Ellenbecker Investment Group
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 15, 2025), Ellenbecker Investment Group reported 111 stock positions worth $555.8 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 33.9% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 9.1%) and iShares Russell 1000 Growth (IWF, 8.2%). Compared with Q4 2024, it opened 5 new positions, sold out of 5, added to 50 and reduced 46. The biggest buy was PIMCO Multisector Bond Actv (PYLD, shares +97%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- WAUKESHA, WI
- CIK
- 0001731497
- Portfolio Value
- $555.8M (Q1 2025)
- SEC Filing
- 0001731497-25-000003 ↗ filed Apr 15, 2025
Holdings Value
Holdings 111 stocks · $555.8M
| IVV iShares Core S&P 500 ETF | 33.85% | 334,832 | $188.1M | Reduce -8.3% |
| AGG iShares Core U.S. Aggregate | 9.11% | 512,059 | $50.7M | Add +21.5% |
| IWF iShares Russell 1000 Growth | 8.17% | 125,702 | $45.4M | Add +21.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 8.16% | 204,541 | $45.4M | Reduce -10.9% |
| PYLD PIMCO Multisector Bond Actv | 5.77% | 1,216,910 | $32.1M | Add +96.7% |
| IWD iShares Russell 1000 Value E | 3.47% | 102,355 | $19.3M | Add +46.8% |
| VWO Vanguard Ftse Emerging Marke | 3.30% | 404,845 | $18.3M | Add +27.4% |
| VEA Vanguard Ftse Developed ETF | 3.24% | 354,760 | $18.0M | Reduce -0.4% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 2.20% | 238,402 | $12.2M | Add +82.8% |
| AOA iShares Core 80/20 Aggressiv | 1.77% | 128,484 | $9.8M | Add +21.5% |
| IJR iShares Core S&P Small-Cap E | 1.47% | 78,154 | $8.2M | Reduce -27.2% |
| AAPL Apple Inc. | 1.47% | 36,684 | $8.1M | Reduce -0.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.18% | 11,727 | $6.6M | Reduce -21.8% |
| AOR iShares Core 60/40 Balanced | 1.03% | 99,722 | $5.7M | Reduce -2.6% |
| MSFT Microsoft Corp. | 0.71% | 10,477 | $3.9M | Reduce -2.0% |
| FISV Fiserv Inc. | 0.71% | 17,796 | $3.9M | Reduce -0.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.69% | 14,840 | $3.8M | Reduce -2.7% |
| SCHD Schwab US DVD Equity ETF | 0.66% | 130,263 | $3.6M | Add +1.1% |
| PM Philip Morris International | 0.65% | 22,857 | $3.6M | Reduce -5.7% |
| PHYL Pgim Active High Yield Bond | 0.48% | 76,381 | $2.7M | Add +58.9% |
| USRT iShares Core US REIT ETF | 0.44% | 41,984 | $2.4M | Reduce -64.8% |
| BND Vanguard Total Bond Market | 0.41% | 31,375 | $2.3M | Reduce -19.4% |
| UNH Unitedhealth Group Inc. | 0.40% | 4,280 | $2.2M | Add +5.8% |
| NVDA Nvidia Corp. | 0.39% | 20,107 | $2.2M | Add +3.2% |
| AOM iShares Core 40/60 Moderate | 0.39% | 49,394 | $2.2M | Add +0.3% |
| MO Altria Group Inc. | 0.38% | 35,471 | $2.1M | Add +0.1% |
| WEC WEC Energy Group Inc. | 0.37% | 18,787 | $2.0M | Add +0.4% |
| IWR iShares Russell Mid-Cap ETF | 0.36% | 23,735 | $2.0M | Reduce -1.1% |
