Forefront Analytics, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Forefront Analytics, LLC reported 43 stock positions worth $113.3 million. Its top holding was iShares Trust iShares ESG Aw (ESGD) at 17.7% of the portfolio, followed by iShares Inc. iShares ESG Awar (ESGE, 14.2%) and iShares MSCI USA Momentum Fa (MTUM, 11.2%). Compared with Q3 2025, it opened 4 new positions, sold out of 4, added to 28 and reduced 11. The biggest buy was iShares Inc. iShares ESG Awar (ESGE, shares +84%) and the biggest sale Nuveen ESG Large-Cap Val ETF (NULV, shares −43%).
- Most Recent 13F
- Q2 2026
- Location
- WEST CONSHOHOCKEN, PA
- CIK
- 0001696802
- Portfolio Value
- $113.3M (Q4 2025)
- SEC Filing
- 0001696802-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 43 stocks · $113.3M
| ESGD iShares Trust iShares ESG Aw | 17.73% | 211,190 | $20.1M | Add +14.0% |
| ESGE iShares Inc. iShares ESG Awar | 14.18% | 363,728 | $16.1M | Add +83.7% |
| MTUM iShares MSCI USA Momentum Fa | 11.19% | 50,646 | $12.7M | Add +35.1% |
| VWO Vanguard Ftse Emerging Marke | 8.60% | 181,105 | $9.7M | Add +32.5% |
| HDV iShares Core High Dividend E | 7.44% | 69,308 | $8.4M | Add +73.8% |
| VEA Vanguard Ftse Developed ETF | 6.80% | 123,208 | $7.7M | Add +11.5% |
| NULV Nuveen ESG Large-Cap Val ETF | 5.62% | 141,379 | $6.4M | Reduce -43.0% |
| DBEF Xtrackers MSCI Eafe Hedged E | 5.43% | 127,851 | $6.2M | Add +6.8% |
| ESGG NT Stoxx GLBL ESG ETF | 4.17% | 22,999 | $4.7M | Reduce -5.6% |
| IVV iShares Core S&P 500 ETF | 2.85% | 4,707 | $3.2M | Add +16.3% |
| NVDA Nvidia Corp. | 2.30% | 13,976 | $2.6M | Add +0.0% |
| AOK iShares Core 30/70 Conservat | 2.08% | 58,682 | $2.4M | New |
| HEEM iShares Crncy Hedgd MSCI Em | 1.85% | 60,169 | $2.1M | Add +24.2% |
| JPM JPMorgan Chase & Co. | 0.95% | 3,353 | $1.1M | Add +0.5% |
| EES Wisdomtree US Smallcap Fund | 0.89% | 17,760 | $1.0M | Reduce -0.9% |
| EMLP First Trust North American E | 0.62% | 18,435 | $698K | Reduce -2.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.58% | 3,465 | $662K | Reduce -78.9% |
| IEI iShares 3-7 Year Treasury Bo | 0.50% | 4,740 | $566K | Reduce -3.3% |
| DE Deere & Co. | 0.47% | 1,133 | $528K | Add +0.3% |
| EW Edwards Lifesciences Corp. | 0.46% | 6,113 | $521K | Add +36.1% |
| INCY Incyte Corp. | 0.45% | 5,198 | $513K | Add +38.8% |
| UNH Unitedhealth Group Inc. | 0.42% | 1,452 | $479K | Add +28.5% |
| PFE Pfizer Inc. | 0.42% | 19,104 | $476K | Add +51.9% |
| SSO Proshares Ultra S&P500 | 0.42% | 8,146 | $472K | Add +0.2% |
| ABT Abbott Laboratories | 0.42% | 3,756 | $471K | Add +24.7% |
| MDT Medtronic PLC | 0.36% | 4,280 | $411K | Add +3.3% |
| UWM Proshares Ultra RUSSELL2000 | 0.33% | 7,977 | $375K | Add +0.4% |
| TMO Thermo Fisher Scientific Inc. | 0.30% | 586 | $339K | New |
| REGN Regeneron Pharmaceuticals | 0.29% | 427 | $329K | Add +3.6% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.23% | 3,290 | $265K | Add +1.9% |
| TIP iShares Tips Bond ETF | 0.22% | 2,228 | $245K | Add +0.8% |
| IGF iShares Global Infrastructur | 0.22% | 3,968 | $244K | Add +1.6% |
| PM Philip Morris International | 0.20% | 1,437 | $230K | Add +0.9% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.20% | 2,021 | $223K | Add +1.5% |
| MIRM Mirum Pharmaceuticals Inc. | 0.19% | 2,663 | $210K | New |
| DHR Danaher Corp. | 0.18% | 915 | $209K | Reduce -30.3% |
| ZURA Zura Bio Ltd. | 0.09% | 19,577 | $103K | Reduce -9.0% |
| BCYC Bicycle Therapeutics PLC-ADR | 0.08% | 13,371 | $95K | New |
| CTMX Cytomx Therapeutics Inc. | 0.07% | 18,699 | $80K | Add +3.3% |
| NKTX Nkarta Inc. | 0.07% | 40,702 | $75K | Add +3.2% |
| GERN Geron Corp. | 0.06% | 51,320 | $68K | Reduce -1.8% |
| ANNX Annexon Inc. | 0.06% | 13,226 | $66K | Reduce -51.1% |
