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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

Q3 2025 · Filed 2026-03-09
Market Value
$659M
+14.7%
Holdings
132
+9
New Purchases
12
Added To
66
Closed
5
Reduced
36
Top 10 Concentration
67.0%
Turnover
12.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BNDX 6.35% 3.81% +2.54% $42M
VOO 0.30% 0.04% +0.26% $2M
VXF 0.20% 0.00% +0.20% $1M
CGXU 1.25% 1.08% +0.18% $8M
VCRB 2.61% 2.47% +0.14% $17M
AAPL 1.36% 1.24% +0.12% $9M
VXUS 0.09% 0.00% +0.09% $614K
GOOGL 0.27% 0.20% +0.07% $2M
VOOG 0.06% 0.00% +0.06% $421K
DFCA 0.12% 0.07% +0.05% $769K
AMAT 0.04% 0.00% +0.04% $275K
VGUS 0.09% 0.05% +0.04% $625K
BLK 0.04% 0.00% +0.04% $237K
AZO 0.04% 0.00% +0.04% $236K
GEV 0.03% 0.00% +0.03% $226K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MCK 1.44% 1.80% -0.36% $9M
DFAC 20.67% 20.97% -0.30% $136M
AVUS 4.17% 4.45% -0.28% $27M
AVDE 2.72% 2.96% -0.24% $18M
VTIP 2.37% 2.59% -0.21% $16M
AVEM 2.25% 2.45% -0.20% $15M
DUHP 5.94% 6.14% -0.20% $39M
DFAR 2.28% 2.43% -0.15% $15M
VGK 1.13% 1.28% -0.15% $7M
CVX 1.95% 2.07% -0.12% $13M
BND 0.09% 0.19% -0.10% $617K
DFIC 5.25% 5.34% -0.10% $35M
CGIE 0.64% 0.72% -0.08% $4M
LLY 0.31% 0.40% -0.08% $2M
JQUA 0.67% 0.74% -0.07% $4M

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 46 $71M 10.8%
Large Cap 55 $473M 71.8%
Mid Cap 18 $89M 13.6%
Small Cap 11 $25M 3.8%
Micro Cap 2 $460K 0.1%

Portfolio Analytics

Avg Market Cap
$405.1B
Median Market Cap
$98.2B
Avg P/E
36.1
Median P/E
26.7
Avg Dividend Yield
0.01%
Avg Beta
0.93
# Stocks
63
# ETFs / Funds
69

