Tolleson Wealth Management, Inc.

Name: Tolleson Wealth Management, Inc. 13F holdings, Q1 2025
Creator: Tolleson Wealth Management, Inc.
Published: 2025-08-28

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed August 28, 2025), Tolleson Wealth Management, Inc. reported 86 stock positions worth $518.6 million. Its top holding was iShares US Equity Factor ETF (LRGF) at 21.0% of the portfolio, followed by SS SPDR MSCI U Stratfact ETF (QUS, 17.7%) and iShares International Equity (INTF, 16.2%). Compared with Q4 2024, it opened 4 new positions, sold out of 21, added to 13 and reduced 32. The biggest buy was a new position in iShares High Yild Muni A ETF (HIMU) and the biggest sale SS SPDR MSCI U Stratfact ETF (QUS, shares −4%).

Most Recent 13F: Q2 2026
Location: DALLAS, TX
CIK: 0001772937
Portfolio Value: $518.6M (Q1 2025)
SEC Filing: 0001772937-25-000013 ↗ filed Aug 28, 2025

Holdings Value

Holdings 86 stocks · $518.6M


LRGF iShares US Equity Factor ETF	21.03%	1,884,073	$109.1M	Add +2.5%
QUS SS SPDR MSCI U Stratfact ETF	17.66%	584,558	$91.6M	Reduce -3.9%
INTF iShares International Equity	16.25%	2,732,428	$84.3M	Add +8.3%
ITOT iShares Core S&P Total U.S.	6.54%	278,004	$33.9M	Add +0.0%
HIMU iShares High Yild Muni A ETF	3.94%	412,393	$20.4M	New
VONG Vanguard Russell 1000 Growth	3.82%	213,600	$19.8M	New
VEU Vanguard Ftse All-World Ex-U	3.49%	298,150	$18.1M	Reduce -1.1%
SPY SS SPDR S&P 500 ETF Trust-US	3.12%	28,839	$16.2M	Reduce -2.2%
IQLT iShares MSCI International Q	2.16%	282,340	$11.2M	Reduce -4.1%
EFA iShares MSCI Eafe ETF	1.55%	98,475	$8.0M	Reduce -11.6%
UCON First Trust Smith Unconstrai	1.36%	284,223	$7.0M	Reduce -9.2%
USHY iShares Broad Usd High Yield	1.23%	173,435	$6.4M	Add +1.0%
IWF iShares Russell 1000 Growth	1.18%	16,917	$6.1M	Reduce -3.5%
IWR iShares Russell Mid-Cap ETF	1.16%	70,479	$6.0M	Reduce -3.9%
IWD iShares Russell 1000 Value E	0.86%	23,591	$4.4M	Reduce -3.5%
VOTE TCW Transform 500 ETF	0.84%	66,650	$4.4M	Add +0.5%
VTHR Vanguard Russell 3000	0.79%	16,701	$4.1M	No change
AAXJ iShares MSCI All Country Asi	0.63%	43,896	$3.2M	Reduce -0.5%
NULC Nuveen ESG Large-Cap ETF	0.63%	74,068	$3.2M	Add +16.8%
IWP iShares Russell Mid-Cap Grow	0.61%	26,836	$3.2M	Reduce -5.6%
MA Mastercard Inc. Class A	0.57%	5,388	$3.0M	No change
IWV iShares Russell 3000 ETF	0.56%	9,066	$2.9M	No change
IVV iShares Core S&P 500 ETF	0.53%	4,923	$2.8M	Add +5.7%
VEA Vanguard Ftse Developed ETF	0.43%	44,361	$2.3M	No change
MSFT Microsoft Corp.	0.38%	5,218	$2.0M	Reduce -29.0%
XSMO Invesco S&P Smallcap Momentu	0.36%	29,468	$1.8M	No change
AAPL Apple Inc.	0.33%	7,670	$1.7M	Reduce -33.7%
VGK Vanguard Ftse Europe ETF	0.33%	24,212	$1.7M	Reduce -0.4%
SCHB Schwab US Broad Market ETF	0.32%	78,212	$1.7M	No change
UNH Unitedhealth Group Inc.	0.30%	2,942	$1.5M	Reduce -12.3%
SHYM iShares Short Duration High	0.30%	67,570	$1.5M	No change
XSVM Invesco S&P Smallcap Value W	0.29%	30,000	$1.5M	No change
GS Goldman Sachs Group Inc.	0.28%	2,683	$1.5M	No change
GLD SPDR Gold Shares	0.28%	4,956	$1.4M	Reduce -6.4%
USIG iShares Broad Usd Investment	0.27%	27,898	$1.4M	No change
