Wharton Business Group, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Wharton Business Group, LLC reported 135 stock positions worth $2.1 billion. Its top holding was Vanguard Ultra Short Bond Et (VUSB) at 10.7% of the portfolio, followed by iShares MSCI USA Quality Fac (QUAL, 10.0%) and iShares MSCI USA Value Facto (VLUE, 5.8%). Compared with Q4 2023, it opened 2 new positions, added to 24 and reduced 42. The biggest buy was Vanguard Ftse All-World Ex-U (VEU, shares +64%) and the biggest sale iShares MSCI Eafe Min Vol Fa (EFAV, shares −19%).

Most Recent 13F
Q2 2026
Location
MALVERN, PA
CIK
0001513126
Portfolio Value
$2.1B (Q1 2024)
SEC Filing
0001513126-24-000001 ↗ filed May 13, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $2.1B $2.1B Q1 2024 Q2 2024: $1.9B Q2 2024 Q3 2024: $2.2B Q3 2024 Q4 2024: $2.2B Q4 2024 Q1 2025: $2.2B Q1 2025 Q2 2025: $2.4B Q2 2025 Q3 2025: $2.3B Q3 2025 Q4 2025: $2.6B Q4 2025 Q1 2026: $2.6B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 135 stocks · $2.1B
VUSB Vanguard Ultra Short Bond Et 10.70% 4,492,109 $222.6M Add +3.1%
QUAL iShares MSCI USA Quality Fac 10.05% 1,271,332 $208.9M Reduce -1.1%
VLUE iShares MSCI USA Value Facto 5.77% 1,108,211 $120.0M Reduce -8.3%
EEMV iShares MSCI Emg MKT Min Vol 5.58% 2,050,785 $116.1M Reduce -2.1%
EFAV iShares MSCI Eafe Min Vol Fa 5.51% 1,616,055 $114.5M Reduce -19.1%
VYM Vanguard High DVD Yield ETF 4.33% 744,491 $90.1M Reduce -3.7%
KBWB Invesco KBW Bank ETF 4.11% 1,590,765 $85.4M Reduce -3.5%
AAPL Apple Inc. 3.71% 449,308 $77.0M Reduce -0.7%
IEMG iShares Core MSCI Emerging 3.70% 1,490,384 $76.9M Add +0.6%
XLK SS Technology Select Sector 2.93% 292,735 $61.0M Reduce -3.8%
IVV iShares Core S&P 500 ETF 2.42% 95,900 $50.4M Reduce -0.5%
IFRA iShares US Infrastructure 2.26% 1,081,445 $46.9M Add +30.5%
BINC iShares Flex I A ETF-Usd Inc. 2.25% 890,595 $46.7M Add +48.9%
RSP Invesco S&P 500 Equal Weight 1.91% 234,583 $39.7M Add +0.1%
JPM JPMorgan Chase & Co. 1.90% 196,979 $39.5M Reduce -1.1%
VEU Vanguard Ftse All-World Ex-U 1.88% 665,418 $39.0M Add +63.5%
IWY iShares Russell Top 200 Grow 1.87% 199,751 $39.0M Reduce -11.5%
XLV SS Health Care Select Sector 1.68% 236,114 $34.9M Reduce -9.9%
BRK.B Berkshire Hathaway Inc. Class B 1.47% 72,726 $30.6M Reduce -1.0%
HDV iShares Core High Dividend E 1.23% 232,644 $25.6M Add +17.7%
GS Goldman Sachs Group Inc. 1.18% 58,712 $24.5M No change
VIG Vanguard Dividend Apprec ETF 0.99% 112,673 $20.6M Reduce -0.4%
VWO Vanguard Ftse Emerging Marke 0.98% 490,119 $20.5M Add +6.3%
CAT Caterpillar Inc. 0.98% 55,693 $20.4M Reduce -1.1%
KBE SS SPDR S&P Bank ETF 0.98% 431,851 $20.3M Add +0.1%
