Cowa, LLC

Name: COWA, LLC 13F holdings, Q1 2026
Creator: COWA, LLC
Published: 2026-05-14

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Cowa, LLC reported 155 stock positions worth $343.7 million. Its top holding was iShares Ibond 2026 HY & (IBHF) at 7.4% of the portfolio, followed by Avantis US Small Cap Value (AVUV, 7.3%) and Dimensional International Va (DFIV, 6.8%). Compared with Q4 2025, it opened 10 new positions, sold out of 7, added to 64 and reduced 58. The biggest buy was Dimensional International Va (DFIV, shares +22%) and the biggest sale an exit from iShares Ibonds Dec 2026 Term (IBDR).

Most Recent 13F: Q2 2026
Location: Tulsa, OK
CIK: 0001844480
Portfolio Value: $343.7M (Q1 2026)
SEC Filing: 0001172661-26-001949 ↗ filed May 14, 2026

Holdings Value

Holdings 155 stocks · $343.7M


IBHF iShares Ibond 2026 HY & Inc.	7.41%	1,109,389	$25.5M	Add +14.2%
AVUV Avantis US Small Cap Value	7.28%	226,570	$25.0M	Reduce -1.0%
DFIV Dimensional International Va	6.81%	443,679	$23.4M	Add +21.7%
IBDX iShares Ibonds Dec 2032 TC	5.36%	729,002	$18.4M	Add +27.7%
FIX Comfort Systems USA Inc.	4.82%	12,014	$16.6M	Reduce -12.4%
AAPL Apple Inc.	3.99%	43,193	$13.7M	Add +13.7%
FNDE Schwab Fndmntl Em MRK Eq ETF	3.59%	322,910	$12.4M	Add +3.7%
IDV iShares International Select	3.44%	277,728	$11.8M	Add +1.5%
CTA Simplify Managed Futures St	2.65%	301,281	$9.1M	Add +9.6%
IBDW iShares Ibonds Dec 2031 Corp.	2.49%	408,644	$8.6M	Add +31.1%
SPYD SS SPDR P S&P 500 Hi Div ETF	2.49%	187,874	$8.6M	Reduce -0.9%
HDV iShares Core High Dividend E	2.27%	57,386	$7.8M	Add +2.5%
AVDV Avantis Intl S/C Value ETF	2.15%	74,124	$7.4M	Add +2.4%
FNDX Schwab Fndmntl US LRG Co. ETF	1.93%	238,448	$6.6M	Add +3.6%
DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND	1.68%	12,471	$5.8M	Reduce -0.5%
DFAI Dimensional International Co.	1.64%	144,588	$5.6M	No change
OKE Oneok Inc.	1.56%	59,233	$5.4M	Add +11.4%
SGOV iShares 0-3 Month Treasury B	1.36%	46,293	$4.7M	Reduce -7.6%
VYMI Vanguard Int High DVD YLD Inc.	1.24%	45,300	$4.3M	Reduce -2.7%
AMLP Alerian MLP ETF	1.15%	75,147	$4.0M	Reduce -0.5%
RSP Invesco S&P 500 Equal Weight	1.14%	20,351	$3.9M	Add +7.7%
DFAU Dimensional US Core Equity M	1.13%	86,124	$3.9M	Reduce -50.5%
SCHD Schwab US DVD Equity ETF	1.08%	120,687	$3.7M	Add +0.5%
EPD Enterprise Products Partners	0.84%	76,330	$2.9M	Reduce -13.4%
IEFA iShares Core MSCI Eafe ETF	0.84%	31,714	$2.9M	Reduce -24.9%
GLD SPDR Gold Shares	0.80%	6,406	$2.8M	Reduce -22.1%
