LPWM LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 6, 2026), LPWM LLC reported 87 stock positions worth $396.4 million. Its top holding was Vanguard Russell 1000 Growth (VONG) at 20.3% of the portfolio, followed by iShares S&P 500 Value ETF (IVE, 17.6%) and iShares Russell Mid-Cap Valu (IWS, 8.2%). Compared with Q3 2025, it opened 4 new positions, sold out of 1, added to 57 and reduced 19. The biggest buy was iShares Core S&P Midcap ETF (IJH, shares +99%) and the biggest sale JPMorgan Ultra-Short Income (JPST, shares −10%).

Most Recent 13F
Q2 2026
Location
MINNEAPOLIS, MN
CIK
0001801101
Portfolio Value
$396.4M (Q4 2025)
SEC Filing
0001951757-26-000010 ↗ filed Jan 6, 2026

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 Q2 2025 Q3 2025: $374.8M Q3 2025 Q4 2025: $396.4M $396.4M Q4 2025 Q1 2026: $396.3M Q1 2026 Q2 2026: $450.7M Q2 2026

Holdings 87 stocks · $396.4M
VONG Vanguard Russell 1000 Growth 20.26% 659,713 $80.3M Add +2.4%
IVE iShares S&P 500 Value ETF 17.62% 329,407 $69.9M Add +3.8%
IWS iShares Russell Mid-Cap Valu 8.24% 231,561 $32.7M Add +2.8%
IEFA iShares Core MSCI Eafe ETF 4.43% 196,192 $17.6M Add +2.6%
JPST JPMorgan Ultra-Short Income 4.11% 321,899 $16.3M Reduce -9.6%
VTIP Vanguard Short-Term Tips 3.44% 275,811 $13.6M Add +4.6%
VWO Vanguard Ftse Emerging Marke 3.29% 242,904 $13.1M Add +3.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.85% 102,504 $11.3M Add +2.7%
IWM iShares Russell 2000 ETF 2.48% 39,923 $9.8M Add +12.9%
SLYV SS SPDR S&P 600 SC Val ETF 2.32% 100,943 $9.2M Add +2.8%
VTV Vanguard Mrngstr Val ETF-Aui 1.77% 36,790 $7.0M Add +13.1%
VNQ Vanguard Real Estate ETF 1.48% 66,439 $5.9M Add +3.1%
VONE Vanguard Russell 1000 1.25% 16,052 $5.0M Add +2.4%
EELV Invesco S&P Emerging Markets 1.24% 179,130 $4.9M Add +1.5%
IWR iShares Russell Mid-Cap ETF 1.19% 49,147 $4.7M Add +5.8%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 1.18% 91,984 $4.7M Add +4.7%
BRK.B Berkshire Hathaway Inc. Class B 1.14% 9,018 $4.5M Reduce -2.5%
NVDA Nvidia Corp. 1.14% 24,269 $4.5M Reduce -7.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 1.12% 24,966 $4.4M Add +13.5%
VNQI Vanguard GLBL Ex-US Real Est 1.07% 92,172 $4.2M Add +2.5%
AGG iShares Core U.S. Aggregate 0.98% 38,925 $3.9M Add +13.8%
VSS Vanguard Ftse All Wo X-US SC 0.92% 25,435 $3.6M Add +1.9%
VEA Vanguard Ftse Developed ETF 0.89% 56,433 $3.5M Add +4.7%
VTEB Vanguard Tax-Exempt Bond ETF 0.85% 66,917 $3.4M Add +2.9%
IVW iShares S&P 500 Growth ETF 0.80% 25,850 $3.2M Add +26.4%
BIL SS SPDR BB 1-3M T-Bill ETF 0.75% 32,480 $3.0M Reduce -5.8%
IJH iShares Core S&P Midcap ETF 0.69% 41,165 $2.7M Add +98.7%
VGT Vanguard Info Tech ETF 0.63% 3,324 $2.5M Add +0.7%
VTI VG Morningstar TS MKT ETF-US 0.59% 6,991 $2.3M Add +3.0%
MUB iShares National Muni Bond E 0.55% 20,276 $2.2M Reduce -6.5%
AVGO Broadcom Inc. 0.50% 5,779 $2.0M Add +5.6%
VONV Vanguard Russell 1000 Value 0.47% 20,085 $1.9M Add +0.2%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.46% 39,030 $1.8M Add +66.6%
AMZN Amazon.com Inc. 0.45% 7,643 $1.8M Add +11.2%
XLK SS Technology Select Sector 0.43% 11,836 $1.7M Add +4.3%
