Gunpowder Capital Management, LLC dba Oliver Wealth Management

Diversified strategyMomentum followerSector-focused

Total reported value

$131.8M

Reporting period: 2026-03-31 · Number of holdings: 408

Gunpowder Capital Management, LLC dba Oliver Wealth Management disclosed 408 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $131.8M and a quarterly turnover rate of 14.1%.

Personality snowflake

Concentration: 18.1
Portfolio Stability: 14.1
Momentum/Contrarian: 100
Sector conviction: 74.41
Diversification: 100
Sizing Uniformity: 58.16

Recent moves

Add DCOR
+28.5%　$2.2M
Add DFAC
+20.1%　$1.9M
Add DFIC
+23.2%　$1.3M
Trim AAPL
-0.5%　-$785.1K
Add GLD
+0.5%　$1.1M
Trim MSFT
-7.1%　-$661.8K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GLD	Spdr Gold Shares	ETF-Commodities	10.39%	+0.62%	+0.52%
2	DFAC	Dimensional US Core Equity 2	ETF-Other	9.45%	+1.22%	+20.08%
3	DCOR	Dimensional US Core Eq 1 ETF	ETF-Other	8.28%	+1.53%	+28.48%
4	AAPL	Apple INC	Stock-Tech	7.74%	-0.81%	-0.53%
5	DFIC	Dimensional International Co	ETF-Other	4.65%	+0.90%	+23.20%
6	IAU	Ishares Gold Trust	ETF-Commodities	4.23%	+0.22%	-0.31%
7	CGDV	Cap Group Dividend Value	ETF-Other	3.97%	-0.04%	+4.16%
8	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	3.65%	-0.31%	-0.78%
9	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	3.16%	-0.26%	+0.89%
10	META	Meta Platforms Inc-class A	Stock-Comm Services	2.81%	-0.51%	-0.03%
11	DFEM	Dimensional Emrg Mrkt Core	ETF-Other	2.40%	+0.52%	+25.72%
12	WMT	Walmart INC	Stock-Consumer Staples	2.37%	+0.13%	-2.87%
13	CGGR	Cap Group Growth Equity	ETF-Other	2.18%	—	+10.16%
14	PLTR	Palantir Technologies Inc-a	Stock-Tech	2.14%	-0.53%	—
15	XLE	Ss Energy Select Sector	ETF-Other	1.45%	+0.35%	-0.87%
16	AVGO	Broadcom INC	Stock-Tech	1.36%	-0.30%	-5.69%
17	SPYM	Ste Str Spdr Pt S&p 500 ETF	ETF-Large Cap & Growth	1.36%	-0.33%	-13.12%
18	MSFT	Microsoft CORP	Stock-Tech	1.24%	-0.54%	-7.07%
19	SLV	Ishares Silver Trust	ETF-Commodities	1.14%	+0.03%	-0.74%
20	DFUS	Dimensional US Eq Mkt ETF	ETF-Other	1.10%	-0.17%	-7.39%
21	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.04%	-0.15%	-5.97%
22	XOM	Exxon Mobil CORP	Stock-Energy	1.02%	+0.27%	-1.74%
23	NVDA	Nvidia CORP	Stock-Tech	0.99%	-0.09%	—
24	DFAI	Dimensional International Co	ETF-Other	0.91%	-0.06%	-5.98%
25	ETHA	Ishares Ethereum Trust ETF	ETF-Other	0.85%	+0.36%	+151.21%
26	MDY	State Street Spdr S&p Midcap	ETF-Other	0.69%	—	—
27	RSPT	Invesco S&p 500 Equal Weight	ETF-Large Cap & Growth	0.64%	—	-1.07%
28	BABA	Alibaba Group Holding-sp Adr	Stock-Consumer Disc	0.60%	-0.10%	+4.05%
29	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.58%	-0.07%	—
30	UPS	United Parcel Service-cl B	Stock-Industrials	0.55%	-0.05%	-5.56%
31	SPDW	Ste Str Spdr Pt Dw EU ETF	ETF-Other	0.53%	-0.08%	-13.98%
32	AKRE	Akre Focus ETF	ETF-Other	0.50%	-0.13%	—
33	DFAE	Dimensional Emerging Core Eq	ETF-Emerging Markets	0.49%	—	-5.62%
34	DFCF	Dimensional Core Fixed INC	ETF-Other	0.47%	—	-3.48%
35	BX	Blackstone INC	Stock-Financials	0.43%	-0.16%	—
36	SPAB	Ss Spdr P Agg Bond ETF	ETF-Other	0.43%	-0.05%	-8.27%
37	V	Visa Inc-class A Shares	Stock-Financials	0.39%	-0.07%	—
38	AMZN	Amazon.com INC	Stock-Consumer Disc	0.36%	-0.05%	—
39	FXL	First Trust Technology Alpha	ETF-Tech	0.36%	—	—
40	CEG	Constellation Energy	Stock-Utilities	0.36%	+0.17%	+145.12%
41	FXI	Ishares China Large-cap ETF	ETF-Emerging Markets	0.34%	—	+6.78%
42	SPSM	Ss Spdr P S&p 600 Small Cap	ETF-Small Cap	0.32%	—	-11.81%
43	HD	Home Depot INC	Stock-Consumer Disc	0.28%	-0.05%	-8.51%
44	NEM	Newmont CORP	Stock-Materials	0.27%	—	-1.47%
45	IWM	Ishares Russell 2000 ETF	ETF-Small Cap	0.27%	+0.06%	+33.95%
46	TEM	Tempus Ai Inc-cl A	Stock-Healthcare	0.22%	—	+30.00%
47	VIG	Vanguard Dividend Apprec ETF	ETF-Other	0.21%	—	—
48	JNJ	Johnson & Johnson	Stock-Healthcare	0.20%	—	-9.40%
49	MA	Mastercard INC - A	Stock-Financials	0.19%	—	—
50	TSLA	Tesla INC	Stock-Consumer Disc	0.19%	-0.05%	—

