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Livermore
Livermore
ZHEN

Horan Securities, Inc.

SEC CIK
0001671623
Latest filing
Aug 6, 2025

The latest 13F from Horan Securities, Inc. covers Q2 2025 (filed Aug 6, 2025): 152 long positions worth $284.2M. The top 10 holdings make up 70.6% of the portfolio, and the largest is iShares Core S&P 500 ETF at 46.3%. Livermore has 17 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
20
Est. +$10.8M
Added
93
Est. +$7.10M
Reduced
27
Est. −$17.1M
Sold out
3
Est. −$582.6K

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    46.3%$131.6M
  2. iShares Core S&P Mid-Cap ETF464287507
    7.6%$21.7M
  3. iShares Core S&P Small Cap ETF464287804
    6.3%$17.9M
  4. PGProcter & Gamble Co
    3.8%$10.8MHistory
  5. AAPLApple Inc.
    1.6%$4.57MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. NVDANVIDIA Corp
    +$1.92MAddedHistory
  2. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$1.79MNew
  3. ETNEaton Corp plc
    +$1.49MNewHistory
  4. State Street SPDR Portfolio S&P 600 Small Cap ETF78468R853
    +$1.06MNew
  5. GEGeneral Electric Co
    +$1.04MAddedHistory

Largest weight increases

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

  1. NVDANVIDIA Corp
    +0.74 pp0.2% → 0.9%History
  2. State Street SPDR Portfolio S&P 500 ETF78464A854
    +0.63 pp0.0% → 0.6%
  3. ETNEaton Corp plc
    +0.52 pp0.0% → 0.5%History
  4. GEGeneral Electric Co
    +0.44 pp0.4% → 0.8%History
  5. State Street SPDR Portfolio S&P 600 Small Cap ETF78468R853
    +0.37 pp0.0% → 0.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$7.90MReduced
  2. iShares Core S&P Small Cap ETF464287804
    −$7.07MReduced
  3. iShares Tr464288414
    −$974.0KReduced
  4. iShares Tr464288885
    −$261.7KReduced
  5. ACNAccenture plc
    −$256.1KSold outHistory

Largest weight decreases

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

  1. iShares Core S&P Small Cap ETF464287804
    −2.74 pp9.1% → 6.3%
  2. iShares Core S&P 500 ETF464287200
    −1.45 pp47.8% → 46.3%
  3. iShares Tr464288414
    −0.38 pp0.5% → 0.1%
  4. iShares Core S&P Mid-Cap ETF464287507
    −0.17 pp7.8% → 7.6%
  5. ACNAccenture plc
    −0.10 pp0.1% → 0.0%History

Metrics

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

Portfolio value
$284.2M
+$19.9M (+7.5%) vs. prior quarter
Positions
152
+17 vs. prior quarter
Top 10 concentration
70.6%
Top 10 as share of value
Turnover
6.4%
Q2 2025, one quarter
Average holding period
13.4 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 $284.2M (Q2 2025)

Q1 2021: $117.2MQ2 2021: $138.3MQ4 2021: $165.6MQ1 2022: $167.6MQ2 2022: $163.8MQ3 2022: $159.6MQ4 2022: $178.0MQ1 2023: $194.8MQ2 2023: $236.2MQ3 2023: $187.9MQ4 2023: $198.8MQ1 2024: $211.9MQ2 2024: $231.3MQ3 2024: $258.6MQ4 2024: $263.6MQ1 2025: $264.3MQ2 2025: $284.2M
Q1 2021Q2 2025
13F filings of Horan Securities, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Aug 6, 2025152$284.2MiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core S&P Small Cap ETFvs. Q1 2025SEC
Q1 2025May 12, 2025135$264.3MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 7, 2025129$263.6MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q3 2024SEC
Q3 2024Nov 12, 2024139$258.6MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q2 2024SEC
Q2 2024Aug 9, 2024123$231.3MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q1 2024SEC
Q1 2024May 2, 2024114$211.9MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q4 2023SEC
Q4 2023Feb 7, 2024106$198.8MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q3 2023SEC
Q3 2023Nov 1, 2023100$187.9MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q2 2023SEC
Q2 2023Jul 27, 2023723$236.2MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q1 2023SEC
Q1 2023Apr 18, 2023739$194.8MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q4 2022SEC
Q4 2022Jan 17, 2023784$178.0MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q3 2022SEC
Q3 2022Oct 12, 2022648$159.6MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q2 2022SEC
Q2 2022Jul 19, 2022745$163.8MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q1 2022SEC
Q1 2022May 10, 2022546$167.6MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q4 2021SEC
Q4 2021Feb 9, 2022546$165.6MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPG–SEC
Q2 2021Aug 5, 2021488$138.3MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPGvs. Q1 2021SEC
Q1 2021May 14, 2021419$117.2MiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFPG–SEC