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Asset Manager ← All Institutions

Burton Enright Welch

1850 MT DIABLO BLVD STE 335, WALNUT CREEK, CA 94596-4476 • 925-932-8010

Q2 2025 · Filed 2026-03-09
Market Value
$574M
+17.0%
Holdings
123
+18
New Purchases
21
Added To
61
Closed
3
Reduced
29
Top 10 Concentration
65.6%
Turnover
19.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BNDX 3.81% 0.00% +3.81% $22M
AVGO 0.60% 0.00% +0.60% $3M
DCOR 0.53% 0.00% +0.53% $3M
DFAT 0.56% 0.12% +0.44% $3M
CGIE 0.72% 0.36% +0.37% $4M
CNOB 0.32% 0.00% +0.32% $2M
QUAL 0.31% 0.00% +0.31% $2M
AVDE 2.96% 2.74% +0.22% $17M
DFAU 0.61% 0.39% +0.22% $4M
VBIL 0.21% 0.00% +0.21% $1M
IVV 0.34% 0.16% +0.18% $2M
MSFT 0.65% 0.50% +0.15% $4M
NVDA 0.43% 0.30% +0.14% $2M
DISV 0.43% 0.32% +0.10% $2M
IJH 0.09% 0.00% +0.09% $533K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DFAC 20.97% 22.28% -1.31% $120M
DFEM 4.87% 5.74% -0.87% $28M
CVX 2.07% 2.83% -0.76% $12M
AVUV 6.85% 7.36% -0.51% $39M
DUHP 6.14% 6.56% -0.41% $35M
FLIC 0.00% 0.40% -0.40% $0
DFIC 5.34% 5.71% -0.37% $31M
DFAR 2.43% 2.78% -0.35% $14M
VCRB 2.47% 2.81% -0.34% $14M
VTES 0.41% 0.67% -0.27% $2M
VTIP 2.59% 2.82% -0.23% $15M
AVUS 4.45% 4.67% -0.23% $26M
AAPL 1.24% 1.46% -0.22% $7M
CGXU 1.08% 1.30% -0.22% $6M
AVDV 7.64% 7.86% -0.22% $44M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 89.0%
Technology 2.9%
Energy 2.4%
Healthcare 2.1%
Industrials 1.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 42 $63M 10.9%
Large Cap 49 $410M 71.3%
Mid Cap 18 $79M 13.7%
Small Cap 11 $23M 3.9%
Micro Cap 3 $429K 0.1%

Portfolio Analytics

Avg Market Cap
$415.3B
Median Market Cap
$75.8B
Avg P/E
37.4
Median P/E
27.0
Avg Dividend Yield
0.01%
Avg Beta
0.91
# Stocks
57
# ETFs / Funds
66

