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 | |
|---|---|---|---|---|---|---|
|
QVMS
4151
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$255M
| $922K | ﹤0.01% |
32,656
+614
| +2% | +$17.3K |
|
|
MSB
4152
Mesabi Trust
MSB
$306M
| $921K | ﹤0.01% |
23,905
+244
| +1% | +$8.26K |
|
4153
Patria Investments
PAX
$1.81B
| $920K | ﹤0.01% |
57,910
-1,495
| -3% | -$22.4K |
|
4154
RH Tactical Rotation ETF
RHRX
$41M
| $920K | ﹤0.01% |
49,998
+1,313
| +3% | +$24K |
|
4155
Diodes
DIOD
$4.65B
| $919K | ﹤0.01% |
18,632
-28,426
| -60% | -$1.44M |
|
4156
Innovator US Equity Ultra Buffer ETF September
USEP
$145M
| $918K | ﹤0.01% |
23,343
-299
| -1% | -$11.6K |
|
|
NFEB
4157
Innovator Growth-100 Power Buffer ETF - February
NFEB
$84.2M
| $917K | ﹤0.01% |
32,736
-4,493
| -12% | -$124K |
|
4158
Peloton Interactive
PTON
$2.42B
| $917K | ﹤0.01% |
148,894
-56,350
| -27% | -$397K |
|
4159
GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF
COMB
$151M
| $917K | ﹤0.01% |
43,428
+20,351
| +88% | +$458K |
|
4160
Strive Emerging Markets ex-China ETF
STXE
$138M
| $917K | ﹤0.01% |
25,523
+1,104
| +5% | +$38.3K |
|
4161
PACS Group
PACS
$7.67B
| $914K | ﹤0.01% |
+23,814
| New | +$522K |
|
4162
Maximus
MMS
$2.9B
| $914K | ﹤0.01% |
10,588
+809
| +8% | +$69.2K |
|
4163
Silgan Holdings
SLGN
$4.35B
| $914K | ﹤0.01% |
22,638
-1,643
| -7% | -$66.7K |
|
4164
Avantis All Equity Markets Value ETF
AVGV
$440M
| $914K | ﹤0.01% |
12,485
+6,693
| +116% | +$478K |
|
4165
StoneCo
STNE
$2.52B
| $913K | ﹤0.01% |
61,756
-222,130
| -78% | -$3.71M |
|
4166
State Street SPDR S&P China ETF
GXC
$486M
| $912K | ﹤0.01% |
9,424
-749
| -7% | -$75.6K |
|
4167
FirstService
FSV
$6.27B
| $910K | ﹤0.01% |
5,849
-1,935
| -25% | -$315K |
|
4168
Certara
CERT
$1.23B
| $910K | ﹤0.01% |
103,242
+207
| +0.2% | +$2.13K |
|
4169
Materion
MTRN
$5.83B
| $908K | ﹤0.01% |
7,304
+2,980
| +69% | +$367K |
|
4170
Invesco Municipal Income Opportunities Trust
OIA
$290M
| $907K | ﹤0.01% |
150,921
-3,208
| -2% | -$19.3K |
|
4171
ImmunityBio
IBRX
$7.94B
| $907K | ﹤0.01% |
458,059
-161,231
| -26% | -$365K |
|
4172
Franklin FTSE Europe ETF
FLEE
$120M
| $907K | ﹤0.01% |
24,818
+1,952
| +9% | +$69.5K |
|
4173
Schrodinger
SDGR
$1.4B
| $907K | ﹤0.01% |
50,709
-199
| -0.4% | -$3.77K |
|
4174
Astoria US Quality Kings ETF
ROE
$279M
| $906K | ﹤0.01% |
25,679
+348
| +1% | +$12.1K |
|
4175
Amprius Technologies
AMPX
$1.73B
| $905K | ﹤0.01% |
114,706
-50,687
| -31% | -$579K |
|
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.