Towercrest Capital Management

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), Towercrest Capital Management reported 89 stock positions worth $560.2 million. Its top holding was Schwab US Large-Cap ETF (SCHX) at 9.9% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 9.7%) and iShares Core U.S. Aggregate (AGG, 5.5%). Compared with Q1 2025, it opened 3 new positions, sold out of 2, added to 30 and reduced 31. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +4%) and the biggest sale SS SPDR BB Ig Float RT ETF (FLRN, shares −8%).

Most Recent 13F
Q2 2026
Location
NEWTOWN, PA
CIK
0001633288
Portfolio Value
$560.2M (Q2 2025)
SEC Filing
0001633288-25-000003 ↗ filed Aug 5, 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 Q4 2024 Q1 2025: $526.3M Q1 2025 Q2 2025: $560.2M $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 89 stocks · $560.2M
SCHX Schwab US Large-Cap ETF 9.95% 2,280,596 $55.7M Add +3.4%
IVV iShares Core S&P 500 ETF 9.68% 87,231 $54.2M Add +3.7%
AGG iShares Core U.S. Aggregate 5.46% 308,652 $30.6M Reduce -1.3%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 4.78% 332,071 $26.8M Reduce -1.6%
FLOT iShares Floating Rate Bond E 4.60% 504,762 $25.8M Reduce -4.4%
SCHZ Schwab US Aggregate Bond ETF 4.26% 1,027,933 $23.9M Reduce -5.7%
IEFA iShares Core MSCI Eafe ETF 3.82% 256,688 $21.4M Add +1.0%
FLRN SS SPDR BB Ig Float RT ETF 3.53% 641,244 $19.8M Reduce -7.8%
SCHF Schwab Intl Equity ETF 3.39% 859,056 $19.0M Add +0.9%
IEMG iShares Core MSCI Emerging 3.21% 299,232 $18.0M Reduce -1.4%
EMB iShares JP Morgan Usd Emergi 3.14% 190,040 $17.6M Reduce -2.8%
SCHE Schwab Emrg Mrkts Eqty ETF 2.81% 521,628 $15.7M Reduce -2.1%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.71% 138,636 $15.2M Add +6.6%
SPYM Ste STR SPDR PT S&P 500 ETF 2.31% 177,853 $12.9M Add +3.2%
MUB iShares National Muni Bond E 2.29% 122,745 $12.8M Add +0.9%
IJH iShares Core S&P Midcap ETF 2.15% 194,216 $12.0M Add +7.6%
IJR iShares Core S&P Small-Cap E 2.14% 109,494 $12.0M Add +10.8%
SCHM Schwab US Mid Cap ETF 1.95% 388,625 $10.9M Add +6.7%
SCHA Schwab US Small-Cap ETF 1.91% 423,636 $10.7M Add +10.9%
CORP PIMCO Inv Grade Corp. BD ETF 1.91% 110,127 $10.7M Add +1.9%
SCHB Schwab US Broad Market ETF 1.82% 428,601 $10.2M Add +4.1%
SPY SS SPDR S&P 500 ETF Trust-US 1.68% 15,226 $9.4M Add +4.8%
SPAB SS SPDR P Agg Bond ETF 1.59% 348,639 $8.9M Reduce -3.3%
ITOT iShares Core S&P Total U.S. 1.44% 59,643 $8.1M Add +6.8%
AAPL Apple Inc. 1.29% 35,188 $7.2M Reduce -0.3%
SHYG iShares 0-5 YR HY Corp. Bond 1.09% 141,807 $6.1M Reduce -0.0%
SPIB SS SPDR P Int C Corp. ETF 1.06% 177,168 $5.9M Add +4.8%
PCY Invesco Emerging Markets Sov 0.96% 264,590 $5.4M Reduce -2.4%
SPEM State Street SP PTF Em ETF 0.95% 124,809 $5.3M Reduce -3.2%
SCHD Schwab US DVD Equity ETF 0.94% 198,638 $5.3M Reduce -4.5%
SPDW Ste STR SPDR PT DW Eu ETF 0.90% 124,905 $5.1M Reduce -1.4%
DGRO iShares Core Dividend Growth 0.88% 76,779 $4.9M Add +0.2%
IFLN Invesco Bloomberg Enhanced F 0.76% 229,772 $4.2M Reduce -0.9%
TFI SS SPDR N Ice Muni Bond ETF 0.61% 76,157 $3.4M Add +0.8%
MSFT Microsoft Corp. 0.57% 6,463 $3.2M Add +2.2%
IWF iShares Russell 1000 Growth 0.55% 7,201 $3.1M Reduce -1.7%
SCHG Schwab US Large-Cap Growth 0.53% 102,232 $3.0M No change
SPMD SS SPDR P S&P 400 Midcap ETF 0.44% 45,211 $2.5M Add +5.5%
SPSM SS SPDR P S&P 600 Small Cap 0.43% 56,316 $2.4M Add +10.4%
SPTM SS SPDR P S&P 1500 Comp ETF 0.29% 21,770 $1.6M Add +2.9%
SPYD SS SPDR P S&P 500 Hi Div ETF 0.26% 33,973 $1.4M Reduce -1.9%
SHY iShares 1-3 Year Treasury Bo 0.23% 15,711 $1.3M Add +1.3%
RSP Invesco S&P 500 Equal Weight 0.23% 6,989 $1.3M No change
JPM JPMorgan Chase & Co. 0.23% 4,377 $1.3M Reduce -8.4%
NVDA Nvidia Corp. 0.20% 7,218 $1.1M Reduce -2.0%
SCHO Schwab Short-Term US Treas 0.20% 45,734 $1.1M Reduce -0.3%
AMZN Amazon.com Inc. 0.18% 4,604 $1.0M Add +7.0%
JNJ Johnson & Johnson 0.18% 6,480 $990K Add +0.3%
QQQ Invesco QQQ Trust Series 1 0.17% 1,771 $977K Add +0.6%
META Meta Platforms Inc. Class A 0.17% 1,320 $974K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.17% 2,191 $961K No change
VTI VG Morningstar TS MKT ETF-US 0.14% 2,666 $810K Reduce -1.1%
T AT&T Inc. 0.14% 27,663 $801K Add +0.1%
V Visa Inc. Class A 0.13% 2,096 $744K No change
MRK Merck & Co. Inc. 0.13% 9,125 $722K Reduce -0.2%
GOOG Alphabet Inc. Class C 0.12% 3,945 $700K No change
HD Home Depot Inc. 0.12% 1,874 $687K Reduce -0.3%
SCHV Schwab US Large-Cap Value 0.12% 24,237 $671K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.11% 2,086 $615K Reduce -0.1%
VIG Vanguard Dividend Apprec ETF 0.11% 3,001 $614K Add +12.1%
COKE Coca-Cola Consolidated Inc. 0.11% 8,534 $604K Reduce -90.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.10% 12,021 $569K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.10% 3,208 $567K No change
ORCL Oracle Corp. 0.10% 2,498 $546K No change
VOO Vanguard S&P 500 ETF 0.10% 950 $539K No change
FBND Fidelity Total Bond ETF 0.09% 10,616 $486K No change
CSCO Cisco Systems Inc. 0.08% 6,757 $469K No change
IWD iShares Russell 1000 Value E 0.08% 2,235 $434K Reduce -4.8%
CL Colgate-Palmolive Co. 0.08% 4,772 $434K Reduce -0.1%
DFUS Dimensional US Eq MKT ETF 0.07% 5,721 $383K No change
WMT Walmart Inc. 0.07% 3,904 $382K No change
NEE Nextera Energy Inc. 0.06% 5,122 $356K Add +0.5%
COST Costco Wholesale Corp. 0.06% 348 $345K No change
CVX Chevron Corp. 0.06% 2,400 $344K No change
GOOGL Alphabet Inc. Class A 0.06% 1,894 $334K No change
VT Vanguard Tot World STK ETF 0.06% 2,547 $327K No change
IWP iShares Russell Mid-Cap Grow 0.06% 2,360 $327K No change
NFLX Netflix Inc. 0.06% 238 $319K No change
PEG Public Service Enterprise GP 0.05% 3,652 $307K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.05% 2,298 $285K No change
AMCA iShares Russell 1000 US Rev 0.05% 785 $267K Reduce -13.3%
VZ Verizon Communications Inc. 0.04% 5,723 $248K Add +0.2%
UNH Unitedhealth Group Inc. 0.04% 756 $236K New
PM Philip Morris International 0.04% 3,924 $230K No change
VEU Vanguard Ftse All-World Ex-U 0.04% 3,351 $225K New
SPSB SS SPDR P St C Corp. ETF 0.04% 7,488 $219K Reduce -3.3%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.04% 2,400 $219K No change
C Citigroup Inc. 0.04% 2,514 $214K New
PG The Procter & Gamble Co. 0.04% 1,310 $209K Reduce -0.8%

