Rodgers & Associates, LTD

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Rodgers & Associates, LTD reported 105 stock positions worth $970.1 million. Its top holding was Vanguard Mrngstr Val ETF-Aui (VTV) at 7.9% of the portfolio, followed by Vngrd Mrngst SL-CP Val ETF-U (VBR, 6.8%) and Vngrd Mrngstr MD-Cap Val ETF (VOE, 6.6%). Compared with Q2 2025, it opened 4 new positions, sold out of 2, added to 36 and reduced 41. The biggest buy was Van Morst SML-Cap Gro-Usd (VBK, shares +3%) and the biggest sale iShares Russell Mid-Cap Grow (IWP, shares −3%).

Most Recent 13F
Q2 2026
Location
Lancaster, PA
CIK
0001846515
Portfolio Value
$970.1M (Q3 2025)
SEC Filing
0001172661-25-004586 ↗ filed Nov 5, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $778.8M Q1 2024 Q2 2024: $777.2M Q2 2024 Q3 2024: $838.1M Q3 2024 Q4 2024: $839.2M Q4 2024 Q1 2025: $820.2M Q1 2025 Q2 2025: $910.3M Q2 2025 Q3 2025: $970.1M $970.1M Q3 2025 Q4 2025: $987.6M Q4 2025 Q1 2026: $982.2M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 105 stocks · $970.1M
VTV Vanguard Mrngstr Val ETF-Aui 7.86% 409,009 $76.3M Reduce -0.7%
VBR Vngrd Mrngst SL-CP Val ETF-U 6.76% 314,416 $65.6M Reduce -0.8%
VOE Vngrd Mrngstr MD-Cap Val ETF 6.62% 367,997 $64.2M Add +2.8%
IWF iShares Russell 1000 Growth 6.30% 130,393 $61.1M Reduce -4.0%
IWP iShares Russell Mid-Cap Grow 6.02% 410,026 $58.4M Reduce -2.6%
SPYG SS SPDR P S&P 500 Growth ETF 5.14% 476,783 $49.8M Reduce -2.2%
SPSB SS SPDR P St C Corp. ETF 5.04% 1,615,193 $48.9M Add +3.2%
VBK Van Morst SML-Cap Gro-Usd Inc. 4.18% 136,290 $40.6M Add +3.1%
SLYG SS SPDR S&P 600 SC GR ETF 4.10% 421,859 $39.8M Add +1.9%
SLYV SS SPDR S&P 600 SC Val ETF 3.05% 333,944 $29.6M Reduce -0.8%
VOT Vngrd Mrngstr MC GRW ETF-Usd 2.86% 94,339 $27.7M Reduce -0.3%
SPYV SS SPDR P S&P 500 Value ETF 2.81% 492,991 $27.3M Add +1.1%
IWS iShares Russell Mid-Cap Valu 2.47% 171,753 $24.0M Reduce -0.0%
VCSH Vanguard S/T Corp. Bond ETF 2.25% 273,209 $21.8M Add +11.8%
USRT iShares Core US REIT ETF 2.14% 353,977 $20.8M Add +4.8%
VNQ Vanguard Real Estate ETF 2.11% 223,386 $20.4M Add +3.6%
IMCG iShares Morningstar Mid-Cap 1.93% 226,225 $18.7M Add +0.1%
VEA Vanguard Ftse Developed ETF 1.92% 310,945 $18.6M Add +1.2%
MDYV SS SPDR S&P 400 MC Val ETF 1.90% 220,521 $18.4M Add +2.3%
IVW iShares S&P 500 Growth ETF 1.87% 150,318 $18.1M Reduce -0.9%
MDYG SS SPDR S&P 400 MC GR ETF 1.81% 192,085 $17.6M Reduce -1.1%
VUG Vanguard Mrngstar GR ETF-Sui 1.78% 36,014 $17.3M Reduce -3.2%
