Boltwood Capital Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 2, 2024), Boltwood Capital Management reported 174 stock positions worth $337.4 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 7.2% of the portfolio, followed by NT HY Val-SCRD BD ETF (HYGV, 3.9%) and NT Iboxx 3Y Dur Tips ETF (TDTT, 3.8%). Compared with Q2 2024, it opened 10 new positions, sold out of 2, added to 60 and reduced 92. The biggest buy was Apple (AAPL, shares +4%) and the biggest sale iShares 7-10 Year Treasury B (IEF, shares −22%).
- Most Recent 13F
- Q2 2026
- Location
- WALNUT CREEK, CA
- CIK
- 0001563690
- Portfolio Value
- $337.4M (Q3 2024)
- SEC Filing
- 0001563690-24-000007 ↗ filed Oct 2, 2024
Holdings Value
Holdings 174 stocks · $337.4M
| SCHF Schwab Intl Equity ETF | 7.19% | 590,290 | $24.3M | Reduce -2.2% |
| HYGV NT HY Val-SCRD BD ETF | 3.86% | 312,940 | $13.0M | Add +6.6% |
| TDTT NT Iboxx 3Y Dur Tips ETF | 3.83% | 538,016 | $12.9M | Add +7.4% |
| MBB iShares MBS ETF | 3.80% | 133,747 | $12.8M | Reduce -2.4% |
| IEI iShares 3-7 Year Treasury Bo | 3.27% | 92,325 | $11.0M | Add +1.4% |
| SPDW Ste STR SPDR PT DW Eu ETF | 3.17% | 284,710 | $10.7M | Add +1.1% |
| MBSD NT Disc Dur MBS ETF | 2.59% | 417,069 | $8.8M | Reduce -4.5% |
| AAPL Apple Inc. | 2.56% | 37,027 | $8.6M | Add +3.9% |
| MSFT Microsoft Corp. | 2.12% | 16,592 | $7.1M | Add +1.8% |
| IJH iShares Core S&P Midcap ETF | 2.11% | 114,160 | $7.1M | Reduce -0.1% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 2.08% | 240,689 | $7.0M | Reduce -3.1% |
| GUNR NT Mstar GLBL NR ETF | 2.02% | 165,296 | $6.8M | Add +5.0% |
| IJR iShares Core S&P Small-Cap E | 1.96% | 56,441 | $6.6M | Reduce -1.1% |
| SHY iShares 1-3 Year Treasury Bo | 1.68% | 68,087 | $5.7M | Add +14.0% |
| NVDA Nvidia Corp. | 1.66% | 46,000 | $5.6M | Add +1.6% |
| XLK SS Technology Select Sector | 1.62% | 24,236 | $5.5M | Reduce -2.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.50% | 63,210 | $5.1M | Add +11.8% |
| SPEM State Street SP PTF Em ETF | 1.36% | 111,515 | $4.6M | Add +1.4% |
| NFRA NT GLBL BRD Infra ETF | 1.36% | 77,224 | $4.6M | Add +1.0% |
| GQRE NT GLBL Qual Re ETF | 1.30% | 70,696 | $4.4M | Add +0.9% |
| SKOR NT Crdscr US Corp. BD ETF | 1.29% | 88,687 | $4.4M | Reduce -1.2% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.22% | 77,871 | $4.1M | Add +6.9% |
| GOOGL Alphabet Inc. Class A | 1.12% | 22,707 | $3.8M | Add +4.0% |
| IEF iShares 7-10 Year Treasury B | 1.09% | 37,659 | $3.7M | Reduce -21.9% |
| LOW Lowe's Cos Inc. | 1.04% | 12,916 | $3.5M | Reduce -2.7% |
| CVX Chevron Corp. | 0.99% | 22,733 | $3.3M | Reduce -0.3% |
| CAT Caterpillar Inc. | 0.95% | 8,237 | $3.2M | Reduce -0.2% |
| GNR State Street SPDR S&P Global | 0.92% | 54,036 | $3.1M | Add +15.2% |
| JPM JPMorgan Chase & Co. | 0.90% | 14,410 | $3.0M | Add +0.1% |
