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 | |
|---|---|---|---|---|---|---|
276
Goldman Sachs ActiveBeta International Equity ETF
GSIE
$6.16B
| $248M | 0.07% |
5,780,977
-189,037
| -3% | -$7.89M |
|
277
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
| $247M | 0.07% |
8,447,629
-167,615
| -2% | -$4.91M |
|
278
iShares MSCI EAFE Growth ETF
EFG
$17.3B
| $246M | 0.07% |
2,156,644
-480,302
| -18% | -$55.1M |
|
279
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$19.9B
| $245M | 0.07% |
876,401
+55,656
| +7% | +$15.9M |
|
280
Global X Artificial Intelligence & Technology ETF
AIQ
$11B
| $244M | 0.07% |
4,791,048
+757,751
| +19% | +$38.5M |
|
281
iShares Preferred and Income Securities ETF
PFF
$13.3B
| $243M | 0.07% |
7,863,267
-244,722
| -3% | -$7.62M |
|
282
Waste Management
WM
$91B
| $243M | 0.07% |
1,106,777
+153,872
| +16% | +$32.8M |
|
283
Vanguard Morningstar Large-Cap ETF
VV
$54.3B
| $240M | 0.07% |
763,854
-22,386
| -3% | -$6.99M |
|
284
Lam Research
LRCX
$390B
| $240M | 0.07% |
1,401,146
+63,490
| +5% | +$9.87M |
|
285
Lowe's Companies
LOW
$125B
| $240M | 0.07% |
993,332
+22,175
| +2% | +$5.32M |
|
286
Truist Financial
TFC
$64B
| $239M | 0.07% |
4,864,872
+178,665
| +4% | +$8.23M |
|
287
JPMorgan Equity Premium Income ETF
JEPI
$45.9B
| $239M | 0.07% |
4,175,885
-71,683
| -2% | -$4.09M |
|
288
WisdomTree US Value Fund
WTV
$3.36B
| $239M | 0.07% |
2,556,543
+261,672
| +11% | +$24M |
|
289
Global X Defense Tech ETF
SHLD
$7.67B
| $237M | 0.06% |
3,658,321
+466,771
| +15% | +$30.7M |
|
290
Uber
UBER
$153B
| $236M | 0.06% |
2,886,056
-197,918
| -6% | -$17.8M |
|
291
Blackrock
BLK
$176B
| $235M | 0.06% |
219,551
+6,588
| +3% | +$7.2M |
|
292
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
| $234M | 0.06% |
2,907,145
+385,428
| +15% | +$31.1M |
|
293
VanEck Uranium + Nuclear Energy ETF
NLR
$4.18B
| $232M | 0.06% |
1,871,939
+313,143
| +20% | +$43.1M |
|
294
Invesco S&P 500 Low Volatility ETF
SPLV
$7.21B
| $232M | 0.06% |
3,249,785
-372,229
| -10% | -$26.8M |
|
295
Vanguard Health Care ETF
VHT
$18.6B
| $232M | 0.06% |
806,286
+51,515
| +7% | +$14.4M |
|
296
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.39B
| $232M | 0.06% |
4,819,887
+153,164
| +3% | +$7.35M |
|
297
Eaton
ETN
$174B
| $232M | 0.06% |
726,884
+26,064
| +4% | +$9.24M |
|
298
Goldman Sachs ETF Trust Goldman Sachs S&P 500 Premium Income ETF
GPIX
$5.11B
| $226M | 0.06% |
4,282,956
+1,445,041
| +51% | +$75.7M |
|
299
First Trust Dow Jones Internet Index Fund ETF
FDN
$5.45B
| $226M | 0.06% |
839,143
+44,692
| +6% | +$12.3M |
|
300
Vanguard Long-Term Bond ETF
BLV
$5.75B
| $225M | 0.06% |
3,235,906
+247,583
| +8% | +$17.5M |
|
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.