Boltwood Capital Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 2, 2026), Boltwood Capital Management reported 182 stock positions worth $384.6 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 7.2% of the portfolio, followed by NT Iboxx 3Y Dur Tips ETF (TDTT, 4.9%) and iShares MBS ETF (MBB, 3.2%). Compared with Q3 2025, it opened 8 new positions, sold out of 4, added to 79 and reduced 78. The biggest buy was Alphabet Class A (GOOGL, shares +1%) and the biggest sale Oracle (ORCL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- WALNUT CREEK, CA
- CIK
- 0001563690
- Portfolio Value
- $384.6M (Q4 2025)
- SEC Filing
- 0001563690-26-000001 ↗ filed Jan 2, 2026
Holdings Value
Holdings 182 stocks · $384.6M
| SCHF Schwab Intl Equity ETF | 7.16% | 1,144,813 | $27.5M | Reduce -0.1% |
| TDTT NT Iboxx 3Y Dur Tips ETF | 4.93% | 788,682 | $19.0M | Add +6.7% |
| MBB iShares MBS ETF | 3.24% | 130,677 | $12.4M | Add +1.5% |
| SPDW Ste STR SPDR PT DW Eu ETF | 3.18% | 275,270 | $12.2M | Reduce -0.5% |
| HYGV NT HY Val-SCRD BD ETF | 3.11% | 293,872 | $12.0M | Add +3.1% |
| IEI iShares 3-7 Year Treasury Bo | 3.05% | 98,283 | $11.7M | Add +2.6% |
| AAPL Apple Inc. | 2.57% | 36,374 | $9.9M | Reduce -0.1% |
| NVDA Nvidia Corp. | 2.50% | 51,519 | $9.6M | Reduce -0.1% |
| MSFT Microsoft Corp. | 2.30% | 18,290 | $8.8M | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 2.14% | 26,303 | $8.2M | Add +1.2% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 2.06% | 241,731 | $7.9M | Reduce -0.1% |
| XLK SS Technology Select Sector | 2.03% | 54,098 | $7.8M | Add +0.6% |
| IJH iShares Core S&P Midcap ETF | 2.01% | 116,985 | $7.7M | Add +1.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.89% | 90,035 | $7.3M | Add +2.4% |
| IJR iShares Core S&P Small-Cap E | 1.77% | 56,621 | $6.8M | Add +0.9% |
| SHY iShares 1-3 Year Treasury Bo | 1.70% | 79,010 | $6.5M | Add +3.0% |
| MBSD NT Disc Dur MBS ETF | 1.69% | 311,988 | $6.5M | Reduce -6.9% |
| JPM JPMorgan Chase & Co. | 1.41% | 16,852 | $5.4M | Reduce -0.6% |
| GUNR NT Mstar GLBL NR ETF | 1.38% | 115,703 | $5.3M | Reduce -1.3% |
| SPEM State Street SP PTF Em ETF | 1.35% | 110,800 | $5.2M | Reduce -0.1% |
| NFRA NT GLBL BRD Infra ETF | 1.29% | 82,289 | $5.0M | Add +1.5% |
| GQRE NT GLBL Qual Re ETF | 1.25% | 81,539 | $4.8M | Add +2.9% |
| CAT Caterpillar Inc. | 1.17% | 7,846 | $4.5M | Reduce -1.4% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.13% | 82,365 | $4.4M | Add +2.5% |
| SPMB SS SPDR P Mort Back Bond ETF | 1.07% | 184,236 | $4.1M | Add +17.6% |
| AMZN Amazon.com Inc. | 1.05% | 17,433 | $4.0M | Add +1.9% |
| SKOR NT Crdscr US Corp. BD ETF | 1.01% | 79,316 | $3.9M | Add +0.5% |
| CVX Chevron Corp. | 0.90% | 22,785 | $3.5M | Add +0.1% |
