Dodge & Cox Discloses New 5.2% Stake in LPL Financial Holdings Inc. (LPLA)

On May 14, 2026, Dodge & Cox filed a Schedule 13G with the SEC, reporting a new significant ownership stake in LPL Financial Holdings Inc. (LPLA). As of the event date on March 31, 2026, the investment management firm disclosed beneficial ownership of 4,146,547 shares of common stock, representing a 5.2% ownership interest in the company. The filing indicates that Dodge & Cox holds sole dispositive power over all 4,146,547 shares and sole voting power over 3,905,059 shares. This position was previously reported as zero, marking a substantial new entry into the stock. The securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. Various clients of Dodge & Cox, including registered investment companies and managed accounts, maintain the right to receive dividends and proceeds from the sale of these shares. This move establishes Dodge & Cox as a major institutional shareholder in the San Diego-based financial services firm.