Wharton Business Group, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Wharton Business Group, LLC reported 137 stock positions worth $2.2 billion. Its top holding was iShares MSCI USA Quality Fac (QUAL) at 10.1% of the portfolio, followed by iShares MSCI USA Value Facto (VLUE, 6.2%) and iShares MSCI Emg MKT Min Vol (EEMV, 5.9%). Compared with Q3 2024, it opened 5 new positions, sold out of 9, added to 18 and reduced 57. The biggest buy was iShares MSCI Eafe Min Vol Fa (EFAV, shares +36%) and the biggest sale iShares Semiconductor ETF (SOXX, shares −88%).

Most Recent 13F
Q2 2026
Location
MALVERN, PA
CIK
0001513126
Portfolio Value
$2.2B (Q4 2024)
SEC Filing
0001513126-25-000001 ↗ filed Feb 4, 2025

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 Q3 2024 Q4 2024: $2.2B $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 137 stocks · $2.2B
QUAL iShares MSCI USA Quality Fac 10.08% 1,254,494 $223.4M Reduce -1.0%
VLUE iShares MSCI USA Value Facto 6.18% 1,295,666 $136.8M Add +0.4%
EEMV iShares MSCI Emg MKT Min Vol 5.92% 2,261,035 $131.1M Add +24.8%
EFAV iShares MSCI Eafe Min Vol Fa 5.32% 1,668,037 $117.9M Add +35.7%
KBWB Invesco KBW Bank ETF 5.31% 1,799,937 $117.6M Reduce -9.4%
VYM Vanguard High DVD Yield ETF 5.14% 892,922 $113.9M Reduce -0.2%
AAPL Apple Inc. 4.95% 437,576 $109.6M Reduce -0.7%
IEMG iShares Core MSCI Emerging 3.46% 1,466,669 $76.6M Reduce -1.7%
IFRA iShares US Infrastructure 3.26% 1,559,400 $72.2M Add +3.8%
VUSB Vanguard Ultra Short Bond Et 3.25% 1,449,479 $71.9M Reduce -2.1%
XLK SS Technology Select Sector 2.95% 281,521 $65.5M Reduce -1.8%
BINC iShares Flex I A ETF-Usd Inc. 2.87% 1,222,765 $63.6M Add +5.3%
IVV iShares Core S&P 500 ETF 2.52% 94,886 $55.9M Reduce -0.0%
JPM JPMorgan Chase & Co. 2.34% 215,835 $51.7M Reduce -1.3%
VEU Vanguard Ftse All-World Ex-U 2.31% 893,227 $51.3M Reduce -0.2%
RSP Invesco S&P 500 Equal Weight 2.24% 282,853 $49.6M Add +1.5%
IWY iShares Russell Top 200 Grow 2.07% 194,669 $45.8M Reduce -4.2%
GS Goldman Sachs Group Inc. 1.78% 68,773 $39.4M Add +0.5%
BRK.B Berkshire Hathaway Inc. Class B 1.69% 82,415 $37.4M Reduce -0.9%
XLV SS Health Care Select Sector 1.46% 235,509 $32.4M Reduce -0.4%
ARTY iShares Future AI & Tech ETF 1.34% 798,667 $29.6M Add +122.4%
IQLT iShares MSCI International Q 1.27% 755,800 $28.1M Add +2.4%
KBE SS SPDR S&P Bank ETF 1.03% 409,821 $22.7M Reduce -3.6%
VIG Vanguard Dividend Apprec ETF 1.01% 114,803 $22.5M Add +0.2%
XLF SS Financial Select Sector 0.92% 421,468 $20.4M Reduce -1.9%
PRF Invesco Rafi US 1000 ETF 0.90% 493,135 $19.9M No change
VWO Vanguard Ftse Emerging Marke 0.89% 449,698 $19.8M Reduce -7.1%
