Cetera Investment Advisers
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 41 quarters, returned +2.1% per quarter — versus +2.2% per quarter from simply owning every 13F stock. It beat that baseline in only 43.9% of quarters (excess t = 0.22, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 4863 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| IVV | $3.6B | | ADD +12% |
| AAPL | $2.1B | | ADD +4% |
| NVDA | $2.0B | | ADD +3% |
| VTV | $1.7B | | ADD +3% |
| QQQ | $1.7B | | HOLD |
| AGG | $1.5B | | HOLD |
| VOO | $1.5B | | ADD +11% |
| SPY | $1.4B | | ADD +3% |
| VTI | $1.3B | | ADD +4% |
| VUG | $1.3B | | ADD +6% |
| VONG | $1.2B | | HOLD |
| MSFT | $1.1B | | ADD +6% |
| IEFA | $1.1B | | HOLD |
| AMZN | $1.1B | | ADD +4% |
| CGDV | $901M | | HOLD |
| GOOGL | $813M | | ADD +5% |
| SCHD | $808M | | ADD +5% |
| IWF | $775M | | HOLD |
| QQQM | $723M | | ADD +8% |
| IVE | $696M | | TRIM −7% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.