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 | |
|---|---|---|---|---|---|---|
501
Capital Group Municipal Income ETF
CGMU
$6.36B
| $80.1M | 0.03% |
2,984,823
+517,925
| +21% | +$14M |
|
502
VanEck Merk Gold Trust
OUNZ
$2.51B
| $80M | 0.03% |
2,655,747
+886,741
| +50% | +$24.5M |
|
503
First Trust Core Investment Grade ETF
FTCB
$2.52B
| $79.5M | 0.03% |
3,786,283
+1,634,458
| +76% | +$34M |
|
504
iShares AAA-A Rated Corporate Bond ETF
QLTA
$1.24B
| $79.4M | 0.03% |
1,670,175
+160,353
| +11% | +$7.56M |
|
505
iShares Convertible Bond ETF
ICVT
$7.2B
| $79.3M | 0.03% |
948,047
+2,707
| +0.3% | +$234K |
|
506
iShares ESG Aware US Aggregate Bond ETF
EAGG
$4.96B
| $79.2M | 0.03% |
1,668,691
+93,692
| +6% | +$4.39M |
|
507
Ares Capital
ARCC
$13.5B
| $79.1M | 0.03% |
3,567,816
+293,442
| +9% | +$6.66M |
|
|
MRSH
508
Marsh
MRSH
$90.5B
| $78.7M | 0.03% |
324,035
+29,247
| +10% | +$6.64M |
|
509
Arthur J. Gallagher & Co
AJG
$64.1B
| $77.8M | 0.03% |
225,382
+42,912
| +24% | +$13.6M |
|
510
iShares MSCI China ETF
MCHI
$6.32B
| $77.6M | 0.03% |
1,426,513
+25,210
| +2% | +$1.3M |
|
511
KLA
KLAC
$239B
| $77.6M | 0.03% |
1,140,830
+180,950
| +19% | +$13M |
|
512
Elevance Health
ELV
$81.5B
| $77.4M | 0.03% |
177,911
+702
| +0.4% | +$282K |
|
513
FS KKR Capital
FSK
$2.96B
| $77.1M | 0.03% |
3,682,289
+98,647
| +3% | +$2.21M |
|
514
First Trust Financials AlphaDEX Fund
FXO
$1.13B
| $77M | 0.03% |
1,452,909
-12,351
| -0.8% | -$676K |
|
515
Dimensional International Core Equity 2 ETF
DFIC
$14.8B
| $77M | 0.03% |
2,771,687
+376,397
| +16% | +$10.3M |
|
516
Eaton Vance Total Return Bond ETF
EVTR
$5.61B
| $76.4M | 0.03% |
1,509,784
+412,114
| +38% | +$20.7M |
|
517
Invesco Dividend Achievers ETF
PFM
$791M
| $76.2M | 0.03% |
1,664,500
+67,993
| +4% | +$3.18M |
|
518
KKR & Co
KKR
$91.1B
| $75.9M | 0.03% |
656,650
-45,550
| -6% | -$6.27M |
|
519
iShares MSCI Global Min Vol Factor ETF
ACWV
$3.32B
| $75.8M | 0.03% |
651,556
-1,940
| -0.3% | -$219K |
|
520
State Street SPDR S&P Regional Banking ETF
KRE
$4.5B
| $75.8M | 0.03% |
1,332,493
-136,656
| -9% | -$8.3M |
|
521
Sherwin-Williams
SHW
$82.7B
| $75.7M | 0.03% |
217,958
+16,389
| +8% | +$5.75M |
|
522
Franklin Dynamic Municipal Bond ETF
FLMI
$2.29B
| $75.4M | 0.03% |
3,084,460
+493,257
| +19% | +$12.1M |
|
523
Synopsys
SNPS
$74.4B
| $75.3M | 0.03% |
176,628
+46,661
| +36% | +$22.7M |
|
524
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.09B
| $75.3M | 0.03% |
2,985,429
+303,452
| +11% | +$7.78M |
|
525
Consolidated Edison
ED
$40.1B
| $75M | 0.03% |
678,198
-5,402
| -0.8% | -$530K |
|
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.