Kozak & Associates, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Kozak & Associates, Inc. reported 422 stock positions worth $517.5 million. Its top holding was Invesco S&P 500 Revenue ETF (RWL) at 13.1% of the portfolio, followed by iShares U.S. Tech Independen (IETC, 12.7%) and SS SPDR S&P 500 ETF Trust-US (SPY, 8.9%). Compared with Q3 2025, it opened 18 new positions, sold out of 38, added to 97 and reduced 100. The biggest buy was iShares U.S. Industrials ETF (IYJ, shares +6%) and the biggest sale Microsoft (MSFT, shares −3%).

Most Recent 13F
Q2 2026
Location
HIGHLANDS RANCH, CO
CIK
0001764970
Portfolio Value
$517.5M (Q4 2025)
SEC Filing
0001764970-26-000001 ↗ filed Jan 12, 2026

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $371.9M Q1 2024 Q2 2024: $405.1M Q2 2024 Q3 2024: $423.0M Q3 2024 Q4 2024: $437.5M Q4 2024 Q1 2025: $400.8M Q1 2025 Q2 2025: $490.7M Q2 2025 Q3 2025: $507.8M Q3 2025 Q4 2025: $517.5M $517.5M Q4 2025 Q1 2026: $512.8M Q1 2026 Q2 2026: $576.0M Q2 2026

