Commonwealth Equity Services, Inc

Diversified strategyMomentum followerLong-term holder

Total reported value

$16.7B

Reporting period: 2017-09-30 · Number of holdings: 2565

Commonwealth Equity Services, Inc disclosed 2565 holdings in its latest 13F filing for the period ending 2017-09-30, with total reported value of $16.7B and a quarterly turnover rate of 10.6%.

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Personality snowflake

Concentration: 2.61
Portfolio Stability: 10.62
Momentum/Contrarian: 99.11
Sector conviction: 42.39
Diversification: 100
Sizing Uniformity: 60.29

Recent moves

Add VTI
+13.4%　$45.6M
Trim AEP
-0.3%　-$15.4M
Trim IWF
-2.3%　$13.0M
Trim MO
+1.8%　-$12.7M
Add BSV
+19.2%　$19.9M
Add BRK-B
+4.6%　$21.1M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

Capital is rotating aggressively into mega-cap tech indices and global ETFs, evidenced by the DD position launch alongside AAPL/BRK-B adds. The near-2600 holding universe with 10.6% quarterly turnover confirms an active momentum-chasing wheel strategy over concentrated conviction bets.

Macro & Fundamentals

Betting on tech sector dominance and passive fund absorption, while underweighting utilities (0.06%) and materials (0.41%) to hedge against disinflationary pressure that squeezes industrial profit margins and reward earnings-driven growth.

Blind Spots / Risks

The 2565-position portfolio structure faces severe alpha dilution risk where excessive diversification erodes per-holding impact, compounded by turnover costs that bleed returns in choppy liquidity environments.

The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	IWF	Ishares Russell 1000 Growth	ETF-Other	3.04%	-0.11%	-2.34%
2	IWD	Ishares Russell 1000 Value E	ETF-Other	2.80%	—	-2.12%
3	VEA	Vanguard Ftse Developed ETF	ETF-Other	2.49%	+0.03%	+2.39%
4	AAPL	Apple INC	Stock-Tech	2.42%	+0.05%	+1.58%
5	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	1.78%	+0.18%	+13.44%
6	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	1.48%	+0.03%	+4.59%
7	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	1.35%	-0.01%	+1.95%
8	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.08%	+0.07%	+4.63%
9	✓		Stock-Other	1.06%	+0.02%	+2.40%
10	XOM	Exxon Mobil CORP	Stock-Energy	1.05%	—	+2.31%
11	JNJ	Johnson & Johnson	Stock-Healthcare	0.98%	—	+1.58%
12	IJR	Ishares Core S&p Small-cap E	ETF-Small Cap	0.93%	+0.07%	+7.77%
