Independent Financial Group, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed June 12, 2026), Independent Financial Group, LLC reported 1,014 stock positions worth $2.2 billion. Its top holding was Nvidia (NVDA) at 7.2% of the portfolio, followed by Apple (AAPL, 3.4%) and Microsoft (MSFT, 2.8%). Compared with Q4 2023, it opened 116 new positions, sold out of 50, added to 477 and reduced 364. The biggest buy was Nvidia (NVDA, shares +4%) and the biggest sale Tesla (TSLA, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0000275484
- Portfolio Value
- $2.2B (Q1 2024)
- SEC Filing
- 0000275484-26-000009 ↗ filed Jun 12, 2026
Holdings Value
Holdings 1,014 stocks · $2.2B
| NVDA Nvidia Corp. | 7.25% | 174,586 | $157.7M | Add +4.2% |
| AAPL Apple Inc. | 3.40% | 431,443 | $74.0M | Add +4.2% |
| MSFT Microsoft Corp. | 2.76% | 142,883 | $60.1M | Add +0.7% |
| AMZN Amazon.com Inc. | 2.42% | 292,510 | $52.8M | Add +2.4% |
| QQQ Invesco QQQ Trust Series 1 | 2.38% | 116,723 | $51.8M | Add +0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.92% | 80,080 | $41.9M | Add +11.7% |
| VTI VG Morningstar TS MKT ETF-US | 1.46% | 122,616 | $31.9M | Add +7.2% |
| AVGO Broadcom Inc. | 1.41% | 23,097 | $30.6M | Add +11.9% |
| IVV iShares Core S&P 500 ETF | 1.26% | 52,037 | $27.4M | Add +18.7% |
| COWZ Pacer US Cash Cows 100 ETF | 1.03% | 385,553 | $22.4M | Add +31.8% |
| LLY Eli Lilly & Co. | 0.90% | 25,136 | $19.6M | Add +18.0% |
| GOOG Alphabet Inc. Class C | 0.89% | 127,216 | $19.4M | Add +3.7% |
| TSLA Tesla Inc. | 0.88% | 108,866 | $19.1M | Reduce -3.2% |
| RDVY First Trust Rising Dividend | 0.85% | 330,690 | $18.6M | Add +64.7% |
| XLE SS Energy Select Sector | 0.83% | 191,216 | $18.1M | Add +2.5% |
| FSK FS KKR Capital Corp. | 0.81% | 925,337 | $17.6M | Add +6.1% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.80% | 355,641 | $17.5M | Add +54.9% |
| COST Costco Wholesale Corp. | 0.79% | 23,509 | $17.2M | Add +2.2% |
| XLK SS Technology Select Sector | 0.76% | 79,098 | $16.5M | Add +4.1% |
| IJH iShares Core S&P Midcap ETF | 0.70% | 251,927 | $15.3M | Add +8.9% |
| META Meta Platforms Inc. Class A | 0.69% | 30,722 | $14.9M | Add +19.2% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.68% | 271,384 | $14.7M | Add +27.5% |
| AMD Advanced Micro Devices | 0.57% | 69,167 | $12.5M | Add +22.7% |
| GOOGL Alphabet Inc. Class A | 0.56% | 80,732 | $12.2M | Add +1.5% |
| PDI PIMCO Dynamic Income Fund | 0.54% | 606,863 | $11.7M | Add +162.6% |
| BX Blackstone Inc. | 0.50% | 83,317 | $10.9M | Reduce -36.0% |
| MOAT Vaneck Morningstar Wide Moat | 0.49% | 118,089 | $10.6M | Add +10.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.48% | 32,759 | $10.5M | Add +21.8% |
| SDVY First Trust Smid Cap Rising | 0.48% | 300,917 | $10.5M | Add +69.3% |
| QYLD Global X Nasd 100 Cov Call | 0.47% | 571,267 | $10.2M | Add +25.6% |
| SMH Vaneck Semiconductor ETF | 0.47% | 45,244 | $10.2M | Add +54.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.46% | 23,938 | $10.1M | Add +9.8% |
| SCHD Schwab US DVD Equity ETF | 0.46% | 124,333 | $10.0M | Add +10.8% |
