"I'm not sure I understand how the collar on the shaft of the anchor holds the stud in the concrete, but I guess it work."
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Bill--
Notice the tapered right end which draws up into the split collar as the nut is tightened and locks the stud into the concrete. <span style="font-weight: bold">These can be undone and removed if necessary and I would guess that after a number of removals the hole in the concrete might get a little raggedy and lessen the fastener's strength.</span>
They are sometimes called "Redheads" which is a misnomer as that is a brand of fastener which, along with others, (Hilti, etc) has several types of sleeve fasteners within its line, this being but one of them. They are rated from light to heavy duty. The most critical thing in using them is to make a nice, round hole square to the surface using a hammer drill and masonry bit.
For a permanent installation (which I would have on any lift)there are also fasteners that are inserted into a resin and are permanent and extremely strong. For more information that you'll ever need go to:
https://www.confast.com/concrete-fasteners.aspx.
Best--Michael