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Livermore
Livermore
ZHEN

NRI Wealth Management LC

SEC CIK
0002027950
Latest filing
Jan 22, 2026

The latest 13F from NRI Wealth Management LC covers Q4 2025 (filed Jan 22, 2026): 31 long positions worth $196.1M. The top 10 holdings make up 76.6% of the portfolio, and the largest is Invesco QQQ Trust Series I at 17.4%. Livermore has 8 filings on Form 13F from this institution, going back to Q4 2023.

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
1
Est. +$200.7K
Added
15
Est. +$1.89M
Reduced
7
Est. −$755.8K
Sold out
2
Est. −$686.4K

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco QQQ Trust Series I46090E103
    17.4%$34.2M
  2. Invesco Exch Traded FD Tr II46138E339
    10.1%$19.9M
  3. iShares Core S&P 500 ETF464287200
    9.8%$19.3M
  4. NVDANVIDIA Corp
    9.6%$18.9MHistory
  5. Vanguard Information Technology ETF92204A702
    9.3%$18.3M

Share of portfolio

Top 5 holdings and the other 26 positions, by share of portfolio value

  1. Invesco QQQ Trust Series I17.4%
  2. Invesco Exch Traded FD Tr II10.1%
  3. iShares Core S&P 500 ETF9.8%
  4. NVDA9.6%
  5. Vanguard Information Technology ETF9.3%
  6. Other 26 positions43.7%

Biggest buys

New and added positions, by estimated amount bought

  1. VanEck Semiconductor ETF92189F676
    +$334.2KAdded
  2. Invesco Exch Traded FD Tr II46138E339
    +$330.6KAdded
  3. Tidal Trust II88636J600
    +$239.7KAdded
  4. State Street Technology Select Sector SPDR ETF81369Y803
    +$200.7KNew
  5. MUMicron Technology Inc
    +$138.4KAddedHistory

Largest weight increases

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

  1. MUMicron Technology Inc
    +1.52 pp2.3% → 3.8%History
  2. GOOGAlphabet Inc.
    +0.81 pp3.3% → 4.2%History
  3. LRCXLam Research Corp
    +0.72 pp3.1% → 3.8%History
  4. VanEck Semiconductor ETF92189F676
    +0.30 pp2.4% → 2.7%
  5. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +0.15 pp2.3% → 2.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$439.7KReduced
  2. Vanguard Financials ETF92204A405
    −$401.1KSold out
  3. MAMastercard Inc
    −$285.2KSold outHistory
  4. Invesco QQQ Trust Series I46090E103
    −$184.3KReduced
  5. Vanguard Morningstar Total Stock Market ETF922908769
    −$98.2KReduced

Largest weight decreases

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

  1. Invesco QQQ Trust Series I46090E103
    −0.52 pp17.9% → 17.4%
  2. iShares Core S&P 500 ETF464287200
    −0.47 pp10.3% → 9.8%
  3. Vanguard Financials ETF92204A405
    −0.21 pp0.2% → 0.0%
  4. MAMastercard Inc
    −0.15 pp0.2% → 0.0%History
  5. Vanguard Morningstar Total Stock Market ETF922908769
    −0.12 pp3.0% → 2.8%

Metrics

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

Portfolio value
$196.1M
+$8.97M (+4.8%) vs. prior quarter
Positions
31
−1 vs. prior quarter
Top 10 concentration
76.6%
Top 10 as share of value
Turnover
0.8%
Q4 2025, one quarter
Average holding period
4.4 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 (Q4 2023), so positions held before then are understated.

13F filings by quarter

8 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $196.1M (Q4 2025)

Q4 2023: $100.1MQ1 2024: $118.4MQ2 2024: $129.0MQ4 2024: $144.9MQ1 2025: $135.2MQ2 2025: $165.8MQ3 2025: $187.1MQ4 2025: $196.1M
Q4 2023Q4 2025
13F filings of NRI Wealth Management LC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2025Jan 22, 202631$196.1MInvesco QQQ Trust Series IInvesco Exch Traded FD Tr IIiShares Core S&P 500 ETFvs. Q3 2025SEC
Q3 2025Jan 22, 202632$187.1MInvesco QQQ Trust Series IInvesco Exch Traded FD Tr IIiShares Core S&P 500 ETFvs. Q2 2025SEC
Q2 2025Jul 18, 202530$165.8MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard Information Technology ETFvs. Q1 2025SEC
Q1 2025Apr 23, 202525$135.2MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard Information Technology ETFvs. Q4 2024SEC
Q4 2024Jan 3, 202526$144.9MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard Information Technology ETF–SEC
Q2 2024Aug 7, 202427$129.0MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard Information Technology ETFvs. Q1 2024SEC
Q1 2024Aug 7, 202428$118.4MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard Information Technology ETFvs. Q4 2023SEC
Q4 2023Aug 7, 202428$100.1MiShares Core S&P 500 ETFInvesco QQQ Trust Series IVanguard Information Technology ETF–SEC