Tolleson Wealth Management, Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Tolleson Wealth Management, Inc. reported 103 stock positions worth $487.7 million. Its top holding was iShares US Equity Factor ETF (LRGF) at 22.7% of the portfolio, followed by SS SPDR MSCI U Stratfact ETF (QUS, 19.3%) and iShares International Equity (INTF, 14.9%). Compared with Q3 2024, it opened 25 new positions, sold out of 4, added to 20 and reduced 22. The biggest buy was TCW Transform 500 ETF (VOTE, shares +453%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −61%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001772937
Portfolio Value
$487.7M (Q4 2024)
SEC Filing
0001772937-25-000004 ↗ filed Feb 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $511.0M Q1 2024 Q2 2024: $507.0M Q2 2024 Q3 2024: $524.8M Q3 2024 Q4 2024: $487.7M $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 103 stocks · $487.7M
LRGF iShares US Equity Factor ETF 22.74% 1,837,506 $110.9M Reduce -5.9%
QUS SS SPDR MSCI U Stratfact ETF 19.31% 608,105 $94.2M Reduce -10.3%
INTF iShares International Equity 14.86% 2,523,641 $72.5M Add +1.1%
ITOT iShares Core S&P Total U.S. 7.33% 277,917 $35.7M Reduce -3.2%
SPY SS SPDR S&P 500 ETF Trust-US 3.55% 29,479 $17.3M Reduce -61.4%
VEU Vanguard Ftse All-World Ex-U 3.55% 301,496 $17.3M Add +0.4%
IQLT iShares MSCI International Q 2.24% 294,318 $10.9M Reduce -3.3%
EFA iShares MSCI Eafe ETF 1.73% 111,344 $8.4M Add +12.0%
UCON First Trust Smith Unconstrai 1.58% 313,088 $7.7M Reduce -8.6%
IWF iShares Russell 1000 Growth 1.44% 17,527 $7.0M Reduce -0.8%
IWR iShares Russell Mid-Cap ETF 1.33% 73,356 $6.5M Reduce -0.4%
USHY iShares Broad Usd High Yield 1.29% 171,659 $6.3M Add +1.8%
VOTE TCW Transform 500 ETF 0.94% 66,350 $4.6M Add +452.9%
IWD iShares Russell 1000 Value E 0.93% 24,441 $4.5M Reduce -0.5%
VTHR Vanguard Russell 3000 0.89% 16,701 $4.3M No change
IWP iShares Russell Mid-Cap Grow 0.74% 28,435 $3.6M Reduce -7.9%
AAXJ iShares MSCI All Country Asi 0.65% 44,099 $3.2M Reduce -0.3%
MSFT Microsoft Corp. 0.64% 7,350 $3.1M Add +33.5%
IWV iShares Russell 3000 ETF 0.62% 9,066 $3.0M No change
AAPL Apple Inc. 0.59% 11,566 $2.9M Add +41.4%
NULC Nuveen ESG Large-Cap ETF 0.59% 63,418 $2.9M No change
MA Mastercard Inc. Class A 0.58% 5,388 $2.8M Reduce -0.6%
IVV iShares Core S&P 500 ETF 0.56% 4,656 $2.7M No change
VEA Vanguard Ftse Developed ETF 0.43% 44,361 $2.1M New
XSMO Invesco S&P Smallcap Momentu 0.40% 29,468 $1.9M No change
SCHB Schwab US Broad Market ETF 0.36% 78,212 $1.8M No change
UNH Unitedhealth Group Inc. 0.35% 3,354 $1.7M Add +12.2%
XSVM Invesco S&P Smallcap Value W 0.34% 30,000 $1.6M No change
VGK Vanguard Ftse Europe ETF 0.32% 24,301 $1.5M Reduce -0.5%
GS Goldman Sachs Group Inc. 0.32% 2,683 $1.5M No change
SHYM iShares Short Duration High 0.31% 67,570 $1.5M New
AMZN Amazon.com Inc. 0.29% 6,396 $1.4M Add +51.9%
USIG iShares Broad Usd Investment 0.29% 27,898 $1.4M Add +3.7%
VOO Vanguard S&P 500 ETF 0.27% 2,407 $1.3M No change
GLD SPDR Gold Shares 0.26% 5,297 $1.3M Reduce -13.6%
IJR iShares Core S&P Small-Cap E 0.26% 11,006 $1.3M New
OWNS CCM Affordable Hous MBS ETF 0.24% 69,789 $1.2M Add +35.5%
USMV iShares MSCI USA Min Vol Fac 0.24% 13,175 $1.2M Reduce -40.3%
ADBE Adobe Inc. 0.24% 2,603 $1.2M Add +13.9%
V Visa Inc. Class A 0.24% 3,639 $1.1M Add +25.8%
IBIT iShares Bitcoin Trust ETF 0.23% 21,575 $1.1M New
AIV Apartment Invt & Mgmt Co. Class A 0.22% 119,369 $1.1M No change
