13F HOLDINGS REPORT

Tolleson Wealth Management, Inc.

Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001772937-25-000016

Total Value

$646.4M

Positions

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (90)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ISHARES U.S. EQUITY FACTOR ETF	46434V282	2,220,567	$153.4M	23.73%
2	ISHARES INTERNATIONAL EQUITY FACTOR ETF	46434V274	2,986,411	$107.2M	16.59%
3	SPDR MSCI USA STRATEGICFACTORS ETF	78468R812	557,208	$95.4M	14.76%
4	ISHARES CORE S&P TOTAL U.S. STOCK MARKET ETF	464287150	273,725	$39.9M	6.17%
5	VANGUARD RUSSELL 1000 GROWTH ETF	92206C680	230,015	$27.7M	4.29%
6	ISHARES HIGH YIELD MUNI ACTIVE ETF	BLK	548,256	$27.0M	4.17%
7	VANGUARD FTSE ALL-WORLD EX-US INDEX FUND	922042775	305,507	$21.8M	3.37%
8	SPDR S&P 500 ETF TRUST	SPY	27,787	$18.5M	2.86%
9	ISHARES MSCI INTL QUALITY FACTOR ETF	46434V456	264,455	$11.7M	1.81%
10	VANGUARD S&P 500 ETF	922908363	16,617	$10.2M	1.58%
11	ISHARES MSCI EAFE ETF	464287465	96,819	$9.0M	1.40%
12	FIRST TRUST SMITH UNCONSTRAINED BOND ETF	33740F888	315,299	$7.9M	1.23%
13	ISHARES RUSSELL 1000 GROWTH ETF	464287614	16,325	$7.6M	1.18%
14	ISHARES RUSSELL MIDCAP ETF	464287499	69,685	$6.7M	1.04%
15	ISHARES BROAD USD HIGH YIELD CORPORATE BOND ETF	46435U853	157,864	$6.0M	0.92%
16	TCW TRANSFORM 500 ETF	29287L106	66,745	$5.2M	0.81%
17	VANGUARD RUSSELL 3000 ETF	92206C599	16,701	$4.9M	0.76%
18	GALAXY DIGITAL INC. CL A	GLXY	145,000	$4.9M	0.76%
19	ISHARES RUSSELL 1000 VALUE ETF	464287598	23,267	$4.7M	0.73%
20	NUVEEN ESG LARGE-CAP ETF	NU	75,868	$4.0M	0.61%
21	ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF	464288182	43,301	$3.9M	0.61%
22	ISHARES RUSSELL MID-CAP GROWTH ETF	464287481	26,171	$3.7M	0.58%
23	ISHARES RUSSELL 3000 ETF	464287689	9,066	$3.4M	0.53%
24	ISHARES CORE S&P 500 ETF	464287200	4,656	$3.1M	0.48%
25	MASTERCARD INCORPORATED CL A	MA	5,388	$3.1M	0.47%
26	MICROSOFT CORP COM	MSFT	5,876	$3.0M	0.47%
27	APPLE INC COM	AAPL	10,537	$2.7M	0.42%
28	NUVEEN ESG EMERGING MARKETS EQUITY ETF	NU	61,079	$2.2M	0.34%
29	INVESCO S&P SMALLCAP MOMENTUM ETF	IVZ	29,468	$2.2M	0.34%
30	GOLDMAN SACHS GROUP INC COM	GSCE	2,705	$2.2M	0.33%
31	VANGUARD FTSE EUROPE ETF	922042874	23,828	$1.9M	0.29%
32	SCHWAB U.S. BROAD MARKET ETF	808524102	68,637	$1.8M	0.27%
33	NVIDIA CORPORATION COM	NVDA	9,210	$1.7M	0.27%
34	SPDR GOLD SHARES	GLD	4,811	$1.7M	0.26%
35	VANGUARD FTSE DEVELOPED MARKETS ETF	921943858	28,361	$1.7M	0.26%
36	INVESCO S&P SMALLCAP VALUE WITH MOMENTUM ETF	IVZ	30,000	$1.7M	0.26%
37	ISHARES BROAD USD INVESTMENT GRADE CORPORATE BOND ETF	464288620	31,862	$1.7M	0.26%
38	INVESCO GALAXY BITCOIN ETF	BTCO	13,030	$1.5M	0.23%
39	ISHARES SHORT DURATION HIGH YIELD MUNI ACTIVE ETF	BLK	65,600	$1.5M	0.23%
40	ISHARES CORE MSCI EMERGING MARKETS ETF	46434G103	20,020	$1.3M	0.20%
41	Impact Shares Affordable Housing MBS ETF	74741A106	71,101	$1.3M	0.19%
42	VANGUARD TOTAL INTERNATIONAL STOCK ETF	921909768	15,574	$1.1M	0.18%
