Style
IndexTurnover
Orientation
Index / PassiveRaymond James employs a core-satellite strategy, blending passive index exposure with selective active stock picks, as reflected in its $324.4 billion portfolio of 13,521 positions. The top three holdings—VOO at 5.6%, AGG at 2.7%, and AAPL at 2.4%—demonstrate a bias toward low-cost, broad market and fixed-income ETFs, while concentrated bets in mega-cap technology stocks like MSFT (2.0%), NVDA (1.9%), and AVGO (1.5%) reveal conviction in key growth drivers. Despite 47.0% of assets being unclassified, the 14.2% technology weighting and 7.2% financial services allocation underscore a tilt toward innovation and economic cyclicals, with a defensive undercurrent via AGG and healthcare (5.6%). The heavy use of S&P 500 and core bond ETFs alongside individual names suggests a disciplined, risk-controlled approach that prioritizes liquidity and diversification over aggressive sector or factor bets.
| # | Security | Shares | Value | % of Portfolio |
|---|---|---|---|---|
| 1 | Vanguard Index FDS(VOO) | 31,148,382 | $21.4B | 5.80% |
| 2 | Ishares TR(AGG) | 92,816,907 | $9.2B | 2.49% |
| 3 | Apple Inc(AAPL) | 30,920,718 | $8.9B | 2.43% |
| 4 | Nvidia Corporation(NVDA) | 35,890,048 | $7.2B | 1.95% |
Latest filing, equity positions only
| 5 |
| Microsoft Corp(MSFT) |
| 18,447,917 |
| $6.9B |
| 1.87% |
| 6 | Broadcom Inc(AVGO) | 16,424,241 | $6.2B | 1.68% |
| 7 | Amazon COM Inc(AMZN) | 21,159,781 | $5.0B | 1.37% |
| 8 | JPMorgan Chase & Co(JPM) | 14,783,980 | $4.8B | 1.31% |
| 9 | Alphabet Inc(GOOGL) | 12,950,768 | $4.6B | 1.25% |
| 10 | Ishares TR(IEFA) | 46,049,336 | $4.4B | 1.21% |
Quarter-over-quarter weight changes
| Sector | Prev % | Curr % | Change |
|---|---|---|---|
| Technology | 14.32% | 16.05% | +1.73% |
| Unclassified | 45.46% | 46.56% | +1.1% |
| Energy | 3.28% | 2.59% | -0.69% |
| Financial Services | 8.33% | 7.84% | -0.49% |
| Consumer Defensive | 3.33% | 2.93% | -0.4% |
| Communication Services | 4.17% | 3.79% | -0.38% |
| Consumer Cyclical | 5.18% | 4.83% | -0.35% |
| Utilities | 1.84% | 1.63% | -0.21% |
| Healthcare | 5.74% | 5.56% | -0.18% |
| Basic Materials | 1.26% | 1.12% | -0.14% |
| Real Estate | 1.17% | 1.2% | +0.03% |
| Industrials | 5.92% | 5.89% | -0.03% |
Quarter-over-quarter weight changes by market cap
| Cap Size | Prev % | Curr % | Change |
|---|---|---|---|
| Unclassified | 45.46% | 46.57% | +1.11% |
| Mega Cap | 25.79% | 26.21% | +0.42% |
| Large Cap | 24.6% | 23.05% | -1.55% |
| Mid Cap | 3.28% | 3.23% | -0.05% |
| Small Cap | 0.76% | 0.83% | +0.07% |
| Micro Cap | 0.11% | 0.11% | 0% |
Quarter-over-quarter position changes