Denver PWM, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), Denver PWM, LLC reported 70 stock positions worth $277.9 million. Its top holding was Schwab US Large-Cap Growth (SCHG) at 9.4% of the portfolio, followed by Schwab US Large-Cap Value (SCHV, 6.1%) and iShares Ibonds Dec 2025 Term (IBTF, 5.9%). Compared with Q4 2024, it opened 5 new positions, sold out of 166, added to 47 and reduced 15. The biggest buy was Janus Henderson Aaa Clo ETF (JAAA, shares +34%) and the biggest sale Vanguard S&P 500 ETF (VOO, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001657980
- Portfolio Value
- $277.9M (Q1 2025)
- SEC Filing
- 0001420506-25-000901 ↗ filed May 7, 2025
Holdings Value
Holdings 70 stocks · $277.9M
| SCHG Schwab US Large-Cap Growth | 9.42% | 1,045,456 | $26.2M | Add +11.1% |
| SCHV Schwab US Large-Cap Value | 6.11% | 639,105 | $17.0M | Add +8.1% |
| IBTF iShares Ibonds Dec 2025 Term | 5.92% | 703,372 | $16.4M | Add +12.8% |
| SCHM Schwab US Mid Cap ETF | 5.85% | 620,349 | $16.3M | Add +9.0% |
| SCHF Schwab Intl Equity ETF | 5.66% | 795,514 | $15.7M | Add +2.3% |
| IBTG iShares Ibonds Dec 2026 Term | 5.60% | 678,753 | $15.6M | Add +10.3% |
| IBTH iShares Ibonds Dec 2027 Term | 5.52% | 684,449 | $15.3M | Add +10.8% |
| IBTI iShares Ibonds Dec 2028 Term | 5.52% | 689,290 | $15.3M | Add +11.2% |
| TOTL SS Doubleline TR Tact ETF | 5.36% | 369,501 | $14.9M | Add +3.7% |
| HEFA Isha Curr Hedged MSCI Eafe | 5.00% | 383,168 | $13.9M | Add +8.5% |
| IBTJ iShares Ibonds Dec 2029 Term | 4.93% | 629,081 | $13.7M | Add +13.9% |
| JAAA Janus Henderson Aaa Clo ETF | 3.81% | 208,800 | $10.6M | Add +33.7% |
| SMLF iShares US Smallcap Equity F | 2.81% | 125,466 | $7.8M | Add +10.1% |
| VOO Vanguard S&P 500 ETF | 2.36% | 12,766 | $6.6M | Reduce -33.4% |
| BOND PIMCO Active Bond Exchange-T | 2.35% | 70,577 | $6.5M | Reduce -1.9% |
| IJK iShares S&P Mid-Cap 400 Grow | 2.30% | 76,646 | $6.4M | Add +20.3% |
| JAVA JPMorgan Active Value ETF | 1.92% | 83,872 | $5.3M | Add +27.6% |
| SCHX Schwab US Large-Cap ETF | 1.55% | 194,492 | $4.3M | Reduce -1.0% |
| IUSV iShares Core S&P U.S. Value | 1.11% | 33,420 | $3.1M | Reduce -0.0% |
| EMXC iShares MSCI Emr MRK Ex Chna | 1.06% | 53,529 | $2.9M | Add +13.1% |
| AAPL Apple Inc. | 0.86% | 10,754 | $2.4M | Add +202.1% |
| IWR iShares Russell Mid-Cap ETF | 0.83% | 27,265 | $2.3M | Reduce -6.0% |
| ANGL Vaneck Fallen Angel High YLD | 0.80% | 77,495 | $2.2M | Add +4.9% |
| IEFA iShares Core MSCI Eafe ETF | 0.79% | 29,072 | $2.2M | Reduce -3.9% |
| IPAC iShares Core MSCI Pacific Et | 0.79% | 35,060 | $2.2M | Add +15.1% |
| EFA iShares MSCI Eafe ETF | 0.77% | 26,104 | $2.1M | Reduce -3.9% |
| IVV iShares Core S&P 500 ETF | 0.77% | 3,783 | $2.1M | Add +0.0% |
| HELO JPMorgan Hedged Equity ETF | 0.74% | 34,372 | $2.1M | Add +5.6% |
| SCHA Schwab US Small-Cap ETF | 0.71% | 83,752 | $2.0M | Reduce -0.3% |
| COST Costco Wholesale Corp. | 0.70% | 2,068 | $2.0M | Add +206700.0% |
| MSFT Microsoft Corp. | 0.63% | 4,681 | $1.8M | Add +147.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.57% | 3,361 | $1.6M | Add +2.9% |
