PHILLIPS FINANCIAL MANAGEMENT, LLC

Registered adviser

CIK

1350660

Location

FORT WAYNE, IN

Portfolio Value

Small $934,077,886

Diversification

Highly concentrated

Filing Date

Global Rank

#2,431 / 8,811 ▼ 71 · as of Jun 2026

Top Industry

Banks - Diversified 15.5%

Period ended 21 days ago

Filed Oct 19, 2026 · 2d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 131344

Roster of Oct 1, 2026

Regulatory AUM

$2,636,493,500

Main clients

Individuals and high net worth (64% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$2,636,493,500	Individuals and high net worth (64%)
Apr 2025 to Mar 2026	$2,214,893,239	Individuals and high net worth (62%)
Apr 2024 to Mar 2025	$2,057,903,619	Individuals and high net worth (60%)
May 2023 to Mar 2024	$1,749,643,216	Individuals and high net worth (59%)
Apr 2023	$1,749,643,216	Individuals and high net worth (59%)
Apr 2022 to Mar 2023	$1,541,096,879	Individuals and high net worth (64%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 88.6% of the book (60%+)

Turnover

Low turnover

4.8% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 19.0 quarters (12+), a floor since 27.6% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 88.7%; sector active share 83.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

282 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

60.5%

−1.1 pts

Top 5

79.9%

−0.7 pts

Top 10

88.4%

−0.2 pts

HHI

3,820

Highly concentrated−121

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	92.8%	$867,183,363	207
Technology	2.5%	$23,003,537	22
Financial Services	1.7%	$16,154,188	15
Communication Services	0.7%	$6,292,060	4
Healthcare	0.6%	$5,431,898	8
Consumer Cyclical	0.5%	$4,317,258	3
Industrials	0.4%	$3,675,655	9
Energy	0.3%	$2,516,340	6
Utilities	0.3%	$2,370,691	1
Consumer Defensive	0.2%	$2,322,469	6
Basic Materials	0.1%	$810,427	1

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
DFCF	Dimensional Core Fixed Income ETF	+377,947	2,976,878	$119,432,345
DFSD	Dimensional Short-Duration Fixed Income ETF	+258,182	2,015,032	$93,642,567
DFIC	Dimensional International Core Equity 2 ETF	+79,008	2,543,893	$95,675,815
DFLV	Dimensional US Large Cap Value ETF	+72,867	1,436,766	$57,714,890
DUSB	Dimensional Ultrashort Fixed Income ETF	+51,638	413,302	$20,867,617
SCHP	Schwab U.S. TIPS ETF	+45,831	185,999	$4,674,154
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	+36,119	66,119	$0
IBTH	iShares iBonds Dec 2027 Term Treasury ETF	+35,323	74,005	$0
IBDS	iShares iBonds Dec 2027 Term Corporate ETF	+32,768	110,146	$0
USHY	iShares Broad USD High Yield Corporate Bond ETF	+23,942	477,901	$0
MBB	iShares MBS ETF	+23,660	23,762	$0
DFAT	Dimensional U.S. Targeted Value ETF	+19,119	731,786	$48,619,861
DISV	Dimensional International Small Cap Value ETF	+18,439	66,871	$2,894,845
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	+18,164	1,048,796	$41,658,177
DFAS	Dimensional U.S. Small Cap ETF	+13,306	431,887	$33,436,691
SPY	Spdr S&P 500 ETF Trust	+5,838	19,058	$14,534,202
DIHP	Dimensional International High Profitability ETF	+2,875	4,091	$137,825
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	+1,459	32,739	$1,550,519
ITOT	iShares Core S&P Total U.S. Stock Market ETF	+1,372	14,006	$0
SPHY	State Street(R) SPDR(R) Portfolio High Yield Bond ETF	+1,282	12,852	$290,326
SCHD	Schwab U.S. Dividend Equity ETF	+1,140	1,950	$63,433
MSFT	Microsoft Corp	+984	7,743	$3,971,384
CRWD	CrowdStrike Holdings, Inc.	+924	1,226	$324,583
ICSH	iShares Ultra Short Duration Bond Active ETF	+549	56,459	$2,845,533
NVDA	Nvidia Corp	+419	23,804	$5,436,357
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	−55,916	405	$17,986
BNDX	Vanguard Total International Bond ETF	−50,973	478,258	$22,415,952
IXUS	iShares Core MSCI Total International Stock ETF	−22,138	215,267	$0
IAGG	iShares Core International Aggregate Bond ETF	−13,265	100,232	$0
IJH	iShares Core S&P Mid-Cap ETF	−12,381	442,933	$0
AGG	iShares Core U.S. Aggregate Bond ETF	−11,694	110,610	$0
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	−9,867	135,167	$9,481,965
VXUS	Vanguard Total International Stock ETF	−8,198	411,087	$34,925,951
DFIV	Dimensional International Value ETF	−7,877	175,879	$9,824,600
BIV	Vanguard Bond Index Funds	−7,859	58,173	$4,238,484
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	−6,065	53,859	$4,114,827
USRT	iShares Core U.S. REIT ETF	−5,695	88,813	$0
VNQ	VANGUARD REAL ESTATE INDEX FUND	−5,419	54,239	$4,861,441
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	−5,198	170,695	$6,319,128
LRGF	iShares U.S. Equity Factor ETF	−5,037	215,125	$0
ISTB	iShares Core 1-5 Year USD Bond ETF	−3,944	88,614	$0
DFAC	Dimensional U.S. Core Equity 2 ETF	−3,358	704,170	$31,300,356
VEU	Vanguard International Equity Index Funds	−3,291	87,069	$7,224,114
IJS	iShares S&P Small-Cap 600 Value ETF	−3,187	61,230	$0
IVE	iShares S&P 500 Value ETF	−3,154	116,325	$0
MUB	iShares National Muni Bond ETF	−2,554	21,530	$0
VOOV	VANGUARD S&P 500 VALUE INDEX FUND	−2,035	69,646	$15,345,799
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND	−1,959	85,838	$6,721,973
IGIB	iShares 5-10 Year Investment Grade Corporate Bond ETF	−1,871	16,052	$0
VO	VANGUARD MID-CAP INDEX FUND	−1,633	304,897	$23,910,022
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
VLO	Valero Energy Corp/Tx	779	$301,948
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	4,668	$264,488
MPC	Marathon Petroleum Corp	607	$240,019
PANW	Palo Alto Networks Inc	578	$229,645
MCK	Mckesson Corp	261	$222,844
PLTR	Palantir Technologies Inc.	1,148	$214,733
FRME	First Merchants Corp	5,290	$210,436
DELL	Dell Technologies Inc.	389	$209,262
VSS	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP INDEX FUND	97	$15,059
No positions match the current search.

