Barclays PLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Barclays PLC reported 4,173 stock positions worth $248.7 billion. Its top holding was Nvidia (NVDA) at 5.2% of the portfolio, followed by Microsoft (MSFT, 4.7%) and Apple (AAPL, 3.8%). Compared with Q3 2025, it opened 225 new positions, sold out of 456, added to 2,359 and reduced 1,434. The biggest buy was Micron Technology (MU, shares +28%) and the biggest sale Nvidia (NVDA, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0000312069
- Portfolio Value
- $248.7B (Q4 2025)
- SEC Filing
- 0000312069-26-000069 ↗ filed Feb 13, 2026
Holdings Value
Holdings 4,173 stocks · $248.7B
| NVDA Nvidia Corp. | 5.25% | 70,011,205 | $13.1B | Reduce -19.9% |
| MSFT Microsoft Corp. | 4.69% | 24,113,170 | $11.7B | Reduce -11.4% |
| AAPL Apple Inc. | 3.80% | 34,770,785 | $9.5B | Reduce -16.9% |
| AMZN Amazon.com Inc. | 3.23% | 34,830,770 | $8.0B | Reduce -9.4% |
| GOOGL Alphabet Inc. Class A | 2.80% | 22,247,264 | $7.0B | Reduce -1.7% |
| TSLA Tesla Inc. | 2.45% | 13,568,556 | $6.1B | Reduce -16.8% |
| AVGO Broadcom Inc. | 2.43% | 17,451,316 | $6.0B | Reduce -12.1% |
| META Meta Platforms Inc. Class A | 2.12% | 7,982,134 | $5.3B | Add +9.6% |
| GOOG Alphabet Inc. Class C | 1.60% | 12,648,664 | $4.0B | Add +2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.40% | 6,943,440 | $3.5B | Add +0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.35% | 4,937,976 | $3.4B | Reduce -11.9% |
| V Visa Inc. Class A | 1.31% | 9,282,477 | $3.3B | Add +9.3% |
| JPM JPMorgan Chase & Co. | 1.26% | 9,749,773 | $3.1B | Reduce -30.7% |
| AMD Advanced Micro Devices | 1.10% | 12,758,576 | $2.7B | Reduce -3.5% |
| MU Micron Technology Inc. | 1.00% | 8,676,488 | $2.5B | Add +27.7% |
| PLTR Palantir Technologies Inc. Class A | 0.87% | 12,232,574 | $2.2B | Reduce -7.4% |
| NFLX Netflix Inc. | 0.87% | 23,067,741 | $2.2B | Add +18.5% |
| MA Mastercard Inc. Class A | 0.64% | 2,808,706 | $1.6B | Reduce -22.1% |
| LLY Eli Lilly & Co. | 0.61% | 1,403,667 | $1.5B | Reduce -7.1% |
| AMAT Applied Materials Inc. | 0.52% | 5,052,327 | $1.3B | Add +24.4% |
| GS Goldman Sachs Group Inc. | 0.52% | 1,476,945 | $1.3B | Add +5.9% |
| ISRG Intuitive Surgical Inc. | 0.51% | 2,234,880 | $1.3B | Add +11.6% |
| ORCL Oracle Corp. | 0.50% | 6,329,484 | $1.2B | Add +13.3% |
| COST Costco Wholesale Corp. | 0.49% | 1,425,262 | $1.2B | Reduce -1.6% |
| AEP American Electric Power | 0.49% | 10,626,841 | $1.2B | Add +0.6% |
| LRCX Lam Research Corp. | 0.48% | 6,977,951 | $1.2B | Reduce -31.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.47% | 21,209,528 | $1.2B | Add +1.2% |
| HON Honeywell International Inc. | 0.47% | 5,969,873 | $1.2B | Reduce -34.8% |
| HD Home Depot Inc. | 0.46% | 3,358,953 | $1.2B | Add +7.1% |
| INTC Intel Corp. | 0.45% | 30,384,082 | $1.1B | Reduce -13.5% |
| GILD Gilead Sciences Inc. | 0.45% | 9,115,483 | $1.1B | Add +76.2% |
| CSCO Cisco Systems Inc. | 0.45% | 14,418,516 | $1.1B | Reduce -21.9% |
| ABBV Abbvie Inc. | 0.44% | 4,840,145 | $1.1B | Reduce -1.1% |
| UNH Unitedhealth Group Inc. | 0.43% | 3,274,642 | $1.1B | Reduce -13.6% |
| INTU Intuit Inc. | 0.41% | 1,546,907 | $1.0B | Reduce -19.4% |
| ADI Analog Devices Inc. | 0.40% | 3,693,930 | $1.0B | Add +43.3% |
| MCD McDonald's Corp. | 0.40% | 3,225,180 | $985.7M | Add +4.4% |
| QCOM Qualcomm Inc. | 0.39% | 5,712,669 | $977.2M | Reduce -38.5% |
| TMO Thermo Fisher Scientific Inc. | 0.39% | 1,669,734 | $967.5M | Reduce -19.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.38% | 3,123,756 | $949.3M | Reduce -40.5% |
| JNJ Johnson & Johnson | 0.37% | 4,455,161 | $922.0M | Reduce -21.0% |
| TXN Texas Instruments Inc. | 0.36% | 5,160,758 | $895.3M | Add +4.5% |
| MCHP Microchip Technology Inc. | 0.36% | 13,996,883 | $891.9M | Add +66.5% |
| LIN Linde PLC | 0.36% | 2,090,993 | $891.6M | Reduce -9.7% |
| IWM iShares Russell 2000 ETF | 0.35% | 3,533,449 | $869.8M | Add +28.0% |
| ADBE Adobe Inc. | 0.34% | 2,407,660 | $842.7M | Reduce -0.2% |
| KLAC KLA Corp. | 0.34% | 686,218 | $833.8M | Reduce -19.1% |
| GE General Electric filed as GE AEROSPACE | 0.33% | 2,688,016 | $828.0M | Reduce -13.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.33% | 2,766,848 | $819.6M | Reduce -11.6% |
| NOW ServiceNow Inc. | 0.33% | 5,309,718 | $813.4M | Reduce -7.7% |
| XOM Exxon Mobil Corp. | 0.32% | 6,660,107 | $801.5M | Reduce -37.7% |
| CRM Salesforce Inc. | 0.32% | 3,014,498 | $798.6M | Reduce -27.8% |
| WMT Walmart Inc. | 0.32% | 7,064,154 | $787.0M | Reduce -46.3% |
| PANW Palo Alto Networks Inc. | 0.30% | 4,095,982 | $754.5M | Reduce -29.4% |
| APP AppLovin Corp. Class A | 0.30% | 1,118,426 | $753.6M | Add +20.5% |
| AXP American Express Co. | 0.30% | 1,999,601 | $739.8M | Reduce -28.9% |
| XEL Xcel Energy Inc. | 0.30% | 9,979,397 | $737.1M | Add +63.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 1,192,395 | $732.5M | Add +34.5% |
| GPN Global Payments Inc. | 0.29% | 9,297,502 | $719.6M | Add +38.1% |
| CRH CRH PLC | 0.29% | 5,745,562 | $717.0M | Add +20.7% |
| TLT iShares 20+ Year Treasury BD | 0.29% | 8,226,708 | $717.0M | Add +29.8% |
