# NAPA WEALTH MANAGEMENT

> Institutional holdings reported to the SEC as of Q3 2025 on Form 13F. CIK 1602844. Source: https://holderbook.com/funds/1602844-napa-wealth-management/

- Reported value: $213.4M
- Positions: 148
- Weight of the ten largest: 33.7%
- Filed: 2025-11-12

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 |
|---|---|---|---|---|---|
| PACER FDS TR | [PWS](https://holderbook.com/stocks/PWS/) | $9.5M | 294,176 | 4.4% | 3 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $8.9M | 35,851 | 4.2% | 8 |
| EA SERIES TRUST | [BOXX](https://holderbook.com/stocks/BOXX/) | $7.7M | 67,591 | 3.6% | 3 |
| SERIES PORTFOLIOS TR | [ADPV](https://holderbook.com/stocks/ADPV/) | $7.4M | 174,917 | 3.5% | 1 |
| TIDAL TRUST I | [HFEQ](https://holderbook.com/stocks/HFEQ/) | $6.9M | 309,022 | 3.2% | 1 |
| PACER FDS TR | [PTBD](https://holderbook.com/stocks/PTBD/) | $6.9M | 348,012 | 3.2% | 2 |
| TIDAL TRUST I | [HFGM](https://holderbook.com/stocks/HFGM/) | $6.8M | 215,661 | 3.2% | 1 |
| INVESCO EXCH TRADED FD TR II | [SPMO](https://holderbook.com/stocks/SPMO/) | $6.5M | 53,579 | 3.0% | 1 |
| SIMPLIFY EXCHANGE TRADED FUN | [CTA](https://holderbook.com/stocks/CTA/) | $5.9M | 210,055 | 2.8% | 5 |
| ISHARES GOLD TRUST MICRO | [IAUM](https://holderbook.com/stocks/IAUM/) | $5.4M | 140,626 | 2.5% | 3 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $5.0M | 45,258 | 2.4% | 1 |
| EA SERIES TRUST | [BDGS](https://holderbook.com/stocks/BDGS/) | $4.9M | 142,413 | 2.3% | 4 |
| PACER FDS TR | [TRND](https://holderbook.com/stocks/TRND/) | $4.7M | 141,201 | 2.2% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $4.4M | 23,685 | 2.1% | 8 |
| GLOBAL X FDS | [BTRN](https://holderbook.com/stocks/BTRN/) | $4.3M | 111,809 | 2.0% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $4.1M | 6,098 | 1.9% | 8 |
| USCF ETF TR | [SDCI](https://holderbook.com/stocks/SDCI/) | $4.1M | 176,636 | 1.9% | 3 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $3.8M | 49,126 | 1.8% | 8 |
| ISHARES TR | [TLTW](https://holderbook.com/stocks/TLTW/) | $3.0M | 129,179 | 1.4% | 5 |
| TIDAL TRUST I | [HFND](https://holderbook.com/stocks/HFND/) | $3.0M | 125,282 | 1.4% | 1 |
| ROUNDHILL ETF TRUST | [QDTE](https://holderbook.com/stocks/QDTE/) | $2.7M | 74,623 | 1.2% | 5 |
| ROUNDHILL ETF TRUST | [XDTE](https://holderbook.com/stocks/XDTE/) | $2.5M | 57,389 | 1.2% | 5 |
| PACER FDS TR | [PTIN](https://holderbook.com/stocks/PTIN/) | $2.5M | 82,646 | 1.2% | 2 |
| WISDOMTREE TR | [USFR](https://holderbook.com/stocks/USFR/) | $2.5M | 49,357 | 1.2% | 8 |
| ROUNDHILL ETF TRUST | [RDTE](https://holderbook.com/stocks/RDTE/) | $2.5M | 73,259 | 1.1% | 2 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $2.1M | 6,484 | 1.0% | 8 |
| HERCULES CAPITAL INC | [HTGC](https://holderbook.com/stocks/HTGC/) | $2.1M | 111,045 | 1.0% | 8 |
| TCW ETF TRUST | [FLXR](https://holderbook.com/stocks/FLXR/) | $2.0M | 51,152 | 1.0% | 4 |
| PACER FDS TR | [PTNQ](https://holderbook.com/stocks/PTNQ/) | $2.0M | 25,965 | 0.9% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.9M | 7,340 | 0.9% | 8 |
| PACER FDS TR | [PTLC](https://holderbook.com/stocks/PTLC/) | $1.8M | 33,642 | 0.9% | 2 |
| SIMPLIFY EXCHANGE TRADED FUN | [HIGH](https://holderbook.com/stocks/HIGH/) | $1.8M | 75,937 | 0.8% | 5 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $1.7M | 2,754 | 0.8% | 8 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $1.6M | 9,022 | 0.8% | 4 |
