Brevan Howard Capital Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Brevan Howard Capital Management LP reported 1,604 stock positions worth $4.8 billion. Its top holding was FT Smallcap Buywrite Inc. ETF (FTKI) at 9.5% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 5.8%) and Alphabet Class A (GOOGL, 3.6%). Compared with Q3 2025, it opened 409 new positions, sold out of 600, added to 518 and reduced 675. The biggest buy was a new position in FT Smallcap Buywrite Inc. ETF (FTKI) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −85%).
- Most Recent 13F
- Q2 2026
- Location
- ST. HELIER, Y9
- CIK
- 0001512857
- Portfolio Value
- $4.8B (Q4 2025)
- SEC Filing
- 0000905148-26-000855 ↗ filed Feb 17, 2026
Holdings Value
Holdings 1,604 stocks · $4.8B
| FTKI FT Smallcap Buywrite Inc. ETF | 9.46% | 57,081,120 | $452.0M | New |
| IBIT iShares Bitcoin Trust ETF | 5.77% | 5,548,758 | $275.5M | Reduce -84.9% |
| GOOGL Alphabet Inc. Class A | 3.60% | 549,884 | $172.1M | Reduce -30.4% |
| GOOG Alphabet Inc. Class C | 3.15% | 480,053 | $150.6M | Add +9.8% |
| IVV iShares Core S&P 500 ETF | 2.34% | 162,970 | $112.0M | New |
| WMT Walmart Inc. | 2.04% | 875,623 | $97.6M | Add +838.8% |
| NVDA Nvidia Corp. | 1.97% | 504,152 | $94.0M | Reduce -16.3% |
| AAPL Apple Inc. | 1.56% | 274,033 | $74.5M | Reduce -29.1% |
| AVGO Broadcom Inc. | 1.54% | 211,631 | $73.4M | Add +314.9% |
| B Barrick Mining Corp. | 1.37% | 1,499,501 | $65.3M | Add +237.7% |
| TSLA Tesla Inc. | 1.29% | 137,164 | $61.7M | Add +31.0% |
| BABA Alibaba Group Holding-SP ADR | 1.16% | 379,350 | $55.3M | Add +232.5% |
| ORCL Oracle Corp. | 1.03% | 252,175 | $49.4M | Add +3358.2% |
| NEM Newmont Corp. | 0.85% | 404,407 | $40.4M | Reduce -4.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.82% | 712,959 | $39.2M | Add +98.7% |
| JPM JPMorgan Chase & Co. | 0.75% | 111,236 | $35.8M | Reduce -7.1% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.73% | 315,000 | $34.7M | New |
| COHR Coherent Corp. | 0.71% | 184,303 | $34.0M | Add +350.1% |
| C Citigroup Inc. | 0.70% | 285,999 | $33.4M | Reduce -5.3% |
| CME Cme Group Inc. | 0.64% | 111,950 | $30.6M | Add +6.0% |
| SNDK Sandisk Corp. | 0.61% | 123,362 | $29.3M | Add +6040.5% |
| LITE Lumentum Holdings Inc. | 0.52% | 67,356 | $24.8M | Add +3271.2% |
| GDX Vaneck Gold Miners ETF | 0.50% | 272,053 | $23.7M | Add +4.8% |
| AMZN Amazon.com Inc. | 0.47% | 97,543 | $22.5M | Reduce -24.1% |
| EA Electronic Arts Inc. | 0.44% | 102,000 | $20.8M | Add +188.0% |
| AA Alcoa Corp. | 0.43% | 387,491 | $20.6M | Add +586.4% |
| FYBR Frontier Communications Pare | 0.42% | 525,494 | $20.0M | Add +1.4% |
| LLY Eli Lilly & Co. | 0.42% | 18,562 | $20.0M | Reduce -9.7% |
