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Forthright Family Wealth Advisory LLC — 13F Holdings & Portfolio

CIK 2008648 · latest 13F-HR filed 2026-11-03

Backtest portfolio

Forthright Family Wealth Advisory LLC manages $175.8M in 13F-reported U.S. long-equity assets across 56 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are SPYM (10.75%), IVW (8.00%), DFAC (7.37%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 1 new position and exited 2; 6 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.

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AUM
$175.8M

Long-equity book

Holdings
56

Distinct positions

Period
2026-09-30

Filed 2026-11-03

Q/Q Activity
+1 / −2 / ↑6 / ↓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
SPYM10.7% · +0%IVW8.0% · +0%DFAC7.4% · +0%QUAL7.0% · -0%BRTR6.5% · -4%EFV6.4% · -0%AVLV6.0% · +0%EMXC5.4% · -0%SCHZ3.9% · -1%IYW3.8% · -0%OEF3.6% · -0%VMBS2.7% · -2%MTUM2.2% · -0%VGLT2.1% · +0%THRO2.0% · -0%EFG2.0% · 0%IAU2.0% · +0%AAPL1.7% · -0%CGMS1.7% · -1%IFRA1.5% · +0%GEQ1.2% · +0%PM1.1% · -1%DFAU1.0% · -0%MSFT0.9% · 0%SPEM0.8% · -6%VOO0.8% · +0%JPMB0.6% · +0%GOOGL0.6% · 0%AMZN0.5% · -0%CORO0.5% · +8%VEA0.5% · +0%DFSD0.4% · -0%BNDX0.4% · +4%NVDA0.3% · 0%ZAUG0.3% · 0%DFAI0.3% · -1%VWO0.2% · +43%DFCF0.2% · -0%BSV0.2% · +0%MO0.2% · 0%GOVT0.2% · +7%META0.2% · 0%WDEF0.2% · -2%PGR0.2% · 0%GOOG0.1% · -0%DFAE0.1% · -1%TDY0.1% · 0%CFG0.1% · 0%SHLD0.1% · -25%BAI0.1% · -24%PFF0.1% · +1%ODFL0.1% · 0%RF0.1% · 0%SPCX0.1% · newPRI0.1% · 0%BG0.1% · 0%

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

5 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 = 65.1%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 31, 2026.

Assets Under Management
$191.2M
Discretionary
$191.2M
Employees
2
Accounts
221
Address
825 TOWN & COUNTRY LN.
12TH FL.
HOUSTON, TX 77024
Phone
(713) 510-3510
Website
This firm reports 1 disclosure item on its registration.
Name Title / Status Ownership Type
CARLSON, NEAL, DAVID ControlMANAGING MEMBER, CEO, CCO
since Jun 2019
Less than 5%Individual
KEEN HOLDINGS LP ControlMANAGER
since Jun 2019
75% or moreDomestic Entity
CARLSON, KRISTEN, T. Control
Indirect owner via KEEN INTERESTS LLC
OWNER
since Jun 2019
50–75%Individual
CARLSON, NEAL, DAVID Control
Indirect owner via KEEN INTERESTS LLC
OWNER
since Apr 2021
50–75%Individual
CARLSON, NEAL, DAVID Control
Indirect owner via KEEN FAMILY TRUST
TRUSTEE
since Apr 2021
General partner, trustee or managerIndividual
KEEN INTERESTS LLC Control
Indirect owner via KEEN HOLDINGS LP
GENERAL PARTNER
since Jun 2019
General partner, trustee or managerDomestic Entity
KEEN FAMILY TRUST
Indirect owner via KEEN HOLDINGS LP
LIMITED PARTNER
since Jun 2019
75% or moreDomestic Entity
Ownership & leadership changes · 3 filings with changes since Jul 12, 2019

