CWM, LLC

CWM, LLC reported $38.1B in holdings across 5,738 positions for Q1 2025, with a portfolio dominated by broad-market and factor ETFs—together accounting for over half of disclosed assets. Beneath the passive core, the manager runs concentrated stakes in Apple ($693M), Nvidia ($606M), Microsoft ($439M), and Amazon ($337M), underscoring continued confidence in the Mag-7 AI complex. The quarter saw 32 of 59 reported changes as increases, with meaningful new additions including Broadcom, Walmart, ExxonMobil, and Johnson & Johnson suggesting modest diversification beyond tech into defensive and energy sectors.