Commonwealth Equity Services, Inc

CIK 0001333978 · Q3 2017

13F Equity AUM

$16.7T

+106094.8% QoQ

Positions

2,561

+48 QoQ

AUM Rank

—

Skill Alpha (FF)

-0.4%/yr^ns

No Clear Edge

Rank #3,386 · Top 41%

vs S&P -2.6%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 12.5%Top 10: 18.6%Top 20: 27.1%

IWF3.0%

IWD2.8%

VEA2.5%

AAPL2.4%

VTI1.8%

IVV1.5%

SPY1.4%

BRK/B1.1%

POWERSHARES QQQ TRUST1.1%

XOM1.1%

Others (2551)81.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services58.7%

Technology5.8%

Unclassified4.9%

Healthcare4.9%

Industrials4.3%

Consumer Defensive3.8%

Fund3.5%

Communication Services3.5%

Other10.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 2561Median: 0.01%Avg: 0.04%

0–0.5%

2520(59.9%)

0.5–1%

31(21.6%)

1–3%

9(15.5%)

3–5%

1(3.0%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 1,795Unique: 766vs 20 funds

30.8%Moderate

2,561

Fund positions

5,068

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 10 benchmark funds with highest portfolio overlap (Jaccard similarity)

PARAMETRIC PORTFOLIO ASSOCIATES LLC

27.6%

TEACHERS ADVISORS, LLC

26.3%

TIAA CREF INVESTMENT MANAGEMENT LLC

26.1%

Aperio Group, LLC

31.1%

PEAK6 Investments, L.P.

29.7%

SUNTRUST BANKS INC

34.4%

OppenheimerFunds, Inc.

27%

EATON VANCE MANAGEMENT

28.2%

PICTET ASSET MANAGEMENT LTD

24.1%

Marshall Wace North America L.P.

17.8%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New165Increased1386Decreased862Exited117

New Positions

DOWDUPONT INC0.3%

+679K

JRI0.0%

+102K

SENSATA TECHNOLOGIES…0.0%

+33K

QEFA0.0%

+22K

DLHC0.0%

+362K

CDL0.0%

+53K

PROSHARES TR0.0%

+115K

BACR 0 07/26/22 00050.0%

+1.1M

ANDEAVOR0.0%

+16K

CFX0.0%

+33K

Increased

FDRR0.1%

+288K(+156%)

VTI1.8%

+273K(+13%)

BSV0.7%

+249K(+19%)

VEA2.5%

+224K(+2%)

FSICUSD0.6%

+220K(+2%)

IXUS0.7%

+211K(+13%)

BBVA0.0%

+178K(+150%)

IJR0.9%

+151K(+8%)

T0.9%

+151K(+4%)

MOAT0.1%

+144K(+230%)

Decreased

HEFA0.2%

-266,384(-21%)

USO0.0%

-251,973(-67%)

IYE0.1%

-200,106(-44%)

DHS0.1%

-142,177(-52%)

BB30.0%

-135,056(-59%)

BGCPEUR0.0%

-127,757(-75%)

RYDEX ETF TRUST0.0%

-122,354(-84%)

FDL0.0%

-121,175(-35%)

POWERSHARES ETF TR I…0.0%

-115,566(-83%)

MHNC0.0%

-111,542(-43%)

Exited

DOW CHEM CO

-391,276

DU PONT E I DE NEMOU…

-225,763

REYNOLDS AMERICAN IN…

-155,176

PROSHARES TR

-188,349

WHOLE FOODS MKT INC

-62,917

DUPONT FABROS TECHNO…

-23,934

STAPLES INC

-124,970

MONOGRAM RESIDENTIAL…

-144,840

ISHARES

-64,513

TESORO CORP

-18,067

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...