| XOM Exxon Mobil Corp. | 0.88% | 25,289 | $3.0M | Add +0.2% |
| XLV SS Health Care Select Sector | 0.84% | 18,322 | $2.8M | Reduce -5.2% |
| AMZN Amazon.com Inc. | 0.81% | 14,702 | $2.7M | Add +5.8% |
| EFA iShares MSCI Eafe ETF | 0.80% | 32,344 | $2.7M | Add +0.0% |
| CRM Salesforce Inc. | 0.78% | 9,633 | $2.6M | Reduce -2.4% |
| MCHP Microchip Technology Inc. | 0.76% | 32,003 | $2.6M | Reduce -7.1% |
| SCHB Schwab US Broad Market ETF | 0.74% | 37,673 | $2.5M | Reduce -14.6% |
| ABT Abbott Laboratories | 0.74% | 21,821 | $2.5M | Add +0.4% |
| PG The Procter & Gamble Co. | 0.74% | 14,342 | $2.5M | Reduce -0.1% |
| XLY SS Consumer Disc Select Sect | 0.73% | 12,288 | $2.5M | Reduce -8.1% |
| RAVI NT Ultrashrt Fi ETF | 0.72% | 31,965 | $2.4M | Reduce -13.1% |
| META Meta Platforms Inc. Class A | 0.71% | 4,186 | $2.4M | Reduce -1.2% |
| SCHA Schwab US Small-Cap ETF | 0.67% | 44,008 | $2.3M | Add +2.6% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.66% | 98,688 | $2.2M | Add +0.0% |
| ICE Intercontinental Exchange Inc. | 0.65% | 13,680 | $2.2M | Reduce -3.3% |
| VEU Vanguard Ftse All-World Ex-U | 0.63% | 33,849 | $2.1M | No change |
| SCHM Schwab US Mid Cap ETF | 0.60% | 24,474 | $2.0M | Add +3.7% |
| AXP American Express Co. | 0.59% | 7,402 | $2.0M | Reduce -0.7% |
| XLE SS Energy Select Sector | 0.59% | 22,668 | $2.0M | Reduce -1.9% |
| ORCL Oracle Corp. | 0.58% | 11,442 | $1.9M | Reduce -7.0% |
| XLF SS Financial Select Sector | 0.57% | 42,583 | $1.9M | Reduce -7.3% |
| KO The Coca-Cola Co. | 0.57% | 26,690 | $1.9M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.55% | 2,099 | $1.9M | Reduce -3.3% |
| XLI SS Industrial Select Sector | 0.54% | 13,562 | $1.8M | Reduce -7.0% |
| PFE Pfizer Inc. | 0.54% | 62,722 | $1.8M | Reduce -7.3% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.53% | 61,246 | $1.8M | Add +1.1% |
| XLC SS Comm Select Sector SPDR | 0.51% | 18,905 | $1.7M | Reduce -3.3% |
| WMT Walmart Inc. | 0.48% | 20,137 | $1.6M | Reduce -2.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.47% | 13,491 | $1.6M | Reduce -3.7% |
| KLAC KLA Corp. | 0.46% | 2,025 | $1.6M | Reduce -1.8% |
| SUB iShares Short-Term National | 0.45% | 14,455 | $1.5M | Reduce -14.2% |
| TLT iShares 20+ Year Treasury BD | 0.45% | 15,556 | $1.5M | Reduce -0.0% |
| ABBV Abbvie Inc. | 0.42% | 7,165 | $1.4M | Reduce -0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.39% | 13,783 | $1.3M | Reduce -15.8% |
| ALL Allstate Corp. | 0.39% | 6,980 | $1.3M | Reduce -1.0% |
| XLP SS Consumer Staples Sel Sect | 0.38% | 15,593 | $1.3M | Reduce -3.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.37% | 23,282 | $1.3M | Add +5.5% |
| SPLB SS SPDR P Long Term C ETF | 0.37% | 51,450 | $1.2M | Reduce -1.5% |
| XLB SS Materials Select Sector | 0.37% | 12,881 | $1.2M | Reduce -4.6% |
