Refined Wealth Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 15, 2026), Refined Wealth Management reported 43 stock positions worth $148.6 million. Its top holding was Vanguard ESG Intl Stock ETF (VSGX) at 11.5% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 10.6%) and Vanguard Total Intl Bond ETF (BNDX, 10.2%). Compared with Q3 2025, it opened 7 new positions, sold out of 1, added to 21 and reduced 9. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +5%) and the biggest sale an exit from iShares Bitcoin Trust ETF (IBIT).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001724729
- Portfolio Value
- $148.6M (Q4 2025)
- SEC Filing
- 0001724729-26-000001 ↗ filed Jan 15, 2026
Holdings Value
Holdings 43 stocks · $148.6M
| VSGX Vanguard ESG Intl Stock ETF | 11.51% | 238,673 | $17.1M | Reduce -0.9% |
| QQQ Invesco QQQ Trust Series 1 | 10.60% | 25,626 | $15.7M | Add +4.7% |
| BNDX Vanguard Total Intl Bond ETF | 10.18% | 313,035 | $15.1M | Reduce -0.1% |
| COIN Coinbase Global Inc. Class A | 8.91% | 58,518 | $13.2M | Add +0.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 8.33% | 64,777 | $12.4M | Reduce -0.3% |
| BITB Bitwise Bitcoin ETF | 6.40% | 199,766 | $9.5M | Add +6.4% |
| SRLN SS Blackstone Sr Loan ETF | 6.11% | 219,927 | $9.1M | Add +0.4% |
| BIV Vanguard Intermediate-Term B | 5.14% | 98,070 | $7.6M | Reduce -3.7% |
| GLD SPDR Gold Shares | 4.41% | 16,547 | $6.6M | Add +1.5% |
| ENVX Enovix Corp. | 3.98% | 807,937 | $5.9M | Add +1.1% |
| VCLT Vanguard Long-Term Corp. Bond | 3.41% | 66,754 | $5.1M | Reduce -1.4% |
| TLT iShares 20+ Year Treasury BD | 3.40% | 58,006 | $5.1M | Reduce -1.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 2.61% | 13,363 | $3.9M | Add +1.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 2.46% | 14,167 | $3.7M | Add +0.5% |
| NXH Neighborhood Intelligence Inc. filed as BED BATH & BEYOND INC | 1.53% | 417,346 | $2.3M | Add +0.3% |
| XRPI XRP ETF | 1.24% | 174,132 | $1.8M | Add +8.3% |
| VEA Vanguard Ftse Developed ETF | 1.06% | 25,152 | $1.6M | Add +206.6% |
| NVDA Nvidia Corp. | 0.85% | 6,810 | $1.3M | Add +39.4% |
| VOO Vanguard S&P 500 ETF | 0.83% | 1,966 | $1.2M | Add +0.1% |
| NULG Nuveen ESG LRG-Cap GRW ETF | 0.82% | 12,510 | $1.2M | Add +0.0% |
| AMZN Amazon.com Inc. | 0.80% | 5,132 | $1.2M | Add +19.5% |
| AAPL Apple Inc. | 0.59% | 3,211 | $873K | Add +12.7% |
| FTSM First Trust Enh Short Mat FD | 0.57% | 14,209 | $852K | Reduce -4.1% |
| XMAG Defiance Le Cap Ex-Mag 7 ETF | 0.53% | 34,566 | $780K | Add +125.2% |
| RSP Invesco S&P 500 Equal Weight | 0.41% | 3,162 | $606K | New |
| UNP Union Pacific Corp. | 0.38% | 2,459 | $569K | Add +0.8% |
| VWO Vanguard Ftse Emerging Marke | 0.35% | 9,677 | $520K | New |
| META Meta Platforms Inc. Class A | 0.33% | 735 | $485K | Add +99.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.29% | 860 | $432K | No change |
| MSFT Microsoft Corp. | 0.28% | 875 | $423K | New |
| TSLA Tesla Inc. | 0.22% | 741 | $333K | Add +10.9% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.21% | 1,143 | $319K | New |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.19% | 942 | $285K | New |
