Kestra Advisory Services, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Kestra Advisory Services, LLC reported 2,874 stock positions worth $21.8 billion. Its top holding was Apple (AAPL) at 3.1% of the portfolio, followed by Nvidia (NVDA, 2.4%) and Parker Hannifin (PH, 2.1%). Compared with Q2 2025, it opened 246 new positions, sold out of 171, added to 1,366 and reduced 1,209. The biggest buy was Apple (AAPL, shares +4%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001830819
- Portfolio Value
- $21.8B (Q3 2025)
- SEC Filing
- 0001830819-25-000013 ↗ filed Nov 14, 2025
Holdings Value
Holdings 2,874 stocks · $21.8B
| AAPL Apple Inc. | 3.09% | 2,652,334 | $675.4M | Add +3.7% |
| NVDA Nvidia Corp. | 2.41% | 2,815,090 | $525.2M | Add +3.6% |
| PH Parker Hannifin Corp. | 2.13% | 613,629 | $465.2M | Add +0.1% |
| MSFT Microsoft Corp. | 2.13% | 896,117 | $464.1M | Add +11.3% |
| IVV iShares Core S&P 500 ETF | 2.03% | 660,367 | $442.0M | Reduce -9.9% |
| QQQ Invesco QQQ Trust Series 1 | 1.72% | 624,727 | $375.1M | Reduce -1.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.41% | 461,854 | $307.7M | Add +1.8% |
| AMZN Amazon.com Inc. | 1.38% | 1,367,416 | $300.2M | Add +5.0% |
| VOO Vanguard S&P 500 ETF | 1.17% | 417,816 | $255.9M | Reduce -8.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 1.11% | 505,191 | $242.3M | Reduce -0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.10% | 477,611 | $240.1M | Add +9.4% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.85% | 4,418,723 | $185.7M | Add +1.7% |
| RDVY First Trust Rising Dividend | 0.81% | 2,641,758 | $177.7M | Add +0.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.79% | 527,549 | $173.1M | Reduce -7.8% |
| JPM JPMorgan Chase & Co. | 0.76% | 527,482 | $166.4M | Add +9.9% |
| GOOGL Alphabet Inc. Class A | 0.73% | 655,261 | $159.3M | Add +14.7% |
| VYM Vanguard High DVD Yield ETF | 0.69% | 1,072,883 | $151.2M | Add +1.1% |
| FBND Fidelity Total Bond ETF | 0.69% | 3,253,106 | $150.4M | Reduce -3.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.68% | 792,300 | $147.8M | Reduce -0.7% |
| GOOG Alphabet Inc. Class C | 0.65% | 580,314 | $141.3M | Add +7.6% |
| GLD SPDR Gold Shares | 0.59% | 361,542 | $128.5M | Add +13.6% |
| META Meta Platforms Inc. Class A | 0.56% | 165,169 | $121.3M | Add +14.2% |
| RSP Invesco S&P 500 Equal Weight | 0.53% | 608,799 | $115.5M | Add +49.5% |
| AVGO Broadcom Inc. | 0.52% | 342,683 | $113.1M | Add +6.2% |
| JAAA Janus Henderson Aaa Clo ETF | 0.51% | 2,205,095 | $112.0M | Add +5.7% |
| TSLA Tesla Inc. | 0.50% | 246,214 | $109.5M | Reduce -0.1% |
| JEPI JPMorgan Equity Premium Inco | 0.50% | 1,906,294 | $108.8M | Add +6.8% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.49% | 3,208,731 | $107.2M | Add +71.6% |
| QUAL iShares MSCI USA Quality Fac | 0.49% | 550,293 | $107.0M | Add +2.9% |
