BNP Paribas Financial Markets
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), BNP Paribas Financial Markets reported 4,355 stock positions worth $129.2 billion. Its top holding was Apple (AAPL) at 3.1% of the portfolio, followed by Nvidia (NVDA, 3.0%) and Microsoft (MSFT, 2.9%). Compared with Q4 2024, it opened 159 new positions, sold out of 173, added to 1,740 and reduced 2,216. The biggest buy was iShares MSCI USA Quality Fac (QUAL, shares +3606711%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −74%).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0001166588
- Portfolio Value
- $129.2B (Q1 2025)
- SEC Filing
- 0001166588-25-000031 ↗ filed May 14, 2025
Holdings Value
Holdings 4,355 stocks · $129.2B
| AAPL Apple Inc. | 3.08% | 17,933,731 | $4.0B | Add +9.4% |
| NVDA Nvidia Corp. | 3.02% | 36,016,313 | $3.9B | Add +3.3% |
| MSFT Microsoft Corp. | 2.94% | 10,126,245 | $3.8B | Reduce -4.4% |
| AMZN Amazon.com Inc. | 2.17% | 14,770,812 | $2.8B | Add +6.7% |
| META Meta Platforms Inc. Class A | 1.55% | 3,476,055 | $2.0B | Reduce -7.7% |
| TSLA Tesla Inc. | 1.37% | 6,840,835 | $1.8B | Add +11.7% |
| AVGO Broadcom Inc. | 1.31% | 10,083,873 | $1.7B | Add +2.3% |
| GOOGL Alphabet Inc. Class A | 1.29% | 10,805,424 | $1.7B | Add +7.7% |
| GOOG Alphabet Inc. Class C | 1.09% | 8,981,865 | $1.4B | Add +31.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.98% | 2,380,504 | $1.3B | Reduce -11.3% |
| JPM JPMorgan Chase & Co. | 0.95% | 4,991,496 | $1.2B | Add +31.5% |
| IVV iShares Core S&P 500 ETF | 0.95% | 2,174,209 | $1.2B | Add +54.0% |
| IWM iShares Russell 2000 ETF | 0.94% | 6,068,406 | $1.2B | Reduce -2.8% |
| AMD Advanced Micro Devices | 0.87% | 10,929,730 | $1.1B | Add +18.3% |
| UNH Unitedhealth Group Inc. | 0.85% | 2,092,079 | $1.1B | Add +67.3% |
| BABA Alibaba Group Holding-SP ADR | 0.83% | 8,132,447 | $1.1B | Add +7.2% |
| CSCO Cisco Systems Inc. | 0.81% | 17,017,351 | $1.1B | Add +24.5% |
| XOM Exxon Mobil Corp. | 0.77% | 8,399,709 | $999.0M | Reduce -11.4% |
| V Visa Inc. Class A | 0.76% | 2,804,228 | $982.8M | Add +1.5% |
| XBI SS SPDR S&P Biotech ETF | 0.63% | 10,101,480 | $819.2M | Reduce -15.0% |
| GE General Electric filed as GE AEROSPACE | 0.63% | 4,082,111 | $817.0M | Reduce -9.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.60% | 1,667,164 | $781.8M | Add +31.4% |
| ADI Analog Devices Inc. | 0.59% | 3,802,636 | $766.9M | Add +82.8% |
| NFLX Netflix Inc. | 0.58% | 805,463 | $751.1M | Reduce -29.6% |
| MRK Merck & Co. Inc. | 0.57% | 8,205,488 | $736.5M | Add +43.2% |
| LLY Eli Lilly & Co. | 0.55% | 854,382 | $705.6M | Add +24.3% |
| PG The Procter & Gamble Co. | 0.54% | 4,129,087 | $703.7M | Add +63.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.53% | 2,750,179 | $683.9M | Add +31.2% |
| XLF SS Financial Select Sector | 0.52% | 13,496,247 | $672.2M | Add +20.3% |
| AMAT Applied Materials Inc. | 0.52% | 4,604,391 | $668.2M | Add +35.3% |
| ABBV Abbvie Inc. | 0.50% | 3,075,727 | $644.4M | Add +64.4% |
| WMT Walmart Inc. | 0.50% | 7,305,204 | $641.3M | Add +67.9% |
| PFE Pfizer Inc. | 0.49% | 25,156,139 | $637.5M | Add +32.9% |
| CVX Chevron Corp. | 0.49% | 3,787,248 | $633.6M | Add +25.6% |
| PDD PDD Holdings Inc. | 0.49% | 5,340,634 | $632.1M | Add +12.1% |
| MA Mastercard Inc. Class A | 0.48% | 1,132,993 | $621.0M | Add +11.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.48% | 14,710,390 | $613.9M | Reduce -0.7% |
| CRM Salesforce Inc. | 0.47% | 2,269,053 | $608.9M | Add +11.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.47% | 1,083,250 | $606.0M | Reduce -73.8% |
| TMO Thermo Fisher Scientific Inc. | 0.47% | 1,217,615 | $605.9M | Add +16.4% |
| COST Costco Wholesale Corp. | 0.42% | 569,978 | $539.1M | Reduce -19.9% |
| HD Home Depot Inc. | 0.42% | 1,468,841 | $538.3M | Reduce -7.2% |
| TXN Texas Instruments Inc. | 0.42% | 2,992,171 | $537.7M | Add +42.8% |
| LIN Linde PLC | 0.41% | 1,137,021 | $529.4M | Add +4.0% |
| XLI SS Industrial Select Sector | 0.39% | 3,842,750 | $503.7M | Reduce -51.5% |
| PGR Progressive Corp. | 0.39% | 1,766,657 | $500.0M | Add +48.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.37% | 4,826,485 | $476.4M | Reduce -18.5% |
| ADBE Adobe Inc. | 0.37% | 1,238,275 | $474.9M | Add +16.4% |
| REGN Regeneron Pharmaceuticals | 0.37% | 746,613 | $473.5M | Add +38.4% |
| ORCL Oracle Corp. | 0.36% | 3,372,295 | $471.5M | Add +15.3% |
| GS Goldman Sachs Group Inc. | 0.36% | 859,874 | $469.7M | Reduce -4.4% |
| PM Philip Morris International | 0.36% | 2,953,658 | $468.8M | Add +7.9% |
| ABT Abbott Laboratories | 0.36% | 3,507,769 | $465.3M | Add +13.9% |
| QUAL iShares MSCI USA Quality Fac | 0.36% | 2,705,108 | $462.3M | Add +3606710.7% |
| INTU Intuit Inc. | 0.34% | 723,207 | $444.0M | Reduce -15.1% |
| JNJ Johnson & Johnson | 0.34% | 2,672,654 | $443.2M | Reduce -22.6% |
