Stephens Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Stephens Inc. reported 1,234 stock positions worth $6.8 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 3.3% of the portfolio, followed by Apple (AAPL, 2.6%) and Microsoft (MSFT, 1.9%). Compared with Q4 2024, it opened 66 new positions, sold out of 99, added to 484 and reduced 580. The biggest buy was a new position in FT Core Investment Grade ETF (FTCB) and the biggest sale Kura Sushi USA Class A (KRUS, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0000757657
- Portfolio Value
- $6.8B (Q1 2025)
- SEC Filing
- 0000757657-25-000012 ↗ filed May 1, 2025
Holdings Value
Holdings 1,234 stocks · $6.8B
| VTI VG Morningstar TS MKT ETF-US | 3.29% | 817,618 | $224.7M | Reduce -4.1% |
| AAPL Apple Inc. | 2.63% | 807,698 | $179.4M | Reduce -1.7% |
| MSFT Microsoft Corp. | 1.87% | 339,917 | $127.6M | Add +1.2% |
| QQQ Invesco QQQ Trust Series 1 | 1.81% | 262,753 | $123.2M | Reduce -3.6% |
| WMT Walmart Inc. | 1.74% | 1,354,406 | $118.9M | Add +0.9% |
| IWD iShares Russell 1000 Value E | 1.72% | 624,645 | $117.5M | Reduce -9.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.58% | 192,157 | $107.5M | Reduce -6.3% |
| IWS iShares Russell Mid-Cap Valu | 1.51% | 816,571 | $102.9M | Reduce -0.8% |
| JPM JPMorgan Chase & Co. | 1.35% | 375,425 | $92.1M | Reduce -0.8% |
| AMZN Amazon.com Inc. | 1.32% | 474,068 | $90.2M | Reduce -2.6% |
| IWF iShares Russell 1000 Growth | 1.29% | 243,457 | $87.9M | Reduce -9.4% |
| NVDA Nvidia Corp. | 1.12% | 705,207 | $76.4M | Add +3.6% |
| AVGO Broadcom Inc. | 0.98% | 397,934 | $66.6M | Reduce -4.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.95% | 376,409 | $65.0M | Reduce -0.1% |
| IWP iShares Russell Mid-Cap Grow | 0.92% | 531,836 | $62.5M | Add +8.2% |
| VOO Vanguard S&P 500 ETF | 0.88% | 116,646 | $59.9M | Add +5.1% |
| AMLP Alerian MLP ETF | 0.81% | 1,063,408 | $55.2M | Reduce -1.5% |
| GOOG Alphabet Inc. Class C | 0.78% | 338,929 | $53.0M | Reduce -2.3% |
| SHY iShares 1-3 Year Treasury Bo | 0.76% | 625,795 | $51.8M | Reduce -21.6% |
| MA Mastercard Inc. Class A | 0.73% | 90,543 | $49.6M | Add +0.7% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.73% | 265,559 | $49.5M | Add +15.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.72% | 132,792 | $49.2M | Reduce -1.5% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.72% | 621,708 | $49.1M | Reduce -5.4% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.71% | 925,220 | $48.5M | Reduce -8.1% |
| META Meta Platforms Inc. Class A | 0.68% | 80,214 | $46.2M | Add +2.0% |
| GOOGL Alphabet Inc. Class A | 0.65% | 286,553 | $44.3M | Add +0.6% |
| CVX Chevron Corp. | 0.65% | 263,290 | $44.0M | Add +5.3% |
| OBDC Blue Owl Capital Corp. | 0.64% | 2,990,446 | $43.8M | Reduce -10.1% |
| IWV iShares Russell 3000 ETF | 0.64% | 137,881 | $43.8M | Reduce -15.4% |
| USFR Wisdomtree Floating Rate Tre | 0.62% | 846,458 | $42.6M | Reduce -3.0% |
| XOM Exxon Mobil Corp. | 0.61% | 347,407 | $41.3M | Add +0.4% |
