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 | |
|---|---|---|---|---|---|---|
1601
Accel Entertainment
ACEL
$1B
| $11.9M | ﹤0.01% |
1,008,187
-37,000
| -4% | -$413K |
|
1602
Whirlpool
WHR
$2.49B
| $11.8M | ﹤0.01% |
116,786
+645
| +0.6% | +$53.7K |
|
1603
Aptus Defined Risk ETF
DRSK
$1.5B
| $11.8M | ﹤0.01% |
412,087
+45,148
| +12% | +$1.25M |
|
1604
Invesco BulletShares 2026 Municipal Bond ETF
BSMQ
$271M
| $11.8M | ﹤0.01% |
500,997
+77,961
| +18% | +$1.83M |
|
1605
Williams-Sonoma
WSM
$27.5B
| $11.8M | ﹤0.01% |
72,089
+10,429
| +17% | +$1.64M |
|
1606
Warner Bros
WBD
$64.3B
| $11.8M | ﹤0.01% |
1,027,506
-48,628
| -5% | -$454K |
|
1607
Mueller Industries
MLI
$14.5B
| $11.8M | ﹤0.01% |
296,226
-37,446
| -11% | -$1.41M |
|
|
TRPA
1608
Hartford AAA CLO ETF
TRPA
$103M
| $11.8M | ﹤0.01% |
302,382
-226,091
| -43% | -$8.77M |
|
1609
Ball Corp
BALL
$17.5B
| $11.7M | ﹤0.01% |
209,225
-49,436
| -19% | -$2.58M |
|
1610
ProShares UltraPro QQQ
TQQQ
$28.6B
| $11.7M | ﹤0.01% |
282,602
+136,036
| +93% | +$4.3M |
|
|
FSCS
1611
First Trust SMID Capital Strength ETF
FSCS
$58.6M
| $11.7M | ﹤0.01% |
327,838
+18,770
| +6% | +$651K |
|
1612
Flutter Entertainment
FLUT
$18.7B
| $11.7M | ﹤0.01% |
40,864
+5,460
| +15% | +$1.34M |
|
1613
First Trust STOXX European Select Dividend Income Fund
FDD
$867M
| $11.7M | ﹤0.01% |
749,713
+278,001
| +59% | +$4.05M |
|
1614
Vanguard Global ex-US Real Estate ETF
VNQI
$3.51B
| $11.6M | ﹤0.01% |
251,843
+100,956
| +67% | +$4.36M |
|
1615
Halozyme
HALO
$9.88B
| $11.6M | ﹤0.01% |
222,938
-19,494
| -8% | -$1.11M |
|
1616
F5
FFIV
$22B
| $11.6M | ﹤0.01% |
39,317
+9,989
| +34% | +$2.76M |
|
1617
First Trust Exchange-Traded Fund II First Trust Indxx Global Natural Resources Income ETF
FTRI
$123M
| $11.6M | ﹤0.01% |
812,004
+12,830
| +2% | +$173K |
|
1618
AB Tax-Aware Intermediate Municipal ETF
TAFM
$697M
| $11.5M | ﹤0.01% |
463,283
+447,122
| +2,767% | +$11.1M |
|
1619
iShares Morningstar Small-Cap Value ETF
ISCV
$695M
| $11.5M | ﹤0.01% |
187,790
+37,351
| +25% | +$2.18M |
|
1620
J.M. Smucker
SJM
$13.5B
| $11.5M | ﹤0.01% |
117,223
+8,574
| +8% | +$943K |
|
1621
NetApp
NTAP
$34B
| $11.5M | ﹤0.01% |
107,931
+41,263
| +62% | +$3.91M |
|
|
PMBS
1622
PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund
PMBS
$1.38B
| $11.5M | ﹤0.01% |
234,379
-44,366
| -16% | -$2.15M |
|
1623
First Trust Active Factor Mid Cap ETF
AFMC
$188M
| $11.4M | ﹤0.01% |
356,038
+326,603
| +1,110% | +$10M |
|
|
CGHM
1624
Capital Group Municipal High-Income ETF
CGHM
$3.22B
| $11.4M | ﹤0.01% |
463,619
+261,912
| +130% | +$6.43M |
|
1625
Halliburton
HAL
$26.1B
| $11.3M | ﹤0.01% |
555,984
-99,737
| -15% | -$2.09M |
|
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.