COWA, LLC
CIK 1844480 · View on SEC EDGAR ↗
- Portfolio value
- $398.6M
- Positions
- 181
- As of
- June 30, 2026
#4,372 of 9,443 by 13F value · top 46.3%
Portfolio value QoQ: +7.6% 13F does not disclose cash
- Top 10 holdings weight
- 48.41%
- Top 25 holdings weight
- 70.28%
- Positions above 1%
- 22
- Effective number of positions
- 32.4
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 2.78% Est. buys $29,473,622 · sells $10,696,789
Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 82.3% still held
- New positions
- 26
- Increased
- 67
- Decreased
- 58
- Closed
- 3
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Industrials
7.6%
Technology
5.7%
Energy
4.7%
Healthcare
2.0%
Financials
1.5%
Consumer Staples
1.3%
Retail
1.2%
Logistics & Transportation
0.6%
Consumer products
0.6%
Utilities
0.6%
Communication Services
0.5%
Communications
0.4%
Financial Services
0.4%
Telecommunication
0.3%
Consumer Discretionary
0.2%
Packaging
0.1%
Real Estate
0.1%
Materials
0.1%
Other/Unmapped
71.9%
Full portfolio 181 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| IBHF | $26,881,923 | 6.74% | 1,186,840 | $1,421,428 | Up ×6 | ||
| AVUV | $26,706,874 | 6.70% | 214,066 | $1,677,542 | Down ×2 | ||
| IBDR | $26,401,590 | 6.62% | 1,089,624 | $1,795,411 | Up ×6 | ||
| FIX Comfort Systems USA, Inc. Common Stock | $24,653,476 | 6.18% | 12,439 | $8,086,290 | Up ×1 | ||
| DFIV | $23,337,901 | 5.85% | 432,023 | $-79,551 | Down ×1 | ||
| IBDX | $19,499,759 | 4.89% | 774,107 | $1,077,874 | Up ×5 | ||
| FNDE | $13,404,361 | 3.36% | 337,812 | $1,049,808 | Up ×6 | ||
| AAPL Apple Inc. - Common Stock | $11,611,392 | 2.91% | 40,128 | $-2,098,137 | Down ×1 | ||
| IDV | $11,412,741 | 2.86% | 275,470 | $-407,392 | Down ×1 | ||
| SPYD | $9,061,523 | 2.27% | 189,929 | $509,498 | Up ×1 | ||
| IBDW | $9,027,193 | 2.26% | 433,167 | $474,258 | Up ×6 | ||
| CTA | $8,391,094 | 2.10% | 323,481 | $-713,618 | Up ×6 | ||
| HDV | $7,886,405 | 1.98% | 287,720 | $97,859 | Up ×4 | ||
| AVDV | $7,582,092 | 1.90% | 73,577 | $179,995 | Down ×1 | ||
| FNDX | $7,435,133 | 1.87% | 239,072 | $794,356 | Up ×3 | ||
| DIA | $6,348,606 | 1.59% | 12,153 | $577,041 | Down ×3 | ||
| DFAI | $6,000,886 | 1.51% | 145,476 | $367,737 | Up ×1 | ||
| SGOV iShares 0-3 Month Treasury Bond ETF | $5,147,744 | 1.29% | 51,135 | $487,816 | Up ×1 | ||
| OKE ONEOK, Inc. Common Stock | $5,085,124 | 1.28% | 58,490 | $-269,008 | Down ×1 | ||
| VYMI Vanguard International High Dividend Yield ETF | $4,541,597 | 1.14% | 46,248 | $272,510 | Up ×1 | ||
| DFAU | $4,474,287 | 1.12% | 86,560 | $588,372 | Up ×1 | ||
| RSP | $4,434,076 | 1.11% | 20,840 | $528,167 | Up ×4 | ||
| AMLP | $3,873,906 | 0.97% | 74,714 | $-81,869 | Down ×6 | ||
| SCHD | $3,801,219 | 0.95% | 119,874 | $98,539 | Down ×1 | ||
| IEFA | $3,163,476 | 0.79% | 32,755 | $292,377 | Up ×1 | ||
| EPD Enterprise Products Partners L.P. Common Stock | $2,989,691 | 0.75% | 81,330 | $101,364 | Up ×1 | ||
| NVDA NVIDIA Corporation - Common Stock | $2,946,422 | 0.74% | 14,725 | $319,048 | Down ×1 | ||
| IBDS | $2,833,931 | 0.71% | 117,008 | $523,641 | Up ×4 | ||
| VEU | $2,786,154 | 0.70% | 33,268 | $288,326 | Up ×2 | ||
| UPS United Parcel Service, Inc. Common Stock | $2,541,986 | 0.64% | 23,646 | $403,965 | Up ×5 | ||
