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 March 31, 2025
Context: This filing discloses the equity securities held by Equitable Holdings, Inc. at the end of the first quarter of 2025. The portfolio consists of a diversified mix of individual common stocks and a significant allocation to Exchange-Traded Funds (ETFs) and mutual funds across various asset classes, including equities, fixed income, and commodities.
Key Financial Metrics and Portfolio Composition
Note: Form 13F filings report the value of holdings in the portfolio, not the operating financial metrics (revenue, profit, cash flow) of the reporting company itself. The following metrics reflect the portfolio's composition as of the reporting date.
- Total Portfolio Value: The filing lists hundreds of individual positions. While a precise aggregate total is not explicitly summed in the text, the portfolio contains significant positions in major technology and financial firms.
- Top Equity Holdings (by Value):
- Apple Inc.: $139,464,765
- Alphabet Inc. (Class C): $37,869,996
- Alphabet Inc. (Class A): $35,603,540
- Amazon.com Inc.: $89,745,452
- Microsoft Corp.: $80,630,393
- NVIDIA Corp.: $94,637,308
- Berkshire Hathaway Inc. (Class B): $87,393,183
- Top ETF/Fund Holdings (by Value):
- SPDR Portfolio S&P 500 Growth ETF: $287,159,599
- SPDR Portfolio S&P 500 Value ETF: $174,149,211
- SPDR Portfolio Aggregate Bond ETF: $62,552,823
- SPDR Portfolio S&P 500 ETF: $29,983,535
- First Trust Rising Dividend Achievers ETF: $56,473,772
- Asset Class Exposure: The portfolio demonstrates heavy exposure to U.S. Large Cap Growth and Value equities, with substantial allocations to fixed income (via bond ETFs and municipal funds) and commodities (Gold, Silver, and Energy).
Material Changes and Observations
Comparison to prior periods is not possible as only the current period's data is provided in this text. However, the following observations characterize the current portfolio structure:
- Concentration in Technology: Significant capital is allocated to the "Magnificent Seven" and related semiconductor companies (NVIDIA, AMD, Broadcom, TSMC), indicating a strong growth-oriented bias.
- Fixed Income Strategy: The portfolio utilizes a wide array of bond ETFs, including short-term treasuries, investment-grade corporates, high-yield, and municipal bonds, suggesting a focus on yield and duration management.
- Commodity Exposure: Notable holdings in physical gold and silver trusts (SPDR Gold Trust, iShares Gold Trust) and energy sector ETFs indicate a hedge against inflation or market volatility.
- International Exposure: Holdings include significant positions in international ETFs (EAFE, Emerging Markets) and specific foreign issuers (ASML, Novartis, Shell), providing geographic diversification.
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or strategic outlooks. They are purely regulatory disclosures of holdings.
Risks and Contingencies:
- Market Risk: The portfolio is heavily weighted toward equities, making it susceptible to broad market downturns.
- Concentration Risk: While diversified across hundreds of tickers, the top 10 holdings represent a significant portion of the total portfolio value, creating concentration risk in specific sectors (Technology, Financials).
- Liquidity Risk: The portfolio consists primarily of highly liquid public equities and ETFs, suggesting low liquidity risk for the assets themselves.
Key Facts for Investor Verification
- Reporting Entity: Verify that the holdings belong to Equitable Holdings, Inc. and not a subsidiary or a different manager, as Form 13F can sometimes be filed by investment advisors on behalf of clients.
- Valuation Date: Confirm that the values reflect market prices as of March 31, 2025, and have not been adjusted for subsequent market movements.
- Discretionary Authority: The filing indicates "Sole" discretionary authority for the majority of positions, meaning Equitable Holdings made the investment decisions independently.
- Short Positions: The filing lists "Put" and "Call" columns; verify if there are any significant short positions or derivatives used for hedging (the provided text shows "0" for most Put/Call columns, indicating a primarily long-only strategy).
- Regulatory Compliance: Ensure the filing was submitted within the required 45-day window following the quarter-end (by May 15, 2025).