Aspiriant, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Aspiriant, LLC reported 296 stock positions worth $3.3 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 12.2% of the portfolio, followed by iShares Core S&P U.S. Value (IUSV, 11.0%) and Vngrd Mrngst SL-CP Val ETF-U (VBR, 9.7%). Compared with Q2 2025, it opened 15 new positions, sold out of 26, added to 61 and reduced 165. The biggest buy was Vngrd Mrngst SL-CP Val ETF-U (VBR, shares +3%) and the biggest sale Vanguard Tax-Exempt Bond ETF (VTEB, shares −14%).

Most Recent 13F
Q2 2026
Location
San Francisco, CA
CIK
0001433541
Portfolio Value
$3.3B (Q3 2025)
SEC Filing
0001172661-25-004424 ↗ filed Oct 24, 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 Q4 2024 Q1 2025: $2.9B Q1 2025 Q2 2025: $3.1B Q2 2025 Q3 2025: $3.3B $3.3B Q3 2025 Q4 2025: $3.5B Q4 2025 Q1 2026: $3.5B Q1 2026 Q2 2026: $4.1B Q2 2026

Holdings 296 stocks · $3.3B
IVV iShares Core S&P 500 ETF 12.25% 598,429 $400.5M Reduce -4.2%
IUSV iShares Core S&P U.S. Value 11.01% 3,600,340 $359.9M Add +0.7%
VBR Vngrd Mrngst SL-CP Val ETF-U 9.75% 1,527,300 $318.8M Add +3.0%
ACWV iShares MSCI Global Min Vol 8.87% 2,419,677 $290.2M Add +0.2%
VIG Vanguard Dividend Apprec ETF 6.39% 968,533 $209.0M Add +0.5%
VTEB Vanguard Tax-Exempt Bond ETF 6.32% 4,124,235 $206.5M Reduce -14.3%
VOO Vanguard S&P 500 ETF 2.94% 157,178 $96.3M Reduce -0.3%
EFV iShares MSCI Eafe Value ETF 2.32% 1,117,343 $75.8M Reduce -1.0%
AAPL Apple Inc. 2.28% 292,895 $74.6M Reduce -2.5%
IEFA iShares Core MSCI Eafe ETF 2.24% 839,172 $73.3M Add +8.8%
IEMG iShares Core MSCI Emerging 2.06% 1,019,936 $67.2M Add +0.8%
IWB iShares Russell 1000 ETF 1.25% 112,068 $41.0M Reduce -0.5%
BND Vanguard Total Bond Market 1.24% 544,740 $40.5M Add +2.8%
SPY SS SPDR S&P 500 ETF Trust-US 1.23% 60,429 $40.3M Reduce -1.0%
MUB iShares National Muni Bond E 1.10% 338,053 $36.0M Reduce -0.7%
DFUV Dimensional US Marketwide Va 0.99% 725,093 $32.4M Add +0.6%
VIOV Vanguard S&P Small-Cap 600 V 0.97% 333,294 $31.7M Reduce -2.2%
VTI VG Morningstar TS MKT ETF-US 0.96% 95,606 $31.4M Reduce -0.3%
BRK.B Berkshire Hathaway Inc. Class B 0.94% 61,401 $30.9M Reduce -2.2%
AOR iShares Core 60/40 Balanced 0.92% 465,643 $30.0M Add +3.0%
CRBN Ish Low Car Opt Ms Ac ETF-US 0.80% 114,664 $26.0M Add +1.0%
FBND Fidelity Total Bond ETF 0.77% 547,715 $25.3M Add +14.3%
VEU Vanguard Ftse All-World Ex-U 0.72% 328,250 $23.4M Add +0.1%
MSFT Microsoft Corp. 0.71% 44,994 $23.3M Reduce -4.2%
DFAX Dimensional World Ex US Core 0.71% 736,908 $23.1M Reduce -1.1%
FNDE Schwab Fndmntl Em MRK Eq ETF 0.69% 624,096 $22.6M Reduce -1.9%
DEM Wisdomtree Emerging Markets 0.59% 419,980 $19.3M Reduce -0.6%
VB Vanguard Most SM-Cap ETF-Usd 0.59% 75,267 $19.1M Add +7.5%
VTV Vanguard Mrngstr Val ETF-Aui 0.58% 102,384 $19.1M Reduce -1.6%
GOOGL Alphabet Inc. Class A 0.55% 73,891 $18.0M Reduce -1.8%
DFNM Dimensional National Muni BD 0.54% 367,049 $17.6M Add +5.6%
AGG iShares Core U.S. Aggregate 0.50% 163,669 $16.4M Reduce -42.7%
VSS Vanguard Ftse All Wo X-US SC 0.46% 106,313 $15.2M Reduce -4.9%
XLF SS Financial Select Sector 0.46% 280,560 $15.1M Add +0.5%
IWN iShares Russell 2000 Value E 0.46% 84,672 $15.0M Reduce -0.3%
