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 | |
|---|---|---|---|---|---|---|
526
Vistra
VST
$50.1B
| $98.9M | 0.03% |
504,991
+92,773
| +23% | +$18.4M |
|
|
BNY
527
Bank of New York Mellon
BNY
$106B
| $98.3M | 0.03% |
901,848
+288,354
| +47% | +$29.4M |
|
528
Schwab Fundamental International Large Company Index ETF
FNDF
$25.1B
| $98.1M | 0.03% |
2,282,898
+64,794
| +3% | +$2.69M |
|
529
iShares Core MSCI International Developed Markets ETF
IDEV
$31.9B
| $97.9M | 0.03% |
1,221,316
+138,903
| +13% | +$10.8M |
|
530
Cheniere Energy
LNG
$54.1B
| $97.8M | 0.03% |
416,366
+22,039
| +6% | +$5.18M |
|
531
iShares AAA-A Rated Corporate Bond ETF
QLTA
$1.24B
| $97.7M | 0.03% |
2,016,633
+340,603
| +20% | +$16.3M |
|
532
Vanguard International Dividend Appreciation ETF
VIGI
$9.15B
| $97.5M | 0.03% |
1,088,455
-56,528
| -5% | -$5.04M |
|
533
PIMCO Dynamic Income Fund
PDI
$7.44B
| $97.5M | 0.03% |
4,923,137
+744,608
| +18% | +$14.4M |
|
534
VanEck Intermediate Muni ETF
ITM
$2.14B
| $97.1M | 0.03% |
2,083,198
+145,938
| +8% | +$6.68M |
|
535
ActivePassive US Equity ETF
APUE
$2.4B
| $97M | 0.03% |
2,378,091
+30,104
| +1% | +$1.18M |
|
536
Paychex
PAYX
$41.4B
| $96.9M | 0.03% |
764,739
+37,271
| +5% | +$5.17M |
|
537
Marvell Technology
MRVL
$165B
| $96.3M | 0.03% |
1,145,712
+36,976
| +3% | +$2.72M |
|
538
iShares ESG Aware US Aggregate Bond ETF
EAGG
$4.97B
| $96.1M | 0.03% |
2,000,144
+146,842
| +8% | +$6.98M |
|
539
First Trust North American Energy Infrastructure Fund
EMLP
$4.09B
| $96M | 0.03% |
2,506,893
+157,733
| +7% | +$5.95M |
|
540
First Trust Nasdaq-100 Select Equal Weight ETF
QQEW
$1.73B
| $95.4M | 0.03% |
676,123
-14,404
| -2% | -$1.98M |
|
541
JPMorgan Global Select Equity ETF
JGLO
$6.87B
| $94.8M | 0.03% |
1,399,507
-466,731
| -25% | -$30.9M |
|
|
CGNG
542
Capital Group New Geography Equity ETF
CGNG
$2.67B
| $94.6M | 0.03% |
3,060,741
+1,197,954
| +64% | +$35.3M |
|
543
Fidelity Enhanced Small Cap Core ETF
FESM
$5.97B
| $94.1M | 0.03% |
2,573,322
+915,739
| +55% | +$31.5M |
|
544
iShares Global Tech ETF
IXN
$8.34B
| $94M | 0.03% |
911,225
+93,997
| +12% | +$9.08M |
|
545
Franklin Dynamic Municipal Bond ETF
FLMI
$2.29B
| $93.4M | 0.03% |
3,772,031
+875,033
| +30% | +$21.2M |
|
546
First Trust Senior Loan Fund ETF
FTSL
$2.32B
| $93.4M | 0.03% |
2,037,185
-14,125
| -0.7% | -$650K |
|
547
Vanguard Russell 2000 ETF
VTWO
$17.4B
| $93.3M | 0.03% |
953,784
+94,233
| +11% | +$8.75M |
|
548
First Trust Technology AlphaDEX Fund
FXL
$2.5B
| $93.2M | 0.03% |
554,707
+16,317
| +3% | +$2.63M |
|
549
Vanguard Long-Term Treasury ETF
VGLT
$10.1B
| $93.1M | 0.03% |
1,637,459
-7,264
| -0.4% | -$405K |
|
550
FedEx
FDX
$73B
| $93M | 0.03% |
394,287
+9,935
| +3% | +$2.29M |
|
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.