Towercrest Capital Management

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Towercrest Capital Management reported 99 stock positions worth $623.4 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 10.4% of the portfolio, followed by Schwab US Large-Cap ETF (SCHX, 9.5%) and iShares Core U.S. Aggregate (AGG, 5.6%). Compared with Q2 2025, it opened 10 new positions, added to 56 and reduced 21. The biggest buy was Colgate-Palmolive (CL, shares +1244%) and the biggest sale Schwab US Large-Cap ETF (SCHX, shares −2%).

Most Recent 13F
Q2 2026
Location
NEWTOWN, PA
CIK
0001633288
Portfolio Value
$623.4M (Q3 2025)
SEC Filing
0001633288-25-000005 ↗ filed Oct 24, 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 Q2 2025 Q3 2025: $623.4M $623.4M Q3 2025 Q4 2025: $634.3M Q4 2025 Q1 2026: $641.8M Q1 2026 Q2 2026: $717.4M Q2 2026

Holdings 99 stocks · $623.4M
IVV iShares Core S&P 500 ETF 10.39% 96,751 $64.8M Add +10.9%
SCHX Schwab US Large-Cap ETF 9.49% 2,244,984 $59.1M Reduce -1.6%
AGG iShares Core U.S. Aggregate 5.56% 345,590 $34.6M Add +12.0%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 4.60% 353,515 $28.7M Add +6.5%
FLOT iShares Floating Rate Bond E 4.57% 557,715 $28.5M Add +10.5%
SCHZ Schwab US Aggregate Bond ETF 4.01% 1,063,942 $25.0M Add +3.5%
IEFA iShares Core MSCI Eafe ETF 3.86% 275,414 $24.0M Add +7.3%
IEMG iShares Core MSCI Emerging 3.39% 320,900 $21.2M Add +7.2%
FLRN SS SPDR BB Ig Float RT ETF 3.29% 665,312 $20.5M Add +3.8%
EMB iShares JP Morgan Usd Emergi 3.09% 202,519 $19.3M Add +6.6%
SCHF Schwab Intl Equity ETF 3.07% 821,253 $19.1M Reduce -4.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.73% 152,763 $17.0M Add +10.2%
SCHE Schwab Emrg Mrkts Eqty ETF 2.72% 508,541 $17.0M Reduce -2.5%
IJH iShares Core S&P Midcap ETF 2.25% 214,852 $14.0M Add +10.6%
MUB iShares National Muni Bond E 2.22% 129,702 $13.8M Add +5.7%
SPYM Ste STR SPDR PT S&P 500 ETF 2.17% 172,673 $13.5M Reduce -2.9%
IJR iShares Core S&P Small-Cap E 2.11% 110,655 $13.1M Add +1.1%
SCHM Schwab US Mid Cap ETF 1.84% 386,252 $11.4M Reduce -0.6%
CORP PIMCO Inv Grade Corp. BD ETF 1.80% 113,646 $11.2M Add +3.2%
SCHB Schwab US Broad Market ETF 1.72% 417,227 $10.7M Reduce -2.6%
SCHA Schwab US Small-Cap ETF 1.68% 374,311 $10.4M Reduce -11.6%
SPY SS SPDR S&P 500 ETF Trust-US 1.62% 15,113 $10.1M Reduce -0.7%
SPAB SS SPDR P Agg Bond ETF 1.54% 370,223 $9.6M Add +6.2%
ITOT iShares Core S&P Total U.S. 1.49% 63,823 $9.3M Add +7.0%
AAPL Apple Inc. 1.39% 34,031 $8.7M Reduce -3.3%
SHYG iShares 0-5 YR HY Corp. Bond 1.03% 147,977 $6.4M Add +4.3%
SPIB SS SPDR P Int C Corp. ETF 1.01% 185,429 $6.3M Add +4.7%
