# Denver PWM, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1657980. Source: https://holderbook.com/funds/1657980-denver-pwm-llc/

- Reported value: $305.7M
- Positions: 89
- Weight of the ten largest: 56.9%
- Filed: 2026-08-18

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 |
|---|---|---|---|---|---|
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $26.4M | 736,549 | 8.6% | 31 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $18.8M | 532,138 | 6.2% | 10 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $18.8M | 512,689 | 6.2% | 31 |
| ISHARES TR | [IBTH](https://holderbook.com/stocks/IBTH/) | $18.4M | 820,926 | 6.0% | 9 |
| ISHARES TR | [HEFA](https://holderbook.com/stocks/HEFA/) | $16.5M | 345,322 | 5.4% | 7 |
| ISHARES TR | [IBTI](https://holderbook.com/stocks/IBTI/) | $16.2M | 734,257 | 5.3% | 9 |
| ISHARES TR | [IBTG](https://holderbook.com/stocks/IBTG/) | $15.8M | 692,276 | 5.2% | 9 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $14.8M | 520,247 | 4.8% | 9 |
| ISHARES TR | [IBTJ](https://holderbook.com/stocks/IBTJ/) | $14.8M | 685,352 | 4.8% | 7 |
| SSGA ACTIVE ETF TR | [TOTL](https://holderbook.com/stocks/TOTL/) | $13.5M | 348,315 | 4.4% | 16 |
| ISHARES TR | [IBTK](https://holderbook.com/stocks/IBTK/) | $13.3M | 684,939 | 4.4% | 2 |
| ISHARES TR | [SMLF](https://holderbook.com/stocks/SMLF/) | $9.7M | 106,982 | 3.2% | 8 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $9.6M | 188,939 | 3.1% | 7 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $7.7M | 64,609 | 2.5% | 25 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $5.4M | 7,543 | 1.8% | 13 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $5.2M | 168,888 | 1.7% | 31 |
| PIMCO ETF TR | [BOND](https://holderbook.com/stocks/BOND/) | $4.9M | 54,023 | 1.6% | 9 |
| J P MORGAN EXCHANGE TRADED F | [JAVA](https://holderbook.com/stocks/JAVA/) | $4.2M | 50,176 | 1.4% | 9 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $4.0M | 40,805 | 1.3% | 7 |
| FIRST TR EXCHNG TRADED FD VI | [BUFR](https://holderbook.com/stocks/BUFR/) | $3.7M | 99,896 | 1.2% | 1 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $3.6M | 11,696 | 1.2% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $3.1M | 3,584 | 1.0% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.8M | 5,618 | 0.9% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.7M | 3,412 | 0.9% | 31 |
| ISHARES TR | [IPAC](https://holderbook.com/stocks/IPAC/) | $2.6M | 29,978 | 0.8% | 11 |
| INVESCO EXCH TRADED FD TR II | [SPMO](https://holderbook.com/stocks/SPMO/) | $2.6M | 16,733 | 0.8% | 2 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $2.4M | 22,165 | 0.8% | 31 |
| JANUS DETROIT STR TR | [JBBB](https://holderbook.com/stocks/JBBB/) | $2.2M | 47,354 | 0.7% | 7 |
| ISHARES TR | [IUSV](https://holderbook.com/stocks/IUSV/) | $2.2M | 19,221 | 0.7% | 9 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.2M | 9,780 | 0.7% | 12 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $2.1M | 2,159 | 0.7% | 7 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $2.0M | 17,588 | 0.7% | 26 |
| TRUST FOR PROFESSIONAL MANAG | [CLSE](https://holderbook.com/stocks/CLSE/) | $1.6M | 48,283 | 0.5% | 2 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $1.6M | 15,693 | 0.5% | 25 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $1.5M | 43,022 | 0.5% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.5M | 9,338 | 0.5% | 17 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $1.4M | 3,255 | 0.5% | 31 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $1.3M | 1,392 | 0.4% | 2 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.3M | 8,435 | 0.4% | 31 |
| NEWSMAX INC | [NMAX](https://holderbook.com/stocks/NMAX/) | $1.2M | 107,741 | 0.4% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.1M | 4,096 | 0.4% | 25 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $965.0K | 19,906 | 0.3% | 6 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $800.2K | 2,313 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $743.3K | 2,403 | 0.2% | 21 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $741.5K | 2,044 | 0.2% | 20 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $725.6K | 9,862 | 0.2% | 15 |
