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 | |
|---|---|---|---|---|---|---|
2776
Aurinia Pharmaceuticals
AUPH
$1.95B
| $3.57M | ﹤0.01% |
323,306
+262,295
| +430% | +$2.86M |
|
2777
Tanger
SKT
$4.66B
| $3.57M | ﹤0.01% |
105,484
+339
| +0.3% | +$11.1K |
|
2778
Chord Energy
CHRD
$7.32B
| $3.57M | ﹤0.01% |
35,898
+20,855
| +139% | +$2.19M |
|
2779
Delek US
DK
$3.66B
| $3.57M | ﹤0.01% |
110,537
+14,944
| +16% | +$390K |
|
|
RFI
2780
Cohen & Steers Total Return Realty Fund
RFI
$308M
| $3.57M | ﹤0.01% |
294,689
+18,295
| +7% | +$219K |
|
2781
Pitney Bowes
PBI
$2.51B
| $3.56M | ﹤0.01% |
312,376
+18,013
| +6% | +$210K |
|
2782
SBA Communications
SBAC
$18.9B
| $3.56M | ﹤0.01% |
18,423
-2,799
| -13% | -$606K |
|
2783
Transmedics
TMDX
$2.64B
| $3.55M | ﹤0.01% |
31,677
+9,321
| +42% | +$1.09M |
|
2784
Papa John's
PZZA
$979M
| $3.55M | ﹤0.01% |
73,757
-18,490
| -20% | -$856K |
|
|
NVMI
2785
Nova
NVMI
$12.8B
| $3.54M | ﹤0.01% |
11,086
+1,647
| +17% | +$455K |
|
2786
CALL
Invesco QQQ Trust
QQQ
$480B
| $3.54M | ﹤0.01% |
5,900
-1,400
| -19% | -$802K |
|
2787
BlackRock Utilities, Infrastructure & Power Opportunities Trust
BUI
$726M
| $3.54M | ﹤0.01% |
135,276
+76,431
| +130% | +$2.02M |
|
2788
Maplebear
CART
$10.7B
| $3.53M | ﹤0.01% |
96,161
+31,800
| +49% | +$1.46M |
|
2789
Cambria Value and Momentum ETF
VAMO
$109M
| $3.53M | ﹤0.01% |
105,773
+16,372
| +18% | +$518K |
|
2790
Skywest
SKYW
$4.6B
| $3.53M | ﹤0.01% |
35,075
-5,232
| -13% | -$584K |
|
2791
Strategic Trust Running Oak Efficient Growth ETF
RUNN
$406M
| $3.52M | ﹤0.01% |
102,854
+14,237
| +16% | +$488K |
|
2792
Harbor Human Capital Factor US Large Cap ETF
HAPI
$505M
| $3.52M | ﹤0.01% |
87,521
+2,568
| +3% | +$101K |
|
2793
Innovator US Equity Buffer ETF October
BOCT
$289M
| $3.52M | ﹤0.01% |
72,761
-2,728
| -4% | -$128K |
|
|
CPZ
2794
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$266M
| $3.52M | ﹤0.01% |
217,785
+62,354
| +40% | +$1.03M |
|
2795
Camden Property Trust
CPT
$11.1B
| $3.52M | ﹤0.01% |
32,930
-817
| -2% | -$89.8K |
|
|
PML
2796
PIMCO Municipal Income Fund II
PML
$485M
| $3.51M | ﹤0.01% |
444,166
+256,130
| +136% | +$1.89M |
|
2797
Aurora
AUR
$13.1B
| $3.51M | ﹤0.01% |
651,692
+53,060
| +9% | +$311K |
|
2798
STF Tactical Growth ETF
TUG
$33.9M
| $3.51M | ﹤0.01% |
89,552
+777
| +0.9% | +$29.1K |
|
|
ETO
2799
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund
ETO
$516M
| $3.5M | ﹤0.01% |
127,059
+5,172
| +4% | +$142K |
|
2800
iShares iBonds Dec 2032 Term Treasury ETF
IBTM
$560M
| $3.5M | ﹤0.01% |
151,219
+52,063
| +53% | +$1.2M |
|
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.