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 | |
|---|---|---|---|---|---|---|
2901
Pacer WealthShield ETF
PWS
$24.8M
| $3.36M | ﹤0.01% |
103,883
+36,164
| +53% | +$1.19M |
|
|
SEZL
2902
Sezzle
SEZL
$4.32B
| $3.36M | ﹤0.01% |
52,888
-4,492
| -8% | -$306K |
|
2903
Black Hills Corp
BKH
$5.59B
| $3.36M | ﹤0.01% |
48,334
+1,297
| +3% | +$87.4K |
|
2904
Silicon Laboratories
SLAB
$7.22B
| $3.35M | ﹤0.01% |
25,667
-2,241
| -8% | -$295K |
|
2905
LKQ Corp
LKQ
$6.25B
| $3.35M | ﹤0.01% |
111,067
-6,783
| -6% | -$205K |
|
2906
TeraWulf
WULF
$8.36B
| $3.35M | ﹤0.01% |
291,715
+32,392
| +12% | +$434K |
|
2907
Kenon Holdings
KEN
$3.34B
| $3.35M | ﹤0.01% |
50,543
+2,541
| +5% | +$142K |
|
|
INEQ
2908
Columbia International Equity Income ETF
INEQ
$104M
| $3.34M | ﹤0.01% |
89,666
+18,421
| +26% | +$703K |
|
2909
Invesco Next Gen Connectivity ETF
KNCT
$160M
| $3.33M | ﹤0.01% |
24,864
+16,175
| +186% | +$2.14M |
|
2910
iShares US Tech Breakthrough Multisector ETF
TECB
$491M
| $3.32M | ﹤0.01% |
54,584
+8,127
| +17% | +$500K |
|
2911
Nuveen California AMT-Free Quality Municipal Income Fund
NKX
$663M
| $3.31M | ﹤0.01% |
266,090
+7,692
| +3% | +$97.6K |
|
2912
Nuveen Enhanced Yield US Aggregate Bond ETF
NUAG
$96.4M
| $3.31M | ﹤0.01% |
156,020
-53,193
| -25% | -$1.13M |
|
2913
Ovintiv
OVV
$17.6B
| $3.3M | ﹤0.01% |
84,324
-27,790
| -25% | -$1.08M |
|
2914
MACOM Technology Solutions
MTSI
$22.9B
| $3.3M | ﹤0.01% |
19,277
+8,177
| +74% | +$1.3M |
|
2915
Invesco S&P SmallCap Industrials ETF
PSCI
$194M
| $3.3M | ﹤0.01% |
21,992
+1,482
| +7% | +$222K |
|
2916
SiteOne Landscape Supply
SITE
$4.32B
| $3.3M | ﹤0.01% |
26,475
-5,521
| -17% | -$699K |
|
2917
Piper Sandler
PIPR
$5.35B
| $3.29M | ﹤0.01% |
38,744
+2,952
| +8% | +$249K |
|
2918
BlackRock Floating Rate Income Strategies Fund
FRA
$391M
| $3.29M | ﹤0.01% |
279,099
-61,312
| -18% | -$748K |
|
2919
Primerica
PRI
$9.63B
| $3.28M | ﹤0.01% |
12,713
-1,094
| -8% | -$285K |
|
2920
Harbor Human Capital Factor US Large Cap ETF
HAPI
$506M
| $3.28M | ﹤0.01% |
80,016
-7,505
| -9% | -$306K |
|
2921
ArcelorMittal
MT
$55.6B
| $3.28M | ﹤0.01% |
72,047
+2,897
| +4% | +$119K |
|
2922
Life Time Group Holdings
LTH
$9.79B
| $3.28M | ﹤0.01% |
123,445
+2,285
| +2% | +$59.5K |
|
2923
Pitney Bowes
PBI
$2.27B
| $3.27M | ﹤0.01% |
309,794
-2,582
| -0.8% | -$26.8K |
|
2924
Dorian LPG
LPG
$1.84B
| $3.27M | ﹤0.01% |
134,484
-14,702
| -10% | -$385K |
|
2925
AllianzIM U.S. Equity Buffer20 Sep ETF
SEPW
$101M
| $3.27M | ﹤0.01% |
102,383
+2,339
| +2% | +$73.8K |
|
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.