PFS INVESTMENTS INC.
Registered adviserFiling Date
Global Rank
#543
/ 7,034
▼ 2
· as of Jun 2023
Top Industry
Asset Management
8.8%
Period ended 3 years ago
Filed Aug 14, 2023 · 3y
14 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Registered adviser
Form ADV roster, Nov 1, 2026
Regulatory AUM
$15,536,099,534
Main clients
Individuals and high net worth
(99% of AUM)
Form ADV history
Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Nov 2026 | $15,536,099,534 | Individuals and high net worth (99%) |
| Apr 2025 to Mar 2026 | $11,156,017,804 | Individuals and high net worth (99%) |
| Apr 2024 to Mar 2025 | $8,461,983,895 | Individuals and high net worth (99%) |
| May 2023 to Mar 2024 | $7,088,085,794 | Individuals and high net worth (99%) |
| Apr 2023 | $7,088,085,794 | Individuals and high net worth (99%) |
| Apr 2022 to Mar 2023 | $7,113,872,754 | Individuals and high net worth (99%) |
3 earlier changes not shown.
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2023, never from the firm's own description.
Style
Diversified active
Top 10 weight 47.9%, 18.6 effective positions, active share 70.4% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests
Turnover
Medium turnover
45.1% over the last four quarters (30% to under 100%)
Horizon
Horizon unknown
The value-weighted holding period is at least 10.8 quarters, but 59.3% of the book was already held when coverage starts
Closest benchmark: every 13F filer's combined book, active share 70.4%; sector active share 41.1% against the combined 13F book's sector weights.
Over time 14 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
497 tracked positions · as of Jun 30, 2023 · Δ vs Mar 31, 2023Top Position
20.2%
+0.2 pts
Top 5
37.9%
−0.0 pts
Top 10
47.9%
−0.9 pts
HHI
537
Diversified−0
Portfolio Trend
14 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2023| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 53.6% | $3,174,394,082 |
| Financial Services | 9.0% | $534,211,128 |
| Technology | 8.9% | $524,607,097 |
| Healthcare | 7.5% | $442,299,219 |
| Industrials | 4.6% | $270,166,216 |
| Energy | 3.6% | $211,441,162 |
| Communication Services | 3.1% | $182,696,125 |
| Consumer Cyclical | 3.1% | $182,606,569 |
| Consumer Defensive | 3.0% | $177,958,369 |
| Utilities | 1.7% | $102,987,052 |
| Basic Materials | 1.3% | $77,062,736 |
| Real Estate | 0.6% | $38,096,603 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| T | At&T Inc. | +500,094 | 2,903,250 | $46,306,837 | |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | +497,976 | 1,791,135 | $87,729,792 | |
| SPEM | State Street(R) SPDR(R) Portfolio Emerging Markets ETF | +425,369 | 3,339,872 | $114,824,799 | |
| IEFA | iShares Core MSCI EAFE ETF | +400,199 | 1,185,342 | $80,010,585 | |
| SPDW | State Street(R) SPDR(R) Portfolio Developed World ex-US ETF | +348,043 | 5,188,322 | $168,827,997 | |
| MTB | M&T Bank Corp | +226,391 | 314,323 | $38,900,614 | |
| SPYG | State Street(R) SPDR(R) Portfolio S&P 500(R) Growth ETF | +194,385 | 2,262,024 | $138,006,084 | |
| PZA | Invesco National AMT-Free Municipal Bond ETF | +192,685 | 368,744 | $8,702,358 | |
| MBB | iShares MBS ETF | +181,933 | 2,010,319 | $187,502,453 | |
| USMV | iShares MSCI USA Min Vol Factor ETF | +176,479 | 887,948 | $66,001,174 | |
| EMR | Emerson Electric Co | +174,027 | 450,921 | $40,758,749 | |
| MLCO | Melco Resorts & Entertainment LTD | +166,014 | 317,632 | $3,878,286 | |
| COF | Capital One Financial Corp | +155,210 | 308,571 | $33,748,410 | |
| ONON | On Holding AG | +150,813 | 278,426 | $9,188,058 | |
| GPK | Graphic Packaging Holding Co | +148,966 | 295,548 | $7,102,018 | |
