Independent Financial Group, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Independent Financial Group, LLC reported 1,444 stock positions worth $4.5 billion. Its top holding was Nvidia (NVDA) at 6.6% of the portfolio, followed by Apple (AAPL, 2.8%) and Invesco QQQ Trust Series 1 (QQQ, 2.4%). Compared with Q4 2025, it opened 149 new positions, sold out of 109, added to 643 and reduced 556. The biggest buy was Vanguard Total Bond Market (BND, shares +109%) and the biggest sale Nvidia (NVDA, shares −1%).

Most Recent 13F
Q2 2026
Location
SAN DIEGO, CA
CIK
0000275484
Portfolio Value
$4.5B (Q1 2026)
SEC Filing
0000275484-26-000006 ↗ filed May 15, 2026

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $2.2B Q1 2024 Q2 2024: $2.5B Q2 2024 Q3 2024: $2.7B Q3 2024 Q4 2024: $3.0B Q4 2024 Q1 2025: $2.9B Q1 2025 Q2 2025: $3.6B Q2 2025 Q3 2025: $4.2B Q3 2025 Q4 2025: $4.5B Q4 2025 Q1 2026: $4.5B $4.5B Q1 2026 Q2 2026: $5.3B Q2 2026

Holdings 1,444 stocks · $4.5B

NVDA Nvidia Corp. 6.61% 1,690,306 $294.8M Reduce -1.4%
AAPL Apple Inc. 2.80% 492,087 $124.9M Reduce -1.1%
QQQ Invesco QQQ Trust Series 1 2.39% 184,658 $106.6M Reduce -4.2%
AVGO Broadcom Inc. 2.15% 310,121 $96.0M Reduce -6.5%
AMZN Amazon.com Inc. 1.79% 383,080 $79.8M Add +2.2%
PAAA Pgim Aaa Clo ETF 1.72% 1,493,640 $76.4M Add +0.6%
SPY SS SPDR S&P 500 ETF Trust-US 1.55% 106,085 $69.0M Reduce -2.7%
MSFT Microsoft Corp. 1.54% 185,111 $68.5M Add +0.9%
IVV iShares Core S&P 500 ETF 1.38% 94,167 $61.5M Add +0.8%
VTI VG Morningstar TS MKT ETF-US 1.00% 139,532 $44.8M Reduce -0.2%
PLTR Palantir Technologies Inc. Class A 0.98% 299,614 $43.8M Reduce -7.1%
GOOG Alphabet Inc. Class C 0.91% 141,875 $40.7M Reduce -1.8%
COST Costco Wholesale Corp. 0.78% 34,887 $34.8M Reduce -0.3%
GLD SPDR Gold Shares 0.78% 80,696 $34.7M Reduce -5.1%
SPYM Ste STR SPDR PT S&P 500 ETF 0.78% 452,181 $34.6M Add +10.9%
GOOGL Alphabet Inc. Class A 0.76% 118,248 $34.0M Reduce -1.4%
META Meta Platforms Inc. Class A 0.74% 57,643 $33.0M Reduce -2.9%
TSLA Tesla Inc. 0.73% 87,789 $32.6M Add +2.8%
TSM Taiwan Semiconductor-SP ADR 0.68% 89,035 $30.1M Add +16.6%
XLK SS Technology Select Sector 0.66% 221,607 $29.5M Add +2.6%
MU Micron Technology Inc. 0.65% 85,275 $28.8M Reduce -5.3%
BUFR FT Vest Lad Buffervetf-Usd I 0.64% 843,779 $28.5M Add +11.9%
JAAA Janus Henderson Aaa Clo ETF 0.61% 535,660 $27.0M Reduce -0.3%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.60% 632,427 $26.9M Add +12.6%