Portfolio Sells Q1 2025 → Q2 2025
FLRN SS SPDR BB Ig Float RT ETF Reduce -7.8% 3.53% −0.55
SCHZ Schwab US Aggregate Bond ETF Reduce -5.7% 4.26% −0.53
FLOT iShares Floating Rate Bond E Reduce -4.4% 4.60% −0.53
AGG iShares Core U.S. Aggregate Reduce -1.3% 5.46% −0.41
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -1.6% 4.78% −0.28
EMB iShares JP Morgan Usd Emergi Reduce -2.8% 3.14% −0.22
AAPL Apple Inc. Reduce -0.3% 1.29% −0.20
SCHD Schwab US DVD Equity ETF Reduce -4.5% 0.94% −0.17
SPAB SS SPDR P Agg Bond ETF Reduce -3.3% 1.59% −0.16
PCY Invesco Emerging Markets Sov Reduce -2.4% 0.96% −0.07
SHYG iShares 0-5 YR HY Corp. Bond Reduce -0.0% 1.09% −0.05
REZI Resideo Technologies Inc. Sold out 0.00% −0.05
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.04
IFLN Invesco Bloomberg Enhanced F Reduce -0.9% 0.76% −0.04
SPYD SS SPDR P S&P 500 Hi Div ETF Reduce -1.9% 0.26% −0.03
MRK Merck & Co. Inc. Reduce -0.2% 0.13% −0.03
SCHO Schwab Short-Term US Treas Reduce -0.3% 0.20% −0.01
SPEM State Street SP PTF Em ETF Reduce -3.2% 0.95% −0.01
COKE Coca-Cola Consolidated Inc. Reduce -90.0% 0.11% −0.01
HD Home Depot Inc. Reduce -0.3% 0.12% −0.01
CL Colgate-Palmolive Co. Reduce -0.1% 0.08% −0.01
IWD iShares Russell 1000 Value E Reduce -4.8% 0.08% −0.01
PG The Procter & Gamble Co. Reduce -0.8% 0.04% −0.01
AMCA iShares Russell 1000 US Rev Reduce -13.3% 0.05% −0.01
SPSB SS SPDR P St C Corp. ETF Reduce -3.3% 0.04% −0.00
JPM JPMorgan Chase & Co. Reduce -8.4% 0.23% +0.00
VTI VG Morningstar TS MKT ETF-US Reduce -1.1% 0.14% +0.00
IBM Intl Business Machines Corp. Reduce -0.1% 0.11% +0.01
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -2.1% 2.81% +0.01
SPDW Ste STR SPDR PT DW Eu ETF Reduce -1.4% 0.90% +0.03
IWF iShares Russell 1000 Growth Reduce -1.7% 0.55% +0.04
NVDA Nvidia Corp. Reduce -2.0% 0.20% +0.05
IEMG iShares Core MSCI Emerging Reduce -1.4% 3.21% +0.09

