BNP Paribas Financial Markets
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), BNP Paribas Financial Markets reported 4,426 stock positions worth $126.3 billion. Its top holding was Nvidia (NVDA) at 4.4% of the portfolio, followed by Microsoft (MSFT, 3.8%) and Apple (AAPL, 3.2%). Compared with Q1 2025, it opened 285 new positions, sold out of 215, added to 2,172 and reduced 1,800. The biggest buy was Broadcom (AVGO, shares +12%) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0001166588
- Portfolio Value
- $126.3B (Q2 2025)
- SEC Filing
- 0001166588-25-000035 ↗ filed Aug 14, 2025
Holdings Value
Holdings 4,426 stocks · $126.3B
| NVDA Nvidia Corp. | 4.37% | 34,969,013 | $5.5B | Reduce -2.9% |
| MSFT Microsoft Corp. | 3.82% | 9,688,119 | $4.8B | Reduce -4.3% |
| AAPL Apple Inc. | 3.21% | 19,749,991 | $4.1B | Add +10.1% |
| AVGO Broadcom Inc. | 2.47% | 11,314,354 | $3.1B | Add +12.2% |
| META Meta Platforms Inc. Class A | 2.34% | 4,000,241 | $3.0B | Add +15.1% |
| AMZN Amazon.com Inc. | 1.86% | 10,703,242 | $2.3B | Reduce -27.5% |
| IVV iShares Core S&P 500 ETF | 1.54% | 3,128,104 | $1.9B | Add +43.9% |
| TSLA Tesla Inc. | 1.49% | 5,931,626 | $1.9B | Reduce -13.3% |
| GOOGL Alphabet Inc. Class A | 1.37% | 9,829,255 | $1.7B | Reduce -9.0% |
| JPM JPMorgan Chase & Co. | 1.23% | 5,336,164 | $1.5B | Add +6.9% |
| GE General Electric filed as GE AEROSPACE | 1.18% | 5,796,058 | $1.5B | Add +42.0% |
| GOOG Alphabet Inc. Class C | 1.14% | 8,088,510 | $1.4B | Reduce -9.9% |
| UNH Unitedhealth Group Inc. | 0.78% | 3,157,851 | $985.2M | Add +50.9% |
| AMD Advanced Micro Devices | 0.78% | 6,936,536 | $984.3M | Reduce -36.5% |
| IWM iShares Russell 2000 ETF | 0.74% | 4,306,198 | $929.2M | Reduce -29.0% |
| CSCO Cisco Systems Inc. | 0.73% | 13,241,877 | $918.7M | Reduce -22.2% |
| V Visa Inc. Class A | 0.69% | 2,441,693 | $866.9M | Reduce -12.9% |
| NFLX Netflix Inc. | 0.67% | 627,725 | $840.6M | Reduce -22.1% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.64% | 10,055,472 | $811.0M | Add +111.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.64% | 1,304,654 | $806.1M | Add +20.4% |
| COST Costco Wholesale Corp. | 0.57% | 723,216 | $715.9M | Add +26.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.54% | 1,403,092 | $681.6M | Reduce -41.1% |
| TXN Texas Instruments Inc. | 0.54% | 3,279,927 | $681.0M | Add +9.6% |
| SOXX iShares Semiconductor ETF | 0.52% | 2,738,823 | $653.8M | Add +182.9% |
| LLY Eli Lilly & Co. | 0.52% | 834,368 | $650.4M | Reduce -2.3% |
| XBI SS SPDR S&P Biotech ETF | 0.50% | 7,610,581 | $631.1M | Reduce -24.7% |
| XLI SS Industrial Select Sector | 0.50% | 4,263,788 | $629.0M | Add +11.0% |
| FLUT Flutter Entertainment PLC-Di | 0.49% | 2,168,932 | $619.8M | Add +8.7% |
| XOM Exxon Mobil Corp. | 0.48% | 5,644,181 | $608.4M | Reduce -32.8% |
| ADI Analog Devices Inc. | 0.48% | 2,553,767 | $607.8M | Reduce -32.8% |
| MA Mastercard Inc. Class A | 0.47% | 1,059,456 | $595.4M | Reduce -6.5% |
| SMH Vaneck Semiconductor ETF | 0.47% | 2,127,915 | $593.4M | Add +6.8% |
| RSP Invesco S&P 500 Equal Weight | 0.46% | 3,184,827 | $578.8M | Add +35.8% |
| PDD PDD Holdings Inc. | 0.45% | 5,464,091 | $571.9M | Add +2.3% |
| QCOM Qualcomm Inc. | 0.44% | 3,521,660 | $560.9M | Add +25.3% |
| AMAT Applied Materials Inc. | 0.43% | 2,936,996 | $537.7M | Reduce -36.2% |
| MRK Merck & Co. Inc. | 0.42% | 6,644,333 | $526.0M | Reduce -19.0% |
| PFE Pfizer Inc. | 0.40% | 21,074,070 | $510.8M | Reduce -16.2% |
| ORCL Oracle Corp. | 0.40% | 2,320,494 | $507.3M | Reduce -31.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.40% | 915,602 | $505.1M | Reduce -45.1% |
| INTU Intuit Inc. | 0.40% | 635,530 | $500.6M | Reduce -12.1% |
| JNJ Johnson & Johnson | 0.39% | 3,259,304 | $497.9M | Add +21.9% |
| ABBV Abbvie Inc. | 0.39% | 2,647,139 | $491.4M | Reduce -13.9% |
| SPGI S&P Global Inc. | 0.38% | 913,191 | $481.5M | Add +99.2% |
| ADBE Adobe Inc. | 0.38% | 1,236,137 | $478.2M | Reduce -0.2% |
| HD Home Depot Inc. | 0.38% | 1,302,996 | $477.7M | Reduce -11.3% |
| MU Micron Technology Inc. | 0.38% | 3,867,173 | $476.6M | Reduce -10.6% |
| PM Philip Morris International | 0.38% | 2,615,602 | $476.4M | Reduce -11.4% |
| CRM Salesforce Inc. | 0.38% | 1,743,080 | $475.3M | Reduce -23.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 9,991,090 | $472.8M | Reduce -32.1% |
| CMCSA Comcast Corp. Class A | 0.37% | 13,209,361 | $471.4M | Add +13.0% |
| T AT&T Inc. | 0.37% | 16,212,463 | $469.2M | Add +3.6% |
| TMO Thermo Fisher Scientific Inc. | 0.37% | 1,152,336 | $467.2M | Reduce -5.4% |
| ABT Abbott Laboratories | 0.36% | 3,337,867 | $454.0M | Reduce -4.8% |
| CVX Chevron Corp. | 0.35% | 3,118,213 | $446.5M | Reduce -17.7% |
| XLF SS Financial Select Sector | 0.35% | 8,327,421 | $436.1M | Reduce -38.3% |
