BlueCrest Capital Management Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), BlueCrest Capital Management Ltd reported 114 stock positions worth $2.4 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 64.4% of the portfolio, followed by Vistra (VST, 4.3%) and Wells Fargo (WFC, 2.5%). Compared with Q3 2025, it opened 74 new positions, sold out of 55, added to 10 and reduced 12. The biggest buy was a new position in iShares Core S&P 500 ETF (IVV) and the biggest sale an exit from iShares S&P 100 ETF (OEF).
- Most Recent 13F
- Q2 2026
- Location
- ST HELIER, Y9
- CIK
- 0001610880
- Portfolio Value
- $2.4B (Q4 2025)
- SEC Filing
- 0000905148-26-000871 ↗ filed Feb 17, 2026
Holdings Value
Holdings 114 stocks · $2.4B
| IVV iShares Core S&P 500 ETF | 64.38% | 2,222,669 | $1.5B | New |
| VST Vistra Corp. | 4.35% | 637,266 | $102.8M | New |
| WFC Wells Fargo & Co. | 2.54% | 645,093 | $60.1M | New |
| C Citigroup Inc. | 2.53% | 512,538 | $59.8M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.44% | 1,049,093 | $57.7M | New |
| PCG P G & E Corp. | 2.04% | 3,000,000 | $48.2M | Reduce -69.6% |
| CRTO Criteo SA-Spon | 1.97% | 2,260,000 | $46.6M | No change |
| GDX Vaneck Gold Miners ETF | 1.53% | 420,762 | $36.1M | Add +693.9% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.13% | 332,728 | $26.8M | New |
| JPM JPMorgan Chase & Co. | 1.08% | 79,128 | $25.5M | New |
| AMZN Amazon.com Inc. | 0.99% | 101,637 | $23.5M | Reduce -63.7% |
| KWEB Kranesh Csi China Internet | 0.96% | 663,641 | $22.6M | Reduce -68.8% |
| LLY Eli Lilly & Co. | 0.89% | 19,635 | $21.1M | Reduce -61.1% |
| BABA Alibaba Group Holding-SP ADR | 0.86% | 138,911 | $20.4M | Add +993.8% |
| RITM Rithm Capital Corp. | 0.68% | 1,484,608 | $16.2M | No change |
| GDXJ Vaneck Junior Gold Miners | 0.65% | 135,244 | $15.4M | New |
| CPNG Coupang Inc. | 0.61% | 607,533 | $14.3M | New |
| BA The Boeing Co. | 0.55% | 59,928 | $13.0M | New |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.46% | 99,000 | $10.9M | New |
| FLY Firefly Aerospace Inc. | 0.45% | 478,698 | $10.7M | No change |
| AXTI Axt Inc. | 0.45% | 653,063 | $10.7M | New |
| FCRS.U Futurecrest Acquisition Corp. | 0.43% | 1,000,000 | $10.2M | No change |
| AEXA American Exceptionalism Class A | 0.43% | 891,386 | $10.2M | Add +29.9% |
| INDA iShares MSCI India ETF | 0.34% | 150,500 | $8.1M | Add +29.7% |
| USHY iShares Broad Usd High Yield | 0.34% | 212,761 | $8.0M | New |
| GOOGL Alphabet Inc. Class A | 0.30% | 22,575 | $7.1M | Reduce -56.4% |
| NVDA Nvidia Corp. | 0.27% | 34,284 | $6.4M | Reduce -96.9% |
| XLF SS Financial Select Sector | 0.24% | 105,000 | $5.8M | New |
| BIDU Baidu Inc. - Spon ADR | 0.23% | 41,817 | $5.5M | Add +70.7% |
| CCXIU Churchill Capital Corp. Xi | 0.22% | 500,000 | $5.1M | New |
| KBONU Karbon Capital Partners Corp. | 0.21% | 500,000 | $5.0M | New |
| ADACU American Drive Acquisition C | 0.21% | 500,000 | $5.0M | New |
