JMG Financial Group, Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), JMG Financial Group, Ltd. reported 122 stock positions worth $3.5 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 23.6% of the portfolio, followed by Vngrd Mrngstr MD-Cap ETF-Usd (VO, 11.1%) and Vanguard Ftse Developed ETF (VEA, 10.6%). Compared with Q2 2025, it opened 5 new positions, sold out of 7, added to 38 and reduced 47. The biggest buy was Dimensional US Small Cap Val (DFSV, shares +3%) and the biggest sale Vanguard Ftse Developed ETF (VEA, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- DOWNERS GROVE, IL
- CIK
- 0001314404
- Portfolio Value
- $3.5B (Q3 2025)
- SEC Filing
- 0001314404-25-000008 ↗ filed Nov 12, 2025
Holdings Value
Holdings 122 stocks · $3.5B
| VOO Vanguard S&P 500 ETF | 23.62% | 1,354,883 | $829.7M | Reduce -0.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 11.12% | 1,329,045 | $390.4M | Add +0.3% |
| VEA Vanguard Ftse Developed ETF | 10.62% | 6,226,335 | $373.1M | Reduce -0.9% |
| SCHX Schwab US Large-Cap ETF | 6.59% | 8,784,010 | $231.4M | Reduce -3.3% |
| DFSV Dimensional US Small Cap Val | 5.09% | 5,613,124 | $178.7M | Add +3.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.96% | 261,255 | $174.0M | Reduce -2.0% |
| VWO Vanguard Ftse Emerging Marke | 4.45% | 2,883,664 | $156.2M | Reduce -0.2% |
| DFGR Dim Global Real Estate ETF | 4.16% | 5,355,327 | $146.3M | Add +7.2% |
| DFIC Dimensional International Co. | 4.01% | 4,290,310 | $140.7M | Add +3.3% |
| SCHF Schwab Intl Equity ETF | 2.87% | 4,324,179 | $100.7M | Reduce -1.8% |
| SCHM Schwab US Mid Cap ETF | 2.73% | 3,237,135 | $95.9M | Reduce -1.9% |
| IWR iShares Russell Mid-Cap ETF | 2.44% | 889,118 | $85.8M | Reduce -2.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 2.35% | 394,828 | $82.4M | Reduce -0.8% |
| DFEM Dimensional Emrg MRKT Core | 1.87% | 2,049,754 | $65.7M | Add +4.1% |
| VTI VG Morningstar TS MKT ETF-US | 1.44% | 154,606 | $50.7M | Reduce -4.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.33% | 151,952 | $46.8M | Reduce -0.7% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.97% | 1,018,714 | $34.0M | Reduce -3.7% |
| IVV iShares Core S&P 500 ETF | 0.79% | 41,688 | $27.9M | Add +1.5% |
| VNQ Vanguard Real Estate ETF | 0.64% | 247,012 | $22.6M | Reduce -1.2% |
| IWF iShares Russell 1000 Growth | 0.48% | 35,736 | $16.7M | Reduce -2.1% |
| IWP iShares Russell Mid-Cap Grow | 0.47% | 116,185 | $16.5M | Reduce -2.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.45% | 223,232 | $15.9M | Reduce -0.8% |
| IWB iShares Russell 1000 ETF | 0.42% | 40,792 | $14.9M | Reduce -0.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.39% | 28,864 | $13.8M | Reduce -0.9% |
| IWS iShares Russell Mid-Cap Valu | 0.30% | 76,043 | $10.6M | Reduce -3.0% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.30% | 60,822 | $10.6M | Add +0.8% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.28% | 206,331 | $9.9M | Add +3.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.26% | 48,293 | $9.0M | Reduce -0.8% |
