BNP Paribas Financial Markets
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), BNP Paribas Financial Markets reported 4,576 stock positions worth $155.9 billion. Its top holding was Nvidia (NVDA) at 4.1% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Apple (AAPL, 3.3%). Compared with Q3 2025, it opened 276 new positions, sold out of 223, added to 2,275 and reduced 1,772. The biggest buy was Microsoft (MSFT, shares +78%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −74%).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0001166588
- Portfolio Value
- $155.9B (Q4 2025)
- SEC Filing
- 0001166588-26-000003 ↗ filed Feb 10, 2026
Holdings Value
Holdings 4,576 stocks · $155.9B
| NVDA Nvidia Corp. | 4.13% | 34,491,798 | $6.4B | Add +43.3% |
| MSFT Microsoft Corp. | 4.03% | 12,982,259 | $6.3B | Add +77.6% |
| AAPL Apple Inc. | 3.32% | 19,045,380 | $5.2B | Add +63.0% |
| AMZN Amazon.com Inc. | 2.72% | 18,377,229 | $4.2B | Add +55.7% |
| META Meta Platforms Inc. Class A | 2.06% | 4,876,934 | $3.2B | Add +14.8% |
| TSLA Tesla Inc. | 1.97% | 6,840,264 | $3.1B | Add +8.2% |
| GOOGL Alphabet Inc. Class A | 1.67% | 8,305,775 | $2.6B | Add +6.3% |
| JPM JPMorgan Chase & Co. | 1.64% | 7,914,787 | $2.6B | Add +29.9% |
| AVGO Broadcom Inc. | 1.56% | 7,041,511 | $2.4B | Add +19.4% |
| XBI SS SPDR S&P Biotech ETF | 1.30% | 16,587,354 | $2.0B | Add +178.1% |
| GOOG Alphabet Inc. Class C | 1.18% | 5,851,943 | $1.8B | Add +40.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.17% | 2,669,240 | $1.8B | Add +27.8% |
| CSCO Cisco Systems Inc. | 0.92% | 18,714,641 | $1.4B | Add +26.9% |
| MU Micron Technology Inc. | 0.91% | 4,952,986 | $1.4B | Add +16.7% |
| AMD Advanced Micro Devices | 0.85% | 6,201,741 | $1.3B | Add +12.5% |
| IWM iShares Russell 2000 ETF | 0.78% | 4,961,585 | $1.2B | Add +11.1% |
| GE General Electric filed as GE AEROSPACE | 0.69% | 3,467,240 | $1.1B | Add +7.5% |
| COST Costco Wholesale Corp. | 0.61% | 1,102,746 | $950.9M | Add +108.0% |
| V Visa Inc. Class A | 0.59% | 2,641,734 | $926.5M | Add +17.0% |
| UNH Unitedhealth Group Inc. | 0.58% | 2,746,426 | $906.6M | Add +30.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.58% | 1,786,018 | $897.7M | Add +38.3% |
| ADI Analog Devices Inc. | 0.52% | 3,009,481 | $816.2M | Add +24.7% |
| NFLX Netflix Inc. | 0.51% | 8,407,843 | $788.3M | Add +39.8% |
| XLP SS Consumer Staples Sel Sect | 0.50% | 10,087,573 | $783.6M | Add +1180.7% |
| ORCL Oracle Corp. | 0.50% | 4,000,917 | $779.8M | Add +144.2% |
| GEV GE Vernova Inc. | 0.50% | 1,191,120 | $778.5M | Add +98.8% |
| LLY Eli Lilly & Co. | 0.49% | 709,196 | $762.2M | Add +49.0% |
| PLTR Palantir Technologies Inc. Class A | 0.48% | 4,203,599 | $747.2M | Add +41.4% |
| ABBV Abbvie Inc. | 0.46% | 3,115,211 | $711.8M | Add +4.0% |
| TXN Texas Instruments Inc. | 0.43% | 3,865,198 | $670.6M | Add +40.7% |
| XOM Exxon Mobil Corp. | 0.42% | 5,464,698 | $657.6M | Reduce -7.3% |
| LRCX Lam Research Corp. | 0.39% | 3,540,902 | $606.1M | Add +30.8% |
| MA Mastercard Inc. Class A | 0.38% | 1,045,242 | $596.7M | Add +34.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.38% | 970,741 | $596.3M | Reduce -14.6% |
| PDD PDD Holdings Inc. | 0.37% | 5,146,573 | $583.6M | Add +2.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 1,959,226 | $580.3M | Add +41.0% |
| IVV iShares Core S&P 500 ETF | 0.36% | 824,931 | $565.0M | Reduce -74.1% |
| GLD SPDR Gold Shares | 0.36% | 1,406,200 | $557.3M | Add +72.0% |
| TMUS T-Mobile US Inc. | 0.35% | 2,678,119 | $543.8M | Add +25.6% |
| IGV iShares Expanded Tech-Softwa | 0.35% | 5,133,226 | $542.5M | Add +104.7% |
| KLAC KLA Corp. | 0.34% | 438,710 | $533.1M | Add +84.6% |
| QCOM Qualcomm Inc. | 0.34% | 3,104,478 | $531.0M | Reduce -12.4% |
| HD Home Depot Inc. | 0.34% | 1,541,871 | $530.6M | Add +87.2% |
| AMAT Applied Materials Inc. | 0.34% | 2,052,031 | $527.4M | Reduce -10.1% |
| LIN Linde PLC | 0.34% | 1,228,752 | $523.9M | Add +39.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.34% | 9,516,555 | $523.4M | Reduce -6.5% |
| CRM Salesforce Inc. | 0.33% | 1,970,524 | $522.0M | Reduce -6.7% |
| PM Philip Morris International | 0.33% | 3,241,347 | $519.9M | Add +943.0% |
| MS Morgan Stanley | 0.33% | 2,898,081 | $514.5M | Reduce -11.3% |
| ADBE Adobe Inc. | 0.32% | 1,405,528 | $491.9M | Reduce -13.2% |
| INTC Intel Corp. | 0.31% | 13,185,158 | $486.5M | Add +24.2% |
| WMT Walmart Inc. | 0.31% | 4,357,102 | $485.4M | Add +53.1% |
| HON Honeywell International Inc. | 0.31% | 2,441,611 | $476.3M | Add +165.1% |
| CMCSA Comcast Corp. Class A | 0.30% | 15,848,606 | $473.7M | Add +33.3% |
| AXP American Express Co. | 0.30% | 1,279,682 | $473.4M | Reduce -2.5% |
| GS Goldman Sachs Group Inc. | 0.30% | 535,882 | $471.0M | Add +22.1% |
| PGR Progressive Corp. | 0.30% | 2,064,090 | $470.0M | Add +7.2% |
| ABNB Airbnb Inc. Class A | 0.30% | 3,461,070 | $469.7M | Add +74.8% |