NUEM Nuveen ESG Emerging Markets 0.21% 36,069 $1.0M Add +0.5%
VXUS Vanguard Total Intl Stock 0.21% 17,255 $1.0M Reduce -6.0%
AGG iShares Core U.S. Aggregate 0.20% 10,038 $973K Add +0.1%
NVDA Nvidia Corp. 0.20% 7,200 $967K New
VGSH Vanguard Short-Term Treasury 0.19% 16,164 $940K No change
IEMG iShares Core MSCI Emerging 0.18% 17,038 $890K Reduce -35.9%
EFAV iShares MSCI Eafe Min Vol Fa 0.17% 11,394 $806K No change
SYY Sysco Corp. 0.15% 9,623 $736K Add +21.7%
USAC USA Compression Partners LP 0.15% 30,837 $727K No change
EUSA iShares MSCI USA Equal Weigh 0.15% 7,430 $709K No change
DHI D.R. Horton Inc. 0.14% 4,901 $685K No change
NUDM Nuveen ESG Intl Devel MRK Eq 0.14% 21,979 $661K No change
VXF Vanguard Extended Market ETF 0.13% 3,420 $650K New
ADP Automatic Data Processing 0.13% 2,205 $649K No change
SDG Ish MSCI Glob Sust Deve Goal 0.13% 8,980 $643K No change
GNR State Street SPDR S&P Global 0.13% 12,566 $625K No change
INTU Intuit Inc. 0.13% 975 $613K Add +0.6%
ICF iShares Select U.S. REIT ETF 0.11% 9,077 $547K Reduce -1.2%
IWB iShares Russell 1000 ETF 0.11% 1,690 $544K No change
NTAP Netapp Inc. 0.10% 4,282 $497K Reduce -1.8%
SBUX Starbucks Corp. 0.10% 5,290 $483K Add +63.7%
XLK SS Technology Select Sector 0.10% 2,056 $478K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.09% 5,875 $462K Add +6.0%
GOOG Alphabet Inc. Class C 0.09% 2,415 $460K New
META Meta Platforms Inc. Class A 0.09% 778 $456K New
ORCL Oracle Corp. 0.09% 2,705 $451K New
VB Vanguard Most SM-Cap ETF-Usd 0.09% 1,761 $423K No change
ABT Abbott Laboratories 0.08% 3,430 $388K Add +51.4%
VPL Vanguard Ftse Pacific ETF 0.08% 5,413 $385K Reduce -4.5%
MIN Aberdeen Intermediate Inc. FD 0.07% 129,626 $345K No change
QCOM Qualcomm Inc. 0.07% 2,194 $337K New
EEMA iShares MSCI Emerg MRKT Asia 0.07% 4,613 $331K Reduce -4.3%
BKT BlackRock Income Trust 0.07% 28,485 $328K No change
VTEC Vanguard Ca Tax-Ex Bond 0.07% 3,300 $328K No change
CSCO Cisco Systems Inc. 0.07% 5,519 $327K New
XLP SS Consumer Staples Sel Sect 0.07% 4,053 $319K New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.07% 4,213 $319K New
JPM JPMorgan Chase & Co. 0.07% 1,325 $318K New
XLV SS Health Care Select Sector 0.07% 2,311 $318K New
BHK BlackRock Core Bond Trust 0.06% 29,548 $309K No change
TSLA Tesla Inc. 0.06% 738 $298K New
ADI Analog Devices Inc. 0.06% 1,398 $297K New
WMT Walmart Inc. 0.06% 3,263 $295K New
VUG Vanguard Mrngstar GR ETF-Sui 0.06% 705 $289K No change
QUAL iShares MSCI USA Quality Fac 0.06% 1,607 $286K No change
KRO Kronos Worldwide Inc. 0.06% 29,245 $285K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.05% 1,004 $265K No change
CBRE CBRE Group Inc. Class A 0.05% 2,000 $263K No change
BLK BlackRock Inc. 0.05% 255 $261K New
AMG Affiliated Managers Group 0.05% 1,393 $258K Reduce -3.1%
EEMV iShares MSCI Emg MKT Min Vol 0.05% 4,410 $256K No change
SPAB SS SPDR P Agg Bond ETF 0.05% 10,180 $254K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.05% 3,289 $253K New
JNJ Johnson & Johnson 0.05% 1,677 $243K New
ALL Allstate Corp. 0.05% 1,206 $234K New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.05% 3,047 $228K No change
CAT Caterpillar Inc. 0.04% 600 $218K No change
HD Home Depot Inc. 0.04% 555 $216K New

Show all 103 holdings

Portfolio Sells Q3 2024 → Q4 2024
SPY SS SPDR S&P 500 ETF Trust-US Reduce -61.4% 3.55% −4.83
QUS SS SPDR MSCI U Stratfact ETF Reduce -10.3% 19.31% −1.05
IQLT iShares MSCI International Q Reduce -3.3% 2.24% −0.17
