Tolleson Wealth Management, Inc.

Portfolio Overview

Tolleson Wealth Management, Inc. disclosed 92 positions worth $692.6M in its Form 13F-HR for Q4 2025. During the quarter the fund opened 7 new positions and exited 5 and a full exit from $RRBI. The portfolio is most concentrated in Other (95.6% of disclosed assets). All figures are sourced directly from Tolleson Wealth Management, Inc.’s Form 13F-HR filing with the SEC under CIK 1772937.

• ISHARES U.S. EQUITY FACTOR ETF

  —

  Quality

  $162.9M2,346,333 sh

• ISHARES INTERNATIONAL EQUITY FACTOR ETF

  —

  Quality

  $117.6M3,114,766 sh

• STATE STREET SPDR MSCI USA STRATEGICFACTORS ETF

  —

  Quality

  $94.8M544,403 sh

• ISHARES CORE S&P TOTAL U.S. STOCK MARKET ETF

  —

  Quality

  $40.3M270,767 sh

• ISHARES 0-3 MONTH TREASURY BOND ETF

  —

  Quality

  $31.4M312,901 sh

• ISHARES HIGH YIELD MUNI ACTIVE ETF

  —

  Quality

  $28.9M594,674 sh

• VANGUARD RUSSELL 1000 GROWTH ETF

  —

  Quality

  $28.0M230,015 sh

• VANGUARD FTSE ALL-WORLD EX-US INDEX FUND

  —

  Quality

  $21.8M296,830 sh
• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $17.6M25,707 sh

• ISHARES MSCI INTL QUALITY FACTOR ETF

  —

  Quality

  $11.9M262,833 sh

Company	Quality	Value	Shares
ISHARES U.S. EQUITY FACTOR ETF	—	$162.9M	2,346,333
ISHARES INTERNATIONAL EQUITY FACTOR ETF	—	$117.6M	3,114,766
STATE STREET SPDR MSCI USA STRATEGICFACTORS ETF	—	$94.8M	544,403
ISHARES CORE S&P TOTAL U.S. STOCK MARKET ETF	—	$40.3M	270,767
ISHARES 0-3 MONTH TREASURY BOND ETF	—	$31.4M	312,901
ISHARES HIGH YIELD MUNI ACTIVE ETF	—	$28.9M	594,674
VANGUARD RUSSELL 1000 GROWTH ETF	—	$28.0M	230,015
VANGUARD FTSE ALL-WORLD EX-US INDEX FUND	—	$21.8M	296,830
SPDR S&P 500 ETF TRUST$SPY	—	$17.6M	25,707
ISHARES MSCI INTL QUALITY FACTOR ETF	—	$11.9M	262,833

Showing top 10 of 92 holdings.

Full Holdings — Tolleson Wealth Management, Inc. (Q4 2025)

