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 | |
|---|---|---|---|---|---|---|
576
PIMCO Dynamic Income Fund
PDI
$7.42B
| $79.3M | 0.03% |
4,178,529
+676,147
| +19% | +$12.6M |
|
577
iShares MSCI Global Min Vol Factor ETF
ACWV
$3.33B
| $78.6M | 0.03% |
663,248
+11,692
| +2% | +$1.36M |
|
578
Principal Exchange-Traded Funds Principal US Mega-Cap ETF
USMC
$3.54B
| $78.6M | 0.03% |
1,256,291
+464,654
| +59% | +$27M |
|
579
Global X US Preferred ETF
PFFD
$2.15B
| $78.5M | 0.03% |
4,170,782
-1,505,094
| -27% | -$28M |
|
580
State Street SPDR Portfolio Long Term Corporate Bond ETF
SPLB
$1.2B
| $77.7M | 0.03% |
3,441,026
+197,137
| +6% | +$4.33M |
|
581
John Hancock Multifactor Large Cap ETF
JHML
$1.16B
| $77M | 0.03% |
1,049,430
-46,144
| -4% | -$3.16M |
|
582
Arthur J. Gallagher & Co
AJG
$68.2B
| $76.5M | 0.03% |
238,844
+13,462
| +6% | +$4.44M |
|
|
583
Invesco Preferred ETF
PGX
$3.81B
| $76.4M | 0.03% |
6,861,034
-8,332,023
| -55% | -$91.8M |
|
584
CME Group
CME
$93.5B
| $75.7M | 0.03% |
274,474
+60,311
| +28% | +$16.4M |
|
585
Global X Robotics & Artificial Intelligence ETF
BOTZ
$3.17B
| $75.5M | 0.03% |
2,311,665
+102,294
| +5% | +$3.03M |
|
586
iShares Global Tech ETF
IXN
$8.1B
| $75.5M | 0.03% |
817,228
-31,436
| -4% | -$2.55M |
|
587
Healthpeak Properties
DOC
$15.7B
| $75.2M | 0.03% |
4,293,341
+260,562
| +6% | +$4.63M |
|
588
Colgate-Palmolive
CL
$74.2B
| $75.1M | 0.03% |
826,730
+40,514
| +5% | +$3.7M |
|
589
Broadridge
BR
$18.3B
| $75.1M | 0.03% |
309,068
+5,864
| +2% | +$1.39M |
|
590
Nuveen ESG Large-Cap Growth ETF
NULG
$2.65B
| $75M | 0.03% |
798,120
+29,910
| +4% | +$2.52M |
|
591
Vanguard Russell 2000 ETF
VTWO
$17.5B
| $75M | 0.03% |
859,551
+75,939
| +10% | +$6.18M |
|
592
iShares U.S. Carbon Transition Readiness Aware Active ETF
LCTU
$1.2B
| $74.7M | 0.02% |
1,110,937
+148,260
| +15% | +$9.2M |
|
593
AB Tax-Aware Short Duration Municipal ETF
TAFI
$1.37B
| $74.7M | 0.02% |
2,975,645
+94,852
| +3% | +$2.37M |
|
594
Cencora
COR
$62.2B
| $74.7M | 0.02% |
249,055
+18,138
| +8% | +$5.23M |
|
595
Invesco RAFI Strategic US ETF
IUS
$918M
| $74.4M | 0.02% |
1,445,230
+149,165
| +12% | +$7.29M |
|
596
Fidelity Enhanced Large Cap Core ETF
FELC
$7.9B
| $73.8M | 0.02% |
2,141,139
+922,466
| +76% | +$29.4M |
|
597
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.1B
| $73.8M | 0.02% |
2,978,027
-7,402
| -0.2% | -$182K |
|
|
MRSH
598
Marsh
MRSH
$91.7B
| $73.7M | 0.02% |
337,253
+13,218
| +4% | +$2.98M |
|
|
DFAI
599
Dimensional International Core Equity Market ETF
DFAI
$17.2B
| $73.7M | 0.02% |
2,130,770
+752,095
| +55% | +$24.6M |
|
600
Fastenal
FAST
$55.2B
| $73.6M | 0.02% |
1,753,459
+969,595
| +124% | +$39.3M |
|
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.