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 |
Vanguard Short-Term Inflation-Protected Securities Index Fund
VTIP
|
+$647M |
| 2 |
Vanguard Russell 1000 Value ETF
VONV
|
+$623M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$530M |
| 4 |
iShares Global Infrastructure ETF
IGF
|
+$434M |
| 5 |
iShares S&P 500 Value ETF
IVE
|
+$329M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$1.08B |
| 2 |
iShares MSCI EAFE Growth ETF
EFG
|
+$347M |
| 3 |
iShares Core S&P US Growth ETF
IUSG
|
+$307M |
| 4 |
iShares US Treasury Bond ETF
GOVT
|
+$229M |
| 5 |
iShares Core MSCI EAFE ETF
IEFA
|
+$195M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 7.41% |
| 2 | Financials | 3.81% |
| 3 | Healthcare | 2.68% |
| 4 | Consumer Discretionary | 2.67% |
| 5 | Industrials | 2.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.1B
| $219M | 0.09% |
7,481,610
+1,071,879
| +17% | +$31.2M |
|
|
DFUS
227
Dimensional US Equity ETF
DFUS
$20.7B
| $218M | 0.08% |
3,610,103
+1,188,511
| +49% | +$75.9M |
|
228
Goldman Sachs ActiveBeta International Equity ETF
GSIE
$6.04B
| $218M | 0.08% |
6,122,646
-765,940
| -11% | -$27M |
|
229
iShares Core MSCI Total International Stock ETF
IXUS
$58.4B
| $218M | 0.08% |
3,119,862
+185,380
| +6% | +$12.9M |
|
230
iShares Floating Rate Bond ETF
FLOT
$10.2B
| $218M | 0.08% |
4,265,149
+709,617
| +20% | +$36.2M |
|
231
iShares Select Dividend ETF
DVY
$23.6B
| $217M | 0.08% |
1,613,201
+16,803
| +1% | +$2.25M |
|
232
Southern Company
SO
$106B
| $216M | 0.08% |
2,351,902
+152,717
| +7% | +$13.2M |
|
233
Global X NASDAQ-100 Covered Call ETF
QYLD
$8.06B
| $212M | 0.08% |
12,759,474
+510,694
| +4% | +$9.16M |
|
234
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.4B
| $212M | 0.08% |
7,044,821
+1,379,249
| +24% | +$41.3M |
|
235
GE Aerospace
GE
$368B
| $210M | 0.08% |
1,048,943
+130,599
| +14% | +$25.7M |
|
236
Altria Group
MO
$113B
| $210M | 0.08% |
3,496,865
+368,076
| +12% | +$20.1M |
|
237
Vanguard Morningstar Small-Cap Growth ETF
VBK
$23.2B
| $208M | 0.08% |
827,794
+81,727
| +11% | +$22.6M |
|
238
State Street SPDR S&P 600 Small Cap Growth ETF
SLYG
$5.08B
| $208M | 0.08% |
2,503,284
+235,593
| +10% | +$21M |
|
239
Franklin International Low Volatility High Dividend Index ETF
LVHI
$5.39B
| $207M | 0.08% |
6,396,666
+2,322,696
| +57% | +$73.6M |
|
240
Vanguard Morningstar Large-Cap ETF
VV
$52.1B
| $206M | 0.08% |
799,861
+20,638
| +3% | +$5.59M |
|
241
Dimensional World ex US Core Equity 2 ETF
DFAX
$11.9B
| $205M | 0.08% |
7,838,369
+262,683
| +3% | +$6.82M |
|
242
Accenture
ACN
$99.9B
| $205M | 0.08% |
657,404
+64,894
| +11% | +$22.9M |
|
243
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$15B
| $204M | 0.08% |
2,246,432
+508,518
| +29% | +$46M |
|
244
Vanguard Health Care ETF
VHT
$18.3B
| $201M | 0.08% |
758,905
+15,276
| +2% | +$4.07M |
|
245
Bristol-Myers Squibb
BMY
$132B
| $199M | 0.08% |
3,268,554
-122,853
| -4% | -$7.16M |
|
246
Avantis US Equity ETF
AVUS
$13.9B
| $199M | 0.08% |
2,149,684
+727,153
| +51% | +$70.9M |
|
247
Walt Disney
DIS
$167B
| $198M | 0.08% |
2,009,286
+97,564
| +5% | +$10.5M |
|
248
Automatic Data Processing
ADP
$105B
| $197M | 0.08% |
645,214
+44,189
| +7% | +$13.3M |
|
249
Waste Management
WM
$90.9B
| $196M | 0.08% |
846,443
-29,343
| -3% | -$6.5M |
|
250
FT Vest Fund of Deep Buffer ETFs
BUFD
$1.94B
| $196M | 0.08% |
7,846,867
+1,598,775
| +26% | +$40.9M |
|
Similar funds
LPL Financial's Q1 2025 Portfolio in Review
As of Q1 2025, LPL Financial held 5,580 positions worth $257B, up 4.5% from $246B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $18.1B of net new capital in Q1 2025, opening 307 new positions and adding to 3,292 existing holdings. Its largest new stake was iShares High Yield Muni Active ETF: 1,729,238 shares worth $85.6M.
By sector, the portfolio is most concentrated in Technology at 7.4% of assets, down from 8.3% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was iShares Core S&P Mid-Cap ETF, an estimated $1.08B trimmed.
- LPL Financial's largest Q1 2025 buy was iShares High Yield Muni Active ETF: 1,729,238 shares worth $85.6M.
- LPL Financial added most to Vanguard Short-Term Inflation-Protected Securities Index Fund in Q1 2025, an estimated $647M increase.
- LPL Financial's biggest Q1 2025 reduction was iShares Core S&P Mid-Cap ETF, cutting an estimated $1.08B.
- LPL Financial fully exited Aspen Technology Inc in Q1 2025, selling an estimated $6.48M.
- LPL Financial's ten largest holdings make up 15% of its $257B portfolio in Q1 2025.
- LPL Financial opened 307 new positions and closed 235 in Q1 2025.
- LPL Financial's portfolio value rose 4.5% quarter-over-quarter to $257B.
Based on LPL Financial's 13F filing for Q1 2025, filed 7 May 2025.