Information Required of Brokers and Dealers (Form X-17A-5)

Report for the Period Beginning	01-01-2025
and Ending	12-31-2025
Type of Registrant	Broker-dealer
	OTC derivatives dealer

Material Weakness
Does this submission include an accountant's report covering the compliance report that indentifies one or more material weaknesses?	Yes No

Name of Broker-dealer

STEPHENS INC.

Address of Principal Place of Business (Do not use P.O. Box No.)

Address 1	111 CENTER STREET
City	LITTLE ROCK
State/Country	ARKANSAS
Mailing Zip/ Portal Code	72201-3507

Name and Telephone Number of Person to Contact in Regard to this Report

Name	Zoe Ann Hines
Telephone Number	501-377-2166

Independent Public Accountant

Name - if individual, state last, first, and middle name	Deloitte & Touche LLP
Address 1	100 South 4th Street
Address 2	Suite 300
City	St. Louis
State/Country	MISSOURI
Mailing Zip/ Postal Code	63102
Check One	Certified Public Accountant Certified Public Accountant not resident in United States or any of its possessions

Oath or Affirmation

I, Zoe Ann Hines, swear (or affirm) that, to the best of my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of STEPHENS INC., as of 02-27-2026, are true and correct. I further swear (or affirm) that neither the company nor any partner, proprietor, principal officer or director has any proprietary interest in any account classified solely as that of a customer, except as follows:

Signature	Zoe Ann Hines
Title	EVP

Notary Public

Checking this box acknowledges that this oath or affirmation has been notarized.