| CGGR Cap Group Growth Equity | 0.45% | 2,258,833 | $99.2M | Add +8.6% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.44% | 1,219,845 | $95.6M | Add +3.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.43% | 320,962 | $94.3M | Add +5.1% |
| SCHD Schwab US DVD Equity ETF | 0.43% | 3,446,198 | $94.1M | Add +28.8% |
| XLK SS Technology Select Sector | 0.43% | 332,670 | $93.8M | Reduce -2.1% |
| BND Vanguard Total Bond Market | 0.42% | 1,238,268 | $92.1M | Add +266.5% |
| ABBV Abbvie Inc. | 0.42% | 391,614 | $90.7M | Add +11.5% |
| COWZ Pacer US Cash Cows 100 ETF | 0.41% | 1,558,485 | $89.6M | Reduce -2.1% |
| CAT Caterpillar Inc. | 0.40% | 184,950 | $88.2M | Add +11.2% |
| COST Costco Wholesale Corp. | 0.40% | 95,043 | $88.0M | Add +25.1% |
| WMT Walmart Inc. | 0.40% | 851,538 | $87.8M | Add +26.1% |
| VIG Vanguard Dividend Apprec ETF | 0.39% | 398,490 | $86.0M | Add +13.3% |
| FENI Fidelity Enhanced Intl ETF | 0.39% | 2,436,818 | $86.0M | Add +23.1% |
| DFAC Dimensional US Core Equity 2 | 0.39% | 2,180,073 | $84.1M | Add +9.9% |
| IVW iShares S&P 500 Growth ETF | 0.38% | 689,623 | $83.3M | Reduce -2.9% |
| IWF iShares Russell 1000 Growth | 0.38% | 175,583 | $82.2M | Add +15.9% |
| IJR iShares Core S&P Small-Cap E | 0.38% | 690,742 | $82.1M | Add +7.7% |
| V Visa Inc. Class A | 0.36% | 227,586 | $77.7M | Add +14.1% |
| IYW iShares Ustechnology ETF | 0.35% | 384,824 | $75.4M | Reduce -3.5% |
| VEA Vanguard Ftse Developed ETF | 0.33% | 1,196,496 | $71.7M | Add +4.7% |
| IVE iShares S&P 500 Value ETF | 0.32% | 343,373 | $70.9M | Reduce -1.8% |
| LLY Eli Lilly & Co. | 0.32% | 90,318 | $68.9M | Add +5.8% |
| XOM Exxon Mobil Corp. | 0.31% | 609,381 | $68.7M | Reduce -4.7% |
| FTEC Fidelity MSCI Info Tech Indx | 0.31% | 301,134 | $66.9M | Reduce -2.4% |
| JNJ Johnson & Johnson | 0.30% | 358,865 | $66.5M | Add +20.0% |
| USFR Wisdomtree Floating Rate Tre | 0.30% | 1,295,700 | $65.1M | Reduce -4.5% |
| ORCL Oracle Corp. | 0.30% | 231,547 | $65.1M | Add +7.8% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.30% | 621,475 | $65.0M | Add +2.0% |
| IWM iShares Russell 2000 ETF | 0.30% | 267,952 | $64.8M | Add +33.5% |
| PG The Procter & Gamble Co. | 0.30% | 419,556 | $64.5M | Add +21.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.29% | 733,608 | $64.1M | Add +8.3% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.29% | 1,089,958 | $62.7M | Add +13.1% |
| HD Home Depot Inc. | 0.29% | 154,591 | $62.6M | Add +6.9% |
| ETN Eaton Corp. PLC | 0.28% | 166,061 | $62.1M | Add +14.4% |
| VGT Vanguard Info Tech ETF | 0.27% | 78,421 | $58.6M | Add +4.7% |
| GS Goldman Sachs Group Inc. | 0.27% | 73,070 | $58.2M | Add +13.7% |
| SCHG Schwab US Large-Cap Growth | 0.27% | 1,821,437 | $58.1M | Reduce -13.6% |
| VXUS Vanguard Total Intl Stock | 0.26% | 785,898 | $57.7M | Reduce -5.0% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.26% | 1,225,114 | $57.2M | Reduce -5.2% |
