Style
IndexTurnover
Orientation
Index / PassiveLPL Financial LLC pursues an active, growth-oriented style with very low turnover, reflecting a long-term conviction-based approach. Its portfolio is heavily concentrated in broad-market ETFs, with top holdings including IVV, SPY, and QQQ representing $20.2 billion combined, while single-stock positions like Apple, Nvidia, and Microsoft each account for roughly 1.6% of assets. Sector allocation is dominated by an unclassified category at 75.8%, suggesting significant use of diversified index vehicles that obscure underlying sector bets, with technology as the largest explicit sector at just 7.5%. The inclusion of both U.S. and international ETFs (IEFA, IEMG) alongside Treasury exposure (GOVT) and quality-factor tilts (QUAL) indicates a strategic blend of core market exposure, modest global diversification, and defensive positioning, consistent with a disciplined, low-turnover philosophy.
| # | Security | Shares | Value | % of Portfolio |
|---|---|---|---|---|
| 1 | Ishares TR(IVV) | 14,782,609 | $11.1B | 2.49% |
| 2 | Invesco QQQ TR(QQQ) | 10,606,761 | $7.8B | 1.75% |
| 3 | State STR Spdr S&P 500 ETF T(SPY) | 9,899,502 | $7.4B | 1.66% |
| 4 | Apple Inc(AAPL) | 24,255,694 | $7.0B | 1.58% |
Latest filing, equity positions only
| 5 |
| Nvidia Corporation(NVDA) |
| 34,302,392 |
| $6.9B |
| 1.54% |
| 6 | Spdr Series Trust(SPYM) | 63,355,614 | $5.6B | 1.25% |
| 7 | Spdr Series Trust(SPYG) | 40,632,371 | $4.8B | 1.09% |
| 8 | Ishares TR(IEFA) | 47,763,542 | $4.6B | 1.04% |
| 9 | Vanguard Index FDS(VOO) | 6,623,289 | $4.5B | 1.02% |
| 10 | Amazon COM Inc(AMZN) | 17,124,075 | $4.1B | 0.92% |
Quarter-over-quarter weight changes
| Sector | Prev % | Curr % | Change |
|---|---|---|---|
| Technology | 7.59% | 8.64% | +1.05% |
| Energy | 1.31% | 0.99% | -0.32% |
| Unclassified | 75.1% | 75.4% | +0.3% |
| Consumer Defensive | 1.5% | 1.29% | -0.21% |
| Financial Services | 3.52% | 3.32% | -0.2% |
| Consumer Cyclical | 2.37% | 2.23% | -0.14% |
| Communication Services | 2.3% | 2.16% | -0.14% |
| Healthcare | 2.2% | 2.1% | -0.1% |
| Utilities | 0.77% | 0.68% | -0.09% |
| Basic Materials | 0.45% | 0.37% | -0.08% |
| Industrials | 2.44% | 2.4% | -0.04% |
| Real Estate | 0.44% | 0.42% | -0.02% |
Quarter-over-quarter weight changes by market cap
| Cap Size | Prev % | Curr % | Change |
|---|---|---|---|
| Unclassified | 75.13% | 75.42% | +0.29% |
| Mega Cap | 14.59% | 14.67% | +0.08% |
| Large Cap | 8.88% | 8.52% | -0.36% |
| Mid Cap | 0.92% | 0.93% | +0.01% |
| Small Cap | 0.41% | 0.4% | -0.01% |
| Micro Cap | 0.07% | 0.07% | 0% |
Quarter-over-quarter position changes