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 | |
|---|---|---|---|---|---|---|
2201
State Street SPDR FactSet Innovative Technology ETF
XITK
$69M
| $5.71M | ﹤0.01% |
30,146
+1,827
| +6% | +$312K |
|
2202
CALL
NVIDIA
NVDA
$4.75T
| $5.69M | ﹤0.01% |
36,000
-3,000
| -8% | -$378K |
|
2203
Bright Horizons
BFAM
$4.04B
| $5.68M | ﹤0.01% |
45,948
-839
| -2% | -$103K |
|
2204
Trimble
TRMB
$13.2B
| $5.67M | ﹤0.01% |
74,597
+5,668
| +8% | +$381K |
|
2205
JPMorgan High Yield Municipal ETF
JMHI
$277M
| $5.65M | ﹤0.01% |
113,471
-21,167
| -16% | -$1.05M |
|
2206
GMO US Quality ETF
QLTY
$4.84B
| $5.64M | ﹤0.01% |
164,673
+29,209
| +22% | +$926K |
|
2207
Modine Manufacturing
MOD
$10.7B
| $5.64M | ﹤0.01% |
57,233
-915
| -2% | -$81.7K |
|
2208
Invesco Solar ETF
TAN
$1.41B
| $5.63M | ﹤0.01% |
164,336
-25,604
| -13% | -$804K |
|
2209
iShares US Digital Infrastructure and Real Estate ETF
IDGT
$476M
| $5.63M | ﹤0.01% |
67,809
+3,633
| +6% | +$280K |
|
2210
Crane Co
CR
$12.4B
| $5.61M | ﹤0.01% |
29,566
+2,046
| +7% | +$340K |
|
2211
FT Vest Growth-100 Buffer ETF March
QMAR
$562M
| $5.59M | ﹤0.01% |
180,251
+101,350
| +128% | +$2.96M |
|
2212
STAG Industrial
STAG
$7.37B
| $5.58M | ﹤0.01% |
153,870
+7,561
| +5% | +$261K |
|
2213
Rambus
RMBS
$9.94B
| $5.58M | ﹤0.01% |
87,183
+7,167
| +9% | +$384K |
|
2214
iShares Currency Hedged MSCI EAFE Small-Cap ETF
HSCZ
$238M
| $5.58M | ﹤0.01% |
156,905
-136,134
| -46% | -$4.52M |
|
2215
Estee Lauder
EL
$30.5B
| $5.57M | ﹤0.01% |
68,988
+4,485
| +7% | +$289K |
|
2216
iShares Micro-Cap ETF
IWC
$1.43B
| $5.57M | ﹤0.01% |
43,594
-8,006
| -16% | -$926K |
|
2217
VanEck JP Morgan EM Local Currency Bond ETF
EMLC
$4.79B
| $5.56M | ﹤0.01% |
219,299
+113,535
| +107% | +$2.78M |
|
2218
Global X Alternative Income ETF
ALTY
$45.6M
| $5.55M | ﹤0.01% |
475,761
+72,268
| +18% | +$824K |
|
2219
Nuveen ESG International Developed Markets Equity ETF
NUDM
$704M
| $5.54M | ﹤0.01% |
156,182
+9,720
| +7% | +$324K |
|
2220
TransUnion
TRU
$15B
| $5.54M | ﹤0.01% |
62,982
+4,821
| +8% | +$402K |
|
2221
VF Corp
VFC
$5.68B
| $5.52M | ﹤0.01% |
469,840
+286,663
| +156% | +$3.55M |
|
2222
Advanced Drainage Systems
WMS
$10.6B
| $5.5M | ﹤0.01% |
47,914
+29,341
| +158% | +$3.29M |
|
2223
Putnam Focused Large Cap Value ETF
PVAL
$13B
| $5.49M | ﹤0.01% |
136,530
+3,534
| +3% | +$133K |
|
|
DFP
2224
Flaherty & Crumrine Dynamic Preferred and Income Fund
DFP
$426M
| $5.49M | ﹤0.01% |
267,453
-14,595
| -5% | -$291K |
|
2225
State Street SPDR S&P Oil & Gas Equipment & Services ETF
XES
$370M
| $5.49M | ﹤0.01% |
86,484
+32,764
| +61% | +$2.02M |
|
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.