MSA Advisors, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), MSA Advisors, LLC reported 30 stock positions worth $400.2 million. Its top holding was Apollo Global Management (APO) at 30.5% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 19.0%) and Live Nation Entertainment (LYV, 7.6%). Compared with Q2 2025, it opened 2 new positions, added to 2 and reduced 3. The biggest buy was Alphabet Class C (GOOG, shares +14%) and the biggest sale Apple (AAPL, shares −43%).

Most Recent 13F
Q2 2026
Location
SANTA MONICA, CA
CIK
0001040410
Portfolio Value
$400.2M (Q3 2025)
SEC Filing
0001040410-25-000003 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $334.0M Q1 2024 Q2 2024: $348.8M Q2 2024 Q3 2024: $387.6M Q3 2024 Q4 2024: $399.8M Q4 2024 Q1 2025: $390.5M Q1 2025 Q2 2025: $398.7M Q2 2025 Q3 2025: $400.2M $400.2M Q3 2025 Q4 2025: $399.4M Q4 2025 Q1 2026: $332.7M Q1 2026 Q2 2026: $388.6M Q2 2026

Holdings 30 stocks · $400.2M
APO Apollo Global Management Inc. 30.51% 916,202 $122.1M No change
SPY SS SPDR S&P 500 ETF Trust-US 18.98% 114,009 $76.0M Reduce -5.1%
LYV Live Nation Entertainment Inc. 7.56% 185,205 $30.3M No change
SBUX Starbucks Corp. 7.27% 344,057 $29.1M No change
GOOG Alphabet Inc. Class C 5.85% 96,165 $23.4M Add +14.0%
MSFT Microsoft Corp. 5.00% 38,640 $20.0M No change
META Meta Platforms Inc. Class A 4.25% 23,136 $17.0M No change
AAPL Apple Inc. 3.82% 60,024 $15.3M Reduce -42.8%
SPOT Spotify Technology SA 3.71% 21,275 $14.8M No change
JPM JPMorgan Chase & Co. 2.46% 31,200 $9.8M No change
TPG TPG Inc. 2.43% 169,493 $9.7M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 2.42% 84,670 $9.7M Reduce -16.3%
MTN Vail Resorts Inc. 1.72% 46,000 $6.9M Add +48.4%
KLAR Klarna Group PLC 0.91% 99,768 $3.7M New
SHOP Shopify Inc. Class A 0.72% 19,500 $2.9M No change
LLY Eli Lilly & Co. 0.48% 2,500 $1.9M No change
VOO Vanguard S&P 500 ETF 0.32% 2,093 $1.3M No change
WBD Warner Bros Discovery Inc. 0.28% 56,800 $1.1M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.26% 20,000 $1.0M No change
CMCSA Comcast Corp. Class A 0.18% 22,988 $722K No change
BODI The Beachbody Co. Inc. filed as THE BEACHBODY COMPANY INC 0.17% 116,749 $691K No change
CAI Caris Life Sciences Inc. 0.15% 19,200 $581K No change
NKE Nike Inc. Class B 0.12% 7,070 $493K No change
NVDA Nvidia Corp. 0.10% 2,200 $410K No change
AMZN Amazon.com Inc. 0.10% 1,860 $408K No change
BRK.B Berkshire Hathaway Inc. Class B 0.06% 475 $239K No change
NVO Novo-Nordisk A/S-Spons ADR 0.05% 3,500 $194K No change
S Sentinelone Inc. Class A 0.05% 10,679 $188K No change
BIRK Birkenstock Holding PLC 0.05% 4,100 $186K No change
AGEN Agenus Inc. 0.01% 10,000 $39K No change

Portfolio Sells Q2 2025 → Q3 2025
AAPL Apple Inc. Reduce -42.8% 3.82% −1.58
DIS The Walt Disney Co. Reduce -16.3% 2.42% −0.74
SPY SS SPDR S&P 500 ETF Trust-US Reduce -5.1% 18.98% +0.35

Portfolio Buys Q2 2025 → Q3 2025
GOOG Alphabet Inc. Class C Add +14.0% 5.85% +2.10
KLAR Klarna Group PLC New 0.91% +0.91
MTN Vail Resorts Inc. Add +48.4% 1.72% +0.49
WBD Warner Bros Discovery Inc. New 0.28% +0.28

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 43$388.6MAPO, SPY, SBUX, LYV, GOOG
Q1 2026 50$332.7MAPO, SPY, SBUX, LYV, GOOG
Q4 2025 31$399.4MAPO, SPY, SLV, SBUX, GOOG
Q3 2025 30$400.2MAPO, SPY, LYV, SBUX, GOOG
Q2 2025 28$398.7MAPO, SPY, SBUX, LYV, AAPL
Q1 2025 30$390.5MAPO, SPY, SBUX, LYV, AAPL
Q4 2024 31$399.8MAPO, SPY, SBUX, AAPL, LYV
Q3 2024 29$387.6MAPO, SPY, SBUX, AAPL, LYV
Q2 2024 27$348.8MAPO, SPY, SBUX, AAPL, GOOG
Q1 2024 23$334.0MAPO, SPY, SBUX, MSFT, GOOG