| V Visa Inc. Class A | 0.46% | 35,662 | $10.0M | Add +8.2% |
| GLD SPDR Gold Shares | 0.43% | 45,278 | $9.3M | Reduce -12.2% |
| QTEC First Trust Nasdq 100 Tech I | 0.42% | 48,061 | $9.2M | Add +0.0% |
| VOO Vanguard S&P 500 ETF | 0.41% | 18,513 | $8.9M | Add +12.6% |
| GARP iShares MSCI USA Quality Gar | 0.40% | 184,544 | $8.8M | New |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.40% | 140,592 | $8.7M | Add +49.9% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.40% | 21,710 | $8.6M | Add +42.3% |
| PANW Palo Alto Networks Inc. | 0.39% | 30,220 | $8.6M | Add +67.1% |
| JEPI JPMorgan Equity Premium Inco | 0.39% | 147,790 | $8.6M | Add +16.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.38% | 23,903 | $8.2M | Add +2.9% |
| PHYS Sprott Physical Gold Trust | 0.38% | 474,137 | $8.2M | Reduce -2.7% |
| TQQQ Proshares Ultrapro QQQ | 0.38% | 132,598 | $8.2M | Reduce -0.1% |
| TLT iShares 20+ Year Treasury BD | 0.37% | 84,420 | $8.0M | Reduce -13.6% |
| JPM JPMorgan Chase & Co. | 0.37% | 39,844 | $8.0M | Add +17.1% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.37% | 284,406 | $8.0M | Add +16.6% |
| WMT Walmart Inc. | 0.37% | 132,121 | $7.9M | Add +5.1% |
| XOM Exxon Mobil Corp. | 0.36% | 67,049 | $7.8M | Reduce -1.7% |
| HD Home Depot Inc. | 0.36% | 20,305 | $7.8M | Reduce -0.6% |
| CIBR First Trust Nasdaq Cybersecu | 0.36% | 137,906 | $7.8M | Add +37.6% |
| VZ Verizon Communications Inc. | 0.36% | 184,342 | $7.7M | Add +9.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.35% | 82,225 | $7.5M | Add +2.9% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.35% | 31,971 | $7.5M | Add +203.2% |
| ITOT iShares Core S&P Total U.S. | 0.34% | 64,715 | $7.5M | Add +12.1% |
| BIZD Vaneck BDC Income ETF | 0.34% | 439,345 | $7.4M | Add +22.3% |
| GBTC Grayscale Bitcoin Trust ETF | 0.33% | 115,345 | $7.3M | New |
| ARKK ARK Innovation ETF | 0.33% | 145,368 | $7.3M | Reduce -13.9% |
| IAU iShares Gold Trust | 0.33% | 171,214 | $7.2M | Add +0.3% |
| ITA iShares U.S. Aerospace & Def | 0.33% | 54,342 | $7.2M | Reduce -2.8% |
| TBIL F/M US Treasury 3 Month Bill | 0.33% | 142,512 | $7.1M | Add +1.1% |
| VYM Vanguard High DVD Yield ETF | 0.32% | 58,466 | $7.1M | Add +0.5% |
| ABBV Abbvie Inc. | 0.32% | 37,955 | $6.9M | Add +4.4% |
| QCOM Qualcomm Inc. | 0.32% | 40,678 | $6.9M | Reduce -7.9% |
| XLV SS Health Care Select Sector | 0.31% | 46,049 | $6.8M | Add +8.8% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.31% | 52,718 | $6.8M | Add +50.1% |
| JPST JPMorgan Ultra-Short Income | 0.31% | 132,013 | $6.7M | Reduce -1.2% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.31% | 103,688 | $6.7M | Reduce -2.5% |
| VIG Vanguard Dividend Apprec ETF | 0.30% | 36,189 | $6.6M | Reduce -0.4% |
| PECO Phillips Edison & Company Inc. | 0.30% | 183,791 | $6.6M | Add +2.0% |
| SHV iShares 0-1 Year Treasury Bo | 0.30% | 58,608 | $6.5M | Add +4.3% |
| SCHG Schwab US Large-Cap Growth | 0.29% | 68,815 | $6.4M | Reduce -8.5% |
| JAAA Janus Henderson Aaa Clo ETF | 0.29% | 123,834 | $6.3M | Add +31.2% |
| GAUG FT Vest US Equity Moderate B | 0.29% | 188,850 | $6.2M | Add +0.5% |
