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ERn Financial, LLC — 13F Holdings & Portfolio

CIK 1768302 · latest 13F-HR filed 2026-07-23

Backtest portfolio

ERn Financial, LLC manages $604.3M in 13F-reported U.S. long-equity assets across 161 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SPYG (7.36%), SPYV (7.17%), SPDW (5.44%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 16 new positions and exited 5; 112 existing positions rose in reported value and 14 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.

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AUM
$604.3M

Long-equity book

Holdings
161

Distinct positions

Period
2026-06-30

Filed 2026-07-23

Q/Q Activity
+16 / −5 / ↑112 / ↓14

vs 2026-03-31

Portfolio charts

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

Portfolio map

Q2 26
SPYG7.4% · +0%SPYV7.2% · +2%SPDW5.4% · -0%IEFA3.5% · +3%USTB2.9% · +5%AVEM2.7% · -1%MDYV2.7% · +1%SPEM2.3% · +1%JTEK2.2% · +1%PYLD2.2% · +7%QUAL2.1% · -1%REET2.0% · +1%JHML2.0% · +2%DFCF2.0% · +7%DFAX1.9% · +1%VUG1.9% · +498%MDYG1.7% · +0%SPAB1.7% · +11%SPIP1.6% · +7%SPYM1.6% · +6%FDG1.6% · +8%OMFL1.5% · -6%USRT1.5% · +2%RAAX1.4% · +4%HMOP1.4% · 0%FMB1.3% · +0%AVUV1.3% · -0%VONG1.2% · -1%VOO1.2% · +0%MUNI1.2% · +2%EFA1.2% · -2%PVAL1.1% · +1%AAPL1.1% · +2%FIXD1.0% · +5%IJR1.0% · +1%JMST1.0% · +10%JBND1.0% · +7%SLYG1.0% · -1%DYNF0.9% · -1%IVV0.8% · +0%JHMM0.7% · +0%VTV0.7% · +0%NVDA0.6% · +22%FNOV0.6% · +1%DFAI0.5% · -15%DFAU0.5% · -2%CGXU0.5% · +12%IVVB0.4% · +4%VOT0.4% · -2%FNDE0.4% · +0%IJH0.4% · +2%FSEP0.4% · -0%VO0.4% · +277%QQQ0.3% · -2%SPHQ0.3% · +0%DFIS0.3% · +4%COWZ0.3% · -8%FTCS0.3% · -0%MSFT0.3% · +1%FVD0.3% · -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 = 38.5%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Apr 8, 2026.

Assets Under Management
$1.15B
Discretionary
$1.08B
Employees
12
Accounts
2,608
Address
8215 GREENWAY BOULEVARD
SUITE 540
MIDDLETON, WI 53562
Phone
(608) 662-9018
Website
Name Title / Status Ownership Type
BUCHANAN, MARK, GREGORY ControlCHIEF COMPLIANCE OFFICER/COO
since Dec 2023
Less than 5%Individual
ERN MICHIGAN, INC. ControlMEMBER
since May 2018
25–50%Domestic Entity
ERN WISCONSIN, INC. ControlMEMBER
since May 2018
25–50%Domestic Entity
MOOSHERR, ERNEST, PATRICK ControlCHIEF EXECUTIVE OFFICER
since May 2018
Less than 5%Individual
RAETHER, ERIC, DAVID ControlPRESIDENT
since May 2018
Less than 5%Individual
MOOSHERR, ERNEST, PATRICK Control
Indirect owner via ERN MICHIGAN, INC.
MEMBER
since May 2018
75% or moreIndividual
RAETHER, ERIC, DAVID Control
Indirect owner via ERN WISCONSIN, INC.
MEMBER
since May 2018
75% or moreIndividual
MUEHL, DAVID, MICHAEL
Indirect owner via ERN WISCONSIN, INC.
MEMBER
since May 2018
General partner, trustee or managerIndividual
Ownership & leadership changes · 7 filings with changes since Jul 2, 2018

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.