| T AT&T Inc. | 0.34% | 15,654,053 | $442.7M | Add +8.4% |
| FLUT Flutter Entertainment PLC-Di | 0.34% | 1,994,656 | $441.9M | Add +196.5% |
| AXP American Express Co. | 0.34% | 1,633,169 | $439.4M | Reduce -10.2% |
| QCOM Qualcomm Inc. | 0.33% | 2,810,350 | $431.7M | Reduce -19.0% |
| CMCSA Comcast Corp. Class A | 0.33% | 11,691,586 | $431.4M | Add +11.1% |
| SMH Vaneck Semiconductor ETF | 0.33% | 1,991,703 | $421.2M | Add +53.7% |
| DHR Danaher Corp. | 0.32% | 2,003,593 | $410.7M | Add +96.8% |
| RSP Invesco S&P 500 Equal Weight | 0.31% | 2,345,492 | $406.3M | Add +92.3% |
| AMGN Amgen Inc. | 0.31% | 1,282,939 | $399.7M | Add +42.2% |
| GLD SPDR Gold Shares | 0.31% | 1,380,273 | $397.7M | Add +102.2% |
| MRSH Marsh & McLennan Cos | 0.31% | 1,627,515 | $397.2M | Add +51.9% |
| BKNG Booking Holdings Inc. | 0.30% | 85,414 | $393.5M | Add +9.4% |
| VZ Verizon Communications Inc. | 0.30% | 8,608,960 | $390.5M | Reduce -7.0% |
| PEP Pepsico Inc. | 0.29% | 2,529,109 | $379.2M | Reduce -43.6% |
| LRCX Lam Research Corp. | 0.29% | 5,205,737 | $378.5M | Reduce -5.5% |
| KO The Coca-Cola Co. | 0.29% | 5,274,579 | $377.8M | Reduce -2.7% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.29% | 896,260 | $376.3M | Add +92.0% |
| MU Micron Technology Inc. | 0.29% | 4,326,120 | $375.9M | Add +8.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.29% | 4,746,514 | $374.5M | Reduce -18.9% |
| EFA iShares MSCI Eafe ETF | 0.29% | 4,555,316 | $372.3M | Add +104.2% |
| MCD McDonald's Corp. | 0.29% | 1,184,371 | $370.0M | Reduce -9.0% |
| INTC Intel Corp. | 0.28% | 16,096,528 | $365.6M | Add +20.6% |
| GILD Gilead Sciences Inc. | 0.28% | 3,227,150 | $361.6M | Reduce -9.0% |
| UNP Union Pacific Corp. | 0.28% | 1,504,970 | $355.5M | Reduce -3.3% |
| PLTR Palantir Technologies Inc. Class A | 0.27% | 4,124,680 | $348.1M | Reduce -14.8% |
| HON Honeywell International Inc. | 0.27% | 1,616,800 | $342.4M | Add +30.4% |
| XLE SS Energy Select Sector | 0.26% | 3,654,715 | $341.5M | Reduce -25.2% |
| SCHW Schwab (charles) Corp. | 0.26% | 4,270,451 | $334.3M | Add +8.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 2,739,358 | $333.7M | Add +21.2% |
| NOW ServiceNow Inc. | 0.26% | 418,126 | $332.9M | Reduce -2.7% |
| NEE Nextera Energy Inc. | 0.25% | 4,584,657 | $325.0M | Add +56.6% |
| BSX Boston Scientific Corp. | 0.25% | 3,204,224 | $323.2M | Add +16.4% |
| BMY Bristol-Myers Squibb Co. | 0.25% | 5,240,580 | $319.6M | Add +33.1% |
| ET Energy Transfer LP | 0.24% | 16,764,607 | $311.7M | Add +4.1% |
| CME Cme Group Inc. | 0.24% | 1,163,369 | $308.6M | Add +23.4% |
| ACN Accenture PLC Class A | 0.24% | 984,096 | $307.1M | Add +18.6% |
| BLK BlackRock Inc. | 0.23% | 319,964 | $302.8M | Add +42.3% |
| COP Conocophillips | 0.23% | 2,871,970 | $301.6M | Add +128.2% |
| ADP Automatic Data Processing | 0.23% | 985,626 | $301.1M | Reduce -24.6% |
| VNQ Vanguard Real Estate ETF | 0.23% | 3,252,481 | $294.5M | Add +458.2% |
| WFC Wells Fargo & Co. | 0.22% | 4,001,701 | $287.3M | Reduce -21.7% |
| UBER Uber Technologies Inc. | 0.22% | 3,923,646 | $285.9M | Reduce -34.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.22% | 588,337 | $285.2M | Reduce -1.4% |
| EMB iShares JP Morgan Usd Emergi | 0.22% | 3,111,230 | $281.8M | Add +89.4% |
Options reported separately and not counted above: NVDA puts ($2.1B), SPY puts ($1.6B), TSLA puts ($1.4B), MSFT puts ($1.3B), IWM puts ($1.1B), AMD puts ($1.0B), QQQ puts ($998.6M), IWM calls ($997.9M), AMZN puts ($869.7M), AAPL puts ($722.7M), QQQ calls ($722.4M), META puts ($644.5M), and 823 more.
Other holdings (183): bonds, preferreds, convertibles and warrants · $1.7B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 54,541,000 | $80.3M | Add +204.4% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 85,651,000 | $74.2M | Reduce -7.4% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 52,868,000 | $49.3M | Add +1455.9% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 50,022,000 | $45.9M | Reduce -13.8% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 43,188,000 | $42.4M | Add +177.9% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 42,255,000 | $41.2M | Reduce -7.8% |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | 8,727,000 | $36.1M | Add +3.5% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 34,838,000 | $36.1M | Add +69.4% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 29,999,000 | $34.1M | Add +214178.6% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 33,517,000 | $33.6M | Add +344.6% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 35,000,000 | $33.2M | Reduce -20.4% |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 30,000,000 | $31.9M | Add +81.5% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 27,500,000 | $31.4M | Reduce -26.7% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 28,178,000 | $29.9M | Add +1438.1% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 32,006,000 | $28.4M | Add +49.3% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 25,139,460 | $28.1M | Reduce -16.6% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 27,749,000 | $27.3M | Add +39.7% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 28,234,000 | $26.6M | Add +28.2% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 27,009,000 | $26.4M | Add +955.0% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 24,877,000 | $26.3M | Add +895.1% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 23,675,000 | $26.2M | Add +36.5% |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 11,129,000 | $26.1M | Add +15.1% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 22,615,000 | $25.9M | Reduce -6.3% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 27,000,000 | $25.0M | New |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 27,096,000 | $24.7M | Add +10.9% |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 34,130,000 | $24.3M | New |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 9,665,000 | $23.6M | New |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 20,911,000 | $22.5M | Add +20.5% |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 16,889,000 | $22.2M | Add +15.8% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 17,269,000 | $22.2M | Add +24.3% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 14,491,000 | $20.5M | Add +34.7% |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 20,412,000 | $18.5M | Add +13.1% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 18,699,000 | $18.0M | Add +1259.9% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 17,681,000 | $17.4M | Reduce -37.8% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 19,963,000 | $17.2M | Add +111.1% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 15,489,000 | $16.6M | Add +69.4% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 17,923,000 | $15.9M | Add +75.0% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 15,715,000 | $14.6M | Reduce -17.3% |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 10,731,000 | $14.2M | Add +15.7% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 13,663,000 | $13.6M | Add +583.1% |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 13,191,000 | $13.0M | New |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 13,166,000 | $13.0M | Add +423.7% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 14,481,000 | $12.9M | Add +104.8% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 10,561,000 | $12.9M | Add +86.1% |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 10,725,000 | $12.4M | Add +22.9% |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 17,873,000 | $11.9M | Add +15.3% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 11,987,000 | $11.7M | Add +60.8% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 8,614,000 | $11.5M | Add +115.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 11,021,000 | $10.8M | Reduce -42.6% |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | 10,173,000 | $10.6M | Add +2.8% |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 18,000,000 | $10.2M | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 10,399,000 | $10.1M | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 8,000,000 | $9.5M | Add +296.8% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 7,812,000 | $9.4M | Reduce -52.7% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 10,149,000 | $9.4M | Add +165.5% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 7,779,000 | $9.4M | Add +1.4% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 7,712,000 | $9.4M | Add +66.6% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 9,228,000 | $9.4M | New |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 5,701,000 | $9.3M | Reduce -8.1% |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 9,225,000 | $9.2M | New |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 9,834,000 | $9.0M | Add +44600.0% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 8,875,000 | $9.0M | Add +277.7% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 9,096,000 | $8.7M | Add +27.6% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 7,500,000 | $8.7M | New |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 6,006,000 | $8.5M | Add +0.1% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 7,188,000 | $8.4M | Add +133.5% |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 8,430,000 | $7.9M | New |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 7,507,000 | $7.7M | Reduce -2.5% |
| HUBSPOT INC (HUBS 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | 3,606,000 | $7.3M | Add +4.5% |
| SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) | NOTE 3.500%12/0 · principal | 6,000,000 | $7.2M | No change |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 7,505,000 | $6.8M | Reduce -9.8% |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 2,752,000 | $6.8M | Reduce -23.7% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 7,828,000 | $6.6M | Add +2.3% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 2,447,000 | $6.6M | Reduce -14.9% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 5,542,000 | $6.4M | Reduce -28.6% |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | 2,610,000 | $6.2M | Reduce -2.8% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 6,252,000 | $6.1M | Reduce -38.1% |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 7,394,000 | $6.0M | Add +228.6% |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 5,300,000 | $5.9M | Reduce -8.7% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 5,264,000 | $5.6M | Add +110.6% |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 6,759,000 | $5.3M | Add +125.9% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 5,610,000 | $5.2M | Add +161.3% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 5,874,000 | $5.2M | Add +39.6% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 4,895,000 | $5.1M | Add +407.3% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 3,571,000 | $5.0M | Add +746.2% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 5,000,000 | $4.9M | Add +6.8% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 5,000,000 | $4.7M | No change |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 4,502,000 | $4.6M | Add +38.5% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 4,072,000 | $4.6M | Add +48.6% |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 4,599,000 | $4.3M | Reduce -56.2% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 4,427,000 | $4.2M | Reduce -35.2% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 3,748,000 | $4.2M | Reduce -52.5% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 4,066,000 | $4.0M | Add +0.4% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 3,784,000 | $3.9M | Reduce -30.6% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 3,928,000 | $3.8M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 3,359,000 | $3.6M | Reduce -23.0% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 3,749,000 | $3.6M | Reduce -14.5% |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 3,536,000 | $3.5M | Add +15.0% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 2,747,000 | $3.5M | Reduce -54.4% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 4,025,000 | $3.4M | Reduce -21.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 3,172,000 | $3.0M | Reduce -62.2% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 3,064,000 | $3.0M | Add +243.9% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 2,846,000 | $3.0M | New |
| INNOVIVA INC (INVA 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | 2,500,000 | $2.8M | No change |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 2,683,000 | $2.8M | Add +3.0% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 2,529,000 | $2.7M | Add +159.4% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 2,071,000 | $2.7M | Add +118.2% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 1,813,000 | $2.6M | Reduce -7.9% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 3,035,000 | $2.6M | Reduce -31.8% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 2,482,000 | $2.5M | New |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 2,573,000 | $2.4M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 2,209,000 | $2.4M | Add +301.6% |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 2,257,000 | $2.4M | New |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 1,700,000 | $2.4M | New |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | 2,400,000 | $2.4M | New |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 2,342,000 | $2.2M | Add +42.6% |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 1,944,000 | $2.1M | Reduce -79.9% |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 2,151,000 | $2.0M | Add +68.7% |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 2,154,000 | $2.0M | New |
| CAMTEK LTD/ISRAEL (CAMT 0 12/01/26) | NOTE 12/0 · principal | 1,600,000 | $1.9M | Reduce -20.0% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 1,919,000 | $1.8M | New |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 1,870,000 | $1.8M | Reduce -38.4% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 1,696,000 | $1.7M | Reduce -69.3% |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | 480,000 | $1.6M | Reduce -93.4% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 1,666,000 | $1.5M | Reduce -36.4% |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | 1,500,000 | $1.5M | Reduce -22.5% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,391,000 | $1.5M | Reduce -37.3% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 1,391,000 | $1.4M | New |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 1,540,000 | $1.3M | New |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 1,223,000 | $1.3M | Reduce -85.2% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 1,340,000 | $1.3M | Add +112.4% |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 1,025,000 | $1.2M | Add +286.8% |