| PLTR Palantir Technologies Inc. Class A | 0.34% | 3,157,418 | $430.4M | Reduce -23.4% |
| LRCX Lam Research Corp. | 0.33% | 4,267,972 | $415.4M | Reduce -18.0% |
| INTC Intel Corp. | 0.33% | 18,525,454 | $415.0M | Add +15.1% |
| XLE SS Energy Select Sector | 0.31% | 4,605,089 | $390.6M | Add +26.0% |
| PG The Procter & Gamble Co. | 0.31% | 2,449,417 | $390.2M | Reduce -40.7% |
| TMUS T-Mobile US Inc. | 0.31% | 1,628,359 | $388.0M | Add +60.2% |
| VZ Verizon Communications Inc. | 0.30% | 8,699,840 | $376.4M | Add +1.1% |
| LIN Linde PLC | 0.29% | 793,879 | $372.5M | Reduce -30.2% |
| ISRG Intuitive Surgical Inc. | 0.29% | 674,140 | $366.3M | Add +27.5% |
| AXP American Express Co. | 0.28% | 1,101,461 | $351.3M | Reduce -32.6% |
| PGR Progressive Corp. | 0.28% | 1,308,220 | $349.1M | Reduce -25.9% |
| BKNG Booking Holdings Inc. | 0.28% | 60,074 | $347.8M | Reduce -29.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 1,133,068 | $334.0M | Reduce -58.8% |
| WFC Wells Fargo & Co. | 0.26% | 4,086,288 | $327.4M | Add +2.1% |
| ACN Accenture PLC Class A | 0.26% | 1,094,875 | $327.2M | Add +11.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.26% | 2,615,303 | $324.3M | Reduce -45.8% |
| DHR Danaher Corp. | 0.26% | 1,630,857 | $322.2M | Reduce -18.6% |
| GS Goldman Sachs Group Inc. | 0.25% | 451,792 | $319.8M | Reduce -47.5% |
| TEAM Atlassian Corp. Class A | 0.25% | 1,565,223 | $317.9M | Add +24.4% |
| BSX Boston Scientific Corp. | 0.24% | 2,872,124 | $308.5M | Reduce -10.4% |
| KLAC KLA Corp. | 0.24% | 341,576 | $306.0M | Reduce -13.4% |
| EFA iShares MSCI Eafe ETF | 0.24% | 3,411,914 | $305.0M | Reduce -25.1% |
| BLK BlackRock Inc. | 0.24% | 290,315 | $304.6M | Reduce -9.3% |
| EMB iShares JP Morgan Usd Emergi | 0.23% | 3,144,433 | $291.2M | Add +1.1% |
| RBLX Roblox Corp. Class A | 0.23% | 2,763,076 | $290.7M | Reduce -8.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.23% | 1,273,745 | $288.5M | Reduce -20.7% |
| ACWI iShares MSCI Acwi ETF | 0.22% | 2,192,824 | $282.0M | Reduce -7.8% |
| MELI MercadoLibre Inc. | 0.22% | 105,359 | $275.4M | Add +34.4% |
| REGN Regeneron Pharmaceuticals | 0.22% | 524,358 | $275.3M | Reduce -29.8% |
| WMT Walmart Inc. | 0.22% | 2,790,349 | $272.8M | Reduce -61.8% |
| BMY Bristol-Myers Squibb Co. | 0.21% | 5,731,088 | $265.3M | Add +9.4% |
| NOW ServiceNow Inc. | 0.21% | 253,839 | $261.0M | Reduce -39.3% |
| AMGN Amgen Inc. | 0.20% | 925,489 | $258.4M | Reduce -27.9% |
| UNP Union Pacific Corp. | 0.20% | 1,108,184 | $255.0M | Reduce -26.4% |
| MS Morgan Stanley | 0.20% | 1,797,450 | $253.2M | Reduce -22.7% |
| XLY SS Consumer Disc Select Sect | 0.19% | 1,125,169 | $244.5M | Add +17.2% |
| SBUX Starbucks Corp. | 0.19% | 2,653,972 | $243.2M | Add +61.8% |
| DE Deere & Co. | 0.19% | 476,675 | $242.4M | Reduce -17.3% |
| SE Sea Ltd.-ADR | 0.19% | 1,507,253 | $241.1M | Add +52.3% |
| JBL Jabil Inc. | 0.19% | 1,102,382 | $240.4M | Add +158.3% |
| CAT Caterpillar Inc. | 0.19% | 618,400 | $240.1M | Reduce -12.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.19% | 2,915,036 | $238.0M | Add +653.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.19% | 531,188 | $236.5M | Reduce -9.7% |
| BP BP PLC-Spons ADR | 0.19% | 7,854,604 | $235.1M | Add +87.5% |
Options reported separately and not counted above: SPY puts ($3.8B), NVDA puts ($3.0B), TSLA puts ($2.3B), IWM puts ($1.8B), IWM calls ($1.5B), QQQ puts ($1.5B), MSFT puts ($1.5B), AMZN puts ($1.2B), QQQ calls ($994.4M), AMD puts ($912.3M), META puts ($742.7M), SPY calls ($676.9M), and 804 more.
Other holdings (190): bonds, preferreds, convertibles and warrants · $2.3B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 79,515,000 | $141.2M | Add +45.8% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 80,351,000 | $91.6M | Add +197.5% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 55,255,000 | $65.4M | Add +3158.0% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 62,531,000 | $62.0M | Add +44.8% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 32,337,000 | $58.0M | Add +87.3% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 59,891,000 | $56.0M | Add +13.3% |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | 8,756,000 | $55.2M | Add +0.3% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 37,555,000 | $53.3M | Add +336.0% |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 13,712,000 | $49.7M | Add +23.2% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 36,709,000 | $43.9M | Add +30.3% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 35,168,000 | $39.0M | New |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 40,732,000 | $36.7M | Add +27.3% |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 31,930,000 | $35.1M | Add +6.4% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 34,077,000 | $35.0M | Add +914.5% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 33,282,000 | $33.7M | Reduce -0.7% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 20,458,000 | $32.8M | Add +32.1% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 24,681,000 | $31.2M | Add +9.1% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 33,880,000 | $30.4M | Reduce -60.4% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 31,680,000 | $30.1M | Add +12.2% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 27,519,000 | $28.5M | Add +390.5% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 30,000,000 | $28.4M | Reduce -14.3% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 30,355,000 | $28.1M | Add +52.1% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 30,000,000 | $28.0M | Add +11.1% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 21,707,000 | $27.5M | Add +49.8% |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 27,145,000 | $27.1M | Add +105.8% |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 22,407,000 | $26.9M | Add +7.2% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 25,068,000 | $26.6M | Add +5.9% |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 9,457,000 | $26.6M | Reduce -2.1% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 27,948,000 | $26.4M | Add +3.1% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 25,293,000 | $25.7M | Add +92.1% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 26,809,000 | $25.2M | Add +85.1% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 24,152,000 | $25.1M | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 18,360,000 | $23.4M | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 16,210,000 | $23.1M | Add +53.5% |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 12,557,000 | $23.0M | New |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 15,313,000 | $22.7M | Reduce -9.3% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 23,166,000 | $22.5M | Reduce -16.5% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 22,717,000 | $21.8M | Add +21.5% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 16,498,000 | $21.5M | Add +197.7% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 20,967,000 | $21.0M | Reduce -15.7% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 20,421,000 | $20.5M | New |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 22,314,000 | $20.3M | Add +24.5% |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 14,033,000 | $19.8M | Add +2474.9% |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 20,704,000 | $19.6M | Add +1.4% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 10,257,000 | $18.4M | Add +31.3% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 16,298,000 | $18.4M | New |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 11,778,000 | $16.0M | Add +505.9% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 14,607,000 | $14.5M | Reduce -17.4% |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 13,816,000 | $14.4M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 11,617,000 | $14.3M | Add +2209.5% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 13,063,000 | $13.9M | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 13,937,000 | $13.7M | Add +34.0% |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 14,267,000 | $13.4M | Add +45.1% |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 9,448,000 | $13.3M | New |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 11,980,000 | $12.7M | Add +373.7% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 9,408,000 | $12.3M | New |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | 13,040,000 | $11.8M | Add +443.3% |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 17,500,000 | $11.6M | Reduce -48.7% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 11,500,000 | $11.4M | Reduce -4.1% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 9,550,000 | $11.4M | New |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 12,103,000 | $11.3M | Add +461.9% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 9,697,000 | $11.2M | Add +1005.7% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 9,355,000 | $11.0M | Add +91.1% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 11,016,000 | $10.8M | Reduce -0.1% |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 11,000,000 | $10.7M | New |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 9,000,000 | $10.5M | Reduce -16.1% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 5,701,000 | $10.2M | No change |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 9,233,000 | $9.9M | Add +4.0% |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | 10,040,000 | $9.8M | New |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 8,002,500 | $9.5M | Reduce -68.2% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 