Stifel Financial Corp
Reported US equity positions for Q1 2026 — $108.8B across 8,981 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| NVDA NVIDIA Corporation | $2.9B | 2.7% | 16,569,037 |
| AAPL Apple Inc. | $2.8B | 2.6% | 11,053,456 |
| MSFT Microsoft Corporation | $2.5B | 2.3% | 6,663,492 |
| AMZN Amazon.com, Inc. | $1.7B | 1.6% | 8,261,486 |
| GOOGL Alphabet Inc. | $1.7B | 1.5% | 5,849,423 |
| AVGO Broadcom Inc. | $1.4B | 1.3% | 4,492,789 |
| JPM JP Morgan Chase & Co. | $1.1B | 1.0% | 3,849,282 |
| JNJ Johnson & Johnson | $1.1B | 1.0% | 4,489,121 |
| SPY State Street SPDR S&P 500 ETF Trust | $1.1B | 1.0% | 1,627,679 |
| CSCO Cisco Systems, Inc. | $1.0B | 1.0% | 13,476,992 |
| IEFA iShares Core MSCI EAFE ETF | $1.0B | 1.0% | 11,481,025 |
| MRK Merck & Company, Inc. Common Stock (new) | $997.4M | 0.9% | 8,291,826 |
| V Visa Inc. | $991.1M | 0.9% | 3,278,999 |
| PEP PepsiCo, Inc. | $984.8M | 0.9% | 6,341,641 |
| GOOG Alphabet Inc. - Class C Capital Stock | $970.9M | 0.9% | 3,384,498 |
| VOO Vanguard S&P 500 ETF | $945.5M | 0.9% | 1,582,234 |
| IVW iShares S&P 500 Growth ETF | $824.7M | 0.8% | 7,291,428 |
| HD The Home Depot, Inc. | $822.2M | 0.8% | 2,499,706 |
| ABBV AbbVie Inc. | $811.7M | 0.7% | 3,732,204 |
| META Meta Platforms, Inc. | $795.2M | 0.7% | 1,389,771 |
| AGG iShares Core U.S. Aggregate Bond ETF | $726.6M | 0.7% | 7,319,250 |
| LMT Lockheed Martin Corporation | $723.6M | 0.7% | 1,197,183 |
| LLY Eli Lilly and Company | $716.7M | 0.7% | 779,157 |
| COST Costco Wholesale Corporation | $700.6M | 0.6% | 702,918 |
| IVE iShares S&P 500 Value ETF | $688.6M | 0.6% | 3,261,014 |
| PG The Procter & Gamble Company | $661.4M | 0.6% | 4,578,841 |
| IBM International Business Machines Corporation | $649.0M | 0.6% | 2,677,248 |
| CVX Chevron Corporation | $638.1M | 0.6% | 3,084,168 |
| KO The Coca-Cola Company | $634.6M | 0.6% | 8,344,878 |
| XOM ExxonMobil Holdings Corporation | $632.7M | 0.6% | 3,729,167 |
| QQQ Invesco QQQ Trust, Series 1 | $626.5M | 0.6% | 1,085,239 |
| TXN Texas Instruments Incorporated | $571.0M | 0.5% | 2,941,364 |
| AMGN Amgen Inc. | $547.2M | 0.5% | 1,555,021 |
| IWF iShares Russell 1000 Growth Fund | $535.2M | 0.5% | 1,255,151 |
| UNP Union Pacific Corporation | $525.1M | 0.5% | 2,164,416 |
| VEA Vanguard FTSE Developed Markets ETF | $517.8M | 0.5% | 8,080,270 |
| G29183103 Eaton Corp PLC | $516.4M | 0.5% | 1,443,704 |
| G5960L103 Medtronic PLC | $499.0M | 0.5% | 5,758,966 |
| WM Waste Management, Inc. | $491.3M | 0.5% | 2,138,041 |
| NFLX Netflix, Inc. | $487.1M | 0.4% | 5,065,651 |
| TJX The TJX Companies, Inc. | $479.7M | 0.4% | 3,003,930 |
| APD Air Products and Chemicals, Inc. | $477.7M | 0.4% | 1,644,429 |
| IVV iShares Core S&P 500 ETF | $469.8M | 0.4% | 719,143 |
| APH Amphenol Corporation | $468.5M | 0.4% | 3,707,682 |
| CMI Cummins Inc. | $452.5M | 0.4% | 840,971 |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | $439.7M | 0.4% | 4,797,901 |
| G1151C101 Accenture PLC Ireland | $436.7M | 0.4% | 2,202,108 |
| CL Colgate-Palmolive Company | $423.3M | 0.4% | 4,966,975 |
| BRK.B Berkshire Hathaway Inc. | $423.0M | 0.4% | 882,806 |
| WMT Walmart Inc. | $421.3M | 0.4% | 3,389,564 |
| ITW Illinois Tool Works Inc. | $412.3M | 0.4% | 1,584,113 |