All 92 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	ISHARES U.S. EQUITY FACTOR ETF	$162.9M	23.5%	+6%	—
2	—	ISHARES INTERNATIONAL EQUITY FACTOR ETF	$117.6M	17.0%	+4%	—
3	—	STATE STREET SPDR MSCI USA STRATEGICFACTORS ETF	$94.8M	13.7%	-2%	—
4	—	ISHARES CORE S&P TOTAL U.S. STOCK MARKET ETF	$40.3M	5.8%	-1%	—
5	—	ISHARES 0-3 MONTH TREASURY BOND ETF	$31.4M	4.5%	NEW	—
6	—	ISHARES HIGH YIELD MUNI ACTIVE ETF	$28.9M	4.2%	+8%	—
7	—	VANGUARD RUSSELL 1000 GROWTH ETF	$28.0M	4.0%	+0%	—
8	—	VANGUARD FTSE ALL-WORLD EX-US INDEX FUND	$21.8M	3.1%	-3%	—
9	$SPY	SPDR S&P 500 ETF TRUST	$17.6M	2.5%	-7%	—
10	—	ISHARES MSCI INTL QUALITY FACTOR ETF	$11.9M	1.7%	-1%	—
11	—	ISHARES MSCI EAFE ETF	$8.9M	1.3%	-4%	—
12	—	VANGUARD S&P 500 ETF	$8.4M	1.2%	-20%	—
13	—	ISHARES RUSSELL 1000 GROWTH ETF	$7.3M	1.1%	-5%	—
14	—	FIRST TRUST SMITH UNCONSTRAINED BOND ETF	$7.0M	1.0%	-12%	—
15	—	ISHARES RUSSELL MIDCAP ETF	$6.6M	0.9%	-2%	—
16	—	ISHARES BROAD USD HIGH YIELD CORPORATE BOND ETF	$5.7M	0.8%	-3%	—
17	—	TCW TRANSFORM 500 ETF	$5.4M	0.8%	+1%	—
18	—	VANGUARD RUSSELL 3000 ETF	$4.9M	0.7%	-3%	—
19	—	ISHARES RUSSELL 1000 VALUE ETF	$4.8M	0.7%	-2%	—
20	—	ISHARES CORE S&P 500 ETF	$4.0M	0.6%	+25%	—
21	—	ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF	$3.9M	0.6%	-4%	—
22	—	NUVEEN ESG LARGE-CAP ETF	$3.7M	0.5%	+2%	—
23	—	ISHARES RUSSELL MID-CAP GROWTH ETF	$3.6M	0.5%	+0%	—
24	—	ISHARES RUSSELL 3000 ETF	$3.5M	0.5%	+0%	—
25	$GLXY	Galaxy Digital Inc.	$3.2M	0.5%	+0%	40.8
26	$MA	Mastercard Inc	$3.1M	0.4%	+0%	81.7
27	$MSFT	MICROSOFT CORP	$2.6M	0.4%	-10%	83.7
28	$GS	GOLDMAN SACHS GROUP INC	$2.4M	0.3%	-1%	—
29	—	NUVEEN ESG EMERGING MARKETS EQUITY ETF	$2.1M	0.3%	-1%	—
30	$IVZ	Invesco Ltd.	$2.1M	0.3%	+0%	—
31	$AAPL	Apple Inc.	$2.1M	0.3%	-27%	76.1
32	—	VANGUARD FTSE EUROPE ETF	$1.9M	0.3%	-6%	—
33	—	ISHARES CORE MSCI EMERGING MARKETS ETF	$1.8M	0.3%	+33%	—
34	—	SCHWAB U.S. BROAD MARKET ETF	$1.8M	0.3%	-1%	—
35	—	VANGUARD FTSE DEVELOPED MARKETS ETF	$1.8M	0.3%	+0%	—
36	$NVDA	NVIDIA CORP	$1.7M	0.3%	+0%	90.2
37	—	INVESCO S&P SMALLCAP VALUE WITH MOMENTUM ETF	$1.7M	0.3%	+0%	—
38	—	ISHARES BROAD USD INVESTMENT GRADE CORPORATE BOND ETF	$1.5M	0.2%	-8%	—
39	—	ISHARES SHORT DURATION HIGH YIELD MUNI ACTIVE ETF	$1.5M	0.2%	+0%	—
40	—	Impact Shares Affordable Housing MBS ETF	$1.3M	0.2%	+0%	—
41	$BTCO	Invesco Galaxy Bitcoin ETF	$1.1M	0.2%	+0%	—
42	$GLD	SPDR GOLD TRUST	$1.1M	0.2%	-41%	—
43	—	VANGUARD TOTAL INTERNATIONAL STOCK ETF	$1.0M	0.1%	-11%	—
44	$UNH	UNITEDHEALTH GROUP INC	$972,834	0.1%	-3%	66.8
45	—	ISHARES MSCI USA MIN VOL FACTOR ETF	$931,272	0.1%	+0%	—
46	—	ISHARES CORE U.S. AGGREGATE BOND ETF	$919,695	0.1%	-0%	—
47	$AMZN	AMAZON COM INC	$914,047	0.1%	-11%	74.6
