Ellenbecker Investment Group
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 14, 2025), Ellenbecker Investment Group reported 127 stock positions worth $676.8 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 28.7% of the portfolio, followed by iShares Russell 1000 Growth (IWF, 9.6%) and iShares Core U.S. Aggregate (AGG, 9.6%). Compared with Q2 2025, it opened 11 new positions, sold out of 2, added to 58 and reduced 48. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +27%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- WAUKESHA, WI
- CIK
- 0001731497
- Portfolio Value
- $676.8M (Q3 2025)
- SEC Filing
- 0001731497-25-000007 ↗ filed Oct 14, 2025
Holdings Value
Holdings 127 stocks · $676.8M
| IVV iShares Core S&P 500 ETF | 28.68% | 290,019 | $194.1M | Reduce -3.8% |
| IWF iShares Russell 1000 Growth | 9.63% | 139,151 | $65.2M | Add +2.8% |
| AGG iShares Core U.S. Aggregate | 9.61% | 648,841 | $65.0M | Add +8.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 7.48% | 198,973 | $50.6M | Reduce -0.7% |
| VEA Vanguard Ftse Developed ETF | 7.45% | 841,850 | $50.4M | Add +27.3% |
| PYLD PIMCO Multisector Bond Actv | 5.84% | 1,472,109 | $39.5M | Add +9.4% |
| IWD iShares Russell 1000 Value E | 3.83% | 127,243 | $25.9M | Add +7.5% |
| VWO Vanguard Ftse Emerging Marke | 3.76% | 470,091 | $25.5M | Add +5.0% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 2.70% | 319,006 | $18.2M | Add +8.2% |
| AOA iShares Core 80/20 Aggressiv | 1.90% | 145,705 | $12.8M | Add +6.4% |
| AAPL Apple Inc. | 1.39% | 36,938 | $9.4M | Reduce -1.0% |
| IJR iShares Core S&P Small-Cap E | 1.25% | 71,437 | $8.5M | Reduce -4.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.03% | 10,477 | $7.0M | Add +0.6% |
| AOR iShares Core 60/40 Balanced | 0.98% | 102,734 | $6.6M | Add +4.4% |
| MSFT Microsoft Corp. | 0.82% | 10,714 | $5.5M | Reduce -8.5% |
| PHYL Pgim Active High Yield Bond | 0.64% | 121,629 | $4.3M | Add +28.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.58% | 13,416 | $3.9M | Reduce -5.2% |
| NVDA Nvidia Corp. | 0.55% | 19,978 | $3.7M | Reduce -5.9% |
| PM Philip Morris International | 0.55% | 22,885 | $3.7M | Reduce -0.3% |
| SCHD Schwab US DVD Equity ETF | 0.47% | 115,781 | $3.2M | Reduce -6.2% |
| AOM iShares Core 40/60 Moderate | 0.40% | 56,483 | $2.7M | Add +13.0% |
| WEC WEC Energy Group Inc. | 0.34% | 20,117 | $2.3M | Add +0.5% |
| MO Altria Group Inc. | 0.34% | 34,367 | $2.3M | Reduce -1.2% |
| IWR iShares Russell Mid-Cap ETF | 0.33% | 22,889 | $2.2M | Add +0.2% |
| FISV Fiserv Inc. | 0.33% | 17,078 | $2.2M | Reduce -4.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.31% | 6,742 | $2.1M | Reduce -5.5% |
