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Livermore
Livermore
ZHEN

Fee-Only Financial Planning, L.C.

SEC CIK
0001954044
Latest filing
Jul 29, 2026

The latest 13F from Fee-Only Financial Planning, L.C. covers Q2 2026 (filed Jul 29, 2026): 45 long positions worth $186.6M. The top 10 holdings make up 87.1% of the portfolio, and the largest is Vanguard Morningstar Growth ETF at 29.1%. Livermore has 18 filings on Form 13F from this institution, going back to Q4 2022.

What changed in Q2 2026

Share counts compared with Q1 2026: 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
5
Est. +$1.10M
Added
3
Est. +$50.1K
Reduced
20
Est. −$2.35M
Sold out
3
Est. −$738.2K

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Growth ETF922908736
    29.1%$54.2M
  2. Vanguard Morningstar Value ETF922908744
    18.8%$35.0M
  3. Vanguard Morningstar Mid-Cap ETF922908629
    8.6%$16.1M
  4. Vanguard Morningstar Small-Cap ETF922908751
    6.9%$13.0M
  5. Vanguard Morningstar Small-Cap Value ETF922908611
    6.8%$12.6M

Share of portfolio

Top 5 holdings and the other 40 positions, by share of portfolio value

  1. Vanguard Morningstar Growth ETF29.1%
  2. Vanguard Morningstar Value ETF18.8%
  3. Vanguard Morningstar Mid-Cap ETF8.6%
  4. Vanguard Morningstar Small-Cap ETF6.9%
  5. Vanguard Morningstar Small-Cap Value ETF6.8%
  6. Other 40 positions29.8%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares S&P Small-Cap 600 Growth ETF464287887
    +$235.8KNew
  2. Invesco QQQ Trust Series I46090E103
    +$231.8KNew
  3. iShares S&P Small-Cap 600 Value ETF464287879
    +$218.7KNew
  4. iShares S&P Mid-Cap 400 Value ETF464287705
    +$212.7KNew
  5. NSCNorfolk Southern Corp
    +$202.9KNewHistory

Largest weight increases

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

  1. iShares S&P Small-Cap 600 Growth ETF464287887
    +0.13 pp0.0% → 0.1%
  2. Invesco QQQ Trust Series I46090E103
    +0.12 pp0.0% → 0.1%
  3. iShares S&P Small-Cap 600 Value ETF464287879
    +0.12 pp0.0% → 0.1%
  4. iShares S&P Mid-Cap 400 Value ETF464287705
    +0.11 pp0.0% → 0.1%
  5. NSCNorfolk Southern Corp
    +0.11 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Value ETF922908744
    −$802.4KReduced
  2. Vanguard Morningstar Growth ETF922908736
    −$595.1KReducedConverted for a 6-for-1 split
  3. Vanguard Real Estate ETF922908553
    −$300.3KSold out
  4. CMCSAComcast Corp
    −$228.8KSold outHistory
  5. EDConsolidated Edison Inc
    −$209.0KSold outHistory

Largest weight decreases

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

  1. Vanguard Morningstar Value ETF922908744
    −0.70 pp19.5% → 18.8%
  2. Vanguard Energy ETF92204A306
    −0.22 pp0.7% → 0.5%
  3. Vanguard Real Estate ETF922908553
    −0.18 pp0.2% → 0.0%
  4. XOMExxonMobil Holdings Corp
    −0.16 pp0.5% → 0.4%History
  5. CMCSAComcast Corp
    −0.14 pp0.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$186.6M
+$20.9M (+12.6%) vs. prior quarter
Positions
45
+2 vs. prior quarter
Top 10 concentration
87.1%
Top 10 as share of value
Turnover
0.7%
Q2 2026, 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 (Q4 2022), so positions held before then are understated.

13F filings by quarter

15 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $186.6M (Q2 2026)

Q4 2022: $119.4MQ1 2023: $123.1MQ2 2023: $131.0MQ3 2023: $124.1MQ4 2023: $138.5MQ1 2024: $148.2MQ2 2024: $148.5MQ3 2024: $156.1MQ4 2024: $154.8MQ1 2025: $146.5MQ2 2025: $161.5MQ3 2025: $171.4MQ4 2025: $171.5MQ1 2026: $165.7MQ2 2026: $186.6M
Q4 2022Q2 2026
13F filings of Fee-Only Financial Planning, L.C. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 29, 202645$186.6MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q1 2026SEC
Q1 2026Apr 29, 202643$165.7MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q4 2025SEC
Q4 2025Jan 26, 202642$171.5MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q3 2025SEC
Q3 2025Oct 27, 202542$171.4MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q2 2025SEC
Q2 2025Jul 17, 202541$161.5MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q1 2025SEC
Q1 2025May 2, 202541$146.5MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 5, 202540$154.8MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q3 2024SEC
Q3 2024Nov 4, 202440$156.1MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q2 2024SEC
Q2 2024Aug 5, 202440$148.5MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q1 2024SEC
Q1 2024Apr 25, 202441$148.2MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q4 2023SEC
Q4 2023Feb 6, 202441$138.5MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q3 2023SEC
Q3 2023Apr 23, 2024Amended40$124.1MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q2 2023SEC
Q2 2023Apr 23, 2024Amended43$131.0MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q1 2023SEC
Q1 2023Apr 23, 2024Amended42$123.1MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETFvs. Q4 2022SEC
Q4 2022Feb 3, 202340$119.4MVanguard Morningstar Growth ETFVanguard Morningstar Value ETFVanguard Morningstar Mid-Cap ETF–SEC