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Livermore
Livermore
ZHEN

FSA Wealth Management LLC

SEC CIK
0001804256
Latest filing
Nov 17, 2025

The latest 13F from FSA Wealth Management LLC covers Q3 2025 (filed Nov 17, 2025): 574 long positions worth $272.6M. The top 10 holdings make up 82.9% of the portfolio, and the largest is iShares Russell 1000 Growth ETF at 25.1%. Livermore has 18 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
48
Est. +$715.0K
Added
93
Est. +$986.7K
Reduced
57
Est. −$3.71M
Sold out
21
Est. −$250.6K

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Russell 1000 Growth ETF464287614
    25.1%$68.5M
  2. iShares Russell 1000 Value ETF464287598
    20.0%$54.5M
  3. Vanguard Ftse Developed Markets ETF921943858
    9.4%$25.7M
  4. iShares Russell Mid-Cap Growth ETF464287481
    6.8%$18.4M
  5. iShares Russell Mid-Cap Value ETF464287473
    5.7%$15.5M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Russell 1000 Value ETF464287598
    +$311.9KAdded
  2. LRCXLam Research Corp
    +$106.6KNewHistory
  3. Vanguard Morningstar Total Stock Market ETF922908769
    +$86.6KAdded
  4. iShares Tr464287630
    +$75.5KAdded
  5. Vanguard Morningstar Small-Cap Growth ETF922908595
    +$70.2KNew

Largest weight increases

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

  1. iShares Tr464287630
    +0.22 pp3.7% → 4.0%
  2. iShares Russell 2000 Growth ETF464287648
    +0.21 pp4.1% → 4.3%
  3. GOOGAlphabet Inc.
    +0.09 pp0.3% → 0.4%History
  4. GOOGLAlphabet Inc.
    +0.06 pp0.2% → 0.3%History
  5. Vanguard Morningstar Total Stock Market ETF922908769
    +0.04 pp0.6% → 0.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Russell 1000 Growth ETF464287614
    −$1.27MReduced
  2. Vanguard Ftse Developed Markets ETF921943858
    −$541.4KReduced
  3. AAPLApple Inc.
    −$356.5KReducedHistory
  4. iShares Russell Mid-Cap Growth ETF464287481
    −$267.2KReduced
  5. MSFTMicrosoft Corp
    −$233.6KReducedHistory

Largest weight decreases

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

  1. iShares Russell Mid-Cap Growth ETF464287481
    −0.36 pp7.1% → 6.8%
  2. Vanguard Ftse Developed Markets ETF921943858
    −0.34 pp9.8% → 9.4%
  3. CWSTCasella Waste Systems Inc
    −0.15 pp0.6% → 0.5%History
  4. INTUIntuit Inc.
    −0.13 pp0.6% → 0.5%History
  5. MSFTMicrosoft Corp
    −0.11 pp0.9% → 0.8%History

Metrics

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

Portfolio value
$272.6M
+$17.1M (+6.7%) vs. prior quarter
Positions
574
+27 vs. prior quarter
Top 10 concentration
82.9%
Top 10 as share of value
Turnover
0.6%
Q3 2025, one quarter
Average holding period
5.0 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

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

Peak $272.6M (Q3 2025)

Q1 2021: $149.5MQ2 2021: $159.3MQ3 2021: $160.8MQ4 2021: $171.6MQ1 2022: $171.6MQ2 2022: $36.1MQ3 2022: $143.0MQ4 2022: $171.8MQ1 2023: $172.3MQ2 2023: $185.3MQ3 2023: $178.8MQ4 2023: $210.7MQ1 2024: $229.8MQ3 2024: $250.3MQ4 2024: $246.4MQ1 2025: $234.9MQ2 2025: $255.6MQ3 2025: $272.6M
Q1 2021Q3 2025
13F filings of FSA Wealth Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 17, 2025574$272.6MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2025SEC
Q2 2025Aug 11, 2025547$255.6MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2025SEC
Q1 2025May 15, 2025510$234.9MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2024SEC
Q4 2024Feb 14, 2025569$246.4MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2024SEC
Q3 2024Nov 14, 2024561$250.3MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETF–SEC
Q1 2024May 16, 2024627$229.8MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2023SEC
Q4 2023Feb 14, 2024613$210.7MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2023SEC
Q3 2023Nov 15, 202349$178.8MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2023SEC
Q2 2023Jul 31, 202348$185.3MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2023SEC
Q1 2023Apr 21, 202344$172.3MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2022SEC
Q4 2022Feb 14, 202351$171.8MiShares Russell 1000 Value ETFiShares Russell 1000 Growth ETFVanguard Ftse Developed Markets ETFvs. Q3 2022SEC
Q3 2022Nov 9, 202248$143.0MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2022SEC
Q2 2022Aug 15, 202228$36.1MiShares Russell 1000 Value ETFiShares Russell 1000 Growth ETFTSLAvs. Q1 2022SEC
Q1 2022May 16, 202247$171.6MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q4 2021SEC
Q4 2021Feb 14, 202247$171.6MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q3 2021SEC
Q3 2021Nov 15, 202143$160.8MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q2 2021SEC
Q2 2021Aug 13, 202142$159.3MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETFvs. Q1 2021SEC
Q1 2021May 17, 202144$149.5MiShares Russell 1000 Growth ETFiShares Russell 1000 Value ETFVanguard Ftse Developed Markets ETF–SEC