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 | |
|---|---|---|---|---|---|---|
851
Invesco BulletShares 2029 High Yield Corporate Bond ETF
BSJT
$563M
| $52.6M | 0.01% |
2,444,246
+163,307
| +7% | +$3.51M |
|
852
VanEck Preferred Securities ex Financials ETF
PFXF
$2.47B
| $52.3M | 0.01% |
2,961,370
+232,745
| +9% | +$4.12M |
|
853
PG&E
PCG
$38.5B
| $52.3M | 0.01% |
3,251,737
+88,193
| +3% | +$1.41M |
|
854
VictoryShares WestEnd US Sector ETF
MODL
$1.07B
| $52M | 0.01% |
1,094,146
+274,425
| +33% | +$12.9M |
|
855
iShares ESG Advanced MSCI USA ETF
USXF
$1.49B
| $51.7M | 0.01% |
897,925
+15,591
| +2% | +$897K |
|
856
Alliant Energy
LNT
$18B
| $51.7M | 0.01% |
794,730
+460
| +0.1% | +$30.8K |
|
857
iShares Dow Jones US ETF
IYY
$3.06B
| $51.7M | 0.01% |
311,581
-22,600
| -7% | -$3.72M |
|
858
iShares MSCI ACWI ETF
ACWI
$33.5B
| $51.5M | 0.01% |
364,135
-66,763
| -15% | -$9.37M |
|
859
iShares iBonds Dec 2026 Term Treasury ETF
IBTG
$2.22B
| $51.5M | 0.01% |
2,249,853
+750,932
| +50% | +$17.2M |
|
|
VPLS
860
Vanguard Core Plus Bond ETF
VPLS
$1.65B
| $51.4M | 0.01% |
658,499
+216,196
| +49% | +$17M |
|
|
FISV
861
Fiserv Inc
FISV
$27.9B
| $51.2M | 0.01% |
762,658
+127,119
| +20% | +$10.6M |
|
862
ProShares S&P 500 High Income ETF
ISPY
$1.27B
| $50.8M | 0.01% |
1,114,368
+202,221
| +22% | +$9.19M |
|
863
Nucor
NUE
$62.1B
| $50.6M | 0.01% |
310,059
+11,813
| +4% | +$1.78M |
|
864
WisdomTree US SmallCap Dividend Fund
DES
$2.22B
| $50.4M | 0.01% |
1,506,212
-106,214
| -7% | -$3.55M |
|
865
JPMorgan International Growth ETF
JIG
$498M
| $50.3M | 0.01% |
685,608
-104,394
| -13% | -$7.82M |
|
866
Nasdaq
NDAQ
$52.9B
| $50.1M | 0.01% |
516,285
-39,881
| -7% | -$3.59M |
|
867
Fidelity MSCI Health Care Index ETF
FHLC
$3.36B
| $50.1M | 0.01% |
675,065
+29,461
| +5% | +$2.12M |
|
868
Interactive Brokers
IBKR
$39.8B
| $50.1M | 0.01% |
778,743
+55,191
| +8% | +$3.69M |
|
869
Comfort Systems
FIX
$59.6B
| $50M | 0.01% |
53,554
-1,112
| -2% | -$1.03M |
|
870
iShares iBonds Dec 2029 Term Corporate ETF
IBDU
$4.05B
| $49.9M | 0.01% |
2,133,696
+305,410
| +17% | +$7.16M |
|
871
iShares Global Clean Energy ETF
ICLN
$2.4B
| $49.9M | 0.01% |
3,036,315
+2,290,021
| +307% | +$38.2M |
|
872
State Street SPDR S&P International Small Cap ETF
GWX
$913M
| $49.9M | 0.01% |
1,220,704
-39,903
| -3% | -$1.6M |
|
873
IQ MacKay Municipal Intermediate ETF
MMIT
$1.47B
| $49.8M | 0.01% |
2,046,660
+267,079
| +15% | +$6.5M |
|
874
Snap-on
SNA
$21.5B
| $49.7M | 0.01% |
144,271
+59,461
| +70% | +$20.3M |
|
875
First Trust International Developed Capital Strength ETF
FICS
$216M
| $49.7M | 0.01% |
1,239,451
+878
| +0.1% | +$34.2K |
|
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.