KA
Kestra Advisory Services, LLC 13F Disclosure & Portfolio Data
Kestra Advisory Services, LLCDiversified strategyMomentum followerLong-term holder
Total reported value
$26.4B
Reporting period: 2026-03-31 · Number of holdings: 3116
Kestra Advisory Services, LLC disclosed 3116 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $26.4B and a quarterly turnover rate of 17.7%.
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Personality snowflake
- Concentration
- 2.03
- Portfolio Stability
- 17.7
- Momentum/Contrarian
- 84.8
- Sector conviction
- 61.44
- Diversification
- 100
- Sizing Uniformity
- 61.56
Recent moves
Trim MSFT
+9.3% -$76.6M
Trim QUAL
-39.1% -$59.5M
Trim NVDA
+4.2% -$14.1M
Add VISN
+7111.2% $53.5M
Add SGOV
+152.4% $54.2M
Add XOM
+20.1% $54.3M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Kestra is executing a tactical barbell: doubling down on broad equity beta through VTI and QQQ while aggressively layering in short-duration cash equivalents (SGOV, USFR) and shedding the QUAL quality factor — a deliberate rotation from defensive factor exposure into a momentum-leaning, market-cap-weighted bet, with a small cyclical add in XOM.
Macro & Fundamentals
These flows price in a soft-landing regime where the Fed remains on hold, tech-driven nominal growth sustains, and recession risk is off the table. Buying QQQ and VTI while trimming QUAL says they believe the momentum factor will continue to dominate and that the quality safety trade is now overowned. The opposing thesis: this is a late-cycle reflexivity trap — piling into the most consensus equity exposure (large-cap tech) while shorting the one factor that historically dampens drawdowns, all with a tiny cash buffer that provides convexity only if the selloff is gradual.
Blind Spots / Risks
The portfolio's 38.5% information technology overweight, achieved largely through cap-weighted passive instruments, creates a hidden leverage to the top five Nasdaq stocks. Despite the addition of SGOV and USFR, the combined allocation of ~0.7% is trivial relative to the equity duration exposure — this is not a liquidity buffer but a token gesture. The real vulnerability: Kestra has positioned itself as a momentum-chasing closet indexer that has abandoned the one defensive factor (quality) at exactly the moment the crowded momentum trade is most vulnerable to a positioning squeeze or multiple compression event.
Produced with AI assistance from publicly disclosed 13F data. Historical only; not a personalized investment recommendation.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 3105 holdings (of 3116 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 3.03% | -0.15% | +11.32% | |
| 2 | PH | Parker Hannifin CORP | Stock-Industrials | 2.04% | — | -2.57% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 2.04% | -0.24% | +4.21% | |
| 4 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.87% | -0.09% | +8.71% | |
| 5 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.79% | +0.07% | +20.68% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 1.49% | -0.44% | +9.33% | |
| 7 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.36% | — | +4.30% | |
| 8 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.28% | — | +10.72% | |
