Armbruster Capital Management, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 20, 2025), Armbruster Capital Management, Inc. reported 131 stock positions worth $587.6 million. Its top holding was Vanguard U.S. Value Factor (VFVA) at 9.3% of the portfolio, followed by iShares MSCI USA Momentum Fa (MTUM, 9.2%) and Invesco S&P 500 Low Volatili (SPLV, 6.0%). Compared with Q2 2025, it opened 5 new positions, sold out of 2, added to 39 and reduced 52. The biggest buy was Vanguard U.S. Value Factor (VFVA, shares +1%) and the biggest sale SS SPDR Dow Jones Indus Avg (DIA, shares −59%).

Most Recent 13F
Q2 2026
Location
PITTSFORD, NY
CIK
0001664847
Portfolio Value
$587.6M (Q3 2025)
SEC Filing
0001140361-25-038592 ↗ filed Oct 20, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $470.0M Q1 2024 Q2 2024: $481.6M Q2 2024 Q3 2024: $502.0M Q3 2024 Q4 2024: $492.2M Q4 2024 Q1 2025: $501.4M Q1 2025 Q2 2025: $552.1M Q2 2025 Q3 2025: $587.6M $587.6M Q3 2025 Q4 2025: $595.5M Q4 2025 Q1 2026: $610.2M Q1 2026 Q2 2026: $670.8M Q2 2026

Holdings 131 stocks · $587.6M
VFVA Vanguard U.S. Value Factor 9.29% 427,773 $54.6M Add +1.0%
MTUM iShares MSCI USA Momentum Fa 9.21% 211,106 $54.1M Add +1.4%
SPLV Invesco S&P 500 Low Volatili 6.03% 482,394 $35.4M Add +5.1%
RPV Invesco S&P 500 Pure Value E 5.96% 352,622 $35.0M Reduce -0.6%
QUAL iShares MSCI USA Quality Fac 5.40% 163,028 $31.7M Add +1.8%
VFQY Vanguard U.S. Quality Factor 4.81% 187,483 $28.3M Add +1.6%
IVLU iShares MSCI International V 4.24% 701,351 $24.9M Add +0.1%
IMTM iShares MSCI Intl Momentum F 3.70% 454,157 $21.7M Add +0.8%
IQLT iShares MSCI International Q 3.50% 465,494 $20.6M Add +2.2%
AVES Avantis Emerging Markets Val 3.38% 346,289 $19.9M Add +2.0%
EFAV iShares MSCI Eafe Min Vol Fa 3.13% 216,938 $18.4M Add +2.7%
USMV iShares MSCI USA Min Vol Fac 2.69% 166,362 $15.8M Reduce -0.4%
XSMO Invesco S&P Smallcap Momentu 2.46% 196,330 $14.4M Add +3.3%
IEFA iShares Core MSCI Eafe ETF 2.32% 156,459 $13.7M Add +4.0%
XSLV Invesco S&P Smallcap Low Vol 1.87% 237,575 $11.0M Add +6.4%
QVMT Invesco S&P 500 Concentrated 1.58% 169,003 $9.3M Reduce -0.7%
VFMO Vanguard US Momentum Factor 1.56% 47,750 $9.1M Reduce -1.4%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 1.38% 26,361 $8.1M Add +0.1%
RZV Invesco S&P Smallcap 600 Pur 1.38% 68,643 $8.1M Add +0.1%
EMGF iShares Emerging Markets Equ 1.28% 132,918 $7.5M Reduce -0.7%
SPY SS SPDR S&P 500 ETF Trust-US 1.19% 10,470 $7.0M Reduce -0.8%
IVV iShares Core S&P 500 ETF 1.09% 9,548 $6.4M Reduce -36.1%
IEMG iShares Core MSCI Emerging 1.06% 94,275 $6.2M Add +1.7%
SCHF Schwab Intl Equity ETF 1.03% 260,448 $6.1M Reduce -0.1%
VOO Vanguard S&P 500 ETF 0.95% 9,145 $5.6M Add +24.0%
IJH iShares Core S&P Midcap ETF 0.95% 85,154 $5.6M Add +0.3%
DFIV Dimensional International Va 0.78% 99,820 $4.6M Reduce -0.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.70% 14,008 $4.1M No change