PWRD TCW Transform Systems ETF 0.43% 142,783 $13.9M Add +0.9%
DFAC Dimensional US Core Equity 2 0.38% 320,167 $12.3M Reduce -1.3%
IWM iShares Russell 2000 ETF 0.34% 46,242 $11.2M Reduce -0.5%
DFAT Dimensional US Target Value 0.34% 191,941 $11.2M Reduce -1.0%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.33% 252,229 $10.8M Add +1.7%
GOOG Alphabet Inc. Class C 0.32% 42,302 $10.3M Reduce -2.7%
VGT Vanguard Info Tech ETF 0.30% 13,148 $9.8M Add +2.0%
IWV iShares Russell 3000 ETF 0.30% 25,466 $9.7M Reduce -0.2%
DFIV Dimensional International Va 0.29% 202,427 $9.3M Reduce -0.9%
VOTE TCW Transform 500 ETF 0.25% 105,559 $8.3M Add +3.2%
VEA Vanguard Ftse Developed ETF 0.25% 137,470 $8.2M Add +2.1%
USMV iShares MSCI USA Min Vol Fac 0.25% 85,448 $8.1M Reduce -1.3%
DFAS Dimensional US Small Cap ETF 0.25% 117,061 $8.0M Add +3.9%
DLN Wisdomtree US Largecap Divid 0.24% 90,157 $7.8M Add +38.2%
META Meta Platforms Inc. Class A 0.24% 10,627 $7.8M Reduce -4.0%
IWD iShares Russell 1000 Value E 0.23% 36,909 $7.5M Add +3.0%
JPM JPMorgan Chase & Co. 0.22% 23,028 $7.3M Reduce -5.3%
AMZN Amazon.com Inc. 0.21% 31,738 $7.0M Add +5.4%
EFAV iShares MSCI Eafe Min Vol Fa 0.20% 76,881 $6.5M Reduce -2.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.19% 12,773 $6.1M Add +6.9%
IJR iShares Core S&P Small-Cap E 0.19% 51,365 $6.1M Add +5.3%
SCHX Schwab US Large-Cap ETF 0.19% 229,919 $6.1M Reduce -0.2%
BRK.A Berkshire Hathaway Inc. Class A 0.18% 8 $6.0M No change
VWO Vanguard Ftse Emerging Marke 0.18% 110,935 $6.0M Add +1.9%
ORCL Oracle Corp. 0.17% 19,828 $5.6M Reduce -0.8%
ITOT iShares Core S&P Total U.S. 0.17% 37,939 $5.5M No change
QAI Nylim HDG MLT-STR TRC ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET 0.17% 163,708 $5.5M Add +7.0%
MNA Nylim Merger Arbtrage ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET 0.16% 141,658 $5.1M Add +7.6%
IYY iShares Dow Jones U.S. ETF 0.15% 29,744 $4.8M No change
PG The Procter & Gamble Co. 0.15% 31,364 $4.8M Reduce -3.6%
EFA iShares MSCI Eafe ETF 0.14% 49,197 $4.6M Reduce -50.7%
NVDA Nvidia Corp. 0.14% 24,542 $4.6M Reduce -5.0%
IUSG iShares Core S&P U.S. Growth 0.14% 27,787 $4.6M No change
CINF Cincinnati Financial Corp. 0.14% 28,892 $4.6M Reduce -3.5%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.14% 14,680 $4.5M Add +10.1%
SCZ iShares MSCI Eafe Small-Cap 0.13% 57,413 $4.4M Reduce -1.3%
VUSB Vanguard Ultra Short Bond Et 0.13% 86,913 $4.3M Add +38.1%
QQQ Invesco QQQ Trust Series 1 0.13% 7,212 $4.3M Reduce -0.1%
VTIP Vanguard Short-Term Tips 0.13% 82,608 $4.2M Add +1.1%
RY Royal Bank of Canada 0.13% 27,892 $4.1M Reduce -1.6%
IJH iShares Core S&P Midcap ETF 0.12% 58,825 $3.8M Reduce -11.2%
IWR iShares Russell Mid-Cap ETF 0.12% 39,311 $3.8M Reduce -50.2%
VONV Vanguard Russell 1000 Value 0.11% 40,191 $3.6M No change
JNJ Johnson & Johnson 0.11% 19,296 $3.6M Reduce -4.6%
IWF iShares Russell 1000 Growth 0.11% 7,571 $3.5M Reduce -24.3%
VNQ Vanguard Real Estate ETF 0.10% 37,118 $3.4M Add +0.3%
AVGO Broadcom Inc. 0.10% 10,144 $3.3M Reduce -8.4%
BILL Bill Holdings Inc. 0.10% 59,594 $3.2M Reduce -0.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.10% 21,650 $3.1M Reduce -1.7%