| 9 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.15% | — | +13.93% | |
| 10 | VUG | Vanguard Growth ETF | ETF-Other | 1.04% | — | +10.05% | |
| 11 | CGDV | Cap Group Dividend Value | ETF-Other | 0.94% | +0.02% | +14.92% | |
| 12 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.90% | +0.11% | +29.30% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.88% | — | +8.38% | |
| 14 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.78% | -0.16% | -1.60% | |
| 15 | RDVY | First Trust Rising Dividend | ETF-Other | 0.75% | — | +4.67% | |
| 16 | VTV | Vanguard Value ETF | ETF-Other | 0.72% | — | +3.74% | |
| 17 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.71% | — | +13.36% | |
| 18 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.71% | +0.06% | +15.07% | |
| 19 | GLD | Spdr Gold Shares | ETF-Commodities | 0.70% | +0.08% | +12.08% | |
| 20 | FBND | Fidelity Total Bond ETF | ETF-Other | 0.68% | — | +7.95% | |
| 21 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.64% | — | +5.73% | |
| 22 | JAAA | Janus Henderson Aaa Clo ETF | ETF-Other | 0.61% | +0.05% | +19.66% | |
| 23 | CAT | Caterpillar INC | Stock-Industrials | 0.59% | +0.11% | +8.66% | |
| 24 | AVGO | Broadcom INC | Stock-Tech | 0.56% | — | +20.91% | |
| 25 | FENI | Fidelity Enhanced Intl ETF | ETF-Other | 0.56% | +0.11% | +32.76% | |
| 26 | XOM | Exxon Mobil CORP | Stock-Energy | 0.50% | +0.18% | +20.12% | |
| 27 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.48% | — | +7.99% | |
| 28 | CGGR | Cap Group Growth Equity | ETF-Other | 0.46% | — | +17.28% | |
| 29 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.46% | — | +10.00% | |
| 30 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.44% | — | +5.47% | |
| 31 | WMT | Walmart INC | Stock-Consumer Staples | 0.44% | +0.04% | +7.75% | |
| 32 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.43% | — | +13.51% | |
| 33 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.43% | +0.06% | +7.94% | |
| 34 | COWZ | Pacer US Cash Cows 100 ETF | ETF-Other | 0.41% | — | +5.08% | |
| 35 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.41% | +0.03% | +3.74% | |
| 36 | TSLA | Tesla INC | Stock-Consumer Disc | 0.41% | — | +10.98% | |
| 37 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.40% | — | +9.76% | |
| 38 | JEPI | Jpmorgan Equity Premium Inco | ETF-Other | 0.39% | — | -7.11% | |
| 39 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.39% | +0.05% | +6.11% | |
| 40 | BND | Vanguard Total Bond Market | ETF-Other | 0.39% | — | +9.69% | |
| 41 | USFR | Wisdomtree Floating Rate Tre | ETF-Other | 0.38% | +0.15% | +78.33% | |
| 42 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 0.37% | +0.02% | +13.53% | |
| 43 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.37% | — | +10.96% | |
| 44 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.37% | — | +10.76% | |
| 45 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 0.36% | — | +13.38% | |
| 46 | ABBV | Abbvie INC | Stock-Healthcare | 0.36% | — | +5.04% | |
| 47 | XLK | Ss Technology Select Sector | ETF-Tech | 0.35% | — | +4.47% | |
| 48 | IYW | Ishares Ustechnology ETF | ETF-Tech | 0.34% | — | +10.96% | |
| 49 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 0.34% | +0.19% | +152.38% | |
| 50 | IWF | Ishares Russell 1000 Growth | ETF-Other | 0.33% | — | +1.07% |
