Forum Financial Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Forum Financial Management, LP reported 1,007 stock positions worth $7.3 billion. Its top holding was Dimensional US Core Equity 2 (DFAC) at 21.1% of the portfolio, followed by iShares 10-20 Year Treasury (TLH, 11.3%) and Dimensional US Target Value (DFAT, 7.8%). Compared with Q2 2025, it opened 109 new positions, sold out of 53, added to 623 and reduced 173. The biggest buy was Vanguard Tax-Exempt Bond ETF (VTEB, shares +615%) and the biggest sale Palantir Technologies Class A (PLTR, shares −71%).
- Most Recent 13F
- Q2 2026
- Location
- LOMBARD, IL
- CIK
- 0001911832
- Portfolio Value
- $7.3B (Q3 2025)
- SEC Filing
- 0001911832-25-000010 ↗ filed Oct 24, 2025
Holdings Value
Holdings 1,007 stocks · $7.3B
| DFAC Dimensional US Core Equity 2 | 21.14% | 40,038,710 | $1.5B | Add +2.9% |
| TLH iShares 10-20 Year Treasury | 11.29% | 8,011,239 | $825.1M | Add +1.6% |
| DFAT Dimensional US Target Value | 7.77% | 9,753,142 | $567.7M | Add +4.3% |
| DFEM Dimensional Emrg MRKT Core | 7.57% | 17,237,631 | $552.8M | Add +2.7% |
| DFIC Dimensional International Co. | 7.43% | 16,549,684 | $542.7M | Add +3.6% |
| DFGR Dim Global Real Estate ETF | 5.78% | 15,451,214 | $422.0M | Add +6.4% |
| DFGP Dimensional GLBL Core PL Fix | 4.60% | 6,041,452 | $335.7M | Add +2.4% |
| DUHP Dimensional US High Profi Et | 3.90% | 7,544,993 | $285.0M | Add +5.2% |
| DISV Dimensional International SM | 2.89% | 5,908,751 | $210.9M | Add +0.2% |
| DIHP Dimensional International Hi | 2.59% | 6,218,768 | $189.0M | Add +3.7% |
| AMGN Amgen Inc. | 1.35% | 350,613 | $98.9M | Reduce 0.0% |
| DFUS Dimensional US Eq MKT ETF | 1.20% | 1,212,084 | $87.8M | Reduce -0.6% |
| AAPL Apple Inc. | 1.14% | 328,004 | $83.5M | Add +5.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.91% | 1,322,231 | $66.2M | Add +615.4% |
| HYD Vaneck High Yield Muni ETF | 0.89% | 1,277,016 | $65.0M | Add +609.9% |
| DFUV Dimensional US Marketwide Va | 0.73% | 1,200,838 | $53.7M | Reduce -0.5% |
| VGLT Vanguard Long-Term Treasury | 0.65% | 833,454 | $47.4M | Add +293.2% |
| MSFT Microsoft Corp. | 0.64% | 90,657 | $47.0M | Add +11.6% |
| DFIS Dimensional International SM | 0.50% | 1,156,857 | $36.6M | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 0.49% | 148,478 | $36.2M | Reduce -0.5% |
| DFAX Dimensional World Ex US Core | 0.48% | 1,118,790 | $35.1M | Reduce -3.9% |
| GOOGL Alphabet Inc. Class A | 0.47% | 141,647 | $34.4M | Reduce -6.8% |
| NVDA Nvidia Corp. | 0.40% | 157,088 | $29.3M | Reduce -1.2% |
| META Meta Platforms Inc. Class A | 0.38% | 38,082 | $28.0M | Reduce -0.7% |
| PLTR Palantir Technologies Inc. Class A | 0.37% | 148,353 | $27.1M | Reduce -70.9% |
| JPM JPMorgan Chase & Co. | 0.36% | 84,159 | $26.5M | Add +2.6% |
| AMZN Amazon.com Inc. | 0.35% | 117,898 | $25.9M | Add +2.9% |
| DFSU Dimensional US Sus CORE1 ETF | 0.25% | 431,131 | $18.3M | Add +3.6% |
| DFIV Dimensional International Va | 0.24% | 387,996 | $17.9M | Reduce -1.3% |
| DFSE Dimensional Em Sus CORE1 ETF | 0.22% | 397,163 | $16.3M | Add +0.3% |
| BSVO EA Bridgeway Omni Sm-Cp Val | 0.20% | 658,724 | $14.9M | Reduce -1.4% |
| ABBV Abbvie Inc. | 0.20% | 62,145 | $14.4M | Add +4.1% |
| VGSR Vert GLB Sust Re ETF filed as MANAGER DIRECTED PORTFOLIOS | 0.18% | 1,254,305 | $13.4M | Add +3.1% |
| DFSI Dimensional Int Sus COR1 ETF | 0.16% | 286,947 | $11.8M | Reduce -0.8% |
| AVGO Broadcom Inc. | 0.15% | 34,250 | $11.3M | Add +5.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.15% | 16,567 | $11.0M | Reduce -1.0% |
| XOM Exxon Mobil Corp. | 0.14% | 93,438 | $10.5M | Add +7.6% |
| DFAS Dimensional US Small Cap ETF | 0.14% | 153,833 | $10.5M | Add +5.3% |
| DFIP Dimensional Inflation-Protec | 0.14% | 240,233 | $10.1M | Add +188.9% |
| DFAR Dimensional US Real Est ETF | 0.13% | 401,568 | $9.6M | Reduce -0.2% |
| TSLA Tesla Inc. | 0.12% | 19,564 | $8.7M | Reduce -4.3% |
| ABT Abbott Laboratories | 0.12% | 62,932 | $8.4M | Add +5.6% |
| DFCF Dimensional Core Fixed Inc. | 0.11% | 186,351 | $8.0M | Add +344.4% |
| WMT Walmart Inc. | 0.10% | 72,764 | $7.5M | Reduce -0.9% |
| VOO Vanguard S&P 500 ETF | 0.10% | 12,137 | $7.4M | Add +2.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.10% | 21,431 | $7.0M | Add +0.6% |
| DE Deere & Co. | 0.09% | 14,985 | $6.9M | Add +2.2% |
| IWF iShares Russell 1000 Growth | 0.09% | 14,092 | $6.6M | Add +0.0% |
| JNJ Johnson & Johnson | 0.09% | 35,543 | $6.6M | Add +6.3% |
| HD Home Depot Inc. | 0.09% | 16,091 | $6.5M | Add +4.4% |
| LLY Eli Lilly & Co. | 0.09% | 8,468 | $6.5M | Reduce -3.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 122,219 | $6.3M | Add +10.5% |
| IVV iShares Core S&P 500 ETF | 0.08% | 9,048 | $6.1M | Reduce -1.6% |
| OUNZ Vaneck Merk Gold ETF | 0.08% | 160,123 | $6.0M | No change |
| CVX Chevron Corp. | 0.08% | 36,853 | $5.7M | Add +11.7% |
| COST Costco Wholesale Corp. | 0.07% | 5,787 | $5.4M | Add +1.6% |
| MS Morgan Stanley | 0.07% | 33,094 | $5.3M | Add +6.6% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.07% | 322,044 | $5.1M | No change |
| TBIL F/M US Treasury 3 Month Bill | 0.07% | 101,810 | $5.1M | Reduce -1.2% |
| PG The Procter & Gamble Co. | 0.07% | 32,839 | $5.0M | Add +30.5% |
| WFC Wells Fargo & Co. | 0.07% | 59,484 | $5.0M | Add +10.4% |
| MU Micron Technology Inc. | 0.07% | 29,541 | $4.9M | Add +11.2% |
| SAP Sap SE-Sponsored ADR | 0.07% | 18,390 | $4.9M | Add +4.0% |
| TTE Totalenergies SE -Spon ADR | 0.06% | 79,459 | $4.7M | No change |
