Wharton Business Group, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Wharton Business Group, LLC reported 140 stock positions worth $2.3 billion. Its top holding was iShares MSCI USA Value Facto (VLUE) at 6.6% of the portfolio, followed by iShares MSCI Eafe Min Vol Fa (EFAV, 6.5%) and iShares MSCI Emg MKT Min Vol (EEMV, 6.4%). Compared with Q2 2025, it opened 7 new positions, sold out of 4, added to 15 and reduced 57. The biggest buy was iShares Flex I A ETF-Usd (BINC, shares +15%) and the biggest sale iShares MSCI USA Quality Fac (QUAL, shares −1%).

Most Recent 13F
Q2 2026
Location
MALVERN, PA
CIK
0001513126
Portfolio Value
$2.3B (Q3 2025)
SEC Filing
0001513126-25-000006 ↗ filed Nov 10, 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 Q2 2025 Q3 2025: $2.3B $2.3B Q3 2025 Q4 2025: $2.6B Q4 2025 Q1 2026: $2.6B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 140 stocks · $2.3B
VLUE iShares MSCI USA Value Facto 6.59% 1,206,307 $150.8M Reduce -0.3%
EFAV iShares MSCI Eafe Min Vol Fa 6.55% 1,766,534 $149.9M Reduce -0.2%
EEMV iShares MSCI Emg MKT Min Vol 6.39% 2,290,301 $146.2M Reduce -0.1%
KBWB Invesco KBW Bank ETF 6.27% 1,834,107 $143.4M Reduce -4.2%
VYM Vanguard High DVD Yield ETF 5.49% 892,211 $125.8M Reduce -0.2%
AAPL Apple Inc. 4.85% 436,126 $111.1M Reduce -0.5%
BINC iShares Flex I A ETF-Usd Inc. 4.24% 1,821,020 $97.0M Add +15.0%
IFRA iShares US Infrastructure 3.96% 1,715,140 $90.6M Add +1.1%
IEMG iShares Core MSCI Emerging 3.63% 1,261,907 $83.2M Reduce -0.3%
IVV iShares Core S&P 500 ETF 3.29% 112,599 $75.4M Reduce -0.2%
XLK SS Technology Select Sector 3.18% 257,992 $72.7M Reduce -3.1%
VEU Vanguard Ftse All-World Ex-U 3.04% 973,980 $69.5M Add +9.1%
VUSB Vanguard Ultra Short Bond Et 2.99% 1,367,924 $68.4M Add +4.4%
RSP Invesco S&P 500 Equal Weight 2.37% 286,558 $54.4M Add +0.2%
IWY iShares Russell Top 200 Grow 2.36% 197,394 $54.0M Reduce -0.1%
JPM JPMorgan Chase & Co. 2.30% 167,263 $52.8M Reduce -14.0%
ARTY iShares Future AI & Tech ETF 1.98% 989,042 $45.3M Add +2.4%
BRK.B Berkshire Hathaway Inc. Class B 1.80% 81,997 $41.2M Reduce -0.0%
GS Goldman Sachs Group Inc. 1.75% 50,371 $40.1M Reduce -16.0%
IQLT iShares MSCI International Q 1.48% 767,650 $33.9M Reduce -0.1%
XLV SS Health Care Select Sector 1.42% 233,923 $32.6M Add +0.2%
KBE SS SPDR S&P Bank ETF 1.12% 432,861 $25.7M Reduce -0.6%
VIG Vanguard Dividend Apprec ETF 1.07% 113,708 $24.5M Reduce -0.4%
CAT Caterpillar Inc. 1.03% 49,578 $23.7M Reduce -2.1%
HDV iShares Core High Dividend E 1.02% 190,163 $23.3M Reduce -2.6%
XLF SS Financial Select Sector 0.99% 422,207 $22.7M Add +0.4%
