How many subsidiaries does CDW Corp file with the SEC?

8, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Illinois, Wisconsin, United Kingdom. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is CDW Corp financially healthy?

CDW Corp scores 5 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of CDW Corp?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), STATE STREET CORP (adding), MORGAN STANLEY (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

CDW Corp (CDW)

Nasdaq · Common Stock · Retail-Catalog & Mail-Order Houses

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

8 entities across 5 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-20 — see the exhibit.

Which other public companies file entities in the same places:

Illinois4 Wisconsin1 United Kingdom1 Delaware1 Texas1

Subsidiaries of CDW Corp as disclosed in its SEC filing
Entity	Jurisdiction	Note
CDW LLC	Illinois
CDW Technologies LLC	Wisconsin
CDW Direct, LLC	Illinois
CDW Government LLC	Illinois
CDW Logistics LLC	Illinois
CDW International Holdings Limited	United Kingdom
SCS Holdings I, LLC	Delaware
Sirius Computer Solutions, LLC	Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 9

PASSReturn on assets positiveROA 6.7%
PASSOperating cash flow positiveOCF 1.2B
FAILReturn on assets improving7.3% → 6.7%
PASSCash flow exceeds earningsOCF 1.2B vs NI 1.1B
PASSLong-term debt ratio falling38.2% → 28.8% of assets
FAILCurrent ratio improving1.35 → 1.18
PASSNo share dilution135M → 132M shares
FAILGross margin improving21.9% → 21.7%
FAILAsset turnover improving1.43× → 1.40×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$18.5B	$788.5M	$1.2B	17.4%	144,800,000
FY2021	$20.8B	$988.6M	$684.6M	17.1%	140,500,000
FY2022	$23.7B	$1.1B	$1.2B	19.7%	137,000,000
FY2023	$21.4B	$1.1B	$1.5B	21.8%	136,300,000
FY2024	$21.0B	$1.1B	$1.2B	21.9%	135,200,000
FY2025

Ownership flow

14 institutions tracked — 10 added, 3 reduced, 1 opened a new position.

Institutional holders of CDW Corp and their share-count change
Manager	Kind	Shares	Change	Value
CITADEL ADVISORS LLC	Hedge fund	655,804	−1,032,934	$92.2M
Point72 Asset Management, L.P.	Hedge fund	1,057,844	+1,011,855	$148.8M
MORGAN STANLEY	Active fund	3,572,175	+575,529	$502.4M
BANK OF AMERICA CORP /DE/	Active fund	1,813,551	+554,347	$255.1M

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $201.0M
2025Q1: $200.1M
2024Q1: $52.1M
2023Q1: $200.0M
2022Q1: $0
2021Q1: $358.4M

Identity

CIK: 0001402057
FIGI: BBG001P63B80
SIC: 5961 · Retail-Catalog & Mail-Order Houses
Incorporated: DE
Headquarters: VERNON HILLS, IL

Ownership

Institutional: 112.9%
Institutions: 1,094
Insiders: 0.5%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Questions about CDW Corp

How many subsidiaries does CDW Corp file with the SEC?: 8, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Illinois, Wisconsin, United Kingdom. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is CDW Corp financially healthy?: CDW Corp scores 5 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of CDW Corp?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), STATE STREET CORP (adding), MORGAN STANLEY (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.