Modera Wealth Management, LLC

Key implications:

• The portfolio structure reflects a core built from broad ETFs plus a satellite layer of factor/active ETFs and selected individual equities.
• Low turnover in the quarter (1 new, 1 sold, 7 increases, 42 reductions) and a large ETF base indicate a predominantly strategic, low- to moderate-turnover approach.

Key Holdings and Their Significance

• VUG (Vanguard U.S. Large-Cap Growth ETF) — $583.9M (6.75%): largest single holding; signals a material allocation to U.S. large-cap growth exposure as a core element.
• VEA / IEFA / VWO / EFA (developed & broad international ETFs) — combined material exposure (VEA $343.9M, IEFA $313.5M, VWO $90.8M, EFA $51.9M): indicates sizeable developed- and emerging-market international allocation.
• Dimensional, American Century and other factor ETFs (DFAC $191.9M, DFAU $154.6M, DFIV $113.8M, DFUV $102.3M, AVDV $195.4M, AVUS $111.1M, DFSV/DIHP/etc.): substantial exposure to factor-based / active-managed ETF strategies (value, small-cap, other factor tilts).
• Fixed-income / short-duration exposure via ETFs: STIP $233.4M and VCSH $72.8M provide inflation-protected short-term and short-term corporate exposure inside the equity filing.
• Large-cap individual equities concentrated in tech and high-quality names: AAPL $221.0M, MSFT $187.5M, GOOG $115.5M, AVGO $117.2M, TSM $78.1M—these are satellite high-conviction names but collectively still a minority of assets.