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 | |
|---|---|---|---|---|---|---|
3426
Wayfair
W
$14.1B
| $1.98M | ﹤0.01% |
19,675
-154
| -0.8% | -$14.8K |
|
3427
DaVita
DVA
$11.4B
| $1.97M | ﹤0.01% |
17,351
-19,377
| -53% | -$2.36M |
|
3428
BioNTech
BNTX
$23.3B
| $1.97M | ﹤0.01% |
20,674
+2,317
| +13% | +$233K |
|
3429
SBA Communications
SBAC
$19.3B
| $1.97M | ﹤0.01% |
10,175
-8,248
| -45% | -$1.59M |
|
3430
Millicom
TIGO
$15.9B
| $1.97M | ﹤0.01% |
35,474
+7,541
| +27% | +$380K |
|
|
UHT
3431
Universal Health Realty Income Trust
UHT
$566M
| $1.96M | ﹤0.01% |
50,112
+41,253
| +466% | +$1.61M |
|
|
OEFA
3432
ALPS O'Shares International Developed Quality Dividend ETF
OEFA
$37.8M
| $1.96M | ﹤0.01% |
58,758
-4,345
| -7% | -$144K |
|
3433
Axalta
AXTA
$7.98B
| $1.96M | ﹤0.01% |
60,689
+6,674
| +12% | +$196K |
|
3434
Semtech
SMTC
$12.2B
| $1.96M | ﹤0.01% |
26,591
+3,781
| +17% | +$268K |
|
|
UDEC
3435
Innovator US Equity Ultra Buffer ETF December
UDEC
$249M
| $1.96M | ﹤0.01% |
49,324
-252
| -0.5% | -$9.83K |
|
|
MVT
3436
DELISTED
BlackRock MuniVest Fund II
MVT
| $1.95M | ﹤0.01% |
180,508
+11,961
| +7% | +$128K |
|
|
BSJW
3437
Invesco BulletShares 2032 High Yield Corporate Bond ETF
BSJW
$48M
| $1.95M | ﹤0.01% |
75,568
+8,854
| +13% | +$228K |
|
3438
CAE Inc. Common Shares
CAE
$8.74B
| $1.95M | ﹤0.01% |
64,023
+10,004
| +19% | +$281K |
|
3439
ALPS Disruptive Technologies ETF
DTEC
$76.2M
| $1.94M | ﹤0.01% |
40,012
-436
| -1% | -$21.8K |
|
3440
Riot Platforms
RIOT
$7.65B
| $1.94M | ﹤0.01% |
153,182
+102,524
| +202% | +$1.75M |
|
3441
Knight Transportation
KNX
$11.2B
| $1.94M | ﹤0.01% |
37,048
-1,505
| -4% | -$70.5K |
|
3442
NOV
NOV
$7.49B
| $1.94M | ﹤0.01% |
123,899
+14,919
| +14% | +$221K |
|
|
ESN
3443
Essential 40 Stock ETF
ESN
$334M
| $1.94M | ﹤0.01% |
112,773
+50,735
| +82% | +$870K |
|
|
MZTI
3444
The Marzetti Company
MZTI
$3.15B
| $1.93M | ﹤0.01% |
11,767
-1,120
| -9% | -$187K |
|
3445
China Yuchai International
CYD
$1.75B
| $1.93M | ﹤0.01% |
54,423
+6,704
| +14% | +$244K |
|
3446
Skywest
SKYW
$4.19B
| $1.93M | ﹤0.01% |
19,216
-15,859
| -45% | -$1.59M |
|
3447
ACI Worldwide
ACIW
$5.27B
| $1.93M | ﹤0.01% |
40,307
-2,553
| -6% | -$124K |
|
3448
Zillow
Z
$7.68B
| $1.93M | ﹤0.01% |
28,226
-1,864
| -6% | -$135K |
|
3449
Perion Network
PERI
$379M
| $1.92M | ﹤0.01% |
200,823
-8,503
| -4% | -$82.6K |
|
3450
Motley Fool Small-Cap Growth ETF
TMFS
$59.8M
| $1.92M | ﹤0.01% |
55,218
+9,454
| +21% | +$327K |
|
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.