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Livermore
Livermore
ZHEN

Janney Capital Management LLC

SEC CIK
0001569855
Latest filing
Feb 11, 2026

The latest 13F from Janney Capital Management LLC covers Q4 2025 (filed Feb 11, 2026): 253 long positions worth $1.59B. The top 10 holdings make up 23.2% of the portfolio, and the largest is iShares Core MSCI Eafe ETF at 4.7%. Livermore has 20 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2025

Share counts compared with Q3 2025: 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
21
Est. +$61.4M
Added
61
Est. +$28.0M
Reduced
144
Est. −$112.1M
Sold out
12
Est. −$21.9M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core MSCI Eafe ETF46432F842
    4.7%$75.0M
  2. State Street Technology Select Sector SPDR ETF81369Y803
    2.5%$39.4M
  3. State Street Communication Services Select Sector SPDR ETF81369Y852
    2.3%$36.0M
  4. MSFTMicrosoft Corp
    2.1%$34.1MHistory
  5. CCitigroup Inc
    2.1%$33.0MHistory

Share of portfolio

Top 5 holdings and the other 248 positions, by share of portfolio value

  1. iShares Core MSCI Eafe ETF4.7%
  2. State Street Technology Select Sector SPDR ETF2.5%
  3. State Street Communication Services Select Sector SPDR ETF2.3%
  4. MSFT2.1%
  5. C2.1%
  6. Other 248 positions86.3%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr464288257
    +$16.6MNew
  2. ULUnilever PLC
    +$8.37MNewHistory
  3. SWKStanley Black & Decker, Inc.
    +$8.02MNewHistory
  4. TDGTransDigm Group INC
    +$7.30MNewHistory
  5. QQnity Electronics, Inc.
    +$7.08MNewHistory

Largest weight increases

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

  1. iShares Tr464288257
    +1.04 pp0.0% → 1.0%
  2. ULUnilever PLC
    +0.53 pp0.0% → 0.5%History
  3. SWKStanley Black & Decker, Inc.
    +0.50 pp0.0% → 0.5%History
  4. TDGTransDigm Group INC
    +0.46 pp0.0% → 0.5%History
  5. QQnity Electronics, Inc.
    +0.44 pp0.0% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. TGTTarget Corp
    −$11.1MReducedHistory
  2. PAYXPaychex Inc
    −$10.2MSold outHistory
  3. ULUnilever PLC
    −$8.88MSold outHistory
  4. CBChubb Ltd
    −$6.97MReducedHistory
  5. TSMTaiwan Semiconductor Manufacturing Co Ltd
    −$5.91MReducedHistory

Largest weight decreases

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

  1. PAYXPaychex Inc
    −0.64 pp0.6% → 0.0%History
  2. TGTTarget Corp
    −0.63 pp0.7% → 0.1%History
  3. ULUnilever PLC
    −0.55 pp0.6% → 0.0%History
  4. CBChubb Ltd
    −0.39 pp0.4% → <0.1%History
  5. MSFTMicrosoft Corp
    −0.30 pp2.4% → 2.1%History

Metrics

13F metrics for Q4 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.59B
−$14.6M (−0.9%) vs. prior quarter
Positions
253
+9 vs. prior quarter
Top 10 concentration
23.2%
Top 10 as share of value
Turnover
5.6%
Q4 2025, one quarter
Average holding period
14.0 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

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

Peak $1.61B (Q3 2025)

Q1 2021: $1.51BQ2 2021: $1.57BQ3 2021: $1.49BQ4 2021: $1.54BQ1 2022: $1.41BQ2 2022: $1.25BQ3 2022: $1.23BQ4 2022: $1.40BQ1 2023: $1.33BQ2 2023: $1.44BQ3 2023: $1.30BQ4 2023: $1.49BQ1 2024: $1.50BQ2 2024: $1.42BQ3 2024: $1.48BQ4 2024: $1.51BQ1 2025: $1.45BQ2 2025: $1.55BQ3 2025: $1.61BQ4 2025: $1.59B
Q1 2021Q4 2025
13F filings of Janney Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2025Feb 11, 2026253$1.59BiShares Core MSCI Eafe ETFState Street Technology Select Sector SPDR ETFState Street Communication Services Select Sector SPDR ETFvs. Q3 2025SEC
Q3 2025Oct 27, 2025244$1.61BiShares Core MSCI Eafe ETFState Street Technology Select Sector SPDR ETFMSFTvs. Q2 2025SEC
Q2 2025Jul 17, 2025232$1.55BiShares Core MSCI Eafe ETFMSFTAVGOvs. Q1 2025SEC
Q1 2025Apr 21, 2025229$1.45BiShares Core MSCI Eafe ETFState Street Communication Services Select Sector SPDR ETFMSFTvs. Q4 2024SEC
Q4 2024Jan 17, 2025242$1.51BiShares Core MSCI Eafe ETFAVGOMSFTvs. Q3 2024SEC
Q3 2024Oct 29, 2024233$1.48BMSFTState Street Technology Select Sector SPDR ETFTSMvs. Q2 2024SEC
Q2 2024Jul 25, 2024224$1.42BiShares Core MSCI Eafe ETFMSFTTSMvs. Q1 2024SEC
Q1 2024May 1, 2024233$1.50BiShares Core MSCI Eafe ETFMSFTState Street Technology Select Sector SPDR ETFvs. Q4 2023SEC
Q4 2023Feb 8, 2024234$1.49BiShares Core MSCI Eafe ETFMSFTAVGOvs. Q3 2023SEC
Q3 2023Nov 8, 2023216$1.30BiShares Core MSCI Eafe ETFMSFTSsga Active ETF Trvs. Q2 2023SEC
Q2 2023Jul 26, 2023235$1.44BiShares Core MSCI Eafe ETFMSFTSsga Active ETF Trvs. Q1 2023SEC
Q1 2023Apr 28, 2023226$1.33BiShares Core MSCI Eafe ETFSsga Active ETF TrMSFTvs. Q4 2022SEC
Q4 2022Feb 1, 2023245$1.40BiShares Core MSCI Eafe ETFSsga Active ETF TrJNJvs. Q3 2022SEC
Q3 2022Oct 25, 2022210$1.23BiShares Core MSCI Eafe ETFSsga Active ETF TrJNJvs. Q2 2022SEC
Q2 2022Aug 3, 2022192$1.25BiShares Core MSCI Eafe ETFSsga Active ETF TrMSFTvs. Q1 2022SEC
Q1 2022May 4, 2022200$1.41BiShares Core MSCI Eafe ETFSsga Active ETF TrMSFTvs. Q4 2021SEC
Q4 2021Jan 27, 2022202$1.54BiShares Core MSCI Eafe ETFMSFTState Street Technology Select Sector SPDR ETFvs. Q3 2021SEC
Q3 2021Nov 1, 2021201$1.49BiShares Core MSCI Eafe ETFVanguard Ftse Emerging Markets ETFMSFTvs. Q2 2021SEC
Q2 2021Jul 26, 2021203$1.57BiShares Core MSCI Eafe ETFVanguard Ftse Emerging Markets ETFiShares Tips Bond ETFvs. Q1 2021SEC
Q1 2021Apr 27, 2021200$1.51BiShares Core MSCI Eafe ETFVanguard Ftse Emerging Markets ETFiShares Tips Bond ETF–SEC