Focus Financial Network, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), Focus Financial Network, Inc. reported 665 stock positions worth $2.5 billion. Its top holding was Nvidia (NVDA) at 9.8% of the portfolio, followed by Schwab US Large-Cap Growth (SCHG, 5.1%) and iShares Core S&P 500 ETF (IVV, 4.4%). Compared with Q3 2024, it opened 44 new positions, sold out of 47, added to 317 and reduced 261. The biggest buy was a new position in JPMorgan Active Bond ETF (JBND) and the biggest sale iShares 10-20 Year Treasury (TLH, shares −85%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0002010942
- Portfolio Value
- $2.5B (Q4 2024)
- SEC Filing
- 0001754960-25-000080 ↗ filed Jan 29, 2025
Holdings Value
Holdings 665 stocks · $2.5B
| NVDA Nvidia Corp. | 9.76% | 1,827,805 | $245.5M | Reduce -2.4% |
| SCHG Schwab US Large-Cap Growth | 5.11% | 4,609,367 | $128.5M | Add +0.9% |
| IVV iShares Core S&P 500 ETF | 4.41% | 188,496 | $111.0M | Reduce -3.6% |
| AAPL Apple Inc. | 3.93% | 394,447 | $98.8M | Reduce -1.6% |
| SCHD Schwab US DVD Equity ETF | 3.46% | 3,183,816 | $87.0M | Add +3.5% |
| QQQ Invesco QQQ Trust Series 1 | 3.33% | 163,851 | $83.8M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 2.81% | 322,140 | $70.7M | Add +1.9% |
| AGG iShares Core U.S. Aggregate | 2.19% | 568,391 | $55.1M | Add +15.8% |
| MSFT Microsoft Corp. | 1.33% | 79,295 | $33.4M | Add +3.9% |
| QLD Proshares Ultra QQQ | 1.29% | 299,079 | $32.4M | Add +0.1% |
| VYM Vanguard High DVD Yield ETF | 1.12% | 221,409 | $28.2M | Reduce -4.9% |
| XMHQ Invesco S&P Midcap Qual ETF | 1.10% | 281,815 | $27.8M | Add +5.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.10% | 60,916 | $27.6M | Add +5.1% |
| VOO Vanguard S&P 500 ETF | 1.09% | 51,065 | $27.5M | Add +13.1% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.07% | 598,918 | $26.9M | Add +0.4% |
| SCHV Schwab US Large-Cap Value | 1.07% | 1,031,057 | $26.9M | Reduce -8.6% |
| IEF iShares 7-10 Year Treasury B | 1.03% | 279,464 | $25.8M | Reduce -1.1% |
| VXUS Vanguard Total Intl Stock | 0.99% | 420,742 | $24.8M | Add +0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.98% | 41,877 | $24.5M | Add +1.9% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.95% | 347,708 | $24.0M | Add +6.5% |
| UNH Unitedhealth Group Inc. | 0.90% | 44,709 | $22.6M | Reduce -3.7% |
| IWR iShares Russell Mid-Cap ETF | 0.87% | 246,668 | $21.8M | Add +1.3% |
| SCHB Schwab US Broad Market ETF | 0.81% | 900,823 | $20.4M | Reduce -8.4% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.77% | 585,157 | $19.4M | Add +11.2% |
| VIG Vanguard Dividend Apprec ETF | 0.76% | 97,307 | $19.1M | Add +8.3% |
| NOW ServiceNow Inc. | 0.74% | 17,617 | $18.7M | Add +32.7% |
| XLK SS Technology Select Sector | 0.69% | 74,268 | $17.3M | Add +0.5% |
| IVW iShares S&P 500 Growth ETF | 0.68% | 168,942 | $17.2M | Reduce -0.3% |
| GTO Invesco Total Return Bond Et | 0.68% | 367,814 | $17.1M | Add +4.3% |
| GOOGL Alphabet Inc. Class A | 0.64% | 85,313 | $16.1M | Reduce -3.0% |
