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 | |
|---|---|---|---|---|---|---|
1976
Harbor Ares Systematic High Yield ETF
SIHY
$149M
| $7.48M | ﹤0.01% |
162,334
-1,400
| -0.9% | -$62.7K |
|
1977
Trex
TREX
$4.56B
| $7.47M | ﹤0.01% |
137,313
+11,286
| +9% | +$640K |
|
1978
iShares Global Comm Services ETF
IXP
$520M
| $7.43M | ﹤0.01% |
66,129
+8,532
| +15% | +$868K |
|
1979
JPMorgan ActiveBuilders Emerging Markets Equity ETF
JEMA
$1.6B
| $7.42M | ﹤0.01% |
172,414
+6,960
| +4% | +$276K |
|
1980
Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
PDN
$356M
| $7.41M | ﹤0.01% |
190,463
+173,415
| +1,017% | +$6.21M |
|
1981
Mitsubishi UFJ Financial
MUFG
$254B
| $7.4M | ﹤0.01% |
539,591
+81,360
| +18% | +$1.05M |
|
1982
Lantheus
LNTH
$6.58B
| $7.4M | ﹤0.01% |
90,422
+41,785
| +86% | +$3.67M |
|
1983
iShares iBonds Dec 2029 Term Treasury ETF
IBTJ
$1.31B
| $7.39M | ﹤0.01% |
337,280
+39,524
| +13% | +$860K |
|
1984
Kayne Anderson Energy Infrastructure Fund
KYN
$2.45B
| $7.39M | ﹤0.01% |
580,792
+256,905
| +79% | +$3.1M |
|
1985
SPS Commerce
SPSC
$2.42B
| $7.38M | ﹤0.01% |
54,230
+4,215
| +8% | +$584K |
|
1986
Neuberger Small-Mid Cap ETF
NBSM
$115M
| $7.38M | ﹤0.01% |
294,669
+186,748
| +173% | +$4.47M |
|
1987
American Conservative Values ETF
ACVF
$150M
| $7.37M | ﹤0.01% |
156,380
+51,245
| +49% | +$2.25M |
|
1988
Manhattan Associates
MANH
$11.1B
| $7.37M | ﹤0.01% |
37,342
+359
| +1% | +$65.2K |
|
1989
Leonardo DRS
DRS
$12.2B
| $7.36M | ﹤0.01% |
158,321
+22,508
| +17% | +$904K |
|
1990
Global X Autonomous & Electric Vehicles ETF
DRIV
$377M
| $7.35M | ﹤0.01% |
315,471
+33,593
| +12% | +$722K |
|
1991
BlackRock Credit Allocation Income Trust
BTZ
$935M
| $7.34M | ﹤0.01% |
671,953
-281,679
| -30% | -$2.97M |
|
1992
Prestige Consumer Healthcare
PBH
$2.37B
| $7.33M | ﹤0.01% |
91,760
+58,252
| +174% | +$4.87M |
|
1993
Wintrust Financial
WTFC
$10.8B
| $7.32M | ﹤0.01% |
59,072
+18,852
| +47% | +$2.16M |
|
1994
GitLab
GTLB
$5.7B
| $7.32M | ﹤0.01% |
162,348
+39,539
| +32% | +$1.81M |
|
1995
FlexShares Morningstar US Market Factors Tilt Index Fund
TILT
$2.18B
| $7.31M | ﹤0.01% |
32,637
-1,204
| -4% | -$251K |
|
1996
Penumbra
PEN
$12.6B
| $7.31M | ﹤0.01% |
28,484
+3,076
| +12% | +$837K |
|
1997
FT Vest US Equity Buffer ETF December
FDEC
$1.32B
| $7.3M | ﹤0.01% |
156,526
+29,820
| +24% | +$1.31M |
|
|
PR
1998
Permian Resources
PR
$17.6B
| $7.3M | ﹤0.01% |
536,132
+135,946
| +34% | +$1.75M |
|
1999
BlackRock Debt Strategies Fund
DSU
$591M
| $7.3M | ﹤0.01% |
691,437
+138,463
| +25% | +$1.43M |
|
2000
Powell Industries
POWL
$7.63B
| $7.3M | ﹤0.01% |
104,010
-3,144
| -3% | -$190K |
|
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.