Zhang Financial LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 1, 2025), Zhang Financial LLC reported 290 stock positions worth $2.2 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 7.7% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 7.7%) and Dimensional US Eq MKT ETF (DFUS, 7.4%). Compared with Q1 2025, it opened 18 new positions, sold out of 28, added to 138 and reduced 102. The biggest buy was iShares Core S&P Total U.S. (ITOT, shares +19%) and the biggest sale Dimensional US Eq MKT ETF (DFUS, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- PORTAGE, MI
- CIK
- 0001776290
- Portfolio Value
- $2.2B (Q2 2025)
- SEC Filing
- 0001776290-25-000005 ↗ filed Aug 1, 2025
Holdings Value
Holdings 290 stocks · $2.2B
| VOO Vanguard S&P 500 ETF | 7.70% | 293,637 | $166.8M | Add +1.6% |
| VTI VG Morningstar TS MKT ETF-US | 7.66% | 546,016 | $166.0M | Add +11.8% |
| DFUS Dimensional US Eq MKT ETF | 7.41% | 2,396,803 | $160.6M | Reduce -4.4% |
| ITOT iShares Core S&P Total U.S. | 5.47% | 878,592 | $118.6M | Add +18.9% |
| DFAC Dimensional US Core Equity 2 | 5.31% | 3,208,908 | $115.0M | Add +1.9% |
| VXUS Vanguard Total Intl Stock | 4.98% | 1,562,593 | $108.0M | Add +6.3% |
| VT Vanguard Tot World STK ETF | 4.12% | 694,534 | $89.3M | Add +12.4% |
| BIV Vanguard Intermediate-Term B | 2.87% | 804,530 | $62.2M | Add +21.8% |
| DFAI Dimensional International Co. | 2.77% | 1,736,995 | $60.0M | Add +4.6% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 2.13% | 236,780 | $46.2M | Reduce -3.4% |
| SYK Stryker Corp. | 2.08% | 113,921 | $45.1M | Reduce -0.3% |
| BND Vanguard Total Bond Market | 2.00% | 588,859 | $43.4M | Add +2.4% |
| AAPL Apple Inc. | 1.91% | 202,137 | $41.5M | Add +1.2% |
| VYM Vanguard High DVD Yield ETF | 1.82% | 295,417 | $39.4M | Add +3.0% |
| BKLC BNY Mellon US LRG Cap Cor | 1.67% | 305,121 | $36.1M | Add +8.2% |
| MSFT Microsoft Corp. | 1.43% | 62,156 | $30.9M | Add +1.2% |
| IAU iShares Gold Trust | 1.36% | 473,763 | $29.5M | Reduce -0.3% |
| DFAU Dimensional US Core Equity M | 1.23% | 627,018 | $26.6M | Add +40.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.21% | 329,709 | $26.2M | Add +7.2% |
| NVDA Nvidia Corp. | 1.01% | 138,005 | $21.8M | Reduce -12.8% |
| AGG iShares Core U.S. Aggregate | 1.00% | 219,467 | $21.8M | Add +51.2% |
| AVDE Avantis International Equity | 1.00% | 292,764 | $21.7M | Add +12.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.00% | 77,220 | $21.6M | Add +10.1% |
| VOOV Vanguard S&P 500 Value ETF | 0.93% | 106,781 | $20.2M | Reduce -2.0% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.88% | 254,896 | $19.1M | Reduce -4.4% |
| IBIT iShares Bitcoin Trust ETF | 0.87% | 308,752 | $18.9M | Reduce -0.7% |
| DFSV Dimensional US Small Cap Val | 0.85% | 628,904 | $18.5M | Reduce -9.9% |
