Bedel Financial Consulting, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Bedel Financial Consulting, Inc. reported 285 stock positions worth $782.8 million. Its top holding was Eli Lilly (LLY) at 32.0% of the portfolio, followed by Dimensional International (DFAI, 6.7%) and Vanguard Tax-Exempt Bond ETF (VTEB, 4.2%). Compared with Q2 2025, it opened 18 new positions, sold out of 6, added to 140 and reduced 55. The biggest buy was a new position in Avantis Intl S/C Value ETF (AVDV) and the biggest sale Eli Lilly (LLY, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- INDIANAPOLIS, IN
- CIK
- 0001730511
- Portfolio Value
- $782.8M (Q3 2025)
- SEC Filing
- 0001765380-25-000442 ↗ filed Nov 7, 2025
Holdings Value
Holdings 285 stocks · $782.8M
| LLY Eli Lilly & Co. | 32.02% | 328,481 | $250.6M | Reduce -0.1% |
| DFAI Dimensional International Co. | 6.68% | 1,438,524 | $52.3M | Add +2.4% |
| VTEB Vanguard Tax-Exempt Bond ETF | 4.23% | 661,268 | $33.1M | Add +2.3% |
| AAPL Apple Inc. | 2.58% | 79,388 | $20.2M | Reduce -1.1% |
| DFAE Dimensional Emerging Core Eq | 2.55% | 634,028 | $20.0M | Add +8.6% |
| MSFT Microsoft Corp. | 2.25% | 33,932 | $17.6M | Add +1.4% |
| EFG iShares MSCI Eafe Growth ETF | 1.77% | 121,699 | $13.9M | Add +0.6% |
| AVDV Avantis Intl S/C Value ETF | 1.73% | 151,732 | $13.5M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.65% | 19,395 | $12.9M | Reduce -0.5% |
| IMCG iShares Morningstar Mid-Cap | 1.64% | 155,160 | $12.8M | Add +2.7% |
| CGGR Cap Group Growth Equity | 1.61% | 287,390 | $12.6M | Add +3.0% |
| JPM JPMorgan Chase & Co. | 1.26% | 31,379 | $9.9M | Add +1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.21% | 18,884 | $9.5M | Add +2.3% |
| PAPR Innovator U.S. Equity Power | 1.17% | 237,717 | $9.1M | No change |
| TOTL SS Doubleline TR Tact ETF | 1.08% | 208,014 | $8.4M | Reduce -3.5% |
| IVV iShares Core S&P 500 ETF | 0.97% | 11,398 | $7.6M | Add +4.4% |
| FYC First Trust Small Cap Growth | 0.85% | 73,630 | $6.7M | Add +3.5% |
| IMCV iShares Morningstar Mid-Cap | 0.84% | 81,837 | $6.6M | Add +8.2% |
| FLV American Century Focused Lar | 0.75% | 79,450 | $5.9M | Add +9.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.67% | 7 | $5.3M | No change |
| GOOGL Alphabet Inc. Class A | 0.65% | 20,982 | $5.1M | Reduce -0.5% |
| ISCF iShares International Small | 0.64% | 122,060 | $5.0M | Reduce -0.9% |
| PFFV Global X Variable Rate Pref | 0.64% | 216,931 | $5.0M | Reduce -4.0% |
| NVDA Nvidia Corp. | 0.60% | 25,048 | $4.7M | Add +8.0% |
| COWZ Pacer US Cash Cows 100 ETF | 0.58% | 79,607 | $4.6M | Reduce -0.9% |
| ORCL Oracle Corp. | 0.57% | 15,972 | $4.5M | Add +3.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.56% | 54,352 | $4.3M | Reduce -1.9% |
