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 | |
|---|---|---|---|---|---|---|
|
TOPT
1526
iShares Top 20 U.S. Stocks ETF
TOPT
$665M
| $15.6M | ﹤0.01% |
510,961
+209,218
| +69% | +$6.02M |
|
1527
Baker Hughes
BKR
$60B
| $15.6M | ﹤0.01% |
319,220
+2,266
| +0.7% | +$100K |
|
1528
First Trust Ultra Short Duration Municipal ETF
FUMB
$246M
| $15.5M | ﹤0.01% |
773,273
+38,818
| +5% | +$782K |
|
1529
iShares MSCI Brazil ETF
EWZ
$9.28B
| $15.5M | ﹤0.01% |
500,360
-229,040
| -31% | -$6.56M |
|
1530
iShares iBonds 2027 Term High Yield and Income ETF
IBHG
$509M
| $15.5M | ﹤0.01% |
687,709
+281,673
| +69% | +$6.32M |
|
|
CHY
1531
Calamos Convertible and High Income Fund
CHY
$1.01B
| $15.4M | ﹤0.01% |
1,376,192
+93,812
| +7% | +$1.03M |
|
1532
Cleveland-Cliffs
CLF
$6.57B
| $15.4M | ﹤0.01% |
1,265,512
+93,385
| +8% | +$982K |
|
1533
DraftKings
DKNG
$11.6B
| $15.4M | ﹤0.01% |
412,517
+6,622
| +2% | +$294K |
|
1534
Wynn Resorts
WYNN
$10.3B
| $15.4M | ﹤0.01% |
120,277
+28,335
| +31% | +$3.27M |
|
1535
Simplify Stable Income ETF
BUCK
$480M
| $15.4M | ﹤0.01% |
646,224
+171,847
| +36% | +$4.08M |
|
1536
Insmed
INSM
$21.4B
| $15.4M | ﹤0.01% |
106,938
+35,526
| +50% | +$4.35M |
|
1537
Tapestry
TPR
$30.8B
| $15.4M | ﹤0.01% |
135,919
+7,057
| +5% | +$738K |
|
1538
Cohen & Steers Infrastructure Fund
UTF
$3.11B
| $15.4M | ﹤0.01% |
619,417
-10,336
| -2% | -$271K |
|
1539
State Street SPDR ICE Preferred Securities ETF
PSK
$692M
| $15.4M | ﹤0.01% |
464,200
-32,100
| -6% | -$1.05M |
|
1540
Ciena
CIEN
$53.4B
| $15.3M | ﹤0.01% |
105,343
+41,314
| +65% | +$4.21M |
|
1541
Neuberger Option Strategy ETF
NBOS
$470M
| $15.3M | ﹤0.01% |
571,095
+21,499
| +4% | +$568K |
|
1542
KeyCorp
KEY
$24.2B
| $15.3M | ﹤0.01% |
820,108
+46,396
| +6% | +$859K |
|
1543
JPMorgan BetaBuilders Europe ETF
BBEU
$9.35B
| $15.3M | ﹤0.01% |
220,164
+19,929
| +10% | +$1.36M |
|
1544
TechnipFMC
FTI
$28.1B
| $15.3M | ﹤0.01% |
387,287
-48,791
| -11% | -$1.79M |
|
1545
Nu Holdings
NU
$69.2B
| $15.3M | ﹤0.01% |
952,601
+163,363
| +21% | +$2.28M |
|
1546
Banco Santander
SAN
$201B
| $15.2M | ﹤0.01% |
1,451,335
+539,476
| +59% | +$5.02M |
|
1547
APi Group
APG
$17.1B
| $15.2M | ﹤0.01% |
441,681
-14,241
| -3% | -$497K |
|
1548
Texas Pacific Land
TPL
$27.8B
| $15.2M | ﹤0.01% |
48,768
+9,198
| +23% | +$2.9M |
|
1549
Schwab Fundamental Emerging Markets Large Company Index ETF
FNDE
$9.72B
| $15.2M | ﹤0.01% |
419,541
+149,557
| +55% | +$5.15M |
|
1550
State Street SPDR MSCI USA Gender Diversity ETF
SHE
$325M
| $15.2M | ﹤0.01% |
118,979
+3,911
| +3% | +$490K |
|
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.