Ladenburg Thalmann Financial Services INC. 13F Filings & AI Analysis

CIK: 0001029730

Diversified strategyMomentum followerLong-term holder

Total reported value

$15.9B

Reporting period: 2019-12-31 · Number of holdings: 18603

LADENBURG THALMANN FINANCIAL SERVICES INC. disclosed 18603 holdings in its latest 13F filing for the period ending 2019-12-31, with total reported value of $15.9B and a quarterly turnover rate of 17.9%.

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Personality snowflake

Concentration: 1.84
Portfolio Stability: 17.88
Momentum/Contrarian: 78.35
Sector conviction: 48.14
Diversification: 100
Sizing Uniformity: 49.98

Ladenburg Thalmann Financial Services INC.'s disclosed holdings carry a Herfindahl concentration index of 0.005 — mathematically equivalent to about 218 equally-sized positions, well below its 18603 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 5.00), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 21% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.

Recent moves

Add AAPL
+5.7%　$100.8M
Add QUAL
+216.0%　$68.1M
Trim USMV
-24.4%　-$46.0M
Add SCHG
+51.8%　$66.7M
Trim IWF
-32.6%　-$39.4M
Add SPYV
+55.0%　$52.1M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

LADENBURG THALMANN is not hunting alpha—it is rotating capital from defensives into a risk-on beta tilt. The key moves: selling USMV (min vol) to fund additions to growth and value ETFs (QQQ, SCHG, SPYV, SCHV) and a single-name increase in AAPL, signaling a conviction that the late-cycle rally has further to run.

Macro & Fundamentals

The macro bet embedded here is a regime of continued economic expansion and low volatility, where defensive factors are a drag. The opposing thesis: the cycle is mature, and selling volatility protection now leaves the portfolio vulnerable to the very downturn that USMV is designed to buffer against. They are effectively going short tail risk at what could be the wrong time.

Blind Spots / Risks

With 5,663 positions and a diversification score of 100, the portfolio is essentially a beta clone—no active bet has enough weight to move returns. The marginal rotation from min vol to growth/value is a consensus late-cycle factor trade that is now crowded; if the macroeconomic surprise index turns negative, the simultaneous compression in growth and value multiples would be amplified by the loss of the min vol hedge.

AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.

Top 10 holdings by weight

Full holdings list this quarter

Showing top 200 holdings (of 18603 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	AAPL	Apple INC	Stock-Tech	2.88%	+0.43%	+5.74%
2	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	1.94%	-0.10%	+9.93%
3	VEA	Vanguard Ftse Developed ETF	ETF-Other	1.34%	-0.02%	+0.73%
4	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	1.33%	-0.04%	+5.78%
5	MSFT	Microsoft CORP	Stock-Tech	1.24%	+0.06%	+4.39%
6	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.17%	-0.02%	+1.63%
7	AMZN	Amazon.com INC	Stock-Consumer Disc	1.09%	-0.04%	+345.13%
8	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	1.08%	+0.22%	+25.66%
9	SCHG	Schwab US Large-cap Growth	ETF-Other	1.02%	+0.36%	+51.80%
10	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	1.01%	—	+0.84%
11	USMV	Ishares Msci USA Min Vol Fac	ETF-Other	0.98%	-0.42%	-24.41%
12	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	0.94%	—	-9.04%
13	IVW	Ishares S&p 500 Growth ETF	ETF-Large Cap & Growth	0.85%	-0.01%	+0.98%
14	BND	Vanguard Total Bond Market	ETF-Other	0.84%	+0.01%	+12.33%
15	SPYV	Ss Spdr P S&p 500 Value ETF	ETF-Large Cap & Growth	0.80%	+0.28%	+54.97%
16	IVE	Ishares S&p 500 Value ETF	ETF-Large Cap & Growth	0.75%	+0.10%	+16.27%
17	SCHV	Schwab US Large-cap Value	ETF-Other	0.72%	+0.24%	+53.80%
18	T	At&t INC	Stock-Comm Services	0.71%	—	-0.91%
19	TOTL	Ss Doubleline Tr Tact ETF	ETF-Other	0.70%	—	+7.43%
20	IEFA	Ishares Core Msci Eafe ETF	ETF-Other	0.70%	+0.09%	+13.41%
21	VUG	Vanguard Growth ETF	ETF-Other	0.69%	+0.02%	+5.52%
22	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	0.68%	+0.02%	+2.75%
23	VTV	Vanguard Value ETF	ETF-Other	0.68%	+0.06%	+12.40%
24	GOVT	Ishares US Treasury Bond ETF	ETF-Gov Bonds	0.67%	+0.22%	+66.39%
25	IEMG	Ishares Core Msci Emerging	ETF-Emerging Markets	0.67%	+0.15%	+27.52%
26	BSV	Vanguard Short-term Bond ETF	ETF-Other	0.66%	—	+2.68%
27	ITOT	Ishares Core S&p Total U.s.	ETF-Other	0.66%	+0.27%	+68.25%
28	IWF	Ishares Russell 1000 Growth	ETF-Other	0.64%	-0.34%	-32.65%
29	QUAL	Ishares Msci USA Quality Fac	ETF-Other	0.61%	+0.42%	+215.96%
30	VIG	Vanguard Dividend Apprec ETF	ETF-Other	0.57%	—	+0.11%
31	SCHX	Schwab US Large-cap ETF	ETF-Other	0.56%	—	-2.92%
32	LDUR	Pimco Enhanced Low Duration	ETF-Other	0.52%	—	+3.50%
33	RSP	Invesco S&p 500 Equal Weight	ETF-Large Cap & Growth	0.51%	—	+20.39%
34	ISTB	Ishares Core 1-5 Year Usd Bo	ETF-Other	0.50%	—	-0.58%
35	JNJ	Johnson & Johnson	Stock-Healthcare	0.50%	—	+2.25%
36	IJR	Ishares Core S&p Small-cap E	ETF-Small Cap	0.48%	—	+3.61%
37	IWD	Ishares Russell 1000 Value E	ETF-Other	0.48%	-0.27%	-33.95%
38	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.48%	—	+1.42%
39	DIS	Walt Disney Co/the	Stock-Comm Services	0.45%	+0.03%	+12.71%
40	VZ	Verizon Communications INC	Stock-Comm Services	0.45%	—	+1.46%
41	IWP	Ishares Russell Mid-cap Grow	ETF-Other	0.45%	—	+3.20%
42	V	Visa Inc-class A Shares	Stock-Financials	0.45%	—	+15.83%
43	DIA	Ss Spdr Dow Jones Indus Avg	ETF-Large Cap & Growth	0.44%	—	+3.67%
44	SPLV	Invesco S&p 500 Low Volatili	ETF-Large Cap & Growth	0.43%	+0.02%	+15.67%
45	CVX	Chevron CORP	Stock-Energy	0.42%	—	+1.37%
46	IJH	Ishares Core S&p Midcap ETF	ETF-Other	0.41%	—	+9.05%
47	BNDX	Vanguard Total Intl Bond ETF	ETF-Other	0.41%	—	-1.47%
48	JPM	Jpmorgan Chase & Co	Stock-Financials	0.40%	+0.03%	+10.58%
49	FBND	Fidelity Total Bond ETF	ETF-Other	0.40%	—	+1.85%
50	BA	Boeing Co/the	Stock-Industrials	0.40%	-0.11%	+22.23%

