CWA Asset Management Group, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), CWA Asset Management Group, LLC reported 659 stock positions worth $2.7 billion. Its top holding was Nvidia (NVDA) at 6.8% of the portfolio, followed by Apple (AAPL, 5.1%) and Microsoft (MSFT, 3.9%). Compared with Q2 2025, it opened 86 new positions, sold out of 62, added to 309 and reduced 228. The biggest buy was iShares 1-3 Year Treasury Bo (SHY, shares +103%) and the biggest sale Vanguard Short-Term Treasury (VGSH, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- NAPLES, FL
- CIK
- 0001667134
- Portfolio Value
- $2.7B (Q3 2025)
- SEC Filing
- 0001667134-25-000006 ↗ filed Oct 22, 2025
Holdings Value
Holdings 659 stocks · $2.7B
| NVDA Nvidia Corp. | 6.78% | 980,475 | $182.9M | Add +0.5% |
| AAPL Apple Inc. | 5.13% | 543,635 | $138.4M | Add +3.7% |
| MSFT Microsoft Corp. | 3.91% | 203,728 | $105.5M | Add +2.5% |
| SHY iShares 1-3 Year Treasury Bo | 2.46% | 799,559 | $66.3M | Add +102.9% |
| GLD SPDR Gold Shares | 2.12% | 160,811 | $57.2M | Add +47.7% |
| AMZN Amazon.com Inc. | 2.05% | 252,649 | $55.5M | Add +3.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.76% | 517,960 | $47.5M | Reduce -11.2% |
| META Meta Platforms Inc. Class A | 1.60% | 58,716 | $43.1M | Add +10.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.44% | 77,192 | $38.8M | Add +2.3% |
| GOOG Alphabet Inc. Class C | 1.42% | 157,143 | $38.3M | Add +2.2% |
| CAPITOL SER TR | 1.34% | 1,415,240 | $36.1M | Add +16.9% |
| VCIT Vanguard Int-Term Corporate | 1.27% | 407,294 | $34.3M | Add +8.2% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 1.25% | 3,126,430 | $33.8M | Add +22.9% |
| COST Costco Wholesale Corp. | 1.23% | 35,840 | $33.2M | Add +1.0% |
| FNV Franco-Nevada Corp. | 1.20% | 145,457 | $32.4M | Add +87.6% |
| JPM JPMorgan Chase & Co. | 1.18% | 101,334 | $32.0M | Add +0.0% |
| GOOGL Alphabet Inc. Class A | 1.16% | 128,487 | $31.2M | Add +5.2% |
| VTI VG Morningstar TS MKT ETF-US | 1.15% | 94,579 | $31.0M | Add +2.5% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.99% | 525,390 | $26.8M | Reduce -0.9% |
| AVGO Broadcom Inc. | 0.92% | 75,432 | $24.9M | Add +3.7% |
| PLTR Palantir Technologies Inc. Class A | 0.89% | 131,908 | $24.1M | Reduce -1.0% |
| V Visa Inc. Class A | 0.87% | 68,804 | $23.5M | Add +2.5% |
| MO Altria Group Inc. | 0.82% | 335,418 | $22.2M | Add +5.2% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 0.79% | 213,114 | $21.2M | Add +1.7% |
| ORCL Oracle Corp. | 0.74% | 70,776 | $19.9M | Reduce -2.4% |
| SO The Southern Co. | 0.71% | 202,013 | $19.1M | Add +7.2% |
| FCN Fti Consulting Inc. | 0.70% | 117,717 | $19.0M | Add +108.5% |
| CCJ Cameco Corp. | 0.69% | 221,284 | $18.6M | Reduce -9.0% |
| JNJ Johnson & Johnson | 0.69% | 99,944 | $18.5M | Reduce -17.4% |
| IVV iShares Core S&P 500 ETF | 0.67% | 26,976 | $18.1M | Add +20.7% |
| DUK Duke Energy Corp. | 0.63% | 137,891 | $17.1M | Add +3.1% |
