Cerity Partners LLC
Reported US equity positions for Q1 2026 — $70.5B across 7,376 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| VOO Vanguard S&P 500 ETF | $3.1B | 4.4% | 5,140,749 |
| AAPL Apple Inc. | $2.4B | 3.4% | 9,372,275 |
| NVDA NVIDIA Corporation | $2.3B | 3.2% | 13,024,694 |
| IVV iShares Core S&P 500 ETF | $1.7B | 2.5% | 2,661,628 |
| MSFT Microsoft Corporation | $1.5B | 2.2% | 4,102,747 |
| SPY State Street SPDR S&P 500 ETF Trust | $1.4B | 2.0% | 2,150,070 |
| VEA Vanguard FTSE Developed Markets ETF | $1.3B | 1.9% | 20,422,031 |
| AMZN Amazon.com, Inc. | $1.0B | 1.5% | 4,957,259 |
| IEFA iShares Core MSCI EAFE ETF | $1.0B | 1.5% | 11,358,893 |
| GOOGL Alphabet Inc. | $1.0B | 1.4% | 3,536,727 |
| GOOG Alphabet Inc. - Class C Capital Stock | $974.0M | 1.4% | 3,395,333 |
| AVGO Broadcom Inc. | $933.7M | 1.3% | 3,016,504 |
| PG The Procter & Gamble Company | $895.4M | 1.3% | 6,199,146 |
| AGG iShares Core U.S. Aggregate Bond ETF | $883.8M | 1.3% | 8,902,771 |
| QUAL iShares MSCI USA Quality Factor ETF | $767.3M | 1.1% | 4,000,492 |
| META Meta Platforms, Inc. | $688.0M | 1.0% | 1,202,181 |
| LLY Eli Lilly and Company | $673.8M | 1.0% | 732,549 |
| VTI Vanguard Morningstar Total Stock Market ETF | $637.0M | 0.9% | 1,984,206 |
| JPM JP Morgan Chase & Co. | $616.2M | 0.9% | 2,094,775 |
| SCHX Schwab U.S. Large-Cap ETF | $491.9M | 0.7% | 19,184,892 |
| IWF iShares Russell 1000 Growth Fund | $485.8M | 0.7% | 1,139,188 |
| QQQ Invesco QQQ Trust, Series 1 | $458.0M | 0.6% | 793,351 |
| RSP Invesco S&P 500 Equal Weight ETF | $457.0M | 0.6% | 2,381,435 |
| IDEV iShares Core MSCI International Developed Markets ETF | $456.2M | 0.6% | 5,458,824 |
| JNJ Johnson & Johnson | $451.4M | 0.6% | 1,846,524 |
| IJR iShares Core S&P Small-Cap ETF | $444.5M | 0.6% | 3,575,908 |
| IEMG iShares Core MSCI Emerging Markets ETF | $438.0M | 0.6% | 6,279,041 |
| COST Costco Wholesale Corporation | $432.1M | 0.6% | 433,645 |
| WMT Walmart Inc. | $389.7M | 0.6% | 3,135,477 |
| BRK.B Berkshire Hathaway Inc. | $387.5M | 0.5% | 808,578 |
| VO Vanguard Morningstar Mid-Cap ETF | $383.5M | 0.5% | 1,332,009 |
| IJH iShares Core S&P Mid-Cap ETF | $382.8M | 0.5% | 5,668,264 |
| XOM ExxonMobil Holdings Corporation | $371.7M | 0.5% | 2,191,719 |
| SGOV iShares 0-3 Month Treasury Bond ETF | $358.9M | 0.5% | 3,565,410 |
| V Visa Inc. | $346.6M | 0.5% | 1,146,777 |
| SPAB State Street SPDR Portfolio Aggregate Bond ETF | $325.4M | 0.5% | 12,700,878 |
| VTV Vanguard Morningstar Value ETF | $318.9M | 0.5% | 1,623,206 |
| VGSH Vanguard Short-Term Treasury ETF | $308.3M | 0.4% | 5,265,965 |
| VUG Vanguard Morningstar Growth ETF | $305.4M | 0.4% | 696,274 |
| IWB iShares Russell 1000 ETF | $285.3M | 0.4% | 800,125 |
| VGIT Vanguard Intermediate-Term Treasury ETF | $284.8M | 0.4% | 4,783,237 |
| MTUM iShares MSCI USA Momentum Factor ETF | $283.9M | 0.4% | 1,183,078 |
| IAU iShares Gold Trust Shares | $278.5M | 0.4% | 3,158,609 |
| AVEM Avantis Emerging Markets Equity ETF | $271.6M | 0.4% | 3,370,456 |
| VEU Vanguard FTSE All World Ex US ETF | $269.2M | 0.4% | 3,584,206 |
| BSV Vanguard Short-Term Bond ETF | $266.7M | 0.4% | 3,401,273 |
| ITOT iShares Core S&P Total U.S. Stock Market ETF | $265.6M | 0.4% | 1,864,476 |
| ABBV AbbVie Inc. | $264.3M | 0.4% | 1,215,422 |
| JPST JPMorgan Ultra-Short Income ETF | $262.5M | 0.4% | 5,186,873 |
| SCHP Schwab U.S. TIPS ETF | $260.7M | 0.4% | 9,796,222 |
