Managers / Q4 2025 · view latest →
Keudell/Morrison Wealth Management
CIK 0001785498 · 235 FRONT ST SE, STE 300, SALEM, OR, 97301 · 9712094500
Reported Value
$476M
Q4 2025
Positions
232
Filings on Record
30
2019–present window
Filed
Feb 6, 2026
original filing
Summary
Keudell/Morrison Wealth Management reported $476M in U.S.-listed holdings across 232 positions for Q4 2025.
Its largest position, Tcw Etf, represents 9.9% of the portfolio.
Compared with Q2 2025, the fund opened 32 new positions and exited 28.
Portfolio Metrics
Turnover
+24.6%
vs prior filed quarter
Top-10 Concentration
+45.6%
share of reported value
Largest Position
+9.9%
Tcw Etf
New / Exited
32 / 28
positions this quarter
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- ETP · 59.6% · $284M
- Common Stock · 37.1% · $177M
- ADR · 1.1% · $5M
- Other · 0.9% · $4M
- REIT · 0.8% · $4M
- Other · 0.5% · $2M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline) · note: prior filed quarter, not the immediately preceding one
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TCW ETF TRUST | NEW | +1.18M | 1.18M | +$47M | $47M |
| LVHILEGG MASON ETF INVT | NEW | +241.0K | 241.0K | +$9M | $9M |
| TOTALENERGIES SE | NEW | +14.1K | 14.1K | +$920,757 | $920,757 |
| VANGUARD BD INDEX FDS | NEW | +8.0K | 8.0K | +$632,325 | $632,325 |
| VUSBVANGUARD BD INDEX FDS | NEW | +10.0K | 10.0K | +$498,400 | $498,400 |
| ISHARES TR | NEW | +1.0K | 1.0K | +$478,506 | $478,506 |
| VANECK ETF TRUST | NEW | +19.5K | 19.5K | +$447,098 | $447,098 |
| SELECT SECTOR SPDR TR | NEW | +2.8K | 2.8K | +$439,187 | $439,187 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
45 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SCHWAB STRATEGIC TR | US DIVIDEND EQ · FUNDAMENTAL INTL · US LCAP GR ETF | 14.57% | $69M | 2.21M |
| 2 | TCW ETF TRUST | FLEXIBLE INCOME | 9.86% | $47M | 1.18M |
| 3 | DFACDIMENSIONAL ETF TRUST | US CORE EQUITY 2 · EMERGING MRKTETS | 6.51% | $31M | 668.1K |
| 4 | VANGUARD WHITEHALL FDS | EM MK GOV BD ETF · HIGH DIV YLD | 6.41% | $30M | 368.0K |
| 5 | AAPLAPPLE INChistory → | COM | 3.75% | $18M | 65.6K |
| 6 | SIMPLIFY EXCHANGE TRADED FUN | HEDGED EQUITY | 3.48% | $17M | 517.1K |
| 7 | GOOGALPHABET INC | CAP STK CL C · CAP STK CL A | 2.75% | $13M | 41.7K |
| 8 | TORTOISE CAPITAL SERIES TRUS | NORTH AMERN PIPE | 2.29% | $11M | 309.2K |
| 9 | MSFTMICROSOFT CORPhistory → | COM | 2.01% | $10M | 19.8K |
| 10 | LVHILEGG MASON ETF INVThistory → | FRANKLIN INTL LW | 1.86% | $9M | 241.0K |
| 11 | VANGUARD INDEX FDS | REAL ESTATE ETF | 1.86% | $9M | 100.1K |
| 12 | J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 1.83% | $9M | 172.6K |
| 13 | AMZNAMAZON COM INChistory → | COM | 1.65% | $8M | 34.1K |
| 14 | CAPITAL GRP FIXED INCM ETF T | MUNICIPAL HIGH I | 1.18% | $6M | 219.9K |
| 15 | LLYELI LILLY & COhistory → | COM | 1.16% | $6M | 5.1K |
| 16 | EXMOCEXXON MOBIL CORP | COM | 0.97% | $5M | 38.3K |
| 17 | ABBVABBVIE INC | COM | 0.96% | $5M | 20.0K |
| 18 | VDEVANGUARD WORLD FD | ENERGY ETF | 0.94% | $4M | 35.6K |
| 19 | SELECT SECTOR SPDR TR | STATE STREET TEC | 0.91% | $4M | 30.2K |
| 20 | VVISA INC | COM CL A | 0.84% | $4M | 11.4K |
| 21 | NVDANVIDIA CORPORATION | COM | 0.83% | $4M | 21.1K |
| 22 | NDQINVESCO QQQ TR | UNIT SER 1 | 0.81% | $4M | 6.3K |
| 23 | LRCXLAM RESEARCH CORP | COM NEW | 0.75% | $4M | 20.8K |
