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 | |
|---|---|---|---|---|---|---|
1651
Canadian National Railway
CNI
$78.5B
| $10.9M | ﹤0.01% |
104,394
-1,244
| -1% | -$127K |
|
1652
Adaptive Alpha Opportunities ETF
AGOX
$369M
| $10.9M | ﹤0.01% |
366,921
-12,462
| -3% | -$335K |
|
1653
Invesco KBW Premium Yield Equity REIT ETF
KBWY
$320M
| $10.8M | ﹤0.01% |
689,163
+95,185
| +16% | +$1.48M |
|
1654
Vanguard Total Corporate Bond ETF
VTC
$1.72B
| $10.8M | ﹤0.01% |
140,097
+36,415
| +35% | +$2.77M |
|
1655
Nu Holdings
NU
$67.8B
| $10.8M | ﹤0.01% |
789,238
-27,455
| -3% | -$329K |
|
1656
Booz Allen Hamilton
BAH
$8.44B
| $10.8M | ﹤0.01% |
103,985
-4,566
| -4% | -$511K |
|
|
PWRD
1657
TCW Transform Systems ETF
PWRD
$1.35B
| $10.8M | ﹤0.01% |
119,948
+86,870
| +263% | +$6.71M |
|
1658
Pentair
PNR
$10.6B
| $10.8M | ﹤0.01% |
105,172
+14,650
| +16% | +$1.37M |
|
1659
OGE Energy
OGE
$9.87B
| $10.8M | ﹤0.01% |
243,251
+12,062
| +5% | +$535K |
|
1660
Columbia India Consumer ETF
INCO
$232M
| $10.8M | ﹤0.01% |
166,314
+38,663
| +30% | +$2.45M |
|
1661
iShares iBonds Dec 2027 Term Muni Bond ETF
IBMP
$651M
| $10.8M | ﹤0.01% |
425,371
+17,446
| +4% | +$440K |
|
|
IBTP
1662
iShares iBonds Dec 2034 Term Treasury ETF
IBTP
$279M
| $10.8M | ﹤0.01% |
418,558
+150,543
| +56% | +$3.82M |
|
1663
Starwood Property Trust
STWD
$6.12B
| $10.8M | ﹤0.01% |
535,764
+39,561
| +8% | +$769K |
|
1664
Goldman Sachs Hedge Industry VIP ETF
GVIP
$529M
| $10.8M | ﹤0.01% |
77,707
-22,652
| -23% | -$2.83M |
|
1665
iShares Russell 2500 ETF
SMMD
$3.53B
| $10.7M | ﹤0.01% |
158,245
+26,246
| +20% | +$1.66M |
|
1666
Western Midstream Partners
WES
$19.4B
| $10.7M | ﹤0.01% |
277,118
+18,324
| +7% | +$697K |
|
1667
Fidelity MSCI Consumer Discretionary Index ETF
FDIS
$1.63B
| $10.7M | ﹤0.01% |
113,979
+51
| +0% | +$4.49K |
|
1668
Nuveen ESG US Aggregate Bond ETF
NUBD
$464M
| $10.7M | ﹤0.01% |
481,528
+27,754
| +6% | +$610K |
|
1669
Lennox International
LII
$15B
| $10.7M | ﹤0.01% |
18,692
-2,538
| -12% | -$1.42M |
|
1670
FlexShares Global Upstream Natural Resources Index Fund
GUNR
$7.19B
| $10.7M | ﹤0.01% |
266,768
-821
| -0.3% | -$31.7K |
|
1671
Zimmer Biomet
ZBH
$18.8B
| $10.7M | ﹤0.01% |
117,220
-2,861
| -2% | -$277K |
|
1672
Waters Corp
WAT
$37.3B
| $10.7M | ﹤0.01% |
30,562
+5,429
| +22% | +$1.87M |
|
|
BSMP
1673
DELISTED
Invesco BulletShares 2025 Municipal Bond ETF
BSMP
| $10.6M | ﹤0.01% |
431,703
+31,346
| +8% | +$767K |
|
1674
Vanguard S&P Small-Cap 600 Value ETF
VIOV
$1.85B
| $10.5M | ﹤0.01% |
123,166
+20,534
| +20% | +$1.67M |
|
1675
Essential Utilities
WTRG
$11.5B
| $10.5M | ﹤0.01% |
283,500
-11,808
| -4% | -$460K |
|
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.