Skip to main content
Livermore
Livermore
ZHEN

Apeiron Capital Ltd

SEC CIK
0001843111
Latest filing
Aug 6, 2026

The latest 13F from Apeiron Capital Ltd covers Q2 2026 (filed Aug 6, 2026): 14 long positions worth $155.7M. The top 10 holdings make up 93.0% of the portfolio, and the largest is Direxion Shs ETF Tr at 22.9%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: 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
9
Est. +$86.7M
Added
1
Est. +$4.35M
Reduced
3
Est. −$13.0M
Sold out
7
Est. −$28.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. Direxion Shs ETF Tr25461A528
    22.9%$35.7M
  2. ONONOn Holding AG
    18.1%$28.2MHistory
  3. ABVXAbivax S.A.
    11.2%$17.4MHistory
  4. QFINQfin Holdings, Inc.
    9.9%$15.4MHistory
  5. SMMTSummit Therapeutics Inc.
    9.0%$14.0MHistory

Share of portfolio

Top 5 holdings and the other 9 positions, by share of portfolio value

  1. Direxion Shs ETF Tr22.9%
  2. ONON18.1%
  3. ABVX11.2%
  4. QFIN9.9%
  5. SMMT9.0%
  6. Other 9 positions28.9%

Biggest buys

New and added positions, by estimated amount bought

  1. Direxion Shs ETF Tr25461A528
    +$35.7MNew
  2. ABVXAbivax S.A.
    +$17.4MNewHistory
  3. WDCWestern Digital Corp
    +$8.30MNewHistory
  4. NKTRNektar Therapeutics
    +$7.43MNewHistory
  5. NOKNokia Corp
    +$5.03MNewHistory

Largest weight increases

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

  1. Direxion Shs ETF Tr25461A528
    +22.90 pp0.0% → 22.9%
  2. ABVXAbivax S.A.
    +11.18 pp0.0% → 11.2%History
  3. WDCWestern Digital Corp
    +5.33 pp0.0% → 5.3%History
  4. NKTRNektar Therapeutics
    +4.77 pp0.0% → 4.8%History
  5. NOKNokia Corp
    +3.23 pp0.0% → 3.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MUMicron Technology Inc
    −$7.40MSold outHistory
  2. ONONOn Holding AG
    −$7.09MReducedHistory
  3. UUnity Software Inc.
    −$5.50MSold outHistory
  4. AMZNAmazon Com Inc
    −$5.10MSold outHistory
  5. SMMTSummit Therapeutics Inc.
    −$5.06MReducedHistory

Largest weight decreases

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

  1. SMMTSummit Therapeutics Inc.
    −14.21 pp23.2% → 9.0%History
  2. ONONOn Holding AG
    −13.59 pp31.7% → 18.1%History
  3. MUMicron Technology Inc
    −6.92 pp6.9% → 0.0%History
  4. UUnity Software Inc.
    −5.14 pp5.1% → 0.0%History
  5. AMZNAmazon Com Inc
    −4.77 pp4.8% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$155.7M
+$48.8M (+45.6%) vs. prior quarter
Positions
14
+2 vs. prior quarter
Top 10 concentration
93.0%
Top 10 as share of value
Turnover
31.6%
Q2 2026, one quarter
Average holding period
4.6 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

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

Peak $381.0M (Q3 2021)

Q1 2021: $232.7MQ2 2021: $309.0MQ3 2021: $381.0MQ4 2021: $339.2MQ1 2022: $226.2MQ2 2022: $163.4MQ3 2022: $150.1MQ4 2022: $102.6MQ1 2023: $179.1MQ2 2023: $165.5MQ3 2023: $149.4MQ4 2023: $68.0MQ1 2024: $197.9MQ2 2024: $286.6MQ3 2024: $280.3MQ4 2024: $268.3MQ1 2025: $217.6MQ2 2025: $105.9MQ3 2025: $210.4MQ4 2025: $86.5MQ1 2026: $106.9MQ2 2026: $155.7M
Q1 2021Q2 2026
13F filings of Apeiron Capital Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 202614$155.7MDirexion Shs ETF TrONONABVXvs. Q1 2026SEC
Q1 2026Apr 22, 202612$106.9MONONSMMTQFINvs. Q4 2025SEC
Q4 2025Feb 2, 20265$86.5MONONSMMTQFINvs. Q3 2025SEC
Q3 2025Oct 28, 20258$210.4MGraniteshares ETF TrONONSMMTvs. Q2 2025SEC
Q2 2025Jul 25, 20255$105.9MONONQFINSMMTvs. Q1 2025SEC
Q1 2025Apr 23, 202511$217.6MGraniteshares ETF TrONONNVDAvs. Q4 2024SEC
Q4 2024Jan 7, 202513$268.3MGraniteshares ETF TrONONTSLAvs. Q3 2024SEC
Q3 2024Nov 1, 202410$280.3MGraniteshares ETF TrONONNVDAvs. Q2 2024SEC
Q2 2024Aug 9, 202411$286.6MGraniteshares ETF TrONONPDDvs. Q1 2024SEC
Q1 2024May 21, 2024Amended12$197.9MCOINONONSTAAvs. Q4 2023SEC
Q4 2023Feb 1, 20248$68.0MONONSTAAPDDvs. Q3 2023SEC
Q3 2023Oct 31, 202311$149.4MPinduoduo IncONONSTAAvs. Q2 2023SEC
Q2 2023Jul 25, 202314$165.5MPinduoduo IncONONSTAAvs. Q1 2023SEC
Q1 2023Apr 25, 202311$179.1MPinduoduo IncSTAAONONvs. Q4 2022SEC
Q4 2022Jan 18, 20238$102.6MPinduoduo IncSTAAONONvs. Q3 2022SEC
Q3 2022Oct 21, 202210$150.1MPinduoduo IncSTAANTESvs. Q2 2022SEC
Q2 2022Aug 1, 202213$163.4MPinduoduo IncSTAANTESvs. Q1 2022SEC
Q1 2022May 2, 202214$226.2MPinduoduo IncSTAANTESvs. Q4 2021SEC
Q4 2021Jan 26, 202211$339.2MAMZNPinduoduo IncSTAAvs. Q3 2021SEC
Q3 2021Oct 29, 202112$381.0MAMZNSTAAPinduoduo Incvs. Q2 2021SEC
Q2 2021Jul 14, 202111$309.0MAMZNSTAABABAvs. Q1 2021SEC
Q1 2021Apr 12, 20219$232.7MAMZNBABASTAA–SEC