Evanson Asset Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Evanson Asset Management, LLC reported 324 stock positions worth $1.9 billion. Its top holding was Dimensional US Core Equity 2 (DFAC) at 8.6% of the portfolio, followed by Vanguard 0-3M T-Bill ETF (VBIL, 7.8%) and Sprott Physical Gold Trust (PHYS, 7.3%). Compared with Q3 2025, it opened 12 new positions, sold out of 9, added to 166 and reduced 75. The biggest buy was Vanguard 0-3M T-Bill ETF (VBIL, shares +40%) and the biggest sale Roundhill Ball Metaverse ETF (METV, shares −40%).

Most Recent 13F
Q1 2026
Location
CARMEL, CA
CIK
0001626379
Portfolio Value
$1.9B (Q4 2025)
SEC Filing
0001626379-26-000001 ↗ filed Jan 12, 2026

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 Q2 2025 Q3 2025: $1.8B Q3 2025 Q4 2025: $1.9B $1.9B Q4 2025 Q1 2026: $1.9B Q1 2026

Holdings 324 stocks · $1.9B
DFAC Dimensional US Core Equity 2 8.55% 4,002,215 $158.4M Add +0.3%
VBIL Vanguard 0-3M T-Bill ETF 7.75% 1,904,118 $143.6M Add +39.8%
PHYS Sprott Physical Gold Trust 7.27% 4,080,010 $134.7M Reduce -10.1%
DFAS Dimensional US Small Cap ETF 4.37% 1,162,402 $81.0M Add +1.4%
DFAX Dimensional World Ex US Core 4.07% 2,303,524 $75.4M Reduce -2.0%
AAPL Apple Inc. 3.89% 265,278 $72.1M Reduce -11.0%
DFUS Dimensional US Eq MKT ETF 3.81% 950,482 $70.5M Add +3.5%
DFIV Dimensional International Va 3.74% 1,386,778 $69.2M Add +2.2%
DFAT Dimensional US Target Value 3.48% 1,083,707 $64.5M Reduce -1.1%
DFUV Dimensional US Marketwide Va 3.35% 1,333,124 $62.1M Add +1.2%
VTI VG Morningstar TS MKT ETF-US 2.95% 162,929 $54.6M Reduce -1.1%
GOOGL Alphabet Inc. Class A 2.86% 169,393 $53.0M Reduce -14.5%
GOOG Alphabet Inc. Class C 2.51% 147,959 $46.4M Reduce -19.7%
DFIS Dimensional International SM 2.38% 1,336,151 $44.0M Add +2.9%
DISV Dimensional International SM 2.34% 1,142,904 $43.4M Add +4.1%
DFSV Dimensional US Small Cap Val 1.82% 1,027,169 $33.8M Add +7.8%
VOO Vanguard S&P 500 ETF 1.63% 48,228 $30.2M Add +9.5%
DFIC Dimensional International Co. 1.49% 799,589 $27.6M Add +1.8%
METV Roundhill Ball Metaverse ETF 1.36% 38,073 $25.1M Reduce -39.7%
DFAI Dimensional International Co. 1.24% 603,362 $23.0M Add +6.6%
VT Vanguard Tot World STK ETF 1.04% 137,031 $19.3M Add +0.5%
DFEM Dimensional Emrg MRKT Core 1.03% 579,153 $19.2M Add +2.9%
DFEV Dimensional Emrg MRKT Val 1.00% 551,175 $18.6M Add +3.6%
DFLV Dim US Large Cap Value ETF 0.97% 527,946 $18.1M Add +10.3%
VTEB Vanguard Tax-Exempt Bond ETF 0.81% 299,536 $15.1M Add +12.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.79% 21,521 $14.7M Add +0.1%
MSFT Microsoft Corp. 0.73% 28,132 $13.6M Reduce -1.2%
DFGR Dim Global Real Estate ETF 0.64% 450,854 $11.9M Add +8.9%
NVDA Nvidia Corp. 0.58% 57,952 $10.8M Reduce -25.8%
BRK.B Berkshire Hathaway Inc. Class B 0.55% 20,284 $10.2M Reduce -11.2%
IJS iShares S&P Small-Cap 600 Va 0.48% 77,871 $8.9M Reduce -1.2%
ALRM Alarm.com Holdings Inc. 0.47% 168,914 $8.6M Reduce -0.3%
VYM Vanguard High DVD Yield ETF 0.45% 57,579 $8.3M Add +1.0%
DHS Wisdomtree US High Dividend 0.44% 79,658 $8.1M Reduce -0.3%
AMZN Amazon.com Inc. 0.42% 33,620 $7.8M Reduce -22.2%
IWB iShares Russell 1000 ETF 0.41% 20,528 $7.7M Add +3.5%
CSCO Cisco Systems Inc. 0.38% 92,447 $7.1M Reduce -0.1%
DLS Wisdomtree Intl S/C DVD Fund 0.37% 83,604 $6.8M Reduce -0.3%
DFAW Dimensional World Eqty ETF 0.34% 84,719 $6.3M Add +18.5%
SLV iShares Silver Trust 0.34% 96,844 $6.2M Add +4.7%
