Stephens Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Stephens Inc. reported 1,299 stock positions worth $8.0 billion. Its top holding was Apple (AAPL) at 2.8% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 2.8%) and Microsoft (MSFT, 2.2%). Compared with Q3 2025, it opened 69 new positions, sold out of 92, added to 537 and reduced 544. The biggest buy was Alphabet Class A (GOOGL, shares +4%) and the biggest sale Blue Owl Capital (OBDC, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0000757657
- Portfolio Value
- $8.0B (Q4 2025)
- SEC Filing
- 0000757657-26-000003 ↗ filed Feb 5, 2026
Holdings Value
Holdings 1,299 stocks · $8.0B
| AAPL Apple Inc. | 2.84% | 837,578 | $228.0M | Add +1.7% |
| VTI VG Morningstar TS MKT ETF-US | 2.81% | 673,618 | $225.8M | Reduce -3.7% |
| MSFT Microsoft Corp. | 2.18% | 361,089 | $174.9M | Add +2.7% |
| QQQ Invesco QQQ Trust Series 1 | 2.05% | 267,960 | $164.6M | Add +3.6% |
| WMT Walmart Inc. | 2.00% | 1,443,129 | $160.8M | Add +4.0% |
| NVDA Nvidia Corp. | 1.83% | 785,792 | $146.7M | Add +1.2% |
| AVGO Broadcom Inc. | 1.74% | 402,813 | $139.5M | Add +0.8% |
| AMZN Amazon.com Inc. | 1.72% | 598,815 | $138.5M | Add +5.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.67% | 196,868 | $134.2M | Add +2.4% |
| JPM JPMorgan Chase & Co. | 1.67% | 414,791 | $133.8M | Add +4.5% |
| IWD iShares Russell 1000 Value E | 1.63% | 621,161 | $130.7M | Reduce -1.2% |
| IWF iShares Russell 1000 Growth | 1.51% | 255,439 | $120.9M | Add +0.3% |
| IWS iShares Russell Mid-Cap Valu | 1.48% | 840,698 | $118.6M | Reduce -0.4% |
| GOOGL Alphabet Inc. Class A | 1.33% | 341,456 | $106.9M | Add +3.9% |
| GOOG Alphabet Inc. Class C | 1.28% | 327,473 | $102.9M | Reduce -1.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.99% | 418,398 | $79.9M | Add +3.9% |
| IWP iShares Russell Mid-Cap Grow | 0.94% | 549,864 | $75.3M | Add +0.9% |
| VOO Vanguard S&P 500 ETF | 0.89% | 113,894 | $71.4M | Add +9.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.85% | 139,581 | $68.1M | Add +3.3% |
| GS Goldman Sachs Group Inc. | 0.83% | 76,242 | $67.0M | Add +11.7% |
| META Meta Platforms Inc. Class A | 0.77% | 93,334 | $61.7M | Add +2.6% |
| IWV iShares Russell 3000 ETF | 0.76% | 157,056 | $60.8M | Add +6.0% |
| IOO iShares Global 100 ETF | 0.74% | 471,532 | $59.7M | Add +12.7% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.71% | 267,844 | $56.7M | Reduce -0.2% |
| MA Mastercard Inc. Class A | 0.65% | 90,926 | $51.9M | Reduce -0.7% |
| AMLP Alerian MLP ETF | 0.59% | 1,012,846 | $47.6M | Reduce -6.6% |
| SCHD Schwab US DVD Equity ETF | 0.58% | 1,708,508 | $46.9M | Add +28.9% |
| PLTR Palantir Technologies Inc. Class A | 0.58% | 252,944 | $46.7M | Reduce -4.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.57% | 576,507 | $46.0M | Reduce -4.8% |
