Focus Financial Network, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 15, 2025), Focus Financial Network, Inc. reported 684 stock positions worth $2.4 billion. Its top holding was Nvidia (NVDA) at 8.4% of the portfolio, followed by Schwab US Large-Cap Growth (SCHG, 4.7%) and iShares Core S&P 500 ETF (IVV, 4.4%). Compared with Q4 2024, it opened 48 new positions, sold out of 29, added to 326 and reduced 272. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +13%) and the biggest sale Schwab US Large-Cap Growth (SCHG, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0002010942
- Portfolio Value
- $2.4B (Q1 2025)
- SEC Filing
- 0001754960-25-000196 ↗ filed Apr 15, 2025
Holdings Value
Holdings 684 stocks · $2.4B
| NVDA Nvidia Corp. | 8.41% | 1,897,135 | $205.6M | Add +3.8% |
| SCHG Schwab US Large-Cap Growth | 4.69% | 4,580,537 | $114.7M | Reduce -0.6% |
| IVV iShares Core S&P 500 ETF | 4.36% | 189,775 | $106.6M | Add +0.7% |
| SCHD Schwab US DVD Equity ETF | 3.73% | 3,262,533 | $91.2M | Add +2.5% |
| AAPL Apple Inc. | 3.52% | 387,717 | $86.1M | Reduce -1.7% |
| QQQ Invesco QQQ Trust Series 1 | 3.13% | 163,307 | $76.6M | Reduce -0.3% |
| AGG iShares Core U.S. Aggregate | 2.60% | 643,714 | $63.7M | Add +13.3% |
| AMZN Amazon.com Inc. | 2.51% | 323,070 | $61.5M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.36% | 62,389 | $33.2M | Add +2.4% |
| MSFT Microsoft Corp. | 1.23% | 80,263 | $30.1M | Add +1.2% |
| IEF iShares 7-10 Year Treasury B | 1.23% | 314,607 | $30.0M | Add +12.6% |
| XMHQ Invesco S&P Midcap Qual ETF | 1.13% | 302,492 | $27.7M | Add +7.3% |
| VYM Vanguard High DVD Yield ETF | 1.13% | 214,542 | $27.7M | Reduce -3.1% |
| VXUS Vanguard Total Intl Stock | 1.13% | 443,621 | $27.5M | Add +5.4% |
| SCHV Schwab US Large-Cap Value | 1.11% | 1,019,898 | $27.1M | Reduce -1.1% |
| QLD Proshares Ultra QQQ | 1.09% | 299,079 | $26.6M | No change |
| VOO Vanguard S&P 500 ETF | 1.07% | 51,159 | $26.3M | Add +0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.02% | 44,646 | $25.0M | Add +6.6% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.02% | 609,513 | $24.8M | Add +1.8% |
| UNH Unitedhealth Group Inc. | 0.92% | 42,876 | $22.5M | Reduce -4.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.91% | 336,929 | $22.2M | Reduce -3.1% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.89% | 602,643 | $21.8M | Add +3.0% |
| IWR iShares Russell Mid-Cap ETF | 0.84% | 241,827 | $20.6M | Reduce -2.0% |
| SCHB Schwab US Broad Market ETF | 0.82% | 934,523 | $20.1M | Add +3.7% |
| VIG Vanguard Dividend Apprec ETF | 0.78% | 98,083 | $19.0M | Add +0.8% |
| QUAL iShares MSCI USA Quality Fac | 0.74% | 106,597 | $18.2M | Add +22.1% |
| GTO Invesco Total Return Bond Et | 0.72% | 374,240 | $17.6M | Add +1.8% |
| IVW iShares S&P 500 Growth ETF | 0.72% | 188,525 | $17.5M | Add +11.6% |
| ILTB iShares Core 10+ Year Usd Bo | 0.68% | 333,699 | $16.7M | Add +3.0% |
