MSA Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), MSA Advisors, LLC reported 31 stock positions worth $399.4 million. Its top holding was Apollo Global Management (APO) at 31.2% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 15.6%) and iShares Silver Trust (SLV, 7.7%). Compared with Q3 2025, it opened 3 new positions, sold out of 2, added to 3 and reduced 9. The biggest buy was a new position in iShares Silver Trust (SLV) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- SANTA MONICA, CA
- CIK
- 0001040410
- Portfolio Value
- $399.4M (Q4 2025)
- SEC Filing
- 0001040410-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 31 stocks · $399.4M
| APO Apollo Global Management Inc. | 31.16% | 859,802 | $124.5M | Reduce -6.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 15.60% | 91,379 | $62.3M | Reduce -19.9% |
| SLV iShares Silver Trust | 7.71% | 477,745 | $30.8M | New |
| SBUX Starbucks Corp. | 7.25% | 344,057 | $29.0M | No change |
| GOOG Alphabet Inc. Class C | 7.13% | 90,715 | $28.5M | Reduce -5.7% |
| LYV Live Nation Entertainment Inc. | 5.28% | 147,975 | $21.1M | Reduce -20.1% |
| AAPL Apple Inc. | 4.84% | 71,143 | $19.3M | Add +18.5% |
| MSFT Microsoft Corp. | 4.37% | 36,100 | $17.5M | Reduce -6.6% |
| META Meta Platforms Inc. Class A | 4.02% | 24,336 | $16.1M | Add +5.2% |
| TPG TPG Inc. | 2.71% | 169,493 | $10.8M | No change |
| JPM JPMorgan Chase & Co. | 2.21% | 27,350 | $8.8M | Reduce -12.3% |
| MTN Vail Resorts Inc. | 2.02% | 60,600 | $8.0M | Add +31.7% |
| IBIT iShares Bitcoin Trust ETF | 1.19% | 95,670 | $4.8M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.81% | 28,590 | $3.3M | Reduce -66.2% |
| KLAR Klarna Group PLC | 0.72% | 99,768 | $2.9M | No change |
| LLY Eli Lilly & Co. | 0.67% | 2,500 | $2.7M | No change |
| SPOT Spotify Technology SA | 0.62% | 4,275 | $2.5M | Reduce -79.9% |
| VOO Vanguard S&P 500 ETF | 0.33% | 2,093 | $1.3M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.28% | 20,000 | $1.1M | No change |
| BODI The Beachbody Co. Inc. filed as THE BEACHBODY COMPANY INC | 0.23% | 90,085 | $933K | Reduce -22.8% |
| CMCSA Comcast Corp. Class A | 0.17% | 22,988 | $687K | No change |
| CAI Caris Life Sciences Inc. | 0.13% | 19,200 | $518K | No change |
| NKE Nike Inc. Class B | 0.12% | 7,070 | $493K | No change |
| AMZN Amazon.com Inc. | 0.11% | 1,860 | $429K | No change |
| NVDA Nvidia Corp. | 0.10% | 2,200 | $410K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.06% | 475 | $239K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.04% | 3,500 | $178K | No change |
| BIRK Birkenstock Holding PLC | 0.04% | 4,100 | $168K | No change |
| S Sentinelone Inc. Class A | 0.04% | 10,679 | $160K | No change |
| SATELLOGIC INC | 0.01% | 26,261 | $49K | New |
| AGEN Agenus Inc. | 0.01% | 10,000 | $31K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -19.9% | 15.60% | −3.38 |
| SPOT Spotify Technology SA | Reduce -79.9% | 0.62% | −3.09 |
| LYV Live Nation Entertainment Inc. | Reduce -20.1% | 5.28% | −2.28 |
| DIS The Walt Disney Co. | Reduce -66.2% | 0.81% | −1.61 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.72 |
| MSFT Microsoft Corp. | Reduce -6.6% | 4.37% | −0.63 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.28 |
| JPM JPMorgan Chase & Co. | Reduce -12.3% | 2.21% | −0.25 |
| BODI The Beachbody Co. Inc. | Reduce -22.8% | 0.23% | +0.06 |
| APO Apollo Global Management Inc. | Reduce -6.2% | 31.16% | +0.65 |
| GOOG Alphabet Inc. Class C | Reduce -5.7% | 7.13% | +1.27 |
Portfolio Buys Q3 2025 → Q4 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $388.6M | APO, SPY, SBUX, LYV, GOOG |
| Q1 2026 | 50 | $332.7M | APO, SPY, SBUX, LYV, GOOG |
| Q4 2025 | 31 | $399.4M | APO, SPY, SLV, SBUX, GOOG |
| Q3 2025 | 30 | $400.2M | APO, SPY, LYV, SBUX, GOOG |
| Q2 2025 | 28 | $398.7M | APO, SPY, SBUX, LYV, AAPL |
| Q1 2025 | 30 | $390.5M | APO, SPY, SBUX, LYV, AAPL |
| Q4 2024 | 31 | $399.8M | APO, SPY, SBUX, AAPL, LYV |
| Q3 2024 | 29 | $387.6M | APO, SPY, SBUX, AAPL, LYV |
| Q2 2024 | 27 | $348.8M | APO, SPY, SBUX, AAPL, GOOG |
| Q1 2024 | 23 | $334.0M | APO, SPY, SBUX, MSFT, GOOG |