| BX Blackstone Inc. | 0.57% | 296,169 | $45.7M | Reduce -2.4% |
| VONG Vanguard Russell 1000 Growth | 0.55% | 364,923 | $44.4M | Reduce -2.1% |
| KRUS Kura Sushi USA Inc. Class A | 0.55% | 839,308 | $43.9M | Add +15.3% |
| V Visa Inc. Class A | 0.54% | 123,415 | $43.3M | Add +8.8% |
| BIV Vanguard Intermediate-Term B | 0.53% | 548,733 | $42.7M | Add +16.7% |
| XOM Exxon Mobil Corp. | 0.53% | 350,476 | $42.3M | Add +1.0% |
| IWR iShares Russell Mid-Cap ETF | 0.51% | 425,152 | $40.9M | Reduce -0.1% |
| JPST JPMorgan Ultra-Short Income | 0.51% | 806,296 | $40.8M | Add +6.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.50% | 138,968 | $40.3M | Add +8.8% |
| LLY Eli Lilly & Co. | 0.50% | 37,399 | $40.3M | Reduce -2.4% |
| SHY iShares 1-3 Year Treasury Bo | 0.50% | 485,202 | $40.2M | Reduce -5.4% |
| CVX Chevron Corp. | 0.49% | 260,468 | $39.8M | Reduce -1.6% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.49% | 130,633 | $39.5M | Reduce -3.5% |
| JNJ Johnson & Johnson | 0.49% | 190,028 | $39.3M | Reduce -2.5% |
| MOAT Vaneck Morningstar Wide Moat | 0.48% | 375,398 | $38.9M | Add +0.5% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.48% | 79,639 | $38.3M | Add +11.2% |
| CSCO Cisco Systems Inc. | 0.47% | 484,965 | $37.5M | Reduce -6.8% |
| MRK Merck & Co. Inc. | 0.45% | 342,140 | $36.2M | Add +8.7% |
| DUK Duke Energy Corp. | 0.45% | 307,179 | $36.0M | Reduce -4.2% |
| JEPI JPMorgan Equity Premium Inco | 0.44% | 619,861 | $35.5M | Reduce -3.8% |
| AMGN Amgen Inc. | 0.43% | 105,450 | $34.6M | Add +10.4% |
| VRP Invesco Variable Rate Prefer | 0.43% | 1,413,819 | $34.4M | Reduce -0.1% |
| ABBV Abbvie Inc. | 0.43% | 150,392 | $34.4M | Reduce -0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.43% | 67,901 | $34.2M | Reduce -2.8% |
| APH Amphenol Corp. Class A | 0.42% | 249,845 | $33.8M | Reduce -11.0% |
| CAT Caterpillar Inc. | 0.42% | 58,243 | $33.4M | Reduce -4.8% |
| MLM Martin Marietta Materials | 0.40% | 51,326 | $32.0M | Add +11.2% |
| IWB iShares Russell 1000 ETF | 0.40% | 85,216 | $31.8M | Add +2.2% |
| VEA Vanguard Ftse Developed ETF | 0.39% | 502,121 | $31.4M | Reduce -3.1% |
| NEM Newmont Corp. | 0.38% | 305,702 | $30.5M | Add +34.5% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.38% | 576,009 | $30.5M | Reduce -11.0% |
| VGSH Vanguard Short-Term Treasury | 0.36% | 495,967 | $29.1M | Add +7.2% |
| APO Apollo Global Management Inc. | 0.35% | 195,641 | $28.3M | Reduce -4.7% |
| FTCB FT Core Investment Grade ETF | 0.33% | 1,260,669 | $26.8M | Add +3.6% |
| LOW Lowe's Cos Inc. | 0.33% | 110,757 | $26.7M | Reduce -0.2% |
| IWM iShares Russell 2000 ETF | 0.33% | 107,259 | $26.4M | Add +8.5% |