CMI Cummins Inc. 0.89% 56,506 $19.7M Reduce -4.0%
HDV iShares Core High Dividend E 0.87% 171,587 $19.3M Reduce -0.1%
CAT Caterpillar Inc. 0.86% 52,808 $19.2M Reduce -3.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.80% 401,368 $17.6M Reduce -4.4%
PWR Quanta Services Inc. 0.78% 54,655 $17.3M Reduce -1.6%
PWB Invesco Large Cap Growth ETF 0.77% 167,819 $17.1M Reduce -0.3%
XLI SS Industrial Select Sector 0.73% 122,828 $16.2M Reduce -0.0%
IHF iShares U.S. Healthcare Prov 0.73% 335,030 $16.1M Reduce -0.1%
IHI iShares U.S. Medical Devices 0.68% 257,900 $15.0M Reduce -6.8%
GII State Street SPDR S&P Global 0.66% 248,765 $14.7M Add +1.7%
IHAK iShares Cybersecurity & Tech 0.65% 297,295 $14.5M Add +0.8%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.55% 61,869 $12.3M Reduce -1.2%
EXI iShares Global Industrials E 0.54% 84,695 $12.0M No change
PWV Invesco Large Cap Value ETF 0.45% 176,772 $10.1M Reduce -1.4%
J Jacobs Solutions Inc. 0.39% 64,300 $8.6M Reduce -1.5%
CSCO Cisco Systems Inc. 0.37% 140,084 $8.3M Reduce -0.3%
OEF iShares S&P 100 ETF 0.36% 27,729 $8.0M Add +3.9%
MCHI iShares MSCI China ETF 0.36% 169,325 $7.9M No change
MSFT Microsoft Corp. 0.34% 17,616 $7.4M Reduce -3.0%
USMV iShares MSCI USA Min Vol Fac 0.30% 74,742 $6.6M Reduce -1.6%
GOOGL Alphabet Inc. Class A 0.30% 34,921 $6.6M Reduce -6.8%
IGSB iShares 1-5Y Inv Grade Corp. 0.30% 127,825 $6.6M Add +1.3%
UNP Union Pacific Corp. 0.29% 28,391 $6.5M Reduce -0.3%
GM General Motors Co. 0.29% 120,770 $6.4M No change
IDNA iShares Gen-Immunology HLTH 0.28% 270,617 $6.1M Reduce -0.1%
FDX FedEx Corp. 0.23% 17,976 $5.1M Reduce -2.0%
XT Ishar Fture Exp Tech ETF-Usd 0.19% 69,970 $4.2M Add +8.1%
CSX CSX Corp. 0.18% 126,685 $4.1M Add +5.7%
TXT Textron Inc. 0.18% 52,320 $4.0M No change
IWF iShares Russell 1000 Growth 0.18% 9,952 $4.0M Reduce -1.1%
XVV iShares ESG Select Screened 0.17% 83,200 $3.8M Reduce -3.7%
EMB iShares JP Morgan Usd Emergi 0.17% 42,090 $3.7M No change
C Citigroup Inc. 0.16% 51,828 $3.6M Reduce -0.3%
SW Smurfit Westrock PLC 0.16% 67,094 $3.6M Reduce -47.4%
MPB Mid Penn Bancorp Inc. 0.11% 84,338 $2.4M No change
AMZN Amazon.com Inc. 0.10% 10,266 $2.3M Reduce -0.2%
SOXX iShares Semiconductor ETF 0.10% 9,969 $2.1M Reduce -88.0%
IEFA iShares Core MSCI Eafe ETF 0.09% 28,823 $2.0M Reduce -0.3%
NVDA Nvidia Corp. 0.09% 14,151 $1.9M Reduce -7.3%
XPH SS SPDR S&P Pharma ETF 0.09% 43,845 $1.9M No change
CHIQ Global X MSCI China Consumer 0.08% 98,567 $1.9M Reduce -8.7%
ASML ASML Holding NV-NY Reg SHS 0.07% 2,198 $1.5M No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.07% 8,909 $1.5M Reduce -2.3%
