Focus Financial Network, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 10, 2025), Focus Financial Network, Inc. reported 738 stock positions worth $2.8 billion. Its top holding was Nvidia (NVDA) at 10.9% of the portfolio, followed by Schwab US Large-Cap Growth (SCHG, 5.4%) and Invesco QQQ Trust Series 1 (QQQ, 3.6%). Compared with Q2 2025, it opened 66 new positions, sold out of 32, added to 341 and reduced 269. The biggest buy was Quantum Computing (QUBT, shares +340%) and the biggest sale ServiceNow (NOW, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0002010942
- Portfolio Value
- $2.8B (Q3 2025)
- SEC Filing
- 0001754960-25-000655 ↗ filed Oct 10, 2025
Holdings Value
Holdings 738 stocks · $2.8B
| NVDA Nvidia Corp. | 10.88% | 1,635,482 | $305.2M | Reduce -1.5% |
| SCHG Schwab US Large-Cap Growth | 5.40% | 4,743,014 | $151.3M | Reduce -1.5% |
| QQQ Invesco QQQ Trust Series 1 | 3.59% | 167,692 | $100.7M | Add +0.9% |
| AAPL Apple Inc. | 3.21% | 353,651 | $90.1M | Reduce -1.9% |
| SCHD Schwab US DVD Equity ETF | 3.11% | 3,198,048 | $87.3M | Reduce -1.0% |
| IVV iShares Core S&P 500 ETF | 2.52% | 105,784 | $70.8M | Reduce -1.7% |
| AMZN Amazon.com Inc. | 2.38% | 303,387 | $66.6M | Reduce -2.2% |
| AGG iShares Core U.S. Aggregate | 1.95% | 544,398 | $54.6M | Add +9.6% |
| QLD Proshares Ultra QQQ | 1.47% | 299,573 | $41.1M | Add +0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.27% | 53,632 | $35.7M | Add +9.6% |
| MSFT Microsoft Corp. | 1.25% | 67,510 | $35.0M | Add +0.1% |
| XMHQ Invesco S&P Midcap Qual ETF | 1.19% | 319,064 | $33.5M | Add +2.4% |
| VXUS Vanguard Total Intl Stock | 1.19% | 455,800 | $33.5M | Add +1.1% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.19% | 721,286 | $33.4M | Add +0.7% |
| IEF iShares 7-10 Year Treasury B | 1.19% | 344,850 | $33.3M | Add +2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.16% | 64,975 | $32.7M | Add +5.3% |
| VYM Vanguard High DVD Yield ETF | 1.08% | 215,615 | $30.4M | Add +1.9% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.94% | 615,345 | $26.4M | Reduce -2.4% |
| VEA Vanguard Ftse Developed ETF | 0.81% | 378,199 | $22.7M | Add +10.3% |
| IWR iShares Russell Mid-Cap ETF | 0.81% | 234,000 | $22.6M | Reduce -1.9% |
| SCHV Schwab US Large-Cap Value | 0.77% | 740,484 | $21.6M | Reduce -10.6% |
| VIG Vanguard Dividend Apprec ETF | 0.76% | 98,896 | $21.4M | Add +2.1% |
| QUAL iShares MSCI USA Quality Fac | 0.76% | 109,906 | $21.4M | Add +0.8% |
| XLK SS Technology Select Sector | 0.76% | 75,602 | $21.3M | Add +2.4% |
| QUBT Quantum Computing Inc. | 0.73% | 1,117,431 | $20.6M | Add +339.9% |
| IVW iShares S&P 500 Growth ETF | 0.71% | 164,364 | $19.8M | Add +1.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.64% | 72,909 | $18.0M | Reduce -4.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.63% | 226,696 | $17.8M | Reduce -2.3% |
| GOOGL Alphabet Inc. Class A | 0.63% | 72,644 | $17.7M | Reduce -1.7% |
