Stephens Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 27, 2025), Stephens Inc. reported 1,319 stock positions worth $7.8 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 2.9% of the portfolio, followed by Apple (AAPL, 2.7%) and Microsoft (MSFT, 2.3%). Compared with Q2 2025, it opened 107 new positions, sold out of 60, added to 505 and reduced 542. The biggest buy was Apple (AAPL, shares +2%) and the biggest sale Kura Sushi USA Class A (KRUS, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0000757657
- Portfolio Value
- $7.8B (Q3 2025)
- SEC Filing
- 0000757657-25-000022 ↗ filed Oct 27, 2025
Holdings Value
Holdings 1,319 stocks · $7.8B
| VTI VG Morningstar TS MKT ETF-US | 2.93% | 699,470 | $229.5M | Reduce -1.8% |
| AAPL Apple Inc. | 2.67% | 823,406 | $209.8M | Add +2.0% |
| MSFT Microsoft Corp. | 2.32% | 351,666 | $182.3M | Add +3.4% |
| QQQ Invesco QQQ Trust Series 1 | 1.98% | 258,582 | $155.2M | Add +3.8% |
| NVDA Nvidia Corp. | 1.85% | 776,577 | $144.9M | Add +3.8% |
| WMT Walmart Inc. | 1.82% | 1,387,793 | $143.1M | Add +2.4% |
| AVGO Broadcom Inc. | 1.68% | 399,456 | $131.8M | Add +1.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.64% | 192,346 | $128.3M | Reduce -1.7% |
| IWD iShares Russell 1000 Value E | 1.63% | 628,770 | $128.0M | Add +0.8% |
| JPM JPMorgan Chase & Co. | 1.60% | 396,739 | $125.1M | Add +3.4% |
| AMZN Amazon.com Inc. | 1.58% | 565,214 | $124.2M | Add +8.8% |
| IWF iShares Russell 1000 Growth | 1.52% | 254,613 | $119.3M | Add +3.3% |
| IWS iShares Russell Mid-Cap Valu | 1.50% | 843,697 | $117.8M | Add +0.9% |
| GOOG Alphabet Inc. Class C | 1.04% | 333,562 | $81.4M | Reduce -0.9% |
| GOOGL Alphabet Inc. Class A | 1.02% | 328,612 | $79.9M | Add +5.9% |
| IWP iShares Russell Mid-Cap Grow | 0.99% | 544,940 | $77.6M | Add +0.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.96% | 402,769 | $75.1M | Add +2.0% |
| META Meta Platforms Inc. Class A | 0.85% | 90,967 | $66.8M | Add +7.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.83% | 135,189 | $64.8M | Reduce -1.4% |
| VOO Vanguard S&P 500 ETF | 0.82% | 104,436 | $64.0M | Reduce -5.1% |
| IWV iShares Russell 3000 ETF | 0.72% | 148,187 | $56.2M | Add +5.6% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.71% | 268,397 | $56.0M | Reduce -0.6% |
| GS Goldman Sachs Group Inc. | 0.69% | 68,247 | $54.3M | Add +9.1% |
| MA Mastercard Inc. Class A | 0.66% | 91,519 | $52.1M | Add +0.5% |
| BX Blackstone Inc. | 0.66% | 303,436 | $51.9M | Add +0.4% |
| AMLP Alerian MLP ETF | 0.65% | 1,084,043 | $50.9M | Add +0.8% |
| IOO iShares Global 100 ETF | 0.64% | 418,444 | $50.2M | Add +23.7% |
| PLTR Palantir Technologies Inc. Class A | 0.63% | 265,056 | $49.7M | Reduce -10.4% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.62% | 605,788 | $48.4M | Reduce -1.8% |
