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 | |
|---|---|---|---|---|---|---|
476
Republic Services
RSG
$64.8B
| $114M | 0.03% |
498,001
+10,690
| +2% | +$2.51M |
|
477
Cadence Design Systems
CDNS
$93.6B
| $114M | 0.03% |
324,149
+7,231
| +2% | +$2.49M |
|
478
First Trust Large Cap Growth AlphaDEX Fund
FTC
$1.3B
| $113M | 0.03% |
703,148
+31,745
| +5% | +$4.95M |
|
479
Oneok
OKE
$57.2B
| $113M | 0.03% |
1,543,615
+92,293
| +6% | +$7.07M |
|
480
Mondelez International
MDLZ
$79.5B
| $112M | 0.03% |
1,798,710
+140,616
| +8% | +$9.07M |
|
481
Alibaba
BABA
$293B
| $112M | 0.03% |
626,257
+75,098
| +14% | +$9.84M |
|
482
First Trust Mid Cap Core AlphaDEX Fund
FNX
$1.38B
| $111M | 0.03% |
886,245
-27,917
| -3% | -$3.37M |
|
483
Invesco S&P 500 High Dividend Low Volatility ETF
SPHD
$3.34B
| $111M | 0.03% |
2,242,403
-234,910
| -9% | -$11.5M |
|
|
SCHV
484
Schwab US Large-Cap Value ETF
SCHV
$15.7B
| $110M | 0.03% |
3,781,097
+211,920
| +6% | +$6.02M |
|
485
Quanta Services
PWR
$100B
| $110M | 0.03% |
264,807
+20,155
| +8% | +$7.83M |
|
486
PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund
CORP
$1.57B
| $110M | 0.03% |
1,111,197
+275,997
| +33% | +$26.9M |
|
487
Aflac
AFL
$64.9B
| $109M | 0.03% |
976,778
+10,079
| +1% | +$1.06M |
|
488
Invesco BulletShares 2028 Corporate Bond ETF
BSCS
$3.56B
| $109M | 0.03% |
5,288,579
+505,159
| +11% | +$10.4M |
|
489
Air Products & Chemicals
APD
$65.7B
| $109M | 0.03% |
398,563
+4,767
| +1% | +$1.38M |
|
490
Dell
DELL
$262B
| $108M | 0.03% |
763,946
+56,526
| +8% | +$7.33M |
|
491
American Tower
AMT
$80.8B
| $108M | 0.03% |
562,507
+123,161
| +28% | +$25.7M |
|
492
VanEck Merk Gold Trust
OUNZ
$2.51B
| $108M | 0.03% |
2,900,483
-188,082
| -6% | -$6.27M |
|
493
First Trust Managed Municipal ETF
FMB
$2.04B
| $108M | 0.03% |
2,127,067
+80,800
| +4% | +$4.04M |
|
494
JPMorgan International Value ETF
JIVE
$3.39B
| $108M | 0.03% |
1,428,778
+642,127
| +82% | +$46.5M |
|
|
DFAI
495
Dimensional International Core Equity Market ETF
DFAI
$17.4B
| $108M | 0.03% |
2,960,779
+830,009
| +39% | +$29.4M |
|
496
WEC Energy
WEC
$35.7B
| $107M | 0.03% |
934,078
+50,415
| +6% | +$5.46M |
|
497
CVS Health
CVS
$133B
| $106M | 0.03% |
1,411,577
+218,174
| +18% | +$15M |
|
498
Spotify
SPOT
$103B
| $106M | 0.03% |
152,251
+28,935
| +23% | +$20.2M |
|
499
Nike
NKE
$61.9B
| $105M | 0.03% |
1,512,532
+136,317
| +10% | +$10.2M |
|
500
Eaton Vance Total Return Bond ETF
EVTR
$5.61B
| $105M | 0.03% |
2,048,551
+256,666
| +14% | +$13.1M |
|
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.