Ellenbecker Investment Group
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 30, 2026), Ellenbecker Investment Group reported 131 stock positions worth $713.5 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 27.0% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 10.2%) and iShares Russell 1000 Growth (IWF, 9.4%). Compared with Q3 2025, it opened 11 new positions, sold out of 7, added to 73 and reduced 38. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +13%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- WAUKESHA, WI
- CIK
- 0001731497
- Portfolio Value
- $713.5M (Q4 2025)
- SEC Filing
- 0001731497-26-000001 ↗ filed Jan 30, 2026
Holdings Value
Holdings 131 stocks · $713.5M
| IVV iShares Core S&P 500 ETF | 27.02% | 281,438 | $192.8M | Reduce -3.0% |
| AGG iShares Core U.S. Aggregate | 10.24% | 731,641 | $73.1M | Add +12.8% |
| IWF iShares Russell 1000 Growth | 9.39% | 141,618 | $67.0M | Add +1.8% |
| VEA Vanguard Ftse Developed ETF | 8.33% | 951,754 | $59.5M | Add +13.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 7.29% | 201,597 | $52.0M | Add +1.3% |
| PYLD PIMCO Multisector Bond Actv | 5.96% | 1,592,749 | $42.5M | Add +8.2% |
| IWD iShares Russell 1000 Value E | 3.96% | 134,362 | $28.3M | Add +5.6% |
| VWO Vanguard Ftse Emerging Marke | 3.75% | 497,902 | $26.8M | Add +5.9% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 2.82% | 347,320 | $20.1M | Add +8.9% |
| AOA iShares Core 80/20 Aggressiv | 2.23% | 177,854 | $15.9M | Add +22.1% |
| AAPL Apple Inc. | 1.47% | 38,676 | $10.5M | Add +4.7% |
| IJR iShares Core S&P Small-Cap E | 1.15% | 67,991 | $8.2M | Reduce -4.8% |
| AOR iShares Core 60/40 Balanced | 1.03% | 113,071 | $7.4M | Add +10.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.98% | 10,264 | $7.0M | Reduce -2.0% |
| PHYL Pgim Active High Yield Bond | 0.77% | 154,374 | $5.5M | Add +26.9% |
| MSFT Microsoft Corp. | 0.74% | 10,898 | $5.3M | Add +1.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.55% | 13,507 | $3.9M | Add +0.7% |
| NVDA Nvidia Corp. | 0.54% | 20,610 | $3.8M | Add +3.2% |
| AOM iShares Core 40/60 Moderate | 0.53% | 78,592 | $3.8M | Add +39.1% |
| PM Philip Morris International | 0.51% | 22,896 | $3.7M | Add +0.1% |
| CAT Caterpillar Inc. | 0.44% | 5,492 | $3.1M | Add +583.9% |
| SCHD Schwab US DVD Equity ETF | 0.42% | 108,287 | $3.0M | Reduce -6.5% |
| WEC WEC Energy Group Inc. | 0.32% | 21,324 | $2.2M | Add +6.0% |
| IWR iShares Russell Mid-Cap ETF | 0.31% | 22,679 | $2.2M | Reduce -0.9% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.30% | 6,774 | $2.1M | Add +0.5% |
| SDY SS SPDR S&P Dividend ETF | 0.29% | 14,996 | $2.1M | Add +7.8% |
| AMZN Amazon.com Inc. | 0.29% | 8,865 | $2.0M | Add +1.0% |
| MO Altria Group Inc. | 0.27% | 32,970 | $1.9M | Reduce -4.1% |
| WMT Walmart Inc. | 0.23% | 14,475 | $1.6M | Add +0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.22% | 3,126 | $1.6M | Reduce -5.6% |
| IWM iShares Russell 2000 ETF | 0.21% | 5,979 | $1.5M | Add +0.5% |
| GOOG Alphabet Inc. Class C | 0.20% | 4,530 | $1.4M | Add +2.1% |
| PULS Pgim Ultra Short Bond ETF | 0.19% | 27,425 | $1.4M | Reduce -15.8% |
| TSLA Tesla Inc. | 0.18% | 2,906 | $1.3M | Reduce -7.2% |
| ABBV Abbvie Inc. | 0.18% | 5,609 | $1.3M | Add +5.2% |
| UNH Unitedhealth Group Inc. | 0.17% | 3,703 | $1.2M | Reduce -0.4% |
| USRT iShares Core US REIT ETF | 0.17% | 20,792 | $1.2M | Reduce -15.4% |
| VEU Vanguard Ftse All-World Ex-U | 0.17% | 16,033 | $1.2M | Reduce -1.3% |
