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 | |
|---|---|---|---|---|---|---|
876
VanEck Morningstar SMID Moat ETF
SMOT
$338M
| $40.3M | 0.01% |
1,158,015
-112,128
| -9% | -$3.66M |
|
877
Ameriprise Financial
AMP
$47.8B
| $40.2M | 0.01% |
75,404
+4,749
| +7% | +$2.35M |
|
878
Goldman Sachs Access Ultra Short Bond ETF
GSST
$1.57B
| $40.2M | 0.01% |
795,661
+210,018
| +36% | +$10.6M |
|
879
Dover
DOV
$26.7B
| $40.2M | 0.01% |
219,233
+19,747
| +10% | +$3.44M |
|
880
VICI Properties
VICI
$29.9B
| $40M | 0.01% |
1,228,401
+65,827
| +6% | +$2.09M |
|
881
iShares Global REIT ETF
REET
$5.14B
| $40M | 0.01% |
1,617,901
+46,834
| +3% | +$1.13M |
|
882
Builders FirstSource
BLDR
$7.29B
| $39.9M | 0.01% |
342,190
+41,606
| +14% | +$4.8M |
|
883
TC Energy
TRP
$70.1B
| $39.8M | 0.01% |
816,142
+9,882
| +1% | +$485K |
|
884
Franklin Short Duration US Government ETF
FTSD
$300M
| $39.8M | 0.01% |
437,713
+182,479
| +71% | +$16.5M |
|
885
iShares Morningstar Mid-Cap ETF
IMCB
$1.65B
| $39.7M | 0.01% |
498,843
+45,220
| +10% | +$3.39M |
|
886
Invesco Dorsey Wright Technology Momentum ETF
PTF
$513M
| $39.5M | 0.01% |
578,813
-43,529
| -7% | -$2.68M |
|
887
iShares MSCI ACWI ETF
ACWI
$32B
| $39.5M | 0.01% |
307,346
+55,812
| +22% | +$6.69M |
|
888
Invesco High Yield Equity Dividend Achievers ETF
PEY
$1.16B
| $39.4M | 0.01% |
1,929,218
-12,560
| -0.6% | -$253K |
|
889
Take-Two Interactive
TTWO
$46.1B
| $39.3M | 0.01% |
161,874
+25,117
| +18% | +$5.66M |
|
890
TransDigm Group
TDG
$70.7B
| $39.3M | 0.01% |
25,823
+3,274
| +15% | +$4.6M |
|
891
JPMorgan US Momentum Factor ETF
JMOM
$2.41B
| $39M | 0.01% |
606,899
+408,553
| +206% | +$24M |
|
892
International Paper
IP
$22.6B
| $38.9M | 0.01% |
831,479
+95,113
| +13% | +$4.5M |
|
|
CGCV
893
Capital Group Conservative Equity ETF
CGCV
$1.92B
| $38.9M | 0.01% |
1,360,833
+973,998
| +252% | +$26.4M |
|
894
Amplify Blockchain Technology ETF
BLOK
$1.03B
| $38.9M | 0.01% |
681,475
+198,469
| +41% | +$8.98M |
|
895
iShares ESG Optimized MSCI USA ETF
SUSA
$3.95B
| $38.9M | 0.01% |
306,532
+3,966
| +1% | +$468K |
|
896
SoFi Technologies
SOFI
$19.6B
| $38.8M | 0.01% |
2,130,776
+318,146
| +18% | +$4.2M |
|
897
Invesco BulletShares 2030 Corporate Bond ETF
BSCU
$2.65B
| $38.6M | 0.01% |
2,302,307
+134,799
| +6% | +$2.24M |
|
898
PIMCO Enhanced Low Duration Active Exchange-Traded Fund
LDUR
$1.37B
| $38.6M | 0.01% |
402,662
+24,076
| +6% | +$2.3M |
|
899
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
$1.8B
| $38.6M | 0.01% |
1,133,786
+103,078
| +10% | +$3.33M |
|
900
Invesco BulletShares 2032 Corporate Bond ETF
BSCW
$1.48B
| $38.5M | 0.01% |
1,868,492
+366,630
| +24% | +$7.44M |
|
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.