1–50 of 408

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	408	$131.8M	14	1GLD 2DFAC 3DCOR Top holdings2026-03-31 1.GLD 2.DFAC 3.DCOR 4.AAPL 5.DFIC 6.IAU 7.CGDV 8.SPY 9.QQQ 10.META
2025-12-31	439	$128.5M	0	1GLD 2AAPL 3DFAC Top holdings2025-12-31 1.GLD 2.AAPL 3.DFAC 4.DCOR 5.CGDV 6.IAU 7.SPY 8.DFIC 9.QQQ 10.META

Holding changes this quarter

Gunpowder Capital Management, LLC dba Oliver Wealth Management's most significant position changes for 2026-03-31: New buy: Hedgeye Fourth Turning ETF (HEFT); Sold out: Zevra Therapeutics INC (ZVRA); New buy: Dimensional US Small Cap Val (DFSV); Add: Dimensional US Core Eq 1 ETF (DCOR) — shares +28.48%; Add: Dimensional US Core Equity 2 (DFAC) — shares +20.08%.

Position changes disclosed by Gunpowder Capital Management, LLC dba Oliver Wealth Management for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	DCOR	Dimensional US Core Eq 1 ETF	+1.5%	+28.48%	Add
2	DFAC	Dimensional US Core Equity 2	+1.2%	+20.08%	Add
3	DFIC	Dimensional International Co	+0.9%	+23.20%	Add
4	GLD	Spdr Gold Shares	+0.6%	+0.52%	Add
5	DFEM	Dimensional Emrg Mrkt Core	+0.5%	+25.72%	Add
6	ETHA	Ishares Ethereum Trust ETF	+0.4%	+151.21%	Add
7	XLE	Ss Energy Select Sector	+0.4%	-0.87%	Trim
8	XOM	Exxon Mobil CORP	+0.3%	-1.74%	Trim
9	IAU	Ishares Gold Trust	+0.2%	-0.31%	Trim
10	CEG	Constellation Energy	+0.2%	+145.12%	Add
11	WMT	Walmart INC	+0.1%	-2.87%	Trim
12	IWM	Ishares Russell 2000 ETF	+0.1%	+33.95%	Add
13	EXC	Exelon CORP	+0.1%	+73.06%	Add
14	DFAW	Dimensional World Eqty ETF	+0.1%	+780.28%	Add
15	MTZ	Mastec INC	+0.1%	—	Unchanged
16	SLV	Ishares Silver Trust	0%	-0.74%	Trim
17	CGDV	Cap Group Dividend Value	0%	+4.16%	Add
18	SPEM	State Street Sp Ptf Em ETF	0%	-17.55%	Trim
19	MLI	Mueller Industries INC	-0.1%	-34.94%	Trim
20	ZETA	Zeta Global Holdings Corp-a	-0.1%	-73.09%	Trim
21	SPAB	Ss Spdr P Agg Bond ETF	-0.1%	-8.27%	Trim
22	TSLA	Tesla INC	-0.1%	—	Unchanged
23	HD	Home Depot INC	-0.1%	-8.51%	Trim
24	AMZN	Amazon.com INC	-0.1%	—	Unchanged
25	UPS	United Parcel Service-cl B	-0.1%	-5.56%	Trim
26	PYPL	Paypal Holdings INC	-0.1%	-52.52%	Trim
27	DFAI	Dimensional International Co	-0.1%	-5.98%	Trim
28	V	Visa Inc-class A Shares	-0.1%	—	Unchanged
29	GOOGL	Alphabet Inc-cl A	-0.1%	—	Unchanged
30	USB	US Bancorp	-0.1%	-34.73%	Trim
31	SPDW	Ste Str Spdr Pt Dw EU ETF	-0.1%	-13.98%	Trim
32	NVDA	Nvidia CORP	-0.1%	—	Unchanged
33	JD	Jd.com Inc-adr	-0.1%	-69.85%	Trim
34	BABA	Alibaba Group Holding-sp Adr	-0.1%	+4.05%	Add
35	CI	THE Cigna Group	-0.1%	-34.89%	Trim
