Baker Boyer National Bank

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Baker Boyer National Bank reported 94 stock positions worth $331.2 million. Its top holding was Dimensional US Core Equity 2 (DFAC) at 21.4% of the portfolio, followed by Vanguard Tax-Exempt Bond ETF (VTEB, 17.7%) and Dimensional World Ex US Core (DFAX, 17.0%). Compared with Q3 2025, it opened 14 new positions, added to 43 and reduced 19. The biggest buy was Microsoft (MSFT, shares +255%) and the biggest sale Dimensional US Core Equity 2 (DFAC, shares −1%).

Most Recent 13F
Q2 2026
Location
WALLA WALLA, WA
CIK
0001079398
Portfolio Value
$331.2M (Q4 2025)
SEC Filing
0001079398-26-000002 ↗ filed Feb 3, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $290.4M Q1 2024 Q2 2024: $286.2M Q2 2024 Q3 2024: $298.0M Q3 2024 Q4 2024: $289.5M Q4 2024 Q1 2025: $271.1M Q1 2025 Q2 2025: $290.0M Q2 2025 Q3 2025: $301.0M Q3 2025 Q4 2025: $331.2M $331.2M Q4 2025 Q1 2026: $332.8M Q1 2026 Q2 2026: $364.1M Q2 2026

Holdings 94 stocks · $331.2M
DFAC Dimensional US Core Equity 2 21.36% 1,787,342 $70.8M Reduce -1.2%
VTEB Vanguard Tax-Exempt Bond ETF 17.65% 1,162,771 $58.5M Add +0.3%
DFAX Dimensional World Ex US Core 16.99% 1,719,710 $56.3M Add +1.9%
DFUV Dimensional US Marketwide Va 6.23% 443,276 $20.7M Reduce -2.0%
FBND Fidelity Total Bond ETF 5.48% 393,938 $18.1M Reduce -6.9%
DFIV Dimensional International Va 3.18% 211,322 $10.5M Reduce -0.7%
MSFT Microsoft Corp. 2.92% 20,016 $9.7M Add +254.7%
DFAI Dimensional International Co. 2.26% 196,650 $7.5M Add +7.3%
SPY SS SPDR S&P 500 ETF Trust-US 1.70% 8,259 $5.6M Add +548.8%
AAPL Apple Inc. 1.58% 19,224 $5.2M Add +2.1%
PCAR Paccar Inc. 1.21% 36,506 $4.0M Add +728.0%
VGIT Vanguard Intermediate-Term T 1.15% 63,563 $3.8M Add +10.4%
DFAE Dimensional Emerging Core Eq 0.99% 101,084 $3.3M Add +11.2%
IMOM Alpha Intl Quant Mom ETF 0.98% 84,952 $3.2M Add +2.5%
DFAS Dimensional US Small Cap ETF 0.74% 35,185 $2.5M Add +0.2%
VOO Vanguard S&P 500 ETF 0.70% 3,675 $2.3M Add +0.1%
MTUM iShares MSCI USA Momentum Fa 0.60% 7,993 $2.0M Add +10.6%
BRK.B Berkshire Hathaway Inc. Class B 0.52% 3,448 $1.7M Add +18.4%
VEA Vanguard Ftse Developed ETF 0.51% 27,044 $1.7M Add +1.2%
BRK.A Berkshire Hathaway Inc. Class A 0.46% 2 $1.5M New
VTV Vanguard Mrngstr Val ETF-Aui 0.44% 7,547 $1.4M Add +2.5%
JNJ Johnson & Johnson 0.42% 6,721 $1.4M Reduce -4.8%
VONG Vanguard Russell 1000 Growth 0.41% 11,249 $1.4M No change
IWF iShares Russell 1000 Growth 0.40% 2,810 $1.3M No change
QVAL Alpha Arch US QNT Value ETF 0.37% 25,331 $1.2M Add +1.0%