| FISV Fiserv Inc. | 0.16% | 17,304 | $1.2M | Add +1.3% |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 12,288 | $1.1M | Add +9.1% |
| BND Vanguard Total Bond Market | 0.15% | 14,669 | $1.1M | Reduce -17.4% |
| HON Honeywell International Inc. | 0.15% | 5,487 | $1.1M | Reduce -5.5% |
| GOOGL Alphabet Inc. Class A | 0.14% | 3,237 | $1.0M | Add +1.3% |
| XOM Exxon Mobil Corp. | 0.14% | 8,366 | $1.0M | Reduce -6.9% |
| DFIV Dimensional International Va | 0.14% | 19,552 | $976K | Add +0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 3,175 | $941K | Add +0.2% |
| ETN Eaton Corp. PLC | 0.13% | 2,811 | $895K | Add +3.8% |
| JNJ Johnson & Johnson | 0.13% | 4,322 | $895K | Add +2.0% |
| LLY Eli Lilly & Co. | 0.12% | 779 | $838K | Add +93.8% |
| EPD Enterprise Products Partners | 0.11% | 25,319 | $812K | Add +0.2% |
| META Meta Platforms Inc. Class A | 0.11% | 1,229 | $812K | Add +4.7% |
| PEP Pepsico Inc. | 0.11% | 5,593 | $803K | Reduce -8.8% |
| EFIV SS SPDR S&P 500 ESG ETF | 0.11% | 11,738 | $776K | Add +30.9% |
| SYY Sysco Corp. | 0.11% | 10,397 | $766K | Reduce -10.5% |
| AVGO Broadcom Inc. | 0.11% | 2,206 | $764K | Add +13.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.11% | 1 | $755K | No change |
| V Visa Inc. Class A | 0.11% | 2,138 | $750K | Add +13.7% |
| MRK Merck & Co. Inc. | 0.10% | 6,953 | $732K | Reduce -0.2% |
| HD Home Depot Inc. | 0.10% | 2,081 | $716K | Reduce -1.6% |
| ABT Abbott Laboratories | 0.09% | 5,403 | $677K | Add +6.1% |
| ROK Rockwell Automation Inc. | 0.09% | 1,635 | $636K | Reduce -6.8% |
| MAR Marriott International Class A | 0.09% | 1,988 | $617K | Add +0.1% |
| ORCL Oracle Corp. | 0.08% | 3,090 | $602K | Add +89.3% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.08% | 4,505 | $585K | No change |
| MTG Mgic Investment Corp. | 0.08% | 19,606 | $573K | Add +0.0% |
| LNT Alliant Energy Corp. | 0.08% | 8,764 | $570K | Add +0.1% |
| CVX Chevron Corp. | 0.08% | 3,532 | $538K | Add +0.2% |
| AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO | 0.08% | 8,218 | $538K | New |
| FAST Fastenal Co. | 0.07% | 13,297 | $534K | Add +0.0% |
| GLD SPDR Gold Shares | 0.07% | 1,321 | $524K | Add +2.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.07% | 6,475 | $522K | Add +1.1% |
| COST Costco Wholesale Corp. | 0.07% | 593 | $512K | Add +3.5% |
| AXON Axon Enterprise Inc. | 0.07% | 867 | $492K | Add +40.5% |
| VONG Vanguard Russell 1000 Growth | 0.07% | 3,966 | $483K | Reduce -45.1% |
| BMI Badger Meter Inc. | 0.07% | 2,713 | $473K | No change |
| KO The Coca-Cola Co. | 0.07% | 6,741 | $471K | Reduce -0.5% |
| T AT&T Inc. | 0.07% | 18,768 | $466K | Add +4.2% |
| JCI Johnson Controls Internation | 0.06% | 3,697 | $443K | No change |
| RTX RTX Corp. | 0.06% | 2,401 | $441K | Add +10.5% |
| MCD McDonald's Corp. | 0.06% | 1,430 | $437K | Reduce -15.2% |
| SCHP Schwab U.S. Tips ETF | 0.06% | 16,161 | $428K | Reduce -0.4% |
| KMI Kinder Morgan Inc. | 0.06% | 15,387 | $423K | Reduce -1.0% |
| VOO Vanguard S&P 500 ETF | 0.06% | 659 | $414K | Add +80.5% |
| DGRO iShares Core Dividend Growth | 0.06% | 5,913 | $411K | Reduce -49.7% |
| WFC Wells Fargo & Co. | 0.06% | 4,278 | $399K | Add +7.4% |
| NFLX Netflix Inc. | 0.05% | 4,176 | $392K | Reduce -10.0% |
| SPMO Invesco S&P 500 Momentum ETF | 0.05% | 3,171 | $378K | Reduce -17.0% |
| XVV iShares ESG Select Screened | 0.05% | 7,071 | $373K | Reduce -4.2% |
| EAGG iShares ESG Aware US Aggrega | 0.05% | 7,375 | $353K | New |
