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 | |
|---|---|---|---|---|---|---|
2001
AllianzIM U.S. Equity Buffer20 Jan ETF
JANW
$350M
| $9.3M | ﹤0.01% |
251,306
+83,789
| +50% | +$3.06M |
|
2002
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.65B
| $9.29M | ﹤0.01% |
7,661
+372
| +5% | +$458K |
|
2003
Invesco Municipal Trust
VKQ
$547M
| $9.27M | ﹤0.01% |
960,745
+130,288
| +16% | +$1.26M |
|
|
TRPA
2004
Hartford AAA CLO ETF
TRPA
$111M
| $9.26M | ﹤0.01% |
238,086
-120,068
| -34% | -$4.68M |
|
|
FTF
2005
Franklin Limited Duration Income Trust
FTF
$234M
| $9.26M | ﹤0.01% |
1,505,912
-11,589
| -0.8% | -$71.4K |
|
2006
FlexShares Ultra-Short Income Fund
RAVI
$1.5B
| $9.21M | ﹤0.01% |
122,258
+5,379
| +5% | +$406K |
|
2007
Keurig Dr Pepper
KDP
$39.9B
| $9.19M | ﹤0.01% |
328,042
-34,942
| -10% | -$960K |
|
2008
Bank of America Series L
BAC.PRL
$4B
| $9.19M | ﹤0.01% |
7,338
+44
| +0.6% | +$55.4K |
|
|
EMD
2009
Western Asset Emerging Markets Debt Fund
EMD
$611M
| $9.18M | ﹤0.01% |
863,751
+19,449
| +2% | +$205K |
|
2010
FT Vest DJIA Dogs 10 Target Income ETF
DOGG
$84.4M
| $9.18M | ﹤0.01% |
441,705
+180,661
| +69% | +$3.71M |
|
2011
State Street SPDR S&P Emerging Asia Pacific ETF
GMF
$438M
| $9.17M | ﹤0.01% |
66,090
-5,970
| -8% | -$834K |
|
2012
Invesco Senior Income Trust
VVR
$459M
| $9.17M | ﹤0.01% |
2,804,142
+400,918
| +17% | +$1.32M |
|
2013
Cambria Global Asset Allocation ETF
GAA
$73.6M
| $9.16M | ﹤0.01% |
281,859
+6,369
| +2% | +$204K |
|
2014
Amdocs
DOX
$6.22B
| $9.16M | ﹤0.01% |
113,717
-3,093
| -3% | -$249K |
|
2015
Advanced Energy
AEIS
$12.6B
| $9.15M | ﹤0.01% |
43,682
+6,068
| +16% | +$1.23M |
|
2016
United States Copper Index Fund
CPER
$777M
| $9.14M | ﹤0.01% |
261,506
+130,916
| +100% | +$4.19M |
|
2017
iShares Asia 50 ETF
AIA
$4.91B
| $9.12M | ﹤0.01% |
93,569
+25,177
| +37% | +$2.43M |
|
|
SDFI
2018
AB Short Duration Income ETF
SDFI
$187M
| $9.12M | ﹤0.01% |
254,724
+41,010
| +19% | +$1.47M |
|
2019
Amplify AI Powered Equity ETF
AIEQ
$123M
| $9.11M | ﹤0.01% |
201,879
+2,261
| +1% | +$102K |
|
2020
Imperial Oil
IMO
$62.3B
| $9.11M | ﹤0.01% |
105,511
+6,282
| +6% | +$572K |
|
2021
Mine Safety
MSA
$7.45B
| $9.09M | ﹤0.01% |
56,784
-3,019
| -5% | -$492K |
|
2022
Inspire International ETF
WWJD
$572M
| $9.08M | ﹤0.01% |
248,941
+67,312
| +37% | +$2.41M |
|
2023
WisdomTree Emerging Markets Multifactor Fund
EMMF
$175M
| $9.07M | ﹤0.01% |
287,437
+16,557
| +6% | +$518K |
|
2024
Franklin Resources
BEN
$17B
| $9.05M | ﹤0.01% |
378,934
-122,359
| -24% | -$2.81M |
|
2025
Insulet
PODD
$9.91B
| $9.05M | ﹤0.01% |
31,847
-512
| -2% | -$160K |
|
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.