LPL Financial LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), LPL Financial LLC reported 5,518 stock positions worth $342.5 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 2.0% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 1.9%) and Invesco QQQ Trust Series 1 (QQQ, 1.9%). Compared with Q2 2025, it opened 375 new positions, sold out of 188, added to 3,507 and reduced 1,574. The biggest buy was Apple (AAPL, shares +6%) and the biggest sale iShares MSCI Eafe Growth ETF (EFG, shares −57%).
- Most Recent 13F
- Q2 2026
- Location
- FORT MILL, SC
- CIK
- 0001403438
- Portfolio Value
- $342.5B (Q3 2025)
- SEC Filing
- 0001403438-25-000006 ↗ filed Nov 12, 2025
Holdings Value
Holdings 5,518 stocks · $342.5B
| IVV iShares Core S&P 500 ETF | 1.97% | 10,097,239 | $6.8B | Add +8.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.93% | 9,941,748 | $6.6B | Add +3.2% |
| QQQ Invesco QQQ Trust Series 1 | 1.85% | 10,564,843 | $6.3B | Add +4.1% |
| NVDA Nvidia Corp. | 1.79% | 32,791,518 | $6.1B | Add +4.3% |
| AAPL Apple Inc. | 1.70% | 22,850,810 | $5.8B | Add +6.3% |
| MSFT Microsoft Corp. | 1.44% | 9,505,943 | $4.9B | Add +6.1% |
| VTI VG Morningstar TS MKT ETF-US | 1.32% | 13,801,841 | $4.5B | Add +2.1% |
| SPYG SS SPDR P S&P 500 Growth ETF | 1.20% | 39,178,649 | $4.1B | Add +3.5% |
| VOO Vanguard S&P 500 ETF | 1.13% | 6,342,201 | $3.9B | Add +3.7% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.11% | 48,460,325 | $3.8B | Add +8.3% |
| QUAL iShares MSCI USA Quality Fac | 1.05% | 18,522,897 | $3.6B | Reduce -4.8% |
| AMZN Amazon.com Inc. | 1.02% | 15,868,881 | $3.5B | Add +6.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.99% | 38,989,201 | $3.4B | Add +2.8% |
| IEMG iShares Core MSCI Emerging | 0.90% | 46,995,248 | $3.1B | Add +9.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.77% | 5,466,752 | $2.6B | Add +2.5% |
| GOVT iShares US Treasury Bond ETF | 0.75% | 111,201,014 | $2.6B | Add +5.2% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.75% | 46,442,555 | $2.6B | Add +2.9% |
| MBB iShares MBS ETF | 0.74% | 26,798,274 | $2.5B | Add +5.7% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.71% | 40,888,680 | $2.4B | Add +27.1% |
| QQQM Invesco Nasdaq 100 ETF | 0.70% | 9,765,868 | $2.4B | Add +11.1% |
| IVW iShares S&P 500 Growth ETF | 0.69% | 19,458,986 | $2.3B | Add +4.5% |
| IUSG iShares Core S&P U.S. Growth | 0.67% | 14,033,355 | $2.3B | Add +2.9% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.65% | 52,585,686 | $2.2B | Add +22.7% |
| XLK SS Technology Select Sector | 0.63% | 7,679,418 | $2.2B | Add +1.3% |
| META Meta Platforms Inc. Class A | 0.62% | 2,869,423 | $2.1B | Add +8.2% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.61% | 44,541,325 | $2.1B | Reduce -5.7% |
| GOOGL Alphabet Inc. Class A | 0.60% | 8,398,313 | $2.0B | Add +8.7% |
| AVGO Broadcom Inc. | 0.58% | 6,072,824 | $2.0B | Add +6.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.58% | 10,583,264 | $2.0B | Add +2.3% |
