Skip to main content
Livermore
Livermore
ZHEN

Mizuho Securities USA LLC

SEC CIK
0001513006
Latest filing
May 12, 2025

The latest 13F from Mizuho Securities USA LLC covers Q1 2025 (filed May 12, 2025): 663 long positions worth $4.64B. The top 10 holdings make up 30.9% of the portfolio, and the largest is Apple Inc. (AAPL) at 5.8%. Livermore has 18 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q1 2025

Share counts compared with Q4 2024: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
85
Est. +$245.9M
Added
46
Est. +$84.6M
Reduced
523
Est. −$829.4M
Sold out
41
Est. −$121.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    5.8%$267.2MHistory
  2. MSFTMicrosoft Corp
    4.8%$223.4MHistory
  3. NVDANVIDIA Corp
    4.6%$212.5MHistory
  4. SPYSPDR S&P 500 ETF Trust
    4.6%$211.0MHistory
  5. AMZNAmazon Com Inc
    3.1%$143.7MHistory

Share of portfolio

Top 5 holdings and the other 658 positions, by share of portfolio value

  1. AAPL5.8%
  2. MSFT4.8%
  3. NVDA4.6%
  4. SPY4.6%
  5. AMZN3.1%
  6. Other 658 positions77.2%

Biggest buys

New and added positions, by estimated amount bought

  1. SPDR Series Trust78464A714
    +$34.5MNew
  2. Kodiak AI, Inc.G33033104
    +$31.2MAdded
  3. Evergy, Inc.30034WAD8
    +$23.4MNew
  4. Abrdn FDS00384X202
    +$20.8MNew
  5. Cloudflare, Inc.18915MAC1
    +$8.77MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SPDR Series Trust78464A714
    +0.75 pp0.0% → 0.7%
  2. Kodiak AI, Inc.G33033104
    +0.69 pp0.1% → 0.8%
  3. Evergy, Inc.30034WAD8
    +0.51 pp0.0% → 0.5%
  4. Abrdn FDS00384X202
    +0.45 pp0.0% → 0.4%
  5. Cloudflare, Inc.18915MAC1
    +0.24 pp0.2% → 0.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPYSPDR S&P 500 ETF Trust
    −$80.4MReducedHistory
  2. AAPLApple Inc.
    −$51.1MReducedHistory
  3. MSFTMicrosoft Corp
    −$41.1MReducedHistory
  4. NVDANVIDIA Corp
    −$39.4MReducedHistory
  5. AMZNAmazon Com Inc
    −$25.1MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. NVDANVIDIA Corp
    −1.10 pp5.7% → 4.6%History
  2. SPYSPDR S&P 500 ETF Trust
    −1.01 pp5.6% → 4.6%History
  3. AAPLApple Inc.
    −0.77 pp6.5% → 5.8%History
  4. TSLATesla, Inc.
    −0.69 pp1.9% → 1.3%History
  5. MSFTMicrosoft Corp
    −0.59 pp5.4% → 4.8%History

Metrics

13F metrics for Q1 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$4.64B
−$856.9M (−15.6%) vs. prior quarter
Positions
663
+44 vs. prior quarter
Top 10 concentration
30.9%
Top 10 as share of value
Turnover
6.5%
Q1 2025, one quarter
Average holding period
4.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

17 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $5.49B (Q4 2024)

Q1 2021: $1.05BQ2 2021: $1.23BQ3 2021: $979.9MQ4 2021: $1.11BQ1 2022: $699.3MQ2 2022: $651.1MQ3 2022: $735.4MQ4 2022: $1.07BQ1 2023: $1.74BQ2 2023: $3.02BQ3 2023: $3.33BQ4 2023: $4.27BQ1 2024: $4.09BQ2 2024: $4.52BQ3 2024: $4.65BQ4 2024: $5.49BQ1 2025: $4.64B
Q1 2021Q1 2025
13F filings of Mizuho Securities USA LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q1 2025May 12, 2025663$4.64BAAPLMSFTNVDAvs. Q4 2024SEC
Q4 2024Feb 11, 2025619$5.49BAAPLNVDASPYvs. Q3 2024SEC
Q3 2024Nov 12, 2024Amended614$4.65BSPYAAPLMSFTvs. Q2 2024SEC
Q2 2024Jul 31, 2024620$4.52BInvesco QQQ Trust Series IMSFTNVDAvs. Q1 2024SEC
Q1 2024May 10, 2024140$4.09BSPYInvesco QQQ Trust Series ISPDR Series Trustvs. Q4 2023SEC
Q4 2023Feb 8, 2024192$4.27BSPYMongoDB, Inc.Zscaler, Inc.vs. Q3 2023SEC
Q3 2023Nov 9, 2023222$3.33BSPYSPDR Series TrustEQT Corpvs. Q2 2023SEC
Q2 2023Aug 9, 2023189$3.02BSPYInvesco QQQ Trust Series ISPDR Series Trustvs. Q1 2023SEC
Q1 2023May 3, 2023180$1.74BSPYPalo Alto Networks IncEQT Corpvs. Q4 2022SEC
Q4 2022Feb 3, 2023179$1.07BSPYPalo Alto Networks IncNextera Energy Incvs. Q3 2022SEC
Q3 2022Oct 24, 2022220$735.4MSPYASCBFMongoDB, Inc.vs. Q2 2022SEC
Q2 2022Jul 28, 2022131$651.1MSPYNextera Energy IncMongoDB, Inc.vs. Q1 2022SEC
Q1 2022Apr 27, 2022190$699.3MMongoDB, Inc.Nextera Energy IncSailpoint Technologies Hldgsvs. Q4 2021SEC
Q4 2021Jan 28, 2022179$1.11BSPYiShares Russell 2000 ETFMSPRvs. Q3 2021SEC
Q3 2021Oct 28, 2021243$979.9MSPYiShares Russell 2000 ETFBHPvs. Q2 2021SEC
Q2 2021Jul 28, 2021257$1.23BSPYDIAMDYvs. Q1 2021SEC
Q1 2021Apr 28, 2021168$1.05BSPYReplay Acquisition CorpNextera Energy Inc–SEC