Zhang Financial LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Zhang Financial LLC reported 338 stock positions worth $2.7 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 7.3% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 6.9%) and Dimensional US Eq MKT ETF (DFUS, 6.7%). Compared with Q3 2025, it opened 31 new positions, sold out of 9, added to 182 and reduced 74. The biggest buy was Vanguard Intermediate-Term B (BIV, shares +34%) and the biggest sale VG Morningstar TS MKT ETF-US (VTI, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- PORTAGE, MI
- CIK
- 0001776290
- Portfolio Value
- $2.7B (Q4 2025)
- SEC Filing
- 0001776290-26-000002 ↗ filed Feb 10, 2026
Holdings Value
Holdings 338 stocks · $2.7B
| VOO Vanguard S&P 500 ETF | 7.27% | 310,861 | $195.0M | Add +2.5% |
| VTI VG Morningstar TS MKT ETF-US | 6.85% | 547,888 | $183.7M | Reduce -0.4% |
| DFUS Dimensional US Eq MKT ETF | 6.69% | 2,417,863 | $179.3M | Add +0.6% |
| ITOT iShares Core S&P Total U.S. | 5.83% | 1,051,877 | $156.4M | Add +8.4% |
| VXUS Vanguard Total Intl Stock | 5.29% | 1,880,287 | $141.8M | Add +8.0% |
| DFAC Dimensional US Core Equity 2 | 4.90% | 3,321,411 | $131.5M | Add +0.9% |
| BIV Vanguard Intermediate-Term B | 4.42% | 1,520,153 | $118.4M | Add +33.8% |
| VT Vanguard Tot World STK ETF | 3.77% | 716,978 | $101.1M | Add +0.6% |
| DFAI Dimensional International Co. | 2.59% | 1,824,816 | $69.5M | Add +2.2% |
| AAPL Apple Inc. | 2.20% | 216,708 | $58.9M | Add +5.7% |
| BND Vanguard Total Bond Market | 1.91% | 691,645 | $51.2M | Add +9.5% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.79% | 226,870 | $48.0M | Reduce -4.0% |
| AGG iShares Core U.S. Aggregate | 1.70% | 455,781 | $45.5M | Add +57.6% |
| VYM Vanguard High DVD Yield ETF | 1.68% | 314,048 | $45.1M | Reduce -0.9% |
| BKLC BNY Mellon US LRG Cap Cor | 1.52% | 312,336 | $40.9M | Add +1.3% |
| SYK Stryker Corp. | 1.45% | 110,348 | $38.8M | Reduce -3.2% |
| IAU iShares Gold Trust | 1.43% | 473,420 | $38.4M | Reduce -0.5% |
| AVDE Avantis International Equity | 1.23% | 402,208 | $33.1M | Add +18.2% |
| MSFT Microsoft Corp. | 1.23% | 67,928 | $32.9M | Add +7.9% |
| DFAU Dimensional US Core Equity M | 1.18% | 673,569 | $31.5M | Add +2.7% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.14% | 382,608 | $30.5M | Add +9.0% |
| NVDA Nvidia Corp. | 1.01% | 145,355 | $27.1M | Add +1.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.00% | 92,354 | $26.8M | Add +5.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.92% | 50,797 | $24.8M | Add +44.1% |
| AVUS Avantis U.S. Equity ETF | 0.89% | 212,973 | $23.8M | Add +38.5% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.81% | 263,693 | $21.8M | Reduce -1.2% |
| VOOV Vanguard S&P 500 Value ETF | 0.79% | 103,413 | $21.2M | Reduce -2.3% |
| DFSV Dimensional US Small Cap Val | 0.78% | 635,274 | $20.9M | Add +1.0% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.76% | 49,269 | $20.3M | Add +3.1% |
