MSA Advisors, LLC Concentrated Active

Location: Santa Monica, CA

CIK: 0001040410 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $399M (100.0% shares, 0.0% debt)

Holdings (31)

APO APOLLO GLOBAL MANAGEMENT INC 31.2%

Value $124M Shares 859,802 Est. Cost $95.70 Unrealized +38.5%

SPY SPDR S&P 500 ETF TRUST 15.6%

Value $62.31M Shares 91,379 Est. Cost $476.12 Unrealized —

SLV iShares Silver Trust 7.7%

Value $30.78M Shares 477,745 Est. Cost $64.42 Unrealized —

SBUX STARBUCKS CORP 7.3%

Value $28.97M Shares 344,057 Est. Cost $89.63 Unrealized -6.2%

GOOG ALPHABET INC 7.1%

Value $28.47M Shares 90,715 Est. Cost $147.31 Unrealized +94.4%

LYV LIVE NATION ENTERTAINMENT IN 5.3%

Value $21.09M Shares 147,975 Est. Cost $97.60 Unrealized +47.3%

AAPL APPLE INC 4.8%

Value $19.34M Shares 71,143 Est. Cost $204.46 Unrealized +31.2%

MSFT MICROSOFT CORP 4.4%

Value $17.46M Shares 36,100 Est. Cost $366.16 Unrealized +36.7%

META META PLATFORMS INC 4.0%

Value $16.06M Shares 24,336 Est. Cost $491.84 Unrealized +35.7%

TPG TPG INC 2.7%

Value $10.82M Shares 169,493 Est. Cost $33.76 Unrealized +74.9%

JPM JPMORGAN CHASE & CO. 2.2%

Value $8.813M Shares 27,350 Est. Cost $157.97 Unrealized +95.9%

MTN VAIL RESORTS INC 2.0%

Value $8.048M Shares 60,600 Est. Cost $149.87 Unrealized -1.8%

IBIT ISHARES BITCOIN TRUST 1.2%

Value $4.75M Shares 95,670 Est. Cost $49.65 Unrealized —

DIS DISNEY WALT CO 0.8%

Value $3.253M Shares 28,590 Est. Cost $90.89 Unrealized +20.5%

KLAR KLARNA GROUP PLC 0.7%

Value $2.884M Shares 99,768 Est. Cost $42.59 Unrealized -19.4%

LLY KLARNA GROUP PLC 0.7%

Value $2.687M Shares 2,500 Est. Cost $746.18 Unrealized +28.1%

SPOT SPOTIFY TECHNOLOGY S A 0.6%

Value $2.483M Shares 4,275 Est. Cost $481.66 Unrealized +29.8%

VOO VANGUARD INDEX FDS 0.3%

Value $1.313M Shares 2,093 Est. Cost $527.67 Unrealized —

BAC BANK AMERICA CORP 0.3%

Value $1.1M Shares 20,000 Est. Cost $27.61 Unrealized +90.7%

BODI THE BEACHBODY COMPANY INC 0.2%

Value $933K Shares 90,085 Est. Cost $10.69 Unrealized -28.2%

CMCSA COMCAST CORP NEW 0.2%

Value $687K Shares 22,988 Est. Cost $39.99 Unrealized -28.7%

CAI CARIS LIFE SCIENCES INC 0.1%

Value $518K Shares 19,200 Est. Cost $26.95 Unrealized +4.5%

NKE NIKE INC 0.1%

Value $493K Shares 7,070 Est. Cost $102.99 Unrealized -37.0%

AMZN AMAZON COM INC 0.1%

Value $429K Shares 1,860 Est. Cost $190.08 Unrealized +20.4%

NVDA NVIDIA CORPORATION 0.1%

Value $410K Shares 2,200 Est. Cost $101.05 Unrealized +84.2%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value $239K Shares 475 Est. Cost $442.18 Unrealized +12.5%

