Mader & Shannon Wealth Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Mader & Shannon Wealth Management, Inc. reported 23 stock positions worth $204.0 million. Its top holding was iShares Gold Trust (IAU) at 14.5% of the portfolio, followed by SPDR Gold Shares (GLD, 14.5%) and iShares 1-3 Year Treasury Bo (SHY, 13.6%). Compared with Q2 2025, it opened 2 new positions, sold out of 1, added to 18 and reduced 3. The biggest buy was a new position in Invesco Variable Rate Prefer (VRP) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- KANSAS CITY, MO
- CIK
- 0001535862
- Portfolio Value
- $204.0M (Q3 2025)
- SEC Filing
- 0001535862-25-000006 ↗ filed Nov 12, 2025
Holdings Value
Holdings 23 stocks · $204.0M
| IAU iShares Gold Trust | 14.46% | 405,365 | $29.5M | Add +1.6% |
| GLD SPDR Gold Shares | 14.45% | 82,959 | $29.5M | Add +1.5% |
| SHY iShares 1-3 Year Treasury Bo | 13.65% | 335,645 | $27.8M | Reduce -24.3% |
| VRP Invesco Variable Rate Prefer | 10.37% | 856,829 | $21.2M | New |
| PGX Invesco Preferred ETF | 7.08% | 1,245,561 | $14.4M | New |
| GDX Vaneck Gold Miners ETF | 5.72% | 152,812 | $11.7M | Add +2.6% |
| MLM Martin Marietta Materials | 3.58% | 11,601 | $7.3M | Add +2.0% |
| TMO Thermo Fisher Scientific Inc. | 3.49% | 14,693 | $7.1M | Add +1.7% |
| CDW CDW Corp. | 3.49% | 44,645 | $7.1M | Add +1.8% |
| KNX Knight-Swift Transportation | 2.77% | 142,933 | $5.6M | Add +0.6% |
| AMZN Amazon.com Inc. | 2.55% | 23,680 | $5.2M | Add +1.6% |
| UNH Unitedhealth Group Inc. | 2.53% | 14,951 | $5.2M | Add +1.7% |
| FSLR First Solar Inc. | 2.23% | 20,656 | $4.6M | Add +4.0% |
| DHI D.R. Horton Inc. | 1.96% | 23,550 | $4.0M | Add +4.1% |
| ITB iShares U.S. Home Constructi | 1.92% | 36,582 | $3.9M | Add +4.7% |
| DINO HF Sinclair Corp. | 1.75% | 68,242 | $3.6M | Add +1.0% |
| MPC Marathon Petroleum Corp. | 1.58% | 16,759 | $3.2M | Add +1.1% |
| SHV iShares 0-1 Year Treasury Bo | 1.54% | 28,475 | $3.1M | Reduce -68.9% |
| VLO Valero Energy Corp. | 1.52% | 18,218 | $3.1M | Add +0.6% |
| PSX Phillips 66 | 1.38% | 20,661 | $2.8M | Add +1.7% |
| XLB SS Materials Select Sector | 1.00% | 22,683 | $2.0M | Add +4.2% |
| SGOV iShares 0-3 Month Treasury B | 0.85% | 17,270 | $1.7M | Reduce -90.8% |
| WMT Walmart Inc. | 0.12% | 2,432 | $251K | Add +0.8% |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
| VRP Invesco Variable Rate Prefer | New | 10.37% | +10.37 |
| PGX Invesco Preferred ETF | New | 7.08% | +7.08 |
| GDX Vaneck Gold Miners ETF | Add +2.6% | 5.72% | +1.50 |
| IAU iShares Gold Trust | Add +1.6% | 14.46% | +0.90 |
| GLD SPDR Gold Shares | Add +1.5% | 14.45% | +0.89 |
| FSLR First Solar Inc. | Add +4.0% | 2.23% | +0.44 |
| DHI D.R. Horton Inc. | Add +4.1% | 1.96% | +0.37 |
| TMO Thermo Fisher Scientific Inc. | Add +1.7% | 3.49% | +0.30 |
| DINO HF Sinclair Corp. | Add +1.0% | 1.75% | +0.24 |
| VLO Valero Energy Corp. | Add +0.6% | 1.52% | +0.19 |
| MLM Martin Marietta Materials | Add +2.0% | 3.58% | +0.18 |
| ITB iShares U.S. Home Constructi | Add +4.7% | 1.92% | +0.15 |
| MPC Marathon Petroleum Corp. | Add +1.1% | 1.58% | +0.08 |
| PSX Phillips 66 | Add +1.7% | 1.38% | +0.06 |
| UNH Unitedhealth Group Inc. | Add +1.7% | 2.53% | +0.03 |
| WMT Walmart Inc. | Add +0.8% | 0.12% | −0.01 |
| XLB SS Materials Select Sector | Add +4.2% | 1.00% | −0.04 |
| AMZN Amazon.com Inc. | Add +1.6% | 2.55% | −0.24 |
| KNX Knight-Swift Transportation | Add +0.6% | 2.77% | −0.65 |
| CDW CDW Corp. | Add +1.8% | 3.49% | −0.78 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 21 | $214.1M | SGOV, IAU, GLD, SHY, VRP |
| Q1 2026 | 20 | $216.1M | SGOV, IAU, GLD, SHY, VRP |
| Q4 2025 | 23 | $204.0M | IAU, GLD, SHY, VRP, PGX |
| Q3 2025 | 23 | $204.0M | IAU, GLD, SHY, VRP, PGX |
| Q2 2025 | 22 | $183.6M | SHY, GLD, IAU, SGOV, SHV |
| Q1 2025 | 21 | $175.3M | GLD, IAU, SGOV, SHYG, GDX |
| Q4 2024 | 21 | $161.7M | GLD, IAU, SGOV, SHV, SHYG |
| Q3 2024 | 15 | $172.0M | GLD, IAU, SGOV, SHV, IGLB |
| Q2 2024 | 12 | $166.4M | SGOV, SHV, GLD, IAU, VCLT |
| Q1 2024 | 11 | $178.3M | SGOV, SHV, GLD, IAU, CDW |