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 | |
|---|---|---|---|---|---|---|
726
AAM Transformers ETF
TRFM
$243M
| $64.1M | 0.02% |
1,323,037
+297,168
| +29% | +$13.4M |
|
727
WisdomTree US MidCap Fund
EZM
$940M
| $63.9M | 0.02% |
970,247
+774,832
| +397% | +$50M |
|
728
First Trust Small Cap Core AlphaDEX Fund
FYX
$1.36B
| $63.9M | 0.02% |
586,139
-37,118
| -6% | -$3.85M |
|
729
EOG Resources
EOG
$79.2B
| $63.7M | 0.02% |
568,342
+26,595
| +5% | +$3.17M |
|
730
Rockwell Automation
ROK
$53.4B
| $63.7M | 0.02% |
182,256
-322
| -0.2% | -$111K |
|
731
AutoZone
AZO
$49.2B
| $63.7M | 0.02% |
14,837
+856
| +6% | +$3.43M |
|
732
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.2B
| $63.4M | 0.02% |
444,871
+100,356
| +29% | +$13.9M |
|
733
ProShares S&P MidCap 400 Dividend Aristocrats ETF
REGL
$1.75B
| $63.4M | 0.02% |
742,966
+33,210
| +5% | +$2.8M |
|
734
Victory Portfolios II VictoryShares Short-Term Bond ETF
USTB
$2.29B
| $63.2M | 0.02% |
1,238,898
+179,880
| +17% | +$9.14M |
|
|
RGLO
735
Russell Investments Global Equity ETF
RGLO
$343M
| $63.1M | 0.02% |
2,219,548
+261,456
| +13% | +$7.17M |
|
736
Simon Property Group
SPG
$74.4B
| $62.9M | 0.02% |
335,275
-48,193
| -13% | -$8.32M |
|
737
Invesco AAA CLO Floating Rate Note ETF
ICLO
$513M
| $62.6M | 0.02% |
2,445,117
+941,234
| +63% | +$24.1M |
|
738
Janus Henderson Small/Mid Cap Growth Alpha ETF
JSMD
$1.05B
| $62.2M | 0.02% |
744,216
+89,010
| +14% | +$7.23M |
|
739
Nuveen ESG Large-Cap Value ETF
NULV
$2.19B
| $62.2M | 0.02% |
1,419,278
+56,628
| +4% | +$2.42M |
|
740
PayPal
PYPL
$48.9B
| $62M | 0.02% |
924,645
-55,704
| -6% | -$3.93M |
|
741
SoFi Technologies
SOFI
$21B
| $62M | 0.02% |
2,345,903
+215,127
| +10% | +$5.1M |
|
742
Unilever
UL
$137B
| $61.9M | 0.02% |
928,719
+143,899
| +18% | +$9.93M |
|
743
WisdomTree Japan Hedged Equity Fund
DXJ
$7.08B
| $61.4M | 0.02% |
479,371
+2,397
| +0.5% | +$294K |
|
744
iShares MSCI Global Gold Miners ETF
RING
$2.27B
| $61.2M | 0.02% |
946,258
+120,065
| +15% | +$6.15M |
|
745
Dimensional Emerging Markets Core Equity 2 ETF
DFEM
$8.81B
| $61.2M | 0.02% |
1,907,063
+92,463
| +5% | +$2.85M |
|
746
Seagate
STX
$194B
| $61.1M | 0.02% |
258,775
+27,380
| +12% | +$4.67M |
|
747
Vanguard World Funds Extended Duration ETF
EDV
$3.22B
| $61M | 0.02% |
891,457
+32,363
| +4% | +$2.14M |
|
748
Invesco National AMT-Free Municipal Bond ETF
PZA
$4.22B
| $61M | 0.02% |
2,640,438
+222,171
| +9% | +$4.98M |
|
749
Natixis Loomis Sayles Focused Growth ETF
LSGR
$854M
| $61M | 0.02% |
1,372,610
+243,849
| +22% | +$10.5M |
|
750
iShares MSCI Japan ETF
EWJ
$21.9B
| $60.9M | 0.02% |
759,097
+121,323
| +19% | +$9.38M |
|
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.