Jun 3, 2025 filing
  • No longer listedERN-CD ARIZONA · MEMBER · 25–50% · control person · listed since Jun 2021
  • No longer listedWING, CHAD, FREDERICK · VICE PRESIDENT · Less than 5% · control person · listed since Jun 2021
  • No longer listedWING, CHAD, FREDERICK · MEMBER · 75% or more · indirect via ERN-CD ARIZONA · control person · listed since Jun 2021
Feb 18, 2025 filing
  • ChangedMUEHL, DAVID, MICHAEL · indirect via ERN WISCONSIN, INC.: ownership 25–50% → General partner, trustee or manager
Mar 19, 2024 filing
  • No longer listedBRUTTON, DUSTIN, ELLIOTT · MEMBER · 25–50% · indirect via ERN-CD ARIZONA · listed since Jun 2021
Jan 17, 2024 filing
  • No longer listedConwell, Scott, O · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jun 2018
  • AddedBUCHANAN, MARK, GREGORY · CHIEF COMPLIANCE OFFICER/COO · Less than 5% · control person
Mar 29, 2022 filing
  • No longer listedMIDA, RICHARD, EDWARD · MEMBER · 25–50% · indirect via ERN MICHIGAN, INC. · listed since Dec 2019
Jun 19, 2021 filing
  • AddedBRUTTON, DUSTIN, ELLIOTT · MEMBER · 25–50% · indirect via ERN-CD ARIZONA
  • AddedERN-CD ARIZONA · MEMBER · 25–50% · control person
  • AddedWING, CHAD, FREDERICK · VICE PRESIDENT · Less than 5% · control person
  • AddedWING, CHAD, FREDERICK · MEMBER · 75% or more · indirect via ERN-CD ARIZONA · control person
  • ChangedERN MICHIGAN, INC. · ownership 50–75% → 25–50%
  • ChangedERN WISCONSIN, INC. · ownership 50–75% → 25–50%
Mar 30, 2020 filing
  • AddedMIDA, RICHARD, EDWARD · MEMBER · 25–50% · indirect via ERN MICHIGAN, INC.
Jul 2, 2018 filing (earliest on record)
  • ListedConwell, Scott, O · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedERN MICHIGAN, INC. · MEMBER · 50–75% · control person
  • ListedERN WISCONSIN, INC. · MEMBER · 50–75% · control person
  • ListedMOOSHERR, ERNEST, PATRICK · CHIEF EXECUTIVE OFFICER · Less than 5% · control person
  • ListedMOOSHERR, ERNEST, PATRICK · MEMBER · 75% or more · indirect via ERN MICHIGAN, INC. · control person
  • ListedMUEHL, DAVID, MICHAEL · MEMBER · 25–50% · indirect via ERN WISCONSIN, INC.
  • ListedRAETHER, ERIC, DAVID · PRESIDENT · Less than 5% · control person
  • ListedRAETHER, ERIC, DAVID · MEMBER · 75% or more · indirect via ERN WISCONSIN, INC. · 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.

