INDEPENDENT FINANCIAL GROUP, LLC

CIK

275484

Location

SAN DIEGO, CA

Portfolio Value

Mid $2,202,988,193

Diversification

Diversified

Filing Date

Global Rank

#1,131 / 8,588 ▼ 25

Top Industry

Semiconductors 25.4%

3Y Alpha vs SPY

-0.2%

Period ended 3 months ago

Filed May 15, 2026 · 33d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+75.8%

SPY

+76.8%

Annualised alpha

-0.2%

Max drawdown

−22.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

681 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

13.4%

−0.2 pts

Top 5

31.9%

−1.2 pts

Top 10

43.3%

−2.3 pts

HHI

320

Diversified−18

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	40.3%	$888,789,305	108
Unclassified	12.5%	$275,304,325	25
Financial Services	11.5%	$253,371,313	165
Consumer Cyclical	8.0%	$176,781,068	51
Communication Services	5.9%	$129,262,279	21
Industrials	5.2%	$113,979,575	82
Consumer Defensive	3.9%	$86,085,431	28
Healthcare	3.6%	$79,598,200	58
Real Estate	3.5%	$76,969,097	40
Energy	3.0%	$66,503,182	43
Basic Materials	1.8%	$38,574,428	43
Utilities	0.8%	$17,769,990	17

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PSEC	Prospect Capital Corp	+2,105,502	3,460,351	$9,031,516
BPRE	Bluerock Private Real Estate Fund	+298,028	1,156,813	$19,214,663
T	At&T Inc.	+81,242	206,097	$5,974,752
PBR	Petrobras - Petroleo Brasileiro SA	+78,346	90,846	$1,885,054
OXY	Occidental Petroleum Corp /De/	+64,590	72,306	$4,699,890
VOD	Vodafone Group Public Ltd Co	+54,133	976,548	$14,667,750
VZ	Verizon Communications Inc	+53,603	196,912	$9,884,982
GAB	Gabelli Equity Trust Inc	+44,167	585,670	$3,279,752
NREF	NexPoint Real Estate Finance, Inc.	+38,468	276,601	$3,725,815
ARR	Armour Residential REIT, Inc.	+37,015	89,397	$1,491,141
BMNR	Bitmine Immersion Technologies, Inc.	+29,425	239,244	$4,732,246
RFI	Cohen & Steers Total Return Realty Fund Inc	+28,081	259,495	$2,890,774
ORC	Orchid Island Capital, Inc.	+27,927	240,496	$1,690,686
RNP	Cohen & Steers REIT & Preferred & Income Fund Inc	+26,936	38,334	$757,479
FSSL	FS Specialty Lending Fund	+25,813	258,524	$3,234,135
XOM	Exxon Mobil Corp	+24,936	96,212	$16,323,327
FETH	Fidelity Ethereum Fund	+24,819	65,058	$1,358,411
STWD	Starwood Property Trust, Inc.	+24,278	317,206	$5,462,287
BXMT	Blackstone Mortgage Trust, Inc.	+23,802	302,797	$5,798,562
UTF	Cohen & Steers Infrastructure Fund Inc	+23,487	117,507	$3,041,081
B	Barrick Mining Corp	+21,492	69,440	$2,832,457
VICI	Vici Properties Inc.	+20,918	63,305	$1,729,492
FDUS	FIDUS INVESTMENT Corp	+19,911	30,961	$539,340
CVX	Chevron Corp	+16,193	46,563	$9,633,884
HTGC	Hercules Capital, Inc.	+16,059	84,349	$1,245,834
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CION	CION Investment Corp	−181,542	44,807	$306,479
FSK	FS KKR Capital Corp	−152,172	1,396,710	$14,218,507
SAN	Banco Santander, S.A.	−121,566	41,420	$467,217
SLV	iShares Silver Trust	−120,231	283,261	$19,301,404
PKST	Peakstone Realty Trust	−87,958	21,490	$448,926
SOFI	SoFi Technologies, Inc.	−73,208	93,658	$1,487,289
JQC	Nuveen Credit Strategies Income Fund	−60,046	301,809	$1,469,809
FBRT	Franklin BSP Realty Trust, Inc.	−55,580	132,976	$1,128,966
TRIN	Trinity Capital Inc.	−47,670	77,026	$1,133,052
