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Burton Enright Welch — 13F Holdings & Portfolio

CIK 2105919 · latest 13F-HR filed 2026-11-04

Backtest portfolio

Burton Enright Welch manages $932.5M in 13F-reported U.S. long-equity assets across 172 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are DFAC (19.81%), AVDV (6.49%), AVUV (6.44%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 43 new positions and exited 7; 68 existing positions rose in reported value and 22 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
$932.5M

Long-equity book

Holdings
172

Distinct positions

Period
2026-09-30

Filed 2026-11-04

Q/Q Activity
+43 / −7 / ↑68 / ↓22

vs 2026-06-30

Portfolio charts

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

Portfolio map

Q3 26
DFAC19.8% · +4%AVDV6.5% · -0%AVUV6.4% · +0%BNDX5.7% · -4%DUHP5.6% · +4%DFIC5.3% · +7%DFEM4.8% · +6%AVUS3.6% · -0%VCRB3.0% · +1%VTIP2.4% · +8%AVDE2.1% · -1%DFAR2.0% · +5%CGXU1.9% · +17%AVEM1.8% · +3%CVX1.7% · +0%AAPL1.4% · +14%MCK1.1% · -0%SPY1.0% · +414%VBIL0.9% · +70%VGK0.8% · -3%NVDA0.8% · +2%DFGX0.8% · newLECO0.7% · +9%JQUA0.6% · -0%CGIE0.6% · +10%VPLS0.5% · +194%VCRM0.5% · +174%DFAE0.5% · -0%MSFT0.5% · +2%DFAU0.4% · -0%DFAT0.4% · -0%VTES0.4% · +29%DCOR0.4% · -2%DFSV0.4% · +14%VTEC0.4% · +37%GOOG0.4% · +41%AMZN0.4% · +2%CGMU0.3% · +116%DISV0.3% · -3%DFSU0.3% · +0%AVGO0.3% · -0%BAC0.3% · +5%DFGR0.3% · +2%VSDM0.3% · +77%VOO0.3% · -3%VTI0.3% · +355%GOOGL0.3% · -1%DFAI0.3% · -0%USMV0.3% · newQUAL0.3% · -1%IVV0.3% · -2%INTC0.3% · +37%CNOB0.2% · 0%LLY0.2% · -5%IEUR0.2% · -1%AMAT0.2% · +432%BND0.2% · +283%TSLA0.2% · -10%CGSM0.2% · +74%QQQ0.2% · +317%

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 = 63.2%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 29, 2026.

Assets Under Management
$1.55B
Discretionary
$1.41B
Employees
19
Accounts
2,350
Address
1850 MT. DIABLO BOULEVARD
SUITE 335
WALNUT CREEK, CA 94596
Phone
(925) 932-8010
Website
Name Title / Status Ownership Type
JAW ASSET MANAGEMENT ControlPARTNER
since Jan 2010
25–50%Domestic Entity
PMB ASSET MANAGEMENT ControlPARTNER
since Jan 2010
25–50%Domestic Entity
RDE ASSET MANAGEMENT ControlPARTNER
since Jan 2010
25–50%Domestic Entity
BRP ASSET MANAGEMENTPARTNER
since Apr 2021
10–25%Domestic Entity
CSH ASSET MANAGEMENTPARTNER
since Apr 2024
Less than 5%Domestic Entity
KMR ASSET MANAGEMENT, INC.PARTNER
since Apr 2024
Less than 5%Domestic Entity
PETERS, BENJAMIN, ROSSCHIEF COMPLIANCE OFFICER
since Jan 2015
Less than 5%Individual
BURTON, PETER, MICHAEL Control
Indirect owner via PMB ASSET MANAGMENT
PRESIDENT
since Jan 2010
75% or moreIndividual
ENRIGHT, ROBERT, DANIEL Control
Indirect owner via RDE ASSET MANAGEMENT
PRESIDENT
since Jan 2010
75% or moreIndividual
PETERS, BENJAMIN, ROSS Control
Indirect owner via BRP ASSET MANAGEMENT
OWNER
since Apr 2021
75% or moreIndividual
WELCH, JEREMY, ADAM Control
Indirect owner via JAW ASSET MANAGEMENT
PRESIDENT
since Jan 2010
75% or moreIndividual
HUGHES, CHRISTOPHER, STEPHEN
Indirect owner via CSH ASSET MANAGEMENT
OWNER
since Apr 2024
75% or moreIndividual
METZLER, KELLY, MARIE
Indirect owner via KMR ASSET MANAGEMENT, INC.
OWNER
since Apr 2024
75% or moreIndividual
Ownership & leadership changes · 4 filings with changes since Mar 20, 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.

