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 | |
|---|---|---|---|---|---|---|
1701
Plains All American Pipeline
PAA
$16.3B
| $13.2M | ﹤0.01% |
736,010
+34,661
| +5% | +$589K |
|
1702
State Street SPDR S&P Emerging Markets Small Cap ETF
EWX
$694M
| $13.2M | ﹤0.01% |
201,167
-23,922
| -11% | -$1.59M |
|
1703
iShares US Regional Banks ETF
IAT
$675M
| $13.2M | ﹤0.01% |
239,451
-1,850
| -0.8% | -$96.1K |
|
1704
Franklin US Treasury Bond ETF
FLGV
$1.03B
| $13.2M | ﹤0.01% |
643,340
+129,546
| +25% | +$2.68M |
|
1705
Equinox Gold
EQX
$13.6B
| $13.2M | ﹤0.01% |
939,635
-79,404
| -8% | -$1M |
|
1706
HealthEquity
HQY
$8.9B
| $13.2M | ﹤0.01% |
143,848
-1,477
| -1% | -$141K |
|
1707
iShares World ex U.S. Carbon Transition Readiness Aware Active ETF
LCTD
$294M
| $13.1M | ﹤0.01% |
240,240
-64,118
| -21% | -$3.47M |
|
1708
Essential Utilities
WTRG
$11.2B
| $13.1M | ﹤0.01% |
342,103
-3,682
| -1% | -$145K |
|
1709
Toll Brothers
TOL
$14B
| $13.1M | ﹤0.01% |
97,030
+7,378
| +8% | +$1M |
|
1710
Pacer US Cash Cows Growth ETF
BUL
$139M
| $13.1M | ﹤0.01% |
238,155
+33,442
| +16% | +$1.79M |
|
1711
UBS Group
UBS
$177B
| $13.1M | ﹤0.01% |
283,013
+29,773
| +12% | +$1.2M |
|
1712
Nordson
NDSN
$17.2B
| $13.1M | ﹤0.01% |
54,413
-3,233
| -6% | -$760K |
|
1713
Tyson Foods
TSN
$20.3B
| $13M | ﹤0.01% |
222,514
-7,703
| -3% | -$423K |
|
|
OPPE
1714
WisdomTree European Opportunities Fund
OPPE
$294M
| $13M | ﹤0.01% |
253,477
+65,601
| +35% | +$3.26M |
|
1715
HEICO Corp
HEI
$51.1B
| $13M | ﹤0.01% |
40,163
-365
| -0.9% | -$115K |
|
|
AFGR
1716
First Trust Active Factor Large Cap Growth ETF
AFGR
$96.7M
| $13M | ﹤0.01% |
366,621
-48,649
| -12% | -$1.74M |
|
|
SOLS
1717
Solstice Advanced Materials
SOLS
$9.67B
| $13M | ﹤0.01% |
+267,287
| New | +$12.6M |
|
1718
RBC Bearings
RBC
$17.7B
| $13M | ﹤0.01% |
28,948
-131
| -0.5% | -$55.5K |
|
1719
Symbotic
SYM
$5.27B
| $13M | ﹤0.01% |
218,029
+35,557
| +19% | +$2.35M |
|
1720
Invesco DB Commodity Index Tracking Fund
DBC
$1.72B
| $13M | ﹤0.01% |
579,877
-4,313
| -0.7% | -$98K |
|
1721
FT Vest US Equity Buffer ETF January
FJAN
$1.46B
| $12.9M | ﹤0.01% |
250,193
+17,410
| +7% | +$884K |
|
1722
VeriSign
VRSN
$26.8B
| $12.9M | ﹤0.01% |
53,271
-6,747
| -11% | -$1.69M |
|
1723
Gold Fields
GFI
$36.4B
| $12.9M | ﹤0.01% |
295,226
-29,674
| -9% | -$1.24M |
|
1724
First Trust Indxx Innovative Transaction & Process ETF
LEGR
$133M
| $12.8M | ﹤0.01% |
215,524
+9,859
| +5% | +$571K |
|
1725
Eaton Vance Short Duration Municipal Income ETF
EVSM
$788M
| $12.8M | ﹤0.01% |
253,394
+79,354
| +46% | +$4M |
|
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.