IWL vs EQWL overlap
IWL and EQWL overlap 46.5% by weight, across 100 shared holdings.
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Top shared holdings
| Holding | IWL | EQWL | Overlap |
|---|---|---|---|
| Microsoft Corp.MSFT | 4.99% | 1.13% | 1.13% |
| JPMorgan ChaseJPM | 1.57% | 1.11% | 1.11% |
| Amazon.COM Inc.AMZN | 4.16% | 1.11% | 1.11% |
| Johnson&JohnsonJNJ | 1.10% | 1.04% | 1.04% |
| Apple Inc.AAPL | 7.53% | 1.03% | 1.03% |
| Berkshire HATH-BBRK/B | 1.68% | 1.03% | 1.03% |
| ADV Micro DeviceAMD | 1.70% | 1.02% | 1.02% |
| VISA Inc.-Class aV | 1.02% | 1.10% | 1.02% |
| Broadcom Inc.AVGO | 3.16% | 1.01% | 1.01% |
| Exxon Mobil Corp.XOM | 1.02% | 1.00% | 1.00% |
| Applied MaterialAMAT | 1.03% | 0.99% | 0.99% |
| ELI Lilly & CoLLY | 1.72% | 0.98% | 0.98% |
| Nvidia Corp.NVDA | 8.40% | 0.97% | 0.97% |
| META Platforms-aMETA | 2.23% | 0.95% | 0.95% |
| Micron TechMU | 2.34% | 0.89% | 0.89% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: IWL, SEC Form N-PORT, June 30, 2026; EQWL, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | IWL | EQWL |
|---|---|---|
| LPL Financial LLC | $66.5M | $258.2M |
| Morgan Stanley | $125.1M | $100.8M |
| Ameriprise Financial Inc. | $73.2M | $67.4M |
| Envestnet Asset Management Inc. | $2.0M | $138.0M |
| Bank of America Corp. | $92.5M | $46.4M |
| Cambridge Investment Research Advisors, Inc. | $46.9M | $47.0M |
| Cetera Investment Advisers | $7.8M | $82.4M |
| Osaic Holdings, Inc. | $16.1M | $67.4M |
| Jones Financial Companies LLLP | $150K | $50.8M |
| Commonwealth Equity Services, LLC | $26.2M | $16.3M |
| Raymond James Financial Inc. | $5.1M | $33.2M |
| JPMorgan Chase & Co | $34.3M | $3.8M |
| Royal Bank of Canada | $25.5M | $9.2M |
| Private Advisor Group, LLC | $2.4M | $30.0M |
| Integrated Wealth Concepts LLC | $21.0M | $7.2M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: IWL institutional holders, EQWL institutional holders.
Frequently asked questions
How much do IWL and EQWL overlap?
46.5% by weight, with 100 holdings in common, using holdings for IWL as of June 30, 2026 and EQWL as of July 31, 2026. The largest shared position is MSFT.
Do institutions hold both IWL and EQWL?
71 Form 13F filers report positions in both, out of 365 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.