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 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$195M |
| 2 |
Invesco QQQ Trust
QQQ
|
+$96.8M |
| 3 |
iShares US Treasury Bond ETF
GOVT
|
+$89.9M |
| 4 |
First Trust Value Line Dividend Fund
FVD
|
+$89.8M |
| 5 |
Vanguard Total Bond Market
BND
|
+$76.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI USA Momentum Factor ETF
MTUM
|
+$43.7M |
| 2 |
Vanguard Total Stock Market ETF
VTI
|
+$40.7M |
| 3 |
Invesco FTSE RAFI US 1000 ETF
PRF
|
+$40.2M |
| 4 |
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
|
+$38.1M |
| 5 |
iShares Short Maturity Bond ETF
NEAR
|
+$34.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 4.06% |
| 2 | Financials | 2.86% |
| 3 | Healthcare | 2.41% |
| 4 | Communication Services | 2.14% |
| 5 | Consumer Discretionary | 2.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Vanguard Total Stock Market ETF
VTI
$654B
| $1.68B | 3.06% |
10,289,537
-259,600
| -2% | -$40.7M |
|
|
2
Vanguard Total Bond Market
BND
$157B
| $1.5B | 2.73% |
17,870,413
+909,346
| +5% | +$76.5M |
|
3
iShares Core S&P 500 ETF
IVV
$875B
| $1.38B | 2.52% |
4,280,460
+210,322
| +5% | +$65.1M |
|
4
iShares Core S&P Mid-Cap ETF
IJH
$122B
| $1.12B | 2.04% |
27,281,570
+834,540
| +3% | +$33.1M |
|
|
5
Invesco QQQ Trust
QQQ
$460B
| $1.09B | 1.98% |
5,124,227
+483,459
| +10% | +$96.8M |
|
6
iShares MSCI USA Min Vol Factor ETF
USMV
$23B
| $1.08B | 1.96% |
16,414,542
+679,042
| +4% | +$43.6M |
|
7
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $1.07B | 1.95% |
3,334,976
+144,849
| +5% | +$44.6M |
|
8
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$66B
| $1.04B | 1.9% |
11,409,332
+796,060
| +8% | +$72.6M |
|
9
iShares Core MSCI Emerging Markets ETF
IEMG
$152B
| $997M | 1.81% |
18,539,358
+624,358
| +3% | +$32.2M |
|
10
iShares Core S&P US Growth ETF
IUSG
$31.3B
| $928M | 1.69% |
13,720,592
+475,683
| +4% | +$30.8M |
|
|
11
iShares MSCI USA Quality Factor ETF
QUAL
$45.6B
| $926M | 1.69% |
9,170,003
+2,029,729
| +28% | +$195M |
|
12
iShares Core US Aggregate Bond ETF
AGG
$137B
| $859M | 1.56% |
7,648,289
+5,027
| +0.1% | +$566K |
|
13
iShares Core MSCI EAFE ETF
IEFA
$185B
| $778M | 1.42% |
11,922,530
+524,142
| +5% | +$33.2M |
|
14
Apple
AAPL
$4.72T
| $746M | 1.36% |
10,161,020
+499,848
| +5% | +$32.2M |
|
15
iShares Core S&P US Value ETF
IUSV
$26.9B
| $722M | 1.31% |
11,459,565
+412,027
| +4% | +$24.8M |
|
16
iShares Russell 2000 ETF
IWM
$81.2B
| $647M | 1.18% |
3,904,813
+38,091
| +1% | +$6.02M |
|
17
Vanguard Value ETF
VTV
$188B
| $592M | 1.08% |
4,935,390
+152,177
| +3% | +$17.6M |
|
18
Vanguard Growth ETF
VUG
$217B
| $549M | 1% |
18,082,464
+542,904
| +3% | +$15.7M |
|
|
19
First Trust Value Line Dividend Fund
FVD
$8.19B
| $474M | 0.86% |
13,162,880
+2,549,498
| +24% | +$89.8M |
|
20
Vanguard S&P 500 ETF
VOO
$967B
| $471M | 0.86% |
1,592,099
+62,122
| +4% | +$17.6M |
|
21
Vanguard FTSE Developed Markets ETF
VEA
$226B
| $458M | 0.83% |
10,398,689
+625,556
| +6% | +$26.7M |
|
22
iShares S&P 500 Growth ETF
IVW
$72.9B
| $444M | 0.81% |
9,166,044
-344,280
| -4% | -$16M |
|
23
iShares Russell 1000 Growth ETF
IWF
$123B
| $439M | 0.8% |
9,982,160
+156,352
| +2% | +$6.53M |
|
24
iShares Core S&P Small-Cap ETF
IJR
$109B
| $406M | 0.74% |
4,839,921
-150,511
| -3% | -$12.1M |
|
25
iShares Broad USD High Yield Corporate Bond ETF
USHY
$28.9B
| $401M | 0.73% |
9,758,696
+669,973
| +7% | +$27.3M |
|
Similar funds
LPL Financial's Q4 2019 Portfolio in Review
As of Q4 2019, LPL Financial held 3,501 positions worth $55B, up 12% from $49.1B the previous quarter. Its ten largest holdings account for 22% of the portfolio.
LPL Financial deployed $2.86B of net new capital in Q4 2019, opening 217 new positions and adding to 1,885 existing holdings. Its largest new stake was iShares MSCI Italy ETF: 448,375 shares worth $13.2M.
By sector, the portfolio is most concentrated in Technology at 4.1% of assets, up from 3.6% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was iShares MSCI USA Momentum Factor ETF, an estimated $43.7M trimmed.
- LPL Financial's largest Q4 2019 buy was iShares MSCI Italy ETF: 448,375 shares worth $13.2M.
- LPL Financial added most to iShares MSCI USA Quality Factor ETF in Q4 2019, an estimated $195M increase.
- LPL Financial's biggest Q4 2019 reduction was iShares MSCI USA Momentum Factor ETF, cutting an estimated $43.7M.
- LPL Financial fully exited iShares iBonds Dec 2019 Term Corporate ETF in Q4 2019, selling an estimated $16.8M.
- LPL Financial's ten largest holdings make up 22% of its $55B portfolio in Q4 2019.
- LPL Financial opened 217 new positions and closed 160 in Q4 2019.
- LPL Financial's portfolio value rose 12% quarter-over-quarter to $55B.
Based on LPL Financial's 13F filing for Q4 2019, filed 14 Feb 2020.