Cetera Investment Advisers
Reported US equity positions for Q1 2026 — $94.0B across 4,674 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| IVV iShares Core S&P 500 ETF | $2.8B | 3.0% | 4,260,894 |
| AAPL Apple Inc. | $1.8B | 1.9% | 7,051,511 |
| NVDA NVIDIA Corporation | $1.7B | 1.8% | 9,618,546 |
| VTV Vanguard Morningstar Value ETF | $1.5B | 1.6% | 7,740,408 |
| AGG iShares Core U.S. Aggregate Bond ETF | $1.5B | 1.6% | 15,252,353 |
| QQQ Invesco QQQ Trust, Series 1 | $1.3B | 1.4% | 2,262,665 |
| VOO Vanguard S&P 500 ETF | $1.2B | 1.3% | 2,000,963 |
| SPY State Street SPDR S&P 500 ETF Trust | $1.2B | 1.3% | 1,811,359 |
| VTI Vanguard Morningstar Total Stock Market ETF | $1.1B | 1.1% | 3,364,602 |
| MSFT Microsoft Corporation | $1.1B | 1.1% | 2,878,640 |
| VONG Vanguard Russell 1000 Growth ETF | $1.0B | 1.1% | 9,492,332 |
| IEFA iShares Core MSCI EAFE ETF | $1.0B | 1.1% | 11,479,180 |
| VUG Vanguard Morningstar Growth ETF | $1.0B | 1.1% | 2,298,549 |
| AMZN Amazon.com, Inc. | $930.9M | 1.0% | 4,469,661 |
| CGDV Capital Group Dividend Value ETF | $781.0M | 0.8% | 18,359,294 |
| SCHD Schwab US Dividend Equity ETF | $742.0M | 0.8% | 24,184,523 |
| IVE iShares S&P 500 Value ETF | $695.8M | 0.7% | 3,295,130 |
| IWF iShares Russell 1000 Growth Fund | $669.2M | 0.7% | 1,569,465 |
| GOOGL Alphabet Inc. | $624.3M | 0.7% | 2,170,893 |
| IEMG iShares Core MSCI Emerging Markets ETF | $611.4M | 0.7% | 8,765,443 |
| BND Vanguard Total Bond Market ETF | $561.6M | 0.6% | 7,625,939 |
| IVW iShares S&P 500 Growth ETF | $537.8M | 0.6% | 4,754,617 |
| QQQM Invesco NASDAQ 100 ETF | $526.8M | 0.6% | 2,217,040 |
| SCHG Schwab U.S. Large-Cap Growth ETF | $523.0M | 0.6% | 17,955,640 |
| VXUS Vanguard Total International Stock ETF | $509.7M | 0.5% | 6,609,737 |
| VEA Vanguard FTSE Developed Markets ETF | $497.4M | 0.5% | 7,762,066 |
| AVGO Broadcom Inc. | $486.5M | 0.5% | 1,571,853 |
| BRK.B Berkshire Hathaway Inc. | $467.3M | 0.5% | 975,250 |
| IUSB iShares Core Universal USD Bond ETF | $463.9M | 0.5% | 10,043,013 |
| BUFR FT Vest Laddered Buffer ETF | $454.5M | 0.5% | 13,458,771 |
| GOOG Alphabet Inc. - Class C Capital Stock | $437.6M | 0.5% | 1,525,538 |
| IWM iShares Russell 2000 Index Fund | $436.1M | 0.5% | 1,758,333 |
| META Meta Platforms, Inc. | $435.6M | 0.5% | 761,399 |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | $433.4M | 0.5% | 7,448,937 |
| JPM JP Morgan Chase & Co. | $417.1M | 0.4% | 1,417,978 |
| XOM ExxonMobil Holdings Corporation | $404.0M | 0.4% | 2,381,079 |
| VYM Vanguard High Dividend Yield ETF | $399.9M | 0.4% | 2,699,936 |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | $398.5M | 0.4% | 4,348,951 |
| VO Vanguard Morningstar Mid-Cap ETF | $397.7M | 0.4% | 1,384,756 |
| CGGR Capital Group Growth ETF | $393.9M | 0.4% | 9,800,927 |
| PVAL Putnam Focused Large Cap Value ETF | $386.8M | 0.4% | 8,337,155 |
| SPYM State Street SPDR Portfolio S&P 500 ETF | $372.2M | 0.4% | 4,862,925 |
| GLD SPDR Gold Shares | $366.6M | 0.4% | 852,019 |
| IJR iShares Core S&P Small-Cap ETF | $359.2M | 0.4% | 2,889,255 |
| TSLA Tesla, Inc. | $356.7M | 0.4% | 959,446 |
| COWZ Pacer US Cash Cows 100 ETF | $351.1M | 0.4% | 5,612,900 |
| WMT Walmart Inc. | $349.9M | 0.4% | 2,815,570 |
| JEPI JPMorgan Equity Premium Income ETF | $344.8M | 0.4% | 6,083,774 |
| MUB iShares National Muni Bond ETF | $340.8M | 0.4% | 3,210,936 |
| VB Vanguard Morningstar Small-Cap ETF | $322.4M | 0.3% | 1,230,968 |
| LLY Eli Lilly and Company | $318.2M | 0.3% | 345,970 |
