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 | |
|---|---|---|---|---|---|---|
1251
JPMorgan Diversified Return Emerging Markets Equity ETF
JPEM
$395M
| $25.4M | 0.01% |
417,623
+20,768
| +5% | +$1.25M |
|
1252
Xtrackers USD High Yield Corporate Bond ETF
HYLB
$3.48B
| $25.4M | 0.01% |
688,356
+18,034
| +3% | +$664K |
|
1253
iShares MSCI Canada ETF
EWC
$6.46B
| $25.4M | 0.01% |
470,079
+113,730
| +32% | +$5.88M |
|
1254
Twilio
TWLO
$36.6B
| $25.3M | 0.01% |
178,184
+4,338
| +2% | +$537K |
|
1255
TransDigm Group
TDG
$67.7B
| $25.3M | 0.01% |
19,042
-2,686
| -12% | -$3.52M |
|
|
BXMX
1256
DELISTED
Nuveen S&P 500 Buy-Write Income Fund
BXMX
| $25.3M | 0.01% |
1,722,466
-5,480
| -0.3% | -$78.7K |
|
|
ILOW
1257
AB International Low Volatility Equity ETF
ILOW
$1.89B
| $25.2M | 0.01% |
590,772
-64,595
| -10% | -$2.73M |
|
1258
Vanguard Russell 3000 ETF
VTHR
$4.86B
| $24.9M | 0.01% |
83,062
-2,002
| -2% | -$597K |
|
1259
Occidental Petroleum
OXY
$55.9B
| $24.9M | 0.01% |
606,354
-89,499
| -13% | -$3.74M |
|
1260
MSCI
MSCI
$40.9B
| $24.9M | 0.01% |
43,413
-6,783
| -14% | -$3.8M |
|
1261
Fidelity High Yield Factor ETF
FDHY
$584M
| $24.8M | 0.01% |
503,214
+74,936
| +17% | +$3.69M |
|
|
EXUS
1262
Nomura Focused International Core ETF
EXUS
$101M
| $24.8M | 0.01% |
+952,882
| New | +$24.5M |
|
1263
Carnival Corporation Ltd
CCL
$39.7B
| $24.8M | 0.01% |
811,188
+2,989
| +0.4% | +$83.3K |
|
1264
Jack Henry & Associates
JKHY
$11.1B
| $24.8M | 0.01% |
135,678
-407
| -0.3% | -$67.8K |
|
1265
KraneShares CSI China Internet ETF
KWEB
$5.67B
| $24.8M | 0.01% |
726,931
+3,434
| +0.5% | +$132K |
|
1266
iShares MSCI United Kingdom ETF
EWU
$4.16B
| $24.7M | 0.01% |
562,266
+141,380
| +34% | +$6.06M |
|
1267
Invesco S&P Emerging Markets Low Volatility ETF
EELV
$428M
| $24.7M | 0.01% |
900,180
+155,125
| +21% | +$4.19M |
|
1268
D-Wave Quantum Inc. Common Stock
QBTS
$7.73B
| $24.7M | 0.01% |
944,234
+57,016
| +6% | +$1.66M |
|
1269
United Airlines
UAL
$42.1B
| $24.6M | 0.01% |
220,365
-37,080
| -14% | -$3.75M |
|
1270
iShares MSCI Germany ETF
EWG
$1.68B
| $24.6M | 0.01% |
578,196
-557
| -0.1% | -$23.1K |
|
1271
Blue Owl Capital
OWL
$18.5B
| $24.6M | 0.01% |
1,644,310
+91,862
| +6% | +$1.44M |
|
1272
Aptus Defined Risk ETF
DRSK
$1.55B
| $24.6M | 0.01% |
862,385
-8,830
| -1% | -$258K |
|
1273
Global X SuperDividend ETF
SDIV
$1.22B
| $24.5M | 0.01% |
1,019,626
+93,821
| +10% | +$2.24M |
|
1274
Invesco S&P 500 Pure Value ETF
RPV
$1.71B
| $24.5M | 0.01% |
237,040
+40
| +0% | +$4.03K |
|
1275
Super Micro Computer
SMCI
$20.1B
| $24.5M | 0.01% |
835,793
-179,486
| -18% | -$7.39M |
|
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.