Institutional Manager · CIK 0000096223

Jefferies Financial Group Inc.

NEW YORK, NY · File #028-11122

Latest AUM

$19.57B

Positions

1,824

Top-10 Concentration

55.2%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
EXITED	VANGUARD WORLD FD	92204A702	-2,250,000	-$1.68B	$0
REDUCE	SPDR GOLD TR	GLD	-2,538,700	-$1.01B	+$162.8M
REDUCE	SPDR S&P 500 ETF TR	SPY	-1,092,500	-$745.0M	+$45.3M
EXITED	BERKLEY W R CORP	084423102	-8,911,719	-$682.8M	$0
ADD	ALPHABET INC	GOOG	+650,000	+$204.0M	+$7.3M
REDUCE	ELI LILLY & CO	LLY	-171,464	-$184.3M	+$72.2M
REDUCE	COSTCO WHSL CORP NEW	22160K105	-207,000	-$178.5M	-$14.9M
ADD	NVIDIA CORPORATION	NVDA	+898,200	+$167.5M	-$12,672
REDUCE	PEPSICO INC	PEP	-953,828	-$136.9M	+$4.0M
REDUCE	CADENCE DESIGN SYSTEM INC	CDNS	-380,731	-$119.0M	-$14.9M

Sector Allocation

Technology

9.8%$1.92B

Healthcare

9.5%$1.86B

Financials

8.5%$1.67B

Consumer Discretionary

4.9%$957.5M

Energy

4.4%$870.1M

Industrials

3.6%$710.0M

Consumer Staples

2.4%$473.1M

Communication Services

2.3%$447.4M

Materials

2.0%$386.3M

Utilities

1.3%$257.6M

Real Estate

0.6%$121.2M

Filing History

Feb 9, 202613F HOLDINGS REPORTQ/E Dec 20251,824 pos · $19.57B
Nov 13, 202513F HOLDINGS REPORTQ/E Sep 20251,424 pos · $21.19B
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 20251,244 pos · $11.90B
May 8, 202513F HOLDINGS REPORTQ/E Mar 20251,561 pos · $11.32B
Feb 27, 202513F HOLDINGS REPORT (Amended)Q/E Dec 20241,551 pos · $16.71B
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20241,552 pos · $16.71B
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20241,398 pos · $13.98B
Aug 13, 202413F HOLDINGS REPORTQ/E Jun 20241,365 pos · $9.41B
May 13, 202413F HOLDINGS REPORTQ/E Mar 20241,551 pos · $10.82B
May 6, 202413F HOLDINGS REPORT (Amended)Q/E Mar 20241,642 pos · $15.33B
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20231,571 pos · $11.12B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	SPDR S&P 500 ETF TR	SPY	1,784,500	$1.22B	12.23%
2	SPDR GOLD TR	GLD	2,198,500	$871.3M	8.75%
3	SPDR S&P 500 ETF TR	SPY	1,168,090	$796.5M	8.00%
4	SPDR GOLD TR	GLD	1,447,100	$573.5M	5.76%
5	ISHARES TR	464287655	1,726,891	$425.1M	4.27%
6	NVIDIA CORPORATION	NVDA	2,073,147	$386.6M	3.89%
7	INVESCO QQQ TR	IVZ	628,367	$386.0M	3.88%
8	IREN LIMITED	IREN	8,012,100	$302.6M	3.04%
9	IREN LIMITED	IREN	7,548,900	$285.1M	2.86%
10	ALPHABET INC	GOOG	781,593	$245.3M	2.46%
11	ALPHABET INC	GOOG	754,000	$236.6M	2.38%
12	AMAZON COM INC	AMZN	934,388	$215.7M	2.17%
13	SPDR SERIES TRUST	78464A870	1,715,089	$209.1M	2.10%
14	NVIDIA CORPORATION	NVDA	1,056,600	$197.1M	1.98%
15	CIDARA THERAPEUTICS INC	171757206	766,520	$169.3M	1.70%
16	INSMED INC	INSM	926,339	$161.2M	1.62%
17	ALPHABET INC	GOOG	468,369	$146.6M	1.47%
18	SELECT SECTOR SPDR TR	81369Y506	3,272,400	$146.3M	1.47%
19	PROCTER AND GAMBLE CO	742718109	997,764	$143.0M	1.44%
20	SPDR GOLD TR	GLD	338,958	$134.3M	1.35%