| VONG Vanguard Russell 1000 Growth | 0.57% | 372,863 | $44.9M | Add +0.5% |
| KRUS Kura Sushi USA Inc. Class A | 0.55% | 727,806 | $43.2M | Reduce -1.5% |
| SHY iShares 1-3 Year Treasury Bo | 0.54% | 513,036 | $42.6M | Reduce -5.2% |
| CVX Chevron Corp. | 0.53% | 264,825 | $41.2M | Add +2.9% |
| IWR iShares Russell Mid-Cap ETF | 0.52% | 425,786 | $41.1M | Add +2.9% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.51% | 135,420 | $40.3M | Reduce -0.3% |
| DUK Duke Energy Corp. | 0.51% | 320,659 | $39.7M | Add +10.1% |
| XOM Exxon Mobil Corp. | 0.50% | 347,052 | $39.2M | Reduce -0.7% |
| V Visa Inc. Class A | 0.49% | 113,419 | $38.7M | Add +1.1% |
| JPST JPMorgan Ultra-Short Income | 0.49% | 759,194 | $38.5M | Add +2.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.48% | 127,734 | $37.5M | Add +4.3% |
| MOAT Vaneck Morningstar Wide Moat | 0.47% | 373,699 | $37.0M | Reduce -4.6% |
| JEPI JPMorgan Equity Premium Inco | 0.47% | 644,068 | $36.8M | Add +5.0% |
| BIV Vanguard Intermediate-Term B | 0.47% | 470,187 | $36.7M | Add +47.6% |
| SCHD Schwab US DVD Equity ETF | 0.46% | 1,325,110 | $36.2M | Add +0.5% |
| JNJ Johnson & Johnson | 0.46% | 194,814 | $36.1M | Reduce -1.2% |
| CSCO Cisco Systems Inc. | 0.46% | 520,639 | $35.7M | Reduce -2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.45% | 69,858 | $35.2M | Add +6.3% |
| ABBV Abbvie Inc. | 0.45% | 150,987 | $35.0M | Add +4.1% |
| VRP Invesco Variable Rate Prefer | 0.45% | 1,415,320 | $35.0M | Add +2.2% |
| APH Amphenol Corp. Class A | 0.44% | 280,847 | $34.8M | Reduce -6.9% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.44% | 646,981 | $34.3M | Reduce -1.4% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.42% | 71,642 | $33.2M | Add +13.6% |
| KTOS Kratos Defense & Security | 0.41% | 353,932 | $32.3M | Add +15.0% |
| OBDC Blue Owl Capital Corp. | 0.40% | 2,457,738 | $31.4M | Reduce -18.9% |
| VEA Vanguard Ftse Developed ETF | 0.40% | 518,194 | $31.1M | Add +0.5% |
| IWB iShares Russell 1000 ETF | 0.39% | 83,372 | $30.5M | Add +1.8% |
| LLY Eli Lilly & Co. | 0.37% | 38,311 | $29.2M | Add +1.4% |
| CAT Caterpillar Inc. | 0.37% | 61,155 | $29.2M | Reduce -10.9% |
| MLM Martin Marietta Materials | 0.37% | 46,176 | $29.1M | Reduce -4.5% |
| LOW Lowe's Cos Inc. | 0.36% | 111,017 | $27.9M | Reduce -1.0% |
| APO Apollo Global Management Inc. | 0.35% | 205,233 | $27.4M | Add +10.1% |
| VGSH Vanguard Short-Term Treasury | 0.35% | 462,737 | $27.2M | Add +4.2% |
| AMGN Amgen Inc. | 0.34% | 95,476 | $27.0M | Reduce -0.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.34% | 105,840 | $26.9M | Add +1.0% |
| FJAN FT Vest U.S. Equity Buffer E | 0.34% | 531,203 | $26.6M | Reduce -0.7% |
