Waddell & Associates, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Waddell & Associates, LLC reported 243 stock positions worth $936.8 million. Its top holding was State Street SPDR S&P Midcap (MDY) at 8.7% of the portfolio, followed by Global X US Infrastructure (PAVE, 8.5%) and Wisdomtree U.S. Quality Divi (DGRW, 8.5%). Compared with Q1 2025, it opened 88 new positions, sold out of 4, added to 83 and reduced 43. The biggest buy was a new position in Global X US Infrastructure (PAVE) and the biggest sale an exit from Tema U.S. Manufacturing & Re (WELD).
- Most Recent 13F
- Q2 2026
- Location
- MEMPHIS, TN
- CIK
- 0001776757
- Portfolio Value
- $936.8M (Q2 2025)
- SEC Filing
- 0001765380-25-000332 ↗ filed Aug 12, 2025
Holdings Value
Holdings 243 stocks · $936.8M
| MDY State Street SPDR S&P Midcap | 8.68% | 143,568 | $81.3M | Add +1.4% |
| PAVE Global X US Infrastructure | 8.50% | 1,826,748 | $79.6M | New |
| DGRW Wisdomtree U.S. Quality Divi | 8.46% | 946,079 | $79.2M | Add +1.5% |
| FNDA Schwab Fndmntl US SM Co. ETF | 8.22% | 2,689,433 | $77.1M | Add +2.0% |
| AUSF Global X Adaptive US Factor | 6.95% | 1,457,195 | $65.1M | Add +2.4% |
| CAPE Doubleline Shiller Cape US | 6.75% | 1,988,686 | $63.3M | Add +0.3% |
| SCHK Schwab 1000 Index ETF | 6.32% | 1,987,028 | $59.3M | Reduce -0.4% |
| IEFA iShares Core MSCI Eafe ETF | 5.13% | 575,695 | $48.1M | Add +1.6% |
| QQQM Invesco Nasdaq 100 ETF | 4.71% | 194,421 | $44.2M | Add +1.2% |
| EWX State Street SPDR S&P Emergi | 4.15% | 627,138 | $38.9M | Add +2.0% |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | 4.15% | 395,063 | $38.8M | Add +2.1% |
| AVEM Avantis Emerging Markets Eq | 3.94% | 538,794 | $36.9M | Add +1.6% |
| AAPL Apple Inc. | 1.14% | 52,120 | $10.7M | Add +3.7% |
| FDX FedEx Corp. | 0.99% | 40,608 | $9.2M | Add +0.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.92% | 14,010 | $8.7M | Add +0.9% |
| DBND Doubleline Oppor Cor BND-Usd | 0.90% | 182,433 | $8.4M | Reduce -2.5% |
| MSFT Microsoft Corp. | 0.83% | 15,690 | $7.8M | Reduce -9.9% |
| IWF iShares Russell 1000 Growth | 0.78% | 17,233 | $7.3M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.72% | 13,894 | $6.7M | Add +1.7% |
| NVDA Nvidia Corp. | 0.63% | 37,280 | $5.9M | Add +29.7% |
| CGV Conductor Global Eq Val ETF | 0.59% | 402,547 | $5.5M | Reduce -0.6% |
| VLUE iShares MSCI USA Value Facto | 0.54% | 44,553 | $5.0M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.46% | 5,558 | $4.3M | Reduce -10.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.43% | 22,810 | $4.0M | Add +30.3% |
| EFA iShares MSCI Eafe ETF | 0.43% | 44,684 | $4.0M | Reduce -0.3% |
| WMT Walmart Inc. | 0.42% | 40,037 | $3.9M | Add +2.2% |
| PSLV Sprott Physical Silver Trust | 0.40% | 305,808 | $3.7M | Reduce -7.9% |
| ACWI iShares MSCI Acwi ETF | 0.35% | 25,247 | $3.2M | No change |
| VOO Vanguard S&P 500 ETF | 0.34% | 5,671 | $3.2M | Reduce -6.2% |
| VXUS Vanguard Total Intl Stock | 0.34% | 46,556 | $3.2M | Reduce -0.8% |
| JPM JPMorgan Chase & Co. | 0.34% | 11,022 | $3.2M | Reduce -7.2% |
| GOOG Alphabet Inc. Class C | 0.32% | 16,713 | $3.0M | Add +17.5% |
| AZO AutoZone Inc. | 0.30% | 751 | $2.8M | Reduce -2.9% |
| HD Home Depot Inc. | 0.26% | 6,758 | $2.5M | Add +3.7% |
| IYW iShares Ustechnology ETF | 0.24% | 13,098 | $2.3M | Reduce -0.1% |
| META Meta Platforms Inc. Class A | 0.22% | 2,815 | $2.1M | Add +12.2% |