SMLF iShares US Smallcap Equity F 0.07% 22,125 $1.5M No change
EEMA iShares MSCI Emerg MRKT Asia 0.06% 19,957 $1.4M Reduce -3.1%
META Meta Platforms Inc. Class A 0.06% 2,424 $1.4M No change
WFC Wells Fargo & Co. 0.06% 17,700 $1.2M No change
CNYA iShares MSCI China A ETF 0.06% 43,675 $1.2M No change
FXI iShares China Large-Cap ETF 0.05% 38,953 $1.2M No change
VHT Vanguard Health Care ETF 0.05% 4,509 $1.1M Reduce -2.3%
HEEM iShares Crncy Hedgd MSCI Em 0.05% 40,595 $1.1M No change
ADBE Adobe Inc. 0.05% 2,383 $1.1M Reduce -0.6%
STBA S & T Bancorp Inc. 0.04% 25,999 $994K Add +0.2%
PFF iShares Preferred & Income S 0.04% 29,895 $940K No change
IDV iShares International Select 0.04% 31,670 $867K Reduce -11.8%
DGRW Wisdomtree U.S. Quality Divi 0.04% 10,345 $837K No change
MS Morgan Stanley 0.04% 6,624 $833K Reduce -0.4%
LMT Lockheed Martin Corp. 0.03% 1,495 $726K No change
ORCL Oracle Corp. 0.03% 4,358 $726K No change
ILCG iShares Morningstar Growth E 0.03% 7,400 $663K Reduce -7.3%
INTU Intuit Inc. 0.03% 1,035 $650K No change
VCSH Vanguard S/T Corp. Bond ETF 0.03% 8,145 $635K Add +20.8%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.03% 5,050 $631K No change
GOOG Alphabet Inc. Class C 0.03% 3,260 $621K No change
PAYX Paychex Inc. 0.02% 3,715 $521K No change
ICE Intercontinental Exchange Inc. 0.02% 3,460 $516K No change
PNC PNC Financial Services Group 0.02% 2,656 $512K No change
DHR Danaher Corp. 0.02% 2,120 $487K No change
VONG Vanguard Russell 1000 Growth 0.02% 4,660 $481K No change
ACN Accenture PLC Class A 0.02% 1,350 $475K No change
LLY Eli Lilly & Co. 0.02% 605 $467K No change
ESGE iShares Inc. iShares ESG Awar 0.02% 13,865 $463K Reduce -13.3%
ADSK Autodesk Inc. 0.02% 1,445 $427K No change
CI The Cigna Group 0.02% 1,501 $414K No change
WTV Wisdomtree U.S. Value Fund 0.02% 4,885 $408K No change
JNJ Johnson & Johnson 0.02% 2,810 $406K No change
SUSL iShares ESG MSCI USA Leaders 0.02% 3,875 $399K Reduce -22.3%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.02% 4,780 $367K No change
CRBN Ish Low Car Opt Ms Ac ETF-US 0.02% 1,795 $347K Reduce -8.0%
BLK BlackRock Inc. 0.02% 330 $338K New
EPP iShares MSCI Pacific Ex Japa 0.01% 7,562 $331K No change
CINF Cincinnati Financial Corp. 0.01% 2,282 $328K New
INTC Intel Corp. 0.01% 16,143 $324K No change
TXN Texas Instruments Inc. 0.01% 1,715 $322K No change
WELL Welltower Inc. 0.01% 2,555 $322K No change
CVX Chevron Corp. 0.01% 2,219 $321K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 1,858 $315K No change
EFV iShares MSCI Eafe Value ETF 0.01% 5,960 $313K No change
AMGN Amgen Inc. 0.01% 1,176 $306K No change