| ABBV Abbvie Inc. | 0.61% | 71,640 | $16.6M | Add +39.4% |
| OR Or Royalties Inc. | 0.57% | 381,747 | $15.3M | Add +112.6% |
| QCOM Qualcomm Inc. | 0.56% | 91,098 | $15.2M | Add +10.8% |
| RRC Range Resources Corp. | 0.54% | 388,569 | $14.6M | Add +43.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.52% | 21,089 | $14.0M | Reduce -5.1% |
| GS Goldman Sachs Group Inc. | 0.51% | 17,276 | $13.8M | Reduce -1.1% |
| BX Blackstone Inc. | 0.51% | 80,061 | $13.7M | Add +2.1% |
| CAH Cardinal Health Inc. | 0.50% | 85,946 | $13.5M | Reduce -23.3% |
| TSLA Tesla Inc. | 0.49% | 29,737 | $13.2M | Add +1.6% |
| CASY Casey's General Stores Inc. | 0.48% | 23,058 | $13.0M | Reduce -9.1% |
| XLC SS Comm Select Sector SPDR | 0.48% | 109,437 | $13.0M | Reduce -2.0% |
| GRMN Garmin Ltd. | 0.46% | 50,775 | $12.5M | Reduce -1.4% |
| ORLY O'reilly Automotive Inc. | 0.46% | 115,900 | $12.5M | Add +18.6% |
| PSA Public Storage | 0.46% | 42,730 | $12.3M | Reduce -4.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.44% | 147,074 | $11.8M | Reduce -5.0% |
| SMMD iShares Russell 2500 ETF | 0.43% | 158,638 | $11.7M | Add +3.9% |
| GLRE Greenlight Capital Re Ltd. Class A | 0.43% | 914,398 | $11.6M | Add +5.6% |
| DE Deere & Co. | 0.42% | 24,767 | $11.3M | Reduce -2.5% |
| LMT Lockheed Martin Corp. | 0.42% | 22,618 | $11.3M | Reduce -1.2% |
| AEM Agnico Eagle Mines Ltd. | 0.40% | 64,315 | $10.8M | Add +8.9% |
| JBL Jabil Inc. | 0.39% | 47,941 | $10.4M | Reduce -2.4% |
| WINA Winmark Corp. | 0.38% | 20,853 | $10.4M | Add +4.0% |
| RJF Raymond James Financial Inc. | 0.38% | 59,509 | $10.3M | Reduce -1.9% |
| APP AppLovin Corp. Class A | 0.37% | 14,022 | $10.1M | Reduce -8.4% |
| ICL Icl Group Ltd. | 0.37% | 1,606,506 | $10.1M | Add +1.9% |
| FCFS Firstcash Holdings Inc. | 0.35% | 59,782 | $9.5M | Add +3.9% |
| FNF Fidelity National Financial | 0.35% | 156,298 | $9.5M | Reduce -0.3% |
| FMB First Trust Managed Municipa | 0.34% | 179,598 | $9.1M | Reduce -16.3% |
| MUB iShares National Muni Bond E | 0.34% | 85,068 | $9.1M | Reduce -15.1% |
| VEA Vanguard Ftse Developed ETF | 0.34% | 150,995 | $9.0M | Reduce -0.9% |
| IBKR Interactive Brokers Gro Class A | 0.33% | 130,292 | $9.0M | Add +41.5% |
| VOO Vanguard S&P 500 ETF | 0.33% | 14,439 | $8.8M | Add +2.3% |
| INTU Intuit Inc. | 0.33% | 12,875 | $8.8M | Reduce -0.9% |
| MOS The Mosaic Co. | 0.32% | 252,925 | $8.8M | Reduce -15.6% |
| PG The Procter & Gamble Co. | 0.32% | 55,792 | $8.6M | Reduce -13.7% |
| GLW Corning Inc. | 0.32% | 104,464 | $8.6M | Reduce -0.7% |
| C Citigroup Inc. | 0.31% | 81,719 | $8.3M | Add +4.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.30% | 157,773 | $8.1M | Add +4.3% |
| CSCO Cisco Systems Inc. | 0.29% | 115,108 | $7.9M | Reduce -1.8% |
| PLD Prologis Inc. | 0.29% | 67,589 | $7.7M | Reduce -1.8% |
| PHM Pultegroup Inc. | 0.28% | 57,984 | $7.7M | Reduce -1.4% |
