# EDGAR Filing Document

**Accession Number:** 0001747799
**File Stem:** 0001765380-23-000018
**Filing Date:** 2023-2
**Character Count:** 12758
**Document Hash:** 1bd39e2ea9d4fefc3a33489c16e58f95
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001765380-23-000018.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001765380-23-000018

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brio Consultants, LLC
- **CENTRAL INDEX KEY:** 0001747799
- **IRS NUMBER:** 800472324
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19018
- **FILM NUMBER:** 23593808

**BUSINESS ADDRESS:**
- **STREET 1:** 19 SUTTER STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104
- **BUSINESS PHONE:** (415) 623-2450

**MAIL ADDRESS:**
- **STREET 1:** 19 SUTTER STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Brio Consultants LLC<br>**Address:** 19 SUTTER STREET<br>SAN FRANCISCO, CA 94104

**Form 13F File Number:** 028-19018

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Madeline Hedges<br>**Title:** Chief Compliance Officer<br>**Phone:** 5138325467

**Signature, Place, and Date of Signing:**

Madeline Hedges  Cincinnati, OH  02-07-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 89

**Form 13F Information Table Value Total:** $501947473

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 555849 | 6300 | SH |  | SOLE | 0 | 0 | 0 | 6300 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 803450 | 9055 | SH |  | SOLE | 0 | 0 | 0 | 9055 |
| AMAZON COM INC | COM | 023135106 |  | 310296 | 3694 | SH |  | SOLE | 0 | 0 | 0 | 3694 |
| AMERICAN CENTY ETF TR | US EQT ETF | 025072885 |  | 6595510 | 96979 | SH |  | SOLE | 0 | 0 | 0 | 96979 |
| APPLE INC | COM | 037833100 |  | 9142256 | 70363 | SH |  | SOLE | 0 | 0 | 0 | 70363 |
| BANK AMERICA CORP | COM | 060505104 |  | 216295 | 6531 | SH |  | SOLE | 0 | 0 | 0 | 6531 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 357397 | 1157 | SH |  | SOLE | 0 | 0 | 0 | 1157 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 701887 | 20071 | SH |  | SOLE | 0 | 0 | 0 | 20071 |
| DBX ETF TR | XTRCKR MSCI US | 233051150 |  | 2534860 | 72746 | SH |  | SOLE | 0 | 0 | 0 | 72746 |
| DBX ETF TR | XTKR EMGRIN MKTS | 233051192 |  | 822814 | 32192 | SH |  | SOLE | 0 | 0 | 0 | 32192 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 4864164 | 12186 | SH |  | SOLE | 0 | 0 | 0 | 12186 |
| FIRST TR EXCH TRADED FD III | LNG/SHT EQUITY | 33739P103 |  | 4807553 | 98374 | SH |  | SOLE | 0 | 0 | 0 | 98374 |
| FLEXSHARES TR | STOXX GLOBR INF | 33939L795 |  | 2224366 | 44125 | SH |  | SOLE | 0 | 0 | 0 | 44125 |
| FLEXSHARES TR | MORNSTAR UPSTR | 33939L407 |  | 8681507 | 199713 | SH |  | SOLE | 0 | 0 | 0 | 199713 |
| GOLDMAN SACHS ETF TR | ACES ULTRA SHR | 381430230 |  | 4509668 | 91003 | SH |  | SOLE | 0 | 0 | 0 | 91003 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA INT | 381430107 |  | 19218725 | 667781 | SH |  | SOLE | 0 | 0 | 0 | 667781 |
| HARTFORD FDS EXCHANGE TRADED | TOTAL RTRN ETF | 41653L305 |  | 9362759 | 283376 | SH |  | SOLE | 0 | 0 | 0 | 283376 |
| INDEXIQ ETF TR | HEDGE MLTI ETF | 45409B107 |  | 18648327 | 655247 | SH |  | SOLE | 0 | 0 | 0 | 655247 |
| INVESCO ACTIVELY MANAGED ETF | TOTAL RETURN | 46090A804 |  | 25572788 | 550307 | SH |  | SOLE | 0 | 0 | 0 | 550307 |
| INVESCO EXCH TRADED FD TR II | CALIF AMT MUN | 46138E206 |  | 332470 | 13773 | SH |  | SOLE | 0 | 0 | 0 | 13773 |
| INVESCO EXCH TRADED FD TR II | S EMRNG MKTS | 46138E297 |  | 4662315 | 202621 | SH |  | SOLE | 0 | 0 | 0 | 202621 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 276911 | 1040 | SH |  | SOLE | 0 | 0 | 0 | 1040 |