| VEA Vanguard Ftse Developed ETF | 0.73% | 314,532 | $19.6M | Add +3.7% |
| GOOGL Alphabet Inc. Class A | 0.69% | 59,524 | $18.6M | Reduce -0.8% |
| VCRB Vanguard Core Bond ETF | 0.69% | 238,864 | $18.6M | Add +532.8% |
| IWN iShares Russell 2000 Value E | 0.68% | 99,955 | $18.1M | Reduce -2.3% |
| IVV iShares Core S&P 500 ETF | 0.66% | 25,662 | $17.6M | Reduce -3.3% |
| SCHB Schwab US Broad Market ETF | 0.63% | 648,395 | $17.0M | Reduce -0.4% |
| AVUV Avantis US Small Cap Value | 0.62% | 164,133 | $16.7M | Add +19.1% |
| AMZN Amazon.com Inc. | 0.61% | 70,609 | $16.3M | Add +4.3% |
| IBIT iShares Bitcoin Trust ETF | 0.61% | 327,153 | $16.2M | Add +5.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.53% | 20,960 | $14.3M | Add +18.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.49% | 25,933 | $13.0M | Add +4.4% |
| SCHF Schwab Intl Equity ETF | 0.46% | 518,515 | $12.5M | Add +1.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.46% | 64,782 | $12.4M | Reduce -0.7% |
| VWO Vanguard Ftse Emerging Marke | 0.46% | 227,963 | $12.3M | Add +1.4% |
| META Meta Platforms Inc. Class A | 0.43% | 17,302 | $11.4M | Add +16.3% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.38% | 176,251 | $10.2M | Add +1.8% |
| MU Micron Technology Inc. | 0.36% | 33,892 | $9.7M | Reduce -8.3% |
| GLDM SPDR Gold Minishares Trust | 0.31% | 98,084 | $8.4M | Reduce -6.2% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.31% | 113,675 | $8.3M | Add +0.7% |
| AVGO Broadcom Inc. | 0.31% | 23,634 | $8.2M | Add +8.3% |
| SUB iShares Short-Term National | 0.30% | 74,231 | $7.9M | Add +3.5% |
| DFAT Dimensional US Target Value | 0.29% | 131,795 | $7.8M | Add +503.5% |
| FERG Ferguson Enterprises Inc. | 0.28% | 33,468 | $7.5M | Add +5.5% |
| JPM JPMorgan Chase & Co. | 0.25% | 21,163 | $6.8M | Add +6.0% |
| ABBV Abbvie Inc. | 0.25% | 29,260 | $6.7M | Add +5.0% |
| SPAB SS SPDR P Agg Bond ETF | 0.24% | 251,623 | $6.5M | Reduce -3.1% |
| AMGN Amgen Inc. | 0.24% | 19,273 | $6.3M | Add +11.0% |
| DFAS Dimensional US Small Cap ETF | 0.23% | 88,653 | $6.2M | Reduce -0.1% |
| SGOV iShares 0-3 Month Treasury B | 0.23% | 60,918 | $6.1M | Add +631.8% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.23% | 8 | $6.0M | Add +166.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 20,371 | $6.0M | Add +1.8% |
| CAT Caterpillar Inc. | 0.22% | 10,485 | $6.0M | Reduce -0.9% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.22% | 23,795 | $6.0M | Reduce -2.9% |
| IXUS iShares Core Intl Stock ETF | 0.22% | 70,243 | $5.9M | Add +0.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 9,669 | $5.9M | Reduce -0.3% |
| VONE Vanguard Russell 1000 | 0.22% | 18,979 | $5.9M | Add +0.3% |
| VONG Vanguard Russell 1000 Growth | 0.22% | 47,612 | $5.8M | Add +22.9% |
| MUB iShares National Muni Bond E | 0.21% | 53,658 | $5.7M | Add +22.6% |
