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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

Q4 2025 · Filed 2026-03-09
Market Value
$706M
+7.2%
Holdings
129
-3
New Purchases
2
Added To
71
Closed
4
Reduced
42
Top 10 Concentration
67.1%
Turnover
4.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VCRB 2.92% 2.61% +0.31% $21M
VBIL 0.50% 0.22% +0.28% $4M
BNDX 6.53% 6.35% +0.18% $46M
DFIC 5.43% 5.25% +0.18% $38M
CGXU 1.41% 1.25% +0.16% $10M
TSLA 0.48% 0.34% +0.13% $3M
AVSU 0.20% 0.11% +0.09% $1M
LLY 0.40% 0.31% +0.08% $3M
GOOGL 0.34% 0.27% +0.07% $2M
GOOG 0.33% 0.27% +0.06% $2M
CGIE 0.69% 0.64% +0.05% $5M
VTIP 2.42% 2.37% +0.05% $17M
LMT 0.03% 0.00% +0.03% $215K
VOO 0.33% 0.30% +0.03% $2M
AVSD 0.07% 0.04% +0.03% $464K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AVUS 3.97% 4.17% -0.20% $28M
CVX 1.78% 1.95% -0.16% $13M
AVEM 2.09% 2.25% -0.15% $15M
DUHP 5.81% 5.94% -0.13% $41M
DFAR 2.19% 2.28% -0.09% $15M
AVDE 2.64% 2.72% -0.08% $19M
ORCL 0.13% 0.20% -0.07% $907K
MSFT 0.56% 0.62% -0.06% $4M
DFAC 20.62% 20.67% -0.05% $146M
AVUV 6.83% 6.88% -0.05% $48M
AVDV 7.55% 7.60% -0.05% $53M
JQUA 0.63% 0.67% -0.04% $4M
DFGR 0.42% 0.46% -0.04% $3M
LECO 0.70% 0.74% -0.04% $5M
COST 0.17% 0.21% -0.04% $1M

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 $76M 10.8%
Large Cap 52 $502M 71.1%
Mid Cap 18 $100M 14.2%
Small Cap 11 $27M 3.8%
Micro Cap 2 $847K 0.1%

Portfolio Analytics

Avg Market Cap
$416.7B
Median Market Cap
$117.2B
Avg P/E
38.1
Median P/E
26.6
Avg Dividend Yield
0.01%
Avg Beta
0.95
# Stocks
62
# ETFs / Funds
67