| ISHARES INC | MSCI EMERG MRKT | 464286533 |  | 13977933 | 263486 | SH |  | SOLE | 0 | 0 | 0 | 263486 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 5517266 | 67680 | SH |  | SOLE | 0 | 0 | 0 | 67680 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 18051068 | 222386 | SH |  | SOLE | 0 | 0 | 0 | 222386 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 2245879 | 23731 | SH |  | SOLE | 0 | 0 | 0 | 23731 |
| ISHARES TR | ESG AWRE 1 5 YR | 46435G243 |  | 1082717 | 45550 | SH |  | SOLE | 0 | 0 | 0 | 45550 |
| ISHARES TR | MSCI KLD400 SOC | 464288570 |  | 2652464 | 36948 | SH |  | SOLE | 0 | 0 | 0 | 36948 |
| ISHARES TR | RUSEL 2500 ETF | 46435G268 |  | 16748346 | 315174 | SH |  | SOLE | 0 | 0 | 0 | 315174 |
| ISHARES TR | CALIF MUN BD ETF | 464288356 |  | 26632864 | 474655 | SH |  | SOLE | 0 | 0 | 0 | 474655 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 1208551 | 18384 | SH |  | SOLE | 0 | 0 | 0 | 18384 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 1326746 | 28386 | SH |  | SOLE | 0 | 0 | 0 | 28386 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 4421030 | 41898 | SH |  | SOLE | 0 | 0 | 0 | 41898 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 16259957 | 155941 | SH |  | SOLE | 0 | 0 | 0 | 155941 |
| ISHARES TR | MSCI GBL SUS DEV | 46435G532 |  | 419554 | 5317 | SH |  | SOLE | 0 | 0 | 0 | 5317 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 331649 | 5669 | SH |  | SOLE | 0 | 0 | 0 | 5669 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 900029 | 4201 | SH |  | SOLE | 0 | 0 | 0 | 4201 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 5009905 | 81277 | SH |  | SOLE | 0 | 0 | 0 | 81277 |
| ISHARES TR | CORE 1 5 YR USD | 46432F859 |  | 320372 | 6899 | SH |  | SOLE | 0 | 0 | 0 | 6899 |
| ISHARES TR | USD GRN BOND ETF | 46435U440 |  | 367696 | 7999 | SH |  | SOLE | 0 | 0 | 0 | 7999 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 2534637 | 50693 | SH |  | SOLE | 0 | 0 | 0 | 50693 |
| ISHARES TR | CORE INTL AGGR | 46435G672 |  | 10544134 | 221748 | SH |  | SOLE | 0 | 0 | 0 | 221748 |
| ISHARES TR | INTL EQTY FACTOR | 46434V274 |  | 4817210 | 195815 | SH |  | SOLE | 0 | 0 | 0 | 195815 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 3329696 | 50727 | SH |  | SOLE | 0 | 0 | 0 | 50727 |
| ISHARES TR | CORE S ETF | 464287200 |  | 296492 | 772 | SH |  | SOLE | 0 | 0 | 0 | 772 |
| ISHARES TR | MSCI USA ESG SLC | 464288802 |  | 221432 | 2690 | SH |  | SOLE | 0 | 0 | 0 | 2690 |
| ISHARES TR | US INFRASTRUC | 46435U713 |  | 8617333 | 237654 | SH |  | SOLE | 0 | 0 | 0 | 237654 |
| ISHARES TR | GLB INFRASTR ETF | 464288372 |  | 1029815 | 22465 | SH |  | SOLE | 0 | 0 | 0 | 22465 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 315819 | 6300 | SH |  | SOLE | 0 | 0 | 0 | 6300 |
| MICROSOFT CORP | COM | 594918104 |  | 418575 | 1745 | SH |  | SOLE | 0 | 0 | 0 | 1745 |
| NUSHARES ETF TR | NUVEEN ESG SMLCP | 67092P607 |  | 914354 | 26751 | SH |  | SOLE | 0 | 0 | 0 | 26751 |
| NUSHARES ETF TR | NUVEEN ESG INTL | 67092P805 |  | 1151004 | 44613 | SH |  | SOLE | 0 | 0 | 0 | 44613 |
| PACER FDS TR | US CASH COWS 100 | 69374H881 |  | 31516341 | 681434 | SH |  | SOLE | 0 | 0 | 0 | 681434 |
| PEPSICO INC | COM | 713448108 |  | 289056 | 1600 | SH |  | SOLE | 0 | 0 | 0 | 1600 |
| PURE STORAGE INC | CL A | 74624M102 |  | 201396 | 7526 | SH |  | SOLE | 0 | 0 | 0 | 7526 |
