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 | |
|---|---|---|---|---|---|---|
|
INCE
1351
Franklin Income Equity Focus ETF
INCE
$276M
| $22.1M | 0.01% |
361,560
+11,962
| +3% | +$717K |
|
1352
State Street SPDR S&P Software & Services ETF
XSW
$493M
| $22.1M | 0.01% |
118,013
+18,349
| +18% | +$3.53M |
|
|
CYBR
1353
DELISTED
CyberArk
CYBR
| $22M | 0.01% |
49,406
-2,992
| -6% | -$1.44M |
|
1354
Franklin FTSE Japan ETF
FLJP
$4.08B
| $22M | 0.01% |
638,991
-37,292
| -6% | -$1.32M |
|
1355
Nuveen ESG Mid-Cap Growth ETF
NUMG
$367M
| $21.9M | 0.01% |
458,819
-110,291
| -19% | -$5.28M |
|
1356
Xtrackers Short Duration High Yield Bond ETF
SHYL
$267M
| $21.9M | 0.01% |
487,049
+40,870
| +9% | +$1.84M |
|
1357
Invesco CEF Income Composite ETF
PCEF
$813M
| $21.9M | 0.01% |
1,101,072
-5,789
| -0.5% | -$115K |
|
1358
Zscaler
ZS
$27.3B
| $21.8M | 0.01% |
97,023
-9,020
| -9% | -$2.55M |
|
1359
iShares China Large-Cap ETF
FXI
$4.31B
| $21.8M | 0.01% |
568,673
-281,658
| -33% | -$11.2M |
|
1360
State Street SPDR S&P Insurance ETF
KIE
$688M
| $21.8M | 0.01% |
361,980
-31,728
| -8% | -$1.87M |
|
1361
WisdomTree Global ex-U.S. Quality Growth Fund
DNL
$501M
| $21.8M | 0.01% |
528,207
-108,350
| -17% | -$4.43M |
|
1362
Otis Worldwide
OTIS
$28.2B
| $21.8M | 0.01% |
249,215
+30,539
| +14% | +$2.73M |
|
1363
iShares iBonds 2028 Term High Yield and Income ETF
IBHH
$457M
| $21.7M | 0.01% |
918,580
+247,960
| +37% | +$5.87M |
|
1364
State Street SPDR S&P 500 ESG ETF
EFIV
$1.04B
| $21.7M | 0.01% |
328,045
+4,307
| +1% | +$280K |
|
1365
Lumentum
LITE
$69.3B
| $21.7M | 0.01% |
58,853
+27,527
| +88% | +$7.07M |
|
1366
Freedom 100 Emerging Markets ETF
FRDM
$3.34B
| $21.7M | 0.01% |
422,560
+122,599
| +41% | +$5.86M |
|
1367
Invesco S&P MidCap 400 Pure Value ETF
RFV
$337M
| $21.6M | 0.01% |
169,208
+83,424
| +97% | +$10.7M |
|
1368
Workday
WDAY
$44.4B
| $21.6M | 0.01% |
100,679
-1,722
| -2% | -$391K |
|
1369
Constellation Brands
STZ
$23.2B
| $21.6M | 0.01% |
156,570
+4,738
| +3% | +$650K |
|
1370
argenx
ARGX
$54.1B
| $21.6M | 0.01% |
25,656
-114
| -0.4% | -$97.6K |
|
1371
Invesco MSCI USA ETF
PBUS
$11.8B
| $21.6M | 0.01% |
314,915
+3,271
| +1% | +$222K |
|
1372
Invesco S&P 500 Equal Weight Industrials ETF
RSPN
$1.07B
| $21.5M | 0.01% |
380,323
+10,636
| +3% | +$595K |
|
|
TOPT
1373
iShares Top 20 U.S. Stocks ETF
TOPT
$682M
| $21.5M | 0.01% |
688,738
+177,777
| +35% | +$5.51M |
|
1374
Jacobs Solutions
J
$17B
| $21.5M | 0.01% |
162,247
+11,612
| +8% | +$1.7M |
|
1375
iShares Yield Optimized Bond ETF
BYLD
$443M
| $21.5M | 0.01% |
943,594
+95,537
| +11% | +$2.19M |
|
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.