Banco Santander, S.A.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Banco Santander, S.A. reported 470 stock positions worth $11.3 billion. Its top holding was Banco Santander Brasil-ADS (BSBR) at 25.8% of the portfolio, followed by Nvidia (NVDA, 5.1%) and Microsoft (MSFT, 3.8%). Compared with Q2 2025, it opened 50 new positions, sold out of 59, added to 176 and reduced 194. The biggest buy was Nvidia (NVDA, shares +20%) and the biggest sale an exit from NRG Energy (NRG).

Most Recent 13F
Q2 2026
Location
Madrid, U3
CIK
0000891478
Portfolio Value
$11.3B (Q3 2025)
SEC Filing
0000891478-25-000141 ↗ filed Nov 12, 2025

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $8.3B Q1 2024 Q2 2024: $8.1B Q2 2024 Q3 2024: $8.5B Q3 2024 Q4 2024: $8.3B Q4 2024 Q1 2025: $9.1B Q1 2025 Q2 2025: $10.5B Q2 2025 Q3 2025: $11.3B $11.3B Q3 2025 Q4 2025: $13.4B Q4 2025 Q1 2026: $12.4B Q1 2026 Q2 2026: $16.1B Q2 2026

Holdings 470 stocks · $11.3B

BSBR Banco Santander Brasil-ADS 25.82% 520,218,168 $2.9B No change
NVDA Nvidia Corp. 5.06% 3,055,183 $570.0M Add +20.0%
MSFT Microsoft Corp. 3.83% 831,873 $430.9M Add +4.8%
AMZN Amazon.com Inc. 3.00% 1,537,460 $337.6M Add +32.0%
AAPL Apple Inc. 2.96% 1,308,481 $333.2M Add +13.2%
RACE Ferrari NV 2.49% 578,124 $280.5M Reduce -0.6%
FER Ferrovial NV 2.01% 3,868,128 $226.7M Reduce -8.8%
META Meta Platforms Inc. Class A 1.84% 282,739 $207.6M Add +2.1%
TSLA Tesla Inc. 1.75% 442,745 $196.9M Add +61.2%
GOOGL Alphabet Inc. Class A 1.75% 809,043 $196.7M Reduce -5.5%
AVGO Broadcom Inc. 1.45% 493,991 $163.0M Add +0.5%
SPY SS SPDR S&P 500 ETF Trust-US 1.44% 243,745 $162.4M Reduce -6.5%
JPM JPMorgan Chase & Co. 1.27% 452,612 $142.8M Add +9.1%
DB Deutsche Bank AG-Registered 1.22% 3,884,422 $137.5M Add +4258.7%
VOO Vanguard S&P 500 ETF 1.20% 220,543 $135.1M Add +22.8%
GLD SPDR Gold Shares 1.02% 322,778 $114.7M Add +20.9%
GOOG Alphabet Inc. Class C 1.01% 464,938 $113.2M Reduce -5.1%
QQQM Invesco Nasdaq 100 ETF 0.93% 425,120 $105.1M Reduce -4.2%
COTY Coty Inc. Class A 0.83% 23,112,758 $93.4M No change
STLA Stellantis NV 0.79% 9,525,584 $89.0M Reduce -11.3%
WMT Walmart Inc. 0.78% 853,104 $87.9M Add +30.1%
LLY Eli Lilly & Co. 0.75% 111,267 $84.9M Add +28.5%
ORCL Oracle Corp. 0.73% 293,874 $82.6M Reduce -1.1%
V Visa Inc. Class A 0.73% 242,027 $82.6M Reduce -2.1%
NFLX Netflix Inc. 0.71% 66,650 $79.9M Reduce -5.6%
MS Morgan Stanley 0.60% 421,618 $67.0M Add +6.6%
IVV iShares Core S&P 500 ETF 0.57% 95,756 $64.1M Add +4.8%
C Citigroup Inc. 0.56% 617,651 $62.7M Add +14.4%
EEM iShares MSCI Emerging Market 0.53% 1,111,478 $59.4M Add +3.5%
MA Mastercard Inc. Class A 0.52% 103,620 $58.9M Add +3.0%
HD Home Depot Inc. 0.51% 143,057 $58.0M Reduce 0.0%
XOM Exxon Mobil Corp. 0.51% 509,150 $57.4M Reduce -11.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.51% 1,103,862 $56.9M Reduce -26.4%
CRM Salesforce Inc. 0.48% 227,153 $53.8M Add +3.3%
PFE Pfizer Inc. 0.45% 1,973,135 $50.3M Add +4.4%
NOW ServiceNow Inc. 0.44% 54,314 $50.0M Add +14.8%
CAT Caterpillar Inc. 0.41% 97,659 $46.6M Add +17.2%
RSP Invesco S&P 500 Equal Weight 0.39% 234,163 $44.4M Reduce -32.2%
URTH iShares MSCI World ETF 0.38% 236,426 $42.9M Add +14.6%
ACWI iShares MSCI Acwi ETF 0.37% 301,217 $41.6M Reduce -21.9%
BRK.B Berkshire Hathaway Inc. Class B 0.37% 82,510 $41.5M Add +8.9%
QCOM Qualcomm Inc. 0.36% 242,711 $40.4M Add +0.0%
REGN Regeneron Pharmaceuticals 0.36% 71,135 $40.0M Add +263.7%
SHV iShares 0-1 Year Treasury Bo 0.35% 355,905 $39.3M Add +15.2%
KO The Coca-Cola Co. 0.35% 586,340 $38.9M Add +4.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.34% 332,972 $38.1M Add +18.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.34% 135,043 $38.1M Add +26.0%
UBER Uber Technologies Inc. 0.34% 386,409 $37.9M Reduce -14.7%
ADBE Adobe Inc. 0.34% 107,122 $37.8M Add +52.3%
GE General Electric filed as GE AEROSPACE 0.33% 125,262 $37.7M Add +20.4%
VWO Vanguard Ftse Emerging Marke 0.33% 689,109 $37.3M Add +72.5%
MRVL Marvell Technology Inc. 0.33% 439,783 $37.0M Add +62.5%
ICE Intercontinental Exchange Inc. 0.33% 219,392 $37.0M Reduce -5.7%
ISRG Intuitive Surgical Inc. 0.33% 82,563 $36.9M Add +22.5%
TMO Thermo Fisher Scientific Inc. 0.33% 75,588 $36.7M Reduce -19.5%
