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 | |
|---|---|---|---|---|---|---|
|
IBTF
551
DELISTED
iShares iBonds Dec 2025 Term Treasury ETF
IBTF
| $70.3M | 0.03% |
3,008,101
+678,517
| +29% | +$15.8M |
|
552
Invesco BulletShares 2029 Corporate Bond ETF
BSCT
$2.91B
| $69.5M | 0.03% |
3,751,130
+762,319
| +26% | +$14M |
|
553
State Street SPDR S&P 1500 Value Tilt ETF
VLU
$752M
| $69.4M | 0.03% |
377,365
+27,453
| +8% | +$5.16M |
|
554
PIMCO Dynamic Income Fund
PDI
$7.39B
| $69.3M | 0.03% |
3,502,382
+601,535
| +21% | +$11.7M |
|
555
Grayscale Bitcoin Trust
GBTC
$9.45B
| $69.2M | 0.03% |
1,062,605
-58,851
| -5% | -$4.34M |
|
556
State Street Ultra Short Term Bond ETF
ULST
$527M
| $68.9M | 0.03% |
1,695,009
+569,720
| +51% | +$23.1M |
|
557
PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund
CORP
$1.57B
| $68.8M | 0.03% |
711,006
+63,455
| +10% | +$6.08M |
|
558
First Trust Long Duration Opportunities ETF
LGOV
$617M
| $68.7M | 0.03% |
3,194,436
+268,657
| +9% | +$5.67M |
|
559
Cintas
CTAS
$81.9B
| $68.4M | 0.03% |
332,615
+13,356
| +4% | +$2.66M |
|
560
Cigna
CI
$73.8B
| $68.1M | 0.03% |
207,026
+25,588
| +14% | +$7.71M |
|
561
WisdomTree US Quality Growth Fund
QGRW
$2.74B
| $68.1M | 0.03% |
1,550,623
+294,595
| +23% | +$14.2M |
|
562
iShares Broad USD Investment Grade Corporate Bond ETF
USIG
$17.3B
| $67.9M | 0.03% |
1,329,714
+169,316
| +15% | +$8.58M |
|
563
Invesco S&P MidCap 400 Revenue ETF
RWK
$1.31B
| $67.9M | 0.03% |
629,256
+71,796
| +13% | +$8.34M |
|
564
VanEck CLO ETF
CLOI
$1.49B
| $67.8M | 0.03% |
1,283,259
+427,476
| +50% | +$22.6M |
|
565
GE Vernova
GEV
$264B
| $67.6M | 0.03% |
221,399
+20,378
| +10% | +$7.11M |
|
566
WisdomTree US LargeCap Fund
EPS
$1.59B
| $67.1M | 0.03% |
1,131,261
+50,208
| +5% | +$3.11M |
|
567
WisdomTree India Earnings Fund ETF
EPI
$2.06B
| $67.1M | 0.03% |
1,534,082
-18,931
| -1% | -$812K |
|
568
iShares MSCI EAFE Min Vol Factor ETF
EFAV
$5.34B
| $66.9M | 0.03% |
858,033
-82,891
| -9% | -$6.19M |
|
569
PUT
Invesco QQQ Trust
QQQ
$453B
| $66.7M | 0.03% |
142,300
-91,100
| -39% | -$46.3M |
|
570
State Street SPDR Russell 1000 Yield Focus ETF
ONEY
$677M
| $66.5M | 0.03% |
608,659
-10,592
| -2% | -$1.17M |
|
571
First Trust Large Cap Value AlphaDEX Fund
FTA
$1.39B
| $66.3M | 0.03% |
864,647
+15,758
| +2% | +$1.22M |
|
572
Booking.com
BKNG
$149B
| $66.3M | 0.03% |
359,800
+26,725
| +8% | +$5.11M |
|
573
EOG Resources
EOG
$79.2B
| $66M | 0.03% |
514,736
+50,055
| +11% | +$6.44M |
|
574
First Trust Technology AlphaDEX Fund
FXL
$2.53B
| $65.6M | 0.03% |
495,987
+3,364
| +0.7% | +$498K |
|
575
FT Vest Laddered Moderate Buffer ETF
BUFZ
$1.01B
| $65.4M | 0.03% |
2,783,365
+797,448
| +40% | +$19.1M |
|
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.