AQR Arbitrage LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), AQR Arbitrage LLC reported 209 stock positions worth $2.3 billion. Its top holding was Hess (HES) at 4.3% of the portfolio, followed by Championx (CHX, 3.8%) and Discover Financial Services (DFS, 3.4%). Compared with Q4 2024, it opened 45 new positions, sold out of 73, added to 28 and reduced 99. The biggest buy was a new position in Beacon Roofing Supply (BECN) and the biggest sale an exit from Endeavor Group Hold Class A (EDR).
- Most Recent 13F
- Q2 2026
- Location
- Greenwich, CT
- CIK
- 0001167456
- Portfolio Value
- $2.3B (Q1 2025)
- SEC Filing
- 0001085146-25-003312 ↗ filed May 15, 2025
Holdings Value
Holdings 209 stocks · $2.3B
| HES Hess Corp. | 4.34% | 622,469 | $99.4M | Add +20.6% |
| CHX Championx Corp. | 3.77% | 2,903,217 | $86.4M | Add +3.4% |
| DFS Discover Financial Services | 3.40% | 470,451 | $78.0M | Add +84.8% |
| ALE Allete Inc. | 3.39% | 1,183,682 | $77.8M | Add +39.7% |
| ESGR Enstar Group Ltd. | 2.52% | 173,898 | $57.8M | Add +2.4% |
| BERY Berry Global Group Inc. | 2.37% | 779,229 | $54.3M | Reduce -6.6% |
| AMED Amedisys Inc. | 2.33% | 577,540 | $53.5M | Add +22.4% |
| IPG Interpublic Group of Cos Inc. | 2.29% | 1,952,307 | $52.5M | Add +158.5% |
| K Kellanova | 2.06% | 571,510 | $47.1M | Add +55.8% |
| EVRI Everi Holdings Inc. | 1.74% | 2,920,703 | $39.9M | Add +55.3% |
| ANSS Ansys Inc. | 1.73% | 126,241 | $39.6M | Add +16.4% |
| SPR Spirit Aerosystems Hold Class A | 1.64% | 1,093,536 | $37.6M | Add +73.9% |
| BECN Beacon Roofing Supply Inc. | 1.62% | 300,899 | $37.2M | New |
| HEES H&E Equipment Services Inc. | 1.46% | 354,101 | $33.6M | New |
| ITCI Intra-Cellular Therapies Inc. | 1.45% | 252,316 | $33.3M | New |
| PYCR Paycor HCM Inc. | 1.43% | 1,464,133 | $32.8M | New |
| DESP Despegar.com Corp. | 1.41% | 1,726,121 | $32.4M | Add +2701.9% |
| ARES ACQUISITION CORP II | 1.40% | 2,870,702 | $32.0M | Reduce -5.9% |
| PDCO Patterson Cos Inc. | 1.25% | 918,565 | $28.7M | Add +130.7% |
| JWN Nordstrom Inc. | 1.20% | 1,122,327 | $27.4M | Add +182.2% |
| ATSG Air Transport Services Group | 1.15% | 1,175,591 | $26.4M | Add +74.7% |
| FTW Eqv Ventures Acquisition C-A | 1.09% | 2,463,811 | $24.9M | No change |
| JNPR Juniper Networks Inc. | 1.00% | 632,771 | $22.8M | Add +92.0% |
| TGI Triumph Group Inc. | 0.99% | 892,539 | $22.6M | New |
| ANSC Agriculture & Natural Soluti | 0.98% | 2,115,706 | $22.6M | No change |
| FYBR Frontier Communications Pare | 0.96% | 616,510 | $22.1M | Add +22.9% |
| RIO Rio Tinto PLC-Spon ADR | 0.95% | 361,000 | $21.7M | No change |
| PLYA Playa Hotels & Resorts NV | 0.92% | 1,583,740 | $21.1M | New |
| BEAG Bold Eagle Acquisition Cor-A | 0.92% | 2,072,363 | $21.0M | Reduce -26.8% |
| AACBU Artius II Acquisition Inc. | 0.87% | 1,980,000 | $20.0M | New |
| FBMS First Bancshares Inc. | 0.86% | 581,420 | $19.7M | Add +3.5% |
| MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR | 0.84% | 1,918,600 | $19.2M | No change |
| RAC.U Rithm Acquisition Corp. | 0.84% | 1,900,000 | $19.2M | New |
| HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP | 0.83% | 1,887,486 | $19.1M | No change |
| PTVE Pactiv Evergreen Inc. | 0.82% | 1,044,497 | $18.8M | Add +157.7% |
| ALF Centurion Acquisition Corp. | 0.80% | 1,784,642 | $18.4M | Reduce -6.0% |
| FERAU Fifth Era Acquisition Corp. I | 0.78% | 1,782,582 | $18.0M | New |
| DNB Dun & Bradstreet Holdings Inc. | 0.76% | 1,939,905 | $17.3M | New |
| ALDF Aldel Financial II Inc. | 0.73% | 1,657,870 | $16.7M | Reduce -26.8% |
| GPAT GP-Act III Acquisition-A | 0.73% | 1,610,119 | $16.6M | Reduce -5.8% |
| CUB Lionheart Holdings Class A | 0.70% | 1,572,344 | $16.1M | Reduce -4.0% |
| LPAA Launch One Acquisition Corp. | 0.70% | 1,575,742 | $16.1M | No change |
| SBXDF Silverbox Corp. IV-A | 0.69% | 1,559,960 | $15.9M | No change |
| TONT Graf Global Corp. Class A | 0.68% | 1,533,378 | $15.7M | No change |
| MLAC Mountain Lake Acquisition-A | 0.67% | 1,533,906 | $15.4M | Reduce -22.5% |
| LPBB Launch Two Acquisition Class A | 0.67% | 1,517,183 | $15.4M | Reduce -18.7% |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 0.66% | 1,480,609 | $15.2M | No change |
| SVCCU Stellar V Capital Corp. | 0.66% | 1,485,000 | $15.0M | New |
| SIMA Sim Acquisition Corp. I-A | 0.65% | 1,463,722 | $15.0M | Reduce -7.3% |
| SASR Sandy Spring Bancorp Inc. | 0.65% | 535,330 | $15.0M | Add +33.8% |
| OACC Oaktree Acquisition Corp. I-A | 0.65% | 1,450,750 | $14.8M | Reduce -26.7% |