| NVDA Nvidia Corp. | 0.54% | 13,859 | $1.5M | Add +24.7% |
| CAT Caterpillar Inc. | 0.49% | 4,150 | $1.4M | New |
| ORCL Oracle Corp. | 0.48% | 9,509 | $1.3M | Reduce -4.1% |
| XOM Exxon Mobil Corp. | 0.38% | 8,827 | $1.0M | Add +762.9% |
| IBHE iShares Ibonds 2025 H/Y Inc. | 0.36% | 42,634 | $991K | Reduce -1.9% |
| IWB iShares Russell 1000 ETF | 0.35% | 3,214 | $986K | Add +0.3% |
| IUSG iShares Core S&P U.S. Growth | 0.32% | 7,064 | $898K | Reduce -5.6% |
| VZ Verizon Communications Inc. | 0.31% | 19,266 | $874K | New |
| JBBB Janus Henderson B-BBB Clo Et | 0.26% | 15,023 | $731K | Add +2811.4% |
| SCHB Schwab US Broad Market ETF | 0.23% | 29,436 | $634K | Reduce -1.3% |
| AMZN Amazon.com Inc. | 0.21% | 3,094 | $589K | Add +131.9% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.21% | 2,654 | $589K | Reduce -10.7% |
| VEA Vanguard Ftse Developed ETF | 0.18% | 9,826 | $499K | No change |
| IWM iShares Russell 2000 ETF | 0.16% | 2,241 | $447K | Add +0.2% |
| TSLA Tesla Inc. | 0.15% | 1,571 | $407K | Add +0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 1,600 | $398K | New |
| BMY Bristol-Myers Squibb Co. | 0.14% | 6,150 | $375K | New |
| IEMG iShares Core MSCI Emerging | 0.13% | 6,768 | $365K | Reduce -0.2% |
| TXN Texas Instruments Inc. | 0.12% | 1,827 | $328K | Add +10.5% |
| JPM JPMorgan Chase & Co. | 0.12% | 1,311 | $322K | Add +110.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.11% | 1,839 | $318K | Add +0.6% |
| IVE iShares S&P 500 Value ETF | 0.11% | 1,609 | $307K | Add +10.3% |
| SCHW Schwab (charles) Corp. | 0.11% | 3,913 | $306K | Reduce -5.6% |
| HD Home Depot Inc. | 0.09% | 702 | $257K | Add +70100.0% |
| AMGN Amgen Inc. | 0.09% | 823 | $256K | Add +23.2% |
| WMT Walmart Inc. | 0.09% | 2,911 | $256K | Add +4.0% |
| FDX FedEx Corp. | 0.09% | 1,048 | $255K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.09% | 2,585 | $255K | Add +77.8% |
| CVS CVS Health Corp. | 0.09% | 3,759 | $255K | Add +41666.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.09% | 435 | $243K | Add +0.2% |
| GE General Electric filed as GE AEROSPACE | 0.09% | 1,183 | $237K | Add +73.5% |
| MDYG SS SPDR S&P 400 MC GR ETF | 0.08% | 2,922 | $232K | Add +0.9% |
| GILD Gilead Sciences Inc. | 0.08% | 2,000 | $224K | New |
| IJH iShares Core S&P Midcap ETF | 0.08% | 3,737 | $218K | Add +0.3% |
| GOOG Alphabet Inc. Class C | 0.08% | 1,338 | $209K | Add +3.0% |
| BA The Boeing Co. | 0.07% | 1,220 | $208K | Add +6000.0% |
| CVX Chevron Corp. | 0.07% | 1,241 | $208K | Add +4036.7% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.07% | 3,953 | $202K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| VOO Vanguard S&P 500 ETF | Reduce -33.4% | 2.36% | −1.63 |
| SCHX Schwab US Large-Cap ETF | Reduce -1.0% | 1.55% | −0.22 |
| BOND PIMCO Active Bond Exchange-T | Reduce -1.9% | 2.35% | −0.17 |
| ORCL Oracle Corp. | Reduce -4.1% | 0.48% | −0.16 |
| IWR iShares Russell Mid-Cap ETF | Reduce -6.0% | 0.83% | −0.16 |
| SCHA Schwab US Small-Cap ETF | Reduce -0.3% | 0.71% | −0.13 |
| IUSV iShares Core S&P U.S. Value | Reduce -0.0% | 1.11% | −0.09 |
