Boltwood Capital Management
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 8, 2024), Boltwood Capital Management reported 166 stock positions worth $320.1 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 7.2% of the portfolio, followed by iShares MBS ETF (MBB, 3.9%) and NT HY Val-SCRD BD ETF (HYGV, 3.7%). Compared with Q1 2024, it opened 4 new positions, sold out of 7, added to 56 and reduced 94. The biggest buy was NT Iboxx 3Y Dur Tips ETF (TDTT, shares +26%) and the biggest sale NT HY Val-SCRD BD ETF (HYGV, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- WALNUT CREEK, CA
- CIK
- 0001563690
- Portfolio Value
- $320.1M (Q2 2024)
- SEC Filing
- 0001563690-24-000003 ↗ filed Jul 8, 2024
Holdings Value
Holdings 166 stocks · $320.1M
| SCHF Schwab Intl Equity ETF | 7.24% | 603,372 | $23.2M | Reduce -0.3% |
| MBB iShares MBS ETF | 3.93% | 136,992 | $12.6M | Reduce -3.5% |
| HYGV NT HY Val-SCRD BD ETF | 3.71% | 293,559 | $11.9M | Reduce -8.9% |
| TDTT NT Iboxx 3Y Dur Tips ETF | 3.69% | 500,857 | $11.8M | Add +25.6% |
| IEI iShares 3-7 Year Treasury Bo | 3.28% | 91,044 | $10.5M | Reduce -8.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 3.09% | 281,625 | $9.9M | Reduce -2.2% |
| MBSD NT Disc Dur MBS ETF | 2.77% | 436,685 | $8.9M | Reduce -1.1% |
| AAPL Apple Inc. | 2.35% | 35,646 | $7.5M | Reduce -2.0% |
| MSFT Microsoft Corp. | 2.28% | 16,302 | $7.3M | Reduce -4.2% |
| IJH iShares Core S&P Midcap ETF | 2.09% | 114,257 | $6.7M | Reduce -3.1% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 2.06% | 248,529 | $6.6M | Reduce -2.8% |
| GUNR NT Mstar GLBL NR ETF | 1.97% | 157,462 | $6.3M | Add +0.7% |
| IJR iShares Core S&P Small-Cap E | 1.90% | 57,096 | $6.1M | Reduce -1.5% |
| XLK SS Technology Select Sector | 1.75% | 24,787 | $5.6M | Reduce -1.1% |
| NVDA Nvidia Corp. | 1.75% | 45,275 | $5.6M | Reduce -1.6% |
| SHY iShares 1-3 Year Treasury Bo | 1.52% | 59,731 | $4.9M | Add +19.6% |
| IEF iShares 7-10 Year Treasury B | 1.41% | 48,192 | $4.5M | Add +8.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.36% | 56,560 | $4.4M | Add +107.0% |
| SKOR NT Crdscr US Corp. BD ETF | 1.33% | 89,765 | $4.3M | Add +0.9% |
| SPEM State Street SP PTF Em ETF | 1.29% | 109,998 | $4.1M | Reduce -0.6% |
| NFRA NT GLBL BRD Infra ETF | 1.27% | 76,437 | $4.1M | Add +2.5% |
| GOOGL Alphabet Inc. Class A | 1.24% | 21,823 | $4.0M | Reduce -3.5% |
| GQRE NT GLBL Qual Re ETF | 1.19% | 70,057 | $3.8M | Reduce -3.4% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.17% | 72,815 | $3.7M | Add +7.9% |
| CVX Chevron Corp. | 1.11% | 22,798 | $3.6M | Add +0.3% |
| MCHP Microchip Technology Inc. | 0.98% | 34,440 | $3.2M | Reduce -2.5% |
| LOW Lowe's Cos Inc. | 0.91% | 13,269 | $2.9M | Reduce -9.2% |
| JPM JPMorgan Chase & Co. | 0.91% | 14,391 | $2.9M | Reduce -7.3% |
| XOM Exxon Mobil Corp. | 0.91% | 25,245 | $2.9M | Reduce -0.3% |
| XLV SS Health Care Select Sector | 0.88% | 19,322 | $2.8M | Reduce -5.3% |
