Shotwell Rutter Baer Inc

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Portfolio value: $180M
Positions: 39
Quarter ended: September 30, 2026
Filed: October 14, 2026

Reported portfolio value by quarter (12 quarters reported)

$182M $49.3M

Q4 23 Q3 24 Q2 25 Q1 26 Q3 26

$105M in Q4 2023 → $180M now. Hover for any quarter.

Holdings

As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
VI Vanguard Index Fds	15.4%	Trimmed 0.9%	74,198	$27.8M
AC American Centy ETF Tr	10.4%	Trimmed 1.6%	207,085	$18.7M
DE Dimensional ETF Trust	7.8%	Added 3.4%	273,971	$14M
VS Vanguard Scottsdale Fds	7.8%	Added 4.2%	178,159	$14M
VT Vanguard Tax-managed Fds	6.8%	Trimmed 0.5%	172,954	$12.2M
AC American Centy ETF Tr	6.7%	Trimmed 1.0%	102,546	$12.1M
AC American Centy ETF Tr	6.5%	Trimmed 0.5%	124,383	$11.7M
VS Vanguard Scottsdale Fds	5.4%	Added 3.0%	171,599	$9.72M
DE Dimensional ETF Trust	5.2%	Added 0.0%	216,693	$9.38M
DE Dimensional ETF Trust	4.1%	Added 0.5%	132,130	$7.38M
PE Pimco ETF Tr	3.8%	Added 2.3%	137,992	$6.86M
VM Vanguard Malvern Fds	3.1%	Added 1.3%	113,110	$5.57M
DE Dimensional ETF Trust	3.0%	Added 1.2%	196,633	$5.32M
JP J P Morgan Exchange Traded F	2.8%	Added 3.0%	104,220	$4.96M
VS Vanguard Scottsdale Fds	2.7%	Added 1.6%	62,559	$4.83M
IT Ishares Tr	0.9%	Added 1.3%	19,888	$1.68M
DE Dimensional ETF Trust	0.9%	Trimmed 3.9%	36,148	$1.61M
NE Nushares ETF Tr	0.8%	Trimmed 0.6%	26,328	$1.39M
IT Ishares Tr	0.7%	Trimmed 1.2%	19,705	$1.34M
IT Ishares Tr	0.5%	Trimmed 0.2%	5,297	$884K
IT Ishares Tr	0.5%	Added 4.8%	18,196	$830K
NE Nushares ETF Tr	0.4%	Trimmed 2.4%	14,065	$683K
I Ishares Inc	0.4%	Added 1.3%	12,027	$651K
IT Ishares Tr	0.3%	Trimmed 0.2%	5,788	$596K
Walmart Inc	0.3%	Unchanged	5,449	$566K
IT Ishares Tr	0.3%	Trimmed 3.8%	5,405	$546K
IT Ishares Tr	0.3%	Added 0.8%	21,750	$531K
VW Vanguard World Fd	0.3%	Added 0.9%	8,852	$527K
WM White Mtns Ins Group Ltd	0.3%	Unchanged	231	$463K
IB International Business Machs	0.2%	Unchanged	2,002	$440K
DE Dimensional ETF Trust	0.2%	Trimmed 2.8%	10,556	$391K
SS SPDR Series Trust	0.2%	Trimmed 4.1%	16,336	$383K
IT Ishares Tr	0.2%	Trimmed 4.1%	4,608	$365K
IT Ishares Tr	0.2%	Unchanged	466	$357K
SS SPDR Series Trust	0.2%	Added 7.8%	3,503	$314K
MP Marathon Pete Corp	0.1%	New	610	$241K
AC American Centy ETF Tr	0.1%	Trimmed 0.2%	2,193	$240K
IT Illinois Tool Wks Inc	0.1%	Unchanged	854	$220K
IT Ishares Tr	0.1%	Trimmed 5.7%	2,263	$219K

Timeline of changes

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.

