Boltwood Capital Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 6, 2025), Boltwood Capital Management reported 170 stock positions worth $328.2 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 6.7% of the portfolio, followed by NT Iboxx 3Y Dur Tips ETF (TDTT, 4.1%) and NT HY Val-SCRD BD ETF (HYGV, 4.0%). Compared with Q3 2024, it opened 4 new positions, sold out of 8, added to 70 and reduced 78. The biggest buy was Nvidia (NVDA, shares +3%) and the biggest sale Microchip Technology (MCHP, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- WALNUT CREEK, CA
- CIK
- 0001563690
- Portfolio Value
- $328.2M (Q4 2024)
- SEC Filing
- 0001563690-25-000001 ↗ filed Jan 6, 2025
Holdings Value
Holdings 170 stocks · $328.2M
| SCHF Schwab Intl Equity ETF | 6.68% | 1,185,387 | $21.9M | Add +0.4% |
| TDTT NT Iboxx 3Y Dur Tips ETF | 4.07% | 565,629 | $13.3M | Add +5.1% |
| HYGV NT HY Val-SCRD BD ETF | 4.00% | 323,006 | $13.1M | Add +3.2% |
| MBB iShares MBS ETF | 3.83% | 137,122 | $12.6M | Add +2.5% |
| IEI iShares 3-7 Year Treasury Bo | 3.44% | 97,629 | $11.3M | Add +5.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 3.00% | 288,560 | $9.8M | Add +1.4% |
| MBSD NT Disc Dur MBS ETF | 2.54% | 411,523 | $8.3M | Reduce -1.3% |
| AAPL Apple Inc. | 2.43% | 31,858 | $8.0M | Reduce -14.0% |
| IJH iShares Core S&P Midcap ETF | 2.15% | 113,345 | $7.1M | Reduce -0.7% |
| MSFT Microsoft Corp. | 2.09% | 16,254 | $6.9M | Reduce -2.0% |
| IJR iShares Core S&P Small-Cap E | 1.97% | 56,046 | $6.5M | Reduce -0.7% |
| GUNR NT Mstar GLBL NR ETF | 1.95% | 175,902 | $6.4M | Add +6.4% |
| NVDA Nvidia Corp. | 1.94% | 47,450 | $6.4M | Add +3.1% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 1.93% | 238,329 | $6.3M | Reduce -1.0% |
| SHY iShares 1-3 Year Treasury Bo | 1.81% | 72,452 | $5.9M | Add +6.4% |
| XLK SS Technology Select Sector | 1.72% | 24,322 | $5.7M | Add +0.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.59% | 66,435 | $5.2M | Add +5.1% |
| GOOGL Alphabet Inc. Class A | 1.36% | 23,593 | $4.5M | Add +3.9% |
| SPEM State Street SP PTF Em ETF | 1.30% | 111,395 | $4.3M | Reduce -0.1% |
| NFRA NT GLBL BRD Infra ETF | 1.30% | 78,497 | $4.3M | Add +1.6% |
| SKOR NT Crdscr US Corp. BD ETF | 1.29% | 88,571 | $4.2M | Reduce -0.1% |
| GQRE NT GLBL Qual Re ETF | 1.25% | 71,954 | $4.1M | Add +1.8% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.24% | 78,546 | $4.1M | Add +0.9% |
| JPM JPMorgan Chase & Co. | 1.06% | 14,450 | $3.5M | Add +0.3% |
| AMZN Amazon.com Inc. | 1.01% | 15,042 | $3.3M | Add +2.3% |
| CVX Chevron Corp. | 1.00% | 22,665 | $3.3M | Reduce -0.3% |
| IEF iShares 7-10 Year Treasury B | 0.99% | 35,144 | $3.2M | Reduce -6.7% |
| CRM Salesforce Inc. | 0.96% | 9,448 | $3.2M | Reduce -1.9% |
| LOW Lowe's Cos Inc. | 0.96% | 12,770 | $3.2M | Reduce -1.1% |
