Agf Management Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Agf Management Ltd. reported 577 stock positions worth $22.9 billion. Its top holding was Nvidia (NVDA) at 4.5% of the portfolio, followed by Alphabet Class A (GOOGL, 3.7%) and Apple (AAPL, 3.6%). Compared with Q3 2025, it opened 65 new positions, sold out of 60, added to 190 and reduced 293. The biggest buy was a new position in Danaher (DHR) and the biggest sale Uber Technologies (UBER, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001003518
- Portfolio Value
- $22.9B (Q4 2025)
- SEC Filing
- 0000945621-26-000337 ↗ filed Feb 17, 2026
Holdings Value
Holdings 577 stocks · $22.9B
| NVDA Nvidia Corp. | 4.54% | 5,571,664 | $1.0B | Add +5.5% |
| GOOGL Alphabet Inc. Class A | 3.67% | 2,685,042 | $840.4M | Reduce -3.4% |
| AAPL Apple Inc. | 3.61% | 3,037,988 | $825.9M | Add +1.4% |
| AVGO Broadcom Inc. | 3.01% | 1,990,771 | $689.0M | Add +8.8% |
| AMZN Amazon.com Inc. | 2.90% | 2,876,345 | $663.9M | Add +38.8% |
| GS Goldman Sachs Group Inc. | 2.25% | 585,121 | $514.3M | Reduce -1.9% |
| META Meta Platforms Inc. Class A | 2.12% | 737,236 | $486.6M | Reduce -19.0% |
| RY Royal Bank of Canada | 1.99% | 2,396,579 | $456.4M | Add +0.3% |
| ABBV Abbvie Inc. | 1.98% | 1,986,753 | $454.0M | Add +97.3% |
| LHX L3HARRIS Technologies Inc. | 1.98% | 1,545,768 | $453.8M | Add +3.0% |
| DHR Danaher Corp. | 1.96% | 1,963,129 | $449.4M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.93% | 8,057,993 | $443.2M | Add +18.5% |
| WMT Walmart Inc. | 1.59% | 3,267,880 | $364.1M | Reduce -0.1% |
| XLK SS Technology Select Sector | 1.45% | 2,305,500 | $331.9M | Reduce -7.7% |
| TD Toronto-Dominion Bank | 1.44% | 3,042,610 | $331.0M | Reduce -9.8% |
| MSFT Microsoft Corp. | 1.34% | 634,926 | $307.1M | Add +7.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.25% | 608,740 | $285.4M | Add +2.9% |
| VLO Valero Energy Corp. | 1.18% | 1,656,718 | $269.7M | Add +5195.9% |
| TSLA Tesla Inc. | 1.11% | 566,933 | $255.0M | Add +3.0% |
| ISRG Intuitive Surgical Inc. | 1.09% | 442,620 | $250.7M | Reduce -4.6% |
| NOC Northrop Grumman Corp. | 1.04% | 418,304 | $238.5M | Add +144.6% |
| HLT Hilton Worldwide Holdings Inc. | 0.99% | 790,906 | $227.2M | Add +185.0% |
| APH Amphenol Corp. Class A | 0.99% | 1,671,695 | $225.9M | Reduce -39.1% |
| AMAT Applied Materials Inc. | 0.95% | 845,271 | $217.2M | Add +4325.7% |
| ULTA Ulta Beauty Inc. | 0.94% | 356,318 | $215.6M | Add +4859.2% |
| CCJ Cameco Corp. | 0.92% | 2,299,732 | $210.5M | Reduce -2.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.91% | 623,443 | $209.1M | Reduce -2.6% |
| V Visa Inc. Class A | 0.91% | 594,431 | $208.5M | Reduce -2.6% |
| COF Capital One Financial Corp. | 0.89% | 841,648 | $204.0M | New |
| GLW Corning Inc. | 0.85% | 2,222,198 | $194.6M | New |
| CP Canadian Pacific Kansas City | 0.80% | 2,500,911 | $184.3M | Add +25.0% |
| HOOD Robinhood Markets Inc. Class A | 0.79% | 1,598,728 | $180.8M | Reduce -11.3% |
| CNQ Canadian Natural Resources | 0.76% | 4,879,368 | $173.4M | Add +17.5% |
| JPM JPMorgan Chase & Co. | 0.75% | 531,758 | $171.3M | Reduce -1.3% |
| ENB Enbridge Inc. | 0.72% | 3,127,756 | $164.0M | Add +8.4% |
| BSX Boston Scientific Corp. | 0.70% | 1,687,336 | $160.9M | Reduce -47.9% |
| PHM Pultegroup Inc. | 0.70% | 1,366,279 | $160.2M | Add +3.5% |
| AEM Agnico Eagle Mines Ltd. | 0.66% | 892,110 | $151.3M | Reduce -9.1% |
