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Livermore
Livermore
ZHEN

Shilanski & Associates, Inc.

SEC CIK
0001722084
Latest filing
Oct 20, 2025

The latest 13F from Shilanski & Associates, Inc. covers Q3 2025 (filed Oct 20, 2025): 109 long positions worth $376.3M. The top 10 holdings make up 43.9% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 12.0%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2025

Share counts compared with Q2 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
29
Est. +$35.9M
Added
63
Est. +$11.3M
Reduced
12
Est. −$2.05M
Sold out
28
Est. −$34.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    12.0%$45.2MHistory
  2. Schwab U.S. Broad Market ETF808524102
    8.4%$31.6M
  3. Schwab Fundamental International Equity ETF808524755
    3.8%$14.5M
  4. State Street SPDR Portfolio S&P 500 Growth ETF78464A409
    3.1%$11.6M
  5. Invesco Exch Traded FD Tr II46138E362
    3.0%$11.4M

Biggest buys

New and added positions, by estimated amount bought

  1. HSBCHSBC Holdings PLC
    +$5.14MNewHistory
  2. iShares Tr464288653
    +$4.99MNew
  3. PLTRPalantir Technologies Inc.
    +$3.65MNewHistory
  4. APHAmphenol Corp
    +$3.05MNewHistory
  5. NEMNEWMONT Corp
    +$2.33MNewHistory

Largest weight increases

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

  1. HSBCHSBC Holdings PLC
    +1.37 pp0.0% → 1.4%History
  2. iShares Tr464288653
    +1.33 pp0.0% → 1.3%
  3. PLTRPalantir Technologies Inc.
    +0.97 pp0.0% → 1.0%History
  4. APHAmphenol Corp
    +0.81 pp0.0% → 0.8%History
  5. NEMNEWMONT Corp
    +0.62 pp0.0% → 0.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPDR Series Trust78464A292
    −$4.64MSold out
  2. ESABESAB Corp
    −$2.42MSold outHistory
  3. FICOFair Isaac Corp
    −$2.40MSold outHistory
  4. TGTTarget Corp
    −$2.40MSold outHistory
  5. EVREvercore Inc.
    −$2.31MSold outHistory

Largest weight decreases

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

  1. SPDR Series Trust78464A292
    −1.33 pp1.3% → 0.0%
  2. AXONAxon Enterprise, Inc.
    −0.84 pp1.6% → 0.8%History
  3. ESABESAB Corp
    −0.69 pp0.7% → 0.0%History
  4. FICOFair Isaac Corp
    −0.69 pp0.7% → 0.0%History
  5. TGTTarget Corp
    −0.69 pp0.7% → 0.0%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$376.3M
+$26.3M (+7.5%) vs. prior quarter
Positions
109
+1 vs. prior quarter
Top 10 concentration
43.9%
Top 10 as share of value
Turnover
10.0%
Q3 2025, one quarter
Average holding period
12.5 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

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

Peak $376.3M (Q3 2025)

Q1 2021: $187.4MQ2 2021: $210.3MQ3 2021: $214.7MQ4 2021: $234.3MQ1 2022: $237.8MQ2 2022: $213.4MQ3 2022: $272.6MQ4 2022: $228.3MQ1 2023: $222.0MQ2 2023: $246.8MQ3 2023: $244.8MQ4 2023: $262.0MQ1 2024: $289.9MQ2 2024: $296.9MQ3 2024: $307.1MQ4 2024: $311.2MQ1 2025: $320.5MQ2 2025: $350.0MQ3 2025: $376.3M
Q1 2021Q3 2025
13F filings of Shilanski & Associates, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Oct 20, 2025109$376.3MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q2 2025SEC
Q2 2025Aug 1, 2025108$350.0MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q1 2025SEC
Q1 2025Apr 25, 2025104$320.5MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q4 2024SEC
Q4 2024Jan 21, 2025101$311.2MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q3 2024SEC
Q3 2024Nov 12, 2024102$307.1MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q2 2024SEC
Q2 2024Jul 18, 2024108$296.9MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q1 2024SEC
Q1 2024Apr 11, 2024105$289.9MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q4 2023SEC
Q4 2023Jan 10, 202497$262.0MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q3 2023SEC
Q3 2023Nov 14, 2023100$244.8MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q2 2023SEC
Q2 2023Jul 28, 2023110$246.8MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q1 2023SEC
Q1 2023May 12, 202398$222.0MSPYSchwab U.S. Broad Market ETFSchwab Fundamental International Equity ETFvs. Q4 2022SEC
Q4 2022Jan 31, 2023113$228.3MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q3 2022SEC
Q3 2022Nov 4, 2022139$272.6MVanguard Scottsdale FDSVanguard Morningstar Value ETFVanguard S&P 500 ETFvs. Q2 2022SEC
Q2 2022Aug 2, 2022107$213.4MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q1 2022SEC
Q1 2022Apr 20, 2022123$237.8MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q4 2021SEC
Q4 2021Jan 12, 2022115$234.3MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q3 2021SEC
Q3 2021Oct 12, 2021114$214.7MSPYSchwab U.S. Broad Market ETFInvesco Exch Traded FD Tr IIvs. Q2 2021SEC
Q2 2021Aug 13, 2021112$210.3MSPYInvesco Exch Traded FD Tr IISchwab U.S. Broad Market ETFvs. Q1 2021SEC
Q1 2021Apr 14, 2021106$187.4MSPYSchwab U.S. Broad Market ETFFirst Tr Exchange-Traded FD–SEC