RAYMOND JAMES FINANCIAL INC

Raymond James Financial's 13F book edged up to $324.4B in Q1 2026 from $321.4B. Its largest holding is the Vanguard S&P 500 ETF (5.64%), followed by the iShares Core Aggregate Bond ETF (2.71%), Apple (2.36%), and Microsoft (2.02%) — an advisory book balancing equity beta with fixed income. The quarter's reductions hit Microsoft (-$1.8B), the SPDR S&P 500 ETF (-$568M), Broadcom (-$553M), and Apple (-$524M), while builds went to Chevron (+$460M), Johnson & Johnson (+$358M), and Exxon Mobil (+$353M). New positions opened in Invesco QQQ, Marathon Petroleum, Union Pacific, the SPDR Gold Trust, and a Vanguard developed-markets ETF.