Phillips Financial Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Phillips Financial Management, LLC reported 307 stock positions worth $1.6 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.1% of the portfolio, followed by Dimensional Core Fixed (DFCF, 7.2%) and Dimensional International (DFIC, 6.3%). Compared with Q3 2025, it opened 22 new positions, sold out of 20, added to 73 and reduced 114. The biggest buy was Dimensional Short Duration (DFSD, shares +16%) and the biggest sale iShares US Equity Factor ETF (LRGF, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- FORT WAYNE, IN
- CIK
- 0001350660
- Portfolio Value
- $1.6B (Q4 2025)
- SEC Filing
- 0001398344-26-001240 ↗ filed Jan 26, 2026
Holdings Value
Holdings 307 stocks · $1.6B
| IVV iShares Core S&P 500 ETF | 11.15% | 252,588 | $173.0M | Reduce -0.3% |
| DFCF Dimensional Core Fixed Inc. | 7.24% | 2,638,266 | $112.3M | Add +11.3% |
| DFIC Dimensional International Co. | 6.33% | 2,852,088 | $98.3M | Add +5.2% |
| DFSD Dimensional Short Duration | 5.46% | 1,766,837 | $84.7M | Add +15.6% |
| DUHP Dimensional US High Profi Et | 3.30% | 1,346,524 | $51.2M | Add +10.1% |
| DFLV Dim US Large Cap Value ETF | 3.23% | 1,464,846 | $50.1M | Add +4.0% |
| IJH iShares Core S&P Midcap ETF | 3.16% | 743,837 | $49.1M | Reduce -3.9% |
| DFAT Dimensional US Target Value | 3.10% | 807,183 | $48.1M | Add +5.7% |
| VOO Vanguard S&P 500 ETF | 2.77% | 68,523 | $43.0M | Reduce -0.5% |
| VXUS Vanguard Total Intl Stock | 2.74% | 564,285 | $42.6M | Reduce -3.5% |
| IXUS iShares Core Intl Stock ETF | 2.60% | 475,862 | $40.3M | Reduce -3.5% |
| DFEM Dimensional Emrg MRKT Core | 2.58% | 1,211,770 | $40.1M | Add +2.8% |
| IVE iShares S&P 500 Value ETF | 2.42% | 176,795 | $37.5M | Reduce -1.3% |
| DFAS Dimensional US Small Cap ETF | 2.09% | 465,214 | $32.4M | Add +6.4% |
| BNDX Vanguard Total Intl Bond ETF | 2.01% | 644,205 | $31.1M | Add +0.8% |
| DFAC Dimensional US Core Equity 2 | 1.89% | 741,779 | $29.4M | Reduce -2.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.89% | 101,126 | $29.3M | Reduce -1.1% |
| AGG iShares Core U.S. Aggregate | 1.55% | 240,317 | $24.0M | Reduce -7.3% |
| DUSB Dimension Ultrashort Fi ETF | 1.48% | 454,478 | $23.0M | Add +11.0% |
| USHY iShares Broad Usd High Yield | 1.39% | 575,158 | $21.5M | Add +4.4% |
| LRGF iShares US Equity Factor ETF | 1.39% | 309,639 | $21.5M | Reduce -13.4% |
| VOOV Vanguard S&P 500 Value ETF | 1.29% | 97,618 | $20.0M | Reduce -1.9% |
| DFAR Dimensional US Real Est ETF | 1.11% | 749,757 | $17.2M | Add +7.7% |
| BND Vanguard Total Bond Market | 0.99% | 208,298 | $15.4M | Reduce -1.8% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.93% | 67,784 | $14.4M | Reduce -0.4% |
| IJS iShares S&P Small-Cap 600 Va | 0.83% | 113,865 | $12.9M | Reduce -7.4% |
| IAGG iShares Intl Aggregate Bond | 0.72% | 222,092 | $11.1M | Reduce -5.1% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.71% | 43,588 | $10.9M | Reduce -1.6% |
| VCIT Vanguard Int-Term Corporate | 0.65% | 120,638 | $10.1M | Reduce -23.0% |
| JPM JPMorgan Chase & Co. | 0.63% | 30,313 | $9.8M | Add +0.4% |
| VNQ Vanguard Real Estate ETF | 0.62% | 108,458 | $9.6M | Reduce -3.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.61% | 13,953 | $9.5M | Reduce -3.5% |
| DFIV Dimensional International Va | 0.61% | 188,509 | $9.4M | Reduce -0.3% |
| USRT iShares Core US REIT ETF | 0.60% | 164,557 | $9.4M | Reduce -0.5% |
| BIV Vanguard Intermediate-Term B | 0.59% | 117,982 | $9.2M | Reduce -4.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.59% | 27,388 | $9.2M | Reduce -0.3% |
| INTF iShares International Equity | 0.56% | 231,887 | $8.8M | Reduce -22.0% |