COP Conocophillips	0.78%	20,316	$2.7M	Add +0.6%
IAU iShares Gold Trust	0.78%	30,264	$2.7M	Reduce -27.9%
NVDA Nvidia Corp.	0.76%	15,065	$2.6M	Add +391.7%
VEU Vanguard Ftse All-World Ex-U	0.73%	33,260	$2.5M	Add +0.0%
UPS United Parcel Service Class B	0.62%	21,732	$2.1M	Add +3.7%
IBDT iShares Ibonds Dec 2028 ETF	0.59%	80,124	$2.0M	Add +1.2%
MSFT Microsoft Corp.	0.55%	5,131	$1.9M	Reduce -0.5%
SPY SS SPDR S&P 500 ETF Trust-US	0.52%	2,748	$1.8M	Add +0.6%
USMV iShares MSCI USA Min Vol Fac	0.51%	19,075	$1.8M	Reduce -2.1%
WMT Walmart Inc.	0.51%	14,169	$1.8M	Reduce -17.5%
IBDY iShares Ibonds Dec 2033 Corp.	0.50%	66,790	$1.7M	Add +98.7%
IBDU iShares Ibonds Dec 2029 Term	0.45%	66,319	$1.5M	Add +5.5%
PWR Quanta Services Inc.	0.44%	2,731	$1.5M	No change
USDU Wisdomtree BBG Usd Bullish	0.42%	54,578	$1.4M	Add +10.7%
PSX Phillips 66	0.42%	7,866	$1.4M	Add +51.4%
XOM Exxon Mobil Corp.	0.39%	7,966	$1.4M	Reduce -2.9%
BMY Bristol-Myers Squibb Co.	0.37%	21,148	$1.3M	Add +10.3%
ABBV Abbvie Inc.	0.37%	5,830	$1.3M	Reduce -5.4%
KRE SS SPDR S&P Regional Bank	0.37%	19,393	$1.3M	Add +5.4%
DFLV Dim US Large Cap Value ETF	0.35%	33,588	$1.2M	Reduce -0.2%
KMB Kimberly-Clark Corp.	0.34%	12,164	$1.2M	Add +32.7%
QUAL iShares MSCI USA Quality Fac	0.34%	6,105	$1.2M	Reduce -2.6%
IBDV iShares Ibonds Dec 2030 Corp.	0.34%	53,062	$1.2M	Add +25.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.33%	4,716	$1.1M	Add +0.3%
IVV iShares Core S&P 500 ETF	0.33%	1,814	$1.1M	Reduce -63.1%
CVX Chevron Corp.	0.33%	5,468	$1.1M	Reduce -2.0%
IJH iShares Core S&P Midcap ETF	0.33%	16,611	$1.1M	Reduce -5.7%
SYLD Cambria Shareholder Yield Et	0.32%	14,712	$1.1M	Reduce -1.2%
AMGN Amgen Inc.	0.32%	3,111	$1.1M	Reduce -1.2%
SMLV SS SPDR US SC Low Vol Idx	0.32%	7,925	$1.1M	Add +1.9%
SHEL Shell PLC-ADR	0.32%	11,646	$1.1M	Reduce -4.4%
PEP Pepsico Inc.	0.31%	6,877	$1.1M	Add +0.2%
KHC The Kraft Heinz Co.	0.29%	44,440	$999K	Add +8.7%
DES Wisdomtree US Smallcap Divid	0.28%	27,220	$978K	Reduce -3.1%
T AT&T Inc.	0.28%	33,443	$970K	Reduce -25.9%
XSHD Invesco S&P Smallcap High Di	0.28%	73,648	$966K	Add +38.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.28%	19,798	$965K	No change
XLV SS Health Care Select Sector	0.28%	6,561	$962K	Add +21.2%
APA Apa Corp.	0.27%	22,032	$935K	Add +2.0%
CSCO Cisco Systems Inc.	0.27%	12,050	$935K	Reduce -0.8%
DVN Devon Energy Corp.	0.27%	18,572	$935K	Reduce -5.1%
ARLP Alliance Resource Partners	0.27%	33,558	$928K	No change