| SCHX Schwab US Large-Cap ETF | 0.63% | 668,657 | $17.6M | Add +2.2% |
| SPHQ Invesco S&P 500 Quality ETF | 0.61% | 234,255 | $17.2M | Reduce 0.0% |
| VWO Vanguard Ftse Emerging Marke | 0.60% | 311,920 | $16.9M | Add +0.4% |
| SCHB Schwab US Broad Market ETF | 0.60% | 650,185 | $16.7M | Reduce -5.6% |
| XMMO Invesco S&P Midcap Momentum | 0.58% | 121,023 | $16.4M | Add +1.0% |
| DGRW Wisdomtree U.S. Quality Divi | 0.55% | 174,915 | $15.6M | Add +0.4% |
| XSMO Invesco S&P Smallcap Momentu | 0.55% | 209,106 | $15.4M | Add +2.1% |
| GTO Invesco Total Return Bond Et | 0.53% | 314,192 | $14.9M | Add +4.8% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.52% | 215,723 | $14.6M | Add +1039.2% |
| SDVY First Trust Smid Cap Rising | 0.51% | 377,204 | $14.3M | Reduce -5.6% |
| UNH Unitedhealth Group Inc. | 0.48% | 38,915 | $13.4M | Reduce -0.1% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.47% | 44,359 | $13.2M | Add +48.9% |
| SGOL Abrdn Physical Gold Shares | 0.47% | 354,601 | $13.1M | Add +11.9% |
| SCHM Schwab US Mid Cap ETF | 0.46% | 435,431 | $12.9M | Reduce -2.3% |
| NOW ServiceNow Inc. | 0.46% | 13,894 | $12.8M | Reduce -28.0% |
| SMCI Super Micro Computer Inc. | 0.45% | 264,688 | $12.7M | Add +4042.2% |
| IVE iShares S&P 500 Value ETF | 0.45% | 60,871 | $12.6M | Add +2.5% |
| BSV Vanguard Short-Term Bond ETF | 0.44% | 157,098 | $12.4M | Add +2.4% |
| SCHA Schwab US Small-Cap ETF | 0.43% | 432,896 | $12.1M | Add +0.3% |
| ILTB iShares Core 10+ Year Usd Bo | 0.43% | 237,371 | $12.0M | Add +2.1% |
| EFV iShares MSCI Eafe Value ETF | 0.42% | 175,658 | $11.9M | Add +1.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.42% | 62,915 | $11.8M | Add +24.2% |
| IMTM iShares MSCI Intl Momentum F | 0.41% | 242,912 | $11.6M | Add +94.3% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.39% | 182,600 | $10.8M | Add +2.4% |
| GLD SPDR Gold Shares | 0.38% | 30,213 | $10.7M | Add +6.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.38% | 32,456 | $10.7M | Add +2.2% |
| SCHF Schwab Intl Equity ETF | 0.38% | 456,304 | $10.6M | Add +8.0% |
| COST Costco Wholesale Corp. | 0.37% | 11,320 | $10.5M | Add +3.3% |
| JPM JPMorgan Chase & Co. | 0.36% | 32,241 | $10.2M | Add +2.4% |
| MMM 3M Co. | 0.33% | 60,267 | $9.4M | Reduce -0.2% |
| VHT Vanguard Health Care ETF | 0.33% | 35,709 | $9.3M | Add +37.0% |
| SCHZ Schwab US Aggregate Bond ETF | 0.33% | 393,704 | $9.2M | Add +3.5% |
| IQLT iShares MSCI International Q | 0.32% | 200,511 | $8.9M | Add +3.6% |
| SCHP Schwab U.S. Tips ETF | 0.32% | 328,491 | $8.9M | Add +9.1% |
| IYW iShares Ustechnology ETF | 0.30% | 43,389 | $8.5M | Add +0.3% |
| RDVY First Trust Rising Dividend | 0.30% | 123,571 | $8.3M | Add +7.6% |
| SHY iShares 1-3 Year Treasury Bo | 0.29% | 97,110 | $8.1M | Add +2.4% |
| PNR Pentair PLC | 0.29% | 72,638 | $8.0M | Add +24.6% |
| AVGO Broadcom Inc. | 0.29% | 24,279 | $8.0M | Reduce -8.6% |
