Artisan Partners Limited Partnership

Name: Artisan Partners Limited Partnership 13F holdings, Q1 2025
Creator: Artisan Partners Limited Partnership
Published: 2025-05-14

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

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Artisan Partners Limited Partnership reported 338 stock positions worth $61.6 billion. Its top holding was Arch Capital (ACGL) at 3.7% of the portfolio, followed by Argenx SE - ADR (ARGX, 2.7%) and Elevance Health (ELV, 2.4%). Compared with Q4 2024, it opened 28 new positions, sold out of 39, added to 154 and reduced 149. The biggest buy was a new position in Baker Hughes (BKR) and the biggest sale an exit from Quanta Services (PWR).

Most Recent 13F: Q2 2026
Location: Milwaukee, WI
CIK: 0001466153
Portfolio Value: $61.6B (Q1 2025)
SEC Filing: 0000950123-25-005057 ↗ filed May 14, 2025

Holdings Value

Holdings 338 stocks · $61.6B


ACGL Arch Capital Group Ltd.	3.65%	23,424,340	$2.3B	Add +0.1%
ARGX Argenx SE - ADR	2.67%	2,785,890	$1.6B	Reduce -9.3%
ELV Elevance Health Inc.	2.36%	3,350,780	$1.5B	Add +16.5%
SCHW Schwab (charles) Corp.	2.25%	17,749,859	$1.4B	Reduce -2.1%
BRK.B Berkshire Hathaway Inc. Class B	2.23%	2,581,053	$1.4B	Reduce -2.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	2.13%	15,663,670	$1.3B	Reduce -1.9%
META Meta Platforms Inc. Class A	1.98%	2,113,107	$1.2B	Reduce -19.3%
AXP American Express Co.	1.96%	4,487,434	$1.2B	Add +1.1%
GRMN Garmin Ltd.	1.95%	5,535,989	$1.2B	Reduce -1.9%
NFLX Netflix Inc.	1.94%	1,285,704	$1.2B	Reduce -0.5%
WTW Willis Towers Watson PLC	1.93%	3,516,528	$1.2B	Add +0.6%
GOOGL Alphabet Inc. Class A	1.87%	7,469,940	$1.2B	Reduce -20.7%
PGR Progressive Corp.	1.79%	3,895,835	$1.1B	Reduce -1.9%
BSX Boston Scientific Corp.	1.58%	9,659,288	$974.4M	Reduce -14.0%
SU Suncor Energy Inc.	1.53%	24,344,423	$942.8M	Add +0.2%
AON Aon PLC Class A	1.38%	2,135,832	$852.4M	Add +3.3%
MRSH Marsh & McLennan Cos	1.35%	3,411,336	$832.5M	Reduce -2.1%
C Citigroup Inc.	1.33%	11,535,423	$818.9M	Add +2.1%
PYPL PayPal Holdings Inc.	1.25%	11,808,017	$770.5M	Add +51.3%
ICLR Icon PLC	1.22%	4,290,924	$750.9M	Add +2097.2%
SHOP Shopify Inc. Class A	1.21%	7,802,205	$745.0M	Add +6.4%
BKR Baker Hughes Co.	1.18%	16,510,623	$725.6M	New
ASND Ascendis Pharma A/S	1.08%	4,256,627	$663.4M	Reduce -4.3%
SE Sea Ltd.-ADR	1.03%	4,863,297	$634.6M	Reduce -5.0%
SNOW Snowflake Inc.	1.02%	4,299,230	$628.4M	Add +669.7%
AMZN Amazon.com Inc.	0.98%	3,179,238	$604.9M	Reduce -31.2%
NOK Nokia Corp.-Spon ADR	0.91%	106,179,464	$559.6M	Add +1.2%
TSM Taiwan Semiconductor-SP ADR	0.89%	3,292,466	$546.5M	Reduce -41.3%
AAPL Apple Inc.	0.87%	2,410,629	$535.5M	Add +0.8%
ORCL Oracle Corp.	0.86%	3,813,163	$533.1M	Add +6.8%
LRCX Lam Research Corp.	0.86%	7,274,412	$528.8M	Add +40.1%
CBRE CBRE Group Inc. Class A	0.82%	3,876,128	$506.9M	Reduce -4.3%
TEAM Atlassian Corp. Class A	0.80%	2,332,587	$495.0M	Reduce -19.1%
WST West Pharmaceutical Services	0.80%	2,195,483	$491.5M	Reduce -29.4%
XYL Xylem Inc.	0.80%	4,112,689	$491.3M	Reduce -4.6%
LIN Linde PLC	0.77%	1,021,991	$475.9M	Add +10.4%
HSIC Henry Schein Inc.	0.71%	6,406,551	$438.8M	Reduce -1.9%
TYL Tyler Technologies Inc.	0.69%	736,782	$428.4M	Reduce -20.5%
MELI MercadoLibre Inc.	0.69%	218,780	$426.8M	Add +34.9%
DHR Danaher Corp.	0.69%	2,060,077	$422.3M	Add +0.8%
BABA Alibaba Group Holding-SP ADR	0.68%	3,179,159	$420.4M	Add +2717.9%
GEV GE Vernova Inc.	0.68%	1,372,894	$419.1M	Add +96.1%
CNH CNH Industrial NV	0.64%	32,375,349	$397.6M	Add +1.3%