| SCHG Schwab US Large-Cap Growth | 0.24% | 264,761 | $8.4M | Add +0.0% |
| SCHB Schwab US Broad Market ETF | 0.24% | 324,285 | $8.3M | Reduce -2.6% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.23% | 26,942 | $7.9M | Reduce -0.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 12,834 | $7.7M | Add +2.5% |
| IWM iShares Russell 2000 ETF | 0.21% | 30,594 | $7.4M | Add +0.1% |
| DFAS Dimensional US Small Cap ETF | 0.18% | 93,410 | $6.4M | Add +0.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.15% | 20,447 | $5.2M | Add +0.9% |
| IWD iShares Russell 1000 Value E | 0.15% | 25,362 | $5.2M | Reduce -0.2% |
| IUSG iShares Core S&P U.S. Growth | 0.12% | 26,307 | $4.3M | Add +0.5% |
| MDY State Street SPDR S&P Midcap | 0.12% | 7,053 | $4.2M | Reduce -2.3% |
| VIG Vanguard Dividend Apprec ETF | 0.12% | 19,185 | $4.1M | Add +1.9% |
| EFA iShares MSCI Eafe ETF | 0.11% | 41,998 | $3.9M | Add +4.5% |
| XLK SS Technology Select Sector | 0.11% | 13,109 | $3.7M | Reduce -0.0% |
| IVW iShares S&P 500 Growth ETF | 0.10% | 28,005 | $3.4M | No change |
| IJR iShares Core S&P Small-Cap E | 0.09% | 27,109 | $3.2M | Add +1.0% |
| IWV iShares Russell 3000 ETF | 0.09% | 8,252 | $3.1M | Reduce -1.2% |
| SCHP Schwab U.S. Tips ETF | 0.09% | 115,046 | $3.1M | Add +2.9% |
| ESGD iShares Trust iShares ESG Aw | 0.08% | 31,974 | $3.0M | No change |
| MSFT Microsoft Corp. | 0.08% | 5,490 | $2.8M | Reduce -4.2% |
| VTIP Vanguard Short-Term Tips | 0.08% | 55,293 | $2.8M | Reduce -2.6% |
| SCHH Schwab US REIT ETF | 0.08% | 122,993 | $2.7M | Add +0.8% |
| SCHZ Schwab US Aggregate Bond ETF | 0.07% | 100,021 | $2.3M | Reduce -14.5% |
| DFIV Dimensional International Va | 0.06% | 48,906 | $2.3M | Add +22.2% |
| IWO iShares Russell 2000 Growth | 0.06% | 6,695 | $2.1M | Add +1.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.06% | 4,153 | $2.1M | Reduce -2.1% |
| AGG iShares Core U.S. Aggregate | 0.06% | 20,433 | $2.0M | Add +6.2% |
| SCHD Schwab US DVD Equity ETF | 0.05% | 69,296 | $1.9M | Add +72.9% |
| IWN iShares Russell 2000 Value E | 0.05% | 10,672 | $1.9M | Add +1.4% |
| BNDX Vanguard Total Intl Bond ETF | 0.05% | 37,553 | $1.9M | Add +2.6% |
| IEMG iShares Core MSCI Emerging | 0.05% | 27,552 | $1.8M | Reduce -0.3% |
| ESGU iShares ESG Aware MSCI USA | 0.05% | 11,997 | $1.7M | Reduce -1.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.05% | 19,772 | $1.7M | Reduce -5.0% |
| ESGE iShares Inc. iShares ESG Awar | 0.05% | 38,033 | $1.7M | Add +0.2% |
| DVY iShares Select Dividend ETF | 0.05% | 11,202 | $1.6M | Reduce -0.8% |
| DFAR Dimensional US Real Est ETF | 0.04% | 65,780 | $1.6M | Add +2.0% |
| GOOGL Alphabet Inc. Class A | 0.04% | 5,740 | $1.4M | No change |
| ACWI iShares MSCI Acwi ETF | 0.04% | 10,000 | $1.4M | No change |
| SCHA Schwab US Small-Cap ETF | 0.04% | 48,473 | $1.4M | Add +1.4% |
| AAPL Apple Inc. | 0.04% | 5,066 | $1.3M | Reduce -0.1% |
| SCHV Schwab US Large-Cap Value | 0.04% | 42,925 | $1.2M | Add +0.0% |
