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Acropolis Investment Management, LLC — 13F Holdings & Portfolio

CIK 1318601 · latest 13F-HR filed 2026-10-08

Backtest portfolio

Acropolis Investment Management, LLC manages $2.49B in 13F-reported U.S. long-equity assets across 379 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are VOO (15.91%), DFCF (6.97%), VEA (6.28%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 20 new positions and exited 25; 74 existing positions rose in reported value and 139 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$2.49B

Long-equity book

Holdings
379

Distinct positions

Period
2026-09-30

Filed 2026-10-08

Q/Q Activity
+20 / −25 / ↑74 / ↓139

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
VOO15.9% · -1%DFCF7.0% · +6%VEA6.3% · -20%VGIT6.0% · -4%IJR5.3% · -2%IJH5.0% · -1%IGIB4.4% · -3%JMTG4.3% · +7%SMLF3.3% · -0%VV2.3% · -3%VWO1.8% · -26%MTUM1.8% · +1%IDEV1.7% · +4410%IEFA1.6% · -3%BND1.5% · -17%DFLV1.5% · -0%IMTM1.4% · +1%AAPL1.2% · +6%DFIV1.1% · -0%IEMG1.1% · +124%LRGF1.1% · +0%IEI0.9% · +377%VCRB0.9% · +1%AVUS0.9% · +0%IVW0.8% · -0%IVV0.8% · -1%MSFT0.8% · -0%VB0.7% · -0%VMBS0.7% · -10%INTF0.6% · -2%VO0.6% · +1%VGSH0.6% · -33%IVE0.5% · -1%NVDA0.5% · +3%GOOGL0.4% · -0%VCIT0.4% · +77%WMT0.4% · -2%VUG0.4% · -9%PG0.4% · -1%AMZN0.3% · +1%SPY0.3% · 0%JPM0.3% · -2%SCHF0.3% · -0%BRK.B0.3% · -9%VTV0.2% · +3%IEF0.2% · -2%IWR0.2% · -1%JNJ0.2% · -2%SXT0.2% · 0%XLK0.2% · -0%IWM0.2% · -2%V0.2% · -1%IYW0.2% · -5%VTI0.2% · +1%MU0.2% · +12%IWD0.2% · 0%VBK0.2% · +5%XOM0.2% · -1%MUB0.2% · -45%EFA0.2% · -1%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 59.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 26, 2026.

Assets Under Management
$2.61B
Discretionary
$2.61B
Employees
44
Accounts
3,984
Address
14567 NORTH OUTER FORTY ROAD
SUITE 200
CHESTERFIELD, MO 63017
Phone
(888) 882-0072
Website
Name Title / Status Ownership Type
FLEMING, ROBERT, STANLEY ControlCHIEF COMPLIANCE OFFICER
since Jul 2022
Less than 5%Individual
LISSNER, CHRISTOPHER, BART ControlMANAGING MEMBER & PRESIDENT
since Aug 2002
25–50%Individual
LISSNER, MICHAEL, TIMOTHY ControlMEMBER
since Jan 2003
10–25%Individual
OTT, DAVID, BAKER ControlMEMBER & CHIEF INVESTMENT OFFICER
since Aug 2002
25–50%Individual
REYNOLDS, CLIFF, J. ControlMEMBER
since Jan 2023
5–10%Individual
TUSTIN, MARIE, L ControlMEMBER
since Jan 2023
5–10%Individual
WARD, DANNELLE, DYAN ControlMEMBER
since Aug 2002
10–25%Individual
Ownership & leadership changes · 3 filings with changes since Mar 2, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 30, 2023 filing
  • AddedREYNOLDS, CLIFF, J. · MEMBER · 5–10% · control person
  • AddedTUSTIN, MARIE, L · MEMBER · 5–10% · control person
Jul 21, 2022 filing
  • AddedFLEMING, ROBERT, STANLEY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedWARD, DANNELLE, DYAN · title MEMBER & CHIEF COMPLIANCE OFFICER → MEMBER
Mar 10, 2014 filing
  • ChangedLISSNER, CHRISTOPHER, BART · title MANAGING MEMBER → MANAGING MEMBER & PRESIDENT
  • ChangedOTT, DAVID, BAKER · title MEMBER → MEMBER & CHIEF INVESTMENT OFFICER
Mar 2, 2012 filing (earliest on record)
  • ListedLISSNER, CHRISTOPHER, BART · MANAGING MEMBER · 25–50% · control person
  • ListedLISSNER, MICHAEL, TIMOTHY · MEMBER · 10–25% · control person
  • ListedOTT, DAVID, BAKER · MEMBER · 25–50% · control person
  • ListedWARD, DANNELLE, DYAN · MEMBER & CHIEF COMPLIANCE OFFICER · 10–25% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 74 →

