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 | |
|---|---|---|---|---|---|---|
2151
Rambus
RMBS
$10.4B
| $7.77M | ﹤0.01% |
84,535
-16,066
| -16% | -$1.58M |
|
2152
Simplify US Equity PLUS GBTC ETF
SPBC
$43M
| $7.75M | ﹤0.01% |
173,245
-221,192
| -56% | -$9.91M |
|
2153
Schwab 1000 Index ETF
SCHK
$5.93B
| $7.74M | ﹤0.01% |
236,115
+25,697
| +12% | +$836K |
|
2154
iShares 25+ Year Treasury STRIPS Bond ETF
GOVZ
$258M
| $7.74M | ﹤0.01% |
209,130
+187,655
| +874% | +$7.29M |
|
2155
FT Vest US Equity Moderate Buffer ETF May
GMAY
$542M
| $7.74M | ﹤0.01% |
187,381
+14,847
| +9% | +$606K |
|
2156
Global X MSCI Argentina ETF
ARGT
$830M
| $7.74M | ﹤0.01% |
84,631
-8,548
| -9% | -$730K |
|
2157
Charter Communications
CHTR
$18.3B
| $7.74M | ﹤0.01% |
37,055
+10,059
| +37% | +$2.26M |
|
2158
Absolute Select Value ETF
ABEQ
$145M
| $7.7M | ﹤0.01% |
214,652
+33,931
| +19% | +$1.21M |
|
2159
Gildan
GIL
$10.6B
| $7.69M | ﹤0.01% |
123,190
+58,343
| +90% | +$3.47M |
|
2160
US Foods
USFD
$23.9B
| $7.69M | ﹤0.01% |
102,115
+3,879
| +4% | +$291K |
|
2161
VanEck Short High Yield Muni ETF
SHYD
$455M
| $7.68M | ﹤0.01% |
335,339
+18,696
| +6% | +$427K |
|
2162
American Century US Quality Value ETF
VALQ
$340M
| $7.68M | ﹤0.01% |
116,116
-8,143
| -7% | -$529K |
|
2163
Astrana Health
ASTH
$1.86B
| $7.67M | ﹤0.01% |
309,125
+131,091
| +74% | +$3.48M |
|
2164
ITT
ITT
$18.9B
| $7.66M | ﹤0.01% |
44,168
+1,356
| +3% | +$243K |
|
2165
State Street Global Allocation ETF
GAL
$315M
| $7.66M | ﹤0.01% |
154,975
-11,697
| -7% | -$581K |
|
2166
FlexShares Morningstar US Market Factors Tilt Index Fund
TILT
$2.25B
| $7.65M | ﹤0.01% |
30,778
-1,209
| -4% | -$297K |
|
2167
Harbor Ares Systematic High Yield ETF
SIHY
$149M
| $7.65M | ﹤0.01% |
167,551
+9,147
| +6% | +$420K |
|
2168
Modine Manufacturing
MOD
$10.1B
| $7.65M | ﹤0.01% |
57,271
+2,658
| +5% | +$396K |
|
2169
ATI
ATI
$31.1B
| $7.65M | ﹤0.01% |
66,626
-10,148
| -13% | -$989K |
|
|
GUSE
2170
Goldman Sachs Enhanced U.S. Equity ETF
GUSE
$370M
| $7.64M | ﹤0.01% |
+188,904
| New | +$7.63M |
|
|
CHI
2171
Calamos Convertible Opportunities and Income Fund
CHI
$1.06B
| $7.64M | ﹤0.01% |
729,256
+23,035
| +3% | +$251K |
|
2172
Roivant Sciences
ROIV
$25.8B
| $7.63M | ﹤0.01% |
351,467
+239,247
| +213% | +$4.72M |
|
2173
iShares US Digital Infrastructure and Real Estate ETF
IDGT
$519M
| $7.62M | ﹤0.01% |
89,657
+14,164
| +19% | +$1.23M |
|
|
GTOP
2174
Goldman Sachs Technology Opportunities ETF
GTOP
$732M
| $7.62M | ﹤0.01% |
+192,827
| New | +$7.63M |
|
|
CHW
2175
Calamos Global Dynamic Income Fund
CHW
$555M
| $7.61M | ﹤0.01% |
1,026,645
+25,033
| +2% | +$187K |
|
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.