| IWN iShares Russell 2000 Value E | 0.76% | 105,009 | $16.6M | Add +1.7% |
| IVV iShares Core S&P 500 ETF | 0.76% | 26,633 | $16.5M | Add +6.1% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.76% | 44,886 | $16.4M | Add +3.1% |
| AVUS Avantis U.S. Equity ETF | 0.70% | 149,826 | $15.1M | Reduce -3.1% |
| VEA Vanguard Ftse Developed ETF | 0.66% | 252,643 | $14.4M | Add +56.3% |
| SCHB Schwab US Broad Market ETF | 0.62% | 568,259 | $13.5M | Add +15.6% |
| AMZN Amazon.com Inc. | 0.59% | 58,603 | $12.9M | Add +1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 24,587 | $11.9M | Reduce -0.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.52% | 64,065 | $11.3M | Add +7.3% |
| SCHF Schwab Intl Equity ETF | 0.52% | 510,143 | $11.3M | Add +16.7% |
| VWO Vanguard Ftse Emerging Marke | 0.51% | 223,119 | $11.0M | Add +3.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.50% | 17,654 | $10.9M | Add +5.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.50% | 24,724 | $10.8M | Add +73.4% |
| META Meta Platforms Inc. Class A | 0.45% | 13,274 | $9.8M | Add +4.4% |
| GOOGL Alphabet Inc. Class A | 0.45% | 55,177 | $9.7M | Add +1.0% |
| AVUV Avantis US Small Cap Value | 0.41% | 96,446 | $8.8M | Add +144.0% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.38% | 153,067 | $8.3M | Add +7.4% |
| SUB iShares Short-Term National | 0.35% | 70,902 | $7.5M | Reduce -0.5% |
| FERG Ferguson Enterprises Inc. | 0.32% | 31,734 | $6.9M | New |
| GLDM SPDR Gold Minishares Trust | 0.32% | 104,889 | $6.9M | Add +0.6% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.31% | 106,711 | $6.7M | Add +26.1% |
| SPAB SS SPDR P Agg Bond ETF | 0.28% | 237,976 | $6.1M | Add +8.3% |
| AVGO Broadcom Inc. | 0.27% | 21,487 | $5.9M | Reduce -2.2% |
| DFAS Dimensional US Small Cap ETF | 0.26% | 88,754 | $5.7M | Reduce -3.3% |
| JPM JPMorgan Chase & Co. | 0.26% | 19,442 | $5.6M | Add +0.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 19,081 | $5.6M | Reduce -0.1% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.26% | 24,724 | $5.6M | Reduce -14.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.25% | 9,919 | $5.5M | Add +24.0% |
| IXUS iShares Core Intl Stock ETF | 0.24% | 67,763 | $5.2M | Add +5.1% |
| VNQ Vanguard Real Estate ETF | 0.22% | 53,963 | $4.8M | Reduce -4.7% |
| ABBV Abbvie Inc. | 0.21% | 24,591 | $4.6M | Add +1.6% |
| EFV iShares MSCI Eafe Value ETF | 0.21% | 70,729 | $4.5M | Reduce -0.2% |
| AMGN Amgen Inc. | 0.21% | 15,934 | $4.4M | Reduce -2.5% |
| CSCO Cisco Systems Inc. | 0.20% | 64,023 | $4.4M | Reduce -0.1% |
| MU Micron Technology Inc. | 0.20% | 35,655 | $4.4M | Add +1.3% |
| VONG Vanguard Russell 1000 Growth | 0.20% | 40,045 | $4.4M | Add +7.8% |
| VONE Vanguard Russell 1000 | 0.20% | 15,490 | $4.4M | Reduce -3.9% |
