Nisa Investment Advisors, LLC
Reported US equity positions for Q1 2026 — $27.0B across 3,160 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| IVV iShares Core S&P 500 ETF | $10.5B | 38.9% | 16,114,884 |
| NVDA NVIDIA Corporation | $1.1B | 4.0% | 6,198,618 |
| AAPL Apple Inc. | $1.0B | 3.7% | 3,981,558 |
| MSFT Microsoft Corporation | $755.7M | 2.8% | 2,041,368 |
| GOOGL Alphabet Inc. | $476.4M | 1.8% | 1,656,712 |
| AMZN Amazon.com, Inc. | $399.3M | 1.5% | 1,917,394 |
| AVGO Broadcom Inc. | $398.8M | 1.5% | 1,288,638 |
| GOOG Alphabet Inc. - Class C Capital Stock | $387.9M | 1.4% | 1,352,204 |
| META Meta Platforms, Inc. | $330.2M | 1.2% | 577,153 |
| JPM JP Morgan Chase & Co. | $261.8M | 1.0% | 890,157 |
| TSLA Tesla, Inc. | $203.5M | 0.8% | 547,464 |
| LLY Eli Lilly and Company | $194.0M | 0.7% | 210,958 |
| XOM ExxonMobil Holdings Corporation | $182.1M | 0.7% | 1,073,169 |
| JNJ Johnson & Johnson | $155.2M | 0.6% | 634,796 |
| WMT Walmart Inc. | $148.2M | 0.5% | 1,190,025 |
| V Visa Inc. | $142.9M | 0.5% | 472,806 |
| MA Mastercard Incorporated | $127.4M | 0.5% | 255,036 |
| NFLX Netflix, Inc. | $126.1M | 0.5% | 1,311,772 |
| CAT Caterpillar, Inc. | $118.7M | 0.4% | 167,614 |
| COST Costco Wholesale Corporation | $112.7M | 0.4% | 113,082 |
| CVX Chevron Corporation | $109.9M | 0.4% | 531,128 |
| BRK.B Berkshire Hathaway Inc. | $108.4M | 0.4% | 226,136 |
| ABBV AbbVie Inc. | $104.3M | 0.4% | 479,659 |
| BAC Bank of America Corporation | $102.0M | 0.4% | 2,091,427 |
| CSCO Cisco Systems, Inc. | $97.6M | 0.4% | 1,258,293 |
| HD The Home Depot, Inc. | $95.9M | 0.4% | 291,730 |
| LRCX Lam Research Corporation | $90.2M | 0.3% | 421,509 |
| AMD Advanced Micro Devices, Inc. | $89.4M | 0.3% | 439,479 |
| IJH iShares Core S&P Mid-Cap ETF | $89.2M | 0.3% | 1,321,094 |
| MU Micron Technology, Inc. | $89.1M | 0.3% | 263,680 |
| AMAT Applied Materials, Inc. | $86.2M | 0.3% | 252,115 |
| ORCL Oracle Corporation | $84.2M | 0.3% | 572,349 |
| MRK Merck & Company, Inc. Common Stock (new) | $84.0M | 0.3% | 693,541 |
| PG The Procter & Gamble Company | $83.6M | 0.3% | 578,979 |
| QQQ Invesco QQQ Trust, Series 1 | $80.0M | 0.3% | 138,540 |
| MS Morgan Stanley | $75.8M | 0.3% | 460,362 |
| GS The Goldman Sachs Group, Inc. | $74.5M | 0.3% | 88,068 |
| KO The Coca-Cola Company | $74.4M | 0.3% | 971,088 |
| IEMG iShares Core MSCI Emerging Markets ETF | $72.5M | 0.3% | 1,039,693 |
| SUB iShares Short-Term National Muni Bond ETF | $72.4M | 0.3% | 679,490 |
| PM Philip Morris International Inc | $70.6M | 0.3% | 423,426 |
| RTX RTX Corporation | $69.7M | 0.3% | 361,309 |
| TJX The TJX Companies, Inc. | $68.8M | 0.3% | 430,747 |
| AXP American Express Company | $68.7M | 0.3% | 227,142 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $67.6M | 0.3% | 249,898 |
| TXN Texas Instruments Incorporated | $67.5M | 0.2% | 347,658 |
| MCD McDonald's Corporation | $65.4M | 0.2% | 210,489 |
| PLTR Palantir Technologies Inc. | $63.0M | 0.2% | 430,928 |
| APH Amphenol Corporation | $62.5M | 0.2% | 493,481 |
| ADI Analog Devices, Inc. | $62.2M | 0.2% | 195,665 |
| GE GE Aerospace | $61.2M | 0.2% | 215,387 |
