Towercrest Capital Management

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Towercrest Capital Management reported 98 stock positions worth $634.3 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 10.7% of the portfolio, followed by Schwab US Large-Cap ETF (SCHX, 9.4%) and iShares Core U.S. Aggregate (AGG, 6.0%). Compared with Q3 2025, it opened 2 new positions, sold out of 3, added to 28 and reduced 42. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +58%) and the biggest sale PIMCO Inv Grade Corp. BD ETF (CORP, shares −80%).

Most Recent 13F
Q2 2026
Location
NEWTOWN, PA
CIK
0001633288
Portfolio Value
$634.3M (Q4 2025)
SEC Filing
0001633288-26-000001 ↗ filed Jan 21, 2026

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 Q3 2025 Q4 2025: $634.3M $634.3M Q4 2025 Q1 2026: $641.8M Q1 2026 Q2 2026: $717.4M Q2 2026

Holdings 98 stocks · $634.3M
IVV iShares Core S&P 500 ETF 10.73% 99,339 $68.1M Add +2.7%
SCHX Schwab US Large-Cap ETF 9.39% 2,212,231 $59.5M Reduce -1.5%
AGG iShares Core U.S. Aggregate 6.03% 382,609 $38.2M Add +10.7%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 5.63% 442,486 $35.7M Add +25.2%
FLOT iShares Floating Rate Bond E 4.51% 562,898 $28.6M Add +0.9%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 4.20% 241,954 $26.7M Add +58.4%
IEFA iShares Core MSCI Eafe ETF 4.01% 283,986 $25.4M Add +3.1%
SCHZ Schwab US Aggregate Bond ETF 3.75% 1,018,851 $23.8M Reduce -4.2%
IEMG iShares Core MSCI Emerging 3.36% 316,691 $21.3M Reduce -1.3%
EMB iShares JP Morgan Usd Emergi 3.24% 213,349 $20.5M Add +5.3%
FLRN SS SPDR BB Ig Float RT ETF 3.16% 651,222 $20.0M Reduce -2.1%
SCHF Schwab Intl Equity ETF 3.07% 810,666 $19.5M Reduce -1.3%
SCHE Schwab Emrg Mrkts Eqty ETF 2.49% 482,441 $15.8M Reduce -5.1%
IJH iShares Core S&P Midcap ETF 2.29% 220,094 $14.5M Add +2.4%
MUB iShares National Muni Bond E 2.27% 134,296 $14.4M Add +3.5%
SPYM Ste STR SPDR PT S&P 500 ETF 2.14% 169,228 $13.6M Reduce -2.0%
IJR iShares Core S&P Small-Cap E 1.85% 97,535 $11.7M Reduce -11.9%
SCHM Schwab US Mid Cap ETF 1.80% 380,277 $11.4M Reduce -1.6%
SCHB Schwab US Broad Market ETF 1.69% 408,391 $10.7M Reduce -2.1%
SPY SS SPDR S&P 500 ETF Trust-US 1.59% 14,799 $10.1M Reduce -2.1%
SPAB SS SPDR P Agg Bond ETF 1.55% 380,856 $9.8M Add +2.9%
ITOT iShares Core S&P Total U.S. 1.50% 63,972 $9.5M Add +0.2%
AAPL Apple Inc. 1.43% 33,354 $9.1M Reduce -2.0%
SCHA Schwab US Small-Cap ETF 1.42% 315,966 $9.0M Reduce -15.6%
SHYG iShares 0-5 YR HY Corp. Bond 1.11% 163,518 $7.0M Add +10.5%
SPIB SS SPDR P Int C Corp. ETF 1.00% 187,582 $6.3M Add +1.2%
SCHD Schwab US DVD Equity ETF 0.93% 214,553 $5.9M Reduce -0.1%
DGRO iShares Core Dividend Growth 0.93% 84,664 $5.9M Add +1.5%
SPEM State Street SP PTF Em ETF 0.85% 114,589 $5.4M Reduce -5.0%
PCY Invesco Emerging Markets Sov 0.82% 241,373 $5.2M Reduce -11.0%
SPDW Ste STR SPDR PT DW Eu ETF 0.81% 115,195 $5.1M Reduce -2.6%
CL Colgate-Palmolive Co. 0.80% 63,888 $5.0M Reduce -0.4%
MSFT Microsoft Corp. 0.55% 7,221 $3.5M Reduce -0.8%
IWF iShares Russell 1000 Growth 0.54% 7,201 $3.4M No change
SCHG Schwab US Large-Cap Growth 0.53% 102,171 $3.3M Reduce -0.0%
TFI SS SPDR N Ice Muni Bond ETF 0.52% 71,770 $3.3M Reduce -9.6%
SPMD SS SPDR P S&P 400 Midcap ETF 0.40% 43,716 $2.5M Reduce -1.9%
CORP PIMCO Inv Grade Corp. BD ETF 0.35% 22,932 $2.2M Reduce -79.8%
SPSM SS SPDR P S&P 600 Small Cap 0.32% 43,343 $2.0M Reduce -14.8%