1–50 of 3,105
Portfolio Performance
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+20.7%
Based on 77% of reported portfolio value with available pricing
- Stdev
- +11.5%
- Beta
- +0.85
- Alpha
- +0.6%
- Max Drawdown
- -6.7%
- Annualized Perf
- +16.8%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.84
- Stutzer
- +0.42
- Treynor
- +0.19
- Sterling
- +1.04
- Calmar
- +2.5
- Information Ratio
- -0.63
- Tracking Error
- +3.5%
- Stdev Down
- +5.7%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +31.5%
- Worst 12 Months
- +7.3%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.42
- Stdev Sectors
- +10.2%
- Skewness
- -0.05
- Kurtosis
- -0.42
- Upside Potential
- +4.49
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 3116 | $26.4B | 18 | |
| 2025-12-31 | 4541 | $24.3B | 16 | |
| 2025-09-30 | 2893 | $21.9B | 49 | |
| 2025-06-30 | 2815 | $20.5B | 0 | |
| 2025-03-31 | 2747 | $20.7B | 100 | |
| 2024-12-31 | 2647 | $18.3B | 0 | |
| 2024-09-30 | 2545 | $18.2B | 0 | |
| 2024-06-30 | 2614 | $17.9B | 0 | |
| 2024-03-31 | 2644 | $14.9B | 0 | |
| 2023-12-31 | 2297 | $12.3B | 0 | |
| 2023-09-30 | 2114 | $10.2B | 0 | |
| 2023-06-30 | 2134 | $10.0B | 0 | |
| 2023-03-31 | 2045 | $9.2B | 0 | |
| 2022-12-31 | 2249 | $11.3B | 0 | |
| 2022-09-30 | 2099 | $9.3B | 0 | |
| 2022-06-30 | 2128 | $9.7B | 0 | |
| 2022-03-31 | 2002 | $9.6B | 0 | |
| 2021-12-31 | 2004 | $9.9B | 0 | |
| 2021-09-30 | 2107 | $10.0B | 0 | |
| 2021-06-30 | 1994 | $8.8B | 0 | |
| 2021-03-31 | 1844 | $7.9B | 0 | |
| 2020-12-31 | 1845 | $8.6B | 0 | |
| 2020-09-30 | 1411 | $5.4B | 0 |
Holding changes this quarter
Kestra Advisory Services, LLC's most significant position changes for 2026-03-31: New buy: Ft Vest US Equity Db Etf-feb (DLFE); New buy: Ft Lad Autocall Bar INC ETF (ACYN); Add: Microsoft CORP (MSFT) — shares +9.33%; Trim: Ishares Msci USA Quality Fac (QUAL) — shares -39.06%; Add: Nvidia CORP (NVDA) — shares +4.21%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VISN | Vistance Networks INC | +0.2% | +7111.18% | Add |
| 2 | SGOV | Ishares 0-3 Month Treasury B | +0.2% | +152.38% | Add |
| 3 | XOM | Exxon Mobil CORP | +0.2% | +20.12% | Add |
| 4 | USFR | Wisdomtree Floating Rate Tre | +0.2% | +78.33% | Add |
| 5 | IGSB | Ishares 1-5y Inv Grade CORP | +0.1% | +227.79% | Add |
| 6 | VTI | Vanguard Total Stock Mkt ETF | +0.1% | +29.30% | Add |
| 7 | CAT | Caterpillar INC | +0.1% | +8.66% | Add |
| 8 | FENI | Fidelity Enhanced Intl ETF | +0.1% | +32.76% | Add |
| 9 | SPHQ | Invesco S&p 500 Quality ETF | +0.1% | +363.13% | Add |
| 10 | SMH | Vaneck Semiconductor ETF | +0.1% | +82.33% | Add |
| 11 | GLD | Spdr Gold Shares | +0.1% | +12.08% | Add |
| 12 | FELG | Fidelity Enh Lrg Cap Gwth | +0.1% | +92.15% | Add |
| 13 | DYNF | Ishrs US E F R A Etf-usd INC | +0.1% | +95.35% | Add |
| 14 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | +20.68% | Add |
| 15 | CVX | Chevron CORP | +0.1% | +5.09% | Add |
| 16 | PYLD | Pimco Multisector Bond Actv | +0.1% | +631.11% | Add |
| 17 | VYM | Vanguard High Dvd Yield ETF | +0.1% | +15.07% | Add |
| 18 | PG | Procter & Gamble Co/the | +0.1% | +34.38% | Add |
| 19 | COST | Costco Wholesale CORP | +0.1% | +7.94% | Add |
| 20 | VB | Vanguard Small-cap ETF | +0.1% | +33.29% | Add |
