# Sherman Portfolios

> Sherman Portfolios is an SEC-registered investment advisory firm in Coeur D'Alene, ID, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 22, 2026.

- CRD: 322728
- Filed as: SHERMAN PORTFOLIOS
- Legal name: True Freedom Investing, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Coeur D'Alene, ID
- Filing period: October 2026
- Form ADV filing dated: September 22, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/322728
- AdvisorCensus page: https://advisorcensus.com/firm/sherman-portfolios-coeur-d-alene-id-322728

## Quick answers

**How is Sherman Portfolios compensated?**
On its Form ADV (Item 5.E, October 2026), Sherman Portfolios reports these compensation arrangements: a percentage of assets under its management; other.

**Where is Sherman Portfolios located?**
Sherman Portfolios' principal office is in Coeur D'Alene, ID, according to its Form ADV.

**Is Sherman Portfolios registered with the SEC or a state?**
Sherman Portfolios is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 322728.

**How much does Sherman Portfolios manage?**
Sherman Portfolios reports $1,558,055,845 in regulatory assets under management in its Form ADV filing dated September 22, 2026 (100% discretionary).

**How have Sherman Portfolios' assets and staff changed since 2022?**
In the Form ADV data for Sherman Portfolios: Regulatory assets under management: $0 in the October 2022 data and $1,558,055,845 in the October 2026 data. Total employees: 1 in October 2022 and 15 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sherman Portfolios serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (6,440); high net worth individuals (212).

**Does Sherman Portfolios report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/322728

**What changed in Sherman Portfolios' recent Form ADV filings?**
In the May 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Other

### Regulatory assets under management (Item 5.F)
- Total: $1,558,055,845
- Discretionary: $1,558,055,845
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 6,440 | $1,139,409,433 |
| High net worth individuals | 212 | $418,646,412 |

### Advisory services (Item 5.G)
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Market timing services

### Firm details
- Registered since: 2022 (4 years)
- Employees: 15 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AZ, CA, CO, FL, GA, HI, IA, ID, IL, IN, KS, MA, MI, MO, NC, NE, NV, OH, OK, OR, PA, TN, TX, UT, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- shermanportfolios.com
- Facebook facebook.com
- Instagram instagram.com
- LinkedIn linkedin.com
- TikTok tiktok.com
- X x.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $0 | 1 | September 19, 2022 |
| October 2023 | $28,700,000 | 8 | June 21, 2023 |
| October 2024 | $202,505,546 | 8 | September 23, 2024 |
| October 2025 | $581,584,938 | 14 | July 31, 2025 |
| October 2026 | $1,558,055,845 | 15 | September 22, 2026 |

Regulatory assets under management: $0 in the October 2022 data and $1,558,055,845 in the October 2026 data.
Total employees: 1 in October 2022 and 15 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Changed its legal name from True Freedom, LLC to True Freedom Investing, LLC.
- Regulatory assets under management went from $581,584,938 to $1,558,055,845 (+168%).

### February 2026
- Changed its legal name from Sherman Portfolios, LLC to True Freedom, LLC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sherman Portfolios (CRD 322728): Form ADV filing data as of October 2026.