Tolleson Wealth Management, Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Tolleson Wealth Management, Inc. reported 81 stock positions worth $511.0 million. Its top holding was SS SPDR MSCI U Stratfact ETF (QUS) at 21.7% of the portfolio, followed by iShares US Equity Factor ETF (LRGF, 21.7%) and iShares International Equity (INTF, 14.6%). Compared with Q4 2023, it opened 3 new positions, sold out of 5, added to 12 and reduced 34. The biggest buy was iShares US Equity Factor ETF (LRGF, shares +10%) and the biggest sale First Trust Smith Unconstrai (UCON, shares −59%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001772937
Portfolio Value
$511.0M (Q1 2024)
SEC Filing
0001772937-24-000002 ↗ filed May 15, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $511.0M $511.0M Q1 2024 Q2 2024: $507.0M Q2 2024 Q3 2024: $524.8M Q3 2024 Q4 2024: $487.7M Q4 2024 Q1 2025: $518.6M Q1 2025 Q2 2025: $585.1M Q2 2025 Q3 2025: $646.4M Q3 2025 Q4 2025: $692.6M Q4 2025 Q1 2026: $685.0M Q1 2026 Q2 2026: $741.9M Q2 2026

Holdings 81 stocks · $511.0M
QUS SS SPDR MSCI U Stratfact ETF 21.69% 761,222 $110.9M Reduce -3.0%
LRGF iShares US Equity Factor ETF 21.68% 2,058,764 $110.8M Add +9.7%
INTF iShares International Equity 14.57% 2,495,898 $74.5M Add +2.4%
ITOT iShares Core S&P Total U.S. 7.83% 347,217 $40.0M Add +8.7%
VEU Vanguard Ftse All-World Ex-U 4.11% 358,242 $21.0M Add +11.4%
SPY SS SPDR S&P 500 ETF Trust-US 3.13% 30,561 $16.0M Reduce -1.1%
UCON First Trust Smith Unconstrai 2.66% 552,026 $13.6M Reduce -59.3%
IQLT iShares MSCI International Q 2.59% 333,898 $13.2M Reduce -1.0%
EFA iShares MSCI Eafe ETF 1.58% 100,975 $8.1M Reduce -1.1%
USHY iShares Broad Usd High Yield 1.48% 206,275 $7.5M Reduce -22.4%
IWR iShares Russell Mid-Cap ETF 1.22% 74,150 $6.2M Reduce -1.2%
IWF iShares Russell 1000 Growth 1.20% 18,207 $6.1M Reduce -1.7%
IWD iShares Russell 1000 Value E 0.88% 25,107 $4.5M Reduce -1.0%
IWP iShares Russell Mid-Cap Grow 0.81% 36,304 $4.1M Reduce -17.2%
VTHR Vanguard Russell 3000 0.76% 16,701 $3.9M No change
AAXJ iShares MSCI All Country Asi 0.60% 45,437 $3.1M Reduce -0.4%
IWV iShares Russell 3000 ETF 0.60% 10,140 $3.0M No change
NULC Nuveen ESG Large-Cap ETF 0.52% 61,688 $2.7M Add +44.5%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.52% 34,113 $2.7M Add +100.7%
MA Mastercard Inc. Class A 0.51% 5,406 $2.6M Reduce -9.4%
IVE iShares S&P 500 Value ETF 0.50% 13,742 $2.6M No change
IVV iShares Core S&P 500 ETF 0.48% 4,656 $2.4M No change
IVW iShares S&P 500 Growth ETF 0.47% 28,651 $2.4M No change
MSFT Microsoft Corp. 0.44% 5,288 $2.2M Reduce -3.5%
USMV iShares MSCI USA Min Vol Fac 0.41% 25,242 $2.1M Reduce -7.5%
XSMO Invesco S&P Smallcap Momentu 0.35% 29,468 $1.8M No change
XSVM Invesco S&P Smallcap Value W 0.33% 30,000 $1.7M No change
MUB iShares National Muni Bond E 0.33% 15,707 $1.7M No change
SCHB Schwab US Broad Market ETF 0.33% 27,615 $1.7M No change
VGK Vanguard Ftse Europe ETF 0.33% 24,871 $1.7M Reduce -0.7%
V Visa Inc. Class A 0.32% 5,879 $1.6M Reduce -15.5%
USIG iShares Broad Usd Investment 0.31% 31,510 $1.6M Reduce -49.3%
AGG iShares Core U.S. Aggregate 0.30% 15,410 $1.5M Add +8.4%
