SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Equitable Holdings, Inc.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: As of June 30, 2024
Context: This filing discloses the equity securities held by Equitable Holdings, Inc. as a registered investment manager. The data represents a snapshot of long-only positions, primarily consisting of common stocks and exchange-traded funds (ETFs). The filing does not contain financial performance metrics (revenue, profit, cash flow) for Equitable Holdings itself, but rather details its investment portfolio composition.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists hundreds of individual positions across various sectors. The portfolio is heavily diversified with significant allocations to passive index funds and sector-specific ETFs alongside direct equity holdings.
- Top Equity Holdings (by Share Count):
- Apple Inc. (AAPL): 123,471,341 shares
- Amazon.com Inc. (AMZN): 73,727,967 shares
- Alphabet Inc. Class C (GOOG): 25,832,873 shares
- Alphabet Inc. Class A (GOOGL): 39,472,816 shares
- Microsoft Corp. (MSFT): 81,263,555 shares
- NVIDIA Corp. (NVDA): 100,305,215 shares
- Berkshire Hathaway Inc. Class B (BRK.B): 56,827,519 shares
- Significant ETF Allocations:
- Dimensional ETF Trust US Core Equity 2: 32,582,066 shares
- Dimensional ETF Trust US Equity ETF: 29,890,445 shares
- Invesco QQQ Trust (QQQ): 263,678,668 shares
- SPDR Portfolio S&P 500 Growth ETF: 205,228,956 shares
- Vanguard Growth ETF: 184,877,631 shares
- SPDR S&P 500 ETF Trust (SPY): 128,999,188 shares
- Notable Sector Exposure: Technology (Apple, Microsoft, NVIDIA, Alphabet), Financials (JPMorgan, Bank of America, BlackRock), Healthcare (UnitedHealth, Eli Lilly, Merck), and Consumer Staples (Walmart, Procter & Gamble).
Debt and Liquidity: The filing text does not provide data on Equitable Holdings' corporate debt, liquidity, or cash flow. It strictly reports investment holdings.
Material Changes and Observations
Comparison to Prior Period: The provided text contains only the current period data (June 30, 2024). It does not include the prior quarter's holdings; therefore, material changes (buys/sells) cannot be calculated from this source alone.
Portfolio Characteristics:
- Concentration: Significant concentration in large-cap technology and broad market index funds.
- Derivatives: The "Put/Call" column indicates "DFND" (Defined) for all listed positions, suggesting these are standard long equity positions without complex derivative overlays reported in this specific table view.
- Voting Authority: All listed positions show "Sole" voting authority, indicating Equitable Holdings has full discretion over these assets.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies:
- Market Risk: The portfolio is heavily exposed to U.S. large-cap equities and the technology sector, making it sensitive to market volatility and sector-specific downturns.
- Liquidity Risk: While most holdings are highly liquid public equities, the sheer size of positions in certain names (e.g., QQQ, SPY) implies significant market impact costs if liquidated rapidly.
Key Facts for Investor Verification
- Portfolio Size: Verify the total market value of the portfolio by multiplying the share counts by current market prices, as the filing only provides share counts and CUSIPs.
- Turnover: Compare this filing with the March 31, 2024, 13F filing to determine the fund's turnover rate and specific trading activity.
- Concentration Limits: Assess if the top 10 holdings exceed regulatory or internal concentration limits for the fund.
- ETF vs. Stock Ratio: Calculate the percentage of assets held in ETFs versus individual stocks to understand the active vs. passive management strategy.
- Missing Data: Note that this filing does not disclose short positions, derivatives (other than standard equity), or non-equity assets (bonds, cash).