# EDGAR Filing Document

**Accession Number:** 0001634212
**File Stem:** 0000905729-23-000026
**Filing Date:** 2023-1
**Character Count:** 16689
**Document Hash:** f5854d1c54abe3fdd7535724e2231558
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000905729-23-000026.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0000905729-23-000026

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**EFFECTIVENESS DATE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Diversified Portfolios, Inc.
- **CENTRAL INDEX KEY:** 0001634212
- **IRS NUMBER:** 383143481
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1215

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16822
- **FILM NUMBER:** 23547091

**BUSINESS ADDRESS:**
- **STREET 1:** 39520 WOODWARD AVE, STE 200
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48304
- **BUSINESS PHONE:** 248-644-3030

**MAIL ADDRESS:**
- **STREET 1:** 39520 WOODWARD AVE, STE 200
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48304

### 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:** Diversified Portfolios Inc.<br>**Address:** 39520 Woodward Ave Ste 200<br>Bloomfield Hills, MI 48304

**Form 13F File Number:** 028-16822

**CRD Number (if applicable):** 000108942

**SEC File Number (if applicable):** 801-56371

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:** Robert E. Toal<br>**Title:** President<br>**Phone:** 248-644-3030

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

/s/ Robert E. Toal  Bloomfield Hills, MI  01-23-2023<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:** 130