VXUS Vanguard Total Intl Stock 0.34% 82,370 $6.2M Add +2.9%
BSVO EA Bridgeway Omni Sm-Cp Val 0.29% 232,232 $5.4M Add +6.3%
XLK SS Technology Select Sector 0.28% 36,584 $5.3M Add +0.1%
ACN Accenture PLC Class A 0.27% 18,415 $4.9M Add +0.1%
IWF iShares Russell 1000 Growth 0.25% 9,778 $4.6M Reduce -3.2%
VIG Vanguard Dividend Apprec ETF 0.24% 20,029 $4.4M Reduce -5.1%
VNQ Vanguard Real Estate ETF 0.23% 48,580 $4.3M Reduce -1.2%
VB Vanguard Most SM-Cap ETF-Usd 0.23% 16,165 $4.2M Add +9.8%
VEA Vanguard Ftse Developed ETF 0.22% 63,956 $4.0M Add +11.8%
VUSB Vanguard Ultra Short Bond Et 0.21% 79,596 $4.0M Add +320.2%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.21% 12,592 $4.0M Add +0.7%
DTH Wisdomtree International Hig 0.21% 74,657 $3.9M Reduce -4.1%
VTV Vanguard Mrngstr Val ETF-Aui 0.20% 19,568 $3.7M Add +4.8%
TSLA Tesla Inc. 0.20% 8,230 $3.7M Reduce -8.7%
DFAR Dimensional US Real Est ETF 0.20% 160,324 $3.7M Add +1.3%
DIHP Dimensional International Hi 0.19% 113,404 $3.6M Add +1.3%
VSS Vanguard Ftse All Wo X-US SC 0.19% 24,656 $3.5M Add +1.6%
IEFA iShares Core MSCI Eafe ETF 0.19% 39,034 $3.5M Add +16.3%
IVV iShares Core S&P 500 ETF 0.19% 5,034 $3.4M Add +3.8%
VEU Vanguard Ftse All-World Ex-U 0.18% 46,293 $3.4M Reduce -0.4%
DUHP Dimensional US High Profi Et 0.18% 88,813 $3.4M Add +2.2%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.18% 15,818 $3.4M Add +2.3%
EFA iShares MSCI Eafe ETF 0.18% 34,637 $3.3M Reduce -0.6%
DES Wisdomtree US Smallcap Divid 0.18% 98,046 $3.3M Add +0.3%
IWD iShares Russell 1000 Value E 0.16% 14,233 $3.0M Reduce -0.7%
DFAE Dimensional Emerging Core Eq 0.16% 91,730 $3.0M Reduce -12.1%
VYMI Vanguard Int High DVD YLD Inc. 0.15% 31,741 $2.9M Add +0.1%
VWO Vanguard Ftse Emerging Marke 0.15% 51,724 $2.8M Add +0.5%
AVGE Avantis All Eqty Mrkts ETF 0.15% 32,261 $2.8M Add +10.4%
VPL Vanguard Ftse Pacific ETF 0.15% 30,207 $2.7M Reduce -2.5%
AMD Advanced Micro Devices 0.15% 12,630 $2.7M Add +0.6%
JNJ Johnson & Johnson 0.15% 12,991 $2.7M Add +0.0%
IVW iShares S&P 500 Growth ETF 0.14% 21,423 $2.6M Add +0.3%
BSV Vanguard Short-Term Bond ETF 0.14% 33,369 $2.6M Add +42.6%
CVX Chevron Corp. 0.14% 17,208 $2.6M Add +3.5%
VTES Vanguard SH Term Tax-Ex Bond 0.14% 25,468 $2.6M Reduce -1.3%
VGK Vanguard Ftse Europe ETF 0.14% 30,293 $2.5M Reduce -3.7%
AVUV Avantis US Small Cap Value 0.14% 24,788 $2.5M Add +29.2%
IJR iShares Core S&P Small-Cap E 0.14% 20,850 $2.5M Add +2.8%
XOM Exxon Mobil Corp. 0.13% 20,688 $2.5M Reduce -5.2%
OKE Oneok Inc. 0.13% 33,348 $2.5M Add +0.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.13% 4,833 $2.4M Add +1.4%
VGT Vanguard Info Tech ETF 0.13% 3,082 $2.3M Add +3.9%
DFNM Dimensional National Muni BD 0.12% 47,782 $2.3M Reduce -1.8%
IWC iShares Micro-Cap ETF 0.12% 14,253 $2.2M Add +4.1%
QQQM Invesco Nasdaq 100 ETF 0.11% 8,257 $2.1M Add +0.9%
SPYM Ste STR SPDR PT S&P 500 ETF 0.11% 25,781 $2.1M Add +7.1%
AVGV Avantis All Eq MKTS Val ETF 0.11% 27,262 $2.0M Add +5.7%
DVY iShares Select Dividend ETF 0.11% 14,074 $2.0M Add +0.1%
AVUS Avantis U.S. Equity ETF 0.10% 17,222 $1.9M Add +48.5%
BND Vanguard Total Bond Market 0.10% 25,761 $1.9M Reduce -39.8%
AVDE Avantis International Equity 0.10% 22,641 $1.9M Add +0.8%
SCHX Schwab US Large-Cap ETF 0.10% 68,660 $1.8M Add +2.9%
VFH Vanguard Financials ETF 0.10% 13,787 $1.8M Add +1.0%
AVDV Avantis Intl S/C Value ETF 0.10% 19,585 $1.8M Reduce -9.1%
