Data as of Q4 2025 (Dec 31, 2025)·Next filing deadline: May 15, 2026

STEPHENS INC /AR/

•CIK: 757657•Filing: Q4 2025

Stephens Inc. /AR/, managed by Stephen P. Mandel, known for his quantitative approach, holds $8.0B in assets across 1,300 positions, with top holdings in AAPL, VTI, and MSFT. Recently, the fund has exited PFEB, FITBM, and significantly cut ZS and 7HP, while adding OTF, UL, GUNR, and notably increasing positions in DYH and DELL.

Total AUM

$8.0B

QoQ Performance

+2.5%

Positions

913

Top 10 Concentration

26.0%

Latest Filing

Q4 2025

Top Holdings Allocation

AAPL2.8%

VTI2.8%

MSFT2.2%

NDQ2.0%

WMT2.0%

NVDA1.8%

AVGO1.7%

AMZN1.7%

📈 Biggest Buys

NETFLIX INC

+849.2%

0.2% of portfolio

SCHWAB STRATEGIC TR

+28.9%

0.6% of portfolio

BLUE OWL TECHNOLOGY FIN CORP

NEW

0.1% of portfolio

NEWMONT CORP

+34.5%

0.4% of portfolio

AMAZON COM INC

+5.9%

1.7% of portfolio

📉 Biggest Sells

BLUE OWL CAPITAL CORPORATION

-32.2%

0.3% of portfolio

VANGUARD INDEX FDS

-3.7%

2.8% of portfolio

FIRST TR EXCHNG TRADED FD VI

-29.4%

0.2% of portfolio

FIRST TR EXCHNG TRADED FD VI

-25.9%

0.2% of portfolio

FIRST TR EXCHNG TRADED FD VI

-27.4%

0.1% of portfolio

Sector Breakdown

Other56.7%

Technology17.7%

Consumer6.4%

Financial6.1%

Healthcare4.3%

ETF3.5%

Industrial2.0%

Utilities1.0%

🚪 Exited Positionssold since Q3 2025

COMCAST CORP NEW

SOLD

$13.0M

BLUE OWL CAPITAL INC

SOLD

$12.1M

INNOVATOR ETFS TRUST

SOLD

$10.8M

VANGUARD BD INDEX FDS

SOLD

$9.9M

APPLOVIN CORP

SOLD

$9.8M

+1117 more exited positions

Changes from Q3 2025

NEW1 new position

↑109 increased

↓90 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

VANGUARD INDEX FDS

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