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 | |
|---|---|---|---|---|---|---|
|
ECHO
3501
EchoStar
ECHO
$25.6B
| $1.83M | ﹤0.01% |
16,808
+11,997
| +249% | +$977K |
|
3502
CNO Financial Group
CNO
$5.05B
| $1.82M | ﹤0.01% |
42,885
+2,792
| +7% | +$114K |
|
3503
Darling Ingredients
DAR
$9.84B
| $1.82M | ﹤0.01% |
50,521
+4,001
| +9% | +$135K |
|
|
PPI
3504
AXS Astoria Inflation Sensitive ETF
PPI
$162M
| $1.82M | ﹤0.01% |
97,502
+4,852
| +5% | +$90.4K |
|
|
ASM
3505
Avino Silver & Gold Mines
ASM
$1.29B
| $1.81M | ﹤0.01% |
291,913
+2,587
| +0.9% | +$13.9K |
|
3506
iShares US Oil Equipment & Services ETF
IEZ
$387M
| $1.81M | ﹤0.01% |
86,726
-17,658
| -17% | -$359K |
|
|
JFB
3507
JFB Construction Holdings
JFB
$89M
| $1.81M | ﹤0.01% |
247,010
-54,650
| -18% | -$432K |
|
|
MYCH
3508
State Street My2028 Corporate Bond ETF
MYCH
$735M
| $1.81M | ﹤0.01% |
71,975
+8,125
| +13% | +$204K |
|
3509
PUT
Bank of America
BAC
$448B
| $1.8M | ﹤0.01% |
32,800
-5,100
| -13% | -$270K |
|
3510
Aptus Behavioral Momentum ETF
ADME
$306M
| $1.8M | ﹤0.01% |
35,144
-9,368
| -21% | -$481K |
|
3511
CALL
Salesforce
CRM
$162B
| $1.8M | ﹤0.01% |
6,800
+100
| +1% | +$24.9K |
|
3512
Community Bank
CBU
$3.41B
| $1.79M | ﹤0.01% |
31,227
-1,590
| -5% | -$91.5K |
|
3513
Invesco Energy Exploration & Production ETF
PXE
$85.5M
| $1.79M | ﹤0.01% |
63,934
-993
| -2% | -$28.7K |
|
3514
Addus HomeCare
ADUS
$2.18B
| $1.78M | ﹤0.01% |
16,618
+3,031
| +22% | +$348K |
|
|
EIM
3515
Eaton Vance Municipal Bond Fund
EIM
$497M
| $1.78M | ﹤0.01% |
183,408
+39,190
| +27% | +$387K |
|
3516
SP Funds Dow Jones Global Sukuk ETF
SPSK
$648M
| $1.78M | ﹤0.01% |
97,748
+18,679
| +24% | +$347K |
|
|
IGA
3517
Voya Global Advantage and Premium Opportunity Fund
IGA
$158M
| $1.78M | ﹤0.01% |
183,451
+18,639
| +11% | +$182K |
|
|
KRMN
3518
Karman Holdings
KRMN
$8.21B
| $1.78M | ﹤0.01% |
24,364
+4,824
| +25% | +$349K |
|
3519
SiTime
SITM
$20.1B
| $1.78M | ﹤0.01% |
5,035
-307
| -6% | -$96.1K |
|
3520
BlackRock MuniYield Quality Fund III
MYI
$717M
| $1.77M | ﹤0.01% |
163,018
-34,042
| -17% | -$373K |
|
3521
Recursion Pharmaceuticals
RXRX
$1.8B
| $1.77M | ﹤0.01% |
433,132
+34,084
| +9% | +$169K |
|
3522
KT
KT
$8.83B
| $1.77M | ﹤0.01% |
93,354
-130,006
| -58% | -$2.42M |
|
3523
SLR Investment Corp
SLRC
$706M
| $1.77M | ﹤0.01% |
114,273
+31,259
| +38% | +$476K |
|
3524
Workiva
WK
$3.76B
| $1.77M | ﹤0.01% |
20,475
+185
| +0.9% | +$16.4K |
|
3525
Upwork
UPWK
$1.03B
| $1.76M | ﹤0.01% |
88,914
+69,098
| +349% | +$1.27M |
|
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.