| SDY SS SPDR S&P Dividend ETF | 0.29% | 13,918 | $1.9M | Add +0.4% |
| AMZN Amazon.com Inc. | 0.28% | 8,778 | $1.9M | Add +1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.25% | 3,313 | $1.7M | Add +0.9% |
| PULS Pgim Ultra Short Bond ETF | 0.24% | 32,584 | $1.6M | Add +2.3% |
| WMT Walmart Inc. | 0.22% | 14,385 | $1.5M | Reduce -0.9% |
| USRT iShares Core US REIT ETF | 0.21% | 24,572 | $1.4M | Reduce -21.3% |
| IWM iShares Russell 2000 ETF | 0.21% | 5,947 | $1.4M | Reduce -0.4% |
| TSLA Tesla Inc. | 0.21% | 3,131 | $1.4M | Reduce -0.8% |
| BND Vanguard Total Bond Market | 0.20% | 17,758 | $1.3M | Reduce -19.6% |
| UNH Unitedhealth Group Inc. | 0.19% | 3,717 | $1.3M | Reduce -0.2% |
| ABBV Abbvie Inc. | 0.18% | 5,334 | $1.2M | Add +0.8% |
| HON Honeywell International Inc. | 0.18% | 5,803 | $1.2M | Add +0.1% |
| VEU Vanguard Ftse All-World Ex-U | 0.17% | 16,239 | $1.2M | Reduce -4.4% |
| GOOG Alphabet Inc. Class C | 0.16% | 4,436 | $1.1M | Add +0.1% |
| ETN Eaton Corp. PLC | 0.15% | 2,709 | $1.0M | Reduce -9.2% |
| XOM Exxon Mobil Corp. | 0.15% | 8,987 | $1.0M | Add +0.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 11,259 | $983K | Reduce -0.1% |
| SYY Sysco Corp. | 0.14% | 11,612 | $956K | No change |
| DFIV Dimensional International Va | 0.13% | 19,455 | $897K | Add +0.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 3,168 | $894K | Add +40.2% |
| VONG Vanguard Russell 1000 Growth | 0.13% | 7,219 | $870K | Reduce -0.9% |
| META Meta Platforms Inc. Class A | 0.13% | 1,174 | $862K | Reduce -2.0% |
| PEP Pepsico Inc. | 0.13% | 6,130 | $861K | Reduce -3.6% |
| HD Home Depot Inc. | 0.13% | 2,116 | $858K | Reduce -1.1% |
| DGRO iShares Core Dividend Growth | 0.12% | 11,750 | $800K | Reduce -1.4% |
| EPD Enterprise Products Partners | 0.12% | 25,263 | $790K | Add +0.2% |
| JNJ Johnson & Johnson | 0.12% | 4,238 | $786K | Reduce -1.0% |
| GOOGL Alphabet Inc. Class A | 0.11% | 3,195 | $777K | Add +3.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.11% | 1 | $754K | No change |
| ABT Abbott Laboratories | 0.10% | 5,093 | $682K | Add +0.4% |
| FAST Fastenal Co. | 0.10% | 13,296 | $652K | New |
| AVGO Broadcom Inc. | 0.10% | 1,949 | $643K | Add +8.3% |
| V Visa Inc. Class A | 0.09% | 1,880 | $642K | Reduce -0.1% |
| ROK Rockwell Automation Inc. | 0.09% | 1,754 | $613K | Reduce -13.0% |
| LNT Alliant Energy Corp. | 0.09% | 8,757 | $590K | Add +0.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.09% | 4,505 | $587K | No change |
| MRK Merck & Co. Inc. | 0.09% | 6,968 | $585K | Reduce -0.1% |
| EFIV SS SPDR S&P 500 ESG ETF | 0.08% | 8,967 | $570K | Add +117.9% |