VWO Vanguard Ftse Emerging Marke 0.98% 414,896 $22.5M Reduce -2.1%
CMI Cummins Inc. 0.98% 52,906 $22.3M Reduce -2.2%
PRF Invesco Rafi US 1000 ETF 0.97% 493,135 $22.3M No change
PWB Invesco Large Cap Growth ETF 0.91% 166,409 $20.9M Reduce -1.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.87% 388,178 $20.0M Reduce -3.3%
GII State Street SPDR S&P Global 0.77% 252,085 $17.5M Reduce -0.1%
IHF iShares U.S. Healthcare Prov 0.72% 335,810 $16.6M No change
PWR Quanta Services Inc. 0.71% 39,485 $16.4M Reduce -1.4%
IHAK iShares Cybersecurity & Tech 0.71% 311,700 $16.3M Reduce -2.0%
XT Ishar Fture Exp Tech ETF-Usd 0.64% 202,875 $14.6M No change
XLI SS Industrial Select Sector 0.63% 93,791 $14.5M Reduce -0.3%
IGSB iShares 1-5Y Inv Grade Corp. 0.51% 219,315 $11.6M Add +63.7%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.50% 54,721 $11.4M Reduce -2.8%
PWV Invesco Large Cap Value ETF 0.49% 170,370 $11.1M No change
MCHI iShares MSCI China ETF 0.48% 166,895 $11.0M Reduce -0.8%
EXI iShares Global Industrials E 0.45% 59,070 $10.2M Reduce -0.2%
OEF iShares S&P 100 ETF 0.42% 29,199 $9.7M Reduce -0.8%
CSCO Cisco Systems Inc. 0.42% 140,534 $9.6M No change
J Jacobs Solutions Inc. 0.41% 61,855 $9.3M Reduce -1.8%
MSFT Microsoft Corp. 0.39% 17,421 $9.0M Reduce -1.8%
GOOGL Alphabet Inc. Class A 0.33% 31,236 $7.6M Reduce -9.2%
GM General Motors Co. 0.32% 120,725 $7.4M No change
IDNA iShares Gen-Immunology HLTH 0.29% 285,777 $6.7M Reduce -1.7%
USMV iShares MSCI USA Min Vol Fac 0.28% 67,894 $6.5M Reduce -0.8%
UNP Union Pacific Corp. 0.28% 27,321 $6.5M Reduce -0.8%
C Citigroup Inc. 0.23% 51,438 $5.2M Reduce -0.7%
CSX CSX Corp. 0.20% 126,685 $4.5M No change
TXT Textron Inc. 0.19% 52,320 $4.4M No change
SOXX iShares Semiconductor ETF 0.19% 16,234 $4.4M Reduce -0.7%
IWF iShares Russell 1000 Growth 0.19% 9,249 $4.3M Reduce -1.1%
FDX FedEx Corp. 0.19% 18,111 $4.3M Add +1.2%
EMB iShares JP Morgan Usd Emergi 0.18% 42,170 $4.0M Add +469.9%
XVV iShares ESG Select Screened 0.17% 76,440 $3.9M No change
QUAL iShares MSCI USA Quality Fac 0.13% 1,201,504 $3.0M Reduce -0.8%
NVDA Nvidia Corp. 0.13% 15,711 $2.9M No change
IEFA iShares Core MSCI Eafe ETF 0.12% 30,353 $2.7M Add +0.3%
AMZN Amazon.com Inc. 0.11% 11,509 $2.5M Reduce -0.4%
XPH SS SPDR S&P Pharma ETF 0.11% 51,010 $2.4M Reduce -4.0%
CHIQ Global X MSCI China Consumer 0.10% 98,567 $2.4M No change
CTAS Cintas Corp. 0.10% 10,888 $2.2M No change
ASML ASML Holding NV-NY Reg SHS 0.10% 2,285 $2.2M No change
SW Smurfit Westrock PLC 0.08% 44,572 $1.9M No change
META Meta Platforms Inc. Class A 0.08% 2,427 $1.8M Add +0.1%
SMLF iShares US Smallcap Equity F 0.07% 22,125 $1.6M No change
