# LADENBURG THALMANN FINANCIAL SERVICES INC.

> Institutional holdings reported to the SEC as of Q4 2019 on Form 13F. CIK 1029730. Source: https://holderbook.com/funds/1029730-ladenburg-thalmann-financial-services-inc/

- Reported value: $15.9B
- Positions: 5,303
- Weight of the ten largest: 14.1%
- Filed: 2020-02-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $456.8M | 1,697,018 | 2.9% | 5 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $307.6M | 1,090,562 | 1.9% | 5 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $212.4M | 4,828,283 | 1.3% | 5 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $211.7M | 1,106,494 | 1.3% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $197.4M | 1,288,388 | 1.2% | 5 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $186.2M | 841,819 | 1.2% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $173.2M | 420,059 | 1.1% | 5 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $171.1M | 827,507 | 1.1% | 5 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $162.2M | 1,725,688 | 1.0% | 5 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $159.8M | 579,901 | 1.0% | 5 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $156.3M | 2,385,047 | 1.0% | 5 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $149.7M | 934,566 | 0.9% | 5 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $134.3M | 695,873 | 0.8% | 5 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $134.2M | 1,602,003 | 0.8% | 5 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $127.2M | 3,644,860 | 0.8% | 5 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $118.8M | 918,212 | 0.7% | 5 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $114.3M | 1,899,160 | 0.7% | 5 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $112.9M | 2,900,729 | 0.7% | 5 |
| SSGA ACTIVE ETF TR | [TOTL](https://holderbook.com/stocks/TOTL/) | $111.2M | 2,268,291 | 0.7% | 5 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $111.0M | 2,149,814 | 0.7% | 5 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $109.5M | 614,791 | 0.7% | 5 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $107.3M | 2,425,231 | 0.7% | 5 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $107.2M | 905,155 | 0.7% | 5 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $107.2M | 4,124,734 | 0.7% | 5 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $106.2M | 1,971,753 | 0.7% | 5 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $104.9M | 1,304,325 | 0.7% | 5 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $104.1M | 1,431,462 | 0.7% | 5 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $102.0M | 596,558 | 0.6% | 5 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $96.4M | 966,518 | 0.6% | 5 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $91.2M | 798,517 | 0.6% | 5 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $88.6M | 1,154,500 | 0.6% | 5 |
| PIMCO ETF TR | [LDUR](https://holderbook.com/stocks/LDUR/) | $81.8M | 819,794 | 0.5% | 5 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $81.3M | 816,057 | 0.5% | 5 |
| ISHARES TR | [ISTB](https://holderbook.com/stocks/ISTB/) | $79.3M | 1,574,289 | 0.5% | 5 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $79.2M | 561,322 | 0.5% | 5 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $76.6M | 949,482 | 0.5% | 5 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $76.3M | 563,629 | 0.5% | 5 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $75.5M | 615,930 | 0.5% | 5 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $72.1M | 525,251 | 0.5% | 5 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $72.0M | 1,184,843 | 0.5% | 5 |
| ISHARES TR | [IWP](https://holderbook.com/stocks/IWP/) | $71.7M | 477,338 | 0.5% | 5 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $71.0M | 425,030 | 0.4% | 5 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $70.4M | 248,848 | 0.4% | 5 |
| INVESCO EXCH TRADED FD TR II | [SPLV](https://holderbook.com/stocks/SPLV/) | $68.9M | 1,181,466 | 0.4% | 5 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $66.2M | 557,751 | 0.4% | 5 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $65.2M | 380,363 | 0.4% | 5 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $64.9M | 1,148,956 | 0.4% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $64.3M | 503,775 | 0.4% | 5 |