| MRK Merck & Co. Inc. | 0.34% | 314,883 | $26.5M | Add +2.3% |
| WM Waste Management Inc. | 0.34% | 119,801 | $26.5M | Reduce -0.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.33% | 506,677 | $26.1M | Reduce -4.9% |
| FTCB FT Core Investment Grade ETF | 0.33% | 1,217,273 | $25.9M | Add +2.3% |
| HD Home Depot Inc. | 0.33% | 63,613 | $25.8M | Add +1.4% |
| MDT Medtronic PLC | 0.33% | 269,761 | $25.7M | Add +3.5% |
| QCOM Qualcomm Inc. | 0.32% | 152,455 | $25.4M | Add +0.2% |
| FFEB FT Vest US Equity Buffer ETF | 0.32% | 460,513 | $25.4M | Reduce -0.1% |
| KKR KKR & Co. Inc. | 0.31% | 188,598 | $24.5M | Add +8.7% |
| VIG Vanguard Dividend Apprec ETF | 0.31% | 112,729 | $24.3M | Reduce -1.3% |
| ET Energy Transfer LP | 0.31% | 1,398,242 | $24.0M | Add +3.1% |
| ARCC Ares Capital Corp. | 0.31% | 1,174,822 | $24.0M | Reduce -5.4% |
| IWM iShares Russell 2000 ETF | 0.30% | 98,857 | $23.9M | Add +1.0% |
| TSLA Tesla Inc. | 0.30% | 53,308 | $23.7M | Reduce -0.7% |
| FDL First Trust Morn DVD Lead Inc. | 0.29% | 521,366 | $22.6M | Add +0.2% |
| NFLX Netflix Inc. | 0.29% | 18,693 | $22.4M | Reduce -4.9% |
| IAU iShares Gold Trust | 0.28% | 304,091 | $22.1M | Reduce -6.3% |
| JCPB JPMorgan Core Plus Bond ETF | 0.28% | 463,677 | $22.0M | Add +2.7% |
| T AT&T Inc. | 0.28% | 767,073 | $21.7M | Add +5.5% |
| ETN Eaton Corp. PLC | 0.28% | 57,859 | $21.7M | Add +6.1% |
| MCD McDonald's Corp. | 0.27% | 69,570 | $21.1M | Add +2.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.26% | 268,998 | $20.6M | Reduce -0.6% |
| ORCL Oracle Corp. | 0.26% | 72,665 | $20.4M | Reduce -7.5% |
| ZTS Zoetis Inc. | 0.26% | 139,027 | $20.3M | Add +7.7% |
| PFF iShares Preferred & Income S | 0.26% | 640,539 | $20.3M | Reduce -22.5% |
| KO The Coca-Cola Co. | 0.26% | 300,900 | $20.2M | Reduce -6.7% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.25% | 113,853 | $19.9M | Reduce -3.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.25% | 69,906 | $19.7M | Reduce -1.2% |
| EPD Enterprise Products Partners | 0.25% | 627,434 | $19.6M | Add +18.3% |
| QUAL iShares MSCI USA Quality Fac | 0.25% | 100,782 | $19.6M | Reduce -0.8% |
| LMT Lockheed Martin Corp. | 0.25% | 38,915 | $19.4M | Add +2.3% |
| PEP Pepsico Inc. | 0.25% | 137,588 | $19.3M | Add +2.3% |
| NEM Newmont Corp. | 0.24% | 227,329 | $19.2M | Add +27.1% |
| USRT iShares Core US REIT ETF | 0.24% | 325,328 | $19.1M | Add +2.1% |
| AGG iShares Core U.S. Aggregate | 0.24% | 187,424 | $18.8M | Add +6.3% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $3.8M (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 | 76,688 | $3.8M | Add +4.3% |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | 14,415 | $274 | Add +64.1% |
Total filed on the 13F, all lines: $7.8B.
