Dataset · quarterly series
Index funds are quietly concentrating
A holding count barely moves from year to year. What the weights do to it does not. Every filing each of these funds has made since 2019, measured the same way — which is a series nobody can reconstruct from today's filing alone.
How to read this
Effective holdings is the number of equally weighted positions a fund behaves like. Each row compares a fund's first comparable filing with its most recent one. 26 of 56 funds behave like fewer positions than they did at the start, while 28 behave like more.
The window differs by fund because funds began filing at different dates and because quarters that fail the comparability test are skipped rather than smoothed over. Both endpoints are named in every row for that reason.
Change in effective holdings
56| Ticker | From | Effective | To | Effective | Change | Top 10 then | Top 10 now | Filings |
|---|---|---|---|---|---|---|---|---|
| UPRO | 2019-11-30 | 75.7 | 2026-02-28 | 15.8 | −79% | 27.6% | 51.28% | 27 |
| VWO | 2019-10-31 | 145.3 | 2026-04-30 | 39.1 | −73% | 20.45% | 29.48% | 27 |
| VT | 2019-10-31 | 412.3 | 2026-04-30 | 148.3 | −64% | 10.22% | 21.71% | 27 |
| VTI | 2019-09-30 | 160.5 | 2026-06-30 | 66.9 | −58% | 17.83% | 32.03% | 28 |
| VOO | 2019-09-30 | 112 | 2026-06-30 | 51.5 | −54% | 21.5% | 36.4% | 28 |
| IVV | 2019-09-30 | 111.1 | 2026-06-30 | 51.5 | −54% | 21.56% | 36.36% | 28 |
| VUG | 2019-09-30 | 42.6 | 2026-06-30 | 19.8 | −53% | 38.88% | 60.44% | 28 |
| ITOT | 2019-09-30 | 138.4 | 2026-06-30 | 65 | −53% | 20.02% | 32.1% | 28 |
| IFRA | 2019-09-30 | 104.6 | 2026-06-30 | 54.2 | −48% | 12.27% | 32.34% | 28 |
| VXUS | 2019-10-31 | 481.1 | 2026-04-30 | 259.8 | −46% | 9.46% | 13.45% | 27 |
| SCHG | 2019-11-30 | 43.1 | 2026-05-31 | 23.3 | −46% | 39% | 57.18% | 27 |
| LRGF | 2019-10-31 | 89.4 | 2026-04-30 | 54.2 | −39% | 22.42% | 33.96% | 27 |
| VNQ | 2019-10-31 | 34.8 | 2026-04-30 | 21.6 | −38% | 41.54% | 54.74% | 27 |
| VEA | 2019-09-30 | 358.6 | 2026-06-30 | 258.3 | −28% | 10.48% | 13.56% | 28 |
| QUAL | 2019-10-31 | 56.3 | 2026-04-30 | 41.6 | −26% | 32.03% | 39.04% | 27 |
| ROBO | 2019-10-31 | 82.5 | 2026-04-30 | 63.8 | −23% | 16.93% | 21.08% | 27 |
| PPTY | 2019-11-30 | 60.2 | 2026-05-31 | 46.7 | −22% | 28.93% | 34.29% | 27 |
| SMH | 2019-09-30 | 16.5 | 2026-06-30 | 13.9 | −16% | 64.2% | 70.24% | 28 |
| USMV | 2019-10-31 | 124.6 | 2026-04-30 | 109.3 | −12% | 14.84% | 15.63% | 27 |
| CTA | 2023-12-29 | 1.8 | 2026-06-30 | 1.6 | −11% | 96.16% | 99.48% | 18 |
| SCHD | 2019-11-30 | 35.8 | 2026-05-31 | 32.1 | −10% | 42.38% | 43.56% | 27 |
| MTUM | 2019-10-31 | 43.4 | 2026-04-30 | 40.3 | −7% | 39.11% | 40.41% | 27 |
| AIPI | 2024-08-31 | 16.5 | 2026-05-31 | 15.5 | −6% | 60% | 66.2% | 8 |
| SPLV | 2019-11-30 | 99 | 2026-05-31 | 93.9 | −5% | 12.08% | 13.45% | 27 |
| VBR | 2019-09-30 | 458.6 | 2026-06-30 | 448.7 | −2% | 6.08% | 6.05% | 28 |
| VTV | 2019-09-30 | 97.5 | 2026-06-30 | 96.5 | −1% | 22.76% | 23.6% | 28 |
| VGT | 2019-11-30 | 15.1 | 2026-05-31 | 15.1 | +0% | 56% | 59.36% | 27 |
| VPU | 2019-11-30 | 24.1 | 2026-05-31 | 24.1 | +0% | 52.96% | 52.49% | 27 |
| DIVZ | 2025-06-30 | 26.1 | 2026-06-30 | 26.2 | +0% | 49.27% | 48.54% | 5 |
