LPL Financial Portfolio holdings
LPL Financial, founded in 1989 through the merger of Linsco and Private Ledger and headquartered in San Diego, California, is the largest independent broker-dealer in the U.S., supporting over 22,000 financial advisors who manage more than $1.4 trillion in advisory and brokerage assets as of late 2024. Serving independent advisors, banks, and credit unions, LPL provides a robust technology platform, research, and back-office support, enabling advisors to offer personalized wealth management, retirement planning, and investment services to clients without proprietary products. The firm, publicly traded since 2010 under CEO Dan Arnold, has grown through acquisitions like Waddell & Reed’s wealth management business in 2021, emphasizing flexibility and advisor autonomy. With additional offices in Fort Mill, South Carolina, and Boston, LPL Financial remains a leader in empowering advisors amid a shifting financial landscape.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares S&P 500 Value ETF
IVE
|
+$517M |
| 2 |
Capital Group Dividend Value ETF
CGDV
|
+$468M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$367M |
| 4 |
Capital Group Growth ETF
CGGR
|
+$301M |
| 5 |
Vanguard S&P 500 ETF
VOO
|
+$293M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$461M |
| 2 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$130M |
| 3 |
BSCP
Invesco BulletShares 2025 Corporate Bond ETF
BSCP
|
+$119M |
| 4 |
Schwab US Dividend Equity ETF
SCHD
|
+$113M |
| 5 |
Pacer US Cash Cows 100 ETF
COWZ
|
+$103M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 8.6% |
| 2 | Financials | 3.6% |
| 3 | Consumer Discretionary | 2.68% |
| 4 | Communication Services | 2.56% |
| 5 | Healthcare | 2.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
Abbott
ABT
$187B
| $272M | 0.07% |
2,168,901
+193,240
| +10% | +$24.6M |
|
252
Invesco Aerospace & Defense ETF
PPA
$8.7B
| $271M | 0.07% |
1,729,063
+60,321
| +4% | +$9.3M |
|
253
FT Vest Fund of Nasdaq-100 Buffer ETFs
BUFQ
$1.55B
| $270M | 0.07% |
7,544,084
-306,706
| -4% | -$10.8M |
|
254
PIMCO Active Bond Exchange-Traded Fund
BOND
$8.47B
| $270M | 0.07% |
2,895,952
+587,532
| +25% | +$55M |
|
255
Walt Disney
DIS
$181B
| $269M | 0.07% |
2,366,637
-10,667
| -0.4% | -$1.17M |
|
256
Avantis International Equity ETF
AVDE
$18.7B
| $269M | 0.07% |
3,266,571
+961,586
| +42% | +$77.1M |
|
|
DFUS
257
Dimensional US Equity ETF
DFUS
$21.6B
| $267M | 0.07% |
3,601,852
+48,277
| +1% | +$3.55M |
|
258
Dimensional World ex US Core Equity 2 ETF
DFAX
$12.4B
| $264M | 0.07% |
8,067,009
-20,202
| -0.2% | -$644K |
|
259
Wells Fargo
WFC
$264B
| $264M | 0.07% |
2,829,480
+89,408
| +3% | +$7.76M |
|
260
First Trust Core Investment Grade ETF
FTCB
$2.56B
| $264M | 0.07% |
12,413,458
+3,649,333
| +42% | +$78M |
|
261
FT Vest Rising Dividend Achievers Target Income ETF
RDVI
$3.66B
| $263M | 0.07% |
10,035,654
+762,029
| +8% | +$19.7M |
|
262
Southern Company
SO
$107B
| $263M | 0.07% |
3,015,130
+151,121
| +5% | +$13.8M |
|
263
First Trust Dorsey Wright Focus 5 ETF
FV
$3.77B
| $261M | 0.07% |
4,155,628
-311,143
| -7% | -$19.3M |
|
264
Invesco Ultra Short Duration ETF
GSY
$3.9B
| $261M | 0.07% |
5,192,345
-28,257
| -0.5% | -$1.42M |
|
|
GRID
265
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
GRID
$12.1B
| $260M | 0.07% |
1,699,802
+503,963
| +42% | +$77.3M |
|
266
Vanguard S&P 500 Growth ETF
VOOG
$27.2B
| $259M | 0.07% |
3,490,668
+91,134
| +3% | +$6.71M |
|
267
Avantis US Equity ETF
AVUS
$14.4B
| $259M | 0.07% |
2,313,333
+1,722
| +0.1% | +$190K |
|
268
Intuitive Surgical
ISRG
$134B
| $258M | 0.07% |
455,070
+22,774
| +5% | +$12.1M |
|
|
JMTG
269
JPMorgan Mortgage-Backed Securities ETF
JMTG
$6.81B
| $256M | 0.07% |
5,014,914
+370,761
| +8% | +$19M |
|
270
SPDR Gold MiniShares Trust
GLDM
$29.5B
| $256M | 0.07% |
2,992,890
-28,641
| -0.9% | -$2.35M |
|
271
Altria Group
MO
$114B
| $255M | 0.07% |
4,414,397
+658,500
| +18% | +$39.8M |
|
272
Citigroup
C
$226B
| $253M | 0.07% |
2,170,522
+61,892
| +3% | +$6.43M |
|
273
Invesco S&P International Developed Momentum ETF
IDMO
$4.23B
| $253M | 0.07% |
4,549,563
+677,990
| +18% | +$36.8M |
|
274
iShares Select Dividend ETF
DVY
$23.6B
| $253M | 0.07% |
1,789,466
+65,691
| +4% | +$9.28M |
|
275
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
| $252M | 0.07% |
3,425,295
+79,921
| +2% | +$5.81M |
|
Similar funds
LPL Financial's Q4 2025 Portfolio in Review
As of Q4 2025, LPL Financial held 6,133 positions worth $366B, up 6.7% from $343B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $17.7B of net new capital in Q4 2025, opening 355 new positions and adding to 3,269 existing holdings. Its largest new stake was Akre Focus ETF: 2,308,689 shares worth $151M.
By sector, the portfolio is most concentrated in Technology at 8.6% of assets, down from 8.8% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was iShares MSCI USA Quality Factor ETF, an estimated $461M trimmed.
- LPL Financial's largest Q4 2025 buy was Akre Focus ETF: 2,308,689 shares worth $151M.
- LPL Financial added most to iShares S&P 500 Value ETF in Q4 2025, an estimated $517M increase.
- LPL Financial's biggest Q4 2025 reduction was iShares MSCI USA Quality Factor ETF, cutting an estimated $461M.
- LPL Financial fully exited Invesco BulletShares 2025 Corporate Bond ETF in Q4 2025, selling an estimated $119M.
- LPL Financial's ten largest holdings make up 15% of its $366B portfolio in Q4 2025.
- LPL Financial opened 355 new positions and closed 267 in Q4 2025.
- LPL Financial's portfolio value rose 6.7% quarter-over-quarter to $366B.
Based on LPL Financial's 13F filing for Q4 2025, filed 11 Feb 2026.