| SCHA Schwab US Small-Cap ETF | 0.85% | 114,620 | $3.3M | Add +1.1% |
| META Meta Platforms Inc. Class A | 0.80% | 4,669 | $3.1M | Add +1.6% |
| EFA iShares MSCI Eafe ETF | 0.80% | 32,082 | $3.1M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 0.79% | 25,335 | $3.0M | Add +0.0% |
| XLY SS Consumer Disc Select Sect | 0.78% | 25,133 | $3.0M | Add +0.4% |
| LOW Lowe's Cos Inc. | 0.76% | 12,058 | $2.9M | Reduce -1.2% |
| XLV SS Health Care Select Sector | 0.76% | 18,776 | $2.9M | Add +1.3% |
| IEF iShares 7-10 Year Treasury B | 0.72% | 28,900 | $2.8M | Add +1.4% |
| SCHM Schwab US Mid Cap ETF | 0.71% | 90,974 | $2.7M | Add +2.5% |
| SCHB Schwab US Broad Market ETF | 0.70% | 103,306 | $2.7M | Reduce -2.3% |
| GNR State Street SPDR S&P Global | 0.69% | 42,575 | $2.6M | Reduce -5.0% |
| AXP American Express Co. | 0.69% | 7,135 | $2.6M | Reduce -1.4% |
| ABT Abbott Laboratories | 0.65% | 19,888 | $2.5M | Reduce -8.2% |
| CRM Salesforce Inc. | 0.63% | 9,151 | $2.4M | Reduce -0.9% |
| XLF SS Financial Select Sector | 0.63% | 44,106 | $2.4M | Add +1.4% |
| KLAC KLA Corp. | 0.62% | 1,969 | $2.4M | Add +0.8% |
| XLC SS Comm Select Sector SPDR | 0.59% | 19,324 | $2.3M | Add +3.2% |
| XLI SS Industrial Select Sector | 0.56% | 13,841 | $2.1M | Add +1.1% |
| WMT Walmart Inc. | 0.55% | 18,885 | $2.1M | Reduce -2.9% |
| VEU Vanguard Ftse All-World Ex-U | 0.54% | 28,204 | $2.1M | Reduce -3.3% |
| LLY Eli Lilly & Co. | 0.53% | 1,885 | $2.0M | Reduce -2.5% |
| ICE Intercontinental Exchange Inc. | 0.51% | 12,197 | $2.0M | Reduce -2.5% |
| PG The Procter & Gamble Co. | 0.51% | 13,578 | $1.9M | Reduce -1.7% |
| ORCL Oracle Corp. | 0.50% | 9,931 | $1.9M | Reduce -0.9% |
| XLE SS Energy Select Sector | 0.50% | 43,097 | $1.9M | Reduce -0.9% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.50% | 72,250 | $1.9M | Add +0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.49% | 12,146 | $1.9M | Reduce -1.2% |
| KO The Coca-Cola Co. | 0.48% | 26,358 | $1.8M | Add +0.1% |
| AMD Advanced Micro Devices | 0.46% | 8,231 | $1.8M | Add +1.4% |
| TLT iShares 20+ Year Treasury BD | 0.43% | 19,064 | $1.7M | Add +8.4% |
| WFC Wells Fargo & Co. | 0.42% | 17,165 | $1.6M | Reduce -0.3% |
| ABBV Abbvie Inc. | 0.41% | 6,880 | $1.6M | Reduce -0.2% |
| RTX RTX Corp. | 0.41% | 8,545 | $1.6M | Add +0.5% |
| RAVI NT Ultrashrt Fi ETF | 0.39% | 20,073 | $1.5M | Reduce -1.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.38% | 12,996 | $1.5M | Reduce -3.2% |
| ALL Allstate Corp. | 0.38% | 7,049 | $1.5M | Reduce -1.5% |
| PFE Pfizer Inc. | 0.38% | 58,209 | $1.4M | Reduce -0.1% |
| MA Mastercard Inc. Class A | 0.36% | 2,457 | $1.4M | Reduce -1.0% |
| COST Costco Wholesale Corp. | 0.36% | 1,611 | $1.4M | Add +3.4% |
