Independent Wealth Network Inc.

RIA/Wealth

Independent Wealth Network Inc. is a RIA/Wealth based in Cary, NC led by Stephen Michael Fisher, managing $305.8M across 276 long positions as of Q3 2025 with 65% ETF concentration.

Managing PartnerStephen Michael Fisher

Portfolio Value: $305.8M
Positions: 276
Top Holding: SPYG at 4.15%
Last Reported: Q3 2025

Address167 E. Chatham Street, Suite 300, Cary, NC, 27511, United States

Top Holdings

Largest long holdings in Independent Wealth Network Inc.'s portfolio (26.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SPDR Portfolio S&P 500 Growth ETF SPYG	ETF ETF	$12.7M	4.15%	+$144.9K Bought	— 121.4K shares	Q3 2021 Held for 4y 2m
2 Caterpillar CAT	Agricultural - Machinery Industrials	$12.7M	4.14%	+$13.4K Bought	0.01% 26.5K shares	Q3 2021 Held for 4y 2m
3 SPDR Portfolio S&P 500 ETF SPLG	ETF ETF	$11.7M	3.82%	+$346.3K Bought	— 149.3K shares	Q3 2021 Held for 4y 2m
4 JPMorgan Ultra-Short Income JPST	ETF ETF	$10.0M	3.26%	+$1.6M Bought	— 196.3K shares	Q3 2021 Held for 4y 2m
5 SPYV SPDR Portfolio S&P 500 Value ETF SPYV	ETF ETF	$8.2M	2.67%	+$369.2K Bought	— 147.5K shares	Q3 2021 Held for 4y 2m
6 iShares MSCI ACWI ACWI	ETF ETF	$5.8M	1.90%	+$174.9K Bought	— 42.1K shares	Q3 2021 Held for 4y 2m
7 iShares Core 10+ Year USD Bond ETF ILTB	ETF ETF	$5.7M	1.88%	+$343.2K Bought	— 113.7K shares	Q3 2021 Held for 4y 2m
8 Nvidia NVDA	Semiconductors Technology	$5.1M	1.67%	+$130.2K Bought	0.00% 27.3K shares	Q3 2021 Held for 4y 2m
9 Apple AAPL	Consumer Electronics Technology	$5.0M	1.63%	+$41.5K Bought	0.00% 19.6K shares	Q3 2021 Held for 4y 2m
10 Chevron CVX	Oil & Gas Integrated Energy	$5.0M	1.62%	+$110.1K Bought	0.00% 31.9K shares	Q3 2021 Held for 4y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Independent Wealth Network Inc.'s latest filing

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Market Value

$305.8M

Prior: $269.7M

Q/Q Change

+13.39%

+$36.1M

Net Flows % of MV

+3.93%

Turnover Ratio

5.35%

New Purchases

14 stocks

$5.1M

Added To

150 stocks

+$15.3M

Sold Out Of

6 stocks

$1.5M

Reduced Holdings

87 stocks

-$6.9M

Increased Positions

Position	Shares Δ	Change
1 GCOW Pacer Global Cash Cows Dividend GCOW	New	0 → 22.9K +$908.2K
2 Packaging Corp of America PKG	New	0 → 3.1K +$679.9K
3 Salesforce CRM	New	0 → 2.5K +$594.2K
4 VanEck IG Floating Rate FLTR	New	0 → 19.7K +$503.3K
5 BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond XEMD	New	0 → 10.2K +$445.2K

Decreased Positions

Position	Shares Δ	Change
1 iShares Biotechnology IBB	Sold	3.4K → 0 −$425.5K
2 SoFi Technologies, Inc. SOFI	Sold	15.7K → 0 −$286.2K
3 SDVD FT Vest SMID Rising Dividend Achievers Target Income SDVD	Sold	12.5K → 0 −$255.8K
4 Intuit INTU	Sold	292.0 → 0 −$230.0K
5 iShares Morningstar Mid-Cap Growth IMCG	Sold	2.6K → 0 −$211.3K

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Analytics

Portfolio insights and performance metrics for Independent Wealth Network Inc.

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Sector Allocation

ETF

65.20%

Technology

8.40%

Industrials

5.70%

Financial Services

3.50%

Energy

2.80%

Consumer Cyclical

2.70%

Consumer Defensive

2.30%

Communication Services

2.20%

Healthcare

0.80%

Basic Materials

0.60%

Utilities

0.20%

Market Cap Distribution

Mega Cap (> $200B)

20.74%

Large Cap ($10B - $200B)

7.25%

Mid Cap ($2B - $10B)

0.24%

Small Cap ($300M - $2B)

0.68%

N/A (ETF or Unknown)

71.09%

Portfolio Concentration

Top 10 Holdings %

26.74%

Top 20 Holdings %

40.52%

Top 50 Holdings %

61.23%

Top 100 Holdings %

78.22%