| NFLX Netflix Inc. | 0.08% | 464 | $556K | Reduce -3.5% |
| MTG Mgic Investment Corp. | 0.08% | 19,601 | $556K | Add +0.0% |
| CVX Chevron Corp. | 0.08% | 3,524 | $547K | Add +0.7% |
| COST Costco Wholesale Corp. | 0.08% | 573 | $530K | Add +3.8% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.08% | 6,408 | $520K | Reduce -3.4% |
| MAR Marriott International Class A | 0.08% | 1,986 | $517K | Add +0.1% |
| MCD McDonald's Corp. | 0.08% | 1,687 | $513K | Add +0.1% |
| T AT&T Inc. | 0.08% | 18,017 | $509K | Add +18.4% |
| BMI Badger Meter Inc. | 0.07% | 2,713 | $484K | Reduce -0.4% |
| SPMO Invesco S&P 500 Momentum ETF | 0.07% | 3,819 | $462K | Add +91.6% |
| ORCL Oracle Corp. | 0.07% | 1,632 | $459K | Add +0.1% |
| GLD SPDR Gold Shares | 0.07% | 1,291 | $459K | Add +4.0% |
| KO The Coca-Cola Co. | 0.07% | 6,774 | $449K | Reduce -1.3% |
| AXON Axon Enterprise Inc. | 0.07% | 617 | $443K | No change |
| KMI Kinder Morgan Inc. | 0.07% | 15,539 | $440K | Add +1.0% |
| SCHP Schwab U.S. Tips ETF | 0.06% | 16,233 | $437K | Reduce -6.8% |
| UCON First Trust Smith Unconstrai | 0.06% | 17,343 | $437K | Reduce -21.4% |
| JCI Johnson Controls Internation | 0.06% | 3,697 | $407K | No change |
| CAT Caterpillar Inc. | 0.06% | 803 | $383K | Add +1.5% |
| XVV iShares ESG Select Screened | 0.06% | 7,378 | $380K | Add +1.2% |
| RTX RTX Corp. | 0.05% | 2,173 | $364K | No change |
| VONV Vanguard Russell 1000 Value | 0.05% | 3,920 | $350K | Add +0.6% |
| UNP Union Pacific Corp. | 0.05% | 1,451 | $343K | Add +0.1% |
| WFC Wells Fargo & Co. | 0.05% | 3,984 | $334K | Add +0.5% |
| PG The Procter & Gamble Co. | 0.05% | 2,154 | $331K | Add +2.7% |
| MDLZ Mondelez International Inc. Class A | 0.05% | 5,263 | $329K | Reduce -1.3% |
| SCHX Schwab US Large-Cap ETF | 0.05% | 12,456 | $328K | Reduce -10.1% |
| MUB iShares National Muni Bond E | 0.05% | 2,894 | $308K | Reduce -18.5% |
| LLY Eli Lilly & Co. | 0.05% | 402 | $307K | Add +30.1% |
| FIS Fidelity National Info Serv | 0.04% | 4,613 | $304K | Add +0.3% |
| LIN Linde PLC | 0.04% | 629 | $299K | No change |
| PLTR Palantir Technologies Inc. Class A | 0.04% | 1,619 | $295K | Add +3.6% |
| USB US Bancorp | 0.04% | 6,100 | $295K | Reduce -4.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.04% | 897 | $294K | Add +14.7% |
| AXP American Express Co. | 0.04% | 885 | $294K | Add +0.1% |
| TMO Thermo Fisher Scientific Inc. | 0.04% | 602 | $292K | Add +9.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $953K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| JPMORGAN CHASE & CO (JPM 5.45 PERP P) | PFD | 3,021 | $953K | Add +0.7% |
Total filed on the 13F, all lines: $677.8M.