| BSX Boston Scientific Corp. | 0.40% | 200,756 | $19.2M | Add +171.9% |
| TBBK The Bancorp Inc. | 0.37% | 259,460 | $17.5M | Add +7287.8% |
| NSC Norfolk Southern Corp. | 0.35% | 58,018 | $16.8M | Add +276.4% |
| SF Stifel Financial Corp. | 0.34% | 130,145 | $16.3M | Add +557.7% |
| REGN Regeneron Pharmaceuticals | 0.32% | 19,985 | $15.4M | Add +281.4% |
| BMY Bristol-Myers Squibb Co. | 0.31% | 276,233 | $14.9M | Add +280.2% |
| PAM Pampa Energia SA-Spon ADR | 0.30% | 165,940 | $14.6M | Add +63.4% |
| GILD Gilead Sciences Inc. | 0.29% | 114,639 | $14.1M | Add +468.7% |
| MRVL Marvell Technology Inc. | 0.29% | 164,807 | $14.0M | Add +1009.8% |
| TLT iShares 20+ Year Treasury BD | 0.29% | 160,000 | $13.9M | New |
| NB Niocorp Developments Ltd. | 0.28% | 2,560,416 | $13.6M | Add +76.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.28% | 22,000 | $13.5M | Reduce -11.6% |
| BBIO Bridgebio Pharma Inc. | 0.28% | 173,523 | $13.2M | Add +231.0% |
| MRK Merck & Co. Inc. | 0.27% | 124,146 | $13.1M | Add +33.3% |
| CCB Coastal Financial Corp. | 0.26% | 110,000 | $12.6M | New |
| NOW ServiceNow Inc. | 0.26% | 81,760 | $12.5M | Add +1193.7% |
| BIIB Biogen Inc. | 0.26% | 71,017 | $12.5M | Add +111.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.26% | 40,871 | $12.5M | Add +272.7% |
| VIST Vista Energy Sab DE CV | 0.26% | 250,045 | $12.2M | Add +229.9% |
| PPTA Perpetua Resources Corp. | 0.25% | 492,200 | $12.1M | Add +818.3% |
| BIDU Baidu Inc. - Spon ADR | 0.25% | 92,203 | $11.9M | Reduce -29.4% |
| PG The Procter & Gamble Co. | 0.25% | 82,703 | $11.9M | Add +10.7% |
| KEY Keycorp | 0.24% | 561,580 | $11.6M | Reduce -3.9% |
| JNJ Johnson & Johnson | 0.24% | 55,022 | $11.4M | Reduce -34.2% |
| CW Curtiss-Wright Corp. | 0.23% | 20,000 | $11.0M | Add +59.4% |
| SNDX Syndax Pharmaceuticals Inc. | 0.23% | 515,129 | $10.8M | Add +313.5% |
| VRT Vertiv Holdings Co. Class A | 0.23% | 66,451 | $10.8M | Add +16.9% |
| NFLX Netflix Inc. | 0.22% | 112,561 | $10.6M | Reduce -34.0% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.22% | 273,903 | $10.5M | Reduce -28.0% |
| BLK BlackRock Inc. | 0.22% | 9,776 | $10.5M | Add +132.7% |
| AFL Aflac Inc. | 0.22% | 93,951 | $10.4M | Add +7.6% |
| GS Goldman Sachs Group Inc. | 0.22% | 11,706 | $10.3M | Reduce -47.0% |
| TFC Truist Financial Corp. | 0.21% | 207,141 | $10.2M | Add +113.5% |
| ASND Ascendis Pharma A/S | 0.21% | 48,260 | $10.2M | New |
| SOFI Sofi Technologies Inc. | 0.21% | 383,874 | $10.0M | Add +201.2% |
| CHTR Charter Communications Inc. Class A | 0.21% | 47,739 | $10.0M | Add +200.5% |