SCHD Schwab US DVD Equity ETF 0.94% 214,820 $5.9M Add +8.2%
PCY Invesco Emerging Markets Sov 0.94% 271,342 $5.9M Add +2.5%
DGRO iShares Core Dividend Growth 0.91% 83,382 $5.7M Add +8.6%
SPEM State Street SP PTF Em ETF 0.91% 120,602 $5.6M Reduce -3.4%
CL Colgate-Palmolive Co. 0.82% 64,117 $5.1M Add +1243.6%
SPDW Ste STR SPDR PT DW Eu ETF 0.81% 118,246 $5.1M Reduce -5.3%
IFLN Invesco Bloomberg Enhanced F 0.70% 233,263 $4.3M Add +1.5%
MSFT Microsoft Corp. 0.60% 7,280 $3.8M Add +12.6%
TFI SS SPDR N Ice Muni Bond ETF 0.58% 79,411 $3.6M Add +4.3%
IWF iShares Russell 1000 Growth 0.54% 7,201 $3.4M No change
SCHG Schwab US Large-Cap Growth 0.52% 102,194 $3.3M Reduce -0.0%
SPMD SS SPDR P S&P 400 Midcap ETF 0.41% 44,561 $2.5M Reduce -1.4%
SPSM SS SPDR P S&P 600 Small Cap 0.38% 50,846 $2.4M Reduce -9.7%
SPTM SS SPDR P S&P 1500 Comp ETF 0.27% 20,755 $1.7M Reduce -4.7%
SPYD SS SPDR P S&P 500 Hi Div ETF 0.26% 37,393 $1.6M Add +10.1%
NVDA Nvidia Corp. 0.26% 8,609 $1.6M Add +19.3%
SHY iShares 1-3 Year Treasury Bo 0.24% 18,263 $1.5M Add +16.2%
GOOG Alphabet Inc. Class C 0.24% 6,130 $1.5M Add +55.4%
META Meta Platforms Inc. Class A 0.23% 1,968 $1.4M Add +49.1%
QQQ Invesco QQQ Trust Series 1 0.22% 2,326 $1.4M Add +31.3%
JNJ Johnson & Johnson 0.22% 7,353 $1.4M Add +13.5%
JPM JPMorgan Chase & Co. 0.22% 4,269 $1.3M Reduce -2.5%
RSP Invesco S&P 500 Equal Weight 0.21% 6,989 $1.3M No change
SCHO Schwab Short-Term US Treas 0.19% 48,480 $1.2M Add +6.0%
AMZN Amazon.com Inc. 0.18% 5,164 $1.1M Add +12.2%
VOO Vanguard S&P 500 ETF 0.17% 1,752 $1.1M Add +84.4%
VUG Vanguard Mrngstar GR ETF-Sui 0.17% 2,191 $1.1M No change
GOOGL Alphabet Inc. Class A 0.17% 4,284 $1.0M Add +126.2%
V Visa Inc. Class A 0.15% 2,797 $955K Add +33.4%
VTI VG Morningstar TS MKT ETF-US 0.14% 2,630 $863K Reduce -1.4%
T AT&T Inc. 0.13% 29,191 $824K Add +5.5%
HD Home Depot Inc. 0.13% 1,924 $780K Add +2.7%
MRK Merck & Co. Inc. 0.12% 9,201 $772K Add +0.8%
ORCL Oracle Corp. 0.11% 2,511 $706K Add +0.5%
SCHV Schwab US Large-Cap Value 0.11% 24,237 $706K No change
CSCO Cisco Systems Inc. 0.11% 9,791 $670K Add +44.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.11% 12,875 $664K Add +7.1%
VIG Vanguard Dividend Apprec ETF 0.10% 3,001 $648K No change
COKE Coca-Cola Consolidated Inc. 0.10% 9,140 $606K Add +7.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.10% 2,136 $603K Add +2.4%
VTV Vanguard Mrngstr Val ETF-Aui 0.10% 3,208 $598K No change
FBND Fidelity Total Bond ETF 0.08% 10,616 $491K No change
AVGO Broadcom Inc. 0.07% 1,390 $459K New
IWD iShares Russell 1000 Value E 0.07% 2,235 $455K No change
