Financial Alternatives, Inc

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Financial Alternatives, Inc reported 86 stock positions worth $165.1 million. Its top holding was Dimensional US Core Equity 2 (DFAC) at 14.6% of the portfolio, followed by Dimensional International (DFAI, 10.5%) and Vanguard Emerg MKTS Gov BND (VWOB, 8.3%). Compared with Q2 2025, it opened 2 new positions, sold out of 2, added to 24 and reduced 22. The biggest buy was Apple (AAPL, shares +5%) and the biggest sale JPMorgan Equity Premium Inco (JEPI, shares −2%).

Most Recent 13F
Q2 2026
Location
LA JOLLA, CA
CIK
0001967227
Portfolio Value
$165.1M (Q3 2025)
SEC Filing
0001967227-25-000005 ↗ filed Nov 5, 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 Q2 2025 Q3 2025: $165.1M $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 · $165.1M
DFAC Dimensional US Core Equity 2 14.64% 626,927 $24.2M Add +1.1%
DFAI Dimensional International Co. 10.50% 477,111 $17.3M Add +1.3%
VWOB Vanguard Emerg MKTS Gov BND 8.35% 206,060 $13.8M Add +3.5%
VTI VG Morningstar TS MKT ETF-US 6.82% 34,302 $11.3M Add +4.7%
DFAE Dimensional Emerging Core Eq 4.58% 240,075 $7.6M Add +0.5%
JEPI JPMorgan Equity Premium Inco 4.22% 121,912 $7.0M Reduce -2.5%
VNQ Vanguard Real Estate ETF 3.42% 61,861 $5.7M Add +1.6%
EMB iShares JP Morgan Usd Emergi 3.30% 57,208 $5.4M Reduce -0.7%
IAU iShares Gold Trust 2.96% 67,108 $4.9M Add +0.9%
VNQI Vanguard GLBL Ex-US Real Est 2.66% 91,885 $4.4M Add +0.8%
VUG Vanguard Mrngstar GR ETF-Sui 2.40% 8,281 $4.0M Reduce -0.1%
AAPL Apple Inc. 2.14% 13,858 $3.5M Add +5.4%
DFAU Dimensional US Core Equity M 1.96% 70,687 $3.2M No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 1.84% 37,398 $3.0M Reduce -2.2%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 1.81% 9,723 $3.0M No change
HD Home Depot Inc. 1.51% 6,136 $2.5M Add +3.6%
DFIC Dimensional International Co. 1.28% 64,558 $2.1M Reduce -2.0%
VONG Vanguard Russell 1000 Growth 1.20% 16,491 $2.0M Reduce -0.3%
DFEM Dimensional Emrg MRKT Core 1.11% 56,935 $1.8M Reduce -0.6%
ETJ Eaton Vance RSK-MGD Divers 1.05% 193,243 $1.7M Reduce -4.7%
BRK.A Berkshire Hathaway Inc. Class A 0.91% 2 $1.5M No change
BRK.B Berkshire Hathaway Inc. Class B 0.85% 2,793 $1.4M No change
SPGP Invesco S&P 500 Garp ETF 0.85% 12,301 $1.4M Reduce -8.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.79% 1,963 $1.3M Add +29.7%
TSLA Tesla Inc. 0.79% 2,929 $1.3M Reduce -0.3%
IJT iShares S&P Small-Cap 600 GR 0.71% 8,264 $1.2M No change
VEU Vanguard Ftse All-World Ex-U 0.71% 16,368 $1.2M No change
IXUS iShares Core Intl Stock ETF 0.70% 13,930 $1.2M Reduce -1.9%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.68% 2,407 $1.1M Add +0.5%
XOM Exxon Mobil Corp. 0.66% 9,626 $1.1M Add +1.4%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.57% 4,489 $937K No change
IWP iShares Russell Mid-Cap Grow 0.53% 6,140 $874K No change
IJK iShares S&P Mid-Cap 400 Grow 0.53% 9,084 $871K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.51% 2,843 $846K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.47% 4,402 $768K No change
