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Livermore
Livermore
ZHEN

Money Design Co.,Ltd.

SEC CIK
0001721608
Latest filing
Jul 31, 2025

The latest 13F from Money Design Co.,Ltd. covers Q2 2025 (filed Jul 31, 2025): 72 long positions worth $2.14B. The top 10 holdings make up 64.3% of the portfolio, and the largest is Vanguard Morningstar Value ETF at 11.4%. Livermore has 21 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2025

Share counts compared with Q1 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.

Full comparison
New
0
Added
32
Est. +$128.0M
Reduced
40
Est. −$63.5M
Sold out
3
Est. −$30.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Value ETF922908744
    11.4%$244.8M
  2. Vanguard Morningstar Growth ETF922908736
    11.3%$242.9M
  3. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    8.0%$170.9M
  4. Vanguard Intl Equity Index F922042874
    6.2%$132.4M
  5. iShares Tr464288588
    6.1%$130.6M

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr464288646
    +$31.5MAdded
  2. IAUiShares Gold Trust
    +$23.6MAddedHistory
  3. Vanguard Morningstar Value ETF922908744
    +$11.6MAdded
  4. iShares Iboxx $ Investment Grade Corporate Bond ETF464287242
    +$9.80MAdded
  5. Vanguard Intl Equity Index F922042874
    +$5.98MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. iShares Tr464288646
    +1.37 pp1.7% → 3.1%
  2. Vanguard Morningstar Growth ETF922908736
    +1.31 pp10.0% → 11.3%
  3. IAUiShares Gold Trust
    +1.06 pp4.3% → 5.4%History
  4. Vanguard Intl Equity Index F922042874
    +0.47 pp5.7% → 6.2%
  5. PPLTabrdn Platinum ETF Trust
    +0.24 pp0.3% → 0.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464287432
    −$19.8MReduced
  2. iShares Inc464286665
    −$17.2MSold out
  3. Vanguard Scottsdale FDS92206C102
    −$12.1MReduced
  4. iShares Tr464287457
    −$11.6MSold out
  5. iShares Tips Bond ETF464287176
    −$7.30MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Tr464287432
    −1.46 pp5.8% → 4.4%
  2. iShares Inc464286665
    −0.86 pp0.9% → 0.0%
  3. Vanguard Scottsdale FDS92206C102
    −0.83 pp4.3% → 3.4%
  4. iShares Tr464287457
    −0.58 pp0.6% → 0.0%
  5. iShares Tips Bond ETF464287176
    −0.53 pp2.7% → 2.1%

Metrics

13F metrics for Q2 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.14B
+$135.5M (+6.8%) vs. prior quarter
Positions
72
−3 vs. prior quarter
Top 10 concentration
64.3%
Top 10 as share of value
Turnover
4.5%
Q2 2025, one quarter
Average holding period
14.3 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

18 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $2.14B (Q2 2025)

Q1 2021: $858.1MQ2 2021: $968.8MQ3 2021: $1.21BQ4 2021: $1.48BQ1 2022: $1.48BQ2 2022: $1.34BQ3 2022: $1.41BQ4 2022: $1.60BQ1 2023: $1.69BQ2 2023: $1.69BQ3 2023: $1.65BQ4 2023: $1.77BQ1 2024: $1.84BQ2 2024: $1.86BQ3 2024: $2.01BQ4 2024: $1.95BQ1 2025: $2.01BQ2 2025: $2.14B
Q1 2021Q2 2025
13F filings of Money Design Co.,Ltd. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Jul 31, 202572$2.14BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFiShares Iboxx $ Investment Grade Corporate Bond ETFvs. Q1 2025SEC
Q1 2025Apr 28, 202575$2.01BVanguard Morningstar Value ETFVanguard Morningstar Growth ETFiShares Iboxx $ Investment Grade Corporate Bond ETFvs. Q4 2024SEC
Q4 2024Jan 23, 202577$1.95BVanguard Morningstar Value ETFiShares Iboxx $ Investment Grade Corporate Bond ETFInvesco Nasdaq 100 ETFvs. Q3 2024SEC
Q3 2024Oct 9, 202476$2.01BiShares Iboxx $ Investment Grade Corporate Bond ETFVanguard Morningstar Value ETFInvesco Nasdaq 100 ETFvs. Q2 2024SEC
Q2 2024Jul 31, 202475$1.86BInvesco Nasdaq 100 ETFVanguard Morningstar Value ETFiShares Iboxx $ Investment Grade Corporate Bond ETFvs. Q1 2024SEC
Q1 2024Apr 26, 202475$1.84BVanguard Morningstar Value ETFInvesco Nasdaq 100 ETFiShares Iboxx $ Investment Grade Corporate Bond ETFvs. Q4 2023SEC
Q4 2023Jan 29, 202478$1.77BInvesco Nasdaq 100 ETFVanguard Morningstar Value ETFVanguard Scottsdale FDSvs. Q3 2023SEC
Q3 2023Oct 30, 202382$1.65BVanguard Morningstar Value ETFVanguard Scottsdale FDSiShares Trvs. Q2 2023SEC
Q2 2023Jul 28, 202383$1.69BInvesco QQQ Trust Series IVanguard Morningstar Value ETFiShares Trvs. Q1 2023SEC
Q1 2023Apr 27, 202384$1.69BVanguard Morningstar Value ETFInvesco QQQ Trust Series IiShares Trvs. Q4 2022SEC
Q4 2022Aug 3, 2023Amended88$1.60BVanguard Morningstar Value ETFiShares TriShares Trvs. Q3 2022SEC
Q3 2022Aug 3, 2023Amended85$1.41BVanguard Morningstar Value ETFiShares TriShares Trvs. Q2 2022SEC
Q2 2022Jul 12, 202281$1.34BVanguard Morningstar Value ETFVanguard Intl Equity Index FIAUvs. Q1 2022SEC
Q1 2022Apr 13, 202278$1.48BVanguard Morningstar Value ETFIAUVanguard Intl Equity Index Fvs. Q4 2021SEC
Q4 2021Aug 3, 2023Amended78$1.48BVanguard Morningstar Value ETFInvesco QQQ Trust Series IVanguard Intl Equity Index Fvs. Q3 2021SEC
Q3 2021Oct 14, 202160$1.21BiShares IncVanguard Morningstar Value ETFiShares Trvs. Q2 2021SEC
Q2 2021Aug 24, 202164$968.8MVanguard Morningstar Value ETFInvesco QQQ Trust Series IiShares Incvs. Q1 2021SEC
Q1 2021Apr 13, 202165$858.1MiShares IncVanguard Morningstar Value ETFiShares Tr–SEC