13F Insight
DOSSIER · 13F-HR · Q1 2026

CWM, LLC

$38.1B in tracked AUM across 5,738 positions as of Q1 2026.

CL
CIK 0001535847 · last filed Mar 31, 2026
Total AUM
$38.1B
as of Q1 2026
Holdings
5,738
—
positions
Whale Score
55
55
tracked
Activity
—
no data
changes this Q
AI Analysis · Q1 2026

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.

ETF Anchors

The top-eight positions are all ETF vehicles—IVV, SPYM, IUSB, SPDW, IVE, IVW, CORO, and SPY—together worth roughly $6.8B ~ 17.9% of assets. Within that sub-portfolio, broad-market S&P 500 exposure (IVV, SPY, IVW) dominates, while factor and fixed-income ETFs (QUAL, SPTI, SPAB, GOVT, BOND) provide duration, quality, and international equity tilts. The ETF stack functions as a dense, liquid core with minimal tracking-error effort.

Mega-Cap Equity Overweights

Beyond the ETFs, six individual stocks punch well above the noise floor. Apple (AAPL) at $693M (1.82%) and Nvidia (NVDA) at $606M (1.59%) are the largest single-stock positions and were both increased quarter-over-quarter by roughly 1% in share count. Microsoft (MSFT) at $439M (1.15%) and Amazon (AMZN) at $337M (0.89%) round out the four-position tech cluster, together worth ~$2.1B. Broadcom (AVGO) joins as a new position at $207M (0.54%). Berkshire Hathaway (BRK/B) at $189M (0.50%) provides a minor quality/defensive ballast.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
IVV
ISHARES TR
$911M1.4M2.4%02
SPYM
SPDR SERIES TRUST
$861M11.3M2.3%03
IUSB
ISHARES TR
$814M17.6M2.1%04
SPDW
SPDR INDEX SHS FDS
$807M17.7M2.1%05
AAPL
APPLE INC
$693M2.7M1.8%06
NVDA
NVIDIA CORPORATION
$606M3.5M1.6%07
IVE
ISHARES TR
$542M2.6M1.4%08
IVW
ISHARES TR
$540M4.8M1.4%09
CORO
BLACKROCK ETF TRUST
$521M16.2M1.4%10
SPY
STATE STR SPDR S&P 500 ETF T
$459M1.0M1.2%

Filing history

2026Q1Mar 31
$38.1B▲ 3.1%
5,738 positionsView →2025Q4Dec 31
$36.9B▲ 11.0%
5,622 positionsView →2025Q3Sep 30
$33.3B▲ 17.3%
5,526 positionsView →2025Q2Jun 30
$28.4B▲ 13.1%
5,277 positionsLocked2025Q1Mar 31
$25.1B▲ 4.1%
5,238 positionsLocked2024Q4Dec 31
$24.1B▲ 3.6%
5,134 positionsLocked2024Q3Sep 30
$23.3B▲ 9.6%
5,119 positionsLocked2024Q2Jun 30
$21.2B▲ 3.1%
4,996 positionsLocked2024Q1Mar 31
$20.6B▲ 10.6%
4,792 positionsLocked2023Q4Dec 31
$18.6B▲ 14.0%
4,402 positionsLocked2023Q3Sep 30
$16.3B▲ 0.8%
4,492 positionsLocked2023Q2Jun 30
$16.2B▲ 9.3%
4,449 positionsLocked
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