Evanson Asset Management, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 15, 2025), Evanson Asset Management, LLC reported 323 stock positions worth $1.6 billion. Its top holding was Dimensional US Core Equity 2 (DFAC) at 8.9% of the portfolio, followed by Sprott Physical Gold Trust (PHYS, 7.6%) and Vanguard 0-3M T-Bill ETF (VBIL, 4.9%). Compared with Q1 2025, it opened 32 new positions, sold out of 14, added to 154 and reduced 62. The biggest buy was a new position in Vanguard 0-3M T-Bill ETF (VBIL) and the biggest sale Apple (AAPL, shares −18%).

Most Recent 13F
Q1 2026
Location
CARMEL, CA
CIK
0001626379
Portfolio Value
$1.6B (Q2 2025)
SEC Filing
0001085146-25-003862 ↗ filed Jul 15, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.4B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.4B Q1 2025 Q2 2025: $1.6B $1.6B Q2 2025 Q3 2025: $1.8B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $1.9B Q1 2026

Holdings 323 stocks · $1.6B
DFAC Dimensional US Core Equity 2 8.91% 3,997,319 $143.3M Add +2.8%
PHYS Sprott Physical Gold Trust 7.63% 4,843,086 $122.8M Reduce -3.6%
VBIL Vanguard 0-3M T-Bill ETF 4.94% 1,051,728 $79.5M New
DFAX Dimensional World Ex US Core 4.35% 2,385,071 $70.0M Add +0.0%
AAPL Apple Inc. 4.34% 340,073 $69.8M Reduce -18.4%
DFAS Dimensional US Small Cap ETF 4.28% 1,079,798 $68.8M Add +0.4%
DFUS Dimensional US Eq MKT ETF 3.94% 946,784 $63.5M Reduce -2.4%
DFAT Dimensional US Target Value 3.69% 1,100,428 $59.4M Add +1.4%
DFUV Dimensional US Marketwide Va 3.48% 1,324,237 $56.0M Add +1.0%
DFIV Dimensional International Va 3.47% 1,304,154 $55.9M Add +4.0%
METV Roundhill Ball Metaverse ETF 3.10% 67,495 $49.8M Add +1.5%
VTI VG Morningstar TS MKT ETF-US 3.01% 159,466 $48.5M Reduce -0.3%
DFIS Dimensional International SM 2.17% 1,172,296 $35.0M Add +3.5%
GOOGL Alphabet Inc. Class A 2.17% 198,157 $34.9M Add +0.7%
DISV Dimensional International SM 2.02% 987,935 $32.5M Add +4.3%
GOOG Alphabet Inc. Class C 2.00% 181,598 $32.2M Add +1.8%
DFSV Dimensional US Small Cap Val 1.67% 910,662 $26.8M Add +1.9%
DFIC Dimensional International Co. 1.45% 750,728 $23.3M Add +1.4%
VOO Vanguard S&P 500 ETF 1.38% 38,968 $22.1M Reduce -4.7%
DFAI Dimensional International Co. 1.17% 545,429 $18.9M Add +2.4%
VT Vanguard Tot World STK ETF 1.09% 136,126 $17.5M Add +0.3%
DFEM Dimensional Emrg MRKT Core 0.97% 528,357 $15.7M Add +2.1%
VTEB Vanguard Tax-Exempt Bond ETF 0.90% 296,755 $14.5M Add +14.7%
DFEV Dimensional Emrg MRKT Val 0.89% 476,845 $14.3M Add +4.1%
MSFT Microsoft Corp. 0.88% 28,397 $14.1M Add +3.9%
DFLV Dim US Large Cap Value ETF 0.84% 436,327 $13.5M Add +0.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.83% 21,536 $13.3M Add +0.8%
NVDA Nvidia Corp. 0.75% 76,580 $12.1M Add +4.3%
BRK.B Berkshire Hathaway Inc. Class B 0.73% 24,211 $11.8M Add +14.2%
AMZN Amazon.com Inc. 0.62% 45,406 $10.0M Reduce -29.6%
ALRM Alarm.com Holdings Inc. 0.60% 169,511 $9.6M Reduce -0.2%
DFGR Dim Global Real Estate ETF 0.59% 352,445 $9.5M Add +5.7%
IJS iShares S&P Small-Cap 600 Va 0.48% 77,392 $7.7M Reduce -0.7%
DHS Wisdomtree US High Dividend 0.48% 79,833 $7.7M Reduce -1.4%
VYM Vanguard High DVD Yield ETF 0.46% 55,442 $7.4M Add +0.2%
IWB iShares Russell 1000 ETF 0.42% 19,815 $6.7M Add +0.1%
CSCO Cisco Systems Inc. 0.40% 92,823 $6.4M Add +3.3%
DLS Wisdomtree Intl S/C DVD Fund 0.40% 84,915 $6.4M Add +0.3%