BND Vanguard Total Bond Market 0.58% 353,289 $26.0M Add +109.1%
RDVY First Trust Rising Dividend 0.55% 360,739 $24.6M Add +11.5%
VOO Vanguard S&P 500 ETF 0.54% 40,317 $24.1M Add +11.9%
GARP iShares MSCI USA Quality Gar 0.54% 373,937 $23.9M Add +1.0%
SMH Vaneck Semiconductor ETF 0.51% 58,751 $22.5M Add +0.2%
QQQI Neos Nasdaq-100 High Inc. ETF 0.50% 446,756 $22.2M Add +3.1%
COWZ Pacer US Cash Cows 100 ETF 0.49% 349,193 $21.8M Reduce -5.6%
IWM iShares Russell 2000 ETF 0.47% 84,381 $20.9M Add +107.5%
WMT Walmart Inc. 0.46% 163,734 $20.3M Add +0.3%
IJH iShares Core S&P Midcap ETF 0.44% 289,291 $19.5M Reduce -2.5%
SLV iShares Silver Trust 0.43% 283,261 $19.3M Reduce -29.8%
BPRE Bluerock Private Real Estate 0.43% 1,156,813 $19.2M Add +34.7%
SPYG SS SPDR P S&P 500 Growth ETF 0.41% 188,716 $18.5M Add +6.7%
BRK.B Berkshire Hathaway Inc. Class B 0.40% 37,626 $18.0M Add +0.9%
QQQE Dirx Nasdaq-100EQ Wi ETF-Usd 0.39% 174,972 $17.2M Reduce -11.5%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.39% 309,893 $17.2M Reduce -2.7%
BIZD Vaneck BDC Income ETF 0.38% 1,319,469 $16.9M Reduce -3.2%
SDVY First Trust Smid Cap Rising 0.37% 418,090 $16.5M Add +4.3%
XOM Exxon Mobil Corp. 0.37% 96,212 $16.3M Add +35.0%
NFLX Netflix Inc. 0.37% 169,612 $16.3M Add +7.7%
ITOT iShares Core S&P Total U.S. 0.36% 112,955 $16.1M Add +6.3%
JPST JPMorgan Ultra-Short Income 0.35% 312,515 $15.8M Reduce -3.5%
AMD Advanced Micro Devices 0.35% 76,703 $15.6M Add +0.9%
GDX Vaneck Gold Miners ETF 0.34% 166,544 $15.3M Reduce -13.6%
SNTH MRP Synthequity ETF 0.33% 566,706 $14.9M Reduce -1.8%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.33% 57,328 $14.8M Add +0.9%
VOD Vodafone Group PLC-SP ADR 0.33% 976,548 $14.7M Add +5.9%
DYNF Ishrs US E F R A ETF-Usd Inc. 0.32% 247,197 $14.4M Reduce -7.2%
XLE SS Energy Select Sector 0.32% 233,796 $14.3M Add +43.2%
FSK FS KKR Capital Corp. 0.32% 1,396,710 $14.2M Reduce -9.8%
VUG Vanguard Mrngstar GR ETF-Sui 0.32% 32,419 $14.2M Add +2.6%
JBBB Janus Henderson B-BBB Clo Et 0.30% 283,261 $13.2M Add +3.1%
SCHD Schwab US DVD Equity ETF 0.29% 426,385 $13.1M Add +16.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.29% 53,837 $13.0M Reduce -13.6%
SCHG Schwab US Large-Cap Growth 0.29% 446,342 $13.0M Add +6.5%
IJS iShares S&P Small-Cap 600 Va 0.29% 108,686 $12.9M Add +269.4%
SGOV iShares 0-3 Month Treasury B 0.29% 127,165 $12.8M Reduce -21.9%
