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 | |
|---|---|---|---|---|---|---|
2626
Akamai
AKAM
$16.7B
| $3.4M | ﹤0.01% |
42,633
-6,149
| -13% | -$478K |
|
2627
GameStop
GME
$9.75B
| $3.38M | ﹤0.01% |
138,774
+18,370
| +15% | +$492K |
|
|
BWIN
2628
Baldwin Insurance Group
BWIN
$2.69B
| $3.38M | ﹤0.01% |
78,908
+5,279
| +7% | +$214K |
|
2629
Crane NXT
CXT
$2.99B
| $3.37M | ﹤0.01% |
62,580
+1,969
| +3% | +$100K |
|
2630
Avantis Core Municipal Fixed Income ETF
AVMU
$173M
| $3.37M | ﹤0.01% |
75,355
-11,161
| -13% | -$497K |
|
|
EXAS
2631
DELISTED
Exact Sciences
EXAS
| $3.37M | ﹤0.01% |
63,460
+1,090
| +2% | +$55.4K |
|
2632
First Trust Dow Jones International Internet ETF
FDNI
$31.9M
| $3.37M | ﹤0.01% |
100,172
-38,464
| -28% | -$1.21M |
|
|
FUND
2633
Sprott Focus Trust
FUND
$297M
| $3.37M | ﹤0.01% |
450,463
+16,710
| +4% | +$120K |
|
2634
AllianzIM U.S. Equity Buffer20 Jul ETF
JULW
$248M
| $3.36M | ﹤0.01% |
90,519
+25,919
| +40% | +$910K |
|
2635
Teva Pharmaceuticals
TEVA
$40.8B
| $3.36M | ﹤0.01% |
200,620
-12,660
| -6% | -$204K |
|
2636
Shake Shack
SHAK
$2.53B
| $3.36M | ﹤0.01% |
23,886
+4,000
| +20% | +$436K |
|
2637
Alpha Architect US Quantitative Value ETF
QVAL
$584M
| $3.36M | ﹤0.01% |
76,287
+2,243
| +3% | +$95.3K |
|
|
MPV
2638
Barings Participation Investors
MPV
$175M
| $3.36M | ﹤0.01% |
166,947
+18,999
| +13% | +$334K |
|
2639
CBIZ
CBZ
$2.99B
| $3.35M | ﹤0.01% |
46,742
+8,561
| +22% | +$619K |
|
2640
Goldman Sachs JUST US Large Cap Equity ETF
JUST
$561M
| $3.35M | ﹤0.01% |
38,092
+28,471
| +296% | +$2.31M |
|
2641
FT Vest US Equity Moderate Buffer ETF April
GAPR
$291M
| $3.35M | ﹤0.01% |
87,362
+25,547
| +41% | +$948K |
|
2642
Invesco Dorsey Wright Healthcare Momentum ETF
PTH
$221M
| $3.34M | ﹤0.01% |
86,031
+3,917
| +5% | +$148K |
|
2643
Equity Lifestyle Properties
ELS
$12.6B
| $3.34M | ﹤0.01% |
54,171
+4,989
| +10% | +$318K |
|
|
RFI
2644
Cohen & Steers Total Return Realty Fund
RFI
$308M
| $3.33M | ﹤0.01% |
276,394
+4,113
| +2% | +$48.6K |
|
|
MFA
2645
MFA Financial
MFA
$926M
| $3.33M | ﹤0.01% |
351,659
+53,786
| +18% | +$508K |
|
2646
Progress Software
PRGS
$1.66B
| $3.32M | ﹤0.01% |
52,014
+3,902
| +8% | +$237K |
|
2647
HCM Defender 500 Index ETF
LGH
$575M
| $3.32M | ﹤0.01% |
60,969
-1,848
| -3% | -$91.3K |
|
|
BGB
2648
Blackstone Strategic Credit 2027 Term Fund
BGB
$499M
| $3.31M | ﹤0.01% |
273,512
+25,282
| +10% | +$299K |
|
|
ETO
2649
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund
ETO
$507M
| $3.31M | ﹤0.01% |
121,887
+3,304
| +3% | +$83K |
|
2650
FNB Corp
FNB
$6.73B
| $3.31M | ﹤0.01% |
227,071
+2,900
| +1% | +$39.2K |
|
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.