SPEM State Street SP PTF Em ETF 1.74% 360,306 $16.9M Add +4.0%
SPDW Ste STR SPDR PT DW Eu ETF 1.60% 362,357 $15.5M Reduce -0.2%
PRF Invesco Rafi US 1000 ETF 1.16% 249,813 $11.3M Reduce -1.7%
IJT iShares S&P Small-Cap 600 GR 1.06% 72,816 $10.3M Add +1.2%
IVE iShares S&P 500 Value ETF 1.04% 49,041 $10.1M Add +0.7%
IEFA iShares Core MSCI Eafe ETF 0.87% 96,821 $8.5M Add +2.0%
IMCV iShares Morningstar Mid-Cap 0.87% 105,150 $8.4M Add +4.2%
VONG Vanguard Russell 1000 Growth 0.81% 64,923 $7.8M Add +5.7%
IJK iShares S&P Mid-Cap 400 Grow 0.77% 78,287 $7.5M Reduce -5.4%
VWO Vanguard Ftse Emerging Marke 0.74% 132,603 $7.2M Add +0.8%
IWO iShares Russell 2000 Growth 0.63% 19,211 $6.1M Reduce -1.8%
IJS iShares S&P Small-Cap 600 Va 0.63% 55,171 $6.1M Reduce -0.9%
IEMG iShares Core MSCI Emerging 0.46% 67,516 $4.5M Add +2.2%
IYR iShares US Real Estate ETF 0.40% 39,632 $3.8M Add +3.0%
LOW Lowe's Cos Inc. 0.37% 14,223 $3.6M Reduce -3.1%
ISCV iShares Morningstar Small-Ca 0.30% 43,921 $2.9M Add +2.0%
CZA Invesco Zacks Mid-Cap ETF 0.28% 24,462 $2.7M Reduce -4.5%
VTWV Vanguard Russell 2000 Value 0.27% 16,737 $2.6M Add +0.1%
RWL Invesco S&P 500 Revenue ETF 0.26% 22,624 $2.5M No change
VTI VG Morningstar TS MKT ETF-US 0.26% 7,628 $2.5M Reduce -1.3%
PH Parker Hannifin Corp. 0.24% 3,115 $2.4M No change
EDIV State Street SPDR S&P Emergi 0.22% 54,396 $2.1M Reduce -0.1%
IVV iShares Core S&P 500 ETF 0.21% 3,073 $2.1M Reduce -1.8%
MSFT Microsoft Corp. 0.20% 3,779 $2.0M Reduce -3.7%
DGRO iShares Core Dividend Growth 0.20% 28,719 $2.0M Reduce -0.5%
DON Wisdomtree US Midcap Dividen 0.20% 37,315 $2.0M Reduce -7.4%
IJJ iShares S&P Mid-Cap 400 Valu 0.18% 13,794 $1.8M Add +1.5%
NVDA Nvidia Corp. 0.18% 9,303 $1.7M No change
ILCG iShares Morningstar Growth E 0.18% 16,598 $1.7M Reduce -3.1%
ISCG iShares Morningstar Small-Ca 0.18% 31,402 $1.7M Reduce -1.4%
AAPL Apple Inc. 0.17% 6,551 $1.7M Reduce -2.0%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.13% 4,237 $1.3M No change
ITOT iShares Core S&P Total U.S. 0.12% 8,249 $1.2M Reduce -2.9%
VIOV Vanguard S&P Small-Cap 600 V 0.12% 12,070 $1.1M Add +18.5%
IWN iShares Russell 2000 Value E 0.10% 5,507 $974K Reduce -0.7%
VB Vanguard Most SM-Cap ETF-Usd 0.09% 3,426 $871K No change
ACGL Arch Capital Group Ltd. 0.09% 9,196 $834K No change
IWD iShares Russell 1000 Value E 0.09% 4,048 $824K Reduce -0.6%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.07% 1,763 $709K Reduce -2.5%
VONV Vanguard Russell 1000 Value 0.07% 7,689 $687K Add +41.6%
RPG Invesco S&P 500 Pure Growth 0.07% 14,170 $676K No change