| WFC Wells Fargo & Company | $60.2M | 0.2% | 755,765 |
| TMO Thermo Fisher Scientific Inc | $59.5M | 0.2% | 120,878 |
| AMGN Amgen Inc. | $58.5M | 0.2% | 166,150 |
| DE Deere & Company | $58.0M | 0.2% | 102,722 |
| PEP PepsiCo, Inc. | $57.6M | 0.2% | 370,682 |
| VEU Vanguard FTSE All World Ex US ETF | $54.7M | 0.2% | 729,000 |
| G54950103 Linde PLC | $54.7M | 0.2% | 110,378 |
| DIS The Walt Disney Company | $54.2M | 0.2% | 562,807 |
| UNP Union Pacific Corporation | $52.4M | 0.2% | 216,146 |
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 | Trim | $10.5B | $11.5B | -4% |
| NVDA NVIDIA Corporation | Trim | $1.1B | $1.2B | -6% |
| AAPL Apple Inc. | Trim | $1.0B | $1.2B | -7% |
| MSFT Microsoft Corporation | Trim | $755.7M | $1.0B | -4% |
| GOOGL Alphabet Inc. | Trim | $476.4M | $596.0M | -13% |
| AMZN Amazon.com, Inc. | Trim | $399.3M | $485.6M | -9% |
| AVGO Broadcom Inc. | Trim | $398.8M | $538.8M | -17% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $387.9M | $463.7M | -8% |
| META Meta Platforms, Inc. | Trim | $330.2M | $461.1M | -17% |
| JPM JP Morgan Chase & Co. | Trim | $261.8M | $368.4M | -22% |
| TSLA Tesla, Inc. | Trim | $203.5M | $263.1M | -6% |
| LLY Eli Lilly and Company | Trim | $194.0M | $242.7M | -7% |
| XOM ExxonMobil Holdings Corporation | Trim | $182.1M | $137.3M | -6% |
| JNJ Johnson & Johnson | Trim | $155.2M | $137.8M | -5% |
| WMT Walmart Inc. | Trim | $148.2M | $141.0M | -6% |
| V Visa Inc. | Trim | $142.9M | $169.9M | -2% |
| MA Mastercard Incorporated | Trim | $127.4M | $157.3M | -7% |
| NFLX Netflix, Inc. | Trim | $126.1M | $131.3M | -6% |
| CAT Caterpillar, Inc. | Trim | $118.7M | $102.7M | -6% |
| COST Costco Wholesale Corporation | Trim | $112.7M | $100.5M | -3% |
| CVX Chevron Corporation | Trim | $109.9M | $82.8M | -2% |
| BRK.B Berkshire Hathaway Inc. | Trim | $108.4M | $133.6M | -15% |
| ABBV AbbVie Inc. | Trim | $104.3M | $156.0M | -30% |
| BAC Bank of America Corporation | Trim | $102.0M | $159.8M | -28% |
| CSCO Cisco Systems, Inc. | Trim | $97.6M | $100.0M | -3% |
| HD The Home Depot, Inc. | Trim | $95.9M | $103.8M | -3% |
| LRCX Lam Research Corporation | Trim | $90.2M | $94.3M | -23% |
| AMD Advanced Micro Devices, Inc. | Trim | $89.4M | $95.9M | -2% |
| MU Micron Technology, Inc. | Trim | $89.1M | $148.3M | -49% |
| AMAT Applied Materials, Inc. | Trim | $86.2M | $67.0M | -3% |
| MRK Merck & Company, Inc. Common Stock (new) | Trim | $84.0M | $75.4M | -2% |
| PG The Procter & Gamble Company | Trim | $83.6M | $88.2M | -6% |
| MS Morgan Stanley | Trim | $75.8M | $94.2M | -13% |
| GS The Goldman Sachs Group, Inc. | Trim | $74.5M | $80.2M | -4% |
| KO The Coca-Cola Company | Trim | $74.4M | $71.5M | -5% |
| PM Philip Morris International Inc | Trim | $70.6M | $69.5M | -1% |
| RTX RTX Corporation | Trim | $69.7M | $70.5M | -6% |
| AXP American Express Company | Trim | $68.7M | $92.5M | -9% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Add | $67.6M | $81.2M | +2% |
| MCD McDonald's Corporation | Trim | $65.4M | $69.5M | -7% |
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 96% 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.