Duncan Williams Asset Management, LLC

Name: Duncan Williams Asset Management, LLC 13F holdings, Q2 2025
Creator: Duncan Williams Asset Management, LLC
Published: 2025-07-22

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 22, 2025), Duncan Williams Asset Management, LLC reported 154 stock positions worth $316.8 million. Its top holding was Vanguard Mrngstar GR ETF-Sui (VUG) at 13.9% of the portfolio, followed by Wisdomtree U.S. Quality Divi (DGRW, 11.7%) and Schwab US DVD Equity ETF (SCHD, 9.4%). Compared with Q1 2025, it opened 9 new positions, sold out of 2, added to 82 and reduced 34. The biggest buy was Goldman Sachs Activebeta US (GSSC, shares +421%) and the biggest sale Apple (AAPL, shares −3%).

Most Recent 13F: Q2 2026
Location: MEMPHIS, TN
CIK: 0002011771
Portfolio Value: $316.8M (Q2 2025)
SEC Filing: 0001765380-25-000255 ↗ filed Jul 22, 2025

Holdings Value

Holdings 154 stocks · $316.8M


VUG Vanguard Mrngstar GR ETF-Sui	13.86%	100,169	$43.9M	Add +3.4%
DGRW Wisdomtree U.S. Quality Divi	11.71%	442,863	$37.1M	Add +14.0%
SCHD Schwab US DVD Equity ETF	9.41%	1,124,692	$29.8M	Add +7.7%
AAPL Apple Inc.	3.60%	55,656	$11.4M	Reduce -2.9%
MSFT Microsoft Corp.	3.09%	19,666	$9.8M	Add +6.4%
GSSC Goldman Sachs Activebeta US	2.91%	134,394	$9.2M	Add +420.8%
VOO Vanguard S&P 500 ETF	2.78%	15,504	$8.8M	Add +6.5%
VTV Vanguard Mrngstr Val ETF-Aui	2.58%	46,237	$8.2M	Add +0.5%
FHN First Horizon Corp.	2.40%	358,810	$7.6M	Add +0.0%
BRK.B Berkshire Hathaway Inc. Class B	2.24%	14,625	$7.1M	Add +1.4%
QQQ Invesco QQQ Trust Series 1	2.10%	12,048	$6.6M	Add +2.3%
VEA Vanguard Ftse Developed ETF	1.95%	108,283	$6.2M	Add +4.8%
VB Vanguard Most SM-Cap ETF-Usd	1.84%	24,619	$5.8M	Reduce -0.1%
AMZN Amazon.com Inc.	1.66%	24,021	$5.3M	Add +5.8%
VWO Vanguard Ftse Emerging Marke	1.63%	104,514	$5.2M	Add +8.5%
AZO AutoZone Inc.	1.44%	1,232	$4.6M	Reduce -1.0%
MA Mastercard Inc. Class A	1.19%	6,726	$3.8M	Add +2.0%
V Visa Inc. Class A	1.16%	10,317	$3.7M	Add +1.9%
VO Vngrd Mrngstr MD-Cap ETF-Usd	1.01%	11,399	$3.2M	Add +1.8%
SPY SS SPDR S&P 500 ETF Trust-US	1.00%	5,129	$3.2M	Add +0.9%
FDX FedEx Corp.	0.86%	12,017	$2.7M	Reduce -2.1%
WMT Walmart Inc.	0.83%	27,043	$2.6M	Add +0.2%
XMHQ Invesco S&P Midcap Qual ETF	0.72%	23,150	$2.3M	Reduce -9.4%
VYMI Vanguard Int High DVD YLD Inc.	0.72%	28,281	$2.3M	Reduce -6.2%
GOOG Alphabet Inc. Class C	0.71%	12,660	$2.2M	Add +73.2%
CSM Proshares Large Cap Core Plu	0.70%	31,688	$2.2M	No change
