# Tillar-Wenstrup Advisors, LLC

> Institutional holdings reported to the SEC as of Q4 2022 on Form 13F. CIK 1585045. Source: https://holderbook.com/funds/1585045-tillar-wenstrup-advisors-llc/

- Reported value: $207.0M
- Positions: 44
- Weight of the ten largest: 64.3%
- Filed: 2023-01-24

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 | [USMV](https://holderbook.com/stocks/USMV/) | $19.8M | 274,670 | 9.6% | 17 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $18.9M | 165,511 | 9.1% | 17 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $14.4M | 98,611 | 7.0% | 17 |
| ISHARES TR | [TFLO](https://holderbook.com/stocks/TFLO/) | $12.9M | 256,808 | 6.3% | 2 |
| INVESCO EXCHANGE TRADED FD T | [PRF](https://holderbook.com/stocks/PRF/) | $12.5M | 80,333 | 6.0% | 11 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $11.5M | 229,858 | 5.6% | 11 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $11.4M | 81,177 | 5.5% | 11 |
| ISHARES TR | [FLOT](https://holderbook.com/stocks/FLOT/) | $11.2M | 223,025 | 5.4% | 3 |
| SPDR SERIES TRUST | [FLRN](https://holderbook.com/stocks/FLRN/) | $11.1M | 364,568 | 5.4% | 11 |
| ISHARES TR | [IBDO](https://holderbook.com/stocks/IBDO/) | $9.5M | 379,705 | 4.6% | 9 |
| SPDR SERIES TRUST | [SPTM](https://holderbook.com/stocks/SPTM/) | $8.9M | 187,744 | 4.3% | 11 |
| ISHARES TR | [IBDP](https://holderbook.com/stocks/IBDP/) | $7.2M | 295,053 | 3.5% | 9 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $5.3M | 33,692 | 2.6% | 4 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $5.0M | 24,562 | 2.4% | 17 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $4.9M | 36,111 | 2.4% | 4 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $4.0M | 79,688 | 1.9% | 17 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $3.7M | 20,293 | 1.8% | 12 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $3.5M | 84,117 | 1.7% | 4 |
| VANGUARD WELLINGTON FD | [VFVA](https://holderbook.com/stocks/VFVA/) | $3.3M | 33,483 | 1.6% | 4 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $2.9M | 11,793 | 1.4% | 1 |
| CINCINNATI FINL CORP | [CINF](https://holderbook.com/stocks/CINF/) | $2.6M | 25,731 | 1.3% | 11 |
| ISHARES TR | [IBTD](https://holderbook.com/stocks/IBTD/) | $2.3M | 93,720 | 1.1% | 3 |
| SPDR SERIES TRUST | [LGLV](https://holderbook.com/stocks/LGLV/) | $2.2M | 16,087 | 1.1% | 2 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.1M | 9,684 | 1.0% | 12 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.7M | 12,828 | 0.8% | 11 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.5M | 5,011 | 0.7% | 9 |
| VANGUARD WELLINGTON FD | [VFMO](https://holderbook.com/stocks/VFMO/) | $1.5M | 13,293 | 0.7% | 7 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.4M | 5,835 | 0.7% | 11 |
| ISHARES TR | [IBTE](https://holderbook.com/stocks/IBTE/) | $1.3M | 54,010 | 0.6% | 3 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $1.0M | 1,424 | 0.5% | 3 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $813.0K | 9,159 | 0.4% | 9 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $731.0K | 4,820 | 0.4% | 11 |
| ISHARES TR | [IBML](https://holderbook.com/stocks/IBML/) | $678.0K | 26,751 | 0.3% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $651.0K | 3,142 | 0.3% | 5 |
| ISHARES TR | [ESGD](https://holderbook.com/stocks/ESGD/) | $633.0K | 9,631 | 0.3% | 11 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $583.0K | 3,226 | 0.3% | 5 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $583.0K | 7,717 | 0.3% | 1 |
| ISHARES TR | [IBMM](https://holderbook.com/stocks/IBMM/) | $534.0K | 20,741 | 0.3% | 3 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $523.0K | 16,890 | 0.3% | 17 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $432.0K | 5,146 | 0.2% | 11 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $378.0K | 828 | 0.2% | 5 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $362.0K | 3,093 | 0.2% | 1 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $317.0K | 1,203 | 0.2% | 5 |
| BANDWIDTH INC | [BAND](https://holderbook.com/stocks/BAND/) | $292.0K | 12,711 | 0.1% | 16 |

## 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 |
|---|---|---|---|---|
| Q4 2022 | +7.7% | +7.1% | +0.6% | 89% |
| Q3 2022 | -5.7% | -5.3% | -0.4% | 88% |
| Q2 2022 | -13.6% | -16.5% | +2.8% | 90% |
| Q1 2022 | -4.2% | -4.9% | +0.7% | 87% |
| Q4 2021 | +6.5% | +10.7% | -4.2% | 87% |
| Q3 2021 | -1.3% | +0.3% | -1.6% | 88% |
| Q2 2021 | +6.1% | +8.0% | -1.9% | 87% |
| Q1 2021 | +4.9% | +6.0% | -1.2% | 87% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2022 | $207.0M | 44 |
| Q3 2022 | $200.2M | 46 |
| Q2 2022 | $199.9M | 49 |
| Q1 2022 | $208.8M | 45 |
| Q4 2021 | $212.4M | 40 |
| Q3 2021 | $216.1M | 35 |
| Q2 2021 | $219.6M | 36 |
| Q1 2021 | $205.0M | 35 |
| Q4 2020 | $193.1M | 34 |
| Q3 2020 | $172.4M | 35 |
| Q2 2020 | $165.0M | 33 |
| Q1 2020 | $107.7M | 19 |