| WFC Wells Fargo & Co. | 0.21% | 106,245 | $10.0M | Reduce -55.1% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.21% | 259,224 | $9.8M | Add +1542.4% |
| COLB Columbia Banking System Inc. | 0.20% | 350,000 | $9.8M | New |
| RL Ralph Lauren Corp. | 0.20% | 27,378 | $9.7M | Add +152.8% |
| ISRG Intuitive Surgical Inc. | 0.20% | 17,025 | $9.6M | Add +54.9% |
| NBN Northeast Bank | 0.20% | 92,107 | $9.6M | New |
| CASY Casey's General Stores Inc. | 0.19% | 16,283 | $9.0M | Reduce -16.5% |
| CCJ Cameco Corp. | 0.19% | 96,225 | $8.9M | Add +155.3% |
| BNC Cea Industries Inc. | 0.18% | 1,373,643 | $8.8M | Add +255.9% |
| CSCO Cisco Systems Inc. | 0.18% | 112,512 | $8.7M | Reduce -49.0% |
| FBK FB Financial Corp. filed as FB FINL CORP | 0.18% | 154,018 | $8.6M | New |
| PYPL PayPal Holdings Inc. | 0.18% | 145,734 | $8.5M | Reduce -1.9% |
| AAL American Airlines Group Inc. | 0.18% | 550,670 | $8.4M | Add +43.2% |
| CFG Citizens Financial Group | 0.18% | 143,954 | $8.4M | Add +89.1% |
| CASH Pathward Financial Inc. | 0.17% | 115,505 | $8.2M | Add +3777.3% |
| NTRA Natera Inc. | 0.17% | 35,328 | $8.2M | Add +496.9% |
| PLTR Palantir Technologies Inc. Class A | 0.17% | 45,354 | $8.1M | Reduce -50.3% |
| ASTS Ast Spacemobile Inc. | 0.17% | 110,546 | $8.0M | New |
| ABCB Ameris Bancorp | 0.17% | 107,588 | $8.0M | Add +135.3% |
| CDW CDW Corp. | 0.17% | 58,533 | $8.0M | Add +764.1% |
| PFE Pfizer Inc. | 0.16% | 315,190 | $7.8M | Reduce -6.3% |
| DHR Danaher Corp. | 0.16% | 32,948 | $7.5M | Add +895.7% |
| SSB Southstate Bank Corp. | 0.16% | 80,000 | $7.5M | New |
| FCNCA First Citizens Bcshs Class A | 0.16% | 3,500 | $7.5M | Add +379.4% |
| CNC Centene Corp. | 0.16% | 181,558 | $7.5M | Add +91.1% |
| CNOB Connectone Bancorp Inc. | 0.16% | 283,923 | $7.4M | New |
| SII Sprott Inc. | 0.15% | 75,000 | $7.4M | New |
| LPLA LPL Financial Holdings Inc. | 0.15% | 20,583 | $7.4M | Add +185.9% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.15% | 202,258 | $7.3M | Add +258.4% |
| SYY Sysco Corp. | 0.15% | 98,377 | $7.2M | Add +186.5% |
| COR Cencora Inc. | 0.15% | 21,433 | $7.2M | Add +471.6% |
| T AT&T Inc. | 0.15% | 291,383 | $7.2M | Add +37.9% |
| SGI Somnigroup International Inc. | 0.15% | 78,442 | $7.0M | Add +5.2% |
| MRSH Marsh & McLennan Cos | 0.15% | 37,970 | $7.0M | Add +20.5% |
| AZO AutoZone Inc. | 0.15% | 2,054 | $7.0M | Add +159.3% |
| CMI Cummins Inc. | 0.15% | 13,639 | $7.0M | Reduce -40.9% |
Options reported separately and not counted above: IBIT calls ($400.1M), NVDA puts ($385.7M), HYG puts ($355.0M), LQD calls ($330.6M), LQD puts ($286.5M), IBIT puts ($248.3M), QQQ calls ($232.2M), PDD calls ($183.2M), PDD puts ($174.2M), BAC calls ($129.3M), BABA puts ($89.4M), TLT calls ($87.2M), and 73 more.
