Twele Capital Management

MINNETONKA, MNfiles as Twele Capital Management, Inc.

$612m in 40 US stocks at the end of 30 June 2026. The top 10 are 74.4% of the money. It changed about 1.3% of the portfolio this quarter.

Value

$612m

Stocks

Top 10 share

74.4%

Turnover

1.3%

What changed this quarter

New

Bought for the first time this quarter.

Ishares TRTLT
<0.1% of the fund

Added

Bought more of a stock they already held.

Vanguard BD Index FDSBND
9.7% of the fund
+8%
Ishares TRIEF
8.4% of the fund
+9%
Ishares TRAGG
8.3% of the fund
+8%
Vanguard Scottsdale FDSVCSH
2.6% of the fund
+7%
Ishares TRLQD
2.1% of the fund
+8%
Ishares TRUSHY
1.1% of the fund
+37%
Ishares TRGOVT
0.7% of the fund
+20%
Ishares TRMUB
0.3% of the fund
+49%
Schwab Strategic TRSCHZ
0.2% of the fund
+5%
Vanguard Scottsdale FDSVCIT
0.2% of the fund
+28%
Schwab Strategic TRSCHR
<0.1% of the fund
+10%
Ishares TRSHY
<0.1% of the fund
+5%

Cut

Sold some of their stake.

Ishares TRIVV
11.4% of the fund
-5%
Vanguard Index FDSVOO
10.7% of the fund
-3%
Vanguard Tax-Managed FDSVEA
4.7% of the fund
-2%
Ishares TRIJR
4.0% of the fund
-4%
Vanguard Index FDSVB
3.8% of the fund
-2%
IsharesIEMG
2.8% of the fund
-7%
Vanguard MUN BD FDSVTEB
0.2% of the fund
-29%
Schwab Strategic TRSCHX
0.2% of the fund
-4%
Schwab Strategic TRSCHA
0.2% of the fund
-3%
Schwab Strategic TRSCHF
0.2% of the fund
-6%
Vanguard Index FDSVUG
<0.1% of the fund
-3%
Schwab Strategic TRSCHE
<0.1% of the fund
-3%
Ishares TRDVY
<0.1% of the fund
-6%

Sold out

Sold their entire stake.

None this quarter.

Holdings

Ishares TRIVV
Share
11.4%
Value
$70m
Shares
93,090
-5%
Vanguard Index FDSVOO
Share
10.7%
Value
$66m
Shares
95,820
-3%
Vanguard BD Index FDSBND
Share
9.7%
Value
$59m
Shares
806,604
+8%
Ishares TRIEF
Share
8.4%
Value
$51m
Shares
541,981
+9%
Ishares TRAGG
Share
8.3%
Value
$51m
Shares
515,560
+8%
Vanguard Whitehall FDSVYM
Share
7.6%
Value
$46m
Shares
293,079
Held
Ishares TRIEFA
Share
4.8%
Value
$29m
Shares
305,116
Held
Ishares TRIJH
Share
4.8%
Value
$29m
Shares
378,917
Held
Vanguard Tax-Managed FDSVEA
Share
4.7%
Value
$29m
Shares
404,555
-2%
Ishares TRIJR
Share
4.0%
Value
$25m
Shares
165,931
-4%
Vanguard Index FDSVB
Share
3.8%
Value
$23m
Shares
76,439
-2%
Vanguard Index FDSVO
Share
3.7%
Value
$23m
Shares
280,883
Held
Ishares TRHYG
Share
3.2%
Value
$19m
Shares
242,205
Held
IsharesIEMG
Share
2.8%
Value
$17m
Shares
205,491
-7%
Vanguard Scottsdale FDSVCSH
Share
2.6%
Value
$16m
Shares
200,399
+7%
Vanguard Intl Equity Index FVWO
Share
2.5%
Value
$15m
Shares
253,446
Held
Ishares TRLQD
Share
2.1%
Value
$13m
Shares
117,726
+8%
Ishares TRUSHY
Share
1.1%
Value
$7m
Shares
185,359
+37%
Ishares TRGOVT
Share
0.7%
Value
$4m
Shares
187,305
+20%
Ishares TREFA
Share
0.3%
Value
$2m
Shares
18,881
Held
Ishares TRIEI
Share
0.3%
Value
$2m
Shares
16,501
Held
Ishares TRMUB
Share
0.3%
Value
$2m
Shares
16,623
+49%
Schwab Strategic TRSCHZ
Share
0.2%
Value
$1m
Shares
59,964
+5%
Vanguard MUN BD FDSVTEB
Share
0.2%
Value
$1m
Shares
25,629
-29%
Vanguard Scottsdale FDSVCIT
Share
0.2%
Value
$1m
Shares
15,345
+28%
Schwab Strategic TRSCHX
Share
0.2%
Value
$1m
Shares
38,364
-4%
Schwab Strategic TRSCHA
Share
0.2%
Value
$1m
Shares
30,132
-3%
Schwab Strategic TRSCHO
Share
0.2%
Value
$1m
Shares
44,973
Held
Schwab Strategic TRSCHF
Share
0.2%
Value
$965,542
Shares
34,857
-6%
Schwab Strategic TRSCHB
Share
0.1%
Value
$790,000
Shares
27,279
Held
Ishares TRIWF
Share
0.1%
Value
$769,358
Shares
6,196
Held
AppleAAPL
Share
0.1%
Value
$740,102
Shares
2,558
Held
Schwab Strategic TRSCHM
Share
0.1%
Value
$670,334
Shares
18,181
Held
Schwab Strategic TRSCHR
Share
<0.1%
Value
$569,178
Shares
23,081
+10%
Vanguard Index FDSVUG
Share
<0.1%
Value
$567,232
Shares
6,585
-3%
Ishares TRSHY
Share
<0.1%
Value
$439,782
Shares
5,356
+5%
Schwab Strategic TRSCHE
Share
<0.1%
Value
$357,002
Shares
9,846
-3%
Ishares TRDVY
Share
<0.1%
Value
$350,738
Shares
2,244
-6%
NvidiaNVDA
Share
<0.1%
Value
$299,369
Shares
1,496
Held
Ishares TRTLT
Share
<0.1%
Value
$208,359
Shares
2,411
New