VONV Vanguard Russell 1000 Value 0.34% 12,379 $1.1M No change
QMOM Alpha US Quant Mom ETF 0.34% 17,193 $1.1M Add +1.2%
EMR Emerson Electric Co. 0.32% 7,950 $1.1M New
GOOG Alphabet Inc. Class C 0.32% 3,354 $1.1M Reduce -1.8%
AVUS Avantis U.S. Equity ETF 0.31% 9,297 $1.0M New
IEMG iShares Core MSCI Emerging 0.31% 15,403 $1.0M Add +5.4%
DE Deere & Co. 0.31% 2,212 $1.0M No change
COST Costco Wholesale Corp. 0.31% 1,178 $1.0M Reduce -34.6%
GOOGL Alphabet Inc. Class A 0.30% 3,124 $978K Add +17.4%
USB US Bancorp 0.29% 18,004 $961K New
MCD McDonald's Corp. 0.28% 3,087 $943K Reduce -0.5%
IVAL Alpha Archi Intl QT Vlu ETF 0.28% 29,400 $925K Add +0.8%
AMZN Amazon.com Inc. 0.27% 3,887 $897K Add +12.6%
XOM Exxon Mobil Corp. 0.27% 7,327 $882K Add +58.4%
META Meta Platforms Inc. Class A 0.26% 1,311 $865K Add +12.2%
HD Home Depot Inc. 0.21% 2,053 $706K Add +1.3%
CAT Caterpillar Inc. 0.20% 1,145 $656K Add +4.8%
MA Mastercard Inc. Class A 0.19% 1,130 $645K Add +3.7%
PG The Procter & Gamble Co. 0.19% 4,454 $638K Reduce -5.5%
VWO Vanguard Ftse Emerging Marke 0.19% 11,530 $620K Add +6.3%
IBDT iShares Ibonds Dec 2028 ETF 0.19% 24,340 $620K Add +0.9%
RTX RTX Corp. 0.19% 3,376 $619K Reduce -12.8%
SO The Southern Co. 0.18% 6,932 $604K Reduce -4.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 2,019 $598K Add +5.4%
BA The Boeing Co. 0.18% 2,715 $589K No change
VTWO Vanguard Russell 2000 ETF 0.17% 5,777 $575K Add +9.9%
TSLA Tesla Inc. 0.16% 1,203 $541K Add +13.0%
UNP Union Pacific Corp. 0.16% 2,338 $541K Add +6.4%
IAU iShares Gold Trust 0.15% 6,293 $511K Add +6.8%
HON Honeywell International Inc. 0.15% 2,595 $506K No change
V Visa Inc. Class A 0.14% 1,357 $476K No change
WM Waste Management Inc. 0.13% 1,989 $437K Add +0.5%
CVX Chevron Corp. 0.12% 2,677 $408K Reduce -35.5%
DUK Duke Energy Corp. 0.12% 3,382 $396K Add +11.2%
ACN Accenture PLC Class A 0.12% 1,462 $392K No change
NVDA Nvidia Corp. 0.12% 2,057 $384K Reduce -32.7%
UNH Unitedhealth Group Inc. 0.11% 1,137 $375K Add +0.1%
AMD Advanced Micro Devices 0.11% 1,725 $369K Add +9.3%
XLK SS Technology Select Sector 0.11% 2,556 $368K No change
DFAU Dimensional US Core Equity M 0.10% 7,339 $343K New
NKE Nike Inc. Class B 0.10% 5,359 $341K Reduce -4.7%
JPM JPMorgan Chase & Co. 0.10% 1,045 $337K Add +8.5%
MRK Merck & Co. Inc. 0.10% 3,090 $325K New
ABBV Abbvie Inc. 0.10% 1,413 $323K Reduce -10.7%
MINT PIMCO Enhanced Short Maturit 0.09% 3,092 $310K New
SYK Stryker Corp. 0.09% 876 $308K No change
WY Weyerhaeuser Co. 0.09% 12,940 $307K New
