NULV vs FLQL overlap
NULV and FLQL overlap 18.7% by weight, across 25 shared holdings.
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Top shared holdings
| Holding | NULV | FLQL | Overlap |
|---|---|---|---|
| Microsoft Corp.MSFT | 8.74% | 3.82% | 3.82% |
| META Platforms-aMETA | 3.55% | 1.81% | 1.81% |
| Abbvie Inc.ABBV | 1.89% | 1.66% | 1.66% |
| Cisco SystemsCSCO | 2.53% | 1.52% | 1.52% |
| Citigroup Inc.C | 2.00% | 1.35% | 1.35% |
| Morgan StanleyMS | 2.04% | 1.30% | 1.30% |
| Goldman Sachs GPGS | 1.57% | 1.29% | 1.29% |
| Verizon CommunicVZ | 1.65% | 1.04% | 1.04% |
| Analog DevicesADI | 1.41% | 0.79% | 0.79% |
| Pfizer Inc.PFE | 1.49% | 0.70% | 0.70% |
| Bank NY MellonBNY | 1.69% | 0.63% | 0.63% |
| Prologis Inc.PLD | 1.24% | 0.50% | 0.50% |
| Merck & CoMRK | 0.31% | 1.28% | 0.31% |
| Electronic ARTSEA | 0.94% | 0.28% | 0.28% |
| Target Corp.TGT | 1.55% | 0.27% | 0.27% |
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: NULV, SEC Form N-PORT, July 31, 2026; FLQL, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | NULV | FLQL |
|---|---|---|
| Bank of America Corp. | $590.1M | $141.5M |
| TIAA-CREF Individual & Institutional Services, LLC | $251.7M | $322K |
| LPL Financial LLC | $96.3M | $68.7M |
| JPMorgan Chase & Co | $111.2M | $35.5M |
| Sanctuary Advisors, LLC | $407K | $131.6M |
| Morgan Stanley | $64.7M | $45.3M |
| Bank of New York Mellon Corp | $24.3M | $84.5M |
| Steward Partners Investment Advisory, LLC | $632K | $93.2M |
| Envestnet Asset Management Inc. | $55.0M | $10.8M |
| Commonwealth Equity Services, LLC | $60.4M | $3.5M |
| Cambridge Investment Research Advisors, Inc. | $45.3M | $12.9M |
| Cetera Investment Advisers | $9.3M | $47.6M |
| Raymond James Financial Inc. | $12.3M | $36.4M |
| UBS Group AG | $26.6M | $7.3M |
| Ameriprise Financial Inc. | $10.7M | $15.7M |
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: NULV institutional holders, FLQL institutional holders.
Frequently asked questions
How much do NULV and FLQL overlap?
18.7% by weight, with 25 holdings in common, using holdings for NULV as of July 31, 2026 and FLQL as of June 30, 2026. The largest shared position is MSFT.
Do institutions hold both NULV and FLQL?
50 Form 13F filers report positions in both, out of 328 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%.