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 | |
|---|---|---|---|---|---|---|
3101
Gladstone Capital
GLAD
$444M
| $2.74M | ﹤0.01% |
132,456
-1,428
| -1% | -$28.9K |
|
3102
Valaris
VAL
$5.92B
| $2.73M | ﹤0.01% |
54,119
+11,021
| +26% | +$591K |
|
3103
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$653M
| $2.73M | ﹤0.01% |
229,167
+37,445
| +20% | +$442K |
|
3104
iShares iBonds Dec 2033 Term Corporate ETF
IBDY
$1.09B
| $2.72M | ﹤0.01% |
103,867
+13,122
| +14% | +$344K |
|
3105
Genius Sports
GENI
$2.1B
| $2.71M | ﹤0.01% |
246,337
+32,219
| +15% | +$351K |
|
3106
Corebridge Financial
CRBG
$14.9B
| $2.71M | ﹤0.01% |
89,961
-45,495
| -34% | -$1.4M |
|
3107
Putnam BDC Income ETF
PBDC
$303M
| $2.71M | ﹤0.01% |
88,606
+6,068
| +7% | +$186K |
|
3108
Mirion Technologies
MIR
$3.77B
| $2.71M | ﹤0.01% |
115,715
+39,487
| +52% | +$985K |
|
3109
Gladstone Investment Corp
GAIN
$658M
| $2.71M | ﹤0.01% |
193,933
-1,825
| -0.9% | -$25.3K |
|
3110
Littelfuse
LFUS
$11.8B
| $2.71M | ﹤0.01% |
10,707
+277
| +3% | +$70.5K |
|
|
ANGX
3111
Angel Studios
ANGX
$698M
| $2.71M | ﹤0.01% |
579,615
+4,240
| +0.7% | +$25.1K |
|
3112
Novanta
NOVT
$6.35B
| $2.7M | ﹤0.01% |
22,717
+5,685
| +33% | +$647K |
|
3113
ALPS O'Shares Global Internet Giants ETF
OGIG
$112M
| $2.7M | ﹤0.01% |
51,348
-12,625
| -20% | -$694K |
|
3114
Aramark
ARMK
$16.1B
| $2.7M | ﹤0.01% |
73,228
+5,851
| +9% | +$223K |
|
|
BFZ
3115
DELISTED
BlackRock CA Municipal Income Trust
BFZ
| $2.7M | ﹤0.01% |
251,285
-21,249
| -8% | -$231K |
|
3116
Zions Bancorporation
ZION
$10.5B
| $2.7M | ﹤0.01% |
46,048
-4,788
| -9% | -$261K |
|
3117
First Industrial Realty Trust
FR
$8.39B
| $2.7M | ﹤0.01% |
47,063
-5,166
| -10% | -$288K |
|
3118
Triumph Financial Inc
TFIN
$1.84B
| $2.7M | ﹤0.01% |
43,034
+9,858
| +30% | +$552K |
|
3119
GitLab
GTLB
$6.96B
| $2.69M | ﹤0.01% |
71,656
-97,549
| -58% | -$4.22M |
|
3120
USCF Midstream Energy Income Fund
UMI
$510M
| $2.69M | ﹤0.01% |
54,733
-7,649
| -12% | -$380K |
|
|
ECG
3121
Everus Construction Group
ECG
$7.17B
| $2.69M | ﹤0.01% |
31,392
+3,547
| +13% | +$317K |
|
3122
Century Aluminum
CENX
$4.91B
| $2.68M | ﹤0.01% |
68,524
+9,252
| +16% | +$289K |
|
3123
Vicor
VICR
$10.2B
| $2.68M | ﹤0.01% |
24,462
+1,069
| +5% | +$90.9K |
|
|
MHF
3124
Western Asset Municipal High Income Fund
MHF
$154M
| $2.68M | ﹤0.01% |
389,642
+56,526
| +17% | +$396K |
|
3125
CorMedix
CRMD
$567M
| $2.67M | ﹤0.01% |
229,436
-91,290
| -28% | -$1.01M |
|
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.