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 | |
|---|---|---|---|---|---|---|
1526
Invesco Dorsey Wright SmallCap Momentum ETF
DWAS
$413M
| $13.2M | ﹤0.01% |
155,818
-18,384
| -11% | -$1.46M |
|
1527
First Solar
FSLR
$21.4B
| $13.2M | ﹤0.01% |
79,837
+29,433
| +58% | +$4.35M |
|
1528
Toronto Dominion Bank
TD
$193B
| $13.2M | ﹤0.01% |
179,848
+34,672
| +24% | +$2.26M |
|
1529
ResMed
RMD
$31.1B
| $13.1M | ﹤0.01% |
50,962
-18,150
| -26% | -$4.33M |
|
1530
Invesco S&P 500 Equal Weight Health Care ETF
RSPH
$773M
| $13.1M | ﹤0.01% |
450,503
-13,593
| -3% | -$387K |
|
1531
First Trust Mid Cap Value AlphaDEX Fund
FNK
$231M
| $13.1M | ﹤0.01% |
253,587
-1,347
| -0.5% | -$66.3K |
|
1532
Gabelli Dividend & Income Trust
GDV
$2.59B
| $13.1M | ﹤0.01% |
502,576
+54,486
| +12% | +$1.31M |
|
1533
BlackRock Core Bond Trust
BHK
$644M
| $13.1M | ﹤0.01% |
1,344,583
+33,166
| +3% | +$336K |
|
1534
Jabil
JBL
$30.1B
| $13M | ﹤0.01% |
59,634
+13,756
| +30% | +$2.23M |
|
1535
Simplify Short Term Treasury Futures Strategy ETF
TUA
$699M
| $13M | ﹤0.01% |
589,420
+53,017
| +10% | +$1.16M |
|
1536
Invesco Building & Construction ETF
PKB
$418M
| $13M | ﹤0.01% |
161,506
-45,695
| -22% | -$3.37M |
|
1537
Texas Roadhouse
TXRH
$13.7B
| $13M | ﹤0.01% |
69,238
+23,944
| +53% | +$4.3M |
|
1538
PGIM Active High Yield Bond ETF
PHYL
$1.33B
| $13M | ﹤0.01% |
365,469
-65,880
| -15% | -$2.28M |
|
1539
State Street SPDR S&P Emerging Markets Small Cap ETF
EWX
$642M
| $13M | ﹤0.01% |
209,004
-8,325
| -4% | -$484K |
|
1540
Bahl & Gaynor Small/Mid Cap Income Growth ETF
SMIG
$1.52B
| $12.9M | ﹤0.01% |
448,422
+219,226
| +96% | +$6.18M |
|
1541
Lamar Advertising Co
LAMR
$16.7B
| $12.9M | ﹤0.01% |
106,589
+11,807
| +12% | +$1.37M |
|
1542
Sprott Uranium Miners ETF
URNM
$1.71B
| $12.9M | ﹤0.01% |
269,654
-19,737
| -7% | -$749K |
|
1543
Invesco Zacks Mid-Cap ETF
CZA
$191M
| $12.9M | ﹤0.01% |
120,731
-9,722
| -7% | -$995K |
|
|
CRF
1544
Cornerstone Total Return Fund
CRF
$1.13B
| $12.8M | ﹤0.01% |
1,657,295
+426,753
| +35% | +$3.03M |
|
1545
Invesco KBW High Dividend Yield Financial ETF
KBWD
$413M
| $12.8M | ﹤0.01% |
925,509
+69,821
| +8% | +$943K |
|
1546
Tyson Foods
TSN
$21.5B
| $12.8M | ﹤0.01% |
229,033
+1,182
| +0.5% | +$67.9K |
|
1547
Dynatrace
DT
$12.7B
| $12.8M | ﹤0.01% |
231,860
+9,172
| +4% | +$459K |
|
1548
Xtrackers MSCI EAFE High Dividend Yield Equity ETF
HDEF
$2.35B
| $12.8M | ﹤0.01% |
443,049
+249,799
| +129% | +$7M |
|
1549
Celsius Holdings
CELH
$7.38B
| $12.8M | ﹤0.01% |
274,892
+29,835
| +12% | +$1.15M |
|
1550
Invesco Global Listed Private Equity ETF
PSP
$230M
| $12.7M | ﹤0.01% |
184,894
+40,166
| +28% | +$2.6M |
|
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.