Ellenbecker Investment Group

Name: Ellenbecker Investment Group 13F holdings, Q3 2025
Creator: Ellenbecker Investment Group
Published: 2025-10-14

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

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%
SRE Sempra	0.04%	3,175	$286K	Reduce -23.9%
IVW iShares S&P 500 Growth ETF	0.04%	2,285	$276K	Reduce -2.6%
APG Api Group Corp.	0.04%	7,788	$268K	No change
DFAT Dimensional US Target Value	0.04%	4,564	$266K	Add +0.2%
PFE Pfizer Inc.	0.04%	10,226	$261K	Reduce -1.4%
DFAS Dimensional US Small Cap ETF	0.04%	3,684	$252K	Add +0.1%
SHW The Sherwin-Williams Co.	0.04%	727	$252K	Add +1.8%
SNV Synovus Financial Corp.	0.04%	5,120	$251K	Add +0.8%
ET Energy Transfer LP	0.04%	14,486	$249K	No change
KLAC KLA Corp.	0.04%	223	$241K	Reduce -0.9%
ADI Analog Devices Inc.	0.04%	971	$239K	Reduce -0.9%
WY Weyerhaeuser Co.	0.04%	9,600	$238K	No change
XEL Xcel Energy Inc.	0.03%	2,897	$234K	New
LOW Lowe's Cos Inc.	0.03%	925	$233K	Reduce -2.6%
AMAT Applied Materials Inc.	0.03%	1,111	$228K	New
IGIB iShares 5-10Y Inv Grade Corp.	0.03%	4,170	$226K	Add +1.2%
VOO Vanguard S&P 500 ETF	0.03%	365	$224K	Reduce -5.7%
UMBF Umb Financial Corp.	0.03%	1,874	$222K	New
MA Mastercard Inc. Class A	0.03%	376	$214K	Add +1.6%
MPC Marathon Petroleum Corp.	0.03%	1,097	$212K	New
TIP iShares Tips Bond ETF	0.03%	1,883	$209K	Reduce -1.4%
CEG Constellation Energy	0.03%	636	$209K	New
QQQ Invesco QQQ Trust Series 1	0.03%	348	$209K	New
IBIT iShares Bitcoin Trust ETF	0.03%	3,184	$207K	New
MGEE Mge Energy Inc.	0.03%	2,455	$207K	New
VBR Vngrd Mrngst SL-CP Val ETF-U	0.03%	969	$202K	New
XLK SS Technology Select Sector	0.03%	710	$200K	New

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