| WFC Wells Fargo & Co. | 0.29% | 7,625,089 | $710.7M | Reduce -19.0% |
| APH Amphenol Corp. Class A | 0.28% | 5,106,751 | $690.1M | Reduce -24.5% |
| XLP SS Consumer Staples Sel Sect | 0.27% | 8,762,618 | $680.7M | Reduce -0.3% |
| CAT Caterpillar Inc. | 0.26% | 1,147,830 | $657.6M | Reduce -2.5% |
| MS Morgan Stanley | 0.26% | 3,598,399 | $638.8M | Reduce -14.8% |
| TMUS T-Mobile US Inc. | 0.25% | 3,122,259 | $633.9M | Reduce -0.9% |
| AMGN Amgen Inc. | 0.25% | 1,920,495 | $628.6M | Reduce -28.8% |
| HCA HCA Healthcare Inc. | 0.25% | 1,322,211 | $617.3M | Add +7.4% |
| VLO Valero Energy Corp. | 0.24% | 3,737,050 | $608.4M | Reduce -9.8% |
| PM Philip Morris International | 0.24% | 3,672,915 | $589.1M | Reduce -33.5% |
| IYR iShares US Real Estate ETF | 0.24% | 6,260,125 | $587.8M | Add +1.6% |
| MCO Moody's Corp. | 0.24% | 1,149,939 | $587.4M | Add +20.2% |
| BKNG Booking Holdings Inc. | 0.23% | 108,939 | $583.4M | Reduce -22.9% |
| PH Parker Hannifin Corp. | 0.23% | 654,276 | $575.1M | Add +25.5% |
| ADP Automatic Data Processing | 0.23% | 2,230,041 | $573.6M | Reduce -6.1% |
| PG The Procter & Gamble Co. | 0.23% | 3,913,366 | $560.8M | Reduce -34.0% |
| SPOT Spotify Technology SA | 0.23% | 963,707 | $559.6M | Add +202.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.22% | 1,187,815 | $556.8M | Add +30.6% |
| USB US Bancorp | 0.22% | 10,306,218 | $549.9M | Reduce -4.6% |
| MPWR Monolithic Power Systems Inc. | 0.22% | 604,802 | $548.2M | Add +67.0% |
| KVUE Kenvue Inc. | 0.22% | 31,747,636 | $547.6M | Add +511.2% |
| RTX RTX Corp. | 0.22% | 2,976,131 | $545.8M | Reduce -14.1% |
| PEP Pepsico Inc. | 0.22% | 3,802,551 | $545.7M | Reduce -70.6% |
| XLC SS Comm Select Sector SPDR | 0.21% | 4,392,064 | $517.0M | Reduce -13.0% |
| C Citigroup Inc. | 0.21% | 4,412,271 | $514.9M | Reduce -41.7% |
| HOOD Robinhood Markets Inc. Class A | 0.21% | 4,518,105 | $511.0M | Add +77.5% |
| WDAY Workday Inc. Class A | 0.20% | 2,372,292 | $509.5M | Add +3.4% |
| FER Ferrovial NV | 0.20% | 7,809,502 | $504.6M | Add +75.0% |
| MRK Merck & Co. Inc. | 0.20% | 4,773,686 | $502.5M | Reduce -36.5% |
| SHW The Sherwin-Williams Co. | 0.20% | 1,544,692 | $500.5M | Reduce -23.7% |
| NXPI NXP Semiconductors NV | 0.20% | 2,283,397 | $495.6M | Add +31.5% |
| GPC Genuine Parts Co. | 0.19% | 3,901,362 | $479.7M | Add +10.6% |
| KO The Coca-Cola Co. | 0.19% | 6,792,227 | $474.8M | Reduce -39.6% |
| UBER Uber Technologies Inc. | 0.19% | 5,769,948 | $471.5M | Add +10.6% |
| ABNB Airbnb Inc. Class A | 0.19% | 3,432,246 | $465.8M | Add +97.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.19% | 4,069,208 | $463.0M | Reduce -10.2% |
| MELI MercadoLibre Inc. | 0.19% | 228,954 | $461.2M | Add +15.3% |
| XLY SS Consumer Disc Select Sect | 0.18% | 3,840,619 | $458.6M | Add +4484.2% |
| CVX Chevron Corp. | 0.18% | 2,997,536 | $456.9M | Reduce -29.4% |
Options reported separately and not counted above: SPY puts ($62.6B), QQQ puts ($11.9B), IWM puts ($7.3B), SPY calls ($7.1B), QQQ calls ($7.0B), HYG puts ($4.1B), IWM calls ($3.3B), TSLA puts ($2.9B), GOOGL puts ($2.7B), NVDA puts ($2.6B), GOOGL calls ($1.7B), MSFT calls ($1.6B), and 867 more.
Other holdings (148): bonds, preferreds, convertibles and warrants · $295.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 441,084 | $30.5M | Reduce -38.5% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 12,202,000 | $25.3M | Add +4.7% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 11,444,000 | $14.9M | Add +23.3% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 12,640,000 | $12.5M | Add +65.1% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 11,453,000 | $11.4M | Reduce -34.6% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 150,863 | $10.1M | Reduce -14.6% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 7,593,000 | $8.1M | Add +321.8% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 4,825,000 | $7.9M | Add +486.3% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 6,063,000 | $7.3M | Add +261.1% |
| NNAVW Nextnav Inc. | *W EXP 99/99/999 | 1,002,458 | $7.2M | Reduce -49.2% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 6,920,000 | $7.0M | Add +43.3% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 111,065 | $6.6M | No change |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 86,284 | $6.5M | Add +7.5% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 6,183,000 | $6.4M | Add +112.4% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 5,360,000 | $6.1M | Add +11.0% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 6,509,000 | $6.0M | Add +75.4% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 5,193,000 | $5.8M | Reduce -24.7% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 4,772,000 | $5.7M | Add +36.1% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 4,862,000 | $5.2M | Add +235.1% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 1,447,000 | $4.9M | Reduce -70.2% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 4,767,000 | $4.8M | Add +4118.6% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 91,728 | $4.7M | Add +37.5% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,013,000 | $4.6M | Reduce -83.1% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 3,139,000 | $4.6M | Add +12.6% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 4,507,000 | $4.3M | Reduce -8.0% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 781,000 | $4.2M | Reduce -67.4% |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 32,816 | $4.1M | No change |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 50,947 | $4.1M | Add +192.8% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 3,750,000 | $3.7M | Add +202.2% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 65,893 | $3.4M | Reduce -40.0% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,961,000 | $3.4M | New |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 67,317 | $3.3M | New |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 3,256,000 | $3.2M | Add +250.5% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 2,459,000 | $3.1M | Reduce -74.9% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 2,098,000 | $2.6M | Reduce -67.4% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 1,557,000 | $2.5M | Add +667.0% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 2,212,000 | $2.1M | New |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 1,357,000 | $1.9M | New |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 2,015,000 | $1.9M | New |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 34,674 | $1.7M | Reduce -67.9% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 1,592,000 | $1.7M | Add +0.1% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 1,199,000 | $1.6M | Reduce -6.0% |
| SVIAW Procap Financial Inc. | *W EXP 12/05/203 | 2,202,264 | $1.5M | New |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 27,895 | $1.5M | Reduce -44.2% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 401,000 | $1.5M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 1,354,000 | $1.4M | New |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 393,711 | $1.3M | Reduce -67.0% |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 878,000 | $1.2M | New |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 1,046,000 | $1.1M | Reduce -11.9% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 1,006,000 | $1.1M | Add +698.4% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 381,000 | $1.1M | Add +1129.0% |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | 20,687 | $1.0M | New |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 989,000 | $1.0M | Reduce -54.5% |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 546,000 | $999K | Add +326.6% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 373,000 | $968K | Add +4.2% |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 3,436,000 | $949K | New |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 13,700,000 | $822K | Add +1859.9% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 718,000 | $724K | New |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 668,000 | $667K | Reduce -12.0% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 570,000 | $639K | New |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 25,403 | $489K | Reduce -0.9% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 391,000 | $428K | Reduce -95.4% |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 425,000 | $417K | New |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 314,000 | $398K | Reduce -59.6% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 356,000 | $370K | New |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | 373,000 | $370K | No change |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 09/25/203 | 200,000 | $306K | New |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 213,000 | $301K | Reduce -83.2% |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 120,000 | $275K | Add +207.7% |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 4,457,000 | $267K | Add +1000.5% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 425,000 | $263K | Add +329.3% |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 86,707 | $261K | Add +132.4% |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 600,000 | $246K | New |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 242,000 | $224K | Reduce -26.2% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 155,000 | $221K | New |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 86,000 | $218K | Reduce -27.1% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 221,000 | $214K | Add +19.5% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 172,000 | $197K | Reduce -46.9% |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 193,000 | $196K | Add +467.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 190,000 | $188K | Add +82.7% |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 225,000 | $185K | New |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 186,000 | $181K | Add +2225.0% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 192,000 | $180K | New |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 202,000 | $180K | New |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 197,000 | $179K | New |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 181,000 | $178K | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 167,000 | $166K | Reduce -85.5% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 139,000 | $164K | Reduce -68.2% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 170,000 | $152K | Reduce -19.1% |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 93,000 | $140K | Add +86.0% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 94,000 | $134K | Reduce -63.7% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 142,000 | $131K | Reduce -33.6% |
