Bedel Financial Consulting, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Bedel Financial Consulting, Inc. reported 273 stock positions worth $732.3 million. Its top holding was Eli Lilly (LLY) at 35.0% of the portfolio, followed by Dimensional International (DFAI, 6.6%) and Vanguard Tax-Exempt Bond ETF (VTEB, 4.3%). Compared with Q1 2025, it opened 16 new positions, sold out of 3, added to 77 and reduced 79. The biggest buy was a new position in Vanguard SH Term Tax-Ex Bond (VTES) and the biggest sale Vanguard Tax-Exempt Bond ETF (VTEB, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- INDIANAPOLIS, IN
- CIK
- 0001730511
- Portfolio Value
- $732.3M (Q2 2025)
- SEC Filing
- 0001765380-25-000339 ↗ filed Aug 12, 2025
Holdings Value
Holdings 273 stocks · $732.3M
| LLY Eli Lilly & Co. | 34.99% | 328,690 | $256.2M | Add +0.0% |
| DFAI Dimensional International Co. | 6.63% | 1,404,967 | $48.6M | Add +2.0% |
| VTEB Vanguard Tax-Exempt Bond ETF | 4.33% | 646,226 | $31.7M | Reduce -1.8% |
| DFAE Dimensional Emerging Core Eq | 2.31% | 583,847 | $16.9M | Reduce -0.3% |
| MSFT Microsoft Corp. | 2.27% | 33,452 | $16.6M | Add +0.1% |
| AAPL Apple Inc. | 2.25% | 80,249 | $16.5M | Reduce -0.8% |
| EFG iShares MSCI Eafe Growth ETF | 1.85% | 120,993 | $13.6M | Add +0.4% |
| IMCG iShares Morningstar Mid-Cap | 1.66% | 151,145 | $12.1M | Reduce 0.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.64% | 19,488 | $12.0M | Reduce -0.1% |
| CGGR Cap Group Growth Equity | 1.55% | 278,912 | $11.3M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 1.23% | 30,980 | $9.0M | Reduce -0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.22% | 18,465 | $9.0M | Add +1.3% |
| PAPR Innovator U.S. Equity Power | 1.21% | 237,717 | $8.9M | Reduce -0.2% |
| TOTL SS Doubleline TR Tact ETF | 1.18% | 215,515 | $8.6M | Add +0.3% |
| IVV iShares Core S&P 500 ETF | 0.93% | 10,915 | $6.8M | Add +0.5% |
| IMCV iShares Morningstar Mid-Cap | 0.79% | 75,666 | $5.7M | Add +1.1% |
| FYC First Trust Small Cap Growth | 0.77% | 71,129 | $5.7M | Add +0.0% |
| PFFV Global X Variable Rate Pref | 0.70% | 226,094 | $5.2M | Reduce -0.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.70% | 7 | $5.1M | No change |
| FLV American Century Focused Lar | 0.69% | 72,790 | $5.1M | Add +4.4% |
| ISCF iShares International Small | 0.65% | 123,178 | $4.8M | Reduce -0.6% |
| COWZ Pacer US Cash Cows 100 ETF | 0.60% | 80,327 | $4.4M | Reduce -3.5% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.60% | 55,405 | $4.4M | Add +0.6% |
| IMCB iShares Morningstar Mid-Cap | 0.52% | 47,512 | $3.8M | Add +2.2% |
| GOOGL Alphabet Inc. Class A | 0.51% | 21,082 | $3.7M | Add +0.0% |
| NVDA Nvidia Corp. | 0.50% | 23,186 | $3.7M | Add +3.6% |
| DFIV Dimensional International Va | 0.50% | 85,441 | $3.7M | Add +0.1% |
| QUAL iShares MSCI USA Quality Fac | 0.48% | 19,172 | $3.5M | Reduce -1.9% |
| ORCL Oracle Corp. | 0.46% | 15,498 | $3.4M | Reduce -0.3% |
