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Valmark Advisers, Inc. — 13F Holdings & Portfolio

CIK 1380443 · latest 13F-HR filed 2026-08-06

Backtest portfolio

Valmark Advisers, Inc. manages $9.42B in 13F-reported U.S. long-equity assets across 728 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VEA (9.17%), SPYG (5.98%), SPYV (5.97%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 66 new positions and exited 15; 426 existing positions rose in reported value and 107 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
$9.42B

Long-equity book

Holdings
728

Distinct positions

Period
2026-06-30

Filed 2026-08-06

Q/Q Activity
+66 / −15 / ↑426 / ↓107

vs 2026-03-31

Portfolio charts

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

Portfolio map

Q2 26
VEA9.2% · -0%SPYG6.0% · -3%SPYV6.0% · +3%SPMD5.1% · -2%VTIP3.9% · +4%VOO3.6% · -1%SPSB3.4% · +18%SPSM3.1% · -6%VWO2.9% · +1%SPTM2.9% · +1%VGIT2.2% · +14%GUNR2.0% · +10%REET2.0% · +3%USIG1.9% · +13%EMXC1.7% · -14%HYLB1.4% · +11%BSV1.4% · +5%EMLC1.4% · +10%SMLF1.2% · -4%LQD1.1% · +3%CGDV0.9% · +3%SCHD0.9% · -1%VMBS0.9% · +12%HYBB0.9% · +16%CGGR0.9% · +6%CGDG0.9% · +3%VGSH0.8% · +7%IVW0.8% · -4%XSOE0.8% · -8%IJH0.7% · -2%GTR0.7% · +3%IVE0.7% · -2%CGUS0.6% · +3%AAPL0.6% · -2%IVV0.6% · +18%CGCB0.6% · +6%CGCP0.5% · +8%VTI0.5% · +1%VEU0.5% · -8%CGMS0.5% · +16%VYM0.5% · +3%BINC0.4% · +31%CGGO0.4% · +13%BNDX0.4% · +8%IJR0.4% · -6%ITOT0.4% · -4%VXF0.4% · +1%VIG0.4% · -1%IUSG0.4% · -4%EFA0.4% · +1%JPST0.4% · -27%BRK.B0.3% · +2%SGOV0.3% · +17%DVY0.3% · -1%IWY0.3% · -17%RDVY0.2% · -8%DWM0.2% · -0%SPDW0.2% · +2%VCSH0.2% · -1%MSFT0.2% · -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

Q1 26 → Q2 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

3 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 = 46.1%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Jun 1, 2026.

Assets Under Management
$10.17B
Discretionary
$10.00B
Employees
280
Accounts
20,881
Address
130 SPRINGSIDE DRIVE
SUITE 300
AKRON, OH 44333
Phone
(800) 765-5201
Website
This firm reports 3 disclosure items on its registration.
Name Title / Status Ownership Type
CALLAHAN, CALEB, JONATHAN ControlEVP, CHIEF OPERATING OFFICER
since Aug 2015
Less than 5%Individual
KOZENKO, ELIZABETH, ERIN ControlVP ACCOUNTING & FINANCE
since Feb 2018
Less than 5%Individual
MCCLARY, MICHAEL, ANDREW ControlCHIEF INVESTMENT OFFICER
since Jan 2010
Less than 5%Individual
RYBKA, LAWRENCE, JOSEPH ControlPRESIDENT, DIRECTOR
since Jun 2000
Less than 5%Individual
VALMARK INVESTMENTS, LLC ControlINTERM. SHAREHOLDER
since Jun 2000
75% or moreDomestic Entity
WILBURN, DOUGLAS, FREDERICK ControlCHIEF COMPLIANCE OFFICER/CHIEF LEGAL OFFICER
since Jul 2015
Less than 5%Individual
EXECUTIVE INSURANCE AGENCY, INC. Control
Indirect owner via VALMARK INVESTMENTS, LLC
MEMBER
since Jun 2000
75% or moreDomestic Entity
RYBKA, LAWRENCE, JOSEPH Control
Indirect owner via VALMARK INSURANCE AGENCY, LLC
MANAGER
since Jun 2000
25–50%Individual
VALMARK FINANCIAL GROUP LLC (FKA VALMARK INSURANCE AGENCY, LLC)
Indirect owner via EXECUTIVE INSURANCE AGENCY, INC.
INTERM. SHAREHOLDER
since Jun 2016
75% or moreDomestic Entity
Ownership & leadership changes · 11 filings with changes since Dec 23, 2011

