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 | |
|---|---|---|---|---|---|---|
1826
Rentokil
RTO
$12.2B
| $11.3M | ﹤0.01% |
384,364
+46,709
| +14% | +$1.3M |
|
|
EMBX
1827
VanEck Emerging Markets Bond ETF
EMBX
$263M
| $11.3M | ﹤0.01% |
+223,606
| New | +$11.3M |
|
1828
VictoryShares US Large Cap High Div Volatility Wtd ETF
CDL
$402M
| $11.3M | ﹤0.01% |
164,346
+9,770
| +6% | +$673K |
|
1829
Coeur Mining
CDE
$18.7B
| $11.3M | ﹤0.01% |
633,301
-11,692
| -2% | -$203K |
|
1830
abrdn Physical Palladium Shares ETF
PALL
$683M
| $11.3M | ﹤0.01% |
388,145
+215,105
| +124% | +$5.8M |
|
1831
FT Vest Technology Dividend Target Income ETF
TDVI
$560M
| $11.3M | ﹤0.01% |
406,776
+124,781
| +44% | +$3.54M |
|
1832
SS&C Technologies
SSNC
$18.7B
| $11.3M | ﹤0.01% |
129,069
-2,652
| -2% | -$226K |
|
1833
Invesco BulletShares 2028 Municipal Bond ETF
BSMS
$316M
| $11.2M | ﹤0.01% |
478,530
+51,111
| +12% | +$1.2M |
|
1834
Texas Roadhouse
TXRH
$13.6B
| $11.2M | ﹤0.01% |
67,706
+4,196
| +7% | +$710K |
|
1835
Fidelity MSCI Real Estate Index ETF
FREL
$1.47B
| $11.2M | ﹤0.01% |
417,340
-6,123
| -1% | -$167K |
|
1836
Avantis Real Estate ETF
AVRE
$862M
| $11.2M | ﹤0.01% |
257,798
+39,895
| +18% | +$1.76M |
|
1837
AB InBev
BUD
$164B
| $11.2M | ﹤0.01% |
174,974
-18,676
| -10% | -$1.16M |
|
|
STXF
1838
Strive 500 ETF
STXF
$1.16B
| $11.2M | ﹤0.01% |
253,729
+27,310
| +12% | +$1.19M |
|
1839
First Trust NASDAQ Clean Edge Green Energy Index Fund
QCLN
$619M
| $11.2M | ﹤0.01% |
250,739
+54,286
| +28% | +$2.44M |
|
1840
Universal Health Services
UHS
$10.5B
| $11.2M | ﹤0.01% |
51,203
+5,279
| +11% | +$1.17M |
|
|
ZAP
1841
Global X U.S. Electrification ETF
ZAP
$462M
| $11.2M | ﹤0.01% |
383,837
+116,864
| +44% | +$3.51M |
|
1842
iShares US Healthcare Providers ETF
IHF
$1.27B
| $11.1M | ﹤0.01% |
232,071
-7,572
| -3% | -$371K |
|
1843
Canadian Natural Resources
CNQ
$97.4B
| $11.1M | ﹤0.01% |
328,287
+38,957
| +13% | +$1.26M |
|
1844
Accel Entertainment
ACEL
$978M
| $11.1M | ﹤0.01% |
971,769
-31,600
| -3% | -$333K |
|
1845
Lloyds Banking Group
LYG
$89B
| $11.1M | ﹤0.01% |
2,092,012
+109,009
| +5% | +$528K |
|
|
RUSC
1846
Russell Investments U.S. Small Cap Equity ETF
RUSC
$81.2M
| $11.1M | ﹤0.01% |
356,123
+18,981
| +6% | +$583K |
|
|
CAM
1847
AB California Intermediate Municipal ETF
CAM
$1.21B
| $11.1M | ﹤0.01% |
+441,373
| New | +$11.1M |
|
1848
ResMed
RMD
$31.9B
| $11.1M | ﹤0.01% |
45,945
-14,039
| -23% | -$3.59M |
|
1849
VanEck Short Muni ETF
SMB
$314M
| $11.1M | ﹤0.01% |
635,320
+40,789
| +7% | +$708K |
|
1850
OGE Energy
OGE
$9.54B
| $11M | ﹤0.01% |
258,624
+7,572
| +3% | +$338K |
|
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.