Focus Financial Network, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Focus Financial Network, Inc. reported 725 stock positions worth $2.9 billion. Its top holding was Nvidia (NVDA) at 10.6% of the portfolio, followed by Schwab US Large-Cap Growth (SCHG, 5.4%) and Invesco QQQ Trust Series 1 (QQQ, 3.5%). Compared with Q3 2025, it opened 33 new positions, sold out of 46, added to 340 and reduced 312. The biggest buy was Vanguard Mrngstr Val ETF-Aui (VTV, shares +267%) and the biggest sale Schwab US DVD Equity ETF (SCHD, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0002010942
- Portfolio Value
- $2.9B (Q4 2025)
- SEC Filing
- 0001754960-26-000023 ↗ filed Jan 12, 2026
Holdings Value
Holdings 725 stocks · $2.9B
| NVDA Nvidia Corp. | 10.57% | 1,628,632 | $303.7M | Reduce -0.4% |
| SCHG Schwab US Large-Cap Growth | 5.41% | 4,761,784 | $155.3M | Add +0.4% |
| QQQ Invesco QQQ Trust Series 1 | 3.55% | 165,976 | $102.0M | Reduce -1.0% |
| AAPL Apple Inc. | 3.24% | 342,847 | $93.2M | Reduce -3.0% |
| IVV iShares Core S&P 500 ETF | 2.54% | 106,343 | $72.8M | Add +0.5% |
| AMZN Amazon.com Inc. | 2.49% | 309,467 | $71.4M | Add +2.0% |
| SCHD Schwab US DVD Equity ETF | 2.09% | 2,183,630 | $59.9M | Reduce -31.7% |
| AGG iShares Core U.S. Aggregate | 2.04% | 586,042 | $58.5M | Add +7.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.54% | 231,133 | $44.1M | Add +267.4% |
| QLD Proshares Ultra QQQ | 1.47% | 599,334 | $42.2M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.28% | 53,867 | $36.7M | Add +0.4% |
| IEF iShares 7-10 Year Treasury B | 1.24% | 370,441 | $35.6M | Add +7.4% |
| VXUS Vanguard Total Intl Stock | 1.24% | 470,925 | $35.5M | Add +3.3% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.22% | 746,798 | $35.0M | Add +3.5% |
| GOOGL Alphabet Inc. Class A | 1.18% | 107,987 | $33.8M | Add +48.6% |
| XMHQ Invesco S&P Midcap Qual ETF | 1.18% | 329,674 | $33.8M | Add +3.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.17% | 66,699 | $33.5M | Add +2.6% |
| VYM Vanguard High DVD Yield ETF | 1.16% | 232,245 | $33.3M | Add +7.7% |
| MSFT Microsoft Corp. | 1.12% | 66,664 | $32.2M | Reduce -1.3% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.03% | 657,138 | $29.7M | Add +6.8% |
| VEA Vanguard Ftse Developed ETF | 0.88% | 404,680 | $25.3M | Add +7.0% |
| VIG Vanguard Dividend Apprec ETF | 0.81% | 105,749 | $23.2M | Add +6.9% |
| QUAL iShares MSCI USA Quality Fac | 0.76% | 109,923 | $21.8M | Add +0.0% |
| IWR iShares Russell Mid-Cap ETF | 0.76% | 225,369 | $21.7M | Reduce -3.7% |
| SCHV Schwab US Large-Cap Value | 0.74% | 714,681 | $21.2M | Reduce -3.5% |
| XLK SS Technology Select Sector | 0.72% | 144,067 | $20.7M | Reduce -4.7% |
| IVW iShares S&P 500 Growth ETF | 0.71% | 164,633 | $20.3M | Add +0.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.69% | 248,554 | $19.9M | Add +9.6% |
| QQQM Invesco Nasdaq 100 ETF | 0.67% | 76,249 | $19.3M | Add +4.6% |