| RSP Invesco S&P 500 Equal Weight | 0.28% | 2,260,584 | $433.0M | Reduce -9.8% |
| CVX Chevron Corp. | 0.28% | 2,835,002 | $432.1M | Reduce -18.4% |
| INTU Intuit Inc. | 0.28% | 647,489 | $428.9M | Add +3.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 2,732,977 | $419.8M | Add +75.9% |
| BKNG Booking Holdings Inc. | 0.27% | 77,867 | $417.0M | Add +49.1% |
| APP AppLovin Corp. Class A | 0.27% | 617,750 | $416.3M | Add +27.8% |
| CAT Caterpillar Inc. | 0.27% | 724,580 | $415.1M | Add +27.4% |
| PFE Pfizer Inc. | 0.26% | 16,528,662 | $411.6M | Add +71.1% |
| WFC Wells Fargo & Co. | 0.26% | 4,388,073 | $409.0M | Add +13.9% |
| PG The Procter & Gamble Co. | 0.26% | 2,812,323 | $403.0M | Add +117.3% |
| XLV SS Health Care Select Sector | 0.25% | 2,502,563 | $387.4M | Add +33.4% |
| VZ Verizon Communications Inc. | 0.24% | 9,333,187 | $380.1M | Reduce -9.2% |
| JNJ Johnson & Johnson | 0.24% | 1,798,135 | $372.1M | Reduce -30.1% |
| NXPI NXP Semiconductors NV | 0.24% | 1,713,767 | $372.0M | Add +193.9% |
| BMY Bristol-Myers Squibb Co. | 0.24% | 6,893,232 | $371.8M | Add +52.2% |
| ABT Abbott Laboratories | 0.24% | 2,959,178 | $370.8M | Add +14.1% |
| ACWI iShares MSCI Acwi ETF | 0.24% | 2,620,110 | $370.7M | Add +269.9% |
| AMGN Amgen Inc. | 0.24% | 1,119,920 | $366.6M | Add +51.0% |
| C Citigroup Inc. | 0.23% | 3,130,149 | $365.3M | Reduce -17.4% |
| IBB iShares Biotechnology ETF | 0.23% | 2,133,461 | $360.1M | Add +11.4% |
| GILD Gilead Sciences Inc. | 0.23% | 2,932,484 | $359.9M | Add +62.0% |
| NOW ServiceNow Inc. | 0.23% | 2,317,835 | $355.1M | Add +82.6% |
| ISRG Intuitive Surgical Inc. | 0.23% | 626,906 | $355.1M | Add +4.5% |
| SOXX iShares Semiconductor ETF | 0.23% | 1,169,180 | $352.1M | Add +3.7% |
| EMB iShares JP Morgan Usd Emergi | 0.22% | 3,556,458 | $342.4M | Add +15.9% |
| TMO Thermo Fisher Scientific Inc. | 0.22% | 587,483 | $340.4M | Add +47.7% |
| REGN Regeneron Pharmaceuticals | 0.22% | 440,844 | $340.3M | Reduce -7.7% |
| FLUT Flutter Entertainment PLC-Di | 0.21% | 1,542,762 | $331.8M | Reduce -35.4% |
| SMH Vaneck Semiconductor ETF | 0.21% | 919,713 | $331.2M | Reduce -36.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.21% | 1,088,855 | $330.9M | Add +31.0% |
| PANW Palo Alto Networks Inc. | 0.21% | 1,792,269 | $330.1M | Add +68.4% |
| CAH Cardinal Health Inc. | 0.21% | 1,588,335 | $326.4M | Reduce -18.8% |
| SPGI S&P Global Inc. | 0.21% | 620,458 | $324.2M | Add +20.5% |
| T AT&T Inc. | 0.21% | 12,946,991 | $321.6M | Add +43.3% |
| SYK Stryker Corp. | 0.21% | 913,154 | $320.9M | Add +25.9% |
| BSX Boston Scientific Corp. | 0.20% | 3,294,638 | $314.1M | Add +21.4% |
| DASH DoorDash Inc. Class A | 0.20% | 1,368,769 | $310.0M | Add +61.6% |
| CCL Carnival Corp. | 0.20% | 9,959,988 | $304.2M | Add +1.8% |
| XLI SS Industrial Select Sector | 0.19% | 1,904,414 | $295.4M | Reduce -43.7% |
| NEE Nextera Energy Inc. | 0.19% | 3,594,434 | $288.6M | Add +34.6% |
| KO The Coca-Cola Co. | 0.18% | 4,120,342 | $288.1M | Add +70.0% |
| WBD Warner Bros Discovery Inc. | 0.18% | 9,986,331 | $287.8M | Add +28.8% |
Options reported separately and not counted above: QQQ puts ($4.6B), QQQ calls ($3.3B), NVDA puts ($3.1B), TSLA puts ($2.5B), SPY puts ($2.3B), AMZN puts ($1.7B), AMD puts ($1.6B), IWM puts ($1.5B), MSFT puts ($1.5B), META puts ($1.4B), AAPL puts ($1.3B), IWM calls ($1.2B), and 814 more.
Other holdings (326): bonds, preferreds, convertibles and warrants · $2.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 25,833,000 | $118.4M | Reduce -6.9% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 26,688,000 | $110.0M | Add +25.2% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 22,995,000 | $85.3M | Add +317.7% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 29,232,000 | $75.4M | Add +198.3% |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 40,930,000 | $65.3M | Add +48.8% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 17,260,000 | $58.0M | Add +631.7% |
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | 19,958,000 | $53.8M | New |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 45,600,000 | $53.1M | No change |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 41,382,000 | $50.9M | Add +1.0% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 33,500,000 | $47.5M | Reduce -12.5% |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 9,747,000 | $41.5M | Reduce -56.8% |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 15,690,000 | $39.8M | New |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 39,324,000 | $37.2M | Add +27.4% |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | 30,837,000 | $37.0M | Add +64.6% |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 7,802,000 | $36.3M | Reduce -33.2% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 21,109,000 | $34.6M | Add +84.6% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 30,045,000 | $30.3M | Add +0.6% |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | 14,953,000 | $29.8M | New |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 30,000,000 | $28.9M | No change |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 25,658,000 | $27.6M | Add +191.2% |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 30,647,000 | $27.2M | Add +104.7% |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 26,930,000 | $27.1M | Reduce -15.7% |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 7,392,000 | $25.8M | New |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 22,106,000 | $25.5M | Add +89.5% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 17,318,000 | $25.5M | Reduce -30.9% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 20,215,000 | $24.6M | Add +1373.4% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 25,178,000 | $24.2M | Add +9.7% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 11,594,000 | $23.6M | New |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 15,841,000 | $23.5M | Reduce -27.6% |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 16,444,000 | $22.4M | Add +86.2% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 17,380,000 | $22.2M | Add +603.9% |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 20,004,000 | $22.0M | New |
| SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) | NOTE 3.500%12/0 · principal | 8,000,000 | $21.9M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 18,193,000 | $21.4M | Add +264.9% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 23,549,000 | $20.5M | Add +72.5% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 21,584,000 | $20.4M | New |
| PAGAYA TECHNOLOGIES LTD (PGY 6.125 10/01/29) | NOTE 6.125%10/0 · principal | 11,088,000 | $20.2M | New |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 13,183,000 | $19.7M | Reduce -30.4% |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 17,634,000 | $19.4M | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 11,620,000 | $19.3M | Reduce -88.1% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 16,600,000 | $18.6M | Reduce -59.2% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 17,964,000 | $18.2M | Add +221.7% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 14,474,000 | $17.2M | Reduce -24.2% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 17,306,000 | $15.9M | Reduce -35.6% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 17,571,000 | $15.8M | Add +80.8% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 14,921,000 | $15.7M | Add +195.5% |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 15,182,000 | $15.4M | Add +5.1% |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 9,107,000 | $15.1M | No change |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 14,491,000 | $14.1M | Add +205.8% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 7,314,000 | $13.8M | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 8,483,000 | $13.2M | Reduce -24.7% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 12,000,000 | $13.1M | Reduce -16.9% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 11,791,000 | $12.7M | Add +31767.6% |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | 12,615,000 | $12.7M | No change |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 15,350,000 | $12.6M | New |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 8,221,000 | $12.2M | Reduce -62.3% |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | 10,450,000 | $12.1M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 11,837,000 | $11.9M | Add +10.5% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 11,617,000 | $11.7M | Reduce -1.7% |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 6,941,000 | $11.7M | Add +133.3% |
| UPSTART HOLDINGS INC (UPST 2 10/01/29) | NOTE 2.000%10/0 · principal | 9,278,000 | $11.7M | New |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 11,692,000 | $11.3M | New |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 4,733,000 | $11.1M | New |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 6,548,000 | $11.1M | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 11,307,000 | $10.1M | Reduce -46.3% |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 12,373,000 | $10.0M | Reduce -10.8% |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 10,078,000 | $9.6M | Add +25.2% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 9,590,000 | $9.6M | Reduce -11.3% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 7,500,000 | $9.3M | Reduce -1.7% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 8,638,000 | $8.6M | Reduce -43.8% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 7,493,000 | $7.7M | Add +583.7% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,267,000 | $7.7M | Add +11.0% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 7,660,000 | $7.6M | Reduce -26.6% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 