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 | |
|---|---|---|---|---|---|---|
501
First Trust Senior Loan Fund ETF
FTSL
$2.32B
| $94.1M | 0.03% |
2,051,310
+74,906
| +4% | +$3.42M |
|
|
HIMU
502
iShares High Yield Muni Active ETF
HIMU
$2.39B
| $93.6M | 0.03% |
1,925,282
+196,044
| +11% | +$9.45M |
|
503
VanEck Fallen Angel High Yield Bond ETF
ANGL
$3.08B
| $93.5M | 0.03% |
3,192,150
-549,924
| -15% | -$15.6M |
|
504
iShares S&P Small-Cap 600 Value ETF
IJS
$8.2B
| $92.5M | 0.03% |
929,734
+64,617
| +7% | +$6.1M |
|
505
Quanta Services
PWR
$88.3B
| $92.5M | 0.03% |
244,652
+6,056
| +3% | +$1.94M |
|
506
Vanguard Long-Term Treasury ETF
VGLT
$10.2B
| $92.3M | 0.03% |
1,644,723
+78,966
| +5% | +$4.38M |
|
507
WEC Energy
WEC
$37B
| $92.1M | 0.03% |
883,663
+33,005
| +4% | +$3.51M |
|
508
Synopsys
SNPS
$73.5B
| $91.9M | 0.03% |
179,286
+2,658
| +2% | +$1.24M |
|
509
NEOS S&P 500 High Income ETF
SPYI
$10.7B
| $91.7M | 0.03% |
1,821,981
+531,503
| +41% | +$25.6M |
|
510
iShares Investment Grade Systematic Bond ETF
IGEB
$1.45B
| $91.6M | 0.03% |
2,016,169
+601,374
| +43% | +$26.8M |
|
511
Booking.com
BKNG
$154B
| $91.4M | 0.03% |
394,675
+34,875
| +10% | +$7.14M |
|
512
Amphenol
APH
$177B
| $91.3M | 0.03% |
924,954
+134,114
| +17% | +$11M |
|
513
Eaton Vance Total Return Bond ETF
EVTR
$5.66B
| $91.1M | 0.03% |
1,791,885
+282,101
| +19% | +$14.2M |
|
|
AXON
514
Axon Enterprise
AXON
$44.1B
| $90.6M | 0.03% |
109,384
+14,714
| +16% | +$10M |
|
515
Fidelity Enhanced Mid Cap Core ETF
FMDE
$7.74B
| $89.7M | 0.03% |
2,605,653
+1,523,325
| +141% | +$49M |
|
516
Dimensional International Core Equity 2 ETF
DFIC
$14.6B
| $89.2M | 0.03% |
2,869,211
+97,524
| +4% | +$2.86M |
|
517
Victory Portfolios II VictoryShares Core Intermediate Bond ETF
UITB
$2.66B
| $89.1M | 0.03% |
1,893,921
+325,475
| +21% | +$15.1M |
|
518
Global X MLP & Energy Infrastructure ETF
MLPX
$3.57B
| $89.1M | 0.03% |
1,422,391
+18,329
| +1% | +$1.11M |
|
519
Parker-Hannifin
PH
$125B
| $88.9M | 0.03% |
127,255
-5,883
| -4% | -$3.72M |
|
520
State Street SPDR MSCI EAFE StrategicFactors ETF
QEFA
$1.05B
| $88.8M | 0.03% |
1,040,889
+225,053
| +28% | +$18.5M |
|
521
Schwab Fundamental International Large Company Index ETF
FNDF
$24.4B
| $88.8M | 0.03% |
2,218,104
+486,820
| +28% | +$18.4M |
|
522
Grayscale Bitcoin Trust
GBTC
$9.59B
| $88.4M | 0.03% |
1,041,987
-20,618
| -2% | -$1.6M |
|
523
ActivePassive US Equity ETF
APUE
$2.4B
| $88.3M | 0.03% |
2,347,987
+1,559,776
| +198% | +$54.2M |
|
524
Fidelity Nasdaq Composite Index ETF
ONEQ
$10.2B
| $88.2M | 0.03% |
1,100,753
+18,974
| +2% | +$1.37M |
|
525
First Trust North American Energy Infrastructure Fund
EMLP
$4.14B
| $88.1M | 0.03% |
2,349,160
+120,834
| +5% | +$4.42M |
|
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.