# Advisor Group, Inc.

> Institutional holdings reported to the SEC as of Q4 2019 on Form 13F. CIK 1681115. Source: https://holderbook.com/funds/1681115-advisor-group-inc/

- Reported value: $14.5B
- Positions: 5,279
- Weight of the ten largest: 19.5%
- Filed: 2020-02-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $631.8M | 1,952,821 | 4.4% | 5 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $383.4M | 1,295,756 | 2.7% | 5 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $294.0M | 4,479,988 | 2.0% | 5 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $275.4M | 937,170 | 1.9% | 5 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $251.9M | 5,715,050 | 1.7% | 5 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $229.7M | 1,403,386 | 1.6% | 5 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $213.7M | 3,274,463 | 1.5% | 5 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $189.6M | 5,430,537 | 1.3% | 5 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $174.0M | 818,395 | 1.2% | 5 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $173.0M | 892,702 | 1.2% | 5 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $167.5M | 520,336 | 1.2% | 5 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $165.9M | 6,396,749 | 1.1% | 5 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $164.6M | 1,372,170 | 1.1% | 5 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $160.4M | 2,833,916 | 1.1% | 5 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $158.7M | 1,571,085 | 1.1% | 5 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $157.0M | 1,396,112 | 1.1% | 5 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $141.4M | 1,753,265 | 1.0% | 5 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $134.6M | 1,034,225 | 0.9% | 5 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $125.8M | 2,339,288 | 0.9% | 5 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $124.3M | 1,482,052 | 0.9% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $122.5M | 66,267 | 0.8% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $121.4M | 769,356 | 0.8% | 5 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $117.0M | 567,675 | 0.8% | 5 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $112.3M | 1,544,957 | 0.8% | 5 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $110.6M | 605,661 | 0.8% | 5 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $103.4M | 1,855,743 | 0.7% | 5 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $95.1M | 2,137,148 | 0.7% | 5 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $89.7M | 395,957 | 0.6% | 5 |
| VANGUARD BD INDEX FDS | [BIV](https://holderbook.com/stocks/BIV/) | $80.1M | 917,827 | 0.6% | 5 |
| FIRST TR EXCHANGE-TRADED FD | [FVD](https://holderbook.com/stocks/FVD/) | $79.6M | 2,207,812 | 0.6% | 5 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $79.4M | 629,333 | 0.5% | 5 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $78.0M | 929,341 | 0.5% | 5 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $76.9M | 1,325,195 | 0.5% | 5 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $74.4M | 1,902,784 | 0.5% | 5 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $67.9M | 627,875 | 0.5% | 5 |
| ISHARES TR | [EFAV](https://holderbook.com/stocks/EFAV/) | $67.6M | 906,314 | 0.5% | 5 |
| VANGUARD BD INDEX FDS | [BLV](https://holderbook.com/stocks/BLV/) | $67.2M | 668,826 | 0.5% | 5 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $64.8M | 519,712 | 0.4% | 5 |
| VANGUARD SCOTTSDALE FDS | [VMBS](https://holderbook.com/stocks/VMBS/) | $60.8M | 1,141,983 | 0.4% | 5 |
| INVESCO EXCH TRADED FD TR II | [SPLV](https://holderbook.com/stocks/SPLV/) | $60.4M | 1,034,705 | 0.4% | 5 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $60.1M | 682,525 | 0.4% | 5 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $57.4M | 393,029 | 0.4% | 5 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $55.2M | 293,673 | 0.4% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $54.9M | 393,962 | 0.4% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $53.2M | 762,056 | 0.4% | 5 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $51.6M | 251,600 | 0.4% | 5 |
| ISHARES TR | [IXN](https://holderbook.com/stocks/IXN/) | $49.7M | 235,884 | 0.3% | 5 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $49.7M | 715,601 | 0.3% | 5 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $49.6M | 343,025 | 0.3% | 5 |