Top Holdings (132 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 DFAC 20.67% 3,529,478 $136M $38.57 $16M +170,091 +5.1%
2 AVDV 7.60% 561,914 $50M $89.03 $6M +8,375 +1.5%
3 AVUV 6.88% 455,237 $45M $99.53 $6M +23,380 +5.4%
4 BNDX 6.35% 845,642 $42M $49.46 $20M +403,731 +91.4%
5 DUHP 5.94% 1,036,432 $39M $37.77 $4M +44,798 +4.5%
6 DFIC 5.25% 1,054,080 $35M $32.79 $4M +67,150 +6.8%
7 DFEM 4.85% 995,245 $32M $32.07 $4M +53,340 +5.7%
8 AVUS 4.17% 252,671 $27M $108.70 $2M -609 -0.2%
9 AVDE 2.72% 227,272 $18M $78.90 $949K -2,192 -1.0%
10 VCRB 2.61% 219,321 $17M $78.41 $3M +36,633 +20.1%
11 VTIP 2.37% 308,783 $16M $50.63 $780K +13,299 +4.5%
12 DFAR 2.28% 629,568 $15M $23.85 $1M +34,379 +5.8%
13 AVEM 2.25% 196,981 $15M $75.11 $723K -8,328 -4.1%
14 CVX 1.95% 82,580 $13M $155.29 $954K -314 -0.4%
15 MCK 1.44% 12,254 $9M $772.54 -$849K -1,823 -12.9%
16 AAPL 1.36% 35,152 $9M $254.63 $2M +550 +1.6%
17 CGXU 1.25% 278,750 $8M $29.62 $2M +50,888 +22.3%
18 VGK 1.13% 93,148 $7M $79.80 $109K -1,358 -1.4%
19 LECO 0.74% 20,770 $5M $235.83 $594K +8 +0.0%
20 JQUA 0.67% 70,495 $4M $62.91 $165K -613 -0.9%
21 CGIE 0.64% 124,525 $4M $33.72 $58K -1,235 -1.0%
22 MSFT 0.62% 7,863 $4M $517.97 $313K +305 +4.0%
23 DFAU 0.57% 82,665 $4M $45.76 $281K +5 +0.0%
24 AVGO 0.55% 11,076 $4M $329.91 $203K -1,442 -11.5%
25 DFAE 0.55% 115,365 $4M $31.53 $156K -4,879 -4.1%
26 DFAT 0.54% 60,858 $4M $58.21 $327K +1,260 +2.1%
27 DCOR 0.49% 45,211 $3M $71.94 $209K -313 -0.7%
28 BAC 0.48% 61,422 $3M $51.59 $248K -299 -0.5%
29 DFGR 0.46% 111,174 $3M $27.31 $34K -719 -0.6%
30 NVDA 0.45% 15,872 $3M $186.58 $469K +99 +0.6%
31 DFSV 0.42% 86,828 $3M $31.84 $233K +814 +0.9%
32 DISV 0.40% 73,412 $3M $35.69 $177K -817 -1.1%
33 AMZN 0.39% 11,825 $3M $219.57 -$50K -238 -2.0%
34 VTES 0.36% 23,373 $2M $101.93 $51K +278 +1.2%
35 DFAI 0.35% 63,846 $2M $36.35 $112K -58 -0.1%
36 DFSU 0.35% 54,001 $2M $42.47 $176K +62 +0.1%
37 TSLA 0.34% 5,100 $2M $444.72 -$77K -2,282 -30.9%
38 IEUR 0.33% 31,974 $2M $68.12 $43K -281 -0.9%
39 IVV 0.32% 3,114 $2M $669.32 $151K
40 LLY 0.31% 2,708 $2M $763.06 -$205K -205 -7.0%
41 VOO 0.30% 3,242 $2M $612.45 $2M +2,863 +755.4%
42 CNOB 0.30% 79,662 $2M $24.81 $131K
43 QUAL 0.29% 9,791 $2M $194.50 $106K -43 -0.4%
44 GOOGL 0.27% 7,311 $2M $243.10 $604K +654 +9.8%
45 GOOG 0.27% 7,264 $2M $243.56 $360K -679 -8.6%
46 VNQ 0.25% 17,658 $2M $91.42 -$13K -611 -3.3%
47 META 0.23% 2,037 $1M $734.39 $74K +110 +5.7%
48 BRK-B 0.23% 2,975 $1M $502.74 $88K +78 +2.7%
49 VBIL 0.22% 18,959 $1M $75.62 $250K +3,296 +21.0%
50 COST 0.21% 1,517 $1M $925.69 -$77K +21 +1.4%
51 VXF 0.20% 6,364 $1M $209.34 +6,364 NEW
52 V 0.20% 3,829 $1M $341.38 -$74K -61 -1.6%