| TAC Transalta Corp. | 0.21% | 393,880 | $5.0M | New |
| SVAQU Silicon Valley Acquisition C | 0.21% | 500,000 | $5.0M | New |
| BCSS.U Bain Capital GSS Investment | 0.19% | 450,000 | $4.6M | No change |
| RTAC Renatus Tactical Acquisiti-A | 0.18% | 403,226 | $4.3M | No change |
| EWY iShares MSCI South Korea ETF | 0.17% | 42,454 | $4.1M | New |
| MSFT Microsoft Corp. | 0.15% | 7,289 | $3.5M | Reduce -94.9% |
| MCHP Microchip Technology Inc. | 0.14% | 52,753 | $3.4M | New |
| CBC Central Bancompany | 0.13% | 125,540 | $3.0M | New |
| QCOM Qualcomm Inc. | 0.13% | 17,588 | $3.0M | New |
| CHKP Check Point Software Tech | 0.12% | 15,495 | $2.9M | New |
| ECH iShares MSCI Chile ETF | 0.12% | 70,000 | $2.8M | New |
| HAVAU Harvard Ave Acquisition Corp. | 0.11% | 250,000 | $2.5M | New |
| DMIIU Drugs Made in America Acquis | 0.11% | 250,000 | $2.5M | No change |
| MKSI MKS Inc. | 0.11% | 15,640 | $2.5M | New |
| MMTXU Miluna Acquisition Corp. | 0.11% | 250,000 | $2.5M | New |
| HAVA Harvard Ave Acquisition Class A | 0.10% | 250,000 | $2.5M | New |
| MU Micron Technology Inc. | 0.10% | 8,461 | $2.4M | New |
| BEBE.U Tge Value Creative Solutions | 0.10% | 238,500 | $2.4M | New |
| DSACU Daedalus Special Acquisition | 0.10% | 225,000 | $2.3M | New |
| AEAQU Activate Energy Acquisition | 0.09% | 220,000 | $2.2M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.09% | 6,734 | $2.0M | New |
| TLN Talen Energy Corp. | 0.09% | 5,436 | $2.0M | New |
| META Meta Platforms Inc. Class A | 0.08% | 2,973 | $2.0M | Reduce -88.6% |
| MDU Mdu Resources Group Inc. | 0.08% | 100,000 | $2.0M | New |
| CEG Constellation Energy | 0.08% | 5,426 | $1.9M | New |
| AVGO Broadcom Inc. | 0.08% | 5,148 | $1.8M | New |
| VRT Vertiv Holdings Co. Class A | 0.07% | 10,750 | $1.7M | New |
| IRHOU Iron Horse Acquisition II Co. | 0.07% | 175,000 | $1.7M | New |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.07% | 43,500 | $1.6M | New |
| CCIIU Cohen Circle Acquisition Cor | 0.07% | 148,651 | $1.5M | No change |
| ECHO Echostar Corp. Class A | 0.06% | 13,868 | $1.5M | New |
| TEM Tempus AI Inc. Class A | 0.06% | 24,241 | $1.4M | New |
| BETA Beta Technologies Inc. Class A | 0.06% | 50,000 | $1.4M | New |
| CLS Celestica Inc. | 0.06% | 4,632 | $1.4M | New |
| EIS iShares MSCI Israel ETF | 0.06% | 12,000 | $1.3M | No change |
| WLAC Willow Lane Acquisition Class A | 0.05% | 100,000 | $1.3M | Add +566.8% |
| LFACU Leapfrog Acquisition Corp. | 0.05% | 125,000 | $1.3M | New |
| DQ Daqo New Energy Corp.-ADR | 0.05% | 41,600 | $1.2M | No change |
| KKR KKR & Co. Inc. | 0.05% | 9,341 | $1.2M | New |
| AVAV Aerovironment Inc. | 0.05% | 4,900 | $1.2M | New |
| EWZ iShares MSCI Brazil ETF | 0.05% | 35,000 | $1.1M | No change |
| ATHM Autohome Inc.-ADR | 0.05% | 49,500 | $1.1M | Add +8.8% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.05% | 31,535 | $1.1M | Add +308.3% |
