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 |
Capital Group Dividend Value ETF
CGDV
|
+$486M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$472M |
| 3 |
iShares MSCI EAFE Value ETF
EFV
|
+$468M |
| 4 |
THRO
iShares U.S. Thematic Rotation Active ETF
THRO
|
+$457M |
| 5 |
iShares Core International Aggregate Bond Fund
IAGG
|
+$358M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$728M |
| 2 |
iShares MSCI Emerging Markets ex China ETF
EMXC
|
+$336M |
| 3 |
iShares Currency Hedged MSCI EAFE ETF
HEFA
|
+$93.5M |
| 4 |
Invesco Preferred ETF
PGX
|
+$91.8M |
| 5 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$82.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 8.48% |
| 2 | Financials | 3.73% |
| 3 | Consumer Discretionary | 2.77% |
| 4 | Communication Services | 2.41% |
| 5 | Industrials | 2.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2476
WisdomTree International Multifactor Fund
DWMF
$33.8M
| $4.11M | ﹤0.01% |
130,703
-24,591
| -16% | -$753K |
|
|
AIV
2477
Aimco
AIV
$387M
| $4.1M | ﹤0.01% |
474,042
+150,271
| +46% | +$1.22M |
|
2478
Tortoise North American Pipeline ETF
TPYP
$875M
| $4.09M | ﹤0.01% |
114,589
+13,792
| +14% | +$484K |
|
2479
First Trust Multi Cap Value AlphaDEX Fund
FAB
$163M
| $4.09M | ﹤0.01% |
50,296
-88
| -0.2% | -$6.82K |
|
|
PKST
2480
DELISTED
Peakstone Realty Trust
PKST
| $4.08M | ﹤0.01% |
308,646
+5,797
| +2% | +$71.2K |
|
2481
Pacer Trendpilot Fund of Funds ETF
TRND
$61.9M
| $4.07M | ﹤0.01% |
127,535
+25,622
| +25% | +$797K |
|
2482
Brown-Forman Class B
BF.B
$13.2B
| $4.07M | ﹤0.01% |
151,094
+27,602
| +22% | +$886K |
|
2483
Global X Nasdaq 100 Covered Call & Growth ETF
QYLG
$156M
| $4.07M | ﹤0.01% |
146,020
+15,534
| +12% | +$406K |
|
2484
BlackRock Capital Allocation Term Trust
BCAT
$1.65B
| $4.06M | ﹤0.01% |
268,418
+78,762
| +42% | +$1.15M |
|
2485
Global Net Lease
GNL
$1.84B
| $4.06M | ﹤0.01% |
538,225
+264,829
| +97% | +$2.01M |
|
2486
iShares iBonds Dec 2030 Term Treasury ETF
IBTK
$947M
| $4.04M | ﹤0.01% |
203,772
-41,236
| -17% | -$809K |
|
2487
Joby Aviation
JOBY
$7.03B
| $4.04M | ﹤0.01% |
382,822
+128,897
| +51% | +$933K |
|
2488
FlexShares US Quality Large Cap Index Fund
QLC
$1B
| $4.03M | ﹤0.01% |
56,639
-775
| -1% | -$50.7K |
|
2489
Ducommun
DCO
$2.7B
| $4.03M | ﹤0.01% |
48,742
-38,320
| -44% | -$2.55M |
|
2490
CALL
Invesco QQQ Trust
QQQ
$453B
| $4.03M | ﹤0.01% |
7,300
+2,500
| +52% | +$1.24M |
|
2491
Invesco Pharmaceuticals ETF
PJP
$442M
| $4.02M | ﹤0.01% |
50,382
+1,243
| +3% | +$99.2K |
|
|
QSIG
2492
WisdomTree U.S. Short Term Corporate Bond Fund
QSIG
$52.9M
| $4.01M | ﹤0.01% |
82,285
-15,180
| -16% | -$736K |
|
2493
Renasant Corp
RNST
$3.98B
| $4.01M | ﹤0.01% |
111,707
-2,952
| -3% | -$98.4K |
|
2494
Xtrackers Short Duration High Yield Bond ETF
SHYL
$267M
| $4.01M | ﹤0.01% |
88,552
+12,409
| +16% | +$551K |
|
2495
Bloom Energy
BE
$60.6B
| $4M | ﹤0.01% |
167,269
+45,958
| +38% | +$890K |
|
2496
State Street SPDR S&P Health Care Equipment ETF
XHE
$161M
| $4M | ﹤0.01% |
49,210
-7,347
| -13% | -$586K |
|
2497
Gen Digital
GEN
$16.4B
| $3.99M | ﹤0.01% |
135,866
-7,284
| -5% | -$199K |
|
2498
Vericel Corp
VCEL
$2.35B
| $3.99M | ﹤0.01% |
93,845
+22,990
| +32% | +$956K |
|
2499
Parsons
PSN
$4.72B
| $3.98M | ﹤0.01% |
55,475
+7,925
| +17% | +$523K |
|
2500
VictoryShares US Multi-Factor Minimum Volatility ETF
VSMV
$155M
| $3.98M | ﹤0.01% |
80,756
-8,947
| -10% | -$430K |
|
Similar funds
LPL Financial's Q2 2025 Portfolio in Review
As of Q2 2025, LPL Financial held 5,729 positions worth $300B, up 17% from $257B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $20.8B of net new capital in Q2 2025, opening 391 new positions and adding to 3,438 existing holdings. Its largest new stake was JPMorgan Mortgage-Backed Securities ETF: 4,689,747 shares worth $235M.
By sector, the portfolio is most concentrated in Technology at 8.5% of assets, up from 7.4% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was iShares Core S&P 500 ETF, an estimated $728M trimmed.
- LPL Financial's largest Q2 2025 buy was JPMorgan Mortgage-Backed Securities ETF: 4,689,747 shares worth $235M.
- LPL Financial added most to Capital Group Dividend Value ETF in Q2 2025, an estimated $486M increase.
- LPL Financial's biggest Q2 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $728M.
- LPL Financial fully exited Discover Financial Services in Q2 2025, selling an estimated $31.5M.
- LPL Financial's ten largest holdings make up 15% of its $300B portfolio in Q2 2025.
- LPL Financial opened 391 new positions and closed 181 in Q2 2025.
- LPL Financial's portfolio value rose 17% quarter-over-quarter to $300B.
Based on LPL Financial's 13F filing for Q2 2025, filed 12 Aug 2025.