RATIONAL ADVISORS, INC. Q2 2025 Filing

Filed July 31, 2025

Portfolio Value

$1.0T

Holdings

191

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (191 positions)

#StockSharesValue% PortfolioType
1
BNDVANGUARD BD INDEX FDS
1,032,403$76.0B7.53%
2
SPABSPDR SERIES TRUST
2,968,636$76.0B7.53%
3
AGGISHARES TR
765,073$75.9B7.52%
4
MLPXGLOBAL X FDS
817,266$51.2B5.07%
5
QQQMINVESCO EXCH TRADED FD TR II
225,321$51.2B5.07%
6
VIGVANGUARD SPECIALIZED FUNDS
229,140$46.9B4.65%
7
IVVISHARES TR
68,575$42.6B4.22%
8
XLUSELECT SECTOR SPDR TR
510,801$41.7B4.13%
9
NTSXWISDOMTREE TR
779,076$39.0B3.86%
10
SCHHSCHWAB STRATEGIC TR
1,550,514$32.8B3.25%
11
JEPIJ P MORGAN EXCHANGE TRADED F
514,292$29.2B2.90%
12
SPHYSPDR SERIES TRUST
1,054,044$25.1B2.49%
13
AQLTISHARES TR
281,232$23.5B2.33%
14
VOOVANGUARD INDEX FDS
39,499$22.4B2.22%
15
PFFDGLOBAL X FDS
1,102,418$20.8B2.06%
16
SPYMSPDR SERIES TRUST
231,686$16.8B1.67%
17
DFCFDIMENSIONAL ETF TRUST
395,903$16.7B1.66%
18
SCHISCHWAB STRATEGIC TR
551,209$12.5B1.24%
19
UBER 0.875 12/01/28 2028UBER TECHNOLOGIES INC
7,339,000$10.5B1.04%
20
METAMETA PLATFORMS INC
13,609$10.0B1.00%
21
BAC 7.25 PERP LBANK AMERICA CORP
8,048$9.8B0.97%
22
WFC 7.5 PERP LWELLS FARGO CO NEW
8,200$9.6B0.95%
23
BKNGBOOKING HOLDINGS INC
1,600$9.3B0.92%
249,150,000$9.0B0.89%
25
APO 6.75 07/31/26APOLLO GLOBAL MGMT INC
115,800$8.7B0.86%
26
MBBISHARES TR
89,110$8.4B0.83%
27152,200$8.2B0.81%
28
PPL 2.875 03/15/28PPL CAP FDG INC
7,260,000$7.8B0.78%
29
DKNG 0 03/15/28DRAFTKINGS INC NEW
8,650,000$7.7B0.77%
30
FOUR 0.5 08/01/27SHIFT4 PMTS INC
7,006,000$7.5B0.74%
31
LNT 3.875 03/15/26ALLIANT ENERGY CORP
6,930,000$7.1B0.71%
327,402,000$7.1B0.70%
33
AWK 3.625 06/15/26AMERICAN WTR CAP CORP
7,020,000$7.0B0.70%
348,040,000$6.9B0.68%
35
MSFTMICROSOFT CORP
12,909$6.4B0.64%
36
AMZNAMAZON COM INC
29,247$6.4B0.64%
37
ARES 6.75 10/01/27 BARES MANAGEMENT CORPORATION
116,100$6.2B0.61%
38
VTR 3.75 06/01/26VENTAS RLTY LTD PARTNERSHIP
5,030,000$6.0B0.60%
39
GPN 1.5 03/01/31GLOBAL PMTS INC
6,667,000$6.0B0.59%
40
CYBRCYBERARK SOFTWARE LTD
14,000$5.7B0.56%
41
NOWSERVICENOW INC
5,072$5.2B0.52%
42
WMTWALMART INC
44,689$4.4B0.43%
43
T7DTRANSDIGM GROUP INC
2,836$4.3B0.43%
44
SPYSPDR S&P 500 ETF TR
6,889$4.3B0.42%
45
BABINVESCO EXCH TRADED FD TR II
157,852$4.2B0.41%
46
COSTCOSTCO WHSL CORP NEW
4,223$4.2B0.41%
47
TYL 0.25 03/15/26TYLER TEX INDPT SCH DIST