7,575,000 | $7.4M | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 5,474,000 | $7.1M | Reduce -41.3% |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 6,400,000 | $7.1M | Add +391.9% |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 6,006,000 | $7.0M | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 6,135,000 | $7.0M | Reduce -54.7% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 5,036,000 | $6.3M | Add +36.1% |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 3,072,000 | $6.2M | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 1,152,000 | $6.1M | Reduce -75.7% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 5,298,000 | $6.0M | Add +144.9% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 2,736,000 | $5.7M | Add +270.7% |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 5,000,000 | $5.2M | Reduce -63.0% |
| GROUPON INC (GRPN 4.875 06/30/30 UNRS) | NOTE 4.875% 6/3 · principal | 5,650,000 | $5.0M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 4,781,000 | $5.0M | Reduce -89.1% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 4,993,000 | $4.9M | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 4,992,000 | $4.9M | Add +1980.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 4,938,000 | $4.9M | Reduce -66.1% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 4,320,000 | $4.8M | Reduce -73.2% |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 3,141,000 | $4.4M | Reduce -86.1% |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 4,104,000 | $4.1M | New |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 3,638,000 | $3.9M | New |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 3,940,000 | $3.9M | Add +8.1% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 3,700,000 | $3.8M | No change |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 3,878,000 | $3.8M | Reduce -1.7% |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 3,600,000 | $3.6M | New |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 3,167,000 | $3.4M | New |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 3,154,000 | $3.2M | Add +91.7% |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 2,743,000 | $3.0M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 2,712,000 | $2.8M | Reduce -90.2% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 2,567,000 | $2.8M | Add +0.7% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 2,670,000 | $2.7M | Reduce -39.3% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 1,889,000 | $2.6M | Add +549.1% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 1,834,000 | $2.6M | Add +203.1% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 2,494,000 | $2.6M | New |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 1,780,000 | $2.5M | Add +78.5% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 2,625,000 | $2.5M | Reduce -15.4% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 2,556,000 | $2.4M | No change |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 2,200,000 | $2.3M | Reduce -25.0% |
| JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) | NOTE 2.500% 9/0 · principal | 2,325,000 | $2.2M | New |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 2,009,000 | $2.2M | Reduce -19.7% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 1,318,000 | $2.0M | Reduce -89.7% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 1,531,000 | $1.9M | Add +14.3% |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 1,540,000 | $1.9M | Add +40.4% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 1,646,000 | $1.8M | Reduce -78.1% |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 1,900,000 | $1.8M | No change |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 1,340,000 | $1.5M | No change |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 1,517,000 | $1.5M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,500,000 | $1.4M | No change |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 1,145,000 | $1.3M | Add +21.2% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 1,474,000 | $1.3M | Reduce -96.2% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 1,232,000 | $1.2M | Add +1170.1% |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 1,187,000 | $1.0M | New |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 983,000 | $942K | Reduce -94.2% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 878,000 | $862K | No change |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 841,000 | $859K | Add +5.5% |
