JMG Financial Group, Ltd.

RIA/Wealth

JMG Financial Group, Ltd. is a RIA/Wealth based in Downers Grove, IL led by Anthony David Cecchini, reporting $6.4B in AUM as of Q3 2025 with 99% ETF concentration, 77% concentrated in top 10 holdings, 24% allocation to VOO, and minimal technology exposure.

CEOAnthony David Cecchini

Portfolio Value: $3.5B
Positions: 121
Top Holding: VOO at 23.62%
Last Reported: Q3 2025

Address2001 Butterfield Road, Suite 1400, Downers Grove, IL, 60515, United States

Top Holdings

Largest long holdings in JMG Financial Group, Ltd.'s portfolio (77.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Vanguard S&P 500 ETF VOO	ETF ETF	$829.7M	23.62%	-$2.4M Sold	— 1.4M shares	≤ Q2 2013 Held for 12y 5m+
2 Vanguard Mid-Cap Fund VO	ETF ETF	$390.4M	11.12%	+$963.5K Bought	— 1.3M shares	≤ Q2 2013 Held for 12y 5m+
3 Vanguard FTSE Developed Markets VEA	ETF ETF	$373.1M	10.62%	-$3.3M Sold	— 6.2M shares	Q4 2014 Held for 10y 11m
4 SCHX Schwab U.S. Large-Cap ETF SCHX	ETF ETF	$231.4M	6.59%	-$7.8M Sold	— 8.8M shares	≤ Q2 2013 Held for 12y 5m+
5 Dimensional US Small Cap Value DFSV	ETF ETF	$178.7M	5.09%	+$5.8M Bought	— 5.6M shares	Q4 2022 Held for 2y 11m
6 SPDR S&P 500 ETF Trust SPY	ETF ETF	$174.0M	4.96%	-$3.6M Sold	— 261.3K shares	≤ Q2 2013 Held for 12y 5m+
7 Vanguard FTSE Emerging Markets VWO	ETF ETF	$156.2M	4.45%	-$292.2K Sold	— 2.9M shares	≤ Q2 2013 Held for 12y 5m+
8 DFGR Dimensional Global Real Estate DFGR	ETF ETF	$146.3M	4.16%	+$9.8M Bought	— 5.4M shares	Q1 2023 Held for 2y 8m
9 Dimensional International Core Equity 2 DFIC	ETF ETF	$140.7M	4.01%	+$4.4M Bought	— 4.3M shares	Q4 2022 Held for 2y 11m
10 Schwab International Equity SCHF	ETF ETF	$100.7M	2.87%	-$1.8M Sold	— 4.3M shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in JMG Financial Group, Ltd.'s latest filing

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Market Value

$3.5B

Prior: $3.3B

Q/Q Change

+6.47%

+$213.5M

Net Flows % of MV

-0.165%

Turnover Ratio

0.882%

New Purchases

3 stocks

$759.5K

Added To

38 stocks

+$27.0M

Sold Out Of

7 stocks

$2.3M

Reduced Holdings

47 stocks

-$31.2M

Increased Positions

Position	Shares Δ	Change
1 WisdomTree U.S. LargeCap Dividend DLN	New	0 → 3.9K +$339.6K
2 Vanguard S&P Mid-Cap 400 Value IVOV	New	0 → 2.1K +$210.2K
3 SPDR Portfolio S&P 500 Growth ETF SPYG	New	0 → 2.0K +$209.6K
4 Schwab US Dividend Equity SCHD	+72.94%	40.1K → 69.3K +$797.9K
5 iShares Bitcoin Trust IBIT	+66.45%	5.0K → 8.3K +$216.1K

Decreased Positions

Position	Shares Δ	Change
1 Netflix NFLX	Sold	578.0 → 0 −$774.0K
2 JPMorgan Chase JPM	Sold	1.3K → 0 −$388.8K
3 Royal Gold RGLD	Sold	1.6K → 0 −$281.2K
4 Costco Wholesale COST	Sold	228.0 → 0 −$226.1K
5 Palo Alto Networks, Inc. PANW	Sold	1.1K → 0 −$220.2K