| V Visa Inc. Class A | 0.61% | 117,789 | $41.3M | Reduce -8.5% |
| BX Blackstone Inc. | 0.60% | 291,811 | $40.8M | Reduce -14.8% |
| JPST JPMorgan Ultra-Short Income | 0.57% | 765,101 | $38.7M | Add +1.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.56% | 148,916 | $38.5M | Reduce -14.0% |
| KRUS Kura Sushi USA Inc. Class A | 0.55% | 727,922 | $37.3M | Reduce -2.5% |
| VEA Vanguard Ftse Developed ETF | 0.53% | 712,959 | $36.2M | Reduce -4.5% |
| DUK Duke Energy Corp. | 0.53% | 295,210 | $36.0M | Add +6.6% |
| MOAT Vaneck Morningstar Wide Moat | 0.51% | 398,583 | $35.1M | Reduce -2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.51% | 64,688 | $34.5M | Reduce -6.5% |
| IWR iShares Russell Mid-Cap ETF | 0.50% | 401,619 | $34.2M | Reduce -12.9% |
| JEPI JPMorgan Equity Premium Inco | 0.49% | 589,462 | $33.7M | Add +12.2% |
| JNJ Johnson & Johnson | 0.49% | 202,712 | $33.6M | Add +0.2% |
| VRP Invesco Variable Rate Prefer | 0.49% | 1,378,091 | $33.4M | Reduce -3.8% |
| GS Goldman Sachs Group Inc. | 0.48% | 60,169 | $32.9M | Add +1.9% |
| VONG Vanguard Russell 1000 Growth | 0.48% | 353,635 | $32.8M | Add +4.3% |
| VIG Vanguard Dividend Apprec ETF | 0.47% | 164,782 | $32.0M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.46% | 511,402 | $31.6M | Add +0.7% |
| IWM iShares Russell 2000 ETF | 0.46% | 156,780 | $31.3M | Reduce -6.7% |
| IOO iShares Global 100 ETF | 0.46% | 322,760 | $31.1M | Reduce -15.0% |
| ABBV Abbvie Inc. | 0.45% | 145,342 | $30.5M | Reduce -0.5% |
| LLY Eli Lilly & Co. | 0.44% | 36,485 | $30.1M | Add +3.4% |
| PLTR Palantir Technologies Inc. Class A | 0.43% | 347,625 | $29.3M | Reduce -14.5% |
| MRK Merck & Co. Inc. | 0.43% | 326,364 | $29.3M | Reduce -27.4% |
| WM Waste Management Inc. | 0.41% | 121,517 | $28.1M | Reduce -8.9% |
| ARCC Ares Capital Corp. | 0.41% | 1,250,087 | $27.7M | Add +9.4% |
| SCHD Schwab US DVD Equity ETF | 0.41% | 990,262 | $27.7M | Add +7.1% |
| ET Energy Transfer LP | 0.40% | 1,476,041 | $27.4M | Add +22.9% |
| CRM Salesforce Inc. | 0.40% | 101,480 | $27.2M | Reduce -5.2% |
| VGSH Vanguard Short-Term Treasury | 0.39% | 452,092 | $26.5M | Reduce -7.7% |
| FTCB FT Core Investment Grade ETF | 0.39% | 1,261,287 | $26.5M | New |
| PFF iShares Preferred & Income S | 0.39% | 860,671 | $26.4M | Reduce -3.7% |
| AMGN Amgen Inc. | 0.38% | 83,843 | $26.1M | Add +50.3% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.38% | 61,201 | $25.7M | Reduce -9.7% |
| MDT Medtronic PLC | 0.38% | 285,385 | $25.6M | Add +68.0% |
| IWO iShares Russell 2000 Growth | 0.38% | 100,146 | $25.6M | Add +0.1% |
| APO Apollo Global Management Inc. | 0.37% | 185,609 | $25.4M | Add +0.9% |
| QCOM Qualcomm Inc. | 0.37% | 165,055 | $25.4M | Add +39.0% |
| LOW Lowe's Cos Inc. | 0.37% | 108,568 | $25.3M | Reduce -0.1% |
| IWB iShares Russell 1000 ETF | 0.37% | 81,630 | $25.0M | Add +1.8% |
| KO The Coca-Cola Co. | 0.36% | 339,019 | $24.3M | Reduce -20.8% |
| CAT Caterpillar Inc. | 0.34% | 70,471 | $23.2M | Reduce -22.9% |
| PDEC Innovator U.S. Equity Power | 0.34% | 614,711 | $23.1M | Reduce -0.6% |