GS Goldman Sachs Group Inc. 0.32% 45,221 $36.0M Reduce -4.6%
ABBV Abbvie Inc. 0.32% 153,367 $35.5M Add +0.7%
LRCX Lam Research Corp. 0.30% 251,765 $33.7M Add +19.6%
PG The Procter & Gamble Co. 0.29% 215,318 $33.1M Add +15.7%
VGK Vanguard Ftse Europe ETF 0.29% 409,819 $32.7M Reduce -12.7%
ITRI Itron Inc. 0.29% 258,500 $32.2M Add +33.3%
QQQ Invesco QQQ Trust Series 1 0.28% 52,063 $31.3M Add +17.0%
VRTX Vertex Pharmaceuticals Inc. 0.28% 79,406 $31.1M Add +13.1%
IEF iShares 7-10 Year Treasury B 0.27% 314,031 $30.3M Reduce -24.6%
WM Waste Management Inc. 0.27% 135,616 $29.9M Add +16.6%
COST Costco Wholesale Corp. 0.26% 31,367 $29.0M Add +41.0%
SPAB SS SPDR P Agg Bond ETF 0.26% 1,117,585 $28.9M Reduce -0.6%
WAB Wabtec Corp. 0.26% 143,509 $28.8M Add +23.4%
PH Parker Hannifin Corp. 0.25% 37,090 $28.1M Add +4.1%
CSCO Cisco Systems Inc. 0.24% 400,352 $27.4M Add +3.1%
SPSM SS SPDR P S&P 600 Small Cap 0.24% 586,360 $27.2M Add +16.5%
CME Cme Group Inc. 0.24% 100,510 $27.2M Reduce -0.5%
IEI iShares 3-7 Year Treasury Bo 0.24% 225,493 $26.9M Add +4.9%
DNUT Krispy Kreme Inc. 0.24% 6,916,972 $26.8M No change
AMD Advanced Micro Devices 0.24% 164,871 $26.7M Add +1.6%
SPG Simon Property Group Inc. 0.23% 140,905 $26.4M Reduce -0.1%
ETR Entergy Corp. 0.23% 282,155 $26.3M No change
BKNG Booking Holdings Inc. 0.23% 4,768 $25.7M Add +16.6%
ADI Analog Devices Inc. 0.22% 102,262 $25.1M Add +28.1%
APH Amphenol Corp. Class A 0.22% 199,512 $24.7M Add +3.8%
COIN Coinbase Global Inc. Class A 0.22% 72,886 $24.6M Reduce -22.6%
SCHW Schwab (charles) Corp. 0.21% 250,706 $23.9M Add +56.6%
PYPL PayPal Holdings Inc. 0.21% 347,143 $23.3M Add +99.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.21% 160,368 $23.2M Add +24.6%
MSI Motorola Solutions Inc. 0.20% 50,153 $22.9M Reduce -13.2%
IQV Iqvia Holdings Inc. 0.20% 120,226 $22.8M Add +0.8%
BMY Bristol-Myers Squibb Co. 0.20% 503,925 $22.7M Add +108.6%
UNH Unitedhealth Group Inc. 0.20% 64,146 $22.1M Reduce -24.5%
CTAS Cintas Corp. 0.20% 107,709 $22.1M Add +1.4%
CMCSA Comcast Corp. Class A 0.19% 663,712 $20.9M Reduce -3.2%
TMUS T-Mobile US Inc. 0.18% 86,839 $20.8M Add +4.9%
HON Honeywell International Inc. 0.18% 95,861 $20.2M New
INTU Intuit Inc. 0.18% 29,364 $20.1M Add +164.1%
EWJ iShares MSCI Japan ETF 0.18% 249,039 $20.0M Reduce -34.0%
BA The Boeing Co. 0.17% 91,100 $19.7M Reduce -4.9%
EIX Edison International 0.17% 353,631 $19.5M Add +0.1%
PGR Progressive Corp. 0.17% 79,065 $19.5M Reduce -9.8%
COF Capital One Financial Corp. 0.17% 89,916 $19.1M Add +23.3%
UNP Union Pacific Corp. 0.17% 80,682 $19.1M Add +1326.5%
PLTR Palantir Technologies Inc. Class A 0.17% 103,696 $18.9M Reduce -31.4%
KKR KKR & Co. Inc. 0.17% 144,970 $18.8M Add +5405.9%
WELL Welltower Inc. 0.17% 104,687 $18.6M Reduce -14.3%
CAH Cardinal Health Inc. 0.16% 117,354 $18.4M Add +12.7%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.16% 175,729 $18.0M Add +0.2%
AMAT Applied Materials Inc. 0.16% 85,626 $17.5M Reduce -10.9%
CVX Chevron Corp. 0.15% 110,530 $17.2M Add +7.5%
SPGI S&P Global Inc. 0.15% 35,068 $17.1M Add +31.2%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.15% 192,505 $17.0M Add +3798.4%
DXCM Dexcom Inc. 0.15% 250,310 $16.8M Add +28.9%
CL Colgate-Palmolive Co. 0.15% 210,219 $16.8M Reduce -9.8%
IR Ingersoll-Rand Inc. 0.14% 191,874 $15.9M Add +537.8%
NEE Nextera Energy Inc. 0.14% 209,727 $15.8M Add +110.0%
NKE Nike Inc. Class B 0.14% 226,043 $15.8M Add +2.2%
ADSK Autodesk Inc. 0.14% 48,413 $15.4M Reduce -51.5%
XSVM Invesco S&P Smallcap Value W 0.13% 264,775 $14.9M New
GILD Gilead Sciences Inc. 0.13% 132,996 $14.8M Reduce -0.1%
MCD McDonald's Corp. 0.13% 46,954 $14.3M Add +23.3%
EEMV iShares MSCI Emg MKT Min Vol 0.12% 219,596 $14.0M Reduce -17.0%
MU Micron Technology Inc. 0.12% 83,659 $14.0M Add +17.7%
PM Philip Morris International 0.12% 84,822 $13.8M Reduce -39.4%
LNG Cheniere Energy Inc. 0.12% 57,624 $13.5M Reduce -1.9%
KHC The Kraft Heinz Co. 0.12% 502,819 $13.1M Add +0.2%
TRV The Travelers Cos Inc. 0.12% 46,796 $13.1M Reduce -5.7%
MRK Merck & Co. Inc. 0.12% 155,068 $13.0M Reduce -58.3%
USMV iShares MSCI USA Min Vol Fac 0.11% 135,589 $12.9M Reduce -16.1%
FDX FedEx Corp. 0.11% 54,425 $12.8M Reduce -0.3%