| CAT Caterpillar Inc. | 0.91% | 8,235 | $3.0M | Reduce -0.0% |
| GNR State Street SPDR S&P Global | 0.90% | 59,236 | $2.9M | Add +9.6% |
| XOM Exxon Mobil Corp. | 0.83% | 25,205 | $2.7M | Reduce -0.3% |
| XLY SS Consumer Disc Select Sect | 0.83% | 12,070 | $2.7M | Reduce -1.8% |
| XLV SS Health Care Select Sector | 0.76% | 18,221 | $2.5M | Reduce -0.6% |
| META Meta Platforms Inc. Class A | 0.76% | 4,245 | $2.5M | Add +1.4% |
| ABT Abbott Laboratories | 0.76% | 21,940 | $2.5M | Add +0.6% |
| SCHB Schwab US Broad Market ETF | 0.75% | 108,924 | $2.5M | Reduce -3.6% |
| EFA iShares MSCI Eafe ETF | 0.75% | 32,504 | $2.5M | Add +0.5% |
| PG The Procter & Gamble Co. | 0.72% | 14,185 | $2.4M | Reduce -1.1% |
| SCHA Schwab US Small-Cap ETF | 0.69% | 87,446 | $2.3M | Reduce -0.7% |
| AXP American Express Co. | 0.66% | 7,343 | $2.2M | Reduce -0.8% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.65% | 98,588 | $2.1M | Reduce -0.1% |
| RAVI NT Ultrashrt Fi ETF | 0.63% | 27,290 | $2.1M | Reduce -14.6% |
| SCHM Schwab US Mid Cap ETF | 0.62% | 73,294 | $2.0M | Reduce -0.2% |
| ICE Intercontinental Exchange Inc. | 0.61% | 13,507 | $2.0M | Reduce -1.3% |
| XLE SS Energy Select Sector | 0.59% | 22,753 | $1.9M | Add +0.4% |
| VEU Vanguard Ftse All-World Ex-U | 0.59% | 33,649 | $1.9M | Reduce -0.6% |
| XLF SS Financial Select Sector | 0.58% | 39,566 | $1.9M | Reduce -7.1% |
| ORCL Oracle Corp. | 0.56% | 11,002 | $1.8M | Reduce -3.9% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.56% | 69,726 | $1.8M | Add +13.8% |
| WMT Walmart Inc. | 0.55% | 20,097 | $1.8M | Reduce -0.2% |
| MCHP Microchip Technology Inc. | 0.54% | 30,865 | $1.8M | Reduce -3.6% |
| XLI SS Industrial Select Sector | 0.53% | 13,301 | $1.8M | Reduce -1.9% |
| XLC SS Comm Select Sector SPDR | 0.52% | 17,687 | $1.7M | Reduce -6.4% |
| KO The Coca-Cola Co. | 0.50% | 26,550 | $1.7M | Reduce -0.5% |
| PFE Pfizer Inc. | 0.49% | 60,337 | $1.6M | Reduce -3.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.48% | 13,151 | $1.6M | Reduce -2.5% |
| LLY Eli Lilly & Co. | 0.48% | 2,057 | $1.6M | Reduce -2.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.46% | 13,558 | $1.5M | Reduce -1.6% |
| TLT iShares 20+ Year Treasury BD | 0.46% | 17,151 | $1.5M | Add +10.3% |
| ALL Allstate Corp. | 0.45% | 7,710 | $1.5M | Add +10.5% |
| SUB iShares Short-Term National | 0.45% | 14,080 | $1.5M | Reduce -2.6% |
| ABBV Abbvie Inc. | 0.38% | 7,065 | $1.3M | Reduce -1.4% |
| KLAC KLA Corp. | 0.38% | 1,985 | $1.3M | Reduce -2.0% |
| XLP SS Consumer Staples Sel Sect | 0.37% | 15,481 | $1.2M | Reduce -0.7% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.37% | 23,467 | $1.2M | Add +0.8% |
| WFC Wells Fargo & Co. | 0.36% | 16,975 | $1.2M | Add +1.0% |
| COST Costco Wholesale Corp. | 0.35% | 1,260 | $1.2M | Add +40.2% |
