CWM, LLC

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CIK 1535847

13F portfolio (2026-Q1)

$38.0B

Positions

5,645

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

5644

Top 5

10.7%

Top 10

17.7%

Effective N

171.0

HHI

0.006

This quarter

288 new · 1 exit →

By sector

Unclassified66.7%

Information Technology9.6%

Financials4.5%

Consumer Discretionary4.1%

Industrials3.9%

Health Care3.4%

Communication Services2.4%

Materials1.3%

Other4.0%

By market cap

Unknown67.3%

Mega (>$200B)16.1%

Large ($10–200B)13.8%

Mid ($2–10B)2.3%

Small ($300M–2B)0.5%

Micro (<$300M)0.0%

By region

Other66.7%

North America33.0%

Europe0.2%

Asia-Pacific0.1%

Middle East0.0%

Latin America0.0%

Africa0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	67.18%	2210
Semiconductors & Semiconductor Equipment	3.21%	106
Technology Hardware & Equipment	3.03%	95
Pharmaceuticals & Biotechnology	2.72%	373
Specialty Retail	2.48%	111
Software	2.41%	144
Software & IT Services	1.85%	121
Banks	1.74%	377
Oil, Gas & Consumable Fuels	1.31%	114
Machinery	1.21%	131
Insurance	1.14%	115
Utilities	1.14%	109
Commercial Services & Supplies	1.06%	130
Capital Markets	0.80%	87
Chemicals	0.77%	102
Aerospace & Defense	0.68%	50
Automobiles & Components	0.68%	49
Equity Real Estate Investment Trusts (REITs)	0.56%	162
Diversified Telecommunication Services	0.43%	38
Health Care Equipment & Supplies	0.41%	114
Construction & Engineering	0.40%	48
Beverages	0.39%	23
Electrical Equipment & Components	0.39%	16
Metals & Mining	0.38%	102
Media & Entertainment	0.36%	55
Food Products	0.34%	40
Road & Rail	0.31%	22
Hotels, Restaurants & Leisure	0.31%	58
Distributors	0.27%	66
Airlines	0.21%	19
Life Sciences Tools & Services	0.20%	25
Textiles, Apparel & Luxury Goods	0.19%	32
Tobacco	0.18%	5
Communications Equipment	0.17%	27
Health Care Providers & Services	0.15%	62
Transportation Infrastructure	0.13%	17
Paper & Forest Products	0.11%	26
Diversified Consumer Services	0.10%	24
Entertainment	0.10%	33
Professional Services	0.09%	30
Marine	0.09%	26
Media & Publishing	0.08%	17
Construction Materials	0.07%	23
Food & Staples Retailing	0.05%	13
Real Estate Management & Development	0.04%	41
Leisure Products	0.03%	18
Household Durables	0.03%	22
Agricultural Products	0.03%	8
Coal & Consumable Fuels	0.01%	8

Top holdings

#	Ticker	Name	Sector	Weight
1	IVV	ISHARES TR	Unclassified	2.39%
2	SPYM	SPDR SERIES TRUST	Unclassified	2.26%
3	IUSB	ISHARES TR	Unclassified	2.14%
4	SPDW	SPDR INDEX SHS FDS	Unclassified	2.12%
5	AAPL	Apple Inc.	Information Technology	1.82%
6	NVDA	NVIDIA CORP	Information Technology	1.59%
7	IVE	ISHARES TR	Unclassified	1.42%
8	IVW	ISHARES TR	Unclassified	1.42%
9	CORO	BLACKROCK ETF TRUST	Unclassified	1.37%
10	DYNF	BLACKROCK ETF TRUST	Unclassified	1.20%

3442/5644 names classified · sector 33.3% of weight · industry 32.8% · mkt cap 32.7%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 50 quarters

