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 | |
|---|---|---|---|---|---|---|
1976
Tyler Technologies
TYL
$13B
| $9.49M | ﹤0.01% |
20,913
+10
| +0% | +$4.76K |
|
|
HQH
1977
abrdn Healthcare Investors
HQH
$1.33B
| $9.49M | ﹤0.01% |
501,067
+95,667
| +24% | +$1.81M |
|
|
NFJ
1978
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.44B
| $9.48M | ﹤0.01% |
735,756
+95,006
| +15% | +$1.22M |
|
1979
First Citizens BancShares
FCNCA
$25.4B
| $9.48M | ﹤0.01% |
4,419
-219
| -5% | -$413K |
|
1980
First Trust Exchange-Traded Fund IV First Trust High Income Strategic Focus ETF
HISF
$98.7M
| $9.47M | ﹤0.01% |
209,368
+49,082
| +31% | +$2.22M |
|
1981
FTAI Aviation
FTAI
$22.1B
| $9.47M | ﹤0.01% |
48,121
+15,833
| +49% | +$2.7M |
|
1982
Aecom
ACM
$9.42B
| $9.45M | ﹤0.01% |
99,085
-60,851
| -38% | -$7.16M |
|
1983
Invesco S&P 500 Value with Momentum ETF
SPVM
$131M
| $9.44M | ﹤0.01% |
139,258
+23,353
| +20% | +$1.54M |
|
1984
Innovator US Equity Power Buffer ETF March
PMAR
$768M
| $9.43M | ﹤0.01% |
209,851
+13,305
| +7% | +$589K |
|
|
PHK
1985
PIMCO High Income Fund
PHK
$878M
| $9.41M | ﹤0.01% |
1,937,118
+47,241
| +2% | +$230K |
|
1986
CarMax
KMX
$8.34B
| $9.41M | ﹤0.01% |
243,521
+6,886
| +3% | +$275K |
|
1987
iShares iBonds Dec 2032 Term Corporate ETF
IBDX
$1.73B
| $9.4M | ﹤0.01% |
368,068
+41,143
| +13% | +$1.05M |
|
1988
Ollie's Bargain Outlet
OLLI
$4.8B
| $9.39M | ﹤0.01% |
85,666
-664
| -0.8% | -$80.1K |
|
1989
Sunoco
SUN
$13.5B
| $9.39M | ﹤0.01% |
179,123
-17,206
| -9% | -$909K |
|
1990
Innovator US Equity Power Buffer ETF June
PJUN
$975M
| $9.38M | ﹤0.01% |
224,057
+22,128
| +11% | +$916K |
|
1991
Barclays
BCS
$94.3B
| $9.38M | ﹤0.01% |
368,610
+79,235
| +27% | +$1.76M |
|
1992
Stanley Black & Decker
SWK
$15.5B
| $9.36M | ﹤0.01% |
126,060
+8,005
| +7% | +$564K |
|
1993
Saba Closed-End Funds ETF
CEFS
$438M
| $9.34M | ﹤0.01% |
405,574
-35,662
| -8% | -$812K |
|
1994
Zoom
ZM
$31.4B
| $9.34M | ﹤0.01% |
108,217
+11,825
| +12% | +$995K |
|
1995
FT Vest Buffered Allocation Defensive ETF
BUFT
$159M
| $9.32M | ﹤0.01% |
378,925
+57,584
| +18% | +$1.4M |
|
1996
Lincoln Electric
LECO
$15.1B
| $9.32M | ﹤0.01% |
38,892
+2,327
| +6% | +$551K |
|
1997
Macerich
MAC
$6.9B
| $9.31M | ﹤0.01% |
504,352
-31,996
| -6% | -$564K |
|
|
FIVA
1998
Fidelity International Value Factor ETF
FIVA
$602M
| $9.31M | ﹤0.01% |
271,965
-12,194
| -4% | -$395K |
|
1999
Okta
OKTA
$26.2B
| $9.31M | ﹤0.01% |
107,657
-5,151
| -5% | -$450K |
|
2000
IQ MacKay Municipal Insured ETF
MMIN
$477M
| $9.3M | ﹤0.01% |
388,647
-89,289
| -19% | -$2.14M |
|
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.