| SOXX iShares Semiconductor ETF | 0.28% | 27,276 | $6.2M | Add +13.2% |
| XYLD Global X S&P 500 Cove Call E | 0.28% | 149,256 | $6.1M | Add +14.6% |
| BKNG Booking Holdings Inc. | 0.28% | 1,662 | $6.0M | Reduce -4.9% |
| AMLP Alerian MLP ETF | 0.26% | 121,401 | $5.8M | Reduce -1.8% |
| BXSL Blackstone Secured Lending F | 0.26% | 179,935 | $5.6M | Reduce -31.7% |
| USMV iShares MSCI USA Min Vol Fac | 0.25% | 66,246 | $5.5M | Add +4.0% |
| CRM Salesforce Inc. | 0.25% | 18,384 | $5.5M | Reduce -0.9% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.25% | 18,648 | $5.3M | Add +26.2% |
| NFLX Netflix Inc. | 0.25% | 8,795 | $5.3M | Add +24.6% |
| SKYY First Trust Cloud Computing | 0.24% | 55,302 | $5.3M | Reduce -0.9% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.24% | 76,430 | $5.3M | Add +12.3% |
| ARCC Ares Capital Corp. | 0.24% | 251,126 | $5.2M | Reduce -1.0% |
| IWM iShares Russell 2000 ETF | 0.24% | 24,729 | $5.2M | Add +11.6% |
| IJR iShares Core S&P Small-Cap E | 0.24% | 46,754 | $5.2M | Add +8.6% |
| IYW iShares Ustechnology ETF | 0.24% | 38,040 | $5.1M | Reduce -0.4% |
| PFL PIMCO Income Strategy Fund | 0.23% | 588,699 | $5.0M | Add +3.1% |
| BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS | 0.23% | 157,341 | $5.0M | Reduce -6.1% |
| UNH Unitedhealth Group Inc. | 0.23% | 10,019 | $5.0M | Add +7.7% |
| KRE SS SPDR S&P Regional Bank | 0.22% | 97,255 | $4.9M | Reduce -9.0% |
| PFF iShares Preferred & Income S | 0.22% | 151,563 | $4.9M | Reduce -2.6% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.22% | 18,481 | $4.8M | Reduce -5.1% |
| ICOW Pacer Developed Markets Inte | 0.22% | 150,010 | $4.8M | Add +1.0% |
| GSLC Goldman Activebeta US LC ETF | 0.22% | 46,142 | $4.8M | Reduce -2.2% |
| FSCO FS Credit Opportunities Corp. | 0.22% | 802,840 | $4.8M | Reduce -23.5% |
| VGT Vanguard Info Tech ETF | 0.22% | 9,048 | $4.7M | Add +11.0% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $205K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | 14,750 | $202K | Reduce -25.1% |
| PAYOW Payoneer Global Inc.-CW27 | *W EXP 99/99/999 | 10,000 | $3K | No change |
Total filed on the 13F, all lines: $2.2B.
Portfolio Sells Q4 2023 → Q1 2024
| TSLA Tesla Inc. | Reduce -3.2% | 0.88% | −0.61 |
| BX Blackstone Inc. | Reduce -36.0% | 0.50% | −0.41 |
| EXCHANGE TRADED CONCEPTS TRU | Reduce -95.8% | 0.02% | −0.40 |
| ROUS Hartford Multifact US Eqty | Sold out | 0.00% | −0.20 |
| OBDC Blue Owl Capital Corp. | Reduce -61.7% | 0.08% | −0.16 |
| TLT iShares 20+ Year Treasury BD | Reduce -13.6% | 0.37% | −0.15 |
| HTGC Hercules Capital Inc. | Reduce -75.7% | 0.04% | −0.14 |
| ARKK ARK Innovation ETF | Reduce -13.9% | 0.33% | −0.14 |
| BXSL Blackstone Secured Lending F | Reduce -31.7% | 0.26% | −0.13 |
| LULU Lululemon Athletica Inc. | Reduce -79.6% | 0.02% | −0.13 |
| FCX Freeport-McMoran Inc. | Reduce -64.7% | 0.06% | −0.13 |
| MSTR Strategy Inc. | Reduce -89.5% | 0.04% | −0.12 |
| BA The Boeing Co. | Reduce -5.4% | 0.19% | −0.12 |
| ADBE Adobe Inc. | Reduce -27.5% | 0.14% | −0.12 |
