Ndwm

LA JOLLA, CAfiles as NDWM LLC

$170m in 38 US stocks at the end of 30 June 2026. The top 10 are 74.1% of the money. It changed about 6.7% of the portfolio this quarter.

Value

$170m

Stocks

Top 10 share

74.1%

Turnover

6.7%

What changed this quarter

New

Bought for the first time this quarter.

Ishares TRIEF
0.6% of the fund
Vanguard Index FDSVOO
0.2% of the fund
Ishares TRIYW
0.2% of the fund
Advanced Micro DevicesAMD
0.1% of the fund

Added

Bought more of a stock they already held.

Invesco Exchange Traded FD TRSP
9.6% of the fund
+11%
Ishares TRAGG
7.4% of the fund
+7%
Ishares TRSLQD
4.4% of the fund
+17%
Ishares TRVLUE
3.2% of the fund
+7%
Ishares TREEM
3.0% of the fund
+3%
Ishares TRACWX
2.8% of the fund
+4%
Ishares TRIWM
2.8% of the fund
+8%
Blackrock ETF Trust IICALI
2.6% of the fund
+6%
Vanguard Calif TAX Free FDSVTEC
2.6% of the fund
+4%
Ishares TRSHY
0.9% of the fund
+22%
Ishares TRIEI
0.7% of the fund
+156%
Spdr Series TrustSPYD
0.7% of the fund
+50%
AppleAAPL
0.6% of the fund
+4%
AlphabetGOOGL
0.2% of the fund
+10%
MicrosoftMSFT
0.2% of the fund
+8%
Meta PlatformsMETA
0.1% of the fund
+9%

Cut

Sold some of their stake.

Spdr Series TrustBILS
5.7% of the fund
-12%
State STR Spdr S&P 500 ETF TSPY
4.1% of the fund
-17%
Spdr Series TrustBIL
2.0% of the fund
-20%
Ishares TRSHYG
0.3% of the fund
-58%

Sold out

Sold their entire stake.

ServiceNowNOW
-100%
Dominion EnergyD
-100%
Sprott Asset Management LPPHYS
-100%

Holdings

Ishares TRIVV
Share
28.7%
Value
$49m
Shares
65,309
Held
Invesco Exchange Traded FD TRSP
Share
9.6%
Value
$16m
Shares
77,021
+11%
Ishares TRAGG
Share
7.4%
Value
$13m
Shares
127,840
+7%
Spdr Series TrustBILS
Share
5.7%
Value
$10m
Shares
98,197
-12%
Spdr Gold TRGLD
Share
4.7%
Value
$8m
Shares
21,943
Held
Ishares TRSLQD
Share
4.4%
Value
$8m
Shares
150,111
+17%
State STR Spdr S&P 500 ETF TSPY
Share
4.1%
Value
$7m
Shares
9,264
-17%
Ishares TRVLUE
Share
3.2%
Value
$5m
Shares
26,976
+7%
Ishares TRCMF
Share
3.1%
Value
$5m
Shares
92,199
Held
Ishares TREEM
Share
3.0%
Value
$5m
Shares
75,626
+3%
Ishares TRACWX
Share
2.8%
Value
$5m
Shares
62,953
+4%
Ishares TRIWM
Share
2.8%
Value
$5m
Shares
15,655
+8%
Blackrock ETF Trust IICALI
Share
2.6%
Value
$4m
Shares
88,772
+6%
Vanguard Calif TAX Free FDSVTEC
Share
2.6%
Value
$4m
Shares
43,280
+4%
Spdr Series TrustBIL
Share
2.0%
Value
$3m
Shares
37,596
-20%
Select Sector Spdr TRXLK
Share
1.6%
Value
$3m
Shares
14,470
Held
Berkshire HathawayBRK-B
Share
1.5%
Value
$3m
Shares
4,999
Held
Ishares TRSUB
Share
1.2%
Value
$2m
Shares
19,945
Held
Ishares TRMUB
Share
1.2%
Value
$2m
Shares
19,540
Held
Ishares TRSHY
Share
0.9%
Value
$2m
Shares
18,454
+22%
Invesco QQQ TRQQQ
Share
0.9%
Value
$2m
Shares
2,055
Held
TeslaTSLA
Share
0.8%
Value
$1m
Shares
3,141
Held
Ishares TRIEI
Share
0.7%
Value
$1m
Shares
9,646
+156%
Spdr Series TrustSPYD
Share
0.7%
Value
$1m
Shares
23,451
+50%
AppleAAPL
Share
0.6%
Value
$1m
Shares
3,663
+4%
Ishares TRIEF
Share
0.6%
Value
$1m
Shares
11,163
New
Wisdomtree TRNTSX
Share
0.4%
Value
$699,692
Shares
11,849
Held
Ishares TRSHYG
Share
0.3%
Value
$456,693
Shares
10,769
-58%
CaterpillarCAT
Share
0.2%
Value
$417,441
Shares
392
Held
AlphabetGOOGL
Share
0.2%
Value
$388,956
Shares
1,088
+10%
Vanguard Index FDSVOO
Share
0.2%
Value
$375,490
Shares
547
New
MicrosoftMSFT
Share
0.2%
Value
$292,448
Shares
784
+8%
Eli LillyLLY
Share
0.2%
Value
$272,271
Shares
227
Held
BoeingBA
Share
0.2%
Value
$265,609
Shares
1,227
Held
Ishares TRIYW
Share
0.2%
Value
$263,580
Shares
1,045
New
Advanced Micro DevicesAMD
Share
0.1%
Value
$221,908
Shares
382
New
Meta PlatformsMETA
Share
0.1%
Value
$217,145
Shares
385
+9%
Select Sector Spdr TRXLE
Share
0.1%
Value
$202,808
Shares
3,819
Held

