Waddell & Associates, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed May 14, 2025), Waddell & Associates, LLC reported 154 stock positions worth $981.0 million. Its top holding was Red Cat (RCAT) at 16.3% of the portfolio, followed by State Street SPDR S&P Midcap (MDY, 8.1%) and Schwab Fndmntl US SM Co. ETF (FNDA, 7.9%). Compared with Q3 2024, it opened 15 new positions, sold out of 11, added to 56 and reduced 40. The biggest buy was a new position in Red Cat (RCAT) and the biggest sale Doubleline Shiller Cape US (CAPE, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- MEMPHIS, TN
- CIK
- 0001776757
- Portfolio Value
- $981.0M (Q4 2024)
- SEC Filing
- 0001765380-25-000229 ↗ filed May 14, 2025
Holdings Value
Holdings 154 stocks · $981.0M
| RCAT Red Cat Holdings Inc. | 16.27% | 12,423,587 | $159.6M | New |
| MDY State Street SPDR S&P Midcap | 8.14% | 140,263 | $79.9M | Add +1.1% |
| FNDA Schwab Fndmntl US SM Co. ETF | 7.86% | 2,596,060 | $77.1M | Add +1.2% |
| DGRW Wisdomtree U.S. Quality Divi | 7.56% | 916,723 | $74.2M | Add +1.9% |
| IOO iShares Global 100 ETF | 6.99% | 680,708 | $68.6M | Add +0.3% |
| CAPE Doubleline Shiller Cape US | 6.02% | 1,969,289 | $59.0M | Reduce -0.2% |
| VSS Vanguard Ftse All Wo X-US SC | 5.92% | 507,668 | $58.1M | Add +3.9% |
| SCHK Schwab 1000 Index ETF | 5.60% | 1,939,058 | $54.9M | Add +0.7% |
| QQQM Invesco Nasdaq 100 ETF | 4.10% | 190,912 | $40.2M | Add +1.7% |
| IEFA iShares Core MSCI Eafe ETF | 3.95% | 551,554 | $38.8M | Add +1.7% |
| EWX State Street SPDR S&P Emergi | 3.59% | 601,576 | $35.3M | Add +1.6% |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | 3.50% | 382,993 | $34.4M | Add +2.3% |
| AVEM Avantis Emerging Markets Eq | 3.09% | 515,289 | $30.3M | Add +3.8% |
| VT Vanguard Tot World STK ETF | 1.59% | 132,549 | $15.6M | Reduce -0.2% |
| AAPL Apple Inc. | 1.01% | 39,762 | $10.0M | Reduce -2.6% |
| DBND Doubleline Oppor Cor BND-Usd | 0.85% | 184,166 | $8.3M | Add +1.1% |
| MSFT Microsoft Corp. | 0.69% | 16,171 | $6.8M | Add +10.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.64% | 13,772 | $6.2M | Add +12.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.57% | 9,553 | $5.6M | Reduce -3.5% |
| VLUE iShares MSCI USA Value Facto | 0.53% | 48,933 | $5.2M | Reduce -8.5% |
| LLY Eli Lilly & Co. | 0.48% | 6,140 | $4.7M | Reduce -0.0% |
| CGV Conductor Global Eq Val ETF | 0.46% | 356,919 | $4.5M | Add +1.2% |
| WMT Walmart Inc. | 0.36% | 38,553 | $3.5M | Add +1.6% |
| EFA iShares MSCI Eafe ETF | 0.35% | 44,917 | $3.4M | Add +2.8% |
| NVDA Nvidia Corp. | 0.33% | 24,124 | $3.2M | Add +1.3% |
| PSLV Sprott Physical Silver Trust | 0.33% | 331,959 | $3.2M | Add +30.4% |
| VXUS Vanguard Total Intl Stock | 0.31% | 51,382 | $3.0M | Reduce -4.7% |
| ACWI iShares MSCI Acwi ETF | 0.31% | 25,518 | $3.0M | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.30% | 17,409 | $2.9M | Reduce -1.3% |
