LPL Financial LLC
Reported US equity positions for Q1 2026 — $376.2B across 5,772 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| IVV iShares Core S&P 500 ETF | $7.6B | 2.0% | 11,586,990 |
| SPY State Street SPDR S&P 500 ETF Trust | $6.5B | 1.7% | 9,962,967 |
| QQQ Invesco QQQ Trust, Series 1 | $6.1B | 1.6% | 10,558,431 |
| AAPL Apple Inc. | $6.0B | 1.6% | 23,695,604 |
| NVDA NVIDIA Corporation | $5.8B | 1.6% | 33,503,160 |
| SPYM State Street SPDR Portfolio S&P 500 ETF | $4.5B | 1.2% | 58,660,538 |
| IEFA iShares Core MSCI EAFE ETF | $4.2B | 1.1% | 46,029,515 |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | $3.9B | 1.0% | 39,830,479 |
| MSFT Microsoft Corporation | $3.8B | 1.0% | 10,337,597 |
| VOO Vanguard S&P 500 ETF | $3.8B | 1.0% | 6,401,368 |
| IEMG iShares Core MSCI Emerging Markets ETF | $3.6B | 1.0% | 52,231,526 |
| AMZN Amazon.com, Inc. | $3.5B | 0.9% | 16,776,756 |
| VTI Vanguard Morningstar Total Stock Market ETF | $3.3B | 0.9% | 10,325,305 |
| GOVT iShares U.S. Treasury Bond ETF | $3.2B | 0.9% | 140,890,662 |
| QUAL iShares MSCI USA Quality Factor ETF | $3.1B | 0.8% | 16,156,372 |
| CGDV Capital Group Dividend Value ETF | $3.1B | 0.8% | 71,850,473 |
| SPYV State Street SPDR Portfolio S&P 500 Value ETF | $2.9B | 0.8% | 51,485,691 |
| MBB iShares MBS ETF | $2.7B | 0.7% | 27,984,290 |
| GOOGL Alphabet Inc. | $2.6B | 0.7% | 8,883,479 |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | $2.5B | 0.7% | 43,801,022 |
| QQQM Invesco NASDAQ 100 ETF | $2.5B | 0.7% | 10,526,183 |
| VONV Vanguard Russell 1000 Value ETF | $2.5B | 0.7% | 26,151,759 |
| IVW iShares S&P 500 Growth ETF | $2.4B | 0.6% | 20,889,253 |
| VUG Vanguard Morningstar Growth ETF | $2.4B | 0.6% | 5,395,832 |
| IUSG iShares Core S&P U.S. Growth ETF | $2.2B | 0.6% | 14,379,337 |
| IVE iShares S&P 500 Value ETF | $2.2B | 0.6% | 10,505,241 |
| RDVY First Trust Rising Dividend Achievers ETF | $2.2B | 0.6% | 32,332,134 |
| VTV Vanguard Morningstar Value ETF | $2.2B | 0.6% | 11,180,221 |
| IUSB iShares Core Universal USD Bond ETF | $2.2B | 0.6% | 47,282,506 |
| CGGR Capital Group Growth ETF | $2.1B | 0.6% | 52,561,577 |
| XLK State Street Technology Select Sector SPDR ETF | $2.1B | 0.6% | 15,714,943 |
| IJR iShares Core S&P Small-Cap ETF | $2.1B | 0.5% | 16,639,004 |
| AVGO Broadcom Inc. | $2.1B | 0.5% | 6,643,394 |
| GLD SPDR Gold Shares | $2.0B | 0.5% | 4,735,301 |
| VONG Vanguard Russell 1000 Growth ETF | $1.8B | 0.5% | 16,782,350 |
| GOOG Alphabet Inc. - Class C Capital Stock | $1.8B | 0.5% | 6,225,801 |
| VEA Vanguard FTSE Developed Markets ETF | $1.8B | 0.5% | 27,795,967 |
| META Meta Platforms, Inc. | $1.8B | 0.5% | 3,087,517 |
| IUSV iShares Core S&P U.S. Value ETF | $1.8B | 0.5% | 17,225,624 |
| SPIB State Street SPDR Portfolio Intermediate Term Corporate Bond ETF | $1.7B | 0.5% | 51,974,915 |
| SPDW State Street SPDR Portfolio Developed World ex-US ETF | $1.7B | 0.5% | 38,025,802 |
| IWF iShares Russell 1000 Growth Fund | $1.6B | 0.4% | 3,839,355 |
| BRK.B Berkshire Hathaway Inc. | $1.6B | 0.4% | 3,408,718 |
| BUFR FT Vest Laddered Buffer ETF | $1.6B | 0.4% | 47,103,344 |
| JPM JP Morgan Chase & Co. | $1.6B | 0.4% | 5,390,938 |
| IJH iShares Core S&P Mid-Cap ETF | $1.6B | 0.4% | 23,069,377 |
| EFV iShares MSCI EAFE Value ETF | $1.6B | 0.4% | 20,848,511 |
| SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF | $1.5B | 0.4% | 53,851,890 |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | $1.5B | 0.4% | 16,776,336 |
| VIG Vanguard Div Appreciation ETF | $1.5B | 0.4% | 7,002,475 |
