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Tanglewood Wealth Management, Inc. — 13F Holdings & Portfolio

CIK 1454308 · latest 13F-HR filed 2026-07-27

Backtest portfolio

Tanglewood Wealth Management, Inc. manages $1.18B in 13F-reported U.S. long-equity assets across 44 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VTI (20.35%), VEA (17.90%), IEI (14.44%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 8 new positions, exited 2, added to 19, and trimmed 7.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
1400 POST OAK BLVD
SUITE 800
HOUSTON, TX 77056
Phone
(713) 840-8880
Filing Manager
Tanglewood Wealth Management, Inc.
HOUSTON, TX
Signatory
Keith Fenstad
Chief Compliance Officer
Loading holdings…
AUM

$1.18B

Long-equity book

Holdings

44

Distinct positions

Period

2026-06-30

Filed 2026-07-27

Q/Q Activity

+8 / −2 / ↑19 / ↓7

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • VANGUARD TOTAL STOCK MARKET ETF$48.6M +25.5%
  • VANGUARD FTSE DEVELOPED MARKETS ETF$23.7M +12.7%
  • FREEDOM 100 EMERGING MARKETS ETF$14.8M +34.3%
  • INVESCO QQQ TRUST SERIES I$11.9M +27.0%
  • SCHWAB U.S. BROAD MARKET ETF$7.2M +18.6%
Show all 19 →

Top Trims

  • ISHARES GOLD TR-$22.0M -27.2%
  • ISHARES 3-7 YEAR TREASURY BOND ETF-$19.6M -10.4%
  • VANGUARD INTERMEDIATE-TERM TREASURY ETF-$15.7M -20.6%
  • FIRST EAGLE OVERSEAS EQUITY ETF-$14.3M -91.1%
  • SPDR GOLD TR-$14.0M -25.7%
Show all 7 →

New Positions

  • COHEN & STEERS ETF TRUST$31.6M
  • SCHWAB STRATEGIC TR$2.4M
  • INVESCO EXCH TRADED FD TR II$1.7M
  • VANGUARD INDEX FDS$482.8K
  • CATERPILLAR INC$266.2K
Show all 8 →

Exited Positions

  • ISHARES 1-3 YEAR TREASURY BOND ETF$77.0M
  • GMO ETF TRUST$29.5M
Show all 2 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD TOTAL STOCK MARKET ETF VTI 922908769 $239.2M 20.35% 646,444 SH
2 VANGUARD FTSE DEVELOPED MARKETS ETF VEA 921943858 $210.5M 17.90% 2,953,730 SH
3 ISHARES 3-7 YEAR TREASURY BOND ETF IEI 464288661 $169.7M 14.44% 1,445,259 SH
4 VANGUARD INTERMEDIATE-TERM TREASURY ETF VGIT 92206C706 $60.5M 5.15% 1,026,225 SH
5 ISHARES GOLD TR IAU 464285204 $58.9M 5.01% 780,110 SH
6 FREEDOM 100 EMERGING MARKETS ETF FRDM 02072L607 $58.0M 4.93% 795,880 SH
7 INVESCO QQQ TRUST SERIES I QQQ 46090E103 $56.1M 4.77% 76,145 SH
8 SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF FNDX 808524771 $53.5M 4.55% 1,719,646 SH
9 SCHWAB U.S. BROAD MARKET ETF SCHB 808524102 $45.7M 3.89% 1,577,486 SH
10 SPDR GOLD TR GLD 78463V107 $40.3M 3.43% 109,503 SH
11 ISHARES RUSSELL 3000 ETF IWV 464287689 $31.8M 2.70% 74,519 SH
12 COHEN & STEERS ETF TRUST CSEN 19249U609 $31.6M 2.69% 1,334,706 SH
13 ISHARES MSCI EAFE ETF EFA 464287465 $29.2M 2.48% 281,224 SH
14 ISHARES MSCI USA QUALITY FACTOR ETF QUAL 46432F339 $26.4M 2.24% 120,139 SH
15 VANGUARD REAL ESTATE ETF VNQ 922908553 $24.5M 2.08% 254,209 SH
16 VANGUARD INTERNATIONAL DIVIDEND APPRECIATION ETF VIGI 921946810 $6.4M 0.55% 68,858 SH
17 T. ROWE PRICE CAPITAL APPRECIATION EQUITY ETF TCAF 87283Q867 $6.1M 0.52% 149,060 SH
18 ISHARES CORE MSCI EAFE ETF IEFA 46432F842 $5.2M 0.45% 54,279 SH
19 AVANTIS INTERNATIONAL SMALL CAP VALUE ETF AVDV 025072802 $2.5M 0.21% 23,881 SH
20 SCHWAB STRATEGIC TR SCHO 808524862 $2.4M 0.20% 97,461 SH
21 ISHARES MSCI EAFE GROWTH ETF EFG 464288885 $2.1M 0.18% 16,818 SH
22 STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF XLK 81369Y803 $1.7M 0.15% 8,999 SH
23 INVESCO EXCH TRADED FD TR II QQQM 46138G649 $1.7M 0.14% 5,556 SH
24 FPA GLOBAL EQUITY ETF FPAG 30254T577 $1.6M 0.14% 40,809 SH
25 FIRST EAGLE OVERSEAS EQUITY ETF FEOE 75526L878 $1.4M 0.12% 26,234 SH
26 STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF XLRE 81369Y860 $1.2M 0.10% 27,682 SH
27 ALPHABET INC CAP STK CL A GOOGL 02079K305 $931.7K 0.08% 2,607 SH
28 SCHWAB U.S. LARGE-CAP ETF SCHX 808524201 $860.8K 0.07% 29,249 SH
29 BERKSHIRE HATHAWAY INC DEL CL A BRK.A 084670108 $748.9K 0.06% 1 SH
30 APPLE INC COM AAPL 037833100 $625.0K 0.05% 2,160 SH
31 VANGUARD INDEX FDS VOO 922908363 $482.8K 0.04% 703 SH
32 ISHARES MSCI EAFE VALUE ETF EFV 464288877 $457.2K 0.04% 5,972 SH
33 MICROSOFT CORP COM MSFT 594918104 $423.0K 0.04% 1,134 SH
34 AKRE FOCUS ETF AKRE 74316P579 $391.7K 0.03% 7,364 SH
35 STATE STREET SPDR S&P 500 ETF SPY 78462F103 $334.6K 0.03% 448 SH
36 ISHARES SILVER TR SLV 46428Q109 $320.8K 0.03% 6,000 SH
37 ISHARES RUSSELL 1000 VALUE ETF IWD 464287598 $318.3K 0.03% 1,313 SH
38 VANGUARD TOTAL BOND MARKET ETF BND 921937835 $271.2K 0.02% 3,695 SH
39 CATERPILLAR INC CAT 149123101 $266.2K 0.02% 250 SH
40 ISHARES INTERNATIONAL SELECT DIVIDEND ETF IDV 464288448 $229.9K 0.02% 5,550 SH
41 WELLTOWER INC WELL 95040Q104 $217.2K 0.02% 957 SH
42 ISHARES SELECT DIVIDEND ETF DVY 464287168 $210.5K 0.02% 1,347 SH
43 AMAZON COM INC AMZN 023135106 $204.0K 0.02% 856 SH
44 JOHNSON & JOHNSON JNJ 478160104 $200.4K 0.02% 789 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-07-27 $1.18B 44 0001454308-26-000004
2026-03-31 2026-04-21 $1.21B 38 0001454308-26-000003
2025-12-31 2026-01-29 $1.09B 35 0001454308-26-000002