| ISHARES TR | [LQDW](https://holderbook.com/stocks/LQDW/) | $1.6M | 63,511 | 0.8% | 5 |
| BITWISE FUNDS TRUST | [AETH](https://holderbook.com/stocks/AETH/) | $1.6M | 32,478 | 0.7% | 1 |
| GLOBAL X FDS | [AIQ](https://holderbook.com/stocks/AIQ/) | $1.5M | 31,332 | 0.7% | 8 |
| CAMBRIA ETF TR | [EYLD](https://holderbook.com/stocks/EYLD/) | $1.5M | 41,315 | 0.7% | 4 |
| CAMBRIA ETF TR | [FYLD](https://holderbook.com/stocks/FYLD/) | $1.5M | 47,874 | 0.7% | 4 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $1.3M | 1,796 | 0.6% | 4 |
| BITWISE FUNDS TRUST | [BTOP](https://holderbook.com/stocks/BTOP/) | $1.2M | 34,382 | 0.6% | 1 |
| TIDAL TRUST I | [HFMF](https://holderbook.com/stocks/HFMF/) | $1.2M | 56,020 | 0.6% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.2M | 1,608 | 0.6% | 8 |
| TIDAL TRUST II | [RSSB](https://holderbook.com/stocks/RSSB/) | $1.2M | 41,568 | 0.5% | 1 |
| PACER FDS TR | [QQWZ](https://holderbook.com/stocks/QQWZ/) | $1.2M | 46,730 | 0.5% | 2 |
| DBX ETF TR | [ASHR](https://holderbook.com/stocks/ASHR/) | $1.1M | 34,672 | 0.5% | 1 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $1.1M | 7,617 | 0.5% | 4 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $1.1M | 16,006 | 0.5% | 1 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $1.1M | 19,994 | 0.5% | 1 |
| ISHARES TR | [EXI](https://holderbook.com/stocks/EXI/) | $1.1M | 6,135 | 0.5% | 1 |
| INVESCO EXCH TRADED FD TR II | [IDMO](https://holderbook.com/stocks/IDMO/) | $1.1M | 19,621 | 0.5% | 1 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $1.1M | 33,164 | 0.5% | 1 |
| ISHARES TR | [JXI](https://holderbook.com/stocks/JXI/) | $1.1M | 13,609 | 0.5% | 1 |
| ISHARES TR | [IXN](https://holderbook.com/stocks/IXN/) | $1.1M | 10,217 | 0.5% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.0M | 1,993 | 0.5% | 8 |
| SIMPLIFY EXCHANGE TRADED FUN | [HARD](https://holderbook.com/stocks/HARD/) | $1.0M | 33,739 | 0.5% | 3 |
| TCW ETF TRUST | [PWRD](https://holderbook.com/stocks/PWRD/) | $999.4K | 10,230 | 0.5% | 6 |
| GRAYSCALE COINDESK CRYPTO | [GDLC](https://holderbook.com/stocks/GDLC/) | $999.1K | 17,873 | 0.5% | 1 |
| VICTORY PORTFOLIOS II | [VFLO](https://holderbook.com/stocks/VFLO/) | $972.0K | 25,919 | 0.5% | 4 |
| CIPHER DIGITAL INC | [CIFR](https://holderbook.com/stocks/CIFR/) | $887.4K | 70,488 | 0.4% | 1 |
| TIDAL TRUST II | [RSSX](https://holderbook.com/stocks/RSSX/) | $881.8K | 34,772 | 0.4% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $871.0K | 3,583 | 0.4% | 8 |
| BAKKT INC | [BKKT](https://holderbook.com/stocks/BKKT/) | $863.6K | 25,664 | 0.4% | 1 |
| ISHARES INC | [EWP](https://holderbook.com/stocks/EWP/) | $847.3K | 17,117 | 0.4% | 1 |
| PIMCO EQUITY SER | [MFDX](https://holderbook.com/stocks/MFDX/) | $841.3K | 22,632 | 0.4% | 2 |
| IREN LIMITED | [IREN](https://holderbook.com/stocks/IREN/) | $838.6K | 17,870 | 0.4% | 1 |
| INVESCO EXCH TRADED FD TR II | [BKLN](https://holderbook.com/stocks/BKLN/) | $802.6K | 38,348 | 0.4% | 6 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $735.1K | 3,348 | 0.3% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $735.1K | 2,240 | 0.3% | 8 |
| SIMPLIFY EXCHANGE TRADED FUN | [SVOL](https://holderbook.com/stocks/SVOL/) | $702.5K | 39,025 | 0.3% | 5 |
| NUVEEN CALIF AMT FREE MUNI I | [NKX](https://holderbook.com/stocks/NKX/) | $700.0K | 55,249 | 0.3% | 8 |