| GSRT GSR III Acquisition Corp. | 0.64% | 1,465,928 | $14.7M | Reduce -29.5% |
| LEGT Legato Merger Corp. III | 0.64% | 1,399,892 | $14.7M | Reduce -5.4% |
| VACH Voyager Acquisition Corp. | 0.63% | 1,418,939 | $14.4M | Reduce -6.6% |
| POLE Andretti Acquisition Corp. Class A | 0.62% | 1,405,933 | $14.3M | Reduce -7.6% |
| NHICU Newhold Investment Corp. III | 0.62% | 1,400,000 | $14.1M | New |
| BROOKLINE BANCORP INC | 0.61% | 1,287,231 | $14.0M | Add +220.0% |
| ML Moneylion Inc. | 0.61% | 161,864 | $14.0M | Add +126.2% |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.59% | 1,288,674 | $13.6M | Reduce -17.6% |
| ATIIU Archimedes Tech Spac Partner | 0.57% | 1,303,242 | $13.1M | New |
| LOKVU Live Oak Acquisition Corp. V | 0.57% | 1,300,000 | $13.1M | New |
| VCIC Vine Hill Capital Class A | 0.57% | 1,279,327 | $13.0M | No change |
| FACT Fact II Acquisition Corp. | 0.56% | 1,277,639 | $12.8M | Reduce -24.8% |
| ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII | 0.56% | 1,288,444 | $12.7M | New |
| JACS Jackson Acquisition Co. Class A | 0.54% | 1,239,792 | $12.5M | Reduce -22.5% |
| KFII K&F Growth Acquisition Cor-A | 0.54% | 1,245,000 | $12.4M | New |
| CEPO Cantor Equity Partners I-A | 0.54% | 1,200,000 | $12.3M | New |
| DRDB Roman DBDR Acquisition Corp. | 0.53% | 1,200,577 | $12.0M | Reduce -25.0% |
| CMRX Chimerix Inc. | 0.52% | 1,400,373 | $11.9M | New |
| RDUS Radius Recycling Inc. Class A | 0.51% | 405,319 | $11.7M | New |
| ACCD Accolade Inc. | 0.51% | 1,673,254 | $11.7M | New |
| IBAC Ib Acquisition Corp. | 0.51% | 1,128,646 | $11.6M | No change |
| CCRN Cross Country Healthcare Inc. | 0.50% | 769,552 | $11.5M | Add +28.8% |
| DYNC Dynamix Corp. | 0.49% | 1,120,299 | $11.1M | Reduce -22.7% |
| TDAC Translational Development Ac | 0.48% | 1,099,989 | $11.1M | Reduce -25.9% |
| JAZZ Jazz Pharmaceuticals PLC | 0.48% | 90,138 | $11.0M | Add +115.5% |
| AAM Aa Mission Acquisition Cor-A | 0.45% | 999,765 | $10.4M | Reduce -6.1% |
| MACI Melar Acquisition Corp. I-A | 0.45% | 1,018,179 | $10.4M | Reduce -6.0% |
| SWI Solarwinds Corp. | 0.45% | 561,773 | $10.4M | New |
| NTWO Newbury Street II Ac Class A | 0.45% | 1,017,744 | $10.2M | Reduce -30.0% |
| GSHRU Gesher Acquisition Corp. II | 0.44% | 1,000,000 | $10.0M | New |
| WBA Walgreens Boots Alliance Inc. | 0.43% | 875,082 | $9.8M | New |
| PLMK Plum Acquisition Corp. IV | 0.42% | 960,428 | $9.6M | Add +428.7% |
| PRA Proassurance Corp. | 0.36% | 349,661 | $8.2M | New |
| RFAI RF Acquisition Corp. II | 0.36% | 783,982 | $8.2M | Reduce -3.7% |
| RANG Range Capital Acquisition Co. | 0.34% | 765,683 | $7.7M | Reduce -22.7% |
| STEW SRH Total Return Fund Inc. | 0.33% | 444,748 | $7.6M | Reduce -1.7% |
| HAYMAKER ACQUISITION CORP 4 | 0.33% | 692,006 | $7.6M | No change |
| FG MERGER II CORP | 0.33% | 792,000 | $7.6M | New |
| W Wayfair Inc. Class A | 0.32% | 229,914 | $7.4M | Reduce -8.8% |
| GWRE Guidewire Software Inc. | 0.32% | 40,193 | $7.3M | New |
| TAVI Tavia Acquisition Corp. | 0.31% | 700,596 | $7.1M | Reduce -26.3% |
| LBRDK Liberty Broadband-C | 0.31% | 83,145 | $7.1M | New |
| SPKLF Spark I Acquisition Corp. | 0.30% | 633,999 | $6.9M | No change |
| SRDX Surmodics Inc. | 0.27% | 205,956 | $6.3M | No change |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | 0.27% | 471,748 | $6.1M | Reduce -4.9% |
| NOEM CO2 Energy Transition Corp. | 0.26% | 590,000 | $5.9M | New |
| DIAX Nuveen Dow 30 Dynamic Overwr | 0.25% | 398,849 | $5.6M | Reduce -8.3% |
| UCFI CN Healthy Food Tech Group C filed as IRON HORSE ACQUISITIONS CORP | 0.24% | 529,735 | $5.6M | No change |
| CHAR Charlton Aria Acquisiti Class A | 0.24% | 540,703 | $5.5M | No change |
Options reported separately and not counted above: MSTR puts ($76.0M), F puts ($34.6M).
Other holdings (192): bonds, preferreds, convertibles and warrants · $1.8B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 50,745,000 | $121.5M | Add +2.4% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 40,302,000 | $108.3M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 101,425,000 | $98.8M | Add +69.3% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 86,660,000 | $86.7M | Add +30.0% |
| MAKEMYTRIP LIMITED (MMYT 0 02/15/28) | NOTE 2/1 · principal | 32,425,000 | $82.0M | Add +14.1% |