ACN Accenture PLC Class A 0.34% 18,370 $5.5M Reduce -0.1%
VXUS Vanguard Total Intl Stock 0.31% 72,317 $5.0M Add +8.1%
XLK SS Technology Select Sector 0.29% 18,256 $4.6M Add +0.1%
VNQ Vanguard Real Estate ETF 0.28% 50,658 $4.5M Add +0.9%
BSVO EA Bridgeway Omni Sm-Cp Val 0.28% 218,568 $4.5M Add +17.3%
VIG Vanguard Dividend Apprec ETF 0.28% 21,675 $4.4M Add +5.9%
IWF iShares Russell 1000 Growth 0.27% 10,096 $4.3M Reduce -0.0%
DFAW Dimensional World Eqty ETF 0.26% 62,525 $4.2M Add +7.6%
DTH Wisdomtree International Hig 0.26% 90,075 $4.2M Reduce -6.6%
DFNM Dimensional National Muni BD 0.24% 81,687 $3.9M Reduce -3.7%
DFAR Dimensional US Real Est ETF 0.23% 157,166 $3.7M Add +4.0%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.22% 12,565 $3.6M Reduce -1.4%
VB Vanguard Most SM-Cap ETF-Usd 0.22% 15,058 $3.6M Add +72.8%
VTV Vanguard Mrngstr Val ETF-Aui 0.22% 19,766 $3.5M Reduce -0.9%
IVV iShares Core S&P 500 ETF 0.22% 5,594 $3.5M Reduce -0.1%
VEA Vanguard Ftse Developed ETF 0.20% 55,561 $3.2M Add +0.6%
VSS Vanguard Ftse All Wo X-US SC 0.20% 23,502 $3.2M Add +4.8%
EFA iShares MSCI Eafe ETF 0.19% 34,836 $3.1M Reduce -0.4%
DUHP Dimensional US High Profi Et 0.19% 85,381 $3.0M Reduce -13.6%
DES Wisdomtree US Smallcap Divid 0.19% 95,087 $3.0M Add +2.9%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.19% 15,372 $3.0M Add +15.3%
SLV iShares Silver Trust 0.19% 91,043 $3.0M Reduce -0.8%
TSLA Tesla Inc. 0.18% 9,076 $2.9M Add +0.9%
ABCS Alpha Blue Cap US S-M DYN 0.18% 100,083 $2.9M Reduce -0.9%
DIHP Dimensional International Hi 0.17% 95,327 $2.8M Add +15.7%
IEFA iShares Core MSCI Eafe ETF 0.17% 33,564 $2.8M Add +2.8%
IWD iShares Russell 1000 Value E 0.17% 14,328 $2.8M Reduce -0.0%
OKE Oneok Inc. 0.17% 33,213 $2.7M Reduce -4.9%
VUG Vanguard Mrngstar GR ETF-Sui 0.16% 5,752 $2.5M Add +1.6%
VTES Vanguard SH Term Tax-Ex Bond 0.16% 24,905 $2.5M Add +0.3%
VPL Vanguard Ftse Pacific ETF 0.15% 30,294 $2.5M Add +0.1%
BND Vanguard Total Bond Market 0.15% 33,532 $2.5M Add +14.5%
VWO Vanguard Ftse Emerging Marke 0.15% 49,784 $2.5M Add +2.6%
VYMI Vanguard Int High DVD YLD Inc. 0.15% 30,492 $2.4M No change
VGK Vanguard Ftse Europe ETF 0.15% 30,617 $2.4M Add +0.6%
IVW iShares S&P 500 Growth ETF 0.15% 21,447 $2.4M Reduce -0.1%
XOM Exxon Mobil Corp. 0.15% 21,741 $2.3M Add +0.3%
VEU Vanguard Ftse All-World Ex-U 0.15% 34,813 $2.3M Add +528.4%
CVX Chevron Corp. 0.14% 15,859 $2.3M Add +1.1%
JNJ Johnson & Johnson 0.14% 14,577 $2.2M Add +12.4%
IJR iShares Core S&P Small-Cap E 0.14% 20,186 $2.2M Reduce -0.8%
VGT Vanguard Info Tech ETF 0.13% 3,170 $2.1M Reduce -12.6%
BSV Vanguard Short-Term Bond ETF 0.13% 25,633 $2.0M Add +0.6%
AVGE Avantis All Eqty Mrkts ETF 0.12% 25,722 $2.0M Add +7.6%
DFAE Dimensional Emerging Core Eq 0.12% 68,778 $2.0M Reduce -11.0%
EPD Enterprise Products Partners 0.12% 62,829 $1.9M Reduce -13.7%
DVY iShares Select Dividend ETF 0.12% 14,047 $1.9M Reduce -11.3%
QQQM Invesco Nasdaq 100 ETF 0.12% 8,175 $1.9M Add +21.5%
AMD Advanced Micro Devices 0.11% 12,474 $1.8M Reduce -1.1%
IYR iShares US Real Estate ETF 0.11% 18,372 $1.7M No change
VFH Vanguard Financials ETF 0.11% 13,617 $1.7M Reduce -0.4%
IWC iShares Micro-Cap ETF 0.11% 13,547 $1.7M Add +0.1%
ADBE Adobe Inc. 0.11% 4,430 $1.7M Reduce -0.1%
PG The Procter & Gamble Co. 0.11% 10,608 $1.7M Add +14.3%
SPYM Ste STR SPDR PT S&P 500 ETF 0.10% 23,166 $1.7M Add +21.1%
