HF
Highland Financial Advisors, LLC — 13F Filing & Top Stock Positions (Q3 2026)
Highland Financial Advisors, LLCCIK: 0001939237
Diversified strategyMomentum followerLong-term holder
Total reported value
$469.4M
Reporting period: 2026-09-30 · Number of holdings: 82
Highland Financial Advisors, LLC disclosed 82 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $469.4M and a quarterly turnover rate of 5.5%.
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Personality snowflake
- Concentration
- 23.99
- Portfolio Stability
- 5.47
- Momentum
- 100
- Sector conviction
- 51.9
- Diversification
- 100
- Sizing Uniformity
- 80.08
Highland Financial Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.060 — mathematically equivalent to about 17 equally-sized positions, well below its 82 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.99), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 4% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim QQQM
-2.5% -$900.6K
Trim AVUV
+0.1% -$1.4M
Trim AVUS
-1.4% -$571.0K
Trim DFAU
-1.6% -$139.6K
Trim SPYM
-1.9% $113.0K
Add AVDE
+5.8% $2.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 9.92% | -0.30% | -1.86% | |
| 2 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 9.45% | -0.50% | -2.53% | |
| 3 | AVUS | Avantis U.s. Equity ETF | ETF-Other | 8.92% | -0.42% | -1.35% | |
| 4 | DFAU | Dimensional US Core Equity M | ETF-Other | 8.72% | -0.31% | -1.62% | |
| 5 | VONG | Vanguard Russell 1000 Growth | ETF-Other | 8.61% | +0.19% | +4.62% | |
| 6 | AVDE | Avantis International Equity | ETF-Other | 8.23% | +0.28% | +5.82% | |
| 7 | AVIG | Avantis Core Fixed Income | ETF-Other | 5.17% | -0.25% | +3.60% | |
| 8 | AVUV | Avantis US Small Cap Value | ETF-Small Cap | 5.01% | -0.46% | +0.10% | |
| 9 | AVSU | Avantis Resp US Equity ETF | ETF-Other | 3.42% | +0.01% | +4.26% | |
| 10 | IWF | Ishares Russell 1000 Growth | ETF-Other | 2.78% | -0.07% | -0.39% | |
| 11 | AVDV | Avantis Intl S/c Value ETF | ETF-Other | 2.72% | +0.27% | +7.78% | |
| 12 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 2.58% | +0.07% | +6.23% | |
| 13 | AVEM | Avantis Emerging Markets Eq | ETF-Emerging Markets | 2.40% | -0.06% | +3.68% | |
| 14 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 2.24% | +0.05% | +4.38% | |
| 15 | XCEM | Columbia Em Core Ex-china | ETF-Emerging Markets | 2.16% | -0.06% | +3.45% | |
| 16 | IAU | Ishares Gold Trust | ETF-Commodities | 2.12% | +0.07% | +3.09% | |
| 17 | AVSD | Avantis Reps Intern Equi ETF | ETF-Other | 1.60% | +0.19% | +17.18% | |
| 18 | USXF | Ishares Esg Advance Msci USA | ETF-Other | 1.31% | +0.13% | +16.91% | |
| 19 | SMIN | Ishares Msci India Small-cap | ETF-Other | 0.95% | +0.07% | +15.13% | |
| 20 | GINN | Goldman Sachs Innovate Eqty | ETF-Commodities | 0.76% | -0.04% | -4.77% | |
| 21 | SCHG | Schwab US Large-cap Growth | ETF-Other | 0.74% | +0.02% | +0.02% | |
| 22 | XJR | Ishr Esg Ss S&p Smal-cap-usd | ETF-Other | 0.70% | +0.03% | +18.51% | |
| 23 | AVSE | Avantis Resp Emerg Mkts Eq-e | ETF-Other | 0.60% | +0.04% | +14.59% | |
| 24 | AAPL | Apple Inc | Stock-Tech | 0.57% | +0.08% | +5.21% | |
| 25 | MEAR | Ishrs Short Mat Muni Act ETF | ETF-Other | 0.45% | -0.01% | +3.10% | |
| 26 | PM | Philip Morris International | Stock-Consumer Staples | 0.45% | +0.02% | +2.78% | |
| 27 | VGT | Vanguard Info Tech ETF | ETF-Tech | 0.42% | +0.09% | +23.99% | |
| 28 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.41% | -0.02% | -1.78% | |
| 29 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.38% | +0.05% | +13.57% | |
| 30 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.36% | +0.01% | +5.32% | |
| 31 | FBTC | Fidelity Wise Origin Bitcoin | ETF-Crypto | 0.36% | +0.11% | +5.32% | |
| 32 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.30% | -0.02% | +0.05% | |
| 33 | MSFT | Microsoft CORP | Stock-Tech | 0.28% | +0.13% | +41.74% | |
| 34 | DFAE | Dimensional Emerging Core Eq | ETF-Emerging Markets | 0.26% | -0.03% | -6.59% | |
