# Tradewinds Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1616026. Source: https://holderbook.com/funds/1616026-tradewinds-capital-management-llc/

- Reported value: $562.6M
- Positions: 715
- Weight of the ten largest: 61.2%
- Filed: 2026-07-24

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 INC | [EWY](https://holderbook.com/stocks/EWY/) | $49.2M | 243,624 | 8.7% | 3 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $42.3M | 795,536 | 7.5% | 31 |
| ISHARES TR | [ICLN](https://holderbook.com/stocks/ICLN/) | $38.9M | 1,897,510 | 6.9% | 3 |
| J P MORGAN EXCHANGE TRADED F | [BBCA](https://holderbook.com/stocks/BBCA/) | $38.5M | 387,374 | 6.8% | 1 |
| ISHARES U S ETF TR | [COMT](https://holderbook.com/stocks/COMT/) | $37.2M | 1,225,318 | 6.6% | 6 |
| ABRDN SILVER ETF TRUST | [SIVR](https://holderbook.com/stocks/SIVR/) | $31.5M | 559,479 | 5.6% | 31 |
| FRANKLIN TEMPLETON ETF TR | [FLGB](https://holderbook.com/stocks/FLGB/) | $27.8M | 786,791 | 4.9% | 1 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $27.4M | 147,946 | 4.9% | 27 |
| SPDR INDEX SHS FDS | [GNR](https://holderbook.com/stocks/GNR/) | $26.1M | 387,837 | 4.6% | 2 |
| SPDR SERIES TRUST | [HYMB](https://holderbook.com/stocks/HYMB/) | $25.2M | 992,182 | 4.5% | 27 |
| ISHARES TR | [ICVT](https://holderbook.com/stocks/ICVT/) | $24.3M | 199,640 | 4.3% | 14 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $20.7M | 398,992 | 3.7% | 7 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $13.4M | 454,027 | 2.4% | 31 |
| VANGUARD MUN BD FDS | [VCRM](https://holderbook.com/stocks/VCRM/) | $11.8M | 153,988 | 2.1% | 1 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $11.6M | 122,869 | 2.1% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $9.9M | 26,673 | 1.8% | 31 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $8.4M | 165,664 | 1.5% | 31 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $6.9M | 247,653 | 1.2% | 12 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $5.3M | 77,891 | 0.9% | 7 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $4.9M | 136,764 | 0.9% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $4.9M | 16,976 | 0.9% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $4.8M | 4,200 | 0.9% | 31 |
| SPDR SERIES TRUST | [SPBO](https://holderbook.com/stocks/SPBO/) | $3.6M | 123,188 | 0.6% | 7 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.1M | 12,939 | 0.5% | 31 |
| SPDR SERIES TRUST | [SPSB](https://holderbook.com/stocks/SPSB/) | $3.0M | 99,840 | 0.5% | 7 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.9M | 11,273 | 0.5% | 31 |
| SCHWAB STRATEGIC TR | [SCHC](https://holderbook.com/stocks/SCHC/) | $2.8M | 58,638 | 0.5% | 13 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.4M | 6,805 | 0.4% | 31 |
| INVESCO EXCH TRADED FD TR II | [BKLN](https://holderbook.com/stocks/BKLN/) | $2.4M | 115,738 | 0.4% | 12 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.3M | 11,734 | 0.4% | 31 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $2.2M | 18,692 | 0.4% | 12 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $2.1M | 34,223 | 0.4% | 21 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $2.0M | 2,932 | 0.4% | 27 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $1.9M | 2,569 | 0.3% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.9M | 13,561 | 0.3% | 31 |
| ISHARES TR | [IEUR](https://holderbook.com/stocks/IEUR/) | $1.7M | 22,490 | 0.3% | 14 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $1.6M | 2,800 | 0.3% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $1.5M | 2 | 0.3% | 6 |
| SPDR SERIES TRUST | [FLRN](https://holderbook.com/stocks/FLRN/) | $1.4M | 43,968 | 0.2% | 18 |
| ISHARES INC | [EWG](https://holderbook.com/stocks/EWG/) | $1.3M | 31,312 | 0.2% | 15 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.2M | 1,293 | 0.2% | 31 |
| ISHARES TR | [ICSH](https://holderbook.com/stocks/ICSH/) | $1.2M | 23,753 | 0.2% | 18 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.1M | 2,289 | 0.2% | 31 |
| FIDELITY COMWLTH TR | [ONEQ](https://holderbook.com/stocks/ONEQ/) | $1.1M | 10,862 | 0.2% | 13 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $945.3K | 9,251 | 0.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $883.4K | 2,472 | 0.2% | 31 |
| ISHARES INC | [EWW](https://holderbook.com/stocks/EWW/) | $878.3K | 11,668 | 0.2% | 18 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $785.7K | 3,076 | 0.1% | 10 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $778.8K | 8,583 | 0.1% | 31 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $770.6K | 3,441 | 0.1% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $760.5K | 3,440 | 0.1% | 1 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $760.2K | 3,990 | 0.1% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $760.0K | 3,020 | 0.1% | 31 |
