NDWM LLC Concentrated Active

Location: La Jolla, CA

CIK: 0001818386 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 5, 2026

Total Value: $151M (100.0% shares, 0.0% debt)

Holdings (34)

IVV ISHARES TR 30.8%

Value $46.62M Shares 68,062 Est. Cost $485.47 Unrealized —

SPY SPDR S&P 500 ETF TR 19.9%

Value $30.07M Shares 44,102 Est. Cost $610.64 Unrealized —

BILS SPDR SERIES TRUST 9.2%

Value $13.88M Shares 139,858 Est. Cost $99.15 Unrealized —

GLD SPDR GOLD TR 5.3%

Value $8.066M Shares 20,354 Est. Cost $290.38 Unrealized —

BIL SPDR SERIES TRUST 5.1%

Value $7.639M Shares 83,598 Est. Cost $91.42 Unrealized —

CMF ISHARES TR 3.1%

Value $4.64M Shares 80,755 Est. Cost $56.18 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 3.0%

Value $4.487M Shares 23,423 Est. Cost $161.26 Unrealized —

VTEC VANGUARD CALIF TAX FREE FDS 2.3%

Value $3.523M Shares 35,138 Est. Cost $98.31 Unrealized —

CALI BLACKROCK ETF TRUST II 2.2%

Value $3.282M Shares 65,051 Est. Cost $50.53 Unrealized —

AGG ISHARES TR 2.1%

Value $3.217M Shares 32,204 Est. Cost $99.06 Unrealized —

EEM ISHARES TR 2.1%

Value $3.15M Shares 57,581 Est. Cost $53.55 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 1.8%

