Boussard & Gavaudan Investment Management LLP

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Boussard & Gavaudan Investment Management LLP reported 57 stock positions worth $316.9 million. Its top holding was Hess (HES) at 11.2% of the portfolio, followed by United States Steel (X, 8.8%) and Ansys (ANSS, 8.1%). Compared with Q1 2024, it opened 25 new positions, sold out of 30, added to 16 and reduced 9. The biggest buy was Catalent (CTLT, shares +3760%) and the biggest sale an exit from Pioneer Natural Resources (PXD).

Most Recent 13F
Q1 2026
Location
London, X0
CIK
0001614986
Portfolio Value
$316.9M (Q2 2024)
SEC Filing
0001614986-24-000006 ↗ filed Aug 13, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $549.7M Q1 2024 Q2 2024: $316.9M $316.9M Q2 2024 Q3 2024: $621.1M Q3 2024 Q4 2024: $755.7M Q4 2024 Q1 2025: $314.7M Q1 2025 Q2 2025: $381.3M Q2 2025 Q3 2025: $456.4M Q3 2025 Q4 2025: $660.5M Q4 2025 Q1 2026: $420.1M Q1 2026

Holdings 57 stocks · $316.9M
HES Hess Corp. 11.17% 238,456 $35.4M No change
X United States Steel Corp. 8.81% 735,325 $27.9M Add +4.7%
ANSS Ansys Inc. 8.11% 79,873 $25.7M Add +187.9%
CTLT Catalent Inc. 6.80% 382,836 $21.5M Add +3760.0%
LSXMK Liberty Media Corp.-Liber-New 6.41% 921,074 $20.3M Reduce -45.8%
CNX RESOURCES CORP (CNX 2.25 05/01/26) 6.07% 9,920 $19.2M Add +148.0%
DFS Discover Financial Services 5.57% 136,504 $17.6M Add +194.8%
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) 5.56% 12,000 $17.6M New
LSXMA Liberty Media Corp. Class A New 5.47% 784,552 $17.3M Reduce -2.5%
DYNAVAX TECHNOLOGIES (DVAX 2.5 05/15/26) 4.13% 10,500 $13.1M No change
ALTAIR ENGINEERING INC (ALTR 1.75 06/15/27) 3.72% 8,076 $11.8M Add +251.1%
RCM R1 RCM Inc. 3.32% 840,811 $10.5M New
LBRDK Liberty Broadband-C 3.24% 187,603 $10.3M No change
COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) 2.51% 7,120 $8.0M Add +18.7%
CYTOKINETICS INC (CYTK 3.5 07/01/27) 2.47% 5,991 $7.8M Reduce -5.7%
ANSC Agriculture & Natural Soluti 2.26% 700,000 $7.2M No change
CELH Celsius Holdings Inc. 2.19% 120,315 $6.9M Add +141.6%
ENVISTA HOLDINGS CORP (NVST 2.375 06/01/25) 1.79% 5,511 $5.7M Add +17.8%
INFINERA CORP (INFN 3.75 08/01/28) 1.75% 5,000 $5.5M New
SQSP Squarespace Inc. Class A 1.43% 103,888 $4.5M New
SBOW Silverbow Resources Inc. 1.42% 119,740 $4.5M New
CAVA Cava Group Inc. 1.06% 35,846 $3.3M Add +12.3%
CENTURY ALUMINUM COMPANY (CENX 2.75 05/01/28) 1.04% 3,000 $3.3M New
ARES ACQUISITION CORP II 1.01% 300,000 $3.2M No change
BGC BGC Group Inc. Class A 0.72% 282,180 $2.3M Reduce -62.3%
WISDOMTREE INC (WT 5.75 08/15/28) 0.59% 1,500 $1.9M New
JWSMF Jaws Mustang Acquisition C-A 0.53% 150,000 $1.7M No change
SEMTECH CORP (SMTC 1.625 11/01/27) 0.45% 1,352 $1.4M New
OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC 0.17% 43,637 $555K Reduce -93.6%
LION Lionsgate Studios Corp. 0.05% 20,000 $161K New
ATSG Air Transport Services Group 0.05% 10,963 $152K Reduce -42.7%
VRE Veris Residential Inc. 0.03% 6,853 $102K Reduce -97.7%
ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) 0.01% 11,194 $37K New
AXON ENTERPRISE INC (AXON 0.5 12/15/27) 0.01% 22,151 $31K Add +56.5%
INSMED INC (INSM 0.75 06/01/28) 0.01% 13,309 $28K New
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) 0.01% 15,000 $21K Add +30.4%
ZSCALER INC. (ZS 0.125 07/01/25) 0.01% 13,000 $17K Add +7.6%
ETSY INC (ETSY 0.125 10/01/26) 0.01% 15,947 $16K New
FRESHPET INC (FRPT 3 04/01/28) 0.00% 7,500 $15K No change
INTERDIGITAL INC (IDCC 3.5 06/01/27) 0.00% 8,411 $13K New
ITRON INC (ITRI 0 03/15/26) 0.00% 12,000 $12K New
CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) 0.00% 10,473 $12K New
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) 0.00% 12,000 $12K New
M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) 0.00% 6,512 $9K New
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) 0.00% 8,806 $9K Reduce -5.1%
DATADOG INC (DDOG 0.125 06/15/25) 0.00% 5,746 $8K Add +803.5%
GREEN PLAINS INC (GPRE 2.25 03/15/27) 0.00% 9,000 $8K New
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) 0.00% 7,553 $8K Add +36.2%
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) 0.00% 7,000 $8K New
STRIDE INC (LRN 1.125 09/01/27) 0.00% 5,071 $7K Reduce -49.3%
DROPBOX INC (DBX 0 03/01/28) 0.00% 7,600 $7K New
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) 0.00% 7,000 $7K New
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) 0.00% 6,000 $6K New
CMS ENERGY CORP (CMS 3.375 05/01/28) 0.00% 4,500 $4K New
JBT MAREL CORP (JBTM 0.25 05/15/26) filed as JOHN BEAN TECHNOLOGIES CORP 0.00% 4,741 $4K New
BENTLEY SYSTEMS (BSY 0.375 07/01/27) 0.00% 4,760 $4K Add +90.4%
DEXCOM INC (DXCM 0.25 11/15/25) 0.00% 3,360 $3K New

