Tolleson Wealth Management, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 28, 2025), Tolleson Wealth Management, Inc. reported 84 stock positions worth $585.1 million. Its top holding was iShares US Equity Factor ETF (LRGF) at 23.0% of the portfolio, followed by iShares International Equity (INTF, 16.7%) and SS SPDR MSCI U Stratfact ETF (QUS, 15.8%). Compared with Q1 2025, it opened 3 new positions, sold out of 5, added to 14 and reduced 24. The biggest buy was iShares US Equity Factor ETF (LRGF, shares +11%) and the biggest sale SS SPDR MSCI U Stratfact ETF (QUS, shares −3%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001772937
Portfolio Value
$585.1M (Q2 2025)
SEC Filing
0001772937-25-000014 ↗ filed Aug 28, 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 Q4 2024 Q1 2025: $518.6M Q1 2025 Q2 2025: $585.1M $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 84 stocks · $585.1M
LRGF iShares US Equity Factor ETF 23.01% 2,099,726 $134.7M Add +11.4%
INTF iShares International Equity 16.68% 2,851,077 $97.6M Add +4.3%
QUS SS SPDR MSCI U Stratfact ETF 15.85% 568,476 $92.7M Reduce -2.8%
ITOT iShares Core S&P Total U.S. 6.38% 276,648 $37.4M Reduce -0.5%
VONG Vanguard Russell 1000 Growth 4.29% 230,015 $25.1M Add +7.7%
HIMU iShares High Yild Muni A ETF 3.86% 464,974 $22.6M Add +12.8%
VEU Vanguard Ftse All-World Ex-U 3.43% 298,280 $20.1M Add +0.0%
SPY SS SPDR S&P 500 ETF Trust-US 3.04% 28,748 $17.8M Reduce -0.3%
IQLT iShares MSCI International Q 1.99% 269,267 $11.6M Reduce -4.6%
EFA iShares MSCI Eafe ETF 1.50% 98,274 $8.8M Reduce -0.2%
UCON First Trust Smith Unconstrai 1.40% 328,915 $8.2M Add +15.7%
IWF iShares Russell 1000 Growth 1.21% 16,627 $7.1M Reduce -1.7%
IWR iShares Russell Mid-Cap ETF 1.11% 70,446 $6.5M Reduce -0.1%
USHY iShares Broad Usd High Yield 1.07% 167,643 $6.3M Reduce -3.3%
VOTE TCW Transform 500 ETF 0.83% 66,650 $4.8M No change
IWD iShares Russell 1000 Value E 0.78% 23,531 $4.6M Reduce -0.3%
VTHR Vanguard Russell 3000 0.78% 16,701 $4.6M No change
NULC Nuveen ESG Large-Cap ETF 0.62% 74,068 $3.6M No change
IWP iShares Russell Mid-Cap Grow 0.62% 26,171 $3.6M Reduce -2.5%
AAXJ iShares MSCI All Country Asi 0.62% 43,826 $3.6M Reduce -0.2%
VOO Vanguard S&P 500 ETF 0.54% 5,592 $3.2M Add +132.3%
IWV iShares Russell 3000 ETF 0.54% 9,066 $3.2M No change
GLXY Galaxy Digital Inc. Class A 0.54% 145,000 $3.2M New
MA Mastercard Inc. Class A 0.52% 5,388 $3.0M No change
IVV iShares Core S&P 500 ETF 0.49% 4,656 $2.9M Reduce -5.4%
MSFT Microsoft Corp. 0.45% 5,269 $2.6M Add +1.0%
XSMO Invesco S&P Smallcap Momentu 0.34% 29,468 $2.0M No change
GS Goldman Sachs Group Inc. 0.32% 2,683 $1.9M No change
VGK Vanguard Ftse Europe ETF 0.32% 24,151 $1.9M Reduce -0.3%
USIG iShares Broad Usd Investment 0.29% 33,073 $1.7M Add +18.6%
SCHB Schwab US Broad Market ETF 0.29% 70,940 $1.7M Reduce -9.3%
