Rafferty Asset Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Rafferty Asset Management, LLC reported 1,133 stock positions worth $28.9 billion. Its top holding was iShares 20+ Year Treasury BD (TLT) at 9.2% of the portfolio, followed by Nvidia (NVDA, 5.6%) and iShares Russell 2000 ETF (IWM, 4.2%). Compared with Q3 2025, it opened 79 new positions, sold out of 51, added to 354 and reduced 698. The biggest buy was Applied Materials (AMAT, shares +3%) and the biggest sale Tesla (TSLA, shares −63%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001389426
- Portfolio Value
- $28.9B (Q4 2025)
- SEC Filing
- 0001999371-26-003261 ↗ filed Feb 13, 2026
Holdings Value
Holdings 1,133 stocks · $28.9B
| TLT iShares 20+ Year Treasury BD | 9.15% | 30,401,006 | $2.6B | Reduce -16.8% |
| NVDA Nvidia Corp. | 5.62% | 8,720,743 | $1.6B | Add +2.7% |
| IWM iShares Russell 2000 ETF | 4.23% | 4,978,732 | $1.2B | Reduce -24.0% |
| AVGO Broadcom Inc. | 3.17% | 2,649,753 | $917.1M | Reduce -11.1% |
| AMD Advanced Micro Devices | 2.76% | 3,733,958 | $799.7M | Reduce -14.8% |
| MU Micron Technology Inc. | 2.67% | 2,708,171 | $772.9M | Reduce -14.3% |
| AAPL Apple Inc. | 2.57% | 2,737,806 | $744.3M | Reduce -3.9% |
| MSFT Microsoft Corp. | 2.37% | 1,419,468 | $686.5M | Add +1.0% |
| TSLA Tesla Inc. | 2.12% | 1,367,342 | $614.9M | Reduce -63.1% |
| GDX Vaneck Gold Miners ETF | 2.09% | 7,053,592 | $605.0M | Add +8.2% |
| AMAT Applied Materials Inc. | 2.03% | 2,290,638 | $588.7M | Add +3.0% |
| FXI iShares China Large-Cap ETF | 1.81% | 13,660,513 | $523.1M | Add +2.5% |
| LRCX Lam Research Corp. | 1.57% | 2,654,539 | $454.4M | Reduce -25.3% |
| QCOM Qualcomm Inc. | 1.44% | 2,439,357 | $417.3M | Reduce -25.2% |
| KLAC KLA Corp. | 1.43% | 341,779 | $415.3M | Reduce -15.4% |
| TXN Texas Instruments Inc. | 1.43% | 2,383,482 | $413.5M | Reduce -8.8% |
| NXPI NXP Semiconductors NV | 1.41% | 1,885,494 | $409.3M | Add +31.6% |
| ADI Analog Devices Inc. | 1.39% | 1,486,232 | $403.1M | Add +4.3% |
| INTC Intel Corp. | 1.30% | 10,216,694 | $377.0M | Reduce -29.1% |
| TSM Taiwan Semiconductor-SP ADR | 1.27% | 1,212,821 | $368.6M | Reduce -7.4% |
| MPWR Monolithic Power Systems Inc. | 1.24% | 396,464 | $359.3M | Add +4.5% |
| QQQ Invesco QQQ Trust Series 1 | 1.17% | 551,290 | $338.7M | Add +0.3% |
| MRVL Marvell Technology Inc. | 1.16% | 3,960,935 | $336.6M | Reduce -20.7% |
| ASML ASML Holding NV-NY Reg SHS | 1.16% | 314,088 | $336.0M | Reduce -21.7% |
| MCHP Microchip Technology Inc. | 1.10% | 4,991,393 | $318.1M | Add +3.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.01% | 581,790 | $292.4M | Reduce -8.6% |
| META Meta Platforms Inc. Class A | 0.99% | 435,508 | $287.5M | Add +72.0% |
| AMZN Amazon.com Inc. | 0.98% | 1,234,325 | $284.9M | Reduce -2.5% |
| TER Teradyne Inc. | 0.95% | 1,417,246 | $274.3M | Add +1.6% |
| JPM JPMorgan Chase & Co. | 0.92% | 830,426 | $267.6M | Reduce -9.3% |