13	IWP	Ishares Russell Mid-cap Grow	ETF-Other	0.91%	—	+1.73%
14	IJH	Ishares Core S&p Midcap ETF	ETF-Other	0.91%	+0.02%	+4.50%
15	T	At&t INC	Stock-Comm Services	0.88%	+0.02%	+4.19%
16	IWS	Ishares Russell Mid-cap Valu	ETF-Other	0.81%	—	+2.02%
17	VUG	Vanguard Growth ETF	ETF-Other	0.81%	+0.01%	+3.02%
18	VZ	Verizon Communications INC	Stock-Comm Services	0.79%	+0.04%	+1.67%
19	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	0.78%	+0.02%	+2.64%
20	AEP	American Electric Power Company, Inc.	Stock-Utilities	0.76%	-0.15%	-0.34%
21	MSFT	Microsoft CORP	Stock-Tech	0.75%	+0.02%	+1.72%
22	IWN	Ishares Russell 2000 Value E	ETF-Small Cap	0.75%	+0.01%	+2.53%
23	BSV	Vanguard Short-term Bond ETF	ETF-Other	0.74%	+0.08%	+19.23%
24	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.74%	—	+1.74%
25	VTV	Vanguard Value ETF	ETF-Other	0.70%	+0.02%	+5.88%
26	VIG	Vanguard Dividend Apprec ETF	ETF-Other	0.69%	—	+3.14%
27	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	0.69%	—	+1.66%
28	IVW	Ishares S&p 500 Growth ETF	ETF-Large Cap & Growth	0.66%	—	+0.19%
29	IXUS	Ishares Core Intl Stock ETF	ETF-Other	0.65%	+0.07%	+13.38%
30	FSICUSD	Fs Kkr Capital CORP	Stock-Other	0.63%	—	+1.80%
31	ITOT	Ishares Core S&p Total U.s.	ETF-Other	0.61%	+0.02%	+5.18%
32	EFA	Ishares Msci Eafe ETF	ETF-Other	0.58%	+0.02%	+4.14%
33	IWO	Ishares Russell 2000 Growth	ETF-Small Cap	0.56%	—	+1.24%
34	SCHD	Schwab U.S. Dividend Equity ETF	ETF-Other	0.55%	—	-2.18%
35	VYM	Vanguard High Dvd Yield ETF	ETF-Other	0.55%	—	-0.12%
36	USMV	Ishares Msci USA Min Vol Fac	ETF-Other	0.55%	+0.01%	+5.76%
37	PFE	Pfizer INC	Stock-Healthcare	0.54%	+0.01%	+1.74%
38	CVX	Chevron CORP	Stock-Energy	0.53%	+0.03%	+1.23%
39	AMZN	Amazon.com INC	Stock-Consumer Disc	0.52%	+0.02%	+12.05%
40	AGG	Ishares Core U.s. Aggregate	ETF-Other	0.51%	—	+2.64%
41	PFF	Ishares Preferred & Income S	ETF-Other	0.50%	—	+2.14%
42	TFI	Ss Spdr N Ice Muni Bond ETF	ETF-Other	0.50%	—	+4.14%
43	MO	Altria Group INC	Stock-Consumer Staples	0.49%	-0.11%	+1.78%
44	IVE	Ishares S&p 500 Value ETF	ETF-Large Cap & Growth	0.49%	—	+0.10%
45	VB	Vanguard Small-cap ETF	ETF-Other	0.46%	+0.01%	+5.26%
46	SDY	Ss Spdr S&p Dividend ETF	ETF-Other	0.45%	—	-1.22%
47	META	Meta Platforms Inc-class A	Stock-Comm Services	0.45%	+0.05%	+6.94%
48	VO	Vanguard Mid-cap ETF	ETF-Other	0.45%	—	+1.57%
49	PEP	Pepsico INC	Stock-Consumer Staples	0.44%	—	+0.33%
50	IGSB	Ishares 1-5y Inv Grade CORP	ETF-Other	0.43%	—	-0.21%

