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 | |
|---|---|---|---|---|---|---|
1651
Starwood Property Trust
STWD
$6.07B
| $14.1M | ﹤0.01% |
784,103
+92,851
| +13% | +$1.71M |
|
1652
Synchrony
SYF
$25.5B
| $14.1M | ﹤0.01% |
168,997
+17,287
| +11% | +$1.32M |
|
1653
Keysight
KEYS
$58.1B
| $14.1M | ﹤0.01% |
69,300
+18,679
| +37% | +$3.47M |
|
1654
Vanguard US Minimum Volatility ETF
VFMV
$446M
| $14.1M | ﹤0.01% |
107,815
+1,884
| +2% | +$246K |
|
1655
Schwab Fundamental US Small Company Index ETF
FNDA
$9.32B
| $14M | ﹤0.01% |
445,232
+16,515
| +4% | +$515K |
|
1656
Invesco BulletShares 2030 High Yield Corporate Bond ETF
BSJU
$314M
| $14M | ﹤0.01% |
536,669
-88,288
| -14% | -$2.3M |
|
1657
AST SpaceMobile
ASTS
$20.7B
| $14M | ﹤0.01% |
192,769
+61,010
| +46% | +$4.35M |
|
1658
PUT
Apple
AAPL
$4.47T
| $14M | ﹤0.01% |
51,500
-7,400
| -13% | -$1.99M |
|
1659
DraftKings
DKNG
$12.4B
| $14M | ﹤0.01% |
405,289
-7,228
| -2% | -$238K |
|
1660
ClearBridge Dividend Strategy ESG ETF
YLDE
$172M
| $14M | ﹤0.01% |
257,686
+81,660
| +46% | +$4.41M |
|
1661
State Street Multi-Asset Real Return ETF
RLY
$1.3B
| $13.9M | ﹤0.01% |
443,338
+17,129
| +4% | +$537K |
|
1662
Viking Holdings
VIK
$46B
| $13.9M | ﹤0.01% |
195,151
+109,500
| +128% | +$6.99M |
|
1663
Franklin Municipal Green Bond ETF
FLMB
$75.2M
| $13.9M | ﹤0.01% |
585,766
-1,904
| -0.3% | -$45.3K |
|
1664
Innovator Defined Wealth Shield ETF
BALT
$2.8B
| $13.9M | ﹤0.01% |
413,977
+15,385
| +4% | +$509K |
|
1665
Baidu
BIDU
$37B
| $13.8M | ﹤0.01% |
105,958
+5,101
| +5% | +$633K |
|
1666
iShares MSCI Spain ETF
EWP
$2.21B
| $13.8M | ﹤0.01% |
255,301
+7,800
| +3% | +$399K |
|
1667
BJs Wholesale Club
BJ
$12.3B
| $13.7M | ﹤0.01% |
152,664
-178
| -0.1% | -$16.3K |
|
|
Q
1668
Qnity Electronics Inc
Q
$28.3B
| $13.7M | ﹤0.01% |
+167,804
| New | +$14.3M |
|
1669
iShares Russell 2500 ETF
SMMD
$3.73B
| $13.7M | ﹤0.01% |
182,368
+22,393
| +14% | +$1.67M |
|
1670
Fidelity MSCI Consumer Discretionary Index ETF
FDIS
$1.73B
| $13.6M | ﹤0.01% |
133,440
-2,501
| -2% | -$254K |
|
1671
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.41B
| $13.6M | ﹤0.01% |
1,169,820
+49,844
| +4% | +$574K |
|
1672
WisdomTree US Multifactor Fund
USMF
$303M
| $13.6M | ﹤0.01% |
265,377
+18,927
| +8% | +$970K |
|
1673
Dick's Sporting Goods
DKS
$19.1B
| $13.6M | ﹤0.01% |
68,686
+15,605
| +29% | +$3.4M |
|
1674
Centrus Energy
LEU
$3.79B
| $13.6M | ﹤0.01% |
55,858
-8,918
| -14% | -$2.69M |
|
1675
FlexShares US Quality Large Cap Index Fund
QLC
$1.05B
| $13.5M | ﹤0.01% |
166,669
+67,228
| +68% | +$5.35M |
|
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.