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 | |
|---|---|---|---|---|---|---|
376
NEOS S&P 500 High Income ETF
SPYI
$11.3B
| $165M | 0.05% |
3,139,873
+839,220
| +36% | +$44.1M |
|
377
First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF
HYLS
$1.63B
| $165M | 0.05% |
3,937,904
+335,843
| +9% | +$14M |
|
378
Intuit
INTU
$89B
| $163M | 0.04% |
245,971
+3,159
| +1% | +$2.09M |
|
379
Boston Scientific
BSX
$71.5B
| $163M | 0.04% |
1,705,827
+34,717
| +2% | +$3.4M |
|
380
Franklin US Mid Cap Multifactor Index ETF
FLQM
$1.61B
| $162M | 0.04% |
2,883,203
-207,300
| -7% | -$11.6M |
|
381
Capital Group Short Duration Income ETF
CGSD
$2.4B
| $162M | 0.04% |
6,235,706
+1,145,248
| +22% | +$29.8M |
|
382
iShares MSCI KLD 400 Social ETF
DSI
$5.55B
| $162M | 0.04% |
1,258,765
+45,080
| +4% | +$5.76M |
|
383
Fidelity Enhanced Small Cap Core ETF
FESM
$6.23B
| $162M | 0.04% |
4,286,386
+1,713,064
| +67% | +$63.9M |
|
384
State Street SPDR S&P 400 Mid Cap Growth ETF
MDYG
$2.95B
| $162M | 0.04% |
1,750,018
-25,017
| -1% | -$2.3M |
|
385
State Street Real Estate Select Sector SPDR ETF
XLRE
$8.59B
| $162M | 0.04% |
4,008,018
-171,025
| -4% | -$7.04M |
|
386
Vanguard Total World Stock ETF
VT
$79.8B
| $161M | 0.04% |
1,143,205
+108,304
| +10% | +$15.1M |
|
387
Chubb
CB
$135B
| $160M | 0.04% |
514,013
-17,100
| -3% | -$5M |
|
388
iShares Expanded Tech-Software Sector ETF
IGV
$14.5B
| $160M | 0.04% |
1,515,598
-345,431
| -19% | -$38M |
|
389
Prologis
PLD
$133B
| $158M | 0.04% |
1,241,418
+38,418
| +3% | +$4.79M |
|
390
State Street Blackstone Senior Loan ETF
SRLN
$5.34B
| $158M | 0.04% |
3,837,057
+154,173
| +4% | +$6.36M |
|
391
Pacer US Small Cap Cash Cows 100 ETF
CALF
$3.82B
| $158M | 0.04% |
3,566,757
-347,079
| -9% | -$15.3M |
|
392
iMGP DBi Managed Futures Strategy ETF
DBMF
$4.13B
| $158M | 0.04% |
5,637,634
+355,157
| +7% | +$10.1M |
|
393
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23B
| $158M | 0.04% |
2,988,039
+424,481
| +17% | +$22.5M |
|
394
AB Ultra Short Income ETF
YEAR
$1.51B
| $158M | 0.04% |
3,128,607
-404,918
| -11% | -$20.5M |
|
395
Emerson Electric
EMR
$88.3B
| $157M | 0.04% |
1,183,268
-9,289
| -0.8% | -$1.23M |
|
396
US Bancorp
USB
$99.6B
| $157M | 0.04% |
2,941,317
+39,117
| +1% | +$1.92M |
|
397
Innovator Equity Managed Floor ETF
SFLR
$2.15B
| $157M | 0.04% |
4,257,434
+601,796
| +16% | +$22M |
|
398
KLA
KLAC
$259B
| $157M | 0.04% |
1,288,780
+2,850
| +0.2% | +$334K |
|
399
Invesco S&P SmallCap Momentum ETF
XSMO
$3.1B
| $156M | 0.04% |
2,171,515
+66,942
| +3% | +$4.87M |
|
400
Fidelity MSCI Information Technology Index ETF
FTEC
$21.3B
| $156M | 0.04% |
694,702
+85,840
| +14% | +$19.4M |
|
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.