Aspiriant, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 16, 2025), Aspiriant, LLC reported 286 stock positions worth $2.8 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.4% of the portfolio, followed by iShares Core S&P U.S. Value (IUSV, 10.9%) and iShares MSCI Global Min Vol (ACWV, 9.6%). Compared with Q3 2024, it opened 19 new positions, sold out of 23, added to 124 and reduced 101. The biggest buy was Vngrd Mrngst SL-CP Val ETF-U (VBR, shares +42%) and the biggest sale Vanguard Tax-Exempt Bond ETF (VTEB, shares −0%).

Most Recent 13F
Q2 2026
Location
San Francisco, CA
CIK
0001433541
Portfolio Value
$2.8B (Q4 2024)
SEC Filing
0001172661-25-000232 ↗ filed Jan 16, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $2.4B Q1 2024 Q2 2024: $2.5B Q2 2024 Q3 2024: $2.6B Q3 2024 Q4 2024: $2.8B $2.8B Q4 2024 Q1 2025: $2.9B Q1 2025 Q2 2025: $3.1B Q2 2025 Q3 2025: $3.3B Q3 2025 Q4 2025: $3.5B Q4 2025 Q1 2026: $3.5B Q1 2026 Q2 2026: $4.1B Q2 2026

Holdings 286 stocks · $2.8B
IVV iShares Core S&P 500 ETF 11.39% 535,736 $315.4M Add +21.7%
IUSV iShares Core S&P U.S. Value 10.92% 3,266,064 $302.4M Add +13.8%
ACWV iShares MSCI Global Min Vol 9.57% 2,426,540 $265.0M Add +0.5%
VTEB Vanguard Tax-Exempt Bond ETF 9.36% 5,170,364 $259.2M Reduce -0.5%
VBR Vngrd Mrngst SL-CP Val ETF-U 8.76% 1,224,131 $242.6M Add +42.1%
VIG Vanguard Dividend Apprec ETF 6.73% 951,430 $186.3M Reduce -1.8%
VOO Vanguard S&P 500 ETF 2.95% 151,599 $81.7M Reduce -1.1%
AAPL Apple Inc. 2.71% 300,142 $75.2M Reduce -1.4%
EFV iShares MSCI Eafe Value ETF 2.25% 1,185,995 $62.2M Add +0.8%
IEMG iShares Core MSCI Emerging 1.89% 1,000,894 $52.3M Add +1.8%
IEFA iShares Core MSCI Eafe ETF 1.51% 596,334 $41.9M Add +7.7%
SPY SS SPDR S&P 500 ETF Trust-US 1.29% 60,869 $35.7M Add +0.7%
BND Vanguard Total Bond Market 1.28% 492,861 $35.4M Reduce -1.7%
BRK.B Berkshire Hathaway Inc. Class B 1.07% 65,476 $29.7M Add +0.9%
DFUV Dimensional US Marketwide Va 1.03% 695,892 $28.5M Reduce -0.3%
VTI VG Morningstar TS MKT ETF-US 0.95% 91,088 $26.4M Reduce -0.5%
AOR iShares Core 60/40 Balanced 0.88% 426,881 $24.5M Reduce -4.0%
IWB iShares Russell 1000 ETF 0.80% 68,926 $22.2M Add +1.6%
CRBN Ish Low Car Opt Ms Ac ETF-US 0.74% 105,698 $20.5M Add +5.9%
MSFT Microsoft Corp. 0.71% 46,814 $19.7M Add +2.4%
FNDE Schwab Fndmntl Em MRK Eq ETF 0.70% 665,865 $19.3M Reduce -6.1%
FBND Fidelity Total Bond ETF 0.68% 416,563 $18.7M Add +6.5%
VEU Vanguard Ftse All-World Ex-U 0.67% 321,872 $18.5M Reduce -0.8%
DEM Wisdomtree Emerging Markets 0.66% 451,802 $18.3M Reduce -3.1%
DFAX Dimensional World Ex US Core 0.66% 735,212 $18.3M No change
MUB iShares National Muni Bond E 0.64% 166,621 $17.8M Reduce -11.3%
GOOGL Alphabet Inc. Class A 0.55% 80,473 $15.2M Add +1.4%
VTV Vanguard Mrngstr Val ETF-Aui 0.54% 88,963 $15.1M Reduce -0.3%
IWN iShares Russell 2000 Value E 0.51% 85,846 $14.1M Add +1.9%
VB Vanguard Most SM-Cap ETF-Usd 0.50% 57,498 $13.8M Add +20.4%
XLF SS Financial Select Sector 0.49% 279,046 $13.5M No change
VGT Vanguard Info Tech ETF 0.48% 21,427 $13.3M Reduce -0.2%
