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 | |
|---|---|---|---|---|---|---|
901
Invesco S&P 500 Pure Growth ETF
RPG
$2.09B
| $47.6M | 0.01% |
1,018,852
-123,818
| -11% | -$5.8M |
|
902
iShares MSCI India ETF
INDA
$6.63B
| $47.5M | 0.01% |
878,900
-237,064
| -21% | -$12.8M |
|
|
QWLD
903
State Street SPDR MSCI World StrategicFactors ETF
QWLD
$179M
| $47.4M | 0.01% |
330,750
+14,155
| +4% | +$2M |
|
904
Invesco BulletShares 2028 High Yield Corporate Bond ETF
BSJS
$734M
| $47.4M | 0.01% |
2,153,307
+374,157
| +21% | +$8.23M |
|
905
Cloudflare
NET
$107B
| $46.9M | 0.01% |
237,958
+35,181
| +17% | +$7.44M |
|
906
Cboe Global Markets
CBOE
$29.9B
| $46.9M | 0.01% |
186,835
+31,978
| +21% | +$7.95M |
|
907
Janus Henderson B-BBB CLO ETF
JBBB
$1.41B
| $46.9M | 0.01% |
982,717
-130,669
| -12% | -$6.26M |
|
908
Principal Exchange-Traded Funds Principal US Small-Cap ETF
PSC
$2.3B
| $46.8M | 0.01% |
810,402
+297,560
| +58% | +$17M |
|
909
Dimensional Core Fixed Income ETF
DFCF
$10.9B
| $46.4M | 0.01% |
1,089,632
-4,581
| -0.4% | -$196K |
|
910
iShares US Industrials ETF
IYJ
$2.02B
| $46.2M | 0.01% |
311,785
-1,387
| -0.4% | -$203K |
|
911
AB Core Plus Bond ETF
CPLS
$211M
| $46.2M | 0.01% |
1,299,397
+47,674
| +4% | +$1.71M |
|
912
Apollo Global Management
APO
$73.4B
| $46.1M | 0.01% |
318,718
-45,616
| -13% | -$6.06M |
|
913
Principal Financial Group
PFG
$24.3B
| $46M | 0.01% |
521,319
+402,535
| +339% | +$34M |
|
914
Carrier Global
CARR
$52.8B
| $45.9M | 0.01% |
868,646
+32,092
| +4% | +$1.78M |
|
915
LyondellBasell Industries
LYB
$19.2B
| $45.5M | 0.01% |
1,051,779
-34,076
| -3% | -$1.54M |
|
|
QQA
916
Invesco QQQ Income Advantage ETF
QQA
$814M
| $45.4M | 0.01% |
856,939
+328,405
| +62% | +$17.5M |
|
917
First Trust Dow 30 Equal Weight ETF
EDOW
$323M
| $45.1M | 0.01% |
1,091,647
+10,950
| +1% | +$446K |
|
918
JPMorgan Diversified Return US Small Cap Equity ETF
JPSE
$606M
| $45.1M | 0.01% |
900,097
+38,838
| +5% | +$1.95M |
|
919
Dover
DOV
$28.4B
| $44.8M | 0.01% |
229,248
-1,726
| -0.7% | -$314K |
|
920
iShares US Utilities ETF
IDU
$1.4B
| $44.6M | 0.01% |
411,813
+50,692
| +14% | +$5.66M |
|
921
Sysco
SYY
$40.3B
| $44.6M | 0.01% |
605,451
+16,072
| +3% | +$1.22M |
|
922
Franklin US Large Cap Multifactor Index ETF
FLQL
$2.11B
| $44.4M | 0.01% |
640,271
+55,065
| +9% | +$3.79M |
|
923
iShares Global REIT ETF
REET
$5.11B
| $44.3M | 0.01% |
1,777,264
+72,853
| +4% | +$1.84M |
|
924
Kroger
KR
$34.8B
| $44.3M | 0.01% |
709,083
-8,377
| -1% | -$548K |
|
925
iShares US Financial Services ETF
IYG
$2.2B
| $44.3M | 0.01% |
479,941
+24,452
| +5% | +$2.18M |
|
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.