FANG Diamondback Energy Inc. 0.11% 88,608 $12.7M Add +3.0%
MTZ Mastec Inc. 0.11% 57,877 $12.3M Add +16.8%
FAST Fastenal Co. 0.11% 251,139 $12.3M New
MCO Moody's Corp. 0.11% 25,672 $12.2M No change
MNST Monster Beverage Corp. 0.11% 181,059 $12.2M Reduce -2.9%
CTVA Corteva Inc. 0.11% 179,664 $12.2M New
AME Ametek Inc. 0.11% 63,955 $12.0M Add +41.0%
VCIT Vanguard Int-Term Corporate 0.11% 140,755 $11.8M Reduce -48.8%
INTC Intel Corp. 0.10% 339,158 $11.4M Reduce -22.2%
ITGR Integer Holdings Corp. 0.10% 107,893 $11.1M Add +3.8%
FOXA Fox Corp. Class A 0.10% 172,750 $10.9M Reduce -24.0%
DE Deere & Co. 0.09% 23,283 $10.6M Reduce -9.8%
MCHI iShares MSCI China ETF 0.09% 153,155 $10.1M Reduce -31.4%
ANET Arista Networks Inc. 0.09% 68,904 $10.0M Add +458.7%
DD Dupont DE Nemours Inc. 0.09% 127,782 $10.0M No change
DAL Delta Air Lines Inc. 0.09% 173,832 $9.9M Add +15.0%
JNJ Johnson & Johnson 0.09% 52,366 $9.7M Reduce -4.2%
HEI.A Heico Corp. Class A 0.08% 37,109 $9.4M Add +0.3%
NDAQ Nasdaq Inc. 0.08% 104,560 $9.2M No change
IYE iShares U.S. Energy ETF 0.08% 194,521 $9.2M No change
LILAK Liberty Latin Americ Class C 0.08% 1,093,309 $9.2M Add +899.7%
AAXJ iShares MSCI All Country Asi 0.08% 100,886 $9.2M Reduce -3.4%
MVBF MVB Financial Corp. 0.08% 365,107 $9.1M No change
TPR Tapestry Inc. 0.08% 80,782 $9.1M Add +0.9%
KR Kroger Co. 0.08% 135,354 $9.1M Reduce -44.8%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.08% 263,927 $9.1M Add +7.7%
EPP iShares MSCI Pacific Ex Japa 0.08% 172,600 $8.9M Add +7.6%
PANW Palo Alto Networks Inc. 0.08% 43,346 $8.8M Add +26.8%
DOV Dover Corp. 0.08% 51,560 $8.6M New
AXP American Express Co. 0.07% 25,323 $8.4M Add +27.3%
XLK SS Technology Select Sector 0.07% 29,683 $8.4M Reduce -3.5%
CEG Constellation Energy 0.07% 24,841 $8.2M Reduce -2.1%
SBUX Starbucks Corp. 0.07% 95,314 $8.1M Reduce -4.9%
XLF SS Financial Select Sector 0.07% 145,132 $7.8M Add +7.1%
NI Nisource Inc. 0.07% 180,476 $7.8M No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.07% 88,246 $7.7M Add +1.5%
WFC Wells Fargo & Co. 0.07% 87,274 $7.3M Add +26.1%
ENPH Enphase Energy Inc. 0.06% 204,478 $7.2M Add +36.7%
IGF iShares Global Infrastructur 0.06% 116,020 $7.1M Reduce -7.7%
ED Consolidated Edison Inc. 0.06% 69,191 $7.0M Reduce -5.9%
BIL SS SPDR BB 1-3M T-Bill ETF 0.06% 75,522 $6.9M Add +163.7%
RL Ralph Lauren Corp. 0.06% 21,980 $6.9M Add +656.1%
MLI Mueller Industries Inc. 0.06% 67,077 $6.8M New
HUBS HubSpot Inc. 0.06% 14,488 $6.8M New
DRI Darden Restaurants Inc. 0.06% 35,421 $6.7M New
IVE iShares S&P 500 Value ETF 0.06% 32,558 $6.7M Add +7.5%
CSX CSX Corp. 0.06% 187,936 $6.7M Add +1333.2%
VTIP Vanguard Short-Term Tips 0.06% 130,387 $6.6M No change
IXG iShares Global Financials Et 0.06% 54,954 $6.4M Reduce -3.5%
BABA Alibaba Group Holding-SP ADR 0.06% 35,175 $6.3M Reduce -15.7%
VALE Vale SA-SP ADR 0.06% 570,254 $6.2M Reduce -32.9%
VT Vanguard Tot World STK ETF 0.05% 43,996 $6.1M Reduce -54.6%
XLP SS Consumer Staples Sel Sect 0.05% 76,700 $6.0M Add +9.1%
L Loews Corp. 0.05% 59,867 $6.0M No change
SHY iShares 1-3 Year Treasury Bo 0.05% 69,031 $5.7M New
VAW Vanguard Materials ETF 0.05% 27,924 $5.7M No change
AMGN Amgen Inc. 0.05% 20,053 $5.7M Add +5.8%
FIX Comfort Systems USA Inc. 0.05% 6,853 $5.7M New
BLK BlackRock Inc. 0.05% 4,846 $5.6M Reduce -28.8%
BSX Boston Scientific Corp. 0.05% 57,710 $5.6M Reduce -6.6%
ZS Zscaler Inc. 0.05% 18,738 $5.6M Reduce -4.2%
MRNA Moderna Inc. 0.05% 215,894 $5.6M Add +22.1%
IXJ iShares Global Healthcare Et 0.05% 62,536 $5.5M Reduce -5.6%
HAS Hasbro Inc. 0.05% 72,821 $5.5M New
TSM Taiwan Semiconductor-SP ADR 0.05% 19,548 $5.5M Reduce -26.8%
SEIC Sei Investments Company 0.05% 63,920 $5.4M No change
XLC SS Comm Select Sector SPDR 0.05% 45,463 $5.4M Reduce -18.8%
ILF iShares Latin America 40 ETF 0.05% 183,454 $5.3M Add +57.5%
CMI Cummins Inc. 0.05% 12,115 $5.1M Add +8.7%
XLV SS Health Care Select Sector 0.04% 36,013 $5.0M Reduce -17.8%
TLT iShares 20+ Year Treasury BD 0.04% 55,377 $4.9M Reduce -79.2%
MCHP Microchip Technology Inc. 0.04% 76,981 $4.9M Add +104.2%
DOW Dow Inc. 0.04% 214,769 $4.9M Reduce -1.4%
MAR Marriott International Class A 0.04% 18,531 $4.8M No change
LYB Lyondellbasell Indu Class A 0.04% 98,282 $4.8M Reduce -0.9%