| AGNC AGNC Investment Corp. | Reduce -42.9% | 0.12% | −0.12 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -36.4% | 0.15% | −0.12 |
| GLD SPDR Gold Shares | Reduce -12.2% | 0.43% | −0.10 |
| FSCO FS Credit Opportunities Corp. | Reduce -23.5% | 0.22% | −0.10 |
| IJK iShares S&P Mid-Cap 400 Grow | Reduce -78.4% | 0.03% | −0.10 |
| ESGU iShares ESG Aware MSCI USA | Reduce -65.0% | 0.04% | −0.09 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -23.6% | 0.19% | −0.09 |
| OKE Oneok Inc. | Reduce -57.6% | 0.06% | −0.08 |
| KRE SS SPDR S&P Regional Bank | Reduce -9.0% | 0.22% | −0.08 |
| VERA Vera Therapeutics Inc. | Sold out | 0.00% | −0.07 |
| TIP iShares Tips Bond ETF | Reduce -25.0% | 0.12% | −0.07 |
| COIN Coinbase Global Inc. Class A | Reduce -55.7% | 0.09% | −0.06 |
| FTSM First Trust Enh Short Mat FD | Reduce -10.9% | 0.19% | −0.06 |
| SBUX Starbucks Corp. | Reduce -13.5% | 0.14% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -4.9% | 0.28% | −0.05 |
| GNL Global Net Lease Inc. | Reduce -3.9% | 0.10% | −0.05 |
| GDX Vaneck Gold Miners ETF | Reduce -35.2% | 0.07% | −0.05 |
| JPST JPMorgan Ultra-Short Income | Reduce -1.2% | 0.31% | −0.05 |
| IYR iShares US Real Estate ETF | Reduce -59.5% | 0.03% | −0.05 |
| EXE Expand Energy Corp. | Reduce -63.4% | 0.03% | −0.05 |
| ITA iShares U.S. Aerospace & Def | Reduce -2.8% | 0.33% | −0.05 |
| UTWO F/M US Treasury 2 Year Note | Reduce -63.9% | 0.02% | −0.05 |
| BCD Abrdn Bloomberg All Commodit | Reduce -6.1% | 0.23% | −0.05 |
| INTC Intel Corp. | Reduce -15.7% | 0.08% | −0.05 |
| CZR Caesars Entertainment Inc. | Reduce -21.9% | 0.08% | −0.04 |
| ROKU Roku Inc. | Reduce -2.0% | 0.07% | −0.04 |
| MCD McDonald's Corp. | Reduce -12.5% | 0.11% | −0.04 |
| MDB Mongodb Inc. | Reduce -7.2% | 0.10% | −0.04 |
| SCHG Schwab US Large-Cap Growth | Reduce -8.5% | 0.29% | −0.04 |
| DVY iShares Select Dividend ETF | Reduce -21.7% | 0.10% | −0.04 |
| NEWT Newtekone Inc. | Sold out | 0.00% | −0.04 |
| JOUT Johnson Outdoors Inc. Class A | Sold out | 0.00% | −0.04 |
| PHYS Sprott Physical Gold Trust | Reduce -2.7% | 0.38% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -10.8% | 0.11% | −0.04 |
| S Sentinelone Inc. Class A | Sold out | 0.00% | −0.04 |
| PFF iShares Preferred & Income S | Reduce -2.6% | 0.22% | −0.04 |
Portfolio Buys Q4 2023 → Q1 2024
| NVDA Nvidia Corp. | Add +4.2% | 7.25% | +2.81 |
| GARP iShares MSCI USA Quality Gar | New | 0.40% | +0.40 |
| GBTC Grayscale Bitcoin Trust ETF | New | 0.33% | +0.33 |
| PDI PIMCO Dynamic Income Fund | Add +162.6% | 0.54% | +0.32 |
| RDVY First Trust Rising Dividend | Add +64.7% | 0.85% | +0.30 |
| LLY Eli Lilly & Co. | Add +18.0% | 0.90% | +0.23 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +203.2% | 0.35% | +0.22 |
| COWZ Pacer US Cash Cows 100 ETF | Add +31.8% | 1.03% | +0.22 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Add +54.9% | 0.80% | +0.21 |
| META Meta Platforms Inc. Class A | Add +19.2% | 0.69% | +0.20 |
| SMH Vaneck Semiconductor ETF | Add +54.0% | 0.47% | +0.19 |
| AVGO Broadcom Inc. | Add +11.9% | 1.41% | +0.17 |
| SDVY First Trust Smid Cap Rising | Add +69.3% | 0.48% | +0.17 |