QQQ Invesco QQQ Trust Series 1 0.31% 3,193 $2.0M Add +37.3%
GOOG Alphabet Inc. Class C 0.30% 6,059 $1.9M Reduce -1.2%
SPTM SS SPDR P S&P 1500 Comp ETF 0.26% 19,817 $1.6M Reduce -4.5%
SHY iShares 1-3 Year Treasury Bo 0.26% 19,560 $1.6M Add +7.1%
SPYD SS SPDR P S&P 500 Hi Div ETF 0.25% 37,242 $1.6M Reduce -0.4%
NVDA Nvidia Corp. 0.25% 8,563 $1.6M Reduce -0.5%
JNJ Johnson & Johnson 0.24% 7,330 $1.5M Reduce -0.3%
JPM JPMorgan Chase & Co. 0.21% 4,204 $1.4M Reduce -1.5%
GOOGL Alphabet Inc. Class A 0.21% 4,309 $1.3M Add +0.6%
RSP Invesco S&P 500 Equal Weight 0.21% 6,989 $1.3M No change
META Meta Platforms Inc. Class A 0.20% 1,957 $1.3M Reduce -0.6%
SCHO Schwab Short-Term US Treas 0.19% 50,051 $1.2M Add +3.2%
AMZN Amazon.com Inc. 0.19% 5,131 $1.2M Reduce -0.6%
VUG Vanguard Mrngstar GR ETF-Sui 0.18% 2,356 $1.1M Add +7.5%
VOO Vanguard S&P 500 ETF 0.17% 1,685 $1.1M Reduce -3.8%
V Visa Inc. Class A 0.15% 2,797 $981K No change
MRK Merck & Co. Inc. 0.15% 9,246 $973K Add +0.5%
CSCO Cisco Systems Inc. 0.13% 10,391 $800K Add +6.1%
T AT&T Inc. 0.12% 29,389 $730K Add +0.7%
SCHV Schwab US Large-Cap Value 0.11% 24,237 $718K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.11% 12,875 $708K No change
HD Home Depot Inc. 0.10% 1,924 $662K No change
VIG Vanguard Dividend Apprec ETF 0.10% 3,001 $659K No change
COKE Coca-Cola Consolidated Inc. 0.10% 9,240 $646K Add +1.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.10% 2,136 $633K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.10% 3,187 $609K Reduce -0.7%
VTI VG Morningstar TS MKT ETF-US 0.09% 1,738 $583K Reduce -33.9%
FBND Fidelity Total Bond ETF 0.09% 12,636 $582K Add +19.0%
ORCL Oracle Corp. 0.08% 2,498 $487K Reduce -0.5%
AVGO Broadcom Inc. 0.08% 1,390 $481K No change
IWD iShares Russell 1000 Value E 0.07% 2,235 $470K No change
WMT Walmart Inc. 0.07% 4,156 $463K No change
DFUS Dimensional US Eq MKT ETF 0.07% 5,721 $424K No change
NEE Nextera Energy Inc. 0.06% 4,998 $401K Reduce -15.8%
IFLN Invesco Bloomberg Enhanced F 0.06% 20,810 $387K Reduce -91.1%
LIN Linde PLC 0.06% 893 $381K No change
CVX Chevron Corp. 0.06% 2,498 $381K No change
TSLA Tesla Inc. 0.06% 798 $359K Reduce -11.3%
BRK.B Berkshire Hathaway Inc. Class B 0.06% 699 $351K Reduce -2.9%
C Citigroup Inc. 0.05% 2,939 $343K Reduce -14.5%
TT Trane Technologies PLC 0.05% 871 $339K New
VT Vanguard Tot World STK ETF 0.05% 2,365 $334K Add +0.3%
IWP iShares Russell Mid-Cap Grow 0.05% 2,360 $323K No change
NFLX Netflix Inc. 0.05% 3,420 $321K Add +29.6%
LLY Eli Lilly & Co. 0.05% 294 $316K No change
COST Costco Wholesale Corp. 0.05% 365 $314K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.05% 2,575 $299K No change
PEG Public Service Enterprise GP 0.05% 3,652 $293K No change
GE AEROSPACE 0.04% 856 $264K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 2,283 $260K No change
LVS Las Vegas Sands Corp. 0.04% 3,850 $251K No change
UNH Unitedhealth Group Inc. 0.04% 745 $246K Reduce -3.3%
SPSB SS SPDR P St C Corp. ETF 0.04% 8,063 $236K Add +3.4%
VZ Verizon Communications Inc. 0.04% 5,763 $235K Add +0.5%
PM Philip Morris International 0.04% 3,924 $226K No change
AMCA iShares Russell 1000 US Rev 0.03% 590 $220K No change
VXF Vanguard Extended Market ETF 0.03% 1,011 $211K No change
PNC PNC Financial Services Group 0.03% 978 $204K New
HSY The Hershey Co. 0.03% 1,100 $200K No change

