DOSSIER · 13F-HR · Q1 2026

Tanglewood Wealth Management, Inc.

$1.2B in tracked AUM across 38 positions as of Q1 2026.

TW
CIK 0001454308 · last filed Mar 31, 2026
Total AUM
$1.2B
as of Q1 2026
Holdings
38
positions
Whale Score
71
71
strong
Activity
no data
changes this Q
AI Analysis · Q1 2026

Tanglewood Wealth Management's $1.21B Q1 2026 13F is a 38-ETF portfolio with a meaningful rotation out of gold and into interest-rate-sensitive and dividend-focused strategies. SPY and IVV anchor the equity side at 25%, VEA adds developed-markets exposure at 15.5%, and IEI (3-7 Year Treasury) rose to 15.7% of the book — up from 16.2% in shares but still the second-largest position. The manager added sharply to infrastructure and dividend sleeves: NFRA (FlexShares Infrastructure) up 22.4%, PAVE (Global X Infrastructure) entered as a new $4.0M position, and VIGI (International Dividend Appreciation) was increased despite being reduced in value. Gold was the largest reduction: IAU fell 12% in shares and GLD fell 12.2% in shares. The whaleScore of 74.75 measures the scale of a systematic core allocation, not stock-picking skill.

Tanglewood Wealth Management's Q1 2026 13F is 38 ETFs organized around a standard core-satellite architecture. VTI (Vanguard Total Stock Market) at 15.8%, IEI (iShares 3-7 Year Treasury) at 15.7%, and VEA (Vanguard Developed Markets) at 15.5% anchor the portfolio. IJH (iShares Mid-Cap), IEMG (iShares Emerging Markets), IAU (iShares Gold), SHY (iShares Short Treasury), VGIT (Vanguard Intermediate Treasury), GLD (SPDR Gold), and FNDX (Schwab Fundamental Large-Cap) fill out the core. Into that framework, the manager has added satellite positions in infrastructure (NFRA, PAVE), dividend appreciation (VIGI), quality factor (QLTY), and real estate (VNQ).

The Gold Rotation

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
VTI
VANGUARD TOTAL STOCK MARKET ETF
$191M594K15.8%
02
IEI
ISHARES 3-7 YEAR TREASURY BOND ETF
$189M1.6M15.7%
03
VEA
VANGUARD FTSE DEVELOPED MARKETS ETF
$187M2.9M15.5%
04
IAU
ISHARES GOLD TR
$81M917K6.7%
05
SHY
ISHARES 1-3 YEAR TREASURY BOND ETF
$77M932K6.4%
06
VGIT
VANGUARD INTERMEDIATE-TERM TREASURY ETF
$76M1.3M6.3%
07
GLD
SPDR GOLD TR
$54M126K4.5%
08
FNDX
SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF
$47M1.7M3.9%
09
QQQ
INVESCO QQQ TRUST SERIES I
$44M76K3.7%
10
FRDM
FREEDOM 100 EMERGING MARKETS ETF
$43M791K3.6%

Filing history

2026Q1Mar 31
$1.2B 10.7%
38 positionsView →
2025Q4Dec 31
$1.1B 1.4%
35 positionsView →
2025Q3Sep 30
$1.1B 6.1%
39 positionsView →
2025Q2Jun 30
$1.0B 14.1%
40 positionsLocked
2025Q1Mar 31
$889M 2.4%
36 positionsLocked
2024Q4Dec 31
$868M 0.0%
34 positionsLocked
2024Q3Sep 30
$868M 7.9%
36 positionsLocked
2024Q2Jun 30
$804M 0.6%
30 positionsLocked
2024Q1Mar 31
$809M 0.9%
33 positionsLocked
2023Q4Dec 31
$817M 38.5%
32 positionsLocked
2023Q3Sep 30
$590M 15.7%
23 positionsLocked
2023Q2Jun 30
$699M 1.6%
29 positionsLocked
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