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 | |
|---|---|---|---|---|---|---|
526
iShares ESG Aware US Aggregate Bond ETF
EAGG
$4.99B
| $88.1M | 0.03% |
1,853,302
+184,611
| +11% | +$8.67M |
|
527
VanEck Intermediate Muni ETF
ITM
$2.15B
| $88.1M | 0.03% |
1,937,260
+118,688
| +7% | +$5.35M |
|
528
FedEx
FDX
$74B
| $87.4M | 0.03% |
384,352
+19,632
| +5% | +$4.3M |
|
529
Invesco Senior Loan ETF
BKLN
$6.97B
| $87.3M | 0.03% |
4,172,460
-98,066
| -2% | -$2.04M |
|
530
Intercontinental Exchange
ICE
$86.4B
| $87.2M | 0.03% |
475,322
-6,829
| -1% | -$1.17M |
|
531
Schwab Fundamental US Large Company Index ETF
FNDX
$26.8B
| $87.1M | 0.03% |
3,548,069
+969,875
| +38% | +$22.6M |
|
532
State Street Materials Select Sector SPDR ETF
XLB
$8.82B
| $87.1M | 0.03% |
1,983,046
-102,402
| -5% | -$4.34M |
|
533
State Street SPDR EURO STOXX 50 ETF
FEZ
$4.32B
| $87.1M | 0.03% |
1,457,615
+674,035
| +86% | +$38.5M |
|
534
Goldman Sachs ETF Trust Goldman Sachs S&P 500 Premium Income ETF
GPIX
$4.86B
| $87M | 0.03% |
1,745,651
+434,712
| +33% | +$20.3M |
|
535
WisdomTree India Earnings Fund ETF
EPI
$2.05B
| $86.8M | 0.03% |
1,827,793
+293,711
| +19% | +$13.3M |
|
536
Dell
DELL
$253B
| $86.7M | 0.03% |
707,420
+143,480
| +25% | +$14.7M |
|
537
Coinbase
COIN
$44.2B
| $86M | 0.03% |
245,471
+38,806
| +19% | +$9.07M |
|
538
State Street SPDR S&P 400 Mid Cap Value ETF
MDYV
$2.79B
| $85.9M | 0.03% |
1,081,722
-54,428
| -5% | -$4.12M |
|
539
Marvell Technology
MRVL
$157B
| $85.8M | 0.03% |
1,108,736
+308,961
| +39% | +$19.3M |
|
540
Invesco Large Cap Value ETF
PWV
$1.7B
| $85.2M | 0.03% |
1,371,551
+151,169
| +12% | +$8.84M |
|
541
Applovin
APP
$140B
| $85.2M | 0.03% |
243,302
+84,822
| +54% | +$27.5M |
|
542
Vertiv
VRT
$104B
| $85.1M | 0.03% |
662,527
+96,771
| +17% | +$9.41M |
|
543
First Trust Technology AlphaDEX Fund
FXL
$2.45B
| $84.7M | 0.03% |
538,390
+42,403
| +9% | +$6.01M |
|
544
British American Tobacco
BTI
$134B
| $84.7M | 0.03% |
1,788,850
+958,192
| +115% | +$42.4M |
|
545
Ares Capital
ARCC
$13.7B
| $84.2M | 0.03% |
3,834,636
+266,820
| +7% | +$5.67M |
|
546
iShares US Financials ETF
IYF
$4.74B
| $84.1M | 0.03% |
695,028
-47,898
| -6% | -$5.4M |
|
547
JPMorgan Equity Focus ETF
JPEF
$1.97B
| $83.8M | 0.03% |
1,195,133
+453,659
| +61% | +$29.5M |
|
548
iShares MSCI EAFE Min Vol Factor ETF
EFAV
$5.32B
| $83.8M | 0.03% |
996,453
+138,420
| +16% | +$11.3M |
|
549
FT Vest Laddered Moderate Buffer ETF
BUFZ
$1.01B
| $83.6M | 0.03% |
3,355,048
+571,683
| +21% | +$13.6M |
|
550
Vanguard Energy ETF
VDE
$9.72B
| $83.3M | 0.03% |
699,258
+81,298
| +13% | +$9.46M |
|
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.