| MICROCHIP TECHNOLOGY INC (MCHP 1.625 02/15/27) | NOTE 1.625% 2/1 · principal | 427,000 | $768K | No change |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | 679,000 | $766K | New |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 577,000 | $752K | Reduce -84.2% |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | 631,000 | $733K | New |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 788,000 | $724K | New |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 637,000 | $669K | New |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 530,000 | $608K | Reduce -94.3% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 564,000 | $558K | Add +69.4% |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 558,000 | $554K | New |
| CLEANSPARK INC (CLSK 0 06/15/30) | NOTE 6/1 · principal | 531,000 | $549K | New |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 300,000 | $549K | New |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 550,000 | $543K | Reduce -37.4% |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 560,000 | $541K | Reduce -30.9% |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 299,861 | $537K | No change |
| WLACW Willow Lane Acquisition - 29 | *W EXP 10/31/203 | 113,542 | $509K | New |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 405,000 | $501K | Add +0.5% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 495,000 | $494K | Add +4.7% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 409,000 | $436K | Reduce -19.3% |
| CHACR Crane Harbor Acquisition-RTS | RIGHT 04/17/2030 | 516,010 | $413K | New |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 543,963 | $400K | New |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 392,000 | $385K | Add +71.2% |
| CNX RESOURCES CORP (CNX 2.25 05/01/26) | NOTE 2.250% 5/0 · principal | 134,000 | $383K | Reduce -93.5% |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | 300,000 | $350K | No change |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 393,588 | $344K | New |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 756,618 | $242K | New |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | 30,717 | $237K | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 193,000 | $225K | Reduce -84.7% |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 219,000 | $210K | Add +895.5% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 190,000 | $195K | Reduce -5.0% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 187,000 | $189K | Reduce -96.7% |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 207,153 | $186K | No change |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 450,534 | $185K | New |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 89,637 | $184K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 302,657 | $166K | New |
| XRPNW Armada Acquisition Corp - A | *W EXP 05/21/203 | 183,174 | $163K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 200,151 | $158K | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 148,000 | $154K | No change |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 338,011 | $153K | No change |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 483,231 | $150K | New |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 462,795 | $148K | New |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 346,362 | $138K | New |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 286,978 | $138K | New |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | 139,657 | $138K | New |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 136,000 | $129K | Reduce -1.4% |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 358,009 | $128K | New |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | 444,056 | $124K | New |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 384,082 | $123K | No change |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 199,710 | $122K | No change |
| GSRFR GSR IV Acquisition Corp.-RTS | RIGHT 08/22/2030 | 52,278 | $121K | New |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 329,775 | $119K | New |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 446,094 | $107K | New |
| KCHVR Kochav Defense Acquisition-R | RIGHT 05/21/2030 | 440,620 | $106K | New |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 318,798 | $103K | New |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 224,317 | $101K | New |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 | 195,538 | $99K | No change |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | 122,083 | $98K | New |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 360,208 | $97K | New |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 336,649 | $97K | No change |
| RAAQW REAL ASSET AQC Corp -30 | *W EXP 04/24/203 | 194,799 | $93K | No change |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 173,447 | $92K | No change |
| BIXIW Bitcoin Infrastructure Acqui | *W EXP 11/06/203 | 319,949 | $90K | New |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 161,927 | $89K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 412,987 | $89K | New |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 268,041 | $84K | No change |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 86,000 | $84K | New |