| IJR | iShares Core S&P Small-Cap ETF | +148,741 | 287,510 | $28,650,371 | |
| HLN | Haleon plc | +137,467 | 595,205 | $4,987,817 | |
| IEMG | iShares Trust | +125,459 | 358,676 | $0 | |
| QUAL | iShares MSCI USA Quality Factor ETF | +124,641 | 900,552 | $121,457,448 | |
| EWC | iShares Trust | +123,059 | 303,590 | $0 | |
| IGIB | iShares 5-10 Year Investment Grade Corporate Bond ETF | +109,827 | 999,044 | $50,521,655 | |
| EMB | iShares J.P. Morgan USD Emerging Markets Bond ETF | +76,924 | 221,896 | $19,202,879 | |
| BSX | Boston Scientific Corp | +76,160 | 221,401 | $11,975,580 | |
| ENB | Enbridge Inc | +76,046 | 1,420,970 | $52,789,035 | |
| SPAB | State Street(R) SPDR(R) Portfolio Aggregate Bond ETF | +73,179 | 778,200 | $19,742,934 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| — | −1,306,600 | 4,546 | $417,413 | ||
| USHY | iShares Broad USD High Yield Corporate Bond ETF | −233,067 | 864,077 | $30,501,918 | |
| EWJ | iShares MSCI Japan ETF | −214,724 | 113,023 | $6,996,123 | |
| SPYV | State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF | −157,299 | 3,010,747 | $130,064,270 | |
| EZU | iShares Trust | −134,364 | 298,190 | $0 | |
| IVV | iShares Core S&P 500 ETF | −104,121 | 300,060 | $133,739,742 | |
| SRLN | State Street(R) Blackstone Senior Loan ETF | −96,639 | 188,023 | $7,872,523 | |
| MDLZ | Mondelez International, Inc. | −81,099 | 151,129 | $11,023,349 | |
| FVD | First Trust Value Line Dividend Index Fund | −77,483 | 246,498 | $9,882,104 | |
| SUSB | iShares ESG Aware 1-5 Year USD Corporate Bond ETF | −62,591 | 675,204 | $16,144,127 | |
| QQQ | Invesco Qqq Trust, Series 1 | −53,949 | 281,931 | $104,150,950 | |
| MPC | Marathon Petroleum Corp | −48,283 | 42,672 | $4,975,555 | |
| AAXJ | iShares Trust | −47,677 | 405,874 | $26,966,268 | |
| GLDM | World Gold Trust | −32,367 | 430,206 | $16,386,546 | |
| SUB | iShares Short-Term National Muni Bond ETF | −31,686 | 32,844 | $3,417,089 | |
| IWR | iShares Russell Mid-Cap ETF | −31,517 | 141,744 | $10,351,564 | |
| AVGO | Broadcom Inc. | −30,375 | 80,531 | $69,855,005 | |
| CDW | CDW Corp | −27,877 | 1,384 | $253,964 | |
| IJH | iShares Core S&P Mid-Cap ETF | −26,207 | 123,120 | $32,193,417 | |
| SCHE | Schwab Emerging Markets Equity ETF | −25,446 | 405,275 | $9,981,923 | |
| GSIE | Goldman Sachs ActiveBeta(R) International Equity ETF | −25,234 | 642,586 | $20,145,071 | |
| ACM | Aecom | −20,604 | 84,581 | $7,163,164 | |
| AVY | Avery Dennison Corp | −19,507 | 9,558 | $1,642,064 | |
| LNG | Cheniere Energy, Inc. | −17,446 | 73,902 | $11,259,708 | |
| TPR | Tapestry, Inc. | −17,015 | 127,605 | $5,461,494 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| EMLC | VanEck J.P. Morgan EM Local Currency Bond ETF | 578,839 | $14,795,124 | |
| APO | Apollo Global Management, Inc. | 178,616 | $13,719,494 | |
| DGRW | WisdomTree U.S. Quality Dividend Growth Fund | 184,016 | $12,266,506 | |
| FTNT | Fortinet, Inc. | 104,519 | $7,900,591 | |
| EWU | iShares MSCI United Kingdom ETF | 193,585 | $6,262,474 | |
| EWA | iShares MSCI Australia ETF | 273,153 | $6,159,600 | |
| DVY | iShares Select Dividend ETF | 46,783 | $5,300,513 | |
| SYY | Sysco Corp | 53,627 | $3,979,123 | |
| WAT | Waters Corp | 11,732 | $3,127,047 | |
| PSA | Public Storage | 9,954 | $2,905,373 | |
| STAG | STAG Industrial, Inc. | 78,778 | $2,826,554 | |
| ACLS | Axcelis Technologies Inc | 14,237 | $2,610,069 | |
| PINS | Pinterest, Inc. | 82,751 | $2,262,412 | |
| NUSC | Nuveen ESG Small-Cap ETF | 32,317 | $1,195,405 | |
| GTLB | Gitlab Inc. | 9,563 | $488,764 | |
