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 | |
|---|---|---|---|---|---|---|
401
Analog Devices
ADI
$180B
| $106M | 0.04% |
528,072
+52,416
| +11% | +$11.3M |
|
402
Phillips 66
PSX
$84.3B
| $106M | 0.04% |
861,772
+127,288
| +17% | +$15.7M |
|
403
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.05B
| $106M | 0.04% |
1,113,988
-347,140
| -24% | -$33.4M |
|
404
Aflac
AFL
$64.6B
| $106M | 0.04% |
953,625
+9,024
| +1% | +$957K |
|
|
SCHW
405
Charles Schwab
SCHW
$182B
| $106M | 0.04% |
1,348,392
+89,882
| +7% | +$7.05M |
|
|
VPU
406
Vanguard Utilities ETF
VPU
$8.52B
| $105M | 0.04% |
617,370
-49,754
| -7% | -$8.4M |
|
407
iShares MSCI Emerging Markets ETF
EEM
$28.8B
| $105M | 0.04% |
2,410,997
-20,420
| -0.8% | -$887K |
|
408
Vertex Pharmaceuticals
VRTX
$120B
| $105M | 0.04% |
216,944
+25,891
| +14% | +$12.1M |
|
409
iShares Expanded Tech Sector ETF
IGM
$9.95B
| $105M | 0.04% |
1,158,943
-2,282
| -0.2% | -$230K |
|
410
McKesson
MCK
$100B
| $105M | 0.04% |
155,946
+17,750
| +13% | +$11M |
|
411
Mondelez International
MDLZ
$80.1B
| $105M | 0.04% |
1,546,369
+24,616
| +2% | +$1.52M |
|
412
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23B
| $105M | 0.04% |
1,996,733
+92,987
| +5% | +$4.83M |
|
413
JPMorgan Global Select Equity ETF
JGLO
$6.87B
| $104M | 0.04% |
1,768,907
+76,556
| +5% | +$4.67M |
|
414
Vanguard S&P 500 Value ETF
VOOV
$6.56B
| $104M | 0.04% |
564,875
-13,335
| -2% | -$2.5M |
|
415
Invesco Variable Rate Investment Grade ETF
VRIG
$1.8B
| $104M | 0.04% |
4,139,340
+851,024
| +26% | +$21.4M |
|
416
iShares MSCI KLD 400 Social ETF
DSI
$5.25B
| $103M | 0.04% |
1,010,417
+4,703
| +0.5% | +$513K |
|
417
Invesco FTSE RAFI US 1000 ETF
PRF
$9.74B
| $103M | 0.04% |
2,549,791
+72,457
| +3% | +$2.99M |
|
418
iShares Ultra Short Duration Bond Active ETF
ICSH
$8.07B
| $103M | 0.04% |
2,026,708
+311,875
| +18% | +$15.8M |
|
419
Applied Materials
AMAT
$410B
| $103M | 0.04% |
706,696
+69,057
| +11% | +$11.6M |
|
420
Pacer Global Cash Cows Dividend ETF
GCOW
$3.39B
| $102M | 0.04% |
2,771,142
+317,745
| +13% | +$11.3M |
|
421
iShares US Healthcare ETF
IYH
$3.34B
| $101M | 0.04% |
1,663,845
+77,068
| +5% | +$4.71M |
|
422
Pacer Trendpilot 100 ETF
PTNQ
$1.2B
| $101M | 0.04% |
1,422,612
+78,831
| +6% | +$5.84M |
|
423
Main Sector Rotation ETF
SECT
$2.74B
| $101M | 0.04% |
1,970,173
+564,579
| +40% | +$31M |
|
424
First Trust Nasdaq-100 Select Equal Weight ETF
QQEW
$1.73B
| $100M | 0.04% |
829,119
-27,182
| -3% | -$3.48M |
|
425
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.4B
| $100M | 0.04% |
1,907,817
+289,875
| +18% | +$15.1M |
|
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.