AVDE Avantis International Equity 0.66% 49,427 $3.9M Add +15.3%
AVEM Avantis Emerging Markets Eq 0.66% 51,569 $3.9M Add +4.0%
VEA Vanguard Ftse Developed ETF 0.64% 62,626 $3.8M Add +0.3%
SCHX Schwab US Large-Cap ETF 0.60% 134,895 $3.6M Reduce -0.0%
IDLV Invesco S&P International DE 0.60% 106,000 $3.6M Reduce -3.1%
AVLV Avantis US Large Cap Value 0.55% 44,916 $3.2M Add +22.5%
IJR iShares Core S&P Small-Cap E 0.47% 23,000 $2.7M Reduce -0.4%
ESGV Vanguard ESG US Stock ETF 0.43% 21,310 $2.5M Reduce -0.8%
PAYX Paychex Inc. 0.42% 19,574 $2.5M Add +3.3%
BRK.B Berkshire Hathaway Inc. Class B 0.41% 4,759 $2.4M Add +9.9%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.40% 5,068 $2.4M Reduce -59.3%
JPM JPMorgan Chase & Co. 0.38% 7,064 $2.2M Reduce -3.7%
AAPL Apple Inc. 0.37% 8,446 $2.2M Reduce -5.7%
EFIV SS SPDR S&P 500 ESG ETF 0.34% 31,804 $2.0M Reduce -0.9%
SMMV iShares MSCI USA Small-Cap M 0.34% 46,700 $2.0M Reduce -1.4%
AVUV Avantis US Small Cap Value 0.34% 20,128 $2.0M Add +14.2%
VWO Vanguard Ftse Emerging Marke 0.33% 35,865 $1.9M Add +0.3%
MSFT Microsoft Corp. 0.29% 3,295 $1.7M Reduce -16.0%
AVLC Avantis US LG Cap Eq ETF 0.27% 21,000 $1.6M No change
QQQ Invesco QQQ Trust Series 1 0.26% 2,549 $1.5M Reduce -2.2%
SPSM SS SPDR P S&P 600 Small Cap 0.26% 33,010 $1.5M Add +20.2%
BNL Broadstone Net Lease Inc. 0.21% 70,554 $1.3M Reduce -17.5%
ORCL Oracle Corp. 0.21% 4,410 $1.2M Reduce -0.6%
XOM Exxon Mobil Corp. 0.21% 10,972 $1.2M Add +1.1%
SPTM SS SPDR P S&P 1500 Comp ETF 0.21% 15,027 $1.2M Add +1.6%
SPMD SS SPDR P S&P 400 Midcap ETF 0.20% 21,015 $1.2M Add +27.7%
SCHE Schwab Emrg Mrkts Eqty ETF 0.20% 35,285 $1.2M No change
INTF iShares International Equity 0.20% 32,775 $1.2M No change
ESGD iShares Trust iShares ESG Aw 0.19% 12,158 $1.1M Add +2.1%
VB Vanguard Most SM-Cap ETF-Usd 0.18% 4,224 $1.1M Reduce -0.3%
AVGO Broadcom Inc. 0.18% 3,206 $1.1M Reduce -4.2%
IHS Ihs Holding Ltd. 0.17% 150,347 $1.0M Reduce -9.1%
VTI VG Morningstar TS MKT ETF-US 0.17% 3,104 $1.0M Add +1.2%
IBIT iShares Bitcoin Trust ETF 0.17% 15,238 $990K Add +105.9%
VTV Vanguard Mrngstr Val ETF-Aui 0.17% 5,305 $989K Add +1.3%
VNQ Vanguard Real Estate ETF 0.16% 10,306 $942K Reduce -1.6%
XMMO Invesco S&P Midcap Momentum 0.16% 6,959 $941K No change
PM Philip Morris International 0.15% 5,599 $908K Reduce -7.1%
PH Parker Hannifin Corp. 0.15% 1,159 $879K No change
IAU iShares Gold Trust 0.15% 12,000 $873K No change
EEMV iShares MSCI Emg MKT Min Vol 0.14% 12,920 $825K Reduce -2.0%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.14% 3,911 $816K No change
PWB Invesco Large Cap Growth ETF 0.14% 6,370 $799K No change
INTC Intel Corp. 0.13% 22,525 $756K Reduce -3.3%
IWV iShares Russell 3000 ETF 0.12% 1,810 $686K Add +0.5%
GOOGL Alphabet Inc. Class A 0.12% 2,814 $684K Reduce -1.5%
EFA iShares MSCI Eafe ETF 0.11% 7,182 $671K No change
PWV Invesco Large Cap Value ETF 0.11% 10,117 $660K No change