| VYMI | VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND | 6,344 | $400,940 | |
| IDV | iShares International Select Dividend ETF | 12,586 | $331,389 | |
| RAMP | LiveRamp Holdings, Inc. | 10,355 | $295,738 | |
| DASH | DoorDash, Inc. | 3,358 | $256,618 | |
| LULU | lululemon athletica inc. | 617 | $233,534 | |
| C | Citigroup Inc | 4,927 | $226,839 | |
| CASY | Caseys General Stores Inc | 928 | $226,320 | |
| ZBH | Zimmer Biomet Holdings, Inc. | 1,543 | $224,660 | |
| PTLO | Portillo's Inc. | 9,935 | $223,835 | |
| BKNG | Booking Holdings Inc. | 82 | $221,427 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PSK | State Street(R) SPDR(R) ICE Preferred Securities ETF | 977,778 | $33,205,340 | |
| OMC | Omnicom Group Inc. | 259,275 | $24,460,003 | |
| TFC | Truist Financial Corp | 142,045 | $4,843,734 | |
| XSLV | Invesco S&P SmallCap Low Volatility ETF | 104,132 | $4,409,990 | |
| BBY | Best Buy Co Inc | 56,290 | $4,405,818 | |
| FSLR | First Solar, Inc. | 17,813 | $3,874,327 | |
| HALO | Halozyme Therapeutics, Inc. | 96,560 | $3,687,626 | |
| HUM | Humana Inc | 6,309 | $3,062,767 | |
| MXL | Maxlinear, Inc | 70,658 | $2,487,868 | |
| USSG | Xtrackers MSCI USA Selection Equity ETF | 55,781 | $2,096,082 | |
| GD | General Dynamics Corp | 8,389 | $1,914,453 | |
| PKG | Packaging Corp Of America | 12,566 | $1,744,537 | |
| MP | MP Materials Corp. | 61,153 | $1,723,903 | |
| SKIN | SkinHealth Systems Inc. | 127,809 | $1,614,227 | |
| LYFT | Lyft, Inc. | 74,848 | $693,840 | |
| QCOM | Qualcomm Inc | 2,100 | $267,918 | |
| DHR | Danaher Corp | 975 | $245,738 | |
| AMCX | AMC Global Media Inc. | 13,854 | $243,553 | |
| IUS | Invesco RAFI Strategic US ETF | 5,834 | $223,442 | |
| REGN | Regeneron Pharmaceuticals, Inc. | 253 | $207,882 | |
| AXON | Axon Enterprise, Inc. | 913 | $205,288 | |
| MQ | Marqeta, Inc. | 16,558 | $75,670 | |
| HRI | Herc Holdings Inc | 25,924 | $2,648 | |
| ENPH | Enphase Energy, Inc. | 10,171 | $1,943 | |
| — | 40,470 | $870 | ||
| No positions match the current search. | ||||
497 tracked positions ·
$5,918,526,358 total
· filing declares
512 positions · $6,123,311
· as of Jun 30, 2023
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 497 positions by value
· page 1 of 10
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MBB |
iShares MBS ETF
|
Added | 2,010,319 | $187,502,453 | 3.17% | |
| SPDW |
State Street(R) SPDR(R) Portfolio Developed World ex-US ETF
|
Added | 5,188,322 | $168,827,997 | 2.85% | |
| SPYG |
State Street(R) SPDR(R) Portfolio S&P 500(R) Growth ETF
|
Added | 2,262,024 | $138,006,084 | 2.33% | |
| QQQM |
Invesco Ltd.
Financial Services
|
Added | 892,329 | $135,616,161 | 2.29% | |
| IVV |
iShares Core S&P 500 ETF
|
Reduced | 300,060 | $133,739,742 | 2.26% | |
| SPYV |
State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF
|
Reduced | 3,010,747 | $130,064,270 | 2.20% | |
| QUAL |
iShares MSCI USA Quality Factor ETF
|
Added | 900,552 | $121,457,448 | 2.05% | |
| SPEM |
State Street(R) SPDR(R) Portfolio Emerging Markets ETF
|
Added | 3,339,872 | $114,824,799 | 1.94% | |
| QQQ |
Invesco Qqq Trust, Series 1
|
Reduced | 281,931 | $104,150,950 | 1.76% | |
| OMFL |
Invesco Russell 1000 Dynamic Multifactor ETF
|
Added | 1,791,135 | $87,729,792 | 1.48% | |
| RSP |
Victory Portfolios II
|
Added | 571,391 | $85,502,949 | 1.44% | |
| JEPI |
JPMorgan Equity Premium Income ETF
|
Added | 1,452,338 | $80,357,861 | 1.36% | |
| IEFA |
iShares Core MSCI EAFE ETF
|
Added | 1,185,342 | $80,010,585 | 1.35% | |
| CMCSA |
Comcast Corp
Communication Services
|
Added | 1,903,442 | $79,088,104 | 1.34% | |
| CSCO |
Cisco Systems, Inc.
