Duncan Williams Asset Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Duncan Williams Asset Management, LLC reported 164 stock positions worth $355.4 million. Its top holding was Vanguard Mrngstar GR ETF-Sui (VUG) at 13.7% of the portfolio, followed by Wisdomtree U.S. Quality Divi (DGRW, 12.3%) and iShares Core S&P U.S. Value (IUSV, 5.8%). Compared with Q2 2025, it opened 14 new positions, sold out of 4, added to 76 and reduced 45. The biggest buy was a new position in iShares Core S&P U.S. Value (IUSV) and the biggest sale Schwab US DVD Equity ETF (SCHD, shares −59%).
- Most Recent 13F
- Q2 2026
- Location
- MEMPHIS, TN
- CIK
- 0002011771
- Portfolio Value
- $355.4M (Q3 2025)
- SEC Filing
- 0001765380-25-000483 ↗ filed Nov 12, 2025
Holdings Value
Holdings 164 stocks · $355.4M
| VUG Vanguard Mrngstar GR ETF-Sui | 13.68% | 101,399 | $48.6M | Add +1.2% |
| DGRW Wisdomtree U.S. Quality Divi | 12.27% | 490,267 | $43.6M | Add +10.7% |
| IUSV iShares Core S&P U.S. Value | 5.84% | 207,794 | $20.8M | New |
| AAPL Apple Inc. | 4.00% | 55,782 | $14.2M | Add +0.2% |
| SCHD Schwab US DVD Equity ETF | 3.58% | 466,110 | $12.7M | Reduce -58.6% |
| GSSC Goldman Sachs Activebeta US | 3.13% | 148,409 | $11.1M | Add +10.4% |
| VOO Vanguard S&P 500 ETF | 2.74% | 15,918 | $9.7M | Add +2.7% |
| MSFT Microsoft Corp. | 2.73% | 18,750 | $9.7M | Reduce -4.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 2.49% | 47,426 | $8.8M | Add +2.6% |
| FHN First Horizon Corp. | 2.28% | 358,347 | $8.1M | Reduce -0.1% |
| VEA Vanguard Ftse Developed ETF | 2.17% | 128,681 | $7.7M | Add +18.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.07% | 14,661 | $7.4M | Add +0.3% |
| QQQ Invesco QQQ Trust Series 1 | 2.05% | 12,151 | $7.3M | Add +0.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.80% | 25,214 | $6.4M | Add +2.4% |
| VWO Vanguard Ftse Emerging Marke | 1.77% | 116,240 | $6.3M | Add +11.2% |
| AMZN Amazon.com Inc. | 1.51% | 24,399 | $5.4M | Add +1.6% |
| AZO AutoZone Inc. | 1.46% | 1,212 | $5.2M | Reduce -1.6% |
| MA Mastercard Inc. Class A | 1.09% | 6,799 | $3.9M | Add +1.1% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.99% | 11,947 | $3.5M | Add +4.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.97% | 5,184 | $3.5M | Add +1.1% |
| V Visa Inc. Class A | 0.95% | 9,892 | $3.4M | Reduce -4.1% |
| GOOG Alphabet Inc. Class C | 0.94% | 13,665 | $3.3M | Add +7.9% |
| XMHQ Invesco S&P Midcap Qual ETF | 0.93% | 31,478 | $3.3M | Add +36.0% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.84% | 35,371 | $3.0M | Add +25.1% |
| WMT Walmart Inc. | 0.79% | 27,165 | $2.8M | Add +0.5% |
| FDX FedEx Corp. | 0.78% | 11,807 | $2.8M | Reduce -1.8% |
| CSM Proshares Large Cap Core Plu | 0.67% | 31,162 | $2.4M | Reduce -1.7% |
| RF Regions Financial Corp. | 0.66% | 88,890 | $2.3M | Add +0.0% |
