CWM LLC
Q1 2026 Form 13-F
OMAHA, NEBRASKA
CIK 0001535847
· CRD 155344
· SEC-registered investment adviser
Consolidated report · includes
2 managers
since Q1 2019
$38.1B Reported Value Total
CWM, LLC reports 154,206 total accounts under management (AUM). There are 146,763 discretionary accounts valued at $49,464,325,511, and 7,443 non-discretionary accounts valued at $1,115,332,152.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-10-29
Reported value
$38.1B
Quarter over quarter
-1.7%
Holdings
5,638
Top-10 concentration
17.7%
Filing Structure
Reports holdings for
- Carson Group Investing LLC · File #028-21365 · since Q1 2019
- TrustBank · File #028-26149 · since Q4 2025 · declared by one filing
Holdings reported by
- Spectrum Management Group LLC (not a 13F filer in our records) · Q3 2020 – Q3 2020 · declared by one filing
Key People
Form ADV owners & control persons
Omani Rose Carson
OWNER
Mark Daniel Applegarth
CFO
John Thomas Boyle
SVP, RIA OPERATIONS
Filing Navigation
13F Metrics
Loading 13F Metrics
Q1 2026 13F record
Q1 2026 13F filing summary
| Period of report | March 31, 2026 |
|---|---|
| Filed | May 14, 2026 |
| Form | 13F-HR |
| Reported value | $38.1B |
| Positions | 5,638 |
| Change in reported value | +3.1% |
| New positions | 440 |
| Exited positions | 186 |
| Position turnover | 10.8% |
| Top-10 concentration | 17.7% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q1 2026 13F
Filed May 14, 2026
|
5,638 | $38.1B |
|
Q4 2025 13F
Filed Jan 26, 2026
|
5,148 | $36.9B |
|
Q3 2025 13F
Filed Oct 15, 2025
|
5,073 | $33.3B |
|
Q2 2025 13F
Filed Jul 25, 2025
|
4,952 | $28.4B |
|
Q1 2025 13F
Filed May 1, 2025
|
4,842 | $25.1B |
|
Q4 2024 13F
Filed Feb 4, 2025
|
4,636 | $24.1B |
|
Q3 2024 13F
Filed Oct 8, 2024
|
4,490 | $23.3B |
|
Q2 2024 13F
Filed Jul 10, 2024
|
4,286 | $21.2B |
|
Q1 2024 13F
Filed Apr 5, 2024
|
4,051 | $20.6B |
|
Q4 2023 13F
Filed Feb 1, 2024
|
3,870 | $18.6B |
|
Q3 2023 13F
Filed Oct 11, 2023
|
3,886 | $16.3B |
|
Q2 2023 13F
Filed Aug 3, 2023
|
3,866 | $16.2B |
|
Q1 2023 13F
Filed May 1, 2023
|
3,742 | $14.8B |
|
Q4 2022 13F
Filed Feb 1, 2023
|
3,662 | $13.6B |
|
Q3 2022 13F
Filed Oct 27, 2022
|
3,578 | $12.6B |
|
Q2 2022 13F
Filed Jul 28, 2022
|
3,456 | $12.9B |
|
Q1 2022 13F
Filed Apr 21, 2022
|
3,267 | $14.1B |
|
Q4 2021 13F
Filed Jan 31, 2022
|
3,218 | $14.2B |
|
Q2 2021 13F
Filed Jul 29, 2021
|
2,714 | $12.5B |
31 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q1 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | IVV ISHARES TR | $910.9M | 2.39% |
| 2 | SPYM SPDR SERIES TRUST | $861.5M | 2.26% |
| 3 | IUSB ISHARES TR | $813.7M | 2.14% |
| 4 | SPDW SPDR INDEX SHS FDS | $807.2M | 2.12% |
| 5 | AAPL APPLE INC | $693.1M | 1.82% |
| 6 | NVDA NVIDIA CORPORATION | $605.9M | 1.59% |
| 7 | IVE ISHARES TR | $542.0M | 1.42% |
| 8 | IVW ISHARES TR | $540.4M | 1.42% |
| 9 | CORO BLACKROCK ETF TRUST | $521.1M | 1.37% |
| 10 | DYNF BLACKROCK ETF TRUST | $455.6M | 1.2% |
| 11 | SPY STATE STR SPDR S&P 500 ETF T | $444.1M | 1.17% |
| 12 | MSFT MICROSOFT CORP | $439.2M | 1.15% |
| 13 | SPMO INVESCO EXCH TRADED FD TR II | $402.7M | 1.06% |
| 14 | SPTI SPDR SERIES TRUST | $368.2M | 0.97% |
| 15 | QUAL ISHARES TR | $362.4M | 0.95% |
| 16 | SPAB SPDR SERIES TRUST | $358.7M | 0.94% |
| 17 | BOND PIMCO ETF TR | $345.3M | 0.91% |
| 18 | AMZN AMAZON COM INC | $337.4M | 0.89% |
| 19 | LGLV SPDR SERIES TRUST | $317.7M | 0.83% |
| 20 | VUG VANGUARD INDEX FDS | $285.4M | 0.75% |
Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.