Cowa, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 3, 2025), Cowa, LLC reported 119 stock positions worth $205.0 million. Its top holding was Avantis US Small Cap Value (AVUV) at 8.6% of the portfolio, followed by Dimensional International Va (DFIV, 6.4%) and Apple (AAPL, 4.4%). Compared with Q3 2024, it opened 10 new positions, sold out of 19, added to 48 and reduced 35. The biggest buy was a new position in Simplify Managed Futures St (CTA) and the biggest sale an exit from iShares Ibonds Dec 2025 Term (IBDQ).

Most Recent 13F
Q2 2026
Location
Tulsa, OK
CIK
0001844480
Portfolio Value
$205.0M (Q4 2024)
SEC Filing
0001172661-25-000471 ↗ filed Feb 3, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $169.7M Q1 2024 Q2 2024: $187.4M Q2 2024 Q3 2024: $210.0M Q3 2024 Q4 2024: $205.0M $205.0M Q4 2024 Q1 2025: $234.1M Q1 2025 Q2 2025: $262.6M Q2 2025 Q3 2025: $282.5M Q3 2025 Q4 2025: $328.6M Q4 2025 Q1 2026: $343.7M Q1 2026 Q2 2026: $369.4M Q2 2026

Holdings 119 stocks · $205.0M

AVUV Avantis US Small Cap Value 8.58% 182,053 $17.6M Add +8.2%
DFIV Dimensional International Va 6.42% 371,233 $13.2M Reduce -4.9%
AAPL Apple Inc. 4.43% 36,281 $9.1M Reduce -2.6%
SPYD SS SPDR P S&P 500 Hi Div ETF 4.02% 190,607 $8.2M Add +1.6%
IBHF iShares Ibond 2026 HY & Inc. 3.85% 341,398 $7.9M Add +28.0%
IDV iShares International Select 3.67% 275,009 $7.5M Reduce -4.7%
HDV iShares Core High Dividend E 2.94% 53,698 $6.0M Add +1.9%
OKE Oneok Inc. 2.70% 55,206 $5.5M Reduce -6.6%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 2.69% 11,461 $5.5M Reduce -11.8%
FNDE Schwab Fndmntl Em MRK Eq ETF 2.47% 174,032 $5.1M Add +32.2%
AMLP Alerian MLP ETF 2.26% 95,998 $4.6M Reduce -34.2%
FNDX Schwab Fndmntl US LRG Co. ETF 2.13% 185,912 $4.4M Reduce -9.0%
DFAI Dimensional International Co. 2.10% 147,708 $4.3M Reduce -5.5%
DFAU Dimensional US Core Equity M 1.83% 92,895 $3.8M Reduce -14.4%
AVDV Avantis Intl S/C Value ETF 1.78% 57,135 $3.6M Add +82.0%
SGOV iShares 0-3 Month Treasury B 1.71% 34,961 $3.5M Reduce -9.4%
IBHE iShares Ibonds 2025 H/Y Inc. 1.65% 145,831 $3.4M Add +10.1%
SCHD Schwab US DVD Equity ETF 1.62% 121,473 $3.3M Add +1.4%
RSP Invesco S&P 500 Equal Weight 1.56% 41,215 $3.2M Add +208.0%
CTA Simplify Managed Futures St 1.46% 107,657 $3.0M New
IVV iShares Core S&P 500 ETF 1.46% 5,090 $3.0M Add +4.8%
IBDU iShares Ibonds Dec 2029 Term 1.40% 126,291 $2.9M Add +58.6%
GLD SPDR Gold Shares 1.34% 11,388 $2.8M Reduce -42.8%
EPD Enterprise Products Partners 1.34% 87,795 $2.8M Add +2.4%
IEFA iShares Core MSCI Eafe ETF 1.32% 38,395 $2.7M Add +0.6%
IAU iShares Gold Trust 1.29% 53,308 $2.6M Reduce -8.7%
IJR iShares Core S&P Small-Cap E 1.15% 20,407 $2.4M Add +0.4%
FIX Comfort Systems USA Inc. 1.10% 5,328 $2.3M Reduce -16.4%