| BX Blackstone Inc. | 0.36% | 8,937 | $1.4M | Reduce -0.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.34% | 24,538 | $1.3M | Add +2.7% |
| SUB iShares Short-Term National | 0.33% | 11,855 | $1.3M | Add +3.7% |
| STIP iShares 0-5 Year Tips Bond E | 0.32% | 12,025 | $1.2M | Add +26.6% |
| XLP SS Consumer Staples Sel Sect | 0.32% | 15,779 | $1.2M | Add +0.7% |
| AVGO Broadcom Inc. | 0.31% | 3,458 | $1.2M | Add +2.3% |
| RWO State Street SPDR Dow Jones | 0.31% | 26,245 | $1.2M | Add +5.7% |
| SPTI SS SPDR P Int Term TSY ETF | 0.31% | 40,900 | $1.2M | No change |
| MCHI iShares MSCI China ETF | 0.27% | 17,475 | $1.0M | Add +0.7% |
| INDA iShares MSCI India ETF | 0.27% | 19,225 | $1.0M | Reduce -1.0% |
| ICSH iShares Ultra Short Duration | 0.27% | 20,455 | $1.0M | Reduce -2.6% |
| SPLB SS SPDR P Long Term C ETF | 0.27% | 45,200 | $1.0M | Reduce -1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.26% | 2,026 | $1.0M | Reduce -1.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.26% | 3,037 | $1.0M | Reduce -3.1% |
| FLCH Franklin Ftse China ETF | 0.26% | 42,750 | $1.0M | Add +0.5% |
| DHR Danaher Corp. | 0.26% | 4,375 | $1.0M | Reduce -0.3% |
| TPR Tapestry Inc. | 0.25% | 7,663 | $979K | Reduce -5.3% |
| HD Home Depot Inc. | 0.25% | 2,840 | $977K | Add +2.9% |
| XLB SS Materials Select Sector | 0.25% | 21,142 | $959K | Reduce -4.1% |
| TSLA Tesla Inc. | 0.25% | 2,120 | $953K | Add +1.2% |
| MCHP Microchip Technology Inc. | 0.24% | 14,479 | $923K | Reduce -3.1% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.23% | 21,161 | $903K | Add +0.5% |
| CSCO Cisco Systems Inc. | 0.23% | 11,675 | $899K | Reduce -0.3% |
| JNJ Johnson & Johnson | 0.23% | 4,263 | $882K | Add +1.3% |
| GOOG Alphabet Inc. Class C | 0.22% | 2,750 | $863K | Add +1.5% |
| CME Cme Group Inc. | 0.22% | 3,120 | $852K | Add +0.2% |
| BA The Boeing Co. | 0.22% | 3,836 | $833K | Add +3.9% |
| MRSH Marsh & McLennan Cos | 0.22% | 4,473 | $830K | Reduce -1.2% |
| ADP Automatic Data Processing | 0.21% | 3,211 | $826K | Add +0.2% |
| IGF iShares Global Infrastructur | 0.21% | 13,330 | $818K | Add +4.1% |
| ADI Analog Devices Inc. | 0.20% | 2,886 | $783K | Add +1.2% |
| SCHW Schwab (charles) Corp. | 0.20% | 7,781 | $777K | Reduce -0.9% |
| FLTW Franklin Ftse Taiwan ETF | 0.20% | 12,700 | $773K | Add +0.4% |
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -0.9% | 0.50% | −0.25 |
| MBSD NT Disc Dur MBS ETF | Reduce -6.9% | 1.69% | −0.18 |
| ABT Abbott Laboratories | Reduce -8.2% | 0.65% | −0.12 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.12 |
| HON Honeywell International Inc. | Reduce -50.2% | 0.08% | −0.10 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -0.1% | 2.06% | −0.09 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.06 |
| CMG Chipotle Mexican Grill Inc. | Reduce -42.7% | 0.07% | −0.06 |
