Institutional Manager · CIK 0001801101

LPWM LLC

MINNEAPOLIS, MN · File #028-19714

Latest AUM

$396.4M

Positions

Top-10 Concentration

72.1%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	ISHARES TR	464287408	+12,135	+$2.6M	+$1.8M
ADD	VANGUARD SCOTTSDALE FDS	92206C680	+15,390	+$1.9M	+$805,479
REDUCE	J P MORGAN EXCHANGE TRADED F	46641Q837	-34,266	-$1.7M	-$49,863
ADD	ISHARES TR	464287507	+20,449	+$1.3M	+$15,330
ADD	ISHARES TR	464287655	+4,548	+$1.1M	+$148,616
ADD	SELECT SECTOR SPDR TR	81369Y803	+6,159	+$886,737	-$782,843
ADD	ISHARES TR	464287473	+6,253	+$881,986	+$311,011
NEW	VANGUARD STAR FDS	921909768	+11,347	+$856,018	$0
ADD	VANGUARD INDEX FDS	922908744	+4,259	+$813,427	+$146,459
ADD	ISHARES TR	46434V613	+15,600	+$726,024	-$3,983

Sector Allocation

Technology

2.3%$9.1M

Financials

1.6%$6.3M

Consumer Discretionary

0.7%$2.7M

Healthcare

0.4%$1.5M

Industrials

0.1%$623,580

Communication Services

0.1%$457,442

Materials

0.1%$311,874

Filing History

Jan 6, 202613F HOLDINGS REPORTQ/E Dec 202587 pos · $396.4M
Oct 17, 202513F HOLDINGS REPORTQ/E Sep 202584 pos · $374.8M
Jul 8, 202513F HOLDINGS REPORTQ/E Jun 202583 pos · $342.8M
Apr 14, 202513F HOLDINGS REPORTQ/E Mar 202584 pos · $310.5M
Jan 14, 202513F HOLDINGS REPORTQ/E Dec 202478 pos · $311.3M
Oct 7, 202413F HOLDINGS REPORTQ/E Sep 202477 pos · $305.4M
Jul 15, 202413F HOLDINGS REPORTQ/E Jun 202477 pos · $289.6M
Apr 15, 202413F HOLDINGS REPORTQ/E Mar 202472 pos · $272.3M
Oct 10, 202313F HOLDINGS REPORTQ/E Dec 202367 pos · $222.4M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD SCOTTSDALE FDS	92206C680	659,713	$80.3M	21.17%
2	ISHARES TR	464287408	329,407	$69.9M	18.41%
3	ISHARES TR	464287473	231,561	$32.7M	8.61%
4	ISHARES TR	46432F842	196,192	$17.6M	4.63%
5	J P MORGAN EXCHANGE TRADED F	46641Q837	321,899	$16.3M	4.29%
6	VANGUARD MALVERN FDS	922020805	275,811	$13.6M	3.60%
7	VANGUARD INTL EQUITY INDEX F	922042858	242,904	$13.1M	3.44%
8	ISHARES TR	464287242	102,504	$11.3M	2.98%
9	ISHARES TR	464287655	39,923	$9.8M	2.59%
10	SPDR SERIES TRUST	78464A300	100,943	$9.2M	2.42%
11	VANGUARD INDEX FDS	922908744	36,790	$7.0M	1.85%
12	VANGUARD INDEX FDS	922908553	66,439	$5.9M	1.55%
13	VANGUARD SCOTTSDALE FDS	92206C730	16,052	$5.0M	1.31%
14	INVESCO EXCH TRADED FD TR II	IVZ	179,130	$4.9M	1.30%
15	ISHARES TR	464287499	49,147	$4.7M	1.25%
16	J P MORGAN EXCHANGE TRADED F	46641Q654	91,984	$4.7M	1.24%
17	BERKSHIRE HATHAWAY INC DEL	BRK-A	9,018	$4.5M	1.19%
18	NVIDIA CORPORATION	NVDA	24,269	$4.5M	1.19%
19	VANGUARD INDEX FDS	922908512	24,966	$4.4M	1.17%
20	VANGUARD INTL EQUITY INDEX F	922042676	92,172	$4.2M	1.11%