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 | |
|---|---|---|---|---|---|---|
3526
VSE Corp
VSEC
$6.8B
| $1.76M | ﹤0.01% |
10,190
+3,291
| +48% | +$563K |
|
|
GLDD
3527
DELISTED
Great Lakes Dredge & Dock
GLDD
| $1.76M | ﹤0.01% |
134,022
+21,222
| +19% | +$262K |
|
3528
Viavi Solutions
VIAV
$9.48B
| $1.75M | ﹤0.01% |
98,125
+25,322
| +35% | +$409K |
|
|
LADR
3529
Ladder Capital
LADR
$1.26B
| $1.75M | ﹤0.01% |
158,900
-29,331
| -16% | -$319K |
|
3530
Prosperity Bancshares
PB
$8.85B
| $1.74M | ﹤0.01% |
25,219
+1,069
| +4% | +$72.1K |
|
3531
First Trust NASDAQ ABA Community Bank Index Fund
QABA
$93.8M
| $1.74M | ﹤0.01% |
30,755
-408
| -1% | -$22.8K |
|
3532
CALL
Spotify
SPOT
$103B
| $1.74M | ﹤0.01% |
3,000
+500
| +20% | +$313K |
|
3533
AGF US Market Neutral Anti-Beta Fund
BTAL
$300M
| $1.74M | ﹤0.01% |
120,583
-440,299
| -79% | -$6.62M |
|
3534
Frequency Electronics
FEIM
$831M
| $1.73M | ﹤0.01% |
32,215
+23,473
| +269% | +$863K |
|
|
PENG
3535
Penguin Solutions Inc
PENG
$2.94B
| $1.73M | ﹤0.01% |
88,661
-931
| -1% | -$19.9K |
|
|
NXC
3536
DELISTED
Nuveen CA Select Tax-Free Income Portfolio
NXC
| $1.73M | ﹤0.01% |
131,218
-12,786
| -9% | -$168K |
|
|
BFK
3537
DELISTED
BlackRock Municipal Income Trust
BFK
| $1.73M | ﹤0.01% |
172,686
-514
| -0.3% | -$5.13K |
|
3538
Direxion Auspice Broad Commodity Strategy ETF
COM
$207M
| $1.73M | ﹤0.01% |
58,455
-2,879
| -5% | -$84.6K |
|
3539
Kennametal
KMT
$2.31B
| $1.73M | ﹤0.01% |
60,742
+11,794
| +24% | +$301K |
|
3540
Trump Media & Technology Group
DJT
$2.47B
| $1.72M | ﹤0.01% |
129,686
-13,279
| -9% | -$181K |
|
|
SBR
3541
Sabine Royalty Trust
SBR
$1.06B
| $1.72M | ﹤0.01% |
25,041
-1,482
| -6% | -$108K |
|
3542
KraneShares Electric Vehicles and Future Mobility Index ETF
KARS
$79.8M
| $1.72M | ﹤0.01% |
56,199
-1,073
| -2% | -$33K |
|
|
SNV
3543
DELISTED
Synovus
SNV
| $1.71M | ﹤0.01% |
34,237
-7,415
| -18% | -$356K |
|
3544
Willdan Group
WLDN
$1.28B
| $1.71M | ﹤0.01% |
16,529
-473
| -3% | -$46.6K |
|
|
EVG
3545
Eaton Vance Short Duration Diversified Income Fund
EVG
$145M
| $1.71M | ﹤0.01% |
156,845
-8,311
| -5% | -$91.8K |
|
3546
U-Haul Holding Co Series N
UHAL.B
$12.5B
| $1.71M | ﹤0.01% |
36,491
+2,871
| +9% | +$140K |
|
3547
FT Vest US Small Cap Moderate Buffer ETF May
SMAY
$110M
| $1.7M | ﹤0.01% |
65,552
+833
| +1% | +$21.3K |
|
3548
Iovance Biotherapeutics
IOVA
$2.94B
| $1.7M | ﹤0.01% |
623,072
+11,675
| +2% | +$27K |
|
3549
Kilroy Realty
KRC
$4.24B
| $1.7M | ﹤0.01% |
45,442
+12,314
| +37% | +$503K |
|
3550
National Bankshares
NKSH
$268M
| $1.7M | ﹤0.01% |
50,636
-81
| -0.2% | -$2.45K |
|
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.