9,651,000 | $9.3M | Add +6.1% |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 9,654,000 | $9.3M | Add +14.5% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 9,264,000 | $9.2M | Add +4775.8% |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 15,873,000 | $9.1M | Reduce -11.2% |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 9,225,000 | $9.0M | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 5,904,000 | $8.9M | Reduce -26.2% |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 6,500,000 | $8.9M | New |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 7,353,000 | $8.8M | Reduce -2.0% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 9,709,000 | $8.7M | New |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 7,500,000 | $8.5M | No change |
| SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) | NOTE 3.500%12/0 · principal | 6,000,000 | $8.4M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,314,000 | $8.2M | Add +48.8% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 8,469,000 | $7.9M | Reduce -46.1% |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 6,006,000 | $7.5M | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 2,447,000 | $7.4M | No change |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 6,182,000 | $7.4M | Add +117.2% |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 7,358,000 | $7.2M | Add +8.9% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 6,715,000 | $7.2M | Add +15516.3% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 8,041,000 | $7.0M | Add +1207.5% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 7,265,000 | $6.5M | Add +2321.7% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 5,401,000 | $6.3M | New |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 5,100,000 | $6.2M | Add +397.6% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 6,885,000 | $6.2M | Add +17.2% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 7,075,000 | $6.1M | Reduce -9.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 6,300,000 | $6.0M | Add +98.6% |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 7,795,000 | $5.7M | Add +69.5% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 5,283,000 | $5.4M | Add +484.4% |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 5,296,000 | $5.1M | New |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 3,587,000 | $4.8M | Reduce -53.5% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 5,000,000 | $4.7M | No change |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 4,650,000 | $4.6M | Reduce -7.0% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 4,472,000 | $4.5M | Reduce -87.2% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 3,909,000 | $4.5M | New |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 2,884,000 | $4.3M | Add +59.1% |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 5,023,000 | $4.3M | Reduce -32.1% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 3,400,000 | $4.1M | New |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 4,068,000 | $3.9M | Add +0.1% |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 2,975,000 | $3.8M | New |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 3,392,000 | $3.7M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 3,359,000 | $3.7M | Add +52.1% |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 3,727,000 | $3.7M | Reduce -17.2% |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 3,067,000 | $3.6M | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 3,113,000 | $3.4M | Reduce -23.6% |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 6,000,000 | $3.4M | Reduce -66.7% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 3,526,000 | $3.4M | Reduce -20.4% |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 2,847,000 | $3.2M | Add +132.8% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 3,204,000 | $3.2M | New |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 2,316,000 | $3.1M | Reduce -56.0% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 1,600,000 | $3.0M | Reduce -5.9% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 2,122,000 | $2.9M | New |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 2,871,000 | $2.8M | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 2,450,000 | $2.8M | Reduce -10.8% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 3,000,000 | $2.6M | Reduce -25.5% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 3,008,000 | $2.5M | Reduce -0.9% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 2,193,000 | $2.5M | Reduce -92.7% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 2,231,000 | $2.3M | Reduce -94.7% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 2,136,000 | $2.3M | Reduce -13.9% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 2,000,000 | $2.3M | Reduce -25.5% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 2,161,000 | $2.1M | Reduce -42.4% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 1,710,000 | $2.0M | Reduce -17.4% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 1,314,000 | $2.0M | Add +57.5% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 1,997,000 | $2.0M | Reduce -78.4% |