| VGT Vanguard Info Tech ETF | 0.19% | 6,264 | $4.2M | Add +12.3% |
| GS Goldman Sachs Group Inc. | 0.19% | 5,843 | $4.1M | Add +1.6% |
| VIG Vanguard Dividend Apprec ETF | 0.19% | 20,122 | $4.1M | Add +0.9% |
| PG The Procter & Gamble Co. | 0.19% | 25,786 | $4.1M | Add +7.5% |
| KLAC KLA Corp. | 0.19% | 4,497 | $4.0M | Reduce -1.8% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.18% | 49,942 | $4.0M | Reduce -0.2% |
| CAT Caterpillar Inc. | 0.18% | 10,292 | $4.0M | Reduce -1.8% |
| AXP American Express Co. | 0.18% | 12,233 | $3.9M | Add +2.0% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.18% | 29,540 | $3.9M | Reduce -0.9% |
| ICSH iShares Ultra Short Duration | 0.17% | 73,512 | $3.7M | Add +61.2% |
| IWV iShares Russell 3000 ETF | 0.17% | 10,264 | $3.6M | Reduce -0.9% |
| TSLA Tesla Inc. | 0.17% | 11,271 | $3.6M | Add +3.1% |
| APO Apollo Global Management Inc. | 0.16% | 25,057 | $3.6M | Reduce -2.7% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.16% | 12,076 | $3.4M | Add +291.2% |
| HFFG HF Foods Group Inc. | 0.16% | 1,063,342 | $3.4M | Reduce -4.3% |
| MUB iShares National Muni Bond E | 0.15% | 32,117 | $3.4M | Reduce -45.6% |
| VONV Vanguard Russell 1000 Value | 0.15% | 38,400 | $3.3M | Add +17.8% |
| AIT Applied Industrial Tech Inc. | 0.15% | 13,793 | $3.2M | No change |
| PH Parker Hannifin Corp. | 0.14% | 4,350 | $3.0M | Add +221.5% |
| BKIE BNY Mellon Intl Eqty ETF | 0.14% | 35,029 | $3.0M | Add +2.7% |
| XOM Exxon Mobil Corp. | 0.14% | 27,587 | $3.0M | Add +2.1% |
| VOOG Vanguard S&P 500 Growth ETF | 0.14% | 7,484 | $3.0M | Add +7.7% |
| DFUV Dimensional US Marketwide Va | 0.14% | 69,684 | $2.9M | Reduce -0.9% |
| HON Honeywell International Inc. | 0.14% | 12,571 | $2.9M | Add +0.0% |
| SPTS SS SPDR P St Term TSY ETF | 0.13% | 96,802 | $2.8M | Reduce -2.0% |
| WMT Walmart Inc. | 0.13% | 27,803 | $2.7M | Add +1.6% |
| CRM Salesforce Inc. | 0.13% | 9,938 | $2.7M | Add +5.5% |
| JNJ Johnson & Johnson | 0.12% | 17,541 | $2.7M | Reduce -0.3% |
| SCHM Schwab US Mid Cap ETF | 0.12% | 94,923 | $2.7M | Reduce -17.6% |
| GOOG Alphabet Inc. Class C | 0.12% | 14,976 | $2.7M | Add +0.8% |
| PEP Pepsico Inc. | 0.12% | 19,762 | $2.6M | Reduce -0.1% |
| XLF SS Financial Select Sector | 0.12% | 48,724 | $2.6M | Add +147.8% |
| DVY iShares Select Dividend ETF | 0.12% | 18,955 | $2.5M | Reduce -1.2% |
| BKNG Booking Holdings Inc. | 0.12% | 434 | $2.5M | Reduce -5.5% |
| SCHX Schwab US Large-Cap ETF | 0.11% | 101,162 | $2.5M | Add +4.5% |
| AMAT Applied Materials Inc. | 0.11% | 13,396 | $2.5M | Reduce -3.8% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $300K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 12,680 | $300K | Add +2.0% |
Total filed on the 13F, all lines: $2.2B.