| CAT Caterpillar, Inc. | $409.1M | 0.4% | 577,396 |
| VMBS Vanguard Mortgage-Backed Securities ETF | $408.1M | 0.4% | 8,691,596 |
| RTX RTX Corporation | $407.0M | 0.4% | 2,110,075 |
| HONGBP Honeywell Intl INC | $404.0M | 0.4% | 1,787,117 |
| CHD Church & Dwight Company, Inc. | $400.4M | 0.4% | 4,290,136 |
| MRSH Marsh | $400.2M | 0.4% | 2,307,361 |
| ABT Abbott Laboratories | $396.9M | 0.4% | 3,865,545 |
| GWW W.W. Grainger, Inc. | $391.2M | 0.4% | 358,629 |
| BAC Bank of America Corporation | $375.8M | 0.3% | 7,486,988 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| NVDA NVIDIA Corporation | Trim | $2.9B | $3.2B | -3% |
| AAPL Apple Inc. | Trim | $2.8B | $3.1B | -2% |
| MSFT Microsoft Corporation | Trim | $2.5B | $3.4B | -5% |
| AMZN Amazon.com, Inc. | Trim | $1.7B | $1.9B | -1% |
| GOOGL Alphabet Inc. | Trim | $1.7B | $1.9B | -2% |
| AVGO Broadcom Inc. | Trim | $1.4B | $1.6B | -3% |
| JPM JP Morgan Chase & Co. | Trim | $1.1B | $1.3B | -1% |
| JNJ Johnson & Johnson | Trim | $1.1B | $1.0B | -8% |
| SPY State Street SPDR S&P 500 ETF Trust | Trim | $1.1B | $1.1B | -3% |
| IEFA iShares Core MSCI EAFE ETF | Add | $1.0B | $994.4M | +3% |
| MRK Merck & Company, Inc. Common Stock (new) | Trim | $997.4M | $899.7M | -3% |
| V Visa Inc. | Trim | $991.1M | $1.2B | -3% |
| VOO Vanguard S&P 500 ETF | Add | $945.5M | $979.1M | +1% |
| IVW iShares S&P 500 Growth ETF | Add | $824.7M | $853.3M | +5% |
| ABBV AbbVie Inc. | Add | $811.7M | $563.8M | +51% |
| META Meta Platforms, Inc. | Trim | $795.2M | $935.5M | -2% |
| AGG iShares Core U.S. Aggregate Bond ETF | Trim | $726.6M | $749.7M | -2% |
| LMT Lockheed Martin Corporation | Trim | $723.6M | $598.9M | -3% |
| LLY Eli Lilly and Company | Trim | $716.7M | $853.0M | -2% |
| COST Costco Wholesale Corporation | Trim | $700.6M | $624.4M | -3% |
| PG The Procter & Gamble Company | Add | $661.4M | $648.0M | +1% |
| IBM International Business Machines Corporation | Trim | $649.0M | $807.9M | -2% |
| CVX Chevron Corporation | Trim | $638.1M | $482.2M | -3% |
| KO The Coca-Cola Company | Trim | $634.6M | $597.3M | -2% |
| XOM ExxonMobil Holdings Corporation | Trim | $632.7M | $480.4M | -7% |
| QQQ Invesco QQQ Trust, Series 1 | Add | $626.5M | $611.8M | +9% |
| AMGN Amgen Inc. | Trim | $547.2M | $521.9M | -2% |
| IWF iShares Russell 1000 Growth Fund | Trim | $535.2M | $607.8M | -2% |
| UNP Union Pacific Corporation | Trim | $525.1M | $510.3M | -2% |
| VEA Vanguard FTSE Developed Markets ETF | Trim | $517.8M | $561.7M | -10% |
| G29183103 Eaton Corp PLC | Add | $516.4M | $452.2M | +2% |
| G5960L103 Medtronic PLC | Trim | $499.0M | $563.7M | -2% |
| WM Waste Management, Inc. | Trim | $491.3M | $482.4M | -3% |
| NFLX Netflix, Inc. | Add | $487.1M | $456.0M | +4% |
| TJX The TJX Companies, Inc. | Trim | $479.7M | $473.5M | -3% |
| APD Air Products and Chemicals, Inc. | Add | $477.7M | $389.2M | +4% |
| IVV iShares Core S&P 500 ETF | Add | $469.8M | $468.5M | +5% |
| APH Amphenol Corporation | Add | $468.5M | $493.5M | +2% |
| CMI Cummins Inc. | Trim | $452.5M | $471.1M | -9% |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | Add | $439.7M | $426.1M | +3% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.