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 | |
|---|---|---|---|---|---|---|
626
Goldman Sachs ActiveBeta Emerging Markets Equity ETF
GEM
$1.67B
| $80.2M | 0.02% |
1,969,957
+51,428
| +3% | +$1.99M |
|
627
Intercontinental Exchange
ICE
$86.3B
| $80.2M | 0.02% |
476,083
+761
| +0.2% | +$136K |
|
628
Prudential Financial
PRU
$42.6B
| $79.8M | 0.02% |
769,383
+216,301
| +39% | +$22.8M |
|
629
Global X Silver Miners ETF NEW
SIL
$3.98B
| $79.8M | 0.02% |
1,113,894
+390,009
| +54% | +$21.9M |
|
630
BlackRock ETF Trust II iShares AAA CLO Active ETF
CLOA
$2.18B
| $79.7M | 0.02% |
1,533,884
+413,904
| +37% | +$21.5M |
|
631
Ingersoll Rand
IR
$32.4B
| $78.8M | 0.02% |
953,553
+107,390
| +13% | +$8.8M |
|
632
Schwab Short-Term US Treasury ETF
SCHO
$12.8B
| $78.7M | 0.02% |
3,226,183
-1,065,544
| -25% | -$25.9M |
|
633
Freeport-McMoran
FCX
$89.1B
| $78.5M | 0.02% |
2,001,283
-218,444
| -10% | -$9.48M |
|
634
Fidelity Enhanced Large Cap Growth ETF
FELG
$5.43B
| $78.2M | 0.02% |
1,902,784
+66,202
| +4% | +$2.57M |
|
|
MRSH
635
Marsh
MRSH
$90.8B
| $78.2M | 0.02% |
387,955
+50,702
| +15% | +$10.4M |
|
636
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.08B
| $78.1M | 0.02% |
3,134,453
+156,426
| +5% | +$3.83M |
|
|
NVO
637
Novo Nordisk
NVO
$208B
| $77.7M | 0.02% |
1,399,533
-86,886
| -6% | -$5.09M |
|
638
Consolidated Edison
ED
$40.4B
| $77.2M | 0.02% |
767,797
+59,581
| +8% | +$5.98M |
|
639
Vanguard Communication Services ETF
VOX
$5.54B
| $77.2M | 0.02% |
410,994
+64,868
| +19% | +$11.6M |
|
|
CGCV
640
Capital Group Conservative Equity ETF
CGCV
$1.93B
| $77.1M | 0.02% |
2,562,053
+1,201,220
| +88% | +$35.3M |
|
641
First Trust Large Cap Value AlphaDEX Fund
FTA
$1.39B
| $77M | 0.02% |
923,866
+51,382
| +6% | +$4.18M |
|
642
Marathon Petroleum
MPC
$91.1B
| $77M | 0.02% |
399,408
+4,437
| +1% | +$780K |
|
643
First Trust Financials AlphaDEX Fund
FXO
$1.13B
| $76.7M | 0.02% |
1,291,497
-9,749
| -0.7% | -$567K |
|
644
State Street SPDR S&P 1500 Value Tilt ETF
VLU
$748M
| $76.5M | 0.02% |
374,929
-55,928
| -13% | -$11.1M |
|
645
Broadridge
BR
$17.8B
| $76.5M | 0.02% |
320,998
+11,930
| +4% | +$2.97M |
|
646
iShares US Broker-Dealers & Securities Exchanges ETF
IAI
$1.36B
| $75.9M | 0.02% |
429,180
+55,017
| +15% | +$9.58M |
|
647
First Trust Long Duration Opportunities ETF
LGOV
$616M
| $75.9M | 0.02% |
3,487,451
+776,336
| +29% | +$16.7M |
|
648
State Street Ultra Short Term Bond ETF
ULST
$527M
| $75.8M | 0.02% |
1,862,312
+90,240
| +5% | +$3.66M |
|
649
Invesco Short Term Treasury ETF
TBLL
$2.61B
| $75.7M | 0.02% |
716,536
+84,813
| +13% | +$8.96M |
|
650
Franklin Income Focus ETF
INCM
$1.69B
| $75.6M | 0.02% |
2,724,897
+621,132
| +30% | +$17.1M |
|
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.