| VEU Vanguard Ftse All-World Ex-U | 0.55% | 116,054 | $8.5M | Reduce -1.6% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.54% | 171,355 | $8.4M | Reduce -5.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.52% | 42,642 | $8.1M | Reduce -0.4% |
| BSV Vanguard Short-Term Bond ETF | 0.52% | 102,506 | $8.1M | Add +3.6% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.49% | 54,125 | $7.6M | Reduce -3.1% |
| SCHX Schwab US Large-Cap ETF | 0.45% | 262,108 | $7.1M | Add +2.1% |
| EFA iShares MSCI Eafe ETF | 0.45% | 72,648 | $7.0M | Reduce -1.5% |
| AAPL Apple Inc. | 0.40% | 22,792 | $6.2M | Reduce -6.6% |
| MUB iShares National Muni Bond E | 0.39% | 56,907 | $6.1M | Add +12.9% |
| DFAX Dimensional World Ex US Core | 0.38% | 181,190 | $5.9M | Reduce -3.0% |
| DFSV Dimensional US Small Cap Val | 0.38% | 179,220 | $5.9M | Reduce -2.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.34% | 16,897 | $5.3M | Reduce -1.8% |
| VTIP Vanguard Short-Term Tips | 0.32% | 101,721 | $5.0M | Add +2.2% |
| SCHZ Schwab US Aggregate Bond ETF | 0.30% | 196,701 | $4.6M | Add +0.0% |
| SUB iShares Short-Term National | 0.29% | 42,722 | $4.6M | Reduce -2.0% |
| IJR iShares Core S&P Small-Cap E | 0.29% | 37,594 | $4.5M | Reduce -23.6% |
| NVDA Nvidia Corp. | 0.29% | 23,925 | $4.5M | Add +2.1% |
| TIP iShares Tips Bond ETF | 0.28% | 38,953 | $4.3M | Reduce -5.6% |
| ICSH iShares Ultra Short Duration | 0.27% | 82,364 | $4.2M | Add +13.2% |
| IWR iShares Russell Mid-Cap ETF | 0.27% | 42,768 | $4.1M | Add +0.6% |
| MSFT Microsoft Corp. | 0.26% | 8,463 | $4.1M | Reduce -6.1% |
| IWB iShares Russell 1000 ETF | 0.26% | 10,691 | $4.0M | Add +0.1% |
| VIOO Vanguard S&P Small-Cap 600 E | 0.26% | 35,743 | $4.0M | Reduce -0.4% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.24% | 33,810 | $3.8M | No change |
| GNR State Street SPDR S&P Global | 0.24% | 60,518 | $3.8M | Reduce -14.3% |
| LLY Eli Lilly & Co. | 0.22% | 3,183 | $3.4M | Add +2.7% |
| IEFA iShares Core MSCI Eafe ETF | 0.22% | 37,598 | $3.4M | Reduce -1.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.22% | 41,878 | $3.3M | Reduce -2.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.20% | 12,043 | $3.1M | Reduce -3.6% |
| SCHA Schwab US Small-Cap ETF | 0.19% | 104,437 | $3.0M | Reduce -9.7% |
| SMLF iShares US Smallcap Equity F | 0.19% | 39,717 | $3.0M | Reduce -0.7% |
| SCHP Schwab U.S. Tips ETF | 0.19% | 111,978 | $3.0M | Add +2.3% |
| IBDR iShares Ibonds Dec 2026 Term | 0.18% | 117,313 | $2.8M | Add +9.3% |
| VMBS Vanguard Mortgage-Backed Sec | 0.17% | 56,748 | $2.7M | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 0.17% | 8,331 | $2.6M | Reduce -2.2% |
| ATO Atmos Energy Corp. | 0.16% | 15,166 | $2.5M | No change |
| ITOT iShares Core S&P Total U.S. | 0.16% | 16,851 | $2.5M | Add +0.2% |
| AMZN Amazon.com Inc. | 0.15% | 10,321 | $2.4M | Add +8.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.15% | 41,786 | $2.3M | Reduce -4.7% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.14% | 44,512 | $2.2M | Reduce -6.7% |
| GLD SPDR Gold Shares | 0.14% | 5,372 | $2.1M | Reduce -8.9% |
| GOOG Alphabet Inc. Class C | 0.14% | 6,724 | $2.1M | Add +4.2% |
| JNK SS SPDR BB High Yield Bond | 0.13% | 21,222 | $2.1M | Reduce -0.7% |
| RWR SS SPDR Dow Jones REIT ETF | 0.13% | 20,761 | $2.0M | Reduce -1.0% |
| VXF Vanguard Extended Market ETF | 0.13% | 9,713 | $2.0M | No change |
| IBTG iShares Ibonds Dec 2026 Term | 0.13% | 88,291 | $2.0M | Add +27.5% |
| SPIP SS SPDR P Tips ETF | 0.13% | 77,342 | $2.0M | Reduce -2.8% |
| IWD iShares Russell 1000 Value E | 0.13% | 9,335 | $2.0M | Reduce -0.8% |
| STIP iShares 0-5 Year Tips Bond E | 0.12% | 18,760 | $1.9M | Reduce -5.8% |
| IMTB iShares Core 5-10 Year Usd | 0.12% | 41,269 | $1.8M | Add +5.9% |
