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 | |
|---|---|---|---|---|---|---|
5376
Clearfield
CLFD
$374M
| $225K | ﹤0.01% |
7,717
-4,500
| -37% | -$145K |
|
|
AGGS
5377
Harbor Disciplined Bond ETF
AGGS
$39.3M
| $225K | ﹤0.01% |
5,456
-1,211
| -18% | -$50.5K |
|
5378
Chefs' Warehouse
CHEF
$4.5B
| $225K | ﹤0.01% |
3,603
+63
| +2% | +$3.79K |
|
5379
PUT
IonQ
IONQ
$16.6B
| $224K | ﹤0.01% |
5,000
| – | – |
|
5380
ProShares Ultra Semiconductors
USD
$2.95B
| $224K | ﹤0.01% |
4,261
+149
| +4% | +$7.92K |
|
5381
CryoPort
CYRX
$762M
| $224K | ﹤0.01% |
23,306
+1,433
| +7% | +$13.5K |
|
|
RFMZ
5382
RiverNorth Flexible Municipal Income Fund II
RFMZ
$322M
| $223K | ﹤0.01% |
17,632
-2,000
| -10% | -$25.9K |
|
5383
Geospace Technologies
GEOS
$75.7M
| $223K | ﹤0.01% |
+13,200
| New | +$265K |
|
|
DVLT
5384
Datavault AI
DVLT
$263M
| $223K | ﹤0.01% |
+347,077
| New | +$607K |
|
5385
Fidelity Magellan ETF
FMAG
$255M
| $222K | ﹤0.01% |
+6,518
| New | +$225K |
|
5386
Five Star Bancorp
FSBC
$1.13B
| $222K | ﹤0.01% |
6,211
-600
| -9% | -$20.8K |
|
5387
NovaGold Resources
NG
$3.33B
| $222K | ﹤0.01% |
23,779
-2,645
| -10% | -$24.5K |
|
5388
CALL
Palo Alto Networks
PANW
$297B
| $221K | ﹤0.01% |
+1,200
| New | +$242K |
|
5389
Neuberger Disrupters ETF
NBDS
$153M
| $219K | ﹤0.01% |
6,188
-481
| -7% | -$17.5K |
|
5390
IBEX
IBEX
$499M
| $219K | ﹤0.01% |
5,745
+699
| +14% | +$25.9K |
|
5391
Progress Software
PRGS
$1.76B
| $219K | ﹤0.01% |
+5,105
| New | +$223K |
|
|
ELVA
5392
Electrovaya
ELVA
$481M
| $219K | ﹤0.01% |
+27,734
| New | +$168K |
|
|
BLDP
5393
Ballard Power Systems
BLDP
$790M
| $219K | ﹤0.01% |
86,133
+2,080
| +2% | +$6.45K |
|
5394
Ziff Davis
ZD
$1.98B
| $218K | ﹤0.01% |
6,193
-3,129
| -34% | -$109K |
|
5395
Vishay Intertechnology
VSH
$5.43B
| $216K | ﹤0.01% |
14,924
-1,537
| -9% | -$23.3K |
|
5396
Liberty Broadband Class A
LBRDA
$5.16B
| $215K | ﹤0.01% |
4,461
-827
| -16% | -$42.8K |
|
5397
Amalgamated Financial
AMAL
$1.49B
| $215K | ﹤0.01% |
+6,715
| New | +$195K |
|
5398
PUT
VanEck Gold Miners ETF
GDX
$27.4B
| $214K | ﹤0.01% |
2,500
-5,800
| -70% | -$458K |
|
|
AAT
5399
American Assets Trust
AAT
$1.4B
| $214K | ﹤0.01% |
+11,318
| New | +$218K |
|
5400
DoubleLine Commercial Real Estate Debt ETF
DCRE
$458M
| $214K | ﹤0.01% |
4,118
-204
| -5% | -$10.6K |
|
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.