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 | |
|---|---|---|---|---|---|---|
2051
Woodward
WWD
$21.2B
| $6.83M | ﹤0.01% |
27,856
-787
| -3% | -$161K |
|
2052
Global X Video Games & Esports ETF
HERO
$66.8M
| $6.83M | ﹤0.01% |
208,583
+53,525
| +35% | +$1.53M |
|
2053
Avantis Short-Term Fixed Income ETF
AVSF
$654M
| $6.82M | ﹤0.01% |
144,943
+7,696
| +6% | +$359K |
|
2054
Invesco BulletShares 2031 Municipal Bond ETF
BSMV
$186M
| $6.82M | ﹤0.01% |
330,576
-11,235
| -3% | -$230K |
|
2055
Align Technology
ALGN
$12.4B
| $6.81M | ﹤0.01% |
35,990
+4,761
| +15% | +$841K |
|
2056
Franklin FTSE India ETF
FLIN
$2.76B
| $6.8M | ﹤0.01% |
170,826
+17,921
| +12% | +$685K |
|
2057
MidCap Financial Investment
MFIC
$796M
| $6.8M | ﹤0.01% |
538,467
-23,670
| -4% | -$290K |
|
|
JPUS
2058
JPMorgan Diversified Return US Equity ETF
JPUS
$459M
| $6.78M | ﹤0.01% |
57,402
+22,857
| +66% | +$2.6M |
|
|
SF
2059
Stifel
SF
$12.5B
| $6.78M | ﹤0.01% |
97,968
+3,987
| +4% | +$245K |
|
2060
Inspire Small/Mid Cap Impact ETF
ISMD
$333M
| $6.77M | ﹤0.01% |
190,458
+15,864
| +9% | +$533K |
|
2061
FT Vest US Equity Buffer ETF October
FOCT
$1.16B
| $6.76M | ﹤0.01% |
151,066
+86,743
| +135% | +$3.66M |
|
|
IMVP
2062
Invesco India ETF
IMVP
$125M
| $6.76M | ﹤0.01% |
250,651
+39,359
| +19% | +$1.02M |
|
2063
iShares USD Green Bond ETF
BGRN
$497M
| $6.74M | ﹤0.01% |
141,492
+21,836
| +18% | +$1.03M |
|
2064
iShares iBonds Dec 2028 Term Muni Bond ETF
IBMQ
$657M
| $6.74M | ﹤0.01% |
265,242
+6,311
| +2% | +$159K |
|
2065
Pan American Silver
PAAS
$18.6B
| $6.74M | ﹤0.01% |
237,194
+29,470
| +14% | +$763K |
|
2066
Chewy
CHWY
$9.34B
| $6.73M | ﹤0.01% |
157,941
+23,454
| +17% | +$934K |
|
2067
iShares New York Muni Bond ETF
NYF
$1.38B
| $6.73M | ﹤0.01% |
129,081
+10,189
| +9% | +$530K |
|
|
ACV
2068
Virtus Diversified Income & Convertible Fund
ACV
$277M
| $6.73M | ﹤0.01% |
294,007
+9,489
| +3% | +$199K |
|
2069
Kyndryl
KD
$2.98B
| $6.72M | ﹤0.01% |
160,139
+32,152
| +25% | +$1.16M |
|
2070
Invesco Dorsey Wright Developed Markets Momentum ETF
PIZ
$719M
| $6.72M | ﹤0.01% |
146,147
+62,880
| +76% | +$2.66M |
|
2071
Graco
GGG
$13B
| $6.71M | ﹤0.01% |
78,011
+3,482
| +5% | +$289K |
|
2072
iShares Russell Top 200 Value ETF
IWX
$3.96B
| $6.69M | ﹤0.01% |
79,514
-545,315
| -87% | -$43.9M |
|
2073
Fox Class A
FOXA
$24.7B
| $6.69M | ﹤0.01% |
119,410
+26,748
| +29% | +$1.41M |
|
2074
VictoryShares Dividend Accelerator ETF
VSDA
$246M
| $6.68M | ﹤0.01% |
129,037
-20,837
| -14% | -$1.04M |
|
2075
State Street SPDR MSCI Emerging Markets StrategicFactors ETF
QEMM
$54M
| $6.68M | ﹤0.01% |
106,021
-3,667
| -3% | -$218K |
|
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.