43	UNITEDHEALTH GROUP INC COM	UNH	3,029	$1.0M	0.16%
44	RED RIVER BANCSHARES INC COM	RRBI	15,041	$974,958	0.15%
45	AMAZON COM INC COM	AMZN	4,435	$973,793	0.15%
46	ISHARES MSCI USA MIN VOL FACTOR ETF	46429B697	9,890	$940,965	0.15%
47	ISHARES CORE U.S. AGGREGATE BOND ETF	464287226	9,247	$927,012	0.14%
48	NUVEEN ESG INTERNATIONAL DEVELOPED MARKETS EQUITY ETF	NU	22,979	$864,470	0.13%
49	D R HORTON INC COM	23331A109	4,964	$841,249	0.13%
50	ISHARES MSCI USA EQUAL WEIGHTED ETF	464286681	7,978	$821,495	0.13%
51	ADOBE INC COM	ADBE	2,259	$796,862	0.12%
52	ISHARES MSCI GLOBAL SUSTAINABLE DEVELOPMENT GOALS ETF	46435G532	8,980	$747,137	0.12%
53	USA COMPRESSION PARTNERS LP COMUNIT LTDPAR	USAC	30,837	$740,088	0.11%
54	ISHARES MSCI EAFE MIN VOL FACTOR ETF	46429B689	8,177	$693,655	0.11%
55	AUTOMATIC DATA PROCESSING INC COM	ADP	2,251	$664,135	0.10%
56	INTUIT COM	INTU	969	$661,740	0.10%
57	TECHNOLOGY SELECT SECTOR SPDR FUND	81369Y803	2,334	$657,861	0.10%
58	SYSCO CORP COM	SYY	7,908	$651,145	0.10%
59	ISHARES RUSSELL 1000 ETF	464287622	1,690	$617,661	0.10%
60	ISHARES MSCI USA QUALITY FACTOR ETF	46432F339	2,957	$575,137	0.09%
61	ISHARES SELECT U.S. REIT ETF	464287564	8,848	$545,221	0.08%
62	VANGUARD SHORT-TERM TREASURY ETF	92206C102	8,832	$519,763	0.08%
63	NETAPP INC COM	NTAP	4,370	$517,670	0.08%
64	ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF	464288513	6,373	$517,424	0.08%
65	VISA INC COM CL A	V	1,446	$493,511	0.08%
66	VANGUARD SMALL-CAP ETF	922908751	1,761	$449,205	0.07%
67	VANGUARD FTSE PACIFIC ETF	922042866	5,004	$439,551	0.07%
68	BERKSHIRE HATHAWAY INC DEL CL B NEW	BRK-A	780	$392,137	0.06%
69	UTILITIES SELECT SECTOR SPDR FUND	81369Y886	4,213	$367,416	0.06%
70	ISHARES MSCI EMERGING MARKETS ASIA ETF	464286426	3,872	$355,256	0.05%
71	MFS INTER INCOME TR SH BEN INT	55273C107	129,626	$347,398	0.05%
72	ABBOTT LABS COM	ABLZF	2,563	$343,288	0.05%
73	CATERPILLAR INC COM	CAT	712	$339,731	0.05%
74	VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF	922021605	3,300	$329,241	0.05%
75	CBRE GROUP INC CL A	CBRE	2,074	$326,779	0.05%
76	HEALTH CARE SELECT SECTOR SPDR FUND	81369Y209	2,311	$321,622	0.05%
77	BLACKROCK INCOME TR INC COM NEW	BLK	28,485	$320,171	0.05%
78	CONSUMER STAPLES SELECT SECTOR SPDR FUND	81369Y308	4,053	$317,634	0.05%
79	AFFILIATED MANAGERS GROUP INC COM	MGRE	1,319	$314,489	0.05%
80	BLACKROCK CORE BD TR SHS BEN INT	BLK	29,548	$293,707	0.05%
81	STARBUCKS CORP COM	SBUX	3,324	$281,210	0.04%
82	LAUDER ESTEE COS INC CL A	518439104	3,080	$271,410	0.04%
83	SPDR PORTFOLIO AGGREGATE BOND ETF	78464A649	10,180	$263,153	0.04%
84	ISHARES FUTURE EXPONENTIAL TECHNOLOGIES ETF	46434V381	3,511	$252,583	0.04%
85	BOEING CO COM	BA-PA	1,164	$251,226	0.04%
86	EXXON MOBIL CORP COM	XOM	2,200	$248,065	0.04%
87	JOHNSON & JOHNSON COM	JNJ	1,115	$206,743	0.03%
88	HONEYWELL INTL INC COM	438516106	961	$202,291	0.03%
89	KRONOS WORLDWIDE INC COM	KRO	32,045	$183,938	0.03%
90	BLACKROCK INCOME TR INC RT EXP 102025	09247F118	28,485	$1,681	0.00%