Capital Management Associates, Inc Q4 2025 Filing

Filed January 21, 2026

Portfolio Value

$452.3M

Holdings

156

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (156 positions)

#	Stock	Shares	Value	% Portfolio
1	SPYSPDR S&P 500 ETF TR	94,001	$64.1M	14.17%
2	SCHBSCHWAB STRATEGIC TR	1,779,549	$46.7M	10.32%
3	VOOVANGUARD INDEX FDS	64,592	$40.5M	8.96%
4	NDQINVESCO QQQ TR	39,600	$24.3M	5.38%
5	SIVRABRDN SILVER ETF TRUST	305,697	$20.7M	4.57%
6	AAPLAPPLE INC	54,798	$14.9M	3.29%
7	HYSPIMCO ETF TR	147,718	$14.0M	3.10%
8	DONSPDR DOW JONES INDL AVERAGE	26,277	$12.6M	2.79%
9	SGOLETFS GOLD TR	284,253	$11.7M	2.58%
10	GISGENERAL MLS INC	244,142	$11.4M	2.51%
11	VBVANGUARD INDEX FDS	41,414	$10.7M	2.36%
12	VBKVANGUARD INDEX FDS	31,850	$9.6M	2.13%
13	CGBLCAPITAL GROUP CORE BALANCED	270,608	$9.6M	2.11%
14	VUGVANGUARD INDEX FDS	15,627	$7.6M	1.69%
15	VOVANGUARD INDEX FDS	21,250	$6.2M	1.36%
16	AGGISHARES TR	56,679	$5.7M	1.25%
17	MSFTMICROSOFT CORP	9,883	$4.8M	1.06%
18	XELXCEL ENERGY INC	63,601	$4.7M	1.04%
19	BRK/BBERKSHIRE HATHAWAY INC DEL	8,886	$4.5M	0.99%
20	MINTPIMCO ETF TR	42,568	$4.3M	0.94%
21	CATCATERPILLAR INC	7,098	$4.1M	0.90%
22	ORCLORACLE CORP	19,932	$3.9M	0.86%
23	RUNNSTRATEGIC TRUST	115,819	$3.9M	0.85%
24	CGUSCAPITAL GROUP CORE EQUITY ET	93,670	$3.8M	0.83%
25	IVVISHARES TR	4,344	$3.0M	0.66%
26	MUBISHARES TR	25,387	$2.7M	0.60%
27	VGTVANGUARD WORLD FD	3,388	$2.6M	0.56%
28	AMZNAMAZON COM INC	10,202	$2.4M	0.52%
29	JNJJOHNSON & JOHNSON	11,306	$2.3M	0.52%
30	VNQVANGUARD INDEX FDS	25,687	$2.3M	0.50%
31	METAMETA PLATFORMS INC	3,395	$2.2M	0.50%
32	DEDEERE & CO	4,670	$2.2M	0.48%
33	IJHISHARES TR	32,559	$2.1M	0.47%
34	UNHUNITEDHEALTH GROUP INC	6,487	$2.1M	0.47%
35	MMM3M CO	13,308	$2.1M	0.47%
36	PSAPUBLIC STORAGE OPER CO	7,920	$2.1M	0.45%
37	VCRVANGUARD WORLD FD	5,156	$2.0M	0.45%
38	VHTVANGUARD WORLD FD	6,534	$1.9M	0.42%
39	VISVANGUARD WORLD FD	6,050	$1.8M	0.40%
40	VVVANGUARD INDEX FDS	5,581	$1.8M	0.39%
41	NVDANVIDIA CORPORATION	9,155	$1.7M	0.38%
42	CGDGCAPITAL GROUP DIVIDEND VALUE	38,324	$1.7M	0.37%
43	SCHXSCHWAB STRATEGIC TR	60,088	$1.6M	0.36%
44	GOOGALPHABET INC	4,831	$1.5M	0.33%
45	EMREMERSON ELEC CO	11,402	$1.5M	0.33%
46	BSXBOSTON SCIENTIFIC CORP	15,654	$1.5M	0.33%
47	VTVVANGUARD INDEX FDS	7,650	$1.5M	0.32%
48	ECLECOLAB INC	5,561	$1.5M	0.32%