| CSCO Cisco Systems Inc. | 0.21% | 72,634 | $5.6M | Add +7.0% |
| TSLA Tesla Inc. | 0.20% | 12,168 | $5.5M | Add +0.2% |
| KLAC KLA Corp. | 0.20% | 4,392 | $5.3M | Reduce -3.3% |
| GS Goldman Sachs Group Inc. | 0.19% | 5,923 | $5.2M | Add +3.5% |
| EFV iShares MSCI Eafe Value ETF | 0.19% | 70,262 | $5.0M | Add +0.4% |
| GOOG Alphabet Inc. Class C | 0.18% | 15,477 | $4.9M | Add +1.4% |
| VGT Vanguard Info Tech ETF | 0.18% | 6,398 | $4.8M | Add +1.2% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.17% | 50,107 | $4.5M | Add +0.1% |
| VONV Vanguard Russell 1000 Value | 0.17% | 48,337 | $4.5M | Add +27.2% |
| VIG Vanguard Dividend Apprec ETF | 0.16% | 19,972 | $4.4M | Reduce -1.6% |
| ICSH iShares Ultra Short Duration | 0.16% | 85,904 | $4.3M | Add +13.7% |
| XOM Exxon Mobil Corp. | 0.16% | 35,608 | $4.3M | Add +11.9% |
| VOOG Vanguard S&P 500 Growth ETF | 0.16% | 9,573 | $4.3M | Add +17.9% |
| APO Apollo Global Management Inc. | 0.16% | 29,120 | $4.2M | Add +6.0% |
| WMT Walmart Inc. | 0.15% | 36,748 | $4.1M | Add +15.8% |
| PG The Procter & Gamble Co. | 0.15% | 27,378 | $3.9M | Reduce -0.6% |
| IWV iShares Russell 3000 ETF | 0.14% | 10,050 | $3.9M | Reduce -0.5% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.14% | 12,089 | $3.8M | Add +0.1% |
| VNQ Vanguard Real Estate ETF | 0.14% | 42,229 | $3.7M | Reduce -10.4% |
| MDT Medtronic PLC | 0.13% | 35,414 | $3.4M | Add +10.7% |
| BKIE BNY Mellon Intl Eqty ETF | 0.13% | 36,497 | $3.4M | Add +5.0% |
| AIT Applied Industrial Tech Inc. | 0.12% | 12,793 | $3.3M | No change |
| SPTS SS SPDR P St Term TSY ETF | 0.12% | 111,840 | $3.3M | Add +12.8% |
| DFUV Dimensional US Marketwide Va | 0.12% | 70,016 | $3.3M | Add +0.9% |
| XLF SS Financial Select Sector | 0.12% | 57,279 | $3.1M | Add +11.7% |
| SCHZ Schwab US Aggregate Bond ETF | 0.11% | 127,505 | $3.0M | Add +19.3% |
| SCHM Schwab US Mid Cap ETF | 0.11% | 95,926 | $2.9M | Add +0.9% |
| PEP Pepsico Inc. | 0.11% | 19,946 | $2.9M | Add +0.8% |
| LLY Eli Lilly & Co. | 0.11% | 2,660 | $2.9M | Add +2.0% |
| SCHX Schwab US Large-Cap ETF | 0.11% | 105,883 | $2.8M | Add +4.1% |
| JNJ Johnson & Johnson | 0.10% | 13,541 | $2.8M | Add +8.5% |
| BKNG Booking Holdings Inc. | 0.10% | 510 | $2.7M | Add +15.1% |
| CRM Salesforce Inc. | 0.10% | 10,234 | $2.7M | Reduce -14.6% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $328K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 13,185 | $328K | Add +1.9% |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q3 2025 → Q4 2025
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.4% | 6.85% | −0.48 |
| SYK Stryker Corp. | Reduce -3.2% | 1.45% | −0.27 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -4.0% | 1.79% | −0.21 |
| AXP American Express Co. | Sold out | 0.00% | −0.18 |
| VYM Vanguard High DVD Yield ETF | Reduce -0.9% | 1.68% | −0.13 |
| PH Parker Hannifin Corp. | Reduce -60.7% | 0.06% | −0.08 |
| VOOV Vanguard S&P 500 Value ETF | Reduce -2.3% | 0.79% | −0.07 |