| IJR iShares Core S&P Small-Cap E | 0.57% | 16,532,634 | $2.0B | Add +1.6% |
| RDVY First Trust Rising Dividend | 0.54% | 27,596,346 | $1.9B | Add +6.6% |
| IJH iShares Core S&P Midcap ETF | 0.53% | 27,717,607 | $1.8B | Add +6.8% |
| IWM iShares Russell 2000 ETF | 0.52% | 7,367,450 | $1.8B | Add +4.5% |
| IVE iShares S&P 500 Value ETF | 0.52% | 8,546,412 | $1.8B | Add +8.0% |
| IWF iShares Russell 1000 Growth | 0.50% | 3,691,684 | $1.7B | Add +5.8% |
| VEA Vanguard Ftse Developed ETF | 0.50% | 28,451,306 | $1.7B | Add +1.3% |
| CGGR Cap Group Growth Equity | 0.49% | 38,596,360 | $1.7B | Add +28.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.48% | 3,290,702 | $1.7B | Add +3.4% |
| JPM JPMorgan Chase & Co. | 0.48% | 5,217,634 | $1.6B | Add +8.7% |
| GLD SPDR Gold Shares | 0.47% | 4,552,349 | $1.6B | Add +7.5% |
| SPIB SS SPDR P Int C Corp. ETF | 0.46% | 46,743,277 | $1.6B | Add +4.2% |
| IUSV iShares Core S&P U.S. Value | 0.46% | 15,836,920 | $1.6B | Add +4.3% |
| VIG Vanguard Dividend Apprec ETF | 0.43% | 6,878,056 | $1.5B | Add +5.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.43% | 34,051,047 | $1.5B | Add +13.5% |
| GOOG Alphabet Inc. Class C | 0.42% | 5,965,548 | $1.5B | Add +4.6% |
| OEF iShares S&P 100 ETF | 0.41% | 4,239,339 | $1.4B | Add +58.2% |
| EFV iShares MSCI Eafe Value ETF | 0.41% | 20,731,397 | $1.4B | Reduce -8.7% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.41% | 42,012,498 | $1.4B | Add +5.6% |
| TSLA Tesla Inc. | 0.41% | 3,150,336 | $1.4B | Add +2.5% |
| SPTI SS SPDR P Int Term TSY ETF | 0.40% | 47,092,606 | $1.4B | Add +6.6% |
| BND Vanguard Total Bond Market | 0.38% | 17,615,073 | $1.3B | Add +8.2% |
| XLF SS Financial Select Sector | 0.38% | 24,158,554 | $1.3B | Add +15.7% |
| DGRO iShares Core Dividend Growth | 0.36% | 18,167,636 | $1.2B | Add +3.2% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.35% | 13,241,873 | $1.2B | Add +0.8% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.35% | 25,628,182 | $1.2B | Add +9.5% |
| AGG iShares Core U.S. Aggregate | 0.34% | 11,780,943 | $1.2B | Add +12.9% |
| COWZ Pacer US Cash Cows 100 ETF | 0.34% | 20,454,714 | $1.2B | Reduce -5.2% |
| MUB iShares National Muni Bond E | 0.33% | 10,466,931 | $1.1B | Reduce -1.0% |
| DGRW Wisdomtree U.S. Quality Divi | 0.32% | 12,370,100 | $1.1B | Reduce -0.8% |
| SCHG Schwab US Large-Cap Growth | 0.30% | 31,701,940 | $1.0B | Add +13.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.29% | 3,966,099 | $1.0B | Add +1.0% |
| COST Costco Wholesale Corp. | 0.29% | 1,082,774 | $1.0B | Add +1.0% |
| V Visa Inc. Class A | 0.29% | 2,912,171 | $994.2M | Add +3.9% |
| SCHD Schwab US DVD Equity ETF | 0.29% | 36,293,348 | $990.8M | Reduce -7.5% |
| IAU iShares Gold Trust | 0.29% | 13,538,758 | $985.2M | Add +24.2% |
| NFLX Netflix Inc. | 0.29% | 814,725 | $976.8M | Add +4.8% |
| RSP Invesco S&P 500 Equal Weight | 0.28% | 5,124,536 | $972.1M | Add +1.1% |