| MFC Manulife Financial Corp. | 0.66% | 3,759,327 | $150.8M | Reduce -9.7% |
| TRI Thomson Reuters Corp. | 0.64% | 1,113,665 | $147.3M | Add +28.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.64% | 483,175 | $146.8M | Add +3.6% |
| FTEC Fidelity MSCI Info Tech Indx | 0.64% | 653,240 | $146.8M | Reduce -5.3% |
| HWM Howmet Aerospace Inc. | 0.62% | 692,170 | $141.9M | Add +2.3% |
| SU Suncor Energy Inc. | 0.61% | 2,558,476 | $139.6M | Add +2.8% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.60% | 843,734 | $138.5M | Reduce -1.8% |
| WCN Waste Connections Inc. | 0.59% | 766,893 | $134.5M | Reduce -10.9% |
| XLV SS Health Care Select Sector | 0.58% | 852,861 | $132.0M | Add +8.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.57% | 850,882 | $130.7M | Reduce -1.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.57% | 1,428,135 | $130.5M | Reduce -11.5% |
| COST Costco Wholesale Corp. | 0.55% | 146,527 | $126.4M | Add +51.3% |
| VOO Vanguard S&P 500 ETF | 0.55% | 200,598 | $125.8M | Reduce -6.6% |
| ETN Eaton Corp. PLC | 0.54% | 386,280 | $123.0M | Reduce -0.2% |
| CBRE CBRE Group Inc. Class A | 0.53% | 756,580 | $121.7M | Add +2.5% |
| WM Waste Management Inc. | 0.53% | 548,001 | $120.4M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.52% | 572,755 | $118.5M | Reduce -2.7% |
| ICE Intercontinental Exchange Inc. | 0.50% | 713,258 | $115.5M | Reduce -48.2% |
| EMBJ Embraer SA-Spon ADR | 0.50% | 1,763,375 | $113.5M | Reduce -20.3% |
| XLF SS Financial Select Sector | 0.49% | 2,065,039 | $113.1M | Reduce -20.7% |
| XLC SS Comm Select Sector SPDR | 0.48% | 932,261 | $109.7M | Reduce -8.8% |
| PRI Primerica Inc. | 0.47% | 420,515 | $108.6M | Add +1.6% |
| NTRA Natera Inc. | 0.47% | 474,130 | $108.6M | Add +6371.9% |
| ARGX Argenx SE - ADR | 0.46% | 124,691 | $104.9M | New |
| MSI Motorola Solutions Inc. | 0.46% | 272,359 | $104.4M | Add +40.5% |
| VEA Vanguard Ftse Developed ETF | 0.45% | 1,662,448 | $103.9M | Add +6.0% |
| PM Philip Morris International | 0.44% | 631,369 | $101.3M | Reduce -0.5% |
| BN Brookfield Corp. | 0.43% | 2,128,475 | $98.3M | Reduce -9.7% |
| HD Home Depot Inc. | 0.43% | 285,452 | $98.2M | Add +10.8% |
| ADI Analog Devices Inc. | 0.42% | 353,012 | $95.7M | Reduce -8.1% |
| AMD Advanced Micro Devices | 0.41% | 443,721 | $95.0M | Add +4208.0% |
| CB Chubb Ltd. | 0.41% | 303,769 | $94.8M | Reduce -0.8% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.41% | 637,754 | $94.3M | Add +75.9% |
| MDLZ Mondelez International Inc. Class A | 0.41% | 1,744,878 | $93.9M | Reduce -0.9% |
| PWR Quanta Services Inc. | 0.40% | 219,617 | $92.7M | Add +3.0% |
| LLY Eli Lilly & Co. | 0.40% | 85,835 | $92.2M | Reduce -26.0% |
| XLI SS Industrial Select Sector | 0.39% | 579,320 | $89.9M | Add +42.6% |
| ROK Rockwell Automation Inc. | 0.39% | 229,868 | $89.4M | New |
| CCEP Coca-Cola Europacific Partne | 0.39% | 982,866 | $89.1M | Add +3.6% |
| NTR Nutrien Ltd. | 0.38% | 1,138,537 | $87.4M | Add +1.2% |
| RCI Rogers Communications Inc. Class B | 0.38% | 1,676,625 | $86.8M | Reduce -5.5% |
| PBA Pembina Pipeline Corp. | 0.38% | 2,261,156 | $86.2M | Add +16.6% |
| TRP TC Energy Corp. | 0.37% | 1,256,846 | $83.8M | Add +0.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.37% | 265,951 | $83.7M | Reduce -0.8% |
| LIN Linde PLC | 0.36% | 195,575 | $83.4M | Add +38.9% |
| WMB Williams Cos Inc. | 0.36% | 1,365,633 | $82.1M | Reduce -0.3% |
