Crescent Grove Advisors, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 24, 2025), Crescent Grove Advisors, LLC reported 261 stock positions worth $959.5 million. Its top holding was Zurn Elkay Water Solutions C (ZWS) at 8.4% of the portfolio, followed by Dun & Bradstreet (DNB, 6.2%) and iShares Core S&P 500 ETF (IVV, 6.1%). Compared with Q4 2024, it opened 14 new positions, sold out of 28, added to 89 and reduced 84. The biggest buy was iShares 0-1 Year Treasury Bo (SHV, shares +205%) and the biggest sale an exit from Alerian MLP ETF (AMLP).
- Most Recent 13F
- Q2 2026
- Location
- LAKE FOREST, IL
- CIK
- 0001713520
- Portfolio Value
- $959.5M (Q1 2025)
- SEC Filing
- 0000892712-25-000058 ↗ filed Apr 24, 2025
Holdings Value
Holdings 261 stocks · $959.5M
| ZWS Zurn Elkay Water Solutions C | 8.37% | 2,435,447 | $80.3M | No change |
| DNB Dun & Bradstreet Holdings Inc. | 6.22% | 6,678,062 | $59.7M | Add +8.1% |
| IVV iShares Core S&P 500 ETF | 6.09% | 103,993 | $58.4M | Reduce -2.6% |
| VOO Vanguard S&P 500 ETF | 4.40% | 82,164 | $42.2M | Add +0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.22% | 54,985 | $30.9M | Reduce -2.3% |
| SHV iShares 0-1 Year Treasury Bo | 2.88% | 250,177 | $27.6M | Add +204.6% |
| ICE Intercontinental Exchange Inc. | 2.74% | 152,500 | $26.3M | No change |
| VTI VG Morningstar TS MKT ETF-US | 2.54% | 88,569 | $24.3M | Add +0.0% |
| UYLD Angel Oak Ultrashort Income | 2.44% | 455,291 | $23.4M | Add +75.7% |
| CDW CDW Corp. | 2.38% | 142,731 | $22.9M | Add +3.0% |
| QQQ Invesco QQQ Trust Series 1 | 2.08% | 42,446 | $19.9M | Reduce -0.0% |
| FNF Fidelity National Financial | 2.06% | 304,365 | $19.8M | Add +0.1% |
| IJR iShares Core S&P Small-Cap E | 2.01% | 184,257 | $19.3M | Reduce -1.2% |
| IEMG iShares Core MSCI Emerging | 1.89% | 336,733 | $18.2M | Reduce -7.3% |
| AAPL Apple Inc. | 1.83% | 79,048 | $17.6M | Reduce -2.0% |
| IJH iShares Core S&P Midcap ETF | 1.76% | 289,121 | $16.9M | Add +0.4% |
| IWF iShares Russell 1000 Growth | 1.62% | 43,021 | $15.5M | Reduce -1.6% |
| IEFA iShares Core MSCI Eafe ETF | 1.59% | 201,059 | $15.2M | Reduce -1.3% |
| IUSV iShares Core S&P U.S. Value | 1.54% | 159,784 | $14.7M | Add +0.8% |
| NATL NCR Atleos Corp. | 1.53% | 555,043 | $14.6M | Add +68.7% |
| FIS Fidelity National Info Serv | 1.43% | 183,312 | $13.7M | Reduce -31.9% |
| SGOV iShares 0-3 Month Treasury B | 1.30% | 124,079 | $12.5M | Reduce -13.1% |
| ITOT iShares Core S&P Total U.S. | 1.19% | 93,360 | $11.4M | Reduce -7.8% |
| CARY Angel Oak Income ETF | 1.18% | 543,985 | $11.3M | Add +0.5% |
| XLE SS Energy Select Sector | 1.11% | 113,740 | $10.6M | Add +7.7% |
| VYM Vanguard High DVD Yield ETF | 0.99% | 73,640 | $9.5M | Add +2.4% |
| XLF SS Financial Select Sector | 0.96% | 185,430 | $9.2M | Add +0.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.92% | 96,321 | $8.8M | Add +208.9% |