Portfolio Sells Q2 2025 → Q3 2025
| KRUS Kura Sushi USA Inc. Class A | Reduce -1.5% | 0.55% | −0.32 |
| USFR Wisdomtree Floating Rate Tre | Reduce -61.6% | 0.17% | −0.31 |
| OBDC Blue Owl Capital Corp. | Reduce -18.9% | 0.40% | −0.20 |
| CRM Salesforce Inc. | Reduce -35.8% | 0.21% | −0.19 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -83.3% | 0.02% | −0.13 |
| ADBE Adobe Inc. | Reduce -32.8% | 0.12% | −0.09 |
| PFF iShares Preferred & Income S | Reduce -22.5% | 0.26% | −0.09 |
| SPOT Spotify Technology SA | Reduce -69.9% | 0.03% | −0.09 |
| GIGB Goldman Sachs Inv GRD Corp. | Reduce -35.2% | 0.14% | −0.09 |
| KMB Kimberly-Clark Corp. | Reduce -44.6% | 0.08% | −0.08 |
| NFLX Netflix Inc. | Reduce -4.9% | 0.29% | −0.08 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -5.2% | 0.54% | −0.07 |
| ARCC Ares Capital Corp. | Reduce -5.4% | 0.31% | −0.07 |
| AVB Avalonbay Communities Inc. | Reduce -87.5% | 0.01% | −0.07 |
| DRI Darden Restaurants Inc. | Reduce -23.6% | 0.10% | −0.06 |
| KO The Coca-Cola Co. | Reduce -6.7% | 0.26% | −0.06 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -1.8% | 0.62% | −0.06 |
| ULTA Ulta Beauty Inc. | Reduce -57.9% | 0.05% | −0.06 |
| CSCO Cisco Systems Inc. | Reduce -2.5% | 0.46% | −0.05 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.8% | 2.93% | −0.05 |
| VOO Vanguard S&P 500 ETF | Reduce -5.1% | 0.82% | −0.04 |
| WM Waste Management Inc. | Reduce -0.9% | 0.34% | −0.04 |
| KMI Kinder Morgan Inc. | Reduce -42.3% | 0.04% | −0.04 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -1.4% | 0.44% | −0.04 |
| MEAR Ishrs Short Mat Muni Act ETF | Reduce -20.1% | 0.11% | −0.04 |
| FISV Fiserv Inc. | Reduce -61.3% | 0.01% | −0.04 |
| FTNT Fortinet Inc. | Reduce -59.0% | 0.02% | −0.04 |
| ENOV Enovis Corp. | Reduce -89.0% | 0.00% | −0.04 |
| IBM Intl Business Machines Corp. | Reduce -1.2% | 0.25% | −0.04 |
| PAPR Innovator U.S. Equity Power | Sold out | 0.00% | −0.03 |
| CSGS CSG Systems Intl Inc. | Sold out | 0.00% | −0.03 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -4.6% | 0.47% | −0.03 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -0.7% | 0.19% | −0.03 |
| UBER Uber Technologies Inc. | Reduce -28.1% | 0.07% | −0.03 |
| CGMS Cap Group US Multi-Sect Bond | Reduce -5.9% | 0.21% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.7% | 1.64% | −0.03 |
| LKQ LKQ Corp. | Reduce -6.3% | 0.07% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -0.7% | 0.18% | −0.03 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -33.1% | 0.04% | −0.03 |
| HPQ HP Inc. | Reduce -44.4% | 0.03% | −0.03 |
| RSJN FT Vest US Eqt Eq WGT Buf JN | Reduce -83.6% | 0.00% | −0.03 |
| ABT Abbott Laboratories | Reduce -3.6% | 0.19% | −0.03 |
| ACN Accenture PLC Class A | Reduce -4.2% | 0.07% | −0.02 |
| FDS Factset Research Systems Inc. | Reduce -18.3% | 0.02% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -1.6% | 0.18% | −0.02 |
| TFLO iShares Treasury Floating Ra | Reduce -29.6% | 0.04% | −0.02 |
| SLP Simulations Plus Inc. | Sold out | 0.00% | −0.02 |
| AMGN Amgen Inc. | Reduce -0.3% | 0.34% | −0.02 |
| DIS The Walt Disney Co. | Reduce -6.7% | 0.09% | −0.02 |
| KREF KKR Real Estate Finance Trus | Reduce -39.7% | 0.03% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +2.0% | 2.67% | +0.40 |