| RCL Royal Caribbean Cruises Ltd. | 0.35% | 286,682 | $80.0M | Reduce -30.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 0.35% | 868,400 | $79.1M | Add +0.6% |
| TMO Thermo Fisher Scientific Inc. | 0.35% | 136,511 | $79.1M | Add +55.6% |
| AFL Aflac Inc. | 0.34% | 714,620 | $78.8M | Reduce -1.3% |
| BAM Brookfield Asset Mgmt-A | 0.34% | 1,480,469 | $77.7M | Add +75.7% |
| XLY SS Consumer Disc Select Sect | 0.32% | 615,060 | $73.4M | Reduce -3.2% |
| CRM Salesforce Inc. | 0.32% | 277,230 | $73.4M | Reduce -1.4% |
| VGT Vanguard Info Tech ETF | 0.32% | 96,779 | $73.0M | Reduce -3.5% |
| HON Honeywell International Inc. | 0.31% | 365,375 | $71.3M | Add +0.2% |
| CNI Canadian Natl Railway Co. | 0.30% | 539,682 | $69.8M | Reduce -28.6% |
| FHLC Fidelity MSCI Health Care | 0.30% | 928,163 | $68.9M | Add +2.3% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.30% | 338,881 | $68.3M | Add +92.4% |
| AXON Axon Enterprise Inc. | 0.30% | 119,896 | $68.1M | Reduce -7.2% |
| FNCL Fidelity MSCI Financial Indx | 0.29% | 865,856 | $67.3M | Add +1.4% |
| XLP SS Consumer Staples Sel Sect | 0.29% | 853,974 | $66.3M | Add +25.8% |
| SLF Sun Life Financial Inc. | 0.27% | 709,698 | $60.8M | Reduce -21.5% |
Other holdings (66): bonds, preferreds, convertibles and warrants · $147.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) | NOTE 1.750% 1/1 · principal | 12,150,000 | $11.0M | No change |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 14,600,000 | $9.8M | Add +7.3% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 7,000,000 | $7.9M | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 4,100,000 | $6.4M | No change |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 3,125,000 | $5.7M | Add +212.5% |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 2,250,000 | $5.3M | Reduce -13.5% |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 4,600,000 | $5.3M | New |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 2,589,000 | $5.3M | New |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 4,125,000 | $4.2M | No change |
| GROUPON INC (GRPN 4.875 06/30/30 UNRS) | NOTE 4.875% 6/3 · principal | 4,300,000 | $3.8M | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 2,500 | $3.1M | No change |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 2,825,000 | $3.1M | Reduce -72.6% |
| GOSSAMER BIO INC (GOSS 5 06/01/27) | NOTE 5.000% 6/0 · principal | 4,250,000 | $2.9M | No change |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 1,175,000 | $2.4M | No change |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 2,275,000 | $2.2M | Reduce -24.2% |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 1,500,000 | $2.2M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 2,125,000 | $2.2M | New |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 40,000 | $2.2M | No change |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 1,825,000 | $2.0M | Add +15.9% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 1,500,000 | $2.0M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 1,900,000 | $2.0M | No change |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 1,300,000 | $1.9M | New |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 750,000 | $1.9M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 1,000,000 | $1.9M | No change |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 1,650,000 | $1.9M | Reduce -88.5% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 1,250,000 | $1.9M | No