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 | |
|---|---|---|---|---|---|---|
276
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
| $235M | 0.07% |
2,467,782
+133,841
| +6% | +$12.5M |
|
277
iShares Floating Rate Bond ETF
FLOT
$10.2B
| $234M | 0.07% |
4,573,821
-31,407
| -0.7% | -$1.6M |
|
|
LRGG
278
Nomura Focused Large Growth ETF
LRGG
$306M
| $232M | 0.07% |
7,729,680
+313,060
| +4% | +$9.25M |
|
279
SPDR Gold MiniShares Trust
GLDM
$27.5B
| $231M | 0.07% |
3,021,531
+369,318
| +14% | +$25.3M |
|
280
Wells Fargo
WFC
$254B
| $230M | 0.07% |
2,740,072
+191,840
| +8% | +$15.6M |
|
281
Blackstone
BX
$104B
| $224M | 0.07% |
1,313,000
+122,984
| +10% | +$21.1M |
|
282
Global X Defense Tech ETF
SHLD
$6.92B
| $224M | 0.07% |
3,191,550
+1,195,874
| +60% | +$75.1M |
|
283
First Trust Dow Jones Internet Index Fund ETF
FDN
$4.99B
| $222M | 0.06% |
794,451
+54,423
| +7% | +$14.9M |
|
284
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.1B
| $217M | 0.06% |
4,666,723
+273,603
| +6% | +$12.4M |
|
285
Schwab US Large- Cap ETF
SCHX
$70.3B
| $217M | 0.06% |
8,219,560
+1,175,645
| +17% | +$29.9M |
|
286
PIMCO Active Bond Exchange-Traded Fund
BOND
$8.4B
| $215M | 0.06% |
2,308,420
+231,794
| +11% | +$21.4M |
|
287
Truist Financial
TFC
$63.9B
| $214M | 0.06% |
4,686,207
+298,869
| +7% | +$13.5M |
|
288
iShares Expanded Tech-Software Sector ETF
IGV
$12.4B
| $214M | 0.06% |
1,861,029
-375,292
| -17% | -$41.5M |
|
289
Citigroup
C
$213B
| $214M | 0.06% |
2,108,630
+238,419
| +13% | +$22.6M |
|
290
Invesco Total Return Bond ETF
GTO
$2.42B
| $213M | 0.06% |
4,480,330
+436,721
| +11% | +$20.5M |
|
291
Vanguard Extended Market ETF
VXF
$30B
| $212M | 0.06% |
1,013,692
+25,483
| +3% | +$5.16M |
|
292
Vanguard Long-Term Bond ETF
BLV
$5.74B
| $212M | 0.06% |
2,988,323
-687,329
| -19% | -$47.7M |
|
293
VanEck Uranium + Nuclear Energy ETF
NLR
$3.67B
| $211M | 0.06% |
1,558,796
+604,031
| +63% | +$72M |
|
294
Waste Management
WM
$95B
| $210M | 0.06% |
952,905
+77,295
| +9% | +$17.4M |
|
295
GE Vernova
GEV
$240B
| $210M | 0.06% |
341,181
+36,059
| +12% | +$21.8M |
|
296
Invesco S&P International Developed Momentum ETF
IDMO
$3.91B
| $209M | 0.06% |
3,871,573
+1,788,880
| +86% | +$93.5M |
|
297
WisdomTree US Value Fund
WTV
$3.23B
| $209M | 0.06% |
2,294,871
+287,458
| +14% | +$25.6M |
|
298
WisdomTree International Hedged Quality Dividend Growth Fund
IHDG
$2.2B
| $209M | 0.06% |
4,530,817
-700,527
| -13% | -$31.8M |
|
299
Strategy Inc
MSTR
$34.1B
| $207M | 0.06% |
643,558
-7,645
| -1% | -$2.84M |
|
300
Vanguard Real Estate ETF
VNQ
$39.9B
| $205M | 0.06% |
2,240,274
+144,710
| +7% | +$13.1M |
|
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.