CIK: 0001080107
Total reported value
$16.5B
Reporting period: 2026-03-31 · Number of holdings: 1567
D.A. DAVIDSON & CO. disclosed 1567 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $16.5B and a quarterly turnover rate of 11.4%.
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D.a. Davidson & Co.'s disclosed holdings carry a Herfindahl concentration index of 0.014 — mathematically equivalent to about 72 equally-sized positions, well below its 1567 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.52), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 44% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
+4.9% -$80.5M
Trim VUG
+2.1% -$74.0M
Trim AVGO
-2.3% -$32.0M
Add VTV
+0.8% $38.2M
Add AGG
+7.0% $30.4M
Trim AAPL
+1.8% -$20.2M
D.A. DAVIDSON & CO. is executing a defensive capital rotation: adding to value and fixed income while trimming high-beta growth, but the portfolio's extreme diversification and low turnover signal a systematic hedge rather than a high-conviction alpha pursuit.
The shift into VTV and AGG prices in a regime of economic deceleration and eventual Fed easing, betting that value and duration will outperform as growth leadership fades. The opposing thesis holds that AI-driven capex sustains growth stock momentum, making this positioning a drag in a soft-landing scenario.
The portfolio's extreme contrarian tilt (momentum/contrarian score: 100) is a consensus fade-the-trend bet that has been consistently punished in a market driven by trend-following models. Combined with 1,552 holdings and an HHI of 0.014, the strategy dilutes any factor edge into a closet index with limited alpha generation potential and outright factor reversal risk.
The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.
Showing top 200 holdings (of 1567 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VTV | Vanguard Value ETF | ETF-Other | 6.67% | +0.16% | +0.84% | |
| 2 | VUG | Vanguard Growth ETF | ETF-Other | 4.80% | -0.50% | +2.13% | |
| 3 | IXUS | Ishares Core Intl Stock ETF | ETF-Other | 4.08% | +0.01% | -1.08% | |
| 4 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 3.11% | +0.15% | +6.95% | |
| 5 | AAPL | Apple INC | Stock-Tech | 2.34% | -0.15% | +1.81% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 1.99% | -0.51% | +4.85% | |
| 7 | IWN | Ishares Russell 2000 Value E | ETF-Small Cap | 1.46% | +0.08% | +2.18% | |
| 8 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.39% | — | -1.60% | |
| 9 | AVGO | Broadcom INC | Stock-Tech | 1.34% | -0.21% | -2.32% | |
| 10 | SPIB | Ss Spdr P Int C CORP ETF | ETF-Other | 1.32% | +0.06% | +6.76% | |
| 11 | NVDA | Nvidia CORP | Stock-Tech | 1.14% | -0.10% | -0.18% | |
| 12 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.14% | +0.14% | +0.53% | |
| 13 | RTX | Rtx CORP | Stock-Industrials | 1.05% | — | -3.19% | |
| 14 | IWO | Ishares Russell 2000 Growth | ETF-Small Cap | 1.04% | — | +2.29% | |
| 15 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.98% | +0.07% | -7.11% | |
| 16 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.98% | -0.08% | +3.16% | |
| 17 | IWF | Ishares Russell 1000 Growth | ETF-Other | 0.98% | -0.07% | +4.55% | |
| 18 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.96% | -0.06% | +0.25% | |
| 19 | CGDV | Cap Group Dividend Value | ETF-Other | 0.94% | — | +2.78% | |
| 20 | CMI | Cummins INC | Stock-Industrials | 0.89% | -0.06% | -10.29% | |
| 21 | IJJ | Ishares S&p Mid-cap 400 Valu | ETF-Other | 0.88% | — | +3.62% | |
| 22 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.86% | — | +0.49% | |
| 23 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.79% | -0.06% | -2.04% | |
| 24 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.78% | +0.05% | +4.75% | |
| 25 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.76% | -0.09% | -1.10% | |
| 26 | IJK | Ishares S&p Mid-cap 400 Grow | ETF-Other | 0.75% | +0.04% | +2.79% | |
| 27 | CB | Chubb Limited | Stock-Financials | 0.72% | — | +0.28% | |
| 28 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.71% | -0.10% | -3.24% | |
| 29 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 0.70% | — | +0.98% | |
| 30 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.70% | — | +3.59% | |
| 31 | V | Visa Inc-class A Shares | Stock-Financials | 0.66% | -0.09% | +2.50% | |
