Refined Wealth Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Refined Wealth Management reported 27 stock positions worth $122.2 million. Its top holding was Vanguard Total Intl Bond ETF (BNDX) at 13.3% of the portfolio, followed by Vanguard ESG Intl Stock ETF (VSGX, 11.7%) and Invesco QQQ Trust Series 1 (QQQ, 9.4%). Compared with Q4 2024, it opened 3 new positions, sold out of 3, added to 7 and reduced 11. The biggest buy was a new position in Invesco QQQ Trust Series 1 (QQQ) and the biggest sale Nuveen ESG LRG-Cap GRW ETF (NULG, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001724729
- Portfolio Value
- $122.2M (Q1 2025)
- SEC Filing
- 0001724729-25-000003 ↗ filed Apr 22, 2025
Holdings Value
Holdings 27 stocks · $122.2M
| BNDX Vanguard Total Intl Bond ETF | 13.35% | 334,233 | $16.3M | Reduce -10.5% |
| VSGX Vanguard ESG Intl Stock ETF | 11.66% | 241,653 | $14.3M | Reduce -12.7% |
| QQQ Invesco QQQ Trust Series 1 | 9.43% | 24,582 | $11.5M | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 9.09% | 64,348 | $11.1M | New |
| COIN Coinbase Global Inc. Class A | 8.14% | 57,808 | $10.0M | Add +16.4% |
| SRLN SS Blackstone Sr Loan ETF | 7.07% | 210,079 | $8.6M | Reduce -2.1% |
| BITB Bitwise Bitcoin ETF | 6.55% | 178,316 | $8.0M | Add +31.7% |
| BIV Vanguard Intermediate-Term B | 6.08% | 97,044 | $7.4M | New |
| TLT iShares 20+ Year Treasury BD | 4.24% | 56,930 | $5.2M | Reduce -33.7% |
| VCLT Vanguard Long-Term Corp. Bond | 4.08% | 65,644 | $5.0M | Reduce -35.5% |
| ENVX Enovix Corp. | 4.06% | 675,449 | $5.0M | Add +18.8% |
| GLD SPDR Gold Shares | 3.96% | 16,787 | $4.8M | Reduce -33.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 2.75% | 13,000 | $3.4M | Reduce -36.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 2.49% | 13,718 | $3.0M | Add +121.9% |
| NXH Neighborhood Intelligence Inc. filed as BEYOND INC | 1.98% | 417,987 | $2.4M | Add +4.2% |
| NULG Nuveen ESG LRG-Cap GRW ETF | 0.86% | 13,421 | $1.1M | Reduce -93.9% |
| VOO Vanguard S&P 500 ETF | 0.82% | 1,957 | $1.0M | Add +35.6% |
| FTSM First Trust Enh Short Mat FD | 0.72% | 14,811 | $886K | No change |
| AMZN Amazon.com Inc. | 0.71% | 4,536 | $863K | Reduce -6.1% |
| AAPL Apple Inc. | 0.54% | 2,969 | $660K | Reduce -76.7% |
| UNP Union Pacific Corp. | 0.46% | 2,389 | $564K | Add +0.6% |
| NVDA Nvidia Corp. | 0.44% | 4,935 | $535K | Reduce -2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.30% | 698 | $372K | No change |
| SUSA iShares ESG Optimized MSCI U | 0.17% | 1,833 | $211K | No change |
| NXE Nexgen Energy Ltd. | 0.04% | 11,000 | $49K | No change |
| DNN Denison Mines Corp. | 0.01% | 10,850 | $14K | No change |
| URG Ur-Energy Inc. | 0.01% | 10,800 | $7K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| NULG Nuveen ESG LRG-Cap GRW ETF | Reduce -93.9% | 0.86% | −13.46 |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | Sold out | 0.00% | −3.86 |
| AAPL Apple Inc. | Reduce -76.7% | 0.54% | −1.89 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -35.5% | 4.08% | −1.72 |
| TLT iShares 20+ Year Treasury BD | Reduce -33.7% | 4.24% | −1.47 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -36.5% | 2.75% | −1.37 |
| PIZ Invesco Dorsey Wright Develo | Sold out | 0.00% | −0.82 |
| GLD SPDR Gold Shares | Reduce -33.2% | 3.96% | −0.67 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -10.5% | 13.35% | −0.60 |
| VSGX Vanguard ESG Intl Stock ETF | Reduce -12.7% | 11.66% | −0.28 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.16 |
| AMZN Amazon.com Inc. | Reduce -6.1% | 0.71% | −0.10 |
| NVDA Nvidia Corp. | Reduce -2.5% | 0.44% | −0.08 |
| SRLN SS Blackstone Sr Loan ETF | Reduce -2.1% | 7.07% | +0.25 |
Portfolio Buys Q4 2024 → Q1 2025
| QQQ Invesco QQQ Trust Series 1 | New | 9.43% | +9.43 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 9.09% | +9.09 |
| BIV Vanguard Intermediate-Term B | New | 6.08% | +6.08 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +121.9% | 2.49% | +1.36 |
| BITB Bitwise Bitcoin ETF | Add +31.7% | 6.55% | +1.31 |
| NXH Neighborhood Intelligence Inc. | Add +4.2% | 1.98% | +0.48 |
| VOO Vanguard S&P 500 ETF | Add +35.6% | 0.82% | +0.23 |
| UNP Union Pacific Corp. | Add +0.6% | 0.46% | +0.05 |
| ENVX Enovix Corp. | Add +18.8% | 4.06% | −0.65 |
| COIN Coinbase Global Inc. Class A | Add +16.4% | 8.14% | −1.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 49 | $165.7M | VEA, QQQ, RSP, COIN, PYLD |
| Q1 2026 | 50 | $158.4M | VEA, QQQ, RSP, COIN, CVX |
| Q4 2025 | 43 | $148.6M | VSGX, QQQ, BNDX, COIN, VTV |
| Q3 2025 | 36 | $155.6M | COIN, VSGX, BNDX, QQQ, VTV |
| Q2 2025 | 33 | $145.5M | COIN, BNDX, VSGX, QQQ, VTV |
| Q1 2025 | 27 | $122.2M | BNDX, VSGX, QQQ, VTV, COIN |
| Q4 2024 | 27 | $131.4M | NULG, BNDX, VSGX, COIN, SRLN |
| Q3 2024 | 27 | $129.7M | BNDX, NULG, VSGX, SRLN, COIN |
| Q2 2024 | 28 | $129.7M | NULG, BNDX, VSGX, COIN, SRLN |
| Q1 2024 | 29 | $142.0M | BNDX, NULG, VSGX, COIN, NXH |