| SYF Synchrony Financial | 0.28% | 106,159 | $7.5M | Reduce -1.4% |
| RTX RTX Corp. | 0.28% | 45,070 | $7.5M | Reduce -3.2% |
| GM General Motors Co. | 0.28% | 122,664 | $7.5M | Add +7.4% |
| HD Home Depot Inc. | 0.27% | 18,130 | $7.3M | Add +11.0% |
| CELH Celsius Holdings Inc. | 0.27% | 126,352 | $7.3M | Reduce -2.0% |
| HII Huntington Ingalls Industrie | 0.26% | 24,746 | $7.1M | Add +51.2% |
| USB US Bancorp | 0.26% | 143,705 | $6.9M | Add +7.9% |
| WMT Walmart Inc. | 0.26% | 67,031 | $6.9M | Reduce -1.4% |
| UNM Unum Group | 0.25% | 87,218 | $6.8M | Add +9.7% |
| BMY Bristol-Myers Squibb Co. | 0.25% | 150,359 | $6.8M | Add +25.9% |
| ADSK Autodesk Inc. | 0.25% | 21,108 | $6.7M | Reduce -2.8% |
| DLTR Dollar Tree Inc. | 0.25% | 70,902 | $6.7M | Add +1162.3% |
| CVX Chevron Corp. | 0.24% | 42,114 | $6.5M | Add +6.4% |
| VGSH Vanguard Short-Term Treasury | 0.24% | 111,061 | $6.5M | Reduce -74.8% |
| LRCX Lam Research Corp. | 0.24% | 47,597 | $6.4M | Add +87.2% |
| IBIT iShares Bitcoin Trust ETF | 0.24% | 97,945 | $6.4M | Add +6.8% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.23% | 178,505 | $6.1M | Add +2.1% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.23% | 115,519 | $6.1M | Reduce -1.7% |
| GILD Gilead Sciences Inc. | 0.23% | 54,812 | $6.1M | Reduce -16.6% |
| INCY Incyte Corp. | 0.22% | 70,204 | $6.0M | New |
| FLUT Flutter Entertainment PLC-Di | 0.22% | 23,162 | $5.9M | Reduce -1.5% |
| TWLO Twilio Inc. Class A | 0.22% | 58,772 | $5.9M | Add +5.3% |
| RL Ralph Lauren Corp. | 0.22% | 18,748 | $5.9M | Add +8.1% |
| GFI Gold Fields Ltd.-Spons ADR | 0.22% | 139,785 | $5.9M | Add +11.9% |
| CMI Cummins Inc. | 0.21% | 13,664 | $5.8M | Reduce -0.6% |
| MGA Magna International Inc. | 0.21% | 121,519 | $5.8M | New |
| SGOV iShares 0-3 Month Treasury B | 0.21% | 55,874 | $5.6M | Reduce -58.5% |
| WFC Wells Fargo & Co. | 0.21% | 67,115 | $5.6M | Add +394.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $2.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 189,933 | $2.2M | No change |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q2 2025 → Q3 2025
| VGSH Vanguard Short-Term Treasury | Reduce -74.8% | 0.24% | −0.86 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -11.2% | 1.76% | −0.50 |
| SGOV iShares 0-3 Month Treasury B | Reduce -58.5% | 0.21% | −0.36 |
| CAH Cardinal Health Inc. | Reduce -23.3% | 0.50% | −0.30 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −0.25 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.20 |
| CHKP Check Point Software Tech | Reduce -75.9% | 0.05% | −0.20 |
| MA Mastercard Inc. Class A | Reduce -43.5% | 0.19% | −0.19 |
| DVA Davita Inc. | Sold out | 0.00% | −0.18 |
| AMGN Amgen Inc. | Reduce -69.3% | 0.07% | −0.18 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.17 |
| CART Maplebear Inc. | Sold out | 0.00% | −0.16 |
| SCCO Southern Copper Corp. | Sold out | 0.00% | −0.16 |
