NDWM LLC

CIK 0001818386 · Q2 2026

13F Equity AUM

$170.2M

+10.4% QoQ

Positions

+1 QoQ

AUM Rank

#6,677

Top 77%

Skill Alpha (FF)

+0.2%/yr^ns

No Clear Edge

Rank #2,503 · Top 30%

vs S&P -8.3%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 56.3%Top 10: 74.1%Top 20: 93.4%

IVV28.7%

RSP9.6%

AGG7.4%

BILS5.7%

GQ94.8%

SLQD4.4%

SPY4.1%

VLUE3.2%

CMF3.1%

EEM3.0%

Others (28)25.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services94.8%

Fund2.6%

Other2.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 38Median: 1.06%Avg: 2.63%

0–0.5%

12(2.4%)

0.5–1%

7(5.1%)

1–3%

9(18.4%)

3–5%

6(22.6%)

5%+

4(51.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 38vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New4Increased23Decreased8Exited3

New Positions

IEF0.6%

+11K

VOO0.2%

+547

IYW0.1%

+1K

AMD0.1%

+382

Increased

SLQD4.4%

+21K(+17%)

AGG7.4%

+9K(+7%)

SPYD0.7%

+8K(+50%)

RSP9.6%

+8K(+11%)

IEI0.7%

+6K(+156%)

CALI2.6%

+5K(+6%)

SHY0.9%

+3K(+22%)

ACWX2.8%

+3K(+4%)

EEM3.0%

+2K(+3%)

VLUE3.2%

+2K(+7%)

Decreased

SHYG0.3%

-14,922(-58%)

BILS5.7%

-13,899(-12%)

BIL2.0%

-9,607(-20%)

AAPL0.6%

-2,839(-43%)

SPY4.1%

-1,854(-17%)

MUB1.2%

-389(-2%)

NTSX0.4%

-99(-1%)

NDQ0.9%

-1(-0%)

Exited

NOW

-10,104

-5,500

PHYS/U

-5,871

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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