Towercrest Capital Management

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Towercrest Capital Management reported 103 stock positions worth $618.7 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 10.8% of the portfolio, followed by Schwab US Large-Cap ETF (SCHX, 8.5%) and iShares Core U.S. Aggregate (AGG, 5.8%). Compared with Q3 2024, it opened 7 new positions, sold out of 5, added to 34 and reduced 32. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +3%) and the biggest sale SS SPDR N Ice Muni Bond ETF (TFI, shares −34%).

Most Recent 13F
Q2 2026
Location
NEWTOWN, PA
CIK
0001633288
Portfolio Value
$618.7M (Q4 2024)
SEC Filing
0001633288-25-000001 ↗ filed Feb 11, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $592.8M Q1 2024 Q2 2024: $607.6M Q2 2024 Q3 2024: $620.5M Q3 2024 Q4 2024: $618.7M $618.7M Q4 2024 Q1 2025: $526.3M Q1 2025 Q2 2025: $560.2M Q2 2025 Q3 2025: $623.4M Q3 2025 Q4 2025: $634.3M Q4 2025 Q1 2026: $641.8M Q1 2026 Q2 2026: $717.4M Q2 2026

Holdings 103 stocks · $618.7M
IVV iShares Core S&P 500 ETF 10.77% 113,246 $66.7M Add +3.1%
SCHX Schwab US Large-Cap ETF 8.50% 2,269,625 $52.6M Add +0.2%
AGG iShares Core U.S. Aggregate 5.83% 372,192 $36.1M Add +8.4%
FLOT iShares Floating Rate Bond E 5.39% 655,173 $33.3M Add +3.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 4.83% 379,791 $29.9M Add +3.7%
SCHZ Schwab US Aggregate Bond ETF 3.93% 1,070,411 $24.3M Reduce -2.9%
FLRN SS SPDR BB Ig Float RT ETF 3.72% 748,100 $23.0M Add +0.8%
IEFA iShares Core MSCI Eafe ETF 3.62% 319,098 $22.4M Add +1.4%
EMB iShares JP Morgan Usd Emergi 3.07% 213,336 $19.0M Add +0.8%
IEMG iShares Core MSCI Emerging 3.07% 363,249 $19.0M Add +11.2%
AAPL Apple Inc. 2.54% 62,713 $15.7M Add +5.6%
SCHF Schwab Intl Equity ETF 2.51% 840,555 $15.6M Reduce -1.0%
IJH iShares Core S&P Midcap ETF 2.47% 245,093 $15.3M Add +2.1%
IJR iShares Core S&P Small-Cap E 2.44% 131,167 $15.1M Reduce -0.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.37% 137,122 $14.7M Add +23.8%
MUB iShares National Muni Bond E 2.27% 131,678 $14.0M Add +15.0%
SCHE Schwab Emrg Mrkts Eqty ETF 2.16% 501,415 $13.4M Add +1.4%
SPYM Ste STR SPDR PT S&P 500 ETF 1.95% 175,392 $12.1M Reduce -2.5%
SPY SS SPDR S&P 500 ETF Trust-US 1.94% 20,485 $12.0M Add +0.8%
SCHM Schwab US Mid Cap ETF 1.68% 375,671 $10.4M Reduce -0.8%
SCHA Schwab US Small-Cap ETF 1.65% 394,651 $10.2M Reduce -2.7%
ITOT iShares Core S&P Total U.S. 1.61% 77,612 $10.0M Reduce -10.7%
SCHB Schwab US Broad Market ETF 1.57% 427,762 $9.7M Reduce -10.5%
CORP PIMCO Inv Grade Corp. BD ETF 1.52% 99,074 $9.4M Reduce -3.1%
SPAB SS SPDR P Agg Bond ETF 1.43% 353,996 $8.8M Reduce -0.3%
SHYG iShares 0-5 YR HY Corp. Bond 1.01% 146,986 $6.3M Add +0.4%
DGRO iShares Core Dividend Growth 0.94% 94,445 $5.8M Add +0.2%
SCHD Schwab US DVD Equity ETF 0.91% 206,821 $5.7M Reduce -2.7%
SPEM State Street SP PTF Em ETF 0.89% 144,067 $5.5M Add +1.3%
SPDW Ste STR SPDR PT DW Eu ETF 0.89% 160,468 $5.5M Reduce -2.9%