| VOO Vanguard S&P 500 ETF | 0.29% | 5,230 | $2.8M | Reduce -0.2% |
| JPM JPMorgan Chase & Co. | 0.28% | 11,260 | $2.7M | Reduce -5.0% |
| GOOG Alphabet Inc. Class C | 0.26% | 13,371 | $2.5M | Reduce -0.7% |
| AZO AutoZone Inc. | 0.24% | 742 | $2.4M | Reduce -2.8% |
| IYW iShares Ustechnology ETF | 0.21% | 13,098 | $2.1M | No change |
| HD Home Depot Inc. | 0.20% | 5,016 | $2.0M | Reduce -1.7% |
| XOM Exxon Mobil Corp. | 0.19% | 16,942 | $1.8M | Add +19.1% |
| PG The Procter & Gamble Co. | 0.17% | 9,792 | $1.6M | No change |
| PHYS Sprott Physical Gold Trust | 0.16% | 76,029 | $1.5M | Reduce -20.6% |
| CVX Chevron Corp. | 0.15% | 10,183 | $1.5M | Add +8.3% |
| ORCL Oracle Corp. | 0.15% | 8,797 | $1.5M | Add +13.7% |
| DFAE Dimensional Emerging Core Eq | 0.15% | 57,381 | $1.5M | Add +1.1% |
| META Meta Platforms Inc. Class A | 0.14% | 2,389 | $1.4M | Add +1.9% |
| WST West Pharmaceutical Services | 0.13% | 3,900 | $1.3M | No change |
| AFL Aflac Inc. | 0.13% | 12,239 | $1.3M | Add +0.4% |
| GOOGL Alphabet Inc. Class A | 0.13% | 6,478 | $1.2M | Add +0.3% |
| WTAI Wisdomtree AI and Innovation | 0.12% | 53,171 | $1.2M | No change |
| NFLX Netflix Inc. | 0.12% | 1,304 | $1.2M | Add +1.1% |
| ARTY iShares Future AI & Tech ETF | 0.12% | 30,710 | $1.1M | No change |
| CEF Sprott Physical Gold and Sil | 0.11% | 46,165 | $1.1M | No change |
| AMZN Amazon.com Inc. | 0.11% | 4,897 | $1.1M | Reduce -0.9% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.11% | 19,446 | $1.1M | Reduce -1.3% |
| KO The Coca-Cola Co. | 0.11% | 17,029 | $1.1M | Reduce -16.9% |
| FDX FedEx Corp. | 0.11% | 3,737 | $1.1M | Add +0.1% |
| JNJ Johnson & Johnson | 0.10% | 6,786 | $981K | Add +10.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.10% | 4,461 | $981K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.10% | 1,868 | $955K | Add +14.4% |
| V Visa Inc. Class A | 0.10% | 2,955 | $934K | Reduce -0.2% |
| PSA Public Storage | 0.09% | 3,015 | $903K | Add +0.4% |
| ALL Allstate Corp. | 0.09% | 4,550 | $877K | Reduce -3.2% |
| ISCF iShares International Small | 0.08% | 24,678 | $797K | Reduce 0.0% |
| RF Regions Financial Corp. | 0.08% | 32,863 | $773K | Reduce -7.3% |
| CL Colgate-Palmolive Co. | 0.08% | 8,356 | $760K | No change |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | 0.07% | 17,511 | $729K | Reduce -4.5% |
| MRK Merck & Co. Inc. | 0.07% | 7,291 | $725K | Add +0.0% |
| AXP American Express Co. | 0.07% | 2,436 | $723K | Add +19.6% |
| CHAT Roundhill Gen AI & Tech ETF | 0.07% | 17,719 | $717K | Add +111.3% |
| EW Edwards Lifesciences Corp. | 0.07% | 9,515 | $704K | No change |
| MCD McDonald's Corp. | 0.07% | 2,416 | $700K | Add +123.5% |
| CSCO Cisco Systems Inc. | 0.07% | 11,464 | $679K | Add +15.8% |
| COHR Coherent Corp. | 0.07% | 7,150 | $677K | No change |
