Waddell & Associates, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Waddell & Associates, LLC reported 159 stock positions worth $823.6 million. Its top holding was State Street SPDR S&P Midcap (MDY) at 9.2% of the portfolio, followed by Wisdomtree U.S. Quality Divi (DGRW, 9.0%) and Schwab Fndmntl US SM Co. ETF (FNDA, 8.8%). Compared with Q4 2024, it opened 10 new positions, sold out of 5, added to 64 and reduced 45. The biggest buy was a new position in Tema U.S. Manufacturing & Re (WELD) and the biggest sale Red Cat (RCAT, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- MEMPHIS, TN
- CIK
- 0001776757
- Portfolio Value
- $823.6M (Q1 2025)
- SEC Filing
- 0001765380-25-000228 ↗ filed May 14, 2025
Holdings Value
Holdings 159 stocks · $823.6M
| MDY State Street SPDR S&P Midcap | 9.17% | 141,588 | $75.5M | Add +0.9% |
| DGRW Wisdomtree U.S. Quality Divi | 9.04% | 931,985 | $74.4M | Add +1.7% |
| FNDA Schwab Fndmntl US SM Co. ETF | 8.77% | 2,636,391 | $72.2M | Add +1.6% |
| WELD Tema U.S. Manufacturing & Re | 8.63% | 2,095,949 | $71.1M | New |
| AUSF Global X Adaptive US Factor | 7.54% | 1,423,088 | $62.1M | New |
| CAPE Doubleline Shiller Cape US | 7.31% | 1,982,264 | $60.2M | Add +0.7% |
| SCHK Schwab 1000 Index ETF | 6.52% | 1,994,283 | $53.7M | Add +2.9% |
| IEFA iShares Core MSCI Eafe ETF | 5.20% | 566,512 | $42.9M | Add +2.7% |
| QQQM Invesco Nasdaq 100 ETF | 4.50% | 192,102 | $37.1M | Add +0.6% |
| EWX State Street SPDR S&P Emergi | 4.23% | 615,037 | $34.8M | Add +2.2% |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | 4.10% | 386,838 | $33.7M | Add +1.0% |
| AVEM Avantis Emerging Markets Eq | 3.87% | 530,367 | $31.9M | Add +2.9% |
| AAPL Apple Inc. | 1.36% | 50,249 | $11.2M | Add +26.4% |
| FDX FedEx Corp. | 1.19% | 40,359 | $9.8M | Add +980.0% |
| DBND Doubleline Oppor Cor BND-Usd | 1.05% | 187,018 | $8.6M | Add +1.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.94% | 13,886 | $7.8M | Add +45.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.88% | 13,662 | $7.3M | Reduce -0.8% |
| MSFT Microsoft Corp. | 0.79% | 17,409 | $6.5M | Add +7.7% |
| LLY Eli Lilly & Co. | 0.62% | 6,220 | $5.1M | Add +1.3% |
| CGV Conductor Global Eq Val ETF | 0.61% | 404,873 | $5.1M | Add +13.4% |
| VLUE iShares MSCI USA Value Facto | 0.58% | 44,799 | $4.8M | Reduce -8.4% |
| PSLV Sprott Physical Silver Trust | 0.47% | 331,939 | $3.9M | Reduce -0.0% |
| EFA iShares MSCI Eafe ETF | 0.44% | 44,820 | $3.7M | Reduce -0.2% |
| WMT Walmart Inc. | 0.42% | 39,184 | $3.4M | Add +1.6% |
| NVDA Nvidia Corp. | 0.38% | 28,734 | $3.1M | Add +19.1% |
| VOO Vanguard S&P 500 ETF | 0.38% | 6,048 | $3.1M | Add +15.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.37% | 17,504 | $3.0M | Add +0.6% |
| AZO AutoZone Inc. | 0.36% | 773 | $2.9M | Add +4.2% |