| PINS Pinterest Inc. Class A | 0.05% | 41,324 | $1.1M | No change |
| VNET Vnet Group Inc.-ADR | 0.04% | 121,670 | $1.0M | Add +280.0% |
| CCJ Cameco Corp. | 0.04% | 11,226 | $1.0M | New |
| CEPV Cantor Equity Partners Class A | 0.04% | 100,000 | $1.0M | New |
| GTERU Globa Terra Acquisition Corp. | 0.04% | 99,157 | $1.0M | No change |
| MESHU Meshflow Acquisition Corp. | 0.04% | 100,000 | $1.0M | New |
| SCPQU Social Commerce Partners Cor | 0.04% | 100,000 | $1.0M | New |
| XZO Exzeo Group Inc. | 0.04% | 40,000 | $970K | New |
| IWD iShares Russell 1000 Value E | 0.04% | 4,500 | $947K | New |
| CIEN Ciena Corp. | 0.04% | 4,044 | $946K | New |
| KCHVU Kochav Defense Acquisition C | 0.04% | 90,528 | $935K | No change |
| LITE Lumentum Holdings Inc. | 0.04% | 2,416 | $891K | New |
| EDU New Oriental Educatio-SP ADR | 0.04% | 15,800 | $869K | No change |
| MRVL Marvell Technology Inc. | 0.04% | 10,036 | $853K | New |
| OPAL Opal Fuels Inc. Class A | 0.04% | 358,018 | $843K | New |
| DAAQ Digital Asset Acquisiti Class A | 0.03% | 80,793 | $821K | No change |
| ANET Arista Networks Inc. | 0.03% | 6,245 | $818K | New |
| COHR Coherent Corp. | 0.03% | 4,309 | $795K | New |
| CLMT Calumet Inc. | 0.03% | 40,000 | $795K | Reduce -33.3% |
| DDOG Datadog Inc. Class A | 0.03% | 5,700 | $775K | Reduce -68.8% |
| TIC Tic Solutions Inc. | 0.03% | 75,000 | $758K | Add +50.0% |
| CRDO Credo Technology Group Holdi | 0.03% | 4,501 | $648K | New |
| NE Noble Corp. PLC | 0.02% | 20,669 | $584K | New |
| LRCX Lam Research Corp. | 0.02% | 3,123 | $535K | New |
| SAC.U Safeguard Acquisition Corp. | 0.02% | 50,000 | $504K | New |
| KLAC KLA Corp. | 0.02% | 407 | $495K | New |
| RDDT Reddit Inc. Class A | 0.02% | 2,112 | $485K | New |
| AMAT Applied Materials Inc. | 0.02% | 1,850 | $475K | New |
| VNMEU Vendome Acquisition Corp. I | 0.02% | 41,594 | $431K | No change |
| MOH Molina Healthcare Inc. | 0.01% | 2,000 | $347K | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.01% | 3,000 | $341K | No change |
| VOYG Voyager Technologies Inc. Class A | 0.01% | 11,500 | $301K | New |
| KRSP.U Rice Acquisition Corp. 3 | 0.01% | 25,000 | $263K | New |
| BLRKU Bluerock Acquisition Corp. | 0.01% | 25,000 | $250K | New |
| WRD Weride Inc.-ADR | 0.01% | 18,678 | $162K | Reduce -59.5% |
| INFQ Infleqtion Inc. filed as CHURCHILL CAP CORP X | 0.01% | 10,000 | $156K | Reduce -88.7% |
| PMTR Perimeter Acquis Corp. I Class A | 0.00% | 10,000 | $103K | New |
| XGN Exagen Inc. | 0.00% | 10,000 | $61K | New |
| STIM Neuronetics Inc. | 0.00% | 40,000 | $55K | New |
Options reported separately and not counted above: GLD puts ($233.8M), GLD calls ($223.9M), XLF puts ($65.7M), PCG puts ($32.1M), EWZ calls ($31.0M), KWEB calls ($30.6M), HYG puts ($24.2M), CAT puts ($23.2M), IBIT puts ($22.9M), INDA calls ($21.6M), IWM puts ($10.1M), GGAL calls ($8.9M), and 16 more.