VIOG Vanguard S&P SM Cap 600 GRW 0.07% 5,182 $631K Add +0.8%
VOOG Vanguard S&P 500 Growth ETF 0.06% 1,442 $628K Reduce -16.9%
IVOV Vanguard S&P Mid-Cap 400 Val 0.06% 5,938 $598K Add +12.8%
SDY SS SPDR S&P Dividend ETF 0.05% 3,700 $518K No change
SMMU PIMCO SHRT TRM Muni BND ETF 0.05% 10,192 $515K Add +2.4%
VOOV Vanguard S&P 500 Value ETF 0.05% 2,546 $508K Add +0.4%
COST Costco Wholesale Corp. 0.05% 510 $472K Reduce -2.3%
IVOG Vanguard S&P Mid-Cap 400 Gro 0.05% 3,812 $455K Add +5.7%
TQQQ Proshares Ultrapro QQQ 0.04% 4,202 $434K No change
IWY iShares Russell Top 200 Grow 0.04% 1,513 $414K Reduce -7.6%
QQQ Invesco QQQ Trust Series 1 0.04% 672 $404K Add +0.5%
SUB iShares Short-Term National 0.04% 3,519 $376K Add +10.0%
XLK SS Technology Select Sector 0.04% 1,317 $371K No change
VXF Vanguard Extended Market ETF 0.04% 1,723 $361K No change
VYM Vanguard High DVD Yield ETF 0.04% 2,462 $347K Reduce -7.0%
ORRF Orrstown Finl Services Inc. 0.03% 9,570 $325K Reduce -28.2%
TSLA Tesla Inc. 0.03% 714 $318K No change
AMZN Amazon.com Inc. 0.03% 1,432 $314K No change
DLN Wisdomtree US Largecap Divid 0.03% 3,585 $312K Add +2.1%
PFM Invesco Dividend Achievers E 0.03% 5,894 $299K No change
VOO Vanguard S&P 500 ETF 0.03% 481 $295K No change
T AT&T Inc. 0.03% 10,092 $285K Add +0.9%
FITB Fifth Third Bancorp 0.03% 6,048 $269K No change
ADP Automatic Data Processing 0.03% 918 $269K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.03% 404 $269K No change
VTWG Vanguard Russell 2000 Growth 0.03% 1,142 $267K No change
SO The Southern Co. 0.03% 2,750 $261K Add +0.8%
IJH iShares Core S&P Midcap ETF 0.03% 3,899 $254K Reduce -0.7%
SCHG Schwab US Large-Cap Growth 0.03% 7,768 $248K Add +6.7%
MLM Martin Marietta Materials 0.03% 384 $242K Reduce -11.5%
ACWI iShares MSCI Acwi ETF 0.02% 1,739 $240K No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.02% 1,745 $240K No change
PG The Procter & Gamble Co. 0.02% 1,545 $237K Reduce -7.3%
GLDM SPDR Gold Minishares Trust 0.02% 3,090 $236K New
DFAX Dimensional World Ex US Core 0.02% 6,896 $216K No change
TMO Thermo Fisher Scientific Inc. 0.02% 446 $216K Reduce -10.1%
LHX L3HARRIS Technologies Inc. 0.02% 680 $208K New
EFA iShares MSCI Eafe ETF 0.02% 2,224 $208K Reduce -24.9%
JNJ Johnson & Johnson 0.02% 1,109 $206K New
MO Altria Group Inc. 0.02% 3,105 $205K New
V Visa Inc. Class A 0.02% 598 $204K No change
VLY Valley National Bancorp 0.02% 15,000 $159K No change

Portfolio Sells Q2 2025 → Q3 2025
IWP iShares Russell Mid-Cap Grow Reduce -2.6% 6.02% −0.40