| VIG Vanguard Dividend Apprec ETF | 0.66% | 10,860 | $2.3M | Add +0.4% |
| VONG Vanguard Russell 1000 Growth | 0.49% | 14,558 | $1.8M | Add +3.5% |
| UNH Unitedhealth Group Inc. | 0.42% | 4,367 | $1.5M | Add +2.9% |
| MPC Marathon Petroleum Corp. | 0.41% | 7,612 | $1.5M | Reduce -7.6% |
| EGP Eastgroup Properties Inc. | 0.40% | 8,300 | $1.4M | No change |
| EFG iShares MSCI Eafe Growth ETF | 0.39% | 12,251 | $1.4M | Reduce -1.7% |
| CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT | 0.39% | 46,586 | $1.4M | Reduce -15.5% |
| KKR KKR & Co. Inc. | 0.38% | 10,507 | $1.4M | Reduce -18.2% |
| COST Costco Wholesale Corp. | 0.38% | 1,472 | $1.4M | Reduce -0.4% |
| IWP iShares Russell Mid-Cap Grow | 0.38% | 9,386 | $1.3M | Reduce -2.2% |
| TSLA Tesla Inc. | 0.37% | 2,970 | $1.3M | Add +8.2% |
| RMD Resmed Inc. | 0.37% | 4,760 | $1.3M | Add +3.1% |
| MUNI PIMCO Intermediate Municipal | 0.36% | 24,764 | $1.3M | Reduce -28.3% |
| PDI PIMCO Dynamic Income Fund | 0.36% | 64,527 | $1.3M | Reduce -35.4% |
| FTNT Fortinet Inc. | 0.36% | 15,093 | $1.3M | Add +2.9% |
| HD Home Depot Inc. | 0.36% | 3,117 | $1.3M | Add +0.6% |
| NVDA Nvidia Corp. | 0.34% | 6,562 | $1.2M | Reduce -39.2% |
| XOM Exxon Mobil Corp. | 0.34% | 10,799 | $1.2M | Add +48.3% |
| ABBV Abbvie Inc. | 0.33% | 5,140 | $1.2M | Add +3.2% |
| JNJ Johnson & Johnson | 0.33% | 6,381 | $1.2M | Reduce -0.1% |
| PNFP Pinnacle Financial Partners | 0.33% | 12,443 | $1.2M | No change |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.31% | 2,377 | $1.1M | Add +0.1% |
| BN Brookfield Corp. | 0.31% | 15,981 | $1.1M | Reduce -4.1% |
| ACN Accenture PLC Class A | 0.30% | 4,338 | $1.1M | Add +3.6% |
| VXUS Vanguard Total Intl Stock | 0.30% | 14,511 | $1.1M | Add +41.2% |
| PEP Pepsico Inc. | 0.30% | 7,502 | $1.1M | Add +1.4% |
| LIN Linde PLC | 0.29% | 2,189 | $1.0M | Add +2.5% |
| PG The Procter & Gamble Co. | 0.27% | 6,313 | $970K | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 0.27% | 3,985 | $969K | Add +8.1% |
| CPRT Copart Inc. | 0.27% | 21,274 | $957K | Reduce -2.7% |
| LRN Stride Inc. | 0.27% | 6,419 | $956K | Add +2.8% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.26% | 3,143 | $935K | Reduce -2.9% |
| CIFR Cipher Digital Inc. | 0.26% | 73,004 | $919K | Add +0.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.26% | 3,284 | $917K | New |
| WDAY Workday Inc. Class A | 0.26% | 3,775 | $909K | Add +3.0% |
| GPIX GLDM SA S&P 500 PR in ETF-US | 0.24% | 16,570 | $865K | New |
| CRM Salesforce Inc. | 0.24% | 3,643 | $863K | Add +0.8% |
| PRTA Prothena Corp. PLC | 0.24% | 88,339 | $862K | No change |
| TVARDI THERAPEUTICS INC COM | 0.24% | 22,030 | $859K | Add +0.9% |
| VIGI Vanguard Int Div App Indx FD | 0.24% | 9,581 | $858K | Reduce -2.1% |