Other holdings (28): bonds, preferreds, convertibles and warrants · $210.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 8,375,000 | $28.1M | No change |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 23,000,000 | $27.5M | Add +170.6% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 11,000,000 | $17.1M | Reduce -29.0% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 216,326 | $14.4M | Add +691.9% |
| JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) | NOTE 2.500% 9/0 · principal | 14,320,000 | $13.9M | Reduce -9.5% |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 192,963 | $10.6M | New |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 10,000,000 | $8.8M | New |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 143,217 | $8.5M | Reduce -47.1% |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 105,709 | $8.5M | Add +4.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 8,270,000 | $8.3M | Reduce -50.6% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 103,069 | $7.8M | New |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 17,835 | $6.5M | Reduce -2.8% |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 6,000,000 | $6.0M | New |
| GREEN PLAINS INC (GPRE 5.25 11/01/30 UNRS) | NOTE 5.250%11/0 · principal | 5,500,000 | $5.8M | New |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | 3,750,000 | $4.8M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 3,500,000 | $4.7M | New |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | 78,186 | $3.9M | New |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | 3,196,000 | $3.9M | Reduce -64.7% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 3,920,000 | $3.8M | New |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 4,969,000 | $3.5M | Add +98.8% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 3,256,000 | $3.2M | Reduce -81.7% |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 55,998 | $3.1M | Reduce -82.7% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 50,965 | $2.6M | Add +34.0% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 1,800,000 | $2.2M | Reduce -80.7% |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 10,213 | $1.3M | Reduce -85.1% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 19,451 | $1.0M | Reduce -80.1% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 7,435 | $305K | Reduce -92.0% |
| WOLFSPEED INC (WOLF 2.5 06/15/31) | NOTE 2.500% 6/1 · principal | 88,000 | $130K | New |
Total filed on the 13F, all lines: $2.6B.
Portfolio Sells Q3 2025 → Q4 2025
| OEF iShares S&P 100 ETF | Sold out | 0.00% | −22.19 |
| NVDA Nvidia Corp. | Reduce -96.9% | 0.27% | −14.64 |
| PCG P G & E Corp. | Reduce -69.6% | 2.04% | −8.68 |
| KWEB Kranesh Csi China Internet | Reduce -68.8% | 0.96% | −5.49 |
| MSFT Microsoft Corp. | Reduce -94.9% | 0.15% | −5.16 |
| AMZN Amazon.com Inc. | Reduce -63.7% | 0.99% | −3.44 |
| GTX Garrett Motion Inc. | Sold out | 0.00% | −2.63 |
| GLD SPDR Gold Shares | Sold out | 0.00% | −2.57 |
| LLY Eli Lilly & Co. | Reduce -61.1% | 0.89% | −1.88 |
| RBRK Rubrik Inc. Class A | Sold out | 0.00% | −1.87 |
| ITB iShares U.S. Home Constructi | Sold out | 0.00% | −1.76 |
| META Meta Platforms Inc. Class A | Reduce -88.6% | 0.08% | −1.29 |
| NIQ Niq Global Intelligence PLC | Sold out | 0.00% | −1.22 |
| XRT SS SPDR S&P Retail ETF | Sold out | 0.00% | −0.80 |
| HUMN Roundhill Humanoid Robotics | Sold out | 0.00% | −0.77 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.70 |
| AS Amer Sports Inc. | Sold out | 0.00% | −0.63 |
| GOOGL Alphabet Inc. Class A | Reduce -56.4% | 0.30% | −0.61 |
| LTH Life Time Group Holdings Inc. | Sold out | 0.00% | −0.60 |
| ASHR Xtrackers Harvest Csi 300 CH | Sold out | 0.00% | −0.54 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.44 |
| IGV iShares Expanded Tech-Softwa | Sold out | 0.00% | −0.38 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.37 |
| EWJ iShares MSCI Japan ETF | Sold out | 0.00% | −0.36 |
