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Livermore
Livermore
ZHEN

Marshall Financial Group Inc

SEC CIK
0000701189
Latest filing
Nov 4, 2025

The latest 13F from Marshall Financial Group Inc covers Q3 2025 (filed Nov 4, 2025): 53 long positions worth $363.5M. The top 10 holdings make up 68.7% of the portfolio, and the largest is Schwab U.S. Large-Cap ETF at 9.4%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2025

Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$660.5K
Added
27
Est. +$9.70M
Reduced
19
Est. −$2.72M
Sold out
2
Est. −$433.6K

Top 5 holdings

Share of this quarter's portfolio value

  1. Schwab U.S. Large-Cap ETF808524201
    9.4%$34.2M
  2. Schwab U.S. Large-Cap Growth ETF808524300
    9.3%$33.8M
  3. Schwab U.S. Large-Cap Value ETF808524409
    8.7%$31.5M
  4. Vanguard S&P 500 ETF922908363
    7.7%$28.2M
  5. Schwab US Tips ETF808524870
    6.8%$24.9M

Share of portfolio

Top 5 holdings and the other 48 positions, by share of portfolio value

  1. Schwab U.S. Large-Cap ETF9.4%
  2. Schwab U.S. Large-Cap Growth ETF9.3%
  3. Schwab U.S. Large-Cap Value ETF8.7%
  4. Vanguard S&P 500 ETF7.7%
  5. Schwab US Tips ETF6.8%
  6. Other 48 positions58.0%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard S&P 500 ETF922908363
    +$2.83MAdded
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$1.82MAdded
  3. Schwab U.S. Large-Cap ETF808524201
    +$1.24MAdded
  4. Schwab US Tips ETF808524870
    +$951.8KAdded
  5. Schwab U.S. Large-Cap Value ETF808524409
    +$903.7KAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Vanguard S&P 500 ETF922908363
    +0.71 pp7.0% → 7.7%
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +0.40 pp1.5% → 1.9%
  3. Schwab U.S. Large-Cap ETF808524201
    +0.25 pp9.2% → 9.4%
  4. Schwab US Aggregate Bond ETF808524839
    +0.06 pp1.3% → 1.4%
  5. AVGOBroadcom Inc.
    +0.06 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab U.S. Large-Cap Growth ETF808524300
    −$1.22MReduced
  2. Schwab U.S. Mid-Cap ETF808524508
    −$405.1KReduced
  3. ADPAutomatic Data Processing Inc
    −$227.6KSold outHistory
  4. Schwab U.S. Small-Cap ETF808524607
    −$222.7KReduced
  5. SPDR Series Trust78464A607
    −$206.0KSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Schwab U.S. Large-Cap Growth ETF808524300
    −0.30 pp9.6% → 9.3%
  2. Schwab U.S. Mid-Cap ETF808524508
    −0.26 pp5.2% → 5.0%
  3. Schwab International Equity ETF808524805
    −0.14 pp4.2% → 4.1%
  4. Vanguard Ftse Developed Markets ETF921943858
    −0.14 pp3.0% → 2.9%
  5. ADPAutomatic Data Processing Inc
    −0.07 pp0.1% → 0.0%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$363.5M
+$29.5M (+8.8%) vs. prior quarter
Positions
53
+1 vs. prior quarter
Top 10 concentration
68.7%
Top 10 as share of value
Turnover
0.9%
Q3 2025, one quarter
Average holding period
18.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $363.5M (Q3 2025)

Q1 2021: $220.3MQ2 2021: $235.0MQ3 2021: $237.6MQ4 2021: $258.1MQ1 2022: $250.8MQ2 2022: $220.1MQ3 2022: $211.6MQ4 2022: $232.8MQ1 2023: $246.0MQ2 2023: $260.9MQ3 2023: $245.5MQ4 2023: $280.1MQ1 2024: $303.3MQ2 2024: $308.1MQ3 2024: $331.1MQ4 2024: $327.3MQ1 2025: $317.9MQ2 2025: $334.0MQ3 2025: $363.5M
Q1 2021Q3 2025
13F filings of Marshall Financial Group Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 4, 202553$363.5MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q2 2025SEC
Q2 2025Aug 5, 202552$334.0MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q1 2025SEC
Q1 2025May 1, 202554$317.9MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q4 2024SEC
Q4 2024Jan 24, 202552$327.3MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q3 2024SEC
Q3 2024Nov 4, 202453$331.1MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q2 2024SEC
Q2 2024Aug 9, 202454$308.1MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q1 2024SEC
Q1 2024May 9, 202455$303.3MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q4 2023SEC
Q4 2023Feb 8, 202453$280.1MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q3 2023SEC
Q3 2023Nov 3, 202348$245.5MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q2 2023SEC
Q2 2023Aug 10, 202350$260.9MSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFvs. Q1 2023SEC
Q1 2023May 3, 202351$246.0MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q4 2022SEC
Q4 2022Feb 6, 202351$232.8MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFSchwab U.S. Large-Cap Growth ETFvs. Q3 2022SEC
Q3 2022Nov 14, 202253$211.6MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFSchwab US Tips ETFvs. Q2 2022SEC
Q2 2022Aug 10, 202254$220.1MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Value ETFSchwab U.S. Large-Cap Growth ETFvs. Q1 2022SEC
Q1 2022May 10, 202257$250.8MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q4 2021SEC
Q4 2021Feb 8, 202259$258.1MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q3 2021SEC
Q3 2021Nov 15, 202160$237.6MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q2 2021SEC
Q2 2021Jul 29, 202158$235.0MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETFvs. Q1 2021SEC
Q1 2021May 10, 202156$220.3MSchwab U.S. Large-Cap ETFSchwab U.S. Large-Cap Growth ETFSchwab U.S. Large-Cap Value ETF–SEC