SCHF Schwab Intl Equity ETF 0.10% 75,977 $1.8M Add +1.8%
SCHD Schwab US DVD Equity ETF 0.10% 66,554 $1.8M Add +7.8%
VDE Vanguard Energy ETF 0.09% 13,820 $1.7M Add +0.3%
IYR iShares US Real Estate ETF 0.09% 18,419 $1.7M No change
VCR Vanguard Consumer Discre ETF 0.09% 4,381 $1.7M Add +0.1%
EPD Enterprise Products Partners 0.09% 52,352 $1.7M Add +0.5%
DFCF Dimensional Core Fixed Inc. 0.09% 38,429 $1.6M Add +2.8%
SCZ iShares MSCI Eafe Small-Cap 0.09% 20,964 $1.6M No change
DXIV Dimensional Intr Vtor E ETF 0.09% 24,278 $1.6M Add +17.9%
VTIP Vanguard Short-Term Tips 0.08% 31,677 $1.6M Add +48.5%
ADBE Adobe Inc. 0.08% 4,388 $1.5M Add +7.0%
JPM JPMorgan Chase & Co. 0.08% 4,699 $1.5M Add +0.2%
BRK.A Berkshire Hathaway Inc. Class A 0.08% 2 $1.5M No change
AXP American Express Co. 0.08% 3,990 $1.5M Reduce -1.2%
XYZ Block Inc. 0.08% 22,500 $1.5M No change
MA Mastercard Inc. Class A 0.08% 2,513 $1.4M No change
BIV Vanguard Intermediate-Term B 0.08% 18,054 $1.4M Add +154.1%
APPF Appfolio Inc. Class A 0.08% 6,000 $1.4M No change
IEMG iShares Core MSCI Emerging 0.07% 20,500 $1.4M Add +27.1%
RWAY Runway Growth Finance Corp. 0.07% 150,467 $1.3M No change
PG The Procter & Gamble Co. 0.07% 9,360 $1.3M Reduce -0.4%
EEM iShares MSCI Emerging Market 0.07% 24,135 $1.3M Add +0.0%
DEHP Dimensional Emrg MRK Hi Prof 0.07% 40,839 $1.3M Add +0.0%
DFAU Dimensional US Core Equity M 0.07% 27,361 $1.3M Add +2.9%
VCSH Vanguard S/T Corp. Bond ETF 0.07% 16,050 $1.3M Add +72.1%
XLI SS Industrial Select Sector 0.07% 8,204 $1.3M Add +0.6%
MDY State Street SPDR S&P Midcap 0.07% 2,071 $1.2M Add +0.2%
IWM iShares Russell 2000 ETF 0.07% 4,973 $1.2M Add +0.8%
DGS Wisdomtree Em Small Cap 0.07% 21,054 $1.2M Reduce -2.0%
DEM Wisdomtree Emerging Markets 0.06% 25,570 $1.2M Add +0.1%
EFV iShares MSCI Eafe Value ETF 0.06% 16,684 $1.2M Add +6.7%
PSLV Sprott Physical Silver Trust 0.06% 50,300 $1.2M No change
IWN iShares Russell 2000 Value E 0.06% 6,425 $1.2M Reduce -0.0%
SHY iShares 1-3 Year Treasury Bo 0.06% 14,024 $1.2M Add +9.8%
INTU Intuit Inc. 0.06% 1,730 $1.1M Add +3.5%
SYLD Cambria Shareholder Yield Et 0.06% 16,483 $1.1M No change
SCHO Schwab Short-Term US Treas 0.06% 44,984 $1.1M Add +2.4%
GSG iShares S&P Gsci Commodity I 0.06% 47,347 $1.1M No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.06% 3,747 $1.1M Add +0.1%
SCHK Schwab 1000 Index ETF 0.06% 32,428 $1.1M Add +3.1%
SCHB Schwab US Broad Market ETF 0.06% 40,281 $1.1M Add +0.4%
IJH iShares Core S&P Midcap ETF 0.06% 15,827 $1.0M Add +0.0%
AVSC Avantis US Small Cap Equity 0.06% 17,653 $1.0M Add +1.4%
IVE iShares S&P 500 Value ETF 0.06% 4,818 $1.0M Add +0.4%
ABBV Abbvie Inc. 0.05% 4,320 $987K No change
TSM Taiwan Semiconductor-SP ADR 0.05% 3,234 $983K Reduce -0.3%
ORCL Oracle Corp. 0.05% 4,967 $968K Reduce -0.8%
CRWD CrowdStrike Holdings Inc. Class A 0.05% 2,058 $965K Add +253.0%
BBNX Beta Bionics Inc. 0.05% 31,272 $953K Reduce -7.4%
SPTS SS SPDR P St Term TSY ETF 0.05% 32,523 $952K Reduce -8.3%
GNMA iShares Gnma Bond ETF 0.05% 21,360 $951K New
ITOT iShares Core S&P Total U.S. 0.05% 6,256 $930K Add +65.9%
SCHG Schwab US Large-Cap Growth 0.05% 28,193 $920K Add +23.7%
VNQI Vanguard GLBL Ex-US Real Est 0.05% 20,015 $917K Add +78.9%
DCOR Dimensional US Core Eq 1 ETF 0.05% 12,208 $899K Add +4.6%
ICF iShares Select U.S. REIT ETF 0.05% 14,755 $880K Add +0.0%
DXUV Dimensional US Vtor Eqty ETF 0.05% 14,112 $844K Add +2.3%
