Asset Dedication, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 20, 2025), Asset Dedication, LLC reported 1,138 stock positions worth $1.5 billion. Its top holding was Dimensional US Core Equity 2 (DFAC) at 11.0% of the portfolio, followed by Dimensional US Target Value (DFAT, 9.8%) and Dimensional Emrg MRKT Val (DFEV, 5.6%). Compared with Q2 2025, it opened 78 new positions, sold out of 116, added to 240 and reduced 316. The biggest buy was Dimensional US Target Value (DFAT, shares +5%) and the biggest sale Dimensional World Ex US Core (DFAX, shares −4%).

Most Recent 13F
Q2 2026
Location
SAN FRANCISCO, CA
CIK
0001475896
Portfolio Value
$1.5B (Q3 2025)
SEC Filing
0001475896-25-000006 ↗ filed Nov 20, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.4B Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.4B Q2 2025 Q3 2025: $1.5B $1.5B Q3 2025 Q4 2025: $1.5B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.6B Q2 2026

Holdings 1,138 stocks · $1.5B

DFAC Dimensional US Core Equity 2 11.05% 4,262,487 $164.4M Add +1.8%
DFAT Dimensional US Target Value 9.83% 2,513,072 $146.3M Add +4.9%
DFEV Dimensional Emrg MRKT Val 5.57% 2,598,015 $82.9M Add +1.6%
DFEM Dimensional Emrg MRKT Core 5.55% 2,576,147 $82.6M Add +3.4%
DFIC Dimensional International Co. 5.24% 2,377,033 $77.9M Add +5.5%
DFAX Dimensional World Ex US Core 4.30% 2,039,661 $64.0M Reduce -3.7%
DFUS Dimensional US Eq MKT ETF 3.40% 698,108 $50.6M Add +4.1%
DISV Dimensional International SM 3.00% 1,252,031 $44.7M Reduce -0.7%
BSCP Invesco Bulletshares 2025 CB 1.92% 1,381,651 $28.6M Add +0.9%
BSCQ Invesco Bulletshares 2026 CB 1.77% 1,349,331 $26.4M Add +3.3%
AAPL Apple Inc. 1.67% 97,457 $24.8M Reduce -1.3%
NVDA Nvidia Corp. 1.37% 109,625 $20.5M Reduce -4.5%
MDYV SS SPDR S&P 400 MC Val ETF 1.31% 234,133 $19.5M Add +5.2%
MSFT Microsoft Corp. 1.30% 37,459 $19.4M Reduce -2.4%
BSCR Invesco Bulletshares 2027 CB 1.05% 792,627 $15.6M Add +6.0%
ITOT iShares Core S&P Total U.S. 0.88% 90,188 $13.1M Reduce -2.6%
BSCS Invesco Bulletshares 2028 CB 0.82% 594,095 $12.2M Add +4.8%
AVGO Broadcom Inc. 0.80% 35,937 $11.9M Reduce -3.1%
SCHX Schwab US Large-Cap ETF 0.72% 405,836 $10.7M Reduce -2.3%
BSCT Invesco Bulletshares 2029 CB 0.70% 552,493 $10.4M Add +7.5%
SLYV SS SPDR S&P 600 SC Val ETF 0.69% 116,589 $10.3M Reduce -1.9%
VTI VG Morningstar TS MKT ETF-US 0.69% 31,280 $10.3M Add +0.9%
