RJ
Raymond James Financial INC SEC 13F Disclosure Analysis
Raymond James Financial INCCIK: 0000720005
Diversified strategyMomentum followerLong-term holder
Total reported value
$324.4B
Reporting period: 2026-03-31 · Number of holdings: 13521
RAYMOND JAMES FINANCIAL INC disclosed 13521 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $324.4B and a quarterly turnover rate of 14.4%.
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Personality snowflake
- Concentration
- 3.15
- Portfolio Stability
- 14.38
- Momentum/Contrarian
- 73.08
- Sector conviction
- 41.72
- Diversification
- 100
- Sizing Uniformity
- 37
Raymond James Financial INC's disclosed holdings carry a Herfindahl concentration index of 0.008 — mathematically equivalent to about 127 equally-sized positions, well below its 13521 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 6.30), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 55% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Recent moves
Trim MSFT
+2.8% -$1.8B
Trim SPY
-11.8% -$568.3M
Trim AVGO
+1.1% -$552.7M
Trim AAPL
+0.3% -$524.4M
Add MPC
-0.7% $464.1M
Add CVX
+5.8% $460.0M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
This quarter, Raymond James aggressively accumulates mega-cap technology and semiconductor leaders while trimming broad-market ETF exposure and medical devices, cementing a high-conviction positioning squeeze in the AI infrastructure stack. The fund rotates capital into information technology via a massive 5,172-stock universe, executing a precise momentum tilt despite ultra-low concentration.
Macro & Fundamentals
The manager bets on sustained information-technology outperformance and capital rotation into quality growth at the upper market cap curve; the opposing thesis expects small-mid caps and traditional cyclicals to reclaim allocation as liquidity finally loosens. By holding 5,172 names with minimal sector conviction, the portfolio hedges idiosyncratic blowups while aggressively tracking the crowding trade toward mega-cap tech.
Blind Spots / Risks
With an HHI of just 0.0078, portfolio dilution drag is severe and directly attacks P&L efficiency. Active additions to MSFT and AVGO get mechanically crushed by rapid price appreciation, forcing cash into laggard positions that generate zero returns until the eventual crowding trade triggers a liquidity trap at the top tier.
Generated by AI based on public SEC filings. Reflects past holdings only and should not be treated as investment advice.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 13521 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 5.64% | — | +4.41% | |
| 2 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 2.71% | +0.08% | +4.66% | |
| 3 | AAPL | Apple INC | Stock-Tech | 2.36% | -0.18% | +0.30% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 2.02% | -0.58% | +2.82% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 1.88% | -0.13% | +1.39% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 1.55% | -0.19% | +1.05% | |
| 7 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.36% | -0.14% | +1.33% | |
| 8 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.31% | -0.14% | +0.24% | |
| 9 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.25% | +0.05% | +3.50% | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.17% | -0.13% | -1.18% | |
| 11 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.94% | -0.19% | -11.81% | |
| 12 | WMT | Walmart INC | Stock-Consumer Staples | 0.92% | +0.06% | -2.34% | |
| 13 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.92% | — | +4.17% | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.77% | +0.10% | -1.16% | |
| 15 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 0.76% | — | +1.71% | |
| 16 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.73% | — | +4.27% | |
| 17 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.68% | -0.07% | +5.35% | |
| 18 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.67% | -0.06% | +0.52% | |
| 19 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.67% | — | +5.20% | |