PRF Invesco Rafi US 1000 ETF 0.91% 493,135 $19.0M Reduce -12.2%
IHF iShares U.S. Healthcare Prov 0.88% 335,550 $18.3M No change
XLF SS Financial Select Sector 0.88% 434,108 $18.3M Reduce -16.4%
CMI Cummins Inc. 0.84% 59,516 $17.5M Reduce -0.1%
IHI iShares U.S. Medical Devices 0.75% 266,975 $15.6M Add +14.4%
XLI SS Industrial Select Sector 0.74% 122,862 $15.5M Reduce -47.2%
IQLT iShares MSCI International Q 0.74% 386,400 $15.3M Add +0.1%
PWB Invesco Large Cap Growth ETF 0.73% 170,724 $15.2M No change
PWR Quanta Services Inc. 0.70% 55,764 $14.5M Reduce -1.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.66% 364,103 $13.8M Add +80.9%
J Jacobs Solutions Inc. 0.64% 86,990 $13.4M No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.60% 65,471 $12.6M Add +0.1%
MCHI iShares MSCI China ETF 0.60% 312,325 $12.4M Add +6.5%
EXI iShares Global Industrials E 0.57% 84,695 $11.8M Reduce -0.3%
EEMA iShares MSCI Emerg MRKT Asia 0.55% 168,947 $11.5M No change
PWV Invesco Large Cap Value ETF 0.49% 180,417 $10.2M No change
UNP Union Pacific Corp. 0.49% 41,381 $10.2M Reduce -0.8%
IHAK iShares Cybersecurity & Tech 0.45% 198,135 $9.3M Reduce -1.9%
ARTY iShares Future AI & Tech ETF 0.38% 230,457 $7.9M Add +11.9%
MSFT Microsoft Corp. 0.38% 18,532 $7.8M Reduce -3.7%
OEF iShares S&P 100 ETF 0.35% 29,234 $7.2M Reduce -3.4%
USMV iShares MSCI USA Min Vol Fac 0.34% 84,959 $7.1M Add +0.0%
CSCO Cisco Systems Inc. 0.34% 140,723 $7.0M No change
IDNA iShares Gen-Immunology HLTH 0.31% 269,554 $6.5M Add +34.3%
WRK Westrock Co. 0.31% 128,716 $6.4M Add +74.4%
JBHT Hunt (jb) Transprt SVCS Inc. 0.29% 30,502 $6.1M Reduce -1.9%
GOOGL Alphabet Inc. Class A 0.29% 39,727 $6.0M Reduce -3.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.28% 114,940 $5.9M No change
GM General Motors Co. 0.26% 121,075 $5.5M No change
FDX FedEx Corp. 0.25% 18,264 $5.3M Reduce -1.4%
TXT Textron Inc. 0.24% 52,320 $5.0M No change
CSX CSX Corp. 0.21% 119,855 $4.4M No change
EMB iShares JP Morgan Usd Emergi 0.18% 42,480 $3.8M No change
C Citigroup Inc. 0.18% 58,453 $3.7M Add +36.4%
IWF iShares Russell 1000 Growth 0.18% 10,865 $3.7M Reduce -0.8%
XVV iShares ESG Select Screened 0.17% 86,400 $3.5M Reduce -3.1%
ASML ASML Holding NV-NY Reg SHS 0.12% 2,575 $2.5M No change
IEFA iShares Core MSCI Eafe ETF 0.11% 30,828 $2.3M Reduce -1.2%
SMLF iShares US Smallcap Equity F 0.09% 30,064 $1.9M Reduce -0.1%
XPH SS SPDR S&P Pharma ETF 0.09% 43,845 $1.9M No change
AMZN Amazon.com Inc. 0.09% 10,338 $1.9M No change
CHIQ Global X MSCI China Consumer 0.09% 107,917 $1.8M No change
SIZE iShares MSCI USA Size Factor 0.09% 12,810 $1.8M No change
UPS United Parcel Service Class B 0.09% 11,923 $1.8M Add +2.5%