HPE Hewlett Packard Enterprise	0.26%	37,368	$890K	Add +0.0%
HD Home Depot Inc.	0.26%	2,689	$884K	Reduce -0.9%
IBHG iShares Ibonds 2027 HY Inc.	0.25%	39,195	$867K	Add +122.1%
TGT Target Corp.	0.25%	7,138	$865K	Add +19.9%
MRK Merck & Co. Inc.	0.25%	7,085	$852K	Add +47.9%
PRU Prudential Financial Inc.	0.24%	8,486	$829K	Add +1.2%
PAGP Plains GP Holdings LP	0.24%	33,977	$825K	Reduce -26.6%
IMTM iShares MSCI Intl Momentum F	0.24%	16,827	$808K	Add +30.3%
KO The Coca-Cola Co.	0.23%	10,412	$792K	Reduce -1.3%
BOKF Bok Financial Corporation	0.23%	6,123	$784K	No change
CAG Conagra Brands Inc.	0.23%	49,500	$778K	Add +58.3%
XLE SS Energy Select Sector	0.22%	12,520	$767K	No change
RTX RTX Corp.	0.22%	3,969	$766K	Add +2.6%
PFF iShares Preferred & Income S	0.22%	25,209	$764K	New
AES AES Corp.	0.22%	54,062	$762K	Add +15.3%
GOOGL Alphabet Inc. Class A	0.22%	2,599	$748K	Add +65.8%
EFAV iShares MSCI Eafe Min Vol Fa	0.20%	7,572	$692K	Add +35.5%
VZ Verizon Communications Inc.	0.19%	13,008	$653K	Reduce -28.3%
QQQ Invesco QQQ Trust Series 1	0.18%	1,101	$635K	Reduce -2.2%
IJR iShares Core S&P Small-Cap E	0.18%	5,105	$635K	Reduce -32.9%
POR Portland General Electric Co.	0.18%	11,924	$629K	Add +24.4%
DYNF Ishrs US E F R A ETF-Usd Inc.	0.18%	10,508	$611K	Reduce -2.0%
BP BP PLC-Spons ADR	0.18%	13,000	$611K	Reduce -2.3%
SMMV iShares MSCI USA Small-Cap M	0.18%	13,949	$608K	Reduce -2.1%
JPM JPMorgan Chase & Co.	0.18%	2,059	$606K	Reduce -9.4%
AMZN Amazon.com Inc.	0.17%	2,879	$600K	Add +65.5%
SCHY Schwab International DVD ETF	0.17%	18,823	$596K	Add +3.0%
PFE Pfizer Inc.	0.17%	21,100	$592K	Add +68.1%
MTUM iShares MSCI USA Momentum Fa	0.17%	2,449	$588K	New
WFC Wells Fargo & Co.	0.16%	7,102	$565K	Reduce -1.0%
DHR Danaher Corp.	0.16%	2,935	$556K	No change
C Citigroup Inc.	0.15%	4,675	$530K	Reduce -0.9%
OGE Oge Energy Corp.	0.15%	10,782	$517K	No change
GE General Electric filed as GE AEROSPACE	0.15%	1,816	$515K	No change
LNC Lincoln National Corp.	0.15%	14,426	$512K	Add +4.1%
BABA Alibaba Group Holding-SP ADR	0.14%	3,891	$488K	Reduce -8.6%
PG The Procter & Gamble Co.	0.14%	3,316	$479K	Add +11.1%
ABT Abbott Laboratories	0.14%	4,642	$477K	Reduce -0.2%
PCG P G & E Corp.	0.13%	25,307	$445K	Add +2.0%
VOOG Vanguard S&P 500 Growth ETF	0.13%	1,074	$438K	Add +0.6%
IQLT iShares MSCI International Q	0.13%	9,307	$430K	Reduce -2.1%
IP International Paper Co.	0.12%	11,869	$424K	Add +1.7%
LLY Eli Lilly & Co.	0.12%	471	$416K	Reduce -24.4%
