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 | |
|---|---|---|---|---|---|---|
1651
Innovator Defined Wealth Shield ETF
BALT
$2.72B
| $13.1M | ﹤0.01% |
398,592
+198,722
| +99% | +$6.45M |
|
1652
FT Vest US Equity Buffer ETF November
FNOV
$1.21B
| $13M | ﹤0.01% |
245,046
+21,525
| +10% | +$1.11M |
|
1653
iShares North American Natural Resources ETF
IGE
$741M
| $12.9M | ﹤0.01% |
263,305
-7,106
| -3% | -$330K |
|
1654
Watsco Inc
WSO
$12.7B
| $12.9M | ﹤0.01% |
31,899
+3,423
| +12% | +$1.46M |
|
1655
WisdomTree US Multifactor Fund
USMF
$298M
| $12.9M | ﹤0.01% |
246,450
-129,720
| -34% | -$6.67M |
|
1656
F5
FFIV
$22.9B
| $12.9M | ﹤0.01% |
39,857
+540
| +1% | +$169K |
|
1657
Global X Dow 30 Covered Call ETF
DJIA
$185M
| $12.9M | ﹤0.01% |
589,065
+41,339
| +8% | +$897K |
|
|
IBTP
1658
iShares iBonds Dec 2034 Term Treasury ETF
IBTP
$278M
| $12.9M | ﹤0.01% |
496,608
+78,050
| +19% | +$2M |
|
|
P
1659
Everpure Inc
P
$25.7B
| $12.8M | ﹤0.01% |
153,280
+28,183
| +23% | +$1.87M |
|
1660
Hartford Multifactor Emerging Markets ETF
ROAM
$105M
| $12.8M | ﹤0.01% |
459,463
+147,404
| +47% | +$3.98M |
|
1661
Innovator US Equity Power Buffer ETF July
PJUL
$1.23B
| $12.8M | ﹤0.01% |
280,193
+24,827
| +10% | +$1.11M |
|
1662
Bahl & Gaynor Small/Mid Cap Income Growth ETF
SMIG
$1.53B
| $12.8M | ﹤0.01% |
430,964
-17,458
| -4% | -$515K |
|
1663
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.37B
| $12.8M | ﹤0.01% |
1,119,976
+192,296
| +21% | +$2.11M |
|
1664
Zimmer Biomet
ZBH
$18.2B
| $12.7M | ﹤0.01% |
129,201
+11,981
| +10% | +$1.19M |
|
1665
Boyd Gaming
BYD
$6.18B
| $12.7M | ﹤0.01% |
146,893
+24,780
| +20% | +$2.08M |
|
1666
US Global Jets ETF
JETS
$769M
| $12.7M | ﹤0.01% |
514,746
+105,941
| +26% | +$2.66M |
|
1667
Simplify Hedged Equity ETF
HEQT
$300M
| $12.7M | ﹤0.01% |
405,829
-222,395
| -35% | -$6.82M |
|
1668
iShares US Regional Banks ETF
IAT
$674M
| $12.7M | ﹤0.01% |
241,301
+33,071
| +16% | +$1.72M |
|
1669
Cohen & Steers Closed End Opportunity Fund
FOF
$377M
| $12.6M | ﹤0.01% |
970,008
+15,058
| +2% | +$194K |
|
1670
Franco-Nevada
FNV
$41.1B
| $12.6M | ﹤0.01% |
56,728
+34,486
| +155% | +$6.21M |
|
1671
iShares Global Healthcare ETF
IXJ
$4.07B
| $12.6M | ﹤0.01% |
142,398
+11,922
| +9% | +$1.03M |
|
1672
Pentair
PNR
$10.4B
| $12.6M | ﹤0.01% |
113,757
+8,585
| +8% | +$917K |
|
1673
CoStar Group
CSGP
$11.7B
| $12.6M | ﹤0.01% |
149,190
-310,773
| -68% | -$27.5M |
|
|
NNE
1674
Nano Nuclear Energy
NNE
$854M
| $12.6M | ﹤0.01% |
326,321
+43,327
| +15% | +$1.54M |
|
1675
State Street SPDR S&P Telecom ETF
XTL
$567M
| $12.6M | ﹤0.01% |
89,853
+74,648
| +491% | +$9.57M |
|
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.