Holdings 422 stocks · $517.5M
RWL Invesco S&P 500 Revenue ETF 13.12% 575,024 $67.9M Add +0.8%
IETC iShares U.S. Tech Independen 12.73% 641,304 $65.9M Reduce -0.6%
SPY SS SPDR S&P 500 ETF Trust-US 8.85% 66,020 $45.8M Reduce -4.4%
QQQ Invesco QQQ Trust Series 1 8.42% 69,558 $43.6M Reduce -1.7%
IYG iShares U.S. Financial Servi 7.66% 420,525 $39.7M Add +0.7%
IYJ iShares U.S. Industrials ETF 6.42% 214,805 $33.2M Add +6.4%
SPYG SS SPDR P S&P 500 Growth ETF 6.36% 305,082 $32.9M Reduce -0.7%
SMH Vaneck Semiconductor ETF 4.97% 66,090 $25.7M Reduce -0.4%
NVDA Nvidia Corp. 4.82% 134,836 $24.9M Reduce -4.4%
MSFT Microsoft Corp. 4.58% 49,441 $23.7M Reduce -2.5%
AAPL Apple Inc. 4.32% 86,174 $22.4M Reduce -2.6%
AMZN Amazon.com Inc. 3.78% 78,981 $19.5M Reduce -5.6%
COST Costco Wholesale Corp. 2.68% 14,999 $13.9M Reduce -14.6%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 1.42% 14,871 $7.4M Add +26.8%
SCHW Schwab (charles) Corp. 0.57% 29,511 $3.0M Reduce -2.1%
JPM JPMorgan Chase & Co. 0.47% 7,425 $2.4M Reduce -0.3%
AVGO Broadcom Inc. 0.47% 7,079 $2.4M Add +2.3%
GOOG Alphabet Inc. Class C 0.40% 6,359 $2.1M Reduce -14.3%
V Visa Inc. Class A 0.31% 4,632 $1.6M Reduce -13.7%
IJK iShares S&P Mid-Cap 400 Grow 0.28% 14,290 $1.4M Add +0.2%
LMT Lockheed Martin Corp. 0.27% 2,542 $1.4M Add +0.7%
NFLX Netflix Inc. 0.23% 13,243 $1.2M Reduce -91.6%
GOOGL Alphabet Inc. Class A 0.22% 3,511 $1.2M Reduce -23.1%
CAT Caterpillar Inc. 0.21% 1,800 $1.1M Add +5.8%
ABBV Abbvie Inc. 0.21% 4,970 $1.1M Add +2.0%
WM Waste Management Inc. 0.17% 4,052 $895K No change
XSMO Invesco S&P Smallcap Momentu 0.17% 11,773 $882K Reduce -6.4%
BX Blackstone Inc. 0.17% 5,506 $868K No change
AXP American Express Co. 0.16% 2,228 $837K Reduce -10.3%
NOBL Proshares S&P 500 Dividend A 0.15% 7,352 $787K Reduce -15.7%
CVX Chevron Corp. 0.14% 4,461 $723K Reduce -52.3%
META Meta Platforms Inc. Class A 0.13% 1,063 $694K Reduce -44.4%
DE Deere & Co. 0.13% 1,374 $671K Reduce -0.1%
NOW ServiceNow Inc. 0.12% 4,498 $638K Reduce -7.5%
FSLR First Solar Inc. 0.12% 2,650 $632K No change
MAR Marriott International Class A 0.12% 1,891 $621K Add +0.2%
MCD McDonald's Corp. 0.12% 2,007 $617K Reduce -14.6%
GE General Electric filed as GE AEROSPACE 0.11% 1,843 $593K Reduce -0.9%
CSX CSX Corp. 0.11% 16,725 $589K Add +4.4%
XOM Exxon Mobil Corp. 0.11% 4,701 $586K Add +0.9%
PG The Procter & Gamble Co. 0.11% 3,878 $550K Reduce -17.2%
DRI Darden Restaurants Inc. 0.10% 2,565 $519K No change
HD Home Depot Inc. 0.10% 1,318 $494K Reduce -18.6%
GEV GE Vernova Inc. 0.09% 780 $486K Reduce -0.4%
COF Capital One Financial Corp. 0.09% 1,884 $470K Reduce -33.5%
GS Goldman Sachs Group Inc. 0.08% 467 $439K Reduce -3.7%
SHOP Shopify Inc. Class A 0.08% 2,667 $439K No change
NEE Nextera Energy Inc. 0.08% 5,412 $432K Add +0.7%