| RAVI NT Ultrashrt Fi ETF | 0.87% | 36,790 | $2.8M | Reduce -22.2% |
| SCHB Schwab US Broad Market ETF | 0.87% | 44,095 | $2.8M | Reduce -1.8% |
| CAT Caterpillar Inc. | 0.86% | 8,256 | $2.8M | Reduce -0.3% |
| AMZN Amazon.com Inc. | 0.84% | 13,901 | $2.7M | Add +1.7% |
| GNR State Street SPDR S&P Global | 0.82% | 46,917 | $2.6M | Add +17.3% |
| CRM Salesforce Inc. | 0.79% | 9,873 | $2.5M | Reduce -1.7% |
| EFA iShares MSCI Eafe ETF | 0.79% | 32,332 | $2.5M | Add +0.2% |
| XLY SS Consumer Disc Select Sect | 0.76% | 13,364 | $2.4M | Reduce -18.6% |
| PG The Procter & Gamble Co. | 0.74% | 14,363 | $2.4M | Reduce -3.8% |
| ABT Abbott Laboratories | 0.71% | 21,732 | $2.3M | Reduce -1.5% |
| META Meta Platforms Inc. Class A | 0.67% | 4,236 | $2.1M | Reduce -9.4% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.67% | 98,686 | $2.1M | Add +15.1% |
| XLE SS Energy Select Sector | 0.66% | 23,096 | $2.1M | Reduce -4.3% |
| SCHA Schwab US Small-Cap ETF | 0.64% | 42,903 | $2.0M | Reduce -3.3% |
| VEU Vanguard Ftse All-World Ex-U | 0.62% | 33,849 | $2.0M | Reduce -3.3% |
| LLY Eli Lilly & Co. | 0.61% | 2,170 | $2.0M | Reduce -5.8% |
| ICE Intercontinental Exchange Inc. | 0.61% | 14,151 | $1.9M | Reduce -5.2% |
| PFE Pfizer Inc. | 0.59% | 67,653 | $1.9M | Add +0.4% |
| XLF SS Financial Select Sector | 0.59% | 45,915 | $1.9M | Reduce -4.1% |
| SCHM Schwab US Mid Cap ETF | 0.57% | 23,598 | $1.8M | Add +0.8% |
| XLI SS Industrial Select Sector | 0.56% | 14,580 | $1.8M | Reduce -8.9% |
| SUB iShares Short-Term National | 0.55% | 16,838 | $1.8M | Add +9.6% |
| ORCL Oracle Corp. | 0.54% | 12,303 | $1.7M | Reduce -3.9% |
| AXP American Express Co. | 0.54% | 7,452 | $1.7M | Reduce -6.4% |
| KO The Coca-Cola Co. | 0.53% | 26,841 | $1.7M | Reduce -5.5% |
| KLAC KLA Corp. | 0.53% | 2,061 | $1.7M | Reduce -1.4% |
| XLC SS Comm Select Sector SPDR | 0.52% | 19,542 | $1.7M | Reduce -4.3% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.52% | 60,578 | $1.6M | Add +4.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.51% | 16,371 | $1.6M | Reduce -2.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.48% | 14,010 | $1.5M | Reduce -1.4% |
| TLT iShares 20+ Year Treasury BD | 0.45% | 15,560 | $1.4M | Add +3.8% |
| WMT Walmart Inc. | 0.44% | 20,747 | $1.4M | Reduce -5.9% |
| ABBV Abbvie Inc. | 0.39% | 7,210 | $1.2M | Add +0.1% |
| XLP SS Consumer Staples Sel Sect | 0.39% | 16,089 | $1.2M | Reduce -5.6% |
| XLB SS Materials Select Sector | 0.37% | 13,506 | $1.2M | Reduce -6.0% |
| SPLB SS SPDR P Long Term C ETF | 0.37% | 52,225 | $1.2M | No change |
| ADBE Adobe Inc. | 0.36% | 2,065 | $1.1M | Add +2.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.35% | 22,070 | $1.1M | Add +12.0% |
| ALL Allstate Corp. | 0.35% | 7,049 | $1.1M | Reduce -15.8% |
| MRSH Marsh & McLennan Cos | 0.35% | 5,337 | $1.1M | Reduce -2.9% |
| DHR Danaher Corp. | 0.35% | 4,455 | $1.1M | Add +0.6% |