| PROS HOLDINGS INC (PRO 2.5 07/01/30) | DEBT 2.500% 7/0 · principal | 1,855,000 | $2.0M | New |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 2,058,000 | $1.9M | Reduce -72.6% |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 1,993,000 | $1.9M | Reduce -14.9% |
| HERTZ CORP/THE (HTZ 8 07/15/29) | NOTE 8.000% 7/1 · principal | 1,412,000 | $1.8M | New |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 455,000 | $1.8M | Add +0.2% |
| WORKIVA INC (WK 1.125 08/15/26) | NOTE 1.125% 8/1 · principal | 1,620,000 | $1.7M | Add +44.6% |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 595,000 | $1.7M | No change |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 1,719,000 | $1.6M | Add +79.4% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,500,000 | $1.6M | Add +7.8% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 1,378,000 | $1.3M | Add +2.8% |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 1,386,000 | $1.3M | New |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 1,036,000 | $1.2M | Reduce -86.7% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 649,000 | $1.1M | Add +19.1% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 982,000 | $1.0M | Reduce -73.8% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 872,000 | $1.0M | Reduce -87.9% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 737,000 | $921K | Add +4506.3% |
| MICROCHIP TECHNOLOGY INC (MCHP 1.625 02/15/27) | NOTE 1.625% 2/1 · principal | 427,000 | $858K | No change |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 879,000 | $843K | No change |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 614,000 | $623K | Reduce -76.1% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 656,000 | $608K | Reduce -65.8% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 649,000 | $607K | Reduce -93.6% |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 602,000 | $588K | No change |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 557,000 | $576K | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 528,000 | $570K | Add +2.3% |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 493,000 | $489K | No change |
| BILL HOLDINGS INC (BILL 0 12/01/25) | NOTE 12/0 · principal | 500,000 | $485K | No change |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 403,000 | $429K | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 442,000 | $429K | Add +30.0% |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 468,000 | $402K | Reduce -69.6% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 361,000 | $381K | Add +3.1% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 291,000 | $373K | Reduce -79.1% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 318,000 | $315K | Reduce -89.6% |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 274,000 | $272K | Reduce -17.2% |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | 200,000 | $267K | New |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 410,000 | $258K | No change |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 231,000 | $224K | No change |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | 846,000 | $212K | No change |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 153,000 | $182K | Reduce -93.2% |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | 113,000 | $112K | No change |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 51,000 | $109K | New |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 110,000 | $106K | Reduce -90.1% |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 97,000 | $93K | No change |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 56,000 | $56K | New |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 430 | $47K | No change |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 44,000 | $43K | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 24,000 | $22K | Reduce -100.0% |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG · principal | 29,900 | $20K | Reduce -33.9% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 21,000 | $20K | Reduce -98.7% |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 908 | $19K | No change |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | 283,333 | $10K | No change |
| XBPEW CF Acquisition Viii A -CW27 | *W EXP 11/30/202 | 149,050 | $8K | No change |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 912 | $7K | New |
| VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26) | NOTE 1.625% 3/1 · principal | 7,000 | $7K | New |