PDI PIMCO Dynamic Income Fund 0.28% 731,544 $12.5M Add +0.3%
TQQQ Proshares Ultrapro QQQ 0.28% 298,228 $12.4M Add +12.2%
JPM JPMorgan Chase & Co. 0.28% 41,936 $12.3M Reduce -13.7%
ITA iShares U.S. Aerospace & Def 0.27% 55,944 $12.2M Add +2.0%
MOAT Vaneck Morningstar Wide Moat 0.27% 126,479 $12.2M Reduce -2.0%
GEV GE Vernova Inc. 0.27% 13,582 $11.9M Add +23.7%
CORO Ish Intl CTRY Rot Act ETF 0.26% 353,597 $11.4M New
CAT Caterpillar Inc. 0.25% 15,957 $11.3M Reduce -0.7%
SMA Smartstop Self Storage REIT 0.25% 369,641 $11.2M Add +2.2%
CIBR First Trust Nasdaq Cybersecu 0.25% 177,059 $11.1M Reduce -2.2%
IAU iShares Gold Trust 0.25% 125,483 $11.1M Reduce -23.6%
FDT First Trust Develp MKT Ex-US 0.24% 125,226 $10.9M Add +12.3%
VYMI Vanguard Int High DVD YLD Inc. 0.24% 113,941 $10.7M Add +4.1%
LLY Eli Lilly & Co. 0.24% 11,615 $10.7M Reduce -10.5%
VYM Vanguard High DVD Yield ETF 0.24% 72,110 $10.7M Add +8.0%
JEPI JPMorgan Equity Premium Inco 0.24% 187,928 $10.7M Add +0.6%
BIL SS SPDR BB 1-3M T-Bill ETF 0.24% 115,148 $10.6M Reduce -11.9%
MSTR Strategy Inc. 0.24% 84,224 $10.5M Add +3.9%
SOXX iShares Semiconductor ETF 0.24% 31,915 $10.5M Add +25.8%
JQUA JPMorgan US Quality Factor 0.24% 170,851 $10.5M Add +3.2%
RWJ Invesco S&P Smallcap 600 0.23% 203,532 $10.3M Reduce -0.2%
VGT Vanguard Info Tech ETF 0.23% 14,715 $10.3M Add +2.0%
HD Home Depot Inc. 0.23% 31,149 $10.2M Add +2.2%
QUAL iShares MSCI USA Quality Fac 0.23% 53,252 $10.2M Add +0.7%
IJK iShares S&P Mid-Cap 400 Grow 0.23% 100,594 $10.1M Add +619.3%
ABBV Abbvie Inc. 0.23% 46,453 $10.1M Add +5.2%
QQQM Invesco Nasdaq 100 ETF 0.22% 41,652 $9.9M Add +14.8%
VZ Verizon Communications Inc. 0.22% 196,912 $9.9M Add +37.4%
RSP Invesco S&P 500 Equal Weight 0.22% 50,978 $9.8M Add +13.9%
ICOW Pacer Developed Markets Inte 0.22% 229,090 $9.7M Add +2.4%
CVX Chevron Corp. 0.22% 46,563 $9.6M Add +53.3%
V Visa Inc. Class A 0.21% 31,577 $9.5M Reduce -3.5%
FLRT Pacer Aristotle Pacific Floa 0.21% 203,383 $9.4M Add +36.2%
SPTM SS SPDR P S&P 1500 Comp ETF 0.21% 118,409 $9.4M Add +0.4%
FTCB FT Core Investment Grade ETF 0.21% 437,145 $9.2M Add +404.6%
PSEC Prospect Capital Corp. 0.20% 3,460,351 $9.0M Add +155.4%
UYLD Angel Oak Ultrashort Income 0.20% 176,778 $9.0M Reduce -0.4%
VIG Vanguard Dividend Apprec ETF 0.20% 41,732 $9.0M Add +1.6%
SPYV SS SPDR P S&P 500 Value ETF 0.20% 157,612 $8.9M Reduce -3.4%

