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 | |
|---|---|---|---|---|---|---|
4501
LendingTree
TREE
$450M
| $634K | ﹤0.01% |
11,942
-1,797
| -13% | -$101K |
|
4502
FlexShares Disciplined Duration MBS Index Fund
MBSD
$88.7M
| $634K | ﹤0.01% |
30,497
+7,114
| +30% | +$148K |
|
4503
Belden
BDC
$5.23B
| $632K | ﹤0.01% |
5,422
+404
| +8% | +$47.1K |
|
4504
Nuveen ESG Large-Cap ETF
NULC
$73.1M
| $631K | ﹤0.01% |
13,190
-1,842
| -12% | -$95.2K |
|
|
NVO
4505
CALL
Novo Nordisk
NVO
$208B
| $631K | ﹤0.01% |
12,400
+7,100
| +134% | +$363K |
|
|
RAL
4506
Ralliant Corp
RAL
$7.69B
| $630K | ﹤0.01% |
12,381
-2,916
| -19% | -$137K |
|
4507
ALPS Clean Energy ETF
ACES
$122M
| $629K | ﹤0.01% |
19,416
-3,847
| -17% | -$130K |
|
|
DRD
4508
DRDGold
DRD
$2.04B
| $628K | ﹤0.01% |
20,246
+8,206
| +68% | +$234K |
|
4509
Kohl's
KSS
$2.17B
| $628K | ﹤0.01% |
30,758
-3,716
| -11% | -$69.6K |
|
4510
Box
BOX
$4.65B
| $628K | ﹤0.01% |
20,981
-1,149
| -5% | -$36K |
|
|
ACLX
4511
DELISTED
Arcellx
ACLX
| $627K | ﹤0.01% |
9,622
-399
| -4% | -$31.8K |
|
|
NREF
4512
NexPoint Real Estate Finance
NREF
$330M
| $627K | ﹤0.01% |
44,538
+7,961
| +22% | +$111K |
|
|
IAUX
4513
i-80 Gold Corp
IAUX
$1.45B
| $627K | ﹤0.01% |
429,440
+13,000
| +3% | +$14.8K |
|
|
CSR
4514
Centerspace
CSR
$929M
| $626K | ﹤0.01% |
9,382
+3,401
| +57% | +$214K |
|
4515
Crescent Energy
CRGY
$3.99B
| $624K | ﹤0.01% |
74,404
+38,631
| +108% | +$339K |
|
4516
Telephone and Data Systems
TDS
$3.76B
| $624K | ﹤0.01% |
15,208
-26,161
| -63% | -$1.02M |
|
4517
Nuveen Massachusetts Quality Municipal Income Fund
NMT
$129M
| $623K | ﹤0.01% |
54,959
+23,780
| +76% | +$274K |
|
4518
AvePoint
AVPT
$2.74B
| $622K | ﹤0.01% |
44,776
-7,893
| -15% | -$109K |
|
|
MYCJ
4519
State Street My2030 Corporate Bond ETF
MYCJ
$46.5M
| $622K | ﹤0.01% |
24,856
+4,318
| +21% | +$108K |
|
4520
Regan Floating Rate MBS ETF
MBSF
$242M
| $622K | ﹤0.01% |
+24,240
| New | +$620K |
|
4521
Minerals Technologies
MTX
$2.32B
| $621K | ﹤0.01% |
10,196
+495
| +5% | +$29.3K |
|
|
RNAM
4522
DELISTED
Avidity Biosciences
RNAM
| $621K | ﹤0.01% |
8,614
-8,778
| -50% | -$567K |
|
4523
Kforce
KFRC
$1.05B
| $621K | ﹤0.01% |
20,084
-89
| -0.4% | -$2.62K |
|
4524
SGI US Large Cap Core ETF
SGLC
$231M
| $621K | ﹤0.01% |
16,179
-4,797
| -23% | -$179K |
|
4525
Four Corners Property Trust
FCPT
$2.7B
| $619K | ﹤0.01% |
26,849
-788
| -3% | -$18.8K |
|
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.