Information TechnologyAAPL, MSFT, QCOM, SYNA, CSCO · other

FinancialsUNH, MA, WFC, JPM, ACTG · other

IndustrialsCHRW, ETN, DAL, SWK, DOV · other

Consumer DiscretionarySYY, WMT, COR, TGT, TSCO · other

Health CareMRK, ABBV, PFE, AMGN, ABT · other

EnergyXOM, OXY, SLB, CVX, HAL · other

Communication ServicesVZ, GOOGL, META, GRPN, SIRI · other

MaterialsECL, PG, GLW, IP, NTR · other

Consumer StaplesPEP, KO, GIS, ADM, TSN · other

UtilitiesDUK, D, WEC, EXC, WMB · other

Real EstatePSA, AMT, VTR, WELL, STWD · other

UnclassifiedIVV, IUSB, SPY, ESGU, AGG · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 33.3% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 31% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (2104 classified)CWM, LLC centroid (Large Core)

Information TechnologyConsumer DiscretionaryFinancialsIndustrialsHealth CareCommunication ServicesMaterialsEnergyUtilitiesConsumer StaplesReal Estate

Style box summary for CWM, LLC: centroid Large Core. Heaviest cells: Large Growth 9.6%, Large Core 6.7%, Large Value 4.8%.

Classified: 30.7% of book weight (2104/5603 names) · unclassified 69.3%: IVV, SPYM, IUSB, SPDW, IVE, IVW, CORO, DYNF, SPY, SPMO +3489 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 5,645 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	IVVISHARES TR	1,394,503	$911M	2.4%	TRIM −3%
2	SPYMSPDR SERIES TRUST	11,255,034	$861M	2.3%	ADD 9%
3	IUSBISHARES TR	17,616,671	$814M	2.1%	ADD 2%
4	SPDWSPDR INDEX SHS FDS	17,682,357	$807M	2.1%	ADD 14%
5	AAPLAPPLE INC	2,730,847	$693M	1.8%	HOLD
6	NVDANVIDIA CORPORATION	3,473,955	$606M	1.6%	ADD 3%
7	IVEISHARES TR	2,566,919	$542M	1.4%	HOLD
8	IVWISHARES TR	4,777,915	$540M	1.4%	HOLD
9	COROBLACKROCK ETF TRUST	16,208,136	$521M	1.4%	NEW
10	DYNFBLACKROCK ETF TRUST	7,830,130	$456M	1.2%	TRIM −2%
11	SPYSTATE STR SPDR S&P 500 ETF T	682,869	$444M	1.2%	ADD 36%
12	MSFTMICROSOFT CORP	1,186,360	$439M	1.2%	ADD 11%
13	SPMOInvesco ETF Trust II - S&P500 Momentum ETF	3,591,581	$403M	1.1%	ADD 20%
14	SPTISPDR SERIES TRUST	12,847,946	$368M	1.0%	ADD 104%
15	QUALISHARES TR	1,889,343	$362M	1.0%	TRIM −16%
16	SPABSPDR SERIES TRUST	14,001,534	$359M	0.9%	TRIM −23%
17	BONDPIMCO ETF TR	3,741,411	$345M	0.9%	TRIM −10%
18	AMZNAMAZON COM INC	1,619,786	$337M	0.9%	ADD 5%
19	LGLVSPDR SERIES TRUST	1,783,969	$318M	0.8%	HOLD
20	VUGVANGUARD INDEX FDS	653,482	$285M	0.8%	HOLD
21	QQQINVESCO QQQ TR	490,751	$283M	0.7%	TRIM −5%