AVDE Avantis International Equity 0.10% 22,463 $1.7M Add +1.2%
SCHF Schwab Intl Equity ETF 0.10% 74,607 $1.6M Reduce -0.3%
AVUV Avantis US Small Cap Value 0.10% 18,082 $1.6M Add +4.6%
JPM JPMorgan Chase & Co. 0.10% 5,661 $1.6M Add +28.6%
VDE Vanguard Energy ETF 0.10% 13,763 $1.6M Add +0.1%
SCHX Schwab US Large-Cap ETF 0.10% 67,000 $1.6M Add +0.1%
AVGV Avantis All Eq MKTS Val ETF 0.10% 25,000 $1.6M Add +15.5%
RWAY Runway Growth Finance Corp. 0.10% 150,467 $1.6M New
AVDV Avantis Intl S/C Value ETF 0.10% 20,320 $1.6M Add +1.5%
SCHD Schwab US DVD Equity ETF 0.10% 60,726 $1.6M Add +0.0%
SCZ iShares MSCI Eafe Small-Cap 0.10% 22,113 $1.6M No change
LLY Eli Lilly & Co. 0.10% 2,035 $1.6M Add +19.0%
VCR Vanguard Consumer Discre ETF 0.10% 4,370 $1.6M Add +0.1%
DFCF Dimensional Core Fixed Inc. 0.10% 37,167 $1.6M Add +0.4%
XYZ Block Inc. 0.10% 22,500 $1.5M No change
BRK.A Berkshire Hathaway Inc. Class A 0.09% 2 $1.5M No change
COST Costco Wholesale Corp. 0.09% 1,446 $1.4M Add +130.6%
MA Mastercard Inc. Class A 0.09% 2,502 $1.4M No change
APPF Appfolio Inc. Class A 0.09% 6,000 $1.4M Reduce -1.4%
INTU Intuit Inc. 0.08% 1,663 $1.3M No change
AXP American Express Co. 0.08% 4,040 $1.3M Add +1.3%
IGV iShares Expanded Tech-Softwa 0.08% 11,226 $1.2M No change
XLI SS Industrial Select Sector 0.07% 8,138 $1.2M Reduce -0.7%
DGS Wisdomtree Em Small Cap 0.07% 21,420 $1.2M Reduce -1.9%
MDY State Street SPDR S&P Midcap 0.07% 2,061 $1.2M Add +5.8%
CORT Corcept Therapeutics Inc. 0.07% 15,718 $1.2M Reduce -24.9%
EEM iShares MSCI Emerging Market 0.07% 23,888 $1.2M Add +0.0%
DEM Wisdomtree Emerging Markets 0.07% 25,331 $1.1M Reduce -23.7%
DEHP Dimensional Emrg MRK Hi Prof 0.07% 40,815 $1.1M Add +0.5%
JPST JPMorgan Ultra-Short Income 0.07% 22,388 $1.1M Add +104.4%
AVUS Avantis U.S. Equity ETF 0.07% 11,184 $1.1M Add +12.8%
IWM iShares Russell 2000 ETF 0.07% 5,092 $1.1M Reduce -0.3%
PFF iShares Preferred & Income S 0.07% 35,695 $1.1M New
ORCL Oracle Corp. 0.07% 4,959 $1.1M Reduce -10.7%
ABBV Abbvie Inc. 0.07% 5,831 $1.1M Add +36.2%
SYLD Cambria Shareholder Yield Et 0.07% 16,483 $1.1M No change
VTIP Vanguard Short-Term Tips 0.07% 21,172 $1.1M Add +20.4%
SCHO Schwab Short-Term US Treas 0.07% 43,487 $1.1M Reduce -9.4%
SHY iShares 1-3 Year Treasury Bo 0.07% 12,675 $1.1M Add +32.7%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.07% 3,743 $1.0M Add +5.1%
GSG iShares S&P Gsci Commodity I 0.06% 47,347 $1.0M No change
IJH iShares Core S&P Midcap ETF 0.06% 16,444 $1.0M Add +0.1%
PM Philip Morris International 0.06% 5,577 $1.0M Add +6.1%
IWN iShares Russell 2000 Value E 0.06% 6,427 $1.0M No change
DXIV Dimensional Intr Vtor E ETF 0.06% 17,419 $1.0M Add +0.9%
EFV iShares MSCI Eafe Value ETF 0.06% 15,642 $993K Add +62.1%
NFLX Netflix Inc. 0.06% 729 $976K No change
IEMG iShares Core MSCI Emerging 0.06% 16,128 $968K Add +2.6%
HD Home Depot Inc. 0.06% 2,623 $962K Add +61.6%
AVIV Avantis Intl LRG Cap Val ETF 0.06% 15,336 $954K Add +1.3%
PFXF Vaneck Pref Sec X-Financials 0.06% 55,679 $953K New
SCHK Schwab 1000 Index ETF 0.06% 31,431 $937K Add +0.0%
MCD McDonald's Corp. 0.06% 3,190 $932K Add +18.0%
IVE iShares S&P 500 Value ETF 0.06% 4,725 $923K Add +0.1%
SCHB Schwab US Broad Market ETF 0.05% 36,843 $878K Add +4.3%
ICF iShares Select U.S. REIT ETF 0.05% 14,354 $878K Add +0.6%
NOW ServiceNow Inc. 0.05% 838 $861K No change