| SPHQ Invesco S&P 500 Quality ETF | 0.63% | 239,483 | $18.0M | Add +2.2% |
| SCHB Schwab US Broad Market ETF | 0.60% | 661,759 | $17.4M | Add +1.8% |
| SCHX Schwab US Large-Cap ETF | 0.60% | 642,584 | $17.3M | Reduce -3.9% |
| VWO Vanguard Ftse Emerging Marke | 0.60% | 318,541 | $17.1M | Add +2.1% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.58% | 230,534 | $16.8M | Add +6.9% |
| XMMO Invesco S&P Midcap Momentum | 0.58% | 119,563 | $16.6M | Reduce -1.2% |
| DGRW Wisdomtree U.S. Quality Divi | 0.55% | 175,790 | $15.7M | Add +0.5% |
| SDVY First Trust Smid Cap Rising | 0.53% | 395,841 | $15.2M | Add +4.9% |
| XSMO Invesco S&P Smallcap Momentu | 0.53% | 210,258 | $15.1M | Add +0.6% |
| SGOL Abrdn Physical Gold Shares | 0.51% | 358,144 | $14.7M | Add +1.0% |
| GTO Invesco Total Return Bond Et | 0.51% | 309,590 | $14.7M | Reduce -1.5% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.48% | 45,798 | $13.8M | Add +3.2% |
| GLD SPDR Gold Shares | 0.46% | 33,524 | $13.3M | Add +11.0% |
| IVE iShares S&P 500 Value ETF | 0.45% | 61,359 | $13.0M | Add +0.8% |
| BSV Vanguard Short-Term Bond ETF | 0.45% | 164,481 | $13.0M | Add +4.7% |
| SCHM Schwab US Mid Cap ETF | 0.45% | 426,954 | $12.8M | Reduce -1.9% |
| EFV iShares MSCI Eafe Value ETF | 0.44% | 176,389 | $12.6M | Add +0.4% |
| UNH Unitedhealth Group Inc. | 0.43% | 37,752 | $12.5M | Reduce -3.0% |
| SCHA Schwab US Small-Cap ETF | 0.42% | 427,775 | $12.2M | Reduce -1.2% |
| ILTB iShares Core 10+ Year Usd Bo | 0.42% | 242,795 | $12.1M | Add +2.3% |
| IMTM iShares MSCI Intl Momentum F | 0.42% | 249,215 | $12.0M | Add +2.6% |
| SCHF Schwab Intl Equity ETF | 0.40% | 477,959 | $11.5M | Add +4.8% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.39% | 185,204 | $11.3M | Add +1.4% |
| VHT Vanguard Health Care ETF | 0.38% | 37,716 | $10.9M | Add +5.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.37% | 32,059 | $10.7M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 0.37% | 32,900 | $10.6M | Add +2.0% |
| COST Costco Wholesale Corp. | 0.33% | 10,834 | $9.3M | Reduce -4.3% |
| MMM 3M Co. | 0.33% | 58,308 | $9.3M | Reduce -3.3% |
| SCHZ Schwab US Aggregate Bond ETF | 0.32% | 398,837 | $9.3M | Add +1.3% |
| IQLT iShares MSCI International Q | 0.32% | 200,803 | $9.1M | Add +0.1% |
| RDVY First Trust Rising Dividend | 0.31% | 129,240 | $9.0M | Add +4.6% |
| SCHP Schwab U.S. Tips ETF | 0.30% | 324,537 | $8.6M | Reduce -1.2% |
| IYW iShares Ustechnology ETF | 0.30% | 42,883 | $8.6M | Reduce -1.2% |
| AVGO Broadcom Inc. | 0.29% | 23,777 | $8.2M | Reduce -2.1% |
| NOW ServiceNow Inc. | 0.29% | 53,650 | $8.2M | Reduce -22.8% |
| SHY iShares 1-3 Year Treasury Bo | 0.28% | 96,680 | $8.0M | Reduce -0.4% |
| LLY Eli Lilly & Co. | 0.27% | 7,256 | $7.8M | Reduce -0.5% |
| SCHO Schwab Short-Term US Treas | 0.27% | 318,850 | $7.8M | Add +42.9% |
| IEMG iShares Core MSCI Emerging | 0.27% | 115,440 | $7.8M | Add +3.4% |
