CWA Asset Management Group, LLC

CIK 0001667134 · Q1 2026

13F Equity AUM

$2.9B

+6.1% QoQ

Positions

644

+2 QoQ

AUM Rank

#1,414

Top 11%

Skill Alpha (FF)

-0.4%/yr^ns

No Clear Edge

Rank #2,871 · Top 35%

vs S&P -4.4%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 18.1%Top 10: 25.5%Top 20: 37.4%

NVDA6.1%

AAPL5.1%

MSFT2.5%

SHY2.5%

GQ91.9%

AMZN1.7%

GOOG1.5%

SCEC1.4%

GOOGL1.4%

TPL1.4%

Others (634)74.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services30.0%

Technology22.2%

Energy9.9%

Industrials6.3%

Consumer Cyclical5.9%

Healthcare5.3%

Communication Services5.0%

Basic Materials4.4%

Other10.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 644Median: 0.05%Avg: 0.16%

0–0.5%

606(50.0%)

0.5–1%

18(12.7%)

1–3%

18(26.2%)

3–5%

0(0.0%)

5%+

2(11.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 635Unique: 9vs 20 funds

8.7%Low

644

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

11.9%

BANK OF AMERICA CORP /DE/

12.7%

12.2%

14%

18.5%

13.7%

GEODE CAPITAL MANAGEMENT, LLC

12.9%

VANGUARD CAPITAL MANAGEMENT LLC

13.1%

VANGUARD PORTFOLIO MANAGEMENT LLC

14.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New81Increased306Decreased217Exited80

New Positions

TPL1.4%

+84K

RIG1.2%

+5.2M

TS1.1%

+554K

SEB0.7%

+4K

URC0.5%

+4.0M

CNR0.4%

+105K

HUBB0.3%

+18K

OIH0.3%

+21K

MLB10.3%

+4K

COKE0.2%

+33K

Increased

CLB1.0%

+1.1M(+180%)

NE-WTA1.2%

+545K(+333%)

GRNT0.2%

+429K(+120%)

MSB0.5%

+219K(+96%)

GROW0.1%

+208K(+49%)

GLRE0.7%

+181K(+19%)

EPM0.1%

+162K(+30%)

EC0.1%

+150K(+151%)

AQN0.1%

+121K(+24%)

SND0.0%

+116K(+150%)

Decreased

GROY0.3%

-1,089,426(-28%)

OLA1.3%

-1,072,170(-32%)

OR0.1%

-346,781(-85%)

MO0.5%

-139,117(-39%)

FNV0.2%

-134,059(-87%)

ORLY0.1%

-103,972(-85%)

SLV0.0%

-98,852(-88%)

FCN0.3%

-97,029(-63%)

CRBG0.1%

-81,040(-52%)

BAC0.0%

-73,110(-80%)

Exited

-84,610

-66,139

-33,736

-23,583

-52,637

-114,145

-8,874

-85,104

-19,813

-41,508

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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