| ACWI iShares MSCI Acwi ETF | 0.36% | 25,247 | $2.9M | Reduce -1.1% |
| JPM JPMorgan Chase & Co. | 0.35% | 11,877 | $2.9M | Add +5.5% |
| VXUS Vanguard Total Intl Stock | 0.35% | 46,906 | $2.9M | Reduce -8.7% |
| HD Home Depot Inc. | 0.29% | 6,515 | $2.4M | Add +29.9% |
| GOOG Alphabet Inc. Class C | 0.27% | 14,226 | $2.2M | Add +6.4% |
| XOM Exxon Mobil Corp. | 0.24% | 16,800 | $2.0M | Reduce -0.8% |
| IYW iShares Ustechnology ETF | 0.22% | 13,113 | $1.8M | Add +0.1% |
| PHYS Sprott Physical Gold Trust | 0.20% | 69,607 | $1.7M | Reduce -8.4% |
| CVX Chevron Corp. | 0.20% | 9,683 | $1.6M | Reduce -4.9% |
| PG The Procter & Gamble Co. | 0.19% | 9,317 | $1.6M | Reduce -4.8% |
| VT Vanguard Tot World STK ETF | 0.19% | 13,248 | $1.5M | Reduce -90.0% |
| META Meta Platforms Inc. Class A | 0.18% | 2,508 | $1.4M | Add +5.0% |
| DFAE Dimensional Emerging Core Eq | 0.17% | 52,834 | $1.4M | Reduce -7.9% |
| AFL Aflac Inc. | 0.17% | 12,302 | $1.4M | Add +0.5% |
| NFLX Netflix Inc. | 0.17% | 1,464 | $1.4M | Add +12.3% |
| CEF Sprott Physical Gold and Sil | 0.16% | 46,135 | $1.3M | Reduce -0.1% |
| ORCL Oracle Corp. | 0.15% | 8,803 | $1.2M | Add +0.1% |
| KO The Coca-Cola Co. | 0.14% | 16,529 | $1.2M | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 0.14% | 7,437 | $1.2M | Add +14.8% |
| JNJ Johnson & Johnson | 0.13% | 6,436 | $1.1M | Reduce -5.2% |
| V Visa Inc. Class A | 0.13% | 2,939 | $1.0M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.12% | 4,099 | $1.0M | Reduce -8.1% |
| WTAI Wisdomtree AI and Innovation | 0.12% | 53,641 | $1.0M | Add +0.9% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.12% | 19,645 | $1.0M | Add +1.0% |
| RCAT Red Cat Holdings Inc. | 0.12% | 165,260 | $972K | Reduce -98.7% |
| ARTY iShares Future AI & Tech ETF | 0.12% | 30,735 | $967K | Add +0.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.12% | 2,031 | $952K | Add +8.7% |
| ALL Allstate Corp. | 0.11% | 4,550 | $942K | No change |
| PSA Public Storage | 0.11% | 3,026 | $906K | Add +0.4% |
| AMZN Amazon.com Inc. | 0.11% | 4,599 | $875K | Reduce -6.1% |
| CSCO Cisco Systems Inc. | 0.09% | 11,521 | $711K | Add +0.5% |
| RF Regions Financial Corp. | 0.09% | 32,574 | $708K | Reduce -0.9% |
| ORLY O'reilly Automotive Inc. | 0.09% | 492 | $705K | No change |
| EW Edwards Lifesciences Corp. | 0.08% | 9,515 | $690K | No change |
| MO Altria Group Inc. | 0.08% | 11,184 | $671K | No change |
| CL Colgate-Palmolive Co. | 0.08% | 7,156 | $671K | Reduce -14.4% |
| MCD McDonald's Corp. | 0.08% | 2,116 | $661K | Reduce -12.4% |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | 0.08% | 17,451 | $661K | Reduce -0.3% |
| AXP American Express Co. | 0.08% | 2,436 | $655K | No change |
| WST West Pharmaceutical Services | 0.08% | 2,900 | $649K | Reduce -25.6% |
