AWM CAPITAL, LLC

AWM Capital LLC's $1.10B 13F for Q1 2026 is an institutional portfolio whose structural identity is anchored in third-party ETF vehicles rather than single-stock selection — the top five positions are exclusively iShares/Dimensional/Specialized ETFs (DFAC at 17.1%, DFSU at 12.2%, DFIC at 11.3%, SGOV at 6.0%, TBLL at 5.8%) with six ETFs present across the top eight holdings, signaling a mandate built on index vehicle composition rather than fundamental equity research. With whaleScore of 68.50 reflecting high concentration through vehicle choice across only 113 names, this manager's investment expression operates at the fund-structure tier — individual stock selection responsibility is outsourced to the underlying ETF providers — a practice consistent with institutional wraparound or SMA-type products where manager alpha is generated at the sleeve-allocation level rather than the security-selection level. The remaining ~106 names are fillers at sub-5% weights, and the absence of meaningful single-stock conviction at the top layer limits the diagnostic value of this filing as a single-stock conviction signal.