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 | |
|---|---|---|---|---|---|---|
|
DX
3376
Dynex Capital
DX
$3.15B
| $1.53M | ﹤0.01% |
124,840
+34,494
| +38% | +$419K |
|
3377
Prosperity Bancshares
PB
$8.97B
| $1.52M | ﹤0.01% |
21,652
-471
| -2% | -$32.4K |
|
3378
Macy's
M
$6.53B
| $1.52M | ﹤0.01% |
130,247
+62,733
| +93% | +$727K |
|
3379
Triumph Financial Inc
TFIN
$1.81B
| $1.52M | ﹤0.01% |
27,497
+19,596
| +248% | +$1.09M |
|
3380
BlackRock Utilities, Infrastructure & Power Opportunities Trust
BUI
$725M
| $1.52M | ﹤0.01% |
58,845
-5
| -0% | -$118 |
|
3381
Humacyte
HUMA
$176M
| $1.51M | ﹤0.01% |
724,800
+90,818
| +14% | +$174K |
|
3382
First Interstate BancSystem
FIBK
$3.69B
| $1.51M | ﹤0.01% |
52,521
+18,167
| +53% | +$490K |
|
3383
Terex
TEX
$7.18B
| $1.51M | ﹤0.01% |
32,401
+1,234
| +4% | +$51.6K |
|
3384
BlackRock MuniHoldings Fund
MHD
$598M
| $1.51M | ﹤0.01% |
134,784
+858
| +0.6% | +$9.63K |
|
3385
Unity
U
$13.8B
| $1.51M | ﹤0.01% |
62,289
-2,401
| -4% | -$52.8K |
|
3386
Innovator US Equity Buffer ETF March
BMAR
$251M
| $1.51M | ﹤0.01% |
30,728
+4,418
| +17% | +$204K |
|
3387
Nuveen Real Estate Income Fund
JRS
$249M
| $1.51M | ﹤0.01% |
193,560
-5,760
| -3% | -$44.8K |
|
3388
Pacer US Export Leaders ETF
PEXL
$50.8M
| $1.5M | ﹤0.01% |
28,935
-33,927
| -54% | -$1.59M |
|
3389
WIX.com
WIX
$2.3B
| $1.5M | ﹤0.01% |
9,477
+952
| +11% | +$153K |
|
3390
Grab
GRAB
$14.3B
| $1.49M | ﹤0.01% |
296,285
+17,363
| +6% | +$81K |
|
3391
Inspire Medical Systems
INSP
$1.45B
| $1.49M | ﹤0.01% |
11,477
+1,351
| +13% | +$196K |
|
3392
Middlesex Water
MSEX
$1.08B
| $1.49M | ﹤0.01% |
27,442
+435
| +2% | +$25.8K |
|
3393
Fidelity Corporate Bond ETF
FCOR
$351M
| $1.48M | ﹤0.01% |
31,350
+6,894
| +28% | +$321K |
|
|
GNT
3394
GAMCO Natural Resources, Gold & Income Trust
GNT
$135M
| $1.48M | ﹤0.01% |
235,484
+30,427
| +15% | +$186K |
|
3395
Epsilon Energy
EPSN
$169M
| $1.48M | ﹤0.01% |
200,290
+18,605
| +10% | +$133K |
|
|
BKCG
3396
BNY Mellon Concentrated Growth ETF
BKCG
$121M
| $1.48M | ﹤0.01% |
42,702
-4,542
| -10% | -$144K |
|
3397
Horace Mann Educators
HMN
$2.1B
| $1.48M | ﹤0.01% |
34,374
+1,682
| +5% | +$70.8K |
|
3398
Western Union
WU
$1.98B
| $1.48M | ﹤0.01% |
175,396
+52,854
| +43% | +$502K |
|
3399
Red Cat Holdings
RCAT
$1.15B
| $1.47M | ﹤0.01% |
202,565
+136,013
| +204% | +$888K |
|
|
CPSA
3400
Calamos S&P 500 Structured Alt Protection ETF - August
CPSA
$41.9M
| $1.47M | ﹤0.01% |
56,749
| – | – |
|
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.