Phillips Financial Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Phillips Financial Management, LLC reported 305 stock positions worth $1.5 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.2% of the portfolio, followed by Dimensional Core Fixed (DFCF, 6.7%) and Dimensional International (DFIC, 5.9%). Compared with Q2 2025, it opened 34 new positions, sold out of 8, added to 104 and reduced 88. The biggest buy was Dimensional Core Fixed (DFCF, shares +16%) and the biggest sale iShares Core U.S. Aggregate (AGG, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- FORT WAYNE, IN
- CIK
- 0001350660
- Portfolio Value
- $1.5B (Q3 2025)
- SEC Filing
- 0001398344-25-019723 ↗ filed Oct 24, 2025
Holdings Value
Holdings 305 stocks · $1.5B
| IVV iShares Core S&P 500 ETF | 11.18% | 253,307 | $169.5M | Add +2.8% |
| DFCF Dimensional Core Fixed Inc. | 6.69% | 2,370,174 | $101.3M | Add +16.3% |
| DFIC Dimensional International Co. | 5.87% | 2,711,685 | $88.9M | Add +6.5% |
| DFSD Dimensional Short Duration | 4.86% | 1,528,742 | $73.7M | Add +12.7% |
| IJH iShares Core S&P Midcap ETF | 3.33% | 773,965 | $50.5M | Reduce -0.8% |
| DFLV Dim US Large Cap Value ETF | 3.06% | 1,408,468 | $46.3M | Add +7.1% |
| DUHP Dimensional US High Profi Et | 3.05% | 1,222,533 | $46.2M | Add +13.3% |
| DFAT Dimensional US Target Value | 2.93% | 763,549 | $44.4M | Add +7.8% |
| VXUS Vanguard Total Intl Stock | 2.83% | 584,887 | $43.0M | Reduce -1.6% |
| VOO Vanguard S&P 500 ETF | 2.78% | 68,849 | $42.2M | Add +0.1% |
| IXUS iShares Core Intl Stock ETF | 2.69% | 493,141 | $40.7M | Reduce -3.2% |
| DFEM Dimensional Emrg MRKT Core | 2.49% | 1,179,182 | $37.8M | Add +5.7% |
| IVE iShares S&P 500 Value ETF | 2.44% | 179,185 | $37.0M | Reduce -1.0% |
| BNDX Vanguard Total Intl Bond ETF | 2.09% | 639,257 | $31.6M | Add +5.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.98% | 102,238 | $30.0M | Reduce -0.9% |
| DFAS Dimensional US Small Cap ETF | 1.97% | 437,153 | $29.9M | Add +8.1% |
| DFAC Dimensional US Core Equity 2 | 1.93% | 758,644 | $29.3M | Reduce -0.4% |
| AGG iShares Core U.S. Aggregate | 1.71% | 259,104 | $26.0M | Reduce -5.0% |
| LRGF iShares US Equity Factor ETF | 1.63% | 357,409 | $24.7M | Reduce -5.6% |
| USHY iShares Broad Usd High Yield | 1.37% | 550,954 | $20.8M | Add +5.3% |
| DUSB Dimension Ultrashort Fi ETF | 1.37% | 409,538 | $20.8M | Add +40.5% |
| VOOV Vanguard S&P 500 Value ETF | 1.31% | 99,490 | $19.8M | Reduce -4.8% |
| DFAR Dimensional US Real Est ETF | 1.10% | 696,187 | $16.6M | Add +11.0% |
| BND Vanguard Total Bond Market | 1.04% | 212,078 | $15.8M | Reduce -2.5% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.94% | 68,043 | $14.2M | Reduce -0.4% |
| IJS iShares S&P Small-Cap 600 Va | 0.90% | 122,940 | $13.6M | Reduce -4.9% |
| VCIT Vanguard Int-Term Corporate | 0.87% | 156,701 | $13.2M | Reduce -9.2% |
| IAGG iShares Intl Aggregate Bond | 0.79% | 233,952 | $12.0M | Reduce -7.1% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.71% | 44,278 | $10.8M | Reduce -0.5% |
| INTF iShares International Equity | 0.70% | 297,126 | $10.7M | Reduce -6.7% |