48	—	NUVEEN ESG INTERNATIONAL DEVELOPED MARKETS EQUITY ETF	$832,070	0.1%	+0%	—
49	—	ISHARES MSCI USA EQUAL WEIGHTED ETF	$824,686	0.1%	+0%	—
50	$IBIT	iShares Bitcoin Trust ETF	$797,627	0.1%	NEW	—
51	$ADBE	ADOBE INC.	$790,627	0.1%	+0%	80.4
52	—	ISHARES MSCI GLOBAL SUSTAINABLE DEVELOPMENT GOALS ETF	$756,337	0.1%	+0%	—
53	$USAC	USA Compression Partners, LP	$709,251	0.1%	+0%	68.9
54	$DHI	HORTON D R INC /DE/	$705,891	0.1%	-1%	54.6
55	—	ISHARES MSCI EAFE MIN VOL FACTOR ETF	$705,266	0.1%	+0%	—
56	—	STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF	$672,052	0.1%	+100%	—
57	$INTU	INTUIT INC.	$641,885	0.1%	+0%	82
58	—	ISHARES RUSSELL 1000 ETF	$631,114	0.1%	+0%	—
59	—	ISHARES MSCI USA QUALITY FACTOR ETF	$587,319	0.1%	+0%	—
60	$SYY	SYSCO CORP	$582,741	0.1%	+0%	58.4
61	$ADP	AUTOMATIC DATA PROCESSING INC	$570,941	0.1%	-2%	77.9
62	—	VANGUARD SMALL-CAP ETF	$510,999	0.1%	+12%	—
63	—	ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF	$508,050	0.1%	-1%	—
64	$V	VISA INC.	$506,999	0.1%	+0%	83.5
65	—	VANGUARD SHORT-TERM TREASURY ETF	$474,656	0.1%	-8%	—
66	$NTAP	NetApp, Inc.	$458,559	0.1%	-2%	75
67	—	ISHARES CORE MSCI EAFE ETF	$422,251	0.1%	NEW	—
68	—	ISHARES SELECT U.S. REIT ETF	$418,619	0.1%	-21%	—
69	$SGOL	abrdn Gold ETF Trust	$405,665	0.1%	NEW	—
70	$AMG	AFFILIATED MANAGERS GROUP, INC.	$380,241	0.1%	+0%	60.3
71	—	ISHARES MSCI EMERGING MARKETS ASIA ETF	$364,045	0.1%	+0%	—
72	—	STATE STREET UTILITIES SELECT SECTOR SPDR ETF	$359,706	0.1%	+100%	—
73	—	STATE STREET HEALTH CARE SELECT SECTOR SPDR ETF	$357,743	0.1%	+0%	—
74	$CAT	CATERPILLAR INC	$343,722	0.1%	-16%	67.8
75	$MIN	ABERDEEN INTERMEDIATE INCOME FUND	$338,324	0.1%	+0%	—
76	—	VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF	$330,858	0.1%	+0%	—
77	$CBRE	CBRE GROUP, INC.	$321,580	0.1%	-4%	62.9
78	$EL	ESTEE LAUDER COMPANIES INC	$319,082	0.1%	-1%	52.5
79	—	STATE STREET CONSUMER STAPLES SELECT SECTOR SPDR ETF	$314,837	0.1%	+0%	—
80	$BKT	BLACKROCK INCOME TRUST, INC.	$314,474	0.1%	+0%	—
81	$OLED	UNIVERSAL DISPLAY CORP \PA\	$291,249	0.0%	NEW	64.7
82	$BHK	BLACKROCK CORE BOND TRUST	$283,365	0.0%	+0%	—
83	$ABT	ABBOTT LABORATORIES	$270,501	0.0%	-16%	67
84	$SBUX	STARBUCKS CORP	$269,556	0.0%	-4%	54.6
85	—	STATE STREET SPDR PORTFOLIO AGGREGATE BOND ETF	$262,135	0.0%	+0%	—
86	$BRK.B	BERKSHIRE HATHAWAY INC	$260,875	0.0%	-33%	64.5
87	—	VANGUARD FTSE PACIFIC ETF	$251,493	0.0%	-44%	—
88	—	ISHARES FUTURE EXPONENTIAL TECHNOLOGIES ETF	$244,857	0.0%	+0%	—
89	$BA	BOEING CO	$238,832	0.0%	-5%	51.8
90	—	VANGUARD MID-CAP ETF	$208,668	0.0%	NEW	—
91	—	VANECK GOLD MINERS ETF	$205,848	0.0%	NEW	—
92	$KRO	KRONOS WORLDWIDE INC	$141,639	0.0%	+0%	41.4