RSP Invesco S&P 500 Equal Weight 0.09% 15,650 $3.0M Reduce -14.1%
XOM Exxon Mobil Corp. 0.09% 25,531 $2.9M Reduce -0.3%
TDG Transdigm Group Inc. 0.08% 2,000 $2.6M Reduce -0.3%
VXUS Vanguard Total Intl Stock 0.08% 35,129 $2.6M No change
PEP Pepsico Inc. 0.07% 17,101 $2.4M Reduce -8.8%
ACWI iShares MSCI Acwi ETF 0.07% 17,316 $2.4M Reduce -0.3%
TSLA Tesla Inc. 0.07% 5,147 $2.3M Reduce -23.1%
ABT Abbott Laboratories 0.07% 17,053 $2.3M Reduce -1.2%
SCHW Schwab (charles) Corp. 0.07% 23,813 $2.3M Reduce -4.0%
HD Home Depot Inc. 0.07% 5,605 $2.3M Reduce -0.5%
SDY SS SPDR S&P Dividend ETF 0.07% 15,564 $2.2M No change
AOM iShares Core 40/60 Moderate 0.07% 45,218 $2.2M Add +16.6%
ABBV Abbvie Inc. 0.07% 9,235 $2.1M Add +10.0%
EEM iShares MSCI Emerging Market 0.06% 39,576 $2.1M Reduce -55.4%
SHV iShares 0-1 Year Treasury Bo 0.06% 18,830 $2.1M Reduce -1.2%
CVX Chevron Corp. 0.06% 13,380 $2.1M Reduce -5.4%
QCOM Qualcomm Inc. 0.06% 12,265 $2.0M Reduce -4.0%
SCHB Schwab US Broad Market ETF 0.06% 77,840 $2.0M No change
VNQI Vanguard GLBL Ex-US Real Est 0.06% 41,519 $2.0M No change
MDY State Street SPDR S&P Midcap 0.06% 3,221 $1.9M No change
COST Costco Wholesale Corp. 0.06% 2,031 $1.9M Reduce -8.1%
WFC Wells Fargo & Co. 0.06% 21,687 $1.8M Reduce -4.3%
MA Mastercard Inc. Class A 0.05% 3,140 $1.8M Reduce -5.6%
LOW Lowe's Cos Inc. 0.05% 7,034 $1.8M Add +6.4%
IWP iShares Russell Mid-Cap Grow 0.05% 12,301 $1.8M Reduce -50.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 33,076 $1.7M Reduce -5.2%
DSI iShares ESG MSCI KLD 400 ETF 0.05% 13,494 $1.7M No change
NFLX Netflix Inc. 0.05% 1,399 $1.7M Reduce -3.2%
VYM Vanguard High DVD Yield ETF 0.05% 11,633 $1.6M Add +0.1%
V Visa Inc. Class A 0.05% 4,778 $1.6M Add +3.9%
RTX RTX Corp. 0.05% 9,428 $1.6M Reduce -1.4%
UNP Union Pacific Corp. 0.05% 6,396 $1.5M Reduce -10.4%
GD General Dynamics Corp. 0.05% 4,433 $1.5M Reduce -10.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.05% 13,169 $1.5M Reduce -2.4%
TT Trane Technologies PLC 0.05% 3,562 $1.5M Reduce -5.5%
SCHV Schwab US Large-Cap Value 0.04% 50,501 $1.5M Add +9.4%
ADP Automatic Data Processing 0.04% 4,928 $1.4M Reduce -16.1%
AXP American Express Co. 0.04% 4,348 $1.4M Reduce -1.4%
PAYX Paychex Inc. 0.04% 11,247 $1.4M Reduce -0.4%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.04% 4,493 $1.3M Reduce -9.6%
EEMV iShares MSCI Emg MKT Min Vol 0.04% 20,289 $1.3M Reduce -6.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 4,532 $1.3M Reduce -3.9%
MPC Marathon Petroleum Corp. 0.04% 6,629 $1.3M Reduce -2.7%
AMGN Amgen Inc. 0.04% 4,475 $1.3M Add +1.4%
GE General Electric filed as GE AEROSPACE 0.04% 4,157 $1.3M Reduce -10.8%
CSCO Cisco Systems Inc. 0.04% 17,942 $1.2M Reduce -1.6%
WMT Walmart Inc. 0.04% 11,905 $1.2M Reduce -11.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.04% 10,930 $1.2M Reduce -49.5%
DIHP Dimensional International Hi 0.04% 39,901 $1.2M No change
VXF Vanguard Extended Market ETF 0.04% 5,793 $1.2M No change
CAT Caterpillar Inc. 0.04% 2,476 $1.2M Reduce -1.4%
EAGG iShares ESG Aware US Aggrega 0.04% 24,185 $1.2M No change
MRK Merck & Co. Inc. 0.04% 13,810 $1.2M Reduce -17.8%
