<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/maifiler" xmlns:com="http://www.sec.gov/edgar/common_ma" xmlns:com1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>MA-I</submissionType>
    <filerInfo>
      <com:filer>
        <com1:filerId>0000094403</com1:filerId>
        <com1:filerCcc>XXXXXXXX</com1:filerCcc>
      </com:filer>
      <com:contact>
        <com1:name>Angela Shepard</com1:name>
        <com1:phoneNumber>314-342-2268</com1:phoneNumber>
      </com:contact>
      <com:contactEmail>sheparda@stifel.com</com:contactEmail>
      <com:notifications>
        <com1:internetNotificationAddress>sheparda@stifel.com</com1:internetNotificationAddress>
        <com1:internetNotificationAddress>WilhelmM@stifel.com</com1:internetNotificationAddress>
      </com:notifications>
    </filerInfo>
  </headerData>
  <formData>
    <isAmendment>N</isAmendment>
    <isIndividual>N</isIndividual>
    <applicantName>
      <com:firstName>Carly</com:firstName>
      <com:middleName>N/A</com:middleName>
      <com:lastName>Walther-Porino</com:lastName>
    </applicantName>
    <applicantCrdNum>8157874</applicantCrdNum>
    <hasMoreThanOneAdvisoryFirms>N</hasMoreThanOneAdvisoryFirms>
    <noOfAdvisoryFirms>1</noOfAdvisoryFirms>
    <municipalAdvisorOffices>
      <municipalAdvisorOffice>
        <municipalFirm>
          <municipalFiler>
            <filerId>0000094403</filerId>
          </municipalFiler>
          <municipalFirmName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</municipalFirmName>
          <municipalDbaName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</municipalDbaName>
          <recentEmploymentCommencedDate>09-03-2025</recentEmploymentCommencedDate>
          <isIndependentRelatioship>N</isIndependentRelatioship>
        </municipalFirm>
        <maRegistration>
          <secRegistration>
            <com:fileNumber>867-01277</com:fileNumber>
          </secRegistration>
        </maRegistration>
        <advisorOffices>
          <advisorOffice>
            <locationInfo>LOCATED</locationInfo>
            <startDate>09-03-2025</startDate>
            <addressInfo>
              <com:address>
                <com1:street1>ONE MONTGOMERY STREET</com1:street1>
                <com1:street2>SUITES 3300, 3500, 3600, &amp; 3700</com1:street2>
                <com1:city>San Francisco</com1:city>
                <com1:stateOrCountry>CA</com1:stateOrCountry>
                <com1:zipCode>94104</com1:zipCode>
              </com:address>
            </addressInfo>
          </advisorOffice>
        </advisorOffices>
      </municipalAdvisorOffice>
    </municipalAdvisorOffices>
    <residentialHistory>


    </residentialHistory>
    <employmentHistory>
      <currentEmployer>
        <startDate>09-2025</startDate>
        <name>Stifel </name>
        <addressInfo>
          <city>San Francisco</city>
          <stateOrCountry>
            <com1:stateOrCountry>CA</com1:stateOrCountry>
          </stateOrCountry>
          <zipCode>94104</zipCode>
        </addressInfo>
        <isRelatedToMunicipalAdvisor>Y</isRelatedToMunicipalAdvisor>
        <isRelatedToInvestment>Y</isRelatedToInvestment>
        <positionDescription>Public Finance Investment Banking Analyst </positionDescription>
      </currentEmployer>
      <priorEmployers>
        <priorEmployer>
          <startDate>09-2021</startDate>
          <endDate>06-2025</endDate>
          <name>Dartmouth College </name>
          <addressInfo>
            <city>Hanover</city>
            <stateOrCountry>
              <com1:stateOrCountry>NH</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>03755</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Full-time college student </positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>01-2025</startDate>
          <endDate>05-2025</endDate>
          <name>Tuck School of Business at Dartmouth </name>
          <addressInfo>
            <city>Hanover</city>
            <stateOrCountry>
              <com1:stateOrCountry>NH</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>03755</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Part-time Undergraduate Research Assistant </positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>01-2025</startDate>
          <endDate>03-2025</endDate>
          <name>Sun Valley Economic Development </name>
          <addressInfo>
            <city>Ketchum</city>
            <stateOrCountry>
              <com1:stateOrCountry>ID</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>83340</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Remote Data Analyst </positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>08-2023</startDate>
          <endDate>01-2025</endDate>
          <name>Dartmouth College</name>
          <addressInfo>
            <city>Hanover</city>
            <stateOrCountry>
              <com1:stateOrCountry>NH</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>03755</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Student</positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>04-2023</startDate>
          <endDate>08-2023</endDate>
          <name>Christensen Global </name>
          <addressInfo>
            <city>Ketchum</city>
            <stateOrCountry>
              <com1:stateOrCountry>ID</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>83340</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Sustainability Consultant intern during off-term from college </positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>01-2022</startDate>
          <endDate>07-2023</endDate>
          <name>Dartmouth College</name>
          <addressInfo>
            <city>Hanover</city>
