Denver PWM, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Denver PWM, LLC reported 78 stock positions worth $320.7 million. Its top holding was Schwab US Large-Cap Growth (SCHG) at 9.8% of the portfolio, followed by iShares Ibonds Dec 2025 Term (IBTF, 6.4%) and Schwab US Large-Cap Value (SCHV, 5.7%). Compared with Q1 2025, it opened 10 new positions, sold out of 2, added to 47 and reduced 16. The biggest buy was a new position in Newsmax (NMAX) and the biggest sale PIMCO Active Bond Exchange-T (BOND, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001657980
- Portfolio Value
- $320.7M (Q2 2025)
- SEC Filing
- 0001420506-25-001983 ↗ filed Aug 14, 2025
Holdings Value
Holdings 78 stocks · $320.7M
| SCHG Schwab US Large-Cap Growth | 9.83% | 1,079,507 | $31.5M | Add +3.3% |
| IBTF iShares Ibonds Dec 2025 Term | 6.38% | 875,124 | $20.4M | Add +24.4% |
| SCHV Schwab US Large-Cap Value | 5.71% | 661,712 | $18.3M | Add +3.5% |
| SCHM Schwab US Mid Cap ETF | 5.69% | 650,802 | $18.3M | Add +4.9% |
| SCHF Schwab Intl Equity ETF | 5.59% | 810,422 | $17.9M | Add +1.9% |
| IBTG iShares Ibonds Dec 2026 Term | 5.58% | 780,842 | $17.9M | Add +15.0% |
| IBTI iShares Ibonds Dec 2028 Term | 5.23% | 750,016 | $16.8M | Add +8.8% |
| IBTH iShares Ibonds Dec 2027 Term | 5.21% | 743,351 | $16.7M | Add +8.6% |
| TOTL SS Doubleline TR Tact ETF | 4.98% | 397,767 | $16.0M | Add +7.7% |
| HEFA Isha Curr Hedged MSCI Eafe | 4.79% | 404,319 | $15.3M | Add +5.5% |
| IBTJ iShares Ibonds Dec 2029 Term | 4.72% | 690,448 | $15.1M | Add +9.8% |
| JAAA Janus Henderson Aaa Clo ETF | 3.57% | 225,355 | $11.4M | Add +7.9% |
| SMLF iShares US Smallcap Equity F | 2.78% | 131,398 | $8.9M | Add +4.7% |
| VOO Vanguard S&P 500 ETF | 2.47% | 13,966 | $7.9M | Add +9.4% |
| IJK iShares S&P Mid-Cap 400 Grow | 2.32% | 81,628 | $7.4M | Add +6.5% |
| BOND PIMCO Active Bond Exchange-T | 1.96% | 68,088 | $6.3M | Reduce -3.5% |
| JAVA JPMorgan Active Value ETF | 1.73% | 84,580 | $5.5M | Add +0.8% |
| SCHX Schwab US Large-Cap ETF | 1.48% | 194,411 | $4.8M | Reduce -0.0% |
| AAPL Apple Inc. | 1.18% | 18,389 | $3.8M | Add +71.0% |
| EMXC iShares MSCI Emr MRK Ex Chna | 1.08% | 54,637 | $3.4M | Add +2.1% |
| IUSV iShares Core S&P U.S. Value | 0.97% | 32,954 | $3.1M | Reduce -1.4% |
| MSFT Microsoft Corp. | 0.96% | 6,200 | $3.1M | Add +32.5% |
| NVDA Nvidia Corp. | 0.82% | 16,721 | $2.6M | Add +20.6% |
| IPAC iShares Core MSCI Pacific Et | 0.81% | 37,724 | $2.6M | Add +7.6% |
| ANGL Vaneck Fallen Angel High YLD | 0.76% | 83,558 | $2.4M | Add +7.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.76% | 29,189 | $2.4M | Add +0.4% |
| IWR iShares Russell Mid-Cap ETF | 0.76% | 26,450 | $2.4M | Reduce -3.0% |
| ORCL Oracle Corp. | 0.72% | 10,600 | $2.3M | Add +11.5% |
| IVV iShares Core S&P 500 ETF | 0.72% | 3,719 | $2.3M | Reduce -1.7% |
| HELO JPMorgan Hedged Equity ETF | 0.71% | 36,638 | $2.3M | Add +6.6% |
| EFA iShares MSCI Eafe ETF | 0.70% | 24,995 | $2.2M | Reduce -4.3% |
| COST Costco Wholesale Corp. | 0.69% | 2,250 | $2.2M | Add +8.8% |
| SCHA Schwab US Small-Cap ETF | 0.64% | 81,392 | $2.1M | Reduce -2.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.58% | 3,360 | $1.9M | Reduce -0.0% |
| NMAX Newsmax Inc. | 0.51% | 107,741 | $1.6M | New |
| CAT Caterpillar Inc. | 0.50% | 4,150 | $1.6M | No change |
| IWB iShares Russell 1000 ETF | 0.34% | 3,222 | $1.1M | Add +0.3% |
| IUSG iShares Core S&P U.S. Growth | 0.33% | 6,934 | $1.0M | Reduce -1.8% |
| XOM Exxon Mobil Corp. | 0.32% | 9,431 | $1.0M | Add +6.8% |
