# TLWM

> Institutional holdings reported to the SEC as of Q3 2026 on Form 13F. CIK 1732537. Source: https://holderbook.com/funds/1732537-tlwm/

- Reported value: $627.5M
- Positions: 74
- Weight of the ten largest: 86.1%
- Filed: 2026-10-09

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 |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $126.7M | 166,090 | 20.2% | 32 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $122.5M | 283,869 | 19.5% | 32 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $71.1M | 940,060 | 11.3% | 32 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $48.5M | 394,302 | 7.7% | 4 |
| INVESCO EXCH TRD SLF IDX FD | [BSCQ](https://holderbook.com/stocks/BSCQ/) | $36.5M | 1,868,159 | 5.8% | 24 |
| INVESCO EXCH TRD SLF IDX FD | [BSCS](https://holderbook.com/stocks/BSCS/) | $35.5M | 1,765,162 | 5.7% | 16 |
| INVESCO EXCH TRD SLF IDX FD | [BSCU](https://holderbook.com/stocks/BSCU/) | $32.9M | 2,037,594 | 5.2% | 15 |
| INVESCO EXCH TRD SLF IDX FD | [BSCT](https://holderbook.com/stocks/BSCT/) | $32.0M | 1,758,747 | 5.1% | 15 |
| INVESCO EXCH TRD SLF IDX FD | [BSCR](https://holderbook.com/stocks/BSCR/) | $28.9M | 1,480,882 | 4.6% | 27 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.5M | 24,272 | 0.9% | 15 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.2M | 15,730 | 0.8% | 32 |
| ISHARES TR | [IBDS](https://holderbook.com/stocks/IBDS/) | $3.9M | 162,168 | 0.6% | 32 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.3M | 6,378 | 0.5% | 32 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.3M | 13,085 | 0.5% | 32 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.1M | 4,211 | 0.5% | 24 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $3.0M | 8,620 | 0.5% | 32 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.9M | 8,064 | 0.5% | 16 |
| TWILIO INC | [TWLO](https://holderbook.com/stocks/TWLO/) | $2.8M | 9,660 | 0.5% | 5 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $2.8M | 30,049 | 0.4% | 18 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $2.7M | 3,902 | 0.4% | 14 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $2.4M | 22,805 | 0.4% | 32 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.2M | 11,932 | 0.4% | 32 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.2M | 6,746 | 0.4% | 32 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $2.2M | 8,157 | 0.3% | 11 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.1M | 38,324 | 0.3% | 28 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $2.0M | 9,934 | 0.3% | 32 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.0M | 5,633 | 0.3% | 28 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.0M | 8,682 | 0.3% | 25 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $1.8M | 18,541 | 0.3% | 15 |
| CARPENTER TECHNOLOGY CORP | [CRS](https://holderbook.com/stocks/CRS/) | $1.7M | 4,344 | 0.3% | 23 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $1.7M | 7,961 | 0.3% | 26 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $1.5M | 4,520 | 0.2% | 8 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $1.5M | 9,203 | 0.2% | 2 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $1.5M | 16,271 | 0.2% | 32 |
| SPDR SERIES TRUST | [SPTM](https://holderbook.com/stocks/SPTM/) | $1.4M | 15,497 | 0.2% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $1.4M | 2,695 | 0.2% | 2 |
| NATERA INC | [NTRA](https://holderbook.com/stocks/NTRA/) | $1.2M | 2,973 | 0.2% | 11 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.2M | 3,229 | 0.2% | 30 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.1M | 2,531 | 0.2% | 2 |
