Managers / Q4 2025 · view latest →
ERn Financial, LLC
CIK 0001768302 · 8215 GREENWAY BOULEVARD, SUITE 540, MIDDLETON, WI, 53562 · 6086651714
Summary
Ern Financial, LLC reported $532M in U.S.-listed holdings across 146 positions for Q4 2025.
Its largest position, Spdr Series, represents 7.6% of the portfolio.
Compared with Q3 2025, the fund opened 8 new positions and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 93.6% · $498M
- Common Stock · 6.3% · $34M
- Other · 0.1% · $287,148
- ADR · 0.0% · $46,540
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| J P MORGAN EXCHANGE TRADED F | NEW | +74.0K | 74.0K | +$7M | $7M |
| VANECK ETF TRUST | NEW | +98.3K | 98.3K | +$3M | $3M |
| ISHARES TR | NEW | +4.4K | 4.4K | +$425,128 | $425,128 |
| CGNGCAPITAL GROUP NEW GEOGRAPHY | NEW | +10.7K | 10.7K | +$341,875 | $341,875 |
| MUMICRON TECHNOLOGY INC | NEW | +889 | 889 | +$253,729 | $253,729 |
| CRMSALESFORCE INC | NEW | +948 | 948 | +$251,050 | $251,050 |
| APHAMPHENOL CORP NEW | NEW | +1.7K | 1.7K | +$230,961 | $230,961 |
| INVESCO EXCH TRADED FD TR II | NEW | +1.9K | 1.9K | +$222,321 | $222,321 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SPDR SERIES TRUST | STATE STREET SPD | 25.02% | $133M | 2.17M |
| 2 | ISHARES TR | CORE MSCI EAFE · MSCI USA QLT FCT · GLOBAL REIT ETF · CRE U S REIT ETF · MSCI EAFE ETF · CORE S&P SCP ETF · CORE S&P500 ETF · CORE S&P MCP ETF | 12.41% | $66M | 966.6K |
| 3 | SPDR INDEX SHS FDS | PORTFOLIO DEVLPD · PORTFOLIO EMG MK | 8.10% | $43M | 955.0K |
| 4 | DFAXDIMENSIONAL ETF TRUST | WORLD EX US CORE · CORE FIXED INCOM · INTL CORE EQT MK · US CORE EQT MKT | 5.33% | $28M | 747.1K |
| 5 | AMERICAN CENTY ETF TR | AVANTIS EMGMKT · FOCUSED DYNAMIC · US SML CP VALU | 5.15% | $27M | 294.0K |
| 6 | VUGVANGUARD INDEX FDS | GROWTH ETF · S&P 500 ETF SHS · VALUE ETF · MCAP GR IDXVIP · MID CAP ETF | 4.91% | $26M | 69.6K |
| 7 | PIMCO ETF TR | MULTISECTOR BD · INTER MUN BD ACT | 3.48% | $19M | 568.8K |
| 8 | J P MORGAN EXCHANGE TRADED F | U S TECH LEADERS · ACTIVE BOND ETF · ULTRA SHT MUNCPL | 3.05% | $16M | 256.0K |
| 9 | VICTORY PORTFOLIOS II | SHORT TRM BD ETF | 3.01% | $16M | 315.3K |
| 10 | JOHN HANCOCK EXCHANGE TRADED | MLTFCTR LRG CAP · MULTIFACTOR MI | 2.69% | $14M | 189.8K |
| 11 | INVESCO EXCH TRD SLF IDX FD | RUSL 1000 DYNM | 1.92% | $10M | 167.4K |
| 12 | FIRST TR EXCHNG TRADED FD VI | SMITH OPPORT FXD · FT VEST US EQT | 1.73% | $9M | 193.5K |
| 13 | HARTFORD FDS EXCHANGE TRADED | MUN OPORTUNITE | 1.54% | $8M | 208.9K |
| 14 | FIRST TR EXCH TRADED FD III | MANAGD MUN ETF | 1.53% | $8M | 158.8K |
| 15 | VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 1.36% | $7M | 59.3K |
| 16 | PUTNAM ETF TRUST | FOCUSED LAR CAP | 1.19% | $6M | 139.3K |
| 17 | AAPLAPPLE INC | COM | 0.89% | $5M | 17.5K |
| 18 | BLACKROCK ETF TRUST | ISHARES US EQUIT | 0.88% | $5M | 77.2K |
| 19 | VANECK ETF TRUST | REAL ASSETS ETF | 0.65% | $3M | 98.3K |
| 20 | FIRST TR EXCHANGE-TRADED FD | SHS | 0.53% | $3M | 61.7K |
| 21 | NVDANVIDIA CORPORATION | COM | 0.52% | $3M | 14.7K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $532M | 150 | Apr 24, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $532M | 146 | Jan 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $506M | 140 | Oct 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $474M | 145 | Jul 17, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $633M | 180 | Apr 21, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $667M | 190 | Jan 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $657M | 187 | Oct 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024REVEALED | $1.2B | 354 | Jul 17, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $577M | 173 | Apr 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $529M | 166 | Jan 19, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $461M | 166 | Nov 6, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $478M | 167 | Aug 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $455M | 169 | May 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $439M | 172 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $391M | 159 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $410M | 164 | Aug 2, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $452M | 172 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $448M | 156 | Feb 11, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $390M | 137 | Nov 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $282M | 104 | Aug 6, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $259M | 95 | Apr 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $243M | 88 | Feb 24, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $214M | 77 | Nov 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $197M | 76 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $152M | 63 | May 11, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $172M | 68 | Feb 11, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $140M | 58 | Nov 7, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $133M | 57 | Aug 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $166M | 75 | Apr 18, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $111M | 60 | Feb 19, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.