Envestnet Asset Management2026-Q2
ENVESTNET ASSET MANAGEMENT INC's 13F for the quarter ended June 30, 2026 lays out three months of heavy repositioning across a book that grew to 4822 disclosed holdings.
Quick Stats
| Ticker | Action | Value Change |
|---|---|---|
| IVV | Add | +$9.47B |
| XOM | Sold Out | a notable change |
| IALT | New Buy | $1.42B |
| EFV | Trim | -$1.96B |
| IVW | Trim | +$1.20B (genuine selling -- the dollar rise reflects price gains, not buying) |
IVV was the quarter's standout trade: an active add whose value grew by +$9.47B, lifting its portfolio weight from 5.76% to 7.32%. That makes it both the largest dollar move in the filing and the heaviest disclosed position of the quarter at 7.32% of the book. The rest of the filing carries the same hands-on tone, with the turnover ratio rising to 0.225594 from 0.206349 and the holding count climbing to 4822 from 4703.
The filing tags XOM as sold_out, meaning the entire stake -- last valued at $906.4M at the end of the prior quarter -- was liquidated during the period, taking its weight from 0.24% to 0.00%. The move landed in a quarter when the Energy sector's weight slid from 0.0496 to 0.0346. Because nothing remains, this was a full elimination rather than a scaling-down.
This is the easiest line in the filing to misread. Envestnet genuinely trimmed its IVW share count -- real selling -- yet the position's reported value still rose from $5.58B to $6.78B and its weight from 1.49% to 1.60%, because the price gain over the quarter outweighed the value of the shares sold. The same dynamic shows up in BAI, MTUM, XLK, and TSM, all recorded as trims whose dollar values climbed purely on price appreciation. None of these five lines involved any buying.
Two brand-new names entered the book: IALT, initiated at $1.42B for a 0.34% weight, and GGOV, started at $1.12B for 0.26%. They arrive alongside heavy churn in neighboring positions: IUSB grew by +$2.16B, while IAGG was cut hard, from 0.35% to 0.02%, and BINC slid from 0.38% to 0.17%. Read together, the quarter rebuilt this cluster of positions rather than abandoning it.
The sector numbers say yes: Information Technology rose from 0.2536 to 0.2971 of the book, the largest sector swing in the filing, while Financials eased from 0.1504 to 0.1399. Active trades line up with it: Envestnet added to NVDA (+$763.3M), AVGO, LRCX, MU, GOOGL, QQQ, and QQQM, and trimmed EFV from 1.19% to 0.58%, IVE from 1.57% to 1.25%, and QUAL from 0.91% to 0.39%. Keep the IVW-style caveat in mind here too -- XLK and TSM sit inside this cluster as genuine trims whose values rose only on price. Concentration edged up as well, with the HHI moving from 0.007868 to 0.009735.
Envestnet spent 2026-Q2 scaling up its core position in IVV, rotating out of several funds it trimmed outright, and opening fresh positions such as IALT and GGOV. With both turnover (0.225594) and concentration (an HHI of 0.009735) on the rise, the quarter reflects deliberate repositioning rather than passive drift -- though headline value swings like IVW's blend real selling with price gains. Treat the filing as a snapshot of positioning, not a playbook to copy.