VOO Vanguard S&P 500 ETF	0.24%	2,407	$1.2M	No change
NVDA Nvidia Corp.	0.24%	11,300	$1.2M	Add +56.9%
OWNS CCM Affordable Hous MBS ETF	0.24%	70,676	$1.2M	Add +1.3%
BTCO Invsco GLXY BTCN ETF	0.22%	14,000	$1.2M	New
VXUS Vanguard Total Intl Stock	0.20%	16,806	$1.0M	Reduce -2.6%
NUEM Nuveen ESG Emerging Markets	0.20%	35,039	$1.0M	Reduce -2.9%
IEMG iShares Core MSCI Emerging	0.19%	18,546	$1.0M	Add +8.8%
V Visa Inc. Class A	0.19%	2,809	$984K	Reduce -22.8%
AGG iShares Core U.S. Aggregate	0.18%	9,649	$954K	Reduce -3.9%
VGSH Vanguard Short-Term Treasury	0.18%	16,164	$949K	No change
USMV iShares MSCI USA Min Vol Fac	0.18%	10,025	$939K	Reduce -23.9%
ADBE Adobe Inc.	0.17%	2,259	$866K	Reduce -13.2%
USAC USA Compression Partners LP	0.16%	30,837	$832K	No change
AMZN Amazon.com Inc.	0.15%	3,960	$753K	Reduce -38.1%
EUSA iShares MSCI USA Equal Weigh	0.14%	7,978	$747K	Add +7.4%
NUDM Nuveen ESG Intl Devel MRK Eq	0.14%	21,979	$700K	No change
ADP Automatic Data Processing	0.13%	2,205	$677K	No change
GNR State Street SPDR S&P Global	0.13%	12,566	$669K	No change
EFAV iShares MSCI Eafe Min Vol Fa	0.13%	8,545	$666K	Reduce -25.0%
SDG Ish MSCI Glob Sust Deve Goal	0.13%	8,980	$650K	No change
DHI D.R. Horton Inc.	0.12%	4,901	$623K	No change
INTU Intuit Inc.	0.11%	969	$595K	Reduce -0.6%
SYY Sysco Corp.	0.11%	7,908	$593K	Reduce -17.8%
ICF iShares Select U.S. REIT ETF	0.11%	9,077	$559K	No change
IWB iShares Russell 1000 ETF	0.10%	1,690	$518K	No change
QUAL iShares MSCI USA Quality Fac	0.10%	2,957	$505K	Add +84.0%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	0.10%	6,272	$495K	Add +6.8%
XLK SS Technology Select Sector	0.08%	2,056	$425K	No change
VB Vanguard Most SM-Cap ETF-Usd	0.08%	1,761	$391K	No change
NTAP Netapp Inc.	0.07%	4,282	$376K	No change
VPL Vanguard Ftse Pacific ETF	0.07%	5,004	$363K	Reduce -7.6%
MIN Aberdeen Intermediate Inc. FD	0.07%	129,626	$349K	No change
BKT BlackRock Income Trust	0.07%	28,485	$338K	No change
XLV SS Health Care Select Sector	0.07%	2,311	$337K	No change
XLU St Sr Utl SL SE SPDR ETF-Usd	0.06%	4,213	$332K	No change
XLP SS Consumer Staples Sel Sect	0.06%	4,053	$331K	No change
VTEC Vanguard Ca Tax-Ex Bond	0.06%	3,300	$325K	No change
BHK BlackRock Core Bond Trust	0.06%	29,548	$321K	No change
SBUX Starbucks Corp.	0.06%	3,201	$314K	Reduce -39.5%
EEMA iShares MSCI Emerg MRKT Asia	0.06%	3,872	$287K	Reduce -16.1%
ABT Abbott Laboratories	0.06%	2,159	$286K	Reduce -37.1%
CBRE CBRE Group Inc. Class A	0.05%	2,000	$262K	No change
VUG Vanguard Mrngstar GR ETF-Sui	0.05%	705	$261K	No change
SPAB SS SPDR P Agg Bond ETF	0.05%	10,180	$260K	No change
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.05%	1,004	$260K	No change
EEMV iShares MSCI Emg MKT Min Vol	0.04%	3,888	$227K	Reduce -11.8%
AMG Affiliated Managers Group	0.04%	1,319	$222K	Reduce -5.3%
KRO Kronos Worldwide Inc.	0.04%	29,245	$219K	No change
BRK.B Berkshire Hathaway Inc. Class B	0.04%	403	$215K	New
XT Ishar Fture Exp Tech ETF-Usd	0.04%	3,511	$202K	No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC	0.04%	3,047	$201K	No change