| RAC.WS Rithm Acquisition Corp. - 30 | *W EXP 99/99/999 | 137,354 | $82K | New |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 92,913 | $79K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 312,978 | $78K | No change |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 183,495 | $77K | New |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 320,315 | $77K | New |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | 121,983 | $76K | New |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 130,685 | $76K | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 78,000 | $75K | No change |
Largest 200 of 326 shown.
Total filed on the 13F, all lines: $158.0B.
Portfolio Sells Q3 2025 → Q4 2025
| IVV iShares Core S&P 500 ETF | Reduce -74.1% | 0.36% | −1.33 |
| FLUT Flutter Entertainment PLC-Di | Reduce -35.4% | 0.21% | −0.27 |
| XLK SS Technology Select Sector | Reduce -89.6% | 0.02% | −0.24 |
| XLI SS Industrial Select Sector | Reduce -43.7% | 0.19% | −0.22 |
| MRK Merck & Co. Inc. | Reduce -57.9% | 0.16% | −0.22 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -40.9% | 0.18% | −0.20 |
| SMH Vaneck Semiconductor ETF | Reduce -36.2% | 0.21% | −0.16 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -14.6% | 0.38% | −0.16 |
| SE Sea Ltd.-ADR | Reduce -13.6% | 0.15% | −0.15 |
| CVX Chevron Corp. | Reduce -18.4% | 0.28% | −0.15 |
| BP BP PLC-Spons ADR | Reduce -59.5% | 0.07% | −0.15 |
| NBIS Nebius Group NV | Reduce -93.5% | 0.01% | −0.14 |
| JNJ Johnson & Johnson | Reduce -30.1% | 0.24% | −0.14 |
| ADBE Adobe Inc. | Reduce -13.2% | 0.32% | −0.14 |
| IP International Paper Co. | Reduce -56.1% | 0.06% | −0.13 |
| QCOM Qualcomm Inc. | Reduce -12.4% | 0.34% | −0.13 |
| ACN Accenture PLC Class A | Reduce -36.2% | 0.15% | −0.12 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -40.4% | 0.10% | −0.12 |
| ITA iShares U.S. Aerospace & Def | Reduce -71.2% | 0.04% | −0.12 |
| VZ Verizon Communications Inc. | Reduce -9.2% | 0.24% | −0.11 |
| BABA Alibaba Group Holding-SP ADR | Reduce -25.4% | 0.11% | −0.11 |
| CI The Cigna Group | Reduce -46.7% | 0.08% | −0.11 |
| XOM Exxon Mobil Corp. | Reduce -7.3% | 0.42% | −0.11 |
| MP MP Materials Corp. | Reduce -78.1% | 0.02% | −0.10 |
| XLRE SS Real Estate Select Sector | Reduce -98.1% | 0.00% | −0.10 |
| VNQ Vanguard Real Estate ETF | Reduce -93.7% | 0.01% | −0.10 |
| RSP Invesco S&P 500 Equal Weight | Reduce -9.8% | 0.28% | −0.10 |
| ITB iShares U.S. Home Constructi | Reduce -49.4% | 0.06% | −0.10 |
| LULU Lululemon Athletica Inc. | Reduce -61.0% | 0.05% | −0.09 |
| ALAB Astera Labs Inc. | Reduce -29.3% | 0.09% | −0.09 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -61.3% | 0.04% | −0.09 |
| MS Morgan Stanley | Reduce -11.3% | 0.33% | −0.08 |
| BAC Bank of America Corp. | Reduce -6.5% | 0.34% | −0.08 |
| KWEB Kranesh Csi China Internet | Reduce -42.5% | 0.05% | −0.08 |
| AMT American Tower Corp. | Reduce -21.4% | 0.11% | −0.08 |
| TEM Tempus AI Inc. Class A | Reduce -86.4% | 0.01% | −0.07 |
| LOW Lowe's Cos Inc. | Reduce -34.1% | 0.08% | −0.07 |
| RSG Republic Services Inc. | Reduce -26.1% | 0.09% | −0.07 |
| SHW The Sherwin-Williams Co. | Reduce -30.9% | 0.08% | −0.07 |
| APLD Applied Digital Corp. | Reduce -82.7% | 0.01% | −0.07 |
| EEM iShares MSCI Emerging Market | Reduce -43.7% | 0.06% | −0.07 |
| NEM Newmont Corp. | Reduce -41.4% | 0.09% | −0.07 |
| C Citigroup Inc. | Reduce -17.4% | 0.23% | −0.07 |
| XLB SS Materials Select Sector | Reduce -51.2% | 0.05% | −0.07 |
| NCLH Norwegian Cruise Line Holdin | Reduce -75.8% | 0.02% | −0.07 |
| NE Noble Corp. PLC | Reduce -98.4% | 0.00% | −0.07 |
| XRT SS SPDR S&P Retail ETF | Reduce -99.9% | 0.00% | −0.07 |
| AME Ametek Inc. | Reduce -42.5% | 0.07% | −0.07 |
| AS Amer Sports Inc. | Reduce -52.5% | 0.05% | −0.06 |
| CRM Salesforce Inc. | Reduce -6.7% | 0.33% | −0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Add +77.6% | 4.03% | +1.02 |
| AAPL Apple Inc. | Add +63.0% | 3.32% | +0.96 |
| XBI SS SPDR S&P Biotech ETF | Add +178.1% | 1.30% | +0.82 |
| AMZN Amazon.com Inc. | Add +55.7% | 2.72% | +0.67 |
| NVDA Nvidia Corp. | Add +43.3% | 4.13% | +0.56 |
| XLP SS Consumer Staples Sel Sect | Add +1180.7% | 0.50% | +0.45 |
| GOOG Alphabet Inc. Class C | Add +40.3% | 1.18% | +0.37 |
| MU Micron Technology Inc. | Add +16.7% | 0.91% | +0.34 |
| PM Philip Morris International | Add +943.0% | 0.33% | +0.29 |
| COST Costco Wholesale Corp. | Add +108.0% | 0.61% | +0.22 |
| GEV GE Vernova Inc. | Add +98.8% | 0.50% | +0.21 |
| LLY Eli Lilly & Co. | Add +49.0% | 0.49% | +0.20 |
| GOOGL Alphabet Inc. Class A | Add +6.3% | 1.67% | +0.16 |
| ACWI iShares MSCI Acwi ETF | Add +269.9% | 0.24% | +0.16 |
| HON Honeywell International Inc. | Add +165.1% | 0.31% | +0.15 |
| AMD Advanced Micro Devices | Add +12.5% | 0.85% | +0.14 |
| KLAC KLA Corp. | Add +84.6% | 0.34% | +0.14 |
| ORCL Oracle Corp. | Add +144.2% | 0.50% | +0.13 |
| NXPI NXP Semiconductors NV | Add +193.9% | 0.24% | +0.13 |