| LIVONGO HEALTH (TDOC 0.875 06/01/25) | NOTE 0.875% 6/0 · principal | 68,000,000 | $67.5M | No change |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 43,787,000 | $60.1M | Add +80.8% |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | 56,460,000 | $58.9M | Add +839.9% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 65,884,000 | $57.9M | Add +717.5% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 35,000,000 | $48.7M | New |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | 36,150,000 | $44.0M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 42,300,000 | $42.2M | Add +519.4% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 44,012,000 | $41.6M | Add +214.4% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 40,975,000 | $39.5M | Add +93.5% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 38,075,000 | $38.3M | New |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 39,350,000 | $38.2M | New |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 33,050,000 | $37.1M | Add +60.0% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 37,003,000 | $36.9M | No change |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | 8,671,000 | $35.9M | Add +189.0% |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 29,975,000 | $34.7M | Reduce -14.3% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 37,500,000 | $33.6M | Add +111.9% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 33,455,000 | $33.1M | Add +27.5% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 31,545,000 | $31.5M | Reduce -35.7% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 26,500,000 | $30.2M | Add +51.4% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 407,000 | $29.9M | Add +102.0% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 31,127,000 | $28.9M | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 29,660,000 | $28.9M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 32,600,000 | $28.2M | Reduce -23.8% |
| BURLINGTON STORES INC (BURL 2.25 04/15/25) | NOTE 2.250% 4/1 · principal | 23,932,000 | $26.2M | New |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 27,944,000 | $23.7M | Reduce -33.4% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 20,460,000 | $21.8M | Add +12687.5% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 20,020,000 | $21.5M | Add +694.4% |
| ACCOLADE INC (ACCD 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | 21,750,000 | $21.4M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 19,550,000 | $20.3M | New |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 20,275,000 | $20.3M | New |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 22,609,000 | $20.1M | Reduce -6.2% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 19,765,000 | $18.0M | Reduce -40.6% |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 17,795,000 | $17.8M | No change |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | 17,600,000 | $17.5M | New |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 19,185,000 | $16.4M | Add +41.5% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 16,045,000 | $14.9M | Reduce -25.7% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 16,934,000 | $14.8M | Reduce -38.5% |
| GROUPON INC (GRPN 6.25 03/15/27 *) | NOTE 6.250% 3/1 · principal | 12,250,000 | $12.8M | Add +53.1% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 9,374,000 | $11.0M | No change |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 11,600,000 | $10.9M | New |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 10,624,000 | $10.8M | Reduce -65.5% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 10,038,000 | $8.6M | New |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 7,435,000 | $8.3M | New |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 8,855,000 | $8.2M | New |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | 7,867,000 | $7.9M | Add +61.4% |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 8,500,000 | $7.5M | New |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 7,675,000 | $6.3M | Reduce -66.3% |
| SNAP INC (SNAP 0.25 05/01/25) | NOTE 0.250% 5/0 · principal | 5,358,000 | $5.3M | No change |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 4,600,000 | $4.4M | No change |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 4,363,000 | $4.2M | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 3,000,000 | $3.3M | No change |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 2,814,000 | $2.7M | New |
