NDWM LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), NDWM LLC reported 31 stock positions worth $136.6 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 30.4% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 19.2%) and SS Spdrb B 3-12M T-Bill ETF (BILS, 10.2%). Compared with Q1 2025, it opened 3 new positions, sold out of 5, added to 17 and reduced 8. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +602%) and the biggest sale SS Spdrb B 3-12M T-Bill ETF (BILS, shares −17%).
- Most Recent 13F
- Q2 2026
- Location
- LA JOLLA, CA
- CIK
- 0001818386
- Portfolio Value
- $136.6M (Q2 2025)
- SEC Filing
- 0001085146-25-004375 ↗ filed Jul 31, 2025
Holdings Value
Holdings 31 stocks · $136.6M
| IVV iShares Core S&P 500 ETF | 30.38% | 66,824 | $41.5M | Add +1.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 19.23% | 42,498 | $26.3M | Add +601.5% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 10.20% | 140,079 | $13.9M | Reduce -16.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 5.49% | 81,660 | $7.5M | Reduce -30.7% |
| RSP Invesco S&P 500 Equal Weight | 4.90% | 36,820 | $6.7M | Reduce -0.0% |
| GLD SPDR Gold Shares | 4.28% | 19,195 | $5.9M | Add +295.0% |
| CMF iShares California Muni Bond | 3.94% | 96,464 | $5.4M | Add +121.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.54% | 7,152 | $3.5M | Add +14.0% |
| AGG iShares Core U.S. Aggregate | 2.07% | 28,494 | $2.8M | Add +6.0% |
| VTEC Vanguard Ca Tax-Ex Bond | 1.78% | 24,955 | $2.4M | New |
| NOW ServiceNow Inc. | 1.77% | 2,349 | $2.4M | Reduce -7.8% |
| XLK SS Technology Select Sector | 1.44% | 7,750 | $2.0M | Reduce -2.7% |
| CALI Ishrs SH-TRM Ca Muni Act ETF | 1.37% | 37,169 | $1.9M | New |
| SUB iShares Short-Term National | 1.32% | 16,907 | $1.8M | Add +219.7% |
| MUB iShares National Muni Bond E | 1.21% | 15,808 | $1.7M | Add +196.2% |
| SHY iShares 1-3 Year Treasury Bo | 1.18% | 19,505 | $1.6M | Add +0.1% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 1.08% | 29,038 | $1.5M | Reduce -1.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.87% | 2,151 | $1.2M | Add +4.2% |
| TSLA Tesla Inc. | 0.81% | 3,503 | $1.1M | Add +1.2% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.62% | 19,673 | $849K | Add +1.4% |
| AAPL Apple Inc. | 0.51% | 3,386 | $695K | Add +0.7% |
| NYF iShares New York Muni Bond E | 0.48% | 12,583 | $656K | No change |
| NTSX Wisdomtree US Efficient Core | 0.45% | 12,347 | $618K | Reduce -10.7% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.37% | 12,015 | $510K | Add +0.3% |
| PZT Invesco New York Amt-Free Mu | 0.32% | 20,161 | $436K | Reduce -31.4% |
| IEI iShares 3-7 Year Treasury Bo | 0.31% | 3,501 | $417K | Add +0.3% |
| MSFT Microsoft Corp. | 0.30% | 837 | $416K | Add +0.1% |
| D Dominion Energy Inc. | 0.23% | 5,500 | $311K | New |
| META Meta Platforms Inc. Class A | 0.20% | 379 | $279K | Add +1.6% |
| BA The Boeing Co. | 0.19% | 1,227 | $257K | No change |
| LLY Eli Lilly & Co. | 0.15% | 270 | $210K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -16.5% | 10.20% | −6.12 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -30.7% | 5.49% | −5.09 |
| EQL CI Inv SP 500 Equ Weg Ind-Ui | Sold out | 0.00% | −1.94 |
| RSP Invesco S&P 500 Equal Weight | Reduce -0.0% | 4.90% | −1.34 |
| PHYS Sprott Physical Gold Trust | Sold out | 0.00% | −0.45 |
| SLQD iShares 0-5 YR Inv GRD Corp. | Reduce -1.3% | 1.08% | −0.37 |
| PZT Invesco New York Amt-Free Mu | Reduce -31.4% | 0.32% | −0.32 |
| IWN iShares Russell 2000 Value E | Sold out | 0.00% | −0.23 |
| NOW ServiceNow Inc. | Reduce -7.8% | 1.77% | −0.22 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.21 |
| IJS iShares S&P Small-Cap 600 Va | Sold out | 0.00% | −0.20 |
| XLK SS Technology Select Sector | Reduce -2.7% | 1.44% | −0.17 |
| NTSX Wisdomtree US Efficient Core | Reduce -10.7% | 0.45% | −0.16 |
Portfolio Buys Q1 2025 → Q2 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +601.5% | 19.23% | +15.91 |
| GLD SPDR Gold Shares | Add +295.0% | 4.28% | +2.92 |
| VTEC Vanguard Ca Tax-Ex Bond | New | 1.78% | +1.78 |
| CMF iShares California Muni Bond | Add +121.4% | 3.94% | +1.54 |
| CALI Ishrs SH-TRM Ca Muni Act ETF | New | 1.37% | +1.37 |
| SUB iShares Short-Term National | Add +219.7% | 1.32% | +0.77 |
| MUB iShares National Muni Bond E | Add +196.2% | 1.21% | +0.66 |
| D Dominion Energy Inc. | New | 0.23% | +0.23 |
| MSFT Microsoft Corp. | Add +0.1% | 0.30% | −0.00 |
| META Meta Platforms Inc. Class A | Add +1.6% | 0.20% | −0.01 |
| TSLA Tesla Inc. | Add +1.2% | 0.81% | −0.06 |
| QQQ Invesco QQQ Trust Series 1 | Add +4.2% | 0.87% | −0.08 |
| IEI iShares 3-7 Year Treasury Bo | Add +0.3% | 0.31% | −0.10 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Add +0.3% | 0.37% | −0.14 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +1.4% | 0.62% | −0.18 |
| AAPL Apple Inc. | Add +0.7% | 0.51% | −0.22 |
| SHY iShares 1-3 Year Treasury Bo | Add +0.1% | 1.18% | −0.39 |
| AGG iShares Core U.S. Aggregate | Add +6.0% | 2.07% | −0.53 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +14.0% | 2.54% | −0.72 |
| IVV iShares Core S&P 500 ETF | Add +1.7% | 30.38% | −5.70 |
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 |