RAFFA WEALTH MANAGEMENT LLC
Q3 2023 Form 13-F
WASHINGTON, MARYLAND
CIK 0001631073
· CRD 136971
· SEC-registered investment adviser
$294.0M Reported Value Total
RAFFA INVESTMENT ADVISERS reports 475 total accounts under management (AUM). There are 421 discretionary accounts valued at $897,291,752, and 54 non-discretionary accounts valued at $132,352,930.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-10-27
Reported value
$294.0M
Quarter over quarter
-3.6%
Holdings
1,063
Top-10 concentration
70.1%
Key People
Form ADV owners & control persons
Dennis Patrick Gogarty
CHIEF COMPLIANCE OFFICER
Thomas J. Raffa
MEMBER
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13F Metrics
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Q3 2023 13F record
Q3 2023 13F filing summary
| Period of report | September 30, 2023 |
|---|---|
| Filed | July 27, 2026 |
| Form | 13F-HR |
| Reported value | $294.0M |
| Positions | 1,063 |
| Change in reported value | +0.3% |
| New positions | 10 |
| Exited positions | 18 |
| Position turnover | 2.6% |
| Top-10 concentration | 70.1% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Jul 27, 2026
|
1,591 | $793.3M |
|
Q1 2026 13F
Filed Jul 27, 2026
|
1,518 | $640.3M |
|
Q4 2025 13F
Filed Jul 27, 2026
|
1,163 | $650.1M |
|
Q3 2025 13F
Filed Jul 27, 2026
|
1,172 | $556.6M |
|
Q2 2025 13F
Filed Jul 27, 2026
|
1,105 | $500.0M |
|
Q1 2025 13F
Filed Jul 27, 2026
|
1,079 | $439.4M |
|
Q4 2024 13F
Filed Jul 27, 2026
|
1,113 | $429.7M |
|
Q3 2024 13F
Filed Jul 27, 2026
|
1,082 | $414.3M |
|
Q2 2024 13F
Filed Jul 27, 2026
|
1,151 | $352.4M |
|
Q1 2024 13F
Filed Jul 27, 2026
|
1,128 | $335.7M |
|
Q4 2023 13F
Filed Jul 27, 2026
|
1,060 | $329.3M |
|
Q3 2023 13F
Filed Jul 27, 2026
|
1,063 | $294.0M |
|
Q2 2023 13F
Filed Jul 27, 2026
|
1,071 | $293.2M |
|
Q1 2023 13F
Filed Jul 27, 2026
|
1,074 | $274.8M |
|
Q4 2022 13F
Filed Jul 27, 2026
|
1,066 | $244.3M |
|
Q3 2022 13F
Filed Jul 27, 2026
|
1,165 | $225.8M |
|
Q2 2022 13F
Filed Jul 27, 2026
|
1,131 | $219.6M |
|
Q1 2022 13F
Filed Jul 27, 2026
|
1,137 | $268.8M |
|
Q4 2021 13F
Filed Jul 27, 2026
|
1,127 | $305.5M |
|
Q3 2021 13F
Filed Jul 27, 2026
|
1,113 | $288.4M |
31 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q3 2023
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | BND Vanguard Total Bond Market ETF | $61.9M | 21.04% |
| 2 | VEA Vanguard FTSE Developed Markets ETF | $35.4M | 12.03% |
| 3 | VTI Vanguard Total Stock Market ETF | $27.4M | 9.32% |
| 4 | SGOV iShares 0-3 Month Treasury Bond ETF | $17.3M | 5.89% |
| 5 | IWB iShares Russell 1000 ETF | $17.0M | 5.77% |
| 6 | DFAC Dimensional U.S. Core Equity 2 ETF | $13.7M | 4.67% |
| 7 | VIG VANGUARD DIVIDEND APPRECIATION ETF | $10.2M | 3.47% |
| 8 | BSV Vanguard Short Term Bond Index ETF | $8.0M | 2.72% |
| 9 | GVI iShares Intermediate Gov/Credit Bond ETF | $7.6M | 2.59% |
| 10 | VWO Vanguard FTSE Emerging Markets ETF | $7.6M | 2.58% |
| 11 | BIV Vanguard Intermediate-Term Bond ETF | $4.8M | 1.63% |
| 12 | MDY SPDR S&P Midcap 400 ETF | $4.5M | 1.53% |
| 13 | AVUS Avantis US Equity ETF | $4.5M | 1.52% |
| 14 | IWD iShares Russell 1000 Value ETF | $4.5M | 1.52% |
| 15 | VUSB Vanguard Ultra-Short Bond ETF | $4.3M | 1.45% |
| 16 | ESGD iShares MSCI EAFE ESG Select ETF | $4.1M | 1.39% |
| 17 | IWV iShares Russell 3000 ETF | $3.6M | 1.23% |
| 18 | AVDE Avantis International Equity ETF | $3.6M | 1.22% |
| 19 | SPY SPDR S&P 500 ETF | $3.3M | 1.12% |
| 20 | RSP INVESCO S&P 500 EQUAL WEIGHT ETF | $3.3M | 1.11% |
Values as reported on the Q3 2023 Form 13F. Every position is in the holdings table below.