**Form 13F Information Table Value Total:** $436279936

      (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 |
| Berkshire Hathaway Inc Del | COM | 084670108 |  | 1406133 | 3 | SH |  | SOLE |  | 0 | 0 | 3 |
| Abbott Laboratories | COM | 002824100 |  | 382399 | 3483 | SH |  | SOLE |  | 0 | 0 | 3483 |
| Abbvie Inc | COM | 00287Y109 |  | 1484873 | 9188 | SH |  | SOLE |  | 0 | 0 | 9188 |
| Accenture Plc Cl A | COM | G1151C101 |  | 609463 | 2284 | SH |  | SOLE |  | 0 | 0 | 2284 |
| Amazon Com Inc | COM | 023135106 |  | 640920 | 7630 | SH |  | SOLE |  | 0 | 0 | 7630 |
| Apple Computer Inc | COM | 037833100 |  | 5928643 | 45630 | SH |  | SOLE |  | 0 | 0 | 45630 |
| Arrow Financial Corp | COM | 042744102 |  | 412549 | 12170 | SH |  | SOLE |  | 0 | 0 | 12170 |
| Avantis Emerging Markets EQ ETF | ETF | 025072604 |  | 1164638 | 23085 | SH |  | SOLE |  | 0 | 0 | 23085 |
| Avantis International Equity ETF | ETF | 025072703 |  | 15130481 | 284461 | SH |  | SOLE |  | 0 | 0 | 284461 |
| Avantis Real Estate ETF | ETF | 025072356 |  | 555778 | 13516 | SH |  | SOLE |  | 0 | 0 | 13516 |
| Avantis Responsible International Equity ETF | COM | 025072299 |  | 537728 | 11424 | SH |  | SOLE |  | 0 | 0 | 11424 |
| Avantis Responsible US Equity ETF | ETF | 025072281 |  | 1098217 | 24010 | SH |  | SOLE |  | 0 | 0 | 24010 |
| Avantis U.S. Equity ETF | ETF | 025072885 |  | 470357 | 6916 | SH |  | SOLE |  | 0 | 0 | 6916 |
| Avantis US Small Cap Value ETF | ETF | 025072877 |  | 628673 | 8437 | SH |  | SOLE |  | 0 | 0 | 8437 |
| Berkshire Hathaway B New | COM | 084670702 |  | 575790 | 1864 | SH |  | SOLE |  | 0 | 0 | 1864 |
| BGI i Shares/TIPS | ETF | 464287176 |  | 804580 | 7559 | SH |  | SOLE |  | 0 | 0 | 7559 |
| Blackstone Group Lp | ETF | 09260D107 |  | 304230 | 4101 | SH |  | SOLE |  | 0 | 0 | 4101 |
| Bristol-Myers Squibb Co | COM | 110122108 |  | 316940 | 4405 | SH |  | SOLE |  | 0 | 0 | 4405 |
| C S X Corp | COM | 126408103 |  | 334584 | 10800 | SH |  | SOLE |  | 0 | 0 | 10800 |
| Coca Cola Company | COM | 191216100 |  | 1014174 | 15944 | SH |  | SOLE |  | 0 | 0 | 15944 |
| Comcast Corp New Cl A | COM | 20030N101 |  | 175444 | 5017 | SH |  | SOLE |  | 0 | 0 | 5017 |
| Consolidated Edison Inc | COM | 209115104 |  | 325007 | 3410 | SH |  | SOLE |  | 0 | 0 | 3410 |
| Costco Whsl Corp New | COM | 22160K105 |  | 224142 | 491 | SH |  | SOLE |  | 0 | 0 | 491 |
| Crown Castle Intl Corp | COM | 22822V101 |  | 298408 | 2200 | SH |  | SOLE |  | 0 | 0 | 2200 |
| Deere  Co | COM | 244199105 |  | 350726 | 818 | SH |  | SOLE |  | 0 | 0 | 818 |
| DFA Core Emerging Mkt ETF | ETF | 25434V302 |  | 14435069 | 657634 | SH |  | SOLE |  | 0 | 0 | 657634 |
| DFA Int'l Core Equity ETF | ETF | 25434V203 |  | 8039217 | 321055 | SH |  | SOLE |  | 0 | 0 | 321055 |
| DFA Tax Managed Intl | ETF | 25434V807 |  | 1696533 | 55807 | SH |  | SOLE |  | 0 | 0 | 55807 |
| DFA Tax-Managed US Marketwide Value II | ETF | 25434V724 |  | 11812514 | 352823 | SH |  | SOLE |  | 0 | 0 | 352823 |
| DFA U.S. Equity ETF | ETF | 25434V401 |  | 538309 | 12937 | SH |  | SOLE |  | 0 | 0 | 12937 |
| DFA U.S. Small Cap (TM) | ETF | 25434V500 |  | 290737 | 5684 | SH |  | SOLE |  | 0 | 0 | 5684 |
| DFA U.S. Small Cap Value (TM) | ETF | 25434V609 |  | 3611502 | 82173 | SH |  | SOLE |  | 0 | 0 | 82173 |