IVV iShares Core S&P 500 ETF 0.08% 589 $411K Reduce -13.9%
WDAY Workday Inc. Class A 0.08% 1,878 $389K Reduce -31.0%
GILD Gilead Sciences Inc. 0.07% 3,000 $363K No change
QCOM Qualcomm Inc. 0.07% 2,015 $358K Reduce -20.8%
CSCO Cisco Systems Inc. 0.07% 4,790 $354K Reduce -37.2%
ORCL Oracle Corp. 0.07% 1,716 $341K Reduce -2.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 1,110 $338K Reduce -8.6%
BLK BlackRock Inc. 0.06% 287 $312K Reduce -55.9%
KO The Coca-Cola Co. 0.06% 4,420 $312K Add +4.5%
VLO Valero Energy Corp. 0.06% 1,669 $309K Add +0.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 5,517 $308K Reduce -30.5%
DUK Duke Energy Corp. 0.06% 2,620 $306K Add +0.3%
JNJ Johnson & Johnson 0.06% 1,479 $302K Reduce -21.0%
OKLO Oklo Inc. 0.05% 2,700 $284K No change
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.05% 10,000 $263K No change
XEL Xcel Energy Inc. 0.05% 3,473 $258K No change
SHEL Shell PLC-ADR 0.05% 3,598 $255K Add +0.0%
WMB Williams Cos Inc. 0.05% 4,188 $253K Add +0.8%
CRM Salesforce Inc. 0.05% 967 $251K Reduce -61.5%
PYLD PIMCO Multisector Bond Actv 0.04% 8,548 $229K Reduce -59.6%
ROP Roper Technologies Inc. 0.04% 507 $220K No change
MDGL Madrigal Pharmaceuticals Inc. 0.04% 424 $218K No change
MO Altria Group Inc. 0.04% 3,648 $210K Add +0.8%
LRCX Lam Research Corp. 0.04% 929 $203K Add +0.1%
EFA iShares MSCI Eafe ETF 0.04% 2,040 $202K Add +1.4%
BRK.B Berkshire Hathaway Inc. Class B 0.04% 392 $196K No change
AEM Agnico Eagle Mines Ltd. 0.04% 1,000 $191K No change
DAL Delta Air Lines Inc. 0.04% 2,610 $189K No change
TSLA Tesla Inc. 0.04% 414 $184K Reduce -30.8%
PEY Invesco High Yield Equity Di 0.04% 8,536 $181K Add +0.8%
PEP Pepsico Inc. 0.03% 1,278 $179K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.03% 674 $178K Add +0.1%
LOW Lowe's Cos Inc. 0.03% 590 $158K Reduce -0.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 1,333 $154K Reduce -9.6%
RTX RTX Corp. 0.03% 808 $152K Reduce -51.2%
MS Morgan Stanley 0.03% 816 $152K Reduce -6.7%
NOC Northrop Grumman Corp. 0.03% 243 $150K Add +0.4%
T AT&T Inc. 0.03% 5,804 $139K Add +4.3%
EA Electronic Arts Inc. 0.03% 679 $139K Reduce -50.9%
ADBE Adobe Inc. 0.03% 400 $134K Reduce -63.1%
UNH Unitedhealth Group Inc. 0.03% 386 $133K Reduce -17.7%
ABT Abbott Laboratories 0.03% 1,047 $132K No change
AMP Ameriprise Financial Inc. 0.03% 256 $130K Add +0.4%
CMG Chipotle Mexican Grill Inc. 0.02% 3,212 $129K Add +4.9%
GPC Genuine Parts Co. 0.02% 1,001 $128K No change
UBER Uber Technologies Inc. 0.02% 1,501 $128K Add +310.1%
AMGN Amgen Inc. 0.02% 381 $124K Add +0.5%
VUG Vanguard Mrngstar GR ETF-Sui 0.02% 251 $123K Reduce -7.7%
RY Royal Bank of Canada 0.02% 671 $114K No change
AFL Aflac Inc. 0.02% 1,033 $113K Add +0.5%
CMI Cummins Inc. 0.02% 204 $113K Reduce -5.1%
C Citigroup Inc. 0.02% 923 $112K Reduce -9.2%

