Institutional Manager · CIK 0001795934

CBIZ Investment Advisory Services, LLC

INDEPENDENCE, OH · File #028-19859

Latest AUM

$2.64B

Positions

776

Top-10 Concentration

92.5%

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
REDUCE	VANGUARD INTL EQUITY INDEX F	922042858	-1,971,733	-$106.0M	-$833,684
ADD	VANGUARD BD INDEX FDS	921937835	+394,349	+$29.2M	-$2.3M
ADD	VANGUARD INDEX FDS	922908629	+83,647	+$23.9M	-$2.1M
ADD	INVESCO EXCHANGE TRADED FD T	IVZ	+43,580	+$8.3M	+$313,950
ADD	VANGUARD INDEX FDS	922908744	+33,241	+$6.3M	+$9.3M
ADD	VANGUARD INTL EQUITY INDEX F	922042775	+49,004	+$3.6M	+$11.7M
ADD	ISHARES TR	464287200	+4,175	+$2.9M	+$434,154
REDUCE	APPLE INC	AAPL	-9,449	-$2.6M	+$249,717
ADD	ISHARES TR	464288513	+23,564	+$1.9M	-$216,302
ADD	VANGUARD SCOTTSDALE FDS	92206C870	+17,868	+$1.5M	-$127,056

Sector Allocation

Financials

11.7%$310.0M

Industrials

1.5%$40.5M

Technology

0.4%$11.2M

Consumer Discretionary

0.1%$2.1M

Healthcare

0.1%$2.3M

Consumer Staples

0.0%$1.0M

Energy

0.0%$588,272

Communication Services

0.0%$617,328

Utilities

0.0%$193,567

Real Estate

0.0%$180,642

Materials

0.0%$171,858

Filing History

Feb 9, 202613F HOLDINGS REPORTQ/E Dec 2025776 pos · $2.64B
Nov 6, 202513F HOLDINGS REPORTQ/E Sep 2025668 pos · $2.55B
Aug 11, 202513F HOLDINGS REPORTQ/E Jun 2025742 pos · $2.26B
Jun 3, 202513F HOLDINGS REPORT (Amended)Q/E Jun 2025632 pos · $2.04B
May 5, 202513F HOLDINGS REPORTQ/E Mar 2025377 pos · $346.2M
Feb 10, 202513F HOLDINGS REPORTQ/E Dec 2024478 pos · $2.00B
Nov 12, 202413F HOLDINGS REPORTQ/E Sep 2024404 pos · $1.93B
Aug 9, 202413F HOLDINGS REPORTQ/E Jun 2024401 pos · $1.78B
May 13, 202413F HOLDINGS REPORTQ/E Mar 2024357 pos · $1.44B
Nov 3, 202313F HOLDINGS REPORTQ/E Dec 202333 pos · $1.09B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD BD INDEX FDS	921937835	8,006,493	$593.0M	22.58%
2	VANGUARD INDEX FDS	922908736	827,704	$403.8M	15.37%
3	VANGUARD INDEX FDS	922908744	2,109,504	$402.9M	15.34%
4	VANGUARD INTL EQUITY INDEX F	922042775	5,384,662	$396.1M	15.08%
5	INVESCO QQQ TR	IVZ	421,260	$258.8M	9.85%
6	VANGUARD INTL EQUITY INDEX F	922042858	1,974,971	$106.2M	4.04%
7	VANGUARD INDEX FDS	922908629	356,830	$102.1M	3.89%
8	VANGUARD INDEX FDS	922908629	273,183	$79.3M	3.02%
9	INVESCO EXCHANGE TRADED FD T	IVZ	257,030	$49.1M	1.87%
10	TRANSDIGM GROUP INC	TDG	29,047	$38.6M	1.47%
11	VANGUARD INDEX FDS	922908751	132,471	$34.2M	1.30%
12	ISHARES TR	464288513	409,718	$33.0M	1.26%
13	VANGUARD SCOTTSDALE FDS	92206C870	370,814	$31.1M	1.18%
14	ISHARES TR	464287200	31,925	$21.9M	0.83%
15	ISHARES TR	464287200	27,750	$19.0M	0.72%
16	VANGUARD TAX-MANAGED FDS	921943858	174,321	$10.9M	0.41%
17	VANGUARD INDEX FDS	922908769	22,649	$7.6M	0.29%
18	VANGUARD SCOTTSDALE FDS	92206C730	18,971	$5.9M	0.22%
19	ISHARES INC	46434G764	50,307	$3.7M	0.14%
20	APPLE INC	AAPL	13,015	$3.5M	0.13%