| LOW Lowe's Cos Inc. | 0.08% | 2,709 | $632K | Add +183.1% |
| CHAT Roundhill Gen AI & Tech ETF | 0.08% | 17,961 | $626K | Add +1.4% |
| USMV iShares MSCI USA Min Vol Fac | 0.08% | 6,612 | $619K | Reduce -2.8% |
| PGR Progressive Corp. | 0.07% | 2,118 | $599K | No change |
| WFC Wells Fargo & Co. | 0.07% | 8,192 | $588K | Add +14.5% |
| PFE Pfizer Inc. | 0.07% | 22,523 | $571K | Reduce -9.9% |
| MRK Merck & Co. Inc. | 0.07% | 6,175 | $554K | Reduce -15.3% |
| GS Goldman Sachs Group Inc. | 0.07% | 999 | $546K | Add +11.3% |
| PEP Pepsico Inc. | 0.07% | 3,600 | $540K | Reduce -14.2% |
| TSLA Tesla Inc. | 0.07% | 2,076 | $538K | New |
| UNH Unitedhealth Group Inc. | 0.06% | 1,007 | $528K | Reduce -0.1% |
| GE General Electric filed as GE AEROSPACE | 0.06% | 2,615 | $523K | New |
| BKNG Booking Holdings Inc. | 0.06% | 111 | $511K | No change |
| QUAL iShares MSCI USA Quality Fac | 0.06% | 2,982 | $510K | Add +8.9% |
| GSIE Goldman Sachs Activebeta Int | 0.06% | 14,192 | $506K | Reduce -16.7% |
| EEM iShares MSCI Emerging Market | 0.06% | 11,466 | $501K | Reduce -5.1% |
| T AT&T Inc. | 0.06% | 17,685 | $500K | Add +5.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.06% | 1,775 | $488K | New |
| VEU Vanguard Ftse All-World Ex-U | 0.06% | 7,990 | $485K | Add +24.8% |
| SCI Service Corp. International | 0.06% | 6,007 | $482K | No change |
| AMAT Applied Materials Inc. | 0.06% | 3,301 | $479K | Reduce -0.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.06% | 11,206 | $468K | Add +3.5% |
| COHR Coherent Corp. | 0.06% | 7,150 | $464K | No change |
| KMI Kinder Morgan Inc. | 0.06% | 16,021 | $457K | Add +1.8% |
| NEM Newmont Corp. | 0.06% | 9,427 | $455K | Add +7.1% |
| DUK Duke Energy Corp. | 0.06% | 3,726 | $454K | No change |
| VTR Ventas Inc. | 0.05% | 6,478 | $445K | No change |
| PPI Astoria Real Assets ETF | 0.05% | 30,098 | $436K | No change |
| ACN Accenture PLC Class A | 0.05% | 1,385 | $432K | Add +1.2% |
| GD General Dynamics Corp. | 0.05% | 1,585 | $432K | No change |
| IOO iShares Global 100 ETF | 0.05% | 4,376 | $421K | Reduce -99.4% |
| ABBV Abbvie Inc. | 0.05% | 1,953 | $409K | Reduce -0.5% |
Portfolio Sells Q4 2024 → Q1 2025
| RCAT Red Cat Holdings Inc. | Reduce -98.7% | 0.12% | −16.16 |
| IOO iShares Global 100 ETF | Reduce -99.4% | 0.05% | −6.94 |
| VSS Vanguard Ftse All Wo X-US SC | Sold out | 0.00% | −5.92 |
| VT Vanguard Tot World STK ETF | Reduce -90.0% | 0.19% | −1.40 |
| ISCF iShares International Small | Sold out | 0.00% | −0.08 |
| WST West Pharmaceutical Services | Reduce -25.6% | 0.08% | −0.05 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.03 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Sold out | 0.00% | −0.02 |