CNYA iShares MSCI China A ETF 0.07% 43,675 $1.5M New
WFC Wells Fargo & Co. 0.06% 17,675 $1.5M Reduce -0.1%
FXI iShares China Large-Cap ETF 0.06% 31,703 $1.3M Reduce -18.6%
IHI iShares U.S. Medical Devices 0.06% 302,420 $1.3M Reduce -0.1%
EEMA iShares MSCI Emerg MRKT Asia 0.05% 12,987 $1.2M Reduce -3.1%
VHT Vanguard Health Care ETF 0.05% 4,549 $1.2M Reduce -0.2%
DFAC Dimensional US Core Equity 2 0.05% 30,402 $1.2M No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.05% 8,551 $1.1M Reduce -1.9%
GOOG Alphabet Inc. Class C 0.05% 4,586 $1.1M No change
HEEM iShares Crncy Hedgd MSCI Em 0.05% 31,490 $1.1M Reduce -22.4%
ADBE Adobe Inc. 0.04% 2,801 $988K No change
STBA S & T Bancorp Inc. 0.04% 26,157 $983K Add +0.2%
DGRW Wisdomtree U.S. Quality Divi 0.04% 10,345 $920K No change
ORCL Oracle Corp. 0.04% 3,188 $897K Reduce -12.3%
NN Nextnav Inc. 0.04% 56,360 $806K No change
DFAX Dimensional World Ex US Core 0.03% 25,090 $787K No change
VCSH Vanguard S/T Corp. Bond ETF 0.03% 9,850 $787K Add +11.4%
MPB Mid Penn Bancorp Inc. 0.03% 27,108 $776K No change
ILCG iShares Morningstar Growth E 0.03% 7,400 $772K Reduce -83.1%
LMT Lockheed Martin Corp. 0.03% 1,495 $746K No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.03% 5,410 $745K No change
INTU Intuit Inc. 0.03% 1,035 $707K No change
GEV GE Vernova Inc. 0.03% 1,135 $698K No change
ICE Intercontinental Exchange Inc. 0.02% 3,385 $570K No change
VONG Vanguard Russell 1000 Growth 0.02% 4,660 $562K No change
PFF iShares Preferred & Income S 0.02% 17,335 $548K No change
PNC PNC Financial Services Group 0.02% 2,656 $534K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.02% 4,780 $521K No change
MS Morgan Stanley 0.02% 3,259 $518K Reduce -7.3%
LLY Eli Lilly & Co. 0.02% 665 $507K No change
PAYX Paychex Inc. 0.02% 3,715 $471K No change
ADSK Autodesk Inc. 0.02% 1,445 $459K No change
SUSL iShares ESG MSCI USA Leaders 0.02% 3,875 $454K No change
WTV Wisdomtree U.S. Value Fund 0.02% 4,885 $445K No change
CI The Cigna Group 0.02% 1,511 $436K No change
DHR Danaher Corp. 0.02% 2,120 $420K No change
BLK BlackRock Inc. 0.02% 330 $385K Reduce -45.3%
INTC Intel Corp. 0.02% 11,451 $384K Reduce -16.7%
EFV iShares MSCI Eafe Value ETF 0.02% 5,515 $374K Reduce -7.5%
EPP iShares MSCI Pacific Ex Japa 0.02% 7,127 $367K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.02% 1,858 $346K No change
CVX Chevron Corp. 0.02% 2,219 $345K No change
BABA Alibaba Group Holding-SP ADR 0.01% 1,900 $340K No change
JNJ Johnson & Johnson 0.01% 1,813 $336K No change
ACN Accenture PLC Class A 0.01% 1,350 $333K No change
AMGN Amgen Inc. 0.01% 1,172 $331K No change