| DGRO iShares Core Dividend Growth ETF | $1.4B | 0.4% | 20,236,610 |
| BND Vanguard Total Bond Market ETF | $1.4B | 0.4% | 19,093,602 |
| AGG iShares Core U.S. Aggregate Bond ETF | $1.4B | 0.4% | 13,878,686 |
| RSP Invesco S&P 500 Equal Weight ETF | $1.3B | 0.3% | 6,660,526 |
| TSLA Tesla, Inc. | $1.3B | 0.3% | 3,368,120 |
| MUB iShares National Muni Bond ETF | $1.2B | 0.3% | 11,762,384 |
| XOM ExxonMobil Holdings Corporation | $1.2B | 0.3% | 7,125,105 |
| JNJ Johnson & Johnson | $1.2B | 0.3% | 4,898,849 |
| SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF | $1.2B | 0.3% | 24,590,961 |
| COWZ Pacer US Cash Cows 100 ETF | $1.2B | 0.3% | 18,606,409 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| IVV iShares Core S&P 500 ETF | Add | $7.6B | $7.2B | +11% |
| SPY State Street SPDR S&P 500 ETF Trust | Trim | $6.5B | $6.9B | -2% |
| QQQ Invesco QQQ Trust, Series 1 | Trim | $6.1B | $6.6B | -2% |
| NVDA NVIDIA Corporation | Add | $5.8B | $6.2B | +1% |
| SPYM State Street SPDR Portfolio S&P 500 ETF | Add | $4.5B | $4.1B | +14% |
| IEFA iShares Core MSCI EAFE ETF | Add | $4.2B | $3.6B | +13% |
| MSFT Microsoft Corporation | Add | $3.8B | $4.8B | +3% |
| VOO Vanguard S&P 500 ETF | Trim | $3.8B | $4.3B | -6% |
| AMZN Amazon.com, Inc. | Add | $3.5B | $3.8B | +2% |
| VTI Vanguard Morningstar Total Stock Market ETF | Trim | $3.3B | $4.7B | -27% |
| GOVT iShares U.S. Treasury Bond ETF | Add | $3.2B | $2.7B | +18% |
| CGDV Capital Group Dividend Value ETF | Add | $3.1B | $2.8B | +13% |
| SPYV State Street SPDR Portfolio S&P 500 Value ETF | Add | $2.9B | $2.8B | +3% |
| GOOGL Alphabet Inc. | Add | $2.6B | $2.7B | +2% |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | Trim | $2.5B | $2.7B | -3% |
| QQQM Invesco NASDAQ 100 ETF | Trim | $2.5B | $2.7B | -2% |
| VONV Vanguard Russell 1000 Value ETF | Add | $2.5B | $1.1B | +129% |
| IVW iShares S&P 500 Growth ETF | Add | $2.4B | $2.4B | +5% |
| VUG Vanguard Morningstar Growth ETF | Trim | $2.4B | $2.7B | -2% |
| IUSG iShares Core S&P U.S. Growth ETF | Add | $2.2B | $2.4B | +1% |
| IVE iShares S&P 500 Value ETF | Trim | $2.2B | $2.3B | -5% |
| RDVY First Trust Rising Dividend Achievers ETF | Add | $2.2B | $2.1B | +6% |
| VTV Vanguard Morningstar Value ETF | Add | $2.2B | $2.1B | +4% |
| IUSB iShares Core Universal USD Bond ETF | Add | $2.2B | $2.1B | +4% |
| CGGR Capital Group Growth ETF | Add | $2.1B | $2.0B | +16% |
| XLK State Street Technology Select Sector SPDR ETF | Trim | $2.1B | $2.3B | -2% |
| IJR iShares Core S&P Small-Cap ETF | Trim | $2.1B | $2.1B | -5% |
| AVGO Broadcom Inc. | Add | $2.1B | $2.2B | +5% |
| GLD SPDR Gold Shares | Trim | $2.0B | $1.9B | -2% |
| VONG Vanguard Russell 1000 Growth ETF | Add | $1.8B | $995.2M | +105% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $1.8B | $1.9B | +1% |
| VEA Vanguard FTSE Developed Markets ETF | Trim | $1.8B | $1.8B | -3% |
| META Meta Platforms, Inc. | Add | $1.8B | $2.0B | +2% |
| IUSV iShares Core S&P U.S. Value ETF | Add | $1.8B | $1.7B | +5% |
| SPIB State Street SPDR Portfolio Intermediate Term Corporate Bond ETF | Add | $1.7B | $1.7B | +6% |
| SPDW State Street SPDR Portfolio Developed World ex-US ETF | Add | $1.7B | $1.7B | +2% |
| IWF iShares Russell 1000 Growth Fund | Add | $1.6B | $1.8B | +2% |
| BRK.B Berkshire Hathaway Inc. | Add | $1.6B | $1.7B | +1% |
| BUFR FT Vest Laddered Buffer ETF | Add | $1.6B | $1.5B | +6% |
| JPM JP Morgan Chase & Co. | Trim | $1.6B | $1.8B | -1% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.