| NOW ServiceNow Inc. | 0.67% | 20,645 | $16.4M | Add +17.2% |
| VEA Vanguard Ftse Developed ETF | 0.66% | 315,200 | $16.0M | Add +7.9% |
| XLK SS Technology Select Sector | 0.62% | 73,789 | $15.2M | Reduce -0.6% |
| SPHQ Invesco S&P 500 Quality ETF | 0.59% | 216,925 | $14.4M | Add +1.9% |
| SCHX Schwab US Large-Cap ETF | 0.58% | 644,560 | $14.2M | Reduce -1.9% |
| QQQM Invesco Nasdaq 100 ETF | 0.58% | 73,618 | $14.2M | Reduce -3.4% |
| XMMO Invesco S&P Midcap Momentum | 0.56% | 119,849 | $13.6M | Reduce -2.4% |
| DGRW Wisdomtree U.S. Quality Divi | 0.55% | 169,730 | $13.6M | Reduce -0.1% |
| VWO Vanguard Ftse Emerging Marke | 0.54% | 294,200 | $13.3M | Add +3.7% |
| GOOGL Alphabet Inc. Class A | 0.54% | 85,755 | $13.3M | Add +0.5% |
| XSMO Invesco S&P Smallcap Momentu | 0.52% | 201,233 | $12.6M | Reduce -1.3% |
| SDVY First Trust Smid Cap Rising | 0.51% | 371,815 | $12.5M | Add +119.3% |
| JBND JPMorgan Active Bond ETF | 0.48% | 220,881 | $11.8M | Reduce -3.7% |
| BSV Vanguard Short-Term Bond ETF | 0.47% | 146,096 | $11.4M | Reduce 0.0% |
| SCHM Schwab US Mid Cap ETF | 0.46% | 431,494 | $11.3M | Reduce -4.4% |
| IVE iShares S&P 500 Value ETF | 0.45% | 57,967 | $11.0M | Add +24.4% |
| JPIE JPMorgan Income ETF | 0.45% | 238,293 | $11.0M | Reduce -2.3% |
| COST Costco Wholesale Corp. | 0.44% | 11,453 | $10.8M | Add +0.7% |
| DBEF Xtrackers MSCI Eafe Hedged E | 0.43% | 241,731 | $10.5M | Add +31.5% |
| SCHA Schwab US Small-Cap ETF | 0.39% | 410,221 | $9.6M | Reduce -1.1% |
| SGOL Abrdn Physical Gold Shares | 0.38% | 310,181 | $9.2M | Add +3.7% |
| SCHZ Schwab US Aggregate Bond ETF | 0.37% | 393,657 | $9.1M | Add +3.8% |
| MMM 3M Co. | 0.37% | 61,543 | $9.0M | Reduce -0.9% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.37% | 195,869 | $9.0M | Add +4.5% |
| VTI VG Morningstar TS MKT ETF-US | 0.36% | 32,120 | $8.8M | Add +9.9% |
| MUB iShares National Muni Bond E | 0.36% | 82,684 | $8.7M | Add +4.9% |
| JPM JPMorgan Chase & Co. | 0.35% | 34,971 | $8.6M | Add +0.7% |
| GLD SPDR Gold Shares | 0.35% | 29,569 | $8.5M | Add +7.0% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.35% | 174,217 | $8.5M | Add +6.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.32% | 45,085 | $7.8M | Add +3.5% |
| SCHP Schwab U.S. Tips ETF | 0.32% | 287,992 | $7.7M | Add +9.4% |
| SCHF Schwab Intl Equity ETF | 0.32% | 390,538 | $7.7M | Add +0.4% |
| SHY iShares 1-3 Year Treasury Bo | 0.31% | 91,710 | $7.6M | Reduce -0.8% |
| IQLT iShares MSCI International Q | 0.31% | 189,492 | $7.5M | Add +1.9% |
| XEL Xcel Energy Inc. | 0.30% | 103,897 | $7.4M | Reduce -5.0% |
| EFV iShares MSCI Eafe Value ETF | 0.30% | 122,895 | $7.2M | Reduce -16.4% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.30% | 192,579 | $7.2M | Add +1.0% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.29% | 28,639 | $7.2M | Add +1.5% |
| LLY Eli Lilly & Co. | 0.29% | 8,605 | $7.1M | Reduce -8.9% |
| META Meta Platforms Inc. Class A | 0.28% | 11,988 | $6.9M | Add +6.6% |
