TFC Financial Management, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), TFC Financial Management, Inc. reported 972 stock positions worth $730.0 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 28.5% of the portfolio, followed by iShares Core MSCI Dev MKTS (IDEV, 14.5%) and iShares 1-3 Year Treasury Bo (SHY, 10.0%). Compared with Q1 2025, it opened 147 new positions, sold out of 134, added to 217 and reduced 194. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +14%) and the biggest sale Dimensional US Target Value (DFAT, shares −18%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001827844
- Portfolio Value
- $730.0M (Q2 2025)
- SEC Filing
- 0001398344-25-013951 ↗ filed Jul 29, 2025
Holdings Value
Holdings 972 stocks · $730.0M
| IVV iShares Core S&P 500 ETF | 28.47% | 334,735 | $207.8M | Add +13.9% |
| IDEV iShares Core MSCI Dev MKTS | 14.55% | 1,396,512 | $106.2M | Reduce -1.4% |
| SHY iShares 1-3 Year Treasury Bo | 10.02% | 882,610 | $73.1M | Add +0.2% |
| IEMG iShares Core MSCI Emerging | 6.34% | 770,764 | $46.3M | Add +1.2% |
| JQUA JPMorgan US Quality Factor | 5.79% | 704,042 | $42.3M | Add +7.6% |
| DFUV Dimensional US Marketwide Va | 5.45% | 941,019 | $39.8M | Reduce -0.1% |
| DFAT Dimensional US Target Value | 3.18% | 430,787 | $23.2M | Reduce -18.4% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.71% | 43,874 | $12.5M | Add +55.8% |
| AAPL Apple Inc. | 1.33% | 47,481 | $9.7M | Reduce -0.2% |
| NUEM Nuveen ESG Emerging Markets | 1.31% | 288,843 | $9.6M | Add +2.4% |
| BSV Vanguard Short-Term Bond ETF | 1.13% | 104,533 | $8.2M | Add +0.3% |
| JNJ Johnson & Johnson | 1.06% | 50,792 | $7.8M | Reduce -0.2% |
| MSFT Microsoft Corp. | 1.05% | 15,339 | $7.6M | Add +1.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.90% | 13,497 | $6.6M | Reduce -2.4% |
| XOM Exxon Mobil Corp. | 0.61% | 41,431 | $4.5M | Reduce -1.3% |
| BND Vanguard Total Bond Market | 0.52% | 51,793 | $3.8M | Reduce -3.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.50% | 5 | $3.6M | No change |
| ACN Accenture PLC Class A | 0.49% | 12,031 | $3.6M | Add +1.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.48% | 12,010 | $3.5M | Reduce -4.8% |
| ITOT iShares Core S&P Total U.S. | 0.48% | 25,996 | $3.5M | Add +0.2% |
| ONB Old National Bancorp | 0.45% | 153,400 | $3.3M | No change |
| MRK Merck & Co. Inc. | 0.40% | 37,329 | $3.0M | Reduce -4.3% |
| AMZN Amazon.com Inc. | 0.38% | 12,764 | $2.8M | Reduce -2.8% |
| NVDA Nvidia Corp. | 0.38% | 17,354 | $2.7M | Reduce -9.1% |
| IWB iShares Russell 1000 ETF | 0.36% | 7,764 | $2.6M | No change |
| TSLA Tesla Inc. | 0.35% | 7,943 | $2.5M | Reduce -2.4% |
| JSTC Adasina Social Justice GLB | 0.33% | 121,825 | $2.4M | Add +0.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.32% | 9,895 | $2.3M | Reduce -10.7% |
| QUAL iShares MSCI USA Quality Fac | 0.30% | 11,929 | $2.2M | Add +13.3% |