| TLH iShares 10-20 Year Treasury | 0.28% | 9,365,574 | $964.6M | Add +32.1% |
| SPHQ Invesco S&P 500 Quality ETF | 0.28% | 13,112,909 | $961.0M | Add +15.3% |
| VGT Vanguard Info Tech ETF | 0.28% | 1,262,705 | $942.8M | Add +3.8% |
| VONV Vanguard Russell 1000 Value | 0.27% | 10,527,148 | $940.8M | Add +3.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.27% | 3,168,038 | $930.6M | Add +6.8% |
| VONG Vanguard Russell 1000 Growth | 0.27% | 7,679,450 | $925.4M | Add +5.1% |
| JNJ Johnson & Johnson | 0.27% | 4,987,768 | $924.8M | Add +10.0% |
| JPST JPMorgan Ultra-Short Income | 0.27% | 18,161,588 | $921.3M | Add +7.4% |
| PLTR Palantir Technologies Inc. Class A | 0.27% | 5,040,999 | $919.6M | Add +2.7% |
| VYM Vanguard High DVD Yield ETF | 0.27% | 6,474,990 | $912.6M | Add +5.0% |
| SDVY First Trust Smid Cap Rising | 0.26% | 23,756,369 | $903.2M | Add +0.9% |
| XLV SS Health Care Select Sector | 0.26% | 6,435,441 | $895.6M | Reduce -5.8% |
| IWB iShares Russell 1000 ETF | 0.26% | 2,447,688 | $894.6M | Add +0.0% |
| VTIP Vanguard Short-Term Tips | 0.26% | 17,450,758 | $883.5M | Add +5.1% |
| VWO Vanguard Ftse Emerging Marke | 0.26% | 16,250,043 | $880.4M | Add +1.5% |
| ITOT iShares Core S&P Total U.S. | 0.26% | 6,019,015 | $876.7M | Add +10.1% |
| HD Home Depot Inc. | 0.25% | 2,150,901 | $871.5M | Add +9.7% |
| VCIT Vanguard Int-Term Corporate | 0.25% | 10,290,905 | $865.6M | Add +6.1% |
| ABBV Abbvie Inc. | 0.25% | 3,733,393 | $864.4M | Add +8.8% |
| LLY Eli Lilly & Co. | 0.25% | 1,121,217 | $855.5M | Add +3.8% |
| IWD iShares Russell 1000 Value E | 0.25% | 4,201,794 | $855.4M | Add +0.9% |
| WMT Walmart Inc. | 0.25% | 8,164,546 | $841.4M | Add +5.3% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.24% | 14,293,858 | $822.2M | Add +9.0% |
| FVD First Trust Value Line DVD | 0.24% | 17,697,942 | $818.4M | Add +0.0% |
| SGOV iShares 0-3 Month Treasury B | 0.23% | 7,899,551 | $795.5M | Add +9.7% |
| CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET | 0.23% | 19,909,178 | $787.2M | Add +23.0% |
| SMH Vaneck Semiconductor ETF | 0.23% | 2,404,115 | $784.6M | Add +16.2% |
| SPMO Invesco S&P 500 Momentum ETF | 0.23% | 6,442,003 | $779.9M | Add +20.6% |
| XOM Exxon Mobil Corp. | 0.23% | 6,906,457 | $778.7M | Add +9.7% |
| FTCS First Trust Capital Strength | 0.22% | 8,077,533 | $756.4M | Reduce -0.8% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.22% | 14,072,310 | $749.2M | Add +31.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.22% | 1,610,809 | $747.0M | Add +1.3% |
| XLI SS Industrial Select Sector | 0.22% | 4,814,626 | $742.6M | Add +13.1% |
Options reported separately and not counted above: IWM calls ($90.1M), SPY puts ($83.1M), QQQ puts ($58.9M), XLK puts ($45.2M), AAPL puts ($15.0M), SPY calls ($9.5M), META puts ($8.0M), MSFT puts ($7.7M), NVDA calls ($7.4M), COST puts ($6.9M), AMZN calls ($6.7M), LNC puts ($6.1M), and 202 more.