| VHT Vanguard Health Care ETF | 0.28% | 26,092 | $6.9M | Reduce -2.7% |
| IYW iShares Ustechnology ETF | 0.28% | 48,501 | $6.8M | Add +13.7% |
| XLE SS Energy Select Sector | 0.27% | 71,672 | $6.7M | Add +4.0% |
| RDVY First Trust Rising Dividend | 0.25% | 106,472 | $6.2M | Add +13.1% |
| TSLA Tesla Inc. | 0.24% | 22,467 | $5.8M | Add +3.1% |
| AVGO Broadcom Inc. | 0.23% | 34,067 | $5.7M | Add +4.3% |
| EFG iShares MSCI Eafe Growth ETF | 0.23% | 55,658 | $5.6M | Reduce -32.8% |
| AOM iShares Core 40/60 Moderate | 0.23% | 126,327 | $5.5M | Reduce -33.3% |
| XLF SS Financial Select Sector | 0.22% | 109,660 | $5.5M | Add +13.2% |
| XLY SS Consumer Disc Select Sect | 0.22% | 27,508 | $5.4M | Reduce -1.9% |
| RSP Invesco S&P 500 Equal Weight | 0.21% | 30,347 | $5.3M | Add +1.8% |
| PFM Invesco Dividend Achievers E | 0.21% | 112,919 | $5.2M | Add +0.3% |
| PNR Pentair PLC | 0.21% | 58,303 | $5.1M | Add +0.0% |
| V Visa Inc. Class A | 0.21% | 14,525 | $5.1M | Add +2.1% |
| JNJ Johnson & Johnson | 0.21% | 30,416 | $5.0M | Reduce -3.7% |
| JQUA JPMorgan US Quality Factor | 0.20% | 88,098 | $5.0M | Add +6.3% |
| IMTM iShares MSCI Intl Momentum F | 0.20% | 122,802 | $4.9M | Reduce -1.4% |
| ABT Abbott Laboratories | 0.20% | 36,397 | $4.8M | Add +0.3% |
| USFR Wisdomtree Floating Rate Tre | 0.19% | 94,737 | $4.8M | Add +4.7% |
| SCHO Schwab Short-Term US Treas | 0.19% | 192,044 | $4.7M | Add +2.2% |
| ECL Ecolab Inc. | 0.19% | 18,436 | $4.7M | Add +0.1% |
| XLP SS Consumer Staples Sel Sect | 0.19% | 55,927 | $4.6M | Add +0.6% |
| BND Vanguard Total Bond Market | 0.18% | 58,959 | $4.3M | Reduce -2.7% |
| PID Invesco International Divide | 0.18% | 226,313 | $4.3M | Add +0.5% |
| USMV iShares MSCI USA Min Vol Fac | 0.18% | 45,969 | $4.3M | Add +1.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.17% | 46,669 | $4.3M | Add +0.2% |
| MCD McDonald's Corp. | 0.17% | 13,606 | $4.3M | Add +1.5% |
| VGLT Vanguard Long-Term Treasury | 0.17% | 73,766 | $4.2M | Add +3.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.17% | 11,254 | $4.2M | Reduce -4.0% |
| COWZ Pacer US Cash Cows 100 ETF | 0.17% | 74,870 | $4.1M | Add +7.7% |
| VUSB Vanguard Ultra Short Bond Et | 0.17% | 81,999 | $4.1M | Reduce -4.4% |
Portfolio Sells Q4 2024 → Q1 2025
| SCHG Schwab US Large-Cap Growth | Reduce -0.6% | 4.69% | −0.42 |
| AAPL Apple Inc. | Reduce -1.7% | 3.52% | −0.41 |
| XSVM Invesco S&P Smallcap Value W | Sold out | 0.00% | −0.25 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.3% | 3.13% | −0.20 |
| RDDT Reddit Inc. Class A | Reduce -76.2% | 0.03% | −0.17 |
| AOM iShares Core 40/60 Moderate | Reduce -33.3% | 0.23% | −0.10 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -78.2% | 0.03% | −0.10 |
| CGW Invesco S&P Global Water Ind | Sold out | 0.00% | −0.10 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -32.8% | 0.23% | −0.09 |
| MDYG SS SPDR S&P 400 MC GR ETF | Reduce -70.4% | 0.03% | −0.08 |