| IBDT | $2,380,747 | 0.60% | 94,287 | $351,198 | Up ×5 | ||
| GLD | $2,323,741 | 0.58% | 6,308 | $-432,697 | Down ×6 | ||
| IAU | $2,195,756 | 0.55% | 29,079 | $-472,318 | Down ×6 | ||
| COP ConocoPhillips Common Stock | $2,112,260 | 0.53% | 20,318 | $-569,528 | Up ×3 | ||
| USDU | $2,079,573 | 0.52% | 77,741 | $642,534 | Up ×3 | ||
| SPY SPY | $2,033,454 | 0.51% | 2,723 | $246,319 | Down ×1 | ||
| IBDY | $1,975,800 | 0.50% | 76,745 | $249,278 | Up ×2 | ||
| PWR Quanta Services, Inc. Common Stock | $1,966,429 | 0.49% | 2,731 | $467,055 | |||
| MSFT Microsoft Corporation - Common Stock | $1,886,362 | 0.47% | 5,057 | $-13,108 | Down ×2 | ||
| KRE | $1,843,667 | 0.46% | 24,632 | $580,161 | Up ×4 | ||
| KMB Kimberly-Clark Corporation - Common Stock | $1,817,812 | 0.46% | 16,560 | $644,341 | Up ×2 | ||
| WMT Walmart Inc. - Common Stock | $1,604,781 | 0.40% | 14,169 | $-156,142 | |||
| IBDU | $1,504,218 | 0.38% | 64,949 | $-38,362 | Down ×1 | ||
| IVV | $1,485,049 | 0.37% | 1,983 | $348,269 | Up ×1 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $1,403,723 | 0.35% | 11,951 | $468,753 | Down ×2 | ||
| ABBV AbbVie Inc. Common Stock | $1,376,247 | 0.35% | 5,469 | $108,256 | Down ×2 | ||
| DFLV | $1,348,848 | 0.34% | 34,113 | $149,394 | Up ×1 | ||
| PSX Phillips 66 Common Stock | $1,330,025 | 0.33% | 7,868 | $-103,156 | Up ×2 | ||
| IBM International Business Machines Corporation Common Stock | $1,314,837 | 0.33% | 4,676 | $171,492 | Down ×1 | ||
| IJH | $1,288,971 | 0.32% | 16,716 | $167,230 | Up ×1 | ||
| SMLV | $1,244,720 | 0.31% | 7,910 | $158,355 | Down ×1 | ||
| DES | $1,194,821 | 0.30% | 29,371 | $216,524 | Up ×1 | ||
| BMY Bristol-Myers Squibb Company Common Stock | $1,171,021 | 0.29% | 20,323 | $-111,657 | Down ×1 | ||
| BAC Bank of America Corporation Common Stock | $1,128,090 | 0.28% | 19,798 | $162,937 | |||
| AMGN Amgen Inc. - Common Stock | $1,126,785 | 0.28% | 3,112 | $31,957 | Up ×1 | ||
| IBDV | $1,123,579 | 0.28% | 51,540 | $-37,955 | Down ×1 | ||
| SYLD | $1,091,795 | 0.27% | 13,805 | $-17,637 | Down ×2 | ||
| XOM Exxon Mobil Corporation Common Stock | $1,089,112 | 0.27% | 7,966 | $-262,399 | |||
| KHC The Kraft Heinz Company - Common Stock | $1,046,700 | 0.26% | 44,314 | $47,223 | Down ×1 | ||
| CVX Chevron Corporation Common Stock | $985,230 | 0.25% | 5,944 | $-146,256 | Up ×1 | ||
| XSHD | $972,134 | 0.24% | 68,848 | $5,696 | Down ×1 | ||
| PEP PepsiCo, Inc. - Common Stock | $959,193 | 0.24% | 7,084 | $-108,809 | Up ×5 | ||
| HD Home Depot, Inc. (The) Common Stock | $948,356 | 0.24% | 2,689 | $63,971 | |||
| TGT Target Corporation Common Stock | $943,851 | 0.24% | 7,226 | $78,660 | Up ×3 | ||
| HPE Hewlett Packard Enterprise Company Common Stock | $942,799 | 0.24% | 20,900 | $53,045 | Down ×1 | ||
| PRU Prudential Financial, Inc. Common Stock | $915,902 | 0.23% | 8,486 | $86,898 | |||
| IBHG | $909,585 | 0.23% | 41,195 | $42,199 | Up ×2 | ||
| SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) | $888,820 | 0.22% | 11,463 | $-194,327 | Down ×5 | ||
| IMTM | $874,292 | 0.22% | 16,394 | $66,259 | Down ×1 | ||
| QQQ Invesco QQQ Trust, Series 1 | $871,898 | 0.22% | 1,184 | $236,423 | Up ×1 | ||
| BOKF BOK Financial Corporation - Common Stock | $850,362 | 0.21% | 6,123 | $66,251 | |||