| GOOGL Alphabet Inc. Class A | 0.88% | 814,006 | $254.8M | Reduce -1.4% |
| PLTR Palantir Technologies Inc. Class A | 0.73% | 1,186,263 | $210.9M | Reduce -6.8% |
| GDXJ Vaneck Junior Gold Miners | 0.69% | 1,750,475 | $199.2M | Add +30.1% |
| ON On Semiconductor | 0.68% | 3,634,466 | $196.8M | Reduce -4.8% |
| ALAB Astera Labs Inc. | 0.67% | 1,166,716 | $194.1M | Add +9.0% |
| CRDO Credo Technology Group Holdi | 0.66% | 1,336,516 | $192.3M | Add +6.0% |
| V Visa Inc. Class A | 0.62% | 514,823 | $180.6M | Reduce -9.1% |
| KWEB Kranesh Csi China Internet | 0.51% | 4,302,191 | $146.5M | Add +6.1% |
| MA Mastercard Inc. Class A | 0.50% | 251,038 | $143.3M | Reduce -8.8% |
| GOOG Alphabet Inc. Class C | 0.46% | 419,859 | $131.8M | Reduce -4.8% |
| EWY iShares MSCI South Korea ETF | 0.41% | 1,224,622 | $119.1M | Add +44.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.39% | 2,049,363 | $112.7M | Reduce -9.6% |
| CSCO Cisco Systems Inc. | 0.39% | 1,461,244 | $112.6M | Reduce -8.7% |
| ENTG Entegris Inc. | 0.38% | 1,316,939 | $111.0M | Add +3.4% |
| ORCL Oracle Corp. | 0.36% | 537,435 | $104.8M | Add +5.5% |
| MTSI Macom Technology Solutions H | 0.34% | 580,178 | $99.4M | Add +7.0% |
| LLY Eli Lilly & Co. | 0.33% | 89,381 | $96.1M | Reduce -2.9% |
| WFC Wells Fargo & Co. | 0.31% | 957,512 | $89.2M | Reduce -10.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.30% | 297,925 | $88.2M | Reduce -6.6% |
| NVMI Nova Ltd. | 0.30% | 266,579 | $87.5M | Add +7.3% |
| RMBS Rambus Inc. | 0.30% | 935,784 | $86.0M | Add +3.8% |
| XOM Exxon Mobil Corp. | 0.30% | 714,137 | $85.9M | Reduce -7.7% |
| SWKS Skyworks Solutions Inc. | 0.29% | 1,345,412 | $85.3M | Add +3.4% |
| CRM Salesforce Inc. | 0.28% | 311,449 | $82.5M | Reduce -9.7% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 267,182 | $82.3M | Add +1.5% |
| GS Goldman Sachs Group Inc. | 0.28% | 91,954 | $80.8M | Reduce -9.1% |
| NFLX Netflix Inc. | 0.27% | 834,217 | $78.2M | Add +26.4% |
| ASX Ase Technology Holding -ADR | 0.26% | 4,653,904 | $74.9M | Add +4.5% |
| INTU Intuit Inc. | 0.24% | 105,685 | $70.0M | Reduce -5.5% |
| APP AppLovin Corp. Class A | 0.24% | 102,950 | $69.4M | Reduce -6.5% |
| DHI D.R. Horton Inc. | 0.23% | 470,044 | $67.7M | Add +6.0% |
| MS Morgan Stanley | 0.23% | 370,693 | $65.8M | Reduce -8.7% |
| C Citigroup Inc. | 0.22% | 549,156 | $64.1M | Reduce -10.8% |
| RTX RTX Corp. | 0.22% | 339,615 | $62.3M | Add +2.2% |
| AXP American Express Co. | 0.21% | 164,911 | $61.0M | Reduce -9.2% |
| IVV iShares Core S&P 500 ETF | 0.21% | 87,516 | $59.9M | No change |
| ADBE Adobe Inc. | 0.20% | 165,715 | $58.0M | Reduce -6.6% |
| CVX Chevron Corp. | 0.20% | 375,656 | $57.3M | Reduce -6.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.19% | 118,197 | $55.4M | Reduce -3.8% |
| JNJ Johnson & Johnson | 0.19% | 260,527 | $53.9M | Reduce -3.0% |
