Rational Advisors, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 31, 2025), Rational Advisors, Inc. reported 99 stock positions worth $986.3 million. Its top holding was Vanguard Total Bond Market (BND) at 8.6% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 8.6%) and SS SPDR P Agg Bond ETF (SPAB, 8.6%). Compared with Q3 2024, it opened 16 new positions, sold out of 82, added to 31 and reduced 46. The biggest buy was St Sr Utl SL SE SPDR ETF-Usd (XLU, shares +36%) and the biggest sale Schwab US REIT ETF (SCHH, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- San Juan, PR
- CIK
- 0001143565
- Portfolio Value
- $986.3M (Q4 2024)
- SEC Filing
- 0001162044-25-000114 ↗ filed Jan 31, 2025
Holdings Value
Holdings 99 stocks · $986.3M
| BND Vanguard Total Bond Market | 8.61% | 1,180,458 | $84.9M | Reduce -2.1% |
| AGG iShares Core U.S. Aggregate | 8.60% | 875,598 | $84.8M | Reduce -2.0% |
| SPAB SS SPDR P Agg Bond ETF | 8.59% | 3,391,024 | $84.7M | Reduce -2.1% |
| IVV iShares Core S&P 500 ETF | 6.04% | 101,186 | $59.6M | Add +10.7% |
| QQQM Invesco Nasdaq 100 ETF | 5.67% | 265,873 | $56.0M | Reduce -9.3% |
| AMLP Alerian MLP ETF | 5.45% | 1,116,290 | $53.8M | Reduce -10.6% |
| NTSX Wisdomtree US Efficient Core | 5.11% | 1,080,170 | $50.4M | Reduce -8.3% |
| VIG Vanguard Dividend Apprec ETF | 4.62% | 232,465 | $45.5M | Reduce -7.2% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 4.03% | 525,534 | $39.8M | Add +35.9% |
| SCHH Schwab US REIT ETF | 3.52% | 1,650,624 | $34.8M | Reduce -15.9% |
| JEPI JPMorgan Equity Premium Inco | 3.20% | 548,449 | $31.6M | Reduce -18.1% |
| HYLB Xtrackers Usd High Yield Cor | 2.85% | 779,544 | $28.1M | Reduce -17.5% |
| PFFD Global X US Preferred ETF | 2.30% | 1,163,762 | $22.7M | Reduce -4.2% |
| VOO Vanguard S&P 500 ETF | 2.25% | 41,108 | $22.1M | Add +8.7% |
| DFCF Dimensional Core Fixed Inc. | 1.89% | 451,024 | $18.6M | Reduce -2.3% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.83% | 261,700 | $18.0M | Reduce -9.3% |
| BAB Invesco Taxable Municipal Bo | 1.40% | 528,974 | $13.8M | Add +47.4% |
| AMZN Amazon.com Inc. | 1.21% | 54,175 | $11.9M | Reduce -8.6% |
| SCHI Schwab 5-10 Year Corporate B | 0.94% | 421,790 | $9.3M | Reduce -34.9% |
| DEXCOM INC (DXCM 0.25 11/15/25) | 0.89% | 9,150,000 | $8.8M | Add +47.8% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | 0.88% | 8,310,000 | $8.7M | Add +35.8% |
| BKNG Booking Holdings Inc. | 0.86% | 1,700 | $8.4M | Add +54.5% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | 0.85% | 7,796,000 | $8.4M | Add +51.2% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | 0.82% | 6,740,000 | $8.1M | Add +51.8% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | 0.75% | 8,650,000 | $7.4M | Add +158.2% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | 0.74% | 7,080,000 | $7.3M | Add +42.5% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | 0.68% | 6,612,000 | $6.7M | Add +182.3% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | 0.66% | 5,889,000 | $6.5M | New |