Portfolio Buys Q1 2025 → Q2 2025
IVV iShares Core S&P 500 ETF Add +3.7% 9.68% +0.70
SCHX Schwab US Large-Cap ETF Add +3.4% 9.95% +0.69
SCHA Schwab US Small-Cap ETF Add +10.9% 1.91% +0.21
SCHF Schwab Intl Equity ETF Add +0.9% 3.39% +0.19
IJR iShares Core S&P Small-Cap E Add +10.8% 2.14% +0.17
IEFA iShares Core MSCI Eafe ETF Add +1.0% 3.82% +0.17
SPYM Ste STR SPDR PT S&P 500 ETF Add +3.2% 2.31% +0.15
IJH iShares Core S&P Midcap ETF Add +7.6% 2.15% +0.15
ITOT iShares Core S&P Total U.S. Add +6.8% 1.44% +0.14
SCHB Schwab US Broad Market ETF Add +4.1% 1.82% +0.14
SPY SS SPDR S&P 500 ETF Trust-US Add +4.8% 1.68% +0.14
SCHM Schwab US Mid Cap ETF Add +6.7% 1.95% +0.13
MSFT Microsoft Corp. Add +2.2% 0.57% +0.12
UNH Unitedhealth Group Inc. New 0.04% +0.04
VEU Vanguard Ftse All-World Ex-U New 0.04% +0.04
C Citigroup Inc. New 0.04% +0.04
SPSM SS SPDR P S&P 600 Small Cap Add +10.4% 0.43% +0.03
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +6.6% 2.71% +0.03
AMZN Amazon.com Inc. Add +7.0% 0.18% +0.02
SPMD SS SPDR P S&P 400 Midcap ETF Add +5.5% 0.44% +0.02
QQQ Invesco QQQ Trust Series 1 Add +0.6% 0.17% +0.02
SPTM SS SPDR P S&P 1500 Comp ETF Add +2.9% 0.29% +0.02
VIG Vanguard Dividend Apprec ETF Add +12.1% 0.11% +0.01
VZ Verizon Communications Inc. Add +0.2% 0.04% −0.01
NEE Nextera Energy Inc. Add +0.5% 0.06% −0.01
SPIB SS SPDR P Int C Corp. ETF Add +4.8% 1.06% −0.01
T AT&T Inc. Add +0.1% 0.14% −0.01
SHY iShares 1-3 Year Treasury Bo Add +1.3% 0.23% −0.01
DGRO iShares Core Dividend Growth Add +0.2% 0.88% −0.02
JNJ Johnson & Johnson Add +0.3% 0.18% −0.03
TFI SS SPDR N Ice Muni Bond ETF Add +0.8% 0.61% −0.04
CORP PIMCO Inv Grade Corp. BD ETF Add +1.9% 1.91% −0.07
MUB iShares National Muni Bond E Add +0.9% 2.29% −0.15

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