| IVV iShares Core S&P 500 ETF | Add +18.7% | 1.26% | +0.14 |
| AMD Advanced Micro Devices | Add +22.7% | 0.57% | +0.13 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +49.9% | 0.40% | +0.12 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +50.1% | 0.31% | +0.12 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +21.8% | 0.48% | +0.12 |
| PANW Palo Alto Networks Inc. | Add +67.1% | 0.39% | +0.11 |
| JEPQ JPM Nasdaq Equity Premium | Add +27.5% | 0.68% | +0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +11.7% | 1.92% | +0.10 |
| AMZN Amazon.com Inc. | Add +2.4% | 2.42% | +0.10 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +119.3% | 0.20% | +0.10 |
| DIA SS SPDR Dow Jones Indus Avg | Add +42.3% | 0.40% | +0.09 |
| IEMG iShares Core MSCI Emerging | Add +110.4% | 0.16% | +0.07 |
| CIBR First Trust Nasdaq Cybersecu | Add +37.6% | 0.36% | +0.07 |
| PSFF Pacer Swan Sos Fund of Funds | Add +138.6% | 0.13% | +0.07 |
| NFLX Netflix Inc. | Add +24.6% | 0.25% | +0.06 |
| PSX Phillips 66 | Add +42.4% | 0.18% | +0.06 |
| XLC SS Comm Select Sector SPDR | Add +59.4% | 0.17% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +17.1% | 0.37% | +0.06 |
| QYLD Global X Nasd 100 Cov Call | Add +25.6% | 0.47% | +0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.8% | 0.46% | +0.05 |
| MU Micron Technology Inc. | Add +76.0% | 0.09% | +0.05 |
| MRVL Marvell Technology Inc. | Add +400.9% | 0.06% | +0.04 |
| CLSK Cleanspark Inc. | New | 0.04% | +0.04 |
| MRK Merck & Co. Inc. | Add +19.4% | 0.22% | +0.04 |
| RFI Cohen & Steers Tot Ret RLTY | New | 0.04% | +0.04 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +26.2% | 0.25% | +0.04 |
| BOXX Alpha Architect 1-3 MNTH Box | New | 0.04% | +0.04 |
| GE General Electric | Add +20.3% | 0.13% | +0.04 |
| YEAR AB Ultra Short Income ETF | New | 0.04% | +0.04 |
| DVN Devon Energy Corp. | Add +65.1% | 0.10% | +0.04 |
| HDGE Advisorshares Active Bear Et | Add +71.9% | 0.11% | +0.04 |
| XLF SS Financial Select Sector | Add +29.7% | 0.18% | +0.04 |
| CAT Caterpillar Inc. | Add +21.2% | 0.16% | +0.04 |
| SOXX iShares Semiconductor ETF | Add +13.2% | 0.28% | +0.04 |
| JAAA Janus Henderson Aaa Clo ETF | Add +31.2% | 0.29% | +0.03 |
| WYNN WYNN Resorts Ltd. | New | 0.03% | +0.03 |
| JANT Allianzim US Eq BFFR10 JN-US | New | 0.03% | +0.03 |
Notes & Other Activity Q4 2023 → Q1 2024
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | Reduce -25.1% | 14,750 | $202K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,541 | $5.3B | NVDA, QQQ, AAPL, MU, AVGO |
| Q1 2026Amended | 1,444 | $4.5B | NVDA, AAPL, QQQ, AVGO, AMZN |
| Q4 2025 | 1,404 | $4.5B | NVDA, AAPL, QQQ, AVGO, MSFT |
| Q3 2025 | 1,353 | $4.2B | NVDA, AAPL, AVGO, QQQ, MSFT |
| Q2 2025 | 1,284 | $3.6B | NVDA, AAPL, QQQ, AVGO, MSFT |
| Q1 2025 | 1,173 | $2.9B | NVDA, AAPL, QQQ, AMZN, AVGO |
| Q4 2024 | 1,155 | $3.0B | NVDA, AAPL, AVGO, AMZN, MSFT |
| Q3 2024 | 1,126 | $2.7B | NVDA, AAPL, AVGO, MSFT, QQQ |
| Q2 2024 | 1,087 | $2.5B | NVDA, AAPL, MSFT, QQQ, AMZN |
| Q1 2024 | 1,014 | $2.2B | NVDA, AAPL, MSFT, AMZN, QQQ |