| 20 | ABBV | Abbvie INC | Stock-Healthcare | 0.64% | — | +2.20% | |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.63% | — | -1.21% | |
| 22 | ETN | Eaton Corporation plc | Stock-Industrials | 0.61% | +0.08% | +3.41% | |
| 23 | HD | Home Depot INC | Stock-Consumer Disc | 0.59% | — | +1.83% | |
| 24 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 0.54% | — | +0.31% | |
| 25 | VTV | Vanguard Value ETF | ETF-Other | 0.53% | — | -0.27% | |
| 26 | V | Visa Inc-class A Shares | Stock-Financials | 0.51% | -0.09% | +0.06% | |
| 27 | VUG | Vanguard Growth ETF | ETF-Other | 0.48% | — | +7.40% | |
| 28 | ADI | Analog Devices INC | Stock-Tech | 0.48% | +0.07% | +0.45% | |
| 29 | CVX | Chevron CORP | Stock-Energy | 0.47% | +0.14% | +5.77% | |
| 30 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.46% | — | +9.27% | |
| 31 | VZ | Verizon Communications INC | Stock-Comm Services | 0.45% | +0.09% | +3.04% | |
| 32 | MSI | Motorola Solutions INC | Stock-Tech | 0.45% | +0.05% | +0.01% | |
| 33 | IWF | Ishares Russell 1000 Growth | ETF-Other | 0.45% | -0.06% | -2.33% | |
| 34 | XOM | Exxon Mobil CORP | Stock-Energy | 0.44% | +0.10% | -6.08% | |
| 35 | MPC | Marathon Petroleum CORP | Stock-Energy | 0.43% | +0.14% | -0.71% | |
| 36 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.43% | +0.06% | +2.23% | |
| 37 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.43% | — | +1.81% | |
| 38 | CB | Chubb Limited | Stock-Financials | 0.41% | — | -1.28% | |
| 39 | USMV | Ishares Msci USA Min Vol Fac | ETF-Other | 0.41% | — | +3.47% | |
| 40 | CME | Cme Group INC | Stock-Financials | 0.40% | — | +1.30% | |
| 41 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.38% | — | +2.31% | |
| 42 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.38% | — | -0.73% | |
| 43 | NEE | Nextera Energy INC | Stock-Utilities | 0.37% | +0.05% | +1.70% | |
| 44 | IWD | Ishares Russell 1000 Value E | ETF-Other | 0.36% | — | +2.48% | |
| 45 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.35% | — | -1.33% | |
| 46 | CGDV | Cap Group Dividend Value | ETF-Other | 0.34% | — | +9.51% | |
| 47 | UNP | Union Pacific CORP | Stock-Industrials | 0.33% | — | +6.14% | |
| 48 | XLK | Ss Technology Select Sector | ETF-Tech | 0.32% | — | -2.42% | |
| 49 | GLD | Spdr Gold Shares | ETF-Commodities | 0.32% | — | -2.51% | |
| 50 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.31% | — | +9.86% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+18.4%
Based on 78% of reported portfolio value with available pricing
- Stdev
- +11.4%
- Beta
- +0.81
- Alpha
- +1.5%
- Max Drawdown
- -4.7%
- Annualized Perf
- +16.6%
- Batting Avg vs S&P
- +47.1%
- Sortino
- +2.84
- Stutzer
- +0.42
- Treynor
- +0.2
- Sterling
- +1.13
- Calmar
- +3.53
- Information Ratio
- -0.52
- Tracking Error
- +3.8%
- Stdev Down
- +5.7%
- Winning Months %
- +64.7%
- Losing Months %
- +35.3%
- Best 12 Months
- +28.7%
- Worst 12 Months
- +17.1%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.41
- Stdev Sectors
- +6.6%
- Skewness
- +0.08
- Kurtosis
- +0.45
- Upside Potential
- +4.23
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Raymond James Financial INC's most significant position changes for 2026-03-31: Sold out: Astrazeneca Plc-spons Adr (AZNN); New buy: AstraZeneca PLC (AZN); Add: Microsoft CORP (MSFT) — shares +2.82%; Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -11.81%; Add: Broadcom INC (AVGO) — shares +1.05%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MPC | Marathon Petroleum CORP | +0.1% | -0.71% | Trim |
| 2 | CVX | Chevron CORP | +0.1% | +5.77% | Add |
| 3 | JNJ | Johnson & Johnson | +0.1% | -1.16% | Trim |
| 4 | XOM | Exxon Mobil CORP | +0.1% | -6.08% | Trim |
| 5 | VZ | Verizon Communications INC | +0.1% | +3.04% | Add |
| 6 | AGG | Ishares Core U.s. Aggregate | +0.1% | +4.66% | Add |
| 7 | ETN | Eaton Corporation plc | +0.1% | +3.41% | Add |
| 8 | ZTS | Zoetis INC | +0.1% | +244.01% | Add |
| 9 | IEUR | Ishares Core Msci Europe ETF | +0.1% | +374.96% | Add |
