Burton Enright Welch

Name: Burton Enright Welch 13F holdings, Q3 2025
Creator: Burton Enright Welch
Published: 2026-03-09

Q2 2026Q1 2026Q4 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed March 9, 2026), Burton Enright Welch reported 130 stock positions worth $662.4 million. Its top holding was Dimensional US Core Equity 2 (DFAC) at 20.5% of the portfolio, followed by Avantis Intl S/C Value ETF (AVDV, 7.6%) and Avantis US Small Cap Value (AVUV, 6.8%). Compared with Q2 2025, it opened 12 new positions, sold out of 5, added to 69 and reduced 36. The biggest buy was Vanguard Total Intl Bond ETF (BNDX, shares +91%) and the biggest sale McKesson (MCK, shares −13%).

Most Recent 13F: Q2 2026
Location: WALNUT CREEK, CA
CIK: 0002105919
Portfolio Value: $662.4M (Q3 2025)
SEC Filing: 0002105919-26-000018 ↗ filed Mar 9, 2026

Holdings Value

Holdings 130 stocks · $662.4M


DFAC Dimensional US Core Equity 2	20.55%	3,529,478	$136.1M	Add +5.1%
AVDV Avantis Intl S/C Value ETF	7.55%	561,914	$50.0M	Add +1.5%
AVUV Avantis US Small Cap Value	6.84%	455,237	$45.3M	Add +5.4%
BNDX Vanguard Total Intl Bond ETF	6.31%	845,642	$41.8M	Add +91.4%
DUHP Dimensional US High Profi Et	5.91%	1,036,432	$39.1M	Add +4.5%
DFIC Dimensional International Co.	5.22%	1,054,080	$34.6M	Add +6.8%
DFEM Dimensional Emrg MRKT Core	4.82%	995,245	$31.9M	Add +5.7%
AVUS Avantis U.S. Equity ETF	4.15%	252,671	$27.5M	Reduce -0.2%
AVDE Avantis International Equity	2.71%	227,272	$17.9M	Reduce -1.0%
VCRB Vanguard Core Bond ETF	2.60%	219,321	$17.2M	Add +20.1%
VTIP Vanguard Short-Term Tips	2.36%	308,783	$15.6M	Add +4.5%
DFAR Dimensional US Real Est ETF	2.27%	629,568	$15.0M	Add +5.8%
AVEM Avantis Emerging Markets Eq	2.23%	196,981	$14.8M	Reduce -4.1%
CVX Chevron Corp.	1.94%	82,580	$12.8M	Reduce -0.4%
MCK McKesson Corp.	1.43%	12,254	$9.5M	Reduce -12.9%
AAPL Apple Inc.	1.35%	35,152	$9.0M	Add +1.6%
CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT	1.25%	278,750	$8.3M	Add +22.3%
VGK Vanguard Ftse Europe ETF	1.12%	93,148	$7.4M	Reduce -1.4%
LECO Lincoln Electric Holdings	0.74%	20,770	$4.9M	Add +0.0%
JQUA JPMorgan US Quality Factor	0.67%	70,495	$4.4M	Reduce -0.9%
CGIE Cap Group Intl Equity filed as CAPITAL GROUP INTERNATIONAL	0.63%	124,525	$4.2M	Reduce -1.0%
MSFT Microsoft Corp.	0.61%	7,863	$4.1M	Add +4.0%