| QQQM Invesco Nasdaq 100 ETF | 0.64% | 76,228 | $16.0M | Add +9.1% |
| ILTB iShares Core 10+ Year Usd Bo | 0.63% | 324,043 | $15.8M | Add +3.4% |
| QUAL iShares MSCI USA Quality Fac | 0.62% | 87,289 | $15.5M | Reduce -6.3% |
| SCHX Schwab US Large-Cap ETF | 0.61% | 656,736 | $15.2M | Reduce -2.0% |
| XMMO Invesco S&P Midcap Momentum | 0.60% | 122,764 | $15.2M | Reduce -1.0% |
| SPHQ Invesco S&P 500 Quality ETF | 0.57% | 212,946 | $14.3M | Add +0.5% |
| VEA Vanguard Ftse Developed ETF | 0.56% | 292,171 | $14.0M | Add +60.5% |
| DGRW Wisdomtree U.S. Quality Divi | 0.55% | 169,913 | $13.8M | Reduce -0.4% |
| XSMO Invesco S&P Smallcap Momentu | 0.54% | 203,782 | $13.5M | Reduce -0.6% |
| SCHM Schwab US Mid Cap ETF | 0.50% | 451,341 | $12.5M | Reduce -9.7% |
| VWO Vanguard Ftse Emerging Marke | 0.50% | 283,712 | $12.5M | Add +3.9% |
| JBND JPMorgan Active Bond ETF | 0.48% | 229,335 | $12.0M | New |
| BSV Vanguard Short-Term Bond ETF | 0.45% | 146,100 | $11.3M | Reduce -0.2% |
| JPIE JPMorgan Income ETF | 0.44% | 243,812 | $11.2M | Reduce -13.0% |
| SCHA Schwab US Small-Cap ETF | 0.43% | 414,602 | $10.7M | Reduce -1.4% |
| COST Costco Wholesale Corp. | 0.41% | 11,379 | $10.4M | Add +6.6% |
| IVE iShares S&P 500 Value ETF | 0.35% | 46,598 | $8.9M | Add +8.1% |
| TSLA Tesla Inc. | 0.35% | 21,797 | $8.8M | Reduce -2.5% |
| SCHZ Schwab US Aggregate Bond ETF | 0.34% | 379,368 | $8.6M | Add +6.8% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.34% | 187,476 | $8.5M | Reduce -19.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.34% | 29,221 | $8.5M | Add +0.0% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.33% | 190,654 | $8.4M | Reduce -7.8% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.33% | 163,987 | $8.4M | Reduce -3.8% |
| MUB iShares National Muni Bond E | 0.33% | 78,833 | $8.4M | Reduce -1.7% |
| JPM JPMorgan Chase & Co. | 0.33% | 34,737 | $8.3M | Add +1.7% |
| AOM iShares Core 40/60 Moderate | 0.33% | 189,506 | $8.2M | Add +12.7% |
| MMM 3M Co. | 0.32% | 62,128 | $8.0M | Add +0.7% |
| EFG iShares MSCI Eafe Growth ETF | 0.32% | 82,818 | $8.0M | Add +14.2% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.31% | 28,212 | $7.9M | Reduce -0.6% |
| EFV iShares MSCI Eafe Value ETF | 0.31% | 147,085 | $7.7M | Add +12.6% |
| DBEF Xtrackers MSCI Eafe Hedged E | 0.30% | 183,858 | $7.6M | Add +917.2% |
| SHY iShares 1-3 Year Treasury Bo | 0.30% | 92,442 | $7.6M | Reduce -1.7% |
| AVGO Broadcom Inc. | 0.30% | 32,650 | $7.6M | Reduce -5.3% |
| SGOL Abrdn Physical Gold Shares | 0.30% | 299,066 | $7.5M | Add +0.6% |
| XEL Xcel Energy Inc. | 0.29% | 109,331 | $7.4M | Reduce -1.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.29% | 43,539 | $7.4M | Add +30.3% |
| LLY Eli Lilly & Co. | 0.29% | 9,444 | $7.3M | Reduce -20.5% |
| SCHF Schwab Intl Equity ETF | 0.29% | 389,102 | $7.2M | Reduce -6.3% |
| IQLT iShares MSCI International Q | 0.27% | 185,996 | $6.9M | Add +4.5% |
| IYW iShares Ustechnology ETF | 0.27% | 42,658 | $6.8M | Reduce -23.2% |