| AMZN Amazon.com Inc. | 0.27% | 3,999 | $877K | Add +29.3% |
| IBHE iShares Ibonds 2025 H/Y Inc. | 0.27% | 37,447 | $871K | Reduce -12.2% |
| JBBB Janus Henderson B-BBB Clo Et | 0.27% | 18,023 | $869K | Add +20.0% |
| VZ Verizon Communications Inc. | 0.27% | 19,906 | $861K | Add +3.3% |
| SCHB Schwab US Broad Market ETF | 0.22% | 29,523 | $704K | Add +0.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.19% | 2,633 | $624K | Reduce -0.8% |
| VEA Vanguard Ftse Developed ETF | 0.18% | 9,897 | $564K | Add +0.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.17% | 1,225 | $537K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.17% | 1,800 | $531K | Add +12.5% |
| JPM JPMorgan Chase & Co. | 0.16% | 1,747 | $507K | Add +33.3% |
| TSLA Tesla Inc. | 0.16% | 1,571 | $499K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.15% | 4,000 | $496K | Add +54.7% |
| HD Home Depot Inc. | 0.15% | 1,337 | $490K | Add +90.5% |
| META Meta Platforms Inc. Class A | 0.13% | 552 | $408K | New |
| AVGO Broadcom Inc. | 0.12% | 1,415 | $390K | New |
| BA The Boeing Co. | 0.12% | 1,848 | $387K | Add +51.5% |
| IEMG iShares Core MSCI Emerging | 0.11% | 6,084 | $365K | Reduce -10.1% |
| IWM iShares Russell 2000 ETF | 0.11% | 1,661 | $358K | Reduce -25.9% |
| IVE iShares S&P 500 Value ETF | 0.11% | 1,828 | $357K | Add +13.6% |
| SCHW Schwab (charles) Corp. | 0.11% | 3,915 | $357K | Add +0.1% |
| CVS CVS Health Corp. | 0.11% | 5,162 | $356K | Add +37.3% |
| TXN Texas Instruments Inc. | 0.11% | 1,701 | $353K | Reduce -6.9% |
| GOOGL Alphabet Inc. Class A | 0.11% | 1,936 | $341K | New |
| GE General Electric filed as GE AEROSPACE | 0.10% | 1,293 | $333K | Add +9.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.10% | 1,817 | $321K | Reduce -1.2% |
| BMY Bristol-Myers Squibb Co. | 0.10% | 6,900 | $319K | Add +12.2% |
| AXON Axon Enterprise Inc. | 0.09% | 360 | $298K | New |
| PG The Procter & Gamble Co. | 0.09% | 1,861 | $296K | New |
| AMGN Amgen Inc. | 0.09% | 1,028 | $287K | Add +24.9% |
| WMT Walmart Inc. | 0.09% | 2,917 | $285K | Add +0.2% |
| BND Vanguard Total Bond Market | 0.09% | 3,861 | $284K | New |
| WFC Wells Fargo & Co. | 0.09% | 3,496 | $280K | New |
| MDYG SS SPDR S&P 400 MC GR ETF | 0.08% | 2,942 | $256K | Add +0.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.08% | 1,085 | $246K | New |
| FDX FedEx Corp. | 0.07% | 1,048 | $238K | No change |
| GOOG Alphabet Inc. Class C | 0.07% | 1,341 | $238K | Add +0.2% |
| GILD Gilead Sciences Inc. | 0.07% | 2,000 | $222K | No change |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.07% | 3,953 | $215K | No change |
| IJH iShares Core S&P Midcap ETF | 0.07% | 3,398 | $211K | Reduce -9.1% |
Portfolio Sells Q1 2025 → Q2 2025
| BOND PIMCO Active Bond Exchange-T | Reduce -3.5% | 1.96% | −0.39 |
| IUSV iShares Core S&P U.S. Value | Reduce -1.4% | 0.97% | −0.14 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.09 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Reduce -12.2% | 0.27% | −0.09 |
| IWR iShares Russell Mid-Cap ETF | Reduce -3.0% | 0.76% | −0.08 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.07 |
| EFA iShares MSCI Eafe ETF | Reduce -4.3% | 0.70% | −0.07 |
| SCHA Schwab US Small-Cap ETF | Reduce -2.8% | 0.64% | −0.06 |
| SCHX Schwab US Large-Cap ETF | Reduce -0.0% | 1.48% | −0.06 |
| IWM iShares Russell 2000 ETF | Reduce -25.9% | 0.11% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -1.7% | 0.72% | −0.04 |
