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 | |
|---|---|---|---|---|---|---|
|
FLXR
551
TCW Flexible Income ETF
FLXR
$3.48B
| $99M | 0.03% |
2,498,998
+302,239
| +14% | +$12M |
|
552
Marvell Technology
MRVL
$196B
| $98.9M | 0.03% |
1,163,591
+17,879
| +2% | +$1.57M |
|
553
Intel
INTC
$513B
| $98.5M | 0.03% |
2,669,919
+60,068
| +2% | +$2.27M |
|
554
JPMorgan BetaBuilders US Aggregate Bond ETF
BBAG
$1B
| $98.2M | 0.03% |
2,116,045
-1,562,805
| -42% | -$72.9M |
|
555
Air Products & Chemicals
APD
$67.6B
| $98.2M | 0.03% |
397,468
-1,095
| -0.3% | -$278K |
|
|
EVMO
556
Eaton Vance Mortgage Opportunities ETF
EVMO
$863M
| $98.2M | 0.03% |
1,935,015
+259,730
| +16% | +$13.2M |
|
557
iShares US Healthcare ETF
IYH
$3.54B
| $98.1M | 0.03% |
1,506,483
+111,239
| +8% | +$7.02M |
|
558
iShares iBonds Dec 2026 Term Corporate ETF
IBDR
$3.4B
| $98.1M | 0.03% |
4,047,513
+634,858
| +19% | +$15.4M |
|
559
Vanguard Consumer Discretionary ETF
VCR
$6.33B
| $97.9M | 0.03% |
248,558
-2,332
| -0.9% | -$912K |
|
560
Kimberly-Clark
KMB
$36.5B
| $97.8M | 0.03% |
969,728
+133,107
| +16% | +$14.6M |
|
561
Dell
DELL
$293B
| $97.8M | 0.03% |
776,582
+12,636
| +2% | +$1.78M |
|
562
First Trust Nasdaq-100 Select Equal Weight ETF
QQEW
$1.82B
| $97.7M | 0.03% |
687,617
+11,494
| +2% | +$1.63M |
|
563
Cencora
COR
$61.2B
| $97.6M | 0.03% |
288,976
+23,865
| +9% | +$8.14M |
|
564
First Trust Technology AlphaDEX Fund
FXL
$2.79B
| $97M | 0.03% |
576,568
+21,861
| +4% | +$3.7M |
|
|
SCHV
565
Schwab US Large-Cap Value ETF
SCHV
$16.1B
| $96.3M | 0.03% |
3,251,539
-529,558
| -14% | -$15.5M |
|
566
TotalEnergies
TTE
$190B
| $96.1M | 0.03% |
1,469,691
+32,425
| +2% | +$2.05M |
|
567
Principal Exchange-Traded Funds Principal US Mega-Cap ETF
USMC
$3.68B
| $96.1M | 0.03% |
1,404,127
+87,122
| +7% | +$5.96M |
|
568
Nuveen ESG Large-Cap Growth ETF
NULG
$2.78B
| $95M | 0.03% |
971,536
+115,242
| +13% | +$11.4M |
|
569
State Street Materials Select Sector SPDR ETF
XLB
$8.66B
| $94.9M | 0.03% |
2,093,364
+76,036
| +4% | +$3.36M |
|
570
Trane Technologies
TT
$106B
| $94.9M | 0.03% |
243,796
+407
| +0.2% | +$168K |
|
571
iShares US Medical Devices ETF
IHI
$3.38B
| $94.3M | 0.03% |
1,516,647
-10,690
| -0.7% | -$660K |
|
572
American Tower
AMT
$80.4B
| $93.9M | 0.03% |
534,799
-27,708
| -5% | -$5.04M |
|
573
Public Service Enterprise Group
PEG
$37.7B
| $93.7M | 0.03% |
1,167,475
-31,747
| -3% | -$2.59M |
|
574
Strategy Inc
MSTR
$38.4B
| $93.6M | 0.03% |
615,877
-27,681
| -4% | -$6.37M |
|
575
First Trust Intermediate Duration Investment Grade Corporate ETF
FIIG
$649M
| $93.5M | 0.03% |
4,410,462
+609,714
| +16% | +$13M |
|
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.