VIG Vanguard Dividend Apprec ETF	0.70%	10,814	$2.2M	Reduce -5.8%
RF Regions Financial Corp.	0.66%	88,881	$2.1M	Add +0.0%
PDI PIMCO Dynamic Income Fund	0.60%	99,901	$1.9M	Add +1.8%
MUNI PIMCO Intermediate Municipal	0.56%	34,560	$1.8M	Add +0.7%
KKR KKR & Co. Inc.	0.54%	12,842	$1.7M	Add +16.4%
NVDA Nvidia Corp.	0.54%	10,793	$1.7M	Add +14.9%
FTNT Fortinet Inc.	0.49%	14,664	$1.6M	Add +18.6%
VONG Vanguard Russell 1000 Growth	0.48%	14,068	$1.5M	Add +3.8%
CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT	0.47%	55,116	$1.5M	Reduce -8.9%
COST Costco Wholesale Corp.	0.46%	1,478	$1.5M	Add +8.9%
EFG iShares MSCI Eafe Growth ETF	0.44%	12,459	$1.4M	Add +0.1%
EGP Eastgroup Properties Inc.	0.44%	8,300	$1.4M	No change
PNFP Pinnacle Financial Partners	0.43%	12,443	$1.4M	No change
MPC Marathon Petroleum Corp.	0.43%	8,239	$1.4M	Add +15.0%
IWP iShares Russell Mid-Cap Grow	0.42%	9,593	$1.3M	No change
UNH Unitedhealth Group Inc.	0.42%	4,246	$1.3M	Add +45.3%
ACN Accenture PLC Class A	0.40%	4,188	$1.3M	Add +19.6%
RMD Resmed Inc.	0.38%	4,618	$1.2M	Add +19.4%
HD Home Depot Inc.	0.36%	3,100	$1.1M	Add +0.2%
CPRT Copart Inc.	0.34%	21,855	$1.1M	Add +16.4%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE	0.33%	2,374	$1.0M	Add +8.5%
BN Brookfield Corp.	0.33%	16,659	$1.0M	Add +16.4%
PG The Procter & Gamble Co.	0.32%	6,303	$1.0M	Reduce -5.6%
LIN Linde PLC	0.32%	2,135	$1.0M	Add +21.5%
CRM Salesforce Inc.	0.31%	3,616	$986K	Add +15.3%
PEP Pepsico Inc.	0.31%	7,395	$976K	Add +16.0%
JNJ Johnson & Johnson	0.31%	6,387	$976K	Reduce -0.5%
USFD US Foods Holding Corp.	0.29%	12,088	$931K	Add +17.4%
PHM Pultegroup Inc.	0.29%	8,802	$928K	Add +12.0%
ABBV Abbvie Inc.	0.29%	4,980	$924K	Add +0.9%
LRN Stride Inc.	0.29%	6,242	$906K	Add +41.5%
VBK Van Morst SML-Cap Gro-Usd Inc.	0.28%	3,236	$896K	No change
VIGI Vanguard Int Div App Indx FD	0.28%	9,784	$882K	Reduce -1.8%
WDAY Workday Inc. Class A	0.28%	3,664	$879K	Add +16.2%
TSLA Tesla Inc.	0.28%	2,746	$872K	Add +15.0%
DE Deere & Co.	0.27%	1,692	$861K	Reduce -6.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.27%	2,868	$845K	Reduce -0.4%
XOM Exxon Mobil Corp.	0.25%	7,280	$785K	Reduce -3.8%
GS Goldman Sachs Group Inc.	0.24%	1,083	$767K	Add +1.2%
RSP Invesco S&P 500 Equal Weight	0.24%	4,155	$755K	Reduce -31.9%
IGHG Proshares Ig Hedged	0.24%	9,546	$748K	No change
AMGN Amgen Inc.	0.23%	2,622	$732K	Add +0.1%
VICI Vici Properties Inc. filed as VICI PPTYS INC	0.23%	21,934	$715K	Add +28.4%