LSCC Lattice Semiconductor Corp.	0.62%	7,330,724	$384.5M	Reduce -14.7%
ETN Eaton Corp. PLC	0.59%	1,336,936	$363.4M	Add +11.4%
GWRE Guidewire Software Inc.	0.59%	1,934,714	$362.5M	Add +37.4%
LUV Southwest Airlines Co.	0.58%	10,665,645	$358.2M	Reduce -2.2%
ARM Arm Holdings PLC-ADR	0.58%	3,338,996	$356.6M	Add +25.9%
SPOT Spotify Technology SA	0.58%	645,107	$354.8M	Reduce -50.5%
SPGI S&P Global Inc.	0.57%	697,454	$354.4M	Add +0.4%
VRTX Vertex Pharmaceuticals Inc.	0.57%	719,131	$348.6M	Add +8.2%
MRVL Marvell Technology Inc.	0.55%	5,494,392	$338.3M	Add +34.0%
ST Sensata Technologies Holdplc	0.54%	13,742,760	$333.5M	Add +13.8%
LYV Live Nation Entertainment Inc.	0.54%	2,528,148	$330.1M	Reduce -7.5%
V Visa Inc. Class A	0.52%	923,301	$323.6M	Reduce -6.1%
WMB Williams Cos Inc.	0.49%	5,004,248	$299.1M	Add +4089.9%
IRTC Irhythm Holdings Inc.	0.48%	2,814,280	$294.6M	Add +1.9%
AMD Advanced Micro Devices	0.48%	2,850,754	$292.9M	Reduce -54.9%
NVDA Nvidia Corp.	0.47%	2,648,992	$287.1M	Reduce -8.7%
VEEV Veeva Systems Inc. Class A	0.46%	1,226,391	$284.1M	Reduce -13.5%
FWONK Liberty Media Corp. Class C	0.45%	3,060,132	$275.4M	Reduce -12.6%
TW Tradeweb Markets Inc. Class A	0.44%	1,831,939	$272.0M	Reduce -15.3%
INSM Insmed Inc.	0.40%	3,217,268	$245.4M	Add +2.9%
MTSI Macom Technology Solutions H	0.40%	2,436,585	$244.6M	Reduce -10.2%
DASH DoorDash Inc. Class A	0.39%	1,304,223	$238.4M	Add +7.5%
FTAI Ftai Aviation Ltd.	0.38%	2,121,542	$235.6M	New
TWST Twist Bioscience Corp.	0.37%	5,851,374	$229.7M	Reduce -0.7%
CCC CCC Intelligent Solutions Ho	0.37%	25,063,607	$226.3M	Add +7.3%
BFAM Bright Horizons Family Solut	0.34%	1,628,477	$206.9M	Add +97.2%
TME Tencent Music Entertainm-ADR	0.33%	14,024,758	$202.1M	Add +40.8%
PM Philip Morris International	0.32%	1,254,819	$199.2M	Add +0.2%
MPWR Monolithic Power Systems Inc.	0.32%	341,854	$198.3M	Reduce -4.7%
CME Cme Group Inc.	0.32%	738,940	$196.0M	Add +40.8%
CARR Carrier Global Corp.	0.31%	3,027,934	$192.0M	Add +24.5%
AZO AutoZone Inc.	0.31%	50,335	$191.9M	Reduce -5.3%
MSFT Microsoft Corp.	0.31%	503,520	$189.0M	Reduce -7.7%
HUM Humana Inc.	0.31%	712,177	$188.4M	Add +5.7%
USFD US Foods Holding Corp.	0.30%	2,852,669	$186.7M	Add +12.5%
SAIA Saia Inc.	0.30%	532,949	$186.2M	Reduce -27.1%
NKE Nike Inc. Class B	0.30%	2,920,232	$185.4M	Add +56.7%
PODD Insulet Corp.	0.30%	704,439	$185.0M	Reduce -8.5%
VIV Telefonica Brasil-ADR	0.30%	21,188,805	$184.8M	Reduce -0.9%
MMYT Makemytrip Ltd.	0.30%	1,880,366	$184.3M	Reduce -0.4%
P Everpure Inc. Class A filed as PURE STORAGE INC	0.30%	4,161,724	$184.2M	Add +21.2%
ECL Ecolab Inc.	0.30%	719,934	$182.5M	Reduce -43.6%
GTLB Gitlab Inc. Class A	0.29%	3,865,892	$181.7M	Reduce -4.2%
BAX Baxter International Inc.	0.29%	5,203,716	$178.1M	Reduce -0.7%
HUBS HubSpot Inc.	0.29%	311,051	$177.7M	Reduce -8.9%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	0.27%	16,151,656	$165.4M	Reduce -51.6%
WFC Wells Fargo & Co.	0.27%	2,296,213	$164.8M	Add +37.8%
CMG Chipotle Mexican Grill Inc.	0.27%	3,273,658	$164.4M	Reduce -13.8%
UPS United Parcel Service Class B	0.26%	1,479,259	$162.7M	Add +18.7%
NICE Nice Ltd. - Spon ADR	0.26%	1,055,352	$162.7M	Reduce -18.0%
CRWD CrowdStrike Holdings Inc. Class A	0.26%	460,804	$162.5M	Reduce -9.5%
CRM Salesforce Inc.	0.26%	597,877	$160.4M	New
EOG EOG Resources Inc.	0.26%	1,241,443	$159.2M	Add +0.7%
GRAB Grab Holdings Ltd. Class A	0.26%	35,134,998	$159.2M	Add +0.9%
APG Api Group Corp.	0.25%	4,381,142	$156.7M	Add +25.7%
VCYT Veracyte Inc.	0.25%	5,239,711	$155.4M	Reduce -20.6%