| WAFD INC | [WAFD](https://holderbook.com/stocks/WAFD/) | $729.0K | 19,000 | 0.1% | 31 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $680.2K | 500 | 0.1% | 31 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $680.1K | 8,469 | 0.1% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $670.3K | 4,571 | 0.1% | 31 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $645.0K | 6,000 | 0.1% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $636.9K | 11,178 | 0.1% | 31 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $631.9K | 3,847 | 0.1% | 31 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $627.5K | 4,339 | 0.1% | 10 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $617.1K | 18,235 | 0.1% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $608.3K | 7,361 | 0.1% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $596.1K | 1,821 | 0.1% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $595.8K | 559 | 0.1% | 13 |
| TEMPUS AI INC | [TEM](https://holderbook.com/stocks/TEM/) | $579.3K | 10,000 | 0.1% | 3 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $565.2K | 7,016 | 0.1% | 31 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $531.9K | 6,118 | 0.1% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $529.7K | 4,677 | 0.1% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $519.2K | 693 | 0.1% | 9 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $505.7K | 1,532 | 0.1% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $483.6K | 1,778 | 0.1% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $477.6K | 1,767 | 0.1% | 31 |
| BANNER CORP | [BANR](https://holderbook.com/stocks/BANR/) | $464.5K | 6,992 | 0.1% | 31 |
| SUPER MICRO COMPUTER INC | [SMCI](https://holderbook.com/stocks/SMCI/) | $461.0K | 15,718 | 0.1% | 7 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $458.7K | 3,285 | 0.1% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $456.1K | 8,414 | 0.1% | 31 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $447.1K | 12,959 | 0.1% | 16 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $442.7K | 2,196 | 0.1% | 8 |
| INVESCO EXCH TRADED FD TR II | [SPMO](https://holderbook.com/stocks/SPMO/) | $441.7K | 2,734 | 0.1% | 7 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $400.4K | 3,409 | 0.1% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $398.7K | 1,169 | 0.1% | 31 |
| VICOR CORP | [VICR](https://holderbook.com/stocks/VICR/) | $395.0K | 1,040 | 0.1% | 3 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $385.8K | 1,782 | 0.1% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $338.4K | 468 | 0.1% | 15 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $331.3K | 1,053 | 0.1% | 10 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $325.0K | 945 | 0.1% | 7 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $313.1K | 261 | 0.1% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $290.2K | 690 | 0.1% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $287.3K | 2,122 | 0.1% | 31 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $279.4K | 2,735 | 0.0% | 16 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $275.9K | 435 | 0.0% | 31 |
| TILRAY BRANDS INC | [TLRY](https://holderbook.com/stocks/TLRY/) | $271.1K | 60,386 | 0.0% | 3 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $259.5K | 701 | 0.0% | 31 |
| ISHARES INC | [EWP](https://holderbook.com/stocks/EWP/) | $258.4K | 4,351 | 0.0% | 13 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $254.2K | 904 | 0.0% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $248.4K | 2,581 | 0.0% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $246.0K | 1,297 | 0.0% | 25 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $245.5K | 514 | 0.0% | 13 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $241.3K | 323 | 0.0% | 31 |

## 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 | +5.6% | +14.8% | -9.3% | 100% |
| Q1 2026 | +1.3% | -4.6% | +5.9% | 100% |
| Q4 2025 | +2.0% | +2.4% | -0.3% | 100% |
| Q3 2025 | +7.9% | +7.8% | +0.1% | 100% |
| Q2 2025 | +7.8% | +10.5% | -2.6% | 100% |
| Q1 2025 | +0.1% | -4.6% | +4.7% | 98% |
| Q4 2024 | -1.6% | +2.1% | -3.7% | 100% |
| Q3 2024 | +6.0% | +5.4% | +0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $562.6M | 715 |
| Q1 2026 | $503.5M | 718 |
| Q4 2025 | $474.2M | 685 |
| Q3 2025 | $445.2M | 677 |
| Q2 2025 | $397.7M | 641 |
| Q1 2025 | $373.1M | 664 |
| Q4 2024 | $378.9M | 668 |
| Q3 2024 | $373.8M | 616 |
| Q2 2024 | $339.0M | 591 |
| Q1 2024 | $361.8M | 553 |
| Q4 2023 | $251.3M | 480 |
| Q3 2023 | $292.0M | 505 |