Advent Capital Management

Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 11, 2026), Advent Capital Management reported 23 stock positions worth $91.9 million. Its top holding was Advent Convertible Bond ETF (ACVT) at 32.7% of the portfolio, followed by Stmicroelectronics NV-NY SHS (STM, 14.1%) and Corning (GLW, 4.7%). Compared with Q1 2026, it opened 11 new positions, sold out of 16, added to 3 and reduced 7. The biggest buy was a new position in Stmicroelectronics NV-NY SHS (STM) and the biggest sale an exit from General Motors (GM).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001097278
Portfolio Value: $91.9M (Q2 2026)
SEC Filing: 0001140361-26-032210 ↗ filed Aug 11, 2026

Holdings Value

Holdings 23 stocks · $91.9M


ACVT Advent Convertible Bond ETF	32.74%	1,076,400	$30.1M	Reduce -0.7%
STM Stmicroelectronics NV-NY SHS	14.09%	172,862	$12.9M	New
GLW Corning Inc.	4.73%	17,000	$4.3M	Reduce -15.0%
ETN Eaton Corp. PLC	4.64%	10,000	$4.3M	No change
NOW ServiceNow Inc.	3.78%	35,000	$3.5M	No change
SNDK Sandisk Corp.	3.71%	1,500	$3.4M	New
MS Morgan Stanley	3.41%	15,000	$3.1M	Reduce -16.7%
RKT Rocket Cos Inc. Class A	3.26%	190,000	$3.0M	New
CMI Cummins Inc.	3.11%	4,000	$2.9M	New
W Wayfair Inc. Class A	3.02%	30,000	$2.8M	Add +1347.2%
AMZN Amazon.com Inc.	2.85%	11,000	$2.6M	Reduce -31.3%
NVDA Nvidia Corp.	2.83%	13,000	$2.6M	New
CIFR Cipher Digital Inc.	2.67%	100,000	$2.5M	Reduce -33.3%
CCL Carnival Corp. Ltd.	2.64%	85,000	$2.4M	Reduce -32.0%
MTB M & T Bank Corp. filed as M & T BK CORP	2.59%	10,000	$2.4M	Reduce -16.7%
VRT Vertiv Holdings Co. Class A	2.55%	7,000	$2.3M	New
LOW Lowe's Cos Inc.	2.40%	10,000	$2.2M	New
MU Micron Technology Inc.	2.26%	1,800	$2.1M	New
AKAM Akamai Technologies Inc.	0.96%	7,450	$881K	New
MDA Mda Space Ltd.	0.90%	20,000	$824K	New
HZO Marinemax Inc.	0.41%	10,400	$381K	New
QGEN Qiagen N.V.	0.28%	6,491	$254K	Add +66.7%
BBAI Bigbear.ai Holdings Inc.	0.16%	40,000	$147K	Add +100.0%

Options reported separately and not counted above: SPY puts ($28.8M), QQQ puts ($14.7M), BBY calls ($7.6M), SMCI calls ($4.8M), AMZN calls ($3.0M), BKSY puts ($2.8M), HD calls ($2.5M), SOFI calls ($1.3M), HTZ puts ($906K), BTDR calls ($873K), PLUG calls ($813K), WOLF calls ($772K), and 5 more.

Other holdings (196): bonds, preferreds, convertibles and warrants · $4.3B (not counted above)

