Managers / Q4 2025 · view latest →
Cambridge Investment Research Advisors, Inc.
CIK 0001419186 · 1776 PLEASANT PLAIN ROAD, FAIRFIELD, IA, 52556 · 641-472-5100
Reported Value
$37.8B
Q4 2025
Positions
3,812
Filings on Record
31
2019–present window
Filed
Feb 5, 2026
original filing
Summary
Cambridge Investment Research Advisors, Inc. reported $37.8B in U.S.-listed holdings across 3,812 positions for Q4 2025.
Its largest position, IVV, represents 7.8% of the portfolio.
Compared with Q3 2025, the fund opened 295 new positions and exited 198.
Portfolio Metrics
Turnover
+4.5%
vs prior filed quarter
Top-10 Concentration
+32.6%
share of reported value
Largest Position
+7.8%
Ishares
New / Exited
295 / 198
positions this quarter
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- ETP · 63.4% · $24.0B
- Common Stock · 34.0% · $12.9B
- Closed-End Fund · 1.0% · $376M
- ADR · 0.7% · $248M
- REIT · 0.6% · $227M
- Other · 0.3% · $122M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PROFESIONALLY MANAGED PORTFO AKRE | NEW | +1.07M | 1.07M | +$70M | $70M |
| BPREBLUEROCK PVT REAL ESTATE | NEW | +4.38M | 4.38M | +$66M | $66M |
| FSSLFS SPECIALTY LENDING | NEW | +622.4K | 622.4K | +$9M | $9M |
| ULUNILEVER PLC SPON | NEW | +109.2K | 109.2K | +$7M | $7M |
| OCTTAIM ETF PRODUCTS TRUST US LRGCP B10 | NEW | +94.5K | 94.5K | +$4M | $4M |
| PGIM ETF TR ACTV HY | NEW | +102.7K | 102.7K | +$4M | $4M |
| QQNITY ELECTRONICS | NEW | +36.7K | 36.7K | +$3M | $3M |
| TTETOTALENERGIES | NEW | +43.0K | 43.0K | +$3M | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
311 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IVVISHARES | TR CORE S&P500 ETF · TR S&P 500 GRWT ETF · TR MSCI USA MIN VOL · TR S&P 500 VAL ETF · TR CORE MSCI EAFE · TR CORE S&P SCP ETF · TR CORE S&P TTL STK · INC CORE MSCI EMKT · TR 20 YR TR BD ETF · GOLD TR ISHARES NEW · TR CORE S&P MCP ETF · TR RUSSELL 2000 ETF · TR CORE DIV GRWTH · TR MSCI EAFE ETF · TR CORE MSCI TOTAL · TR ISHARES SEMICDTR · TR EAFE VALUE ETF · TR S&P 100 ETF · SILVER TR ISHARES · TR MSCI USA MMENTM · U S ETF TR SHORT DURATION B · TR GLOBAL TECH ETF · TR MBS ETF · TR CORE S&P US GWT · TR MSCI EAFE MIN VL · TR MSCI USA QUALITY · TR MSCI INTL QUALTY · TR FLTG RATE NT ETF · TR CORE MSCI INTL · TR MSCI EMG MKT ETF · TR US SML CAP EQT · TR 1 3 YR TREAS BD · TR US TREAS BD ETF · TR INVESTMENT GRADE · TR ULTRA SHORT DUR · TR SELECT DIVID ETF · TR CORE S&P US VLU · TR CORE HIGH DV ETF · TR US CONSM STAPLES · TR HDG MSCI EAFE · TR CORE INTL AGGR · TR PFD AND INCM SEC · TR TIPS BD ETF · TR CORE 80/20 AGGRE · TR EAFE GRWTH ETF · TR CORE 60/40 BALAN | 7.78% | $2.9B | 26.93M |
| 2 | VOOVANGUARD INDEX FDS | S&P 500 ETF SHS · TOTAL STK MKT · GROWTH ETF · VALUE ETF · SMALL CP ETF · MID CAP ETF · LARGE CAP ETF · SM CP VAL ETF · SML CP GRW ETF | 6.92% | $2.6B | 6.53M |
| 3 | AAPLAPPLEhistory → | INC COM | 3.15% | $1.2B | 4.38M |
| 4 | NVDANVIDIA CORPORATIONhistory → | COM | 2.71% | $1.0B | 5.51M |