May 14, 2024 filing
  • AddedCSH ASSET MANAGEMENT · PARTNER · Less than 5%
  • AddedHUGHES, CHRISTOPHER, STEPHEN · OWNER · 75% or more · indirect via CSH ASSET MANAGEMENT
  • AddedKMR ASSET MANAGEMENT, INC. · PARTNER · Less than 5%
  • AddedMETZLER, KELLY, MARIE · OWNER · 75% or more · indirect via KMR ASSET MANAGEMENT, INC.
  • ChangedBRP ASSET MANAGEMENT · ownership 5–10% → 10–25%
Apr 8, 2021 filing
  • AddedBRP ASSET MANAGEMENT · PARTNER · 5–10%
  • AddedPETERS, BENJAMIN, ROSS · OWNER · 75% or more · indirect via BRP ASSET MANAGEMENT · control person
Mar 23, 2015 filing
  • No longer listedENRIGHT, ROBERT, DANIEL · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jan 2010
  • AddedPETERS, BENJAMIN, ROSS · CHIEF COMPLIANCE OFFICER · Less than 5%
Jan 27, 2014 filing
  • ChangedJAW ASSET MANAGEMENT · ownership 10–25% → 25–50%
Mar 20, 2012 filing (earliest on record)
  • ListedBURTON, PETER, MICHAEL · PRESIDENT · 75% or more · indirect via PMB ASSET MANAGMENT · control person
  • ListedENRIGHT, ROBERT, DANIEL · PRESIDENT · 75% or more · indirect via RDE ASSET MANAGEMENT · control person
  • ListedENRIGHT, ROBERT, DANIEL · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedJAW ASSET MANAGEMENT · PARTNER · 10–25% · control person
  • ListedPMB ASSET MANAGEMENT · PARTNER · 25–50% · control person
  • ListedRDE ASSET MANAGEMENT · PARTNER · 25–50% · control person
  • ListedWELCH, JEREMY, ADAM · PRESIDENT · 75% or more · indirect via JAW ASSET MANAGEMENT · 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.