| NFLX Netflix Inc. | 0.26% | 47,649 | $57.1M | Add +3.4% |
| PLTR Palantir Technologies Inc. Class A | 0.26% | 312,845 | $57.1M | Add +18.9% |
| AIRR First Trust Rba American Ind | 0.26% | 580,107 | $56.1M | Add +5.2% |
| IJH iShares Core S&P Midcap ETF | 0.26% | 853,123 | $55.7M | Add +4.7% |
| SDVY First Trust Smid Cap Rising | 0.24% | 1,399,054 | $53.2M | Add +7.1% |
| QQQM Invesco Nasdaq 100 ETF | 0.24% | 208,894 | $51.6M | Add +8.9% |
| ITOT iShares Core S&P Total U.S. | 0.24% | 354,327 | $51.6M | Reduce -2.9% |
| MCD McDonald's Corp. | 0.24% | 169,442 | $51.5M | Add +19.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.24% | 201,881 | $51.3M | Reduce -2.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.24% | 181,894 | $51.3M | Reduce -8.8% |
| DGRW Wisdomtree U.S. Quality Divi | 0.23% | 568,052 | $50.5M | Reduce -7.7% |
| UNH Unitedhealth Group Inc. | 0.23% | 143,949 | $49.7M | Add +38.3% |
| CVX Chevron Corp. | 0.22% | 314,683 | $48.9M | Add +2.4% |
| CSCO Cisco Systems Inc. | 0.22% | 694,112 | $47.5M | Add +40.6% |
| FQAL Fidelity Quality Factor ETF | 0.22% | 633,349 | $47.3M | Add +4.0% |
| FFLG Fidelity Fndmntl L/C GRW ETF | 0.22% | 1,604,280 | $47.3M | Add +5.4% |
| VZ Verizon Communications Inc. | 0.22% | 1,068,488 | $47.0M | Add +19.6% |
| FMDE Fidelity Enhanced Mid Cap Co. | 0.21% | 1,297,418 | $46.9M | Add +6.0% |
| AGG iShares Core U.S. Aggregate | 0.21% | 463,919 | $46.5M | Reduce -9.5% |
| RTX RTX Corp. | 0.21% | 277,375 | $46.4M | Add +20.1% |
| CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT | 0.21% | 1,343,224 | $45.9M | Add +54.7% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.21% | 331,349 | $45.6M | Add +1.5% |
| JQUA JPMorgan US Quality Factor | 0.21% | 721,930 | $45.4M | Add +8.6% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.20% | 397,828 | $44.3M | Add +170.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.20% | 157,558 | $44.0M | Add +38.7% |
| DFUS Dimensional US Eq MKT ETF | 0.20% | 597,209 | $43.3M | Reduce -0.7% |
| DUSA Davis Select US Equity ETF | 0.20% | 902,498 | $43.2M | Add +1.5% |
| CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET | 0.20% | 1,077,568 | $42.6M | Reduce -8.3% |
| SLV iShares Silver Trust | 0.19% | 1,004,046 | $42.5M | Add +44.6% |
| JMTG Mortgage-Backed Securities filed as J P MORGAN EXCHANGE TRADED F | 0.19% | 833,579 | $42.5M | Add +5.9% |
| DE Deere & Co. | 0.19% | 92,720 | $42.4M | Add +6.5% |
| NEE Nextera Energy Inc. | 0.19% | 551,480 | $41.6M | Add +17.7% |
Options reported separately and not counted above: SPY puts ($9.1M), QQQ puts ($5.8M), NVDA puts ($3.2M), PLTR puts ($912K), META calls ($881K), NVDA calls ($840K), MSTR calls ($709K), PLTR calls ($566K), FCX calls ($392K), AUR calls ($54K), BYND calls ($28K).