| GLOF iShares Global Equity Factor | Reduce -34.1% | 0.02% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -15.3% | 0.07% | −0.01 |
| DAL Delta Air Lines Inc. | Reduce -0.0% | 0.03% | −0.01 |
| AMZN Amazon.com Inc. | Reduce -6.1% | 0.11% | −0.00 |
| PEP Pepsico Inc. | Reduce -14.2% | 0.07% | +0.00 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -2.1% | 0.04% | +0.00 |
| DIS The Walt Disney Co. | Reduce -0.9% | 0.04% | +0.00 |
| PFE Pfizer Inc. | Reduce -9.9% | 0.07% | +0.00 |
| AMAT Applied Materials Inc. | Reduce -0.4% | 0.06% | +0.00 |
| QCOM Qualcomm Inc. | Reduce -5.2% | 0.03% | +0.00 |
| GSIE Goldman Sachs Activebeta Int | Reduce -16.7% | 0.06% | +0.00 |
| CL Colgate-Palmolive Co. | Reduce -14.4% | 0.08% | +0.00 |
| COST Costco Wholesale Corp. | Reduce -3.7% | 0.03% | +0.00 |
| UNP Union Pacific Corp. | Reduce -9.9% | 0.05% | +0.00 |
| SYY Sysco Corp. | Reduce -2.9% | 0.05% | +0.01 |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | Reduce -0.3% | 0.08% | +0.01 |
| CAMX Cambiar Aggressive Value ETF | Reduce -1.9% | 0.04% | +0.01 |
| RF Regions Financial Corp. | Reduce -0.9% | 0.09% | +0.01 |
| INTC Intel Corp. | Reduce -8.8% | 0.04% | +0.01 |
| SCHW Schwab (charles) Corp. | Reduce -1.3% | 0.04% | +0.01 |
| MCD McDonald's Corp. | Reduce -12.4% | 0.08% | +0.01 |
| EEM iShares MSCI Emerging Market | Reduce -5.1% | 0.06% | +0.01 |
| UNH Unitedhealth Group Inc. | Reduce -0.1% | 0.06% | +0.01 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -2.8% | 0.08% | +0.01 |
| ABBV Abbvie Inc. | Reduce -0.5% | 0.05% | +0.01 |
| DFAE Dimensional Emerging Core Eq | Reduce -7.9% | 0.17% | +0.02 |
| IBM Intl Business Machines Corp. | Reduce -8.1% | 0.12% | +0.02 |
| PG The Procter & Gamble Co. | Reduce -4.8% | 0.19% | +0.03 |
| JNJ Johnson & Johnson | Reduce -5.2% | 0.13% | +0.03 |
| V Visa Inc. Class A | Reduce -0.5% | 0.13% | +0.03 |
| KO The Coca-Cola Co. | Reduce -2.9% | 0.14% | +0.04 |
| VXUS Vanguard Total Intl Stock | Reduce -8.7% | 0.35% | +0.04 |
| CVX Chevron Corp. | Reduce -4.9% | 0.20% | +0.05 |
| PHYS Sprott Physical Gold Trust | Reduce -8.4% | 0.20% | +0.05 |
| CEF Sprott Physical Gold and Sil | Reduce -0.1% | 0.16% | +0.05 |
| ACWI iShares MSCI Acwi ETF | Reduce -1.1% | 0.36% | +0.05 |
| VLUE iShares MSCI USA Value Facto | Reduce -8.4% | 0.58% | +0.05 |
| XOM Exxon Mobil Corp. | Reduce -0.8% | 0.24% | +0.06 |
| EFA iShares MSCI Eafe ETF | Reduce -0.2% | 0.44% | +0.10 |
| PSLV Sprott Physical Silver Trust | Reduce -0.0% | 0.47% | +0.14 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.8% | 0.88% | +0.25 |
Portfolio Buys Q4 2024 → Q1 2025
| WELD Tema U.S. Manufacturing & Re | New | 8.63% | +8.63 |
| AUSF Global X Adaptive US Factor | New | 7.54% | +7.54 |
| DGRW Wisdomtree U.S. Quality Divi | Add +1.7% | 9.04% | +1.47 |