CMCSA Comcast Corp. Class A	0.25%	4,155,756	$153.3M	Add +23.9%
SNPS Synopsys Inc.	0.24%	351,760	$150.9M	Reduce -14.9%
ABNB Airbnb Inc. Class A	0.24%	1,262,340	$150.8M	Reduce -0.2%
GE General Electric filed as GE AEROSPACE	0.24%	748,211	$149.8M	Add +14.8%
ZS Zscaler Inc.	0.24%	743,907	$147.6M	Reduce -14.4%
FISV Fiserv Inc.	0.23%	630,965	$139.3M	Add +2.0%
GOOG Alphabet Inc. Class C	0.22%	880,401	$137.5M	Reduce -8.2%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.22%	3,281,801	$137.2M	Add +0.7%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.22%	393,494	$135.8M	Add +8.9%
CI The Cigna Group	0.22%	410,542	$135.1M	Add +6.8%
DECK Deckers Outdoor Corp.	0.22%	1,198,453	$134.0M	Add +9.4%
KO The Coca-Cola Co.	0.21%	1,849,537	$132.5M	Reduce -13.8%
GS Goldman Sachs Group Inc.	0.21%	238,761	$130.4M	Add +0.5%
HOOD Robinhood Markets Inc. Class A	0.21%	3,109,308	$129.4M	Reduce -24.3%
LPLA LPL Financial Holdings Inc.	0.21%	389,730	$127.5M	Reduce -6.7%
DG Dollar General Corp.	0.21%	1,443,824	$127.0M	Add +26.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.20%	3,012,088	$125.7M	Add +21.6%
CDNS Cadence Design SYS Inc.	0.20%	493,457	$125.5M	Add +17.4%
DXCM Dexcom Inc.	0.20%	1,814,176	$123.9M	Reduce -2.1%
TTWO Take-Two Interactive Softwre	0.20%	594,688	$123.2M	Add +2.4%
HDB HDFC Bank Ltd.-ADR	0.20%	1,829,319	$121.5M	Reduce -1.6%
TXN Texas Instruments Inc.	0.19%	666,837	$119.8M	Add +6.3%
MRK Merck & Co. Inc.	0.19%	1,327,248	$119.1M	Add +25.9%
FANG Diamondback Energy Inc.	0.19%	721,200	$115.3M	Add +57.5%
USB US Bancorp	0.19%	2,716,920	$114.7M	Add +6.8%
BKNG Booking Holdings Inc.	0.18%	24,440	$112.6M	Reduce -0.3%
GDDY GoDaddy Inc. Class A	0.18%	623,508	$112.3M	Reduce -12.5%
MDT Medtronic PLC	0.18%	1,227,750	$110.3M	Add +1.9%
PSN Parsons Corp.	0.18%	1,835,335	$108.7M	Reduce -11.3%
PNC PNC Financial Services Group	0.17%	598,154	$105.1M	Add +11.3%
WNS WNS Holdings Ltd. filed as WNS HLDGS LTD	0.17%	1,699,689	$104.5M	Reduce -17.1%
ADI Analog Devices Inc.	0.17%	517,928	$104.5M	Add +64.5%
PDD PDD Holdings Inc.	0.17%	875,038	$103.6M	Reduce -16.0%
BZ Kanzhun Ltd. - ADR	0.17%	5,386,691	$103.3M	Add +20.1%
NTNX Nutanix Inc. Class A	0.17%	1,468,089	$102.5M	Reduce -2.0%
IR Ingersoll-Rand Inc.	0.17%	1,280,605	$102.5M	Reduce -19.6%
HUBB Hubbell Inc.	0.17%	309,338	$102.4M	Reduce -45.0%
COHR Coherent Corp.	0.17%	1,569,406	$101.9M	Add +8.1%
NXPI NXP Semiconductors NV	0.16%	516,758	$98.2M	Add +65.5%
SBUX Starbucks Corp.	0.16%	1,000,008	$98.1M	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.15%	947,117	$93.5M	Add +6.8%
CAE Cae Inc.	0.15%	3,766,926	$92.6M	Reduce -21.8%
WING Wingstop Inc.	0.15%	402,786	$90.9M	Add +49.9%
HWM Howmet Aerospace Inc.	0.14%	675,057	$87.6M	New
G Genpact Ltd.	0.14%	1,734,373	$87.4M	Add +0.9%
IOT Samsara Inc. Class A	0.14%	2,267,959	$86.9M	Add +11.4%
DKS Dick's Sporting Goods Inc.	0.14%	429,482	$86.6M	Add +5.4%
MS Morgan Stanley	0.14%	735,154	$85.8M	Reduce -17.2%
VIK Viking Holdings Ltd.	0.14%	2,154,199	$85.6M	New
KMI Kinder Morgan Inc.	0.14%	2,982,622	$85.1M	Reduce -6.8%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC	0.14%	4,210,902	$84.6M	Add +20.2%
RBLX Roblox Corp. Class A	0.14%	1,447,545	$84.4M	New
ISRG Intuitive Surgical Inc.	0.13%	167,132	$82.8M	Add +6.8%
FCNCA First Citizens Bcshs Class A	0.13%	44,582	$82.7M	Reduce -10.8%
VRSK Verisk Analytics Inc.	0.13%	275,370	$82.0M	Reduce -42.7%
ANET Arista Networks Inc.	0.13%	1,055,953	$81.8M	Reduce -78.0%
UHAL.B U-Haul Holding Co.-Non Voting	0.13%	1,336,377	$79.1M	Add +0.9%
ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD	0.13%	287,400	$78.2M	Add +2.8%
PEN Penumbra Inc.	0.13%	290,969	$77.8M	Reduce -1.7%
OGE Oge Energy Corp.	0.13%	1,691,574	$77.7M	Add +0.9%
LAMR Lamar Advertising Co. Class A	0.13%	683,215	$77.7M	Add +0.9%
BUD Anheuser-Busch Inbev-SPN ADR	0.13%	1,255,397	$77.3M	Add +10.6%
CCI Crown Castle Inc.	0.12%	733,569	$76.5M	New
EXPE Expedia Group Inc.	0.12%	446,751	$75.1M	Add +0.9%
JBTM JBT Marel Corp.	0.12%	612,374	$74.8M	Add +16.4%
VNT Vontier Corp.	0.12%	2,250,702	$73.9M	Add +0.9%
KR Kroger Co.	0.12%	1,090,436	$73.8M	Add +0.9%
CWAN Clearwater Analytics HDS-A	0.12%	2,743,255	$73.5M	Reduce -25.3%
PRMB Primo Brands Corp.	0.12%	2,050,887	$72.8M	New
HALO Halozyme Therapeutics Inc.	0.12%	1,138,651	$72.7M	Reduce -17.1%
GL Globe Life Inc.	0.12%	543,856	$71.6M	Reduce -20.0%
SPXC SPX Technologies Inc.	0.12%	551,319	$71.0M	Reduce -13.3%
MOD Modine Manufacturing Co.	0.11%	917,467	$70.4M	Add +59.5%
ARES Ares Management Corp. Class A	0.11%	478,081	$70.1M	Reduce -37.4%
TDG Transdigm Group Inc.	0.11%	50,112	$69.3M	Add +1039.4%
MSI Motorola Solutions Inc.	0.11%	154,794	$67.8M	Reduce -5.0%
EQIX Equinix Inc.	0.11%	82,752	$67.5M	Reduce -35.1%
NDAQ Nasdaq Inc.	0.11%	883,808	$67.0M	Reduce -35.1%
FN Fabrinet	0.11%	330,237	$65.2M	Reduce -14.8%
LNT Alliant Energy Corp.	0.11%	1,010,838	$65.0M	Add +0.8%
WAT Waters Corp.	0.11%	175,894	$64.8M	Reduce -9.5%
TSN Tyson Foods Inc. Class A	0.10%	1,012,736	$64.6M	Add +0.9%
CRBG Corebridge Financial Inc.	0.10%	2,035,368	$64.3M	Add +0.9%
FERG Ferguson Enterprises Inc.	0.10%	400,834	$64.2M	Reduce -14.2%
AIT Applied Industrial Tech Inc.	0.10%	278,840	$62.8M	Add +16.7%
INTA Intapp Inc.	0.10%	1,061,366	$62.0M	Add +17.0%
FLEX Flex Ltd.	0.10%	1,849,358	$61.2M	Reduce -20.9%
INSP Inspire Medical Systems Inc.	0.10%	373,394	$59.5M	Reduce -17.1%
PCOR Procore Technologies Inc.	0.10%	900,542	$59.5M	Reduce -2.5%
NVR NVR Inc.	0.10%	8,095	$58.6M	Reduce -14.1%
MTN Vail Resorts Inc.	0.09%	362,924	$58.1M	Add +0.9%
LKQ LKQ Corp.	0.09%	1,364,820	$58.1M	Reduce -1.1%
COCO The Vita Coco Co. Inc.	0.09%	1,864,937	$57.2M	Add +24.1%
CIGI Colliers Intl GR-Subord Vot	0.09%	469,322	$56.9M	Add +7.5%
KRNT Kornit Digital Ltd.	0.09%	2,972,823	$56.7M	Reduce -10.8%
OTIS Otis Worldwide Corp.	0.09%	549,319	$56.7M	Add +0.9%
NWSA News Corp. Class A	0.09%	2,072,066	$56.4M	Add +0.9%
GPC Genuine Parts Co.	0.09%	469,972	$56.0M	Add +174.8%
PR Permian Resources Corp. Class A	0.09%	3,996,229	$55.3M	New
ARIS WATER SOLUTIONS INC-A	0.09%	1,719,534	$55.1M	New
AXON Axon Enterprise Inc.	0.09%	104,244	$54.8M	Add +33.5%
PRCT Procept Biorobotics Corp.	0.09%	939,459	$54.7M	Add +120.7%
SITE Siteone Landscape Supply Inc.	0.09%	447,986	$54.4M	Add +21.7%
NET Cloudflare Inc. Class A	0.09%	480,003	$54.1M	New
ALKS Alkermes PLC	0.09%	1,636,269	$54.0M	Reduce -17.7%
NNN NNN REIT Inc.	0.09%	1,264,483	$53.9M	Add +0.9%
WMG Warner Music Group Corp. Class A	0.09%	1,715,029	$53.8M	Add +10.4%
OMC Omnicom Group	0.09%	644,791	$53.5M	Add +15.9%
NOV Nov Inc.	0.09%	3,508,450	$53.4M	Add +0.9%
EXPD Expeditors Intl Wash Inc.	0.09%	441,816	$53.1M	Add +0.9%
CNC Centene Corp.	0.08%	860,185	$52.2M	Add +0.9%
RGEN Repligen Corp.	0.08%	403,650	$51.4M	Reduce -2.4%
VSEC Vse Corp.	0.08%	425,841	$51.1M	Add +27.8%
MO Altria Group Inc.	0.08%	841,749	$50.5M	Reduce -48.0%
WK Workiva Inc.	0.08%	658,523	$50.0M	Add +12.6%
MASI Masimo Corp.	0.08%	299,023	$49.8M	New
ESTC Elastic NV	0.08%	548,731	$48.9M	Add +13.0%
RACE Ferrari NV	0.08%	111,147	$47.6M	Add +0.7%