| VYX NCR Voyix Corp. | 0.88% | 866,347 | $8.4M | Add +47.9% |
| IWP iShares Russell Mid-Cap Grow | 0.75% | 61,378 | $7.2M | Reduce -0.1% |
| XBI SS SPDR S&P Biotech ETF | 0.71% | 84,115 | $6.8M | Reduce -8.2% |
| CARR Carrier Global Corp. | 0.69% | 104,643 | $6.6M | Add +40.0% |
| IWD iShares Russell 1000 Value E | 0.65% | 33,158 | $6.2M | Add +11.4% |
| CNNE Cannae Holdings Inc. | 0.62% | 325,479 | $6.0M | Add +0.4% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.62% | 134,279 | $5.9M | Add +4.5% |
| XLG Invesco S&P 500 Top 50 ETF | 0.57% | 118,781 | $5.5M | Reduce -1.6% |
| ARLP Alliance Resource Partners | 0.57% | 199,454 | $5.4M | Add +62.3% |
| VEA Vanguard Ftse Developed ETF | 0.56% | 105,372 | $5.4M | Reduce -1.6% |
| EPD Enterprise Products Partners | 0.55% | 153,195 | $5.2M | Reduce -1.3% |
| MSFT Microsoft Corp. | 0.53% | 13,575 | $5.1M | Reduce -4.6% |
| MPLX MPLX LP | 0.49% | 88,143 | $4.7M | Add +38.6% |
| IAU iShares Gold Trust | 0.49% | 79,991 | $4.7M | Add +2.6% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.48% | 88,381 | $4.6M | Add +3.7% |
| IWM iShares Russell 2000 ETF | 0.47% | 22,691 | $4.5M | Add +1.0% |
| IJS iShares S&P Small-Cap 600 Va | 0.47% | 45,919 | $4.5M | No change |
| SHY iShares 1-3 Year Treasury Bo | 0.46% | 52,912 | $4.4M | Add +13.9% |
| EFA iShares MSCI Eafe ETF | 0.45% | 53,397 | $4.4M | Reduce -0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.45% | 8,078 | $4.3M | Reduce -1.0% |
| IBB iShares Biotechnology ETF | 0.43% | 32,402 | $4.1M | Reduce -5.7% |
| PAA Plains All Amer Pipeline LP | 0.42% | 200,365 | $4.0M | Add +25.1% |
| ET Energy Transfer LP | 0.42% | 214,659 | $4.0M | Reduce -41.7% |
| NVDA Nvidia Corp. | 0.41% | 36,644 | $4.0M | Reduce -4.4% |
| IXUS iShares Core Intl Stock ETF | 0.41% | 56,285 | $3.9M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 0.41% | 20,635 | $3.9M | Reduce -2.2% |
| QUAL iShares MSCI USA Quality Fac | 0.40% | 22,368 | $3.8M | Reduce -8.8% |
| IWO iShares Russell 2000 Growth | 0.38% | 14,429 | $3.7M | Reduce -5.9% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.37% | 63,588 | $3.5M | Add +2.5% |
| ARKW ARK Next Generation Technolo | 0.36% | 36,922 | $3.5M | Reduce -6.4% |
| DVYE iShares Emerging Markets Div | 0.35% | 122,221 | $3.3M | Add +3.6% |
| XLI SS Industrial Select Sector | 0.34% | 24,738 | $3.2M | Add +42.8% |
| MAN Manpowergroup Inc. | 0.33% | 54,618 | $3.2M | Add +48.1% |
| VXUS Vanguard Total Intl Stock | 0.31% | 48,572 | $3.0M | Add +1.8% |
| JPM JPMorgan Chase & Co. | 0.28% | 10,819 | $2.7M | Add +2.3% |
| ASB Associated Banc-Corp. | 0.27% | 115,371 | $2.6M | Add +13.6% |
| JEPI JPMorgan Equity Premium Inco | 0.27% | 45,118 | $2.6M | Reduce -65.6% |
