TFC Financial Management, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), TFC Financial Management, Inc. reported 962 stock positions worth $797.3 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, 9.7%). Compared with Q3 2025, it opened 72 new positions, sold out of 108, added to 172 and reduced 148. The biggest buy was iShares Core MSCI Dev MKTS (IDEV, shares +0%) and the biggest sale Tesla (TSLA, shares −85%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001827844
- Portfolio Value
- $797.3M (Q4 2025)
- SEC Filing
- 0001398344-26-001127 ↗ filed Jan 23, 2026
Holdings Value
Holdings 962 stocks · $797.3M
| IVV iShares Core S&P 500 ETF | 28.47% | 331,468 | $227.0M | Reduce -1.0% |
| IDEV iShares Core MSCI Dev MKTS | 14.49% | 1,401,008 | $115.6M | Add +0.4% |
| SHY iShares 1-3 Year Treasury Bo | 9.69% | 932,479 | $77.2M | Add +3.9% |
| IEMG iShares Core MSCI Emerging | 6.49% | 770,352 | $51.8M | Reduce -0.4% |
| JQUA JPMorgan US Quality Factor | 5.79% | 731,319 | $46.2M | Add +1.6% |
| DFUV Dimensional US Marketwide Va | 5.36% | 917,022 | $42.7M | Reduce -1.6% |
| DFAT Dimensional US Target Value | 3.17% | 424,669 | $25.3M | Reduce -1.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.89% | 47,966 | $15.1M | Add +2.8% |
| AAPL Apple Inc. | 1.57% | 46,077 | $12.5M | Reduce -10.8% |
| NUEM Nuveen ESG Emerging Markets | 1.31% | 292,752 | $10.4M | Add +1.0% |
| JNJ Johnson & Johnson | 1.29% | 49,830 | $10.3M | Reduce -0.0% |
| BSV Vanguard Short-Term Bond ETF | 1.05% | 106,307 | $8.4M | Add +3.1% |
| MSFT Microsoft Corp. | 1.00% | 16,426 | $7.9M | Add +1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.83% | 13,224 | $6.6M | Add +0.3% |
| XOM Exxon Mobil Corp. | 0.61% | 40,591 | $4.9M | Reduce -0.3% |
| NVDA Nvidia Corp. | 0.58% | 24,589 | $4.6M | Add +18.7% |
| MRK Merck & Co. Inc. | 0.51% | 38,593 | $4.1M | Add +3.2% |
| BND Vanguard Total Bond Market | 0.50% | 53,368 | $4.0M | Add +3.7% |
| ITOT iShares Core S&P Total U.S. | 0.48% | 25,651 | $3.8M | Reduce -1.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.47% | 12,782 | $3.8M | Reduce -1.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.47% | 5 | $3.8M | No change |
| ACN Accenture PLC Class A | 0.41% | 12,221 | $3.3M | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 0.38% | 9,566 | $3.0M | Add +5.4% |
| IWB iShares Russell 1000 ETF | 0.36% | 7,764 | $2.9M | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.32% | 9,926 | $2.6M | Add +1.0% |
| JSTC Adasina Social Justice GLB | 0.32% | 124,344 | $2.5M | Reduce -0.3% |
| ONB Old National Bancorp | 0.30% | 108,400 | $2.4M | Reduce -1.8% |
| QUAL iShares MSCI USA Quality Fac | 0.30% | 11,875 | $2.4M | Reduce -0.4% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 7,369 | $2.3M | No change |
| AMZN Amazon.com Inc. | 0.27% | 9,392 | $2.2M | Reduce -31.6% |
| JPM JPMorgan Chase & Co. | 0.27% | 6,622 | $2.1M | Reduce -4.3% |
| VXF Vanguard Extended Market ETF | 0.26% | 9,903 | $2.1M | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.25% | 5,892 | $2.0M | Add +66.8% |
| VOO Vanguard S&P 500 ETF | 0.24% | 3,092 | $1.9M | Add +19.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.24% | 2,843 | $1.9M | Reduce -1.4% |
| LHX L3HARRIS Technologies Inc. | 0.22% | 6,109 | $1.8M | No change |
| PWRD TCW Transform Systems ETF | 0.21% | 17,291 | $1.7M | No change |
| EXPE Expedia Group Inc. | 0.20% | 5,522 | $1.6M | Reduce -6.5% |
| IJR iShares Core S&P Small-Cap E | 0.19% | 12,805 | $1.5M | No change |
| MA Mastercard Inc. Class A | 0.19% | 2,612 | $1.5M | Reduce -3.3% |
| IEFA iShares Core MSCI Eafe ETF | 0.19% | 16,573 | $1.5M | No change |
| EFA iShares MSCI Eafe ETF | 0.18% | 15,344 | $1.5M | Add +15.0% |
| GOOG Alphabet Inc. Class C | 0.18% | 4,660 | $1.5M | Reduce -12.2% |
| META Meta Platforms Inc. Class A | 0.16% | 1,977 | $1.3M | Reduce -3.9% |
| PG The Procter & Gamble Co. | 0.16% | 8,930 | $1.3M | Add +10.7% |