| VNQ Vanguard Real Estate ETF | 0.68% | 112,418 | $10.3M | Reduce -4.7% |
| USRT iShares Core US REIT ETF | 0.64% | 165,394 | $9.7M | Reduce -2.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.64% | 14,457 | $9.6M | Add +62.5% |
| BIV Vanguard Intermediate-Term B | 0.63% | 122,838 | $9.6M | Reduce -1.8% |
| JPM JPMorgan Chase & Co. | 0.63% | 30,194 | $9.5M | Add +4.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.59% | 27,470 | $9.0M | Reduce -1.5% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.58% | 180,454 | $8.8M | Reduce -4.6% |
| DFIV Dimensional International Va | 0.58% | 189,159 | $8.7M | Add +1.7% |
| VEU Vanguard Ftse All-World Ex-U | 0.56% | 117,967 | $8.4M | Reduce -6.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.53% | 42,825 | $8.0M | Add +19.1% |
| BSV Vanguard Short-Term Bond ETF | 0.51% | 98,895 | $7.8M | Reduce -3.9% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.51% | 55,865 | $7.7M | Reduce -0.7% |
| EFA iShares MSCI Eafe ETF | 0.45% | 73,764 | $6.9M | Add +22.2% |
| SCHX Schwab US Large-Cap ETF | 0.45% | 256,585 | $6.8M | Reduce -1.1% |
| AAPL Apple Inc. | 0.41% | 24,412 | $6.2M | Add +10.5% |
| DFAX Dimensional World Ex US Core | 0.39% | 186,832 | $5.9M | Add +0.0% |
| DFSV Dimensional US Small Cap Val | 0.39% | 184,067 | $5.9M | Add +1.0% |
| IJR iShares Core S&P Small-Cap E | 0.39% | 49,174 | $5.8M | Reduce -6.8% |
| MUB iShares National Muni Bond E | 0.35% | 50,406 | $5.4M | Reduce -8.3% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.35% | 17,201 | $5.3M | Reduce -1.0% |
| VTIP Vanguard Short-Term Tips | 0.33% | 99,554 | $5.0M | Reduce -2.4% |
| MSFT Microsoft Corp. | 0.31% | 9,013 | $4.7M | Add +39.5% |
| SUB iShares Short-Term National | 0.31% | 43,587 | $4.7M | Add +5.0% |
| SCHZ Schwab US Aggregate Bond ETF | 0.30% | 196,657 | $4.6M | Reduce -0.8% |
| TIP iShares Tips Bond ETF | 0.30% | 41,271 | $4.6M | Reduce -4.9% |
| NVDA Nvidia Corp. | 0.29% | 23,432 | $4.4M | Add +35.4% |
| GNR State Street SPDR S&P Global | 0.28% | 70,589 | $4.2M | Add +1.1% |
| IWR iShares Russell Mid-Cap ETF | 0.27% | 42,514 | $4.1M | Add +13.3% |
| VIOO Vanguard S&P Small-Cap 600 E | 0.26% | 35,882 | $4.0M | Reduce -0.4% |
| IWB iShares Russell 1000 ETF | 0.26% | 10,679 | $3.9M | Reduce -4.3% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.25% | 33,810 | $3.7M | Reduce -14.6% |
| ICSH iShares Ultra Short Duration | 0.24% | 72,756 | $3.7M | Reduce -11.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.23% | 42,901 | $3.4M | Reduce -42.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.22% | 38,072 | $3.3M | Reduce -4.6% |
| SCHA Schwab US Small-Cap ETF | 0.21% | 115,610 | $3.2M | Reduce -0.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.21% | 12,489 | $3.2M | Reduce -0.1% |
| SMLF iShares US Smallcap Equity F | 0.20% | 39,979 | $3.0M | Reduce -5.4% |
| SCHP Schwab U.S. Tips ETF | 0.19% | 109,433 | $2.9M | Add +14.1% |
| IBDQ iShares Ibonds Dec 2025 Term | 0.19% | 112,989 | $2.8M | Add +19.8% |
| VMBS Vanguard Mortgage-Backed Sec | 0.18% | 56,879 | $2.7M | No change |