AOA iShares Core 80/20 Aggressiv 0.03% 12,818 $1.1M Add +1.0%
IWO iShares Russell 2000 Growth 0.03% 3,446 $1.1M Reduce -1.7%
SCHD Schwab US DVD Equity ETF 0.03% 40,109 $1.1M Reduce -11.5%
MMM 3M Co. 0.03% 7,015 $1.1M Reduce -4.8%
UNH Unitedhealth Group Inc. 0.03% 3,076 $1.1M Reduce -8.5%
XLK SS Technology Select Sector 0.03% 3,655 $1.0M Add +22.2%
ADBE Adobe Inc. 0.03% 2,854 $1.0M Reduce -2.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.03% 3,410 $1.0M No change
SLGN Silgan Holdings Inc. 0.03% 23,128 $995K Reduce -0.1%
SPG Simon Property Group Inc. 0.03% 5,289 $993K Reduce -1.8%
CRM Salesforce Inc. 0.03% 4,150 $984K Reduce -18.3%
SCHG Schwab US Large-Cap Growth 0.03% 30,648 $978K Add +89.5%
GLD SPDR Gold Shares 0.03% 2,649 $942K No change
VGSH Vanguard Short-Term Treasury 0.03% 15,928 $937K Add +0.3%
SUSA iShares ESG Optimized MSCI U 0.03% 6,868 $932K No change
BNDX Vanguard Total Intl Bond ETF 0.03% 18,321 $906K Reduce -0.5%
DGRO iShares Core Dividend Growth 0.03% 13,238 $901K Reduce -1.7%
DVY iShares Select Dividend ETF 0.03% 6,251 $888K No change
COF Capital One Financial Corp. 0.03% 4,113 $874K Add +8.9%
IVE iShares S&P 500 Value ETF 0.03% 4,224 $872K Reduce -50.0%
USB US Bancorp 0.03% 17,838 $862K Reduce -12.1%
SDG Ish MSCI Glob Sust Deve Goal 0.03% 10,180 $847K No change
KO The Coca-Cola Co. 0.03% 12,720 $844K Reduce -8.1%
QSR Restaurant Brands Intern 0.03% 13,072 $838K Reduce -0.1%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.03% 10,165 $825K Add +0.8%
SLNO Soleno Therapeutics Inc. 0.03% 12,128 $820K No change
DHR Danaher Corp. 0.03% 4,129 $819K Reduce -10.1%
VGIT Vanguard Intermediate-Term T 0.02% 13,391 $804K Add +93.9%
QEMM State Street SPDR MSCI Emerg 0.02% 12,092 $802K No change
TMO Thermo Fisher Scientific Inc. 0.02% 1,617 $784K Reduce -0.7%
UBER Uber Technologies Inc. 0.02% 7,697 $754K New
HDV iShares Core High Dividend E 0.02% 6,139 $752K Add +143.9%
VT Vanguard Tot World STK ETF 0.02% 5,389 $743K Add +6.3%
ESGU iShares ESG Aware MSCI USA 0.02% 5,082 $740K No change
SHY iShares 1-3 Year Treasury Bo 0.02% 8,899 $738K Reduce -30.1%
CP Canadian Pacific Kansas City 0.02% 9,799 $730K Reduce -0.4%
DOCU Docusign Inc. 0.02% 10,100 $728K Reduce -0.2%
PFE Pfizer Inc. 0.02% 28,030 $714K Add +1.4%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.02% 2,398 $705K No change
RDIV Invesco S&P Ultra Dividend 0.02% 13,430 $700K New
GS Goldman Sachs Group Inc. 0.02% 876 $698K Reduce -12.7%
IJT iShares S&P Small-Cap 600 GR 0.02% 4,901 $693K No change
KMI Kinder Morgan Inc. 0.02% 23,941 $678K Reduce -3.8%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.02% 14,169 $662K Reduce -2.2%
DUHP Dimensional US High Profi Et 0.02% 17,299 $653K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.02% 3,672 $641K No change
SCHF Schwab Intl Equity ETF 0.02% 27,326 $636K New
BBH Vaneck Biotech ETF 0.02% 3,727 $618K No change
HBAN Huntington Bancshares Inc. 0.02% 35,658 $616K Reduce -0.6%
AMAT Applied Materials Inc. 0.02% 3,005 $615K Reduce -7.3%
SCHM Schwab US Mid Cap ETF 0.02% 20,475 $607K Add +30.4%
IAU iShares Gold Trust 0.02% 7,854 $572K Add +1.8%
DDOG Datadog Inc. Class A 0.02% 4,002 $570K New