| AXON Axon Enterprise Inc. | Sold out | 0.00% | −0.09 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.08 |
| IUSG iShares Core S&P U.S. Growth | Reduce -5.6% | 0.32% | −0.08 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.07 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -10.7% | 0.21% | −0.06 |
| VGT Vanguard Info Tech ETF | Sold out | 0.00% | −0.06 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.06 |
| IYC iShares US Consumer Discreti | Sold out | 0.00% | −0.05 |
| IWP iShares Russell Mid-Cap Grow | Sold out | 0.00% | −0.05 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.05 |
| SCHC Schwab Intl Small-Cap Equity | Sold out | 0.00% | −0.05 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Sold out | 0.00% | −0.04 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.04 |
| J Jacobs Solutions Inc. | Sold out | 0.00% | −0.04 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.04 |
| GLD SPDR Gold Shares | Sold out | 0.00% | −0.04 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.04 |
| BSJQ Invesco Bulletshares 2026 HY | Sold out | 0.00% | −0.03 |
| IYJ iShares U.S. Industrials ETF | Sold out | 0.00% | −0.03 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.03 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.03 |
| SCHB Schwab US Broad Market ETF | Reduce -1.3% | 0.23% | −0.03 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Reduce -1.9% | 0.36% | −0.03 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.03 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −0.03 |
| BIIB Biogen Inc. | Sold out | 0.00% | −0.03 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -3.9% | 0.79% | −0.03 |
| GEHC GE Healthcare Technology | Sold out | 0.00% | −0.03 |
| XEL Xcel Energy Inc. | Sold out | 0.00% | −0.03 |
| TSN Tyson Foods Inc. Class A | Sold out | 0.00% | −0.03 |
| USB US Bancorp | Sold out | 0.00% | −0.03 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.03 |
| COP Conocophillips | Sold out | 0.00% | −0.03 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.03 |
| IVW iShares S&P 500 Growth ETF | Sold out | 0.00% | −0.03 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −0.03 |
| EFA iShares MSCI Eafe ETF | Reduce -3.9% | 0.77% | −0.03 |
| PHO Invesco Water Resources ETF | Sold out | 0.00% | −0.03 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.03 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.02 |
| Z Zillow Group Inc. Class C | Sold out | 0.00% | −0.02 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.02 |
| FFIV F5 Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| JAAA Janus Henderson Aaa Clo ETF | Add +33.7% | 3.81% | +0.75 |
| COST Costco Wholesale Corp. | Add +206700.0% | 0.70% | +0.70 |
| AAPL Apple Inc. | Add +202.1% | 0.86% | +0.51 |
| CAT Caterpillar Inc. | New | 0.49% | +0.49 |
| IBTJ iShares Ibonds Dec 2029 Term | Add +13.9% | 4.93% | +0.37 |
| XOM Exxon Mobil Corp. | Add +762.9% | 0.38% | +0.34 |
| MSFT Microsoft Corp. | Add +147.0% | 0.63% | +0.32 |
| VZ Verizon Communications Inc. | New | 0.31% | +0.31 |
| JAVA JPMorgan Active Value ETF | Add +27.6% | 1.92% | +0.31 |
| IBTF iShares Ibonds Dec 2025 Term | Add +12.8% | 5.92% | +0.29 |
