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 | |
|---|---|---|---|---|---|---|
4451
PUT
Visa
V
$672B
| $666K | ﹤0.01% |
1,900
-900
| -32% | -$307K |
|
4452
Xeris Biopharma Holdings
XERS
$1.46B
| $666K | ﹤0.01% |
84,861
+51,559
| +155% | +$406K |
|
4453
Innovator International Developed Power Buffer ETF November
INOV
$37.9M
| $666K | ﹤0.01% |
+19,284
| New | +$651K |
|
4454
Par Pacific Holdings
PARR
$3.63B
| $666K | ﹤0.01% |
+18,950
| New | +$753K |
|
|
CGAU
4455
Centerra Gold
CGAU
$4.14B
| $665K | ﹤0.01% |
46,265
+31,127
| +206% | +$390K |
|
4456
Innovator US Equity Accelerated 9 Buffer ETF July
XBJL
$75.6M
| $664K | ﹤0.01% |
17,367
-4,095
| -19% | -$154K |
|
|
DEA
4457
Easterly Government Properties
DEA
$1.13B
| $664K | ﹤0.01% |
31,339
-612
| -2% | -$13.3K |
|
4458
Cosan
CSAN
$2.77B
| $664K | ﹤0.01% |
+167,996
| New | +$765K |
|
4459
FormFactor
FORM
$8.94B
| $664K | ﹤0.01% |
11,895
-1,582
| -12% | -$79.7K |
|
4460
Trevi Therapeutics
TRVI
$2.57B
| $663K | ﹤0.01% |
52,960
+12,510
| +31% | +$145K |
|
4461
State Street SPDR Dow Jones International Real Estate ETF
RWX
$267M
| $663K | ﹤0.01% |
23,676
-44,366
| -65% | -$1.23M |
|
4462
Aquestive Therapeutics
AQST
$560M
| $661K | ﹤0.01% |
102,388
+12,500
| +14% | +$77.9K |
|
4463
Invesco Golden Dragon China ETF
PGJ
$99.6M
| $661K | ﹤0.01% |
22,948
+10,078
| +78% | +$311K |
|
4464
Community Health Systems
CYH
$409M
| $660K | ﹤0.01% |
211,431
-30,758
| -13% | -$103K |
|
4465
LiveRamp
RAMP
$2.3B
| $659K | ﹤0.01% |
22,442
+2,066
| +10% | +$59.3K |
|
|
JAJL
4466
Innovator Equity Defined Protection ETF - 6mo Jan/Jul
JAJL
$274M
| $659K | ﹤0.01% |
22,675
+3,688
| +19% | +$106K |
|
4467
Strive 1000 Growth ETF
STXG
$153M
| $657K | ﹤0.01% |
12,918
| – | – |
|
4468
Simmons First National
SFNC
$3.38B
| $657K | ﹤0.01% |
34,869
-24,036
| -41% | -$445K |
|
4469
Electromed
ELMD
$352M
| $657K | ﹤0.01% |
+22,561
| New | +$591K |
|
4470
Telkom Indonesia
TLK
$14.7B
| $657K | ﹤0.01% |
31,210
+5,375
| +21% | +$110K |
|
4471
FTI Consulting
FCN
$4.17B
| $656K | ﹤0.01% |
3,838
+501
| +15% | +$82.6K |
|
4472
Pacer Swan SOS Flex January ETF
PSFD
$60M
| $655K | ﹤0.01% |
17,533
-794
| -4% | -$29.2K |
|
4473
PUT
Arista Networks
ANET
$241B
| $655K | ﹤0.01% |
5,000
| – | – |
|
4474
PUT
eBay
EBAY
$48B
| $653K | ﹤0.01% |
7,500
-1,500
| -17% | -$130K |
|
4475
BlackBerry
BB
$5.28B
| $653K | ﹤0.01% |
172,335
-17,354
| -9% | -$76.3K |
|
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.