Institutional Manager · CIK 0001403438

LPL Financial LLC

FORT MILL, SC · File #028-12526

Latest AUM

$366.18B

Positions

5,869

Top-10 Concentration

38.5%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	SPDR SERIES TRUST	78464A409	-39,175,649	-$4.18B	+$85.8M
REDUCE	SPDR GOLD TR	GLD	-4,551,049	-$1.80B	+$185.9M
ADD	SELECT SECTOR SPDR TR	81369Y605	+21,708,123	+$1.19B	+$15,750
REDUCE	SELECT SECTOR SPDR TR	81369Y209	-6,415,441	-$993.1M	+$100.6M
ADD	SPDR DOW JONES INDL AVERAGE	78467X109	+1,648,992	+$792.5M	+$16,830
ADD	SELECT SECTOR SPDR TR	81369Y704	+4,899,379	+$760.0M	+$13,083
ADD	ISHARES SILVER TR	SLV	+8,718,245	+$561.6M	+$672,525
ADD	CAPITAL GROUP DIVIDEND VALUE	14020W106	+10,904,954	+$475.9M	+$84.7M
REDUCE	ISHARES TR	46432F339	-2,346,797	-$466.1M	+$76.3M
ADD	ISHARES INC	46434G103	+5,465,951	+$367.4M	+$61.1M

Sector Allocation

Financials

10.3%$37.92B

Technology

7.7%$28.38B

Consumer Discretionary

2.3%$8.53B

Healthcare

2.1%$7.64B

Industrials

1.7%$6.40B

Communication Services

1.1%$3.89B

0.8%$2.85B

0.8%$2.76B

0.5%$1.69B

0.3%$1.19B

0.2%$646.2M

Filing History

Feb 11, 202613F HOLDINGS REPORTQ/E Dec 20255,869 pos · $366.18B
Nov 12, 202513F HOLDINGS REPORTQ/E Sep 20255,793 pos · $343.11B
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 20255,548 pos · $299.81B
May 7, 202513F HOLDINGS REPORTQ/E Mar 20255,344 pos · $257.15B
Feb 11, 202513F HOLDINGS REPORTQ/E Dec 20245,274 pos · $246.02B
Nov 8, 202413F HOLDINGS REPORTQ/E Sep 20245,156 pos · $224.32B
Aug 7, 202413F HOLDINGS REPORTQ/E Jun 20245,007 pos · $200.77B
May 10, 202413F HOLDINGS REPORTQ/E Mar 20244,909 pos · $186.27B
Nov 13, 202313F HOLDINGS REPORTQ/E Dec 20234,684 pos · $142.84B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	464287200	10,482,560	$7.18B	4.98%
2	SPDR S&P 500 ETF TR	SPY	10,170,761	$6.94B	4.81%
3	INVESCO QQQ TR	IVZ	10,729,287	$6.59B	4.57%
4	APPLE INC	AAPL	23,606,189	$6.42B	4.45%
5	NVIDIA CORPORATION	NVDA	33,155,918	$6.18B	4.29%
6	MICROSOFT CORP	MSFT	10,008,020	$4.84B	3.36%
7	VANGUARD INDEX FDS	922908769	14,079,780	$4.72B	3.27%
8	SPDR SERIES TRUST	78464A409	40,217,777	$4.29B	2.98%
9	VANGUARD INDEX FDS	922908363	6,814,280	$4.27B	2.96%
10	SPDR SERIES TRUST	78464A854	51,511,055	$4.13B	2.87%
11	AMAZON COM INC	AMZN	16,490,779	$3.81B	2.64%
12	ISHARES TR	46432F842	40,788,933	$3.65B	2.53%
13	ISHARES INC	46434G103	52,461,199	$3.53B	2.45%
14	ISHARES TR	46432F339	16,176,100	$3.21B	2.23%
15	SPDR SERIES TRUST	78464A508	50,099,107	$2.85B	1.97%
16	CAPITAL GROUP DIVIDEND VALUE	14020W106	63,490,640	$2.77B	1.92%
17	BLACKROCK ETF TRUST	BLK	45,131,519	$2.74B	1.90%
18	ISHARES TR	46429B267	119,087,423	$2.74B	1.90%
19	ALPHABET INC	GOOG	8,696,371	$2.72B	1.89%
20	INVESCO EXCH TRADED FD TR II	IVZ	10,725,891	$2.71B	1.88%