| GLD SPDR Gold Shares | Add +72.0% | 0.36% | +0.13 |
| CSCO Cisco Systems Inc. | Add +26.9% | 0.92% | +0.12 |
| IGV iShares Expanded Tech-Softwa | Add +104.7% | 0.35% | +0.12 |
| VEA Vanguard Ftse Developed ETF | Add +1062.8% | 0.13% | +0.12 |
| JPM JPMorgan Chase & Co. | Add +29.9% | 1.64% | +0.11 |
| ABNB Airbnb Inc. Class A | Add +74.8% | 0.30% | +0.11 |
| IREN Iren Ltd. | New | 0.10% | +0.10 |
| LRCX Lam Research Corp. | Add +30.8% | 0.39% | +0.10 |
| SPMO Invesco S&P 500 Momentum ETF | Add +1586.1% | 0.11% | +0.10 |
| PG The Procter & Gamble Co. | Add +117.3% | 0.26% | +0.10 |
| CVS CVS Health Corp. | Add +196.6% | 0.17% | +0.10 |
| SNDK Sandisk Corp. | Add +104.7% | 0.13% | +0.09 |
| TJX TJX Companies Inc. | Add +75.9% | 0.27% | +0.09 |
| ASML ASML Holding NV-NY Reg SHS | Add +125.3% | 0.18% | +0.09 |
| VRTX Vertex Pharmaceuticals Inc. | Add +120.0% | 0.16% | +0.08 |
| CP Canadian Pacific Kansas City | Add +205.9% | 0.13% | +0.08 |
| WMT Walmart Inc. | Add +53.1% | 0.31% | +0.08 |
| BMY Bristol-Myers Squibb Co. | Add +52.2% | 0.24% | +0.08 |
| HD Home Depot Inc. | Add +87.2% | 0.34% | +0.08 |
| GILD Gilead Sciences Inc. | Add +62.0% | 0.23% | +0.07 |
| AMGN Amgen Inc. | Add +51.0% | 0.24% | +0.07 |
| PFE Pfizer Inc. | Add +71.1% | 0.26% | +0.07 |
| FSLR First Solar Inc. | Add +143.9% | 0.12% | +0.07 |
| DIA SS SPDR Dow Jones Indus Avg | Add +155.5% | 0.13% | +0.07 |
| CSX CSX Corp. | Add +206.6% | 0.11% | +0.07 |
| TMO Thermo Fisher Scientific Inc. | Add +47.7% | 0.22% | +0.07 |
| WBD Warner Bros Discovery Inc. | Add +28.8% | 0.18% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +27.8% | 1.17% | +0.06 |
| VYM Vanguard High DVD Yield ETF | Add +17493.6% | 0.06% | +0.06 |
| MDT Medtronic PLC | Add +84.4% | 0.18% | +0.06 |
| IBM Intl Business Machines Corp. | Add +41.0% | 0.37% | +0.06 |
Options Activity Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | put | Add +149.3% | 74,476 | $4.6B |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -5.7% | 53,225 | $3.3B |
| NVDA Nvidia Corp. | put | Reduce -6.8% | 166,050 | $3.1B |
| TSLA Tesla Inc. | put | Reduce -21.6% | 54,944 | $2.5B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +2.2% | 33,494 | $2.3B |
| AMZN Amazon.com Inc. | put | Add +11.3% | 75,680 | $1.7B |
| AMD Advanced Micro Devices | put | Add +7.1% | 73,832 | $1.6B |
| IWM iShares Russell 2000 ETF | put | Reduce -44.2% | 60,510 | $1.5B |
| MSFT Microsoft Corp. | put | Add +18.1% | 30,103 | $1.5B |
| META Meta Platforms Inc. Class A | put | Add +92.7% | 20,931 | $1.4B |
| AAPL Apple Inc. | put | Add +22.2% | 48,854 | $1.3B |
| IWM iShares Russell 2000 ETF | call | Reduce -65.6% | 50,436 | $1.2B |
| AVGO Broadcom Inc. | put | Add +7.3% | 25,259 | $874.2M |
| GOOGL Alphabet Inc. Class A | put | Reduce -32.5% | 26,563 | $831.4M |
| SOXX iShares Semiconductor ETF | put | Add +6741.3% | 27,160 | $817.9M |
| JPM JPMorgan Chase & Co. | put | Add +27.1% | 24,835 | $800.2M |
| GOOG Alphabet Inc. Class C | put | Add +23.5% | 24,904 | $781.5M |
| UNH Unitedhealth Group Inc. | put | Add +50.2% | 22,374 | $738.6M |
| MU Micron Technology Inc. | put | Add +21.1% | 25,746 | $734.8M |
| BAC Bank of America Corp. | put | Add +20.0% | 130,007 | $715.0M |
| C Citigroup Inc. | put | Reduce -1.2% | 56,176 | $655.5M |
| SMH Vaneck Semiconductor ETF | put | Add +56.3% | 15,594 | $561.6M |
| TSLA Tesla Inc. | call | Add +26.0% | 12,280 | $552.3M |
| ORCL Oracle Corp. | put | Add +242.9% | 27,385 | $533.8M |
| NVDA Nvidia Corp. | call | Add +25.0% | 27,933 | $521.0M |
| LLY Eli Lilly & Co. | put | Add +75.7% | 4,053 | $435.6M |
| AMZN Amazon.com Inc. | call | Add +45.2% | 18,390 | $424.5M |
| AMAT Applied Materials Inc. | put | Add +10.3% | 15,868 | $407.8M |
| AAPL Apple Inc. | call | Add +31.0% | 14,048 | $381.9M |
| PLTR Palantir Technologies Inc. Class A | put | Add +127.0% | 20,480 | $364.0M |
| GOOGL Alphabet Inc. Class A | call | Reduce -44.4% | 11,614 | $363.5M |
| AVGO Broadcom Inc. | call | Add +12.5% | 10,223 | $353.8M |
| AMD Advanced Micro Devices | call | Add +0.9% | 16,323 | $349.6M |
| MSFT Microsoft Corp. | call | Add +19.7% | 7,128 | $344.7M |
| WDC Western Digital Corp. | put | Add +6.8% | 19,300 | $332.5M |
| GOOG Alphabet Inc. Class C | call | Reduce -16.8% | 10,082 | $316.4M |
| MS Morgan Stanley | put | Add +15.4% | 17,761 | $315.3M |
| XOM Exxon Mobil Corp. | put | Add +39.9% | 25,664 | $308.8M |
| JPM JPMorgan Chase & Co. | call | Add +43.7% | 8,412 | $271.1M |
| LLY Eli Lilly & Co. | call | Add +62.1% | 2,443 | $262.5M |
| EEM iShares MSCI Emerging Market | call | Reduce -66.3% | 46,837 | $256.2M |
| PFE Pfizer Inc. | put | Add +105.6% | 101,924 | $253.8M |
| BABA Alibaba Group Holding-SP ADR | call | Add +111.8% | 17,102 | $250.7M |
| BRK.B Berkshire Hathaway Inc. Class B | put | Add +83.0% | 4,985 | $250.6M |
| WFC Wells Fargo & Co. | put | Add +20.3% | 26,669 | $248.6M |
