COWA, LLC

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CIK 1844480

13F portfolio (2026-Q1)

$344M

Positions

155

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

155

Top 5

31.7%

Top 10

47.8%

Effective N

32.5

HHI

0.031

This quarter

11 new · 0 exit →

By sector

Unclassified71.8%

Information Technology6.9%

Industrials6.7%

Energy3.5%

Utilities3.0%

Health Care2.1%

Financials1.7%

Consumer Staples1.4%

Other2.9%

By market cap

Unknown72.8%

Large ($10–200B)14.7%

Mega (>$200B)11.2%

Mid ($2–10B)1.3%

Small ($300M–2B)0.1%

By region

Other71.8%

North America27.4%

Europe0.7%

Asia-Pacific0.1%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	71.91%	71
Construction & Engineering	5.26%	2
Technology Hardware & Equipment	5.01%	5
Oil, Gas & Consumable Fuels	3.20%	9
Utilities	3.04%	7
Pharmaceuticals & Biotechnology	2.05%	11
Specialty Retail	1.27%	5
Banks	1.10%	6
Semiconductors & Semiconductor Equipment	0.90%	3
Beverages	0.73%	4
Road & Rail	0.68%	2
Software	0.63%	2
Food Products	0.58%	3
Insurance	0.52%	4
Commercial Services & Supplies	0.47%	3
Diversified Telecommunication Services	0.47%	2
Paper & Forest Products	0.46%	2
Electrical Equipment & Components	0.35%	3
Software & IT Services	0.28%	2
Coal & Consumable Fuels	0.27%	1
Aerospace & Defense	0.22%	1
Chemicals	0.20%	2
Tobacco	0.11%	1
Media & Entertainment	0.11%	1
Airlines	0.09%	1
Equity Real Estate Investment Trusts (REITs)	0.04%	1
Automobiles & Components	0.04%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	IBHF	ISHARES TR	Unclassified	7.41%
2	AVUV	AMERICAN CENTY ETF TR	Unclassified	7.28%
3	DFIV	DIMENSIONAL ETF TRUST	Unclassified	6.81%
4	IBDX	ISHARES TR	Unclassified	5.36%
5	FIX	COMFORT SYSTEMS USA INC	Industrials	4.82%
6	AAPL	Apple Inc.	Information Technology	3.99%
7	FNDE	SCHWAB STRATEGIC TR	Unclassified	3.59%
8	IDV	ISHARES TR	Unclassified	3.44%
9	CTA	SIMPLIFY EXCHANGE TRADED FUN	Unclassified	2.65%
10	IBDW	ISHARES TR	Unclassified	2.49%

85/155 names classified · sector 28.2% of weight · industry 28.1% · mkt cap 27.2%; unclassified names shown, never dropped.

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

top 5/sector, rest → “Other” · 22 quarters

Information TechnologyAAPL, MSFT, IBM, DHR, NVDA · other

EnergyCOP, PSX, SHEL, CVX, BP · other

UtilitiesOKE, EPD, OGE, VST, WMB · other

FinancialsBAC, PRU, BOKF, JPM, ORI · other

IndustrialsFIX, DAL, BABA, PWR, UPS · other

Health CareABBV, BMY, AMGN, ABT, AZN · other

Consumer StaplesPEP, KO, KHC, MO, CAG · other

Consumer DiscretionaryWMT, HD, MCD, GM, TGT · other

MaterialsIP, OEC, PG, TECK, KMB · other

Communication ServicesT, VZ, GOOGL, GOOG, FUBO · other

Real EstateO, WY, MPT, VTR, SPG · other

UnclassifiedAVUV, SPYD, IBHF, SGOV, ULST · 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: 28.2% 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 26% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (72 classified)COWA, LLC centroid (Large Core)

Information TechnologyIndustrialsEnergyUtilitiesHealth CareFinancialsConsumer DiscretionaryConsumer StaplesCommunication ServicesMaterialsReal Estate

Style box summary for COWA, LLC: centroid Large Core. Heaviest cells: Large Value 6.1%, Large Core 5.9%, Mid Growth 5.2%.

