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 | |
|---|---|---|---|---|---|---|
301
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $205M | 0.06% |
2,521,717
+370,732
| +17% | +$29.9M |
|
302
ASML
ASML
$596B
| $204M | 0.06% |
210,754
+12,182
| +6% | +$9.58M |
|
303
iShares Expanded Tech Sector ETF
IGM
$9.57B
| $203M | 0.06% |
1,608,857
+414,525
| +35% | +$48.9M |
|
304
Deere & Co
DE
$165B
| $202M | 0.06% |
440,960
+25,923
| +6% | +$12.8M |
|
305
Avantis Emerging Markets Equity ETF
AVEM
$24.4B
| $201M | 0.06% |
2,679,552
+675,621
| +34% | +$48.3M |
|
306
iShares MSCI Intl Quality Factor ETF
IQLT
$13.6B
| $200M | 0.06% |
4,537,037
+255,508
| +6% | +$11M |
|
307
Global X Artificial Intelligence & Technology ETF
AIQ
$8.89B
| $199M | 0.06% |
4,033,297
+1,140,455
| +39% | +$51.9M |
|
308
Shopify
SHOP
$168B
| $198M | 0.06% |
1,332,140
+70,610
| +6% | +$9.57M |
|
309
State Street SPDR Portfolio S&P 500 High Dividend ETF
SPYD
$7.76B
| $197M | 0.06% |
4,480,983
+53,452
| +1% | +$2.34M |
|
310
Vanguard Health Care ETF
VHT
$18.5B
| $196M | 0.06% |
754,771
+3,070
| +0.4% | +$770K |
|
311
iShares Russell 3000 ETF
IWV
$19.2B
| $194M | 0.06% |
512,894
+12,324
| +2% | +$4.49M |
|
312
Micron Technology
MU
$835B
| $194M | 0.06% |
1,160,290
+151,210
| +15% | +$19.3M |
|
313
Intuitive Surgical
ISRG
$127B
| $193M | 0.06% |
432,296
-51,235
| -11% | -$24.6M |
|
314
JPMorgan Municipal ETF
JMUB
$8.32B
| $193M | 0.06% |
3,829,411
+801,829
| +26% | +$39.8M |
|
315
General Dynamics
GD
$103B
| $193M | 0.06% |
565,313
+45,841
| +9% | +$14.4M |
|
316
Global X NASDAQ-100 Covered Call ETF
QYLD
$7.88B
| $192M | 0.06% |
11,274,548
-397,229
| -3% | -$6.67M |
|
317
Applovin
APP
$134B
| $192M | 0.06% |
266,853
+23,551
| +10% | +$10.9M |
|
318
Northrop Grumman
NOC
$76B
| $191M | 0.06% |
313,345
+17,497
| +6% | +$9.92M |
|
319
Automatic Data Processing
ADP
$109B
| $190M | 0.06% |
647,291
+26,725
| +4% | +$8.04M |
|
320
iShares Morningstar Mid-Cap Growth ETF
IMCG
$3.88B
| $189M | 0.06% |
2,288,288
+154,801
| +7% | +$12.6M |
|
321
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.2B
| $189M | 0.06% |
5,009,197
+632,823
| +14% | +$23.7M |
|
322
First Trust Growth Strength ETF
FTGS
$1.28B
| $188M | 0.05% |
5,238,678
+195,125
| +4% | +$6.85M |
|
323
ARK Innovation ETF
ARKK
$5.59B
| $188M | 0.05% |
2,175,652
+54,150
| +3% | +$4.14M |
|
324
Vanguard Morningstar Mid-Cap Value ETF
VOE
$23.9B
| $188M | 0.05% |
1,075,440
+11,478
| +1% | +$1.95M |
|
325
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$11.5B
| $188M | 0.05% |
7,835,083
+1,263,637
| +19% | +$30M |
|
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.