Institutional Manager · CIK 0001747799

Brio Consultants, LLC

SAN FRANCISCO, CA · File #028-19018

Latest AUM

$769.5M

Positions

146

Top-10 Concentration

63.6%

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	SPDR INDEX SHS FDS	78463X509	+263,455	+$12.3M	$0
REDUCE	ISHARES INC	464286533	-179,493	-$11.5M	+$41,822
ADD	VANGUARD BD INDEX FDS	921937835	+64,554	+$4.8M	-$248,162
ADD	INVESCO ACTIVELY MANAGED EXC	IVZ	+78,129	+$3.7M	-$95,387
ADD	SPDR SERIES TRUST	78464A854	+45,065	+$3.6M	+$30,797
ADD	VANGUARD SCOTTSDALE FDS	92206C714	+28,934	+$2.7M	+$1.0M
REDUCE	SCHWAB STRATEGIC TR	808524300	-79,263	-$2.6M	+$1.6M
REDUCE	ISHARES TR	46435G268	-32,943	-$2.5M	+$172,116
ADD	GOLDMAN SACHS ETF TR	NVGLF	+42,332	+$1.8M	+$1.8M
ADD	HARTFORD FDS EXCHANGE TRADED	41653L305	+46,730	+$1.6M	-$66,204

Sector Allocation

Financials

8.6%$66.5M

Technology

3.8%$28.9M

Consumer Discretionary

0.3%$2.4M

Communication Services

0.1%$1.2M

0.1%$1.0M

0.1%$913,450

0.1%$570,261

0.0%$304,558

0.0%$203,805

Filing History

Feb 4, 202613F HOLDINGS REPORTQ/E Dec 2025146 pos · $769.5M
Nov 10, 202513F HOLDINGS REPORTQ/E Sep 2025137 pos · $726.8M
Aug 7, 202513F HOLDINGS REPORTQ/E Jun 2025134 pos · $684.5M
Jul 7, 202513F HOLDINGS REPORT (Amended)Q/E Jun 2025119 pos · $636.9M
May 7, 202513F HOLDINGS REPORTQ/E Mar 2025119 pos · $636.9M
Jan 24, 202513F HOLDINGS REPORTQ/E Dec 2024115 pos · $639.0M
Oct 18, 202413F HOLDINGS REPORTQ/E Sep 2024106 pos · $628.5M
Aug 5, 202413F HOLDINGS REPORTQ/E Jun 202496 pos · $606.5M
Apr 29, 202413F HOLDINGS REPORTQ/E Mar 202494 pos · $593.0M
Oct 27, 202313F HOLDINGS REPORTQ/E Dec 202395 pos · $532.5M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD INDEX FDS	922908363	131,014	$82.2M	11.70%
2	SCHWAB STRATEGIC TR	808524300	2,135,184	$69.6M	9.92%
3	VANGUARD BD INDEX FDS	921937835	891,816	$66.1M	9.41%
4	INVESCO ACTIVELY MANAGED EXC	IVZ	1,137,747	$54.0M	7.69%
5	GOLDMAN SACHS ETF TR	NVGLF	1,022,545	$43.9M	6.26%
6	SPDR INDEX SHS FDS	78463X889	972,284	$43.2M	6.15%
7	VANGUARD SCOTTSDALE FDS	92206C714	374,469	$34.6M	4.92%
8	SPDR SERIES TRUST	78468R861	946,670	$18.1M	2.57%
9	HARTFORD FDS EXCHANGE TRADED	41653L305	519,504	$17.7M	2.53%
10	ISHARES TR	46435G672	336,775	$16.8M	2.40%
11	ISHARES TR	464287671	81,460	$13.7M	1.95%
12	SPDR INDEX SHS FDS	78463X509	263,455	$12.3M	1.76%
13	ISHARES TR	464288356	198,177	$11.4M	1.62%
14	VANGUARD INDEX FDS	922908736	21,579	$10.5M	1.50%
15	ISHARES TR	46435U713	188,282	$9.9M	1.41%
16	SELECT SECTOR SPDR TR	81369Y860	229,277	$9.3M	1.32%
17	VANGUARD SPECIALIZED FUNDS	921908844	42,046	$9.2M	1.32%
18	SPDR INDEX SHS FDS	78463X434	99,648	$9.0M	1.29%
19	ISHARES TR	46434V274	237,995	$9.0M	1.28%
20	APPLE INC	AAPL	32,701	$8.9M	1.27%