| DHR Danaher Corp. | 0.37% | 4,460 | $1.2M | Add +0.1% |
| MRSH Marsh & McLennan Cos | 0.34% | 5,105 | $1.1M | Reduce -4.3% |
| HD Home Depot Inc. | 0.34% | 2,805 | $1.1M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.32% | 4,863 | $1.1M | Reduce -9.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.31% | 2,306 | $1.1M | Reduce -2.5% |
| CME Cme Group Inc. | 0.30% | 4,600 | $1.0M | Add +0.3% |
| ADBE Adobe Inc. | 0.30% | 1,952 | $1.0M | Reduce -5.5% |
| MA Mastercard Inc. Class A | 0.30% | 2,035 | $1.0M | Add +3.1% |
| ICSH iShares Ultra Short Duration | 0.29% | 19,400 | $984K | Add +6.3% |
| MDLZ Mondelez International Inc. Class A | 0.28% | 12,888 | $949K | Add +3.6% |
| WFC Wells Fargo & Co. | 0.28% | 16,800 | $949K | Add +0.6% |
| ADP Automatic Data Processing | 0.28% | 3,397 | $940K | Reduce -0.8% |
| RWO State Street SPDR Dow Jones | 0.28% | 19,645 | $934K | Add +2.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.28% | 3,296 | $933K | Reduce -0.7% |
| INDA iShares MSCI India ETF | 0.28% | 15,900 | $931K | Add +26.4% |
| BX Blackstone Inc. | 0.27% | 6,006 | $920K | Reduce -4.3% |
| CMF iShares California Muni Bond | 0.26% | 15,210 | $884K | Reduce -19.2% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.26% | 10,920 | $882K | Reduce -4.1% |
| PEP Pepsico Inc. | 0.26% | 5,171 | $879K | Reduce -2.5% |
| T AT&T Inc. | 0.24% | 36,232 | $797K | Reduce -5.9% |
| COST Costco Wholesale Corp. | 0.24% | 899 | $797K | Add +13.8% |
| FLCH Franklin Ftse China ETF | 0.23% | 39,400 | $792K | Add +30.9% |
| ADI Analog Devices Inc. | 0.23% | 3,310 | $762K | Reduce -3.8% |
| VIG Vanguard Dividend Apprec ETF | 0.22% | 3,829 | $758K | No change |
| XLRE SS Real Estate Select Sector | 0.22% | 16,772 | $749K | Reduce -2.6% |
| BLK BlackRock Finance Inc. | 0.22% | 782 | $743K | Reduce -4.8% |
| CMG Chipotle Mexican Grill Inc. | 0.20% | 11,975 | $690K | Add +1.1% |
| MRK Merck & Co. Inc. | 0.20% | 5,838 | $663K | Add +1.3% |
| CSCO Cisco Systems Inc. | 0.19% | 12,173 | $648K | Reduce -13.2% |
| NEE Nextera Energy Inc. | 0.19% | 7,555 | $639K | Reduce -1.3% |
| HON Honeywell International Inc. | 0.19% | 3,060 | $633K | Reduce -3.0% |
| PLD Prologis Inc. | 0.19% | 5,000 | $631K | No change |
Portfolio Sells Q2 2024 → Q3 2024
| IEF iShares 7-10 Year Treasury B | Reduce -21.9% | 1.09% | −0.32 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.24 |
| MCHP Microchip Technology Inc. | Reduce -7.1% | 0.76% | −0.22 |
| MBSD NT Disc Dur MBS ETF | Reduce -4.5% | 2.59% | −0.17 |
| RAVI NT Ultrashrt Fi ETF | Reduce -13.1% | 0.72% | −0.15 |
| MBB iShares MBS ETF | Reduce -2.4% | 3.80% | −0.13 |
| XLK SS Technology Select Sector | Reduce -2.2% | 1.62% | −0.13 |
| SCHB Schwab US Broad Market ETF | Reduce -14.6% | 0.74% | −0.12 |
| CVX Chevron Corp. | Reduce -0.3% | 0.99% | −0.12 |