| XEL Xcel Energy Inc. | 0.28% | 95,813 | $7.7M | Add +0.6% |
| TSLA Tesla Inc. | 0.27% | 17,258 | $7.7M | Reduce -3.2% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.27% | 161,954 | $7.6M | Add +0.4% |
| NVT Nvent Electric PLC | 0.26% | 74,721 | $7.4M | Add +23.4% |
| IEMG iShares Core MSCI Emerging | 0.26% | 111,617 | $7.4M | Add +3.2% |
| VOO Vanguard S&P 500 ETF | 0.26% | 11,906 | $7.3M | Reduce -17.8% |
| META Meta Platforms Inc. Class A | 0.25% | 9,686 | $7.1M | Reduce -1.0% |
| MUB iShares National Muni Bond E | 0.24% | 63,113 | $6.7M | Add +1.1% |
| JQUA JPMorgan US Quality Factor | 0.23% | 101,075 | $6.4M | Add +2.6% |
| EFG iShares MSCI Eafe Growth ETF | 0.23% | 55,593 | $6.3M | Reduce -2.4% |
| VGT Vanguard Info Tech ETF | 0.22% | 8,163 | $6.1M | Reduce -0.8% |
| RSP Invesco S&P 500 Equal Weight | 0.21% | 31,630 | $6.0M | Add +1.2% |
| PFM Invesco Dividend Achievers E | 0.20% | 113,216 | $5.7M | Reduce -0.1% |
| PLTR Palantir Technologies Inc. Class A | 0.20% | 31,252 | $5.7M | Add +154.4% |
| JNJ Johnson & Johnson | 0.20% | 30,572 | $5.7M | Add +0.8% |
| LLY Eli Lilly & Co. | 0.20% | 7,289 | $5.6M | Reduce -2.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.20% | 11,460 | $5.5M | Add +0.8% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.20% | 117,860 | $5.5M | Add +5.5% |
| SCHO Schwab Short-Term US Treas | 0.19% | 223,149 | $5.4M | Reduce -6.1% |
| ABT Abbott Laboratories | 0.19% | 39,531 | $5.3M | Add +8.6% |
| RDDT Reddit Inc. Class A | 0.19% | 22,965 | $5.3M | Reduce -47.4% |
| XLF SS Financial Select Sector | 0.19% | 97,499 | $5.3M | Reduce -12.3% |
| CAT Caterpillar Inc. | 0.18% | 10,508 | $5.0M | Add +1.5% |
| USMV iShares MSCI USA Min Vol Fac | 0.18% | 52,598 | $5.0M | Add +13.8% |
| XLG Invesco S&P 500 Top 50 ETF | 0.17% | 85,308 | $4.9M | Add +6.2% |
| PID Invesco International Divide | 0.17% | 229,984 | $4.9M | Add +1.1% |
| BND Vanguard Total Bond Market | 0.17% | 63,909 | $4.8M | Add +11.4% |
| JPST JPMorgan Ultra-Short Income | 0.17% | 92,922 | $4.7M | Add +75.5% |
| JPIE JPMorgan Income ETF | 0.17% | 100,846 | $4.7M | Add +7.5% |
| VLUE iShares MSCI USA Value Facto | 0.17% | 37,269 | $4.7M | Reduce -2.6% |
| AIRR First Trust Rba American Ind | 0.16% | 47,670 | $4.6M | Reduce -8.6% |
| VGLT Vanguard Long-Term Treasury | 0.16% | 80,879 | $4.6M | Add +6.9% |
Portfolio Sells Q2 2025 → Q3 2025
| NOW ServiceNow Inc. | Reduce -28.0% | 0.46% | −0.33 |
| AMZN Amazon.com Inc. | Reduce -2.2% | 2.38% | −0.31 |
| SCHD Schwab US DVD Equity ETF | Reduce -1.0% | 3.11% | −0.27 |
| SCHG Schwab US Large-Cap Growth | Reduce -1.5% | 5.40% | −0.16 |
| SCHV Schwab US Large-Cap Value | Reduce -10.6% | 0.77% | −0.14 |
| OMFL Invesco Russell 1000 DYN M/F | Sold out | 0.00% | −0.13 |
| IVV iShares Core S&P 500 ETF | Reduce -1.7% | 2.52% | −0.11 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -63.4% | 0.05% | −0.10 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -47.6% | 0.07% | −0.07 |