| WM Waste Management Inc. | 0.33% | 119,619 | $26.3M | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.33% | 477,583 | $26.3M | Reduce -5.7% |
| QCOM Qualcomm Inc. | 0.33% | 152,733 | $26.3M | Add +0.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.33% | 101,507 | $26.2M | Reduce -4.1% |
| KTOS Kratos Defense & Security | 0.32% | 339,994 | $25.8M | Reduce -3.9% |
| MDT Medtronic PLC | 0.32% | 267,618 | $25.8M | Reduce -0.8% |
| FDL First Trust Morn DVD Lead Inc. | 0.30% | 548,765 | $24.3M | Add +5.3% |
| TSLA Tesla Inc. | 0.30% | 53,348 | $24.3M | Add +0.1% |
| VIG Vanguard Dividend Apprec ETF | 0.30% | 110,610 | $24.3M | Reduce -1.9% |
| SGOV iShares 0-3 Month Treasury B | 0.30% | 240,655 | $24.2M | Add +36.9% |
| IAU iShares Gold Trust | 0.29% | 286,578 | $23.3M | Reduce -5.8% |
| KKR KKR & Co. Inc. | 0.29% | 181,593 | $23.1M | Reduce -3.7% |
| ARCC Ares Capital Corp. | 0.29% | 1,136,260 | $23.0M | Reduce -3.3% |
| EFA iShares MSCI Eafe ETF | 0.29% | 238,672 | $22.9M | Add +27.6% |
| ET Energy Transfer LP | 0.28% | 1,381,332 | $22.8M | Reduce -1.2% |
| JCPB JPMorgan Core Plus Bond ETF | 0.28% | 477,714 | $22.6M | Add +3.0% |
| HD Home Depot Inc. | 0.27% | 63,825 | $22.0M | Add +0.3% |
| MCD McDonald's Corp. | 0.27% | 70,595 | $21.6M | Add +1.5% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.27% | 110,189 | $21.5M | Reduce -2.6% |
| KO The Coca-Cola Co. | 0.26% | 299,709 | $21.2M | Reduce -0.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 70,856 | $21.0M | Add +1.4% |
| AGG iShares Core U.S. Aggregate | 0.26% | 207,813 | $20.8M | Add +10.9% |
| OBDC Blue Owl Capital Corp. | 0.26% | 1,665,358 | $20.7M | Reduce -32.2% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.26% | 116,248 | $20.6M | Add +2.1% |
| USRT iShares Core US REIT ETF | 0.26% | 360,652 | $20.5M | Add +10.9% |
| QUAL iShares MSCI USA Quality Fac | 0.25% | 99,680 | $19.8M | Reduce -1.1% |
| FJAN FT Vest U.S. Equity Buffer E | 0.24% | 375,135 | $19.4M | Reduce -29.4% |
| EPD Enterprise Products Partners | 0.24% | 605,273 | $19.4M | Reduce -3.5% |
| PEP Pepsico Inc. | 0.24% | 133,788 | $19.3M | Reduce -2.8% |
| FFEB FT Vest US Equity Buffer ETF | 0.24% | 341,275 | $19.3M | Reduce -25.9% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.24% | 274,015 | $19.2M | Add +1.9% |
| RTX RTX Corp. | 0.24% | 103,773 | $19.1M | Add +0.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.24% | 62,033 | $18.9M | Add +16.5% |
| CGMS Cap Group US Multi-Sect Bond | 0.23% | 682,526 | $18.9M | Add +12.7% |
| LMT Lockheed Martin Corp. | 0.23% | 38,412 | $18.7M | Reduce -1.3% |
Other holdings (1): 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 | 78,299 | $3.8M | Add +2.1% |
Total filed on the 13F, all lines: $8.0B.