VEA Vanguard Ftse Developed ETF 0.28% 28,361 $1.6M Reduce -36.1%
AAPL Apple Inc. 0.27% 7,694 $1.6M Add +0.3%
XSVM Invesco S&P Smallcap Value W 0.27% 30,000 $1.6M No change
GLD SPDR Gold Shares 0.26% 4,956 $1.5M No change
SHYM iShares Short Duration High 0.25% 65,600 $1.5M Reduce -2.9%
NVDA Nvidia Corp. 0.25% 9,210 $1.5M Reduce -18.5%
BTCO Invsco GLXY BTCN ETF 0.24% 13,030 $1.4M Reduce -6.9%
OWNS CCM Affordable Hous MBS ETF 0.21% 70,676 $1.2M No change
NUEM Nuveen ESG Emerging Markets 0.20% 35,489 $1.2M Add +1.3%
VXUS Vanguard Total Intl Stock 0.19% 15,771 $1.1M Reduce -6.2%
IEMG iShares Core MSCI Emerging 0.17% 16,698 $1.0M Reduce -10.0%
AGG iShares Core U.S. Aggregate 0.16% 9,620 $954K Reduce -0.3%
VGSH Vanguard Short-Term Treasury 0.16% 16,164 $950K No change
USMV iShares MSCI USA Min Vol Fac 0.16% 10,025 $941K No change
UNH Unitedhealth Group Inc. 0.16% 2,942 $918K No change
ADBE Adobe Inc. 0.15% 2,259 $874K No change
AMZN Amazon.com Inc. 0.15% 3,960 $869K No change
EUSA iShares MSCI USA Equal Weigh 0.14% 7,978 $791K No change
NUDM Nuveen ESG Intl Devel MRK Eq 0.13% 21,979 $780K No change
INTU Intuit Inc. 0.13% 969 $763K No change
USAC USA Compression Partners LP 0.13% 30,837 $750K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.12% 8,177 $687K Reduce -4.3%
ADP Automatic Data Processing 0.12% 2,205 $683K No change
SDG Ish MSCI Glob Sust Deve Goal 0.12% 8,980 $681K No change
DHI D.R. Horton Inc. 0.11% 4,901 $632K No change
SYY Sysco Corp. 0.10% 7,908 $599K No change
XLK SS Technology Select Sector 0.10% 2,334 $591K Add +13.5%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.10% 7,259 $585K Add +15.7%
IWB iShares Russell 1000 ETF 0.10% 1,690 $574K No change
ICF iShares Select U.S. REIT ETF 0.09% 8,998 $550K Reduce -0.9%
QUAL iShares MSCI USA Quality Fac 0.09% 2,957 $541K No change
V Visa Inc. Class A 0.09% 1,446 $513K Reduce -48.5%
NTAP Netapp Inc. 0.08% 4,282 $456K No change
VB Vanguard Most SM-Cap ETF-Usd 0.07% 1,761 $419K No change
VPL Vanguard Ftse Pacific ETF 0.07% 5,004 $411K No change
MIN Aberdeen Intermediate Inc. FD 0.06% 129,626 $351K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.06% 4,213 $344K No change
BKT BlackRock Income Trust 0.06% 28,485 $335K No change
XLP SS Consumer Staples Sel Sect 0.06% 4,053 $328K No change
VTEC Vanguard Ca Tax-Ex Bond 0.06% 3,300 $322K No change
EEMA iShares MSCI Emerg MRKT Asia 0.05% 3,872 $320K No change
XLV SS Health Care Select Sector 0.05% 2,311 $312K No change
ABT Abbott Laboratories 0.05% 2,159 $294K No change
SBUX Starbucks Corp. 0.05% 3,201 $293K No change
BHK BlackRock Core Bond Trust 0.05% 29,548 $287K No change
CBRE CBRE Group Inc. Class A 0.05% 2,000 $280K No change
SPAB SS SPDR P Agg Bond ETF 0.04% 10,180 $261K No change
AMG Affiliated Managers Group 0.04% 1,319 $260K No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 3,047 $246K No change