| ARM Arm Holdings PLC-ADR | 0.18% | 484,608 | $53.0M | Add +8.4% |
| PANW Palo Alto Networks Inc. | 0.18% | 284,483 | $52.4M | Reduce -2.5% |
| APH Amphenol Corp. Class A | 0.18% | 386,281 | $52.2M | Reduce -6.8% |
| ACN Accenture PLC Class A | 0.18% | 194,428 | $52.2M | Reduce -7.4% |
| NOW ServiceNow Inc. | 0.18% | 334,966 | $51.3M | Reduce -13.9% |
| UMC United Microelectron-SP ADR | 0.18% | 6,477,830 | $50.9M | Add +4.1% |
| SCHW Schwab (charles) Corp. | 0.18% | 509,495 | $50.9M | Reduce -10.3% |
| HD Home Depot Inc. | 0.17% | 145,126 | $49.9M | Add +4.3% |
| SPGI S&P Global Inc. | 0.17% | 94,567 | $49.4M | Reduce -9.1% |
| ABBV Abbvie Inc. | 0.17% | 216,118 | $49.4M | Reduce -7.7% |
| STM Stmicroelectronics NV-NY SHS | 0.16% | 1,832,344 | $47.5M | Add +5.1% |
| ANET Arista Networks Inc. | 0.16% | 362,600 | $47.5M | Reduce -6.9% |
| COF Capital One Financial Corp. | 0.16% | 195,851 | $47.5M | Reduce -8.7% |
| BLK BlackRock Inc. | 0.16% | 44,023 | $47.1M | Reduce -8.2% |
| COST Costco Wholesale Corp. | 0.15% | 51,870 | $44.7M | Add +1.6% |
| IEF iShares 7-10 Year Treasury B | 0.15% | 447,990 | $43.1M | Reduce -8.3% |
| WMT Walmart Inc. | 0.14% | 370,470 | $41.3M | Reduce -1.9% |
| EWZ iShares MSCI Brazil ETF | 0.14% | 1,289,329 | $41.0M | Reduce -37.3% |
| PGR Progressive Corp. | 0.14% | 178,892 | $40.7M | Reduce -8.3% |
| SNPS Synopsys Inc. | 0.14% | 85,672 | $40.2M | Reduce -2.2% |
| BA The Boeing Co. | 0.14% | 181,863 | $39.5M | Add +7.4% |
| PHM Pultegroup Inc. | 0.14% | 334,547 | $39.2M | Add +6.1% |
| CDNS Cadence Design SYS Inc. | 0.14% | 125,498 | $39.2M | Reduce -0.1% |
| LEN Lennar Corp. Class A | 0.13% | 370,307 | $38.1M | Add +1.8% |
| AMGN Amgen Inc. | 0.13% | 115,018 | $37.6M | Reduce -12.6% |
| ASHR Xtrackers Harvest Csi 300 CH | 0.13% | 1,135,247 | $37.3M | Reduce -18.5% |
| NVR NVR Inc. | 0.12% | 4,867 | $35.5M | Add +5.9% |
| BX Blackstone Inc. | 0.12% | 228,279 | $35.2M | Reduce -7.7% |
| CB Chubb Ltd. | 0.12% | 111,646 | $34.8M | Reduce -9.5% |
| GILD Gilead Sciences Inc. | 0.12% | 283,202 | $34.8M | Reduce -10.1% |
Portfolio Sells Q3 2025 → Q4 2025
| TSLA Tesla Inc. | Reduce -63.1% | 2.12% | −3.22 |
| TLT iShares 20+ Year Treasury BD | Reduce -16.8% | 9.15% | −1.43 |
| IWM iShares Russell 2000 ETF | Reduce -24.0% | 4.23% | −0.91 |
| QCOM Qualcomm Inc. | Reduce -25.2% | 1.44% | −0.32 |
| INTC Intel Corp. | Reduce -29.1% | 1.30% | −0.27 |
| MRVL Marvell Technology Inc. | Reduce -20.7% | 1.16% | −0.20 |
| TXN Texas Instruments Inc. | Reduce -8.8% | 1.43% | −0.13 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -21.7% | 1.16% | −0.10 |
| EWZ iShares MSCI Brazil ETF | Reduce -37.3% | 0.14% | −0.07 |
| NOW ServiceNow Inc. | Reduce -13.9% | 0.18% | −0.06 |
| TTD Trade Desk Inc./the Class A | Reduce -85.3% | 0.01% | −0.04 |
| GFS Globalfoundries Inc. | Sold out | 0.00% | −0.04 |
| CDW CDW Corp. | Reduce -66.0% | 0.02% | −0.04 |
| BIIB Biogen Inc. | Reduce -69.4% | 0.03% | −0.04 |
