Wharton Business Group, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Wharton Business Group, LLC reported 137 stock positions worth $2.4 billion. Its top holding was iShares MSCI USA Quality Fac (QUAL) at 9.3% of the portfolio, followed by iShares MSCI Eafe Min Vol Fa (EFAV, 6.3%) and iShares MSCI Emg MKT Min Vol (EEMV, 6.1%). Compared with Q1 2025, it opened 6 new positions, sold out of 6, added to 44 and reduced 42. The biggest buy was Invesco KBW Bank ETF (KBWB, shares +7%) and the biggest sale iShares MSCI USA Value Facto (VLUE, shares −7%).

Most Recent 13F
Q2 2026
Location
MALVERN, PA
CIK
0001513126
Portfolio Value
$2.4B (Q2 2025)
SEC Filing
0001513126-25-000005 ↗ filed Aug 14, 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 Q4 2024 Q1 2025: $2.2B Q1 2025 Q2 2025: $2.4B $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 · $2.4B
QUAL iShares MSCI USA Quality Fac 9.34% 1,211,543 $221.3M Reduce -3.2%
EFAV iShares MSCI Eafe Min Vol Fa 6.27% 1,770,694 $148.6M Add +4.9%
EEMV iShares MSCI Emg MKT Min Vol 6.07% 2,292,021 $143.9M Add +0.2%
KBWB Invesco KBW Bank ETF 5.78% 1,914,019 $136.9M Add +6.6%
VLUE iShares MSCI USA Value Facto 5.77% 1,210,442 $136.8M Reduce -7.0%
VYM Vanguard High DVD Yield ETF 5.03% 894,315 $119.2M Add +0.4%
AAPL Apple Inc. 3.80% 438,241 $90.0M Add +0.4%
BINC iShares Flex I A ETF-Usd Inc. 3.53% 1,583,135 $83.7M Add +2.1%
IFRA iShares US Infrastructure 3.52% 1,695,780 $83.4M Add +2.4%
IEMG iShares Core MSCI Emerging 3.20% 1,266,357 $75.8M Reduce -13.1%
IVV iShares Core S&P 500 ETF 2.96% 112,839 $70.1M Add +19.2%
XLK SS Technology Select Sector 2.83% 266,207 $67.0M Reduce -6.2%
VUSB Vanguard Ultra Short Bond Et 2.76% 1,310,019 $65.3M Reduce -5.4%
VEU Vanguard Ftse All-World Ex-U 2.53% 893,094 $60.0M Reduce -0.0%
JPM JPMorgan Chase & Co. 2.38% 194,443 $56.3M Reduce -9.7%
RSP Invesco S&P 500 Equal Weight 2.19% 285,873 $52.0M Add +0.9%
IWY iShares Russell Top 200 Grow 2.06% 197,634 $48.7M Add +0.9%
GS Goldman Sachs Group Inc. 1.79% 59,946 $42.3M Reduce -12.8%
BRK.B Berkshire Hathaway Inc. Class B 1.68% 82,032 $39.8M Reduce -0.4%
ARTY iShares Future AI & Tech ETF 1.67% 966,302 $39.6M Add +13.4%
IQLT iShares MSCI International Q 1.40% 768,335 $33.2M Add +1.7%
XLV SS Health Care Select Sector 1.33% 233,483 $31.6M Reduce -1.0%
KBE SS SPDR S&P Bank ETF 1.02% 435,481 $24.2M Add +7.3%
VIG Vanguard Dividend Apprec ETF 0.99% 114,183 $23.4M Reduce -1.1%
HDV iShares Core High Dividend E 0.97% 195,333 $22.9M Add +14.3%
XLF SS Financial Select Sector 0.93% 420,672 $22.0M Reduce -0.8%
PRF Invesco Rafi US 1000 ETF 0.88% 493,135 $20.8M No change
VWO Vanguard Ftse Emerging Marke 0.88% 423,989 $20.8M Reduce -2.2%
CAT Caterpillar Inc. 0.82% 50,658 $19.5M Reduce -3.6%
PWB Invesco Large Cap Growth ETF 0.81% 168,139 $19.1M Add +0.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.80% 401,477 $19.0M Reduce -0.0%