VXUS Vanguard Total Intl Stock	0.22%	10,280	$710K	Add +7.3%
BOND PIMCO Active Bond Exchange-T	0.22%	7,504	$692K	Reduce -0.1%
ORCL Oracle Corp.	0.21%	3,019	$660K	Add +0.6%
GOOGL Alphabet Inc. Class A	0.21%	3,686	$650K	Reduce -1.6%
ABT Abbott Laboratories	0.20%	4,635	$630K	Add +0.9%
TMUS T-Mobile US Inc.	0.20%	2,625	$625K	New
AMD Advanced Micro Devices	0.19%	4,297	$610K	Add +32.5%
EFA iShares MSCI Eafe ETF	0.19%	6,798	$608K	Add +0.6%
AVGO Broadcom Inc.	0.19%	2,135	$589K	Add +1.2%
BSY Bentley Systems Inc. Class B	0.19%	10,906	$589K	New
MNA Nylim Merger Arbtrage ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET	0.19%	16,626	$586K	No change
HYZD Wisdomtree Interest Rate Hed	0.18%	26,139	$585K	Reduce -0.2%
PLTR Palantir Technologies Inc. Class A	0.18%	4,291	$585K	Add +43.8%
META Meta Platforms Inc. Class A	0.18%	784	$579K	Reduce -2.6%
WM Waste Management Inc.	0.18%	2,520	$577K	Add +24.8%
MRK Merck & Co. Inc.	0.18%	7,226	$572K	Reduce -0.8%
TFC Truist Financial Corp.	0.18%	13,008	$559K	Add +1.0%
JPM JPMorgan Chase & Co.	0.17%	1,897	$550K	Add +0.5%
PRTA Prothena Corp. PLC	0.17%	88,339	$536K	No change
RRBI Red River Bancshares Inc.	0.17%	9,050	$531K	No change
TVARDI THERAPEUTICS INC COM	0.16%	21,830	$509K	New
NOC Northrop Grumman Corp.	0.16%	1,000	$500K	No change
DHR Danaher Corp.	0.16%	2,510	$496K	Add +4.2%
ITA iShares U.S. Aerospace & Def	0.15%	2,533	$478K	Add +0.0%
GD General Dynamics Corp.	0.15%	1,600	$467K	No change
PM Philip Morris International	0.14%	2,493	$454K	Add +5.5%
WFC Wells Fargo & Co.	0.14%	5,388	$432K	Reduce -4.2%
CWB SS SPDR BB Conv Sec ETF	0.13%	4,909	$406K	No change
RNST Renasant Corp.	0.13%	11,115	$399K	No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui	0.12%	3,006	$394K	No change
NVTS Navitas Semiconductor Corp.	0.12%	60,000	$393K	Reduce -14.3%
BSV Vanguard Short-Term Bond ETF	0.12%	4,952	$390K	No change
IWR iShares Russell Mid-Cap ETF	0.12%	4,182	$385K	Reduce -0.1%
PFE Pfizer Inc.	0.12%	15,488	$375K	Add +2.1%
VOT Vngrd Mrngstr MC GRW ETF-Usd	0.12%	1,281	$364K	No change
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.11%	7,672	$363K	Add +0.0%
ICVT iShares Convertible Bond ETF	0.11%	4,001	$360K	No change
CIFR Cipher Digital Inc.	0.11%	72,934	$349K	Reduce -48.4%
XRN Global Medical REIT Inc.	0.11%	49,134	$341K	Reduce -5.8%
MSTR Strategy Inc. filed as MICROSTRATEGY INC	0.11%	832	$336K	No change
IVV iShares Core S&P 500 ETF	0.11%	538	$334K	Add +23.7%