| CCIRW Cohen Circle Acquisition-29 | *W EXP 01/31/202 | 680,309 | $1.2M | No change |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 835,000 | $958K | Reduce -95.4% |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | 1,116,928 | $771K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 2,828,981 | $707K | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 640,000 | $632K | Reduce -97.1% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 610,000 | $583K | Reduce -94.5% |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 2,462,563 | $443K | No change |
| GSRTR GSR III Acquisition Corp. | RIGHT 99/99/9999 | 297,167 | $437K | Add +0.0% |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 1,600,000 | $400K | No change |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 1,146,815 | $378K | No change |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 1,980,000 | $365K | No change |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | 1,732,500 | $354K | New |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 1,212,065 | $351K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 1,131,592 | $341K | No change |
| Colombier Acquisition - 29 | *W EXP 11/24/202 | 423,634 | $339K | No change |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 280,000 | $324K | New |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 | 1,099,999 | $319K | No change |
| SKGRW SK Growth Opportunities -29 | *W EXP 06/28/202 | 473,002 | $307K | No change |
| OACCW Oaktree Acquisition III -31 | *W EXP 09/01/203 | 396,057 | $297K | Add +0.0% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 300,000 | $294K | Reduce -70.7% |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 300,000 | $264K | New |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 799,998 | $250K | No change |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 981,818 | $242K | No change |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 180,000 | $239K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 1,116,602 | $234K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 190 | $229K | No change |
| ANSCW Agriculture & Natural Solu-W | *W EXP 10/01/202 | 740,550 | $222K | No change |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 205,000 | $213K | No change |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 1,396,615 | $209K | No change |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 724,998 | $207K | New |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 744,526 | $206K | No change |
| NETDW Nabors Energy Transiti-CW | *W EXP 09/01/202 | 495,238 | $204K | No change |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 1,104,700 | $199K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 1,114,616 | $189K | No change |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 2,366,816 | $189K | No change |
| PGACR Pantages Capital Acquis-RT | RIGHT 11/15/2029 | 700,000 | $175K | New |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 990,000 | $168K | No change |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 1,063,637 | $168K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 1,115,848 | $162K | No change |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 836,589 | $161K | No change |
| NTWOW Newbury Street II Acq - 29 | *W EXP 06/01/203 | 727,364 | $160K | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 130,000 | $159K | New |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 850,000 | $153K | Add +0.0% |
| FGMCR FG Merger II Corp. | RIGHT 02/11/2030 | 792,000 | $150K | New |
| WLACW Willow Lane Acquisition - 29 | *W EXP 10/31/203 | 620,913 | $149K | New |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 150,000 | $148K | No change |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 1,118,532 | $146K | No change |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | 950,000 | $143K | No change |
| IROHR Iron Horse Acquisitions Righ | RIGHT 99/99/9999 | 455,257 | $137K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 1,134,417 | $136K | No change |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | 538,763 | $135K | No change |
| CHARR Charlton Aria Acquisi-Rights | RIGHT 12/31/2026 | 737,999 | $133K | No change |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 125,000 | $133K | New |
| BKHAR Black Hawk Acquisition C-RTS | RIGHT 06/20/2025 | 87,245 | $131K | No change |
| NOEMR CO2 Energy Transition Co.-RTS | RIGHT 10/15/2028 | 590,000 | $121K | No change |
| GATEW Marblegate Acquisition -CW22 | *W EXP 08/31/202 | 750,002 | $120K | Reduce -45.7% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 120,000 | $117K | No change |
