SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Wealthfront Corp
Filing Type: Form 13F Information Table (Schedule of Holdings)
Reporting Period: Quarter ended June 30, 2015
Context: This filing discloses the equity securities held by Wealthfront Corp, a registered investment adviser, as of the end of the second quarter of 2015. The filing lists individual stock positions, exchange-traded funds (ETFs), and other equity instruments, detailing share counts and approximate values.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing does not provide aggregate revenue, profit, or cash flow data for Wealthfront Corp itself. Instead, it details the composition of the investment portfolio managed or held by the entity. The portfolio is heavily diversified across large-cap U.S. equities and broad-market ETFs.
Top Equity Holdings (by Share Count):
- Facebook Inc: 262,686 shares
- Twitter Inc: 562,387 shares
- General Electric Co: 92,735 shares
- Bank of America Corp: 77,172 shares
- Microsoft Corp: 66,082 shares
- Wells Fargo & Co: 56,410 shares
- Apple Inc: 53,643 shares
- Pfizer Inc: 51,401 shares
- AT&T Inc: 50,948 shares
- Cisco Systems Inc: 48,333 shares
Significant ETF Holdings: The portfolio includes substantial positions in passive index funds, indicating a core-satellite or indexing strategy.
- Vanguard FTSE Developed Markets ETF: 8,538,602 shares
- Vanguard FTSE Emerging Markets ETF: 5,952,593 shares
- Schwab Strategic Trust (International Equity): 4,324,160 shares
- Vanguard Total Stock Market ETF: 3,968,019 shares
- iShares Core MSCI Emerging Markets ETF: 3,552,015 shares
- Schwab Strategic Trust (Small Cap): 2,302,728 shares
- SPDR Nuveen Barclays Municipal Bond ETF: 2,251,778 shares
Voting Authority: For all listed securities, Wealthfront Corp reported "Sole" voting authority, with no shared or none authority reported.
Material Changes and Observations
Comparison to Prior Period: The provided text contains only the snapshot of holdings as of June 30, 2015. It does not include the prior quarter's data (March 31, 2015) within this specific document. Therefore, specific material changes (additions or deletions) cannot be calculated from this text alone.
Portfolio Characteristics:
- Concentration in Tech and Finance: Significant holdings in major technology firms (Facebook, Twitter, Microsoft, Apple) and financial institutions (Bank of America, Wells Fargo, JPMorgan Chase).
- Passive Exposure: A large portion of the portfolio is allocated to broad market ETFs (Vanguard, Schwab, iShares), suggesting a strategy focused on market beta rather than active stock picking for the bulk of assets.
- Derivatives: The filing lists no Put or Call options (Column 6 and 7 are empty for all entries).
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 exposed to general equity market volatility, particularly in the Technology and Financial sectors.
- Concentration Risk: While diversified across hundreds of issuers, the top 10 holdings represent a significant portion of the share count.
- Regulatory Disclosure: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Reporting Entity: Verify that "Wealthfront Corp" is the correct reporting adviser for the specific accounts or funds being analyzed, as 13F filings may aggregate holdings across multiple client accounts.
- Valuation Accuracy: The "Value" column in the source text is present but often obscured or formatted inconsistently in raw HTML dumps; investors should verify current market values against the share counts provided.
- Passive vs. Active: Confirm the proportion of assets held in ETFs versus individual stocks to understand the active management overlay of the portfolio.
- Top Holdings: Note the significant positions in Facebook and Twitter, which were high-growth, high-volatility assets in mid-2015.
- International Exposure: Verify the specific geographic exposure through the large holdings in Emerging Markets and Developed Markets ETFs.