| 32 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.65% | — | +5.37% | |
| 33 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.64% | -0.05% | -0.63% | |
| 34 | PRF | Invesco Rafi US 1000 ETF | ETF-Other | 0.61% | — | +2.60% | |
| 35 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.59% | -0.06% | +0.28% | |
| 36 | NEE | Nextera Energy INC | Stock-Utilities | 0.58% | +0.05% | -4.02% | |
| 37 | DFAX | Dimensional World Ex US Core | ETF-Other | 0.57% | — | -1.10% | |
| 38 | PFE | Pfizer INC | Stock-Healthcare | 0.54% | +0.07% | +2.91% | |
| 39 | ADP | Automatic Data Processing | Stock-Tech | 0.54% | -0.06% | +15.04% | |
| 40 | CVX | Chevron CORP | Stock-Energy | 0.52% | +0.13% | +0.07% | |
| 41 | AMGN | Amgen INC | Stock-Healthcare | 0.52% | — | -2.67% | |
| 42 | SPGI | S&p Global INC | Stock-Financials | 0.51% | -0.05% | +11.52% | |
| 43 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 0.50% | — | +6.09% | |
| 44 | PEP | Pepsico INC | Stock-Consumer Staples | 0.49% | +0.04% | +2.20% | |
| 45 | PLD | Prologis INC | Stock-Real Estate | 0.45% | — | -4.84% | |
| 46 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 0.44% | +0.06% | +15.26% | |
| 47 | XOM | Exxon Mobil CORP | Stock-Energy | 0.43% | +0.12% | -1.57% | |
| 48 | FTHI | Fthi/first Trust Exchange-tr | ETF-Other | 0.42% | — | +7.35% | |
| 49 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.42% | +0.05% | -0.76% | |
| 50 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 0.41% | — | -0.48% |
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+20%
Based on 78% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1567 | $16.5B | 11 | |
| 2025-12-31 | 1519 | $16.3B | 10 | |
| 2025-09-30 | 1533 | $15.6B | 26 | |
| 2025-06-30 | 1444 | $14.2B | 0 | |
| 2025-03-31 | 1406 | $12.5B | 100 | |
| 2024-12-31 | 1420 | $12.3B | 0 | |
| 2024-09-30 | 1377 | $12.1B | 0 | |
| 2024-06-30 | 1366 | $11.3B | 0 | |
| 2024-03-31 | 1381 | $11.1B | 0 | |
| 2023-12-31 | 1360 | $10.2B | 0 | |
| 2023-09-30 | 1331 | $9.2B | 0 | |
| 2023-06-30 | 1346 | $9.5B | 0 | |
| 2023-03-31 | 1347 | $8.9B | 0 | |
| 2022-12-31 | 1322 | $8.5B | 0 | |
| 2022-09-30 | 1285 | $7.6B | 0 | |
| 2022-06-30 | 1283 | $8.0B | 0 | |
| 2022-03-31 | 1281 | $9.2B | 0 | |
| 2021-12-31 | 1264 | $9.4B | 0 | |
| 2021-09-30 | 1209 | $8.6B | 0 | |
| 2021-06-30 | 1186 | $8.5B | 100 | |
| 2021-03-31 | 1150 | $7.8B | 20 | |
| 2020-12-31 | 1018 | $6.5B | 15 | |
| 2020-09-30 | 951 | $5.7B | 11 | |
| 2020-06-30 | 934 | $5.4B | 22 | |
| 2020-03-31 | 985 | $5.1B | 25 | |
| 2019-12-31 | 1031 | $6.2B | 13 | |
| 2019-09-30 | 1002 | $5.6B | 13 | |
| 2019-06-30 | 991 | $5.4B | 19 | |
| 2019-03-31 | 1133 | $5.8B | 16 | |
| 2018-12-31 | 1090 | $5.1B | 17 | |
| 2018-09-30 | 1162 | $5.6B | 13 | |
| 2018-06-30 | 1118 | $5.1B | 15 | |
| 2018-03-31 | 1100 | $4.8B | 9 | |
| 2017-12-31 | 1110 | $4.8B | 24 | |
| 2017-09-30 | 1074 | $5.1B | 23 | |
| 2017-06-30 | 2397 | $4.4B | 14 | |
| 2017-03-31 | 2369 | $4.1B | 29 | |
| 2016-12-31 | 5473 | $4.4B | 19 | |
| 2016-09-30 | 5154 | $4.0B | 26 | |
| 2016-06-30 | 5105 | $3.4B | 15 | |
| 2016-03-31 | 4785 | $3.2B | 19 | |
| 2015-12-31 | 4272 | $3.1B | 20 | |
| 2015-09-30 | 4203 | $2.9B | 16 | |
| 2015-06-30 | 4655 | $3.0B | 13 | |
| 2015-03-31 | 4453 | $3.0B | 16 | |
| 2014-12-31 | 4497 | $3.1B | 20 | |
| 2014-09-30 | 4544 | $3.0B | 13 | |
| 2014-06-30 | 4672 | $3.0B | 15 | |
| 2014-03-31 | 4795 | $2.8B | 17 | |
| 2013-12-31 | 4840 | $2.7B | 25 | |
| 2013-09-30 | 3748 | $2.2B | 15 | |
| 2013-06-30 | 3829 | $2.1B | — |
D.a. Davidson & Co.'s most significant position changes for 2026-03-31: New buy: Servicetitan Inc-a (TTAN); Add: Microsoft CORP (MSFT) — shares +4.85%; Add: Vanguard Growth ETF (VUG) — shares +2.13%; Trim: Broadcom INC (AVGO) — shares -2.32%; Add: Vanguard Value ETF (VTV) — shares +0.84%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VTV | Vanguard Value ETF | +0.2% | +0.84% | Add |
| 2 | AGG | Ishares Core U.s. Aggregate | +0.2% | +6.95% | Add |
| 3 | COST | Costco Wholesale CORP | +0.1% | +0.53% | Add |
| 4 | CVX | Chevron CORP | +0.1% | +0.07% | Add |
| 5 | XOM | Exxon Mobil CORP | +0.1% | -1.57% | Trim |
| 6 | IWN | Ishares Russell 2000 Value E | +0.1% | +2.18% | Add |
| 7 | JNJ | Johnson & Johnson | +0.1% | -7.11% | Trim |
| 8 | PFE | Pfizer INC | +0.1% | +2.91% | Add |