Security	Class	Shares / Principal	Value	Change
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	146,276	$183.9M	Reduce -1.9%
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	152,080	$176.6M	Add +2.6%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	122,088,000	$146.4M	Add +2.8%
DOORDASH INC (DASH 0 05/15/30)	NOTE 5/1 · principal	141,271,000	$139.3M	New
NEXTERA ENERGY INC (NEE 7.299 06/01/27)	UNIT 06/01/2027	1,953,959	$104.8M	Add +0.9%
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	82,240,000	$92.3M	Add +10.8%
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)	NOTE 2.875% 3/1 · principal	80,083,000	$91.7M	Add +13.7%
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	94,075,000	$85.1M	Reduce -6.2%
ALPHABET INC (GOOGL 6.25 05/15/29 A)	DEP SHS RP1/20 A	1,638,841	$82.7M	New
AKAMAI TECHNOLOGIES INC (AKAM 0.25 05/15/33)	NOTE 0.250% 5/1 · principal	56,426,000	$82.4M	New
KKR & CO INC (KKR 6.25 03/01/28 D)	6.25 CON SER D	2,056,082	$82.0M	Add +0.5%
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	4,513,000	$76.1M	Reduce -18.0%
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	75,871,000	$72.5M	Add +32.5%
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26)	SER A MAND CNV	1,088,860	$66.4M	Reduce -16.5%
SNOWFLAKE INC (SNOW 0 10/01/29)	NOTE 10/0 · principal	36,106,000	$63.9M	Add +15.8%
ALPHABET INC (GOOGL 6.25 05/15/29 B)	DEP SHS RP1/20 B	1,267,980	$63.9M	New
SOUTHERN CO (SO 7.125 12/15/28 A)	UNIT 12/15/2028	1,215,477	$60.8M	Add +8.4%
BOEING CO/THE (BA 6 10/15/27)	DEP CONV PFD A	887,378	$60.2M	Add +2.3%
TETRA TECH INC (TTEK 2.25 08/15/28)	DBCV 2.250% 8/1 · principal	53,812,000	$57.2M	Add +35.1%
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29)	NOTE 1.500% 9/0 · principal	47,419,000	$52.5M	New
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	38,877,000	$51.5M	Add +10.7%
CLOUDFLARE INC (NET 0 06/15/30)	NOTE 6/1 · principal	39,635,000	$50.2M	New
FIRSTENERGY CORP (FE 3.875 01/15/31)	NOTE 3.875% 1/1 · principal	44,372,000	$50.1M	New
MERITAGE HOMES CORP (MTH 1.75 05/15/28)	NOTE 1.750% 5/1 · principal	48,267,000	$50.1M	Reduce -8.7%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26)	NOTE 4.250% 8/1 · principal	40,768,000	$49.8M	Reduce -1.0%
WEC ENERGY GROUP INC (WEC 4.375 06/01/29)	NOTE 4.375% 6/0 · principal	39,229,000	$48.8M	Add +18.8%
ORACLE CORP (ORCL 6.5 01/15/29 D)	6.5 DEP CUM SR D	1,055,583	$47.6M	New
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28)	DEP SHS REPSTG	603,716	$46.5M	Reduce -20.6%
SOUTHERN CO (SO 4.5 06/15/27)	NOTE 4.500% 6/1 · principal	40,642,000	$44.9M	Reduce -5.1%
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	41,593,000	$44.7M	Add +20.0%
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29)	NOTE 3.500% 3/0 · principal	47,021,000	$44.0M	Reduce -13.7%
PG&E CORP (PCG 4.25 12/01/27)	NOTE 4.250%12/0 · principal	42,689,000	$43.8M	Reduce -4.3%
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29)	NOTE 0.750%12/1 · principal	35,372,000	$41.4M	Reduce -46.7%
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)	NOTE 3.250%12/1 · principal	38,888,000	$38.3M	Reduce -0.7%
STRATEGY INC (MSTR 0.875 03/15/31)	NOTE 0.875% 3/1 · principal	38,723,000	$35.8M	Add +33.8%
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B)	6.75 SE B PFD	939,089	$35.6M	Add +0.6%
NCL CORPORATION LTD (NCLH 0.875 04/15/30)	NOTE 0.875% 4/1 · principal	31,489,000	$35.2M	New
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30)	NOTE 0.750% 6/0 · principal	31,723,000	$35.0M	Add +624.8%
ALPHATEC HOLDINGS INC (ATEC 0.75 03/15/30)	NOTE 0.750% 3/1 · principal	35,108,000	$33.7M	New
COINBASE GLOBAL INC (COIN 0.25 04/01/30)	NOTE 0.250% 4/0 · principal	36,881,000	$33.1M	Add +164.9%
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	33,272,000	$33.1M	Add +2.2%
PPL CORPORATION (PPL 7 02/15/29)	UNIT 02/15/2029	669,904	$32.7M	New
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29)	NOTE 1.250%11/0 · principal	32,838,000	$31.7M	Reduce -14.6%
SUNRUN INC (RUN 4 03/01/30)	NOTE 4.000% 3/0 · principal	25,649,000	$30.8M	Add +5.3%
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28)	NOTE 3/1 · principal	31,277,000	$29.1M	Reduce -4.2%
GAMESTOP CORP (GME 0 06/15/32)	NOTE 6/1 · principal	28,165,000	$28.7M	New
SUPER MICRO COMPUTER INC (SMCI 0 06/15/30)	NOTE 6/1 · principal	30,992,000	$27.5M	New
DATADOG INC (DDOG 0 12/01/29)	NOTE 12/0 · principal	18,322,000	$26.1M	Reduce -76.7%
PORCH GROUP INC (PRCH 9 05/15/30)	DEBT 9.000% 5/1 · principal	17,672,000	$25.8M	Add +461.0%