| USMV iShares MSCI USA Min Vol Fac | 0.03% | 12,847 | $1.2M | No change |
| RSP Invesco S&P 500 Equal Weight | 0.03% | 5,877 | $1.1M | No change |
| EEM iShares MSCI Emerging Market | 0.03% | 20,403 | $1.1M | Reduce -0.8% |
| IXUS iShares Core Intl Stock ETF | 0.03% | 12,362 | $1.0M | No change |
| IJH iShares Core S&P Midcap ETF | 0.03% | 14,790 | $965K | Reduce -5.3% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.03% | 7,216 | $936K | Add +11.5% |
| BND Vanguard Total Bond Market | 0.02% | 10,881 | $809K | Add +0.1% |
| IVE iShares S&P 500 Value ETF | 0.02% | 3,879 | $801K | Reduce -7.9% |
| GLD SPDR Gold Shares | 0.02% | 2,192 | $779K | No change |
| EEMV iShares MSCI Emg MKT Min Vol | 0.02% | 11,285 | $720K | Add +0.5% |
| VT Vanguard Tot World STK ETF | 0.02% | 5,120 | $706K | No change |
| DMXF iShares ESG Advanc MSCI Eafe | 0.02% | 9,236 | $700K | Reduce -1.2% |
| TDG Transdigm Group Inc. | 0.02% | 513 | $676K | No change |
| USXF iShares ESG Advance MSCI USA | 0.02% | 11,633 | $667K | No change |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.02% | 20,850 | $650K | No change |
| VXUS Vanguard Total Intl Stock | 0.02% | 8,384 | $616K | Reduce -0.5% |
| MA Mastercard Inc. Class A | 0.02% | 1,019 | $579K | No change |
| SCZ iShares MSCI Eafe Small-Cap | 0.02% | 7,541 | $579K | Add +0.5% |
| IBIT iShares Bitcoin Trust ETF | 0.02% | 8,326 | $541K | Add +66.5% |
| GOOG Alphabet Inc. Class C | 0.01% | 2,130 | $519K | Reduce -3.9% |
| GSLC Goldman Activebeta US LC ETF | 0.01% | 3,829 | $499K | Add +0.1% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.01% | 17,875 | $470K | Add +8.1% |
| XOM Exxon Mobil Corp. | 0.01% | 4,145 | $467K | No change |
| XLF SS Financial Select Sector | 0.01% | 8,554 | $461K | No change |
| TIP iShares Tips Bond ETF | 0.01% | 4,029 | $448K | Add +5.1% |
| VONG Vanguard Russell 1000 Growth | 0.01% | 3,689 | $444K | No change |
| EFAV iShares MSCI Eafe Min Vol Fa | 0.01% | 5,231 | $444K | No change |
| JNJ Johnson & Johnson | 0.01% | 2,317 | $430K | Reduce -2.2% |
| AMZN Amazon.com Inc. | 0.01% | 1,915 | $420K | Reduce -10.5% |
| IJS iShares S&P Small-Cap 600 Va | 0.01% | 3,723 | $412K | Reduce -20.9% |
| EFG iShares MSCI Eafe Growth ETF | 0.01% | 3,424 | $390K | New |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.01% | 8,468 | $364K | Add +14.3% |
Portfolio Sells Q2 2025 → Q3 2025
| VEA Vanguard Ftse Developed ETF | Reduce -0.9% | 10.62% | −0.23 |
| SCHX Schwab US Large-Cap ETF | Reduce -3.3% | 6.59% | −0.14 |
| IWR iShares Russell Mid-Cap ETF | Reduce -2.1% | 2.44% | −0.09 |
| SCHF Schwab Intl Equity ETF | Reduce -1.8% | 2.87% | −0.08 |
| SCHM Schwab US Mid Cap ETF | Reduce -1.9% | 2.73% | −0.07 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -4.6% | 1.44% | −0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.0% | 4.96% | −0.04 |
| VNQ Vanguard Real Estate ETF | Reduce -1.2% | 0.64% | −0.03 |