| TDACW Translational Dev -A -CW26 | *W EXP 12/18/202 | 742,497 | $116K | New |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | 500,000 | $115K | New |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 | 649,999 | $113K | New |
| BSIIW Black Spade Acquisition -30 | *W EXP 02/15/202 | 487,753 | $107K | No change |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 105,000 | $102K | No change |
| DTSQR DT Cloud Star Acquisition Co. | RIGHT 07/09/2029 | 589,854 | $93K | No change |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 494,096 | $92K | No change |
| YOTAR Yotta Acquisition Corp. - RTS | RIGHT 03/15/2027 | 541,763 | $87K | No change |
| HCVIW Hennessy Capital Inv A -CW27 | *W EXP 99/99/999 | 558,924 | $84K | No change |
| USA RARE EARTH INC | *W EXP 03/13/203 | 120,489 | $81K | New |
| RDACR Rising Dragon Acquisition Co. | RIGHT 11/15/2028 | 491,982 | $79K | No change |
| FVNNR Future Vision II Acquisi-RTS | RIGHT 06/29/2029 | 489,295 | $78K | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 85,000 | $78K | No change |
| ATMVR Alphavest Acquisition Co.-RT | RIGHT 01/22/2026 | 344,586 | $76K | No change |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 542,398 | $73K | No change |
| CAPNR Cayson Acquisition Corp. | RIGHT 99/99/9999 | 472,387 | $73K | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 60,000 | $73K | New |
| HSPTR Horizon Space Acquisition II | RIGHT 03/30/2026 | 550,000 | $72K | No change |
| CLRRF Climaterock -RTS | RIGHT 10/31/2028 | 389,095 | $70K | No change |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 535,136 | $70K | No change |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 75,000 | $67K | No change |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | 500,000 | $65K | New |
| GBBKR Global Blockchain Acq - RTS | RIGHT 05/09/2027 | 654,647 | $65K | No change |
| RIBBR Ribbon Acquisition Corp. | RIGHT 12/31/2026 | 250,000 | $63K | New |
| NOEMW CO2 Energy Transition -28 | *W EXP 08/17/202 | 590,000 | $60K | New |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | 741,123 | $59K | No change |
| JVSAR Jvspac Acquisition Corp.-RTS | RIGHT 11/26/2026 | 201,049 | $50K | No change |
| SVIRF Spring Valley Acquisit-Right | RIGHT 02/25/2026 | 459,084 | $48K | No change |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 744,772 | $48K | No change |
| ESHAR Esh Acquisition Corp. - Right | RIGHT 06/13/2028 | 523,991 | $45K | No change |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | 741,594 | $45K | No change |
| ISLWF Israel Acquisitions Corp.-28 | *W EXP 99/99/999 | 397,864 | $44K | No change |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 | 292,331 | $41K | No change |
| BOWNR Bowen Acquisition Corp.-RTS | RIGHT 99/99/9999 | 148,626 | $38K | No change |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 49,400 | $38K | No change |
| EMCRF Embrace Change Acq-Rights | RIGHT 10/25/2026 | 193,214 | $37K | No change |
| HSPRF Horizon Space Acquisition-RT | RIGHT 12/27/2024 | 246,133 | $36K | No change |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | 35,000 | $35K | New |
| ASPCR A Spac III Acquisition Corp. | RIGHT 01/02/2026 | 249,459 | $35K | New |
| MSSRF Metal SKY Star Acquisi-Right | RIGHT 12/31/2025 | 435,555 | $34K | No change |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | 148,621 | $31K | No change |
| YOTAW Yotta Acquisition Corp. -27 | *W EXP 03/15/202 | 541,763 | $30K | No change |
| SVIWF Spring Valley Acquisition-Aw | *W EXP 02/25/202 | 229,541 | $26K | No change |
| OAKUR Oak Woods Acquisition Cor-RT | RIGHT 03/23/2028 | 95,000 | $25K | No change |
| AIMWF Aimfinity Investment-CW27 | *W EXP 99/99/999 | 475,095 | $24K | Reduce -0.1% |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 99,076 | $23K | No change |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 201,748 | $22K | No change |
| DISTR Distoken Acquisition Corp. | RIGHT 99/99/9999 | 125,000 | $22K | No change |
| FORLW Four Leaf Acquisition Cor-28 | *W EXP 03/15/202 | 437,027 | $22K | No change |
| DMYYW DMY Squared Technology GR-27 | *W EXP 99/99/999 | 22,759 | $22K | No change |
| CHEB.WS Chenghe Acquisition II - 29 | *W EXP 05/30/203 | 416,975 | $21K | No change |
| GBBKW Global Blockchain Acq-CW27 | *W EXP 05/09/202 | 654,647 | $20K | No change |
| REEWF Cartesian Growth Corp. II -28 | *W EXP 07/12/202 | 256,173 | $18K | No change |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | 631,725 | $16K | Reduce -1.6% |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | 455,257 | $15K | No change |
