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Livermore
Livermore
ZHEN

Apexium Financial, LP

SEC CIK
0001765285
Latest filing
Nov 18, 2025

The latest 13F from Apexium Financial, LP covers Q3 2025 (filed Nov 18, 2025): 288 long positions worth $2.06B. The top 10 holdings make up 61.7% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 22.5%. Livermore has 20 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
15
Est. +$10.3M
Added
117
Est. +$37.0M
Reduced
118
Est. −$17.7M
Sold out
5
Est. −$1.62M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    22.5%$463.0MHistory
  2. iShares Core S&P 500 ETF464287200
    13.2%$270.3M
  3. Soundwatch Hedged Equity ETF00777X603
    6.9%$142.1M
  4. Invesco QQQ Trust Series I46090E103
    5.5%$113.6M
  5. AAPLApple Inc.
    3.0%$60.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$7.17MAdded
  2. Ea Series Trust02072Q853
    +$3.74MNew
  3. SPYSPDR S&P 500 ETF Trust
    +$2.66MAddedHistory
  4. iShares U S ETF Tr46431W648
    +$2.27MAdded
  5. PEGPublic Service Enterprise Group Inc
    +$1.74MAddedHistory

Largest weight increases

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

  1. iShares Core S&P 500 ETF464287200
    +0.20 pp13.0% → 13.2%
  2. Ea Series Trust02072Q853
    +0.18 pp0.0% → 0.2%
  3. VanEck Semiconductor ETF92189F676
    +0.13 pp0.7% → 0.9%
  4. iShares Tr464287721
    +0.11 pp1.9% → 2.0%
  5. iShares U S ETF Tr46431W648
    +0.11 pp0.3% → 0.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Soundwatch Hedged Equity ETF00777X603
    −$3.78MReduced
  2. AAPLApple Inc.
    −$1.38MReducedHistory
  3. Invesco QQQ Trust Series I46090E103
    −$1.38MReduced
  4. PIMCO Enhanced Short Maturity Active Exchange-Traded Fund72201R833
    −$976.7KReduced
  5. ProShares Tr74348A467
    −$746.7KReduced

Largest weight decreases

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

  1. Soundwatch Hedged Equity ETF00777X603
    −0.35 pp7.3% → 6.9%
  2. DISWalt Disney Co
    −0.16 pp0.9% → 0.8%History
  3. PIMCO Enhanced Short Maturity Active Exchange-Traded Fund72201R833
    −0.10 pp0.6% → 0.5%
  4. ProShares Tr74348A467
    −0.08 pp0.7% → 0.6%
  5. WisdomTree Tr97717Y527
    −0.08 pp0.7% → 0.6%

Metrics

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

Portfolio value
$2.06B
+$171.0M (+9.1%) vs. prior quarter
Positions
288
+10 vs. prior quarter
Top 10 concentration
61.7%
Top 10 as share of value
Turnover
1.0%
Q3 2025, one quarter
Average holding period
16.4 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

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

Peak $2.06B (Q3 2025)

Q1 2021: $136.3MQ2 2021: $161.0MQ3 2021: $173.1MQ4 2021: $193.8MQ1 2022: $190.6MQ2 2022: $173.9MQ3 2022: $804.8MQ4 2022: $963.8MQ1 2023: $1.02BQ2 2023: $1.13BQ3 2023: $997.5MQ4 2023: $1.39BQ1 2024: $1.32BQ2 2024: $1.40BQ3 2024: $1.52BQ4 2024: $1.65BQ1 2025: $1.68BQ2 2025: $1.88BQ3 2025: $2.06B
Q1 2021Q3 2025
13F filings of Apexium Financial, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 18, 2025288$2.06BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q2 2025SEC
Q2 2025Jul 22, 2025278$1.88BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q1 2025SEC
Q1 2025May 14, 2025278$1.68BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q4 2024SEC
Q4 2024Jan 22, 2025259$1.65BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q3 2024SEC
Q3 2024Oct 15, 2024236$1.52BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q2 2024SEC
Q2 2024Aug 6, 2024227$1.40BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q1 2024SEC
Q1 2024Apr 19, 2024226$1.32BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q4 2023SEC
Q4 2023Feb 8, 2024270$1.39BSPYiShares Core S&P 500 ETFSoundwatch Hedged Equity ETFvs. Q3 2023SEC
Q3 2023Oct 25, 2023212$997.5MSPYiShares Core S&P 500 ETFInvesco QQQ Trust Series Ivs. Q2 2023SEC
Q2 2023Aug 14, 2023221$1.13BSPYiShares Core S&P 500 ETFTrust for Advised Portfoliosvs. Q1 2023SEC
Q1 2023May 17, 2023211$1.02BSPYiShares Core S&P 500 ETFTrust for Advised Portfoliosvs. Q4 2022SEC
Q4 2022Feb 14, 2023205$963.8MSPYiShares Core S&P 500 ETFTrust for Advised Portfoliosvs. Q3 2022SEC
Q3 2022Nov 14, 2022195$804.8MSPYiShares Core S&P 500 ETFInvesco QQQ Trust Series Ivs. Q2 2022SEC
Q2 2022Jul 28, 202295$173.9MSPYAAPLiShares Core S&P 500 ETFvs. Q1 2022SEC
Q1 2022Apr 22, 2022Amended97$190.6MSPYAAPLiShares MSCI USA Quality Factor ETFvs. Q4 2021SEC
Q4 2021Jan 19, 202296$193.8MSPYAAPLiShares MSCI USA Quality Factor ETFvs. Q3 2021SEC
Q3 2021Oct 12, 202190$173.1MSPYiShares MSCI USA Quality Factor ETFAAPLvs. Q2 2021SEC
Q2 2021Jul 15, 202180$161.0MSPYiShares MSCI USA Quality Factor ETFAAPLvs. Q1 2021SEC
Q1 2021May 14, 202175$136.3MSPYAAPLiShares MSCI USA Quality Factor ETF–SEC