| IONQ Ionq Inc. | 0.27% | 171,755 | $7.7M | New |
| TSLA Tesla Inc. | 0.27% | 17,115 | $7.7M | Reduce -0.8% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.26% | 163,164 | $7.6M | Add +0.8% |
| NVT Nvent Electric PLC | 0.26% | 74,227 | $7.6M | Reduce -0.7% |
| PNR Pentair PLC | 0.26% | 72,639 | $7.6M | Add +0.0% |
| VOO Vanguard S&P 500 ETF | 0.26% | 12,048 | $7.6M | Add +1.2% |
| JQUA JPMorgan US Quality Factor | 0.24% | 109,866 | $6.9M | Add +8.7% |
| XEL Xcel Energy Inc. | 0.24% | 92,903 | $6.9M | Reduce -3.0% |
| MUB iShares National Muni Bond E | 0.24% | 63,326 | $6.8M | Add +0.3% |
| DAL Delta Air Lines Inc. | 0.23% | 95,458 | $6.6M | Add +27.2% |
| META Meta Platforms Inc. Class A | 0.23% | 9,996 | $6.6M | Add +3.2% |
| JNJ Johnson & Johnson | 0.22% | 30,892 | $6.4M | Add +1.1% |
| PLTR Palantir Technologies Inc. Class A | 0.22% | 35,446 | $6.3M | Add +13.4% |
| EFG iShares MSCI Eafe Growth ETF | 0.21% | 54,067 | $6.2M | Reduce -2.7% |
| RSP Invesco S&P 500 Equal Weight | 0.21% | 31,813 | $6.1M | Add +0.6% |
| CAT Caterpillar Inc. | 0.21% | 10,524 | $6.0M | Add +0.1% |
| VGT Vanguard Info Tech ETF | 0.21% | 7,862 | $5.9M | Reduce -3.7% |
| PFM Invesco Dividend Achievers E | 0.20% | 113,475 | $5.8M | Add +0.2% |
| GS Goldman Sachs Group Inc. | 0.20% | 6,635 | $5.8M | Add +182.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.20% | 11,914 | $5.8M | Add +4.0% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.19% | 119,814 | $5.6M | Add +1.7% |
| XLG Invesco S&P 500 Top 50 ETF | 0.19% | 90,812 | $5.4M | Add +6.5% |
| JPIE JPMorgan Income ETF | 0.19% | 114,736 | $5.3M | Add +13.8% |
| XLF SS Financial Select Sector | 0.19% | 97,409 | $5.3M | Reduce -0.1% |
| BND Vanguard Total Bond Market | 0.18% | 69,715 | $5.2M | Add +9.1% |
| VLUE iShares MSCI USA Value Facto | 0.18% | 37,204 | $5.1M | Reduce -0.2% |
| PID Invesco International Divide | 0.17% | 228,549 | $5.0M | Reduce -0.6% |
| ABT Abbott Laboratories | 0.17% | 39,872 | $5.0M | Add +0.9% |
| LVHI Franklin International Low V | 0.17% | 132,468 | $4.9M | Add +1.3% |
| TCAF T Rowe PRC Cap Appreciation | 0.17% | 125,131 | $4.8M | Add +2.8% |
| AOM iShares Core 40/60 Moderate | 0.16% | 99,010 | $4.7M | Add +2.5% |
| USMV iShares MSCI USA Min Vol Fac | 0.16% | 49,712 | $4.7M | Reduce -5.5% |
Portfolio Sells Q3 2025 → Q4 2025
| SCHD Schwab US DVD Equity ETF | Reduce -31.7% | 2.09% | −1.03 |
| QUBT Quantum Computing Inc. | Reduce -65.3% | 0.14% | −0.60 |
| SMCI Super Micro Computer Inc. | Reduce -59.7% | 0.11% | −0.34 |
| NVDA Nvidia Corp. | Reduce -0.4% | 10.57% | −0.31 |
| NOW ServiceNow Inc. | Reduce -22.8% | 0.29% | −0.17 |
| MSFT Microsoft Corp. | Reduce -1.3% | 1.12% | −0.12 |
| RDDT Reddit Inc. Class A | Reduce -43.0% | 0.10% | −0.08 |
| IWP iShares Russell Mid-Cap Grow | Reduce -81.1% | 0.02% | −0.08 |
| IWR iShares Russell Mid-Cap ETF | Reduce -3.7% | 0.76% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -4.3% | 0.33% | −0.05 |
