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 | |
|---|---|---|---|---|---|---|
2051
NetApp
NTAP
$39B
| $8.71M | ﹤0.01% |
81,346
-11,410
| -12% | -$1.3M |
|
2052
Nutrien
NTR
$31.6B
| $8.69M | ﹤0.01% |
140,851
+6,238
| +5% | +$367K |
|
2053
Exelixis
EXEL
$13.1B
| $8.69M | ﹤0.01% |
198,252
-40,192
| -17% | -$1.66M |
|
2054
NNN REIT
NNN
$8.8B
| $8.69M | ﹤0.01% |
219,239
+743
| +0.3% | +$30.5K |
|
2055
Invesco S&P SmallCap Low Volatility ETF
XSLV
$246M
| $8.68M | ﹤0.01% |
187,175
-12,903
| -6% | -$595K |
|
|
ITWO
2056
ProShares Russell 2000 High Income ETF
ITWO
$200M
| $8.68M | ﹤0.01% |
218,562
+89,215
| +69% | +$3.55M |
|
2057
Goldman Sachs ActiveBeta Europe Equity ETF
GSEU
$126M
| $8.67M | ﹤0.01% |
189,781
+10,517
| +6% | +$466K |
|
2058
BlackRock Floating Rate Income Trust
BGT
$328M
| $8.63M | ﹤0.01% |
761,509
+58,423
| +8% | +$676K |
|
2059
Invesco S&P Global Water Index ETF
CGW
$1.07B
| $8.63M | ﹤0.01% |
136,888
+5,218
| +4% | +$334K |
|
|
LVDS
2060
JPMorgan Fundamental Data Science Large Value ETF
LVDS
$113M
| $8.63M | ﹤0.01% |
173,674
-9,318
| -5% | -$480K |
|
2061
PTC
PTC
$16.4B
| $8.61M | ﹤0.01% |
49,437
+7,824
| +19% | +$1.45M |
|
2062
Estee Lauder
EL
$31.5B
| $8.6M | ﹤0.01% |
82,104
+9,750
| +13% | +$946K |
|
2063
Lennox International
LII
$14.6B
| $8.6M | ﹤0.01% |
17,702
-610
| -3% | -$306K |
|
|
JPUS
2064
JPMorgan Diversified Return US Equity ETF
JPUS
$464M
| $8.59M | ﹤0.01% |
69,305
+5,577
| +9% | +$689K |
|
2065
Pacer Swan SOS Fund of Funds ETF
PSFF
$597M
| $8.59M | ﹤0.01% |
265,569
-16,138
| -6% | -$515K |
|
2066
State Street SPDR US Small Cap Low Volatility Index ETF
SMLV
$258M
| $8.58M | ﹤0.01% |
65,447
+3,146
| +5% | +$408K |
|
2067
Global Ship Lease
GSL
$1.51B
| $8.58M | ﹤0.01% |
244,741
-8,350
| -3% | -$271K |
|
|
ETG
2068
Eaton Vance Tax-Advantaged Global Dividend Income Fund
ETG
$1.86B
| $8.54M | ﹤0.01% |
369,703
+8,665
| +2% | +$190K |
|
|
POWR
2069
iShares U.S. Power Infrastructure ETF
POWR
$457M
| $8.52M | ﹤0.01% |
361,991
+11,870
| +3% | +$297K |
|
2070
Guidewire Software
GWRE
$14.4B
| $8.5M | ﹤0.01% |
42,306
+1,575
| +4% | +$348K |
|
2071
iShares MSCI Singapore ETF
EWS
$1.15B
| $8.48M | ﹤0.01% |
308,306
-49,163
| -14% | -$1.38M |
|
2072
Reliance Steel & Aluminium
RS
$21.9B
| $8.48M | ﹤0.01% |
29,351
+2,665
| +10% | +$749K |
|
|
ABVX
2073
Abivax
ABVX
$11.1B
| $8.47M | ﹤0.01% |
62,842
+33,595
| +115% | +$3.67M |
|
2074
iShares Core MSCI Pacific ETF
IPAC
$2.74B
| $8.47M | ﹤0.01% |
115,635
+10,411
| +10% | +$772K |
|
2075
Invesco S&P SmallCap 600 Pure Value ETF
RZV
$304M
| $8.46M | ﹤0.01% |
71,170
-22,868
| -24% | -$2.71M |
|
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.