AVDS Avantis Intl SM Cap Eq ETF 0.05% 12,050 $841K Add +0.7%
MCD McDonald's Corp. 0.04% 2,713 $829K Reduce -0.9%
WDAY Workday Inc. Class A 0.04% 3,783 $813K No change
SGOV iShares 0-3 Month Treasury B 0.04% 8,087 $812K Reduce -7.6%
AVIV Avantis Intl LRG Cap Val ETF 0.04% 11,385 $811K Reduce -25.8%
ENB Enbridge Inc. 0.04% 16,908 $809K No change
PM Philip Morris International 0.04% 4,985 $800K Reduce -10.0%
DOL Wisdomtree TR DVLP Intnl-Usd 0.04% 11,627 $766K Add +0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 2,582 $765K Reduce -3.6%
XLP SS Consumer Staples Sel Sect 0.04% 9,675 $752K Add +1.1%
FNDX Schwab Fndmntl US LRG Co. ETF 0.04% 27,490 $748K Add +4.0%
BABA Alibaba Group Holding-SP ADR 0.04% 5,080 $745K New
LLY Eli Lilly & Co. 0.04% 691 $743K Reduce -35.0%
COST Costco Wholesale Corp. 0.04% 845 $729K Add +29.2%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.04% 16,052 $726K Add +0.4%
VXF Vanguard Extended Market ETF 0.04% 3,448 $721K Reduce -2.0%
CAT Caterpillar Inc. 0.04% 1,250 $716K No change
V Visa Inc. Class A 0.04% 2,029 $712K Add +0.1%
NFLX Netflix Inc. 0.04% 7,401 $694K Add +1.5%
AEM Agnico Eagle Mines Ltd. 0.04% 4,048 $686K Add +0.6%
MCHI iShares MSCI China ETF 0.04% 11,282 $678K No change
ET Energy Transfer LP 0.04% 40,461 $667K Add +0.0%
OKTA Okta Inc. 0.03% 7,337 $634K No change
NOW ServiceNow Inc. 0.03% 4,133 $633K Reduce -13.3%
UNH Unitedhealth Group Inc. 0.03% 1,909 $630K Add +114.3%
IBIT iShares Bitcoin Trust ETF 0.03% 12,587 $625K Add +9.8%
ZETA Zeta Global Holdings Corp. Class A 0.03% 30,612 $623K No change
QCOM Qualcomm Inc. 0.03% 3,571 $611K Add +1.3%
VCIT Vanguard Int-Term Corporate 0.03% 7,225 $605K Add +45.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.03% 13,788 $589K Add +0.1%
IHF iShares U.S. Healthcare Prov 0.03% 12,255 $588K Add +0.3%
SCHA Schwab US Small-Cap ETF 0.03% 20,398 $581K Add +0.9%
VEEV Veeva Systems Inc. Class A 0.03% 2,599 $580K No change
IYY iShares Dow Jones U.S. ETF 0.03% 3,425 $568K Add +0.3%
UNP Union Pacific Corp. 0.03% 2,427 $561K Add +0.5%
VPU Vanguard Utilities ETF 0.03% 2,982 $552K No change
HD Home Depot Inc. 0.03% 1,596 $549K Reduce -2.0%
DBEF Xtrackers MSCI Eafe Hedged E 0.03% 11,341 $546K Add +2.5%
SON Sonoco Products Co. 0.03% 2,927 $542K No change
AMGN Amgen Inc. 0.03% 1,649 $540K Reduce -6.5%
PLTR Palantir Technologies Inc. Class A 0.03% 3,021 $537K Add +9.6%
AVEM Avantis Emerging Markets Eq 0.03% 6,892 $531K Add +1.2%
IWS iShares Russell Mid-Cap Valu 0.03% 3,699 $522K Add +0.0%
BA The Boeing Co. 0.03% 2,389 $519K Reduce -1.2%
IDU iShares US Utilities ETF 0.03% 4,772 $517K Add +0.1%
ABT Abbott Laboratories 0.03% 4,114 $515K Add +1.2%
STT State Street Corp. 0.03% 3,975 $513K No change
WMT Walmart Inc. 0.03% 4,576 $510K Reduce -41.7%
AGI Alamos Gold Inc. Class A 0.03% 13,200 $509K No change
DON Wisdomtree US Midcap Dividen 0.03% 9,385 $484K Add +0.7%
CYRX Cryoport Inc. 0.03% 50,000 $480K No change
BAR Graniteshares Gold Trust 0.03% 11,083 $471K Reduce -9.2%
SCHE Schwab Emrg Mrkts Eqty ETF 0.03% 14,245 $467K Add +1.3%
T AT&T Inc. 0.03% 18,675 $464K Add +0.1%
BITB Bitwise Bitcoin ETF 0.03% 9,738 $463K New
DXYZ Destiny TECH100 Inc. 0.02% 15,000 $459K No change
APPN Appian Corp. Class A 0.02% 12,943 $458K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.02% 2,983 $458K Reduce -2.7%