AVSC Avantis US Small Cap Equity 0.05% 16,646 $858K Add +115.7%
BNDX Vanguard Total Intl Bond ETF 0.05% 16,324 $808K Add +165.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 2,675 $788K Add +5.8%
VNQI Vanguard GLBL Ex-US Real Est 0.05% 16,909 $780K Add +45.2%
V Visa Inc. Class A 0.05% 2,178 $773K Reduce -2.8%
ENB Enbridge Inc. 0.05% 17,055 $773K New
XLP SS Consumer Staples Sel Sect 0.05% 9,526 $771K Add +0.4%
WMT Walmart Inc. 0.05% 7,845 $767K Add +0.0%
ABT Abbott Laboratories 0.05% 5,564 $757K Add +38.6%
VEEV Veeva Systems Inc. Class A 0.05% 2,599 $748K No change
AVDS Avantis Intl SM Cap Eq ETF 0.05% 11,967 $744K Add +85.9%
PYPL PayPal Holdings Inc. 0.05% 9,995 $743K Add +74.7%
FMDE Fidelity Enhanced Mid Cap Co. 0.05% 21,384 $736K Add +0.3%
TSM Taiwan Semiconductor-SP ADR 0.05% 3,234 $732K Add +45.9%
ET Energy Transfer LP 0.05% 40,315 $731K New
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.05% 1,803 $729K No change
WDAY Workday Inc. Class A 0.04% 2,890 $694K No change
DOL Wisdomtree TR DVLP Intnl-Usd 0.04% 11,596 $691K Add +0.4%
BA The Boeing Co. 0.04% 3,289 $689K Reduce -8.1%
ARCC Ares Capital Corp. 0.04% 30,657 $673K New
VUSB Vanguard Ultra Short Bond Et 0.04% 13,440 $670K Reduce -32.2%
DCOR Dimensional US Core Eq 1 ETF 0.04% 9,827 $657K Add +34.7%
VXF Vanguard Extended Market ETF 0.04% 3,388 $653K Add +124.1%
FNDX Schwab Fndmntl US LRG Co. ETF 0.04% 26,442 $649K No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.04% 15,993 $640K Add +0.1%
OKTA Okta Inc. 0.04% 6,244 $624K No change
MCHI iShares MSCI China ETF 0.04% 11,282 $622K No change
PSLV Sprott Physical Silver Trust 0.04% 50,300 $616K No change
IBIT iShares Bitcoin Trust ETF 0.04% 9,755 $597K Add +27.0%
IHF iShares U.S. Healthcare Prov 0.04% 12,199 $593K Add +0.1%
DXUV Dimensional US Vtor Eqty ETF 0.04% 10,807 $586K Reduce -25.4%
SGOV iShares 0-3 Month Treasury B 0.04% 5,705 $574K Add +17.4%
QCOM Qualcomm Inc. 0.04% 3,592 $572K Reduce -12.2%
DXYZ Destiny TECH100 Inc. 0.04% 15,000 $571K No change
BBNX Beta Bionics Inc. 0.04% 38,772 $565K No change
VGSH Vanguard Short-Term Treasury 0.03% 9,535 $560K Reduce -12.9%
SCHG Schwab US Large-Cap Growth 0.03% 19,148 $559K Reduce -5.5%
UNP Union Pacific Corp. 0.03% 2,391 $550K No change
BIV Vanguard Intermediate-Term B 0.03% 7,104 $549K Reduce -40.0%
DFAU Dimensional US Core Equity M 0.03% 12,945 $548K Reduce -56.0%
VPU Vanguard Utilities ETF 0.03% 2,982 $526K Add +77.2%
SMR Nuscale Power Corp. 0.03% 13,150 $520K Reduce -12.3%
IYY iShares Dow Jones U.S. ETF 0.03% 3,406 $514K Add +0.2%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.03% 1,844 $511K No change
MGNI Magnite Inc. 0.03% 21,171 $511K No change
SCHA Schwab US Small-Cap ETF 0.03% 20,131 $509K Add +0.3%
ITOT iShares Core S&P Total U.S. 0.03% 3,771 $509K No change
AMGN Amgen Inc. 0.03% 1,807 $505K Add +0.3%
GPI Group 1 Automotive Inc. 0.03% 1,150 $502K No change
CVLT Commvault Systems Inc. 0.03% 2,860 $499K No change
IDU iShares US Utilities ETF 0.03% 4,759 $498K Add +0.1%
IWV iShares Russell 3000 ETF 0.03% 1,406 $494K No change
IWS iShares Russell Mid-Cap Valu 0.03% 3,697 $489K No change
CAT Caterpillar Inc. 0.03% 1,250 $485K No change
DBEF Xtrackers MSCI Eafe Hedged E 0.03% 11,066 $484K Add +5.5%
WTW Willis Towers Watson PLC 0.03% 1,576 $483K No change
AEM Agnico Eagle Mines Ltd. 0.03% 4,023 $478K No change
KMI Kinder Morgan Inc. 0.03% 16,235 $477K Reduce -1.1%