| IBTI iShares Ibonds Dec 2028 Term | Add +11.2% | 5.52% | +0.26 |
| HEFA Isha Curr Hedged MSCI Eafe | Add +8.5% | 5.00% | +0.25 |
| JBBB Janus Henderson B-BBB Clo Et | Add +2811.4% | 0.26% | +0.25 |
| IBTH iShares Ibonds Dec 2027 Term | Add +10.8% | 5.52% | +0.22 |
| IBTG iShares Ibonds Dec 2026 Term | Add +10.3% | 5.60% | +0.17 |
| SCHV Schwab US Large-Cap Value | Add +8.1% | 6.11% | +0.15 |
| IBM Intl Business Machines Corp. | New | 0.14% | +0.14 |
| BMY Bristol-Myers Squibb Co. | New | 0.14% | +0.14 |
| AMZN Amazon.com Inc. | Add +131.9% | 0.21% | +0.10 |
| SCHF Schwab Intl Equity ETF | Add +2.3% | 5.66% | +0.09 |
| HD Home Depot Inc. | Add +70100.0% | 0.09% | +0.09 |
| CVS CVS Health Corp. | Add +41666.7% | 0.09% | +0.09 |
| GILD Gilead Sciences Inc. | New | 0.08% | +0.08 |
| BA The Boeing Co. | Add +6000.0% | 0.07% | +0.07 |
| CVX Chevron Corp. | Add +4036.7% | 0.07% | +0.07 |
| IPAC iShares Core MSCI Pacific Et | Add +15.1% | 0.79% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +110.4% | 0.12% | +0.06 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +20.3% | 2.30% | +0.05 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +13.1% | 1.06% | +0.05 |
| GE General Electric | Add +73.5% | 0.09% | +0.04 |
| DIS The Walt Disney Co. | Add +77.8% | 0.09% | +0.03 |
| AMGN Amgen Inc. | Add +23.2% | 0.09% | +0.02 |
| IVE iShares S&P 500 Value ETF | Add +10.3% | 0.11% | +0.00 |
| TXN Texas Instruments Inc. | Add +10.5% | 0.12% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +0.6% | 0.11% | −0.01 |
| WMT Walmart Inc. | Add +4.0% | 0.09% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.2% | 0.09% | −0.01 |
| IJH iShares Core S&P Midcap ETF | Add +0.3% | 0.08% | −0.01 |
| MDYG SS SPDR S&P 400 MC GR ETF | Add +0.9% | 0.08% | −0.01 |
| ANGL Vaneck Fallen Angel High YLD | Add +4.9% | 0.80% | −0.02 |
| GOOG Alphabet Inc. Class C | Add +3.0% | 0.08% | −0.02 |
| IWM iShares Russell 2000 ETF | Add +0.2% | 0.16% | −0.03 |
| NVDA Nvidia Corp. | Add +24.7% | 0.54% | −0.04 |
| HELO JPMorgan Hedged Equity ETF | Add +5.6% | 0.74% | −0.04 |
| IWB iShares Russell 1000 ETF | Add +0.3% | 0.35% | −0.04 |
| TOTL SS Doubleline TR Tact ETF | Add +3.7% | 5.36% | −0.08 |
| QQQ Invesco QQQ Trust Series 1 | Add +2.9% | 0.57% | −0.08 |
| IVV iShares Core S&P 500 ETF | Add +0.0% | 0.77% | −0.10 |
| TSLA Tesla Inc. | Add +0.6% | 0.15% | −0.10 |
| SMLF iShares US Smallcap Equity F | Add +10.1% | 2.81% | −0.17 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 89 | $305.7M | SCHG, SCHV, SCHM, IBTH, HEFA |
| Q1 2026 | 87 | $290.9M | SCHG, SCHM, IBTH, SCHV, IBTG |
| Q4 2025 | 76 | $299.4M | SCHG, SCHV, SCHM, SCHF, IBTG |
| Q3 2025 | 78 | $320.7M | SCHG, IBTF, SCHV, SCHM, SCHF |
| Q2 2025 | 78 | $320.7M | SCHG, IBTF, SCHV, SCHM, SCHF |
| Q1 2025 | 70 | $277.9M | SCHG, SCHV, IBTF, SCHM, SCHF |
| Q4 2024 | 231 | $258.4M | SCHG, SCHM, SCHV, IBTF, SCHF |
| Q3 2024Amended | 159 | $263.3M | SCHG, SCHF, SCHV, SCHM, TOTL |
| Q2 2024 | 234 | $250.7M | SCHG, SCHF, SCHV, SCHM, IBTE |
| Q1 2024 | 95 | $258.7M | SCHG, SCHWAB INTERNATIONAL EQUITY ETF, SCHM, SCHV, IBIT |