| GLOBAL X FDS | [QYLD](https://holderbook.com/stocks/QYLD/) | $1.1M | 57,399 | 0.2% | 11 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $1.0M | 4,355 | 0.2% | 13 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $986.9K | 1,334 | 0.2% | 20 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $980.0K | 1,968 | 0.2% | 16 |
| ZSCALER INC | [ZS](https://holderbook.com/stocks/ZS/) | $973.6K | 4,882 | 0.2% | 16 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $909.9K | 18,121 | 0.1% | 30 |
| CIENA CORP | [CIEN](https://holderbook.com/stocks/CIEN/) | $854.9K | 2,430 | 0.1% | 2 |
| ISHARES TR | [IBDR](https://holderbook.com/stocks/IBDR/) | $836.8K | 34,520 | 0.1% | 32 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $798.0K | 5,812 | 0.1% | 4 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $779.5K | 5,167 | 0.1% | 1 |
| GLOBE LIFE INC | [GL](https://holderbook.com/stocks/GL/) | $778.6K | 4,700 | 0.1% | 2 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $701.4K | 3,037 | 0.1% | 28 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $646.5K | 14,811 | 0.1% | 11 |
| EASTMAN CHEM CO | [EMN](https://holderbook.com/stocks/EMN/) | $635.0K | 9,793 | 0.1% | 32 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $632.6K | 2,999 | 0.1% | 1 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $599.5K | 4,790 | 0.1% | 16 |
| INVESCO EXCH TRD SLF IDX FD | [BSMR](https://holderbook.com/stocks/BSMR/) | $565.6K | 24,315 | 0.1% | 16 |
| INVESCO EXCH TRD SLF IDX FD | [BSMQ](https://holderbook.com/stocks/BSMQ/) | $565.3K | 24,135 | 0.1% | 16 |
| INVESCO EXCH TRD SLF IDX FD | [BSMT](https://holderbook.com/stocks/BSMT/) | $558.8K | 25,100 | 0.1% | 12 |
| INVESCO EXCH TRD SLF IDX FD | [BSMU](https://holderbook.com/stocks/BSMU/) | $556.3K | 26,625 | 0.1% | 12 |
| INVESCO EXCH TRD SLF IDX FD | [BSMS](https://holderbook.com/stocks/BSMS/) | $555.0K | 24,342 | 0.1% | 4 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $526.1K | 1,544 | 0.1% | 13 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $503.9K | 658 | 0.1% | 2 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $458.4K | 5,325 | 0.1% | 14 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $445.9K | 2,877 | 0.1% | 1 |
| VANGUARD SCOTTSDALE FDS | [VONE](https://holderbook.com/stocks/VONE/) | $425.5K | 1,237 | 0.1% | 16 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $423.5K | 1,112 | 0.1% | 7 |
| ISHARES TR | [CMF](https://holderbook.com/stocks/CMF/) | $418.2K | 7,728 | 0.1% | 5 |
| CONSTELLATION BRANDS INC | [STZ](https://holderbook.com/stocks/STZ/) | $382.9K | 3,387 | 0.1% | 31 |
| INVESCO EXCH TRADED FD TR II | [SPLV](https://holderbook.com/stocks/SPLV/) | $330.8K | 4,691 | 0.1% | 32 |
| VANGUARD ADMIRAL FDS INC | [VOOG](https://holderbook.com/stocks/VOOG/) | $328.3K | 3,841 | 0.1% | 2 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $299.9K | 3,614 | 0.0% | 5 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $297.2K | 1,518 | 0.0% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $281.3K | 801 | 0.0% | 4 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $279.6K | 4,019 | 0.0% | 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 |
|---|---|---|---|---|
| Q2 2026 | +10.5% | +14.8% | -4.3% | 99% |
| Q1 2026 | -2.8% | -4.6% | +1.8% | 99% |
| Q4 2025 | +1.8% | +2.4% | -0.6% | 93% |
| Q3 2025 | +4.7% | +7.8% | -3.2% | 98% |
| Q2 2025 | +7.6% | +10.5% | -2.8% | 98% |
| Q1 2025 | -2.7% | -4.6% | +1.8% | 98% |
| Q4 2024 | +0.5% | +2.1% | -1.7% | 98% |
| Q3 2024 | +4.9% | +5.4% | -0.5% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2026 | $627.5M | 74 |
| Q2 2026 | $614.9M | 73 |
| Q1 2026 | $555.2M | 69 |
| Q4 2025 | $546.3M | 72 |
| Q3 2025 | $556.4M | 74 |
| Q2 2025 | $526.4M | 70 |
| Q1 2025 | $500.2M | 74 |
| Q4 2024 | $508.3M | 73 |
| Q3 2024 | $493.1M | 73 |
| Q2 2024 | $464.6M | 72 |
| Q1 2024 | $450.7M | 72 |
| Q4 2023 | $423.1M | 69 |