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 | |
|---|---|---|---|---|---|---|
|
SYSB
651
iShares Systematic Bond ETF
SYSB
$1.17B
| $79.7M | 0.02% |
887,775
+881,173
| +13,347% | +$79.3M |
|
652
Norfolk Southern
NSC
$75.1B
| $79.6M | 0.02% |
275,614
+544
| +0.2% | +$157K |
|
653
Healthpeak Properties
DOC
$14.8B
| $79.4M | 0.02% |
4,940,167
+154,224
| +3% | +$2.72M |
|
654
iShares US Home Construction ETF
ITB
$2.35B
| $79.2M | 0.02% |
822,488
+61,688
| +8% | +$6.23M |
|
655
iShares US Financials ETF
IYF
$4.61B
| $79.2M | 0.02% |
614,253
-95,369
| -13% | -$11.9M |
|
656
Rockwell Automation
ROK
$49B
| $78.9M | 0.02% |
202,825
+20,569
| +11% | +$7.73M |
|
657
iShares iBonds Dec 2027 Term Corporate ETF
IBDS
$3.85B
| $78.9M | 0.02% |
3,248,280
+383,068
| +13% | +$9.31M |
|
658
Global X MLP & Energy Infrastructure ETF
MLPX
$3.53B
| $78.4M | 0.02% |
1,295,015
-19,885
| -2% | -$1.19M |
|
659
State Street SPDR S&P Semiconductor ETF
XSD
$3.04B
| $78.4M | 0.02% |
243,655
+11,229
| +5% | +$3.71M |
|
660
abrdn Physical Precious Metals Basket Shares ETF
GLTR
$2.67B
| $78.3M | 0.02% |
380,713
+107,963
| +40% | +$19.8M |
|
661
Natixis Loomis Sayles Focused Growth ETF
LSGR
$897M
| $78.2M | 0.02% |
1,746,022
+373,412
| +27% | +$16.6M |
|
662
Flex
FLEX
$44.8B
| $78.1M | 0.02% |
1,292,336
-212,805
| -14% | -$13.1M |
|
663
GSK
GSK
$106B
| $77.6M | 0.02% |
1,582,143
-89,285
| -5% | -$4.16M |
|
664
iShares MSCI EAFE Min Vol Factor ETF
EFAV
$5.51B
| $77.4M | 0.02% |
897,574
-87,988
| -9% | -$7.52M |
|
665
Virtus InfraCap US Preferred Stock ETF
PFFA
$2.48B
| $77.1M | 0.02% |
3,578,645
+144,207
| +4% | +$3.11M |
|
666
First Trust Utilities AlphaDEX Fund
FXU
$825M
| $76.8M | 0.02% |
1,707,256
+134,092
| +9% | +$6.18M |
|
667
iShares MSCI Global Gold Miners ETF
RING
$2.56B
| $76.8M | 0.02% |
1,043,494
+97,236
| +10% | +$6.56M |
|
668
Monster Beverage
MNST
$88.5B
| $76.8M | 0.02% |
1,002,132
+44,679
| +5% | +$3.2M |
|
669
Sprott Physical Gold
PHYS
$15.7B
| $76.6M | 0.02% |
2,320,705
+389,187
| +20% | +$12.3M |
|
670
iShares AAA-A Rated Corporate Bond ETF
QLTA
$1.23B
| $76.6M | 0.02% |
1,592,052
-424,581
| -21% | -$20.6M |
|
671
Invesco S&P MidCap 400 Revenue ETF
RWK
$1.34B
| $76.3M | 0.02% |
603,545
+18,274
| +3% | +$2.29M |
|
|
CGHM
672
Capital Group Municipal High-Income ETF
CGHM
$3.25B
| $75.9M | 0.02% |
2,976,899
+1,027,974
| +53% | +$26.2M |
|
673
First Trust US Equity Opportunities ETF
FPX
$1.51B
| $75.7M | 0.02% |
462,771
-23,360
| -5% | -$3.84M |
|
674
Cheniere Energy
LNG
$52.9B
| $75.6M | 0.02% |
389,165
-27,201
| -7% | -$5.71M |
|
675
iShares ESG Aware MSCI EAFE ETF
ESGD
$12.3B
| $75.6M | 0.02% |
795,195
+9,474
| +1% | +$893K |
|
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.