Company	Share of fund	Value	Shares	Change
Ishares TRIVV	11.4%	$70m	93,090	-5%
Vanguard Index FDSVOO	10.7%	$66m	95,820	-3%
Vanguard BD Index FDSBND	9.7%	$59m	806,604	+8%
Ishares TRIEF	8.4%	$51m	541,981	+9%
Ishares TRAGG	8.3%	$51m	515,560	+8%
Vanguard Whitehall FDSVYM	7.6%	$46m	293,079	Held
Ishares TRIEFA	4.8%	$29m	305,116	Held
Ishares TRIJH	4.8%	$29m	378,917	Held
Vanguard Tax-Managed FDSVEA	4.7%	$29m	404,555	-2%
Ishares TRIJR	4.0%	$25m	165,931	-4%
Vanguard Index FDSVB	3.8%	$23m	76,439	-2%
Vanguard Index FDSVO	3.7%	$23m	280,883	Held
Ishares TRHYG	3.2%	$19m	242,205	Held
IsharesIEMG	2.8%	$17m	205,491	-7%
Vanguard Scottsdale FDSVCSH	2.6%	$16m	200,399	+7%
Vanguard Intl Equity Index FVWO	2.5%	$15m	253,446	Held
Ishares TRLQD	2.1%	$13m	117,726	+8%
Ishares TRUSHY	1.1%	$7m	185,359	+37%
Ishares TRGOVT	0.7%	$4m	187,305	+20%
Ishares TREFA	0.3%	$2m	18,881	Held
Ishares TRIEI	0.3%	$2m	16,501	Held
Ishares TRMUB	0.3%	$2m	16,623	+49%
Schwab Strategic TRSCHZ	0.2%	$1m	59,964	+5%
Vanguard MUN BD FDSVTEB	0.2%	$1m	25,629	-29%
Vanguard Scottsdale FDSVCIT	0.2%	$1m	15,345	+28%
Schwab Strategic TRSCHX	0.2%	$1m	38,364	-4%
Schwab Strategic TRSCHA	0.2%	$1m	30,132	-3%
Schwab Strategic TRSCHO	0.2%	$1m	44,973	Held
Schwab Strategic TRSCHF	0.2%	$965,542	34,857	-6%
Schwab Strategic TRSCHB	0.1%	$790,000	27,279	Held
Ishares TRIWF	0.1%	$769,358	6,196	Held
AppleAAPL	0.1%	$740,102	2,558	Held
Schwab Strategic TRSCHM	0.1%	$670,334	18,181	Held
Schwab Strategic TRSCHR	<0.1%	$569,178	23,081	+10%
Vanguard Index FDSVUG	<0.1%	$567,232	6,585	-3%
Ishares TRSHY	<0.1%	$439,782	5,356	+5%
Schwab Strategic TRSCHE	<0.1%	$357,002	9,846	-3%
Ishares TRDVY	<0.1%	$350,738	2,244	-6%
NvidiaNVDA	<0.1%	$299,369	1,496	Held
Ishares TRTLT	<0.1%	$208,359	2,411	New

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 21.5% since 30 June 2025.

Where the money is

Technology0.2%

Other99.8%

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.