RCW Management, LLC

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Portfolio value: $111M
Positions: 67
Quarter ended: September 30, 2026
Filed: October 30, 2026

Reported portfolio value by quarter (4 quarters reported)

$112M $97.6M

Q4 25 Q1 26 Q2 26 Q3 26

$99M in Q4 2025 → $111M now. Hover for any quarter.

Holdings

As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
SS Schwab Strategic Tr	8.6%	Trimmed 1.0%	265,115	$9.53M
VW Vanguard World Fd	7.9%	Trimmed 1.9%	69,677	$8.76M
SS Schwab Strategic Tr	7.2%	Trimmed 2.4%	273,028	$8M
SS Select Sector SPDR Tr	6.4%	Unchanged	36,107	$7.07M
VI Vanguard Index Fds	4.2%	Trimmed 0.8%	13,249	$4.66M
SS Schwab Strategic Tr	3.5%	Trimmed 2.7%	129,251	$3.88M
VW Vanguard World Fd	3.3%	Trimmed 0.3%	28,237	$3.67M
VW Vanguard World Fd	3.1%	Trimmed 2.9%	10,720	$3.39M
VT Vanguard Tax-managed Fds	2.9%	Added 0.8%	45,994	$3.25M
IQ Invesco Qqq Tr	2.9%	Trimmed 1.4%	4,326	$3.2M
BE Blackrock ETF Trust	2.7%	Added 3.3%	43,061	$2.98M
VI Vanguard Index Fds	2.1%	Trimmed 1.2%	10,965	$2.37M
VW Vanguard World Fd	2.1%	Trimmed 0.0%	7,292	$2.34M
VW Vanguard World Fd	1.9%	Trimmed 3.0%	9,474	$2.07M
IT Ishares Tr	1.8%	Added 1.0%	19,529	$2.03M
SS Select Sector SPDR Tr	1.8%	Trimmed 0.3%	31,446	$1.93M
WG World Gold Tr	1.7%	Trimmed 0.6%	22,946	$1.89M
SS Select Sector SPDR Tr	1.7%	Unchanged	34,592	$1.85M
VW Vanguard World Fd	1.6%	Trimmed 0.7%	9,281	$1.77M
SS Schwab Strategic Tr	1.6%	Unchanged	53,485	$1.75M
IT Ishares Tr	1.6%	Trimmed 6.1%	12,592	$1.71M
SS Schwab Strategic Tr	1.5%	Trimmed 1.7%	48,886	$1.66M
Csx Corp	1.5%	Unchanged	34,814	$1.62M
SS Schwab Strategic Tr	1.5%	Trimmed 0.7%	58,836	$1.62M
SS Select Sector SPDR Tr	1.4%	Added 0.3%	9,499	$1.59M
VE Vaneck ETF Trust	1.3%	Trimmed 3.4%	13,744	$1.45M
IT Ishares Tr	1.2%	Trimmed 0.7%	31,776	$1.28M
SS Select Sector SPDR Tr	1.1%	Trimmed 0.0%	25,374	$1.24M
VW Vanguard World Fd	1.0%	Trimmed 4.4%	3,178	$1.16M
IT Ishares Tr	1.0%	Added 0.9%	24,980	$1.1M
SI SPDR Index Shs Fds	0.9%	Added 2.0%	20,161	$1.04M
SS Select Sector SPDR Tr	0.9%	Trimmed 1.9%	9,315	$1.01M
FM Fidelity Merrimack Str Tr	0.9%	Added 20%	22,590	$978K
SS Schwab Strategic Tr	0.9%	Added 2.1%	41,111	$974K
VS Vanguard Scottsdale Fds	0.8%	Unchanged	12,135	$937K
SS SPDR Series Trust	0.8%	Unchanged	8,639	$874K
IG Ishares Gold Tr	0.8%	Trimmed 0.3%	10,988	$858K
SS Schwab Strategic Tr	0.7%	Added 0.3%	36,746	$810K
SS Schwab Strategic Tr	0.7%	Trimmed 0.0%	24,518	$798K
SS SPDR Series Trust	0.7%	Unchanged	1,915	$732K
VI Vanguard Index Fds	0.6%	Unchanged	1,008	$707K
SS SPDR Series Trust	0.6%	Unchanged	7,233	$695K
FT First Tr Exchange-traded Fd	0.6%	Trimmed 1.6%	2,762	$611K
SS Select Sector SPDR Tr	0.5%	Unchanged	5,367	$596K
VW Vanguard Whitehall Fds	0.5%	Unchanged	3,780	$587K
Apple Inc	0.5%	Added 0.1%	1,649	$549K
BH Berkshire Hathaway Inc Del	0.5%	Unchanged	1,090	$543K
Welltower Inc	0.5%	Added 0.0%	2,266	$522K
SS SPDR Series Trust	0.4%	Unchanged	7,429	$470K
SS Schwab Strategic Tr	0.4%	Unchanged	20,609	$455K
IT Ishares Tr	0.4%	Trimmed 3.8%	4,099	$432K
SS Select Sector SPDR Tr	0.4%	Added 0.0%	9,830	$402K
VS Vanguard Specialized Funds	0.4%	Trimmed 1.2%	1,682	$392K
IT Ishares Tr	0.3%	Added 0.0%	4,118	$369K
SS Schwab Strategic Tr	0.3%	Trimmed 0.6%	9,119	$332K
VI Vanguard Index Fds	0.3%	Unchanged	4,100	$322K
JP J P Morgan Exchange Traded F	0.3%	Trimmed 15%	5,758	$290K
Johnson & Johnson	0.3%	Unchanged	1,072	$284K
SS SPDR Series Trust	0.2%	Added 5.9%	4,893	$259K
IT Ishares Tr	0.2%	Unchanged	5,069	$255K