COP Conocophillips 0.01% 3,065 $304K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 2,713 $302K No change
SPGP Invesco S&P 500 Garp ETF 0.01% 2,830 $297K No change
DVYE iShares Emerging Markets Div 0.01% 11,140 $288K Reduce -7.6%
BLK BlackRock Finance Inc. 0.01% 273 $280K Reduce -54.7%
UNH Unitedhealth Group Inc. 0.01% 504 $255K No change
PYPL PayPal Holdings Inc. 0.01% 2,975 $254K No change
PSCT Invesco S&P Smallcap Informa 0.01% 5,230 $250K No change
ZION Zions Bancorp NA 0.01% 4,460 $242K No change
V Visa Inc. Class A 0.01% 724 $229K New
SUSC iShares ESG Aware Usd Corpor 0.01% 10,045 $228K Reduce -13.1%
CGNX Cognex Corp. 0.01% 6,270 $225K No change
VTI VG Morningstar TS MKT ETF-US 0.01% 765 $222K No change
QQQ Invesco QQQ Trust Series 1 0.01% 426 $218K No change
UYG Proshares Ultra Financials 0.01% 2,520 $215K New
IXJ iShares Global Healthcare Et 0.01% 2,396 $206K No change
FCF First Commonwealth Finl Corp. 0.01% 11,685 $198K No change
IA Innovative Solutions & Supp 0.01% 19,395 $166K No change
BDJ BlackRock Enhanced Eqty DVD 0.01% 19,004 $157K No change
NN Nextnav Inc. 0.01% 10,000 $156K New
NNVC Nanoviricides Inc. 0.00% 15,736 $23K No change

Portfolio Sells Q3 2024 → Q4 2024
SOXX iShares Semiconductor ETF Reduce -88.0% 0.10% −0.76
INDA iShares MSCI India ETF Sold out 0.00% −0.64
EMXC iShares MSCI Emr MRK Ex Chna Sold out 0.00% −0.63
IEMG iShares Core MSCI Emerging Reduce -1.7% 3.46% −0.39
VEU Vanguard Ftse All-World Ex-U Reduce -0.2% 2.31% −0.22
XLV SS Health Care Select Sector Reduce -0.4% 1.46% −0.17
VWO Vanguard Ftse Emerging Marke Reduce -7.1% 0.89% −0.15
IHF iShares U.S. Healthcare Prov Reduce -0.1% 0.73% −0.13
QUAL iShares MSCI USA Quality Fac Reduce -1.0% 10.08% −0.12
SW Smurfit Westrock PLC Reduce -47.4% 0.16% −0.12
CAT Caterpillar Inc. Reduce -3.7% 0.86% −0.10
AMTM Amentum Holdings Inc. Sold out 0.00% −0.09
VUSB Vanguard Ultra Short Bond Et Reduce -2.1% 3.25% −0.07
IHI iShares U.S. Medical Devices Reduce -6.8% 0.68% −0.06
HDV iShares Core High Dividend E Reduce -0.1% 0.87% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.9% 1.69% −0.03
IDNA iShares Gen-Immunology HLTH Reduce -0.1% 0.28% −0.02
UNP Union Pacific Corp. Reduce -0.3% 0.29% −0.02
CHIQ Global X MSCI China Consumer Reduce -8.7% 0.08% −0.02
XLI SS Industrial Select Sector Reduce -0.0% 0.73% −0.02
UPS United Parcel Service Class B Sold out 0.00% −0.02
PWV Invesco Large Cap Value ETF Reduce -1.4% 0.45% −0.02
MSFT Microsoft Corp. Reduce -3.0% 0.34% −0.02
BLK BlackRock Finance Inc. Reduce -54.7% 0.01% −0.01
MA Mastercard Inc. Class A Sold out 0.00% −0.01