| PG The Procter & Gamble Co. | 0.05% | 2,404 | $345K | Add +11.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.05% | 1,002 | $336K | Add +11.7% |
| IVW iShares S&P 500 Growth ETF | 0.05% | 2,694 | $332K | Add +17.9% |
| KLAC KLA Corp. | 0.05% | 272 | $331K | Add +22.0% |
| UCON First Trust Smith Unconstrai | 0.05% | 12,901 | $325K | Reduce -25.6% |
| USB US Bancorp | 0.04% | 5,891 | $314K | Reduce -3.4% |
| APG Api Group Corp. | 0.04% | 8,135 | $311K | Add +4.5% |
| SCHX Schwab US Large-Cap ETF | 0.04% | 11,294 | $304K | Reduce -9.3% |
| UNP Union Pacific Corp. | 0.04% | 1,276 | $295K | Reduce -12.1% |
| AMAT Applied Materials Inc. | 0.04% | 1,113 | $286K | Add +0.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.04% | 607 | $285K | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| JPMORGAN CHASE & CO (JPM 5.45 PERP P) | PFD | 3,704 | $1.2M | Add +22.6% |
Total filed on the 13F, all lines: $714.7M.
Portfolio Sells Q3 2025 → Q4 2025
| IVV iShares Core S&P 500 ETF | Reduce -3.0% | 27.02% | −1.66 |
| IJR iShares Core S&P Small-Cap E | Reduce -4.8% | 1.15% | −0.11 |
| MO Altria Group Inc. | Reduce -4.1% | 0.27% | −0.07 |
| VONG Vanguard Russell 1000 Growth | Reduce -45.1% | 0.07% | −0.06 |
| DGRO iShares Core Dividend Growth | Reduce -49.7% | 0.06% | −0.06 |
| VONV Vanguard Russell 1000 Value | Sold out | 0.00% | −0.05 |
| SCHD Schwab US DVD Equity ETF | Reduce -6.5% | 0.42% | −0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.0% | 0.98% | −0.05 |
| PULS Pgim Ultra Short Bond ETF | Reduce -15.8% | 0.19% | −0.05 |
| USRT iShares Core US REIT ETF | Reduce -15.4% | 0.17% | −0.05 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.04 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.04 |
| BND Vanguard Total Bond Market | Reduce -17.4% | 0.15% | −0.04 |
| SYY Sysco Corp. | Reduce -10.5% | 0.11% | −0.03 |
| IGIB iShares 5-10Y Inv Grade Corp. | Sold out | 0.00% | −0.03 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −0.03 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.03 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −0.03 |
| HON Honeywell International Inc. | Reduce -5.5% | 0.15% | −0.03 |
| NFLX Netflix Inc. | Reduce -10.0% | 0.05% | −0.03 |
| HD Home Depot Inc. | Reduce -1.6% | 0.10% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -5.6% | 0.22% | −0.03 |
| TSLA Tesla Inc. | Reduce -7.2% | 0.18% | −0.02 |
| IWR iShares Russell Mid-Cap ETF | Reduce -0.9% | 0.31% | −0.02 |
| UCON First Trust Smith Unconstrai | Reduce -25.6% | 0.05% | −0.02 |
| UNH Unitedhealth Group Inc. | Reduce -0.4% | 0.17% | −0.02 |
| SPMO Invesco S&P 500 Momentum ETF | Reduce -17.0% | 0.05% | −0.02 |
| PEP Pepsico Inc. | Reduce -8.8% | 0.11% | −0.01 |
| MCD McDonald's Corp. | Reduce -15.2% | 0.06% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.4% | 0.04% | −0.01 |
| UNP Union Pacific Corp. | Reduce -12.1% | 0.04% | −0.01 |
| XOM Exxon Mobil Corp. | Reduce -6.9% | 0.14% | −0.01 |
| FIS Fidelity National Info Serv | Reduce -12.5% | 0.04% | −0.01 |
| MUB iShares National Muni Bond E | Reduce -9.3% | 0.04% | −0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -1.3% | 0.17% | −0.01 |
| SCHX Schwab US Large-Cap ETF | Reduce -9.3% | 0.04% | −0.01 |
| KMI Kinder Morgan Inc. | Reduce -1.0% | 0.06% | −0.01 |
| SCHP Schwab U.S. Tips ETF | Reduce -0.4% | 0.06% | −0.00 |
| AXP American Express Co. | Reduce -14.1% | 0.04% | −0.00 |