Portfolio Sells Q3 2025 → Q4 2025
CORP PIMCO Inv Grade Corp. BD ETF Reduce -79.8% 0.35% −1.44
IFLN Invesco Bloomberg Enhanced F Reduce -91.1% 0.06% −0.63
IJR iShares Core S&P Small-Cap E Reduce -11.9% 1.85% −0.26
SCHA Schwab US Small-Cap ETF Reduce -15.6% 1.42% −0.26
SCHZ Schwab US Aggregate Bond ETF Reduce -4.2% 3.75% −0.25
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -5.1% 2.49% −0.23
FLRN SS SPDR BB Ig Float RT ETF Reduce -2.1% 3.16% −0.14
PCY Invesco Emerging Markets Sov Reduce -11.0% 0.82% −0.11
SCHX Schwab US Large-Cap ETF Reduce -1.5% 9.39% −0.10
TFI SS SPDR N Ice Muni Bond ETF Reduce -9.6% 0.52% −0.06
SPEM State Street SP PTF Em ETF Reduce -5.0% 0.85% −0.06
SPSM SS SPDR P S&P 600 Small Cap Reduce -14.8% 0.32% −0.06
MSFT Microsoft Corp. Reduce -0.8% 0.55% −0.05
VTI VG Morningstar TS MKT ETF-US Reduce -33.9% 0.09% −0.05
ABBV Abbvie Inc. Sold out 0.00% −0.04
IEMG iShares Core MSCI Emerging Reduce -1.3% 3.36% −0.04
ORCL Oracle Corp. Reduce -0.5% 0.08% −0.04
SCHM Schwab US Mid Cap ETF Reduce -1.6% 1.80% −0.03
VEU Vanguard Ftse All-World Ex-U Sold out 0.00% −0.03
PG The Procter & Gamble Co. Sold out 0.00% −0.03
SCHB Schwab US Broad Market ETF Reduce -2.1% 1.69% −0.03
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -2.0% 2.14% −0.03
META Meta Platforms Inc. Class A Reduce -0.6% 0.20% −0.03
CL Colgate-Palmolive Co. Reduce -0.4% 0.80% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.1% 1.59% −0.02
SCHD Schwab US DVD Equity ETF Reduce -0.1% 0.93% −0.01
SPTM SS SPDR P S&P 1500 Comp ETF Reduce -4.5% 0.26% −0.01
SPYD SS SPDR P S&P 500 Hi Div ETF Reduce -0.4% 0.25% −0.01
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -1.9% 0.40% −0.01
NEE Nextera Energy Inc. Reduce -15.8% 0.06% −0.01
TSLA Tesla Inc. Reduce -11.3% 0.06% −0.01
NVDA Nvidia Corp. Reduce -0.5% 0.25% −0.01
VOO Vanguard S&P 500 ETF Reduce -3.8% 0.17% −0.01
SPDW Ste STR SPDR PT DW Eu ETF Reduce -2.6% 0.81% −0.01
UNH Unitedhealth Group Inc. Reduce -3.3% 0.04% −0.00
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.9% 0.06% −0.00
JPM JPMorgan Chase & Co. Reduce -1.5% 0.21% −0.00
C Citigroup Inc. Reduce -14.5% 0.05% −0.00
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.7% 0.10% 0.00
SCHG Schwab US Large-Cap Growth Reduce -0.0% 0.53% +0.00
AMZN Amazon.com Inc. Reduce -0.6% 0.19% +0.00
SCHF Schwab Intl Equity ETF Reduce -1.3% 3.07% +0.01
JNJ Johnson & Johnson Reduce -0.3% 0.24% +0.02
AAPL Apple Inc. Reduce -2.0% 1.43% +0.04
GOOG Alphabet Inc. Class C Reduce -1.2% 0.30% +0.06