CORT Corcept Therapeutics Inc. 0.02% 13,166 $458K Reduce -8.2%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.02% 2,580 $458K Add +3.6%
SPDW Ste STR SPDR PT DW Eu ETF 0.02% 10,235 $455K No change
GPI Group 1 Automotive Inc. 0.02% 1,150 $452K No change
ASML ASML Holding NV-NY Reg SHS 0.02% 419 $448K No change
MUB iShares National Muni Bond E 0.02% 4,048 $434K Add +74.1%
PDBC Invesco Optimum Yield Divers 0.02% 32,595 $432K Add +3.2%
HUBS HubSpot Inc. 0.02% 1,067 $428K No change
INFL Horizon Kinetics Infl Benef 0.02% 9,574 $426K Add +0.2%
INTC Intel Corp. 0.02% 11,526 $425K No change
KMI Kinder Morgan Inc. 0.02% 15,349 $422K Reduce -5.8%
VCRM Vanguard Core Tax-Ex Bond 0.02% 5,572 $421K No change
SMH Vaneck Semiconductor ETF 0.02% 1,160 $418K Add +7.4%
TIP iShares Tips Bond ETF 0.02% 3,714 $408K Add +0.5%
BL Blackline Inc. 0.02% 7,350 $406K No change
IXUS iShares Core Intl Stock ETF 0.02% 4,740 $401K New
EFG iShares MSCI Eafe Growth ETF 0.02% 3,482 $397K Add +1.6%
MRK Merck & Co. Inc. 0.02% 3,757 $395K Reduce -1.5%
WTW Willis Towers Watson PLC 0.02% 1,195 $393K Add +1.6%
ADP Automatic Data Processing 0.02% 1,511 $389K Add +1.9%
ESNT Essent Group Ltd. 0.02% 5,934 $386K No change
ARKF ARK Blockchain & Fintech Inn 0.02% 8,000 $381K No change
WELL Welltower Inc. 0.02% 2,010 $373K Add +0.3%
IEUR iShares Core MSCI Europe ETF 0.02% 5,217 $370K No change
BSCS Invesco Bulletshares 2028 CB 0.02% 17,677 $364K Add +6.6%
PH Parker Hannifin Corp. 0.02% 414 $364K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.02% 1,200 $363K Reduce -18.2%
HEFA Isha Curr Hedged MSCI Eafe 0.02% 8,522 $352K Add +1.8%
BNDX Vanguard Total Intl Bond ETF 0.02% 7,180 $347K Reduce -72.7%
CVLT Commvault Systems Inc. 0.02% 2,761 $346K No change
NEE Nextera Energy Inc. 0.02% 4,282 $344K Add +1.5%
TMO Thermo Fisher Scientific Inc. 0.02% 591 $342K Add +31.3%
PYPL PayPal Holdings Inc. 0.02% 5,857 $342K Reduce -1.1%
AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO 0.02% 5,208 $341K New
STPZ PIMCO 1-5 Year US Tips Index 0.02% 6,306 $338K No change
SCHV Schwab US Large-Cap Value 0.02% 11,030 $327K Reduce -2.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 2,866 $326K No change
SLB SLB Ltd. filed as SLB LIMITED 0.02% 8,464 $325K No change
DUSB Dimension Ultrashort Fi ETF 0.02% 6,413 $325K Reduce -1.0%
PFE Pfizer Inc. 0.02% 13,025 $324K Reduce -1.1%
ILCG iShares Morningstar Growth E 0.02% 3,100 $323K No change
OKLO Oklo Inc. 0.02% 4,488 $322K Add +1.1%
EEMV iShares MSCI Emg MKT Min Vol 0.02% 4,978 $319K Add +2.8%
SPYX SS SPDR S&P 500 Foss FL ETF 0.02% 5,648 $317K No change
AIQ Global X Art Intel & Tech 0.02% 6,113 $311K No change
VHT Vanguard Health Care ETF 0.02% 1,064 $306K Add +0.3%
XLE SS Energy Select Sector 0.02% 6,835 $306K Add +0.3%
FLOT iShares Floating Rate Bond E 0.02% 5,990 $305K Add +0.9%
CRM Salesforce Inc. 0.02% 1,147 $304K Add +28.0%
AVSD Avantis Reps Intern Equi ETF 0.02% 4,073 $302K No change
MO Altria Group Inc. 0.02% 5,207 $300K Reduce -18.1%
VONG Vanguard Russell 1000 Growth 0.02% 2,462 $300K No change
GD General Dynamics Corp. 0.02% 878 $296K Reduce -1.0%
BMVP Invesco Bloomberg MVP Multi- 0.02% 6,021 $294K No change
AVSF Avantis Short-Term Fixed Inc. 0.02% 6,215 $293K New
PNC PNC Financial Services Group 0.02% 1,401 $292K Add +5.0%
RWO State Street SPDR Dow Jones 0.02% 6,467 $291K No change
XLB SS Materials Select Sector 0.02% 6,383 $289K Add +0.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.02% 5,435 $287K Add +1.5%
