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 | |
|---|---|---|---|---|---|---|
401
First Trust NASDAQ-100 Technology Index Fund
QTEC
$4.41B
| $125M | 0.04% |
588,116
+60,746
| +12% | +$11.4M |
|
402
Invesco Large Cap Growth ETF
PWB
$2.24B
| $125M | 0.04% |
1,064,889
+180,420
| +20% | +$18.9M |
|
|
GRID
403
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
GRID
$11.1B
| $124M | 0.04% |
895,102
+122,194
| +16% | +$15.2M |
|
404
Micron Technology
MU
$927B
| $124M | 0.04% |
1,009,080
+82,941
| +9% | +$7.75M |
|
405
Analog Devices
ADI
$178B
| $124M | 0.04% |
519,699
-8,373
| -2% | -$1.74M |
|
|
FISV
406
Fiserv Inc
FISV
$28.9B
| $123M | 0.04% |
716,280
+126,862
| +22% | +$23M |
|
407
iShares Ultra Short Duration Bond Active ETF
ICSH
$8.06B
| $123M | 0.04% |
2,429,384
+402,676
| +20% | +$20.4M |
|
408
Schwab International Equity ETF
SCHF
$65.5B
| $123M | 0.04% |
5,560,420
+620,121
| +13% | +$12.9M |
|
409
T-Mobile US
TMUS
$196B
| $123M | 0.04% |
514,960
+21,956
| +4% | +$5.36M |
|
410
Arista Networks
ANET
$214B
| $122M | 0.04% |
1,189,668
+6,542
| +0.6% | +$566K |
|
411
US Bancorp
USB
$100B
| $122M | 0.04% |
2,686,873
+132,304
| +5% | +$5.56M |
|
412
Medtronic
MDT
$111B
| $121M | 0.04% |
1,391,849
+110,900
| +9% | +$9.4M |
|
413
Innovator Equity Managed Floor ETF
SFLR
$2.1B
| $121M | 0.04% |
3,592,857
-165,047
| -4% | -$5.27M |
|
414
Global X Defense Tech ETF
SHLD
$7.13B
| $120M | 0.04% |
1,995,676
+832,860
| +72% | +$44.8M |
|
415
Republic Services
RSG
$66.6B
| $120M | 0.04% |
487,311
+31,572
| +7% | +$7.8M |
|
416
JPMorgan Global Select Equity ETF
JGLO
$6.8B
| $120M | 0.04% |
1,866,238
+97,331
| +6% | +$5.83M |
|
417
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
$4.88B
| $120M | 0.04% |
4,698,364
+85,754
| +2% | +$2.14M |
|
418
Invesco S&P 100 Equal Weight ETF
EQWL
$2.72B
| $120M | 0.04% |
1,087,139
+169,336
| +18% | +$17.5M |
|
419
Oneok
OKE
$55.9B
| $118M | 0.04% |
1,451,322
+83,911
| +6% | +$7M |
|
420
Kinder Morgan
KMI
$70.3B
| $118M | 0.04% |
4,017,873
+155,884
| +4% | +$4.28M |
|
421
Invesco S&P 500 High Dividend Low Volatility ETF
SPHD
$3.42B
| $118M | 0.04% |
2,477,313
-302,289
| -11% | -$14.3M |
|
422
Cummins
CMI
$88.5B
| $118M | 0.04% |
358,866
+7,086
| +2% | +$2.19M |
|
423
iShares S&P Small-Cap 600 Growth ETF
IJT
$8.27B
| $117M | 0.04% |
882,693
-6,650
| -0.7% | -$833K |
|
424
Invesco S&P SmallCap 600 Revenue ETF
RWJ
$2.09B
| $117M | 0.04% |
2,706,243
-458,630
| -14% | -$18.5M |
|
425
JPMorgan Small & Mid Cap Enhanced Equity ETF
JMEE
$2.87B
| $117M | 0.04% |
1,976,433
+227,132
| +13% | +$12.7M |
|
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.