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 | |
|---|---|---|---|---|---|---|
5276
Sonos
SONO
$1.87B
| $225K | ﹤0.01% |
14,232
-239
| -2% | -$3.07K |
|
5277
BW LPG
BWLP
$3.32B
| $224K | ﹤0.01% |
15,692
+5,195
| +49% | +$75.3K |
|
|
PPIH
5278
Perma-Pipe International
PPIH
$200M
| $224K | ﹤0.01% |
+9,555
| New | +$247K |
|
|
KEEL
5279
Keel Infrastructure Corp
KEEL
$2.54B
| $224K | ﹤0.01% |
79,356
+9,971
| +14% | +$15.5K |
|
5280
V2X
VVX
$2.7B
| $223K | ﹤0.01% |
+3,838
| New | +$205K |
|
5281
CPI Card Group
PMTS
$252M
| $222K | ﹤0.01% |
+14,652
| New | +$260K |
|
5282
Revolve Group
RVLV
$1.86B
| $222K | ﹤0.01% |
+10,410
| New | +$227K |
|
5283
Danaos Corp
DAC
$2.59B
| $221K | ﹤0.01% |
2,464
-41
| -2% | -$3.78K |
|
5284
Allogene Therapeutics
ALLO
$635M
| $220K | ﹤0.01% |
177,500
+3,537
| +2% | +$4.22K |
|
5285
BRC Inc
BRCC
$123M
| $220K | ﹤0.01% |
140,786
-4,916
| -3% | -$7.87K |
|
5286
Five Star Bancorp
FSBC
$1.14B
| $219K | ﹤0.01% |
+6,811
| New | +$214K |
|
5287
Relay Therapeutics
RLAY
$4.09B
| $219K | ﹤0.01% |
41,928
+17,100
| +69% | +$65.2K |
|
|
AUTL
5288
Autolus Therapeutics
AUTL
$484M
| $218K | ﹤0.01% |
134,025
+100,400
| +299% | +$196K |
|
5289
Heritage Financial
HFWA
$1.23B
| $218K | ﹤0.01% |
+9,016
| New | +$218K |
|
5290
Scholastic
SCHL
$794M
| $218K | ﹤0.01% |
+7,956
| New | +$197K |
|
5291
Pulse Biosciences
PLSE
$2.61B
| $218K | ﹤0.01% |
+12,295
| New | +$195K |
|
|
FLG.PRU
5292
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$117M
| $217K | ﹤0.01% |
5,455
| – | – |
|
5293
Titan International
TWI
$466M
| $217K | ﹤0.01% |
28,660
+537
| +2% | +$4.79K |
|
5294
CALL
Howmet Aerospace
HWM
$115B
| $216K | ﹤0.01% |
+1,100
| New | +$200K |
|
5295
CALL
Boeing
BA
$185B
| $216K | ﹤0.01% |
+1,000
| New | +$225K |
|
|
SPTB
5296
State Street SPDR Portfolio Treasury ETF
SPTB
$287M
| $216K | ﹤0.01% |
+7,047
| New | +$214K |
|
5297
CALL
Shake Shack
SHAK
$2.61B
| $215K | ﹤0.01% |
+2,300
| New | +$264K |
|
|
LCG
5298
DELISTED
Sterling Capital Focus Equity ETF
LCG
| $215K | ﹤0.01% |
6,550
| – | – |
|
5299
Castle Biosciences
CSTL
$928M
| $214K | ﹤0.01% |
+9,397
| New | +$191K |
|
5300
Codexis
CDXS
$156M
| $214K | ﹤0.01% |
87,670
-92,995
| -51% | -$254K |
|
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.