| IEMG iShares Core MSCI Emerging | Reduce -10.1% | 0.11% | −0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.8% | 0.19% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.2% | 0.10% | −0.01 |
| IJH iShares Core S&P Midcap ETF | Reduce -9.1% | 0.07% | −0.01 |
| TXN Texas Instruments Inc. | Reduce -6.9% | 0.11% | −0.01 |
| IUSG iShares Core S&P U.S. Growth | Reduce -1.8% | 0.33% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.0% | 0.58% | +0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| NMAX Newsmax Inc. | New | 0.51% | +0.51 |
| IBTF iShares Ibonds Dec 2025 Term | Add +24.4% | 6.38% | +0.46 |
| SCHG Schwab US Large-Cap Growth | Add +3.3% | 9.83% | +0.41 |
| MSFT Microsoft Corp. | Add +32.5% | 0.96% | +0.33 |
| AAPL Apple Inc. | Add +71.0% | 1.18% | +0.32 |
| NVDA Nvidia Corp. | Add +20.6% | 0.82% | +0.28 |
| ORCL Oracle Corp. | Add +11.5% | 0.72% | +0.24 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.17% | +0.17 |
| META Meta Platforms Inc. Class A | New | 0.13% | +0.13 |
| AVGO Broadcom Inc. | New | 0.12% | +0.12 |
| VOO Vanguard S&P 500 ETF | Add +9.4% | 2.47% | +0.11 |
| GOOGL Alphabet Inc. Class A | New | 0.11% | +0.11 |
| AXON Axon Enterprise Inc. | New | 0.09% | +0.09 |
| PG The Procter & Gamble Co. | New | 0.09% | +0.09 |
| BND Vanguard Total Bond Market | New | 0.09% | +0.09 |
| WFC Wells Fargo & Co. | New | 0.09% | +0.09 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.08% | +0.08 |
| DIS The Walt Disney Co. | Add +54.7% | 0.15% | +0.06 |
| AMZN Amazon.com Inc. | Add +29.3% | 0.27% | +0.06 |
| HD Home Depot Inc. | Add +90.5% | 0.15% | +0.06 |
| BA The Boeing Co. | Add +51.5% | 0.12% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +33.3% | 0.16% | +0.04 |
| IPAC iShares Core MSCI Pacific Et | Add +7.6% | 0.81% | +0.02 |
| IBM Intl Business Machines Corp. | Add +12.5% | 0.17% | +0.02 |
| CVS CVS Health Corp. | Add +37.3% | 0.11% | +0.02 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +6.5% | 2.32% | +0.02 |
| GE General Electric | Add +9.3% | 0.10% | +0.02 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +2.1% | 1.08% | +0.01 |
| JBBB Janus Henderson B-BBB Clo Et | Add +20.0% | 0.27% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +0.1% | 0.11% | +0.00 |
| IVE iShares S&P 500 Value ETF | Add +13.6% | 0.11% | +0.00 |
| GOOG Alphabet Inc. Class C | Add +0.2% | 0.07% | −0.00 |
| AMGN Amgen Inc. | Add +24.9% | 0.09% | −0.00 |
| WMT Walmart Inc. | Add +0.2% | 0.09% | −0.00 |
| MDYG SS SPDR S&P 400 MC GR ETF | Add +0.7% | 0.08% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Add +0.7% | 0.18% | −0.00 |
| SCHB Schwab US Broad Market ETF | Add +0.3% | 0.22% | −0.01 |
| COST Costco Wholesale Corp. | Add +8.8% | 0.69% | −0.01 |
| IWB iShares Russell 1000 ETF | Add +0.3% | 0.34% | −0.01 |
| IBTG iShares Ibonds Dec 2026 Term | Add +15.0% | 5.58% | −0.02 |
| SMLF iShares US Smallcap Equity F | Add +4.7% | 2.78% | −0.02 |
| HELO JPMorgan Hedged Equity ETF | Add +6.6% | 0.71% | −0.02 |
| IEFA iShares Core MSCI Eafe ETF | Add +0.4% | 0.76% | −0.03 |
| BMY Bristol-Myers Squibb Co. | Add +12.2% | 0.10% | −0.04 |
| ANGL Vaneck Fallen Angel High YLD | Add +7.8% | 0.76% | −0.04 |
| VZ Verizon Communications Inc. | Add +3.3% | 0.27% | −0.05 |
| XOM Exxon Mobil Corp. | Add +6.8% | 0.32% | −0.06 |
| SCHF Schwab Intl Equity ETF | Add +1.9% | 5.59% | −0.08 |
| SCHM Schwab US Mid Cap ETF | Add +4.9% | 5.69% | −0.16 |
| JAVA JPMorgan Active Value ETF | Add +0.8% | 1.73% | −0.19 |
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 |