Top Holdings (123 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 DFAC 20.97% 3,359,387 $120M $35.84 $11M +44,553 +1.3%
2 AVDV 7.64% 553,539 $44M $79.28 $5M +574 +0.1%
3 AVUV 6.85% 431,857 $39M $91.10 $3M +17,506 +4.2%
4 DUHP 6.14% 991,634 $35M $35.56 $3M +20,931 +2.2%
5 DFIC 5.34% 986,930 $31M $31.09 $3M -21,977 -2.2%
6 DFEM 4.87% 941,905 $28M $29.68 -$193K -121,910 -11.5%
7 AVUS 4.45% 253,280 $26M $100.82 $3M +5,054 +2.0%
8 BNDX 3.81% 441,911 $22M $49.51 +441,911 NEW
9 AVDE 2.96% 229,464 $17M $74.01 $4M +26,891 +13.3%
10 VTIP 2.59% 295,484 $15M $50.27 $1M +18,575 +6.7%
11 VCRB 2.47% 182,688 $14M $77.58 $384K +4,606 +2.6%
12 AVEM 2.45% 205,309 $14M $68.54 $2M +765 +0.4%
13 DFAR 2.43% 595,189 $14M $23.46 $299K +20,321 +3.5%
14 CVX 2.07% 82,894 $12M $143.19 -$2M -103 -0.1%
15 MCK 1.80% 14,077 $10M $732.78 $826K -23 -0.2%
16 VGK 1.28% 94,506 $7M $77.50 $608K -1,154 -1.2%
17 AAPL 1.24% 34,602 $7M $205.17 -$52K +2,406 +7.5%
18 CGXU 1.08% 227,862 $6M $27.13 -$180K -32,039 -12.3%
19 LECO 0.75% 20,762 $4M $207.32 $377K
20 JQUA 0.74% 71,108 $4M $60.05 $36K -3,878 -5.2%
21 CGIE 0.72% 125,760 $4M $32.93 $2M +66,197 +111.1%
22 MSFT 0.65% 7,558 $4M $497.43 $1M +980 +14.9%
23 DFAU 0.61% 82,660 $4M $42.36 $2M +32,571 +65.0%
24 DFAE 0.61% 120,244 $3M $28.95 $484K +4,491 +3.9%
25 AVGO 0.60% 12,518 $3M $275.65 +12,518 NEW
26 DFAT 0.56% 59,598 $3M $53.96 $3M +48,589 +441.4%
27 DCOR 0.53% 45,524 $3M $66.85 +45,524 NEW
28 DFGR 0.52% 111,893 $3M $26.83 $54K -373 -0.3%
29 BAC 0.51% 61,721 $3M $47.32 $196K -3,579 -5.5%
30 AMZN 0.46% 12,063 $3M $219.39 -$644K -5,230 -30.2%
31 DFSV 0.44% 86,014 $3M $29.43 -$276K -13,718 -13.8%
32 NVDA 0.43% 15,773 $2M $157.99 $1M +2,279 +16.9%
33 DISV 0.43% 74,229 $2M $32.91 $851K +19,548 +35.8%
34 TSLA 0.41% 7,382 $2M $317.66 $132K -1,156 -13.5%
35 VTES 0.41% 23,095 $2M $100.93 -$970K -9,748 -29.7%
36 LLY 0.40% 2,913 $2M $779.57 -$116K +23 +0.8%
37 DFAI 0.38% 63,904 $2M $34.57 $363K +4,789 +8.1%
38 IEUR 0.37% 32,255 $2M $66.20 $89K -1,759 -5.2%
39 DFSU 0.37% 53,939 $2M $39.25 $604K +11,686 +27.7%
40 IVV 0.34% 3,114 $2M $620.89 $1M +1,757 +129.5%
41 CNOB 0.32% 79,662 $2M $23.16 +79,662 NEW
42 QUAL 0.31% 9,834 $2M $182.82 +9,834 NEW
43 VNQ 0.28% 18,269 $2M $89.06 -$80K -582 -3.1%
44 COST 0.26% 1,496 $1M $990.00 $165K +105 +7.5%
45 META 0.25% 1,927 $1M $738.09 $442K +227 +13.3%
46 GOOG 0.25% 7,943 $1M $177.40 $279K +712 +9.8%
47 BRK-B 0.25% 2,897 $1M $485.77 $81K +407 +16.4%
48 V 0.24% 3,890 $1M $355.05 $63K +130 +3.5%
49 VBIL 0.21% 15,663 $1M $75.55 +15,663 NEW
50 GOOGL 0.20% 6,657 $1M $176.23 $144K +4 +0.1%
51 SPY 0.19% 1,793 $1M $617.88 $44K -109 -5.7%
52 BND 0.19% 14,910 $1M $73.63 -$148K -2,053 -12.1%
53 DFSE 0.19% 28,683 $1M $38.06 $126K
