LF
LPL Financial LLC 13F Filing History & Holdings
LPL Financial LLCDiversified strategyLong-term holderMomentum follower
Total reported value
$376.6B
Reporting period: 2026-03-31 · Number of holdings: 5964
LPL Financial LLC disclosed 5964 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $376.6B and a quarterly turnover rate of 14.3%.
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Personality snowflake
- Concentration
- 1.7
- Portfolio Stability
- 14.34
- Momentum/Contrarian
- 67.99
- Sector conviction
- 47.19
- Diversification
- 100
- Sizing Uniformity
- 51.54
Recent moves
Trim VTI
-26.7% -$1.4B
Add VONV
+129.0% $1.4B
Trim OEF
-73.2% -$1.2B
Trim MSFT
+3.3% -$1.0B
Trim IWM
-49.6% -$903.4M
Add VONG
+105.3% $845.6M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
LPL executes a capital rotation, trimming domestic breadth funds (VTI, IWM, OEF) while aggressively adding MSFT shares—whose weight drifted lower to 1.02% on price appreciation—and scaling into VONG, IEFA, and EFG. The manager trades absolute concentration for indexing discipline, targeting persistent megacap dominance over broad domestic beta.
Macro & Fundamentals
The flow embeds a rate-resilient regime bet: prioritizing US large-cap growth and developed-market catch-ups while shedding financing-cost-sensitive small/mid-cap exposure. The opposing thesis demands a positioning squeeze back into domestic value; this crowded trade faces an immediate liquidity trap risk if rate cuts stall and mega-cap valuations contract faster than earnings broaden.
Blind Spots / Risks
Structural overhead in the long tail: 5,773 holdings turn half the book into micro-cap friction, creating operational drag that masks true alpha. The strategy bets on megacap durability but pays a steep turnover tax across the breadth portfolio just to maintain coverage discipline.
This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 5773 holdings (of 5964 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 2.01% | +0.05% | +10.53% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.76% | -0.17% | -1.77% | |
| 3 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.63% | -0.18% | -1.47% | |
| 4 | AAPL | Apple INC | Stock-Tech | 1.60% | -0.16% | +0.36% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 1.55% | -0.14% | +0.99% | |
| 6 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 1.19% | +0.06% | +13.88% | |
| 7 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.11% | +0.11% | +12.85% | |
| 8 | SPYG | Ss Spdr P S&p 500 Growth ETF | ETF-Large Cap & Growth | 1.04% | -0.13% | -0.97% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 1.02% | -0.30% | +3.29% | |
| 10 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.02% | -0.15% | -6.03% | |
| 11 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.97% | — | -0.44% | |
| 12 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.93% | -0.11% | +1.73% | |
| 13 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.88% | -0.41% | -26.67% | |
| 14 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 0.86% | +0.11% | +18.31% | |
| 15 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 0.82% | — | -0.12% | |
| 16 | CGDV | Cap Group Dividend Value | ETF-Other | 0.81% | +0.05% | +13.17% | |
| 17 | SPYV | Ss Spdr P S&p 500 Value ETF | ETF-Large Cap & Growth | 0.77% | — | +2.77% | |
| 18 | MBB | Ishares Mbs ETF | ETF-Other | 0.71% | — | +0.29% | |
