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 | |
|---|---|---|---|---|---|---|
776
iShares Fallen Angels USD Bond ETF
FALN
$1.63B
| $47.9M | 0.02% |
1,764,551
-300,210
| -15% | -$7.92M |
|
777
State Street SPDR MSCI ACWI ex-US ETF
CWI
$2.7B
| $47.8M | 0.02% |
1,465,088
+145,213
| +11% | +$4.46M |
|
778
iShares MSCI Japan ETF
EWJ
$21.2B
| $47.8M | 0.02% |
637,774
-141,589
| -18% | -$10.1M |
|
779
Apollo Global Management
APO
$69.7B
| $47.7M | 0.02% |
335,962
+2,379
| +0.7% | +$315K |
|
780
iShares Biotechnology ETF
IBB
$9.45B
| $47.7M | 0.02% |
376,733
-27,130
| -7% | -$3.33M |
|
781
Huntington Bancshares
HBAN
$34.3B
| $47.7M | 0.02% |
2,843,409
+162,979
| +6% | +$2.46M |
|
782
Albemarle
ALB
$13.4B
| $47.6M | 0.02% |
759,950
+177,639
| +31% | +$10.5M |
|
783
iShares US Real Estate ETF
IYR
$4.74B
| $47.5M | 0.02% |
501,387
+149,505
| +42% | +$13.9M |
|
784
LPL Financial
LPLA
$27.4B
| $47.4M | 0.02% |
126,435
+8,206
| +7% | +$2.88M |
|
785
Natixis Loomis Sayles Focused Growth ETF
LSGR
$826M
| $47.2M | 0.02% |
1,128,761
+253,355
| +29% | +$9.45M |
|
786
Distillate US Fundamental Stability & Value ETF
DSTL
$2.03B
| $47.2M | 0.02% |
852,766
-129,782
| -13% | -$6.9M |
|
787
W.P. Carey
WPC
$16.7B
| $47.2M | 0.02% |
756,299
+75,431
| +11% | +$4.64M |
|
788
Invesco FTSE RAFI US 1500 Small-Mid ETF
PRFZ
$2.74B
| $47.1M | 0.02% |
1,158,308
+74,417
| +7% | +$2.84M |
|
789
Franklin Resources
BEN
$16.9B
| $47.1M | 0.02% |
1,973,425
+84,265
| +4% | +$1.74M |
|
790
State Street SPDR Dow Jones REIT ETF
RWR
$1.9B
| $47M | 0.02% |
487,668
+283,953
| +139% | +$27.3M |
|
791
iShares California Muni Bond ETF
CMF
$4.56B
| $47M | 0.02% |
843,495
+42,734
| +5% | +$2.37M |
|
792
JPMorgan BetaBuilders USD High Yield Corporate Bond ETF
BBHY
$614M
| $46.9M | 0.02% |
1,006,055
-522,289
| -34% | -$23.8M |
|
793
Global X MLP ETF
MLPA
$2.28B
| $46.9M | 0.02% |
933,327
+48,122
| +5% | +$2.4M |
|
794
Global X Russell 2000 Covered Call ETF
RYLD
$1.36B
| $46.8M | 0.02% |
3,139,151
+140,617
| +5% | +$2.05M |
|
795
Columbia Emerging Markets Consumer ETF
ECON
$314M
| $46.5M | 0.02% |
1,937,982
-156,090
| -7% | -$3.48M |
|
796
PIMCO Ultra Short Government Active ETF
BILZ
$1B
| $46.3M | 0.02% |
457,700
+216,164
| +89% | +$21.8M |
|
797
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11B
| $46.3M | 0.02% |
344,515
-54,683
| -14% | -$6.75M |
|
798
Diageo
DEO
$49.5B
| $46.3M | 0.02% |
458,986
+24,251
| +6% | +$2.63M |
|
799
Dimensional Core Fixed Income ETF
DFCF
$10.8B
| $46.2M | 0.02% |
1,094,129
+3,686
| +0.3% | +$154K |
|
800
First Trust International Developed Capital Strength ETF
FICS
$217M
| $46.2M | 0.02% |
1,174,262
+230,628
| +24% | +$8.88M |
|
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.