VYMI Vanguard Int High DVD YLD Inc. 1.08% 32,616 $2.2M Add +44.8%
COP Conocophillips 1.02% 22,317 $2.1M Add +11.6%
VEU Vanguard Ftse All-World Ex-U 0.97% 34,631 $2.0M Add +0.1%
IJH iShares Core S&P Midcap ETF 0.94% 30,946 $1.9M Reduce -0.7%
MSFT Microsoft Corp. 0.86% 4,204 $1.8M Add +27.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.83% 2,909 $1.7M Reduce -6.1%
KRE SS SPDR S&P Regional Bank 0.75% 25,456 $1.5M Reduce -1.2%
IBDT iShares Ibonds Dec 2028 ETF 0.67% 55,259 $1.4M Add +305.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.64% 30,030 $1.3M Reduce -36.0%
IBTJ iShares Ibonds Dec 2029 Term 0.57% 55,060 $1.2M Add +8.9%
T AT&T Inc. 0.56% 50,720 $1.2M Add +2.2%
SHEL Shell PLC-ADR 0.56% 18,328 $1.1M Reduce -7.0%
WMT Walmart Inc. 0.54% 12,168 $1.1M Reduce -12.5%
HPE Hewlett Packard Enterprise 0.50% 47,609 $1.0M Add +332.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.49% 4,601 $1.0M Reduce -7.6%
ABBV Abbvie Inc. 0.47% 5,457 $970K No change
BMY Bristol-Myers Squibb Co. 0.47% 16,970 $960K Add +42.0%
PRU Prudential Financial Inc. 0.46% 7,886 $935K No change
SMLV SS SPDR US SC Low Vol Idx 0.45% 7,279 $929K Reduce -2.9%
PSX Phillips 66 0.45% 8,099 $923K Add +0.0%
GOOGL Alphabet Inc. Class A 0.45% 4,859 $920K Reduce -4.0%
ARLP Alliance Resource Partners 0.43% 33,558 $882K No change
XOM Exxon Mobil Corp. 0.43% 8,158 $878K Add +8.6%
HD Home Depot Inc. 0.42% 2,230 $867K No change
PWR Quanta Services Inc. 0.42% 2,731 $863K No change
AMGN Amgen Inc. 0.41% 3,219 $839K Reduce -0.6%
PAGP Plains GP Holdings LP 0.40% 44,469 $817K Add +0.2%
SCHY Schwab International DVD ETF 0.39% 34,292 $793K Add +1.0%
LLY Eli Lilly & Co. 0.35% 928 $716K Add +32.0%
INNOVATOR IBD 50 ETF 0.35% 24,763 $708K No change
KO The Coca-Cola Co. 0.34% 11,130 $693K Add +1.0%
IP International Paper Co. 0.33% 12,469 $671K Reduce -4.8%
SPHD Invesco S&P 500 High Dividen 0.32% 13,478 $651K Add +4.8%
BOKF Bok Financial Corporation 0.31% 6,022 $641K No change
VZ Verizon Communications Inc. 0.31% 15,979 $639K Add +35.8%
BRK.B Berkshire Hathaway Inc. Class B 0.30% 1,365 $619K No change
DIVO Amplify CWP Enhan Divid ETF 0.30% 14,982 $606K Add +19.8%
LNC Lincoln National Corp. 0.29% 19,059 $604K Add +0.6%
DHR Danaher Corp. 0.29% 2,592 $595K Reduce -5.5%
JPM JPMorgan Chase & Co. 0.29% 2,461 $590K Reduce -2.7%
XLRE SS Real Estate Select Sector 0.28% 14,286 $581K No change
XLE SS Energy Select Sector 0.28% 6,694 $573K Reduce -28.8%
SPYV SS SPDR P S&P 500 Value ETF 0.28% 11,200 $573K No change
VST Vistra Corp. 0.28% 4,138 $571K Reduce -8.3%
EWJ iShares MSCI Japan ETF 0.28% 8,481 $569K Reduce -9.4%
CSCO Cisco Systems Inc. 0.27% 9,461 $560K Reduce -3.6%
CVX Chevron Corp. 0.27% 3,859 $559K Add +1.2%
