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 | |
|---|---|---|---|---|---|---|
1126
VanEck Digital Transformation ETF
DAPP
$234M
| $29.4M | 0.01% |
1,350,028
+319,680
| +31% | +$5.86M |
|
1127
Principal Exchange-Traded Funds Principal US Small-Cap ETF
PSC
$2.23B
| $29.2M | 0.01% |
512,842
+138,532
| +37% | +$7.58M |
|
1128
Electronic Arts
EA
$53B
| $29.1M | 0.01% |
144,382
+43,561
| +43% | +$7.21M |
|
1129
Franklin High Yield Corporate ETF
FLHY
$1.21B
| $29.1M | 0.01% |
1,185,608
+234,723
| +25% | +$5.71M |
|
1130
iShares Emerging Markets Equity Factor ETF
EMGF
$1.82B
| $29M | 0.01% |
512,937
+114,867
| +29% | +$6.2M |
|
1131
FlexShares Quality Dividend Index Fund
QDF
$2.22B
| $29M | 0.01% |
365,435
+881
| +0.2% | +$67.4K |
|
1132
Rio Tinto
RIO
$158B
| $29M | 0.01% |
439,244
+41,755
| +11% | +$2.58M |
|
1133
First Trust Short Duration Managed Municipal ETF
FSMB
$619M
| $28.9M | 0.01% |
1,439,687
+98,071
| +7% | +$1.96M |
|
1134
Sterling Infrastructure
STRL
$18.3B
| $28.9M | 0.01% |
85,087
+4,712
| +6% | +$1.34M |
|
1135
Dimensional Global Real Estate ETF
DFGR
$3.85B
| $28.8M | 0.01% |
1,053,388
+78,035
| +8% | +$2.11M |
|
1136
TransDigm Group
TDG
$70.2B
| $28.6M | 0.01% |
21,728
-4,095
| -16% | -$5.85M |
|
1137
HP
HPQ
$24.9B
| $28.6M | 0.01% |
1,050,607
+657,912
| +168% | +$17.5M |
|
1138
First Trust Emerging Markets Local Currency Bond ETF
FEMB
$358M
| $28.6M | 0.01% |
973,936
+190,240
| +24% | +$5.52M |
|
1139
Verisk Analytics
VRSK
$25.4B
| $28.6M | 0.01% |
113,518
-2,908
| -2% | -$798K |
|
1140
Dutch Bros
BROS
$9.03B
| $28.5M | 0.01% |
544,222
+54,681
| +11% | +$3.46M |
|
1141
MSCI
MSCI
$41.6B
| $28.5M | 0.01% |
50,196
+5,055
| +11% | +$2.86M |
|
1142
VanEck Video Gaming and eSports ETF
ESPO
$245M
| $28.4M | 0.01% |
234,079
+62,480
| +36% | +$7.06M |
|
1143
Franklin US Small Cap Multifactor Index ETF
FLQS
$51.8M
| $28.4M | 0.01% |
645,020
+355,234
| +123% | +$15.2M |
|
1144
Hartford Schroders Tax-Aware Bond ETF
HTAB
$288M
| $28.1M | 0.01% |
1,470,511
-744,622
| -34% | -$13.9M |
|
1145
Blackstone Secured Lending
BXSL
$5.37B
| $28M | 0.01% |
1,075,778
+24,562
| +2% | +$738K |
|
1146
Rocket Companies
RKT
$36.5B
| $28M | 0.01% |
1,446,837
+240,962
| +20% | +$4.2M |
|
1147
iShares iBonds Dec 2027 Term Treasury ETF
IBTH
$2.25B
| $28M | 0.01% |
1,243,382
+46,899
| +4% | +$1.05M |
|
1148
iShares Morningstar Small-Cap Growth ETF
ISCG
$970M
| $28M | 0.01% |
515,241
+80,338
| +18% | +$4.19M |
|
1149
Simplify MBS ETF
MTBA
$1.52B
| $27.9M | 0.01% |
554,488
+261,544
| +89% | +$13.1M |
|
1150
Invesco International Dividend Achievers ETF
PID
$926M
| $27.9M | 0.01% |
1,311,969
+88,640
| +7% | +$1.86M |
|
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.