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 | |
|---|---|---|---|---|---|---|
|
NBH
4251
Neuberger Municipal Fund Inc
NBH
$304M
| $776K | ﹤0.01% |
75,229
+10,726
| +17% | +$107K |
|
4252
Union Bankshares
UNB
$109M
| $774K | ﹤0.01% |
31,276
+1,160
| +4% | +$31K |
|
|
XIFR
4253
XPLR Infrastructure LP
XIFR
$1.08B
| $773K | ﹤0.01% |
76,000
+18,106
| +31% | +$175K |
|
4254
SEI QiM U.S. Large Cap Momentum Active ETF
SEIM
$1.46B
| $773K | ﹤0.01% |
17,019
+1,933
| +13% | +$83.9K |
|
4255
Capitol Federal Financial
CFFN
$1.1B
| $772K | ﹤0.01% |
121,651
+5,363
| +5% | +$33.5K |
|
4256
Aspen Aerogels
ASPN
$518M
| $772K | ﹤0.01% |
110,857
+67,073
| +153% | +$473K |
|
4257
SGI US Large Cap Core ETF
SGLC
$213M
| $771K | ﹤0.01% |
20,976
-5,467
| -21% | -$193K |
|
4258
Marcus & Millichap
MMI
$1.19B
| $769K | ﹤0.01% |
26,203
+2,489
| +10% | +$78.2K |
|
4259
Navigator Holdings
NVGS
$1.28B
| $768K | ﹤0.01% |
+49,585
| New | +$792K |
|
|
AIVC
4260
Amplify Bloomberg AI Equal Weight ETF
AIVC
$122M
| $768K | ﹤0.01% |
12,099
+431
| +4% | +$24.7K |
|
4261
TriNet
TNET
$3.14B
| $767K | ﹤0.01% |
11,473
-8
| -0.1% | -$544 |
|
4262
ProShares MSCI EAFE Dividend Growers ETF
EFAD
$64.5M
| $767K | ﹤0.01% |
18,202
+1,937
| +12% | +$81.7K |
|
4263
West Fraser Timber
WFG
$5.65B
| $766K | ﹤0.01% |
11,272
+5,423
| +93% | +$396K |
|
|
FYBR
4264
DELISTED
Frontier Communications
FYBR
| $766K | ﹤0.01% |
20,509
+609
| +3% | +$22.5K |
|
4265
Acadia Pharmaceuticals
ACAD
$5.03B
| $766K | ﹤0.01% |
35,894
-5,559
| -13% | -$131K |
|
4266
iShares MSCI Agriculture Producers ETF
VEGI
$147M
| $766K | ﹤0.01% |
19,513
+727
| +4% | +$29.2K |
|
4267
Greene County Bancorp
GCBC
$589M
| $765K | ﹤0.01% |
33,830
+393
| +1% | +$9.44K |
|
4268
Peoples Financial Services
PFIS
$707M
| $762K | ﹤0.01% |
15,680
+468
| +3% | +$23.9K |
|
4269
Kemper
KMPR
$1.68B
| $762K | ﹤0.01% |
14,786
+3,072
| +26% | +$173K |
|
|
GLU
4270
Gabelli Utility & Income Trust
GLU
$116M
| $762K | ﹤0.01% |
42,070
+22,357
| +113% | +$398K |
|
4271
VanEck Oil Refiners ETF
CRAK
$241M
| $761K | ﹤0.01% |
20,732
-59,413
| -74% | -$2.08M |
|
4272
Shutterstock
SSTK
$219M
| $761K | ﹤0.01% |
36,479
-2,422
| -6% | -$49.4K |
|
|
RNAM
4273
DELISTED
Avidity Biosciences
RNAM
| $758K | ﹤0.01% |
17,392
+4,969
| +40% | +$201K |
|
4274
Invesco DB US Dollar Index Bullish Fund
UUP
$422M
| $757K | ﹤0.01% |
27,523
-90,201
| -77% | -$2.47M |
|
4275
CALL
Carvana
CVNA
$77.9B
| $754K | ﹤0.01% |
+10,000
| New | +$715K |
|
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.