| SPLB SS SPDR P Long Term C ETF | 0.35% | 51,300 | $1.1M | Reduce -0.3% |
| HD Home Depot Inc. | 0.33% | 2,790 | $1.1M | Reduce -0.5% |
| MA Mastercard Inc. Class A | 0.33% | 2,055 | $1.1M | Add +1.0% |
| XLB SS Materials Select Sector | 0.33% | 12,844 | $1.1M | Reduce -0.3% |
| CME Cme Group Inc. | 0.33% | 4,600 | $1.1M | No change |
| MRSH Marsh & McLennan Cos | 0.32% | 4,996 | $1.1M | Reduce -2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.32% | 2,306 | $1.0M | No change |
| DHR Danaher Corp. | 0.31% | 4,445 | $1.0M | Reduce -0.3% |
| BX Blackstone Inc. | 0.31% | 5,901 | $1.0M | Reduce -1.8% |
| ICSH iShares Ultra Short Duration | 0.31% | 19,900 | $1.0M | Add +2.6% |
| ADP Automatic Data Processing | 0.30% | 3,412 | $999K | Add +0.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.29% | 3,246 | $941K | Reduce -1.5% |
| RWO State Street SPDR Dow Jones | 0.27% | 20,490 | $879K | Add +4.3% |
| BLK BlackRock Finance Inc. | 0.26% | 845 | $866K | Add +8.1% |
| CMF iShares California Muni Bond | 0.26% | 14,960 | $857K | Reduce -1.6% |
| ADBE Adobe Inc. | 0.26% | 1,915 | $852K | Reduce -1.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.25% | 10,983 | $831K | Add +0.6% |
| MDLZ Mondelez International Inc. Class A | 0.24% | 13,270 | $793K | Add +3.0% |
| PEP Pepsico Inc. | 0.24% | 5,196 | $790K | Add +0.5% |
| CMG Chipotle Mexican Grill Inc. | 0.24% | 13,025 | $785K | Add +8.8% |
| TSLA Tesla Inc. | 0.24% | 1,920 | $775K | No change |
| INDA iShares MSCI India ETF | 0.24% | 14,675 | $772K | Reduce -7.7% |
| FLCH Franklin Ftse China ETF | 0.23% | 41,200 | $758K | Add +4.6% |
| VIG Vanguard Dividend Apprec ETF | 0.23% | 3,802 | $745K | Reduce -0.7% |
| PANW Palo Alto Networks Inc. | 0.23% | 4,068 | $740K | Add +17.0% |
| CSCO Cisco Systems Inc. | 0.22% | 12,018 | $711K | Reduce -1.3% |
| HON Honeywell International Inc. | 0.21% | 3,095 | $699K | Add +1.1% |
| ADI Analog Devices Inc. | 0.21% | 3,255 | $692K | Reduce -1.7% |
| XLRE SS Real Estate Select Sector | 0.21% | 16,906 | $688K | Add +0.8% |
| BA The Boeing Co. | 0.19% | 3,574 | $633K | Reduce -3.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.19% | 2,782 | $612K | Reduce -42.8% |
| TPR Tapestry Inc. | 0.18% | 9,178 | $600K | Reduce -11.7% |
Portfolio Sells Q3 2024 → Q4 2024
| MCHP Microchip Technology Inc. | Reduce -3.6% | 0.54% | −0.22 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -1.0% | 1.93% | −0.15 |
| IBM Intl Business Machines Corp. | Reduce -42.8% | 0.19% | −0.13 |
| AAPL Apple Inc. | Reduce -14.0% | 2.43% | −0.13 |
| IEF iShares 7-10 Year Treasury B | Reduce -6.7% | 0.99% | −0.10 |
| RAVI NT Ultrashrt Fi ETF | Reduce -14.6% | 0.63% | −0.09 |
| KLAC KLA Corp. | Reduce -2.0% | 0.38% | −0.08 |
| LOW Lowe's Cos Inc. | Reduce -1.1% | 0.96% | −0.08 |