BMY Bristol-Myers Squibb Co.	0.10%	7,157	$331K	Reduce -1.6%
LHX L3HARRIS Technologies Inc.	0.10%	1,317	$330K	No change
MAA Mid-America Apartment Comm	0.10%	2,180	$323K	Add +13.1%
NUE Nucor Corp.	0.10%	2,406	$312K	Add +6.7%
CORZ Core Scientific Inc.	0.10%	18,031	$308K	No change
YUM Yum! Brands Inc.	0.10%	2,050	$304K	No change
APLS Apellis Pharmaceuticals Inc.	0.09%	17,005	$294K	Reduce -19.5%
KO The Coca-Cola Co.	0.09%	4,158	$294K	Add +1.6%
T AT&T Inc.	0.09%	10,141	$293K	Reduce -4.2%
ASML ASML Holding NV-NY Reg SHS	0.09%	362	$290K	New
JBL Jabil Inc.	0.09%	1,329	$290K	Reduce -76.2%
BIV Vanguard Intermediate-Term B	0.09%	3,694	$286K	No change
ALL Allstate Corp.	0.09%	1,404	$283K	Add +0.1%
VNQ Vanguard Real Estate ETF	0.09%	3,144	$280K	No change
IEI iShares 3-7 Year Treasury Bo	0.09%	2,329	$277K	No change
ZYME Zymeworks Inc.	0.09%	22,095	$277K	No change
EPD Enterprise Products Partners	0.09%	8,814	$273K	Add +7.4%
PSX Phillips 66	0.09%	2,287	$273K	No change
SO The Southern Co.	0.09%	2,936	$270K	Add +0.4%
CGGR Cap Group Growth Equity	0.08%	6,496	$264K	Add +3.8%
CMCSA Comcast Corp. Class A	0.08%	7,391	$264K	Reduce -74.0%
MRSH Marsh & McLennan Cos	0.08%	1,201	$263K	Add +0.1%
IEMG iShares Core MSCI Emerging	0.08%	4,305	$258K	Add +4.8%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	0.08%	2,504	$257K	Add +0.9%
VZ Verizon Communications Inc.	0.08%	5,919	$256K	Reduce -2.0%
LLY Eli Lilly & Co.	0.08%	328	$256K	Add +29.6%
VTEB Vanguard Tax-Exempt Bond ETF	0.08%	5,175	$254K	New
DOC Healthpeak Properties Inc.	0.08%	13,876	$243K	Add +0.2%
SPSM SS SPDR P S&P 600 Small Cap	0.08%	5,639	$240K	Add +0.0%
IBIT iShares Bitcoin Trust ETF	0.07%	3,760	$230K	New
NKE Nike Inc. Class B	0.07%	3,167	$225K	Reduce -3.1%
CADE Cadence Bank	0.07%	6,817	$218K	No change
AFL Aflac Inc.	0.07%	2,065	$218K	Add +5.0%
GE General Electric filed as GE AEROSPACE	0.07%	845	$217K	New
DVY iShares Select Dividend ETF	0.07%	1,612	$214K	Add +0.9%
VCSH Vanguard S/T Corp. Bond ETF	0.07%	2,683	$213K	Reduce -0.1%
DWM Wisdomtree International Equ	0.07%	3,274	$208K	New
RPG Invesco S&P 500 Pure Growth	0.06%	4,484	$205K	New
COP Conocophillips	0.06%	2,229	$200K	Add +4.8%
STRW Strawberry Fields REIT Inc.	0.06%	17,247	$182K	Add +14.8%
EOSE Eos Energy Enterprises Inc.	0.04%	27,000	$138K	Add +31.7%
PDBC Invesco Optimum Yield Divers	0.04%	10,351	$135K	Reduce -16.9%
REDWOOD TRUST INC (RWT 7.75 06/15/27)	0.01%	25,000	$25K	No change
CAN Canaan Inc.	0.00%	10,000	$6K	No change