Other holdings (61): bonds, preferreds, convertibles and warrants · $49.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 248,912 | $22.8M | Add +17.6% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 7,294 | $9.3M | Reduce -12.0% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 7,289 | $9.0M | Add +6.3% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 101,491 | $2.6M | Add +22.6% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 13,210 | $919K | Add +69.0% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 11,060 | $552K | No change |
| USA RARE EARTH INC | *W EXP 03/13/203 | 71,500 | $516K | Add +596.2% |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 19,897 | $507K | Add +3.4% |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 15,051 | $475K | Reduce -32.6% |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 7,952 | $469K | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 8,451 | $442K | Add +20.7% |
| OXBRW Oxbridge Re Holdings-CW24 | *W EXP 03/26/202 | 713,852 | $286K | No change |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 5,455 | $217K | No change |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 89,000 | $100K | Add +270.8% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 76,000 | $98K | Add +280.0% |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | 22,865 | $97K | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 89,000 | $95K | Add +270.8% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 95,000 | $90K | Add +280.0% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 63,000 | $71K | Add +173.9% |
| HUMAW Humacyte Inc.-CW27 | *W EXP 08/27/202 | 259,115 | $69K | No change |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 16,895 | $63K | Reduce -7.1% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 60,000 | $56K | No change |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 55,000 | $55K | Add +89.7% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 53,000 | $48K | Add +103.8% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 44,000 | $48K | Add +158.8% |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | 560,027 | $44K | Reduce -11.1% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 42,000 | $43K | New |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 39,000 | $43K | Add +290.0% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 29,000 | $42K | New |
| CRMLW Critical Metals Corp.-28 | *W EXP 02/27/202 | 20,000 | $42K | No change |
| 8X8 INC (EGHT 4 02/01/28) | NOTE 4.000% 2/0 · principal | 45,000 | $39K | No change |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 33,000 | $37K | No change |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 29,000 | $36K | New |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 24,000 | $27K | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 27,000 | $27K | Add +50.0% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 30,000 | $27K | No change |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 29,000 | $26K | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 25,000 | $24K | Add +92.3% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 22,000 | $23K | No change |
| BLACKROCK INCOME TR-RT | RIGHT 10/20/2025 | 388,625 | $23K | Add +107.9% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 22,000 | $20K | New |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 17,000 | $16K | No change |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 15,000 | $15K | New |
| CRESW Cresud Saci-CW26 | *W EXP 03/09/202 | 22,000 | $15K | New |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 14,000 | $12K | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 13,000 | $12K | Reduce -23.5% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 13,000 | $12K | New |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 10,000 | $10K | No change |
| DISH NETWORK CORP (DISH 3.375 08/15/26) | NOTE 3.375% 8/1 · principal | 10,000 | $10K | No change |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 10,000 | $10K | No change |
| NEOGENOMICS INC (NEO 0.25 01/15/28) | NOTE 0.250% 1/1 · principal | 11,000 | $9K | Reduce -47.6% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A · principal | 23,628 | $9K | Add +5.0% |
| RIVERNORTH OPPORTUNI-RT | RIGHT 10/06/2025 | 494,836 | $4K | Add +10.7% |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 12,600 | $2K | No change |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 23,000 | $2K | No change |
| PBMWW Psyence Biomedical Ltd. | *W EXP 01/22/202 | 29,345 | $739 | No change |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | 35,055 | $666 | Reduce -26.3% |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | 15,762 | $589 | Add +31.3% |
| NVVEW Nuvve Holding Corp.-CW26 | *W EXP 03/19/202 | 10,000 | $177 | No change |
| OUSTW Ouster Inc.-28 | *W EXP 09/29/202 | 20,605 | $37 | Add +42.0% |
| MSPRW MSP Recovery Inc. -27 | *W EXP 05/20/202 | 14,098 | $25 | No change |
Total filed on the 13F, all lines: $342.6B.