| SDY SS SPDR S&P Dividend ETF | 0.34% | 13,959 | $1.9M | Reduce -4.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.33% | 7,239 | $1.9M | Reduce -4.8% |
| PULS Pgim Ultra Short Bond ETF | 0.31% | 34,151 | $1.7M | Reduce -19.2% |
| AMZN Amazon.com Inc. | 0.29% | 8,500 | $1.6M | Add +5.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.25% | 2,565 | $1.4M | Add +0.7% |
| WMT Walmart Inc. | 0.22% | 14,167 | $1.2M | Add +5.6% |
| HON Honeywell International Inc. | 0.22% | 5,798 | $1.2M | Reduce -0.5% |
| VEU Vanguard Ftse All-World Ex-U | 0.21% | 19,648 | $1.2M | Reduce -0.6% |
| IWM iShares Russell 2000 ETF | 0.21% | 5,961 | $1.2M | Reduce -0.3% |
| ABBV Abbvie Inc. | 0.20% | 5,283 | $1.1M | Add +13.5% |
| DGRO iShares Core Dividend Growth | 0.19% | 16,805 | $1.0M | Reduce -9.8% |
| XOM Exxon Mobil Corp. | 0.19% | 8,717 | $1.0M | Reduce -0.5% |
| PEP Pepsico Inc. | 0.18% | 6,816 | $1.0M | Add +0.3% |
| UCON First Trust Smith Unconstrai | 0.16% | 36,490 | $903K | Reduce -64.6% |
| SYY Sysco Corp. | 0.16% | 11,612 | $871K | No change |
| EPD Enterprise Products Partners | 0.15% | 25,155 | $859K | Add +0.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 11,268 | $852K | Reduce -4.8% |
| ETN Eaton Corp. PLC | 0.15% | 3,112 | $846K | Reduce -2.9% |
| MTG Mgic Investment Corp. | 0.15% | 33,450 | $829K | Add +189.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.14% | 1 | $798K | New |
| HD Home Depot Inc. | 0.14% | 2,153 | $789K | Reduce -4.1% |
| DFIV Dimensional International Va | 0.14% | 19,179 | $755K | Reduce -3.0% |
| JNJ Johnson & Johnson | 0.13% | 4,416 | $732K | Add +0.6% |
| META Meta Platforms Inc. Class A | 0.12% | 1,198 | $691K | Add +4.1% |
| GOOG Alphabet Inc. Class C | 0.12% | 4,374 | $683K | Add +12.4% |
| TSLA Tesla Inc. | 0.12% | 2,552 | $661K | Add +3.5% |
| ABT Abbott Laboratories | 0.12% | 4,985 | $661K | Reduce -4.2% |
| V Visa Inc. Class A | 0.12% | 1,877 | $658K | Add +2.3% |
| MRK Merck & Co. Inc. | 0.11% | 6,983 | $627K | Reduce -3.9% |
| CVX Chevron Corp. | 0.11% | 3,518 | $589K | Add +0.7% |
| MCD McDonald's Corp. | 0.11% | 1,874 | $586K | Add +0.4% |
| SCHP Schwab U.S. Tips ETF | 0.10% | 21,407 | $576K | Reduce -47.0% |
| LNT Alliant Energy Corp. | 0.10% | 8,852 | $570K | Reduce -0.8% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.10% | 7,013 | $553K | Reduce -50.6% |
| AMP Ameriprise Financial Inc. | 0.10% | 1,128 | $546K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 2,111 | $525K | Add +2.6% |
| COST Costco Wholesale Corp. | 0.09% | 551 | $522K | Add +4.4% |
| ROK Rockwell Automation Inc. | 0.09% | 2,012 | $520K | Add +1.1% |
| BMI Badger Meter Inc. | 0.09% | 2,720 | $518K | Add +0.1% |
| MAR Marriott International Class A | 0.08% | 1,980 | $472K | Add +0.1% |
| AXON Axon Enterprise Inc. | 0.08% | 887 | $467K | No change |
| KO The Coca-Cola Co. | 0.08% | 6,482 | $464K | No change |
| NFLX Netflix Inc. | 0.08% | 481 | $449K | Add +4.3% |
