Efficient Advisors, LLC
- SEC CIK
- 0001542164
- Latest filing
- Apr 29, 2026
The latest 13F from Efficient Advisors, LLC covers Q1 2026 (filed Apr 29, 2026): 58 long positions worth $1.41B. The top 10 holdings make up 60.0% of the portfolio, and the largest is Vanguard Total Bond Market ETF at 8.1%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.
What changed in Q1 2026
Share counts compared with Q4 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.
- New
- 0
- Added
- 8
- Est. +$9.47M
- Reduced
- 47
- Est. −$319.9M
- Sold out
- 0
Top 5 holdings
Share of this quarter's portfolio value
- Vanguard Total Bond Market ETF9219378358.1%$113.7M
- Vanguard Intermediate-Term Bond ETF9219378197.8%$109.2M
- Vanguard Morningstar Total Stock Market ETF9229087697.6%$106.6M
- Vanguard S&P 500 ETF9229083636.9%$97.0M
- Vanguard Morningstar Value ETF9229087446.9%$96.9M
Biggest buys
New and added positions, by estimated amount bought
- Vanguard Intermediate-Term Bond ETF921937819+$3.27MAdded
- Vanguard Total Bond Market ETF921937835+$2.35MAdded
- Vanguard Total International Bond ETF92203J407+$1.32MAdded
- Vanguard Malvern FDS922020805+$1.29MAdded
- Vanguard Scottsdale FDS92206C409+$1.17MAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Vanguard Total Bond Market ETF921937835+1.54 pp6.5% → 8.1%
- Vanguard Intermediate-Term Bond ETF921937819+1.51 pp6.2% → 7.8%
- Vanguard Malvern FDS922020805+0.56 pp2.1% → 2.6%
- Vanguard Total International Bond ETF92203J407+0.52 pp2.0% → 2.6%
- Vanguard Scottsdale FDS92206C409+0.52 pp2.1% → 2.6%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- Vanguard Morningstar Small-Cap Value ETF922908611−$36.9MReduced
- Vanguard Morningstar Small-Cap ETF922908751−$26.9MReduced
- iShares Core U.S. Aggregate Bond ETF464287226−$23.0MReduced
- Dimensional U.S. Core Equity 2 ETF25434V708−$21.1MReduced
- Dimensional ETF Trust25434V799−$18.6MReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- iShares Core U.S. Aggregate Bond ETF464287226−1.03 pp2.9% → 1.9%
- Dimensional U.S. Core Equity 2 ETF25434V708−0.91 pp3.1% → 2.2%
- Vanguard Morningstar Small-Cap Value ETF922908611−0.88 pp7.0% → 6.1%
- Dimensional ETF Trust25434V799−0.72 pp2.4% → 1.6%
- Dimensional ETF Trust25434V831−0.64 pp2.5% → 1.9%
Metrics
13F metrics for Q1 2026, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $1.41B
- −$305.0M (−17.8%) vs. prior quarter
- Positions
- 58
- 0 vs. prior quarter
- Top 10 concentration
- 60.0%
- Top 10 as share of value
- Turnover
- 0.6%
- Q1 2026, one quarter
- Average holding period
- 19.6 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
21 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $1.77B (Q3 2025)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q1 2026 | Apr 29, 2026 | 58 | $1.41B | Vanguard Total Bond Market ETFVanguard Intermediate-Term Bond ETFVanguard Morningstar Total Stock Market ETF | vs. Q4 2025 | SEC |
| Q4 2025 | Jan 21, 2026Amended | 58 | $1.71B | Vanguard Morningstar Total Stock Market ETFVanguard Morningstar Small-Cap Value ETFVanguard S&P 500 ETF | vs. Q3 2025 | SEC |
| Q3 2025 | Nov 10, 2025 | 58 | $1.77B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard S&P 500 ETF | vs. Q2 2025 | SEC |
| Q2 2025 | Aug 7, 2025 | 96 | $1.68B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETF | vs. Q1 2025 | SEC |
| Q1 2025 | May 6, 2025Amended | 61 | $1.54B | Vanguard Morningstar Small-Cap Value ETFVanguard Total Bond Market ETFVanguard Morningstar Total Stock Market ETF | vs. Q4 2024 | SEC |
| Q4 2024 | Feb 7, 2025 | 66 | $1.55B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETF | vs. Q3 2024 | SEC |
| Q3 2024 | Nov 12, 2024 | 66 | $1.59B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETF | vs. Q2 2024 | SEC |
| Q2 2024 | Aug 5, 2024 | 66 | $1.54B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard Total Bond Market ETF | vs. Q1 2024 | SEC |
| Q1 2024 | May 9, 2024 | 68 | $1.56B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard Morningstar Small-Cap ETF | vs. Q4 2023 | SEC |
| Q4 2023 | Feb 13, 2024Amended | 65 | $1.48B | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Total Stock Market ETFVanguard Morningstar Small-Cap ETF | vs. Q3 2023 | SEC |
| Q3 2023 | Nov 7, 2023 | 67 | $1.48B | Vanguard Total Bond Market ETFVanguard Intermediate-Term Bond ETFVanguard Morningstar Small-Cap Value ETF | vs. Q2 2023 | SEC |
| Q2 2023 | Aug 8, 2023 | 71 | $1.53B | Vanguard Morningstar Small-Cap Value ETFVanguard Total Bond Market ETFVanguard Intermediate-Term Bond ETF | vs. Q1 2023 | SEC |
| Q1 2023 | May 9, 2023 | 70 | $1.43B | Vanguard Intermediate-Term Bond ETFVanguard Total Bond Market ETFVanguard Morningstar Small-Cap Value ETF | vs. Q4 2022 | SEC |
| Q4 2022 | Feb 8, 2023 | 65 | $983.9M | Vanguard Morningstar Small-Cap Value ETFVanguard Morningstar Small-Cap ETFVanguard Morningstar Value ETF | vs. Q3 2022 | SEC |
| Q3 2022 | Nov 8, 2022 | 64 | $1.15B | Vanguard Intermediate-Term Bond ETFVanguard Total Bond Market ETFVanguard Morningstar Small-Cap Value ETF | vs. Q2 2022 | SEC |
| Q2 2022 | Aug 5, 2022 | 62 | $1.20B | Vanguard Intermediate-Term Bond ETFVanguard Total Bond Market ETFVanguard Morningstar Small-Cap Value ETF | vs. Q1 2022 | SEC |
| Q1 2022 | May 11, 2022 | 60 | $1.31B | Vanguard Morningstar Small-Cap Value ETFVanguard Intermediate-Term Bond ETFVanguard Total Bond Market ETF | vs. Q4 2021 | SEC |
| Q4 2021 | Jan 20, 2022 | 61 | $1.41B | Vanguard Morningstar Small-Cap Value ETFVanguard Intermediate-Term Bond ETFVanguard Total Bond Market ETF | vs. Q3 2021 | SEC |
| Q3 2021 | Oct 21, 2021 | 61 | $1.05B | iShares Core U.S. Aggregate Bond ETFVanguard Morningstar Small-Cap Value ETFVanguard Morningstar Small-Cap ETF | vs. Q2 2021 | SEC |
| Q2 2021 | Jul 21, 2021 | 62 | $806.3M | iShares Core U.S. Aggregate Bond ETFVanguard Morningstar Small-Cap Value ETFVanguard Short-Term Bond ETF | vs. Q1 2021 | SEC |
| Q1 2021 | Apr 28, 2021 | 59 | $729.3M | iShares Core U.S. Aggregate Bond ETFVanguard Morningstar Small-Cap Value ETFVanguard Short-Term Bond ETF | – | SEC |