22	GOOGLALPHABET INC	962,835	$277M	0.7%	TRIM −7%
23	MTUMISHARES TR	1,149,067	$276M	0.7%	HOLD
24	SPYGSPDR SERIES TRUST STATE STREET SPD	2,780,818	$272M	0.7%	TRIM −2%
25	SPTMSPDR SERIES TRUST	3,349,506	$265M	0.7%	ADD 3%
26	BILSPDR SERIES TRUST	2,630,828	$241M	0.6%	ADD 6%
27	SPYVSPDR SERIES TRUST	4,161,823	$235M	0.6%	HOLD
28	IEMGISHARES INC	3,247,216	$226M	0.6%	TRIM −43%
29	EFVISHARES TR	3,030,442	$225M	0.6%	TRIM −45%
30	TOTLSSGA ACTIVE ETF TR	5,455,083	$217M	0.6%	ADD 15%
31	SCHGSCHWAB U.S. LARGE-CAP GROWTH ETF	7,205,154	$210M	0.6%	TRIM −3%
32	AVGOBROADCOM INC	667,208	$207M	0.5%	ADD 3%
33	BILSSPDR SERIES TRUST	2,019,477	$201M	0.5%	HOLD
34	BRK.BBERKSHIRE HATHAWAY INC DEL	394,551	$189M	0.5%	ADD 3%
35	BAIBLACKROCK ETF TRUST	5,610,905	$185M	0.5%	ADD 10%
36	MBBISHARES TR	1,927,060	$183M	0.5%	HOLD
37	FBNDFIDELITY TOTAL BOND ETF	3,864,523	$176M	0.5%	ADD 18%
38	WMTWALMART INC	1,417,724	$176M	0.5%	ADD 15%
39	XOMEXXON MOBIL CORP	1,030,824	$175M	0.5%	TRIM −2%
40	BUFRFIRST TR EXCHNG TRADED FD VI	5,140,529	$174M	0.5%	ADD 4%
41	GOVTISHARES TR	7,549,432	$173M	0.5%	ADD 605%
42	JNJJOHNSON & JOHNSON	692,270	$169M	0.4%	ADD 5%
43	VTVVANGUARD INDEX FDS	854,071	$168M	0.4%	HOLD
44	JPMJPMORGAN CHASE & CO	550,203	$162M	0.4%	ADD 3%
45	MINTPIMCO ETF TR	1,603,698	$161M	0.4%	TRIM −4%
46	ULSTSSGA ACTIVE ETF TR	3,949,890	$160M	0.4%	ADD 4%
47	TLHISHARES TR	1,558,713	$157M	0.4%	TRIM −2%
48	PVALPutnam Focased Large Cap Value ETF	3,343,154	$155M	0.4%	ADD 3%
49	TSLATESLA INC	413,279	$154M	0.4%	ADD 6%
50	JIREJ P MORGAN EXCHANGE TRADED F	1,912,801	$145M	0.4%	ADD 12%
51	GLDSPDR GOLD TR	329,282	$142M	0.4%	TRIM −13%
52	SPEMSPDR INDEX SHS FDS	2,985,833	$140M	0.4%	ADD 22%
53	METAMETA PLATFORMS INC	244,595	$140M	0.4%	TRIM −3%
54	IDEFBLACKROCK ETF TRUST	4,250,401	$139M	0.4%	NEW
55	BLCRBLACKROCK ETF TRUST	3,382,266	$139M	0.4%	NEW
56	XLKSELECT SECTOR SPDR TR	1,044,720	$139M	0.4%	TRIM −26%
57	SPMDSPDR SERIES TRUST	2,263,455	$134M	0.4%	TRIM −37%
58	GOOGALPHABET INC	464,319	$133M	0.4%	ADD 4%
59	LLYELI LILLY & CO	144,076	$133M	0.3%	ADD 5%
60	PYLDPIMCO MULTISECTOR BOND ACTIVE EXCHANGE-TRADED FUND	5,004,693	$131M	0.3%	ADD 19%
61	VOOVANGUARD INDEX FDS	214,486	$128M	0.3%	TRIM −3%
62	SCHDSCHWAB STRATEGIC TR	4,054,445	$124M	0.3%	TRIM −26%
63	MRKMERCK & CO INC	1,010,525	$122M	0.3%	HOLD
64	FBCGFIDELITY COVINGTON TRUST	2,412,385	$121M	0.3%	ADD 126%
65	AVDEAMERICAN CENTY ETF TR	1,415,086	$120M	0.3%	ADD 23%