| PFE Pfizer Inc. | 0.07% | 25,007 | $663K | Add +0.1% |
| PEP Pepsico Inc. | 0.07% | 4,197 | $638K | Reduce -0.4% |
| USMV iShares MSCI USA Min Vol Fac | 0.06% | 6,805 | $604K | No change |
| MO Altria Group Inc. | 0.06% | 11,184 | $585K | New |
| ORLY O'reilly Automotive Inc. | 0.06% | 492 | $583K | No change |
| GSIE Goldman Sachs Activebeta Int | 0.06% | 17,039 | $568K | No change |
| BKNG Booking Holdings Inc. | 0.06% | 111 | $552K | No change |
| AMAT Applied Materials Inc. | 0.06% | 3,315 | $539K | Add +46.4% |
| GS Goldman Sachs Group Inc. | 0.05% | 898 | $514K | Add +0.2% |
| UNH Unitedhealth Group Inc. | 0.05% | 1,008 | $510K | Add +0.3% |
| PGR Progressive Corp. | 0.05% | 2,118 | $507K | Reduce -8.3% |
| EEM iShares MSCI Emerging Market | 0.05% | 12,080 | $505K | Reduce -6.7% |
| WFC Wells Fargo & Co. | 0.05% | 7,153 | $502K | No change |
| CRM Salesforce Inc. | 0.05% | 1,488 | $497K | Reduce -1.3% |
| QUAL iShares MSCI USA Quality Fac | 0.05% | 2,738 | $488K | Reduce -3.2% |
| ACN Accenture PLC Class A | 0.05% | 1,368 | $481K | No change |
| SCI Service Corp. International | 0.05% | 6,007 | $479K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.05% | 10,824 | $476K | Add +30.9% |
| AVGO Broadcom Inc. | 0.05% | 2,048 | $475K | Reduce -0.6% |
| PPI Astoria Real Assets ETF | 0.04% | 30,098 | $436K | No change |
| UNP Union Pacific Corp. | 0.04% | 1,897 | $433K | No change |
| KMI Kinder Morgan Inc. | 0.04% | 15,746 | $431K | New |
| EQIX Equinix Inc. | 0.04% | 454 | $428K | Add +14.7% |
| GD General Dynamics Corp. | 0.04% | 1,585 | $418K | Add +8.8% |
| PTMC Pacer Trendpilot US Mid Cap | 0.04% | 11,270 | $416K | No change |
| LPX Louisiana-Pacific Corp. | 0.04% | 4,000 | $414K | No change |
| DLR Digital Realty Trust Inc. | 0.04% | 2,308 | $409K | Add +18.0% |
| VRT Vertiv Holdings Co. Class A | 0.04% | 3,589 | $408K | Add +0.8% |
| DUK Duke Energy Corp. | 0.04% | 3,726 | $401K | Reduce -0.9% |
| DAL Delta Air Lines Inc. | 0.04% | 6,569 | $397K | New |
Portfolio Sells Q3 2024 → Q4 2024
| CAPE Doubleline Shiller Cape US | Reduce -0.2% | 6.02% | −1.09 |
| VT Vanguard Tot World STK ETF | Reduce -0.2% | 1.59% | −0.35 |
| VLUE iShares MSCI USA Value Facto | Reduce -8.5% | 0.53% | −0.18 |
| LLY Eli Lilly & Co. | Reduce -0.0% | 0.48% | −0.18 |
| AAPL Apple Inc. | Reduce -2.6% | 1.01% | −0.14 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.5% | 0.57% | −0.12 |
| VXUS Vanguard Total Intl Stock | Reduce -4.7% | 0.31% | −0.12 |
| PHYS Sprott Physical Gold Trust | Reduce -20.6% | 0.16% | −0.08 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.3% | 0.30% | −0.07 |
| KO The Coca-Cola Co. | Reduce -16.9% | 0.11% | −0.07 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.06 |
| HD Home Depot Inc. | Reduce -1.7% | 0.20% | −0.05 |
| AZO AutoZone Inc. | Reduce -2.8% | 0.24% | −0.05 |