DFAU Dimensional US Core Equity M	0.57%	82,665	$3.8M	Add +0.0%
AVGO Broadcom Inc.	0.55%	11,076	$3.7M	Reduce -11.5%
DFAE Dimensional Emerging Core Eq	0.55%	115,365	$3.6M	Reduce -4.1%
DFAT Dimensional US Target Value	0.53%	60,858	$3.5M	Add +2.1%
DCOR Dimensional US Core Eq 1 ETF	0.49%	45,211	$3.3M	Reduce -0.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.48%	61,422	$3.2M	Reduce -0.5%
DFGR Dim Global Real Estate ETF	0.46%	111,174	$3.0M	Reduce -0.6%
NVDA Nvidia Corp.	0.45%	15,872	$3.0M	Add +0.6%
DFSV Dimensional US Small Cap Val	0.42%	86,828	$2.8M	Add +0.9%
DISV Dimensional International SM	0.40%	73,412	$2.6M	Reduce -1.1%
AMZN Amazon.com Inc.	0.39%	11,825	$2.6M	Reduce -2.0%
VTES Vanguard SH Term Tax-Ex Bond	0.36%	23,373	$2.4M	Add +1.2%
DFAI Dimensional International Co.	0.35%	63,846	$2.3M	Reduce -0.1%
DFSU Dimensional US Sus CORE1 ETF	0.35%	54,001	$2.3M	Add +0.1%
TSLA Tesla Inc.	0.34%	5,100	$2.3M	Reduce -30.9%
IEUR iShares Core MSCI Europe ETF	0.33%	31,974	$2.2M	Reduce -0.9%
IVV iShares Core S&P 500 ETF	0.31%	3,114	$2.1M	No change
LLY Eli Lilly & Co.	0.31%	2,708	$2.1M	Reduce -7.0%
VOO Vanguard S&P 500 ETF	0.30%	3,242	$2.0M	Add +755.4%
CNOB Connectone Bancorp Inc.	0.30%	79,662	$2.0M	No change
QUAL iShares MSCI USA Quality Fac	0.29%	9,791	$1.9M	Reduce -0.4%
GOOGL Alphabet Inc. Class A	0.27%	7,311	$1.8M	Add +9.8%
GOOG Alphabet Inc. Class C	0.27%	7,264	$1.8M	Reduce -8.6%
VNQ Vanguard Real Estate ETF	0.24%	17,658	$1.6M	Reduce -3.3%
META Meta Platforms Inc. Class A	0.23%	2,037	$1.5M	Add +5.7%
BRK.B Berkshire Hathaway Inc. Class B	0.23%	2,975	$1.5M	Add +2.7%
VBIL Vanguard 0-3M T-Bill ETF	0.22%	18,959	$1.4M	Add +21.0%
VTEC Vanguard Ca Tax-Ex Bond	0.22%	14,315	$1.4M	Add +4.7%
COST Costco Wholesale Corp.	0.21%	1,517	$1.4M	Add +1.4%
VCRM Vanguard Core Tax-Ex Bond	0.21%	18,364	$1.4M	Add +408.8%
VXF Vanguard Extended Market ETF	0.20%	6,364	$1.3M	New
V Visa Inc. Class A	0.20%	3,829	$1.3M	Reduce -1.6%
ORCL Oracle Corp.	0.20%	4,639	$1.3M	Add +0.7%
SPY SS SPDR S&P 500 ETF Trust-US	0.18%	1,793	$1.2M	No change
CGSM Cap Group Short Muni Income	0.16%	41,433	$1.1M	Add +16.4%
VSDM Vanguard Short Tax-Ex Bond	0.16%	13,605	$1.0M	Add +10.7%
DFSE Dimensional Em Sus CORE1 ETF	0.15%	24,899	$1.0M	Reduce -13.2%
VEA Vanguard Ftse Developed ETF	0.15%	16,618	$996K	Add +3.5%