NVO NOVO-NORDISK A S 0.0%

Value $178K Shares 3,500 Est. Cost $103.45 Unrealized —

BIRK BIRKENSTOCK HOLDING PLC 0.0%

Value $168K Shares 4,100 Est. Cost $51.40 Unrealized -17.6%

S SENTINELONE INC 0.0%

Value $160K Shares 10,679 Est. Cost $26.13 Unrealized -37.3%

— SATELLOGIC INC 0.0%

Value $49,108 Shares 26,261 Est. Cost $1.87 Unrealized —

AGEN AGENUS INC 0.0%

Value $31,400 Shares 10,000 Est. Cost $3.46 Unrealized +15.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
APO	APOLLO GLOBAL MANAGEMENT INC	859,802	$124M	31.2%	$95.70	+38.5%	COM	03769M106
SPY	SPDR S&P 500 ETF TRUST	91,379	$62.31M	15.6%	$476.12	—	TR UNIT	78462F103
SLV	iShares Silver Trust	477,745	$30.78M	7.7%	$64.42	—	ISHARES	46428Q109
SBUX	STARBUCKS CORP	344,057	$28.97M	7.3%	$89.63	-6.2%	COM	855244109
GOOG	ALPHABET INC	90,715	$28.47M	7.1%	$147.31	+94.4%	CAP STK CL C	02079K107
LYV	LIVE NATION ENTERTAINMENT IN	147,975	$21.09M	5.3%	$97.60	+47.3%	COM	538034109
AAPL	APPLE INC	71,143	$19.34M	4.8%	$204.46	+31.2%	COM	037833100
MSFT	MICROSOFT CORP	36,100	$17.46M	4.4%	$366.16	+36.7%	COM	594918104
META	META PLATFORMS INC	24,336	$16.06M	4.0%	$491.84	+35.7%	CL A	30303M102
TPG	TPG INC	169,493	$10.82M	2.7%	$33.76	+74.9%	COM CL A	872657101
JPM	JPMORGAN CHASE & CO.	27,350	$8.813M	2.2%	$157.97	+95.9%	COM	46625H100
MTN	VAIL RESORTS INC	60,600	$8.048M	2.0%	$149.87	-1.8%	COM	91879Q109
IBIT	ISHARES BITCOIN TRUST	95,670	$4.75M	1.2%	$49.65	—	ETF SHS BEN INT	46438F101
DIS	DISNEY WALT CO	28,590	$3.253M	0.8%	$90.89	+20.5%	COM	254687106
KLAR	KLARNA GROUP PLC	99,768	$2.884M	0.7%	$42.59	-19.4%	SHS	G5279N105
LLY	KLARNA GROUP PLC	2,500	$2.687M	0.7%	$746.18	+28.1%	SHS	532457108
SPOT	SPOTIFY TECHNOLOGY S A	4,275	$2.483M	0.6%	$481.66	+29.8%	SHS	L8681T102
VOO	VANGUARD INDEX FDS	2,093	$1.313M	0.3%	$527.67	—	S&P 500 ETF SHS	922908363
BAC	BANK AMERICA CORP	20,000	$1.1M	0.3%	$27.61	+90.7%	COM	060505104
BODI	THE BEACHBODY COMPANY INC	90,085	$933K	0.2%	$10.69	-28.2%	COM CL A NEW	073463309
CMCSA	COMCAST CORP NEW	22,988	$687K	0.2%	$39.99	-28.7%	CL A	20030N101
CAI	CARIS LIFE SCIENCES INC	19,200	$518K	0.1%	$26.95	+4.5%	COM	142152107
NKE	NIKE INC	7,070	$493K	0.1%	$102.99	-37.0%	CL B	654106103
AMZN	AMAZON COM INC	1,860	$429K	0.1%	$190.08	+20.4%	COM	023135106
NVDA	NVIDIA CORPORATION	2,200	$410K	0.1%	$101.05	+84.2%	COM	67066G104
BRK/B	BERKSHIRE HATHAWAY INC DEL	475	$239K	0.1%	$442.18	+12.5%	CL B NEW	084670702
NVO	NOVO-NORDISK A S	3,500	$178K	0.0%	$103.45	—	ADR	670100205
BIRK	BIRKENSTOCK HOLDING PLC	4,100	$168K	0.0%	$51.40	-17.6%	COM SHS	M2029K104
S	SENTINELONE INC	10,679	$160K	0.0%	$26.13	-37.3%	CL A	81730H109
—	SATELLOGIC INC	26,261	$49,108	0.0%	$1.87	—	COM CL A	80401C900
AGEN	AGENUS INC	10,000	$31,400	0.0%	$3.46	+15.0%	COM NEW	00847G804