IHI iShares U.S. Medical Devices 0.80% 302,630 $18.9M Add +15.4%
CMI Cummins Inc. 0.75% 54,086 $17.7M Reduce -3.6%
GII State Street SPDR S&P Global 0.72% 252,220 $17.0M Add +1.4%
IHAK iShares Cybersecurity & Tech 0.71% 318,135 $16.9M Reduce -0.1%
IHF iShares U.S. Healthcare Prov 0.69% 335,810 $16.3M Add +0.2%
PWR Quanta Services Inc. 0.64% 40,055 $15.1M Reduce -26.2%
XLI SS Industrial Select Sector 0.59% 94,116 $13.9M Reduce -23.1%
XT Ishar Fture Exp Tech ETF-Usd 0.56% 202,875 $13.2M Add +189.9%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.46% 56,305 $11.0M Reduce -9.6%
PWV Invesco Large Cap Value ETF 0.45% 170,370 $10.6M Reduce -4.9%
EXI iShares Global Industrials E 0.41% 59,190 $9.8M Reduce -30.1%
CSCO Cisco Systems Inc. 0.41% 140,534 $9.8M Add +0.3%
MCHI iShares MSCI China ETF 0.39% 168,235 $9.3M No change
OEF iShares S&P 100 ETF 0.37% 29,449 $8.9M Add +6.8%
MSFT Microsoft Corp. 0.37% 17,741 $8.8M Add +1.4%
J Jacobs Solutions Inc. 0.35% 63,000 $8.3M Reduce -3.3%
IGSB iShares 1-5Y Inv Grade Corp. 0.30% 133,950 $7.1M Add +4.0%
USMV iShares MSCI USA Min Vol Fac 0.27% 68,473 $6.4M Reduce -4.2%
UNP Union Pacific Corp. 0.27% 27,536 $6.3M Add +5.0%
IDNA iShares Gen-Immunology HLTH 0.25% 290,727 $6.0M Add +1.8%
GOOGL Alphabet Inc. Class A 0.25% 34,396 $6.0M Add +0.5%
GM General Motors Co. 0.25% 120,725 $5.9M No change
C Citigroup Inc. 0.19% 51,823 $4.4M Reduce -0.1%
TXT Textron Inc. 0.18% 52,320 $4.2M No change
CSX CSX Corp. 0.17% 126,685 $4.1M No change
FDX FedEx Corp. 0.17% 17,891 $4.1M Add +1.8%
IWF iShares Russell 1000 Growth 0.17% 9,349 $4.0M Add +0.7%
SOXX iShares Semiconductor ETF 0.16% 16,349 $3.9M Add +1.2%
IDV iShares International Select 0.16% 42,170 $3.9M Add +33.1%
XVV iShares ESG Select Screened 0.15% 76,440 $3.6M Add +1.2%
AMZN Amazon.com Inc. 0.11% 11,555 $2.5M Add +7.2%
IEFA iShares Core MSCI Eafe ETF 0.11% 30,263 $2.5M Add +6.3%
NVDA Nvidia Corp. 0.10% 15,711 $2.5M Add +11.0%
CTAS Cintas Corp. 0.10% 10,888 $2.4M New
XPH SS SPDR S&P Pharma ETF 0.09% 53,115 $2.2M Add +10.2%
CHIQ Global X MSCI China Consumer 0.09% 98,567 $2.1M No change
SW Smurfit Westrock PLC 0.08% 44,572 $1.9M Reduce -8.9%
ASML ASML Holding NV-NY Reg SHS 0.08% 2,285 $1.8M Reduce -2.4%
META Meta Platforms Inc. Class A 0.08% 2,424 $1.8M No change
SMLF iShares US Smallcap Equity F 0.06% 22,125 $1.5M No change
WFC Wells Fargo & Co. 0.06% 17,695 $1.4M No change
FXI iShares China Large-Cap ETF 0.06% 38,953 $1.4M No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.05% 8,716 $1.3M Reduce -6.5%
ILCG iShares Morningstar Growth E 0.05% 43,675 $1.3M Add +490.2%
HEEM iShares Crncy Hedgd MSCI Em 0.05% 40,595 $1.2M No change
VHT Vanguard Health Care ETF 0.05% 4,559 $1.2M Add +0.7%
EEMA iShares MSCI Emerg MRKT Asia 0.05% 13,397 $1.1M Reduce -25.1%