66	SPIPSPDR SERIES TRUST	4,582,105	$119M	0.3%	ADD 12%
67	JGROJPMorgan Active Growth ETF	1,405,248	$119M	0.3%	TRIM −3%
68	THROBLACKROCK ETF TRUST	3,266,015	$118M	0.3%	HOLD
69	HEGDLISTED FDS TR SWAN HEDGED EQUITY US LARGE CAP ETF	4,586,482	$113M	0.3%	ADD 18%
70	IAGGISHARES TR	2,255,829	$113M	0.3%	ADD 4%
71	SCHZSCHWAB STRATEGIC TR	4,789,548	$111M	0.3%	ADD 19%
72	CORPPIMCO ETF TR	1,138,477	$110M	0.3%	ADD 3%
73	RSSBTIDAL TRUST II	3,995,437	$109M	0.3%	ADD 6%
74	PGPROCTER AND GAMBLE CO	750,348	$108M	0.3%	ADD 9%
75	ABBVABBVIE INC	464,400	$101M	0.3%	HOLD
76	CSCOCISCO SYS INC	1,285,420	$100M	0.3%	TRIM −3%
77	CGDVCAPITAL GROUP DIVIDEND VALUE	2,340,152	$100M	0.3%	ADD 17%
78	RAAXVANECK ETF TRUST	2,434,200	$99M	0.3%	ADD 1027%
79	DHSWISDOMTREE TR	861,983	$94M	0.2%	HOLD
80	BINCBLACKROCK ETF TRUST II	1,799,492	$93M	0.2%	TRIM −9%
81	CATCATERPILLAR INC	130,235	$92M	0.2%	ADD 11%
82	CTAPSIMPLIFY EXCHANGE TRADED FUN	3,369,085	$90M	0.2%	NEW
83	VCSHVANGUARD SCOTTSDALE FDS	1,121,300	$89M	0.2%	ADD 11%
84	HDHOME DEPOT INC	261,911	$86M	0.2%	ADD 8%
85	GLDMWORLD GOLD TR	922,738	$86M	0.2%	HOLD
86	LDURPIMCO ETF TR	891,772	$85M	0.2%	TRIM −5%
87	GEGE AEROSPACE	297,986	$85M	0.2%	ADD 17%
88	QQQMINVESCO EXCH TRADED FD TR II	354,132	$84M	0.2%	ADD 5%
89	GTOINVESCO ACTIVELY MANAGED EXC	1,786,634	$84M	0.2%	TRIM −13%
90	CVXCHEVRON CORP NEW	398,906	$83M	0.2%	ADD 11%
91	DBNDDOUBLELINE ETF TRUST	1,795,342	$82M	0.2%	ADD 11%
92	XLESELECT SECTOR SPDR TR	1,342,139	$82M	0.2%	ADD 19%
93	VVISA INC	269,729	$82M	0.2%	ADD 6%
94	JPSTJ P MORGAN EXCHANGE TRADED F	1,603,139	$81M	0.2%	ADD 44%
95	CGGRCAPITAL GROUP GROWTH ETF	2,002,105	$80M	0.2%	TRIM −11%
96	COSTCOSTCO WHSL CORP NEW	80,747	$80M	0.2%	ADD 13%
97	MUBISHARES TR	751,600	$80M	0.2%	ADD 9%
98	SCHFSCHWAB STRATEGIC TR	3,218,486	$80M	0.2%	ADD 10%
99	SPTLSPDR SERIES TRUST	2,966,485	$78M	0.2%	ADD 8%
100	SGOVISHARES TR	774,491	$78M	0.2%	ADD 126%
101	TAXFAMERICAN CENTY ETF TR	1,552,913	$78M	0.2%	ADD 12%
102	JEPIJPMorgan Equity Premium Income ETF	1,369,852	$78M	0.2%	TRIM −17%
103	QHYWISDOMTREE TR	1,690,271	$77M	0.2%	ADD 3%
104	CGBLCAPITAL GROUP CORE BALANCED	2,229,671	$77M	0.2%	ADD 3%
105	BMYBRISTOL-MYERS SQUIBB CO	1,256,734	$76M	0.2%	ADD 2%
106	IBMINTERNATIONAL BUSINESS MACHS	311,283	$75M	0.2%	ADD 41%
107	USHYISHARES TR	2,019,143	$74M	0.2%	ADD 23%
108	MUMICRON TECHNOLOGY INC	219,439	$74M	0.2%	ADD 11%
109	NTSXWISDOMTREE TR	1,410,617	$74M	0.2%	ADD 2%
110	VZVERIZON COMMUNICATIONS INC	1,459,592	$73M	0.2%	HOLD