| IMCB iShares Morningstar Mid-Cap | 0.53% | 50,302 | $4.2M | Add +5.9% |
| GOOG Alphabet Inc. Class C | 0.51% | 16,500 | $4.0M | Reduce -0.6% |
| DFIV Dimensional International Va | 0.51% | 86,418 | $4.0M | Add +1.1% |
| QUAL iShares MSCI USA Quality Fac | 0.47% | 19,066 | $3.7M | Reduce -0.6% |
| IWR iShares Russell Mid-Cap ETF | 0.45% | 36,693 | $3.5M | Add +4.2% |
| DFAT Dimensional US Target Value | 0.45% | 60,415 | $3.5M | Add +20.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.43% | 10,330 | $3.4M | Reduce -2.8% |
| AMZN Amazon.com Inc. | 0.40% | 14,234 | $3.1M | Add +2.0% |
| CMI Cummins Inc. | 0.39% | 7,141 | $3.0M | Reduce -0.2% |
| ABBV Abbvie Inc. | 0.37% | 12,597 | $2.9M | Add +0.2% |
| IWM iShares Russell 2000 ETF | 0.37% | 12,029 | $2.9M | Add +0.0% |
| QGRO American Century US Quality | 0.36% | 24,593 | $2.8M | Add +0.4% |
| IJUL Innovator International Deve | 0.34% | 82,306 | $2.7M | Add +0.6% |
| WMT Walmart Inc. | 0.34% | 26,081 | $2.7M | Add +0.8% |
| JNJ Johnson & Johnson | 0.34% | 14,212 | $2.6M | Add +2.4% |
| VNLA Janus Henderson Short Durati | 0.33% | 52,291 | $2.6M | Add +0.0% |
| VOO Vanguard S&P 500 ETF | 0.33% | 4,158 | $2.5M | Add +7.3% |
| XOM Exxon Mobil Corp. | 0.32% | 22,354 | $2.5M | Add +3.7% |
| EFA iShares MSCI Eafe ETF | 0.32% | 26,439 | $2.5M | Add +6.0% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.29% | 22,614 | $2.3M | Add +10.1% |
| GSPY Gotham Enhanced 500 ETF | 0.29% | 62,055 | $2.3M | Reduce -0.1% |
| HD Home Depot Inc. | 0.29% | 5,571 | $2.3M | Add +0.6% |
| IJH iShares Core S&P Midcap ETF | 0.28% | 34,002 | $2.2M | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 0.28% | 3,011 | $2.2M | Add +3.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.28% | 4,551 | $2.2M | Reduce -0.5% |
| MCD McDonald's Corp. | 0.26% | 6,824 | $2.1M | Add +2.3% |
| CSCO Cisco Systems Inc. | 0.26% | 30,272 | $2.1M | Add +0.9% |
| IWF iShares Russell 1000 Growth | 0.26% | 4,284 | $2.0M | Reduce -0.5% |
| FNX First Trust Mid Cap Core Alp | 0.25% | 15,700 | $2.0M | Reduce -7.1% |
| AMAT Applied Materials Inc. | 0.24% | 9,315 | $1.9M | Add +0.4% |
| GLD SPDR Gold Shares | 0.24% | 5,360 | $1.9M | Add +10.3% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.24% | 29,088 | $1.9M | Reduce -0.4% |
| PG The Procter & Gamble Co. | 0.24% | 12,106 | $1.9M | Add +3.5% |
| PEP Pepsico Inc. | 0.22% | 12,490 | $1.8M | Add +1.9% |
| POCT Innovator U.S. Equity Power | 0.22% | 39,213 | $1.7M | Reduce -2.2% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.21% | 38,415 | $1.7M | Reduce -2.3% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.21% | 35,699 | $1.7M | Add +1.6% |