| UNH Unitedhealth Group Inc. | Reduce -3.0% | 0.43% | −0.05 |
| XAR SS SPDR S&P Aerospace Def | Reduce -66.6% | 0.02% | −0.05 |
| JPST JPMorgan Ultra-Short Income | Reduce -25.1% | 0.12% | −0.05 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.0% | 3.55% | −0.04 |
| XLC SS Comm Select Sector SPDR | Reduce -49.7% | 0.04% | −0.04 |
| FISV Fiserv Inc. | Reduce -12.5% | 0.03% | −0.04 |
| XLK SS Technology Select Sector | Reduce -4.7% | 0.72% | −0.04 |
| GLTR Abrdn Precious Metals Basket | Sold out | 0.00% | −0.04 |
| XEL Xcel Energy Inc. | Reduce -3.0% | 0.24% | −0.04 |
| SLV iShares Silver Trust | Reduce -53.5% | 0.08% | −0.04 |
| XLY SS Consumer Disc Select Sect | Reduce -21.5% | 0.12% | −0.04 |
| ORCL Oracle Corp. | Reduce -1.9% | 0.07% | −0.04 |
| ILCG iShares Morningstar Growth E | Reduce -24.0% | 0.10% | −0.03 |
| AOR iShares Core 60/40 Balanced | Reduce -44.9% | 0.04% | −0.03 |
| SCHV Schwab US Large-Cap Value | Reduce -3.5% | 0.74% | −0.03 |
| IAI iShares U.S. Broker-Dealers | Sold out | 0.00% | −0.03 |
| FTC First Trust Large Cap Growth | Sold out | 0.00% | −0.03 |
| XHB SS SPDR S&P Homebldrs ETF | Sold out | 0.00% | −0.03 |
| SCHX Schwab US Large-Cap ETF | Reduce -3.9% | 0.60% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -13.1% | 0.09% | −0.02 |
| XLP SS Consumer Staples Sel Sect | Reduce -13.3% | 0.12% | −0.02 |
| GTO Invesco Total Return Bond Et | Reduce -1.5% | 0.51% | −0.02 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -10.3% | 0.14% | −0.02 |
| IWC iShares Micro-Cap ETF | Reduce -52.1% | 0.02% | −0.02 |
| CARR Carrier Global Corp. | Reduce -65.9% | 0.01% | −0.02 |
| ROBT First Trust Nasdaq Artificia | Sold out | 0.00% | −0.02 |
| SCHP Schwab U.S. Tips ETF | Reduce -1.2% | 0.30% | −0.02 |
| BSJP Invesco Bulletshares 2025 HY | Sold out | 0.00% | −0.02 |
| BA The Boeing Co. | Reduce -13.6% | 0.09% | −0.02 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -5.5% | 0.16% | −0.02 |
| ARKW ARK Next Generation Technolo | Sold out | 0.00% | −0.01 |
| CLFD Clearfield Inc. | Sold out | 0.00% | −0.01 |
| AUGW Alianzim US Eq BFR20 Aug-Usd | Reduce -31.1% | 0.03% | −0.01 |
| BABA Alibaba Group Holding-SP ADR | Reduce -5.5% | 0.04% | −0.01 |
| WM Waste Management Inc. | Reduce -19.8% | 0.05% | −0.01 |
| SCHM Schwab US Mid Cap ETF | Reduce -1.9% | 0.45% | −0.01 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -19.2% | 0.06% | −0.01 |
| TGT Target Corp. | Reduce -18.9% | 0.08% | −0.01 |
| GLBE Global-E Online Ltd. | Sold out | 0.00% | −0.01 |
| HON Honeywell International Inc. | Reduce -0.1% | 0.11% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| VTV Vanguard Mrngstr Val ETF-Aui | Add +267.4% | 1.54% | +1.12 |
| GOOGL Alphabet Inc. Class A | Add +48.6% | 1.18% | +0.55 |
| IONQ Ionq Inc. | New | 0.27% | +0.27 |
| GS Goldman Sachs Group Inc. | Add +182.7% | 0.20% | +0.14 |
| AMZN Amazon.com Inc. | Add +2.0% | 2.49% | +0.11 |
