Managers / Q4 2023 · view latest →
NDWM LLC
CIK 0001818386 · 4250 EXECUTIVE SQUARE, SUITE 545, LA JOLLA, CA, 92037 · (858) 457-1325
Summary
Ndwm LLC reported $104M in U.S.-listed holdings across 29 positions for Q4 2023.
The portfolio is heavily concentrated: Ishares Tr alone accounts for 30.9% of reported value.
Portfolio Metrics
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
Portfolio Composition
- ETP · 95.3% · $99M
- Common Stock · 4.5% · $5M
- Closed-End Fund · 0.2% · $225,473
Quarter-over-Quarter Changes full breakdown →
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ISHARES TR | NEW | +67.2K | 67.2K | +$32M | $32M |
| SPDR SER TR | NEW | +184.7K | 184.7K | +$18M | $18M |
| SPDR SER TR | NEW | +172.4K | 172.4K | +$16M | $16M |
| ISHARES TR | NEW | +71.1K | 71.1K | +$7M | $7M |
| INVESCO EXCHANGE TRADED FD T | NEW | +31.5K | 31.5K | +$5M | $5M |
| SELECT SECTOR SPDR TR | NEW | +19.3K | 19.3K | +$4M | $4M |
| WISDOMTREE TR | NEW | +78.4K | 78.4K | +$3M | $3M |
| SPDR S&P 500 ETF TR | NEW | +5.7K | 5.7K | +$3M | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ISHARES TR | CORE S&P500 ETF · 20 YR TR BD ETF · 0-5YR INVT GR CP · 1 3 YR TREAS BD · SP SMCP600VL ETF · CORE US AGGBD ET · NEW YORK MUN ETF · RUS 2000 VAL ETF · 0-5YR HI YL CP · CALIF MUN BD ETF | 44.65% | $46M | 244.5K |
| 2 | SPDR SER TR | BLOOMBERG 3-12 M · BLOOMBERG 1-3 MO | 32.77% | $34M | 357.1K |
| 3 | INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 4.79% | $5M | 31.5K |
| 4 | XLESELECT SECTOR SPDR TR | TECHNOLOGY · ENERGY | 3.84% | $4M | 22.6K |
| 5 | WISDOMTREE TR | US EFFICIENT COR | 2.96% | $3M | 78.4K |
| 6 | SPDR S&P 500 ETF TR | TR UNIT | 2.63% | $3M | 5.7K |
| 7 | NDQINVESCO QQQ TRhistory → | UNIT SER 1 | 2.48% | $3M | 6.3K |
| 8 | NOWSERVICENOW INChistory → | COM | 1.63% | $2M | 2.4K |
| 9 | TSLATESLA INC | COM | 0.87% | $905,709 | 3.6K |
| 10 | INVESCO EXCH TRADED FD TR II | NY AMT FRE MUN | 0.64% | $660,562 | 28.6K |
| 11 | AAPLAPPLE INC | COM | 0.61% | $637,078 | 3.3K |
| 12 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW | 0.54% | $560,670 | 1.6K |
| 13 | GQ9SPDR GOLD TR | GOLD SHS | 0.53% | $546,173 | 2.9K |
| 14 | BABOEING CO | COM | 0.31% | $319,830 | 1.2K |
| 15 | MSFTMICROSOFT CORP | COM | 0.30% | $314,370 | 836 |
| 16 | SPROTT PHYSICAL GOLD TR | UNIT | 0.22% | $225,473 | 14.2K |
| 17 | CPBCAMPBELL SOUP CO | COM | 0.20% | $203,570 | 4.7K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $154M | 38 | Apr 27, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $151M | 34 | Feb 5, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $147M | 34 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $137M | 31 | Jul 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $102M | 33 | May 2, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $120M | 31 | Feb 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $121M | 32 | Oct 22, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $113M | 33 | Aug 1, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $110M | 32 | Apr 19, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $104M | 29 | Feb 12, 2024 | 13F-HR | 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 ↗.