Top Trims

Show all 139 →

New Positions

Show all 20 →

Exited Positions

Show all 25 →

Acropolis Investment Management, LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD INDEX FDS VOO 922908363 $395.8M 15.91% 564,743 SH
2 DIMENSIONAL ETF TRUST DFCF 25434V872 $173.5M 6.97% 4,323,310 SH
3 VANGUARD TAX-MANAGED FDS VEA 921943858 $156.2M 6.28% 2,212,542 SH
4 VANGUARD SCOTTSDALE FDS VGIT 92206C706 $150.4M 6.05% 2,653,970 SH
5 ISHARES TR IJR 464287804 $131.8M 5.30% 968,870 SH
6 ISHARES TR IJH 464287507 $123.4M 4.96% 1,715,181 SH
7 ISHARES TR IGIB 464288638 $110.0M 4.42% 2,184,246 SH
8 J P MORGAN EXCHANGE TRADED F JMTG 46654Q575 $107.3M 4.31% 2,219,217 SH
9 ISHARES TR SMLF 46434V290 $81.9M 3.29% 980,722 SH
10 VANGUARD INDEX FDS VV 922908637 $56.6M 2.28% 160,893 SH
11 VANGUARD INTL EQUITY INDEX F VWO 922042858 $44.7M 1.80% 752,964 SH
12 ISHARES TR MTUM 46432F396 $44.2M 1.78% 139,272 SH
13 ISHARES TR IDEV 46435G326 $41.1M 1.65% 459,425 SH
14 ISHARES TR IEFA 46432F842 $40.4M 1.63% 417,454 SH
15 VANGUARD BD INDEX FDS BND 921937835 $37.0M 1.49% 527,846 SH
16 DIMENSIONAL ETF TRUST DFLV 25434V666 $36.8M 1.48% 916,824 SH
17 ISHARES TR IMTM 46434V449 $34.0M 1.37% 645,542 SH
18 APPLE INC AAPL 037833100 $30.4M 1.22% 91,423 SH
19 DIMENSIONAL ETF TRUST DFIV 25434V807 $28.5M 1.14% 509,494 SH
20 ISHARES INC IEMG 46434G103 $28.2M 1.13% 347,556 SH
21 ISHARES TR LRGF 46434V282 $28.0M 1.13% 359,850 SH
22 ISHARES TR IEI 464288661 $23.6M 0.95% 208,079 SH
23 VANGUARD MALVERN FDS VCRB 922020748 $22.2M 0.89% 301,122 SH
24 AMERICAN CENTY ETF TR AVUS 025072885 $21.5M 0.87% 168,218 SH
25 ISHARES TR IVW 464287309 $21.1M 0.85% 148,458 SH
26 ISHARES TR IVV 464287200 $20.4M 0.82% 26,598 SH
27 MICROSOFT CORP MSFT 594918104 $19.4M 0.78% 37,814 SH
28 VANGUARD INDEX FDS VB 922908751 $18.4M 0.74% 64,670 SH
29 VANGUARD SCOTTSDALE FDS VMBS 92206C771 $17.2M 0.69% 386,372 SH
30 ISHARES TR INTF 46434V274 $14.6M 0.59% 350,768 SH
31 VANGUARD INDEX FDS VO 922908629 $14.4M 0.58% 183,490 SH
32 VANGUARD SCOTTSDALE FDS VGSH 92206C102 $14.3M 0.58% 248,575 SH
33 ISHARES TR IVE 464287408 $11.8M 0.47% 51,739 SH
34 NVIDIA CORPORATION NVDA 67066G104 $11.5M 0.46% 50,537 SH
35 ALPHABET INC GOOGL 02079K305 $11.0M 0.44% 31,912 SH
36 VANGUARD SCOTTSDALE FDS VCIT 92206C870 $10.9M 0.44% 139,395 SH
37 WALMART INC WMT 931142103 $10.3M 0.41% 99,274 SH
38 VANGUARD INDEX FDS VUG 922908736 $10.1M 0.41% 111,886 SH
39 PROCTER & GAMBLE CO PG 742718109 $9.5M 0.38% 65,437 SH
40 AMAZON COM INC AMZN 023135106 $7.7M 0.31% 30,773 SH
41 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $6.8M 0.27% 8,943 SH
42 JPMORGAN CHASE & CO JPM 46625H100 $6.6M 0.27% 19,959 SH
43 SCHWAB STRATEGIC TR SCHF 808524805 $6.3M 0.25% 229,367 SH
44 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $6.2M 0.25% 12,547 SH
45 VANGUARD INDEX FDS VTV 922908744 $6.2M 0.25% 28,811 SH
46 ISHARES TR IEF 464287440 $6.0M 0.24% 67,080 SH
47 ISHARES TR IWR 464287499 $5.6M 0.23% 52,476 SH
48 JOHNSON & JOHNSON JNJ 478160104 $5.2M 0.21% 19,823 SH
49 SENSIENT TECHNOLOGIES CORP SXT 81725T100 $5.2M 0.21% 39,741 SH
50 SELECT SECTOR SPDR TR XLK 81369Y803 $5.1M 0.21% 26,306 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-08 $2.49B 379 0001104659-26-114569
2026-06-30 2026-07-16 $2.54B 384 0001104659-26-084254
2026-06-30 2026-07-15 $2.25B 382 0001104659-26-083841
2026-03-31 2026-04-09 $2.26B 384 0001104659-26-041279
2025-12-31 2026-01-14 $2.22B 297 0001104659-26-003625
Filer Information
Address
14567 N OUTER FORTY RD
SUITE 200
ST. LOUIS, MO 63017
Phone
(636) 449-4900
Filing Manager
Acropolis Investment Management, LLC
ST. LOUIS, MO
Signatory
Bob Fleming
Compliance Manager