| 19 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.68% | -0.06% | +2.14% | |
| 20 | DYNF | Ishrs US E F R A Etf-usd INC | ETF-Other | 0.68% | -0.07% | -2.95% | |
| 21 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 0.66% | -0.08% | -1.86% | |
| 22 | VONV | Vanguard Russell 1000 Value | ETF-Other | 0.65% | +0.36% | +129.03% | |
| 23 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.63% | — | +5.41% | |
| 24 | VUG | Vanguard Growth ETF | ETF-Other | 0.63% | -0.10% | -1.71% | |
| 25 | IUSG | Ishares Core S&p U.s. Growth | ETF-Other | 0.59% | — | +1.09% | |
| 26 | IVE | Ishares S&p 500 Value ETF | ETF-Large Cap & Growth | 0.59% | — | -4.62% | |
| 27 | RDVY | First Trust Rising Dividend | ETF-Other | 0.59% | — | +5.99% | |
| 28 | VTV | Vanguard Value ETF | ETF-Other | 0.58% | — | +4.08% | |
| 29 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | ETF-Other | 0.58% | — | +3.90% | |
| 30 | CGGR | Cap Group Growth Equity | ETF-Other | 0.56% | — | +15.75% | |
| 31 | XLK | Ss Technology Select Sector | ETF-Tech | 0.55% | -0.08% | -1.67% | |
| 32 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 0.55% | — | -5.06% | |
| 33 | AVGO | Broadcom INC | Stock-Tech | 0.55% | — | +4.85% | |
| 34 | GLD | Spdr Gold Shares | ETF-Commodities | 0.54% | — | -1.55% | |
| 35 | VONG | Vanguard Russell 1000 Growth | ETF-Other | 0.49% | +0.22% | +105.31% | |
| 36 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.48% | — | +1.37% | |
| 37 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.47% | — | -2.61% | |
| 38 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.47% | -0.08% | +1.84% | |
| 39 | IUSV | Ishares Core S&p U.s. Value | ETF-Other | 0.47% | — | +4.99% | |
| 40 | SPIB | Ss Spdr P Int C CORP ETF | ETF-Other | 0.46% | — | +5.95% | |
| 41 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 0.46% | — | +1.83% | |
| 42 | IWF | Ishares Russell 1000 Growth | ETF-Other | 0.43% | — | +2.23% | |
| 43 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.43% | — | +1.20% | |
| 44 | BUFR | Ft Vest Lad Buffervetf-usd I | ETF-Other | 0.42% | — | +5.56% | |
| 45 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.42% | -0.06% | -1.21% | |
| 46 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 0.41% | -0.11% | -20.79% | |
| 47 | EFV | Ishares Msci Eafe Value ETF | ETF-Other | 0.41% | — | +6.72% | |
| 48 | SPTI | Ss Spdr P Int Term Tsy ETF | ETF-Other | 0.41% | — | +10.32% | |
| 49 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 0.41% | +0.08% | +27.33% | |
| 50 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.40% | — | +1.34% |
1–50 of 5,773
Portfolio Performance
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+18.6%
Based on 76% of reported portfolio value with available pricing
- Stdev
- +10.9%
- Beta
- +0.81
- Alpha
- -0.1%
- Max Drawdown
- -6.3%
- Annualized Perf
- +15.2%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +2.73
- Stutzer
- +0.4
- Treynor
- +0.18
- Sterling
- +0.98
- Calmar
- +2.41
- Information Ratio
- -1.04
- Tracking Error
- +3.5%
- Stdev Down
- +5.4%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +28.5%
- Worst 12 Months
- +6.5%
- Efficiency Ratio
- +0.53
- Sharpe
- +1.36
- Stdev Sectors
- +7.8%
- Skewness
- +0.02
- Kurtosis
- -0.4
- Upside Potential
- +4.41
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 5964 | $376.6B | 14 | |
| 2025-12-31 | 5869 | $366.2B | 11 | |
| 2025-09-30 | 5793 | $343.1B | 30 | |
