LPL Financial Holdings

LPLA • NASDAQ

LPL Financial Holdings is a financial - capital markets company in the financial services sector on NASDAQ, led by Richard Steinmeier, with a market cap of $30.2B. As of Q3 2025, 98% of shares are held by 733 institutional investors, with VANGUARD GROUP INC as the largest holder at 10.38%.

CEORichard Steinmeier

Market Cap$30.2B

Financial - Capital Markets

Financial Services

Employees8.7K

Websitelpl.com

Country

United States of America

Overview

Overview of institutional ownership in LPLA as of Q3 2025 with a market cap of $26.6B

All Institutions

Institutions: 733
Value Held: $26.0B
Shares Held: 78.4M
Avg Position: $35.5M
Median Position: $865.7K

Hedge Funds

Hedge Funds: 59
Value Held: $3.4B
Shares Held: 10.3M
Avg Position: $57.9M
Median Position: $8.1M

Ownership Breakdown

Institutional (non-HF)

85.02%

$22.6B

Hedge Funds

12.85%

$3.4B

Retail & Other

2.14%

$568.6M

Based on market cap of $26.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in LPLA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.8B 0.04% of portfolio	10.38% 8.3M shares	≤ Q2 2013 Held for 12y 6m+	$6.69T
BlackRock, Inc. Institution	Laurence D. Fink CEO	$1.7B 0.03% of portfolio	6.22% 5.0M shares	≤ Q2 2013 Held for 12y 6m+	$5.67T
Robeco Investment Management, Inc. Long Only Manager	Joseph Francis Feeney CEO	$1.2B 1.25% of portfolio	4.59% 3.7M shares	Q4 2018 Held for 7 years	$97.8B
DODGE & COX Long Only Manager	Dana Morton Emery CEO	$1.1B 0.60% of portfolio	4.16% 3.3M shares	Q3 2024 Held for 1y 3m	$185.33B
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	Edward Murray Maloney CEO	$1.1B 0.33% of portfolio	4.05% 3.2M shares	Q4 2022 Held for 3 years	$322.72B
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$1.0B 0.47% of portfolio	3.87% 3.1M shares	Q2 2017 Held for 8y 6m	$218.74B
C Capital World Investors Institution	-	$874.5M 0.12% of portfolio	3.29% 2.6M shares	Q2 2024 Held for 1y 6m	$730.00B
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC Long Only Manager	George Robert Aylward CEO	$825.9M 2.01% of portfolio	3.10% 2.5M shares	Q1 2021 Held for 4y 9m	$41.0B
LONE PINE CAPITAL LLC Hedge Fund•Long/Short	Kelly Ann Granat Managing Partner	$750.5M 5.46% of portfolio	2.82% 2.3M shares	Q2 2022 Held for 3y 6m	$13.7B
PRINCIPAL FINANCIAL GROUP INC Institution	Deanna Strable CEO	$655.4M 0.33% of portfolio	2.46% 2.0M shares	≤ Q2 2013 Held for 12y 6m+	$197.71B

Net Capital Flow

Institutional buying and selling activity for LPLA in Q3 2025

Traded: +$60.4M
Buyers: 358
Sellers: 360
Total Bought: +$3.3B
Total Sold: −$3.2B
Avg Position: $30.9M

Biggest Buyers

Institution	Net Bought	Current Position
C Capital World Investors Institution	+$869.0M +2.6M shares	$874.5M 2.6M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$321.3M +965.7K shares	$350.4M 1.1M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	+$266.2M +800.2K shares	$1.1B 3.2M shares
DODGE & COX Long Only Manager	+$208.8M +627.5K shares	$1.1B 3.3M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$127.9M +384.4K shares	$127.9M 384.4K shares
LONE PINE CAPITAL LLC Hedge Fund•Long/Short	+$127.6M +383.5K shares	$750.5M 2.3M shares
PRINCIPAL FINANCIAL GROUP INC Institution	+$124.1M +373.1K shares	$655.4M 2.0M shares
VANGUARD GROUP INC Institution	+$105.5M +317.0K shares	$2.8B 8.3M shares
R Railway Pension Investments Ltd Institution	+$88.8M +266.9K shares	$120.9M 363.4K shares
A APG All Pensions Group NV Institution	+$73.5M +259.7K shares	$217.3M 767.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
Winslow Capital Management, LLC Long Only Manager	−$443.6M −1.2M shares	Sold Off 0 shares
FMR LLC Institution	−$443.3M −1.3M shares	$373.3M 1.1M shares
Egerton Capital LLP Hedge Fund•Long/Short	−$312.2M −832.5K shares	Sold Off 0 shares
P Palestra Capital Management LLC Hedge Fund•Long/Short	−$142.5M −379.9K shares	Sold Off 0 shares
Artisan Partners Limited Partnership Long Only Manager	−$137.8M −367.4K shares	Sold Off 0 shares
JENNISON ASSOCIATES LLC Long Only Manager	−$99.1M −297.8K shares	$367.6M 1.1M shares
S SEI INVESTMENTS CO Institution	−$98.3M −295.6K shares	$41.2M 123.7K shares
S Southpoint Capital Advisors LP Hedge Fund•Long/Short	−$83.2M −250.0K shares	$38.3M 115.0K shares
A AGF MANAGEMENT LTD Institution	−$75.8M −227.7K shares	$178.7M 537.3K shares
JPMORGAN CHASE & CO Institution	−$73.7M −221.6K shares	$312.3M 938.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LPLA in Q3 2025