| 24 | CATCATERPILLAR INC | COM | 0.72% | $3M | 6.0K |
| 25 | HDHOME DEPOT INC | COM | 0.67% | $3M | 9.2K |
| 26 | SPDR SERIES TRUST | STATE STREET SPD | 0.67% | $3M | 29.7K |
| 27 | RTXRTX CORPORATION | COM | 0.66% | $3M | 17.2K |
| 28 | 4I1PHILIP MORRIS INTL INC | COM | 0.62% | $3M | 18.4K |
| 29 | JPMJPMORGAN CHASE & CO. | COM | 0.60% | $3M | 8.9K |
| 30 | USBUS BANCORP DEL | COM NEW | 0.60% | $3M | 53.5K |
| 31 | CHVCHEVRON CORP NEW | COM | 0.57% | $3M | 17.7K |
| 32 | QCOMQUALCOMM INC | COM | 0.51% | $2M | 14.2K |
| 33 | BACVERIZON COMMUNICATIONS INC | COM | 0.46% | $2M | 53.3K |
| 34 | SYKSTRYKER CORPORATION | COM | 0.45% | $2M | 6.1K |
| 35 | METAMETA PLATFORMS INC | CL A | 0.44% | $2M | 3.1K |
| 36 | GILDGILEAD SCIENCES INC | COM | 0.41% | $2M | 16.0K |
| 37 | NKENIKE INC | CL B | 0.41% | $2M | 30.3K |
| 38 | VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 0.39% | $2M | 8.5K |
| 39 | JNJJOHNSON & JOHNSON | COM | 0.38% | $2M | 8.7K |
| 40 | ORCLORACLE CORP | COM | 0.38% | $2M | 9.3K |
| 41 | ISHARES TR | CORE DIV GRWTH | 0.38% | $2M | 25.9K |
| 42 | ELVELEVANCE HEALTH INC FORMERLY | COM | 0.37% | $2M | 5.0K |
| 43 | AMGNAMGEN INC | COM | 0.37% | $2M | 5.4K |
| 44 | MOALTRIA GROUP INC | COM | 0.37% | $2M | 30.3K |
| 45 | CRMSALESFORCE INC | COM | 0.36% | $2M | 6.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $489M | 245 | Apr 20, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $476M | 232 | Feb 6, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $451M | 228 | Jul 22, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $424M | 218 | Apr 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $384M | 220 | Jan 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $368M | 219 | Oct 31, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $342M | 206 | Jul 16, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $330M | 204 | May 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $303M | 191 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $328M | 179 | Oct 18, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $347M | 186 | Jul 20, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $340M | 183 | Apr 18, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $312M | 184 | Jan 20, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $267M | 174 | Oct 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $275M | 171 | Jul 18, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $239M | 175 | Apr 18, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $253M | 188 | Feb 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $233M | 177 | Oct 20, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $183M | 167 | Jul 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $172M | 168 | Apr 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $158M | 156 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $156M | 148 | Oct 20, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $121M | 141 | Jul 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $102M | 136 | Apr 20, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $145M | 154 | Jan 29, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $121M | 151 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $114M | 142 | Aug 23, 2019 | RESTATEMENT | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.