Portfolio Sells Q1 2025 → Q2 2025
| DFUS Dimensional US Eq MKT ETF | Reduce -4.4% | 7.41% | −0.61 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -3.4% | 2.13% | −0.28 |
| DFSV Dimensional US Small Cap Val | Reduce -9.9% | 0.85% | −0.18 |
| MUB iShares National Muni Bond E | Reduce -45.6% | 0.15% | −0.17 |
| SYK Stryker Corp. | Reduce -0.3% | 2.08% | −0.17 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 0.55% | −0.14 |
| HFFG HF Foods Group Inc. | Reduce -4.3% | 0.16% | −0.13 |
| VOOV Vanguard S&P 500 Value ETF | Reduce -2.0% | 0.93% | −0.13 |
| IAU iShares Gold Trust | Reduce -0.3% | 1.36% | −0.12 |
| KAI Kadant Inc. | Sold out | 0.00% | −0.09 |
| ITB iShares U.S. Home Constructi | Sold out | 0.00% | −0.09 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Reduce -4.4% | 0.88% | −0.08 |
| AMGN Amgen Inc. | Reduce -2.5% | 0.21% | −0.06 |
| AVUS Avantis U.S. Equity ETF | Reduce -3.1% | 0.70% | −0.06 |
| SUSL iShares ESG MSCI USA Leaders | Sold out | 0.00% | −0.06 |
| XHB SS SPDR S&P Homebldrs ETF | Sold out | 0.00% | −0.06 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Reduce -14.9% | 0.26% | −0.05 |
| SKY Champion Homes Inc. | Sold out | 0.00% | −0.05 |
| SUB iShares Short-Term National | Reduce -0.5% | 0.35% | −0.05 |
| VNQ Vanguard Real Estate ETF | Reduce -4.7% | 0.22% | −0.05 |
| SCHD Schwab US DVD Equity ETF | Reduce -23.2% | 0.07% | −0.04 |
| DSI iShares ESG MSCI KLD 400 ETF | Sold out | 0.00% | −0.04 |
| SCHM Schwab US Mid Cap ETF | Reduce -17.6% | 0.12% | −0.04 |
| PEP Pepsico Inc. | Reduce -0.1% | 0.12% | −0.04 |
| GLTR Abrdn Precious Metals Basket | Sold out | 0.00% | −0.04 |
| SUSA iShares ESG Optimized MSCI U | Reduce -75.9% | 0.01% | −0.03 |
| SDY SS SPDR S&P Dividend ETF | Reduce -15.8% | 0.09% | −0.03 |
| JNJ Johnson & Johnson | Reduce -0.3% | 0.12% | −0.03 |
| DFAS Dimensional US Small Cap ETF | Reduce -3.3% | 0.26% | −0.03 |
| WEC WEC Energy Group Inc. | Sold out | 0.00% | −0.03 |
| ESGV Vanguard ESG US Stock ETF | Reduce -64.1% | 0.02% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -3.0% | 0.08% | −0.03 |
| TIP iShares Tips Bond ETF | Reduce -10.3% | 0.09% | −0.03 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.02 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -0.9% | 0.18% | −0.02 |
| APO Apollo Global Management Inc. | Reduce -2.7% | 0.16% | −0.02 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -2.0% | 0.13% | −0.02 |
| SOXX iShares Semiconductor ETF | Sold out | 0.00% | −0.02 |
| DVY iShares Select Dividend ETF | Reduce -1.2% | 0.12% | −0.02 |
| RSPT Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.02 |
| ILCG iShares Morningstar Growth E | Sold out | 0.00% | −0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -39.8% | 0.02% | −0.02 |
| DFUV Dimensional US Marketwide Va | Reduce -0.9% | 0.14% | −0.02 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -14.3% | 0.09% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -1.7% | 0.08% | −0.02 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.02 |
| ISTB iShares Core 1-5 Year Usd Bo | Sold out | 0.00% | −0.02 |
| VONE Vanguard Russell 1000 | Reduce -3.9% | 0.20% | −0.02 |
| HD Home Depot Inc. | Reduce -3.6% | 0.08% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| ITOT iShares Core S&P Total U.S. | Add +18.9% | 5.47% | +0.71 |
| VTI VG Morningstar TS MKT ETF-US | Add +11.8% | 7.66% | +0.56 |
| VT Vanguard Tot World STK ETF | Add +12.4% | 4.12% | +0.33 |
| FERG Ferguson Enterprises Inc. | New | 0.32% | +0.32 |
| DFAU Dimensional US Core Equity M | Add +40.3% | 1.23% | +0.32 |