Other holdings (8): bonds, preferreds, convertibles and warrants · $15.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 6,929 | $8.6M | Reduce -31.5% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 3,437 | $4.4M | Reduce -6.5% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 29,904 | $1.2M | Reduce -4.7% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 24,407 | $616K | Add +124.8% |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 6,494 | $596K | Add +248.2% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 27,780 | $561K | New |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | 141,428 | $11K | Add +91.3% |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | 20,434 | $764 | Reduce -78.0% |
Total filed on the 13F, all lines: $21.8B.
Portfolio Sells Q2 2025 → Q3 2025
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -98.0% | 0.09% | −4.39 |
| OEF iShares S&P 100 ETF | Reduce -90.5% | 0.09% | −0.88 |
| BLV Vanguard Long-Term Bond ETF | Reduce -96.7% | 0.01% | −0.30 |
| SCHB Schwab US Broad Market ETF | Reduce -84.6% | 0.04% | −0.22 |
| IVV iShares Core S&P 500 ETF | Reduce -9.9% | 2.03% | −0.20 |
| PPA Invesco Aerospace & Defense | Reduce -78.7% | 0.04% | −0.16 |
| NVBT All US Equ BUF10 Nov ETF-Usd | Reduce -92.7% | 0.01% | −0.11 |
| VOO Vanguard S&P 500 ETF | Reduce -8.7% | 1.17% | −0.10 |
| IHDG Wisdomtree International Hed | Reduce -69.9% | 0.03% | −0.07 |
| XNTK SS SPDR Nyse Tech ETF | Reduce -98.1% | 0.00% | −0.07 |
| FBND Fidelity Total Bond ETF | Reduce -3.5% | 0.69% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -7.8% | 0.79% | −0.06 |
| FSK FS KKR Capital Corp. | Reduce -16.3% | 0.07% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -8.8% | 0.24% | −0.05 |
| AJG Arthur J Gallagher & Co. | Reduce -68.7% | 0.02% | −0.05 |
| DFAU Dimensional US Core Equity M | Reduce -70.4% | 0.02% | −0.05 |
| PSMD Pacer Swan Sos Moderate Janu | Sold out | 0.00% | −0.05 |
| SYK Stryker Corp. | Reduce -14.0% | 0.14% | −0.05 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -41.8% | 0.07% | −0.05 |
| PSMR Pacer Swan Sos Moderate Apr | Sold out | 0.00% | −0.04 |
| PHYS Sprott Physical Gold Trust | Reduce -30.5% | 0.13% | −0.04 |
| TOTL SS Doubleline TR Tact ETF | Reduce -41.0% | 0.05% | −0.04 |
| VNQI Vanguard GLBL Ex-US Real Est | Reduce -97.3% | 0.00% | −0.04 |
| CGMU Cap Group Municipal Income | Reduce -69.7% | 0.02% | −0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -26.1% | 0.08% | −0.04 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -64.6% | 0.02% | −0.04 |
| TBIL F/M US Treasury 3 Month Bill | Reduce -36.4% | 0.05% | −0.04 |
| AGG iShares Core U.S. Aggregate | Reduce -9.5% | 0.21% | −0.04 |
| USFR Wisdomtree Floating Rate Tre | Reduce -4.5% | 0.30% | −0.03 |
| MSTR Strategy Inc. | Reduce -5.8% | 0.08% | −0.03 |
| SCHG Schwab US Large-Cap Growth | Reduce -13.6% | 0.27% | −0.03 |
| VCEB Vanguard ESG US Corp. Bond | Sold out | 0.00% | −0.03 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -15.3% | 0.13% | −0.03 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -5.2% | 0.26% | −0.03 |
