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 | |
|---|---|---|---|---|---|---|
451
Constellation Energy
CEG
$94.1B
| $125M | 0.04% |
379,500
+50,968
| +16% | +$16.4M |
|
452
Corning
GLW
$116B
| $125M | 0.04% |
1,519,728
-38,878
| -2% | -$2.54M |
|
453
Pacer Trendpilot 100 ETF
PTNQ
$1.2B
| $123M | 0.04% |
1,585,200
+68,595
| +5% | +$5.07M |
|
454
Pacer Global Cash Cows Dividend ETF
GCOW
$3.43B
| $123M | 0.04% |
3,097,221
+127,859
| +4% | +$5.02M |
|
455
Bristol-Myers Squibb
BMY
$132B
| $123M | 0.04% |
2,719,010
+199,985
| +8% | +$9.34M |
|
456
Invesco BulletShares 2027 Corporate Bond ETF
BSCR
$4.59B
| $122M | 0.04% |
6,206,863
+955,979
| +18% | +$18.8M |
|
457
Enterprise Products Partners
EPD
$82.5B
| $122M | 0.04% |
3,906,083
+164,433
| +4% | +$5.19M |
|
458
Phillips 66
PSX
$84.4B
| $122M | 0.04% |
894,814
-2,427
| -0.3% | -$311K |
|
459
First Trust Cloud Computing ETF
SKYY
$2.86B
| $121M | 0.04% |
900,020
+6,189
| +0.7% | +$779K |
|
460
Vanguard Intermediate-Term Treasury ETF
VGIT
$41.7B
| $120M | 0.04% |
2,007,315
+193,760
| +11% | +$11.6M |
|
461
NEOS S&P 500 High Income ETF
SPYI
$10.7B
| $120M | 0.04% |
2,300,653
+478,672
| +26% | +$24.6M |
|
462
Schwab Fundamental US Large Company Index ETF
FNDX
$26.7B
| $120M | 0.03% |
4,553,104
+1,005,035
| +28% | +$25.5M |
|
|
BSCP
463
DELISTED
Invesco BulletShares 2025 Corporate Bond ETF
BSCP
| $119M | 0.03% |
5,766,842
-591,000
| -9% | -$12.2M |
|
464
Vanguard S&P 500 Value ETF
VOOV
$6.61B
| $119M | 0.03% |
596,746
+22,097
| +4% | +$4.29M |
|
465
WisdomTree Emerging Markets High Dividend Fund
DEM
$3.9B
| $118M | 0.03% |
2,566,565
+42,981
| +2% | +$1.99M |
|
466
First Trust Large Cap Core AlphaDEX Fund
FEX
$1.57B
| $118M | 0.03% |
1,007,091
+21,561
| +2% | +$2.45M |
|
467
Vanguard Morningstar Mega Cap ETF
MGC
$9.9B
| $117M | 0.03% |
481,028
+13,832
| +3% | +$3.24M |
|
468
VanEck IG Floating Rate ETF
FLTR
$2.94B
| $117M | 0.03% |
4,578,822
+443,201
| +11% | +$11.3M |
|
469
Capital One
COF
$129B
| $116M | 0.03% |
547,715
+79,232
| +17% | +$17.3M |
|
470
Avantis International Small Cap Value ETF
AVDV
$19.1B
| $116M | 0.03% |
1,299,367
+440,467
| +51% | +$37M |
|
471
JPMorgan Small & Mid Cap Enhanced Equity ETF
JMEE
$2.85B
| $115M | 0.03% |
1,817,047
-159,386
| -8% | -$9.85M |
|
472
Gilead Sciences
GILD
$163B
| $115M | 0.03% |
1,037,002
+42,885
| +4% | +$4.87M |
|
473
US Treasury 6 Month Bill ETF
XBIL
$741M
| $115M | 0.03% |
2,286,768
+78,941
| +4% | +$3.95M |
|
474
Invesco FTSE RAFI US 1000 ETF
PRF
$9.78B
| $115M | 0.03% |
2,538,671
+4,378
| +0.2% | +$191K |
|
475
Kinder Morgan
KMI
$70.5B
| $114M | 0.03% |
4,037,021
+19,148
| +0.5% | +$524K |
|
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.