Financial Alternatives, Inc

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Financial Alternatives, Inc reported 86 stock positions worth $153.6 million. Its top holding was Dimensional US Core Equity 2 (DFAC) at 14.5% of the portfolio, followed by Dimensional International (DFAI, 10.6%) and Vanguard Emerg MKTS Gov BND (VWOB, 8.5%). Compared with Q1 2025, it opened 6 new positions, sold out of 1, added to 17 and reduced 21. The biggest buy was Dimensional US Core Equity M (DFAU, shares +42%) and the biggest sale an exit from Vanguard ESG Intl Stock ETF (VSGX).

Most Recent 13F
Q2 2026
Location
LA JOLLA, CA
CIK
0001967227
Portfolio Value
$153.6M (Q2 2025)
SEC Filing
0001085146-25-004559 ↗ filed Aug 6, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $129.3M Q1 2024 Q2 2024: $133.1M Q2 2024 Q3 2024: $142.1M Q3 2024 Q4 2024: $141.8M Q4 2024 Q1 2025: $140.3M Q1 2025 Q2 2025: $153.6M $153.6M Q2 2025 Q3 2025: $165.1M Q3 2025 Q4 2025: $172.0M Q4 2025 Q1 2026: $185.5M Q1 2026 Q2 2026: $202.9M Q2 2026