DFAC Dimensional US Core Equity 2 0.05% 30,402 $1.1M New
ADBE Adobe Inc. 0.05% 2,801 $1.1M Add +17.3%
STBA S & T Bancorp Inc. 0.04% 26,105 $979K Add +0.2%
DGRW Wisdomtree U.S. Quality Divi 0.04% 10,345 $866K No change
NN Nextnav Inc. 0.04% 56,360 $857K No change
INTU Intuit Inc. 0.03% 1,035 $815K No change
GOOG Alphabet Inc. Class C 0.03% 4,586 $814K Add +24.3%
ORCL Oracle Corp. 0.03% 3,633 $794K Reduce -15.7%
MPB Mid Penn Bancorp Inc. 0.03% 27,108 $764K Reduce -67.9%
DFAX Dimensional World Ex US Core 0.03% 25,090 $737K New
EMB iShares JP Morgan Usd Emergi 0.03% 7,400 $717K Reduce -82.5%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.03% 5,410 $710K No change
VCSH Vanguard S/T Corp. Bond ETF 0.03% 8,845 $703K Add +8.6%
LMT Lockheed Martin Corp. 0.03% 1,495 $692K No change
ICE Intercontinental Exchange Inc. 0.03% 3,385 $621K Reduce -2.2%
BLK BlackRock Inc. 0.03% 603 $605K Add +82.7%
GEV GE Vernova Inc. 0.03% 1,135 $601K Reduce -0.3%
PAYX Paychex Inc. 0.02% 3,715 $540K No change
PFF iShares Preferred & Income S 0.02% 17,335 $532K Reduce -39.4%
LLY Eli Lilly & Co. 0.02% 665 $518K No change
VONG Vanguard Russell 1000 Growth 0.02% 4,660 $509K No change
CI The Cigna Group 0.02% 1,511 $500K Add +0.7%
MS Morgan Stanley 0.02% 3,514 $495K Reduce -44.5%
PNC PNC Financial Services Group 0.02% 2,656 $477K No change
ADSK Autodesk Inc. 0.02% 1,445 $447K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.02% 4,780 $436K No change
DHR Danaher Corp. 0.02% 2,120 $433K No change
WTV Wisdomtree U.S. Value Fund 0.02% 4,885 $422K No change
SUSL iShares ESG MSCI USA Leaders 0.02% 3,875 $420K No change
ACN Accenture PLC Class A 0.02% 1,350 $404K No change
EFV iShares MSCI Eafe Value ETF 0.02% 5,960 $378K No change
TXN Texas Instruments Inc. 0.01% 1,715 $356K No change
EPP iShares MSCI Pacific Ex Japa 0.01% 7,127 $352K Reduce -5.8%
VTV Vanguard Mrngstr Val ETF-Aui 0.01% 1,858 $328K No change
AMGN Amgen Inc. 0.01% 1,172 $327K Reduce -0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 2,598 $322K Reduce -4.2%
CVX Chevron Corp. 0.01% 2,219 $318K No change
INTC Intel Corp. 0.01% 13,751 $308K No change
SNOW Snowflake Inc. 0.01% 1,375 $308K Reduce -12.4%
SPGP Invesco S&P 500 Garp ETF 0.01% 2,830 $305K No change
IWD iShares Russell 1000 Value E 0.01% 1,496 $291K Add +3.8%
JNJ Johnson & Johnson 0.01% 1,813 $277K Reduce -35.5%
COP Conocophillips 0.01% 3,065 $275K No change
IA Innovative Solutions & Supp 0.01% 19,395 $269K No change
COST Costco Wholesale Corp. 0.01% 261 $259K New
V Visa Inc. Class A 0.01% 724 $257K No change
QQQ Invesco QQQ Trust Series 1 0.01% 426 $235K No change
SUSC iShares ESG Aware Usd Corpor 0.01% 10,045 $233K No change
VTI VG Morningstar TS MKT ETF-US 0.01% 765 $233K No change
ZION Zions Bancorp NA 0.01% 4,460 $232K No change
PSCT Invesco S&P Smallcap Informa 0.01% 5,230 $226K No change
