CAPITAL MANAGEMENT ASSOCIATES INC

CRD 105010File 801-35808

APPROVED

Retail clients

Custody

Filing as of Mar 17, 2026

Feed vintage Aug 17, 2026

Regulatory AUM

$1.88B

Top 25% of cohort (national)

Discretionary AUM

$784.8M

Non-discretionary $1.09B

Clients

932

931 accounts

Employees

Top 25% of cohort in MN

Identity & registration

ADV Item 1

Organization form: Corporation
Firm type: Registered
SEC region: CHRO
Registration date: Jan 2, 1990
Principal office: 7900 XERXES AVE. S, STE 500, MINNEAPOLIS, MN, 55431-1120
Phone: 952-893-1200
Website: HTTP://WWW.TOMLUING.COM

Assets & accounts

ADV Item 5F

Total regulatory AUM: $1.88B
Discretionary AUM: $784.8M
Non-discretionary AUM: $1.09B
Discretionary accounts: 514
Non-discretionary accounts: 417
Total accounts: 931
AUM per client: $2.0M

Clients by type

ADV Item 5D

Client type	Clients	AUM
Other	6	$7.7M
Charitable organizations	8	$21.7M
High net worth individuals	317	$1.33B
Pension and profit sharing plans	41	$322.1M
Individuals (other than high net worth individuals)	560	$194.0M

Compensation & activities

ADV Items 5E, 5G

Compensation

Fixed fees
Hourly charges
A percentage of assets under your management

Advisory activities

Other advisory activities
Financial planning services
Selection of other advisers
Portfolio management for other
Portfolio management for businesses
Portfolio management for individuals and/or small businesses

Custody

ADV Item 9

Firm Custody Cash: No
Firm Custody Assets: Yes
Firm Custody Clients: No
Firm Custody Securities: No
Related Person Custody Cash: Yes
Related Person Custody Assets: No
Related Person Custody Clients: No
Related Person Custody Securities: No

Disclosure events

ADV Item 11

This firm answered no to every Item 11 disclosure question in this filing.

Filed changes

Date	Field	From	To
Aug 12, 2026	Registration	—	APPROVED

Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.