| NFLX Netflix Inc. | 0.21% | 1,470 | $2.0M | Add +0.4% |
| XOM Exxon Mobil Corp. | 0.19% | 16,246 | $1.8M | Reduce -3.3% |
| PHYS Sprott Physical Gold Trust | 0.19% | 68,747 | $1.7M | Reduce -1.2% |
| VT Vanguard Tot World STK ETF | 0.18% | 13,229 | $1.7M | Reduce -0.1% |
| ORCL Oracle Corp. | 0.18% | 7,657 | $1.7M | Reduce -13.0% |
| DFAE Dimensional Emerging Core Eq | 0.17% | 53,533 | $1.5M | Add +1.3% |
| PG The Procter & Gamble Co. | 0.16% | 9,338 | $1.5M | Add +0.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.16% | 2,682 | $1.5M | Add +32.0% |
| AMZN Amazon.com Inc. | 0.15% | 6,470 | $1.4M | Add +40.7% |
| CEF Sprott Physical Gold and Sil | 0.15% | 45,877 | $1.4M | Reduce -0.6% |
| WTAI Wisdomtree AI and Innovation | 0.14% | 53,221 | $1.3M | Reduce -0.8% |
| AFL Aflac Inc. | 0.14% | 12,370 | $1.3M | Add +0.6% |
| GOOGL Alphabet Inc. Class A | 0.13% | 7,164 | $1.3M | Reduce -3.7% |
| ARTY iShares Future AI & Tech ETF | 0.13% | 30,735 | $1.3M | No change |
| JNJ Johnson & Johnson | 0.13% | 8,209 | $1.3M | Add +27.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 4,131 | $1.2M | Add +0.8% |
| RCAT Red Cat Holdings Inc. | 0.13% | 165,260 | $1.2M | No change |
| V Visa Inc. Class A | 0.13% | 3,338 | $1.2M | Add +13.6% |
| RSP Invesco S&P 500 Equal Weight | 0.12% | 6,408 | $1.2M | New |
| GE General Electric filed as GE AEROSPACE | 0.12% | 4,522 | $1.2M | Add +72.9% |
| PSA Public Storage | 0.12% | 3,903 | $1.1M | Add +29.0% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.11% | 19,506 | $1.1M | Reduce -0.7% |
| ALL Allstate Corp. | 0.11% | 5,002 | $1.0M | Add +9.9% |
| KO The Coca-Cola Co. | 0.11% | 13,944 | $987K | Reduce -15.6% |
| MRK Merck & Co. Inc. | 0.10% | 12,326 | $976K | Add +99.6% |
| AVGO Broadcom Inc. | 0.10% | 3,436 | $947K | Add +64.3% |
| CVX Chevron Corp. | 0.10% | 6,595 | $944K | Reduce -31.9% |
| TSLA Tesla Inc. | 0.10% | 2,902 | $922K | Add +39.8% |
| VRSN Verisign Inc. | 0.09% | 2,936 | $848K | Add +193.6% |
| AXP American Express Co. | 0.09% | 2,628 | $838K | Add +7.9% |
| CSCO Cisco Systems Inc. | 0.09% | 11,681 | $810K | Add +1.4% |
| FTNT Fortinet Inc. | 0.08% | 7,354 | $777K | Add +110.1% |
| RF Regions Financial Corp. | 0.08% | 32,574 | $766K | No change |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | 0.08% | 18,725 | $762K | Add +7.3% |
| EW Edwards Lifesciences Corp. | 0.08% | 9,474 | $741K | Reduce -0.4% |
| AMAT Applied Materials Inc. | 0.08% | 4,015 | $735K | Add +21.6% |
| PEP Pepsico Inc. | 0.08% | 5,565 | $735K | Add +54.6% |
| GS Goldman Sachs Group Inc. | 0.08% | 1,024 | $725K | Add +2.5% |
| PM Philip Morris International | 0.08% | 3,886 | $708K | Add +102.1% |
| BKNG Booking Holdings Inc. | 0.08% | 122 | $706K | Add +9.9% |
| ORLY O'reilly Automotive Inc. | 0.07% | 7,650 | $689K | Add +3.7% |
| RBLX Roblox Corp. Class A | 0.07% | 6,536 | $688K | New |
| GEV GE Vernova Inc. | 0.07% | 1,250 | $661K | New |
| SNOW Snowflake Inc. | 0.07% | 2,944 | $659K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 13,786 | $652K | Add +23.0% |
| COHR Coherent Corp. | 0.07% | 7,150 | $638K | No change |
| WST West Pharmaceutical Services | 0.07% | 2,912 | $637K | Add +0.4% |
| NEM Newmont Corp. | 0.07% | 10,907 | $635K | Add +15.7% |
| VRT Vertiv Holdings Co. Class A | 0.07% | 4,886 | $627K | Add +35.9% |