            <stateOrCountry>
              <com1:stateOrCountry>NH</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>03755</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Collis Cafe</positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>09-2020</startDate>
          <endDate>01-2022</endDate>
          <name>Lululemon</name>
          <addressInfo>
            <city>Ketchum</city>
            <stateOrCountry>
              <com1:stateOrCountry>ID</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>83340</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Retail Educator </positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>06-2020</startDate>
          <endDate>08-2020</endDate>
          <name>Seeking employment</name>
          <addressInfo>
            <city>Ketchum</city>
            <stateOrCountry>
              <com1:stateOrCountry>ID</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>83340</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>83340</positionDescription>
        </priorEmployer>
        <priorEmployer>
          <startDate>08-2016</startDate>
          <endDate>05-2020</endDate>
          <name>Sun Valley Community School </name>
          <addressInfo>
            <city>Sun Valley</city>
            <stateOrCountry>
              <com1:stateOrCountry>ID</com1:stateOrCountry>
            </stateOrCountry>
            <zipCode>83353</zipCode>
          </addressInfo>
          <isRelatedToMunicipalAdvisor>N</isRelatedToMunicipalAdvisor>
          <isRelatedToInvestment>N</isRelatedToInvestment>
          <positionDescription>Full-Time High School Student </positionDescription>
        </priorEmployer>
      </priorEmployers>
    </employmentHistory>
    <isEngagedInOtherBusiness>N</isEngagedInOtherBusiness>
    <disclosureQuestions>
      <criminalDisclosure>
        <criminalDisclosureCommonQuestion>
          <com:isConvictedOfFelony>N</com:isConvictedOfFelony>
          <com:isChargedWithFelony>N</com:isChargedWithFelony>
          <com:isOrgConvictedOfFelony>N</com:isOrgConvictedOfFelony>
          <com:isOrgChargedWithFelony>N</com:isOrgChargedWithFelony>
        </criminalDisclosureCommonQuestion>
        <isConvictedOfMisdemeanor>N</isConvictedOfMisdemeanor>
        <isChargedWithMisdemeanor>N</isChargedWithMisdemeanor>
        <isOrgConvictedOfMisdemeanor>N</isOrgConvictedOfMisdemeanor>
        <isOrgChargedWithMisdemeanor>N</isOrgChargedWithMisdemeanor>
      </criminalDisclosure>
      <regulatoryDisclosure>
        <regulatoryDisclosureCommonQuestion>
          <com:isMadeFalseStatement>N</com:isMadeFalseStatement>
          <com:isViolatedRegulation>N</com:isViolatedRegulation>
          <com:isCauseOfDenial>N</com:isCauseOfDenial>
          <com:isOrderAgainst>N</com:isOrderAgainst>
          <com:isImposedPenalty>N</com:isImposedPenalty>
          <com:isUnEthical>N</com:isUnEthical>
          <com:isFoundInViolationOfRegulation>N</com:isFoundInViolationOfRegulation>
          <com:isFoundInCauseOfDenial>N</com:isFoundInCauseOfDenial>
          <com:isOrderAgainstActivity>N</com:isOrderAgainstActivity>
          <com:isDeniedLicense>N</com:isDeniedLicense>
          <com:isFoundMadeFalseStatement>N</com:isFoundMadeFalseStatement>
          <com:isFoundInViolationOfRules>N</com:isFoundInViolationOfRules>
          <com:isFoundInCauseOfSuspension>N</com:isFoundInCauseOfSuspension>
          <com:isDiscipliend>N</com:isDiscipliend>
          <com:isAuthorizedToActAttorney>N</com:isAuthorizedToActAttorney>
          <com:isRegulatoryComplaint>N</com:isRegulatoryComplaint>
        </regulatoryDisclosureCommonQuestion>
        <isViolatedSecurityAct>N</isViolatedSecurityAct>
        <isWillFullyAided>N</isWillFullyAided>
        <isFailedToSupervise>N</isFailedToSupervise>
        <isFoundWillFullyAided>N</isFoundWillFullyAided>
        <isAssociationBared>N</isAssociationBared>
        <isFinalOrder>N</isFinalOrder>
        <isWillFullyViolatedSecurityAct>N</isWillFullyViolatedSecurityAct>
        <isFailedResonably>N</isFailedResonably>
      </regulatoryDisclosure>
      <investigationDisclosure>
        <isInvestigated>N</isInvestigated>
      </investigationDisclosure>
      <civilDisclosure>
        <com:isEnjoined>N</com:isEnjoined>
        <com:isFoundInViolationOfRegulation>N</com:isFoundInViolationOfRegulation>
        <com:isDismissed>N</com:isDismissed>
        <com:isNamedInCivilProceeding>N</com:isNamedInCivilProceeding>
      </civilDisclosure>
      <complaintDisclosure>
        <isComplaintPending>N</isComplaintPending>
        <isComplaintSettled>N</isComplaintSettled>
        <isFraudCasePending>N</isFraudCasePending>
        <isFraudCaseResultedAward>N</isFraudCaseResultedAward>
        <isFraudCaseSettled>N</isFraudCaseSettled>
      </complaintDisclosure>
      <terminationDisclosure>
        <isViloatedIndustryStandard>N</isViloatedIndustryStandard>
        <isInvolvedInFraud>N</isInvolvedInFraud>
        <isFailedToSupervise>N</isFailedToSupervise>
      </terminationDisclosure>
      <financialDisclosure>
        <isCompromised>N</isCompromised>
        <isBankruptcyPetition>N</isBankruptcyPetition>
        <isTrusteeApointed>N</isTrusteeApointed>
        <isBondRevoked>N</isBondRevoked>
      </financialDisclosure>
      <judgmentLienDisclosure>
        <isLienAgainst>N</isLienAgainst>
      </judgmentLienDisclosure>
    </disclosureQuestions>
    <signatureInfo>
      <com:signature>
        <com:dateSigned>04-22-2026</com:dateSigned>
        <com:signature>Angela Shepard</com:signature>
        <com:title>Compliance Analyst II</com:title>
      </com:signature>
    </signatureInfo>
  </formData>
</edgarSubmission>