FROG Jfrog Ltd. 0.02% 11,742 $556K No change
CMCSA Comcast Corp. Class A 0.02% 17,016 $535K Reduce -6.5%
MCD McDonald's Corp. 0.02% 1,741 $529K Reduce -6.2%
IJJ iShares S&P Mid-Cap 400 Valu 0.02% 3,976 $516K Reduce -4.5%
SPLV Invesco S&P 500 Low Volatili 0.02% 7,014 $515K No change
FDX FedEx Corp. 0.02% 2,179 $514K Reduce -22.6%
NOW ServiceNow Inc. 0.02% 551 $507K Add +15.3%
MS Morgan Stanley 0.02% 3,145 $500K Reduce -2.1%
IDV iShares International Select 0.02% 13,655 $499K No change
GEV GE Vernova Inc. 0.02% 805 $495K Reduce -18.4%
AVUS Avantis U.S. Equity ETF 0.01% 4,493 $488K No change
NOBL Proshares S&P 500 Dividend A 0.01% 4,705 $485K Reduce -7.6%
VOOG Vanguard S&P 500 Growth ETF 0.01% 1,105 $481K No change
VAW Vanguard Materials ETF 0.01% 2,324 $476K No change
TIP iShares Tips Bond ETF 0.01% 4,278 $476K Add +0.9%
ESAB Esab Corp. 0.01% 4,220 $472K Reduce -0.3%
DE Deere & Co. 0.01% 1,006 $460K Reduce -3.2%
BSV Vanguard Short-Term Bond ETF 0.01% 5,757 $454K Reduce -41.2%
SPYM Ste STR SPDR PT S&P 500 ETF 0.01% 5,696 $446K Add +33.9%
AVDE Avantis International Equity 0.01% 5,570 $439K No change
TFC Truist Financial Corp. 0.01% 9,502 $434K Reduce -18.4%
LLY Eli Lilly & Co. 0.01% 567 $433K Reduce -10.1%
BLK BlackRock Inc. 0.01% 366 $427K Reduce -3.7%
ETN Eaton Corp. PLC 0.01% 1,134 $424K Add +67.0%
DUK Duke Energy Corp. 0.01% 3,341 $414K Reduce -1.8%
SBUX Starbucks Corp. 0.01% 4,866 $412K Reduce -1.3%
ECL Ecolab Inc. 0.01% 1,500 $411K Reduce -16.3%
QUAL iShares MSCI USA Quality Fac 0.01% 2,101 $409K No change
INTC Intel Corp. 0.01% 12,147 $408K Reduce -29.4%
SOXX iShares Semiconductor ETF 0.01% 1,483 $402K New
REET iShares Global REIT ETF 0.01% 15,593 $399K Reduce -22.8%
JEF Jefferies Financial Group Inc. 0.01% 6,073 $397K Reduce -0.5%
SCHZ Schwab US Aggregate Bond ETF 0.01% 16,828 $395K No change
ILCG iShares Morningstar Growth E 0.01% 3,700 $386K New
PANW Palo Alto Networks Inc. 0.01% 1,844 $375K Reduce -26.1%
PVLA Palvella Therapeutics Inc. 0.01% 5,852 $367K New
WM Waste Management Inc. 0.01% 1,654 $365K Reduce -13.4%
SCHA Schwab US Small-Cap ETF 0.01% 12,786 $357K New
TMUS T-Mobile US Inc. 0.01% 1,484 $355K Reduce -11.0%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.01% 758 $352K No change
D Dominion Energy Inc. 0.01% 5,726 $350K Reduce -1.2%
IGSB iShares 1-5Y Inv Grade Corp. 0.01% 6,604 $350K Reduce -14.9%
GSK GSK PLC-Spon ADR 0.01% 8,000 $345K Reduce -1.5%
NUEM Nuveen ESG Emerging Markets 0.01% 9,622 $343K No change
IWS iShares Russell Mid-Cap Valu 0.01% 2,444 $341K Reduce -50.6%
STRL Sterling Infrastructure Inc. 0.01% 1,000 $340K New
VCSH Vanguard S/T Corp. Bond ETF 0.01% 4,227 $338K Reduce -20.0%
PH Parker Hannifin Corp. 0.01% 443 $336K Reduce -4.1%
LMT Lockheed Martin Corp. 0.01% 659 $329K Reduce -31.2%
BX Blackstone Inc. 0.01% 1,900 $325K Reduce -1.8%
RWX State Street SPDR Dow Jones 0.01% 11,657 $324K No change
AOK iShares Core 30/70 Conservat 0.01% 8,060 $324K No change
COP Conocophillips 0.01% 3,343 $316K Reduce -29.6%
ITW Illinois Tool Works 0.01% 1,207 $315K Reduce -2.1%
NEE Nextera Energy Inc. 0.01% 4,150 $313K Reduce -2.4%
MDT Medtronic PLC 0.01% 3,235 $308K Reduce -1.2%