| PLTR Palantir Technologies Inc. Class A | 0.21% | 8,901 | $1.6M | Add +14.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.21% | 14,151 | $1.6M | Add +0.1% |
| TSLA Tesla Inc. | 0.20% | 3,597 | $1.6M | Add +0.1% |
| ORLY O'reilly Automotive Inc. | 0.20% | 14,775 | $1.6M | Add +1.6% |
| TCHP T Rowe Price Blue Chip Growt | 0.20% | 32,035 | $1.6M | Add +2.4% |
| KO The Coca-Cola Co. | 0.20% | 23,346 | $1.5M | Add +3.0% |
| BUFB Innovator Ladd Allo Buff ETF | 0.19% | 42,219 | $1.5M | Reduce -1.5% |
| FBTC Fidelity Wise Origin Bitcoin | 0.19% | 14,766 | $1.5M | Add +0.2% |
| SPG Simon Property Group Inc. | 0.19% | 7,833 | $1.5M | Add +3.6% |
| LOW Lowe's Cos Inc. | 0.18% | 5,761 | $1.4M | Add +3.8% |
| ISRG Intuitive Surgical Inc. | 0.18% | 3,231 | $1.4M | Add +0.5% |
| IWS iShares Russell Mid-Cap Valu | 0.18% | 10,335 | $1.4M | Reduce -6.1% |
| AXP American Express Co. | 0.18% | 4,344 | $1.4M | Add +0.1% |
| BSX Boston Scientific Corp. | 0.18% | 14,560 | $1.4M | Add +11.6% |
| UOCT Innovator U.S. Equity Ultra | 0.18% | 36,171 | $1.4M | Reduce -2.6% |
| ADP Automatic Data Processing | 0.18% | 4,681 | $1.4M | Add +0.2% |
| CVX Chevron Corp. | 0.18% | 8,842 | $1.4M | Add +3.8% |
| FDN First Trust DJ Internet Ind | 0.17% | 4,875 | $1.4M | No change |
| HON Honeywell International Inc. | 0.17% | 6,460 | $1.4M | Add +6.0% |
| MINT PIMCO Enhanced Short Maturit | 0.17% | 13,440 | $1.4M | Reduce -3.2% |
| HBAN Huntington Bancshares Inc. | 0.17% | 76,879 | $1.3M | Add +0.6% |
| VXUS Vanguard Total Intl Stock | 0.16% | 17,244 | $1.3M | Reduce -2.4% |
| PJUL Innovator U.S. Equity Power | 0.16% | 27,641 | $1.3M | No change |
| HELO JPMorgan Hedged Equity ETF | 0.16% | 19,101 | $1.2M | Add +0.2% |
| DFAS Dimensional US Small Cap ETF | 0.15% | 17,460 | $1.2M | Add +0.0% |
| AVGO Broadcom Inc. | 0.14% | 3,425 | $1.1M | Add +3.6% |
| COST Costco Wholesale Corp. | 0.14% | 1,190 | $1.1M | Add +8.2% |
| V Visa Inc. Class A | 0.14% | 3,096 | $1.1M | Add +6.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.13% | 5,653 | $1.1M | Add +0.1% |
| RTX RTX Corp. | 0.13% | 6,201 | $1.0M | Add +12.4% |
| IWP iShares Russell Mid-Cap Grow | 0.13% | 7,283 | $1.0M | Add +1.2% |
| PSEP Innovator U.S. Equity Power | 0.13% | 23,831 | $1.0M | Reduce -1.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.13% | 4,015 | $1.0M | Add +2.1% |
| INTC Intel Corp. | 0.12% | 28,847 | $968K | Reduce -0.4% |
| EXLS Exlservice Holdings Inc. | 0.12% | 21,965 | $967K | No change |
| IWD iShares Russell 1000 Value E | 0.12% | 4,749 | $967K | Add +5.5% |
Options reported separately and not counted above: LLY puts ($578K).