111	JVALJ P MORGAN EXCHANGE TRADED F	1,493,287	$73M	0.2%	ADD 87%
112	JBNDJ P MORGAN EXCHANGE TRADED F	1,323,773	$71M	0.2%	ADD 12%
113	XLCSELECT SECTOR SPDR TR	639,439	$71M	0.2%	ADD 19%
114	PLTRPALANTIR TECHNOLOGIES INC	483,215	$71M	0.2%	HOLD
115	VEUVANGUARD INTL EQUITY INDEX F	937,620	$70M	0.2%	ADD 7%
116	JMEEJPMorgan Market Expansion Enh Eq - ETF	1,053,780	$70M	0.2%	ADD 10%
117	ITOTISHARES TR	489,745	$70M	0.2%	TRIM −9%
118	BACBANK AMERICA CORP	1,411,541	$69M	0.2%	HOLD
119	USMVISHARES TR	733,419	$68M	0.2%	TRIM −8%
120	IAUISHARES GOLD TR	766,371	$68M	0.2%	TRIM −61%
121	IEFAISHARES TR	736,098	$67M	0.2%	TRIM −23%
122	VTIVANGUARD INDEX FDS	206,746	$66M	0.2%	HOLD
123	TAT&T INC	2,268,339	$66M	0.2%	TRIM −2%
124	PEPPEPSICO INC	417,147	$65M	0.2%	TRIM −19%
125	RDVYFIRST TR EXCHANGE TRADED FD	939,509	$64M	0.2%	TRIM −3%
126	RSSTTIDAL TRUST II	2,256,877	$64M	0.2%	ADD 3%
127	VYMIVANGUARD WHITEHALL FDS	673,221	$63M	0.2%	ADD 9%
128	DFEMDIMENSIONAL ETF TRUST	1,827,269	$63M	0.2%	ADD 9%
129	AGGISHARES TR	635,151	$63M	0.2%	TRIM −12%
130	XSWSPDR SERIES TRUST	442,316	$63M	0.2%	NEW
131	PMBSPIMCO ETF TR	1,265,828	$63M	0.2%	ADD 140%
132	TJXTJX COS INC NEW	391,333	$62M	0.2%	ADD 5%
133	SPEUSPDR INDEX SHS FDS	1,208,741	$62M	0.2%	TRIM −50%
134	FELCFIDELITY COVINGTON TRUST	1,693,968	$61M	0.2%	ADD 21%
135	GSSTGOLDMAN SACHS ETF TR	1,212,579	$61M	0.2%	TRIM −2%
136	MOATVANECK ETF TRUST	624,885	$60M	0.2%	TRIM −3%
137	FMUBFIDELITY MERRIMACK STR TR	1,193,840	$60M	0.2%	ADD 17%
138	DIVIFRANKLIN TEMPLETON ETF TR	1,510,630	$60M	0.2%	ADD 21%
139	TCHPT ROWE PRICE ETF INC	1,354,277	$60M	0.2%	ADD 2627%
140	LMTLOCKHEED MARTIN CORP	98,262	$59M	0.2%	ADD 5%
141	PFEPFIZER INC	2,111,686	$59M	0.2%	ADD 30%
142	AVEMAMERICAN CENTY ETF TR	733,280	$59M	0.2%	ADD 22%
143	NFLXNETFLIX INC	606,270	$58M	0.2%	ADD 29%
144	IUSVISHARES TR	568,929	$58M	0.2%	TRIM −7%
145	DFIVDIMENSIONAL ETF TRUST	1,079,191	$57M	0.1%	ADD 12%
146	AGGYWISDOMTREE TR	1,286,071	$56M	0.1%	ADD 4%
147	AMGNAMGEN INC	157,671	$55M	0.1%	TRIM −4%
148	KOCOCA COLA CO	728,893	$55M	0.1%	HOLD
149	SPMBSPDR SER TR	2,413,888	$54M	0.1%	ADD 3%
150	VOEVANGUARD INDEX FDS	290,862	$54M	0.1%	ADD 7%
151	MUNIPIMCO Intermediate Muni Bd Actv - ETF	993,470	$52M	0.1%	ADD 8%
152	REGNREGENERON PHARMACEUTICALS	66,400	$51M	0.1%	ADD 10%
153	JEPQJ P MORGAN EXCHANGE TRADED F	917,534	$51M	0.1%	ADD 11%
154	UNHUNITEDHEALTH GROUP INC	184,507	$50M	0.1%	ADD 16%
