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 | |
|---|---|---|---|---|---|---|
2901
Sportradar
SRAD
$4.3B
| $2.53M | ﹤0.01% |
90,224
+43,256
| +92% | +$1.03M |
|
2902
United Bankshares
UBSI
$6.63B
| $2.53M | ﹤0.01% |
69,534
+1,102
| +2% | +$38.7K |
|
2903
RH
RH
$3.13B
| $2.53M | ﹤0.01% |
13,402
+5,006
| +60% | +$930K |
|
2904
Axsome Therapeutics
AXSM
$11.2B
| $2.53M | ﹤0.01% |
24,246
+1,112
| +5% | +$118K |
|
2905
Limbach Holdings
LMB
$855M
| $2.53M | ﹤0.01% |
18,062
+4,072
| +29% | +$462K |
|
2906
Transocean
RIG
$5.89B
| $2.53M | ﹤0.01% |
976,672
-65,281
| -6% | -$168K |
|
2907
NYLI Hedge Multi-Strategy Tracker ETF
QAI
$1.01B
| $2.53M | ﹤0.01% |
78,182
+10,305
| +15% | +$325K |
|
2908
Northern Oil and Gas
NOG
$2.3B
| $2.53M | ﹤0.01% |
89,126
+10,980
| +14% | +$295K |
|
2909
Organon & Co
OGN
$3.56B
| $2.52M | ﹤0.01% |
260,842
-66,451
| -20% | -$685K |
|
|
MYD
2910
DELISTED
BlackRock MuniYield Fund
MYD
| $2.52M | ﹤0.01% |
251,306
-12,851
| -5% | -$130K |
|
|
CPZ
2911
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$259M
| $2.52M | ﹤0.01% |
155,431
+41,685
| +37% | +$650K |
|
2912
PennantPark Floating Rate Capital
PFLT
$689M
| $2.52M | ﹤0.01% |
244,157
-194,809
| -44% | -$1.97M |
|
|
NCZ
2913
Virtus Convertible & Income Fund II
NCZ
$294M
| $2.52M | ﹤0.01% |
196,083
+23,625
| +14% | +$280K |
|
2914
Copa Holdings
CPA
$5.76B
| $2.52M | ﹤0.01% |
22,882
+17,156
| +300% | +$1.69M |
|
|
MPT
2915
Medical Properties Trust
MPT
$2.77B
| $2.51M | ﹤0.01% |
583,232
+3,321
| +0.6% | +$16.4K |
|
2916
iShares ESG MSCI USA Leaders ETF
SUSL
$1.14B
| $2.51M | ﹤0.01% |
23,200
+1,184
| +5% | +$118K |
|
2917
Global X MSCI SuperDividend Emerging Markets ETF
SDEM
$44.9M
| $2.51M | ﹤0.01% |
91,681
+8,842
| +11% | +$232K |
|
2918
First Industrial Realty Trust
FR
$8.73B
| $2.51M | ﹤0.01% |
52,058
+2,596
| +5% | +$127K |
|
2919
State Street Income Allocation ETF
INKM
$72M
| $2.5M | ﹤0.01% |
77,465
-31,122
| -29% | -$992K |
|
2920
Nuveen California Municipal Value Fund
NCA
$297M
| $2.5M | ﹤0.01% |
288,325
-5,799
| -2% | -$49.1K |
|
|
BFZ
2921
DELISTED
BlackRock CA Municipal Income Trust
BFZ
| $2.49M | ﹤0.01% |
230,540
+2,138
| +0.9% | +$23K |
|
2922
Pacer Industrial Real Estate ETF
INDS
$118M
| $2.49M | ﹤0.01% |
67,268
-8,098
| -11% | -$292K |
|
2923
Novanta
NOVT
$5.08B
| $2.48M | ﹤0.01% |
19,265
+353
| +2% | +$43K |
|
2924
PUT
Berkshire Hathaway Class B
BRK.B
$1.1T
| $2.48M | ﹤0.01% |
5,100
+1,800
| +55% | +$914K |
|
2925
WD-40
WDFC
$3.05B
| $2.48M | ﹤0.01% |
10,855
+465
| +4% | +$109K |
|
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.