| JPM JPMorgan Chase & Co. | 0.26% | 6,622 | $1.9M | Reduce -0.0% |
| GE General Electric filed as GE AEROSPACE | 0.26% | 7,412 | $1.9M | Add +0.0% |
| VXF Vanguard Extended Market ETF | 0.26% | 9,897 | $1.9M | Add +0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.23% | 2,710 | $1.7M | Reduce -4.5% |
| GOOGL Alphabet Inc. Class A | 0.22% | 8,921 | $1.6M | Add +0.0% |
| PWRD TCW Transform Systems ETF | 0.21% | 17,291 | $1.6M | Reduce -1.7% |
| MA Mastercard Inc. Class A | 0.21% | 2,760 | $1.6M | Reduce -6.5% |
| LHX L3HARRIS Technologies Inc. | 0.21% | 6,109 | $1.5M | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 0.20% | 1,978 | $1.5M | Add +52.9% |
| IJR iShares Core S&P Small-Cap E | 0.20% | 13,123 | $1.4M | Reduce -14.5% |
| VOO Vanguard S&P 500 ETF | 0.20% | 2,521 | $1.4M | Add +11.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.19% | 16,973 | $1.4M | Reduce -0.6% |
| PG The Procter & Gamble Co. | 0.17% | 7,861 | $1.3M | Reduce -10.4% |
| EFA iShares MSCI Eafe ETF | 0.16% | 13,344 | $1.2M | Add +98.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.16% | 4,137 | $1.2M | Reduce -0.2% |
| MMM 3M Co. | 0.16% | 7,438 | $1.1M | Add +0.4% |
| SUSA iShares ESG Optimized MSCI U | 0.15% | 8,690 | $1.1M | New |
| EXPE Expedia Group Inc. | 0.15% | 6,470 | $1.1M | Reduce -0.1% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.15% | 15,011 | $1.1M | Add +0.1% |
| IWF iShares Russell 1000 Growth | 0.14% | 2,475 | $1.1M | No change |
| ABT Abbott Laboratories | 0.14% | 7,580 | $1.0M | Add +1.9% |
| DDOG Datadog Inc. Class A | 0.14% | 7,551 | $1.0M | Add +0.0% |
| GEV GE Vernova Inc. | 0.13% | 1,815 | $960K | Add +0.3% |
| SHOP Shopify Inc. Class A | 0.13% | 8,181 | $944K | No change |
| ISTB iShares Core 1-5 Year Usd Bo | 0.13% | 19,350 | $941K | New |
| DFAC Dimensional US Core Equity 2 | 0.13% | 26,015 | $932K | Add +0.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.12% | 5,011 | $888K | Reduce -7.4% |
| WMT Walmart Inc. | 0.12% | 8,876 | $868K | Add +0.3% |
| NUDM Nuveen ESG Intl Devel MRK Eq | 0.12% | 24,240 | $860K | New |
| VTI VG Morningstar TS MKT ETF-US | 0.12% | 2,806 | $853K | Add +10.1% |
| COST Costco Wholesale Corp. | 0.12% | 848 | $839K | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 0.11% | 4,436 | $787K | Add +3.4% |
| ABBV Abbvie Inc. | 0.10% | 4,056 | $753K | Reduce -1.5% |
| HD Home Depot Inc. | 0.10% | 1,974 | $724K | Add +2.6% |
| ISRG Intuitive Surgical Inc. | 0.10% | 1,317 | $716K | No change |
| CVNA Carvana Co. | 0.09% | 1,904 | $642K | Reduce -1.1% |
| MO Altria Group Inc. | 0.09% | 10,867 | $637K | Add +0.2% |
| PM Philip Morris International | 0.08% | 3,398 | $619K | Add +0.5% |
| AMSC American Superconductor Corp. | 0.08% | 16,731 | $614K | No change |
| ADP Automatic Data Processing | 0.08% | 1,944 | $600K | Reduce -9.5% |
| CL Colgate-Palmolive Co. | 0.08% | 6,459 | $587K | No change |
| AVGO Broadcom Inc. | 0.08% | 2,115 | $583K | Reduce -6.2% |
