Zhang Financial LLC
Long book
$2.89B
Q1 2026
Positions
367
Top-10 weight
49%
concentration
Last quarter
+11.6%
SPY +14.8%
Turnover
16%
of book per quarter
Strategy in plain words
auto-generated from filingsZhang Financial LLC is a wealth-management firm allocating client money, running a $2.89B US long book across 367 positions.
The portfolio is moderately concentrated (top 10 ≈ 49% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: VANGUARD S&P 500 ETF, VANGUARD TOTAL STOCK MKT ETF, DIMENSIONAL US EQ MKT ETF, ISHARES CORE S&P TOTAL U.S., VANGUARD TOTAL INTL STOCK.
Over the last 9 quarters its long book ran on average 0.4pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.2%
Q2 2024
+6.7%
Q3 2024
+0.6%
Q4 2024
-2.2%
Q1 2025
+9.3%
Q2 2025
+7.4%
Q3 2025
+2.9%
Q4 2025
-1.9%
Q1 2026
+11.6%
Sector allocation
Technology 42%
Healthcare 15%
Financials 13%
Consumer discretionary 10%
Industrials 8%
Other 3%
Energy 2%
Consumer staples 2%
Long book by quarter
What does Zhang Financial own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 226.1K | $57.4M | 2.0% | +4.3% |
| SYK STRYKER CORP | Healthcare | 103.8K | $34.1M | 1.2% | -5.9% |
| MSFT MICROSOFT CORP | Technology | 73.4K | $27.2M | 0.9% | +8.1% |
| NVDA NVIDIA CORP | Technology | 150.7K | $26.3M | 0.9% | +3.7% |
| GOOGL ALPHABET INC-CL A | Technology | 61.6K | $17.7M | 0.6% | +3.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 80.3K | $16.7M | 0.6% | +13.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 27.0K | $12.9M | 0.4% | +3.9% |
| META META PLATFORMS INC-CLASS A | Technology | 20.3K | $11.6M | 0.4% | +17.2% |
| MU MICRON TECHNOLOGY INC | Technology | 31.1K | $10.5M | 0.4% | -8.3% |
| AVGO BROADCOM INC | Technology | 33.4K | $10.3M | 0.4% | +41.4% |
| CAT CATERPILLAR INC | Industrials | 11.3K | $8.0M | 0.3% | +8.2% |
| JPM JPMORGAN CHASE & CO | Financials | 27.2K | $8.0M | 0.3% | +28.4% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 33.5K | $7.8M | 0.3% | Held |
| AMGN AMGEN INC | Healthcare | 21.1K | $7.4M | 0.3% | +9.6% |
| ABBV ABBVIE INC | Healthcare | 33.9K | $7.4M | 0.3% | +16.0% |
| KLAC KLA CORP | Other | 4.3K | $6.3M | 0.2% | -2.0% |
| GS GOLDMAN SACHS GROUP INC | Financials | 7.3K | $6.2M | 0.2% | +23.9% |
| XOM EXXON MOBIL CORP | Energy | 36.4K | $6.2M | 0.2% | +2.2% |
| CSCO CISCO SYSTEMS INC | Technology | 77.3K | $6.0M | 0.2% | +6.5% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 8 | $5.7M | 0.2% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 23.3K | $5.7M | 0.2% | +14.6% |
| AXP AMERICAN EXPRESS CO | Financials | 16.6K | $5.0M | 0.2% | New |
| WMT WALMART INC | Consumer discretionary | 38.3K | $4.8M | 0.2% | +4.3% |
| GOOG ALPHABET INC-CL C | Technology | 16.2K | $4.7M | 0.2% | +4.9% |
| TSLA TESLA INC | Industrials | 12.4K | $4.6M | 0.2% | +2.0% |
| JNJ JOHNSON & JOHNSON | Healthcare | 18.3K | $4.5M | 0.2% | +35.3% |
| MDT MEDTRONIC PLC | Healthcare | 44.7K | $3.9M | 0.1% | +26.3% |
| PG PROCTER & GAMBLE CO/THE | Other | 26.6K | $3.8M | 0.1% | -2.7% |
| AIT APPLIED INDUSTRIAL TECH INC | Consumer discretionary | 12.8K | $3.4M | 0.1% | Held |
| PEP PEPSICO INC | Consumer staples | 20.5K | $3.2M | 0.1% | +2.7% |
| LLY ELI LILLY & CO | Healthcare | 3.3K | $3.0M | 0.1% | +24.2% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 13.4K | $3.0M | 0.1% | +7.3% |
| AMP AMERIPRISE FINANCIAL INC | Financials | 6.7K | $3.0M | 0.1% | +22.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 6, 2026 | 367 | $2.89B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 339 | $2.68B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 316 | $2.46B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 1, 2025 | 291 | $2.17B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 15, 2025 | 301 | $1.89B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 295 | $1.75B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 15, 2024 | 276 | $1.58B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 19, 2024 | 267 | $1.43B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 24, 2024 | 266 | $1.35B | canonical | SEC ↗ |