| GOOGL Alphabet Inc. Class A | Add +5.9% | 1.02% | +0.27 |
| NVDA Nvidia Corp. | Add +3.8% | 1.85% | +0.22 |
| KTOS Kratos Defense & Security | Add +15.0% | 0.41% | +0.22 |
| AVGO Broadcom Inc. | Add +1.8% | 1.68% | +0.19 |
| IOO iShares Global 100 ETF | Add +23.7% | 0.64% | +0.14 |
| BIV Vanguard Intermediate-Term B | Add +47.6% | 0.47% | +0.13 |
| OPPE Wisdomtree European Opport | New | 0.11% | +0.11 |
| NEM Newmont Corp. | Add +27.1% | 0.24% | +0.10 |
| ORI Old Republic Intl Corp. | Add +1472.3% | 0.10% | +0.10 |
| QQQ Invesco QQQ Trust Series 1 | Add +3.8% | 1.98% | +0.09 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +283.4% | 0.12% | +0.08 |
| GS Goldman Sachs Group Inc. | Add +9.1% | 0.69% | +0.08 |
| CGNG Cap Group New Geography Eq | Add +137.0% | 0.14% | +0.08 |
| APP AppLovin Corp. Class A | Add +58.4% | 0.12% | +0.08 |
| EFA iShares MSCI Eafe ETF | Add +64.0% | 0.22% | +0.08 |
| IWF iShares Russell 1000 Growth | Add +3.3% | 1.52% | +0.08 |
| GE General Electric | Add +62.8% | 0.18% | +0.08 |
| CGMM Cap Group Small and Mid Cap | Add +83.4% | 0.17% | +0.08 |
| ABBV Abbvie Inc. | Add +4.1% | 0.45% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +3.4% | 1.60% | +0.07 |
| MPLX MPLX LP | Add +298.9% | 0.08% | +0.06 |
| MTZ Mastec Inc. | Add +583.4% | 0.07% | +0.06 |
| CGDV Cap Group Dividend Value | Add +505.0% | 0.07% | +0.06 |
| STZ Constellation Brands Inc. Class A | Add +335.2% | 0.08% | +0.06 |
| ALLW State Street Brgwtr All WTHR | New | 0.06% | +0.06 |
| PANW Palo Alto Networks Inc. | Add +40.4% | 0.22% | +0.05 |
| LRCX Lam Research Corp. | Add +268.3% | 0.06% | +0.05 |
| RMBS Rambus Inc. | Add +923.9% | 0.05% | +0.04 |
| PLGO Pelagos Insurance Capital LT | New | 0.04% | +0.04 |
| DIA SS SPDR Dow Jones Indus Avg | Add +13.6% | 0.42% | +0.04 |
| TRN Trinity Industries Inc. | Add +1416.2% | 0.04% | +0.04 |
| BX Blackstone Inc. | Add +0.4% | 0.66% | +0.04 |
| IWV iShares Russell 3000 ETF | Add +5.6% | 0.72% | +0.04 |
| SNOW Snowflake Inc. | Add +224.7% | 0.06% | +0.04 |
| MINT PIMCO Enhanced Short Maturit | New | 0.04% | +0.04 |
| AU Anglogold Ashanti PLC | New | 0.04% | +0.04 |
| AMD Advanced Micro Devices | Add +45.3% | 0.10% | +0.04 |
| RDDT Reddit Inc. Class A | Add +659.6% | 0.04% | +0.04 |
| ALSN Allison Transmission Holding | New | 0.04% | +0.04 |
| FTI Technipfmc PLC | Add +290.9% | 0.04% | +0.03 |
| DUK Duke Energy Corp. | Add +10.1% | 0.51% | +0.03 |
| CRWV Coreweave Inc. Class A | New | 0.03% | +0.03 |
| XIDE FT Vest US Equity Buffer & P | New | 0.03% | +0.03 |
| XISE FT Vest US Equity Buffer & P | New | 0.03% | +0.03 |
| XIMR FT Eqbuff&preminc - March | New | 0.03% | +0.03 |
| XIJN FT Eq Buf & Prem Inc.-June | New | 0.03% | +0.03 |
| WES Western Midstream Partners L | Add +52.5% | 0.10% | +0.03 |
| PVAL Putnam Focused LRG Cap Value | Add +297.9% | 0.04% | +0.03 |
| CDX Simplify High Yield ETF | New | 0.03% | +0.03 |
Notes & Other Activity Q2 2025 → Q3 2025
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | Add +4.3% | 76,688 | $3.8M |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | Sold out | 12,500 | $14Kbefore exit |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | Add +64.1% | 14,415 | $274 |
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 |