| NTSK Netskope Inc. Class A | Sold out | 0.00% | −0.36 |
| EQT Eqt Corp. | Sold out | 0.00% | −0.36 |
| XHB SS SPDR S&P Homebldrs ETF | Sold out | 0.00% | −0.33 |
| SEDG Solaredge Technologies Inc. | Sold out | 0.00% | −0.18 |
| LGN Legence Corp. Class A | Sold out | 0.00% | −0.18 |
| ETHA iShares Ethereum Trust ETF | Sold out | 0.00% | −0.17 |
| LTM Latam Airlines Group SA-ADR | Sold out | 0.00% | −0.16 |
| UMAC Unusual Machines Inc. | Sold out | 0.00% | −0.16 |
| DDOG Datadog Inc. Class A | Reduce -68.8% | 0.03% | −0.15 |
| BILI Bilibili Inc.-Sponsored ADR | Sold out | 0.00% | −0.15 |
| RIOT Riot Platforms Inc. | Sold out | 0.00% | −0.15 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.15 |
| POWL Powell Industries Inc. | Sold out | 0.00% | −0.15 |
| XOP SS SPDR S&P Og Exp & Prod | Sold out | 0.00% | −0.14 |
| MCGAU Yorkville Acquisition Corp. | Sold out | 0.00% | −0.14 |
| B Barrick Mining Corp. | Sold out | 0.00% | −0.14 |
| IMSR Terrestrial Energy Inc. | Sold out | 0.00% | −0.13 |
| URA Global X Uranium ETF | Sold out | 0.00% | −0.13 |
| DEC Diversified Energy Co. PLC | Sold out | 0.00% | −0.13 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.11 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −0.11 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.10 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −0.10 |
| XLRE SS Real Estate Select Sector | Sold out | 0.00% | −0.09 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.09 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| IVV iShares Core S&P 500 ETF | New | 64.38% | +64.38 |
| VST Vistra Corp. | New | 4.35% | +4.35 |
| WFC Wells Fargo & Co. | New | 2.54% | +2.54 |
| C Citigroup Inc. | New | 2.53% | +2.53 |
| BAC Bank of America Corp. | New | 2.44% | +2.44 |
| GDX Vaneck Gold Miners ETF | Add +693.9% | 1.53% | +1.23 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 1.13% | +1.13 |
| JPM JPMorgan Chase & Co. | New | 1.08% | +1.08 |
| BABA Alibaba Group Holding-SP ADR | Add +993.8% | 0.86% | +0.70 |
| GDXJ Vaneck Junior Gold Miners | New | 0.65% | +0.65 |
| CPNG Coupang Inc. | New | 0.61% | +0.61 |
| BA The Boeing Co. | New | 0.55% | +0.55 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | New | 0.46% | +0.46 |
| AXTI Axt Inc. | New | 0.45% | +0.45 |
| USHY iShares Broad Usd High Yield | New | 0.34% | +0.34 |
| XLF SS Financial Select Sector | New | 0.24% | +0.24 |
| CCXIU Churchill Capital Corp. Xi | New | 0.22% | +0.22 |
| KBONU Karbon Capital Partners Corp. | New | 0.21% | +0.21 |
| ADACU American Drive Acquisition C | New | 0.21% | +0.21 |
| TAC Transalta Corp. | New | 0.21% | +0.21 |
| SVAQU Silicon Valley Acquisition C | New | 0.21% | +0.21 |
| EWY iShares MSCI South Korea ETF | New | 0.17% | +0.17 |
| MCHP Microchip Technology Inc. | New | 0.14% | +0.14 |
| CBC Central Bancompany | New | 0.13% | +0.13 |
| QCOM Qualcomm Inc. | New | 0.13% | +0.13 |
| CHKP Check Point Software Tech | New | 0.12% | +0.12 |
| ECH iShares MSCI Chile ETF | New | 0.12% | +0.12 |
| HAVAU Harvard Ave Acquisition Corp. | New | 0.11% | +0.11 |
| MKSI MKS Inc. | New | 0.11% | +0.11 |
| MMTXU Miluna Acquisition Corp. | New | 0.11% | +0.11 |
| HAVA Harvard Ave Acquisition Class A | New | 0.10% | +0.10 |
| MU Micron Technology Inc. | New | 0.10% | +0.10 |
| BEBE.U Tge Value Creative Solutions | New | 0.10% | +0.10 |
| DSACU Daedalus Special Acquisition | New | 0.10% | +0.10 |
| AEAQU Activate Energy Acquisition | New | 0.09% | +0.09 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.09% | +0.09 |
| TLN Talen Energy Corp. | New | 0.09% | +0.09 |
| MDU Mdu Resources Group Inc. | New | 0.08% | +0.08 |
| CEG Constellation Energy | New | 0.08% | +0.08 |
| AVGO Broadcom Inc. | New | 0.08% | +0.08 |
| VRT Vertiv Holdings Co. Class A | New | 0.07% | +0.07 |
| IRHOU Iron Horse Acquisition II Co. | New | 0.07% | +0.07 |
| YPF YPF S.A.-Sponsored ADR | New | 0.07% | +0.07 |
| ECHO Echostar Corp. Class A | New | 0.06% | +0.06 |
| TEM Tempus AI Inc. Class A | New | 0.06% | +0.06 |
