VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

LPL Financial Holdings Inc. vs PDD Holdings Inc.

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

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

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$161.7B
SectorConsumer
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform); PDD Holdings Inc. has 2 segments.
  • Moat breadth: LPL Financial Holdings Inc. has 6 moat types across 4 domains; PDD Holdings Inc. has 4 across 4.

Primary market context

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%

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

Side-by-side metrics

LPL Financial Holdings Inc.
PDD Holdings Inc.
Ticker / Exchange
LPLA - Nasdaq
PDD - NASDAQ
Market cap (USD)
$29.9B
$161.7B
Sector
Financials
Consumer
HQ country
US
KY
Primary segment
Advisor Platform
Pinduoduo China marketplace
Market structure
Oligopoly
Oligopoly
Market share
23%-25% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
79 / 100
44 / 100
Moat domains
Supply, Demand, Legal, Network
Network, Supply, Financial, Legal
Last update
2025-12-26
2025-12-29

Moat coverage

Shared moat types

Scale Economies Unit CostCompliance AdvantageTwo Sided Network

LPL Financial Holdings Inc. strengths

Suite BundlingOperational ExcellenceSwitching Costs General

PDD Holdings Inc. strengths

Float Prepayment

Segment mix

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

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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.