1–50 of 200

Portfolio Performance

Not enough priced holdings yet to compute performance

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2019-12-31	18603	$15.9B	18	1AAPL 2IVV 3VEA Top holdings2019-12-31 1.AAPL 2.IVV 3.VEA 4.SPY 5.MSFT 6.BRK-B 7.AMZN 8.QQQ 9.SCHG 10.VOO
2019-09-30	17988	$14.5B	16	1AAPL 2IVV 3USMV Top holdings2019-09-30 1.AAPL 2.IVV 3.USMV 4.SPY 5.VEA 6.BRK-B 7.MSFT 8.AMZN 9.VOO 10.VTI
2019-06-30	17837	$13.8B	15	1AAPL 2IVV 3VEA Top holdings2019-06-30 1.AAPL 2.IVV 3.VEA 4.SPY 5.AMZN 6.BRK-B 7.MSFT 8.USMV 9.VOO 10.IWF
2019-03-31	17362	$13.1B	23	1AAPL 2IVV 3VEA Top holdings2019-03-31 1.AAPL 2.IVV 3.VEA 4.BRK-B 5.AMZN 6.SPY 7.MSFT 8.USMV 9.IWF 10.VOO
2018-12-31	17229	$11.1B	27	1AAPL 2IVV 3VEA Top holdings2018-12-31 1.AAPL 2.IVV 3.VEA 4.BRK-B 5.AMZN 6.SPY 7.MSFT 8.IWF 9.USMV 10.VOO
2018-09-30	16737	$12.0B	36	1AAPL 2VEA 3BRK-B Top holdings2018-09-30 1.AAPL 2.VEA 3.BRK-B 4.AMZN 5.IVV 6.IWF 7.SPY 8.VTI 9.IVW 10.QQQ
2018-06-30	16494	$10.7B	0	1AAPL 2VEA 3BRK-B Top holdings2018-06-30 1.AAPL 2.VEA 3.BRK-B 4.SPY 5.IVW 6.73935A 7.IWF 8.VUG 9.IVV 10.VOO
2018-03-31	16494	$10.7B	18	1AAPL 2VEA 3BRK-B Top holdings2018-03-31 1.AAPL 2.VEA 3.BRK-B 4.SPY 5.IVW 6.73935A 7.IWF 8.VUG 9.IVV 10.VOO
2017-12-31	15938	$10.5B	20	1AAPL 2VEA 3BRK-B Top holdings2017-12-31 1.AAPL 2.VEA 3.BRK-B 4.SPY 5.IWF 6.VTI 7.73935A 8.VOO 9.IWD 10.VUG
2017-09-30	15022	$9.2B	19	1AAPL 2SPY 3IVW Top holdings2017-09-30 1.AAPL 2.SPY 3.IVW 4.VEA 5.BRK-B 6.IWF 7.73935A 8.IWD 9.VOO 10.VTI
2017-06-30	13241	$8.5B	18	1AAPL 2IVW 3SPY Top holdings2017-06-30 1.AAPL 2.IVW 3.SPY 4.IWF 5.VEA 6.BRK-B 7.IWD 8.73935A 9.VTI 10.IWP
2017-03-31	13087	$7.9B	21	1SPY 2AAPL 3IWF Top holdings2017-03-31 1.SPY 2.AAPL 3.IWF 4.IVW 5.IWD 6.BRK-B 7.T 8.VTI 9.VEA 10.VUG
2016-12-31	12570	$7.2B	20	1SPY 2AAPL 3IWF Top holdings2016-12-31 1.SPY 2.AAPL 3.IWF 4.IWD 5.BRK-B 6.T 7.VTI 8.XOM 9.VUG 10.VEA
2016-09-30	12471	$6.7B	20	1AAPL 2IWF 3SPY Top holdings2016-09-30 1.AAPL 2.IWF 3.SPY 4.IWM 5.IWD 6.T 7.BRK-B 8.XOM 9.VTI 10.VUG
