Top Institutional Investors

TLWM — 13F Holdings & Portfolio

CIK 1732537 · latest 13F-HR filed 2026-10-09

Backtest portfolio

TLWM manages $627.5M in 13F-reported U.S. long-equity assets across 74 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are SPY (20.18%), IWV (19.53%), ACWX (11.33%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 3 new positions and exited 2; 25 existing positions rose in reported value and 18 fell.

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.

Loading holdings…
AUM
$627.5M

Long-equity book

Holdings
74

Distinct positions

Period
2026-09-30

Filed 2026-10-09

Q/Q Activity
+3 / −2 / ↑25 / ↓18

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
SPY20.2% · -3%IWV19.5% · -3%ACWX11.3% · -0%SPYG7.7% · +1%BSCQ5.8% · +8%BSCS5.7% · +7%BSCU5.2% · +10%BSCT5.1% · +10%BSCR4.6% · +10%NVDA0.9% · +0%AAPL0.8% · +2%IBDS0.6% · -1%MSFT0.5% · +0%AMZN0.5% · -2%META0.5% · -2%GOOGL0.5% · -0%TSLA0.5% · -1%TWLO0.5% · -0%BIL0.4% · -0%VOO0.4% · +13%WMT0.4% · +2%MS0.4% · -0%JPM0.4% · -0%MRVL0.3% · -1%BAC0.3% · -0%CVX0.3% · -1%V0.3% · -1%CRM0.3% · -1%SCHW0.3% · -0%CRS0.3% · +0%RSG0.3% · -1%GD0.2% · -0%AZN0.2% · -1%SPYM0.2% · +2%SPTM0.2% · +2%AMAT0.2% · -1%NTRA0.2% · 0%UNH0.2% · -5%ETN0.2% · -0%QYLD0.2% · -3%NXPI0.2% · -1%QQQ0.2% · 0%BRK.B0.2% · -4%ZS0.2% · -0%SPDW0.1% · +1%CIEN0.1% · -4%IBDR0.1% · -1%ORCL0.1% · -4%SPCX0.1% · newGL0.1% · 0%MCD0.1% · -4%BSX0.1% · -4%EMN0.1% · -1%HON0.1% · newCOP0.1% · 0%BSMR0.1% · +11%BSMQ0.1% · +11%BSMT0.1% · +13%BSMU0.1% · +12%BSMS0.1% · +11%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 86.1%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 24, 2026.

Assets Under Management
$605.4M
Discretionary
$605.4M
Employees
11
Accounts
2,173
Address
40 NE LOOP 410
SUITE 644
SAN ANTONIO, TX 78216
Phone
(877) 348-8822
Website
Name Title / Status Ownership Type
PELLEGRINO, ENZO, THOMAS ControlCHIEF COMPLIANCE OFFICER
since Oct 2011
Less than 5%Individual
TLHC, LLC ControlOWNER
since Jan 2014
75% or moreDomestic Entity
PELLEGRINO, ENZO, THOMAS Control
Indirect owner via THE ENZO THOMAS PELLEGRINO, JR. LIVING TRUST DTD 1-22-25
TRUSTEE
since Jan 2025
75% or moreIndividual
THE ENZO THOMAS PELLEGRINO, JR. LIVING TRUST DTD 1-22-25 Control
Indirect owner via TLHC, LLC
OWNER
since Jan 2025
75% or moreDomestic Entity
Ownership & leadership changes · 2 filings with changes since Feb 24, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 10, 2025 filing
  • No longer listedPELLEGRINO, ENZO, THOMAS · MANAGING MEMBER · 75% or more · indirect via TLHC, LLC · control person · listed since Jan 2014
  • AddedPELLEGRINO, ENZO, THOMAS · TRUSTEE · 75% or more · indirect via THE ENZO THOMAS PELLEGRINO, JR. LIVING TRUST DTD 1-22-25 · control person
  • AddedTHE ENZO THOMAS PELLEGRINO, JR. LIVING TRUST DTD 1-22-25 · OWNER · 75% or more · indirect via TLHC, LLC · control person
Feb 10, 2014 filing
  • AddedPELLEGRINO, ENZO, THOMAS · MANAGING MEMBER · 75% or more · indirect via TLHC, LLC · control person
  • AddedTLHC, LLC · OWNER · 75% or more · control person
  • ChangedPELLEGRINO, ENZO, THOMAS · title MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER; ownership 75% or more → Less than 5%
Feb 24, 2012 filing (earliest on record)
  • ListedPELLEGRINO, ENZO, THOMAS · MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER · 75% or more · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

TLWM Holdings (2026-09-30)