| CMF iShares California Muni Bond | 0.33% | 18,820 | $1.1M | Reduce -23.4% |
| WFC Wells Fargo & Co. | 0.31% | 16,700 | $992K | No change |
| HD Home Depot Inc. | 0.30% | 2,820 | $971K | Add +1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.30% | 2,365 | $962K | Reduce -3.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.29% | 5,396 | $933K | Reduce -0.6% |
| ICSH iShares Ultra Short Duration | 0.29% | 18,250 | $922K | Add +3.7% |
| CME Cme Group Inc. | 0.28% | 4,585 | $901K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.28% | 3,319 | $888K | Reduce -2.9% |
| PEP Pepsico Inc. | 0.27% | 5,301 | $874K | Add +0.6% |
| MA Mastercard Inc. Class A | 0.27% | 1,974 | $871K | Add +1.0% |
| ADP Automatic Data Processing | 0.26% | 3,426 | $818K | Reduce -10.2% |
| MDLZ Mondelez International Inc. Class A | 0.25% | 12,436 | $814K | Reduce -1.4% |
| RWO State Street SPDR Dow Jones | 0.25% | 19,140 | $795K | Add +155.1% |
| ADI Analog Devices Inc. | 0.25% | 3,440 | $785K | Add +0.4% |
| BX Blackstone Inc. | 0.24% | 6,276 | $777K | Add +1.7% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.24% | 11,387 | $776K | Reduce -10.5% |
| DLTR Dollar Tree Inc. | 0.24% | 7,194 | $768K | Reduce -2.6% |
| CMG Chipotle Mexican Grill Inc. | 0.23% | 11,850 | $742K | Reduce -4.8% |
| T AT&T Inc. | 0.23% | 38,518 | $736K | Add +5.8% |
| BA The Boeing Co. | 0.23% | 4,033 | $734K | Reduce -0.9% |
| MRK Merck & Co. Inc. | 0.22% | 5,763 | $713K | Add +0.5% |
| INDA iShares MSCI India ETF | 0.22% | 12,575 | $701K | Add +13.0% |
| VIG Vanguard Dividend Apprec ETF | 0.22% | 3,829 | $699K | No change |
| HON Honeywell International Inc. | 0.21% | 3,155 | $674K | Reduce -0.6% |
| COST Costco Wholesale Corp. | 0.21% | 790 | $671K | Add +1.7% |
| CSCO Cisco Systems Inc. | 0.21% | 14,030 | $667K | Reduce -1.4% |
| XLRE SS Real Estate Select Sector | 0.21% | 17,222 | $662K | Reduce -10.1% |
| CMCSA Comcast Corp. Class A | 0.20% | 16,663 | $653K | Reduce -2.8% |
| BLK BlackRock Finance Inc. | 0.20% | 821 | $646K | Add +1.9% |
Portfolio Sells Q1 2024 → Q2 2024
| HYGV NT HY Val-SCRD BD ETF | Reduce -8.9% | 3.71% | −0.40 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -8.7% | 3.28% | −0.29 |
| LOW Lowe's Cos Inc. | Reduce -9.2% | 0.91% | −0.24 |
| RAVI NT Ultrashrt Fi ETF | Reduce -22.2% | 0.87% | −0.24 |
| XLY SS Consumer Disc Select Sect | Reduce -18.6% | 0.76% | −0.17 |
| AGG iShares Core U.S. Aggregate | Reduce -72.2% | 0.06% | −0.17 |
| CRM Salesforce Inc. | Reduce -1.7% | 0.79% | −0.14 |
| VGT Vanguard Info Tech ETF | Reduce -46.4% | 0.20% | −0.14 |
| MBB iShares MBS ETF | Reduce -3.5% | 3.93% | −0.14 |
| CVS CVS Health Corp. | Reduce -25.7% | 0.17% | −0.13 |
| IJH iShares Core S&P Midcap ETF | Reduce -3.1% | 2.09% | −0.13 |
| DIS The Walt Disney Co. | Reduce -2.6% | 0.51% | −0.13 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -2.2% | 3.09% | −0.11 |
| CMF iShares California Muni Bond | Reduce -23.4% | 0.33% | −0.10 |