Other holdings (25): bonds, preferreds, convertibles and warrants · $449.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 28,500,000 | $44.6M | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 33,000,000 | $37.4M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 30,000,000 | $31.4M | New |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 25,000,000 | $30.6M | New |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 22,500,000 | $24.1M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 24,000,000 | $23.8M | Add +220.0% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 23,000,000 | $23.8M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 20,000,000 | $22.0M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 20,000,000 | $20.9M | New |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 20,000,000 | $20.7M | New |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 20,000,000 | $20.5M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 15,000,000 | $20.0M | New |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 15,000,000 | $19.1M | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 15,000,000 | $17.0M | New |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 10,000,000 | $15.7M | New |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 12,500,000 | $12.9M | New |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 10,000,000 | $10.7M | New |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 10,000,000 | $10.6M | New |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 10,000,000 | $10.2M | New |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 10,000,000 | $9.9M | Add +100.0% |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | 7,000,000 | $8.2M | New |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 5,000,000 | $7.6M | New |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 5,000,000 | $4.9M | New |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 3,023,000 | $2.9M | No change |
| BZFDW Buzzfeed Inc. -CW27 | *W EXP 12/03/202 | 603,324 | $15K | No change |
Total filed on the 13F, all lines: $5.2B.
Portfolio Sells Q3 2025 → Q4 2025
| IBIT iShares Bitcoin Trust ETF | Reduce -84.9% | 5.77% | −28.93 |
| MSFT Microsoft Corp. | Reduce -97.5% | 0.10% | −2.74 |
| META Meta Platforms Inc. Class A | Reduce -99.0% | 0.03% | −2.04 |
| INSM Insmed Inc. | Sold out | 0.00% | −0.62 |
| FIX Comfort Systems USA Inc. | Reduce -96.4% | 0.03% | −0.54 |
| ALAB Astera Labs Inc. | Sold out | 0.00% | −0.53 |
| GLD SPDR Gold Shares | Reduce -98.9% | 0.01% | −0.47 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.43 |
| AEM Agnico Eagle Mines Ltd. | Sold out | 0.00% | −0.38 |
| RCAT Red Cat Holdings Inc. | Reduce -98.7% | 0.00% | −0.28 |
| MSTR Strategy Inc. | Reduce -84.4% | 0.03% | −0.26 |
| CIEN Ciena Corp. | Reduce -94.0% | 0.04% | −0.25 |
| K Kellanova | Sold out | 0.00% | −0.24 |
| IWV iShares Russell 3000 ETF | Sold out | 0.00% | −0.23 |
| V Visa Inc. Class A | Reduce -91.9% | 0.03% | −0.21 |
| CRWV Coreweave Inc. Class A | Reduce -92.8% | 0.01% | −0.20 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −0.20 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -92.5% | 0.02% | −0.19 |
| UUUU Energy Fuels Inc. | Reduce -98.0% | 0.01% | −0.19 |
| CVNA Carvana Co. | Sold out | 0.00% | −0.16 |
| XOM Exxon Mobil Corp. | Reduce -79.7% | 0.07% | −0.15 |
| IONQ Ionq Inc. | Reduce -87.5% | 0.02% | −0.15 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.13 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.13 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.13 |
| SCHW Schwab (charles) Corp. | Reduce -96.8% | 0.01% | −0.13 |
