Twele Capital Management, Inc.

Registered adviser

CIK

1411268

Location

MINNETONKA, MN

Portfolio Value

Small $288,824,562

Diversification

Moderately concentrated

Filing Date

Global Rank

#3,287 / 8,807 ▲ 1633 · as of Jun 2026

Top Industry

Consumer Electronics 73.6%

Period ended 20 days ago

Filed Oct 13, 2026 · 7d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 130239

Roster of Oct 1, 2026

Regulatory AUM

$578,455,059

Main clients

Pension and profit sharing plans (79% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Feb 2026 to Oct 2026	$578,455,059	Pension and profit sharing plans (79%)
Feb 2025 to Jan 2026	$484,354,195	Pension and profit sharing plans (80%)
Apr 2024 to Jan 2025	$636,528,502	Pension and profit sharing plans (87%)
May 2023 to Mar 2024	$624,711,832	Pension and profit sharing plans (88%)
Mar 2023 to Apr 2023	$624,711,832	Pension and profit sharing plans (88%)
Feb 2022 to Feb 2023	$810,904,079	Pension and profit sharing plans (88%)

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 100.0% of the book (60%+)

Turnover

Low turnover

4.0% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 25.6 quarters (12+), a floor since 97.2% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 96.3%; sector active share 90.5% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

39 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

38.8%

−14.0 pts

Top 5

91.0%

−2.0 pts

Top 10

100.0%

+0.0 pts

HHI

2,347

Moderately concentrated−963

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	99.6%	$287,667,249	37
Technology	0.4%	$1,157,313	2

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	+39,024	845,628	$59,320,804
AGG	iShares Core U.S. Aggregate Bond ETF	+23,595	539,155	$0
IEF	iShares 7-10 Year Treasury Bond ETF	+20,041	562,022	$0
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	+14,678	40,307	$1,908,939
USHY	iShares Broad USD High Yield Corporate Bond ETF	+11,888	197,247	$0
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	+6,239	206,638	$15,962,785
VO	VANGUARD MID-CAP INDEX FUND	+4,908	285,791	$22,411,730
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	+1,944	119,670	$0
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	+1,935	295,014	$45,786,172
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	+1,094	254,540	$15,096,767
SCHZ	Schwab U.S. Aggregate Bond ETF	+842	60,806	$1,343,812
SCHO	Schwab Short-Term U.S. Treasury ETF	+720	45,693	$1,090,234
IEMG	iShares Trust	+690	206,181	$0
SCHR	Schwab Intermediate-Term U.S. Treasury ETF	+528	23,609	$559,533
VB	Vanguard Index Funds	+464	76,903	$21,878,134
IEFA	iShares Core MSCI EAFE ETF	+387	305,503	$0
IJR	iShares Core S&P Small-Cap ETF	+359	166,290	$0
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND	+336	15,681	$1,227,979
VOO	VANGUARD 500 INDEX FUND	+52	95,872	$67,192,849
AAPL	Apple Inc.	+1	2,559	$852,198
No positions match the current search.

Trimmed

Positions the filer reduced

17 positions

Ticker	Company	Δ Shares	Shares	Value
GOVT	iShares U.S. Treasury Bond ETF	−5,105	182,200	$0
MUB	iShares National Muni Bond ETF	−4,333	12,290	$0
IJH	iShares Core S&P Mid-Cap ETF	−1,610	377,307	$0
IVV	iShares Core S&P 500 ETF	−1,408	91,682	$0
IEI	iShares 3-7 Year Treasury Bond ETF	−1,025	15,476	$0
VEA	Vanguard FTSE Developed Markets ETF	−822	403,733	$28,507,587
SCHE	Schwab Emerging Markets Equity ETF	−782	9,064	$330,382
SCHF	Schwab International Equity ETF	−588	34,269	$941,369
SCHX	Schwab U.S. Large-Cap ETF	−392	37,972	$1,139,160
SCHB	Schwab U.S. Broad Market ETF	−363	26,916	$788,907
SCHA	Schwab U.S. Small-Cap ETF	−345	29,787	$971,949
NVDA	Nvidia Corp	−160	1,336	$305,115
SCHM	Schwab U.S. Mid-Cap ETF	−78	18,103	$615,864
DVY	iShares Select Dividend ETF	−37	2,207	$0
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	−30	242,175	$0
VUG	VANGUARD GROWTH INDEX FUND	−12	6,573	$592,293
EFA	iShares MSCI EAFE ETF	−9	18,872	$0
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
TLT	iShares 20+ Year Treasury Bond ETF	2,411	$208,358
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

