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 | |
|---|---|---|---|---|---|---|
1226
JPMorgan US Momentum Factor ETF
JMOM
$2.48B
| $24.9M | 0.01% |
367,207
-239,692
| -39% | -$15.7M |
|
1227
Xtrackers USD High Yield Corporate Bond ETF
HYLB
$3.52B
| $24.9M | 0.01% |
670,322
+294,619
| +78% | +$10.9M |
|
1228
First Trust Exchange-Traded Fund II First Trust International Equity Opportunities ETF
FPXI
$274M
| $24.8M | 0.01% |
414,586
+56,935
| +16% | +$3.26M |
|
1229
United Airlines
UAL
$39.4B
| $24.8M | 0.01% |
257,445
+15,548
| +6% | +$1.5M |
|
1230
VanEck Long Muni ETF
MLN
$677M
| $24.8M | 0.01% |
1,417,367
+570,525
| +67% | +$9.66M |
|
1231
Factset
FDS
$9.36B
| $24.8M | 0.01% |
86,453
+568
| +0.7% | +$217K |
|
1232
Citizens Financial Group
CFG
$30.3B
| $24.7M | 0.01% |
463,718
+54,033
| +13% | +$2.69M |
|
1233
Workday
WDAY
$39.6B
| $24.7M | 0.01% |
102,401
-99,033
| -49% | -$22.9M |
|
1234
JPMorgan Diversified Return US Mid Cap Equity ETF
JPME
$465M
| $24.6M | 0.01% |
227,100
-2,972
| -1% | -$317K |
|
1235
Brown & Brown
BRO
$23.6B
| $24.6M | 0.01% |
261,781
-13,845
| -5% | -$1.35M |
|
1236
Fidelity MSCI Consumer Staples Index ETF
FSTA
$1.42B
| $24.5M | 0.01% |
492,473
+105,383
| +27% | +$5.39M |
|
1237
Main Street Capital
MAIN
$5.06B
| $24.3M | 0.01% |
382,319
+40,520
| +12% | +$2.62M |
|
1238
Kratos Defense & Security Solutions
KTOS
$8.74B
| $24.3M | 0.01% |
265,440
+82,142
| +45% | +$5.26M |
|
1239
lululemon athletica
LULU
$13.5B
| $24.2M | 0.01% |
136,009
-15,776
| -10% | -$3.16M |
|
1240
State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF
SPYX
$2.75B
| $24.2M | 0.01% |
440,681
-23,322
| -5% | -$1.23M |
|
1241
HSBC
HSBC
$365B
| $24.1M | 0.01% |
340,051
+40,207
| +13% | +$2.61M |
|
1242
Annaly Capital Management
NLY
$17.1B
| $24.1M | 0.01% |
1,192,175
+177,937
| +18% | +$3.69M |
|
1243
Fidelity Low Volatility Factor ETF
FDLO
$1.44B
| $24.1M | 0.01% |
365,714
+188,192
| +106% | +$12.1M |
|
1244
iShares MSCI Germany ETF
EWG
$1.59B
| $24.1M | 0.01% |
578,753
+27,511
| +5% | +$1.15M |
|
1245
Alger AI Enablers & Adopters ETF
ALAI
$465M
| $24M | 0.01% |
640,622
+589,003
| +1,141% | +$19.8M |
|
1246
Invesco Bloomberg Pricing Power ETF
POWA
$178M
| $24M | 0.01% |
264,928
+9,695
| +4% | +$862K |
|
1247
Equifax
EFX
$20.3B
| $23.9M | 0.01% |
93,141
+18,614
| +25% | +$4.68M |
|
1248
First Trust Europe AlphaDEX Fund
FEP
$526M
| $23.9M | 0.01% |
466,349
+66,104
| +17% | +$3.27M |
|
1249
Aptus Collared Investment Opportunity ETF
ACIO
$2.36B
| $23.8M | 0.01% |
548,509
+70,360
| +15% | +$2.97M |
|
1250
VanEck Retail ETF
RTH
$258M
| $23.8M | 0.01% |
94,924
-24,524
| -21% | -$6.03M |
|
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.