PHILLIPS FINANCIAL MANAGEMENT, LLC

Portfolio Overview

Phillips Financial Management’s 13F at 2025-09-30 shows a $824.12 million equity/ETF portfolio, up 12.3% from $733.66 million at 2025-06-30. The filing lists 147 holdings, but the portfolio is heavily ETF‑centric: $750.28 million (≈91.0% of reported value) is categorized as “ETF.” The top 6 holdings alone total $400.91 million, or roughly 48.7% of the portfolio, and the top 10 represent about $529.5 million (≈64.2%). This indicates a concentrated implementation of a core ET...