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 | |
|---|---|---|---|---|---|---|
1101
BILL Holdings
BILL
$4.78B
| $32.3M | 0.01% |
591,372
-72,063
| -11% | -$3.7M |
|
|
PWRD
1102
TCW Transform Systems ETF
PWRD
$1.52B
| $32.3M | 0.01% |
335,429
+102,977
| +44% | +$10.1M |
|
1103
Swan Hedged Equity US Large Cap ETF
HEGD
$736M
| $32.2M | 0.01% |
1,277,864
+173,105
| +16% | +$4.37M |
|
1104
ClearBridge Large Cap Growth Select ETF
LRGE
$380M
| $32.1M | 0.01% |
390,328
+7,308
| +2% | +$607K |
|
1105
Invesco Semiconductors ETF
PSI
$2.53B
| $32.1M | 0.01% |
407,485
+44,235
| +12% | +$3.38M |
|
1106
Roper Technologies
ROP
$39.8B
| $32.1M | 0.01% |
72,097
-1,497
| -2% | -$693K |
|
1107
JPMorgan US Value Factor ETF
JVAL
$865M
| $32.1M | 0.01% |
653,170
-229,407
| -26% | -$11.1M |
|
1108
Devon Energy
DVN
$47.3B
| $32M | 0.01% |
874,223
+11,408
| +1% | +$398K |
|
1109
iShares US Real Estate ETF
IYR
$4.57B
| $32M | 0.01% |
340,889
-6,040
| -2% | -$576K |
|
1110
Mueller Industries
MLI
$15.2B
| $31.9M | 0.01% |
555,656
+235,326
| +73% | +$12.7M |
|
1111
Blue Owl Capital
OBDC
$5.74B
| $31.8M | 0.01% |
2,558,135
+170,730
| +7% | +$2.17M |
|
1112
PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund
HYS
$1.77B
| $31.8M | 0.01% |
335,107
+19,072
| +6% | +$1.81M |
|
|
ETHA
1113
iShares Ethereum Trust ETF
ETHA
$5.66B
| $31.7M | 0.01% |
1,414,123
+174,036
| +14% | +$4.55M |
|
1114
Globe Life
GL
$14.3B
| $31.6M | 0.01% |
226,097
+14,572
| +7% | +$1.97M |
|
|
XYZ
1115
Block Inc
XYZ
$47.5B
| $31.6M | 0.01% |
484,887
-37,957
| -7% | -$2.62M |
|
1116
Citizens Financial Group
CFG
$30.6B
| $31.4M | 0.01% |
538,265
+74,547
| +16% | +$4.01M |
|
1117
Veralto
VLTO
$24B
| $31.3M | 0.01% |
313,532
+8,478
| +3% | +$857K |
|
|
PPLT
1118
abrdn Physical Platinum Shares ETF
PPLT
$2.04B
| $31.2M | 0.01% |
1,675,840
-213,610
| -11% | -$3.29M |
|
1119
Vanguard ESG US Stock ETF
ESGV
$13.7B
| $31.2M | 0.01% |
257,916
+6,498
| +3% | +$779K |
|
1120
Southwest Airlines
LUV
$23B
| $31.2M | 0.01% |
754,307
+19,579
| +3% | +$684K |
|
1121
Rocket Lab Corp
RKLB
$51.8B
| $31.1M | 0.01% |
445,888
+18,772
| +4% | +$1.08M |
|
|
FITB
1122
Fifth Third Bancorp
FITB
$51.8B
| $31.1M | 0.01% |
663,974
+641
| +0.1% | +$28.2K |
|
1123
iShares MSCI Emerging Markets Asia ETF
EEMA
$860M
| $31M | 0.01% |
329,604
-3,173
| -1% | -$297K |
|
1124
BNY Mellon International Equity ETF
BKIE
$1.35B
| $31M | 0.01% |
1,003,593
+88,407
| +10% | +$2.67M |
|
1125
Idexx Laboratories
IDXX
$46.2B
| $30.9M | 0.01% |
45,636
+5,813
| +15% | +$3.96M |
|
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.