| VOO Vanguard S&P 500 ETF | Reduce -0.2% | 0.29% | −0.05 |
| ES Eversource Energy | Sold out | 0.00% | −0.05 |
| LOAN Manhattan Bridge Capital Inc. | Sold out | 0.00% | −0.04 |
| BKR Baker Hughes Co. | Sold out | 0.00% | −0.04 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.04 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.03 |
| MNST Monster Beverage Corp. | Sold out | 0.00% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -5.0% | 0.28% | −0.03 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.03 |
| CLSK Cleanspark Inc. | Sold out | 0.00% | −0.03 |
| TXT Textron Inc. | Sold out | 0.00% | −0.03 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.03 |
| ISCF iShares International Small | Reduce 0.0% | 0.08% | −0.02 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -1.3% | 0.11% | −0.02 |
| PEP Pepsico Inc. | Reduce -0.4% | 0.07% | −0.02 |
| RF Regions Financial Corp. | Reduce -7.3% | 0.08% | −0.02 |
| EEM iShares MSCI Emerging Market | Reduce -6.7% | 0.05% | −0.02 |
| PGR Progressive Corp. | Reduce -8.3% | 0.05% | −0.02 |
| ALL Allstate Corp. | Reduce -3.2% | 0.09% | −0.02 |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | Reduce -4.5% | 0.07% | −0.02 |
| GOOG Alphabet Inc. Class C | Reduce -0.7% | 0.26% | −0.01 |
| INTC Intel Corp. | Reduce -1.1% | 0.03% | −0.01 |
| ABBV Abbvie Inc. | Reduce -2.9% | 0.04% | −0.01 |
| QUAL iShares MSCI USA Quality Fac | Reduce -3.2% | 0.05% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -10.7% | 0.02% | −0.01 |
| DUK Duke Energy Corp. | Reduce -0.9% | 0.04% | −0.01 |
| LOW Lowe's Cos Inc. | Reduce -7.6% | 0.02% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -5.8% | 0.03% | −0.01 |
| GLOF iShares Global Equity Factor | Reduce -3.8% | 0.03% | −0.01 |
| FMHI First Trust Municipal High I | Reduce -5.9% | 0.03% | −0.01 |
| T AT&T Inc. | Reduce -1.2% | 0.04% | −0.01 |
| DIS The Walt Disney Co. | Reduce -11.8% | 0.03% | −0.01 |
| V Visa Inc. Class A | Reduce -0.2% | 0.10% | −0.00 |
| AMZN Amazon.com Inc. | Reduce -0.9% | 0.11% | −0.00 |
| SCHW Schwab (charles) Corp. | Reduce -0.3% | 0.03% | −0.00 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -19.1% | 0.03% | −0.00 |
| CRM Salesforce Inc. | Reduce -1.3% | 0.05% | +0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| RCAT Red Cat Holdings Inc. | New | 16.27% | +16.27 |
| MO Altria Group Inc. | New | 0.06% | +0.06 |
| SCI Service Corp. International | New | 0.05% | +0.05 |
| KMI Kinder Morgan Inc. | New | 0.04% | +0.04 |
| DAL Delta Air Lines Inc. | New | 0.04% | +0.04 |
| SRE Sempra | New | 0.04% | +0.04 |
| VTR Ventas Inc. | New | 0.04% | +0.04 |
| CHAT Roundhill Gen AI & Tech ETF | Add +111.3% | 0.07% | +0.03 |
| MCD McDonald's Corp. | Add +123.5% | 0.07% | +0.03 |
| DE Deere & Co. | New | 0.03% | +0.03 |
| LPLA LPL Financial Holdings Inc. | New | 0.02% | +0.02 |