PYPL PayPal Holdings Inc. 0.01% 2,975 $221K New
BABA Alibaba Group Holding-SP ADR 0.01% 1,900 $215K No change
IXJ iShares Global Healthcare Et 0.01% 2,396 $206K No change
BKNG Booking Holdings Inc. 0.01% 35 $203K New
WELL Welltower Inc. 0.01% 1,300 $200K Reduce -49.1%
FCF First Commonwealth Finl Corp. 0.01% 11,685 $190K No change
BDJ BlackRock Enhanced Eqty DVD 0.01% 19,004 $169K No change
NNVC Nanoviricides Inc. 0.00% 15,736 $22K No change

Portfolio Sells Q1 2025 → Q2 2025
VLUE iShares MSCI USA Value Facto Reduce -7.0% 5.77% −0.51
VUSB Vanguard Ultra Short Bond Et Reduce -5.4% 2.76% −0.37
IEMG iShares Core MSCI Emerging Reduce -13.1% 3.20% −0.35
QUAL iShares MSCI USA Quality Fac Reduce -3.2% 9.34% −0.34
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.4% 1.68% −0.30
XLV SS Health Care Select Sector Reduce -1.0% 1.33% −0.22
EXI iShares Global Industrials E Reduce -30.1% 0.41% −0.14
EMB iShares JP Morgan Usd Emergi Reduce -82.5% 0.03% −0.14
XLI SS Industrial Select Sector Reduce -23.1% 0.59% −0.14
MPB Mid Penn Bancorp Inc. Reduce -67.9% 0.03% −0.07
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -9.6% 0.46% −0.06
CNYA iShares MSCI China A ETF Sold out 0.00% −0.06
CMI Cummins Inc. Reduce -3.6% 0.75% −0.05
PWV Invesco Large Cap Value ETF Reduce -4.9% 0.45% −0.04
VIG Vanguard Dividend Apprec ETF Reduce -1.1% 0.99% −0.03
XLF SS Financial Select Sector Reduce -0.8% 0.93% −0.03
USMV iShares MSCI USA Min Vol Fac Reduce -4.2% 0.27% −0.03
SW Smurfit Westrock PLC Reduce -8.9% 0.08% −0.02
PFF iShares Preferred & Income S Reduce -39.4% 0.02% −0.02
CINF Cincinnati Financial Corp. Sold out 0.00% −0.02
JPM JPMorgan Chase & Co. Reduce -9.7% 2.38% −0.01
DVYE iShares Emerging Markets Div Sold out 0.00% −0.01
EEMA iShares MSCI Emerg MRKT Asia Reduce -25.1% 0.05% −0.01
MS Morgan Stanley Reduce -44.5% 0.02% −0.01
UNH Unitedhealth Group Inc. Sold out 0.00% −0.01
JBHT Hunt (jb) Transprt SVCS Inc. Reduce -6.5% 0.05% −0.01
ESGE iShares Inc. iShares ESG Awar Sold out 0.00% −0.01
JNJ Johnson & Johnson Reduce -35.5% 0.01% −0.01
FBT First Trust Nyse Arca Biotec Sold out 0.00% −0.01
WELL Welltower Inc. Reduce -49.1% 0.01% −0.01
VWO Vanguard Ftse Emerging Marke Reduce -2.2% 0.88% −0.01
J Jacobs Solutions Inc. Reduce -3.3% 0.35% −0.01
AMGN Amgen Inc. Reduce -0.3% 0.01% −0.00
ICE Intercontinental Exchange Inc. Reduce -2.2% 0.03% −0.00
EPP iShares MSCI Pacific Ex Japa Reduce -5.8% 0.01% −0.00
DIS The Walt Disney Co. Reduce -4.2% 0.01% +0.00
SNOW Snowflake Inc. Reduce -12.4% 0.01% +0.00
ORCL Oracle Corp. Reduce -15.7% 0.03% +0.01
ASML ASML Holding NV-NY Reg SHS Reduce -2.4% 0.08% +0.01
GEV GE Vernova Inc. Reduce -0.3% 0.03% +0.01
PWR Quanta Services Inc. Reduce -26.2% 0.64% +0.01
C Citigroup Inc. Reduce -0.1% 0.19% +0.02
IHAK iShares Cybersecurity & Tech Reduce -0.1% 0.71% +0.04
CAT Caterpillar Inc. Reduce -3.6% 0.82% +0.04