ZETA Zeta Global Holdings Corp. Class A 0.03% 30,612 $474K No change
SON Sonoco Products Co. 0.03% 2,927 $471K No change
SBUX Starbucks Corp. 0.03% 5,124 $470K Add +62.1%
DON Wisdomtree US Midcap Dividen 0.03% 9,265 $464K Add +0.7%
GD General Dynamics Corp. 0.03% 1,587 $463K Add +85.2%
ADP Automatic Data Processing 0.03% 1,461 $451K No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.03% 14,066 $424K Add +0.1%
STT State Street Corp. 0.03% 3,975 $423K No change
BL Blackline Inc. 0.03% 7,350 $416K No change
BN Brookfield Corp. 0.03% 6,727 $416K New
SPDW Ste STR SPDR PT DW Eu ETF 0.03% 10,235 $414K No change
PDBC Invesco Optimum Yield Divers 0.03% 31,573 $412K No change
VCIT Vanguard Int-Term Corporate 0.03% 4,930 $409K Add +13.3%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.03% 2,482 $408K No change
TIP iShares Tips Bond ETF 0.03% 3,685 $406K Add +0.3%
VZ Verizon Communications Inc. 0.03% 9,310 $403K Add +50.9%
INFL Horizon Kinetics Infl Benef 0.03% 9,533 $402K Add +0.4%
ARKF ARK Blockchain & Fintech Inn 0.03% 8,000 $402K New
BAR Graniteshares Gold Trust 0.02% 12,204 $398K No change
APPN Appian Corp. Class A 0.02% 12,943 $386K No change
EFG iShares MSCI Eafe Growth ETF 0.02% 3,429 $384K Add +0.0%
SPOT Spotify Technology SA 0.02% 494 $379K No change
CYRX Cryoport Inc. 0.02% 50,000 $373K No change
AVEM Avantis Emerging Markets Eq 0.02% 5,441 $373K Add +1.1%
MO Altria Group Inc. 0.02% 6,341 $372K Reduce -0.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.02% 2,983 $368K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 2,941 $365K Add +0.3%
CRWD CrowdStrike Holdings Inc. Class A 0.02% 712 $363K Reduce -4.7%
ESNT Essent Group Ltd. 0.02% 5,934 $360K No change
PFE Pfizer Inc. 0.02% 14,780 $358K Add +36.0%
IEUR iShares Core MSCI Europe ETF 0.02% 5,217 $345K No change
KO The Coca-Cola Co. 0.02% 4,875 $345K New
STPZ PIMCO 1-5 Year US Tips Index 0.02% 6,306 $339K No change
ASML ASML Holding NV-NY Reg SHS 0.02% 419 $336K New
UNH Unitedhealth Group Inc. 0.02% 1,065 $332K Add +33.6%
DUSB Dimension Ultrashort Fi ETF 0.02% 6,471 $328K Add +0.8%
MELI MercadoLibre Inc. 0.02% 124 $324K New
FCX Freeport-McMoran Inc. 0.02% 7,400 $321K Add +10.4%
PEP Pepsico Inc. 0.02% 2,396 $316K Add +64.2%
SCHV Schwab US Large-Cap Value 0.02% 11,307 $313K Add +0.1%
HEFA Isha Curr Hedged MSCI Eafe 0.02% 8,231 $312K Reduce -16.3%
WELL Welltower Inc. 0.02% 1,996 $307K Add +0.4%
EEMV iShares MSCI Emg MKT Min Vol 0.02% 4,844 $304K No change
CMG Chipotle Mexican Grill Inc. 0.02% 5,413 $304K Add +6.8%
PLTR Palantir Technologies Inc. Class A 0.02% 2,218 $302K New
SMH Vaneck Semiconductor ETF 0.02% 1,080 $301K Add +13.4%
ILCG iShares Morningstar Growth E 0.02% 3,100 $300K No change
FLOT iShares Floating Rate Bond E 0.02% 5,862 $299K Add +1.2%
BMVP Invesco Bloomberg MVP Multi- 0.02% 6,021 $291K No change
MRK Merck & Co. Inc. 0.02% 3,657 $289K Add +4.5%
PH Parker Hannifin Corp. 0.02% 414 $289K No change
XLE SS Energy Select Sector 0.02% 3,401 $288K Add +1.7%
SPYX SS SPDR S&P 500 Foss FL ETF 0.02% 5,648 $288K No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.02% 8,464 $286K No change
RWO State Street SPDR Dow Jones 0.02% 6,467 $285K No change
BKNG Booking Holdings Inc. 0.02% 49 $284K Reduce -3.9%
NEE Nextera Energy Inc. 0.02% 4,059 $282K Add +0.3%
PAYX Paychex Inc. 0.02% 1,937 $282K New
