RAFFA WEALTH MANAGEMENT LLC
Q3 2025 Form 13-F
WASHINGTON, MARYLAND
CIK 0001631073
· CRD 136971
· SEC-registered investment adviser
$556.6M Reported Value Total
RAFFA INVESTMENT ADVISERS reports 708 total accounts under management (AUM). There are 653 discretionary accounts valued at $1,512,564,172, and 55 non-discretionary accounts valued at $185,551,297.
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
$556.6M
Quarter over quarter
+4.7%
Holdings
1,172
Top-10 concentration
69.1%
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 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | July 27, 2026 |
| Form | 13F-HR |
| Reported value | $556.6M |
| Positions | 1,172 |
| Change in reported value | +11.3% |
| New positions | 111 |
| Exited positions | 44 |
| Position turnover | 12.8% |
| Top-10 concentration | 69.1% |
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 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | BND Vanguard Total Bond Market ETF | $71.6M | 12.86% |
| 2 | SGOV iShares 0-3 Month Treasury Bond ETF | $64.0M | 11.5% |
| 3 | VTI Vanguard Total Stock Market ETF | $55.2M | 9.91% |
| 4 | VEA Vanguard FTSE Developed Markets ETF | $48.4M | 8.7% |
| 5 | AVUS Avantis US Equity ETF | $40.2M | 7.22% |
| 6 | DFAC Dimensional U.S. Core Equity 2 ETF | $30.5M | 5.49% |
| 7 | FQAL Fidelity Quality Factor ETF | $24.4M | 4.39% |
| 8 | VUSB Vanguard Ultra-Short Bond ETF | $24.3M | 4.37% |
| 9 | VWO Vanguard FTSE Emerging Markets ETF | $13.0M | 2.34% |
| 10 | AVDE Avantis International Equity ETF | $12.9M | 2.31% |
| 11 | DUHP Dimensional US High Profitability ETF | $10.2M | 1.83% |
| 12 | IWB iShares Russell 1000 ETF | $8.3M | 1.49% |
| 13 | ESGV Vanguard ESG U.S. Stock ETF | $6.5M | 1.16% |
| 14 | BIV Vanguard Intermediate-Term Bond ETF | $6.3M | 1.14% |
| 15 | VIG VANGUARD DIVIDEND APPRECIATION ETF | $6.2M | 1.11% |
| 16 | VOO Vanguard 500 Index Fund ETF | $6.1M | 1.09% |
| 17 | BSV Vanguard Short Term Bond Index ETF | $6.0M | 1.08% |
| 18 | GVI iShares Intermediate Gov/Credit Bond ETF | $6.0M | 1.08% |
| 19 | ESGD iShares MSCI EAFE ESG Select ETF | $5.7M | 1.02% |
| 20 | SPY SPDR S&P 500 ETF | $4.8M | 0.87% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.