Company	Share of fund	Value	Shares	Change
Ishares TRIVV	28.7%	$49m	65,309	Held
Invesco Exchange Traded FD TRSP	9.6%	$16m	77,021	+11%
Ishares TRAGG	7.4%	$13m	127,840	+7%
Spdr Series TrustBILS	5.7%	$10m	98,197	-12%
Spdr Gold TRGLD	4.7%	$8m	21,943	Held
Ishares TRSLQD	4.4%	$8m	150,111	+17%
State STR Spdr S&P 500 ETF TSPY	4.1%	$7m	9,264	-17%
Ishares TRVLUE	3.2%	$5m	26,976	+7%
Ishares TRCMF	3.1%	$5m	92,199	Held
Ishares TREEM	3.0%	$5m	75,626	+3%
Ishares TRACWX	2.8%	$5m	62,953	+4%
Ishares TRIWM	2.8%	$5m	15,655	+8%
Blackrock ETF Trust IICALI	2.6%	$4m	88,772	+6%
Vanguard Calif TAX Free FDSVTEC	2.6%	$4m	43,280	+4%
Spdr Series TrustBIL	2.0%	$3m	37,596	-20%
Select Sector Spdr TRXLK	1.6%	$3m	14,470	Held
Berkshire HathawayBRK-B	1.5%	$3m	4,999	Held
Ishares TRSUB	1.2%	$2m	19,945	Held
Ishares TRMUB	1.2%	$2m	19,540	Held
Ishares TRSHY	0.9%	$2m	18,454	+22%
Invesco QQQ TRQQQ	0.9%	$2m	2,055	Held
TeslaTSLA	0.8%	$1m	3,141	Held
Ishares TRIEI	0.7%	$1m	9,646	+156%
Spdr Series TrustSPYD	0.7%	$1m	23,451	+50%
AppleAAPL	0.6%	$1m	3,663	+4%
Ishares TRIEF	0.6%	$1m	11,163	New
Wisdomtree TRNTSX	0.4%	$699,692	11,849	Held
Ishares TRSHYG	0.3%	$456,693	10,769	-58%
CaterpillarCAT	0.2%	$417,441	392	Held
AlphabetGOOGL	0.2%	$388,956	1,088	+10%
Vanguard Index FDSVOO	0.2%	$375,490	547	New
MicrosoftMSFT	0.2%	$292,448	784	+8%
Eli LillyLLY	0.2%	$272,271	227	Held
BoeingBA	0.2%	$265,609	1,227	Held
Ishares TRIYW	0.2%	$263,580	1,045	New
Advanced Micro DevicesAMD	0.1%	$221,908	382	New
Meta PlatformsMETA	0.1%	$217,145	385	+9%
Select Sector Spdr TRXLE	0.1%	$202,808	3,819	Held

Options (1)

AppleAAPL
Type
Call
Value
$4,320
Contracts
30

Company	Type	Value	Contracts
AppleAAPL	Call	$4,320	30

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 24.6% since 30 June 2025.

Where the money is

Financial services1.5%

Technology0.9%

Retail & consumer0.8%

Industrials0.4%

Media & telecom0.4%

Health care0.2%

Other95.9%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.