| T AT&T Inc. | 0.08% | 15,569 | $440K | Add +0.3% |
| KMI Kinder Morgan Inc. | 0.08% | 15,387 | $439K | No change |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.08% | 4,505 | $430K | No change |
| VONG Vanguard Russell 1000 Growth | 0.07% | 4,097 | $380K | Add +1.2% |
| MUB iShares National Muni Bond E | 0.07% | 3,528 | $372K | Reduce -17.0% |
| UNP Union Pacific Corp. | 0.07% | 1,534 | $362K | Reduce -4.1% |
| MDLZ Mondelez International Inc. Class A | 0.07% | 5,332 | $362K | Add +0.1% |
| PG The Procter & Gamble Co. | 0.06% | 2,088 | $356K | Reduce -7.8% |
| GOOGL Alphabet Inc. Class A | 0.06% | 2,246 | $347K | Add +0.0% |
| IVW iShares S&P 500 Growth ETF | 0.06% | 3,712 | $345K | Add +0.1% |
| FIS Fidelity National Info Serv | 0.06% | 4,587 | $343K | Add +0.3% |
| VOOG Vanguard S&P 500 Growth ETF | 0.06% | 1,017 | $340K | New |
| GLD SPDR Gold Shares | 0.06% | 1,125 | $324K | Add +0.4% |
| SCHX Schwab US Large-Cap ETF | 0.06% | 14,041 | $310K | Add +1.4% |
| XVV iShares ESG Select Screened | 0.06% | 7,219 | $309K | Add +0.6% |
| AVGO Broadcom Inc. | 0.05% | 1,793 | $300K | Reduce -4.2% |
| USB US Bancorp | 0.05% | 7,106 | $300K | Add +0.4% |
| JCI Johnson Controls Internation | 0.05% | 3,682 | $295K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.05% | 589 | $293K | Reduce -14.5% |
| LIN Linde PLC | 0.05% | 629 | $293K | No change |
| RTX RTX Corp. | 0.05% | 2,151 | $285K | Reduce -2.0% |
| WFC Wells Fargo & Co. | 0.05% | 3,944 | $283K | Add +0.5% |
| WY Weyerhaeuser Co. | 0.05% | 9,600 | $281K | No change |
| CAT Caterpillar Inc. | 0.05% | 842 | $278K | Add +0.2% |
| PFE Pfizer Inc. | 0.05% | 10,231 | $259K | Reduce -4.4% |
| SHW The Sherwin-Williams Co. | 0.04% | 714 | $249K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.04% | 884 | $243K | Reduce -2.0% |
| LOW Lowe's Cos Inc. | 0.04% | 1,024 | $239K | Reduce -7.8% |
| AXP American Express Co. | 0.04% | 883 | $238K | No change |
| SNV Synovus Financial Corp. | 0.04% | 5,039 | $236K | Add +0.7% |
| TIP iShares Tips Bond ETF | 0.04% | 2,116 | $235K | Reduce -68.0% |
| DFAT Dimensional US Target Value | 0.04% | 4,547 | $234K | Reduce -3.9% |
| LLY Eli Lilly & Co. | 0.04% | 280 | $232K | Reduce -2.8% |
| ORCL Oracle Corp. | 0.04% | 1,586 | $222K | Add +6.8% |
| DFAS Dimensional US Small Cap ETF | 0.04% | 3,679 | $220K | Add +0.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.04% | 4,074 | $214K | Add +0.8% |
| EFIV SS SPDR S&P 500 ESG ETF | 0.04% | 3,966 | $212K | New |
| XEL Xcel Energy Inc. | 0.04% | 2,963 | $210K | New |
| VOO Vanguard S&P 500 ETF | 0.04% | 403 | $208K | Reduce -25.1% |
| ADI Analog Devices Inc. | 0.04% | 1,011 | $204K | Reduce -3.7% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $668K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| JPMORGAN CHASE & CO (JPM 5.45 PERP P) | PFD | 2,721 | $668K | Add +21.8% |
Total filed on the 13F, all lines: $556.5M.