CAT Caterpillar Inc. 0.04% 600 $233K New
BA The Boeing Co. 0.04% 1,100 $230K New
XT Ishar Fture Exp Tech ETF-Usd 0.04% 3,511 $229K No change
KRO Kronos Worldwide Inc. 0.03% 32,045 $199K Add +9.6%

Portfolio Sells Q1 2025 → Q2 2025
QUS SS SPDR MSCI U Stratfact ETF Reduce -2.8% 15.85% −1.82
IQLT iShares MSCI International Q Reduce -4.6% 1.99% −0.17
VEA Vanguard Ftse Developed ETF Reduce -36.1% 0.28% −0.16
USHY iShares Broad Usd High Yield Reduce -3.3% 1.07% −0.16
ITOT iShares Core S&P Total U.S. Reduce -0.5% 6.38% −0.16
GNR State Street SPDR S&P Global Sold out 0.00% −0.13
V Visa Inc. Class A Reduce -48.5% 0.09% −0.10
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.3% 3.04% −0.08
IWD iShares Russell 1000 Value E Reduce -0.3% 0.78% −0.07
EFA iShares MSCI Eafe ETF Reduce -0.2% 1.50% −0.05
VUG Vanguard Mrngstar GR ETF-Sui Sold out 0.00% −0.05
VO Vngrd Mrngstr MD-Cap ETF-Usd Sold out 0.00% −0.05
IWR iShares Russell Mid-Cap ETF Reduce -0.1% 1.11% −0.05
SHYM iShares Short Duration High Reduce -2.9% 0.25% −0.05
EEMV iShares MSCI Emg MKT Min Vol Sold out 0.00% −0.04
BRK.B Berkshire Hathaway Inc. Class B Sold out 0.00% −0.04
IVV iShares Core S&P 500 ETF Reduce -5.4% 0.49% −0.04
SCHB Schwab US Broad Market ETF Reduce -9.3% 0.29% −0.04
IEMG iShares Core MSCI Emerging Reduce -10.0% 0.17% −0.02
AGG iShares Core U.S. Aggregate Reduce -0.3% 0.16% −0.02
VXUS Vanguard Total Intl Stock Reduce -6.2% 0.19% −0.01
ICF iShares Select U.S. REIT ETF Reduce -0.9% 0.09% −0.01
EFAV iShares MSCI Eafe Min Vol Fa Reduce -4.3% 0.12% −0.01
VGK Vanguard Ftse Europe ETF Reduce -0.3% 0.32% −0.01
AAXJ iShares MSCI All Country Asi Reduce -0.2% 0.62% −0.01
IWP iShares Russell Mid-Cap Grow Reduce -2.5% 0.62% +0.01
NVDA Nvidia Corp. Reduce -18.5% 0.25% +0.01
BTCO Invsco GLXY BTCN ETF Reduce -6.9% 0.24% +0.02
IWF iShares Russell 1000 Growth Reduce -1.7% 1.21% +0.03

Portfolio Buys Q1 2025 → Q2 2025
LRGF iShares US Equity Factor ETF Add +11.4% 23.01% +1.99
GLXY Galaxy Digital Inc. Class A New 0.54% +0.54
VONG Vanguard Russell 1000 Growth Add +7.7% 4.29% +0.47
INTF iShares International Equity Add +4.3% 16.68% +0.43
VOO Vanguard S&P 500 ETF Add +132.3% 0.54% +0.31
MSFT Microsoft Corp. Add +1.0% 0.45% +0.07
UCON First Trust Smith Unconstrai Add +15.7% 1.40% +0.04
CAT Caterpillar Inc. New 0.04% +0.04
BA The Boeing Co. New 0.04% +0.04
XLK SS Technology Select Sector Add +13.5% 0.10% +0.02
USIG iShares Broad Usd Investment Add +18.6% 0.29% +0.02
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +15.7% 0.10% +0.00
NUEM Nuveen ESG Emerging Markets Add +1.3% 0.20% +0.00
KRO Kronos Worldwide Inc. Add +9.6% 0.03% −0.01
AAPL Apple Inc. Add +0.3% 0.27% −0.06
VEU Vanguard Ftse All-World Ex-U Add +0.0% 3.43% −0.06
HIMU iShares High Yild Muni A ETF Add +12.8% 3.86% −0.07

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