Portfolio Sells Q2 2025 → Q3 2025
| EFG iShares MSCI Eafe Growth ETF | Reduce -56.6% | 0.09% | −0.14 |
| QUAL iShares MSCI USA Quality Fac | Reduce -4.8% | 1.05% | −0.14 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -5.7% | 0.61% | −0.12 |
| IYW iShares Ustechnology ETF | Reduce -33.5% | 0.21% | −0.11 |
| EFV iShares MSCI Eafe Value ETF | Reduce -8.7% | 0.41% | −0.07 |
| SCHD Schwab US DVD Equity ETF | Reduce -7.5% | 0.29% | −0.06 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -5.2% | 0.34% | −0.05 |
| USFR Wisdomtree Floating Rate Tre | Reduce -8.4% | 0.21% | −0.05 |
| XLV SS Health Care Select Sector | Reduce -5.8% | 0.26% | −0.05 |
| MUB iShares National Muni Bond E | Reduce -1.0% | 0.33% | −0.04 |
| ISRG Intuitive Surgical Inc. | Reduce -10.6% | 0.06% | −0.03 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -3.0% | 0.16% | −0.03 |
| ACN Accenture PLC Class A | Reduce -16.2% | 0.04% | −0.03 |
| DGRW Wisdomtree U.S. Quality Divi | Reduce -0.8% | 0.32% | −0.03 |
| MSTR Strategy Inc. | Reduce -1.2% | 0.06% | −0.03 |
| SPGP Invesco S&P 500 Garp ETF | Reduce -28.3% | 0.05% | −0.03 |
| HEFA Isha Curr Hedged MSCI Eafe | Reduce -34.0% | 0.04% | −0.03 |
| TBIL F/M US Treasury 3 Month Bill | Reduce -4.1% | 0.14% | −0.03 |
| FTCS First Trust Capital Strength | Reduce -0.8% | 0.22% | −0.03 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -14.9% | 0.08% | −0.03 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -0.9% | 0.17% | −0.02 |
| BLV Vanguard Long-Term Bond ETF | Reduce -18.7% | 0.06% | −0.02 |
| XLC SS Comm Select Sector SPDR | Reduce -5.4% | 0.21% | −0.02 |
| FISR SS Fi Sector Rotation | Reduce -53.0% | 0.01% | −0.02 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -2.4% | 0.19% | −0.02 |
| XLP SS Consumer Staples Sel Sect | Reduce -2.7% | 0.09% | −0.02 |
| XLE SS Energy Select Sector | Reduce -2.9% | 0.17% | −0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -2.1% | 0.09% | −0.02 |
| BUFF Innovator Laddered Allocatio | Reduce -38.3% | 0.02% | −0.02 |
| IGV iShares Expanded Tech-Softwa | Reduce -16.8% | 0.06% | −0.02 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -26.6% | 0.04% | −0.02 |
| IHDG Wisdomtree International Hed | Reduce -13.4% | 0.06% | −0.02 |
| FISV Fiserv Inc. | Reduce -11.3% | 0.02% | −0.02 |
| IHI iShares U.S. Medical Devices | Reduce -27.2% | 0.03% | −0.02 |
| UPS United Parcel Service Class B | Reduce -0.9% | 0.04% | −0.02 |
| BBIN JPM Betabuilders Intl Eqty | Reduce -68.8% | 0.01% | −0.01 |
| UCON First Trust Smith Unconstrai | Reduce -4.2% | 0.08% | −0.01 |
| SPGM State Street SPDR Portfolio | Reduce -17.9% | 0.05% | −0.01 |
| NOBL Proshares S&P 500 Dividend A | Reduce -1.8% | 0.10% | −0.01 |
| BUFQ FT VST Lad NSDQ Buf ETF-Usdi | Reduce -6.2% | 0.08% | −0.01 |
| JGLO JPMorgan GLBL SLCT Eq ETF | Reduce -25.0% | 0.03% | −0.01 |
| BEN Franklin Templeton Inc. | Reduce -74.6% | 0.00% | −0.01 |
| SPLB SS SPDR P Long Term C ETF | Reduce -40.4% | 0.01% | −0.01 |
| SCHO Schwab Short-Term US Treas | Reduce -24.8% | 0.02% | −0.01 |
| ON On Semiconductor | Reduce -73.7% | 0.00% | −0.01 |
| GSUS Goldman Sachs Marketbeta US | Reduce -1.6% | 0.15% | −0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -5.8% | 0.02% | −0.01 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.8% | 0.02% | −0.01 |
| FLOT iShares Floating Rate Bond E | Reduce -0.7% | 0.07% | −0.01 |
| FEZ State Street SPDR Euro Stoxx | Reduce -28.5% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +6.3% | 1.70% | +0.23 |
| GOOGL Alphabet Inc. Class A | Add +8.7% | 0.60% | +0.14 |
| OEF iShares S&P 100 ETF | Add +58.2% | 0.41% | +0.14 |