| 9 | SPIB | Ss Spdr P Int C CORP ETF | +0.1% | +6.76% | Add |
| 10 | VIG | Vanguard Dividend Apprec ETF | +0.1% | +28.86% | Add |
| 11 | NOW | Servicenow INC | +0.1% | +118.63% | Add |
| 12 | CAT | Caterpillar INC | +0.1% | -2.38% | Trim |
| 13 | SGOV | Ishares 0-3 Month Treasury B | +0.1% | +15.26% | Add |
| 14 | EOG | Eog Resources INC | +0.1% | +1.85% | Add |
| 15 | VYM | Vanguard High Dvd Yield ETF | +0.1% | +4.75% | Add |
| 16 | NEE | Nextera Energy INC | +0.1% | -4.02% | Trim |
| 17 | RLY | Ss Multi-asset Real Ret ETF | +0.1% | +3.38% | Add |
| 18 | VZ | Verizon Communications INC | +0.1% | +10.70% | Add |
| 19 | EVSD | Eaton Vance Shrt Dur INC | +0.1% | +87.31% | Add |
| 20 | MRK | Merck & Co. INC. | +0.1% | -0.76% | Trim |
| 21 | OKE | Oneok INC | +0.1% | +62.48% | Add |
| 22 | FCX | Freeport-mcmoran INC | +0.1% | +57.93% | Add |
| 23 | IJK | Ishares S&p Mid-cap 400 Grow | 0% | +2.79% | Add |
| 24 | PEP | Pepsico INC | 0% | +2.20% | Add |
| 25 | TNGY | Tortoise Energy ETF | 0% | +3.75% | Add |
| 26 | CGIC | Cap Group Intl Core Eq | 0% | +61.74% | Add |
| 27 | IXUS | Ishares Core Intl Stock ETF | 0% | -1.08% | Trim |
| 28 | SPGI | S&p Global INC | -0.1% | +11.52% | Add |
| 29 | CRM | Salesforce INC | -0.1% | -32.30% | Trim |
| 30 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | -0.63% | Trim |
| 31 | ACN | Accenture plc | -0.1% | +16.11% | Add |
| 32 | ADP | Automatic Data Processing | -0.1% | +15.04% | Add |
| 33 | GOOG | Alphabet Inc-cl C | -0.1% | +0.28% | Add |
| 34 | VTI | Vanguard Total Stock Mkt ETF | -0.1% | -2.04% | Trim |
| 35 | CMI | Cummins INC | -0.1% | -10.29% | Trim |
| 36 | VOO | Vanguard S&p 500 ETF | -0.1% | +0.25% | Add |
| 37 | IWF | Ishares Russell 1000 Growth | -0.1% | +4.55% | Add |
| 38 | AMZN | Amazon.com INC | -0.1% | +3.16% | Add |
| 39 | V | Visa Inc-class A Shares | -0.1% | +2.50% | Add |
| 40 | GOOGL | Alphabet Inc-cl A | -0.1% | -1.10% | Trim |
| 41 | ADBE | Adobe INC | -0.1% | -43.38% | Trim |
| 42 | JPM | Jpmorgan Chase & Co | -0.1% | -3.24% | Trim |
| 43 | IBM | Intl Business Machines CORP | -0.1% | -9.40% | Trim |
| 44 | NVDA | Nvidia CORP | -0.1% | -0.18% | Trim |
| 45 | QCOM | Qualcomm INC | -0.1% | +0.38% | Add |
| 46 | AAPL | Apple INC | -0.2% | +1.81% | Add |
| 47 | AVGO | Broadcom INC | -0.2% | -2.32% | Trim |
| 48 | VUG | Vanguard Growth ETF | -0.5% | +2.13% | Add |
| 49 | MSFT | Microsoft CORP | -0.5% | +4.85% | Add |
| 50 | TTAN | Servicetitan Inc-a | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-05 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-29 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-22 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-30 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-28 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-31 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-01 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-08 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-25 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-03 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-07 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-28 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-31 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-10 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-07 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-02 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-10 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-05 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-05 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-29 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-02 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-04 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-08 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-08 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-15 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-18 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-06 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-29 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-05 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | Amendment | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-16 | 13F-HR | View on EDGAR |
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