| CNX RESOURCES CORP (CNX 2.25 05/01/26) | NOTE 2.250% 5/0 · principal | 2,000 | $5K | New |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 2,000 | $2K | New |
| CPTWF Captivision Inc.-28 | *W EXP 11/15/202 | 75,000 | $2K | No change |
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | 369 | $382 | Reduce -44.8% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 17 | $62 | No change |
Total filed on the 13F, all lines: $128.6B.
Portfolio Sells Q1 2025 → Q2 2025
| BABA Alibaba Group Holding-SP ADR | Reduce -88.5% | 0.08% | −0.75 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -41.1% | 0.54% | −0.44 |
| QUAL iShares MSCI USA Quality Fac | Reduce -99.9% | 0.00% | −0.36 |
| AMZN Amazon.com Inc. | Reduce -27.5% | 1.86% | −0.32 |
| XOM Exxon Mobil Corp. | Reduce -32.8% | 0.48% | −0.29 |
| WMT Walmart Inc. | Reduce -61.8% | 0.22% | −0.28 |
| IBM Intl Business Machines Corp. | Reduce -58.8% | 0.26% | −0.26 |
| PG The Procter & Gamble Co. | Reduce -40.7% | 0.31% | −0.24 |
| MRSH Marsh & McLennan Cos | Reduce -68.8% | 0.09% | −0.22 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -45.1% | 0.40% | −0.21 |
| IWM iShares Russell 2000 ETF | Reduce -29.0% | 0.74% | −0.20 |
| MCD McDonald's Corp. | Reduce -61.7% | 0.10% | −0.18 |
| XLF SS Financial Select Sector | Reduce -38.3% | 0.35% | −0.17 |
| XLP SS Consumer Staples Sel Sect | Reduce -96.8% | 0.01% | −0.17 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -57.2% | 0.13% | −0.16 |
| VNQ Vanguard Real Estate ETF | Reduce -67.8% | 0.07% | −0.15 |
| MRK Merck & Co. Inc. | Reduce -19.0% | 0.42% | −0.15 |
| SCHW Schwab (charles) Corp. | Reduce -65.2% | 0.11% | −0.15 |
| GLD SPDR Gold Shares | Reduce -52.7% | 0.16% | −0.15 |
| REGN Regeneron Pharmaceuticals | Reduce -29.8% | 0.22% | −0.15 |
| TJX TJX Companies Inc. | Reduce -57.2% | 0.11% | −0.14 |
| KO The Coca-Cola Co. | Reduce -49.4% | 0.15% | −0.14 |
| CVX Chevron Corp. | Reduce -17.7% | 0.35% | −0.14 |
| XBI SS SPDR S&P Biotech ETF | Reduce -24.7% | 0.50% | −0.13 |
| APH Amphenol Corp. Class A | Reduce -78.8% | 0.06% | −0.13 |
| CME Cme Group Inc. | Reduce -55.3% | 0.11% | −0.13 |
| COP Conocophillips | Reduce -45.1% | 0.11% | −0.12 |
| LIN Linde PLC | Reduce -30.2% | 0.29% | −0.11 |
| VMC Vulcan Materials Co. | Reduce -80.5% | 0.03% | −0.11 |
| ADI Analog Devices Inc. | Reduce -32.8% | 0.48% | −0.11 |
| DIS The Walt Disney Co. | Reduce -45.8% | 0.26% | −0.11 |
| PGR Progressive Corp. | Reduce -25.9% | 0.28% | −0.11 |
| GS Goldman Sachs Group Inc. | Reduce -47.5% | 0.25% | −0.11 |
| NEE Nextera Energy Inc. | Reduce -44.0% | 0.14% | −0.11 |
| ABBV Abbvie Inc. | Reduce -13.9% | 0.39% | −0.11 |
| PEP Pepsico Inc. | Reduce -30.2% | 0.18% | −0.11 |
| AMGN Amgen Inc. | Reduce -27.9% | 0.20% | −0.10 |
| GILD Gilead Sciences Inc. | Reduce -37.6% | 0.18% | −0.10 |
| KRE SS SPDR S&P Regional Bank | Reduce -84.5% | 0.02% | −0.10 |
| MO Altria Group Inc. | Reduce -49.4% | 0.10% | −0.10 |
| BAC Bank of America Corp. | Reduce -32.1% | 0.37% | −0.10 |
| ET Energy Transfer LP | Reduce -41.5% | 0.14% | −0.10 |
| TMO Thermo Fisher Scientific Inc. | Reduce -5.4% | 0.37% | −0.10 |
| HON Honeywell International Inc. | Reduce -43.9% | 0.17% | −0.10 |
| ETN Eaton Corp. PLC | Reduce -60.5% | 0.11% | −0.10 |
| CRM Salesforce Inc. | Reduce -23.2% | 0.38% | −0.09 |
| EWJ iShares MSCI Japan ETF | Reduce -77.1% | 0.03% | −0.09 |
| CVS CVS Health Corp. | Reduce -48.3% | 0.11% | −0.09 |
| AMAT Applied Materials Inc. | Reduce -36.2% | 0.43% | −0.09 |
| FTNT Fortinet Inc. | Reduce -52.6% | 0.10% | −0.09 |
Portfolio Buys Q1 2025 → Q2 2025
| AVGO Broadcom Inc. | Add +12.2% | 2.47% | +1.16 |
| META Meta Platforms Inc. Class A | Add +15.1% | 2.34% | +0.79 |
| IVV iShares Core S&P 500 ETF | Add +43.9% | 1.54% | +0.59 |
| GE General Electric | Add +42.0% | 1.18% | +0.55 |
| SOXX iShares Semiconductor ETF | Add +182.9% | 0.52% | +0.38 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +111.8% | 0.64% | +0.35 |
| JPM JPMorgan Chase & Co. | Add +6.9% | 1.23% | +0.28 |
| SPGI S&P Global Inc. | Add +99.2% | 0.38% | +0.20 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +20.4% | 0.64% | +0.17 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +653.2% | 0.19% | +0.16 |
| COST Costco Wholesale Corp. | Add +26.9% | 0.57% | +0.15 |
| FLUT Flutter Entertainment PLC-Di | Add +8.7% | 0.49% | +0.15 |
| JBL Jabil Inc. | Add +158.3% | 0.19% | +0.15 |
| RSP Invesco S&P 500 Equal Weight | Add +35.8% | 0.46% | +0.14 |
| SMH Vaneck Semiconductor ETF | Add +6.8% | 0.47% | +0.14 |
| XLB SS Materials Select Sector | Add +6765.7% | 0.14% | +0.14 |
| FXI iShares China Large-Cap ETF | Add +299.3% | 0.17% | +0.13 |
| AAPL Apple Inc. | Add +10.1% | 3.21% | +0.13 |
| TXN Texas Instruments Inc. | Add +9.6% | 0.54% | +0.12 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +295.5% | 0.14% | +0.12 |