| TSLA Tesla Inc. | 0.12% | 4,024 | $1.8M | Add +0.3% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.11% | 9,942 | $1.8M | Reduce -9.9% |
| VWO Vanguard Ftse Emerging Marke | 0.11% | 31,453 | $1.7M | Reduce -0.4% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.10% | 11,727 | $1.5M | Reduce -0.2% |
| IBMO iShares Ibonds Dec 2026 Term | 0.10% | 59,217 | $1.5M | No change |
| IBHF iShares Ibond 2026 HY & Inc. | 0.10% | 65,436 | $1.5M | Add +44.0% |
| DISV Dimensional International SM | 0.10% | 39,636 | $1.5M | Reduce -3.5% |
| IBMP iShares Ibonds Dec 2027 Term | 0.09% | 56,799 | $1.4M | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.09% | 2,865 | $1.4M | Add +2.4% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 0.09% | 57,378 | $1.4M | Add +21.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.09% | 2,767 | $1.4M | Add +0.4% |
| IAU iShares Gold Trust | 0.09% | 16,947 | $1.4M | Reduce -1.8% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.09% | 30,419 | $1.4M | Reduce -4.5% |
Portfolio Sells Q3 2025 → Q4 2025
| LRGF iShares US Equity Factor ETF | Reduce -13.4% | 1.39% | −0.24 |
| VCIT Vanguard Int-Term Corporate | Reduce -23.0% | 0.65% | −0.22 |
| IBDQ iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.19 |
| IJH iShares Core S&P Midcap ETF | Reduce -3.9% | 3.16% | −0.17 |
| AGG iShares Core U.S. Aggregate | Reduce -7.3% | 1.55% | −0.17 |
| INTF iShares International Equity | Reduce -22.0% | 0.56% | −0.14 |
| IBTF iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.11 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Sold out | 0.00% | −0.10 |
| IJR iShares Core S&P Small-Cap E | Reduce -23.6% | 0.29% | −0.09 |
| VXUS Vanguard Total Intl Stock | Reduce -3.5% | 2.74% | −0.09 |
| IXUS iShares Core Intl Stock ETF | Reduce -3.5% | 2.60% | −0.09 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -1.1% | 1.89% | −0.09 |
| IBMN iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.09 |
| IAGG iShares Intl Aggregate Bond | Reduce -5.1% | 0.72% | −0.07 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -7.4% | 0.83% | −0.06 |
| VNQ Vanguard Real Estate ETF | Reduce -3.5% | 0.62% | −0.06 |
| BND Vanguard Total Bond Market | Reduce -1.8% | 0.99% | −0.05 |
| MSFT Microsoft Corp. | Reduce -6.1% | 0.26% | −0.04 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -5.0% | 0.54% | −0.04 |
| BIV Vanguard Intermediate-Term B | Reduce -4.0% | 0.59% | −0.04 |
| DFAC Dimensional US Core Equity 2 | Reduce -2.2% | 1.89% | −0.04 |
| USRT iShares Core US REIT ETF | Reduce -0.5% | 0.60% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -0.3% | 11.15% | −0.04 |
| GNR State Street SPDR S&P Global | Reduce -14.3% | 0.24% | −0.03 |
| TIP iShares Tips Bond ETF | Reduce -5.6% | 0.28% | −0.03 |
| ADP Automatic Data Processing | Reduce -47.8% | 0.02% | −0.03 |
| IVE iShares S&P 500 Value ETF | Reduce -1.3% | 2.42% | −0.03 |
| EMR Emerson Electric Co. | Sold out | 0.00% | −0.02 |
| SCHM Schwab US Mid Cap ETF | Reduce -20.4% | 0.08% | −0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.5% | 0.61% | −0.02 |
| SCHA Schwab US Small-Cap ETF | Reduce -9.7% | 0.19% | −0.02 |
| VOOV Vanguard S&P 500 Value ETF | Reduce -1.9% | 1.29% | −0.02 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -49.7% | 0.02% | −0.02 |
| HPQ HP Inc. | Sold out | 0.00% | −0.02 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.02 |
| COP Conocophillips | Sold out | 0.00% | −0.02 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.02 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -3.1% | 0.49% | −0.02 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.01 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.01 |