change |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 1,075,000 | $1.8M | Reduce -12.2% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 700,000 | $1.8M | No change |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 1,150,000 | $1.7M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 1,500,000 | $1.6M | Reduce -40.0% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 1,300 | $1.6M | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 26,000 | $1.5M | No change |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 1,500,000 | $1.5M | No change |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 1,050,000 | $1.5M | Reduce -88.1% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 1,350,000 | $1.5M | No change |
| CENTURY ALUMINUM COMPANY (CENX 2.75 05/01/28) | NOTE 2.750% 5/0 · principal | 700,000 | $1.5M | No change |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 950,000 | $1.4M | No change |
| CELCUITY INC (CELC 2.75 08/01/31) | NOTE 2.750% 8/0 · principal | 600,000 | $1.3M | No change |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 1,150,000 | $1.3M | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 950,000 | $1.2M | No change |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 1,000,000 | $1.2M | No change |
| DYNAVAX TECHNOLOGIES (DVAX 2.5 05/15/26) | NOTE 2.500% 5/1 · principal | 825,000 | $1.2M | No change |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 475,000 | $1.2M | No change |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 750,000 | $1.2M | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 17,000 | $1.2M | Reduce -46.9% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 1,050,000 | $1.2M | No change |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 1,150,000 | $1.1M | New |
| CNX RESOURCES CORP (CNX 2.25 05/01/26) | NOTE 2.250% 5/0 · principal | 400,000 | $1.1M | No change |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 1,050,000 | $1.1M | No change |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 15,000 | $1.1M | Reduce -28.6% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 1,100,000 | $1.1M | No change |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 750,000 | $1.1M | No change |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 1,000,000 | $1.1M | New |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 1,000,000 | $1.1M | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 20,500 | $1.1M | Reduce -29.3% |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 1,125,000 | $1.1M | No change |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 1,000,000 | $1.0M | No change |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 800,000 | $1.0M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 875,000 | $1.0M | No change |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 20,000 | $983K | No change |
| CENTRUS ENERGY CORP (LEU 2.25 11/01/30) | NOTE 2.250%11/0 · principal | 350,000 | $938K | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 800,000 | $908K | No change |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 175,000 | $588K | New |
| COGENT BIOSCIENCES INC (COGT 1.625 11/15/31) | NOTE 1.625%11/1 · principal | 500,000 | $585K | New |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 1,000 | $366K | No change |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 169,000 | $286K | Reduce -89.9% |
Total filed on the 13F, all lines: $23.1B.
