Twele Capital Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 16, 2025), Twele Capital Management, Inc. reported 39 stock positions worth $541.9 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.7% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 10.8%) and Vanguard Total Bond Market (BND, 9.6%). Compared with Q2 2025, it added to 25 and reduced 11. The biggest buy was iShares Broad Usd High Yield (USHY, shares +118%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- MINNETONKA, MN
- CIK
- 0001411268
- Portfolio Value
- $541.9M (Q3 2025)
- SEC Filing
- 0001411268-25-000009 ↗ filed Oct 16, 2025
Holdings Value
Holdings 39 stocks · $541.9M
| IVV iShares Core S&P 500 ETF | 11.67% | 94,488 | $63.2M | Reduce -1.5% |
| VOO Vanguard S&P 500 ETF | 10.84% | 95,935 | $58.7M | Reduce -1.4% |
| BND Vanguard Total Bond Market | 9.56% | 696,668 | $51.8M | Add +7.3% |
| IEF iShares 7-10 Year Treasury B | 8.44% | 473,893 | $45.7M | Add +8.6% |
| AGG iShares Core U.S. Aggregate | 8.28% | 447,643 | $44.9M | Add +7.6% |
| VYM Vanguard High DVD Yield ETF | 7.71% | 296,573 | $41.8M | Add +1.9% |
| IEFA iShares Core MSCI Eafe ETF | 4.78% | 296,566 | $25.9M | Add +1.4% |
| VEA Vanguard Ftse Developed ETF | 4.72% | 427,061 | $25.6M | Add +0.8% |
| IJH iShares Core S&P Midcap ETF | 4.52% | 375,647 | $24.5M | Add +0.1% |
| IJR iShares Core S&P Small-Cap E | 3.79% | 172,639 | $20.5M | Add +1.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 3.75% | 69,135 | $20.3M | Add +1.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 3.66% | 244,371 | $19.8M | Add +0.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 3.65% | 77,735 | $19.8M | Add +1.0% |
| IEMG iShares Core MSCI Emerging | 2.86% | 235,241 | $15.5M | Add +0.6% |
| VWO Vanguard Ftse Emerging Marke | 2.64% | 263,879 | $14.3M | Add +0.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 2.58% | 175,157 | $14.0M | Add +6.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 2.09% | 101,761 | $11.3M | Add +5.2% |
| USHY iShares Broad Usd High Yield | 0.65% | 92,768 | $3.5M | Add +117.6% |
| GOVT iShares US Treasury Bond ETF | 0.62% | 144,992 | $3.4M | Add +14.5% |
| IEI iShares 3-7 Year Treasury Bo | 0.36% | 16,209 | $1.9M | Add +0.1% |
| EFA iShares MSCI Eafe ETF | 0.34% | 20,012 | $1.9M | No change |
| SCHZ Schwab US Aggregate Bond ETF | 0.23% | 53,848 | $1.3M | Add +5.3% |
| MUB iShares National Muni Bond E | 0.22% | 11,078 | $1.2M | Add +20.5% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.22% | 23,482 | $1.2M | Reduce -32.2% |
| SCHX Schwab US Large-Cap ETF | 0.20% | 40,412 | $1.1M | Reduce -4.5% |
| SCHO Schwab Short-Term US Treas | 0.19% | 42,023 | $1.0M | Add +0.4% |
| SCHA Schwab US Small-Cap ETF | 0.16% | 31,566 | $881K | Reduce -1.3% |
| SCHF Schwab Intl Equity ETF | 0.16% | 37,816 | $880K | Reduce -1.4% |
| VCIT Vanguard Int-Term Corporate | 0.16% | 10,398 | $875K | Add +10.1% |
| SCHB Schwab US Broad Market ETF | 0.13% | 28,383 | $730K | Reduce -2.7% |
| IWF iShares Russell 1000 Growth | 0.13% | 1,549 | $726K | Reduce -0.3% |
| AAPL Apple Inc. | 0.12% | 2,641 | $672K | Add +0.0% |
| SCHM Schwab US Mid Cap ETF | 0.10% | 18,613 | $552K | Reduce -0.2% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.10% | 1,144 | $549K | Reduce -2.6% |
| SCHR Schwab Intermediate-Term US | 0.09% | 20,472 | $514K | Add +4.7% |
