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 | |
|---|---|---|---|---|---|---|
126
First Trust Enhanced Short Maturity ETF
FTSM
$6.51B
| $562M | 0.16% |
9,374,551
+282,634
| +3% | +$17M |
|
127
Invesco S&P 500 Revenue ETF
RWL
$9.63B
| $556M | 0.16% |
5,027,810
+227,093
| +5% | +$24.2M |
|
128
Columbia Research Enhanced Core ETF
RECS
$5.91B
| $554M | 0.16% |
13,723,415
+2,902,431
| +27% | +$112M |
|
129
iShares 1-3 Year Treasury Bond ETF
SHY
$25.4B
| $549M | 0.16% |
6,616,586
-201,738
| -3% | -$16.7M |
|
130
Mastercard
MA
$501B
| $546M | 0.16% |
959,356
+57,928
| +6% | +$33.3M |
|
131
Vanguard Short-Term Bond ETF
BSV
$44.6B
| $545M | 0.16% |
6,912,196
+164,362
| +2% | +$12.9M |
|
132
Vanguard Total International Bond ETF
BNDX
$82.1B
| $539M | 0.16% |
10,902,098
+762,010
| +8% | +$37.6M |
|
133
First Trust Morningstar Dividend Leaders Index Fund
FDL
$7.93B
| $530M | 0.15% |
12,205,749
+354,954
| +3% | +$15.4M |
|
134
IBM
IBM
$213B
| $525M | 0.15% |
1,860,246
+194,109
| +12% | +$50.8M |
|
135
Goldman Sachs MarketBeta US Equity ETF
GSUS
$3.11B
| $521M | 0.15% |
5,637,216
-94,318
| -2% | -$8.38M |
|
136
Invesco S&P MidCap Quality ETF
XMHQ
$5.45B
| $520M | 0.15% |
4,950,085
+35,481
| +0.7% | +$3.65M |
|
137
TSMC
TSM
$1.96T
| $519M | 0.15% |
1,857,847
+212,305
| +13% | +$51.9M |
|
138
iShares MSCI EAFE ETF
EFA
$76.3B
| $515M | 0.15% |
5,518,762
+486,012
| +10% | +$44.2M |
|
139
PGIM Ultra Short Bond ETF
PULS
$17.7B
| $512M | 0.15% |
10,278,642
+901,239
| +10% | +$44.8M |
|
140
Avantis US Small Cap Value ETF
AVUV
$30.2B
| $509M | 0.15% |
5,109,931
+226,811
| +5% | +$21.9M |
|
141
State Street SPDR S&P 600 Small Cap Value ETF
SLYV
$4.9B
| $489M | 0.14% |
5,512,449
+200,198
| +4% | +$17.1M |
|
142
T. Rowe Price Capital Appreciation Equity ETF
TCAF
$7.84B
| $489M | 0.14% |
12,959,194
+2,230,501
| +21% | +$81.6M |
|
|
TBIL
143
F/m US Treasury 3 Month Bill Fund
TBIL
$7.19B
| $479M | 0.14% |
9,581,257
-412,767
| -4% | -$20.6M |
|
144
Vanguard Mega Cap Growth ETF
MGK
$31.5B
| $470M | 0.14% |
5,843,590
+329,785
| +6% | +$25.3M |
|
145
iShares Core International Aggregate Bond Fund
IAGG
$10.9B
| $470M | 0.14% |
9,166,041
+1,070,952
| +13% | +$54.7M |
|
146
Caterpillar
CAT
$363B
| $469M | 0.14% |
983,209
-3,212
| -0.3% | -$1.37M |
|
147
JPMorgan Active Bond ETF
JBND
$8.45B
| $461M | 0.13% |
8,518,793
+1,363,424
| +19% | +$73.1M |
|
148
McDonald's
MCD
$193B
| $459M | 0.13% |
1,511,063
+143,033
| +10% | +$43.5M |
|
149
Capital Group Core Bond ETF
CGCB
$5.72B
| $454M | 0.13% |
17,063,864
+4,767,582
| +39% | +$126M |
|
150
iShares 7-10 Year Treasury Bond ETF
IEF
$47.3B
| $449M | 0.13% |
4,653,586
+156,434
| +3% | +$15M |
|
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.