Core Holdings Dominate the Lineup (Image Credits: Pixabay)
Fresno, California – Whelan Financial maintained its focus on diversified exchange-traded funds in its latest quarterly disclosure to the Securities and Exchange Commission. The registered investment advisor reported a portfolio value of $322.11 million as of March 31, 2026, across 88 securities.[1][2] Top holdings commanded nearly 77% of assets, reflecting a concentrated strategy amid market volatility.
Minor tweaks marked the quarter, with six new positions added and 13 holdings exited. Turnover reached 8%, signaling deliberate repositioning rather than wholesale overhaul.
Core Holdings Dominate the Lineup
The Schwab U.S. Dividend Equity ETF (SCHD) emerged as the largest position, holding 1.78 million shares worth $54.47 million, or 16.91% of the portfolio. Investors tracking such filings often note SCHD’s appeal for steady income generation.[1]
Invesco NASDAQ 100 ETF (QQQM) followed closely at 15.72%, valued at $50.64 million with 213,128 shares. Vanguard Small-Cap ETF (VB) rounded out the top three at 10.50% and $33.83 million. These equity-focused ETFs provided broad exposure to large-cap growth, dividends, and smaller companies.
| Ticker | Shares | Value ($M) | % Portfolio |
|---|---|---|---|
| SCHD | 1,775,462 | 54.47 | 16.91 |
| QQQM | 213,128 | 50.64 | 15.72 |
| VB | 129,152 | 33.83 | 10.50 |
| VNQ | 264,486 | 23.46 | 7.28 |
| VGIT | 356,093 | 21.21 | 6.58 |
| VCSH | 222,941 | 17.67 | 5.49 |
| BND | 221,140 | 16.28 | 5.06 |
| VO | 48,645 | 13.97 | 4.34 |
| AAPL | 34,271 | 8.70 | 2.70 |
| NVDA | 43,916 | 7.66 | 2.38 |
Notable Additions Signal Fixed-Income Shift
Whelan Financial initiated a substantial stake in the Vanguard Intermediate-Term Treasury ETF (VGIT), deploying $21.21 million for 356,093 shares. This new buy represented 6.58% of assets and stood as the second-largest position by value added during the period.[1] Such a move suggested hedging against equity risks or preparing for interest rate expectations.
Other increases included NVIDIA Corp (NVDA), where shares rose 31.4% to $7.66 million, and Vanguard Mid-Cap ETF (VO) with a 4.5% addition valued at nearly $594,000. Vanguard Real Estate ETF (VNQ) saw a modest 1.9% uptick to $23.46 million. These adjustments boosted technology and mid-cap exposure while enhancing real estate weighting.
- VGIT: New position, +$21.21 million
- NVDA: +$1.83 million (31.4% share increase)
- VO: +$594,745
- QQQM: +$552,942
- VNQ: +$441,016
Trims and Exits Reflect Pruning
The firm significantly reduced its Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) holding by $20.88 million, likely reallocating to longer-duration Treasuries like VGIT. Holdings in Walt Disney (DIS) dropped by $1.56 million, with full exits from positions such as iShares Bitcoin Trust (IBIT) and others.
Smaller reductions hit Carnival Corp (CCL) and Wells Fargo (WFC), alongside trims in SCHD and VB. Overall, 56 positions received additions, but 17 saw cuts, indicating selective refinement rather than broad selling.
- VTIP: -$20.88 million
- DIS: -$1.56 million
- CCL: -$268,019
- WFC: -$242,684
- IBIT: -$238,370
Broader Context for Investors
Whelan Financial oversees assets primarily for high-net-worth individuals and pension plans, with total discretionary AUM exceeding $674 million as reported in recent Form ADV updates. The 13F captures only equity and certain long positions, underscoring the firm’s ETF-centric approach for client portfolios.
From the prior quarter ending December 31, 2025 – when assets stood at $320 million – the portfolio grew modestly by 0.63%, maintaining 100% allocation to stocks and ETFs. Individual names like Apple gained shares after prior reductions, while NVIDIA’s surge highlighted selective growth bets.[3]
Such disclosures offer a window into institutional strategies, though managers like Whelan Financial emphasize long-term planning over short-term trades. As markets navigate inflation and rate uncertainties, these shifts may preview wider trends in balanced portfolios.
Market participants will watch upcoming quarters for sustained emphasis on Treasuries and tech amid evolving economic signals.