| IVV iShares Core S&P 500 ETF | Reduce -3.3% | 0.66% | −0.07 |
| AMAT Applied Materials Inc. | Reduce -58.7% | 0.06% | −0.07 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Reduce -1.2% | 0.81% | −0.06 |
| IWN iShares Russell 2000 Value E | Reduce -2.3% | 0.68% | −0.06 |
| SCHB Schwab US Broad Market ETF | Reduce -0.4% | 0.63% | −0.05 |
| CL Colgate-Palmolive Co. | Sold out | 0.00% | −0.04 |
| F Ford Motor Co. | Reduce -52.9% | 0.04% | −0.04 |
| VNQ Vanguard Real Estate ETF | Reduce -10.4% | 0.14% | −0.04 |
| SDY SS SPDR S&P Dividend ETF | Reduce -38.2% | 0.05% | −0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -0.7% | 0.46% | −0.03 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -3.1% | 0.24% | −0.03 |
| SCHD Schwab US DVD Equity ETF | Reduce -42.3% | 0.03% | −0.03 |
| MCK McKesson Corp. | Reduce -29.0% | 0.06% | −0.03 |
| ZTS Zoetis Inc. | Reduce -6.7% | 0.07% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.6% | 0.15% | −0.03 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.02 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Reduce -2.9% | 0.22% | −0.02 |
| NFLX Netflix Inc. | Reduce -16.4% | 0.03% | −0.02 |
| DFAS Dimensional US Small Cap ETF | Reduce -0.1% | 0.23% | −0.02 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.3% | 0.22% | −0.01 |
| K Kellanova | Sold out | 0.00% | −0.01 |
| CRM Salesforce Inc. | Reduce -14.6% | 0.10% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.6% | 0.16% | −0.01 |
| QRVO Qorvo Inc. | Sold out | 0.00% | −0.01 |
| DFLV Dim US Large Cap Value ETF | Reduce -14.0% | 0.06% | −0.01 |
| GLDM SPDR Gold Minishares Trust | Reduce -6.2% | 0.31% | −0.01 |
| DVY iShares Select Dividend ETF | Reduce -2.6% | 0.10% | −0.01 |
| IWV iShares Russell 3000 ETF | Reduce -0.5% | 0.14% | −0.01 |
| V Visa Inc. Class A | Reduce -4.9% | 0.08% | −0.01 |
| KAI Kadant Inc. | Reduce -3.2% | 0.05% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -11.0% | 0.04% | −0.01 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.5% | 0.03% | −0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.01 |
| IVE iShares S&P 500 Value ETF | Reduce -11.8% | 0.04% | −0.01 |
| CG The Carlyle Group Inc. | Reduce -0.1% | 0.05% | −0.01 |
| IVW iShares S&P 500 Growth ETF | Reduce -3.8% | 0.07% | −0.01 |
| KMB Kimberly-Clark Corp. | Reduce -10.7% | 0.01% | −0.01 |
| BKMC BNY Mellon US M/C Core ETF | Reduce -4.9% | 0.05% | −0.01 |
| CVX Chevron Corp. | Reduce -4.6% | 0.04% | −0.01 |
| VSS Vanguard Ftse All Wo X-US SC | Reduce -0.6% | 0.07% | −0.01 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -0.5% | 0.08% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| BIV Vanguard Intermediate-Term B | Add +33.8% | 4.42% | +0.81 |
| VCRB Vanguard Core Bond ETF | Add +532.8% | 0.69% | +0.57 |
| AGG iShares Core U.S. Aggregate | Add +57.6% | 1.70% | +0.52 |
| DFAT Dimensional US Target Value | Add +503.5% | 0.29% | +0.24 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +44.1% | 0.92% | +0.24 |