| IAU iShares Gold Trust | 0.34% | 390,757 | $23.0M | Reduce -9.2% |
| HD Home Depot Inc. | 0.33% | 61,972 | $22.7M | Add +0.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.33% | 539,856 | $22.5M | Reduce -15.7% |
| FDL First Trust Morn DVD Lead Inc. | 0.33% | 518,245 | $22.5M | Reduce -5.7% |
| JCPB JPMorgan Core Plus Bond ETF | 0.33% | 477,607 | $22.5M | Reduce -46.9% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.33% | 101,187 | $22.4M | Add +2.4% |
| MLM Martin Marietta Materials | 0.32% | 45,728 | $21.9M | Add +41.8% |
| T AT&T Inc. | 0.32% | 765,118 | $21.6M | Add +58.1% |
| APH Amphenol Corp. Class A | 0.31% | 318,832 | $20.9M | Add +6.9% |
| MCD McDonald's Corp. | 0.28% | 62,200 | $19.4M | Reduce -36.5% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.28% | 268,695 | $19.1M | Reduce -4.2% |
| PEP Pepsico Inc. | 0.28% | 126,875 | $19.0M | Add +41.4% |
| NFLX Netflix Inc. | 0.28% | 20,376 | $19.0M | Reduce -9.9% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.28% | 118,133 | $19.0M | Add +0.6% |
| USRT iShares Core US REIT ETF | 0.27% | 318,091 | $18.3M | Reduce -1.6% |
| LMBS First Trust Low Duration Opp | 0.27% | 371,549 | $18.3M | Reduce -6.9% |
| ZTS Zoetis Inc. | 0.27% | 110,562 | $18.2M | Add +87.3% |
| ADBE Adobe Inc. | 0.26% | 47,011 | $18.0M | Add +2.5% |
| BIV Vanguard Intermediate-Term B | 0.26% | 230,678 | $17.7M | Reduce -10.7% |
| KKR KKR & Co. Inc. | 0.26% | 150,745 | $17.4M | Reduce -5.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.25% | 69,698 | $17.3M | Reduce -1.1% |
| GIGB Goldman Sachs Inv GRD Corp. | 0.25% | 376,845 | $17.2M | Reduce -14.6% |
| QUAL iShares MSCI USA Quality Fac | 0.25% | 100,707 | $17.2M | Reduce -3.9% |
| ABT Abbott Laboratories | 0.25% | 128,844 | $17.1M | Add +11.1% |
| LMT Lockheed Martin Corp. | 0.25% | 38,016 | $17.0M | Add +17.4% |
| SGOV iShares 0-3 Month Treasury B | 0.25% | 167,540 | $16.9M | Reduce -23.3% |
| UNH Unitedhealth Group Inc. | 0.24% | 31,726 | $16.6M | Reduce -6.3% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $3.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 72,979 | $3.6M | Add +4.5% |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | 12,500 | $20K | No change |
Total filed on the 13F, all lines: $6.8B.
Portfolio Sells Q4 2024 → Q1 2025
| KRUS Kura Sushi USA Inc. Class A | Reduce -2.5% | 0.55% | −0.40 |
| AVGO Broadcom Inc. | Reduce -4.7% | 0.98% | −0.38 |
| AAPL Apple Inc. | Reduce -1.7% | 2.63% | −0.26 |
| JCPB JPMorgan Core Plus Bond ETF | Reduce -46.9% | 0.33% | −0.25 |
| BX Blackstone Inc. | Reduce -14.8% | 0.60% | −0.23 |
| IWF iShares Russell 1000 Growth | Reduce -9.4% | 1.29% | −0.23 |
| NVR NVR Inc. | Sold out | 0.00% | −0.21 |
| MRK Merck & Co. Inc. | Reduce -27.4% | 0.43% | −0.20 |
| AMZN Amazon.com Inc. | Reduce -2.6% | 1.32% | −0.18 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -4.1% | 3.29% | −0.17 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -21.6% | 0.76% | −0.16 |