VSS Vanguard Ftse All Wo X-US SC 0.45% 108,330 $12.4M Reduce -1.0%
AGG iShares Core U.S. Aggregate 0.44% 126,032 $12.2M Add +13.7%
IWM iShares Russell 2000 ETF 0.37% 46,842 $10.4M Add +0.1%
DFAC Dimensional US Core Equity 2 0.35% 282,036 $9.8M Add +0.0%
DFAT Dimensional US Target Value 0.35% 173,061 $9.6M Add +0.8%
PWRD TCW Transform Systems ETF 0.34% 131,487 $9.5M Add +380.8%
IWV iShares Russell 3000 ETF 0.34% 28,229 $9.4M Add +8.3%
USMV iShares MSCI USA Min Vol Fac 0.34% 104,673 $9.3M Add +0.3%
EFAV iShares MSCI Eafe Min Vol Fa 0.33% 127,921 $9.0M Reduce -2.6%
GOOG Alphabet Inc. Class C 0.30% 44,219 $8.4M Add +1.5%
DFIV Dimensional International Va 0.27% 212,506 $7.5M Add +0.6%
DFAS Dimensional US Small Cap ETF 0.27% 113,748 $7.4M Reduce -0.4%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.27% 221,211 $7.3M Add +11.1%
VEA Vanguard Ftse Developed ETF 0.26% 148,964 $7.1M Add +2.6%
AMZN Amazon.com Inc. 0.25% 31,572 $6.9M Add +5.7%
BRK.A Berkshire Hathaway Inc. Class A 0.25% 10 $6.8M No change
META Meta Platforms Inc. Class A 0.24% 11,337 $6.6M Reduce -5.9%
JPM JPMorgan Chase & Co. 0.24% 27,255 $6.5M Add +8.1%
IWD iShares Russell 1000 Value E 0.23% 33,800 $6.3M Reduce -2.7%
SCHX Schwab US Large-Cap ETF 0.21% 254,914 $5.9M Reduce -0.8%
VOTE TCW Transform 500 ETF 0.21% 84,135 $5.8M Add +39.1%
QAI Nylim HDG MLT-STR TRC ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET 0.21% 183,058 $5.7M Reduce -5.9%
PG The Procter & Gamble Co. 0.20% 33,076 $5.5M Add +8.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.19% 13,104 $5.4M Reduce -8.6%
BILL Bill Holdings Inc. 0.18% 59,594 $5.0M Reduce -4.0%
VWO Vanguard Ftse Emerging Marke 0.18% 110,423 $4.9M Add +7.5%
CINF Cincinnati Financial Corp. 0.17% 33,214 $4.8M No change
IYY iShares Dow Jones U.S. ETF 0.15% 29,744 $4.3M No change
EFA iShares MSCI Eafe ETF 0.15% 54,843 $4.1M Add +15.4%
IJH iShares Core S&P Midcap ETF 0.15% 64,652 $4.0M Reduce -1.6%
IWF iShares Russell 1000 Growth 0.14% 9,883 $4.0M Add +1.4%
IUSG iShares Core S&P U.S. Growth 0.14% 27,787 $3.9M No change
RSP Invesco S&P 500 Equal Weight 0.13% 21,296 $3.7M Reduce -4.7%
RY Royal Bank of Canada 0.13% 30,756 $3.7M Add +0.2%
MNA Nylim Merger Arbtrage ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET 0.13% 106,537 $3.5M Reduce -9.5%
SDG Ish MSCI Glob Sust Deve Goal 0.13% 48,797 $3.5M Add +89.5%
IWR iShares Russell Mid-Cap ETF 0.13% 39,454 $3.5M Add +8.4%
SCZ iShares MSCI Eafe Small-Cap 0.13% 57,260 $3.5M Add +0.1%
VNQ Vanguard Real Estate ETF 0.12% 38,281 $3.4M Reduce -4.0%
ORCL Oracle Corp. 0.12% 19,761 $3.3M Reduce -1.1%
VONV Vanguard Russell 1000 Value 0.12% 40,191 $3.3M Reduce -2.3%
JNJ Johnson & Johnson 0.12% 22,360 $3.2M Reduce -3.7%
DLN Wisdomtree US Largecap Divid 0.12% 41,366 $3.2M Reduce -2.3%
NVDA Nvidia Corp. 0.11% 23,476 $3.2M Add +6.9%
IJR iShares Core S&P Small-Cap E 0.11% 26,687 $3.1M Add +7.0%
VIOV Vanguard S&P Small-Cap 600 V 0.11% 32,828 $3.1M Reduce -1.2%