ERn Financial, LLC 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 SPDR SERIES TRUST SPYG 78464A409 $44.5M 7.36% 373,603 SH
2 SPDR SERIES TRUST SPYV 78464A508 $43.3M 7.17% 712,567 SH
3 SPDR INDEX SHS FDS SPDW 78463X889 $32.9M 5.44% 652,818 SH
4 ISHARES TR IEFA 46432F842 $20.9M 3.46% 216,224 SH
5 VICTORY PORTFOLIOS II USTB 92647N535 $17.7M 2.93% 349,663 SH
6 AMERICAN CENTY ETF TR AVEM 025072604 $16.6M 2.74% 171,570 SH
7 SPDR SERIES TRUST MDYV 78464A839 $16.2M 2.69% 171,098 SH
8 SPDR INDEX SHS FDS SPEM 78463X509 $14.0M 2.31% 269,872 SH
9 J P MORGAN EXCHANGE TRADED F JTEK 46654Q732 $13.4M 2.22% 120,322 SH
10 PIMCO ETF TR PYLD 72201R585 $13.3M 2.19% 500,101 SH
11 ISHARES TR QUAL 46432F339 $12.4M 2.06% 56,629 SH
12 ISHARES TR REET 46434V647 $12.1M 2.01% 439,376 SH
13 JOHN HANCOCK EXCHANGE TRADED JHML 47804J107 $12.1M 2.00% 135,558 SH
14 DIMENSIONAL ETF TRUST DFCF 25434V872 $11.9M 1.97% 282,203 SH
15 DIMENSIONAL ETF TRUST DFAX 25434V880 $11.7M 1.94% 318,909 SH
16 VANGUARD INDEX FDS VUG 922908736 $11.4M 1.89% 132,586 SH
17 SPDR SERIES TRUST MDYG 78464A821 $10.3M 1.70% 91,445 SH
18 SPDR SERIES TRUST SPAB 78464A649 $10.1M 1.68% 397,513 SH
19 SPDR SERIES TRUST SPIP 78464A656 $9.6M 1.58% 371,944 SH
20 SPDR SERIES TRUST SPYM 78464A854 $9.5M 1.57% 108,169 SH
21 AMERICAN CENTY ETF TR FDG 025072810 $9.5M 1.56% 71,005 SH
22 INVESCO EXCH TRD SLF IDX FD OMFL 46138J619 $9.2M 1.52% 133,689 SH
23 ISHARES TR USRT 464288521 $8.8M 1.46% 132,502 SH
24 VANECK ETF TRUST RAAX 92189F130 $8.7M 1.44% 218,783 SH
25 HARTFORD FDS EXCHANGE TRADED HMOP 41653L503 $8.2M 1.35% 208,729 SH
26 FIRST TR EXCH TRADED FD III FMB 33739N108 $7.8M 1.30% 152,769 SH
27 AMERICAN CENTY ETF TR AVUV 025072877 $7.6M 1.27% 61,310 SH
28 VANGUARD SCOTTSDALE FDS VONG 92206C680 $7.4M 1.23% 58,130 SH
29 VANGUARD INDEX FDS VOO 922908363 $7.4M 1.22% 10,752 SH
30 PIMCO ETF TR MUNI 72201R866 $7.3M 1.20% 138,155 SH
31 ISHARES TR EFA 464287465 $7.0M 1.17% 67,864 SH
32 PUTNAM ETF TRUST PVAL 746729300 $6.7M 1.12% 132,470 SH
33 APPLE INC AAPL 037833100 $6.6M 1.09% 22,779 SH
34 FIRST TR EXCHNG TRADED FD VI FIXD 33740F805 $6.2M 1.03% 143,214 SH
35 ISHARES TR IJR 464287804 $6.2M 1.02% 41,653 SH
36 J P MORGAN EXCHANGE TRADED F JMST 46641Q654 $5.9M 0.98% 115,911 SH
37 J P MORGAN EXCHANGE TRADED F JBND 46654Q716 $5.9M 0.97% 109,604 SH
38 SPDR SERIES TRUST SLYG 78464A201 $5.8M 0.96% 48,685 SH
39 BLACKROCK ETF TRUST DYNF 09290C103 $5.2M 0.86% 76,093 SH
40 ISHARES TR IVV 464287200 $4.5M 0.75% 6,066 SH
41 JOHN HANCOCK EXCHANGE TRADED JHMM 47804J206 $4.4M 0.73% 58,812 SH
42 VANGUARD INDEX FDS VTV 922908744 $4.4M 0.73% 20,113 SH
43 NVIDIA CORPORATION NVDA 67066G104 $3.6M 0.59% 17,872 SH
44 FIRST TR EXCHNG TRADED FD VI FNOV 33740F847 $3.4M 0.55% 57,313 SH
45 DIMENSIONAL ETF TRUST DFAI 25434V203 $3.1M 0.52% 76,316 SH
46 DIMENSIONAL ETF TRUST DFAU 25434V104 $3.1M 0.51% 59,969 SH
47 CAPITAL GROUP INTL FOCUS EQT CGXU 14019W109 $3.0M 0.49% 86,256 SH
48 BLACKROCK ETF TRUST II IVVB 092528801 $2.5M 0.42% 72,456 SH
49 VANGUARD INDEX FDS VOT 922908538 $2.5M 0.41% 8,101 SH
50 SCHWAB STRATEGIC TR FNDE 808524730 $2.4M 0.40% 61,131 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-07-23 $604.3M 161 0001768302-26-000004
2026-03-31 2026-04-24 $531.8M 150 0001768302-26-000003
2025-12-31 2026-01-15 $531.9M 146 0001768302-26-000001
Filer Information
Address
8215 GREENWAY BOULEVARD
SUITE 540
MIDDLETON, WI 53562
Phone
(608) 665-1714
Filing Manager
ERn Financial, LLC
MIDDLETON, WI
Signatory
Mark Buchanan
CCO