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 MBS ETF
MBB
|
+$929M |
| 2 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$468M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$346M |
| 4 |
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
|
+$336M |
| 5 |
iShares Core Universal USD Bond ETF
IUSB
|
+$227M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares ESG Aware MSCI USA ETF
ESGU
|
+$546M |
| 2 |
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
|
+$481M |
| 3 |
iShares MSCI Emerging Markets Min Vol Factor ETF
EEMV
|
+$298M |
| 4 |
State Street Blackstone Senior Loan ETF
SRLN
|
+$252M |
| 5 |
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
|
+$201M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 5.96% |
| 2 | Healthcare | 2.96% |
| 3 | Financials | 2.91% |
| 4 | Consumer Discretionary | 2.4% |
| 5 | Industrials | 2.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
iShares Core S&P 500 ETF
IVV
$878B
| $3.25B | 2.53% |
7,905,690
-88,614
| -1% | -$35.5M |
|
2
Vanguard Morningstar Total Stock Market ETF
VTI
$660B
| $2.66B | 2.07% |
13,024,351
-271,038
| -2% | -$54.3M |
|
3
State Street SPDR S&P 500 ETF Trust
SPY
$790B
| $2.56B | 1.99% |
6,250,508
+262,714
| +4% | +$105M |
|
4
Apple
AAPL
$4.54T
| $2.42B | 1.89% |
14,699,748
+521,807
| +4% | +$77M |
|
5
Vanguard Total Bond Market
BND
$157B
| $2.23B | 1.74% |
30,224,127
-429,842
| -1% | -$31.5M |
|
6
Invesco QQQ Trust
QQQ
$453B
| $2.2B | 1.72% |
6,870,563
+259,372
| +4% | +$76.5M |
|
7
iShares Core MSCI EAFE ETF
IEFA
$190B
| $2.09B | 1.63% |
31,306,298
+3,322,467
| +12% | +$218M |
|
8
iShares Core S&P Mid-Cap ETF
IJH
$122B
| $1.84B | 1.43% |
36,830,990
+28,860
| +0.1% | +$1.47M |
|
|
9
iShares MBS ETF
MBB
$38.9B
| $1.53B | 1.19% |
16,195,270
+9,833,647
| +155% | +$929M |
|
|
10
iShares MSCI USA Quality Factor ETF
QUAL
$46.4B
| $1.53B | 1.19% |
12,348,358
+3,901,463
| +46% | +$468M |
|
11
Microsoft
MSFT
$3.45T
| $1.46B | 1.14% |
5,064,170
+239,273
| +5% | +$61M |
|
12
Vanguard S&P 500 ETF
VOO
$979B
| $1.4B | 1.09% |
3,711,555
+127,824
| +4% | +$46.9M |
|
13
iShares Core S&P US Growth ETF
IUSG
$31.7B
| $1.2B | 0.93% |
13,515,899
+486,189
| +4% | +$41.4M |
|
|
14
iShares Core Universal USD Bond ETF
IUSB
$42.9B
| $1.15B | 0.9% |
24,999,656
+4,970,882
| +25% | +$227M |
|
15
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
$51.7B
| $1.14B | 0.89% |
20,650,796
+2,035,999
| +11% | +$108M |
|
|
16
iShares Core MSCI Emerging Markets ETF
IEMG
$150B
| $1.1B | 0.85% |
22,461,343
+7,059,258
| +46% | +$346M |
|
17
iShares Core S&P Small-Cap ETF
IJR
$109B
| $1.08B | 0.84% |
11,203,294
-841,231
| -7% | -$84.1M |
|
18
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
$36.1B
| $1.04B | 0.81% |
25,540,824
+1,090,155
| +4% | +$44.2M |
|
19
Vanguard Morningstar Growth ETF
VUG
$220B
| $1.04B | 0.81% |
24,924,996
-1,739,394
| -7% | -$67.6M |
|
20
Vanguard Morningstar Value ETF
VTV
$188B
| $1.03B | 0.8% |
7,437,477
+101,149
| +1% | +$14.2M |
|
21
iShares Russell 2000 ETF
IWM
$79.8B
| $919M | 0.72% |
5,150,798
-56,454
| -1% | -$10.4M |
|
22
First Trust Value Line Dividend Fund
FVD
$8.32B
| $916M | 0.71% |
22,800,674
+601,928
| +3% | +$24.1M |
|
|
SPYM
23
State Street SPDR Portfolio S&P 500 ETF
SPYM
$161B
| $863M | 0.67% |
17,925,808
+2,823,990
| +19% | +$132M |
|
24
iShares Core S&P US Value ETF
IUSV
$27.2B
| $853M | 0.66% |
11,556,165
-51,020
| -0.4% | -$3.76M |
|
25
State Street Health Care Select Sector SPDR ETF
XLV
$41.9B
| $845M | 0.66% |
6,525,417
-654,554
| -9% | -$85.5M |
|
Similar funds
LPL Financial's Q1 2023 Portfolio in Review
As of Q1 2023, LPL Financial held 4,683 positions worth $128B, up 10% from $117B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
LPL Financial deployed $5.89B of net new capital in Q1 2023, opening 238 new positions and adding to 2,599 existing holdings. Its largest new stake was AB Tax-Aware Short Duration Municipal ETF: 1,348,071 shares worth $33.9M.
By sector, the portfolio is most concentrated in Technology at 6% of assets, up from 5.1% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was iShares ESG Aware MSCI USA ETF, an estimated $546M trimmed.
- LPL Financial's largest Q1 2023 buy was AB Tax-Aware Short Duration Municipal ETF: 1,348,071 shares worth $33.9M.
- LPL Financial added most to iShares MBS ETF in Q1 2023, an estimated $929M increase.
- LPL Financial's biggest Q1 2023 reduction was iShares ESG Aware MSCI USA ETF, cutting an estimated $546M.
- LPL Financial fully exited STORE Capital Corporation in Q1 2023, selling an estimated $20.5M.
- LPL Financial's ten largest holdings make up 17% of its $128B portfolio in Q1 2023.
- LPL Financial opened 238 new positions and closed 199 in Q1 2023.
- LPL Financial's portfolio value rose 10% quarter-over-quarter to $128B.
Based on LPL Financial's 13F filing for Q1 2023, filed 10 May 2023.