54 ORCL 0.18% 4,606 $1M $218.63 $358K -37 -0.8%
55 CGSM 0.16% 35,600 $928K $26.08 $298K +11,352 +46.8%
56 VEA 0.16% 16,061 $916K $57.01 $371K +5,354 +50.0%
57 SCHB 0.15% 36,563 $871K $23.83 $69K -707 -1.9%
58 ADP 0.15% 2,814 $868K $308.38 $12K +13 +0.5%
59 CDNS 0.14% 2,666 $822K $308.15 $87K -224 -7.8%
60 VPLS 0.13% 9,809 $763K $77.80 -$167K -2,186 -18.2%
61 CGMU 0.13% 28,011 $748K $26.69 $49K +1,965 +7.5%
62 IWF 0.13% 1,733 $736K $424.59 $110K
63 WFC 0.13% 9,128 $731K $80.12 $245K +2,357 +34.8%
64 JPM 0.13% 2,515 $729K $289.95 $239K +515 +25.8%
65 HD 0.12% 1,913 $701K $366.62 $83K +226 +13.4%
66 AVSU 0.12% 10,032 $688K $68.60 $63K
67 VTI 0.12% 2,205 $670K $303.95 $226K +589 +36.5%
68 SYK 0.12% 1,688 $668K $395.56 $118K +210 +14.2%
69 WSM 0.12% 4,042 $660K $163.37 -$51K -457 -10.2%
70 CAT 0.10% 1,546 $600K $388.21 $127K +111 +7.7%
71 JNJ 0.10% 3,863 $590K $152.75 $28K +471 +13.9%
72 IWD 0.09% 2,801 $544K $194.24 $17K
73 IJH 0.09% 8,600 $533K $62.02 +8,600 NEW
74 DFNM 0.09% 10,804 $512K $47.43 -$25K -487 -4.3%
75 DIS 0.09% 3,975 $493K $124.01 $51K -504 -11.2%
76 EXPD 0.09% 4,304 $492K $114.25 -$26K
77 PG 0.08% 3,034 $483K $159.33 $12K +267 +9.7%
78 VWO 0.08% 9,371 $463K $49.46 +9,371 NEW
79 PEP 0.08% 3,412 $451K $132.06 -$31K +199 +6.2%
80 CSCO 0.08% 6,418 $445K $69.38 $68K +305 +5.0%
81 AXP 0.07% 1,335 $426K $318.98 $113K +173 +14.9%
82 DFCA 0.07% 8,278 $408K $49.28 -$952K -19,149 -69.8%
83 SCHX 0.07% 16,366 $400K $24.44 $72K +1,518 +10.2%
84 ISRG 0.07% 730 $397K $543.41 $41K +11 +1.5%
85 QQQ 0.07% 692 $382K $551.95 $57K
86 IBM 0.07% 1,285 $379K $294.80 $118K +235 +22.4%
87 VT 0.07% 2,942 $378K $128.54 $105K +590 +25.1%
88 PHYS 0.06% 14,071 $357K $25.35 $18K
89 GE 0.06% 1,386 $357K $257.32 $85K +26 +1.9%
90 BA 0.06% 1,702 $357K $209.53 $69K +14 +0.8%
91 MCD 0.06% 1,211 $354K $292.24 $11K +114 +10.4%
92 INTC 0.06% 15,612 $350K $22.40 $41K +2,027 +14.9%
93 SCHF 0.06% 15,456 $342K $22.10 $63K +1,396 +9.9%
94 T 0.06% 11,711 $339K $28.94 $7K -13 -0.1%
95 VUSB 0.06% 6,692 $334K $49.87 $14K +283 +4.4%
96 WMT 0.06% 3,401 $333K $97.78 $125K +1,037 +43.9%
97 DFIS 0.06% 10,971 $327K $29.84 $44K
98 XOM 0.06% 3,017 $325K $107.79 -$21K +106 +3.6%
99 VCIT 0.05% 3,796 $315K $82.92 +3,796 NEW
100 VGUS 0.05% 4,073 $308K $75.53 +4,073 NEW

New Positions

SymbolValue% Port
BNDX $22M 3.81%
AVGO $3M 0.60%
DCOR $3M 0.53%
CNOB $2M 0.32%
QUAL $2M 0.31%
VBIL $1M 0.21%
IJH $533K 0.09%
VWO $463K 0.08%
VCIT $315K 0.05%
VGUS $308K 0.05%
KO $290K 0.05%
IEFA $284K 0.05%
SCHW $280K 0.05%
NFLX $272K 0.05%
VGT $240K 0.04%

Sold Out Positions

SymbolValue% Port
AZO —%
DFCF —%
FLIC —%
View SEC EDGAR Filings for Burton Enright Welch →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms