Zhang Financial LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Zhang Financial LLC reported 315 stock positions worth $2.5 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 7.5% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 7.3%) and Dimensional US Eq MKT ETF (DFUS, 7.1%). Compared with Q2 2025, it opened 36 new positions, sold out of 11, added to 153 and reduced 83. The biggest buy was Vanguard Intermediate-Term B (BIV, shares +41%) and the biggest sale Vngrd Mrngst SL-CP Val ETF-U (VBR, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- PORTAGE, MI
- CIK
- 0001776290
- Portfolio Value
- $2.5B (Q3 2025)
- SEC Filing
- 0001776290-25-000006 ↗ filed Nov 10, 2025
Holdings Value
Holdings 315 stocks · $2.5B
| VOO Vanguard S&P 500 ETF | 7.54% | 303,156 | $185.6M | Add +3.2% |
| VTI VG Morningstar TS MKT ETF-US | 7.33% | 549,958 | $180.5M | Add +0.7% |
| DFUS Dimensional US Eq MKT ETF | 7.07% | 2,403,369 | $174.1M | Add +0.3% |
| ITOT iShares Core S&P Total U.S. | 5.74% | 969,900 | $141.3M | Add +10.4% |
| VXUS Vanguard Total Intl Stock | 5.20% | 1,740,574 | $127.9M | Add +11.4% |
| DFAC Dimensional US Core Equity 2 | 5.16% | 3,290,591 | $126.9M | Add +2.5% |
| VT Vanguard Tot World STK ETF | 3.99% | 712,620 | $98.2M | Add +2.6% |
| BIV Vanguard Intermediate-Term B | 3.61% | 1,136,494 | $88.7M | Add +41.3% |
| DFAI Dimensional International Co. | 2.64% | 1,785,546 | $64.9M | Add +2.8% |
| AAPL Apple Inc. | 2.12% | 204,959 | $52.2M | Add +1.4% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 2.00% | 236,207 | $49.3M | Reduce -0.2% |
| BND Vanguard Total Bond Market | 1.91% | 631,836 | $47.0M | Add +7.3% |
| VYM Vanguard High DVD Yield ETF | 1.82% | 316,988 | $44.7M | Add +7.3% |
| SYK Stryker Corp. | 1.71% | 113,980 | $42.1M | Add +0.1% |
| BKLC BNY Mellon US LRG Cap Cor | 1.61% | 308,448 | $39.6M | Add +1.1% |
| IAU iShares Gold Trust | 1.41% | 475,595 | $34.6M | Add +0.4% |
| MSFT Microsoft Corp. | 1.32% | 62,946 | $32.6M | Add +1.3% |
| DFAU Dimensional US Core Equity M | 1.22% | 655,912 | $30.0M | Add +4.6% |
| AGG iShares Core U.S. Aggregate | 1.18% | 289,103 | $29.0M | Add +31.7% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.14% | 351,027 | $28.1M | Add +6.5% |
| AVDE Avantis International Equity | 1.09% | 340,269 | $26.8M | Add +16.2% |
| NVDA Nvidia Corp. | 1.08% | 143,029 | $26.7M | Add +3.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.04% | 87,548 | $25.7M | Add +13.4% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.87% | 266,964 | $21.5M | Add +4.7% |
| VOOV Vanguard S&P 500 Value ETF | 0.86% | 105,882 | $21.1M | Reduce -0.8% |
| IBIT iShares Bitcoin Trust ETF | 0.82% | 309,220 | $20.1M | Add +0.1% |
| DFSV Dimensional US Small Cap Val | 0.81% | 628,875 | $20.0M | Reduce 0.0% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.78% | 47,778 | $19.2M | Add +6.4% |
| VEA Vanguard Ftse Developed ETF | 0.74% | 303,322 | $18.2M | Add +20.1% |
| IWN iShares Russell 2000 Value E | 0.74% | 102,318 | $18.1M | Reduce -2.6% |
| IVV iShares Core S&P 500 ETF | 0.72% | 26,536 | $17.8M | Reduce -0.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.69% | 35,242 | $16.9M | Add +42.5% |
| SCHB Schwab US Broad Market ETF | 0.68% | 650,806 | $16.7M | Add +14.5% |
| AVUS Avantis U.S. Equity ETF | 0.68% | 153,713 | $16.7M | Add +2.6% |
| AMZN Amazon.com Inc. | 0.60% | 67,685 | $14.9M | Add +15.5% |
| GOOGL Alphabet Inc. Class A | 0.59% | 59,989 | $14.6M | Add +8.7% |
| AVUV Avantis US Small Cap Value | 0.56% | 137,754 | $13.7M | Add +42.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.51% | 24,835 | $12.5M | Add +1.0% |