2016-06-30	12343	$6.3B	21	1AAPL 2IWS 3IWF Top holdings2016-06-30 1.AAPL 2.IWS 3.IWF 4.SPY 5.IWD 6.T 7.BRK-B 8.XOM 9.VTI 10.IVE
2016-03-31	11381	$5.7B	28	1AAPL 2IWF 3IWD Top holdings2016-03-31 1.AAPL 2.IWF 3.IWD 4.SPY 5.IVE 6.T 7.BRK-B 8.VTI 9.XOM 10.VUG
2015-12-31	10956	$5.4B	24	1AAPL 2SPY 3IVW Top holdings2015-12-31 1.AAPL 2.SPY 3.IVW 4.IWF 5.IWD 6.BRK-B 7.VTI 8.VUG 9.T 10.BND
2015-09-30	10803	$4.8B	27	1AAPL 2IVW 3IWD Top holdings2015-09-30 1.AAPL 2.IVW 3.IWD 4.BRK-B 5.IWP 6.IWF 7.VIG 8.VUG 9.VTI 10.SPY
2015-06-30	10769	$5.4B	20	1AAPL 2IWP 3IWD Top holdings2015-06-30 1.AAPL 2.IWP 3.IWD 4.IWO 5.BRK-B 6.VTI 7.IWF 8.VUG 9.VIG 10.T
2015-03-31	10302	$5.2B	36	1AAPL 2IWP 3IWD Top holdings2015-03-31 1.AAPL 2.IWP 3.IWD 4.VTI 5.IWO 6.BRK-B 7.VIG 8.IWF 9.VUG 10.SPY
2014-12-31	7815	$4.5B	47	1SPY 2AAPL 3IVW Top holdings2014-12-31 1.SPY 2.AAPL 3.IVW 4.IWD 5.VTI 6.BRK-B 7.VIG 8.VUG 9.IWF 10.FNCL
2014-09-30	4814	$3.7B	29	1HYG 2IVW 3QNDX Top holdings2014-09-30 1.HYG 2.IVW 3.QNDX 4.AAPL 5.IWF 6.IJH 7.VTI 8.IWD 9.OEF 10.AMJEUR
2014-06-30	4769	$3.7B	31	1IWS 2HYG 3QNDX Top holdings2014-06-30 1.IWS 2.HYG 3.QNDX 4.IWF 5.IWD 6.AAPL 7.IEF 8.IVV 9.SJNK 10.VTI
2014-03-31	4593	$3.4B	30	1IVV 2IWM 3QNDX Top holdings2014-03-31 1.IVV 2.IWM 3.QNDX 4.HYG 5.IWF 6.IWO 7.IWS 8.IWP 9.IWD 10.IGSB
2013-12-31	4585	$3.2B	35	1IVV 2IJH 3IWO Top holdings2013-12-31 1.IVV 2.IJH 3.IWO 4.QNDX 5.HYG 6.IWP 7.IWF 8.BSV 9.IWD 10.SSO
2013-09-30	4585	$2.9B	31	1IWM 2IEI 3IGIB Top holdings2013-09-30 1.IWM 2.IEI 3.IGIB 4.QNDX 5.HYG 6.IWP 7.IWO 8.IWF 9.BSV 10.IWD
2013-06-30	4476	$2.8B	0	1IVV 2IWM 3IGIB Top holdings2013-06-30 1.IVV 2.IWM 3.IGIB 4.IWP 5.QNDX 6.IWF 7.SMHC 8.SPY 9.IWD 10.MBB

Holding changes this quarter

Ladenburg Thalmann Financial Services INC.'s most significant position changes for 2019-12-31: Add: Apple INC (AAPL) — shares +5.74%; Add: Ishares Msci USA Quality Fac (QUAL) — shares +215.96%; Trim: Ishares Msci USA Min Vol Fac (USMV) — shares -24.41%; Add: Schwab US Large-cap Growth (SCHG) — shares +51.80%; Trim: Ishares Russell 1000 Growth (IWF) — shares -32.65%.