SPOT Spotify Technology SA 0.02% 494 $287K No change
CET Central Securities Corp. 0.02% 5,653 $287K No change
ISRG Intuitive Surgical Inc. 0.02% 503 $285K No change
SCHR Schwab Intermediate-Term US 0.02% 11,345 $285K Add +1.3%
LOW Lowe's Cos Inc. 0.02% 1,176 $284K No change
WTAI Wisdomtree AI and Innovation 0.01% 9,565 $279K No change
SPYG SS SPDR P S&P 500 Growth ETF 0.01% 2,604 $278K No change
IWV iShares Russell 3000 ETF 0.01% 716 $277K No change
BSJS Invesco Bulletshares 2028 HY 0.01% 12,452 $274K Add +7.5%
MSTR Strategy Inc. 0.01% 1,803 $274K No change
IBHH iShares Ibonds 2028 TM HY Inc. 0.01% 11,556 $274K Add +7.7%
IBDT iShares Ibonds Dec 2028 ETF 0.01% 10,729 $273K Add +7.0%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.01% 6,258 $273K Add +7.2%
IGIB iShares 5-10Y Inv Grade Corp. 0.01% 5,016 $270K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.01% 934 $261K Add +0.2%
AVLV Avantis US Large Cap Value 0.01% 3,411 $258K Add +0.3%
VZ Verizon Communications Inc. 0.01% 6,290 $256K Add +2.2%
AVRE Avantis Real Estate ETF 0.01% 5,875 $256K Add +0.9%
XSVM Invesco S&P Smallcap Value W 0.01% 4,455 $255K No change
XAR SS SPDR S&P Aerospace Def 0.01% 1,041 $251K Add +0.1%
NYF iShares New York Muni Bond E 0.01% 4,672 $250K New
COP Conocophillips 0.01% 2,668 $250K Reduce -3.6%
QBTS D-Wave Quantum Inc. 0.01% 9,484 $248K No change
NEM Newmont Corp. 0.01% 2,449 $244K Reduce -24.6%
SO The Southern Co. 0.01% 2,779 $242K No change
MELI MercadoLibre Inc. 0.01% 120 $242K No change
BKNG Booking Holdings Inc. 0.01% 45 $241K Reduce -4.3%
IMCG iShares Morningstar Mid-Cap 0.01% 3,000 $240K No change
NSC Norfolk Southern Corp. 0.01% 829 $239K No change
FDX FedEx Corp. 0.01% 828 $239K New
IYW iShares Ustechnology ETF 0.01% 1,196 $239K Add +1.4%
SCHC Schwab Intl Small-Cap Equity 0.01% 5,245 $239K Add +2.5%
ILCB iShares Morningstar U.S. Equ 0.01% 2,500 $236K No change
CL Colgate-Palmolive Co. 0.01% 2,968 $235K No change
AEP American Electric Power 0.01% 1,995 $230K No change
STIP iShares 0-5 Year Tips Bond E 0.01% 2,241 $229K No change
VGSH Vanguard Short-Term Treasury 0.01% 3,888 $228K New
IDV iShares International Select 0.01% 5,779 $228K Add +0.1%
IWP iShares Russell Mid-Cap Grow 0.01% 1,662 $228K No change
MDB Mongodb Inc. 0.01% 537 $225K Reduce -21.8%
DE Deere & Co. 0.01% 481 $224K Reduce -2.0%
FCX Freeport-McMoran Inc. 0.01% 4,400 $223K Reduce -40.5%
ED Consolidated Edison Inc. 0.01% 2,200 $219K No change
BN Brookfield Corp. 0.01% 4,741 $218K Add +1.8%
GS Goldman Sachs Group Inc. 0.01% 246 $216K Reduce -21.7%
SGDM Sprott Gold Miners ETF 0.01% 3,082 $215K New
COMP Compass Inc. Class A 0.01% 19,500 $206K No change
PPTA Perpetua Resources Corp. 0.01% 8,300 $201K New
PANW Palo Alto Networks Inc. 0.01% 1,090 $201K No change
AAL American Airlines Group Inc. 0.01% 11,146 $171K Reduce -12.5%
KRP Kimbell Royalty Partners LP 0.01% 11,948 $141K Add +4.6%
PBI Pitney Bowes Inc. 0.01% 11,237 $119K Add +0.9%
FTMU Franklin Muncipal Income ETF 0.01% 13,472 $105K New
RWT Redwood Trust Inc. 0.00% 14,000 $77K No change
BARK Bark Inc. 0.00% 10,000 $6K Reduce -56.5%
Other holdings (2): bonds, preferreds, convertibles and warrants · $617K (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 251$314KNo change
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 250$303KNo change

Total filed on the 13F, all lines: $1.9B.