| DFA US Core Equity  ETF | ETF | 25434V104 |  | 5387545 | 199391 | SH |  | SOLE |  | 0 | 0 | 199391 |
| Dimensional National Munpl Bond ETF | ETF | 25434V849 |  | 441717 | 9239 | SH |  | SOLE |  | 0 | 0 | 9239 |
| Dimensional US Small Cap Value ETF | ETF | 25434V815 |  | 978043 | 39485 | SH |  | SOLE |  | 0 | 0 | 39485 |
| DTE Energy Company | COM | 233331107 |  | 396594 | 3374 | SH |  | SOLE |  | 0 | 0 | 3374 |
| Duke Energy Corporation | COM | 26441C204 |  | 350473 | 3403 | SH |  | SOLE |  | 0 | 0 | 3403 |
| Enbridge Inc | COM | 29250N105 |  | 429826 | 10993 | SH |  | SOLE |  | 0 | 0 | 10993 |
| Exxon Mobil Corporation | COM | 30231G102 |  | 1480029 | 13418 | SH |  | SOLE |  | 0 | 0 | 13418 |
| First Merchants Corp | COM | 320817109 |  | 1348614 | 32805 | SH |  | SOLE |  | 0 | 0 | 32805 |
| Google Inc. Class A | COM | 02079K305 |  | 459061 | 5203 | SH |  | SOLE |  | 0 | 0 | 5203 |
| Intuit Inc | COM | 461202103 |  | 237243 | 610 | SH |  | SOLE |  | 0 | 0 | 610 |
| Invesco QQQ Trust | ETF | 46090E103 |  | 992230 | 3726 | SH |  | SOLE |  | 0 | 0 | 3726 |
| iShares 1-3 Year Treasury Bond ETF | ETF | 464287457 |  | 847442 | 10440 | SH |  | SOLE |  | 0 | 0 | 10440 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF | ETF | 464288638 |  | 2042288 | 41250 | SH |  | SOLE |  | 0 | 0 | 41250 |
| iShares Aggregate Bond Fd | ETF | 464287226 |  | 4297440 | 44308 | SH |  | SOLE |  | 0 | 0 | 44308 |
| iShares C Real Estate | ETF | 464287564 |  | 368634 | 6722 | SH |  | SOLE |  | 0 | 0 | 6722 |
| iShares Core MSCI Emerging Markets ETF | ETF | 46434G103 |  | 953801 | 20424 | SH |  | SOLE |  | 0 | 0 | 20424 |
| iShares Core S 500 ETF | ETF | 464287200 |  | 11270113 | 29333 | SH |  | SOLE |  | 0 | 0 | 29333 |
| iShares Core S Small-Cap ETF | ETF | 464287804 |  | 1271758 | 13438 | SH |  | SOLE |  | 0 | 0 | 13438 |
| iShares Core S Total US Stock Mkt ETF | ETF | 464287150 |  | 509971 | 6014 | SH |  | SOLE |  | 0 | 0 | 6014 |
| iShares ESG 1-5 Year USD Corporate Bond ETF | ETF | 46435G243 |  | 306514 | 12895 | SH |  | SOLE |  | 0 | 0 | 12895 |
| iShares ESG U.S. Aggregate Bond ETF | ETF | 46435U549 |  | 631130 | 13503 | SH |  | SOLE |  | 0 | 0 | 13503 |
| iShares Global REIT ETF | ETF | 46434V647 |  | 6935975 | 305415 | SH |  | SOLE |  | 0 | 0 | 305415 |
| iShares Gold | ETF | 464285204 |  | 276651 | 7998 | SH |  | SOLE |  | 0 | 0 | 7998 |
| iShares MSCI EAFE ETF | ETF | 464287465 |  | 1062090 | 16181 | SH |  | SOLE |  | 0 | 0 | 16181 |
| iShares MSCI Emerging Markets ETF | ETF | 464287234 |  | 320103 | 8446 | SH |  | SOLE |  | 0 | 0 | 8446 |
| iShares National Muni Bond ETF | ETF | 464288414 |  | 992521 | 9406 | SH |  | SOLE |  | 0 | 0 | 9406 |
| iShares Russell 1000 ETF | ETF | 464287622 |  | 803684 | 3818 | SH |  | SOLE |  | 0 | 0 | 3818 |
| iShares S 500 Growth ETF | ETF | 464287309 |  | 2196945 | 37555 | SH |  | SOLE |  | 0 | 0 | 37555 |
| iShares S 500 Value ETF | ETF | 464287408 |  | 1102387 | 7599 | SH |  | SOLE |  | 0 | 0 | 7599 |
| iShares Short-Term National Muni Bond ETF | ETF | 464288158 |  | 2053910 | 19698 | SH |  | SOLE |  | 0 | 0 | 19698 |
| iShares Ultra Short-Term Bond ETF | ETF | 46434V878 |  | 10954675 | 218918 | SH |  | SOLE |  | 0 | 0 | 218918 |