| WSM Williams-Sonoma Inc. | Sold out | 0.00% | −0.15 |
| JMST JPM Ultra-Short Muni Income | Reduce -0.9% | 0.99% | −0.15 |
| FIX Comfort Systems USA Inc. | Sold out | 0.00% | −0.14 |
| TAP Molson Coors Beverage Co. Class B | Sold out | 0.00% | −0.14 |
| PM Philip Morris International | Reduce -24.2% | 0.20% | −0.14 |
| MOS The Mosaic Co. | Reduce -15.6% | 0.32% | −0.14 |
| NRG NRG Energy Inc. | Reduce -89.0% | 0.01% | −0.13 |
| SII Sprott Inc. | Reduce -50.9% | 0.14% | −0.13 |
| ACN Accenture PLC Class A | Reduce -32.5% | 0.12% | −0.13 |
| DE Deere & Co. | Reduce -2.5% | 0.42% | −0.13 |
| COIN Coinbase Global Inc. Class A | Reduce -76.5% | 0.03% | −0.12 |
| PG The Procter & Gamble Co. | Reduce -13.7% | 0.32% | −0.12 |
| FMB First Trust Managed Municipa | Reduce -16.3% | 0.34% | −0.11 |
| TROW T Rowe Price Group Inc. | Reduce -85.7% | 0.02% | −0.11 |
| INTU Intuit Inc. | Reduce -0.9% | 0.33% | −0.11 |
| MUB iShares National Muni Bond E | Reduce -15.1% | 0.34% | −0.11 |
| AGX Argan Inc. | Sold out | 0.00% | −0.10 |
| JNJ Johnson & Johnson | Reduce -17.4% | 0.69% | −0.10 |
| PSA Public Storage | Reduce -4.0% | 0.46% | −0.10 |
| GL Globe Life Inc. | Reduce -37.5% | 0.16% | −0.09 |
| CNC Centene Corp. | Sold out | 0.00% | −0.09 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.09 |
| VST Vistra Corp. | Reduce -79.8% | 0.02% | −0.09 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −0.09 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -5.0% | 0.44% | −0.09 |
| FTNT Fortinet Inc. | Reduce -6.0% | 0.16% | −0.08 |
| GILD Gilead Sciences Inc. | Reduce -16.6% | 0.23% | −0.08 |
| CCJ Cameco Corp. | Reduce -9.0% | 0.69% | −0.08 |
| LLY Eli Lilly & Co. | Reduce -18.9% | 0.17% | −0.07 |
| JXN Jackson Financial Inc. Class A | Sold out | 0.00% | −0.07 |
| FVRR Fiverr International Ltd. | Sold out | 0.00% | −0.07 |
| JBL Jabil Inc. | Reduce -2.4% | 0.39% | −0.07 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -44.7% | 0.05% | −0.07 |
| FLUT Flutter Entertainment PLC-Di | Reduce -1.5% | 0.22% | −0.07 |
| CMCSA Comcast Corp. Class A | Reduce -4.8% | 0.18% | −0.07 |
| CASY Casey's General Stores Inc. | Reduce -9.1% | 0.48% | −0.06 |
| OC Owens Corning | Sold out | 0.00% | −0.06 |
Portfolio Buys Q2 2025 → Q3 2025
| SHY iShares 1-3 Year Treasury Bo | Add +102.9% | 2.46% | +1.07 |
| GLD SPDR Gold Shares | Add +47.7% | 2.12% | +0.71 |
| FNV Franco-Nevada Corp. | Add +87.6% | 1.20% | +0.66 |
| AAPL Apple Inc. | Add +3.7% | 5.13% | +0.58 |
| OR Or Royalties Inc. | Add +112.6% | 0.57% | +0.37 |
| FCN Fti Consulting Inc. | Add +108.5% | 0.70% | +0.32 |
| GOOG Alphabet Inc. Class C | Add +2.2% | 1.42% | +0.26 |
| NVDA Nvidia Corp. | Add +0.5% | 6.78% | +0.25 |
| GOOGL Alphabet Inc. Class A | Add +5.2% | 1.16% | +0.25 |
| DLTR Dollar Tree Inc. | Add +1162.3% | 0.25% | +0.22 |
| INCY Incyte Corp. | New | 0.22% | +0.22 |
| MGA Magna International Inc. | New | 0.21% | +0.21 |