Classified: 25.6% of book weight (72/155 names) · unclassified 74.4%: IBHF, AVUV, DFIV, IBDX, FNDE, IDV, CTA, IBDW, SPYD, HDV +73 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· 155 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	IBHFISHARES TR	1,109,389	$25M	7.4%	ADD 14%
2	AVUVAMERICAN CENTY ETF TR	226,570	$25M	7.3%	HOLD
3	DFIVDIMENSIONAL ETF TRUST	443,679	$23M	6.8%	ADD 22%
4	IBDXISHARES TR	729,002	$18M	5.4%	ADD 28%
5	FIXCOMFORT SYS USA INC	12,014	$17M	4.8%	TRIM −12%
6	AAPLAPPLE INC	43,193	$14M	4.0%	ADD 14%
7	FNDESCHWAB STRATEGIC TR	322,910	$12M	3.6%	ADD 4%
8	IDVISHARES TR	277,728	$12M	3.4%	HOLD
9	CTASIMPLIFY EXCHANGE TRADED FUN	301,281	$9M	2.6%	ADD 10%
10	IBDWISHARES TR	408,644	$9M	2.5%	ADD 31%
11	SPYDSPDR SERIES TRUST	187,874	$9M	2.5%	HOLD
12	HDVISHARES TR	57,386	$8M	2.3%	ADD 2%
13	AVDVAMERICAN CENTY ETF TR	74,124	$7M	2.2%	ADD 2%
14	FNDXSCHWAB STRATEGIC TR	238,448	$7M	1.9%	ADD 4%
15	DIASPDR DOW JONES INDL AVERAGE	12,471	$6M	1.7%	HOLD
16	DFAIDIMENSIONAL ETF TRUST	144,588	$6M	1.6%	HOLD
17	OKEONEOK INC NEW	59,233	$5M	1.6%	ADD 11%
18	SGOVISHARES TR	46,293	$5M	1.4%	TRIM −8%
19	VYMIVANGUARD WHITEHALL FDS	45,300	$4M	1.2%	TRIM −3%
20	AMLPALPS ETF TR	75,147	$4M	1.2%	HOLD
21	RSPINVESCO EXCHANGE TRADED FD T	20,351	$4M	1.1%	ADD 8%
22	DFAUDIMENSIONAL ETF TRUST	86,124	$4M	1.1%	TRIM −50%
23	SCHDSCHWAB STRATEGIC TR	120,687	$4M	1.1%	HOLD
24	EPDENTERPRISE PRODS PARTNERS L	76,330	$3M	0.8%	TRIM −13%
25	IEFAISHARES TR	31,714	$3M	0.8%	TRIM −25%
26	GLDSPDR GOLD TR	6,406	$3M	0.8%	TRIM −22%
27	COPCONOCOPHILLIPS	20,316	$3M	0.8%	HOLD
28	IAUISHARES GOLD TR	30,264	$3M	0.8%	TRIM −28%
29	NVDANVIDIA CORPORATION	15,065	$3M	0.8%	ADD 392%
30	VEUVANGUARD INTL EQUITY INDEX F	33,260	$2M	0.7%	HOLD
31	UPSUNITED PARCEL SERVICE INC	21,732	$2M	0.6%	ADD 4%
32	IBDTISHARES TR	80,124	$2M	0.6%	HOLD
33	MSFTMICROSOFT CORP	5,131	$2M	0.6%	HOLD
34	SPYSTATE STR SPDR S&P 500 ETF T	2,748	$2M	0.5%	HOLD
35	USMVISHARES TR	19,075	$2M	0.5%	TRIM −2%
36	WMTWALMART INC	14,169	$2M	0.5%	TRIM −18%
37	IBDYISHARES TR	66,790	$2M	0.5%	ADD 99%
38	IBDUISHARES TR	66,319	$2M	0.4%	ADD 5%
39	PWRQUANTA SVCS INC	2,731	$1M	0.4%	HOLD
40	USDUWISDOMTREE TR	54,578	$1M	0.4%	ADD 11%
41	PSXPHILLIPS 66	7,866	$1M	0.4%	ADD 51%
42	XOMEXXON MOBIL CORP	7,966	$1M	0.4%	TRIM −3%
43	BMYBRISTOL-MYERS SQUIBB CO	21,148	$1M	0.4%	ADD 10%
44	ABBVABBVIE INC	5,830	$1M	0.4%	TRIM −5%
45	KRESPDR SERIES TRUST	19,393	$1M	0.4%	ADD 5%
46	DFLVDIMENSIONAL ETF TRUST	33,588	$1M	0.3%	HOLD
47	KMBKIMBERLY-CLARK CORP	12,164	$1M	0.3%	ADD 33%
48	QUALISHARES TR	6,105	$1M	0.3%	TRIM −3%
49	IBDVISHARES TR	53,062	$1M	0.3%	ADD 25%
50	IBMINTERNATIONAL BUSINESS MACHS	4,716	$1M	0.3%	HOLD
