NL
Ndwm LLC — 13F Portfolio Report & Top Holdings (Q2 2026)
Ndwm LLCCIK: 0001818386
Momentum followerSector-focusedQuality / disciplined sizing
Total reported value
$170.2M
Reporting period: 2026-06-30 · Number of holdings: 39
NDWM LLC disclosed 39 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $170.2M and a quarterly turnover rate of 17.3%.
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Personality snowflake
- Concentration
- 45.59
- Portfolio Stability
- 17.34
- Momentum
- 100
- Sector conviction
- 77.56
- Diversification
- 76
- Sizing Uniformity
- 81.5
Ndwm LLC's disclosed holdings carry a Herfindahl concentration index of 0.114 — mathematically equivalent to about 9 equally-sized positions, well below its 39 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.85), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 3% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim BILS
-12.4% -$1.4M
Trim GLD
+1.6% -$1.2M
Add IVV
+0.7% $6.5M
Add RSP
+10.9% $3.1M
Add VLUE
+6.7% $1.8M
Trim BIL
-20.4% -$880.5K
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 38 holdings (of 39 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 28.73% | +1.25% | +0.68% | |
| 2 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 9.63% | +0.99% | +10.95% | |
| 3 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 7.43% | -0.24% | +7.31% | |
| 4 | BILS | Ss Spdrb B 3-12m T-bill ETF | ETF-Other | 5.73% | -1.50% | -12.40% | |
| 5 | GLD | Spdr Gold Shares | ETF-Commodities | 4.75% | -1.28% | +1.62% | |
| 6 | SLQD | Ishares 0-5 Yr Inv Grd CORP | ETF-Other | 4.44% | +0.23% | +16.62% | |
| 7 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 4.06% | -0.63% | -16.68% | |
| 8 | VLUE | Ishares Msci USA Value Facto | ETF-Other | 3.17% | +0.84% | +6.71% | |
| 9 | CMF | Ishares California Muni Bond | ETF-Other | 3.12% | -0.22% | +1.79% | |
| 10 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 3.04% | +0.34% | +3.20% | |
| 11 | ACWX | Ishares Msci Acwi Ex US ETF | ETF-Other | 2.81% | +0.14% | +4.40% | |
| 12 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 2.76% | +0.43% | +8.11% | |
| 13 | CALI | Ishrs Sh-trm Ca Muni Act ETF | ETF-Other | 2.64% | -0.10% | +5.90% | |
| 14 | VTEC | Vanguard Ca Tax-ex Bond | ETF-Other | 2.56% | -0.13% | +3.54% | |
| 15 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 2.02% | -0.78% | -20.35% | |
| 16 | XLK | Ss Technology Select Sector | ETF-Tech | 1.62% | +0.37% | +0.03% | |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.47% | -0.07% | +0.60% | |
| 18 | SUB | Ishares Short-term National | ETF-Other | 1.25% | -0.11% | +1.43% | |
| 19 | MUB | Ishares National Muni Bond E | ETF-Other | 1.24% | -0.13% | -1.95% | |
| 20 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 0.89% | +0.08% | +22.16% | |
| 21 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.89% | +0.12% | -0.05% | |
| 22 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.78% | +0.02% | +0.10% | |
| 23 | IEI | Ishares 3-7 Year Treasury Bo | ETF-Gov Bonds | 0.67% | +0.38% | +156.20% | |
| 24 | SPYD | Ss Spdr P S&p 500 Hi Div ETF | ETF-Large Cap & Growth | 0.66% | +0.20% | +50.01% | |
| 25 | AAPL | Apple Inc | Stock-Tech | 0.63% | +0.05% | -43.46% | |
