# Burton Enright Welch

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2105919. Source: https://holderbook.com/funds/2105919-burton-enright-welch/

- Reported value: $851.5M
- Positions: 136
- Weight of the ten largest: 67.8%
- Filed: 2026-07-17

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $176.4M | 3,976,632 | 20.7% | 19 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $63.4M | 507,991 | 7.4% | 16 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $57.1M | 554,449 | 6.7% | 16 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $56.9M | 1,174,634 | 6.7% | 5 |
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $49.9M | 1,194,965 | 5.9% | 13 |
| DIMENSIONAL ETF TRUST | [DFIC](https://holderbook.com/stocks/DFIC/) | $46.1M | 1,238,480 | 5.4% | 17 |
| DIMENSIONAL ETF TRUST | [DFEM](https://holderbook.com/stocks/DFEM/) | $43.6M | 1,073,188 | 5.1% | 17 |
| AMERICAN CENTY ETF TR | [AVUS](https://holderbook.com/stocks/AVUS/) | $34.0M | 265,570 | 4.0% | 18 |
| VANGUARD MALVERN FDS | [VCRB](https://holderbook.com/stocks/VCRB/) | $28.6M | 370,543 | 3.4% | 11 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $21.2M | 422,683 | 2.5% | 10 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $19.6M | 220,226 | 2.3% | 18 |
| DIMENSIONAL ETF TRUST | [DFAR](https://holderbook.com/stocks/DFAR/) | $19.6M | 750,411 | 2.3% | 18 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $16.5M | 171,345 | 1.9% | 18 |
| CAPITAL GROUP INTL FOCUS EQT | [CGXU](https://holderbook.com/stocks/CGXU/) | $15.4M | 445,713 | 1.8% | 11 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $13.1M | 79,217 | 1.5% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $9.8M | 33,722 | 1.1% | 19 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $8.9M | 11,745 | 1.0% | 19 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $7.8M | 87,560 | 0.9% | 19 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $6.1M | 30,449 | 0.7% | 19 |
| LINCOLN ELEC HLDGS INC | [LECO](https://holderbook.com/stocks/LECO/) | $6.0M | 22,764 | 0.7% | 19 |
| J P MORGAN EXCHANGE TRADED F | [JQUA](https://holderbook.com/stocks/JQUA/) | $5.8M | 80,157 | 0.7% | 11 |
| CAPITAL GROUP INTERNATIONAL | [CGIE](https://holderbook.com/stocks/CGIE/) | $5.2M | 142,416 | 0.6% | 8 |
| VANGUARD INSTL INDEX FD | [VBIL](https://holderbook.com/stocks/VBIL/) | $4.8M | 63,128 | 0.6% | 5 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $4.6M | 114,926 | 0.5% | 19 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $4.2M | 60,666 | 0.5% | 6 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $4.1M | 79,505 | 0.5% | 19 |
| DIMENSIONAL ETF TRUST | [DCOR](https://holderbook.com/stocks/DCOR/) | $3.9M | 47,278 | 0.5% | 5 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $3.5M | 89,295 | 0.4% | 14 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $3.4M | 8,923 | 0.4% | 5 |
| DIMENSIONAL ETF TRUST | [DFSU](https://holderbook.com/stocks/DFSU/) | $3.1M | 67,495 | 0.4% | 7 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.1M | 13,140 | 0.4% | 19 |
| DIMENSIONAL ETF TRUST | [DFGR](https://holderbook.com/stocks/DFGR/) | $3.1M | 107,587 | 0.4% | 14 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.1M | 8,319 | 0.4% | 19 |
| VANGUARD WELLINGTON FD | [VTES](https://holderbook.com/stocks/VTES/) | $3.1M | 30,543 | 0.4% | 10 |
| DIMENSIONAL ETF TRUST | [DISV](https://holderbook.com/stocks/DISV/) | $3.1M | 76,398 | 0.4% | 11 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $3.1M | 53,573 | 0.4% | 19 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $2.7M | 3,967 | 0.3% | 5 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.7M | 7,591 | 0.3% | 19 |
| VANGUARD CALIF TAX FREE FDS | [VTEC](https://holderbook.com/stocks/VTEC/) | $2.7M | 26,470 | 0.3% | 8 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.6M | 6,287 | 0.3% | 19 |
| CONNECTONE BANCORP INC | [CNOB](https://holderbook.com/stocks/CNOB/) | $2.6M | 77,504 | 0.3% | 5 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $2.6M | 62,583 | 0.3% | 19 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.5M | 6,995 | 0.3% | 19 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $2.4M | 11,028 | 0.3% | 5 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.4M | 3,223 | 0.3% | 13 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.4M | 1,977 | 0.3% | 15 |
| ISHARES TR | [IEUR](https://holderbook.com/stocks/IEUR/) | $2.2M | 28,911 | 0.3% | 19 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $2.0M | 14,349 | 0.2% | 19 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.9M | 2,498 | 0.2% | 19 |
| VANGUARD MUN BD FDS | [VCRM](https://holderbook.com/stocks/VCRM/) | $1.8M | 23,346 | 0.2% | 6 |
| VANGUARD MALVERN FDS | [VPLS](https://holderbook.com/stocks/VPLS/) | $1.8M | 22,661 | 0.2% | 9 |
| AMERICAN CENTY ETF TR | [AVSU](https://holderbook.com/stocks/AVSU/) | $1.7M | 19,135 | 0.2% | 9 |
