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FINANCIAL MANAGEMENT NETWORK INC — 13F Holdings & Portfolio

CIK 1844831 · latest 13F-HR filed 2026-10-09

Backtest portfolio

FINANCIAL MANAGEMENT NETWORK INC manages $694.6M in 13F-reported U.S. long-equity assets across 209 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are IVV (10.14%), AVUV (4.81%), AVLV (4.69%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 11 new positions and exited 13; 69 existing positions rose in reported value and 52 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
$694.6M

Long-equity book

Holdings
209

Distinct positions

Period
2026-09-30

Filed 2026-10-09

Q/Q Activity
+11 / −13 / ↑69 / ↓52

vs 2026-06-30

Portfolio charts

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

Portfolio map

Q3 26
IVV10.1% · -1%AVUV4.8% · -2%AVLV4.7% · +10%IJH4.2% · +2%AVDV3.9% · +0%IJR3.6% · -2%AAPL3.0% · -3%VCIT2.7% · +4%BINC2.7% · +4%CLOI2.6% · +66%CGXU2.4% · -0%AVMV2.4% · +13%AVIV1.8% · +2%TXUE1.8% · +5%NVDA1.7% · -6%FFLG1.6% · +1%MOAT1.6% · -28%MSFT1.4% · +12%AMLP1.4% · -1%IVW1.4% · -0%GCOW1.3% · -4%CGCV1.3% · +11%CGGR1.3% · +10%VHT1.2% · -1%FBND1.1% · +1%CGGO1.1% · +0%AMZN1.1% · -1%GOOGL1.0% · 0%TSLA0.9% · +5%V0.9% · -1%ARCC0.9% · +28%SMOT0.8% · -49%GOOG0.8% · +0%GOVT0.8% · -13%IAU0.7% · 0%NEAR0.7% · -8%SHV0.6% · -1%AVGO0.6% · +128%VIG0.6% · -2%QQQ0.6% · -1%STXK0.5% · -2%STXF0.5% · newCSNR0.5% · +10%WINN0.5% · -0%JEPI0.5% · +2%SHY0.4% · +10%VCSH0.4% · +6%BRK.A0.4% · 0%JPM0.4% · -0%CAT0.4% · -14%PTNQ0.4% · -6%SPG0.4% · -2%GLD0.4% · 0%VTEC0.4% · +11%SPCX0.3% · +86%CVX0.3% · -0%GPIX0.3% · +7%PANW0.3% · 0%BIZD0.3% · -0%CALI0.3% · -7%

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 = 42.3%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Dec 19, 2025.

Assets Under Management
$2.14B
Discretionary
$1.56B
Employees
50
Accounts
4,474
Address
26041 ACERO
MISSION VIEJO, CA 92691
Phone
(949) 455-0300
Website
Name Title / Status Ownership Type
JEFFREY G MERWIN IRREVOCABLE TRUST, DATED DECEMBER 29, 2021 ControlTRUST
since Dec 2021
25–50%Domestic Entity
JOHN J MERWIN IRREVOCABLE TRUST, DATED DECEMBER 28, 2021 ControlTRUST
since Dec 2021
Less than 5%Domestic Entity
MATTHEW M. MERWIN IRREVOCABLE TRUST DATED DECEMBER 28, 2021 ControlTRUST
since Dec 2021
25–50%Domestic Entity
MERWIN FAMILY TRUST DATED APRIL 5, 2001 ControlTRUST
since Dec 2021
10–25%Domestic Entity
MERWIN, JEFFREY, GEORGE ControlMANAGING PARTNER/TTEE"/CHIEF COMPLIANCE OFFICER
since Dec 2021
Less than 5%Individual
MERWIN, MATTHEW, MICHAEL ControlMANAGING PARTNER/TRUSTEE
since Dec 2021
Less than 5%Individual
FMN ESOP UTD 09/22/2006TRUST
since Mar 2008
10–25%Domestic Entity
MERWIN, JOHN, JTRUSTEE
since Dec 2021
Less than 5%Individual
MERWIN, MATTHEW, SCOTTMANAGING PARTNER / ADVISORY BOARD MEMBER
since Dec 2021
Less than 5%Individual
MERWIN, KATHY, JANE
Indirect owner via MERWIN FAMILY TRUST DATED APRIL 5, 2001
TRUSTEE
since Apr 2001
50–75%Individual
Ownership & leadership changes · 3 filings with changes since May 1, 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.