Options reported separately and not counted above: UNITED STATES STL CORP NEW puts ($2.0M), VOLATILITY SHS TR puts ($841K), STATE STR SPDR S&P 500 ETF T puts ($774K), ETSY INC puts ($347K), NVIDIA CORPORATION puts ($92K), NVIDIA CORPORATION calls ($6K).

Other holdings (13): bonds, preferreds, convertibles and warrants · $393K (not counted above)
SecurityClassShares / PrincipalValueChange
ALVOW Alvotech SA -27 *W EXP 99/99/999 30,000$98KNo change
ZURA BIO LTD *W EXP 99/99/999 187,500$86KNo change
ANSCW Agriculture & Natural Solu-W *W EXP 10/01/202 350,000$58KNo change
JOBY.WS Joby Aviation Inc. -CW25 *W EXP 08/10/202 75,000$43KNo change
LOTWW Lotus Technology Inc.-28 *W EXP 02/22/202 91,666$39KNo change
KDKRW Ares Acquisition Corp. II-28 *W EXP 99/99/999 150,000$20KNo change
FLDDW Fold Holdings Inc. -23 *W EXP 02/14/203 275,000$11KNo change
JWSWF Jaws Mustang Acq C -CW26 *W EXP 01/30/202 100,000$10KNo change
EVTWF Vertical Aerospace Ltd. -CW26 *W EXP 12/16/202 240,000$8KNo change
BKSYW Blacksky Technology -CW24 *W EXP 09/09/202 265,081$8KNo change
BLEUACACIA LTD RIGHT 10/30/2026 225,000$8KNo change
VWEWQ Vintage Wine Estates -CW27 *W EXP 06/08/202 415,253$3KNo change
BLEUACACIA LTD *W EXP 10/30/202 112,500$2KNo change

Total filed on the 13F, all lines: $317.3M.

