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 | |
|---|---|---|---|---|---|---|
2326
Ingredion
INGR
$6.27B
| $4.91M | ﹤0.01% |
36,176
+2,046
| +6% | +$276K |
|
2327
Schwab International Small-Cap Equity ETF
SCHC
$5.39B
| $4.91M | ﹤0.01% |
115,195
+3,841
| +3% | +$149K |
|
2328
American Airlines Group
AAL
$10.1B
| $4.9M | ﹤0.01% |
436,718
+65,778
| +18% | +$704K |
|
2329
AAM S&P 500 High Dividend Value ETF
SPDV
$101M
| $4.9M | ﹤0.01% |
151,038
+2,789
| +2% | +$86.9K |
|
2330
Invesco BulletShares 2029 Municipal Bond ETF
BSMT
$281M
| $4.89M | ﹤0.01% |
215,478
+2,062
| +1% | +$46.6K |
|
|
FCT
2331
First Trust Senior Floating Rate Income Fund II
FCT
$251M
| $4.89M | ﹤0.01% |
481,395
-16,213
| -3% | -$160K |
|
2332
Otter Tail
OTTR
$3.71B
| $4.88M | ﹤0.01% |
63,344
+2,769
| +5% | +$216K |
|
2333
CubeSmart
CUBE
$9.39B
| $4.88M | ﹤0.01% |
114,846
-11,726
| -9% | -$486K |
|
2334
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.19B
| $4.88M | ﹤0.01% |
470,651
+95,527
| +25% | +$991K |
|
2335
Loews
L
$23.9B
| $4.87M | ﹤0.01% |
53,159
+3,500
| +7% | +$307K |
|
|
MILN
2336
Global X Millennial Consumer ETF
MILN
$99.9M
| $4.85M | ﹤0.01% |
99,448
+7,422
| +8% | +$332K |
|
2337
InfraCap MLP ETF
AMZA
$470M
| $4.85M | ﹤0.01% |
111,942
+25,310
| +29% | +$1.08M |
|
2338
Upstart Holdings
UPST
$2.63B
| $4.85M | ﹤0.01% |
74,977
-18,653
| -20% | -$915K |
|
2339
Nuveen California Quality Municipal Income Fund
NAC
$1.83B
| $4.85M | ﹤0.01% |
434,012
+71,621
| +20% | +$781K |
|
|
CADE
2340
DELISTED
Cadence Bank
CADE
| $4.84M | ﹤0.01% |
151,473
+1,071
| +0.7% | +$32.1K |
|
|
RIFR
2341
Russell Investments Global Infrastructure ETF
RIFR
$43.3M
| $4.84M | ﹤0.01% |
+192,034
| New | +$4.78M |
|
2342
Planet Fitness
PLNT
$4.42B
| $4.81M | ﹤0.01% |
44,101
-6,789
| -13% | -$680K |
|
|
QHY
2343
WisdomTree U.S. High Yield Corporate Bond Fund
QHY
$237M
| $4.81M | ﹤0.01% |
104,259
+623
| +0.6% | +$28.1K |
|
|
TYG
2344
Tortoise Energy Infrastructure Corp
TYG
$1.09B
| $4.8M | ﹤0.01% |
109,377
+8,006
| +8% | +$324K |
|
|
JBTM
2345
JBT Marel
JBTM
$7.21B
| $4.8M | ﹤0.01% |
39,881
+3,541
| +10% | +$396K |
|
2346
ARK Space & Defense Innovation ETF
ARKX
$793M
| $4.78M | ﹤0.01% |
197,974
+21,076
| +12% | +$421K |
|
2347
ATI
ATI
$25.6B
| $4.78M | ﹤0.01% |
55,382
-1,426
| -3% | -$97.6K |
|
2348
PUT
Truist Financial
TFC
$63.3B
| $4.78M | ﹤0.01% |
111,200
+55,700
| +100% | +$2.18M |
|
2349
Nexstar Media Group
NXST
$5.82B
| $4.77M | ﹤0.01% |
27,568
-1,368
| -5% | -$224K |
|
2350
Installed Building Products
IBP
$6.01B
| $4.74M | ﹤0.01% |
26,296
+2,524
| +11% | +$420K |
|
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.