LPWM LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 8, 2025), LPWM LLC reported 83 stock positions worth $342.8 million. Its top holding was Vanguard Russell 1000 Growth (VONG) at 20.1% of the portfolio, followed by iShares S&P 500 Value ETF (IVE, 17.5%) and iShares Russell Mid-Cap Valu (IWS, 8.5%). Compared with Q1 2025, it opened 3 new positions, sold out of 4, added to 30 and reduced 26. The biggest buy was Vanguard Russell 1000 Growth (VONG, shares +3%) and the biggest sale iShares MSCI Emr MRK Ex Chna (EMXC, shares −89%).

Most Recent 13F
Q2 2026
Location
MINNEAPOLIS, MN
CIK
0001801101
Portfolio Value
$342.8M (Q2 2025)
SEC Filing
0001951757-25-000587 ↗ filed Jul 8, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $272.3M Q1 2024 Q2 2024: $289.6M Q2 2024 Q3 2024: $305.4M Q3 2024 Q4 2024: $311.3M Q4 2024 Q1 2025: $310.5M Q1 2025 Q2 2025: $342.8M $342.8M Q2 2025 Q3 2025: $374.8M Q3 2025 Q4 2025: $396.4M Q4 2025 Q1 2026: $396.3M Q1 2026 Q2 2026: $450.7M Q2 2026

