Wharton Business Group, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 7, 2024), Wharton Business Group, LLC reported 141 stock positions worth $2.2 billion. Its top holding was iShares MSCI USA Quality Fac (QUAL) at 10.2% of the portfolio, followed by iShares MSCI USA Value Facto (VLUE, 6.3%) and Invesco KBW Bank ETF (KBWB, 5.2%). Compared with Q2 2024, it opened 10 new positions, sold out of 8, added to 32 and reduced 40. The biggest buy was Invesco KBW Bank ETF (KBWB, shares +27%) and the biggest sale iShares MSCI Eafe Min Vol Fa (EFAV, shares −25%).

Most Recent 13F
Q2 2026
Location
MALVERN, PA
CIK
0001513126
Portfolio Value
$2.2B (Q3 2024)
SEC Filing
0001513126-24-000004 ↗ filed Nov 7, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $2.1B Q1 2024 Q2 2024: $1.9B Q2 2024 Q3 2024: $2.2B $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 141 stocks · $2.2B
QUAL iShares MSCI USA Quality Fac 10.21% 1,267,468 $227.3M Add +0.3%
VLUE iShares MSCI USA Value Facto 6.32% 1,290,421 $140.7M Add +15.6%
KBWB Invesco KBW Bank ETF 5.23% 1,987,535 $116.5M Add +27.4%
VYM Vanguard High DVD Yield ETF 5.15% 894,801 $114.7M Add +19.9%
EEMV iShares MSCI Emg MKT Min Vol 5.10% 1,811,748 $113.6M Reduce -8.8%
AAPL Apple Inc. 4.61% 440,809 $102.7M Reduce -0.1%
EFAV iShares MSCI Eafe Min Vol Fa 4.23% 1,229,241 $94.3M Reduce -24.6%
IEMG iShares Core MSCI Emerging 3.85% 1,492,179 $85.7M Add +0.0%
VUSB Vanguard Ultra Short Bond Et 3.32% 1,480,684 $73.9M Add +1.4%
IFRA iShares US Infrastructure 3.17% 1,501,800 $70.5M Add +37.5%
XLK SS Technology Select Sector 2.91% 286,621 $64.7M Add +0.1%
BINC iShares Flex I A ETF-Usd Inc. 2.79% 1,161,375 $62.2M Add +27.3%
VEU Vanguard Ftse All-World Ex-U 2.53% 894,746 $56.4M Add +34.5%
IVV iShares Core S&P 500 ETF 2.46% 94,898 $54.7M Reduce -0.2%
RSP Invesco S&P 500 Equal Weight 2.24% 278,708 $49.9M Add +46.1%
JPM JPMorgan Chase & Co. 2.07% 218,755 $46.1M Add +11.3%
IWY iShares Russell Top 200 Grow 2.01% 203,216 $44.7M Add +1.8%
BRK.B Berkshire Hathaway Inc. Class B 1.72% 83,160 $38.3M Add +14.6%
XLV SS Health Care Select Sector 1.64% 236,480 $36.4M Add +0.1%
GS Goldman Sachs Group Inc. 1.52% 68,412 $33.9M Add +16.4%
IQLT iShares MSCI International Q 1.38% 738,310 $30.6M Add +88.9%
VWO Vanguard Ftse Emerging Marke 1.04% 484,091 $23.2M Reduce -2.3%
VIG Vanguard Dividend Apprec ETF 1.02% 114,558 $22.7M Add +0.7%
KBE SS SPDR S&P Bank ETF 1.01% 425,346 $22.5M Reduce -0.5%
CAT Caterpillar Inc. 0.96% 54,818 $21.4M No change
HDV iShares Core High Dividend E 0.91% 171,822 $20.2M Reduce -22.5%
PRF Invesco Rafi US 1000 ETF 0.90% 493,135 $20.0M No change
CMI Cummins Inc. 0.88% 58,841 $19.5M Reduce -0.3%
XLF SS Financial Select Sector 0.87% 429,698 $19.5M Reduce -0.3%
IHF iShares U.S. Healthcare Prov 0.86% 335,550 $19.2M No change