CMI Cummins Inc. 0.09% 598 $305K No change
INTU Intuit Inc. 0.09% 451 $299K Add +4.9%
ED Consolidated Edison Inc. 0.09% 2,958 $294K No change
DHR Danaher Corp. 0.09% 1,281 $293K No change
BBRE JPM Betabldrs MSCI US REIT filed as J P MORGAN EXCHANGE TRADED F 0.08% 3,026 $280K New
MUB iShares National Muni Bond E 0.08% 2,560 $274K No change
BAM Brookfield Asset Mgmt-A 0.08% 5,200 $272K New
ETN Eaton Corp. PLC 0.08% 802 $255K New
VCRB Vanguard Core Bond ETF 0.08% 3,257 $254K No change
CSCO Cisco Systems Inc. 0.07% 3,217 $248K No change
WMT Walmart Inc. 0.07% 2,224 $248K Reduce -45.1%
LOW Lowe's Cos Inc. 0.07% 1,009 $243K No change
TT Trane Technologies PLC 0.07% 617 $240K Add +14.1%
ADBE Adobe Inc. 0.07% 676 $237K Add +14.8%
ABT Abbott Laboratories 0.07% 1,846 $231K Reduce -5.0%
VXF Vanguard Extended Market ETF 0.07% 1,062 $222K Reduce -0.8%
VTI VG Morningstar TS MKT ETF-US 0.07% 647 $217K New
MO Altria Group Inc. 0.06% 3,660 $211K Reduce -9.8%
FBTC Fidelity Wise Origin Bitcoin 0.06% 2,722 $207K New
XEL Xcel Energy Inc. 0.06% 2,800 $207K No change
CARR Carrier Global Corp. 0.06% 3,881 $205K Add +7.5%
GS Goldman Sachs Group Inc. 0.06% 231 $203K New

Portfolio Sells Q3 2025 → Q4 2025
DFAC Dimensional US Core Equity 2 Reduce -1.2% 21.36% −1.82
FBND Fidelity Total Bond ETF Reduce -6.9% 5.48% −1.02
DFUV Dimensional US Marketwide Va Reduce -2.0% 6.23% −0.48
COST Costco Wholesale Corp. Reduce -34.6% 0.31% −0.25
CVX Chevron Corp. Reduce -35.5% 0.12% −0.09
DFIV Dimensional International Va Reduce -0.7% 3.18% −0.08
NVDA Nvidia Corp. Reduce -32.7% 0.12% −0.07
WMT Walmart Inc. Reduce -45.1% 0.07% −0.06
PG The Procter & Gamble Co. Reduce -5.5% 0.19% −0.05
SO The Southern Co. Reduce -4.5% 0.18% −0.05
MCD McDonald's Corp. Reduce -0.5% 0.28% −0.03
RTX RTX Corp. Reduce -12.8% 0.19% −0.03
NKE Nike Inc. Class B Reduce -4.7% 0.10% −0.03
MO Altria Group Inc. Reduce -9.8% 0.06% −0.03
ABBV Abbvie Inc. Reduce -10.7% 0.10% −0.02
ABT Abbott Laboratories Reduce -5.0% 0.07% −0.02
JNJ Johnson & Johnson Reduce -4.8% 0.42% −0.01
VXF Vanguard Extended Market ETF Reduce -0.8% 0.07% −0.01
GOOG Alphabet Inc. Class C Reduce -1.8% 0.32% +0.04

Portfolio Buys Q3 2025 → Q4 2025
MSFT Microsoft Corp. Add +254.7% 2.92% +1.95
SPY SS SPDR S&P 500 ETF Trust-US Add +548.8% 1.70% +1.42
PCAR Paccar Inc. Add +728.0% 1.21% +1.06
BRK.A Berkshire Hathaway Inc. Class A New 0.46% +0.46
EMR Emerson Electric Co. New 0.32% +0.32
AVUS Avantis U.S. Equity ETF New 0.31% +0.31
USB US Bancorp New 0.29% +0.29
DFAU Dimensional US Core Equity M New 0.10% +0.10