CDNS Cadence Design SYS Inc.	0.14%	2,675	$940K	Add +0.3%
SCHB Schwab US Broad Market ETF	0.14%	36,225	$931K	Reduce -0.9%
JPM JPMorgan Chase & Co.	0.14%	2,867	$904K	Add +14.0%
ADP Automatic Data Processing	0.13%	2,833	$831K	Add +0.7%
IWF iShares Russell 1000 Growth	0.12%	1,733	$812K	No change
HD Home Depot Inc.	0.12%	1,997	$809K	Add +4.4%
WSM Williams-Sonoma Inc.	0.12%	4,044	$790K	Add +0.1%
DFCA Dimensional Calfornia MB ETF	0.12%	15,439	$769K	Add +86.5%
CAT Caterpillar Inc.	0.11%	1,574	$751K	Add +1.8%
VPLS Vanguard Core-Plus Bond ETF	0.11%	9,505	$747K	Reduce -3.1%
AVSU Avantis Resp US Equity ETF	0.11%	10,032	$738K	No change
JNJ Johnson & Johnson	0.11%	3,868	$717K	Add +0.1%
CGMU Cap Group Municipal Income	0.10%	23,326	$637K	Reduce -16.7%
SYK Stryker Corp.	0.10%	1,716	$634K	Add +1.7%
VGUS Vanguard Ultra SHRT Treasury	0.09%	8,265	$625K	Add +102.9%
BND Vanguard Total Bond Market	0.09%	8,297	$617K	Reduce -44.4%
VXUS Vanguard Total Intl Stock	0.09%	8,352	$614K	New
WFC Wells Fargo & Co.	0.09%	7,058	$592K	Reduce -22.7%
IWD iShares Russell 1000 Value E	0.09%	2,801	$570K	No change
IJH iShares Core S&P Midcap ETF	0.08%	8,600	$561K	No change
EXPD Expeditors Intl Wash Inc.	0.08%	4,313	$529K	Add +0.2%
VWO Vanguard Ftse Emerging Marke	0.08%	9,663	$524K	Add +3.1%
DFNM Dimensional National Muni BD	0.08%	10,631	$510K	Reduce -1.6%
PEP Pepsico Inc.	0.07%	3,505	$492K	Add +2.7%
INTC Intel Corp.	0.07%	14,558	$488K	Reduce -6.8%
PG The Procter & Gamble Co.	0.07%	3,079	$473K	Add +1.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.07%	4,059	$465K	Add +2.1%
AXP American Express Co.	0.07%	1,365	$453K	Add +2.3%
CSCO Cisco Systems Inc.	0.07%	6,583	$450K	Add +2.6%
GE General Electric filed as GE AEROSPACE	0.07%	1,485	$447K	Add +7.1%
VTI VG Morningstar TS MKT ETF-US	0.07%	1,319	$433K	Reduce -40.2%
VT Vanguard Tot World STK ETF	0.07%	3,134	$432K	Add +6.5%
SCHX Schwab US Large-Cap ETF	0.07%	16,391	$432K	Add +0.1%
QQQ Invesco QQQ Trust Series 1	0.06%	701	$421K	Add +1.3%
VOOG Vanguard S&P 500 Growth ETF	0.06%	966	$421K	New
PHYS Sprott Physical Gold Trust	0.06%	14,071	$417K	No change
DFSI Dimensional Int Sus COR1 ETF	0.06%	9,783	$401K	Add +34.0%
BA The Boeing Co.	0.06%	1,801	$389K	Add +5.8%
MCD McDonald's Corp.	0.06%	1,269	$386K	Add +4.8%
WMT Walmart Inc.	0.06%	3,741	$386K	Add +10.0%