| GOOG Alphabet Inc. Class C | Reduce -2.3% | 0.78% | −0.15 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -3.6% | 1.81% | −0.15 |
| CAT Caterpillar Inc. | Reduce -22.9% | 0.34% | −0.12 |
| STZ Constellation Brands Inc. Class A | Reduce -75.1% | 0.03% | −0.12 |
| IWV iShares Russell 3000 ETF | Reduce -15.4% | 0.64% | −0.12 |
| EJAN Innovator Emerging Markets P | Reduce -71.8% | 0.05% | −0.12 |
| IWN iShares Russell 2000 Value E | Reduce -48.1% | 0.11% | −0.12 |
| MCD McDonald's Corp. | Reduce -36.5% | 0.28% | −0.11 |
| MEAR Ishrs Short Mat Muni Act ETF | Reduce -44.6% | 0.15% | −0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.3% | 1.58% | −0.11 |
| CRM Salesforce Inc. | Reduce -5.2% | 0.40% | −0.10 |
| PAYX Paychex Inc. | Reduce -53.1% | 0.12% | −0.10 |
| IOO iShares Global 100 ETF | Reduce -15.0% | 0.46% | −0.08 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -14.0% | 0.56% | −0.08 |
| KKR KKR & Co. Inc. | Reduce -5.1% | 0.26% | −0.07 |
| IWD iShares Russell 1000 Value E | Reduce -9.8% | 1.72% | −0.07 |
| ETN Eaton Corp. PLC | Reduce -12.6% | 0.22% | −0.07 |
| IWR iShares Russell Mid-Cap ETF | Reduce -12.9% | 0.50% | −0.07 |
| GIS General Mills Inc. | Reduce -41.4% | 0.10% | −0.07 |
| PKG Packaging Corp. of America | Reduce -19.3% | 0.19% | −0.07 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -45.2% | 0.09% | −0.07 |
| BAC Bank of America Corp. | Reduce -15.7% | 0.33% | −0.06 |
| OBDC Blue Owl Capital Corp. | Reduce -10.1% | 0.64% | −0.06 |
| IWM iShares Russell 2000 ETF | Reduce -6.7% | 0.46% | −0.06 |
| ALL Allstate Corp. | Reduce -62.2% | 0.05% | −0.06 |
| KHC The Kraft Heinz Co. | Reduce -73.8% | 0.02% | −0.06 |
| SGOV iShares 0-3 Month Treasury B | Reduce -23.3% | 0.25% | −0.06 |
| BNY Bank of New York Mellon Corp. | Reduce -65.2% | 0.04% | −0.06 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -1.5% | 0.72% | −0.05 |
| CDMO Avid Bioservices Inc. | Sold out | 0.00% | −0.05 |
| SNOV FT Vest US Small Cap Moderat | Sold out | 0.00% | −0.05 |
| ELV Elevance Health Inc. | Reduce -54.8% | 0.06% | −0.05 |
| ORCL Oracle Corp. | Reduce -17.2% | 0.13% | −0.05 |
| FIXD First Trust Smith Opportunis | Sold out | 0.00% | −0.05 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -14.2% | 0.13% | −0.04 |
| SFEB FT Vest US SC MB ETF-Usd Inc. | Sold out | 0.00% | −0.04 |
| NOW ServiceNow Inc. | Reduce -16.4% | 0.07% | −0.04 |
| FSIG FT Ltd. Duration Inv Grade | Reduce -17.1% | 0.22% | −0.03 |
| EFA iShares MSCI Eafe ETF | Reduce -28.0% | 0.14% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| FTCB FT Core Investment Grade ETF | New | 0.39% | +0.39 |
| FJAN FT Vest U.S. Equity Buffer E | Add +906.9% | 0.22% | +0.20 |
| MDT Medtronic PLC | Add +68.0% | 0.38% | +0.19 |
| AMGN Amgen Inc. | Add +50.3% | 0.38% | +0.18 |
| T AT&T Inc. | Add +58.1% | 0.32% | +0.16 |
| FDEC FT Vest U.S. Equity Buffer E | Add +379.6% | 0.20% | +0.16 |
| NXPI NXP Semiconductors NV | Add +484.6% | 0.19% | +0.15 |
| CVX Chevron Corp. | Add +5.3% | 0.65% | +0.14 |
| ZTS Zoetis Inc. | Add +87.3% | 0.27% | +0.13 |
| QCOM Qualcomm Inc. | Add +39.0% | 0.37% | +0.12 |
