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 | |
|---|---|---|---|---|---|---|
|
SEZL
2551
Sezzle
SEZL
$6.11B
| $4.56M | ﹤0.01% |
57,380
+5,213
| +10% | +$598K |
|
2552
iShares MSCI Netherlands ETF
EWN
$634M
| $4.56M | ﹤0.01% |
78,647
+68,775
| +697% | +$3.71M |
|
2553
GraniteShares HIPS US High Income ETF
HIPS
$111M
| $4.56M | ﹤0.01% |
386,877
+14,668
| +4% | +$179K |
|
2554
iShares ESG Advanced MSCI EAFE ETF
DMXF
$1.02B
| $4.56M | ﹤0.01% |
60,164
-284,251
| -83% | -$21.2M |
|
2555
iShares International Treasury Bond ETF
IGOV
$1.54B
| $4.55M | ﹤0.01% |
106,916
-76,950
| -42% | -$3.26M |
|
|
FCT
2556
First Trust Senior Floating Rate Income Fund II
FCT
$250M
| $4.55M | ﹤0.01% |
455,254
-26,141
| -5% | -$264K |
|
2557
FT Vest US Equity Deep Buffer ETF November
DNOV
$400M
| $4.55M | ﹤0.01% |
97,213
+25,092
| +35% | +$1.15M |
|
|
HPS
2558
John Hancock Preferred Income Fund III
HPS
$460M
| $4.54M | ﹤0.01% |
294,198
+5,155
| +2% | +$75.8K |
|
2559
Thomson Reuters
TRI
$44B
| $4.54M | ﹤0.01% |
28,789
-8,659
| -23% | -$1.62M |
|
|
KTF
2560
DWS Municipal Income Trust
KTF
$351M
| $4.54M | ﹤0.01% |
495,046
+423,198
| +589% | +$3.73M |
|
2561
iShares iBonds Dec 2029 Term Muni Bond ETF
IBMR
$469M
| $4.54M | ﹤0.01% |
177,746
+14,527
| +9% | +$369K |
|
2562
Enpro
NPO
$7.07B
| $4.54M | ﹤0.01% |
20,074
-2,250
| -10% | -$486K |
|
2563
Ovintiv
OVV
$16.4B
| $4.53M | ﹤0.01% |
112,114
+31,478
| +39% | +$1.28M |
|
2564
Blackstone Mortgage Trust
BXMT
$2.38B
| $4.53M | ﹤0.01% |
245,856
+4,943
| +2% | +$95.4K |
|
|
FBDC
2565
FT Confluence BDC & Specialty Finance Income ETF
FBDC
$34.5M
| $4.52M | ﹤0.01% |
228,627
-24,563
| -10% | -$520K |
|
2566
Teck Resources
TECK
$32.4B
| $4.52M | ﹤0.01% |
102,900
-56,230
| -35% | -$2.04M |
|
2567
SoFi Select 500 ETF
SFY
$687M
| $4.51M | ﹤0.01% |
34,914
+4,791
| +16% | +$591K |
|
2568
Brown-Forman Class B
BF.B
$13.1B
| $4.5M | ﹤0.01% |
166,156
+15,062
| +10% | +$437K |
|
2569
iShares MSCI Kokusai Fund
TOK
$257M
| $4.49M | ﹤0.01% |
33,240
+106
| +0.3% | +$13.8K |
|
2570
News Corp Class B
NWS
$17.4B
| $4.48M | ﹤0.01% |
129,804
+21,475
| +20% | +$725K |
|
2571
FlexShares iBoxx 3-Year Target Duration TIPS Index Fund
TDTT
$2.52B
| $4.47M | ﹤0.01% |
183,929
+5,990
| +3% | +$145K |
|
2572
Viper Energy
VNOM
$8.18B
| $4.47M | ﹤0.01% |
116,977
+37,095
| +46% | +$1.41M |
|
2573
Moelis & Co
MC
$5.14B
| $4.47M | ﹤0.01% |
62,673
+3,968
| +7% | +$283K |
|
2574
Zeta Global
ZETA
$6.71B
| $4.47M | ﹤0.01% |
224,947
+25,204
| +13% | +$453K |
|
2575
TransUnion
TRU
$15.1B
| $4.46M | ﹤0.01% |
53,278
-9,704
| -15% | -$881K |
|
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.