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 25, 2024 filing
  • Listed againCARLSON, NEAL, DAVID · TRUSTEE · General partner, trustee or manager · indirect via KEEN FAMILY TRUST · control person
  • ChangedCARLSON, NEAL, DAVID · title MANAGING MEMBER, CHIEF COMPLIANCE OFFICER → MANAGING MEMBER, CEO, CCO
Mar 30, 2023 filing
  • No longer listedCARLSON, NEAL, DAVID · TRUSTEE · 50–75% · indirect via KEEN FAMILY TRUST · control person · listed since Apr 2021
  • AddedCARLSON, NEAL, DAVID · OWNER · 50–75% · indirect via KEEN INTERESTS LLC · control person
  • ChangedKEEN FAMILY TRUST · indirect via KEEN HOLDINGS LP: no longer a control person
Mar 29, 2022 filing
  • No longer listedCARLSON, JACK, D. · OWNER · 50–75% · indirect via KEEN INTERESTS LLC · control person · listed since Jun 2019
  • ChangedCARLSON, NEAL, DAVID · indirect via KEEN FAMILY TRUST: ownership General partner, trustee or manager → 50–75%
Jul 12, 2019 filing (earliest on record)
  • ListedCARLSON, JACK, D. · OWNER · 50–75% · indirect via KEEN INTERESTS LLC · control person
  • ListedCARLSON, KRISTEN, T. · OWNER · 50–75% · indirect via KEEN INTERESTS LLC · control person
  • ListedCARLSON, NEAL, DAVID · MANAGING MEMBER, CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedCARLSON, NEAL, DAVID · TRUSTEE · General partner, trustee or manager · indirect via KEEN FAMILY TRUST · control person
  • ListedKEEN FAMILY TRUST · LIMITED PARTNER · 75% or more · indirect via KEEN HOLDINGS LP · control person
  • ListedKEEN HOLDINGS LP · MANAGER · 75% or more · control person
  • ListedKEEN INTERESTS LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via KEEN HOLDINGS LP · 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.

Top Adds (vs prior quarter)

