D. SCOTT NEAL, INC.

CIK 1596920 · View on SEC EDGAR ↗

Portfolio value
$211.9M
#6,280 of 9,443 by 13F value · top 66.5%
Positions
58
As of
Sept. 30, 2025 Data as of Q3 2025

Portfolio value QoQ: +8.0% 13F does not disclose cash

Top 10 holdings weight
78.51%
Top 25 holdings weight
93.92%
Positions above 1%
17
Effective number of positions
11.7

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q3 2025: 0.56% Est. buys $1,142,531 · sells $2,494,146

Median holding: 4.0 quarters Tracked Q4 2024–Q3 2025 · 93.5% still held

New positions
4
Increased
7
Decreased
15
Closed
1
On this page

Sector breakdown

Financials
18.3%
Technology
11.0%
Industrials
9.1%
Real Estate
3.6%
Retail
1.1%
Financial Services
0.9%
Healthcare
0.6%
Telecommunication
0.5%
Communication Services
0.5%
Consumer Discretionary
0.4%
Consumer products
0.3%
Consumer Staples
0.2%
Energy
0.1%
Other/Unmapped
53.4%

Full portfolio 58 positions

Type Streak 8Q trend
GLD $35,330,164 16.68% 99,390 $4,772,480 Down ×1
QQQ Invesco QQQ Trust, Series 1 $29,929,745 14.13% 49,852 $2,258,864 Down ×3
XLC XLC $21,356,789 10.08% 180,424 $1,742,813 Down ×1
UNM Unum Group Common Stock $19,425,478 9.17% 249,749 $-1,318,940 Down ×3
AJG Arthur J. Gallagher & Co. Common Stock $17,058,698 8.05% 55,074 $-875,695 Down ×1
FLEX Flex Ltd. - Ordinary Shares $15,216,662 7.18% 262,492 $2,117,254 Up ×2
KLAC KLA Corporation - Common Stock $11,433,190 5.40% 10,600 $1,937,511 Down ×1
NSA National Storage Affiliates Trust Common Shares of Beneficial Interest $7,732,603 3.65% 255,877 $-464,355 Down ×1
IAU $4,614,710 2.18% 63,415 $279,193 Down ×2
MSFT Microsoft Corporation - Common Stock $4,232,522 2.00% 8,172 $167,847
SPY SPY $4,137,644 1.95% 6,211 $254,456 Down ×1
CAT Caterpillar, Inc. Common Stock $3,602,006 1.70% 7,549 $671,408
QLD $3,420,122 1.61% 24,928 $485,847
XLU XLU $2,926,594 1.38% 33,558 $427,716 Up ×2
BRKB $2,875,171 1.36% 5,719 $97,052
REKR Rekor Systems, Inc. - Common Stock $2,670,021 1.26% 1,700,650 $697,267
SSO $2,544,006 1.20% 22,688 $326,934
AAPL Apple Inc. - Common Stock $1,752,399 0.83% 6,882 $342,450 Up ×1
NVDA NVIDIA Corporation - Common Stock $1,701,990 0.80% 9,122 $102,810 Down ×3
RBCAA Republic Bancorp, Inc. - Class A Common Stock $1,517,250 0.72% 21,000 $-18,060
IVV $1,425,258 0.67% 2,129 $103,147
HEFA $1,242,170 0.59% 31,360 $71,939 Up ×3
T AT&T Inc. $1,017,770 0.48% 36,040 $-25,228
HD Home Depot, Inc. (The) Common Stock $946,524 0.45% 2,336 $90,052
V Visa Inc. $870,519 0.41% 2,550 $-34,859
MA Mastercard Incorporated Common Stock $775,324 0.37% 1,363 $9,374
LOW Lowe's Companies, Inc. Common Stock $653,406 0.31% 2,600 $76,544
IBM International Business Machines Corporation Common Stock $606,644 0.29% 2,150 $-119,105 Down ×1
VOO $605,644 0.29% 989 $22,845 Down ×1
JNJ Johnson & Johnson Common Stock $574,802 0.27% 3,100 $101,277
RF Regions Financial Corporation Common Stock $565,215 0.27% 21,434 $61,087
TSLA Tesla, Inc. - Common Stock $557,679 0.26% 1,254 $159,333
PG Procter & Gamble Company (The) Common Stock $555,753 0.26% 3,617 $-18,915 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $539,682 0.25% 2,220 $148,451
AMZN Amazon.com, Inc. - Common Stock $513,575 0.24% 2,339 $421
GOOG Alphabet Inc. - Class C Capital Stock $487,100 0.23% 2,000 $132,320
MO Altria Group, Inc. $469,159 0.22% 7,102 $52,768
MDY $464,904 0.22% 780 $23,049
IWM $450,046 0.21% 1,860 $48,676
ESGU iShares ESG Aware MSCI USA ETF $420,639 0.20% 2,889 $12,438 Down ×1
IWR $343,718 0.16% 3,560 $16,304
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $342,173 0.16% 7,928 $37,737
AVGO Broadcom Inc. - Common Stock $341,291 0.16% 1,034 $59,472 Up ×1
ORCL Oracle Corporation Common Stock $337,488 0.16% 1,200 $75,132
NKE Nike, Inc. Common Stock $320,758 0.15% 4,600 $-6,026
ABT Abbott Laboratories Common Stock $308,062 0.15% 2,300 $-72,766 Down ×2
ESGD iShares ESG Aware MSCI EAFE ETF $305,719 0.14% 3,288 $12,363
XOM Exxon Mobil Corporation Common Stock $285,709 0.13% 2,534 $1,763 Down ×2
HON Honeywell International Inc. - Common Stock $270,493 0.13% 1,285 $-28,758
ESGV $252,515 0.12% 2,132 $20,736 Up ×2
GS Goldman Sachs Group, Inc. (The) Common Stock $238,905 0.11% 300 $26,580
MU Micron Technology, Inc. - Common Stock $227,221 0.11% 1,358 Up ×1
WM Waste Management, Inc. Common Stock $224,585 0.11% 1,017 $-8,125
ESBA $215,760 0.10% 29,000 $-12,476
ITB $214,500 0.10% 2,000
BAC Bank of America Corporation Common Stock $205,948 0.10% 3,992 Up ×1
WMT Walmart Inc. - Common Stock $200,864 0.09% 1,949 Up ×1
LPSNXXXX $14,645 0.01% 25,107 $-10,714

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
HEFA $1,242,170 0.59% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
MU $227,221 1,358 0.11%
ITB $214,500 2,000 0.10%
BAC $205,948 3,992 0.10%
WMT $200,864 1,949 0.09%

Top movers (QoQ)

Security Action Shares Δ Value Δ
GLD Trimmed -855 +$4.8M
QQQ Trimmed -309 +$2.3M
FLEX Bought more +84 +$2.1M
KLAC Trimmed -1 +$1.9M
XLC Trimmed -300 +$1.7M
UNM Trimmed -7K -$1.3M
AJG Trimmed -950 -$876K
REKR Price move only +0 +$697K
CAT Price move only +0 +$671K
QLD Price move only +0 +$486K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
KRE March 31, 2025 101,518 $6,126,612 No longer tracked
AVGO March 31, 2025 2,098 $486,437 117.5%
NVO Sept. 30, 2025 3,210 $221,555 -16.2%
COST June 30, 2025 224 $211,855 -5.3%
ITB March 31, 2025 2,000 $206,780 No longer tracked
MRK June 30, 2025 2,270 $203,756 90.0%