| 26 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 0.62% | +0.62% | NEW | |
| 27 | NTSX | Wisdomtree US Efficient Core | ETF-Other | 0.41% | +0.01% | -0.83% | |
| 28 | SHYG | Ishares 0-5 Yr Hy CORP Bond | ETF-Corp Bonds | 0.27% | -0.43% | -58.08% | |
| 29 | CAT | Caterpillar Inc | Stock-Industrials | 0.25% | +0.07% | — | |
| 30 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.23% | +0.05% | +9.90% | |
| 31 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.22% | +0.22% | NEW | |
| 32 | MSFT | Microsoft CORP | Stock-Tech | 0.17% | — | +8.44% | |
| 33 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.16% | +0.02% | — | |
| 34 | BA | Boeing Co/the | Stock-Industrials | 0.16% | — | — | |
| 35 | IYW | Ishares Ustechnology ETF | ETF-Tech | 0.15% | +0.15% | NEW | |
| 36 | AMD | Advanced Micro Devices | Stock-Tech | 0.13% | +0.13% | NEW | |
| 37 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.13% | — | +8.76% | |
| 38 | XLE | Ss Energy Select Sector | ETF-Other | 0.12% | -0.03% | +0.24% |
Portfolio Performance
Performance for Q3 2026
+1.2%
Performance Last 4 Quarters
+16.1%
- Stdev
- +8.4%
- Beta
- +0.68
- Alpha
- +0.7%
- Max Drawdown
- -5.1%
- Annualized Perf
- +13.7%
- Batting Avg vs S&P
- +46.7%
- Sortino
- +3.09
- Stutzer
- +0.45
- Treynor
- +0.19
- Sterling
- +0.93
- Calmar
- +2.69
- Information Ratio
- -1.25
- Tracking Error
- +4.2%
- Stdev Down
- +4.3%
- Winning Months %
- +70%
- Losing Months %
- +30%
- Best 12 Months
- +21.8%
- Worst 12 Months
- +5.7%
- Efficiency Ratio
- +0.58
- Sharpe
- +1.57
- Stdev Sectors
- +10.8%
- Skewness
- -0.25
- Kurtosis
- +0.01
- Upside Potential
- +4.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Ndwm LLC's most significant position changes for 2026-06-30: Sold out: Servicenow Inc (NOW); New buy: Ishares 7-10 Year Treasury B (IEF); New buy: Vanguard S&p 500 ETF (VOO); Sold out: Dominion Energy Inc (D); New buy: Ishares Ustechnology ETF (IYW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | +1.3% | +0.68% | Add |
| 2 | RSP | Invesco S&p 500 Equal Weight | +1% | +10.95% | Add |
| 3 | VLUE | Ishares Msci USA Value Facto | +0.8% | +6.71% | Add |
| 4 | IEF | Ishares 7-10 Year Treasury B | +0.6% | NEW | New buy |
| 5 | IWM | Ishares Russell 2000 ETF | +0.4% | +8.11% | Add |
| 6 | IEI | Ishares 3-7 Year Treasury Bo | +0.4% | +156.20% | Add |
| 7 | XLK | Ss Technology Select Sector | +0.4% | +0.03% | Add |
| 8 | EEM | Ishares Msci Emerging Market | +0.3% | +3.20% | Add |
| 9 | SLQD | Ishares 0-5 Yr Inv Grd CORP | +0.2% | +16.62% | Add |
| 10 | VOO | Vanguard S&p 500 ETF | +0.2% | NEW | New buy |
| 11 | SPYD | Ss Spdr P S&p 500 Hi Div ETF | +0.2% | +50.01% | Add |
| 12 | IYW | Ishares Ustechnology ETF | +0.2% | NEW | New buy |
| 13 | ACWX | Ishares Msci Acwi Ex US ETF | +0.1% | +4.40% | Add |
| 14 | AMD | Advanced Micro Devices | +0.1% | NEW | New buy |
| 15 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | -0.05% | Trim |
| 16 | SHY | Ishares 1-3 Year Treasury Bo | +0.1% | +22.16% | Add |
| 17 | CAT | Caterpillar Inc | +0.1% | — | Unchanged |
| 18 | AAPL | Apple Inc | +0.1% | -43.46% | Trim |
| 19 | GOOGL | Alphabet Inc-cl A | +0.1% | +9.90% | Add |
| 20 | TSLA | Tesla Inc | 0% | +0.10% | Add |