Position changes disclosed by Ladenburg Thalmann Financial Services INC. for the quarter ending 2019-12-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AAPL	Apple INC	+0.4%	+5.74%	Add
2	QUAL	Ishares Msci USA Quality Fac	+0.4%	+215.96%	Add
3	SCHG	Schwab US Large-cap Growth	+0.4%	+51.80%	Add
4	SPYV	Ss Spdr P S&p 500 Value ETF	+0.3%	+54.97%	Add
5	ITOT	Ishares Core S&p Total U.s.	+0.3%	+68.25%	Add
6	SCHV	Schwab US Large-cap Value	+0.2%	+53.80%	Add
7	QQQ	Invesco Qqq Trust Series 1	+0.2%	+25.66%	Add
8	GOVT	Ishares US Treasury Bond ETF	+0.2%	+66.39%	Add
9	DEUS	Xtrackers Russell US Multi	+0.2%	+888771.43%	Add
10	IEMG	Ishares Core Msci Emerging	+0.2%	+27.52%	Add
11	PKW	Invesco Buyback Achievers Et	+0.2%	+633.27%	Add
12	SIZE	Ishares Msci USA Size Factor	+0.1%	+21197.99%	Add
13	XLK	Ss Technology Select Sector	+0.1%	+49.61%	Add
14	IXUS	Ishares Core Intl Stock ETF	+0.1%	+232.63%	Add
15	IVE	Ishares S&p 500 Value ETF	+0.1%	+16.27%	Add
16	IEFA	Ishares Core Msci Eafe ETF	+0.1%	+13.41%	Add
17	IGIB	Ishares 5-10y Inv Grade CORP	+0.1%	+69.52%	Add
18	MBB	Ishares Mbs ETF	+0.1%	+45.48%	Add
19	IOO	Ishares Global 100 ETF	+0.1%	+3764.46%	Add
20	MSFT	Microsoft CORP	+0.1%	+4.39%	Add
21	VTV	Vanguard Value ETF	+0.1%	+12.40%	Add
22	XLV	Ss Health Care Select Sector	+0.1%	+58.45%	Add
23	FTCS	First Trust Capital Strength	+0.1%	+76.34%	Add
24	INTF	Ishares International Equity	+0.1%	+784.84%	Add
25	ACWV	Ishares Msci Global Min Vol	+0.1%	+23.86%	Add
26	XLC	Ss Comm Select Sector Spdr	+0.1%	+151.18%	Add
27	DIS	Walt Disney Co/the	0%	+12.71%	Add
28	JPM	Jpmorgan Chase & Co	0%	+10.58%	Add
29	META	Meta Platforms Inc-class A	0%	+8.61%	Add
30	VGT	Vanguard Info Tech ETF	0%	+7.24%	Add
31	DGRO	Ishares Core Dividend Growth	0%	+12.78%	Add
32	VUG	Vanguard Growth ETF	0%	+5.52%	Add
33	VWO	Vanguard Ftse Emerging Marke	0%	+2.75%	Add
34	SPLV	Invesco S&p 500 Low Volatili	0%	+15.67%	Add
35	BND	Vanguard Total Bond Market	0%	+12.33%	Add
36	IVW	Ishares S&p 500 Growth ETF	0%	+0.98%	Add
37	VEA	Vanguard Ftse Developed ETF	0%	+0.73%	Add
38	BRK-B	Berkshire Hathaway Inc-cl B	0%	+1.63%	Add
39	SPY	Ss Spdr S&p 500 ETF Trust-us	0%	+5.78%	Add
40	AMZN	Amazon.com INC	0%	+345.13%	Add
41	MTUM	Ishares Msci USA Momentum Fa	-0.1%	-14.20%	Trim
42	LQD	Ishr Ibx Usd Invgd Cb Etf-ui	-0.1%	-12.84%	Trim
43	IVV	Ishares Core S&p 500 ETF	-0.1%	+9.93%	Add
44	IEF	Ishares 7-10 Year Treasury B	-0.1%	-26.94%	Trim
45	BA	Boeing Co/the	-0.1%	+22.23%	Add
46	XLU	St Sr Utl Sl Se Spdr Etf-usd	-0.1%	-45.11%	Trim
47	IJS	Ishares S&p Small-cap 600 Va	-0.2%	-80.49%	Trim
48	IWD	Ishares Russell 1000 Value E	-0.3%	-33.95%	Trim
49	IWF	Ishares Russell 1000 Growth	-0.3%	-32.65%	Trim
50	USMV	Ishares Msci USA Min Vol Fac	-0.4%	-24.41%	Trim

Filing History

Period	Filed	Type	EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-15	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-15	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-15	13F-HR	View on EDGAR
2017-06-30	2017-08-14	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-14	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-15	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-16	13F-HR	View on EDGAR
2015-09-30	2015-11-16	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-15	13F-HR	View on EDGAR
2014-12-31	2015-02-13	13F-HR	View on EDGAR
2014-09-30	2014-11-14	13F-HR	View on EDGAR
2014-06-30	2014-08-14	13F-HR	View on EDGAR
2014-03-31	2014-05-15	13F-HR	View on EDGAR
2013-12-31	2014-02-14	13F-HR	View on EDGAR
2013-09-30	2013-11-14	13F-HR	View on EDGAR
2013-06-30	2013-08-14	13F-HR	View on EDGAR

FAQ

What is Ladenburg Thalmann Financial Services INC. and what type of investor is it?