| DIS The Walt Disney Co. | Reduce -15.8% | 0.39% | −0.12 |
| SUB iShares Short-Term National | Reduce -14.2% | 0.45% | −0.10 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.08 |
| CMF iShares California Muni Bond | Reduce -19.2% | 0.26% | −0.07 |
| XLE SS Energy Select Sector | Reduce -1.9% | 0.59% | −0.07 |
| KLAC KLA Corp. | Reduce -1.8% | 0.46% | −0.07 |
| BA The Boeing Co. | Reduce -8.7% | 0.17% | −0.06 |
| LLY Eli Lilly & Co. | Reduce -3.3% | 0.55% | −0.06 |
| ADBE Adobe Inc. | Reduce -5.5% | 0.30% | −0.06 |
| VGT Vanguard Info Tech ETF | Reduce -25.4% | 0.15% | −0.06 |
| PFE Pfizer Inc. | Reduce -7.3% | 0.54% | −0.05 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -21.7% | 0.14% | −0.05 |
| SCHF Schwab Intl Equity ETF | Reduce -2.2% | 7.19% | −0.05 |
| XLV SS Health Care Select Sector | Reduce -5.2% | 0.84% | −0.04 |
| SKOR NT Crdscr US Corp. BD ETF | Reduce -1.2% | 1.29% | −0.04 |
| SCHW Schwab (charles) Corp. | Reduce -2.9% | 0.15% | −0.04 |
| AMD Advanced Micro Devices | Reduce -21.8% | 0.10% | −0.03 |
| XLY SS Consumer Disc Select Sect | Reduce -8.1% | 0.73% | −0.03 |
| INTC Intel Corp. | Reduce -5.2% | 0.07% | −0.03 |
| HON Honeywell International Inc. | Reduce -3.0% | 0.19% | −0.02 |
| HAL Halliburton Co. | Reduce -3.7% | 0.08% | −0.02 |
| EWJ iShares MSCI Japan ETF | Reduce -16.4% | 0.10% | −0.02 |
| ADI Analog Devices Inc. | Reduce -3.8% | 0.23% | −0.02 |
| J Jacobs Solutions Inc. | Reduce -1.3% | 0.14% | −0.02 |
| BIIB Biogen Inc. | Reduce -0.6% | 0.07% | −0.02 |
| XLF SS Financial Select Sector | Reduce -7.3% | 0.57% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -9.5% | 0.19% | −0.02 |
| XLC SS Comm Select Sector SPDR | Reduce -3.3% | 0.51% | −0.02 |
| IGLB iShares 10+ Year Inv GR Corp. | Reduce -21.1% | 0.07% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -13.2% | 0.19% | −0.02 |
| MRSH Marsh & McLennan Cos | Reduce -4.3% | 0.34% | −0.01 |
| NKE Nike Inc. Class B | Reduce -25.9% | 0.07% | −0.01 |
| PEP Pepsico Inc. | Reduce -2.5% | 0.26% | −0.01 |
| TJX TJX Companies Inc. | Reduce -3.7% | 0.47% | −0.01 |
| CRM Salesforce Inc. | Reduce -2.4% | 0.78% | −0.01 |
| XLI SS Industrial Select Sector | Reduce -7.0% | 0.54% | −0.01 |
| TPR Tapestry Inc. | Reduce -10.1% | 0.14% | −0.01 |
| D Dominion Energy Inc. | Reduce -19.7% | 0.07% | −0.01 |
| TFC Truist Financial Corp. | Reduce -9.8% | 0.13% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -7.0% | 0.08% | −0.01 |
| UPS United Parcel Service Class B | Reduce -3.8% | 0.06% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| AAPL Apple Inc. | Add +3.9% | 2.56% | +0.21 |
| HYGV NT HY Val-SCRD BD ETF | Add +6.6% | 3.86% | +0.16 |
| SHY iShares 1-3 Year Treasury Bo | Add +14.0% | 1.68% | +0.15 |
| TDTT NT Iboxx 3Y Dur Tips ETF | Add +7.4% | 3.83% | +0.14 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +11.8% | 1.50% | +0.14 |