| SCHWAB STRATEGIC TR | US REIT ETF | 808524847 |  | 567712 | 29430 | SH |  | SOLE | 0 | 0 | 0 | 29430 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 217162 | 6742 | SH |  | SOLE | 0 | 0 | 0 | 6742 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 31656509 | 569772 | SH |  | SOLE | 0 | 0 | 0 | 569772 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 31557488 | 417759 | SH |  | SOLE | 0 | 0 | 0 | 417759 |
| SELECT SECTOR SPDR TR | RL EST SEL SEC | 81369Y860 |  | 7430354 | 201201 | SH |  | SOLE | 0 | 0 | 0 | 201201 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 313745 | 1849 | SH |  | SOLE | 0 | 0 | 0 | 1849 |
| SPDR INDEX SHS FDS | S NORTH AMER | 78463X152 |  | 1291267 | 23815 | SH |  | SOLE | 0 | 0 | 0 | 23815 |
| SPDR INDEX SHS FDS | MSCI EAFE STRTGC | 78463X434 |  | 3460978 | 53993 | SH |  | SOLE | 0 | 0 | 0 | 53993 |
| SPDR INDEX SHS FDS | GLB NAT RESRCE | 78463X541 |  | 626131 | 10981 | SH |  | SOLE | 0 | 0 | 0 | 10981 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 19631690 | 661222 | SH |  | SOLE | 0 | 0 | 0 | 661222 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 385107 | 1007 | SH |  | SOLE | 0 | 0 | 0 | 1007 |
| SPDR SER TR | PRTFLO S HI | 78468R788 |  | 1527997 | 38605 | SH |  | SOLE | 0 | 0 | 0 | 38605 |
| SPDR SER TR | PORTFOLIO S | 78464A854 |  | 419759 | 9332 | SH |  | SOLE | 0 | 0 | 0 | 9332 |
| SPDR SER TR | PRTFLO S GW | 78464A409 |  | 550715 | 10869 | SH |  | SOLE | 0 | 0 | 0 | 10869 |
| SPDR SER TR | PORTFOLIO S | 78468R853 |  | 711497 | 19245 | SH |  | SOLE | 0 | 0 | 0 | 19245 |
| SPDR SER TR | NUVEEN BLOOMBERG | 78464A284 |  | 253563 | 5178 | SH |  | SOLE | 0 | 0 | 0 | 5178 |
| SPDR SER TR | PORTFOLIO S | 78464A847 |  | 2591886 | 60986 | SH |  | SOLE | 0 | 0 | 0 | 60986 |
| SPDR SER TR | BLOOMBERG 1 10 Y | 78468R861 |  | 10925383 | 592162 | SH |  | SOLE | 0 | 0 | 0 | 592162 |
| SPDR SER TR | PRTFLO S VL | 78464A508 |  | 433745 | 11153 | SH |  | SOLE | 0 | 0 | 0 | 11153 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 251055 | 2007 | SH |  | SOLE | 0 | 0 | 0 | 2007 |
| TESLA INC | COM | 88160R101 |  | 227637 | 1848 | SH |  | SOLE | 0 | 0 | 0 | 1848 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 35627152 | 479375 | SH |  | SOLE | 0 | 0 | 0 | 479375 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 249940 | 1881 | SH |  | SOLE | 0 | 0 | 0 | 1881 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 3449574 | 9818 | SH |  | SOLE | 0 | 0 | 0 | 9818 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 656124 | 3575 | SH |  | SOLE | 0 | 0 | 0 | 3575 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 3622583 | 17774 | SH |  | SOLE | 0 | 0 | 0 | 17774 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 3866589 | 46879 | SH |  | SOLE | 0 | 0 | 0 | 46879 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 4967413 | 23309 | SH |  | SOLE | 0 | 0 | 0 | 23309 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 1949271 | 39387 | SH |  | SOLE | 0 | 0 | 0 | 39387 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 11079643 | 72964 | SH |  | SOLE | 0 | 0 | 0 | 72964 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 4875207 | 94262 | SH |  | SOLE | 0 | 0 | 0 | 94262 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 439774 | 10478 | SH |  | SOLE | 0 | 0 | 0 | 10478 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 7050361 | 65154 | SH |  | SOLE | 0 | 0 | 0 | 65154 |
| VISA INC | COM CL A | 92826C839 |  | 208975 | 1006 | SH |  | SOLE | 0 | 0 | 0 | 1006 |

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