| GS Goldman Sachs Group Inc. | 0.24% | 1,069 | $851K | Reduce -1.3% |
| PLTR Palantir Technologies Inc. Class A | 0.24% | 4,641 | $847K | Add +8.2% |
| ORCL Oracle Corp. | 0.24% | 2,976 | $837K | Reduce -1.4% |
| DE Deere & Co. | 0.22% | 1,684 | $770K | Reduce -0.5% |
| TMUS T-Mobile US Inc. | 0.21% | 3,190 | $764K | Add +21.5% |
| NEM Newmont Corp. | 0.21% | 9,013 | $760K | New |
| IGHG Proshares Ig Hedged | 0.21% | 9,546 | $754K | No change |
| PHM Pultegroup Inc. | 0.21% | 5,667 | $749K | Reduce -35.6% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.21% | 22,868 | $746K | Add +4.3% |
| AMGN Amgen Inc. | 0.21% | 2,626 | $741K | Add +0.1% |
| CGMU Cap Group Municipal Income | 0.21% | 26,955 | $736K | New |
| AMD Advanced Micro Devices | 0.20% | 4,414 | $714K | Add +2.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 2,480 | $700K | Reduce -13.5% |
| RSP Invesco S&P 500 Equal Weight | 0.19% | 3,643 | $691K | Reduce -12.3% |
| BOND PIMCO Active Bond Exchange-T | 0.19% | 7,086 | $661K | Reduce -5.6% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.18% | 6,979 | $640K | New |
| ABT Abbott Laboratories | 0.17% | 4,604 | $617K | Reduce -0.7% |
| MRK Merck & Co. Inc. | 0.17% | 7,316 | $614K | Add +1.3% |
| EFA iShares MSCI Eafe ETF | 0.17% | 6,538 | $610K | Reduce -3.8% |
| NOC Northrop Grumman Corp. | 0.17% | 1,000 | $609K | No change |
| AVGO Broadcom Inc. | 0.17% | 1,816 | $599K | Reduce -14.9% |
| JPM JPMorgan Chase & Co. | 0.17% | 1,888 | $596K | Reduce -0.5% |
| AVNM Avantis All Intl MKTS Eq ETF | 0.17% | 8,362 | $590K | New |
| RRBI Red River Bancshares Inc. | 0.17% | 9,050 | $587K | No change |
| TFC Truist Financial Corp. | 0.16% | 12,773 | $584K | Reduce -1.8% |
| MNA Nylim Merger Arbtrage ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET | 0.16% | 16,060 | $577K | Reduce -3.4% |
| BSY Bentley Systems Inc. Class B | 0.16% | 11,192 | $576K | Add +2.6% |
| META Meta Platforms Inc. Class A | 0.16% | 784 | $576K | No change |
| WM Waste Management Inc. | 0.16% | 2,520 | $556K | No change |
| GD General Dynamics Corp. | 0.15% | 1,600 | $546K | No change |
| DHR Danaher Corp. | 0.15% | 2,733 | $542K | Add +8.9% |
| ITA iShares U.S. Aerospace & Def | 0.15% | 2,534 | $530K | Add +0.0% |
Portfolio Sells Q2 2025 → Q3 2025
| SCHD Schwab US DVD Equity ETF | Reduce -58.6% | 3.58% | −5.83 |
| MSFT Microsoft Corp. | Reduce -4.7% | 2.73% | −0.36 |
| USFD US Foods Holding Corp. | Sold out | 0.00% | −0.29 |
| PDI PIMCO Dynamic Income Fund | Reduce -35.4% | 0.36% | −0.24 |
| V Visa Inc. Class A | Reduce -4.1% | 0.95% | −0.21 |
| MUNI PIMCO Intermediate Municipal | Reduce -28.3% | 0.36% | −0.20 |
| NVDA Nvidia Corp. | Reduce -39.2% | 0.34% | −0.19 |
| KKR KKR & Co. Inc. | Reduce -18.2% | 0.38% | −0.16 |
| FHN First Horizon Corp. | Reduce -0.1% | 2.28% | −0.12 |
