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 | |
|---|---|---|---|---|---|---|
|
CRCL
2601
Circle Internet Group
CRCL
$15.6B
| $3.51M | ﹤0.01% |
+19,363
| New | +$3.15M |
|
2602
Icon
ICLR
$12.6B
| $3.51M | ﹤0.01% |
24,101
-70,010
| -74% | -$9.93M |
|
2603
Crown Holdings
CCK
$12.8B
| $3.5M | ﹤0.01% |
33,984
+2,011
| +6% | +$192K |
|
2604
iShares 25+ Year Treasury STRIPS Bond ETF
GOVZ
$256M
| $3.5M | ﹤0.01% |
91,090
+25,954
| +40% | +$986K |
|
2605
StoneX
SNEX
$9.26B
| $3.5M | ﹤0.01% |
86,288
+1,290
| +2% | +$48.5K |
|
|
JHG
2606
DELISTED
Janus Henderson
JHG
| $3.49M | ﹤0.01% |
89,855
-93,189
| -51% | -$3.28M |
|
2607
Takeda Pharmaceutical
TAK
$54.6B
| $3.49M | ﹤0.01% |
225,438
+24,005
| +12% | +$355K |
|
|
WCC
2608
WESCO International
WCC
$16.7B
| $3.48M | ﹤0.01% |
18,814
+767
| +4% | +$126K |
|
2609
USCF Midstream Energy Income Fund
UMI
$509M
| $3.48M | ﹤0.01% |
68,166
+4,827
| +8% | +$239K |
|
2610
H&R Block
HRB
$5.58B
| $3.48M | ﹤0.01% |
63,358
-43,832
| -41% | -$2.53M |
|
2611
Clearway Energy Class C
CWEN
$4.94B
| $3.47M | ﹤0.01% |
108,565
-6,749
| -6% | -$202K |
|
2612
Pembina Pipeline
PBA
$28.4B
| $3.47M | ﹤0.01% |
92,581
+7,269
| +9% | +$274K |
|
2613
Sonoco
SON
$5.57B
| $3.47M | ﹤0.01% |
79,640
+12,539
| +19% | +$561K |
|
2614
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.22B
| $3.47M | ﹤0.01% |
92,203
-74
| -0.1% | -$2.66K |
|
2615
iShares ESG Advanced High Yield Corporate Bond ETF
HYXF
$192M
| $3.46M | ﹤0.01% |
72,773
+26,816
| +58% | +$1.24M |
|
2616
Eaton Vance Short Duration Municipal Income ETF
EVSM
$775M
| $3.46M | ﹤0.01% |
+69,120
| New | +$3.44M |
|
|
MYCF
2617
State Street My2026 Corporate Bond ETF
MYCF
$47.7M
| $3.44M | ﹤0.01% |
+137,294
| New | +$3.43M |
|
2618
iShares MSCI Brazil Small-Cap ETF
EWZS
$234M
| $3.44M | ﹤0.01% |
+259,267
| New | +$3.14M |
|
2619
Palomar
PLMR
$3.55B
| $3.43M | ﹤0.01% |
22,252
+17,612
| +380% | +$2.73M |
|
2620
Innovator US Equity Buffer ETF October
BOCT
$286M
| $3.43M | ﹤0.01% |
75,489
+16,957
| +29% | +$725K |
|
2621
Invesco S&P 500 Downside Hedged ETF
PHDG
$73.7M
| $3.43M | ﹤0.01% |
97,205
-12,191
| -11% | -$418K |
|
2622
UMB Financial
UMBF
$11.1B
| $3.43M | ﹤0.01% |
32,609
+7,505
| +30% | +$748K |
|
2623
Atlantic Union Bankshares
AUB
$6.02B
| $3.42M | ﹤0.01% |
109,352
+17,338
| +19% | +$500K |
|
2624
VanEck Biotech ETF
BBH
$400M
| $3.42M | ﹤0.01% |
22,295
-1,880
| -8% | -$280K |
|
2625
State Street SPDR S&P Transportation ETF
XTN
$387M
| $3.41M | ﹤0.01% |
42,386
-5,380
| -11% | -$398K |
|
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.