155	OEFISHARES TR	155,867	$50M	0.1%	TRIM −87%
156	IWFISHARES TR	115,731	$49M	0.1%	TRIM −11%
157	FIXCOMFORT SYS USA INC	35,299	$49M	0.1%	ADD 16%
158	AMDADVANCED MICRO DEVICES INC	235,276	$48M	0.1%	HOLD
159	LVHILEGG MASON ETF INVT	1,178,190	$48M	0.1%	ADD 21%
160	LRCXLAM RESEARCH CORP	221,596	$47M	0.1%	ADD 69%
161	BNDXVANGUARD CHARLOTTE FDS	979,386	$47M	0.1%	ADD 18%
162	XTLSPDR SERIES TRUST	250,143	$47M	0.1%	ADD 13%
163	IGIBISHARES TR	874,951	$47M	0.1%	TRIM −7%
164	DGRWWISDOMTREE TR	527,285	$46M	0.1%	TRIM −2%
165	GILDGILEAD SCIENCES INC	332,096	$46M	0.1%	TRIM −6%
166	IJHISHARES TR	660,944	$45M	0.1%	TRIM −4%
167	FTGSFIRST TR EXCHANGE-TRADED FD	1,309,359	$45M	0.1%	HOLD
168	QYLDGLOBAL X FDS	2,560,465	$44M	0.1%	HOLD
169	JSCPJ P MORGAN EXCHANGE TRADED F	927,435	$44M	0.1%	ADD 3%
170	MAMASTERCARD INCORPORATED	85,759	$43M	0.1%	ADD 3%
171	DFAEDIMENSIONAL ETF TRUST	1,265,472	$43M	0.1%	HOLD
172	SCHBSCHWAB STRATEGIC TR	1,693,122	$42M	0.1%	ADD 3%
173	FDXFEDEX CORP	119,230	$42M	0.1%	ADD 10%
174	BABOEING CO	212,048	$42M	0.1%	ADD 13%
175	GEVGE VERNOVA INC	47,707	$42M	0.1%	ADD 31%
176	PCGPG&E CORP	2,351,877	$41M	0.1%	ADD 28%
177	VLUEISHARES TR	289,852	$41M	0.1%	ADD 25%
178	IUSINVESCO EXCH TRD SLF IDX FD	701,425	$41M	0.1%	ADD 5%
179	DFLVDIMENSIONAL ETF TRUST	1,136,931	$41M	0.1%	ADD 17%
180	EIXEDISON INTL	553,439	$41M	0.1%	ADD 23%
181	SMMUPIMCO ETF TR	796,197	$40M	0.1%	ADD 12%
182	VBRVANGUARD INDEX FDS	184,349	$40M	0.1%	ADD 6%
183	NTSIWISDOMTREE TR	906,989	$40M	0.1%	HOLD
184	JMSTJ P MORGAN EXCHANGE TRADED F	781,688	$40M	0.1%	ADD 121%
185	FNDFSCHWAB STRATEGIC TR	813,465	$40M	0.1%	ADD 4%
186	GDGENERAL DYNAMICS CORP	115,155	$40M	0.1%	ADD 4%
187	XPHSPDR SERIES TRUST	726,555	$39M	0.1%	ADD 363178%
188	TRVTRAVELERS COMPANIES INC	134,046	$39M	0.1%	HOLD
189	UNPUNION PAC CORP	161,092	$39M	0.1%	ADD 3%
190	RTXRTX CORPORATION	200,028	$39M	0.1%	TRIM −4%
191	VCITVANGUARD SCOTTSDALE FDS	461,945	$38M	0.1%	ADD 4%
192	DFISDIMENSIONAL ETF TRUST	1,133,632	$38M	0.1%	ADD 8%
193	BNYBANK NEW YORK MELLON CORP	320,619	$38M	0.1%	TRIM −4%
194	CMDTPIMCO ETF TR	1,178,239	$38M	0.1%	ADD 30%
195	WFCWELLS FARGO CO NEW	474,640	$38M	0.1%	ADD 9%
196	HYSPIMCO ETF TR	402,979	$38M	0.1%	ADD 62%
197	AVUVAMERICAN CENTY ETF TR	340,064	$38M	0.1%	HOLD
198	ESGUISHARES TR	263,832	$37M	0.1%	TRIM −5%
199	FLQMFranklin Templeton Mid Cap MultiFact Index	667,636	$37M	0.1%	TRIM −13%
200	PNCPNC FINL SVCS GROUP INC	174,338	$36M	0.1%	ADD 54%