| T AT&T Inc. | 0.06% | 166,915 | $4.7M | Add +1.8% |
| ORCL Oracle Corp. | 0.06% | 16,365 | $4.6M | Add +5.8% |
| ALL Allstate Corp. | 0.06% | 21,195 | $4.5M | Add +4.6% |
| DFSV Dimensional US Small Cap Val | 0.06% | 141,766 | $4.5M | Reduce -15.3% |
| BHP BHP Group Ltd.-Spon ADR | 0.06% | 75,967 | $4.2M | Add +13.5% |
| CBOE Cboe Global Markets Inc. | 0.06% | 17,066 | $4.2M | Add +3.6% |
| V Visa Inc. Class A | 0.06% | 11,999 | $4.1M | Add +4.5% |
| NFLX Netflix Inc. | 0.06% | 3,374 | $4.0M | Add +1.4% |
| TM Toyota Motor Corp. -Spon ADR | 0.05% | 20,477 | $3.9M | Add +0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.05% | 33,965 | $3.9M | Reduce -1.1% |
| MAR Marriott International Class A | 0.05% | 14,917 | $3.9M | Add +3.2% |
| AVUS Avantis U.S. Equity ETF | 0.05% | 35,636 | $3.9M | Reduce -19.2% |
| GS Goldman Sachs Group Inc. | 0.05% | 4,772 | $3.8M | Add +12.9% |
| COF Capital One Financial Corp. | 0.05% | 17,770 | $3.8M | Add +5.1% |
| OSBC Old Second Bancorp Inc. | 0.05% | 215,371 | $3.7M | Reduce -6.3% |
| VEA Vanguard Ftse Developed ETF | 0.05% | 62,095 | $3.7M | Reduce -7.3% |
| MCD McDonald's Corp. | 0.05% | 12,017 | $3.7M | Add +19.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.05% | 7,569 | $3.6M | Add +0.3% |
| CAT Caterpillar Inc. | 0.05% | 7,552 | $3.6M | Add +2.0% |
| SMFG Sumitomo Mitsui-Spons ADR | 0.05% | 209,587 | $3.5M | No change |
| SONY Sony Group Corp. - SP ADR | 0.05% | 118,617 | $3.4M | Add +7.5% |
| SHV iShares 0-1 Year Treasury Bo | 0.05% | 30,628 | $3.4M | Add +40.9% |
| C Citigroup Inc. | 0.05% | 33,320 | $3.4M | Add +5.6% |
| WTM White Mountains Insurance GP | 0.05% | 2,016 | $3.4M | No change |
| SYY Sysco Corp. | 0.05% | 40,909 | $3.4M | Reduce -16.6% |
| GE General Electric filed as GE AEROSPACE | 0.05% | 11,195 | $3.4M | Reduce -1.6% |
| DB Deutsche Bank AG-Registered | 0.05% | 94,166 | $3.3M | No change |
| CSCO Cisco Systems Inc. | 0.05% | 48,572 | $3.3M | Add +5.5% |
| INTC Intel Corp. | 0.05% | 98,370 | $3.3M | Add +72.5% |
| VZ Verizon Communications Inc. | 0.04% | 74,539 | $3.3M | Add +8.2% |
| SNY Sanofi-ADR | 0.04% | 69,279 | $3.3M | Add +21.5% |
| NVS Novartis AG-Sponsored ADR | 0.04% | 24,607 | $3.2M | No change |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.04% | 44,246 | $3.1M | No change |
| AMD Advanced Micro Devices | 0.04% | 18,924 | $3.1M | Add +11.0% |
| MA Mastercard Inc. Class A | 0.04% | 5,333 | $3.0M | Add +10.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.04% | 5,035 | $3.0M | Add +1.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PCT Purecycle Technologies Inc. | COM · principal | 125,000 | $1.6M | No change |
Total filed on the 13F, all lines: $7.3B.