| GOOGL Alphabet Inc. Class A | 0.66% | 34,196 | $6.5M | Add +19.6% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | 0.64% | 5,580,000 | $6.3M | Add +74.4% |
| OKTA INC (OKTA 0.375 06/15/26) | 0.60% | 6,342,000 | $5.9M | Add +63.5% |
| ETSY INC (ETSY 0.25 06/15/28) | 0.57% | 6,850,000 | $5.6M | Add +89.8% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | 0.56% | 5,560,000 | $5.5M | Add +59.8% |
| WMT Walmart Inc. | 0.55% | 59,898 | $5.4M | Add +3.4% |
| AAPL Apple Inc. | 0.50% | 19,521 | $4.9M | Reduce -16.3% |
| MBB iShares MBS ETF | 0.47% | 50,114 | $4.6M | Reduce -2.3% |
| MSFT Microsoft Corp. | 0.45% | 10,513 | $4.4M | Reduce -6.6% |
| META Meta Platforms Inc. Class A | 0.41% | 6,991 | $4.1M | Reduce -25.4% |
| FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO | 0.39% | 3,990,000 | $3.9M | Reduce -16.0% |
| KKR KKR & Co. Inc. | 0.38% | 25,050 | $3.7M | Reduce -10.2% |
| CRM Salesforce Inc. | 0.37% | 11,000 | $3.7M | New |
| APO Apollo Global Management Inc. | 0.37% | 21,900 | $3.6M | Reduce -41.1% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | 0.36% | 3,480,000 | $3.6M | Add +136.7% |
| BX Blackstone Inc. | 0.36% | 20,400 | $3.5M | Reduce -7.3% |
| CYBR Cyberark Software Ltd./Israel | 0.35% | 10,300 | $3.4M | Reduce -19.5% |
| PGR Progressive Corp. | 0.34% | 14,150 | $3.4M | New |
| COST Costco Wholesale Corp. | 0.34% | 3,669 | $3.4M | Reduce -0.8% |
| NFLX Netflix Inc. | 0.33% | 3,700 | $3.3M | Reduce -21.3% |
| LYV Live Nation Entertainment Inc. | 0.32% | 24,350 | $3.2M | Reduce -18.4% |
| WIX Wix.com Ltd. | 0.31% | 14,180 | $3.0M | New |
| CMG Chipotle Mexican Grill Inc. | 0.31% | 50,350 | $3.0M | No change |
| MELI MercadoLibre Inc. | 0.30% | 1,750 | $3.0M | Reduce -43.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.29% | 4,800 | $2.8M | Add +362.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 24,500 | $2.7M | Add +72.5% |
| ITT Itt Inc. | 0.23% | 16,100 | $2.3M | Reduce -6.4% |
| PROS HOLDINGS INC (PRO 2.25 09/15/27) | 0.21% | 2,211,000 | $2.1M | No change |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | 0.20% | 2,040,928 | $2.0M | No change |
| NOW ServiceNow Inc. | 0.20% | 1,900 | $2.0M | New |
| WIX LTD (WIX 0 08/15/25) filed as WIX COM LTD | 0.17% | 1,790,000 | $1.7M | No change |
| NVDA Nvidia Corp. | 0.17% | 12,690 | $1.7M | Add +38.0% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | 0.16% | 1,605,000 | $1.6M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.16% | 3,504 | $1.6M | Reduce -3.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.14% | 2 | $1.4M | No change |
| MOG.A Moog Inc. Class A | 0.10% | 5,235 | $1.0M | Reduce -53.4% |
| TSLA Tesla Inc. | 0.10% | 2,475 | $1000K | Reduce -19.2% |
| HD Home Depot Inc. | 0.10% | 2,467 | $960K | Reduce -55.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.10% | 4,353 | $957K | Reduce -31.5% |
| V Visa Inc. Class A | 0.10% | 2,981 | $942K | New |
| XLP SS Consumer Staples Sel Sect | 0.09% | 11,627 | $914K | New |
| XOM Exxon Mobil Corp. | 0.09% | 8,398 | $903K | Reduce -31.6% |
| VGT Vanguard Info Tech ETF | 0.09% | 1,425 | $886K | Reduce -47.8% |
| UNH Unitedhealth Group Inc. | 0.09% | 1,744 | $882K | New |
