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 | |
|---|---|---|---|---|---|---|
3251
Innovator US Small Cap Power Buffer ETF April
KAPR
$218M
| $2.33M | ﹤0.01% |
66,314
+13,058
| +25% | +$452K |
|
|
USAR
3252
USA Rare Earth Inc
USAR
$4.63B
| $2.33M | ﹤0.01% |
195,609
+14,663
| +8% | +$279K |
|
3253
Simplify Interest Rate Hedge ETF
PFIX
$179M
| $2.33M | ﹤0.01% |
48,526
+7,713
| +19% | +$367K |
|
3254
Equitable Holdings
EQH
$14B
| $2.32M | ﹤0.01% |
48,704
-17,048
| -26% | -$808K |
|
3255
CALL
Oracle
ORCL
$419B
| $2.32M | ﹤0.01% |
11,900
+9,400
| +376% | +$2.24M |
|
3256
Independent Bank
INDB
$4.02B
| $2.32M | ﹤0.01% |
31,736
-2,783
| -8% | -$198K |
|
3257
Cheesecake Factory
CAKE
$5.63B
| $2.32M | ﹤0.01% |
45,934
-25,869
| -36% | -$1.3M |
|
3258
Enova International
ENVA
$6.4B
| $2.32M | ﹤0.01% |
14,735
+8,322
| +130% | +$1.08M |
|
|
ABFL
3259
Abacus FCF Leaders ETF
ABFL
$543M
| $2.31M | ﹤0.01% |
32,429
-1,803
| -5% | -$129K |
|
3260
Ondas Inc
ONDS
$5.56B
| $2.31M | ﹤0.01% |
237,068
+81,572
| +52% | +$655K |
|
3261
TCW Transform 500 ETF
VOTE
$1.13B
| $2.31M | ﹤0.01% |
28,778
+4,954
| +21% | +$394K |
|
3262
Archrock
AROC
$5.78B
| $2.31M | ﹤0.01% |
88,697
+14,703
| +20% | +$366K |
|
3263
iShares ESG Screened S&P Small-Cap ETF
XJR
$189M
| $2.31M | ﹤0.01% |
54,183
-1,167
| -2% | -$49.5K |
|
3264
Cambria Trinity ETF
TRTY
$146M
| $2.31M | ﹤0.01% |
80,927
+36,644
| +83% | +$1.03M |
|
3265
Global X S&P 500 Quality Dividend ETF
QDIV
$30.7M
| $2.3M | ﹤0.01% |
66,477
-1,043
| -2% | -$36.2K |
|
|
GSWO
3266
Goldman Sachs ActiveBeta World Equity ETF
GSWO
$1.79B
| $2.3M | ﹤0.01% |
39,858
-526,525
| -93% | -$30M |
|
3267
Smith & Nephew
SNN
$12.6B
| $2.3M | ﹤0.01% |
70,059
+1,238
| +2% | +$42.4K |
|
|
PRMB
3268
Primo Brands
PRMB
$8.55B
| $2.3M | ﹤0.01% |
140,547
-424,705
| -75% | -$7.85M |
|
3269
iShares Currency Hedged MSCI Japan ETF
HEWJ
$752M
| $2.29M | ﹤0.01% |
43,481
-220
| -0.5% | -$11.6K |
|
3270
SouthState Bank Corp
SSB
$10.7B
| $2.29M | ﹤0.01% |
24,348
-72
| -0.3% | -$6.67K |
|
3271
iShares MSCI Pacific ex Japan ETF
EPP
$2.26B
| $2.29M | ﹤0.01% |
45,393
-34,090
| -43% | -$1.74M |
|
3272
iShares BB Rated Corporate Bond ETF
HYBB
$427M
| $2.29M | ﹤0.01% |
48,600
+10,726
| +28% | +$505K |
|
3273
Goodyear
GT
$1.75B
| $2.29M | ﹤0.01% |
261,336
+23,825
| +10% | +$188K |
|
|
SJT
3274
San Juan Basin Royalty Trust
SJT
$126M
| $2.29M | ﹤0.01% |
407,116
-10,379
| -2% | -$60.1K |
|
3275
BrandywineGLOBAL Dynamic US Large Cap Value ETF
DVAL
$80.7M
| $2.28M | ﹤0.01% |
158,727
+8,828
| +6% | +$127K |
|
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.