Portfolio Buys Q3 2025 → Q4 2025
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +58.4% 4.20% +1.47
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +25.2% 5.63% +1.02
AGG iShares Core U.S. Aggregate Add +10.7% 6.03% +0.47
IVV iShares Core S&P 500 ETF Add +2.7% 10.73% +0.34
IEFA iShares Core MSCI Eafe ETF Add +3.1% 4.01% +0.15
EMB iShares JP Morgan Usd Emergi Add +5.3% 3.24% +0.15
QQQ Invesco QQQ Trust Series 1 Add +37.3% 0.31% +0.09
SHYG iShares 0-5 YR HY Corp. Bond Add +10.5% 1.11% +0.08
TT Trane Technologies PLC New 0.05% +0.05
MUB iShares National Muni Bond E Add +3.5% 2.27% +0.05
GOOGL Alphabet Inc. Class A Add +0.6% 0.21% +0.05
IJH iShares Core S&P Midcap ETF Add +2.4% 2.29% +0.04
PNC PNC Financial Services Group New 0.03% +0.03
MRK Merck & Co. Inc. Add +0.5% 0.15% +0.03
CSCO Cisco Systems Inc. Add +6.1% 0.13% +0.02
DGRO iShares Core Dividend Growth Add +1.5% 0.93% +0.02
FBND Fidelity Total Bond ETF Add +19.0% 0.09% +0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +7.5% 0.18% +0.01
SHY iShares 1-3 Year Treasury Bo Add +7.1% 0.26% +0.01
SPAB SS SPDR P Agg Bond ETF Add +2.9% 1.55% +0.01
ITOT iShares Core S&P Total U.S. Add +0.2% 1.50% +0.01
COKE Coca-Cola Consolidated Inc. Add +1.1% 0.10% +0.00
SCHO Schwab Short-Term US Treas Add +3.2% 0.19% +0.00
SPSB SS SPDR P St C Corp. ETF Add +3.4% 0.04% +0.00
VT Vanguard Tot World STK ETF Add +0.3% 0.05% +0.00
NFLX Netflix Inc. Add +29.6% 0.05% −0.00
VZ Verizon Communications Inc. Add +0.5% 0.04% −0.00
SPIB SS SPDR P Int C Corp. ETF Add +1.2% 1.00% −0.01
T AT&T Inc. Add +0.7% 0.12% −0.02
FLOT iShares Floating Rate Bond E Add +0.9% 4.51% −0.06

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