Ladenburg Thalmann Financial Services INC. 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 (2019-12-31), the firm manages a tracked equity portfolio valued at approximately $15.9B, spread across 18603 disclosed positions.

What are Ladenburg Thalmann Financial Services INC.'s largest equity positions?

Based on the latest 13F filing, Ladenburg Thalmann Financial Services INC.'s top holdings by market value are: 1. Apple INC (AAPL) — $456.8M (2.9%) 2. Ishares Core S&p 500 ETF (IVV) — $307.6M (1.9%) 3. Vanguard Ftse Developed ETF (VEA) — $212.4M (1.3%) 4. Ss Spdr S&p 500 ETF Trust-us (SPY) — $211.7M (1.3%) 5. Microsoft CORP (MSFT) — $197.4M (1.2%)

What changes did Ladenburg Thalmann Financial Services INC. make in its most recent portfolio filing?

In the latest reported quarter, Ladenburg Thalmann Financial Services INC. made 50 notable position adjustments: 0 new positions were initiated, 42 existing holdings were added to, 8 positions were partially reduced, and 0 were completely exited. The largest of these moves: Add: Apple INC (AAPL) — shares +5.74%; Add: Ishares Msci USA Quality Fac (QUAL) — shares +215.96%; Trim: Ishares Msci USA Min Vol Fac (USMV) — shares -24.41%; Add: Schwab US Large-cap Growth (SCHG) — shares +51.80%; Trim: Ishares Russell 1000 Growth (IWF) — shares -32.65%

What sectors does Ladenburg Thalmann Financial Services INC. focus on?

Ladenburg Thalmann Financial Services INC. is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 28.0% • Financials: 15.1% • Communication Services: 13.7% • Consumer Discretionary: 12.3% • Health Care: 11.0% • Consumer Staples: 7.7%

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2026-03-31

Concentration32.7

Portfolio Stability11.8

Sector conviction84.1

4 of the top 5 holdings overlap, including Ishares Core S&p 500 ETF

View detail

Ladenburg Thalmann Financial Services INC. 13F Filings & AI Analysis

CIK: 0001029730

Diversified strategyMomentum followerLong-term holder

Total reported value

$15.9B

Reporting period: 2019-12-31 · Number of holdings: 18603

Browse other institutions with $10B to $100B AUM Browse other institutions starting with "L"

Personality snowflake

Concentration: 1.84
Portfolio Stability: 17.88
Momentum/Contrarian: 78.35
Sector conviction: 48.14
Diversification: 100
Sizing Uniformity: 49.98

Position sizes vary widely across the portfolio (a coefficient of variation of 5.00), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add AAPL
+5.7%　$100.8M
Add QUAL
+216.0%　$68.1M
Trim USMV
-24.4%　-$46.0M
Add SCHG
+51.8%　$66.7M
Trim IWF
-32.6%　-$39.4M
Add SPYV
+55.0%　$52.1M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

Macro & Fundamentals

Blind Spots / Risks

AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.

