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Institutional Investment Manager
Kovack Advisors, Inc.
Kovack Advisors, Inc. (CIK: 0001728321) incorporated in Florida, located at 6451 N. Federal Hwy., Ft. Lauderdale, FL. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 287 holdings with a total value of $205,414,000.
#
Name
Shares
Value ($)
%
Options
Notes
251 SPDR GOLD TR 10,052 1,263,000 0.61%
252 SELECT SECTOR SPDR TR 16,185 1,295,000 0.63%
253 EXXON MOBIL CORP 15,630 1,364,000 0.66%
254 VANGUARD BD INDEX FDS 17,030 1,377,000 0.67%
255 ISHARES TR 11,553 1,409,000 0.69%
256 SELECT SECTOR SPDR TR 19,570 1,411,000 0.69%
257 ALPHABET INC 1,791 1,440,000 0.70%
258 MICROSOFT CORP 25,223 1,453,000 0.71%
259 ETF SER SOLUTIONS VIDENTCORE EQ FD 54,509 1,460,000 0.71%
260 STARBUCKS CORP 27,875 1,509,000 0.73%
261 VANGUARD INDEX FDS 14,330 1,609,000 0.78%
262 WAL-MART STORES INC 22,483 1,621,000 0.79%
263 ISHARES TR 18,291 1,646,000 0.80%
264 CHEVRON CORP NEW 17,429 1,794,000 0.87%
265 VERIZON COMMUNICATIONS INC 34,718 1,805,000 0.88%
266 ETF SER SOLUTIONS VIDENT CORE US 36,016 1,870,000 0.91%
267 AT&T INC 49,242 2,000,000 0.97%
268 VANGUARD INDEX FDS 18,829 2,096,000 1.02%
269 GENERAL ELECTRIC CO 71,168 2,108,000 1.03%
270 DIREXION SHS ETF TR 121,960 2,126,000 1.03%
271 DISNEY WALT CO 23,502 2,182,000 1.06%
272 JOHNSON & JOHNSON 20,351 2,404,000 1.17%
273 PROCTER AND GAMBLE CO 26,862 2,411,000 1.17%
274 FACEBOOK INC 19,441 2,494,000 1.21%
275 ETF SER SOLUTIONS VIDENT INTL EQ 116,892 2,568,000 1.25%
276 VANGUARD SPECIALIZED FUNDS 30,933 2,596,000 1.26%
277 NUVEEN PREFERRED SECURITIES 278,422 2,670,000 1.30%
278 BARCLAYS BK PLC 75,113 2,840,000 1.38%
279 ISHARES TR 70,611 3,208,000 1.56%
280 ISHARES TR 39,273 4,153,000 2.02%
281 ISHARES TR 38,944 4,378,000 2.13%
282 VANGUARD SCOTTSDALE FDS 55,991 4,510,000 2.20%
283 FIRST TR VALUE LINE DIVID INSHS 171,576 4,633,000 2.26%
284 GUGGENHEIM 1:1 EXC 4/9/18 739371839 63,456 7,766,000 3.78%
285 SPDR S&P 500 ETF TR 42,570 9,208,000 4.48%
286 APPLE INC 96,573 10,918,000 5.32%
287 POWERSHARES ETF TR II 298,177 11,602,000 5.65%
Page 6 of 6

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001398344-18-013862, filed 2018.09.25).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.