MRK Merck & Co. Inc. New 0.10% +0.10
MINT PIMCO Enhanced Short Maturit New 0.09% +0.09
XOM Exxon Mobil Corp. Add +58.4% 0.27% +0.09
WY Weyerhaeuser Co. New 0.09% +0.09
BBRE JPM Betabldrs MSCI US REIT New 0.08% +0.08
BAM Brookfield Asset Mgmt-A New 0.08% +0.08
GOOGL Alphabet Inc. Class A Add +17.4% 0.30% +0.08
ETN Eaton Corp. PLC New 0.08% +0.08
VTI VG Morningstar TS MKT ETF-US New 0.07% +0.07
FBTC Fidelity Wise Origin Bitcoin New 0.06% +0.06
GS Goldman Sachs Group Inc. New 0.06% +0.06
DFAI Dimensional International Co. Add +7.3% 2.26% +0.05
DFAE Dimensional Emerging Core Eq Add +11.2% 0.99% +0.04
BRK.B Berkshire Hathaway Inc. Class B Add +18.4% 0.52% +0.04
AMD Advanced Micro Devices Add +9.3% 0.11% +0.03
CAT Caterpillar Inc. Add +4.8% 0.20% +0.02
AMZN Amazon.com Inc. Add +12.6% 0.27% +0.02
IAU iShares Gold Trust Add +6.8% 0.15% +0.01
TSLA Tesla Inc. Add +13.0% 0.16% +0.01
VTWO Vanguard Russell 2000 ETF Add +9.9% 0.17% +0.00
ADBE Adobe Inc. Add +14.8% 0.07% +0.00
VGIT Vanguard Intermediate-Term T Add +10.4% 1.15% +0.00
IBM Intl Business Machines Corp. Add +5.4% 0.18% +0.00
JPM JPMorgan Chase & Co. Add +8.5% 0.10% +0.00
TT Trane Technologies PLC Add +14.1% 0.07% −0.00
DUK Duke Energy Corp. Add +11.2% 0.12% −0.01
INTU Intuit Inc. Add +4.9% 0.09% −0.01
IEMG iShares Core MSCI Emerging Add +5.4% 0.31% −0.01
VWO Vanguard Ftse Emerging Marke Add +6.3% 0.19% −0.01
UNP Union Pacific Corp. Add +6.4% 0.16% −0.01
CARR Carrier Global Corp. Add +7.5% 0.06% −0.01
MA Mastercard Inc. Class A Add +3.7% 0.19% −0.01
MTUM iShares MSCI USA Momentum Fa Add +10.6% 0.60% −0.01
IVAL Alpha Archi Intl QT Vlu ETF Add +0.8% 0.28% −0.01
WM Waste Management Inc. Add +0.5% 0.13% −0.01
AAPL Apple Inc. Add +2.1% 1.58% −0.01
QVAL Alpha Arch US QNT Value ETF Add +1.0% 0.37% −0.02
UNH Unitedhealth Group Inc. Add +0.1% 0.11% −0.02
IBDT iShares Ibonds Dec 2028 ETF Add +0.9% 0.19% −0.02
VTV Vanguard Mrngstr Val ETF-Aui Add +2.5% 0.44% −0.02
VEA Vanguard Ftse Developed ETF Add +1.2% 0.51% −0.02
META Meta Platforms Inc. Class A Add +12.2% 0.26% −0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 94$364.1MDFAC, DFAX, VTEB, DFUV, FBND
Q1 2026 91$332.8MDFAC, DFAX, VTEB, DFUV, FBND
Q4 2025 94$331.2MDFAC, VTEB, DFAX, DFUV, FBND
Q3 2025 80$301.0MDFAC, VTEB, DFAX, DFUV, FBND
Q2 2025 78$290.0MDFAC, VTEB, DFAX, DFUV, FBND
Q1 2025 73$271.1MDFAC, VTEB, DFAX, DFUV, FBND
Q4 2024 79$289.5MVTEB, DFAC, DFAX, DFUV, FBND
Q3 2024 78$298.0MVTEB, DFAC, DFAX, DFUV, FBND
Q2 2024 74$286.2MVTEB, DFAC, DFAX, DFUV, FBND
Q1 2024 80$290.4MVTEB, DFAC, DFAX, DFUV, FBND