| GLD SPDR Gold Shares | put | Add +2.9% | 6,174 | $244.7M |
| LRCX Lam Research Corp. | put | Reduce -5.7% | 14,203 | $243.1M |
| GLD SPDR Gold Shares | call | Add +53.5% | 6,041 | $239.4M |
| GS Goldman Sachs Group Inc. | put | Add +56.3% | 2,721 | $239.2M |
| SMH Vaneck Semiconductor ETF | call | Reduce -48.1% | 6,327 | $227.9M |
Showing the first 50 of 778.
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
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -6.9% | 25,833,000 | $118.4M |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | Add +25.2% | 26,688,000 | $110.0M |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Add +317.7% | 22,995,000 | $85.3M |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | Add +198.3% | 29,232,000 | $75.4M |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | Add +48.8% | 40,930,000 | $65.3M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Add +631.7% | 17,260,000 | $58.0M |
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | New | 19,958,000 | $53.8M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Add +1.0% | 41,382,000 | $50.9M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Reduce -12.5% | 33,500,000 | $47.5M |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | Reduce -56.8% | 9,747,000 | $41.5M |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | New | 15,690,000 | $39.8M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +27.4% | 39,324,000 | $37.2M |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | Add +64.6% | 30,837,000 | $37.0M |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Reduce -33.2% | 7,802,000 | $36.3M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +84.6% | 21,109,000 | $34.6M |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | Sold out | 9,827,000 | $30.8Mbefore exit |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +0.6% | 30,045,000 | $30.3M |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | New | 14,953,000 | $29.8M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Sold out | 12,000,000 | $29.5Mbefore exit |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Sold out | 30,000,000 | $29.3Mbefore exit |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | Add +191.2% | 25,658,000 | $27.6M |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | Add +104.7% | 30,647,000 | $27.2M |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | Reduce -15.7% | 26,930,000 | $27.1M |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | New | 7,392,000 | $25.8M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Sold out | 27,096,000 | $25.6Mbefore exit |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | Add +89.5% | 22,106,000 | $25.5M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Reduce -30.9% | 17,318,000 | $25.5M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Add +1373.4% | 20,215,000 | $24.6M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Add +9.7% | 25,178,000 | $24.2M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | New | 11,594,000 | $23.6M |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | Reduce -27.6% | 15,841,000 | $23.5M |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | Add +86.2% | 16,444,000 | $22.4M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Add +603.9% | 17,380,000 | $22.2M |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | New | 20,004,000 | $22.0M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Add +264.9% | 18,193,000 | $21.4M |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | Add +72.5% | 23,549,000 | $20.5M |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | New | 21,584,000 | $20.4M |
| PAGAYA TECHNOLOGIES LTD (PGY 6.125 10/01/29) | NOTE 6.125%10/0 · principal | New | 11,088,000 | $20.2M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Reduce -30.4% | 13,183,000 | $19.7M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Reduce -88.1% | 11,620,000 | $19.3M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -59.2% | 16,600,000 | $18.6M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Add +221.7% | 17,964,000 | $18.2M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -24.2% | 14,474,000 | $17.2M |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | Sold out | 18,321,000 | $17.1Mbefore exit |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Reduce -35.6% | 17,306,000 | $15.9M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Add +80.8% | 17,571,000 | $15.8M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Add +195.5% | 14,921,000 | $15.7M |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | Add +5.1% | 15,182,000 | $15.4M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Sold out | 7,303,000 | $14.5Mbefore exit |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | Add +205.8% | 14,491,000 | $14.1M |
Showing the first 50 of 290.
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 |