Portfolio Sells Q3 2025 → Q4 2025
| OBDC Blue Owl Capital Corp. | Reduce -32.2% | 0.26% | −0.14 |
| CMCSA Comcast Corp. Class A | Reduce -74.4% | 0.04% | −0.13 |
| ORCL Oracle Corp. | Reduce -21.9% | 0.14% | −0.12 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.7% | 2.81% | −0.12 |
| EBAY eBay Inc. | Reduce -91.0% | 0.01% | −0.10 |
| FJAN FT Vest U.S. Equity Buffer E | Reduce -29.4% | 0.24% | −0.10 |
| BX Blackstone Inc. | Reduce -2.4% | 0.57% | −0.09 |
| KTOS Kratos Defense & Security | Reduce -3.9% | 0.32% | −0.09 |
| FFEB FT Vest US Equity Buffer ETF | Reduce -25.9% | 0.24% | −0.08 |
| NFLX Netflix Inc. | Reduce -5.1% | 0.21% | −0.08 |
| T AT&T Inc. | Reduce -13.3% | 0.21% | −0.07 |
| OWL Blue Owl Capital Inc. | Reduce -34.1% | 0.09% | −0.07 |
| PFF iShares Preferred & Income S | Reduce -19.9% | 0.20% | −0.06 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -11.0% | 0.38% | −0.06 |
| DUK Duke Energy Corp. | Reduce -4.2% | 0.45% | −0.06 |
| ZTS Zoetis Inc. | Reduce -7.2% | 0.20% | −0.06 |
| ETN Eaton Corp. PLC | Reduce -4.8% | 0.22% | −0.06 |
| AMLP Alerian MLP ETF | Reduce -6.6% | 0.59% | −0.06 |
| FMAR FT Vest US Equity Buffer ETF | Reduce -27.4% | 0.14% | −0.05 |
| PLTR Palantir Technologies Inc. Class A | Reduce -4.6% | 0.58% | −0.05 |
| POCT Innovator U.S. Equity Power | Reduce -35.0% | 0.09% | −0.05 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -4.8% | 0.57% | −0.05 |
| AMT American Tower Corp. | Reduce -16.0% | 0.13% | −0.05 |
| FAPR FT Vest U.S. Equity Buffer E | Reduce -40.8% | 0.06% | −0.04 |
| ZS Zscaler Inc. | Reduce -89.0% | 0.00% | −0.04 |
| PFEB Innovator U.S. Equity Power | Sold out | 0.00% | −0.04 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -5.4% | 0.50% | −0.04 |
| APP AppLovin Corp. Class A | Reduce -25.7% | 0.08% | −0.04 |
| MUB iShares National Muni Bond E | Reduce -62.0% | 0.02% | −0.04 |
| EQH Equitable Holdings Inc. | Sold out | 0.00% | −0.04 |
| BND Vanguard Total Bond Market | Reduce -28.3% | 0.09% | −0.04 |
| FMAY FT Vest US Equity Buffer ETF | Reduce -40.3% | 0.06% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -6.0% | 0.18% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -13.9% | 0.13% | −0.04 |
| RDDT Reddit Inc. Class A | Reduce -87.6% | 0.00% | −0.03 |
| MELI MercadoLibre Inc. | Reduce -39.7% | 0.03% | −0.03 |
| HPQ HP Inc. | Reduce -90.4% | 0.00% | −0.03 |
| CVX Chevron Corp. | Reduce -1.6% | 0.49% | −0.03 |
| ITOT iShares Core S&P Total U.S. | Sold out | 0.00% | −0.03 |
| JEPI JPMorgan Equity Premium Inco | Reduce -3.8% | 0.44% | −0.03 |
| ABT Abbott Laboratories | Reduce -6.3% | 0.16% | −0.03 |
| NKE Nike Inc. Class B | Reduce -35.9% | 0.04% | −0.03 |
| IWS iShares Russell Mid-Cap Valu | Reduce -0.4% | 1.48% | −0.03 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -45.9% | 0.03% | −0.03 |
| FJUN FT Vest US Equity Buff ETF-J | Reduce -31.4% | 0.05% | −0.03 |
| MEAR Ishrs Short Mat Muni Act ETF | Reduce -20.4% | 0.09% | −0.03 |
| KKR KKR & Co. Inc. | Reduce -3.7% | 0.29% | −0.02 |
| PTNQ Pacer Trendpilot 100 ETF | Reduce -34.5% | 0.04% | −0.02 |
| HEQT Simplify Hedged Equity ETF | Reduce -22.3% | 0.08% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -0.2% | 0.33% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +3.9% | 1.33% | +0.31 |
