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 | |
|---|---|---|---|---|---|---|
|
MMU
3826
Western Asset Managed Municipals Fund
MMU
$554M
| $1.27M | ﹤0.01% |
121,381
+1,838
| +2% | +$19.1K |
|
|
SARO
3827
StandardAero Inc
SARO
$9.37B
| $1.26M | ﹤0.01% |
44,042
+9,619
| +28% | +$262K |
|
3828
iShares MSCI Indonesia ETF
EIDO
$495M
| $1.26M | ﹤0.01% |
67,505
+2,349
| +4% | +$43K |
|
3829
Fidelity Disruptive Automation ETF
FBOT
$220M
| $1.26M | ﹤0.01% |
37,818
+28,319
| +298% | +$935K |
|
|
EDD
3830
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$385M
| $1.26M | ﹤0.01% |
232,093
+70,578
| +44% | +$382K |
|
3831
BlackRock MuniYield Quality Fund
MQY
$815M
| $1.26M | ﹤0.01% |
111,343
-692
| -0.6% | -$7.94K |
|
3832
Revolution Medicines
RVMD
$44.4B
| $1.26M | ﹤0.01% |
15,787
+9,928
| +169% | +$651K |
|
3833
Dimensional Emerging Markets Value ETF
DFEV
$2.06B
| $1.26M | ﹤0.01% |
37,229
+6,722
| +22% | +$222K |
|
3834
Northwest Natural Holdings
NWN
$2.09B
| $1.26M | ﹤0.01% |
26,851
+1,885
| +8% | +$87.9K |
|
3835
Merchants Bancorp
MBIN
$2.48B
| $1.25M | ﹤0.01% |
36,792
-2,988
| -8% | -$98.1K |
|
3836
Tarsus Pharmaceuticals
TARS
$2.97B
| $1.25M | ﹤0.01% |
15,283
-1,994
| -12% | -$149K |
|
3837
Sprott Junior Gold Miners ETF
SGDJ
$345M
| $1.25M | ﹤0.01% |
14,858
-412
| -3% | -$32.4K |
|
3838
iShares Global Equity Factor ETF
GLOF
$223M
| $1.25M | ﹤0.01% |
23,642
+3,806
| +19% | +$199K |
|
3839
Allegiant Air
ALGT
$2.41B
| $1.25M | ﹤0.01% |
14,608
-694
| -5% | -$49.6K |
|
3840
Warrior Met Coal
HCC
$5.04B
| $1.24M | ﹤0.01% |
14,100
-5,069
| -26% | -$381K |
|
3841
Hancock Whitney
HWC
$6.21B
| $1.24M | ﹤0.01% |
19,520
+475
| +2% | +$28.8K |
|
3842
NCR Voyix
VYX
$1.09B
| $1.24M | ﹤0.01% |
121,756
+61,950
| +104% | +$673K |
|
3843
First Merchants
FRME
$2.66B
| $1.24M | ﹤0.01% |
33,092
+18,460
| +126% | +$684K |
|
3844
T. Rowe Price US Equity Research ETF
TSPA
$4.44B
| $1.24M | ﹤0.01% |
28,962
+11,686
| +68% | +$497K |
|
3845
Alkermes
ALKS
$8.29B
| $1.24M | ﹤0.01% |
44,242
+397
| +0.9% | +$11.9K |
|
3846
ODDITY Tech
ODD
$585M
| $1.24M | ﹤0.01% |
30,808
+18,299
| +146% | +$827K |
|
|
NQP
3847
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
| $1.24M | ﹤0.01% |
104,072
+45,137
| +77% | +$544K |
|
3848
Innovator US Equity Buffer ETF June
BJUN
$322M
| $1.24M | ﹤0.01% |
26,471
+2,561
| +11% | +$118K |
|
3849
Cushman & Wakefield Ltd
CWK
$3.12B
| $1.24M | ﹤0.01% |
76,420
+31,441
| +70% | +$498K |
|
3850
Westamerica Bancorp
WABC
$1.35B
| $1.24M | ﹤0.01% |
25,858
+3,297
| +15% | +$158K |
|
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.