SEC 13F Intelligence

Managers / Q1 2025 · view latest →

COWA, LLC

CIK 0001844480 · 8801 S. YALE AVENUE, SUITE 420, TULSA, OK, 74137 · 918-984-9110

Reported Value
$234M
Q1 2025
Positions
125
Filings on Record
23
2019–present window
Filed
May 13, 2025
original filing

Summary

Cowa, LLC reported $234M in U.S.-listed holdings across 125 positions for Q1 2025.

Its largest position, DFIV, represents 5.5% of the portfolio.

Compared with Q4 2024, the fund opened 9 new positions and exited 6.

Portfolio Metrics

Turnover
+8.7%
vs prior filed quarter
Top-10 Concentration
+42.3%
share of reported value
Largest Position
+5.5%
Dimensional Etf
New / Exited
9 / 6
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’20: $131MQ4 ’20Q1 ’21: $167MQ2 ’21: $161MQ3 ’21: $175MQ3 ’21Q4 ’21: $199MQ1 ’22: $201MQ2 ’22: $174MQ2 ’22Q3 ’22: $152MQ4 ’22: $161MQ1 ’23: $123MQ1 ’23Q2 ’23: $152MQ3 ’23: $148MQ4 ’23: $160MQ4 ’23Q1 ’24: $170MQ2 ’24: $187MQ3 ’24: $210MQ3 ’24Q4 ’24: $217MQ1 ’25: $234MQ2 ’25: $263MQ2 ’25Q3 ’25: $301MQ4 ’25: $329MQ1 ’26: $371MQ1 ’26filingsflow.com

Portfolio Composition

By security type
ETP: 73.0%Common Stock: 24.1%MLP: 1.7%ADR: 1.0%Other: 0.2%Other: 0.0%
  • ETP · 73.0% · $171M
  • Common Stock · 24.1% · $56M
  • MLP · 1.7% · $4M
  • ADR · 1.0% · $2M
  • Other · 0.2% · $489,802
  • Other · 0.0% · $4,066

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+167.9K167.9K+$4M$4M
DIMENSIONAL ETF TRUSTNEW+29.5K29.5K+$901,398$901,398
RTXRTX CORPORATIONNEW+3.6K3.6K+$481,227$481,227
ISHARES TRNEW+17.3K17.3K+$375,875$375,875
AESAES CORPNEW+26.3K26.3K+$326,547$326,547
SPDR SER TRNEW+1.4K1.4K+$288,506$288,506
VANGUARD INDEX FDSNEW+803803+$268,621$268,621
MSDLMORGAN STANLEY DIRECT LENDINNEW+13.4K13.4K+$268,183$268,183

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2025

30 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IBDQISHARES TRIBONDS 2026 TERM · IBONDS DEC2026 · INTL SEL DIV ETF · CORE HIGH DV ETF · IBONDS DEC 2032 · CORE MSCI EAFE · CORE S&P500 ETF · 0-3 MNTH TREASRY · IBONDS 25 TRM HG · IBONDS DEC25 ETF · CORE S&P SCP ETF · IBONDS DEC 2031 · IBONDS DEC 29 · IBDS DEC28 ETF26.73%$63M1.97M
2DFIVDIMENSIONAL ETF TRUSTINTERNATNAL VAL · INTL CORE EQT MK · US CORE EQT MKT · EMGR CRE EQT MNG10.18%$24M638.3K
3AMERICAN CENTY ETF TRUS SML CP VALU · INTL SMCP VLU7.25%$17M253.2K
4SCHWAB STRATEGIC TRFUNDAMENTAL EMER · FUNDAMENTAL US L · US DIVIDEND EQ5.99%$14M511.9K
5AAPLAPPLE INChistory →COM5.13%$12M35.8K
6SPDR SER TRPRTFLO S&P500 HI · S&P REGL BKG4.21%$10M216.7K
7SPDR DOW JONES INDL AVERAGEUT SER 12.31%$5M12.9K
8OKEONEOK INC NEWhistory →COM2.26%$5M53.2K
9SIMPLIFY EXCHANGE TRADED FUNMANAGED FUTURES2.05%$5M162.3K
10ALPS ETF TRALERIAN MLP2.02%$5M91.0K
11INVESCO EXCHANGE TRADED FD TS&P500 EQL WGT1.61%$4M42.0K
12FIXCOMFORT SYS USA INChistory →COM1.43%$3M10.4K
13GQ9SPDR GOLD TRhistory →GOLD SHS1.30%$3M10.6K
14EPDENTERPRISE PRODS PARTNERS Lhistory →COM1.30%$3M88.8K
15IAU*ISHARES GOLD TRhistory →ISHARES NEW1.27%$3M50.4K
16VANGUARD WHITEHALL FDSINTL HIGH ETF1.20%$3M38.2K
17COPCONOCOPHILLIPSCOM0.94%$2M21.0K
18VANGUARD INTL EQUITY INDEX FALLWRLD EX US0.86%$2M33.3K
19MSFTMICROSOFT CORPCOM0.72%$2M4.5K
20SPDR S&P 500 ETF TRTR UNIT0.67%$2M2.8K
21TAT&T INCCOM0.61%$1M50.7K
22SHELSHELL PLCSPON ADS0.57%$1M18.4K
23WMTWALMART INCCOM0.55%$1M14.7K
24BACBANK AMERICA CORPCOM0.54%$1M30.0K
25IBMINTERNATIONAL BUSINESS MACHSCOM0.48%$1M4.6K
26BMYBRISTOL-MYERS SQUIBB COCOM0.47%$1M18.0K
27ABBVABBVIE INCCOM0.44%$1M5.0K
28PSXPHILLIPS 66COM0.42%$987,8188.0K
29AMGNAMGEN INCCOM0.42%$980,9573.1K
30PAGPEURPLAINS GP HLDGS L PLTD PARTNR INT A0.41%$951,92044.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$371M158May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$329M153Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$301M141Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$263M131Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$234M125May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$217M122Feb 3, 202513F-HRchanges · EDGAR ↗
Q3 2024$210M128Nov 1, 202413F-HRchanges · EDGAR ↗
Q2 2024$187M126Aug 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$170M119May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$160M110Jan 16, 202413F-HRchanges · EDGAR ↗
Q3 2023$148M105Oct 30, 202313F-HRchanges · EDGAR ↗
Q2 2023$152M106Jul 25, 202313F-HRchanges · EDGAR ↗
Q1 2023$123M122May 4, 202313F-HRchanges · EDGAR ↗
Q4 2022$161M116Jan 27, 202313F-HRchanges · EDGAR ↗
Q3 2022$152M404Nov 4, 202213F-HRchanges · EDGAR ↗
Q2 2022$174M137Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$201M158May 18, 2022RESTATEMENTchanges · EDGAR ↗
Q4 2021$199M157Feb 4, 202213F-HRchanges · EDGAR ↗
Q3 2021$175M152Oct 22, 202113F-HRchanges · EDGAR ↗
Q2 2021$161M140Aug 2, 202113F-HRchanges · EDGAR ↗
Q1 2021$167M399May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$131M422Feb 5, 202113F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.