DFAX Dimensional World Ex US Core 0.42% 21,858 $686K Add +9.6%
ESGV Vanguard ESG US Stock ETF 0.42% 5,789 $686K Reduce -5.7%
ITOT iShares Core S&P Total U.S. 0.41% 4,610 $671K No change
IJS iShares S&P Small-Cap 600 Va 0.40% 5,970 $660K No change
COST Costco Wholesale Corp. 0.39% 687 $636K Add +2.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.38% 2,110 $620K No change
V Visa Inc. Class A 0.37% 1,802 $615K Add +0.1%
VIG Vanguard Dividend Apprec ETF 0.37% 2,827 $610K Reduce -6.4%
APH Amphenol Corp. Class A 0.36% 4,800 $594K No change
XFOFX Cohen & Steers Closed-End Op 0.35% 43,796 $571K No change
IWS iShares Russell Mid-Cap Valu 0.31% 3,662 $511K No change
VEA Vanguard Ftse Developed ETF 0.31% 8,416 $504K Add +6.9%
AMZN Amazon.com Inc. 0.30% 2,273 $499K Reduce -2.5%
IJJ iShares S&P Mid-Cap 400 Valu 0.30% 3,806 $494K No change
QCOM Qualcomm Inc. 0.30% 2,962 $493K No change
SRE Sempra 0.30% 5,462 $491K Add +32.6%
GSBD Goldman Sachs BDC Inc. 0.29% 46,982 $478K No change
NVDA Nvidia Corp. 0.28% 2,485 $464K Add +6.0%
EZU iShares MSCI Eurozone ETF 0.24% 6,400 $396K No change
GOOGL Alphabet Inc. Class A 0.24% 1,628 $396K Add +8.0%
EFA iShares MSCI Eafe ETF 0.24% 4,200 $392K No change
MSFT Microsoft Corp. 0.24% 753 $390K Add +10.4%
VWO Vanguard Ftse Emerging Marke 0.23% 7,163 $388K Add +10.2%
EAGG iShares ESG Aware US Aggrega 0.23% 7,776 $373K Add +0.8%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.23% 2,702 $372K No change
IWR iShares Russell Mid-Cap ETF 0.22% 3,814 $368K No change
GOOG Alphabet Inc. Class C 0.22% 1,490 $363K No change
IFGL iShares International Develo 0.21% 15,404 $355K Reduce -2.4%
IVV iShares Core S&P 500 ETF 0.21% 514 $344K Add +6.9%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.20% 828 $333K No change
PRF Invesco Rafi US 1000 ETF 0.19% 6,909 $312K Reduce -0.2%
IWB iShares Russell 1000 ETF 0.19% 851 $311K No change
ADBE Adobe Inc. 0.18% 865 $305K No change
IYF iShares US Financials ETF 0.18% 2,406 $305K No change
PRFZ Inv Rafi US 1500 SM-Usd Inc. 0.18% 6,693 $304K Reduce -8.5%
VPL Vanguard Ftse Pacific ETF 0.18% 3,458 $304K No change
IEUS iShares MSCI Europe Small-Ca 0.18% 4,360 $294K No change
PDI PIMCO Dynamic Income Fund 0.17% 13,874 $275K No change
VOOG Vanguard S&P 500 Growth ETF 0.16% 620 $270K No change
SPGI S&P Global Inc. 0.16% 548 $267K No change
VOO Vanguard S&P 500 ETF 0.16% 429 $263K Reduce -2.7%
GLD SPDR Gold Shares 0.14% 656 $233K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.14% 4,415 $228K No change
ESGE iShares Inc. iShares ESG Awar 0.13% 5,043 $219K Reduce -8.8%
SDY SS SPDR S&P Dividend ETF 0.13% 1,549 $217K No change
VSGX Vanguard ESG Intl Stock ETF 0.13% 3,017 $209K New
META Meta Platforms Inc. Class A 0.12% 280 $206K No change
JPST JPMorgan Ultra-Short Income 0.12% 4,000 $203K No change
CGBD Carlyle Secured Lending Inc. 0.09% 11,930 $149K Reduce -32.2%
PFN PIMCO Income Strategy FD II 0.07% 14,955 $114K Reduce -13.1%
ETW Eaton Vance T/M GLBL Buy-WR 0.07% 12,466 $113K Reduce -17.4%

