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 | |
|---|---|---|---|---|---|---|
3451
iShares Currency Hedged MSCI Emerging Markets
HEEM
$287M
| $1.92M | ﹤0.01% |
55,273
+3,327
| +6% | +$115K |
|
3452
Avantor
AVTR
$9.31B
| $1.92M | ﹤0.01% |
167,626
-32,310
| -16% | -$398K |
|
3453
Federal Agricultural Mortgage
AGM
$2.55B
| $1.92M | ﹤0.01% |
10,941
+2,933
| +37% | +$493K |
|
|
CNH
3454
CNH Industrial
CNH
$17.1B
| $1.92M | ﹤0.01% |
208,009
-30,698
| -13% | -$307K |
|
|
PMO
3455
Franklin Municipal Opportunities Trust
PMO
$285M
| $1.91M | ﹤0.01% |
178,607
+26,562
| +17% | +$276K |
|
3456
First Trust Securitized Plus ETF
DEED
$64.4M
| $1.91M | ﹤0.01% |
88,383
+3,728
| +4% | +$80.3K |
|
3457
CarGurus
CARG
$3.22B
| $1.91M | ﹤0.01% |
49,738
+5,157
| +12% | +$186K |
|
|
LAC
3458
Lithium Americas
LAC
$1.18B
| $1.9M | ﹤0.01% |
436,907
+73,854
| +20% | +$426K |
|
3459
Nuveen Select Tax-Free Income Portfolio
NXP
$897M
| $1.9M | ﹤0.01% |
135,017
+2,021
| +2% | +$29K |
|
|
BCLO
3460
iShares BBB-B CLO Active ETF
BCLO
$84.3M
| $1.9M | ﹤0.01% |
38,377
+3,196
| +9% | +$159K |
|
3461
Kaiser Aluminum
KALU
$3.16B
| $1.9M | ﹤0.01% |
16,571
-1,300
| -7% | -$124K |
|
3462
MKS Inc
MKSI
$19.9B
| $1.9M | ﹤0.01% |
11,910
+5,049
| +74% | +$749K |
|
3463
CBIZ
CBZ
$2.96B
| $1.9M | ﹤0.01% |
37,722
-3,949
| -9% | -$208K |
|
3464
Pacira BioSciences
PCRX
$972M
| $1.9M | ﹤0.01% |
73,440
+47,224
| +180% | +$1.12M |
|
|
SLDE
3465
Slide Insurance Holdings
SLDE
$2.41B
| $1.9M | ﹤0.01% |
97,439
-2,980
| -3% | -$49.7K |
|
3466
Terex
TEX
$7.74B
| $1.9M | ﹤0.01% |
35,537
+609
| +2% | +$30.8K |
|
3467
Invesco Dorsey Wright Basic Materials Momentum ETF
PYZ
$78.2M
| $1.9M | ﹤0.01% |
17,218
+3,353
| +24% | +$359K |
|
3468
WisdomTree Efficient Gold Plus Equity Strategy Fund
GDE
$478M
| $1.9M | ﹤0.01% |
30,757
-155,445
| -83% | -$9.33M |
|
|
EFT
3469
Eaton Vance Floating-Rate Income Trust
EFT
$289M
| $1.89M | ﹤0.01% |
167,759
-105,944
| -39% | -$1.21M |
|
3470
Pegasystems
PEGA
$5.44B
| $1.89M | ﹤0.01% |
31,714
-2,419
| -7% | -$142K |
|
|
PCM
3471
PCM Fund
PCM
$70.3M
| $1.89M | ﹤0.01% |
308,436
+19,364
| +7% | +$122K |
|
3472
SiriusXM
SIRI
$9.61B
| $1.89M | ﹤0.01% |
94,648
-51,579
| -35% | -$1.11M |
|
3473
Magnite
MGNI
$3.49B
| $1.89M | ﹤0.01% |
116,450
+6,583
| +6% | +$109K |
|
3474
PUT
Tesla
TSLA
$1.31T
| $1.89M | ﹤0.01% |
4,200
+1,100
| +35% | +$488K |
|
3475
BlackRock MuniYield Michigan Quality Fund
MIY
$361M
| $1.88M | ﹤0.01% |
160,413
+47,044
| +41% | +$545K |
|
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.