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 | |
|---|---|---|---|---|---|---|
601
Snowflake
SNOW
$102B
| $83.2M | 0.02% |
368,684
+91,171
| +33% | +$19.6M |
|
602
O'Reilly Automotive
ORLY
$72.7B
| $83.1M | 0.02% |
770,700
+55,124
| +8% | +$5.54M |
|
603
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$780B
| $83.1M | 0.02% |
124,700
-5,700
| -4% | -$3.65M |
|
604
John Hancock Multifactor Large Cap ETF
JHML
$1.16B
| $83M | 0.02% |
1,059,053
+9,623
| +0.9% | +$729K |
|
605
Ares Capital
ARCC
$13.5B
| $83M | 0.02% |
4,065,931
+231,295
| +6% | +$5.14M |
|
606
iShares iBonds Dec 2026 Term Corporate ETF
IBDR
$3.44B
| $82.9M | 0.02% |
3,412,655
+502,039
| +17% | +$12.2M |
|
607
Cencora
COR
$60.5B
| $82.9M | 0.02% |
265,111
+16,056
| +6% | +$4.72M |
|
608
AB Tax-Aware Short Duration Municipal ETF
TAFI
$1.37B
| $82.8M | 0.02% |
3,269,472
+293,827
| +10% | +$7.41M |
|
609
Norfolk Southern
NSC
$75.1B
| $82.6M | 0.02% |
275,070
-1,501
| -0.5% | -$417K |
|
610
First Trust Institutional Preferred Securities and Income ETF
FPEI
$1.93B
| $82.6M | 0.02% |
4,269,996
+542,136
| +15% | +$10.4M |
|
611
iShares MSCI Global Min Vol Factor ETF
ACWV
$3.3B
| $82.5M | 0.02% |
687,715
+24,467
| +4% | +$2.91M |
|
612
Global X MLP & Energy Infrastructure ETF
MLPX
$3.59B
| $82.5M | 0.02% |
1,314,900
-107,491
| -8% | -$6.57M |
|
613
Sanofi
SNY
$102B
| $82.3M | 0.02% |
1,743,317
+59,562
| +4% | +$2.87M |
|
614
AstraZeneca
AZN
$262B
| $82M | 0.02% |
534,262
+34,052
| +7% | +$5.15M |
|
|
FISV
615
Fiserv Inc
FISV
$28.3B
| $81.9M | 0.02% |
635,539
-80,741
| -11% | -$11.6M |
|
616
iShares US Healthcare ETF
IYH
$3.34B
| $81.9M | 0.02% |
1,395,244
-276,737
| -17% | -$15.8M |
|
617
T. Rowe Price Small-Mid Cap ETF
TMSL
$2.71B
| $81.7M | 0.02% |
2,324,000
+733,434
| +46% | +$25M |
|
618
FT Vest Laddered Moderate Buffer ETF
BUFZ
$1.01B
| $81.7M | 0.02% |
3,155,525
-199,523
| -6% | -$5.07M |
|
619
iShares US Home Construction ETF
ITB
$2.26B
| $81.6M | 0.02% |
760,800
+455,232
| +149% | +$47.9M |
|
620
Global X US Preferred ETF
PFFD
$2.14B
| $81.3M | 0.02% |
4,183,286
+12,504
| +0.3% | +$242K |
|
621
First Trust US Equity Opportunities ETF
FPX
$1.46B
| $80.8M | 0.02% |
486,131
+16,083
| +3% | +$2.45M |
|
622
WisdomTree India Earnings Fund ETF
EPI
$2.06B
| $80.7M | 0.02% |
1,826,410
-1,383
| -0.1% | -$62.8K |
|
623
First Trust Intermediate Duration Investment Grade Corporate ETF
FIIG
$644M
| $80.7M | 0.02% |
3,800,748
+420,823
| +12% | +$8.87M |
|
624
First Trust Active Factor Large Cap ETF
AFLG
$699M
| $80.3M | 0.02% |
2,069,155
+449,438
| +28% | +$16.8M |
|
625
Global X Robotics & Artificial Intelligence ETF
BOTZ
$3.25B
| $80.2M | 0.02% |
2,264,765
-46,900
| -2% | -$1.58M |
|
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.