TXN Texas Instruments Inc. 0.01% 1,715 $315K No change
IWD iShares Russell 1000 Value E 0.01% 1,496 $305K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 2,598 $297K No change
COP Conocophillips 0.01% 3,065 $290K No change
CGNX Cognex Corp. 0.01% 6,270 $284K New
PSCT Invesco S&P Smallcap Informa 0.01% 5,230 $278K No change
SNOW Snowflake Inc. 0.01% 1,180 $266K Reduce -14.2%
PLTR Palantir Technologies Inc. Class A 0.01% 1,450 $265K New
QQQ Invesco QQQ Trust Series 1 0.01% 426 $256K No change
ZION Zions Bancorp NA 0.01% 4,460 $252K No change
VTI VG Morningstar TS MKT ETF-US 0.01% 765 $251K No change
V Visa Inc. Class A 0.01% 724 $247K No change
SPGP Invesco S&P 500 Garp ETF 0.01% 2,165 $246K Reduce -23.5%
IA Innovative Solutions & Supp 0.01% 19,395 $242K No change
COST Costco Wholesale Corp. 0.01% 261 $242K No change
SUSC iShares ESG Aware Usd Corpor 0.01% 10,045 $237K No change
WELL Welltower Inc. 0.01% 1,300 $232K No change
ESGE iShares Inc. iShares ESG Awar 0.01% 4,895 $213K New
ALL Allstate Corp. 0.01% 945 $203K New
VRT Vertiv Holdings Co. Class A 0.01% 1,335 $201K New
IJH iShares Core S&P Midcap ETF 0.01% 3,075 $201K New
FCF First Commonwealth Finl Corp. 0.01% 11,685 $199K No change
BDJ BlackRock Enhanced Eqty DVD 0.01% 19,004 $173K No change
NNVC Nanoviricides Inc. 0.00% 15,736 $23K No change

Portfolio Sells Q2 2025 → Q3 2025
QUAL iShares MSCI USA Quality Fac Reduce -0.8% 0.13% −9.21
IHI iShares U.S. Medical Devices Reduce -0.1% 0.06% −0.74
IDV iShares International Select Sold out 0.00% −0.16
JPM JPMorgan Chase & Co. Reduce -14.0% 2.30% −0.07
GS Goldman Sachs Group Inc. Reduce -16.0% 1.75% −0.03
ILCG iShares Morningstar Growth E Reduce -83.1% 0.03% −0.02
PYPL PayPal Holdings Inc. Sold out 0.00% −0.01
BLK BlackRock Inc. Reduce -45.3% 0.02% −0.01
IXJ iShares Global Healthcare Et Sold out 0.00% −0.01
BKNG Booking Holdings Inc. Sold out 0.00% −0.01
HEEM iShares Crncy Hedgd MSCI Em Reduce -22.4% 0.05% −0.01
JBHT Hunt (jb) Transprt SVCS Inc. Reduce -1.9% 0.05% −0.00
SPGP Invesco S&P 500 Garp ETF Reduce -23.5% 0.01% −0.00
FXI iShares China Large-Cap ETF Reduce -18.6% 0.06% −0.00
IHAK iShares Cybersecurity & Tech Reduce -2.0% 0.71% −0.00
SNOW Snowflake Inc. Reduce -14.2% 0.01% −0.00
EFV iShares MSCI Eafe Value ETF Reduce -7.5% 0.02% +0.00
MS Morgan Stanley Reduce -7.3% 0.02% +0.00
VHT Vanguard Health Care ETF Reduce -0.2% 0.05% +0.00
AMZN Amazon.com Inc. Reduce -0.4% 0.11% +0.00
INTC Intel Corp. Reduce -16.7% 0.02% +0.00
WFC Wells Fargo & Co. Reduce -0.1% 0.06% +0.00
EEMA iShares MSCI Emerg MRKT Asia Reduce -3.1% 0.05% +0.01
ORCL Oracle Corp. Reduce -12.3% 0.04% +0.01