| Johnson  Johnson | COM | 478160104 |  | 759397 | 4299 | SH |  | SOLE |  | 0 | 0 | 4299 |
| Lilly Eli  Company | COM | 532457108 |  | 966915 | 2643 | SH |  | SOLE |  | 0 | 0 | 2643 |
| Mastercard Inc | COM | 57636Q104 |  | 483345 | 1390 | SH |  | SOLE |  | 0 | 0 | 1390 |
| Mc Donalds Corp | COM | 580135101 |  | 982719 | 3729 | SH |  | SOLE |  | 0 | 0 | 3729 |
| Merck  Co | COM | 58933Y105 |  | 275427 | 2482 | SH |  | SOLE |  | 0 | 0 | 2482 |
| Microsoft Corp | COM | 594918104 |  | 1190137 | 4963 | SH |  | SOLE |  | 0 | 0 | 4963 |
| Mid Cap S P D R TRUST | ETF | 78467Y107 |  | 4621860 | 10438 | SH |  | SOLE |  | 0 | 0 | 10438 |
| Nike Inc Class B | COM | 654106103 |  | 460208 | 3933 | SH |  | SOLE |  | 0 | 0 | 3933 |
| Northrop Grumman Corp | COM | 666807102 |  | 994647 | 1823 | SH |  | SOLE |  | 0 | 0 | 1823 |
| Novo-Nordisk A-S | COM | 670100205 |  | 1353400 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| Pepsico Incorporated | COM | 713448108 |  | 1992680 | 11030 | SH |  | SOLE |  | 0 | 0 | 11030 |
| Pfizer Incorporated | COM | 717081103 |  | 683473 | 13339 | SH |  | SOLE |  | 0 | 0 | 13339 |
| Procter  Gamble Co | COM | 742718109 |  | 423762 | 2796 | SH |  | SOLE |  | 0 | 0 | 2796 |
| Raytheon Technologies Ord | COM | 75513E101 |  | 313288 | 3104 | SH |  | SOLE |  | 0 | 0 | 3104 |
| Russell 1000/ Lrg. Growth | ETF | 464287614 |  | 1995613 | 9315 | SH |  | SOLE |  | 0 | 0 | 9315 |
| Russell 1000/ Lrg. Value | ETF | 464287598 |  | 3693742 | 24357 | SH |  | SOLE |  | 0 | 0 | 24357 |
| Russell 2000/ Small Value | ETF | 464287630 |  | 527323 | 3803 | SH |  | SOLE |  | 0 | 0 | 3803 |
| Russell 2000/Small Blend | ETF | 464287655 |  | 6816468 | 39094 | SH |  | SOLE |  | 0 | 0 | 39094 |
| Russell 3000 | ETF | 464287689 |  | 12376749 | 56085 | SH |  | SOLE |  | 0 | 0 | 56085 |
| Sch US Tips Etf | ETF | 808524870 |  | 669075 | 12919 | SH |  | SOLE |  | 0 | 0 | 12919 |
| Schw Emg Mkt Eq Etf | ETF | 808524706 |  | 236345 | 9985 | SH |  | SOLE |  | 0 | 0 | 9985 |
| Schw Intl Eq Etf | ETF | 808524805 |  | 310236 | 9632 | SH |  | SOLE |  | 0 | 0 | 9632 |
| Schw US Brd Mkt Etf | ETF | 808524102 |  | 4630531 | 103337 | SH |  | SOLE |  | 0 | 0 | 103337 |
| Schw US Scap Etf | ETF | 808524607 |  | 128889 | 3182 | SH |  | SOLE |  | 0 | 0 | 3182 |
| Schwab Intermediate-Term U.S. Treasury ETF | ETF | 808524854 |  | 737022 | 14971 | SH |  | SOLE |  | 0 | 0 | 14971 |
| Schwab Short-Term U.S. Treasury ETF | ETF | 808524862 |  | 2535446 | 52559 | SH |  | SOLE |  | 0 | 0 | 52559 |
| Schwab US Large Cap | ETF | 808524409 |  | 382873 | 5799 | SH |  | SOLE |  | 0 | 0 | 5799 |
| Schwab US Large Cap Etf | ETF | 808524201 |  | 178410 | 3951 | SH |  | SOLE |  | 0 | 0 | 3951 |
| Sempra Energy | ETF | 816851109 |  | 425758 | 2755 | SH |  | SOLE |  | 0 | 0 | 2755 |
| SPDR Dow Jones Industrial Average ETF | ETF | 78467X109 |  | 284612 | 859 | SH |  | SOLE |  | 0 | 0 | 859 |
| SPDR Trust (S 500) | ETF | 78462F103 |  | 16170057 | 42282 | SH |  | SOLE |  | 0 | 0 | 42282 |
| SPDR Blmbg Barclays 1-3 Mth T-Bill ETF | ETF | 78468R663 |  | 1180639 | 12907 | SH |  | SOLE |  | 0 | 0 | 12907 |
| SPDR Portfolio S 500 Value ETF | ETF | 78464A508 |  | 759677 | 19534 | SH |  | SOLE |  | 0 | 0 | 19534 |
| The Southern Company | COM | 842587107 |  | 1735763 | 24307 | SH |  | SOLE |  | 0 | 0 | 24307 |