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30)	NOTE 2.875% 1/1 · principal	21,248,000	$25.7M	Reduce -14.6%
CLEANSPARK INC (CLSK 0 06/15/30)	NOTE 6/1 · principal	19,705,000	$25.6M	Reduce -16.3%
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29)	NOTE 0.750% 6/1 · principal	25,331,000	$25.0M	Reduce -16.1%
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	23,815,000	$24.5M	Add +14.6%
GAMESTOP CORP (GME 0 04/01/30)	NOTE 4/0 · principal	23,506,000	$24.0M	New
UBER TECHNOLOGIES INC (UBER 0 05/15/28)	NOTE 5/1 · principal	20,634,000	$23.9M	New
CELCUITY INC (CELC 0.25 08/01/32)	NOTE 0.250% 8/0 · principal	20,700,000	$23.6M	New
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	24,876,000	$23.6M	Add +7.6%
INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30)	DBCV 1.875% 3/1 · principal	22,904,000	$22.4M	New
RUBRIK INC (RBRK 0 06/15/30)	NOTE 6/1 · principal	21,564,000	$22.1M	New
BILL HOLDINGS INC (BILL 0 04/01/30)	NOTE 4/0 · principal	25,221,000	$21.9M	Add +13.3%
QXO INC (QXO 5.5 05/15/28 B)	5.50 DEP PFD	444,547	$21.8M	Add +21.0%
UPSTART HOLDINGS INC (UPST 2 10/01/29)	NOTE 2.000%10/0 · principal	18,825,000	$21.6M	Add +27.0%
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27)	NOTE 2.625%12/1 · principal	14,700,000	$21.4M	Reduce -63.2%
ARROWHEAD RESEARCH CORP (ARWR 0 01/15/32)	NOTE 1/1 · principal	17,840,000	$21.4M	New
ENPHASE ENERGY INC (ENPH 0 03/01/28)	NOTE 3/0 · principal	22,411,000	$20.9M	Reduce -18.4%
PENNYMAC CORP (PMT 8.5 06/01/29)	NOTE 8.500% 6/0 · principal	20,188,000	$20.8M	Add +17.8%
DEXCOM INC (DXCM 0.375 05/15/28)	NOTE 0.375% 5/1 · principal	21,038,000	$19.7M	Reduce -0.3%
ITRON INC (ITRI 1.375 07/15/30)	NOTE 1.375% 7/1 · principal	19,396,000	$19.5M	Reduce -10.5%
SITIME (SITM 0 06/15/31)	NOTE 6/1 · principal	17,209,000	$19.1M	New
STRATEGY INC (MSTR 2.25 06/15/32)	NOTE 2.250% 6/1 · principal	19,210,000	$18.4M	Add +31.6%
MARA HOLDINGS INC (MARA 2.125 09/01/31)	NOTE 2.125% 9/0 · principal	16,348,000	$18.4M	Add +28.8%
FRESHPET INC (FRPT 3 04/01/28)	NOTE 3.000% 4/0 · principal	15,139,000	$17.7M	Add +277.9%
NUTANIX INC (NTNX 0.5 12/15/29)	NOTE 0.500%12/1 · principal	17,619,000	$17.4M	Add +24.3%
RIOT PLATFORMS INC (RIOT 0.75 01/15/30)	NOTE 0.750% 1/1 · principal	8,481,000	$17.1M	Reduce -58.7%
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29)	NOTE 3.125% 1/1 · principal	9,433,000	$17.0M	Add +11.0%
HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	144,059	$16.8M	Reduce -61.6%
SNAP INC (SNAP 0.5 05/01/30)	NOTE 0.500% 5/0 · principal	20,531,000	$16.8M	Reduce -8.8%
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29)	NOTE 1.125% 2/1 · principal	13,929,000	$16.7M	Reduce -61.1%
MERIT MEDICAL SYSTEMS IN (MMSI 3 02/01/29)	NOTE 3.000% 2/0 · principal	15,250,000	$16.6M	New
BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29)	NOTE 2.250% 2/0 · principal	14,548,000	$16.3M	Reduce -22.9%
ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28)	NOTE 1.000%12/0 · principal	17,389,000	$16.2M	Reduce -20.9%
CYBERARK SOFTWARE LTD (CYBR 0 06/15/30)	NOTE 6/1 · principal	9,309,000	$15.5M	New
HAEMONETICS CORP (HAE 2.5 06/01/29)	NOTE 2.500% 6/0 · principal	15,016,000	$15.3M	Reduce -34.8%
SUPER MICRO COMPUTER INC (SMCI 7 06/01/29)	7 DEP CM SR A WI	295,651	$15.2M	New
EVERGY INC (EVRG 4.5 12/15/27)	NOTE 4.500%12/1 · principal	10,300,000	$14.7M	Add +105.0%
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29)	NOTE 3.625% 4/1 · principal	14,977,000	$14.5M	Add +11.8%
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30)	NOTE 3.125% 9/1 · principal	8,340,000	$14.3M	Reduce -38.7%
UPWORK INC (UPWK 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	14,174,000	$14.1M	No change
SHIFT4 PAYMENTS INC (FOUR 6 05/01/28)	6 SER A CNV PREF	221,869	$13.8M	Reduce -10.3%
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	14,056,000	$13.7M	Reduce -3.3%
VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30)	NOTE 2.250% 9/1 · principal	6,808,000	$13.6M	Reduce -69.1%
SUPER MICRO COMPUTER INC (SMCI 2.25 07/15/28)	NOTE 2.250% 7/1 · principal	13,592,000	$13.5M	New
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28)	NOTE 1.000% 8/1 · principal	9,129,000	$13.4M	Add +16.0%
MKS INC (MKSI 1.25 06/01/30)	NOTE 1.250% 6/0 · principal	4,427,000	$13.1M	Reduce -53.2%
FIVE9 INC (FIVN 1 03/15/29)	NOTE 1.000% 3/1 · principal	14,598,000	$13.0M	Add +1.1%
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	13,315,000	$12.9M	Reduce -4.4%
