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 | |
|---|---|---|---|---|---|---|
|
EMD
2001
Western Asset Emerging Markets Debt Fund
EMD
$612M
| $8.71M | ﹤0.01% |
844,302
+31,803
| +4% | +$326K |
|
2002
Fidelity Stocks for Inflation ETF
FCPI
$276M
| $8.71M | ﹤0.01% |
173,821
+40,925
| +31% | +$1.96M |
|
2003
Cambria Global Asset Allocation ETF
GAA
$72.1M
| $8.7M | ﹤0.01% |
275,490
-5,180
| -2% | -$161K |
|
2004
SPS Commerce
SPSC
$2.72B
| $8.69M | ﹤0.01% |
83,454
+29,224
| +54% | +$3.48M |
|
2005
JD.com
JD
$44.6B
| $8.67M | ﹤0.01% |
247,745
+50,534
| +26% | +$1.65M |
|
2006
Waters Corp
WAT
$36.8B
| $8.63M | ﹤0.01% |
28,799
-1,763
| -6% | -$532K |
|
2007
Innovator US Equity Power Buffer ETF March
PMAR
$767M
| $8.63M | ﹤0.01% |
196,546
+25,159
| +15% | +$1.08M |
|
2008
Trimble
TRMB
$13.5B
| $8.62M | ﹤0.01% |
105,622
+31,025
| +42% | +$2.53M |
|
2009
Lincoln Electric
LECO
$14.6B
| $8.62M | ﹤0.01% |
36,565
+1,777
| +5% | +$416K |
|
2010
Urban Outfitters
URBN
$6.65B
| $8.61M | ﹤0.01% |
120,517
+4,033
| +3% | +$297K |
|
2011
ProShares Ultra QQQ
QLD
$13.2B
| $8.6M | ﹤0.01% |
125,338
+15,988
| +15% | +$1.01M |
|
2012
Invesco S&P 500 Equal Weight Real Estate ETF
RSPR
$103M
| $8.58M | ﹤0.01% |
242,034
+160
| +0.1% | +$5.64K |
|
2013
State Street SPDR S&P Kensho New Economies Composite ETF
KOMP
$2.69B
| $8.58M | ﹤0.01% |
137,814
+10,146
| +8% | +$587K |
|
2014
JPMorgan ActiveBuilders Emerging Markets Equity ETF
JEMA
$1.63B
| $8.56M | ﹤0.01% |
180,003
+7,589
| +4% | +$340K |
|
2015
BlackRock Floating Rate Income Trust
BGT
$322M
| $8.54M | ﹤0.01% |
703,086
+37,406
| +6% | +$466K |
|
2016
WisdomTree International Efficient Core Fund
NTSI
$496M
| $8.54M | ﹤0.01% |
199,770
+137,385
| +220% | +$5.74M |
|
2017
Vanguard US Multifactor ETF
VFMF
$730M
| $8.54M | ﹤0.01% |
59,167
+8,097
| +16% | +$1.13M |
|
2018
Rentokil
RTO
$12B
| $8.53M | ﹤0.01% |
337,655
+278,072
| +467% | +$6.78M |
|
2019
Performance Food Group
PFGC
$18B
| $8.52M | ﹤0.01% |
81,933
-16,733
| -17% | -$1.68M |
|
2020
Virtus Terranova US Quality Momentum ETF
JOET
$243M
| $8.52M | ﹤0.01% |
198,171
+55,730
| +39% | +$2.32M |
|
2021
Vanguard California Tax-Exempt Bond ETF
VTEC
$2.79B
| $8.52M | ﹤0.01% |
85,378
+20,745
| +32% | +$2.03M |
|
2022
Inspire Corporate Bond ETF
IBD
$489M
| $8.48M | ﹤0.01% |
351,080
+4,903
| +1% | +$118K |
|
2023
Service Corp International
SCI
$11.7B
| $8.47M | ﹤0.01% |
101,726
-7,380
| -7% | -$589K |
|
|
PSIX
2024
Power Solutions International
PSIX
$663M
| $8.46M | ﹤0.01% |
86,142
+40,235
| +88% | +$3.57M |
|
2025
Invesco S&P Global Water Index ETF
CGW
$1.06B
| $8.46M | ﹤0.01% |
131,670
+1,840
| +1% | +$116K |
|
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.