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 | |
|---|---|---|---|---|---|---|
2326
State Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
EFAX
$513M
| $5.88M | ﹤0.01% |
119,191
-12,973
| -10% | -$623K |
|
2327
Golub Capital BDC
GBDC
$3.41B
| $5.87M | ﹤0.01% |
428,948
+6,493
| +2% | +$95.6K |
|
2328
Global X SuperIncome Preferred ETF
SPFF
$142M
| $5.87M | ﹤0.01% |
635,115
-55,670
| -8% | -$514K |
|
2329
Gaming and Leisure Properties
GLPI
$12.6B
| $5.85M | ﹤0.01% |
125,575
-2,228
| -2% | -$105K |
|
2330
FlexShares High Yield Value-Scored Bond Index Fund
HYGV
$1.1B
| $5.85M | ﹤0.01% |
142,026
-5,932
| -4% | -$243K |
|
|
CADE
2331
DELISTED
Cadence Bank
CADE
| $5.85M | ﹤0.01% |
155,781
+4,308
| +3% | +$155K |
|
2332
JPMorgan Inflation Managed Bond ETF
JCPI
$868M
| $5.83M | ﹤0.01% |
119,493
+14,366
| +14% | +$696K |
|
2333
Nuveen California Quality Municipal Income Fund
NAC
$1.84B
| $5.83M | ﹤0.01% |
506,859
+72,847
| +17% | +$818K |
|
2334
Cars.com
CARS
$668M
| $5.82M | ﹤0.01% |
476,365
+17,127
| +4% | +$220K |
|
2335
Nice
NICE
$6.05B
| $5.81M | ﹤0.01% |
40,109
+10,085
| +34% | +$1.51M |
|
|
HQL
2336
abrdn Life Sciences Investors
HQL
$599M
| $5.8M | ﹤0.01% |
374,059
+29,700
| +9% | +$407K |
|
2337
Home BancShares
HOMB
$6.3B
| $5.8M | ﹤0.01% |
204,896
-2,660
| -1% | -$77.3K |
|
2338
Moderna
MRNA
$22.8B
| $5.79M | ﹤0.01% |
224,173
+39,010
| +21% | +$1.09M |
|
|
EXE
2339
Expand Energy Corp
EXE
$21.5B
| $5.76M | ﹤0.01% |
54,249
-1,478
| -3% | -$148K |
|
2340
Onto Innovation
ONTO
$14.3B
| $5.76M | ﹤0.01% |
44,583
+2,387
| +6% | +$255K |
|
2341
CareTrust REIT
CTRE
$9.65B
| $5.75M | ﹤0.01% |
165,778
+4,973
| +3% | +$164K |
|
2342
Telus
TU
$15B
| $5.75M | ﹤0.01% |
364,464
+38,382
| +12% | +$623K |
|
2343
Tradeweb Markets
TW
$21.4B
| $5.75M | ﹤0.01% |
51,786
+7,576
| +17% | +$974K |
|
2344
Vanguard US Quality Factor ETF
VFQY
$494M
| $5.73M | ﹤0.01% |
38,010
+323
| +0.9% | +$47.9K |
|
2345
Armstrong World Industries
AWI
$7.74B
| $5.73M | ﹤0.01% |
29,227
+2,332
| +9% | +$434K |
|
2346
Invesco BulletShares 2029 Municipal Bond ETF
BSMT
$283M
| $5.73M | ﹤0.01% |
247,954
+32,476
| +15% | +$744K |
|
2347
Primoris Services
PRIM
$4.93B
| $5.7M | ﹤0.01% |
41,499
+23,801
| +134% | +$2.56M |
|
2348
AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF
SIXO
$123M
| $5.7M | ﹤0.01% |
168,053
+147,915
| +735% | +$4.97M |
|
|
RIFR
2349
Russell Investments Global Infrastructure ETF
RIFR
$43.4M
| $5.69M | ﹤0.01% |
219,331
+27,297
| +14% | +$695K |
|
2350
OSI Systems
OSIS
$3.9B
| $5.69M | ﹤0.01% |
22,816
+6,732
| +42% | +$1.54M |
|
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.