| XVV iShares ESG Select Screened | Reduce -4.2% | 0.05% | −0.00 |
| ROK Rockwell Automation Inc. | Reduce -6.8% | 0.09% | −0.00 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.07% | −0.00 |
| USB US Bancorp | Reduce -3.4% | 0.04% | +0.00 |
| ADI Analog Devices Inc. | Reduce -1.0% | 0.04% | +0.00 |
| MRK Merck & Co. Inc. | Reduce -0.2% | 0.10% | +0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| VEA Vanguard Ftse Developed ETF | Add +13.1% | 8.33% | +0.88 |
| AGG iShares Core U.S. Aggregate | Add +12.8% | 10.24% | +0.63 |
| CAT Caterpillar Inc. | Add +583.9% | 0.44% | +0.38 |
| AOA iShares Core 80/20 Aggressiv | Add +22.1% | 2.23% | +0.33 |
| IWD iShares Russell 1000 Value E | Add +5.6% | 3.96% | +0.13 |
| AOM iShares Core 40/60 Moderate | Add +39.1% | 0.53% | +0.13 |
| PHYL Pgim Active High Yield Bond | Add +26.9% | 0.77% | +0.13 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +8.9% | 2.82% | +0.12 |
| PYLD PIMCO Multisector Bond Actv | Add +8.2% | 5.96% | +0.12 |
| AAPL Apple Inc. | Add +4.7% | 1.47% | +0.08 |
| AKRE Akre Focus ETF | New | 0.08% | +0.08 |
| LLY Eli Lilly & Co. | Add +93.8% | 0.12% | +0.07 |
| AOR iShares Core 60/40 Balanced | Add +10.1% | 1.03% | +0.05 |
| EAGG iShares ESG Aware US Aggrega | New | 0.05% | +0.05 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.04% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +2.1% | 0.20% | +0.04 |
| VANGUARD | New | 0.04% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.03% | +0.03 |
| DE Deere & Co. | New | 0.03% | +0.03 |
| AMGN Amgen Inc. | New | 0.03% | +0.03 |
| NOW ServiceNow Inc. | New | 0.03% | +0.03 |
| SCHB Schwab US Broad Market ETF | New | 0.03% | +0.03 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | New | 0.03% | +0.03 |
| DIS The Walt Disney Co. | New | 0.03% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +1.3% | 0.14% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +80.5% | 0.06% | +0.02 |
| EFIV SS SPDR S&P 500 ESG ETF | Add +30.9% | 0.11% | +0.02 |
| ORCL Oracle Corp. | Add +89.3% | 0.08% | +0.02 |
| AVGO Broadcom Inc. | Add +13.2% | 0.11% | +0.01 |
| KLAC KLA Corp. | Add +22.0% | 0.05% | +0.01 |
| V Visa Inc. Class A | Add +13.7% | 0.11% | +0.01 |
| MAR Marriott International Class A | Add +0.1% | 0.09% | +0.01 |
| JNJ Johnson & Johnson | Add +2.0% | 0.13% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +9.1% | 0.15% | +0.01 |
| RTX RTX Corp. | Add +10.5% | 0.06% | +0.01 |
| CEG Constellation Energy | Add +21.4% | 0.04% | +0.01 |
| WMT Walmart Inc. | Add +0.6% | 0.23% | +0.01 |
| AMAT Applied Materials Inc. | Add +0.2% | 0.04% | +0.01 |
| WFC Wells Fargo & Co. | Add +7.4% | 0.06% | +0.01 |
| IVW iShares S&P 500 Growth ETF | Add +17.9% | 0.05% | +0.01 |
| GLD SPDR Gold Shares | Add +2.3% | 0.07% | +0.01 |
| SDY SS SPDR S&P Dividend ETF | Add +7.8% | 0.29% | +0.00 |
| DFIV Dimensional International Va | Add +0.5% | 0.14% | +0.00 |
| APG Api Group Corp. | Add +4.5% | 0.04% | +0.00 |
| AXON Axon Enterprise Inc. | Add +40.5% | 0.07% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +11.7% | 0.05% | +0.00 |
| AMZN Amazon.com Inc. | Add +1.0% | 0.29% | +0.00 |
| LOW Lowe's Cos Inc. | Add +15.3% | 0.04% | +0.00 |
| MA Mastercard Inc. Class A | Add +10.4% | 0.03% | +0.00 |
| IBIT iShares Bitcoin Trust ETF | Add +44.3% | 0.03% | +0.00 |
Notes & Other Activity Q3 2025 → Q4 2025
| JPMORGAN CHASE & CO (JPM 5.45 PERP P) | PFD | Add +22.6% | 3,704 | $1.2M |
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 |