49	MRKMERCK & CO INC	13,780	$1.4M	0.32%
50	GOOGLALPHABET INC	4,422	$1.4M	0.31%
51	NNNNNN REIT INC	34,707	$1.4M	0.30%
52	SCHZSCHWAB STRATEGIC TR	58,870	$1.4M	0.30%
53	VTIVANGUARD INDEX FDS	4,027	$1.4M	0.30%
54	GLDMWORLD GOLD TR	15,247	$1.3M	0.29%
55	DRIDARDEN RESTAURANTS INC	7,058	$1.3M	0.29%
56	CGGRCAPITAL GROUP GROWTH ETF	27,878	$1.2M	0.27%
57	VFHVANGUARD WORLD FD	9,241	$1.2M	0.27%
58	VEAVANGUARD TAX-MANAGED FDS	19,616	$1.2M	0.27%
59	RSPRINVESCO EXCHANGE TRADED FD T	36,125	$1.2M	0.27%
60	DALDELTA AIR LINES INC DEL	16,580	$1.1M	0.25%
61	IJRISHARES TR	9,495	$1.1M	0.25%
62	PLTRPALANTIR TECHNOLOGIES INC	6,231	$1.1M	0.24%
63	DGXQUEST DIAGNOSTICS INC	5,900	$1.0M	0.23%
64	SPMDSPDR SERIES TRUST	17,064	$988K	0.22%
65	VOTVANGUARD INDEX FDS	3,520	$982K	0.22%
66	MCDMCDONALDS CORP	3,175	$970K	0.21%
67	SPYGSPDR SERIES TRUST	9,032	$963K	0.21%
68	GGGGRACO INC	11,401	$934K	0.21%
69	VIGVANGUARD SPECIALIZED FUNDS	4,245	$932K	0.21%
70	JPMJPMORGAN CHASE & CO.	2,695	$868K	0.19%
71	CGCBCAPITAL GRP FIXED INCM ETF T	32,555	$863K	0.19%
72	ILCBISHARES TR	8,669	$818K	0.18%
73	SPTSSPDR SERIES TRUST	26,880	$787K	0.17%
74	KMBKIMBERLY-CLARK CORP	7,455	$752K	0.17%
75	VWOVANGUARD INTL EQUITY INDEX F	13,152	$707K	0.16%
76	EFAISHARES TR	7,334	$704K	0.16%
77	SCHDSCHWAB STRATEGIC TR	24,581	$674K	0.15%
78	AGFIRST MAJESTIC SILVER CORP	40,255	$670K	0.15%
79	AMATAPPLIED MATLS INC	2,744	$658K	0.15%
80	PGPROCTER AND GAMBLE CO	4,478	$645K	0.14%
81	USBUS BANCORP DEL	12,282	$643K	0.14%
82	GEGE AEROSPACE	2,052	$632K	0.14%
83	XLFISELECT SECTOR SPDR TR	7,896	$613K	0.14%
84	KLACKLA CORP	500	$607K	0.13%
85	MDLZMONDELEZ INTL INC	10,939	$588K	0.13%
86	IUSBISHARES TR	12,495	$581K	0.13%
87	MAMASTERCARD INCORPORATED	1,017	$580K	0.13%
88	MDTMEDTRONIC PLC	5,989	$575K	0.13%
89	WMWASTE MGMT INC DEL	2,519	$553K	0.12%
90	CGMUCAPITAL GRP FIXED INCM ETF T	20,191	$552K	0.12%
91	SCHASCHWAB STRATEGIC TR	18,846	$536K	0.12%
92	DFASDIMENSIONAL ETF TRUST	7,374	$513K	0.11%
93	FTECFIDELITY COVINGTON TRUST	2,260	$507K	0.11%
94	XLKSELECT SECTOR SPDR TR	3,488	$502K	0.11%
95	DUKDUKE ENERGY CORP NEW	4,215	$494K	0.11%
96	AQLTISHARES TR	5,309	$474K	0.10%
97	DYHTARGET CORP	4,754	$464K	0.10%
98	WMTWALMART INC	4,138	$460K	0.10%
99	LLYELI LILLY & CO	417	$448K	0.10%
100	TTCTORO CO	5,681	$447K	0.10%

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