VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

American Tower Corporation vs LPL Financial Holdings Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

American Tower Corporation

AMT · New York Stock Exchange

Market cap (USD)
SectorReal Estate
CountryUS
Data as of2025-12-31
Moat score
76/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into American Tower Corporation's moat claims, evidence, and risks.

View AMT analysis

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.9B
SectorFinancials
CountryUS
Data as of2025-12-26
Moat score
79/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 76 / 100 for American Tower Corporation).
  • Segment focus: American Tower Corporation has 3 segments; LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform).
  • Moat breadth: American Tower Corporation has 6 moat types across 4 domains; LPL Financial Holdings Inc. has 6 across 4.

Primary market context

American Tower Corporation

U.S. & Canada Communications Sites

Market

Wireless communications site leasing (macro towers, rooftops and DAS)

Geography

United States and Canada

Customer

Wireless carriers and other tenants (broadcast, data, government/municipal)

Role

Independent owner/operator of communications real estate (towerco)

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Side-by-side metrics

American Tower Corporation
LPL Financial Holdings Inc.
Ticker / Exchange
AMT - New York Stock Exchange
LPLA - Nasdaq
Market cap (USD)
n/a
$29.9B
Sector
Real Estate
Financials
HQ country
US
US
Primary segment
U.S. & Canada Communications Sites
Advisor Platform
Market structure
Oligopoly
Oligopoly
Market share
n/a
23%-25% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
79 / 100
Moat domains
Demand, Legal, Supply, Network
Supply, Demand, Legal, Network
Last update
2025-12-31
2025-12-26

Moat coverage

Shared moat types

Switching Costs General

American Tower Corporation strengths

Long Term ContractsPermits Rights Of WayPhysical Network DensityInteroperability HubCapacity Moat

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceCompliance AdvantageTwo Sided Network

Segment mix

American Tower Corporation segments

Full profile >

U.S. & Canada Communications Sites

Oligopoly

n/a

International Communications Sites

Oligopoly

n/a

Data Centers

Competitive

n/a

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.