NEE Nextera Energy Inc. 0.07% 5,936 $448K Add +15.9%
WMT Walmart Inc. 0.07% 4,156 $428K Add +6.5%
LIN Linde PLC 0.07% 893 $424K New
DFUS Dimensional US Eq MKT ETF 0.07% 5,721 $414K No change
TSLA Tesla Inc. 0.06% 900 $400K New
CVX Chevron Corp. 0.06% 2,498 $388K Add +4.1%
BRK.B Berkshire Hathaway Inc. Class B 0.06% 720 $362K New
C Citigroup Inc. 0.06% 3,439 $349K Add +36.8%
COST Costco Wholesale Corp. 0.05% 365 $337K Add +4.9%
IWP iShares Russell Mid-Cap Grow 0.05% 2,360 $336K No change
VT Vanguard Tot World STK ETF 0.05% 2,358 $325K Reduce -7.4%
NFLX Netflix Inc. 0.05% 264 $317K Add +10.9%
PEG Public Service Enterprise GP 0.05% 3,652 $305K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.04% 2,575 $281K Add +7.3%
UNH Unitedhealth Group Inc. 0.04% 770 $266K Add +1.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 2,283 $261K Reduce -0.7%
PM Philip Morris International 0.04% 3,924 $259K No change
GE AEROSPACE 0.04% 856 $258K New
VZ Verizon Communications Inc. 0.04% 5,736 $252K Add +0.2%
ABBV Abbvie Inc. 0.04% 1,011 $234K New
SPSB SS SPDR P St C Corp. ETF 0.04% 7,800 $229K Add +4.2%
LLY Eli Lilly & Co. 0.04% 294 $224K New
AMCA iShares Russell 1000 US Rev 0.03% 590 $216K Reduce -24.8%
VXF Vanguard Extended Market ETF 0.03% 1,011 $212K New
VEU Vanguard Ftse All-World Ex-U 0.03% 2,925 $209K Reduce -12.7%
LVS Las Vegas Sands Corp. 0.03% 3,850 $207K New
HSY The Hershey Co. 0.03% 1,100 $206K New
PG The Procter & Gamble Co. 0.03% 1,334 $205K Add +1.8%

Portfolio Sells Q2 2025 → Q3 2025
SCHX Schwab US Large-Cap ETF Reduce -1.6% 9.49% −0.46
SCHF Schwab Intl Equity ETF Reduce -4.4% 3.07% −0.32
SCHA Schwab US Small-Cap ETF Reduce -11.6% 1.68% −0.24
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -2.9% 2.17% −0.14
SCHM Schwab US Mid Cap ETF Reduce -0.6% 1.84% −0.11
SCHB Schwab US Broad Market ETF Reduce -2.6% 1.72% −0.10
SPDW Ste STR SPDR PT DW Eu ETF Reduce -5.3% 0.81% −0.09
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -2.5% 2.72% −0.08
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.7% 1.62% −0.06
SPSM SS SPDR P S&P 600 Small Cap Reduce -9.7% 0.38% −0.05
SPEM State Street SP PTF Em ETF Reduce -3.4% 0.91% −0.05
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -1.4% 0.41% −0.03
SPTM SS SPDR P S&P 1500 Comp ETF Reduce -4.7% 0.27% −0.02
AMCA iShares Russell 1000 US Rev Reduce -24.8% 0.03% −0.01
JPM JPMorgan Chase & Co. Reduce -2.5% 0.22% −0.01
SCHG Schwab US Large-Cap Growth Reduce -0.0% 0.52% −0.01
DIS The Walt Disney Co. Reduce -0.7% 0.04% −0.01
VEU Vanguard Ftse All-World Ex-U Reduce -12.7% 0.03% −0.01