ITOT iShares Core S&P Total U.S. 0.11% 23,325 $3.0M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.11% 24,830 $3.0M Reduce -2.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.11% 10,823 $2.9M Add +0.1%
PEP Pepsico Inc. 0.10% 18,053 $2.7M Reduce -1.8%
AVGO Broadcom Inc. 0.10% 11,477 $2.7M Add +6.2%
XOM Exxon Mobil Corp. 0.09% 24,114 $2.6M Reduce -0.0%
QQQ Invesco QQQ Trust Series 1 0.09% 5,034 $2.6M Reduce -4.0%
TDG Transdigm Group Inc. 0.09% 2,013 $2.6M Add +0.6%
HD Home Depot Inc. 0.09% 6,109 $2.4M Add +1.5%
QCOM Qualcomm Inc. 0.08% 15,174 $2.3M Reduce -2.6%
CVX Chevron Corp. 0.08% 15,713 $2.3M Reduce -4.7%
UNH Unitedhealth Group Inc. 0.08% 4,498 $2.3M Add +0.4%
ABT Abbott Laboratories 0.08% 19,934 $2.3M Reduce -1.9%
CRM Salesforce Inc. 0.08% 6,585 $2.2M Add +4.1%
TSLA Tesla Inc. 0.08% 5,438 $2.2M Reduce -19.5%
SHV iShares 0-1 Year Treasury Bo 0.08% 19,288 $2.1M No change
ACWI iShares MSCI Acwi ETF 0.08% 17,865 $2.1M Reduce -21.4%
SDY SS SPDR S&P Dividend ETF 0.07% 15,564 $2.1M No change
SCHW Schwab (charles) Corp. 0.07% 25,740 $1.9M Add +1.7%
EEM iShares MSCI Emerging Market 0.07% 45,230 $1.9M Reduce -2.5%
UNP Union Pacific Corp. 0.07% 8,093 $1.8M Add +2.3%
COST Costco Wholesale Corp. 0.07% 2,014 $1.8M Add +1.6%
MDY State Street SPDR S&P Midcap 0.07% 3,221 $1.8M No change
VNQI Vanguard GLBL Ex-US Real Est 0.06% 45,346 $1.8M Reduce -1.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.06% 15,905 $1.8M Add +0.6%
VUSB Vanguard Ultra Short Bond Et 0.06% 35,190 $1.7M Add +0.7%
SCHB Schwab US Broad Market ETF 0.06% 74,244 $1.7M Reduce -5.0%
LOW Lowe's Cos Inc. 0.06% 6,579 $1.6M Reduce -1.0%
MA Mastercard Inc. Class A 0.06% 3,045 $1.6M Add +5.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 36,278 $1.6M Add +4.6%
PAYX Paychex Inc. 0.06% 11,294 $1.6M Reduce -3.3%
IWP iShares Russell Mid-Cap Grow 0.06% 12,313 $1.6M No change
ABBV Abbvie Inc. 0.06% 8,777 $1.6M Add +4.9%
WFC Wells Fargo & Co. 0.06% 22,051 $1.5M Reduce -9.7%
AXP American Express Co. 0.06% 5,172 $1.5M Add +3.4%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.06% 5,448 $1.5M Add +0.5%
VYM Vanguard High DVD Yield ETF 0.05% 11,910 $1.5M Add +15.4%
MRK Merck & Co. Inc. 0.05% 15,272 $1.5M Reduce -0.7%
DSI iShares ESG MSCI KLD 400 ETF 0.05% 13,494 $1.5M Add +116.3%
V Visa Inc. Class A 0.05% 4,698 $1.5M Reduce -12.9%
WMT Walmart Inc. 0.05% 16,409 $1.5M Add +13.6%
NFLX Netflix Inc. 0.05% 1,573 $1.4M Add +12.4%
SCHM Schwab US Mid Cap ETF 0.05% 49,695 $1.4M Add +5.2%
SCHV Schwab US Large-Cap Value 0.05% 52,559 $1.4M Add +16.5%
SCHD Schwab US DVD Equity ETF 0.05% 49,991 $1.4M Add +9.4%
EEMV iShares MSCI Emg MKT Min Vol 0.05% 22,684 $1.3M Reduce -7.5%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.05% 29,048 $1.3M Add +62.9%
AOM iShares Core 40/60 Moderate 0.05% 29,629 $1.3M Reduce -4.8%
CSCO Cisco Systems Inc. 0.05% 21,547 $1.3M Add +2.7%
RTX RTX Corp. 0.05% 10,863 $1.3M Add +5.8%
EAGG iShares ESG Aware US Aggrega 0.04% 26,339 $1.2M No change
SLGN Silgan Holdings Inc. 0.04% 23,128 $1.2M No change
AMGN Amgen Inc. 0.04% 4,432 $1.2M Reduce -0.1%
