FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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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1. Name and Address of Reporting Person * Hellman & Friedman LLC   2. Issuer Name and Ticker or Trading Symbol LPL Investment Holdings Inc. [LPLA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) ONE MARITIME PLAZA, 12TH FLOOR 3. Date of Earliest Transaction (Month/Day/Year) 02/16/2011 (Street) SAN FRANCISCO, CA 94111 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.001 per share 02/16/2011   A   2,661.8 (1) A $ 0 30,080,256.5 I See Notes (2) (4) (5) Common Stock, par value $0.001 per share 02/16/2011   A   364.2 (1) A $ 0 4,115,849.5 I See Notes (3) (4) (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Hellman & Friedman LLC ONE MARITIME PLAZA 12TH FLOOR SAN FRANCISCO, CA 94111	X	X
Hellman & Friedman Investors V, L.P. ONE MARITIME PLAZA 12TH FLOOR SAN FRANCISCO, CA 94111	X	X
HELLMAN & FRIEDMAN CAPITAL V LP ONE MARITIME PLAZA 12TH FLOOR SAN FRANCISCO, CA 94111	X	X
Hellman & Friedman Capital Partners V (Parallel), L.P. ONE MARITIME PLAZA 12TH FLOOR SAN FRANCISCO, CA 94111	X	X

Signatures

/s/ Philip U. Hammarskjold as Managing Director of Hellman & Friedman LLC		02/18/2011
**Signature of Reporting Person		Date
/s/ Philip U. Hammarskjold as Managing Director of Hellman & Friedman LLC, as General Partner of Hellman & Friedman Investors V, L.P.		02/18/2011
**Signature of Reporting Person		Date
/s/ Philip U. Hammarskjold as Managing Director of Hellman & Friedman LLC, as General Partner of Hellman & Friedman Investors V, L.P., as General Partner of Hellman & Friedman Capital Partners V, L.P		02/18/2011
**Signature of Reporting Person		Date
/s/ Philip U. Hammarskjold as Managing Director of Hellman & Friedman LLC, as General Partner of Hellman & Friedman Investors V, L.P., as General Partner of Hellman & Friedman Capital Partners V (Parallel), L.P.		02/18/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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)	These shares represent restricted stock granted under the Issuer's 2010 Omnibus Equity Incentive Plan. This restricted stock shall be fully vested on the second anniversary of the transaction date.
(2)	This Common Stock is held, in equal amounts, by Allen R. Thorpe and Erik D. Ragatz, for the benefit of Hellman & Friedman Capital Partners V, L.P.
(3)	This Common Stock is held, in equal amounts, by Mr. Thorpe and Mr. Ragatz, for the benefit of Hellman & Friedman Capital Partners V (Parallel), L.P.
(4)	This Common Stock is held by Mr. Thorpe and Mr. Ragatz for the benefit of Hellman & Friedman Capital Partners V, L.P. and Hellman & Friedman Capital Partners V (Parallel), L.P. (collectively, the "HF Entities"). Hellman & Friedman Investors V, L.P. is the sole general partner of each of the H&F Entities. Hellman & Friedman LLC, in turn, is the sole general partner of Hellman & Friedman Investors V, L.P.
(5)	A four member investment committee of Hellman & Friedman LLC has investment discretion over such shares beneficially owned by the HF Entities. Mr. Thorpe and Mr. Ragatz are managing directors of Hellman & Friedman LLC, but are not members of the investment committee. Each member of the investment committee of Hellman & Friedman LLC disclaims beneficial ownership of the reported shares beneficially owned by the HF Entities, except to the extent of such member's respective pecuniary interest therein, if any.
Remarks: Pursuant to Rule 16a-1(a)(4), of the Securities Exchange Act of 1934, as amended, the Reporting Person states that this filing shall not be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.

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