LPL Financial Portfolio holdings

AUM $299B

1-Year Return 15.17%

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.

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+2.94%

1 Year Return

+15.17%

3 Year Return

+54.04%

5 Year Return

+83.67%

10 Year Return

+161.11%

AUM

$46.9B

AUM Growth

+$2.89B (+6.6%)

Cap. Flow

+$1.72B

Cap. Flow % of AUM

3.67%

Top 10 Holdings % Top 10 Hldgs %

23.26%

Holding

3,385

New

218

Increased

1,711

Reduced

1,249

Closed

127

Top Buys

1	iShares US Treasury Bond ETF GOVT	+$114M
2	iShares 1-3 Year Treasury Bond ETF SHY	+$106M
3	SPDR S&P 500 ETF Trust SPY	+$91.3M
4	iShares Short Treasury Bond ETF SHV	+$86M
5	iShares MSCI USA Min Vol Factor ETF USMV	+$62M

Top Sells

1	Vanguard Total Bond Market BND	+$138M
2	iShares Core MSCI EAFE ETF IEFA	+$44.4M
3	WisdomTree US Total Dividend Fund DTD	+$36.8M
4	iShares JPMorgan USD Emerging Markets Bond ETF EMB	+$36.2M
5	iShares 20+ Year Treasury Bond ETF TLT	+$35.2M

Sector Composition

1	Technology	3.59%
2	Financials	2.78%
3	Healthcare	2.32%
4	Consumer Discretionary	2.14%
5	Industrials	2.13%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
551	551 Fidelity Nasdaq Composite Index ETF ONEQ $8.67B	$9.03M	0.02%	287,040 -41,050	-13%	-$1.29M
552	552 First Trust SSI Strategic Convertible Securities ETF FCVT $105M	$9.03M	0.02%	287,910 -53,191	-16%	-$1.67M
553	553 Cigna CI $80.6B	$9.02M	0.02%	57,251 +9,679	+20%	+$1.52M
554	554 Invesco S&P 500 Equal Weight Technology ETF RSPT $3.78B	$9.01M	0.02%	507,980 -110,370	-18%	-$1.96M
555	555 Aflac AFL $56.8B	$8.98M	0.02%	163,867 +5,674	+4%	+$311K
556	556 Freeport-McMoran FCX $63B	$8.98M	0.02%	773,171 +60,879	+9%	+$707K
557	557 VanEck Intermediate Muni ETF ITM $1.96B	$8.9M	0.02%	178,947 +16,184	+10%	+$805K
558	558 Global X Adaptive US Factor ETF AUSF $692M	$8.89M	0.02%	359,500 +11,838	+3%	+$293K
559	559 DocuSign DOCU $16B	$8.87M	0.02%	178,523 +33,836	+23%	+$1.68M
560	TWTR 560 DELISTED Twitter, Inc. TWTR	$8.81M	0.02%	252,362 +13,994	+6%	+$488K
561	561 Booking.com BKNG $181B	$8.8M	0.02%	4,696 +519	+12%	+$973K
562	CSF 562 DELISTED VictoryShares US Discovery Enhanced Volatility Wtd ETF CSF	$8.78M	0.02%	232,529 -102,420	-31%	-$3.87M
563	563 Invesco Zacks Mid-Cap ETF CZA $182M	$8.75M	0.02%	122,249 -23,064	-16%	-$1.65M
564	564 Global X FinTech ETF FINX $303M	$8.74M	0.02%	296,316 +71,809	+32%	+$2.12M
565	565 Prudential Financial PRU $37.1B	$8.72M	0.02%	86,370 +15,851	+22%	+$1.6M
566	566 Vanguard S&P Small-Cap 600 Value ETF VIOV $1.41B	$8.71M	0.02%	135,752 +4,422	+3%	+$284K
567	567 Invesco S&P MidCap Momentum ETF XMMO $4.35B	$8.7M	0.02%	147,876 -48,335	-25%	-$2.84M
568	568 Huntington Bancshares HBAN $25.7B	$8.69M	0.02%	629,075 +82,264	+15%	+$1.14M
569	569 Energy Transfer Partners ET $58.9B	$8.67M	0.02%	616,052 +25,834	+4%	+$364K
570	BSJL 570 DELISTED Invesco BulletShares 2021 High Yield Corporate Bond ETF BSJL	$8.67M	0.02%	351,095 +18,502	+6%	+$457K
571	571 United States Oil Fund USO $912M	$8.58M	0.02%	89,107 -16,055	-15%	-$1.55M
572	572 Invesco KBW Premium Yield Equity REIT ETF KBWY $253M	$8.57M	0.02%	285,133 +28,712	+11%	+$863K
573	573 Vanguard FTSE Pacific ETF VPL $7.87B	$8.55M	0.02%	129,371 -21,828	-14%	-$1.44M
574	574 ROBO Global Robotics & Automation Index ETF ROBO $1.12B	$8.53M	0.02%	213,589 +2,580	+1%	+$103K
575	USFR 575 DELISTED WisdomTree Bloomberg Floating Rate Treasury Fund USFR	$8.5M	0.02%	338,909 -743	-0.2%	-$18.6K