| IWP iShares Russell Mid-Cap Grow | Reduce -2.6% | 0.47% | −0.03 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.02 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -14.5% | 0.07% | −0.02 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.01 |
| IWS iShares Russell Mid-Cap Valu | Reduce -3.0% | 0.30% | −0.01 |
| RGLD Royal Gold Inc. | Sold out | 0.00% | −0.01 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -0.5% | 0.23% | −0.01 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.01 |
| VTIP Vanguard Short-Term Tips | Reduce -2.6% | 0.08% | −0.01 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.8% | 2.35% | −0.01 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.01 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.01 |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | Reduce -38.6% | 0.01% | −0.01 |
| MSFT Microsoft Corp. | Reduce -4.2% | 0.08% | −0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -0.8% | 0.45% | −0.00 |
| MDY State Street SPDR S&P Midcap | Reduce -2.3% | 0.12% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -0.8% | 0.26% | −0.00 |
| META Meta Platforms Inc. Class A | Reduce -28.5% | 0.01% | −0.00 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -5.0% | 0.05% | −0.00 |
| SCHB Schwab US Broad Market ETF | Reduce -2.6% | 0.24% | −0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.1% | 0.06% | −0.00 |
| IWD iShares Russell 1000 Value E | Reduce -0.2% | 0.15% | −0.00 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -20.9% | 0.01% | −0.00 |
| AMZN Amazon.com Inc. | Reduce -10.5% | 0.01% | −0.00 |
| IVE iShares S&P 500 Value ETF | Reduce -7.9% | 0.02% | −0.00 |
| IJH iShares Core S&P Midcap ETF | Reduce -5.3% | 0.03% | −0.00 |
| DMXF iShares ESG Advanc MSCI Eafe | Reduce -1.2% | 0.02% | −0.00 |
| ACWV iShares MSCI Global Min Vol | Reduce -8.7% | 0.01% | −0.00 |
| DVY iShares Select Dividend ETF | Reduce -0.8% | 0.05% | −0.00 |
| VXUS Vanguard Total Intl Stock | Reduce -0.5% | 0.02% | −0.00 |
| ESGU iShares ESG Aware MSCI USA | Reduce -1.0% | 0.05% | 0.00 |
| IWV iShares Russell 3000 ETF | Reduce -1.2% | 0.09% | +0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -3.7% | 0.97% | +0.00 |
| EEM iShares MSCI Emerging Market | Reduce -0.8% | 0.03% | +0.00 |
| JNJ Johnson & Johnson | Reduce -2.2% | 0.01% | +0.00 |
| IEMG iShares Core MSCI Emerging | Reduce -0.3% | 0.05% | +0.00 |
| IWB iShares Russell 1000 ETF | Reduce -0.6% | 0.42% | +0.00 |
| GOOG Alphabet Inc. Class C | Reduce -3.9% | 0.01% | +0.00 |
| XLK SS Technology Select Sector | Reduce -0.0% | 0.11% | +0.00 |
| AAPL Apple Inc. | Reduce -0.1% | 0.04% | +0.01 |
| IWF iShares Russell 1000 Growth | Reduce -2.1% | 0.48% | +0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| DFSV Dimensional US Small Cap Val | Add +3.4% | 5.09% | +0.24 |
| DFGR Dim Global Real Estate ETF | Add +7.2% | 4.16% | +0.10 |
| DFEM Dimensional Emrg MRKT Core | Add +4.1% | 1.87% | +0.10 |
| DFIC Dimensional International Co. | Add +3.3% | 4.01% | +0.09 |
| SCHD Schwab US DVD Equity ETF | Add +72.9% | 0.05% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +1.5% | 0.79% | +0.02 |