| WMT Walmart Inc. | Add +4.0% | 2.00% | +0.18 |
| AAPL Apple Inc. | Add +1.7% | 2.84% | +0.16 |
| GS Goldman Sachs Group Inc. | Add +11.7% | 0.83% | +0.14 |
| AMZN Amazon.com Inc. | Add +5.9% | 1.72% | +0.14 |
| NEM Newmont Corp. | Add +34.5% | 0.38% | +0.14 |
| SCHD Schwab US DVD Equity ETF | Add +28.9% | 0.58% | +0.12 |
| MRK Merck & Co. Inc. | Add +8.7% | 0.45% | +0.11 |
| IOO iShares Global 100 ETF | Add +12.7% | 0.74% | +0.10 |
| OTF Blue Owl Technology Finance | New | 0.10% | +0.10 |
| AMGN Amgen Inc. | Add +10.4% | 0.43% | +0.09 |
| TGT Target Corp. | Add +362.8% | 0.10% | +0.08 |
| SGOV iShares 0-3 Month Treasury B | Add +36.9% | 0.30% | +0.07 |
| VOO Vanguard S&P 500 ETF | Add +9.1% | 0.89% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +4.5% | 1.67% | +0.07 |
| QQQ Invesco QQQ Trust Series 1 | Add +3.6% | 2.05% | +0.07 |
| CGGO Cap Group Global Growth | Add +69.7% | 0.16% | +0.06 |
| BIV Vanguard Intermediate-Term B | Add +16.7% | 0.53% | +0.06 |
| EFA iShares MSCI Eafe ETF | Add +27.6% | 0.29% | +0.06 |
| AVGO Broadcom Inc. | Add +0.8% | 1.74% | +0.06 |
| SLV iShares Silver Trust | Add +17.1% | 0.13% | +0.06 |
| DIA SS SPDR Dow Jones Indus Avg | Add +11.2% | 0.48% | +0.05 |
| MTZ Mastec Inc. | Add +74.7% | 0.12% | +0.05 |
| GRNY Fundstr Gran SH US LRG Cap | Add +1005.7% | 0.05% | +0.05 |
| TSM Taiwan Semiconductor-SP ADR | Add +16.5% | 0.24% | +0.05 |
| V Visa Inc. Class A | Add +8.8% | 0.54% | +0.04 |
| INTU Intuit Inc. | Add +44.6% | 0.16% | +0.04 |
| LIN Linde PLC | Add +91.2% | 0.11% | +0.04 |
| IWV iShares Russell 3000 ETF | Add +6.0% | 0.76% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +3.9% | 0.99% | +0.04 |
| FSLR First Solar Inc. | Add +30.5% | 0.10% | +0.04 |
| KNX Knight-Swift Transportation | Add +0.0% | 0.15% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +2.4% | 1.67% | +0.03 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Add +86.6% | 0.08% | +0.03 |
| VYM Vanguard High DVD Yield ETF | Add +28.9% | 0.15% | +0.03 |
| ALLW State Street Brgwtr All WTHR | Add +63.4% | 0.09% | +0.03 |
| GPIX GLDM SA S&P 500 PR in ETF-US | Add +511.5% | 0.04% | +0.03 |
| FDX FedEx Corp. | Add +0.3% | 0.18% | +0.03 |
| CGCB Cap Group Core Bond | Add +18.8% | 0.23% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +23.7% | 0.16% | +0.03 |
| GSSC Goldman Sachs Activebeta US | Add +114.0% | 0.06% | +0.03 |
| CGDV Cap Group Dividend Value | Add +40.5% | 0.10% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +30.2% | 0.17% | +0.03 |
| BMY Bristol-Myers Squibb Co. | Add +1.4% | 0.19% | +0.03 |
| GE General Electric | Add +15.9% | 0.21% | +0.03 |
| ISRG Intuitive Surgical Inc. | Add +19.6% | 0.08% | +0.03 |
| XOM Exxon Mobil Corp. | Add +1.0% | 0.53% | +0.03 |
| STZ Constellation Brands Inc. Class A | Add +31.6% | 0.11% | +0.03 |
| MLM Martin Marietta Materials | Add +11.2% | 0.40% | +0.03 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +49.4% | 0.08% | +0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | Add +2.1% | 78,299 | $3.8M |
| CLEARBRIDGE ENERGY MI-RT | RIGHT 10/10/2025 | Sold out | 14,415 | $274before 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 | 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 |