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 | |
|---|---|---|---|---|---|---|
126
Vanguard Total International Bond ETF
BNDX
$82B
| $455M | 0.18% |
9,309,943
-80,547
| -0.9% | -$3.94M |
|
|
127
iShares Global Infrastructure ETF
IGF
$10.9B
| $450M | 0.18% |
8,233,568
+8,081,757
| +5,324% | +$434M |
|
128
Goldman Sachs MarketBeta US Equity ETF
GSUS
$3.09B
| $422M | 0.16% |
5,493,438
+133,706
| +2% | +$10.8M |
|
129
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$16.7B
| $422M | 0.16% |
10,706,453
+620,049
| +6% | +$24.3M |
|
130
iShares 7-10 Year Treasury Bond ETF
IEF
$47.2B
| $417M | 0.16% |
4,376,591
+673,678
| +18% | +$63M |
|
131
McDonald's
MCD
$193B
| $410M | 0.16% |
1,311,971
+64,593
| +5% | +$19.3M |
|
132
Invesco S&P 500 Revenue ETF
RWL
$9.57B
| $408M | 0.16% |
4,111,859
+114,112
| +3% | +$11.5M |
|
133
State Street SPDR S&P 600 Small Cap Value ETF
SLYV
$4.89B
| $404M | 0.16% |
5,152,916
+3,631,170
| +239% | +$308M |
|
134
VanEck Semiconductor ETF
SMH
$60.8B
| $402M | 0.16% |
1,903,252
-10,337
| -0.5% | -$2.48M |
|
135
iShares 20+ Year Treasury Bond ETF
TLT
$42.4B
| $399M | 0.16% |
4,377,870
-1,657,226
| -27% | -$148M |
|
136
iShares MSCI USA Momentum Factor ETF
MTUM
$23.6B
| $396M | 0.15% |
1,960,110
+5,473
| +0.3% | +$1.17M |
|
137
Avantis US Small Cap Value ETF
AVUV
$30.3B
| $382M | 0.15% |
4,386,459
+242,483
| +6% | +$22.8M |
|
138
State Street SPDR S&P Dividend ETF
SDY
$22.1B
| $375M | 0.15% |
2,762,025
-99,669
| -3% | -$13.4M |
|
139
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
| $371M | 0.14% |
3,414,796
+312,516
| +10% | +$33.7M |
|
140
Philip Morris
PM
$309B
| $369M | 0.14% |
2,326,450
+113,152
| +5% | +$16M |
|
141
Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
PDBC
$6.38B
| $365M | 0.14% |
26,769,795
+21,473,500
| +405% | +$289M |
|
142
Verizon
VZ
$197B
| $363M | 0.14% |
7,994,580
+98,430
| +1% | +$4.1M |
|
143
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$16.9B
| $360M | 0.14% |
3,580,510
+590,459
| +20% | +$59.4M |
|
144
Palantir
PLTR
$295B
| $359M | 0.14% |
4,257,390
+677,116
| +19% | +$59.5M |
|
145
Coca-Cola
KO
$383B
| $352M | 0.14% |
4,916,078
+575,499
| +13% | +$38.4M |
|
146
IBM
IBM
$213B
| $350M | 0.14% |
1,408,140
+92,851
| +7% | +$22.7M |
|
147
iShares MSCI EAFE ETF
EFA
$76.4B
| $344M | 0.13% |
4,212,629
+256,296
| +6% | +$20.7M |
|
148
Vanguard Intermediate-Term Bond ETF
BIV
$28.9B
| $344M | 0.13% |
4,494,250
-42,692
| -0.9% | -$3.22M |
|
149
Salesforce
CRM
$154B
| $344M | 0.13% |
1,282,293
+214,980
| +20% | +$66.9M |
|
150
State Street SPDR Portfolio Mortgage Backed Bond ETF
SPMB
$6.97B
| $340M | 0.13% |
15,416,905
+2,152,458
| +16% | +$46.8M |
|
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.