| XLV SS Health Care Select Sector | 0.09% | 6,312 | $868K | Reduce -3.1% |
| XLF SS Financial Select Sector | 0.08% | 16,986 | $821K | Add +2167.8% |
| PLTR Palantir Technologies Inc. Class A | 0.08% | 10,838 | $820K | Reduce -5.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.08% | 4,000 | $790K | Add +191.8% |
| XLC SS Comm Select Sector SPDR | 0.08% | 8,120 | $786K | New |
| AVGO Broadcom Inc. | 0.08% | 3,349 | $776K | Add +17.8% |
| PYPL PayPal Holdings Inc. | 0.07% | 7,896 | $674K | New |
| XLY SS Consumer Disc Select Sect | 0.06% | 2,811 | $631K | New |
| NEE Nextera Energy Inc. | 0.06% | 8,522 | $611K | Add +1564.5% |
| CAT Caterpillar Inc. | 0.06% | 1,675 | $608K | Add +1188.5% |
| SHY iShares 1-3 Year Treasury Bo | 0.06% | 7,384 | $605K | Add +178.6% |
| PLD Prologis Inc. | 0.06% | 5,494 | $581K | Add +2063.0% |
| XLRE SS Real Estate Select Sector | 0.06% | 14,150 | $575K | New |
| ABBV Abbvie Inc. | 0.06% | 3,165 | $562K | New |
| XLI SS Industrial Select Sector | 0.06% | 4,179 | $551K | New |
| ITA iShares U.S. Aerospace & Def | 0.06% | 3,771 | $548K | Reduce -60.5% |
| LLY Eli Lilly & Co. | 0.06% | 708 | $547K | Reduce -80.3% |
| JPM JPMorgan Chase & Co. | 0.05% | 1,955 | $469K | Reduce -75.1% |
| PANW Palo Alto Networks Inc. | 0.04% | 2,422 | $441K | Reduce -1.0% |
| QCOM Qualcomm Inc. | 0.04% | 2,663 | $409K | Reduce -3.2% |
| IHAK iShares Cybersecurity & Tech | 0.04% | 7,718 | $377K | Reduce -3.7% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.03% | 8,546 | $328K | Add +1782.4% |
| VST Vistra Corp. | 0.03% | 1,874 | $258K | New |
| GLW Corning Inc. | 0.02% | 5,063 | $241K | Add +42.3% |
| NRG NRG Energy Inc. | 0.02% | 2,660 | $240K | New |
| IEFA iShares Core MSCI Eafe ETF | 0.02% | 2,132 | $150K | Reduce -95.6% |
| IEF iShares 7-10 Year Treasury B | 0.01% | 676 | $62K | Reduce -96.4% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $36.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 7,400 | $8.8M | Add +37.0% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 7,248 | $8.8M | Add +38.1% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 99,900 | $8.7M | Add +8.7% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 117,100 | $7.3M | Add +51.9% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 70,500 | $2.9M | No change |
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q3 2024 → Q4 2024
| SCHH Schwab US REIT ETF | Reduce -15.9% | 3.52% | −0.97 |
| JEPI JPMorgan Equity Premium Inco | Reduce -18.1% | 3.20% | −0.74 |
| HYLB Xtrackers Usd High Yield Cor | Reduce -17.5% | 2.85% | −0.60 |
| SCHI Schwab 5-10 Year Corporate B | Reduce -34.9% | 0.94% | −0.53 |
| AMLP Alerian MLP ETF | Reduce -10.6% | 5.45% | −0.37 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -95.6% | 0.02% | −0.36 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -2.1% | 8.59% | −0.36 |
| NTSX Wisdomtree US Efficient Core | Reduce -8.3% | 5.11% | −0.36 |
| BND Vanguard Total Bond Market | Reduce -2.1% | 8.61% | −0.35 |
| AGG iShares Core U.S. Aggregate | Reduce -2.0% | 8.60% | −0.35 |