| 35 | NVDA | Nvidia CORP | Stock-Tech | 0.23% | +0.11% | +75.33% | |
| 36 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.23% | +0.11% | +83.43% | |
| 37 | XOM | Exxon Mobil CORP | Stock-Energy | 0.21% | +0.03% | — | |
| 38 | MO | Altria Group Inc | Stock-Consumer Staples | 0.21% | -0.02% | — | |
| 39 | SLYV | Ss Spdr S&p 600 Sc Val ETF | ETF-Other | 0.20% | -0.09% | -24.81% | |
| 40 | XVV | Ishares Esg Select Screened | ETF-Other | 0.18% | — | -0.46% | |
| 41 | VONE | Vanguard Russell 1000 | ETF-Other | 0.15% | — | — | |
| 42 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.15% | +0.04% | +8.63% | |
| 43 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.14% | — | — | |
| 44 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.14% | +0.03% | +35.44% | |
| 45 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.14% | +0.04% | +68.13% | |
| 46 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.13% | +0.01% | +20.78% | |
| 47 | VTV | Vanguard Value ETF | ETF-Other | 0.13% | — | — | |
| 48 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.12% | — | +3.84% | |
| 49 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 0.12% | — | — | |
| 50 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.12% | -0.03% | -15.19% |
1–50 of 82
Portfolio Performance
Performance for Q4 2026
+1.4%
Performance Last 4 Quarters
+11.8%
- Stdev
- +11.1%
- Beta
- +0.88
- Alpha
- +0.2%
- Max Drawdown
- -5.7%
- Annualized Perf
- +21.1%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +4.17
- Stutzer
- +0.53
- Treynor
- +0.22
- Sterling
- +1.43
- Calmar
- +3.71
- Information Ratio
- -0.81
- Tracking Error
- +3%
- Stdev Down
- +4.8%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +30.9%
- Worst 12 Months
- +6.4%
- Efficiency Ratio
- +0.76
- Sharpe
- +1.78
- Stdev Sectors
- +7.7%
- Skewness
- +0.14
- Kurtosis
- -0.02
- Upside Potential
- +5.68
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 82 | $469.4M | 5 | ||
| 2026 Q2 | 73 | $454.6M | 27 | ||
| 2026 Q1 | 67 | $378.7M | 8 | ||
| 2025 Q4 | 66 | $360.7M | 4 | ||
| 2025 Q3 | 58 | $348.8M | 22 | ||
| 2025 Q2 | 54 | $311.5M | 0 | ||
| 2025 Q1 | 53 | $279.6M | 0 | ||
| 2024 Q4 | 57 | $288.7M | 0 | ||
| 2024 Q3 | 52 | $281.4M | 0 | ||
| 2024 Q2 | 54 | $268.9M | 0 | ||
| 2024 Q1 | 54 | $249.9M | 0 | ||
| 2023 Q4 | 54 | $230.0M | 0 | ||
| 2023 Q3 | 44 | $193.1M | 0 | ||
| 2023 Q2 | 44 | $194.0M | 0 | ||
| 2023 Q1 | 44 | $184.2M | 0 | ||
| 2022 Q4 | 45 | $169.8M | 0 | ||
| 2022 Q3 | 55 | $144.1M | 0 | ||
| 2022 Q2 | 48 | $145.9M | 0 |
Holding changes this quarter
Highland Financial Advisors, LLC's most significant position changes for 2026-09-30: Sold out: Dimensional World Eqty ETF (DFAW); New buy: Uber Technologies Inc (UBER); New buy: Intercontinental Exchange In (ICE); New buy: Citigroup Inc (C); New buy: Merck & Co. Inc. (MRK).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AVDE | Avantis International Equity | +0.3% | +5.82% | Add |
| 2 | AVDV | Avantis Intl S/c Value ETF | +0.3% | +7.78% | Add |
| 3 | VONG | Vanguard Russell 1000 Growth | +0.2% | +4.62% | Add |
| 4 | AVSD | Avantis Reps Intern Equi ETF | +0.2% | +17.18% | Add |
| 5 | USXF | Ishares Esg Advance Msci USA | +0.1% | +16.91% | Add |
| 6 | MSFT | Microsoft CORP | +0.1% | +41.74% | Add |
| 7 | FBTC | Fidelity Wise Origin Bitcoin | +0.1% | +5.32% | Add |
| 8 | NVDA | Nvidia CORP | +0.1% | +75.33% | Add |
| 9 | UBER | Uber Technologies Inc | +0.1% | NEW | New buy |
| 10 | ICE | Intercontinental Exchange In | +0.1% | NEW | New buy |
| 11 | VOO | Vanguard S&p 500 ETF | +0.1% | +83.43% | Add |
| 12 | C | Citigroup Inc | +0.1% | NEW | New buy |
| 13 | VGT | Vanguard Info Tech ETF | +0.1% | +23.99% | Add |
| 14 | AAPL | Apple Inc | +0.1% | +5.21% | Add |
| 15 | SGOV | Ishares 0-3 Month Treasury B | +0.1% | +6.23% | Add |
| 16 | IAU | Ishares Gold Trust | +0.1% | +3.09% | Add |
| 17 | SMIN | Ishares Msci India Small-cap | +0.1% | +15.13% | Add |
| 18 | VTI | Vanguard Total Stock Mkt ETF | +0.1% | +4.38% | Add |