| NVDA Nvidia Corp. | Reduce -0.1% | 2.50% | −0.06 |
| LOW Lowe's Cos Inc. | Reduce -1.2% | 0.76% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -1.7% | 0.51% | −0.06 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.06 |
| VAW Vanguard Materials ETF | Sold out | 0.00% | −0.05 |
| BX Blackstone Inc. | Reduce -0.1% | 0.36% | −0.05 |
| ICE Intercontinental Exchange Inc. | Reduce -2.5% | 0.51% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -4.3% | 0.18% | −0.04 |
| SPEM State Street SP PTF Em ETF | Reduce -0.1% | 1.35% | −0.03 |
| BLK BlackRock Inc. | Reduce -4.8% | 0.18% | −0.03 |
| ALL Allstate Corp. | Reduce -1.5% | 0.38% | −0.03 |
| MRSH Marsh & McLennan Cos | Reduce -1.2% | 0.22% | −0.03 |
| PANW Palo Alto Networks Inc. | Reduce -0.5% | 0.19% | −0.03 |
| DIS The Walt Disney Co. | Reduce -3.2% | 0.38% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -4.0% | 0.10% | −0.02 |
| T AT&T Inc. | Reduce -1.4% | 0.13% | −0.02 |
| SCHB Schwab US Broad Market ETF | Reduce -2.3% | 0.70% | −0.02 |
| RAVI NT Ultrashrt Fi ETF | Reduce -1.9% | 0.39% | −0.02 |
| PFE Pfizer Inc. | Reduce -0.1% | 0.38% | −0.02 |
| GNR State Street SPDR S&P Global | Reduce -5.0% | 0.69% | −0.02 |
| AMT American Tower Corp. | Reduce -2.7% | 0.12% | −0.02 |
| NSC Norfolk Southern Corp. | Reduce -2.8% | 0.18% | −0.02 |
| XLRE SS Real Estate Select Sector | Reduce -2.9% | 0.16% | −0.02 |
| ABBV Abbvie Inc. | Reduce -0.2% | 0.41% | −0.02 |
| SPLB SS SPDR P Long Term C ETF | Reduce -1.2% | 0.27% | −0.02 |
| XLE SS Energy Select Sector | Reduce -0.9% | 0.50% | −0.02 |
| MCHP Microchip Technology Inc. | Reduce -3.1% | 0.24% | −0.02 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -3.3% | 0.54% | −0.01 |
| ICSH iShares Ultra Short Duration | Reduce -2.6% | 0.27% | −0.01 |
| XLB SS Materials Select Sector | Reduce -4.1% | 0.25% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.6% | 1.41% | −0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -2.8% | 0.11% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -1.0% | 0.36% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.6% | 0.26% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.1% | 0.26% | −0.01 |
| ADBE Adobe Inc. | Reduce -1.5% | 0.17% | −0.01 |
| ACN Accenture PLC Class A | Reduce -8.7% | 0.10% | −0.00 |
| VDE Vanguard Energy ETF | Reduce -2.0% | 0.06% | −0.00 |
| VGT Vanguard Info Tech ETF | Reduce -0.6% | 0.11% | −0.00 |
| VOX Vanguard Communication Servi | Reduce -2.6% | 0.10% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -0.2% | 0.19% | −0.00 |
| PEP Pepsico Inc. | Reduce -0.5% | 0.19% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +1.2% | 2.14% | +0.46 |
| TDTT NT Iboxx 3Y Dur Tips ETF | Add +6.7% | 4.93% | +0.15 |