| RDDT Reddit Inc. Class A | Reduce -47.4% | 0.19% | −0.07 |
| VOO Vanguard S&P 500 ETF | Reduce -17.8% | 0.26% | −0.06 |
| SPGP Invesco S&P 500 Garp ETF | Sold out | 0.00% | −0.06 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -41.0% | 0.08% | −0.06 |
| IWR iShares Russell Mid-Cap ETF | Reduce -1.9% | 0.81% | −0.06 |
| XLE SS Energy Select Sector | Reduce -23.0% | 0.16% | −0.06 |
| BSMP Invesco Bulletshares 2025 MB | Sold out | 0.00% | −0.06 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -2.4% | 0.94% | −0.05 |
| SCHB Schwab US Broad Market ETF | Reduce -5.6% | 0.60% | −0.05 |
| FISV Fiserv Inc. | Reduce -14.1% | 0.07% | −0.05 |
| IWP iShares Russell Mid-Cap Grow | Reduce -27.1% | 0.10% | −0.05 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce 0.0% | 0.61% | −0.05 |
| TGT Target Corp. | Reduce -19.3% | 0.09% | −0.05 |
| SDVY First Trust Smid Cap Rising | Reduce -5.6% | 0.51% | −0.04 |
| IYG iShares U.S. Financial Servi | Reduce -34.0% | 0.07% | −0.04 |
| XLF SS Financial Select Sector | Reduce -12.3% | 0.19% | −0.04 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -4.5% | 0.64% | −0.04 |
| QVMT Invesco S&P 500 Concentrated | Sold out | 0.00% | −0.04 |
| NFLX Netflix Inc. | Reduce -8.9% | 0.11% | −0.04 |
| BSMQ Invesco Bulletshares 2026 MB | Sold out | 0.00% | −0.04 |
| ILCG iShares Morningstar Growth E | Reduce -19.5% | 0.13% | −0.04 |
| XLY SS Consumer Disc Select Sect | Reduce -18.3% | 0.15% | −0.03 |
| SCHO Schwab Short-Term US Treas | Reduce -6.1% | 0.19% | −0.03 |
| SCHM Schwab US Mid Cap ETF | Reduce -2.3% | 0.46% | −0.03 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -2.3% | 0.63% | −0.03 |
| XLP SS Consumer Staples Sel Sect | Reduce -7.2% | 0.14% | −0.03 |
| VPU Vanguard Utilities ETF | Reduce -66.6% | 0.02% | −0.03 |
| META Meta Platforms Inc. Class A | Reduce -1.0% | 0.25% | −0.03 |
| LLY Eli Lilly & Co. | Reduce -2.3% | 0.20% | −0.03 |
| MMM 3M Co. | Reduce -0.2% | 0.33% | −0.03 |
| SCYB Schwab High Yield Bond ETF | Sold out | 0.00% | −0.03 |
| DBEF Xtrackers MSCI Eafe Hedged E | Reduce -52.4% | 0.02% | −0.03 |
| SPAB SS SPDR P Agg Bond ETF | Sold out | 0.00% | −0.03 |
| BSMR Invesco Bulletshares 2027 MB | Sold out | 0.00% | −0.03 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -2.4% | 0.23% | −0.03 |
| FFEB FT Vest US Equity Buffer ETF | Reduce -43.8% | 0.03% | −0.03 |
| ACN Accenture PLC Class A | Reduce -24.2% | 0.03% | −0.03 |
| QTEC First Trust Nasdq 100 Tech I | Reduce -15.4% | 0.12% | −0.02 |
| USFR Wisdomtree Floating Rate Tre | Reduce -3.5% | 0.16% | −0.02 |
| COIN Coinbase Global Inc. Class A | Reduce -47.9% | 0.02% | −0.02 |
| INTU Intuit Inc. | Reduce -8.6% | 0.05% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| QUBT Quantum Computing Inc. | Add +339.9% | 0.73% | +0.54 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +1039.2% | 0.52% | +0.47 |
| SMCI Super Micro Computer Inc. | Add +4042.2% | 0.45% | +0.44 |