UNH Unitedhealth Group Inc. 0.29% 2,967 $1.5M Reduce -2.4%
IEMG iShares Core MSCI Emerging 0.27% 26,257 $1.4M Reduce -0.3%
AAPL Apple Inc. 0.26% 7,707 $1.3M Reduce -29.5%
VOO Vanguard S&P 500 ETF 0.25% 2,707 $1.3M Reduce -2.5%
GLD SPDR Gold Shares 0.25% 6,127 $1.3M No change
VXUS Vanguard Total Intl Stock 0.22% 18,963 $1.1M Reduce -2.9%
ADBE Adobe Inc. 0.22% 2,261 $1.1M Reduce -1.9%
GS Goldman Sachs Group Inc. 0.22% 2,683 $1.1M No change
NUEM Nuveen ESG Emerging Markets 0.19% 35,892 $987K No change
AIV Apartment Invt & Mgmt Co. Class A 0.19% 119,369 $978K Add +33.8%
VGSH Vanguard Short-Term Treasury 0.18% 16,164 $939K No change
OWNS CCM Affordable Hous MBS ETF 0.17% 51,512 $879K Add +49.3%
VPL Vanguard Ftse Pacific ETF 0.17% 11,198 $851K Reduce -45.8%
USAC USA Compression Partners LP 0.16% 30,837 $822K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.16% 11,434 $810K Reduce -16.3%
CAT Caterpillar Inc. 0.16% 2,206 $808K Reduce -8.1%
DHI D.R. Horton Inc. 0.16% 4,907 $807K Add +0.1%
GNR State Street SPDR S&P Global 0.14% 12,566 $728K No change
VMBS Vanguard Mortgage-Backed Sec 0.14% 15,915 $726K New
SDG Ish MSCI Glob Sust Deve Goal 0.14% 8,980 $707K No change
NUDM Nuveen ESG Intl Devel MRK Eq 0.13% 21,979 $683K Add +63.1%
EUSA iShares MSCI USA Equal Weigh 0.13% 7,430 $676K New
EEMA iShares MSCI Emerg MRKT Asia 0.13% 9,519 $648K Reduce -56.4%
SYY Sysco Corp. 0.13% 7,908 $642K No change
INTU Intuit Inc. 0.12% 969 $630K No change
HD Home Depot Inc. 0.11% 1,453 $557K New
ADP Automatic Data Processing 0.11% 2,205 $554K No change
ICF iShares Select U.S. REIT ETF 0.10% 9,216 $532K Reduce -2.0%
XLK SS Technology Select Sector 0.10% 2,356 $491K No change
IWB iShares Russell 1000 ETF 0.10% 1,690 $487K No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.09% 3,047 $470K No change
NTAP Netapp Inc. 0.09% 4,282 $449K No change
VB Vanguard Most SM-Cap ETF-Usd 0.08% 1,761 $403K No change
BHK BlackRock Core Bond Trust 0.07% 32,940 $356K No change
BKT BlackRock Income Trust 0.07% 29,756 $354K No change
MIN Aberdeen Intermediate Inc. FD 0.07% 130,836 $348K No change
KRO Kronos Worldwide Inc. 0.06% 27,695 $327K No change
SBUX Starbucks Corp. 0.06% 3,228 $295K Reduce -0.9%
QUAL iShares MSCI USA Quality Fac 0.05% 1,648 $271K No change
SPAB SS SPDR P Agg Bond ETF 0.05% 10,180 $257K Reduce -37.6%
ABT Abbott Laboratories 0.05% 2,231 $254K Add +2.3%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.05% 1,004 $251K Reduce -8.0%
EEMV iShares MSCI Emg MKT Min Vol 0.05% 4,410 $250K Reduce -20.5%
VUG Vanguard Mrngstar GR ETF-Sui 0.05% 705 $243K No change
EMR Emerson Electric Co. 0.04% 2,021 $229K Reduce -1.5%
AMG Affiliated Managers Group 0.04% 1,319 $221K No change
BA The Boeing Co. 0.04% 1,088 $210K Reduce -7.4%
XT Ishar Fture Exp Tech ETF-Usd 0.04% 3,511 $209K No change

Portfolio Sells Q4 2023 → Q1 2024
UCON First Trust Smith Unconstrai Reduce -59.3% 2.66% −4.26
USHY iShares Broad Usd High Yield Reduce -22.4% 1.48% −0.52
USIG iShares Broad Usd Investment Reduce -49.3% 0.31% −0.34
AAPL Apple Inc. Reduce -29.5% 0.26% −0.18
EEMA iShares MSCI Emerg MRKT Asia Reduce -56.4% 0.13% −0.17