Portfolio Sells Q3 2025 → Q4 2025
| UBER Uber Technologies Inc. | Reduce -99.5% | 0.01% | −1.42 |
| BKNG Booking Holdings Inc. | Reduce -97.5% | 0.03% | −1.15 |
| ORCL Oracle Corp. | Reduce -91.5% | 0.06% | −0.98 |
| META Meta Platforms Inc. Class A | Reduce -19.0% | 2.12% | −0.85 |
| NFLX Netflix Inc. | Reduce -98.9% | 0.01% | −0.82 |
| LPLA LPL Financial Holdings Inc. | Sold out | 0.00% | −0.79 |
| SPOT Spotify Technology SA | Reduce -99.8% | 0.00% | −0.74 |
| BSX Boston Scientific Corp. | Reduce -47.9% | 0.70% | −0.70 |
| ORLY O'reilly Automotive Inc. | Reduce -97.8% | 0.01% | −0.66 |
| ICE Intercontinental Exchange Inc. | Reduce -48.2% | 0.50% | −0.53 |
| APH Amphenol Corp. Class A | Reduce -39.1% | 0.99% | −0.52 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.52 |
| GEV GE Vernova Inc. | Reduce -96.1% | 0.02% | −0.46 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -99.6% | 0.00% | −0.43 |
| BIRK Birkenstock Holding PLC | Sold out | 0.00% | −0.42 |
| LNG Cheniere Energy Inc. | Reduce -90.4% | 0.04% | −0.41 |
| SE Sea Ltd.-ADR | Reduce -99.5% | 0.00% | −0.37 |
| NOW ServiceNow Inc. | Reduce -98.1% | 0.01% | −0.37 |
| HOOD Robinhood Markets Inc. Class A | Reduce -11.3% | 0.79% | −0.36 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -30.4% | 0.35% | −0.24 |
| EQIX Equinix Inc. | Reduce -54.1% | 0.19% | −0.24 |
| PGR Progressive Corp. | Reduce -90.6% | 0.02% | −0.22 |
| FLIN Franklin Ftse India ETF | Sold out | 0.00% | −0.20 |
| BIP Brookfield Infrastructure Pa | Reduce -57.5% | 0.14% | −0.17 |
| TU Telus Corp. | Reduce -79.0% | 0.03% | −0.15 |
| XLF SS Financial Select Sector | Reduce -20.7% | 0.49% | −0.13 |
| XLK SS Technology Select Sector | Reduce -7.7% | 1.45% | −0.12 |
| AXON Axon Enterprise Inc. | Reduce -7.2% | 0.30% | −0.12 |
| ETN Eaton Corp. PLC | Reduce -0.2% | 0.54% | −0.11 |
| EMBJ Embraer SA-Spon ADR | Reduce -20.3% | 0.50% | −0.10 |
| AVAV Aerovironment Inc. | Sold out | 0.00% | −0.09 |
| TME Tencent Music Entertainm-ADR | Sold out | 0.00% | −0.09 |
| Z Zillow Group Inc. Class C | Sold out | 0.00% | −0.09 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -11.5% | 0.57% | −0.09 |
| WCN Waste Connections Inc. | Reduce -10.9% | 0.59% | −0.09 |
| IQLT iShares MSCI International Q | Reduce -33.5% | 0.17% | −0.08 |
| FLSA Franklin Ftse Saudi Arabia | Sold out | 0.00% | −0.08 |
| CNI Canadian Natl Railway Co. | Reduce -28.6% | 0.30% | −0.08 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.9% | 0.41% | −0.08 |
| FENY Fidelity MSCI Energy Index | Reduce -74.8% | 0.03% | −0.08 |
| AEM Agnico Eagle Mines Ltd. | Reduce -9.1% | 0.66% | −0.07 |
| GRTUF Granite Real Estate Investme | Reduce -29.6% | 0.20% | −0.07 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -1.8% | 0.60% | −0.06 |
| XLC SS Comm Select Sector SPDR | Reduce -8.8% | 0.48% | −0.06 |
| BE Bloom Energy Corp. Class A | Sold out | 0.00% | −0.06 |
| TPR Tapestry Inc. | Reduce -92.1% | 0.01% | −0.06 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.05 |
| BN Brookfield Corp. | Reduce -9.7% | 0.43% | −0.05 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.05 |
| XLE SS Energy Select Sector | Reduce -25.2% | 0.14% | −0.05 |
Portfolio Buys Q3 2025 → Q4 2025
| DHR Danaher Corp. | New | 1.96% | +1.96 |
| VLO Valero Energy Corp. | Add +5195.9% | 1.18% | +1.15 |
| ABBV Abbvie Inc. | Add +97.3% | 1.98% | +0.94 |
| AMAT Applied Materials Inc. | Add +4325.7% | 0.95% | +0.93 |
| ULTA Ulta Beauty Inc. | Add +4859.2% | 0.94% | +0.92 |
| COF Capital One Financial Corp. | New | 0.89% | +0.89 |