Portfolio Sells Q3 2025 → Q4 2025
METV Roundhill Ball Metaverse ETF Reduce -39.7% 1.36% −1.26
AAPL Apple Inc. Reduce -11.0% 3.89% −0.39
PHYS Sprott Physical Gold Trust Reduce -10.1% 7.27% −0.31
NVDA Nvidia Corp. Reduce -25.8% 0.58% −0.24
ABCS Alpha Blue Cap US S-M DYN Sold out 0.00% −0.17
AMZN Amazon.com Inc. Reduce -22.2% 0.42% −0.12
DFAT Dimensional US Target Value Reduce -1.1% 3.48% −0.11
VTI VG Morningstar TS MKT ETF-US Reduce -1.1% 2.95% −0.10
MSFT Microsoft Corp. Reduce -1.2% 0.73% −0.10
BRK.B Berkshire Hathaway Inc. Class B Reduce -11.2% 0.55% −0.10
DFAX Dimensional World Ex US Core Reduce -2.0% 4.07% −0.09
BND Vanguard Total Bond Market Reduce -39.8% 0.10% −0.08
JPST JPMorgan Ultra-Short Income Sold out 0.00% −0.07
BNDX Vanguard Total Intl Bond ETF Reduce -72.7% 0.02% −0.05
CORT Corcept Therapeutics Inc. Reduce -8.2% 0.02% −0.04
ALRM Alarm.com Holdings Inc. Reduce -0.3% 0.47% −0.04
ORCL Oracle Corp. Reduce -0.8% 0.05% −0.03
TSLA Tesla Inc. Reduce -8.7% 0.20% −0.03
GOOG Alphabet Inc. Class C Reduce -19.7% 2.51% −0.02
DFAE Dimensional Emerging Core Eq Reduce -12.1% 0.16% −0.02
VNQ Vanguard Real Estate ETF Reduce -1.2% 0.23% −0.02
VIG Vanguard Dividend Apprec ETF Reduce -5.1% 0.24% −0.02
WMT Walmart Inc. Reduce -41.7% 0.03% −0.02
IWF iShares Russell 1000 Growth Reduce -3.2% 0.25% −0.02
DHS Wisdomtree US High Dividend Reduce -0.3% 0.44% −0.02
NOW ServiceNow Inc. Reduce -13.3% 0.03% −0.02
AVIV Avantis Intl LRG Cap Val ETF Reduce -25.8% 0.04% −0.01
IJS iShares S&P Small-Cap 600 Va Reduce -1.2% 0.48% −0.01
SCHP Schwab U.S. Tips ETF Sold out 0.00% −0.01
PEP Pepsico Inc. Sold out 0.00% −0.01
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.01
SHW The Sherwin-Williams Co. Sold out 0.00% −0.01
AVES Avantis Emerging Markets Val Sold out 0.00% −0.01
CARR Carrier Global Corp. Sold out 0.00% −0.01
DLS Wisdomtree Intl S/C DVD Fund Reduce -0.3% 0.37% −0.01
PG The Procter & Gamble Co. Reduce -0.4% 0.07% −0.01
AVDV Avantis Intl S/C Value ETF Reduce -9.1% 0.10% −0.01
VTES Vanguard SH Term Tax-Ex Bond Reduce -1.3% 0.14% −0.01
DTH Wisdomtree International Hig Reduce -4.1% 0.21% −0.01
HD Home Depot Inc. Reduce -2.0% 0.03% −0.01
MO Altria Group Inc. Reduce -18.1% 0.02% −0.01
NGD New Gold Inc. Sold out 0.00% −0.01
PM Philip Morris International Reduce -10.0% 0.04% −0.01
DFNM Dimensional National Muni BD Reduce -1.8% 0.12% −0.01
SPTS SS SPDR P St Term TSY ETF Reduce -8.3% 0.05% −0.01
VPL Vanguard Ftse Pacific ETF Reduce -2.5% 0.15% −0.01
SGOV iShares 0-3 Month Treasury B Reduce -7.6% 0.04% −0.01
LLY Eli Lilly & Co. Reduce -35.0% 0.04% −0.01
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -18.2% 0.02% −0.01
VGK Vanguard Ftse Europe ETF Reduce -3.7% 0.14% −0.00

