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 | |
|---|---|---|---|---|---|---|
201
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.6B
| $319M | 0.09% |
4,075,119
-111,939
| -3% | -$9.04M |
|
202
Amplify CWP Enhanced Dividend Income ETF
DIVO
$7.55B
| $319M | 0.09% |
7,152,887
+525,576
| +8% | +$22.8M |
|
203
Pacer Trendpilot US Large Cap ETF
PTLC
$3.24B
| $317M | 0.09% |
5,782,072
+230,851
| +4% | +$12.1M |
|
204
Union Pacific
UNP
$175B
| $312M | 0.09% |
1,321,975
+108,884
| +9% | +$24.5M |
|
205
iShares Russell Mid-Cap ETF
IWR
$56.5B
| $310M | 0.09% |
3,206,867
+157,225
| +5% | +$14.9M |
|
206
Pfizer
PFE
$144B
| $309M | 0.09% |
12,138,255
+686,732
| +6% | +$16.9M |
|
207
Morgan Stanley
MS
$333B
| $309M | 0.09% |
1,943,688
-73,837
| -4% | -$10.9M |
|
208
CrowdStrike
CRWD
$185B
| $309M | 0.09% |
2,518,100
-54,012
| -2% | -$6.14M |
|
209
iShares Core MSCI Total International Stock ETF
IXUS
$57.4B
| $308M | 0.09% |
3,730,560
+257,131
| +7% | +$20.4M |
|
210
WisdomTree US LargeCap Dividend Fund
DLN
$6.29B
| $302M | 0.09% |
3,475,573
+226,126
| +7% | +$19.1M |
|
211
Uber
UBER
$144B
| $302M | 0.09% |
3,083,974
+379,532
| +14% | +$35.5M |
|
|
212
iShares MSCI EAFE Growth ETF
EFG
$16.3B
| $300M | 0.09% |
2,636,946
-3,437,379
| -57% | -$383M |
|
213
Vanguard Small-Cap Value ETF
VBR
$37.7B
| $298M | 0.09% |
1,430,106
-6,687
| -0.5% | -$1.37M |
|
214
Franklin International Low Volatility High Dividend Index ETF
LVHI
$5.36B
| $298M | 0.09% |
8,578,955
+655,606
| +8% | +$22.3M |
|
215
ServiceNow
NOW
$114B
| $298M | 0.09% |
1,616,740
+244,940
| +18% | +$45.8M |
|
216
FT Vest S&P 500 Dividend Aristocrats Target Income ETF
KNG
$3.48B
| $297M | 0.09% |
6,025,774
+321,076
| +6% | +$16M |
|
217
Vanguard Total International Stock ETF
VXUS
$153B
| $296M | 0.09% |
4,023,281
+615,405
| +18% | +$43.7M |
|
218
PIMCO Multi Sector Bond Active ETF
PYLD
$15.1B
| $291M | 0.08% |
10,856,136
+2,118,811
| +24% | +$56.3M |
|
219
Vanguard Mortgage-Backed Securities ETF
VMBS
$15.5B
| $289M | 0.08% |
6,154,440
+49,616
| +0.8% | +$2.3M |
|
220
First Trust Smith Opportunistic Fixed Income ETF
FIXD
$3.24B
| $287M | 0.08% |
6,464,074
+53,767
| +0.8% | +$2.37M |
|
221
NextEra Energy
NEE
$186B
| $287M | 0.08% |
3,802,921
+118,545
| +3% | +$8.66M |
|
222
State Street SPDR S&P Aerospace & Defense ETF
XAR
$6.08B
| $286M | 0.08% |
1,218,165
+81,388
| +7% | +$17.8M |
|
223
iShares 0-1 Year Treasury Bond ETF
SHV
$20.8B
| $286M | 0.08% |
2,583,945
+430,405
| +20% | +$47.5M |
|
224
Duke Energy
DUK
$101B
| $283M | 0.08% |
2,287,999
+313,696
| +16% | +$38.1M |
|
225
Merck
MRK
$326B
| $283M | 0.08% |
3,372,059
+59,942
| +2% | +$4.94M |
|
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.