Portfolio Sells Q2 2025 → Q3 2025
| PLTR Palantir Technologies Inc. Class A | Reduce -70.9% | 0.37% | −0.69 |
| AMGN Amgen Inc. | Reduce 0.0% | 1.35% | −0.14 |
| META Meta Platforms Inc. Class A | Reduce -0.7% | 0.38% | −0.05 |
| DFUS Dimensional US Eq MKT ETF | Reduce -0.6% | 1.20% | −0.04 |
| DFUV Dimensional US Marketwide Va | Reduce -0.5% | 0.73% | −0.04 |
| DFAX Dimensional World Ex US Core | Reduce -3.9% | 0.48% | −0.04 |
| DFIS Dimensional International SM | Reduce -0.2% | 0.50% | −0.03 |
| LLY Eli Lilly & Co. | Reduce -3.8% | 0.09% | −0.02 |
| AVUS Avantis U.S. Equity ETF | Reduce -19.2% | 0.05% | −0.01 |
| DFSV Dimensional US Small Cap Val | Reduce -15.3% | 0.06% | −0.01 |
| DUSB Dimension Ultrashort Fi ETF | Sold out | 0.00% | −0.01 |
| DFSI Dimensional Int Sus COR1 ETF | Reduce -0.8% | 0.16% | −0.01 |
| DFAR Dimensional US Real Est ETF | Reduce -0.2% | 0.13% | −0.01 |
| DIS The Walt Disney Co. | Reduce -1.1% | 0.05% | −0.01 |
| DFIV Dimensional International Va | Reduce -1.3% | 0.24% | −0.01 |
| MUB iShares National Muni Bond E | Reduce -15.6% | 0.04% | −0.01 |
| OSBC Old Second Bancorp Inc. | Reduce -6.3% | 0.05% | −0.01 |
| SYY Sysco Corp. | Reduce -16.6% | 0.05% | −0.01 |
| ET Energy Transfer LP | Reduce -14.8% | 0.02% | −0.01 |
| DFLV Dim US Large Cap Value ETF | Sold out | 0.00% | −0.01 |
| TBIL F/M US Treasury 3 Month Bill | Reduce -1.2% | 0.07% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -7.7% | 0.02% | −0.01 |
| HES Hess Corp. | Sold out | 0.00% | −0.01 |
| PRSU Pursuit Attractions and Hosp | Sold out | 0.00% | −0.01 |
| CNC Centene Corp. | Sold out | 0.00% | −0.01 |
| VEA Vanguard Ftse Developed ETF | Reduce -7.3% | 0.05% | −0.01 |
| SDY SS SPDR S&P Dividend ETF | Reduce -27.4% | 0.01% | −0.01 |
| WMT Walmart Inc. | Reduce -0.9% | 0.10% | −0.01 |
| GME Gamestop Corp. Class A | Sold out | 0.00% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.0% | 0.15% | −0.01 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.01 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.01 |
| AVRE Avantis Real Estate ETF | Reduce -12.1% | 0.02% | −0.01 |
| KMX Carmax Inc. | Sold out | 0.00% | −0.01 |
| ADBE Adobe Inc. | Reduce -3.6% | 0.02% | −0.01 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −0.01 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −0.01 |
| IT Gartner Inc. | Sold out | 0.00% | −0.01 |
| AZEK The Azek Co. Inc. | Sold out | 0.00% | −0.00 |
| PRMB Primo Brands Corp. | Sold out | 0.00% | −0.00 |
| AMCR Amcor PLC | Reduce -28.7% | 0.01% | −0.00 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.00 |
| IWD iShares Russell 1000 Value E | Reduce -7.8% | 0.03% | −0.00 |
| CPB The Campbell's Company | Sold out | 0.00% | −0.00 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.00 |
| XLK SS Technology Select Sector | Reduce -13.6% | 0.03% | −0.00 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.00 |
| ONEQ Fidelity Nasdaq Comp Indx | Sold out | 0.00% | −0.00 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.00 |
| RIVN Rivian Automotive Inc. Class A | Reduce -36.0% | 0.01% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| VTEB Vanguard Tax-Exempt Bond ETF | Add +615.4% | 0.91% | +0.77 |
| HYD Vaneck High Yield Muni ETF | Add +609.9% | 0.89% | +0.75 |
| VGLT Vanguard Long-Term Treasury | Add +293.2% | 0.65% | +0.47 |