Portfolio Sells Q1 2025 → Q2 2025


AAPL Apple Inc.	Reduce -2.9%	3.60%	−0.99
CMCSA Comcast Corp. Class A	Reduce -74.0%	0.08%	−0.30
AZO AutoZone Inc.	Reduce -1.0%	1.44%	−0.27
FDX FedEx Corp.	Reduce -2.1%	0.86%	−0.22
JBL Jabil Inc.	Reduce -76.2%	0.09%	−0.18
RSP Invesco S&P 500 Equal Weight	Reduce -31.9%	0.24%	−0.14
VB Vanguard Most SM-Cap ETF-Usd	Reduce -0.1%	1.84%	−0.13
XMHQ Invesco S&P Midcap Qual ETF	Reduce -9.4%	0.72%	−0.13
VIG Vanguard Dividend Apprec ETF	Reduce -5.8%	0.70%	−0.11
PG The Procter & Gamble Co.	Reduce -5.6%	0.32%	−0.09
VYMI Vanguard Int High DVD YLD Inc.	Reduce -6.2%	0.72%	−0.09
XOM Exxon Mobil Corp.	Reduce -3.8%	0.25%	−0.08
JNJ Johnson & Johnson	Reduce -0.5%	0.31%	−0.08
APLS Apellis Pharmaceuticals Inc.	Reduce -19.5%	0.09%	−0.07
CGXU Cap Group Intl Focus	Reduce -8.9%	0.47%	−0.06
XRN Global Medical REIT Inc.	Reduce -5.8%	0.11%	−0.06
BMY Bristol-Myers Squibb Co.	Reduce -1.6%	0.10%	−0.06
MRK Merck & Co. Inc.	Reduce -0.8%	0.18%	−0.06
AQN Algonquin Power & Utilities	Sold out	0.00%	−0.04
DE Deere & Co.	Reduce -6.6%	0.27%	−0.04
BOND PIMCO Active Bond Exchange-T	Reduce -0.1%	0.22%	−0.03
HYZD Wisdomtree Interest Rate Hed	Reduce -0.2%	0.18%	−0.02
ACP Abrdn Income Credit Strat	Sold out	0.00%	−0.02
VIGI Vanguard Int Div App Indx FD	Reduce -1.8%	0.28%	−0.02
PDBC Invesco Optimum Yield Divers	Reduce -16.9%	0.04%	−0.02
VZ Verizon Communications Inc.	Reduce -2.0%	0.08%	−0.02
T AT&T Inc.	Reduce -4.2%	0.09%	−0.02
WFC Wells Fargo & Co.	Reduce -4.2%	0.14%	−0.01
VCSH Vanguard S/T Corp. Bond ETF	Reduce -0.1%	0.07%	−0.01
CIFR Cipher Digital Inc.	Reduce -48.4%	0.11%	−0.01
IWR iShares Russell Mid-Cap ETF	Reduce -0.1%	0.12%	−0.01
GOOGL Alphabet Inc. Class A	Reduce -1.6%	0.21%	−0.00
NKE Nike Inc. Class B	Reduce -3.1%	0.07%	−0.00
IBM Intl Business Machines Corp.	Reduce -0.4%	0.27%	+0.01
META Meta Platforms Inc. Class A	Reduce -2.6%	0.18%	+0.02
NVTS Navitas Semiconductor Corp.	Reduce -14.3%	0.12%	+0.07

Portfolio Buys Q1 2025 → Q2 2025


GSSC Goldman Sachs Activebeta US	Add +420.8%	2.91%	+2.32
VUG Vanguard Mrngstar GR ETF-Sui	Add +3.4%	13.86%	+0.89
MSFT Microsoft Corp.	Add +6.4%	3.09%	+0.58
DGRW Wisdomtree U.S. Quality Divi	Add +14.0%	11.71%	+0.50
GOOG Alphabet Inc. Class C	Add +73.2%	0.71%	+0.30
TMUS T-Mobile US Inc.	New	0.20%	+0.20
BSY Bentley Systems Inc. Class B	New	0.19%	+0.19
NVDA Nvidia Corp.	Add +14.9%	0.54%	+0.17
TVARDI THERAPEUTICS INC COM	New	0.16%	+0.16
AMZN Amazon.com Inc.	Add +5.8%	1.66%	+0.10