Portfolio Buys Q3 2025 → Q4 2025
VBIL Vanguard 0-3M T-Bill ETF Add +39.8% 7.75% +1.94
DFIV Dimensional International Va Add +2.2% 3.74% +0.21
VUSB Vanguard Ultra Short Bond Et Add +320.2% 0.21% +0.16
DISV Dimensional International SM Add +4.1% 2.34% +0.13
SLV iShares Silver Trust Add +4.7% 0.34% +0.12
DFSV Dimensional US Small Cap Val Add +7.8% 1.82% +0.11
VOO Vanguard S&P 500 ETF Add +9.5% 1.63% +0.11
DFLV Dim US Large Cap Value ETF Add +10.3% 0.97% +0.09
DFAI Dimensional International Co. Add +6.6% 1.24% +0.08
VTEB Vanguard Tax-Exempt Bond ETF Add +12.6% 0.81% +0.06
DFIS Dimensional International SM Add +2.9% 2.38% +0.06
DFUS Dimensional US Eq MKT ETF Add +3.5% 3.81% +0.05
GNMA iShares Gnma Bond ETF New 0.05% +0.05
DFAW Dimensional World Eqty ETF Add +18.5% 0.34% +0.05
DFEV Dimensional Emrg MRKT Val Add +3.6% 1.00% +0.05
BIV Vanguard Intermediate-Term B Add +154.1% 0.08% +0.04
BABA Alibaba Group Holding-SP ADR New 0.04% +0.04
BSV Vanguard Short-Term Bond ETF Add +42.6% 0.14% +0.04
CRWD CrowdStrike Holdings Inc. Class A Add +253.0% 0.05% +0.04
DFIC Dimensional International Co. Add +1.8% 1.49% +0.03
AVUS Avantis U.S. Equity ETF Add +48.5% 0.10% +0.03
AMD Advanced Micro Devices Add +0.6% 0.15% +0.03
DFUV Dimensional US Marketwide Va Add +1.2% 3.35% +0.03
AVUV Avantis US Small Cap Value Add +29.2% 0.14% +0.03
VCSH Vanguard S/T Corp. Bond ETF Add +72.1% 0.07% +0.03
BITB Bitwise Bitcoin ETF New 0.03% +0.03
VTIP Vanguard Short-Term Tips Add +48.5% 0.08% +0.02
IEFA iShares Core MSCI Eafe ETF Add +16.3% 0.19% +0.02
VEA Vanguard Ftse Developed ETF Add +11.8% 0.22% +0.02
IXUS iShares Core Intl Stock ETF New 0.02% +0.02
VNQI Vanguard GLBL Ex-US Real Est Add +78.9% 0.05% +0.02
ITOT iShares Core S&P Total U.S. Add +65.9% 0.05% +0.02
AKRE Akre Focus ETF New 0.02% +0.02
UNH Unitedhealth Group Inc. Add +114.3% 0.03% +0.02
DFEM Dimensional Emrg MRKT Core Add +2.9% 1.03% +0.02
AVSF Avantis Short-Term Fixed Inc. New 0.02% +0.02
IEMG iShares Core MSCI Emerging Add +27.1% 0.07% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +9.8% 0.23% +0.01
DXIV Dimensional Intr Vtor E ETF Add +17.9% 0.09% +0.01
NYF iShares New York Muni Bond E New 0.01% +0.01
FDX FedEx Corp. New 0.01% +0.01
BSVO EA Bridgeway Omni Sm-Cp Val Add +6.3% 0.29% +0.01
VGSH Vanguard Short-Term Treasury New 0.01% +0.01
AVGE Avantis All Eqty Mrkts ETF Add +10.4% 0.15% +0.01
SGDM Sprott Gold Miners ETF New 0.01% +0.01
ACN Accenture PLC Class A Add +0.1% 0.27% +0.01
PPTA Perpetua Resources Corp. New 0.01% +0.01
MUB iShares National Muni Bond E Add +74.1% 0.02% +0.01
JNJ Johnson & Johnson Add +0.0% 0.15% +0.01
VCIT Vanguard Int-Term Corporate Add +45.7% 0.03% +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