| CNX RESOURCES CORP (CNX 2.25 05/01/26) | NOTE 2.250% 5/0 · principal | 40,000 | $114K | Add +1233.3% |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 110,000 | $110K | Add +7.8% |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 87,000 | $103K | Reduce -87.2% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 106,000 | $102K | New |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 46,000 | $87K | Add +187.5% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 55,000 | $76K | New |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 76,000 | $72K | Add +1.3% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 67,000 | $64K | Add +11.7% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 50,000 | $58K | Reduce -96.5% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 53,000 | $57K | New |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 57,000 | $55K | New |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 880 | $51K | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 50,000 | $50K | Reduce -99.0% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 27,000 | $40K | Reduce -62.0% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 27,000 | $40K | New |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 74,000 | $31K | No change |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 23,000 | $27K | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 25,000 | $25K | Reduce -99.3% |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 25,000 | $24K | Reduce -67.1% |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 24,000 | $24K | No change |
| MAKEMYTRIP LIMITED (MMYT 0 02/15/28) | NOTE 2/1 · principal | 10,000 | $21K | No change |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 21,000 | $20K | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 16,000 | $18K | Reduce -94.3% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 16,000 | $17K | Reduce -90.3% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 9,000 | $15K | Reduce -87.3% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 13,000 | $15K | Reduce -58.1% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 13,000 | $14K | Reduce -53.6% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 5,310 | $14K | No change |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 10,000 | $9K | Reduce -97.5% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 10,000 | $9K | New |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 10,000 | $9K | Reduce -84.1% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 7,000 | $7K | Reduce -99.3% |
| ASBPW Aspire Biopharma Holdin-CW27 | *W EXP 02/14/203 | 350,000 | $6K | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 1,000 | $4K | New |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 4,000 | $4K | Reduce -99.1% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 4,000 | $4K | New |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 3,000 | $4K | No change |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 1,000 | $3K | New |
| PSNYW Polestar Auto Class C-1 ADS | ADS CL C-1 | 520 | $3K | Reduce -0.1% |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 1,605 | $3K | No change |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 2,000 | $2K | New |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 2,000 | $2K | New |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 2,000 | $2K | Reduce -90.5% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 954 | $1K | New |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | 1,638 | $541 | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 527 | $474 | Reduce -66.7% |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 717 | $373 | New |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 527 | $210 | New |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | 8,333 | $137 | Reduce -96.7% |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 390 | $123 | No change |
| TGE.WS Generation Essentials - 30 | *W EXP 02/15/202 | 685 | $103 | No change |
| EXELA TECHNOLOGIES INC (XELA 6 PERP B) | 6% CONV PFD SR B | 24,900 | $50 | No change |
| PDYNW Sarcos Technology -CW27 | *W EXP 09/24/202 | 500 | $31 | No change |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 6 | $27 | Reduce -100.0% |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 500 | $10 | No change |
| SWVLW Pivotal Holdings Corp. -CW27 | *W EXP 99/99/999 | 238 | $2 | No change |
Total filed on the 13F, all lines: $249.0B.
