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 | |
|---|---|---|---|---|---|---|
201
Capital Group Dividend Growers ETF
CGDG
$5.62B
| $344M | 0.09% |
9,651,113
+1,929,512
| +25% | +$67.9M |
|
202
Morgan Stanley
MS
$340B
| $343M | 0.09% |
1,929,475
-14,213
| -0.7% | -$2.37M |
|
203
American Express
AXP
$230B
| $341M | 0.09% |
921,908
+85,329
| +10% | +$30.5M |
|
204
iShares Treasury Floating Rate Bond ETF
TFLO
$6.64B
| $341M | 0.09% |
6,756,367
+426,615
| +7% | +$21.5M |
|
205
Salesforce
CRM
$158B
| $340M | 0.09% |
1,282,760
-99,882
| -7% | -$24.8M |
|
206
iShares Russell Mid-Cap ETF
IWR
$57.4B
| $339M | 0.09% |
3,520,066
+313,199
| +10% | +$30.1M |
|
207
iShares 0-1 Year Treasury Bond ETF
SHV
$20.6B
| $337M | 0.09% |
3,063,342
+479,397
| +19% | +$52.9M |
|
208
Vanguard Total International Stock ETF
VXUS
$160B
| $336M | 0.09% |
4,448,156
+424,875
| +11% | +$31.7M |
|
209
Amplify CWP Enhanced Dividend Income ETF
DIVO
$7.81B
| $331M | 0.09% |
7,447,779
+294,892
| +4% | +$13.3M |
|
210
Pfizer
PFE
$153B
| $330M | 0.09% |
13,269,480
+1,131,225
| +9% | +$28.5M |
|
211
ProShares S&P 500 Dividend Aristocrats ETF
NOBL
$12B
| $324M | 0.09% |
6,233,300
-178,174
| -3% | -$9.21M |
|
212
Pacer Trendpilot US Large Cap ETF
PTLC
$3.38B
| $321M | 0.09% |
5,784,151
+2,079
| +0% | +$116K |
|
213
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.6B
| $321M | 0.09% |
12,110,309
+2,205,261
| +22% | +$59.5M |
|
214
NextEra Energy
NEE
$177B
| $319M | 0.09% |
3,978,657
+175,736
| +5% | +$14.6M |
|
215
Union Pacific
UNP
$174B
| $317M | 0.09% |
1,371,839
+49,864
| +4% | +$11.4M |
|
216
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
| $316M | 0.09% |
4,062,381
-12,738
| -0.3% | -$994K |
|
217
WisdomTree US LargeCap Dividend Fund
DLN
$6.39B
| $315M | 0.09% |
3,575,342
+99,769
| +3% | +$8.71M |
|
218
iShares Semiconductor ETF
SOXX
$48.7B
| $314M | 0.09% |
1,041,783
+19,038
| +2% | +$5.61M |
|
219
First Trust Smith Opportunistic Fixed Income ETF
FIXD
$3.24B
| $314M | 0.09% |
7,076,780
+612,706
| +9% | +$27.3M |
|
220
CrowdStrike
CRWD
$218B
| $311M | 0.09% |
2,657,424
+139,324
| +6% | +$17.7M |
|
221
State Street SPDR S&P Aerospace & Defense ETF
XAR
$6.49B
| $310M | 0.08% |
1,286,887
+68,722
| +6% | +$16.3M |
|
222
First Trust Preferred Securities and Income ETF
FPE
$6.36B
| $306M | 0.08% |
16,820,824
+2,636,765
| +19% | +$48.2M |
|
223
First Trust Smith Unconstrained Bond ETF
UCON
$3.28B
| $306M | 0.08% |
12,160,045
+1,509,510
| +14% | +$38.1M |
|
224
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.9B
| $305M | 0.08% |
1,438,715
+8,609
| +0.6% | +$1.8M |
|
225
VanEck Gold Miners ETF
GDX
$27.4B
| $300M | 0.08% |
3,500,316
-70,088
| -2% | -$5.54M |
|
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.