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 | |
|---|---|---|---|---|---|---|
2226
iShares Morningstar Small-Cap ETF
ISCB
$292M
| $4.57M | ﹤0.01% |
84,293
-2,712
| -3% | -$158K |
|
|
CADE
2227
DELISTED
Cadence Bank
CADE
| $4.57M | ﹤0.01% |
150,402
+927
| +0.6% | +$30.7K |
|
2228
Loews
L
$23.7B
| $4.56M | ﹤0.01% |
49,659
+9,069
| +22% | +$776K |
|
2229
Fidelity Stocks for Inflation ETF
FCPI
$279M
| $4.56M | ﹤0.01% |
105,332
+4,883
| +5% | +$217K |
|
2230
WisdomTree True Emerging Markets Fund
XC
$81.7M
| $4.56M | ﹤0.01% |
153,334
+29,263
| +24% | +$896K |
|
2231
Angel Oak Income ETF
CARY
$1.39B
| $4.55M | ﹤0.01% |
219,008
+20,731
| +10% | +$429K |
|
2232
PUT
Microsoft
MSFT
$3.66T
| $4.54M | ﹤0.01% |
12,100
+100
| +0.8% | +$40.8K |
|
2233
BioMarin Pharmaceuticals
BMRN
$11.7B
| $4.54M | ﹤0.01% |
64,176
+32,903
| +105% | +$2.21M |
|
2234
WisdomTree International Multifactor Fund
DWMF
$34.2M
| $4.54M | ﹤0.01% |
155,294
+374
| +0.2% | +$10.5K |
|
2235
State Street SPDR FactSet Innovative Technology ETF
XITK
$75.5M
| $4.53M | ﹤0.01% |
28,319
-2,040
| -7% | -$364K |
|
2236
VanEck Long Muni ETF
MLN
$679M
| $4.53M | ﹤0.01% |
260,232
+18,059
| +7% | +$319K |
|
2237
Trimble
TRMB
$13.9B
| $4.53M | ﹤0.01% |
68,929
+24,090
| +54% | +$1.73M |
|
2238
Wintrust Financial
WTFC
$11B
| $4.52M | ﹤0.01% |
40,220
+24,240
| +152% | +$3M |
|
2239
EPAM Systems
EPAM
$5.85B
| $4.51M | ﹤0.01% |
26,698
-5,409
| -17% | -$1.19M |
|
2240
American Conservative Values ETF
ACVF
$157M
| $4.5M | ﹤0.01% |
105,135
+8,436
| +9% | +$374K |
|
|
NTRL
2241
First Trust Equity Market Neutral ETF
NTRL
$16.1M
| $4.48M | ﹤0.01% |
224,359
+201,611
| +886% | +$4.01M |
|
2242
Toast
TOST
$19.6B
| $4.48M | ﹤0.01% |
135,044
+17,026
| +14% | +$637K |
|
|
FGB
2243
DELISTED
First Trust Specialty Finance and Financial Opportunities Fund
FGB
| $4.47M | ﹤0.01% |
1,039,701
-27,547
| -3% | -$120K |
|
|
BLD
2244
DELISTED
TopBuild
BLD
| $4.47M | ﹤0.01% |
14,658
-22,473
| -61% | -$7.19M |
|
2245
Leonardo DRS
DRS
$12.1B
| $4.47M | ﹤0.01% |
135,813
+50,390
| +59% | +$1.66M |
|
2246
Modine Manufacturing
MOD
$10.7B
| $4.46M | ﹤0.01% |
58,148
+7,790
| +15% | +$768K |
|
2247
FT Vest US Equity Buffer ETF September
FSEP
$1.23B
| $4.45M | ﹤0.01% |
99,924
-377
| -0.4% | -$17.3K |
|
2248
Equinox Gold
EQX
$7.56B
| $4.45M | ﹤0.01% |
646,649
+215,927
| +50% | +$1.38M |
|
2249
iShares Mortgage Real Estate ETF
REM
$540M
| $4.45M | ﹤0.01% |
198,103
+9,496
| +5% | +$214K |
|
2250
iShares iBonds 2028 Term High Yield and Income ETF
IBHH
$457M
| $4.44M | ﹤0.01% |
190,194
+15,982
| +9% | +$376K |
|
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.