| HBAN Huntington Bancshares Inc. | Reduce -88.2% | 0.03% | −0.13 |
| MTB M & T Bank Corp. | Reduce -89.9% | 0.02% | −0.12 |
| ECHO Echostar Corp. Class A | Sold out | 0.00% | −0.12 |
| COP Conocophillips | Sold out | 0.00% | −0.12 |
| GD General Dynamics Corp. | Sold out | 0.00% | −0.11 |
| PM Philip Morris International | Sold out | 0.00% | −0.11 |
| WDC Western Digital Corp. | Sold out | 0.00% | −0.11 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.11 |
| KBE SS SPDR S&P Bank ETF | Sold out | 0.00% | −0.11 |
| CMG Chipotle Mexican Grill Inc. | Reduce -96.4% | 0.01% | −0.11 |
| UNP Union Pacific Corp. | Reduce -79.8% | 0.04% | −0.11 |
| CVX Chevron Corp. | Reduce -96.1% | 0.01% | −0.10 |
| USFD US Foods Holding Corp. | Reduce -92.3% | 0.01% | −0.10 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.10 |
| SO The Southern Co. | Reduce -81.6% | 0.03% | −0.09 |
| AMD Advanced Micro Devices | Reduce -75.8% | 0.08% | −0.09 |
| QCOM Qualcomm Inc. | Reduce -81.6% | 0.03% | −0.09 |
| LNG Cheniere Energy Inc. | Reduce -73.5% | 0.04% | −0.08 |
| ITB iShares U.S. Home Constructi | Sold out | 0.00% | −0.08 |
| UNH Unitedhealth Group Inc. | Reduce -89.9% | 0.01% | −0.08 |
| KRE SS SPDR S&P Regional Bank | Reduce -83.6% | 0.03% | −0.08 |
| DOV Dover Corp. | Reduce -86.1% | 0.03% | −0.08 |
| ASHR Xtrackers Harvest Csi 300 CH | Reduce -85.0% | 0.02% | −0.08 |
| WFC Wells Fargo & Co. | Reduce -55.1% | 0.21% | −0.08 |
Portfolio Buys Q3 2025 → Q4 2025
| FTKI FT Smallcap Buywrite Inc. ETF | New | 9.46% | +9.46 |
| IVV iShares Core S&P 500 ETF | New | 2.34% | +2.34 |
| WMT Walmart Inc. | Add +838.8% | 2.04% | +1.90 |
| GOOG Alphabet Inc. Class C | Add +9.8% | 3.15% | +1.61 |
| AVGO Broadcom Inc. | Add +314.9% | 1.54% | +1.29 |
| B Barrick Mining Corp. | Add +237.7% | 1.37% | +1.15 |
| ORCL Oracle Corp. | Add +3358.2% | 1.03% | +1.00 |
| BABA Alibaba Group Holding-SP ADR | Add +232.5% | 1.16% | +0.86 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | New | 0.73% | +0.73 |
| COHR Coherent Corp. | Add +350.1% | 0.71% | +0.65 |
| TSLA Tesla Inc. | Add +31.0% | 1.29% | +0.61 |
| SNDK Sandisk Corp. | Add +6040.5% | 0.61% | +0.61 |
| BAC Bank of America Corp. | Add +98.7% | 0.82% | +0.55 |
| LITE Lumentum Holdings Inc. | Add +3271.2% | 0.52% | +0.52 |
| AA Alcoa Corp. | Add +586.4% | 0.43% | +0.40 |
| TBBK The Bancorp Inc. | Add +7287.8% | 0.37% | +0.36 |
| EA Electronic Arts Inc. | Add +188.0% | 0.44% | +0.33 |
| SF Stifel Financial Corp. | Add +557.7% | 0.34% | +0.31 |
| BSX Boston Scientific Corp. | Add +171.9% | 0.40% | +0.30 |
| TLT iShares 20+ Year Treasury BD | New | 0.29% | +0.29 |
| NSC Norfolk Southern Corp. | Add +276.4% | 0.35% | +0.28 |
| REGN Regeneron Pharmaceuticals | Add +281.4% | 0.32% | +0.28 |
| MRVL Marvell Technology Inc. | Add +1009.8% | 0.29% | +0.28 |
| BMY Bristol-Myers Squibb Co. | Add +280.2% | 0.31% | +0.26 |
| CCB Coastal Financial Corp. | New | 0.26% | +0.26 |
| GILD Gilead Sciences Inc. | Add +468.7% | 0.29% | +0.26 |
| NOW ServiceNow Inc. | Add +1193.7% | 0.26% | +0.25 |
| PPTA Perpetua Resources Corp. | Add +818.3% | 0.25% | +0.24 |
| BBIO Bridgebio Pharma Inc. | Add +231.0% | 0.28% | +0.24 |
| CME Cme Group Inc. | Add +6.0% | 0.64% | +0.23 |
| VIST Vista Energy Sab DE CV | Add +229.9% | 0.26% | +0.22 |
| TSM Taiwan Semiconductor-SP ADR | Add +272.7% | 0.26% | +0.22 |
| PAM Pampa Energia SA-Spon ADR | Add +63.4% | 0.30% | +0.22 |
| ASND Ascendis Pharma A/S | New | 0.21% | +0.21 |
| GDX Vaneck Gold Miners ETF | Add +4.8% | 0.50% | +0.21 |
| COLB Columbia Banking System Inc. | New | 0.20% | +0.20 |
