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 | |
|---|---|---|---|---|---|---|
1676
Invesco KBW High Dividend Yield Financial ETF
KBWD
$408M
| $12.6M | ﹤0.01% |
928,493
+2,984
| +0.3% | +$41.8K |
|
1677
Banco Bilbao Vizcaya Argentaria
BBVA
$154B
| $12.5M | ﹤0.01% |
651,826
+48,117
| +8% | +$842K |
|
1678
PIMCO 1-5 Year US TIPS Index Exchange-Traded Fund
STPZ
$506M
| $12.5M | ﹤0.01% |
231,098
+28,605
| +14% | +$1.55M |
|
1679
Northern Trust
NTRS
$33.3B
| $12.5M | ﹤0.01% |
93,018
+17,106
| +23% | +$2.2M |
|
1680
Tyson Foods
TSN
$20.4B
| $12.5M | ﹤0.01% |
230,217
+1,184
| +0.5% | +$65.4K |
|
1681
Rivian
RIVN
$22B
| $12.5M | ﹤0.01% |
851,307
+56,018
| +7% | +$751K |
|
1682
Invesco Financial Preferred ETF
PGF
$677M
| $12.5M | ﹤0.01% |
854,754
-120,471
| -12% | -$1.74M |
|
|
PRMB
1683
Primo Brands
PRMB
$8.24B
| $12.5M | ﹤0.01% |
565,252
-80,090
| -12% | -$2.07M |
|
1684
J.M. Smucker
SJM
$12.7B
| $12.5M | ﹤0.01% |
114,958
-2,265
| -2% | -$246K |
|
1685
WisdomTree Managed Futures Strategy Fund
WTMF
$245M
| $12.5M | ﹤0.01% |
329,065
+63,110
| +24% | +$2.3M |
|
1686
Franklin FTSE United Kingdom ETF
FLGB
$910M
| $12.5M | ﹤0.01% |
385,755
-4,139
| -1% | -$130K |
|
1687
ProShares Nasdaq-100 High Income ETF
IQQQ
$395M
| $12.4M | ﹤0.01% |
282,436
+74,323
| +36% | +$3.13M |
|
1688
Toll Brothers
TOL
$13.6B
| $12.4M | ﹤0.01% |
89,652
+3,773
| +4% | +$493K |
|
1689
First Trust Materials AlphaDEX Fund
FXZ
$368M
| $12.4M | ﹤0.01% |
200,908
+6,685
| +3% | +$403K |
|
1690
Invesco Zacks Mid-Cap ETF
CZA
$190M
| $12.4M | ﹤0.01% |
112,553
-8,178
| -7% | -$885K |
|
1691
Vanguard S&P Small-Cap 600 Value ETF
VIOV
$1.85B
| $12.3M | ﹤0.01% |
129,521
+6,355
| +5% | +$582K |
|
1692
Fidelity Limited Term Bond ETF
FLTB
$414M
| $12.3M | ﹤0.01% |
243,053
+123,301
| +103% | +$6.23M |
|
1693
Ralph Lauren
RL
$22.6B
| $12.3M | ﹤0.01% |
39,213
+3,739
| +11% | +$1.11M |
|
1694
Invesco S&P 500 Equal Weight Health Care ETF
RSPH
$766M
| $12.3M | ﹤0.01% |
417,149
-33,354
| -7% | -$966K |
|
1695
iShares MSCI Spain ETF
EWP
$2.11B
| $12.3M | ﹤0.01% |
247,501
-255,945
| -51% | -$12M |
|
1696
FT Vest SMID Rising Dividend Achievers Target Income ETF
SDVD
$918M
| $12.3M | ﹤0.01% |
566,649
+166,436
| +42% | +$3.55M |
|
1697
Affirm
AFRM
$23.9B
| $12.2M | ﹤0.01% |
166,316
+46,111
| +38% | +$3.51M |
|
1698
First Trust Dow Jones Select MicroCap Index Fund
FDM
$261M
| $12.2M | ﹤0.01% |
160,434
+18,623
| +13% | +$1.37M |
|
|
DOCU
1699
DocuSign
DOCU
$10.5B
| $12.1M | ﹤0.01% |
168,218
-7,255
| -4% | -$559K |
|
1700
Listed Funds Trust Roundhill Magnificent Seven ETF
MAGS
$3.69B
| $12.1M | ﹤0.01% |
186,598
+135,031
| +262% | +$8.07M |
|
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.