| QCOM Qualcomm Inc. | Add +25.3% | 0.44% | +0.11 |
| XLI SS Industrial Select Sector | Add +11.0% | 0.50% | +0.11 |
| SNOW Snowflake Inc. | Add +75.0% | 0.17% | +0.11 |
| NKE Nike Inc. Class B | Add +105.3% | 0.18% | +0.10 |
| MELI MercadoLibre Inc. | Add +34.4% | 0.22% | +0.10 |
| TMUS T-Mobile US Inc. | Add +60.2% | 0.31% | +0.10 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +391.7% | 0.12% | +0.10 |
| TTWO Take-Two Interactive Softwre | Add +90.2% | 0.16% | +0.09 |
| SE Sea Ltd.-ADR | Add +52.3% | 0.19% | +0.09 |
| SHOP Shopify Inc. Class A | Add +3009.9% | 0.09% | +0.09 |
| ISRG Intuitive Surgical Inc. | Add +27.5% | 0.29% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +758.7% | 0.10% | +0.09 |
| EWT iShares MSCI Taiwan ETF | Add +393.4% | 0.09% | +0.08 |
| BP BP PLC-Spons ADR | Add +87.5% | 0.19% | +0.08 |
| CHTR Charter Communications Inc. Class A | Add +123.5% | 0.12% | +0.07 |
| ITA iShares U.S. Aerospace & Def | Add +283.3% | 0.09% | +0.07 |
| ZS Zscaler Inc. | Add +186.8% | 0.09% | +0.07 |
| SBUX Starbucks Corp. | Add +61.8% | 0.19% | +0.07 |
| AS Amer Sports Inc. | Add +244.5% | 0.08% | +0.06 |
| APP AppLovin Corp. Class A | Add +77.4% | 0.09% | +0.05 |
| JNJ Johnson & Johnson | Add +21.9% | 0.39% | +0.05 |
| RBRK Rubrik Inc. Class A | Add +41.7% | 0.09% | +0.05 |
| MSTR Strategy Inc. | Add +64.7% | 0.08% | +0.05 |
| XLY SS Consumer Disc Select Sect | Add +17.2% | 0.19% | +0.05 |
| INTC Intel Corp. | Add +15.1% | 0.33% | +0.05 |
| MP MP Materials Corp. | Add +76.3% | 0.08% | +0.05 |
| TEAM Atlassian Corp. Class A | Add +24.4% | 0.25% | +0.04 |
| XLE SS Energy Select Sector | Add +26.0% | 0.31% | +0.04 |
| ATI Ati Inc. | Add +552.7% | 0.05% | +0.04 |
| DHI D.R. Horton Inc. | Add +40.9% | 0.14% | +0.04 |
Options Activity Q1 2025 → Q2 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +111.0% | 61,759 | $3.8B |
| NVDA Nvidia Corp. | put | Reduce -4.1% | 187,046 | $3.0B |
| TSLA Tesla Inc. | put | Add +32.2% | 73,065 | $2.3B |
| IWM iShares Russell 2000 ETF | put | Add +56.5% | 84,546 | $1.8B |
| IWM iShares Russell 2000 ETF | call | Add +43.0% | 71,511 | $1.5B |
| QQQ Invesco QQQ Trust Series 1 | put | Add +27.9% | 27,248 | $1.5B |
| MSFT Microsoft Corp. | put | Reduce -14.3% | 29,485 | $1.5B |
| AMZN Amazon.com Inc. | put | Add +18.7% | 54,240 | $1.2B |
| QQQ Invesco QQQ Trust Series 1 | call | Add +17.0% | 18,026 | $994.4M |
| AMD Advanced Micro Devices | put | Reduce -36.7% | 64,293 | $912.3M |
| META Meta Platforms Inc. Class A | put | Reduce -10.0% | 10,062 | $742.7M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +79.5% | 10,955 | $676.9M |
| SOXX iShares Semiconductor ETF | put | New | 25,447 | $607.4M |
| EEM iShares MSCI Emerging Market | call | Add +14.7% | 123,206 | $594.3M |
| GOOGL Alphabet Inc. Class A | put | Reduce -16.4% | 32,085 | $565.4M |
| AAPL Apple Inc. | put | Reduce -16.4% | 27,215 | $558.4M |
| AVGO Broadcom Inc. | put | Reduce -14.7% | 19,932 | $549.4M |
| JPM JPMorgan Chase & Co. | put | Add +17.1% | 16,902 | $490.0M |
| BAC Bank of America Corp. | put | Add +45.3% | 87,299 | $413.1M |
| NVDA Nvidia Corp. | call | Add +32.3% | 24,927 | $393.8M |
| C Citigroup Inc. | put | Add +8.2% | 41,113 | $350.0M |
| META Meta Platforms Inc. Class A | call | Reduce -5.2% | 4,546 | $335.5M |
| EEM iShares MSCI Emerging Market | put | Reduce -26.0% | 69,460 | $335.1M |
| MU Micron Technology Inc. | put | Add +43.3% | 26,476 | $326.3M |
| NFLX Netflix Inc. | put | Reduce -18.6% | 2,366 | $316.8M |
| XLK SS Technology Select Sector | put | Add +80.6% | 11,944 | $302.5M |
| SMH Vaneck Semiconductor ETF | call | Reduce -11.1% | 10,721 | $299.0M |
| MSFT Microsoft Corp. | call | Add +174.8% | 5,931 | $295.0M |
| SMH Vaneck Semiconductor ETF | put | Add +69.4% | 9,926 | $276.8M |
| XLF SS Financial Select Sector | put | Reduce -18.8% | 48,907 | $256.1M |
| AMD Advanced Micro Devices | call | Reduce -12.6% | 16,868 | $239.4M |
| AMAT Applied Materials Inc. | put | Add +4.3% | 12,738 | $233.2M |
| TSLA Tesla Inc. | call | Add +20.7% | 7,265 | $230.8M |
| XLE SS Energy Select Sector | put | Add +28.5% | 27,128 | $230.1M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +33.2% | 27,468 | $221.5M |
| GOOG Alphabet Inc. Class C | put | Add +129.6% | 12,472 | $221.2M |
| NOW ServiceNow Inc. | put | Add +752.2% | 2,122 | $218.2M |
| AVGO Broadcom Inc. | call | Add +10.5% | 7,909 | $218.0M |
| COIN Coinbase Global Inc. Class A | put | Reduce -0.3% | 6,124 | $214.6M |
| UBER Uber Technologies Inc. | put | Reduce -0.7% | 22,619 | $211.0M |
| NFLX Netflix Inc. | call | Add +8.5% | 1,522 | $203.8M |
| AMZN Amazon.com Inc. | call | Reduce -25.5% | 9,288 | $203.8M |
| KRE SS SPDR S&P Regional Bank | call | Add +620.3% | 34,120 | $202.6M |