| KO Coca-Cola Company (The) Common Stock | $846,259 | 0.21% | 10,413 | $54,355 | Up ×1 | ||
| MRK Merck & Company, Inc. Common Stock (new) | $839,179 | 0.21% | 6,531 | $-13,162 | Down ×1 | ||
| CAG ConAgra Brands, Inc. Common Stock | $835,911 | 0.21% | 62,103 | $57,761 | Up ×4 | ||
| PAGP Plains GP Holdings, L.P. - Class A Shares representing limited partner interests | $822,029 | 0.21% | 33,870 | $-2,943 | Down ×3 | ||
| MTUM | $817,690 | 0.21% | 2,385 | $229,942 | Down ×1 | ||
| ARLP Alliance Resource Partners, L.P. - Common Units Representing Limited Partnership Interests | $804,721 | 0.20% | 33,558 | $-123,158 | |||
| PFF iShares Preferred and Income Securities ETF | $792,089 | 0.20% | 25,979 | $27,752 | Up ×1 | ||
| AES The AES Corporation Common Stock | $786,973 | 0.20% | 53,682 | $25,236 | Down ×1 | ||
| DVN Devon Energy Corporation Common Stock | $767,977 | 0.19% | 18,586 | $-166,597 | Up ×1 | ||
| IJR | $749,707 | 0.19% | 5,055 | $115,105 | Down ×2 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $749,047 | 0.19% | 2,096 | $1,536 | Down ×1 | ||
| T AT&T Inc. | $717,347 | 0.18% | 34,654 | $-252,182 | Up ×1 | ||
| BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share | $716,395 | 0.18% | 7,464 | $228,231 | Up ×1 | ||
| RTX RTX Corporation Common Stock | $713,954 | 0.18% | 3,763 | $-51,666 | Down ×1 | ||
| JPM JP Morgan Chase & Co. Common Stock | $678,882 | 0.17% | 2,074 | $73,207 | Up ×1 | ||
| GE GE Aerospace Common Stock | $678,694 | 0.17% | 1,816 | $163,368 | |||
| EFAV | $657,544 | 0.16% | 7,497 | $-34,383 | Down ×1 | ||
| XLE XLE | $654,325 | 0.16% | 12,320 | $-112,662 | Down ×1 | ||
| C Citigroup, Inc. Common Stock | $654,313 | 0.16% | 4,675 | $124,122 | |||
| DASH DoorDash, Inc. - Common Stock | $651,022 | 0.16% | 3,528 | Up ×1 | |||
| QUAL | $644,905 | 0.16% | 2,909 | $-526,095 | Down ×3 | ||
| IQLT | $637,015 | 0.16% | 12,856 | $206,752 | Up ×1 | ||
| USMV | $630,077 | 0.16% | 6,532 | $-1,138,939 | Down ×3 | ||
| POR Portland General Electric Co Common Stock | $614,412 | 0.15% | 11,854 | $-14,868 | Down ×1 | ||
| VZ Verizon Communications Inc. Common Stock | $601,948 | 0.15% | 14,217 | $-51,108 | Up ×1 | ||
| SCHY | $598,158 | 0.15% | 18,852 | $2,190 | Up ×5 | ||
| APA APA Corporation - Common Stock | $590,209 | 0.15% | 18,121 | $-344,843 | Down ×1 | ||
| WFC Wells Fargo & Company Common Stock | $586,909 | 0.15% | 7,102 | $21,519 | |||
| NOW ServiceNow, Inc. Common Stock | $577,512 | 0.14% | 5,817 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| IBHF | $26,881,923 | 6.74% | up ×6 |
| IBDR | $26,401,590 | 6.62% | up ×6 |
| IBDX | $19,499,759 | 4.89% | up ×5 |
| FNDE | $13,404,361 | 3.36% | up ×6 |
| IBDW | $9,027,193 | 2.26% | up ×6 |
| CTA | $8,391,094 | 2.10% | up ×6 |
| HDV | $7,886,405 | 1.98% | up ×4 |
| FNDX | $7,435,133 | 1.87% | up ×3 |
| RSP | $4,434,076 | 1.11% | up ×4 |
| IBDS | $2,833,931 | 0.71% | up ×4 |
| UPS | $2,541,986 | 0.64% | up ×5 |
| IBDT | $2,380,747 | 0.60% | up ×5 |
| COP | $2,112,260 | 0.53% | up ×3 |
| USDU | $2,079,573 | 0.52% | up ×3 |
| KRE | $1,843,667 | 0.46% | up ×4 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| DASH | $651,022 | 3,528 | 0.16% |
| NOW | $577,512 | 5,817 | 0.14% |
