COWA, LLC
SEC Form 13F institutional filer · CIK 0001844480
13F-HR · 79 reported holdings · 2026-03-31
Reported long-US-equity value
$0.15B
Top-10 concentration
66.0%
COWA, LLC — $150M AUM allocation strategy
COWA, LLC files SEC Form 13F and reports $150M of long US equity value across 79 reported holdings for 2026-03-31.
Its largest sector bet is Financials 18.6%, followed by Industrials 13.5% and Information Technology 12.2%.
The top 10 holdings account for 66% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
COWA, LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$150M
total across 79 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
66% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$SCHW +20.3K sh · +$1.91M+$NVDA +12K sh · +$2.06M+$PFE +8.55K sh · +$280K
Biggest trims (shares)
−$IVV −15.7K sh · −$2.48M−$T −11.7K sh · −$152K−$VZ −5.12K sh · −$85.4K
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Investment Banking & Brokerage15.1%—
- Construction & Engineering12.1%—
- Technology Hardware, Storage & Peripherals9.2%—
- Oil & Gas Storage & Transportation3.6%—
- Asset Management & Custody Banks2.6%—
- Oil & Gas Exploration & Production1.8%—
- Semiconductors1.8%—
- Air Freight & Logistics1.5%—
- Other holdings52.4%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
7 of 7 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $SCHW | Charles Schwab Corporation | 682K | $22.7M | +20.3K | 15.2% |
| $FIX | Comfort Systems USA Inc | 12K | $16.6M | -1.7K | 11.1% |
| $AAPL | Apple Inc | 43.2K | $13.7M | +5.21K | 9.2% |
| $OKE | ONEOK Inc | 59.2K | $5.35M | +6.06K | 3.6% |
| $IVZ | Invesco Ltd | 20.4K | $3.91M | +1.46K | 2.6% |
| $COP | ConocoPhillips | 20.3K | $2.68M | +114 | 1.8% |
| $NVDA | NVIDIA Corporation | 15.1K | $2.63M | +12K | 1.8% |
…and 72 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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