| 19 | AMZN | Amazon.com Inc | +0.1% | +13.57% | Add |
| 20 | MRK | Merck & Co. Inc. | +0.1% | NEW | New buy |
| 21 | VUG | Vanguard Growth ETF | +0.1% | NEW | New buy |
| 22 | VIG | Vanguard Dividend Apprec ETF | +0.1% | NEW | New buy |
| 23 | REGN | Regeneron Pharmaceuticals | +0.1% | NEW | New buy |
| 24 | LLY | Eli Lilly & Co | +0.1% | NEW | New buy |
| 25 | ACGL | Arch Capital Group Ltd. | +0.1% | NEW | New buy |
| 26 | AVSE | Avantis Resp Emerg Mkts Eq-e | 0% | +14.59% | Add |
| 27 | META | Meta Platforms Inc-class A | 0% | +8.63% | Add |
| 28 | TSLA | Tesla Inc | 0% | +68.13% | Add |
| 29 | XJR | Ishr Esg Ss S&p Smal-cap-usd | 0% | +18.51% | Add |
| 30 | XOM | Exxon Mobil CORP | 0% | — | Unchanged |
| 31 | GOOG | Alphabet Inc-cl C | 0% | +35.44% | Add |
| 32 | GLD | Spdr Gold Shares | 0% | +36.41% | Add |
| 33 | SCHG | Schwab US Large-cap Growth | 0% | +0.02% | Add |
| 34 | PM | Philip Morris International | 0% | +2.78% | Add |
| 35 | V | Visa Inc-class A Shares | 0% | +22.92% | Add |
| 36 | AVSU | Avantis Resp US Equity ETF | 0% | +4.26% | Add |
| 37 | JPM | Jpmorgan Chase & Co | 0% | +5.32% | Add |
| 38 | GOOGL | Alphabet Inc-cl A | 0% | +20.78% | Add |
| 39 | AMD | Advanced Micro Devices | 0% | +7.55% | Add |
| 40 | COPR | Idaho Copper CORP | 0% | NEW | New buy |
| 41 | JNJ | Johnson & Johnson | — | +6.60% | Add |
| 42 | IEMG | Ishares Core Msci Emerging | — | +15.60% | Add |
| 43 | BRK-B | Berkshire Hathaway Inc-cl B | — | +3.84% | Add |
| 44 | XVV | Ishares Esg Select Screened | — | -0.46% | Trim |
| 45 | IVV | Ishares Core S&p 500 ETF | — | — | Unchanged |
| 46 | EAGG | Ishares Esg Aware US Aggrega | — | +8.30% | Add |
| 47 | VONE | Vanguard Russell 1000 | — | — | Unchanged |
| 48 | WMT | Walmart Inc | — | +12.22% | Add |
| 49 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | -3.66% | Trim |
| 50 | VTV | Vanguard Value ETF | — | — | Unchanged |
1–50 of 83
Filing History
FAQ
What is Highland Financial Advisors, LLC and what type of investor is it?
Highland Financial Advisors, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $469.4M, spread across 82 disclosed positions.
What are Highland Financial Advisors, LLC's largest equity positions?
Based on the latest 13F filing, Highland Financial Advisors, LLC's top holdings by market value are:
1. Ste Str Spdr Pt S&p 500 ETF (SPYM) — $46.6M (9.9%)
2. Invesco Nasdaq 100 ETF (QQQM) — $44.3M (9.4%)
3. Avantis U.s. Equity ETF (AVUS) — $41.9M (8.9%)
4. Dimensional US Core Equity M (DFAU) — $40.9M (8.7%)
5. Vanguard Russell 1000 Growth (VONG) — $40.4M (8.6%)
What changes did Highland Financial Advisors, LLC make in its most recent portfolio filing?
In the latest reported quarter, Highland Financial Advisors, LLC made 65 notable position adjustments: 10 new positions were initiated, 42 existing holdings were added to, 12 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Dimensional World Eqty ETF (DFAW); New buy: Uber Technologies Inc (UBER); New buy: Intercontinental Exchange In (ICE); New buy: Citigroup Inc (C); New buy: Merck & Co. Inc. (MRK)
What sectors does Highland Financial Advisors, LLC focus on?
Highland Financial Advisors, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 28.2%
• Financials: 18.0%
• Consumer Staples: 16.8%
• Consumer Discretionary: 12.3%
• Communication Services: 9.8%
• Health Care: 7.4%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Highland Financial Advisors, LLC returned an annualized 21.1% over the trailing 36 months — outperforming the S&P 500 by 0.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.88 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its turnover score has fallen from 22 to 5 over the past 4 quarters — a shift toward longer holding periods.
It has added to its AVDE position over the past two quarters (+$17.9M, now $38.6M), while trimming GINN over the same stretch (-$13.5M, still holding $3.6M).
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