SYY Sysco Corp. 0.02% 3,716 $281K New
IGSB iShares 1-5Y Inv Grade Corp. 0.02% 5,298 $279K Add +0.9%
SCHR Schwab Intermediate-Term US 0.02% 11,095 $278K Add +1.0%
XLB SS Materials Select Sector 0.02% 3,161 $278K Add +0.3%
AGI Alamos Gold Inc. Class A 0.02% 10,400 $276K No change
AVSD Avantis Reps Intern Equi ETF 0.02% 4,073 $275K Add +1.7%
ISRG Intuitive Surgical Inc. 0.02% 503 $273K New
CET Central Securities Corp. 0.02% 5,653 $271K No change
CARR Carrier Global Corp. 0.02% 3,688 $270K No change
CL Colgate-Palmolive Co. 0.02% 2,968 $270K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.02% 948 $270K No change
VONG Vanguard Russell 1000 Growth 0.02% 2,462 $269K New
IGIB iShares 5-10Y Inv Grade Corp. 0.02% 5,039 $269K Reduce -1.2%
LOW Lowe's Cos Inc. 0.02% 1,176 $261K No change
VHT Vanguard Health Care ETF 0.02% 1,043 $259K Reduce -3.6%
INTC Intel Corp. 0.02% 11,510 $258K No change
SO The Southern Co. 0.02% 2,779 $255K No change
AVRE Avantis Real Estate ETF 0.02% 5,758 $254K Add +0.7%
CRM Salesforce Inc. 0.02% 921 $251K Add +12.3%
T AT&T Inc. 0.02% 8,618 $249K Reduce -51.7%
PNC PNC Financial Services Group 0.02% 1,334 $249K New
COP Conocophillips 0.02% 2,768 $248K Add +3.8%
SPYG SS SPDR P S&P 500 Growth ETF 0.02% 2,604 $248K No change
DE Deere & Co. 0.02% 478 $243K Add +0.4%
HIO Western Asset Hi Inc. Opport 0.02% 61,000 $243K New
PDI PIMCO Dynamic Income Fund 0.02% 12,767 $242K New
GHY Pgim Global High Yield Fund 0.01% 18,000 $241K New
MUB iShares National Muni Bond E 0.01% 2,306 $241K Reduce -85.1%
IMCG iShares Morningstar Mid-Cap 0.01% 3,000 $241K No change
IUSV iShares Core S&P U.S. Value 0.01% 2,513 $238K Add +0.5%
JEPI JPMorgan Equity Premium Inco 0.01% 4,102 $233K New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.01% 2,844 $232K Reduce -56.6%
XSVM Invesco S&P Smallcap Value W 0.01% 4,455 $232K No change
STIP iShares 0-5 Year Tips Bond E 0.01% 2,241 $231K No change
IWP iShares Russell Mid-Cap Grow 0.01% 1,662 $230K New
SHW The Sherwin-Williams Co. 0.01% 671 $230K No change
AVLV Avantis US Large Cap Value 0.01% 3,349 $228K Add +7.8%
ALGN Align Technology Inc. 0.01% 1,200 $227K New
ED Consolidated Edison Inc. 0.01% 2,261 $227K Add +2.8%
GS Goldman Sachs Group Inc. 0.01% 314 $222K Reduce -20.7%
XAR SS SPDR S&P Aerospace Def 0.01% 1,038 $219K New
SCHC Schwab Intl Small-Cap Equity 0.01% 5,119 $218K New
ILCB iShares Morningstar U.S. Equ 0.01% 2,500 $214K New
NSC Norfolk Southern Corp. 0.01% 829 $212K New
AEP American Electric Power 0.01% 1,995 $207K No change
PANW Palo Alto Networks Inc. 0.01% 1,006 $206K New
FLR Fluor Corp. 0.01% 4,000 $205K New
IYW iShares Ustechnology ETF 0.01% 1,180 $204K New
WMB Williams Cos Inc. 0.01% 3,239 $203K New
KRP Kimbell Royalty Partners LP 0.01% 10,807 $151K Add +3.2%
AAL American Airlines Group Inc. 0.01% 11,084 $124K No change
COMP Compass Inc. Class A 0.01% 19,500 $122K No change
PBI Pitney Bowes Inc. 0.01% 11,064 $121K Add +0.7%
NGD New Gold Inc. 0.01% 18,584 $92K Reduce -30.1%
RWT Redwood Trust Inc. 0.01% 14,000 $83K No change
BARK Bark Inc. 0.00% 23,000 $20K No change
ATOS Atossa Therapeutics Inc. 0.00% 10,000 $8K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $598K (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 251$304KNo change
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 250$294KNo change

Total filed on the 13F, all lines: $1.6B.