| DUK Duke Energy Corp. | Add +6.6% | 0.53% | +0.11 |
| EPD Enterprise Products Partners | Add +60.9% | 0.23% | +0.10 |
| CGUS Cap Group Core Equity | New | 0.10% | +0.10 |
| ALAB Astera Labs Inc. | New | 0.09% | +0.09 |
| KMB Kimberly-Clark Corp. | Add +84.3% | 0.18% | +0.09 |
| PEP Pepsico Inc. | Add +41.4% | 0.28% | +0.09 |
| MLM Martin Marietta Materials | Add +41.8% | 0.32% | +0.09 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +15.6% | 0.73% | +0.09 |
| XOM Exxon Mobil Corp. | Add +0.4% | 0.61% | +0.08 |
| JNJ Johnson & Johnson | Add +0.2% | 0.49% | +0.08 |
| AVLV Avantis US Large Cap Value | Add +286.1% | 0.10% | +0.08 |
| ET Energy Transfer LP | Add +22.9% | 0.40% | +0.07 |
| JEPI JPMorgan Equity Premium Inco | Add +12.2% | 0.49% | +0.07 |
| AES AES Corp. | Add +114.1% | 0.13% | +0.07 |
| ABT Abbott Laboratories | Add +11.1% | 0.25% | +0.07 |
| MA Mastercard Inc. Class A | Add +0.7% | 0.73% | +0.06 |
| LLY Eli Lilly & Co. | Add +3.4% | 0.44% | +0.06 |
| PNC PNC Financial Services Group | Add +59.2% | 0.17% | +0.06 |
| AEP American Electric Power | Add +14.4% | 0.19% | +0.06 |
| AMCR Amcor PLC | Add +1206.7% | 0.06% | +0.06 |
| ARCC Ares Capital Corp. | Add +9.4% | 0.41% | +0.06 |
| HSY The Hershey Co. | Add +55.7% | 0.14% | +0.06 |
| EMN Eastman Chemical Co. | Add +1477.8% | 0.06% | +0.05 |
| FIIG FT Intermed Dur Ig Corp. ETF | Add +54.9% | 0.14% | +0.05 |
| SCHD Schwab US DVD Equity ETF | Add +7.1% | 0.41% | +0.05 |
| AMT American Tower Corp. | Add +3.8% | 0.23% | +0.05 |
| CMCSA Comcast Corp. Class A | Add +25.1% | 0.23% | +0.05 |
| RGLD Royal Gold Inc. | New | 0.05% | +0.05 |
| FPE FT-Preferred Secur & Inc. ETF | Add +101.5% | 0.09% | +0.05 |
| FTNT Fortinet Inc. | Add +540.9% | 0.05% | +0.05 |
| GL Globe Life Inc. | Add +436.5% | 0.05% | +0.05 |
| AON Aon PLC Class A | Add +8.4% | 0.22% | +0.05 |
| MCK McKesson Corp. | Add +278.9% | 0.05% | +0.04 |
| IWP iShares Russell Mid-Cap Grow | Add +8.2% | 0.92% | +0.04 |
| WMT Walmart Inc. | Add +0.9% | 1.74% | +0.04 |
| CSCO Cisco Systems Inc. | Add +0.7% | 0.46% | +0.04 |
| TDG Transdigm Group Inc. | Add +13.0% | 0.18% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +5.1% | 0.88% | +0.04 |
| DRI Darden Restaurants Inc. | Add +10.6% | 0.18% | +0.04 |
| ES Eversource Energy | New | 0.04% | +0.04 |
Notes & Other Activity Q4 2024 → Q1 2025
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | Add +4.5% | 72,979 | $3.6M |
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 | 1,331 | $8.9B | VTI, AAPL, QQQ, WMT, NVDA |
| Q1 2026 | 1,309 | $8.0B | VTI, AAPL, WMT, QQQ, NVDA |
| Q4 2025 | 1,299 | $8.0B | AAPL, VTI, MSFT, QQQ, WMT |
| Q3 2025 | 1,319 | $7.8B | VTI, AAPL, MSFT, QQQ, NVDA |
| Q2 2025 | 1,272 | $7.3B | VTI, MSFT, AAPL, QQQ, WMT |
| Q1 2025 | 1,234 | $6.8B | VTI, AAPL, MSFT, QQQ, WMT |
| Q4 2024 | 1,267 | $7.1B | VTI, AAPL, MSFT, QQQ, IWD |
| Q3 2024 | 1,288 | $7.0B | VTI, AAPL, MSFT, QQQ, IWD |
| Q2 2024 | 1,269 | $6.6B | VTI, AAPL, MSFT, QQQ, IWD |
| Q1 2024 | 1,306 | $6.4B | VTI, AAPL, MSFT, IWD, QQQ |