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27)	NOTE 0.500% 8/0 · principal	13,418,000	$12.8M	Add +437.1%
UGI CORP (UGI 5 06/01/28)	NOTE 5.000% 6/0 · principal	9,544,000	$12.8M	Add +13.6%
BRIDGEBIO PHARMA INC (BBIO 1.75 03/01/31)	NOTE 1.750% 3/0 · principal	7,501,000	$12.7M	New
POST HOLDINGS INC (POST 2.5 08/15/27)	NOTE 2.500% 8/1 · principal	11,754,000	$12.3M	New
PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30)	NOTE 3.500% 3/0 · principal	12,569,000	$12.2M	Reduce -29.3%
ARRAY TECHNOLOGIES INC	NOTE 2.875% 7/0 · principal	9,428,000	$11.8M	New
PG&E CORP (PCG 6 12/01/27 A)	PFD CONV SER A	259,203	$10.8M	Reduce -44.9%
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	187,896	$10.4M	Add +131.1%
ON SEMICONDUCTOR CORP (ON 0 05/01/27)	NOTE 5/0 · principal	5,590,000	$10.2M	Add +67.2%
NUVATION BIO INC (NUVB 0.75 07/01/32)	NOTE 0.750% 7/0 · principal	9,499,000	$9.9M	New
CLOUDFLARE INC (NET 0 08/15/26)	NOTE 8/1 · principal	7,482,000	$9.6M	Add +29.5%
RIVIAN AUTO INC (RIVN 4.625 03/15/29)	NOTE 4.625% 3/1 · principal	7,984,000	$9.6M	Add +45.8%
SHAKE SHACK INC (SHAK 0 03/01/28)	NOTE 3/0 · principal	9,689,000	$9.0M	Add +33.2%
INTERDIGITAL INC (IDCC 3.5 06/01/27)	NOTE 3.500% 6/0 · principal	2,455,000	$9.0M	New
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31)	NOTE 0.500% 6/0 · principal	7,387,000	$8.7M	Reduce -0.0%
CRACKER BARREL OLD COUNT (CBRL 1.75 09/15/30)	NOTE 1.750% 9/1 · principal	8,370,000	$8.6M	New
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN)	MTNF 0.600% 5/2 · principal	6,800,000	$8.6M	No change
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	7,425,000	$8.4M	Add +3.7%
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31)	NOTE 0.250%10/0 · principal	4,930,000	$8.0M	Reduce -60.5%
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28)	NOTE 1.750% 6/1 · principal	5,146,000	$8.0M	Add +0.3%
UPSTART HOLDINGS INC (UPST 1 11/15/30)	NOTE 1.000%11/1 · principal	9,273,000	$7.6M	Add +36.3%
MACOM TECH SOLUTIONS (MTSI 0 12/15/29)	NOTE 12/1 · principal	3,133,000	$7.2M	New
ADVANCED ENERGY IND (AEIS 2.5 09/15/28)	NOTE 2.500% 9/1 · principal	2,573,000	$7.1M	Add +355.4%
EVOLENT HEALTH INC	DEBT 4.500% 8/1 · principal	8,037,000	$6.5M	No change
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27)	NOTE 5.500% 3/1 · principal	6,398,000	$6.5M	No change
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27)	NOTE 0.250% 3/0 · principal	5,675,000	$6.3M	Add +100.4%
UNITY SOFTWARE INC (U 0 11/15/26)	NOTE 11/1 · principal	6,413,000	$6.3M	No change
TRAVERE THERAPEUTICS INC (TVTX 0.5 05/15/32)	NOTE 0.500% 5/1 · principal	5,258,000	$6.2M	New
BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27)	UNIT 02/01/2027	26,427	$6.1M	Add +0.4%
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28)	NOTE 3.750% 3/1 · principal	5,147,000	$6.0M	No change
STRATEGY INC (MSTR 8 PERP)	SERIES A PERP PF	100,876	$5.9M	Add +3.1%
TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024)	NOTE 1.500% 3/1 · principal	6,196,000	$5.9M	New
SOUTHERN CO (SO 3.25 06/15/28)	NOTE 3.250% 6/1 · principal	5,759,000	$5.8M	New
T1 ENERGY INC (TE 5.25 12/01/30)	NOTE 5.250%12/0 · principal	3,350,000	$5.8M	Add +8.1%
LIFE360 INC (LIF 0 06/01/30)	NOTE 6/0 · principal	5,610,000	$5.8M	New
HERBALIFE LTD (HLF 4.25 06/15/28)	NOTE 4.250% 6/1 · principal	4,992,000	$5.8M	Add +66.4%
LYFT INC (LYFT 0.625 03/01/29)	NOTE 0.625% 3/0 · principal	5,442,000	$5.7M	Add +87.3%
CERENCE INC (CRNC 1.5 07/01/28)	NOTE 1.500% 7/0 · principal	6,200,000	$5.7M	No change
SEAGATE HDD CAYMAN (STX 3.5 06/01/28)	NOTE 3.500% 6/0 · principal	485,000	$5.7M	Reduce -66.0%
REVOLUTION MEDICINES INC (RVMD 0.5 05/01/33)	NOTE 0.500% 5/0 · principal	4,498,000	$5.6M	New
GREENBRIER COS INC (GBX 2.875 04/15/28)	NOTE 2.875% 4/1 · principal	4,900,000	$5.6M	No change
GUARDANT HEALTH INC (GH 0 11/15/27)	NOTE 11/1 · principal	4,487,000	$5.6M	Reduce -62.6%
COGENT BIOSCIENCES INC (COGT 1.625 11/15/31)	NOTE 1.625%11/1 · principal	4,465,000	$5.6M	Reduce -0.1%
MIRUM PHARMACEUTICALS (MIRM 4 05/01/29)	NOTE 4.000% 5/0 · principal	1,406,000	$5.2M	Add +0.5%
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	4,212,000	$5.1M	Reduce -81.4%
THE REALREAL INC (REAL 4 02/15/31)	DEBT 4.000% 2/1 · principal	3,550,000	$5.1M	Add +26.8%
SNAP INC (SNAP 0.125 03/01/28)	NOTE 0.125% 3/0 · principal	4,850,000	$4.5M	No change
BRUKER CORP (BRKR 6.375 09/01/28)	6.375 PREF SER A	10,000	$4.4M	Reduce -85.9%
OMNICELL INC (OMCL 1 12/01/29)	NOTE 1.000%12/0 · principal	4,168,000	$4.4M	Add +45.0%