| 10 | GEV | GE Vernova INC | +0.1% | +7.58% | Add |
| 11 | ADI | Analog Devices INC | +0.1% | +0.45% | Add |
| 12 | WMT | Walmart INC | +0.1% | -2.34% | Trim |
| 13 | COST | Costco Wholesale CORP | +0.1% | +2.23% | Add |
| 14 | LIN | Linde plc | +0.1% | +37.20% | Add |
| 15 | T | At&t INC | +0.1% | +10.58% | Add |
| 16 | APD | Air Products & Chemicals INC | +0.1% | +6.81% | Add |
| 17 | TXN | Texas Instruments INC | +0.1% | +38.06% | Add |
| 18 | IEFA | Ishares Core Msci Eafe ETF | +0.1% | +3.50% | Add |
| 19 | NEE | Nextera Energy INC | +0.1% | +1.70% | Add |
| 20 | MSI | Motorola Solutions INC | +0.1% | +0.01% | Add |
| 21 | AMAT | Applied Materials INC | +0.1% | +10.05% | Add |
| 22 | CAT | Caterpillar INC | 0% | +0.71% | Add |
| 23 | BSX | Boston Scientific CORP | 0% | -14.26% | Trim |
| 24 | TSLA | Tesla INC | 0% | +5.82% | Add |
| 25 | ABT | Abbott Laboratories | 0% | -2.63% | Trim |
| 26 | MA | Mastercard INC - A | 0% | -3.46% | Trim |
| 27 | AIG | American International Group | -0.1% | -49.82% | Trim |
| 28 | ARES | Ares Management CORP - A | -0.1% | -20.76% | Trim |
| 29 | IWF | Ishares Russell 1000 Growth | -0.1% | -2.33% | Trim |
| 30 | ORCL | Oracle CORP | -0.1% | +5.20% | Add |
| 31 | GOOG | Alphabet Inc-cl C | -0.1% | +0.52% | Add |
| 32 | ACN | Accenture plc | -0.1% | -15.82% | Trim |
| 33 | IBM | Intl Business Machines CORP | -0.1% | -2.89% | Trim |
| 34 | QCOM | Qualcomm INC | -0.1% | -4.27% | Trim |
| 35 | UNH | Unitedhealth Group INC | -0.1% | -3.56% | Trim |
| 36 | META | Meta Platforms Inc-class A | -0.1% | +5.35% | Add |
| 37 | BAC | Bank Of America CORP | -0.1% | -16.30% | Trim |
| 38 | V | Visa Inc-class A Shares | -0.1% | +0.06% | Add |
| 39 | CRM | Salesforce INC | -0.1% | -3.61% | Trim |
| 40 | GOOGL | Alphabet Inc-cl A | -0.1% | -1.18% | Trim |
| 41 | NVDA | Nvidia CORP | -0.1% | +1.39% | Add |
| 42 | MDT | Medtronic plc | -0.1% | -34.40% | Trim |
| 43 | AMZN | Amazon.com INC | -0.1% | +1.33% | Add |
| 44 | JPM | Jpmorgan Chase & Co | -0.1% | +0.24% | Add |
| 45 | AAPL | Apple INC | -0.2% | +0.30% | Add |
| 46 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.2% | -11.81% | Trim |
| 47 | AVGO | Broadcom INC | -0.2% | +1.05% | Add |
| 48 | MSFT | Microsoft CORP | -0.6% | +2.82% | Add |
| 49 | AZNN | Astrazeneca Plc-spons Adr | — | EXIT | Sold out |
| 50 | AZN | AstraZeneca PLC | — | NEW | New buy |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-18 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-04-23 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-02-13 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-02-06 | 13F-HR | View on EDGAR |
FAQ
What is Raymond James Financial INC and what type of investor is it?
Raymond James Financial INC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $324.4B, spread across 13521 disclosed positions.
What are Raymond James Financial INC's largest equity positions?
Based on the latest 13F filing, Raymond James Financial INC's top holdings by market value are:
1. Vanguard S&p 500 ETF (VOO) — $18.3B (5.6%)
2. Ishares Core U.s. Aggregate (AGG) — $8.8B (2.7%)
3. Apple INC (AAPL) — $7.7B (2.4%)
4. Microsoft CORP (MSFT) — $6.6B (2.0%)
5. Nvidia CORP (NVDA) — $6.1B (1.9%)
What changes did Raymond James Financial INC make in its most recent portfolio filing?
In the latest reported quarter, Raymond James Financial INC made 50 notable position adjustments: 1 new positions were initiated, 29 existing holdings were added to, 19 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Astrazeneca Plc-spons Adr (AZNN); New buy: AstraZeneca PLC (AZN); Add: Microsoft CORP (MSFT) — shares +2.82%; Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -11.81%; Add: Broadcom INC (AVGO) — shares +1.05%
What sectors does Raymond James Financial INC focus on?
Raymond James Financial INC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 26.2%
• Financials: 14.0%
• Industrials: 12.0%
• Health Care: 11.2%
• Consumer Discretionary: 9.5%
• Communication Services: 7.5%
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