| 5 | CGDVCAPITAL GROUP | DIVIDEND VALUE SHS CREATION UNI · GROWTH ETF SHS CREATION UNI · GBL GROWTH EQT SHS CREATION UNI · CORE EQUITY ET SHS CREATION UNI · FIXED INCM ETF T MUNICIPAL INCOME · FIXED INCM ETF T CORE PLUS INCM · FIXED INCM ETF T MUNICIPAL HIGH I · FIXED INCM ETF T CORE BOND ETF · GLOBAL EQUITY SHS · INTL FOCUS EQT SHS CREATION UNI · INTERNATIONAL SHS | 2.61% | $987M | 27.20M |
| 6 | SPYSPDR | S&P 500 ETF TR TR UNIT · GOLD TR GOLD SHS · INDEX SHS FDS PORTFOLIO DEVLPD · INDEX SHS FDS PORTFOLIO EMG MK · S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP | 2.20% | $832M | 3.58M |
| 7 | QQQINVESCOhistory → | QQQ TR UNIT SER 1 | 2.14% | $811M | 1.32M |
| 8 | SPYMSPDR SERIES TRUST STATE STREET | SPD | 1.90% | $720M | 9.99M |
| 9 | GOOGLALPHABET | INC CAP STK CL A · INC CAP STK CL C | 1.60% | $606M | 1.93M |
| 10 | MSFTMICROSOFThistory → | CORP COM | 1.58% | $597M | 1.23M |
| 11 | AMZNAMAZONhistory → | COM INC COM | 1.48% | $560M | 2.43M |
| 12 | JPSTJ P MORGAN EXCHANGE TRADED | F ULTRA SHRT ETF · F EQUITY PREMIUM · F US QUALTY FCTR · F NASDAQ EQT PREM · F HEDGED EQUITY LA · F ACTIVE BOND ETF · F ULTRA SHT MUNCPL · F ACTIVE GROWTH · F GLOBAL SEL EQUIT · F MUNICIPAL ETF · F ACTIVE VALUE ETF · F CORE PLUS BD ETF | 1.47% | $557M | 9.84M |
| 13 | VXUSVANGUARD STAR FDS VG TLhistory → | INTL STK F | 1.27% | $480M | 6.36M |
| 14 | XLKSELECT SECTOR SPDR TR STATE STREET | TEC · FIN · ENE · HEA · UTI · COM · IND · CON | 1.27% | $479M | 5.70M |
| 15 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW · CL A | 1.17% | $444M | 787.5K |
| 16 | FTCSFIRST TR EXCHANGE-TRADED | FD CAP STRENGTH ETF · FD SHS · FD GROWTH STRENGTH · FD DORSEY WRT 5 ETF · FD FST LOW OPPT EFT · FD CORE INVESTMENT · FD DJ INTERNT IDX · ALP COM SHS · FD LNG DUR OPRTUN | 1.15% | $434M | 8.29M |
| 17 | BNDVANGUARD BD INDEX FDS | TOTAL BND MRKT · SHORT TRM BOND · INTERMED TERM · LONG TERM BOND | 1.07% | $406M | 5.39M |
| 18 | RSPINVESCO EXCHANGE TRADED | FD T S&P500 EQL WGT · FD T S&P MDCP QUALITY · FD T S&P MDCP MOMNTUM · FD T LARGE CAP GROWTH · FD T S&P500 QUALITY · FD T AEROSPACE DEFN · FD T S&P 500 TOP 50 · FD T S&P 100 EQL WIGH · FD T S&P SMLCP MOMENT | 0.90% | $342M | 2.79M |
| 19 | SCHDSCHWAB STRATEGIC | TR US DIVIDEND EQ · TR US LRG CAP ETF · TR INTL EQTY ETF · TR US SML CAP ETF | 0.81% | $306M | 11.36M |
| 20 | SPMOINVESCO EXCH TRADED FD TR II | S&P 500 MOMNTM · NASDAQ 100 ETF · S&P MIDCP LOW · S&P INTL MOMNT · S&P500 LOW VOL · S&P 500 REVENUE | 0.77% | $293M | 2.60M |
| 21 | VGTVANGUARD | WORLD FD INF TECH ETF · WORLD FD MEGA CAP VAL ETF · WORLD FD MEGA GRWTH IND · WORLD FD MEGA CAP INDEX · WORLD FD ENERGY ETF · WORLD FD ESG US STK ETF | 0.74% | $280M | 1.00M |
| 22 | IWFISHARES TR RUS | 1000 GRW ETF · 1000 ETF · MID CAP ETF · MD CP GR ETF · 1000 VAL ETF | 0.72% | $273M | 1.25M |
| 23 | AVGOBROADCOMhistory → | INC COM | 0.62% | $233M | 673.8K |
