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 | |
|---|---|---|---|---|---|---|
2451
ProShares Ultra S&P500
SSO
$8.32B
| $5.05M | ﹤0.01% |
90,076
+38,096
| +73% | +$1.99M |
|
2452
Astrana Health
ASTH
$1.77B
| $5.05M | ﹤0.01% |
+178,034
| New | +$4.82M |
|
2453
Eaton Vance Ultra-Short Income ETF
EVSB
$244M
| $5.03M | ﹤0.01% |
98,713
+25,195
| +34% | +$1.28M |
|
2454
Campbell Soup
CPB
$6.79B
| $5.03M | ﹤0.01% |
159,138
+51,605
| +48% | +$1.67M |
|
2455
FlexShares Credit-Scored US Corporate Bond Index Fund
SKOR
$737M
| $5.02M | ﹤0.01% |
101,985
+12,482
| +14% | +$610K |
|
2456
STAG Industrial
STAG
$7.28B
| $5.02M | ﹤0.01% |
142,281
-11,589
| -8% | -$413K |
|
2457
iShares Asia/Pacific Dividend ETF
DVYA
$71.8M
| $5.02M | ﹤0.01% |
119,404
+77,159
| +183% | +$3.18M |
|
|
TYG
2458
Tortoise Energy Infrastructure Corp
TYG
$1.08B
| $5.01M | ﹤0.01% |
116,161
+6,784
| +6% | +$291K |
|
|
NCV
2459
Virtus Convertible & Income Fund
NCV
$384M
| $4.99M | ﹤0.01% |
332,660
+14,984
| +5% | +$219K |
|
|
DFSU
2460
Dimensional US Sustainability Core 1 ETF
DFSU
$2.34B
| $4.99M | ﹤0.01% |
117,383
+27,781
| +31% | +$1.14M |
|
2461
Burlington
BURL
$23.2B
| $4.98M | ﹤0.01% |
19,585
-8,341
| -30% | -$2.27M |
|
2462
Merit Medical Systems
MMSI
$5.12B
| $4.98M | ﹤0.01% |
59,789
-4,955
| -8% | -$432K |
|
2463
Yum China
YUMC
$16.4B
| $4.97M | ﹤0.01% |
115,856
+4,627
| +4% | +$210K |
|
|
STEW
2464
SRH Total Return Fund
STEW
$1.81B
| $4.96M | ﹤0.01% |
273,347
+36,938
| +16% | +$664K |
|
2465
iShares Currency Hedged MSCI EAFE Small-Cap ETF
HSCZ
$243M
| $4.96M | ﹤0.01% |
131,823
-25,082
| -16% | -$919K |
|
2466
Kimbell Royalty Partners
KRP
$1.44B
| $4.96M | ﹤0.01% |
367,399
+93,178
| +34% | +$1.31M |
|
2467
NewMarket
NEU
$8.18B
| $4.95M | ﹤0.01% |
5,982
+1,536
| +35% | +$1.18M |
|
2468
International Flavors & Fragrances
IFF
$20.7B
| $4.95M | ﹤0.01% |
80,449
+28,179
| +54% | +$1.94M |
|
2469
FT Vest US Equity Buffer ETF February
FFEB
$1.4B
| $4.94M | ﹤0.01% |
89,551
+2,819
| +3% | +$151K |
|
2470
Agree Realty
ADC
$9.49B
| $4.92M | ﹤0.01% |
69,255
+23,961
| +53% | +$1.74M |
|
2471
UDR
UDR
$12.4B
| $4.91M | ﹤0.01% |
131,767
+8,931
| +7% | +$348K |
|
2472
BlackRock MuniAssets Fund
MUA
$515M
| $4.89M | ﹤0.01% |
440,774
+40,298
| +10% | +$431K |
|
2473
WisdomTree Japan SmallCap Dividend Fund
DFJ
$390M
| $4.89M | ﹤0.01% |
51,578
+13,564
| +36% | +$1.24M |
|
2474
State Street SPDR S&P Retail ETF
XRT
$332M
| $4.89M | ﹤0.01% |
56,743
-12,190
| -18% | -$1.02M |
|
2475
Ryder
R
$10.3B
| $4.89M | ﹤0.01% |
25,922
+1,380
| +6% | +$249K |
|
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.