| MELI MercadoLibre Inc. | Reduce -43.0% | 0.30% | −0.32 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.31 |
| VIG Vanguard Dividend Apprec ETF | Reduce -7.2% | 4.62% | −0.29 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.26 |
| LLY Eli Lilly & Co. | Reduce -80.3% | 0.06% | −0.26 |
| TDG Transdigm Group Inc. | Sold out | 0.00% | −0.24 |
| KBR KBR Inc. | Sold out | 0.00% | −0.24 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.21 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.20 |
| PFFD Global X US Preferred ETF | Reduce -4.2% | 2.30% | −0.19 |
| IEF iShares 7-10 Year Treasury B | Reduce -96.4% | 0.01% | −0.17 |
| XLK SS Technology Select Sector | Sold out | 0.00% | −0.15 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -9.3% | 5.67% | −0.15 |
| FRPT Freshpet Inc. | Sold out | 0.00% | −0.14 |
| HD Home Depot Inc. | Reduce -55.1% | 0.10% | −0.12 |
| IVE iShares S&P 500 Value ETF | Sold out | 0.00% | −0.12 |
| MOG.A Moog Inc. Class A | Reduce -53.4% | 0.10% | −0.12 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.12 |
| JPM JPMorgan Chase & Co. | Reduce -75.1% | 0.05% | −0.12 |
| META Meta Platforms Inc. Class A | Reduce -25.4% | 0.41% | −0.12 |
| FOUR SHIFT4 Payments Inc. Class A | Sold out | 0.00% | −0.11 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -9.3% | 1.83% | −0.10 |
| APO Apollo Global Management Inc. | Reduce -41.1% | 0.37% | −0.09 |
| ITA iShares U.S. Aerospace & Def | Reduce -60.5% | 0.06% | −0.09 |
| DFCF Dimensional Core Fixed Inc. | Reduce -2.3% | 1.89% | −0.08 |
| TGT Target Corp. | Sold out | 0.00% | −0.08 |
| CHEGG INC (CHGG 0 09/01/26) | Sold out | 0.00% | −0.08 |
| FORD MOTOR COMPANY (F 0 03/15/26) | Reduce -16.0% | 0.39% | −0.07 |
| VGT Vanguard Info Tech ETF | Reduce -47.8% | 0.09% | −0.07 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.06 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.05 |
| XOM Exxon Mobil Corp. | Reduce -31.6% | 0.09% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -31.5% | 0.10% | −0.04 |
| AAPL Apple Inc. | Reduce -16.3% | 0.50% | −0.04 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.03 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.03 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.03 |
| MSFT Microsoft Corp. | Reduce -6.6% | 0.45% | −0.03 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.02 |
| INTC Intel Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +35.9% | 4.03% | +0.94 |
| IVV iShares Core S&P 500 ETF | Add +10.7% | 6.04% | +0.83 |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | New | 0.66% | +0.66 |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | Add +158.2% | 0.75% | +0.46 |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | Add +182.3% | 0.68% | +0.46 |
| BAB Invesco Taxable Municipal Bo | Add +47.4% | 1.40% | +0.42 |
| BKNG Booking Holdings Inc. | Add +54.5% | 0.86% | +0.40 |
| CRM Salesforce Inc. | New | 0.37% | +0.37 |
| PGR Progressive Corp. | New | 0.34% | +0.34 |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | Add +51.2% | 0.85% | +0.33 |
| DEXCOM INC (DXCM 0.25 11/15/25) | Add +47.8% | 0.89% | +0.31 |