| AMZN Amazon.com Inc. | Add +38.8% | 2.90% | +0.87 |
| GLW Corning Inc. | New | 0.85% | +0.85 |
| HLT Hilton Worldwide Holdings Inc. | Add +185.0% | 0.99% | +0.67 |
| NOC Northrop Grumman Corp. | Add +144.6% | 1.04% | +0.58 |
| NTRA Natera Inc. | Add +6371.9% | 0.47% | +0.47 |
| ARGX Argenx SE - ADR | New | 0.46% | +0.46 |
| AMD Advanced Micro Devices | Add +4208.0% | 0.41% | +0.41 |
| ROK Rockwell Automation Inc. | New | 0.39% | +0.39 |
| BAC Bank of America Corp. | Add +18.5% | 1.93% | +0.37 |
| AVGO Broadcom Inc. | Add +8.8% | 3.01% | +0.32 |
| RY Royal Bank of Canada | Add +0.3% | 1.99% | +0.23 |
| AAPL Apple Inc. | Add +1.4% | 3.61% | +0.21 |
| TMO Thermo Fisher Scientific Inc. | Add +55.6% | 0.35% | +0.16 |
| NVDA Nvidia Corp. | Add +5.5% | 4.54% | +0.16 |
| COST Costco Wholesale Corp. | Add +51.3% | 0.55% | +0.15 |
| BMO Bank of Montreal | Add +75.9% | 0.41% | +0.15 |
| MTB M & T Bank Corp. | Add +92.4% | 0.30% | +0.14 |
| CP Canadian Pacific Kansas City | Add +25.0% | 0.80% | +0.14 |
| CNQ Canadian Natural Resources | Add +17.5% | 0.76% | +0.13 |
| FIDU Fidelity MSCI Indust Indx | Add +246.1% | 0.18% | +0.13 |
| BAM Brookfield Asset Mgmt-A | Add +75.7% | 0.34% | +0.13 |
| XLI SS Industrial Select Sector | Add +42.6% | 0.39% | +0.11 |
| ALB Albemarle Corp. | New | 0.11% | +0.11 |
| AGI Alamos Gold Inc. Class A | Add +190.0% | 0.15% | +0.10 |
| COHR Coherent Corp. | Add +187.2% | 0.12% | +0.09 |
| XLV SS Health Care Select Sector | Add +8.7% | 0.58% | +0.09 |
| RGEN Repligen Corp. | New | 0.08% | +0.08 |
| GH Guardant Health Inc. | New | 0.07% | +0.07 |
| MCD McDonald's Corp. | Add +44.6% | 0.23% | +0.07 |
| LIN Linde PLC | Add +38.9% | 0.36% | +0.07 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.6% | 0.64% | +0.06 |
| MSI Motorola Solutions Inc. | Add +40.5% | 0.46% | +0.06 |
| RGLD Royal Gold Inc. | Add +328.9% | 0.08% | +0.06 |
| AA Alcoa Corp. | New | 0.06% | +0.06 |
| HAL Halliburton Co. | New | 0.06% | +0.06 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +101.7% | 0.11% | +0.05 |
| XLP SS Consumer Staples Sel Sect | Add +25.8% | 0.29% | +0.05 |
| RKLB Rocket Lab Corp. | Add +47.4% | 0.10% | +0.05 |
| ALLY Ally Financial Inc. | New | 0.05% | +0.05 |
| MKSI MKS Inc. | New | 0.05% | +0.05 |
| SARO Standardaero Inc. | New | 0.05% | +0.05 |
| VWO Vanguard Ftse Emerging Marke | Add +277.6% | 0.06% | +0.04 |
| INSM Insmed Inc. | New | 0.04% | +0.04 |
| CELH Celsius Holdings Inc. | New | 0.04% | +0.04 |
Notes & Other Activity Q3 2025 → Q4 2025
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Sold out | 16,450,000 | $17.0Mbefore exit |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | Sold out | 18,658,000 | $15.4Mbefore exit |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | Sold out | 14,250,000 | $12.5Mbefore exit |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | Sold out | 13,600,000 | $11.5Mbefore exit |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | Sold out | 10,375,000 | $11.0Mbefore exit |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | Add +7.3% | 14,600,000 | $9.8M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | New | 7,000,000 | $7.9M |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | Add +212.5% | 3,125,000 | $5.7M |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | Reduce -13.5% | 2,250,000 | $5.3M |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | New | 4,600,000 | $5.3M |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | New | 2,589,000 | $5.3M |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Sold