| IWR iShares Russell Mid-Cap ETF | 0.44% | 35,209 | $3.2M | Add +1.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 10,624 | $3.2M | Add +3.5% |
| AMZN Amazon.com Inc. | 0.42% | 13,957 | $3.1M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 0.40% | 16,605 | $2.9M | Reduce -0.0% |
| DFAT Dimensional US Target Value | 0.37% | 50,235 | $2.7M | Add +7.5% |
| QGRO American Century US Quality | 0.36% | 24,485 | $2.7M | Add +1.5% |
| IJUL Innovator International Deve | 0.36% | 81,834 | $2.6M | No change |
| IWM iShares Russell 2000 ETF | 0.35% | 12,027 | $2.6M | Reduce -5.0% |
| VNLA Janus Henderson Short Durati | 0.35% | 52,280 | $2.6M | Reduce -1.8% |
| WMT Walmart Inc. | 0.35% | 25,865 | $2.5M | Reduce -0.2% |
| CMI Cummins Inc. | 0.32% | 7,158 | $2.3M | Add +7.9% |
| ABBV Abbvie Inc. | 0.32% | 12,567 | $2.3M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.32% | 21,554 | $2.3M | Reduce -0.4% |
| EFA iShares MSCI Eafe ETF | 0.30% | 24,936 | $2.2M | Add +0.5% |
| VOO Vanguard S&P 500 ETF | 0.30% | 3,877 | $2.2M | Add +19.4% |
| META Meta Platforms Inc. Class A | 0.29% | 2,922 | $2.2M | Reduce -0.5% |
| JNJ Johnson & Johnson | 0.29% | 13,878 | $2.1M | Reduce -5.9% |
| IJH iShares Core S&P Midcap ETF | 0.29% | 34,007 | $2.1M | Reduce -1.1% |
| GSPY Gotham Enhanced 500 ETF | 0.29% | 62,139 | $2.1M | Reduce -0.4% |
| CSCO Cisco Systems Inc. | 0.28% | 29,990 | $2.1M | Reduce -1.9% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.28% | 20,540 | $2.1M | New |
| HD Home Depot Inc. | 0.28% | 5,537 | $2.0M | Add +0.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.27% | 4,574 | $2.0M | Reduce -0.1% |
| MCD McDonald's Corp. | 0.27% | 6,672 | $1.9M | Reduce -0.4% |
| FNX First Trust Mid Cap Core Alp | 0.27% | 16,900 | $1.9M | No change |
| PG The Procter & Gamble Co. | 0.25% | 11,692 | $1.9M | Reduce -4.8% |
| IWF iShares Russell 1000 Growth | 0.25% | 4,305 | $1.8M | Add +2.6% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.24% | 29,203 | $1.8M | Reduce -0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 14,140 | $1.8M | No change |
| ISRG Intuitive Surgical Inc. | 0.24% | 3,216 | $1.7M | Reduce -1.1% |
| AMAT Applied Materials Inc. | 0.23% | 9,276 | $1.7M | Reduce -4.5% |
| POCT Innovator U.S. Equity Power | 0.23% | 40,086 | $1.7M | No change |
| PEP Pepsico Inc. | 0.22% | 12,251 | $1.6M | Add +0.0% |
| KO The Coca-Cola Co. | 0.22% | 22,672 | $1.6M | Reduce -0.5% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.21% | 39,302 | $1.6M | Reduce -10.2% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.20% | 35,152 | $1.5M | Add +4.0% |
| GLD SPDR Gold Shares | 0.20% | 4,859 | $1.5M | No change |
| IWS iShares Russell Mid-Cap Valu | 0.20% | 11,007 | $1.5M | Add +0.1% |
| BUFB Innovator Ladd Allo Buff ETF | 0.20% | 42,865 | $1.5M | Reduce -2.0% |
| ADP Automatic Data Processing | 0.20% | 4,670 | $1.4M | No change |
| TCHP T Rowe Price Blue Chip Growt | 0.19% | 31,295 | $1.4M | Add +3.4% |
| HON Honeywell International Inc. | 0.19% | 6,092 | $1.4M | No change |
