TLWM
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), TLWM reported 72 stock positions worth $546.3 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 20.7% of the portfolio, followed by iShares Russell 3000 ETF (IWV, 19.9%) and iShares MSCI Acwi Ex US ETF (ACWX, 9.5%). Compared with Q3 2025, it opened 5 new positions, sold out of 7, added to 23 and reduced 38. The biggest buy was Invesco Bulletshares 2029 CB (BSCT, shares +6742%) and the biggest sale an exit from Invesco Bulletshares 2025 CB (BSCP).
- Most Recent 13F
- Q2 2026
- Location
- SAN ANTONIO, TX
- CIK
- 0001732537
- Portfolio Value
- $546.3M (Q4 2025)
- SEC Filing
- 0001732537-26-000001 ↗ filed Jan 12, 2026
Holdings Value
Holdings 72 stocks · $546.3M
| SPY SS SPDR S&P 500 ETF Trust-US | 20.66% | 165,499 | $112.9M | Reduce -4.5% |
| IWV iShares Russell 3000 ETF | 19.91% | 281,190 | $108.8M | Reduce -4.8% |
| ACWX iShares MSCI Acwi Ex US ETF | 9.54% | 776,716 | $52.1M | Reduce -4.7% |
| BSCS Invesco Bulletshares 2028 CB | 5.68% | 1,505,622 | $31.0M | Add +9.5% |
| BSCQ Invesco Bulletshares 2026 CB | 5.65% | 1,576,845 | $30.9M | Reduce -0.6% |
| BSCU Invesco Bulletshares 2030 CB | 5.13% | 1,657,229 | $28.0M | Reduce -0.5% |
| BSCT Invesco Bulletshares 2029 CB | 5.05% | 1,464,068 | $27.6M | Add +6742.1% |
| BSCR Invesco Bulletshares 2027 CB | 4.40% | 1,216,436 | $24.0M | Add +2.9% |
| SPYG SS SPDR P S&P 500 Growth ETF | 4.39% | 224,775 | $24.0M | New |
| SGOV iShares 0-3 Month Treasury B | 4.29% | 233,603 | $23.4M | Reduce -52.1% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 0.74% | 166,596 | $4.0M | Reduce -5.0% |
| AAPL Apple Inc. | 0.72% | 14,449 | $3.9M | Add +3.4% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.67% | 40,340 | $3.7M | Add +151.1% |
| TSLA Tesla Inc. | 0.65% | 7,941 | $3.6M | Reduce -1.8% |
| GOOGL Alphabet Inc. Class A | 0.57% | 9,939 | $3.1M | Reduce -18.6% |
| AMZN Amazon.com Inc. | 0.54% | 12,881 | $3.0M | Reduce -0.7% |
| NVDA Nvidia Corp. | 0.51% | 14,980 | $2.8M | Add +0.7% |
| META Meta Platforms Inc. Class A | 0.51% | 4,191 | $2.8M | Add +23.4% |
| CRM Salesforce Inc. | 0.44% | 9,121 | $2.4M | Reduce -0.9% |
| WMT Walmart Inc. | 0.44% | 21,378 | $2.4M | Reduce -0.2% |
| MSFT Microsoft Corp. | 0.43% | 4,894 | $2.4M | Add +0.1% |
| CRS Carpenter Technology | 0.40% | 6,880 | $2.2M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 0.39% | 6,596 | $2.1M | Reduce -22.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 37,182 | $2.0M | Reduce -2.9% |
| MS Morgan Stanley | 0.37% | 11,341 | $2.0M | Reduce -22.0% |
| V Visa Inc. Class A | 0.36% | 5,576 | $2.0M | Reduce -1.7% |
| SCHW Schwab (charles) Corp. | 0.33% | 18,241 | $1.8M | Reduce -2.8% |
| VOO Vanguard S&P 500 ETF | 0.33% | 2,889 | $1.8M | Add +8.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.31% | 18,204 | $1.7M | Reduce -1.7% |