| 24 | METAMETA PLATFORMShistory → | INC CL A | 0.60% | $228M | 345.1K |
| 25 | TSLATESLAhistory → | INC COM | 0.59% | $224M | 497.7K |
| 26 | PLTRPALANTIR TECHNOLOGIEShistory → | INC CL A | 0.55% | $209M | 1.17M |
| 27 | JPMJPMORGAN CHASE & CO.history → | COM | 0.55% | $208M | 644.6K |
| 28 | COWZPACER FDS TR US CASH COWShistory → | 100 | 0.52% | $196M | 3.26M |
| 29 | VEAVANGUARD TAX-MANAGED FDS VANhistory → | FTSE DEV MKT | 0.52% | $195M | 3.13M |
| 30 | FTECFIDELITY COVINGTON TRUST | MSCI INFO TECH I · HIGH DIVID ETF · BLUE CHIP GRWTH · ENHANCED INTL · ENHANCED LARGE · ENHANCED MID | 0.50% | $190M | 3.10M |
| 31 | VIGVANGUARD SPECIALIZED FUNDShistory → | DIV APP ETF | 0.50% | $189M | 860.3K |
| 32 | RDVYFIRST TR EXCHANGE TRADED FD RISNGhistory → | DIVD ACHIV | 0.50% | $188M | 2.71M |
| 33 | LLYELI LILLY &history → | CO COM | 0.49% | $187M | 174.0K |
| 34 | VYMVANGUARD WHITEHALL FDS | HIGH DIV YLD · INTL HIGH ETF | 0.48% | $181M | 1.37M |
| 35 | DFACDIMENSIONAL ETF TRUST | US CORE EQUITY 2 · WORLD EX US CORE · US SMALL CAP ETF · US EQUITY MARKET · US CORE EQT MKT · INTL CORE EQT MK · US CORE EQUITY 1 · INTL CORE EQUITY | 0.47% | $177M | 3.90M |
| 36 | DLNWISDOMTREE | TR US LARGECAP DIVD · TR FLOATNG RAT TREA · TR US QTLY DIV GRT · TR WISDOMTREE US VA | 0.46% | $173M | 2.39M |
| 37 | FIRST TR EXCHNG TRADED FD VI FT VEST | LADDERED | 0.40% | $150M | 4.45M |
| 38 | SPROTT ASSET MANAGEMENT LP PHYSICAL | GOLD TR · SILVER · GOLD AN | 0.39% | $149M | 4.65M |
| 39 | WMTWALMARThistory → | INC COM | 0.39% | $147M | 1.32M |
| 40 | AGGISHARES TR CORE US AGGBDhistory → | ET | 0.37% | $140M | 1.40M |
| 41 | EXMOCEXXON MOBILhistory → | CORP COM | 0.37% | $139M | 1.15M |
| 42 | VVISAhistory → | INC COM CL A | 0.36% | $136M | 388.3K |
| 43 | BNDXVANGUARD CHARLOTTE FDShistory → | TOTAL INT BD ETF | 0.35% | $131M | 2.72M |
| 44 | SCHGSCHWAB STRATEGIC TR US LCAP | GR ETF · VA ETF | 0.34% | $128M | 4.01M |
| 45 | DYNFBLACKROCK ETF TRUST | ISHARES US EQUIT · ISHARES A I INNO · ISHARES US THEMA | 0.34% | $127M | 2.58M |
| 46 | MINTPIMCO | ETF TR ENHAN SHRT MA AC · ETF TR MULTISECTOR BD · DYNAMIC INCOME FD SHS | 0.33% | $125M | 2.91M |
| 47 | ABBVABBVIEhistory → | INC COM | 0.33% | $125M | 545.2K |
| 48 | FNDXSCHWAB STRATEGIC TR FUNDAMENTAL | US L · INTL · US B · EMER | 0.33% | $125M | 3.89M |
| 49 | CATCATERPILLARhistory → | INC COM | 0.32% | $123M | 213.9K |
| 50 | COSTCOSTCO WHSLhistory → | CORP NEW COM | 0.31% | $118M | 136.9K |
| 51 | PGPROCTER AND GAMBLEhistory → | CO COM | 0.28% | $105M | 735.0K |
| 52 | QUALISHARES TR MSCI USA QLThistory → | FCT | 0.27% | $101M | 508.9K |
| 53 | JAAAJANUS DETROIT STR TR HENDRSON AAAhistory → | CL | 0.26% | $98M | 1.94M |
| 54 | JNJJOHNSON & JOHNSONhistory → | COM | 0.26% | $98M | 471.4K |
| 55 | AIRRFIRST TR EXCHANGE TRADED FD RBAhistory → | INDL ETF | 0.26% | $98M | 992.1K |
| 56 | IWYISHARES TR RUS TP200history → | GR ETF | 0.26% | $97M | 349.8K |
| 57 | IBMINTERNATIONAL BUSINESS MACHShistory → | COM | 0.25% | $96M | 324.0K |