SPIB SS SPDR P Int C Corp. ETF 0.85% 161,120 $5.3M Add +6.9%
PCY Invesco Emerging Markets Sov 0.84% 263,578 $5.2M Add +2.0%
MSFT Microsoft Corp. 0.74% 10,932 $4.6M Add +0.2%
IFLN Invesco Bloomberg Enhanced F 0.69% 236,471 $4.3M Add +1.9%
IWF iShares Russell 1000 Growth 0.62% 9,624 $3.9M No change
TFI SS SPDR N Ice Muni Bond ETF 0.57% 77,756 $3.5M Reduce -34.5%
META Meta Platforms Inc. Class A 0.54% 5,654 $3.3M Reduce -0.1%
SCHG Schwab US Large-Cap Growth 0.46% 102,232 $2.8M No change
NVDA Nvidia Corp. 0.39% 18,123 $2.4M Add +16.6%
SPMD SS SPDR P S&P 400 Midcap ETF 0.39% 43,673 $2.4M Reduce -3.2%
SPSM SS SPDR P S&P 600 Small Cap 0.37% 51,345 $2.3M Reduce -5.7%
JPM JPMorgan Chase & Co. 0.37% 9,459 $2.3M Reduce -0.4%
UPS United Parcel Service Class B 0.30% 14,579 $1.8M No change
SHY iShares 1-3 Year Treasury Bo 0.27% 20,212 $1.7M Add +3.8%
SPTM SS SPDR P S&P 1500 Comp ETF 0.25% 21,943 $1.6M Reduce -14.9%
SPYD SS SPDR P S&P 500 Hi Div ETF 0.23% 33,592 $1.5M Reduce -6.5%
AMZN Amazon.com Inc. 0.21% 6,025 $1.3M Add +5.1%
RSP Invesco S&P 500 Equal Weight 0.20% 7,049 $1.2M No change
SCHO Schwab Short-Term US Treas 0.18% 46,929 $1.1M Add +4.0%
QQQ Invesco QQQ Trust Series 1 0.17% 2,072 $1.1M Reduce -19.1%
JNJ Johnson & Johnson 0.16% 6,706 $970K Reduce -0.2%
MRK Merck & Co. Inc. 0.15% 9,145 $910K Reduce -0.4%
VUG Vanguard Mrngstar GR ETF-Sui 0.15% 2,191 $899K No change
HD Home Depot Inc. 0.14% 2,202 $857K Add +68.7%
GOOG Alphabet Inc. Class C 0.13% 4,155 $791K Reduce -0.4%
VTI VG Morningstar TS MKT ETF-US 0.13% 2,722 $789K Reduce -1.9%
GLD SPDR Gold Shares 0.12% 3,140 $760K Reduce -0.3%
V Visa Inc. Class A 0.12% 2,355 $744K No change
T AT&T Inc. 0.11% 29,776 $678K Add +1.7%
GOOGL Alphabet Inc. Class A 0.11% 3,554 $673K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.10% 14,717 $647K No change
SCHV Schwab US Large-Cap Value 0.10% 24,237 $632K No change
VOO Vanguard S&P 500 ETF 0.09% 1,089 $587K Add +0.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 2,587 $569K No change
VIG Vanguard Dividend Apprec ETF 0.09% 2,791 $547K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.09% 3,208 $543K No change
COKE Coca-Cola Consolidated Inc. 0.09% 8,534 $531K No change
IWD iShares Russell 1000 Value E 0.08% 2,753 $510K Reduce -11.0%
FBND Fidelity Total Bond ETF 0.08% 10,616 $476K No change
CL Colgate-Palmolive Co. 0.07% 4,987 $453K Add +72.8%
CSCO Cisco Systems Inc. 0.07% 7,627 $452K No change
IWP iShares Russell Mid-Cap Grow 0.07% 3,488 $442K No change
PG The Procter & Gamble Co. 0.07% 2,594 $435K Reduce -1.2%
XOM Exxon Mobil Corp. 0.07% 4,008 $431K Reduce -1.2%
XLK SS Technology Select Sector 0.07% 1,808 $420K No change
ORCL Oracle Corp. 0.07% 2,498 $416K No change
PFE Pfizer Inc. 0.06% 15,107 $401K No change
CPNG Coupang Inc. 0.06% 18,170 $399K No change
CVX Chevron Corp. 0.06% 2,605 $377K Reduce -1.1%
DFUS Dimensional US Eq MKT ETF 0.06% 5,721 $365K No change