AMGN Amgen Inc. 0.11% 2,261 $638K Reduce -3.4%
GE General Electric filed as GE AEROSPACE 0.11% 2,078 $625K Reduce -5.7%
ACWV iShares MSCI Global Min Vol 0.11% 5,160 $619K No change
SCHA Schwab US Small-Cap ETF 0.10% 21,930 $612K No change
HD Home Depot Inc. 0.10% 1,498 $607K Reduce -11.9%
UNP Union Pacific Corp. 0.09% 2,341 $553K No change
XMVM Invesco S&P Midcap Value Wit 0.09% 8,749 $539K No change
SCHB Schwab US Broad Market ETF 0.09% 20,781 $534K Add +0.4%
VEU Vanguard Ftse All-World Ex-U 0.09% 7,426 $530K Reduce -2.9%
XSVM Invesco S&P Smallcap Value W 0.09% 9,094 $513K No change
XAR SS SPDR S&P Aerospace Def 0.09% 2,160 $508K No change
ABBV Abbvie Inc. 0.08% 2,152 $498K No change
BSV Vanguard Short-Term Bond ETF 0.08% 6,287 $496K No change
IUSG iShares Core S&P U.S. Growth 0.08% 2,900 $477K Reduce -1.0%
NVDA Nvidia Corp. 0.08% 2,438 $455K Add +4.0%
WMT Walmart Inc. 0.08% 4,395 $453K Reduce -0.7%
TMO Thermo Fisher Scientific Inc. 0.08% 926 $449K Reduce -0.2%
META Meta Platforms Inc. Class A 0.08% 603 $443K Reduce -1.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 1,518 $428K Reduce -2.1%
VSS Vanguard Ftse All Wo X-US SC 0.07% 2,949 $420K No change
PG The Procter & Gamble Co. 0.07% 2,733 $420K Reduce -12.3%
SHW The Sherwin-Williams Co. 0.07% 1,194 $413K No change
NFG National Fuel Gas Co. 0.07% 4,432 $409K Reduce -6.3%
UNH Unitedhealth Group Inc. 0.07% 1,175 $406K No change
KO The Coca-Cola Co. 0.07% 5,985 $397K Reduce -2.8%
NEE Nextera Energy Inc. 0.06% 4,947 $373K Reduce -7.5%
VDC Vanguard Consumer Staple ETF 0.06% 1,728 $369K No change
MRK Merck & Co. Inc. 0.06% 4,292 $360K Reduce -2.4%
XJH Ishare ESG SS S&P Midcap ETF 0.06% 8,175 $358K No change
CSCO Cisco Systems Inc. 0.06% 5,170 $354K Reduce -10.4%
SCHM Schwab US Mid Cap ETF 0.06% 11,845 $351K Reduce -0.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.06% 2,242 $324K Reduce -0.5%
GEV GE Vernova Inc. 0.05% 518 $319K Reduce -5.7%
AMZN Amazon.com Inc. 0.05% 1,427 $313K Reduce -2.1%
XJR Ishr ESG SS S&P Smal-Cap-Usd 0.05% 7,361 $313K Add +10.0%
VYM Vanguard High DVD Yield ETF 0.05% 2,165 $305K No change
NOW ServiceNow Inc. 0.05% 326 $300K No change
COST Costco Wholesale Corp. 0.05% 324 $300K No change
AVSC Avantis US Small Cap Equity 0.05% 5,125 $293K No change
SPHQ Invesco S&P 500 Quality ETF 0.05% 4,000 $293K No change
SLYV SS SPDR S&P 600 SC Val ETF 0.05% 3,256 $289K No change
TSLA Tesla Inc. 0.05% 649 $289K New
GOOG Alphabet Inc. Class C 0.05% 1,120 $273K Reduce -3.0%
CVX Chevron Corp. 0.05% 1,713 $266K Reduce -10.4%
VXUS Vanguard Total Intl Stock 0.04% 3,560 $262K No change
SPDW Ste STR SPDR PT DW Eu ETF 0.04% 5,835 $250K Add +4.3%
ALL Allstate Corp. 0.04% 1,161 $249K Reduce -0.8%
GS Goldman Sachs Group Inc. 0.04% 304 $242K No change
MMM 3M Co. 0.04% 1,500 $233K No change
MDLZ Mondelez International Inc. Class A 0.04% 3,690 $231K No change
