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 | |
|---|---|---|---|---|---|---|
1451
BlackRock Taxable Municipal Bond Trust
BBN
$978M
| $12.5M | ﹤0.01% |
747,872
+63,200
| +9% | +$1.04M |
|
1452
Vanguard Russell 2000 Growth ETF
VTWG
$1.47B
| $12.5M | ﹤0.01% |
66,909
-406
| -0.6% | -$83.7K |
|
1453
Markel Group
MKL
$23.3B
| $12.4M | ﹤0.01% |
6,656
+492
| +8% | +$905K |
|
1454
State Street SPDR MSCI USA Gender Diversity ETF
SHE
$325M
| $12.4M | ﹤0.01% |
108,773
+4,058
| +4% | +$479K |
|
1455
DraftKings
DKNG
$11.6B
| $12.4M | ﹤0.01% |
373,475
-18,537
| -5% | -$761K |
|
1456
Invesco DB Commodity Index Tracking Fund
DBC
$1.69B
| $12.4M | ﹤0.01% |
549,632
-19,602
| -3% | -$434K |
|
1457
Invesco KBW High Dividend Yield Financial ETF
KBWD
$408M
| $12.4M | ﹤0.01% |
855,688
+114,298
| +15% | +$1.72M |
|
1458
argenx
ARGX
$53.4B
| $12.4M | ﹤0.01% |
20,880
+4,563
| +28% | +$2.88M |
|
1459
Plains All American Pipeline
PAA
$17.3B
| $12.3M | ﹤0.01% |
616,996
+171,559
| +39% | +$3.39M |
|
1460
Rocket Companies
RKT
$36.5B
| $12.3M | ﹤0.01% |
1,022,356
+113,883
| +13% | +$1.47M |
|
1461
Schwab US Aggregate Bond ETF
SCHZ
$10.5B
| $12.3M | ﹤0.01% |
531,858
-18,968
| -3% | -$434K |
|
1462
ActivePassive Core Bond ETF
APCB
$1.01B
| $12.3M | ﹤0.01% |
416,914
-8,994
| -2% | -$263K |
|
|
B
1463
Barrick Mining
B
$61.5B
| $12.3M | ﹤0.01% |
633,127
-23,580
| -4% | -$413K |
|
1464
State Street SPDR S&P Emerging Markets Small Cap ETF
EWX
$652M
| $12.3M | ﹤0.01% |
217,329
-124,873
| -36% | -$7.23M |
|
1465
iShares North American Natural Resources ETF
IGE
$741M
| $12.3M | ﹤0.01% |
269,858
-55,030
| -17% | -$2.45M |
|
1466
Innovator US Equity Power Buffer ETF September
PSEP
$846M
| $12.3M | ﹤0.01% |
319,067
+131,130
| +70% | +$5.15M |
|
1467
Steel Dynamics
STLD
$36B
| $12.3M | ﹤0.01% |
97,943
-1,474
| -1% | -$187K |
|
1468
iShares Core 80/20 Aggressive Allocation ETF
AOA
$3.19B
| $12.2M | ﹤0.01% |
160,072
+1,401
| +0.9% | +$109K |
|
1469
Fidelity MSCI Industrials Index ETF
FIDU
$2.3B
| $12.2M | ﹤0.01% |
178,344
+30,176
| +20% | +$2.16M |
|
1470
Labcorp
LH
$25B
| $12.2M | ﹤0.01% |
52,431
-10,115
| -16% | -$2.45M |
|
|
DFSD
1471
Dimensional Short-Duration Fixed Income ETF
DFSD
$7.09B
| $12.2M | ﹤0.01% |
256,502
+23,215
| +10% | +$1.1M |
|
|
NBSD
1472
Neuberger Short Duration Income ETF
NBSD
$1.19B
| $12.2M | ﹤0.01% |
238,681
+150,830
| +172% | +$7.68M |
|
1473
Keurig Dr Pepper
KDP
$42.3B
| $12.2M | ﹤0.01% |
355,467
+77,104
| +28% | +$2.5M |
|
1474
AB InBev
BUD
$170B
| $12.1M | ﹤0.01% |
197,108
+36,847
| +23% | +$2.02M |
|
1475
Janus Henderson Small Cap Growth Alpha ETF
JSML
$361M
| $12.1M | ﹤0.01% |
199,115
+53,503
| +37% | +$3.48M |
|
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.