| FIDELITY MERRIMACK STR TR | [FBND](https://holderbook.com/stocks/FBND/) | $64.1M | 1,239,992 | 0.4% | 5 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $63.8M | 237,267 | 0.4% | 5 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $62.9M | 266,492 | 0.4% | 5 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $62.7M | 760,175 | 0.4% | 5 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $60.7M | 321,760 | 0.4% | 5 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $59.3M | 680,368 | 0.4% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $57.4M | 829,635 | 0.4% | 5 |
| SPDR SERIES TRUST | [JNK](https://holderbook.com/stocks/JNK/) | $57.0M | 520,714 | 0.4% | 3 |
| ISHARES INC | [ACWV](https://holderbook.com/stocks/ACWV/) | $55.0M | 574,370 | 0.3% | 5 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $55.0M | 362,218 | 0.3% | 5 |
| VANGUARD BD INDEX FDS | [BIV](https://holderbook.com/stocks/BIV/) | $54.7M | 628,804 | 0.3% | 5 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $54.6M | 612,639 | 0.3% | 5 |
| ISHARES TR | [EFAV](https://holderbook.com/stocks/EFAV/) | $54.5M | 735,380 | 0.3% | 5 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $52.9M | 576,366 | 0.3% | 5 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $52.5M | 1,245,358 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $52.2M | 417,350 | 0.3% | 5 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $51.2M | 452,331 | 0.3% | 5 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $49.2M | 456,067 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $48.6M | 327,579 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $48.4M | 313,365 | 0.3% | 5 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $47.8M | 802,984 | 0.3% | 5 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $46.0M | 795,071 | 0.3% | 5 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $45.7M | 957,039 | 0.3% | 5 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $45.1M | 411,055 | 0.3% | 5 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $45.1M | 224,136 | 0.3% | 5 |
| FIRST TR EXCHANGE-TRADED FD | [FVD](https://holderbook.com/stocks/FVD/) | $44.5M | 1,256,738 | 0.3% | 5 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $44.0M | 333,763 | 0.3% | 5 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $43.5M | 1,043,398 | 0.3% | 5 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $42.8M | 133,136 | 0.3% | 5 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $42.6M | 472,230 | 0.3% | 5 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $41.9M | 76,428 | 0.3% | 5 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $41.9M | 535,277 | 0.3% | 5 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $41.3M | 386,137 | 0.3% | 5 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $40.7M | 738,527 | 0.3% | 5 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $40.4M | 232,802 | 0.3% | 5 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $40.3M | 171,898 | 0.3% | 5 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $40.1M | 205,083 | 0.3% | 5 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $40.1M | 226,567 | 0.3% | 5 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $39.9M | 358,159 | 0.3% | 5 |
| INVESCO ACTIVELY MANAGED EXC | [GSY](https://holderbook.com/stocks/GSY/) | $39.9M | 791,918 | 0.3% | 5 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $39.9M | 353,727 | 0.3% | 5 |
| J P MORGAN EXCHANGE TRADED F | [JPIN](https://holderbook.com/stocks/JPIN/) | $39.6M | 693,234 | 0.2% | 5 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $39.2M | 1,114,318 | 0.2% | 5 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $39.2M | 332,946 | 0.2% | 5 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $39.0M | 700,352 | 0.2% | 5 |
| SPDR SERIES TRUST | [LGLV](https://holderbook.com/stocks/LGLV/) | $38.8M | 368,331 | 0.2% | 5 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $38.6M | 441,370 | 0.2% | 5 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $38.2M | 203,731 | 0.2% | 5 |
| ISHARES TR | [IWS](https://holderbook.com/stocks/IWS/) | $38.2M | 416,422 | 0.2% | 5 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $38.1M | 655,830 | 0.2% | 5 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $37.6M | 326,681 | 0.2% | 5 |
| VANGUARD SCOTTSDALE FDS | [VMBS](https://holderbook.com/stocks/VMBS/) | $36.9M | 704,082 | 0.2% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2019 | +6.2% | +8.5% | -2.2% | 101% |
| Q3 2019 | +0.9% | +1.3% | -0.4% | 100% |
| Q2 2019 | +2.7% | +3.7% | -1.0% | 100% |
| Q1 2019 | +11.2% | +13.0% | -1.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2019 | $15.9B | 5,303 |
| Q3 2019 | $14.5B | 5,250 |
| Q2 2019 | $13.8B | 5,248 |
| Q1 2019 | $13.1B | 5,192 |
| Q4 2018 | $11.1B | 5,184 |