| ISHARES U S ETF TR | [NEAR](https://holderbook.com/stocks/NEAR/) | $49.1M | 976,404 | 0.3% | 5 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $48.8M | 795,272 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $48.7M | 293,268 | 0.3% | 5 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $48.6M | 276,104 | 0.3% | 5 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $46.6M | 1,487,139 | 0.3% | 5 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $44.8M | 33,440 | 0.3% | 5 |
| FIRST TR EXCHANGE-TRADED FD | [FV](https://holderbook.com/stocks/FV/) | $43.9M | 1,390,939 | 0.3% | 5 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $43.8M | 134,155 | 0.3% | 5 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $43.3M | 461,929 | 0.3% | 5 |
| ISHARES TR | [SIZE](https://holderbook.com/stocks/SIZE/) | $42.1M | 432,235 | 0.3% | 5 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $42.1M | 336,687 | 0.3% | 5 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $41.9M | 1,000,360 | 0.3% | 5 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $41.3M | 384,018 | 0.3% | 5 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $40.6M | 244,999 | 0.3% | 5 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $40.3M | 320,957 | 0.3% | 5 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $40.0M | 332,089 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $39.1M | 219,281 | 0.3% | 5 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $38.6M | 176,445 | 0.3% | 5 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $38.5M | 134,955 | 0.3% | 5 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $38.0M | 28,384 | 0.3% | 5 |
| INVESCO EXCHANGE TRADED FD T | [PKW](https://holderbook.com/stocks/PKW/) | $37.9M | 549,764 | 0.3% | 5 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $37.4M | 152,502 | 0.3% | 5 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $37.3M | 777,754 | 0.3% | 5 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $36.4M | 608,822 | 0.3% | 5 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $36.2M | 267,045 | 0.3% | 5 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $36.0M | 281,298 | 0.2% | 5 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $35.9M | 949,847 | 0.2% | 5 |
| SPDR SERIES TRUST | [SPTL](https://holderbook.com/stocks/SPTL/) | $35.4M | 910,910 | 0.2% | 5 |
| DBX ETF TR | [HYLB](https://holderbook.com/stocks/HYLB/) | $35.1M | 696,500 | 0.2% | 5 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $35.0M | 119,009 | 0.2% | 5 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $34.3M | 912,546 | 0.2% | 5 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $34.2M | 368,772 | 0.2% | 5 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $34.0M | 632,977 | 0.2% | 5 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $33.5M | 291,329 | 0.2% | 5 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $32.2M | 354,409 | 0.2% | 5 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $32.1M | 224,752 | 0.2% | 5 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $32.0M | 106,959 | 0.2% | 5 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $31.2M | 228,154 | 0.2% | 5 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $31.1M | 738,355 | 0.2% | 5 |
| FIRST TR EXCHANGE-TRADED FD | [FTCS](https://holderbook.com/stocks/FTCS/) | $31.0M | 513,311 | 0.2% | 5 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $30.8M | 363,573 | 0.2% | 5 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $30.5M | 222,956 | 0.2% | 5 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $29.3M | 320,324 | 0.2% | 5 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $29.0M | 823,195 | 0.2% | 5 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $28.7M | 574,703 | 0.2% | 5 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $28.5M | 192,438 | 0.2% | 5 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $28.0M | 909,642 | 0.2% | 5 |
| FIRST TR EXCHANGE-TRADED ALP | [FEX](https://holderbook.com/stocks/FEX/) | $27.8M | 425,622 | 0.2% | 5 |
| SPDR SERIES TRUST | [JNK](https://holderbook.com/stocks/JNK/) | $27.6M | 251,385 | 0.2% | 3 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $27.3M | 695,712 | 0.2% | 5 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $27.0M | 304,741 | 0.2% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2019 | +6.0% | +8.5% | -2.4% | 100% |
| Q3 2019 | +0.7% | +1.3% | -0.6% | 100% |
| Q2 2019 | +2.7% | +3.7% | -1.0% | 100% |
| Q1 2019 | +11.1% | +13.0% | -1.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2019 | $14.5B | 5,279 |
| Q3 2019 | $13.6B | 5,244 |
| Q2 2019 | $13.0B | 5,202 |
| Q1 2019 | $12.2B | 5,187 |
| Q4 2018 | $10.2B | 5,080 |