| CGXU Cap Group Intl Focus | Reduce -15.5% | 0.39% | −0.08 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.08 |
| PHM Pultegroup Inc. | Reduce -35.6% | 0.21% | −0.08 |
| FDX FedEx Corp. | Reduce -1.8% | 0.78% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -0.4% | 0.38% | −0.08 |
| IBM Intl Business Machines Corp. | Reduce -13.5% | 0.20% | −0.07 |
| CPRT Copart Inc. | Reduce -2.7% | 0.27% | −0.07 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.07 |
| DE Deere & Co. | Reduce -0.5% | 0.22% | −0.06 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -1.7% | 0.39% | −0.05 |
| RSP Invesco S&P 500 Equal Weight | Reduce -12.3% | 0.19% | −0.04 |
| IWP iShares Russell Mid-Cap Grow | Reduce -2.2% | 0.38% | −0.04 |
| PDBC Invesco Optimum Yield Divers | Sold out | 0.00% | −0.04 |
| VIGI Vanguard Int Div App Indx FD | Reduce -2.1% | 0.24% | −0.04 |
| HYZD Wisdomtree Interest Rate Hed | Reduce -10.5% | 0.15% | −0.04 |
| CSM Proshares Large Cap Core Plu | Reduce -1.7% | 0.67% | −0.03 |
| BOND PIMCO Active Bond Exchange-T | Reduce -5.6% | 0.19% | −0.03 |
| ABT Abbott Laboratories | Reduce -0.7% | 0.17% | −0.03 |
| MNA Nylim Merger Arbtrage ETF-Ui | Reduce -3.4% | 0.16% | −0.02 |
| EFA iShares MSCI Eafe ETF | Reduce -3.8% | 0.17% | −0.02 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -2.9% | 0.26% | −0.02 |
| MPC Marathon Petroleum Corp. | Reduce -7.6% | 0.41% | −0.02 |
| RNST Renasant Corp. | Reduce -7.3% | 0.11% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -7.0% | 0.12% | −0.02 |
| AVGO Broadcom Inc. | Reduce -14.9% | 0.17% | −0.02 |
| BN Brookfield Corp. | Reduce -4.1% | 0.31% | −0.02 |
| KO The Coca-Cola Co. | Reduce -0.8% | 0.08% | −0.02 |
| IWR iShares Russell Mid-Cap ETF | Reduce -6.2% | 0.11% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -9.0% | 0.07% | −0.01 |
| PFE Pfizer Inc. | Reduce -5.2% | 0.11% | −0.01 |
| TFC Truist Financial Corp. | Reduce -1.8% | 0.16% | −0.01 |
| JBL Jabil Inc. | Reduce -0.7% | 0.08% | −0.01 |
| CWB SS SPDR BB Conv Sec ETF | Reduce -5.0% | 0.12% | −0.01 |
| NUE Nucor Corp. | Reduce -2.1% | 0.09% | −0.01 |
| IEMG iShares Core MSCI Emerging | Reduce -7.9% | 0.07% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.5% | 0.17% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -1.3% | 0.24% | −0.00 |
| AZO AutoZone Inc. | Reduce -1.6% | 1.46% | +0.02 |
| JNJ Johnson & Johnson | Reduce -0.1% | 0.33% | +0.02 |
| ORCL Oracle Corp. | Reduce -1.4% | 0.24% | +0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| IUSV iShares Core S&P U.S. Value | New | 5.84% | +5.84 |
| DGRW Wisdomtree U.S. Quality Divi | Add +10.7% | 12.27% | +0.57 |
| AAPL Apple Inc. | Add +0.2% | 4.00% | +0.39 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.26% | +0.26 |