Show all 6 →

Top Trims

Show all 18 →

New Positions

Show all 1 →

Exited Positions

Show all 2 →

Forthright Family Wealth Advisory LLC 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 SPDR SERIES TRUST SPYM 78464A854 $18.9M 10.75% 210,488 SH
2 ISHARES TR IVW 464287309 $14.1M 8.00% 98,910 SH
3 DIMENSIONAL ETF TRUST DFAC 25434V708 $13.0M 7.37% 291,471 SH
4 ISHARES TR QUAL 46432F339 $12.3M 7.02% 55,553 SH
5 BLACKROCK ETF TRUST II BRTR 092528876 $11.3M 6.45% 237,021 SH
6 ISHARES TR EFV 464288877 $11.3M 6.43% 142,855 SH
7 AMERICAN CENTY ETF TR AVLV 025072349 $10.5M 5.99% 116,379 SH
8 ISHARES INC EMXC 46434G764 $9.4M 5.37% 95,206 SH
9 SCHWAB STRATEGIC TR SCHZ 808524839 $6.9M 3.93% 312,917 SH
10 ISHARES TR IYW 464287721 $6.7M 3.82% 25,356 SH
11 ISHARES TR OEF 464287101 $6.3M 3.61% 16,595 SH
12 VANGUARD SCOTTSDALE FDS VMBS 92206C771 $4.7M 2.66% 105,456 SH
13 ISHARES TR MTUM 46432F396 $3.9M 2.21% 12,227 SH
14 VANGUARD SCOTTSDALE FDS VGLT 92206C847 $3.7M 2.11% 73,969 SH
15 BLACKROCK ETF TRUST THRO 09290C806 $3.6M 2.03% 81,177 SH
16 ISHARES TR EFG 464288885 $3.5M 2.02% 29,574 SH
17 ISHARES GOLD TR IAU 464285204 $3.5M 2.01% 45,199 SH
18 APPLE INC AAPL 037833100 $3.0M 1.71% 9,032 SH
19 CAPITAL GRP FIXED INCM ETF T CGMS 14020Y300 $3.0M 1.70% 114,148 SH
20 ISHARES TR IFRA 46435U713 $2.7M 1.51% 48,270 SH
21 EA SERIES TRUST GEQ 02072Q176 $2.0M 1.16% 40,108 SH
22 PHILIP MORRIS INTL INC PM 718172109 $1.9M 1.09% 10,002 SH
23 DIMENSIONAL ETF TRUST DFAU 25434V104 $1.8M 1.03% 34,634 SH
24 MICROSOFT CORP MSFT 594918104 $1.7M 0.95% 3,249 SH
25 SPDR INDEX SHS FDS SPEM 78463X509 $1.5M 0.84% 28,639 SH
26 VANGUARD INDEX FDS VOO 922908363 $1.5M 0.84% 2,114 SH
27 J P MORGAN EXCHANGE TRADED F JPMB 46641Q746 $1.1M 0.61% 28,291 SH
28 ALPHABET INC GOOGL 02079K305 $987.9K 0.56% 2,871 SH
29 AMAZON COM INC AMZN 023135106 $923.6K 0.53% 3,707 SH
30 BLACKROCK ETF TRUST CORO 09290C764 $827.8K 0.47% 22,772 SH
31 VANGUARD TAX-MANAGED FDS VEA 921943858 $800.5K 0.46% 11,337 SH
32 DIMENSIONAL ETF TRUST DFSD 25434V864 $737.7K 0.42% 15,874 SH
33 VANGUARD CHARLOTTE FDS BNDX 92203J407 $659.3K 0.38% 14,068 SH
34 NVIDIA CORPORATION NVDA 67066G104 $600.1K 0.34% 2,628 SH
35 INNOVATOR ETFS TRUST ZAUG 45783Y111 $557.7K 0.32% 20,000 SH
36 DIMENSIONAL ETF TRUST DFAI 25434V203 $519.3K 0.30% 12,535 SH
37 VANGUARD INTL EQUITY INDEX F VWO 922042858 $400.2K 0.23% 6,748 SH
38 DIMENSIONAL ETF TRUST DFCF 25434V872 $360.5K 0.21% 8,985 SH
39 VANGUARD BD INDEX FDS BSV 921937827 $354.5K 0.20% 4,640 SH
40 ALTRIA GROUP INC MO 02209S103 $336.7K 0.19% 5,000 SH
41 ISHARES TR GOVT 46429B267 $333.2K 0.19% 15,237 SH
42 META PLATFORMS INC META 30303M102 $320.5K 0.18% 442 SH
43 WISDOMTREE TR WDEF 97717Y337 $285.8K 0.16% 10,223 SH
44 PROGRESSIVE CORP PGR 743315103 $264.7K 0.15% 1,277 SH
45 ALPHABET INC GOOG 02079K107 $240.6K 0.14% 706 SH
46 DIMENSIONAL ETF TRUST DFAE 25434V302 $233.5K 0.13% 5,940 SH
47 TELEDYNE TECHNOLOGIES INC TDY 879360105 $233.0K 0.13% 384 SH
48 CITIZENS FINL GROUP INC CFG 174610105 $232.9K 0.13% 3,653 SH
49 GLOBAL X FDS SHLD 37960A529 $227.2K 0.13% 3,782 SH
50 BLACKROCK ETF TRUST BAI 09290C780 $224.7K 0.13% 4,762 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-03 $175.8M 56 0002008648-26-000004
2026-06-30 2026-07-16 $176.7M 57 0002008648-26-000003
2026-03-31 2026-05-13 $149.1M 63 0002008648-26-000002
2025-12-31 2026-02-23 $159.1M 47 0002008648-26-000001
2025-09-30 2025-11-04 $162.7M 56 0002008648-25-000005
Filer Information
Address
825 TOWN AND COUNTRY LN
12TH FL
HOUSTON, TX 77024
Phone
(713) 510-3510
Filing Manager
Forthright Family Wealth Advisory LLC
HOUSTON, TX
Signatory
Neal D. Carlson
Managing Director