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Livermore
Livermore
ZHEN

CWA Asset Management Group, LLC

SEC CIK
0001667134
Latest filing
Jul 14, 2026

The latest 13F from CWA Asset Management Group, LLC covers Q2 2026 (filed Jul 14, 2026): 693 long positions worth $3.25B. The top 10 holdings make up 26.5% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 6.1%. Livermore has 21 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
98
Est. +$130.2M
Added
352
Est. +$278.9M
Reduced
206
Est. −$176.7M
Sold out
49
Est. −$70.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    6.1%$200.0MHistory
  2. AAPLApple Inc.
    5.1%$167.6MHistory
  3. MSFTMicrosoft Corp
    2.4%$77.1MHistory
  4. iShares Tr464287457
    2.1%$69.3M
  5. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    2.0%$66.5M

Share of portfolio

Top 5 holdings and the other 688 positions, by share of portfolio value

  1. NVDA6.1%
  2. AAPL5.1%
  3. MSFT2.4%
  4. iShares Tr2.1%
  5. Vanguard Intermediate-Term Corporate Bond ETF2.0%
  6. Other 688 positions82.2%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$27.0MAdded
  2. TSTenaris SA
    +$26.7MAddedHistory
  3. ERIEErie Indemnity Co
    +$21.8MNewHistory
  4. TPLTexas Pacific Land Corp
    +$18.9MAddedHistory
  5. Capitol Ser Tr14064D444
    +$17.7MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +0.69 pp1.4% → 2.0%
  2. TSTenaris SA
    +0.67 pp1.0% → 1.7%History
  3. ERIEErie Indemnity Co
    +0.67 pp0.0% → 0.7%History
  4. WPMWheaton Precious Metals Corp.
    +0.41 pp<0.1% → 0.4%History
  5. Capitol Ser Tr14064D444
    +0.39 pp1.4% → 1.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GLDSPDR Gold Trust
    −$14.9MReducedHistory
  2. Orla MNG Ltd New68634K106
    −$11.9MReduced
  3. UROYUranium Royalty Corp.
    −$11.1MReducedHistory
  4. CNRCore Natural Resources, Inc.
    −$11.0MSold outHistory
  5. GLREGreenlight Capital Re, Ltd.
    −$10.1MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Orla MNG Ltd New68634K106
    −0.94 pp1.3% → 0.3%
  2. GLDSPDR Gold Trust
    −0.91 pp1.9% → 1.0%History
  3. UROYUranium Royalty Corp.
    −0.50 pp0.5% → <0.1%History
  4. GLREGreenlight Capital Re, Ltd.
    −0.42 pp0.7% → 0.3%History
  5. HIIHuntington Ingalls Industries, Inc.
    −0.39 pp0.4% → <0.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.25B
+$337.2M (+11.6%) vs. prior quarter
Positions
693
+49 vs. prior quarter
Top 10 concentration
26.5%
Top 10 as share of value
Turnover
8.0%
Q2 2026, one quarter
Average holding period
6.7 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

21 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.25B (Q2 2026)

Q1 2021: $1.10BQ2 2021: $1.23BQ3 2021: $1.26BQ4 2021: $1.35BQ1 2022: $1.31BQ2 2022: $1.07BQ3 2022: $1.04BQ4 2022: $1.23BQ1 2023: $1.35BQ2 2023: $1.45BQ3 2023: $1.35BQ4 2023: $1.46BQ1 2024: $1.65BQ3 2024: $1.88BQ4 2024: $1.98BQ1 2025: $2.09BQ2 2025: $2.37BQ3 2025: $2.70BQ4 2025: $2.77BQ1 2026: $2.92BQ2 2026: $3.25B
Q1 2021Q2 2026
13F filings of CWA Asset Management Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 14, 2026693$3.25BNVDAAAPLMSFTvs. Q1 2026SEC
Q1 2026Apr 20, 2026644$2.92BNVDAAAPLMSFTvs. Q4 2025SEC
Q4 2025Jan 7, 2026642$2.77BNVDAAAPLMSFTvs. Q3 2025SEC
Q3 2025Oct 22, 2025660$2.70BNVDAAAPLMSFTvs. Q2 2025SEC
Q2 2025Jul 17, 2025637$2.37BNVDAAAPLMSFTvs. Q1 2025SEC
Q1 2025Apr 21, 2025596$2.09BAAPLNVDAMSFTvs. Q4 2024SEC
Q4 2024Jan 6, 2025559$1.98BNVDAAAPLMSFTvs. Q3 2024SEC
Q3 2024Nov 1, 2024567$1.88BNVDAAAPLMSFT–SEC
Q1 2024May 13, 2024532$1.65BNVDAAAPLMSFTvs. Q4 2023SEC
Q4 2023Feb 13, 2024415$1.46BAAPLState Street SPDR Bloomberg 1-3 Month T-Bill ETFMSFTvs. Q3 2023SEC
Q3 2023Nov 14, 2023355$1.35BState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLFNVvs. Q2 2023SEC
Q2 2023Jul 27, 2023356$1.45BState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLFNVvs. Q1 2023SEC
Q1 2023Apr 17, 2023320$1.35BState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLFNVvs. Q4 2022SEC
Q4 2022Jan 9, 2023317$1.23BState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLVanguard Intermediate-Term Corporate Bond ETFvs. Q3 2022SEC
Q3 2022Nov 9, 2022301$1.04BFCNState Street SPDR Bloomberg 1-3 Month T-Bill ETFAAPLvs. Q2 2022SEC
Q2 2022Jul 21, 2022300$1.07BFCNAAPLFirst Tr Exch Traded FD IIIvs. Q1 2022SEC
Q1 2022Apr 21, 2022295$1.31BAAPLFirst Tr Exch Traded FD IIIFNVvs. Q4 2021SEC
Q4 2021Feb 15, 2022301$1.35BAAPLFirst Tr Exch Traded FD IIIMSFTvs. Q3 2021SEC
Q3 2021Nov 12, 2021276$1.26BFirst Tr Exch Traded FD IIIAAPLMSFTvs. Q2 2021SEC
Q2 2021Aug 3, 2021270$1.23BFirst Tr Exch Traded FD IIIAAPLMSFTvs. Q1 2021SEC
Q1 2021May 17, 2021272$1.10BAAPLMSFTAMZN–SEC