Show all 422 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $168 (not counted above)
SecurityClassShares / PrincipalValueChange
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 8$168New
Lines left out (6) · $111 — a value with no share or principal amount
SecurityClassSharesValue
IWO iShares Russell 2000 Growth RUS 2000 GRW ETF0$55
VV Vngrd Mrgstr LRG-Cap ETF-Usd LARGE CAP ETF0$40
SPHQ Invesco S&P 500 Quality ETF S&P500 QUALITY0$7
CLX Clorox Company COM0$6
VOE Vngrd Mrngstr MD-Cap Val ETF MCAP VL IDXVIP0$2
SPSM SS SPDR P S&P 600 Small Cap ST STR SP600 SML0$1

Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.

Total filed on the 13F, all lines: $517.6M.

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -2.5% 4.58% −0.49
COST Costco Wholesale Corp. Reduce -14.6% 2.68% −0.48
NVDA Nvidia Corp. Reduce -4.4% 4.82% −0.37
AAPL Apple Inc. Reduce -2.6% 4.32% −0.34
SPY SS SPDR S&P 500 ETF Trust-US Reduce -4.4% 8.85% −0.20
CVX Chevron Corp. Reduce -52.3% 0.14% −0.15
NFLX Netflix Inc. Reduce -91.6% 0.23% −0.11
META Meta Platforms Inc. Class A Reduce -44.4% 0.13% −0.09
BLK BlackRock Inc. Reduce -55.9% 0.06% −0.07
CRM Salesforce Inc. Reduce -61.5% 0.05% −0.07
PYLD PIMCO Multisector Bond Actv Reduce -59.6% 0.04% −0.07
AMZN Amazon.com Inc. Reduce -5.6% 3.78% −0.06
CSCO Cisco Systems Inc. Reduce -37.2% 0.07% −0.05
WDAY Workday Inc. Class A Reduce -31.0% 0.08% −0.05
BSX Boston Scientific Corp. Reduce -66.7% 0.02% −0.04
ADBE Adobe Inc. Reduce -63.1% 0.03% −0.04
NOW ServiceNow Inc. Reduce -7.5% 0.12% −0.04
GOOGL Alphabet Inc. Class A Reduce -23.1% 0.22% −0.03
V Visa Inc. Class A Reduce -13.7% 0.31% −0.03
PG The Procter & Gamble Co. Reduce -17.2% 0.11% −0.03
SCHA Schwab US Small-Cap ETF Reduce -66.5% 0.02% −0.03
EA Electronic Arts Inc. Reduce -50.9% 0.03% −0.03
RTX RTX Corp. Reduce -51.2% 0.03% −0.03
OLED Universal Display Corp. Reduce -66.7% 0.02% −0.03
NOBL Proshares S&P 500 Dividend A Reduce -15.7% 0.15% −0.02
ADSK Autodesk Inc. Reduce -66.8% 0.01% −0.02
FDX FedEx Corp. Reduce -66.7% 0.01% −0.02
MCD McDonald's Corp. Reduce -14.6% 0.12% −0.02
COF Capital One Financial Corp. Reduce -33.5% 0.09% −0.02
BAC Bank of America Corp. Reduce -30.5% 0.06% −0.02
HD Home Depot Inc. Reduce -18.6% 0.10% −0.02
HON Honeywell International Inc. Reduce -48.3% 0.02% −0.02
LHX L3HARRIS Technologies Inc. Reduce -66.6% 0.01% −0.02
ZTS Zoetis Inc. Reduce -66.6% 0.01% −0.02
AZN Astrazeneca PLC-Spons ADR Reduce -66.7% 0.01% −0.02
JNJ Johnson & Johnson Reduce -21.0% 0.06% −0.02
QCOM Qualcomm Inc. Reduce -20.8% 0.07% −0.01
MRK Merck & Co. Inc. Reduce -48.4% 0.02% −0.01
GOOG Alphabet Inc. Class C Reduce -14.3% 0.40% −0.01
TSLA Tesla Inc. Reduce -30.8% 0.04% −0.01
IVV iShares Core S&P 500 ETF Reduce -13.9% 0.08% −0.01
ORCL Oracle Corp. Reduce -2.6% 0.07% −0.01
AGG iShares Core U.S. Aggregate Reduce -37.0% 0.02% −0.01
ET Energy Transfer LP Reduce -39.1% 0.01% −0.01
IBM Intl Business Machines Corp. Reduce -8.6% 0.07% −0.01
AXP American Express Co. Reduce -10.3% 0.16% −0.01
LITE Lumentum Holdings Inc. Reduce -67.0% 0.00% −0.01
VOO Vanguard S&P 500 ETF Reduce -41.2% 0.01% −0.00
CQP Cheniere Energy Partners LP Reduce -66.3% 0.00% −0.00
UNH Unitedhealth Group Inc. Reduce -17.7% 0.03% −0.00