| BSX Boston Scientific Corp. | 0.19% | 13,053 | $1.4M | No change |
| MINT PIMCO Enhanced Short Maturit | 0.19% | 13,887 | $1.4M | Reduce -0.7% |
| FBTC Fidelity Wise Origin Bitcoin | 0.19% | 14,736 | $1.4M | Add +2.3% |
| AXP American Express Co. | 0.19% | 4,340 | $1.4M | Add +0.1% |
| UOCT Innovator U.S. Equity Ultra | 0.19% | 37,124 | $1.4M | Reduce -1.1% |
| FDN First Trust DJ Internet Ind | 0.18% | 4,875 | $1.3M | No change |
| ORLY O'reilly Automotive Inc. | 0.18% | 14,550 | $1.3M | No change |
| HBAN Huntington Bancshares Inc. | 0.17% | 76,444 | $1.3M | No change |
| LOW Lowe's Cos Inc. | 0.17% | 5,549 | $1.2M | Add +0.1% |
| VXUS Vanguard Total Intl Stock | 0.17% | 17,668 | $1.2M | Add +2.8% |
| CVX Chevron Corp. | 0.17% | 8,520 | $1.2M | Add +0.1% |
| SPG Simon Property Group Inc. | 0.17% | 7,558 | $1.2M | No change |
| PJUL Innovator U.S. Equity Power | 0.17% | 27,641 | $1.2M | Reduce -8.4% |
| HELO JPMorgan Hedged Equity ETF | 0.16% | 19,063 | $1.2M | Reduce -1.9% |
| TSLA Tesla Inc. | 0.16% | 3,593 | $1.1M | Reduce -7.1% |
| DFAS Dimensional US Small Cap ETF | 0.15% | 17,456 | $1.1M | Add +0.5% |
| COST Costco Wholesale Corp. | 0.15% | 1,100 | $1.1M | Reduce -3.4% |
| PLTR Palantir Technologies Inc. Class A | 0.14% | 7,777 | $1.1M | No change |
| V Visa Inc. Class A | 0.14% | 2,901 | $1.0M | Add +1.8% |
| PM Philip Morris International | 0.14% | 5,560 | $1.0M | No change |
| IWP iShares Russell Mid-Cap Grow | 0.14% | 7,197 | $998K | Reduce -1.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.14% | 5,646 | $998K | Add +0.2% |
| PSEP Innovator U.S. Equity Power | 0.13% | 24,067 | $984K | No change |
| EXLS Exlservice Holdings Inc. | 0.13% | 21,965 | $962K | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.13% | 3,933 | $932K | Reduce -16.0% |
| PJAN Innovator U.S. Equity Power | 0.13% | 20,926 | $922K | Reduce -0.3% |
| PNOV Innovator U.S. Equity Power | 0.13% | 23,250 | $919K | No change |
| AVGO Broadcom Inc. | 0.12% | 3,307 | $912K | Reduce -3.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.12% | 3,021 | $890K | Add +0.1% |
Options reported separately and not counted above: LLY puts ($814K).
Portfolio Sells Q1 2025 → Q2 2025
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -1.8% | 4.33% | −0.30 |
| AAPL Apple Inc. | Reduce -0.8% | 2.25% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -36.6% | 0.05% | −0.05 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.05 |
| PFFV Global X Variable Rate Pref | Reduce -0.3% | 0.70% | −0.05 |
| MCD McDonald's Corp. | Reduce -0.4% | 0.27% | −0.04 |
| JNJ Johnson & Johnson | Reduce -5.9% | 0.29% | −0.04 |
| PJUN Innovator U.S. Equity Power | Sold out | 0.00% | −0.03 |
| UMAY Innovator U.S. Equity Ultra | Sold out | 0.00% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -4.8% | 0.25% | −0.03 |
| VNLA Janus Henderson Short Durati | Reduce -1.8% | 0.35% | −0.02 |
| WMT Walmart Inc. | Reduce -0.2% | 0.35% | −0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -16.0% | 0.13% | −0.02 |
