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 | |
|---|---|---|---|---|---|---|
1101
State Street SPDR S&P Homebuilders ETF
XHB
$1.61B
| $25.5M | 0.01% |
259,086
-26,925
| -9% | -$2.56M |
|
1102
Ferrari
RACE
$67.8B
| $25.5M | 0.01% |
52,028
+7,806
| +18% | +$3.63M |
|
1103
BlackRock Short Maturity Municipal Bond ETF
MEAR
$1.36B
| $25.5M | 0.01% |
507,620
+122,257
| +32% | +$6.12M |
|
1104
PACCAR
PCAR
$70.5B
| $25.5M | 0.01% |
268,268
-13,152
| -5% | -$1.21M |
|
1105
Capital Group Short Duration Municipal Income ETF
CGSM
$1.55B
| $25.4M | 0.01% |
972,516
+171,075
| +21% | +$4.44M |
|
|
SCHR
1106
Schwab Intermediately-Term US Treasury ETF
SCHR
$13.3B
| $25.4M | 0.01% |
1,012,884
+95,117
| +10% | +$2.36M |
|
1107
Devon Energy
DVN
$51.3B
| $25.3M | 0.01% |
794,900
-13,717
| -2% | -$437K |
|
1108
HCA Healthcare
HCA
$90.6B
| $25.2M | 0.01% |
65,849
+386
| +0.6% | +$139K |
|
1109
Goldman Sachs Physical Gold ETF Shares
AAAU
$2.45B
| $25.2M | 0.01% |
770,515
+69,371
| +10% | +$2.25M |
|
1110
Lennar Class A
LEN
$20.4B
| $25.1M | 0.01% |
227,193
+44,808
| +25% | +$4.85M |
|
1111
Invesco International Dividend Achievers ETF
PID
$936M
| $25.1M | 0.01% |
1,223,329
-277
| -0% | -$5.48K |
|
1112
iShares MSCI Taiwan ETF
EWT
$9.13B
| $24.9M | 0.01% |
434,612
-17,802
| -4% | -$910K |
|
1113
VictoryShares US 500 Enhanced Volatility Wtd ETF
CFO
$417M
| $24.9M | 0.01% |
349,770
-3,691
| -1% | -$251K |
|
1114
Church & Dwight Co
CHD
$23.7B
| $24.9M | 0.01% |
259,443
+45,849
| +21% | +$4.52M |
|
|
FITB
1115
Fifth Third Bancorp
FITB
$51.3B
| $24.9M | 0.01% |
606,002
-80,791
| -12% | -$3.03M |
|
1116
iShares US Insurance ETF
IAK
$521M
| $24.9M | 0.01% |
185,155
+25,342
| +16% | +$3.36M |
|
1117
JPMorgan US Tech Leaders ETF
JTEK
$3.9B
| $24.8M | 0.01% |
293,794
+52,877
| +22% | +$3.89M |
|
1118
Invesco S&P MidCap Value with Momentum ETF
XMVM
$504M
| $24.8M | 0.01% |
445,860
+18,526
| +4% | +$980K |
|
1119
State Street SPDR Global Dow ETF
DGT
$605M
| $24.7M | 0.01% |
164,139
+147
| +0.1% | +$20.9K |
|
1120
Invesco BulletShares 2027 High Yield Corporate Bond ETF
BSJR
$856M
| $24.7M | 0.01% |
1,088,901
+211,112
| +24% | +$4.74M |
|
1121
Vulcan Materials
VMC
$36.8B
| $24.7M | 0.01% |
94,559
+4,424
| +5% | +$1.14M |
|
1122
John Hancock Mortgage-Backed Securities ETF
JHMB
$204M
| $24.5M | 0.01% |
1,121,273
+662,916
| +145% | +$14.4M |
|
1123
Fidelity National Information Services
FIS
$24.2B
| $24.5M | 0.01% |
301,171
+78,465
| +35% | +$6.1M |
|
1124
Snap-on
SNA
$21.5B
| $24.4M | 0.01% |
78,399
+2,862
| +4% | +$911K |
|
1125
Pinterest
PINS
$13.7B
| $24.4M | 0.01% |
679,575
+125,805
| +23% | +$3.82M |
|
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.