AMZN Amazon.com Inc. 0.69% 46,434 $10.2M Reduce -2.8%
JPM JPMorgan Chase & Co. 0.67% 31,641 $10.0M Reduce -8.6%
IBTF iShares Ibonds Dec 2025 Term 0.66% 418,052 $9.8M Add +27.2%
NFLX Netflix Inc. 0.59% 7,382 $8.9M Reduce -1.8%
IJS iShares S&P Small-Cap 600 Va 0.59% 79,526 $8.8M Reduce -0.4%
BSCU Invesco Bulletshares 2030 CB 0.57% 502,991 $8.5M Add +9.5%
ORCL Oracle Corp. 0.57% 30,217 $8.5M Reduce -4.5%
WMT Walmart Inc. 0.56% 80,214 $8.3M Reduce -1.1%
DGRO iShares Core Dividend Growth 0.54% 117,633 $8.0M Reduce -0.6%
AXP American Express Co. 0.53% 23,754 $7.9M Reduce -4.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.51% 11,455 $7.6M Add +2.3%
FNDE Schwab Fndmntl Em MRK Eq ETF 0.50% 207,352 $7.5M Reduce -1.5%
IEFA iShares Core MSCI Eafe ETF 0.48% 81,294 $7.1M Reduce -2.5%
SCHA Schwab US Small-Cap ETF 0.47% 252,419 $7.0M Reduce -1.4%
IJJ iShares S&P Mid-Cap 400 Valu 0.45% 52,192 $6.8M Add +6.1%
BSCV Invesco Bulletshares 2031 CB 0.45% 402,238 $6.7M Add +11.5%
META Meta Platforms Inc. Class A 0.45% 9,057 $6.7M Reduce -2.0%
CAT Caterpillar Inc. 0.43% 13,544 $6.5M Reduce -1.9%
GOOG Alphabet Inc. Class C 0.43% 26,275 $6.4M Reduce -5.4%
V Visa Inc. Class A 0.42% 18,428 $6.3M Reduce -6.7%
VOO Vanguard S&P 500 ETF 0.40% 9,683 $5.9M Add +19.7%
GS Goldman Sachs Group Inc. 0.38% 7,180 $5.7M Reduce -1.6%
XOM Exxon Mobil Corp. 0.37% 49,355 $5.6M Add +4.5%
IEMG iShares Core MSCI Emerging 0.35% 80,039 $5.3M Reduce -1.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.34% 17,902 $5.1M Add +7.5%
COST Costco Wholesale Corp. 0.34% 5,438 $5.0M Reduce -10.1%
BSCW Invesco Bulletshares 2032 CB 0.32% 231,226 $4.8M Add +20.9%
HD Home Depot Inc. 0.31% 11,358 $4.6M Reduce -6.8%
DFSI Dimensional Int Sus COR1 ETF 0.30% 110,038 $4.5M Reduce -2.0%
GOOGL Alphabet Inc. Class A 0.28% 17,325 $4.2M Reduce -2.1%
TRV The Travelers Cos Inc. 0.28% 14,717 $4.1M Reduce -5.8%
SPEM State Street SP PTF Em ETF 0.27% 86,876 $4.1M Reduce -2.5%
SCHG Schwab US Large-Cap Growth 0.27% 124,739 $4.0M Reduce -7.3%
IDEV iShares Core MSCI Dev MKTS 0.26% 48,853 $3.9M Add +36.0%
MCD McDonald's Corp. 0.25% 12,465 $3.8M Reduce -4.8%
DFSU Dimensional US Sus CORE1 ETF 0.24% 85,682 $3.6M Add +5.5%
RTX RTX Corp. 0.24% 21,509 $3.6M Reduce -0.9%
KO The Coca-Cola Co. 0.24% 53,315 $3.5M Add +3.3%
BSMQ Invesco Bulletshares 2026 MB 0.23% 147,998 $3.5M Add +12.5%
