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 | |
|---|---|---|---|---|---|---|
501
Comcast
CMCSA
$90B
| $113M | 0.03% |
3,773,599
-460,610
| -11% | -$13.1M |
|
502
Travelers Companies
TRV
$80.2B
| $112M | 0.03% |
387,591
+18,638
| +5% | +$5.25M |
|
503
Cadence Design Systems
CDNS
$93.4B
| $112M | 0.03% |
359,062
+34,913
| +11% | +$11.4M |
|
504
Schwab Fundamental International Large Company Index ETF
FNDF
$25.5B
| $112M | 0.03% |
2,481,686
+198,788
| +9% | +$8.8M |
|
505
iShares Investment Grade Systematic Bond ETF
IGEB
$1.46B
| $111M | 0.03% |
2,422,630
+133,852
| +6% | +$6.14M |
|
506
iShares International Select Dividend ETF
IDV
$8.51B
| $111M | 0.03% |
2,801,663
+271,920
| +11% | +$10.3M |
|
507
FedEx
FDX
$75.4B
| $110M | 0.03% |
382,375
-11,912
| -3% | -$3.13M |
|
508
First Trust Large Cap Growth AlphaDEX Fund
FTC
$1.38B
| $110M | 0.03% |
690,775
-12,373
| -2% | -$1.98M |
|
509
iShares Short-Term National Muni Bond ETF
SUB
$11.4B
| $110M | 0.03% |
1,033,462
+105,119
| +11% | +$11.2M |
|
510
Dimensional International Value ETF
DFIV
$21.6B
| $110M | 0.03% |
2,206,395
+196,370
| +10% | +$9.33M |
|
511
Fidelity Nasdaq Composite Index ETF
ONEQ
$10.9B
| $110M | 0.03% |
1,201,414
+86,467
| +8% | +$7.87M |
|
512
Invesco Equal Weight 0-30 Year Treasury ETF
GOVI
$1.23B
| $109M | 0.03% |
3,953,092
-767,500
| -16% | -$21.4M |
|
513
Aflac
AFL
$62.6B
| $108M | 0.03% |
981,725
+4,947
| +0.5% | +$545K |
|
514
CME Group
CME
$94.8B
| $107M | 0.03% |
393,382
+144,577
| +58% | +$39.3M |
|
515
T-Mobile US
TMUS
$190B
| $107M | 0.03% |
528,688
-13,398
| -2% | -$2.84M |
|
516
Franklin Income Focus ETF
INCM
$1.74B
| $107M | 0.03% |
3,821,161
+1,096,264
| +40% | +$30.6M |
|
517
VanEck CLO ETF
CLOI
$1.51B
| $107M | 0.03% |
2,027,584
+419,749
| +26% | +$22.2M |
|
518
State Street SPDR S&P Biotech ETF
XBI
$10.3B
| $107M | 0.03% |
875,547
+193,464
| +28% | +$22.2M |
|
519
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
MUNI
$3.09B
| $106M | 0.03% |
2,025,038
+286,613
| +16% | +$15M |
|
520
AstraZeneca
AZN
$250B
| $106M | 0.03% |
576,436
+42,174
| +8% | +$7.4M |
|
521
FT Vest Laddered Moderate Buffer ETF
BUFZ
$1.02B
| $106M | 0.03% |
3,993,430
+837,905
| +27% | +$21.9M |
|
522
WisdomTree Emerging Markets High Dividend Fund
DEM
$3.98B
| $106M | 0.03% |
2,265,496
-301,069
| -12% | -$13.9M |
|
523
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.3B
| $105M | 0.03% |
174,446
+1,981
| +1% | +$1.19M |
|
524
iShares S&P Mid-Cap 400 Value ETF
IJJ
$8.97B
| $105M | 0.03% |
798,608
+10,175
| +1% | +$1.32M |
|
525
AB High Yield ETF
HYFI
$331M
| $105M | 0.03% |
2,794,927
+416,410
| +18% | +$15.7M |
|
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.