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Livermore
Livermore
ZHEN

Running Point Capital Advisors, LLC

SEC CIK
0001840629
Latest filing
Feb 17, 2026

The latest 13F from Running Point Capital Advisors, LLC covers Q4 2025 (filed Feb 17, 2026): 189 long positions worth $366.8M. The top 10 holdings make up 49.3% of the portfolio, and the largest is State Street SPDR Bloomberg 1-3 Month T-Bill ETF at 10.5%. Livermore has 20 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2025

Share counts compared with Q3 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
4
Est. +$2.42M
Added
48
Est. +$18.0M
Reduced
66
Est. −$30.1M
Sold out
6
Est. −$1.05M

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    10.5%$38.6M
  2. Invesco QQQ Trust Series I46090E103
    6.1%$22.3M
  3. Invesco Nasdaq 100 ETF46138G649
    5.9%$21.7M
  4. iShares Core MSCI Emerging Markets ETF46434G103
    5.6%$20.7M
  5. SPDR Series Trust78468R523
    5.1%$18.6M

Share of portfolio

Top 5 holdings and the other 184 positions, by share of portfolio value

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF10.5%
  2. Invesco QQQ Trust Series I6.1%
  3. Invesco Nasdaq 100 ETF5.9%
  4. iShares Core MSCI Emerging Markets ETF5.6%
  5. SPDR Series Trust5.1%
  6. Other 184 positions66.7%

Biggest buys

New and added positions, by estimated amount bought

  1. Pgim ETF Tr69344A834
    +$4.04MAdded
  2. iShares Core S&P 500 ETF464287200
    +$3.64MAdded
  3. Fidelity Covington Trust31609A404
    +$2.20MNew
  4. J P Morgan Exchange Traded F46641Q761
    +$1.22MAdded
  5. Fidelity Covington Trust316092824
    +$1.21MAdded

Largest weight increases

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

  1. Pgim ETF Tr69344A834
    +1.11 pp0.7% → 1.8%
  2. iShares Core S&P 500 ETF464287200
    +1.02 pp0.7% → 1.8%
  3. Fidelity Covington Trust31609A404
    +0.60 pp0.0% → 0.6%
  4. Invesco Nasdaq 100 ETF46138G649
    +0.51 pp5.4% → 5.9%
  5. Fidelity Covington Trust316092824
    +0.42 pp3.1% → 3.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −$13.0MReduced
  2. SPDR Series Trust78468R523
    −$3.07MReduced
  3. Vanguard S&P 500 ETF922908363
    −$2.42MReduced
  4. American Centy ETF Tr025072877
    −$1.39MReduced
  5. iShares Tr464287739
    −$1.13MReduced

Largest weight decreases

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

  1. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −3.37 pp13.9% → 10.5%
  2. SPDR Series Trust78468R523
    −0.75 pp5.8% → 5.1%
  3. Vanguard S&P 500 ETF922908363
    −0.45 pp5.0% → 4.6%
  4. iShares Tr464287739
    −0.33 pp1.3% → 1.0%
  5. American Centy ETF Tr025072877
    −0.29 pp2.1% → 1.8%

Metrics

13F metrics for Q4 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$366.8M
−$6.42M (−1.7%) vs. prior quarter
Positions
189
−2 vs. prior quarter
Top 10 concentration
49.3%
Top 10 as share of value
Turnover
5.5%
Q4 2025, one quarter
Average holding period
14.9 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

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

Peak $373.3M (Q3 2025)

Q1 2021: $181.2MQ2 2021: $219.9MQ3 2021: $225.5MQ4 2021: $166.8MQ1 2022: $170.8MQ2 2022: $155.7MQ3 2022: $150.9MQ4 2022: $162.8MQ1 2023: $165.1MQ2 2023: $178.5MQ3 2023: $172.4MQ4 2023: $204.9MQ1 2024: $223.3MQ2 2024: $241.9MQ3 2024: $258.7MQ4 2024: $291.9MQ1 2025: $315.0MQ2 2025: $362.3MQ3 2025: $373.3MQ4 2025: $366.8M
Q1 2021Q4 2025
13F filings of Running Point Capital Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2025Feb 17, 2026189$366.8MState Street SPDR Bloomberg 1-3 Month T-Bill ETFInvesco QQQ Trust Series IInvesco Nasdaq 100 ETFvs. Q3 2025SEC
Q3 2025Oct 28, 2025191$373.3MState Street SPDR Bloomberg 1-3 Month T-Bill ETFInvesco QQQ Trust Series ISPDR Series Trustvs. Q2 2025SEC
Q2 2025Aug 12, 2025183$362.3MState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series TrustInvesco QQQ Trust Series Ivs. Q1 2025SEC
Q1 2025May 15, 2025181$315.0MState Street SPDR Bloomberg 1-3 Month T-Bill ETFInvesco QQQ Trust Series IiShares Core MSCI Emerging Markets ETFvs. Q4 2024SEC
Q4 2024Feb 11, 2025162$291.9MState Street SPDR Bloomberg 1-3 Month T-Bill ETFInvesco QQQ Trust Series IiShares Core MSCI Emerging Markets ETFvs. Q3 2024SEC
Q3 2024Nov 12, 2024151$258.7MState Street SPDR Bloomberg 1-3 Month T-Bill ETFInvesco QQQ Trust Series IiShares Core MSCI Emerging Markets ETFvs. Q2 2024SEC
Q2 2024Aug 13, 2024142$241.9MInvesco QQQ Trust Series IState Street SPDR Bloomberg 1-3 Month T-Bill ETFiShares Core MSCI Emerging Markets ETFvs. Q1 2024SEC
Q1 2024May 15, 2024143$223.3MInvesco QQQ Trust Series IiShares Core MSCI Emerging Markets ETFInvesco Nasdaq 100 ETFvs. Q4 2023SEC
Q4 2023Feb 13, 2024161$204.9MInvesco QQQ Trust Series IiShares Core MSCI Emerging Markets ETFState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q3 2023SEC
Q3 2023Nov 6, 2023149$172.4MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares MSCI USA Quality Factor ETFvs. Q2 2023SEC
Q2 2023Aug 9, 2023152$178.5MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares MSCI USA Quality Factor ETFvs. Q1 2023SEC
Q1 2023May 10, 2023148$165.1MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares MSCI USA Quality Factor ETFvs. Q4 2022SEC
Q4 2022Feb 9, 2023209$162.8MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares MSCI USA Quality Factor ETFvs. Q3 2022SEC
Q3 2022Nov 14, 2022225$150.9MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares Incvs. Q2 2022SEC
Q2 2022Aug 2, 2022229$155.7MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares Incvs. Q1 2022SEC
Q1 2022May 12, 2022218$170.8MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares MSCI USA Quality Factor ETFvs. Q4 2021SEC
Q4 2021Feb 10, 2022121$166.8MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares MSCI USA Quality Factor ETFvs. Q3 2021SEC
Q3 2021Nov 15, 2021164$225.5MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares Incvs. Q2 2021SEC
Q2 2021Aug 12, 2021157$219.9MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFiShares Incvs. Q1 2021SEC
Q1 2021May 5, 2021137$181.2MInvesco QQQ Trust Series IiShares MSCI USA Min Vol Factor ETFVanguard Ftse Emerging Markets ETF–SEC