Showing top 60 of 67 positions.

Timeline of changes

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 3 quarters.

Q3 2026

quarter ended September 30, 2026 · filed October 30, 2026

Company	Action	Shares changed	Value of change	% of portfolio
VW Vanguard World Fd	Exited	−1,132	−$222K	—
SS Schwab Strategic Tr	Trimmed	−6,593	−$193K	7.2%
VW Vanguard World Fd	Trimmed	−1,357	−$171K	7.9%
FM Fidelity Merrimack Str Tr	Added	+3,816	+$165K	0.9%
SA Sprott Asset Management LP	Trimmed	−3,692	−$153K	0.2%
IT Ishares Tr	Trimmed	−820	−$112K	1.6%
SS Schwab Strategic Tr	Trimmed	−3,588	−$108K	3.5%
VW Vanguard World Fd	Trimmed	−317	−$100K	3.1%
SS Schwab Strategic Tr	Trimmed	−2,689	−$96.6K	8.6%
BE Blackrock ETF Trust	Added	+1,375	+$95.2K	2.7%

Showing the 10 largest of 45 changes.

Q2 2026

quarter ended June 30, 2026 · filed July 21, 2026

Company	Action	Shares changed	Value of change	% of portfolio
VW Vanguard World Fd	Added	+61,922	+$7.4M	7.6%
Csx Corp	Added	+24,239	+$1.15M	1.5%
SI SPDR Index Shs Fds	Added	+5,820	+$301K	0.9%
VI Vanguard Index Fds	Added	+3,075	+$248K	0.3%
IT Ishares Tr	Trimmed	−1,530	−$227K	1.8%
EG Etfs Gold Tr	Exited	−4,795	−$214K	—
IE Invesco Exchange Traded Fd T	New	+4,400	+$201K	0.2%
BE Blackrock ETF Trust	Added	+2,784	+$189K	2.5%
WG World Gold Tr	Trimmed	−2,075	−$165K	1.6%
SS Schwab Strategic Tr	Trimmed	−4,161	−$122K	3.5%

Showing the 10 largest of 45 changes.

Q1 2026

quarter ended March 31, 2026 · filed April 15, 2026

Company	Action	Shares changed	Value of change	% of portfolio
VT Vanguard Tax-managed Fds	Added	+9,688	+$621K	3.0%
BE Blackrock ETF Trust	Added	+4,165	+$242K	2.3%
IT Ishares Tr	New	+4,146	+$239K	0.2%
IE Invesco Exchange Traded Fd T	Exited	−4,400	−$237K	—
SI SPDR Index Shs Fds	Added	+5,058	+$237K	0.7%
WG World Gold Tr	Trimmed	−2,441	−$226K	2.4%
VW Vanguard World Fd	New	+948	+$214K	0.2%
SS SPDR Series Trust	New	+4,208	+$203K	0.2%
IT Ishares Tr	Trimmed	−1,565	−$195K	1.9%
VI Vanguard Index Fds	Added	+584	+$175K	4.0%

Showing the 10 largest of 47 changes.

Comments