| RSG Republic Services Inc. | 0.30% | 7,862 | $1.7M | Reduce -2.0% |
| CVX Chevron Corp. | 0.28% | 9,903 | $1.5M | Reduce -1.7% |
| GD General Dynamics Corp. | 0.27% | 4,444 | $1.5M | Reduce -0.5% |
| BSX Boston Scientific Corp. | 0.26% | 15,154 | $1.4M | Reduce -1.9% |
| MRVL Marvell Technology Inc. | 0.25% | 16,386 | $1.4M | Reduce -1.9% |
| TWLO Twilio Inc. Class A | 0.25% | 9,415 | $1.3M | Reduce -0.3% |
| XOM Exxon Mobil Corp. | 0.23% | 10,244 | $1.2M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.22% | 2,434 | $1.2M | Reduce -12.3% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.22% | 14,648 | $1.2M | Add +3.5% |
| HON Honeywell International Inc. | 0.21% | 5,992 | $1.2M | Reduce -1.6% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.21% | 13,952 | $1.2M | Add +3.5% |
| ORCL Oracle Corp. | 0.21% | 5,861 | $1.1M | New |
| ZS Zscaler Inc. | 0.20% | 4,884 | $1.1M | Reduce -1.5% |
| UNH Unitedhealth Group Inc. | 0.17% | 2,895 | $956K | Add +2.1% |
| MCD McDonald's Corp. | 0.17% | 3,122 | $954K | Reduce -1.5% |
| NXPI NXP Semiconductors NV | 0.17% | 4,319 | $937K | Reduce -2.2% |
| J Jacobs Solutions Inc. | 0.16% | 6,580 | $872K | Reduce -1.6% |
| ADBE Adobe Inc. | 0.16% | 2,480 | $868K | Reduce -2.5% |
| IBDR iShares Ibonds Dec 2026 Term | 0.16% | 35,730 | $866K | Reduce -1.0% |
| NICE Nice Ltd. - Spon ADR | 0.15% | 7,441 | $841K | Reduce -2.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.15% | 1,333 | $819K | Add +3.6% |
| QYLD Global X Nasd 100 Cov Call | 0.13% | 41,155 | $727K | Add +1.1% |
| NTRA Natera Inc. | 0.12% | 2,973 | $681K | No change |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.12% | 14,446 | $642K | Add +3.4% |
| EMN Eastman Chemical Co. | 0.11% | 9,532 | $608K | Reduce -1.4% |
| BSMS Invesco Bulletshares 2028 MB | 0.10% | 23,159 | $544K | New |
| BSMT Invesco Bulletshares 2029 MB | 0.10% | 23,342 | $540K | Add +1.4% |
| BSMU Invesco Bulletshares 2030 MB | 0.10% | 24,013 | $529K | Add +0.4% |
| BSMR Invesco Bulletshares 2027 MB | 0.10% | 22,210 | $526K | No change |
| BSMQ Invesco Bulletshares 2026 MB | 0.10% | 22,069 | $522K | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 0.09% | 1,619 | $508K | Add +0.9% |
| STZ Constellation Brands Inc. Class A | 0.09% | 3,508 | $484K | Reduce -1.8% |
| COP Conocophillips | 0.09% | 4,972 | $465K | No change |
| SPLV Invesco S&P 500 Low Volatili | 0.08% | 5,869 | $419K | Reduce -2.2% |
| GLD SPDR Gold Shares | 0.08% | 1,050 | $416K | Add +1.6% |
| VONE Vanguard Russell 1000 | 0.07% | 1,309 | $405K | No change |
| XLK SS Technology Select Sector | 0.06% | 2,260 | $325K | Add +56.1% |
| AVGO Broadcom Inc. | 0.05% | 764 | $264K | New |