| ONEQ Fidelity Nasdaq Comp Indx | Reduce -18.3% | 0.17% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -52.9% | 0.01% | −0.03 |
| FPE FT-Preferred Secur & Inc. ETF | Reduce -9.3% | 0.19% | −0.03 |
| DIVB iShares Core Dividend ETF | Reduce -61.6% | 0.02% | −0.03 |
| SHV iShares 0-1 Year Treasury Bo | Reduce -38.1% | 0.04% | −0.03 |
| FTSM First Trust Enh Short Mat FD | Reduce -32.3% | 0.05% | −0.03 |
| TGT Target Corp. | Reduce -40.6% | 0.03% | −0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -10.2% | 0.11% | −0.03 |
| BOND PIMCO Active Bond Exchange-T | Reduce -11.5% | 0.13% | −0.02 |
| FTCS First Trust Capital Strength | Reduce -9.3% | 0.17% | −0.02 |
| TBLL Invesco Short Term Treasury | Reduce -85.4% | 0.00% | −0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -14.8% | 0.13% | −0.02 |
| DOW Dow Inc. | Reduce -45.6% | 0.02% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -4.7% | 0.31% | −0.02 |
| DGRW Wisdomtree U.S. Quality Divi | Reduce -7.7% | 0.23% | −0.02 |
| CPK Chesapeake Utilities Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +3.7% | 3.09% | +0.53 |
| NVDA Nvidia Corp. | Add +3.6% | 2.41% | +0.31 |
| BND Vanguard Total Bond Market | Add +266.5% | 0.42% | +0.30 |
| GOOGL Alphabet Inc. Class A | Add +14.7% | 0.73% | +0.24 |
| BUFR FT Vest Lad Buffervetf-Usd I | Add +71.6% | 0.49% | +0.20 |
| GOOG Alphabet Inc. Class C | Add +7.6% | 0.65% | +0.18 |
| MSFT Microsoft Corp. | Add +11.3% | 2.13% | +0.17 |
| RSP Invesco S&P 500 Equal Weight | Add +49.5% | 0.53% | +0.17 |
| IEF iShares 7-10 Year Treasury B | Add +370.3% | 0.16% | +0.13 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +170.0% | 0.20% | +0.12 |
| GLD SPDR Gold Shares | Add +13.6% | 0.59% | +0.11 |
| SCHA Schwab US Small-Cap ETF | Add +1046.6% | 0.11% | +0.10 |
| ABBV Abbvie Inc. | Add +11.5% | 0.42% | +0.10 |
| CAT Caterpillar Inc. | Add +11.2% | 0.40% | +0.09 |
| PLTR Palantir Technologies Inc. Class A | Add +18.9% | 0.26% | +0.09 |
| IWM iShares Russell 2000 ETF | Add +33.5% | 0.30% | +0.09 |
| SCHD Schwab US DVD Equity ETF | Add +28.8% | 0.43% | +0.08 |
| SLV iShares Silver Trust | Add +44.6% | 0.19% | +0.08 |
| AVGO Broadcom Inc. | Add +6.2% | 0.52% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +9.9% | 0.76% | +0.08 |
| JNJ Johnson & Johnson | Add +20.0% | 0.30% | +0.08 |
| WMT Walmart Inc. | Add +26.1% | 0.40% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +38.7% | 0.20% | +0.08 |
| CGGO Cap Group Global Growth | Add +54.7% | 0.21% | +0.07 |
| FENI Fidelity Enhanced Intl ETF | Add +23.1% | 0.39% | +0.07 |
| CBRE CBRE Group Inc. Class A | Add +730.4% | 0.08% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +38.3% | 0.23% | +0.07 |
| ORCL Oracle Corp. | Add +7.8% | 0.30% | +0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.4% | 1.10% | +0.06 |
| VCLT Vanguard Long-Term Corp. Bond | Add +2499.9% | 0.07% | +0.06 |
| VWO Vanguard Ftse Emerging Marke | Add +56.5% | 0.17% | +0.06 |
| IWF iShares Russell 1000 Growth | Add +15.9% | 0.38% | +0.06 |
| PAAA Pgim Aaa Clo ETF | Add +429.0% | 0.07% | +0.06 |
| UBER Uber Technologies Inc. | Add +47.1% | 0.18% | +0.05 |
| CSCO Cisco Systems Inc. | Add +40.6% | 0.22% | +0.05 |