| GD General Dynamics Corp. | 0.07% | 2,115 | $617K | Add +33.4% |
| INTC Intel Corp. | 0.07% | 27,378 | $613K | Add +88.4% |
| SCI Service Corp. International | 0.06% | 7,468 | $608K | Add +24.3% |
| USMV iShares MSCI USA Min Vol Fac | 0.06% | 6,470 | $607K | Reduce -2.1% |
| WFC Wells Fargo & Co. | 0.06% | 7,571 | $607K | Reduce -7.6% |
| MCD McDonald's Corp. | 0.06% | 2,071 | $605K | Reduce -2.1% |
| LOW Lowe's Cos Inc. | 0.06% | 2,726 | $605K | Add +0.6% |
| PGR Progressive Corp. | 0.06% | 2,244 | $599K | Add +6.0% |
| PNC PNC Financial Services Group | 0.06% | 3,193 | $595K | New |
| MO Altria Group Inc. | 0.06% | 9,884 | $580K | Reduce -11.6% |
| BA The Boeing Co. | 0.06% | 2,764 | $579K | New |
| SPGI S&P Global Inc. | 0.06% | 1,071 | $565K | Add +34.4% |
| GSIE Goldman Sachs Activebeta Int | 0.06% | 14,192 | $563K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.06% | 1,850 | $562K | Add +4.2% |
| AIQ Global X Art Intel & Tech | 0.06% | 12,639 | $552K | New |
Portfolio Sells Q1 2025 → Q2 2025
| WELD Tema U.S. Manufacturing & Re | Sold out | 0.00% | −8.63 |
| SCHK Schwab 1000 Index ETF | Reduce -0.4% | 6.32% | −0.19 |
| LLY Eli Lilly & Co. | Reduce -10.6% | 0.46% | −0.16 |
| DBND Doubleline Oppor Cor BND-Usd | Reduce -2.5% | 0.90% | −0.15 |
| CVX Chevron Corp. | Reduce -31.9% | 0.10% | −0.10 |
| CHAT Roundhill Gen AI & Tech ETF | Sold out | 0.00% | −0.08 |
| PSLV Sprott Physical Silver Trust | Reduce -7.9% | 0.40% | −0.07 |
| AZO AutoZone Inc. | Reduce -2.9% | 0.30% | −0.06 |
| XOM Exxon Mobil Corp. | Reduce -3.3% | 0.19% | −0.06 |
| CL Colgate-Palmolive Co. | Reduce -49.7% | 0.03% | −0.05 |
| IFF Intl Flavors & Fragrances | Sold out | 0.00% | −0.04 |
| VLUE iShares MSCI USA Value Facto | Reduce -0.6% | 0.54% | −0.04 |
| KO The Coca-Cola Co. | Reduce -15.6% | 0.11% | −0.04 |
| VOO Vanguard S&P 500 ETF | Reduce -6.2% | 0.34% | −0.03 |
| OKE Oneok Inc. | Sold out | 0.00% | −0.03 |
| CGV Conductor Global Eq Val ETF | Reduce -0.6% | 0.59% | −0.02 |
| MO Altria Group Inc. | Reduce -11.6% | 0.06% | −0.02 |
| EFA iShares MSCI Eafe ETF | Reduce -0.3% | 0.43% | −0.02 |
| IOO iShares Global 100 ETF | Reduce -33.5% | 0.03% | −0.02 |
| PHYS Sprott Physical Gold Trust | Reduce -1.2% | 0.19% | −0.02 |
| MCD McDonald's Corp. | Reduce -2.1% | 0.06% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -7.2% | 0.34% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -25.1% | 0.02% | −0.01 |
| ELV Elevance Health Inc. | Reduce -8.9% | 0.03% | −0.01 |
| CEF Sprott Physical Gold and Sil | Reduce -0.6% | 0.15% | −0.01 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -2.1% | 0.06% | −0.01 |
| QUAL iShares MSCI USA Quality Fac | Reduce -11.3% | 0.05% | −0.01 |
| VXUS Vanguard Total Intl Stock | Reduce -0.8% | 0.34% | −0.01 |
| DUK Duke Energy Corp. | Reduce -1.4% | 0.05% | −0.01 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -0.7% | 0.11% | −0.01 |
| T AT&T Inc. | Reduce -4.3% | 0.05% | −0.01 |
| WFC Wells Fargo & Co. | Reduce -7.6% | 0.06% | −0.01 |
| VT Vanguard Tot World STK ETF | Reduce -0.1% | 0.18% | −0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -3.7% | 0.13% | −0.00 |
| EW Edwards Lifesciences Corp. | Reduce -0.4% | 0.08% | −0.00 |
| GLD SPDR Gold Shares | Reduce -9.7% | 0.02% | −0.00 |
| VWO Vanguard Ftse Emerging Marke | Reduce -10.6% | 0.02% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -15.4% | 0.02% | −0.00 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -2.5% | 0.03% | −0.00 |