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.7% 7.86% −0.14
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -0.3% 2.86% −0.10
IJK iShares S&P Mid-Cap 400 Grow Reduce -5.4% 0.77% −0.05
IWF iShares Russell 1000 Growth Reduce -4.0% 6.30% −0.04
MDYG SS SPDR S&P 400 MC GR ETF Reduce -1.1% 1.81% −0.04
JJSF J & J Snack Foods Corp. Sold out 0.00% −0.03
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -0.8% 6.76% −0.03
ONEY SS SPDR R1000 Yield Foc ETF Sold out 0.00% −0.02
CZA Invesco Zacks Mid-Cap ETF Reduce -4.5% 0.28% −0.02
IWS iShares Russell Mid-Cap Valu Reduce -0.0% 2.47% −0.02
DON Wisdomtree US Midcap Dividen Reduce -7.4% 0.20% −0.02
SPDW Ste STR SPDR PT DW Eu ETF Reduce -0.2% 1.60% −0.02
PRF Invesco Rafi US 1000 ETF Reduce -1.7% 1.16% −0.02
ORRF Orrstown Finl Services Inc. Reduce -28.2% 0.03% −0.01
MSFT Microsoft Corp. Reduce -3.7% 0.20% −0.01
VUG Vanguard Mrngstar GR ETF-Sui Reduce -3.2% 1.78% −0.01
VOOG Vanguard S&P 500 Growth ETF Reduce -16.9% 0.06% −0.01
EDIV State Street SPDR S&P Emergi Reduce -0.1% 0.22% −0.01
COST Costco Wholesale Corp. Reduce -2.3% 0.05% −0.01
EFA iShares MSCI Eafe ETF Reduce -24.9% 0.02% −0.01
PG The Procter & Gamble Co. Reduce -7.3% 0.02% −0.00
ILCG iShares Morningstar Growth E Reduce -3.1% 0.18% −0.00
VYM Vanguard High DVD Yield ETF Reduce -7.0% 0.04% −0.00
ITOT iShares Core S&P Total U.S. Reduce -2.9% 0.12% −0.00
IWD iShares Russell 1000 Value E Reduce -0.6% 0.09% −0.00
IWY iShares Russell Top 200 Grow Reduce -7.6% 0.04% −0.00
IVV iShares Core S&P 500 ETF Reduce -1.8% 0.21% −0.00
DGRO iShares Core Dividend Growth Reduce -0.5% 0.20% −0.00
MLM Martin Marietta Materials Reduce -11.5% 0.03% −0.00
IJH iShares Core S&P Midcap ETF Reduce -0.7% 0.03% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -1.3% 0.26% +0.00
TMO Thermo Fisher Scientific Inc. Reduce -10.1% 0.02% +0.00
MGK Vngrd Mrgstr MG CP GR ETF-Ui Reduce -2.5% 0.07% +0.00
ISCG iShares Morningstar Small-Ca Reduce -1.4% 0.18% +0.00
IWN iShares Russell 2000 Value E Reduce -0.7% 0.10% +0.00
LOW Lowe's Cos Inc. Reduce -3.1% 0.37% +0.01
IWO iShares Russell 2000 Growth Reduce -1.8% 0.63% +0.02
IJS iShares S&P Small-Cap 600 Va Reduce -0.9% 0.63% +0.02
AAPL Apple Inc. Reduce -2.0% 0.17% +0.02
SPYG SS SPDR P S&P 500 Growth ETF Reduce -2.2% 5.14% +0.03
IVW iShares S&P 500 Growth ETF Reduce -0.9% 1.87% +0.04
SLYV SS SPDR S&P 600 SC Val ETF Reduce -0.8% 3.05% +0.10

Portfolio Buys Q2 2025 → Q3 2025
VBK Van Morst SML-Cap Gro-Usd Inc. Add +3.1% 4.18% +0.16