USIG iShares Broad Usd Investment 0.04% 91,480 $4.8M Add +144.3%
EMR Emerson Electric Co. 0.04% 36,391 $4.8M Add +7.9%
EWZ iShares MSCI Brazil ETF 0.04% 151,613 $4.7M Reduce -50.8%
NVO Novo-Nordisk A/S-Spons ADR 0.04% 84,567 $4.7M Reduce -42.9%
GLPI Gaming and Leisure Propertie 0.04% 100,416 $4.7M No change
ABT Abbott Laboratories 0.04% 34,567 $4.6M Reduce -12.7%
VERX Vertex Inc. Class A 0.04% 177,826 $4.4M Reduce -47.4%
VZ Verizon Communications Inc. 0.04% 98,330 $4.3M Reduce -15.3%
FCX Freeport-McMoran Inc. 0.04% 108,951 $4.3M Add +61.5%
PWR Quanta Services Inc. 0.04% 10,240 $4.2M Add +9.7%
IGIB iShares 5-10Y Inv Grade Corp. 0.04% 77,584 $4.2M Reduce -7.1%
CNC Centene Corp. 0.04% 117,229 $4.2M Add +3.2%
QUAL iShares MSCI USA Quality Fac 0.04% 21,040 $4.1M No change
HLT Hilton Worldwide Holdings Inc. 0.04% 15,746 $4.1M Add +2.9%
ADP Automatic Data Processing 0.04% 13,732 $4.0M Reduce -25.8%
FDS Factset Research Systems Inc. 0.04% 14,050 $4.0M Add +18.5%
FTNT Fortinet Inc. 0.04% 47,838 $4.0M Reduce -0.6%
SNOW Snowflake Inc. 0.04% 17,652 $4.0M Reduce -59.4%
PCRX Pacira Biosciences Inc. 0.04% 153,000 $3.9M Add +12.5%
YUM Yum! Brands Inc. 0.03% 25,851 $3.9M Reduce -2.4%
EXPD Expeditors Intl Wash Inc. 0.03% 32,027 $3.9M Reduce -64.3%
F Ford Motor Co. filed as FORD MTR CO 0.03% 326,723 $3.9M Add +2.0%
NVS Novartis AG-Sponsored ADR 0.03% 30,286 $3.9M Reduce -51.4%
MDLZ Mondelez International Inc. Class A 0.03% 60,802 $3.8M Reduce -74.9%
XLY SS Consumer Disc Select Sect 0.03% 15,656 $3.8M Reduce -9.2%
TXN Texas Instruments Inc. 0.03% 20,152 $3.7M Add +66.5%
NTRA Natera Inc. 0.03% 22,986 $3.7M No change
AZO AutoZone Inc. 0.03% 860 $3.7M Reduce -13.6%
RTX RTX Corp. 0.03% 21,069 $3.5M New
TDG Transdigm Group Inc. 0.03% 2,662 $3.5M Add +6.9%
LILA Liberty Latin Americ Class A 0.03% 419,718 $3.5M Reduce -12.0%
NUE Nucor Corp. 0.03% 25,346 $3.4M Add +9.1%
ACM Aecom 0.03% 26,180 $3.4M Reduce -2.4%
XLE SS Energy Select Sector 0.03% 37,219 $3.3M Add +15.3%
ZTS Zoetis Inc. 0.03% 22,614 $3.3M Reduce -1.2%
GGAL Grupo Financiero Galicia-ADR 0.03% 119,514 $3.3M Add +215.8%
OTIS Otis Worldwide Corp. 0.03% 35,775 $3.3M Reduce -2.5%
PPG PPG Industries Inc. 0.03% 30,824 $3.2M Reduce -1.3%
HWM Howmet Aerospace Inc. 0.03% 16,005 $3.1M Reduce -5.9%
RKLB Rocket Lab Corp. 0.03% 63,640 $3.0M Add +392.5%
XYZ Block Inc. 0.03% 41,614 $3.0M Add +1.2%
EBAY eBay Inc. 0.03% 32,720 $3.0M Add +7.6%
ROBT First Trust Nasdaq Artificia 0.03% 55,896 $3.0M New
SCI Service Corp. International 0.03% 35,350 $2.9M No change
ELV Elevance Health Inc. 0.03% 9,012 $2.9M Add +8.7%
ALC Alcon Inc. filed as ALCON AG 0.03% 38,889 $2.9M Add +64.5%
ODFL Old Dominion Freight Line 0.03% 20,511 $2.9M No change
COP Conocophillips 0.03% 30,500 $2.9M Add +3.9%
CVS CVS Health Corp. 0.03% 37,589 $2.8M Add +249.7%
CRWD CrowdStrike Holdings Inc. Class A 0.02% 5,696 $2.8M Reduce -16.5%
WDAY Workday Inc. Class A 0.02% 11,575 $2.8M No change
B Barrick Mining Corp. 0.02% 81,623 $2.7M Reduce -19.4%
AMP Ameriprise Financial Inc. 0.02% 5,223 $2.6M Add +8.9%
SNPS Synopsys Inc. 0.02% 5,026 $2.5M Reduce -15.2%
DHR Danaher Corp. 0.02% 12,497 $2.5M Reduce -2.5%
DBEU Xtrackers MSCI Europe Hedged 0.02% 53,204 $2.5M Reduce -34.7%
IWM iShares Russell 2000 ETF 0.02% 9,774 $2.4M Reduce -80.6%
EQIX Equinix Inc. 0.02% 2,979 $2.3M Add +3.8%
ILMN Illumina Inc. 0.02% 24,294 $2.3M Add +1.1%
DHI D.R. Horton Inc. 0.02% 13,344 $2.3M Reduce -43.9%
UTHR United Therapeutics Corp. 0.02% 5,071 $2.1M No change
IEUR iShares Core MSCI Europe ETF 0.02% 30,419 $2.1M New
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.02% 4,305 $2.0M Add +79.0%
ORLY O'reilly Automotive Inc. 0.02% 18,484 $2.0M Add +2.3%
PEP Pepsico Inc. 0.02% 14,102 $2.0M Reduce -84.9%
ECH iShares MSCI Chile ETF 0.02% 60,018 $2.0M Reduce -14.2%
OKE Oneok Inc. 0.02% 26,612 $1.9M Reduce -0.8%
EME Emcor Group Inc. 0.02% 2,929 $1.9M No change
MCK McKesson Corp. 0.02% 2,412 $1.9M Reduce -2.7%
AWI Armstrong World Industries 0.02% 9,470 $1.9M No change
PBR Petroleo Brasileiro-Spon ADR 0.02% 146,387 $1.9M Reduce -50.2%
SCCO Southern Copper Corp. 0.02% 15,160 $1.8M Add +1.0%
DTCR Global X Data Center & Digit 0.02% 88,227 $1.8M New
ABNB Airbnb Inc. Class A 0.02% 14,814 $1.8M Add +12.3%