| VEU Vanguard Ftse All-World Ex-U | 0.05% | 3,554 | $261K | No change |
| KO The Coca-Cola Co. | 0.05% | 3,606 | $252K | Add +6.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.04% | 815 | $241K | Add +2.8% |
| NFLX Netflix Inc. | 0.04% | 2,310 | $217K | New |
| CMF iShares California Muni Bond | 0.04% | 3,556 | $204K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| BSCP Invesco Bulletshares 2025 CB | Sold out | 0.00% | −4.60 |
| SGOV iShares 0-3 Month Treasury B | Reduce -52.1% | 4.29% | −4.54 |
| IBDQ iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −1.12 |
| BSCX Invesco Bulletshares 2033 CB | Sold out | 0.00% | −0.30 |
| BSCW Invesco Bulletshares 2032 CB | Sold out | 0.00% | −0.26 |
| IWV iShares Russell 3000 ETF | Reduce -4.8% | 19.91% | −0.20 |
| BSCV Invesco Bulletshares 2031 CB | Sold out | 0.00% | −0.19 |
| BSCY Invesco Bulletshares 2034 CB | Sold out | 0.00% | −0.16 |
| JPM JPMorgan Chase & Co. | Reduce -22.9% | 0.39% | −0.10 |
| BSMP Invesco Bulletshares 2025 MB | Sold out | 0.00% | −0.09 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.5% | 20.66% | −0.08 |
| ZS Zscaler Inc. | Reduce -1.5% | 0.20% | −0.07 |
| MS Morgan Stanley | Reduce -22.0% | 0.37% | −0.05 |
| NICE Nice Ltd. - Spon ADR | Reduce -2.0% | 0.15% | −0.04 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Reduce -5.0% | 0.74% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -12.3% | 0.22% | −0.03 |
| RSG Republic Services Inc. | Reduce -2.0% | 0.30% | −0.03 |
| J Jacobs Solutions Inc. | Reduce -1.6% | 0.16% | −0.02 |
| HON Honeywell International Inc. | Reduce -1.6% | 0.21% | −0.02 |
| NXPI NXP Semiconductors NV | Reduce -2.2% | 0.17% | −0.01 |
| BSX Boston Scientific Corp. | Reduce -1.9% | 0.26% | −0.01 |
| CVX Chevron Corp. | Reduce -1.7% | 0.28% | −0.00 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -2.2% | 0.08% | −0.00 |
| ADBE Adobe Inc. | Reduce -2.5% | 0.16% | −0.00 |
| GD General Dynamics Corp. | Reduce -0.5% | 0.27% | 0.00 |
| IBDR iShares Ibonds Dec 2026 Term | Reduce -1.0% | 0.16% | +0.00 |
| BSMQ Invesco Bulletshares 2026 MB | Reduce -0.9% | 0.10% | +0.00 |
| MCD McDonald's Corp. | Reduce -1.5% | 0.17% | +0.00 |
| EMN Eastman Chemical Co. | Reduce -1.4% | 0.11% | +0.00 |
| STZ Constellation Brands Inc. Class A | Reduce -1.8% | 0.09% | +0.00 |
| MRVL Marvell Technology Inc. | Reduce -1.9% | 0.25% | +0.00 |
| TSLA Tesla Inc. | Reduce -1.8% | 0.65% | +0.01 |
| V Visa Inc. Class A | Reduce -1.7% | 0.36% | +0.01 |
| SCHW Schwab (charles) Corp. | Reduce -2.8% | 0.33% | +0.01 |
| BAC Bank of America Corp. | Reduce -2.9% | 0.37% | +0.02 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -4.7% | 9.54% | +0.02 |
| AMZN Amazon.com Inc. | Reduce -0.7% | 0.54% | +0.03 |
| GOOGL Alphabet Inc. Class A | Reduce -18.6% | 0.57% | +0.04 |