Portfolio Sells Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Reduce -19.9% | 5.25% | −0.85 |
| MSFT Microsoft Corp. | Reduce -11.4% | 4.69% | −0.58 |
| PEP Pepsico Inc. | Reduce -70.6% | 0.22% | −0.46 |
| JPM JPMorgan Chase & Co. | Reduce -30.7% | 1.26% | −0.39 |
| TSLA Tesla Inc. | Reduce -16.8% | 2.45% | −0.26 |
| HON Honeywell International Inc. | Reduce -34.8% | 0.47% | −0.25 |
| WMT Walmart Inc. | Reduce -46.3% | 0.32% | −0.19 |
| QCOM Qualcomm Inc. | Reduce -38.5% | 0.39% | −0.18 |
| AAPL Apple Inc. | Reduce -16.9% | 3.80% | −0.18 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -40.5% | 0.38% | −0.17 |
| MDT Medtronic PLC | Reduce -67.2% | 0.09% | −0.16 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -49.4% | 0.17% | −0.14 |
| XLB SS Materials Select Sector | Reduce -73.6% | 0.06% | −0.14 |
| PANW Palo Alto Networks Inc. | Reduce -29.4% | 0.30% | −0.14 |
| XOM Exxon Mobil Corp. | Reduce -37.7% | 0.32% | −0.13 |
| MA Mastercard Inc. Class A | Reduce -22.1% | 0.64% | −0.12 |
| PG The Procter & Gamble Co. | Reduce -34.0% | 0.23% | −0.12 |
| MBB iShares MBS ETF | Reduce -42.4% | 0.17% | −0.10 |
| PM Philip Morris International | Reduce -33.5% | 0.24% | −0.10 |
| HPE Hewlett Packard Enterprise | Reduce -71.2% | 0.04% | −0.09 |
| KO The Coca-Cola Co. | Reduce -39.6% | 0.19% | −0.09 |
| PSKY Paramount Skydance Class B | Reduce -88.0% | 0.01% | −0.09 |
| VOO Vanguard S&P 500 ETF | Reduce -87.5% | 0.01% | −0.09 |
| T AT&T Inc. | Reduce -31.3% | 0.15% | −0.08 |
| C Citigroup Inc. | Reduce -41.7% | 0.21% | −0.08 |
| INTU Intuit Inc. | Reduce -19.4% | 0.41% | −0.08 |
| FLUT Flutter Entertainment PLC-Di | Reduce -62.4% | 0.04% | −0.08 |
| BURL Burlington Stores Inc. | Reduce -89.0% | 0.01% | −0.08 |
| NWSA News Corp. Class A | Reduce -38.0% | 0.10% | −0.07 |
| ALAB Astera Labs Inc. | Reduce -42.9% | 0.08% | −0.07 |
| NOW ServiceNow Inc. | Reduce -7.7% | 0.33% | −0.07 |
| CVX Chevron Corp. | Reduce -29.4% | 0.18% | −0.06 |
| EEM iShares MSCI Emerging Market | Reduce -67.1% | 0.04% | −0.06 |
| GLPI Gaming and Leisure Propertie | Reduce -86.9% | 0.01% | −0.06 |
| SHW The Sherwin-Williams Co. | Reduce -23.7% | 0.20% | −0.06 |
| KRE SS SPDR S&P Regional Bank | Reduce -64.8% | 0.04% | −0.06 |
| AZO AutoZone Inc. | Reduce -12.8% | 0.16% | −0.06 |
| MRSH Marsh & McLennan Cos | Reduce -33.6% | 0.11% | −0.06 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -13.6% | 0.43% | −0.05 |
| LIN Linde PLC | Reduce -9.7% | 0.36% | −0.05 |
| AXP American Express Co. | Reduce -28.9% | 0.30% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -43.0% | 0.07% | −0.05 |
| BKNG Booking Holdings Inc. | Reduce -22.9% | 0.23% | −0.05 |
| CRM Salesforce Inc. | Reduce -27.8% | 0.32% | −0.05 |
| ZTS Zoetis Inc. | Reduce -43.4% | 0.05% | −0.05 |
| ABT Abbott Laboratories | Reduce -21.9% | 0.16% | −0.04 |
| PGR Progressive Corp. | Reduce -19.6% | 0.17% | −0.04 |
| DD Dupont DE Nemours Inc. | Reduce -51.4% | 0.02% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -11.9% | 1.35% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| MU Micron Technology Inc. | Add +27.7% | 1.00% | +0.57 |
| GOOG Alphabet Inc. Class C | Add +2.5% | 1.60% | +0.47 |
| GILD Gilead Sciences Inc. | Add +76.2% | 0.45% | +0.24 |
| V Visa Inc. Class A | Add +9.3% | 1.31% | +0.23 |
| AMAT Applied Materials Inc. | Add +24.4% | 0.52% | +0.21 |
| KVUE Kenvue Inc. | Add +511.2% | 0.22% | +0.19 |
| XLY SS Consumer Disc Select Sect | Add +4484.2% | 0.18% | +0.18 |
| ISRG Intuitive Surgical Inc. | Add +11.6% | 0.51% | +0.17 |
| ADI Analog Devices Inc. | Add +43.3% | 0.40% | +0.17 |
| MCHP Microchip Technology Inc. | Add +66.5% | 0.36% | +0.16 |