| 58 | VGITVANGUARD SCOTTSDALE FDS | INTER TERM TREAS · SHRT TRM CORP BD · SHORT TERM TREAS | 0.25% | $94M | 1.44M |
| 59 | VXFVANGUARD INDEX FDS EXTENDhistory → | MKT ETF | 0.24% | $90M | 431.9K |
| 60 | SDVYFIRST TR EXCHANGE-TRADED FD SMID RISNGhistory → | ETF | 0.24% | $90M | 2.35M |
| 61 | AMDADVANCED MICRO DEVICEShistory → | INC COM | 0.23% | $89M | 414.4K |
| 62 | HDHOME DEPOThistory → | INC COM | 0.23% | $86M | 249.0K |
| 63 | NULGNUSHARES ETF TR NUVEEN | ESG LRGCP · ESG LRGVL · ESG US · ESG INTL | 0.22% | $83M | 2.09M |
| 64 | TSMTAIWAN SEMICONDUCTOR MFG LTD SPONSOREDhistory → | ADS | 0.21% | $81M | 266.4K |
| 65 | CVXCHEVRONhistory → | CORP NEW COM | 0.21% | $80M | 526.8K |
| 66 | NFLXNETFLIXhistory → | INC COM | 0.21% | $80M | 853.7K |
| 67 | CGBLCAPITAL GROUP CORE BALANCEDhistory → | SHS | 0.21% | $80M | 2.25M |
| 68 | GDXVANECK ETF TRUST | GOLD MINERS ETF · URANIUM AND NUCL · IG FLOATING RATE | 0.21% | $78M | 1.22M |
| 69 | GSYINVESCO ACTIVELY MANAGED EXChistory → | ULTRA SHRT DUR | 0.20% | $77M | 1.53M |
| 70 | SMHVANECK ETF TRUST SEMICONDUCTRhistory → | ETF | 0.20% | $76M | 209.8K |
| 71 | FBNDFIDELITY MERRIMACKhistory → | STR TR TOTAL BD ETF | 0.20% | $75M | 1.63M |
| 72 | VCITVANGUARD SCOTTSDALE FDS INT-TERMhistory → | CORP | 0.20% | $75M | 893.3K |
| 73 | MAMASTERCARD INCORPORATEDhistory → | CL A | 0.19% | $74M | 129.0K |
| 74 | QGROAMERICAN CENTY | ETF TR INTL EQT ETF · ETF TR US SML CP VALU · ETF TR US QUALITY GROW | 0.19% | $73M | 773.8K |
| 75 | VWOVANGUARD INTL EQUITY INDEX F FTSE EMRhistory → | MKT ETF | 0.19% | $73M | 1.36M |
| 76 | IEFISHARES TR 7-10 YR TRSYhistory → | BD | 0.19% | $73M | 755.6K |
| 77 | PVALPUTNAM ETF TRUSThistory → | FOCUSED LAR CAP | 0.19% | $72M | 1.57M |
| 78 | MOATVANECK ETF TRUST MRNGSTR WDEhistory → | MOAT | 0.19% | $71M | 688.4K |
| 79 | PROFESIONALLY MANAGED PORTFO AKRE | FOCUS ETF | 0.19% | $70M | 1.07M |
| 80 | ISHARES TR CORE UNIVRSL | USD | 0.18% | $70M | 1.50M |
| 81 | SGOVISHARES TR 0-3history → | MNTH TREASRY | 0.18% | $69M | 688.5K |
| 82 | CRWDCROWDSTRIKE HLDGShistory → | INC CL A | 0.18% | $67M | 142.6K |
| 83 | TCAFT ROWE PRICEhistory → | ETF INC CAP APPRECIATION | 0.17% | $66M | 1.73M |
| 84 | VOOGVANGUARD ADMIRAL FDS | INC 500 GRTH IDX F · INC 500 VAL IDX FD | 0.17% | $66M | 208.6K |
| 85 | COWGPACER FDS | TR US LRG CP CASH · TR US SMALL CAP CAS | 0.17% | $66M | 1.68M |
| 86 | BPREBLUEROCK PVT REAL ESTATEhistory → | FD COM | 0.17% | $66M | 4.38M |
| 87 | TAT&Thistory → | INC COM | 0.17% | $63M | 2.52M |
| 88 | BBUSJ P MORGAN EXCHANGE TRADED F BETABUILDRShistory → | US | 0.16% | $62M | 504.1K |
| 89 | MCDMCDONALDShistory → | CORP COM | 0.16% | $61M | 200.7K |
| 90 | VZVERIZON COMMUNICATIONShistory → | INC COM | 0.16% | $61M | 1.50M |
| 91 | FTSMFIRST TR EXCHANGE-TRADED FD FIRSThistory → | TR ENH NEW | 0.15% | $58M | 973.2K |
| 92 | CSCOCISCO SYShistory → | INC COM | 0.15% | $58M | 756.9K |