Top Holdings (129 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 DFAC 20.62% 3,678,371 $146M $39.59 $9M +148,893 +4.2%
2 AVDV 7.55% 567,497 $53M $93.97 $3M +5,583 +1.0%
3 AVUV 6.83% 473,099 $48M $101.98 $3M +17,862 +3.9%
4 BNDX 6.53% 954,414 $46M $48.32 $4M +108,772 +12.9%
5 DUHP 5.81% 1,079,349 $41M $38.03 $2M +42,917 +4.1%
6 DFIC 5.43% 1,111,853 $38M $34.46 $4M +57,773 +5.5%
7 DFEM 4.84% 1,033,237 $34M $33.08 $2M +37,992 +3.8%
8 AVUS 3.97% 251,058 $28M $111.78 $598K -1,613 -0.6%
9 VCRB 2.92% 264,826 $21M $77.90 $3M +45,505 +20.8%
10 AVDE 2.64% 226,482 $19M $82.32 $712K -790 -0.3%
11 VTIP 2.42% 345,508 $17M $49.46 $1M +36,725 +11.9%
12 DFAR 2.19% 674,979 $15M $22.90 $443K +45,411 +7.2%
13 AVEM 2.09% 191,892 $15M $77.02 -$16K -5,089 -2.6%
14 CVX 1.78% 82,664 $13M $152.41 -$225K +84 +0.1%
15 CGXU 1.41% 337,912 $10M $29.55 $2M +59,162 +21.2%
16 MCK 1.41% 12,158 $10M $820.29 $506K -96 -0.8%
17 AAPL 1.35% 35,077 $10M $271.86 $585K -75 -0.2%
18 VGK 1.10% 93,124 $8M $83.61 $353K -24 -0.0%
19 LECO 0.70% 20,764 $5M $239.64 $78K -6 -0.0%
20 CGIE 0.69% 139,139 $5M $34.82 $646K +14,614 +11.7%
21 JQUA 0.63% 70,243 $4M $63.18 $3K -252 -0.4%
22 DFAU 0.56% 85,007 $4M $46.80 $196K +2,342 +2.8%
23 MSFT 0.56% 8,205 $4M $483.65 -$104K +342 +4.3%
24 AVGO 0.55% 11,184 $4M $346.10 $217K +108 +1.0%
25 DFAE 0.53% 114,608 $4M $32.57 $95K -757 -0.7%
26 DFAT 0.52% 62,265 $4M $59.54 $165K +1,407 +2.3%
27 VBIL 0.50% 46,760 $4M $75.43 $2M +27,801 +146.6%
28 TSLA 0.48% 7,510 $3M $449.72 $1M +2,410 +47.2%
29 DCOR 0.47% 45,128 $3M $73.63 $70K -83 -0.2%
30 BAC 0.45% 57,380 $3M $55.00 -$13K -4,042 -6.6%
31 NVDA 0.44% 16,846 $3M $186.50 $180K +974 +6.1%
32 DFGR 0.42% 111,389 $3M $26.42 -$93K +215 +0.2%
33 DFSV 0.40% 86,652 $3M $32.89 $85K -176 -0.2%
34 LLY 0.40% 2,615 $3M $1,074.78 $744K -93 -3.4%
35 AMZN 0.40% 12,117 $3M $230.82 $200K +292 +2.5%
36 DISV 0.39% 72,917 $3M $38.00 $151K -495 -0.7%
37 VTES 0.37% 25,989 $3M $101.58 $258K +2,616 +11.2%
38 DFSU 0.37% 59,720 $3M $43.43 $300K +5,719 +10.6%
39 GOOGL 0.34% 7,665 $2M $313.00 $622K +354 +4.8%
40 DFAI 0.34% 62,784 $2M $38.11 $72K -1,062 -1.7%
41 GOOG 0.33% 7,463 $2M $313.79 $573K +199 +2.7%
42 VOO 0.33% 3,732 $2M $627.10 $355K +490 +15.1%
43 IVV 0.32% 3,309 $2M $685.00 $182K +195 +6.3%
44 IEUR 0.31% 30,864 $2M $70.98 $13K -1,110 -3.5%
45 CNOB 0.30% 79,662 $2M $26.22 $112K
46 QUAL 0.27% 9,766 $2M $198.62 $35K -25 -0.3%
47 BRK-B 0.23% 3,162 $2M $502.65 $94K +187 +6.3%
48 VNQ 0.22% 17,347 $2M $88.49 -$79K -311 -1.8%
49 AVSU 0.20% 18,655 $1M $76.30 $685K +8,623 +86.0%
50 SPY 0.20% 2,063 $1M $681.78 $212K +270 +15.1%