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 29, 2018 filing
  • AddedKOZENKO, ELIZABETH, ERIN · VP ACCOUNTING & FINANCE · Less than 5% · control person
  • ChangedMCCLARY, MICHAEL, ANDREW · now a control person
  • ChangedWILBURN, DOUGLAS, FREDERICK · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER/CHIEF LEGAL OFFICER; now a control person
Jul 27, 2017 filing
  • No longer listedGOERING, SHELLY, ANN · CHIEF LEGAL OFFICER · Less than 5% · listed since Nov 2011
Mar 30, 2017 filing
  • No longer listedVALMARK FINANCIAL GROUP LLC · INTERM. SHAREHOLDER · 75% or more · indirect via EXECUTIVE INSURANCE AGENCY, INC. · listed since Jun 2016
  • AddedVALMARK FINANCIAL GROUP LLC (FKA VALMARK INSURANCE AGENCY, LLC) · INTERM. SHAREHOLDER · 75% or more · indirect via EXECUTIVE INSURANCE AGENCY, INC.
Jun 17, 2016 filing
  • No longer listedVALMARK INSURANCE AGENCY LLC · INTERM. SHAREHOLDER · 75% or more · indirect via EXECUTIVE INSURANCE AGENCY, INC. · listed since Jun 2000
  • AddedVALMARK FINANCIAL GROUP LLC · INTERM. SHAREHOLDER · 75% or more · indirect via EXECUTIVE INSURANCE AGENCY, INC.
Aug 25, 2015 filing
  • No longer listedKOHMANN, DEAN, DOUGLAS · SENIOR VICE PRESIDENT, INVESTMENT SERVICES · Less than 5% · control person · listed since Aug 2013
  • AddedCALLAHAN, CALEB, JONATHAN · EVP, CHIEF OPERATING OFFICER · Less than 5% · control person
Jul 31, 2015 filing
  • No longer listedGOEBEL, LYNN, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jan 2010
  • AddedWILBURN, DOUGLAS, FREDERICK · CHIEF COMPLIANCE OFFICER · Less than 5%
Jan 5, 2015 filing
  • No longer listedBROST, BETTY, A · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Jan 2014
Sep 8, 2014 filing
  • AddedKOHMANN, DEAN, DOUGLAS · SENIOR VICE PRESIDENT, INVESTMENT SERVICES · Less than 5% · control person
Jan 15, 2014 filing
  • No longer listedCRITZER, DAVID, KENTON · TREASURER & SECRETARY · Less than 5% · listed since May 1999
  • AddedBROST, BETTY, A · CHIEF FINANCIAL OFFICER · Less than 5% · control person
Dec 10, 2013 filing
  • No longer listedRYBKA, JOSEPHINE · MEMBER · General partner, trustee or manager · indirect via VALMARK INSURANCE AGENCY, LLC · control person · listed since Jun 2000
  • No longer listedRYBKA, LAWRENCE, STEVE · MEMBER · General partner, trustee or manager · indirect via VALMARK INSURANCE AGENCY, LLC · control person · listed since Jun 2000
  • ChangedRYBKA, LAWRENCE, JOSEPH · indirect via VALMARK INSURANCE AGENCY, LLC: title MEMBER → MANAGER
  • ChangedRYBKA, LAWRENCE, JOSEPH · ownership 25–50% → Less than 5%
Older changes (2 more filings)
Mar 28, 2012 filing
  • AddedMCCLARY, MICHAEL, ANDREW · CHIEF INVESTMENT OFFICER · Less than 5%
Dec 23, 2011 filing (earliest on record)
  • ListedCRITZER, DAVID, KENTON · TREASURER & SECRETARY · Less than 5%
  • ListedEXECUTIVE INSURANCE AGENCY, INC. · MEMBER · 75% or more · indirect via VALMARK INVESTMENTS, LLC · control person
  • ListedGOEBEL, LYNN, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ListedGOERING, SHELLY, ANN · CHIEF LEGAL OFFICER · Less than 5%
  • ListedRYBKA, JOSEPHINE · MEMBER · General partner, trustee or manager · indirect via VALMARK INSURANCE AGENCY, LLC · control person
  • ListedRYBKA, LAWRENCE, JOSEPH · MEMBER · 25–50% · indirect via VALMARK INSURANCE AGENCY, LLC · control person
  • ListedRYBKA, LAWRENCE, JOSEPH · PRESIDENT, DIRECTOR · 25–50% · control person
  • ListedRYBKA, LAWRENCE, STEVE · MEMBER · General partner, trustee or manager · indirect via VALMARK INSURANCE AGENCY, LLC · control person
  • ListedVALMARK INSURANCE AGENCY LLC · INTERM. SHAREHOLDER · 75% or more · indirect via EXECUTIVE INSURANCE AGENCY, INC.
  • ListedVALMARK INVESTMENTS, LLC · INTERM. SHAREHOLDER · 75% or more · 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.

Valmark Advisers, Inc. Holdings (2026-06-30)