| 21 | XLE | Ss Energy Select Sector | +0.1% | +22.60% | Add |
| 22 | PICK | Ishares Msci Global Metals & | +0.1% | +7087.81% | Add |
| 23 | MISL | First Trust Indxx Aero & Def | +0.1% | +1577.60% | Add |
| 24 | PPA | Invesco Aerospace & Defense | +0.1% | +136.75% | Add |
| 25 | JAAA | Janus Henderson Aaa Clo ETF | +0.1% | +19.66% | Add |
| 26 | JNJ | Johnson & Johnson | +0.1% | +6.11% | Add |
| 27 | PVAL | Putnam Focused Lrg Cap Value | +0.1% | +37.04% | Add |
| 28 | IEMG | Ishares Core Msci Emerging | +0.1% | +48.86% | Add |
| 29 | PHYS | Sprott Physical Gold Trust | +0.1% | +39.66% | Add |
| 30 | GEV | GE Vernova INC | +0.1% | +28.36% | Add |
| 31 | WMT | Walmart INC | 0% | +7.75% | Add |
| 32 | MU | Micron Technology INC | 0% | +8.32% | Add |
| 33 | FQAL | Fidelity Quality Factor ETF | 0% | +33.63% | Add |
| 34 | FDL | First Trust Morn Dvd Lead In | 0% | +46.15% | Add |
| 35 | LVHI | Franklin International Low V | 0% | +29.44% | Add |
| 36 | VZ | Verizon Communications INC | 0% | +5.91% | Add |
| 37 | SCHD | Schwab US Dvd Equity ETF | 0% | +3.74% | Add |
| 38 | DE | Deere & Co | 0% | +6.47% | Add |
| 39 | CGDV | Cap Group Dividend Value | 0% | +14.92% | Add |
| 40 | IJR | Ishares Core S&p Small-cap E | 0% | +13.53% | Add |
| 41 | VOO | Vanguard S&p 500 ETF | — | +13.93% | Add |
| 42 | IVV | Ishares Core S&p 500 ETF | -0.1% | +8.71% | Add |
| 43 | BUFR | Ft Vest Lad Buffervetf-usd I | -0.1% | -22.18% | Trim |
| 44 | AAPL | Apple INC | -0.2% | +11.32% | Add |
| 45 | GOOGL | Alphabet Inc-cl A | -0.2% | -1.60% | Trim |
| 46 | NVDA | Nvidia CORP | -0.2% | +4.21% | Add |
| 47 | QUAL | Ishares Msci USA Quality Fac | -0.3% | -39.06% | Trim |
| 48 | MSFT | Microsoft CORP | -0.4% | +9.33% | Add |
| 49 | DLFE | Ft Vest US Equity Db Etf-feb | — | NEW | New buy |
| 50 | ACYN | Ft Lad Autocall Bar INC ETF | — | NEW | New buy |
FAQ
What is Kestra Advisory Services, LLC and what type of investor is it?
Kestra Advisory Services, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $26.4B, spread across 3116 disclosed positions.
What are Kestra Advisory Services, LLC's largest equity positions?
Based on the latest 13F filing, Kestra Advisory Services, LLC's top holdings by market value are:
1. Apple INC (AAPL) — $801.0M (3.0%)
2. Parker Hannifin CORP (PH) — $539.9M (2.0%)
3. Nvidia CORP (NVDA) — $539.2M (2.0%)
4. Ishares Core S&p 500 ETF (IVV) — $493.3M (1.9%)
5. Invesco Qqq Trust Series 1 (QQQ) — $472.4M (1.8%)
What changes did Kestra Advisory Services, LLC make in its most recent portfolio filing?
In the latest reported quarter, Kestra Advisory Services, LLC made 50 notable position adjustments: 2 new positions were initiated, 45 existing holdings were added to, 3 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Ft Vest US Equity Db Etf-feb (DLFE); New buy: Ft Lad Autocall Bar INC ETF (ACYN); Add: Microsoft CORP (MSFT) — shares +9.33%; Trim: Ishares Msci USA Quality Fac (QUAL) — shares -39.06%; Add: Nvidia CORP (NVDA) — shares +4.21%
What sectors does Kestra Advisory Services, LLC focus on?
Kestra Advisory Services, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 38.5%
• Financials: 11.5%
• Communication Services: 10.7%
• Consumer Discretionary: 10.1%
• Health Care: 9.3%
• Industrials: 8.5%
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