How an ETF-First Advisory Firm Overlays Growth: Rehmann’s $1.78T Q4 Filing

Most 13F analysis focuses on hedge funds. Rehmann Capital Advisory Group’s Q4 2025 filing shows the other side — and it’s arguably more instructive. The Core: Asset Allocation ETFs Position Ticker Role Weight iShares S&P 500 Value IVE Value factor 8.2% iShares S&P 500 Growth IVW Growth factor 5.8% iShares Core MSCI EAFE IEFA International 5.2% Vanguard S&P 500 VOO U.S. beta 4.5% Fidelity Total Bond FBND Fixed income 4.0% Top-5 at 27.7% across 300 positions. Advisory model portfolio. The Growth Overlay Change Detail Netflix +810% by share count XLK (Tech ETF) +104% QQQ New position at $14.35B IWR (Mid-cap) +179% The Funding Source Trimmed: MUNI, AGG, JAAA (bonds). Classic risk-budget trade. The Netflix Signal Netflix +810% makes Rehmann the sixth mega-filer to build a massive NFLX position in Q4 2025. Originally published at 13finsight.com