Show all 1,444 holdings

Other holdings (3): bonds, preferreds, convertibles and warrants · $930K (not counted above)
SecurityClassShares / PrincipalValueChange
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 12,970$917KAdd +2.4%
CCIXW Churchill Capital Corp. I-29 *W EXP 03/31/203 20,000$9KNew
GABELLI EQUITY TRUST-RT RIGHT 04/14/2026 583,290$4KAdd +7.7%

Total filed on the 13F, all lines: $4.5B.

Portfolio Sells Q4 2025 → Q1 2026

NVDA Nvidia Corp. Reduce -1.4% 6.61% −0.52
AVGO Broadcom Inc. Reduce -6.5% 2.15% −0.41
PLTR Palantir Technologies Inc. Class A Reduce -7.1% 0.98% −0.30
QQQ Invesco QQQ Trust Series 1 Reduce -4.2% 2.39% −0.25
AAPL Apple Inc. Reduce -1.1% 2.80% −0.22
FSK FS KKR Capital Corp. Reduce -9.8% 0.32% −0.19
OEF iShares S&P 100 ETF Reduce -80.3% 0.04% −0.18
SLV iShares Silver Trust Reduce -29.8% 0.43% −0.15
FTSM First Trust Enh Short Mat FD Reduce -62.5% 0.09% −0.15
META Meta Platforms Inc. Class A Reduce -2.9% 0.74% −0.13
IBM Intl Business Machines Corp. Reduce -13.6% 0.29% −0.12
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.7% 1.55% −0.11
APP AppLovin Corp. Class A Reduce -33.4% 0.07% −0.10
GOOG Alphabet Inc. Class C Reduce -1.8% 0.91% −0.10
IYW iShares Ustechnology ETF Reduce -44.6% 0.09% −0.09
EFV iShares MSCI Eafe Value ETF Reduce -34.9% 0.18% −0.09
BX Blackstone Inc. Reduce -35.3% 0.08% −0.08
SGOV iShares 0-3 Month Treasury B Reduce -21.9% 0.29% −0.08
GOOGL Alphabet Inc. Class A Reduce -1.4% 0.76% −0.07
GOVT iShares US Treasury Bond ETF Reduce -66.1% 0.04% −0.07
JPM JPMorgan Chase & Co. Reduce -13.7% 0.28% −0.07
LLY Eli Lilly & Co. Reduce -10.5% 0.24% −0.07
IVW iShares S&P 500 Growth ETF Reduce -34.0% 0.11% −0.07
HOOD Robinhood Markets Inc. Class A Reduce -69.3% 0.02% −0.07
QQQE Dirx Nasdaq-100EQ Wi ETF-Usd Reduce -11.5% 0.39% −0.06
SOFI Sofi Technologies Inc. Reduce -43.9% 0.03% −0.06
CRWD CrowdStrike Holdings Inc. Class A Reduce -8.9% 0.20% −0.06
AGNC AGNC Investment Corp. Reduce -22.4% 0.16% −0.06
SPHY SS SPDR P High Yield ETF Reduce -67.9% 0.02% −0.05
BIZD Vaneck BDC Income ETF Reduce -3.2% 0.38% −0.05
IBUF Innv Id 10 Buffer ETF Qurtly Reduce -58.5% 0.04% −0.05
IAU iShares Gold Trust Reduce -23.6% 0.25% −0.05
IGSB iShares 1-5Y Inv Grade Corp. Reduce -67.8% 0.02% −0.05
QBUF Innv Nasdaq -100 10 B - QRT Reduce -51.2% 0.05% −0.05
IYH iShares U.S. Healthcare ETF Reduce -50.7% 0.04% −0.05
SPYI Neos S&P 500 High Income ETF Reduce -13.7% 0.19% −0.04
BKNG Booking Holdings Inc. Reduce -6.6% 0.12% −0.04
XLC SS Comm Select Sector SPDR Reduce -13.0% 0.20% −0.04
CION Cion Investment Corp. Reduce -80.2% 0.01% −0.04
V Visa Inc. Class A Reduce -3.5% 0.21% −0.04
VTI VG Morningstar TS MKT ETF-US Reduce -0.2% 1.00% −0.04
FNGO Microsectors Fang Index 2X L Reduce -17.1% 0.07% −0.04
ECC Eagle Point Credit Co. Sold out 0.00% −0.04
ZS Zscaler Inc. Reduce -7.6% 0.06% −0.04
CIBR First Trust Nasdaq Cybersecu Reduce -2.2% 0.25% −0.04
DYNF Ishrs US E F R A ETF-Usd Inc. Reduce -7.2% 0.32% −0.04
BSCX Invesco Bulletshares 2033 CB Reduce -27.9% 0.10% −0.04
CEG Constellation Energy Reduce -19.0% 0.07% −0.04
AFRM Affirm Holdings Inc. Reduce -49.6% 0.02% −0.04
IYZ iShares US Telecommunication Reduce -82.8% 0.01% −0.04