Jan 9, 2022 filing
  • No longer listedMERWIN, KATHY, JANE · TRUSTEE · Less than 5% · control person · listed since Apr 2001
  • AddedJEFFREY G MERWIN IRREVOCABLE TRUST, DATED DECEMBER 29, 2021 · TRUST · 25–50% · control person
  • AddedJOHN J MERWIN IRREVOCABLE TRUST, DATED DECEMBER 28, 2021 · TRUST · Less than 5% · control person
  • AddedMATTHEW M. MERWIN IRREVOCABLE TRUST DATED DECEMBER 28, 2021 · TRUST · 25–50% · control person
  • AddedMERWIN, JOHN, J · TRUSTEE · Less than 5%
  • AddedMERWIN, KATHY, JANE · TRUSTEE · 50–75% · indirect via MERWIN FAMILY TRUST DATED APRIL 5, 2001
  • AddedMERWIN, MATTHEW, MICHAEL · MANAGING PARTNER/TRUSTEE · Less than 5% · control person
  • ChangedMERWIN FAMILY TRUST DATED APRIL 5, 2001 · ownership 75% or more → 10–25%
  • ChangedMERWIN, JEFFREY, GEORGE · title CHIEF COMPLIANCE OFFICER → MANAGING PARTNER/TTEE"/CHIEF COMPLIANCE OFFICER; now a control person
  • ChangedMERWIN, MATTHEW, SCOTT · title PRESIDENT/TRUSTEE → MANAGING PARTNER / ADVISORY BOARD MEMBER; no longer a control person
Dec 16, 2016 filing
  • ChangedMERWIN, MATTHEW, SCOTT · title PRESIDENT → PRESIDENT/TRUSTEE
Jul 19, 2016 filing
  • AddedMERWIN, JEFFREY, GEORGE · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ChangedMERWIN, MATTHEW, SCOTT · title PRESIDENT/CHIEF COMPLIANCE OFFICER → PRESIDENT
May 1, 2012 filing (earliest on record)
  • ListedFMN ESOP UTD 09/22/2006 · TRUST · 10–25%
  • ListedMERWIN FAMILY TRUST DATED APRIL 5, 2001 · TRUST · 75% or more · control person
  • ListedMERWIN, KATHY, JANE · TRUSTEE · Less than 5% · control person
  • ListedMERWIN, MATTHEW, SCOTT · PRESIDENT/CHIEF COMPLIANCE OFFICER · Less than 5% · 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.