SOXX iShares Semiconductor ETF 0.86% 82,889 $19.1M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.75% 419,857 $16.7M Add +18.7%
XLI SS Industrial Select Sector 0.75% 122,863 $16.6M No change
PWB Invesco Large Cap Growth ETF 0.75% 168,364 $16.6M No change
PWR Quanta Services Inc. 0.74% 55,520 $16.6M No change
IHI iShares U.S. Medical Devices 0.74% 276,850 $16.4M Add +3.0%
GII State Street SPDR S&P Global 0.68% 244,630 $15.1M New
IHAK iShares Cybersecurity & Tech 0.65% 295,060 $14.4M Add +42.7%
INDA iShares MSCI India ETF 0.64% 241,575 $14.1M New
EMXC iShares MSCI Emr MRK Ex Chna 0.63% 228,140 $13.9M New
EXI iShares Global Industrials E 0.57% 84,695 $12.6M No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.56% 62,593 $12.6M Reduce -4.5%
ARTY iShares Future AI & Tech ETF 0.55% 359,087 $12.3M Add +46.5%
PWV Invesco Large Cap Value ETF 0.47% 179,262 $10.5M No change
MCHI iShares MSCI China ETF 0.39% 169,325 $8.6M Reduce -45.8%
J Jacobs Solutions Inc. 0.38% 65,295 $8.5M Reduce -24.9%
MSFT Microsoft Corp. 0.35% 18,158 $7.8M Add +0.9%
CSCO Cisco Systems Inc. 0.34% 140,519 $7.5M Add +0.0%
OEF iShares S&P 100 ETF 0.33% 26,689 $7.4M Reduce -6.8%
UNP Union Pacific Corp. 0.32% 28,466 $7.0M Reduce -30.9%
USMV iShares MSCI USA Min Vol Fac 0.31% 75,955 $6.9M Reduce -1.0%
IDNA iShares Gen-Immunology HLTH 0.30% 270,899 $6.7M No change
IGSB iShares 1-5Y Inv Grade Corp. 0.30% 126,140 $6.6M Add +10.2%
SW Smurfit Westrock PLC 0.28% 127,586 $6.3M New
GOOGL Alphabet Inc. Class A 0.28% 37,466 $6.2M Reduce -5.1%
GM General Motors Co. 0.24% 120,770 $5.4M Reduce -0.1%
FDX FedEx Corp. 0.23% 18,336 $5.0M Add +0.4%
TXT Textron Inc. 0.21% 52,320 $4.6M No change
CSX CSX Corp. 0.19% 119,855 $4.1M No change
XT Ishar Fture Exp Tech ETF-Usd 0.18% 64,740 $3.9M Add +137.4%
EMB iShares JP Morgan Usd Emergi 0.18% 42,090 $3.9M Reduce -0.3%
XVV iShares ESG Select Screened 0.17% 86,400 $3.8M No change
IWF iShares Russell 1000 Growth 0.17% 10,065 $3.8M Reduce -7.4%
C Citigroup Inc. 0.15% 52,003 $3.3M No change
MPB Mid Penn Bancorp Inc. 0.11% 84,338 $2.5M No change
CHIQ Global X MSCI China Consumer 0.10% 107,917 $2.3M No change
IEFA iShares Core MSCI Eafe ETF 0.10% 28,898 $2.3M Reduce -11.4%
AMTM Amentum Holdings Inc. 0.09% 65,295 $2.1M Reduce -24.9%
XPH SS SPDR S&P Pharma ETF 0.09% 43,845 $1.9M No change
AMZN Amazon.com Inc. 0.09% 10,283 $1.9M Reduce -1.0%
NVDA Nvidia Corp. 0.08% 15,266 $1.9M Reduce -2.8%
ASML ASML Holding NV-NY Reg SHS 0.08% 2,198 $1.8M Add +0.1%
EEMA iShares MSCI Emerg MRKT Asia 0.07% 20,597 $1.6M Reduce -87.8%
JBHT Hunt (jb) Transprt SVCS Inc. 0.07% 9,117 $1.6M Reduce -67.9%
SMLF iShares US Smallcap Equity F 0.07% 22,125 $1.5M Reduce -26.4%
META Meta Platforms Inc. Class A 0.06% 2,424 $1.4M Reduce -2.5%
CNYA iShares MSCI China A ETF 0.06% 43,675 $1.3M No change