REAL	TheRealReal, Inc.	−44,237	97,500	$885,300
IAU	Ishares Gold Trust	−38,712	125,483	$11,062,581
USA	Liberty All Star Equity Fund	−32,680	445,126	$2,470,449
WBD	Warner Bros. Discovery, Inc.	−29,795	20,363	$559,167
OPEN	Opendoor Technologies Inc.	−26,523	103,761	$485,601
ETHA	iShares Ethereum Trust ETF	−25,053	11,453	$181,300
EPD	Enterprise Products Partners L.P.	−23,923	168,864	$6,389,813
NVDA	Nvidia Corp	−23,917	1,690,306	$294,789,366
PLTR	Palantir Technologies Inc.	−22,828	299,614	$43,827,535
HOOD	Robinhood Markets, Inc.	−22,116	9,814	$680,110
AVGO	Broadcom Inc.	−21,416	310,121	$95,985,550
PSLV	Sprott Physical Silver Trust	−21,187	42,715	$1,041,818
DOC	Healthpeak Properties, Inc.	−20,515	157,837	$2,593,261
FCX	Freeport-Mcmoran Inc	−18,863	115,004	$6,759,935
ARCC	Ares Capital Corp	−17,920	273,308	$4,925,010
AFRM	Affirm Holdings, Inc.	−16,240	16,512	$756,579
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
FET	Forum Energy Technologies, Inc.	30,451	$1,786,255
CMRE	Costamare Inc.	95,579	$1,615,285
CALM	Cal-Maine Foods Inc	18,481	$1,462,771
OTF	Blue Owl Technology Finance Corp.	90,300	$1,118,817
WY	Weyerhaeuser Co	37,568	$917,786
BHP	BHP Group Ltd	12,467	$906,849
AAOI	Applied Optoelectronics, Inc.	9,973	$843,616
FTI	TechnipFMC plc	12,070	$834,399
PEGA	Pegasystems Inc	19,313	$821,961
SFNC	Simmons First National Corp	36,998	$719,611
NTRS	Northern Trust Corp	5,053	$705,247
AEIS	Advanced Energy Industries Inc	2,151	$694,149
AA	Alcoa Corp	9,285	$615,874
PSIX	Power Solutions International, Inc.	8,773	$534,100
RLTY	Cohen & Steers Real Estate Opportunities & Income Fund	36,191	$526,217
AZN	Astrazeneca PLC	2,668	$526,182
CE	Celanese Corp	7,660	$503,798
JBL	Jabil Inc	1,871	$496,993
CENX	Century Aluminum Co	8,350	$490,061
ACM	Aecom	5,575	$472,871
SQM	Chemical & Mining Co Of Chile Inc	5,835	$472,284
AXTI	Axt Inc	8,000	$455,840
SIMO	Silicon Motion Technology CORP	4,035	$453,090
PTEN	Patterson Uti Energy Inc	37,657	$407,825
CSWC	Capital Southwest Corp	18,416	$407,361
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
AGNC	AGNC Investment Corp.	892,471	$9,567,289
ECC	Eagle Point Credit Co	314,636	$1,812,303
PAAS	Pan American Silver Corp	22,141	$1,147,125
TPC	Tutor Perini Corp	16,061	$1,076,408
WPC	W. P. Carey Inc.	16,161	$1,040,121
TXRH	Texas Roadhouse, Inc.	6,148	$1,020,568
DAVE	Dave Inc./DE	4,355	$964,240
ETH	Grayscale Ethereum Staking Mini ETF	27,576	$773,782
INSM	INSMED Inc	4,113	$715,826
THC	Tenet Healthcare Corp	3,571	$709,629
AU	AngloGold Ashanti PLC	7,212	$615,039
PLTM	GraniteShares Platinum Trust	30,523	$602,218
NRIM	Northrim Bancorp Inc	22,575	$600,720
SIVR	abrdn Silver ETF Trust	8,308	$561,953
PALL	abrdn Palladium ETF Trust	3,639	$529,037
MC	Moelis & Co	7,461	$512,869
PRIM	Primoris Services Corp	3,850	$477,939
EBAY	Ebay Inc	5,163	$449,697
TREE	LendingTree, Inc.	7,970	$423,127
PAYC	Paycom Software, Inc.	2,405	$383,260
WDAY	Workday, Inc.	1,767	$379,516
EHC	Encompass Health Corp	3,544	$376,160
GXRP	Grayscale XRP Trust ETF	10,000	$355,000
EXAS	EXACT SCIENCES CORP	3,465	$351,905
EL	Estee Lauder Companies Inc	3,222	$337,407
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

