Fund Evaluation Group, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Fund Evaluation Group, LLC reported 79 stock positions worth $2.6 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 36.7% of the portfolio, followed by iShares US Treasury Bond ETF (GOVT, 12.0%) and Schwab US Large-Cap Growth (SCHG, 10.4%). Compared with Q1 2025, it opened 32 new positions, sold out of 1, added to 19 and reduced 15. The biggest buy was a new position in Vanguard Short-Term Tips (VTIP) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −11%).
- Most Recent 13F
- Q2 2026
- Location
- CINCINNATI, OH
- CIK
- 0001356249
- Portfolio Value
- $2.6B (Q2 2025)
- SEC Filing
- 0001420506-25-001768 ↗ filed Aug 7, 2025
Holdings Value
Holdings 79 stocks · $2.6B
| IVV iShares Core S&P 500 ETF | 36.71% | 1,529,303 | $949.5M | Reduce -10.7% |
| GOVT iShares US Treasury Bond ETF | 11.96% | 13,458,570 | $309.3M | Add +9.6% |
| SCHG Schwab US Large-Cap Growth | 10.38% | 9,190,023 | $268.4M | Reduce -9.7% |
| SCHX Schwab US Large-Cap ETF | 6.94% | 7,343,379 | $179.5M | Reduce -7.7% |
| IXUS iShares Core Intl Stock ETF | 5.85% | 1,957,364 | $151.3M | Add +13.8% |
| VOO Vanguard S&P 500 ETF | 4.80% | 218,394 | $124.1M | Add +14.3% |
| SCHF Schwab Intl Equity ETF | 4.10% | 4,804,438 | $106.2M | Add +19.7% |
| VTIP Vanguard Short-Term Tips | 1.58% | 811,905 | $40.8M | New |
| VTHR Vanguard Russell 3000 | 1.47% | 139,081 | $37.9M | New |
| CATH Global X S&P 500 Ca Val ETF | 1.39% | 476,073 | $35.9M | Reduce -2.1% |
| SHV iShares 0-1 Year Treasury Bo | 1.09% | 254,989 | $28.2M | Add +1.9% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 1.07% | 918,885 | $27.7M | Reduce -1.3% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.93% | 562,073 | $23.9M | Add +1.0% |
| SCHP Schwab U.S. Tips ETF | 0.80% | 775,010 | $20.7M | Add +3.6% |
| IWD iShares Russell 1000 Value E | 0.77% | 102,939 | $20.0M | Add +347.9% |
| SCHO Schwab Short-Term US Treas | 0.73% | 772,924 | $18.8M | No change |
| AGG iShares Core U.S. Aggregate | 0.71% | 185,506 | $18.4M | Reduce -12.1% |
| SUSA iShares ESG Optimized MSCI U | 0.61% | 124,086 | $15.7M | Reduce -3.5% |
| IWV iShares Russell 3000 ETF | 0.59% | 43,491 | $15.3M | Add +17.0% |
| IWR iShares Russell Mid-Cap ETF | 0.53% | 150,016 | $13.8M | Reduce -0.8% |
| ESGD iShares Trust iShares ESG Aw | 0.45% | 131,697 | $11.7M | Reduce -8.1% |
| TLT iShares 20+ Year Treasury BD | 0.42% | 123,166 | $10.9M | Reduce -0.7% |
| IGLB iShares 10+ Year Inv GR Corp. | 0.39% | 202,218 | $10.2M | No change |
| DFUS Dimensional US Eq MKT ETF | 0.38% | 145,369 | $9.7M | Add +5.9% |
| IWM iShares Russell 2000 ETF | 0.37% | 43,836 | $9.5M | No change |
| IWO iShares Russell 2000 Growth | 0.36% | 32,658 | $9.3M | No change |
| BIV Vanguard Intermediate-Term B | 0.35% | 118,369 | $9.2M | New |