VHT Vanguard Health Care ETF 0.06% 4,614 $1.3M Reduce -0.3%
ADBE Adobe Inc. 0.06% 2,398 $1.2M Reduce -0.1%
FXI iShares China Large-Cap ETF 0.06% 38,953 $1.2M No change
HEEM iShares Crncy Hedgd MSCI Em 0.05% 40,595 $1.2M No change
STBA S & T Bancorp Inc. 0.05% 25,952 $1.1M Add +0.2%
IDV iShares International Select 0.05% 35,925 $1.1M No change
WFC Wells Fargo & Co. 0.04% 17,700 $1.0M No change
PFF iShares Preferred & Income S 0.04% 29,895 $993K No change
LMT Lockheed Martin Corp. 0.04% 1,495 $874K No change
DGRW Wisdomtree U.S. Quality Divi 0.04% 10,345 $861K No change
ORCL Oracle Corp. 0.03% 4,358 $743K Reduce -2.5%
MS Morgan Stanley 0.03% 6,649 $693K Add +14.9%
ILCG iShares Morningstar Growth E 0.03% 7,985 $671K No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.03% 5,050 $648K No change
INTU Intuit Inc. 0.03% 1,035 $643K Reduce -1.2%
DHR Danaher Corp. 0.03% 2,120 $589K Reduce -2.0%
ESGE iShares Inc. iShares ESG Awar 0.03% 15,990 $582K No change
BLK BlackRock Finance Inc. 0.03% 603 $573K No change
ICE Intercontinental Exchange Inc. 0.03% 3,460 $556K Reduce -1.0%
GOOG Alphabet Inc. Class C 0.02% 3,260 $545K Reduce -3.8%
LLY Eli Lilly & Co. 0.02% 605 $536K No change
VCSH Vanguard S/T Corp. Bond ETF 0.02% 6,745 $536K New
CI The Cigna Group 0.02% 1,501 $520K No change
SUSL iShares ESG MSCI USA Leaders 0.02% 4,990 $507K No change
PAYX Paychex Inc. 0.02% 3,715 $499K No change
PNC PNC Financial Services Group 0.02% 2,656 $491K Add +57.0%
ACN Accenture PLC Class A 0.02% 1,350 $477K Reduce -0.5%
JNJ Johnson & Johnson 0.02% 2,810 $455K No change
VONG Vanguard Russell 1000 Growth 0.02% 4,660 $450K No change
ADSK Autodesk Inc. 0.02% 1,445 $398K Reduce -2.5%
WTV Wisdomtree U.S. Value Fund 0.02% 4,885 $391K No change
CRBN Ish Low Car Opt Ms Ac ETF-US 0.02% 1,950 $382K No change
AMGN Amgen Inc. 0.02% 1,176 $379K No change
INTC Intel Corp. 0.02% 16,143 $379K Add +0.0%
EPP iShares MSCI Pacific Ex Japa 0.02% 7,562 $369K No change
UPS United Parcel Service Class B 0.02% 2,695 $367K Reduce -5.3%
TXN Texas Instruments Inc. 0.02% 1,715 $354K Reduce -0.6%
DVYE iShares Emerging Markets Div 0.02% 12,060 $346K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.02% 4,780 $343K No change
EFV iShares MSCI Eafe Value ETF 0.02% 5,960 $343K No change
CVX Chevron Corp. 0.01% 2,219 $327K No change
WELL Welltower Inc. 0.01% 2,555 $327K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 1,858 $324K No change
COP Conocophillips 0.01% 3,065 $323K No change
SPGP Invesco S&P 500 Garp ETF 0.01% 2,830 $296K No change
UNH Unitedhealth Group Inc. 0.01% 504 $295K No change
SUSC iShares ESG Aware Usd Corpor 0.01% 11,565 $275K No change
MA Mastercard Inc. Class A 0.01% 541 $267K Reduce -4.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 2,713 $261K Reduce -6.8%
