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 | |
|---|---|---|---|---|---|---|
1651
Graham Holdings Company
GHC
$5.12B
| $9.43M | ﹤0.01% |
9,812
-195
| -2% | -$181K |
|
1652
NiSource
NI
$21.3B
| $9.39M | ﹤0.01% |
234,234
+53,972
| +30% | +$2.08M |
|
1653
Sprott Uranium Miners ETF
URNM
$1.84B
| $9.39M | ﹤0.01% |
289,391
-9,695
| -3% | -$368K |
|
1654
Invesco S&P 500 Equal Weight Real Estate ETF
RSPR
$102M
| $9.38M | ﹤0.01% |
262,600
+22,730
| +9% | +$808K |
|
1655
Macerich
MAC
$7.31B
| $9.36M | ﹤0.01% |
545,184
+5,662
| +1% | +$108K |
|
1656
VanEck Digital Transformation ETF
DAPP
$239M
| $9.35M | ﹤0.01% |
1,035,932
+213,668
| +26% | +$2.86M |
|
1657
Simplify Aggregate Bond ETF
AGGH
$576M
| $9.35M | ﹤0.01% |
442,137
-13,273
| -3% | -$277K |
|
1658
iShares iBonds Dec 2030 Term Corporate ETF
IBDV
$3.27B
| $9.31M | ﹤0.01% |
428,769
+82,621
| +24% | +$1.78M |
|
1659
HDFC Bank
HDB
$123B
| $9.3M | ﹤0.01% |
279,922
+48,370
| +21% | +$1.48M |
|
1660
VictoryShares US Large Cap High Div Volatility Wtd ETF
CDL
$402M
| $9.29M | ﹤0.01% |
135,648
+56,526
| +71% | +$3.8M |
|
1661
Tenet Healthcare
THC
$20.1B
| $9.28M | ﹤0.01% |
69,028
+1,892
| +3% | +$249K |
|
1662
Adaptive Alpha Opportunities ETF
AGOX
$378M
| $9.28M | ﹤0.01% |
379,383
-3,173
| -0.8% | -$85.8K |
|
1663
Angel Oak Mortgage-Backed Securities ETF
MBS
$146M
| $9.28M | ﹤0.01% |
1,069,192
+158,850
| +17% | +$1.36M |
|
1664
Invesco Global Listed Private Equity ETF
PSP
$238M
| $9.27M | ﹤0.01% |
144,728
-81,624
| -36% | -$5.56M |
|
1665
VanEck Rare Earth/Strategic Metals ETF
REMX
$1.96B
| $9.27M | ﹤0.01% |
234,500
+33,701
| +17% | +$1.4M |
|
1666
Waters Corp
WAT
$36.8B
| $9.26M | ﹤0.01% |
25,133
+4,769
| +23% | +$1.85M |
|
1667
Humana
HUM
$44.3B
| $9.26M | ﹤0.01% |
35,005
+2,426
| +7% | +$656K |
|
|
WCN
1668
Waste Connections
WCN
$42.3B
| $9.26M | ﹤0.01% |
47,432
+3,868
| +9% | +$716K |
|
1669
Baidu
BIDU
$38.4B
| $9.25M | ﹤0.01% |
100,526
+25,929
| +35% | +$2.33M |
|
1670
State Street SPDR S&P North American Natural Resources ETF
NANR
$746M
| $9.24M | ﹤0.01% |
166,437
+17,694
| +12% | +$957K |
|
1671
Ferguson
FERG
$49.1B
| $9.23M | ﹤0.01% |
57,625
+6,846
| +13% | +$1.19M |
|
1672
Bruker
BRKR
$9.67B
| $9.21M | ﹤0.01% |
220,695
-12,310
| -5% | -$640K |
|
1673
iShares US Telecommunications ETF
IYZ
$1.2B
| $9.21M | ﹤0.01% |
336,208
-104,921
| -24% | -$2.9M |
|
1674
Alerian Energy Infrastructure ETF
ENFR
$514M
| $9.21M | ﹤0.01% |
280,968
+56,871
| +25% | +$1.84M |
|
1675
Vanguard S&P Mid-Cap 400 Value ETF
IVOV
$1.35B
| $9.19M | ﹤0.01% |
99,822
+7,957
| +9% | +$764K |
|
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.