NDWM LLC

Q4 2025 13F-HR Holdings

Location
La Jolla, CA
Holdings as of
12/31/2025
Date filed
2/5/2026
Form type
13F-HR
Num holdings
34
Total value ($000)
$151,139
Net value change ($000)
+3,764 (2.6%)
New positions
1
Sold out positions
2
Turnover %
0.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
IVV 1,993 4.5%
SPY 1,801 6.4%
GLD 1,146 16.6%
VTEC 529 17.7%
EEM 429 15.8%
SLQD 257 16.4%
CAT 225 NEW
CALI 222 7.3%
AGG 210 7.0%
RSP 205 4.8%
Top Reduces (Value $000, Stocks/ETFs)
BRK-B -824 -23.3%
NYF -671 -100.0%
SUB -521 -20.5%
PZT -448 -100.0%
BILS -377 -2.6%
NOW -363 -16.8%
BIL -266 -3.4%
TSLA -114 -7.3%
MUB -108 -5.3%
XLK -34 -1.6%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 7 (0.0% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type