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

IVVISHARES TR

1.9M

1.8M

1.2M

1.4M

$911M

SPYMSPDR SERIES TRUST

7.9M

8.5M

9.9M

10.0M

10.4M

11.3M

$861M

IUSBISHARES TR

18.9M

18.1M

17.4M

17.1M

17.2M

17.6M

$814M

SPDWSPDR INDEX SHS FDS

12.5M

13.0M

14.2M

14.6M

15.5M

17.7M

$807M

AAPLAPPLE INC

2.2M

2.3M

2.5M

2.7M

$693M

NVDANVIDIA CORPORATION

2.6M

2.9M

3.0M

3.3M

3.4M

3.5M

$606M

IVEISHARES TR

1.4M

1.8M

1.9M

2.6M

$542M

IVWISHARES TR

5.4M

5.2M

4.8M

$540M

COROBLACKROCK ETF TRUST

—

16.2M

$521M

DYNFBLACKROCK ETF TRUST

8.4M

8.0M

7.9M

8.0M

7.8M

$456M

SPYSTATE STR SPDR S&P 500 ETF T

325K

329K

302K

354K

502K

683K

$444M

MSFTMICROSOFT CORP

865K

909K

940K

1.0M

1.1M

1.2M

$439M

SPMOInvesco ETF Trust II - S&P500 Momentum ETF

435K

1.3M

2.5M

2.6M

3.0M

3.6M

$403M

SPTISPDR SERIES TRUST

3.2M

3.1M

4.6M

5.3M

6.3M

12.8M

$368M

QUALISHARES TR

3.8M

3.3M

3.4M

3.2M

2.2M

1.9M

$362M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆CWM, LLC

Implied return what this book implies · modeled, not advice methodology →

Exposures · what this manager owns, by sector & size (2026-Q1)

By sector

By market cap

By region

By industry group GICS — finer than sector

Top holdings

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Contribution holdings-based, any period

Holdings· 5,645 positions (2026-Q1) · largest first · Δ vs 2025-Q4

Position trends· top 15 holdings · shares held over 6 quarters

CWM, LLC