IEMG iShares Core MSCI Emerging 0.42% 24,996 $1.7M Add +11.9%
VOO Vanguard S&P 500 ETF 0.41% 2,588 $1.6M Add +7.5%
GOOGL Alphabet Inc. Class A 0.35% 4,435 $1.4M Reduce -2.2%
QUAL iShares MSCI USA Quality Fac 0.34% 6,817 $1.4M Add +8.6%
VUG Vanguard Mrngstar GR ETF-Sui 0.31% 2,509 $1.2M Add +0.5%
AAPL Apple Inc. 0.27% 3,923 $1.1M Add +3.7%
VOX Vanguard Communication Servi 0.25% 5,084 $984K Reduce -6.1%
XLV SS Health Care Select Sector 0.24% 6,161 $954K Add +21.9%
TSLA Tesla Inc. 0.24% 2,094 $942K Reduce -0.3%
GOOG Alphabet Inc. Class C 0.23% 2,904 $911K Add +11.9%
MSFT Microsoft Corp. 0.22% 1,775 $858K Add +35.5%
VXUS Vanguard Total Intl Stock 0.22% 11,347 $856K New
VBR Vngrd Mrngst SL-CP Val ETF-U 0.21% 3,978 $842K Add +79.2%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.21% 2,591 $816K Add +0.5%
UNH Unitedhealth Group Inc. 0.20% 2,443 $806K Add +17.4%
XLE SS Energy Select Sector 0.20% 18,021 $806K Reduce -2.0%
VXF Vanguard Extended Market ETF 0.19% 3,521 $736K Add +0.8%
VHT Vanguard Health Care ETF 0.18% 2,513 $723K Reduce -15.8%
VTWO Vanguard Russell 2000 ETF 0.18% 7,214 $718K Add +92.2%
SGOV iShares 0-3 Month Treasury B 0.18% 6,975 $700K New
QQQ Invesco QQQ Trust Series 1 0.18% 1,138 $699K Reduce -1.3%
COR Cencora Inc. 0.18% 2,063 $697K New
IWB iShares Russell 1000 ETF 0.17% 1,798 $671K No change
ICVT iShares Convertible Bond ETF 0.17% 6,775 $667K Add +0.6%
IJR iShares Core S&P Small-Cap E 0.16% 5,435 $653K New
IYF iShares US Financials ETF 0.16% 4,871 $628K Add +1.8%
EMXC iShares MSCI Emr MRK Ex Chna 0.16% 8,624 $627K Add +9.3%
VB Vanguard Most SM-Cap ETF-Usd 0.15% 2,354 $607K Add +13.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.15% 852 $581K No change
IWF iShares Russell 1000 Growth 0.15% 1,220 $577K Add +22.0%
ITOT iShares Core S&P Total U.S. 0.13% 3,585 $533K Add +154.3%
MMM 3M Co. 0.13% 3,169 $507K No change
META Meta Platforms Inc. Class A 0.12% 693 $457K Add +53.7%
ITA iShares U.S. Aerospace & Def 0.11% 1,966 $422K Add +0.1%
PHO Invesco Water Resources ETF 0.10% 5,898 $415K Add +7.6%
VCR Vanguard Consumer Discre ETF 0.10% 1,042 $410K Reduce -10.3%
XLC SS Comm Select Sector SPDR 0.09% 3,074 $362K No change
JPM JPMorgan Chase & Co. 0.09% 1,060 $342K No change
CRWD CrowdStrike Holdings Inc. Class A 0.08% 717 $336K Add +13.3%
DELL Dell Technologies -C 0.08% 2,571 $324K Reduce -0.2%
V Visa Inc. Class A 0.08% 897 $314K Add +39.5%
ECL Ecolab Inc. 0.08% 1,188 $312K No change
TIP iShares Tips Bond ETF 0.08% 2,741 $301K Reduce -10.1%
SCZ iShares MSCI Eafe Small-Cap 0.06% 3,317 $257K No change
VEU Vanguard Ftse All-World Ex-U 0.06% 3,421 $252K Add +0.3%
PM Philip Morris International 0.06% 1,500 $241K Reduce -0.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.06% 816 $237K Add +1.6%
IGV iShares Expanded Tech-Softwa 0.06% 2,095 $221K Reduce -7.9%
ICLN iShares Global Clean Energy 0.06% 13,468 $221K Reduce -19.9%
XLRE SS Real Estate Select Sector 0.05% 5,144 $208K Add +6.8%
VT Vanguard Tot World STK ETF 0.05% 1,424 $201K Reduce -4.1%
ENVX Enovix Corp. 0.03% 15,910 $116K Reduce -5.9%

