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 | |
|---|---|---|---|---|---|---|
401
Invesco Variable Rate Investment Grade ETF
VRIG
$1.8B
| $145M | 0.04% |
5,776,851
+499,727
| +9% | +$12.5M |
|
402
Accenture
ACN
$106B
| $145M | 0.04% |
586,943
-113,190
| -16% | -$29.5M |
|
403
Invesco BulletShares 2026 Corporate Bond ETF
BSCQ
$3.66B
| $144M | 0.04% |
7,385,738
+744,672
| +11% | +$14.6M |
|
404
State Street DoubleLine Total Return Tactical ETF
TOTL
$4.1B
| $144M | 0.04% |
3,559,374
+363,329
| +11% | +$14.6M |
|
405
iMGP DBi Managed Futures Strategy ETF
DBMF
$4B
| $144M | 0.04% |
5,282,477
+125,489
| +2% | +$3.28M |
|
406
Capital Group Municipal Income ETF
CGMU
$6.4B
| $144M | 0.04% |
5,277,094
+1,603,786
| +44% | +$43.1M |
|
407
iShares Short Maturity Bond ETF
NEAR
$4.82B
| $144M | 0.04% |
2,800,567
+238,106
| +9% | +$12.2M |
|
408
iShares Core Dividend ETF
DIVB
$1.71B
| $143M | 0.04% |
2,735,252
+480,391
| +21% | +$24.6M |
|
409
iShares TIPS Bond ETF
TIP
$14.5B
| $143M | 0.04% |
1,283,227
+140,811
| +12% | +$15.6M |
|
410
Vanguard Total World Stock ETF
VT
$75.3B
| $143M | 0.04% |
1,034,901
+52,605
| +5% | +$6.99M |
|
411
iShares Currency Hedged MSCI EAFE ETF
HEFA
$7.45B
| $142M | 0.04% |
3,573,620
-1,837,898
| -34% | -$70.8M |
|
412
Invesco S&P SmallCap 600 Revenue ETF
RWJ
$2.08B
| $141M | 0.04% |
2,926,237
+219,994
| +8% | +$10.2M |
|
413
iShares MSCI Emerging Markets ex China ETF
EMXC
$22.1B
| $141M | 0.04% |
2,087,143
-757,110
| -27% | -$48.9M |
|
414
US Bancorp
USB
$97.9B
| $140M | 0.04% |
2,902,200
+215,327
| +8% | +$10.2M |
|
415
United Parcel Service
UPS
$88.9B
| $140M | 0.04% |
1,673,522
-15,379
| -0.9% | -$1.39M |
|
416
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.41B
| $140M | 0.04% |
1,543,589
+128,298
| +9% | +$11M |
|
417
Fidelity Enhanced Mid Cap Core ETF
FMDE
$7.68B
| $139M | 0.04% |
3,856,740
+1,251,087
| +48% | +$44.3M |
|
418
iShares S&P Mid-Cap 400 Growth ETF
IJK
$10.6B
| $139M | 0.04% |
1,450,581
-113,192
| -7% | -$10.7M |
|
419
First Trust NASDAQ-100 Technology Index Fund
QTEC
$4.33B
| $139M | 0.04% |
605,188
+17,072
| +3% | +$3.7M |
|
420
Progressive
PGR
$128B
| $139M | 0.04% |
562,269
+32,046
| +6% | +$7.9M |
|
421
KLA
KLAC
$222B
| $139M | 0.04% |
1,285,930
+53,950
| +4% | +$5.03M |
|
422
Prologis
PLD
$136B
| $138M | 0.04% |
1,203,000
+186,134
| +18% | +$20.5M |
|
423
Xcel Energy
XEL
$49.2B
| $138M | 0.04% |
1,705,340
+54,387
| +3% | +$3.93M |
|
424
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23B
| $136M | 0.04% |
2,563,558
+414,628
| +19% | +$21.9M |
|
425
First Trust Limited Duration Investment Grade Corporate ETF
FSIG
$1.51B
| $136M | 0.04% |
7,062,431
+31,928
| +0.5% | +$612K |
|
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.