36	AKRE	Akre Focus ETF	-0.1%	—	Unchanged
37	BRK-B	Berkshire Hathaway Inc-cl B	-0.2%	-5.97%	Trim
38	BX	Blackstone INC	-0.2%	—	Unchanged
39	DFUS	Dimensional US Eq Mkt ETF	-0.2%	-7.39%	Trim
40	QQQ	Invesco Qqq Trust Series 1	-0.3%	+0.89%	Add
41	AVGO	Broadcom INC	-0.3%	-5.69%	Trim
42	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.3%	-0.78%	Trim
43	SPYM	Ste Str Spdr Pt S&p 500 ETF	-0.3%	-13.12%	Trim
44	META	Meta Platforms Inc-class A	-0.5%	-0.03%	Trim
45	PLTR	Palantir Technologies Inc-a	-0.5%	—	Unchanged
46	MSFT	Microsoft CORP	-0.5%	-7.07%	Trim
47	AAPL	Apple INC	-0.8%	-0.53%	Trim
48	HEFT	Hedgeye Fourth Turning ETF	—	NEW	New buy
49	ZVRA	Zevra Therapeutics INC	—	EXIT	Sold out
50	DFSV	Dimensional US Small Cap Val	—	NEW	New buy

FAQ

What is Gunpowder Capital Management, LLC dba Oliver Wealth Management and what type of investor is it?

Gunpowder Capital Management, LLC dba Oliver Wealth Management is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $131.8M, spread across 408 disclosed positions.

What are Gunpowder Capital Management, LLC dba Oliver Wealth Management's largest equity positions?

Based on the latest 13F filing, Gunpowder Capital Management, LLC dba Oliver Wealth Management's top holdings by market value are: 1. Spdr Gold Shares (GLD) — $13.7M (10.4%) 2. Dimensional US Core Equity 2 (DFAC) — $12.5M (9.4%) 3. Dimensional US Core Eq 1 ETF (DCOR) — $10.9M (8.3%) 4. Apple INC (AAPL) — $10.2M (7.7%) 5. Dimensional International Co (DFIC) — $6.1M (4.7%)

What changes did Gunpowder Capital Management, LLC dba Oliver Wealth Management make in its most recent portfolio filing?

In the latest reported quarter, Gunpowder Capital Management, LLC dba Oliver Wealth Management made 41 notable position adjustments: 2 new positions were initiated, 13 existing holdings were added to, 25 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Hedgeye Fourth Turning ETF (HEFT); Sold out: Zevra Therapeutics INC (ZVRA); New buy: Dimensional US Small Cap Val (DFSV); Add: Dimensional US Core Eq 1 ETF (DCOR) — shares +28.48%; Add: Dimensional US Core Equity 2 (DFAC) — shares +20.08%

What sectors does Gunpowder Capital Management, LLC dba Oliver Wealth Management focus on?

Gunpowder Capital Management, LLC dba Oliver Wealth Management is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 45.2% • Communication Services: 11.8% • Financials: 9.7% • Consumer Staples: 9.7% • Consumer Discretionary: 6.0% • Industrials: 5.3%