Portfolio Sells Q2 2025 → Q3 2025
| LLY Eli Lilly & Co. | Reduce -0.1% | 32.02% | −2.97 |
| TOTL SS Doubleline TR Tact ETF | Reduce -3.5% | 1.08% | −0.10 |
| PFFV Global X Variable Rate Pref | Reduce -4.0% | 0.64% | −0.06 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -1.9% | 0.56% | −0.05 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −0.03 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.03 |
| PRU Prudential Financial Inc. | Sold out | 0.00% | −0.03 |
| TPHE Timothy Plan High Dividend S | Sold out | 0.00% | −0.03 |
| WAT Waters Corp. | Sold out | 0.00% | −0.03 |
| F Ford Motor Co. | Sold out | 0.00% | −0.02 |
| ADBE Adobe Inc. | Reduce -17.3% | 0.05% | −0.02 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -0.9% | 0.58% | −0.02 |
| MINT PIMCO Enhanced Short Maturit | Reduce -3.2% | 0.17% | −0.02 |
| NI Nisource Inc. | Reduce -32.0% | 0.03% | −0.01 |
| IWS iShares Russell Mid-Cap Valu | Reduce -6.1% | 0.18% | −0.01 |
| FNX First Trust Mid Cap Core Alp | Reduce -7.1% | 0.25% | −0.01 |
| ISCF iShares International Small | Reduce -0.9% | 0.64% | −0.01 |
| POCT Innovator U.S. Equity Power | Reduce -2.2% | 0.22% | −0.01 |
| DUK Duke Energy Corp. | Reduce -13.3% | 0.06% | −0.01 |
| UOCT Innovator U.S. Equity Ultra | Reduce -2.6% | 0.18% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.8% | 0.43% | −0.01 |
| DD Dupont DE Nemours Inc. | Reduce -18.4% | 0.05% | −0.01 |
| SGOV iShares 0-3 Month Treasury B | Reduce -10.3% | 0.04% | −0.01 |
| CTVA Corteva Inc. | Reduce -3.3% | 0.03% | −0.01 |
| PFE Pfizer Inc. | Reduce -3.9% | 0.11% | −0.01 |
| PJAN Innovator U.S. Equity Power | Reduce -2.3% | 0.12% | −0.01 |
| PNOV Innovator U.S. Equity Power | Reduce -2.1% | 0.12% | −0.01 |
| T AT&T Inc. | Reduce -0.5% | 0.06% | −0.01 |
| BUFB Innovator Ladd Allo Buff ETF | Reduce -1.5% | 0.19% | −0.01 |
| QUAL iShares MSCI USA Quality Fac | Reduce -0.6% | 0.47% | −0.00 |
| VXUS Vanguard Total Intl Stock | Reduce -2.4% | 0.16% | −0.00 |
| COF Capital One Financial Corp. | Reduce -1.3% | 0.05% | −0.00 |
| UJAN Innovator U.S. Equity Ultra | Reduce -6.5% | 0.05% | −0.00 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.0% | 0.28% | −0.00 |
| ENB Enbridge Inc. | Reduce -16.0% | 0.03% | −0.00 |
| MA Mastercard Inc. Class A | Reduce -0.2% | 0.06% | −0.00 |
| PSEP Innovator U.S. Equity Power | Reduce -1.0% | 0.13% | −0.00 |
| ABT Abbott Laboratories | Reduce -1.2% | 0.04% | −0.00 |
| SCHD Schwab US DVD Equity ETF | Reduce -0.9% | 0.07% | −0.00 |
| WWJD Inspire International ETF | Reduce -4.9% | 0.03% | −0.00 |
| TPIF Timothy Plan Intl ETF | Reduce -5.2% | 0.03% | −0.00 |
| ETN Eaton Corp. PLC | Reduce -1.6% | 0.07% | −0.00 |
| TSCO Tractor Supply Company | Reduce -7.9% | 0.03% | −0.00 |
| BSTP Innovator Buff Su Strat ETF | Reduce -2.8% | 0.05% | −0.00 |
| CBXJ Calamos Bitcoin 90 P ETF Jan | Reduce -3.4% | 0.03% | −0.00 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -0.4% | 0.24% | −0.00 |
| PLD Prologis Inc. | Reduce -4.6% | 0.03% | −0.00 |