Portfolio Sells Q3 2025 → Q4 2025
JPST JPMorgan Ultra-Short Income Reduce -9.6% 4.11% −0.71
NVDA Nvidia Corp. Reduce -7.6% 1.14% −0.17
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.5% 1.14% −0.10
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -5.8% 0.75% −0.10
MUB iShares National Muni Bond E Reduce -6.5% 0.55% −0.07
XLP SS Consumer Staples Sel Sect Sold out 0.00% −0.07
VHT Vanguard Health Care ETF Reduce -15.8% 0.18% −0.02
VOX Vanguard Communication Servi Reduce -6.1% 0.25% −0.02
VCR Vanguard Consumer Discre ETF Reduce -10.3% 0.10% −0.02
XLE SS Energy Select Sector Reduce -2.0% 0.20% −0.02
DELL Dell Technologies -C Reduce -0.2% 0.08% −0.02
ENVX Enovix Corp. Reduce -5.9% 0.03% −0.02
TIP iShares Tips Bond ETF Reduce -10.1% 0.08% −0.01
IGV iShares Expanded Tech-Softwa Reduce -7.9% 0.06% −0.01
ICLN iShares Global Clean Energy Reduce -19.9% 0.06% −0.01
TSLA Tesla Inc. Reduce -0.3% 0.24% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -1.3% 0.18% −0.01
PM Philip Morris International Reduce -0.6% 0.06% −0.00
VT Vanguard Tot World STK ETF Reduce -4.1% 0.05% −0.00
GOOGL Alphabet Inc. Class A Reduce -2.2% 0.35% +0.06

Portfolio Buys Q3 2025 → Q4 2025
IJH iShares Core S&P Midcap ETF Add +98.7% 0.69% +0.32
VXUS Vanguard Total Intl Stock New 0.22% +0.22
IWM iShares Russell 2000 ETF Add +12.9% 2.48% +0.20
SGOV iShares 0-3 Month Treasury B New 0.18% +0.18
COR Cencora Inc. New 0.18% +0.18
IUSB Ishr CR Unvrse Usd BD ETF-Ui Add +66.6% 0.46% +0.17
IJR iShares Core S&P Small-Cap E New 0.16% +0.16
VTV Vanguard Mrngstr Val ETF-Aui Add +13.1% 1.77% +0.15
IVW iShares S&P 500 Growth ETF Add +26.4% 0.80% +0.14
IVE iShares S&P 500 Value ETF Add +3.8% 17.62% +0.14
VOE Vngrd Mrngstr MD-Cap Val ETF Add +13.5% 1.12% +0.09
VBR Vngrd Mrngst SL-CP Val ETF-U Add +79.2% 0.21% +0.09
VTWO Vanguard Russell 2000 ETF Add +92.2% 0.18% +0.08
ITOT iShares Core S&P Total U.S. Add +154.3% 0.13% +0.08
AGG iShares Core U.S. Aggregate Add +13.8% 0.98% +0.07
GOOG Alphabet Inc. Class C Add +11.9% 0.23% +0.06
XLV SS Health Care Select Sector Add +21.9% 0.24% +0.05
AMZN Amazon.com Inc. Add +11.2% 0.45% +0.04
MSFT Microsoft Corp. Add +35.5% 0.22% +0.04
IEMG iShares Core MSCI Emerging Add +11.9% 0.42% +0.03
VEA Vanguard Ftse Developed ETF Add +4.7% 0.89% +0.03
META Meta Platforms Inc. Class A Add +53.7% 0.12% +0.03
AVGO Broadcom Inc. Add +5.6% 0.50% +0.02
V Visa Inc. Class A Add +39.5% 0.08% +0.02
IWF iShares Russell 1000 Growth Add +22.0% 0.15% +0.02
VOO Vanguard S&P 500 ETF Add +7.5% 0.41% +0.02
EMXC iShares MSCI Emr MRK Ex Chna Add +9.3% 0.16% +0.02
QUAL iShares MSCI USA Quality Fac Add +8.6% 0.34% +0.02
VB Vanguard Most SM-Cap ETF-Usd Add +13.7% 0.15% +0.01
AAPL Apple Inc. Add +3.7% 0.27% +0.01
UNH Unitedhealth Group Inc. Add +17.4% 0.20% +0.01
XLK SS Technology Select Sector Add +4.3% 0.43% +0.00
CRWD CrowdStrike Holdings Inc. Class A Add +13.3% 0.08% +0.00
PHO Invesco Water Resources ETF Add +7.6% 0.10% −0.00
VEU Vanguard Ftse All-World Ex-U Add +0.3% 0.06% −0.00
XLRE SS Real Estate Select Sector Add +6.8% 0.05% −0.00
VTI VG Morningstar TS MKT ETF-US Add +3.0% 0.59% −0.00
IWR iShares Russell Mid-Cap ETF Add +5.8% 1.19% −0.00
IYF iShares US Financials ETF Add +1.8% 0.16% −0.00
ITA iShares U.S. Aerospace & Def Add +0.1% 0.11% −0.00
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +1.6% 0.06% −0.00
SLYV SS SPDR S&P 600 SC Val ETF Add +2.8% 2.32% −0.01
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +0.5% 0.21% −0.01
VXF Vanguard Extended Market ETF Add +0.8% 0.19% −0.01
VONV Vanguard Russell 1000 Value Add +0.2% 0.47% −0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +0.5% 0.31% −0.01
ICVT iShares Convertible Bond ETF Add +0.6% 0.17% −0.01
VONE Vanguard Russell 1000 Add +2.4% 1.25% −0.01
EELV Invesco S&P Emerging Markets Add +1.5% 1.24% −0.01
JMST JPM Ultra-Short Muni Income Add +4.7% 1.18% −0.01

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