Capital Management Associates, Inc

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 23, 2025), Capital Management Associates, Inc reported 115 stock positions worth $315.7 million. Its top holding was Schwab US Broad Market ETF (SCHB) at 13.4% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 8.2%) and SS SPDR S&P 500 ETF Trust-US (SPY, 7.8%). Compared with Q1 2025, it opened 18 new positions, sold out of 32, added to 13 and reduced 83. The biggest buy was a new position in General Mills (GIS) and the biggest sale Schwab US Broad Market ETF (SCHB, shares −50%).

Most Recent 13F
Q2 2026
Location
MINNEAPOLIS, MN
CIK
0002008851
Portfolio Value
$315.7M (Q2 2025)
SEC Filing
0001085146-25-004085 ↗ filed Jul 23, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $135.7M Q1 2024 Q2 2024: $165.2M Q2 2024 Q3 2024: $244.8M Q3 2024 Q4 2024: $266.8M Q4 2024 Q1 2025: $441.6M Q1 2025 Q2 2025: $315.7M $315.7M Q2 2025 Q3 2025: $370.0M Q3 2025 Q4 2025: $452.3M Q4 2025 Q1 2026: $442.3M Q1 2026 Q2 2026: $497.5M Q2 2026

Holdings 115 stocks · $315.7M
SCHB Schwab US Broad Market ETF 13.40% 1,775,141 $42.3M Reduce -49.7%
VOO Vanguard S&P 500 ETF 8.23% 45,729 $26.0M Reduce -39.3%
SPY SS SPDR S&P 500 ETF Trust-US 7.81% 39,926 $24.7M Reduce -50.6%
GIS General Mills Inc. 7.40% 451,154 $23.4M New
QQQ Invesco QQQ Trust Series 1 6.47% 37,016 $20.4M Reduce -49.3%
AAPL Apple Inc. 4.47% 68,796 $14.1M Add +13.6%
HYS PIMCO 0-5 Year H/Y Corp. Bond 3.98% 132,121 $12.6M Reduce -48.8%
SIVR Abrdn Physical Silver Shares 3.78% 347,063 $11.9M Reduce -1.4%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 3.45% 24,707 $10.9M Reduce -49.5%
SGOL Abrdn Physical Gold Shares 3.38% 338,375 $10.7M Reduce -1.6%
VB Vanguard Most SM-Cap ETF-Usd 2.18% 29,107 $6.9M Reduce -49.3%
VBK Van Morst SML-Cap Gro-Usd Inc. 2.02% 23,027 $6.4M Reduce -0.6%
CGBL Cap Group Core Balanced filed as CAPITAL GROUP CORE BALANCED 1.97% 186,189 $6.2M Reduce -40.5%
MSFT Microsoft Corp. 1.84% 11,657 $5.8M Add +38.0%
MINT PIMCO Enhanced Short Maturit 1.31% 41,184 $4.1M Reduce -50.6%
RUNN Running Oak Efficient GR ETF 1.16% 108,136 $3.7M Reduce -48.4%
MUB iShares National Muni Bond E 1.16% 34,917 $3.6M Reduce -50.0%
AGG iShares Core U.S. Aggregate 1.08% 34,308 $3.4M Reduce -42.7%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.03% 11,659 $3.3M Reduce -31.7%
VUG Vanguard Mrngstar GR ETF-Sui 1.03% 7,437 $3.3M Add +100.0%
VNQ Vanguard Real Estate ETF 0.74% 26,109 $2.3M Reduce -40.1%
PSA Public Storage 0.71% 7,679 $2.3M Add +29.8%
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.69% 59,030 $2.2M Reduce -50.1%
META Meta Platforms Inc. Class A 0.67% 2,865 $2.1M Reduce -6.6%
AMZN Amazon.com Inc. 0.60% 8,650 $1.9M Reduce -29.2%
SCHX Schwab US Large-Cap ETF 0.59% 75,937 $1.9M Reduce -49.9%
BRK.B Berkshire Hathaway Inc. Class B 0.57% 3,719 $1.8M Reduce -42.4%
UNH Unitedhealth Group Inc. 0.53% 5,390 $1.7M New
BSX Boston Scientific Corp. 0.53% 15,654 $1.7M Reduce -50.0%
NNN NNN REIT Inc. 0.53% 38,734 $1.7M Reduce -5.5%
IJH iShares Core S&P Midcap ETF 0.51% 25,886 $1.6M Reduce -46.0%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.50% 5,581 $1.6M Reduce -50.0%
CAT Caterpillar Inc. 0.48% 3,890 $1.5M Add +5.9%
JNJ Johnson & Johnson 0.47% 9,678 $1.5M Add +15.7%
RSPR Invesco S&P 500 Equal Weight 0.45% 40,200 $1.4M Reduce -32.9%
VGT Vanguard Info Tech ETF 0.44% 2,078 $1.4M New
VHT Vanguard Health Care ETF 0.42% 5,370 $1.3M Add +109.8%
SCHZ Schwab US Aggregate Bond ETF 0.42% 56,481 $1.3M Reduce -49.5%