| INTC | $557,683 | 3,994 | 0.14% |
| IBCA | $504,517 | 19,700 | 0.13% |
| IBDZ | $462,156 | 17,741 | 0.12% |
| OWL | $452,563 | 51,722 | 0.11% |
| GEN | $431,481 | 17,336 | 0.11% |
| OCUL | $374,937 | 38,181 | 0.09% |
| CRM | $352,328 | 2,249 | 0.09% |
| TRVI | $334,544 | 17,938 | 0.08% |
| EVER | $304,797 | 12,812 | 0.08% |
| TRIP | $297,630 | 21,709 | 0.07% |
| NCNO | $293,483 | 17,950 | 0.07% |
| ALSN | $288,727 | 2,561 | 0.07% |
| VLO | $276,847 | 1,063 | 0.07% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| FIX | Bought more | +425 | +$8.1M |
| AAPL | Trimmed | -3K | -$2.1M |
| IBDR | Bought more | +75K | +$1.8M |
| AVUV | Trimmed | -13K | +$1.7M |
| IBHF | Bought more | +77K | +$1.4M |
| USMV | Trimmed | -13K | -$1.1M |
| IBDX | Bought more | +45K | +$1.1M |
| FNDE | Bought more | +15K | +$1.0M |
| FNDX | Bought more | +624 | +$794K |
| XLV | Trimmed | -5K | -$735K |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| IBHE | Dec. 31, 2025 | 127,151 | $2,952,448 | No longer tracked |
| FNDB | Dec. 31, 2025 | 98,501 | $2,590,576 | No longer tracked |
| IBDQ | Dec. 31, 2025 | 73,266 | $1,845,591 | No longer tracked |
| DFAE | June 30, 2025 | 55,955 | $1,745,873 | No longer tracked |
| FFTY | June 30, 2025 | 31,602 | $852,306 | No longer tracked |
| SPHD | Dec. 31, 2025 | 14,990 | $741,298 | No longer tracked |
| LLY | March 31, 2025 | 928 | $716,416 | 55.9% |
| DIVO | June 30, 2025 | 14,849 | $605,399 | No longer tracked |
| XLRE | June 30, 2025 | 14,109 | $590,462 | No longer tracked |
| VST | March 31, 2025 | 4,138 | $570,557 | 17.8% |
| EWJ | June 30, 2025 | 8,303 | $569,254 | No longer tracked |
| KBE | June 30, 2025 | 8,314 | $440,309 | No longer tracked |
| CPB | June 30, 2025 | 10,558 | $421,475 | -23.6% |
| DEHP | June 30, 2026 | 10,743 | $363,006 | No longer tracked |
| CFG | June 30, 2025 | 8,588 | $351,850 | 63.7% |
| LUV | June 30, 2025 | 10,152 | $340,904 | 30.8% |
| VFMF | June 30, 2026 | 2,050 | $317,904 | No longer tracked |
| UNH | Sept. 30, 2025 | 926 | $289,016 | 14.4% |
| XSD | June 30, 2025 | 1,437 | $288,506 | No longer tracked |
| VOOG | March 31, 2025 | 782 | $286,371 | No longer tracked |
| RCL | June 30, 2025 | 1,368 | $281,042 | -3.2% |
| VNQ | June 30, 2025 | 803 | $268,621 | No longer tracked |
| DE | June 30, 2025 | 535 | $251,102 | 16.5% |
| MGK | Dec. 31, 2025 | 616 | $247,891 | No longer tracked |
| ED | March 31, 2026 | 2,475 | $245,895 | -3.3% |
| VKTX | June 30, 2026 | 7,530 | $245,026 | -11.5% |
| DAL | March 31, 2025 | 4,000 | $242,000 | 95.0% |
| TCOM | March 31, 2026 | 3,361 | $241,690 | -7.7% |
| CLX | Dec. 31, 2025 | 1,900 | $234,270 | 7.0% |
| SMIG | Sept. 30, 2025 | 8,034 | $231,781 | No longer tracked |
| ITW | June 30, 2025 | 908 | $225,193 | 16.8% |
| AR | Sept. 30, 2025 | 5,500 | $221,540 | 11.5% |
| INOD | March 31, 2026 | 4,316 | $219,900 | 57.8% |
| ATRC | March 31, 2025 | 7,097 | $216,884 | 47.6% |
| AAON | March 31, 2025 | 1,769 | $208,176 | 3.1% |
| LYB | Dec. 31, 2025 | 4,180 | $204,987 | 55.4% |
| VOX | March 31, 2026 | 1,055 | $204,280 | No longer tracked |
| CNH | Dec. 31, 2025 | 17,020 | $184,669 | 11.0% |
| OEC | Dec. 31, 2025 | 13,700 | $103,846 | 19.5% |
| HELP | Dec. 31, 2025 | 13,200 | $77,748 | 43.9% |