39 tracked positions · $288,824,562 total · filing declares 39 positions · $604,767,179 · as of Sep 30, 2026

All sectors Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
VOO	VANGUARD 500 INDEX FUND	Added	95,872	+52	$67,192,849	+2.1%	23.26%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Added	845,628	+39,024	$59,320,804	+0.2%	20.54%
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	Added	295,014	+1,935	$45,786,172	−1.1%	15.85%
VEA	Vanguard FTSE Developed Markets ETF	Reduced	403,733	-822	$28,507,587	−1.1%	9.87%
VO	VANGUARD MID-CAP INDEX FUND	Added	285,791	+4,908	$22,411,730	−1.0%	7.76%
VB	Vanguard Index Funds	Added	76,903	+464	$21,878,134	−5.6%	7.57%
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	Added	206,638	+6,239	$15,962,785	+0.8%	5.53%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Added	254,540	+1,094	$15,096,767	−0.2%	5.23%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	Added	40,307	+14,678	$1,908,939	+47.3%	0.66%
SCHZ	Schwab U.S. Aggregate Bond ETF	Added	60,806	+842	$1,343,812	−3.1%	0.47%
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND	Added	15,681	+336	$1,227,979	−3.2%	0.43%
SCHX	Schwab U.S. Large-Cap ETF	Reduced	37,972	-392	$1,139,160	+0.9%	0.39%
SCHO	Schwab Short-Term U.S. Treasury ETF	Added	45,693	+720	$1,090,234	+0.4%	0.38%
SCHA	Schwab U.S. Small-Cap ETF	Reduced	29,787	-345	$971,949	−10.7%	0.34%
SCHF	Schwab International Equity ETF	Reduced	34,269	-588	$941,369	−2.5%	0.33%
AAPL	Apple Inc. Technology	Added	2,559	+1	$852,198	+15.1%	0.30%
SCHB	Schwab U.S. Broad Market ETF	Reduced	26,916	-363	$788,907	−0.1%	0.27%
SCHM	Schwab U.S. Mid-Cap ETF	Reduced	18,103	-78	$615,864	−8.1%	0.21%
VUG	VANGUARD GROWTH INDEX FUND	Reduced	6,573	-12	$592,293	+4.4%	0.21%
SCHR	Schwab Intermediate-Term U.S. Treasury ETF	Added	23,609	+528	$559,533	−1.7%	0.19%
SCHE	Schwab Emerging Markets Equity ETF	Reduced	9,064	-782	$330,382	−7.5%	0.11%
NVDA	Nvidia Corp Technology	Reduced	1,336	-160	$305,115	+1.9%	0.11%
AGG	iShares Core U.S. Aggregate Bond ETF	Added	539,155	+23,595	$0	−100.0%	0.00%
DVY	iShares Select Dividend ETF	Reduced	2,207	-37	$0	−100.0%	0.00%
EFA	iShares MSCI EAFE ETF	Reduced	18,872	-9	$0	−100.0%	0.00%
GOVT	iShares U.S. Treasury Bond ETF	Reduced	182,200	-5,105	$0	−100.0%	0.00%
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Reduced	242,175	-30	$0	−100.0%	0.00%
IEF	iShares 7-10 Year Treasury Bond ETF	Added	562,022	+20,041	$0	−100.0%	0.00%
IEFA	iShares Core MSCI EAFE ETF	Added	305,503	+387	$0	−100.0%	0.00%
IEI	iShares 3-7 Year Treasury Bond ETF	Reduced	15,476	-1,025	$0	−100.0%	0.00%
IEMG	iShares Trust	Added	206,181	+690	$0	−100.0%	0.00%
IJH	iShares Core S&P Mid-Cap ETF	Reduced	377,307	-1,610	$0	−100.0%	0.00%
IJR	iShares Core S&P Small-Cap ETF	Added	166,290	+359	$0	−100.0%	0.00%
IVV	iShares Core S&P 500 ETF	Reduced	91,682	-1,408	$0	−100.0%	0.00%
IWF	iShares Russell 1000 Growth ETF	Held	6,196	0	$0	−100.0%	0.00%
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Added	119,670	+1,944	$0	−100.0%	0.00%
MUB	iShares National Muni Bond ETF	Reduced	12,290	-4,333	$0	−100.0%	0.00%
SHY	iShares 1-3 Year Treasury Bond ETF	Held	5,356	0	$0	−100.0%	0.00%
USHY	iShares Broad USD High Yield Corporate Bond ETF	Added	197,247	+11,888	$0	−100.0%	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.