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 | |
|---|---|---|---|---|---|---|
3001
ScottsMiracle-Gro
SMG
$3.57B
| $3.04M | ﹤0.01% |
52,177
-4,899
| -9% | -$275K |
|
|
HPI
3002
John Hancock Preferred Income Fund
HPI
$436M
| $3.04M | ﹤0.01% |
188,028
+782
| +0.4% | +$13.3K |
|
3003
Pacer Industrial Real Estate ETF
INDS
$115M
| $3.04M | ﹤0.01% |
82,905
+5,931
| +8% | +$225K |
|
3004
Nuveen Real Asset Income & Growth Fund
JRI
$350M
| $3.04M | ﹤0.01% |
223,359
+5,529
| +3% | +$76K |
|
|
BCPC
3005
Balchem Corp
BCPC
$5.69B
| $3.04M | ﹤0.01% |
19,792
+611
| +3% | +$93.3K |
|
3006
Tompkins Financial
TMP
$1.45B
| $3.04M | ﹤0.01% |
41,854
+1,800
| +4% | +$123K |
|
3007
Cellebrite
CLBT
$3.91B
| $3.04M | ﹤0.01% |
168,341
+22,054
| +15% | +$396K |
|
3008
First Trust Exchange-Traded Fund II First Trust S-Network Future Vehicles & Technology ETF
CARZ
$48.1M
| $3.03M | ﹤0.01% |
38,926
-2,765
| -7% | -$211K |
|
3009
RadNet
RDNT
$6B
| $3.02M | ﹤0.01% |
42,372
-326
| -0.8% | -$25.2K |
|
3010
Nuveen AMT-Free Municipal Value Fund
NUW
$251M
| $3.02M | ﹤0.01% |
211,245
+23,859
| +13% | +$341K |
|
3011
IQ ARB Merger Arbitrage ETF
MNA
$253M
| $3.01M | ﹤0.01% |
84,212
-24,837
| -23% | -$890K |
|
3012
Ascendis Pharma A/S
ASND
$16.7B
| $3.01M | ﹤0.01% |
14,131
+4,277
| +43% | +$883K |
|
3013
Parsons
PSN
$5.13B
| $3.01M | ﹤0.01% |
48,751
-3,476
| -7% | -$272K |
|
3014
Cipher Digital
CIFR
$7.68B
| $3M | ﹤0.01% |
203,534
+115,979
| +132% | +$2.05M |
|
|
SFBS
3015
ServisFirst Bancshares
SFBS
$4.89B
| $3M | ﹤0.01% |
41,846
+21,380
| +104% | +$1.57M |
|
3016
NYLI Hedge Multi-Strategy Tracker ETF
QAI
$1.03B
| $3M | ﹤0.01% |
89,528
+2,436
| +3% | +$82.3K |
|
|
LGI
3017
Lazard Global Total Return & Income Fund
LGI
$241M
| $2.99M | ﹤0.01% |
171,687
-2,573
| -1% | -$44.7K |
|
|
GREK
3018
Global X MSCI Greece ETF
GREK
$332M
| $2.99M | ﹤0.01% |
45,418
+35,575
| +361% | +$2.32M |
|
3019
Itaú Unibanco
ITUB
$81.8B
| $2.99M | ﹤0.01% |
417,881
+63,964
| +18% | +$455K |
|
3020
Fidelity MSCI Materials Index ETF
FMAT
$619M
| $2.99M | ﹤0.01% |
56,287
+102
| +0.2% | +$5.26K |
|
3021
TD Synnex
SNX
$20.8B
| $2.99M | ﹤0.01% |
19,872
+2,779
| +16% | +$426K |
|
3022
United Bankshares
UBSI
$6.61B
| $2.98M | ﹤0.01% |
77,694
+1,446
| +2% | +$53.8K |
|
3023
Invesco Value Municipal Income Trust
IIM
$599M
| $2.98M | ﹤0.01% |
241,967
-52,696
| -18% | -$658K |
|
3024
BlackRock Health Sciences Trust II
BMEZ
$1.01B
| $2.98M | ﹤0.01% |
197,992
+11,919
| +6% | +$179K |
|
3025
Nuveen ESG 1-5 Year US Aggregate Bond ETF
NUSA
$34.6M
| $2.98M | ﹤0.01% |
127,398
-7,215
| -5% | -$169K |
|
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.