Holdings 83 stocks · $342.8M
VONG Vanguard Russell 1000 Growth 20.07% 629,957 $68.8M Add +3.3%
IVE iShares S&P 500 Value ETF 17.54% 307,687 $60.1M Add +4.5%
IWS iShares Russell Mid-Cap Valu 8.54% 221,668 $29.3M Add +4.6%
JPST JPMorgan Ultra-Short Income 5.24% 354,315 $18.0M Add +11.1%
IEFA iShares Core MSCI Eafe ETF 4.50% 184,640 $15.4M Reduce -4.4%
VTIP Vanguard Short-Term Tips 3.77% 257,351 $12.9M Add +0.3%
VWO Vanguard Ftse Emerging Marke 3.29% 228,288 $11.3M Add +56.7%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 3.14% 98,141 $10.8M Reduce -1.8%
SLYV SS SPDR S&P 600 SC Val ETF 2.26% 97,237 $7.8M Add +13.1%
IWM iShares Russell 2000 ETF 2.20% 34,907 $7.5M Add +9.5%
VNQ Vanguard Real Estate ETF 1.64% 62,998 $5.6M Add +2.0%
VTV Vanguard Mrngstr Val ETF-Aui 1.63% 31,565 $5.6M Add +4.4%
BRK.B Berkshire Hathaway Inc. Class B 1.35% 9,495 $4.6M Add +3.2%
EELV Invesco S&P Emerging Markets 1.32% 173,115 $4.5M Reduce -3.8%
NVDA Nvidia Corp. 1.29% 28,047 $4.4M Reduce -1.2%
VONE Vanguard Russell 1000 1.28% 15,564 $4.4M Reduce -1.4%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 1.21% 81,485 $4.1M Add +13.2%
VNQI Vanguard GLBL Ex-US Real Est 1.19% 88,159 $4.1M Reduce -8.9%
IWR iShares Russell Mid-Cap ETF 1.12% 41,863 $3.9M Reduce -0.5%
VOE Vngrd Mrngstr MD-Cap Val ETF 1.03% 21,473 $3.5M Add +0.4%
VSS Vanguard Ftse All Wo X-US SC 0.96% 24,579 $3.3M Reduce -8.2%
AGG iShares Core U.S. Aggregate 0.94% 32,598 $3.2M Reduce -2.0%
VTEB Vanguard Tax-Exempt Bond ETF 0.91% 63,677 $3.1M Add +306.1%
VEA Vanguard Ftse Developed ETF 0.87% 52,311 $3.0M Add +0.1%
MUB iShares National Muni Bond E 0.70% 22,859 $2.4M Reduce -55.5%
IVW iShares S&P 500 Growth ETF 0.61% 19,058 $2.1M Reduce -2.3%
VGT Vanguard Info Tech ETF 0.61% 3,145 $2.1M Reduce -0.5%
VTI VG Morningstar TS MKT ETF-US 0.59% 6,701 $2.0M Reduce -0.4%
BIL SS SPDR BB 1-3M T-Bill ETF 0.54% 20,123 $1.8M Add +37.7%
VONV Vanguard Russell 1000 Value 0.50% 20,006 $1.7M Reduce -0.4%
AVGO Broadcom Inc. 0.44% 5,457 $1.5M Add +0.1%
AMZN Amazon.com Inc. 0.43% 6,679 $1.5M Add +1.8%
XLK SS Technology Select Sector 0.42% 5,737 $1.5M Reduce -0.7%
VOO Vanguard S&P 500 ETF 0.40% 2,408 $1.4M Add +0.3%
IEMG iShares Core MSCI Emerging 0.38% 21,531 $1.3M Add +1.6%
VUG Vanguard Mrngstar GR ETF-Sui 0.37% 2,880 $1.3M Add +4.2%
QUAL iShares MSCI USA Quality Fac 0.33% 6,142 $1.1M Reduce -0.0%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.32% 23,430 $1.1M Add +109.6%
VOX Vanguard Communication Servi 0.26% 5,211 $891K Add +0.1%
IJH iShares Core S&P Midcap ETF 0.26% 14,279 $886K Add +33.7%
AAPL Apple Inc. 0.24% 3,967 $814K Reduce -3.6%
GOOGL Alphabet Inc. Class A 0.23% 4,526 $798K Add +0.0%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.21% 2,578 $736K No change
XLE SS Energy Select Sector 0.21% 8,521 $723K Add +32.5%
VHT Vanguard Health Care ETF 0.21% 2,844 $706K Reduce -8.3%
UNH Unitedhealth Group Inc. 0.20% 2,226 $694K Reduce -14.7%
XLV SS Health Care Select Sector 0.20% 5,003 $674K Add +1.9%
VXF Vanguard Extended Market ETF 0.20% 3,493 $673K No change
MSFT Microsoft Corp. 0.19% 1,294 $644K No change
QQQ Invesco QQQ Trust Series 1 0.18% 1,142 $630K No change
ICVT iShares Convertible Bond ETF 0.18% 6,852 $617K Reduce -7.4%
IWB iShares Russell 1000 ETF 0.18% 1,798 $611K Add +10.1%
GOOG Alphabet Inc. Class C 0.16% 3,084 $547K Reduce -2.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.16% 862 $533K No change
IYF iShares US Financials ETF 0.15% 4,366 $528K No change
EMXC iShares MSCI Emr MRK Ex Chna 0.15% 8,192 $517K Reduce -89.3%
MMM 3M Co. 0.14% 3,169 $482K Add +41.7%
VB Vanguard Most SM-Cap ETF-Usd 0.14% 1,990 $472K Reduce -3.7%
TSLA Tesla Inc. 0.13% 1,455 $462K No change
IWF iShares Russell 1000 Growth 0.12% 1,000 $425K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.12% 2,160 $421K Add +46.7%
VCR Vanguard Consumer Discre ETF 0.11% 1,059 $384K No change
ITA iShares U.S. Aerospace & Def 0.11% 1,958 $369K No change
DELL Dell Technologies -C 0.10% 2,921 $358K No change
AXP American Express Co. 0.10% 1,121 $358K New
PHO Invesco Water Resources ETF 0.10% 4,875 $341K No change
TIP iShares Tips Bond ETF 0.10% 3,046 $335K No change
XLC SS Comm Select Sector SPDR 0.10% 3,074 $334K No change
META Meta Platforms Inc. Class A 0.10% 451 $333K No change
VTWO Vanguard Russell 2000 ETF 0.10% 3,763 $328K Reduce -3.7%
CRWD CrowdStrike Holdings Inc. Class A 0.09% 633 $322K No change
ECL Ecolab Inc. 0.09% 1,188 $320K No change
JPM JPMorgan Chase & Co. 0.09% 1,060 $307K No change
PM Philip Morris International 0.08% 1,500 $273K No change
ENVX Enovix Corp. 0.07% 24,552 $254K Reduce -15.0%
IGV iShares Expanded Tech-Softwa 0.07% 2,250 $246K New
SCZ iShares MSCI Eafe Small-Cap 0.07% 3,336 $242K Reduce -9.9%
XLP SS Consumer Staples Sel Sect 0.07% 2,994 $242K No change
V Visa Inc. Class A 0.07% 632 $224K No change
VEU Vanguard Ftse All-World Ex-U 0.06% 3,300 $222K No change
XOM Exxon Mobil Corp. 0.06% 2,006 $216K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.06% 733 $205K New
ICLN iShares Global Clean Energy 0.06% 15,270 $200K No change

Portfolio Sells Q1 2025 → Q2 2025
EMXC iShares MSCI Emr MRK Ex Chna Reduce -89.3% 0.15% −1.20
MUB iShares National Muni Bond E Reduce -55.5% 0.70% −1.05
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -1.8% 3.14% −0.36
UNH Unitedhealth Group Inc. Reduce -14.7% 0.20% −0.24
IEFA iShares Core MSCI Eafe ETF Reduce -4.4% 4.50% −0.21
AGG iShares Core U.S. Aggregate Reduce -2.0% 0.94% −0.12
EELV Invesco S&P Emerging Markets Reduce -3.8% 1.32% −0.09
COR Cencora Inc. Sold out 0.00% −0.09
VNQI Vanguard GLBL Ex-US Real Est Reduce -8.9% 1.19% −0.07
VT Vanguard Tot World STK ETF Sold out 0.00% −0.07
IYE iShares U.S. Energy ETF Sold out 0.00% −0.07
FCX Freeport-McMoran Inc. Sold out 0.00% −0.06
VHT Vanguard Health Care ETF Reduce -8.3% 0.21% −0.06
AAPL Apple Inc. Reduce -3.6% 0.24% −0.06
VONV Vanguard Russell 1000 Value Reduce -0.4% 0.50% −0.04
VSS Vanguard Ftse All Wo X-US SC Reduce -8.2% 0.96% −0.03
IWR iShares Russell Mid-Cap ETF Reduce -0.5% 1.12% −0.03
ICVT iShares Convertible Bond ETF Reduce -7.4% 0.18% −0.02
VONE Vanguard Russell 1000 Reduce -1.4% 1.28% −0.02
QUAL iShares MSCI USA Quality Fac Reduce -0.0% 0.33% −0.01
VB Vanguard Most SM-Cap ETF-Usd Reduce -3.7% 0.14% −0.01
VTWO Vanguard Russell 2000 ETF Reduce -3.7% 0.10% −0.01
SCZ iShares MSCI Eafe Small-Cap Reduce -9.9% 0.07% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -0.4% 0.59% −0.00
GOOG Alphabet Inc. Class C Reduce -2.4% 0.16% +0.00
ENVX Enovix Corp. Reduce -15.0% 0.07% +0.01
IVW iShares S&P 500 Growth ETF Reduce -2.3% 0.61% +0.03
XLK SS Technology Select Sector Reduce -0.7% 0.42% +0.04
VGT Vanguard Info Tech ETF Reduce -0.5% 0.61% +0.06
NVDA Nvidia Corp. Reduce -1.2% 1.29% +0.30