| LULU Lululemon Athletica Inc. | Reduce -88.5% | 0.01% | −0.04 |
| FISV Fiserv Inc. | Reduce -9.3% | 0.04% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -8.6% | 1.01% | −0.03 |
| COIN Coinbase Global Inc. Class A | Reduce -4.7% | 0.06% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -6.8% | 0.73% | −0.02 |
| HOOD Robinhood Markets Inc. Class A | Reduce -4.0% | 0.10% | −0.02 |
| AVGO Broadcom Inc. | Reduce -11.1% | 3.17% | −0.02 |
| AKRO Akero Therapeutics Inc. | Sold out | 0.00% | −0.02 |
| ASHR Xtrackers Harvest Csi 300 CH | Reduce -18.5% | 0.13% | −0.02 |
| ANET Arista Networks Inc. | Reduce -6.9% | 0.16% | −0.02 |
| BLK BlackRock Inc. | Reduce -8.2% | 0.16% | −0.02 |
| MTSR Metsera Inc. | Sold out | 0.00% | −0.02 |
| APP AppLovin Corp. Class A | Reduce -6.5% | 0.24% | −0.02 |
| AJG Arthur J Gallagher & Co. | Reduce -8.2% | 0.07% | −0.02 |
| BX Blackstone Inc. | Reduce -7.7% | 0.12% | −0.02 |
| PGR Progressive Corp. | Reduce -8.3% | 0.14% | −0.02 |
| MSI Motorola Solutions Inc. | Reduce -7.0% | 0.07% | −0.01 |
| CRSP Crispr Therapeutics AG | Reduce -34.5% | 0.02% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -8.8% | 0.50% | −0.01 |
| SMCI Super Micro Computer Inc. | Reduce -10.4% | 0.02% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -9.3% | 0.92% | −0.01 |
| PANW Palo Alto Networks Inc. | Reduce -2.5% | 0.18% | −0.01 |
| MRSH Marsh & McLennan Cos | Reduce -8.7% | 0.10% | −0.01 |
| PYPL PayPal Holdings Inc. | Reduce -1.9% | 0.11% | −0.01 |
| VBTX Veritex Holdings Inc. | Sold out | 0.00% | −0.01 |
| ETNB 89BIO Inc. | Sold out | 0.00% | −0.01 |
| MPC Marathon Petroleum Corp. | Reduce -6.1% | 0.05% | −0.01 |
| EEM iShares MSCI Emerging Market | Reduce -35.5% | 0.02% | −0.01 |
| MRNA Moderna Inc. | Reduce -37.6% | 0.02% | −0.01 |
| CDNS Cadence Design SYS Inc. | Reduce -0.1% | 0.14% | −0.01 |
| NBIX Neurocrine Biosciences Inc. | Reduce -33.5% | 0.02% | −0.01 |
| EWW iShares MSCI Mexico ETF | Reduce -28.1% | 0.03% | −0.01 |
| UTHR United Therapeutics Corp. | Reduce -39.6% | 0.02% | −0.01 |
| WDAY Workday Inc. Class A | Reduce -2.0% | 0.10% | −0.01 |
| EXEL Exelixis Inc. | Reduce -33.0% | 0.02% | −0.01 |
| MTB M & T Bank Corp. | Reduce -17.4% | 0.06% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| AMAT Applied Materials Inc. | Add +3.0% | 2.03% | +0.56 |
| NVDA Nvidia Corp. | Add +2.7% | 5.62% | +0.48 |
| GDX Vaneck Gold Miners ETF | Add +8.2% | 2.09% | +0.47 |
| META Meta Platforms Inc. Class A | Add +72.0% | 0.99% | +0.39 |
| NXPI NXP Semiconductors NV | Add +31.6% | 1.41% | +0.36 |
| TER Teradyne Inc. | Add +1.6% | 0.95% | +0.33 |
| ADI Analog Devices Inc. | Add +4.3% | 1.39% | +0.26 |
| GDXJ Vaneck Junior Gold Miners | Add +30.1% | 0.69% | +0.26 |
| EWY iShares MSCI South Korea ETF | Add +44.0% | 0.41% | +0.19 |
| MTSI Macom Technology Solutions H | Add +7.0% | 0.34% | +0.12 |