Portfolio Sells Q4 2024 → Q1 2025
| IVV iShares Core S&P 500 ETF | Reduce -8.3% | 33.85% | −4.62 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -10.9% | 8.16% | −1.71 |
| USRT iShares Core US REIT ETF | Reduce -64.8% | 0.44% | −0.79 |
| IJR iShares Core S&P Small-Cap E | Reduce -27.2% | 1.47% | −0.74 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -21.8% | 1.18% | −0.39 |
| UCON First Trust Smith Unconstrai | Reduce -64.6% | 0.16% | −0.29 |
| AAPL Apple Inc. | Reduce -0.6% | 1.47% | −0.19 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -50.6% | 0.10% | −0.10 |
| MSFT Microsoft Corp. | Reduce -2.0% | 0.71% | −0.10 |
| CEG Constellation Energy | Sold out | 0.00% | −0.10 |
| BND Vanguard Total Bond Market | Reduce -19.4% | 0.41% | −0.09 |
| TIP iShares Tips Bond ETF | Reduce -68.0% | 0.04% | −0.08 |
| SCHP Schwab U.S. Tips ETF | Reduce -47.0% | 0.10% | −0.08 |
| PULS Pgim Ultra Short Bond ETF | Reduce -19.2% | 0.31% | −0.07 |
| RLY SS Multi-Asset Real Ret ETF | Sold out | 0.00% | −0.05 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.05 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.04 |
| ETN Eaton Corp. PLC | Reduce -2.9% | 0.15% | −0.04 |
| UMBF Umb Financial Corp. | Sold out | 0.00% | −0.04 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -4.8% | 0.33% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -2.7% | 0.69% | −0.03 |
| AVGO Broadcom Inc. | Reduce -4.2% | 0.05% | −0.02 |
| IWM iShares Russell 2000 ETF | Reduce -0.3% | 0.21% | −0.02 |
| AOR iShares Core 60/40 Balanced | Reduce -2.6% | 1.03% | −0.02 |
| DGRO iShares Core Dividend Growth | Reduce -9.8% | 0.19% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -3.9% | 0.11% | −0.02 |
| IWR iShares Russell Mid-Cap ETF | Reduce -1.1% | 0.36% | −0.02 |
| HON Honeywell International Inc. | Reduce -0.5% | 0.22% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -25.1% | 0.04% | −0.01 |
| HD Home Depot Inc. | Reduce -4.1% | 0.14% | −0.01 |
| MUB iShares National Muni Bond E | Reduce -17.0% | 0.07% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -14.5% | 0.05% | −0.01 |
| LOW Lowe's Cos Inc. | Reduce -7.8% | 0.04% | −0.01 |
| SDY SS SPDR S&P Dividend ETF | Reduce -4.8% | 0.34% | −0.01 |
| DFAT Dimensional US Target Value | Reduce -3.9% | 0.04% | −0.01 |
| PFE Pfizer Inc. | Reduce -4.4% | 0.05% | −0.00 |
| PG The Procter & Gamble Co. | Reduce -7.8% | 0.06% | −0.00 |
| ADI Analog Devices Inc. | Reduce -3.7% | 0.04% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.0% | 0.04% | −0.00 |
| UNP Union Pacific Corp. | Reduce -4.1% | 0.07% | −0.00 |
| LLY Eli Lilly & Co. | Reduce -2.8% | 0.04% | +0.00 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -4.8% | 0.15% | +0.00 |
| RTX RTX Corp. | Reduce -2.0% | 0.05% | +0.01 |
| LNT Alliant Energy Corp. | Reduce -0.8% | 0.10% | +0.01 |
| DFIV Dimensional International Va | Reduce -3.0% | 0.14% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -0.6% | 0.21% | +0.01 |
| ABT Abbott Laboratories | Reduce -4.2% | 0.12% | +0.01 |
| XOM Exxon Mobil Corp. | Reduce -0.5% | 0.19% | +0.02 |
| FISV Fiserv Inc. | Reduce -0.9% | 0.71% | +0.05 |
| PM Philip Morris International | Reduce -5.7% | 0.65% | +0.13 |
Portfolio Buys Q4 2024 → Q1 2025
| PYLD PIMCO Multisector Bond Actv | Add +96.7% | 5.77% | +2.90 |
| AGG iShares Core U.S. Aggregate | Add +21.5% | 9.11% | +1.80 |
| IWD iShares Russell 1000 Value E | Add +46.8% | 3.47% | +1.15 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +82.8% | 2.20% | +0.92 |