51	IVVISHARES TR	1,814	$1M	0.3%	TRIM −63%
52	CVXCHEVRON CORP NEW	5,468	$1M	0.3%	HOLD
53	IJHISHARES TR	16,611	$1M	0.3%	TRIM −6%
54	SYLDCAMBRIA ETF TR	14,712	$1M	0.3%	HOLD
55	AMGNAMGEN INC	3,111	$1M	0.3%	HOLD
56	SMLVSPDR SERIES TRUST	7,925	$1M	0.3%	HOLD
57	SHELSHELL PLC	11,646	$1M	0.3%	TRIM −4%
58	PEPPEPSICO INC	6,877	$1M	0.3%	HOLD
59	KHCKRAFT HEINZ CO	44,440	$999,477	0.3%	ADD 9%
60	DESWISDOMTREE TR	27,220	$978,297	0.3%	TRIM −3%
61	TAT&T INC	33,443	$969,529	0.3%	TRIM −26%
62	XSHDINVESCO EXCH TRADED FD TR II	73,648	$966,438	0.3%	ADD 38%
63	BACBANK AMERICA CORP	19,798	$965,153	0.3%	HOLD
64	XLVSELECT SECTOR SPDR TR	6,561	$961,924	0.3%	ADD 21%
65	APAAPA CORPORATION	22,032	$935,052	0.3%	HOLD
66	CSCOCISCO SYS INC	12,050	$934,970	0.3%	HOLD
67	DVNDEVON ENERGY CORP NEW	18,572	$934,574	0.3%	TRIM −5%
68	ARLPALLIANCE RESOURCE PARTNERS L	33,558	$927,879	0.3%	HOLD
69	HPEHEWLETT PACKARD ENTERPRISE C	37,368	$889,754	0.3%	HOLD
70	HDHOME DEPOT INC	2,689	$884,385	0.3%	HOLD
71	IBHGISHARES TR	39,195	$867,386	0.3%	ADD 122%
72	TGTTARGET CORP	7,138	$865,191	0.3%	ADD 20%
73	MRKMERCK & CO INC	7,085	$852,341	0.2%	ADD 48%
74	PRUPRUDENTIAL FINL INC	8,486	$829,004	0.2%	HOLD
75	PAGPPLAINS GP HLDGS L P	33,977	$824,972	0.2%	TRIM −27%
76	IMTMISHARES TR	16,827	$808,033	0.2%	ADD 30%
77	KOCOCA COLA CO	10,412	$791,904	0.2%	HOLD
78	BOKFBOK FINL CORP	6,123	$784,111	0.2%	HOLD
79	CAGCONAGRA BRANDS INC	49,500	$778,150	0.2%	ADD 58%
80	XLESELECT SECTOR SPDR TR	12,520	$766,987	0.2%	HOLD
81	RTXRTX CORPORATION	3,969	$765,620	0.2%	ADD 3%
82	PFFISHARES TR	25,209	$764,337	0.2%	NEW
83	AESAES Corp.	54,062	$761,737	0.2%	ADD 15%
84	GOOGLALPHABET INC	2,599	$747,511	0.2%	ADD 66%
85	EFAVISHARES TR	7,572	$691,927	0.2%	ADD 36%
86	VZVERIZON COMMUNICATIONS INC	13,008	$653,056	0.2%	TRIM −28%
87	QQQINVESCO QQQ TR	1,101	$635,475	0.2%	TRIM −2%
88	IJRISHARES TR	5,105	$634,602	0.2%	TRIM −33%
89	PORPORTLAND GEN ELEC CO	11,924	$629,280	0.2%	ADD 24%
90	DYNFBLACKROCK ETF TRUST	10,508	$611,355	0.2%	TRIM −2%
91	BPBP PLC	13,000	$611,000	0.2%	TRIM −2%
92	SMMVISHARES TR	13,949	$608,415	0.2%	TRIM −2%
93	JPMJPMORGAN CHASE & CO	2,059	$605,675	0.2%	TRIM −9%
94	AMZNAMAZON COM INC	2,879	$599,610	0.2%	ADD 66%
95	SCHYSCHWAB STRATEGIC TR	18,823	$595,968	0.2%	ADD 3%
96	PFEPFIZER INC	21,100	$592,488	0.2%	ADD 68%
97	MTUMISHARES TR	2,449	$587,748	0.2%	NEW
98	WFCWELLS FARGO CO NEW	7,102	$565,390	0.2%	HOLD
99	DHRDANAHER CORP DEL	2,935	$556,476	0.2%	HOLD
100	CCITIGROUP INC	4,675	$530,191	0.2%	HOLD
101	OGEOGE ENERGY CORP	10,782	$517,105	0.2%	HOLD
102	GEGE AEROSPACE	1,816	$515,326	0.1%	HOLD
103	LNCLINCOLN NATL CORP IND	14,426	$512,157	0.1%	ADD 4%
104	BABAALIBABA GROUP HLDG LTD	3,891	$488,164	0.1%	TRIM −9%