| CI The Cigna Group | 0.08% | 1,729 | $572K | No change |
| MDLZ Mondelez International Inc. Class A | 0.08% | 8,214 | $554K | Add +0.3% |
| V Visa Inc. Class A | 0.07% | 1,510 | $536K | Reduce -0.2% |
| IWR iShares Russell Mid-Cap ETF | 0.07% | 5,605 | $515K | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.07% | 4,163 | $514K | Reduce -31.9% |
| FFIN First Finl Bankshares Inc. | 0.07% | 13,735 | $494K | No change |
| GPC Genuine Parts Co. | 0.07% | 3,946 | $479K | Reduce -2.8% |
| DVY iShares Select Dividend ETF | 0.06% | 3,567 | $474K | Add +2.3% |
| IQLT iShares MSCI International Q | 0.06% | 10,725 | $464K | Reduce -5.5% |
| DHS Wisdomtree US High Dividend | 0.06% | 4,780 | $459K | Add +3.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.06% | 3,427 | $425K | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 0.06% | 581 | $411K | Add +2.1% |
| CTVA Corteva Inc. | 0.06% | 5,466 | $407K | Add +0.1% |
| FTEC Fidelity MSCI Info Tech Indx | 0.06% | 2,038 | $402K | No change |
| BNL Broadstone Net Lease Inc. | 0.05% | 24,116 | $387K | Add +1.8% |
| CRM Salesforce Inc. | 0.05% | 1,396 | $381K | Add +0.4% |
| QUS SS SPDR MSCI U Stratfact ETF | 0.05% | 2,318 | $378K | Add +94.3% |
| LLY Eli Lilly & Co. | 0.05% | 456 | $356K | Reduce -10.4% |
| CVX Chevron Corp. | 0.05% | 2,453 | $351K | Reduce -2.0% |
| IDV iShares International Select | 0.05% | 9,860 | $340K | No change |
| VWO Vanguard Ftse Emerging Marke | 0.05% | 6,815 | $337K | No change |
| IGM iShares Expanded Tech Sector | 0.05% | 3,000 | $337K | No change |
| WM Waste Management Inc. | 0.05% | 1,443 | $330K | No change |
| SYK Stryker Corp. | 0.04% | 811 | $321K | Add +47.5% |
| KO The Coca-Cola Co. | 0.04% | 4,532 | $321K | Add +9.4% |
| SPGI S&P Global Inc. | 0.04% | 602 | $317K | No change |
| KKR KKR & Co. Inc. | 0.04% | 2,370 | $315K | Reduce -0.8% |
| IJH iShares Core S&P Midcap ETF | 0.04% | 5,036 | $312K | Reduce -14.6% |
| TMUS T-Mobile US Inc. | 0.04% | 1,299 | $310K | Add +0.6% |
Portfolio Sells Q1 2025 → Q2 2025
| DFAT Dimensional US Target Value | Reduce -18.4% | 3.18% | −0.98 |
| DFUV Dimensional US Marketwide Va | Reduce -0.1% | 5.45% | −0.49 |
| IDEV iShares Core MSCI Dev MKTS | Reduce -1.4% | 14.55% | −0.39 |
| AAPL Apple Inc. | Reduce -0.2% | 1.33% | −0.28 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.4% | 0.90% | −0.23 |
| JNJ Johnson & Johnson | Reduce -0.2% | 1.06% | −0.23 |
| XOM Exxon Mobil Corp. | Reduce -1.3% | 0.61% | −0.15 |
| MRK Merck & Co. Inc. | Reduce -4.3% | 0.40% | −0.13 |
| BND Vanguard Total Bond Market | Reduce -3.3% | 0.52% | −0.08 |
| PG The Procter & Gamble Co. | Reduce -10.4% | 0.17% | −0.06 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -10.7% | 0.32% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -14.5% | 0.20% | −0.05 |
| TJX TJX Companies Inc. | Reduce -31.9% | 0.07% | −0.04 |
| GVI iShares Intermediate Governm | Reduce -97.0% | 0.00% | −0.04 |