Top 10 holdings by weight

Full holdings list this quarter

Showing top 200 holdings (of 18603 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	AAPL	Apple INC	Stock-Tech	2.88%	+0.43%	+5.74%
2	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	1.94%	-0.10%	+9.93%
3	VEA	Vanguard Ftse Developed ETF	ETF-Other	1.34%	-0.02%	+0.73%
4	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	1.33%	-0.04%	+5.78%
5	MSFT	Microsoft CORP	Stock-Tech	1.24%	+0.06%	+4.39%
6	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.17%	-0.02%	+1.63%
7	AMZN	Amazon.com INC	Stock-Consumer Disc	1.09%	-0.04%	+345.13%
8	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	1.08%	+0.22%	+25.66%
9	SCHG	Schwab US Large-cap Growth	ETF-Other	1.02%	+0.36%	+51.80%
10	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	1.01%	—	+0.84%
11	USMV	Ishares Msci USA Min Vol Fac	ETF-Other	0.98%	-0.42%	-24.41%
12	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	0.94%	—	-9.04%
13	IVW	Ishares S&p 500 Growth ETF	ETF-Large Cap & Growth	0.85%	-0.01%	+0.98%
14	BND	Vanguard Total Bond Market	ETF-Other	0.84%	+0.01%	+12.33%
15	SPYV	Ss Spdr P S&p 500 Value ETF	ETF-Large Cap & Growth	0.80%	+0.28%	+54.97%
16	IVE	Ishares S&p 500 Value ETF	ETF-Large Cap & Growth	0.75%	+0.10%	+16.27%
17	SCHV	Schwab US Large-cap Value	ETF-Other	0.72%	+0.24%	+53.80%
18	T	At&t INC	Stock-Comm Services	0.71%	—	-0.91%
19	TOTL	Ss Doubleline Tr Tact ETF	ETF-Other	0.70%	—	+7.43%
20	IEFA	Ishares Core Msci Eafe ETF	ETF-Other	0.70%	+0.09%	+13.41%
21	VUG	Vanguard Growth ETF	ETF-Other	0.69%	+0.02%	+5.52%
22	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	0.68%	+0.02%	+2.75%
23	VTV	Vanguard Value ETF	ETF-Other	0.68%	+0.06%	+12.40%
24	GOVT	Ishares US Treasury Bond ETF	ETF-Gov Bonds	0.67%	+0.22%	+66.39%
25	IEMG	Ishares Core Msci Emerging	ETF-Emerging Markets	0.67%	+0.15%	+27.52%
26	BSV	Vanguard Short-term Bond ETF	ETF-Other	0.66%	—	+2.68%
27	ITOT	Ishares Core S&p Total U.s.	ETF-Other	0.66%	+0.27%	+68.25%
28	IWF	Ishares Russell 1000 Growth	ETF-Other	0.64%	-0.34%	-32.65%
29	QUAL	Ishares Msci USA Quality Fac	ETF-Other	0.61%	+0.42%	+215.96%
30	VIG	Vanguard Dividend Apprec ETF	ETF-Other	0.57%	—	+0.11%
31	SCHX	Schwab US Large-cap ETF	ETF-Other	0.56%	—	-2.92%
32	LDUR	Pimco Enhanced Low Duration	ETF-Other	0.52%	—	+3.50%
33	RSP	Invesco S&p 500 Equal Weight	ETF-Large Cap & Growth	0.51%	—	+20.39%
34	ISTB	Ishares Core 1-5 Year Usd Bo	ETF-Other	0.50%	—	-0.58%
35	JNJ	Johnson & Johnson	Stock-Healthcare	0.50%	—	+2.25%
36	IJR	Ishares Core S&p Small-cap E	ETF-Small Cap	0.48%	—	+3.61%
37	IWD	Ishares Russell 1000 Value E	ETF-Other	0.48%	-0.27%	-33.95%
38	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.48%	—	+1.42%
39	DIS	Walt Disney Co/the	Stock-Comm Services	0.45%	+0.03%	+12.71%
40	VZ	Verizon Communications INC	Stock-Comm Services	0.45%	—	+1.46%
41	IWP	Ishares Russell Mid-cap Grow	ETF-Other	0.45%	—	+3.20%
42	V	Visa Inc-class A Shares	Stock-Financials	0.45%	—	+15.83%
43	DIA	Ss Spdr Dow Jones Indus Avg	ETF-Large Cap & Growth	0.44%	—	+3.67%
44	SPLV	Invesco S&p 500 Low Volatili	ETF-Large Cap & Growth	0.43%	+0.02%	+15.67%
45	CVX	Chevron CORP	Stock-Energy	0.42%	—	+1.37%
46	IJH	Ishares Core S&p Midcap ETF	ETF-Other	0.41%	—	+9.05%
47	BNDX	Vanguard Total Intl Bond ETF	ETF-Other	0.41%	—	-1.47%
48	JPM	Jpmorgan Chase & Co	Stock-Financials	0.40%	+0.03%	+10.58%
49	FBND	Fidelity Total Bond ETF	ETF-Other	0.40%	—	+1.85%
50	BA	Boeing Co/the	Stock-Industrials	0.40%	-0.11%	+22.23%