| IMTM iShares MSCI Intl Momentum F | Add +94.3% | 0.41% | +0.19 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Add +48.9% | 0.47% | +0.15 |
| PLTR Palantir Technologies Inc. Class A | Add +154.4% | 0.20% | +0.14 |
| IOO iShares Global 100 ETF | Add +971.6% | 0.12% | +0.11 |
| NVT Nvent Electric PLC | Add +23.4% | 0.26% | +0.09 |
| LTPZ PIMCO 15+ YR US Tips Indx | New | 0.09% | +0.09 |
| DUHP Dimensional US High Profi Et | New | 0.08% | +0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +9.6% | 1.27% | +0.08 |
| VHT Vanguard Health Care ETF | Add +37.0% | 0.33% | +0.07 |
| SDCI Uscf Summerhaven Dynamic ETF | New | 0.07% | +0.07 |
| QLD Proshares Ultra QQQ | Add +0.1% | 1.47% | +0.07 |
| SGOL Abrdn Physical Gold Shares | Add +11.9% | 0.47% | +0.07 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +24.2% | 0.42% | +0.07 |
| JPST JPMorgan Ultra-Short Income | Add +75.5% | 0.17% | +0.06 |
| PNR Pentair PLC | Add +24.6% | 0.29% | +0.05 |
| XAR SS SPDR S&P Aerospace Def | Add +214.8% | 0.07% | +0.05 |
| GLD SPDR Gold Shares | Add +6.7% | 0.38% | +0.04 |
| IWC iShares Micro-Cap ETF | New | 0.04% | +0.04 |
| VEA Vanguard Ftse Developed ETF | Add +10.3% | 0.81% | +0.04 |
| JIVE JPM Interntl Value ETF | New | 0.03% | +0.03 |
| HYEM Vaneck Emrg MKTS Hi YLD | New | 0.03% | +0.03 |
| CGDV Cap Group Dividend Value | Add +43.6% | 0.10% | +0.03 |
| XHB SS SPDR S&P Homebldrs ETF | New | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +1.3% | 0.12% | +0.03 |
| XLC SS Comm Select Sector SPDR | Add +44.2% | 0.08% | +0.02 |
| BSX Boston Scientific Corp. | Add +62.0% | 0.09% | +0.02 |
| SLV iShares Silver Trust | Add +5.2% | 0.12% | +0.02 |
| XLK SS Technology Select Sector | Add +2.4% | 0.76% | +0.02 |
| NEAR iShares SH Dba ETF Usd Inc. | Add +127.0% | 0.04% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +27.5% | 0.07% | +0.02 |
| IAI iShares U.S. Broker-Dealers | Add +232.8% | 0.03% | +0.02 |
| ABBV Abbvie Inc. | Add +4.0% | 0.14% | +0.02 |
| CAT Caterpillar Inc. | Add +1.5% | 0.18% | +0.02 |
| JBND JPMorgan Active Bond ETF | Add +49.0% | 0.07% | +0.02 |
| QTAP Innovator GRW 100 Accl Plus | Add +182.2% | 0.03% | +0.02 |
| XEL Xcel Energy Inc. | Add +0.6% | 0.28% | +0.02 |
| JNJ Johnson & Johnson | Add +0.8% | 0.20% | +0.02 |
| AOR iShares Core 60/40 Balanced | Add +45.4% | 0.07% | +0.02 |
| CRWV Coreweave Inc. Class A | New | 0.02% | +0.02 |
| GLW Corning Inc. | Add +30.1% | 0.04% | +0.02 |
| HYLB Xtrackers Usd High Yield Cor | New | 0.02% | +0.02 |
| BIV Vanguard Intermediate-Term B | New | 0.02% | +0.02 |
| SHYL Xtrackers SHRT Dur High Yiel | New | 0.02% | +0.02 |
| ROBT First Trust Nasdaq Artificia | New | 0.02% | +0.02 |
| IWY iShares Russell Top 200 Grow | Add +20.8% | 0.10% | +0.02 |
| IAU iShares Gold Trust | Add +18.1% | 0.08% | +0.02 |
| EAGG iShares ESG Aware US Aggrega | Add +88.9% | 0.04% | +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 |