USMV iShares MSCI USA Min Vol Fac Reduce -0.8% 0.28% +0.01
UNP Union Pacific Corp. Reduce -0.8% 0.28% +0.01
XPH SS SPDR S&P Pharma ETF Reduce -4.0% 0.11% +0.02
IWF iShares Russell 1000 Growth Reduce -1.1% 0.19% +0.02
MSFT Microsoft Corp. Reduce -1.8% 0.39% +0.02
SOXX iShares Semiconductor ETF Reduce -0.7% 0.19% +0.03
EXI iShares Global Industrials E Reduce -0.2% 0.45% +0.03
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -2.8% 0.50% +0.04
C Citigroup Inc. Reduce -0.7% 0.23% +0.04
IDNA iShares Gen-Immunology HLTH Reduce -1.7% 0.29% +0.04
XLI SS Industrial Select Sector Reduce -0.3% 0.63% +0.05
GII State Street SPDR S&P Global Reduce -0.1% 0.77% +0.05
OEF iShares S&P 100 ETF Reduce -0.8% 0.42% +0.05
HDV iShares Core High Dividend E Reduce -2.6% 1.02% +0.05
J Jacobs Solutions Inc. Reduce -1.8% 0.41% +0.06
BAC Bank of America Corp. Reduce -3.3% 0.87% +0.07
PWR Quanta Services Inc. Reduce -1.4% 0.71% +0.08
GOOGL Alphabet Inc. Class A Reduce -9.2% 0.33% +0.08
IQLT iShares MSCI International Q Reduce -0.1% 1.48% +0.08
VIG Vanguard Dividend Apprec ETF Reduce -0.4% 1.07% +0.09
MCHI iShares MSCI China ETF Reduce -0.8% 0.48% +0.09
KBE SS SPDR S&P Bank ETF Reduce -0.6% 1.12% +0.10
VWO Vanguard Ftse Emerging Marke Reduce -2.1% 0.98% +0.10
PWB Invesco Large Cap Growth ETF Reduce -1.0% 0.91% +0.11
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.0% 1.80% +0.12
CAT Caterpillar Inc. Reduce -2.1% 1.03% +0.21

Portfolio Buys Q2 2025 → Q3 2025
BINC iShares Flex I A ETF-Usd Inc. Add +15.0% 4.24% +0.71
VEU Vanguard Ftse All-World Ex-U Add +9.1% 3.04% +0.50
IFRA iShares US Infrastructure Add +1.1% 3.96% +0.44
ARTY iShares Future AI & Tech ETF Add +2.4% 1.98% +0.31
VUSB Vanguard Ultra Short Bond Et Add +4.4% 2.99% +0.23
IGSB iShares 1-5Y Inv Grade Corp. Add +63.7% 0.51% +0.21
RSP Invesco S&P 500 Equal Weight Add +0.2% 2.37% +0.18
EMB iShares JP Morgan Usd Emergi Add +469.9% 0.18% +0.15
XLV SS Health Care Select Sector Add +0.2% 1.42% +0.09
CNYA iShares MSCI China A ETF New 0.07% +0.07
XLF SS Financial Select Sector Add +0.4% 0.99% +0.06
FDX FedEx Corp. Add +1.2% 0.19% +0.01
CGNX Cognex Corp. New 0.01% +0.01
PLTR Palantir Technologies Inc. Class A New 0.01% +0.01
ESGE iShares Inc. iShares ESG Awar New 0.01% +0.01
IEFA iShares Core MSCI Eafe ETF Add +0.3% 0.12% +0.01
ALL Allstate Corp. New 0.01% +0.01
IJH iShares Core S&P Midcap ETF New 0.01% +0.01
VRT Vertiv Holdings Co. Class A New 0.01% +0.01
VCSH Vanguard S/T Corp. Bond ETF Add +11.4% 0.03% +0.00
META Meta Platforms Inc. Class A Add +0.1% 0.08% +0.00
STBA S & T Bancorp Inc. Add +0.2% 0.04% +0.00

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