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29)	NOTE 5.125%11/1 · principal	4,038,000	$4.2M	Reduce -44.0%
ALLIANT ENERGY CORP (LNT 3.25 05/30/28)	NOTE 3.250% 5/3 · principal	3,750,000	$4.1M	New
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	3,108,000	$4.1M	Reduce -58.3%
WAYFAIR INC (W 3.25 09/15/27)	NOTE 3.250% 9/1 · principal	2,599,000	$3.9M	Reduce -14.7%
IMMUNOCORE HOLDINGS (IMCR 2.5 02/01/30)	NOTE 2.500% 2/0 · principal	4,100,000	$3.8M	Reduce -26.8%
BLOCK INC (XYZ 0.25 11/01/27)	NOTE 0.250%11/0 · principal	3,981,000	$3.8M	No change
AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29)	NOTE 2.000% 3/1 · principal	3,862,000	$3.5M	Reduce -4.8%
SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28)	NOTE 3.250%11/0 · principal	2,215,000	$3.5M	New
STRIDE INC (LRN 1.125 09/01/27)	NOTE 1.125% 9/0 · principal	2,035,000	$3.5M	Add +0.3%
FASTLY INC (FSLY 7.75 06/01/28)	NOTE 7.750% 6/0 · principal	2,290,000	$3.3M	New
VSE CORP (VSEC 5.75 02/01/29)	UNIT 02/01/2029	57,135	$3.3M	New
JD.COM INC (JD 0.25 06/01/29)	NOTE 0.250% 6/0 · principal	3,185,000	$3.1M	Reduce -39.3%
T1 ENERGY INC (TE 4 04/15/31)	NOTE 4.000% 4/1 · principal	1,770,000	$3.1M	New
EVOLENT HEALTH INC (EVH 3.5 12/01/29)	NOTE 3.500%12/0 · principal	4,121,000	$3.1M	Add +61.3%
BOX INC (BOX 1.5 09/15/29)	NOTE 1.500% 9/1 · principal	3,031,000	$3.0M	Add +2630.6%
WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30)	NOTE 3.250% 1/1 · principal	3,101,000	$2.9M	Reduce -81.7%
ZENAS BIOPHARMA INC (ZBIO 2.5 04/01/32)	NOTE 2.500% 4/0 · principal	2,360,000	$2.8M	New
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27)	NOTE 0.375% 9/0 · principal	2,342,000	$2.8M	Add +32.9%
JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29)	NOTE 2.500% 9/0 · principal	2,360,000	$2.6M	Reduce -87.8%
WILLIS LEASE FINANCE COR (WLFC 2.5 05/15/31)	NOTE 2.500% 5/1 · principal	2,300,000	$2.5M	New
WHIRLPOOL CORP (WHR 8.5 02/15/29 A)	8.5 DEP SR A CNV	69,200	$2.4M	New
CELCUITY INC (CELC 2.75 08/01/31)	NOTE 2.750% 8/0 · principal	980,000	$2.2M	No change
MARA HOLDINGS INC (MARA 0 03/01/30)	NOTE 3/0 · principal	2,170,000	$2.2M	Reduce -22.5%
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	1,980,000	$1.9M	No change
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	1,549,000	$1.8M	No change
RAMACO RESOURCES INC (METC 0 11/01/31)	NOTE 11/0 · principal	2,000,000	$1.5M	No change
REDWOOD TRUST INC (RWT 7.75 06/15/27)	NOTE 7.750% 6/1 · principal	1,300,000	$1.3M	Reduce -27.8%
NEXTERA ENERGY INC (NEE 7.375 02/15/29)	UNIT 02/15/2029	25,800	$1.2M	New
JOBY AVIATION INC (JOBY 0.75 02/15/32)	NOTE 0.750% 2/1 · principal	1,330,000	$1.2M	New
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29)	NOTE 1.500%12/1 · principal	88,000	$1.1M	Reduce -92.0%
STRATEGY INC (MSTR 0.625 03/15/30)	NOTE 0.625% 3/1 · principal	1,029,000	$1.1M	Add +6.6%
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27)	NOTE 2.500% 3/1 · principal	574,000	$1.0M	Add +91.3%
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27)	NOTE 1.000% 9/1 · principal	850,000	$1.0M	New
KOSMOS ENERGY LTD (KOS 3.125 03/15/30)	NOTE 3.125% 3/1 · principal	1,240,000	$949K	New
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	1,000,000	$949K	No change
VIRIDIAN THERAPEUTICS INC	NOTE 1.750% 5/1 · principal	800,000	$862K	New
CENTRUS ENERGY CORP (LEU 2.25 11/01/30)	NOTE 2.250%11/0 · principal	410,000	$815K	Add +105.0%
ZIFF DAVIS INC (ZD 1.75 11/01/26)	NOTE 1.750%11/0 · principal	775,000	$771K	No change
STRATEGY INC (MSTR 0 12/01/29)	NOTE 12/0 · principal	805,000	$696K	New
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	346,000	$589K	Reduce -69.7%
CIPHER DIGITAL INC (CIFR 1.75 05/15/30)	NOTE 1.750% 5/1 · principal	95,000	$533K	No change
AMC GLOBAL MEDIA INC (AMCX 4.25 02/15/29 *)	NOTE 4.250% 2/1 · principal	476,000	$516K	No change
APPLIED DIGITAL CORP (APLD 2.75 06/01/30)	NOTE 2.750% 6/0 · principal	112,000	$447K	Add +6.7%
TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29)	NOTE 2.250% 3/0 · principal	216,000	$403K	Reduce -98.8%
WOLFSPEED INC (WOLF 2.5 06/15/31)	NOTE 2.500% 6/1 · principal	80,000	$315K	New
AUROW Aurora Innovation Inc. -CW28	*W EXP 11/03/202	61,500	$20K	No change
GME.WS Gamestop Corp.	*W EXP 10/30/202	6,778	$19K	No change
BBAI.WS Bigbear.ai Holdings -CW28	*W EXP 12/08/202	18,260	$6K	No change
OPENW Opendoor Technologies Inc.-26	*W EXP 11/20/202	1,199	$594	No change
OPENL Opendoor Technologies Inc.-26	*W EXP 11/20/202	1,199	$339	No change
OPENZ Opendoor Technologies Inc.-26	*W EXP 11/20/202	1,199	$288	No change

