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 | |
|---|---|---|---|---|---|---|
4351
Vaxcyte
PCVX
$8.47B
| $696K | ﹤0.01% |
19,317
+6,582
| +52% | +$218K |
|
4352
John Wiley & Sons Class A
WLY
$2.71B
| $696K | ﹤0.01% |
17,187
-469
| -3% | -$18.9K |
|
4353
Westlake Chemical Partners
WLKP
$761M
| $695K | ﹤0.01% |
33,129
+3,053
| +10% | +$66.9K |
|
4354
IMAX
IMAX
$2.73B
| $695K | ﹤0.01% |
21,221
+473
| +2% | +$13.4K |
|
4355
Cambria Global Momentum ETF
GMOM
$71.6M
| $694K | ﹤0.01% |
21,463
+616
| +3% | +$18.9K |
|
4356
Hawaiian Electric Industries
HE
$2.17B
| $693K | ﹤0.01% |
62,804
-528
| -0.8% | -$6.01K |
|
|
MSB
4357
Mesabi Trust
MSB
$309M
| $693K | ﹤0.01% |
23,661
+3,981
| +20% | +$117K |
|
|
ABOT
4358
Abacus FCF Innovation Leaders ETF
ABOT
$4.24M
| $692K | ﹤0.01% |
17,092
-2,603
| -13% | -$102K |
|
4359
Vertex
VERX
$1.91B
| $691K | ﹤0.01% |
27,856
-8,603
| -24% | -$249K |
|
4360
Global X MSCI China Consumer Discretionary ETF
CHIQ
$127M
| $690K | ﹤0.01% |
28,540
+16,968
| +147% | +$379K |
|
4361
First Commonwealth Financial
FCF
$2.17B
| $690K | ﹤0.01% |
40,462
+4,511
| +13% | +$77K |
|
4362
Nuveen Churchill Direct Lending
NCDL
$638M
| $688K | ﹤0.01% |
49,825
+500
| +1% | +$8K |
|
4363
Albertsons Companies
ACI
$5.83B
| $687K | ﹤0.01% |
39,227
+12,383
| +46% | +$243K |
|
|
SAIL
4364
SailPoint Inc
SAIL
$10.3B
| $687K | ﹤0.01% |
31,106
+10,160
| +49% | +$213K |
|
|
MHN
4365
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
| $687K | ﹤0.01% |
67,199
+34,776
| +107% | +$340K |
|
4366
Ethan Allen Interiors
ETD
$602M
| $684K | ﹤0.01% |
23,228
+2,097
| +10% | +$61.9K |
|
|
CFLT
4367
DELISTED
Confluent
CFLT
| $683K | ﹤0.01% |
34,504
-9,661
| -22% | -$202K |
|
4368
Mercantile Bank Corp
MBWM
$1.05B
| $681K | ﹤0.01% |
15,135
+461
| +3% | +$21.9K |
|
|
JULM
4369
FT Vest U.S. Equity Max Buffer ETF - July
JULM
$29.6M
| $679K | ﹤0.01% |
20,458
+401
| +2% | +$13.2K |
|
4370
Schneider National
SNDR
$6.25B
| $679K | ﹤0.01% |
32,067
+1,729
| +6% | +$42.3K |
|
4371
Avantis Responsible Emerging Markets Equity ETF
AVSE
$216M
| $677K | ﹤0.01% |
10,654
+238
| +2% | +$14.5K |
|
4372
PUT
Snowflake
SNOW
$112B
| $677K | ﹤0.01% |
+3,000
| New | +$644K |
|
4373
Celcuity
CELC
$4.46B
| $676K | ﹤0.01% |
+13,688
| New | +$548K |
|
4374
Innovator US Equity Ultra Buffer ETF November
UNOV
$109M
| $676K | ﹤0.01% |
18,038
+3,288
| +22% | +$121K |
|
4375
Red Rock Resorts
RRR
$3.64B
| $676K | ﹤0.01% |
11,068
-899
| -8% | -$52.9K |
|
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.