RWL vs PBUS overlap
RWL and PBUS overlap 55.5% by weight, across 454 shared holdings.
Pick 2 to 4 ETFs.
Top shared holdings
| Holding | RWL | PBUS | Overlap |
|---|---|---|---|
| Amazon.COM Inc.AMZN | 4.47% | 3.94% | 3.94% |
| Apple Inc.AAPL | 2.55% | 6.94% | 2.55% |
| Microsoft Corp.MSFT | 1.66% | 4.81% | 1.66% |
| JPMorgan ChaseJPM | 1.43% | 1.23% | 1.23% |
| Alphabet Inc.-aGOOGL | 1.22% | 3.35% | 1.22% |
| Alphabet Inc.-CGOOG | 1.20% | 2.77% | 1.20% |
| Nvidia Corp.NVDA | 1.20% | 7.77% | 1.20% |
| Berkshire HATH-BBRK/B | 1.75% | 0.99% | 0.99% |
| META Platforms-aMETA | 0.95% | 2.09% | 0.95% |
| Exxon Mobil Corp.XOM | 1.52% | 0.93% | 0.93% |
| Walmart Inc.WMT | 3.27% | 0.77% | 0.77% |
| Costco WholesaleCOST | 1.35% | 0.64% | 0.64% |
| Intel Corp.INTC | 0.62% | 0.78% | 0.62% |
| Bank of AmericaBAC | 1.02% | 0.54% | 0.54% |
| Chevron Corp.CVX | 0.86% | 0.53% | 0.53% |
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: RWL, SEC Form N-PORT, May 31, 2026; PBUS, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | RWL | PBUS |
|---|---|---|
| Morgan Stanley | $426.8M | $1.6B |
| Invesco Ltd. | $1.3B | $82.9M |
| LPL Financial LLC | $848.1M | $22.5M |
| Bank of New York Mellon Corp | $222.4M | $166.5M |
| Bank of America Corp. | $288.9M | $315K |
| Raymond James Financial Inc. | $120.4M | $122.7M |
| Cetera Investment Advisers | $152.7M | $56.1M |
| Jones Financial Companies LLLP | $157.5M | $427K |
| Osaic Holdings, Inc. | $146.7M | $100K |
| Wells Fargo & Company | $111.4M | $29 |
| Axxcess Wealth Management, LLC | $31.7M | $76.7M |
| Equitable Holdings, Inc. | $82.4M | $253K |
| UBS Group AG | $68.6M | $7.3M |
| Envestnet Asset Management Inc. | $54.1M | $17.3M |
| Private Advisor Group, LLC | $58.4M | $4.4M |
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: RWL institutional holders, PBUS institutional holders.
Frequently asked questions
How much do RWL and PBUS overlap?
55.5% by weight, with 454 holdings in common, using holdings for RWL as of May 31, 2026 and PBUS as of May 31, 2026. The largest shared position is AMZN.
Do institutions hold both RWL and PBUS?
40 Form 13F filers report positions in both, out of 367 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%.