CGNX Cognex Corp. 0.01% 6,270 $254K No change
PBE Invesco Biotechnology & Geno 0.01% 3,616 $252K No change
PSCT Invesco S&P Smallcap Informa 0.01% 5,230 $250K No change
IXJ iShares Global Healthcare Et 0.01% 2,396 $235K No change
PYPL PayPal Holdings Inc. 0.01% 2,975 $232K New
VTI VG Morningstar TS MKT ETF-US 0.01% 765 $217K No change
ICLN iShares Global Clean Energy 0.01% 14,555 $214K No change
ZION Zions Bancorp NA 0.01% 4,460 $211K New
QQQ Invesco QQQ Trust Series 1 0.01% 426 $208K No change
FBT First Trust Nyse Arca Biotec 0.01% 1,200 $206K New
BABA Alibaba Group Holding-SP ADR 0.01% 1,900 $202K New
FCF First Commonwealth Finl Corp. 0.01% 11,685 $200K No change
BDJ BlackRock Enhanced Eqty DVD 0.01% 19,004 $164K No change
IA Innovative Solutions & Supp 0.01% 19,395 $126K No change
NNVC Nanoviricides Inc. 0.00% 15,736 $24K No change

Portfolio Sells Q2 2024 → Q3 2024
EFAV iShares MSCI Eafe Min Vol Fa Reduce -24.6% 4.23% −1.60
EEMV iShares MSCI Emg MKT Min Vol Reduce -8.8% 5.10% −0.77
EEMA iShares MSCI Emerg MRKT Asia Reduce -87.8% 0.07% −0.56
HDV iShares Core High Dividend E Reduce -22.5% 0.91% −0.34
WRK Westrock Co. Sold out 0.00% −0.33
MCHI iShares MSCI China ETF Reduce -45.8% 0.39% −0.29
J Jacobs Solutions Inc. Reduce -24.9% 0.38% −0.24
IVV iShares Core S&P 500 ETF Reduce -0.2% 2.46% −0.23
AAPL Apple Inc. Reduce -0.1% 4.61% −0.19
UNP Union Pacific Corp. Reduce -30.9% 0.32% −0.17
JBHT Hunt (jb) Transprt SVCS Inc. Reduce -67.9% 0.07% −0.16
GOOGL Alphabet Inc. Class A Reduce -5.1% 0.28% −0.09
SIZE iShares MSCI USA Size Factor Sold out 0.00% −0.09
VWO Vanguard Ftse Emerging Marke Reduce -2.3% 1.04% −0.08
OEF iShares S&P 100 ETF Reduce -6.8% 0.33% −0.06
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -4.5% 0.56% −0.05
AMTM Amentum Holdings Inc. Reduce -24.9% 0.09% −0.05
GM General Motors Co. Reduce -0.1% 0.24% −0.05
XLF SS Financial Select Sector Reduce -0.3% 0.87% −0.04
AGG iShares Core U.S. Aggregate Sold out 0.00% −0.04
IWF iShares Russell 1000 Growth Reduce -7.4% 0.17% −0.04
MGC Vngrd Mrngstr MG Cap ETF-Usd Sold out 0.00% −0.03
SMLF iShares US Smallcap Equity F Reduce -26.4% 0.07% −0.03
USMV iShares MSCI USA Min Vol Fac Reduce -1.0% 0.31% −0.02
IEFA iShares Core MSCI Eafe ETF Reduce -11.4% 0.10% −0.02
AMZN Amazon.com Inc. Reduce -1.0% 0.09% −0.02
NVDA Nvidia Corp. Reduce -2.8% 0.08% −0.02
EMB iShares JP Morgan Usd Emergi Reduce -0.3% 0.18% −0.02
CINF Cincinnati Financial Corp. Sold out 0.00% −0.01
KBE SS SPDR S&P Bank ETF Reduce -0.5% 1.01% −0.01
ADBE Adobe Inc. Reduce -0.1% 0.06% −0.01
TLT iShares 20+ Year Treasury BD Sold out 0.00% −0.01
V Visa Inc. Class A Sold out 0.00% −0.01
MRK Merck & Co. Inc. Sold out 0.00% −0.01
GOOG Alphabet Inc. Class C Reduce -3.8% 0.02% −0.01
INTU Intuit Inc. Reduce -1.2% 0.03% −0.01
VHT Vanguard Health Care ETF Reduce -0.3% 0.06% −0.01