| NVDA Nvidia Corp. | Add +4.3% | 1.79% | +0.13 |
| BAI Ishrs AI in and Tech Act ETF | Add +161.7% | 0.20% | +0.13 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +27.1% | 0.71% | +0.12 |
| BDYN iShares DYN Act ETF | New | 0.11% | +0.11 |
| CGGR Cap Group Growth Equity | Add +28.5% | 0.49% | +0.09 |
| GOOG Alphabet Inc. Class C | Add +4.6% | 0.42% | +0.09 |
| TSLA Tesla Inc. | Add +2.5% | 0.41% | +0.08 |
| CGDV Cap Group Dividend Value | Add +22.7% | 0.65% | +0.08 |
| ITA iShares U.S. Aerospace & Def | Add +89.6% | 0.17% | +0.08 |
| BDVL iShares DV Equity Active ETF | New | 0.07% | +0.07 |
| IAU iShares Gold Trust | Add +24.2% | 0.29% | +0.06 |
| AVGO Broadcom Inc. | Add +6.0% | 0.58% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | Add +2.7% | 0.27% | +0.04 |
| IEMG iShares Core MSCI Emerging | Add +9.6% | 0.90% | +0.04 |
| GLD SPDR Gold Shares | Add +7.5% | 0.47% | +0.04 |
| IVV iShares Core S&P 500 ETF | Add +8.4% | 1.97% | +0.04 |
| TLH iShares 10-20 Year Treasury | Add +32.1% | 0.28% | +0.04 |
| ABBV Abbvie Inc. | Add +8.8% | 0.25% | +0.04 |
| JNJ Johnson & Johnson | Add +10.0% | 0.27% | +0.04 |
| QQQM Invesco Nasdaq 100 ETF | Add +11.1% | 0.70% | +0.04 |
| SMH Vaneck Semiconductor ETF | Add +16.2% | 0.23% | +0.04 |
| CGUS Cap Group Core Equity | Add +23.0% | 0.23% | +0.03 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +31.2% | 0.22% | +0.03 |
| ORCL Oracle Corp. | Add +5.4% | 0.19% | +0.03 |
| RECS Columbia Resear Enh Cor ETF | Add +26.8% | 0.16% | +0.03 |
| JIRE JPMorgan Int Res Enh Eqty | Add +42.2% | 0.12% | +0.03 |
| APP AppLovin Corp. Class A | Add +9.7% | 0.06% | +0.03 |
| SPMO Invesco S&P 500 Momentum ETF | Add +20.6% | 0.23% | +0.03 |
| TSM Taiwan Semiconductor-SP ADR | Add +12.9% | 0.15% | +0.03 |
| NLR Vaneck Urani & Nuclr ETF-Usd | Add +63.3% | 0.06% | +0.03 |
| IDMO Invesco S&P International DE | Add +85.9% | 0.06% | +0.03 |
| FDVV Fidelity High Dividend ETF | Add +63.3% | 0.07% | +0.03 |
| SHLD Global X Defense Tech ETF | Add +59.9% | 0.07% | +0.03 |
| EVMO Eaton Vance Mortgage Opp ETF | New | 0.02% | +0.02 |
| CGCB Cap Group Core Bond | Add +38.8% | 0.13% | +0.02 |
| GDX Vaneck Gold Miners ETF | Add +11.8% | 0.08% | +0.02 |
| SLV iShares Silver Trust | Add +13.2% | 0.11% | +0.02 |
| SCHG Schwab US Large-Cap Growth | Add +13.8% | 0.30% | +0.02 |
| AIRR First Trust Rba American Ind | Add +20.6% | 0.12% | +0.02 |
| SPEM State Street SP PTF Em ETF | Add +18.7% | 0.19% | +0.02 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +8.3% | 1.11% | +0.02 |
| OCTW Alianzim US Eq BFR20 Oct-Usd | Add +3678.8% | 0.02% | +0.02 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +13.5% | 0.43% | +0.02 |
| THRO iShares U.S. Thematic Rotati | Add +18.7% | 0.20% | +0.02 |
| CGXU Cap Group Intl Focus | Add +27.5% | 0.10% | +0.02 |
| LIT Global X Lithium & Battery T | Add +370.0% | 0.02% | +0.02 |
| FENI Fidelity Enhanced Intl ETF | Add +153.5% | 0.03% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| IWM iShares Russell 2000 ETF | call | New | 372,300 | $90.1M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -4.4% | 124,700 | $83.1M |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -50.6% | 98,100 | $58.9M |
| XLK SS Technology Select Sector | put | Add +1385.2% | 160,400 | $45.2M |
| AAPL Apple Inc. | put | Add +25.6% | 58,900 | $15.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +0.7% | 14,300 | $9.5M |
| META Meta Platforms Inc. Class A | put | Add +84.8% | 10,900 | $8.0M |
| MSFT Microsoft Corp. | put | Add +22.3% | 14,800 | $7.7M |