| XLK SS Technology Select Sector | Reduce -0.6% | 0.62% | −0.06 |
| TLT iShares 20+ Year Treasury BD | Reduce -66.0% | 0.03% | −0.06 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -3.4% | 0.58% | −0.06 |
| SPSC SPS Commerce Inc. | Reduce -59.3% | 0.02% | −0.05 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -3.1% | 0.91% | −0.05 |
| XMMO Invesco S&P Midcap Momentum | Reduce -2.4% | 0.56% | −0.05 |
| TGT Target Corp. | Reduce -1.3% | 0.16% | −0.04 |
| FYC First Trust Small Cap Growth | Sold out | 0.00% | −0.04 |
| SCHM Schwab US Mid Cap ETF | Reduce -4.4% | 0.46% | −0.03 |
| IFRA iShares US Infrastructure | Reduce -74.3% | 0.01% | −0.03 |
| SCHA Schwab US Small-Cap ETF | Reduce -1.1% | 0.39% | −0.03 |
| SHOP Shopify Inc. Class A | Reduce -14.8% | 0.11% | −0.03 |
| XLY SS Consumer Disc Select Sect | Reduce -1.9% | 0.22% | −0.03 |
| BRK.A Berkshire Hathaway Inc. Class A | Sold out | 0.00% | −0.03 |
| HELO JPMorgan Hedged Equity ETF | Reduce -58.7% | 0.02% | −0.03 |
| IWR iShares Russell Mid-Cap ETF | Reduce -2.0% | 0.84% | −0.03 |
| USB US Bancorp | Reduce -12.7% | 0.10% | −0.03 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -25.2% | 0.10% | −0.02 |
| SCHX Schwab US Large-Cap ETF | Reduce -1.9% | 0.58% | −0.02 |
| VCLT Vanguard Long-Term Corp. Bond | Sold out | 0.00% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -4.0% | 0.17% | −0.02 |
| XSMO Invesco S&P Smallcap Momentu | Reduce -1.3% | 0.52% | −0.02 |
| JPST JPMorgan Ultra-Short Income | Reduce -22.9% | 0.07% | −0.02 |
| IOO iShares Global 100 ETF | Reduce -55.9% | 0.01% | −0.02 |
| HD Home Depot Inc. | Reduce -8.0% | 0.15% | −0.02 |
| ITOT iShares Core S&P Total U.S. | Reduce -33.0% | 0.03% | −0.02 |
| CL Colgate-Palmolive Co. | Sold out | 0.00% | −0.02 |
| FSK FS KKR Capital Corp. | Sold out | 0.00% | −0.02 |
| ONEQ Fidelity Nasdaq Comp Indx | Sold out | 0.00% | −0.02 |
| VT Vanguard Tot World STK ETF | Reduce -24.6% | 0.05% | −0.02 |
| JSML Janus Hender SM Cap GRW Alph | Reduce -49.8% | 0.01% | −0.02 |
| AMD Advanced Micro Devices | Reduce -18.6% | 0.04% | −0.01 |
| AOR iShares Core 60/40 Balanced | Reduce -23.0% | 0.06% | −0.01 |
| WHR Whirlpool Corp. | Reduce -52.3% | 0.01% | −0.01 |
| HON Honeywell International Inc. | Reduce -5.5% | 0.14% | −0.01 |
| QTJA Innovator Growth Acc Plus-J | Sold out | 0.00% | −0.01 |
| PANW Palo Alto Networks Inc. | Reduce -13.9% | 0.07% | −0.01 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −0.01 |
| ADSK Autodesk Inc. | Reduce -14.7% | 0.05% | −0.01 |
| SCHQ Schwab Long-Term US Treasury | Reduce -60.0% | 0.01% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| AGG iShares Core U.S. Aggregate | Add +13.3% | 2.60% | +0.41 |
| SCHD Schwab US DVD Equity ETF | Add +2.5% | 3.73% | +0.27 |
| SDVY First Trust Smid Cap Rising | Add +119.3% | 0.51% | +0.27 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.4% | 1.36% | +0.26 |
| IEF iShares 7-10 Year Treasury B | Add +12.6% | 1.23% | +0.20 |
