Ellenbecker Investment Group

Name: Ellenbecker Investment Group 13F holdings, Q4 2025
Creator: Ellenbecker Investment Group
Published: 2026-01-30

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

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
MUB iShares National Muni Bond E	0.04%	2,626	$281K	Reduce -9.3%
AXP American Express Co.	0.04%	760	$281K	Reduce -14.1%
SRE Sempra	0.04%	3,180	$281K	Add +0.2%
MDLZ Mondelez International Inc. Class A	0.04%	5,188	$279K	Reduce -1.4%
CEG Constellation Energy	0.04%	772	$273K	Add +21.4%
PFE Pfizer Inc.	0.04%	10,946	$273K	Add +7.0%
DFAT Dimensional US Target Value	0.04%	4,571	$272K	Add +0.1%
FIS Fidelity National Info Serv	0.04%	4,036	$268K	Reduce -12.5%
LIN Linde PLC	0.04%	629	$268K	No change
VANGUARD	0.04%	541	$264K	New
ADI Analog Devices Inc.	0.04%	961	$261K	Reduce -1.0%
SNV Synovus Financial Corp.	0.04%	5,199	$260K	Add +1.5%
LOW Lowe's Cos Inc.	0.04%	1,067	$257K	Add +15.3%
DFAS Dimensional US Small Cap ETF	0.04%	3,685	$257K	Add +0.0%
ET Energy Transfer LP	0.03%	14,486	$239K	No change
MA Mastercard Inc. Class A	0.03%	415	$237K	Add +10.4%
SHW The Sherwin-Williams Co.	0.03%	727	$236K	No change
VTV Vanguard Mrngstr Val ETF-Aui	0.03%	1,199	$229K	New
IBIT iShares Bitcoin Trust ETF	0.03%	4,593	$228K	Add +44.3%
WY Weyerhaeuser Co.	0.03%	9,600	$227K	No change
VBR Vngrd Mrngst SL-CP Val ETF-U	0.03%	1,024	$217K	Add +5.7%
UMBF Umb Financial Corp.	0.03%	1,874	$216K	No change
DE Deere & Co.	0.03%	460	$214K	New
XEL Xcel Energy Inc.	0.03%	2,900	$214K	Add +0.1%
XLK SS Technology Select Sector	0.03%	1,470	$212K	Add +3.5%
AMGN Amgen Inc.	0.03%	643	$211K	New
NOW ServiceNow Inc.	0.03%	1,365	$209K	New
MGEE Mge Energy Inc.	0.03%	2,655	$208K	Add +8.2%
SCHB Schwab US Broad Market ETF	0.03%	7,716	$202K	New
VOE Vngrd Mrngstr MD-Cap Val ETF	0.03%	1,139	$202K	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.03%	1,763	$201K	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