DES Wisdomtree US Smallcap Divid 0.27% 15,877 $545K Add +17.4%
BABA Alibaba Group Holding-SP ADR 0.25% 6,090 $516K Add +98.4%
DFAE Dimensional Emerging Core Eq 0.24% 19,431 $493K Add +6.2%
KBE SS SPDR S&P Bank ETF 0.23% 8,685 $482K Reduce -32.8%
WFC Wells Fargo & Co. 0.23% 6,800 $478K No change
ABT Abbott Laboratories 0.23% 4,114 $465K No change
C Citigroup Inc. 0.22% 6,010 $457K Reduce -9.1%
XLV SS Health Care Select Sector 0.22% 3,302 $454K New
CPB The Campbell's Company 0.22% 10,635 $445K Add +87.4%
OGE Oge Energy Corp. 0.22% 10,782 $445K No change
DVN Devon Energy Corp. 0.21% 13,360 $437K Add +1.9%
WMB Williams Cos Inc. 0.21% 6,920 $437K Add +38.0%
BP BP PLC-Spons ADR 0.21% 14,700 $435K Reduce -7.6%
PG The Procter & Gamble Co. 0.21% 2,951 $427K Add +11.5%
CFG Citizens Financial Group 0.21% 8,588 $422K New
PATH Uipath Inc. Class A 0.20% 32,330 $411K Add +21.2%
SYLD Cambria Shareholder Yield Et 0.19% 5,795 $397K Add +26.1%
XLF SS Financial Select Sector 0.19% 8,000 $387K No change
VDE Vanguard Energy ETF 0.17% 2,825 $343K Reduce -10.5%
KHC The Kraft Heinz Co. 0.16% 10,670 $328K Reduce -14.6%
VTI VG Morningstar TS MKT ETF-US 0.16% 1,117 $324K Add +1.6%
RCL Royal Caribbean Cruises Ltd. 0.16% 1,400 $323K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.15% 4,481 $317K Add +0.7%
CLX Clorox Company 0.15% 1,900 $309K No change
EMR Emerson Electric Co. 0.15% 2,475 $307K No change
LUV Southwest Airlines Co. 0.15% 9,049 $304K New
ORI Old Republic Intl Corp. 0.15% 8,378 $303K No change
MO Altria Group Inc. 0.15% 5,797 $303K No change
GE General Electric filed as GE AEROSPACE 0.14% 1,771 $295K No change
AXP American Express Co. 0.14% 975 $289K No change
PEP Pepsico Inc. 0.14% 3,050 $289K No change
AMZN Amazon.com Inc. 0.14% 1,413 $288K New
VOOG Vanguard S&P 500 Growth ETF 0.14% 782 $286K Add +9.1%
IBDW iShares Ibonds Dec 2031 Corp. 0.13% 13,163 $268K New
DAL Delta Air Lines Inc. 0.12% 4,000 $242K No change
ITW Illinois Tool Works 0.11% 908 $230K No change
DE Deere & Co. 0.11% 535 $227K No change
PFE Pfizer Inc. 0.11% 8,528 $226K Add +21.3%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.11% 829 $224K No change
ATRC Atricure Inc. 0.11% 7,097 $217K New
AR Antero Resources Corp. 0.10% 6,000 $210K New
AAON Aaon Inc. 0.10% 1,769 $208K New
CNH CNH Industrial NV 0.09% 17,000 $193K Add +70.0%
HELP Cybin Inc. 0.06% 13,000 $115K New
Other holdings (3): bonds, preferreds, convertibles and warrants · $11.9M (not counted above)
SecurityClassShares / PrincipalValueChange
IBDR iShares Ibonds Dec 2026 Term IBONDS DEC2026 · principal 344,218$8.3MNew
IBDQ iShares Ibonds Dec 2025 Term IBONDS DEC25 ETF · principal 144,866$3.6MNew
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) DEB 4.000%11/1 · principal 17,000$5KNew