| AAPL Apple Inc. | Add +5.1% | 1.14% | +0.17 |
| DFAT Dimensional US Target Value | Add +4.3% | 7.77% | +0.09 |
| DFIP Dimensional Inflation-Protec | Add +188.9% | 0.14% | +0.09 |
| DFCF Dimensional Core Fixed Inc. | Add +344.4% | 0.11% | +0.08 |
| ABBV Abbvie Inc. | Add +4.1% | 0.20% | +0.03 |
| MSFT Microsoft Corp. | Add +11.6% | 0.64% | +0.03 |
| INTC Intel Corp. | Add +72.5% | 0.05% | +0.03 |
| DUHP Dimensional US High Profi Et | Add +5.2% | 3.90% | +0.02 |
| AVGO Broadcom Inc. | Add +5.5% | 0.15% | +0.02 |
| MU Micron Technology Inc. | Add +11.2% | 0.07% | +0.02 |
| APP AppLovin Corp. Class A | Add +0.0% | 0.04% | +0.02 |
| JNJ Johnson & Johnson | Add +6.3% | 0.09% | +0.01 |
| ORCL Oracle Corp. | Add +5.8% | 0.06% | +0.01 |
| PFE Pfizer Inc. | Add +47.2% | 0.04% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | Add +25.2% | 0.04% | +0.01 |
| HOOD Robinhood Markets Inc. Class A | Add +0.7% | 0.04% | +0.01 |
| SHV iShares 0-1 Year Treasury Bo | Add +40.9% | 0.05% | +0.01 |
| QCOM Qualcomm Inc. | Add +64.1% | 0.03% | +0.01 |
| STM Stmicroelectronics NV-NY SHS | New | 0.01% | +0.01 |
| BHP BHP Group Ltd.-Spon ADR | Add +13.5% | 0.06% | +0.01 |
| VGT Vanguard Info Tech ETF | New | 0.01% | +0.01 |
| SMCI Super Micro Computer Inc. | New | 0.01% | +0.01 |
| PG The Procter & Gamble Co. | Add +30.5% | 0.07% | +0.01 |
| AMAT Applied Materials Inc. | Add +32.8% | 0.03% | +0.01 |
| SHOP Shopify Inc. Class A | Add +49.4% | 0.02% | +0.01 |
| BAC Bank of America Corp. | Add +10.5% | 0.09% | +0.01 |
| BE Bloom Energy Corp. Class A | New | 0.01% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +12.9% | 0.05% | +0.01 |
| CVX Chevron Corp. | Add +11.7% | 0.08% | +0.01 |
| TER Teradyne Inc. | New | 0.01% | +0.01 |
| CAT Caterpillar Inc. | Add +2.0% | 0.05% | +0.01 |
| MS Morgan Stanley | Add +6.6% | 0.07% | +0.01 |
| C Citigroup Inc. | Add +5.6% | 0.05% | +0.01 |
| MCD McDonald's Corp. | Add +19.9% | 0.05% | +0.01 |
| NEM Newmont Corp. | Add +0.0% | 0.02% | +0.01 |
| NOC Northrop Grumman Corp. | Add +32.0% | 0.02% | +0.01 |
| AMD Advanced Micro Devices | Add +11.0% | 0.04% | +0.01 |
| WDC Western Digital Corp. | Add +10.4% | 0.01% | +0.01 |
| MFG Mizuho Financial Group-ADR | Add +7.3% | 0.03% | +0.00 |
| ROP Roper Technologies Inc. | Add +92.9% | 0.01% | +0.00 |
| ALAB Astera Labs Inc. | New | 0.00% | +0.00 |
| CRL Charles River Laboratories | New | 0.00% | +0.00 |
| ERIC Ericsson (lm) Tel-SP ADR | Add +29.6% | 0.04% | +0.00 |
| PPG PPG Industries Inc. | Add +127.5% | 0.01% | +0.00 |
| GLD SPDR Gold Shares | Add +68.3% | 0.01% | +0.00 |
| TNK Teekay Tankers Ltd. Class A | New | 0.00% | +0.00 |
| CGNX Cognex Corp. | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 351 | $7.8B | DFAC, TLH, DFAT, DFEM, DFIC |
| Q1 2026 | 330 | $7.1B | DFAC, TLH, DFAT, DFIC, DFEM |
| Q4 2025 | 1,011 | $7.7B | DFAC, TLH, DFAT, DFEM, DFIC |
| Q3 2025 | 1,007 | $7.3B | DFAC, TLH, DFAT, DFEM, DFIC |
| Q2 2025 | 951 | $6.6B | DFAC, TLH, DFAT, DFEM, DFIC |
| Q1 2025 | 866 | $6.0B | DFAC, TLH, DFAT, DFIC, DFEM |
| Q4 2024Amended | 890 | $6.0B | DFAC, TLH, DFAT, DFEM, DFIC |
| Q3 2024 | 765 | $6.0B | DFAC, TLH, DFAT, DFIC, DFEM |
| Q2 2024 | 715 | $5.5B | DFAC, TLH, DFAT, DFEM, DFIC |
| Q1 2024 | 740 | $5.9B | DFAC, TLH, DFAT, DFIC, DFEM |