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 | |
|---|---|---|---|---|---|---|
826
Goldman Sachs Access Ultra Short Bond ETF
GSST
$1.57B
| $53.1M | 0.02% |
1,046,686
+251,025
| +32% | +$12.7M |
|
827
State Street SPDR MSCI USA StrategicFactors ETF
QUS
$1.53B
| $53M | 0.02% |
309,648
+26,368
| +9% | +$4.37M |
|
828
Pultegroup
PHM
$24.1B
| $52.9M | 0.02% |
400,247
+125,836
| +46% | +$15.6M |
|
829
Huntington Bancshares
HBAN
$34.4B
| $52.8M | 0.02% |
3,054,687
+211,278
| +7% | +$3.61M |
|
830
Principal Spectrum Preferred Securities Active ETF
PREF
$1.77B
| $52.1M | 0.02% |
2,721,869
-69,614
| -2% | -$1.32M |
|
831
VanEck Junior Gold Miners ETF
GDXJ
$6.89B
| $52.1M | 0.02% |
525,892
+1,438
| +0.3% | +$111K |
|
832
Bank of Montreal
BMO
$126B
| $51.8M | 0.02% |
397,527
+12,810
| +3% | +$1.52M |
|
833
Columbia Multi-Sector Municipal Income ETF
MUST
$593M
| $51.7M | 0.02% |
2,518,810
+1,227,022
| +95% | +$24.7M |
|
834
iShares Core Moderate Allocation ETF
AOM
$1.75B
| $51.7M | 0.02% |
1,086,699
+96,059
| +10% | +$4.46M |
|
|
WCMI
835
First Trust WCM International Equity ETF
WCMI
$1.69B
| $51.6M | 0.02% |
3,059,134
+724,328
| +31% | +$11.5M |
|
836
State Street Fixed Income Sector Rotation ETF
FISR
$488M
| $51.5M | 0.02% |
1,978,470
-2,234,916
| -53% | -$57.7M |
|
837
Ford
F
$58.5B
| $51.4M | 0.02% |
4,300,617
+237,510
| +6% | +$2.74M |
|
838
Invesco S&P SmallCap Value with Momentum ETF
XSVM
$674M
| $51M | 0.01% |
902,559
-184,299
| -17% | -$10.2M |
|
839
Invesco BulletShares 2026 High Yield Corporate Bond ETF
BSJQ
$899M
| $50.9M | 0.01% |
2,173,724
+666,185
| +44% | +$15.6M |
|
840
iShares California Muni Bond ETF
CMF
$4.55B
| $50.8M | 0.01% |
890,410
+46,915
| +6% | +$2.62M |
|
841
State Street SPDR S&P Emerging Markets Dividend ETF
EDIV
$1.22B
| $50.7M | 0.01% |
1,305,526
+232,464
| +22% | +$9.01M |
|
842
State Street SPDR S&P International Small Cap ETF
GWX
$856M
| $50.7M | 0.01% |
1,260,607
+127,298
| +11% | +$4.93M |
|
843
Global X MLP ETF
MLPA
$2.3B
| $50.6M | 0.01% |
1,045,617
+112,290
| +12% | +$5.59M |
|
844
iShares ESG Advanced MSCI USA ETF
USXF
$1.41B
| $50.6M | 0.01% |
882,334
-158,801
| -15% | -$8.86M |
|
845
Columbia Research Enhanced Value ETF
REVS
$332M
| $50.5M | 0.01% |
1,806,089
-66,877
| -4% | -$1.82M |
|
|
GRMN
846
Garmin
GRMN
$56.7B
| $50.4M | 0.01% |
204,705
+106,329
| +108% | +$24.5M |
|
847
Corteva
CTVA
$52.6B
| $50.4M | 0.01% |
745,157
+66,761
| +10% | +$4.84M |
|
848
Carrier Global
CARR
$51B
| $49.9M | 0.01% |
836,554
+115,338
| +16% | +$7.84M |
|
849
Interactive Brokers
IBKR
$39.2B
| $49.8M | 0.01% |
723,552
+33,938
| +5% | +$2.14M |
|
|
DFSV
850
Dimensional US Small Cap Value ETF
DFSV
$8.19B
| $49.4M | 0.01% |
1,552,465
+77,880
| +5% | +$2.43M |
|
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.