| WORKIVA INC (WK 1.125 08/15/26) | NOTE 1.125% 8/1 · principal | 1,120,000 | $1.2M | No change |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 595,000 | $1.2M | New |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 1,110,000 | $1.1M | No change |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 454,000 | $1.1M | Reduce -4.6% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 834,000 | $980K | New |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | 730,000 | $964K | Add +1.3% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 877,000 | $921K | New |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 958,000 | $893K | New |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 904,000 | $890K | Reduce -65.1% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 879,000 | $841K | Add +35.2% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 545,000 | $693K | Reduce -84.8% |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 545,000 | $690K | New |
| MICROCHIP TECHNOLOGY INC (MCHP 1.625 02/15/27) | NOTE 1.625% 2/1 · principal | 427,000 | $650K | No change |
| UNITED STATES STEEL CORP (X 5 11/01/26) | NOTE 5.000%11/0 · principal | 200,000 | $636K | No change |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 503,000 | $613K | New |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 602,000 | $582K | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 516,000 | $579K | Add +3.0% |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 557,000 | $555K | No change |
| NEOGENOMICS INC (NEO 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 539,000 | $535K | New |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 615,000 | $524K | New |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 526,000 | $521K | No change |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 547,000 | $520K | Reduce -84.9% |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 493,000 | $485K | New |
| BILL HOLDINGS INC (BILL 0 12/01/25) | NOTE 12/0 · principal | 500,000 | $480K | No change |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 403,000 | $423K | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 400,000 | $352K | Reduce -96.3% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 350,000 | $341K | Reduce -25.7% |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 331,000 | $332K | Reduce -36.6% |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 340,000 | $327K | No change |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 410,000 | $283K | No change |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 233,000 | $278K | Reduce -91.3% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 300,000 | $262K | Reduce -91.9% |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 231,000 | $223K | No change |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | 846,000 | $203K | Reduce -76.1% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 190,000 | $201K | Reduce -87.3% |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | 552,000 | $119K | No change |
| ENVISTA HOLDINGS CORP (NVST 2.375 06/01/25) | NOTE 2.375% 6/0 · principal | 119,000 | $118K | No change |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | 113,000 | $110K | New |
| LIVONGO HEALTH (TDOC 0.875 06/01/25) | NOTE 0.875% 6/0 · principal | 95,000 | $94K | No change |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 97,000 | $93K | Add +6.6% |
| SNAP INC (SNAP 0.25 05/01/25) | NOTE 0.250% 5/0 · principal | 81,000 | $80K | No change |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 430 | $43K | No change |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 44,000 | $43K | No change |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 43,000 | $41K | New |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 908 | $25K | No change |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG · principal | 45,200 | $23K | New |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 16,000 | $19K | Reduce -98.7% |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | 283,333 | $9K | No change |
| XBPEW CF Acquisition Viii A -CW27 | *W EXP 11/30/202 | 149,050 | $6K | No change |
| CPTWF Captivision Inc.-28 | *W EXP 11/15/202 | 75,000 | $1K | No change |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 17 | $38 | No change |
Total filed on the 13F, all lines: $130.9B.
Portfolio Sells Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -73.8% | 0.47% | −1.42 |
| MSFT Microsoft Corp. | Reduce -4.4% | 2.94% | −0.55 |