| VWO Vanguard Ftse Emerging Marke | 0.50% | 224,902 | $12.2M | Add +0.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.49% | 65,245 | $12.2M | Add +1.8% |
| SCHF Schwab Intl Equity ETF | 0.48% | 512,513 | $11.9M | Add +0.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.48% | 17,660 | $11.8M | Add +0.0% |
| META Meta Platforms Inc. Class A | 0.44% | 14,882 | $10.9M | Add +12.1% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.40% | 173,072 | $9.9M | Add +13.1% |
| GLDM SPDR Gold Minishares Trust | 0.32% | 104,513 | $8.0M | Reduce -0.4% |
| SUB iShares Short-Term National | 0.31% | 71,702 | $7.7M | Add +1.1% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.31% | 112,880 | $7.6M | Add +5.8% |
| AVGO Broadcom Inc. | 0.29% | 21,817 | $7.2M | Add +1.5% |
| FERG Ferguson Enterprises Inc. | 0.29% | 31,734 | $7.1M | No change |
| SPAB SS SPDR P Agg Bond ETF | 0.27% | 259,666 | $6.7M | Add +9.1% |
| ABBV Abbvie Inc. | 0.26% | 27,875 | $6.5M | Add +13.3% |
| JPM JPMorgan Chase & Co. | 0.26% | 19,968 | $6.3M | Add +2.7% |
| MU Micron Technology Inc. | 0.25% | 36,961 | $6.2M | Add +3.7% |
| DFAS Dimensional US Small Cap ETF | 0.25% | 88,712 | $6.1M | Reduce -0.1% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.24% | 24,496 | $6.0M | Reduce -0.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 9,694 | $5.8M | Reduce -2.3% |
| IXUS iShares Core Intl Stock ETF | 0.24% | 70,182 | $5.8M | Add +3.6% |
| VONE Vanguard Russell 1000 | 0.23% | 18,916 | $5.7M | Add +22.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 20,016 | $5.6M | Add +4.9% |
| TSLA Tesla Inc. | 0.22% | 12,141 | $5.4M | Add +7.7% |
| CAT Caterpillar Inc. | 0.21% | 10,576 | $5.0M | Add +2.8% |
| KLAC KLA Corp. | 0.20% | 4,543 | $4.9M | Add +1.0% |
| AMGN Amgen Inc. | 0.20% | 17,358 | $4.9M | Add +8.9% |
| EFV iShares MSCI Eafe Value ETF | 0.19% | 69,961 | $4.7M | Reduce -1.1% |
| VGT Vanguard Info Tech ETF | 0.19% | 6,320 | $4.7M | Add +0.9% |
| VONG Vanguard Russell 1000 Growth | 0.19% | 38,742 | $4.7M | Reduce -3.3% |
| MUB iShares National Muni Bond E | 0.19% | 43,754 | $4.7M | Add +36.2% |
| CSCO Cisco Systems Inc. | 0.19% | 67,885 | $4.6M | Add +6.0% |
| GS Goldman Sachs Group Inc. | 0.19% | 5,722 | $4.6M | Reduce -2.1% |
| AXP American Express Co. | 0.18% | 13,359 | $4.4M | Add +9.2% |
| VIG Vanguard Dividend Apprec ETF | 0.18% | 20,305 | $4.4M | Add +0.9% |
| VNQ Vanguard Real Estate ETF | 0.17% | 47,122 | $4.3M | Reduce -12.7% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.17% | 50,068 | $4.2M | Add +0.3% |
| PG The Procter & Gamble Co. | 0.17% | 27,535 | $4.2M | Add +6.8% |
| ICSH iShares Ultra Short Duration | 0.16% | 75,559 | $3.8M | Add +2.8% |
| IWV iShares Russell 3000 ETF | 0.16% | 10,100 | $3.8M | Reduce -1.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.15% | 12,081 | $3.7M | Add +0.0% |
| GOOG Alphabet Inc. Class C | 0.15% | 15,269 | $3.7M | Add +2.0% |
| APO Apollo Global Management Inc. | 0.15% | 27,470 | $3.7M | Add +9.6% |
| XOM Exxon Mobil Corp. | 0.15% | 31,811 | $3.6M | Add +15.3% |
| VOOG Vanguard S&P 500 Growth ETF | 0.14% | 8,120 | $3.5M | Add +8.5% |
| VONV Vanguard Russell 1000 Value | 0.14% | 38,006 | $3.4M | Reduce -1.0% |
| AIT Applied Industrial Tech Inc. | 0.14% | 12,793 | $3.3M | Reduce -7.3% |
| PH Parker Hannifin Corp. | 0.13% | 4,338 | $3.3M | Reduce -0.3% |
| WMT Walmart Inc. | 0.13% | 31,740 | $3.3M | Add +14.2% |
| BKIE BNY Mellon Intl Eqty ETF | 0.13% | 34,755 | $3.1M | Reduce -0.8% |
| DFUV Dimensional US Marketwide Va | 0.13% | 69,379 | $3.1M | Reduce -0.4% |
| AMAT Applied Materials Inc. | 0.12% | 14,939 | $3.1M | Add +11.5% |
