UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
LPL FINANCIAL HOLDINGS INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
50212V100
(CUSIP Number)
December 14, 2018
(Date of Event which Requires Filing of this Statement)

1.	Names of Reporting Persons   SPO Partners II, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (PN)

1.	Names of Reporting Persons   SPO Advisory Partners, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power        0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person        0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (PN)

1.	Names of Reporting Persons   San Francisco Partners, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       California
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (PN)

1.	Names of Reporting Persons   SF Advisory Partners, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (PN)

1.	Names of Reporting Persons   SPO Advisory Corp.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (CO)

1.	Names of Reporting Persons   Phoebe Snow Foundation, Inc.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       California
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (CO)

1.	Names of Reporting Persons   Eli J. Weinberg
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       USA
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       0
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       0
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       0
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       0.0%
12.	Type of Reporting Person (See Instructions)       (IN)

1.	Names of Reporting Persons       Ronak R. Gandhi
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ☐         (b)  ☒
3.	SEC Use Only
4.	Citizenship or Place of Organization       USA
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power       120
		6.	Shared Voting Power       0
		7.	Sole Dispositive Power       120
		8.	Shared Dispositive Power       0
9.	Aggregate Amount Beneficially Owned by Each Reporting Person       120
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐
11.	Percent of Class Represented by Amount in Row (9)       **0.1%
12.	Type of Reporting Person (See Instructions)       (IN)

Item 1.	(a)	Name of Issuer
		LPL Financial Holdings Inc.
	(b)	Address of Issuer’s Principal Executive Offices
		75 State Street, Boston, Massachusetts 02109
Item 2.	(a)	Name of Person Filing
		SPO Partners II, L.P., a Delaware limited partnership (“SPO”), SPO Advisory Partners, L.P., a Delaware limited partnership (“SPO Advisory Partners”), San Francisco Partners, L.P., a California limited partnership (“SFP”), SF Advisory Partners, L.P., a Delaware limited partnership (“SF Advisory Partners”), SPO Advisory Corp., a Delaware corporation (“SPO Advisory Corp.”), John H. Scully (“JHS”), Phoebe Snow Foundation, Inc., a California corporation (“PSF”), Eli J. Weinberg (“EJW”) and Ronak R. Gandhi (“RRG”) are sometimes hereinafter referred to as the “Reporting Persons.”
		The Reporting Persons are making this single, joint filing because they may be deemed to constitute a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Act”), although neither the fact of this filing nor anything contained herein shall be deemed to be an admission by the Reporting Persons that a group exists.
	(b), (c)	Address of Principal Business Office or, if None, Residence; Citizenship of Reporting Persons
		The principal business address of SPO is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. SPO is a Delaware limited partnership.
		The principal business address of SPO Advisory Partners is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. SPO Advisory Partners is a Delaware limited partnership.
		The principal business address of SFP is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. SFP is a California limited partnership.
		The principal business address of SF Advisory Partners is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. SF Advisory Partners is a Delaware limited partnership.
		The principal business address of SPO Advisory Corp. is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. SPO Advisory Corp. is a Delaware corporation.
		The principal business address of JHS is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. JHS is a citizen of the United States of America.
		The principal business address of PSF is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. PSF is a California corporation.
		The principal business address of EJW is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. EJW is a citizen of the United States of America.
		The principal business address of RRG is 591 Redwood Highway, Suite 3215, Mill Valley, California 94941. RRG is a citizen of the United States of America.
	(d)	Title of Class of Securities
		Common Stock, par value $0.001 per share
	(e)	CUSIP Number:
		50212V100

Item 3.	Statement filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c):
	Not Applicable.

Item 4.	Ownership.
	Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

	(b)	(a)	(c)(i)	(c)(ii)	(c)(iii)	(c)(iv)
				Common Shares
			Voting Power		Disposition Power
Reporting Persons	Percent of Class	Beneficially Owned	Sole	Shared	Sole	Shared
SPO Partners II, L.P.	0.0%	0	0	0	0	0
SPO Advisory Partners, L.P.	0.0%	0	0	0	0	0
San Francisco Partners, L.P.	0.0%	0	0	0	0	0
SF Advisory Partners, L.P.	0.0%	0	0	0	0	0
SPO Advisory Corp.	0.0%	0	0	0	0	0
John H. Scully	0.0%	0	0	0	0	0
Phoebe Snow Foundation, Inc.	0.0%	0	0	0	0	0
Eli J. Weinberg	0.0%	0	0	0	0	0
Ronak R. Gandhi	**0.1%	120	120	0	120	0

Item 5.	Ownership of Five Percent or Less of a Class.
	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☒.
Item 6.	Ownership of More than Five Percent on Behalf of Another Person.
	No other persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from, or other proceeds from the sale of, the common shares held by the Reporting Persons.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable.
Item 9.	Notice of Dissolution of Group.
	Not Applicable.
Item 10.	Certification.
	By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

	December 14, 2018
	Date
	/s/ Kim M. Silva
	Signature
	Kim M. Silva
	Attorney-in-fact for:
	SPO Partners II, L.P. (1)
	SPO Advisory Partners, L.P. (1)
	San Francisco Partners, L.P. (1)
	SF Advisory Partners, L.P. (1)
	SPO Advisory Corp. (1)
	John H. Scully (1)
	Phoebe Snow Foundation, Inc. (1)
	Eli J. Weinberg (1)
	Ronak R. Gandhi (2)

Exhibit	Document Description
A	Agreement Pursuant to Rule 13d-1(k)
B	Power of Attorney (previously filed on December 22, 2014)
C	Power of Attorney (previously filed on February 14, 2017)