VTI VG Morningstar TS MKT ETF-US	0.12%	1,282	$412K	Add +0.1%
VDE Vanguard Energy ETF	0.12%	2,300	$398K	Reduce -14.8%
XLF SS Financial Select Sector	0.11%	8,000	$395K	No change
BRK.B Berkshire Hathaway Inc. Class B	0.11%	806	$386K	Reduce -6.7%
MO Altria Group Inc.	0.11%	5,797	$383K	No change
DEO Diageo PLC-Sponsored ADR	0.11%	5,075	$378K	Add +109.3%
FISV Fiserv Inc.	0.11%	6,700	$374K	Add +32.3%
CMCSA Comcast Corp. Class A	0.11%	12,855	$369K	New
GEV GE Vernova Inc.	0.11%	421	$367K	No change
JNJ Johnson & Johnson	0.11%	1,500	$367K	Reduce -30.4%
WMB Williams Cos Inc.	0.11%	5,015	$365K	Add +6.8%
DEHP Dimensional Emrg MRK Hi Prof	0.11%	10,743	$363K	Reduce -2.6%
FYLD Cambria Foreign Shareholder	0.10%	9,596	$358K	Reduce -2.3%
IBTJ iShares Ibonds Dec 2029 Term	0.10%	15,725	$343K	No change
AXP American Express Co.	0.10%	1,085	$328K	Reduce -1.8%
EMR Emerson Electric Co.	0.09%	2,475	$324K	Reduce -0.6%
VFMF Vanguard US Multifactor ETF	0.09%	2,050	$318K	Reduce -2.2%
DAL Delta Air Lines Inc.	0.09%	4,425	$294K	No change
STZ Constellation Brands Inc. Class A	0.08%	1,862	$279K	Add +5.7%
ECH iShares MSCI Chile ETF	0.08%	6,948	$276K	Reduce -2.4%
COST Costco Wholesale Corp.	0.08%	272	$272K	Reduce -4.6%
ELM Elm Market Navigator ETF	0.08%	9,924	$269K	New
APH Amphenol Corp. Class A	0.08%	2,042	$258K	No change
EDIV State Street SPDR S&P Emergi	0.07%	6,415	$253K	Add +0.1%
PATH Uipath Inc. Class A	0.07%	22,660	$252K	Add +22.8%
VV Vngrd Mrgstr LRG-Cap ETF-Usd	0.07%	829	$248K	No change
VKTX Viking Therapeutics Inc.	0.07%	7,530	$245K	Reduce -1.8%
AZN Astrazeneca PLC	0.07%	1,234	$243K	No change
VOO Vanguard S&P 500 ETF	0.07%	394	$235K	No change
VGT Vanguard Info Tech ETF	0.07%	337	$235K	No change
NGL NGL Energy Partners LP	0.07%	18,857	$233K	No change
GIS General Mills Inc.	0.06%	5,946	$221K	Add +20.9%
GSK GSK PLC-Spon ADR	0.06%	4,009	$221K	New
SPYV SS SPDR P S&P 500 Value ETF	0.06%	3,900	$221K	Reduce -50.6%
ORI Old Republic Intl Corp.	0.06%	5,516	$220K	No change
GOOG Alphabet Inc. Class C	0.06%	765	$219K	Reduce -46.8%
MSDL Morgan Stanley Direct Lendin	0.06%	15,636	$218K	Add +16.4%
DVY iShares Select Dividend ETF	0.06%	1,395	$211K	New
AMAT Applied Materials Inc.	0.06%	615	$210K	New
GL Globe Life Inc.	0.06%	1,500	$209K	New
OLN Olin Corp.	0.06%	6,892	$205K	New
NSC Norfolk Southern Corp.	0.06%	700	$201K	No change
COLD Americold Realty Trust Inc.	0.04%	13,000	$149K	New
F Ford Motor Co. filed as FORD MTR CO	0.04%	11,800	$136K	No change

