Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Kalbaugh John Andrew
 2. Date of Event Requiring Statement (Month/Day/Year)
05/01/2012		 3. Issuer Name and Ticker or Trading Symbol
LPL Investment Holdings Inc. [LPLA]
(Last)
(First)
(Middle)
C/O LPL INVESTMENT HOLDINGS INC., ONE BEACON STREET, 22ND FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
MD, Institution Services
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BOSTON, MA 02108		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Option to purchase common stock   (1) 08/20/2017 Common Stock 30,000 $ 25.5 D  
Option to purchase common stock   (2) 06/10/2018 Common Stock 10,000 $ 27.17 D  
Option to purchase common stock   (3) 09/14/2019 Common Stock 40,000 $ 22.08 D  
Option to purchase common stock   (4) 12/22/2020 Common Stock 19,600 $ 34.61 D  
Option to purchase common stock   (5) 02/09/2022 Common Stock 25,635 $ 32.26 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Kalbaugh John Andrew
C/O LPL INVESTMENT HOLDINGS INC.
ONE BEACON STREET, 22ND FLOOR
BOSTON, MA 02108		       MD, Institution Services  

Signatures

/s/ John Andrew Kalbaugh 05/08/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This option is currently exercisable as to 24,000 shares. The remaining award will become exercisable on August 20, 2012.
(2) This option is currently exercisable as to 6,000 shares. The remaining award will become exercisable in increments of 2,000 shares on each of June 10, 2012 and June 10, 2013.
(3) This option is currently exercisable as to 16,000 shares. The remaining award will become exercisable in increments of 8,000 shares on each of September 14, 2012, 2013 and 2014.
(4) This option is currently exercisable as to 3,920 shares. The remaining award will become exercisable in increments of 3,920 shares on each of December 22, 2012, 2013, 2014 and 2015.
(5) This option is not currently exercisable as to any shares. The award will become exercisable in increments of 5,127 shares on each of February 9, 2013, 2014, 2015, 2016 and 2017.

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