| EFA iShares MSCI Eafe ETF | put | Reduce -17.7% | 22,545 | $201.5M |
| BX Blackstone Inc. | put | Add +10.2% | 13,450 | $201.2M |
| DASH DoorDash Inc. Class A | call | Add +4942.7% | 7,564 | $186.5M |
| AAPL Apple Inc. | call | Reduce -40.4% | 8,950 | $183.6M |
| LRCX Lam Research Corp. | put | Add +47.0% | 18,595 | $181.0M |
| SNOW Snowflake Inc. | call | Reduce -10.3% | 7,857 | $175.8M |
| XLK SS Technology Select Sector | call | Add +277.3% | 6,931 | $175.5M |
Showing the first 50 of 864.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Add +45.8% | 79,515,000 | $141.2M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Add +197.5% | 80,351,000 | $91.6M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Add +3158.0% | 55,255,000 | $65.4M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +44.8% | 62,531,000 | $62.0M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +87.3% | 32,337,000 | $58.0M |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Add +13.3% | 59,891,000 | $56.0M |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | Add +0.3% | 8,756,000 | $55.2M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Add +336.0% | 37,555,000 | $53.3M |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | Add +23.2% | 13,712,000 | $49.7M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Add +30.3% | 36,709,000 | $43.9M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | New | 35,168,000 | $39.0M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Add +27.3% | 40,732,000 | $36.7M |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | Add +6.4% | 31,930,000 | $35.1M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +914.5% | 34,077,000 | $35.0M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Reduce -0.7% | 33,282,000 | $33.7M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Add +32.1% | 20,458,000 | $32.8M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Sold out | 27,500,000 | $31.4Mbefore exit |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | Add +9.1% | 24,681,000 | $31.2M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Reduce -60.4% | 33,880,000 | $30.4M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Add +12.2% | 31,680,000 | $30.1M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +390.5% | 27,519,000 | $28.5M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Reduce -14.3% | 30,000,000 | $28.4M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +52.1% | 30,355,000 | $28.1M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | Add +11.1% | 30,000,000 | $28.0M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Add +49.8% | 21,707,000 | $27.5M |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | Add +105.8% | 27,145,000 | $27.1M |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | Add +7.2% | 22,407,000 | $26.9M |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | Add +5.9% | 25,068,000 | $26.6M |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | Reduce -2.1% | 9,457,000 | $26.6M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Add +3.1% | 27,948,000 | $26.4M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +92.1% | 25,293,000 | $25.7M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +85.1% | 26,809,000 | $25.2M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | New | 24,152,000 | $25.1M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 18,360,000 | $23.4M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +53.5% | 16,210,000 | $23.1M |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | New | 12,557,000 | $23.0M |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Reduce -9.3% | 15,313,000 | $22.7M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Reduce -16.5% | 23,166,000 | $22.5M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Add +21.5% | 22,717,000 | $21.8M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +197.7% | 16,498,000 | $21.5M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Reduce -15.7% | 20,967,000 | $21.0M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | New | 20,421,000 | $20.5M |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Add +24.5% | 22,314,000 | $20.3M |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | Add +2474.9% | 14,033,000 | $19.8M |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | Add +1.4% | 20,704,000 | $19.6M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Add +31.3% | 10,257,000 | $18.4M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 16,298,000 | $18.4M |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Add +505.9% | 11,778,000 | $16.0M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -17.4% | 14,607,000 | $14.5M |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | New | 13,816,000 | $14.4M |
Showing the first 50 of 192.
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 |