Portfolio Sells Q1 2025 → Q2 2025
AAPL Apple Inc. Reduce -18.4% 4.34% −2.22
PHYS Sprott Physical Gold Trust Reduce -3.6% 7.63% −0.94
AMZN Amazon.com Inc. Reduce -29.6% 0.62% −0.25
DFUS Dimensional US Eq MKT ETF Reduce -2.4% 3.94% −0.21
VOO Vanguard S&P 500 ETF Reduce -4.7% 1.38% −0.11
VTI VG Morningstar TS MKT ETF-US Reduce -0.3% 3.01% −0.10
MUB iShares National Muni Bond E Reduce -85.1% 0.01% −0.10
CORT Corcept Therapeutics Inc. Reduce -24.9% 0.07% −0.10
DHS Wisdomtree US High Dividend Reduce -1.4% 0.48% −0.09
OKE Oneok Inc. Reduce -4.9% 0.17% −0.08
ALRM Alarm.com Holdings Inc. Reduce -0.2% 0.60% −0.07
ACN Accenture PLC Class A Reduce -0.1% 0.34% −0.07
IJS iShares S&P Small-Cap 600 Va Reduce -0.7% 0.48% −0.06
EPD Enterprise Products Partners Reduce -13.7% 0.12% −0.06
DFAU Dimensional US Core Equity M Reduce -56.0% 0.03% −0.05
DFNM Dimensional National Muni BD Reduce -3.7% 0.24% −0.05
DUHP Dimensional US High Profi Et Reduce -13.6% 0.19% −0.04
DHR Danaher Corp. Sold out 0.00% −0.04
DJP Ipath Bloomberg Commodity Inc. Sold out 0.00% −0.04
DVY iShares Select Dividend ETF Reduce -11.3% 0.12% −0.03
SHOP Shopify Inc. Class A Sold out 0.00% −0.03
DTH Wisdomtree International Hig Reduce -6.6% 0.26% −0.03
BIV Vanguard Intermediate-Term B Reduce -40.0% 0.03% −0.03
VUSB Vanguard Ultra Short Bond Et Reduce -32.2% 0.04% −0.03
DEM Wisdomtree Emerging Markets Reduce -23.7% 0.07% −0.03
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.9% 0.22% −0.03
FTNT Fortinet Inc. Sold out 0.00% −0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -56.6% 0.01% −0.02
DFCA Dimensional Calfornia MB ETF Sold out 0.00% −0.02
T AT&T Inc. Reduce -51.7% 0.02% −0.02
VRTX Vertex Pharmaceuticals Inc. Sold out 0.00% −0.02
ABCS Alpha Blue Cap US S-M DYN Reduce -0.9% 0.18% −0.02
IWD iShares Russell 1000 Value E Reduce -0.0% 0.17% −0.02
DFAE Dimensional Emerging Core Eq Reduce -11.0% 0.12% −0.02
NOBL Proshares S&P 500 Dividend A Sold out 0.00% −0.02
SCHO Schwab Short-Term US Treas Reduce -9.4% 0.07% −0.02
BINC iShares Flex I A ETF-Usd Inc. Sold out 0.00% −0.02
BIP Brookfield Infrastructure Pa Sold out 0.00% −0.02
SLV iShares Silver Trust Reduce -0.8% 0.19% −0.02
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.02
DXUV Dimensional US Vtor Eqty ETF Reduce -25.4% 0.04% −0.02
FDX FedEx Corp. Sold out 0.00% −0.02
IDV iShares International Select Sold out 0.00% −0.01
ADBE Adobe Inc. Reduce -0.1% 0.11% −0.01
IJR iShares Core S&P Small-Cap E Reduce -0.8% 0.14% −0.01
TLRY Tilray Brands Inc. Sold out 0.00% −0.01
VGSH Vanguard Short-Term Treasury Reduce -12.9% 0.03% −0.01
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -1.4% 0.22% −0.01
EFA iShares MSCI Eafe ETF Reduce -0.4% 0.19% −0.01
APPF Appfolio Inc. Class A Reduce -1.4% 0.09% −0.01

Portfolio Buys Q1 2025 → Q2 2025
VBIL Vanguard 0-3M T-Bill ETF New 4.94% +4.94
