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 | |
|---|---|---|---|---|---|---|
1576
Western Alliance Bancorporation
WAL
$8.93B
| $10.3M | ﹤0.01% |
134,316
-11,987
| -8% | -$1.01M |
|
1577
iShares iBonds Dec 2027 Term Muni Bond ETF
IBMP
$653M
| $10.3M | ﹤0.01% |
407,925
+183,135
| +81% | +$4.62M |
|
|
AWF
1578
AllianceBernstein Global High Income Fund
AWF
$874M
| $10.3M | ﹤0.01% |
960,855
+35,714
| +4% | +$387K |
|
1579
Canadian National Railway
CNI
$76.6B
| $10.3M | ﹤0.01% |
105,638
+6,432
| +6% | +$650K |
|
1580
Allegion
ALLE
$13.6B
| $10.3M | ﹤0.01% |
78,897
-1,156
| -1% | -$150K |
|
1581
CION Investment
CION
$309M
| $10.3M | ﹤0.01% |
992,946
+25,706
| +3% | +$298K |
|
1582
Dynatrace
DT
$13.2B
| $10.3M | ﹤0.01% |
222,688
+18,600
| +9% | +$1.02M |
|
1583
Franklin Bitcoin ETF
EZBC
$378M
| $10.3M | ﹤0.01% |
214,815
+95,662
| +80% | +$5.16M |
|
1584
Essex Property Trust
ESS
$18.3B
| $10.2M | ﹤0.01% |
33,425
+1,043
| +3% | +$305K |
|
1585
Fidelity MSCI Communication Services Index ETF
FCOM
$1.82B
| $10.2M | ﹤0.01% |
181,932
+53,928
| +42% | +$3.25M |
|
|
FTF
1586
Franklin Limited Duration Income Trust
FTF
$232M
| $10.2M | ﹤0.01% |
1,584,157
+709,710
| +81% | +$4.67M |
|
1587
BlackRock Credit Allocation Income Trust
BTZ
$937M
| $10.2M | ﹤0.01% |
953,632
+175,452
| +23% | +$1.88M |
|
1588
Madrigal Pharmaceuticals
MDGL
$10.9B
| $10.2M | ﹤0.01% |
30,822
+25,602
| +490% | +$8.41M |
|
1589
Invesco BulletShares 2032 Municipal Bond ETF
BSMW
$213M
| $10.2M | ﹤0.01% |
414,623
+110,440
| +36% | +$2.76M |
|
1590
WisdomTree True Developed International Fund
DOL
$830M
| $10.2M | ﹤0.01% |
184,726
-20,958
| -10% | -$1.11M |
|
1591
VictoryShares US 500 Volatility Wtd ETF
CFA
$538M
| $10.2M | ﹤0.01% |
120,440
-2,304
| -2% | -$199K |
|
1592
Gaming and Leisure Properties
GLPI
$12.6B
| $10.2M | ﹤0.01% |
199,701
+13,840
| +7% | +$680K |
|
1593
Nuveen Municipal Value Fund
NUV
$1.91B
| $10.1M | ﹤0.01% |
1,154,702
+106,291
| +10% | +$931K |
|
1594
DexCom
DXCM
$32.6B
| $10.1M | ﹤0.01% |
148,162
-40,144
| -21% | -$3.28M |
|
1595
Teradyne
TER
$56.7B
| $10.1M | ﹤0.01% |
122,437
+34,838
| +40% | +$3.9M |
|
1596
Pacer Trendpilot US Bond ETF
PTBD
$85.5M
| $10.1M | ﹤0.01% |
503,510
+22,292
| +5% | +$450K |
|
1597
Nuveen ESG US Aggregate Bond ETF
NUBD
$463M
| $10.1M | ﹤0.01% |
453,774
+10,023
| +2% | +$220K |
|
1598
iShares JPMorgan EM High Yield Bond ETF
EMHY
$625M
| $10M | ﹤0.01% |
262,595
+8,438
| +3% | +$325K |
|
1599
Molina Healthcare
MOH
$10.3B
| $10M | ﹤0.01% |
30,463
+12,503
| +70% | +$3.78M |
|
1600
John Hancock Mortgage-Backed Securities ETF
JHMB
$205M
| $10M | ﹤0.01% |
458,357
+297,455
| +185% | +$6.44M |
|
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.