Managers / Q2 2024 · view latest →
NDWM LLC
CIK 0001818386 · 4250 EXECUTIVE SQUARE, SUITE 545, LA JOLLA, CA, 92037 · (858) 457-1325
Summary
Ndwm LLC reported $113M in U.S.-listed holdings across 33 positions for Q2 2024.
The portfolio is heavily concentrated: Ishares Tr alone accounts for 33.8% of reported value.
Compared with Q1 2024, the fund opened 2 new positions and exited 1.
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 · 94.3% · $106M
- Common Stock · 5.4% · $6M
- Closed-End Fund · 0.3% · $344,314
Quarter-over-Quarter Changes full breakdown →
vs Q1 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| DIREXION SHS ETF TR | NEW | +19.5K | 19.5K | +$664,656 | $664,656 |
| PROSHARES TR | NEW | +14.7K | 14.7K | +$168,338 | $168,338 |
| BRK/BBERKSHIRE HATHAWAY INC DEL | ADDED | +2.4K | 4.2K | +$961,488 | $2M |
| SPDR SER TR | SOLD OUT | −6.4K | 0 | −$603,311 | $0 |
| ISHARES TR | TRIMMED | −2.0K | 6.3K | −$88,267 | $266,806 |
| ISHARES TR | TRIMMED | −1.7K | 13.7K | −$144,402 | $1M |
| SPDR S&P 500 ETF TR | ADDED | +572 | 6.6K | +$439,811 | $4M |
| ISHARES TR | TRIMMED | −3.1K | 30.0K | −$151,349 | $1M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ISHARES TR | CORE S&P500 ETF · 20 YR TR BD ETF · SP SMCP600VL ETF · 0-5YR INVT GR CP · 1 3 YR TREAS BD · CORE US AGGBD ET · NEW YORK MUN ETF · RUS 2000 VAL ETF · CALIF MUN BD ETF · 0-5YR HI YL CP | 44.22% | $50M | 220.4K |
| 2 | SPDR SER TR | BLOOMBERG 3-12 M · BLOOMBERG 1-3 MO | 29.71% | $34M | 350.6K |
| 3 | INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 4.79% | $5M | 32.9K |
| 4 | XLESELECT SECTOR SPDR TR | TECHNOLOGY · ENERGY | 4.09% | $5M | 22.2K |
| 5 | SPDR S&P 500 ETF TR | TR UNIT | 3.20% | $4M | 6.6K |
| 6 | WISDOMTREE TR | US EFFICIENT COR | 3.07% | $3M | 78.8K |
| 7 | NDQINVESCO QQQ TRhistory → | UNIT SER 1 | 2.69% | $3M | 6.3K |
| 8 | NOWSERVICENOW INChistory → | COM | 1.68% | $2M | 2.4K |
| 9 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 1.51% | $2M | 4.2K |
| 10 | AAPLAPPLE INC | COM | 0.62% | $698,142 | 3.3K |
| 11 | TSLATESLA INC | COM | 0.62% | $696,538 | 3.5K |
| 12 | INVESCO EXCH TRADED FD TR II | NY AMT FRE MUN | 0.60% | $674,794 | 29.4K |
| 13 | DIREXION SHS ETF TR | DIREXION HCM | 0.59% | $664,656 | 19.5K |
| 14 | GQ9SPDR GOLD TR | GOLD SHS | 0.54% | $614,284 | 2.9K |
| 15 | ALPS ETF TR | EQUAL SEC ETF | 0.48% | $536,429 | 4.5K |
| 16 | MSFTMICROSOFT CORP | COM | 0.33% | $374,544 | 838 |
| 17 | SPROTT PHYSICAL GOLD TR | UNIT | 0.31% | $344,314 | 19.1K |
| 18 | LLYELI LILLY & CO | COM | 0.23% | $258,939 | 286 |
| 19 | VANGUARD INDEX FDS | S&P 500 ETF SHS | 0.20% | $226,559 | 453 |
| 20 | BABOEING CO | COM | 0.20% | $223,326 | 1.2K |
| 21 | CPBCAMPBELL SOUP CO | COM | 0.19% | $212,800 | 4.7K |
| 22 | PROSHARES TR | ULTRASHORT TECHN | 0.15% | $168,338 | 14.7K |
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 ↗.