| 21 | LLY | Eli Lilly & Co | 0% | — | Unchanged |
| 22 | NTSX | Wisdomtree US Efficient Core | 0% | -0.83% | Trim |
| 23 | MSFT | Microsoft CORP | — | +8.44% | Add |
| 24 | BA | Boeing Co/the | — | — | Unchanged |
| 25 | META | Meta Platforms Inc-class A | — | +8.76% | Add |
| 26 | XLE | Ss Energy Select Sector | 0% | +0.24% | Add |
| 27 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | +0.60% | Add |
| 28 | CALI | Ishrs Sh-trm Ca Muni Act ETF | -0.1% | +5.90% | Add |
| 29 | SUB | Ishares Short-term National | -0.1% | +1.43% | Add |
| 30 | VTEC | Vanguard Ca Tax-ex Bond | -0.1% | +3.54% | Add |
| 31 | PHYS | Sprott Physical Gold Trust | -0.1% | EXIT | Sold out |
| 32 | MUB | Ishares National Muni Bond E | -0.1% | -1.95% | Trim |
| 33 | D | Dominion Energy Inc | -0.2% | EXIT | Sold out |
| 34 | CMF | Ishares California Muni Bond | -0.2% | +1.79% | Add |
| 35 | AGG | Ishares Core U.s. Aggregate | -0.2% | +7.31% | Add |
| 36 | SHYG | Ishares 0-5 Yr Hy CORP Bond | -0.4% | -58.08% | Trim |
| 37 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.6% | -16.68% | Trim |
| 38 | NOW | Servicenow Inc | -0.7% | EXIT | Sold out |
| 39 | BIL | Ss Spdr Bb 1-3m T-bill ETF | -0.8% | -20.35% | Trim |
| 40 | GLD | Spdr Gold Shares | -1.3% | +1.62% | Add |
| 41 | BILS | Ss Spdrb B 3-12m T-bill ETF | -1.5% | -12.40% | Trim |
Filing History
FAQ
What is Ndwm LLC and what type of investor is it?
Ndwm LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $170.2M, spread across 39 disclosed positions.
What are Ndwm LLC's largest equity positions?
Based on the latest 13F filing, Ndwm LLC's top holdings by market value are:
1. Ishares Core S&p 500 ETF (IVV) — $48.9M (28.7%)
2. Invesco S&p 500 Equal Weight (RSP) — $16.4M (9.6%)
3. Ishares Core U.s. Aggregate (AGG) — $12.7M (7.4%)
4. Ss Spdrb B 3-12m T-bill ETF (BILS) — $9.8M (5.7%)
5. Spdr Gold Shares (GLD) — $8.1M (4.8%)
What changes did Ndwm LLC make in its most recent portfolio filing?
In the latest reported quarter, Ndwm LLC made 38 notable position adjustments: 4 new positions were initiated, 23 existing holdings were added to, 8 positions were partially reduced, and 3 were completely exited. The largest of these moves: Sold out: Servicenow Inc (NOW); New buy: Ishares 7-10 Year Treasury B (IEF); New buy: Vanguard S&p 500 ETF (VOO); Sold out: Dominion Energy Inc (D); New buy: Ishares Ustechnology ETF (IYW)
What sectors does Ndwm LLC focus on?
Ndwm LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.4%
• Consumer Discretionary: 29.6%
• Industrials: 15.3%
• Communication Services: 13.6%
• Health Care: 6.1%
Investment Profile
Ndwm LLC returned an annualized 13.7% over the trailing 30 months — outperforming the S&P 500 by 0.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.68 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 35.4% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 17 over the past 4 quarters — a shift toward more active trading.
It has added to its RSP position over the past two quarters (+$11.9M, now $16.4M), while trimming SPY over the same stretch (-$23.2M, still holding $6.9M).
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Developer Access
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