MPB Mid Penn Bancorp Inc. 0.08% 84,338 $1.7M Add +4.3%
XT Ishar Fture Exp Tech ETF-Usd 0.08% 27,355 $1.6M No change
NVDA Nvidia Corp. 0.06% 1,405 $1.3M No change
VHT Vanguard Health Care ETF 0.06% 4,654 $1.3M Reduce -11.8%
ADBE Adobe Inc. 0.06% 2,393 $1.2M No change
META Meta Platforms Inc. Class A 0.06% 2,424 $1.2M No change
CNYA iShares MSCI China A ETF 0.05% 43,720 $1.1M New
HEEM iShares Crncy Hedgd MSCI Em 0.05% 40,595 $1.0M No change
WFC Wells Fargo & Co. 0.05% 17,700 $1.0M No change
PFF iShares Preferred & Income S 0.05% 30,850 $994K Reduce -93.7%
IDV iShares International Select 0.05% 33,835 $949K No change
FXI iShares China Large-Cap ETF 0.05% 38,953 $938K No change
STBA S & T Bancorp Inc. 0.04% 25,847 $829K Add +0.2%
DGRW Wisdomtree U.S. Quality Divi 0.04% 10,345 $788K No change
LMT Lockheed Martin Corp. 0.04% 1,619 $736K No change
INTC Intel Corp. 0.03% 16,142 $713K Add +0.0%
INTU Intuit Inc. 0.03% 1,035 $673K No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.03% 5,050 $604K No change
ILCG iShares Morningstar Growth E 0.03% 7,985 $603K No change
ORCL Oracle Corp. 0.03% 4,358 $547K Reduce -14.9%
CI The Cigna Group 0.03% 1,501 $545K No change
MS Morgan Stanley 0.03% 5,789 $545K Reduce -2.5%
DHR Danaher Corp. 0.03% 2,120 $529K No change
ESGE iShares Inc. iShares ESG Awar 0.02% 15,990 $515K Reduce -1.4%
BLK BlackRock Finance Inc. 0.02% 603 $503K Reduce -5.5%
GOOG Alphabet Inc. Class C 0.02% 3,260 $496K No change
ICE Intercontinental Exchange Inc. 0.02% 3,485 $479K No change
SUSL iShares ESG MSCI USA Leaders 0.02% 4,990 $468K Reduce -8.9%
ACN Accenture PLC Class A 0.02% 1,350 $468K No change
PAYX Paychex Inc. 0.02% 3,774 $463K No change
JNJ Johnson & Johnson 0.02% 2,885 $456K No change
LLY Eli Lilly & Co. 0.02% 575 $447K No change
PNC PNC Financial Services Group 0.02% 2,656 $429K No change
VONG Vanguard Russell 1000 Growth 0.02% 4,660 $404K No change
COP Conocophillips 0.02% 3,065 $390K No change
ADSK Autodesk Inc. 0.02% 1,445 $376K No change
WTV Wisdomtree U.S. Value Fund 0.02% 4,885 $369K Reduce -27.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 3,003 $367K No change
CVX Chevron Corp. 0.02% 2,219 $350K No change
CRBN Ish Low Car Opt Ms Ac ETF-US 0.02% 1,950 $350K No change
EPP iShares MSCI Pacific Ex Japa 0.02% 7,562 $324K No change
EFV iShares MSCI Eafe Value ETF 0.02% 5,960 $324K No change
AMGN Amgen Inc. 0.02% 1,124 $320K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 1,858 $303K No change
SPGP Invesco S&P 500 Garp ETF 0.01% 2,830 $301K No change
TXN Texas Instruments Inc. 0.01% 1,715 $299K No change