| VWO Vanguard Ftse Emerging Marke | Add +27.4% | 3.30% | +0.79 |
| IWF iShares Russell 1000 Growth | Add +21.1% | 8.17% | +0.70 |
| AOA iShares Core 80/20 Aggressiv | Add +21.5% | 1.77% | +0.32 |
| PHYL Pgim Active High Yield Bond | Add +58.9% | 0.48% | +0.18 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.14% | +0.14 |
| MTG Mgic Investment Corp. | Add +189.4% | 0.15% | +0.10 |
| AMP Ameriprise Financial Inc. | New | 0.10% | +0.10 |
| VOOG Vanguard S&P 500 Growth ETF | New | 0.06% | +0.06 |
| WEC WEC Energy Group Inc. | Add +0.4% | 0.37% | +0.05 |
| MO Altria Group Inc. | Add +0.1% | 0.38% | +0.05 |
| ABBV Abbvie Inc. | Add +13.5% | 0.20% | +0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.7% | 0.25% | +0.04 |
| EFIV SS SPDR S&P 500 ESG ETF | New | 0.04% | +0.04 |
| XEL Xcel Energy Inc. | New | 0.04% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +5.8% | 0.40% | +0.04 |
| SCHD Schwab US DVD Equity ETF | Add +1.1% | 0.66% | +0.03 |
| JNJ Johnson & Johnson | Add +0.6% | 0.13% | +0.02 |
| T AT&T Inc. | Add +0.3% | 0.08% | +0.02 |
| CVX Chevron Corp. | Add +0.7% | 0.11% | +0.02 |
| V Visa Inc. Class A | Add +2.3% | 0.12% | +0.01 |
| EPD Enterprise Products Partners | Add +0.2% | 0.15% | +0.01 |
| IBM Intl Business Machines Corp. | Add +2.6% | 0.09% | +0.01 |
| GLD SPDR Gold Shares | Add +0.4% | 0.06% | +0.01 |
| MCD McDonald's Corp. | Add +0.4% | 0.11% | +0.01 |
| MDLZ Mondelez International Inc. Class A | Add +0.1% | 0.07% | +0.01 |
| COST Costco Wholesale Corp. | Add +4.4% | 0.09% | +0.01 |
| NFLX Netflix Inc. | Add +4.3% | 0.08% | +0.01 |
| AOM iShares Core 40/60 Moderate | Add +0.3% | 0.39% | +0.01 |
| WMT Walmart Inc. | Add +5.6% | 0.22% | +0.01 |
| META Meta Platforms Inc. Class A | Add +4.1% | 0.12% | +0.00 |
| WFC Wells Fargo & Co. | Add +0.5% | 0.05% | +0.00 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +0.8% | 0.04% | +0.00 |
| PEP Pepsico Inc. | Add +0.3% | 0.18% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Add +1.4% | 0.06% | −0.00 |
| XVV iShares ESG Select Screened | Add +0.6% | 0.06% | −0.00 |
| DFAS Dimensional US Small Cap ETF | Add +0.1% | 0.04% | −0.00 |
| SNV Synovus Financial Corp. | Add +0.7% | 0.04% | −0.00 |
| ORCL Oracle Corp. | Add +6.8% | 0.04% | −0.00 |
| FIS Fidelity National Info Serv | Add +0.3% | 0.06% | −0.00 |
| CAT Caterpillar Inc. | Add +0.2% | 0.05% | −0.00 |
| IVW iShares S&P 500 Growth ETF | Add +0.1% | 0.06% | −0.01 |
| VONG Vanguard Russell 1000 Growth | Add +1.2% | 0.07% | −0.01 |
| USB US Bancorp | Add +0.4% | 0.05% | −0.01 |
| ROK Rockwell Automation Inc. | Add +1.1% | 0.09% | −0.01 |
| GOOG Alphabet Inc. Class C | Add +12.4% | 0.12% | −0.01 |
| BMI Badger Meter Inc. | Add +0.1% | 0.09% | −0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| JPMORGAN CHASE & CO (JPM 5.45 PERP P) | PFD | Add +21.8% | 2,721 | $668K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 147 | $858.9M | IVV, AGG, VEA, IWF, VB |
| Q1 2026 | 132 | $741.7M | IVV, AGG, VEA, IWF, VB |
| Q4 2025 | 131 | $713.5M | IVV, AGG, IWF, VEA, VB |
| Q3 2025 | 127 | $676.8M | IVV, IWF, AGG, VB, VEA |
| Q2 2025 | 118 | $618.2M | IVV, AGG, IWF, VB, VEA |
| Q1 2025 | 111 | $555.8M | IVV, AGG, IWF, VB, PYLD |
| Q4 2024 | 111 | $558.6M | IVV, VB, IWF, AGG, VEA |
| Q3 2024 | 108 | $528.7M | IVV, VB, AGG, IWF, VEA |
| Q2 2024 | 116 | $496.5M | IVV, VB, AGG, IWF, VEA |
| Q1 2024 | 104 | $475.8M | IVV, VB, AGG, IWF, VEA |