3,320,000$4.1B0.40%
48
NFLXNETFLIX INC
3,013$4.0B0.40%
49
AAPLAPPLE INC
19,373$4.0B0.39%
50
APOAPOLLO GLOBAL MGMT INC
27,244$3.9B0.38%
51
SPOTSPOTIFY TECHNOLOGY S A
4,925$3.8B0.37%
52
COIN 0.25 04/01/30COINBASE GLOBAL INC
2,820,000$3.7B0.36%
53
KKRKKR & CO INC
27,150$3.6B0.36%
54
VEEVVEEVA SYS INC
12,500$3.6B0.36%
55
LYVLIVE NATION ENTERTAINMENT IN
23,522$3.6B0.35%
56
TJXTJX COS INC NEW
27,500$3.4B0.34%
57
BXBLACKSTONE INC
22,324$3.3B0.33%
58
NEE 7.234 11/01/27NEXTERA ENERGY INC
74,400$3.3B0.33%
59
PGRPROGRESSIVE CORP
12,000$3.2B0.32%
60
KOCOCA COLA CO
43,578$3.1B0.31%
61
VVISA INC
8,508$3.0B0.30%
62
MLB1MERCADOLIBRE INC
1,100$2.9B0.28%
63
UBERUBER TECHNOLOGIES INC
29,540$2.8B0.27%
64
AMTAMERICAN TOWER CORP NEW
11,650$2.6B0.26%
65
LLYELI LILLY & CO
2,784$2.2B0.22%
66
TWTRADEWEB MKTS INC
14,600$2.1B0.21%
67
TMUST-MOBILE US INC
8,824$2.1B0.21%
68
F 0 03/15/26FORD MTR CO
2,110,000$2.1B0.21%
69
PRO 2.25 09/15/27PROS HOLDINGS INC
2,211,000$2.1B0.21%
70
MTH 1.75 05/15/28MERITAGE HOMES CORP
2,112,000$2.0B0.20%
71
NVDANVIDIA CORPORATION
12,496$2.0B0.20%
72
SHYISHARES TR
22,284$1.8B0.18%
73
ORLYOREILLY AUTOMOTIVE INC
19,125$1.7B0.17%
74
BNBROOKFIELD CORP
25,500$1.6B0.16%
75
GOOGLALPHABET INC
8,327$1.5B0.15%
76
AVGOBROADCOM INC
4,691$1.3B0.13%
77
XLFISELECT SECTOR SPDR TR
13,987$1.1B0.11%
78
XLFSELECT SECTOR SPDR TR
21,069$1.1B0.11%
79
JPMJPMORGAN CHASE & CO.
3,658$1.1B0.11%
80
XOMEXXON MOBIL CORP
9,734$1.0B0.10%
81
PLTRPALANTIR TECHNOLOGIES INC
7,102$968.1M0.10%
82
XLISELECT SECTOR SPDR TR
6,507$959.9M0.10%
83
HBC2HSBC HLDGS PLC
15,723$955.8M0.09%
84
TSLATESLA INC
2,964$941.5M0.09%
85
HDHOME DEPOT INC
2,477$908.2M0.09%
86
CATCATERPILLAR INC
2,233$866.9M0.09%
87
NEENEXTERA ENERGY INC
11,573$803.4M0.08%
88
BRK-BBERKSHIRE HATHAWAY INC DEL
1$728.8M0.07%
89
BRK/BBERKSHIRE HATHAWAY INC DEL
1,475$716.5M0.07%
90
XLCSELECT SECTOR SPDR TR
6,441$699.0M0.07%
91
IBMINTERNATIONAL BUSINESS MACHS
2,370$698.6M0.07%
92
ITA*ISHARES TR
3,676$693.4M0.07%
93
XLRESELECT SECTOR SPDR TR
16,714$692.3M0.07%
94
XLYSELECT SECTOR SPDR TR
3,175$690.0M0.07%
95
GOOGALPHABET INC
3,564$632.2M0.06%
96
QCOMQUALCOMM INC
3,732$594.4M0.06%
97
PYPLPAYPAL HLDGS INC
7,453$553.9M0.05%
98
GLWCORNING INC
10,518$553.1M0.05%
99
SLBSCHLUMBERGER LTD
16,081$543.5M0.05%
100
IEFISHARES TR
5,040$482.7M0.05%
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