METV Roundhill Ball Metaverse ETF Add +1.5% 3.10% +0.38
NVDA Nvidia Corp. Add +4.3% 0.75% +0.19
MSFT Microsoft Corp. Add +3.9% 0.88% +0.15
VEU Vanguard Ftse All-World Ex-U Add +528.4% 0.15% +0.12
RWAY Runway Growth Finance Corp. New 0.10% +0.10
DFIS Dimensional International SM Add +3.5% 2.17% +0.10
VB Vanguard Most SM-Cap ETF-Usd Add +72.8% 0.22% +0.08
PFF iShares Preferred & Income S New 0.07% +0.07
DISV Dimensional International SM Add +4.3% 2.02% +0.07
PFXF Vaneck Pref Sec X-Financials New 0.06% +0.06
ENB Enbridge Inc. New 0.05% +0.05
COST Costco Wholesale Corp. Add +130.6% 0.09% +0.05
ET Energy Transfer LP New 0.05% +0.05
ARCC Ares Capital Corp. New 0.04% +0.04
JPST JPMorgan Ultra-Short Income Add +104.4% 0.07% +0.03
BNDX Vanguard Total Intl Bond ETF Add +165.1% 0.05% +0.03
GOOG Alphabet Inc. Class C Add +1.8% 2.00% +0.03
AVSC Avantis US Small Cap Equity Add +115.7% 0.05% +0.03
BN Brookfield Corp. New 0.03% +0.03
JPM JPMorgan Chase & Co. Add +28.6% 0.10% +0.03
ARKF ARK Blockchain & Fintech Inn New 0.03% +0.03
QQQM Invesco Nasdaq 100 ETF Add +21.5% 0.12% +0.02
VXF Vanguard Extended Market ETF Add +124.1% 0.04% +0.02
AVDS Avantis Intl SM Cap Eq ETF Add +85.9% 0.05% +0.02
KO The Coca-Cola Co. New 0.02% +0.02
EFV iShares MSCI Eafe Value ETF Add +62.1% 0.06% +0.02
ASML ASML Holding NV-NY Reg SHS New 0.02% +0.02
XLK SS Technology Select Sector Add +0.1% 0.29% +0.02
BSVO EA Bridgeway Omni Sm-Cp Val Add +17.3% 0.28% +0.02
MELI MercadoLibre Inc. New 0.02% +0.02
PYPL PayPal Holdings Inc. Add +74.7% 0.05% +0.02
TSM Taiwan Semiconductor-SP ADR Add +45.9% 0.05% +0.02
PLTR Palantir Technologies Inc. Class A New 0.02% +0.02
HD Home Depot Inc. Add +61.6% 0.06% +0.02
PAYX Paychex Inc. New 0.02% +0.02
SYY Sysco Corp. New 0.02% +0.02
DIHP Dimensional International Hi Add +15.7% 0.17% +0.02
ISRG Intuitive Surgical Inc. New 0.02% +0.02
VONG Vanguard Russell 1000 Growth New 0.02% +0.02
VXUS Vanguard Total Intl Stock Add +8.1% 0.31% +0.02
PNC PNC Financial Services Group New 0.02% +0.02
SPYM Ste STR SPDR PT S&P 500 ETF Add +21.1% 0.10% +0.02
PDI PIMCO Dynamic Income Fund New 0.02% +0.02
VNQI Vanguard GLBL Ex-US Real Est Add +45.2% 0.05% +0.02
HIO Western Asset Hi Inc. Opport New 0.02% +0.02
GHY Pgim Global High Yield Fund New 0.01% +0.01
JEPI JPMorgan Equity Premium Inco New 0.01% +0.01
IWP iShares Russell Mid-Cap Grow New 0.01% +0.01
ALGN Align Technology Inc. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2026 319$1.9BDFAC, VBIL, PHYS, DFAS, DFAX
Q4 2025 324$1.9BDFAC, VBIL, PHYS, DFAS, DFAX
Q3 2025 321$1.8BDFAC, PHYS, VBIL, DFAS, AAPL
Q2 2025 323$1.6BDFAC, PHYS, VBIL, DFAX, AAPL
Q1 2025 305$1.4BDFAC, PHYS, AAPL, DFAS, DFAX
Q4 2024 305$1.5BDFAC, PHYS, AAPL, DFAS, DFAX
Q3 2024 303$1.4BDFAC, PHYS, AAPL, DFAX, DFAS
Q2 2024 297$1.4BDFAC, PHYS, AAPL, DFAX, METV
Q1 2024 305$1.3BDFAC, PHYS, AAPL, DFAX, DFAT