Institutional Manager · CIK 0000853758

MERCER GLOBAL ADVISORS INC /ADV

DENVER, CO · File #028-19468

Latest AUM

$65.60B

Positions

2,840

Top-10 Concentration

53.8%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	ISHARES TR	464287226	+3,032,433	+$302.9M	-$12.3M
ADD	VANGUARD BD INDEX FDS	921937827	+3,590,668	+$283.0M	-$3.8M
ADD	VANGUARD INDEX FDS	922908363	+465,946	+$269.7M	-$164.9M
ADD	VANGUARD CHARLOTTE FDS	92203J407	+3,539,561	+$171.0M	-$35.6M
ADD	APPLE INC	AAPL	+551,772	+$149.4M	+$109.7M
ADD	ISHARES TR	46435U515	+5,503,912	+$141.0M	+$334,826
ADD	NETFLIX INC	NFLX	+1,452,270	+$136.9M	-$181.7M
ADD	DIMENSIONAL ETF TRUST	25434V708	+3,126,277	+$123.8M	+$62.5M
ADD	ISHARES TR	464288414	+1,037,682	+$111.1M	+$4.7M
ADD	ALPHABET INC	GOOG	+304,325	+$95.3M	+$86.2M

Sector Allocation

Technology

9.1%$5.99B

Financials

2.7%$1.76B

Healthcare

2.1%$1.40B

Consumer Discretionary

2.0%$1.35B

Industrials

1.6%$1.09B

Communication Services

1.0%$682.6M

0.8%$556.9M

0.8%$516.5M

0.5%$301.0M

0.2%$163.5M

0.2%$142.6M

Filing History

Feb 18, 202613F HOLDINGS REPORTQ/E Dec 20252,840 pos · $65.60B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 20252,633 pos · $59.91B
Aug 14, 202513F HOLDINGS REPORTQ/E Jun 20252,249 pos · $49.10B
May 15, 202513F HOLDINGS REPORTQ/E Mar 20252,148 pos · $43.59B
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20242,124 pos · $40.99B
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20241,952 pos · $42.73B
Aug 12, 202413F HOLDINGS REPORTQ/E Jun 20242,104 pos · $36.68B
May 15, 202413F HOLDINGS REPORTQ/E Mar 20241,945 pos · $35.2M
Nov 15, 202313F HOLDINGS REPORT (Amended)Q/E Dec 20231,952 pos · $26.3M
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20231,952 pos · $26.3M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	464287226	36,259,568	$3.62B	8.22%
2	VANGUARD BD INDEX FDS	921937827	41,443,879	$3.27B	7.41%
3	VANGUARD INDEX FDS	922908363	5,382,675	$3.12B	7.07%
4	DIMENSIONAL ETF TRUST	25434V708	64,358,203	$2.55B	5.78%
5	VANGUARD TAX-MANAGED FDS	921943858	34,844,186	$2.18B	4.94%
6	ISHARES TR	46432F396	7,824,890	$1.96B	4.45%
7	DIMENSIONAL ETF TRUST	25434V724	39,863,226	$1.86B	4.22%
8	APPLE INC	AAPL	6,601,785	$1.79B	4.06%
9	DIMENSIONAL ETF TRUST	25434V831	44,791,614	$1.70B	3.87%
10	VANGUARD CHARLOTTE FDS	92203J407	34,728,517	$1.68B	3.81%
11	DIMENSIONAL ETF TRUST	25434V799	36,999,033	$1.28B	2.89%
12	ISHARES TR	46434V449	22,855,822	$1.10B	2.49%
13	NVIDIA CORPORATION	NVDA	5,990,493	$1.08B	2.46%
14	DIMENSIONAL ETF TRUST	25434V807	21,523,566	$1.07B	2.44%
15	DIMENSIONAL ETF TRUST	25434V765	30,174,025	$955.5M	2.17%
16	MICROSOFT CORP	MSFT	1,975,658	$953.7M	2.16%
17	ISHARES TR	464288414	8,549,244	$915.7M	2.08%
18	ISHARES TR	464288158	8,489,274	$905.8M	2.06%
19	VANGUARD INTL EQUITY INDEX F	922042858	15,834,560	$851.1M	1.93%
20	AMERICAN CENTY ETF TR	025072323	14,459,274	$849.3M	1.93%