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 | |
|---|---|---|---|---|---|---|
1926
Guidewire Software
GWRE
$13.1B
| $9.36M | ﹤0.01% |
40,731
+3,412
| +9% | +$776K |
|
1927
The Ensign Group
ENSG
$10.3B
| $9.35M | ﹤0.01% |
54,095
+7,437
| +16% | +$1.19M |
|
1928
iShares US Oil & Gas Exploration & Production ETF
IEO
$565M
| $9.34M | ﹤0.01% |
100,864
-592
| -0.6% | -$53.7K |
|
1929
Bank of America Series L
BAC.PRL
$3.97B
| $9.34M | ﹤0.01% |
7,294
-996
| -12% | -$1.24M |
|
1930
Atlassian
TEAM
$26.3B
| $9.32M | ﹤0.01% |
58,367
-17,132
| -23% | -$3.1M |
|
|
PCF
1931
High Income Securities Fund
PCF
$98.8M
| $9.32M | ﹤0.01% |
1,467,868
-46,480
| -3% | -$298K |
|
1932
Invesco Municipal Opportunity Trust
VMO
$649M
| $9.32M | ﹤0.01% |
963,543
+773,697
| +408% | +$7.16M |
|
1933
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
| $9.32M | ﹤0.01% |
414,763
-36,899
| -8% | -$821K |
|
1934
Global X SuperDividend REIT ETF
SRET
$233M
| $9.31M | ﹤0.01% |
430,297
-2,138
| -0.5% | -$45.9K |
|
1935
Pacer Cash Cows Fund of Funds ETF
HERD
$101M
| $9.31M | ﹤0.01% |
219,778
+16,224
| +8% | +$673K |
|
1936
Pacer Emerging Markets Cash Cows 100 ETF
ECOW
$221M
| $9.31M | ﹤0.01% |
380,837
+66,368
| +21% | +$1.54M |
|
1937
First Trust NASDAQ 100 ex-Technology Sector Index Fund
QQXT
$156M
| $9.31M | ﹤0.01% |
94,074
+13,418
| +17% | +$1.33M |
|
1938
FT Vest US Equity Buffer ETF December
FDEC
$1.34B
| $9.3M | ﹤0.01% |
188,948
+32,422
| +21% | +$1.55M |
|
1939
NNN REIT
NNN
$9.03B
| $9.3M | ﹤0.01% |
218,496
-8,866
| -4% | -$376K |
|
1940
Restaurant Brands International
QSR
$25.3B
| $9.29M | ﹤0.01% |
144,860
+85,895
| +146% | +$5.65M |
|
|
WTPI
1941
WisdomTree Equity Premium Income Fund
WTPI
$500M
| $9.29M | ﹤0.01% |
279,171
+98,649
| +55% | +$3.22M |
|
1942
JPMorgan BetaBuilders Japan ETF
BBJP
$18.1B
| $9.28M | ﹤0.01% |
139,975
-74,700
| -35% | -$4.77M |
|
1943
Invesco S&P SmallCap Low Volatility ETF
XSLV
$249M
| $9.27M | ﹤0.01% |
200,078
-39,520
| -16% | -$1.84M |
|
1944
Illumina
ILMN
$30B
| $9.26M | ﹤0.01% |
97,505
+695
| +0.7% | +$68.9K |
|
1945
Keurig Dr Pepper
KDP
$42.1B
| $9.26M | ﹤0.01% |
362,984
-158,776
| -30% | -$4.98M |
|
1946
Cooper Companies
COO
$14.5B
| $9.26M | ﹤0.01% |
135,042
-3,049
| -2% | -$216K |
|
|
ZTR
1947
Virtus Total Return Fund
ZTR
$337M
| $9.25M | ﹤0.01% |
1,433,642
+188,892
| +15% | +$1.18M |
|
1948
Canadian Natural Resources
CNQ
$96.7B
| $9.25M | ﹤0.01% |
289,330
+63,704
| +28% | +$2M |
|
1949
iShares MSCI South Korea ETF
EWY
$23.3B
| $9.24M | ﹤0.01% |
115,342
+9,307
| +9% | +$693K |
|
1950
Dillards
DDS
$9.57B
| $9.21M | ﹤0.01% |
14,989
+517
| +4% | +$267K |
|
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.