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 Core S&P 500 ETF
IVV
|
+$503M |
| 2 |
iShares S&P 100 ETF
OEF
|
+$496M |
| 3 |
BlackRock US Equity Factor Rotation ETF
DYNF
|
+$494M |
| 4 |
Capital Group Dividend Value ETF
CGDV
|
+$400M |
| 5 |
BDYN
iShares Dynamic Equity Active ETF
BDYN
|
+$388M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI EAFE Growth ETF
EFG
|
+$383M |
| 2 |
iShares US Technology ETF
IYW
|
+$332M |
| 3 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$177M |
| 4 |
iShares MSCI EAFE Value ETF
EFV
|
+$130M |
| 5 |
iShares Core Universal USD Bond ETF
IUSB
|
+$125M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 8.85% |
| 2 | Financials | 3.63% |
| 3 | Consumer Discretionary | 2.79% |
| 4 | Communication Services | 2.54% |
| 5 | Industrials | 2.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
American Express
AXP
$224B
| $278M | 0.08% |
836,579
+66,145
| +9% | +$21M |
|
227
iShares Semiconductor ETF
SOXX
$38.4B
| $277M | 0.08% |
1,022,745
+2,345
| +0.2% | +$585K |
|
228
First Trust Dorsey Wright Focus 5 ETF
FV
$3.57B
| $277M | 0.08% |
4,466,771
+48,950
| +1% | +$2.98M |
|
229
First Trust NASDAQ Technology Dividend Index Fund
TDIV
$4.05B
| $275M | 0.08% |
2,794,292
+191,294
| +7% | +$17.9M |
|
230
State Street US Sector Rotation ETF
XLSR
$983M
| $275M | 0.08% |
4,620,863
+30,714
| +0.7% | +$1.75M |
|
231
FT Vest Fund of Nasdaq-100 Buffer ETFs
BUFQ
$1.47B
| $274M | 0.08% |
7,850,790
-515,663
| -6% | -$17.5M |
|
232
VanEck Gold Miners ETF
GDX
$22.5B
| $273M | 0.08% |
3,570,404
+375,322
| +12% | +$22.6M |
|
233
Walt Disney
DIS
$171B
| $272M | 0.08% |
2,377,304
+234,734
| +11% | +$27.6M |
|
234
Southern Company
SO
$108B
| $271M | 0.08% |
2,864,009
+394,122
| +16% | +$36.8M |
|
235
John Hancock Multifactor Mid Cap ETF
JHMM
$5.88B
| $271M | 0.08% |
4,191,974
-28,715
| -0.7% | -$1.81M |
|
236
Boeing
BA
$169B
| $271M | 0.08% |
1,256,431
+64,831
| +5% | +$14.6M |
|
237
First Trust Smith Unconstrained Bond ETF
UCON
$3.26B
| $268M | 0.08% |
10,650,535
-466,054
| -4% | -$11.6M |
|
238
Vanguard Morningstar Small-Cap Growth ETF
VBK
$22.7B
| $268M | 0.08% |
899,840
+32,708
| +4% | +$9.44M |
|
239
Capital Group Dividend Growers ETF
CGDG
$5.4B
| $268M | 0.08% |
7,721,601
+2,155,966
| +39% | +$73.4M |
|
240
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.7B
| $267M | 0.08% |
3,345,558
+46,750
| +1% | +$3.72M |
|
241
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.5B
| $267M | 0.08% |
9,905,048
+523,102
| +6% | +$13.8M |
|
242
Invesco S&P 500 Low Volatility ETF
SPLV
$7.24B
| $266M | 0.08% |
3,622,014
-631,970
| -15% | -$46.2M |
|
243
Abbott
ABT
$187B
| $265M | 0.08% |
1,975,661
+67,007
| +4% | +$8.8M |
|
244
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
| $263M | 0.08% |
2,203,954
+329,580
| +18% | +$39.2M |
|
245
Eaton
ETN
$141B
| $262M | 0.08% |
700,820
+40,936
| +6% | +$14.9M |
|
246
Invesco Ultra Short Duration ETF
GSY
$3.86B
| $262M | 0.08% |
5,220,602
+1,401,509
| +37% | +$70.4M |
|
247
Qualcomm
QCOM
$164B
| $260M | 0.08% |
1,565,301
-16,652
| -1% | -$2.64M |
|
248
Invesco Aerospace & Defense ETF
PPA
$8.07B
| $259M | 0.08% |
1,668,742
+66,273
| +4% | +$9.75M |
|
249
First Trust Preferred Securities and Income ETF
FPE
$6.3B
| $259M | 0.08% |
14,184,059
+335,384
| +2% | +$6.06M |
|
250
FT Vest Fund of Deep Buffer ETFs
BUFD
$1.92B
| $258M | 0.08% |
9,328,037
+1,261,672
| +16% | +$34.2M |
|
Similar funds
LPL Financial's Q3 2025 Portfolio in Review
As of Q3 2025, LPL Financial held 6,030 positions worth $343B, up 14% from $300B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $23B of net new capital in Q3 2025, opening 481 new positions and adding to 3,569 existing holdings. Its largest new stake was iShares Dynamic Equity Active ETF: 15,367,303 shares worth $389M.
By sector, the portfolio is most concentrated in Technology at 8.8% of assets, up from 8.5% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was iShares MSCI EAFE Growth ETF, an estimated $383M trimmed.
- LPL Financial's largest Q3 2025 buy was iShares Dynamic Equity Active ETF: 15,367,303 shares worth $389M.
- LPL Financial added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $503M increase.
- LPL Financial's biggest Q3 2025 reduction was iShares MSCI EAFE Growth ETF, cutting an estimated $383M.
- LPL Financial fully exited Hess in Q3 2025, selling an estimated $6.48M.
- LPL Financial's ten largest holdings make up 15% of its $343B portfolio in Q3 2025.
- LPL Financial opened 481 new positions and closed 237 in Q3 2025.
- LPL Financial's portfolio value rose 14% quarter-over-quarter to $343B.
Based on LPL Financial's 13F filing for Q3 2025, filed 12 Nov 2025.