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 | |
|---|---|---|---|---|---|---|
1001
Huntington Bancshares
HBAN
$35.5B
| $39M | 0.01% |
2,249,954
-804,733
| -26% | -$13.2M |
|
1002
Hartford Multifactor US Equity ETF
ROUS
$726M
| $39M | 0.01% |
675,705
+66,847
| +11% | +$3.85M |
|
1003
Fortinet
FTNT
$117B
| $39M | 0.01% |
490,697
-21,080
| -4% | -$1.75M |
|
1004
Veeva Systems
VEEV
$37.4B
| $38.9M | 0.01% |
174,340
-7,373
| -4% | -$1.96M |
|
1005
iShares Core US REIT ETF
USRT
$4.64B
| $38.9M | 0.01% |
682,884
-7,064
| -1% | -$409K |
|
1006
Hartford Core Bond ETF
HCRB
$407M
| $38.9M | 0.01% |
1,097,481
+2,065
| +0.2% | +$73.6K |
|
1007
State Street SPDR Global Dow ETF
DGT
$628M
| $38.7M | 0.01% |
231,978
+16,365
| +8% | +$2.7M |
|
1008
GE HealthCare
GEHC
$32.4B
| $38.7M | 0.01% |
471,457
+45,191
| +11% | +$3.52M |
|
1009
Diageo
DEO
$53.6B
| $38.6M | 0.01% |
447,582
-51,887
| -10% | -$4.78M |
|
1010
Crown Castle
CCI
$32.2B
| $38.6M | 0.01% |
434,038
-14,530
| -3% | -$1.34M |
|
1011
Check Point Software Technologies
CHKP
$13.1B
| $38.4M | 0.01% |
206,902
+16,149
| +8% | +$3.12M |
|
|
EVSD
1012
Eaton Vance Short Duration Income ETF
EVSD
$1.37B
| $38.4M | 0.01% |
746,005
+223,253
| +43% | +$11.5M |
|
1013
Columbia EM Core ex-China ETF
XCEM
$2B
| $38.4M | 0.01% |
999,763
+38,587
| +4% | +$1.46M |
|
|
NBIS
1014
Nebius Group N.V.
NBIS
$47.7B
| $38.3M | 0.01% |
457,630
+41,811
| +10% | +$4.33M |
|
1015
iShares International Dividend Growth ETF
IGRO
$1.32B
| $38.2M | 0.01% |
461,166
-392,105
| -46% | -$31.7M |
|
1016
BlackRock Intermediate Muni Income Bond ETF
INMU
$548M
| $38.1M | 0.01% |
1,584,106
+236,298
| +18% | +$5.68M |
|
1017
FT Vest Gold Strategy Target Income ETF
IGLD
$541M
| $38.1M | 0.01% |
1,522,405
+405,522
| +36% | +$10.1M |
|
1018
Goldman Sachs Equal Weight US Large Cap Equity ETF
GSEW
$2.04B
| $37.9M | 0.01% |
444,845
+144,265
| +48% | +$12.2M |
|
1019
Hartford Municipal Opportunities ETF
HMOP
$796M
| $37.8M | 0.01% |
967,398
+155,457
| +19% | +$6.09M |
|
1020
iShares Morningstar Mid-Cap ETF
IMCB
$1.7B
| $37.7M | 0.01% |
456,261
-15,558
| -3% | -$1.29M |
|
1021
Schwab US TIPS ETF
SCHP
$16.2B
| $37.7M | 0.01% |
1,422,292
+112,479
| +9% | +$3.02M |
|
1022
First Trust Emerging Markets AlphaDEX Fund
FEM
$786M
| $37.6M | 0.01% |
1,375,536
+122,038
| +10% | +$3.29M |
|
1023
iShares Morningstar Small-Cap Growth ETF
ISCG
$1.02B
| $37.5M | 0.01% |
676,850
+161,609
| +31% | +$8.93M |
|
1024
Kraft Heinz
KHC
$30B
| $37.4M | 0.01% |
1,543,089
+41,284
| +3% | +$1.03M |
|
1025
Invesco High Yield Equity Dividend Achievers ETF
PEY
$1.17B
| $37.3M | 0.01% |
1,831,602
-75,458
| -4% | -$1.56M |
|
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.