Portfolio Sells Q1 2024 → Q2 2024
PXD Pioneer Natural Resources Co. Sold out 0.00% −14.02
ALTAIR ENGINEERING INC (ALTR 0.25 06/01/24) Sold out 0.00% −5.32
WRK Westrock Co. Sold out 0.00% −3.63
CPRI Capri Holdings Ltd. Sold out 0.00% −3.10
LSXMK Liberty Media Corp.-Liber-New Reduce -45.8% 6.41% −2.75
ARMK Aramark Sold out 0.00% −2.30
APA Apa Corp. Sold out 0.00% −2.12
OSG Octave Specialty Group Inc. Reduce -93.6% 0.17% −1.75
VLTO Veralto Corp. Sold out 0.00% −1.72
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) Reduce -5.1% 0.00% −1.70
ELF Elf Beauty Inc. Sold out 0.00% −1.30
DPZ Domino's Pizza Inc. Sold out 0.00% −1.28
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) Sold out 0.00% −1.26
AS Amer Sports Inc. Sold out 0.00% −1.23
UBER Uber Technologies Inc. Sold out 0.00% −1.14
PINS Pinterest Inc. Class A Sold out 0.00% −1.09
MDU Mdu Resources Group Inc. Sold out 0.00% −1.03
VSTS Vestis Corp. Sold out 0.00% −1.01
ATMU Atmus Filtration Technologie Sold out 0.00% −0.93
ADBE Adobe Inc. Sold out 0.00% −0.89
VRE Veris Residential Inc. Reduce -97.7% 0.03% −0.80
M Macy's Inc. Sold out 0.00% −0.76
WH Wyndham Hotels & Resorts Inc. Sold out 0.00% −0.73
SCRM Screaming Eagle Acq Class A Sold out 0.00% −0.54
BGC BGC Group Inc. Class A Reduce -62.3% 0.72% −0.33
EAGLE BULK SHIPPING INC Sold out 0.00% −0.31
CHEF The Chefs' Warehouse Inc. Sold out 0.00% −0.14
MDB Mongodb Inc. Sold out 0.00% −0.04
CRH CRH PLC Sold out 0.00% −0.03
BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) Sold out 0.00% −0.01
AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) Sold out 0.00% −0.00
ALLGF Allego NV Sold out 0.00% −0.00
NUTANIX INC (NTNX 0.25 10/01/27) Sold out 0.00% −0.00
GREENBRIER COS INC (GBX 2.875 04/15/28) Sold out 0.00% −0.00
UBER TECHNOLOGIES INC (UBER 0 12/15/25) Sold out 0.00% −0.00
ATSG Air Transport Services Group Reduce -42.7% 0.05% −0.00
STRIDE INC (LRN 1.125 09/01/27) Reduce -49.3% 0.00% −0.00
CYTOKINETICS INC (CYTK 3.5 07/01/27) Reduce -5.7% 2.47% +0.61
LSXMA Liberty Media Corp. Class A New Reduce -2.5% 5.47% +1.12

Portfolio Buys Q1 2024 → Q2 2024
CTLT Catalent Inc. Add +3760.0% 6.80% +6.72
ANSS Ansys Inc. Add +187.9% 8.11% +6.36
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) New 5.56% +5.56
CNX RESOURCES CORP (CNX 2.25 05/01/26) Add +148.0% 6.07% +4.68
DFS Discover Financial Services Add +194.8% 5.57% +4.46
X United States Steel Corp. Add +4.7% 8.81% +3.56
RCM R1 RCM Inc. New 3.32% +3.32
ALTAIR ENGINEERING INC (ALTR 1.75 06/15/27) Add +251.1% 3.72% +3.17
INFINERA CORP (INFN 3.75 08/01/28) New 1.75% +1.75
CELH Celsius Holdings Inc. Add +141.6% 2.19% +1.44
SQSP Squarespace Inc. Class A New 1.43% +1.43
SBOW Silverbow Resources Inc. New 1.42% +1.42
COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) Add +18.7% 2.51% +1.12
CENTURY ALUMINUM COMPANY (CENX 2.75 05/01/28) New 1.04% +1.04
ENVISTA HOLDINGS CORP (NVST 2.375 06/01/25) Add +17.8% 1.79% +0.79
CAVA Cava Group Inc. Add +12.3% 1.06% +0.64
WISDOMTREE INC (WT 5.75 08/15/28) New 0.59% +0.59
SEMTECH CORP (SMTC 1.625 11/01/27) New 0.45% +0.45
LION Lionsgate Studios Corp. New 0.05% +0.05
ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) New 0.01% +0.01
INSMED INC (INSM 0.75 06/01/28) New 0.01% +0.01
ETSY INC (ETSY 0.125 10/01/26) New 0.01% +0.01
INTERDIGITAL INC (IDCC 3.5 06/01/27) New 0.00% +0.00
ITRON INC (ITRI 0 03/15/26) New 0.00% +0.00
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) New 0.00% +0.00
CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) New 0.00% +0.00
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) Add +30.4% 0.01% +0.00
M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) New 0.00% +0.00
GREEN PLAINS INC (GPRE 2.25 03/15/27) New 0.00% +0.00
DATADOG INC (DDOG 0.125 06/15/25) Add +803.5% 0.00% +0.00
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) New 0.00% +0.00
ZSCALER INC. (ZS 0.125 07/01/25) Add +7.6% 0.01% +0.00
DROPBOX INC (DBX 0 03/01/28) New 0.00% +0.00
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) New 0.00% +0.00
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) New 0.00% +0.00
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) Add +36.2% 0.00% +0.00
CMS ENERGY CORP (CMS 3.375 05/01/28) New 0.00% +0.00
JBT MAREL CORP (JBTM 0.25 05/15/26) New 0.00% +0.00
DEXCOM INC (DXCM 0.25 11/15/25) New 0.00% +0.00
BENTLEY SYSTEMS (BSY 0.375 07/01/27) Add +90.4% 0.00% +0.00
AXON ENTERPRISE INC (AXON 0.5 12/15/27) Add +56.5% 0.01% −3.76