| SHW The Sherwin-Williams Co. | 0.26% | 7,226 | $2.5M | Reduce -0.7% |
| VIG Vanguard Dividend Apprec ETF | 0.26% | 13,000 | $2.5M | Add +1.6% |
| GNR State Street SPDR S&P Global | 0.25% | 45,180 | $2.4M | Add +7.6% |
| TSLA Tesla Inc. | 0.24% | 9,058 | $2.3M | Reduce -1.7% |
| PG The Procter & Gamble Co. | 0.24% | 13,504 | $2.3M | Reduce -3.1% |
| IDV iShares International Select | 0.23% | 71,313 | $2.2M | Add +29.6% |
| LNTH Lantheus Holdings Inc. | 0.23% | 22,373 | $2.2M | Reduce -11.8% |
| DVY iShares Select Dividend ETF | 0.22% | 15,676 | $2.1M | Add +3.0% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.22% | 40,467 | $2.1M | Reduce -70.2% |
| CIBR First Trust Nasdaq Cybersecu | 0.21% | 32,566 | $2.1M | Add +0.3% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.20% | 36,615 | $1.9M | Reduce -0.5% |
| IBDR iShares Ibonds Dec 2026 Term | 0.19% | 76,763 | $1.9M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.19% | 15,203 | $1.8M | Reduce -2.8% |
| GLD SPDR Gold Shares | 0.18% | 6,133 | $1.8M | Reduce -0.8% |
| BX Blackstone Inc. | 0.18% | 12,189 | $1.7M | No change |
| ARKK ARK Innovation ETF | 0.17% | 35,197 | $1.7M | Reduce -16.5% |
| IWR iShares Russell Mid-Cap ETF | 0.17% | 19,456 | $1.7M | Add +3.3% |
| VWO Vanguard Ftse Emerging Marke | 0.17% | 36,298 | $1.6M | Reduce -0.7% |
| GSL Global Ship Lease Inc. Class A | 0.17% | 70,617 | $1.6M | Add +137.1% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.17% | 39,178 | $1.6M | Add +0.0% |
| QQQM Invesco Nasdaq 100 ETF | 0.17% | 8,233 | $1.6M | Reduce -5.9% |
| IHAK iShares Cybersecurity & Tech | 0.16% | 32,138 | $1.5M | No change |
| SUN Sunoco LP | 0.16% | 25,805 | $1.5M | New |
| ABBV Abbvie Inc. | 0.16% | 7,137 | $1.5M | Reduce -7.2% |
| XLP SS Consumer Staples Sel Sect | 0.15% | 17,955 | $1.5M | Add +3.5% |
| IXJ iShares Global Healthcare Et | 0.15% | 15,940 | $1.5M | No change |
| DTH Wisdomtree International Hig | 0.15% | 33,802 | $1.4M | No change |
| PFF iShares Preferred & Income S | 0.15% | 46,539 | $1.4M | Add +3.8% |
| BANC Banc of California Inc. | 0.15% | 99,722 | $1.4M | Add +0.6% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.15% | 11,694 | $1.4M | Reduce -2.4% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.14% | 4,335 | $1.3M | No change |
| KXI iShares Global Consumer Stap | 0.14% | 20,700 | $1.3M | No change |
| IGM iShares Expanded Tech Sector | 0.14% | 14,340 | $1.3M | No change |
| IWV iShares Russell 3000 ETF | 0.13% | 4,023 | $1.3M | Reduce -15.3% |
| IVE iShares S&P 500 Value ETF | 0.13% | 6,367 | $1.2M | Reduce -2.4% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $262K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 212 | $262K | No change |
| PSEWF Paysafe Ltd. -CW26 | *W EXP 03/30/202 | 33,333 | $517 | No change |
Total filed on the 13F, all lines: $959.8M.
