RECS vs FDL overlap
RECS and FDL overlap 9.0% by weight, across 39 shared holdings.
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Top shared holdings
| Holding | RECS | FDL | Overlap |
|---|---|---|---|
| Chevron Corp.CVX | 1.52% | 7.43% | 1.52% |
| Altria Group Inc.MO | 1.25% | 4.64% | 1.25% |
| Bristol-MYER SQBBMY | 1.16% | 3.43% | 1.16% |
| Target Corp.TGT | 0.65% | 1.41% | 0.65% |
| Comcast Corp.-aCMCSA | 0.52% | 3.13% | 0.52% |
| US BancorpUSB | 0.49% | 2.27% | 0.49% |
| Truist FinancialTFC | 0.33% | 1.70% | 0.33% |
| Accenture PLC-aACN | 0.26% | 1.84% | 0.26% |
| Kraft Heinz Co/TKHC | 0.22% | 0.91% | 0.22% |
| Prudentl FINLPRU | 0.22% | 1.31% | 0.22% |
| General Mills inGIS | 0.20% | 0.88% | 0.20% |
| Tyson Foods-aTSN | 0.18% | 0.37% | 0.18% |
| Exelon Corp.EXC | 0.17% | 1.15% | 0.17% |
| Best BUY Co Inc.BBY | 0.15% | 0.49% | 0.15% |
| CONS Edison Inc.ED | 0.15% | 0.89% | 0.15% |
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: RECS, SEC Form N-PORT, July 31, 2026; FDL, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | RECS | FDL |
|---|---|---|
| LPL Financial LLC | $939.1M | $775.0M |
| Ameriprise Financial Inc. | $643.1M | $276.5M |
| Morgan Stanley | $305.3M | $432.8M |
| Raymond James Financial Inc. | $254.4M | $247.4M |
| Bank of America Corp. | $227.1M | $125.4M |
| Wells Fargo & Company | $124.6M | $157.8M |
| Osaic Holdings, Inc. | $141.9M | $84.3M |
| Commonwealth Equity Services, LLC | $156.2M | $48.5M |
| Cetera Investment Advisers | $64.0M | $124.1M |
| Royal Bank of Canada | $48.4M | $120.4M |
| UBS Group AG | $37.4M | $120.1M |
| Cambridge Investment Research Advisors, Inc. | $29.5M | $124.7M |
| Jones Financial Companies LLLP | $42.8M | $85.0M |
| Northwestern Mutual Wealth Management Co | $11.8M | $109.8M |
| Bogart Wealth, LLC | $101.2M | $87K |
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: RECS institutional holders, FDL institutional holders.
Frequently asked questions
How much do RECS and FDL overlap?
9.0% by weight, with 39 holdings in common, using holdings for RECS as of July 31, 2026 and FDL as of June 30, 2026. The largest shared position is CVX.
Do institutions hold both RECS and FDL?
101 Form 13F filers report positions in both, out of 584 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%.