Options Activity Q1 2024 → Q2 2024
UNITED STATES STL CORP NEW put New 6,000 $2.0M
VOLATILITY SHS TR put Reduce -43.3% 7,211 $841K
STATE STR SPDR S&P 500 ETF T put New 750 $774K
ETSY INC put New 1,000 $347K
ATMUS FILTRATION TECHNOLOGIE put Sold out 2,092 $249Kbefore exit
MACYS INC call Sold out 1,040 $180Kbefore exit
NVIDIA CORPORATION put New 20 $92K
NVIDIA CORPORATION call New 51 $6K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2024 → Q2 2024
CLARIVATE PLC (CLVT 5.25 06/01/24 A) 5.25% PFD CONV A Sold out 424,125 $12.7Mbefore exit
SCRMW Screaming Eagle Acq Class A -27 *W EXP 99/99/999 Sold out 83,333 $39Kbefore exit
GHIXW Gores Holding Ix -CW24 *W EXP 01/14/202 Sold out 78,715 $21Kbefore exit
UNITED HOMES GROUP INC *W EXP 03/30/202 Sold out 12,500 $12Kbefore exit
SLDPW Decarbonization Plus -CW23 *W EXP 12/08/202 Sold out 45,387 $9Kbefore exit
SSTPW SYSTEM1 Inc.-CW *W EXP 01/27/202 Sold out 56,666 $6Kbefore exit
CVIIW Churchill Capital Vii -CW28 *W EXP 02/29/202 Sold out 15,638 $5Kbefore exit
SLMWF Slam Corp.-A -CW27 *W EXP 99/99/999 Sold out 31,250 $4Kbefore exit
GTACW Global Technology Acq -CW23 *W EXP 99/99/999 Sold out 112,500 $3Kbefore exit
ORGNW Origin Materials -CW26 *W EXP 06/25/202 Sold out 76,667 $2Kbefore exit
LANWF Lanvin Group Holdings Ltd.-27 *W EXP 01/14/202 Sold out 62,500 $2Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2026 69$420.1MWBD, EA, EQUINOX GOLD CORP (EQXCN 4.75 10/15/28), NSC, GUARDANT HEALTH INC (GH 1.25 02/15/31)
Q4 2025 77$660.5MSNOWFLAKE INC (SNOW 0 10/01/29), BX, AAPL, BOX INC (BOX 0 01/15/26), NSC
Q3 2025 64$456.4MAXON ENTERPRISE INC (AXON 0.5 12/15/27), STRATEGY INC (MSTR 0.625 09/15/28), WESTERN DIGITAL CORP (WDC 3 11/15/28), BOX INC (BOX 0 01/15/26), BURLINGTON STORES INC (BURL 1.25 12/15/27)
Q2 2025Amended 48$381.3MAXON ENTERPRISE INC (AXON 0.5 12/15/27), BOX INC (BOX 0 01/15/26), HES, LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29), INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28)
Q1 2025 44$314.7MHES, AXON ENTERPRISE INC (AXON 0.5 12/15/27), ANSS, BURLINGTON STORES INC (BURL 1.25 12/15/27), BOX INC (BOX 0 01/15/26)
Q4 2024 78$755.7MMSFT, AAPL, NVDA, GOOGL, LLY
Q3 2024 68$621.1MAXON ENTERPRISE INC (AXON 0.5 12/15/27), HES, CNX RESOURCES CORP (CNX 2.25 05/01/26), COST, INTERDIGITAL INC (IDCC 3.5 06/01/27)
Q2 2024 57$316.9MHES, X, ANSS, CTLT, LSXMK
Q1 2024 62$549.7MPXD, LSXMK, HES, ALTAIR ENGINEERING INC (ALTR 0.25 06/01/24), X