| NBN Northeast Bank | New | 0.20% | +0.20 |
| SNDX Syndax Pharmaceuticals Inc. | Add +313.5% | 0.23% | +0.20 |
| TTD Trade Desk Inc./the Class A | Add +1542.4% | 0.21% | +0.19 |
| BIIB Biogen Inc. | Add +111.9% | 0.26% | +0.19 |
| FBK FB Financial Corp. | New | 0.18% | +0.18 |
| CASH Pathward Financial Inc. | Add +3777.3% | 0.17% | +0.17 |
| ASTS Ast Spacemobile Inc. | New | 0.17% | +0.17 |
| SOFI Sofi Technologies Inc. | Add +201.2% | 0.21% | +0.16 |
| MRK Merck & Co. Inc. | Add +33.3% | 0.27% | +0.16 |
| SSB Southstate Bank Corp. | New | 0.16% | +0.16 |
| NTRA Natera Inc. | Add +496.9% | 0.17% | +0.16 |
| CNOB Connectone Bancorp Inc. | New | 0.16% | +0.16 |
| SII Sprott Inc. | New | 0.15% | +0.15 |
| RL Ralph Lauren Corp. | Add +152.8% | 0.20% | +0.15 |
Options Activity Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | call | Sold out | 14,280,000 | $3.5Bbefore exit |
| META Meta Platforms Inc. Class A | call | Sold out | 1,740,000 | $1.3Bbefore exit |
| MSFT Microsoft Corp. | call | Sold out | 2,279,600 | $1.2Bbefore exit |
| EEM iShares MSCI Emerging Market | call | Sold out | 19,950,000 | $1.1Bbefore exit |
| IBIT iShares Bitcoin Trust ETF | call | Add +151.8% | 8,058,800 | $400.1M |
| NVDA Nvidia Corp. | put | Add +89.0% | 2,068,000 | $385.7M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -48.9% | 4,403,200 | $355.0M |
| GOOG Alphabet Inc. Class C | put | Sold out | 1,200,000 | $292.3Mbefore exit |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | Reduce -13.3% | 2,600,000 | $286.5M |
| IBIT iShares Bitcoin Trust ETF | put | Add +150.0% | 5,000,000 | $248.3M |
| AEM Agnico Eagle Mines Ltd. | call | Sold out | 1,440,000 | $242.5Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -30.7% | 378,000 | $232.2M |
| GDX Vaneck Gold Miners ETF | call | Sold out | 2,400,000 | $183.4Mbefore exit |
| PDD PDD Holdings Inc. | call | Reduce -84.5% | 101,000 | $183.2M |
| GLD SPDR Gold Shares | put | Sold out | 500,000 | $177.7Mbefore exit |
| B Barrick Mining Corp. | call | Sold out | 5,400,000 | $177.3Mbefore exit |
| NEM Newmont Corp. | call | Sold out | 2,100,000 | $177.1Mbefore exit |
| PDD PDD Holdings Inc. | put | Reduce -77.0% | 96,000 | $174.2M |
| FXI iShares China Large-Cap ETF | call | Sold out | 4,000,000 | $164.6Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 200,000 | $133.2Mbefore exit |
| BAC Bank of America Corp. | call | New | 2,350,000 | $129.3M |
| BABA Alibaba Group Holding-SP ADR | put | Add +107.8% | 613,000 | $89.4M |
| XHB SS SPDR S&P Homebldrs ETF | call | Add +340.0% | 660,000 | $68.0M |
| AGNC AGNC Investment Corp. | put | Add +175.0% | 5,500,000 | $59.2M |
| BIDU Baidu Inc. - Spon ADR | call | Reduce -82.1% | 445,800 | $57.8M |
| XLU St Sr Utl SL SE SPDR ETF-Usd | put | New | 1,300,000 | $55.5M |
| ASHR Xtrackers Harvest Csi 300 CH | call | Reduce -86.9% | 1,575,000 | $51.7M |
| GOOGL Alphabet Inc. Class A | put | Sold out | 200,000 | $48.6Mbefore exit |
| XLE SS Energy Select Sector | call | Sold out | 1,000,000 | $44.7Mbefore exit |
| LMT Lockheed Martin Corp. | call | Sold out | 85,000 | $42.4Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | New | 500,000 | $40.3M |
| WU Western Union Co. | call | New | 4,311,200 | $40.1M |
| AMZN Amazon.com Inc. | call | Sold out | 180,000 | $39.5Mbefore exit |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -30.1% | 248,200 | $36.2M |
| KBE SS SPDR S&P Bank ETF | put | Sold out | 500,000 | $29.7Mbefore exit |
| ORCL Oracle Corp. | call | New | 150,000 | $29.4M |
| SNOW Snowflake Inc. | put | Reduce -2.0% | 131,300 | $28.8M |
| XLK SS Technology Select Sector | put | New | 200,000 | $28.8M |
