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 | |
|---|---|---|---|---|---|---|
1276
Equifax
EFX
$22B
| $19.3M | 0.01% |
74,527
+1,487
| +2% | +$378K |
|
1277
Aecom
ACM
$9.46B
| $19.3M | 0.01% |
171,086
-16,294
| -9% | -$1.69M |
|
1278
WisdomTree US Multifactor Fund
USMF
$293M
| $19.3M | 0.01% |
376,170
-43,694
| -10% | -$2.16M |
|
1279
United Airlines
UAL
$38.8B
| $19.3M | 0.01% |
241,897
-3,798
| -2% | -$280K |
|
1280
Invesco S&P 500 High Beta ETF
SPHB
$934M
| $19.2M | 0.01% |
197,363
-188,024
| -49% | -$15.9M |
|
1281
Omnicom Group
OMC
$23.5B
| $19.2M | 0.01% |
267,350
+45,860
| +21% | +$3.39M |
|
1282
Innovator US Equity Power Buffer ETF December
PDEC
$973M
| $19.2M | 0.01% |
480,225
+6,772
| +1% | +$258K |
|
1283
Leidos
LDOS
$14.4B
| $19.2M | 0.01% |
121,743
+25,755
| +27% | +$3.81M |
|
|
INCE
1284
Franklin Income Equity Focus ETF
INCE
$132M
| $19.2M | 0.01% |
333,287
+14,223
| +4% | +$782K |
|
1285
First Trust Europe AlphaDEX Fund
FEP
$515M
| $19.1M | 0.01% |
400,245
+49,935
| +14% | +$2.21M |
|
|
PRMB
1286
Primo Brands
PRMB
$8.35B
| $19.1M | 0.01% |
645,342
+317,133
| +97% | +$10.1M |
|
1287
State Street SPDR S&P Capital Markets ETF
KCE
$450M
| $19.1M | 0.01% |
131,811
-19,330
| -13% | -$2.52M |
|
1288
Annaly Capital Management
NLY
$17.3B
| $19.1M | 0.01% |
1,014,238
+162,841
| +19% | +$3.1M |
|
1289
iShares MSCI Italy ETF
EWI
$987M
| $19.1M | 0.01% |
396,300
+47,640
| +14% | +$2.15M |
|
1290
Franklin Bitcoin ETF
EZBC
$376M
| $19.1M | 0.01% |
305,620
+90,805
| +42% | +$5.19M |
|
1291
iShares US Equity Factor ETF
LRGF
$3.5B
| $19M | 0.01% |
296,021
+77,220
| +35% | +$4.58M |
|
1292
Dimensional National Municipal Bond ETF
DFNM
$2.23B
| $19M | 0.01% |
399,622
+98,271
| +33% | +$4.64M |
|
1293
iShares Yield Optimized Bond ETF
BYLD
$447M
| $19M | 0.01% |
838,197
+35,144
| +4% | +$781K |
|
1294
Franklin International Aggregate Bond ETF
FLIA
$765M
| $18.9M | 0.01% |
921,363
+438,955
| +91% | +$8.96M |
|
1295
First Trust Exchange-Traded Fund VI Multi-Asset Diversified Income Index Fund
MDIV
$431M
| $18.9M | 0.01% |
1,196,971
+8,845
| +0.7% | +$139K |
|
1296
IQVIA
IQV
$40.7B
| $18.9M | 0.01% |
119,964
+17,843
| +17% | +$2.69M |
|
1297
First Trust Low Duration Strategic Focus ETF
LDSF
$161M
| $18.9M | 0.01% |
994,397
+256,381
| +35% | +$4.83M |
|
1298
Simplify Hedged Equity ETF
HEQT
$295M
| $18.9M | 0.01% |
628,224
-577,044
| -48% | -$16.7M |
|
1299
Rocket Lab Corp
RKLB
$36.6B
| $18.9M | 0.01% |
527,720
+149,512
| +40% | +$3.66M |
|
1300
Wheaton Precious Metals
WPM
$49.7B
| $18.9M | 0.01% |
210,162
+12,187
| +6% | +$1.03M |
|
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.