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 TAX-MANAGED FDS VEA 921943858 $864.0M 9.17% 12,125,742 SH
2 SPDR SERIES TRUST SPYG 78464A409 $563.8M 5.98% 4,738,201 SH
3 SPDR SERIES TRUST SPYV 78464A508 $563.0M 5.97% 9,260,907 SH
4 SPDR SERIES TRUST SPMD 78464A847 $479.6M 5.09% 7,099,453 SH
5 VANGUARD MALVERN FDS VTIP 922020805 $369.1M 3.92% 7,347,518 SH
6 VANGUARD INDEX FDS VOO 922908363 $342.0M 3.63% 497,985 SH
7 SPDR SERIES TRUST SPSB 78464A474 $324.5M 3.44% 10,812,015 SH
8 SPDR SERIES TRUST SPSM 78468R853 $294.2M 3.12% 5,101,635 SH
9 VANGUARD INTL EQUITY INDEX F VWO 922042858 $276.2M 2.93% 4,626,634 SH
10 SPDR SERIES TRUST SPTM 78464A805 $268.9M 2.85% 2,961,564 SH
11 VANGUARD SCOTTSDALE FDS VGIT 92206C706 $210.4M 2.23% 3,566,775 SH
12 FLEXSHARES TR GUNR 33939L407 $184.9M 1.96% 3,752,993 SH
13 ISHARES TR REET 46434V647 $184.2M 1.95% 6,667,766 SH
14 ISHARES TR USIG 464288620 $174.7M 1.85% 3,405,952 SH
15 ISHARES INC EMXC 46434G764 $157.2M 1.67% 1,536,180 SH
16 DBX ETF TR HYLB 233051432 $134.6M 1.43% 3,686,355 SH
17 VANGUARD BD INDEX FDS BSV 921937827 $131.6M 1.40% 1,689,123 SH
18 VANECK ETF TRUST EMLC 92189H300 $127.9M 1.36% 5,004,219 SH
19 ISHARES TR SMLF 46434V290 $114.2M 1.21% 1,280,840 SH
20 ISHARES TR LQD 464287242 $100.4M 1.07% 920,761 SH
21 CAPITAL GROUP DIVIDEND VALUE CGDV 14020W106 $85.2M 0.90% 1,727,974 SH
22 SCHWAB STRATEGIC TR SCHD 808524797 $83.5M 0.89% 2,632,336 SH
23 VANGUARD SCOTTSDALE FDS VMBS 92206C771 $83.3M 0.88% 1,779,883 SH
24 ISHARES TR HYBB 46435U473 $83.3M 0.88% 1,781,212 SH
25 CAPITAL GROUP GROWTH ETF CGGR 14020G101 $81.6M 0.87% 1,728,825 SH
26 CAPITAL GROUP DIVIDEND GROWE CGDG 14021L109 $80.6M 0.86% 2,149,433 SH
27 VANGUARD SCOTTSDALE FDS VGSH 92206C102 $78.6M 0.83% 1,350,317 SH
28 ISHARES TR IVW 464287309 $78.4M 0.83% 569,928 SH
29 WISDOMTREE TR XSOE 97717X578 $74.3M 0.79% 1,511,642 SH
30 ISHARES TR IJH 464287507 $67.7M 0.72% 877,936 SH
31 WISDOMTREE TR GTR 97717Y675 $66.0M 0.70% 2,427,600 SH
32 ISHARES TR IVE 464287408 $63.1M 0.67% 277,744 SH
33 CAPITAL GROUP CORE EQUITY ET CGUS 14020V108 $60.9M 0.65% 1,369,821 SH
34 APPLE INC AAPL 037833100 $58.9M 0.63% 203,556 SH
35 ISHARES TR IVV 464287200 $57.4M 0.61% 76,636 SH
36 CAPITAL GRP FIXED INCM ETF T CGCB 14020Y508 $56.9M 0.60% 2,171,812 SH
37 CAPITAL GRP FIXED INCM ETF T CGCP 14020Y102 $50.1M 0.53% 2,247,488 SH
38 VANGUARD INDEX FDS VTI 922908769 $49.7M 0.53% 134,361 SH
39 VANGUARD INTL EQUITY INDEX F VEU 922042775 $49.5M 0.52% 590,635 SH
40 CAPITAL GRP FIXED INCM ETF T CGMS 14020Y300 $48.5M 0.51% 1,774,486 SH
41 VANGUARD WHITEHALL FDS VYM 921946406 $43.0M 0.46% 272,000 SH
42 BLACKROCK ETF TRUST II BINC 092528603 $40.3M 0.43% 770,163 SH
43 CAPITAL GROUP GBL GROWTH EQT CGGO 14020X104 $40.3M 0.43% 951,110 SH
44 VANGUARD CHARLOTTE FDS BNDX 92203J407 $38.6M 0.41% 796,548 SH
45 ISHARES TR IJR 464287804 $38.5M 0.41% 259,402 SH
46 ISHARES TR ITOT 464287150 $36.8M 0.39% 223,801 SH
47 VANGUARD INDEX FDS VXF 922908652 $36.6M 0.39% 148,811 SH
48 VANGUARD SPECIALIZED FUNDS VIG 921908844 $35.9M 0.38% 151,846 SH
49 ISHARES TR IUSG 464287671 $33.8M 0.36% 179,657 SH
50 ISHARES TR EFA 464287465 $33.6M 0.36% 323,896 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-06 $9.42B 728 0001380443-26-000004
2026-03-31 2026-05-01 $8.42B 677 0001380443-26-000003
2025-12-31 2026-01-26 $8.11B 657 0001380443-26-000002
Filer Information
Address
130 SPRINGSIDE DRIVE
SUITE 300
AKRON, OH 44333
Phone
(330) 576-1234
Filing Manager
Valmark Advisers, Inc.
AKRON, OH
Signatory
Michael McClary
VP, CIO, ValMark Advisers,Inc.