| MREO Mereo Biopharma Group PL-ADR | 0.01% | 31,768 | $13K | Reduce -4.3% |
Portfolio Sells Q3 2025 → Q4 2025
| NULV Nuveen ESG Large-Cap Val ETF | Reduce -43.0% | 5.62% | −4.84 |
| USMV iShares MSCI USA Min Vol Fac | Sold out | 0.00% | −4.14 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -78.9% | 0.58% | −2.37 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −2.33 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −1.77 |
| EDV Vanguard Extended Dur Treas | Sold out | 0.00% | −0.63 |
| ESGG NT Stoxx GLBL ESG ETF | Reduce -5.6% | 4.17% | −0.47 |
| EMLP First Trust North American E | Reduce -2.7% | 0.62% | −0.08 |
| EES Wisdomtree US Smallcap Fund | Reduce -0.9% | 0.89% | −0.07 |
| DHR Danaher Corp. | Reduce -30.3% | 0.18% | −0.07 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -3.3% | 0.50% | −0.06 |
| MREO Mereo Biopharma Group PL-ADR | Reduce -4.3% | 0.01% | −0.05 |
| ANNX Annexon Inc. | Reduce -51.1% | 0.06% | −0.02 |
| GERN Geron Corp. | Reduce -1.8% | 0.06% | −0.01 |
| ZURA Zura Bio Ltd. | Reduce -9.0% | 0.09% | +0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| ESGE iShares Inc. iShares ESG Awar | Add +83.7% | 14.18% | +5.90 |
| HDV iShares Core High Dividend E | Add +73.8% | 7.44% | +2.74 |
| AOK iShares Core 30/70 Conservat | New | 2.08% | +2.08 |
| MTUM iShares MSCI USA Momentum Fa | Add +35.1% | 11.19% | +1.93 |
| VWO Vanguard Ftse Emerging Marke | Add +32.5% | 8.60% | +1.46 |
| ESGD iShares Trust iShares ESG Aw | Add +14.0% | 17.73% | +1.14 |
| VEA Vanguard Ftse Developed ETF | Add +11.5% | 6.80% | +0.42 |
| TMO Thermo Fisher Scientific Inc. | New | 0.30% | +0.30 |
| HEEM iShares Crncy Hedgd MSCI Em | Add +24.2% | 1.85% | +0.28 |
| IVV iShares Core S&P 500 ETF | Add +16.3% | 2.85% | +0.24 |
| MIRM Mirum Pharmaceuticals Inc. | New | 0.19% | +0.19 |
| INCY Incyte Corp. | Add +38.8% | 0.45% | +0.15 |
| EW Edwards Lifesciences Corp. | Add +36.1% | 0.46% | +0.12 |
| PFE Pfizer Inc. | Add +51.9% | 0.42% | +0.11 |
| BCYC Bicycle Therapeutics PLC-ADR | New | 0.08% | +0.08 |
| DBEF Xtrackers MSCI Eafe Hedged E | Add +6.8% | 5.43% | +0.08 |
| REGN Regeneron Pharmaceuticals | Add +3.6% | 0.29% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +28.5% | 0.42% | +0.05 |
| ABT Abbott Laboratories | Add +24.7% | 0.42% | +0.03 |
| CTMX Cytomx Therapeutics Inc. | Add +3.3% | 0.07% | +0.01 |
| NKTX Nkarta Inc. | Add +3.2% | 0.07% | −0.01 |
| IGF iShares Global Infrastructur | Add +1.6% | 0.22% | −0.01 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +1.5% | 0.20% | −0.02 |
| MDT Medtronic PLC | Add +3.3% | 0.36% | −0.02 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +1.9% | 0.23% | −0.02 |
| PM Philip Morris International | Add +0.9% | 0.20% | −0.02 |
| TIP iShares Tips Bond ETF | Add +0.8% | 0.22% | −0.02 |
| SSO Proshares Ultra S&P500 | Add +0.2% | 0.42% | −0.02 |
| UWM Proshares Ultra RUSSELL2000 | Add +0.4% | 0.33% | −0.02 |
| DE Deere & Co. | Add +0.3% | 0.47% | −0.03 |
| JPM JPMorgan Chase & Co. | Add +0.5% | 0.95% | −0.06 |
| NVDA Nvidia Corp. | Add +0.0% | 2.30% | −0.21 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 37 | $92.0M | VWO, ESGD, ESGE, HDV, MTUM |
| Q1 2026 | 39 | $110.0M | ESGD, ESGE, VWO, HDV, NULV |
| Q4 2025 | 43 | $113.3M | ESGD, ESGE, MTUM, VWO, HDV |
| Q3 2025 | 43 | $103.8M | ESGD, NULV, MTUM, ESGE, VWO |
| Q2 2025Amended | 43 | $89.5M | NULV, MTUM, VWO, ESGD, VEA |
| Q1 2025 | 45 | $86.9M | NULV, SPYX, MTUM, VWO, VEA |
| Q4 2024 | 64 | $215.0M | NULV, BNDX, EMB, AOK, LTPZ |
| Q3 2024 | 67 | $212.0M | NULV, VWO, SPY, LTPZ, BNDX |
| Q2 2024 | 68 | $208.9M | NULV, VWO, SPY, LTPZ, BNDX |
| Q1 2024 | 67 | $206.2M | ESGD, NULV, VWO, SPY, LTPZ |