IWL vs GPIQ overlap
IWL and GPIQ overlap 56.1% by weight, across 62 shared holdings.
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Top shared holdings
| Holding | IWL | GPIQ | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 8.40% | 7.47% | 7.47% |
| Apple Inc.AAPL | 7.53% | 6.59% | 6.59% |
| Amazon.COM Inc.AMZN | 4.16% | 4.20% | 4.16% |
| Microsoft Corp.MSFT | 4.99% | 3.95% | 3.95% |
| Alphabet Inc.-aGOOGL | 3.75% | 3.54% | 3.54% |
| Broadcom Inc.AVGO | 3.16% | 2.68% | 2.68% |
| Alphabet Inc.-CGOOG | 3.02% | 2.56% | 2.56% |
| Micron TechMU | 2.34% | 5.62% | 2.34% |
| META Platforms-aMETA | 2.23% | 2.77% | 2.23% |
| Tesla Inc.TSLA | 2.21% | 3.17% | 2.21% |
| ADV Micro DeviceAMD | 1.70% | 4.10% | 1.70% |
| Intel Corp.INTC | 1.10% | 3.01% | 1.10% |
| Applied MaterialAMAT | 1.03% | 2.51% | 1.03% |
| LAM ResearchLRCX | 0.97% | 2.36% | 0.97% |
| Walmart Inc.WMT | 0.89% | 2.12% | 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; GPIQ, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | IWL | GPIQ |
|---|---|---|
| LPL Financial LLC | $66.5M | $171.5M |
| Bank of America Corp. | $92.5M | $144.6M |
| Morgan Stanley | $125.1M | $825K |
| Wells Fargo & Company | $12.8M | $71.4M |
| HighTower Advisors, LLC | $12.4M | $71.7M |
| Ameriprise Financial Inc. | $73.2M | $6.2M |
| Royal Bank of Canada | $25.5M | $45.1M |
| UBS Group AG | $14.0M | $51.3M |
| Cambridge Investment Research Advisors, Inc. | $46.9M | $7.5M |
| Susquehanna International Group, LLP | $8.7M | $44.1M |
| Commonwealth Equity Services, LLC | $26.2M | $21.3M |
| Raymond James Financial Inc. | $5.1M | $37.6M |
| Osaic Holdings, Inc. | $16.1M | $23.0M |
| JPMorgan Chase & Co | $34.3M | $376K |
| Wealth Enhancement Advisory Services, LLC | $1.4M | $29.6M |
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, GPIQ institutional holders.
Frequently asked questions
How much do IWL and GPIQ overlap?
56.1% by weight, with 62 holdings in common, using holdings for IWL as of June 30, 2026 and GPIQ as of June 30, 2026. The largest shared position is NVDA.
Do institutions hold both IWL and GPIQ?
72 Form 13F filers report positions in both, out of 459 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%.