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 | |
|---|---|---|---|---|---|---|
1726
FT Vest US Equity Buffer ETF September
FSEP
$1.23B
| $11.7M | ﹤0.01% |
231,252
+36,348
| +19% | +$1.79M |
|
1727
Innovator US Equity Power Buffer ETF November
PNOV
$887M
| $11.7M | ﹤0.01% |
284,494
-1,648
| -0.6% | -$66.5K |
|
1728
FT Vest US Equity Buffer ETF January
FJAN
$1.44B
| $11.7M | ﹤0.01% |
232,783
+22,561
| +11% | +$1.1M |
|
1729
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.67B
| $11.7M | ﹤0.01% |
948,269
+189,786
| +25% | +$2.26M |
|
1730
iShares MSCI Italy ETF
EWI
$1.05B
| $11.7M | ﹤0.01% |
224,283
-172,017
| -43% | -$8.62M |
|
1731
JPMorgan Core Plus Bond ETF
JCPB
$13.9B
| $11.6M | ﹤0.01% |
244,600
+74,726
| +44% | +$3.52M |
|
1732
OGE Energy
OGE
$9.8B
| $11.6M | ﹤0.01% |
251,052
+7,801
| +3% | +$349K |
|
1733
Humana
HUM
$44.5B
| $11.6M | ﹤0.01% |
44,642
+4,651
| +12% | +$1.22M |
|
1734
iShares ESG Aware MSCI USA Small-Cap ETF
ESML
$2.85B
| $11.6M | ﹤0.01% |
257,514
+7,933
| +3% | +$345K |
|
1735
Franklin Resources
BEN
$18.3B
| $11.6M | ﹤0.01% |
501,293
-1,472,132
| -75% | -$36.4M |
|
1736
Vanguard Total Corporate Bond ETF
VTC
$1.72B
| $11.6M | ﹤0.01% |
147,517
+7,420
| +5% | +$575K |
|
1737
First Trust Indxx Innovative Transaction & Process ETF
LEGR
$131M
| $11.6M | ﹤0.01% |
205,665
+96,108
| +88% | +$5.25M |
|
1738
iShares Global Clean Energy ETF
ICLN
$2.34B
| $11.6M | ﹤0.01% |
746,294
+62,065
| +9% | +$879K |
|
1739
AB InBev
BUD
$166B
| $11.5M | ﹤0.01% |
193,650
-18,576
| -9% | -$1.17M |
|
1740
State Street SPDR Bloomberg International Corporate Bond ETF
IBND
$460M
| $11.5M | ﹤0.01% |
356,902
+212,881
| +148% | +$6.85M |
|
1741
Main Thematic Innovation ETF
TMAT
$241M
| $11.5M | ﹤0.01% |
425,562
+119,593
| +39% | +$3.02M |
|
1742
BlackRock Corporate High Yield Fund
HYT
$1.37B
| $11.5M | ﹤0.01% |
1,207,566
+172,521
| +17% | +$1.67M |
|
1743
iShares Global Energy ETF
IXC
$2.84B
| $11.4M | ﹤0.01% |
274,015
-126,215
| -32% | -$5.14M |
|
1744
Equinox Gold
EQX
$7.13B
| $11.4M | ﹤0.01% |
1,019,039
-134,031
| -12% | -$1.07M |
|
1745
John Hancock Preferred Income ETF
JHPI
$212M
| $11.4M | ﹤0.01% |
493,272
+140,644
| +40% | +$3.22M |
|
1746
BHP
BHP
$212B
| $11.4M | ﹤0.01% |
204,981
-19
| -0% | -$1.01K |
|
1747
Invesco Taxable Municipal Bond ETF
BAB
$1.01B
| $11.4M | ﹤0.01% |
418,713
+30,567
| +8% | +$817K |
|
1748
Direxion HCM Tactical Enhanced US ETF
HCMT
$577M
| $11.4M | ﹤0.01% |
303,762
+57,887
| +24% | +$2M |
|
1749
Genmab
GMAB
$17.4B
| $11.4M | ﹤0.01% |
371,256
+120,427
| +48% | +$2.93M |
|
|
QXO
1750
QXO Inc
QXO
$14.4B
| $11.4M | ﹤0.01% |
597,067
+353,560
| +145% | +$7.32M |
|
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.