LRN Stride Inc. 0.02% 11,969 $1.8M Add +6.3%
PDD PDD Holdings Inc. 0.02% 13,059 $1.7M Reduce -13.4%
UPS United Parcel Service Class B 0.02% 20,651 $1.7M Add +34.2%
FWONK Liberty Media Corp. Class C 0.01% 16,133 $1.7M New
IT Gartner Inc. 0.01% 6,403 $1.7M Add +74.1%
SYF Synchrony Financial 0.01% 23,268 $1.7M No change
FICO Fair Isaac Corp. 0.01% 1,093 $1.6M Add +24.2%
LII Lennox International Inc. 0.01% 3,054 $1.6M Add +17.0%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.01% 10,699 $1.6M Add +30.8%
LOW Lowe's Cos Inc. 0.01% 6,314 $1.6M Add +58.2%
RMD Resmed Inc. 0.01% 5,775 $1.6M No change
MSCI MSCI Inc. 0.01% 2,769 $1.6M Add +6.4%
TGT Target Corp. 0.01% 17,461 $1.6M Reduce -7.4%
GDDY GoDaddy Inc. Class A 0.01% 11,142 $1.5M Add +36.0%
SYK Stryker Corp. 0.01% 4,119 $1.5M Reduce -8.0%
MANH Manhattan Associates Inc. 0.01% 7,322 $1.5M No change
RIO Rio Tinto PLC-Spon ADR 0.01% 22,625 $1.5M Reduce -19.1%
SNY Sanofi-ADR 0.01% 31,337 $1.5M Reduce -9.6%
ALSN Allison Transmission Holding 0.01% 17,041 $1.4M Add +8.0%
APP AppLovin Corp. Class A 0.01% 2,008 $1.4M New
MKSI MKS Inc. 0.01% 11,499 $1.4M Reduce -24.5%
GMF State Street SPDR S&P Emergi 0.01% 10,227 $1.4M Reduce -51.9%
T AT&T Inc. 0.01% 50,144 $1.4M Reduce -56.5%
IXC iShares Global Energy ETF 0.01% 33,689 $1.4M Reduce -3.7%
XOP SS SPDR S&P Og Exp & Prod 0.01% 10,282 $1.4M No change
MDB Mongodb Inc. 0.01% 4,378 $1.4M No change
FEZ State Street SPDR Euro Stoxx 0.01% 21,754 $1.4M Reduce -37.8%
EXPE Expedia Group Inc. 0.01% 6,206 $1.3M Add +286.7%
FISV Fiserv Inc. 0.01% 10,237 $1.3M Reduce -5.3%
NEM Newmont Corp. 0.01% 15,258 $1.3M Reduce -88.1%
EWW iShares MSCI Mexico ETF 0.01% 18,738 $1.3M Add +3.5%
USFR Wisdomtree Floating Rate Tre 0.01% 25,365 $1.3M No change
SO The Southern Co. 0.01% 13,221 $1.3M Add +21.1%
MELI MercadoLibre Inc. 0.01% 517 $1.2M Reduce -81.2%
TIMB Tim SA-ADR 0.01% 53,821 $1.2M Add +2.5%
UBS UBS Group AG-Reg 0.01% 28,904 $1.2M Reduce -52.7%
FXI iShares China Large-Cap ETF 0.01% 27,445 $1.1M Add +10.9%
OXY Occidental Petroleum Corp. 0.01% 23,803 $1.1M Reduce -27.5%
LAUR Laureate Education Inc. 0.01% 35,532 $1.1M Reduce -2.0%
CBRE CBRE Group Inc. Class A 0.01% 7,060 $1.1M Reduce -7.0%
VTR Ventas Inc. 0.01% 15,802 $1.1M Reduce -89.0%
FTV Fortive Corp. 0.01% 22,151 $1.1M Add +9.4%
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 0.01% 44,228 $1.1M Reduce -29.0%
HOOD Robinhood Markets Inc. Class A 0.01% 7,452 $1.1M Reduce -87.9%
MRSH Marsh & McLennan Cos 0.01% 5,247 $1.1M Reduce -31.8%
XLI SS Industrial Select Sector 0.01% 6,838 $1.1M Add +21.9%
VIST Vista Energy Sab DE CV 0.01% 30,086 $1.0M Add +285.6%
NTES Netease Inc.-ADR 0.01% 6,484 $986K Add +2.3%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.01% 61,053 $977K Reduce -45.6%
CQQQ Invesco China Technology ETF 0.01% 16,430 $970K Add +107.5%
VRT Vertiv Holdings Co. Class A 0.01% 6,363 $960K New
ROKU Roku Inc. 0.01% 9,125 $914K New
JBL Jabil Inc. 0.01% 4,180 $908K New
SPEM State Street SP PTF Em ETF 0.01% 19,315 $904K Reduce -25.4%
KGC Kinross Gold Corp. 0.01% 35,948 $893K New
ONON On Holding AG Class A filed as ON HLDG AG 0.01% 20,830 $882K Add +44.4%
EWC iShares MSCI Canada ETF 0.01% 17,400 $880K Reduce -0.8%
BX Blackstone Inc. 0.01% 5,125 $876K Reduce -40.6%
XLRE SS Real Estate Select Sector 0.01% 20,332 $857K Add +71.3%
MPWR Monolithic Power Systems Inc. 0.01% 892 $821K Reduce -22.0%
STLD Steel Dynamics Inc. 0.01% 5,720 $798K Add +10.0%
AMBA Ambarella Inc. 0.01% 9,446 $779K New
ALB Albemarle Corp. 0.01% 9,558 $775K Reduce -78.1%
DUOL Duolingo 0.01% 2,387 $768K Add +96.8%
EQT Eqt Corp. 0.01% 14,080 $766K No change
INVZ Innoviz Technologies Ltd. 0.01% 367,492 $750K Reduce -8.7%
DINO HF Sinclair Corp. 0.01% 13,940 $730K New
UPST Upstart Holdings Inc. 0.01% 14,000 $711K Reduce -9.5%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.01% 16,429 $706K Reduce -38.1%
EZU iShares MSCI Eurozone ETF 0.01% 11,295 $700K No change
GAP The Gap Inc. 0.01% 32,295 $691K Reduce -25.9%
LULU Lululemon Athletica Inc. 0.01% 3,870 $689K Reduce -24.4%
AS Amer Sports Inc. 0.01% 19,781 $687K New
IOT Samsara Inc. Class A 0.01% 18,402 $685K New
IDCC Interdigital Inc. 0.01% 1,945 $671K New
