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 | |
|---|---|---|---|---|---|---|
|
ALLW
1826
State Street Bridgewater All Weather ETF
ALLW
$1.62B
| $10.5M | ﹤0.01% |
+375,690
| New | +$10M |
|
1827
FT Vest US Equity Moderate Buffer ETF July
GJUL
$397M
| $10.4M | ﹤0.01% |
256,234
-3,051
| -1% | -$121K |
|
1828
UBS Group
UBS
$173B
| $10.4M | ﹤0.01% |
253,240
+38,090
| +18% | +$1.48M |
|
1829
First Trust Natural Gas ETF
FCG
$636M
| $10.4M | ﹤0.01% |
441,685
-34,787
| -7% | -$814K |
|
1830
VanEck Short Muni ETF
SMB
$311M
| $10.4M | ﹤0.01% |
594,531
+36,033
| +6% | +$625K |
|
1831
BlackRock Core Bond Trust
BHK
$650M
| $10.3M | ﹤0.01% |
1,041,165
-303,418
| -23% | -$2.94M |
|
1832
Okta
OKTA
$25B
| $10.3M | ﹤0.01% |
112,808
+12,819
| +13% | +$1.2M |
|
1833
First Trust Nasdaq Oil & Gas ETF
FTXN
$160M
| $10.3M | ﹤0.01% |
363,362
-127,467
| -26% | -$3.57M |
|
1834
Madrigal Pharmaceuticals
MDGL
$11.1B
| $10.3M | ﹤0.01% |
22,538
+8,417
| +60% | +$3.14M |
|
1835
Adaptive Alpha Opportunities ETF
AGOX
$378M
| $10.3M | ﹤0.01% |
336,138
-30,783
| -8% | -$918K |
|
1836
Harbor International Compounders ETF
OSEA
$486M
| $10.3M | ﹤0.01% |
348,279
-270,558
| -44% | -$7.9M |
|
1837
Mine Safety
MSA
$7.5B
| $10.3M | ﹤0.01% |
59,803
-13,216
| -18% | -$2.28M |
|
|
RUSC
1838
Russell Investments U.S. Small Cap Equity ETF
RUSC
$80.1M
| $10.3M | ﹤0.01% |
337,142
+37,582
| +13% | +$1.1M |
|
1839
Steris
STE
$22.6B
| $10.2M | ﹤0.01% |
41,335
+2,076
| +5% | +$497K |
|
1840
Neuberger Small-Mid Cap ETF
NBSM
$117M
| $10.2M | ﹤0.01% |
403,584
+108,915
| +37% | +$2.79M |
|
1841
Suncor Energy
SU
$77.7B
| $10.2M | ﹤0.01% |
243,477
+33,384
| +16% | +$1.34M |
|
1842
iShares iBonds Dec 2026 Term Muni Bond ETF
IBMO
$576M
| $10.1M | ﹤0.01% |
395,421
+6,764
| +2% | +$173K |
|
1843
iShares MSCI Singapore ETF
EWS
$1.05B
| $10.1M | ﹤0.01% |
357,469
-5,694
| -2% | -$157K |
|
|
MFSB
1844
MFS Active Core Plus Bond ETF
MFSB
$524M
| $10.1M | ﹤0.01% |
+401,279
| New | +$10.1M |
|
1845
Nuveen Municipal Value Fund
NUV
$1.91B
| $10.1M | ﹤0.01% |
1,123,833
-66,433
| -6% | -$579K |
|
1846
Innovator US Equity Power Buffer ETF August
PAUG
$859M
| $10.1M | ﹤0.01% |
237,195
+44,005
| +23% | +$1.83M |
|
1847
Saba Closed-End Funds ETF
CEFS
$429M
| $10M | ﹤0.01% |
441,236
+14,553
| +3% | +$328K |
|
1848
The Mosaic Company
MOS
$6.9B
| $10M | ﹤0.01% |
289,530
+107,536
| +59% | +$3.7M |
|
1849
Invesco Leisure and Entertainment ETF
PEJ
$253M
| $10M | ﹤0.01% |
165,592
+12,264
| +8% | +$724K |
|
1850
Innovator US Equity Power Buffer ETF May
PMAY
$811M
| $10M | ﹤0.01% |
257,662
+2,339
| +0.9% | +$89.6K |
|
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.