| SDVY First Trust SMID Cap Rising Dividend Achievers ETF | $313.2M | 0.3% | 7,943,362 |
| FBND Fidelity Total Bond ETF | $310.3M | 0.3% | 6,801,133 |
| QUAL iShares MSCI USA Quality Factor ETF | $301.9M | 0.3% | 1,574,045 |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | $301.4M | 0.3% | 3,077,881 |
| EFV iShares MSCI EAFE Value ETF | $291.1M | 0.3% | 3,915,091 |
| JAAA Janus Henderson AAA CLO ETF | $279.7M | 0.3% | 5,552,525 |
| CGGO Capital Group Global Growth Equity ETF | $276.9M | 0.3% | 8,296,479 |
| RDVY First Trust Rising Dividend Achievers ETF | $276.1M | 0.3% | 4,044,145 |
| BNDX Vanguard Total International Bond ETF | $271.3M | 0.3% | 5,646,589 |
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 |
|---|---|---|---|---|
| IVV iShares Core S&P 500 ETF | Add | $2.8B | $2.8B | +5% |
| AAPL Apple Inc. | Add | $1.8B | $1.9B | +2% |
| VTV Vanguard Morningstar Value ETF | Add | $1.5B | $1.4B | +4% |
| AGG iShares Core U.S. Aggregate Bond ETF | Trim | $1.5B | $1.5B | -1% |
| QQQ Invesco QQQ Trust, Series 1 | Add | $1.3B | $1.4B | +2% |
| VOO Vanguard S&P 500 ETF | Add | $1.2B | $1.2B | +3% |
| SPY State Street SPDR S&P 500 ETF Trust | Trim | $1.2B | $1.2B | -1% |
| VTI Vanguard Morningstar Total Stock Market ETF | Add | $1.1B | $1.1B | +3% |
| MSFT Microsoft Corporation | Add | $1.1B | $1.3B | +5% |
| VONG Vanguard Russell 1000 Growth ETF | Trim | $1.0B | $1.2B | -7% |
| IEFA iShares Core MSCI EAFE ETF | Add | $1.0B | $962.5M | +7% |
| VUG Vanguard Morningstar Growth ETF | Add | $1.0B | $1.0B | +8% |
| AMZN Amazon.com, Inc. | Add | $930.9M | $999.2M | +3% |
| CGDV Capital Group Dividend Value ETF | Add | $781.0M | $715.7M | +12% |
| SCHD Schwab US Dividend Equity ETF | Trim | $742.0M | $949.2M | -30% |
| IVE iShares S&P 500 Value ETF | Trim | $695.8M | $723.2M | -3% |
| IEMG iShares Core MSCI Emerging Markets ETF | Trim | $611.4M | $629.1M | -6% |
| IVW iShares S&P 500 Growth ETF | Add | $537.8M | $555.8M | +5% |
| QQQM Invesco NASDAQ 100 ETF | Add | $526.8M | $530.4M | +6% |
| SCHG Schwab U.S. Large-Cap Growth ETF | Add | $523.0M | $553.2M | +6% |
| VXUS Vanguard Total International Stock ETF | Add | $509.7M | $493.3M | +1% |
| VEA Vanguard FTSE Developed Markets ETF | Add | $497.4M | $480.0M | +1% |
| AVGO Broadcom Inc. | Add | $486.5M | $517.7M | +5% |
| BRK.B Berkshire Hathaway Inc. | Add | $467.3M | $472.4M | +4% |
| IUSB iShares Core Universal USD Bond ETF | Add | $463.9M | $443.2M | +5% |
| BUFR FT Vest Laddered Buffer ETF | Add | $454.5M | $440.6M | +5% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $437.6M | $462.0M | +4% |
| IWM iShares Russell 2000 Index Fund | Add | $436.1M | $424.5M | +2% |
| META Meta Platforms, Inc. | Add | $435.6M | $491.0M | +2% |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | Trim | $433.4M | $475.1M | -5% |
| JPM JP Morgan Chase & Co. | Add | $417.1M | $448.9M | +2% |
| VYM Vanguard High Dividend Yield ETF | Add | $399.9M | $379.6M | +2% |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | Add | $398.5M | $261.5M | +52% |
| VO Vanguard Morningstar Mid-Cap ETF | Add | $397.7M | $371.2M | +8% |
| CGGR Capital Group Growth ETF | Add | $393.9M | $365.0M | +19% |
| PVAL Putnam Focused Large Cap Value ETF | Add | $386.8M | $312.3M | +22% |
| SPYM State Street SPDR Portfolio S&P 500 ETF | Add | $372.2M | $355.5M | +10% |
| GLD SPDR Gold Shares | Trim | $366.6M | $352.5M | -4% |
| IJR iShares Core S&P Small-Cap ETF | Add | $359.2M | $342.3M | +1% |
| TSLA Tesla, Inc. | Add | $356.7M | $416.0M | +4% |
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.