IVV iShares Core S&P 500 ETF 0.23% 5,126 $3.4M Reduce -10.4%
DFSE Dimensional Em Sus CORE1 ETF 0.23% 83,062 $3.4M Add +3.7%
SCHB Schwab US Broad Market ETF 0.22% 128,905 $3.3M Reduce -4.9%
LLY Eli Lilly & Co. 0.22% 4,332 $3.3M Reduce -8.6%
BSCX Invesco Bulletshares 2033 CB 0.22% 153,258 $3.3M Add +19.2%
QQQ Invesco QQQ Trust Series 1 0.22% 5,428 $3.3M Add +17.4%
MA Mastercard Inc. Class A 0.22% 5,725 $3.3M Reduce -0.6%
CSCO Cisco Systems Inc. 0.22% 47,583 $3.3M Reduce -2.6%
PG The Procter & Gamble Co. 0.22% 21,075 $3.2M Reduce -1.8%
JNJ Johnson & Johnson 0.22% 17,410 $3.2M Add +24.9%
AMGN Amgen Inc. 0.22% 11,433 $3.2M Reduce -1.6%
BSMP Invesco Bulletshares 2025 MB 0.21% 126,176 $3.1M Add +8.3%
MMM 3M Co. 0.20% 18,749 $2.9M Reduce -0.3%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.19% 6,098 $2.8M Reduce -24.3%
NOW ServiceNow Inc. 0.19% 3,040 $2.8M Add +5.1%
UNH Unitedhealth Group Inc. 0.19% 8,071 $2.8M Reduce -11.7%
BSMR Invesco Bulletshares 2027 MB 0.17% 108,639 $2.6M Add +1.6%
ABBV Abbvie Inc. 0.17% 11,100 $2.6M Reduce -5.8%
IWF iShares Russell 1000 Growth 0.17% 5,476 $2.6M Reduce -0.4%
VTV Vanguard Mrngstr Val ETF-Aui 0.17% 13,659 $2.5M Reduce -3.6%
VWO Vanguard Ftse Emerging Marke 0.17% 46,599 $2.5M Add +11.4%
IVE iShares S&P 500 Value ETF 0.17% 12,153 $2.5M Add +130.4%
VEA Vanguard Ftse Developed ETF 0.17% 41,593 $2.5M Reduce -11.2%
SUSA iShares ESG Optimized MSCI U 0.17% 18,260 $2.5M Reduce -16.9%
IJT iShares S&P Small-Cap 600 GR 0.17% 17,408 $2.5M Add +0.9%
VUG Vanguard Mrngstar GR ETF-Sui 0.16% 5,068 $2.4M Add +4.6%
TMUS T-Mobile US Inc. 0.16% 10,137 $2.4M Reduce -0.9%
BSMS Invesco Bulletshares 2028 MB 0.16% 99,541 $2.3M Reduce -0.8%
CVX Chevron Corp. 0.16% 14,964 $2.3M Add +1.6%
AVUV Avantis US Small Cap Value 0.15% 22,976 $2.3M Reduce -5.5%
NKE Nike Inc. Class B 0.15% 31,814 $2.2M Add +7.0%
SCHV Schwab US Large-Cap Value 0.14% 72,489 $2.1M Reduce -0.9%
HON Honeywell International Inc. 0.14% 9,946 $2.1M Reduce -4.8%
IBTH iShares Ibonds Dec 2027 Term 0.14% 92,154 $2.1M Add +71.7%
IWB iShares Russell 1000 ETF 0.14% 5,516 $2.0M Reduce -2.1%
TXN Texas Instruments Inc. 0.13% 10,862 $2.0M Reduce -4.1%
LOW Lowe's Cos Inc. 0.13% 7,904 $2.0M Reduce -1.5%
ETN Eaton Corp. PLC 0.13% 5,254 $2.0M Reduce -1.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.13% 17,038 $2.0M Reduce -10.7%