Holdings 86 stocks · $153.6M
DFAC Dimensional US Core Equity 2 14.46% 620,023 $22.2M Add +0.8%
DFAI Dimensional International Co. 10.60% 471,229 $16.3M Add +2.8%
VWOB Vanguard Emerg MKTS Gov BND 8.47% 199,070 $13.0M Add +2.8%
VTI VG Morningstar TS MKT ETF-US 6.48% 32,755 $10.0M Add +0.9%
JEPI JPMorgan Equity Premium Inco 4.63% 125,019 $7.1M Add +6.3%
DFAE Dimensional Emerging Core Eq 4.50% 238,923 $6.9M Add +3.8%
VNQ Vanguard Real Estate ETF 3.53% 60,888 $5.4M Add +3.2%
EMB iShares JP Morgan Usd Emergi 3.47% 57,636 $5.3M Add +2.2%
VNQI Vanguard GLBL Ex-US Real Est 2.74% 91,149 $4.2M Add +1.9%
IAU iShares Gold Trust 2.70% 66,483 $4.1M Reduce -1.2%
VUG Vanguard Mrngstar GR ETF-Sui 2.36% 8,286 $3.6M Reduce -0.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 2.01% 38,252 $3.1M Reduce -0.6%
DFAU Dimensional US Core Equity M 1.95% 70,687 $3.0M Add +41.9%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 1.81% 9,723 $2.8M No change
AAPL Apple Inc. 1.76% 13,145 $2.7M No change
HD Home Depot Inc. 1.41% 5,924 $2.2M No change
DFIC Dimensional International Co. 1.33% 65,888 $2.0M Reduce -0.6%
ETJ Eaton Vance RSK-MGD Divers 1.19% 202,824 $1.8M Reduce -4.9%
VONG Vanguard Russell 1000 Growth 1.18% 16,543 $1.8M Reduce -8.3%
DFEM Dimensional Emrg MRKT Core 1.11% 57,259 $1.7M Reduce -0.9%
BRK.A Berkshire Hathaway Inc. Class A 0.95% 2 $1.5M No change
SPGP Invesco S&P 500 Garp ETF 0.94% 13,431 $1.4M Reduce -0.1%
BRK.B Berkshire Hathaway Inc. Class B 0.88% 2,793 $1.4M Add +6.6%
VEU Vanguard Ftse All-World Ex-U 0.72% 16,368 $1.1M Reduce -1.2%
IJT iShares S&P Small-Cap 600 GR 0.72% 8,264 $1.1M No change
IXUS iShares Core Intl Stock ETF 0.71% 14,203 $1.1M Reduce -1.4%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.69% 2,395 $1.1M No change
XOM Exxon Mobil Corp. 0.67% 9,495 $1.0M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.61% 1,513 $935K Add +12.8%
TSLA Tesla Inc. 0.61% 2,939 $934K Add +0.1%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.57% 4,489 $875K No change
IWP iShares Russell Mid-Cap Grow 0.55% 6,140 $851K No change
IJK iShares S&P Mid-Cap 400 Grow 0.54% 9,084 $826K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.51% 2,843 $787K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.47% 4,402 $724K No change
ESGV Vanguard ESG US Stock ETF 0.44% 6,140 $673K Add +52.8%
COST Costco Wholesale Corp. 0.43% 673 $666K No change
V Visa Inc. Class A 0.42% 1,801 $640K No change
ITOT iShares Core S&P Total U.S. 0.41% 4,610 $623K No change
VIG Vanguard Dividend Apprec ETF 0.40% 3,019 $618K No change
IJS iShares S&P Small-Cap 600 Va 0.39% 5,970 $594K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.38% 2,110 $590K No change
DFAX Dimensional World Ex US Core 0.38% 19,943 $586K Reduce -9.3%
XFOFX Cohen & Steers Closed-End Op 0.36% 43,796 $553K Reduce -5.8%
GSBD Goldman Sachs BDC Inc. 0.34% 46,982 $529K Reduce -1.8%
AMZN Amazon.com Inc. 0.33% 2,332 $512K Add +0.3%
IWS iShares Russell Mid-Cap Valu 0.32% 3,662 $484K No change
APH Amphenol Corp. Class A 0.31% 4,800 $474K No change
QCOM Qualcomm Inc. 0.31% 2,962 $472K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.31% 3,806 $470K No change
VEA Vanguard Ftse Developed ETF 0.29% 7,870 $449K Reduce -8.9%
EZU iShares MSCI Eurozone ETF 0.25% 6,400 $380K No change
EFA iShares MSCI Eafe ETF 0.24% 4,200 $375K No change
NVDA Nvidia Corp. 0.24% 2,345 $370K Add +0.2%
EAGG iShares ESG Aware US Aggrega 0.24% 7,715 $367K Add +16.1%
IFGL iShares International Develo 0.23% 15,785 $359K Reduce -1.1%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.23% 2,702 $355K No change
IWR iShares Russell Mid-Cap ETF 0.23% 3,814 $351K No change
MSFT Microsoft Corp. 0.22% 682 $339K No change
ADBE Adobe Inc. 0.22% 865 $335K No change
VWO Vanguard Ftse Emerging Marke 0.21% 6,498 $321K Reduce -5.9%
SRE Sempra 0.20% 4,120 $312K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.20% 828 $303K No change
IVV iShares Core S&P 500 ETF 0.19% 481 $299K Reduce -8.2%
PRFZ Inv Rafi US 1500 SM-Usd Inc. 0.19% 7,313 $297K Reduce -8.3%
IEUS iShares MSCI Europe Small-Ca 0.19% 4,360 $293K No change
PRF Invesco Rafi US 1000 ETF 0.19% 6,920 $293K No change
IYF iShares US Financials ETF 0.19% 2,406 $291K No change
IWB iShares Russell 1000 ETF 0.19% 851 $289K No change
SPGI S&P Global Inc. 0.19% 548 $289K No change
VPL Vanguard Ftse Pacific ETF 0.18% 3,458 $284K No change
GOOGL Alphabet Inc. Class A 0.17% 1,507 $266K Reduce -24.2%
GOOG Alphabet Inc. Class C 0.17% 1,490 $264K Reduce -19.0%
PDI PIMCO Dynamic Income Fund 0.17% 13,874 $263K No change
VOO Vanguard S&P 500 ETF 0.16% 441 $251K New
VOOG Vanguard S&P 500 Growth ETF 0.16% 620 $246K No change
CGBD Carlyle Secured Lending Inc. 0.16% 17,591 $241K No change
ROP Roper Technologies Inc. 0.15% 400 $227K No change
ESGE iShares Inc. iShares ESG Awar 0.14% 5,530 $217K New
BOXX Alpha Architect 1-3 MNTH Box 0.14% 1,896 $214K New
SDY SS SPDR S&P Dividend ETF 0.14% 1,549 $210K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.14% 4,415 $209K New
META Meta Platforms Inc. Class A 0.13% 280 $207K New
JPST JPMorgan Ultra-Short Income 0.13% 4,000 $203K No change
ETW Eaton Vance T/M GLBL Buy-WR 0.09% 15,091 $131K No change
PFN PIMCO Income Strategy FD II 0.08% 17,203 $127K Reduce -3.7%