| IWM iShares Russell 2000 ETF | call | Reduce -61.3% | 116,000 | $28.6M |
| CMCSA Comcast Corp. Class A | call | New | 900,000 | $26.9M |
| BAC Bank of America Corp. | put | Sold out | 500,000 | $25.8Mbefore exit |
| AAPL Apple Inc. | call | Sold out | 100,000 | $25.5Mbefore exit |
| KBE SS SPDR S&P Bank ETF | call | New | 400,000 | $24.3M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 40,000 | $24.0Mbefore exit |
| XLB SS Materials Select Sector | put | New | 500,000 | $22.7M |
| XLB SS Materials Select Sector | call | New | 500,000 | $22.7M |
| USO United States Oil Fund LP | call | Sold out | 300,000 | $22.1Mbefore exit |
| LLY Eli Lilly & Co. | call | New | 20,000 | $21.6M |
| ITB iShares U.S. Home Constructi | call | Sold out | 200,000 | $21.4Mbefore exit |
| XLU St Sr Utl SL SE SPDR ETF-Usd | call | New | 500,000 | $21.3M |
Showing the first 50 of 133.
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
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | New | 33,000,000 | $37.4M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | New | 30,000,000 | $31.4M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | New | 25,000,000 | $30.6M |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | New | 22,500,000 | $24.1M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +220.0% | 24,000,000 | $23.8M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | New | 23,000,000 | $23.8M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | New | 20,000,000 | $22.0M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | New | 20,000,000 | $20.9M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | New | 20,000,000 | $20.7M |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | New | 20,000,000 | $20.5M |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | New | 15,000,000 | $20.0M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | New | 15,000,000 | $19.1M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 15,000,000 | $17.0M |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | New | 10,000,000 | $15.7M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | New | 12,500,000 | $12.9M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | New | 10,000,000 | $10.7M |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | New | 10,000,000 | $10.6M |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | New | 10,000,000 | $10.2M |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +100.0% | 10,000,000 | $9.9M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Sold out | 9,500,000 | $9.4Mbefore exit |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | New | 7,000,000 | $8.2M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Sold out | 4,000,000 | $8.0Mbefore exit |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | New | 5,000,000 | $7.6M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | New | 5,000,000 | $4.9M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Sold out | 2,500,000 | $2.4Mbefore exit |
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 | 1,888 | $6.8B | IVV, IBIT, AAPL, MSFT, KRE |
| Q1 2026 | 1,996 | $9.7B | IBIT, QQQ, HYG, NVDA, TSLA |
| Q4 2025 | 1,604 | $4.8B | FTKI, IBIT, GOOGL, GOOG, IVV |
| Q3 2025 | 1,793 | $6.9B | IBIT, MSFT, GOOGL, META, NVDA |
| Q2 2025 | 1,718 | $9.0B | IBIT, IVVB, GOOGL, MSFT, PLTR |
| Q1 2025 | 1,068 | $3.5B | IBIT, EEM, AAPL, NVDA, PFE |
| Q4 2024 | 955 | $4.0B | IBIT, EEM, XLF, ETHA, VIST |
| Q3 2024 | 1,038 | $2.0B | EEM, MSFT, NVDA, SPOT, META |
| Q2 2024 | 966 | $1.5B | HYG, AAPL, XLF, XOM, UNH |
| Q1 2024 | 910 | $1.1B | WDAY, PXD, CME, HES, AAPL |