| The Trade Desk Inc | COM | 88339J105 |  | 240289 | 5360 | SH |  | SOLE |  | 0 | 0 | 5360 |
| Thermo Electron Corp | COM | 883556102 |  | 441653 | 802 | SH |  | SOLE |  | 0 | 0 | 802 |
| Vanguard Div Apprciation | ETF | 921908844 |  | 237038 | 1561 | SH |  | SOLE |  | 0 | 0 | 1561 |
| Vanguard Emerging Market | ETF | 922042858 |  | 728687 | 18694 | SH |  | SOLE |  | 0 | 0 | 18694 |
| Vanguard ESG Int'l ETF | ETF | 921910725 |  | 5600773 | 113860 | SH |  | SOLE |  | 0 | 0 | 113860 |
| Vanguard ESG U.S. Stock ETF | ETF | 921910733 |  | 10492618 | 159317 | SH |  | SOLE |  | 0 | 0 | 159317 |
| Vanguard Growth | ETF | 922908736 |  | 4312833 | 20238 | SH |  | SOLE |  | 0 | 0 | 20238 |
| Vanguard High Dividend ETF | ETF | 921946406 |  | 1230456 | 11371 | SH |  | SOLE |  | 0 | 0 | 11371 |
| Vanguard Info Technology | ETF | 92204A702 |  | 303440 | 950 | SH |  | SOLE |  | 0 | 0 | 950 |
| Vanguard Interm Bond Index ETF | ETF | 921937819 |  | 23430254 | 315262 | SH |  | SOLE |  | 0 | 0 | 315262 |
| Vanguard Intermediate | ETF | 92206C870 |  | 201629 | 2601 | SH |  | SOLE |  | 0 | 0 | 2601 |
| Vanguard Mid Cap | ETF | 922908629 |  | 564560 | 2770 | SH |  | SOLE |  | 0 | 0 | 2770 |
| Vanguard Msci Eafe Etf | ETF | 921943858 |  | 1010638 | 24080 | SH |  | SOLE |  | 0 | 0 | 24080 |
| Vanguard Reit | ETF | 922908553 |  | 3545677 | 42988 | SH |  | SOLE |  | 0 | 0 | 42988 |
| Vanguard Russell 1000 | ETF | 92206C714 |  | 1119143 | 16809 | SH |  | SOLE |  | 0 | 0 | 16809 |
| Vanguard Russell 1000 Growth ETF | ETF | 92206C680 |  | 1572463 | 28528 | SH |  | SOLE |  | 0 | 0 | 28528 |
| Vanguard Russell 3000 ETF | ETF | 92206C599 |  | 9042466 | 52649 | SH |  | SOLE |  | 0 | 0 | 52649 |
| Vanguard S 500 Etf | ETF | 922908363 |  | 597770 | 1701 | SH |  | SOLE |  | 0 | 0 | 1701 |
| Vanguard Short Term | ETF | 92206C102 |  | 1341019 | 23193 | SH |  | SOLE |  | 0 | 0 | 23193 |
| Vanguard Short Term Corp Bond | ETF | 92206C409 |  | 1333335 | 17733 | SH |  | SOLE |  | 0 | 0 | 17733 |
| Vanguard Short-Term Bond Index Fund | ETF | 921937827 |  | 55281464 | 734345 | SH |  | SOLE |  | 0 | 0 | 734345 |
| Vanguard Shrt Inf Prot | ETF | 922020805 |  | 1501166 | 32138 | SH |  | SOLE |  | 0 | 0 | 32138 |
| Vanguard Small Cap Value | ETF | 922908611 |  | 1007268 | 6343 | SH |  | SOLE |  | 0 | 0 | 6343 |
| Vanguard Total Bond | ETF | 921937835 |  | 6843478 | 95260 | SH |  | SOLE |  | 0 | 0 | 95260 |
| Vanguard Total Internatl | ETF | 92203J407 |  | 2060312 | 43439 | SH |  | SOLE |  | 0 | 0 | 43439 |
| Vanguard Total Intl Etf | ETF | 921909768 |  | 666774 | 12892 | SH |  | SOLE |  | 0 | 0 | 12892 |
| Vanguard Total Stock Mkt | ETF | 922908769 |  | 81400934 | 425759 | SH |  | SOLE |  | 0 | 0 | 425759 |
| Vanguard Value | ETF | 922908744 |  | 9823364 | 69982 | SH |  | SOLE |  | 0 | 0 | 69982 |
| Verizon Communications | COM | 92343V104 |  | 315111 | 7998 | SH |  | SOLE |  | 0 | 0 | 7998 |
| Visa Inc Cl A | COM | 92826C839 |  | 671433 | 3232 | SH |  | SOLE |  | 0 | 0 | 3232 |
| Yum China Holdings I | COM | 98850P109 |  | 114765 | 2100 | SH |  | SOLE |  | 0 | 0 | 2100 |
| Yum! Brands Inc | COM | 988498101 |  | 428300 | 3344 | SH |  | SOLE |  | 0 | 0 | 3344 |
| Zoetis Inc | COM | 98978V103 |  | 244176 | 1666 | SH |  | SOLE |  | 0 | 0 | 1666 |

---