| 2025-06-30 | 5548 | $299.8B | 0 | |
| 2025-03-31 | 5344 | $257.1B | 100 | |
| 2024-12-31 | 5274 | $246.0B | 0 | |
| 2024-09-30 | 5156 | $224.3B | 0 | |
| 2024-06-30 | 5007 | $200.8B | 0 | |
| 2024-03-31 | 4909 | $186.3B | 0 | |
| 2023-12-31 | 4792 | $165.1B | 0 | |
| 2023-09-30 | 4684 | $142.8B | 0 | |
| 2023-06-30 | 4584 | $140.0B | 0 | |
| 2023-03-31 | 4482 | $128.5B | 0 | |
| 2022-12-31 | 4451 | $116.8B | 0 | |
| 2022-09-30 | 4416 | $103.6B | 0 | |
| 2022-06-30 | 4418 | $105.3B | 0 | |
| 2022-03-31 | 4174 | $116.4B | 0 | |
| 2021-12-31 | 4335 | $119.2B | 0 | |
| 2021-09-30 | 4319 | $106.5B | 0 | |
| 2021-06-30 | 4218 | $98.9B | 100 | |
| 2021-03-31 | 4071 | $87.0B | 18 | |
| 2020-12-31 | 3805 | $77.2B | 23 | |
| 2020-09-30 | 3545 | $64.0B | 15 | |
| 2020-06-30 | 3458 | $57.4B | 26 | |
| 2020-03-31 | 3202 | $46.4B | 24 | |
| 2019-12-31 | 3341 | $55.0B | 14 | |
| 2019-09-30 | 3286 | $49.1B | 15 | |
| 2019-06-30 | 3275 | $46.9B | 13 | |
| 2019-03-31 | 3182 | $44.0B | 19 | |
| 2018-12-31 | 3070 | $37.6B | 18 | |
| 2018-09-30 | 3227 | $41.7B | 14 | |
| 2018-06-30 | 3206 | $38.1B | 23 | |
| 2018-03-31 | 3175 | $36.3B | 16 | |
| 2017-12-31 | 3020 | $32.9B | 19 | |
| 2017-09-30 | 2861 | $28.3B | 13 | |
| 2017-06-30 | 2794 | $26.4B | 68 | |
| 2017-03-31 | 2700 | $14.7B | 24 | |
| 2016-12-31 | 2680 | $13.1B | 42 | |
| 2016-09-30 | 2631 | $10.5B | 34 | |
| 2016-06-30 | 2620 | $11.8B | 100 | |
| 2016-03-31 | 3102 | $35.9B | 23 | |
| 2015-12-31 | 3160 | $36.1B | 68 | |
| 2015-09-30 | 2786 | $18.2B | 21 | |
| 2015-06-30 | 2871 | $19.7B | 16 | |
| 2015-03-31 | 2780 | $19.6B | 22 | |
| 2014-12-31 | 2722 | $18.3B | 22 | |
| 2014-09-30 | 2696 | $16.8B | 100 | |
| 2014-06-30 | 2677 | $4.6B | 100 | |
| 2014-03-31 | 2637 | $16.3B | 18 | |
| 2013-12-31 | 2644 | $16.0B | 18 | |
| 2013-09-30 | 2535 | $15.0B | 29 | |
| 2013-06-30 | 2419 | $13.9B | — |
Holding changes this quarter
LPL Financial LLC's most significant position changes for 2026-03-31: New buy: Ishares Lrg Cp Cr Act Etf-ui (BLCR); New buy: Ishares Lt National Muni Bd (LMUB); Trim: Vanguard Total Stock Mkt ETF (VTI) — shares -26.67%; Add: Vanguard Russell 1000 Value (VONV) — shares +129.03%; Trim: Ishares S&p 100 ETF (OEF) — shares -73.21%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VONV | Vanguard Russell 1000 Value | +0.4% | +129.03% | Add |
| 2 | VONG | Vanguard Russell 1000 Growth | +0.2% | +105.31% | Add |
| 3 | EFG | Ishares Msci Eafe Growth ETF | +0.2% | +266.62% | Add |
| 4 | DBMF | Imgp Dbi Managed Futures Str | +0.1% | +290.66% | Add |
| 5 | IEFA | Ishares Core Msci Eafe ETF | +0.1% | +12.85% | Add |
| 6 | GOVT | Ishares US Treasury Bond ETF | +0.1% | +18.31% | Add |
| 7 | IDEF | Ishares Def Industrials Act | +0.1% | +53905.98% | Add |
| 8 | XLE | Ss Energy Select Sector | +0.1% | +19.99% | Add |
| 9 | SLYG | Ss Spdr S&p 600 Sc Gr ETF | +0.1% | +78.07% | Add |
| 10 | BIL | Ss Spdr Bb 1-3m T-bill ETF | +0.1% | +27.33% | Add |
| 11 | XOM | Exxon Mobil CORP | +0.1% | -2.84% | Trim |
| 12 | CGMM | Cap Group Small And Mid Cap | +0.1% | +347.32% | Add |
| 13 | CVX | Chevron CORP | +0.1% | +5.28% | Add |
| 14 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +0.1% | +13.88% | Add |
| 15 | IVV | Ishares Core S&p 500 ETF | +0.1% | +10.53% | Add |
| 16 | CGDV | Cap Group Dividend Value | +0.1% | +13.17% | Add |
| 17 | RSP | Invesco S&p 500 Equal Weight | +0.1% | +21.39% | Add |
| 18 | SGOV | Ishares 0-3 Month Treasury B | +0.1% | +23.42% | Add |