out | 5,420,000 | $4.7Mbefore exit |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | Reduce -72.6% | 2,825,000 | $3.1M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | Reduce -24.2% | 2,275,000 | $2.2M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | New | 2,125,000 | $2.2M |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | Sold out | 1,400,000 | $2.2Mbefore exit |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Sold out | 1,100,000 | $2.2Mbefore exit |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Sold out | 1,625,000 | $2.2Mbefore exit |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | Add +15.9% | 1,825,000 | $2.0M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | New | 1,300,000 | $1.9M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -88.5% | 1,650,000 | $1.9M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Sold out | 1,700,000 | $1.8Mbefore exit |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | Reduce -12.2% | 1,075,000 | $1.8M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | New | 1,150,000 | $1.7M |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | Sold out | 1,850,000 | $1.7Mbefore exit |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Sold out | 1,050,000 | $1.7Mbefore exit |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Reduce -40.0% | 1,500,000 | $1.6M |
| AMC GLOBAL MEDIA INC (AMCX 4.25 02/15/29 *) | NOTE 4.250% 2/1 · principal | Sold out | 1,675,000 | $1.6Mbefore exit |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | Reduce -88.1% | 1,050,000 | $1.5M |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | Sold out | 1,200,000 | $1.4Mbefore exit |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Sold out | 1,125,000 | $1.3Mbefore exit |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | New | 1,150,000 | $1.3M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | New | 750,000 | $1.2M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -46.9% | 17,000 | $1.2M |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | New | 1,150,000 | $1.1M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -28.6% | 15,000 | $1.1M |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | New | 1,000,000 | $1.1M |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 1,000,000 | $1.1M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Reduce -29.3% | 20,500 | $1.1M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Sold out | 20,000 | $994Kbefore exit |
| CENTRUS ENERGY CORP (LEU 2.25 11/01/30) | NOTE 2.250%11/0 · principal | New | 350,000 | $938K |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Sold out | 750,000 | $684Kbefore exit |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | New | 175,000 | $588K |
| COGENT BIOSCIENCES INC (COGT 1.625 11/15/31) | NOTE 1.625%11/1 · principal | New | 500,000 | $585K |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | Reduce -89.9% | 169,000 | $286K |
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 | 589 | $25.6B | NVDA, GOOGL, AMZN, LLY, AMAT |
| Q1 2026 | 577 | $22.2B | NVDA, GOOGL, AMZN, LIN, RY |
| Q4 2025 | 577 | $22.9B | NVDA, GOOGL, AAPL, AVGO, AMZN |
| Q3 2025 | 570 | $22.5B | NVDA, AAPL, GOOGL, META, AVGO |
| Q2 2025 | 558 | $21.9B | NVDA, META, AVGO, GOOGL, AMZN |
| Q1 2025 | 597 | $18.8B | AMZN, NVDA, BSX, GOOGL, ISRG |
| Q4 2024 | 619 | $20.0B | NVDA, AMZN, XLK, LLY, ISRG |
| Q3 2024 | 601 | $19.6B | NVDA, AMZN, LLY, ISRG, BSX |
| Q2 2024 | 611 | $17.9B | NVDA, AMZN, LLY, ISRG, BSX |
| Q1 2024 | 638 | $17.9B | AMZN, NVDA, LLY, ISRG, BSX |