| IBDR iShares Ibonds Dec 2026 Term | 0.17% | 107,313 | $2.6M | Add +20.0% |
| ATO Atmos Energy Corp. | 0.17% | 15,166 | $2.6M | Add +0.1% |
| ITOT iShares Core S&P Total U.S. | 0.16% | 16,816 | $2.4M | Reduce -4.2% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.16% | 47,682 | $2.4M | Reduce -15.7% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.16% | 43,849 | $2.4M | Reduce -6.7% |
| LLY Eli Lilly & Co. | 0.16% | 3,100 | $2.4M | Add +138.3% |
| RWR SS SPDR Dow Jones REIT ETF | 0.14% | 20,973 | $2.1M | Reduce -0.2% |
| GLD SPDR Gold Shares | 0.14% | 5,897 | $2.1M | Add +1.6% |
| JNK SS SPDR BB High Yield Bond | 0.14% | 21,375 | $2.1M | Reduce -1.8% |
| SPIP SS SPDR P Tips ETF | 0.14% | 79,542 | $2.1M | Reduce -5.8% |
| AMZN Amazon.com Inc. | 0.14% | 9,510 | $2.1M | Add +17.9% |
| GOOGL Alphabet Inc. Class A | 0.14% | 8,522 | $2.1M | Add +8.4% |
| STIP iShares 0-5 Year Tips Bond E | 0.14% | 19,909 | $2.1M | Reduce -2.7% |
| VXF Vanguard Extended Market ETF | 0.13% | 9,713 | $2.0M | No change |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.13% | 11,031 | $1.9M | Add +1.3% |
| IWD iShares Russell 1000 Value E | 0.13% | 9,407 | $1.9M | Reduce -7.5% |
| TSLA Tesla Inc. | 0.12% | 4,010 | $1.8M | Add +3.6% |
| IBTF iShares Ibonds Dec 2025 Term | 0.11% | 74,079 | $1.7M | Add +35.6% |
| IMTB iShares Core 5-10 Year Usd | 0.11% | 38,975 | $1.7M | Reduce -1.2% |
| VWO Vanguard Ftse Emerging Marke | 0.11% | 31,575 | $1.7M | Add +22.4% |
| SCHM Schwab US Mid Cap ETF | 0.11% | 54,701 | $1.6M | Reduce -3.2% |
| IBTG iShares Ibonds Dec 2026 Term | 0.10% | 69,243 | $1.6M | Add +41.3% |
| GOOG Alphabet Inc. Class C | 0.10% | 6,455 | $1.6M | Add +33.4% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.10% | 11,749 | $1.5M | Reduce -1.1% |
| IBMO iShares Ibonds Dec 2026 Term | 0.10% | 59,217 | $1.5M | No change |
| IBHE iShares Ibonds 2025 H/Y Inc. | 0.10% | 65,432 | $1.5M | Add +44.0% |
| DISV Dimensional International SM | 0.10% | 41,058 | $1.5M | Reduce -5.1% |
| IBMP iShares Ibonds Dec 2027 Term | 0.10% | 56,799 | $1.4M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.09% | 2,757 | $1.4M | Add +18.9% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.09% | 31,845 | $1.4M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| AGG iShares Core U.S. Aggregate | Reduce -5.0% | 1.71% | −0.25 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -42.2% | 0.23% | −0.20 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.8% | 3.33% | −0.18 |
| IXUS iShares Core Intl Stock ETF | Reduce -3.2% | 2.69% | −0.17 |
| VCIT Vanguard Int-Term Corporate | Reduce -9.2% | 0.87% | −0.17 |
| VXUS Vanguard Total Intl Stock | Reduce -1.6% | 2.83% | −0.14 |
| IAGG iShares Intl Aggregate Bond | Reduce -7.1% | 0.79% | −0.14 |
| LRGF iShares US Equity Factor ETF | Reduce -5.6% | 1.63% | −0.13 |
| IVE iShares S&P 500 Value ETF | Reduce -1.0% | 2.44% | −0.13 |
| VOOV Vanguard S&P 500 Value ETF | Reduce -4.8% | 1.31% | −0.12 |
| BND Vanguard Total Bond Market | Reduce -2.5% | 1.04% | −0.12 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -0.9% | 1.98% | −0.11 |