1–50 of 200

Portfolio Performance

Not enough priced holdings yet to compute performance

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2019-12-31	18603	$15.9B	18	1AAPL 2IVV 3VEA Top holdings2019-12-31 1.AAPL 2.IVV 3.VEA 4.SPY 5.MSFT 6.BRK-B 7.AMZN 8.QQQ 9.SCHG 10.VOO
2019-09-30	17988	$14.5B	16	1AAPL 2IVV 3USMV Top holdings2019-09-30 1.AAPL 2.IVV 3.USMV 4.SPY 5.VEA 6.BRK-B 7.MSFT 8.AMZN 9.VOO 10.VTI
2019-06-30	17837	$13.8B	15	1AAPL 2IVV 3VEA Top holdings2019-06-30 1.AAPL 2.IVV 3.VEA 4.SPY 5.AMZN 6.BRK-B 7.MSFT 8.USMV 9.VOO 10.IWF
2019-03-31	17362	$13.1B	23	1AAPL 2IVV 3VEA Top holdings2019-03-31 1.AAPL 2.IVV 3.VEA 4.BRK-B 5.AMZN 6.SPY 7.MSFT 8.USMV 9.IWF 10.VOO
2018-12-31	17229	$11.1B	27	1AAPL 2IVV 3VEA Top holdings2018-12-31 1.AAPL 2.IVV 3.VEA 4.BRK-B 5.AMZN 6.SPY 7.MSFT 8.IWF 9.USMV 10.VOO
2018-09-30	16737	$12.0B	36	1AAPL 2VEA 3BRK-B Top holdings2018-09-30 1.AAPL 2.VEA 3.BRK-B 4.AMZN 5.IVV 6.IWF 7.SPY 8.VTI 9.IVW 10.QQQ
2018-06-30	16494	$10.7B	0	1AAPL 2VEA 3BRK-B Top holdings2018-06-30 1.AAPL 2.VEA 3.BRK-B 4.SPY 5.IVW 6.73935A 7.IWF 8.VUG 9.IVV 10.VOO
2018-03-31	16494	$10.7B	18	1AAPL 2VEA 3BRK-B Top holdings2018-03-31 1.AAPL 2.VEA 3.BRK-B 4.SPY 5.IVW 6.73935A 7.IWF 8.VUG 9.IVV 10.VOO
2017-12-31	15938	$10.5B	20	1AAPL 2VEA 3BRK-B Top holdings2017-12-31 1.AAPL 2.VEA 3.BRK-B 4.SPY 5.IWF 6.VTI 7.73935A 8.VOO 9.IWD 10.VUG
2017-09-30	15022	$9.2B	19	1AAPL 2SPY 3IVW Top holdings2017-09-30 1.AAPL 2.SPY 3.IVW 4.VEA 5.BRK-B 6.IWF 7.73935A 8.IWD 9.VOO 10.VTI
2017-06-30	13241	$8.5B	18	1AAPL 2IVW 3SPY Top holdings2017-06-30 1.AAPL 2.IVW 3.SPY 4.IWF 5.VEA 6.BRK-B 7.IWD 8.73935A 9.VTI 10.IWP
2017-03-31	13087	$7.9B	21	1SPY 2AAPL 3IWF Top holdings2017-03-31 1.SPY 2.AAPL 3.IWF 4.IVW 5.IWD 6.BRK-B 7.T 8.VTI 9.VEA 10.VUG
2016-12-31	12570	$7.2B	20	1SPY 2AAPL 3IWF Top holdings2016-12-31 1.SPY 2.AAPL 3.IWF 4.IWD 5.BRK-B 6.T 7.VTI 8.XOM 9.VUG 10.VEA
2016-09-30	12471	$6.7B	20	1AAPL 2IWF 3SPY Top holdings2016-09-30 1.AAPL 2.IWF 3.SPY 4.IWM 5.IWD 6.T 7.BRK-B 8.XOM 9.VTI 10.VUG
2016-06-30	12343	$6.3B	21	1AAPL 2IWS 3IWF Top holdings2016-06-30 1.AAPL 2.IWS 3.IWF 4.SPY 5.IWD 6.T 7.BRK-B 8.XOM 9.VTI 10.IVE
2016-03-31	11381	$5.7B	28	1AAPL 2IWF 3IWD Top holdings2016-03-31 1.AAPL 2.IWF 3.IWD 4.SPY 5.IVE 6.T 7.BRK-B 8.VTI 9.XOM 10.VUG
2015-12-31	10956	$5.4B	24	1AAPL 2SPY 3IVW Top holdings2015-12-31 1.AAPL 2.SPY 3.IVW 4.IWF 5.IWD 6.BRK-B 7.VTI 8.VUG 9.T 10.BND
2015-09-30	10803	$4.8B	27	1AAPL 2IVW 3IWD Top holdings2015-09-30 1.AAPL 2.IVW 3.IWD 4.BRK-B 5.IWP 6.IWF 7.VIG 8.VUG 9.VTI 10.SPY
2015-06-30	10769	$5.4B	20	1AAPL 2IWP 3IWD Top holdings2015-06-30 1.AAPL 2.IWP 3.IWD 4.IWO 5.BRK-B 6.VTI 7.IWF 8.VUG 9.VIG 10.T
2015-03-31	10302	$5.2B	36	1AAPL 2IWP 3IWD Top holdings2015-03-31 1.AAPL 2.IWP 3.IWD 4.VTI 5.IWO 6.BRK-B 7.VIG 8.IWF 9.VUG 10.SPY
2014-12-31	7815	$4.5B	47	1SPY 2AAPL 3IVW Top holdings2014-12-31 1.SPY 2.AAPL 3.IVW 4.IWD 5.VTI 6.BRK-B 7.VIG 8.VUG 9.IWF 10.FNCL
2014-09-30	4814	$3.7B	29	1HYG 2IVW 3QNDX Top holdings2014-09-30 1.HYG 2.IVW 3.QNDX 4.AAPL 5.IWF 6.IJH 7.VTI 8.IWD 9.OEF 10.AMJEUR
2014-06-30	4769	$3.7B	31	1IWS 2HYG 3QNDX Top holdings2014-06-30 1.IWS 2.HYG 3.QNDX 4.IWF 5.IWD 6.AAPL 7.IEF 8.IVV 9.SJNK 10.VTI
2014-03-31	4593	$3.4B	30	1IVV 2IWM 3QNDX Top holdings2014-03-31 1.IVV 2.IWM 3.QNDX 4.HYG 5.IWF 6.IWO 7.IWS 8.IWP 9.IWD 10.IGSB
2013-12-31	4585	$3.2B	35	1IVV 2IJH 3IWO Top holdings2013-12-31 1.IVV 2.IJH 3.IWO 4.QNDX 5.HYG 6.IWP 7.IWF 8.BSV 9.IWD 10.SSO
2013-09-30	4585	$2.9B	31	1IWM 2IEI 3IGIB Top holdings2013-09-30 1.IWM 2.IEI 3.IGIB 4.QNDX 5.HYG 6.IWP 7.IWO 8.IWF 9.BSV 10.IWD
2013-06-30	4476	$2.8B	0	1IVV 2IWM 3IGIB Top holdings2013-06-30 1.IVV 2.IWM 3.IGIB 4.IWP 5.QNDX 6.IWF 7.SMHC 8.SPY 9.IWD 10.MBB