Total filed on the 13F, all lines: $217.0M.

Portfolio Sells Q3 2024 → Q4 2024

IBDQ iShares Ibonds Dec 2025 Term Sold out 0.00% −1.28
AMLP Alerian MLP ETF Reduce -34.2% 2.26% −1.02
GLD SPDR Gold Shares Reduce -42.8% 1.34% −0.96
USRT iShares Core US REIT ETF Sold out 0.00% −0.70
DFIV Dimensional International Va Reduce -4.9% 6.42% −0.66
IBDR iShares Ibonds Dec 2026 Term Sold out 0.00% −0.56
IDV iShares International Select Reduce -4.7% 3.67% −0.48
AGG iShares Core U.S. Aggregate Sold out 0.00% −0.38
DFAI Dimensional International Co. Reduce -5.5% 2.10% −0.26
RTX RTX Corp. Sold out 0.00% −0.26
BAC Bank of America Corp. Reduce -36.0% 0.64% −0.24
DFAU Dimensional US Core Equity M Reduce -14.4% 1.83% −0.21
FNDX Schwab Fndmntl US LRG Co. ETF Reduce -9.0% 2.13% −0.20
AES AES Corp. Sold out 0.00% −0.19
FISV Fiserv Inc. Sold out 0.00% −0.18
XOP SS SPDR S&P Og Exp & Prod Sold out 0.00% −0.15
LNT Alliant Energy Corp. Sold out 0.00% −0.15
LYB Lyondellbasell Indu Class A Sold out 0.00% −0.15
SGOV iShares 0-3 Month Treasury B Reduce -9.4% 1.71% −0.14
APA Apa Corp. Sold out 0.00% −0.12
KEY Keycorp Sold out 0.00% −0.12
RPM RPM International Inc. Sold out 0.00% −0.12
XLE SS Energy Select Sector Reduce -28.8% 0.28% −0.11
ADI Analog Devices Inc. Sold out 0.00% −0.11
EDIV State Street SPDR S&P Emergi Sold out 0.00% −0.11
VNQ Vanguard Real Estate ETF Sold out 0.00% −0.10
CINF Cincinnati Financial Corp. Sold out 0.00% −0.10
NEM Newmont Corp. Sold out 0.00% −0.10
IAU iShares Gold Trust Reduce -8.7% 1.29% −0.09
KBE SS SPDR S&P Bank ETF Reduce -32.8% 0.23% −0.09
AMGN Amgen Inc. Reduce -0.6% 0.41% −0.09
FIX Comfort Systems USA Inc. Reduce -16.4% 1.10% −0.08
DHR Danaher Corp. Reduce -5.5% 0.29% −0.07
SHEL Shell PLC-ADR Reduce -7.0% 0.56% −0.06
KHC The Kraft Heinz Co. Reduce -14.6% 0.16% −0.05
EWJ iShares MSCI Japan ETF Reduce -9.4% 0.28% −0.04
IBM Intl Business Machines Corp. Reduce -7.6% 0.49% −0.03
BP BP PLC-Spons ADR Reduce -7.6% 0.21% −0.03
VDE Vanguard Energy ETF Reduce -10.5% 0.17% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -6.1% 0.83% −0.01
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) Sold out 0.00% −0.00
WMT Walmart Inc. Reduce -12.5% 0.54% +0.00
SMLV SS SPDR US SC Low Vol Idx Reduce -2.9% 0.45% +0.01
IJH iShares Core S&P Midcap ETF Reduce -0.7% 0.94% +0.02
IP International Paper Co. Reduce -4.8% 0.33% +0.02
VST Vistra Corp. Reduce -8.3% 0.28% +0.02
CSCO Cisco Systems Inc. Reduce -3.6% 0.27% +0.02
C Citigroup Inc. Reduce -9.1% 0.22% +0.03
JPM JPMorgan Chase & Co. Reduce -2.7% 0.29% +0.03
GOOGL Alphabet Inc. Class A Reduce -4.0% 0.45% +0.05