Portfolio Sells Q4 2024 → Q1 2025


QUS SS SPDR MSCI U Stratfact ETF	Reduce -3.9%	17.66%	−1.65
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -2.2%	3.12%	−0.43
IWF iShares Russell 1000 Growth	Reduce -3.5%	1.18%	−0.27
AAPL Apple Inc.	Reduce -33.7%	0.33%	−0.27
IJR iShares Core S&P Small-Cap E	Sold out	0.00%	−0.26
MSFT Microsoft Corp.	Reduce -29.0%	0.38%	−0.26
IBIT iShares Bitcoin Trust ETF	Sold out	0.00%	−0.23
UCON First Trust Smith Unconstrai	Reduce -9.2%	1.36%	−0.23
AIV Apartment Invt & Mgmt Co. Class A	Sold out	0.00%	−0.22
EFA iShares MSCI Eafe ETF	Reduce -11.6%	1.55%	−0.17
IWR iShares Russell Mid-Cap ETF	Reduce -3.9%	1.16%	−0.17
AMZN Amazon.com Inc.	Reduce -38.1%	0.15%	−0.14
VXF Vanguard Extended Market ETF	Sold out	0.00%	−0.13
IWP iShares Russell Mid-Cap Grow	Reduce -5.6%	0.61%	−0.13
GOOG Alphabet Inc. Class C	Sold out	0.00%	−0.09
META Meta Platforms Inc. Class A	Sold out	0.00%	−0.09
ORCL Oracle Corp.	Sold out	0.00%	−0.09
IQLT iShares MSCI International Q	Reduce -4.1%	2.16%	−0.08
IWD iShares Russell 1000 Value E	Reduce -3.5%	0.86%	−0.07
ADBE Adobe Inc.	Reduce -13.2%	0.17%	−0.07
QCOM Qualcomm Inc.	Sold out	0.00%	−0.07
CSCO Cisco Systems Inc.	Sold out	0.00%	−0.07
JPM JPMorgan Chase & Co.	Sold out	0.00%	−0.07
VEU Vanguard Ftse All-World Ex-U	Reduce -1.1%	3.49%	−0.06
TSLA Tesla Inc.	Sold out	0.00%	−0.06
ADI Analog Devices Inc.	Sold out	0.00%	−0.06
WMT Walmart Inc.	Sold out	0.00%	−0.06
USMV iShares MSCI USA Min Vol Fac	Reduce -23.9%	0.18%	−0.06
BLK BlackRock Inc.	Sold out	0.00%	−0.05
BNY Bank of New York Mellon Corp.	Sold out	0.00%	−0.05
UNH Unitedhealth Group Inc.	Reduce -12.3%	0.30%	−0.05
JNJ Johnson & Johnson	Sold out	0.00%	−0.05
ALL Allstate Corp.	Sold out	0.00%	−0.05
V Visa Inc. Class A	Reduce -22.8%	0.19%	−0.05
CAT Caterpillar Inc.	Sold out	0.00%	−0.04
HD Home Depot Inc.	Sold out	0.00%	−0.04
PG The Procter & Gamble Co.	Sold out	0.00%	−0.04
ICE Intercontinental Exchange Inc.	Sold out	0.00%	−0.04
SBUX Starbucks Corp.	Reduce -39.5%	0.06%	−0.04
EFAV iShares MSCI Eafe Min Vol Fa	Reduce -25.0%	0.13%	−0.04
SYY Sysco Corp.	Reduce -17.8%	0.11%	−0.04
AAXJ iShares MSCI All Country Asi	Reduce -0.5%	0.63%	−0.03
ABT Abbott Laboratories	Reduce -37.1%	0.06%	−0.02
NUEM Nuveen ESG Emerging Markets	Reduce -2.9%	0.20%	−0.02
AGG iShares Core U.S. Aggregate	Reduce -3.9%	0.18%	−0.02
EEMA iShares MSCI Emerg MRKT Asia	Reduce -16.1%	0.06%	−0.01
INTU Intuit Inc.	Reduce -0.6%	0.11%	−0.01
AMG Affiliated Managers Group	Reduce -5.3%	0.04%	−0.01
VPL Vanguard Ftse Pacific ETF	Reduce -7.6%	0.07%	−0.01
EEMV iShares MSCI Emg MKT Min Vol	Reduce -11.8%	0.04%	−0.01