Portfolio Sells Q2 2025 → Q3 2025
JEPI JPMorgan Equity Premium Inco Reduce -2.5% 4.22% −0.41
EMB iShares JP Morgan Usd Emergi Reduce -0.7% 3.30% −0.18
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -2.2% 1.84% −0.17
ROP Roper Technologies Inc. Sold out 0.00% −0.15
ETJ Eaton Vance RSK-MGD Divers Reduce -4.7% 1.05% −0.14
BOXX Alpha Architect 1-3 MNTH Box Sold out 0.00% −0.14
SPGP Invesco S&P 500 Garp ETF Reduce -8.4% 0.85% −0.10
CGBD Carlyle Secured Lending Inc. Reduce -32.2% 0.09% −0.07
DFIC Dimensional International Co. Reduce -2.0% 1.28% −0.05
VIG Vanguard Dividend Apprec ETF Reduce -6.4% 0.37% −0.03
AMZN Amazon.com Inc. Reduce -2.5% 0.30% −0.03
ESGV Vanguard ESG US Stock ETF Reduce -5.7% 0.42% −0.02
IFGL iShares International Develo Reduce -2.4% 0.21% −0.02
IXUS iShares Core Intl Stock ETF Reduce -1.9% 0.70% −0.02
ETW Eaton Vance T/M GLBL Buy-WR Reduce -17.4% 0.07% −0.02
PFN PIMCO Income Strategy FD II Reduce -13.1% 0.07% −0.01
PRFZ Inv Rafi US 1500 SM-Usd Inc. Reduce -8.5% 0.18% −0.01
ESGE iShares Inc. iShares ESG Awar Reduce -8.8% 0.13% −0.01
VOO Vanguard S&P 500 ETF Reduce -2.7% 0.16% −0.00
PRF Invesco Rafi US 1000 ETF Reduce -0.2% 0.19% −0.00
DFEM Dimensional Emrg MRKT Core Reduce -0.6% 1.11% −0.00
VONG Vanguard Russell 1000 Growth Reduce -0.3% 1.20% +0.03
VUG Vanguard Mrngstar GR ETF-Sui Reduce -0.1% 2.40% +0.04
TSLA Tesla Inc. Reduce -0.3% 0.79% +0.18

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +5.4% 2.14% +0.38
VTI VG Morningstar TS MKT ETF-US Add +4.7% 6.82% +0.34
IAU iShares Gold Trust Add +0.9% 2.96% +0.26
SPY SS SPDR S&P 500 ETF Trust-US Add +29.7% 0.79% +0.18
DFAC Dimensional US Core Equity 2 Add +1.1% 14.64% +0.18
GLD SPDR Gold Shares New 0.14% +0.14
VSGX Vanguard ESG Intl Stock ETF New 0.13% +0.13
SRE Sempra Add +32.6% 0.30% +0.09
HD Home Depot Inc. Add +3.6% 1.51% +0.09
DFAE Dimensional Emerging Core Eq Add +0.5% 4.58% +0.08
GOOGL Alphabet Inc. Class A Add +8.0% 0.24% +0.07
NVDA Nvidia Corp. Add +6.0% 0.28% +0.04
DFAX Dimensional World Ex US Core Add +9.6% 0.42% +0.03
VWO Vanguard Ftse Emerging Marke Add +10.2% 0.23% +0.03
MSFT Microsoft Corp. Add +10.4% 0.24% +0.02
IVV iShares Core S&P 500 ETF Add +6.9% 0.21% +0.01
VEA Vanguard Ftse Developed ETF Add +6.9% 0.31% +0.01
XOM Exxon Mobil Corp. Add +1.4% 0.66% −0.01
DIA SS SPDR Dow Jones Indus Avg Add +0.5% 0.68% −0.01
EAGG iShares ESG Aware US Aggrega Add +0.8% 0.23% −0.01
V Visa Inc. Class A Add +0.1% 0.37% −0.04
COST Costco Wholesale Corp. Add +2.1% 0.39% −0.05
VNQI Vanguard GLBL Ex-US Real Est Add +0.8% 2.66% −0.08
DFAI Dimensional International Co. Add +1.3% 10.50% −0.10
VNQ Vanguard Real Estate ETF Add +1.6% 3.42% −0.11
VWOB Vanguard Emerg MKTS Gov BND Add +3.5% 8.35% −0.12

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