Portfolio Buys Q3 2024 → Q4 2024

CTA Simplify Managed Futures St New 1.46% +1.46
IBHF iShares Ibond 2026 HY & Inc. Add +28.0% 3.85% +0.88
AVUV Avantis US Small Cap Value Add +8.2% 8.58% +0.88
AVDV Avantis Intl S/C Value ETF Add +82.0% 1.78% +0.72
IBDU iShares Ibonds Dec 2029 Term Add +58.6% 1.40% +0.51
IBDT iShares Ibonds Dec 2028 ETF Add +305.3% 0.67% +0.51
FNDE Schwab Fndmntl Em MRK Eq ETF Add +32.2% 2.47% +0.44
RSP Invesco S&P 500 Equal Weight Add +208.0% 1.56% +0.42
HPE Hewlett Packard Enterprise Add +332.8% 0.50% +0.39
VYMI Vanguard Int High DVD YLD Inc. Add +44.8% 1.08% +0.29
XLV SS Health Care Select Sector New 0.22% +0.22
CFG Citizens Financial Group New 0.21% +0.21
MSFT Microsoft Corp. Add +27.2% 0.86% +0.19
IBHE iShares Ibonds 2025 H/Y Inc. Add +10.1% 1.65% +0.18
BMY Bristol-Myers Squibb Co. Add +42.0% 0.47% +0.17
EPD Enterprise Products Partners Add +2.4% 1.34% +0.15
LUV Southwest Airlines Co. New 0.15% +0.15
AMZN Amazon.com Inc. New 0.14% +0.14
IBDW iShares Ibonds Dec 2031 Corp. New 0.13% +0.13
IVV iShares Core S&P 500 ETF Add +4.8% 1.46% +0.13
ATRC Atricure Inc. New 0.11% +0.11
WMB Williams Cos Inc. Add +38.0% 0.21% +0.10
AR Antero Resources Corp. New 0.10% +0.10
AAON Aaon Inc. New 0.10% +0.10
BABA Alibaba Group Holding-SP ADR Add +98.4% 0.25% +0.10
CPB The Campbell's Company Add +87.4% 0.22% +0.09
VZ Verizon Communications Inc. Add +35.8% 0.31% +0.06
HELP Cybin Inc. New 0.06% +0.06
LLY Eli Lilly & Co. Add +32.0% 0.35% +0.05
DIVO Amplify CWP Enhan Divid ETF Add +19.8% 0.30% +0.05
DES Wisdomtree US Smallcap Divid Add +17.4% 0.27% +0.04
T AT&T Inc. Add +2.2% 0.56% +0.04
CNH CNH Industrial NV Add +70.0% 0.09% +0.04
IBTJ iShares Ibonds Dec 2029 Term Add +8.9% 0.57% +0.04
PATH Uipath Inc. Class A Add +21.2% 0.20% +0.04
SYLD Cambria Shareholder Yield Et Add +26.1% 0.19% +0.04
VOOG Vanguard S&P 500 Growth ETF Add +9.1% 0.14% +0.02
COP Conocophillips Add +11.6% 1.02% +0.02
IJR iShares Core S&P Small-Cap E Add +0.4% 1.15% +0.01
PFE Pfizer Inc. Add +21.3% 0.11% +0.01
SCHD Schwab US DVD Equity ETF Add +1.4% 1.62% +0.01
LNC Lincoln National Corp. Add +0.6% 0.29% +0.01
VTI VG Morningstar TS MKT ETF-US Add +1.6% 0.16% +0.01
XOM Exxon Mobil Corp. Add +8.6% 0.43% +0.01
SPHD Invesco S&P 500 High Dividen Add +4.8% 0.32% +0.01
PAGP Plains GP Holdings LP Add +0.2% 0.40% +0.01
CVX Chevron Corp. Add +1.2% 0.27% +0.01
DFAE Dimensional Emerging Core Eq Add +6.2% 0.24% +0.00
EFAV iShares MSCI Eafe Min Vol Fa Add +0.7% 0.15% −0.01
HDV iShares Core High Dividend E Add +1.9% 2.94% −0.01

Notes & Other Activity Q3 2024 → Q4 2024

IBDR iShares Ibonds Dec 2026 Term IBONDS DEC2026 · principal New 344,218 $8.3M
IBDQ iShares Ibonds Dec 2025 Term IBONDS DEC25 ETF · principal New 144,866 $3.6M
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) DEB 4.000%11/1 · principal New 17,000 $5K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 178$369.4MIBHF, AVUV, FIX, DFIV, IBDX
Q1 2026 155$343.7MIBHF, AVUV, DFIV, IBDX, FIX
Q4 2025 152$328.6MAVUV, IBHF, IBDR, DFIV, IBDX
Q3 2025 137$282.5MAVUV, DFIV, IBHF, FIX, FNDE
Q2 2025 131$262.6MAVUV, DFIV, IBHF, IBDR, FNDE
Q1 2025 125$234.1MDFIV, AVUV, IBHF, AAPL, IBDR
Q4 2024 119$205.0MAVUV, DFIV, AAPL, SPYD, IBHF
Q3 2024 128$210.0MAVUV, DFIV, IDV, AAPL, SPYD
Q2 2024 126$187.4MAVUV, DFIV, SPYD, IDV, AAPL
Q1 2024 119$169.7MAVUV, DFIV, DFAI, AMLP, IDV