ABG Asbury Automotive Group	0.08%	212,207	$46.9M	Add +0.9%
STVN Stevanato Group SPA	0.08%	2,278,459	$46.5M	Reduce -3.3%
NVT Nvent Electric PLC	0.08%	886,660	$46.5M	Add +40.9%
RDWR Radware Ltd.	0.08%	2,142,129	$46.3M	Add +1.4%
MDGL Madrigal Pharmaceuticals Inc.	0.07%	137,738	$45.6M	Reduce -33.6%
PSA Public Storage	0.07%	151,153	$45.2M	Add +0.9%
RXST Rxsight Inc.	0.07%	1,767,523	$44.6M	Add +13.9%
SYY Sysco Corp.	0.07%	587,026	$44.1M	Add +0.9%
AER Aercap Holdings NV	0.07%	427,787	$43.7M	Reduce -17.9%
CABO Cable One Inc.	0.07%	160,715	$42.7M	Add +18.3%
PPLI People Inc. filed as IAC INC	0.07%	916,713	$42.1M	Add +0.9%
AGYS Agilysys Inc.	0.07%	576,531	$41.8M	Add +8.9%
CFLT Confluent Inc. Class A	0.07%	1,758,434	$41.2M	Add +70.2%
LNTH Lantheus Holdings Inc.	0.07%	421,538	$41.1M	Add +25.0%
NOVT Novanta Inc.	0.07%	318,078	$40.7M	Reduce -30.1%
CHKP Check Point Software Tech	0.06%	174,189	$39.7M	Reduce -17.8%
EA Electronic Arts Inc.	0.06%	271,885	$39.3M	Reduce -73.6%
S Sentinelone Inc. Class A	0.06%	2,154,865	$39.2M	New
PII Polaris Inc.	0.06%	955,415	$39.1M	Add +6.0%
CROX Crocs Inc.	0.06%	367,902	$39.1M	Reduce -2.3%
LEGN Legend Biotech Corp.-ADR	0.06%	1,131,768	$38.4M	Reduce -24.8%
HLNE Hamilton Lane Inc. Class A	0.06%	257,602	$38.3M	Reduce -2.3%
HQY Healthequity Inc.	0.06%	429,395	$37.9M	Add +67.7%
CALX Calix Inc.	0.06%	1,052,214	$37.3M	Reduce -5.2%
CYBR Cyberark Software Ltd./Israel	0.06%	106,486	$36.0M	Reduce -63.8%
FLS Flowserve Corp.	0.06%	700,739	$34.2M	Add +75.2%
SN Sharkninja Inc.	0.05%	397,681	$33.2M	Reduce -38.5%
FITB Fifth Third Bancorp	0.05%	845,437	$33.1M	Add +0.9%
LSPD Lightspeed Commerce Inc.	0.05%	3,778,331	$33.1M	Reduce -17.1%
MCO Moody's Corp.	0.05%	70,264	$32.7M	Reduce -2.1%
LLY Eli Lilly & Co.	0.05%	39,039	$32.2M	Reduce -6.2%
LINE Lineage Inc.	0.05%	541,724	$31.8M	Add +484.7%
TTAN Servicetitan Inc. Class A	0.05%	331,884	$31.6M	Add +29.1%
WAFD Wafd Inc.	0.05%	1,097,340	$31.4M	Add +0.7%
ENB Enbridge Inc.	0.05%	701,500	$31.1M	New
TARS Tarsus Pharmaceuticals Inc.	0.05%	603,214	$31.0M	Reduce -12.7%
MTB M & T Bank Corp. filed as M & T BK CORP	0.05%	169,947	$30.4M	Add +0.7%
GKOS Glaukos Corp.	0.05%	302,393	$29.8M	Reduce -35.9%
BIO Bio-Rad Laboratories-A	0.05%	119,868	$29.2M	Reduce -19.7%
AU Anglogold Ashanti PLC	0.05%	784,918	$29.1M	Add +85.4%
KTOS Kratos Defense & Security	0.05%	970,502	$28.8M	Add +63.8%
MA Mastercard Inc. Class A	0.05%	51,480	$28.2M	Reduce -41.2%
FIVN FIVE9 Inc.	0.04%	1,016,735	$27.6M	Add +39.1%
IBP Installed Building Products	0.04%	160,243	$27.5M	Reduce -2.3%
RNAM Avidity Biosciences Inc.	0.04%	928,227	$27.4M	Reduce -8.6%
MGM MGM Resorts International	0.04%	918,579	$27.2M	Add +12.1%
TREX Trex Company Inc.	0.04%	463,116	$26.9M	Reduce -3.1%
FRSH Freshworks Inc. Class A	0.04%	1,853,143	$26.1M	Add +87.3%
MC Moelis & Co. Class A	0.04%	432,060	$25.2M	Add +0.6%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.04%	259,743	$24.1M	Add +1.3%
VNM Vaneck Vietnam ETF	0.04%	1,882,617	$23.5M	Add +20.9%
GDXJ Vaneck Junior Gold Miners	0.04%	402,700	$23.0M	Add +42.9%
LIVN Livanova PLC	0.04%	586,129	$23.0M	Add +27.2%
SG Sweetgreen Inc. Class A	0.04%	917,599	$23.0M	New
VIST Vista Energy Sab DE CV	0.04%	487,435	$22.7M	Reduce -19.2%
SNA Snap-on Inc.	0.04%	64,101	$21.6M	Add +1.4%
BAP Credicorp Ltd.	0.03%	114,669	$21.3M	Reduce -15.3%
KKR KKR & Co. Inc.	0.03%	184,133	$21.3M	Reduce -34.8%
APO Apollo Global Management Inc.	0.03%	151,515	$20.7M	Reduce -45.9%
DESP Despegar.com Corp.	0.03%	1,092,945	$20.5M	Add +37.5%