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 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $126.7M 20.18% 166,090 SH
2 ISHARES TR IWV 464287689 $122.5M 19.53% 283,869 SH
3 ISHARES TR ACWX 464288240 $71.1M 11.33% 940,060 SH
4 SPDR SERIES TRUST SPYG 78464A409 $48.5M 7.73% 394,302 SH
5 INVESCO EXCH TRD SLF IDX FD BSCQ 46138J791 $36.5M 5.81% 1,868,159 SH
6 INVESCO EXCH TRD SLF IDX FD BSCS 46138J643 $35.5M 5.66% 1,765,162 SH
7 INVESCO EXCH TRD SLF IDX FD BSCU 46138J460 $32.9M 5.24% 2,037,594 SH
8 INVESCO EXCH TRD SLF IDX FD BSCT 46138J577 $32.0M 5.10% 1,758,747 SH
9 INVESCO EXCH TRD SLF IDX FD BSCR 46138J783 $28.9M 4.61% 1,480,882 SH
10 NVIDIA CORPORATION NVDA 67066G104 $5.5M 0.88% 24,272 SH
11 APPLE INC AAPL 037833100 $5.2M 0.83% 15,730 SH
12 ISHARES TR IBDS 46435UAA9 $3.9M 0.62% 162,168 SH
13 MICROSOFT CORP MSFT 594918104 $3.3M 0.52% 6,378 SH
14 AMAZON COM INC AMZN 023135106 $3.3M 0.52% 13,085 SH
15 META PLATFORMS INC META 30303M102 $3.1M 0.49% 4,211 SH
16 ALPHABET INC GOOGL 02079K305 $3.0M 0.47% 8,620 SH
17 TESLA INC TSLA 88160R101 $2.9M 0.46% 8,064 SH
18 TWILIO INC TWLO 90138F102 $2.8M 0.45% 9,660 SH
19 SPDR SERIES TRUST BIL 78468R663 $2.8M 0.44% 30,049 SH
20 VANGUARD INDEX FDS VOO 922908363 $2.7M 0.44% 3,902 SH
21 WALMART INC WMT 931142103 $2.4M 0.38% 22,805 SH
22 MORGAN STANLEY MS 617446448 $2.2M 0.36% 11,932 SH
23 JPMORGAN CHASE & CO JPM 46625H100 $2.2M 0.36% 6,746 SH
24 MARVELL TECHNOLOGY INC MRVL 573874104 $2.2M 0.34% 8,157 SH
25 BANK OF AMER CORP BAC 060505104 $2.1M 0.33% 38,324 SH
26 CHEVRON CORPORATION CVX 166764100 $2.0M 0.32% 9,934 SH
27 VISA INC V 92826C839 $2.0M 0.32% 5,633 SH
28 SALESFORCE INC CRM 79466L302 $2.0M 0.32% 8,682 SH
29 CHARLES SCHWAB CORP (THE) SCHW 808513105 $1.8M 0.29% 18,541 SH
30 CARPENTER TECHNOLOGY CORP CRS 144285103 $1.7M 0.27% 4,344 SH
31 REPUBLIC SVCS INC RSG 760759100 $1.7M 0.27% 7,961 SH
32 GENERAL DYNAMICS CORP GD 369550108 $1.5M 0.24% 4,520 SH
33 ASTRAZENECA PLC AZN G0593M107 $1.5M 0.24% 9,203 SH
34 SPDR SERIES TRUST SPYM 78464A854 $1.5M 0.23% 16,271 SH
35 SPDR SERIES TRUST SPTM 78464A805 $1.4M 0.23% 15,497 SH
36 APPLIED MATLS INC AMAT 038222105 $1.4M 0.22% 2,695 SH
37 NATERA INC NTRA 632307104 $1.2M 0.20% 2,973 SH
38 UNITEDHEALTH GROUP INC UNH 91324P102 $1.2M 0.19% 3,229 SH
39 EATON CORP PLC ETN G29183103 $1.1M 0.17% 2,531 SH
40 GLOBAL X FDS QYLD 37954Y483 $1.1M 0.17% 57,399 SH
41 NXP SEMICONDUCTORS N V NXPI N6596X109 $1.0M 0.16% 4,355 SH
42 INVESCO QQQ TR QQQ 46090E103 $986.9K 0.16% 1,334 SH
43 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $980.0K 0.16% 1,968 SH
44 ZSCALER INC ZS 98980G102 $973.6K 0.16% 4,882 SH
45 SPDR INDEX SHS FDS SPDW 78463X889 $909.9K 0.14% 18,121 SH
46 CIENA CORP CIEN 171779309 $854.9K 0.14% 2,430 SH
47 ISHARES TR IBDR 46435GAA0 $836.8K 0.13% 34,520 SH
48 ORACLE CORP ORCL 68389X105 $798.0K 0.13% 5,812 SH
49 SPACE EXPLORATION TECHN CORP SPCX 84615Q103 $779.5K 0.12% 5,167 SH
50 GLOBE LIFE INC GL 37959E102 $778.6K 0.12% 4,700 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-09 $627.5M 74 0001085146-26-000842
2026-06-30 2026-07-07 $614.9M 77 0001732537-26-000004
2026-03-31 2026-04-08 $555.2M 69 0001732537-26-000003
2025-12-31 2026-01-12 $546.3M 72 0001732537-26-000001
Filer Information
Address
40 NE LOOP 410, SUITE 644
SAN ANTONIO, TX 78216
Phone
(210) 541-8600
Filing Manager
TLWM
SAN ANTONIO, TX
Signatory
Alex Butters
Regulatory Consultant