APEI American Public Education 0.01% 16,956 $669K Reduce -1.4%
EOG EOG Resources Inc. 0.01% 5,275 $591K Reduce -10.6%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.01% 1,895 $587K Add +17.6%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.01% 4,492 $579K Add +52.7%
ASHR Xtrackers Harvest Csi 300 CH 0.01% 17,376 $573K Add +12.1%
STZ Constellation Brands Inc. Class A 0.01% 4,248 $572K Add +107.4%
MET Metlife Inc. 0.01% 6,897 $568K Reduce -4.2%
TIP iShares Tips Bond ETF 0.01% 5,098 $567K No change
SOFI Sofi Technologies Inc. 0.00% 20,879 $552K New
RIOT Riot Platforms Inc. 0.00% 27,812 $529K New
PLD Prologis Inc. 0.00% 4,572 $524K Reduce -10.8%
QSR Restaurant Brands Intern 0.00% 7,787 $499K Reduce -33.9%
ITUB Itau Unibanco H-Spon PRF ADR 0.00% 67,787 $498K Reduce -6.9%
AMRZ Amrize Ltd. 0.00% 10,177 $494K Reduce -1.6%
LIN Linde PLC 0.00% 1,031 $490K Add +13.8%
SPDW Ste STR SPDR PT DW Eu ETF 0.00% 11,437 $489K Add +19.6%
LOGI Logitech International-Reg 0.00% 4,441 $487K Reduce -42.9%
BOX Box Inc. Class A 0.00% 14,610 $471K New
RCL Royal Caribbean Cruises Ltd. 0.00% 1,430 $463K Reduce -31.1%
CMG Chipotle Mexican Grill Inc. 0.00% 11,796 $462K Reduce -67.4%
ROST Ross Stores Inc. 0.00% 3,030 $462K Reduce -17.2%
TFC Truist Financial Corp. 0.00% 10,021 $458K Reduce -16.7%
CCEP Coca-Cola Europacific Partne 0.00% 5,000 $452K New
ANF Abercrombie & Fitch Co. Class A 0.00% 5,198 $445K New
CEMB iShares JP Morgan Em Corpora 0.00% 9,610 $444K No change
DLR Digital Realty Trust Inc. 0.00% 2,557 $442K Add +24.2%
VCSH Vanguard S/T Corp. Bond ETF 0.00% 5,386 $431K Reduce -0.7%
BLOK Amplify Blockchain Tech ETF 0.00% 6,148 $412K Reduce -6.1%
SPLB SS SPDR P Long Term C ETF 0.00% 17,822 $412K No change
DUK Duke Energy Corp. 0.00% 3,288 $407K Add +34.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.00% 3,637 $405K Reduce -70.6%
CI The Cigna Group 0.00% 1,402 $404K Reduce -4.6%
SPOT Spotify Technology SA 0.00% 572 $399K Add +22.8%
MTH Meritage Homes Corp. 0.00% 5,452 $395K Add +28.8%
CDNS Cadence Design SYS Inc. 0.00% 1,095 $385K Reduce -13.4%
WEC WEC Energy Group Inc. 0.00% 3,354 $384K New
LDOS Leidos Holdings Inc. 0.00% 2,020 $382K Reduce -19.2%
SKYY First Trust Cloud Computing 0.00% 2,770 $372K Add +7.4%
SBSW Sibanye-Stillwater Ltd.-ADR 0.00% 32,926 $370K No change
DELL Dell Technologies -C 0.00% 2,596 $368K Reduce -39.6%
LEN Lennar Corp. Class A 0.00% 2,839 $358K Reduce -8.8%
CTSH Cognizant Tech Solutions-A 0.00% 5,335 $358K Reduce -17.3%
FITB Fifth Third Bancorp 0.00% 7,953 $354K Reduce -18.0%
WDC Western Digital Corp. 0.00% 2,924 $351K Reduce -82.7%
IEV iShares Europe ETF 0.00% 5,343 $350K Add +10.4%
LNT Alliant Energy Corp. 0.00% 5,189 $350K New
BBD Banco Bradesco-ADR 0.00% 102,744 $347K Reduce -41.1%
USB US Bancorp 0.00% 7,164 $346K Reduce -25.0%
ICLN iShares Global Clean Energy 0.00% 22,280 $345K Add +23.4%
DDOG Datadog Inc. Class A 0.00% 2,421 $345K New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.00% 3,153 $344K New
PKW Invesco Buyback Achievers Et 0.00% 2,554 $338K No change
CRWV Coreweave Inc. Class A 0.00% 2,455 $336K Add +7.9%
PHO Invesco Water Resources ETF 0.00% 4,570 $330K Reduce -27.5%
FIS Fidelity National Info Serv 0.00% 4,923 $325K Reduce -18.1%
CPAY Corpay Inc. 0.00% 1,095 $315K Reduce -15.0%
URI United Rentals Inc. 0.00% 325 $310K Reduce -11.9%
CARR Carrier Global Corp. 0.00% 5,188 $310K Reduce -17.2%
EW Edwards Lifesciences Corp. 0.00% 3,974 $309K New
NXTG First Trust Indxx Nextg ETF 0.00% 2,940 $305K Reduce -9.5%
IYW iShares Ustechnology ETF 0.00% 1,548 $303K No change
SE Sea Ltd.-ADR 0.00% 1,665 $298K Reduce -1.2%
EWA iShares MSCI Australia ETF 0.00% 10,996 $297K Add +0.5%
REAL The Realreal Inc. filed as THE REALREAL INC 0.00% 27,844 $296K No change
BKR Baker Hughes Co. 0.00% 6,069 $296K Reduce -15.6%
PCG P G & E Corp. 0.00% 19,521 $294K Reduce -10.3%
MO Altria Group Inc. 0.00% 4,412 $291K Reduce -15.6%
GEV GE Vernova Inc. 0.00% 456 $280K Reduce -13.1%
TTEK Tetra Tech Inc. 0.00% 8,371 $279K New
MLM Martin Marietta Materials 0.00% 439 $277K Reduce -31.8%
MAS Masco Corp. 0.00% 3,893 $274K Reduce -14.4%
KDP Keurig Dr Pepper Inc. 0.00% 10,623 $271K Add +32.9%
XBI SS SPDR S&P Biotech ETF 0.00% 2,701 $271K Reduce -87.7%