| AGG iShares Core U.S. Aggregate | Add +7.7% | 2.04% | +0.09 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +6.8% | 1.03% | +0.09 |
| FESM Fidelity Enhanced Small Cap | New | 0.08% | +0.08 |
| GLD SPDR Gold Shares | Add +11.0% | 0.46% | +0.08 |
| DAL Delta Air Lines Inc. | Add +27.2% | 0.23% | +0.08 |
| VYM Vanguard High DVD Yield ETF | Add +7.7% | 1.16% | +0.08 |
| SCHO Schwab Short-Term US Treas | Add +42.9% | 0.27% | +0.08 |
| VEA Vanguard Ftse Developed ETF | Add +7.0% | 0.88% | +0.07 |
| VRT Vertiv Holdings Co. Class A | Add +227.5% | 0.10% | +0.07 |
| JBND JPMorgan Active Bond ETF | Add +94.3% | 0.14% | +0.07 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +6.9% | 0.58% | +0.06 |
| FAST Fastenal Co. | Add +266.0% | 0.10% | +0.06 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +9.6% | 0.69% | +0.06 |
| JIVE JPM Interntl Value ETF | Add +180.2% | 0.09% | +0.06 |
| IEF iShares 7-10 Year Treasury B | Add +7.4% | 1.24% | +0.05 |
| VHT Vanguard Health Care ETF | Add +5.6% | 0.38% | +0.05 |
| SGOL Abrdn Physical Gold Shares | Add +1.0% | 0.51% | +0.05 |
| VIG Vanguard Dividend Apprec ETF | Add +6.9% | 0.81% | +0.05 |
| NEAR iShares SH Dba ETF Usd Inc. | Add +115.4% | 0.08% | +0.04 |
| VXUS Vanguard Total Intl Stock | Add +3.3% | 1.24% | +0.04 |
| FEGE First Eagle GL Equity ETF | New | 0.04% | +0.04 |
| SGOV iShares 0-3 Month Treasury B | Add +502.1% | 0.05% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +3.3% | 0.16% | +0.04 |
| CAT Caterpillar Inc. | Add +0.1% | 0.21% | +0.03 |
| BIV Vanguard Intermediate-Term B | Add +173.4% | 0.05% | +0.03 |
| QQQM Invesco Nasdaq 100 ETF | Add +4.6% | 0.67% | +0.03 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +19.5% | 0.16% | +0.03 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +3.5% | 1.22% | +0.03 |
| EVTR Eaton Vance Total Return | New | 0.03% | +0.03 |
| VCSH Vanguard S/T Corp. Bond ETF | New | 0.03% | +0.03 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +23.4% | 0.15% | +0.02 |
| IOO iShares Global 100 ETF | Add +16.5% | 0.15% | +0.02 |
| CSCO Cisco Systems Inc. | Add +18.5% | 0.10% | +0.02 |
| FDVV Fidelity High Dividend ETF | New | 0.02% | +0.02 |
| SCHF Schwab Intl Equity ETF | Add +4.8% | 0.40% | +0.02 |
| JNJ Johnson & Johnson | Add +1.1% | 0.22% | +0.02 |
| JPIE JPMorgan Income ETF | Add +13.8% | 0.19% | +0.02 |
| IAU iShares Gold Trust | Add +11.9% | 0.10% | +0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +17.3% | 0.15% | +0.02 |
| SDVY First Trust Smid Cap Rising | Add +4.9% | 0.53% | +0.02 |
| APP AppLovin Corp. Class A | New | 0.02% | +0.02 |
| RDVY First Trust Rising Dividend | Add +4.6% | 0.31% | +0.02 |
| PLTR Palantir Technologies Inc. Class A | Add +13.4% | 0.22% | +0.02 |
| SHYL Xtrackers SHRT Dur High Yiel | Add +96.5% | 0.03% | +0.02 |
| JQUA JPMorgan US Quality Factor | Add +8.7% | 0.24% | +0.01 |
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 |