| MS Morgan Stanley | Reduce -10.8% | 0.04% | −0.00 |
| EEM iShares MSCI Emerging Market | Reduce -0.7% | 0.06% | −0.00 |
| DAL Delta Air Lines Inc. | Reduce -3.4% | 0.03% | −0.00 |
| XLK SS Technology Select Sector | Reduce -3.5% | 0.03% | +0.00 |
| WTAI Wisdomtree AI and Innovation | Reduce -0.8% | 0.14% | +0.02 |
| IYW iShares Ustechnology ETF | Reduce -0.1% | 0.24% | +0.02 |
| ORCL Oracle Corp. | Reduce -13.0% | 0.18% | +0.03 |
| MSFT Microsoft Corp. | Reduce -9.9% | 0.83% | +0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| PAVE Global X US Infrastructure | New | 8.50% | +8.50 |
| IWF iShares Russell 1000 Growth | New | 0.78% | +0.78 |
| NVDA Nvidia Corp. | Add +29.7% | 0.63% | +0.25 |
| QQQM Invesco Nasdaq 100 ETF | Add +1.2% | 4.71% | +0.21 |
| RSP Invesco S&P 500 Equal Weight | New | 0.12% | +0.12 |
| RBLX Roblox Corp. Class A | New | 0.07% | +0.07 |
| GEV GE Vernova Inc. | New | 0.07% | +0.07 |
| SNOW Snowflake Inc. | New | 0.07% | +0.07 |
| AVEM Avantis Emerging Markets Eq | Add +1.6% | 3.94% | +0.07 |
| PNC PNC Financial Services Group | New | 0.06% | +0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +30.3% | 0.43% | +0.06 |
| BA The Boeing Co. | New | 0.06% | +0.06 |
| GE General Electric | Add +72.9% | 0.12% | +0.06 |
| VRSN Verisign Inc. | Add +193.6% | 0.09% | +0.06 |
| AIQ Global X Art Intel & Tech | New | 0.06% | +0.06 |
| AVGO Broadcom Inc. | Add +64.3% | 0.10% | +0.06 |
| ANET Arista Networks Inc. | New | 0.06% | +0.06 |
| INCY Incyte Corp. | New | 0.06% | +0.06 |
| DASH DoorDash Inc. Class A | New | 0.05% | +0.05 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | Add +2.1% | 4.15% | +0.05 |
| ADBE Adobe Inc. | New | 0.05% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +17.5% | 0.32% | +0.05 |
| COF Capital One Financial Corp. | New | 0.05% | +0.05 |
| META Meta Platforms Inc. Class A | Add +12.2% | 0.22% | +0.05 |
| AMZN Amazon.com Inc. | Add +40.7% | 0.15% | +0.05 |
| LMT Lockheed Martin Corp. | New | 0.04% | +0.04 |
| NFLX Netflix Inc. | Add +0.4% | 0.21% | +0.04 |
| C Citigroup Inc. | New | 0.04% | +0.04 |
| GM General Motors Co. | New | 0.04% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +32.0% | 0.16% | +0.04 |
| FTNT Fortinet Inc. | Add +110.1% | 0.08% | +0.04 |
| KMX Carmax Inc. | New | 0.04% | +0.04 |
| MNST Monster Beverage Corp. | New | 0.04% | +0.04 |
| EXR Extra Space Storage Inc. | New | 0.04% | +0.04 |
| EXPE Expedia Group Inc. | New | 0.04% | +0.04 |
| DKNG Draftkings Inc. Class A | New | 0.04% | +0.04 |
| CB Chubb Ltd. | New | 0.04% | +0.04 |
| FTI Technipfmc PLC | New | 0.04% | +0.04 |
| PM Philip Morris International | Add +102.1% | 0.08% | +0.04 |
| ABNB Airbnb Inc. Class A | New | 0.04% | +0.04 |
| LYFT LYFT Inc. Class A | New | 0.04% | +0.04 |
| MRK Merck & Co. Inc. | Add +99.6% | 0.10% | +0.04 |
| SCHX Schwab US Large-Cap ETF | New | 0.04% | +0.04 |
| VRT Vertiv Holdings Co. Class A | Add +35.9% | 0.07% | +0.04 |
| PANW Palo Alto Networks Inc. | New | 0.04% | +0.04 |
| BMRN Biomarin Pharmaceutical Inc. | New | 0.03% | +0.03 |
| FIX Comfort Systems USA Inc. | New | 0.03% | +0.03 |
| TSLA Tesla Inc. | Add +39.8% | 0.10% | +0.03 |
| DELL Dell Technologies -C | New | 0.03% | +0.03 |
| MMM 3M Co. | New | 0.03% | +0.03 |
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 |