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 | |
|---|---|---|---|---|---|---|
601
Invesco S&P 500 Equal Weight Technology ETF
RSPT
$5.87B
| $89.2M | 0.02% |
1,959,772
-41,313
| -2% | -$1.87M |
|
602
State Street SPDR Portfolio Corporate Bond ETF
SPBO
$2.1B
| $88.9M | 0.02% |
3,029,120
+100,339
| +3% | +$2.96M |
|
603
JPMorgan Global Select Equity ETF
JGLO
$6.87B
| $88.5M | 0.02% |
1,308,376
-91,131
| -7% | -$6.18M |
|
604
Newmont
NEM
$119B
| $88.2M | 0.02% |
883,206
+95,363
| +12% | +$8.62M |
|
605
Mondelez International
MDLZ
$79.9B
| $88.2M | 0.02% |
1,638,127
-160,583
| -9% | -$9.25M |
|
606
Sanofi
SNY
$104B
| $87.8M | 0.02% |
1,812,118
+68,801
| +4% | +$3.41M |
|
607
Spotify
SPOT
$100B
| $87.7M | 0.02% |
151,047
-1,204
| -0.8% | -$753K |
|
608
Unilever
UL
$136B
| $87.4M | 0.02% |
1,336,926
+408,207
| +44% | +$27.4M |
|
609
Goldman Sachs Access Investment Grade Corporate Bond ETF
GIGB
$973M
| $87.4M | 0.02% |
1,888,656
+77,734
| +4% | +$3.62M |
|
610
Cardinal Health
CAH
$55.4B
| $87.3M | 0.02% |
424,722
+1,042
| +0.2% | +$196K |
|
|
CGGE
611
Capital Group Global Equity ETF
CGGE
$3.04B
| $86.7M | 0.02% |
2,741,720
+826,247
| +43% | +$25.8M |
|
612
Vanguard Industrials ETF
VIS
$8.39B
| $86.6M | 0.02% |
290,243
+6,296
| +2% | +$1.87M |
|
613
iShares MSCI Japan ETF
EWJ
$23B
| $86.6M | 0.02% |
1,072,608
+313,511
| +41% | +$25.8M |
|
614
Invesco AAA CLO Floating Rate Note ETF
ICLO
$526M
| $86.5M | 0.02% |
3,384,749
+939,632
| +38% | +$24M |
|
615
KKR & Co
KKR
$92.3B
| $86.5M | 0.02% |
678,261
-88,007
| -11% | -$10.9M |
|
616
PIMCO Dynamic Income Fund
PDI
$7.42B
| $86.3M | 0.02% |
4,874,023
-49,114
| -1% | -$901K |
|
617
First Trust Large Cap Value AlphaDEX Fund
FTA
$1.4B
| $86.3M | 0.02% |
1,001,829
+77,963
| +8% | +$6.57M |
|
618
TE Connectivity
TEL
$62.6B
| $86.2M | 0.02% |
378,954
-160
| -0% | -$37K |
|
619
Invesco RAFI Strategic US ETF
IUS
$947M
| $86.2M | 0.02% |
1,507,912
-9,249
| -0.6% | -$521K |
|
620
Invesco BulletShares 2030 Corporate Bond ETF
BSCU
$2.67B
| $85.8M | 0.02% |
5,068,013
+1,673,174
| +49% | +$28.3M |
|
621
State Street SPDR S&P 1500 Value Tilt ETF
VLU
$771M
| $85.6M | 0.02% |
406,592
+31,663
| +8% | +$6.55M |
|
|
CGMM
622
Capital Group U.S. Small and Mid Cap ETF
CGMM
$3.26B
| $85.2M | 0.02% |
2,955,064
+967,841
| +49% | +$27.5M |
|
623
iShares MSCI China ETF
MCHI
$6.38B
| $85.2M | 0.02% |
1,418,246
+53,506
| +4% | +$3.37M |
|
624
WisdomTree India Earnings Fund ETF
EPI
$2.06B
| $85.2M | 0.02% |
1,840,160
+13,750
| +0.8% | +$630K |
|
625
Ares Capital
ARCC
$14.4B
| $85.2M | 0.02% |
4,210,365
+144,434
| +4% | +$2.91M |
|
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.