DE Deere & Co. 0.41% 2,527 $1.3M Reduce -33.5%
JPM JPMorgan Chase & Co. 0.38% 4,120 $1.2M Add +4.4%
VTV Vanguard Mrngstr Val ETF-Aui 0.36% 6,434 $1.1M Reduce -50.1%
MCD McDonald's Corp. 0.36% 3,881 $1.1M Reduce -28.9%
VTI VG Morningstar TS MKT ETF-US 0.36% 3,699 $1.1M Reduce -48.7%
VCR Vanguard Consumer Discre ETF 0.36% 3,099 $1.1M New
CGGR Cap Group Growth Equity 0.35% 27,430 $1.1M Reduce -50.0%
NVDA Nvidia Corp. 0.31% 6,283 $993K Reduce -51.3%
GGG Graco Inc. 0.31% 11,401 $980K Reduce -50.0%
GLDM SPDR Gold Minishares Trust 0.31% 14,924 $978K Reduce -49.3%
IJR iShares Core S&P Small-Cap E 0.31% 8,891 $972K Reduce -47.1%
VIS Vanguard Industrials ETF 0.30% 3,421 $958K New
SPMD SS SPDR P S&P 400 Midcap ETF 0.29% 16,943 $921K Reduce -49.8%
MMM 3M Co. 0.29% 5,924 $902K Reduce -10.1%
IVV iShares Core S&P 500 ETF 0.27% 1,383 $859K Add +13.7%
VIG Vanguard Dividend Apprec ETF 0.27% 4,125 $844K Reduce -50.4%
GOOG Alphabet Inc. Class C 0.26% 4,601 $816K Reduce -52.9%
DRI Darden Restaurants Inc. 0.25% 3,645 $795K New
DAL Delta Air Lines Inc. 0.24% 15,497 $762K Reduce -22.0%
SPYG SS SPDR P S&P 500 Growth ETF 0.23% 7,769 $741K Reduce -49.9%
PLTR Palantir Technologies Inc. Class A 0.23% 5,253 $716K Reduce -49.6%
SCHD Schwab US DVD Equity ETF 0.22% 25,695 $681K Reduce -50.5%
GLD SPDR Gold Shares 0.20% 2,045 $623K Reduce -8.5%
ILCB iShares Morningstar U.S. Equ 0.20% 7,219 $619K Reduce -49.9%
XLP SS Consumer Staples Sel Sect 0.19% 7,466 $604K Reduce -39.5%
MA Mastercard Inc. Class A 0.18% 990 $556K Reduce -51.4%
GOOGL Alphabet Inc. Class A 0.18% 3,156 $556K Add +1.2%
VFH Vanguard Financials ETF 0.18% 4,342 $553K New
SCHA Schwab US Small-Cap ETF 0.17% 21,108 $534K Reduce -49.8%
VEA Vanguard Ftse Developed ETF 0.16% 9,010 $514K Reduce -54.7%
TGT Target Corp. 0.16% 5,196 $513K Add +137.9%
DFAS Dimensional US Small Cap ETF 0.16% 7,954 $507K Reduce -50.0%
GE General Electric filed as GE AEROSPACE 0.16% 1,953 $503K Reduce -50.0%
WFC Wells Fargo & Co. 0.16% 6,168 $494K Add +66.5%
MRK Merck & Co. Inc. 0.16% 6,200 $491K New
WM Waste Management Inc. 0.16% 2,144 $491K Reduce -50.1%
FSK FS KKR Capital Corp. 0.15% 22,913 $475K No change
PG The Procter & Gamble Co. 0.15% 2,952 $470K Add +80.1%
XEL Xcel Energy Inc. 0.15% 6,840 $466K Reduce -49.7%
USB US Bancorp 0.14% 10,022 $453K Reduce -51.3%
KLAC KLA Corp. 0.14% 500 $448K New
COST Costco Wholesale Corp. 0.14% 452 $447K Reduce -48.0%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.14% 4,604 $444K New
V Visa Inc. Class A 0.14% 1,242 $441K Reduce -48.6%
MDLZ Mondelez International Inc. Class A 0.13% 6,058 $409K New
TTC Toro Co. 0.13% 5,681 $402K Reduce -50.0%
IWF iShares Russell 1000 Growth 0.13% 944 $401K Reduce -50.0%
FTEC Fidelity MSCI Info Tech Indx 0.12% 2,000 $394K Reduce -50.0%
VWO Vanguard Ftse Emerging Marke 0.12% 7,655 $379K Reduce -46.5%
NVO Novo-Nordisk A/S-Spons ADR 0.12% 5,410 $373K New
SCHW Schwab (charles) Corp. 0.12% 4,045 $369K Reduce -50.4%
XLK SS Technology Select Sector 0.11% 1,369 $347K Reduce -50.0%
AG First Majestic Silver Corp. 0.11% 40,255 $333K New
LLY Eli Lilly & Co. 0.10% 416 $324K Reduce -49.9%
AMAT Applied Materials Inc. 0.10% 1,744 $319K Reduce -49.9%
WMT Walmart Inc. 0.10% 3,218 $315K Reduce -47.6%
EFA iShares MSCI Eafe ETF 0.10% 3,464 $310K Reduce -55.2%
GEV GE Vernova Inc. 0.10% 575 $304K Reduce -50.0%
FAST Fastenal Co. 0.10% 7,233 $304K Reduce -50.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.09% 3,285 $268K Reduce -49.0%
T AT&T Inc. 0.08% 9,218 $267K Reduce -47.7%
KO The Coca-Cola Co. 0.08% 3,765 $266K New