USMV iShares MSCI USA Min Vol Fac Reduce -40.3% 0.24% −0.14
VMBS Vanguard Mortgage-Backed Sec Sold out 0.00% −0.14
IEMG iShares Core MSCI Emerging Reduce -35.9% 0.18% −0.11
UCON First Trust Smith Unconstrai Reduce -8.6% 1.58% −0.06
EMR Emerson Electric Co. Sold out 0.00% −0.04
BRK.B Berkshire Hathaway Inc. Class B Sold out 0.00% −0.04
BBY Best Buy Co. Inc. Sold out 0.00% −0.04
GLD SPDR Gold Shares Reduce -13.6% 0.26% −0.02
VXUS Vanguard Total Intl Stock Reduce -6.0% 0.21% −0.02
VGK Vanguard Ftse Europe ETF Reduce -0.5% 0.32% −0.01
AAXJ iShares MSCI All Country Asi Reduce -0.3% 0.65% −0.01
VPL Vanguard Ftse Pacific ETF Reduce -4.5% 0.08% −0.01
EEMA iShares MSCI Emerg MRKT Asia Reduce -4.3% 0.07% −0.00
ICF iShares Select U.S. REIT ETF Reduce -1.2% 0.11% −0.00
NTAP Netapp Inc. Reduce -1.8% 0.10% −0.00
AMG Affiliated Managers Group Reduce -3.1% 0.05% +0.00
IWD iShares Russell 1000 Value E Reduce -0.5% 0.93% +0.04
IWP iShares Russell Mid-Cap Grow Reduce -7.9% 0.74% +0.05
MA Mastercard Inc. Class A Reduce -0.6% 0.58% +0.07
IWR iShares Russell Mid-Cap ETF Reduce -0.4% 1.33% +0.09
IWF iShares Russell 1000 Growth Reduce -0.8% 1.44% +0.18
ITOT iShares Core S&P Total U.S. Reduce -3.2% 7.33% +0.46
LRGF iShares US Equity Factor ETF Reduce -5.9% 22.74% +0.87

Portfolio Buys Q3 2024 → Q4 2024
VOTE TCW Transform 500 ETF Add +452.9% 0.94% +0.78
VEA Vanguard Ftse Developed ETF New 0.43% +0.43
SHYM iShares Short Duration High New 0.31% +0.31
IJR iShares Core S&P Small-Cap E New 0.26% +0.26
IBIT iShares Bitcoin Trust ETF New 0.23% +0.23
AAPL Apple Inc. Add +41.4% 0.59% +0.23
NVDA Nvidia Corp. New 0.20% +0.20
MSFT Microsoft Corp. Add +33.5% 0.64% +0.18
EFA iShares MSCI Eafe ETF Add +12.0% 1.73% +0.14
AMZN Amazon.com Inc. Add +51.9% 0.29% +0.14
VXF Vanguard Extended Market ETF New 0.13% +0.13
GOOG Alphabet Inc. Class C New 0.09% +0.09
META Meta Platforms Inc. Class A New 0.09% +0.09
ORCL Oracle Corp. New 0.09% +0.09
USHY iShares Broad Usd High Yield Add +1.8% 1.29% +0.09
V Visa Inc. Class A Add +25.8% 0.24% +0.08
OWNS CCM Affordable Hous MBS ETF Add +35.5% 0.24% +0.07
QCOM Qualcomm Inc. New 0.07% +0.07
CSCO Cisco Systems Inc. New 0.07% +0.07
XLP SS Consumer Staples Sel Sect New 0.07% +0.07
XLU St Sr Utl SL SE SPDR ETF-Usd New 0.07% +0.07
JPM JPMorgan Chase & Co. New 0.07% +0.07
XLV SS Health Care Select Sector New 0.07% +0.07
TSLA Tesla Inc. New 0.06% +0.06
ADI Analog Devices Inc. New 0.06% +0.06
WMT Walmart Inc. New 0.06% +0.06
BLK BlackRock Inc. New 0.05% +0.05
BNY Bank of New York Mellon Corp. New 0.05% +0.05
JNJ Johnson & Johnson New 0.05% +0.05
ALL Allstate Corp. New 0.05% +0.05
HD Home Depot Inc. New 0.04% +0.04
PG The Procter & Gamble Co. New 0.04% +0.04
ICE Intercontinental Exchange Inc. New 0.04% +0.04
SBUX Starbucks Corp. Add +63.7% 0.10% +0.04
SYY Sysco Corp. Add +21.7% 0.15% +0.03
ABT Abbott Laboratories Add +51.4% 0.08% +0.03
USIG iShares Broad Usd Investment Add +3.7% 0.29% +0.02
UNH Unitedhealth Group Inc. Add +12.2% 0.35% +0.01
ADBE Adobe Inc. Add +13.9% 0.24% +0.01
INTU Intuit Inc. Add +0.6% 0.13% +0.01
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +6.0% 0.09% +0.01
AGG iShares Core U.S. Aggregate Add +0.1% 0.20% +0.01
NUEM Nuveen ESG Emerging Markets Add +0.5% 0.21% +0.00
VEU Vanguard Ftse All-World Ex-U Add +0.4% 3.55% −0.06
INTF iShares International Equity Add +1.1% 14.86% −0.09

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