| SPOT Spotify Technology SA | Add +202.9% | 0.23% | +0.14 |
| META Meta Platforms Inc. Class A | Add +9.6% | 2.12% | +0.12 |
| XEL Xcel Energy Inc. | Add +63.6% | 0.30% | +0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.8% | 1.40% | +0.11 |
| ABNB Airbnb Inc. Class A | Add +97.2% | 0.19% | +0.11 |
| GS Goldman Sachs Group Inc. | Add +5.9% | 0.52% | +0.11 |
| FER Ferrovial NV | Add +75.0% | 0.20% | +0.11 |
| IWM iShares Russell 2000 ETF | Add +28.0% | 0.35% | +0.10 |
| MPWR Monolithic Power Systems Inc. | Add +67.0% | 0.22% | +0.10 |
| QQQ Invesco QQQ Trust Series 1 | Add +34.5% | 0.29% | +0.10 |
| TTE Totalenergies SE | Add +10126.5% | 0.10% | +0.09 |
| BDX Becton Dickinson and Co. | Add +184.1% | 0.13% | +0.09 |
| PH Parker Hannifin Corp. | Add +25.5% | 0.23% | +0.08 |
| AZN Astrazeneca PLC-Spons ADR | Add +299.4% | 0.10% | +0.08 |
| WBD Warner Bros Discovery Inc. | Add +24.7% | 0.16% | +0.08 |
| GPN Global Payments Inc. | Add +38.1% | 0.29% | +0.08 |
| RSP Invesco S&P 500 Equal Weight | Add +176.4% | 0.12% | +0.08 |
| TLT iShares 20+ Year Treasury BD | Add +29.8% | 0.29% | +0.08 |
| CRH CRH PLC | Add +20.7% | 0.29% | +0.07 |
| HOOD Robinhood Markets Inc. Class A | Add +77.5% | 0.21% | +0.07 |
| MCO Moody's Corp. | Add +20.2% | 0.24% | +0.07 |
| BAC Bank of America Corp. | Add +1.2% | 0.47% | +0.06 |
| MICC The Magnum Ice Cream Co. NV | Add +871485.3% | 0.06% | +0.06 |
| PRAX Praxis Precision Medicines I | Add +592.5% | 0.06% | +0.06 |
| TER Teradyne Inc. | Add +32.0% | 0.12% | +0.06 |
| XOP SS SPDR S&P Og Exp & Prod | Add +350.9% | 0.08% | +0.06 |
| AMRZ Amrize Ltd. | Add +97.8% | 0.10% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +30.6% | 0.22% | +0.06 |
| APP AppLovin Corp. Class A | Add +20.5% | 0.30% | +0.05 |
| HCA HCA Healthcare Inc. | Add +7.4% | 0.25% | +0.05 |
| NXPI NXP Semiconductors NV | Add +31.5% | 0.20% | +0.05 |
| WDC Western Digital Corp. | Add +24.4% | 0.11% | +0.05 |
| WPM Wheaton Precious Metals Corp. | Add +80.0% | 0.10% | +0.05 |
| UAL United Airlines Holdings Inc. | Add +25.5% | 0.14% | +0.05 |
| AEP American Electric Power | Add +0.6% | 0.49% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Add +14.2% | 0.15% | +0.05 |
| MCD McDonald's Corp. | Add +4.4% | 0.40% | +0.05 |
| CCC CCC Intelligent Solutions Ho | Add +1580.2% | 0.04% | +0.04 |
| KHC The Kraft Heinz Co. | Add +77.8% | 0.09% | +0.04 |
| GDX Vaneck Gold Miners ETF | Add +546.8% | 0.04% | +0.04 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -20.1% | 91,764,700 | $62.6B |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -12.2% | 19,339,000 | $11.9B |
| IWM iShares Russell 2000 ETF | put | Reduce -34.5% | 29,735,000 | $7.3B |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Reduce -54.2% | 10,457,900 | $7.1B |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -12.2% | 11,412,900 | $7.0B |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +1.0% | 50,495,300 | $4.1B |
| IWM iShares Russell 2000 ETF | call | Reduce -23.5% | 13,486,200 | $3.3B |
| TSLA Tesla Inc. | put | Reduce -8.7% | 6,363,300 | $2.9B |
| GOOGL Alphabet Inc. Class A | put | Add +22.2% | 8,686,700 | $2.7B |
| NVDA Nvidia Corp. | put | Add +74.1% | 14,085,000 | $2.6B |
| GOOGL Alphabet Inc. Class A | call | Reduce -3.5% | 5,311,700 | $1.7B |
| MSFT Microsoft Corp. | call | Reduce -9.4% | 3,340,200 | $1.6B |
| MSFT Microsoft Corp. | put | Add +28.5% | 3,246,700 | $1.6B |
| META Meta Platforms Inc. Class A | put | Add +157.7% | 2,208,500 | $1.5B |
| AAPL Apple Inc. | put | Add +31.1% | 4,611,500 | $1.3B |
| TSM Taiwan Semiconductor-SP ADR | put | Add +133.4% | 3,980,500 | $1.2B |
| AMZN Amazon.com Inc. | put | Add +180.5% | 5,177,800 | $1.2B |