| GPIX GLDM SA S&P 500 PR in ETF-US | New | 0.24% | +0.24 |
| GOOG Alphabet Inc. Class C | Add +7.9% | 0.94% | +0.23 |
| VEA Vanguard Ftse Developed ETF | Add +18.8% | 2.17% | +0.22 |
| GSSC Goldman Sachs Activebeta US | Add +10.4% | 3.13% | +0.22 |
| NEM Newmont Corp. | New | 0.21% | +0.21 |
| XMHQ Invesco S&P Midcap Qual ETF | Add +36.0% | 0.93% | +0.21 |
| CGMU Cap Group Municipal Income | New | 0.21% | +0.21 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.18% | +0.18 |
| AVNM Avantis All Intl MKTS Eq ETF | New | 0.17% | +0.17 |
| CIFR Cipher Digital Inc. | Add +0.1% | 0.26% | +0.15 |
| VWO Vanguard Ftse Emerging Marke | Add +11.2% | 1.77% | +0.14 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +25.1% | 0.84% | +0.13 |
| CGIE Cap Group Intl Equity | New | 0.11% | +0.11 |
| TSLA Tesla Inc. | Add +8.2% | 0.37% | +0.10 |
| XOM Exxon Mobil Corp. | Add +48.3% | 0.34% | +0.09 |
| LMT Lockheed Martin Corp. | New | 0.09% | +0.09 |
| TVARDI THERAPEUTICS INC COM | Add +0.9% | 0.24% | +0.08 |
| GLW Corning Inc. | New | 0.08% | +0.08 |
| VXUS Vanguard Total Intl Stock | Add +41.2% | 0.30% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +8.1% | 0.27% | +0.07 |
| JPST JPMorgan Ultra-Short Income | New | 0.06% | +0.06 |
| CAT Caterpillar Inc. | New | 0.06% | +0.06 |
| EOSE Eos Energy Enterprises Inc. | Add +15.0% | 0.10% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | Add +8.2% | 0.24% | +0.05 |
| ET Energy Transfer LP | New | 0.05% | +0.05 |
| NDMO Nuveen Dynamic Municipal Opp | New | 0.04% | +0.04 |
| ABBV Abbvie Inc. | Add +3.2% | 0.33% | +0.04 |
| CGGR Cap Group Growth Equity | Add +32.6% | 0.11% | +0.02 |
| VZ Verizon Communications Inc. | Add +38.5% | 0.10% | +0.02 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Add +22.0% | 0.14% | +0.02 |
| TMUS T-Mobile US Inc. | Add +21.5% | 0.21% | +0.02 |
| ASML ASML Holding NV-NY Reg SHS | Add +5.8% | 0.10% | +0.01 |
| T AT&T Inc. | Add +26.9% | 0.10% | +0.01 |
| VONG Vanguard Russell 1000 Growth | Add +3.5% | 0.49% | +0.01 |
| AMD Advanced Micro Devices | Add +2.7% | 0.20% | +0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +13.9% | 0.08% | +0.01 |
| UNH Unitedhealth Group Inc. | Add +2.9% | 0.42% | +0.01 |
| AFL Aflac Inc. | Add +14.5% | 0.07% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | Add +10.3% | 0.08% | +0.00 |
| STRW Strawberry Fields REIT Inc. | Add +1.3% | 0.06% | +0.00 |
| LLY Eli Lilly & Co. | Add +16.8% | 0.08% | +0.00 |
| BAC Bank of America Corp. | Add +2.8% | 0.11% | −0.00 |
| RF Regions Financial Corp. | Add +0.0% | 0.66% | −0.00 |
| ITA iShares U.S. Aerospace & Def | Add +0.0% | 0.15% | −0.00 |
| DOC Healthpeak Properties Inc. | Add +0.2% | 0.07% | −0.00 |
| DVY iShares Select Dividend ETF | Add +0.9% | 0.07% | −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 |