| SCHP Schwab U.S. Tips ETF | 0.27% | 263,315 | $6.8M | Add +282.7% |
| VHT Vanguard Health Care ETF | 0.27% | 26,807 | $6.8M | Reduce -0.5% |
| GLD SPDR Gold Shares | 0.27% | 27,632 | $6.7M | Add +4.4% |
| META Meta Platforms Inc. Class A | 0.26% | 11,249 | $6.6M | Add +18.1% |
| XSVM Invesco S&P Smallcap Value W | 0.25% | 116,621 | $6.4M | Add +2.1% |
| XLY SS Consumer Disc Select Sect | 0.25% | 28,031 | $6.3M | Add +21.9% |
| SDVY First Trust Smid Cap Rising | 0.24% | 169,554 | $6.1M | Add +6.7% |
| XLE SS Energy Select Sector | 0.23% | 68,880 | $5.9M | Add +20.8% |
| PNR Pentair PLC | 0.23% | 58,302 | $5.9M | Reduce -1.9% |
| RDVY First Trust Rising Dividend | 0.22% | 94,132 | $5.6M | Add +77.1% |
| RSP Invesco S&P 500 Equal Weight | 0.21% | 29,815 | $5.2M | Add +4.4% |
| TGT Target Corp. | 0.21% | 38,199 | $5.2M | Reduce -0.2% |
| PFM Invesco Dividend Achievers E | 0.21% | 112,528 | $5.2M | Reduce -3.8% |
| RDDT Reddit Inc. Class A | 0.20% | 31,396 | $5.1M | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.19% | 11,721 | $4.8M | Add +0.6% |
| JQUA JPMorgan US Quality Factor | 0.19% | 82,876 | $4.7M | Add +4.4% |
| XLF SS Financial Select Sector | 0.19% | 96,841 | $4.7M | Add +47.6% |
| IMTM iShares MSCI Intl Momentum F | 0.19% | 124,484 | $4.7M | Add +1.0% |
| DAL Delta Air Lines Inc. | 0.18% | 76,809 | $4.6M | Reduce -12.7% |
| VGT Vanguard Info Tech ETF | 0.18% | 7,424 | $4.6M | Reduce -1.0% |
| JNJ Johnson & Johnson | 0.18% | 31,588 | $4.6M | Reduce -10.1% |
| USFR Wisdomtree Floating Rate Tre | 0.18% | 90,484 | $4.6M | Reduce -7.1% |
| SCHO Schwab Short-Term US Treas | 0.18% | 187,835 | $4.5M | Add +7.2% |
| V Visa Inc. Class A | 0.18% | 14,222 | $4.5M | Add +0.1% |
| XLP SS Consumer Staples Sel Sect | 0.17% | 55,581 | $4.4M | Reduce -0.3% |
| BND Vanguard Total Bond Market | 0.17% | 60,601 | $4.4M | Add +7.3% |
| ECL Ecolab Inc. | 0.17% | 18,424 | $4.3M | Reduce -1.6% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.17% | 46,586 | $4.3M | Add +9.7% |
| VUSB Vanguard Ultra Short Bond Et | 0.17% | 85,752 | $4.3M | Add +0.5% |
| HD Home Depot Inc. | 0.17% | 10,900 | $4.2M | Add +0.6% |
Portfolio Sells Q3 2024 → Q4 2024
| TLH iShares 10-20 Year Treasury | Reduce -85.0% | 0.04% | −0.26 |
| CWI State Street SPDR MSCI Acwi | Reduce -66.5% | 0.11% | −0.25 |
| SCHR Schwab Intermediate-Term US | Reduce -65.3% | 0.10% | −0.21 |
| UNH Unitedhealth Group Inc. | Reduce -3.7% | 0.90% | −0.21 |
| IVV iShares Core S&P 500 ETF | Reduce -3.6% | 4.41% | −0.20 |
| SCHV Schwab US Large-Cap Value | Reduce -8.6% | 1.07% | −0.17 |
| GAA Cambria Global Asset Allocat | Sold out | 0.00% | −0.15 |
| LLY Eli Lilly & Co. | Reduce -20.5% | 0.29% | −0.14 |
| GOVT iShares US Treasury Bond ETF | Reduce -84.7% | 0.02% | −0.12 |
| JPST JPMorgan Ultra-Short Income | Reduce -54.2% | 0.09% | −0.12 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -19.4% | 0.34% | −0.11 |
| IEF iShares 7-10 Year Treasury B | Reduce -1.1% | 1.03% | −0.11 |
| VYM Vanguard High DVD Yield ETF | Reduce -4.9% | 1.12% | −0.10 |