| XLV SS Health Care Select Sector | Reduce -0.6% | 0.76% | −0.07 |
| T AT&T Inc. | Reduce -33.6% | 0.17% | −0.07 |
| BIIB Biogen Inc. | Sold out | 0.00% | −0.07 |
| LLY Eli Lilly & Co. | Reduce -2.0% | 0.48% | −0.07 |
| IGLB iShares 10+ Year Inv GR Corp. | Sold out | 0.00% | −0.07 |
| VAW Vanguard Materials ETF | Sold out | 0.00% | −0.07 |
| INTC Intel Corp. | Sold out | 0.00% | −0.07 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.07 |
| NUE Nucor Corp. | Sold out | 0.00% | −0.06 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.50% | −0.06 |
| SPEM State Street SP PTF Em ETF | Reduce -0.1% | 1.30% | −0.06 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.06 |
| LIN Linde PLC | Sold out | 0.00% | −0.06 |
| DHR Danaher Corp. | Reduce -0.3% | 0.31% | −0.06 |
| MBSD NT Disc Dur MBS ETF | Reduce -1.3% | 2.54% | −0.06 |
| XOM Exxon Mobil Corp. | Reduce -0.3% | 0.83% | −0.05 |
| PFE Pfizer Inc. | Reduce -3.8% | 0.49% | −0.05 |
| CAT Caterpillar Inc. | Reduce -0.0% | 0.91% | −0.04 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -0.6% | 0.59% | −0.04 |
| INDA iShares MSCI India ETF | Reduce -7.7% | 0.24% | −0.04 |
| ADBE Adobe Inc. | Reduce -1.9% | 0.26% | −0.04 |
| XLB SS Materials Select Sector | Reduce -0.3% | 0.33% | −0.04 |
| ICE Intercontinental Exchange Inc. | Reduce -1.3% | 0.61% | −0.04 |
| AMT American Tower Corp. | Reduce -1.7% | 0.15% | −0.04 |
| ABBV Abbvie Inc. | Reduce -1.4% | 0.38% | −0.04 |
| FCX Freeport-McMoran Inc. | Reduce -0.5% | 0.13% | −0.04 |
| MSFT Microsoft Corp. | Reduce -2.0% | 2.09% | −0.03 |
| CDW CDW Corp. | Reduce -2.8% | 0.09% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -0.3% | 0.16% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -1.7% | 0.17% | −0.02 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -15.4% | 0.12% | −0.02 |
| SPLB SS SPDR P Long Term C ETF | Reduce -0.3% | 0.35% | −0.02 |
| ORCL Oracle Corp. | Reduce -3.9% | 0.56% | −0.02 |
| ADI Analog Devices Inc. | Reduce -1.7% | 0.21% | −0.01 |
| MRSH Marsh & McLennan Cos | Reduce -2.1% | 0.32% | −0.01 |
| XLP SS Consumer Staples Sel Sect | Reduce -0.7% | 0.37% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -1.7% | 0.15% | −0.01 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -0.1% | 0.65% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -1.1% | 0.72% | −0.01 |
| XLI SS Industrial Select Sector | Reduce -1.9% | 0.53% | −0.01 |
| GE General Electric | Reduce -0.4% | 0.06% | −0.01 |
| HD Home Depot Inc. | Reduce -0.5% | 0.33% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| NVDA Nvidia Corp. | Add +3.1% | 1.94% | +0.29 |
| GOOGL Alphabet Inc. Class A | Add +3.9% | 1.36% | +0.24 |
| TDTT NT Iboxx 3Y Dur Tips ETF | Add +5.1% | 4.07% | +0.23 |
| AMZN Amazon.com Inc. | Add +2.3% | 1.01% | +0.19 |