New Positions: 40
New Value: $19.1M
Exited Positions: 108
Exited Value: $1.4B

New Positions

Institution	Position Value
Empirical Financial Services, LLC RIA/Wealth	$4.6M 13.8K shares
S South Dakota Investment Council Institution	$2.4M 7.1K shares
Morningstar Investment Management LLC Long Only Manager	$2.2M 6.6K shares
K K2 PRINCIPAL FUND, L.P. Institution	$2.0M 6.1K shares
V Virtus Investment Advisers, Inc. Institution	$1.6M 4.8K shares
Retirement Planning Group RIA/Wealth	$605.5K 1.8K shares
S Strategic Financial Concepts, LLC RIA/Wealth	$575.9K 1.7K shares
Compton Financial Group, LLC RIA/Wealth	$575.9K 1.7K shares
Severin Investments, LLC RIA/Wealth	$502.4K 1.5K shares
Requisite Capital Management, LLC RIA/Wealth	$493.0K 1.5K shares

Exited Positions

Institution	Previous Position
Winslow Capital Management, LLC Long Only Manager	$443.6M 1.2M shares
Egerton Capital LLP Hedge Fund•Long/Short	$312.2M 832.5K shares
P Palestra Capital Management LLC Hedge Fund•Long/Short	$142.5M 379.9K shares
Artisan Partners Limited Partnership Long Only Manager	$137.8M 367.4K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$50.0M 133.3K shares
M MOORE CAPITAL MANAGEMENT, LP Hedge Fund•Global Macro	$37.7M 100.5K shares
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	$37.3M 99.5K shares
Z Zurich Insurance Group Ltd/FI Institution	$37.3M 99.5K shares
S Shellback Capital, LP Hedge Fund•Long/Short	$28.7M 76.5K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$20.1M 53.5K shares

Options Activity

Institutions with the largest Call and Put options positions in LPLA as of Q3 2025

Call Positions: 11
Call Value: $68.1M
Put Positions: 13
Put Value: $47.1M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$34.7M 1.0K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$10.1M 303.0 contracts
J JANE STREET GROUP, LLC Institution	$6.2M 187.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$6.2M 185.0 contracts
W WOLVERINE TRADING, LLC Institution	$3.4M 99.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$2.1M 64.0 contracts
D D. E. Shaw & Co., Inc. Institution	$1.9M 57.0 contracts
Walleye Trading LLC RIA/Wealth	$1.4M 43.0 contracts
C Cubist Systematic Strategies, LLC Institution	$1.0M 31.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$798.5K 24.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$21.7M 653.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$10.4M 314.0 contracts
W WOLVERINE TRADING, LLC Institution	$5.7M 168.0 contracts
Walleye Trading LLC RIA/Wealth	$2.8M 84.0 contracts
J JANE STREET GROUP, LLC Institution	$2.1M 63.0 contracts
C Cubist Systematic Strategies, LLC Institution	$1.1M 32.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.0M 31.0 contracts
MAI Wealth Advisors RIA/Wealth	$831.7K - contracts
D D. E. Shaw & Co., Inc. Institution	$632.1K 19.0 contracts
B BENJAMIN EDWARDS INC Institution	$499.0K 15.0 contracts

Most Committed Institutions

Institutions with LPLA as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
FAMILY WEALTH PARTNERS, LLC RIA/Wealth	Thomas Edward Dundorf Founder	13.17% $35.1M	0.13% 105.6K shares	Q4 2023 Held for 2 years	$266.8M
Teca Partners, LP Hedge Fund•Long/Short	Fernando Vigil CIO	10.17% $16.1M	0.06% 48.5K shares	Q3 2024 Held for 1y 3m	$158.5M
L LYNWOOD PRICE CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	Jimmy Lamont Price (Iii) CIO	9.83% $19.6M	0.07% 59.0K shares	Q4 2024 Held for 1 year	$199.6M
SurgoCap Partners LP Hedge Fund•Long/Short	Mala Gopal Gaonkar CIO	9.39% $330.8M	1.24% 994.3K shares	Q4 2023 Held for 2 years	$3.5B
DARLINGTON PARTNERS CAPITAL MANAGEMENT, LP Hedge Fund•Value	Mina Fahmy Iskander CFO	8.82% $261.4M	0.98% 785.7K shares	Q4 2021 Held for 4 years	$3.0B
FAIRVIEW CAPITAL INVESTMENT MANAGEMENT RIA/Wealth	Maria-Elena Morelli Roner Member	7.39% $145.7M	0.55% 437.9K shares	≤ Q2 2013 Held for 12y 6m+	$2.0B
SAMLYN CAPITAL, LLC Hedge Fund•Multi-Strategy	Aaron Foxbruner CFO	6.36% $448.0M	1.68% 1.3M shares	Q1 2017 Held for 8y 9m	$7.0B
L LTS One Management LP Institution	-	5.93% $16.6M	0.06% 50.0K shares	Q1 2025 Held for 9 months	$280.7M
S Solel Partners LP Hedge Fund•Long/Short	William Cronin Stone CFO	5.57% $28.9M	0.11% 87.0K shares	Q4 2024 Held for 1 year	$519.8M
LONE PINE CAPITAL LLC Hedge Fund•Long/Short	Kelly Ann Granat Managing Partner	5.46% $750.5M	2.82% 2.3M shares	Q2 2022 Held for 3y 6m	$13.7B

Hedge Fund Spotlight

Discover hedge funds investing in LPLA

SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC

Hedge Fund • Distressed

Portfolio ManagerLaurence L. Gottlieb

Portfolio Value: $2.6B
Positions: 549
Last Reported: Q3 2025

Sector Allocation

Position in LPL Financial Holdings

Market Value: $16.9M
Shares Held: 50.7K
Portfolio Weight: 0.66%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Newmont NEM	Gold Basic Materials	$78.8M	3.08%
2 General Dynamics GD	Aerospace & Defense Industrials	$58.3M	2.28%
3 Honeywell International HON	Conglomerates Industrials	$51.1M	2.00%