USMV iShares MSCI USA Min Vol Fac Reduce -1.6% 0.30% −0.01
PBE Invesco Biotechnology & Geno Sold out 0.00% −0.01
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -1.2% 0.55% −0.01
IEFA iShares Core MSCI Eafe ETF Reduce -0.3% 0.09% −0.01
ICLN iShares Global Clean Energy Sold out 0.00% −0.01
IDV iShares International Select Reduce -11.8% 0.04% −0.01
VYM Vanguard High DVD Yield ETF Reduce -0.2% 5.14% −0.01
FBT First Trust Nyse Arca Biotec Sold out 0.00% −0.01
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.01
ADBE Adobe Inc. Reduce -0.6% 0.05% −0.01
EEMA iShares MSCI Emerg MRKT Asia Reduce -3.1% 0.06% −0.01
VHT Vanguard Health Care ETF Reduce -2.3% 0.05% −0.01
ESGE iShares Inc. iShares ESG Awar Reduce -13.3% 0.02% −0.01
SUSL iShares ESG MSCI USA Leaders Reduce -22.3% 0.02% −0.00
DVYE iShares Emerging Markets Div Reduce -7.6% 0.01% −0.00
SUSC iShares ESG Aware Usd Corpor Reduce -13.1% 0.01% −0.00
JBHT Hunt (jb) Transprt SVCS Inc. Reduce -2.3% 0.07% −0.00
CRBN Ish Low Car Opt Ms Ac ETF-US Reduce -8.0% 0.02% −0.00
XVV iShares ESG Select Screened Reduce -3.7% 0.17% −0.00
ILCG iShares Morningstar Growth E Reduce -7.3% 0.03% −0.00
NVDA Nvidia Corp. Reduce -7.3% 0.09% +0.00
FDX FedEx Corp. Reduce -2.0% 0.23% +0.00
J Jacobs Solutions Inc. Reduce -1.5% 0.39% +0.00
MS Morgan Stanley Reduce -0.4% 0.04% +0.01
IWF iShares Russell 1000 Growth Reduce -1.1% 0.18% +0.01

Portfolio Buys Q3 2024 → Q4 2024
EFAV iShares MSCI Eafe Min Vol Fa Add +35.7% 5.32% +1.09
EEMV iShares MSCI Emg MKT Min Vol Add +24.8% 5.92% +0.82
ARTY iShares Future AI & Tech ETF Add +122.4% 1.34% +0.78
GS Goldman Sachs Group Inc. Add +0.5% 1.78% +0.26
IFRA iShares US Infrastructure Add +3.8% 3.26% +0.09
BINC iShares Flex I A ETF-Usd Inc. Add +5.3% 2.87% +0.08
OEF iShares S&P 100 ETF Add +3.9% 0.36% +0.03
BLK BlackRock Inc. New 0.02% +0.02
CINF Cincinnati Financial Corp. New 0.01% +0.01
XT Ishar Fture Exp Tech ETF-Usd Add +8.1% 0.19% +0.01
V Visa Inc. Class A New 0.01% +0.01
UYG Proshares Ultra Financials New 0.01% +0.01
IHAK iShares Cybersecurity & Tech Add +0.8% 0.65% +0.01
NN Nextnav Inc. New 0.01% +0.01
VCSH Vanguard S/T Corp. Bond ETF Add +20.8% 0.03% +0.00
IGSB iShares 1-5Y Inv Grade Corp. Add +1.3% 0.30% 0.00
CSX CSX Corp. Add +5.7% 0.18% −0.00
STBA S & T Bancorp Inc. Add +0.2% 0.04% −0.00
VIG Vanguard Dividend Apprec ETF Add +0.2% 1.01% −0.00
RSP Invesco S&P 500 Equal Weight Add +1.5% 2.24% −0.01
GII State Street SPDR S&P Global Add +1.7% 0.66% −0.01
IQLT iShares MSCI International Q Add +2.4% 1.27% −0.11
VLUE iShares MSCI USA Value Facto Add +0.4% 6.18% −0.14

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