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 | |
|---|---|---|---|---|---|---|
2001
RB Global
RBA
$20.5B
| $7.29M | ﹤0.01% |
68,689
-1,897
| -3% | -$194K |
|
2002
UBS Group
UBS
$175B
| $7.28M | ﹤0.01% |
215,150
-11,096
| -5% | -$343K |
|
2003
AdvisorShares Focused Equity ETF
CWS
$132M
| $7.26M | ﹤0.01% |
103,776
+15,273
| +17% | +$1.01M |
|
|
ETG
2004
Eaton Vance Tax-Advantaged Global Dividend Income Fund
ETG
$1.8B
| $7.26M | ﹤0.01% |
346,647
+14,186
| +4% | +$272K |
|
2005
Imperial Oil
IMO
$62.3B
| $7.25M | ﹤0.01% |
91,183
+11,491
| +14% | +$821K |
|
2006
Innovator US Equity Power Buffer ETF March
PMAR
$758M
| $7.24M | ﹤0.01% |
171,387
+11,517
| +7% | +$465K |
|
2007
Antero Midstream
AM
$10.2B
| $7.22M | ﹤0.01% |
381,027
+25,782
| +7% | +$461K |
|
2008
Lincoln Electric
LECO
$13.7B
| $7.21M | ﹤0.01% |
34,788
+1,785
| +5% | +$341K |
|
2009
iShares MSCI United Kingdom ETF
EWU
$4.17B
| $7.21M | ﹤0.01% |
181,525
-16,257
| -8% | -$625K |
|
|
P
2010
Everpure Inc
P
$25B
| $7.2M | ﹤0.01% |
125,097
+6,729
| +6% | +$335K |
|
|
BTO
2011
John Hancock Financial Opportunities Fund
BTO
$806M
| $7.2M | ﹤0.01% |
203,311
-6,981
| -3% | -$230K |
|
2012
The Ensign Group
ENSG
$10.4B
| $7.2M | ﹤0.01% |
46,658
+8,087
| +21% | +$1.13M |
|
2013
Insmed
INSM
$22B
| $7.19M | ﹤0.01% |
71,412
+20,199
| +39% | +$1.54M |
|
2014
Xtrackers US National Critical Technologies ETF
CRTC
$133M
| $7.18M | ﹤0.01% |
211,211
+121,660
| +136% | +$3.77M |
|
2015
Federal Realty Investment Trust
FRT
$10.7B
| $7.15M | ﹤0.01% |
75,267
-3,590
| -5% | -$339K |
|
2016
Main Thematic Innovation ETF
TMAT
$229M
| $7.14M | ﹤0.01% |
305,969
+150,189
| +96% | +$2.97M |
|
2017
Stanley Black & Decker
SWK
$14.9B
| $7.13M | ﹤0.01% |
105,276
+7,397
| +8% | +$477K |
|
2018
VanEck Short High Yield Muni ETF
SHYD
$451M
| $7.09M | ﹤0.01% |
314,047
-5,800
| -2% | -$130K |
|
2019
Canadian Natural Resources
CNQ
$98.6B
| $7.08M | ﹤0.01% |
225,626
+63,979
| +40% | +$1.94M |
|
2020
Vodafone
VOD
$37.2B
| $7.07M | ﹤0.01% |
663,639
+74,600
| +13% | +$722K |
|
2021
WisdomTree Global High Dividend Fund
DEW
$148M
| $7.05M | ﹤0.01% |
123,376
-1,159
| -0.9% | -$64.3K |
|
2022
iShares JPMorgan EM High Yield Bond ETF
EMHY
$619M
| $7.03M | ﹤0.01% |
180,316
-82,279
| -31% | -$3.12M |
|
|
CHW
2023
Calamos Global Dynamic Income Fund
CHW
$523M
| $7.02M | ﹤0.01% |
984,846
+26,219
| +3% | +$172K |
|
2024
Innovator US Equity Buffer ETF April
BAPR
$405M
| $7.02M | ﹤0.01% |
155,282
+15,495
| +11% | +$666K |
|
2025
Invesco S&P 500 Equal Weight Financials ETF
RSPF
$307M
| $7.01M | ﹤0.01% |
92,116
+1,437
| +2% | +$103K |
|
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.