WADDELL & ASSOCIATES, LLC

RIA/Wealth

WADDELL & ASSOCIATES, LLC is a RIA/Wealth based in Memphis, TN led by David Sewall Waddell, reporting $1.7B in AUM as of Q3 2025 with 73% ETF concentration and 65% concentrated in top 10 holdings.

CEODavid Sewall Waddell

Portfolio Value: $1.2B
Positions: 325
Top Holding: FDX at 9.03%
Last Reported: Q3 2025

Address5188 Wheelis Drive, Memphis, TN, 38117, United States

Top Holdings

Largest long holdings in WADDELL & ASSOCIATES, LLC's portfolio (65% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 FedEx FDX	Integrated Freight & Logistics Industrials	$106.1M	9.03%	+$96.5M Bought	0.19% 450.0K shares	Q3 2023 Held for 2y 2m
2 Global X U.S. Infrastructure Development PAVE	ETF ETF	$90.1M	7.67%	+$3.1M Bought	— 1.9M shares	Q2 2025 Held for 5 months
3 SPDR S&P MidCap 400 ETF MDY	ETF ETF	$88.4M	7.52%	+$2.8M Bought	— 148.3K shares	Q1 2020 Held for 5y 8m
4 WisdomTree U.S. Quality Dividend Growth Fund DGRW	ETF ETF	$87.0M	7.40%	+$2.9M Bought	— 978.1K shares	Q2 2022 Held for 3y 5m
5 Schwab Fundamental U.S. Small Company FNDA	ETF ETF	$86.7M	7.38%	+$2.9M Bought	— 2.8M shares	Q2 2019 Held for 6y 5m
6 Global X Adaptive U.S. Factor AUSF	ETF ETF	$71.7M	6.10%	+$3.9M Bought	— 1.5M shares	Q1 2025 Held for 8 months
7 DoubleLine Shiller CAPE U.S. Equities CAPE	ETF ETF	$66.9M	5.69%	+$2.1M Bought	— 2.1M shares	Q2 2022 Held for 3y 5m
8 Schwab 1000 Index ETF SCHK	ETF ETF	$65.9M	5.60%	+$2.0M Bought	— 2.1M shares	Q4 2022 Held for 2y 11m
9 iShares Core MSCI EAFE ETF IEFA	ETF ETF	$52.8M	4.49%	+$2.5M Bought	— 604.5K shares	Q1 2020 Held for 5y 8m
10 Invesco NASDAQ 100 ETF QQQM	ETF ETF	$49.0M	4.17%	+$983.0K Bought	— 198.4K shares	Q3 2022 Held for 3y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in WADDELL & ASSOCIATES, LLC's latest filing

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Market Value

$1.2B

Prior: $936.8M

Q/Q Change

+25.47%

+$238.6M

Net Flows % of MV

+14.49%

Turnover Ratio

8.06%

New Purchases

88 stocks

$26.0M

Added To

157 stocks

+$152.7M

Sold Out Of

13 stocks

$3.0M

Reduced Holdings

34 stocks

-$5.4M

Increased Positions

Position	Shares Δ	Change
1 CEFZ ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN Series B CEFZ	New	0 → 139.9K +$1.1M
2 Mastercard MA	New	0 → 1.2K +$688.3K
3 PG&E PCG	New	0 → 42.7K +$644.5K
4 Kindly MD, Inc. Common Stock NAKA	New	0 → 572.4K +$612.4K
5 Fidelity Fundamental Large Cap Growth FFLG	New	0 → 20.0K +$589.6K

Decreased Positions

Position	Shares Δ	Change
1 CarMax KMX	Sold	5.8K → 0 −$388.5K
2 Fidelity Wise Origin Bitcoin Fund FBTC	Sold	4.0K → 0 −$378.0K
3 Tyson Foods TSN	Sold	5.1K → 0 −$284.8K
4 Humana HUM	Sold	1.0K → 0 −$245.7K
5 United Parcel Service, Inc. UPS	Sold	2.3K → 0 −$228.2K

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Analytics

Portfolio insights and performance metrics for WADDELL & ASSOCIATES, LLC

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Sector Allocation

ETF

73.30%

Industrials

10.10%

Technology

5.20%

Financial Services

2.70%

Consumer Cyclical

1.80%

Healthcare

1.80%

Communication Services

1.20%

Consumer Defensive

1.10%

Energy

0.60%

Real Estate

0.40%

Utilities

0.30%

Basic Materials

0.30%

Market Cap Distribution

Mega Cap (> $200B)

8.82%

Large Cap ($10B - $200B)

15.94%

Mid Cap ($2B - $10B)

0.54%

Small Cap ($300M - $2B)

0.26%

Micro Cap ($50M - $300M)

0.01%

Nano Cap (< $50M)

0.10%

N/A (ETF or Unknown)

74.33%

Portfolio Concentration

Top 10 Holdings %

65.05%

Top 20 Holdings %

81.38%

Top 50 Holdings %

89.19%

Top 100 Holdings %

93.48%