| DFIV Dimensional International Va | Add +22.2% | 0.06% | +0.01 |
| EFG iShares MSCI Eafe Growth ETF | New | 0.01% | +0.01 |
| IWM iShares Russell 2000 ETF | Add +0.1% | 0.21% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Add +2.5% | 0.22% | +0.01 |
| DLN Wisdomtree US Largecap Divid | New | 0.01% | +0.01 |
| SPYV SS SPDR P S&P 500 Value ETF | New | 0.01% | +0.01 |
| SCHG Schwab US Large-Cap Growth | Add +0.0% | 0.24% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | Add +66.5% | 0.02% | +0.01 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.01% | +0.01 |
| IVOV Vanguard S&P Mid-Cap 400 Val | New | 0.01% | +0.01 |
| IUSG iShares Core S&P U.S. Growth | Add +0.5% | 0.12% | +0.00 |
| IWO iShares Russell 2000 Growth | Add +1.4% | 0.06% | +0.00 |
| IWN iShares Russell 2000 Value E | Add +1.4% | 0.05% | +0.00 |
| EFA iShares MSCI Eafe ETF | Add +4.5% | 0.11% | +0.00 |
| IJR iShares Core S&P Small-Cap E | Add +1.0% | 0.09% | +0.00 |
| IJJ iShares S&P Mid-Cap 400 Valu | Add +11.5% | 0.03% | +0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.9% | 0.15% | +0.00 |
| ESGE iShares Inc. iShares ESG Awar | Add +0.2% | 0.05% | +0.00 |
| DFAS Dimensional US Small Cap ETF | Add +0.1% | 0.18% | +0.00 |
| SCHA Schwab US Small-Cap ETF | Add +1.4% | 0.04% | +0.00 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +0.8% | 0.30% | +0.00 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +14.3% | 0.01% | +0.00 |
| VNQI Vanguard GLBL Ex-US Real Est | Add +3.5% | 0.28% | +0.00 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +8.1% | 0.01% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +1.9% | 0.12% | +0.00 |
| AGG iShares Core U.S. Aggregate | Add +6.2% | 0.06% | +0.00 |
| GSLC Goldman Activebeta US LC ETF | Add +0.1% | 0.01% | +0.00 |
| TIP iShares Tips Bond ETF | Add +5.1% | 0.01% | 0.00 |
| SCZ iShares MSCI Eafe Small-Cap | Add +0.5% | 0.02% | −0.00 |
| SCHV Schwab US Large-Cap Value | Add +0.0% | 0.04% | −0.00 |
| EEMV iShares MSCI Emg MKT Min Vol | Add +0.5% | 0.02% | −0.00 |
| DFAR Dimensional US Real Est ETF | Add +2.0% | 0.04% | −0.00 |
| BND Vanguard Total Bond Market | Add +0.1% | 0.02% | −0.00 |
| BNDX Vanguard Total Intl Bond ETF | Add +2.6% | 0.05% | −0.00 |
| SCHP Schwab U.S. Tips ETF | Add +2.9% | 0.09% | −0.00 |
| SCHH Schwab US REIT ETF | Add +0.8% | 0.08% | −0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.3% | 11.12% | −0.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 137 | $4.1B | VOO, VO, VEA, SCHX, DFSV |
| Q1 2026 | 127 | $3.6B | VOO, VEA, VO, DFSV, SCHX |
| Q4 2025 | 126 | $3.6B | VOO, VO, VEA, SCHX, DFSV |
| Q3 2025 | 122 | $3.5B | VOO, VO, VEA, SCHX, DFSV |
| Q2 2025 | 124 | $3.3B | VOO, VO, VEA, SCHX, SPY |
| Q1 2025 | 120 | $3.0B | VOO, VO, VEA, SCHX, DFSV |
| Q4 2024 | 112 | $2.9B | VOO, VO, VEA, SCHX, DFSV |
| Q3 2024 | 117 | $2.9B | VOO, VO, VEA, SCHX, DFSV |
| Q2 2024 | 117 | $2.7B | VOO, VO, VEA, SCHX, SPY |
| Q1 2024 | 120 | $2.6B | VOO, VO, VEA, SCHX, SPY |