Sold Out

Positions the filer fully exited

18 positions

Ticker	Company	Shares	Value
DUHP	Dimensional US High Profitability ETF	1,166,460	$48,676,375
DFAR	Dimensional US Real Estate ETF	657,049	$17,188,401
DFSV	Dimensional US Small Cap Value ETF	170,246	$6,603,842
FICO	Fair Isaac Corp	216	$258,072
GLW	Corning Inc /Ny	976	$249,299
GS	Goldman Sachs Group Inc	241	$243,740
FLEX	Flex Ltd.	1,434	$232,408
MS	Morgan Stanley	1,062	$222,000
URI	United Rentals, Inc.	191	$216,381
UNH	Unitedhealth Group Inc	518	$215,296
PEP	Pepsico Inc	1,584	$214,473
FIX	Comfort Systems USA Inc	107	$212,068
LIN	Linde PLC	386	$200,310
FNDF	Schwab Fundamental International Equity ETF	902	$47,589
DCOR	Dimensional ETF Trust	131	$10,739
ARTY	iShares Future AI & Tech ETF	10	$0
IMTM	iShares MSCI Intl Momentum Factor ETF	532	$0
USMV	iShares MSCI USA Min Vol Factor ETF	272	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

282 tracked positions · $934,077,886 total · filing declares 282 positions · $1,306,785,372 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 282 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DFCF	Dimensional Core Fixed Income ETF	Added	2,976,878	+377,947	$119,432,345	+8.9%	12.79%
DFIC	Dimensional International Core Equity 2 ETF	Added	2,543,893	+79,008	$95,675,815	+4.2%	10.24%
DFSD	Dimensional Short-Duration Fixed Income ETF	Added	2,015,032	+258,182	$93,642,567	+11.6%	10.03%
DFLV	Dimensional US Large Cap Value ETF	Added	1,436,766	+72,867	$57,714,890	+7.0%	6.18%
DFAT	Dimensional U.S. Targeted Value ETF	Added	731,786	+19,119	$48,619,861	−2.4%	5.21%
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	Added	1,048,796	+18,164	$41,658,177	−0.5%	4.46%
VOO	VANGUARD 500 INDEX FUND	Reduced	51,285	-586	$35,943,605	+0.9%	3.85%
VXUS	Vanguard Total International Stock ETF	Reduced	411,087	-8,198	$34,925,951	−2.6%	3.74%
DFAS	Dimensional U.S. Small Cap ETF	Added	431,887	+13,306	$33,436,691	−3.0%	3.58%
DFAC	Dimensional U.S. Core Equity 2 ETF	Reduced	704,170	-3,358	$31,300,356	−0.3%	3.35%
VO	VANGUARD MID-CAP INDEX FUND	Reduced	304,897	-1,633	$23,910,022	−3.2%	2.56%
BNDX	Vanguard Total International Bond ETF	Reduced	478,258	-50,973	$22,415,952	−12.5%	2.40%
DUSB	Dimensional Ultrashort Fixed Income ETF	Added	413,302	+51,638	$20,867,617	+13.6%	2.23%
VOOV	VANGUARD S&P 500 VALUE INDEX FUND	Reduced	69,646	-2,035	$15,345,799	−2.3%	1.64%
SPY	Spdr S&P 500 ETF Trust	Added	19,058	+5,838	$14,534,202	+47.2%	1.56%
VBR	VANGUARD SMALL-CAP VALUE INDEX FUND	Reduced	48,633	-927	$11,235,681	−6.7%	1.20%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	27,963	-24	$10,464,873	+1.0%	1.12%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	29,720	-812	$9,832,267	−1.6%	1.05%