MMM 3M Co. 0.04% 8,787 $1.1M Reduce -0.5%
DHR Danaher Corp. 0.04% 4,896 $1.1M Reduce -11.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.04% 4,130 $1.1M Reduce -12.0%
ADBE Adobe Inc. 0.04% 2,450 $1.1M Add +5.8%
GD General Dynamics Corp. 0.04% 4,132 $1.1M Reduce -1.3%
XLK SS Technology Select Sector 0.04% 4,620 $1.1M Add +31.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 4,814 $1.1M Add +3.6%
ACN Accenture PLC Class A 0.04% 2,994 $1.1M Add +5.0%
KO The Coca-Cola Co. 0.04% 16,390 $1.0M Reduce -3.6%
MPC Marathon Petroleum Corp. 0.04% 7,250 $1.0M Add +8.0%
DIHP Dimensional International Hi 0.04% 39,901 $1.0M No change
IWO iShares Russell 2000 Growth 0.04% 3,486 $1.0M Add +0.4%
SPG Simon Property Group Inc. 0.04% 5,777 $995K Reduce -1.3%
GLD SPDR Gold Shares 0.04% 4,026 $975K Add +33.3%
USB US Bancorp 0.03% 19,974 $955K Reduce -3.8%
REET iShares Global REIT ETF 0.03% 38,504 $923K Reduce -25.1%
DOCU Docusign Inc. 0.03% 10,102 $909K Reduce -4.2%
CAT Caterpillar Inc. 0.03% 2,468 $895K Reduce -2.1%
GE General Electric filed as GE AEROSPACE 0.03% 5,277 $880K Reduce -4.0%
TMO Thermo Fisher Scientific Inc. 0.03% 1,668 $868K Add +2.6%
BSV Vanguard Short-Term Bond ETF 0.03% 11,200 $865K Reduce -33.2%
VGSH Vanguard Short-Term Treasury 0.03% 14,736 $857K Add +11.9%
QSR Restaurant Brands Intern 0.03% 13,081 $853K Reduce -0.0%
PFE Pfizer Inc. 0.03% 31,539 $837K Reduce -17.0%
SUSA iShares ESG Optimized MSCI U 0.03% 6,868 $835K New
DGRO iShares Core Dividend Growth 0.03% 13,463 $826K No change
AMAT Applied Materials Inc. 0.03% 5,048 $821K Add +0.1%
IVE iShares S&P 500 Value ETF 0.03% 4,224 $806K Add +2.0%
DVY iShares Select Dividend ETF 0.03% 6,104 $801K No change
NEE Nextera Energy Inc. 0.03% 11,114 $797K Add +16.1%
CMCSA Comcast Corp. Class A 0.03% 21,101 $792K Reduce -4.1%
CP Canadian Pacific Kansas City 0.03% 10,807 $782K Add +0.1%
MCD McDonald's Corp. 0.03% 2,562 $743K Reduce -2.7%
VCSH Vanguard S/T Corp. Bond ETF 0.03% 9,316 $727K Add +24.5%
FDX FedEx Corp. 0.03% 2,503 $704K Add +0.5%
VXF Vanguard Extended Market ETF 0.03% 3,680 $699K No change
ADP Automatic Data Processing 0.03% 2,372 $694K Add +1.5%
QEMM State Street SPDR MSCI Emerg 0.02% 12,092 $690K Reduce -2.8%
BBH Vaneck Biotech ETF 0.02% 4,333 $680K No change
BX Blackstone Inc. 0.02% 3,861 $666K Add +58.2%
IJT iShares S&P Small-Cap 600 GR 0.02% 4,901 $663K No change
SCHG Schwab US Large-Cap Growth 0.02% 23,403 $652K Add +54.0%
KMI Kinder Morgan Inc. 0.02% 23,342 $640K Reduce -5.4%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.02% 3,672 $594K Reduce -2.3%
DUHP Dimensional US High Profi Et 0.02% 17,299 $585K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.02% 4,664 $583K Reduce -0.0%
HBAN Huntington Bancshares Inc. 0.02% 35,682 $581K Add +0.0%
VT Vanguard Tot World STK ETF 0.02% 4,830 $567K No change
HON Honeywell International Inc. 0.02% 2,510 $567K Add +18.5%
GS Goldman Sachs Group Inc. 0.02% 981 $562K Add +5.8%
SCHZ Schwab US Aggregate Bond ETF 0.02% 24,544 $557K No change