MYGN Myriad Genetics Inc.	0.03%	2,277,256	$20.2M	Reduce -17.7%
EWTX Edgewise Therapeutics Inc.	0.03%	917,222	$20.2M	Reduce -14.4%
LOAR Loar Holdings Inc.	0.03%	280,559	$19.8M	Reduce -2.4%
ITGR Integer Holdings Corp.	0.03%	167,610	$19.8M	Reduce -2.5%
WVE Wave Life Sciences Ltd.	0.03%	2,370,153	$19.2M	Add +24.3%
VST Vistra Corp.	0.03%	157,619	$18.5M	New
ALAB Astera Labs Inc.	0.03%	303,480	$18.1M	Add +36.7%
ONON On Holding AG Class A filed as ON HLDG AG	0.03%	395,390	$17.4M	Reduce -17.6%
CHWY Chewy Inc. Class A	0.03%	509,738	$16.6M	Add +68.0%
ZGN Ermenegildo Zegna NV	0.03%	2,194,601	$16.2M	Reduce -18.8%
DSGX The Descartes Systems Grp	0.03%	157,435	$15.9M	Reduce -39.0%
CPA Copa Holdings SA Class A	0.03%	170,020	$15.7M	Add +0.0%
SDHC Smith Douglas Homes Corp.	0.03%	798,263	$15.6M	Reduce -1.8%
LXFR Luxfer Holdings PLC	0.02%	1,253,678	$14.9M	Add +59.6%
IOVA Iovance Biotherapeutics Inc.	0.02%	4,407,713	$14.7M	Reduce -3.0%
ARMK Aramark	0.02%	423,139	$14.6M	Reduce -1.9%
BIRK Birkenstock Holding PLC	0.02%	303,245	$13.9M	New
AXTA Axalta Coating Systems Ltd.	0.02%	389,964	$12.9M	Add +0.4%
GLOB Globant SA	0.02%	108,275	$12.7M	Reduce -0.3%
SEDG Solaredge Technologies Inc.	0.02%	778,477	$12.6M	New
CRL Charles River Laboratories	0.02%	81,790	$12.3M	New
AGIO Agios Pharmaceuticals Inc.	0.02%	410,672	$12.0M	Reduce -17.7%
ENPH Enphase Energy Inc.	0.02%	189,941	$11.8M	Reduce -17.7%
BBIO Bridgebio Pharma Inc.	0.02%	338,405	$11.7M	New
RTX RTX Corp.	0.02%	87,288	$11.6M	Add +71.9%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU	0.02%	718,791	$11.2M	New
DLB Dolby Laboratories Inc. Class A	0.02%	136,565	$11.0M	Reduce -0.1%
WOLF Wolfspeed Inc.	0.02%	3,451,957	$10.6M	Reduce -4.9%
DCBO Docebo Inc.	0.02%	342,418	$9.9M	Reduce -10.7%
OCUL Ocular Therapeutix Inc.	0.01%	1,155,076	$8.5M	Reduce -13.5%
DNLI Denali Therapeutics Inc.	0.01%	612,438	$8.3M	Reduce -41.9%
EG Everest Group Ltd.	0.01%	21,086	$7.7M	Add +58.9%
NRIX Nurix Therapeutics Inc.	0.01%	638,609	$7.6M	New
VTEX Vtex Class A	0.01%	1,469,175	$7.4M	Add +0.4%
ICE Intercontinental Exchange Inc.	0.01%	42,265	$7.3M	Add +82.1%
STAA Staar Surgical Co.	0.01%	354,432	$6.2M	Reduce -19.3%
IONS Ionis Pharmaceuticals Inc.	0.01%	203,178	$6.1M	Reduce -19.6%
ARIS Aris Mining Corp. filed as ARIS MNG CORP	0.01%	1,297,079	$6.0M	Add +57.9%
REPL Replimune Group Inc.	0.01%	565,075	$5.5M	Reduce -7.5%
VRNA Verona Pharma Ltd.	0.01%	81,479	$5.2M	New
VIR Vir Biotechnology Inc.	0.01%	791,611	$5.1M	Reduce -13.8%
DUOL Duolingo	0.01%	15,583	$4.8M	New
OWL Blue Owl Capital Inc.	0.01%	234,437	$4.7M	Reduce -11.3%
CELC Celcuity Inc.	0.01%	454,646	$4.6M	Reduce -7.5%
SYK Stryker Corp.	0.01%	11,664	$4.3M	Reduce -11.3%
HOG Harley-Davidson Inc.	0.01%	162,772	$4.1M	Reduce -0.7%
NIO Nio Inc. - ADR	0.01%	898,950	$3.4M	Reduce -0.3%
TCOM Trip.com Group Ltd.-ADR	0.00%	46,933	$3.0M	Reduce -85.5%
TUYA Tuya Inc.	0.00%	644,930	$2.0M	New
SMMT Summit Therapeutics Inc.	0.00%	89,373	$1.7M	Reduce -5.7%
LI Li Auto Inc. - ADR	0.00%	63,897	$1.6M	New
IBN Icici Bank Ltd.-Spon ADR	0.00%	17,751	$560K	No change
PPL PPL Corp.	0.00%	11,523	$416K	No change
BTG B2GOLD Corp.	0.00%	143,000	$406K	New
INDY iShares India 50 ETF	0.00%	6,704	$340K	No change
NGD New Gold Inc.	0.00%	80,750	$300K	Reduce -22.4%
EVRG Evergy Inc.	0.00%	4,308	$297K	No change
CGAU Centerra Gold Inc.	0.00%	44,200	$281K	Add +80.4%
UHT Universal Health RLTY Income	0.00%	6,543	$268K	No change
IDA Idacorp Inc.	0.00%	1,885	$219K	No change
GAU Galiano Gold Inc.	0.00%	30,000	$37K	No change

