NDWM LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), NDWM LLC reported 33 stock positions worth $102.3 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 36.1% of the portfolio, followed by SS Spdrb B 3-12M T-Bill ETF (BILS, 16.3%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 10.6%). Compared with Q4 2024, it opened 5 new positions, sold out of 3, added to 12 and reduced 10. The biggest buy was SS Spdrb B 3-12M T-Bill ETF (BILS, shares +2%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- LA JOLLA, CA
- CIK
- 0001818386
- Portfolio Value
- $102.3M (Q1 2025)
- SEC Filing
- 0001085146-25-002557 ↗ filed May 2, 2025
Holdings Value
Holdings 33 stocks · $102.3M
| IVV iShares Core S&P 500 ETF | 36.08% | 65,696 | $36.9M | Reduce -5.1% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 16.32% | 167,836 | $16.7M | Add +1.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 10.57% | 117,893 | $10.8M | Reduce -3.2% |
| RSP Invesco S&P 500 Equal Weight | 6.24% | 36,826 | $6.4M | Add +3.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.31% | 6,058 | $3.4M | Reduce -69.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.27% | 6,273 | $3.3M | Add +6.9% |
| AGG iShares Core U.S. Aggregate | 2.60% | 26,882 | $2.7M | Add +65.5% |
| CMF iShares California Muni Bond | 2.40% | 43,571 | $2.5M | Add +248.7% |
| NOW ServiceNow Inc. | 1.98% | 2,549 | $2.0M | Add +5.5% |
| EQL CI Inv SP 500 Equ Weg Ind-Ui | 1.94% | 15,731 | $2.0M | Add +1.3% |
| XLK SS Technology Select Sector | 1.61% | 7,965 | $1.6M | Reduce -54.7% |
| SHY iShares 1-3 Year Treasury Bo | 1.58% | 19,491 | $1.6M | Add +11.2% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 1.45% | 29,407 | $1.5M | Add +57.4% |
| GLD SPDR Gold Shares | 1.37% | 4,860 | $1.4M | Add +37.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.95% | 2,065 | $968K | Reduce -64.2% |
| TSLA Tesla Inc. | 0.88% | 3,462 | $897K | Reduce -2.8% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.81% | 19,403 | $825K | Add +205.9% |
| AAPL Apple Inc. | 0.73% | 3,364 | $747K | Add +1.3% |
| NYF iShares New York Muni Bond E | 0.65% | 12,583 | $662K | No change |
| PZT Invesco New York Amt-Free Mu | 0.63% | 29,390 | $650K | No change |
| NTSX Wisdomtree US Efficient Core | 0.61% | 13,828 | $627K | Reduce -8.1% |
| MUB iShares National Muni Bond E | 0.55% | 5,337 | $563K | New |
| SUB iShares Short-Term National | 0.55% | 5,289 | $559K | New |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.52% | 11,982 | $530K | New |
| PHYS Sprott Physical Gold Trust | 0.45% | 19,065 | $459K | No change |
| IEI iShares 3-7 Year Treasury Bo | 0.40% | 3,492 | $413K | New |
| MSFT Microsoft Corp. | 0.31% | 836 | $314K | No change |
| IWN iShares Russell 2000 Value E | 0.23% | 1,561 | $236K | Reduce -33.9% |
| LLY Eli Lilly & Co. | 0.22% | 270 | $223K | No change |
| META Meta Platforms Inc. Class A | 0.21% | 373 | $215K | New |
| XLE SS Energy Select Sector | 0.21% | 2,279 | $213K | Reduce -21.2% |
| BA The Boeing Co. | 0.20% | 1,227 | $209K | No change |
| IJS iShares S&P Small-Cap 600 Va | 0.20% | 2,083 | $203K | Reduce -93.1% |
Portfolio Sells Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -69.5% | 3.31% | −6.40 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -93.1% | 0.20% | −2.56 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −2.13 |
| XLK SS Technology Select Sector | Reduce -54.7% | 1.61% | −1.81 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -64.2% | 0.95% | −1.52 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −1.03 |
| TSLA Tesla Inc. | Reduce -2.8% | 0.88% | −0.33 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −0.29 |
| IWN iShares Russell 2000 Value E | Reduce -33.9% | 0.23% | −0.09 |
| XLE SS Energy Select Sector | Reduce -21.2% | 0.21% | +0.00 |
| NTSX Wisdomtree US Efficient Core | Reduce -8.1% | 0.61% | +0.03 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -3.2% | 10.57% | +1.26 |
| IVV iShares Core S&P 500 ETF | Reduce -5.1% | 36.08% | +2.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BILS SS Spdrb B 3-12M T-Bill ETF | Add +1.7% | 16.32% | +2.64 |
| CMF iShares California Muni Bond | Add +248.7% | 2.40% | +1.80 |
| AGG iShares Core U.S. Aggregate | Add +65.5% | 2.60% | +1.28 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +6.9% | 3.27% | +1.04 |
| RSP Invesco S&P 500 Equal Weight | Add +3.4% | 6.24% | +1.02 |
| SLQD iShares 0-5 YR Inv GRD Corp. | Add +57.4% | 1.45% | +0.67 |
| GLD SPDR Gold Shares | Add +37.1% | 1.37% | +0.65 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +205.9% | 0.81% | +0.58 |
| MUB iShares National Muni Bond E | New | 0.55% | +0.55 |
| SUB iShares Short-Term National | New | 0.55% | +0.55 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | New | 0.52% | +0.52 |
| IEI iShares 3-7 Year Treasury Bo | New | 0.40% | +0.40 |
| SHY iShares 1-3 Year Treasury Bo | Add +11.2% | 1.58% | +0.37 |
| EQL CI Inv SP 500 Equ Weg Ind-Ui | Add +1.3% | 1.94% | +0.31 |
| META Meta Platforms Inc. Class A | New | 0.21% | +0.21 |
| AAPL Apple Inc. | Add +1.3% | 0.73% | +0.04 |
| NOW ServiceNow Inc. | Add +5.5% | 1.98% | −0.16 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 38 | $170.2M | IVV, RSP, AGG, BILS, GLD |
| Q1 2026 | 37 | $154.2M | IVV, RSP, AGG, BILS, GLD |
| Q4 2025 | 33 | $151.1M | IVV, SPY, BILS, GLD, BIL |
| Q3 2025 | 34 | $147.4M | IVV, SPY, BILS, BIL, GLD |
| Q2 2025 | 31 | $136.6M | IVV, SPY, BILS, BIL, RSP |
| Q1 2025 | 33 | $102.3M | IVV, BILS, BIL, RSP, SPY |
| Q4 2024 | 31 | $119.6M | IVV, BILS, SPY, BIL, RSP |
| Q3 2024 | 32 | $121.3M | IVV, BILS, BIL, SPY, RSP |
| Q2 2024 | 33 | $112.8M | IVV, BILS, BIL, RSP, XLK |
| Q1 2024 | 32 | $109.8M | IVV, BILS, BIL, RSP, XLK |