| NVDA Nvidia Corp. | call | Reduce -42.5% | 6,149,500 | $1.1B |
| GOOG Alphabet Inc. Class C | call | Reduce -49.1% | 3,082,100 | $967.2M |
| TLT iShares 20+ Year Treasury BD | call | Reduce -8.7% | 11,068,500 | $964.7M |
| META Meta Platforms Inc. Class A | call | Add +244.9% | 1,458,800 | $962.9M |
| XLE SS Energy Select Sector | put | Add +82.2% | 21,350,000 | $954.6M |
| AAPL Apple Inc. | call | Reduce -2.8% | 2,975,600 | $808.9M |
| AMD Advanced Micro Devices | put | Add +34.0% | 3,751,700 | $803.5M |
| TLT iShares 20+ Year Treasury BD | put | Reduce -7.2% | 9,134,600 | $796.2M |
| AVGO Broadcom Inc. | put | Add +118.3% | 2,058,500 | $712.4M |
| XLB SS Materials Select Sector | put | Add +150.0% | 15,000,000 | $680.3M |
| AMZN Amazon.com Inc. | call | Add +62.3% | 2,786,700 | $643.2M |
| CVNA Carvana Co. | call | Reduce -21.8% | 1,308,000 | $552.0M |
| GDX Vaneck Gold Miners ETF | put | Add +60.5% | 6,025,000 | $516.8M |
| LLY Eli Lilly & Co. | put | Add +310.3% | 475,900 | $511.4M |
| MRK Merck & Co. Inc. | call | Add +615.3% | 4,722,100 | $497.0M |
| EFA iShares MSCI Eafe ETF | call | Add +6.6% | 5,089,300 | $488.7M |
| PLTR Palantir Technologies Inc. Class A | put | Add +252.4% | 2,670,800 | $474.7M |
| JPM JPMorgan Chase & Co. | put | Add +278.2% | 1,463,300 | $471.5M |
| INTC Intel Corp. | put | Add +32.4% | 12,345,200 | $455.5M |
| ORCL Oracle Corp. | call | Add +774.1% | 2,265,700 | $441.6M |
| GEV GE Vernova Inc. | put | Add +7.5% | 663,300 | $433.5M |
| XLB SS Materials Select Sector | call | Add +111.1% | 9,500,000 | $430.8M |
| ARM Arm Holdings PLC-ADR | put | Add +32.9% | 3,879,400 | $424.1M |
| EFA iShares MSCI Eafe ETF | put | Add +98.7% | 4,221,100 | $405.4M |
| XLF SS Financial Select Sector | put | Add +1.2% | 6,255,000 | $342.6M |
| INTC Intel Corp. | call | Reduce -15.0% | 8,752,500 | $323.0M |
| EWZ iShares MSCI Brazil ETF | call | Add +169.0% | 9,885,000 | $314.0M |
| BA The Boeing Co. | put | Reduce -18.2% | 1,420,100 | $308.3M |
| NFLX Netflix Inc. | put | Add +73.8% | 3,235,000 | $303.3M |
| EEM iShares MSCI Emerging Market | call | Reduce -47.4% | 5,400,000 | $295.4M |
| MU Micron Technology Inc. | put | New | 1,010,300 | $288.3M |
| IBIT iShares Bitcoin Trust ETF | put | Add +101.7% | 5,740,800 | $285.0M |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -46.7% | 1,808,100 | $265.0M |
Showing the first 50 of 893.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | COM · principal | Sold out | 794,117,000 | $4.1Bbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -38.5% | 441,084 | $30.5M |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +4.7% | 12,202,000 | $25.3M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +23.3% | 11,444,000 | $14.9M |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | Add +65.1% | 12,640,000 | $12.5M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Sold out | 11,508,000 | $12.4Mbefore exit |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -34.6% | 11,453,000 | $11.4M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Reduce -14.6% | 150,863 | $10.1M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Add +321.8% | 7,593,000 | $8.1M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +486.3% | 4,825,000 | $7.9M |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | Add +261.1% | 6,063,000 | $7.3M |