| USB US Bancorp | Reduce -0.0% | 0.08% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Reduce -0.5% | 0.05% | +0.00 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -2.3% | 0.21% | +0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| AVDV Avantis Intl S/C Value ETF | New | 1.73% | +1.73 |
| DFAE Dimensional Emerging Core Eq | Add +8.6% | 2.55% | +0.25 |
| ORCL Oracle Corp. | Add +3.1% | 0.57% | +0.11 |
| NVDA Nvidia Corp. | Add +8.0% | 0.60% | +0.10 |
| FYC First Trust Small Cap Growth | Add +3.5% | 0.85% | +0.08 |
| DFAT Dimensional US Target Value | Add +20.3% | 0.45% | +0.08 |
| CGGR Cap Group Growth Equity | Add +3.0% | 1.61% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | Add +14.4% | 0.21% | +0.06 |
| IMCV iShares Morningstar Mid-Cap | Add +8.2% | 0.84% | +0.06 |
| FLV American Century Focused Lar | Add +9.2% | 0.75% | +0.05 |
| ABBV Abbvie Inc. | Add +0.2% | 0.37% | +0.05 |
| IVV iShares Core S&P 500 ETF | Add +4.4% | 0.97% | +0.05 |
| TSLA Tesla Inc. | Add +0.1% | 0.20% | +0.05 |
| DFAI Dimensional International Co. | Add +2.4% | 6.68% | +0.05 |
| JNJ Johnson & Johnson | Add +2.4% | 0.34% | +0.05 |
| GLD SPDR Gold Shares | Add +10.3% | 0.24% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +1.3% | 1.26% | +0.04 |
| RING iShares MSCI Global Gold Min | New | 0.03% | +0.03 |
| XLK SS Technology Select Sector | New | 0.03% | +0.03 |
| MTRN Materion Corp. | New | 0.03% | +0.03 |
| ELCV Eventide High Dividend ETF | New | 0.03% | +0.03 |
| C Citigroup Inc. | New | 0.03% | +0.03 |
| GDX Vaneck Gold Miners ETF | New | 0.03% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.03% | +0.03 |
| QBTS D-Wave Quantum Inc. | New | 0.03% | +0.03 |
| IYW iShares Ustechnology ETF | New | 0.03% | +0.03 |
| MDT Medtronic PLC | New | 0.03% | +0.03 |
| LMT Lockheed Martin Corp. | New | 0.03% | +0.03 |
| XLI SS Industrial Select Sector | New | 0.03% | +0.03 |
| EJAN Innovator Emerging Markets P | New | 0.03% | +0.03 |
| GEV GE Vernova Inc. | New | 0.03% | +0.03 |
| UMAY Innovator U.S. Equity Ultra | New | 0.03% | +0.03 |
| WELL Welltower Inc. | New | 0.03% | +0.03 |
| KE Kimball Electronics Inc. | New | 0.03% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +7.3% | 0.33% | +0.02 |
| ORLY O'reilly Automotive Inc. | Add +1.6% | 0.20% | +0.02 |
| RTX RTX Corp. | Add +12.4% | 0.13% | +0.02 |
| SPG Simon Property Group Inc. | Add +3.6% | 0.19% | +0.02 |
| AVGO Broadcom Inc. | Add +3.6% | 0.14% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +12.1% | 0.08% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +0.0% | 0.37% | +0.02 |
| CAT Caterpillar Inc. | Add +1.4% | 0.12% | +0.02 |
| IMCB iShares Morningstar Mid-Cap | Add +5.9% | 0.53% | +0.02 |
| LOW Lowe's Cos Inc. | Add +3.8% | 0.18% | +0.02 |
| BLK BlackRock Inc. | Add +48.5% | 0.05% | +0.02 |
| GD General Dynamics Corp. | Add +8.0% | 0.10% | +0.02 |
| IBHF iShares Ibond 2026 HY & Inc. | Add +18.6% | 0.11% | +0.01 |
| VGT Vanguard Info Tech ETF | Add +8.8% | 0.09% | +0.01 |
| AMAT Applied Materials Inc. | Add +0.4% | 0.24% | +0.01 |
| VTES Vanguard SH Term Tax-Ex Bond | Add +10.1% | 0.29% | +0.01 |
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 |