| EUDAW 8I Acquisition 2 Corp. -CW22 | *W EXP 11/22/202 | 109,446 | $13K | Reduce -4.7% |
| CYCUW Cycurion Inc.-CW27 | *W EXP 02/13/203 | 334,374 | $13K | Reduce -21.0% |
| FOXXW 1OXX | *W EXP 09/26/202 | 77,522 | $11K | Reduce -22.4% |
| ANNAW Aleanna Inc. Class A - 29 | *W EXP 12/13/202 | 32,175 | $8K | Reduce -82.0% |
| EMCWF Embrace Change Acquisitio-26 | *W EXP 10/25/202 | 193,214 | $7K | No change |
| CLRWF Climaterock Class A -27 | *W EXP 99/99/999 | 194,547 | $6K | No change |
| IVAWF Investcorp India Acquisi -27 | *W EXP 06/01/202 | 288,058 | $6K | No change |
| RAINW Rain Enhancement-CW 29 | *W EXP 12/31/202 | 51,736 | $6K | New |
| MSSWF Metal SKY Star Acq -CW27 | *W EXP 03/31/202 | 435,555 | $5K | No change |
| HSPWF Horizon Space Acquisition-28 | *W EXP 12/27/202 | 246,133 | $4K | No change |
| ABLVW Able View Global Inc.-28 | *W EXP 08/18/202 | 162,214 | $4K | Reduce -5.6% |
| VSEEW Digital Health Acquist-CW23 | *W EXP 99/99/999 | 68,239 | $4K | Reduce -30.6% |
| KVAWF Keen Vision Acquisition C-28 | *W EXP 03/15/202 | 123,850 | $4K | No change |
| AITRR AI Transportation Acquis-RTS | RIGHT 09/01/2028 | 24,685 | $4K | No change |
| OAKUW Oak Woods Acquisition -28 | *W EXP 99/99/999 | 95,000 | $3K | No change |
| DISTW Distoken Acquisition Corp.-28 | *W EXP 11/30/202 | 125,000 | $3K | No change |
| XAGEW Alpha Healthcare Acquis-CW27 | *W EXP 07/12/202 | 61,133 | $2K | Reduce -17.8% |
| LVRWF Lavoro Ltd.-27 | *W EXP 02/27/202 | 16,799 | $1K | Reduce -65.3% |
| OIOWW Esgl Holdings Ltd.-28 | *W EXP 08/02/202 | 61,088 | $703 | Reduce -6.0% |
| RMCOW American Acq Class A -CW26 | *W EXP 10/31/202 | 41,097 | $621 | Reduce -0.5% |
| HOFVW Hall of Fame Resort -CW | *W EXP 07/01/202 | 108,363 | $282 | Reduce -16.7% |
| MKDWW MKD Tech Inc. -29 | *W EXP 06/10/202 | 24,451 | $281 | Reduce -56.6% |
| CDTTW Murphy Canyon Acq-CW27 | *W EXP 09/22/202 | 14,049 | $129 | Reduce -91.3% |
Total filed on the 13F, all lines: $4.1B.
Portfolio Sells Q4 2024 → Q1 2025
| EDR Endeavor Group Hold Class A | Sold out | 0.00% | −5.28 |
| HCP Hashicorp Inc. Class A | Sold out | 0.00% | −2.79 |
| ALTR Altair Engineering Inc. Class A | Sold out | 0.00% | −2.25 |
| ARCH Arch Resources Inc. | Sold out | 0.00% | −1.81 |
| INFN Infinera Corp. | Sold out | 0.00% | −1.61 |
| HTLF Heartland Financial USA Inc. | Sold out | 0.00% | −1.58 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −1.40 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −1.30 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −1.05 |
| SILV Silvercrest Metals Inc. | Sold out | 0.00% | −0.92 |
| GATO Gatos Silver Inc. | Sold out | 0.00% | −0.87 |
| ROIC Retail Opportunity Investmen | Sold out | 0.00% | −0.85 |
| CDMO Avid Bioservices Inc. | Sold out | 0.00% | −0.82 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.80 |
| MTTR Matterport Inc. | Sold out | 0.00% | −0.74 |
| BARNES GROUP INC | Sold out | 0.00% | −0.74 |
| NETD Nabors Energy Transition C-A | Reduce -77.1% | 0.23% | −0.71 |
| CCIR Cohen Circle Acquisitio Class A | Sold out | 0.00% | −0.61 |
| COLOMBIER ACQUISITION CORP | Reduce -87.2% | 0.08% | −0.59 |
| ALTM Arcadium Lithium PLC | Sold out | 0.00% | −0.59 |
| WLACU Willow Lane Acquisition Corp. | Sold out | 0.00% | −0.52 |
| PFC Premier Financial Corp. | Sold out | 0.00% | −0.47 |
| IBTX Independent Bank Group Inc. | Sold out | 0.00% | −0.46 |
| PGACU Pantages Capital Acquisition | Sold out | 0.00% | −0.30 |
| BEAG Bold Eagle Acquisition Cor-A | Reduce -26.8% | 0.92% | −0.26 |
| GSRT GSR III Acquisition Corp. | Reduce -29.5% | 0.64% | −0.23 |
| BOWN Bowen Acquisition Corp. | Sold out | 0.00% | −0.22 |
| ALDF Aldel Financial II Inc. | Reduce -26.8% | 0.73% | −0.22 |
| PLAOF Patria Latin American Opport | Sold out | 0.00% | −0.21 |
| CFB Crossfirst Bankshares Inc. | Sold out | 0.00% | −0.20 |
| PSN Parsons Corp. | Reduce -58.3% | 0.08% | −0.20 |
| XEXGX Eaton Vance Tax-Managed Glob | Reduce -45.7% | 0.23% | −0.19 |
| OACC Oaktree Acquisition Corp. I-A | Reduce -26.7% | 0.65% | −0.19 |
| RVNC Revance Therapeutics Inc. | Sold out | 0.00% | −0.18 |
| NTWO Newbury Street II Ac Class A | Reduce -30.0% | 0.45% | −0.17 |
| MLAC Mountain Lake Acquisition-A | Reduce -22.5% | 0.67% | −0.16 |
| BSTZ BlackRock Sci & Tech TRM TR | Reduce -64.3% | 0.07% | −0.16 |
| LYFT LYFT Inc. Class A | Sold out | 0.00% | −0.16 |
| W Wayfair Inc. Class A | Reduce -8.8% | 0.32% | −0.15 |
