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 | |
|---|---|---|---|---|---|---|
1901
Avantis Responsible US Equity ETF
AVSU
$486M
| $10.3M | ﹤0.01% |
134,917
+1,875
| +1% | +$140K |
|
1902
Invesco Municipal Opportunity Trust
VMO
$658M
| $10.3M | ﹤0.01% |
1,075,653
+112,110
| +12% | +$1.08M |
|
1903
Schwab International Dividend Equity ETF
SCHY
$2.55B
| $10.3M | ﹤0.01% |
344,939
+66,147
| +24% | +$1.91M |
|
1904
AXIS Capital
AXS
$7.43B
| $10.3M | ﹤0.01% |
96,034
+39,709
| +70% | +$3.94M |
|
1905
First Trust Emerging Markets Small Cap AlphaDEX Fund
FEMS
$252M
| $10.3M | ﹤0.01% |
244,219
-120,222
| -33% | -$5.11M |
|
1906
Global X SuperDividend REIT ETF
SRET
$228M
| $10.3M | ﹤0.01% |
471,040
+40,743
| +9% | +$884K |
|
1907
NuScale Power
SMR
$3.77B
| $10.3M | ﹤0.01% |
723,813
+156,539
| +28% | +$4.48M |
|
1908
J.M. Smucker
SJM
$12.6B
| $10.3M | ﹤0.01% |
104,847
-10,111
| -9% | -$1.05M |
|
1909
Opendoor
OPEN
$3.38B
| $10.2M | ﹤0.01% |
1,752,926
+295,158
| +20% | +$2.11M |
|
1910
Assurant
AIZ
$14.2B
| $10.2M | ﹤0.01% |
42,356
+6,172
| +17% | +$1.38M |
|
1911
VanEck Agribusiness ETF
MOO
$978M
| $10.2M | ﹤0.01% |
140,139
-2,736
| -2% | -$199K |
|
|
QIG
1912
WisdomTree U.S. Corporate Bond Fund
QIG
$17.4M
| $10.2M | ﹤0.01% |
226,168
+5,238
| +2% | +$237K |
|
1913
Vanguard US Multifactor ETF
VFMF
$923M
| $10.2M | ﹤0.01% |
67,490
+8,323
| +14% | +$1.22M |
|
1914
Inspire Corporate Bond ETF
IBD
$489M
| $10.2M | ﹤0.01% |
420,194
+69,114
| +20% | +$1.67M |
|
1915
JPMorgan BetaBuilders Japan ETF
BBJP
$18.7B
| $10.2M | ﹤0.01% |
154,100
+14,125
| +10% | +$961K |
|
1916
Dimensional International High Profitability ETF
DIHP
$6.59B
| $10.1M | ﹤0.01% |
320,434
+166,339
| +108% | +$5.16M |
|
1917
Invesco BulletShares 2030 Municipal Bond ETF
BSMU
$277M
| $10.1M | ﹤0.01% |
460,052
+25,463
| +6% | +$560K |
|
1918
Boyd Gaming
BYD
$5.92B
| $10.1M | ﹤0.01% |
118,870
-28,023
| -19% | -$2.31M |
|
|
FTMH
1919
Franklin Municipal High Yield ETF
FTMH
$566M
| $10.1M | ﹤0.01% |
+875,567
| New | +$10.2M |
|
1920
Cooper Companies
COO
$14.9B
| $10.1M | ﹤0.01% |
123,417
-11,625
| -9% | -$870K |
|
1921
Adams Diversified Equity Fund
ADX
$3.21B
| $10.1M | ﹤0.01% |
432,561
-6,270
| -1% | -$144K |
|
1922
Northern Trust
NTRS
$34.4B
| $10.1M | ﹤0.01% |
73,769
-19,249
| -21% | -$2.53M |
|
1923
Neuberger Small-Mid Cap ETF
NBSM
$118M
| $10M | ﹤0.01% |
398,165
-5,419
| -1% | -$137K |
|
1924
Watsco Inc
WSO
$13.5B
| $10M | ﹤0.01% |
29,793
-2,106
| -7% | -$752K |
|
1925
State Street SPDR S&P Global Natural Resources ETF
GNR
$4.95B
| $10M | ﹤0.01% |
161,465
+9,563
| +6% | +$575K |
|
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.