Portfolio Buys Q4 2025 → Q1 2026

BND Vanguard Total Bond Market Add +109.1% 0.58% +0.30
CORO Ish Intl CTRY Rot Act ETF New 0.26% +0.26
IWM iShares Russell 2000 ETF Add +107.5% 0.47% +0.25
IJS iShares S&P Small-Cap 600 Va Add +269.4% 0.29% +0.21
IJK iShares S&P Mid-Cap 400 Grow Add +619.3% 0.23% +0.20
XOM Exxon Mobil Corp. Add +35.0% 0.37% +0.17
FTCB FT Core Investment Grade ETF Add +404.6% 0.21% +0.16
XLE SS Energy Select Sector Add +43.2% 0.32% +0.16
TSM Taiwan Semiconductor-SP ADR Add +16.6% 0.68% +0.16
BPRE Bluerock Private Real Estate Add +34.7% 0.43% +0.14
ISVL iShares International Develo Add +971.0% 0.16% +0.14
TOPT iShares Top 20 US Stocks ETF Add +314.6% 0.19% +0.14
PSEC Prospect Capital Corp. Add +155.4% 0.20% +0.12
CSHI Neos Enhanced Income 1-3 Mon Add +494.2% 0.15% +0.12
CVX Chevron Corp. Add +53.3% 0.22% +0.11
VEA Vanguard Ftse Developed ETF Add +158.4% 0.17% +0.11
GEV GE Vernova Inc. Add +23.7% 0.27% +0.11
OXY Occidental Petroleum Corp. Add +837.1% 0.11% +0.10
VZ Verizon Communications Inc. Add +37.4% 0.22% +0.09
BLCR iShares LRG CP CR Act ETF-Ui New 0.08% +0.08
RFLR Innovator US S Cap MNG F ETF Add +355.9% 0.09% +0.07
IGEB iShares Investment Grade SYS New 0.07% +0.07
CIEN Ciena Corp. Add +87.6% 0.10% +0.07
IEMG iShares Core MSCI Emerging Add +59.7% 0.17% +0.07
SCHD Schwab US DVD Equity ETF Add +16.3% 0.29% +0.07
SOXX iShares Semiconductor ETF Add +25.8% 0.24% +0.06
T AT&T Inc. Add +65.1% 0.13% +0.06
SNDK Sandisk Corp. Add +22.0% 0.09% +0.06
INFL Horizon Kinetics Infl Benef New 0.06% +0.06
BUFR FT Vest Lad Buffervetf-Usd I Add +11.9% 0.64% +0.06
CGIC Cap Group Intl Core Eq Add +60.0% 0.16% +0.06
FMDE Fidelity Enhanced Mid Cap Co. Add +471.7% 0.07% +0.06
QFLR Innovator Nasdaq-100 MF ETF Add +177.9% 0.09% +0.06
VOD Vodafone Group PLC-SP ADR Add +5.9% 0.33% +0.06
CGDV Cap Group Dividend Value Add +12.6% 0.60% +0.06
XOP SS SPDR S&P Og Exp & Prod Add +382.4% 0.06% +0.05
FLRT Pacer Aristotle Pacific Floa Add +36.2% 0.21% +0.05
AMAT Applied Materials Inc. Add +48.4% 0.11% +0.05
FIIG FT Intermed Dur Ig Corp. ETF Add +567.6% 0.06% +0.05
RDVY First Trust Rising Dividend Add +11.5% 0.55% +0.05
WMT Walmart Inc. Add +0.3% 0.46% +0.05
VTV Vanguard Mrngstr Val ETF-Aui Add +40.7% 0.16% +0.05
ENFR Alerian Energy Infrastructur Add +20.9% 0.15% +0.05
VXUS Vanguard Total Intl Stock Add +44.5% 0.15% +0.05
XAGG Ev Income Opportunities ETF Add +386.0% 0.06% +0.05
SPYM Ste STR SPDR PT S&P 500 ETF Add +10.9% 0.78% +0.05
FDT First Trust Develp MKT Ex-US Add +12.3% 0.24% +0.05
XLI SS Industrial Select Sector Add +35.7% 0.15% +0.05
BUFY Ftvest Lddrdintlmod Buff ETF New 0.04% +0.04
XLB SS Materials Select Sector Add +114.9% 0.08% +0.04

Notes & Other Activity Q4 2025 → Q1 2026

STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF Add +2.4% 12,970 $917K
CCIXW Churchill Capital Corp. I-29 *W EXP 03/31/203 New 20,000 $9K
GABELLI EQUITY TRUST-RT RIGHT 04/14/2026 Add +7.7% 583,290 $4K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1,541$5.3BNVDA, QQQ, AAPL, MU, AVGO
Q1 2026Amended 1,444$4.5BNVDA, AAPL, QQQ, AVGO, AMZN
Q4 2025 1,404$4.5BNVDA, AAPL, QQQ, AVGO, MSFT
Q3 2025 1,353$4.2BNVDA, AAPL, AVGO, QQQ, MSFT
Q2 2025 1,284$3.6BNVDA, AAPL, QQQ, AVGO, MSFT
Q1 2025 1,173$2.9BNVDA, AAPL, QQQ, AMZN, AVGO
Q4 2024 1,155$3.0BNVDA, AAPL, AVGO, AMZN, MSFT
Q3 2024 1,126$2.7BNVDA, AAPL, AVGO, MSFT, QQQ
Q2 2024 1,087$2.5BNVDA, AAPL, MSFT, QQQ, AMZN
Q1 2024 1,014$2.2BNVDA, AAPL, MSFT, AMZN, QQQ