Options reported separately and not counted above: MSFT puts ($181.8M), TSM puts ($40.0M), NVDA puts ($29.7M).

Other holdings (4): bonds, preferreds, convertibles and warrants · $2.4M (not counted above)

Security	Class	Shares / Principal	Value	Change
LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27)	NOTE 1.750% 1/1 · principal	2,455,000	$2.0M	New
REDWOOD TRUST INC (RWT 7.75 06/15/27)	NOTE 7.750% 6/1 · principal	215,000	$217K	No change
CABLE ONE INC (CABO 0 03/15/26)	NOTE 3/1 · principal	106,000	$100K	No change
CABLE ONE INC (CABO 1.125 03/15/28)	NOTE 1.125% 3/1 · principal	97,000	$77K	No change

Total filed on the 13F, all lines: $61.7B.

Portfolio Sells Q4 2024 → Q1 2025


PWR Quanta Services Inc.	Sold out	0.00%	−1.05
GOOGL Alphabet Inc. Class A	Reduce -20.7%	1.87%	−0.87
TSM Taiwan Semiconductor-SP ADR	Reduce -41.3%	0.89%	−0.82
WST West Pharmaceutical Services	Reduce -29.4%	0.80%	−0.77
AMD Advanced Micro Devices	Reduce -54.9%	0.48%	−0.70
ANET Arista Networks Inc.	Reduce -78.0%	0.13%	−0.69
AMZN Amazon.com Inc.	Reduce -31.2%	0.98%	−0.58
CP Canadian Pacific Kansas City	Sold out	0.00%	−0.50
ONTO Onto Innovation Inc.	Sold out	0.00%	−0.39
ON On Semiconductor	Sold out	0.00%	−0.39
META Meta Platforms Inc. Class A	Reduce -19.3%	1.98%	−0.38
DDOG Datadog Inc. Class A	Sold out	0.00%	−0.36
SPOT Spotify Technology SA	Reduce -50.5%	0.58%	−0.32
EFX Equifax Inc.	Sold out	0.00%	−0.29
TEAM Atlassian Corp. Class A	Reduce -19.1%	0.80%	−0.28
NU Nu Holdings Ltd./Cayman Isl-A	Reduce -51.6%	0.27%	−0.26
ARGX Argenx SE - ADR	Reduce -9.3%	2.67%	−0.23
WAB Wabtec Corp.	Sold out	0.00%	−0.23
ILMN Illumina Inc.	Sold out	0.00%	−0.22
SAIA Saia Inc.	Reduce -27.1%	0.30%	−0.21
HUBB Hubbell Inc.	Reduce -45.0%	0.17%	−0.20
FTV Fortive Corp.	Sold out	0.00%	−0.19
EXAS Exact Sciences Corp.	Sold out	0.00%	−0.17
EA Electronic Arts Inc.	Reduce -73.6%	0.06%	−0.17
NOW ServiceNow Inc.	Sold out	0.00%	−0.17
ECL Ecolab Inc.	Reduce -43.6%	0.30%	−0.16
FLUT Flutter Entertainment PLC-Di	Sold out	0.00%	−0.15
VCYT Veracyte Inc.	Reduce -20.6%	0.25%	−0.15
MTSI Macom Technology Solutions H	Reduce -10.2%	0.40%	−0.15
NVDA Nvidia Corp.	Reduce -8.7%	0.47%	−0.13
TYL Tyler Technologies Inc.	Reduce -20.5%	0.69%	−0.13
LSCC Lattice Semiconductor Corp.	Reduce -14.7%	0.62%	−0.13
MAR Marriott International Class A	Sold out	0.00%	−0.12
CEG Constellation Energy	Sold out	0.00%	−0.12
PSN Parsons Corp.	Reduce -11.3%	0.18%	−0.12
DAY Dayforce Inc.	Sold out	0.00%	−0.11
TT Trane Technologies PLC	Sold out	0.00%	−0.10
TAC Transalta Corp.	Sold out	0.00%	−0.10
VRT Vertiv Holdings Co. Class A	Sold out	0.00%	−0.10
ARES Ares Management Corp. Class A	Reduce -37.4%	0.11%	−0.09
CYBR Cyberark Software Ltd./Israel	Reduce -63.8%	0.06%	−0.09
BBY Best Buy Co. Inc.	Sold out	0.00%	−0.09
CMG Chipotle Mexican Grill Inc.	Reduce -13.8%	0.27%	−0.09
MKTX Marketaxess Holdings Inc.	Sold out	0.00%	−0.09
HUBS HubSpot Inc.	Reduce -8.9%	0.29%	−0.08
EQIX Equinix Inc.	Reduce -35.1%	0.11%	−0.08
MYRG MYR Group Inc./Delaware	Sold out	0.00%	−0.07
NICE Nice Ltd. - Spon ADR	Reduce -18.0%	0.26%	−0.07
VRSK Verisk Analytics Inc.	Reduce -42.7%	0.13%	−0.07
PATH Uipath Inc. Class A	Sold out	0.00%	−0.07