| MDT Medtronic PLC | 0.12% | 31,978 | $3.0M | Add +20.0% |
| VCRB Vanguard Core Bond ETF | 0.12% | 37,749 | $3.0M | Add +899.2% |
| HFFG HF Foods Group Inc. | 0.12% | 1,063,342 | $2.9M | No change |
| SPTS SS SPDR P St Term TSY ETF | 0.12% | 99,192 | $2.9M | Add +2.5% |
| CRM Salesforce Inc. | 0.12% | 11,989 | $2.8M | Add +20.6% |
| SCHM Schwab US Mid Cap ETF | 0.11% | 95,025 | $2.8M | Add +0.1% |
| PEP Pepsico Inc. | 0.11% | 19,784 | $2.8M | Add +0.1% |
| XLF SS Financial Select Sector | 0.11% | 51,291 | $2.8M | Add +5.3% |
| DVY iShares Select Dividend ETF | 0.11% | 18,964 | $2.7M | Add +0.1% |
| SCHX Schwab US Large-Cap ETF | 0.11% | 101,686 | $2.7M | Add +0.5% |
| HON Honeywell International Inc. | 0.11% | 12,494 | $2.6M | Reduce -0.6% |
| SCHZ Schwab US Aggregate Bond ETF | 0.10% | 106,868 | $2.5M | Add +9.7% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $326K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 12,933 | $326K | Add +2.0% |
Total filed on the 13F, all lines: $2.5B.
Portfolio Sells Q2 2025 → Q3 2025
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.2% | 2.00% | −0.13 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -48.3% | 0.09% | −0.09 |
| VOOV Vanguard S&P 500 Value ETF | Reduce -0.8% | 0.86% | −0.07 |
| NPB Northpointe Bancshares Inc. | Sold out | 0.00% | −0.06 |
| K Kellanova | Reduce -74.1% | 0.01% | −0.05 |
| VNQ Vanguard Real Estate ETF | Reduce -12.7% | 0.17% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -0.4% | 0.72% | −0.04 |
| DFSV Dimensional US Small Cap Val | Reduce 0.0% | 0.81% | −0.04 |
| JNJ Johnson & Johnson | Reduce -28.8% | 0.09% | −0.03 |
| IWN iShares Russell 2000 Value E | Reduce -2.6% | 0.74% | −0.03 |
| HON Honeywell International Inc. | Reduce -0.6% | 0.11% | −0.03 |
| PM Philip Morris International | Reduce -0.2% | 0.07% | −0.02 |
| VGIT Vanguard Intermediate-Term T | Reduce -65.0% | 0.01% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -11.8% | 0.04% | −0.02 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -2.3% | 0.24% | −0.02 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -26.8% | 0.03% | −0.02 |
| FTNT Fortinet Inc. | Reduce -4.6% | 0.03% | −0.01 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.01 |
| EFV iShares MSCI Eafe Value ETF | Reduce -1.1% | 0.19% | −0.01 |
| DFAS Dimensional US Small Cap ETF | Reduce -0.1% | 0.25% | −0.01 |
| DGRO iShares Core Dividend Growth | Reduce -24.5% | 0.03% | −0.01 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Reduce -0.9% | 0.24% | −0.01 |
| VONV Vanguard Russell 1000 Value | Reduce -1.0% | 0.14% | −0.01 |
| BKIE BNY Mellon Intl Eqty ETF | Reduce -0.8% | 0.13% | −0.01 |
| AIT Applied Industrial Tech Inc. | Reduce -7.3% | 0.14% | −0.01 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.01 |
| VONG Vanguard Russell 1000 Growth | Reduce -3.3% | 0.19% | −0.01 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.01 |
| PAYX Paychex Inc. | Sold out | 0.00% | −0.01 |
| IWV iShares Russell 3000 ETF | Reduce -1.6% | 0.16% | −0.01 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.01 |
| DFUV Dimensional US Marketwide Va | Reduce -0.4% | 0.13% | −0.01 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -3.7% | 0.10% | −0.01 |
| ARES Ares Management Corp. Class A | Reduce -14.1% | 0.02% | −0.01 |
| BKAG BNY Mellon Core Bond ETF | Reduce -2.0% | 0.05% | −0.01 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -14.5% | 0.02% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -1.3% | 0.07% | −0.01 |
| DFAE Dimensional Emerging Core Eq | Reduce -3.8% | 0.08% | −0.01 |