Show all 130 holdings

Portfolio Sells Q2 2025 → Q3 2025


MCK McKesson Corp.	Reduce -12.9%	1.43%	−0.36
AVUS Avantis U.S. Equity ETF	Reduce -0.2%	4.15%	−0.28
AVDE Avantis International Equity	Reduce -1.0%	2.71%	−0.24
AVEM Avantis Emerging Markets Eq	Reduce -4.1%	2.23%	−0.21
VGK Vanguard Ftse Europe ETF	Reduce -1.4%	1.12%	−0.15
CVX Chevron Corp.	Reduce -0.4%	1.94%	−0.12
BND Vanguard Total Bond Market	Reduce -44.4%	0.09%	−0.10
CGIE Cap Group Intl Equity	Reduce -1.0%	0.63%	−0.08
LLY Eli Lilly & Co.	Reduce -7.0%	0.31%	−0.08
JQUA JPMorgan US Quality Factor	Reduce -0.9%	0.67%	−0.07
AMZN Amazon.com Inc.	Reduce -2.0%	0.39%	−0.07
TSLA Tesla Inc.	Reduce -30.9%	0.34%	−0.06
DFGR Dim Global Real Estate ETF	Reduce -0.6%	0.46%	−0.06
VCIT Vanguard Int-Term Corporate	Sold out	0.00%	−0.05
DFAE Dimensional Emerging Core Eq	Reduce -4.1%	0.55%	−0.05
VTI VG Morningstar TS MKT ETF-US	Reduce -40.2%	0.07%	−0.05
KO The Coca-Cola Co.	Sold out	0.00%	−0.05
AVGO Broadcom Inc.	Reduce -11.5%	0.55%	−0.05
V Visa Inc. Class A	Reduce -1.6%	0.20%	−0.04
IEUR iShares Core MSCI Europe ETF	Reduce -0.9%	0.33%	−0.04
VNQ Vanguard Real Estate ETF	Reduce -3.3%	0.24%	−0.04
WFC Wells Fargo & Co.	Reduce -22.7%	0.09%	−0.04
DCOR Dimensional US Core Eq 1 ETF	Reduce -0.7%	0.49%	−0.04
VIG Vanguard Dividend Apprec ETF	Sold out	0.00%	−0.04
BMRN Biomarin Pharmaceutical Inc.	Sold out	0.00%	−0.04
DFSE Dimensional Em Sus CORE1 ETF	Reduce -13.2%	0.15%	−0.03
AJG Arthur J Gallagher & Co.	Sold out	0.00%	−0.03
CGMU Cap Group Municipal Income	Reduce -16.7%	0.10%	−0.03
DFAI Dimensional International Co.	Reduce -0.1%	0.35%	−0.03
BAC Bank of America Corp.	Reduce -0.5%	0.48%	−0.03
DISV Dimensional International SM	Reduce -1.1%	0.40%	−0.03
QUAL iShares MSCI USA Quality Fac	Reduce -0.4%	0.29%	−0.02
ISRG Intuitive Surgical Inc.	Reduce -2.3%	0.05%	−0.02
VPLS Vanguard Core-Plus Bond ETF	Reduce -3.1%	0.11%	−0.02
DFNM Dimensional National Muni BD	Reduce -1.6%	0.08%	−0.01
SCHB Schwab US Broad Market ETF	Reduce -0.9%	0.14%	−0.01
SCHF Schwab Intl Equity ETF	Reduce -6.5%	0.05%	−0.01
VUSB Vanguard Ultra Short Bond Et	Reduce -1.3%	0.05%	−0.01
DFIS Dimensional International SM	Reduce -5.8%	0.05%	−0.01
INTC Intel Corp.	Reduce -6.8%	0.07%	+0.01
GOOG Alphabet Inc. Class C	Reduce -8.6%	0.27%	+0.02