Portfolio Sells Q4 2024 → Q1 2025
| AMLP Alerian MLP ETF | Sold out | 0.00% | −1.28 |
| FIS Fidelity National Info Serv | Reduce -31.9% | 1.43% | −0.73 |
| JEPQ JPM Nasdaq Equity Premium | Reduce -70.2% | 0.22% | −0.55 |
| SPYI Neos S&P 500 High Income ETF | Reduce -82.3% | 0.11% | −0.52 |
| JEPI JPMorgan Equity Premium Inco | Reduce -65.6% | 0.27% | −0.48 |
| ET Energy Transfer LP | Reduce -41.7% | 0.42% | −0.30 |
| AAPL Apple Inc. | Reduce -2.0% | 1.83% | −0.17 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −0.14 |
| IVV iShares Core S&P 500 ETF | Reduce -2.6% | 6.09% | −0.14 |
| TSLA Tesla Inc. | Reduce -1.7% | 0.24% | −0.12 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.2% | 2.01% | −0.12 |
| IWF iShares Russell 1000 Growth | Reduce -1.6% | 1.62% | −0.12 |
| SGOV iShares 0-3 Month Treasury B | Reduce -13.1% | 1.30% | −0.12 |
| XBI SS SPDR S&P Biotech ETF | Reduce -8.2% | 0.71% | −0.11 |
| ITOT iShares Core S&P Total U.S. | Reduce -7.8% | 1.19% | −0.10 |
| NVDA Nvidia Corp. | Reduce -4.4% | 0.41% | −0.10 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -72.6% | 0.03% | −0.09 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.0% | 2.08% | −0.07 |
| MAR Marriott International Class A | Sold out | 0.00% | −0.07 |
| IBDQ iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -46.5% | 0.12% | −0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.3% | 3.22% | −0.06 |
| MSFT Microsoft Corp. | Reduce -4.6% | 0.53% | −0.06 |
| ARKK ARK Innovation ETF | Reduce -16.5% | 0.17% | −0.06 |
| ARKW ARK Next Generation Technolo | Reduce -6.4% | 0.36% | −0.06 |
| SCHA Schwab US Small-Cap ETF | Reduce -65.9% | 0.03% | −0.05 |
| IWO iShares Russell 2000 Growth | Reduce -5.9% | 0.38% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -2.2% | 0.41% | −0.05 |
| EEM iShares MSCI Emerging Market | Reduce -35.1% | 0.12% | −0.05 |
| VEU Vanguard Ftse All-World Ex-U | Sold out | 0.00% | −0.05 |
| FM iShares Frontier and Select | Sold out | 0.00% | −0.04 |
| IEI iShares 3-7 Year Treasury Bo | Sold out | 0.00% | −0.03 |
| QUAL iShares MSCI USA Quality Fac | Reduce -8.8% | 0.40% | −0.03 |
| RTX RTX Corp. | Sold out | 0.00% | −0.03 |
| CEG Constellation Energy | Sold out | 0.00% | −0.03 |
| XLG Invesco S&P 500 Top 50 ETF | Reduce -1.6% | 0.57% | −0.03 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.03 |
| DFIN Donnelley Financial Solution | Sold out | 0.00% | −0.03 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.03 |
| ARKF ARK Blockchain & Fintech Inn | Sold out | 0.00% | −0.03 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.03 |
| EQT Eqt Corp. | Sold out | 0.00% | −0.03 |
| IWV iShares Russell 3000 ETF | Reduce -15.3% | 0.13% | −0.02 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.02 |
| ROBO Robo Global Robotics and Aut | Sold out | 0.00% | −0.02 |
| AVAV Aerovironment Inc. | Sold out | 0.00% | −0.02 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.02 |
| AXP American Express Co. | Sold out | 0.00% | −0.02 |
| XLK SS Technology Select Sector | Sold out | 0.00% | −0.02 |
| RHI Robert Half Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| SHV iShares 0-1 Year Treasury Bo | Add +204.6% | 2.88% | +1.98 |
| UYLD Angel Oak Ultrashort Income | Add +75.7% | 2.44% | +1.12 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +208.9% | 0.92% | +0.64 |