105	PGPROCTER AND GAMBLE CO	3,316	$479,027	0.1%	ADD 11%
106	ABTABBOTT LABS	4,642	$476,594	0.1%	HOLD
107	PCGPG&E CORP	25,307	$444,660	0.1%	ADD 2%
108	VOOGVANGUARD ADMIRAL FDS INC	1,074	$437,922	0.1%	HOLD
109	IQLTISHARES TR	9,307	$430,263	0.1%	TRIM −2%
110	IPINTERNATIONAL PAPER CO	11,869	$423,733	0.1%	HOLD
111	LLYELI LILLY & CO	471	$415,821	0.1%	TRIM −24%
112	VTIVANGUARD INDEX FDS	1,282	$411,524	0.1%	HOLD
113	VDEVANGUARD WORLD FD	2,300	$397,992	0.1%	TRIM −15%
114	XLFSELECT SECTOR SPDR TR	8,000	$394,960	0.1%	HOLD
115	BRK.BBERKSHIRE HATHAWAY INC DEL	806	$386,235	0.1%	TRIM −7%
116	MOALTRIA GROUP INC	5,797	$382,544	0.1%	HOLD
117	DEODIAGEO PLC	5,075	$377,833	0.1%	ADD 109%
118	FISVFISERV INC	6,700	$373,860	0.1%	ADD 32%
119	CMCSACOMCAST CORP NEW	12,855	$369,067	0.1%	NEW
120	GEVGE VERNOVA INC	421	$367,491	0.1%	HOLD
121	JNJJOHNSON & JOHNSON	1,500	$366,898	0.1%	TRIM −30%
122	WMBWILLIAMS COS INC	5,015	$364,998	0.1%	ADD 7%
123	DEHPDIMENSIONAL ETF TRUST	10,743	$363,006	0.1%	TRIM −3%
124	FYLDCAMBRIA ETF TR	9,596	$358,267	0.1%	TRIM −2%
125	IBTJISHARES TR	15,725	$343,481	0.1%	HOLD
126	AXPAMERICAN EXPRESS CO	1,085	$328,191	0.1%	HOLD
127	EMREMERSON ELEC CO	2,475	$324,275	0.1%	HOLD
128	VFMFVANGUARD WELLINGTON FD	2,050	$317,904	0.1%	TRIM −2%
129	DALDELTA AIR LINES INC	4,425	$294,174	0.1%	HOLD
130	STZCONSTELLATION BRANDS INC	1,862	$279,422	0.1%	ADD 6%
131	ECHISHARES INC MSCI CHILE ETF	6,948	$276,252	0.1%	TRIM −2%
132	COSTCOSTCO WHSL CORP NEW	272	$271,734	0.1%	TRIM −5%
133	ELMSERIES PORTFOLIOS TR	9,924	$269,139	0.1%	NEW
134	APHAMPHENOL CORP	2,042	$258,007	0.1%	HOLD
135	EDIVSPDR INDEX SHS FDS	6,415	$253,265	0.1%	HOLD
136	PATHUIPATH INC	22,660	$251,526	0.1%	ADD 23%
137	VVVANGUARD INDEX FDS	829	$247,747	0.1%	HOLD
138	VKTXVIKING THERAPEUTICS INC	7,530	$245,026	0.1%	HOLD
139	AZNASTRAZENECA PLC	1,234	$243,369	0.1%	NEW
140	VOOVANGUARD INDEX FDS	394	$235,435	0.1%	HOLD
141	VGTVANGUARD WORLD FD	337	$235,132	0.1%	HOLD
142	NGLNGL ENERGY PARTNERS LP	18,857	$232,515	0.1%	HOLD
143	GISGENERAL MILLS INC	5,946	$221,339	0.1%	ADD 21%
144	GSKGSK PLC	4,009	$221,257	0.1%	NEW
145	SPYVSPDR SERIES TRUST	3,900	$220,662	0.1%	TRIM −51%
146	ORIOld Republic Nat'l. Corp.	5,516	$220,100	0.1%	HOLD
147	GOOGALPHABET INC	765	$219,448	0.1%	TRIM −47%
148	MSDLMORGAN STANLEY DIRECT LENDIN	15,636	$218,279	0.1%	ADD 16%
149	DVYISHARES TR	1,395	$211,217	0.1%	NEW
150	AMATAPPLIED MATLS INC	615	$210,201	0.1%	NEW
151	GLGLOBE LIFE INC	1,500	$208,755	0.1%	NEW
152	OLNOLIN CORP	6,892	$204,920	0.1%	NEW
153	NSCNORFOLK SOUTHN CORP	700	$200,900	0.1%	HOLD
154	COLDAMERICOLD REALTY TRUST INC	13,000	$148,980	0.0%	NEW
155	FFORD MTR CO	11,800	$136,172	0.0%	HOLD

