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 | |
|---|---|---|---|---|---|---|
|
VZLA
5351
Vizsla Silver
VZLA
$1.1B
| $197K | ﹤0.01% |
45,615
+1,500
| +3% | +$5.2K |
|
5352
Cadrenal Therapeutics
CVKD
$6.23M
| $196K | ﹤0.01% |
+14,200
| New | +$176K |
|
|
CMRC
5353
Commerce.com Inc Series 1
CMRC
$258M
| $195K | ﹤0.01% |
39,144
-950
| -2% | -$4.57K |
|
|
BTA
5354
DELISTED
BlackRock Long-Term Municipal Advantage Trust
BTA
| $195K | ﹤0.01% |
20,361
+2,929
| +17% | +$26.8K |
|
|
BRT
5355
BRT Apartments
BRT
$281M
| $193K | ﹤0.01% |
12,321
-742
| -6% | -$11.6K |
|
5356
Bridgewater Bancshares
BWB
$571M
| $192K | ﹤0.01% |
+10,915
| New | +$178K |
|
5357
Hyliion Holdings
HYLN
$635M
| $191K | ﹤0.01% |
97,107
+77,084
| +385% | +$128K |
|
5358
Nuveen Mortgage and Income Fund
JLS
$94.5M
| $191K | ﹤0.01% |
+10,199
| New | +$193K |
|
5359
Eagle Bancorp Montana
EBMT
$187M
| $191K | ﹤0.01% |
11,052
+84
| +0.8% | +$1.43K |
|
5360
Coursera
COUR
$1.52B
| $191K | ﹤0.01% |
16,287
| – | – |
|
5361
Arcos Dorados Holdings
ARCO
$1.72B
| $191K | ﹤0.01% |
28,240
-3,568
| -11% | -$25.3K |
|
5362
Milestone Pharmaceuticals
MIST
$138M
| $191K | ﹤0.01% |
95,300
+84,250
| +762% | +$148K |
|
|
QXO
5363
PUT
QXO Inc
QXO
$13.8B
| $191K | ﹤0.01% |
+10,000
| New | +$207K |
|
|
JCAP
5364
Jefferson Capital
JCAP
$1.24B
| $190K | ﹤0.01% |
11,008
-125
| -1% | -$2.22K |
|
5365
Algonquin Power & Utilities
AQN
$4.49B
| $190K | ﹤0.01% |
35,338
-3,108
| -8% | -$17.9K |
|
5366
Aveanna Healthcare
AVAH
$2.04B
| $190K | ﹤0.01% |
+21,370
| New | +$135K |
|
|
PCAPU
5367
ProCap Acquisition Corp Unit
PCAPU
$212M
| $189K | ﹤0.01% |
18,000
-1,000
| -5% | -$10.5K |
|
|
BHST
5368
BioHarvest Sciences
BHST
$49M
| $188K | ﹤0.01% |
+20,000
| New | +$164K |
|
|
RZLV
5369
Rezolve AI
RZLV
$969M
| $187K | ﹤0.01% |
37,560
+24,060
| +178% | +$94.7K |
|
5370
CALL
Teladoc Health
TDOC
$1.22B
| $186K | ﹤0.01% |
24,000
+12,500
| +109% | +$97.6K |
|
5371
Axogen
AXGN
$2.27B
| $185K | ﹤0.01% |
+10,382
| New | +$151K |
|
5372
PUT
Quantum Computing Inc
QUBT
$1.83B
| $184K | ﹤0.01% |
+10,000
| New | +$172K |
|
5373
Critical Metals Corp
CRML
$806M
| $184K | ﹤0.01% |
29,569
-4,806
| -14% | -$24.6K |
|
5374
Crescent Capital BDC
CCAP
$403M
| $184K | ﹤0.01% |
12,894
-5,148
| -29% | -$77.1K |
|
5375
NovoCure
NVCR
$1.73B
| $184K | ﹤0.01% |
14,227
-1,360
| -9% | -$18.2K |
|
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.