Value $2.716M Shares 5,403 Est. Cost $420.03 Unrealized +18.5%

XLK SELECT SECTOR SPDR TR 1.4%

Value $2.151M Shares 14,944 Est. Cost $169.14 Unrealized —

SUB ISHARES TR 1.3%

Value $2.025M Shares 18,976 Est. Cost $106.30 Unrealized —

MUB ISHARES TR 1.3%

Value $1.913M Shares 17,857 Est. Cost $105.09 Unrealized —

SLQD ISHARES TR 1.2%

Value $1.82M Shares 35,899 Est. Cost $49.81 Unrealized —

NOW SERVICENOW INC 1.2%

Value $1.799M Shares 11,744 Est. Cost $163.14 Unrealized +5.1%

TSLA TESLA INC 1.0%

Value $1.445M Shares 3,213 Est. Cost $238.40 Unrealized +85.9%

QQQ INVESCO QQQ TR 0.9%

Value $1.318M Shares 2,146 Est. Cost $415.25 Unrealized —

SHY ISHARES TR 0.9%

Value $1.311M Shares 15,828 Est. Cost $82.46 Unrealized —

SHYG ISHARES TR 0.7%

Value $1.071M Shares 24,975 Est. Cost $42.58 Unrealized —

AAPL APPLE INC 0.6%

Value $976K Shares 3,590 Est. Cost $185.75 Unrealized +44.5%

NTSX WISDOMTREE TR 0.4%

Value $675K Shares 12,309 Est. Cost $39.30 Unrealized —

SPYD SPDR SERIES TRUST 0.3%

Value $523K Shares 12,084 Est. Cost $44.26 Unrealized —

IEI ISHARES TR 0.3%

Value $449K Shares 3,758 Est. Cost $118.23 Unrealized —

MSFT MICROSOFT CORP 0.3%

Value $403K Shares 833 Est. Cost $350.36 Unrealized +42.9%

META META PLATFORMS INC 0.3%

Value $386K Shares 585 Est. Cost $651.41 Unrealized +2.4%

D DOMINION ENERGY INC 0.2%

Value $322K Shares 5,500 Est. Cost $53.16 Unrealized +12.4%

LLY ELI LILLY & CO 0.2%

Value $290K Shares 270 Est. Cost $702.49 Unrealized +36.0%

BA BOEING CO 0.2%

Value $266K Shares 1,227 Est. Cost $156.93 Unrealized +31.1%

GOOGL ALPHABET INC 0.2%

Value $266K Shares 850 Est. Cost $209.20 Unrealized +36.5%

CAT CATERPILLAR INC 0.1%

Value $225K Shares 392 Est. Cost $555.50 Unrealized 0.0%

IYW ISHARES TR 0.1%

Value $209K Shares 1,045 Est. Cost $195.86 Unrealized —

AAPL APPLE INC 0.0%

Value $7,290 Shares 3,000 Est. Cost $185.75 Unrealized +44.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	68,062	$46.62M	30.8%	$485.47	—	CORE S&P500 ETF	464287200
SPY	SPDR S&P 500 ETF TR	44,102	$30.07M	19.9%	$610.64	—	TR UNIT	78462F103
BILS	SPDR SERIES TRUST	139,858	$13.88M	9.2%	$99.15	—	STATE STREET SPD	78468R523
GLD	SPDR GOLD TR	20,354	$8.066M	5.3%	$290.38	—	GOLD SHS	78463V107
BIL	SPDR SERIES TRUST	83,598	$7.639M	5.1%	$91.42	—	STATE STREET SPD	78468R663
CMF	ISHARES TR	80,755	$4.64M	3.1%	$56.18	—	CALIF MUN BD ETF	464288356
RSP	INVESCO EXCHANGE TRADED FD T	23,423	$4.487M	3.0%	$161.26	—	S&P500 EQL WGT	46137V357
VTEC	VANGUARD CALIF TAX FREE FDS	35,138	$3.523M	2.3%	$98.31	—	TAX EXEMPT BD FD	922021605
CALI	BLACKROCK ETF TRUST II	65,051	$3.282M	2.2%	$50.53	—	ISHARES SHORT-TE	092528884
AGG	ISHARES TR	32,204	$3.217M	2.1%	$99.06	—	CORE US AGGBD ET	464287226
EEM	ISHARES TR	57,581	$3.15M	2.1%	$53.55	—	MSCI EMG MKT ETF	464287234
BRK/B	BERKSHIRE HATHAWAY INC DEL	5,403	$2.716M	1.8%	$420.03	+18.5%	CL B NEW	084670702
XLK	SELECT SECTOR SPDR TR	14,944	$2.151M	1.4%	$169.14	—	STATE STREET TEC	81369Y803
SUB	ISHARES TR	18,976	$2.025M	1.3%	$106.30	—	SHRT NAT MUN ETF	464288158
MUB	ISHARES TR	17,857	$1.913M	1.3%	$105.09	—	NATIONAL MUN ETF	464288414
SLQD	ISHARES TR	35,899	$1.82M	1.2%	$49.81	—	0-5YR INVT GR CP	46434V100
NOW	SERVICENOW INC	11,744	$1.799M	1.2%	$163.14	+5.1%	COM	81762P102
TSLA	TESLA INC	3,213	$1.445M	1.0%	$238.40	+85.9%	COM	88160R101
QQQ	INVESCO QQQ TR	2,146	$1.318M	0.9%	$415.25	—	UNIT SER 1	46090E103
SHY	ISHARES TR	15,828	$1.311M	0.9%	$82.46	—	1 3 YR TREAS BD	464287457
SHYG	ISHARES TR	24,975	$1.071M	0.7%	$42.58	—	0-5YR HI YL CP	46434V407
AAPL	APPLE INC	3,590	$976K	0.6%	$185.75	+44.5%	COM	037833100
NTSX	WISDOMTREE TR	12,309	$675K	0.4%	$39.30	—	US EFFICIENT COR	97717Y790
SPYD	SPDR SERIES TRUST	12,084	$523K	0.3%	$44.26	—	STATE STREET SPD	78468R788
IEI	ISHARES TR	3,758	$449K	0.3%	$118.23	—	3 7 YR TREAS BD	464288661
MSFT	MICROSOFT CORP	833	$403K	0.3%	$350.36	+42.9%	COM	594918104
META	META PLATFORMS INC	585	$386K	0.3%	$651.41	+2.4%	CL A	30303M102
D	DOMINION ENERGY INC	5,500	$322K	0.2%	$53.16	+12.4%	COM	25746U109
LLY	ELI LILLY & CO	270	$290K	0.2%	$702.49	+36.0%	COM	532457108
BA	BOEING CO	1,227	$266K	0.2%	$156.93	+31.1%	COM	097023105
GOOGL	ALPHABET INC	850	$266K	0.2%	$209.20	+36.5%	CAP STK CL A	02079K305
CAT	CATERPILLAR INC	392	$225K	0.1%	$555.50	0.0%	COM	149123101
IYW	ISHARES TR	1,045	$209K	0.1%	$195.86	—	U.S. TECH ETF	464287721
AAPL	APPLE INC	3,000	$7,290	0.0%	$185.75	+44.5%	Call	037833100