Institutional Manager · CIK 0001776290

Zhang Financial LLC

PORTAGE, MI · File #028-19517

Latest AUM

$2.68B

Positions

339

Top-10 Concentration

59.5%

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	VANGUARD INTERMEDIATE	921937819	+383,659	+$29.9M	-$238,736
ADD	ISHARES CORE	464287226	+166,678	+$16.6M	-$107,103
ADD	VANGUARD MALVERN FDS	922020748	+201,115	+$15.7M	-$19,459
ADD	ISHARES CORE	464287150	+81,977	+$12.2M	+$2.9M
ADD	VANGUARD STAR FDS	921909768	+139,713	+$10.5M	+$3.4M
ADD	VANGUARD GROWTH	922908736	+15,555	+$7.6M	+$290,847
ADD	AVANTIS U S	025072885	+59,260	+$6.6M	+$473,491
ADD	DIMENSIONAL US	25434V609	+109,956	+$6.5M	+$29,029
ADD	ISHARES TR	46436E718	+52,593	+$5.3M	-$2,651
ADD	AVANTIS INTL	025072703	+61,939	+$5.1M	+$1.2M

Sector Allocation

Technology

6.0%$161.7M

Healthcare

2.6%$71.2M

Consumer Discretionary

1.1%$30.4M

Financials

0.9%$24.2M

Industrials

0.9%$23.9M

Communication Services

0.5%$13.2M

0.5%$12.8M

0.2%$5.6M

0.2%$4.6M

0.0%$1.0M

Filing History

Feb 10, 202613F HOLDINGS REPORTQ/E Dec 2025339 pos · $2.68B
Nov 10, 202513F HOLDINGS REPORTQ/E Sep 2025316 pos · $2.46B
Aug 1, 202513F HOLDINGS REPORTQ/E Jun 2025291 pos · $2.17B
Apr 15, 202513F HOLDINGS REPORTQ/E Mar 2025301 pos · $1.89B
Jan 16, 202513F HOLDINGS REPORTQ/E Dec 2024295 pos · $1.75B
Oct 15, 202413F HOLDINGS REPORTQ/E Sep 2024276 pos · $1.58B
Jul 19, 202413F HOLDINGS REPORTQ/E Jun 2024267 pos · $1.43B
Apr 24, 202413F HOLDINGS REPORTQ/E Mar 2024266 pos · $1.35B
Oct 11, 202313F HOLDINGS REPORTQ/E Dec 2023232 pos · $986.7M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD S&P	922908363	310,861	$195.0M	8.68%
2	VANGUARD INDEX FDS	922908769	547,888	$183.7M	8.18%
3	DIMENSIONAL US	25434V401	2,417,863	$179.3M	7.99%
4	ISHARES CORE	464287150	1,051,877	$156.4M	6.96%
5	VANGUARD STAR FDS	921909768	1,880,287	$141.8M	6.32%
6	DIMENSIONAL US	25434V708	3,321,411	$131.5M	5.86%
7	VANGUARD INTERMEDIATE	921937819	1,520,153	$118.4M	5.27%
8	VANGUARD INTL EQUITY INDEX F	922042742	716,978	$101.1M	4.50%
9	DIMENSIONAL ETF TRUST	25434V203	1,824,816	$69.5M	3.10%
10	APPLE INC	AAPL	216,708	$58.9M	2.62%
11	VANGUARD TOTAL	921937835	691,645	$51.2M	2.28%
12	VANGUARD SMALL	922908611	226,870	$48.0M	2.14%
13	ISHARES CORE	464287226	455,781	$45.5M	2.03%
14	VANGUARD HIGH	921946406	314,048	$45.1M	2.01%
15	BNY MELLON	09661T107	312,336	$40.9M	1.82%
16	STRYKER CORP	SYK	110,348	$38.8M	1.73%
17	ISHARES GOLD	IAU	473,420	$38.4M	1.71%
18	AVANTIS INTL	025072703	402,208	$33.1M	1.47%
19	MICROSOFT CORP	MSFT	67,928	$32.9M	1.46%
20	DIMENSIONAL US	25434V104	673,569	$31.5M	1.40%