Burton Enright Welch 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 DIMENSIONAL ETF TRUST DFAC 25434V708 $184.7M 19.81% 4,155,662 SH
2 AMERICAN CENTY ETF TR AVDV 025072802 $60.5M 6.49% 553,378 SH
3 AMERICAN CENTY ETF TR AVUV 025072877 $60.0M 6.44% 509,754 SH
4 VANGUARD CHARLOTTE FDS BNDX 92203J407 $53.1M 5.70% 1,133,442 SH
5 DFA INVT DIMENSIONS GROUP IN DUHP 25239Y196 $52.2M 5.60% 1,246,284 SH
6 DIMENSIONAL ETF TRUST DFIC 25434V799 $49.7M 5.33% 1,320,627 SH
7 DIMENSIONAL ETF TRUST DFEM 25434V732 $45.0M 4.82% 1,131,886 SH
8 AMERICAN CENTY ETF TR AVUS 025072885 $34.0M 3.64% 265,175 SH
9 VANGUARD MALVERN FDS VCRB 922020748 $27.6M 2.96% 374,341 SH
10 VANGUARD MALVERN FDS VTIP 922020805 $22.4M 2.40% 454,858 SH
11 AMERICAN CENTY ETF TR AVDE 025072703 $19.7M 2.11% 218,388 SH
12 DFA INVT DIMENSIONS GROUP IN DFAR 25239Y147 $19.0M 2.04% 786,615 SH
13 CAPITAL GROUP INTL FOCUS EQT CGXU 14019W109 $17.9M 1.92% 521,405 SH
14 AMERICAN CENTY ETF TR AVEM 025072604 $16.6M 1.78% 176,860 SH
15 CHEVRON CORPORATION CVX 166764100 $16.2M 1.74% 79,411 SH
16 APPLE INC AAPL 037833100 $12.8M 1.37% 38,420 SH
17 MCKESSON CORP MCK 58155Q103 $10.0M 1.08% 11,741 SH
18 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $9.8M 1.05% 12,829 SH
19 VANGUARD INSTL INDEX FD VBIL 922040845 $8.1M 0.87% 107,472 SH
20 VANGUARD INTL EQUITY INDEX F VGK 922042874 $7.4M 0.79% 85,190 SH
21 NVIDIA CORPORATION NVDA 67066G104 $7.1M 0.76% 30,932 SH
22 DIMENSIONAL ETF TRUST DFGX 25434V575 $7.0M 0.75% 137,165 SH
23 LINCOLN ELEC HLDGS INC LECO 533900106 $6.6M 0.70% 24,766 SH
24 J P MORGAN EXCHANGE TRADED F JQUA 46641Q761 $5.9M 0.63% 79,773 SH
25 CAPITAL GROUP INTERNATIONAL CGIE 14021M107 $5.7M 0.61% 155,915 SH
26 VANGUARD MALVERN FDS VPLS 922020755 $4.9M 0.53% 66,512 SH
27 VANGUARD MUN BD FDS VCRM 922907712 $4.6M 0.49% 63,902 SH
28 DIMENSIONAL ETF TRUST DFAE 25434V302 $4.5M 0.48% 114,407 SH
29 MICROSOFT CORP MSFT 594918104 $4.4M 0.47% 8,516 SH
30 DIMENSIONAL ETF TRUST DFAU 25434V104 $4.2M 0.45% 79,350 SH
31 DIMENSIONAL ETF TRUST DFAT 25434V609 $4.0M 0.43% 60,383 SH
32 VANGUARD WELLINGTON FD VTES 921935870 $3.9M 0.42% 39,341 SH
33 DFA INVT DIMENSIONS GROUP IN DCOR 25239Y220 $3.8M 0.41% 46,373 SH
34 DFA INVT DIMENSIONS GROUP IN DFSV 25239Y170 $3.8M 0.41% 101,575 SH
35 VANGUARD CALIF TAX FREE FDS VTEC 922021605 $3.4M 0.37% 36,276 SH
36 ALPHABET INC GOOG 02079K107 $3.4M 0.36% 9,894 SH
37 AMAZON COM INC AMZN 023135106 $3.3M 0.36% 13,416 SH
38 CAPITAL GRP FIXED INCM ETF T CGMU 14020Y201 $3.3M 0.35% 125,468 SH
39 DIMENSIONAL ETF TRUST DISV 25434V781 $3.2M 0.35% 74,442 SH
40 DIMENSIONAL ETF TRUST DFSU 25434V716 $3.2M 0.34% 67,612 SH
41 BROADCOM INC AVGO 11135F101 $3.1M 0.34% 8,918 SH
42 BANK OF AMER CORP BAC 060505104 $3.1M 0.33% 56,451 SH
43 DIMENSIONAL ETF TRUST DFGR 25434V658 $3.0M 0.32% 109,563 SH
44 VANGUARD MUN BD FDS VSDM 922907696 $2.8M 0.30% 37,850 SH
45 VANGUARD INDEX FDS VOO 922908363 $2.7M 0.29% 3,844 SH
46 VANGUARD INDEX FDS VTI 922908769 $2.6M 0.28% 6,967 SH
47 ALPHABET INC GOOGL 02079K305 $2.6M 0.28% 7,528 SH
48 DIMENSIONAL ETF TRUST DFAI 25434V203 $2.6M 0.28% 62,263 SH
49 ISHARES TR USMV 46429B697 $2.5M 0.26% 25,274 SH
50 ISHARES TR QUAL 46432F339 $2.4M 0.26% 10,937 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-04 $932.5M 172 0002105919-26-000021
2026-06-30 2026-07-17 $851.5M 146 0002105919-26-000020
2026-03-31 2026-05-04 $735.5M 143 0002105919-26-000019
2025-09-30 2026-03-09 $662.4M 130 0002105919-26-000018
Filer Information
Address
1850 MT DIABLO BLVD STE 335
WALNUT CREEK, CA 94596-4476
Phone
(925) 932-8010
Filing Manager
Burton Enright Welch
WALNUT CREEK, CA
Signatory
Ben Peters
Lead Advisor & CCO