| ALL Allstate Corp. | Reduce -15.8% | 0.35% | −0.10 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.5% | 1.90% | −0.08 |
| GQRE NT GLBL Qual Re ETF | Reduce -3.4% | 1.19% | −0.08 |
| CAT Caterpillar Inc. | Reduce -0.3% | 0.86% | −0.08 |
| FBIN Fortune Brands Innovations I | Sold out | 0.00% | −0.08 |
| SCHF Schwab Intl Equity ETF | Reduce -0.3% | 7.24% | −0.07 |
| ABT Abbott Laboratories | Reduce -1.5% | 0.71% | −0.07 |
| VFH Vanguard Financials ETF | Sold out | 0.00% | −0.07 |
| XLI SS Industrial Select Sector | Reduce -8.9% | 0.56% | −0.07 |
| INTC Intel Corp. | Reduce -17.5% | 0.10% | −0.07 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.07 |
| GE General Electric | Sold out | 0.00% | −0.07 |
| TGT Target Corp. | Sold out | 0.00% | −0.07 |
| DLTR Dollar Tree Inc. | Reduce -2.6% | 0.24% | −0.06 |
| BBWI Bath & Body Works Inc. | Sold out | 0.00% | −0.06 |
| LIN Linde PLC | Sold out | 0.00% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -7.3% | 0.91% | −0.05 |
| XLV SS Health Care Select Sector | Reduce -5.3% | 0.88% | −0.05 |
| XLE SS Energy Select Sector | Reduce -4.3% | 0.66% | −0.05 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -1.5% | 0.19% | −0.04 |
| IGLB iShares 10+ Year Inv GR Corp. | Reduce -32.0% | 0.08% | −0.04 |
| SCHA Schwab US Small-Cap ETF | Reduce -3.3% | 0.64% | −0.04 |
| XLB SS Materials Select Sector | Reduce -6.0% | 0.37% | −0.04 |
| ADP Automatic Data Processing | Reduce -10.2% | 0.26% | −0.04 |
| META Meta Platforms Inc. Class A | Reduce -9.4% | 0.67% | −0.04 |
| XLF SS Financial Select Sector | Reduce -4.1% | 0.59% | −0.04 |
| NSC Norfolk Southern Corp. | Reduce -4.3% | 0.14% | −0.03 |
| ICE Intercontinental Exchange Inc. | Reduce -5.2% | 0.61% | −0.03 |
| IBM Intl Business Machines Corp. | Reduce -0.6% | 0.29% | −0.03 |
| XLRE SS Real Estate Select Sector | Reduce -10.1% | 0.21% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -2.8% | 0.20% | −0.03 |
| AXP American Express Co. | Reduce -6.4% | 0.54% | −0.02 |
| TPR Tapestry Inc. | Reduce -3.1% | 0.15% | −0.02 |
| HAL Halliburton Co. | Reduce -4.3% | 0.10% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.4% | 0.25% | −0.02 |
| NKE Nike Inc. Class B | Reduce -0.6% | 0.08% | −0.02 |
Portfolio Buys Q1 2024 → Q2 2024
| TDTT NT Iboxx 3Y Dur Tips ETF | Add +25.6% | 3.69% | +0.76 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +107.0% | 1.36% | +0.70 |
| SHY iShares 1-3 Year Treasury Bo | Add +19.6% | 1.52% | +0.26 |
| RWO State Street SPDR Dow Jones | Add +155.1% | 0.25% | +0.15 |
| IEF iShares 7-10 Year Treasury B | Add +8.7% | 1.41% | +0.11 |
| GNR State Street SPDR S&P Global | Add +17.3% | 0.82% | +0.10 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +7.9% | 1.17% | +0.09 |
| IGF iShares Global Infrastructur | New | 0.09% | +0.09 |
| SPMB SS SPDR P Mort Back Bond ETF | Add +15.1% | 0.67% | +0.09 |
| PINS Pinterest Inc. Class A | New | 0.08% | +0.08 |