| NVDA Nvidia Corp. | call | Add +9.4% | 39,400 | $7.4M |
| COST Costco Wholesale Corp. | put | Add +1150.0% | 7,500 | $6.9M |
| AMZN Amazon.com Inc. | call | Add +1116.0% | 30,400 | $6.7M |
| LNC Lincoln National Corp. | put | Add +177.2% | 150,800 | $6.1M |
| NVDA Nvidia Corp. | put | Reduce -11.1% | 28,000 | $5.2M |
| ACN Accenture PLC Class A | put | Sold out | 15,400 | $4.6Mbefore exit |
| C Citigroup Inc. | put | Reduce -50.8% | 40,400 | $4.1M |
| IWM iShares Russell 2000 ETF | put | Add +151.6% | 16,100 | $3.9M |
| AMZN Amazon.com Inc. | put | Reduce -11.5% | 17,700 | $3.9M |
| SPOT Spotify Technology SA | put | New | 5,500 | $3.8M |
| UNH Unitedhealth Group Inc. | put | Add +414.3% | 10,800 | $3.7M |
| CRWD CrowdStrike Holdings Inc. Class A | put | New | 7,500 | $3.7M |
| CVS CVS Health Corp. | put | Add +64.4% | 48,500 | $3.7M |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -19.2% | 5,900 | $3.5M |
| NOW ServiceNow Inc. | put | Add +483.3% | 3,500 | $3.2M |
| XYZ Block Inc. | call | New | 41,300 | $3.0M |
| USB US Bancorp | put | Reduce -3.0% | 57,700 | $2.8M |
| COST Costco Wholesale Corp. | call | New | 3,000 | $2.8M |
| PLTR Palantir Technologies Inc. Class A | call | Add +15.6% | 14,800 | $2.7M |
| BRK.B Berkshire Hathaway Inc. Class B | put | Add +2.0% | 5,200 | $2.6M |
| UNH Unitedhealth Group Inc. | call | Add +971.4% | 7,500 | $2.6M |
| FITB Fifth Third Bancorp | put | Add +494.4% | 52,900 | $2.4M |
| XLI SS Industrial Select Sector | put | New | 14,700 | $2.3M |
| GOOG Alphabet Inc. Class C | put | Add +121.4% | 9,300 | $2.3M |
| CRM Salesforce Inc. | put | Add +132.5% | 9,300 | $2.2M |
| GOOGL Alphabet Inc. Class A | put | Add +1.1% | 9,000 | $2.2M |
| ASML ASML Holding NV-NY Reg SHS | put | Add +600.0% | 2,100 | $2.0M |
| IBM Intl Business Machines Corp. | put | Add +111.8% | 7,200 | $2.0M |
| BAC Bank of America Corp. | put | Reduce -7.6% | 37,900 | $2.0M |
| CSX CSX Corp. | call | New | 55,000 | $2.0M |
| PSX Phillips 66 | put | Sold out | 15,000 | $1.8Mbefore exit |
| QQQM Invesco Nasdaq 100 ETF | put | Add +105.7% | 7,200 | $1.8M |
| TSLA Tesla Inc. | call | Add +60.0% | 4,000 | $1.8M |
| SPOT Spotify Technology SA | call | New | 2,500 | $1.7M |
| BE Bloom Energy Corp. Class A | put | New | 20,000 | $1.7M |
| TFC Truist Financial Corp. | put | Reduce -67.2% | 36,500 | $1.7M |
| CRM Salesforce Inc. | call | Add +139.3% | 6,700 | $1.6M |
| TSLA Tesla Inc. | put | Add +10.7% | 3,100 | $1.4M |
| BABA Alibaba Group Holding-SP ADR | put | Reduce -20.0% | 7,600 | $1.4M |
| AAPL Apple Inc. | call | Reduce -19.7% | 5,300 | $1.3M |
| HBAN Huntington Bancshares Inc. | put | New | 78,000 | $1.3M |
| JKHY Jack Henry & Associates Inc. | call | New | 8,800 | $1.3M |
Showing the first 50 of 243.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | Add +17.6% | 248,912 | $22.8M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -12.0% | 7,294 | $9.3M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +6.3% | 7,289 | $9.0M |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +22.6% | 101,491 | $2.6M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +69.0% | 13,210 | $919K |