Portfolio Sells Q2 2025 → Q3 2025
| IVV iShares Core S&P 500 ETF | Reduce -3.8% | 28.68% | −1.60 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.7% | 7.48% | −0.21 |
| FISV Fiserv Inc. | Reduce -4.0% | 0.33% | −0.17 |
| PM Philip Morris International | Reduce -0.3% | 0.55% | −0.13 |
| MSFT Microsoft Corp. | Reduce -8.5% | 0.82% | −0.12 |
| USRT iShares Core US REIT ETF | Reduce -21.3% | 0.21% | −0.07 |
| BND Vanguard Total Bond Market | Reduce -19.6% | 0.20% | −0.07 |
| IJR iShares Core S&P Small-Cap E | Reduce -4.2% | 1.25% | −0.06 |
| SCHD Schwab US DVD Equity ETF | Reduce -6.2% | 0.47% | −0.06 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -5.2% | 0.58% | −0.06 |
| MMM 3M Co. | Sold out | 0.00% | −0.04 |
| BMI Badger Meter Inc. | Reduce -0.4% | 0.07% | −0.04 |
| DE Deere & Co. | Sold out | 0.00% | −0.04 |
| UCON First Trust Smith Unconstrai | Reduce -21.4% | 0.06% | −0.02 |
| ETN Eaton Corp. PLC | Reduce -9.2% | 0.15% | −0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -5.5% | 0.31% | −0.02 |
| NFLX Netflix Inc. | Reduce -3.5% | 0.08% | −0.02 |
| ROK Rockwell Automation Inc. | Reduce -13.0% | 0.09% | −0.02 |
| META Meta Platforms Inc. Class A | Reduce -2.0% | 0.13% | −0.02 |
| MUB iShares National Muni Bond E | Reduce -18.5% | 0.05% | −0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -4.4% | 0.17% | −0.01 |
| V Visa Inc. Class A | Reduce -0.1% | 0.09% | −0.01 |
| KO The Coca-Cola Co. | Reduce -1.3% | 0.07% | −0.01 |
| SCHP Schwab U.S. Tips ETF | Reduce -6.8% | 0.06% | −0.01 |
| WMT Walmart Inc. | Reduce -0.9% | 0.22% | −0.01 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -3.4% | 0.08% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.3% | 0.05% | −0.01 |
| SRE Sempra | Reduce -23.9% | 0.04% | −0.01 |
| PEP Pepsico Inc. | Reduce -3.6% | 0.13% | −0.01 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -0.1% | 0.15% | −0.01 |
| SCHX Schwab US Large-Cap ETF | Reduce -10.1% | 0.05% | −0.01 |
| DGRO iShares Core Dividend Growth | Reduce -1.4% | 0.12% | −0.01 |
| USB US Bancorp | Reduce -4.9% | 0.04% | −0.00 |
| TIP iShares Tips Bond ETF | Reduce -1.4% | 0.03% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -0.1% | 0.09% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -5.7% | 0.03% | −0.00 |
| ADI Analog Devices Inc. | Reduce -0.9% | 0.04% | −0.00 |
| PFE Pfizer Inc. | Reduce -1.4% | 0.04% | −0.00 |
| IVW iShares S&P 500 Growth ETF | Reduce -2.6% | 0.04% | −0.00 |
| HD Home Depot Inc. | Reduce -1.1% | 0.13% | −0.00 |
| VONG Vanguard Russell 1000 Growth | Reduce -0.9% | 0.13% | −0.00 |
| LOW Lowe's Cos Inc. | Reduce -2.6% | 0.03% | +0.00 |
| UNH Unitedhealth Group Inc. | Reduce -0.2% | 0.19% | +0.00 |
| KLAC KLA Corp. | Reduce -0.9% | 0.04% | +0.00 |
| IWM iShares Russell 2000 ETF | Reduce -0.4% | 0.21% | +0.00 |
| MO Altria Group Inc. | Reduce -1.2% | 0.34% | +0.01 |
| NVDA Nvidia Corp. | Reduce -5.9% | 0.55% | +0.01 |
| JNJ Johnson & Johnson | Reduce -1.0% | 0.12% | +0.01 |
| TSLA Tesla Inc. | Reduce -0.8% | 0.21% | +0.04 |
| AAPL Apple Inc. | Reduce -1.0% | 1.39% | +0.15 |
Portfolio Buys Q2 2025 → Q3 2025