Portfolio Buys Q4 2024 → Q1 2025


HIMU iShares High Yild Muni A ETF	New	3.94%	+3.94
VONG Vanguard Russell 1000 Growth	New	3.82%	+3.82
INTF iShares International Equity	Add +8.3%	16.25%	+1.39
BTCO Invsco GLXY BTCN ETF	New	0.22%	+0.22
BRK.B Berkshire Hathaway Inc. Class B	New	0.04%	+0.04
QUAL iShares MSCI USA Quality Fac	Add +84.0%	0.10%	+0.04
NVDA Nvidia Corp.	Add +56.9%	0.24%	+0.04
NULC Nuveen ESG Large-Cap ETF	Add +16.8%	0.63%	+0.04
IEMG iShares Core MSCI Emerging	Add +8.8%	0.19%	+0.01
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	Add +6.8%	0.10%	+0.00
EUSA iShares MSCI USA Equal Weigh	Add +7.4%	0.14%	−0.00
OWNS CCM Affordable Hous MBS ETF	Add +1.3%	0.24%	−0.01
IVV iShares Core S&P 500 ETF	Add +5.7%	0.53%	−0.03
USHY iShares Broad Usd High Yield	Add +1.0%	1.23%	−0.06
VOTE TCW Transform 500 ETF	Add +0.5%	0.84%	−0.10
ITOT iShares Core S&P Total U.S.	Add +0.0%	6.54%	−0.79
LRGF iShares US Equity Factor ETF	Add +2.5%	21.03%	−1.71

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	96	$741.9M	LRGF, INTF, QUS, ITOT, VONG
Q1 2026	92	$685.0M	LRGF, INTF, QUS, ITOT, VONG
Q4 2025	92	$692.6M	LRGF, INTF, QUS, ITOT, SGOV
Q3 2025	89	$646.4M	LRGF, INTF, QUS, ITOT, VONG
Q2 2025Amended	84	$585.1M	LRGF, INTF, QUS, ITOT, VONG
Q1 2025Amended	86	$518.6M	LRGF, QUS, INTF, ITOT, HIMU
Q4 2024	103	$487.7M	LRGF, QUS, INTF, ITOT, SPY
Q3 2024	82	$524.8M	LRGF, QUS, INTF, SPY, ITOT
Q2 2024	81	$507.0M	LRGF, QUS, INTF, ITOT, VEU
Q1 2024	81	$511.0M	QUS, LRGF, INTF, ITOT, VEU