Advisory Services Network Loads Up 1.03 Million Walmart Shares

Key Points

• Purchase valued at ~$98.75 million, based on Walmart shares' average price in Q2 2025.

• The trade represented 1.6% of Advisory Services Network’s 13F reportable AUM.

• Walmart became the fund’s fourth-largest disclosed holding after the transaction.

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What happened

According to a filing with the U.S. Securities and Exchange Commission dated August 19, 2025, Advisory Services Network, LLC increased its position in Walmart (NYSE:WMT) by 1,037,777 shares during Q2 2025. The estimated value of the transaction was $98.75 million. The firm reported holding 1,280,829 shares as of June 30, 2025.

What else to know

This purchase brought Walmart to 2.0% of the fund’s 13F assets under management (AUM) at the endof the second quarter.

Top holdings after the filing:

1. Nvidia: $225.78 million (3.63% of AUM)
2. Apple: $183.46 million (2.95% of AUM)
3. Microsoft: $147.66 million (2.38% of AUM)
4. Walmart: $125.50 million (2.02% of AUM)
5. Amazon: $119.91 million (1.93% of AUM)

Walmart shares were priced at $100.70 as of August 18, 2025

Dividend yield: 0.90%; Forward P/E (FY2026): 38.75; EV/EBITDA (TTM): 21.06; 5-year revenue CAGR: 5.38%.

Company Overview

Company Snapshot

• Offers a broad range of products including groceries, consumables, health and wellness items, home goods, apparel, electronics, and financial services through physical stores and e-commerce platforms.
• Targets value-conscious consumers globally, serving both individual shoppers and businesses through its Walmart U.S., Walmart International, and Sam's Club segments.
• Operates a multi-channel retail model that integrates physical stores with digital commerce to maximize reach and convenience for customers.

Walmart operates a multi-channel distribution platform, integrating physical stores with expansive e-commerce operations to reach a broad customer base.

Foolish take

Walmart is a globally recognized retailer with some of the most purchasing power in the world, giving it the ability to function as a discounter at both the big box retail level and the discount warehouse level. Not only does it compete with Target, it also competes with Costco under its Sam’s Warehouse branding.

Over the last few years, Walmart seems to have taken more of Target’s market share by simply existing and having cheaper products, which speaks to a resilience during difficult economic times. It also pays consistent, but small dividends, which can make it appealing to a range of stock investors.

Walmart not only has solid fundamentals, it has seen increasing income and revenues in a time when other retailers are having much more difficulty. This is in part due to the massive purchasing power Walmart wields, in part due to consumers fleeing their preferred retailers for less expensive options, and in part due to Walmart’s continued expansion into new areas, including a long-term push into eCommerce.

This blue chip stock has a game plan that includes streamlining logistics and upgrading technology to get it through difficult financial times, but will feel the pinch from global tariffs that are still in the making. Even so, its ultra-thin margins should keep it competitive in areas like grocery that are not optional for consumers.

Glossary

13F: A quarterly SEC filing by institutional investment managers disclosing holdings of certain U.S. securities.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Dividend Yield: Annual dividends per share divided by the share price, shown as a percentage.
Forward P/E: Price-to-earnings ratio using forecasted earnings for the upcoming fiscal year.
EV/EBITDA: Enterprise Value divided by Earnings Before Interest, Taxes, Depreciation, and Amortization; measures company valuation.
CAGR: Compound Annual Growth Rate; the mean annual growth rate of an investment over a specified period longer than one year.
TTM: The 12-month period ending with the most recent quarterly report.

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Kristi Waterworth has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Apple, Microsoft, Nvidia, and Walmart. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.