Portfolio Buys Q3 2025 → Q4 2025
IYJ iShares U.S. Industrials ETF Add +6.4% 6.42% +0.81
RWL Invesco S&P 500 Revenue ETF Add +0.8% 13.12% +0.64
IYG iShares U.S. Financial Servi Add +0.7% 7.66% +0.60
DIA SS SPDR Dow Jones Indus Avg Add +26.8% 1.42% +0.35
LMT Lockheed Martin Corp. Add +0.7% 0.27% +0.03
CAT Caterpillar Inc. Add +5.8% 0.21% +0.03
IJK iShares S&P Mid-Cap 400 Grow Add +0.2% 0.28% +0.02
UBER Uber Technologies Inc. Add +310.1% 0.02% +0.02
MAR Marriott International Class A Add +0.2% 0.12% +0.01
LRCX Lam Research Corp. Add +0.1% 0.04% +0.01
SPOT Spotify Technology SA Add +1700.0% 0.01% +0.01
CSX CSX Corp. Add +4.4% 0.11% +0.01
CMG Chipotle Mexican Grill Inc. Add +4.9% 0.02% +0.01
XOM Exxon Mobil Corp. Add +0.9% 0.11% +0.01
AVGO Broadcom Inc. Add +2.3% 0.47% +0.01
MBB iShares MBS ETF Add +494.7% 0.00% +0.00
AMP Ameriprise Financial Inc. Add +0.4% 0.03% +0.00
AKRE Akre Focus ETF New 0.00% +0.00
BA The Boeing Co. Add +12.2% 0.01% +0.00
USIG iShares Broad Usd Investment New 0.00% +0.00
NOC Northrop Grumman Corp. Add +0.4% 0.03% +0.00
PCAR Paccar Inc. Add +0.4% 0.01% +0.00
PEY Invesco High Yield Equity Di Add +0.8% 0.04% +0.00
IWR iShares Russell Mid-Cap ETF Add +2000.0% 0.00% +0.00
ZION Zions Bancorp NA Add +0.9% 0.01% +0.00
INTU Intuit Inc. Add +125.0% 0.00% +0.00
VGIT Vanguard Intermediate-Term T New 0.00% +0.00
VONV Vanguard Russell 1000 Value New 0.00% +0.00
EFA iShares MSCI Eafe ETF Add +1.4% 0.04% +0.00
ELV Elevance Health Inc. Add +0.5% 0.02% +0.00
IAU iShares Gold Trust New 0.00% +0.00
KEY Keycorp Add +1.0% 0.01% +0.00
XYZ Block Inc. Add +117.7% 0.00% +0.00
VLO Valero Energy Corp. Add +0.7% 0.06% +0.00
NEM Newmont Corp. Add +0.3% 0.01% +0.00
TGT Target Corp. Add +36.5% 0.00% +0.00
KO The Coca-Cola Co. Add +4.5% 0.06% +0.00
VTWO Vanguard Russell 2000 ETF New 0.00% +0.00
IREN Iren Ltd. New 0.00% +0.00
SPTL SS SPDR PF LNG TRM TSY E-Usd New 0.00% +0.00
VT Vanguard Tot World STK ETF New 0.00% +0.00
EMB iShares JP Morgan Usd Emergi New 0.00% +0.00
HTGC Hercules Capital Inc. Add +2.3% 0.01% +0.00
IONQ Ionq Inc. Add +50.0% 0.00% +0.00
SCHV Schwab US Large-Cap Value Add +0.6% 0.02% +0.00
VONG Vanguard Russell 1000 Growth New 0.00% +0.00
USHY iShares Broad Usd High Yield New 0.00% +0.00
KWEB Kranesh Csi China Internet New 0.00% +0.00
OXY Occidental Petroleum Corp. New 0.00% +0.00
XLK SS Technology Select Sector New 0.00% +0.00

Notes & Other Activity Q3 2025 → Q4 2025
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 New 8 $168
VV Vngrd Mrgstr LRG-Cap ETF-Usd LARGE CAP ETF Reduce -100.0% 0 $40
SRET Global X Superdividend REIT SUPERDVDND REIT Sold out 0 $8before exit
CLX Clorox Company COM Reduce -100.0% 0 $6
SBRA Sabra Health Care REIT Inc. COM Sold out 0 $3before exit
JRS Nuveen Real Estate Income COM Sold out 0 $1before exit
SELF Global Self Storage Inc. COM Reduce -100.0% 0 $0
CBRE GBL REAL ESTATE INC FD COM Sold out 0 $0before exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 432$576.0MIETC, SPYG, SPY, QQQ, RWL
Q1 2026 441$512.8MRWL, IETC, SPY, QQQ, IYG
Q4 2025 422$517.5MRWL, IETC, SPY, QQQ, IYG
Q3 2025 445$507.8MIETC, RWL, SPY, QQQ, IYG
Q2 2025 411$490.7MIETC, RWL, SPY, QQQ, SPYG
Q1 2025 422$400.8MRWL, IETC, SPY, QQQ, SPYG
Q4 2024 405$437.5MIETC, RWL, SPY, QQQ, SPYG
Q3 2024 387$423.0MIETC, RWL, SPY, QQQ, NVDA
Q2 2024 383$405.1MIETC, SPY, RWL, QQQ, NVDA
Q1 2024 386$371.9MIETC, SPY, QQQ, RWL, MSFT