| NULV Nuveen ESG Large-Cap Val ETF | 0.34% | 210,669 | $8.8M | Reduce -3.4% |
| EFA iShares MSCI Eafe ETF | 0.32% | 92,645 | $8.3M | Add +0.0% |
| SCHC Schwab Intl Small-Cap Equity | 0.24% | 143,811 | $6.1M | Reduce -7.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.22% | 12,759 | $5.6M | New |
| DBC Invesco DB Commodity Index T | 0.21% | 250,691 | $5.5M | No change |
| BND Vanguard Total Bond Market | 0.21% | 72,279 | $5.3M | Add +684.4% |
| CEFA Global X S&P Cath Val Devel | 0.19% | 143,029 | $4.9M | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.19% | 27,750 | $4.9M | New |
| VSGX Vanguard ESG Intl Stock ETF | 0.18% | 72,073 | $4.7M | Add +23.3% |
| USRT iShares Core US REIT ETF | 0.18% | 81,332 | $4.6M | No change |
| IVE iShares S&P 500 Value ETF | 0.17% | 21,896 | $4.3M | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.17% | 15,280 | $4.3M | New |
| VGK Vanguard Ftse Europe ETF | 0.12% | 38,421 | $3.0M | New |
| ESGV Vanguard ESG US Stock ETF | 0.10% | 24,720 | $2.7M | New |
| DFIV Dimensional International Va | 0.10% | 58,819 | $2.5M | Reduce -23.1% |
| ACWI iShares MSCI Acwi ETF | 0.09% | 18,456 | $2.4M | Add +1.3% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.09% | 36,190 | $2.2M | Reduce -4.2% |
| VNQ Vanguard Real Estate ETF | 0.08% | 23,269 | $2.1M | Add +41.1% |
| IEF iShares 7-10 Year Treasury B | 0.08% | 21,396 | $2.0M | New |
| VIOO Vanguard S&P Small-Cap 600 E | 0.08% | 19,180 | $1.9M | Reduce -11.4% |
| VGSH Vanguard Short-Term Treasury | 0.07% | 32,110 | $1.9M | New |
| VPL Vanguard Ftse Pacific ETF | 0.07% | 22,263 | $1.8M | New |
| VONG Vanguard Russell 1000 Growth | 0.06% | 14,570 | $1.6M | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.05% | 4,677 | $1.4M | Add +83.9% |
| EAGG iShares ESG Aware US Aggrega | 0.05% | 26,546 | $1.3M | New |
| VB Vanguard Most SM-Cap ETF-Usd | 0.05% | 5,264 | $1.2M | New |
| EDV Vanguard Extended Dur Treas | 0.04% | 17,065 | $1.1M | New |
| VWO Vanguard Ftse Emerging Marke | 0.04% | 21,948 | $1.1M | New |
| MSFT Microsoft Corp. | 0.04% | 1,911 | $951K | New |
| TIP iShares Tips Bond ETF | 0.04% | 8,505 | $936K | Add +24.6% |
| VIG Vanguard Dividend Apprec ETF | 0.04% | 4,442 | $909K | New |
| SCHH Schwab US REIT ETF | 0.03% | 38,294 | $810K | New |
| VMBS Vanguard Mortgage-Backed Sec | 0.03% | 16,650 | $772K | New |
| BSV Vanguard Short-Term Bond ETF | 0.03% | 9,668 | $761K | New |
| SCHD Schwab US DVD Equity ETF | 0.03% | 27,715 | $734K | New |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.03% | 5,300 | $655K | No change |
| VEA Vanguard Ftse Developed ETF | 0.03% | 11,328 | $646K | Add +4.0% |
| EFG iShares MSCI Eafe Growth ETF | 0.02% | 5,385 | $603K | No change |
| SPHQ Invesco S&P 500 Quality ETF | 0.02% | 8,021 | $572K | New |
| VIGI Vanguard Int Div App Indx FD | 0.02% | 6,221 | $561K | New |