| NNAVW Nextnav Inc. | *W EXP 99/99/999 | Reduce -49.2% | 1,002,458 | $7.2M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +43.3% | 6,920,000 | $7.0M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +7.5% | 86,284 | $6.5M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +112.4% | 6,183,000 | $6.4M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +11.0% | 5,360,000 | $6.1M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | Add +75.4% | 6,509,000 | $6.0M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -24.7% | 5,193,000 | $5.8M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Add +36.1% | 4,772,000 | $5.7M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Add +235.1% | 4,862,000 | $5.2M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Reduce -70.2% | 1,447,000 | $4.9M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Add +4118.6% | 4,767,000 | $4.8M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Add +37.5% | 91,728 | $4.7M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -83.1% | 1,013,000 | $4.6M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Sold out | 4,048,000 | $4.6Mbefore exit |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Add +12.6% | 3,139,000 | $4.6M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Reduce -8.0% | 4,507,000 | $4.3M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Reduce -67.4% | 781,000 | $4.2M |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | Add +192.8% | 50,947 | $4.1M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Add +202.2% | 3,750,000 | $3.7M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Reduce -40.0% | 65,893 | $3.4M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | New | 2,961,000 | $3.4M |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | New | 67,317 | $3.3M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Add +250.5% | 3,256,000 | $3.2M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Reduce -74.9% | 2,459,000 | $3.1M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Reduce -67.4% | 2,098,000 | $2.6M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Add +667.0% | 1,557,000 | $2.5M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 2,212,000 | $2.1M |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | Sold out | 1,664,830 | $2.0Mbefore exit |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | New | 1,357,000 | $1.9M |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | New | 2,015,000 | $1.9M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Reduce -67.9% | 34,674 | $1.7M |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | Add +0.1% | 1,592,000 | $1.7M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -6.0% | 1,199,000 | $1.6M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Sold out | 1,471,000 | $1.6Mbefore exit |
| SVIAW Procap Financial Inc. | *W EXP 12/05/203 | New | 2,202,264 | $1.5M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | Reduce -44.2% | 27,895 | $1.5M |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Sold out | 1,574,000 | $1.5Mbefore exit |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Sold out | 1,480,000 | $1.5Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | New | 401,000 | $1.5M |
Showing the first 50 of 180.
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 | 4,520 | $316.5B | EEM, NVDA, AAPL, MSFT, MU |
| Q1 2026 | 4,198 | $279.6B | EEM, NVDA, MSFT, AAPL, AMZN |
| Q4 2025 | 4,173 | $248.7B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025Amended | 4,401 | $267.6B | NVDA, MSFT, AAPL, AMZN, TSLA |
| Q2 2025Amended | 4,260 | $247.6B | NVDA, MSFT, AAPL, AMZN, TSLA |
| Q1 2025Amended | 4,307 | $219.7B | MSFT, AAPL, NVDA, AMZN, SPY |
| Q4 2024Amended | 4,239 | $201.9B | NVDA, MSFT, AAPL, AMZN, TSLA |
| Q3 2024Amended | 4,226 | $226.5B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q2 2024Amended | 4,059 | $217.4B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024Amended | 4,030 | $221.1B | MSFT, AAPL, NVDA, AMZN, META |