| MET Metlife Inc. | Reduce -67.4% | 0.02% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -6.5% | 0.21% | −0.04 |
| SHV iShares 0-1 Year Treasury Bo | Sold out | 0.00% | −0.03 |
| UNH Unitedhealth Group Inc. | Reduce -32.8% | 0.02% | −0.03 |
| ABBV Abbvie Inc. | Reduce -1.5% | 0.10% | −0.03 |
| SO The Southern Co. | Reduce -80.2% | 0.01% | −0.02 |
| SHLD Global X Defense Tech ETF | Sold out | 0.00% | −0.02 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -44.7% | 0.03% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -7.4% | 0.12% | −0.02 |
| ADP Automatic Data Processing | Reduce -9.5% | 0.08% | −0.02 |
| ED Consolidated Edison Inc. | Reduce -99.3% | 0.00% | −0.02 |
| EXPE Expedia Group Inc. | Reduce -0.1% | 0.15% | −0.02 |
| CVX Chevron Corp. | Reduce -2.0% | 0.05% | −0.02 |
| MDT Medtronic PLC | Reduce -74.6% | 0.00% | −0.02 |
| LLY Eli Lilly & Co. | Reduce -10.4% | 0.05% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -53.2% | 0.01% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.5% | 0.23% | −0.01 |
| PPL PPL Corp. | Reduce -98.2% | 0.00% | −0.01 |
| REGN Regeneron Pharmaceuticals | Reduce -49.5% | 0.01% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -86.6% | 0.00% | −0.01 |
| RY Royal Bank of Canada | Sold out | 0.00% | −0.01 |
| EUAD Select Stoxx Eur Aer DE ETF | Sold out | 0.00% | −0.01 |
| AVDV Avantis Intl S/C Value ETF | Sold out | 0.00% | −0.01 |
| IJH iShares Core S&P Midcap ETF | Reduce -14.6% | 0.04% | −0.01 |
| TD Toronto-Dominion Bank | Sold out | 0.00% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -0.4% | 0.02% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -0.8% | 0.12% | −0.01 |
| GPC Genuine Parts Co. | Reduce -2.8% | 0.07% | −0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -14.6% | 0.03% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.6% | 0.02% | −0.01 |
| V Visa Inc. Class A | Reduce -0.2% | 0.07% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.0% | 0.02% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -11.8% | 0.03% | −0.01 |
| ADBE Adobe Inc. | Reduce -83.8% | 0.00% | −0.01 |
| DD Dupont DE Nemours Inc. | Reduce -0.2% | 0.03% | −0.01 |
| CLX Clorox Company | Reduce -0.8% | 0.02% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| IVV iShares Core S&P 500 ETF | Add +13.9% | 28.47% | +3.20 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +55.8% | 1.71% | +0.61 |
| MSFT Microsoft Corp. | Add +1.6% | 1.05% | +0.18 |
| SUSA iShares ESG Optimized MSCI U | New | 0.15% | +0.15 |
| JQUA JPMorgan US Quality Factor | Add +7.6% | 5.79% | +0.14 |
| ISTB iShares Core 1-5 Year Usd Bo | New | 0.13% | +0.13 |
| NUDM Nuveen ESG Intl Devel MRK Eq | New | 0.12% | +0.12 |
| META Meta Platforms Inc. Class A | Add +52.9% | 0.20% | +0.09 |
| EFA iShares MSCI Eafe ETF | Add +98.7% | 0.16% | +0.08 |
| NUEM Nuveen ESG Emerging Markets | Add +2.4% | 1.31% | +0.05 |
| GEV GE Vernova Inc. | Add +0.3% | 0.13% | +0.05 |