| JPIE JPMorgan Income ETF | Reduce -13.0% | 0.44% | −0.09 |
| BSMO Invesco Bulletshares 2024 MB | Sold out | 0.00% | −0.08 |
| GIS General Mills Inc. | Reduce -65.4% | 0.03% | −0.08 |
| SCHB Schwab US Broad Market ETF | Reduce -8.4% | 0.81% | −0.08 |
| AOR iShares Core 60/40 Balanced | Reduce -48.9% | 0.07% | −0.08 |
| IYW iShares Ustechnology ETF | Reduce -23.2% | 0.27% | −0.07 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -47.0% | 0.08% | −0.07 |
| SCHM Schwab US Mid Cap ETF | Reduce -9.7% | 0.50% | −0.07 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -72.2% | 0.02% | −0.07 |
| QUAL iShares MSCI USA Quality Fac | Reduce -6.3% | 0.62% | −0.06 |
| TLT iShares 20+ Year Treasury BD | Reduce -32.1% | 0.09% | −0.06 |
| SCHF Schwab Intl Equity ETF | Reduce -6.3% | 0.29% | −0.06 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -7.8% | 0.33% | −0.06 |
| JNJ Johnson & Johnson | Reduce -10.1% | 0.18% | −0.05 |
| XLV SS Health Care Select Sector | Reduce -13.0% | 0.16% | −0.05 |
| GLTR Abrdn Precious Metals Basket | Reduce -49.2% | 0.05% | −0.05 |
| IWD iShares Russell 1000 Value E | Reduce -47.2% | 0.05% | −0.05 |
| AI C3.AI Inc. Class A | Sold out | 0.00% | −0.04 |
| IAU iShares Gold Trust | Reduce -41.0% | 0.06% | −0.04 |
| PFFD Global X US Preferred ETF | Reduce -75.2% | 0.01% | −0.04 |
| VHT Vanguard Health Care ETF | Reduce -0.5% | 0.27% | −0.04 |
| TGT Target Corp. | Reduce -0.2% | 0.21% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -11.0% | 0.13% | −0.03 |
| DGRW Wisdomtree U.S. Quality Divi | Reduce -0.4% | 0.55% | −0.03 |
| ABBV Abbvie Inc. | Reduce -9.6% | 0.11% | −0.03 |
| AMGN Amgen Inc. | Reduce -15.6% | 0.05% | −0.03 |
| CVS CVS Health Corp. | Reduce -39.3% | 0.02% | −0.03 |
| ECL Ecolab Inc. | Reduce -1.6% | 0.17% | −0.02 |
| URTH iShares MSCI World ETF | Sold out | 0.00% | −0.02 |
| SPSC SPS Commerce Inc. | Reduce -17.1% | 0.07% | −0.02 |
| FDN First Trust DJ Internet Ind | Reduce -41.3% | 0.04% | −0.02 |
| MUB iShares National Muni Bond E | Reduce -1.7% | 0.33% | −0.02 |
| BSV Vanguard Short-Term Bond ETF | Reduce -0.2% | 0.45% | −0.02 |
| RSPT Invesco S&P 500 Equal Weight | Reduce -18.5% | 0.08% | −0.02 |
| HEFA Isha Curr Hedged MSCI Eafe | Sold out | 0.00% | −0.02 |
| MDT Medtronic PLC | Reduce -1.2% | 0.11% | −0.02 |
| CAT Caterpillar Inc. | Reduce -1.2% | 0.16% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| JBND JPMorgan Active Bond ETF | New | 0.48% | +0.48 |
| AMZN Amazon.com Inc. | Add +1.9% | 2.81% | +0.40 |
| DBEF Xtrackers MSCI Eafe Hedged E | Add +917.2% | 0.30% | +0.27 |
| NOW ServiceNow Inc. | Add +32.7% | 0.74% | +0.26 |
| SCHG Schwab US Large-Cap Growth | Add +0.9% | 5.11% | +0.25 |
| RDDT Reddit Inc. Class A | New | 0.20% | +0.20 |
| SCHP Schwab U.S. Tips ETF | Add +282.7% | 0.27% | +0.20 |
| VEA Vanguard Ftse Developed ETF | Add +60.5% | 0.56% | +0.16 |
| AGG iShares Core U.S. Aggregate | Add +15.8% | 2.19% | +0.16 |
| VOO Vanguard S&P 500 ETF | Add +13.1% | 1.09% | +0.12 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.10% | +0.10 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +296.8% | 0.12% | +0.09 |