| J P MORGAN EXCHANGE TRADED F | [HELO](https://holderbook.com/stocks/HELO/) | $650.4K | 9,271 | 0.2% | 9 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $633.1K | 1,611 | 0.2% | 5 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $611.9K | 20,364 | 0.2% | 31 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $610.7K | 6,836 | 0.2% | 5 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $589.5K | 1,600 | 0.2% | 9 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $575.0K | 2,960 | 0.2% | 16 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $527.5K | 1,729 | 0.2% | 31 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $524.5K | 2,264 | 0.2% | 9 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $513.7K | 1,501 | 0.2% | 18 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $505.1K | 1,470 | 0.2% | 21 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $476.7K | 1,705 | 0.2% | 12 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $471.9K | 2,014 | 0.2% | 6 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $466.9K | 1,095 | 0.2% | 5 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $463.3K | 4,019 | 0.2% | 9 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $460.3K | 7,211 | 0.2% | 6 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $451.8K | 4,650 | 0.1% | 7 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $432.5K | 1,042 | 0.1% | 18 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $424.2K | 1,864 | 0.1% | 18 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $407.7K | 3,978 | 0.1% | 2 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $405.4K | 3,794 | 0.1% | 21 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $397.1K | 512 | 0.1% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $383.7K | 395 | 0.1% | 2 |
| VIAVI SOLUTIONS INC | [VIAV](https://holderbook.com/stocks/VIAV/) | $380.6K | 8,742 | 0.1% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $379.9K | 1,121 | 0.1% | 7 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $365.4K | 3,289 | 0.1% | 24 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $345.4K | 3,889 | 0.1% | 5 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $344.1K | 324 | 0.1% | 2 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $336.6K | 876 | 0.1% | 1 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $332.7K | 1,397 | 0.1% | 15 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $329.7K | 4,060 | 0.1% | 9 |
| SPDR SERIES TRUST | [MDYG](https://holderbook.com/stocks/MDYG/) | $319.5K | 2,813 | 0.1% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $311.7K | 1,197 | 0.1% | 2 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $299.9K | 583 | 0.1% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $290.7K | 493 | 0.1% | 5 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $290.6K | 2,100 | 0.1% | 6 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $282.7K | 2,029 | 0.1% | 2 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $279.2K | 3,861 | 0.1% | 5 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $265.6K | 3,853 | 0.1% | 9 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $255.2K | 216 | 0.1% | 2 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $248.2K | 1,241 | 0.1% | 2 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $209.0K | 1,374 | 0.1% | 2 |
| INVESCO EXCH TRD SLF IDX FD | [BSJS](https://holderbook.com/stocks/BSJS/) | $206.2K | 9,450 | 0.1% | 1 |
| YORK SPACE SYSTEMS INC | [YSS](https://holderbook.com/stocks/YSS/) | $163.9K | 15,000 | 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 |
|---|---|---|---|---|
| Q2 2026 | +9.4% | +14.8% | -5.4% | 94% |
| Q1 2026 | -1.1% | -4.6% | +3.6% | 106% |
| Q4 2025 | +1.0% | +2.4% | -1.3% | 98% |
| Q3 2025 | +4.5% | +7.8% | -3.4% | 100% |
| Q2 2025 | +6.0% | +10.5% | -4.4% | 100% |
| Q1 2025 | -1.6% | -4.6% | +2.9% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.7% | 100% |
| Q3 2024 | +5.1% | +5.4% | -0.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $305.7M | 89 |
| Q1 2026 | $290.9M | 87 |
| Q4 2025 | $299.4M | 76 |
| Q3 2025 | $320.7M | 78 |
| Q2 2025 | $320.7M | 78 |
| Q1 2025 | $277.9M | 70 |
| Q4 2024 | $258.4M | 231 |
| Q3 2024 | $263.3M | 159 |
| Q2 2024 | $250.7M | 234 |
| Q1 2024 | $258.7M | 95 |
| Q4 2023 | $215.8M | 85 |
| Q3 2023 | $239.0M | 96 |