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 | |
|---|---|---|---|---|---|---|
701
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.9B
| $72M | 0.02% |
502,162
+57,291
| +13% | +$8.16M |
|
702
Celestica
CLS
$36.5B
| $72M | 0.02% |
243,401
+8,301
| +4% | +$2.5M |
|
703
WisdomTree Japan Hedged Equity Fund
DXJ
$7.42B
| $71.9M | 0.02% |
498,977
+19,606
| +4% | +$2.69M |
|
704
Janus Henderson Mortgage-Backed Securities ETF
JMBS
$6.73B
| $71.4M | 0.02% |
1,562,681
+107,267
| +7% | +$4.91M |
|
705
Dominion Energy
D
$59.3B
| $71.2M | 0.02% |
1,215,025
+34,215
| +3% | +$2.06M |
|
706
WisdomTree US Total Dividend Fund
DTD
$1.69B
| $71.2M | 0.02% |
838,532
+39,238
| +5% | +$3.31M |
|
707
Intercontinental Exchange
ICE
$84.4B
| $71.1M | 0.02% |
438,740
-37,343
| -8% | -$5.85M |
|
708
W.W. Grainger
GWW
$60.2B
| $70.9M | 0.02% |
70,301
+525
| +0.8% | +$509K |
|
709
State Street SPDR NYSE Technology ETF
XNTK
$2.23B
| $70.7M | 0.02% |
254,253
+48,595
| +24% | +$13.6M |
|
710
Becton Dickinson
BDX
$48.2B
| $70.5M | 0.02% |
363,066
-33,286
| -8% | -$6.33M |
|
711
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
$1.87B
| $69.9M | 0.02% |
1,807,496
+527,275
| +41% | +$20.1M |
|
|
RGLO
712
Russell Investments Global Equity ETF
RGLO
$357M
| $69.8M | 0.02% |
2,351,832
+132,284
| +6% | +$3.84M |
|
713
GS ActiveBeta US Small Cap Equity ETF
GSSC
$1.08B
| $69.6M | 0.02% |
920,707
+205,514
| +29% | +$15.4M |
|
714
Howmet Aerospace
HWM
$112B
| $69.5M | 0.02% |
339,023
-39,033
| -10% | -$7.77M |
|
715
JPMorgan International Bond Opportunities ETF
JPIB
$2.12B
| $69.4M | 0.02% |
1,425,590
+607,775
| +74% | +$29.7M |
|
|
DFSV
716
Dimensional US Small Cap Value ETF
DFSV
$8.34B
| $69.4M | 0.02% |
2,109,965
+557,500
| +36% | +$17.9M |
|
717
Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF
GGUS
$454M
| $69M | 0.02% |
1,084,098
+39,391
| +4% | +$2.51M |
|
718
Target
TGT
$68B
| $68.7M | 0.02% |
703,150
-17,453
| -2% | -$1.61M |
|
719
Goldman Sachs Access Ultra Short Bond ETF
GSST
$1.58B
| $68.5M | 0.02% |
1,358,155
+311,469
| +30% | +$15.8M |
|
720
Welltower
WELL
$171B
| $68.1M | 0.02% |
366,905
+45,728
| +14% | +$8.54M |
|
721
Seagate
STX
$184B
| $68.1M | 0.02% |
247,287
-11,488
| -4% | -$2.98M |
|
722
Agnico Eagle Mines
AEM
$90.5B
| $67.9M | 0.02% |
400,520
+43,315
| +12% | +$7.28M |
|
723
Victory Portfolios II VictoryShares Short-Term Bond ETF
USTB
$2.32B
| $67.9M | 0.02% |
1,334,919
+96,021
| +8% | +$4.89M |
|
724
Sempra
SRE
$54.8B
| $67.7M | 0.02% |
766,791
-45,752
| -6% | -$4.17M |
|
725
Coherent
COHR
$74.2B
| $67.7M | 0.02% |
366,636
+77,713
| +27% | +$11.6M |
|
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.