| BETA Beta Technologies Inc. Class A | New | 0.06% | +0.06 |
| CLS Celestica Inc. | New | 0.06% | +0.06 |
| LFACU Leapfrog Acquisition Corp. | New | 0.05% | +0.05 |
| KKR KKR & Co. Inc. | New | 0.05% | +0.05 |
| AVAV Aerovironment Inc. | New | 0.05% | +0.05 |
Options Activity Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | call | Sold out | 770,000 | $462.3Mbefore exit |
| GLD SPDR Gold Shares | put | Reduce -48.3% | 590,000 | $233.8M |
| GLD SPDR Gold Shares | call | Reduce -32.3% | 565,000 | $223.9M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 332,600 | $199.7Mbefore exit |
| MSFT Microsoft Corp. | call | Sold out | 300,400 | $155.6Mbefore exit |
| CROX Crocs Inc. | call | Sold out | 1,600,000 | $133.7Mbefore exit |
| GOOGL Alphabet Inc. Class A | call | Sold out | 503,000 | $122.3Mbefore exit |
| XOP SS SPDR S&P Og Exp & Prod | call | Sold out | 800,000 | $105.8Mbefore exit |
| XLF SS Financial Select Sector | put | New | 1,200,000 | $65.7M |
| ETHA iShares Ethereum Trust ETF | put | Sold out | 1,980,000 | $62.4Mbefore exit |
| META Meta Platforms Inc. Class A | call | Sold out | 75,000 | $55.1Mbefore exit |
| IBIT iShares Bitcoin Trust ETF | call | Sold out | 800,000 | $52.0Mbefore exit |
| AMZN Amazon.com Inc. | call | Sold out | 200,000 | $43.9Mbefore exit |
| GDX Vaneck Gold Miners ETF | call | Sold out | 480,000 | $36.7Mbefore exit |
| PCG P G & E Corp. | put | New | 2,000,000 | $32.1M |
| EWZ iShares MSCI Brazil ETF | call | Add +95.0% | 975,000 | $31.0M |
| KWEB Kranesh Csi China Internet | call | New | 900,000 | $30.6M |
| VRT Vertiv Holdings Co. Class A | call | Sold out | 200,000 | $30.2Mbefore exit |
| CIEN Ciena Corp. | call | Sold out | 170,000 | $24.8Mbefore exit |
| AMD Advanced Micro Devices | call | Sold out | 150,000 | $24.3Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -71.4% | 300,000 | $24.2M |
| CAT Caterpillar Inc. | put | New | 40,500 | $23.2M |
| IBIT iShares Bitcoin Trust ETF | put | New | 461,000 | $22.9M |
| NVDA Nvidia Corp. | call | Sold out | 122,400 | $22.8Mbefore exit |
| FSLR First Solar Inc. | call | Sold out | 100,000 | $22.1Mbefore exit |
| INDA iShares MSCI India ETF | call | New | 400,000 | $21.6M |
| POWL Powell Industries Inc. | call | Sold out | 66,200 | $20.2Mbefore exit |
| TSM Taiwan Semiconductor-SP ADR | call | Sold out | 54,000 | $15.1Mbefore exit |
| KRE SS SPDR S&P Regional Bank | call | Sold out | 230,000 | $14.6Mbefore exit |
| RIOT Riot Platforms Inc. | call | Sold out | 750,000 | $14.3Mbefore exit |
| SERV Serve Robotics Inc. | call | Sold out | 1,190,000 | $13.8Mbefore exit |
| KVUE Kenvue Inc. | call | Sold out | 800,000 | $13.0Mbefore exit |
| HUT Hut 8 Corp. | call | Sold out | 346,400 | $12.1Mbefore exit |
| RRX Regal Rexnord Corp. | call | Sold out | 81,700 | $11.7Mbefore exit |
| TSLA Tesla Inc. | call | Sold out | 25,200 | $11.2Mbefore exit |
| IWM iShares Russell 2000 ETF | put | New | 41,000 | $10.1M |
| RGTI Rigetti Computing Inc. | put | Sold out | 319,900 | $9.5Mbefore exit |
| BIDU Baidu Inc. - Spon ADR | call | Sold out | 72,000 | $9.5Mbefore exit |
| QUBT Quantum Computing Inc. | put | Sold out | 500,000 | $9.2Mbefore exit |
| GGAL Grupo Financiero Galicia-ADR | call | Add +65.3% | 165,300 | $8.9M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -96.3% | 11,500 | $7.8M |
| CIFR Cipher Digital Inc. | call | Sold out | 600,000 | $7.6Mbefore exit |
| GEV GE Vernova Inc. | put | New | 10,000 | $6.5M |
| ROOT Root Inc./Oh Class A | call | Sold out | 57,600 | $5.2Mbefore exit |
| INDY iShares India 50 ETF | call | Sold out | 100,000 | $5.1Mbefore exit |
| AFRM Affirm Holdings Inc. | call | Add +49.1% | 67,100 | $5.0M |
| UBER Uber Technologies Inc. | call | Sold out | 50,000 | $4.9Mbefore exit |
| PYPL PayPal Holdings Inc. | call | Sold out | 72,000 | $4.8Mbefore exit |
| CCJ Cameco Corp. | call | Sold out | 55,800 | $4.7Mbefore exit |
| MRVL Marvell Technology Inc. | call | Sold out | 54,000 | $4.5Mbefore exit |
Showing the first 50 of 74.
