Cassaday & Co Wealth Management LLC

The loudest line in Cassaday & Co Wealth Management’s Q1 2026 13F — a seemingly new $308.5M stake in World Gold Trust (GLDM) — is an identifier artifact, not a purchase: an almost identical World Gold Trust position (3.38M shares) drops out of the prior quarter under a different CUSIP at exactly the moment GLDM appears, and the share count actually slipped about 1.4%. Strip out that phantom and the $4.7B, 1,368-line book reads as a disciplined rebalancing engine wrapped around one unusually concentrated factor bet: 29.1% of assets sit in a single fund, Vanguard Mega-Cap Growth (MGK), where the firm added shares even as the position shed roughly $149M in value. Real assets are the quiet second pillar — GLDM at 6.6% is the No. 2 holding, with commodities (DJP) and real estate (XLRE) pushing the inflation-hedge sleeve near 11% — while the only genuinely new tickers are leveraged small/mid-cap funds URTY and MVV, a combined $8.6M toe-dip. At the edges, single names were trimmed — NVDA shares cut 8.3%, MSFT 1.9% — and META exited entirely.