| ABBV Abbvie Inc. | Add +39.4% | 0.61% | +0.21 |
| ZM Zoom Communications Inc. | New | 0.21% | +0.21 |
| VOD Vodafone Group PLC-SP ADR | New | 0.17% | +0.17 |
| MSB Mesabi Trust | New | 0.17% | +0.17 |
| ORLA Orla Mining Ltd. | Add +22.9% | 1.25% | +0.17 |
| THC Tenet Healthcare Corp. | New | 0.16% | +0.16 |
| WFC Wells Fargo & Co. | Add +394.1% | 0.21% | +0.16 |
| DG Dollar General Corp. | New | 0.14% | +0.14 |
| LRCX Lam Research Corp. | Add +87.2% | 0.24% | +0.13 |
| ACI Albertsons Cos Inc. Class A | New | 0.12% | +0.12 |
| VZ Verizon Communications Inc. | Add +378.7% | 0.15% | +0.12 |
| IBKR Interactive Brokers Gro Class A | Add +41.5% | 0.33% | +0.12 |
| PPC Pilgrim's Pride Corp. | Add +363.2% | 0.15% | +0.11 |
| CSL Carlisle Cos Inc. | New | 0.11% | +0.11 |
| ED Consolidated Edison Inc. | Add +542.2% | 0.13% | +0.11 |
| AEM Agnico Eagle Mines Ltd. | Add +8.9% | 0.40% | +0.10 |
| CORZ Core Scientific Inc. | Add +195.6% | 0.16% | +0.10 |
| CRUS Cirrus Logic Inc. | New | 0.10% | +0.10 |
| HII Huntington Ingalls Industrie | Add +51.2% | 0.26% | +0.10 |
| TSLA Tesla Inc. | Add +1.6% | 0.49% | +0.10 |
| GFI Gold Fields Ltd.-Spons ADR | Add +11.9% | 0.22% | +0.09 |
| MMM 3M Co. | Add +267.9% | 0.13% | +0.09 |
| ORLY O'reilly Automotive Inc. | Add +18.6% | 0.46% | +0.09 |
| ADBE Adobe Inc. | Add +334.9% | 0.12% | +0.09 |
| PENG Penguin Solutions Inc. | New | 0.08% | +0.08 |
| ACM Aecom | New | 0.08% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +20.7% | 0.67% | +0.08 |
| APA Apa Corp. | New | 0.08% | +0.08 |
| RRC Range Resources Corp. | Add +43.5% | 0.54% | +0.08 |
| SAH Sonic Automotive Inc. Class A | New | 0.07% | +0.07 |
| AVGO Broadcom Inc. | Add +3.7% | 0.92% | +0.07 |
| EXC Exelon Corp. | Add +330.6% | 0.10% | +0.07 |
| BA The Boeing Co. | Add +161.6% | 0.12% | +0.07 |
| CALM Cal-Maine Foods Inc. | New | 0.07% | +0.07 |
| SU Suncor Energy Inc. | Add +64.9% | 0.18% | +0.07 |
| AXS Axis Capital Holdings Ltd. | New | 0.07% | +0.07 |
| CBOE Cboe Global Markets Inc. | New | 0.07% | +0.07 |
| CME Cme Group Inc. | Add +567.2% | 0.08% | +0.07 |
Options Activity Q2 2025 → Q3 2025
| KO The Coca-Cola Co. | put | Sold out | 11,800 | $7Kbefore exit |
| MO Altria Group Inc. | put | Sold out | 10,200 | $5Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| CORZZ Core Scientific Inc. - 29 | *W EXP 01/23/202 | Sold out | 158,277 | $2.7Mbefore exit |
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 | 693 | $3.3B | NVDA, AAPL, MSFT, SHY, VCIT |
| Q1 2026 | 643 | $2.9B | NVDA, AAPL, MSFT, SHY, GLD |
| Q4 2025 | 641 | $2.8B | NVDA, AAPL, MSFT, SHY, GLD |
| Q3 2025 | 659 | $2.7B | NVDA, AAPL, MSFT, SHY, GLD |
| Q2 2025 | 635 | $2.4B | NVDA, AAPL, MSFT, AMZN, BIL |
| Q1 2025 | 594 | $2.1B | AAPL, NVDA, MSFT, BIL, AMZN |
| Q4 2024 | 557 | $2.0B | NVDA, AAPL, MSFT, BIL, AMZN |
| Q3 2024 | 565 | $1.9B | NVDA, AAPL, MSFT, AMZN, COST |
| Q1 2024 | 529 | $1.6B | NVDA, AAPL, MSFT, AMZN, BRK.B |