AVEM Avantis Emerging Markets Eq 0.01% 4,083 $307K No change
CHTR Charter Communications Inc. Class A 0.01% 1,109 $305K Reduce -10.1%
RWR SS SPDR Dow Jones REIT ETF 0.01% 3,035 $304K No change
VZ Verizon Communications Inc. 0.01% 6,914 $304K Reduce -12.7%
MCK McKesson Corp. 0.01% 390 $301K Reduce -27.1%
DFUS Dimensional US Eq MKT ETF 0.01% 4,078 $295K No change
QLC NT US Qual LC ETF 0.01% 3,756 $293K No change
HON Honeywell International Inc. 0.01% 1,379 $290K Reduce -20.8%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.01% 714 $287K No change
SPDN Dir DLY SP 500 BR 1X ETF-Usi 0.01% 29,790 $286K No change
BMY Bristol-Myers Squibb Co. 0.01% 6,203 $280K Reduce -18.9%
AVUV Avantis US Small Cap Value 0.01% 2,803 $279K Add +7.4%
NFG National Fuel Gas Co. 0.01% 3,000 $277K Reduce -9.3%
BOX Box Inc. Class A 0.01% 8,586 $277K Reduce -0.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.01% 3,175 $277K No change
BKNG Booking Holdings Inc. 0.01% 51 $275K Reduce -28.2%
ENB Enbridge Inc. 0.01% 5,437 $274K No change
NVO Novo-Nordisk A/S-Spons ADR 0.01% 4,935 $274K Add +1.0%
BA The Boeing Co. 0.01% 1,268 $274K Reduce -1.2%
TTE Totalenergies SE -Spon ADR 0.01% 4,500 $269K No change
IBIT iShares Bitcoin Trust ETF 0.01% 4,120 $268K Add +0.1%
MET Metlife Inc. 0.01% 3,211 $264K Reduce -16.9%
VGK Vanguard Ftse Europe ETF 0.01% 3,293 $263K No change
GWX State Street SPDR S&P Intern 0.01% 6,294 $253K No change
VTEC Vanguard Ca Tax-Ex Bond 0.01% 2,530 $252K No change
AIG American International Group 0.01% 3,122 $245K Reduce -10.9%
NVS Novartis AG-Sponsored ADR 0.01% 1,903 $244K Reduce -6.8%
LIN Linde PLC 0.01% 509 $242K Reduce -11.0%
VONG Vanguard Russell 1000 Growth 0.01% 2,001 $241K No change
ANET Arista Networks Inc. 0.01% 1,652 $241K Reduce -44.7%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.01% 771 $239K Add +3.4%
VHT Vanguard Health Care ETF 0.01% 919 $238K New
ICE Intercontinental Exchange Inc. 0.01% 1,410 $238K Reduce -13.0%
DFAW Dimensional World Eqty ETF 0.01% 3,294 $237K New
CB Chubb Ltd. 0.01% 823 $232K Reduce -37.9%
BCAL California Bancorp 0.01% 13,912 $232K No change
PM Philip Morris International 0.01% 1,384 $224K Reduce -37.4%
BEP Brookfield Renewable Partner 0.01% 8,561 $221K New
GIS General Mills Inc. 0.01% 4,308 $217K Add +1.6%
T AT&T Inc. 0.01% 7,687 $217K Reduce -14.2%
FNDX Schwab Fndmntl US LRG Co. ETF 0.01% 8,199 $216K Reduce -8.7%
EFG iShares MSCI Eafe Growth ETF 0.01% 1,888 $215K No change
INTU Intuit Inc. 0.01% 310 $212K Reduce -15.5%
REZI Resideo Technologies Inc. 0.01% 4,900 $212K New
CI The Cigna Group 0.01% 732 $211K Reduce -18.3%
ACN Accenture PLC Class A 0.01% 847 $209K Reduce -73.3%
IYW iShares Ustechnology ETF 0.01% 1,043 $204K New
XERS Xeris Biopharma Holdings Inc. 0.01% 20,000 $163K New
NOK Nokia Corp.-Spon ADR 0.00% 23,000 $111K Reduce -2.1%
ABEV Ambev SA-ADR 0.00% 25,000 $56K Reduce -6.0%
Other holdings (1): bonds, preferreds, convertibles and warrants · $353K (not counted above)
SecurityClassShares / PrincipalValueChange
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 13,980$353KNo change

Total filed on the 13F, all lines: $3.3B.