| FACT Fact II Acquisition Corp. | Reduce -24.8% | 0.56% | −0.15 |
| DRDB Roman DBDR Acquisition Corp. | Reduce -25.0% | 0.53% | −0.15 |
| XAODX Abrdn Total Dynamic Dividend | Reduce -89.7% | 0.02% | −0.14 |
| TDAC Translational Development Ac | Reduce -25.9% | 0.48% | −0.14 |
| BDJ BlackRock Enhanced Eqty DVD | Reduce -72.8% | 0.06% | −0.14 |
| XGDVX Gabelli Dividend & Income TR | Reduce -69.2% | 0.06% | −0.14 |
| JACS Jackson Acquisition Co. Class A | Reduce -22.5% | 0.54% | −0.13 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.13 |
| PLMJF Plum Acquisition Corp. III | Sold out | 0.00% | −0.13 |
| SIRI Sirius XM Holdings Inc. | Sold out | 0.00% | −0.12 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.12 |
Portfolio Buys Q4 2024 → Q1 2025
| BECN Beacon Roofing Supply Inc. | New | 1.62% | +1.62 |
| DFS Discover Financial Services | Add +84.8% | 3.40% | +1.54 |
| HEES H&E Equipment Services Inc. | New | 1.46% | +1.46 |
| HES Hess Corp. | Add +20.6% | 4.34% | +1.46 |
| ITCI Intra-Cellular Therapies Inc. | New | 1.45% | +1.45 |
| PYCR Paycor HCM Inc. | New | 1.43% | +1.43 |
| IPG Interpublic Group of Cos Inc. | Add +158.5% | 2.29% | +1.40 |
| DESP Despegar.com Corp. | Add +2701.9% | 1.41% | +1.36 |
| ALE Allete Inc. | Add +39.7% | 3.39% | +1.08 |
| TGI Triumph Group Inc. | New | 0.99% | +0.99 |
| PLYA Playa Hotels & Resorts NV | New | 0.92% | +0.92 |
| AACBU Artius II Acquisition Inc. | New | 0.87% | +0.87 |
| RAC.U Rithm Acquisition Corp. | New | 0.84% | +0.84 |
| K Kellanova | Add +55.8% | 2.06% | +0.80 |
| JWN Nordstrom Inc. | Add +182.2% | 1.20% | +0.79 |
| FERAU Fifth Era Acquisition Corp. I | New | 0.78% | +0.78 |
| DNB Dun & Bradstreet Holdings Inc. | New | 0.76% | +0.76 |
| SPR Spirit Aerosystems Hold Class A | Add +73.9% | 1.64% | +0.74 |
| PDCO Patterson Cos Inc. | Add +130.7% | 1.25% | +0.73 |
| EVRI Everi Holdings Inc. | Add +55.3% | 1.74% | +0.67 |
| SVCCU Stellar V Capital Corp. | New | 0.66% | +0.66 |
| NHICU Newhold Investment Corp. III | New | 0.62% | +0.62 |
| ATIIU Archimedes Tech Spac Partner | New | 0.57% | +0.57 |
| LOKVU Live Oak Acquisition Corp. V | New | 0.57% | +0.57 |
| CHX Championx Corp. | Add +3.4% | 3.77% | +0.57 |
| ONEN One Nuclear Energy Inc. | New | 0.56% | +0.56 |
| KFII K&F Growth Acquisition Cor-A | New | 0.54% | +0.54 |
| CEPO Cantor Equity Partners I-A | New | 0.54% | +0.54 |
| AMED Amedisys Inc. | Add +22.4% | 2.33% | +0.53 |
| ATSG Air Transport Services Group | Add +74.7% | 1.15% | +0.53 |
| PTVE Pactiv Evergreen Inc. | Add +157.7% | 0.82% | +0.52 |
| CMRX Chimerix Inc. | New | 0.52% | +0.52 |
| RDUS Radius Recycling Inc. Class A | New | 0.51% | +0.51 |
| ACCD Accolade Inc. | New | 0.51% | +0.51 |
| JNPR Juniper Networks Inc. | Add +92.0% | 1.00% | +0.48 |
| SWI Solarwinds Corp. | New | 0.45% | +0.45 |
| GSHRU Gesher Acquisition Corp. II | New | 0.44% | +0.44 |
| WBA Walgreens Boots Alliance Inc. | New | 0.43% | +0.43 |
| PLMK Plum Acquisition Corp. IV | Add +428.7% | 0.42% | +0.42 |
| BROOKLINE BANCORP INC | Add +220.0% | 0.61% | +0.41 |
| PRA Proassurance Corp. | New | 0.36% | +0.36 |
| ML Moneylion Inc. | Add +126.2% | 0.61% | +0.35 |
| FG MERGER II CORP | New | 0.33% | +0.33 |
| GWRE Guidewire Software Inc. | New | 0.32% | +0.32 |
| LBRDK Liberty Broadband-C | New | 0.31% | +0.31 |
| JAZZ Jazz Pharmaceuticals PLC | Add +115.5% | 0.48% | +0.26 |
| NOEM CO2 Energy Transition Corp. | New | 0.26% | +0.26 |
| PGAC Pantages Capital Acquisition | New | 0.24% | +0.24 |
| FYBR Frontier Communications Pare | Add +22.9% | 0.96% | +0.23 |
| QSEAU Quartzsea Acquisition Corp. | New | 0.22% | +0.22 |
Options Activity Q4 2024 → Q1 2025
| MSTR Strategy Inc. | put | Reduce -71.1% | 270,800 | $76.0M |
| SE Sea Ltd.-ADR | put | Sold out | 703,900 | $74.7Mbefore exit |
| F Ford Motor Co. | put | New | 3,515,700 | $34.6M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | Add +2.4% | 50,745,000 | $121.5M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +69.3% | 101,425,000 | $98.8M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Add +30.0% | 86,660,000 | $86.7M |
| MAKEMYTRIP LIMITED (MMYT 0 02/15/28) | NOTE 2/1 · principal | Add +14.1% | 32,425,000 | $82.0M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Sold out | 75,000,000 | $74.5Mbefore exit |