| VANGUARD MUN BD FDS | [VSDM](https://holderbook.com/stocks/VSDM/) | $1.6M | 21,387 | 0.2% | 5 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.6M | 3,235 | 0.2% | 19 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $1.6M | 1,496 | 0.2% | 19 |
| CAPITAL GRP FIXED INCM ETF T | [CGMU](https://holderbook.com/stocks/CGMU/) | $1.6M | 57,966 | 0.2% | 11 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $1.6M | 6,360 | 0.2% | 4 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $1.5M | 15,157 | 0.2% | 17 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.4M | 2,456 | 0.2% | 14 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.4M | 1,444 | 0.2% | 19 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.3M | 3,797 | 0.2% | 19 |
| DIMENSIONAL ETF TRUST | [DFSE](https://holderbook.com/stocks/DFSE/) | $1.2M | 25,287 | 0.1% | 7 |
| AMERICAN CENTY ETF TR | [AVSD](https://holderbook.com/stocks/AVSD/) | $1.2M | 15,190 | 0.1% | 5 |
| CAPITAL GRP FIXED INCM ETF T | [CGSM](https://holderbook.com/stocks/CGSM/) | $1.2M | 44,124 | 0.1% | 9 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $1.2M | 16,179 | 0.1% | 19 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $1.0M | 35,105 | 0.1% | 19 |
| DIMENSIONAL ETF TRUST | [DFCA](https://holderbook.com/stocks/DFCA/) | $995.6K | 19,841 | 0.1% | 11 |
| AMERICAN CENTY ETF TR | [AVSE](https://holderbook.com/stocks/AVSE/) | $927.6K | 11,335 | 0.1% | 9 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $893.5K | 3,518 | 0.1% | 16 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $888.2K | 2,713 | 0.1% | 15 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $875.4K | 10,239 | 0.1% | 4 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $873.7K | 7,036 | 0.1% | 12 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $842.0K | 3,612 | 0.1% | 19 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $835.1K | 2,225 | 0.1% | 19 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $720.6K | 9,345 | 0.1% | 5 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $719.3K | 6,123 | 0.1% | 8 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $706.7K | 2,004 | 0.1% | 19 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $686.3K | 4,211 | 0.1% | 19 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $679.1K | 2,801 | 0.1% | 12 |
| VANGUARD INSTL INDEX FD | [VGUS](https://holderbook.com/stocks/VGUS/) | $676.8K | 8,945 | 0.1% | 5 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $673.6K | 4,596 | 0.1% | 15 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $655.0K | 4,264 | 0.1% | 2 |
| CAPITAL GROUP INTERNATIONAL | [CGIC](https://holderbook.com/stocks/CGIC/) | $634.3K | 17,431 | 0.1% | 2 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $628.2K | 7,601 | 0.1% | 10 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $616.9K | 2,755 | 0.1% | 19 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $572.8K | 986 | 0.1% | 1 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $566.4K | 1,531 | 0.1% | 19 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $552.8K | 7,530 | 0.1% | 19 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $551.1K | 9,232 | 0.1% | 5 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $549.6K | 1,471 | 0.1% | 8 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $548.8K | 759 | 0.1% | 4 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $545.8K | 1,734 | 0.1% | 19 |
| DIMENSIONAL ETF TRUST | [DFSI](https://holderbook.com/stocks/DFSI/) | $532.9K | 11,816 | 0.1% | 7 |
| DIMENSIONAL ETF TRUST | [DFNM](https://holderbook.com/stocks/DFNM/) | $508.7K | 10,525 | 0.1% | 12 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $500.6K | 3,189 | 0.1% | 11 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $497.1K | 3,636 | 0.1% | 19 |
| VANGUARD ADMIRAL FDS INC | [VOOG](https://holderbook.com/stocks/VOOG/) | $486.7K | 5,891 | 0.1% | 4 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $461.6K | 15,684 | 0.1% | 6 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $460.8K | 392 | 0.1% | 4 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $445.0K | 3,035 | 0.1% | 15 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.5% | +14.8% | -5.3% | 100% |
| Q1 2026 | +1.0% | -4.6% | +5.7% | 100% |
| Q4 2025 | +2.3% | +2.4% | -0.1% | 100% |
| Q3 2025 | +7.3% | +7.8% | -0.5% | 100% |
| Q2 2025 | +7.8% | +10.5% | -2.7% | 100% |
| Q1 2025 | -0.5% | -4.6% | +4.0% | 100% |
| Q4 2024 | -2.0% | +2.1% | -4.1% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $851.5M | 136 |
| Q1 2026 | $735.5M | 134 |
| Q4 2025 | $710.5M | 128 |
| Q3 2025 | $662.4M | 130 |
| Q2 2025 | $576.7M | 123 |
| Q1 2025 | $491.8M | 104 |
| Q4 2024 | $476.2M | 98 |
| Q3 2024 | $466.2M | 93 |
| Q2 2024 | $433.8M | 92 |
| Q1 2024 | $415.7M | 89 |
| Q4 2023 | $374.4M | 81 |
| Q3 2023 | $324.1M | 71 |