13F-HR: LCNB CORP Discloses Q3 2024 Investment Portfolio in 13F Filing

LCNB CORP's latest 13F filing reveals its investment holdings as of September 30, 2024, totaling $282.3 million across 187 positions.

Summary

• LCNB CORP filed its Form 13F for the quarter ended September 30, 2024.
• The filing discloses 187 holdings with a total value of $282,344,217.
• The filing lists the name of the issuer, title of class, CUSIP, FIGI, value, shares or principal amount, type of security (SH for share), investment discretion, and voting authority for each holding.
• The filing includes common stocks, exchange-traded funds (ETFs), and fixed income ETFs.
• The largest holdings include Schwab US Large Cap Growth ETF, Schwab US Large Cap Value ETF, and iShares Inc. TR Core MSCI EAFE ETF.

Sentiment

Score: 6

Explanation: The document is a standard 13F filing, which is factual and neutral in tone. The sentiment is moderately positive as it reflects a well-diversified investment portfolio.

Positives

• The filing provides a comprehensive overview of LCNB CORP's investment portfolio.
• The portfolio is well-diversified across various asset classes and sectors.
• The inclusion of ETFs allows for broad market exposure and diversification.
• The portfolio includes holdings in both domestic and international equities.
• The portfolio includes holdings in fixed income securities, providing potential stability and income.

Risks

• The value of the portfolio is subject to market fluctuations and economic conditions.
• Individual stock holdings carry company-specific risks.
• ETF holdings are subject to the risks of the underlying assets they track.
• Fixed income holdings are subject to interest rate risk and credit risk.
• International equity holdings are subject to currency risk and political risk.

Management Comments

• Bradley A. Ruppert, Executive Vice President and Chief Investment Officer, signed the report on behalf of LCNB CORP.

Industry Context

13F filings are a standard requirement for institutional investment managers with over $100 million in assets under management, providing transparency into their investment strategies and holdings.

Comparison to Industry Standards

• The portfolio allocation appears to be diversified across various sectors and asset classes, which is a common strategy among institutional investors.
• The inclusion of ETFs like SPDR S&P 500 and iShares Core S&P 500 suggests a focus on broad market exposure, similar to many benchmark-driven investment strategies.
• The presence of fixed income ETFs like iShares 20 Year Treasury Bond ETF indicates a balanced approach to risk management, aligning with typical asset allocation models.
• Comparing the holdings to those of similar-sized regional banks or wealth management firms could provide further insights into the portfolio's relative performance and risk profile.

Stakeholder Impact

• The investment decisions reflected in the 13F filing can impact LCNB CORP's shareholders through the performance of its investment portfolio.
• The filing provides transparency to stakeholders regarding the company's investment strategy.

Key Dates