Technology
|
Added | 1,384,382 | $71,627,924 | 1.21% | |
| SPHQ |
Invesco S&P 500 Quality ETF
|
Added | 1,404,852 | $70,874,783 | 1.20% | |
| AVGO |
Broadcom Inc.
Technology
|
Reduced | 80,531 | $69,855,005 | 1.18% | |
| USMV |
iShares MSCI USA Min Vol Factor ETF
|
Added | 887,948 | $66,001,174 | 1.12% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Added | 417,575 | $60,732,108 | 1.03% | |
| RPV |
Invesco S&P 500 Pure Value ETF
|
Added | 747,927 | $58,001,738 | 0.98% | |
| UPS |
United Parcel Service Inc
Industrials
|
Added | 299,718 | $53,724,451 | 0.91% | |
| SHYG |
iShares 0-5 Year High Yield Corporate Bond ETF
|
Added | 1,281,006 | $53,097,698 | 0.90% | |
| ENB |
Enbridge Inc
Energy
|
Added | 1,420,970 | $52,789,035 | 0.89% | |
| BMY |
Bristol Myers Squibb Co
Healthcare
|
Added | 819,878 | $52,431,198 | 0.89% | |
| IGIB |
iShares 5-10 Year Investment Grade Corporate Bond ETF
|
Added | 999,044 | $50,521,655 | 0.85% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Added | 369,535 | $49,787,450 | 0.84% | |
| GILD |
Gilead Sciences, Inc.
Healthcare
|
Added | 632,028 | $48,710,397 | 0.82% | |
| SPLV |
Invesco S&P 500 Low Volatility ETF
|
Added | 770,586 | $48,400,506 | 0.82% | |
| CVX |
Chevron Corp
Energy
|
Added | 307,245 | $48,345,000 | 0.82% | |
| SRE |
Sempra
Utilities
|
Added | 329,062 | $47,908,136 | 0.81% | |
| IBM |
International Business Machines Corp
Technology
|
Added | 350,045 | $46,839,521 | 0.79% | |
| T |
At&T Inc.
Communication Services
|
Added | 2,903,250 | $46,306,837 | 0.78% | |
| MSFT |
Microsoft Corp
Technology
|
Reduced | 135,363 | $46,096,516 | 0.78% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Added | 275,788 | $45,648,429 | 0.77% | |
| AAPL |
Apple Inc.
Technology
|
Added | 233,997 | $45,388,398 | 0.77% | |
| HD |
Home Depot, Inc.
Consumer Cyclical
|
Added | 145,071 | $45,064,855 | 0.76% | |
| MO |
Altria Group, Inc.
Consumer Defensive
|
Added | 973,449 | $44,097,239 | 0.75% | |
| PSX |
Phillips 66
Energy
|
Added | 451,146 | $43,030,305 | 0.73% | |
| CVS |
CVS HEALTH Corp
Healthcare
|
Added | 609,582 | $42,140,403 | 0.71% | |
| IGSB |
iShares 1-5 Year Investment Grade Corporate Bond ETF
|
Added | 836,316 | $41,957,973 | 0.71% | |
| LMT |
Lockheed Martin Corp
Industrials
|
Added | 89,195 | $41,063,594 | 0.69% | |
| EMR |
Emerson Electric Co
Industrials
|
Added | 450,921 | $40,758,749 | 0.69% | |
| FIXD |
First Trust Smith Opportunistic Fixed Income ETF
|
Added | 894,569 | $39,513,112 | 0.67% | |
| MTB |
M&T Bank Corp
Financial Services
|
Added | 314,323 | $38,900,614 | 0.66% | |
| MUB |
iShares National Muni Bond ETF
|
Added | 360,653 | $38,492,494 | 0.65% | |
| TLT |
iShares 20+ Year Treasury Bond ETF
|
Added | 364,152 | $37,485,806 | 0.63% | |
| GOVI |
Invesco Equal Weight 0-30 Year Treasury ETF
|
Added | 1,233,073 | $35,968,739 | 0.61% | |
| MDT |
Medtronic plc
Healthcare
|
Added | 395,643 | $34,856,148 | 0.59% | |
| COF |
Capital One Financial Corp
Financial Services
|
Added | 308,571 | $33,748,410 | 0.57% | |
| BAB |
Invesco Exchange-Traded Fund Trust II
|
Added | 1,264,891 | $33,582,856 | 0.57% |
Showing the top 50 of 497 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.