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 | |
|---|---|---|---|---|---|---|
1476
Fidelity MSCI Industrials Index ETF
FIDU
$2.39B
| $18.2M | 0.01% |
220,278
-30,832
| -12% | -$2.53M |
|
1477
Banco Santander
SAN
$210B
| $18.1M | 0.01% |
1,545,866
+94,531
| +7% | +$1M |
|
1478
CBRE Group
CBRE
$42.9B
| $18.1M | 0.01% |
112,744
+2,311
| +2% | +$363K |
|
1479
Davis Select Worldwide ETF
DWLD
$616M
| $18.1M | ﹤0.01% |
388,586
+151,593
| +64% | +$6.9M |
|
1480
Simplify Short Term Treasury Futures Strategy ETF
TUA
$658M
| $18.1M | ﹤0.01% |
825,818
+452,544
| +121% | +$9.94M |
|
1481
MasTec
MTZ
$21.9B
| $18.1M | ﹤0.01% |
83,072
-35,219
| -30% | -$7.39M |
|
1482
Nu Holdings
NU
$66.9B
| $18M | ﹤0.01% |
1,074,191
+121,590
| +13% | +$1.95M |
|
1483
iShares ESG Aware MSCI USA Small-Cap ETF
ESML
$2.92B
| $17.8M | ﹤0.01% |
387,828
+130,314
| +51% | +$5.94M |
|
1484
iShares ESG Screened S&P Mid-Cap ETF
XJH
$435M
| $17.7M | ﹤0.01% |
397,479
+144,290
| +57% | +$6.36M |
|
1485
MP Materials
MP
$9.1B
| $17.7M | ﹤0.01% |
350,670
-94,001
| -21% | -$5.96M |
|
|
FPF
1486
First Trust Intermediate Duration Preferred & Income Fund
FPF
$1.08B
| $17.7M | ﹤0.01% |
949,342
+115,746
| +14% | +$2.17M |
|
1487
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.73B
| $17.7M | ﹤0.01% |
1,866,062
+54,826
| +3% | +$499K |
|
1488
iShares Micro-Cap ETF
IWC
$1.5B
| $17.7M | ﹤0.01% |
112,004
-3,960
| -3% | -$616K |
|
|
UFOX
1489
Defiance Space and Connective Tech ETF
UFOX
$911M
| $17.7M | ﹤0.01% |
276,567
-1,085
| -0.4% | -$70.1K |
|
1490
KeyCorp
KEY
$24.4B
| $17.6M | ﹤0.01% |
852,106
+31,998
| +4% | +$596K |
|
1491
Cleveland-Cliffs
CLF
$6.99B
| $17.5M | ﹤0.01% |
1,320,330
+54,818
| +4% | +$692K |
|
1492
Amplify International Enhanced Dividend Income ETF
IDVO
$1.38B
| $17.5M | ﹤0.01% |
457,106
+105,127
| +30% | +$3.97M |
|
1493
Pinterest
PINS
$13.4B
| $17.5M | ﹤0.01% |
676,186
-24,782
| -4% | -$713K |
|
1494
Innovator US Equity Power Buffer ETF September
PSEP
$841M
| $17.5M | ﹤0.01% |
399,985
+37,154
| +10% | +$1.61M |
|
|
IDEQ
1495
Lazard International Dynamic Equity ETF
IDEQ
$1.66B
| $17.5M | ﹤0.01% |
575,947
+287,336
| +100% | +$8.41M |
|
1496
Raymond James Financial
RJF
$34B
| $17.5M | ﹤0.01% |
108,785
+4,814
| +5% | +$777K |
|
1497
iShares GNMA Bond ETF
GNMA
$432M
| $17.4M | ﹤0.01% |
391,218
+193,767
| +98% | +$8.63M |
|
1498
Hartford Multifactor Emerging Markets ETF
ROAM
$110M
| $17.4M | ﹤0.01% |
598,063
+138,600
| +30% | +$4M |
|
1499
Canadian Pacific Kansas City
CP
$80.5B
| $17.4M | ﹤0.01% |
236,480
+942
| +0.4% | +$69.3K |
|
1500
HEICO Corp Class A
HEI.A
$37.2B
| $17.4M | ﹤0.01% |
68,929
-9,105
| -12% | -$2.25M |
|
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.