| CAPE Doubleline Shiller Cape US | Add +0.7% | 7.31% | +1.30 |
| IEFA iShares Core MSCI Eafe ETF | Add +2.7% | 5.20% | +1.25 |
| FDX FedEx Corp. | Add +980.0% | 1.19% | +1.09 |
| MDY State Street SPDR S&P Midcap | Add +0.9% | 9.17% | +1.03 |
| SCHK Schwab 1000 Index ETF | Add +2.9% | 6.52% | +0.92 |
| FNDA Schwab Fndmntl US SM Co. ETF | Add +1.6% | 8.77% | +0.91 |
| AVEM Avantis Emerging Markets Eq | Add +2.9% | 3.87% | +0.79 |
| EWX State Street SPDR S&P Emergi | Add +2.2% | 4.23% | +0.63 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | Add +1.0% | 4.10% | +0.59 |
| QQQM Invesco Nasdaq 100 ETF | Add +0.6% | 4.50% | +0.41 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +45.4% | 0.94% | +0.37 |
| AAPL Apple Inc. | Add +26.4% | 1.36% | +0.34 |
| DBND Doubleline Oppor Cor BND-Usd | Add +1.6% | 1.05% | +0.20 |
| CGV Conductor Global Eq Val ETF | Add +13.4% | 0.61% | +0.16 |
| LLY Eli Lilly & Co. | Add +1.3% | 0.62% | +0.14 |
| AZO AutoZone Inc. | Add +4.2% | 0.36% | +0.12 |
| MSFT Microsoft Corp. | Add +7.7% | 0.79% | +0.10 |
| HD Home Depot Inc. | Add +29.9% | 0.29% | +0.09 |
| VOO Vanguard S&P 500 ETF | Add +15.6% | 0.38% | +0.09 |
| JPM JPMorgan Chase & Co. | Add +5.5% | 0.35% | +0.08 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +0.6% | 0.37% | +0.07 |
| TSLA Tesla Inc. | New | 0.07% | +0.07 |
| GE General Electric | New | 0.06% | +0.06 |
| WMT Walmart Inc. | Add +1.6% | 0.42% | +0.06 |
| VTI VG Morningstar TS MKT ETF-US | New | 0.06% | +0.06 |
| LOW Lowe's Cos Inc. | Add +183.1% | 0.08% | +0.05 |
| NVDA Nvidia Corp. | Add +19.1% | 0.38% | +0.05 |
| NFLX Netflix Inc. | Add +12.3% | 0.17% | +0.05 |
| AFL Aflac Inc. | Add +0.5% | 0.17% | +0.04 |
| META Meta Platforms Inc. Class A | Add +5.0% | 0.18% | +0.03 |
| BMY Bristol-Myers Squibb Co. | New | 0.03% | +0.03 |
| OKE Oneok Inc. | New | 0.03% | +0.03 |
| ABT Abbott Laboratories | New | 0.03% | +0.03 |
| GLD SPDR Gold Shares | New | 0.03% | +0.03 |
| XLK SS Technology Select Sector | New | 0.03% | +0.03 |
| NEM Newmont Corp. | Add +7.1% | 0.06% | +0.02 |
| T AT&T Inc. | Add +5.4% | 0.06% | +0.02 |
| VEU Vanguard Ftse All-World Ex-U | Add +24.8% | 0.06% | +0.02 |
| WFC Wells Fargo & Co. | Add +14.5% | 0.07% | +0.02 |
| QEFA STSR SPD MSC Eaf Stgfs-US Inc. | Add +43.8% | 0.04% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +8.7% | 0.12% | +0.02 |
| PSA Public Storage | Add +0.4% | 0.11% | +0.02 |
| CSCO Cisco Systems Inc. | Add +0.5% | 0.09% | +0.02 |
| GOOGL Alphabet Inc. Class A | Add +14.8% | 0.14% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +11.3% | 0.07% | +0.01 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +1.0% | 0.12% | +0.01 |
| QUAL iShares MSCI USA Quality Fac | Add +8.9% | 0.06% | +0.01 |
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 |