FINANCIAL MANAGEMENT NETWORK INC 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 ISHARES TR IVV 464287200 $70.4M 10.14% 91,104 SH
2 AMERICAN CENTY ETF TR AVUV 025072877 $33.4M 4.81% 278,154 SH
3 AMERICAN CENTY ETF TR AVLV 025072349 $32.6M 4.69% 355,983 SH
4 ISHARES TR IJH 464287507 $28.9M 4.15% 393,203 SH
5 AMERICAN CENTY ETF TR AVDV 025072802 $27.0M 3.88% 247,281 SH
6 ISHARES TR IJR 464287804 $25.1M 3.62% 181,368 SH
7 APPLE INC AAPL 037833100 $20.9M 3.01% 62,653 SH
8 VANGUARD SCOTTSDALE FDS VCIT 92206C870 $18.7M 2.69% 239,880 SH
9 BLACKROCK ETF TRUST II BINC 092528603 $18.6M 2.68% 367,595 SH
10 VANECK ETF TRUST CLOI 92189H748 $18.1M 2.61% 343,059 SH
11 CAPITAL GROUP INTL FOCUS EQT CGXU 14019W109 $16.7M 2.41% 481,889 SH
12 AMERICAN CENTY ETF TR AVMV 025072133 $16.5M 2.38% 213,260 SH
13 AMERICAN CENTY ETF TR AVIV 025072364 $12.4M 1.78% 155,409 SH
14 THORNBURG ETF TR TXUE 88521L306 $12.2M 1.75% 351,360 SH
15 NVIDIA CORPORATION NVDA 67066G104 $11.8M 1.70% 50,515 SH
16 FIDELITY COVINGTON TRUST FFLG 316092337 $11.2M 1.61% 323,925 SH
17 VANECK ETF TRUST MOAT 92189F643 $10.8M 1.55% 101,572 SH
18 MICROSOFT CORP MSFT 594918104 $10.0M 1.44% 19,371 SH
19 ALPS ETF TR AMLP 00162Q452 $9.7M 1.40% 184,780 SH
20 ISHARES TR IVW 464287309 $9.4M 1.35% 65,212 SH
21 PACER FDS TR GCOW 69374H709 $9.0M 1.30% 202,260 SH
22 CAPITAL GROUP CONSERVATIVE E CGCV 14020U100 $8.8M 1.27% 273,681 SH
23 CAPITAL GROUP GROWTH ETF CGGR 14020G101 $8.8M 1.26% 183,617 SH
24 VANGUARD WORLD FD VHT 92204A504 $8.0M 1.16% 25,788 SH
25 FIDELITY MERRIMACK STR TR FBND 316188309 $7.6M 1.10% 176,232 SH
26 CAPITAL GROUP GBL GROWTH EQT CGGO 14020X104 $7.6M 1.09% 190,193 SH
27 AMAZON COM INC AMZN 023135106 $7.5M 1.07% 29,626 SH
28 ALPHABET INC GOOGL 02079K305 $7.0M 1.01% 20,435 SH
29 TESLA INC TSLA 88160R101 $6.3M 0.90% 16,932 SH
30 VISA INC V 92826C839 $6.1M 0.87% 16,818 SH
31 ARES CAPITAL CORP ARCC 04010L103 $6.0M 0.86% 316,158 SH
32 VANECK ETF TRUST SMOT 92189H730 $5.7M 0.83% 152,571 SH
33 ALPHABET INC GOOG 02079K107 $5.7M 0.81% 16,626 SH
34 ISHARES TR GOVT 46429B267 $5.5M 0.80% 253,706 SH
35 ISHARES GOLD TR IAU 464285204 $4.9M 0.70% 62,447 SH
36 ISHARES U S ETF TR NEAR 46431W507 $4.8M 0.69% 96,654 SH
37 ISHARES TR SHV 464288679 $4.3M 0.63% 39,468 SH
38 BROADCOM INC AVGO 11135F101 $4.1M 0.60% 11,662 SH
39 VANGUARD SPECIALIZED FUNDS VIG 921908844 $4.0M 0.58% 17,081 SH
40 INVESCO QQQ TR QQQ 46090E103 $3.8M 0.55% 5,111 SH
41 EA SERIES TRUST STXK 02072L573 $3.8M 0.55% 104,671 SH
42 EA SERIES TRUST STXF 02072L680 $3.7M 0.54% 75,243 SH
43 COHEN & STEERS ETF TRUST CSNR 19249U302 $3.5M 0.50% 95,925 SH
44 HARBOR ETF TRUST WINN 41151J406 $3.4M 0.50% 99,229 SH
45 J P MORGAN EXCHANGE TRADED F JEPI 46641Q332 $3.4M 0.49% 61,202 SH
46 ISHARES TR SHY 464287457 $3.1M 0.45% 38,330 SH
47 VANGUARD SCOTTSDALE FDS VCSH 92206C409 $3.1M 0.44% 39,905 SH
48 BERKSHIRE HATHAWAY INC DEL BRK.A 084670108 $3.0M 0.43% 4 SH
49 JPMORGAN CHASE & CO JPM 46625H100 $3.0M 0.43% 8,987 SH
50 CATERPILLAR INC CAT 149123101 $2.9M 0.42% 3,415 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-09 $694.6M 209 0001754960-26-000825
2026-06-30 2026-08-06 $696.8M 211 0001754960-26-000687
2026-03-31 2026-04-17 $653.0M 191 0001754960-26-000267
2025-12-31 2026-01-08 $632.0M 186 0001754960-26-000016
Filer Information
Address
26041 ACERO
MISSION VIEJO, CA 92691
Phone
(949) 455-0300
Filing Manager
FINANCIAL MANAGEMENT NETWORK INC
MISSION VIEJO, CA
Signatory
Aryn Sands
Agent