| XLI SS Industrial Select Sector | Reduce -51.5% | 0.39% | −0.43 |
| PEP Pepsico Inc. | Reduce -43.6% | 0.29% | −0.24 |
| NFLX Netflix Inc. | Reduce -29.6% | 0.58% | −0.22 |
| XBI SS SPDR S&P Biotech ETF | Reduce -15.0% | 0.63% | −0.20 |
| IGV iShares Expanded Tech-Softwa | Reduce -58.0% | 0.11% | −0.18 |
| NKE Nike Inc. Class B | Reduce -63.1% | 0.08% | −0.17 |
| META Meta Platforms Inc. Class A | Reduce -7.7% | 1.55% | −0.17 |
| XLP SS Consumer Staples Sel Sect | Reduce -47.8% | 0.17% | −0.15 |
| DIS The Walt Disney Co. | Reduce -18.5% | 0.37% | −0.15 |
| IWM iShares Russell 2000 ETF | Reduce -2.8% | 0.94% | −0.14 |
| XLB SS Materials Select Sector | Reduce -98.6% | 0.00% | −0.14 |
| USHY iShares Broad Usd High Yield | Reduce -57.6% | 0.10% | −0.14 |
| CVNA Carvana Co. | Reduce -74.9% | 0.04% | −0.12 |
| MSTR Strategy Inc. | Reduce -76.7% | 0.03% | −0.12 |
| ATO Atmos Energy Corp. | Reduce -70.2% | 0.05% | −0.11 |
| NOW ServiceNow Inc. | Reduce -2.7% | 0.26% | −0.10 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -61.9% | 0.06% | −0.10 |
| IWV iShares Russell 3000 ETF | Reduce -92.8% | 0.01% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -19.9% | 0.42% | −0.09 |
| TMUS T-Mobile US Inc. | Reduce -41.0% | 0.21% | −0.09 |
| ESGU iShares ESG Aware MSCI USA | Reduce -99.1% | 0.00% | −0.09 |
| QCOM Qualcomm Inc. | Reduce -19.0% | 0.33% | −0.08 |
| AXP American Express Co. | Reduce -10.2% | 0.34% | −0.08 |
| CDNS Cadence Design SYS Inc. | Reduce -21.4% | 0.15% | −0.08 |
| SPGI S&P Global Inc. | Reduce -30.2% | 0.18% | −0.08 |
| INTU Intuit Inc. | Reduce -15.1% | 0.34% | −0.07 |
| MAR Marriott International Class A | Reduce -33.2% | 0.09% | −0.07 |
| EQIX Equinix Inc. | Reduce -30.2% | 0.10% | −0.07 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -18.9% | 0.29% | −0.07 |
| BSV Vanguard Short-Term Bond ETF | Reduce -91.4% | 0.01% | −0.07 |
| FXI iShares China Large-Cap ETF | Reduce -67.9% | 0.04% | −0.07 |
| ASHR Xtrackers Harvest Csi 300 CH | Reduce -85.3% | 0.01% | −0.07 |
| ADP Automatic Data Processing | Reduce -24.6% | 0.23% | −0.07 |
| LOW Lowe's Cos Inc. | Reduce -28.0% | 0.14% | −0.07 |
| VSS Vanguard Ftse All Wo X-US SC | Sold out | 0.00% | −0.07 |
| HD Home Depot Inc. | Reduce -7.2% | 0.42% | −0.06 |
| PANW Palo Alto Networks Inc. | Reduce -24.6% | 0.15% | −0.06 |
| INFY Infosys Ltd.-SP ADR | Reduce -41.9% | 0.06% | −0.06 |
| XLE SS Energy Select Sector | Reduce -25.2% | 0.26% | −0.06 |
| UBER Uber Technologies Inc. | Reduce -34.7% | 0.22% | −0.06 |
| XLK SS Technology Select Sector | Reduce -72.4% | 0.02% | −0.06 |
| DNUT Krispy Kreme Inc. | Reduce -0.1% | 0.06% | −0.06 |
| GDXJ Vaneck Junior Gold Miners | Reduce -96.6% | 0.00% | −0.06 |
| WFC Wells Fargo & Co. | Reduce -21.7% | 0.22% | −0.06 |
| SOFI Sofi Technologies Inc. | Reduce -53.8% | 0.03% | −0.06 |
| ALAB Astera Labs Inc. | Reduce -23.6% | 0.03% | −0.06 |
| TPR Tapestry Inc. | Reduce -78.6% | 0.02% | −0.05 |
| RBLX Roblox Corp. Class A | Reduce -27.2% | 0.14% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| QUAL iShares MSCI USA Quality Fac | Add +3606710.7% | 0.36% | +0.36 |
| UNH Unitedhealth Group Inc. | Add +67.3% | 0.85% | +0.35 |
| BABA Alibaba Group Holding-SP ADR | Add +7.2% | 0.83% | +0.33 |
| IVV iShares Core S&P 500 ETF | Add +54.0% | 0.95% | +0.30 |
| ADI Analog Devices Inc. | Add +82.8% | 0.59% | +0.25 |
| ABBV Abbvie Inc. | Add +64.4% | 0.50% | +0.24 |
| JPM JPMorgan Chase & Co. | Add +31.5% | 0.95% | +0.24 |
| PG The Procter & Gamble Co. | Add +63.1% | 0.54% | +0.21 |
| FLUT Flutter Entertainment PLC-Di | Add +196.5% | 0.34% | +0.21 |
| WMT Walmart Inc. | Add +67.9% | 0.50% | +0.19 |
| VNQ Vanguard Real Estate ETF | Add +458.2% | 0.23% | +0.19 |
| CSCO Cisco Systems Inc. | Add +24.5% | 0.81% | +0.18 |
| GLD SPDR Gold Shares | Add +102.2% | 0.31% | +0.18 |
| IBM Intl Business Machines Corp. | Add +31.2% | 0.53% | +0.17 |
| PGR Progressive Corp. | Add +48.3% | 0.39% | +0.16 |
| EFA iShares MSCI Eafe ETF | Add +104.2% | 0.29% | +0.16 |
| CVX Chevron Corp. | Add +25.6% | 0.49% | +0.15 |
| RSP Invesco S&P 500 Equal Weight | Add +92.3% | 0.31% | +0.15 |
| DIA SS SPDR Dow Jones Indus Avg | Add +92.0% | 0.29% | +0.14 |
| COP Conocophillips | Add +128.2% | 0.23% | +0.14 |
| DHR Danaher Corp. | Add +96.8% | 0.32% | +0.14 |
| LLY Eli Lilly & Co. | Add +24.3% | 0.55% | +0.13 |
| MRSH Marsh & McLennan Cos | Add +51.9% | 0.31% | +0.13 |
| PDD PDD Holdings Inc. | Add +12.1% | 0.49% | +0.13 |
| AMGN Amgen Inc. | Add +42.2% | 0.31% | +0.13 |
| MRK Merck & Co. Inc. | Add +43.2% | 0.57% | +0.12 |
| EWJ iShares MSCI Japan ETF | Add +2329.8% | 0.13% | +0.12 |
| XLV SS Health Care Select Sector | Add +1384.6% | 0.12% | +0.12 |
| SLV iShares Silver Trust | Add +1935.5% | 0.11% | +0.11 |
| TXN Texas Instruments Inc. | Add +42.8% | 0.42% | +0.11 |
| MO Altria Group Inc. | Add +83.0% | 0.20% | +0.11 |