VOE Vngrd Mrngstr MD-Cap Val ETF Add +2.8% 6.62% +0.15
VCSH Vanguard S/T Corp. Bond ETF Add +11.8% 2.25% +0.12
SPEM State Street SP PTF Em ETF Add +4.0% 1.74% +0.11
VONG Vanguard Russell 1000 Growth Add +5.7% 0.81% +0.07
SLYG SS SPDR S&P 600 SC GR ETF Add +1.9% 4.10% +0.07
USRT iShares Core US REIT ETF Add +4.8% 2.14% +0.04
IMCV iShares Morningstar Mid-Cap Add +4.2% 0.87% +0.03
VWO Vanguard Ftse Emerging Marke Add +0.8% 0.74% +0.03
GLDM SPDR Gold Minishares Trust New 0.02% +0.02
IEMG iShares Core MSCI Emerging Add +2.2% 0.46% +0.02
VIOV Vanguard S&P Small-Cap 600 V Add +18.5% 0.12% +0.02
LHX L3HARRIS Technologies Inc. New 0.02% +0.02
JNJ Johnson & Johnson New 0.02% +0.02
MO Altria Group Inc. New 0.02% +0.02
VONV Vanguard Russell 1000 Value Add +41.6% 0.07% +0.02
MDYV SS SPDR S&P 400 MC Val ETF Add +2.3% 1.90% +0.02
VTWV Vanguard Russell 2000 Value Add +0.1% 0.27% +0.01
ISCV iShares Morningstar Small-Ca Add +2.0% 0.30% +0.01
IJT iShares S&P Small-Cap 600 GR Add +1.2% 1.06% +0.01
SPYV SS SPDR P S&P 500 Value ETF Add +1.1% 2.81% +0.01
IVOV Vanguard S&P Mid-Cap 400 Val Add +12.8% 0.06% +0.01
SCHG Schwab US Large-Cap Growth Add +6.7% 0.03% +0.00
IVOG Vanguard S&P Mid-Cap 400 Gro Add +5.7% 0.05% +0.00
SUB iShares Short-Term National Add +10.0% 0.04% +0.00
IEFA iShares Core MSCI Eafe ETF Add +2.0% 0.87% +0.00
QQQ Invesco QQQ Trust Series 1 Add +0.5% 0.04% +0.00
DLN Wisdomtree US Largecap Divid Add +2.1% 0.03% +0.00
VIOG Vanguard S&P SM Cap 600 GRW Add +0.8% 0.07% +0.00
IJJ iShares S&P Mid-Cap 400 Valu Add +1.5% 0.18% 0.00
VOOV Vanguard S&P 500 Value ETF Add +0.4% 0.05% −0.00
SO The Southern Co. Add +0.8% 0.03% −0.00
IVE iShares S&P 500 Value ETF Add +0.7% 1.04% −0.00
SMMU PIMCO SHRT TRM Muni BND ETF Add +2.4% 0.05% −0.00
T AT&T Inc. Add +0.9% 0.03% −0.00
VEA Vanguard Ftse Developed ETF Add +1.2% 1.92% −0.00
VNQ Vanguard Real Estate ETF Add +3.6% 2.11% −0.00
IYR iShares US Real Estate ETF Add +3.0% 0.40% −0.00
IMCG iShares Morningstar Mid-Cap Add +0.1% 1.93% −0.06
SPSB SS SPDR P St C Corp. ETF Add +3.2% 5.04% −0.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$1.1BVTV, VBR, VOE, IWP, IWF
Q1 2026 101$982.2MVTV, VOE, VBR, IWP, IWF
Q4 2025 107$987.6MVTV, VBR, VOE, IWF, IWP
Q3 2025 105$970.1MVTV, VBR, VOE, IWF, IWP
Q2 2025 103$910.3MVTV, VBR, VOE, IWP, IWF
Q1 2025 97$820.2MVTV, VBR, VOE, IWP, SPSB
Q4 2024 98$839.2MVTV, VBR, VOE, IWP, IWF
Q3 2024 95$838.1MVTV, VBR, VOE, IWP, IWF
Q2 2024 92$777.2MVTV, VBR, VOE, IWF, IWP
Q1 2024 91$778.8MVTV, VBR, IWP, VOE, IWF