Portfolio Sells Q2 2025 → Q3 2025
VTEB Vanguard Tax-Exempt Bond ETF Reduce -14.3% 6.32% −1.19
AGG iShares Core U.S. Aggregate Reduce -42.7% 0.50% −0.40
EFA iShares MSCI Eafe ETF Reduce -50.7% 0.14% −0.14
IWR iShares Russell Mid-Cap ETF Reduce -50.2% 0.12% −0.11
IVV iShares Core S&P 500 ETF Reduce -4.2% 12.25% −0.08
EEM iShares MSCI Emerging Market Reduce -55.4% 0.06% −0.07
IWP iShares Russell Mid-Cap Grow Reduce -50.1% 0.05% −0.06
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -49.5% 0.04% −0.04
MUB iShares National Muni Bond E Reduce -0.7% 1.10% −0.03
MSFT Microsoft Corp. Reduce -4.2% 0.71% −0.03
IWF iShares Russell 1000 Growth Reduce -24.3% 0.11% −0.03
IVE iShares S&P 500 Value ETF Reduce -50.0% 0.03% −0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.2% 0.94% −0.03
ACN Accenture PLC Class A Reduce -73.3% 0.01% −0.02
META Meta Platforms Inc. Class A Reduce -4.0% 0.24% −0.02
DEM Wisdomtree Emerging Markets Reduce -0.6% 0.59% −0.02
PG The Procter & Gamble Co. Reduce -3.6% 0.15% −0.02
TDG Transdigm Group Inc. Reduce -0.3% 0.08% −0.02
RSP Invesco S&P 500 Equal Weight Reduce -14.1% 0.09% −0.01
VSS Vanguard Ftse All Wo X-US SC Reduce -4.9% 0.46% −0.01
CRM Salesforce Inc. Reduce -18.3% 0.03% −0.01
ADP Automatic Data Processing Reduce -16.1% 0.04% −0.01
IJH iShares Core S&P Midcap ETF Reduce -11.2% 0.12% −0.01
RBRK Rubrik Inc. Class A Sold out 0.00% −0.01
COST Costco Wholesale Corp. Reduce -8.1% 0.06% −0.01
TEM Tempus AI Inc. Class A Sold out 0.00% −0.01
AFRM Affirm Holdings Inc. Sold out 0.00% −0.01
IXN iShares Global Tech ETF Sold out 0.00% −0.01
SHY iShares 1-3 Year Treasury Bo Reduce -30.1% 0.02% −0.01
EFAV iShares MSCI Eafe Min Vol Fa Reduce -2.3% 0.20% −0.01
BSV Vanguard Short-Term Bond ETF Reduce -41.2% 0.01% −0.01
IWS iShares Russell Mid-Cap Valu Reduce -50.6% 0.01% −0.01
NFLX Netflix Inc. Reduce -3.2% 0.05% −0.01
USMV iShares MSCI USA Min Vol Fac Reduce -1.3% 0.25% −0.01
WMB Williams Cos Inc. Sold out 0.00% −0.01
SLGN Silgan Holdings Inc. Reduce -0.1% 0.03% −0.01
MNST Monster Beverage Corp. Sold out 0.00% −0.01
IVW iShares S&P 500 Growth ETF Sold out 0.00% −0.01
QLTY GMO U.S. Quality ETF Sold out 0.00% −0.01
PAYX Paychex Inc. Reduce -0.4% 0.04% −0.01
DTE DTE Energy Company Sold out 0.00% −0.01
RBLX Roblox Corp. Class A Sold out 0.00% −0.01
PNC PNC Financial Services Group Sold out 0.00% −0.01
IEI iShares 3-7 Year Treasury Bo Sold out 0.00% −0.01
DVN Devon Energy Corp. Sold out 0.00% −0.01
SUB iShares Short-Term National Sold out 0.00% −0.01
FTNT Fortinet Inc. Sold out 0.00% −0.01
DIS The Walt Disney Co. Reduce -2.4% 0.05% −0.01
SPGI S&P Global Inc. Sold out 0.00% −0.01
MORN Morningstar Inc. Sold out 0.00% −0.01

Portfolio Buys Q2 2025 → Q3 2025
VBR Vngrd Mrngst SL-CP Val ETF-U Add +3.0% 9.75% +0.55