UPS United Parcel Service Class B Reduce -5.3% 0.02% −0.00
DIS The Walt Disney Co. Reduce -6.8% 0.01% −0.00
META Meta Platforms Inc. Class A Reduce -2.5% 0.06% −0.00
TXN Texas Instruments Inc. Reduce -0.6% 0.02% −0.00
DHR Danaher Corp. Reduce -2.0% 0.03% −0.00
ADSK Autodesk Inc. Reduce -2.5% 0.02% −0.00
MA Mastercard Inc. Class A Reduce -4.3% 0.01% −0.00
ACN Accenture PLC Class A Reduce -0.5% 0.02% +0.00
ICE Intercontinental Exchange Inc. Reduce -1.0% 0.03% +0.00
ORCL Oracle Corp. Reduce -2.5% 0.03% +0.00
CMI Cummins Inc. Reduce -0.3% 0.88% +0.03

Portfolio Buys Q2 2024 → Q3 2024
KBWB Invesco KBW Bank ETF Add +27.4% 5.23% +0.92
SOXX iShares Semiconductor ETF New 0.86% +0.86
IFRA iShares US Infrastructure Add +37.5% 3.17% +0.79
GII State Street SPDR S&P Global New 0.68% +0.68
INDA iShares MSCI India ETF New 0.64% +0.64
EMXC iShares MSCI Emr MRK Ex Chna New 0.63% +0.63
RSP Invesco S&P 500 Equal Weight Add +46.1% 2.24% +0.62
IQLT iShares MSCI International Q Add +88.9% 1.38% +0.59
VYM Vanguard High DVD Yield ETF Add +19.9% 5.15% +0.58
VEU Vanguard Ftse All-World Ex-U Add +34.5% 2.53% +0.52
VLUE iShares MSCI USA Value Facto Add +15.6% 6.32% +0.36
BINC iShares Flex I A ETF-Usd Inc. Add +27.3% 2.79% +0.33
SW Smurfit Westrock PLC New 0.28% +0.28
BRK.B Berkshire Hathaway Inc. Class B Add +14.6% 1.72% +0.19
IHAK iShares Cybersecurity & Tech Add +42.7% 0.65% +0.16
GS Goldman Sachs Group Inc. Add +16.4% 1.52% +0.15
ARTY iShares Future AI & Tech ETF Add +46.5% 0.55% +0.13
XT Ishar Fture Exp Tech ETF-Usd Add +137.4% 0.18% +0.09
VCSH Vanguard S/T Corp. Bond ETF New 0.02% +0.02
BAC Bank of America Corp. Add +18.7% 0.75% +0.02
JPM JPMorgan Chase & Co. Add +11.3% 2.07% +0.02
PYPL PayPal Holdings Inc. New 0.01% +0.01
ZION Zions Bancorp NA New 0.01% +0.01
FBT First Trust Nyse Arca Biotec New 0.01% +0.01
BABA Alibaba Group Holding-SP ADR New 0.01% +0.01
PNC PNC Financial Services Group Add +57.0% 0.02% +0.01
STBA S & T Bancorp Inc. Add +0.2% 0.05% +0.00
MS Morgan Stanley Add +14.9% 0.03% +0.00
IGSB iShares 1-5Y Inv Grade Corp. Add +10.2% 0.30% −0.00
INTC Intel Corp. Add +0.0% 0.02% −0.01
CSCO Cisco Systems Inc. Add +0.0% 0.34% −0.01
ASML ASML Holding NV-NY Reg SHS Add +0.1% 0.08% −0.03
IHI iShares U.S. Medical Devices Add +3.0% 0.74% −0.04
VIG Vanguard Dividend Apprec ETF Add +0.7% 1.02% −0.05
FDX FedEx Corp. Add +0.4% 0.23% −0.06
MSFT Microsoft Corp. Add +0.9% 0.35% −0.06
XLV SS Health Care Select Sector Add +0.1% 1.64% −0.14
IWY iShares Russell Top 200 Grow Add +1.8% 2.01% −0.20
IEMG iShares Core MSCI Emerging Add +0.0% 3.85% −0.28
VUSB Vanguard Ultra Short Bond Et Add +1.4% 3.32% −0.41
XLK SS Technology Select Sector Add +0.1% 2.91% −0.44
QUAL iShares MSCI USA Quality Fac Add +0.3% 10.21% −0.94

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