SYK Stryker Corp. 0.04% 600 $222K No change
JNJ Johnson & Johnson 0.04% 1,162 $215K New
RTX RTX Corp. 0.04% 1,248 $209K New
ESGE iShares Inc. iShares ESG Awar 0.04% 4,800 $208K New
SPHD Invesco S&P 500 High Dividen 0.03% 4,152 $205K New

Portfolio Sells Q2 2025 → Q3 2025
DIA SS SPDR Dow Jones Indus Avg Reduce -59.3% 0.40% −0.59
IVV iShares Core S&P 500 ETF Reduce -36.1% 1.09% −0.59
USMV iShares MSCI USA Min Vol Fac Reduce -0.4% 2.69% −0.15
MSFT Microsoft Corp. Reduce -16.0% 0.29% −0.06
RPV Invesco S&P 500 Pure Value E Reduce -0.6% 5.96% −0.06
IDLV Invesco S&P International DE Reduce -3.1% 0.60% −0.05
ADP Automatic Data Processing Sold out 0.00% −0.04
PM Philip Morris International Reduce -7.1% 0.15% −0.04
DOCT FT Vest U.S. Equity Deep Buf Sold out 0.00% −0.04
BNL Broadstone Net Lease Inc. Reduce -17.5% 0.21% −0.03
QVMT Invesco S&P 500 Concentrated Reduce -0.7% 1.58% −0.03
PG The Procter & Gamble Co. Reduce -12.3% 0.07% −0.02
SMMV iShares MSCI USA Small-Cap M Reduce -1.4% 0.34% −0.02
CSCO Cisco Systems Inc. Reduce -10.4% 0.06% −0.01
SCHF Schwab Intl Equity ETF Reduce -0.1% 1.03% −0.01
KO The Coca-Cola Co. Reduce -2.8% 0.07% −0.01
IBM Intl Business Machines Corp. Reduce -2.1% 0.07% −0.01
AMGN Amgen Inc. Reduce -3.4% 0.11% −0.01
HD Home Depot Inc. Reduce -11.9% 0.10% −0.01
EEMV iShares MSCI Emg MKT Min Vol Reduce -2.0% 0.14% −0.01
VNQ Vanguard Real Estate ETF Reduce -1.6% 0.16% −0.01
META Meta Platforms Inc. Class A Reduce -1.9% 0.08% −0.01
JPM JPMorgan Chase & Co. Reduce -3.7% 0.38% −0.01
AMZN Amazon.com Inc. Reduce -2.1% 0.05% −0.00
CVX Chevron Corp. Reduce -10.4% 0.05% −0.00
NEE Nextera Energy Inc. Reduce -7.5% 0.06% −0.00
NFG National Fuel Gas Co. Reduce -6.3% 0.07% −0.00
VEU Vanguard Ftse All-World Ex-U Reduce -2.9% 0.09% −0.00
MRK Merck & Co. Inc. Reduce -2.4% 0.06% −0.00
WMT Walmart Inc. Reduce -0.7% 0.08% −0.00
SCHM Schwab US Mid Cap ETF Reduce -0.6% 0.06% −0.00
ALL Allstate Corp. Reduce -0.8% 0.04% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -2.2% 0.26% +0.00
VB Vanguard Most SM-Cap ETF-Usd Reduce -0.3% 0.18% +0.00
IUSG iShares Core S&P U.S. Growth Reduce -1.0% 0.08% +0.00
GEV GE Vernova Inc. Reduce -5.7% 0.05% +0.00
DFIV Dimensional International Va Reduce -0.8% 0.78% +0.00
ESGV Vanguard ESG US Stock ETF Reduce -0.8% 0.43% +0.00
GE General Electric Reduce -5.7% 0.11% +0.00
EFIV SS SPDR S&P 500 ESG ETF Reduce -0.9% 0.34% +0.00
TJX TJX Companies Inc. Reduce -0.5% 0.06% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.8% 1.19% +0.01
SCHX Schwab US Large-Cap ETF Reduce -0.0% 0.60% +0.01
IJR iShares Core S&P Small-Cap E Reduce -0.4% 0.47% +0.01
IHS Ihs Holding Ltd. Reduce -9.1% 0.17% +0.01
TMO Thermo Fisher Scientific Inc. Reduce -0.2% 0.08% +0.01
GOOG Alphabet Inc. Class C Reduce -3.0% 0.05% +0.01
AVGO Broadcom Inc. Reduce -4.2% 0.18% +0.01
EMGF iShares Emerging Markets Equ Reduce -0.7% 1.28% +0.02
GOOGL Alphabet Inc. Class A Reduce -1.5% 0.12% +0.03