Portfolio Buys Q1 2025 → Q2 2025
VONG Vanguard Russell 1000 Growth Add +3.3% 20.07% +1.83
VWO Vanguard Ftse Emerging Marke Add +56.7% 3.29% +1.17
VTEB Vanguard Tax-Exempt Bond ETF Add +306.1% 0.91% +0.66
IUSB Ishr CR Unvrse Usd BD ETF-Ui Add +109.6% 0.32% +0.15
IWM iShares Russell 2000 ETF Add +9.5% 2.20% +0.15
AVGO Broadcom Inc. Add +0.1% 0.44% +0.14
BIL SS SPDR BB 1-3M T-Bill ETF Add +37.7% 0.54% +0.11
AXP American Express Co. New 0.10% +0.10
SLYV SS SPDR S&P 600 SC Val ETF Add +13.1% 2.26% +0.09
IGV iShares Expanded Tech-Softwa New 0.07% +0.07
VO Vngrd Mrngstr MD-Cap ETF-Usd New 0.06% +0.06
IJH iShares Core S&P Midcap ETF Add +33.7% 0.26% +0.06
JPST JPMorgan Ultra-Short Income Add +11.1% 5.24% +0.04
VUG Vanguard Mrngstar GR ETF-Sui Add +4.2% 0.37% +0.04
MMM 3M Co. Add +41.7% 0.14% +0.03
VBR Vngrd Mrngst SL-CP Val ETF-U Add +46.7% 0.12% +0.03
JMST JPM Ultra-Short Muni Income Add +13.2% 1.21% +0.03
AMZN Amazon.com Inc. Add +1.8% 0.43% +0.03
XLE SS Energy Select Sector Add +32.5% 0.21% +0.02
IWB iShares Russell 1000 ETF Add +10.1% 0.18% +0.02
VEA Vanguard Ftse Developed ETF Add +0.1% 0.87% +0.01
VOX Vanguard Communication Servi Add +0.1% 0.26% +0.01
IEMG iShares Core MSCI Emerging Add +1.6% 0.38% +0.01
GOOGL Alphabet Inc. Class A Add +0.0% 0.23% +0.01
VOO Vanguard S&P 500 ETF Add +0.3% 0.40% +0.00
XLV SS Health Care Select Sector Add +1.9% 0.20% −0.03
VTV Vanguard Mrngstr Val ETF-Aui Add +4.4% 1.63% −0.05
IWS iShares Russell Mid-Cap Valu Add +4.6% 8.54% −0.06
VOE Vngrd Mrngstr MD-Cap Val ETF Add +0.4% 1.03% −0.08
VNQ Vanguard Real Estate ETF Add +2.0% 1.64% −0.16
BRK.B Berkshire Hathaway Inc. Class B Add +3.2% 1.35% −0.23
VTIP Vanguard Short-Term Tips Add +0.3% 3.77% −0.35
IVE iShares S&P 500 Value ETF Add +4.5% 17.54% −0.54

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 98$450.7MVONG, VTV, IWS, JPST, IEFA
Q1 2026 94$396.3MVONG, IVE, IWS, JPST, IEFA
Q4 2025 87$396.4MVONG, IVE, IWS, IEFA, JPST
Q3 2025 84$374.8MVONG, IVE, IWS, JPST, IEFA
Q2 2025 83$342.8MVONG, IVE, IWS, JPST, IEFA
Q1 2025 84$310.5MVONG, IVE, IWS, JPST, IEFA
Q4 2024 78$311.3MVONG, IVE, IWS, IEFA, VTIP
Q3 2024 77$305.4MVONG, IVE, IWS, AGG, IEFA
Q2 2024 77$289.6MVONG, IVE, IWS, AGG, IEFA
Q1 2024 72$272.3MVONG, IVE, IWS, AGG, IEFA