| NATL NCR Atleos Corp. | Add +68.7% | 1.53% | +0.42 |
| FNF Fidelity National Financial | Add +0.1% | 2.06% | +0.37 |
| ARLP Alliance Resource Partners | Add +62.3% | 0.57% | +0.25 |
| XLE SS Energy Select Sector | Add +7.7% | 1.11% | +0.21 |
| MPLX MPLX LP | Add +38.6% | 0.49% | +0.19 |
| CARR Carrier Global Corp. | Add +40.0% | 0.69% | +0.18 |
| SUN Sunoco LP | New | 0.16% | +0.16 |
| PAA Plains All Amer Pipeline LP | Add +25.1% | 0.42% | +0.15 |
| MAN Manpowergroup Inc. | Add +48.1% | 0.33% | +0.12 |
| XLI SS Industrial Select Sector | Add +42.8% | 0.34% | +0.11 |
| IAU iShares Gold Trust | Add +2.6% | 0.49% | +0.11 |
| IWD iShares Russell 1000 Value E | Add +11.4% | 0.65% | +0.10 |
| GSL Global Ship Lease Inc. Class A | Add +137.1% | 0.17% | +0.10 |
| IUSV iShares Core S&P U.S. Value | Add +0.8% | 1.54% | +0.08 |
| IDV iShares International Select | Add +29.6% | 0.23% | +0.08 |
| VYM Vanguard High DVD Yield ETF | Add +2.4% | 0.99% | +0.08 |
| SHY iShares 1-3 Year Treasury Bo | Add +13.9% | 0.46% | +0.08 |
| VYX NCR Voyix Corp. | Add +47.9% | 0.88% | +0.08 |
| XLF SS Financial Select Sector | Add +0.0% | 0.96% | +0.07 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Add +4.5% | 0.62% | +0.07 |
| CARY Angel Oak Income ETF | Add +0.5% | 1.18% | +0.07 |
| IEF iShares 7-10 Year Treasury B | Add +130.6% | 0.08% | +0.05 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +3.7% | 0.48% | +0.05 |
| DVYE iShares Emerging Markets Div | Add +3.6% | 0.35% | +0.05 |
| META Meta Platforms Inc. Class A | Add +57.8% | 0.11% | +0.04 |
| GNR State Street SPDR S&P Global | Add +7.6% | 0.25% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +66.4% | 0.09% | +0.04 |
| VST Vistra Corp. | New | 0.04% | +0.04 |
| VXUS Vanguard Total Intl Stock | Add +1.8% | 0.31% | +0.04 |
| ALL Allstate Corp. | New | 0.03% | +0.03 |
| SEVN Seven Hills Realty Trust | New | 0.03% | +0.03 |
| GEV GE Vernova Inc. | New | 0.03% | +0.03 |
| ASB Associated Banc-Corp. | Add +13.6% | 0.27% | +0.03 |
| GDX Vaneck Gold Miners ETF | New | 0.03% | +0.03 |
| TLN Talen Energy Corp. | New | 0.03% | +0.03 |
| CMC Commercial Metals Co. | New | 0.03% | +0.03 |
| UNP Union Pacific Corp. | Add +38.9% | 0.08% | +0.03 |
| CCLD Carecloud Inc. | New | 0.03% | +0.03 |
| BP BP PLC-Spons ADR | New | 0.03% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +2.3% | 0.28% | +0.03 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +2.5% | 0.37% | +0.02 |
| PM Philip Morris International | Add +0.0% | 0.09% | +0.02 |
| VOO Vanguard S&P 500 ETF | Add +0.2% | 4.40% | +0.02 |
| ABT Abbott Laboratories | Add +4.6% | 0.09% | +0.02 |
| DVY iShares Select Dividend ETF | Add +3.0% | 0.22% | +0.02 |
| MRSH Marsh & McLennan Cos | New | 0.02% | +0.02 |
| SBAC SBA Communications Corp. | New | 0.02% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 296 | $1.2B | ZWS, IVV, VOO, SPY, VTI |
| Q1 2026 | 299 | $1.0B | IVV, ZWS, VOO, SPY, VTI |
| Q4 2025 | 294 | $1.1B | ZWS, IVV, VOO, SPY, VTI |
| Q3 2025 | 289 | $1.0B | ZWS, IVV, VOO, SPY, VTI |
| Q2 2025 | 285 | $1.0B | ZWS, IVV, DNB, VOO, SPY |
| Q1 2025 | 261 | $959.5M | ZWS, DNB, IVV, VOO, SPY |
| Q4 2024 | 275 | $1.0B | ZWS, DNB, IVV, VOO, SPY |
| Q3 2024 | 274 | $980.0M | ZWS, DNB, IVV, VOO, SPY |
| Q2 2024 | 274 | $912.5M | ZWS, IVV, DNB, VOO, SPY |
| Q1 2024 | 298 | $958.9M | ZWS, DNB, IVV, FIS, VYX |