Portfolio Sells Q1 2025 → Q2 2025
VSGX Vanguard ESG Intl Stock ETF Sold out 0.00% −0.16
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -0.6% 2.01% −0.16
IAU iShares Gold Trust Reduce -1.2% 2.70% −0.13
ETJ Eaton Vance RSK-MGD Divers Reduce -4.9% 1.19% −0.09
GSBD Goldman Sachs BDC Inc. Reduce -1.8% 0.34% −0.05
GOOGL Alphabet Inc. Class A Reduce -24.2% 0.17% −0.05
XFOFX Cohen & Steers Closed-End Op Reduce -5.8% 0.36% −0.04
GOOG Alphabet Inc. Class C Reduce -19.0% 0.17% −0.03
DFAX Dimensional World Ex US Core Reduce -9.3% 0.38% −0.03
PRFZ Inv Rafi US 1500 SM-Usd Inc. Reduce -8.3% 0.19% −0.02
VEA Vanguard Ftse Developed ETF Reduce -8.9% 0.29% −0.02
VONG Vanguard Russell 1000 Growth Reduce -8.3% 1.18% −0.02
SPGP Invesco S&P 500 Garp ETF Reduce -0.1% 0.94% −0.02
IVV iShares Core S&P 500 ETF Reduce -8.2% 0.19% −0.02
VWO Vanguard Ftse Emerging Marke Reduce -5.9% 0.21% −0.01
PFN PIMCO Income Strategy FD II Reduce -3.7% 0.08% −0.01
IXUS iShares Core Intl Stock ETF Reduce -1.4% 0.71% −0.00
VEU Vanguard Ftse All-World Ex-U Reduce -1.2% 0.72% −0.00
IFGL iShares International Develo Reduce -1.1% 0.23% +0.01
DFEM Dimensional Emrg MRKT Core Reduce -0.9% 1.11% +0.02
DFIC Dimensional International Co. Reduce -0.6% 1.33% +0.02
VUG Vanguard Mrngstar GR ETF-Sui Reduce -0.4% 2.36% +0.17

Portfolio Buys Q1 2025 → Q2 2025
DFAU Dimensional US Core Equity M Add +41.9% 1.95% +0.58
DFAI Dimensional International Co. Add +2.8% 10.60% +0.40
DFAE Dimensional Emerging Core Eq Add +3.8% 4.50% +0.25
VOO Vanguard S&P 500 ETF New 0.16% +0.16
ESGV Vanguard ESG US Stock ETF Add +52.8% 0.44% +0.16
VNQI Vanguard GLBL Ex-US Real Est Add +1.9% 2.74% +0.16
ESGE iShares Inc. iShares ESG Awar New 0.14% +0.14
BOXX Alpha Architect 1-3 MNTH Box New 0.14% +0.14
SDY SS SPDR S&P Dividend ETF New 0.14% +0.14
BAC Bank of America Corp. New 0.14% +0.14
META Meta Platforms Inc. Class A New 0.13% +0.13
VTI VG Morningstar TS MKT ETF-US Add +0.9% 6.48% +0.12
SPY SS SPDR S&P 500 ETF Trust-US Add +12.8% 0.61% +0.07
TSLA Tesla Inc. Add +0.1% 0.61% +0.07
NVDA Nvidia Corp. Add +0.2% 0.24% +0.06
AMZN Amazon.com Inc. Add +0.3% 0.33% +0.02
EAGG iShares ESG Aware US Aggrega Add +16.1% 0.24% +0.01
DFAC Dimensional US Core Equity 2 Add +0.8% 14.46% −0.00
BRK.B Berkshire Hathaway Inc. Class B Add +6.6% 0.88% −0.11
JEPI JPMorgan Equity Premium Inco Add +6.3% 4.63% −0.17
EMB iShares JP Morgan Usd Emergi Add +2.2% 3.47% −0.17
VNQ Vanguard Real Estate ETF Add +3.2% 3.53% −0.28
VWOB Vanguard Emerg MKTS Gov BND Add +2.8% 8.47% −0.40

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 84$202.9MDFAC, DFAI, VWOB, DFAE, JEPI
Q1 2026 79$185.5MDFAC, DFAI, VWOB, DFAE, JEPI
Q4 2025 87$172.0MDFAC, DFAI, VWOB, VTI, DFAE
Q3 2025 86$165.1MDFAC, DFAI, VWOB, VTI, DFAE
Q2 2025 86$153.6MDFAC, DFAI, VWOB, VTI, JEPI
Q1 2025 81$140.3MDFAC, DFAI, VWOB, VTI, JEPI
Q4 2024 81$141.8MDFAC, DFAI, VWOB, VTI, JEPI
Q3 2024 85$142.1MDFAC, DFAI, VWOB, VTI, JEPI
Q2 2024 82$133.1MDFAC, DFAI, VWOB, VTI, DFAE
Q1 2024 82$129.3MDFAC, DFAI, VWOB, VTI, JEPI