COMMONWEALTH EQUITY SERVICES LLC
Q4 2025 Form 13-F
WALTHAM, MASSACHUSETTS
CIK 0000312272
· CRD 8032
· SEC-registered investment adviser
$75.0B Reported Value Total
COMMONWEALTH FINANCIAL NETWORK reports 671,650 total accounts under management (AUM). There are 649,376 discretionary accounts valued at $203,269,761,254, and 22,274 non-discretionary accounts valued at $6,465,578,222.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-09-29
Reported value
$75.0B
Quarter over quarter
+1.9%
Holdings
4,271
Top-10 concentration
18.8%
Key People
Form ADV owners & control persons
Wayne Michael Bloom
MANAGING DIRECTOR, CHIEF EXECUTIVE OFFICER
Jonathan Christiaan Bohs
MANAGING PRINCIPAL, OPERATIONS
Jonathan C. Cleasby
CHIEF FINANCIAL OFFICER
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Q4 2025 13F record
Q4 2025 13F filing summary
| Period of report | December 31, 2025 |
|---|---|
| Filed | February 12, 2026 |
| Form | 13F-HR |
| Reported value | $75.0B |
| Positions | 4,271 |
| Change in reported value | -2.8% |
| New positions | 261 |
| Exited positions | 224 |
| Position turnover | 10.8% |
| Top-10 concentration | 18.8% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Jul 29, 2026
|
4,415 | $79.5B |
|
Q1 2026 13F
Filed Apr 27, 2026
|
4,299 | $71.6B |
|
Q4 2025 13F
Filed Feb 12, 2026
|
4,271 | $75.0B |
|
Q3 2025 13F
Filed Oct 22, 2025
|
4,231 | $77.2B |
|
Q2 2025 13F
Filed Aug 6, 2025
|
4,246 | $75.7B |
|
Q1 2025 13F
Filed May 9, 2025
|
4,170 | $70.7B |
|
Q4 2024 13F
Filed Feb 10, 2025
|
4,086 | $68.4B |
|
Q3 2024 13F
Filed Oct 18, 2024
|
4,052 | $66.0B |
|
Q2 2024 13F
Filed Jul 31, 2024
|
4,030 | $63.2B |
|
Q1 2024 13F
Filed Apr 29, 2024
|
4,016 | $60.2B |
|
Q4 2023 13F
Filed Feb 6, 2024
|
3,893 | $54.6B |
|
Q3 2023 13F
Filed Oct 23, 2023
|
3,821 | $48.3B |
|
Q2 2023 13F
Filed Aug 10, 2023
|
3,829 | $49.2B |
|
Q1 2023 13F
Filed May 11, 2023
|
3,770 | $47.6B |
|
Q4 2022 13F
Filed Feb 7, 2023
|
3,697 | $41.6B |
|
Q3 2022 13F
Filed Nov 14, 2022
|
3,656 | $38.8B |
|
Q2 2022 13F
Filed Jul 19, 2022
|
3,658 | $38.4B |
|
Q1 2022 13F
Filed May 4, 2022
|
3,704 | $43.7B |
|
Q4 2021 13F
Filed Jan 31, 2022
|
3,643 | $44.4B |
|
Q3 2021 13F
Filed Oct 29, 2021
|
3,572 | $39.8B |
15 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q4 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | AAPL APPLE INC | $2.6B | 3.49% |
| 2 | IVV ISHARES TR | $1.9B | 2.49% |
| 3 | NVDA NVIDIA CORPORATION | $1.8B | 2.44% |
| 4 | MSFT MICROSOFT CORP | $1.5B | 2.03% |
| 5 | QQQ INVESCO QQQ TR | $1.2B | 1.63% |
| 6 | SPY SPDR S&P 500 ETF TR | $1.2B | 1.58% |
| 7 | AMZN AMAZON COM INC | $1.1B | 1.45% |
| 8 | VEA VANGUARD TAX-MANAGED FDS | $1.1B | 1.42% |
| 9 | IWF ISHARES TR | $859.6M | 1.15% |
| 10 | VOO VANGUARD INDEX FDS | $845.0M | 1.13% |
| 11 | VUG VANGUARD INDEX FDS | $805.7M | 1.07% |
| 12 | VTI VANGUARD INDEX FDS | $777.9M | 1.04% |
| 13 | GOOGL ALPHABET INC | $702.2M | 0.94% |
| 14 | BRK-B BERKSHIRE HATHAWAY INC DEL | $700.7M | 0.93% |
| 15 | CGGR CAPITAL GROUP GROWTH ETF | $586.7M | 0.78% |
| 16 | VIG VANGUARD SPECIALIZED FUNDS | $565.1M | 0.75% |
| 17 | CGDV CAPITAL GROUP DIVIDEND VALUE | $539.2M | 0.72% |
| 18 | GOOG ALPHABET INC | $533.1M | 0.71% |
| 19 | VTV VANGUARD INDEX FDS | $518.1M | 0.69% |
| 20 | DGRO ISHARES TR | $504.5M | 0.67% |
Values as reported on the Q4 2025 Form 13F. Every position is in the holdings table below.