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Livermore
Livermore
ZHEN

First Horizon Advisors, Inc.

SEC CIK
0001588539
Latest filing
Aug 6, 2025

The latest 13F from First Horizon Advisors, Inc. covers Q2 2025 (filed Aug 6, 2025): 2,325 long positions worth $3.85B. The top 10 holdings make up 19.6% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 3.4%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2025

Share counts compared with Q1 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
260
Est. +$5.97M
Added
934
Est. +$148.5M
Reduced
749
Est. −$70.2M
Sold out
251
Est. −$5.75M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    3.4%$132.2MHistory
  2. iShares Core S&P 500 ETF464287200
    3.0%$114.6M
  3. MSFTMicrosoft Corp
    2.0%$78.4MHistory
  4. JPMJPMorgan Chase & Co
    1.9%$71.4MHistory
  5. AVGOBroadcom Inc.
    1.8%$68.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. BRK.ABerkshire Hathaway Inc
    +$8.02MAddedHistory
  2. Invesco Nasdaq 100 ETF46138G649
    +$6.30MAdded
  3. iShares Core Dividend Growth ETF46434V621
    +$6.07MAdded
  4. BlackRock ETF Trust09290C806
    +$4.72MAdded
  5. iShares Tr464288877
    +$4.41MAdded

Largest weight increases

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

  1. NVDANVIDIA Corp
    +0.26 pp0.7% → 0.9%History
  2. BRK.ABerkshire Hathaway Inc
    +0.20 pp<0.1% → 0.2%History
  3. Vanguard Morningstar Growth ETF922908736
    +0.20 pp1.1% → 1.3%
  4. Invesco Nasdaq 100 ETF46138G649
    +0.16 pp<0.1% → 0.2%
  5. iShares Core Dividend Growth ETF46434V621
    +0.14 pp0.3% → 0.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$10.7MReduced
  2. VVisa Inc.
    −$4.29MReducedHistory
  3. iShares Inc46434G764
    −$3.54MReduced
  4. GLDSPDR Gold Trust
    −$2.02MReducedHistory
  5. iShares Tr464288570
    −$1.92MReduced

Largest weight decreases

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

  1. AAPLApple Inc.
    −0.35 pp2.0% → 1.7%History
  2. iShares Core S&P 500 ETF464287200
    −0.22 pp3.2% → 3.0%
  3. VVisa Inc.
    −0.13 pp0.3% → 0.2%History
  4. CVXChevron Corp
    −0.10 pp0.5% → 0.4%History
  5. MRKMerck & Co., Inc.
    −0.09 pp0.4% → 0.3%History

Metrics

13F metrics for Q2 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.85B
+$298.0M (+8.4%) vs. prior quarter
Positions
2,325
+9 vs. prior quarter
Top 10 concentration
19.6%
Top 10 as share of value
Turnover
2.1%
Q2 2025, one quarter
Average holding period
17.3 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

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

Peak $3.85B (Q2 2025)

Q1 2021: $1.73BQ2 2021: $1.86BQ3 2021: $3.06BQ4 2021: $3.31BQ1 2022: $1.83BQ2 2022: $2.81BQ3 2022: $2.49BQ4 2022: $2.71BQ1 2023: $2.80BQ2 2023: $2.89BQ3 2023: $2.76BQ4 2023: $3.02BQ1 2024: $3.24BQ2 2024: $3.29BQ3 2024: $3.60BQ4 2024: $3.57BQ1 2025: $3.55BQ2 2025: $3.85B
Q1 2021Q2 2025
13F filings of First Horizon Advisors, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Aug 6, 20252,325$3.85BSPYiShares Core S&P 500 ETFMSFTvs. Q1 2025SEC
Q1 2025Apr 28, 20252,316$3.55BSPYiShares Core S&P 500 ETFAAPLvs. Q4 2024SEC
Q4 2024Feb 3, 20252,283$3.57BSPYiShares Core S&P 500 ETFAAPLvs. Q3 2024SEC
Q3 2024Nov 8, 20242,333$3.60BiShares Core S&P 500 ETFSPYAAPLvs. Q2 2024SEC
Q2 2024Jul 19, 20242,294$3.29BiShares Core S&P 500 ETFSPYAAPLvs. Q1 2024SEC
Q1 2024Apr 26, 20242,301$3.24BiShares Core S&P 500 ETFSPYMSFTvs. Q4 2023SEC
Q4 2023Feb 6, 20242,381$3.02BiShares Core S&P 500 ETFSPYAAPLvs. Q3 2023SEC
Q3 2023Oct 27, 20232,405$2.76BSPYiShares Core S&P 500 ETFAAPLvs. Q2 2023SEC
Q2 2023Aug 3, 20232,457$2.89BSPYiShares Core S&P 500 ETFMSFTvs. Q1 2023SEC
Q1 2023May 15, 20232,472$2.80BSPYiShares Core S&P 500 ETFAAPLvs. Q4 2022SEC
Q4 2022Feb 10, 20232,469$2.71BSPYiShares Core S&P 500 ETFAAPLvs. Q3 2022SEC
Q3 2022Nov 9, 20222,435$2.49BSPYiShares Core S&P 500 ETFAAPLvs. Q2 2022SEC
Q2 2022Aug 2, 20222,521$2.81BSPYiShares Core S&P 500 ETFAAPLvs. Q1 2022SEC
Q1 2022May 10, 20221,837$1.83BAAPLMSFTSPYvs. Q4 2021SEC
Q4 2021Feb 9, 20222,423$3.31BSPYAAPLiShares Core S&P 500 ETFvs. Q3 2021SEC
Q3 2021Nov 15, 2021Amended2,467$3.06BSPYAAPLiShares Core S&P 500 ETFvs. Q2 2021SEC
Q2 2021Aug 9, 20212,118$1.86BSPYVanguard S&P 500 ETFiShares Core S&P Mid-Cap ETFvs. Q1 2021SEC
Q1 2021May 11, 20212,038$1.73BSPYVanguard S&P 500 ETFiShares Core S&P Mid-Cap ETF–SEC