| USA RARE EARTH INC | *W EXP 03/13/203 | Add +596.2% | 71,500 | $516K |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | Sold out | 28,900 | $507Kbefore exit |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Add +3.4% | 19,897 | $507K |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | Reduce -32.6% | 15,051 | $475K |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | New | 7,952 | $469K |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Add +20.7% | 8,451 | $442K |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +270.8% | 89,000 | $100K |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Add +280.0% | 76,000 | $98K |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +270.8% | 89,000 | $95K |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | Add +280.0% | 95,000 | $90K |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Add +173.9% | 63,000 | $71K |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | Reduce -7.1% | 16,895 | $63K |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Add +89.7% | 55,000 | $55K |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +103.8% | 53,000 | $48K |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +158.8% | 44,000 | $48K |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | Reduce -11.1% | 560,027 | $44K |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 42,000 | $43K |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Add +290.0% | 39,000 | $43K |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 29,000 | $42K |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | New | 29,000 | $36K |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | New | 24,000 | $27K |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Add +50.0% | 27,000 | $27K |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Add +92.3% | 25,000 | $24K |
| BLACKROCK INCOME TR-RT | RIGHT 10/20/2025 | Add +107.9% | 388,625 | $23K |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | New | 22,000 | $20K |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | Sold out | 16,000 | $18Kbefore exit |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | Sold out | 12,000 | $17Kbefore exit |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | New | 15,000 | $15K |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | Sold out | 15,000 | $15Kbefore exit |
| CRESW Cresud Saci-CW26 | *W EXP 03/09/202 | New | 22,000 | $15K |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Sold out | 14,000 | $13Kbefore exit |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Reduce -23.5% | 13,000 | $12K |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | New | 13,000 | $12K |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Sold out | 10,000 | $9Kbefore exit |
| NEOGENOMICS INC (NEO 0.25 01/15/28) | NOTE 0.250% 1/1 · principal | Reduce -47.6% | 11,000 | $9K |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A · principal | Add +5.0% | 23,628 | $9K |
| RIVERNORTH OPPORTUNI-RT | RIGHT 10/06/2025 | Add +10.7% | 494,836 | $4K |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Sold out | 16,000 | $4Kbefore exit |
| LMP CAPITAL AND INCOME FUND | RIGHT 07/11/2025 | Sold out | 29,220 | $2Kbefore exit |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | Reduce -26.3% | 35,055 | $666 |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | Add +31.3% | 15,762 | $589 |
| OUSTW Ouster Inc.-28 | *W EXP 09/29/202 | Add +42.0% | 20,605 | $37 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 5,932 | $444.6B | IVV, QQQ, SPY, AAPL, NVDA |
| Q1 2026 | 5,727 | $376.1B | IVV, SPY, QQQ, AAPL, NVDA |
| Q4 2025 | 5,611 | $365.7B | IVV, SPY, QQQ, AAPL, NVDA |
| Q3 2025 | 5,518 | $342.5B | IVV, SPY, QQQ, NVDA, AAPL |
| Q2 2025 | 5,332 | $299.4B | SPY, IVV, QQQ, NVDA, MSFT |
| Q1 2025 | 5,150 | $256.9B | IVV, SPY, AAPL, QQQ, VTI |
| Q4 2024 | 5,094 | $245.7B | IVV, SPY, AAPL, QQQ, VTI |
| Q3 2024 | 5,019 | $224.0B | IVV, SPY, QQQ, AAPL, VTI |
| Q2 2024 | 4,877 | $200.5B | IVV, SPY, QQQ, AAPL, VTI |
| Q1 2024 | 4,805 | $186.0B | IVV, SPY, QQQ, VTI, AAPL |