| 93 | EA SERIES TRUST ALPHA ARC | 1-3 | 0.15% | $58M | 500.9K |
| 94 | KOCOCAhistory → | COLA CO COM | 0.15% | $57M | 821.4K |
| 95 | CIBRFIRST TR EXCHANGE TRADED FD NASDAQ CYBhistory → | ETF | 0.15% | $56M | 789.0K |
| 96 | GE | AEROSPACE COM NEW | 0.15% | $56M | 182.8K |
| 97 | MUMICRONhistory → | TECHNOLOGY INC COM | 0.15% | $56M | 197.3K |
| 98 | VHTVANGUARD WORLD FD HEALTH CARhistory → | ETF | 0.15% | $56M | 194.5K |
| 99 | VMBSVANGUARD SCOTTSDALE FDS MTG-BKDhistory → | SECS ETF | 0.15% | $55M | 1.17M |
| 100 | DIASPDR DOW JONES INDL AVERAGEhistory → | UT SER 1 | 0.15% | $55M | 114.7K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $38.8B | 3,924 | Apr 30, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $37.8B | 3,812 | Feb 5, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $36.4B | 3,715 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $32.9B | 3,608 | Jul 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $29.6B | 3,495 | Apr 22, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $29.9B | 3,460 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $29.4B | 3,409 | Oct 28, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $27.1B | 3,309 | Jul 26, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $26.0B | 3,302 | Apr 24, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $23.5B | 3,184 | Feb 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $21.4B | 3,133 | Oct 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $21.9B | 3,165 | Jul 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $20.4B | 3,149 | May 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | Under review | 3,099 | Feb 8, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $17.7B | 3,050 | Oct 17, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $18.6B | 3,040 | Jul 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $21.8B | 3,156 | May 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $22.4B | 3,165 | Feb 3, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $20.3B | 3,083 | Nov 2, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $20.9B | 3,083 | Aug 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $18.4B | 2,861 | May 7, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $17.1B | 2,705 | Feb 4, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $14.8B | 2,513 | Oct 29, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $13.3B | 2,454 | Jul 27, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $10.4B | 2,271 | May 8, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $13.0B | 2,403 | Feb 4, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $11.4B | 2,339 | Nov 6, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2019 | $10.9B | 2,199 | Aug 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $10.5B | 2,273 | May 8, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $9.0B | 2,145 | Feb 5, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.