Institutional Manager · CIK 0000941519

STEPH & CO

MARINETTE, WI · File #028-20180

Latest AUM

$347.0M

Positions

310

Top-10 Concentration

72.1%

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
NEW	Fidelity Enhanced International	31609A404	+300,458	+$11.0M	$0
ADD	JPMorgan Active Value ETF	46641Q167	+70,458	+$5.1M	+$2.1M
ADD	JPMorgan Active Growth ETF	46654Q609	+19,675	+$1.8M	-$454,588
ADD	Fidelity Total Bond ETF	316188309	+18,403	+$847,274	-$50,396
ADD	PIMCO Total Return Active ETF	72201R775	+8,775	+$816,777	-$33,820
ADD	Vanguard MEGA Cap ETF	921910873	+1,877	+$471,446	+$258,859
EXITED	Axis Capital Holdings Ltd	G0692U109	-4,098	-$392,588	$0
REDUCE	Vanguard S&P 500 Index ETF	922908363	-575	-$360,600	+$1.1M
REDUCE	Johnson & Johnson Com	JNJ	-1,654	-$342,295	+$107,628
REDUCE	Sonoco Products Co	835495102	-7,715	-$336,682	+$5,785

Sector Allocation

6.0%$20.7M

1.3%$4.5M

1.0%$3.5M

0.6%$2.2M

0.6%$2.2M

0.6%$2.1M

Consumer Discretionary

0.5%$1.9M

Consumer Staples

0.3%$977,106

Communication Services

0.3%$922,159

Real Estate

0.0%$41,554

Materials

0.0%$34,135

Filing History

Jan 23, 202613F HOLDINGS REPORTQ/E Dec 2025310 pos · $347.0M
Oct 6, 202513F HOLDINGS REPORTQ/E Sep 2025315 pos · $327.5M
Jul 16, 202513F HOLDINGS REPORTQ/E Jun 2025296 pos · $308.3M
Apr 23, 202513F HOLDINGS REPORTQ/E Mar 2025260 pos · $278.2M
Jan 14, 202513F HOLDINGS REPORTQ/E Dec 2024274 pos · $296.3M
Oct 15, 202413F HOLDINGS REPORTQ/E Sep 2024294 pos · $314.2M
Jul 30, 202413F HOLDINGS REPORTQ/E Jun 2024262 pos · $293.3M
Apr 12, 202413F HOLDINGS REPORTQ/E Mar 2024279 pos · $290.5M
Oct 26, 202313F HOLDINGS REPORTQ/E Dec 2023293 pos · $179.0M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	JPMorgan Active Value ETF	46641Q167	822,317	$59.0M	18.53%
2	Vanguard S&P 500 Index ETF	922908363	75,772	$47.5M	14.93%
3	JPMorgan Active Growth ETF	46654Q609	498,188	$46.2M	14.52%
4	iShares Russell Midcap Index ETF	464287499	131,580	$12.7M	3.98%
5	PIMCO Total Return Active ETF	72201R775	134,031	$12.5M	3.92%
6	Fidelity Total Bond ETF	316188309	270,381	$12.4M	3.91%
7	Fidelity Enhanced International	31609A404	300,458	$11.0M	3.45%
8	Vanguard MEGA Cap ETF	921910873	38,439	$9.7M	3.03%
9	Global Upstream Natural Resources ETF	FLEX	208,188	$9.5M	3.00%
10	Vanguard Small-Cap ETF	922908751	34,369	$8.9M	2.79%
11	Vanguard Total Stock Market ETF	922908769	23,302	$7.8M	2.45%
12	Vanguard Mid Cap ETF	922908629	24,615	$7.1M	2.24%
13	iShares S&P 500 Index ETF	464287200	10,164	$7.0M	2.19%
14	Vanguard FTSE Developed Markets Index ETF	921943858	109,492	$6.8M	2.15%
15	iShares Russell 2000 Index ETF	464287655	21,332	$5.3M	1.65%
16	SPDR S&P 500 ETF	SPY	6,704	$4.6M	1.44%
17	Pimco Intermediate Municipal Bond ETF	72201R866	85,644	$4.5M	1.41%
18	Vanguard Mid-Cap Growth ETF	922908538	12,816	$3.6M	1.12%
19	FlexShares Global Broad Infrastructure ETF	FLEX	58,710	$3.6M	1.12%
20	Vanguard Tax-Exempt Bond Index ETF	922907746	68,060	$3.4M	1.08%