| AVUS Avantis U.S. Equity ETF | Add +38.5% | 0.89% | +0.21 |
| SGOV iShares 0-3 Month Treasury B | Add +631.8% | 0.23% | +0.19 |
| AVDE Avantis International Equity | Add +18.2% | 1.23% | +0.14 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +166.7% | 0.23% | +0.13 |
| VXUS Vanguard Total Intl Stock | Add +8.0% | 5.29% | +0.09 |
| ITOT iShares Core S&P Total U.S. | Add +8.4% | 5.83% | +0.09 |
| AAPL Apple Inc. | Add +5.7% | 2.20% | +0.08 |
| AVUV Avantis US Small Cap Value | Add +19.1% | 0.62% | +0.07 |
| VGUS Vanguard Ultra SHRT Treasury | New | 0.06% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +18.7% | 0.53% | +0.06 |
| QCOM Qualcomm Inc. | Add +117.7% | 0.09% | +0.05 |
| NEM Newmont Corp. | Add +253.3% | 0.06% | +0.04 |
| ETHA iShares Ethereum Trust ETF | New | 0.04% | +0.04 |
| VUSB Vanguard Ultra Short Bond Et | Add +130.3% | 0.08% | +0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +174.7% | 0.06% | +0.04 |
| AMGN Amgen Inc. | Add +11.0% | 0.24% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +1.4% | 0.18% | +0.03 |
| VONV Vanguard Russell 1000 Value | Add +27.2% | 0.17% | +0.03 |
| VONG Vanguard Russell 1000 Growth | Add +22.9% | 0.22% | +0.03 |
| LLY Eli Lilly & Co. | Add +2.0% | 0.11% | +0.03 |
| MUB iShares National Muni Bond E | Add +22.6% | 0.21% | +0.03 |
| ONEQ Fidelity Nasdaq Comp Indx | New | 0.02% | +0.02 |
| GKOS Glaukos Corp. | Add +5.7% | 0.10% | +0.02 |
| MUNI PIMCO Intermediate Municipal | New | 0.02% | +0.02 |
| DFNM Dimensional National Muni BD | New | 0.02% | +0.02 |
| CSCO Cisco Systems Inc. | Add +7.0% | 0.21% | +0.02 |
| WMT Walmart Inc. | Add +15.8% | 0.15% | +0.02 |
| IEF iShares 7-10 Year Treasury B | New | 0.02% | +0.02 |
| IUSV iShares Core S&P U.S. Value | New | 0.02% | +0.02 |
| VOOG Vanguard S&P 500 Growth ETF | Add +17.9% | 0.16% | +0.02 |
| XOM Exxon Mobil Corp. | Add +11.9% | 0.16% | +0.01 |
| EEM iShares MSCI Emerging Market | New | 0.01% | +0.01 |
| AVGO Broadcom Inc. | Add +8.3% | 0.31% | +0.01 |
| C Citigroup Inc. | New | 0.01% | +0.01 |
| DE Deere & Co. | New | 0.01% | +0.01 |
| MRK Merck & Co. Inc. | Add +0.7% | 0.09% | +0.01 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.01% | +0.01 |
| AMD Advanced Micro Devices | New | 0.01% | +0.01 |
| VMBS Vanguard Mortgage-Backed Sec | New | 0.01% | +0.01 |
| TLT iShares 20+ Year Treasury BD | New | 0.01% | +0.01 |
| EVTR Eaton Vance Total Return | New | 0.01% | +0.01 |
| INSP Inspire Medical Systems Inc. | New | 0.01% | +0.01 |
| EQWL Invesco S&P 100 Equal Weight | New | 0.01% | +0.01 |
| BNY Bank of New York Mellon Corp. | New | 0.01% | +0.01 |
| DFAX Dimensional World Ex US Core | Add +27.6% | 0.06% | +0.01 |
Notes & Other Activity Q3 2025 → Q4 2025
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +1.9% | 13,185 | $328K |
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 |