| PFE Pfizer Inc. | Reduce -21.8% | 0.02% | −0.01 |
| LIN Linde PLC | Reduce -0.3% | 0.05% | −0.01 |
| DFLV Dim US Large Cap Value ETF | Reduce -1.5% | 0.07% | −0.01 |
| PH Parker Hannifin Corp. | Reduce -0.3% | 0.13% | −0.01 |
| SHYF The Shyft Group Inc. | Sold out | 0.00% | −0.01 |
| TXN Texas Instruments Inc. | Reduce -1.9% | 0.02% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -2.1% | 0.19% | −0.01 |
| IVOO Vanguard S&P Mid-Cap 400 ETF | Reduce -4.7% | 0.04% | −0.01 |
| BSV Vanguard Short-Term Bond ETF | Reduce -10.2% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| BIV Vanguard Intermediate-Term B | Add +41.3% | 3.61% | +0.73 |
| ITOT iShares Core S&P Total U.S. | Add +10.4% | 5.74% | +0.27 |
| VXUS Vanguard Total Intl Stock | Add +11.4% | 5.20% | +0.21 |
| AAPL Apple Inc. | Add +1.4% | 2.12% | +0.21 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +42.5% | 0.69% | +0.19 |
| AGG iShares Core U.S. Aggregate | Add +31.7% | 1.18% | +0.17 |
| AVUV Avantis US Small Cap Value | Add +42.8% | 0.56% | +0.15 |
| GOOGL Alphabet Inc. Class A | Add +8.7% | 0.59% | +0.14 |
| VCRB Vanguard Core Bond ETF | Add +899.2% | 0.12% | +0.11 |
| ZTS Zoetis Inc. | New | 0.10% | +0.10 |
| AVDE Avantis International Equity | Add +16.2% | 1.09% | +0.09 |
| NVDA Nvidia Corp. | Add +3.6% | 1.08% | +0.08 |
| VEA Vanguard Ftse Developed ETF | Add +20.1% | 0.74% | +0.07 |
| GKOS Glaukos Corp. | New | 0.07% | +0.07 |
| KAI Kadant Inc. | New | 0.06% | +0.06 |
| SCHB Schwab US Broad Market ETF | Add +14.5% | 0.68% | +0.06 |
| TSLA Tesla Inc. | Add +7.7% | 0.22% | +0.05 |
| ABBV Abbvie Inc. | Add +13.3% | 0.26% | +0.05 |
| MU Micron Technology Inc. | Add +3.7% | 0.25% | +0.05 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +13.4% | 1.04% | +0.05 |
| IAU iShares Gold Trust | Add +0.4% | 1.41% | +0.04 |
| IMAX Imax Corp. | New | 0.04% | +0.04 |
| GLTR Abrdn Precious Metals Basket | New | 0.03% | +0.03 |
| MUB iShares National Muni Bond E | Add +36.2% | 0.19% | +0.03 |
| JMUB JPMorgan Municipal ETF | New | 0.03% | +0.03 |
| VONE Vanguard Russell 1000 | Add +22.1% | 0.23% | +0.03 |
| ADBE Adobe Inc. | Add +166.1% | 0.06% | +0.03 |
| SKY Champion Homes Inc. | New | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +2.0% | 0.15% | +0.03 |
| PLTR Palantir Technologies Inc. Class A | New | 0.03% | +0.03 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +6.4% | 0.78% | +0.02 |
| CAT Caterpillar Inc. | Add +2.8% | 0.21% | +0.02 |
| LMT Lockheed Martin Corp. | Add +38.0% | 0.08% | +0.02 |
| RSPT Invesco S&P 500 Equal Weight | New | 0.02% | +0.02 |
| QQQM Invesco Nasdaq 100 ETF | Add +31.4% | 0.09% | +0.02 |
| AVGO Broadcom Inc. | Add +1.5% | 0.29% | +0.02 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.02% | +0.02 |
| WEC WEC Energy Group Inc. | New | 0.02% | +0.02 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +13.1% | 0.40% | +0.02 |
| SMH Vaneck Semiconductor ETF | Add +89.5% | 0.04% | +0.02 |
| IVW iShares S&P 500 Growth ETF | Add +32.2% | 0.08% | +0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +33.9% | 0.08% | +0.02 |
| MDT Medtronic PLC | Add +20.0% | 0.12% | +0.02 |
| DCOR Dimensional US Core Eq 1 ETF | New | 0.02% | +0.02 |
| NEM Newmont Corp. | New | 0.02% | +0.02 |
| EMR Emerson Electric Co. | New | 0.01% | +0.01 |
| WPM Wheaton Precious Metals Corp. | New | 0.01% | +0.01 |
| RTX RTX Corp. | Add +77.3% | 0.03% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +27.6% | 0.07% | +0.01 |
| KLAC KLA Corp. | Add +1.0% | 0.20% | +0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +2.0% | 12,933 | $326K |
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 |