| IEMG iShares Core MSCI Emerging | Add +1.2% | 6.34% | +0.05 |
| GE General Electric | Add +0.0% | 0.26% | +0.03 |
| VTWO Vanguard Russell 2000 ETF | New | 0.03% | +0.03 |
| AGG iShares Core U.S. Aggregate | New | 0.03% | +0.03 |
| DDOG Datadog Inc. Class A | Add +0.0% | 0.14% | +0.02 |
| IXUS iShares Core Intl Stock ETF | New | 0.02% | +0.02 |
| QUAL iShares MSCI USA Quality Fac | Add +13.3% | 0.30% | +0.02 |
| QUS SS SPDR MSCI U Stratfact ETF | Add +94.3% | 0.05% | +0.02 |
| TTD Trade Desk Inc./the Class A | Add +0.1% | 0.15% | +0.02 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.02% | +0.02 |
| VOO Vanguard S&P 500 ETF | Add +11.8% | 0.20% | +0.02 |
| CHGX Stance Sustainable Beta ETF | New | 0.02% | +0.02 |
| SMR Nuscale Power Corp. | Add +14.0% | 0.02% | +0.01 |
| SUB iShares Short-Term National | New | 0.01% | +0.01 |
| SYK Stryker Corp. | Add +47.5% | 0.04% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +71.0% | 0.03% | +0.01 |
| SPOT Spotify Technology SA | Add +10500.0% | 0.01% | +0.01 |
| RSP Invesco S&P 500 Equal Weight | New | 0.01% | +0.01 |
| JHMM John Hancock Multi Fact Mid | New | 0.01% | +0.01 |
| GLD SPDR Gold Shares | Add +160.0% | 0.02% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +10.1% | 0.12% | +0.01 |
| UL Unilever PLC | Add +929.1% | 0.01% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +2.1% | 0.06% | +0.01 |
| QLTY GMO U.S. Quality ETF | New | 0.01% | +0.01 |
| RKT Rocket Cos Inc. Class A | New | 0.01% | +0.01 |
| UBER Uber Technologies Inc. | Add +277.0% | 0.01% | +0.01 |
| PEP Pepsico Inc. | Add +59.3% | 0.03% | +0.01 |
| SSB Southstate Bank Corp. | Add +49800.0% | 0.01% | +0.01 |
| VRT Vertiv Holdings Co. Class A | Add +1.0% | 0.02% | +0.01 |
| FLOT iShares Floating Rate Bond E | New | 0.01% | +0.01 |
| GOOG Alphabet Inc. Class C | Add +3.4% | 0.11% | +0.01 |
| NOW ServiceNow Inc. | Add +1.2% | 0.04% | +0.01 |
| VTIP Vanguard Short-Term Tips | New | 0.00% | +0.00 |
| NET Cloudflare Inc. Class A | Add +0.7% | 0.01% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +526.7% | 0.01% | +0.00 |
| GOOGL Alphabet Inc. Class A | Add +0.0% | 0.22% | +0.00 |
| XLK SS Technology Select Sector | Add +0.1% | 0.04% | +0.00 |
| NFLX Netflix Inc. | Add +6.3% | 0.01% | +0.00 |
| CTVA Corteva Inc. | Add +0.1% | 0.06% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,033 | $902.3M | IVV, IDEV, SHY, IEMG, JQUA |
| Q1 2026 | 997 | $811.6M | IVV, IDEV, SHY, IEMG, JQUA |
| Q4 2025 | 962 | $797.3M | IVV, IDEV, SHY, IEMG, JQUA |
| Q3 2025 | 996 | $780.5M | IVV, IDEV, SHY, IEMG, JQUA |
| Q2 2025 | 972 | $730.0M | IVV, IDEV, SHY, IEMG, JQUA |
| Q1 2025 | 958 | $653.2M | IVV, IDEV, SHY, IEMG, DFUV |
| Q4 2024 | 978 | $632.3M | IVV, IDEV, SHY, DFUV, JQUA |
| Q3 2024 | 1,003 | $632.2M | IVV, IDEV, SHY, DFUV, JQUA |
| Q2 2024 | 968 | $570.1M | IVV, IDEV, DFUV, JQUA, DFAT |
| Q1 2024 | 904 | $562.9M | IVV, IDEV, DFUV, JQUA, DFAT |