Portfolio Buys Q2 2025 → Q3 2025
VFVA Vanguard U.S. Value Factor Add +1.0% 9.29% +0.21
VOO Vanguard S&P 500 ETF Add +24.0% 0.95% +0.19
MTUM iShares MSCI USA Momentum Fa Add +1.4% 9.21% +0.15
XSMO Invesco S&P Smallcap Momentu Add +3.3% 2.46% +0.12
AVLV Avantis US Large Cap Value Add +22.5% 0.55% +0.10
QUAL iShares MSCI USA Quality Fac Add +1.8% 5.40% +0.09
AVDE Avantis International Equity Add +15.3% 0.66% +0.09
AVES Avantis Emerging Markets Val Add +2.0% 3.38% +0.09
IBIT iShares Bitcoin Trust ETF Add +105.9% 0.17% +0.09
RZV Invesco S&P Smallcap 600 Pur Add +0.1% 1.38% +0.08
IVLU iShares MSCI International V Add +0.1% 4.24% +0.06
IEFA iShares Core MSCI Eafe ETF Add +4.0% 2.32% +0.05
AVUV Avantis US Small Cap Value Add +14.2% 0.34% +0.05
IEMG iShares Core MSCI Emerging Add +1.7% 1.06% +0.05
TSLA Tesla Inc. New 0.05% +0.05
SPSM SS SPDR P S&P 600 Small Cap Add +20.2% 0.26% +0.05
AVEM Avantis Emerging Markets Eq Add +4.0% 0.66% +0.04
SPMD SS SPDR P S&P 400 Midcap ETF Add +27.7% 0.20% +0.04
JNJ Johnson & Johnson New 0.04% +0.04
ESGE iShares Inc. iShares ESG Awar New 0.04% +0.04
RTX RTX Corp. New 0.04% +0.04
SPHD Invesco S&P 500 High Dividen New 0.03% +0.03
XSLV Invesco S&P Smallcap Low Vol Add +6.4% 1.87% +0.03
BRK.B Berkshire Hathaway Inc. Class B Add +9.9% 0.41% +0.03
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +0.1% 1.38% +0.02
VFQY Vanguard U.S. Quality Factor Add +1.6% 4.81% +0.01
VWO Vanguard Ftse Emerging Marke Add +0.3% 0.33% +0.01
NVDA Nvidia Corp. Add +4.0% 0.08% +0.01
SPTM SS SPDR P S&P 1500 Comp ETF Add +1.6% 0.21% +0.01
XJR Ishr ESG SS S&P Smal-Cap-Usd Add +10.0% 0.05% +0.01
VTI VG Morningstar TS MKT ETF-US Add +1.2% 0.17% +0.00
IWV iShares Russell 3000 ETF Add +0.5% 0.12% +0.00
SCHB Schwab US Broad Market ETF Add +0.4% 0.09% +0.00
SPDW Ste STR SPDR PT DW Eu ETF Add +4.3% 0.04% +0.00
VTV Vanguard Mrngstr Val ETF-Aui Add +1.3% 0.17% +0.00
ESGD iShares Trust iShares ESG Aw Add +2.1% 0.19% 0.00
XOM Exxon Mobil Corp. Add +1.1% 0.21% −0.00
VEA Vanguard Ftse Developed ETF Add +0.3% 0.64% −0.01
IJH iShares Core S&P Midcap ETF Add +0.3% 0.95% −0.01
SPLV Invesco S&P 500 Low Volatili Add +5.1% 6.03% −0.02
IMTM iShares MSCI Intl Momentum F Add +0.8% 3.70% −0.03
IQLT iShares MSCI International Q Add +2.2% 3.50% −0.06
PAYX Paychex Inc. Add +3.3% 0.42% −0.08
EFAV iShares MSCI Eafe Min Vol Fa Add +2.7% 3.13% −0.09

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 125$670.8MMTUM, VFVA, RPV, SPLV, QUAL
Q1 2026 132$610.2MVFVA, MTUM, RPV, SPLV, QUAL
Q4 2025 132$595.5MVFVA, MTUM, RPV, SPLV, QUAL
Q3 2025 131$587.6MVFVA, MTUM, SPLV, RPV, QUAL
Q2 2025 128$552.1MVFVA, MTUM, SPLV, RPV, QUAL
Q1 2025 128$501.4MVFVA, MTUM, SPLV, RPV, QUAL
Q4 2024 132$492.2MVFVA, MTUM, RPV, SPLV, QUAL
Q3 2024 130$502.0MVFVA, MTUM, RPV, SPLV, QUAL
Q2 2024 118$481.6MVFVA, MTUM, RPV, SPLV, QUAL
Q1 2024 107$470.0MVFVA, MTUM, RPV, SPLV, QUAL