Q3 2026

quarter ended September 30, 2026 · filed October 14, 2026

Company	Action	Shares changed	Value of change	% of portfolio
VS Vanguard Scottsdale Fds	Added	+7,193	+$563K	7.8%
DE Dimensional ETF Trust	Added	+9,067	+$464K	7.8%
AC American Centy ETF Tr	Trimmed	−3,422	−$309K	10.4%
VS Vanguard Scottsdale Fds	Added	+4,974	+$282K	5.4%
VI Vanguard Index Fds	Trimmed	−659	−$247K	15.4%
MP Marathon Pete Corp	New	+610	+$241K	0.1%
PE Pimco ETF Tr	Added	+3,162	+$157K	3.8%
JP J P Morgan Exchange Traded F	Added	+3,069	+$146K	2.8%
AC American Centy ETF Tr	Trimmed	−1,010	−$119K	6.7%
VS Vanguard Scottsdale Fds	Added	+992	+$76.6K	2.7%

Showing the 10 largest of 34 changes.

Q2 2026

quarter ended June 30, 2026 · filed July 21, 2026

Company	Action	Shares changed	Value of change	% of portfolio
AC American Centy ETF Tr	Trimmed	−6,075	−$554K	10.5%
AC American Centy ETF Tr	Trimmed	−5,153	−$497K	6.6%
JP J P Morgan Exchange Traded F	Added	+9,151	+$464K	2.8%
VS Vanguard Scottsdale Fds	Added	+4,752	+$393K	7.8%
DE Dimensional ETF Trust	Trimmed	−6,634	−$358K	3.9%
AC American Centy ETF Tr	Trimmed	−2,763	−$345K	7.1%
VI Vanguard Index Fds	Trimmed	−868	−$321K	15.2%
DE Dimensional ETF Trust	Trimmed	−7,785	−$312K	4.8%
VT Vanguard Tax-managed Fds	Trimmed	−3,916	−$279K	6.8%
VS Vanguard Scottsdale Fds	Added	+3,412	+$270K	2.7%

Showing the 10 largest of 33 changes.

Q1 2026

quarter ended March 31, 2026 · filed April 22, 2026

Company	Action	Shares changed	Value of change	% of portfolio
JP J P Morgan Exchange Traded F	Added	+36,521	+$1.83M	2.7%
VI Vanguard Index Fds	Added	+4,465	+$1.43M	14.3%
PE Pimco ETF Tr	Trimmed	−23,884	−$1.25M	4.3%
VS Vanguard Scottsdale Fds	Added	+6,336	+$524K	8.1%
DE Dimensional ETF Trust	Added	+9,536	+$500K	8.1%
VS Vanguard Scottsdale Fds	Added	+7,464	+$444K	5.7%
VM Vanguard Malvern Fds	Added	+5,309	+$265K	3.2%
DE Dimensional ETF Trust	Added	+9,673	+$257K	3.0%
VS Vanguard Scottsdale Fds	Added	+2,916	+$231K	2.7%
AC American Centy ETF Tr	Added	+2,807	+$226K	10.3%

Showing the 10 largest of 34 changes.

Q4 2025

quarter ended December 31, 2025 · filed January 12, 2026

Company	Action	Shares changed	Value of change	% of portfolio
JP J P Morgan Exchange Traded F	New	+55,479	+$2.81M	1.7%
DE Dimensional ETF Trust	Added	+19,501	+$1.03M	8.0%
SS SPDR Series Trust	Trimmed	−40,561	−$1.02M	0.3%
VS Vanguard Scottsdale Fds	Added	+9,324	+$781K	8.0%
VM Vanguard Malvern Fds	Added	+12,246	+$606K	3.1%
VS Vanguard Scottsdale Fds	Added	+9,852	+$591K	5.6%
VI Vanguard Index Fds	Added	+1,484	+$505K	14.6%
AC American Centy ETF Tr	Added	+5,005	+$393K	10.1%
AC American Centy ETF Tr	Added	+3,263	+$350K	6.7%
DE Dimensional ETF Trust	Added	+10,636	+$284K	3.0%

Showing the 10 largest of 34 changes.