| PM Philip Morris International | Add +7.9% | 0.36% | +0.11 |
| CVS CVS Health Corp. | Add +41.3% | 0.20% | +0.11 |
| EMB iShares JP Morgan Usd Emergi | Add +89.4% | 0.22% | +0.10 |
| PFE Pfizer Inc. | Add +32.9% | 0.49% | +0.10 |
| QQQ Invesco QQQ Trust Series 1 | Add +31.4% | 0.60% | +0.10 |
| XLF SS Financial Select Sector | Add +20.3% | 0.52% | +0.10 |
| ARM Arm Holdings PLC-ADR | Add +136.3% | 0.18% | +0.09 |
| SOXX iShares Semiconductor ETF | Add +220.2% | 0.14% | +0.09 |
| ABT Abbott Laboratories | Add +13.9% | 0.36% | +0.09 |
| NEE Nextera Energy Inc. | Add +56.6% | 0.25% | +0.09 |
| T AT&T Inc. | Add +8.4% | 0.34% | +0.09 |
| AMAT Applied Materials Inc. | Add +35.3% | 0.52% | +0.08 |
| SMH Vaneck Semiconductor ETF | Add +53.7% | 0.33% | +0.08 |
| ASML ASML Holding NV-NY Reg SHS | Add +93.2% | 0.18% | +0.08 |
| V Visa Inc. Class A | Add +1.5% | 0.76% | +0.08 |
| XPEV Xpeng Inc. - ADR | Add +567.4% | 0.09% | +0.08 |
| XRT SS SPDR S&P Retail ETF | Add +81410.1% | 0.08% | +0.08 |
| INTC Intel Corp. | Add +20.6% | 0.28% | +0.07 |
| BMY Bristol-Myers Squibb Co. | Add +33.1% | 0.25% | +0.07 |
Options Activity Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | put | Reduce -6.6% | 195,101 | $2.1B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -71.9% | 29,267 | $1.6B |
| TSLA Tesla Inc. | put | Reduce -9.3% | 55,273 | $1.4B |
| MSFT Microsoft Corp. | put | Add +3.5% | 34,425 | $1.3B |
| IWM iShares Russell 2000 ETF | put | Reduce -29.4% | 54,009 | $1.1B |
| AMD Advanced Micro Devices | put | Add +33.6% | 101,539 | $1.0B |
| QQQ Invesco QQQ Trust Series 1 | put | Add +17.8% | 21,296 | $998.6M |
| IWM iShares Russell 2000 ETF | call | Add +31.0% | 50,025 | $997.9M |
| AMZN Amazon.com Inc. | put | Reduce -8.7% | 45,709 | $869.7M |
| AAPL Apple Inc. | put | Reduce -42.5% | 32,533 | $722.7M |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -5.8% | 15,405 | $722.4M |
| META Meta Platforms Inc. Class A | put | Reduce -14.9% | 11,182 | $644.5M |
| GOOGL Alphabet Inc. Class A | put | Add +4.3% | 38,396 | $593.8M |
| EEM iShares MSCI Emerging Market | call | Add +52.7% | 107,375 | $469.2M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | New | 53,000 | $418.1M |
| EEM iShares MSCI Emerging Market | put | Add +5.9% | 93,875 | $410.2M |
| UNH Unitedhealth Group Inc. | put | Add +266.1% | 7,753 | $406.1M |
| AVGO Broadcom Inc. | put | Add +50.6% | 23,362 | $391.1M |
| JPM JPMorgan Chase & Co. | put | Reduce -54.5% | 14,438 | $354.2M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +16.1% | 6,103 | $341.4M |
| AAPL Apple Inc. | call | Reduce -34.3% | 15,016 | $333.6M |
| XLF SS Financial Select Sector | put | Reduce -32.5% | 60,245 | $300.1M |
| SLV iShares Silver Trust | call | Add +339.4% | 89,890 | $278.6M |
| META Meta Platforms Inc. Class A | call | Reduce -13.3% | 4,796 | $276.4M |
| NFLX Netflix Inc. | put | Reduce -53.4% | 2,908 | $271.2M |
| C Citigroup Inc. | put | Reduce -22.5% | 38,011 | $269.8M |
| SMH Vaneck Semiconductor ETF | call | Add +112.5% | 12,065 | $255.1M |
| BAC Bank of America Corp. | put | Reduce -42.2% | 60,101 | $250.8M |
| AMZN Amazon.com Inc. | call | Add +22.0% | 12,469 | $237.2M |
| EFA iShares MSCI Eafe ETF | put | Reduce -12.4% | 27,384 | $223.8M |
| AXP American Express Co. | put | Reduce -28.8% | 7,829 | $210.6M |
| NVDA Nvidia Corp. | call | Reduce -44.9% | 18,835 | $204.1M |
| GLD SPDR Gold Shares | call | Add +455.0% | 6,965 | $200.7M |
| XLV SS Health Care Select Sector | put | New | 13,600 | $198.6M |
| AMD Advanced Micro Devices | call | Add +44.7% | 19,302 | $198.3M |
| XLE SS Energy Select Sector | put | Reduce -0.7% | 21,109 | $197.3M |
| FXI iShares China Large-Cap ETF | put | Add +36.8% | 51,084 | $183.1M |
| XOM Exxon Mobil Corp. | put | Add +30.0% | 15,213 | $180.9M |
| AMAT Applied Materials Inc. | put | Add +45.0% | 12,209 | $177.2M |
| FXI iShares China Large-Cap ETF | call | Add +59.8% | 48,077 | $172.3M |
| XLV SS Health Care Select Sector | call | Add +1.7% | 11,700 | $170.8M |
| BX Blackstone Inc. | put | Add +3.1% | 12,201 | $170.5M |
| KRE SS SPDR S&P Regional Bank | put | Reduce -36.6% | 29,981 | $170.4M |
| GOOGL Alphabet Inc. Class A | call | Add +7.3% | 11,012 | $170.3M |
| UBER Uber Technologies Inc. | put | Add +116.4% | 22,772 | $165.9M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -43.4% | 20,628 | $162.7M |
| MU Micron Technology Inc. | put | Reduce -15.6% | 18,476 | $160.5M |
| GS Goldman Sachs Group Inc. | put | Reduce -19.5% | 2,932 | $160.2M |
| PFE Pfizer Inc. | put | Add +53.8% | 62,664 | $158.8M |
| TSLA Tesla Inc. | call | Reduce -29.6% | 6,019 | $156.0M |
