Sensible Financial Planning & Management, LLC.
- SEC CIK
- 0001567738
- Latest filing
- Nov 5, 2025
The latest 13F from Sensible Financial Planning & Management, LLC. covers Q3 2025 (filed Nov 5, 2025): 31 long positions worth $550.7M. The top 10 holdings make up 82.1% of the portfolio, and the largest is Schwab US Tips ETF at 15.1%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.
What changed in Q3 2025
Share counts compared with Q2 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
- 15
- Est. +$15.9M
- Reduced
- 15
- Est. −$3.00M
- Sold out
- 6
- Est. −$3.93M
Top 5 holdings
Share of this quarter's portfolio value
- Schwab US Tips ETF80852487015.1%$83.2M
- Vanguard Total International Bond ETF92203J40715.1%$83.0M
- iShares Tr46428858813.8%$75.7M
- iShares Broad Usd Investment Grade Corporate Bond ETF46428862013.4%$73.5M
- Vanguard S&P 500 ETF9229083635.0%$27.6M
Share of portfolio
Top 5 holdings and the other 26 positions, by share of portfolio value
- Schwab US Tips ETF15.1%
- Vanguard Total International Bond ETF15.1%
- iShares Tr13.8%
- iShares Broad Usd Investment Grade Corporate Bond ETF13.4%
- Vanguard S&P 500 ETF5.0%
- Other 26 positions37.7%
Biggest buys
New and added positions, by estimated amount bought
- iShares Tr464288588+$5.51MAdded
- Vanguard Total International Bond ETF92203J407+$3.57MAdded
- Schwab US Tips ETF808524870+$1.79MAdded
- Vanguard S&P 500 ETF922908363+$1.39MAdded
- Dimensional ETF Trust25434V856+$1.00MAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- iShares Tr464288588+0.60 pp13.2% → 13.8%
- Vanguard S&P 500 ETF922908363+0.40 pp4.6% → 5.0%
- SPDR Series Trust78468R796+0.21 pp3.7% → 3.9%
- Vanguard Morningstar Total Stock Market ETF922908769+0.15 pp4.6% → 4.7%
- Dimensional ETF Trust25434V856+0.14 pp1.4% → 1.5%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- iShares MSCI USA Momentum Factor ETF46432F396−$946.0KReduced
- Ea Series Trust02072L433−$843.5KSold out
- Ea Series Trust02072Q663−$742.1KSold out
- Vanguard World FD921910873−$693.2KReduced
- SPDR Index Shs FDS78470E106−$657.0KSold out
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- Ea Series Trust02072L433−0.16 pp0.2% → 0.0%
- Ea Series Trust02072Q663−0.14 pp0.1% → 0.0%
- SPDR Index Shs FDS78470E106−0.12 pp0.1% → 0.0%
- Ea Series Trust02072L185−0.11 pp0.1% → 0.0%
- SPDR Series Trust78464A672−0.11 pp0.1% → 0.0%
Metrics
13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $550.7M
- +$24.0M (+4.6%) vs. prior quarter
- Positions
- 31
- −6 vs. prior quarter
- Top 10 concentration
- 82.1%
- Top 10 as share of value
- Turnover
- 1.3%
- Q3 2025, one quarter
- Average holding period
- 17.3 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
19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $550.7M (Q3 2025)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q3 2025 | Nov 5, 2025 | 31 | $550.7M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Tr | vs. Q2 2025 | SEC |
| Q2 2025 | Aug 8, 2025 | 37 | $526.6M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q1 2025 | SEC |
| Q1 2025 | Apr 28, 2025 | 30 | $501.0M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q4 2024 | SEC |
| Q4 2024 | Feb 7, 2025 | 29 | $482.5M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q3 2024 | SEC |
| Q3 2024 | Oct 28, 2024 | 53 | $506.5M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q2 2024 | SEC |
| Q2 2024 | Jul 18, 2024 | 27 | $462.8M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q1 2024 | SEC |
| Q1 2024 | May 6, 2024 | 29 | $452.3M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q4 2023 | SEC |
| Q4 2023 | Feb 2, 2024 | 27 | $426.3M | Schwab US Tips ETFiShares Broad Usd Investment Grade Corporate Bond ETFVanguard Total International Bond ETF | vs. Q3 2023 | SEC |
| Q3 2023 | Oct 27, 2023 | 28 | $397.7M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q2 2023 | SEC |
| Q2 2023 | Aug 3, 2023 | 32 | $425.8M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q1 2023 | SEC |
| Q1 2023 | Apr 14, 2023 | 32 | $423.8M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q4 2022 | SEC |
| Q4 2022 | Feb 2, 2023 | 32 | $402.5M | Schwab US Tips ETFiShares Broad Usd Investment Grade Corporate Bond ETFVanguard Total International Bond ETF | vs. Q3 2022 | SEC |
| Q3 2022 | Nov 7, 2022 | 43 | $388.8M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q2 2022 | SEC |
| Q2 2022 | Aug 4, 2022 | 47 | $396.3M | Schwab US Tips ETFVanguard Total International Bond ETFiShares Broad Usd Investment Grade Corporate Bond ETF | vs. Q1 2022 | SEC |
| Q1 2022 | May 18, 2022 | 43 | $374.2M | Vanguard Total International Bond ETFSchwab US Aggregate Bond ETFSchwab US Tips ETF | vs. Q4 2021 | SEC |
| Q4 2021 | Feb 11, 2022 | 43 | $351.8M | Vanguard Total International Bond ETFSchwab US Aggregate Bond ETFVanguard Intermediate-Term Bond ETF | vs. Q3 2021 | SEC |
| Q3 2021 | Nov 9, 2021 | 44 | $307.0M | Vanguard Total International Bond ETFSchwab US Aggregate Bond ETFVanguard Morningstar Total Stock Market ETF | vs. Q2 2021 | SEC |
| Q2 2021 | Jul 29, 2021 | 44 | $296.2M | Vanguard Total International Bond ETFSchwab US Aggregate Bond ETFVanguard Morningstar Total Stock Market ETF | vs. Q1 2021 | SEC |
| Q1 2021 | May 17, 2021 | 42 | $272.4M | Vanguard Total International Bond ETFSchwab US Aggregate Bond ETFVanguard Morningstar Total Stock Market ETF | – | SEC |