§ 13F · FUND PROFILE
Rafferty Asset Management, LLC.
Leveraged/inverse ETFs, momentum products
AUM · $30831.2T (13F)Positions · 1104Turnover · 100% · Q4Filed · Feb 13, 2026
CONCENTRATION
37%
Top 10 holdings
NEW BUYS
+80
+$76.1T deployed
EXITS
0
No exits
SECTOR SHIFT
BANKING → SEMICONDUCTORS
-0pp · +3pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 13, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | TLT | ISHARES TR | 30.40M | $2649.8T | 9.2% | −17% |
| 2 | NVDA | NVIDIA CORPORATION | 8.72M | $1626.4T | 5.6% | +3% |
| 3 | IWM | ISHARES TR | 4.96M | $1221.4T | 4.2% | −24% |
| 4 | AVGO | BROADCOM INC | 2.65M | $917.1T | 3.2% | −11% |
| 5 | AMD | ADVANCED MICRO DEVICES INC | 3.73M | $799.7T | 2.8% | −15% |
| 6 | MU | MICRON TECHNOLOGY INC | 2.71M | $772.9T | 2.7% | −14% |
| 7 | AAPL | APPLE INC | 2.74M | $744.3T | 2.6% | −4% |
| 8 | MSFT | MICROSOFT CORP | 1.42M | $686.5T | 2.4% | +1% |
| 9 | TSLA | TESLA INC | 1.37M | $614.9T | 2.1% | −63% |
| 10 | GDX | VANECK ETF TRUST | 7.05M | $605.0T | 2.1% | +8% |
§ 02 · SECTOR ALLOCATION
Where the money is
Semiconductors37.6% (+3pp)
Other19.9% (+1pp)
Technology9.7% (±0)
Financial Services4.0% (±0)
Banking3.7% (±0)
Media2.9%
§ 03 · THE RAFFERTY SIGNAL
AC read
Rafferty Asset Management, LLC is a Growth / Momentum fund managing $30831226.5 trillion in assets. The fund runs a massive portfolio of 1,104 positions, broad diversification across holdings, with the top 10 accounting for 37%. Trading activity is aggressive at 100% quarterly turnover, with 80 new positions and 0 exits last quarter. Top sector allocations: Semiconductors (38%), Other (20%), Technology (10%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+80 buys · −0 exits · 1052 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed