SEC 13F Intelligence

Managers / Q4 2025 · view latest →

COWA, LLC

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

Reported Value
$329M
Q4 2025
Positions
153
Filings on Record
23
2019–present window
Filed
Feb 12, 2026
original filing

Summary

Cowa, LLC reported $329M in U.S.-listed holdings across 153 positions for Q4 2025.

Its largest position, American Centy Etf Tr, represents 7.0% of the portfolio.

Compared with Q3 2025, the fund opened 21 new positions and exited 10.

Portfolio Metrics

Turnover
+4.8%
vs prior filed quarter
Top-10 Concentration
+45.6%
share of reported value
Largest Position
+7.0%
American Centy Etf Tr
New / Exited
21 / 10
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: 75.0%Common Stock: 23.0%MLP: 1.2%ADR: 0.8%US DOMESTIC: 0.0%
  • ETP · 75.0% · $247M
  • Common Stock · 23.0% · $76M
  • MLP · 1.2% · $4M
  • ADR · 0.8% · $3M
  • US DOMESTIC · 0.0% · $916

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
KMBKIMBERLY-CLARK CORPNEW+9.2K9.2K+$924,556$924,556
ISHARES TRNEW+33.6K33.6K+$829,030$829,030
MRKMERCK & CO INCNEW+4.8K4.8K+$504,406$504,406
PORPORTLAND GEN ELEC CONEW+9.6K9.6K+$460,080$460,080
GOOGALPHABET INCNEW+1.4K1.4K+$450,998$450,998
JNJJOHNSON & JOHNSONNEW+2.2K2.2K+$445,834$445,834
ISHARES TRNEW+17.6K17.6K+$393,948$393,948
FISVFISERV INCNEW+5.1K5.1K+$340,082$340,082

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

Holdings — Q4 2025

30 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRIBONDS 2026 TERM · IBONDS DEC2026 · IBONDS DEC 2032 · INTL SEL DIV ETF · CORE HIGH DV ETF · IBONDS DEC 2031 · 0-3 MNTH TREASRY · CORE MSCI EAFE · CORE S&P500 ETF · IBDS DEC28 ETF · MSCI USA MIN VOL · IBONDS DEC 29 · MSCI USA QLT FCT · CORE S&P MCP ETF30.06%$99M3.28M
2DFIVDIMENSIONAL ETF TRUSTINTERNATNAL VAL · US CORE EQT MKT · INTL CORE EQT MK · US LARGE CAP VAL10.04%$33M716.7K
3AMERICAN CENTY ETF TRUS SML CP VALU · INTL SMCP VLU9.10%$30M301.2K
4SCHWAB STRATEGIC TRFUNDAMENTAL EMER · FUNDAMENTAL US L · US DIVIDEND EQ6.32%$21M661.8K
5FIXCOMFORT SYS USA INChistory →COM3.89%$13M13.7K
6AAPLAPPLE INChistory →COM3.14%$10M38.0K
7SPDR SERIES TRUSTSTATE STREET SPD2.86%$9M207.9K
8SIMPLIFY EXCHANGE TRADED FUNMANAGED FUTURES2.28%$7M275.0K
9SPDR DOW JONES INDL AVERAGEUT SER 11.83%$6M12.5K
10VANGUARD WHITEHALL FDSINTL HIGH ETF1.27%$4M46.6K
11OKEONEOK INC NEWhistory →COM1.19%$4M53.2K
12INVESCO EXCHANGE TRADED FD TS&P500 EQL WGT1.10%$4M18.9K
13ALPS ETF TRALERIAN MLP1.08%$4M75.6K
14IAU*ISHARES GOLD TRhistory →ISHARES NEW1.04%$3M42.0K
15GQ9SPDR GOLD TRGOLD SHS0.99%$3M8.2K
16EPDENTERPRISE PRODS PARTNERS LCOM0.86%$3M88.1K
17MSFTMICROSOFT CORPCOM0.76%$2M5.2K
18VANGUARD INTL EQUITY INDEX FALLWRLD EX US0.74%$2M33.3K
19UPSUNITED PARCEL SERVICE INCCL B0.63%$2M21.0K
20WMTWALMART INCCOM0.58%$2M17.2K
21COPCONOCOPHILLIPSCOM0.58%$2M20.2K
22SPDR S&P 500 ETF TRTR UNIT0.57%$2M2.7K
23ABBVABBVIE INCCOM0.43%$1M6.2K
24IBMINTERNATIONAL BUSINESS MACHSCOM0.42%$1M4.7K
25WISDOMTREE TRBLMBG US BULL0.39%$1M49.3K
26PWRQUANTA SVCS INCCOM0.35%$1M2.7K
27TAT&T INCCOM0.34%$1M45.2K
28BACBANK AMERICA CORPCOM0.33%$1M19.8K
29CAMBRIA ETF TRSHSHLD YIELD ETF0.32%$1M14.9K
30BMYBRISTOL-MYERS SQUIBB COCOM0.31%$1M19.2K

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 ↗.