CINF Cincinnati Financial Corp. 0.01% 2,282 $283K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.01% 4,780 $275K No change
SNOW Snowflake Inc. 0.01% 1,695 $274K Reduce -5.8%
CGNX Cognex Corp. 0.01% 6,270 $266K No change
SUSC iShares ESG Aware Usd Corpor 0.01% 11,565 $266K Reduce -3.7%
MA Mastercard Inc. Class A 0.01% 541 $261K No change
UNH Unitedhealth Group Inc. 0.01% 504 $249K No change
PSCT Invesco S&P Smallcap Informa 0.01% 5,230 $243K No change
PBE Invesco Biotechnology & Geno 0.01% 3,746 $242K No change
WELL Welltower Inc. 0.01% 2,555 $239K No change
DVYE iShares Emerging Markets Div 0.01% 8,860 $232K No change
QQQ Invesco QQQ Trust Series 1 0.01% 511 $227K No change
IXJ iShares Global Healthcare Et 0.01% 2,396 $223K No change
MRK Merck & Co. Inc. 0.01% 1,686 $222K New
V Visa Inc. Class A 0.01% 778 $217K No change
ICLN iShares Global Clean Energy 0.01% 14,555 $203K Add +8.3%
FCF First Commonwealth Finl Corp. 0.01% 11,685 $163K No change
BDJ BlackRock Enhanced Eqty DVD 0.01% 19,004 $157K No change
IA Innovative Solutions & Supp 0.01% 19,395 $142K No change
NNVC Nanoviricides Inc. 0.00% 15,736 $18K No change

Portfolio Sells Q4 2023 → Q1 2024
EFAV iShares MSCI Eafe Min Vol Fa Reduce -19.1% 5.51% −1.46
PFF iShares Preferred & Income S Reduce -93.7% 0.05% −0.71
AAPL Apple Inc. Reduce -0.7% 3.71% −0.68
XLI SS Industrial Select Sector Reduce -47.2% 0.74% −0.59
VLUE iShares MSCI USA Value Facto Reduce -8.3% 5.77% −0.38
EEMV iShares MSCI Emg MKT Min Vol Reduce -2.1% 5.58% −0.28
XLV SS Health Care Select Sector Reduce -9.9% 1.68% −0.12
IWY iShares Russell Top 200 Grow Reduce -11.5% 1.87% −0.12
XLF SS Financial Select Sector Reduce -16.4% 0.88% −0.10
PRF Invesco Rafi US 1000 ETF Reduce -12.2% 0.91% −0.08
UNP Union Pacific Corp. Reduce -0.8% 0.49% −0.03
JBHT Hunt (jb) Transprt SVCS Inc. Reduce -1.9% 0.29% −0.02
IHAK iShares Cybersecurity & Tech Reduce -1.9% 0.45% −0.02
XLK SS Technology Select Sector Reduce -3.8% 2.93% −0.01
VYM Vanguard High DVD Yield ETF Reduce -3.7% 4.33% −0.01
VHT Vanguard Health Care ETF Reduce -11.8% 0.06% −0.01
WTV Wisdomtree U.S. Value Fund Reduce -27.2% 0.02% −0.01
SNOW Snowflake Inc. Reduce -5.8% 0.01% −0.00
BLK BlackRock Finance Inc. Reduce -5.5% 0.02% −0.00
GOOGL Alphabet Inc. Class A Reduce -3.7% 0.29% −0.00
MS Morgan Stanley Reduce -2.5% 0.03% −0.00
ESGE iShares Inc. iShares ESG Awar Reduce -1.4% 0.02% −0.00
SUSC iShares ESG Aware Usd Corpor Reduce -3.7% 0.01% −0.00
ORCL Oracle Corp. Reduce -14.9% 0.03% −0.00
SUSL iShares ESG MSCI USA Leaders Reduce -8.9% 0.02% −0.00
IEFA iShares Core MSCI Eafe ETF Reduce -1.2% 0.11% −0.00
SMLF iShares US Smallcap Equity F Reduce -0.1% 0.09% +0.00
