Institutional Manager · CIK 0001259671

WBH ADVISORY INC

BALTIMORE, MD · File #028-10516

Latest AUM

$1.35B

Positions

343

Top-10 Concentration

44.4%

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	SELECT SECTOR SPDR TR	81369Y803	+153,486	+$22.1M	-$18.7M
ADD	SELECT SECTOR SPDR TR	81369Y407	+82,518	+$9.9M	-$10.0M
ADD	FIDELITY MERRIMACK STR TR	316188309	+98,605	+$4.5M	-$122,773
ADD	SPDR SERIES TRUST	78464A854	+54,970	+$4.4M	+$1.2M
ADD	SELECT SECTOR SPDR TR	81369Y506	+74,192	+$3.3M	-$3.4M
REDUCE	ISHARES TR	464288588	-31,885	-$3.0M	+$7,263
REDUCE	ISHARES TR	46432F396	-10,477	-$2.6M	-$73,859
ADD	J P MORGAN EXCHANGE TRADED F	46654Q716	+48,408	+$2.6M	-$12,131
ADD	VANGUARD SCOTTSDALE FDS	92206C409	+18,483	+$1.5M	-$51,017
ADD	SELECT SECTOR SPDR TR	81369Y886	+32,179	+$1.4M	-$1.5M

Sector Allocation

Financials

6.2%$83.8M

Technology

4.0%$53.4M

Industrials

1.4%$18.9M

Consumer Discretionary

1.4%$18.4M

Healthcare

1.3%$17.8M

Consumer Staples

0.7%$9.7M

Communication Services

0.2%$2.6M

0.2%$2.5M

0.1%$1.7M

0.1%$1.4M

0.0%$293,271

Filing History

Jan 26, 202613F HOLDINGS REPORTQ/E Dec 2025343 pos · $1.35B
Oct 30, 202513F HOLDINGS REPORTQ/E Sep 2025343 pos · $1.31B
Jul 30, 202513F HOLDINGS REPORTQ/E Jun 2025334 pos · $1.17B
May 12, 202513F HOLDINGS REPORTQ/E Mar 2025325 pos · $1.07B
Jan 31, 202513F HOLDINGS REPORTQ/E Dec 2024322 pos · $1.08B
Oct 15, 202413F HOLDINGS REPORTQ/E Sep 2024324 pos · $1.06B
Jul 11, 202413F HOLDINGS REPORTQ/E Jun 2024310 pos · $988.0M
Apr 16, 202413F HOLDINGS REPORTQ/E Mar 2024310 pos · $971.8M
Oct 10, 202313F HOLDINGS REPORTQ/E Dec 2023290 pos · $814.9M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD INDEX FDS	922908769	214,675	$72.0M	7.31%
2	VANGUARD WORLD FD	92204A702	88,336	$66.6M	6.76%
3	SPDR SERIES TRUST	78464A854	692,609	$55.6M	5.64%
4	SCHWAB STRATEGIC TR	808524102	2,032,771	$53.3M	5.42%
5	SELECT SECTOR SPDR TR	81369Y803	289,404	$41.7M	4.23%
6	VANGUARD STAR FDS	921909768	480,838	$36.3M	3.68%
7	FIDELITY MERRIMACK STR TR	316188309	712,397	$32.8M	3.33%
8	SCHWAB STRATEGIC TR	808524300	830,325	$27.1M	2.75%
9	VANGUARD BD INDEX FDS	921937835	353,925	$26.2M	2.66%
10	BLACKROCK ETF TRUST	BLK	1,009,318	$25.8M	2.63%
11	VANGUARD INDEX FDS	922908751	92,302	$23.8M	2.42%
12	ISHARES TR	464287200	33,016	$22.6M	2.30%
13	SCHWAB STRATEGIC TR	808524201	826,182	$22.2M	2.26%
14	VANGUARD SCOTTSDALE FDS	92206C409	273,520	$21.8M	2.22%
15	VANGUARD SCOTTSDALE FDS	92206C706	353,297	$21.2M	2.15%
16	SELECT SECTOR SPDR TR	81369Y407	166,078	$19.8M	2.01%
17	MICROSOFT CORP	MSFT	40,859	$19.8M	2.01%
18	BLACKROCK ETF TRUST	BLK	791,606	$19.6M	1.99%
19	SELECT SECTOR SPDR TR	81369Y605	356,666	$19.5M	1.98%
20	APPLE INC	AAPL	71,850	$19.5M	1.98%