| CVX Chevron Corporation | $258.9M | 0.4% | 1,251,179 |
| HD The Home Depot, Inc. | $255.7M | 0.4% | 777,287 |
| TJX The TJX Companies, Inc. | $252.4M | 0.4% | 1,580,717 |
| IQLT iShares MSCI Intl Quality Factor ETF | $241.2M | 0.3% | 5,216,459 |
| IEI iShares 3-7 Year Treasury Bond ETF | $233.5M | 0.3% | 1,968,957 |
| RTX RTX Corporation | $233.3M | 0.3% | 1,209,485 |
| AVLV Avantis U.S. Large Cap Value ETF | $228.1M | 0.3% | 2,829,736 |
| TSLA Tesla, Inc. | $228.0M | 0.3% | 612,977 |
| VWO Vanguard FTSE Emerging Markets ETF | $227.5M | 0.3% | 4,201,293 |
| VB Vanguard Morningstar Small-Cap ETF | $227.1M | 0.3% | 863,565 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| VOO Vanguard S&P 500 ETF | Add | $3.1B | $2.9B | +10% |
| AAPL Apple Inc. | Add | $2.4B | $2.5B | +3% |
| NVDA NVIDIA Corporation | Add | $2.3B | $2.3B | +3% |
| IVV iShares Core S&P 500 ETF | Add | $1.7B | $1.7B | +4% |
| MSFT Microsoft Corporation | Add | $1.5B | $1.8B | +8% |
| SPY State Street SPDR S&P 500 ETF Trust | Add | $1.4B | $1.4B | +4% |
| VEA Vanguard FTSE Developed Markets ETF | Add | $1.3B | $1.2B | +6% |
| AMZN Amazon.com, Inc. | Add | $1.0B | $1.1B | +5% |
| IEFA iShares Core MSCI EAFE ETF | Add | $1.0B | $1.0B | +1% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $974.0M | $1.1B | +1% |
| AVGO Broadcom Inc. | Add | $933.7M | $1.0B | +2% |
| PG The Procter & Gamble Company | Add | $895.4M | $876.7M | +1% |
| AGG iShares Core U.S. Aggregate Bond ETF | Add | $883.8M | $798.2M | +11% |
| QUAL iShares MSCI USA Quality Factor ETF | Add | $767.3M | $700.9M | +13% |
| META Meta Platforms, Inc. | Add | $688.0M | $721.0M | +10% |
| LLY Eli Lilly and Company | Add | $673.8M | $761.1M | +3% |
| VTI Vanguard Morningstar Total Stock Market ETF | Add | $637.0M | $629.0M | +6% |
| JPM JP Morgan Chase & Co. | Add | $616.2M | $660.8M | +2% |
| SCHX Schwab U.S. Large-Cap ETF | Add | $491.9M | $511.0M | +1% |
| IWF iShares Russell 1000 Growth Fund | Add | $485.8M | $456.4M | +18% |
| QQQ Invesco QQQ Trust, Series 1 | Add | $458.0M | $461.4M | +6% |
| RSP Invesco S&P 500 Equal Weight ETF | Add | $457.0M | $376.1M | +21% |
| IDEV iShares Core MSCI International Developed Markets ETF | Add | $456.2M | $286.8M | +57% |
| JNJ Johnson & Johnson | Add | $451.4M | $374.0M | +2% |
| IJR iShares Core S&P Small-Cap ETF | Trim | $444.5M | $439.7M | -2% |
| IEMG iShares Core MSCI Emerging Markets ETF | Add | $438.0M | $355.4M | +19% |
| COST Costco Wholesale Corporation | Add | $432.1M | $349.9M | +7% |
| WMT Walmart Inc. | Trim | $389.7M | $353.4M | -1% |
| BRK.B Berkshire Hathaway Inc. | Add | $387.5M | $393.1M | +3% |
| VO Vanguard Morningstar Mid-Cap ETF | Add | $383.5M | $324.7M | +19% |
| IJH iShares Core S&P Mid-Cap ETF | Add | $382.8M | $336.8M | +11% |
| XOM ExxonMobil Holdings Corporation | Add | $371.7M | $252.0M | +5% |
| SGOV iShares 0-3 Month Treasury Bond ETF | Trim | $358.9M | $395.8M | -10% |
| V Visa Inc. | Add | $346.6M | $397.4M | +1% |
| SPAB State Street SPDR Portfolio Aggregate Bond ETF | Add | $325.4M | $300.7M | +9% |
| VTV Vanguard Morningstar Value ETF | Add | $318.9M | $254.6M | +22% |
| VGSH Vanguard Short-Term Treasury ETF | Add | $308.3M | $283.7M | +9% |
| VUG Vanguard Morningstar Growth ETF | Add | $305.4M | $271.3M | +25% |
| IWB iShares Russell 1000 ETF | Add | $285.3M | $278.2M | +7% |
| VGIT Vanguard Intermediate-Term Treasury ETF | Add | $284.8M | $253.0M | +13% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.