VPL Vanguard Ftse Pacific ETF Reduce -45.8% 0.17% −0.14
AMZN Amazon.com Inc. Sold out 0.00% −0.13
IWP iShares Russell Mid-Cap Grow Reduce -17.2% 0.81% −0.13
BRK.B Berkshire Hathaway Inc. Class B Sold out 0.00% −0.11
ADBE Adobe Inc. Reduce -1.9% 0.22% −0.06
V Visa Inc. Class A Reduce -15.5% 0.32% −0.05
UNH Unitedhealth Group Inc. Reduce -2.4% 0.29% −0.04
INTC Intel Corp. Sold out 0.00% −0.04
EFAV iShares MSCI Eafe Min Vol Fa Reduce -16.3% 0.16% −0.04
SPAB SS SPDR P Agg Bond ETF Reduce -37.6% 0.05% −0.04
USMV iShares MSCI USA Min Vol Fac Reduce -7.5% 0.41% −0.03
AAXJ iShares MSCI All Country Asi Reduce -0.4% 0.60% −0.02
BA The Boeing Co. Reduce -7.4% 0.04% −0.02
IQLT iShares MSCI International Q Reduce -1.0% 2.59% −0.02
MA Mastercard Inc. Class A Reduce -9.4% 0.51% −0.02
EEMV iShares MSCI Emg MKT Min Vol Reduce -20.5% 0.05% −0.01
ICF iShares Select U.S. REIT ETF Reduce -2.0% 0.10% −0.01
VXUS Vanguard Total Intl Stock Reduce -2.9% 0.22% −0.01
IEMG iShares Core MSCI Emerging Reduce -0.3% 0.27% −0.01
EFA iShares MSCI Eafe ETF Reduce -1.1% 1.58% −0.01
SBUX Starbucks Corp. Reduce -0.9% 0.06% −0.01
VGK Vanguard Ftse Europe ETF Reduce -0.7% 0.33% −0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -8.0% 0.05% −0.00
QUBT Quantum Computing Inc. Sold out 0.00% −0.00
VGZ Vista Gold Corp. Sold out 0.00% −0.00
EMR Emerson Electric Co. Reduce -1.5% 0.04% +0.00
VOO Vanguard S&P 500 ETF Reduce -2.5% 0.25% +0.00
MSFT Microsoft Corp. Reduce -3.5% 0.44% +0.01
CAT Caterpillar Inc. Reduce -8.1% 0.16% +0.01
IWD iShares Russell 1000 Value E Reduce -1.0% 0.88% +0.02
IWR iShares Russell Mid-Cap ETF Reduce -1.2% 1.22% +0.02
IWF iShares Russell 1000 Growth Reduce -1.7% 1.20% +0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.1% 3.13% +0.09
QUS SS SPDR MSCI U Stratfact ETF Reduce -3.0% 21.69% +0.32

Portfolio Buys Q4 2023 → Q1 2024
LRGF iShares US Equity Factor ETF Add +9.7% 21.68% +3.00
ITOT iShares Core S&P Total U.S. Add +8.7% 7.83% +0.91
INTF iShares International Equity Add +2.4% 14.57% +0.50
VEU Vanguard Ftse All-World Ex-U Add +11.4% 4.11% +0.39
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +100.7% 0.52% +0.25
NULC Nuveen ESG Large-Cap ETF Add +44.5% 0.52% +0.18
VMBS Vanguard Mortgage-Backed Sec New 0.14% +0.14
EUSA iShares MSCI USA Equal Weigh New 0.13% +0.13
HD Home Depot Inc. New 0.11% +0.11
NUDM Nuveen ESG Intl Devel MRK Eq Add +63.1% 0.13% +0.05
OWNS CCM Affordable Hous MBS ETF Add +49.3% 0.17% +0.05
AIV Apartment Invt & Mgmt Co. Class A Add +33.8% 0.19% +0.05
AGG iShares Core U.S. Aggregate Add +8.4% 0.30% +0.00
DHI D.R. Horton Inc. Add +0.1% 0.16% +0.00
ABT Abbott Laboratories Add +2.3% 0.05% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 96$741.9MLRGF, INTF, QUS, ITOT, VONG
Q1 2026 92$685.0MLRGF, INTF, QUS, ITOT, VONG
Q4 2025 92$692.6MLRGF, INTF, QUS, ITOT, SGOV
Q3 2025 89$646.4MLRGF, INTF, QUS, ITOT, VONG
Q2 2025Amended 84$585.1MLRGF, INTF, QUS, ITOT, VONG
Q1 2025Amended 86$518.6MLRGF, QUS, INTF, ITOT, HIMU
Q4 2024 103$487.7MLRGF, QUS, INTF, ITOT, SPY
Q3 2024 82$524.8MLRGF, QUS, INTF, SPY, ITOT
Q2 2024 81$507.0MLRGF, QUS, INTF, ITOT, VEU
Q1 2024 81$511.0MQUS, LRGF, INTF, ITOT, VEU