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 | |
|---|---|---|---|---|---|---|
251
iShares Floating Rate Bond ETF
FLOT
$10.2B
| $235M | 0.08% |
4,605,228
+340,079
| +8% | +$17.3M |
|
252
First Trust NASDAQ Technology Dividend Index Fund
TDIV
$4.11B
| $235M | 0.08% |
2,602,998
+236,385
| +10% | +$18.5M |
|
253
Duke Energy
DUK
$101B
| $233M | 0.08% |
1,974,303
+169,444
| +9% | +$20M |
|
254
PIMCO Multi Sector Bond Active ETF
PYLD
$15.1B
| $232M | 0.08% |
8,737,325
+2,938,191
| +51% | +$76.6M |
|
255
Vanguard Large-Cap ETF
VV
$52B
| $230M | 0.08% |
806,765
+6,904
| +0.9% | +$1.82M |
|
256
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.4B
| $227M | 0.08% |
7,522,959
+478,138
| +7% | +$14.3M |
|
257
Invesco Aerospace & Defense ETF
PPA
$8.39B
| $227M | 0.08% |
1,602,469
+149,910
| +10% | +$19M |
|
258
Southern Company
SO
$109B
| $227M | 0.08% |
2,469,887
+117,985
| +5% | +$10.6M |
|
259
iShares Select Dividend ETF
DVY
$24.1B
| $225M | 0.08% |
1,697,751
+84,550
| +5% | +$10.9M |
|
260
Avantis US Equity ETF
AVUS
$13.9B
| $225M | 0.08% |
2,230,883
+81,199
| +4% | +$7.6M |
|
261
Starbucks
SBUX
$118B
| $224M | 0.07% |
2,440,646
+195,802
| +9% | +$17M |
|
262
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
| $223M | 0.07% |
1,874,374
-19,165
| -1% | -$2.26M |
|
263
Goldman Sachs Access US Aggregate Bond ETF
GCOR
$794M
| $223M | 0.07% |
5,385,721
+2,230,976
| +71% | +$91.1M |
|
264
JPMorgan Equity Premium Income ETF
JEPI
$45.9B
| $223M | 0.07% |
3,914,423
+1,409,866
| +56% | +$78.1M |
|
|
BAI
265
iShares A.I. Innovation and Tech Active ETF
BAI
$12.1B
| $219M | 0.07% |
7,593,595
+7,293,899
| +2,434% | +$179M |
|
266
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$15B
| $216M | 0.07% |
2,333,941
+87,509
| +4% | +$7.88M |
|
267
FT Vest Fund of Deep Buffer ETFs
BUFD
$1.94B
| $214M | 0.07% |
8,066,365
+219,498
| +3% | +$5.55M |
|
268
Lowe's Companies
LOW
$122B
| $214M | 0.07% |
964,807
+12,344
| +1% | +$2.75M |
|
|
LRGG
269
Nomura Focused Large Growth ETF
LRGG
$309M
| $213M | 0.07% |
7,416,620
+4,198,025
| +130% | +$112M |
|
270
Vanguard Mid-Cap Growth ETF
VOT
$19.1B
| $211M | 0.07% |
743,504
+69,347
| +10% | +$17.9M |
|
271
Deere & Co
DE
$173B
| $211M | 0.07% |
415,037
+40,011
| +11% | +$19.6M |
|
272
Accenture
ACN
$101B
| $209M | 0.07% |
700,133
+42,729
| +6% | +$13M |
|
273
Altria Group
MO
$125B
| $208M | 0.07% |
3,544,314
+47,449
| +1% | +$2.79M |
|
274
Blackrock
BLK
$170B
| $207M | 0.07% |
196,921
+3,957
| +2% | +$3.74M |
|
|
275
iShares Currency Hedged MSCI EAFE ETF
HEFA
$7.51B
| $205M | 0.07% |
5,411,518
-2,556,417
| -32% | -$93.5M |
|
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.