| GQRE NT GLBL Qual Re ETF | Add +0.9% | 1.30% | +0.11 |
| GNR State Street SPDR S&P Global | Add +15.2% | 0.92% | +0.10 |
| NFRA NT GLBL BRD Infra ETF | Add +1.0% | 1.36% | +0.09 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +1.1% | 3.17% | +0.08 |
| FBIN Fortune Brands Innovations I | New | 0.08% | +0.08 |
| FLCH Franklin Ftse China ETF | Add +30.9% | 0.23% | +0.08 |
| SPEM State Street SP PTF Em ETF | Add +1.4% | 1.36% | +0.07 |
| MUB iShares National Muni Bond E | New | 0.07% | +0.07 |
| GE General Electric | New | 0.07% | +0.07 |
| GS Goldman Sachs Group Inc. | New | 0.06% | +0.06 |
| EWL iShares MSCI Switzerland ETF | New | 0.06% | +0.06 |
| GII State Street SPDR S&P Global | New | 0.06% | +0.06 |
| VFH Vanguard Financials ETF | New | 0.06% | +0.06 |
| EWQ iShares MSCI France ETF | New | 0.06% | +0.06 |
| BMY Bristol-Myers Squibb Co. | New | 0.06% | +0.06 |
| LIN Linde PLC | New | 0.06% | +0.06 |
| INDA iShares MSCI India ETF | Add +26.4% | 0.28% | +0.06 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +6.9% | 1.22% | +0.05 |
| GUNR NT Mstar GLBL NR ETF | Add +5.0% | 2.02% | +0.05 |
| IGF iShares Global Infrastructur | Add +38.2% | 0.14% | +0.04 |
| MCD McDonald's Corp. | Add +14.7% | 0.17% | +0.04 |
| SCHA Schwab US Small-Cap ETF | Add +2.6% | 0.67% | +0.04 |
| TSLA Tesla Inc. | Add +4.1% | 0.15% | +0.03 |
| ABT Abbott Laboratories | Add +0.4% | 0.74% | +0.03 |
| SCHM Schwab US Mid Cap ETF | Add +3.7% | 0.60% | +0.03 |
| RWO State Street SPDR Dow Jones | Add +2.6% | 0.28% | +0.03 |
| MDLZ Mondelez International Inc. Class A | Add +3.6% | 0.28% | +0.03 |
| COST Costco Wholesale Corp. | Add +13.8% | 0.24% | +0.03 |
| MA Mastercard Inc. Class A | Add +3.1% | 0.30% | +0.03 |
| EWT iShares MSCI Taiwan ETF | Add +30.3% | 0.11% | +0.02 |
| DHR Danaher Corp. | Add +0.1% | 0.37% | +0.02 |
| CME Cme Group Inc. | Add +0.3% | 0.30% | +0.02 |
| NSC Norfolk Southern Corp. | Add +2.7% | 0.16% | +0.02 |
| VNQ Vanguard Real Estate ETF | Add +1.8% | 0.17% | +0.02 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +5.5% | 0.37% | +0.02 |
| AVGO Broadcom Inc. | Add +21.4% | 0.09% | +0.02 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +1.1% | 0.53% | +0.01 |
| EWU iShares MSCI United Kingdom | Add +11.0% | 0.10% | +0.01 |
| EFA iShares MSCI Eafe ETF | Add +0.0% | 0.80% | +0.01 |
| PM Philip Morris International | Add +2.0% | 0.07% | +0.01 |
| FLTW Franklin Ftse Taiwan ETF | Add +11.4% | 0.15% | +0.01 |
| VDE Vanguard Energy ETF | Add +18.5% | 0.08% | +0.01 |
| BMO Bank of Montreal | Add +3.1% | 0.11% | +0.01 |
| VZ Verizon Communications Inc. | Add +2.4% | 0.09% | +0.00 |
| EEM iShares MSCI Emerging Market | Add +0.4% | 0.15% | +0.00 |
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 |