diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1f91e3c77..3d3c55eb3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## Unreleased
 
+### Changed
+
+- Ignored nested ETFs when fetching top holdings for ETF and mutual fund assets from _Yahoo Finance_
+
 ### Fixed
 
 - Added the missing `valueInBaseCurrency` to the response of the import activities endpoint
diff --git a/apps/api/src/services/data-provider/data-enhancer/yahoo-finance/yahoo-finance.service.ts b/apps/api/src/services/data-provider/data-enhancer/yahoo-finance/yahoo-finance.service.ts
index c83e35503..72136dc04 100644
--- a/apps/api/src/services/data-provider/data-enhancer/yahoo-finance/yahoo-finance.service.ts
+++ b/apps/api/src/services/data-provider/data-enhancer/yahoo-finance/yahoo-finance.service.ts
@@ -207,14 +207,16 @@ export class YahooFinanceDataEnhancerService implements DataEnhancerInterface {
 
       if (['ETF', 'MUTUALFUND'].includes(assetSubClass)) {
         response.holdings =
-          assetProfile.topHoldings?.holdings?.map(
-            ({ holdingName, holdingPercent }) => {
+          assetProfile.topHoldings?.holdings
+            ?.filter(({ holdingName }) => {
+              return !holdingName?.includes('ETF');
+            })
+            ?.map(({ holdingName, holdingPercent }) => {
               return {
                 name: this.formatName({ longName: holdingName }),
                 weight: holdingPercent
               };
-            }
-          ) ?? [];
+            }) ?? [];
 
         response.sectors = (
           assetProfile.topHoldings?.sectorWeightings ?? []