| SHOP Shopify Inc. Class A | 0.15% | 7,596 | $1.2M | Reduce -7.2% |
| SUSA iShares ESG Optimized MSCI U | 0.15% | 8,690 | $1.2M | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.15% | 4,164 | $1.2M | Add +0.6% |
| WMT Walmart Inc. | 0.15% | 10,701 | $1.2M | Add +16.3% |
| MMM 3M Co. | 0.14% | 7,125 | $1.1M | No change |
| IWF iShares Russell 1000 Growth | 0.14% | 2,377 | $1.1M | Reduce -8.9% |
| GEV GE Vernova Inc. | 0.14% | 1,687 | $1.1M | Reduce -3.5% |
| COST Costco Wholesale Corp. | 0.13% | 1,212 | $1.0M | Add +32.6% |
| DDOG Datadog Inc. Class A | 0.13% | 7,551 | $1.0M | No change |
| NUDM Nuveen ESG Intl Devel MRK Eq | 0.13% | 27,676 | $1.0M | Add +14.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.12% | 5,019 | $959K | Add +0.1% |
| LLY Eli Lilly & Co. | 0.12% | 860 | $924K | Add +44.5% |
| DVY iShares Select Dividend ETF | 0.11% | 5,935 | $838K | Add +65.0% |
| DHS Wisdomtree US High Dividend | 0.10% | 8,172 | $832K | Add +87.2% |
| ABT Abbott Laboratories | 0.10% | 6,547 | $820K | No change |
| ABBV Abbvie Inc. | 0.10% | 3,554 | $812K | Reduce -10.1% |
| HD Home Depot Inc. | 0.10% | 2,326 | $800K | Add +22.0% |
| ADP Automatic Data Processing | 0.10% | 3,000 | $772K | Add +54.2% |
| CVNA Carvana Co. | 0.09% | 1,781 | $752K | Reduce -6.5% |
| ISRG Intuitive Surgical Inc. | 0.09% | 1,317 | $746K | No change |
| AVGO Broadcom Inc. | 0.09% | 2,115 | $732K | Reduce -7.0% |
| V Visa Inc. Class A | 0.08% | 1,811 | $635K | Add +19.9% |
| MO Altria Group Inc. | 0.08% | 10,846 | $625K | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.08% | 3,909 | $600K | Reduce -4.4% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.07% | 15,015 | $570K | Add +0.0% |
| PM Philip Morris International | 0.07% | 3,461 | $555K | Reduce -0.3% |
| IDV iShares International Select | 0.07% | 13,738 | $542K | Add +39.3% |
| IWR iShares Russell Mid-Cap ETF | 0.07% | 5,605 | $540K | No change |
| TSLA Tesla Inc. | 0.06% | 1,145 | $515K | Reduce -84.7% |
| GS Goldman Sachs Group Inc. | 0.06% | 585 | $514K | Add +0.3% |
| CL Colgate-Palmolive Co. | 0.06% | 6,284 | $497K | Reduce -0.1% |
| GPC Genuine Parts Co. | 0.06% | 3,925 | $483K | Reduce -0.7% |
| AMSC American Superconductor Corp. | 0.06% | 16,741 | $482K | Reduce -0.6% |
| IQLT iShares MSCI International Q | 0.06% | 10,598 | $482K | Reduce -1.1% |
| CI The Cigna Group | 0.06% | 1,728 | $476K | Reduce -0.1% |
| CRM Salesforce Inc. | 0.06% | 1,743 | $462K | Add +24.4% |
| FTEC Fidelity MSCI Info Tech Indx | 0.06% | 2,038 | $458K | No change |
| MDLZ Mondelez International Inc. Class A | 0.06% | 8,167 | $440K | Reduce -0.3% |
| RTX RTX Corp. | 0.05% | 2,310 | $424K | Add +31.7% |
| BNL Broadstone Net Lease Inc. | 0.05% | 24,116 | $419K | No change |
| SPGI S&P Global Inc. | 0.05% | 782 | $409K | Add +29.9% |
| CSCO Cisco Systems Inc. | 0.05% | 5,162 | $398K | Add +31.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.05% | 3,425 | $390K | Reduce -0.1% |
| CVX Chevron Corp. | 0.05% | 2,516 | $384K | Add +0.4% |
| IXUS iShares Core Intl Stock ETF | 0.05% | 4,529 | $383K | Add +3279.8% |
| FFIN First Finl Bankshares Inc. | 0.05% | 12,194 | $364K | No change |
| IGM iShares Expanded Tech Sector | 0.05% | 2,810 | $363K | Reduce -6.3% |
| NEE Nextera Energy Inc. | 0.04% | 4,447 | $357K | Add +43.6% |
| UNH Unitedhealth Group Inc. | 0.04% | 1,076 | $355K | Add +159.9% |
| XLK SS Technology Select Sector | 0.04% | 2,415 | $348K | No change |
| CTVA Corteva Inc. | 0.04% | 5,169 | $346K | Reduce -5.4% |
| ADI Analog Devices Inc. | 0.04% | 1,274 | $346K | Add +21.6% |
| PEP Pepsico Inc. | 0.04% | 2,399 | $344K | Add +88.8% |
| MCD McDonald's Corp. | 0.04% | 1,091 | $333K | Add +10.5% |
| IJH iShares Core S&P Midcap ETF | 0.04% | 4,877 | $322K | Reduce -13.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $4 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 1 | $4 | No change |
Total filed on the 13F, all lines: $797.3M.
Portfolio Sells Q3 2025 → Q4 2025
| TSLA Tesla Inc. | Reduce -84.7% | 0.06% | −0.36 |
| IVV iShares Core S&P 500 ETF | Reduce -1.0% | 28.47% | −0.23 |
| ISTB iShares Core 1-5 Year Usd Bo | Sold out | 0.00% | −0.12 |
| AAPL Apple Inc. | Reduce -10.8% | 1.57% | −0.12 |
| AMZN Amazon.com Inc. | Reduce -31.6% | 0.27% | −0.11 |
| DFAC Dimensional US Core Equity 2 | Reduce -88.0% | 0.02% | −0.11 |
| AMSC American Superconductor Corp. | Reduce -0.6% | 0.06% | −0.07 |
| IEMG iShares Core MSCI Emerging | Reduce -0.4% | 6.49% | −0.04 |
| VYM Vanguard High DVD Yield ETF | Reduce -88.7% | 0.00% | −0.03 |
| META Meta Platforms Inc. Class A | Reduce -3.9% | 0.16% | −0.03 |
| DFAT Dimensional US Target Value | Reduce -1.0% | 3.17% | −0.03 |
| AXON Axon Enterprise Inc. | Reduce -99.2% | 0.00% | −0.02 |
| IYW iShares Ustechnology ETF | Sold out | 0.00% | −0.02 |
| RSPT Invesco S&P 500 Equal Weight | Reduce -67.4% | 0.01% | −0.02 |
| ABBV Abbvie Inc. | Reduce -10.1% | 0.10% | −0.02 |
| IWF iShares Russell 1000 Growth | Reduce -8.9% | 0.14% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -92.9% | 0.00% | −0.01 |
| VEA Vanguard Ftse Developed ETF | Reduce -68.2% | 0.01% | −0.01 |
| NOW ServiceNow Inc. | Reduce -30.2% | 0.02% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -4.3% | 0.27% | −0.01 |
| SMR Nuscale Power Corp. | Reduce -6.9% | 0.01% | −0.01 |
| BX Blackstone Inc. | Reduce -72.1% | 0.00% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.3% | 0.06% | −0.01 |
| KO The Coca-Cola Co. | Reduce -24.2% | 0.04% | −0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -81.2% | 0.00% | −0.01 |
| CVLT Commvault Systems Inc. | Reduce -99.8% | 0.00% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -3.3% | 0.19% | −0.01 |
| GPC Genuine Parts Co. | Reduce -0.7% | 0.06% | −0.01 |
| CARR Carrier Global Corp. | Reduce -16.6% | 0.02% | −0.01 |
| JSTC Adasina Social Justice GLB | Reduce -0.3% | 0.32% | −0.01 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Reduce -16.5% | 0.04% | −0.01 |
| AMLP Alerian MLP ETF | Sold out | 0.00% | −0.01 |
| ONB Old National Bancorp | Reduce -1.8% | 0.30% | −0.01 |
| VZ Verizon Communications Inc. | Reduce -41.3% | 0.01% | −0.01 |
| HAS Hasbro Inc. | Reduce -95.3% | 0.00% | −0.01 |
| IJH iShares Core S&P Midcap ETF | Reduce -13.4% | 0.04% | −0.01 |
| HYT BlackRock Corp. Hi YLD | Sold out | 0.00% | −0.01 |
| TOST Toast Inc. Class A | Reduce -80.5% | 0.00% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -17.1% | 0.03% | −0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -14.6% | 0.03% | −0.01 |
| ANET Arista Networks Inc. | Reduce -9.6% | 0.02% | −0.01 |
| ITOT iShares Core S&P Total U.S. | Reduce -1.1% | 0.48% | −0.01 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.01 |
| DUK Duke Energy Corp. | Reduce -45.9% | 0.01% | −0.01 |
| HTFL Heartflow Inc. | Sold out | 0.00% | −0.01 |
| PFF iShares Preferred & Income S | Sold out | 0.00% | −0.00 |
| MSTR Strategy Inc. | Reduce -6.8% | 0.00% | −0.00 |
| AVGO Broadcom Inc. | Reduce -7.0% | 0.09% | −0.00 |
