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 | |
|---|---|---|---|---|---|---|
3201
Ionis Pharmaceuticals
IONS
$9.29B
| $2.46M | ﹤0.01% |
31,069
+6,606
| +27% | +$497K |
|
3202
Invesco CurrencyShares Japanese Yen Trust
FXY
$427M
| $2.46M | ﹤0.01% |
41,879
+2,659
| +7% | +$159K |
|
3203
Avnet
AVT
$8.14B
| $2.45M | ﹤0.01% |
51,007
-3,594
| -7% | -$177K |
|
|
BELFB
3204
Bel Fuse Inc Class B
BELFB
$4.3B
| $2.45M | ﹤0.01% |
14,421
+5,872
| +69% | +$918K |
|
3205
Innovator US Equity Buffer ETF August
BAUG
$204M
| $2.44M | ﹤0.01% |
48,842
-443
| -0.9% | -$21.9K |
|
3206
Invesco Food & Beverage ETF
PBJ
$106M
| $2.44M | ﹤0.01% |
54,516
-50,025
| -48% | -$2.24M |
|
3207
Strategic Education
STRA
$1.79B
| $2.44M | ﹤0.01% |
30,448
+759
| +3% | +$60.6K |
|
3208
PIMCO RAFI ESG US ETF
RAFE
$169M
| $2.44M | ﹤0.01% |
58,152
+8,791
| +18% | +$363K |
|
3209
Prudential
PUK
$34.4B
| $2.44M | ﹤0.01% |
78,331
+1,322
| +2% | +$37.9K |
|
|
MMT
3210
Aberdeen Multi-Market Income Fund
MMT
$244M
| $2.44M | ﹤0.01% |
523,725
-33,861
| -6% | -$159K |
|
3211
FT Vest US Equity Enhance & Moderate Buffer ETF June
XJUN
$139M
| $2.43M | ﹤0.01% |
56,522
-3,017
| -5% | -$128K |
|
|
CGO
3212
Calamos Global Total Return Fund
CGO
$131M
| $2.43M | ﹤0.01% |
213,039
-12,590
| -6% | -$146K |
|
3213
National Health Investors
NHI
$3.47B
| $2.42M | ﹤0.01% |
31,750
+1,670
| +6% | +$128K |
|
3214
IDEX
IEX
$17.8B
| $2.42M | ﹤0.01% |
13,620
-5,661
| -29% | -$967K |
|
|
FINS
3215
Angel Oak Financial Strategies Income Term Trust
FINS
$424M
| $2.42M | ﹤0.01% |
183,115
+4,153
| +2% | +$54.4K |
|
3216
PUT
Alibaba
BABA
$299B
| $2.42M | ﹤0.01% |
16,500
+8,900
| +117% | +$1.45M |
|
3217
Kirby Corp
KEX
$7.13B
| $2.42M | ﹤0.01% |
21,942
-942
| -4% | -$95.8K |
|
|
CWAN
3218
DELISTED
Clearwater Analytics
CWAN
| $2.42M | ﹤0.01% |
100,139
-4,339
| -4% | -$86.9K |
|
|
IFN
3219
Aberdeen India Fund
IFN
$507M
| $2.41M | ﹤0.01% |
175,953
+5,704
| +3% | +$83.1K |
|
3220
Patrick Industries
PATK
$2.76B
| $2.41M | ﹤0.01% |
22,226
+1,649
| +8% | +$173K |
|
3221
Xtrackers Municipal Infrastructure Revenue Bond Active ETF
RVNU
$144M
| $2.4M | ﹤0.01% |
97,732
-7,671
| -7% | -$190K |
|
|
WDI
3222
Western Asset Diversified Income Fund
WDI
$686M
| $2.4M | ﹤0.01% |
173,591
-3,798
| -2% | -$54.6K |
|
3223
Five Below
FIVE
$13B
| $2.39M | ﹤0.01% |
12,707
-48,809
| -79% | -$7.93M |
|
|
SPPP
3224
Sprott Physical Platinum and Palladium Trust
SPPP
$630M
| $2.39M | ﹤0.01% |
141,841
+48,739
| +52% | +$720K |
|
3225
Qorvo
QRVO
$8.49B
| $2.39M | ﹤0.01% |
28,249
-582
| -2% | -$51.4K |
|
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.