| VXUS Vanguard Total Intl Stock | Add +5.4% | 1.13% | +0.14 |
| AIRR First Trust Rba American Ind | New | 0.14% | +0.14 |
| QUAL iShares MSCI USA Quality Fac | Add +22.1% | 0.74% | +0.13 |
| DBEF Xtrackers MSCI Eafe Hedged E | Add +31.5% | 0.43% | +0.13 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +3.0% | 0.89% | +0.12 |
| VEA Vanguard Ftse Developed ETF | Add +7.9% | 0.66% | +0.10 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | New | 0.10% | +0.10 |
| IVE iShares S&P 500 Value ETF | Add +24.4% | 0.45% | +0.10 |
| GLD SPDR Gold Shares | Add +7.0% | 0.35% | +0.08 |
| XLG Invesco S&P 500 Top 50 ETF | Add +310.6% | 0.11% | +0.08 |
| SGOL Abrdn Physical Gold Shares | Add +3.7% | 0.38% | +0.08 |
| IEFA iShares Core MSCI Eafe ETF | Add +345.0% | 0.08% | +0.07 |
| BSMQ Invesco Bulletshares 2026 MB | Add +510.1% | 0.08% | +0.06 |
| QVMT Invesco S&P 500 Concentrated | New | 0.06% | +0.06 |
| EFA iShares MSCI Eafe ETF | Add +111.6% | 0.10% | +0.06 |
| ILTB iShares Core 10+ Year Usd Bo | Add +3.0% | 0.68% | +0.06 |
| OMFL Invesco Russell 1000 DYN M/F | New | 0.05% | +0.05 |
| GLDM SPDR Gold Minishares Trust | Add +94.1% | 0.09% | +0.05 |
| IEMG iShares Core MSCI Emerging | Add +51.8% | 0.13% | +0.05 |
| HEFA Isha Curr Hedged MSCI Eafe | New | 0.05% | +0.05 |
| VWO Vanguard Ftse Emerging Marke | Add +3.7% | 0.54% | +0.05 |
| SCHP Schwab U.S. Tips ETF | Add +9.4% | 0.32% | +0.05 |
| BALT Inn Defined Wealth Shield | Add +139.5% | 0.08% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +6.6% | 1.02% | +0.05 |
| IYG iShares U.S. Financial Servi | Add +75.0% | 0.10% | +0.04 |
| IWP iShares Russell Mid-Cap Grow | Add +306.6% | 0.06% | +0.04 |
| IWD iShares Russell 1000 Value E | Add +83.5% | 0.09% | +0.04 |
| GLTR Abrdn Precious Metals Basket | Add +57.5% | 0.09% | +0.04 |
| KRE SS SPDR S&P Regional Bank | Add +127.7% | 0.08% | +0.04 |
| GTO Invesco Total Return Bond Et | Add +1.8% | 0.72% | +0.04 |
| BSMR Invesco Bulletshares 2027 MB | Add +401.7% | 0.05% | +0.04 |
| XLE SS Energy Select Sector | Add +4.0% | 0.27% | +0.04 |
| IWB iShares Russell 1000 ETF | New | 0.04% | +0.04 |
| XLF SS Financial Select Sector | Add +13.2% | 0.22% | +0.04 |
| NMS Nuveen MN QLTY Muni Inc. | Add +148.7% | 0.06% | +0.04 |
| IAU iShares Gold Trust | Add +31.8% | 0.09% | +0.04 |
| ABT Abbott Laboratories | Add +0.3% | 0.20% | +0.03 |
| FDL First Trust Morn DVD Lead Inc. | New | 0.03% | +0.03 |
| IVW iShares S&P 500 Growth ETF | Add +11.6% | 0.72% | +0.03 |
| RDVY First Trust Rising Dividend | Add +13.1% | 0.25% | +0.03 |
| IQLT iShares MSCI International Q | Add +1.9% | 0.31% | +0.03 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +4.5% | 0.37% | +0.03 |
| FTC First Trust Large Cap Growth | New | 0.03% | +0.03 |
| SCHZ Schwab US Aggregate Bond ETF | Add +3.8% | 0.37% | +0.03 |
| SCHF Schwab Intl Equity ETF | Add +0.4% | 0.32% | +0.03 |
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 |