# Tanglewood Wealth Management, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1454308. Source: https://holderbook.com/funds/1454308-tanglewood-wealth-management-inc/

- Reported value: $1.2B
- Positions: 44
- Weight of the ten largest: 84.4%
- Filed: 2026-07-27

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $239.2M | 646,444 | 20.3% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $210.5M | 2,953,730 | 17.9% | 19 |
| ISHARES TR | [IEI](https://holderbook.com/stocks/IEI/) | $169.7M | 1,445,259 | 14.4% | 18 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $60.5M | 1,026,225 | 5.1% | 17 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $58.9M | 780,110 | 5.0% | 17 |
| EA SERIES TRUST | [FRDM](https://holderbook.com/stocks/FRDM/) | $58.0M | 795,880 | 4.9% | 8 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $56.1M | 76,145 | 4.8% | 21 |
| SCHWAB STRATEGIC TR | [FNDX](https://holderbook.com/stocks/FNDX/) | $53.5M | 1,719,646 | 4.5% | 22 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $45.7M | 1,577,486 | 3.9% | 31 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $40.3M | 109,503 | 3.4% | 24 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $31.8M | 74,519 | 2.7% | 31 |
| COHEN & STEERS ETF TRUST | - | $31.6M | 1,334,706 | 2.7% | 1 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $29.2M | 281,224 | 2.5% | 19 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $26.4M | 120,139 | 2.2% | 31 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $24.5M | 254,209 | 2.1% | 31 |
| VANGUARD WHITEHALL FDS | [VIGI](https://holderbook.com/stocks/VIGI/) | $6.4M | 68,858 | 0.5% | 26 |
| T ROWE PRICE EXCHANGE-TRADED | [TCAF](https://holderbook.com/stocks/TCAF/) | $6.1M | 149,060 | 0.5% | 12 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $5.2M | 54,279 | 0.4% | 19 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $2.5M | 23,881 | 0.2% | 2 |
| SCHWAB STRATEGIC TR | [SCHO](https://holderbook.com/stocks/SCHO/) | $2.4M | 97,461 | 0.2% | 1 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $2.1M | 16,818 | 0.2% | 17 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $1.7M | 8,999 | 0.1% | 17 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $1.7M | 5,556 | 0.1% | 1 |
| INVESTMENT MANAGERS SER TR I | [FPAG](https://holderbook.com/stocks/FPAG/) | $1.6M | 40,809 | 0.1% | 9 |
| RBB FUND TRUST | [FEOE](https://holderbook.com/stocks/FEOE/) | $1.4M | 26,234 | 0.1% | 5 |
| SELECT SECTOR SPDR TR | [XLRE](https://holderbook.com/stocks/XLRE/) | $1.2M | 27,682 | 0.1% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $931.7K | 2,607 | 0.1% | 11 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $860.8K | 29,249 | 0.1% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $748.9K | 1 | 0.1% | 9 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $625.0K | 2,160 | 0.1% | 11 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $482.8K | 703 | 0.0% | 1 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $457.2K | 5,972 | 0.0% | 18 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $423.0K | 1,134 | 0.0% | 11 |
| PROFESIONALLY MANAGED PORTFO | [AKRE](https://holderbook.com/stocks/AKRE/) | $391.7K | 7,364 | 0.0% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $334.6K | 448 | 0.0% | 8 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $320.8K | 6,000 | 0.0% | 2 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $318.3K | 1,313 | 0.0% | 5 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $271.2K | 3,695 | 0.0% | 3 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $266.2K | 250 | 0.0% | 1 |
| ISHARES TR | [IDV](https://holderbook.com/stocks/IDV/) | $229.9K | 5,550 | 0.0% | 5 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $217.2K | 957 | 0.0% | 1 |
| ISHARES TR | [DVY](https://holderbook.com/stocks/DVY/) | $210.5K | 1,347 | 0.0% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $204.0K | 856 | 0.0% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $200.4K | 789 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.1% | +14.8% | -7.7% | 100% |
| Q1 2026 | +0.3% | -4.6% | +4.9% | 100% |
| Q4 2025 | +3.8% | +2.4% | +1.4% | 100% |
| Q3 2025 | +6.3% | +7.8% | -1.5% | 100% |
| Q2 2025 | +7.1% | +10.5% | -3.4% | 100% |
| Q1 2025 | +1.9% | -4.6% | +6.4% | 100% |
| Q4 2024 | -2.2% | +2.1% | -4.3% | 100% |
| Q3 2024 | +6.3% | +5.4% | +0.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.2B | 44 |
| Q1 2026 | $1.2B | 38 |
| Q4 2025 | $1.1B | 35 |
| Q3 2025 | $1.1B | 39 |
| Q2 2025 | $1.0B | 40 |
| Q1 2025 | $888.9M | 36 |
| Q4 2024 | $868.0M | 34 |
| Q3 2024 | $867.9M | 36 |
| Q2 2024 | $804.3M | 30 |
| Q1 2024 | $809.2M | 33 |
| Q4 2023 | $816.8M | 32 |
| Q3 2023 | $589.6M | 23 |