| SHY iShares 1-3 Year Treasury Bo | 0.08% | 4,975 | $413K | No change |
| DVY iShares Select Dividend ETF | 0.06% | 2,401 | $341K | Reduce -17.0% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.06% | 10,140 | $338K | No change |
| NVDA Nvidia Corp. | 0.05% | 1,494 | $279K | Add +12.0% |
Portfolio Sells Q2 2025 → Q3 2025
| IVV iShares Core S&P 500 ETF | Reduce -1.5% | 11.67% | −0.15 |
| VOO Vanguard S&P 500 ETF | Reduce -1.4% | 10.84% | −0.13 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -32.2% | 0.22% | −0.12 |
| DVY iShares Select Dividend ETF | Reduce -17.0% | 0.06% | −0.01 |
| SCHX Schwab US Large-Cap ETF | Reduce -4.5% | 0.20% | −0.01 |
| SCHF Schwab Intl Equity ETF | Reduce -1.4% | 0.16% | −0.01 |
| SCHB Schwab US Broad Market ETF | Reduce -2.7% | 0.13% | −0.00 |
| SCHM Schwab US Mid Cap ETF | Reduce -0.2% | 0.10% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -2.6% | 0.10% | −0.00 |
| SCHA Schwab US Small-Cap ETF | Reduce -1.3% | 0.16% | +0.00 |
| IWF iShares Russell 1000 Growth | Reduce -0.3% | 0.13% | +0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| USHY iShares Broad Usd High Yield | Add +117.6% | 0.65% | +0.33 |
| IEF iShares 7-10 Year Treasury B | Add +8.6% | 8.44% | +0.14 |
| IJR iShares Core S&P Small-Cap E | Add +1.4% | 3.79% | +0.10 |
| AGG iShares Core U.S. Aggregate | Add +7.6% | 8.28% | +0.09 |
| IEMG iShares Core MSCI Emerging | Add +0.6% | 2.86% | +0.08 |
| BND Vanguard Total Bond Market | Add +7.3% | 9.56% | +0.07 |
| VWO Vanguard Ftse Emerging Marke | Add +0.6% | 2.64% | +0.06 |
| GOVT iShares US Treasury Bond ETF | Add +14.5% | 0.62% | +0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +1.0% | 3.65% | +0.03 |
| MUB iShares National Muni Bond E | Add +20.5% | 0.22% | +0.03 |
| AAPL Apple Inc. | Add +0.0% | 0.12% | +0.02 |
| VYM Vanguard High DVD Yield ETF | Add +1.9% | 7.71% | +0.01 |
| NVDA Nvidia Corp. | Add +12.0% | 0.05% | +0.01 |
| VCIT Vanguard Int-Term Corporate | Add +10.1% | 0.16% | +0.01 |
| SCHR Schwab Intermediate-Term US | Add +4.7% | 0.09% | −0.00 |
| SCHZ Schwab US Aggregate Bond ETF | Add +5.3% | 0.23% | −0.00 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +5.2% | 2.09% | −0.01 |
| SCHO Schwab Short-Term US Treas | Add +0.4% | 0.19% | −0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +6.4% | 2.58% | −0.01 |
| IEI iShares 3-7 Year Treasury Bo | Add +0.1% | 0.36% | −0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +1.3% | 3.75% | −0.04 |
| IEFA iShares Core MSCI Eafe ETF | Add +1.4% | 4.78% | −0.07 |
| VEA Vanguard Ftse Developed ETF | Add +0.8% | 4.72% | −0.07 |
| IJH iShares Core S&P Midcap ETF | Add +0.1% | 4.52% | −0.10 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +0.2% | 3.66% | −0.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 40 | $612.3M | IVV, VOO, BND, IEF, AGG |
| Q1 2026 | 39 | $560.9M | IVV, VOO, BND, IEF, AGG |
| Q4 2025 | 39 | $559.6M | IVV, VOO, BND, IEF, AGG |
| Q3 2025 | 39 | $541.9M | IVV, VOO, BND, IEF, AGG |
| Q2 2025 | 39 | $504.0M | IVV, VOO, BND, IEF, AGG |
| Q1 2025 | 39 | $471.6M | IVV, VOO, BND, IEF, AGG |
| Q4 2024 | 40 | $471.7M | IVV, VOO, BND, IEF, AGG |
| Q3 2024 | 40 | $476.4M | IVV, VOO, BND, IEF, AGG |
| Q2 2024 | 39 | $441.1M | IVV, VOO, BND, IEF, AGG |
| Q1 2024 | 37 | $442.0M | IVV, VOO, BND, IEF, AGG |