Showing the first 50 of 909.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Add +204.4% | 54,541,000 | $80.3M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Reduce -7.4% | 85,651,000 | $74.2M |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Add +1455.9% | 52,868,000 | $49.3M |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Reduce -13.8% | 50,022,000 | $45.9M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +177.9% | 43,188,000 | $42.4M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Reduce -7.8% | 42,255,000 | $41.2M |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | Add +3.5% | 8,727,000 | $36.1M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +69.4% | 34,838,000 | $36.1M |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Add +214178.6% | 29,999,000 | $34.1M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Add +344.6% | 33,517,000 | $33.6M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Reduce -20.4% | 35,000,000 | $33.2M |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | Add +81.5% | 30,000,000 | $31.9M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Reduce -26.7% | 27,500,000 | $31.4M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Add +1438.1% | 28,178,000 | $29.9M |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | Sold out | 31,532,000 | $29.2Mbefore exit |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Add +49.3% | 32,006,000 | $28.4M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Reduce -16.6% | 25,139,460 | $28.1M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +39.7% | 27,749,000 | $27.3M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Add +28.2% | 28,234,000 | $26.6M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Add +955.0% | 27,009,000 | $26.4M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Add +895.1% | 24,877,000 | $26.3M |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | Add +36.5% | 23,675,000 | $26.2M |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | Add +15.1% | 11,129,000 | $26.1M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | Reduce -6.3% | 22,615,000 | $25.9M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | New | 27,000,000 | $25.0M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Add +10.9% | 27,096,000 | $24.7M |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | New | 34,130,000 | $24.3M |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | New | 9,665,000 | $23.6M |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | Add +20.5% | 20,911,000 | $22.5M |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Add +15.8% | 16,889,000 | $22.2M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +24.3% | 17,269,000 | $22.2M |
| PEGASYSTEMS INC (PEGA 0.75 03/01/25) | NOTE 0.750% 3/0 · principal | Sold out | 22,399,000 | $22.2Mbefore exit |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Add +34.7% | 14,491,000 | $20.5M |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | Add +13.1% | 20,412,000 | $18.5M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Add +1259.9% | 18,699,000 | $18.0M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -37.8% | 17,681,000 | $17.4M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +111.1% | 19,963,000 | $17.2M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Add +69.4% | 15,489,000 | $16.6M |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Add +75.0% | 17,923,000 | $15.9M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Sold out | 15,303,000 | $15.8Mbefore exit |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Reduce -17.3% | 15,715,000 | $14.6M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Add +15.7% | 10,731,000 | $14.2M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Add +583.1% | 13,663,000 | $13.6M |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | New | 13,191,000 | $13.0M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +423.7% | 13,166,000 | $13.0M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +104.8% | 14,481,000 | $12.9M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +86.1% | 10,561,000 | $12.9M |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | Add +22.9% | 10,725,000 | $12.4M |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | Add +15.3% | 17,873,000 | $11.9M |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | Add +60.8% | 11,987,000 | $11.7M |
Showing the first 50 of 182.
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 | 4,698 | $189.5B | MU, NVDA, AMZN, TSLA, GOOGL |
| Q1 2026 | 4,674 | $149.3B | NVDA, MSFT, AMZN, AAPL, XBI |
| Q4 2025 | 4,576 | $155.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q3 2025 | 4,519 | $126.1B | NVDA, MSFT, META, AAPL, TSLA |
| Q2 2025 | 4,426 | $126.3B | NVDA, MSFT, AAPL, AVGO, META |
| Q1 2025 | 4,355 | $129.2B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 4,367 | $127.9B | NVDA, MSFT, AAPL, AMZN, TSLA |
| Q3 2024 | 3,248 | $102.0B | NVDA, MSFT, AAPL, META, AMZN |
| Q2 2024 | 3,185 | $91.3B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2024 | 3,188 | $80.0B | MSFT, AAPL, NVDA, META, AMZN |