LPL Financial LLC
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 51 quarters, returned +1.5% per quarter — versus +2.0% per quarter from simply owning every 13F stock. It beat that baseline in only 35.3% of quarters (excess t = 0.01, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 5996 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| IVV | $11.1B | | ADD +28% |
| QQQ | $7.8B | | HOLD |
| SPY | $7.4B | | HOLD |
| AAPL | $7.0B | | ADD +2% |
| NVDA | $6.9B | | ADD +2% |
| SPYM | $5.6B | | ADD +8% |
| SPYG | $4.8B | | ADD +2% |
| IEFA | $4.6B | | ADD +4% |
| VOO | $4.5B | | ADD +4% |
| AMZN | $4.1B | | ADD +2% |
| MSFT | $4.0B | | ADD +4% |
| CGDV | $4.0B | | ADD +13% |
| IEMG | $4.0B | | TRIM −8% |
| VTI | $3.8B | | HOLD |
| GOVT | $3.7B | | ADD +15% |
| QQQM | $3.6B | | ADD +11% |
| DYNF | $3.3B | | ADD +11% |
| GOOGL | $3.3B | | ADD +2% |
| SPYV | $3.2B | | HOLD |
| XLK | $3.0B | | HOLD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.