| IEI iShares 3-7 Year Treasury Bo | Add +5.7% | 3.44% | +0.17 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 1.06% | +0.16 |
| HYGV NT HY Val-SCRD BD ETF | Add +3.2% | 4.00% | +0.14 |
| SHY iShares 1-3 Year Treasury Bo | Add +6.4% | 1.81% | +0.13 |
| COST Costco Wholesale Corp. | Add +40.2% | 0.35% | +0.12 |
| XLK SS Technology Select Sector | Add +0.3% | 1.72% | +0.10 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +5.1% | 1.59% | +0.09 |
| ACN Accenture PLC Class A | New | 0.08% | +0.08 |
| WFC Wells Fargo & Co. | Add +1.0% | 0.36% | +0.08 |
| EWC iShares MSCI Canada ETF | New | 0.07% | +0.07 |
| NOW ServiceNow Inc. | New | 0.07% | +0.07 |
| EWG iShares MSCI Germany ETF | New | 0.06% | +0.06 |
| ALL Allstate Corp. | Add +10.5% | 0.45% | +0.06 |
| PANW Palo Alto Networks Inc. | Add +17.0% | 0.23% | +0.05 |
| META Meta Platforms Inc. Class A | Add +1.4% | 0.76% | +0.05 |
| BLK BlackRock Finance Inc. | Add +8.1% | 0.26% | +0.04 |
| AVGO Broadcom Inc. | Add +4.4% | 0.13% | +0.04 |
| CMG Chipotle Mexican Grill Inc. | Add +8.8% | 0.24% | +0.03 |
| MBB iShares MBS ETF | Add +2.5% | 3.83% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +18.2% | 0.10% | +0.03 |
| MA Mastercard Inc. Class A | Add +1.0% | 0.33% | +0.03 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +13.8% | 0.56% | +0.03 |
| EWJ iShares MSCI Japan ETF | Add +32.6% | 0.12% | +0.03 |
| ADP Automatic Data Processing | Add +0.4% | 0.30% | +0.03 |
| HON Honeywell International Inc. | Add +1.1% | 0.21% | +0.03 |
| IGF iShares Global Infrastructur | Add +18.8% | 0.16% | +0.02 |
| JCI Johnson Controls Internation | Add +13.3% | 0.15% | +0.02 |
| EWQ iShares MSCI France ETF | Add +51.5% | 0.09% | +0.02 |
| GOOG Alphabet Inc. Class C | Add +1.0% | 0.15% | +0.02 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +0.9% | 1.24% | +0.02 |
| FLTW Franklin Ftse Taiwan ETF | Add +13.2% | 0.17% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +19.3% | 0.08% | +0.02 |
| ABT Abbott Laboratories | Add +0.6% | 0.76% | +0.02 |
| BMO Bank of Montreal | Add +4.2% | 0.13% | +0.02 |
| EWU iShares MSCI United Kingdom | Add +24.3% | 0.12% | +0.02 |
| EWL iShares MSCI Switzerland ETF | Add +35.1% | 0.08% | +0.01 |
| ICSH iShares Ultra Short Duration | Add +2.6% | 0.31% | +0.01 |
| VCR Vanguard Consumer Discre ETF | Add +0.1% | 0.09% | +0.01 |
| TLT iShares 20+ Year Treasury BD | Add +10.3% | 0.46% | +0.00 |
| XLE SS Energy Select Sector | Add +0.4% | 0.59% | +0.00 |
| COR Cencora Inc. | Add +0.6% | 0.13% | +0.00 |
| EWT iShares MSCI Taiwan ETF | Add +4.1% | 0.11% | +0.00 |
| MCHI iShares MSCI China ETF | Add +6.8% | 0.17% | +0.00 |
| HAL Halliburton Co. | Add +3.4% | 0.08% | −0.00 |
| MCD McDonald's Corp. | Add +1.9% | 0.17% | −0.00 |
| RTX RTX Corp. | Add +0.1% | 0.13% | −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 |