Total filed on the 13F, all lines: $4.4B.

Portfolio Sells Q1 2026 → Q2 2026


GM General Motors Co.	Sold out	0.00%	−4.08
UAL United Airlines Holdings Inc.	Sold out	0.00%	−4.03
SPOT Spotify Technology SA	Sold out	0.00%	−3.72
ABBV Abbvie Inc.	Sold out	0.00%	−3.57
CRWD CrowdStrike Holdings Inc. Class A	Sold out	0.00%	−3.42
IBM Intl Business Machines Corp.	Sold out	0.00%	−3.19
GOOG Alphabet Inc. Class C	Sold out	0.00%	−3.14
GE General Electric	Sold out	0.00%	−3.11
C Citigroup Inc.	Sold out	0.00%	−3.11
COMP Compass Inc. Class A	Sold out	0.00%	−2.74
STX Seagate Technology Holdings	Sold out	0.00%	−2.58
CPA Copa Holdings SA Class A	Sold out	0.00%	−2.37
BE Bloom Energy Corp. Class A	Sold out	0.00%	−2.23
CCL Carnival Corp. Ltd.	Reduce -32.0%	2.64%	−0.90
AAPL Apple Inc.	Sold out	0.00%	−0.83
AMZN Amazon.com Inc.	Reduce -31.3%	2.85%	−0.80
FTAI Ftai Aviation Ltd.	Sold out	0.00%	−0.25
ESPR Esperion Therapeutics Inc.	Sold out	0.00%	−0.15
MTB M & T Bank Corp.	Reduce -16.7%	2.59%	−0.13
MS Morgan Stanley	Reduce -16.7%	3.41%	+0.17
CIFR Cipher Digital Inc.	Reduce -33.3%	2.67%	+0.55
GLW Corning Inc.	Reduce -15.0%	4.73%	+1.75
ACVT Advent Convertible Bond ETF	Reduce -0.7%	32.74%	+1.86