NEE Nextera Energy Inc. 0.06% 5,074 $364K Add +0.5%
WMT Walmart Inc. 0.06% 3,910 $353K Reduce -2.5%
REZI Resideo Technologies Inc. 0.06% 15,203 $350K No change
PEP Pepsico Inc. 0.05% 2,151 $327K No change
COST Costco Wholesale Corp. 0.05% 348 $319K Reduce -0.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.05% 2,833 $316K Add +0.1%
VYM Vanguard High DVD Yield ETF 0.05% 2,455 $313K Reduce -34.8%
PEG Public Service Enterprise GP 0.05% 3,652 $309K No change
VT Vanguard Tot World STK ETF 0.05% 2,545 $299K No change
AMCA iShares Russell 1000 US Rev 0.05% 905 $292K No change
VZ Verizon Communications Inc. 0.04% 6,270 $251K Add +35.9%
XLF SS Financial Select Sector 0.04% 4,976 $241K New
GDDY GoDaddy Inc. Class A 0.04% 1,214 $240K New
BRK.B Berkshire Hathaway Inc. Class B 0.04% 512 $232K No change
VOOG Vanguard S&P 500 Growth ETF 0.04% 633 $232K New
SPSB SS SPDR P St C Corp. ETF 0.04% 7,778 $226K Add +0.8%
BA The Boeing Co. 0.04% 1,255 $222K New
BMY Bristol-Myers Squibb Co. 0.03% 3,757 $212K New
NFLX Netflix Inc. 0.03% 238 $212K New
ED Consolidated Edison Inc. 0.03% 2,374 $212K No change
GS Goldman Sachs Group Inc. 0.03% 362 $207K New
PM Philip Morris International 0.03% 3,924 $205K No change
DSI iShares ESG MSCI KLD 400 ETF 0.03% 1,854 $204K No change

Portfolio Sells Q3 2024 → Q4 2024
TFI SS SPDR N Ice Muni Bond ETF Reduce -34.5% 0.57% −0.32
SCHF Schwab Intl Equity ETF Reduce -1.0% 2.51% −0.30
SCHZ Schwab US Aggregate Bond ETF Reduce -2.9% 3.93% −0.29
IBB iShares Biotechnology ETF Sold out 0.00% −0.21
ITOT iShares Core S&P Total U.S. Reduce -10.7% 1.61% −0.15
SCHB Schwab US Broad Market ETF Reduce -10.5% 1.57% −0.14
CORP PIMCO Inv Grade Corp. BD ETF Reduce -3.1% 1.52% −0.12
SPDW Ste STR SPDR PT DW Eu ETF Reduce -2.9% 0.89% −0.12
LLY Eli Lilly & Co. Sold out 0.00% −0.11
SPAB SS SPDR P Agg Bond ETF Reduce -0.3% 1.43% −0.07
SCHD Schwab US DVD Equity ETF Reduce -2.7% 0.91% −0.05
CMCSA Comcast Corp. Class A Sold out 0.00% −0.05
SPTM SS SPDR P S&P 1500 Comp ETF Reduce -14.9% 0.25% −0.04
IJR iShares Core S&P Small-Cap E Reduce -0.3% 2.44% −0.04
VEU Vanguard Ftse All-World Ex-U Sold out 0.00% −0.04
SCHA Schwab US Small-Cap ETF Reduce -2.7% 1.65% −0.03
HSY The Hershey Co. Sold out 0.00% −0.03
QQQ Invesco QQQ Trust Series 1 Reduce -19.1% 0.17% −0.03
SPYD SS SPDR P S&P 500 Hi Div ETF Reduce -6.5% 0.23% −0.03
VYM Vanguard High DVD Yield ETF Reduce -34.8% 0.05% −0.03
SPSM SS SPDR P S&P 600 Small Cap Reduce -5.7% 0.37% −0.03
MRK Merck & Co. Inc. Reduce -0.4% 0.15% −0.02
JNJ Johnson & Johnson Reduce -0.2% 0.16% −0.02
IWD iShares Russell 1000 Value E Reduce -11.0% 0.08% −0.01
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -3.2% 0.39% −0.01
SCHM Schwab US Mid Cap ETF Reduce -0.8% 1.68% −0.01
XOM Exxon Mobil Corp. Reduce -1.2% 0.07% −0.01
PG The Procter & Gamble Co. Reduce -1.2% 0.07% −0.00
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -2.5% 1.95% −0.00
CVX Chevron Corp. Reduce -1.1% 0.06% −0.00