COP Conocophillips 0.02% 5,569 $552K Add +119.3%
SLNO Soleno Therapeutics Inc. 0.02% 12,128 $545K No change
VAW Vanguard Materials ETF 0.02% 2,890 $543K Reduce -3.5%
AOA iShares Core 80/20 Aggressiv 0.02% 6,978 $535K Add +0.3%
COF Capital One Financial Corp. 0.02% 2,844 $507K Add +7.6%
ESAB Esab Corp. 0.02% 4,220 $506K No change
SHY iShares 1-3 Year Treasury Bo 0.02% 6,055 $496K Reduce -1.3%
LLY Eli Lilly & Co. 0.02% 639 $493K Reduce -17.9%
SPLV Invesco S&P 500 Low Volatili 0.02% 7,014 $491K Add +21.7%
SGOV iShares 0-3 Month Treasury B 0.02% 4,871 $489K Reduce -39.1%
JEF Jefferies Financial Group Inc. 0.02% 6,076 $476K Add +0.0%
L Loews Corp. 0.02% 5,503 $466K Reduce -0.1%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.02% 1,828 $464K No change
NVO Novo-Nordisk A/S-Spons ADR 0.02% 5,225 $449K Reduce -2.9%
SYK Stryker Corp. 0.02% 1,246 $449K Add +4.2%
NOBL Proshares S&P 500 Dividend A 0.02% 4,427 $441K No change
INTC Intel Corp. 0.02% 21,974 $441K Reduce -21.2%
NOW ServiceNow Inc. 0.02% 405 $429K Add +17.4%
DE Deere & Co. 0.02% 1,012 $429K Reduce -1.4%
BMY Bristol-Myers Squibb Co. 0.02% 7,572 $428K Reduce -6.4%
SBUX Starbucks Corp. 0.02% 4,645 $424K Reduce -2.1%
GEV GE Vernova Inc. 0.02% 1,281 $421K Reduce -6.0%
TMUS T-Mobile US Inc. 0.02% 1,900 $419K Add +20.4%
NET Cloudflare Inc. Class A 0.01% 3,835 $413K Reduce -44.5%
ONEV SS SPDR R1000 Lo Vol Foc ETF 0.01% 3,260 $409K New
BLK BlackRock Inc. 0.01% 395 $405K New
DUK Duke Energy Corp. 0.01% 3,743 $403K Reduce -9.8%
TFC Truist Financial Corp. 0.01% 9,143 $397K Add +0.1%
INTU Intuit Inc. 0.01% 619 $389K New
VGIT Vanguard Intermediate-Term T 0.01% 6,572 $381K New
CHTR Charter Communications Inc. Class A 0.01% 1,111 $381K Add +0.1%
PANW Palo Alto Networks Inc. 0.01% 2,060 $375K Add +16.3%
WM Waste Management Inc. 0.01% 1,855 $374K Add +5.2%
IDV iShares International Select 0.01% 13,655 $374K No change
MS Morgan Stanley 0.01% 2,961 $372K Add +6.2%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.01% 4,718 $371K Add +41.0%
DFNM Dimensional National Muni BD 0.01% 7,486 $358K No change
IAU iShares Gold Trust 0.01% 7,193 $356K No change
ECL Ecolab Inc. 0.01% 1,502 $352K Add +0.1%
FROG Jfrog Ltd. 0.01% 11,742 $345K Reduce -7.1%
SLYG SS SPDR S&P 600 SC GR ETF 0.01% 3,736 $338K New
LMT Lockheed Martin Corp. 0.01% 685 $333K Add +0.9%
ETN Eaton Corp. PLC 0.01% 995 $330K Reduce -2.6%
QUAL iShares MSCI USA Quality Fac 0.01% 1,848 $329K Add +12.4%
SPDN Dir DLY SP 500 BR 1X ETF-Usi 0.01% 29,790 $328K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.01% 758 $323K No change
IWS iShares Russell Mid-Cap Valu 0.01% 2,458 $318K Add +42.2%
AFRM Affirm Holdings Inc. 0.01% 5,106 $311K Add +1.2%
D Dominion Energy Inc. 0.01% 5,743 $309K Reduce -0.1%
VZ Verizon Communications Inc. 0.01% 7,715 $309K Reduce -11.1%
PH Parker Hannifin Corp. 0.01% 485 $308K Add +8.0%
NKE Nike Inc. Class B 0.01% 4,046 $306K Reduce -20.2%
RWR SS SPDR Dow Jones REIT ETF 0.01% 3,035 $300K No change
TXN Texas Instruments Inc. 0.01% 1,548 $290K Add +9.1%
