CAPITAL MANAGEMENT ASSOCIATES, INC

PrivateCIK: 2008851

Location

MINNEAPOLIS, MN

151

Positions

$442.30M

Total AUM (reported)

4.86M

Total Shares

Allocation by class

COM$78.11M17.7%

TR UNIT$67.45M15.2%

US BRD MKT ETF$44.82M10.1%

S&P 500 ETF SHS$40.52M9.2%

UNIT SER 1$22.90M5.2%

PHYSCL SILVR SHS$19.55M4.4%

0-5 HIGH YIELD$15.11M3.4%

Portfolio Concentration

Top 3$152.78M34.5%

4–10$107.58M24.3%

11–25$79.56M18.0%

Rest$102.37M23.1%

Top 3 weight

34.5%

Top 10 weight

58.9%

Voting Authority Distribution

Total shares with voting rights: 4.86M

Sole

Full voting authority

4.66M

% of voting shares95.7%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

206.72K

% of voting shares4.3%

Investment Discretion (by position count)

Sole143

Shared0

Other8

Dominant voting typeSole · 95.7% of voting shares

Institutional Holdings151

Rows:

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares103.71K

TypeSH

Market value$67.45M

15.25%

Sole

102.50K

Shared

0.00

None

1.21K

SCHWAB STRATEGIC TR

SOLE

US BRD MKT ETF

Shares1.79M

TypeSH

Market value$44.82M

10.13%

Sole

1.79M

Shared

0.00

None

0.00

VANGUARD INDEX FDS

SOLE

S&P 500 ETF SHS

Shares67.81K

TypeSH

Market value$40.52M

9.16%

Sole

67.81K

Shared

0.00

None

0.00

INVESCO QQQ TR

SOLE

UNIT SER 1

Shares39.67K

TypeSH

Market value$22.90M

5.18%

Sole

39.02K

Shared

0.00

None

645.00

ABRDN SILVER ETF TRUST

SOLE

PHYSCL SILVR SHS

Shares273.02K

TypeSH

Market value$19.55M

4.42%

Sole

273.02K

Shared

0.00

None

0.00

PIMCO ETF TR

SOLE

0-5 HIGH YIELD

Shares162.05K

TypeSH

Market value$15.11M

3.42%

Sole

162.05K

Shared

0.00

None

0.00

APPLE INC

OTR

COM

Shares54.75K

TypeSH

Market value$13.89M

3.14%

Sole

54.23K

Shared

0.00

None

515.00

STATE STR SPDR DOW JONES IND

SOLE

UT SER 1

Shares29.01K

TypeSH

Market value$13.44M

3.04%

Sole

28.61K

Shared

0.00

None

400.00

ETFS GOLD TR

SOLE

PHYSCL GOLD SHS

Shares262.53K

TypeSH

Market value$11.71M

2.65%

Sole

262.53K

Shared

0.00

None

0.00

VANGUARD INDEX FDS

SOLE

SMALL CP ETF

Shares41.90K

TypeSH

Market value$10.98M

2.48%

Sole

41.90K

Shared

0.00

None

0.00

CAPITAL GROUP CORE BALANCED

SOLE

SHS

Shares299.36K

TypeSH

Market value$10.30M

2.33%

Sole

258.85K

Shared

0.00

None

40.51K

VANGUARD INDEX FDS

SOLE

SML CP GRW ETF

Shares31.42K

TypeSH

Market value$9.50M

2.15%

Sole

31.42K

Shared

0.00

None

0.00

VANGUARD INDEX FDS

SOLE

GROWTH ETF

Shares16.46K

TypeSH

Market value$7.19M

1.63%

Sole

16.46K

Shared

0.00

None

0.00

VANGUARD INDEX FDS

SOLE

MID CAP ETF

Shares19.77K

TypeSH

Market value$5.68M

1.28%

Sole

19.77K

Shared

0.00

None

0.00

ISHARES TR

SOLE

CORE US AGGBD ET

Shares52.37K

TypeSH

Market value$5.20M

1.18%

Sole

11.88K

Shared

0.00

None

40.49K

PIMCO ETF TR

SOLE

ENHAN SHRT MA AC

Shares51.40K

TypeSH

Market value$5.17M

1.17%

Sole

51.40K

Shared

0.00

None