51 META 0.20% 2,095 $1M $660.10 -$113K +58 +2.9%
52 V 0.19% 3,892 $1M $350.71 $58K +63 +1.6%
53 VXF 0.19% 6,360 $1M $209.12 -$2K -4 -0.1%
54 COST 0.17% 1,428 $1M $862.40 -$173K -89 -5.9%
55 CGSM 0.16% 42,575 $1M $26.34 $29K +1,142 +2.8%
56 DFSE 0.16% 26,810 $1M $41.48 $89K +1,911 +7.7%
57 VEA 0.15% 16,841 $1M $62.47 $56K +223 +1.3%
58 JPM 0.14% 3,031 $977K $322.26 $72K +164 +5.7%
59 CAT 0.13% 1,640 $940K $572.87 $188K +66 +4.2%
60 SCHB 0.13% 35,559 $933K $26.23 $1K -666 -1.8%
61 DFCA 0.13% 18,192 $911K $50.08 $142K +2,753 +17.8%
62 ORCL 0.13% 4,655 $907K $194.93 -$397K +16 +0.3%
63 JNJ 0.12% 4,063 $841K $206.95 $124K +195 +5.0%
64 CGMU 0.12% 30,239 $828K $27.38 $191K +6,913 +29.6%
65 IWF 0.12% 1,738 $823K $473.31 $11K +5 +0.3%
66 CDNS 0.11% 2,540 $794K $312.58 -$146K -135 -5.0%
67 VXUS 0.11% 10,234 $772K $75.44 $159K +1,882 +22.5%
68 VPLS 0.11% 9,501 $742K $78.12 -$5K -4 -0.0%
69 WSM 0.10% 4,050 $723K $178.59 -$67K +6 +0.1%
70 ADP 0.10% 2,795 $719K $257.21 -$113K -38 -1.3%
71 HD 0.10% 1,978 $681K $344.08 -$129K -19 -0.9%
72 WFC 0.09% 7,183 $669K $93.21 $78K +125 +1.8%
73 EXPD 0.09% 4,308 $642K $149.01 $113K -5 -0.1%
74 IJH 0.09% 9,335 $616K $66.00 $55K +735 +8.6%
75 SYK 0.09% 1,726 $607K $351.41 -$28K +10 +0.6%
76 BND 0.09% 8,108 $601K $74.07 -$16K -189 -2.3%
77 IWD 0.08% 2,801 $589K $210.35 $19K
78 VGUS 0.08% 7,522 $568K $75.47 -$58K -743 -9.0%
79 INTC 0.08% 14,733 $544K $36.90 $55K +175 +1.2%
80 VWO 0.07% 9,640 $518K $53.76 -$5K -23 -0.2%
81 DFNM 0.07% 10,670 $514K $48.17 $4K +39 +0.4%
82 PEP 0.07% 3,549 $509K $143.54 $17K +44 +1.3%
83 DFSI 0.07% 11,814 $506K $42.85 $106K +2,031 +20.8%
84 GE 0.07% 1,628 $501K $307.96 $55K +143 +9.6%
85 CSCO 0.07% 6,448 $497K $77.04 $46K -135 -2.0%
86 AXP 0.07% 1,338 $495K $369.95 $42K -27 -2.0%
87 WMT 0.07% 4,335 $483K $111.41 $97K +594 +15.9%
88 DIS 0.07% 4,172 $475K $113.78 $10K +113 +2.8%
89 PHYS 0.07% 14,071 $465K $33.02 $48K
90 AVSD 0.07% 6,247 $464K $74.26 $227K +2,933 +88.5%
91 VTI 0.06% 1,342 $450K $335.36 $17K +23 +1.7%
92 PG 0.06% 3,069 $440K $143.33 -$33K -10 -0.3%
93 ISRG 0.06% 768 $435K $566.36 $116K +55 +7.7%
94 VUSB 0.06% 8,661 $432K $49.84 $101K +2,053 +31.1%
95 VT 0.06% 3,057 $431K $141.06 -$652 -77 -2.5%
96 VOOG 0.06% 966 $429K $444.59 $9K
97 XOM 0.06% 3,564 $429K $120.33 $56K +258 +7.8%
98 SCHX 0.06% 15,842 $426K $26.91 -$5K -549 -3.4%
99 MCD 0.06% 1,362 $416K $305.69 $31K +93 +7.3%
100 ABBV 0.06% 1,763 $403K $228.49 $55K +261 +17.4%

New Positions

SymbolValue% Port
LMT $215K 0.03%
AMD $205K 0.03%

Sold Out Positions

SymbolValue% Port
ABT —%
BX —%
AZO —%
TXN —%
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