VT Vanguard Tot World STK ETF Reduce -7.4% 0.05% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -1.4% 0.14% −0.01
AAPL Apple Inc. Reduce -3.3% 1.39% +0.10

Portfolio Buys Q2 2025 → Q3 2025
CL Colgate-Palmolive Co. Add +1243.6% 0.82% +0.74
IVV iShares Core S&P 500 ETF Add +10.9% 10.39% +0.71
IEMG iShares Core MSCI Emerging Add +7.2% 3.39% +0.19
GOOG Alphabet Inc. Class C Add +55.4% 0.24% +0.11
GOOGL Alphabet Inc. Class A Add +126.2% 0.17% +0.11
IJH iShares Core S&P Midcap ETF Add +10.6% 2.25% +0.10
AGG iShares Core U.S. Aggregate Add +12.0% 5.56% +0.09
VOO Vanguard S&P 500 ETF Add +84.4% 0.17% +0.08
AVGO Broadcom Inc. New 0.07% +0.07
LIN Linde PLC New 0.07% +0.07
TSLA Tesla Inc. New 0.06% +0.06
BRK.B Berkshire Hathaway Inc. Class B New 0.06% +0.06
META Meta Platforms Inc. Class A Add +49.1% 0.23% +0.06
NVDA Nvidia Corp. Add +19.3% 0.26% +0.05
ITOT iShares Core S&P Total U.S. Add +7.0% 1.49% +0.05
QQQ Invesco QQQ Trust Series 1 Add +31.3% 0.22% +0.05
JNJ Johnson & Johnson Add +13.5% 0.22% +0.04
GE AEROSPACE New 0.04% +0.04
ABBV Abbvie Inc. New 0.04% +0.04
LLY Eli Lilly & Co. New 0.04% +0.04
DGRO iShares Core Dividend Growth Add +8.6% 0.91% +0.03
VXF Vanguard Extended Market ETF New 0.03% +0.03
LVS Las Vegas Sands Corp. New 0.03% +0.03
HSY The Hershey Co. New 0.03% +0.03
IEFA iShares Core MSCI Eafe ETF Add +7.3% 3.86% +0.03
MSFT Microsoft Corp. Add +12.6% 0.60% +0.03
CSCO Cisco Systems Inc. Add +44.9% 0.11% +0.02
V Visa Inc. Class A Add +33.4% 0.15% +0.02
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +10.2% 2.73% +0.02
C Citigroup Inc. Add +36.8% 0.06% +0.02
ORCL Oracle Corp. Add +0.5% 0.11% +0.02
SHY iShares 1-3 Year Treasury Bo Add +16.2% 0.24% +0.01
NEE Nextera Energy Inc. Add +15.9% 0.07% +0.01
SPYD SS SPDR P S&P 500 Hi Div ETF Add +10.1% 0.26% +0.01
BNY Bank of New York Mellon Corp. Add +7.3% 0.04% +0.01
BAC Bank of America Corp. Add +7.1% 0.11% +0.01
HD Home Depot Inc. Add +2.7% 0.13% +0.00
AMZN Amazon.com Inc. Add +12.2% 0.18% +0.00
SCHD Schwab US DVD Equity ETF Add +8.2% 0.94% +0.00
CVX Chevron Corp. Add +4.1% 0.06% +0.00
UNH Unitedhealth Group Inc. Add +1.9% 0.04% +0.00
WMT Walmart Inc. Add +6.5% 0.07% +0.00
SPSB SS SPDR P St C Corp. ETF Add +4.2% 0.04% −0.00
VZ Verizon Communications Inc. Add +0.2% 0.04% −0.00
PG The Procter & Gamble Co. Add +1.8% 0.03% −0.00
MRK Merck & Co. Inc. Add +0.8% 0.12% −0.01
NFLX Netflix Inc. Add +10.9% 0.05% −0.01
COST Costco Wholesale Corp. Add +4.9% 0.05% −0.01
SCHO Schwab Short-Term US Treas Add +6.0% 0.19% −0.01
COKE Coca-Cola Consolidated Inc. Add +7.1% 0.10% −0.01

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