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 | |
|---|---|---|---|---|---|---|
1001
Dow Inc
DOW
$22B
| $31.2M | 0.01% |
1,176,808
+120,185
| +11% | +$3.5M |
|
1002
Copart
CPRT
$28.5B
| $31.1M | 0.01% |
633,971
-67,161
| -10% | -$3.76M |
|
1003
Occidental Petroleum
OXY
$55.7B
| $31.1M | 0.01% |
740,513
+195,002
| +36% | +$8.15M |
|
1004
Yum! Brands
YUM
$41.9B
| $31.1M | 0.01% |
209,556
+12,556
| +6% | +$1.83M |
|
1005
iShares Core 60/40 Balanced Allocation ETF
AOR
$3.61B
| $31.1M | 0.01% |
504,316
+106,587
| +27% | +$6.23M |
|
1006
Invesco Dow Jones Industrial Average Dividend ETF
DJD
$483M
| $30.9M | 0.01% |
581,820
+23,473
| +4% | +$1.2M |
|
1007
Liberty All-Star Equity Fund
USA
$1.78B
| $30.9M | 0.01% |
4,536,023
+167,579
| +4% | +$1.09M |
|
1008
Amplify CEF High Income ETF
YYY
$719M
| $30.8M | 0.01% |
2,631,449
+348,827
| +15% | +$3.93M |
|
1009
Royce Value Trust
RVT
$2.19B
| $30.8M | 0.01% |
2,045,622
+125,931
| +7% | +$1.81M |
|
1010
Delta Air Lines
DAL
$56.7B
| $30.7M | 0.01% |
623,500
+76,190
| +14% | +$3.5M |
|
1011
SLB Ltd
SLB
$72.7B
| $30.7M | 0.01% |
907,106
+3,846
| +0.4% | +$133K |
|
1012
Ross Stores
ROST
$80.8B
| $30.6M | 0.01% |
239,903
+42,748
| +22% | +$5.93M |
|
1013
Equinix
EQIX
$99.4B
| $30.6M | 0.01% |
38,464
+2,684
| +8% | +$2.28M |
|
1014
Brown & Brown
BRO
$25.1B
| $30.6M | 0.01% |
275,626
-5,946
| -2% | -$668K |
|
1015
Guggenheim Strategic Opportunities Fund
GOF
$2.2B
| $30.5M | 0.01% |
2,051,627
+108,163
| +6% | +$1.58M |
|
1016
BILL Holdings
BILL
$4.72B
| $30.5M | 0.01% |
659,311
+571,820
| +654% | +$25.3M |
|
1017
Invesco BulletShares 2028 High Yield Corporate Bond ETF
BSJS
$715M
| $30.5M | 0.01% |
1,382,592
+244,277
| +21% | +$5.3M |
|
1018
John Hancock Multifactor Developed International ETF
JHMD
$947M
| $30.5M | 0.01% |
796,228
+137,587
| +21% | +$5.04M |
|
1019
Dimensional Emerging Core Equity Market ETF
DFAE
$8.91B
| $30.4M | 0.01% |
1,051,180
+231,217
| +28% | +$6.21M |
|
1020
iShares U.S. Large Cap Premium Income Active ETF
BALI
$1.28B
| $30.4M | 0.01% |
1,010,490
+437,126
| +76% | +$12.4M |
|
|
SCHQ
1021
Schwab Long-Term US Treasury ETF
SCHQ
$798M
| $30.3M | 0.01% |
951,610
-56,033
| -6% | -$1.77M |
|
1022
Franklin Senior Loan ETF
FLBL
$852M
| $30.3M | 0.01% |
1,251,358
-7,915
| -0.6% | -$190K |
|
1023
iShares China Large-Cap ETF
FXI
$4.32B
| $30.1M | 0.01% |
819,711
+63,941
| +8% | +$2.24M |
|
1024
EQT Corp
EQT
$32.9B
| $29.9M | 0.01% |
512,029
+188,734
| +58% | +$10.2M |
|
1025
VictoryShares WestEnd US Sector ETF
MODL
$1.02B
| $29.8M | 0.01% |
692,569
+92,977
| +16% | +$3.7M |
|
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.