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 | |
|---|---|---|---|---|---|---|
1026
IonQ
IONQ
$13.6B
| $34.6M | 0.01% |
561,797
-164,930
| -23% | -$7.76M |
|
1027
SLB Ltd
SLB
$73.6B
| $34.5M | 0.01% |
1,002,687
+95,581
| +11% | +$3.33M |
|
1028
iShares iBonds Dec 2026 Term Treasury ETF
IBTG
$2.24B
| $34.4M | 0.01% |
1,498,921
+293,029
| +24% | +$6.71M |
|
1029
Public Storage
PSA
$60.5B
| $34.4M | 0.01% |
119,065
+11,126
| +10% | +$3.19M |
|
1030
Franklin US Low Volatility High Dividend Index ETF
LVHD
$628M
| $34.3M | 0.01% |
830,708
+37,300
| +5% | +$1.52M |
|
1031
AB US High Dividend ETF
HIDV
$207M
| $34.3M | 0.01% |
434,501
+112,923
| +35% | +$8.66M |
|
1032
SAP
SAP
$212B
| $34.3M | 0.01% |
128,295
+4,534
| +4% | +$1.28M |
|
1033
Reddit
RDDT
$27.1B
| $34.2M | 0.01% |
148,651
+13,042
| +10% | +$2.66M |
|
1034
First Trust Emerging Markets AlphaDEX Fund
FEM
$739M
| $34M | 0.01% |
1,253,498
+139,999
| +13% | +$3.63M |
|
1035
iShares iBonds 2026 Term High Yield and Income ETF
IBHF
$821M
| $34M | 0.01% |
1,452,311
+718,365
| +98% | +$16.7M |
|
1036
Hercules Capital
HTGC
$3.07B
| $33.9M | 0.01% |
1,794,113
+497,579
| +38% | +$9.54M |
|
1037
JPMorgan US Tech Leaders ETF
JTEK
$4.1B
| $33.9M | 0.01% |
368,159
+74,365
| +25% | +$6.42M |
|
1038
Goldman Sachs Physical Gold ETF Shares
AAAU
$2.46B
| $33.8M | 0.01% |
887,384
+116,869
| +15% | +$3.99M |
|
1039
iShares US Real Estate ETF
IYR
$4.66B
| $33.7M | 0.01% |
346,929
-154,458
| -31% | -$14.9M |
|
1040
Cambria Shareholder Yield ETF
SYLD
$987M
| $33.6M | 0.01% |
489,925
-56,531
| -10% | -$3.83M |
|
1041
Delta Air Lines
DAL
$57.5B
| $33.6M | 0.01% |
592,195
-31,305
| -5% | -$1.79M |
|
1042
Eaton Vance Tax-Managed Global Diversified Equity Income Fund
EXG
$2.99B
| $33.6M | 0.01% |
3,692,158
+690,779
| +23% | +$6.12M |
|
1043
Clorox
CLX
$11.6B
| $33.6M | 0.01% |
272,241
-66,287
| -20% | -$8.23M |
|
1044
Roblox
RBLX
$25.4B
| $33.6M | 0.01% |
242,309
+73,426
| +43% | +$9.13M |
|
1045
Invesco S&P MidCap Value with Momentum ETF
XMVM
$502M
| $33.6M | 0.01% |
544,604
+98,744
| +22% | +$5.81M |
|
1046
Sprott Physical Gold and Silver Trust
CEF
$7.4B
| $33.5M | 0.01% |
912,682
+188,486
| +26% | +$6.06M |
|
1047
Capital Group Short Duration Municipal Income ETF
CGSM
$1.54B
| $33.4M | 0.01% |
1,268,953
+296,437
| +30% | +$7.79M |
|
1048
Royce Value Trust
RVT
$2.21B
| $33.3M | 0.01% |
2,062,621
+16,999
| +0.8% | +$267K |
|
1049
Invesco S&P Ultra Dividend Revenue ETF
RDIV
$1.38B
| $33.2M | 0.01% |
636,295
+53,896
| +9% | +$2.71M |
|
1050
Alexandria Real Estate Equities
ARE
$8.97B
| $33.1M | 0.01% |
397,378
+44,295
| +13% | +$3.55M |
|
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.