| AGG iShares Core U.S. Aggregate | Add +51.2% | 1.00% | +0.25 |
| VEA Vanguard Ftse Developed ETF | Add +56.3% | 0.66% | +0.23 |
| AVUV Avantis US Small Cap Value | Add +144.0% | 0.41% | +0.22 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +73.4% | 0.50% | +0.22 |
| MSFT Microsoft Corp. | Add +1.2% | 1.43% | +0.21 |
| BIV Vanguard Intermediate-Term B | Add +21.8% | 2.87% | +0.20 |
| VXUS Vanguard Total Intl Stock | Add +6.3% | 4.98% | +0.15 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +291.2% | 0.16% | +0.12 |
| PH Parker Hannifin Corp. | Add +221.5% | 0.14% | +0.10 |
| AVDE Avantis International Equity | Add +12.4% | 1.00% | +0.09 |
| BKLC BNY Mellon US LRG Cap Cor | Add +8.2% | 1.67% | +0.08 |
| XLF SS Financial Select Sector | Add +147.8% | 0.12% | +0.07 |
| SCHB Schwab US Broad Market ETF | Add +15.6% | 0.62% | +0.07 |
| META Meta Platforms Inc. Class A | Add +4.4% | 0.45% | +0.06 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +26.1% | 0.31% | +0.06 |
| NPB Northpointe Bancshares Inc. | New | 0.06% | +0.06 |
| SCHF Schwab Intl Equity ETF | Add +16.7% | 0.52% | +0.06 |
| QQQ Invesco QQQ Trust Series 1 | Add +24.0% | 0.25% | +0.05 |
| ICSH iShares Ultra Short Duration | Add +61.2% | 0.17% | +0.05 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +3.1% | 0.76% | +0.05 |
| MU Micron Technology Inc. | Add +1.3% | 0.20% | +0.04 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +10.1% | 1.00% | +0.04 |
| DFLV Dim US Large Cap Value ETF | Add +98.8% | 0.08% | +0.04 |
| VGT Vanguard Info Tech ETF | Add +12.3% | 0.19% | +0.03 |
| COF Capital One Financial Corp. | New | 0.03% | +0.03 |
| DGRO iShares Core Dividend Growth | Add +162.5% | 0.05% | +0.03 |
| DFAI Dimensional International Co. | Add +4.6% | 2.77% | +0.03 |
| VUSB Vanguard Ultra Short Bond Et | Add +195.4% | 0.04% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +1.6% | 0.19% | +0.02 |
| NEE Nextera Energy Inc. | Add +190.3% | 0.04% | +0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +39.0% | 0.11% | +0.02 |
| MS Morgan Stanley | Add +92.2% | 0.04% | +0.02 |
| VONG Vanguard Russell 1000 Growth | Add +7.8% | 0.20% | +0.02 |
| AVLV Avantis US Large Cap Value | New | 0.02% | +0.02 |
| UBER Uber Technologies Inc. | Add +12.9% | 0.09% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +6.1% | 0.76% | +0.02 |
| AVIV Avantis Intl LRG Cap Val ETF | New | 0.02% | +0.02 |
| CG The Carlyle Group Inc. | Add +30.9% | 0.06% | +0.02 |
| TSLA Tesla Inc. | Add +3.1% | 0.17% | +0.02 |
| CVCO Cavco Industries Inc. | New | 0.01% | +0.01 |
| DUHP Dimensional US High Profi Et | New | 0.01% | +0.01 |
| VOOG Vanguard S&P 500 Growth ETF | Add +7.7% | 0.14% | +0.01 |
| IYC iShares US Consumer Discreti | New | 0.01% | +0.01 |
| INTU Intuit Inc. | Add +7.6% | 0.07% | +0.01 |
| XLK SS Technology Select Sector | Add +8.8% | 0.08% | +0.01 |
Notes & Other Activity Q1 2025 → Q2 2025
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +2.0% | 12,680 | $300K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 391 | $3.4B | VOO, DFUS, ITOT, VTI, VXUS |
| Q1 2026 | 366 | $2.9B | VOO, VTI, DFUS, ITOT, VXUS |
| Q4 2025 | 338 | $2.7B | VOO, VTI, DFUS, ITOT, VXUS |
| Q3 2025 | 315 | $2.5B | VOO, VTI, DFUS, ITOT, VXUS |
| Q2 2025 | 290 | $2.2B | VOO, VTI, DFUS, ITOT, DFAC |
| Q1 2025 | 300 | $1.9B | DFUS, VOO, VTI, DFAC, VXUS |
| Q4 2024 | 294 | $1.7B | DFUS, VOO, VTI, DFAC, ITOT |
| Q3 2024 | 275 | $1.6B | VTI, VOO, DFUS, DFAC, ITOT |
| Q2 2024 | 267 | $1.4B | VTI, VOO, DFUS, ITOT, DFAC |
| Q1 2024 | 266 | $1.3B | VTI, VOO, DFUS, ITOT, DFAC |