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 | |
|---|---|---|---|---|---|---|
576
First Trust North American Energy Infrastructure Fund
EMLP
$4.08B
| $93.4M | 0.03% |
2,467,501
-39,392
| -2% | -$1.5M |
|
577
Invesco Dividend Achievers ETF
PFM
$808M
| $93.2M | 0.03% |
1,810,292
-15,773
| -0.9% | -$808K |
|
578
Hershey
HSY
$36.6B
| $93.2M | 0.03% |
512,173
+16,564
| +3% | +$3.03M |
|
579
Alibaba
BABA
$308B
| $93.1M | 0.03% |
635,179
+8,922
| +1% | +$1.45M |
|
580
Nike
NKE
$61.9B
| $92.8M | 0.03% |
1,456,225
-56,307
| -4% | -$3.67M |
|
581
First Trust Active Factor Large Cap ETF
AFLG
$733M
| $92.7M | 0.03% |
2,371,161
+302,006
| +15% | +$11.8M |
|
582
Consolidated Edison
ED
$39.9B
| $92.6M | 0.03% |
932,679
+164,882
| +21% | +$16.4M |
|
583
Prudential Financial
PRU
$41.8B
| $92.3M | 0.03% |
818,119
+48,736
| +6% | +$5.23M |
|
584
L3Harris
LHX
$53.4B
| $91.7M | 0.03% |
312,502
+13,244
| +4% | +$3.83M |
|
585
AB Tax-Aware Short Duration Municipal ETF
TAFI
$1.38B
| $91.4M | 0.03% |
3,625,398
+355,926
| +11% | +$8.99M |
|
586
First Trust Senior Loan Fund ETF
FTSL
$2.33B
| $91.3M | 0.02% |
1,990,621
-46,564
| -2% | -$2.13M |
|
587
AllianzIM U.S. Equity Buffer20 Oct ETF
OCTW
$324M
| $91.3M | 0.02% |
2,340,821
+524,474
| +29% | +$20.2M |
|
588
Virtus Reaves Utilities ETF
UTES
$1.31B
| $91.1M | 0.02% |
1,153,353
+292,337
| +34% | +$24.1M |
|
589
Booking.com
BKNG
$161B
| $90.9M | 0.02% |
424,500
+16,600
| +4% | +$3.42M |
|
590
iShares U.S. Carbon Transition Readiness Aware Active ETF
LCTU
$1.26B
| $90.7M | 0.02% |
1,223,595
+43,128
| +4% | +$3.17M |
|
591
ActivePassive US Equity ETF
APUE
$2.51B
| $90.5M | 0.02% |
2,172,424
-205,667
| -9% | -$8.51M |
|
592
Global X Robotics & Artificial Intelligence ETF
BOTZ
$3.51B
| $90.4M | 0.02% |
2,495,832
+231,067
| +10% | +$8.38M |
|
|
CGIC
593
Capital Group International Core Equity ETF
CGIC
$2.31B
| $90.3M | 0.02% |
2,778,105
+1,363,726
| +96% | +$43M |
|
|
BNY
594
Bank of New York Mellon
BNY
$107B
| $90.3M | 0.02% |
777,720
-124,128
| -14% | -$13.7M |
|
595
Snowflake
SNOW
$115B
| $89.9M | 0.02% |
410,004
+41,320
| +11% | +$10.1M |
|
596
JPMorgan Equity Focus ETF
JPEF
$2.05B
| $89.9M | 0.02% |
1,203,838
+22,969
| +2% | +$1.72M |
|
597
Motley Fool 100 Index ETF
TMFC
$2.13B
| $89.9M | 0.02% |
1,252,614
+50,326
| +4% | +$3.59M |
|
|
GARP
598
iShares MSCI USA Quality GARP ETF
GARP
$2.75B
| $89.6M | 0.02% |
1,315,966
+299,858
| +30% | +$20.2M |
|
599
BlackRock ETF Trust II iShares AAA CLO Active ETF
CLOA
$2.18B
| $89.6M | 0.02% |
1,731,327
+197,443
| +13% | +$10.2M |
|
600
State Street SPDR S&P 400 Mid Cap Value ETF
MDYV
$2.83B
| $89.2M | 0.02% |
1,053,654
+12,720
| +1% | +$1.06M |
|
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.