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 | |
|---|---|---|---|---|---|---|
|
IWMI
1976
NEOS Russell 2000 High Income ETF
IWMI
$1.12B
| $8.93M | ﹤0.01% |
183,753
+81,159
| +79% | +$3.83M |
|
1977
Pacer Swan SOS Fund of Funds ETF
PSFF
$596M
| $8.9M | ﹤0.01% |
281,707
-4,768
| -2% | -$148K |
|
|
IBMN
1978
DELISTED
iShares iBonds Dec 2025 Term Muni Bond ETF
IBMN
| $8.9M | ﹤0.01% |
332,039
-77,929
| -19% | -$2.09M |
|
1979
Powell Industries
POWL
$8B
| $8.89M | ﹤0.01% |
87,498
-16,512
| -16% | -$1.4M |
|
|
FIVA
1980
Fidelity International Value Factor ETF
FIVA
$592M
| $8.89M | ﹤0.01% |
284,159
+49,326
| +21% | +$1.5M |
|
1981
First Majestic Silver
AG
$7.74B
| $8.86M | ﹤0.01% |
721,312
-31,680
| -4% | -$294K |
|
1982
Keysight
KEYS
$55B
| $8.85M | ﹤0.01% |
50,621
-2,471
| -5% | -$412K |
|
1983
Antero Midstream
AM
$10.4B
| $8.85M | ﹤0.01% |
455,001
+73,974
| +19% | +$1.34M |
|
1984
Fabrinet
FN
$16.3B
| $8.84M | ﹤0.01% |
24,255
+1,967
| +9% | +$648K |
|
1985
FlexShares Ultra-Short Income Fund
RAVI
$1.49B
| $8.84M | ﹤0.01% |
116,879
-1,385
| -1% | -$105K |
|
1986
Akamai
AKAM
$17.1B
| $8.84M | ﹤0.01% |
116,652
+74,019
| +174% | +$5.71M |
|
1987
Daktronics
DAKT
$1,000M
| $8.79M | ﹤0.01% |
420,320
-4,158
| -1% | -$74.6K |
|
1988
State Street SPDR S&P Pharmaceuticals ETF
XPH
$491M
| $8.79M | ﹤0.01% |
183,397
+71,722
| +64% | +$3.21M |
|
|
CGUI
1989
Capital Group Ultra Short Income ETF
CGUI
$316M
| $8.79M | ﹤0.01% |
+347,462
| New | +$8.79M |
|
1990
Regency Centers
REG
$14.7B
| $8.78M | ﹤0.01% |
120,492
-8,757
| -7% | -$625K |
|
|
POWR
1991
iShares U.S. Power Infrastructure ETF
POWR
$458M
| $8.78M | ﹤0.01% |
350,121
+1,180
| +0.3% | +$29K |
|
1992
ALPS International Sector Dividend Dogs ETF
IDOG
$552M
| $8.78M | ﹤0.01% |
246,576
+169,120
| +218% | +$5.96M |
|
1993
Eaton Vance Short Duration Municipal Income ETF
EVSM
$780M
| $8.78M | ﹤0.01% |
174,040
+104,920
| +152% | +$5.28M |
|
1994
Stanley Black & Decker
SWK
$14.8B
| $8.78M | ﹤0.01% |
118,055
+12,779
| +12% | +$937K |
|
1995
Rithm Capital
RITM
$5.62B
| $8.77M | ﹤0.01% |
769,631
+56,003
| +8% | +$679K |
|
|
FSGS
1996
First Trust SMID Growth Strength ETF
FSGS
$31.4M
| $8.76M | ﹤0.01% |
280,662
+11,133
| +4% | +$344K |
|
1997
iShares GNMA Bond ETF
GNMA
$421M
| $8.76M | ﹤0.01% |
197,451
+38,258
| +24% | +$1.68M |
|
1998
Coupang
CPNG
$29.5B
| $8.72M | ﹤0.01% |
270,876
+91,273
| +51% | +$2.76M |
|
1999
Essex Property Trust
ESS
$18.4B
| $8.72M | ﹤0.01% |
32,574
+1,241
| +4% | +$335K |
|
2000
Invesco Galaxy Bitcoin ETF
BTCO
$428M
| $8.72M | ﹤0.01% |
76,446
+20,952
| +38% | +$2.39M |
|
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.