| RDVY First Trust Rising Dividend | Add +77.1% | 0.22% | +0.09 |
| SCYB Schwab High Yield Bond ETF | New | 0.08% | +0.08 |
| MDYG SS SPDR S&P 400 MC GR ETF | Add +269.9% | 0.10% | +0.08 |
| QQQM Invesco Nasdaq 100 ETF | Add +9.1% | 0.64% | +0.06 |
| XLF SS Financial Select Sector | Add +47.6% | 0.19% | +0.06 |
| XLY SS Consumer Disc Select Sect | Add +21.9% | 0.25% | +0.06 |
| QUBT Quantum Computing Inc. | New | 0.06% | +0.06 |
| QLD Proshares Ultra QQQ | Add +0.1% | 1.29% | +0.06 |
| SOXX iShares Semiconductor ETF | Add +283.8% | 0.08% | +0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +30.3% | 0.29% | +0.05 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +6.5% | 0.95% | +0.05 |
| FLIN Franklin Ftse India ETF | New | 0.05% | +0.05 |
| BSMP Invesco Bulletshares 2025 MB | Add +98.6% | 0.10% | +0.05 |
| FXL First Trust Technology Alpha | New | 0.04% | +0.04 |
| FLQM Franklin U.S. Mid Cap Multif | Add +278.8% | 0.06% | +0.04 |
| FYC First Trust Small Cap Growth | New | 0.04% | +0.04 |
| META Meta Platforms Inc. Class A | Add +18.1% | 0.26% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +1.7% | 0.33% | +0.04 |
| GLDM SPDR Gold Minishares Trust | New | 0.04% | +0.04 |
| KRE SS SPDR S&P Regional Bank | New | 0.03% | +0.03 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +50.3% | 0.13% | +0.03 |
| TCAF T Rowe PRC Cap Appreciation | Add +32.4% | 0.15% | +0.03 |
| IOO iShares Global 100 ETF | New | 0.03% | +0.03 |
| ITOT iShares Core S&P Total U.S. | Add +181.7% | 0.05% | +0.03 |
| JAAA Janus Henderson Aaa Clo ETF | Add +44.3% | 0.11% | +0.03 |
| XLE SS Energy Select Sector | Add +20.8% | 0.23% | +0.03 |
| JSML Janus Hender SM Cap GRW Alph | New | 0.03% | +0.03 |
| JEPI JPMorgan Equity Premium Inco | Add +36.8% | 0.12% | +0.03 |
| ARCC Ares Capital Corp. | Add +20.4% | 0.15% | +0.03 |
| COST Costco Wholesale Corp. | Add +6.6% | 0.41% | +0.03 |
| VIG Vanguard Dividend Apprec ETF | Add +8.3% | 0.76% | +0.03 |
| WMT Walmart Inc. | Add +12.9% | 0.14% | +0.03 |
| BLK BlackRock Inc. | New | 0.02% | +0.02 |
| NMS Nuveen MN QLTY Muni Inc. | New | 0.02% | +0.02 |
| DECW Alianzim US Eq BFR20 Dec-Usd | New | 0.02% | +0.02 |
| VT Vanguard Tot World STK ETF | Add +60.3% | 0.07% | +0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +59.5% | 0.07% | +0.02 |
| JEPQ JPM Nasdaq Equity Premium | New | 0.02% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 764 | $3.2B | NVDA, SCHG, QQQ, AAPL, IVV |
| Q1 2026 | 729 | $2.8B | NVDA, SCHG, QQQ, AAPL, IVV |
| Q4 2025 | 725 | $2.9B | NVDA, SCHG, QQQ, AAPL, IVV |
| Q3 2025 | 738 | $2.8B | NVDA, SCHG, QQQ, AAPL, SCHD |
| Q2 2025 | 704 | $2.5B | NVDA, SCHG, QQQ, SCHD, AAPL |
| Q1 2025 | 684 | $2.4B | NVDA, SCHG, IVV, SCHD, AAPL |
| Q4 2024 | 665 | $2.5B | NVDA, SCHG, IVV, AAPL, SCHD |
| Q3 2024 | 668 | $2.4B | NVDA, SCHG, IVV, AAPL, SCHD |
| Q2 2024 | 657 | $2.3B | NVDA, SCHG, IVV, AAPL, SCHD |
| Q1 2024 | 626 | $2.1B | NVDA, SCHG, IVV, SCHD, AAPL |