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 | |
|---|---|---|---|---|---|---|
1776
Invesco BulletShares 2028 Municipal Bond ETF
BSMS
$310M
| $7.93M | ﹤0.01% |
342,248
+52,468
| +18% | +$1.23M |
|
|
PHK
1777
PIMCO High Income Fund
PHK
$873M
| $7.93M | ﹤0.01% |
1,620,897
-3,598
| -0.2% | -$17.7K |
|
1778
Las Vegas Sands
LVS
$30.6B
| $7.92M | ﹤0.01% |
205,060
-18,311
| -8% | -$809K |
|
1779
Pentair
PNR
$10.7B
| $7.92M | ﹤0.01% |
90,522
-13,041
| -13% | -$1.24M |
|
1780
Okta
OKTA
$24.6B
| $7.89M | ﹤0.01% |
74,974
+17,622
| +31% | +$1.72M |
|
1781
Cullen/Frost Bankers
CFR
$10.5B
| $7.89M | ﹤0.01% |
62,995
-3,838
| -6% | -$516K |
|
1782
AES
AES
$10.5B
| $7.89M | ﹤0.01% |
634,974
+114,999
| +22% | +$1.33M |
|
1783
Timothy Plan US Small Cap Core ETF
TPSC
$367M
| $7.88M | ﹤0.01% |
212,917
+19,767
| +10% | +$769K |
|
|
EMD
1784
Western Asset Emerging Markets Debt Fund
EMD
$612M
| $7.86M | ﹤0.01% |
794,299
+2,971
| +0.4% | +$29.2K |
|
1785
Universal Health Services
UHS
$10.2B
| $7.84M | ﹤0.01% |
41,750
+11,454
| +38% | +$2.09M |
|
1786
Flutter Entertainment
FLUT
$18.4B
| $7.84M | ﹤0.01% |
35,404
-2,834
| -7% | -$734K |
|
1787
Virtus Newfleet Multi-Sector Bond ETF
NFLT
$449M
| $7.84M | ﹤0.01% |
347,234
-115,420
| -25% | -$2.61M |
|
1788
JPMorgan Diversified Return International Equity ETF
JPIN
$368M
| $7.82M | ﹤0.01% |
136,872
-6,887
| -5% | -$387K |
|
1789
F5
FFIV
$23.1B
| $7.81M | ﹤0.01% |
29,328
+9,079
| +45% | +$2.54M |
|
1790
iShares iBonds Dec 2031 Term Corporate ETF
IBDW
$2.52B
| $7.81M | ﹤0.01% |
376,251
+94,706
| +34% | +$1.94M |
|
1791
US Foods
USFD
$21.9B
| $7.79M | ﹤0.01% |
119,044
+10,446
| +10% | +$714K |
|
1792
State Street SPDR S&P Health Care Services ETF
XHS
$207M
| $7.79M | ﹤0.01% |
79,410
+47,907
| +152% | +$4.69M |
|
1793
United Therapeutics
UTHR
$25.7B
| $7.78M | ﹤0.01% |
25,246
+11,007
| +77% | +$3.77M |
|
1794
Mid-America Apartment Communities
MAA
$15.5B
| $7.77M | ﹤0.01% |
46,347
+1,813
| +4% | +$287K |
|
1795
Suncor Energy
SU
$77.9B
| $7.76M | ﹤0.01% |
200,348
-36,453
| -15% | -$1.39M |
|
1796
MGM Resorts International
MGM
$11.4B
| $7.75M | ﹤0.01% |
261,428
-160,472
| -38% | -$5.39M |
|
1797
VictoryShares Dividend Accelerator ETF
VSDA
$248M
| $7.75M | ﹤0.01% |
149,874
-121,485
| -45% | -$6.27M |
|
1798
FT Vest US Equity Moderate Buffer ETF March
GMAR
$394M
| $7.72M | ﹤0.01% |
207,470
+7,501
| +4% | +$283K |
|
1799
Federal Realty Investment Trust
FRT
$10.7B
| $7.71M | ﹤0.01% |
78,857
-4,432
| -5% | -$461K |
|
1800
iShares S&P India Nifty 50 Index Fund
INDY
$567M
| $7.7M | ﹤0.01% |
151,748
-25,998
| -15% | -$1.29M |
|
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.