| 19 | JBND | Jpmorgan Active Bond ETF | +0.1% | +28.73% | Add |
| 20 | CAT | Caterpillar INC | +0.1% | +7.42% | Add |
| 21 | COST | Costco Wholesale CORP | +0.1% | +4.02% | Add |
| 22 | FDL | First Trust Morn Dvd Lead In | 0% | +14.87% | Add |
| 23 | JEPI | Jpmorgan Equity Premium Inco | 0% | +73.00% | Add |
| 24 | EMB | Ishares Jp Morgan Usd Emergi | -0.1% | -62.30% | Trim |
| 25 | ITA | Ishares U.s. Aerospace & Def | -0.1% | -26.35% | Trim |
| 26 | IYW | Ishares Ustechnology ETF | -0.1% | -15.38% | Trim |
| 27 | IAU | Ishares Gold Trust | -0.1% | -25.92% | Trim |
| 28 | XLF | Ss Financial Select Sector | -0.1% | -7.12% | Trim |
| 29 | JPM | Jpmorgan Chase & Co | -0.1% | -1.21% | Trim |
| 30 | GOOGL | Alphabet Inc-cl A | -0.1% | +2.14% | Add |
| 31 | TSLA | Tesla INC | -0.1% | +3.94% | Add |
| 32 | DYNF | Ishrs US E F R A Etf-usd INC | -0.1% | -2.95% | Trim |
| 33 | META | Meta Platforms Inc-class A | -0.1% | +1.84% | Add |
| 34 | XLK | Ss Technology Select Sector | -0.1% | -1.67% | Trim |
| 35 | QQQM | Invesco Nasdaq 100 ETF | -0.1% | -1.86% | Trim |
| 36 | VUG | Vanguard Growth ETF | -0.1% | -1.71% | Trim |
| 37 | IJH | Ishares Core S&p Midcap ETF | -0.1% | -20.79% | Trim |
| 38 | AMZN | Amazon.com INC | -0.1% | +1.73% | Add |
| 39 | SPYG | Ss Spdr P S&p 500 Growth ETF | -0.1% | -0.97% | Trim |
| 40 | NVDA | Nvidia CORP | -0.1% | +0.99% | Add |
| 41 | VOO | Vanguard S&p 500 ETF | -0.2% | -6.03% | Trim |
| 42 | AAPL | Apple INC | -0.2% | +0.36% | Add |
| 43 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.2% | -1.77% | Trim |
| 44 | QQQ | Invesco Qqq Trust Series 1 | -0.2% | -1.47% | Trim |
| 45 | IWM | Ishares Russell 2000 ETF | -0.3% | -49.60% | Trim |
| 46 | MSFT | Microsoft CORP | -0.3% | +3.29% | Add |
| 47 | OEF | Ishares S&p 100 ETF | -0.3% | -73.21% | Trim |
| 48 | VTI | Vanguard Total Stock Mkt ETF | -0.4% | -26.67% | Trim |
| 49 | BLCR | Ishares Lrg Cp Cr Act Etf-ui | — | NEW | New buy |
| 50 | LMUB | Ishares Lt National Muni Bd | — | NEW | New buy |
FAQ
What is LPL Financial LLC and what type of investor is it?
LPL Financial 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 $376.6B, spread across 5964 disclosed positions.
What are LPL Financial LLC's largest equity positions?
Based on the latest 13F filing, LPL Financial LLC's top holdings by market value are:
1. Ishares Core S&p 500 ETF (IVV) — $7.6B (2.0%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $6.6B (1.8%)
3. Invesco Qqq Trust Series 1 (QQQ) — $6.1B (1.6%)
4. Apple INC (AAPL) — $6.0B (1.6%)
5. Nvidia CORP (NVDA) — $5.8B (1.6%)
What changes did LPL Financial LLC make in its most recent portfolio filing?
In the latest reported quarter, LPL Financial LLC made 50 notable position adjustments: 2 new positions were initiated, 29 existing holdings were added to, 19 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Ishares Lrg Cp Cr Act Etf-ui (BLCR); New buy: Ishares Lt National Muni Bd (LMUB); Trim: Vanguard Total Stock Mkt ETF (VTI) — shares -26.67%; Add: Vanguard Russell 1000 Value (VONV) — shares +129.03%; Trim: Ishares S&p 100 ETF (OEF) — shares -73.21%
What sectors does LPL Financial LLC focus on?
LPL Financial LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 31.1%
• Financials: 12.6%
• Industrials: 10.3%
• Consumer Discretionary: 9.8%
• Communication Services: 9.2%
• Health Care: 9.1%
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