Show all 1,138 holdings

Other holdings (3): bonds, preferreds, convertibles and warrants · $7K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 3$4KNo change
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 136$3KAdd +4433.3%
COHEN & STEERS INFRASTRU RIGHT 10/16/2025 562$44No change
Lines left out (1) · $32 — a value with no share or principal amount
SecurityClassSharesValue
SWKS Skyworks Solutions Inc. COM0$32

Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.

Total filed on the 13F, all lines: $1.5B.

Portfolio Sells Q2 2025 → Q3 2025

DFAX Dimensional World Ex US Core Reduce -3.7% 4.30% −0.22
NFLX Netflix Inc. Reduce -1.8% 0.59% −0.14
COST Costco Wholesale Corp. Reduce -10.1% 0.34% −0.10
V Visa Inc. Class A Reduce -6.7% 0.42% −0.09
MSFT Microsoft Corp. Reduce -2.4% 1.30% −0.08
AMZN Amazon.com Inc. Reduce -2.8% 0.69% −0.08
DIA SS SPDR Dow Jones Indus Avg Reduce -24.3% 0.19% −0.07
JPM JPMorgan Chase & Co. Reduce -8.6% 0.67% −0.06
BRK.A Berkshire Hathaway Inc. Class A Reduce -50.0% 0.05% −0.06
META Meta Platforms Inc. Class A Reduce -2.0% 0.45% −0.05
LLY Eli Lilly & Co. Reduce -8.6% 0.22% −0.05
AXP American Express Co. Reduce -4.5% 0.53% −0.05
DIS The Walt Disney Co. Reduce -10.7% 0.13% −0.04
ACN Accenture PLC Class A Reduce -57.1% 0.02% −0.04
TXN Texas Instruments Inc. Reduce -4.1% 0.13% −0.04
HON Honeywell International Inc. Reduce -4.8% 0.14% −0.04
SUSA iShares ESG Optimized MSCI U Reduce -16.9% 0.17% −0.04
USRT iShares Core US REIT ETF Reduce -76.8% 0.01% −0.03
ADBE Adobe Inc. Reduce -11.3% 0.09% −0.03
PG The Procter & Gamble Co. Reduce -1.8% 0.22% −0.03
CRM Salesforce Inc. Reduce -7.4% 0.09% −0.03
IEFA iShares Core MSCI Eafe ETF Reduce -2.5% 0.48% −0.03
TRV The Travelers Cos Inc. Reduce -5.8% 0.28% −0.03
CSCO Cisco Systems Inc. Reduce -2.6% 0.22% −0.03
IVV iShares Core S&P 500 ETF Reduce -10.4% 0.23% −0.03
VEA Vanguard Ftse Developed ETF Reduce -11.2% 0.17% −0.03
INTU Intuit Inc. Reduce -1.7% 0.10% −0.03
ITOT iShares Core S&P Total U.S. Reduce -2.6% 0.88% −0.03
CI The Cigna Group Reduce -27.0% 0.04% −0.02
WFC Wells Fargo & Co. Reduce -44.2% 0.03% −0.02
CMCSA Comcast Corp. Class A Reduce -17.4% 0.05% −0.02
CMG Chipotle Mexican Grill Inc. Reduce -14.2% 0.03% −0.02
MCD McDonald's Corp. Reduce -4.8% 0.25% −0.02
CL Colgate-Palmolive Co. Reduce -18.2% 0.04% −0.02
WMT Walmart Inc. Reduce -1.1% 0.56% −0.02
TGT Target Corp. Reduce -56.0% 0.01% −0.02
UNH Unitedhealth Group Inc. Reduce -11.7% 0.19% −0.02
T AT&T Inc. Reduce -6.0% 0.11% −0.02
AMT American Tower Corp. Reduce -82.4% 0.00% −0.02
AMGN Amgen Inc. Reduce -1.6% 0.22% −0.02
SCHX Schwab US Large-Cap ETF Reduce -2.3% 0.72% −0.02
DFSI Dimensional Int Sus COR1 ETF Reduce -2.0% 0.30% −0.02
EMXC iShares MSCI Emr MRK Ex Chna Reduce -14.8% 0.10% −0.02
SBUX Starbucks Corp. Reduce -5.4% 0.08% −0.02
GSK GSK PLC-Spon ADR Reduce -87.7% 0.00% −0.02
NBTB N B T Bancorp Inc. Reduce -83.1% 0.00% −0.02
SCHG Schwab US Large-Cap Growth Reduce -7.3% 0.27% −0.02
BA The Boeing Co. Reduce -13.8% 0.08% −0.02
ELV Elevance Health Inc. Reduce -0.1% 0.06% −0.02
BLK BlackRock Inc. Reduce -18.3% 0.09% −0.02

