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 | |
|---|---|---|---|---|---|---|
351
Texas Instruments
TXN
$255B
| $171M | 0.05% |
930,876
+146,643
| +19% | +$28.7M |
|
352
Vanguard International High Dividend Yield ETF
VYMI
$20.7B
| $169M | 0.05% |
1,996,579
+348,010
| +21% | +$28.8M |
|
353
iShares Russell Mid-Cap Value ETF
IWS
$15.6B
| $168M | 0.05% |
1,203,672
+39,375
| +3% | +$5.38M |
|
354
Intuit
INTU
$86.3B
| $166M | 0.05% |
242,812
+19,107
| +9% | +$13.8M |
|
355
Franklin International Core Dividend Tilt Index ETF
DIVI
$2.72B
| $165M | 0.05% |
4,418,567
+513,117
| +13% | +$18.7M |
|
|
SCHW
356
Charles Schwab
SCHW
$181B
| $164M | 0.05% |
1,712,712
+154,474
| +10% | +$14.7M |
|
357
Boston Scientific
BSX
$68.4B
| $163M | 0.05% |
1,671,110
+66,669
| +4% | +$6.9M |
|
358
Invesco Russell 1000 Dynamic Multifactor ETF
OMFL
$4.74B
| $163M | 0.05% |
2,707,095
-34,733
| -1% | -$2.04M |
|
359
State Street SPDR S&P 400 Mid Cap Growth ETF
MDYG
$2.81B
| $163M | 0.05% |
1,775,035
-23,981
| -1% | -$2.16M |
|
360
State Street SPDR Portfolio MSCI Global Stock Market ETF
SPGM
$1.71B
| $162M | 0.05% |
2,157,032
-471,240
| -18% | -$33.8M |
|
361
Medtronic
MDT
$110B
| $161M | 0.05% |
1,692,710
+300,861
| +22% | +$27.7M |
|
362
iShares Bitcoin Trust
IBIT
$48.1B
| $161M | 0.05% |
2,479,205
+678,853
| +38% | +$44.2M |
|
363
Goldman Sachs Access Treasury 0-1 Year ETF
GBIL
$7.64B
| $161M | 0.05% |
1,603,155
+198,758
| +14% | +$19.9M |
|
364
PNC Financial Services
PNC
$99.2B
| $160M | 0.05% |
798,239
+39,670
| +5% | +$7.85M |
|
365
Linde
LIN
$235B
| $160M | 0.05% |
336,761
+22,211
| +7% | +$10.5M |
|
366
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
| $160M | 0.05% |
2,717,798
+389,135
| +17% | +$22.8M |
|
367
CP High Yield Trend ETF
HYTR
$290M
| $160M | 0.05% |
7,293,374
+1,393,073
| +24% | +$30.4M |
|
368
Adobe
ADBE
$98.5B
| $159M | 0.05% |
450,678
+7,826
| +2% | +$2.81M |
|
|
HIMU
369
iShares High Yield Muni Active ETF
HIMU
$2.38B
| $159M | 0.05% |
3,227,169
+1,301,887
| +68% | +$62.5M |
|
|
VPU
370
Vanguard Utilities ETF
VPU
$8.52B
| $158M | 0.05% |
832,609
+97,802
| +13% | +$17.9M |
|
371
Illinois Tool Works
ITW
$81.6B
| $157M | 0.05% |
603,691
+64,542
| +12% | +$16.8M |
|
372
First Trust Long/Short Equity ETF
FTLS
$2.47B
| $157M | 0.05% |
2,247,880
-115,507
| -5% | -$7.79M |
|
373
Realty Income
O
$60.1B
| $157M | 0.05% |
2,576,953
+106,214
| +4% | +$6.19M |
|
374
Emerson Electric
EMR
$83.3B
| $156M | 0.05% |
1,192,557
+140,569
| +13% | +$19.2M |
|
375
Invesco Large Cap Growth ETF
PWB
$2.27B
| $156M | 0.05% |
1,240,537
+175,648
| +16% | +$21M |
|
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.