| WMT Walmart Inc. | Reduce -0.2% | 0.44% | +0.04 |
| CRM Salesforce Inc. | Reduce -0.9% | 0.44% | +0.05 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -1.7% | 0.31% | +0.05 |
| BSCQ Invesco Bulletshares 2026 CB | Reduce -0.6% | 5.65% | +0.07 |
| BSCU Invesco Bulletshares 2030 CB | Reduce -0.5% | 5.13% | +0.07 |
| TWLO Twilio Inc. Class A | Reduce -0.3% | 0.25% | +0.08 |
| CRS Carpenter Technology | Reduce -1.2% | 0.40% | +0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| BSCT Invesco Bulletshares 2029 CB | Add +6742.1% | 5.05% | +4.98 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 4.39% | +4.39 |
| BSCS Invesco Bulletshares 2028 CB | Add +9.5% | 5.68% | +0.60 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +151.1% | 0.67% | +0.41 |
| ORCL Oracle Corp. | New | 0.21% | +0.21 |
| BSCR Invesco Bulletshares 2027 CB | Add +2.9% | 4.40% | +0.21 |
| BSMS Invesco Bulletshares 2028 MB | New | 0.10% | +0.10 |
| AAPL Apple Inc. | Add +3.4% | 0.72% | +0.08 |
| META Meta Platforms Inc. Class A | Add +23.4% | 0.51% | +0.06 |
| AVGO Broadcom Inc. | New | 0.05% | +0.05 |
| NFLX Netflix Inc. | New | 0.04% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +8.8% | 0.33% | +0.04 |
| XLK SS Technology Select Sector | Add +56.1% | 0.06% | +0.02 |
| GOOG Alphabet Inc. Class C | Add +0.9% | 0.09% | +0.02 |
| XOM Exxon Mobil Corp. | Add +0.3% | 0.23% | +0.02 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +3.5% | 0.22% | +0.02 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +3.5% | 0.21% | +0.02 |
| NVDA Nvidia Corp. | Add +0.7% | 0.51% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Add +3.6% | 0.15% | +0.01 |
| GLD SPDR Gold Shares | Add +1.6% | 0.08% | +0.01 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +3.4% | 0.12% | +0.01 |
| QYLD Global X Nasd 100 Cov Call | Add +1.1% | 0.13% | +0.01 |
| KO The Coca-Cola Co. | Add +6.4% | 0.05% | +0.01 |
| IBM Intl Business Machines Corp. | Add +2.8% | 0.04% | +0.00 |
| BSMT Invesco Bulletshares 2029 MB | Add +1.4% | 0.10% | +0.00 |
| BSMU Invesco Bulletshares 2030 MB | Add +0.4% | 0.10% | +0.00 |
| UNH Unitedhealth Group Inc. | Add +2.1% | 0.17% | −0.00 |
| MSFT Microsoft Corp. | Add +0.1% | 0.43% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 73 | $614.9M | SPY, IWV, ACWX, SPYG, BSCQ |
| Q1 2026 | 69 | $555.2M | SPY, IWV, ACWX, SPYG, BSCQ |
| Q4 2025 | 72 | $546.3M | SPY, IWV, ACWX, BSCS, BSCQ |
| Q3 2025 | 74 | $556.4M | SPY, IWV, ACWX, SGOV, BSCQ |
| Q2 2025 | 70 | $526.4M | SPY, IWV, ACWX, SGOV, BSCQ |
| Q1 2025 | 74 | $500.2M | SPY, IWV, ACWX, BSCQ, BSCS |
| Q4 2024 | 73 | $508.3M | SPY, IWV, ACWX, BSCQ, BSCS |
| Q3 2024 | 73 | $493.1M | SPY, IWV, ACWX, VTI, BSCQ |
| Q2 2024 | 69 | $453.0M | SPY, IWV, ACWX, VTI, BSCQ |
| Q1 2024 | 72 | $450.7M | SPY, IWV, ACWX, VTI, BSCQ |