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

IBHFISHARES TR

341K

544K

686K

783K

972K

1.1M

$25M

AVUVAMERICAN CENTY ETF TR

182K

193K

203K

221K

229K

227K

$25M

DFIVDIMENSIONAL ETF TRUST

371K

327K

416K

448K

364K

444K

$23M

IBDXISHARES TR

—

168K

313K

420K

571K

729K

$18M

FIXCOMFORT SYS USA INC

10K

12K

14K

12K

$17M

AAPLAPPLE INC

36K

37K

38K

43K

$14M

FNDESCHWAB STRATEGIC TR

174K

195K

277K

307K

311K

323K

$12M

IDVISHARES TR

275K

287K

255K

271K

274K

278K

$12M

CTASIMPLIFY EXCHANGE TRADED FUN

108K

162K

205K

232K

275K

301K

$9M

IBDWISHARES TR

13K

88K

135K

182K

312K

409K

$9M

SPYDSPDR SERIES TRUST

191K

196K

193K

190K

188K

$9M

HDVISHARES TR

54K

56K

57K

$8M

AVDVAMERICAN CENTY ETF TR

57K

60K

65K

72K

74K

$7M

FNDXSCHWAB STRATEGIC TR

186K

195K

219K

130K

230K

238K

$7M

DIASPDR DOW JONES INDL AVERAGE

11K

13K

12K

$6M

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.

☆COWA, LLC