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Livermore
Livermore
ZHEN

Divergent Planning, LLC

SEC CIK
0001730787
Latest filing
Jan 12, 2026

The latest 13F from Divergent Planning, LLC covers Q4 2025 (filed Jan 12, 2026): 36 long positions worth $391.5M. The top 10 holdings make up 90.4% of the portfolio, and the largest is iShares Core S&P 500 ETF at 26.1%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2025

Share counts compared with Q3 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
2
Est. +$1.00M
Added
16
Est. +$8.25M
Reduced
10
Est. −$649.0K
Sold out
1
Est. −$475.8K

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    26.1%$102.1M
  2. American Centy ETF Tr025072802
    12.8%$50.2M
  3. MDYSPDR S&P Midcap 400 ETF Trust
    11.9%$46.6MHistory
  4. Janus Detroit STR Tr47103U852
    10.7%$41.8M
  5. American Centy ETF Tr025072885
    7.0%$27.3M

Biggest buys

New and added positions, by estimated amount bought

  1. Janus Detroit STR Tr47103U852
    +$1.99MAdded
  2. Janus Detroit STR Tr47103U845
    +$1.21MAdded
  3. MDYSPDR S&P Midcap 400 ETF Trust
    +$1.20MAddedHistory
  4. RBB FD Inc74933W452
    +$970.7KAdded
  5. iShares Core S&P 500 ETF464287200
    +$898.9KAdded

Largest weight increases

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

  1. MSMorgan Stanley
    +0.19 pp0.0% → 0.2%History
  2. RBB FD Inc74933W452
    +0.14 pp2.8% → 2.9%
  3. Janus Detroit STR Tr47103U845
    +0.10 pp5.3% → 5.4%
  4. Janus Detroit STR Tr47103U852
    +0.08 pp10.6% → 10.7%
  5. iShares Tr464289883
    +0.06 pp0.0% → 0.1%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BRK.BBerkshire Hathaway Inc
    −$475.8KSold outHistory
  2. American Centy ETF Tr025072802
    −$201.2KReduced
  3. Vanguard Total World Stock ETF922042742
    −$89.1KReduced
  4. MSFTMicrosoft Corp
    −$79.9KReducedHistory
  5. AAPLApple Inc.
    −$72.1KReducedHistory

Largest weight decreases

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

  1. BRK.BBerkshire Hathaway Inc
    −0.13 pp0.1% → 0.0%History
  2. MSFTMicrosoft Corp
    −0.05 pp0.2% → 0.2%History
  3. Vanguard Total World Stock ETF922042742
    −0.03 pp0.3% → 0.3%
  4. Vanguard Morningstar Mid-Cap ETF922908629
    −0.02 pp0.2% → 0.2%
  5. NVDANVIDIA Corp
    −0.01 pp0.1% → 0.1%History

Metrics

13F metrics for Q4 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$391.5M
+$15.4M (+4.1%) vs. prior quarter
Positions
36
+1 vs. prior quarter
Top 10 concentration
90.4%
Top 10 as share of value
Turnover
0.3%
Q4 2025, one quarter
Average holding period
14.8 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

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

Peak $391.5M (Q4 2025)

Q1 2021: $117.2MQ2 2021: $123.4MQ3 2021: $123.7MQ4 2021: $136.6MQ1 2022: $156.3MQ2 2022: $139.2MQ3 2022: $135.8MQ4 2022: $159.0MQ1 2023: $177.7MQ2 2023: $190.9MQ3 2023: $185.7MQ4 2023: $207.1MQ1 2024: $236.7MQ2 2024: $250.9MQ3 2024: $268.3MQ4 2024: $292.4MQ1 2025: $301.4MQ2 2025: $338.4MQ3 2025: $376.2MQ4 2025: $391.5M
Q1 2021Q4 2025
13F filings of Divergent Planning, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2025Jan 12, 202636$391.5MiShares Core S&P 500 ETFAmerican Centy ETF TrMDYvs. Q3 2025SEC
Q3 2025Oct 27, 2025Amended35$376.2MiShares Core S&P 500 ETFAmerican Centy ETF TrMDYvs. Q2 2025SEC
Q2 2025Jul 30, 2025Amended35$338.4MiShares Core S&P 500 ETFAmerican Centy ETF TrMDYvs. Q1 2025SEC
Q1 2025Apr 9, 202530$301.4MiShares Core S&P 500 ETFMDYAmerican Centy ETF Trvs. Q4 2024SEC
Q4 2024Jan 16, 202528$292.4MiShares Core S&P 500 ETFMDYAmerican Centy ETF Trvs. Q3 2024SEC
Q3 2024Oct 7, 202429$268.3MiShares Core S&P 500 ETFMDYJanus Detroit STR Trvs. Q2 2024SEC
Q2 2024Jul 12, 202428$250.9MiShares Core S&P 500 ETFMDYJanus Detroit STR Trvs. Q1 2024SEC
Q1 2024Apr 12, 202428$236.7MiShares Core S&P 500 ETFMDYJanus Detroit STR Trvs. Q4 2023SEC
Q4 2023Jan 10, 202426$207.1MiShares Core S&P 500 ETFMDYJanus Detroit STR Trvs. Q3 2023SEC
Q3 2023Oct 13, 202324$185.7MiShares Core S&P 500 ETFJanus Detroit STR TrMDYvs. Q2 2023SEC
Q2 2023Jul 12, 202326$190.9MiShares Core S&P 500 ETFMDYJanus Detroit STR Trvs. Q1 2023SEC
Q1 2023Apr 7, 202322$177.7MiShares Core S&P 500 ETFJanus Detroit STR TrMDYvs. Q4 2022SEC
Q4 2022Jan 19, 202318$159.0MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFJanus Detroit STR Trvs. Q3 2022SEC
Q3 2022Oct 12, 202222$135.8MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFJanus Detroit STR Trvs. Q2 2022SEC
Q2 2022Jul 11, 202218$139.2MiShares Core S&P 500 ETFJanus Detroit STR TrVanguard Morningstar Mid-Cap ETFvs. Q1 2022SEC
Q1 2022Apr 14, 202221$156.3MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFJanus Detroit STR Trvs. Q4 2021SEC
Q4 2021Jan 14, 202218$136.6MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFVanguard Ftse All-World Ex-US Small-Cap ETFvs. Q3 2021SEC
Q3 2021Oct 15, 202116$123.7MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFVanguard Ftse All-World Ex-US Small-Cap ETFvs. Q2 2021SEC
Q2 2021Jul 22, 202117$123.4MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFVanguard Ftse All-World Ex-US Small-Cap ETFvs. Q1 2021SEC
Q1 2021Apr 23, 202116$117.2MiShares Core S&P 500 ETFVanguard Morningstar Mid-Cap ETFVanguard Total World Stock ETF–SEC