Portfolio Buys Q2 2025 → Q3 2025

DFAT Dimensional US Target Value Add +4.9% 9.83% +0.44
DFEM Dimensional Emrg MRKT Core Add +3.4% 5.55% +0.18
DFAC Dimensional US Core Equity 2 Add +1.8% 11.05% +0.15
DFIC Dimensional International Co. Add +5.5% 5.24% +0.15
DFUS Dimensional US Eq MKT ETF Add +4.1% 3.40% +0.14
IBTF iShares Ibonds Dec 2025 Term Add +27.2% 0.66% +0.10
IVE iShares S&P 500 Value ETF Add +130.4% 0.17% +0.09
IDEV iShares Core MSCI Dev MKTS Add +36.0% 0.26% +0.06
VOO Vanguard S&P 500 ETF Add +19.7% 0.40% +0.06
JNJ Johnson & Johnson Add +24.9% 0.22% +0.06
IBTK iShares Ibonds Dec 2030 Trea Add +1179.4% 0.06% +0.05
IBTH iShares Ibonds Dec 2027 Term Add +71.7% 0.14% +0.05
IBTI iShares Ibonds Dec 2028 Term Add +284.2% 0.07% +0.05
IBTG iShares Ibonds Dec 2026 Term Add +108.5% 0.10% +0.05
IBTJ iShares Ibonds Dec 2029 Term Add +166.4% 0.08% +0.05
IBTL iShares Ibonds Dec 2031 Term Add +3226.9% 0.05% +0.05
BSCW Invesco Bulletshares 2032 CB Add +20.9% 0.32% +0.04
QQQ Invesco QQQ Trust Series 1 Add +17.4% 0.22% +0.03
BSCY Invesco Bulletshares 2034 CB Add +110.8% 0.06% +0.03
MDYV SS SPDR S&P 400 MC Val ETF Add +5.2% 1.31% +0.03
FBTC Fidelity Wise Origin Bitcoin Add +192.2% 0.04% +0.03
BSCX Invesco Bulletshares 2033 CB Add +19.2% 0.22% +0.02
VWO Vanguard Ftse Emerging Marke Add +11.4% 0.17% +0.02
BSCV Invesco Bulletshares 2031 CB Add +11.5% 0.45% +0.02
MS Morgan Stanley Add +18.3% 0.09% +0.02
MO Altria Group Inc. Add +413.1% 0.02% +0.02
HUM Humana Inc. Add +454.1% 0.02% +0.02
O Realty Income Corp. Add +5343.6% 0.02% +0.02
VSS Vanguard Ftse All Wo X-US SC Add +25.2% 0.09% +0.02
PRU Prudential Financial Inc. Add +481.9% 0.02% +0.02
NOC Northrop Grumman Corp. Add +10.2% 0.08% +0.02
PNC PNC Financial Services Group Add +28.2% 0.07% +0.01
IYW iShares Ustechnology ETF Add +28.2% 0.05% +0.01
IJJ iShares S&P Mid-Cap 400 Valu Add +6.1% 0.45% +0.01
VSGX Vanguard ESG Intl Stock ETF Add +58.3% 0.04% +0.01
DFSU Dimensional US Sus CORE1 ETF Add +5.5% 0.24% +0.01
FNDX Schwab Fndmntl US LRG Co. ETF Add +283.5% 0.02% +0.01
VGT Vanguard Info Tech ETF Add +113.4% 0.02% +0.01
PEG Public Service Enterprise GP Add +87.2% 0.03% +0.01
BSCU Invesco Bulletshares 2030 CB Add +9.5% 0.57% +0.01
ES Eversource Energy Add +97.1% 0.02% +0.01
VEU Vanguard Ftse All-World Ex-U Add +15.7% 0.09% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +2.3% 0.51% +0.01
BSMQ Invesco Bulletshares 2026 MB Add +12.5% 0.23% +0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +4.6% 0.16% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +13.9% 0.07% +0.01
FNDA Schwab Fndmntl US SM Co. ETF Add +10.9% 0.08% +0.01
GILD Gilead Sciences Inc. Add +16.2% 0.12% +0.01
PAGP Plains GP Holdings LP Add +172.5% 0.01% +0.01
DFSE Dimensional Em Sus CORE1 ETF Add +3.7% 0.23% +0.01

Notes & Other Activity Q2 2025 → Q3 2025

OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Add +4433.3% 136 $3K
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF Sold out 4 $494before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1,238$1.6BDFAC, DFAT, DFEV, DFEM, DFIC
Q1 2026 1,111$1.4BDFAC, DFAT, DFEV, DFEM, DFIC
Q4 2025 1,121$1.5BDFAC, DFAT, DFEV, DFIC, DFEM
Q3 2025 1,138$1.5BDFAC, DFAT, DFEV, DFEM, DFIC
Q2 2025 1,176$1.4BDFAC, DFAT, DFEV, DFEM, DFIC
Q1 2025 1,127$1.2BDFAC, DFAT, DFEV, DFEM, DFIC
Q4 2024 1,091$1.3BDFAC, DFAT, DFEV, DFEM, DFAX
Q3 2024 1,143$1.5BDFAC, DFAT, DFAX, DFEV, DFEM
Q2 2024 1,190$1.4BDFAC, DFAT, DFAX, DFEV, DFEM
Q1 2024 1,019$1.3BDFAC, DFAT, DFAX, DFEV, DFEM