DENVER WEALTH MANAGEMENT, INC.

RIA/Wealth

DENVER WEALTH MANAGEMENT, INC. is a RIA/Wealth based in Denver, CO led by Zachary Tobias Bouck, reporting $435.7M in AUM as of Q3 2025 with 91% ETF concentration, 72% concentrated in top 10 holdings, and 22% allocation to SPLG.

CIOZachary Tobias Bouck

Portfolio Value: $271.1M
Positions: 90
Top Holding: SPLG at 22.37%
Last Reported: Q3 2025

Address4582 S Ulster St., Suite 1300, Denver, CO, 80237, United States

Top Holdings

Largest long holdings in DENVER WEALTH MANAGEMENT, INC.'s portfolio (71.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SPDR Portfolio S&P 500 ETF SPLG	ETF ETF	$60.6M	22.37%	+$270.4K Bought	— 774.2K shares	Q2 2022 Held for 3y 5m
2 Invesco NASDAQ 100 ETF QQQM	ETF ETF	$51.9M	19.13%	+$7.2M Bought	— 209.9K shares	Q2 2022 Held for 3y 5m
3 RWL Invesco S&P 500 Revenue ETF RWL	ETF ETF	$17.1M	6.29%	+$420.4K Bought	— 154.2K shares	Q2 2022 Held for 3y 5m
4 iShares Russell 1000 Growth IWF	ETF ETF	$15.0M	5.52%	-$491.4K Sold	— 32.0K shares	Q2 2022 Held for 3y 5m
5 Janus Henderson AAA CLO JAAA	ETF ETF	$10.6M	3.92%	+$295.5K Bought	— 209.2K shares	Q3 2024 Held for 1y 2m
6 First Trust Rising Dividend Achievers RDVY	ETF ETF	$9.9M	3.67%	+$74.9K Bought	— 147.9K shares	Q2 2022 Held for 3y 5m
7 Apple AAPL	Consumer Electronics Technology	$8.0M	2.94%	-$314.2K Sold	0.00% 31.3K shares	Q2 2022 Held for 3y 5m
8 SPYV SPDR Portfolio S&P 500 Value ETF SPYV	ETF ETF	$7.9M	2.90%	+$374.2K Bought	— 142.2K shares	Q1 2024 Held for 1y 8m
9 SPDR Portfolio S&P 500 Growth ETF SPYG	ETF ETF	$6.9M	2.55%	-$335.3K Sold	— 66.3K shares	Q4 2022 Held for 2y 11m
10 Invesco S&P MidCap Quality XMHQ	ETF ETF	$6.0M	2.20%	+$4.7M Bought	— 56.7K shares	Q3 2024 Held for 1y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in DENVER WEALTH MANAGEMENT, INC.'s latest filing

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Market Value

$271.1M

Prior: $241.4M

Q/Q Change

+12.29%

+$29.7M

Net Flows % of MV

+4.52%

Turnover Ratio

5.64%

New Purchases

7 stocks

$6.2M

Added To

35 stocks

+$15.2M

Sold Out Of

3 stocks

$775.7K

Reduced Holdings

46 stocks

-$8.4M

Increased Positions

Position	Shares Δ	Change
1 Global X 1-3 Month T-Bill CLIP	New	0 → 36.0K +$3.6M
2 iShares Core Moderate Allocation AOM	New	0 → 15.4K +$734.1K
3 Fidelity Enhanced International FENI	New	0 → 20.2K +$711.0K
4 PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund MUNI	New	0 → 7.6K +$397.3K
5 iShares Core Conservative Allocation AOK	New	0 → 7.1K +$285.3K

Decreased Positions

Position	Shares Δ	Change
1 SPDR S&P MidCap 400 ETF MDY	Sold	851.0 → 0 −$482.1K
2 Invesco BulletShares 2027 Municipal Bond BSMR	Sold	10.5K → 0 −$245.6K
3 Cardiff Oncology CRDF	Sold	15.2K → 0 −$48.0K
4 US Treasury 3 Month Bill ETF TBIL	-54.38%	162.1K → 74.0K −$4.4M
5 Invesco BulletShares 2025 Municipal Bond BSMP	-35.41%	37.9K → 24.5K −$329.5K