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 | |
|---|---|---|---|---|---|---|
1376
Fidelity Dividend ETF for Rising Rates
FDRR
$761M
| $21.2M | 0.01% |
347,319
+80,360
| +30% | +$4.82M |
|
1377
Roku
ROKU
$22.7B
| $21.2M | 0.01% |
195,263
+32,074
| +20% | +$3.26M |
|
1378
CACI
CACI
$14.2B
| $21.1M | 0.01% |
39,537
+19,740
| +100% | +$11.2M |
|
1379
Main Street Capital
MAIN
$5.48B
| $21M | 0.01% |
348,375
-33,944
| -9% | -$2M |
|
1380
W.R. Berkley
WRB
$26.6B
| $20.9M | 0.01% |
298,409
+43,129
| +17% | +$3.18M |
|
1381
Toronto Dominion Bank
TD
$200B
| $20.9M | 0.01% |
222,059
+24,277
| +12% | +$2.05M |
|
1382
VanEck Green Bond ETF
GRNB
$185M
| $20.8M | 0.01% |
854,869
+96,614
| +13% | +$2.36M |
|
|
QXO
1383
QXO Inc
QXO
$17.4B
| $20.8M | 0.01% |
1,077,983
+480,916
| +81% | +$9.22M |
|
|
SHYM
1384
iShares Short Duration High Yield Muni Active ETF
SHYM
$815M
| $20.8M | 0.01% |
935,025
+99,340
| +12% | +$2.21M |
|
1385
JPMorgan BetaBuilders International Equity ETF
BBIN
$6.59B
| $20.7M | 0.01% |
286,713
+12,234
| +4% | +$875K |
|
1386
Medpace
MEDP
$16.5B
| $20.7M | 0.01% |
36,837
+10,480
| +40% | +$5.95M |
|
1387
Equifax
EFX
$21.4B
| $20.7M | 0.01% |
95,300
+2,159
| +2% | +$473K |
|
1388
TKO Group
TKO
$13.6B
| $20.6M | 0.01% |
98,708
+15,857
| +19% | +$3.08M |
|
1389
iShares US Telecommunications ETF
IYZ
$1.23B
| $20.6M | 0.01% |
607,814
+13,608
| +2% | +$446K |
|
1390
HCM Defender 100 Index ETF
QQH
$763M
| $20.5M | 0.01% |
265,355
+17,704
| +7% | +$1.38M |
|
1391
Invesco 0-5 Yr US TIPS ETF
PBTP
$116M
| $20.5M | 0.01% |
792,145
+4,571
| +0.6% | +$120K |
|
1392
iShares CMBS ETF
CMBS
$472M
| $20.5M | 0.01% |
418,164
+118,291
| +39% | +$5.81M |
|
1393
First Trust Energy AlphaDEX Fund
FXN
$368M
| $20.5M | 0.01% |
1,245,990
-149,235
| -11% | -$2.43M |
|
1394
Skyworks Solutions
SWKS
$10.6B
| $20.5M | 0.01% |
323,534
-11,351
| -3% | -$793K |
|
1395
John Hancock Multifactor Small Cap ETF
JHSC
$741M
| $20.5M | 0.01% |
488,334
+7,828
| +2% | +$328K |
|
1396
Agilent Technologies
A
$41.2B
| $20.5M | 0.01% |
150,503
+27,010
| +22% | +$3.88M |
|
1397
WisdomTree Trust WisdomTree Emerging Markets Quality Dividend Growth Fund
DGRE
$146M
| $20.5M | 0.01% |
653,944
+56,188
| +9% | +$1.69M |
|
1398
Fidelity MSCI Energy Index ETF
FENY
$1.94B
| $20.5M | 0.01% |
826,014
-55,125
| -6% | -$1.36M |
|
1399
Ferrari
RACE
$72.5B
| $20.4M | 0.01% |
55,255
-1,563
| -3% | -$625K |
|
1400
iShares iBonds 2027 Term High Yield and Income ETF
IBHG
$515M
| $20.4M | 0.01% |
913,788
+226,079
| +33% | +$5.05M |
|
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.