Holding changes this quarter

Position changes disclosed by Ladenburg Thalmann Financial Services INC. for the quarter ending 2019-12-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AAPL	Apple INC	+0.4%	+5.74%	Add
2	QUAL	Ishares Msci USA Quality Fac	+0.4%	+215.96%	Add
3	SCHG	Schwab US Large-cap Growth	+0.4%	+51.80%	Add
4	SPYV	Ss Spdr P S&p 500 Value ETF	+0.3%	+54.97%	Add
5	ITOT	Ishares Core S&p Total U.s.	+0.3%	+68.25%	Add
6	SCHV	Schwab US Large-cap Value	+0.2%	+53.80%	Add
7	QQQ	Invesco Qqq Trust Series 1	+0.2%	+25.66%	Add
8	GOVT	Ishares US Treasury Bond ETF	+0.2%	+66.39%	Add
9	DEUS	Xtrackers Russell US Multi	+0.2%	+888771.43%	Add
10	IEMG	Ishares Core Msci Emerging	+0.2%	+27.52%	Add
11	PKW	Invesco Buyback Achievers Et	+0.2%	+633.27%	Add
12	SIZE	Ishares Msci USA Size Factor	+0.1%	+21197.99%	Add
13	XLK	Ss Technology Select Sector	+0.1%	+49.61%	Add
14	IXUS	Ishares Core Intl Stock ETF	+0.1%	+232.63%	Add
15	IVE	Ishares S&p 500 Value ETF	+0.1%	+16.27%	Add
16	IEFA	Ishares Core Msci Eafe ETF	+0.1%	+13.41%	Add
17	IGIB	Ishares 5-10y Inv Grade CORP	+0.1%	+69.52%	Add
18	MBB	Ishares Mbs ETF	+0.1%	+45.48%	Add
19	IOO	Ishares Global 100 ETF	+0.1%	+3764.46%	Add
20	MSFT	Microsoft CORP	+0.1%	+4.39%	Add
21	VTV	Vanguard Value ETF	+0.1%	+12.40%	Add
22	XLV	Ss Health Care Select Sector	+0.1%	+58.45%	Add
23	FTCS	First Trust Capital Strength	+0.1%	+76.34%	Add
24	INTF	Ishares International Equity	+0.1%	+784.84%	Add
25	ACWV	Ishares Msci Global Min Vol	+0.1%	+23.86%	Add
26	XLC	Ss Comm Select Sector Spdr	+0.1%	+151.18%	Add
27	DIS	Walt Disney Co/the	0%	+12.71%	Add
28	JPM	Jpmorgan Chase & Co	0%	+10.58%	Add
29	META	Meta Platforms Inc-class A	0%	+8.61%	Add
30	VGT	Vanguard Info Tech ETF	0%	+7.24%	Add
31	DGRO	Ishares Core Dividend Growth	0%	+12.78%	Add
32	VUG	Vanguard Growth ETF	0%	+5.52%	Add
33	VWO	Vanguard Ftse Emerging Marke	0%	+2.75%	Add
34	SPLV	Invesco S&p 500 Low Volatili	0%	+15.67%	Add
35	BND	Vanguard Total Bond Market	0%	+12.33%	Add
36	IVW	Ishares S&p 500 Growth ETF	0%	+0.98%	Add
37	VEA	Vanguard Ftse Developed ETF	0%	+0.73%	Add
38	BRK-B	Berkshire Hathaway Inc-cl B	0%	+1.63%	Add
39	SPY	Ss Spdr S&p 500 ETF Trust-us	0%	+5.78%	Add
40	AMZN	Amazon.com INC	0%	+345.13%	Add
41	MTUM	Ishares Msci USA Momentum Fa	-0.1%	-14.20%	Trim
42	LQD	Ishr Ibx Usd Invgd Cb Etf-ui	-0.1%	-12.84%	Trim
43	IVV	Ishares Core S&p 500 ETF	-0.1%	+9.93%	Add
44	IEF	Ishares 7-10 Year Treasury B	-0.1%	-26.94%	Trim
45	BA	Boeing Co/the	-0.1%	+22.23%	Add
46	XLU	St Sr Utl Sl Se Spdr Etf-usd	-0.1%	-45.11%	Trim
47	IJS	Ishares S&p Small-cap 600 Va	-0.2%	-80.49%	Trim
48	IWD	Ishares Russell 1000 Value E	-0.3%	-33.95%	Trim
49	IWF	Ishares Russell 1000 Growth	-0.3%	-32.65%	Trim
50	USMV	Ishares Msci USA Min Vol Fac	-0.4%	-24.41%	Trim

Filing History

Period	Filed	Type	EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-15	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-15	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-15	13F-HR	View on EDGAR
2017-06-30	2017-08-14	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-14	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-15	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-16	13F-HR	View on EDGAR
2015-09-30	2015-11-16	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-15	13F-HR	View on EDGAR
2014-12-31	2015-02-13	13F-HR	View on EDGAR
2014-09-30	2014-11-14	13F-HR	View on EDGAR
2014-06-30	2014-08-14	13F-HR	View on EDGAR
2014-03-31	2014-05-15	13F-HR	View on EDGAR
2013-12-31	2014-02-14	13F-HR	View on EDGAR
2013-09-30	2013-11-14	13F-HR	View on EDGAR
2013-06-30	2013-08-14	13F-HR	View on EDGAR