QQQ Invesco QQQ Trust Series 1	Add +2.3%	2.10%	+0.10
PLTR Palantir Technologies Inc. Class A	Add +43.8%	0.18%	+0.09
ASML ASML Holding NV-NY Reg SHS	New	0.09%	+0.09
LRN Stride Inc.	Add +41.5%	0.29%	+0.08
VTEB Vanguard Tax-Exempt Bond ETF	New	0.08%	+0.08
KKR KKR & Co. Inc.	Add +16.4%	0.54%	+0.08
VOO Vanguard S&P 500 ETF	Add +6.5%	2.78%	+0.08
IBIT iShares Bitcoin Trust ETF	New	0.07%	+0.07
AMD Advanced Micro Devices	Add +32.5%	0.19%	+0.07
GE General Electric	New	0.07%	+0.07
DWM Wisdomtree International Equ	New	0.07%	+0.07
RPG Invesco S&P 500 Pure Growth	New	0.06%	+0.06
RMD Resmed Inc.	Add +19.4%	0.38%	+0.06
FTNT Fortinet Inc.	Add +18.6%	0.49%	+0.06
AVGO Broadcom Inc.	Add +1.2%	0.19%	+0.06
ORCL Oracle Corp.	Add +0.6%	0.21%	+0.06
VWO Vanguard Ftse Emerging Marke	Add +8.5%	1.63%	+0.06
MPC Marathon Petroleum Corp.	Add +15.0%	0.43%	+0.05
BN Brookfield Corp.	Add +16.4%	0.33%	+0.05
TSLA Tesla Inc.	Add +15.0%	0.28%	+0.05
VEA Vanguard Ftse Developed ETF	Add +4.8%	1.95%	+0.05
USFD US Foods Holding Corp.	Add +17.4%	0.29%	+0.05
GS Goldman Sachs Group Inc.	Add +1.2%	0.24%	+0.03
VONG Vanguard Russell 1000 Growth	Add +3.8%	0.48%	+0.03
VICI Vici Properties Inc.	Add +28.4%	0.23%	+0.02
LIN Linde PLC	Add +21.5%	0.32%	+0.02
IVV iShares Core S&P 500 ETF	Add +23.7%	0.11%	+0.02
EOSE Eos Energy Enterprises Inc.	Add +31.7%	0.04%	+0.02
WM Waste Management Inc.	Add +24.8%	0.18%	+0.01
WDAY Workday Inc. Class A	Add +16.2%	0.28%	+0.01
ITA iShares U.S. Aerospace & Def	Add +0.0%	0.15%	+0.01
VXUS Vanguard Total Intl Stock	Add +7.3%	0.22%	+0.01
PM Philip Morris International	Add +5.5%	0.14%	+0.01
CRM Salesforce Inc.	Add +15.3%	0.31%	+0.01
JPM JPMorgan Chase & Co.	Add +0.5%	0.17%	+0.01
CGGR Cap Group Growth Equity	Add +3.8%	0.08%	+0.01
LLY Eli Lilly & Co.	Add +29.6%	0.08%	+0.01
IRM Iron Mountain Inc.	Add +0.9%	0.08%	+0.00
IEMG iShares Core MSCI Emerging	Add +4.8%	0.08%	+0.00
PHM Pultegroup Inc.	Add +12.0%	0.29%	+0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	172	$443.6M	VUG, DGRW, IUSV, AVNM, FMDE
Q1 2026	154	$360.7M	DGRW, VUG, IUSV, AVNM, AAPL
Q4 2025	170	$402.5M	DGRW, VUG, IUSV, AVNM, AAPL
Q3 2025	164	$355.4M	VUG, DGRW, IUSV, AAPL, SCHD
Q2 2025Amended	154	$316.8M	VUG, DGRW, SCHD, AAPL, MSFT
Q1 2025	147	$276.8M	VUG, DGRW, SCHD, AAPL, VTV
Q4 2024	146	$254.0M	VUG, SCHD, AAPL, DGRW, VOO
Q3 2024	129	$181.5M	VUG, SCHD, DGRW, AAPL, MSFT
Q2 2024	63	$118.6M	VUG, SCHD, DGRW, MSFT, FHN
Q1 2024	68	$111.0M	VUG, SCHD, DGRW, MSFT, FHN