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 | |
|---|---|---|---|---|---|---|
326
TJX Companies
TJX
$179B
| $187M | 0.05% |
1,295,736
+124,703
| +11% | +$16.6M |
|
327
First Trust Core Investment Grade ETF
FTCB
$2.53B
| $187M | 0.05% |
8,764,125
+1,786,913
| +26% | +$37.7M |
|
328
Enbridge
ENB
$120B
| $187M | 0.05% |
3,700,620
+397,518
| +12% | +$18.7M |
|
329
Avantis US Large Cap Value ETF
AVLV
$17.8B
| $186M | 0.05% |
2,577,163
+216,115
| +9% | +$15.3M |
|
330
Pacer US Large Cap Cash Cows Growth Leaders ETF
COWG
$2.17B
| $185M | 0.05% |
5,083,594
+1,165,739
| +30% | +$41.2M |
|
331
Invesco S&P 100 Equal Weight ETF
EQWL
$2.69B
| $184M | 0.05% |
1,608,640
+521,501
| +48% | +$58.5M |
|
332
Invesco S&P 500 GARP ETF
SPGP
$2.25B
| $183M | 0.05% |
1,607,123
-634,684
| -28% | -$70.3M |
|
333
Avantis International Equity ETF
AVDE
$17.7B
| $182M | 0.05% |
2,304,985
+326,343
| +16% | +$24.9M |
|
|
GRID
334
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
GRID
$10.8B
| $181M | 0.05% |
1,195,839
+300,737
| +34% | +$43.3M |
|
335
Vanguard Consumer Staples ETF
VDC
$8.16B
| $180M | 0.05% |
843,636
+75,860
| +10% | +$16.6M |
|
336
Lam Research
LRCX
$316B
| $179M | 0.05% |
1,337,656
+36,155
| +3% | +$3.83M |
|
337
AB Ultra Short Income ETF
YEAR
$1.51B
| $179M | 0.05% |
3,533,525
+107,046
| +3% | +$5.41M |
|
338
First Trust Exchange-Traded Fund VI First Trust BuyWrite Income ETF
FTHI
$2.35B
| $179M | 0.05% |
7,540,031
+749,172
| +11% | +$17.4M |
|
339
Arista Networks
ANET
$199B
| $179M | 0.05% |
1,226,513
+36,845
| +3% | +$4.74M |
|
340
iShares Russell 2000 Value ETF
IWN
$14.3B
| $179M | 0.05% |
1,010,174
+6,199
| +0.6% | +$1.05M |
|
341
iShares Russell 2000 Growth ETF
IWO
$14.1B
| $177M | 0.05% |
552,665
+27,183
| +5% | +$8.2M |
|
342
Applied Materials
AMAT
$347B
| $176M | 0.05% |
861,815
+78,365
| +10% | +$14.2M |
|
343
Cummins
CMI
$83.6B
| $176M | 0.05% |
417,588
+58,722
| +16% | +$22.5M |
|
344
State Street Real Estate Select Sector SPDR ETF
XLRE
$8.72B
| $176M | 0.05% |
4,179,043
-36,697
| -0.9% | -$1.54M |
|
345
Franklin US Mid Cap Multifactor Index ETF
FLQM
$1.61B
| $174M | 0.05% |
3,090,503
-6,899
| -0.2% | -$385K |
|
346
iShares ESG Aware MSCI USA ETF
ESGU
$17.5B
| $172M | 0.05% |
1,184,521
+140,341
| +13% | +$19.7M |
|
347
JPMorgan BetaBuilders US Aggregate Bond ETF
BBAG
$1.02B
| $172M | 0.05% |
3,678,850
-54,969
| -1% | -$2.54M |
|
348
JPMorgan Hedged Equity Laddered Overlay ETF
HELO
$4.5B
| $172M | 0.05% |
2,639,997
+247,043
| +10% | +$15.8M |
|
349
Pacer US Small Cap Cash Cows 100 ETF
CALF
$3.75B
| $171M | 0.05% |
3,913,836
-555,532
| -12% | -$23.4M |
|
350
iShares MSCI Emerging Markets ETF
EEM
$27.5B
| $171M | 0.05% |
3,205,376
+475,087
| +17% | +$23.9M |
|
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.