BOX Box Inc. Class A 0.01% 9,048 $286K Add +5.0%
IGSB iShares 1-5Y Inv Grade Corp. 0.01% 5,432 $281K No change
NUEM Nuveen ESG Emerging Markets 0.01% 9,622 $279K Reduce -9.8%
REGN Regeneron Pharmaceuticals 0.01% 387 $276K Add +14.5%
RMD Resmed Inc. 0.01% 1,204 $275K Reduce -0.1%
VXUS Vanguard Total Intl Stock 0.01% 4,649 $274K No change
QLC NT US Qual LC ETF 0.01% 4,124 $274K No change
NVS Novartis AG-Sponsored ADR 0.01% 2,770 $270K Reduce -1.3%
LIN Linde PLC 0.01% 641 $268K Add +23.3%
QLTY GMO U.S. Quality ETF 0.01% 8,304 $265K No change
MET Metlife Inc. 0.01% 3,221 $264K Add +0.1%
ASML ASML Holding NV-NY Reg SHS 0.01% 376 $261K New
DFUS Dimensional US Eq MKT ETF 0.01% 4,078 $260K No change
HDV iShares Core High Dividend E 0.01% 2,314 $260K Reduce -10.0%
BKNG Booking Holdings Inc. 0.01% 52 $258K Add +2.0%
BDX Becton Dickinson and Co. 0.01% 1,121 $254K Reduce -4.3%
VHT Vanguard Health Care ETF 0.01% 986 $250K Reduce -4.5%
VTEC Vanguard Ca Tax-Ex Bond 0.01% 2,470 $246K New
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.01% 714 $245K No change
TTE Totalenergies SE -Spon ADR 0.01% 4,500 $245K No change
SPGI S&P Global Inc. 0.01% 490 $244K Add +24.4%
ITW Illinois Tool Works 0.01% 957 $243K Add +6.8%
CB Chubb Ltd. 0.01% 853 $236K New
MCK McKesson Corp. 0.01% 412 $235K New
SOLV Solventum Corp. 0.01% 3,554 $235K Reduce -4.1%
BA The Boeing Co. 0.01% 1,321 $234K Reduce -5.8%
ENB Enbridge Inc. 0.01% 5,437 $231K No change
BCAL California Bancorp 0.01% 13,912 $230K New
FTNT Fortinet Inc. 0.01% 2,406 $227K New
SUB iShares Short-Term National 0.01% 2,148 $227K New
SRE Sempra 0.01% 2,548 $224K Reduce -4.1%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.01% 2,900 $220K No change
ORLY O'reilly Automotive Inc. 0.01% 185 $219K New
ICE Intercontinental Exchange Inc. 0.01% 1,471 $219K Add +3.5%
TGT Target Corp. 0.01% 1,618 $219K Add +10.4%
CI The Cigna Group 0.01% 784 $216K Reduce -0.9%
EQH Equitable Holdings Inc. 0.01% 4,547 $214K New
MDLZ Mondelez International Inc. Class A 0.01% 3,588 $214K Add +7.7%
AIG American International Group 0.01% 2,923 $213K Add +0.1%
FNDX Schwab Fndmntl US LRG Co. ETF 0.01% 8,982 $213K No change
UPS United Parcel Service Class B 0.01% 1,641 $207K Reduce -15.5%
VONG Vanguard Russell 1000 Growth 0.01% 2,001 $207K New
VGK Vanguard Ftse Europe ETF 0.01% 3,219 $204K Add +6.5%
CLX Clorox Company 0.01% 1,240 $201K Add +0.1%
VOOG Vanguard S&P 500 Growth ETF 0.01% 550 $201K New
SPE Special Opportunities Fund 0.01% 13,246 $194K New
HNRG Hallador Energy Co. 0.01% 15,610 $179K New
MRCC Monroe Capital Corp. 0.00% 13,000 $111K Add +18.2%
NOK Nokia Corp.-Spon ADR 0.00% 24,016 $106K Add +3.0%
ABEV Ambev SA-ADR 0.00% 33,635 $62K Add +34.1%

Options reported separately and not counted above: BRK.B calls ($453K).

Other holdings (1): bonds, preferreds, convertibles and warrants · $343K (not counted above)
SecurityClassShares / PrincipalValueChange
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 13,980$343KNo change

Total filed on the 13F, all lines: $2.8B.