| GM General Motors Co. | Sold out | 0.00% | −0.01 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.01 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -9.9% | 0.11% | −0.01 |
| BLK BlackRock Inc. | Sold out | 0.00% | −0.01 |
| SUB iShares Short-Term National | Reduce -2.0% | 0.29% | −0.01 |
| LIN Linde PLC | Sold out | 0.00% | −0.01 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -6.7% | 0.14% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -0.5% | 2.77% | −0.01 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -5.8% | 0.12% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| DFSD Dimensional Short Duration | Add +15.6% | 5.46% | +0.60 |
| DFCF Dimensional Core Fixed Inc. | Add +11.3% | 7.24% | +0.55 |
| DFIC Dimensional International Co. | Add +5.2% | 6.33% | +0.47 |
| DUHP Dimensional US High Profi Et | Add +10.1% | 3.30% | +0.25 |
| DFLV Dim US Large Cap Value ETF | Add +4.0% | 3.23% | +0.17 |
| DFAT Dimensional US Target Value | Add +5.7% | 3.10% | +0.17 |
| DFAS Dimensional US Small Cap ETF | Add +6.4% | 2.09% | +0.11 |
| DUSB Dimension Ultrashort Fi ETF | Add +11.0% | 1.48% | +0.11 |
| DFEM Dimensional Emrg MRKT Core | Add +2.8% | 2.58% | +0.09 |
| LLY Eli Lilly & Co. | Add +2.7% | 0.22% | +0.06 |
| MUB iShares National Muni Bond E | Add +12.9% | 0.39% | +0.04 |
| NPO Enpro Inc. | New | 0.04% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +4.2% | 0.14% | +0.03 |
| DE Deere & Co. | New | 0.03% | +0.03 |
| IBHF iShares Ibond 2026 HY & Inc. | Add +44.0% | 0.10% | +0.03 |
| IBTG iShares Ibonds Dec 2026 Term | Add +27.5% | 0.13% | +0.03 |
| ICSH iShares Ultra Short Duration | Add +13.2% | 0.27% | +0.02 |
| AMZN Amazon.com Inc. | Add +8.5% | 0.15% | +0.02 |
| WFC Wells Fargo & Co. | New | 0.02% | +0.02 |
| IBHG iShares Ibonds 2027 HY Inc. | New | 0.01% | +0.01 |
| WM Waste Management Inc. | New | 0.01% | +0.01 |
| AXP American Express Co. | New | 0.01% | +0.01 |
| CRM Salesforce Inc. | New | 0.01% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.01% | +0.01 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +21.1% | 0.09% | +0.01 |
| IBTH iShares Ibonds Dec 2027 Term | Add +102.3% | 0.03% | +0.01 |
| USHY iShares Broad Usd High Yield | Add +4.4% | 1.39% | +0.01 |
| IBTI iShares Ibonds Dec 2028 Term | New | 0.01% | +0.01 |
| DFAR Dimensional US Real Est ETF | Add +7.7% | 1.11% | +0.01 |
| IBDR iShares Ibonds Dec 2026 Term | Add +9.3% | 0.18% | +0.01 |
| JNJ Johnson & Johnson | Add +28.1% | 0.04% | +0.01 |
| KMAY Innovator US SC PB ETF - May | New | 0.01% | +0.01 |
| SCHX Schwab US Large-Cap ETF | Add +2.1% | 0.45% | +0.01 |
| XOM Exxon Mobil Corp. | Add +29.8% | 0.03% | +0.01 |
| WMT Walmart Inc. | Add +6.5% | 0.06% | +0.01 |
| BSV Vanguard Short-Term Bond ETF | Add +3.6% | 0.52% | +0.01 |
| PEP Pepsico Inc. | Add +35.6% | 0.02% | +0.01 |
| LNC Lincoln National Corp. | Add +0.2% | 0.06% | +0.00 |
| IMTB iShares Core 5-10 Year Usd | Add +5.9% | 0.12% | +0.00 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +4.1% | 0.07% | +0.00 |
| STLD Steel Dynamics Inc. | Add +1.2% | 0.02% | +0.00 |
| KO The Coca-Cola Co. | Add +12.2% | 0.02% | +0.00 |
| FICO Fair Isaac Corp. | Add +1.3% | 0.02% | +0.00 |
| KMAR Invtr US S CP PR BFR ETF - M | New | 0.00% | +0.00 |
| C Citigroup Inc. | Add +2.8% | 0.02% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +6.2% | 0.03% | +0.00 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +220.3% | 0.00% | +0.00 |
| SCHF Schwab Intl Equity ETF | Add +25.5% | 0.01% | +0.00 |
| SCHI Schwab 5-10 Year Corporate B | New | 0.00% | +0.00 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | New | 0.00% | +0.00 |
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 |