| SPMB SS SPDR P Mort Back Bond ETF | Add +17.6% | 1.07% | +0.14 |
| AMD Advanced Micro Devices | Add +1.4% | 0.46% | +0.11 |
| KKR KKR & Co. Inc. | New | 0.07% | +0.07 |
| XLV SS Health Care Select Sector | Add +1.3% | 0.76% | +0.07 |
| EMR Emerson Electric Co. | New | 0.07% | +0.07 |
| NUE Nucor Corp. | New | 0.06% | +0.06 |
| KLAC KLA Corp. | Add +0.8% | 0.62% | +0.06 |
| MDT Medtronic PLC | New | 0.06% | +0.06 |
| INTU Intuit Inc. | New | 0.06% | +0.06 |
| STIP iShares 0-5 Year Tips Bond E | Add +26.6% | 0.32% | +0.06 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.06% | +0.06 |
| V Visa Inc. Class A | New | 0.05% | +0.05 |
| BIIB Biogen Inc. | New | 0.05% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +1.5% | 0.22% | +0.05 |
| AMZN Amazon.com Inc. | Add +1.9% | 1.05% | +0.05 |
| XOM Exxon Mobil Corp. | Add +0.0% | 0.79% | +0.03 |
| RTX RTX Corp. | Add +0.5% | 0.41% | +0.03 |
| JNJ Johnson & Johnson | Add +1.3% | 0.23% | +0.02 |
| FLKR Franklin Ftse South Korea | Add +1.2% | 0.14% | +0.02 |
| ADI Analog Devices Inc. | Add +1.2% | 0.20% | +0.02 |
| C Citigroup Inc. | Add +2.6% | 0.12% | +0.02 |
| KO The Coca-Cola Co. | Add +0.1% | 0.48% | +0.01 |
| AVGO Broadcom Inc. | Add +2.3% | 0.31% | +0.01 |
| PLD Prologis Inc. | Add +0.3% | 0.17% | +0.01 |
| TLT iShares 20+ Year Treasury BD | Add +8.4% | 0.43% | +0.01 |
| EWU iShares MSCI United Kingdom | Add +5.5% | 0.15% | +0.01 |
| SCHM Schwab US Mid Cap ETF | Add +2.5% | 0.71% | +0.01 |
| NFLX Netflix Inc. | Add +46.4% | 0.10% | +0.01 |
| CMF iShares California Muni Bond | Add +7.4% | 0.17% | +0.01 |
| EWC iShares MSCI Canada ETF | Add +7.6% | 0.08% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +1.1% | 0.10% | +0.01 |
| EWL iShares MSCI Switzerland ETF | Add +3.4% | 0.09% | +0.01 |
| SHY iShares 1-3 Year Treasury Bo | Add +3.0% | 1.70% | +0.01 |
| MUB iShares National Muni Bond E | Add +15.9% | 0.06% | +0.01 |
| XLK SS Technology Select Sector | Add +0.6% | 2.03% | +0.01 |
| SCHA Schwab US Small-Cap ETF | Add +1.1% | 0.85% | +0.01 |
| EWJ iShares MSCI Japan ETF | Add +7.7% | 0.12% | +0.01 |
| CVS CVS Health Corp. | Add +0.7% | 0.18% | +0.01 |
| FTV Fortive Corp. | Add +0.9% | 0.06% | +0.01 |
| INTC Intel Corp. | Add +0.7% | 0.07% | +0.01 |
| RWO State Street SPDR Dow Jones | Add +5.7% | 0.31% | +0.00 |
| BA The Boeing Co. | Add +3.9% | 0.22% | +0.00 |
| IGF iShares Global Infrastructur | Add +4.1% | 0.21% | +0.00 |
| XLF SS Financial Select Sector | Add +1.4% | 0.63% | +0.00 |
| SUB iShares Short-Term National | Add +3.7% | 0.33% | +0.00 |
| EWQ iShares MSCI France ETF | Add +3.2% | 0.11% | +0.00 |
| FLTW Franklin Ftse Taiwan ETF | Add +0.4% | 0.20% | +0.00 |
| EWG iShares MSCI Germany ETF | Add +3.6% | 0.10% | +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 |