1–50 of 2,565

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2017-09-30	2565	$16.7B	11	1IWF 2IWD 3VEA Top holdings2017-09-30 1.IWF 2.IWD 3.VEA 4.AAPL 5.VTI 6.IVV 7.SPY 8.BRK-B 9.73935A 10.XOM
2017-06-30	2518	$15.7B	10	1IWF 2IWD 3VEA Top holdings2017-06-30 1.IWF 2.IWD 3.VEA 4.AAPL 5.VTI 6.IVV 7.SPY 8.XOM 9.JNJ 10.73935A
2017-03-31	2414	$14.9B	15	1IWF 2IWD 3VEA Top holdings2017-03-31 1.IWF 2.IWD 3.VEA 4.AAPL 5.VTI 6.IVV 7.SPY 8.XOM 9.AEP 10.BRK-B
2016-12-31	2318	$13.5B	15	1IWD 2IWF 3VEA Top holdings2016-12-31 1.IWD 2.IWF 3.VEA 4.AAPL 5.SPY 6.XOM 7.VTI 8.IVV 9.AEP 10.T
2016-09-30	2254	$12.6B	11	1IWF 2IWD 3VEA Top holdings2016-09-30 1.IWF 2.IWD 3.VEA 4.AAPL 5.SPY 6.XOM 7.IVV 8.AEP 9.VTI 10.JNJ
2016-06-30	2240	$11.9B	12	1IWF 2IWD 3VEA Top holdings2016-06-30 1.IWF 2.IWD 3.VEA 4.AAPL 5.XOM 6.SPY 7.AEP 8.IVV 9.JNJ 10.T
2016-03-31	2209	$11.2B	16	1IWF 2IWD 3AAPL Top holdings2016-03-31 1.IWF 2.IWD 3.AAPL 4.VEA 5.SPY 6.XOM 7.AEP 8.IVV 9.JNJ 10.VZ
2015-12-31	2194	$10.6B	16	1IWF 2IWD 3AAPL Top holdings2015-12-31 1.IWF 2.IWD 3.AAPL 4.VEA 5.SPY 6.AEP 7.XOM 8.IVV 9.73935A 10.JNJ
2015-09-30	2144	$9.5B	14	1IWF 2IWD 3AAPL Top holdings2015-09-30 1.IWF 2.IWD 3.AAPL 4.VEA 5.SPY 6.XOM 7.AEP 8.BRK-B 9.FSICUSD 10.73935A
2015-06-30	2193	$10.1B	12	1IWF 2IWD 3AAPL Top holdings2015-06-30 1.IWF 2.IWD 3.AAPL 4.VEA 5.SPY 6.XOM 7.AEP 8.BRK-B 9.FSICUSD 10.IWP
2015-03-31	2183	$9.6B	15	1IWF 2IWD 3AAPL Top holdings2015-03-31 1.IWF 2.IWD 3.AAPL 4.VEA 5.XOM 6.SPY 7.BRK-B 8.FSICUSD 9.AEP 10.73935A
2014-12-31	2095	$8.9B	17	1IWF 2IWD 3AAPL Top holdings2014-12-31 1.IWF 2.IWD 3.AAPL 4.XOM 5.VEA 6.SPY 7.BRK-B 8.FSICUSD 9.AEP 10.73935A
2014-09-30	2092	$8.2B	13	1IWF 2IWD 3AAPL Top holdings2014-09-30 1.IWF 2.IWD 3.AAPL 4.XOM 5.VEA 6.FSICUSD 7.SPY 8.BRK-B 9.AEP 10.JNJ
2014-06-30	2061	$8.2B	18	1FSICUSD 2IWF 3IWD Top holdings2014-06-30 1.FSICUSD 2.IWF 3.IWD 4.AAPL 5.XOM 6.VEA 7.SPY 8.AEP 9.BRK-B 10.JNJ
2014-03-31	1991	$7.2B	13	1IWF 2IWD 3XOM Top holdings2014-03-31 1.IWF 2.IWD 3.XOM 4.AAPL 5.VEA 6.SPY 7.AEP 8.BRK-B 9.IWP 10.73935A
2013-12-31	1924	$6.9B	19	1IWF 2IWD 3AAPL Top holdings2013-12-31 1.IWF 2.IWD 3.AAPL 4.XOM 5.SPY 6.VEA 7.AEP 8.IWP 9.BRK-B 10.73935A
2013-09-30	1871	$6.2B	17	1IWF 2IWD 3XOM Top holdings2013-09-30 1.IWF 2.IWD 3.XOM 4.AAPL 5.SPY 6.VEA 7.AEP 8.BRK-B 9.T 10.JNJ
2013-06-30	1821	$5.7B	0	1IWF 2XOM 3IWD Top holdings2013-06-30 1.IWF 2.XOM 3.IWD 4.AAPL 5.SPY 6.AEP 7.VZ 8.BRK-B 9.VEA 10.T

Holding changes this quarter

Commonwealth Equity Services, Inc's most significant position changes for 2017-09-30: New buy: DuPont de Nemours, Inc. (DD); Sold out: Dow Chem Co; Sold out: Du Pont E I De Nemour&Co; Sold out: Reynolds Consumer Products Inc. (REYN); Add: Vanguard Total Stock Mkt ETF (VTI) — shares +13.44%.