| FELC Fidelity Enh LRG Cap Cor ETF | Add +52.1% | 0.14% | +0.05 |
| RTX RTX Corp. | Add +20.1% | 0.21% | +0.05 |
| WM Waste Management Inc. | Add +64.7% | 0.14% | +0.05 |
| LOW Lowe's Cos Inc. | Add +50.2% | 0.12% | +0.05 |
| GS Goldman Sachs Group Inc. | Add +13.7% | 0.27% | +0.04 |
| CINF Cincinnati Financial Corp. | Add +602.0% | 0.05% | +0.04 |
| AVDE Avantis International Equity | Add +111.2% | 0.08% | +0.04 |
| VIG Vanguard Dividend Apprec ETF | Add +13.3% | 0.39% | +0.04 |
| CGGR Cap Group Growth Equity | Add +8.6% | 0.45% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.8% | 1.41% | +0.04 |
| CGBL Cap Group Core Balanced | Add +33.8% | 0.17% | +0.04 |
| BE Bloom Energy Corp. Class A | New | 0.04% | +0.04 |
| PH Parker Hannifin Corp. | Add +0.1% | 2.13% | +0.04 |
| DFAC Dimensional US Core Equity 2 | Add +9.9% | 0.39% | +0.04 |
| AIRR First Trust Rba American Ind | Add +5.2% | 0.26% | +0.04 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -54.6% | 13,700 | $9.1M |
| QQQ Invesco QQQ Trust Series 1 | put | Add +870.0% | 9,700 | $5.8M |
| GS Goldman Sachs Group Inc. | put | Sold out | 4,000 | $2.8Mbefore exit |
| PLTR Palantir Technologies Inc. Class A | put | New | 5,000 | $912K |
| META Meta Platforms Inc. Class A | call | Reduce -63.6% | 1,200 | $881K |
| QQQ Invesco QQQ Trust Series 1 | call | Sold out | 1,500 | $827Kbefore exit |
| MSTR Strategy Inc. | call | Add +29.4% | 2,200 | $709K |
| PLTR Palantir Technologies Inc. Class A | call | New | 3,100 | $566K |
| FCX Freeport-McMoran Inc. | call | New | 10,000 | $392K |
| AUR Aurora Innovation Inc. | call | New | 10,000 | $54K |
| BYND Beyond Meat Inc. | call | New | 15,000 | $28K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -31.5% | 6,929 | $8.6M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -6.5% | 3,437 | $4.4M |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Reduce -4.7% | 29,904 | $1.2M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 19,299 | $767Kbefore exit |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +124.8% | 24,407 | $616K |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | Add +248.2% | 6,494 | $596K |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | New | 27,780 | $561K |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | Add +91.3% | 141,428 | $11K |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | Reduce -78.0% | 20,434 | $764 |
| VSEEW Digital Health Acquist-CW23 | *W EXP 99/99/999 | Sold out | 10,000 | $354before exit |
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 | 3,239 | $30.9B | AAPL, NVDA, PH, QQQ, IVV |
| Q1 2026 | 3,094 | $26.4B | AAPL, PH, NVDA, IVV, QQQ |
| Q4 2025 | 4,505 | $24.2B | AAPL, NVDA, PH, IVV, MSFT |
| Q3 2025 | 2,874 | $21.8B | AAPL, NVDA, PH, MSFT, IVV |
| Q2 2025 | 2,799 | $20.5B | BRK.A, AAPL, IVV, NVDA, PH |
| Q1 2025 | 2,734 | $20.6B | BRK.A, AAPL, PH, IVV, VOO |
| Q4 2024 | 2,626 | $18.2B | AAPL, IVV, PH, NVDA, MSFT |
| Q3 2024 | 2,527 | $18.1B | AAPL, PH, MSFT, IVV, NVDA |
| Q2 2024 | 2,599 | $17.9B | AAPL, MSFT, NVDA, IVV, PH |
| Q1 2024 | 2,443 | $14.9B | AAPL, PH, MSFT, IVV, VOO |