Portfolio Buys Q1 2026 → Q2 2026


STM Stmicroelectronics NV-NY SHS	New	14.09%	+14.09
SNDK Sandisk Corp.	New	3.71%	+3.71
RKT Rocket Cos Inc. Class A	New	3.26%	+3.26
CMI Cummins Inc.	New	3.11%	+3.11
W Wayfair Inc. Class A	Add +1347.2%	3.02%	+2.85
NVDA Nvidia Corp.	New	2.83%	+2.83
VRT Vertiv Holdings Co. Class A	New	2.55%	+2.55
LOW Lowe's Cos Inc.	New	2.40%	+2.40
MU Micron Technology Inc.	New	2.26%	+2.26
AKAM Akamai Technologies Inc.	New	0.96%	+0.96
MDA Mda Space Ltd.	New	0.90%	+0.90
HZO Marinemax Inc.	New	0.41%	+0.41
QGEN Qiagen N.V.	Add +66.7%	0.28%	+0.11
BBAI Bigbear.ai Holdings Inc.	Add +100.0%	0.16%	+0.08

Options Activity Q1 2026 → Q2 2026


SPY SS SPDR S&P 500 ETF Trust-US	call	Sold out	300,000	$195.1Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US	put	Reduce -9.4%	38,500	$28.8M
QQQ Invesco QQQ Trust Series 1	put	New	20,000	$14.7M
BBY Best Buy Co. Inc.	call	New	100,000	$7.6M
MSFT Microsoft Corp.	call	Sold out	20,000	$7.4Mbefore exit
SMCI Super Micro Computer Inc.	call	New	162,500	$4.8M
ECHO Echostar Corp. Class A	call	Sold out	27,500	$3.2Mbefore exit
AMZN Amazon.com Inc.	call	New	12,500	$3.0M
BKSY Blacksky Technology Inc.	put	New	100,000	$2.8M
HD Home Depot Inc.	call	New	7,000	$2.5M
SMCI Super Micro Computer Inc.	put	Sold out	100,000	$2.3Mbefore exit
NCLH Norwegian Cruise Line Holdin	call	Sold out	100,000	$1.9Mbefore exit
GS Goldman Sachs Group Inc.	call	Sold out	2,000	$1.7Mbefore exit
JOBY Joby Aviation Inc.	put	Sold out	200,000	$1.7Mbefore exit
SOFI Sofi Technologies Inc.	call	New	70,000	$1.3M
HTZ Hertz Global Hldgs Inc.	put	New	400,000	$906K
BTDR Bitdeer Technologies Group-A	call	New	55,000	$873K
PLUG Plug Power Inc.	call	Add +20.0%	300,000	$813K
WOLF Wolfspeed Inc.	call	New	16,000	$772K
SNOW Snowflake Inc.	call	New	3,000	$764K
AKAM Akamai Technologies Inc.	call	Sold out	6,000	$689Kbefore exit
IREN Iren Ltd.	call	New	15,000	$686K
INDI Indie Semiconductor Inc. Class A	call	Sold out	200,000	$644Kbefore exit
CIFR Cipher Digital Inc.	call	Reduce -11.1%	20,000	$490K
ARRY Array Technologies Inc.	call	New	25,000	$185K
FMC FMC Corp.	call	New	10,000	$115K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2026 → Q2 2026


BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	Reduce -1.9%	146,276	$183.9M
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	Add +2.6%	152,080	$176.6M
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	Add +2.8%	122,088,000	$146.4M
DOORDASH INC (DASH 0 05/15/30)	NOTE 5/1 · principal	New	141,271,000	$139.3M
NEXTERA ENERGY INC (NEE 7.299 06/01/27)	UNIT 06/01/2027	Add +0.9%	1,953,959	$104.8M
VENTAS REALTY LP (VTR 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	Sold out	61,850,000	$92.9Mbefore exit
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	Add +10.8%	82,240,000	$92.3M
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)	NOTE 2.875% 3/1 · principal	Add +13.7%	80,083,000	$91.7M
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	Reduce -6.2%	94,075,000	$85.1M
ALPHABET INC (GOOGL 6.25 05/15/29 A)	DEP SHS RP1/20 A	New	1,638,841	$82.7M
AKAMAI TECHNOLOGIES INC (AKAM 0.25 05/15/33)	NOTE 0.250% 5/1 · principal	New	56,426,000	$82.4M
KKR & CO INC (KKR 6.25 03/01/28 D)	6.25 CON SER D	Add +0.5%	2,056,082	$82.0M
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	Reduce -18.0%	4,513,000	$76.1M
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	Add +32.5%	75,871,000	$72.5M
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26)	SER A MAND CNV	Reduce -16.5%	1,088,860	$66.4M
SNOWFLAKE INC (SNOW 0 10/01/29)	NOTE 10/0 · principal	Add +15.8%	36,106,000	$63.9M
ALPHABET INC (GOOGL 6.25 05/15/29 B)	DEP SHS RP1/20 B	New	1,267,980	$63.9M
SOUTHERN CO (SO 7.125 12/15/28 A)	UNIT 12/15/2028	Add +8.4%	1,215,477	$60.8M
BOEING CO/THE (BA 6 10/15/27)	DEP CONV PFD A	Add +2.3%	887,378	$60.2M
TETRA TECH INC (TTEK 2.25 08/15/28)	DBCV 2.250% 8/1 · principal	Add +35.1%	53,812,000	$57.2M
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29)	NOTE 1.500% 9/0 · principal	New	47,419,000	$52.5M
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	Add +10.7%	38,877,000	$51.5M
CLOUDFLARE INC (NET 0 06/15/30)	NOTE 6/1 · principal	New	39,635,000	$50.2M
FIRSTENERGY CORP (FE 3.875 01/15/31)	NOTE 3.875% 1/1 · principal	New	44,372,000	$50.1M
MERITAGE HOMES CORP (MTH 1.75 05/15/28)	NOTE 1.750% 5/1 · principal	Reduce -8.7%	48,267,000	$50.1M
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26)	NOTE 4.250% 8/1 · principal	Reduce -1.0%	40,768,000	$49.8M
WEC ENERGY GROUP INC (WEC 4.375 06/01/29)	NOTE 4.375% 6/0 · principal	Add +18.8%	39,229,000	$48.8M
ORACLE CORP (ORCL 6.5 01/15/29 D)	6.5 DEP CUM SR D	New	1,055,583	$47.6M
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28)	DEP SHS REPSTG	Reduce -20.6%	603,716	$46.5M
SOUTHERN CO (SO 4.5 06/15/27)	NOTE 4.500% 6/1 · principal	Reduce -5.1%	40,642,000	$44.9M
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	Add +20.0%	41,593,000	$44.7M
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29)	NOTE 3.500% 3/0 · principal	Reduce -13.7%	47,021,000	$44.0M
PG&E CORP (PCG 4.25 12/01/27)	NOTE 4.250%12/0 · principal	Reduce -4.3%	42,689,000	$43.8M
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29)	NOTE 0.750%12/1 · principal	Reduce -46.7%	35,372,000	$41.4M
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)	NOTE 3.250%12/1 · principal	Reduce -0.7%	38,888,000	$38.3M
STRATEGY INC (MSTR 0.875 03/15/31)	NOTE 0.875% 3/1 · principal	Add +33.8%	38,723,000	$35.8M
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B)	6.75 SE B PFD	Add +0.6%	939,089	$35.6M
NCL CORPORATION LTD (NCLH 0.875 04/15/30)	NOTE 0.875% 4/1 · principal	New	31,489,000	$35.2M
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30)	NOTE 0.750% 6/0 · principal	Add +624.8%	31,723,000	$35.0M
ALPHATEC HOLDINGS INC (ATEC 0.75 03/15/30)	NOTE 0.750% 3/1 · principal	New	35,108,000	$33.7M
COINBASE GLOBAL INC (COIN 0.25 04/01/30)	NOTE 0.250% 4/0 · principal	Add +164.9%	36,881,000	$33.1M
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	Add +2.2%	33,272,000	$33.1M
PPL CORPORATION (PPL 7 02/15/29)	UNIT 02/15/2029	New	669,904	$32.7M
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	Sold out	28,645,000	$32.2Mbefore exit
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29)	NOTE 1.250%11/0 · principal	Reduce -14.6%	32,838,000	$31.7M
SUNRUN INC (RUN 4 03/01/30)	NOTE 4.000% 3/0 · principal	Add +5.3%	25,649,000	$30.8M
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28)	NOTE 3/1 · principal	Reduce -4.2%	31,277,000	$29.1M
GAMESTOP CORP (GME 0 06/15/32)	NOTE 6/1 · principal	New	28,165,000	$28.7M
SUPER MICRO COMPUTER INC (SMCI 0 06/15/30)	NOTE 6/1 · principal	New	30,992,000	$27.5M
DATADOG INC (DDOG 0 12/01/29)	NOTE 12/0 · principal	Reduce -76.7%	18,322,000	$26.1M

Showing the first 50 of 202.

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	23	$91.9M	ACVT, STM, GLW, ETN, NOW
Q1 2026	28	$91.3M	ACVT, GM, UAL, NOW, ETN
Q4 2025	15	$60.9M	ACVT, ETN, NOC, ABBV, GM
Q3 2025	19	$71.8M	ACVT, AMGN, FANG, AMZN, ETN
Q2 2025	30	$83.2M	ACVT, META, AMGN, AVGO, IBM
Q1 2025	20	$52.4M	AVGO, LOW, FANG, NOC, DXCM
Q4 2024	23	$52.2M	UPS, EXPE, LOW, X, ABBV
Q3 2024	39	$58.8M	NVDA, WHR, HD, VLO, ETN
Q2 2024	23	$55.8M	ZTS, ABBV, HD, AMZN, GOOG
Q1 2024	30	$69.9M	GOOG, UPS, ABBV, MDB, SLB