| MPWR Monolithic Power Systems Inc. | Add +4.5% | 1.24% | +0.11 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.3% | 1.17% | +0.10 |
| ASX Ase Technology Holding -ADR | Add +4.5% | 0.26% | +0.10 |
| MCHP Microchip Technology Inc. | Add +3.3% | 1.10% | +0.09 |
| CRDO Credo Technology Group Holdi | Add +6.0% | 0.66% | +0.07 |
| WDC Western Digital Corp. | Add +45.4% | 0.11% | +0.06 |
| STX Seagate Technology Holdings | Add +50.3% | 0.11% | +0.05 |
| NVMI Nova Ltd. | Add +7.3% | 0.30% | +0.04 |
| FER Ferrovial NV | New | 0.04% | +0.04 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +162.6% | 0.06% | +0.04 |
| SNDK Sandisk Corp. | New | 0.04% | +0.04 |
| ARES Ares Management Corp. Class A | New | 0.04% | +0.04 |
| RTX RTX Corp. | Add +2.2% | 0.22% | +0.03 |
| INSM Insmed Inc. | Add +82.8% | 0.06% | +0.03 |
| FXI iShares China Large-Cap ETF | Add +2.5% | 1.81% | +0.03 |
| GE General Electric | Add +1.5% | 0.28% | +0.03 |
| CRH CRH PLC | New | 0.02% | +0.02 |
| UMC United Microelectron-SP ADR | Add +4.1% | 0.18% | +0.02 |
| CELC Celcuity Inc. | Add +609.4% | 0.02% | +0.02 |
| BA The Boeing Co. | Add +7.4% | 0.14% | +0.02 |
| CVNA Carvana Co. | Add +176.6% | 0.03% | +0.02 |
| URA Global X Uranium ETF | Add +93.9% | 0.03% | +0.02 |
| TVTX Travere Therapeutics Inc. | Add +87.5% | 0.02% | +0.02 |
| FOLD Amicus Therapeutics Inc. | Add +30.2% | 0.02% | +0.01 |
| NLR Vaneck Urani & Nuclr ETF-Usd | Add +136.6% | 0.02% | +0.01 |
| NFLX Netflix Inc. | Add +26.4% | 0.27% | +0.01 |
| Q Qnity Electronics Inc. | Add +229.9% | 0.02% | +0.01 |
| BLD Topbuild Corp. | Add +8.1% | 0.07% | +0.01 |
| MLYS Mineralys Therapeutics Inc. | Add +303.7% | 0.02% | +0.01 |
| MIRM Mirum Pharmaceuticals Inc. | Add +120.2% | 0.02% | +0.01 |
| MSFT Microsoft Corp. | Add +1.0% | 2.37% | +0.01 |
| INDA iShares MSCI India ETF | Add +0.1% | 0.11% | +0.01 |
| NEE Nextera Energy Inc. | Add +5.8% | 0.06% | +0.01 |
| RKLB Rocket Lab Corp. | Add +4.9% | 0.03% | +0.01 |
| GRAL Grail Inc. | Add +42.5% | 0.02% | +0.01 |
| FIX Comfort Systems USA Inc. | Add +415.3% | 0.01% | +0.01 |
| ARQT Arcutis Biotherapeutics Inc. | Add +16.0% | 0.02% | +0.01 |
| CGON CG Oncology Inc. | Add +71.9% | 0.02% | +0.01 |
| STOK Stoke Therapeutics Inc. | Add +155.3% | 0.01% | +0.01 |
| DYN Dyne Therapeutics Inc. | Add +9.7% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,133 | $43.9B | MU, NVDA, AMD, AVGO, INTC |
| Q1 2026 | 1,057 | $24.6B | TLT, NVDA, IWM, AVGO, MU |
| Q4 2025 | 1,133 | $28.9B | TLT, NVDA, IWM, AVGO, AMD |
| Q3 2025 | 1,104 | $30.8B | TLT, TSLA, IWM, NVDA, AVGO |
| Q2 2025 | 1,077 | $30.3B | TLT, NVDA, IWM, TSLA, AVGO |
| Q1 2025 | 1,058 | $23.5B | TLT, IWM, NVDA, FXI, TSLA |
| Q4 2024 | 1,140 | $28.3B | TLT, IWM, NVDA, TSLA, AVGO |
| Q3 2024 | 1,137 | $29.2B | TLT, IWM, NVDA, AVGO, AMD |
| Q2 2024 | 1,168 | $26.9B | TLT, NVDA, IWM, AVGO, MSFT |
| Q1 2024 | 1,080 | $26.8B | TLT, IWM, NVDA, MSFT, AVGO |