| MO Altria Group Inc. | Reduce -12.5% | 0.08% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -3.4% | 0.15% | −0.02 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -10.2% | 0.21% | −0.02 |
| INTC Intel Corp. | Reduce -20.4% | 0.09% | −0.02 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -3.5% | 0.60% | −0.02 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.22% | −0.02 |
| MINT PIMCO Enhanced Short Maturit | Reduce -0.7% | 0.19% | −0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -1.1% | 0.24% | −0.01 |
| PJUL Innovator U.S. Equity Power | Reduce -8.4% | 0.17% | −0.01 |
| BSTP Innovator Buff Su Strat ETF | Reduce -16.0% | 0.05% | −0.01 |
| XOM Exxon Mobil Corp. | Reduce -0.4% | 0.32% | −0.01 |
| KMB Kimberly-Clark Corp. | Reduce -1.1% | 0.08% | −0.01 |
| BUFF Innovator Laddered Allocatio | Reduce -20.0% | 0.03% | −0.01 |
| TJX TJX Companies Inc. | Reduce -1.3% | 0.06% | −0.01 |
| SYK Stryker Corp. | Reduce -5.5% | 0.09% | −0.01 |
| PAPR Innovator U.S. Equity Power | Reduce -0.2% | 1.21% | −0.01 |
| ITW Illinois Tool Works | Reduce -2.7% | 0.10% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -1.4% | 0.07% | −0.00 |
| MA Mastercard Inc. Class A | Reduce -1.6% | 0.07% | −0.00 |
| ADBE Adobe Inc. | Reduce -1.1% | 0.08% | −0.00 |
| HELO JPMorgan Hedged Equity ETF | Reduce -1.9% | 0.16% | −0.00 |
| WFC Wells Fargo & Co. | Reduce -7.0% | 0.09% | −0.00 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.5% | 0.04% | −0.00 |
| IWM iShares Russell 2000 ETF | Reduce -5.0% | 0.35% | −0.00 |
| T AT&T Inc. | Reduce -1.6% | 0.06% | −0.00 |
| CB Chubb Ltd. | Reduce -3.1% | 0.03% | −0.00 |
| SCHD Schwab US DVD Equity ETF | Reduce -1.8% | 0.07% | −0.00 |
| TPIF Timothy Plan Intl ETF | Reduce -5.9% | 0.03% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -4.8% | 0.03% | −0.00 |
| ABT Abbott Laboratories | Reduce -1.7% | 0.04% | −0.00 |
| NEE Nextera Energy Inc. | Reduce -0.7% | 0.11% | −0.00 |
| DHR Danaher Corp. | Reduce -1.2% | 0.06% | −0.00 |
| WWJD Inspire International ETF | Reduce -2.5% | 0.03% | −0.00 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -0.1% | 0.24% | −0.00 |
| BJAN Innovator U.S. Equity Buffer | Reduce -3.2% | 0.04% | −0.00 |
| DGRO iShares Core Dividend Growth | Reduce -1.5% | 0.04% | −0.00 |
| PFE Pfizer Inc. | Reduce -0.8% | 0.12% | 0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| VTES Vanguard SH Term Tax-Ex Bond | New | 0.28% | +0.28 |
| MSFT Microsoft Corp. | Add +0.1% | 2.27% | +0.19 |
| DFAI Dimensional International Co. | Add +2.0% | 6.63% | +0.14 |
| NVDA Nvidia Corp. | Add +3.6% | 0.50% | +0.14 |
| FYC First Trust Small Cap Growth | Add +0.0% | 0.77% | +0.06 |
| VOO Vanguard S&P 500 ETF | Add +19.4% | 0.30% | +0.06 |
| COF Capital One Financial Corp. | New | 0.06% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +0.5% | 0.93% | +0.05 |
| SGOV iShares 0-3 Month Treasury B | New | 0.04% | +0.04 |
| CMI Cummins Inc. | Add +7.9% | 0.32% | +0.04 |
| VTI VG Morningstar TS MKT ETF-US | Add +3.5% | 0.44% | +0.04 |