GLD SPDR Gold Shares Reduce -0.3% 0.12% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -1.9% 0.13% +0.00
COST Costco Wholesale Corp. Reduce -0.8% 0.05% +0.00
WMT Walmart Inc. Reduce -2.5% 0.06% +0.00
META Meta Platforms Inc. Class A Reduce -0.1% 0.54% +0.01
GOOG Alphabet Inc. Class C Reduce -0.4% 0.13% +0.02
JPM JPMorgan Chase & Co. Reduce -0.4% 0.37% +0.04

Portfolio Buys Q3 2024 → Q4 2024
IVV iShares Core S&P 500 ETF Add +3.1% 10.77% +0.56
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +23.8% 2.37% +0.35
AAPL Apple Inc. Add +5.6% 2.54% +0.31
MUB iShares National Muni Bond E Add +15.0% 2.27% +0.26
SCHX Schwab US Large-Cap ETF Add +0.2% 8.50% +0.25
AGG iShares Core U.S. Aggregate Add +8.4% 5.83% +0.22
FLOT iShares Floating Rate Bond E Add +3.4% 5.39% +0.18
NVDA Nvidia Corp. Add +16.6% 0.39% +0.09
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +3.7% 4.83% +0.09
SPY SS SPDR S&P 500 ETF Trust-US Add +0.8% 1.94% +0.06
IJH iShares Core S&P Midcap ETF Add +2.1% 2.47% +0.06
HD Home Depot Inc. Add +68.7% 0.14% +0.05
IEMG iShares Core MSCI Emerging Add +11.2% 3.07% +0.04
AMZN Amazon.com Inc. Add +5.1% 0.21% +0.04
XLF SS Financial Select Sector New 0.04% +0.04
GDDY GoDaddy Inc. Class A New 0.04% +0.04
VOOG Vanguard S&P 500 Growth ETF New 0.04% +0.04
BA The Boeing Co. New 0.04% +0.04
SPIB SS SPDR P Int C Corp. ETF Add +6.9% 0.85% +0.03
BMY Bristol-Myers Squibb Co. New 0.03% +0.03
NFLX Netflix Inc. New 0.03% +0.03
GS Goldman Sachs Group Inc. New 0.03% +0.03
CL Colgate-Palmolive Co. Add +72.8% 0.07% +0.03
FLRN SS SPDR BB Ig Float RT ETF Add +0.8% 3.72% +0.02
DIS The Walt Disney Co. Add +0.1% 0.05% +0.01
VZ Verizon Communications Inc. Add +35.9% 0.04% +0.01
SHY iShares 1-3 Year Treasury Bo Add +3.8% 0.27% +0.01
T AT&T Inc. Add +1.7% 0.11% +0.01
SCHO Schwab Short-Term US Treas Add +4.0% 0.18% +0.00
VOO Vanguard S&P 500 ETF Add +0.5% 0.09% +0.00
SPSB SS SPDR P St C Corp. ETF Add +0.8% 0.04% −0.00
IFLN Invesco Bloomberg Enhanced F Add +1.9% 0.69% −0.00
NEE Nextera Energy Inc. Add +0.5% 0.06% −0.01
MSFT Microsoft Corp. Add +0.2% 0.74% −0.01
SHYG iShares 0-5 YR HY Corp. Bond Add +0.4% 1.01% −0.01
DGRO iShares Core Dividend Growth Add +0.2% 0.94% −0.02
PCY Invesco Emerging Markets Sov Add +2.0% 0.84% −0.05
SPEM State Street SP PTF Em ETF Add +1.3% 0.89% −0.05
EMB iShares JP Morgan Usd Emergi Add +0.8% 3.07% −0.12
SCHE Schwab Emrg Mrkts Eqty ETF Add +1.4% 2.16% −0.17
IEFA iShares Core MSCI Eafe ETF Add +1.4% 3.62% −0.34

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 110$717.4MIVV, SCHX, AGG, HYG, LQD
Q1 2026 103$641.8MIVV, SCHX, AGG, HYG, LQD
Q4 2025 98$634.3MIVV, SCHX, AGG, HYG, FLOT
Q3 2025 99$623.4MIVV, SCHX, AGG, HYG, FLOT
Q2 2025 89$560.2MSCHX, IVV, AGG, HYG, FLOT
Q1 2025 88$526.3MSCHX, IVV, AGG, FLOT, HYG
Q4 2024 103$618.7MIVV, SCHX, AGG, FLOT, HYG
Q3 2024 101$620.5MIVV, SCHX, AGG, FLOT, HYG
Q2 2024 107$607.6MIVV, SCHX, FLOT, AGG, HYG
Q1 2024 107$592.8MIVV, SCHX, FLOT, AGG, HYG