| DFSI Dimensional Int Sus COR1 ETF | 0.02% | 13,534 | $533K | New |
| PRF Invesco Rafi US 1000 ETF | 0.02% | 12,602 | $533K | No change |
| VGIT Vanguard Intermediate-Term T | 0.02% | 8,863 | $530K | New |
| RSP Invesco S&P 500 Equal Weight | 0.02% | 2,898 | $527K | New |
| BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS | 0.02% | 20,786 | $432K | No change |
| EMB iShares JP Morgan Usd Emergi | 0.01% | 3,560 | $330K | New |
| IJR iShares Core S&P Small-Cap E | 0.01% | 3,010 | $329K | Add +0.1% |
| QUAL iShares MSCI USA Quality Fac | 0.01% | 1,714 | $313K | New |
| IAU iShares Gold Trust | 0.01% | 4,094 | $255K | New |
| IEFA iShares Core MSCI Eafe ETF | 0.01% | 2,746 | $229K | New |
| FTSM First Trust Enh Short Mat FD | 0.01% | 3,769 | $226K | New |
| AMAT Applied Materials Inc. | 0.01% | 1,228 | $225K | New |
Portfolio Sells Q1 2025 → Q2 2025
| IVV iShares Core S&P 500 ETF | Reduce -10.7% | 36.71% | −4.88 |
| SCHX Schwab US Large-Cap ETF | Reduce -7.7% | 6.94% | −0.66 |
| SCHG Schwab US Large-Cap Growth | Reduce -9.7% | 10.38% | −0.64 |
| EFV iShares MSCI Eafe Value ETF | Sold out | 0.00% | −0.33 |
| AGG iShares Core U.S. Aggregate | Reduce -12.1% | 0.71% | −0.19 |
| TLT iShares 20+ Year Treasury BD | Reduce -0.7% | 0.42% | −0.07 |
| ESGD iShares Trust iShares ESG Aw | Reduce -8.1% | 0.45% | −0.05 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -1.3% | 1.07% | −0.04 |
| NULV Nuveen ESG Large-Cap Val ETF | Reduce -3.4% | 0.34% | −0.04 |
| DFIV Dimensional International Va | Reduce -23.1% | 0.10% | −0.03 |
| CATH Global X S&P 500 Ca Val ETF | Reduce -2.1% | 1.39% | −0.03 |
| SUSA iShares ESG Optimized MSCI U | Reduce -3.5% | 0.61% | −0.03 |
| IWR iShares Russell Mid-Cap ETF | Reduce -0.8% | 0.53% | −0.02 |
| VIOO Vanguard S&P Small-Cap 600 E | Reduce -11.4% | 0.08% | −0.02 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -4.2% | 0.09% | −0.01 |
| SCHC Schwab Intl Small-Cap Equity | Reduce -7.5% | 0.24% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| VTIP Vanguard Short-Term Tips | New | 1.58% | +1.58 |
| VTHR Vanguard Russell 3000 | New | 1.47% | +1.47 |
| SCHF Schwab Intl Equity ETF | Add +19.7% | 4.10% | +0.67 |
| IXUS iShares Core Intl Stock ETF | Add +13.8% | 5.85% | +0.66 |
| IWD iShares Russell 1000 Value E | Add +347.9% | 0.77% | +0.59 |
| VOO Vanguard S&P 500 ETF | Add +14.3% | 4.80% | +0.55 |
| BIV Vanguard Intermediate-Term B | New | 0.35% | +0.35 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.22% | +0.22 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.19% | +0.19 |
| BND Vanguard Total Bond Market | Add +684.4% | 0.21% | +0.18 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.17% | +0.17 |
| VGK Vanguard Ftse Europe ETF | New | 0.12% | +0.12 |
| ESGV Vanguard ESG US Stock ETF | New | 0.10% | +0.10 |