Portfolio Buys Q2 2025 → Q3 2025


BNDX Vanguard Total Intl Bond ETF	Add +91.4%	6.31%	+2.52
VOO Vanguard S&P 500 ETF	Add +755.4%	0.30%	+0.26
VXF Vanguard Extended Market ETF	New	0.20%	+0.20
CGXU Cap Group Intl Focus	Add +22.3%	1.25%	+0.17
VCRM Vanguard Core Tax-Ex Bond	Add +408.8%	0.21%	+0.16
VCRB Vanguard Core Bond ETF	Add +20.1%	2.60%	+0.14
AAPL Apple Inc.	Add +1.6%	1.35%	+0.12
VXUS Vanguard Total Intl Stock	New	0.09%	+0.09
GOOGL Alphabet Inc. Class A	Add +9.8%	0.27%	+0.06
VOOG Vanguard S&P 500 Growth ETF	New	0.06%	+0.06
DFCA Dimensional Calfornia MB ETF	Add +86.5%	0.12%	+0.05
AMAT Applied Materials Inc.	New	0.04%	+0.04
VGUS Vanguard Ultra SHRT Treasury	Add +102.9%	0.09%	+0.04
BLK BlackRock Inc.	New	0.04%	+0.04
AZO AutoZone Inc.	New	0.04%	+0.04
GEV GE Vernova Inc.	New	0.03%	+0.03
GS Goldman Sachs Group Inc.	New	0.03%	+0.03
GLD SPDR Gold Shares	New	0.03%	+0.03
BX Blackstone Inc.	New	0.03%	+0.03
ABT Abbott Laboratories	New	0.03%	+0.03
LOW Lowe's Cos Inc.	New	0.03%	+0.03
ORCL Oracle Corp.	Add +0.7%	0.20%	+0.02
AVUV Avantis US Small Cap Value	Add +5.4%	6.84%	+0.02
NVDA Nvidia Corp.	Add +0.6%	0.45%	+0.01
ABBV Abbvie Inc.	Add +20.9%	0.05%	+0.01
VBIL Vanguard 0-3M T-Bill ETF	Add +21.0%	0.22%	+0.01
DFSI Dimensional Int Sus COR1 ETF	Add +34.0%	0.06%	+0.01
JPM JPMorgan Chase & Co.	Add +14.0%	0.14%	+0.01
CAT Caterpillar Inc.	Add +1.8%	0.11%	+0.01
IEFA iShares Core MSCI Eafe ETF	Add +27.1%	0.06%	+0.01
JNJ Johnson & Johnson	Add +0.1%	0.11%	+0.01
GE General Electric	Add +7.1%	0.07%	+0.01
WSM Williams-Sonoma Inc.	Add +0.1%	0.12%	+0.00
CGSM Cap Group Short Muni Income	Add +16.4%	0.16%	+0.00
HD Home Depot Inc.	Add +4.4%	0.12%	+0.00
WMT Walmart Inc.	Add +10.0%	0.06%	+0.00
XOM Exxon Mobil Corp.	Add +9.6%	0.06%	−0.00
VT Vanguard Tot World STK ETF	Add +6.5%	0.07%	−0.00
CDNS Cadence Design SYS Inc.	Add +0.3%	0.14%	−0.00
EVRG Evergy Inc.	Add +1.3%	0.03%	−0.00
VWO Vanguard Ftse Emerging Marke	Add +3.1%	0.08%	−0.00
QQQ Invesco QQQ Trust Series 1	Add +1.3%	0.06%	−0.00
MCD McDonald's Corp.	Add +4.8%	0.06%	−0.00
BA The Boeing Co.	Add +5.8%	0.06%	−0.00
SCHW Schwab (charles) Corp.	Add +2.2%	0.05%	−0.00
AMGN Amgen Inc.	Add +2.2%	0.03%	−0.00
PEP Pepsico Inc.	Add +2.7%	0.07%	−0.00
VSDM Vanguard Short Tax-Ex Bond	Add +10.7%	0.16%	−0.00
SCHX Schwab US Large-Cap ETF	Add +0.1%	0.07%	−0.00
NFLX Netflix Inc.	Add +13.8%	0.04%	−0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	136	$851.5M	DFAC, AVUV, AVDV, BNDX, DUHP
Q1 2026	134	$735.5M	DFAC, AVDV, AVUV, BNDX, DUHP
Q4 2025	128	$710.5M	DFAC, AVDV, AVUV, BNDX, DUHP
Q3 2025	130	$662.4M	DFAC, AVDV, AVUV, BNDX, DUHP
Q2 2025	123	$576.7M	DFAC, AVDV, AVUV, DUHP, DFIC
Q1 2025	104	$491.8M	DFAC, AVDV, AVUV, DUHP, DFEM
Q4 2024	98	$476.2M	DFAC, AVUV, AVDV, DUHP, DFEM
Q3 2024	93	$466.2M	DFAC, AVUV, AVDV, DUHP, DFEM
Q2 2024	92	$433.8M	DFAC, AVUV, AVDV, DUHP, DFEM
Q1 2024	89	$415.7M	DFAC, AVUV, AVDV, DUHP, DFEM