Portfolio Buys Q4 2024 → Q1 2025


BKR Baker Hughes Co.	New	1.18%	+1.18
ICLR Icon PLC	Add +2097.2%	1.22%	+1.15
SNOW Snowflake Inc.	Add +669.7%	1.02%	+0.89
ELV Elevance Health Inc.	Add +16.5%	2.36%	+0.73
BABA Alibaba Group Holding-SP ADR	Add +2717.9%	0.68%	+0.67
WMB Williams Cos Inc.	Add +4089.9%	0.49%	+0.48
FTAI Ftai Aviation Ltd.	New	0.38%	+0.38
ACGL Arch Capital Group Ltd.	Add +0.1%	3.65%	+0.33
GEV GE Vernova Inc.	Add +96.1%	0.68%	+0.33
LRCX Lam Research Corp.	Add +40.1%	0.86%	+0.28
MELI MercadoLibre Inc.	Add +34.9%	0.69%	+0.27
CRM Salesforce Inc.	New	0.26%	+0.26
WTW Willis Towers Watson PLC	Add +0.6%	1.93%	+0.24
AON Aon PLC Class A	Add +3.3%	1.38%	+0.24
PYPL PayPal Holdings Inc.	Add +51.3%	1.25%	+0.22
GWRE Guidewire Software Inc.	Add +37.4%	0.59%	+0.22
SU Suncor Energy Inc.	Add +0.2%	1.53%	+0.20
BFAM Bright Horizons Family Solut	Add +97.2%	0.34%	+0.19
NOK Nokia Corp.-Spon ADR	Add +1.2%	0.91%	+0.19
LIN Linde PLC	Add +10.4%	0.77%	+0.17
SBUX Starbucks Corp.	New	0.16%	+0.16
TME Tencent Music Entertainm-ADR	Add +40.8%	0.33%	+0.15
VRTX Vertex Pharmaceuticals Inc.	Add +8.2%	0.57%	+0.15
HWM Howmet Aerospace Inc.	New	0.14%	+0.14
VIK Viking Holdings Ltd.	New	0.14%	+0.14
RBLX Roblox Corp. Class A	New	0.14%	+0.14
CME Cme Group Inc.	Add +40.8%	0.32%	+0.13
CCI Crown Castle Inc.	New	0.12%	+0.12
PRMB Primo Brands Corp.	New	0.12%	+0.12
TDG Transdigm Group Inc.	Add +1039.4%	0.11%	+0.10
C Citigroup Inc.	Add +2.1%	1.33%	+0.10
IRTC Irhythm Holdings Inc.	Add +1.9%	0.48%	+0.09
PM Philip Morris International	Add +0.2%	0.32%	+0.09
PR Permian Resources Corp. Class A	New	0.09%	+0.09
ARIS WATER SOLUTIONS INC-A	New	0.09%	+0.09
NET Cloudflare Inc. Class A	New	0.09%	+0.09
CNH CNH Industrial NV	Add +1.3%	0.64%	+0.09
WFC Wells Fargo & Co.	Add +37.8%	0.27%	+0.09
NKE Nike Inc. Class B	Add +56.7%	0.30%	+0.08
MASI Masimo Corp.	New	0.08%	+0.08
GE General Electric	Add +14.8%	0.24%	+0.08
ARM Arm Holdings PLC-ADR	Add +25.9%	0.58%	+0.07
DASH DoorDash Inc. Class A	Add +7.5%	0.39%	+0.07
DG Dollar General Corp.	Add +26.7%	0.21%	+0.07
BZ Kanzhun Ltd. - ADR	Add +20.1%	0.17%	+0.07
FANG Diamondback Energy Inc.	Add +57.5%	0.19%	+0.07
ADI Analog Devices Inc.	Add +64.5%	0.17%	+0.07
INSM Insmed Inc.	Add +2.9%	0.40%	+0.07
S Sentinelone Inc. Class A	New	0.06%	+0.06
AJG Arthur J Gallagher & Co.	Add +8.9%	0.22%	+0.06

Options Activity Q4 2024 → Q1 2025


TSLA Tesla Inc.	put	Sold out	592,600	$239.3Mbefore exit
AMZN Amazon.com Inc.	call	Sold out	1,007,700	$221.1Mbefore exit
TSLA Tesla Inc.	call	Sold out	510,900	$206.3Mbefore exit
MSFT Microsoft Corp.	put	Reduce -6.7%	484,400	$181.8M
AMZN Amazon.com Inc.	put	Sold out	559,800	$122.8Mbefore exit
META Meta Platforms Inc. Class A	put	Sold out	176,300	$103.2Mbefore exit
AAPL Apple Inc.	call	Sold out	357,900	$89.6Mbefore exit
APO Apollo Global Management Inc.	call	Sold out	503,500	$83.2Mbefore exit
CEG Constellation Energy	put	Sold out	346,400	$77.5Mbefore exit
VST Vistra Corp.	call	Sold out	503,800	$69.5Mbefore exit
NOW ServiceNow Inc.	put	Sold out	56,300	$59.7Mbefore exit
KKR KKR & Co. Inc.	call	Sold out	387,500	$57.3Mbefore exit
TSM Taiwan Semiconductor-SP ADR	put	New	241,000	$40.0M
NVDA Nvidia Corp.	put	New	273,800	$29.7M

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


LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27)	NOTE 1.750% 1/1 · principal	New	2,455,000	$2.0M

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	328	$61.3B	ACGL, BNY, GOOGL, ELV, SCHW
Q1 2026	327	$61.3B	ACGL, BNY, SCHW, GOOGL, ELV
Q4 2025	325	$65.4B	ACGL, GOOGL, ELV, SCHW, BNY
Q3 2025	322	$69.5B	ACGL, GOOGL, SCHW, BNY, META
Q2 2025	329	$67.1B	ACGL, META, SCHW, NFLX, AXP
Q1 2025	338	$61.6B	ACGL, ARGX, ELV, SCHW, BRK.B
Q4 2024	349	$64.9B	ACGL, ARGX, GOOGL, META, SCHW
Q3 2024	327	$66.7B	ACGL, ARGX, GOOGL, META, AXP
Q2 2024	321	$65.8B	ACGL, GOOGL, AMZN, ARGX, META
Q1 2024	325	$68.6B	ACGL, GOOGL, AMZN, CMG, META