| IWV iShares Russell 3000 ETF | Add +17.0% | 0.59% | +0.08 |
| IEF iShares 7-10 Year Treasury B | New | 0.08% | +0.08 |
| VGSH Vanguard Short-Term Treasury | New | 0.07% | +0.07 |
| VPL Vanguard Ftse Pacific ETF | New | 0.07% | +0.07 |
| EAGG iShares ESG Aware US Aggrega | New | 0.05% | +0.05 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.05% | +0.05 |
| EDV Vanguard Extended Dur Treas | New | 0.04% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | New | 0.04% | +0.04 |
| MSFT Microsoft Corp. | New | 0.04% | +0.04 |
| VIG Vanguard Dividend Apprec ETF | New | 0.04% | +0.04 |
| VSGX Vanguard ESG Intl Stock ETF | Add +23.3% | 0.18% | +0.03 |
| SCHH Schwab US REIT ETF | New | 0.03% | +0.03 |
| VMBS Vanguard Mortgage-Backed Sec | New | 0.03% | +0.03 |
| BSV Vanguard Short-Term Bond ETF | New | 0.03% | +0.03 |
| SCHD Schwab US DVD Equity ETF | New | 0.03% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +83.9% | 0.05% | +0.02 |
| SPHQ Invesco S&P 500 Quality ETF | New | 0.02% | +0.02 |
| VIGI Vanguard Int Div App Indx FD | New | 0.02% | +0.02 |
| DFSI Dimensional Int Sus COR1 ETF | New | 0.02% | +0.02 |
| VGIT Vanguard Intermediate-Term T | New | 0.02% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | New | 0.02% | +0.02 |
| DFUS Dimensional US Eq MKT ETF | Add +5.9% | 0.38% | +0.02 |
| VNQ Vanguard Real Estate ETF | Add +41.1% | 0.08% | +0.02 |
| EMB iShares JP Morgan Usd Emergi | New | 0.01% | +0.01 |
| QUAL iShares MSCI USA Quality Fac | New | 0.01% | +0.01 |
| IAU iShares Gold Trust | New | 0.01% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.01% | +0.01 |
| AMAT Applied Materials Inc. | New | 0.01% | +0.01 |
| FTSM First Trust Enh Short Mat FD | New | 0.01% | +0.01 |
| TIP iShares Tips Bond ETF | Add +24.6% | 0.04% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +4.0% | 0.03% | +0.00 |
| ACWI iShares MSCI Acwi ETF | Add +1.3% | 0.09% | +0.00 |
| IJR iShares Core S&P Small-Cap E | Add +0.1% | 0.01% | −0.00 |
| EFA iShares MSCI Eafe ETF | Add +0.0% | 0.32% | −0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +1.0% | 0.93% | −0.06 |
| SCHP Schwab U.S. Tips ETF | Add +3.6% | 0.80% | −0.07 |
| SHV iShares 0-1 Year Treasury Bo | Add +1.9% | 1.09% | −0.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 80 | $3.7B | IVV, SCHG, GOVT, SCHX, IXUS |
| Q1 2026 | 73 | $3.3B | IVV, GOVT, SCHG, SCHX, IXUS |
| Q4 2025 | 62 | $3.0B | IVV, GOVT, SCHG, SCHX, IXUS |
| Q3 2025 | 75 | $2.8B | IVV, GOVT, SCHG, SCHX, IXUS |
| Q2 2025 | 79 | $2.6B | IVV, GOVT, SCHG, SCHX, IXUS |
| Q1 2025 | 48 | $2.3B | IVV, GOVT, SCHG, SCHX, IXUS |
| Q4 2024 | 38 | $2.1B | IVV, GOVT, SCHG, SPSM, IXUS |
| Q3 2024 | 33 | $1.8B | IVV, SCHG, GOVT, SCHF, SCHX |
| Q2 2024Amended | 31 | $1.6B | IVV, SCHG, GOVT, SCHF, SCHX |
| Q1 2024 | 38 | $1.6B | IVV, SCHG, GOVT, SCHF, SCHX |