| AMZN Amazon.com Inc. | Add +1.7% | 0.84% | +0.08 |
| AVGO Broadcom Inc. | New | 0.07% | +0.07 |
| PM Philip Morris International | New | 0.06% | +0.06 |
| SUB iShares Short-Term National | Add +9.6% | 0.55% | +0.05 |
| FLTW Franklin Ftse Taiwan ETF | Add +36.3% | 0.14% | +0.05 |
| ADBE Adobe Inc. | Add +2.8% | 0.36% | +0.04 |
| INDA iShares MSCI India ETF | Add +13.0% | 0.22% | +0.04 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +12.0% | 0.35% | +0.04 |
| ADI Analog Devices Inc. | Add +0.4% | 0.25% | +0.04 |
| COST Costco Wholesale Corp. | Add +1.7% | 0.21% | +0.03 |
| MCHI iShares MSCI China ETF | Add +16.4% | 0.17% | +0.03 |
| FLCH Franklin Ftse China ETF | Add +19.0% | 0.16% | +0.03 |
| T AT&T Inc. | Add +5.8% | 0.23% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +5.8% | 0.14% | +0.03 |
| NEE Nextera Energy Inc. | Add +0.7% | 0.17% | +0.02 |
| SKOR NT Crdscr US Corp. BD ETF | Add +0.9% | 1.33% | +0.01 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +4.7% | 0.52% | +0.01 |
| ICSH iShares Ultra Short Duration | Add +3.7% | 0.29% | +0.01 |
| PFE Pfizer Inc. | Add +0.4% | 0.59% | +0.01 |
| NFRA NT GLBL BRD Infra ETF | Add +2.5% | 1.27% | +0.01 |
| EWU iShares MSCI United Kingdom | Add +5.8% | 0.09% | +0.01 |
| EEM iShares MSCI Emerging Market | Add +0.2% | 0.15% | +0.01 |
| BDX Becton Dickinson and Co. | Add +13.6% | 0.09% | +0.01 |
| TLT iShares 20+ Year Treasury BD | Add +3.8% | 0.45% | +0.01 |
| JCI Johnson Controls Internation | Add +2.5% | 0.12% | +0.01 |
| DHR Danaher Corp. | Add +0.6% | 0.35% | +0.01 |
| EWJ iShares MSCI Japan ETF | Add +7.8% | 0.12% | +0.00 |
| CVX Chevron Corp. | Add +0.3% | 1.11% | +0.00 |
| VNQ Vanguard Real Estate ETF | Add +4.3% | 0.15% | +0.00 |
| PYPL PayPal Holdings Inc. | Add +15.5% | 0.14% | +0.00 |
| VCR Vanguard Consumer Discre ETF | Add +2.6% | 0.07% | +0.00 |
| VZ Verizon Communications Inc. | Add +1.6% | 0.08% | +0.00 |
| MMM 3M Co. | Add +1.0% | 0.08% | −0.00 |
| UNP Union Pacific Corp. | Add +2.0% | 0.08% | −0.00 |
| COR Cencora Inc. | Add +2.3% | 0.13% | −0.01 |
| BLK BlackRock Finance Inc. | Add +1.9% | 0.20% | −0.01 |
| EFA iShares MSCI Eafe ETF | Add +0.2% | 0.79% | −0.01 |
| BX Blackstone Inc. | Add +1.7% | 0.24% | −0.01 |
| GSK GSK PLC-Spon ADR | Add +2.5% | 0.13% | −0.01 |
| AMD Advanced Micro Devices | Add +1.9% | 0.14% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 192 | $436.4M | SCHF, TDTT, SPDW, MBB, IEI |
| Q1 2026 | 184 | $392.1M | SCHF, TDTT, MBB, SPDW, IEI |
| Q4 2025 | 182 | $384.6M | SCHF, TDTT, MBB, SPDW, HYGV |
| Q3 2025 | 178 | $375.7M | SCHF, TDTT, MBB, SPDW, HYGV |
| Q2 2025 | 172 | $351.8M | SCHF, TDTT, MBB, IEI, HYGV |
| Q1 2025 | 170 | $328.9M | SCHF, TDTT, HYGV, MBB, IEI |
| Q4 2024 | 170 | $328.2M | SCHF, TDTT, HYGV, MBB, IEI |
| Q3 2024 | 174 | $337.4M | SCHF, HYGV, TDTT, MBB, IEI |
| Q2 2024 | 166 | $320.1M | SCHF, MBB, HYGV, TDTT, IEI |
| Q1 2024 | 169 | $322.8M | SCHF, HYGV, MBB, IEI, SPDW |