53 ORCL 0.20% 4,639 $1M $281.24 $298K +33 +0.7%
54 SPY 0.18% 1,793 $1M $666.31 $87K
55 CGSM 0.17% 41,433 $1M $26.36 $164K +5,833 +16.4%
56 DFSE 0.16% 24,899 $1M $41.09 -$69K -3,784 -13.2%
57 VEA 0.15% 16,618 $996K $59.92 $80K +557 +3.5%
58 CDNS 0.14% 2,675 $940K $351.26 $118K +9 +0.3%
59 SCHB 0.14% 36,225 $931K $25.71 $60K -338 -0.9%
60 JPM 0.14% 2,867 $904K $315.47 $175K +352 +14.0%
61 ADP 0.13% 2,833 $831K $293.48 -$36K +19 +0.7%
62 IWF 0.12% 1,733 $812K $468.42 $76K
63 HD 0.12% 1,997 $809K $405.17 $108K +84 +4.4%
64 WSM 0.12% 4,044 $790K $195.45 $130K +2 +0.1%
65 DFCA 0.12% 15,439 $769K $49.83 $361K +7,161 +86.5%
66 CAT 0.11% 1,574 $751K $477.15 $151K +28 +1.8%
67 VPLS 0.11% 9,505 $747K $78.63 -$16K -304 -3.1%
68 AVSU 0.11% 10,032 $738K $73.57 $50K
69 JNJ 0.11% 3,868 $717K $185.42 $127K +5 +0.1%
70 CGMU 0.10% 23,326 $637K $27.29 -$111K -4,685 -16.7%
71 SYK 0.10% 1,716 $634K $369.60 -$33K +28 +1.7%
72 VGUS 0.09% 8,265 $625K $75.66 $318K +4,192 +102.9%
73 BND 0.09% 8,297 $617K $74.37 -$481K -6,613 -44.4%
74 VXUS 0.09% 8,352 $614K $73.46 +8,352 NEW
75 WFC 0.09% 7,058 $592K $83.82 -$140K -2,070 -22.7%
76 IWD 0.09% 2,801 $570K $203.60 $26K
77 IJH 0.09% 8,600 $561K $65.26 $28K
78 EXPD 0.08% 4,313 $529K $122.59 $37K +9 +0.2%
79 VWO 0.08% 9,663 $524K $54.18 $60K +292 +3.1%
80 DFNM 0.08% 10,631 $510K $47.98 -$2K -173 -1.6%
81 PEP 0.07% 3,505 $492K $140.46 $42K +93 +2.7%
82 INTC 0.07% 14,558 $488K $33.55 $139K -1,054 -6.8%
83 PG 0.07% 3,079 $473K $153.66 -$10K +45 +1.5%
84 DIS 0.07% 4,059 $465K $114.51 -$28K +84 +2.1%
85 AXP 0.07% 1,365 $453K $332.16 $28K +30 +2.2%
86 CSCO 0.07% 6,583 $450K $68.42 $5K +165 +2.6%
87 GE 0.07% 1,485 $447K $300.75 $90K +99 +7.1%
88 VTI 0.07% 1,319 $433K $328.22 -$237K -886 -40.2%
89 VT 0.07% 3,134 $432K $137.81 $54K +192 +6.5%
90 SCHX 0.07% 16,391 $432K $26.34 $32K +25 +0.1%
91 QQQ 0.06% 701 $421K $600.23 $39K +9 +1.3%
92 VOOG 0.06% 966 $421K $435.46 +966 NEW
93 PHYS 0.06% 14,071 $417K $29.62 $60K
94 DFSI 0.06% 9,783 $401K $40.95 $113K +2,482 +34.0%
95 BA 0.06% 1,801 $389K $215.83 $32K +99 +5.8%
96 MCD 0.06% 1,269 $386K $303.96 $32K +58 +4.8%
97 WMT 0.06% 3,741 $386K $103.06 $53K +340 +10.0%
98 IBM 0.06% 1,341 $378K $282.18 -$417 +56 +4.4%
99 IEFA 0.06% 4,323 $377K $87.31 $94K +923 +27.1%
100 XOM 0.06% 3,306 $373K $112.74 $48K +289 +9.6%

New Positions

SymbolValue% Port
VXF $1M 0.20%
VXUS $614K 0.09%
VOOG $421K 0.06%
AMAT $275K 0.04%
BLK $237K 0.04%
AZO $236K 0.04%
GEV $226K 0.03%
GS $217K 0.03%
GLD $217K 0.03%
BX $213K 0.03%
LOW $201K 0.03%
ABT $201K 0.03%

Sold Out Positions

SymbolValue% Port
AJG —%
KO —%
BMRN —%
VIG —%
VCIT —%
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