| XCHYX Calamos Convert & High Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| IDEV iShares Core MSCI Dev MKTS | Add +0.4% | 14.49% | +0.16 |
| SHY iShares 1-3 Year Treasury Bo | Add +3.9% | 9.69% | +0.14 |
| MRK Merck & Co. Inc. | Add +3.2% | 0.51% | +0.11 |
| VTI VG Morningstar TS MKT ETF-US | Add +66.8% | 0.25% | +0.10 |
| GOOGL Alphabet Inc. Class A | Add +5.4% | 0.38% | +0.09 |
| NVDA Nvidia Corp. | Add +18.7% | 0.58% | +0.08 |
| LLY Eli Lilly & Co. | Add +44.5% | 0.12% | +0.06 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +2.8% | 1.89% | +0.05 |
| DHS Wisdomtree US High Dividend | Add +87.2% | 0.10% | +0.05 |
| IXUS iShares Core Intl Stock ETF | Add +3279.8% | 0.05% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +19.9% | 0.24% | +0.04 |
| DVY iShares Select Dividend ETF | Add +65.0% | 0.11% | +0.04 |
| NZAC State Street SPDR MSCI Acwi | New | 0.04% | +0.04 |
| DFAW Dimensional World Eqty ETF | New | 0.04% | +0.04 |
| RSP Invesco S&P 500 Equal Weight | New | 0.03% | +0.03 |
| ACN Accenture PLC Class A | Add +1.6% | 0.41% | +0.03 |
| JHMM John Hancock Multi Fact Mid | New | 0.03% | +0.03 |
| WMT Walmart Inc. | Add +16.3% | 0.15% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +159.9% | 0.04% | +0.03 |
| EFA iShares MSCI Eafe ETF | Add +15.0% | 0.18% | +0.03 |
| IGV iShares Expanded Tech-Softwa | New | 0.02% | +0.02 |
| VIG Vanguard Dividend Apprec ETF | Add +2873.3% | 0.02% | +0.02 |
| ADP Automatic Data Processing | Add +54.2% | 0.10% | +0.02 |
| COST Costco Wholesale Corp. | Add +32.6% | 0.13% | +0.02 |
| ESML iShares ESG Aware MSCI USA S | New | 0.02% | +0.02 |
| IDV iShares International Select | Add +39.3% | 0.07% | +0.02 |
| PEP Pepsico Inc. | Add +88.8% | 0.04% | +0.02 |
| LMT Lockheed Martin Corp. | Add +4062.5% | 0.02% | +0.02 |
| CSX CSX Corp. | Add +4181.8% | 0.02% | +0.02 |
| CSCO Cisco Systems Inc. | Add +31.9% | 0.05% | +0.02 |
| RTX RTX Corp. | Add +31.7% | 0.05% | +0.02 |
| CRM Salesforce Inc. | Add +24.4% | 0.06% | +0.02 |
| NEE Nextera Energy Inc. | Add +43.6% | 0.04% | +0.01 |
| JEPQ JPM Nasdaq Equity Premium | Add +93.6% | 0.03% | +0.01 |
| ESGE iShares Inc. iShares ESG Awar | Add +336.1% | 0.02% | +0.01 |
| VFC VF Corp. | New | 0.01% | +0.01 |
| EXPD Expeditors Intl Wash Inc. | Add +18500.0% | 0.01% | +0.01 |
| SPGI S&P Global Inc. | Add +29.9% | 0.05% | +0.01 |
| V Visa Inc. Class A | Add +19.9% | 0.08% | +0.01 |
| ITW Illinois Tool Works | Add +93.6% | 0.03% | +0.01 |
| ADI Analog Devices Inc. | Add +21.6% | 0.04% | +0.01 |
| GD General Dynamics Corp. | Add +2666.7% | 0.01% | +0.01 |
| NUDM Nuveen ESG Intl Devel MRK Eq | Add +14.2% | 0.13% | +0.01 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +131.0% | 0.01% | +0.01 |
| BSV Vanguard Short-Term Bond ETF | Add +3.1% | 1.05% | +0.01 |
| GLD SPDR Gold Shares | Add +82.9% | 0.02% | +0.01 |
| LIN Linde PLC | Add +70.0% | 0.02% | +0.01 |
| CNI Canadian Natl Railway Co. | New | 0.01% | +0.01 |
| AEP American Electric Power | Add +89.8% | 0.01% | +0.01 |
| EMR Emerson Electric Co. | Add +23.5% | 0.04% | +0.01 |
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 |