WEDBUSH MORGAN SECURITIES INC

RIA/Wealth

WEDBUSH MORGAN SECURITIES INC is a RIA/Wealth based in Los Angeles, CA led by Donald Wayne Hultgren, reporting $5.7B in AUM as of Q3 2025 with 35% ETF concentration.

ChairmanDonald Wayne Hultgren

Portfolio Value: $2.9B
Positions: 934
Top Holding: VOO at 12.25%
Last Reported: Q3 2025

AddressAttn: Compliance Dept., 1000 Wilshire Blvd. Suite 900, Los Angeles, CA, 90017, United States

Top Holdings

Largest long holdings in WEDBUSH MORGAN SECURITIES INC's portfolio (41.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Vanguard S&P 500 ETF VOO	ETF ETF	$352.1M	12.25%	+$5.9M Bought	— 575.0K shares	Q3 2016 Held for 9y 2m
2 Apple AAPL	Consumer Electronics Technology	$207.3M	7.21%	-$5.4M Sold	0.01% 814.0K shares	≤ Q2 2013 Held for 12y 5m+
3 Nvidia NVDA	Semiconductors Technology	$172.1M	5.99%	-$2.4M Sold	0.00% 922.5K shares	Q4 2016 Held for 8y 11m
4 Microsoft MSFT	Software - Infrastructure Technology	$105.6M	3.67%	-$1.4M Sold	0.00% 203.8K shares	≤ Q2 2013 Held for 12y 5m+
5 Costco Wholesale COST	Discount Stores Consumer Defensive	$104.3M	3.63%	-$2.4M Sold	0.03% 112.6K shares	≤ Q2 2013 Held for 12y 5m+
6 Amazon AMZN	Specialty Retail Consumer Cyclical	$89.1M	3.10%	+$134.4K Bought	0.00% 405.8K shares	≤ Q2 2013 Held for 12y 5m+
7 Invesco QQQ Trust QQQ	ETF ETF	$42.2M	1.47%	+$1.3M Bought	— 70.4K shares	≤ Q2 2013 Held for 12y 5m+
8 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$39.9M	1.39%	+$686.5K Bought	0.00% 164.0K shares	≤ Q2 2013 Held for 12y 5m+
9 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$36.7M	1.28%	+$193.9K Bought	0.00% 49.9K shares	≤ Q2 2013 Held for 12y 5m+
10 SPDR S&P 500 ETF Trust SPY	ETF ETF	$35.5M	1.24%	+$1.0M Bought	— 53.3K shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in WEDBUSH MORGAN SECURITIES INC's latest filing

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Market Value

$2.9B

Prior: $2.7B

Q/Q Change

+7.33%

+$196.2M

Net Flows % of MV

-0.745%

Turnover Ratio

5.96%

New Purchases

62 stocks

$21.4M

Added To

411 stocks

+$131.5M

Sold Out Of

105 stocks

$40.9M

Reduced Holdings

365 stocks

-$133.5M

Increased Positions

Position	Shares Δ	Change
1 Avantis Emerging Markets Equity AVEM	New	0 → 35.3K +$2.7M
2 SharpLink Gaming SBET	New	0 → 145.5K +$2.5M
3 Willis Lease Finance WLFC	New	0 → 9.3K +$1.3M
4 SNDK Sandisk Corporation Common Stock SNDK	New	0 → 10.5K +$1.2M
5 SNDK SanDisk SNDK	New	0 → 10.5K +$1.2M

Decreased Positions

Position	Shares Δ	Change
1 Pacer US Small Cap Cash Cows 100 CALF	Sold	158.5K → 0 −$6.3M
2 Touchstone Ultra Short Income TUSI	Sold	120.0K → 0 −$3.0M
3 Franklin Bitcoin ETF EZBC	Sold	39.6K → 0 −$2.5M
4 FT Vest U.S. Equity Moderate Buffer ETF GOCT	Sold	59.2K → 0 −$2.2M
5 LyondellBasell Industries N.V. LYB	Sold	26.8K → 0 −$1.6M

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Analytics

Portfolio insights and performance metrics for WEDBUSH MORGAN SECURITIES INC

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Sector Allocation

ETF

34.90%

Technology

25.20%

Financial Services

7.40%

Consumer Cyclical

7.20%

Consumer Defensive

5.60%

Communication Services

5.50%

Industrials

4.70%

Healthcare

4.20%

Energy

2.00%

Utilities

1.50%

Real Estate

0.90%

Basic Materials

0.70%

Market Cap Distribution

Mega Cap (> $200B)

44.26%

Large Cap ($10B - $200B)

18.04%

Mid Cap ($2B - $10B)

1.13%

Small Cap ($300M - $2B)

1.24%

Micro Cap ($50M - $300M)

0.26%

Nano Cap (< $50M)

0.19%

N/A (ETF or Unknown)

34.87%

Portfolio Concentration

Top 10 Holdings %

41.21%

Top 20 Holdings %

50.49%

Top 50 Holdings %

62.62%

Top 100 Holdings %

72.16%