| INVESCO ACTIVELY MANAGED EXC | [ICLO](https://holderbook.com/stocks/ICLO/) | $699.7K | 27,320 | 0.3% | 5 |
| NEOS ETF TRUST | [CSHI](https://holderbook.com/stocks/CSHI/) | $696.2K | 14,002 | 0.3% | 5 |
| EXCHANGE LISTED FDS TR | [CEFS](https://holderbook.com/stocks/CEFS/) | $694.1K | 30,485 | 0.3% | 6 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $692.3K | 13,634 | 0.3% | 5 |
| ARGAN INC | [AGX](https://holderbook.com/stocks/AGX/) | $679.4K | 2,516 | 0.3% | 2 |
| GLOBAL X FDS | [PFFV](https://holderbook.com/stocks/PFFV/) | $657.1K | 28,423 | 0.3% | 6 |
| ISHARES TR | [AOR](https://holderbook.com/stocks/AOR/) | $645.7K | 10,029 | 0.3% | 8 |
| PACER FDS TR | [GCOW](https://holderbook.com/stocks/GCOW/) | $639.6K | 16,143 | 0.3% | 6 |
| INNODATA INC | [INOD](https://holderbook.com/stocks/INOD/) | $636.2K | 8,255 | 0.3% | 3 |
| VANECK ETF TRUST | [BIZD](https://holderbook.com/stocks/BIZD/) | $632.2K | 42,313 | 0.3% | 6 |
| ISHARES TR | [HYGW](https://holderbook.com/stocks/HYGW/) | $629.4K | 20,725 | 0.3% | 5 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $609.1K | 1,734 | 0.3% | 8 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $585.6K | 1,775 | 0.3% | 2 |
| ISHARES U S ETF TR | [HYGH](https://holderbook.com/stocks/HYGH/) | $581.9K | 6,701 | 0.3% | 5 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $561.0K | 2,859 | 0.3% | 2 |
| VANGUARD INTL EQUITY INDEX F | [VNQI](https://holderbook.com/stocks/VNQI/) | $557.8K | 11,685 | 0.3% | 2 |
| GLOBAL X FDS | [COLO](https://holderbook.com/stocks/COLO/) | $547.1K | 16,664 | 0.3% | 1 |
| INVESCO EXCH TRADED FD TR II | [PIO](https://holderbook.com/stocks/PIO/) | $547.0K | 12,184 | 0.3% | 1 |
| FLAHERTY & CRUMRINE PFD INCO | [PFO](https://holderbook.com/stocks/PFO/) | $546.4K | 56,040 | 0.3% | 6 |
| ISHARES TR | [IGF](https://holderbook.com/stocks/IGF/) | $543.4K | 8,891 | 0.3% | 1 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $536.8K | 769 | 0.3% | 3 |
| ISHARES TR | [KXI](https://holderbook.com/stocks/KXI/) | $534.9K | 8,309 | 0.3% | 1 |
| TIDAL TRUST III | [AIS](https://holderbook.com/stocks/AIS/) | $527.5K | 15,017 | 0.2% | 3 |
| FIRST TR EXCHANGE TRADED FD | [SKYY](https://holderbook.com/stocks/SKYY/) | $522.4K | 3,886 | 0.2% | 8 |
| SIMPLIFY EXCHANGE TRADED FUN | [CDX](https://holderbook.com/stocks/CDX/) | $513.6K | 22,418 | 0.2% | 5 |
| ISHARES INC | [EMHY](https://holderbook.com/stocks/EMHY/) | $509.3K | 12,833 | 0.2% | 5 |
| SIMPLIFY EXCHANGE TRADED FUN | [PFIX](https://holderbook.com/stocks/PFIX/) | $501.7K | 10,415 | 0.2% | 4 |
| SIMPLIFY EXCHANGE TRADED FUN | [CRDT](https://holderbook.com/stocks/CRDT/) | $494.8K | 20,915 | 0.2% | 5 |
| PACER FDS TR | [INDS](https://holderbook.com/stocks/INDS/) | $493.5K | 13,261 | 0.2% | 4 |

## 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 2025 | +4.9% | +7.8% | -2.9% | 96% |
| Q2 2025 | +4.6% | +10.5% | -5.8% | 98% |
| Q1 2025 | -3.6% | -4.6% | +1.0% | 99% |
| Q4 2024 | +0.6% | +2.1% | -1.6% | 99% |
| Q3 2024 | +4.1% | +5.4% | -1.3% | 100% |
| Q2 2024 | +0.8% | +4.0% | -3.3% | 100% |
| Q1 2024 | +4.5% | +10.0% | -5.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2025 | $213.4M | 148 |
| Q2 2025 | $209.1M | 132 |
| Q1 2025 | $177.7M | 159 |
| Q4 2024 | $231.3M | 170 |
| Q3 2024 | $211.3M | 156 |
| Q2 2024 | $148.2M | 115 |
| Q1 2024 | $189.9M | 71 |
| Q4 2023 | $184.3M | 109 |