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 32 quarters, returned +2.6% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 43.8% of quarters (excess t = 0.12, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 5772 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| IVV | $7.6B | | ADD |
| SPY | $6.5B | | TRIM |
| QQQ | $6.1B | | HOLD |
| AAPL | $6.0B | | HOLD |
| NVDA | $5.8B | | HOLD |
| SPYM | $4.5B | | ADD |
| IEFA | $4.2B | | ADD |
| SPYG | $3.9B | | HOLD |
| MSFT | $3.8B | | ADD |
| VOO | $3.8B | | TRIM |
| IEMG | $3.6B | | HOLD |
| AMZN | $3.5B | | HOLD |
| VTI | $3.3B | | TRIM |
| GOVT | $3.2B | | ADD |
| QUAL | $3.1B | | HOLD |
| CGDV | $3.1B | | ADD |
| SPYV | $2.9B | | ADD |
| MBB | $2.7B | | HOLD |
| GOOGL | $2.6B | | ADD |
| DYNF | $2.5B | | TRIM |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
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 47 days after quarter-end — the first day the public could act on the filing. 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.