RJF 13F Filing: 15,750 Holdings Totaling $290.5 Billion

Rhea-AI Filing Summary

Raymond James Financial Inc. filed a Form 13F-HR reporting its U.S. Section 13(f) equity holdings as of 06-30-2025. The report lists 15,750 information table entries with a total market value of $290,499,498,174. The filing identifies 13 other included managers (subsidiaries and related advisers) by name and Form 13F file number. The signatory is Rachel Jacobson, Manager, Operations, signing on behalf of the reporting manager. The filing notes a change in reporting approach beginning with the quarter ending December 31, 2024: the Reporting Person now uses Form 13F-HR to report positions held by subsidiaries, while subsidiaries with >$100 million under management will file Form 13F-NT and designate the Reporting Person as Other Manager Reporting.

Positive

• Comprehensive aggregate disclosure showing total market value of $290,499,498,174
• Large number of holdings reported (15,750 entries) indicating thorough reporting coverage
• Clear list of 13 Other Included Managers identifying affiliated filers and file numbers

Negative

• Filing text provided does not include position-level details (individual securities, share counts, or issuer names are not present in the supplied content)
• Centralized reporting approach (Form 13F-HR for parent with some subsidiaries filing 13F-NT) may reduce granularity of subsidiary-level disclosures

Insights

Financial Analyst

TL;DR Large, comprehensive 13F shows broad holdings and centralized reporting across Raymond James and affiliates.

The filing documents a substantial aggregate equity portfolio valued at $290.5 billion across 15,750 reported positions, indicating extensive market exposure and diversified holdings managed across multiple Raymond James entities. The list of 13 Other Included Managers clarifies which subsidiaries and affiliated advisers are encompassed. The noted change in reporting practice to centralize reporting under the parent via Form 13F-HR (with some subsidiaries filing 13F-NT when above $100 million) affects transparency of entity-level disclosure but is explicitly described in the filing.

Risk Analyst

TL;DR Centralized 13F filing alters disclosure granularity; aggregate scale is large but no position-level risks disclosed here.

The report provides high-level scale metrics but contains no position-level details in the content provided. While the total reported value and number of entries signal meaningful market footprint, this submission text does not include individual security holdings, sector concentrations, or position sizes needed to assess portfolio risk, concentration, or liquidity exposure. The change in reporting approach should be noted by analysts seeking subsidiary-level transparency.

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL

OMB Number:			3235-0006
Estimated average burden
hours per response:			23.8

Report for the Calendar Year or Quarter Ended: 06-30-2025

Check here if Amendment		Amendment Number:
This Amendment (Check only one.):		is a restatement.
		adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:	RAYMOND JAMES FINANCIAL INC
Address:	880 CARILLON PKWY
	ST. PETERSBURG, FL 33716
Form 13F File Number:	028-24793
CRD Number (if applicable):
SEC File Number (if applicable):	001-09109

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name:		Rachel Jacobson
Title:		Manager, Operations
Phone:		7275673466
Signature, Place, and Date of Signing:
Rachel Jacobson			Saint Petersburg, FL	08-14-2025
[Signature]			[City, State]	[Date]
Starting with the quarter ending [December 31, 2024], the Reporting Person is filing Form 13F-HR to report the positions in Section 13(f) Securities over which its subsidiaries exercise investment discretion, and the subsidiaries that exercise investment discretion over $100 million in Section 13(f) Securities will file Form 13F-NT and identify the Reporting Person as the Other Manager Reporting for this Manager. Prior to this quarter, certain of the Reporting Person's subsidiaries had filed Form 13F-HR to report the positions in Section 13(f) Securities over which such subsidiary directly or indirectly exercised investment discretion, and certain other subsidiaries filed Form 13F-NT

Report Type (Check only one.):
X	13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
	13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
	13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

Form 13F Summary Page
	Report Summary:
	Number of Other Included Managers:		13
	Form 13F Information Table Entry Total:		15,750
	Form 13F Information Table Value Total:		290,499,498,174
			(round to nearest dollar)

List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]
	No.	Name	Form 13F File No.	CRD No. (if applicable)	SEC File No. (if applicable)	CIK
	1	RAYMOND JAMES & ASSOCIATES	028-04393	000000705	801-69815	0001084208
	2	Raymond James Financial Services Advisors, Inc.	028-13494	000149018	801-10418	0001462284
	3	SCOUT INVESTMENTS, INC.	028-10260	000111787	801-60188	0001161927
	4	ClariVest Asset Management LLC	028-12126			0001388167
	5	EAGLE ASSET MANAGEMENT INC	028-01666			0000790502
	6	CHARTWELL INVESTMENT PARTNERS, LLC	028-16224			0001616525
	7	RAYMOND JAMES TRUST N.A.	028-05081			0001088950
	8	RAYMOND JAMES TRUST CO. OF NH	028-22532			0001927067
	9	Alaska Permanent Fund Corp	028-20231			0001582681
	11	CARILLON TOWER ADVISERS, INC.	028-18365			0001715163
	14	FIRST TRUST ADVISORS LP	028-06487			0001125816
	15	PEAR TREE ADVISORS INC	028-04108			0000919086
	16	TIMOTHY PLAN			811-08228	0000916490

FAQ

What total market value does RJF report on its Form 13F for 06-30-2025?

The filing reports a total Form 13F information table value of $290,499,498,174.

How many holdings entries are included in Raymond James' 13F for the quarter?

The report lists 15,750 Form 13F information table entries.

How many other managers (subsidiaries) are included with Raymond James on this 13F?

The Form 13F Summary identifies 13 Other Included Managers by name and file number.

Who signed the Form 13F on behalf of Raymond James (RJF)?

The report is signed by Rachel Jacobson, Manager, Operations, signing on behalf of the reporting manager.

Did Raymond James change its Form 13F reporting approach?

Yes. Beginning with the quarter ending December 31, 2024, the Reporting Person uses Form 13F-HR to report positions held by subsidiaries, while subsidiaries that exercise discretion over >$100 million in Section 13(f) securities will file Form 13F-NT and identify the Reporting Person as Other Manager Reporting.