| INTF iShares International Equity | Reduce -6.7% | 0.70% | −0.09 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -4.6% | 0.58% | −0.09 |
| VNQ Vanguard Real Estate ETF | Reduce -4.7% | 0.68% | −0.08 |
| BSV Vanguard Short-Term Bond ETF | Reduce -3.9% | 0.51% | −0.07 |
| BIV Vanguard Intermediate-Term B | Reduce -1.8% | 0.63% | −0.07 |
| MUB iShares National Muni Bond E | Reduce -8.3% | 0.35% | −0.06 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -6.6% | 0.56% | −0.06 |
| ICSH iShares Ultra Short Duration | Reduce -11.2% | 0.24% | −0.06 |
| IVOO Vanguard S&P Mid-Cap 400 ETF | Reduce -14.6% | 0.25% | −0.06 |
| USRT iShares Core US REIT ETF | Reduce -2.3% | 0.64% | −0.05 |
| DFAC Dimensional US Core Equity 2 | Reduce -0.4% | 1.93% | −0.05 |
| TIP iShares Tips Bond ETF | Reduce -4.9% | 0.30% | −0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -15.7% | 0.16% | −0.04 |
| VTIP Vanguard Short-Term Tips | Reduce -2.4% | 0.33% | −0.04 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -4.9% | 0.90% | −0.04 |
| IJR iShares Core S&P Small-Cap E | Reduce -6.8% | 0.39% | −0.03 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -0.8% | 0.30% | −0.03 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.4% | 0.94% | −0.03 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -0.7% | 0.51% | −0.03 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -18.0% | 0.08% | −0.03 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -6.7% | 0.16% | −0.03 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -4.6% | 0.22% | −0.02 |
| SPIP SS SPDR P Tips ETF | Reduce -5.8% | 0.14% | −0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.5% | 0.59% | −0.02 |
| IWB iShares Russell 1000 ETF | Reduce -4.3% | 0.26% | −0.02 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -2.7% | 0.14% | −0.02 |
| IWD iShares Russell 1000 Value E | Reduce -7.5% | 0.13% | −0.02 |
| JNK SS SPDR BB High Yield Bond | Reduce -1.8% | 0.14% | −0.02 |
| SCHX Schwab US Large-Cap ETF | Reduce -1.1% | 0.45% | −0.01 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Reduce -0.5% | 0.71% | −0.01 |
| VIOV Vanguard S&P Small-Cap 600 V | Reduce -16.1% | 0.07% | −0.01 |
| SMLF iShares US Smallcap Equity F | Reduce -5.4% | 0.20% | −0.01 |
| DFAW Dimensional World Eqty ETF | Reduce -36.2% | 0.02% | −0.01 |
| IMTB iShares Core 5-10 Year Usd | Reduce -1.2% | 0.11% | −0.01 |
| NFLX Netflix Inc. | Reduce -0.7% | 0.04% | −0.01 |
| ITOT iShares Core S&P Total U.S. | Reduce -4.2% | 0.16% | −0.01 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -1.0% | 0.35% | −0.01 |
| EMGF iShares Emerging Markets Equ | Reduce -9.4% | 0.08% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| DFCF Dimensional Core Fixed Inc. | Add +16.3% | 6.69% | +0.44 |
| DUSB Dimension Ultrashort Fi ETF | Add +40.5% | 1.37% | +0.30 |
| DUHP Dimensional US High Profi Et | Add +13.3% | 3.05% | +0.26 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +62.5% | 0.64% | +0.24 |
| DFAT Dimensional US Target Value | Add +7.8% | 2.93% | +0.16 |
| DFSD Dimensional Short Duration | Add +12.7% | 4.86% | +0.13 |
| DFIC Dimensional International Co. | Add +6.5% | 5.87% | +0.12 |
| DFAS Dimensional US Small Cap ETF | Add +8.1% | 1.97% | +0.11 |
| DFLV Dim US Large Cap Value ETF | Add +7.1% | 3.06% | +0.10 |
| DFEM Dimensional Emrg MRKT Core | Add +5.7% | 2.49% | +0.09 |
| NVDA Nvidia Corp. | Add +35.4% | 0.29% | +0.09 |
| LLY Eli Lilly & Co. | Add +138.3% | 0.16% | +0.08 |
| AAPL Apple Inc. | Add +10.5% | 0.41% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +2.8% | 11.18% | +0.08 |
| MSFT Microsoft Corp. | Add +39.5% | 0.31% | +0.07 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +19.1% | 0.53% | +0.07 |
| EFA iShares MSCI Eafe ETF | Add +22.2% | 0.45% | +0.06 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +233.9% | 0.09% | +0.06 |
| GOOG Alphabet Inc. Class C | Add +33.4% | 0.10% | +0.04 |
| GOOGL Alphabet Inc. Class A | Add +8.4% | 0.14% | +0.04 |
| ADP Automatic Data Processing | Add +221.2% | 0.05% | +0.03 |
| IWM iShares Russell 2000 ETF | Add +1233.3% | 0.03% | +0.03 |
| TSLA Tesla Inc. | Add +3.6% | 0.12% | +0.03 |
| DFAR Dimensional US Real Est ETF | Add +11.0% | 1.10% | +0.03 |
| IBHF iShares Ibond 2026 HY & Inc. | Add +78.6% | 0.07% | +0.03 |
| AVGO Broadcom Inc. | Add +53.0% | 0.07% | +0.03 |
| XLK SS Technology Select Sector | Add +135.2% | 0.04% | +0.02 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Add +44.0% | 0.10% | +0.02 |
| IBTG iShares Ibonds Dec 2026 Term | Add +41.3% | 0.10% | +0.02 |
| EMR Emerson Electric Co. | New | 0.02% | +0.02 |
| JPM JPMorgan Chase & Co. | Add +4.4% | 0.63% | +0.02 |
| IBTF iShares Ibonds Dec 2025 Term | Add +35.6% | 0.11% | +0.02 |
| GE General Electric | New | 0.02% | +0.02 |
| IWR iShares Russell Mid-Cap ETF | Add +13.3% | 0.27% | +0.02 |
| VWO Vanguard Ftse Emerging Marke | Add +22.4% | 0.11% | +0.02 |
| BAC Bank of America Corp. | New | 0.02% | +0.02 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +48.1% | 0.08% | +0.02 |
| TXN Texas Instruments Inc. | New | 0.02% | +0.02 |
| MCD McDonald's Corp. | New | 0.02% | +0.02 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.02% | +0.02 |
| META Meta Platforms Inc. Class A | Add +41.3% | 0.08% | +0.02 |
| COF Capital One Financial Corp. | New | 0.02% | +0.02 |
| HPQ HP Inc. | New | 0.02% | +0.02 |
| NOW ServiceNow Inc. | New | 0.02% | +0.02 |
| COP Conocophillips | New | 0.02% | +0.02 |
| AIG American International Group | New | 0.02% | +0.02 |
| APP AppLovin Corp. Class A | New | 0.02% | +0.02 |
| PEP Pepsico Inc. | New | 0.02% | +0.02 |
| FDX FedEx Corp. | New | 0.02% | +0.02 |
| IBDQ iShares Ibonds Dec 2025 Term | Add +19.8% | 0.19% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 291 | $1.4B | IVV, DFCF, DFIC, DFSD, DFLV |
| Q1 2026 | 283 | $1.4B | IVV, DFCF, DFIC, DFSD, DFLV |
| Q4 2025 | 307 | $1.6B | IVV, DFCF, DFIC, DFSD, DUHP |
| Q3 2025 | 305 | $1.5B | IVV, DFCF, DFIC, DFSD, IJH |
| Q2 2025 | 279 | $1.4B | IVV, DFCF, DFIC, DFSD, IJH |
| Q1 2025 | 258 | $1.3B | IVV, DFCF, DFIC, DFSD, IJH |
| Q4 2024 | 259 | $1.3B | IVV, DFCF, DFSD, DFIC, IJH |
| Q3 2024 | 275 | $1.3B | IVV, IJH, IXUS, IVE, DFCF |
| Q2 2024 | 271 | $1.2B | IVV, IJH, IXUS, IVE, VXUS |
| Q1 2024 | 261 | $1.2B | IVV, IJH, IXUS, IVE, AGG |