| MICROSTRATEGY INC (MSTR 0 02/15/27) | NOTE 2/1 · principal | Sold out | 30,000,000 | $61.9Mbefore exit |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Add +80.8% | 43,787,000 | $60.1M |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | Add +839.9% | 56,460,000 | $58.9M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Add +717.5% | 65,884,000 | $57.9M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | New | 35,000,000 | $48.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Add +519.4% | 42,300,000 | $42.2M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Add +214.4% | 44,012,000 | $41.6M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 800,000 | $40.0Mbefore exit |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Add +93.5% | 40,975,000 | $39.5M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | New | 38,075,000 | $38.3M |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | New | 39,350,000 | $38.2M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Add +60.0% | 33,050,000 | $37.1M |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Sold out | 42,745,000 | $36.0Mbefore exit |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | Add +189.0% | 8,671,000 | $35.9M |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | Reduce -14.3% | 29,975,000 | $34.7M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +111.9% | 37,500,000 | $33.6M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Sold out | 34,660,000 | $33.2Mbefore exit |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +27.5% | 33,455,000 | $33.1M |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | Sold out | 26,275,000 | $31.9Mbefore exit |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Reduce -35.7% | 31,545,000 | $31.5M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Sold out | 31,125,000 | $31.1Mbefore exit |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Add +51.4% | 26,500,000 | $30.2M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +102.0% | 407,000 | $29.9M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | New | 31,127,000 | $28.9M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Reduce -23.8% | 32,600,000 | $28.2M |
| BURLINGTON STORES INC (BURL 2.25 04/15/25) | NOTE 2.250% 4/1 · principal | New | 23,932,000 | $26.2M |
| BITDEER TECHNOLOGIES GRP (BTDR 8.5 08/15/29) | NOTE 8.500% 8/1 · principal | Sold out | 8,861,000 | $24.7Mbefore exit |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | Reduce -33.4% | 27,944,000 | $23.7M |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | Sold out | 22,400,000 | $22.7Mbefore exit |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Add +12687.5% | 20,460,000 | $21.8M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Add +694.4% | 20,020,000 | $21.5M |
| ACCOLADE INC (ACCD 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | New | 21,750,000 | $21.4M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Sold out | 16,300,000 | $20.7Mbefore exit |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | New | 19,550,000 | $20.3M |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | New | 20,275,000 | $20.3M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Reduce -6.2% | 22,609,000 | $20.1M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Sold out | 19,125,000 | $19.7Mbefore exit |
| REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) | NOTE 1.750% 2/1 · principal | Sold out | 19,832,000 | $19.0Mbefore exit |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | Sold out | 19,900,000 | $18.9Mbefore exit |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Reduce -40.6% | 19,765,000 | $18.0M |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | New | 17,600,000 | $17.5M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Sold out | 15,570,000 | $16.8Mbefore exit |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Add +41.5% | 19,185,000 | $16.4M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Sold out | 15,500,000 | $16.0Mbefore exit |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Sold out | 17,725,000 | $15.8Mbefore exit |
Showing the first 50 of 163.
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 | 335 | $5.8B | EA, AES, WBS, NSC, PEN |
| Q1 2026 | 311 | $5.1B | EA, PEN, QRVO, GTLS, NSC |
| Q4 2025 | 269 | $3.7B | QRVO, TECK, NSC, CYBR, AL |
| Q3 2025 | 234 | $2.8B | IPG, ALE, SAND, GTLS, K |
| Q2 2025 | 209 | $2.7B | HES, ALE, CHX, IPG, K |
| Q1 2025 | 209 | $2.3B | HES, CHX, DFS, ALE, ESGR |
| Q4 2024 | 238 | $2.4B | EDR, CHX, HES, HCP, ALE |
| Q3 2024 | 262 | $2.4B | EDR, SWN, CHX, AXONICS INC, HES |
| Q2 2024 | 280 | $2.2B | ETRN, SWN, AXONICS INC, EDR, CHX |
| Q1 2024 | 281 | $1.9B | SWN, ETRN, AXONICS INC, PXD, MGRC |