Position changes disclosed by Commonwealth Equity Services, Inc for the quarter ending 2017-09-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	VTI	Vanguard Total Stock Mkt ETF	+0.2%	+13.44%	Add
2	BSV	Vanguard Short-term Bond ETF	+0.1%	+19.23%	Add
3	BRK-B	Berkshire Hathaway Inc-cl B	+0.1%	+4.63%	Add
4	IJR	Ishares Core S&p Small-cap E	+0.1%	+7.77%	Add
5	IXUS	Ishares Core Intl Stock ETF	+0.1%	+13.38%	Add
6	BA	Boeing Co/the	+0.1%	+2.04%	Add
7	MTUM	Ishares Msci USA Momentum Fa	+0.1%	+44.56%	Add
8	AAPL	Apple INC	+0.1%	+1.58%	Add
9	META	Meta Platforms Inc-class A	+0.1%	+6.94%	Add
10	INTC	Intel CORP	+0.1%	+8.52%	Add
11	ABBV	Abbvie INC	+0.1%	+1.78%	Add
12	VCSH	Vanguard S/t CORP Bond ETF	+0.1%	+28.65%	Add
13	FDRR	Fidelity Div ETF Rise Rates	+0.1%	+155.85%	Add
14	VZ	Verizon Communications INC	0%	+1.67%	Add
15	NEE	Nextera Energy INC	0%	+13.34%	Add
16	EMHY	Ishares J.p. Morgan Em High	0%	+73.05%	Add
17	BTI	British American Tob-sp Adr	0%	+358.64%	Add
18	VEA	Vanguard Ftse Developed ETF	0%	+2.39%	Add
19	IVV	Ishares Core S&p 500 ETF	0%	+4.59%	Add
20	CVX	Chevron CORP	0%	+1.23%	Add
21	HD	Home Depot INC	0%	+7.35%	Add
22	✓		0%	+2.40%	Add
23	VWO	Vanguard Ftse Emerging Marke	0%	+2.64%	Add
24	MSFT	Microsoft CORP	0%	+1.72%	Add
25	T	At&t INC	0%	+4.19%	Add
26	IJH	Ishares Core S&p Midcap ETF	0%	+4.50%	Add
27	VTV	Vanguard Value ETF	0%	+5.88%	Add
28	AMZN	Amazon.com INC	0%	+12.05%	Add
29	ITOT	Ishares Core S&p Total U.s.	0%	+5.18%	Add
30	EFA	Ishares Msci Eafe ETF	0%	+4.14%	Add
31	HDV	Ishares Core High Dividend E	0%	+9.34%	Add
32	GLD	Spdr Gold Shares	0%	+12.83%	Add
33	VUG	Vanguard Growth ETF	0%	+3.02%	Add
34	IWN	Ishares Russell 2000 Value E	0%	+2.53%	Add
35	USMV	Ishares Msci USA Min Vol Fac	0%	+5.76%	Add
36	VB	Vanguard Small-cap ETF	0%	+5.26%	Add
37	PFE	Pfizer INC	0%	+1.74%	Add
38	IWP	Ishares Russell Mid-cap Grow	—	+1.73%	Add
39	PG	Procter & Gamble Co/the	—	+1.74%	Add
40	SPY	Ss Spdr S&p 500 ETF Trust-us	0%	+1.95%	Add
41	HEFA	Isha Curr Hedged Msci Eafe	-0.1%	-20.62%	Trim
42	DHS	Wisdomtree US High Dividend	-0.1%	-51.92%	Trim
43	TIP	Ishares Tips Bond ETF	-0.1%	-18.78%	Trim
44	IWF	Ishares Russell 1000 Growth	-0.1%	-2.34%	Trim
45	MO	Altria Group INC	-0.1%	+1.78%	Add
46	AEP	American Electric Power Company, Inc.	-0.2%	-0.34%	Trim
47	DD	DuPont de Nemours, Inc.	—	NEW	New buy
48	✓	Dow Chem Co	—	EXIT	Sold out
49	✓	Du Pont E I De Nemour&Co	—	EXIT	Sold out
50	REYN	Reynolds Consumer Products Inc.	—	EXIT	Sold out

FAQ

What is Commonwealth Equity Services, Inc and what type of investor is it?

Commonwealth Equity Services, Inc is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2017-09-30), the firm manages a tracked equity portfolio valued at approximately $16.7B, spread across 2565 disclosed positions.

What are Commonwealth Equity Services, Inc's largest equity positions?

Based on the latest 13F filing, Commonwealth Equity Services, Inc's top holdings by market value are: 1. Ishares Russell 1000 Growth (IWF) — $508.6M (3.0%) 2. Ishares Russell 1000 Value E (IWD) — $468.1M (2.8%) 3. Vanguard Ftse Developed ETF (VEA) — $416.7M (2.5%) 4. Apple INC (AAPL) — $404.9M (2.4%) 5. Vanguard Total Stock Mkt ETF (VTI) — $298.1M (1.8%)

What changes did Commonwealth Equity Services, Inc make in its most recent portfolio filing?

In the latest reported quarter, Commonwealth Equity Services, Inc made 50 notable position adjustments: 1 new positions were initiated, 41 existing holdings were added to, 5 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: DuPont de Nemours, Inc. (DD); Sold out: Dow Chem Co; Sold out: Du Pont E I De Nemour&Co; Sold out: Reynolds Consumer Products Inc. (REYN); Add: Vanguard Total Stock Mkt ETF (VTI) — shares +13.44%

What sectors does Commonwealth Equity Services, Inc focus on?

Commonwealth Equity Services, Inc is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 21.9% • Health Care: 16.3% • Communication Services: 14.3% • Financials: 12.9% • Consumer Staples: 10.1% • Consumer Discretionary: 9.1%