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
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Add +170.6% | 23,000,000 | $27.5M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Sold out | 15,826,000 | $18.2Mbefore exit |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -29.0% | 11,000,000 | $17.1M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +691.9% | 216,326 | $14.4M |
| JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) | NOTE 2.500% 9/0 · principal | Reduce -9.5% | 14,320,000 | $13.9M |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | New | 192,963 | $10.6M |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | New | 10,000,000 | $8.8M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -47.1% | 143,217 | $8.5M |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | Add +4.2% | 105,709 | $8.5M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -50.6% | 8,270,000 | $8.3M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Sold out | 119,614 | $8.3Mbefore exit |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | Sold out | 139,644 | $8.2Mbefore exit |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | New | 103,069 | $7.8M |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | Reduce -2.8% | 17,835 | $6.5M |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | New | 6,000,000 | $6.0M |
| GREEN PLAINS INC (GPRE 5.25 11/01/30 UNRS) | NOTE 5.250%11/0 · principal | New | 5,500,000 | $5.8M |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | New | 3,750,000 | $4.8M |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | New | 3,500,000 | $4.7M |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | Sold out | 3,700,000 | $4.5Mbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Sold out | 81,211 | $4.3Mbefore exit |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | New | 78,186 | $3.9M |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | Reduce -64.7% | 3,196,000 | $3.9M |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | New | 3,920,000 | $3.8M |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | Add +98.8% | 4,969,000 | $3.5M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Reduce -81.7% | 3,256,000 | $3.2M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | Reduce -82.7% | 55,998 | $3.1M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Add +34.0% | 50,965 | $2.6M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Reduce -80.7% | 1,800,000 | $2.2M |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | Reduce -85.1% | 10,213 | $1.3M |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | Sold out | 414,000 | $1.2Mbefore exit |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Reduce -80.1% | 19,451 | $1.0M |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | Sold out | 1,000,000 | $992Kbefore exit |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Sold out | 8,329 | $592Kbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Reduce -92.0% | 7,435 | $305K |
| WOLFSPEED INC (WOLF 2.5 06/15/31) | NOTE 2.500% 6/1 · principal | New | 88,000 | $130K |
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 | 213 | $2.1B | RSP, SPCX, SPYM, SMH, AMZN |
| Q1 2026 | 152 | $728.7M | WIX, CRTO, BAC, PFSI, C |
| Q4 2025 | 114 | $2.4B | IVV, VST, WFC, C, BAC |
| Q3 2025Amended | 95 | $1.4B | OEF, NVDA, PCG, KWEB, MSFT |
| Q2 2025 | 55 | $714.2M | IBIT, HYG, NVDA, CRTO, UNH |
| Q1 2025 | 31 | $491.6M | ASHR, CRTO, SPY, TSM, GLD |
| Q4 2024 | 40 | $1.6B | IVV, ASHR, XBI, CRTO, IBIT |
| Q3 2024 | 33 | $200.4M | CRTO, LQD, RITM, KWEB, MDY |
| Q2 2024 | 50 | $356.9M | CRTO, GDXJ, MSFT, HYG, GLD |
| Q1 2024 | 60 | $199.1M | CRTO, RITM, EMB, SPY, XLF |