681 positions · $2,202,988,193 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 681 positions by value · page 1 of 14

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BYND	Beyond Meat, Inc. Consumer Defensive	Added	23,223	+1,400	$16,302	−8.9%	0.00%
XTIA	XTI Aerospace, Inc. Industrials	Held	10,000	0	$20,700	+66.9%	0.00%
NNOX	Nano-X Imaging Ltd. Healthcare	Held	11,370	0	$25,809	−18.9%	0.00%
PLTK	Playtika Holding Corp. Communication Services	NEW	10,000	NEW	$27,800	NEW	0.00%
MNKD	Mannkind Corp Healthcare	Held	12,720	0	$31,164	−56.8%	0.00%
EDIT	Editas Medicine, Inc. Healthcare	Added	20,410	+5,000	$50,412	+59.6%	0.00%
PLUG	Plug Power Inc Industrials	Held	23,689	0	$53,537	+14.7%	0.00%
DVLT	Datavault AI Inc. Technology	Held	99,000	0	$61,380	−4.6%	0.00%
NIO	NIO Inc. Consumer Cyclical	Reduced	10,374	-2,500	$62,555	−4.7%	0.00%
TMC	TMC the metals Co Inc. Basic Materials	Added	13,788	+2,050	$64,389	−11.1%	0.00%
AQST	Aquestive Therapeutics, Inc. Healthcare	Reduced	15,750	-5,700	$65,362	−52.8%	0.00%
LAC	Lithium Americas Corp. Basic Materials	Added	16,553	+1,895	$65,384	+2.3%	0.00%
ASG	Liberty All Star Growth Fund Inc. Financial Services	Reduced	13,893	-254	$65,991	−12.0%	0.00%
ACP	abrdn Income Credit Strategies Fund Financial Services	Reduced	13,859	-3,033	$70,680	−22.7%	0.00%
EDF	Virtus Stone Harbor Emerging Markets Income Fund Financial Services	Reduced	14,900	-3,000	$71,222	−19.9%	0.00%
MRCC	MONROE CAPITAL Corp Financial Services	Reduced	15,869	-8,550	$72,997	−53.1%	0.00%
QUBT	Quantum Computing Inc. Technology	NEW	11,389	NEW	$78,014	NEW	0.00%
ACHR	Archer Aviation Inc. Industrials	Added	15,610	+700	$80,703	−28.0%	0.00%
ABTC	American Bitcoin Corp. Financial Services	NEW	100,700	NEW	$93,046	NEW	0.00%
ONDS	Ondas Inc. Technology	NEW	10,735	NEW	$97,044	NEW	0.00%
SLS	SELLAS Life Sciences Group, Inc. Healthcare	Held	23,250	0	$98,347	+12.2%	0.00%
NMZ	Nuveen Municipal High Income Opportunity Fund Financial Services	Added	10,063	+63	$104,453	+2.5%	0.00%
FT	Franklin Universal Trust Financial Services	Reduced	13,362	-5,209	$107,029	−28.0%	0.00%
HIMX	Himax Technologies, Inc. Technology	Held	14,500	0	$114,115	−3.9%	0.01%
CHY	Calamos Convertible & High Income Fund Financial Services	Held	10,767	0	$117,252	−3.7%	0.01%
NWL	Newell Brands Inc. Consumer Defensive	Added	34,650	+1,350	$118,849	−4.1%	0.01%
NKX	Nuveen California Amt-Free Quality Municipal Income Fund Financial Services	Held	10,000	0	$119,000	−4.3%	0.01%
EOSE	Eos Energy Enterprises, Inc. Industrials	Added	24,206	+2,546	$120,061	−51.6%	0.01%
CMPX	Compass Therapeutics, Inc. Healthcare	Held	22,779	0	$120,500	−1.5%	0.01%
MPT	Medical Properties Trust Inc Real Estate	Added	26,170	+2,791	$121,167	+3.7%	0.01%
ARI	Apollo Commercial Real Estate Finance, Inc. Real Estate	Reduced	11,650	-400	$123,024	+5.5%	0.01%
VCV	Invesco California Value Municipal Income Trust Financial Services	NEW	11,784	NEW	$123,024	NEW	0.01%
CERT	Certara, Inc. Healthcare	NEW	21,846	NEW	$124,522	NEW	0.01%
SGHC	Super Group (SGHC) Ltd Consumer Cyclical	NEW	11,768	NEW	$127,094	NEW	0.01%
SBET	Sharplink, Inc. Financial Services	Reduced	19,731	-6,584	$127,264	−45.9%	0.01%
PATH	UiPath, Inc. Technology	NEW	11,474	NEW	$127,361	NEW	0.01%
MHD	Blackrock Muniholdings Fund, Inc. Financial Services	NEW	11,427	NEW	$128,896	NEW	0.01%
NVTS	Navitas Semiconductor Corp Technology	NEW	14,787	NEW	$129,681	NEW	0.01%
FVRR	Fiverr International Ltd. Communication Services	NEW	13,325	NEW	$133,516	NEW	0.01%
TSSI	TSS, Inc. Technology	NEW	10,300	NEW	$134,003	NEW	0.01%
CRGY	Crescent Energy Co Energy	NEW	10,200	NEW	$137,700	NEW	0.01%
QS	QuantumScape Corp Consumer Cyclical	Reduced	21,925	-1,775	$139,881	−43.4%	0.01%
EFR	Eaton Vance Senior Floating-Rate Trust Financial Services	Reduced	13,427	-354	$141,520	−7.8%	0.01%
SOUN	Soundhound Ai, Inc. Technology	Added	23,293	+5,680	$160,022	−8.9%	0.01%
SPXX	Nuveen S&P 500 Dynamic Overwrite Fund Financial Services	NEW	10,116	NEW	$162,564	NEW	0.01%
HFRO	Highland Opportunities & Income Fund Financial Services	Added	28,630	+272	$163,477	−3.6%	0.01%
TDAY	USA TODAY Co., Inc. Communication Services	Reduced	23,500	-10,000	$165,675	−4.0%	0.01%
MSD	Morgan Stanley Emerging Markets Debt Fund Inc Financial Services	Added	23,624	+11,221	$165,840	+80.9%	0.01%
TCPC	BlackRock TCP Capital Corp. Financial Services	Held	47,658	0	$172,045	−34.0%	0.01%
PHK	Pimco High Income Fund Financial Services	Reduced	37,442	-3,000	$173,356	−11.8%	0.01%