Q3 2025

quarter ended September 30, 2025 · filed October 10, 2025

Company	Action	Shares changed	Value of change	% of portfolio
PE Pimco ETF Tr	Added	+7,431	+$389K	5.6%
DE Dimensional ETF Trust	Added	+6,663	+$360K	8.2%
VS Vanguard Scottsdale Fds	Added	+4,008	+$336K	8.1%
VI Vanguard Index Fds	Trimmed	−888	−$295K	14.9%
AC American Centy ETF Tr	Trimmed	−3,432	−$263K	6.3%
DE Dimensional ETF Trust	Trimmed	−6,200	−$223K	5.2%
VS Vanguard Scottsdale Fds	Added	+3,695	+$221K	5.6%
DE Dimensional ETF Trust	Trimmed	−3,600	−$167K	4.1%
IT Ishares Tr	Added	+1,936	+$149K	1.0%
NE Nushares ETF Tr	Added	+3,239	+$142K	0.8%

Showing the 10 largest of 30 changes.

Q2 2025

quarter ended June 30, 2025 · filed July 07, 2025

Company	Action	Shares changed	Value of change	% of portfolio
DE Dimensional ETF Trust	New	+227,258	+$12.1M	8.3%
PE Pimco ETF Tr	Added	+55,233	+$2.83M	5.6%
AC American Centy ETF Tr	Added	+5,216	+$496K	6.5%
VS Vanguard Scottsdale Fds	Added	+4,353	+$359K	8.2%
VI Vanguard Index Fds	Added	+1,003	+$309K	14.8%
AC American Centy ETF Tr	Added	+3,893	+$272K	9.8%
IT Illinois Tool Wks Inc	New	+854	+$221K	0.2%
VS Vanguard Scottsdale Fds	Added	+3,648	+$216K	5.7%
AC American Centy ETF Tr	New	+2,531	+$203K	0.1%
IT Ishares Tr	New	+2,399	+$200K	0.1%

Showing the 10 largest of 33 changes.

Q1 2025

quarter ended March 31, 2025 · filed April 09, 2025

Company	Action	Shares changed	Value of change	% of portfolio
IT Illinois Tool Wks Inc	Exited	−854	−$209K	—
AC American Centy ETF Tr	Added	+2,258	+$176K	6.6%
VS Vanguard Scottsdale Fds	Added	+1,776	+$145K	10.3%
VS Vanguard Scottsdale Fds	Added	+2,325	+$139K	7.3%
VM Vanguard Malvern Fds	Added	+1,327	+$66.2K	3.9%
DE Dimensional ETF Trust	Added	+2,531	+$62.4K	3.6%
IT Ishares Tr	Trimmed	−556	−$61.3K	0.5%
IT Ishares Tr	Added	+1,132	+$53.4K	0.7%
IT Ishares Tr	Added	+1,095	+$46K	0.7%
VI Vanguard Index Fds	Added	+185	+$46K	15.3%

Showing the 10 largest of 31 changes.

Q4 2024

quarter ended December 31, 2024 · filed January 14, 2025

Company	Action	Shares changed	Value of change	% of portfolio
VS Vanguard Scottsdale Fds	Added	+5,514	+$438K	9.4%
VI Vanguard Index Fds	Trimmed	−1,438	−$413K	16.8%
VT Vanguard Tax-managed Fds	Added	+7,273	+$346K	6.9%
VS Vanguard Scottsdale Fds	Added	+4,727	+$272K	6.6%
PE Pimco ETF Tr	Added	+4,324	+$222K	4.5%
AC American Centy ETF Tr	Added	+2,703	+$156K	6.3%
DE Dimensional ETF Trust	Added	+5,156	+$135K	5.2%
VM Vanguard Malvern Fds	Added	+2,657	+$129K	3.6%
DE Dimensional ETF Trust	Added	+3,345	+$118K	4.1%
VS Vanguard Scottsdale Fds	Added	+1,331	+$104K	3.2%

Showing the 10 largest of 29 changes.

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