| WIX Wix.com Ltd. | New | 0.31% | +0.31 |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | Add +51.8% | 0.82% | +0.29 |
| ETSY INC (ETSY 0.25 06/15/28) | Add +89.8% | 0.57% | +0.28 |
| VOO Vanguard S&P 500 ETF | Add +8.7% | 2.25% | +0.27 |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | Add +74.4% | 0.64% | +0.26 |
| OKTA INC (OKTA 0.375 06/15/26) | Add +63.5% | 0.60% | +0.24 |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | Add +35.8% | 0.88% | +0.24 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +362.4% | 0.29% | +0.23 |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | Add +42.5% | 0.74% | +0.22 |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | Add +136.7% | 0.36% | +0.22 |
| NOW ServiceNow Inc. | New | 0.20% | +0.20 |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | Add +59.8% | 0.56% | +0.20 |
| GOOGL Alphabet Inc. Class A | Add +19.6% | 0.66% | +0.19 |
| DIS The Walt Disney Co. | Add +72.5% | 0.28% | +0.14 |
| V Visa Inc. Class A | New | 0.10% | +0.10 |
| XLP SS Consumer Staples Sel Sect | New | 0.09% | +0.09 |
| UNH Unitedhealth Group Inc. | New | 0.09% | +0.09 |
| WMT Walmart Inc. | Add +3.4% | 0.55% | +0.09 |
| XLF SS Financial Select Sector | Add +2167.8% | 0.08% | +0.08 |
| XLC SS Comm Select Sector SPDR | New | 0.08% | +0.08 |
| PYPL PayPal Holdings Inc. | New | 0.07% | +0.07 |
| XLY SS Consumer Disc Select Sect | New | 0.06% | +0.06 |
| NVDA Nvidia Corp. | Add +38.0% | 0.17% | +0.06 |
| XLRE SS Real Estate Select Sector | New | 0.06% | +0.06 |
| NEE Nextera Energy Inc. | Add +1564.5% | 0.06% | +0.06 |
| ABBV Abbvie Inc. | New | 0.06% | +0.06 |
| CAT Caterpillar Inc. | Add +1188.5% | 0.06% | +0.06 |
| TSM Taiwan Semiconductor-SP ADR | Add +191.8% | 0.08% | +0.06 |
| XLI SS Industrial Select Sector | New | 0.06% | +0.06 |
| PLD Prologis Inc. | Add +2063.0% | 0.06% | +0.06 |
| SHY iShares 1-3 Year Treasury Bo | Add +178.6% | 0.06% | +0.04 |
| SLB SLB Ltd. | Add +1782.4% | 0.03% | +0.03 |
| AVGO Broadcom Inc. | Add +17.8% | 0.08% | +0.03 |
| VST Vistra Corp. | New | 0.03% | +0.03 |
| NRG NRG Energy Inc. | New | 0.02% | +0.02 |
| GLW Corning Inc. | Add +42.3% | 0.02% | +0.01 |
Notes & Other Activity Q3 2024 → Q4 2024
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +37.0% | 7,400 | $8.8M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +38.1% | 7,248 | $8.8M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +8.7% | 99,900 | $8.7M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +51.9% | 117,100 | $7.3M |
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 | 187 | $1.0B | AGG, BND, SCHZ, IVV, MLPX |
| Q1 2026 | 171 | $919.0M | SCHZ, AGG, BND, NTSX, MLPX |
| Q4 2025 | 176 | $918.2M | BND, AGG, SPAB, MLPX, IVV |
| Q3 2025 | 185 | $958.5M | SPAB, BND, AGG, QQQM, MLPX |
| Q2 2025 | 185 | $963.5M | BND, SPAB, AGG, MLPX, QQQM |
| Q1 2025 | 110 | $953.7M | BND, SPAB, AGG, IVV, MLPX |
| Q4 2024 | 99 | $986.3M | BND, AGG, SPAB, IVV, QQQM |
| Q3 2024 | 165 | $1.0B | BND, SPAB, AGG, QQQM, AMLP |
| Q2 2024 | 185 | $1000.0M | AGG, BND, SPAB, AMLP, QQQM |
| Q1 2024 | 204 | $1.1B | BND, AGG, SPAB, AMLP, QQQM |