Skip to main content
Livermore
Livermore
ZHEN

Sebold Capital Management, Inc.

SEC CIK
0001972836
Latest filing
Aug 5, 2025

The latest 13F from Sebold Capital Management, Inc. covers Q2 2025 (filed Aug 5, 2025): 78 long positions worth $162.3M. The top 10 holdings make up 56.6% of the portfolio, and the largest is Invesco Exchange Traded FD T at 16.7%. Livermore has 12 filings on Form 13F from this institution, going back to Q4 2022.

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
8
Est. +$3.00M
Added
28
Est. +$4.09M
Reduced
36
Est. −$6.71M
Sold out
3
Est. −$756.8K

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco Exchange Traded FD T46137V357
    16.7%$27.1M
  2. Vanguard Morningstar Mid-Cap ETF922908629
    7.6%$12.3M
  3. Vanguard Dividend Appreciation ETF921908844
    7.4%$12.0M
  4. Schwab Fundamental Emerging Markets Equity ETF808524730
    5.6%$9.13M
  5. Vanguard Ftse Developed Markets ETF921943858
    4.7%$7.56M

Share of portfolio

Top 5 holdings and the other 73 positions, by share of portfolio value

  1. Invesco Exchange Traded FD T16.7%
  2. Vanguard Morningstar Mid-Cap ETF7.6%
  3. Vanguard Dividend Appreciation ETF7.4%
  4. Schwab Fundamental Emerging Markets Equity ETF5.6%
  5. Vanguard Ftse Developed Markets ETF4.7%
  6. Other 73 positions58.1%

Biggest buys

New and added positions, by estimated amount bought

  1. Allspring Exchange Traded Fu01989A209
    +$1.07MAdded
  2. VanEck ETF Trust92189H409
    +$936.4KNew
  3. Vanguard Dividend Appreciation ETF921908844
    +$579.2KAdded
  4. Schwab Fundamental Emerging Markets Equity ETF808524730
    +$510.7KAdded
  5. Invesco S&P 500 Quality ETF46137V241
    +$502.3KNew

Largest weight increases

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

  1. VanEck ETF Trust92189H409
    +0.58 pp0.0% → 0.6%
  2. Allspring Exchange Traded Fu01989A209
    +0.55 pp1.8% → 2.3%
  3. Schwab Fundamental Emerging Markets Equity ETF808524730
    +0.34 pp5.3% → 5.6%
  4. Invesco S&P 500 Quality ETF46137V241
    +0.31 pp0.0% → 0.3%
  5. Vanguard Dividend Appreciation ETF921908844
    +0.28 pp7.1% → 7.4%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. First Tr Exch Traded FD III33739N108
    −$1.39MReduced
  2. SPDR Series Trust78464A284
    −$1.17MReduced
  3. First Tr Exchange-Traded FD33739Q408
    −$1.08MReduced
  4. Vanguard Admiral FDS Inc921932828
    −$403.5KReduced
  5. Invesco Exchange Traded FD T46137V357
    −$365.7KReduced

Largest weight decreases

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

  1. First Tr Exch Traded FD III33739N108
    −0.99 pp1.8% → 0.8%
  2. First Tr Exchange-Traded FD33739Q408
    −0.87 pp3.3% → 2.4%
  3. SPDR Series Trust78464A284
    −0.82 pp1.3% → 0.5%
  4. Invesco Exchange Traded FD T46137V357
    −0.51 pp17.2% → 16.7%
  5. Vanguard Admiral FDS Inc921932828
    −0.30 pp2.9% → 2.6%

Metrics

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

Portfolio value
$162.3M
+$10.2M (+6.7%) vs. prior quarter
Positions
78
+5 vs. prior quarter
Top 10 concentration
56.6%
Top 10 as share of value
Turnover
4.5%
Q2 2025, one quarter
Average holding period
10.2 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

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

Peak $162.3M (Q2 2025)

Q4 2022: $121.8MQ1 2023: $126.8MQ2 2023: $125.4MQ3 2023: $122.5MQ4 2023: $135.4MQ1 2024: $148.2MQ2 2024: $144.8MQ3 2024: $151.7MQ4 2024: $149.2MQ1 2025: $152.1MQ2 2025: $162.3M
Q4 2022Q2 2025
13F filings of Sebold Capital Management, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2025Aug 5, 202578$162.3MInvesco Exchange Traded FD TVanguard Morningstar Mid-Cap ETFVanguard Dividend Appreciation ETFvs. Q1 2025SEC
Q1 2025Apr 28, 202573$152.1MInvesco Exchange Traded FD TVanguard Morningstar Mid-Cap ETFVanguard Dividend Appreciation ETFvs. Q4 2024SEC
Q4 2024Jan 14, 202571$149.2MInvesco Exchange Traded FD TVanguard Morningstar Mid-Cap ETFVanguard Dividend Appreciation ETFvs. Q3 2024SEC
Q3 2024Oct 22, 202469$151.7MInvesco Exchange Traded FD TVanguard Dividend Appreciation ETFVanguard Morningstar Mid-Cap ETFvs. Q2 2024SEC
Q2 2024Aug 12, 202471$144.8MInvesco Exchange Traded FD TVanguard Dividend Appreciation ETFVanguard Morningstar Mid-Cap ETFvs. Q1 2024SEC
Q1 2024Apr 11, 202471$148.2MInvesco Exchange Traded FD TVanguard Morningstar Mid-Cap ETFVanguard Dividend Appreciation ETFvs. Q4 2023SEC
Q4 2023Jan 18, 202468$135.4MInvesco Exchange Traded FD TVanguard Morningstar Mid-Cap ETFVanguard Dividend Appreciation ETFvs. Q3 2023SEC
Q3 2023Oct 23, 202367$122.5MInvesco Exchange Traded FD TVanguard Morningstar Mid-Cap ETFVanguard Admiral FDS Incvs. Q2 2023SEC
Q2 2023Jul 28, 202367$125.4MInvesco Exchange Traded FD TiShares Core S&P Mid-Cap ETFVanguard Morningstar Mid-Cap ETFvs. Q1 2023SEC
Q1 2023May 12, 2023Amended69$126.8MInvesco Exchange Traded FD TiShares Core S&P Mid-Cap ETFVanguard Morningstar Mid-Cap ETFvs. Q4 2022SEC
Q4 2022May 12, 202369$121.8MInvesco Exchange Traded FD TiShares Core S&P Mid-Cap ETFiShares Core S&P Small Cap ETF–SEC