Show all 115 holdings

Options reported separately and not counted above: CL calls ($19K).

Portfolio Sells Q1 2025 → Q2 2025
SCHB Schwab US Broad Market ETF Reduce -49.7% 13.40% −3.80
SPY SS SPDR S&P 500 ETF Trust-US Reduce -50.6% 7.81% −2.43
HYS PIMCO 0-5 Year H/Y Corp. Bond Reduce -48.8% 3.98% −1.50
QQQ Invesco QQQ Trust Series 1 Reduce -49.3% 6.47% −1.28
DIA SS SPDR Dow Jones Indus Avg Reduce -49.5% 3.45% −1.21
VB Vanguard Most SM-Cap ETF-Usd Reduce -49.3% 2.18% −0.70
MINT PIMCO Enhanced Short Maturit Reduce -50.6% 1.31% −0.59
VOO Vanguard S&P 500 ETF Reduce -39.3% 8.23% −0.54
MUB iShares National Muni Bond E Reduce -50.0% 1.16% −0.51
RUNN Running Oak Efficient GR ETF Reduce -48.4% 1.16% −0.38
AGG iShares Core U.S. Aggregate Reduce -42.7% 1.08% −0.26
CGBL Cap Group Core Balanced Reduce -40.5% 1.97% −0.22
BRK.B Berkshire Hathaway Inc. Class B Reduce -42.4% 0.57% −0.21
CGUS Cap Group Core Equity Reduce -50.1% 0.69% −0.20
BSX Boston Scientific Corp. Reduce -50.0% 0.53% −0.18
SCHZ Schwab US Aggregate Bond ETF Reduce -49.5% 0.42% −0.17
SCHX Schwab US Large-Cap ETF Reduce -49.9% 0.59% −0.17
VNQ Vanguard Real Estate ETF Reduce -40.1% 0.74% −0.16
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -50.0% 0.50% −0.15
VTV Vanguard Mrngstr Val ETF-Aui Reduce -50.1% 0.36% −0.14
IJH iShares Core S&P Midcap ETF Reduce -46.0% 0.51% −0.12
GGG Graco Inc. Reduce -50.0% 0.31% −0.12
SCHD Schwab US DVD Equity ETF Reduce -50.5% 0.22% −0.11
GLDM SPDR Gold Minishares Trust Reduce -49.3% 0.31% −0.10
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -49.8% 0.29% −0.10
VIG Vanguard Dividend Apprec ETF Reduce -50.4% 0.27% −0.10
VTI VG Morningstar TS MKT ETF-US Reduce -48.7% 0.36% −0.09
IJR iShares Core S&P Small-Cap E Reduce -47.1% 0.31% −0.09
AJG Arthur J Gallagher & Co. Sold out 0.00% −0.09
PEP Pepsico Inc. Sold out 0.00% −0.09
XLV SS Health Care Select Sector Sold out 0.00% −0.09
XLE SS Energy Select Sector Sold out 0.00% −0.09
GOOG Alphabet Inc. Class C Reduce -52.9% 0.26% −0.09
TRP TC Energy Corp. Sold out 0.00% −0.09
NEE Nextera Energy Inc. Sold out 0.00% −0.08
MTB M & T Bank Corp. Sold out 0.00% −0.08
XOM Exxon Mobil Corp. Sold out 0.00% −0.08
MA Mastercard Inc. Class A Reduce -51.4% 0.18% −0.08
ABBV Abbvie Inc. Sold out 0.00% −0.07
CGGR Cap Group Growth Equity Reduce -50.0% 0.35% −0.07
RSG Republic Services Inc. Sold out 0.00% −0.07
XEL Xcel Energy Inc. Reduce -49.7% 0.15% −0.07
WM Waste Management Inc. Reduce -50.1% 0.16% −0.07
TSLA Tesla Inc. Sold out 0.00% −0.07
ECL Ecolab Inc. Sold out 0.00% −0.07
XLC SS Comm Select Sector SPDR Sold out 0.00% −0.07
VEA Vanguard Ftse Developed ETF Reduce -54.7% 0.16% −0.07
ED Consolidated Edison Inc. Sold out 0.00% −0.06
VOOG Vanguard S&P 500 Growth ETF Sold out 0.00% −0.06
TTC Toro Co. Reduce -50.0% 0.13% −0.06