BAC Bank of America Corp. Reduce -0.0% 0.80% +0.04
VEU Vanguard Ftse All-World Ex-U Reduce -0.0% 2.53% +0.08
GS Goldman Sachs Group Inc. Reduce -12.8% 1.79% +0.09
XLK SS Technology Select Sector Reduce -6.2% 2.83% +0.17

Portfolio Buys Q1 2025 → Q2 2025
KBWB Invesco KBW Bank ETF Add +6.6% 5.78% +0.67
IVV iShares Core S&P 500 ETF Add +19.2% 2.96% +0.55
ARTY iShares Future AI & Tech ETF Add +13.4% 1.67% +0.46
XT Ishar Fture Exp Tech ETF-Usd Add +189.9% 0.56% +0.38
EFAV iShares MSCI Eafe Min Vol Fa Add +4.9% 6.27% +0.33
IWY iShares Russell Top 200 Grow Add +0.9% 2.06% +0.19
IFRA iShares US Infrastructure Add +2.4% 3.52% +0.14
IDV iShares International Select Add +33.1% 0.16% +0.12
CTAS Cintas Corp. New 0.10% +0.10
IHI iShares U.S. Medical Devices Add +15.4% 0.80% +0.09
MSFT Microsoft Corp. Add +1.4% 0.37% +0.08
PWB Invesco Large Cap Growth ETF Add +0.2% 0.81% +0.07
KBE SS SPDR S&P Bank ETF Add +7.3% 1.02% +0.05
DFAC Dimensional US Core Equity 2 New 0.05% +0.05
IQLT iShares MSCI International Q Add +1.7% 1.40% +0.04
OEF iShares S&P 100 ETF Add +6.8% 0.37% +0.04
NVDA Nvidia Corp. Add +11.0% 0.10% +0.04
EEMV iShares MSCI Emg MKT Min Vol Add +0.2% 6.07% +0.03
DFAX Dimensional World Ex US Core New 0.03% +0.03
HDV iShares Core High Dividend E Add +14.3% 0.97% +0.03
SOXX iShares Semiconductor ETF Add +1.2% 0.16% +0.03
ILCG iShares Morningstar Growth E Add +490.2% 0.05% +0.03
CSCO Cisco Systems Inc. Add +0.3% 0.41% +0.02
GII State Street SPDR S&P Global Add +1.4% 0.72% +0.02
IWF iShares Russell 1000 Growth Add +0.7% 0.17% +0.02
AMZN Amazon.com Inc. Add +7.2% 0.11% +0.01
BLK BlackRock Inc. Add +82.7% 0.03% +0.01
COST Costco Wholesale Corp. New 0.01% +0.01
PYPL PayPal Holdings Inc. New 0.01% +0.01
IEFA iShares Core MSCI Eafe ETF Add +6.3% 0.11% +0.01
BKNG Booking Holdings Inc. New 0.01% +0.01
GOOG Alphabet Inc. Class C Add +24.3% 0.03% +0.01
XVV iShares ESG Select Screened Add +1.2% 0.15% +0.01
GOOGL Alphabet Inc. Class A Add +0.5% 0.25% +0.00
ADBE Adobe Inc. Add +17.3% 0.05% +0.00
VCSH Vanguard S/T Corp. Bond ETF Add +8.6% 0.03% +0.00
IWD iShares Russell 1000 Value E Add +3.8% 0.01% 0.00
CI The Cigna Group Add +0.7% 0.02% −0.00
STBA S & T Bancorp Inc. Add +0.2% 0.04% −0.00
VHT Vanguard Health Care ETF Add +0.7% 0.05% −0.00
XPH SS SPDR S&P Pharma ETF Add +10.2% 0.09% −0.00
IGSB iShares 1-5Y Inv Grade Corp. Add +4.0% 0.30% −0.01
UNP Union Pacific Corp. Add +5.0% 0.27% −0.01
IDNA iShares Gen-Immunology HLTH Add +1.8% 0.25% −0.01
FDX FedEx Corp. Add +1.8% 0.17% −0.02
RSP Invesco S&P 500 Equal Weight Add +0.9% 2.19% −0.03
IHF iShares U.S. Healthcare Prov Add +0.2% 0.69% −0.11
BINC iShares Flex I A ETF-Usd Inc. Add +2.1% 3.53% −0.14
VYM Vanguard High DVD Yield ETF Add +0.4% 5.03% −0.17
AAPL Apple Inc. Add +0.4% 3.80% −0.59

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