LPL Financial Portfolio holdings

AUM $299B

1-Year Return 15.17%

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.

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+1.78%

1 Year Return

+15.17%

3 Year Return

+54.04%

5 Year Return

+83.67%

10 Year Return

+161.11%

AUM

$16.3B

AUM Growth

+$256M (+1.6%)

Cap. Flow

+$35.2M

Cap. Flow % of AUM

0.22%

Top 10 Holdings % Top 10 Hldgs %

19.25%

Holding

2,836

New

192

Increased

1,211

Reduced

1,175

Closed

199

Top Buys

1	iShares S&P 500 Growth ETF IVW	+$87.8M
2	iShares Core MSCI EAFE ETF IEFA	+$72.6M
3	iShares Core US Aggregate Bond ETF AGG	+$47.3M
4	SPDR Bloomberg Short Term High Yield Bond ETF SJNK	+$43.2M
5	iShares iBoxx $ Investment Grade Corporate Bond ETF LQD	+$43M

Top Sells

1	iShares MSCI EAFE ETF EFA	+$120M
2	SPDR S&P MidCap 400 ETF Trust MDY	+$57.3M
3	iShares S&P Small-Cap 600 Growth ETF IJT	+$53.3M
4	iShares Russell 1000 ETF IWB	+$41.2M
5	iShares 1-5 Year Investment Grade Corporate Bond ETF IGSB	+$39.1M

Sector Composition

1	Technology	3.04%
2	Energy	2.95%
3	Financials	2.87%
4	Healthcare	2.78%
5	Industrials	2.67%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1751	VGR 1751 DELISTED Vector Group Ltd. VGR	$498K	﹤0.01%	43,648 +1,143	+3%	+$13K
1752	IRL 1752 DELISTED NEW IRELAND FUND INC IRL	$498K	﹤0.01%	34,680 +19,020	+121%	+$273K
1753	HCF 1753 DELISTED NEXPOINT CREDIT STRATEGIES FUND HCF	$497K	﹤0.01%	44,856 -7,989	-15%	-$88.5K
1754	1754 Yelp YELP $1.95B	$496K	﹤0.01%	6,443 -10,512	-62%	-$809K
1755	1755 Pultegroup PHM $27.1B	$495K	﹤0.01%	25,811 +3,253	+14%	+$62.4K
1756	1756 Invesco S&P SmallCap Energy ETF PSCE $58M	$495K	﹤0.01%	1,927 -2,600	-57%	-$668K
1757	TE 1757 DELISTED TECO ENERGY INC TE	$493K	﹤0.01%	28,767 +8,030	+39%	+$138K
1758	1758 GATX Corp GATX $6.07B	$492K	﹤0.01%	7,241 +1,040	+17%	+$70.7K
1759	LTC 1759 LTC Properties LTC $1.67B	$491K	﹤0.01%	13,058 -2,810	-18%	-$106K
1760	1760 ROBO Global Robotics & Automation Index ETF ROBO $1.13B	$490K	﹤0.01%	+17,994	New	+$490K
1761	1761 Royal Caribbean RCL $91.8B	$489K	﹤0.01%	8,963 +1,264	+16%	+$69K
1762	1762 iShares Core 1-5 Year USD Bond ETF ISTB $4.46B	$487K	﹤0.01%	9,722 +3,148	+48%	+$158K
1763	1763 CenterPoint Energy CNP $25B	$486K	﹤0.01%	20,516 -11,685	-36%	-$277K
1764	MNRK 1764 DELISTED MONARCH FINANCIAL HOLDINGS INC COM STK MNRK	$484K	﹤0.01%	43,465 +2,640	+6%	+$29.4K
1765	PAGG 1765 DELISTED Invesco Global Agriculture ETF PAGG	$483K	﹤0.01%	15,876 -8,530	-35%	-$260K
1766	1766 VanEck BDC Income ETF BIZD $1.67B	$482K	﹤0.01%	23,186 +12,994	+127%	+$270K
1767	DSM 1767 BNY Mellon Strategic Municipal Bond Fund DSM $291M	$482K	﹤0.01%	61,853 +3,014	+5%	+$23.5K
1768	EGOV 1768 DELISTED NIC Inc EGOV	$482K	﹤0.01%	24,967 -258	-1%	-$4.98K
1769	BTO 1769 John Hancock Financial Opportunities Fund BTO $731M	$481K	﹤0.01%	19,991 -2,474	-11%	-$59.5K
1770	1770 Global X MSCI Norway ETF NORW $56.8M	$481K	﹤0.01%	18,846 +360	+2%	+$9.19K
1771	MUH 1771 DELISTED Blackrock Muniholdings Fund II, Inc. MUH	$481K	﹤0.01%	33,258 -469	-1%	-$6.78K
1772	SIVB 1772 DELISTED SVB Financial Group SIVB	$481K	﹤0.01%	3,737 -84	-2%	-$10.8K
1773	1773 Carlisle Companies CSL $15.6B	$480K	﹤0.01%	6,046 -4,956	-45%	-$393K
1774	GDL 1774 GDL Fund GDL $96.4M	$480K	﹤0.01%	43,508 +9,837	+29%	+$109K
1775	LKM 1775 DELISTED Link Motion Inc. LKM	$480K	﹤0.01%	27,256 +11,115	+69%	+$196K