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 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$195M |
| 2 |
Invesco QQQ Trust
QQQ
|
+$96.8M |
| 3 |
iShares US Treasury Bond ETF
GOVT
|
+$89.9M |
| 4 |
First Trust Value Line Dividend Fund
FVD
|
+$89.8M |
| 5 |
Vanguard Total Bond Market
BND
|
+$76.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI USA Momentum Factor ETF
MTUM
|
+$43.7M |
| 2 |
Vanguard Total Stock Market ETF
VTI
|
+$40.7M |
| 3 |
Invesco FTSE RAFI US 1000 ETF
PRF
|
+$40.2M |
| 4 |
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
|
+$38.1M |
| 5 |
iShares Short Maturity Bond ETF
NEAR
|
+$34.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.06% |
| 2 | Financials | 2.86% |
| 3 | Healthcare | 2.41% |
| 4 | Communication Services | 2.14% |
| 5 | Consumer Discretionary | 2.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Schwab US Dividend Equity ETF
SCHD
$102B
| $84M | 0.15% |
4,351,545
+588,246
| +16% | +$11M |
|
127
First Trust Large Cap Core AlphaDEX Fund
FEX
$1.58B
| $83.7M | 0.15% |
1,283,432
-66,565
| -5% | -$4.17M |
|
128
Walmart Inc
WMT
$871B
| $83.5M | 0.15% |
2,108,226
+184,332
| +10% | +$7.32M |
|
129
Bank of America
BAC
$435B
| $82.3M | 0.15% |
2,336,142
+48,144
| +2% | +$1.56M |
|
130
Vanguard Mega Cap Growth ETF
MGK
$31.9B
| $81.2M | 0.15% |
2,787,285
+131,920
| +5% | +$3.64M |
|
131
Vanguard Health Care ETF
VHT
$18.2B
| $80.9M | 0.15% |
421,687
+39,106
| +10% | +$7.01M |
|
132
State Street Energy Select Sector SPDR ETF
XLE
$39.7B
| $80.7M | 0.15% |
2,688,946
+714,426
| +36% | +$21.2M |
|
133
iShares MSCI USA Size Factor ETF
SIZE
$427M
| $80.1M | 0.15% |
822,266
+810,762
| +7,048% | +$75.8M |
|
134
PepsiCo
PEP
$186B
| $79.3M | 0.14% |
579,915
-10,853
| -2% | -$1.48M |
|
135
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
| $78.6M | 0.14% |
2,225,902
-376,106
| -14% | -$13.3M |
|
136
iShares Russell Mid-Cap Growth ETF
IWP
$19.7B
| $77.9M | 0.14% |
1,021,468
+85,324
| +9% | +$6.26M |
|
137
Costco
COST
$415B
| $77.4M | 0.14% |
263,326
+11,061
| +4% | +$3.29M |
|
138
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
$50.7B
| $77.3M | 0.14% |
1,845,048
+471,659
| +34% | +$18.9M |
|
139
VictoryShares US EQ Income Enhanced Volatility Wtd ETF
CDC
$744M
| $75.4M | 0.14% |
1,538,203
+112,658
| +8% | +$5.34M |
|
140
VanEck Morningstar Wide Moat ETF
MOAT
$11.5B
| $75.2M | 0.14% |
1,372,993
+554,989
| +68% | +$29.4M |
|
141
iShares US Medical Devices ETF
IHI
$2.99B
| $75M | 0.14% |
1,701,492
+184,386
| +12% | +$7.75M |
|
142
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
| $74.4M | 0.14% |
591,340
+126,009
| +27% | +$15.9M |
|
143
Vanguard Total International Stock ETF
VXUS
$153B
| $73.1M | 0.13% |
1,312,836
+7,829
| +0.6% | +$421K |
|
144
Merck
MRK
$324B
| $72.1M | 0.13% |
830,290
+93,392
| +13% | +$7.67M |
|
145
iShares National Muni Bond ETF
MUB
$45.1B
| $71.9M | 0.13% |
631,421
+96,723
| +18% | +$11M |
|
146
McDonald's
MCD
$188B
| $71.2M | 0.13% |
360,421
+40,298
| +13% | +$7.99M |
|
147
Adobe
ADBE
$89.5B
| $70.9M | 0.13% |
215,108
+16,376
| +8% | +$4.82M |
|
148
iShares Russell 3000 ETF
IWV
$19.4B
| $70.7M | 0.13% |
375,223
-3,833
| -1% | -$691K |
|
149
Vanguard Small-Cap Growth ETF
VBK
$23.2B
| $70M | 0.13% |
352,040
+19,739
| +6% | +$3.75M |
|
150
Schwab US Large-Cap Growth ETF
SCHG
$58.6B
| $69.3M | 0.13% |
5,964,504
+291,560
| +5% | +$3.21M |
|
Similar funds
LPL Financial's Q4 2019 Portfolio in Review
As of Q4 2019, LPL Financial held 3,501 positions worth $55B, up 12% from $49.1B the previous quarter. Its ten largest holdings account for 22% of the portfolio.
LPL Financial deployed $2.86B of net new capital in Q4 2019, opening 217 new positions and adding to 1,885 existing holdings. Its largest new stake was iShares MSCI Italy ETF: 448,375 shares worth $13.2M.
By sector, the portfolio is most concentrated in Technology at 4.1% of assets, up from 3.6% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was iShares MSCI USA Momentum Factor ETF, an estimated $43.7M trimmed.
- LPL Financial's largest Q4 2019 buy was iShares MSCI Italy ETF: 448,375 shares worth $13.2M.
- LPL Financial added most to iShares MSCI USA Quality Factor ETF in Q4 2019, an estimated $195M increase.
- LPL Financial's biggest Q4 2019 reduction was iShares MSCI USA Momentum Factor ETF, cutting an estimated $43.7M.
- LPL Financial fully exited iShares iBonds Dec 2019 Term Corporate ETF in Q4 2019, selling an estimated $16.8M.
- LPL Financial's ten largest holdings make up 22% of its $55B portfolio in Q4 2019.
- LPL Financial opened 217 new positions and closed 160 in Q4 2019.
- LPL Financial's portfolio value rose 12% quarter-over-quarter to $55B.
Based on LPL Financial's 13F filing for Q4 2019, filed 14 Feb 2020.