Portfolio Sells Q3 2024 → Q4 2024
VTEB Vanguard Tax-Exempt Bond ETF Reduce -0.5% 9.36% −0.72
VIG Vanguard Dividend Apprec ETF Reduce -1.8% 6.73% −0.55
FNDE Schwab Fndmntl Em MRK Eq ETF Reduce -6.1% 0.70% −0.17
BND Vanguard Total Bond Market Reduce -1.7% 1.28% −0.15
MUB iShares National Muni Bond E Reduce -11.3% 0.64% −0.13
VOO Vanguard S&P 500 ETF Reduce -1.1% 2.95% −0.12
DEM Wisdomtree Emerging Markets Reduce -3.1% 0.66% −0.12
AOR iShares Core 60/40 Balanced Reduce -4.0% 0.88% −0.12
VEU Vanguard Ftse All-World Ex-U Reduce -0.8% 0.67% −0.11
DFUV Dimensional US Marketwide Va Reduce -0.3% 1.03% −0.08
VSS Vanguard Ftse All Wo X-US SC Reduce -1.0% 0.45% −0.08
EFAV iShares MSCI Eafe Min Vol Fa Reduce -2.6% 0.33% −0.06
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.3% 0.54% −0.05
HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.04
VTI VG Morningstar TS MKT ETF-US Reduce -0.5% 0.95% −0.03
QAI Nylim HDG MLT-STR TRC ETF-Ui Reduce -5.9% 0.21% −0.03
ACWI iShares MSCI Acwi ETF Reduce -21.4% 0.08% −0.03
JNJ Johnson & Johnson Reduce -3.7% 0.12% −0.03
VNQ Vanguard Real Estate ETF Reduce -4.0% 0.12% −0.02
IWD iShares Russell 1000 Value E Reduce -2.7% 0.23% −0.02
META Meta Platforms Inc. Class A Reduce -5.9% 0.24% −0.02
MNA Nylim Merger Arbtrage ETF-Ui Reduce -9.5% 0.13% −0.02
PEP Pepsico Inc. Reduce -1.8% 0.10% −0.02
BSV Vanguard Short-Term Bond ETF Reduce -33.2% 0.03% −0.02
REET iShares Global REIT ETF Reduce -25.1% 0.03% −0.02
SNOW Snowflake Inc. Sold out 0.00% −0.02
DHR Danaher Corp. Reduce -11.2% 0.04% −0.02
RSP Invesco S&P 500 Equal Weight Reduce -4.7% 0.13% −0.02
VNQI Vanguard GLBL Ex-US Real Est Reduce -1.1% 0.06% −0.02
QCOM Qualcomm Inc. Reduce -2.6% 0.08% −0.02
VUG Vanguard Mrngstar GR ETF-Sui Reduce -8.6% 0.19% −0.01
DFAS Dimensional US Small Cap ETF Reduce -0.4% 0.27% −0.01
XOM Exxon Mobil Corp. Reduce -0.0% 0.09% −0.01
SGOV iShares 0-3 Month Treasury B Reduce -39.1% 0.02% −0.01
COUR Coursera Inc. Sold out 0.00% −0.01
AMGN Amgen Inc. Reduce -0.1% 0.04% −0.01
EEM iShares MSCI Emerging Market Reduce -2.5% 0.07% −0.01
VONV Vanguard Russell 1000 Value Reduce -2.3% 0.12% −0.01
PFE Pfizer Inc. Reduce -17.0% 0.03% −0.01
MRK Merck & Co. Inc. Reduce -0.7% 0.05% −0.01
EEMV iShares MSCI Emg MKT Min Vol Reduce -7.5% 0.05% −0.01
MRO Marathon Oil Corp. Sold out 0.00% −0.01
ORCL Oracle Corp. Reduce -1.1% 0.12% −0.01
CVX Chevron Corp. Reduce -4.7% 0.08% −0.01
DLN Wisdomtree US Largecap Divid Reduce -2.3% 0.12% −0.01
IJH iShares Core S&P Midcap ETF Reduce -1.6% 0.15% −0.01
ELV Elevance Health Inc. Sold out 0.00% −0.01
LOW Lowe's Cos Inc. Reduce -1.0% 0.06% −0.01
KO The Coca-Cola Co. Reduce -3.6% 0.04% −0.01
ESTC Elastic NV Sold out 0.00% −0.01

Portfolio Buys Q3 2024 → Q4 2024
VBR Vngrd Mrngst SL-CP Val ETF-U Add +42.1% 8.76% +2.20