Other holdings (3): bonds, preferreds, convertibles and warrants · $26.9M (not counted above)

Security	Class	Shares / Principal	Value	Change
IBDR iShares Ibonds Dec 2026 Term	IBONDS DEC2026 · principal	1,015,106	$24.6M	New
IBDS Ishrs Ibnds Dec 27 Corp. ETF	IBONDS 27 ETF · principal	95,309	$2.3M	New
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29)	DEB 4.000%11/1 · principal	17,000	$611	New

Total filed on the 13F, all lines: $370.6M.

Portfolio Sells Q4 2025 → Q1 2026


IBDR iShares Ibonds Dec 2026 Term	Sold out	0.00%	−5.84
DFAU Dimensional US Core Equity M	Reduce -50.5%	1.13%	−1.35
IVV iShares Core S&P 500 ETF	Reduce -63.1%	0.33%	−0.69
IEFA iShares Core MSCI Eafe ETF	Reduce -24.9%	0.84%	−0.31
IAU iShares Gold Trust	Reduce -27.9%	0.78%	−0.26
MSFT Microsoft Corp.	Reduce -0.5%	0.55%	−0.21
GLD SPDR Gold Shares	Reduce -22.1%	0.80%	−0.19
SGOV iShares 0-3 Month Treasury B	Reduce -7.6%	1.36%	−0.18
DIA SS SPDR Dow Jones Indus Avg	Reduce -0.5%	1.68%	−0.15
IBDS Ishrs Ibnds Dec 27 Corp. ETF	Sold out	0.00%	−0.11
IJR iShares Core S&P Small-Cap E	Reduce -32.9%	0.18%	−0.09
LLY Eli Lilly & Co.	Reduce -24.4%	0.12%	−0.08
ED Consolidated Edison Inc.	Sold out	0.00%	−0.07
TCOM Trip.com Group Ltd.-ADR	Sold out	0.00%	−0.07
GOOG Alphabet Inc. Class C	Reduce -46.8%	0.06%	−0.07
SPYV SS SPDR P S&P 500 Value ETF	Reduce -50.6%	0.06%	−0.07
WMT Walmart Inc.	Reduce -17.5%	0.51%	−0.07
INOD Innodata Inc.	Sold out	0.00%	−0.07
VOX Vanguard Communication Servi	Sold out	0.00%	−0.06
ABBV Abbvie Inc.	Reduce -5.4%	0.37%	−0.06
T AT&T Inc.	Reduce -25.9%	0.28%	−0.06
BABA Alibaba Group Holding-SP ADR	Reduce -8.6%	0.14%	−0.05
JPM JPMorgan Chase & Co.	Reduce -9.4%	0.18%	−0.05
USMV iShares MSCI USA Min Vol Fac	Reduce -2.1%	0.51%	−0.04
WFC Wells Fargo & Co.	Reduce -1.0%	0.16%	−0.04
ABT Abbott Laboratories	Reduce -0.2%	0.14%	−0.04
QUAL iShares MSCI USA Quality Fac	Reduce -2.6%	0.34%	−0.04
VZ Verizon Communications Inc.	Reduce -28.3%	0.19%	−0.03
VYMI Vanguard Int High DVD YLD Inc.	Reduce -2.7%	1.24%	−0.03
PAGP Plains GP Holdings LP	Reduce -26.6%	0.24%	−0.03
AXP American Express Co.	Reduce -1.8%	0.10%	−0.03
JNJ Johnson & Johnson	Reduce -30.4%	0.11%	−0.03
IJH iShares Core S&P Midcap ETF	Reduce -5.7%	0.33%	−0.03
HD Home Depot Inc.	Reduce -0.9%	0.26%	−0.03
QQQ Invesco QQQ Trust Series 1	Reduce -2.2%	0.18%	−0.03
DYNF Ishrs US E F R A ETF-Usd Inc.	Reduce -2.0%	0.18%	−0.02
BRK.B Berkshire Hathaway Inc. Class B	Reduce -6.7%	0.11%	−0.02
EPD Enterprise Products Partners	Reduce -13.4%	0.84%	−0.02
C Citigroup Inc.	Reduce -0.9%	0.15%	−0.01
CSCO Cisco Systems Inc.	Reduce -0.8%	0.27%	−0.01
SMMV iShares MSCI USA Small-Cap M	Reduce -2.1%	0.18%	−0.01
VKTX Viking Therapeutics Inc.	Reduce -1.8%	0.07%	−0.01
ECH iShares MSCI Chile ETF	Reduce -2.4%	0.08%	−0.01
IQLT iShares MSCI International Q	Reduce -2.1%	0.13%	−0.01
EMR Emerson Electric Co.	Reduce -0.6%	0.09%	−0.01
SPYD SS SPDR P S&P 500 Hi Div ETF	Reduce -0.9%	2.49%	−0.01
VFMF Vanguard US Multifactor ETF	Reduce -2.2%	0.09%	−0.00
DEHP Dimensional Emrg MRK Hi Prof	Reduce -2.6%	0.11%	−0.00
DFLV Dim US Large Cap Value ETF	Reduce -0.2%	0.35%	−0.00
DES Wisdomtree US Smallcap Divid	Reduce -3.1%	0.28%	−0.00

