SEC 13F Intelligence

Managers / Q1 2025 · view latest →

NDWM LLC

CIK 0001818386 · 4250 EXECUTIVE SQUARE, SUITE 545, LA JOLLA, CA, 92037 · (858) 457-1325

Reported Value
$102M
Q1 2025
Positions
33
Filings on Record
10
2019–present window
Filed
May 2, 2025
original filing

Summary

Ndwm LLC reported $102M in U.S.-listed holdings across 33 positions for Q1 2025.

The portfolio is heavily concentrated: Ishares Tr alone accounts for 36.1% of reported value.

Compared with Q4 2024, the fund opened 5 new positions and exited 3.

Portfolio Metrics

Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+84.7%
share of reported value
Largest Position
+36.1%
Ishares Tr
New / Exited
5 / 3
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
Q4 ’23: $104MQ4 ’23Q1 ’24: $110MQ2 ’24: $113MQ2 ’24Q3 ’24: $121MQ4 ’24: $120MQ4 ’24Q1 ’25: $102MQ2 ’25: $137MQ2 ’25Q3 ’25: $147MQ4 ’25: $151MQ4 ’25Q1 ’26: $154Mfilingsflow.com

Portfolio Composition

By security type
ETP: 91.8%Common Stock: 7.8%Closed-End Fund: 0.4%
  • ETP · 91.8% · $94M
  • Common Stock · 7.8% · $8M
  • Closed-End Fund · 0.4% · $458,704

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+5.3K5.3K+$562,733$562,733
ISHARES TRNEW+5.3K5.3K+$558,518$558,518
SPDR SER TRNEW+12.0K12.0K+$530,304$530,304
ISHARES TRNEW+3.5K3.5K+$412,559$412,559
METAMETA PLATFORMS INCNEW+373373+$215,163$215,163
ISHARES TRADDED+31.1K43.6K+$2M$2M
ISHARES TRADDED+13.1K19.4K+$554,724$825,010
ISHARES TRSOLD OUT−22.1K0−$3M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2025

19 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRCORE S&P500 ETF · CORE US AGGBD ET · CALIF MUN BD ETF · 1 3 YR TREAS BD · 0-5YR INVT GR CP · 0-5YR HI YL CP · NEW YORK MUN ETF · NATIONAL MUN ETF · SHRT NAT MUN ETF · 3 7 YR TREAS BD · RUS 2000 VAL ETF · SP SMCP600VL ETF47.48%$49M234.8K
2SPDR SER TRBLOOMBERG 3-12 M · BLOOMBERG 1-3 MO · PRTFLO S&P500 HI27.41%$28M297.7K
3INVESCO EXCHANGE TRADED FD TS&P500 EQL WGT6.24%$6M36.8K
4SPDR S&P 500 ETF TRTR UNIT3.31%$3M6.1K
5BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW3.27%$3M6.3K
6NOWSERVICENOW INChistory →COM1.98%$2M2.5K
7ALPS ETF TREQUAL SEC ETF1.94%$2M15.7K
8XLESELECT SECTOR SPDR TRTECHNOLOGY · ENERGY1.82%$2M10.2K
9GQ9SPDR GOLD TRhistory →GOLD SHS1.37%$1M4.9K
10NDQINVESCO QQQ TRUNIT SER 10.95%$968,4582.1K
11TSLATESLA INCCOM0.88%$897,2123.5K
12AAPLAPPLE INCCOM0.73%$747,3423.4K
13INVESCO EXCH TRADED FD TR IINY AMT FRE MUN0.63%$649,51929.4K
14WISDOMTREE TRUS EFFICIENT COR0.61%$626,56313.8K
15SPROTT PHYSICAL GOLD TRUNIT0.45%$458,70419.1K
16MSFTMICROSOFT CORPCOM0.31%$313,826836
17LLYELI LILLY & COCOM0.22%$222,996270
18METAMETA PLATFORMS INCCL A0.21%$215,163373
19BABOEING COCOM0.20%$209,2651.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$154M38Apr 27, 202613F-HRchanges · EDGAR ↗
Q4 2025$151M34Feb 5, 202613F-HRchanges · EDGAR ↗
Q3 2025$147M34Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$137M31Jul 31, 202513F-HRchanges · EDGAR ↗
Q1 2025$102M33May 2, 202513F-HRchanges · EDGAR ↗
Q4 2024$120M31Feb 5, 202513F-HRchanges · EDGAR ↗
Q3 2024$121M32Oct 22, 202413F-HRchanges · EDGAR ↗
Q2 2024$113M33Aug 1, 202413F-HRchanges · EDGAR ↗
Q1 2024$110M32Apr 19, 202413F-HRchanges · EDGAR ↗
Q4 2023$104M29Feb 12, 202413F-HRchanges · 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 ↗.