# Goldstein Munger & Associates

> Institutional holdings reported to the SEC as of Q3 2022 on Form 13F. CIK 1570251. Source: https://holderbook.com/funds/1570251-goldstein-munger-associates/

- Reported value: $303.5M
- Positions: 32
- Weight of the ten largest: 86.4%
- Filed: 2022-11-08

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 |
|---|---|---|---|---|---|
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $129.9M | 658,245 | 42.8% | 16 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $24.5M | 438,092 | 8.1% | 16 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $17.5M | 106,066 | 5.8% | 16 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $16.9M | 534,645 | 5.6% | 6 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $16.5M | 454,263 | 5.4% | 16 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $13.3M | 363,566 | 4.4% | 16 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $12.4M | 58,777 | 4.1% | 16 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $10.9M | 311,157 | 3.6% | 16 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $10.5M | 68,009 | 3.5% | 16 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $9.9M | 73,171 | 3.3% | 16 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $7.2M | 76,204 | 2.4% | 16 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $7.2M | 32,117 | 2.4% | 10 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $5.1M | 24,454 | 1.7% | 16 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $3.2M | 123,000 | 1.0% | 3 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.9M | 15,964 | 0.9% | 16 |
| ISHARES TR | [IWN](https://holderbook.com/stocks/IWN/) | $2.5M | 19,662 | 0.8% | 16 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.4M | 6,666 | 0.8% | 16 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $2.3M | 11,192 | 0.8% | 16 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.6M | 13,281 | 0.5% | 16 |
| VANGUARD SCOTTSDALE FDS | [VTWO](https://holderbook.com/stocks/VTWO/) | $1.2M | 17,782 | 0.4% | 11 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $922.0K | 15,930 | 0.3% | 16 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $632.0K | 7,247 | 0.2% | 16 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $628.0K | 2,864 | 0.2% | 16 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $581.0K | 15,088 | 0.2% | 16 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $575.0K | 7,922 | 0.2% | 16 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $546.0K | 13,007 | 0.2% | 10 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $438.0K | 2,048 | 0.1% | 16 |
| ISHARES TR | [IJS](https://holderbook.com/stocks/IJS/) | $364.0K | 4,420 | 0.1% | 16 |
| ISHARES TR | [IJT](https://holderbook.com/stocks/IJT/) | $278.0K | 2,736 | 0.1% | 16 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $261.0K | 1,600 | 0.1% | 3 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $241.0K | 10,752 | 0.1% | 16 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $206.0K | 1,257 | 0.1% | 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 |
|---|---|---|---|---|
| Q3 2022 | -7.0% | -5.3% | -1.7% | 100% |
| Q2 2022 | -15.1% | -16.5% | +1.4% | 100% |
| Q1 2022 | -4.9% | -4.9% | -0.0% | 100% |
| Q4 2021 | +6.0% | +10.7% | -4.7% | 100% |
| Q3 2021 | -1.6% | +0.3% | -1.8% | 100% |
| Q2 2021 | +6.3% | +8.0% | -1.7% | 100% |
| Q1 2021 | +4.2% | +6.0% | -1.8% | 100% |
| Q4 2020 | +13.3% | +11.6% | +1.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2022 | $303.5M | 32 |
| Q2 2022 | $332.2M | 33 |
| Q1 2022 | $385.8M | 36 |
| Q4 2021 | $396.7M | 33 |
| Q3 2021 | $372.7M | 33 |
| Q2 2021 | $379.1M | 33 |
| Q1 2021 | $358.0M | 34 |
| Q4 2020 | $338.7M | 39 |
| Q3 2020 | $297.6M | 38 |
| Q2 2020 | $265.2M | 38 |
| Q1 2020 | $203.0M | 36 |
| Q4 2019 | $244.7M | 33 |