| IGV | 2019-09-30 | 19.6 | 2026-06-30 | 19.8 | +1% | 63.64% | 62.91% | 28 |
| NLR | 2019-09-30 | 18.7 | 2026-06-30 | 19 | +2% | 60.18% | 61.08% | 28 |
| FCTR | 2019-09-30 | 109.8 | 2026-06-30 | 113.9 | +4% | 18.52% | 18.11% | 28 |
| PAVE | 2019-11-30 | 48.5 | 2026-05-31 | 50.6 | +4% | 32.65% | 32.32% | 27 |
| AMOM | 2020-04-30 | 28.8 | 2026-04-30 | 30.2 | +5% | 45.15% | 44.36% | 25 |
| MOAT | 2019-09-30 | 46.8 | 2026-06-30 | 50.1 | +7% | 25.91% | 25.31% | 28 |
| BOTZ | 2019-11-30 | 19.4 | 2026-05-31 | 20.9 | +8% | 63.72% | 59.03% | 27 |
| XLU | 2019-09-30 | 18.5 | 2026-06-30 | 20.1 | +9% | 61.37% | 57.53% | 28 |
| SOXX | 2019-09-30 | 18.6 | 2026-06-30 | 20.3 | +9% | 61.9% | 61.65% | 28 |
| AVUV | 2019-11-30 | 248.4 | 2026-05-31 | 272.6 | +10% | 8.8% | 8.67% | 27 |
| GRID | 2019-09-30 | 20.6 | 2026-06-30 | 22.9 | +11% | 60.52% | 58.36% | 28 |
| XLE | 2019-09-30 | 8.8 | 2026-06-30 | 9.9 | +13% | 76.43% | 75.54% | 28 |
| WCLD | 2019-09-30 | 48.8 | 2026-06-30 | 56.2 | +15% | 24.46% | 26.53% | 28 |
| VIG | 2019-10-31 | 50.9 | 2026-04-30 | 59.8 | +18% | 34.94% | 32.5% | 27 |
| BIL | 2019-09-30 | 12 | 2026-06-30 | 14.4 | +20% | 86.2% | 74.45% | 28 |
| NOBL | 2019-11-30 | 57.1 | 2026-05-31 | 68.9 | +21% | 18.83% | 16.54% | 27 |
| VDE | 2019-11-30 | 10.2 | 2026-05-31 | 12.4 | +22% | 69.41% | 63.68% | 27 |
| QLD | 2019-11-30 | 24.6 | 2026-02-28 | 32.7 | +33% | 52.31% | 44.17% | 27 |
| JEPI | 2020-06-30 | 70.4 | 2026-06-30 | 95 | +35% | 24.03% | 15.89% | 25 |
| XLK | 2019-09-30 | 12 | 2026-06-30 | 16.3 | +36% | 64.56% | 64.45% | 28 |
| BND | 2019-09-30 | 644.7 | 2026-06-30 | 879.4 | +36% | 5.82% | 4.62% | 28 |
| SIZE | 2019-10-31 | 287.8 | 2026-04-30 | 403.9 | +40% | 6.99% | 5.71% | 27 |
| QQQM | 2020-11-30 | 20.7 | 2026-05-31 | 32.2 | +56% | 55.39% | 47.31% | 23 |
| TLT | 2019-11-30 | 19.8 | 2026-05-31 | 31.8 | +61% | 60.76% | 41.92% | 27 |
| AGG | 2019-11-30 | 264 | 2026-05-31 | 537.5 | +104% | 10.02% | 6.61% | 27 |
| COWZ | 2019-10-31 | 17.5 | 2026-04-30 | 71.8 | +310% | 40.56% | 21.13% | 26 |
| SGOV | 2020-05-31 | 3.1 | 2026-05-31 | 14.6 | +371% | 99.11% | 72.36% | 25 |
Take the data
CC BY 4.0The CSV is one row per fund per quarter — 1,493 rows, keyed by ticker and reporting date, so it joins to anything else keyed the same way. Free to use and republish with attribution to this page.
Sources and limits
Every point is computed from a filed SEC Form N-PORT (NPORT-P), read directly from EDGAR. The cadence is quarterly because that is the cadence of the public filing, not monthly; a fund's row moves when its own fiscal quarter ends, which is why the dates in this table do not line up across funds.
A fund needs at least four filings to appear here — three points do not make a trend. Quarters that fail the comparability test on the methodology page are excluded from the endpoints, so a leveraged fund's window may start later than its first filing.
This measures concentration of weights, not risk. Holdings that move together are more concentrated in practice than any of these numbers imply — see what the measure cannot tell you. The companion datasets are today's snapshot and valuation inputs.