Portfolio Buys Q1 2025 → Q2 2025
GIS General Mills Inc. New 7.40% +7.40
AAPL Apple Inc. Add +13.6% 4.47% +1.43
MSFT Microsoft Corp. Add +38.0% 1.84% +1.12
VUG Vanguard Mrngstar GR ETF-Sui Add +100.0% 1.03% +0.72
UNH Unitedhealth Group Inc. New 0.53% +0.53
VGT Vanguard Info Tech ETF New 0.44% +0.44
VCR Vanguard Consumer Discre ETF New 0.36% +0.36
PSA Public Storage Add +29.8% 0.71% +0.31
VIS Vanguard Industrials ETF New 0.30% +0.30
VHT Vanguard Health Care ETF Add +109.8% 0.42% +0.27
DRI Darden Restaurants Inc. New 0.25% +0.25
CAT Caterpillar Inc. Add +5.9% 0.48% +0.20
VFH Vanguard Financials ETF New 0.18% +0.18
JPM JPMorgan Chase & Co. Add +4.4% 0.38% +0.16
MRK Merck & Co. Inc. New 0.16% +0.16
JNJ Johnson & Johnson Add +15.7% 0.47% +0.15
KLAC KLA Corp. New 0.14% +0.14
TROW T Rowe Price Group Inc. New 0.14% +0.14
MDLZ Mondelez International Inc. Class A New 0.13% +0.13
NVO Novo-Nordisk A/S-Spons ADR New 0.12% +0.12
IVV iShares Core S&P 500 ETF Add +13.7% 0.27% +0.12
TGT Target Corp. Add +137.9% 0.16% +0.11
AG First Majestic Silver Corp. New 0.11% +0.11
WFC Wells Fargo & Co. Add +66.5% 0.16% +0.10
PG The Procter & Gamble Co. Add +80.1% 0.15% +0.09
KO The Coca-Cola Co. New 0.08% +0.08
KMB Kimberly-Clark Corp. New 0.07% +0.07
GOOGL Alphabet Inc. Class A Add +1.2% 0.18% +0.07
FWRG First Watch Restaurant Group New 0.07% +0.07
TCAF T Rowe PRC Cap Appreciation New 0.07% +0.07
BMBL Bumble Inc. Class A New 0.04% +0.04

Options Activity Q1 2025 → Q2 2025
CL Colgate-Palmolive Co. call New 20,700 $19K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 153$497.5MSPY, SCHB, VOO, QQQ, AAPL
Q1 2026 151$442.3MSPY, SCHB, VOO, QQQ, SIVR
Q4 2025 156$452.3MSPY, SCHB, VOO, QQQ, SIVR
Q3 2025 140$370.0MSCHB, SPY, VOO, GIS, QQQ
Q2 2025 115$315.7MSCHB, VOO, SPY, GIS, QQQ
Q1 2025 129$441.6MSCHB, SPY, VOO, QQQ, HYS
Q4 2024 104$266.8MSCHB, VOO, SPY, GIS, QQQ
Q3 2024 107$244.8MSCHB, VOO, SPY, QQQ, GIS
Q2 2024 77$165.2MSPY, VOO, QQQ, SIVR, HYS
Q1 2024 78$135.7MVOO, QQQ, DIA, GIS, HYS