Portfolio Buys Q4 2025 → Q1 2026


DFIV Dimensional International Va	Add +21.7%	6.81%	+1.28
IBDX iShares Ibonds Dec 2032 TC	Add +27.7%	5.36%	+1.05
AAPL Apple Inc.	Add +13.7%	3.99%	+0.85
IBHF iShares Ibond 2026 HY & Inc.	Add +14.2%	7.41%	+0.79
IBDW iShares Ibonds Dec 2031 Corp.	Add +31.1%	2.49%	+0.61
NVDA Nvidia Corp.	Add +391.7%	0.76%	+0.59
OKE Oneok Inc.	Add +11.4%	1.56%	+0.37
CTA Simplify Managed Futures St	Add +9.6%	2.65%	+0.37
IBDY iShares Ibonds Dec 2033 Corp.	Add +98.7%	0.50%	+0.25
PFF iShares Preferred & Income S	New	0.22%	+0.22
PSX Phillips 66	Add +51.4%	0.42%	+0.21
COP Conocophillips	Add +0.6%	0.78%	+0.20
HDV iShares Core High Dividend E	Add +2.5%	2.27%	+0.19
FNDE Schwab Fndmntl Em MRK Eq ETF	Add +3.7%	3.59%	+0.18
MTUM iShares MSCI USA Momentum Fa	New	0.17%	+0.17
IDV iShares International Select	Add +1.5%	3.44%	+0.15
IBHG iShares Ibonds 2027 HY Inc.	Add +122.1%	0.25%	+0.13
APA Apa Corp.	Add +2.0%	0.27%	+0.11
CMCSA Comcast Corp. Class A	New	0.11%	+0.11
MRK Merck & Co. Inc.	Add +47.9%	0.25%	+0.09
AVDV Avantis Intl S/C Value ETF	Add +2.4%	2.15%	+0.08
ELM Elm Market Navigator ETF	New	0.08%	+0.08
PFE Pfizer Inc.	Add +68.1%	0.17%	+0.08
SCHD Schwab US DVD Equity ETF	Add +0.5%	1.08%	+0.07
TGT Target Corp.	Add +19.9%	0.25%	+0.07
XSHD Invesco S&P Smallcap High Di	Add +38.0%	0.28%	+0.07
GOOGL Alphabet Inc. Class A	Add +65.8%	0.22%	+0.07
GSK GSK PLC-Spon ADR	New	0.06%	+0.06
CAG Conagra Brands Inc.	Add +58.3%	0.23%	+0.06
DVY iShares Select Dividend ETF	New	0.06%	+0.06
AMAT Applied Materials Inc.	New	0.06%	+0.06
GL Globe Life Inc.	New	0.06%	+0.06
KMB Kimberly-Clark Corp.	Add +32.7%	0.34%	+0.06
OLN Olin Corp.	New	0.06%	+0.06
BMY Bristol-Myers Squibb Co.	Add +10.3%	0.37%	+0.06
EFAV iShares MSCI Eafe Min Vol Fa	Add +35.5%	0.20%	+0.05
IBDV iShares Ibonds Dec 2030 Corp.	Add +25.1%	0.34%	+0.05
AMZN Amazon.com Inc.	Add +65.5%	0.17%	+0.05
IMTM iShares MSCI Intl Momentum F	Add +30.3%	0.24%	+0.05
DEO Diageo PLC-Sponsored ADR	Add +109.3%	0.11%	+0.05
COLD Americold Realty Trust Inc.	New	0.04%	+0.04
POR Portland General Electric Co.	Add +24.4%	0.18%	+0.04
RSP Invesco S&P 500 Equal Weight	Add +7.7%	1.14%	+0.04
USDU Wisdomtree BBG Usd Bullish	Add +10.7%	0.42%	+0.03
FNDX Schwab Fndmntl US LRG Co. ETF	Add +3.6%	1.93%	+0.03
XLV SS Health Care Select Sector	Add +21.2%	0.28%	+0.02
WMB Williams Cos Inc.	Add +6.8%	0.11%	+0.02
AES AES Corp.	Add +15.3%	0.22%	+0.02
PEP Pepsico Inc.	Add +0.2%	0.31%	+0.01
PG The Procter & Gamble Co.	Add +11.1%	0.14%	+0.01

Options Activity Q4 2025 → Q1 2026


WMT Walmart Inc.	put	Sold out	1,000	$111Kbefore exit

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

Notes & Other Activity Q4 2025 → Q1 2026


IBDR iShares Ibonds Dec 2026 Term	IBONDS DEC2026 · principal	New	1,015,106	$24.6M
IBDS Ishrs Ibnds Dec 27 Corp. ETF	IBONDS 27 ETF · principal	New	95,309	$2.3M
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29)	DEB 4.000%11/1 · principal	New	17,000	$611

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

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	178	$369.4M	IBHF, AVUV, FIX, DFIV, IBDX
Q1 2026	155	$343.7M	IBHF, AVUV, DFIV, IBDX, FIX
Q4 2025	152	$328.6M	AVUV, IBHF, IBDR, DFIV, IBDX
Q3 2025	137	$282.5M	AVUV, DFIV, IBHF, FIX, FNDE
Q2 2025	131	$262.6M	AVUV, DFIV, IBHF, IBDR, FNDE
Q1 2025	125	$234.1M	DFIV, AVUV, IBHF, AAPL, IBDR
Q4 2024	119	$205.0M	AVUV, DFIV, AAPL, SPYD, IBHF
Q3 2024	128	$210.0M	AVUV, DFIV, IDV, AAPL, SPYD
Q2 2024	126	$187.4M	AVUV, DFIV, SPYD, IDV, AAPL
Q1 2024	119	$169.7M	AVUV, DFIV, DFAI, AMLP, IDV