0.00

CATERPILLAR INC

SOLE

COM

Shares7.23K

TypeSH

Market value$5.13M

1.16%

Sole

7.22K

Shared

0.00

None

10.00

XCEL ENERGY INC

OTR

COM

Shares64K

TypeSH

Market value$5.08M

1.15%

Sole

22.84K

Shared

0.00

None

41.15K

GENERAL MILLS INC

SOLE

COM

Shares130.52K

TypeSH

Market value$4.86M

1.10%

Sole

130.52K

Shared

0.00

None

0.00

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares9.73K

TypeSH

Market value$4.66M

1.05%

Sole

9.48K

Shared

0.00

None

250.00

MICROSOFT CORP

SOLE

COM

Shares10.31K

TypeSH

Market value$3.82M

0.86%

Sole

10.24K

Shared

0.00

None

70.00

STRATEGIC TRUST

SOLE

RUNNING GWTH ETF

Shares114.30K

TypeSH

Market value$3.68M

0.83%

Sole

111.46K

Shared

0.00

None

2.84K

CAPITAL GROUP CORE EQUITY ET

SOLE

SHS CREATION UNI

Shares93.67K

TypeSH

Market value$3.60M

0.81%

Sole

93.67K

Shared

0.00

None

0.00

ORACLE CORP

SOLE

COM

Shares20.28K

TypeSH

Market value$2.98M

0.67%

Sole

20.28K

Shared

0.00

None

0.00

JOHNSON & JOHNSON

SOLE

COM

Shares11.12K

TypeSH

Market value$2.72M

0.61%

Sole

11.02K

Shared

0.00

None

100.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	103.71K	SH	$67.45M 15.25%	102.50K	1.21K
SCHWAB STRATEGIC TRSOLE	US BRD MKT ETF	1.79M	SH	$44.82M 10.13%	1.79M	0.00
VANGUARD INDEX FDSSOLE	S&P 500 ETF SHS	67.81K	SH	$40.52M 9.16%	67.81K	0.00
INVESCO QQQ TRSOLE	UNIT SER 1	39.67K	SH	$22.90M 5.18%	39.02K	645.00
ABRDN SILVER ETF TRUSTSOLE	PHYSCL SILVR SHS	273.02K	SH	$19.55M 4.42%	273.02K	0.00
PIMCO ETF TRSOLE	0-5 HIGH YIELD	162.05K	SH	$15.11M 3.42%	162.05K	0.00
APPLE INCOTR	COM	54.75K	SH	$13.89M 3.14%	54.23K	515.00
STATE STR SPDR DOW JONES INDSOLE	UT SER 1	29.01K	SH	$13.44M 3.04%	28.61K	400.00
ETFS GOLD TRSOLE	PHYSCL GOLD SHS	262.53K	SH	$11.71M 2.65%	262.53K	0.00
VANGUARD INDEX FDSSOLE	SMALL CP ETF	41.90K	SH	$10.98M 2.48%	41.90K	0.00
CAPITAL GROUP CORE BALANCEDSOLE	SHS	299.36K	SH	$10.30M 2.33%	258.85K	40.51K
VANGUARD INDEX FDSSOLE	SML CP GRW ETF	31.42K	SH	$9.50M 2.15%	31.42K	0.00
VANGUARD INDEX FDSSOLE	GROWTH ETF	16.46K	SH	$7.19M 1.63%	16.46K	0.00
VANGUARD INDEX FDSSOLE	MID CAP ETF	19.77K	SH	$5.68M 1.28%	19.77K	0.00
ISHARES TRSOLE	CORE US AGGBD ET	52.37K	SH	$5.20M 1.18%	11.88K	40.49K
PIMCO ETF TRSOLE	ENHAN SHRT MA AC	51.40K	SH	$5.17M 1.17%	51.40K	0.00
CATERPILLAR INCSOLE	COM	7.23K	SH	$5.13M 1.16%	7.22K	10.00
XCEL ENERGY INCOTR	COM	64K	SH	$5.08M 1.15%	22.84K	41.15K
GENERAL MILLS INCSOLE	COM	130.52K	SH	$4.86M 1.10%	130.52K	0.00
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	9.73K	SH	$4.66M 1.05%	9.48K	250.00
MICROSOFT CORPSOLE	COM	10.31K	SH	$3.82M 0.86%	10.24K	70.00
STRATEGIC TRUSTSOLE	RUNNING GWTH ETF	114.30K	SH	$3.68M 0.83%	111.46K	2.84K
CAPITAL GROUP CORE EQUITY ETSOLE	SHS CREATION UNI	93.67K	SH	$3.60M 0.81%	93.67K	0.00
ORACLE CORPSOLE	COM	20.28K	SH	$2.98M 0.67%	20.28K	0.00
JOHNSON & JOHNSONSOLE	COM	11.12K	SH	$2.72M 0.61%	11.02K	100.00

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