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 | |
|---|---|---|---|---|---|---|
1076
ClearBridge Large Cap Growth Select ETF
LRGE
$374M
| $31.9M | 0.01% |
383,020
+19,099
| +5% | +$1.54M |
|
1077
CMS Energy
CMS
$22.6B
| $31.9M | 0.01% |
435,528
+29,140
| +7% | +$2.09M |
|
1078
American Healthcare REIT
AHR
$10.7B
| $31.9M | 0.01% |
758,793
-43,116
| -5% | -$1.73M |
|
1079
State Street SPDR S&P Bank ETF
KBE
$1.64B
| $31.9M | 0.01% |
536,168
+119,219
| +29% | +$7.02M |
|
1080
Zscaler
ZS
$24.5B
| $31.8M | 0.01% |
106,043
-870
| -0.8% | -$248K |
|
1081
Vanguard S&P Mid-Cap 400 ETF
IVOO
$3.71B
| $31.7M | 0.01% |
287,500
-10,344
| -3% | -$1.13M |
|
1082
Western Digital
WDC
$188B
| $31.7M | 0.01% |
264,279
+112,620
| +74% | +$9.2M |
|
1083
State Street SPDR S&P Capital Markets ETF
KCE
$456M
| $31.7M | 0.01% |
207,223
+75,412
| +57% | +$11.6M |
|
1084
Hartford Municipal Opportunities ETF
HMOP
$777M
| $31.6M | 0.01% |
811,941
+265,108
| +48% | +$10.2M |
|
1085
Genuine Parts
GPC
$17.1B
| $31.6M | 0.01% |
227,659
+5,384
| +2% | +$722K |
|
1086
Martin Marietta Materials
MLM
$31.5B
| $31.4M | 0.01% |
49,846
+6,271
| +14% | +$3.74M |
|
1087
Xtrackers S&P 500 ESG ETF
SNPE
$2.63B
| $31.4M | 0.01% |
523,197
-6,599
| -1% | -$380K |
|
1088
Hartford Multifactor Developed Markets ex-US ETF
RODM
$1.62B
| $31.4M | 0.01% |
882,911
+132,191
| +18% | +$4.61M |
|
1089
BNY Mellon Global Infrastructure Income ETF
BKGI
$1.2B
| $31.3M | 0.01% |
805,145
+138,049
| +21% | +$5.34M |
|
1090
iShares Morningstar Value ETF
ILCV
$1.32B
| $31.2M | 0.01% |
346,250
-89,947
| -21% | -$7.78M |
|
1091
American Century Diversified Municipal Bond ETF
TAXF
$683M
| $31.2M | 0.01% |
620,306
-46,840
| -7% | -$2.3M |
|
1092
Coherent
COHR
$51.4B
| $31.1M | 0.01% |
288,923
-2,754
| -0.9% | -$275K |
|
1093
Equinix
EQIX
$101B
| $31.1M | 0.01% |
39,724
+1,260
| +3% | +$985K |
|
1094
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$281M
| $31M | 0.01% |
1,231,322
+59,403
| +5% | +$1.48M |
|
1095
Curtiss-Wright
CW
$26.7B
| $30.9M | 0.01% |
56,987
+13,115
| +30% | +$6.46M |
|
1096
Datadog
DDOG
$95.4B
| $30.9M | 0.01% |
217,126
+20,047
| +10% | +$2.76M |
|
1097
Carvana
CVNA
$68.6B
| $30.9M | 0.01% |
409,515
+53,975
| +15% | +$3.86M |
|
1098
iShares MSCI ACWI ex US ETF
ACWX
$11.5B
| $30.9M | 0.01% |
475,217
+11,971
| +3% | +$748K |
|
1099
ALPS O'Shares U.S. Quality Dividend ETF
OUSA
$748M
| $30.9M | 0.01% |
545,932
-1,159
| -0.2% | -$64.1K |
|
1100
BlackRock Short Maturity Municipal Bond ETF
MEAR
$1.36B
| $30.8M | 0.01% |
609,982
+102,362
| +20% | +$5.16M |
|
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.