IUSV iShares Core S&P U.S. Value Add +0.7% 11.01% +0.25
IEFA iShares Core MSCI Eafe ETF Add +8.8% 2.24% +0.19
IEMG iShares Core MSCI Emerging Add +0.8% 2.06% +0.13
VIG Vanguard Dividend Apprec ETF Add +0.5% 6.39% +0.12
FBND Fidelity Total Bond ETF Add +14.3% 0.77% +0.08
DLN Wisdomtree US Largecap Divid Add +38.2% 0.24% +0.07
VB Vanguard Most SM-Cap ETF-Usd Add +7.5% 0.59% +0.06
VUSB Vanguard Ultra Short Bond Et Add +38.1% 0.13% +0.03
AOR iShares Core 60/40 Balanced Add +3.0% 0.92% +0.03
CRBN Ish Low Car Opt Ms Ac ETF-US Add +1.0% 0.80% +0.03
VGT Vanguard Info Tech ETF Add +2.0% 0.30% +0.03
UBER Uber Technologies Inc. New 0.02% +0.02
DFUV Dimensional US Marketwide Va Add +0.6% 0.99% +0.02
RDIV Invesco S&P Ultra Dividend New 0.02% +0.02
PWRD TCW Transform Systems ETF Add +0.9% 0.43% +0.02
VUG Vanguard Mrngstar GR ETF-Sui Add +6.9% 0.19% +0.02
SCHF Schwab Intl Equity ETF New 0.02% +0.02
DDOG Datadog Inc. Class A New 0.02% +0.02
IJR iShares Core S&P Small-Cap E Add +5.3% 0.19% +0.02
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +10.1% 0.14% +0.02
VOTE TCW Transform 500 ETF Add +3.2% 0.25% +0.02
DFAS Dimensional US Small Cap ETF Add +3.9% 0.25% +0.02
VEU Vanguard Ftse All-World Ex-U Add +0.1% 0.72% +0.02
ABBV Abbvie Inc. Add +10.0% 0.07% +0.02
FNDF Schwab Fndmn Intl LRG Co. ETF Add +1.7% 0.33% +0.02
SCHG Schwab US Large-Cap Growth Add +89.5% 0.03% +0.01
DFNM Dimensional National Muni BD Add +5.6% 0.54% +0.01
HDV iShares Core High Dividend E Add +143.9% 0.02% +0.01
VWO Vanguard Ftse Emerging Marke Add +1.9% 0.18% +0.01
SOXX iShares Semiconductor ETF New 0.01% +0.01
ILCG iShares Morningstar Growth E New 0.01% +0.01
VGIT Vanguard Intermediate-Term T Add +93.9% 0.02% +0.01
PVLA Palvella Therapeutics Inc. New 0.01% +0.01
QAI Nylim HDG MLT-STR TRC ETF-Ui Add +7.0% 0.17% +0.01
SCHA Schwab US Small-Cap ETF New 0.01% +0.01
STRL Sterling Infrastructure Inc. New 0.01% +0.01
AOM iShares Core 40/60 Moderate Add +16.6% 0.07% +0.01
IWD iShares Russell 1000 Value E Add +3.0% 0.23% +0.01
MNA Nylim Merger Arbtrage ETF-Ui Add +7.6% 0.16% +0.01
VEA Vanguard Ftse Developed ETF Add +2.1% 0.25% +0.01
LOW Lowe's Cos Inc. Add +6.4% 0.05% +0.01
XLK SS Technology Select Sector Add +22.2% 0.03% +0.01
VHT Vanguard Health Care ETF New 0.01% +0.01
DFAW Dimensional World Eqty ETF New 0.01% +0.01
BEP Brookfield Renewable Partner New 0.01% +0.01
REZI Resideo Technologies Inc. New 0.01% +0.01
IYW iShares Ustechnology ETF New 0.01% +0.01
ETN Eaton Corp. PLC Add +67.0% 0.01% +0.01
XERS Xeris Biopharma Holdings Inc. New 0.01% +0.01

Options Activity Q2 2025 → Q3 2025
BRK.B Berkshire Hathaway Inc. Class B call Sold out 1,500 $729Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

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