KOS Kosmos Energy Ltd. 0.00% 161,920 $269K Add +236.6%
LMND Lemonade Inc. 0.00% 4,835 $259K New
CIBR First Trust Nasdaq Cybersecu 0.00% 3,390 $258K Add +11.2%
EWL iShares MSCI Switzerland ETF 0.00% 4,663 $258K Reduce -21.9%
SMCI Super Micro Computer Inc. 0.00% 5,354 $257K Add +10.6%
KLAC KLA Corp. 0.00% 236 $255K Reduce -1.3%
DSI iShares ESG MSCI KLD 400 ETF 0.00% 2,000 $252K No change
SPIP SS SPDR P Tips ETF 0.00% 9,548 $251K No change
CHD Church & Dwight Co. Inc. 0.00% 2,769 $243K Reduce -19.3%
GM General Motors Co. 0.00% 3,962 $242K Reduce -78.7%
SBAC SBA Communications Corp. 0.00% 1,217 $235K Reduce -15.0%
RF Regions Financial Corp. 0.00% 8,890 $234K New
HUM Humana Inc. 0.00% 893 $232K Reduce -1.9%
AMT American Tower Corp. 0.00% 1,200 $231K Reduce -9.4%
VCR Vanguard Consumer Discre ETF 0.00% 582 $231K No change
HCA HCA Healthcare Inc. 0.00% 526 $224K Reduce -19.4%
CATH Global X S&P 500 Ca Val ETF 0.00% 2,736 $222K No change
FXZ First Trust Materials Alphad 0.00% 3,580 $220K New
ARCC Ares Capital Corp. 0.00% 10,779 $220K No change
SHOP Shopify Inc. Class A 0.00% 1,474 $219K Reduce -76.3%
APO Apollo Global Management Inc. 0.00% 1,642 $219K New
CCL Carnival Corp. 0.00% 7,536 $218K Add +0.9%
PAM Pampa Energia SA-Spon ADR 0.00% 3,548 $213K Reduce -16.5%
EMB iShares JP Morgan Usd Emergi 0.00% 2,238 $213K Reduce -94.5%
PHM Pultegroup Inc. 0.00% 1,601 $212K New
HAL Halliburton Co. 0.00% 8,594 $211K Reduce -98.2%
PRU Prudential Financial Inc. 0.00% 2,020 $210K No change
CHTR Charter Communications Inc. Class A 0.00% 756 $208K Reduce -16.4%
RSG Republic Services Inc. 0.00% 900 $207K Reduce -3.0%
D Dominion Energy Inc. 0.00% 3,357 $205K Reduce -20.7%
PCAR Paccar Inc. 0.00% 2,048 $201K Reduce -34.9%
MARA Mara Holdings Inc. 0.00% 10,702 $195K New
PTON Peloton Interactive Inc. Class A 0.00% 20,989 $189K Reduce -35.0%
SMCY YM Smci Opt Income Strat ETF 0.00% 11,012 $170K New
KVUE Kenvue Inc. 0.00% 10,430 $169K Reduce -15.8%
LAR Lithium Argentina AG 0.00% 47,356 $158K Add +5.3%
NOV Nov Inc. 0.00% 11,300 $150K New
KULR Kulr Technology Group Inc. 0.00% 33,777 $141K New
CEPU Central Puerto-Sponsored ADR 0.00% 17,240 $138K New
SNAP Snap Inc. Class A 0.00% 14,259 $110K New
LOMA Loma Negra Cia Ind-Spon ADR 0.00% 13,640 $101K New
GSM Ferroglobe PLC 0.00% 14,859 $68K No change
CERS Cerus Corp. 0.00% 26,490 $42K No change
ABEV Ambev SA-ADR 0.00% 18,083 $40K No change
PLUG Plug Power Inc. 0.00% 13,274 $31K No change
BYND Beyond Meat Inc. 0.00% 13,168 $25K New
MVIS Microvision Inc. 0.00% 13,276 $16K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $432K (not counted above)
SecurityClassShares / PrincipalValueChange
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 6,203$432KNew

Total filed on the 13F, all lines: $11.3B.

Portfolio Sells Q2 2025 → Q3 2025

NRG NRG Energy Inc. Sold out 0.00% −3.37
STLA Stellantis NV Reduce -11.3% 0.79% −0.23
RACE Ferrari NV Reduce -0.6% 2.49% −0.22
RSP Invesco S&P 500 Equal Weight Reduce -32.2% 0.39% −0.20
NFLX Netflix Inc. Reduce -5.6% 0.71% −0.19
TLT iShares 20+ Year Treasury BD Reduce -79.2% 0.04% −0.18
BAC Bank of America Corp. Reduce -26.4% 0.51% −0.17
MRK Merck & Co. Inc. Reduce -58.3% 0.12% −0.16
ADSK Autodesk Inc. Reduce -51.5% 0.14% −0.16
FER Ferrovial NV Reduce -8.8% 2.01% −0.15
MDLZ Mondelez International Inc. Class A Reduce -74.9% 0.03% −0.12
PM Philip Morris International Reduce -39.4% 0.12% −0.12
EPC Edgewell Personal Care Co. Sold out 0.00% −0.11
VCIT Vanguard Int-Term Corporate Reduce -48.8% 0.11% −0.11
IEF iShares 7-10 Year Treasury B Reduce -24.6% 0.27% −0.11
ECL Ecolab Inc. Sold out 0.00% −0.11
ELF Elf Beauty Inc. Sold out 0.00% −0.10
ACWI iShares MSCI Acwi ETF Reduce -21.9% 0.37% −0.10
V Visa Inc. Class A Reduce -2.1% 0.73% −0.10
PEP Pepsico Inc. Reduce -84.9% 0.02% −0.10
COIN Coinbase Global Inc. Class A Reduce -22.6% 0.22% −0.10
HAL Halliburton Co. Reduce -98.2% 0.00% −0.09
EWJ iShares MSCI Japan ETF Reduce -34.0% 0.18% −0.09
SPY SS SPDR S&P 500 ETF Trust-US Reduce -6.5% 1.44% −0.09
KR Kroger Co. Reduce -44.8% 0.08% −0.09
IWM iShares Russell 2000 ETF Reduce -80.6% 0.02% −0.08
XOM Exxon Mobil Corp. Reduce -11.9% 0.51% −0.08
ICE Intercontinental Exchange Inc. Reduce -5.7% 0.33% −0.08