| DFAT Dimensional US Target Value | Add +7.5% | 0.37% | +0.04 |
| CBXJ Calamos Bitcoin 90 P ETF Jan | New | 0.03% | +0.03 |
| VGK Vanguard Ftse Europe ETF | New | 0.03% | +0.03 |
| BLK BlackRock Inc. | New | 0.03% | +0.03 |
| VLO Valero Energy Corp. | New | 0.03% | +0.03 |
| BA The Boeing Co. | New | 0.03% | +0.03 |
| IXUS iShares Core Intl Stock ETF | New | 0.03% | +0.03 |
| PRU Prudential Financial Inc. | New | 0.03% | +0.03 |
| IJS iShares S&P Small-Cap 600 Va | New | 0.03% | +0.03 |
| BIBL Inspire 100 ETF | New | 0.03% | +0.03 |
| TPHE Timothy Plan High Dividend S | New | 0.03% | +0.03 |
| IBD Inspire Corporate Bond ETF | New | 0.03% | +0.03 |
| FLV American Century Focused Lar | Add +4.4% | 0.69% | +0.03 |
| XLY SS Consumer Disc Select Sect | New | 0.03% | +0.03 |
| DUHP Dimensional US High Profi Et | New | 0.03% | +0.03 |
| IWF iShares Russell 1000 Growth | Add +2.6% | 0.25% | +0.03 |
| IMCB iShares Morningstar Mid-Cap | Add +2.2% | 0.52% | +0.02 |
| IBHF iShares Ibond 2026 HY & Inc. | Add +37.5% | 0.10% | +0.02 |
| TCHP T Rowe Price Blue Chip Growt | Add +3.4% | 0.19% | +0.02 |
| QGRO American Century US Quality | Add +1.5% | 0.36% | +0.02 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Add +32.0% | 0.10% | +0.02 |
| IWR iShares Russell Mid-Cap ETF | Add +1.7% | 0.44% | +0.02 |
| FBTC Fidelity Wise Origin Bitcoin | Add +2.3% | 0.19% | +0.02 |
| AXP American Express Co. | Add +0.1% | 0.19% | +0.02 |
| IBM Intl Business Machines Corp. | Add +0.1% | 0.12% | +0.01 |
| GOOGL Alphabet Inc. Class A | Add +0.0% | 0.51% | +0.01 |
| EFG iShares MSCI Eafe Growth ETF | Add +0.4% | 1.85% | +0.01 |
| IMCV iShares Morningstar Mid-Cap | Add +1.1% | 0.79% | +0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +4.0% | 0.20% | +0.01 |
| BAC Bank of America Corp. | Add +1.2% | 0.09% | +0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +10.4% | 0.07% | +0.01 |
| IWN iShares Russell 2000 Value E | Add +4.0% | 0.10% | +0.01 |
| SCHB Schwab US Broad Market ETF | Add +0.1% | 0.12% | +0.01 |
| VXUS Vanguard Total Intl Stock | Add +2.8% | 0.17% | +0.01 |
| QCOM Qualcomm Inc. | Add +0.1% | 0.07% | +0.01 |
| CEG Constellation Energy | Add +0.1% | 0.05% | +0.01 |
| DFAS Dimensional US Small Cap ETF | Add +0.5% | 0.15% | +0.01 |
| CTVA Corteva Inc. | Add +0.7% | 0.04% | +0.00 |
| DISV Dimensional International SM | Add +3.6% | 0.08% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 307 | $1.0B | LLY, DFAI, VTEB, DFAE, AAPL |
| Q1 2026 | 293 | $870.0M | LLY, DFAI, VTEB, DFAE, AAPL |
| Q4 2025 | 289 | $929.3M | LLY, DFAI, VTEB, DFAE, AAPL |
| Q3 2025 | 285 | $782.8M | LLY, DFAI, VTEB, AAPL, DFAE |
| Q2 2025 | 273 | $732.3M | LLY, DFAI, VTEB, DFAE, MSFT |
| Q1 2025 | 260 | $697.0M | LLY, DFAI, VTEB, AAPL, DFAE |
| Q4 2024 | 266 | $719.4M | LLY, DFAI, VTEB, AAPL, DFAE |
| Q3 2024 | 258 | $708.7M | LLY, DFAI, VTEB, AAPL, DFAE |
| Q2 2024 | 250 | $682.3M | LLY, DFAI, VTEB, AAPL, MSFT |
| Q1 2024 | 252 | $637.4M | LLY, DFAI, VTEB, MSFT, AAPL |