Yes, presumably it's mostly apo and not holo, which is the one already bound with iron.
The picture with lactoferrin is a bit more complex then I initially alluded to/thought. Lactoferrin has a very strong affinity for iron, much stronger then the main iron transporter transferin. Apolactoferrin helps in transporting ferric iron (Fe3) from the gut to the body and it has a host of actions inside the body. The iron which gets sequestered by lactoferrin in the serum (mostly NTBI) does not get lost like it would with other chelators, but rather the body still uses it, it can even cross the BBB. This is achieved via lactoferrin receptors which are present on select tissues (mostly brain, gut, liver and immune cells). Once it enters the cells the iron can disassociate from lactoferrin due to the acidic environment and then it can get stored as ferritin. Otherwise it has a modulating effect; helps elevate iron when it is low and vice versa.
The overall modulating effect of lactoferrin is thus a bit more complex and the end result might vary individual to individual. I'd recommend using lactoferrin alongside an iron supplement which is in ferric form. This would presumably help increase iron bioavailability which in turn would mean one could take lower dosages of iron supps. In hopes of raising iron, one could also take hololactoferrin, as this is one of the most bioavailable forms of iron.