| GLDM SPDR Gold Minishares Trust | 0.18% | 3,072 | $262K | No change |
| BND Vanguard Total Bond Market | 0.18% | 3,517 | $261K | New |
| SUSA iShares ESG Optimized MSCI U | 0.17% | 1,812 | $252K | Reduce -1.1% |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | 0.16% | 6,048 | $236K | Add +0.1% |
| ETN Eaton Corp. PLC | 0.14% | 641 | $204K | No change |
| AVGO Broadcom Inc. | 0.14% | 581 | $201K | New |
| NXE Nexgen Energy Ltd. | 0.07% | 11,000 | $101K | No change |
| DNN Denison Mines Corp. | 0.02% | 10,850 | $29K | No change |
| BED BATH & BEYOND INC | 0.02% | 41,161 | $27K | Reduce -1.1% |
| URG Ur-Energy Inc. | 0.01% | 10,800 | $15K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −0.15 |
| BED BATH & BEYOND INC | Reduce -1.1% | 0.02% | +0.00 |
| FTSM First Trust Enh Short Mat FD | Reduce -4.1% | 0.57% | +0.00 |
| SUSA iShares ESG Optimized MSCI U | Reduce -1.1% | 0.17% | +0.01 |
| TLT iShares 20+ Year Treasury BD | Reduce -1.6% | 3.40% | +0.02 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -1.4% | 3.41% | +0.03 |
| BIV Vanguard Intermediate-Term B | Reduce -3.7% | 5.14% | +0.03 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -0.1% | 10.18% | +0.22 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -0.3% | 8.33% | +0.54 |
| VSGX Vanguard ESG Intl Stock ETF | Reduce -0.9% | 11.51% | +0.77 |
Portfolio Buys Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | Add +4.7% | 10.60% | +1.16 |
| VEA Vanguard Ftse Developed ETF | Add +206.6% | 1.06% | +0.74 |
| GLD SPDR Gold Shares | Add +1.5% | 4.41% | +0.69 |
| RSP Invesco S&P 500 Equal Weight | New | 0.41% | +0.41 |
| VWO Vanguard Ftse Emerging Marke | New | 0.35% | +0.35 |
| XMAG Defiance Le Cap Ex-Mag 7 ETF | Add +125.2% | 0.53% | +0.31 |
| MSFT Microsoft Corp. | New | 0.28% | +0.28 |
| NVDA Nvidia Corp. | Add +39.4% | 0.85% | +0.27 |
| SRLN SS Blackstone Sr Loan ETF | Add +0.4% | 6.11% | +0.25 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | New | 0.21% | +0.21 |
| AMZN Amazon.com Inc. | Add +19.5% | 0.80% | +0.19 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | New | 0.19% | +0.19 |
| BND Vanguard Total Bond Market | New | 0.18% | +0.18 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.5% | 2.46% | +0.16 |
| META Meta Platforms Inc. Class A | Add +99.7% | 0.33% | +0.15 |
| AVGO Broadcom Inc. | New | 0.14% | +0.14 |
| AAPL Apple Inc. | Add +12.7% | 0.59% | +0.12 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +1.0% | 2.61% | +0.11 |
| VOO Vanguard S&P 500 ETF | Add +0.1% | 0.83% | +0.06 |
| TSLA Tesla Inc. | Add +10.9% | 0.22% | +0.03 |
| NULG Nuveen ESG LRG-Cap GRW ETF | Add +0.0% | 0.82% | +0.02 |
| UNP Union Pacific Corp. | Add +0.8% | 0.38% | +0.01 |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | Add +0.1% | 0.16% | +0.01 |
| XRPI XRP ETF | Add +8.3% | 1.24% | −0.55 |
| NXH Neighborhood Intelligence Inc. | Add +0.3% | 1.53% | −1.08 |
| BITB Bitwise Bitcoin ETF | Add +6.4% | 6.40% | −1.11 |
| ENVX Enovix Corp. | Add +1.1% | 3.98% | −1.15 |
| COIN Coinbase Global Inc. Class A | Add +0.8% | 8.91% | −3.68 |
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 |