SEC 13F Intelligence

Managers / Q2 2025 · view latest →

NDWM LLC

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

Reported Value
$137M
Q2 2025
Positions
31
Filings on Record
10
2019–present window
Filed
Jul 31, 2025
original filing

Summary

Ndwm LLC reported $137M in U.S.-listed holdings across 31 positions for Q2 2025.

The portfolio is heavily concentrated: Ishares Tr alone accounts for 30.4% of reported value.

Compared with Q1 2025, the fund opened 3 new positions and exited 5.

Portfolio Metrics

Turnover
+8.0%
vs prior filed quarter
Top-10 Concentration
+84.8%
share of reported value
Largest Position
+30.4%
Ishares Tr
New / Exited
3 / 5
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: 93.3%Common Stock: 6.7%
  • ETP · 93.3% · $127M
  • Common Stock · 6.7% · $9M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VANGUARD CALIF TAX FREE FDSNEW+25.0K25.0K+$2M$2M
BLACKROCK ETF TRUST IINEW+37.2K37.2K+$2M$2M
DDOMINION ENERGY INCNEW+5.5K5.5K+$310,860$310,860
SPDR S&P 500 ETF TRADDED+36.4K42.5K+$23M$26M
GQ9SPDR GOLD TRADDED+14.3K19.2K+$4M$6M
ISHARES TRADDED+11.6K16.9K+$1M$2M
ISHARES TRADDED+10.5K15.8K+$1M$2M
ISHARES TRADDED+52.9K96.5K+$3M$5M

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

Holdings — Q2 2025

20 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRCORE S&P500 ETF · CALIF MUN BD ETF · CORE US AGGBD ET · SHRT NAT MUN ETF · NATIONAL MUN ETF · 1 3 YR TREAS BD · 0-5YR INVT GR CP · 0-5YR HI YL CP · NEW YORK MUN ETF · 3 7 YR TREAS BD42.58%$58M308.8K
2SPDR S&P 500 ETF TRTR UNIT19.23%$26M42.5K
3SPDR SERIES TRUSTBLOOMBERG 3-12 M · BLOOMBERG 1-3 MO · PRTFLO S&P500 HI16.06%$22M233.8K
4INVESCO EXCHANGE TRADED FD TS&P500 EQL WGT4.90%$7M36.8K
5GQ9SPDR GOLD TRhistory →GOLD SHS4.28%$6M19.2K
6BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW2.54%$3M7.2K
7VANGUARD CALIF TAX FREE FDSTAX EXEMPT BD FD1.78%$2M25.0K
8NOWSERVICENOW INChistory →COM1.77%$2M2.3K
9SELECT SECTOR SPDR TRTECHNOLOGY1.44%$2M7.8K
10BLACKROCK ETF TRUST IIISHARES SHORT-TE1.37%$2M37.2K
11NDQINVESCO QQQ TRUNIT SER 10.87%$1M2.2K
12TSLATESLA INCCOM0.81%$1M3.5K
13AAPLAPPLE INCCOM0.51%$694,7533.4K
14WISDOMTREE TRUS EFFICIENT COR0.45%$618,10112.3K
15INVESCO EXCH TRADED FD TR IINY AMT FRE MUN0.32%$436,28420.2K
16MSFTMICROSOFT CORPCOM0.30%$416,332837
17DDOMINION ENERGY INCCOM0.23%$310,8605.5K
18METAMETA PLATFORMS INCCL A0.20%$279,388379
19BABOEING COCOM0.19%$257,0931.2K
20LLYELI LILLY & COCOM0.15%$210,473270

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 ↗.