| COP Conocophillips | New | 0.02% | +0.02 |
| IWF iShares Russell 1000 Growth | New | 0.02% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.02% | +0.02 |
| VRSN Verisign Inc. | New | 0.02% | +0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 0.02% | +0.02 |
| POET Poet Technologies Inc. | New | 0.02% | +0.02 |
| BAC Bank of America Corp. | Add +30.9% | 0.05% | +0.01 |
| NFLX Netflix Inc. | Add +1.1% | 0.12% | +0.01 |
| AXP American Express Co. | Add +19.6% | 0.07% | +0.01 |
| NVT Nvent Electric PLC | Add +43.3% | 0.04% | +0.01 |
| CSCO Cisco Systems Inc. | Add +15.8% | 0.07% | +0.01 |
| DLR Digital Realty Trust Inc. | Add +18.0% | 0.04% | +0.00 |
| PSLV Sprott Physical Silver Trust | Add +30.4% | 0.33% | +0.00 |
| EQIX Equinix Inc. | Add +14.7% | 0.04% | +0.00 |
| HUBB Hubbell Inc. | Add +23.8% | 0.04% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +14.4% | 0.10% | +0.00 |
| AMAT Applied Materials Inc. | Add +46.4% | 0.06% | −0.00 |
| GS Goldman Sachs Group Inc. | Add +0.2% | 0.05% | −0.00 |
| VRT Vertiv Holdings Co. Class A | Add +0.8% | 0.04% | −0.00 |
| OXFORD LANE CAP CORP | Add +4.4% | 0.01% | −0.00 |
| COST Costco Wholesale Corp. | Add +3.8% | 0.02% | −0.00 |
| ECC Eagle Point Credit Co. | Add +4.0% | 0.01% | −0.00 |
| CRT Cross Timbers Royalty Trust | Add +2.5% | 0.01% | −0.00 |
| PM Philip Morris International | Add +1.5% | 0.02% | −0.00 |
| TFC Truist Financial Corp. | Add +0.4% | 0.03% | −0.00 |
| GOOGL Alphabet Inc. Class A | Add +0.3% | 0.13% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Add +0.2% | 0.02% | −0.01 |
| MAA Mid-America Apartment Comm | Add +0.2% | 0.03% | −0.01 |
| ORCL Oracle Corp. | Add +13.7% | 0.15% | −0.01 |
| GD General Dynamics Corp. | Add +8.8% | 0.04% | −0.01 |
| XOM Exxon Mobil Corp. | Add +19.1% | 0.19% | −0.02 |
| NEM Newmont Corp. | Add +13.3% | 0.03% | −0.02 |
| FDX FedEx Corp. | Add +0.1% | 0.11% | −0.02 |
| WMT Walmart Inc. | Add +1.6% | 0.36% | −0.02 |
| CVX Chevron Corp. | Add +8.3% | 0.15% | −0.02 |
| UNH Unitedhealth Group Inc. | Add +0.3% | 0.05% | −0.02 |
| PFE Pfizer Inc. | Add +0.1% | 0.07% | −0.02 |
| META Meta Platforms Inc. Class A | Add +1.9% | 0.14% | −0.02 |
| JNJ Johnson & Johnson | Add +10.1% | 0.10% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 543 | $2.0B | FDX, PAVE, FNDA, MDY, FDXF |
| Q1 2026 | 449 | $1.8B | FDX, PAVE, GCOW, MDY, FNDA |
| Q4 2025 | 379 | $1.5B | FDX, PAVE, MDY, FNDA, DGRW |
| Q3 2025 | 325 | $1.2B | FDX, PAVE, MDY, DGRW, FNDA |
| Q2 2025 | 243 | $936.8M | MDY, PAVE, DGRW, FNDA, AUSF |
| Q1 2025Amended | 159 | $823.6M | MDY, DGRW, FNDA, WELD, AUSF |
| Q4 2024Amended | 154 | $981.0M | RCAT, MDY, FNDA, DGRW, IOO |
| Q3 2024 | 150 | $822.1M | MDY, FNDA, DGRW, IOO, VSS |
| Q2 2024 | 138 | $760.0M | MDY, FNDA, DGRW, IOO, VSS |
| Q1 2024 | 140 | $739.8M | MDY, FNDA, DGRW, IOO, CAPE |