DFIV	Dimensional International Value ETF	Reduced	175,879	-7,877	$9,824,600	−1.0%	1.05%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Reduced	135,167	-9,867	$9,481,965	−10.9%	1.02%
MGC	VANGUARD MEGA CAP INDEX FUND	Added	30,536	+60	$8,620,618	+3.4%	0.92%
VTV	VANGUARD VALUE INDEX FUND	Reduced	33,646	-1,264	$7,270,227	−4.4%	0.78%
VEU	Vanguard International Equity Index Funds	Reduced	87,069	-3,291	$7,224,114	−4.5%	0.77%
SCHX	Schwab U.S. Large-Cap ETF	Held	238,838	0	$7,165,140	+1.9%	0.77%
AAPL	Apple Inc. Technology	Added	20,948	+85	$6,976,102	+15.6%	0.75%
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND	Reduced	85,838	-1,959	$6,721,973	−7.4%	0.72%
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	Reduced	170,695	-5,198	$6,319,128	−2.5%	0.68%
MGV	VANGUARD MEGA CAP VALUE INDEX FUND	Held	35,616	0	$5,737,381	−1.4%	0.61%
NVDA	Nvidia Corp Technology	Added	23,804	+419	$5,436,357	+16.2%	0.58%
VNQ	VANGUARD REAL ESTATE INDEX FUND	Reduced	54,239	-5,419	$4,861,441	−15.5%	0.52%
SCHP	Schwab U.S. TIPS ETF	Added	185,999	+45,831	$4,674,154	+25.8%	0.50%
VIOO	VANGUARD S&P SMALL-CAP 600 INDEX FUND	Held	35,274	0	$4,462,866	−8.0%	0.48%
GNR	State Street(R) SPDR(R) S&P(R) Global Natural Resources ETF	Reduced	57,363	-331	$4,243,141	+9.3%	0.45%
BIV	Vanguard Bond Index Funds	Reduced	58,173	-7,859	$4,238,484	−16.3%	0.45%
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	Reduced	53,859	-6,065	$4,114,827	−11.9%	0.44%
MSFT	Microsoft Corp Technology	Added	7,743	+984	$3,971,384	+57.5%	0.43%
VV	VANGUARD LARGE-CAP INDEX FUND	Reduced	11,217	-1,415	$3,946,701	−9.2%	0.42%
IVOO	VANGUARD S&P MID-CAP 400 INDEX FUND	Held	30,737	0	$3,742,537	−6.6%	0.40%
VTIP	VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND	Reduced	75,185	-764	$3,700,605	−3.0%	0.40%
SCHZ	Schwab U.S. Aggregate Bond ETF	Held	164,229	0	$3,629,460	−4.5%	0.39%
SCHA	Schwab U.S. Small-Cap ETF	Added	95,656	+279	$3,121,255	−9.4%	0.33%
DISV	Dimensional International Small Cap Value ETF	Added	66,871	+18,439	$2,894,845	+48.9%	0.31%
VB	Vanguard Index Funds	Reduced	10,150	-16	$2,887,573	−6.3%	0.31%
ICSH	iShares Ultra Short Duration Bond Active ETF	Added	56,459	+549	$2,845,533	+0.6%	0.30%
AMZN	Amazon Com Inc Consumer Cyclical	Added	10,433	+155	$2,599,381	+6.1%	0.28%
GOOGL	Alphabet Inc. Communication Services	Reduced	7,479	-2	$2,573,374	−3.7%	0.28%
LLY	ELI LILLY & Co Healthcare	Reduced	2,171	-166	$2,512,020	−10.4%	0.27%
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	Reduced	31,449	-827	$2,429,435	−4.8%	0.26%
ATO	Atmos Energy Corp Utilities	Reduced	15,154	-13	$2,370,691	−9.3%	0.25%
GOOG	Alphabet Inc. Communication Services	Reduced	6,143	-8	$2,093,165	−3.7%	0.22%

Showing the top 50 of 282 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.