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 | |
|---|---|---|---|---|---|---|
201
iShares Russell Mid-Cap ETF
IWR
$56.8B
| $280M | 0.09% |
3,049,642
+57,050
| +2% | +$4.93M |
|
202
Vanguard Small-Cap Value ETF
VBR
$37.1B
| $280M | 0.09% |
1,436,793
+46,966
| +3% | +$8.69M |
|
203
FT Vest S&P 500 Dividend Aristocrats Target Income ETF
KNG
$3.4B
| $280M | 0.09% |
5,704,698
+680,959
| +14% | +$33.1M |
|
204
Amgen
AMGN
$203B
| $279M | 0.09% |
1,000,861
+96,983
| +11% | +$27.5M |
|
205
Union Pacific
UNP
$183B
| $279M | 0.09% |
1,213,091
+40,082
| +3% | +$8.9M |
|
206
FT Vest Fund of Nasdaq-100 Buffer ETFs
BUFQ
$1.49B
| $278M | 0.09% |
8,366,453
+501,417
| +6% | +$15.5M |
|
207
Pfizer
PFE
$140B
| $278M | 0.09% |
11,451,523
+940,757
| +9% | +$21.9M |
|
208
First Trust Smith Unconstrained Bond ETF
UCON
$3.26B
| $277M | 0.09% |
11,116,589
-1,299,723
| -10% | -$32.1M |
|
209
JPMorgan US Quality Factor ETF
JQUA
$8.11B
| $276M | 0.09% |
4,589,457
+201,298
| +5% | +$11.5M |
|
210
First Trust RBA American Industrial Renaissance ETF
AIRR
$10.5B
| $275M | 0.09% |
3,382,662
+27,720
| +0.8% | +$2.04M |
|
211
Capital Group US Multi-Sector Income ETF
CGMS
$5.17B
| $275M | 0.09% |
9,943,155
+1,768,047
| +22% | +$47.9M |
|
212
iShares Core MSCI Total International Stock ETF
IXUS
$57.5B
| $269M | 0.09% |
3,473,429
+353,567
| +11% | +$25.8M |
|
213
WisdomTree US LargeCap Dividend Fund
DLN
$6.24B
| $267M | 0.09% |
3,249,447
-210,059
| -6% | -$16.4M |
|
214
Walt Disney
DIS
$165B
| $266M | 0.09% |
2,142,570
+133,284
| +7% | +$13.8M |
|
215
Strategy Inc
MSTR
$33.5B
| $263M | 0.09% |
651,203
+26,044
| +4% | +$9.49M |
|
216
Intuitive Surgical
ISRG
$121B
| $263M | 0.09% |
483,531
-2,907
| -0.6% | -$1.52M |
|
217
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.7B
| $262M | 0.09% |
3,298,808
+61,192
| +2% | +$4.82M |
|
218
Merck
MRK
$324B
| $262M | 0.09% |
3,312,117
+74,599
| +2% | +$5.93M |
|
219
First Trust Dorsey Wright Focus 5 ETF
FV
$3.61B
| $262M | 0.09% |
4,417,821
-47,130
| -1% | -$2.62M |
|
220
Abbott
ABT
$180B
| $260M | 0.09% |
1,908,654
+131,772
| +7% | +$17.4M |
|
221
John Hancock Multifactor Mid Cap ETF
JHMM
$5.89B
| $258M | 0.09% |
4,220,689
-2,610
| -0.1% | -$150K |
|
222
iShares Silver Trust
SLV
$28.1B
| $258M | 0.09% |
7,860,582
+28,212
| +0.4% | +$863K |
|
223
Franklin International Low Volatility High Dividend Index ETF
LVHI
$5.3B
| $258M | 0.09% |
7,923,349
+1,526,683
| +24% | +$49M |
|
224
Fidelity Total Bond ETF
FBND
$27.1B
| $256M | 0.09% |
5,601,181
+1,367,235
| +32% | +$61.9M |
|
225
NextEra Energy
NEE
$187B
| $256M | 0.09% |
3,684,376
+311,139
| +9% | +$21.6M |
|
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.