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 | |
|---|---|---|---|---|---|---|
1801
APA Corp
APA
$13.1B
| $10.8M | ﹤0.01% |
442,851
+69,184
| +19% | +$1.46M |
|
1802
Innovator US Equity Power Buffer ETF April
PAPR
$956M
| $10.7M | ﹤0.01% |
280,127
+31,853
| +13% | +$1.21M |
|
1803
Fidelity MSCI Communication Services Index ETF
FCOM
$1.82B
| $10.7M | ﹤0.01% |
151,386
-89,747
| -37% | -$6.07M |
|
1804
BlackRock Credit Allocation Income Trust
BTZ
$936M
| $10.7M | ﹤0.01% |
972,196
+300,243
| +45% | +$3.3M |
|
1805
Davis Select Worldwide ETF
DWLD
$617M
| $10.7M | ﹤0.01% |
236,993
+34,378
| +17% | +$1.48M |
|
1806
Pacer US Cash Cows Growth ETF
BUL
$133M
| $10.7M | ﹤0.01% |
204,713
+94,350
| +85% | +$4.91M |
|
1807
Las Vegas Sands
LVS
$30.4B
| $10.7M | ﹤0.01% |
199,141
-26,851
| -12% | -$1.41M |
|
1808
WisdomTree Efficient Gold Plus Equity Strategy Fund
GDE
$439M
| $10.7M | ﹤0.01% |
186,202
+97,332
| +110% | +$4.92M |
|
|
QQQH
1809
NEOS Nasdaq-100 Hedged Equity Income ETF
QQQH
$377M
| $10.6M | ﹤0.01% |
195,752
+76,073
| +64% | +$4.06M |
|
1810
First Trust Alternative Absolute Return Strategy ETF
FAAR
$189M
| $10.6M | ﹤0.01% |
349,004
+46,060
| +15% | +$1.35M |
|
1811
CarMax
KMX
$8.2B
| $10.6M | ﹤0.01% |
236,635
+18,116
| +8% | +$1.08M |
|
1812
Franklin US Treasury Bond ETF
FLGV
$1.03B
| $10.6M | ﹤0.01% |
513,794
+87,098
| +20% | +$1.79M |
|
1813
Applied Digital
APLD
$8.47B
| $10.6M | ﹤0.01% |
461,637
+15,226
| +3% | +$225K |
|
1814
Innovator Laddered Allocation Buffer ETF
BUFB
$322M
| $10.6M | ﹤0.01% |
296,292
+11,611
| +4% | +$404K |
|
1815
NiSource
NI
$21.3B
| $10.6M | ﹤0.01% |
244,246
+19,740
| +9% | +$817K |
|
1816
VictoryShares US 500 Volatility Wtd ETF
CFA
$541M
| $10.6M | ﹤0.01% |
116,158
-3,001
| -3% | -$269K |
|
1817
Wintrust Financial
WTFC
$10.9B
| $10.6M | ﹤0.01% |
79,766
+20,694
| +35% | +$2.73M |
|
1818
iShares MSCI Taiwan ETF
EWT
$10.1B
| $10.6M | ﹤0.01% |
165,878
-268,734
| -62% | -$16.2M |
|
1819
Texas Roadhouse
TXRH
$13.9B
| $10.6M | ﹤0.01% |
63,510
-5,728
| -8% | -$1.01M |
|
1820
Invesco S&P 500 Equal Weight Energy ETF
RSPG
$560M
| $10.5M | ﹤0.01% |
132,335
-48,268
| -27% | -$3.7M |
|
1821
National Fuel Gas
NFG
$7.86B
| $10.5M | ﹤0.01% |
114,008
+14,779
| +15% | +$1.29M |
|
1822
Franklin US Equity Index ETF
USPX
$2.03B
| $10.5M | ﹤0.01% |
179,348
+5,751
| +3% | +$324K |
|
1823
On Holding
ONON
$12.6B
| $10.5M | ﹤0.01% |
247,850
-193,553
| -44% | -$9.21M |
|
1824
VanEck Agribusiness ETF
MOO
$972M
| $10.5M | ﹤0.01% |
142,875
-75,574
| -35% | -$5.59M |
|
1825
Rambus
RMBS
$9.98B
| $10.5M | ﹤0.01% |
100,601
+13,418
| +15% | +$1.03M |
|
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.