IVV iShares Core S&P 500 ETF Add +21.7% 11.39% +1.75
IUSV iShares Core S&P U.S. Value Add +13.8% 10.92% +0.52
PWRD TCW Transform Systems ETF Add +380.8% 0.34% +0.27
VB Vanguard Most SM-Cap ETF-Usd Add +20.4% 0.50% +0.07
VOTE TCW Transform 500 ETF Add +39.1% 0.21% +0.06
GOOGL Alphabet Inc. Class A Add +1.4% 0.55% +0.05
SDG Ish MSCI Glob Sust Deve Goal Add +89.5% 0.13% +0.04
AMZN Amazon.com Inc. Add +5.7% 0.25% +0.04
JPM JPMorgan Chase & Co. Add +8.1% 0.24% +0.03
SUSA iShares ESG Optimized MSCI U New 0.03% +0.03
DSI iShares ESG MSCI KLD 400 ETF Add +116.3% 0.05% +0.03
GOOG Alphabet Inc. Class C Add +1.5% 0.30% +0.03
AVGO Broadcom Inc. Add +6.2% 0.10% +0.03
IWV iShares Russell 3000 ETF Add +8.3% 0.34% +0.02
IUSB Ishr CR Unvrse Usd BD ETF-Ui Add +62.9% 0.05% +0.02
AGG iShares Core U.S. Aggregate Add +13.7% 0.44% +0.01
ONEV SS SPDR R1000 Lo Vol Foc ETF New 0.01% +0.01
BLK BlackRock Inc. New 0.01% +0.01
INTU Intuit Inc. New 0.01% +0.01
CRM Salesforce Inc. Add +4.1% 0.08% +0.01
VGIT Vanguard Intermediate-Term T New 0.01% +0.01
NFLX Netflix Inc. Add +12.4% 0.05% +0.01
NVDA Nvidia Corp. Add +6.9% 0.11% +0.01
SLYG SS SPDR S&P 600 SC GR ETF New 0.01% +0.01
BX Blackstone Inc. Add +58.2% 0.02% +0.01
COP Conocophillips Add +119.3% 0.02% +0.01
ASML ASML Holding NV-NY Reg SHS New 0.01% +0.01
WMT Walmart Inc. Add +13.6% 0.05% +0.01
VTEC Vanguard Ca Tax-Ex Bond New 0.01% +0.01
XLK SS Technology Select Sector Add +31.7% 0.04% +0.01
MCK McKesson Corp. New 0.01% +0.01
SCHG Schwab US Large-Cap Growth Add +54.0% 0.02% +0.01
CB Chubb Ltd. New 0.01% +0.01
BCAL California Bancorp New 0.01% +0.01
FTNT Fortinet Inc. New 0.01% +0.01
SUB iShares Short-Term National New 0.01% +0.01
ORLY O'reilly Automotive Inc. New 0.01% +0.01
EQH Equitable Holdings Inc. New 0.01% +0.01
VONG Vanguard Russell 1000 Growth New 0.01% +0.01
GLD SPDR Gold Shares Add +33.3% 0.04% +0.01
VOOG Vanguard S&P 500 Growth ETF New 0.01% +0.01
SPE Special Opportunities Fund New 0.01% +0.01
HNRG Hallador Energy Co. New 0.01% +0.01
SCHW Schwab (charles) Corp. Add +1.7% 0.07% +0.01
DIS The Walt Disney Co. Add +0.6% 0.06% +0.01
BAC Bank of America Corp. Add +4.6% 0.06% +0.01
VYM Vanguard High DVD Yield ETF Add +15.4% 0.05% +0.00
IWF iShares Russell 1000 Growth Add +1.4% 0.14% +0.00
IWR iShares Russell Mid-Cap ETF Add +8.4% 0.13% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 399$4.1BIVV, VBR, IUSV, ACWV, VIG
Q1 2026 337$3.5BIVV, VBR, IUSV, ACWV, VTEB
Q4 2025 318$3.5BIVV, IUSV, VBR, ACWV, VTEB
Q3 2025 296$3.3BIVV, IUSV, VBR, ACWV, VIG
Q2 2025 307$3.1BIVV, IUSV, VBR, ACWV, VTEB
Q1 2025 287$2.9BIVV, IUSV, VBR, ACWV, VTEB
Q4 2024 286$2.8BIVV, IUSV, ACWV, VTEB, VBR
Q3 2024 290$2.6BACWV, IUSV, VTEB, IVV, VIG
Q2 2024 279$2.5BVTEB, ACWV, IUSV, IVV, VIG
Q1 2024 315$2.4BACWV, VTEB, IUSV, IVV, VIG