| VEA Vanguard Ftse Developed ETF | Add +27.3% | 7.45% | +1.36 |
| IWF iShares Russell 1000 Growth | Add +2.8% | 9.63% | +0.34 |
| VWO Vanguard Ftse Emerging Marke | Add +5.0% | 3.76% | +0.18 |
| IWD iShares Russell 1000 Value E | Add +7.5% | 3.83% | +0.11 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +8.2% | 2.70% | +0.10 |
| PHYL Pgim Active High Yield Bond | Add +28.4% | 0.64% | +0.10 |
| FAST Fastenal Co. | New | 0.10% | +0.10 |
| PYLD PIMCO Multisector Bond Actv | Add +9.4% | 5.84% | +0.06 |
| AOA iShares Core 80/20 Aggressiv | Add +6.4% | 1.90% | +0.05 |
| EFIV SS SPDR S&P 500 ESG ETF | Add +117.9% | 0.08% | +0.05 |
| XEL Xcel Energy Inc. | New | 0.03% | +0.03 |
| AMAT Applied Materials Inc. | New | 0.03% | +0.03 |
| UMBF Umb Financial Corp. | New | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +0.1% | 0.16% | +0.03 |
| SPMO Invesco S&P 500 Momentum ETF | Add +91.6% | 0.07% | +0.03 |
| MPC Marathon Petroleum Corp. | New | 0.03% | +0.03 |
| CEG Constellation Energy | New | 0.03% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.03% | +0.03 |
| IBIT iShares Bitcoin Trust ETF | New | 0.03% | +0.03 |
| MGEE Mge Energy Inc. | New | 0.03% | +0.03 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | New | 0.03% | +0.03 |
| XLK SS Technology Select Sector | New | 0.03% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +3.3% | 0.11% | +0.03 |
| AOM iShares Core 40/60 Moderate | Add +13.0% | 0.40% | +0.02 |
| IBM Intl Business Machines Corp. | Add +40.2% | 0.13% | +0.02 |
| ABBV Abbvie Inc. | Add +0.8% | 0.18% | +0.02 |
| AVGO Broadcom Inc. | Add +8.3% | 0.10% | +0.01 |
| ORCL Oracle Corp. | Add +0.1% | 0.07% | +0.01 |
| AGG iShares Core U.S. Aggregate | Add +8.4% | 9.61% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +3.6% | 0.04% | +0.01 |
| TMO Thermo Fisher Scientific Inc. | Add +9.3% | 0.04% | +0.01 |
| CAT Caterpillar Inc. | Add +1.5% | 0.06% | +0.01 |
| GLD SPDR Gold Shares | Add +4.0% | 0.07% | +0.01 |
| LLY Eli Lilly & Co. | Add +30.1% | 0.05% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +14.7% | 0.04% | +0.01 |
| T AT&T Inc. | Add +18.4% | 0.08% | +0.00 |
| WEC WEC Energy Group Inc. | Add +0.5% | 0.34% | +0.00 |
| LNT Alliant Energy Corp. | Add +0.1% | 0.09% | +0.00 |
| XVV iShares ESG Select Screened | Add +1.2% | 0.06% | −0.00 |
| CVX Chevron Corp. | Add +0.7% | 0.08% | −0.00 |
| DFAT Dimensional US Target Value | Add +0.2% | 0.04% | −0.00 |
| DFAS Dimensional US Small Cap ETF | Add +0.1% | 0.04% | −0.00 |
| DFIV Dimensional International Va | Add +0.3% | 0.13% | −0.00 |
| VONV Vanguard Russell 1000 Value | Add +0.6% | 0.05% | −0.00 |
| WFC Wells Fargo & Co. | Add +0.5% | 0.05% | −0.00 |
| MA Mastercard Inc. Class A | Add +1.6% | 0.03% | −0.00 |
| AXP American Express Co. | Add +0.1% | 0.04% | −0.00 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +1.2% | 0.03% | −0.00 |
| SHW The Sherwin-Williams Co. | Add +1.8% | 0.04% | −0.00 |
| AOR iShares Core 60/40 Balanced | Add +4.4% | 0.98% | −0.00 |
Notes & Other Activity Q2 2025 → Q3 2025
| JPMORGAN CHASE & CO (JPM 5.45 PERP P) | PFD | Add +0.7% | 3,021 | $953K |
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 |