VTR Ventas Inc. Reduce -89.0% 0.01% −0.08
VERX Vertex Inc. Class A Reduce -47.4% 0.04% −0.07
ARMK Aramark Sold out 0.00% −0.07
TXRH Texas Roadhouse Inc. Sold out 0.00% −0.07
UBER Uber Technologies Inc. Reduce -14.7% 0.34% −0.07
VT Vanguard Tot World STK ETF Reduce -54.6% 0.05% −0.06
EXPD Expeditors Intl Wash Inc. Reduce -64.3% 0.03% −0.06
NEM Newmont Corp. Reduce -88.1% 0.01% −0.06
MELI MercadoLibre Inc. Reduce -81.2% 0.01% −0.06
SNOW Snowflake Inc. Reduce -59.4% 0.04% −0.06
NVO Novo-Nordisk A/S-Spons ADR Reduce -42.9% 0.04% −0.06
VGK Vanguard Ftse Europe ETF Reduce -12.7% 0.29% −0.06
UNH Unitedhealth Group Inc. Reduce -24.5% 0.20% −0.06
DTE DTE Energy Company Sold out 0.00% −0.05
CL Colgate-Palmolive Co. Reduce -9.8% 0.15% −0.05
PGR Progressive Corp. Reduce -9.8% 0.17% −0.05
SHEL Shell PLC-ADR Sold out 0.00% −0.05
CMCSA Comcast Corp. Class A Reduce -3.2% 0.19% −0.05
HOOD Robinhood Markets Inc. Class A Reduce -87.9% 0.01% −0.05
EWZ iShares MSCI Brazil ETF Reduce -50.8% 0.04% −0.04
TTE Totalenergies SE -Spon ADR Sold out 0.00% −0.04
NVS Novartis AG-Sponsored ADR Reduce -51.4% 0.03% −0.04

Portfolio Buys Q2 2025 → Q3 2025

NVDA Nvidia Corp. Add +20.0% 5.06% +1.24
DB Deutsche Bank AG-Registered Add +4258.7% 1.22% +1.20
TSLA Tesla Inc. Add +61.2% 1.75% +0.92
AAPL Apple Inc. Add +13.2% 2.96% +0.70
AMZN Amazon.com Inc. Add +32.0% 3.00% +0.57
REGN Regeneron Pharmaceuticals Add +263.7% 0.36% +0.26
GLD SPDR Gold Shares Add +20.9% 1.02% +0.25
VOO Vanguard S&P 500 ETF Add +22.8% 1.20% +0.23
HON Honeywell International Inc. New 0.18% +0.18
WMT Walmart Inc. Add +30.1% 0.78% +0.17
KKR KKR & Co. Inc. Add +5405.9% 0.17% +0.16
AVGO Broadcom Inc. Add +0.5% 1.45% +0.16
UNP Union Pacific Corp. Add +1326.5% 0.17% +0.16
EL Estee Lauder Companies Class A Add +3798.4% 0.15% +0.15
VWO Vanguard Ftse Emerging Marke Add +72.5% 0.33% +0.14
XSVM Invesco S&P Smallcap Value W New 0.13% +0.13
MRVL Marvell Technology Inc. Add +62.5% 0.33% +0.13
JPM JPMorgan Chase & Co. Add +9.1% 1.27% +0.12
C Citigroup Inc. Add +14.4% 0.56% +0.12
IR Ingersoll-Rand Inc. Add +537.8% 0.14% +0.12
LLY Eli Lilly & Co. Add +28.5% 0.75% +0.11
FAST Fastenal Co. New 0.11% +0.11
CTVA Corteva Inc. New 0.11% +0.11
CAT Caterpillar Inc. Add +17.2% 0.41% +0.11
LRCX Lam Research Corp. Add +19.6% 0.30% +0.10
BMY Bristol-Myers Squibb Co. Add +108.6% 0.20% +0.10
INTU Intuit Inc. Add +164.1% 0.18% +0.09
PYPL PayPal Holdings Inc. Add +99.0% 0.21% +0.08
GE General Electric Add +20.4% 0.33% +0.08
ANET Arista Networks Inc. Add +458.7% 0.09% +0.08
ADBE Adobe Inc. Add +52.3% 0.34% +0.08
DOV Dover Corp. New 0.08% +0.08
LILAK Liberty Latin Americ Class C Add +899.7% 0.08% +0.08
NEE Nextera Energy Inc. Add +110.0% 0.14% +0.07
MSFT Microsoft Corp. Add +4.8% 3.83% +0.07
SCHW Schwab (charles) Corp. Add +56.6% 0.21% +0.07
MS Morgan Stanley Add +6.6% 0.60% +0.07
HUBS HubSpot Inc. New 0.06% +0.06
MLI Mueller Industries Inc. New 0.06% +0.06
DRI Darden Restaurants Inc. New 0.06% +0.06
CSX CSX Corp. Add +1333.2% 0.06% +0.06
TJX TJX Companies Inc. Add +24.6% 0.21% +0.05
RL Ralph Lauren Corp. Add +656.1% 0.06% +0.05
SHY iShares 1-3 Year Treasury Bo New 0.05% +0.05
FIX Comfort Systems USA Inc. New 0.05% +0.05
URTH iShares MSCI World ETF Add +14.6% 0.38% +0.05
HAS Hasbro Inc. New 0.05% +0.05
COST Costco Wholesale Corp. Add +41.0% 0.26% +0.05
ABBV Abbvie Inc. Add +0.7% 0.32% +0.05
QQQ Invesco QQQ Trust Series 1 Add +17.0% 0.28% +0.04

Notes & Other Activity Q2 2025 → Q3 2025

SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) 6 SER A CNV PREF Sold out 38,700 $4.5Mbefore exit
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 Sold out 50,000 $2.4Mbefore exit
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A New 6,203 $432K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 509$16.1BBSBR, MSFT, NVDA, FER, AAPL
Q1 2026 468$12.4BBSBR, MSFT, FER, NVDA, TTE
Q4 2025 458$13.4BBSBR, FER, NVDA, MSFT, AAPL
Q3 2025 470$11.3BBSBR, NVDA, MSFT, AMZN, AAPL
Q2 2025Amended 479$10.5BBSBR, NVDA, MSFT, NRG, RACE
Q1 2025 476$9.1BBSBR, FER, NVDA, MSFT, NRG
Q4 2024 447$8.3BBSBR, NVDA, FER, MSFT, NRG
Q3 2024 443$8.5BBSBR, MSFT, NVDA, NRG, AAPL
Q2 2024 402$8.1BBSBR, MSFT, NVDA, COTY, NRG
Q1 2024 417$8.3BBSBR, MSFT, RACE, COTY, NVDA