XVV iShares ESG Select Screened Reduce -3.1% 0.17% +0.00
OEF iShares S&P 100 ETF Reduce -3.4% 0.35% +0.01
IWF iShares Russell 1000 Growth Reduce -0.8% 0.18% +0.01
MSFT Microsoft Corp. Reduce -3.7% 0.38% +0.01
FDX FedEx Corp. Reduce -1.4% 0.25% +0.02
VIG Vanguard Dividend Apprec ETF Reduce -0.4% 0.99% +0.02
EXI iShares Global Industrials E Reduce -0.3% 0.57% +0.02
KBWB Invesco KBW Bank ETF Reduce -3.5% 4.11% +0.03
PWR Quanta Services Inc. Reduce -1.0% 0.70% +0.09
IVV iShares Core S&P 500 ETF Reduce -0.5% 2.42% +0.11
CMI Cummins Inc. Reduce -0.1% 0.84% +0.13
CAT Caterpillar Inc. Reduce -1.1% 0.98% +0.14
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.0% 1.47% +0.15
JPM JPMorgan Chase & Co. Reduce -1.1% 1.90% +0.19
QUAL iShares MSCI USA Quality Fac Reduce -1.1% 10.05% +0.53

Portfolio Buys Q4 2023 → Q1 2024
VEU Vanguard Ftse All-World Ex-U Add +63.5% 1.88% +0.73
BINC iShares Flex I A ETF-Usd Inc. Add +48.9% 2.25% +0.67
IFRA iShares US Infrastructure Add +30.5% 2.26% +0.58
BAC Bank of America Corp. Add +80.9% 0.66% +0.32
HDV iShares Core High Dividend E Add +17.7% 1.23% +0.22
WRK Westrock Co. Add +74.4% 0.31% +0.15
IHI iShares U.S. Medical Devices Add +14.4% 0.75% +0.12
IDNA iShares Gen-Immunology HLTH Add +34.3% 0.31% +0.08
C Citigroup Inc. Add +36.4% 0.18% +0.07
CNYA iShares MSCI China A ETF New 0.05% +0.05
RSP Invesco S&P 500 Equal Weight Add +0.1% 1.91% +0.05
VWO Vanguard Ftse Emerging Marke Add +6.3% 0.98% +0.03
ARTY iShares Future AI & Tech ETF Add +11.9% 0.38% +0.02
VBR Vngrd Mrngst SL-CP Val ETF-U Add +0.1% 0.60% +0.01
MRK Merck & Co. Inc. New 0.01% +0.01
USMV iShares MSCI USA Min Vol Fac Add +0.0% 0.34% +0.01
IQLT iShares MSCI International Q Add +0.1% 0.74% +0.01
ICLN iShares Global Clean Energy Add +8.3% 0.01% −0.00
STBA S & T Bancorp Inc. Add +0.2% 0.04% −0.00
MCHI iShares MSCI China ETF Add +6.5% 0.60% −0.00
INTC Intel Corp. Add +0.0% 0.03% −0.01
UPS United Parcel Service Class B Add +2.5% 0.09% −0.01
MPB Mid Penn Bancorp Inc. Add +4.3% 0.08% −0.02
KBE SS SPDR S&P Bank ETF Add +0.1% 0.98% −0.02
IEMG iShares Core MSCI Emerging Add +0.6% 3.70% −0.07
VUSB Vanguard Ultra Short Bond Et Add +3.1% 10.70% −0.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 142$3.0BQUAL, VLUE, EEMV, KBWB, BINC
Q1 2026 141$2.6BQUAL, VLUE, EFAV, EEMV, KBWB
Q4 2025 141$2.6BQUAL, VLUE, KBWB, EFAV, EEMV
Q3 2025 140$2.3BVLUE, EFAV, EEMV, KBWB, VYM
Q2 2025 137$2.4BQUAL, EFAV, EEMV, KBWB, VLUE
Q1 2025 137$2.2BQUAL, VLUE, EEMV, EFAV, VYM
Q4 2024 137$2.2BQUAL, VLUE, EEMV, EFAV, KBWB
Q3 2024 141$2.2BQUAL, VLUE, KBWB, VYM, EEMV
Q2 2024 138$1.9BQUAL, VLUE, EEMV, EFAV, AAPL
Q1 2024 135$2.1BVUSB, QUAL, VLUE, EEMV, EFAV