Candriam S.C.A.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Candriam S.C.A. reported 646 stock positions worth $17.2 billion. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Nvidia (NVDA, 6.8%) and Apple (AAPL, 4.1%). Compared with Q1 2025, it opened 60 new positions, sold out of 55, added to 218 and reduced 342. The biggest buy was Nvidia (NVDA, shares +1%) and the biggest sale Unitedhealth (UNH, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- STRASSEN, N4
- CIK
- 0001537014
- Portfolio Value
- $17.2B (Q2 2025)
- SEC Filing
- 0001085146-25-004698 ↗ filed Aug 8, 2025
Holdings Value
Holdings 646 stocks · $17.2B
| MSFT Microsoft Corp. | 7.45% | 2,582,927 | $1.3B | Reduce -2.6% |
| NVDA Nvidia Corp. | 6.81% | 7,427,994 | $1.2B | Add +1.1% |
| AAPL Apple Inc. | 4.07% | 3,416,085 | $700.9M | Add +0.2% |
| AMZN Amazon.com Inc. | 2.79% | 2,194,306 | $481.4M | Add +5.8% |
| AVGO Broadcom Inc. | 2.51% | 1,567,258 | $432.0M | Add +33.3% |
| GOOGL Alphabet Inc. Class A | 2.39% | 2,333,489 | $411.2M | Reduce -12.5% |
| LLY Eli Lilly & Co. | 2.08% | 460,808 | $359.2M | Reduce -4.2% |
| META Meta Platforms Inc. Class A | 1.53% | 357,909 | $264.2M | Reduce -5.5% |
| MA Mastercard Inc. Class A | 1.45% | 444,555 | $249.8M | Reduce -4.7% |
| CRM Salesforce Inc. | 1.18% | 747,535 | $203.9M | Add +3.2% |
| JPM JPMorgan Chase & Co. | 1.16% | 687,449 | $199.3M | Reduce -10.1% |
| TSM Taiwan Semiconductor-SP ADR | 1.13% | 861,029 | $195.0M | Reduce -6.7% |
| ISRG Intuitive Surgical Inc. | 1.05% | 333,546 | $181.3M | Reduce -4.7% |
| V Visa Inc. Class A | 1.03% | 501,341 | $178.0M | Reduce -6.1% |
| PG The Procter & Gamble Co. | 1.01% | 1,092,698 | $174.1M | Reduce -16.8% |
| GOOG Alphabet Inc. Class C | 0.98% | 950,766 | $168.7M | Add +3.9% |
| GILD Gilead Sciences Inc. | 0.97% | 1,509,838 | $167.4M | Reduce -4.1% |
| PANW Palo Alto Networks Inc. | 0.96% | 810,897 | $165.9M | Add +1.9% |
| WM Waste Management Inc. | 0.86% | 650,705 | $148.9M | Reduce -16.1% |
| ABT Abbott Laboratories | 0.83% | 1,046,883 | $142.4M | Add +63.8% |
| AMGN Amgen Inc. | 0.82% | 505,720 | $141.2M | Reduce -0.1% |
| TMO Thermo Fisher Scientific Inc. | 0.79% | 337,473 | $136.8M | Reduce -20.1% |
| MRK Merck & Co. Inc. | 0.76% | 1,654,099 | $130.9M | Reduce -23.0% |
| NOW ServiceNow Inc. | 0.74% | 123,967 | $127.5M | Add +0.8% |
| EMR Emerson Electric Co. | 0.71% | 912,975 | $121.7M | Reduce -12.7% |
| HD Home Depot Inc. | 0.68% | 317,480 | $116.4M | Reduce -14.8% |
| MCK McKesson Corp. | 0.64% | 150,600 | $110.4M | Add +24.1% |
| MU Micron Technology Inc. | 0.63% | 875,156 | $107.9M | Reduce -20.9% |
| ABBV Abbvie Inc. | 0.62% | 575,792 | $106.9M | Add +43.4% |
| AXP American Express Co. | 0.58% | 315,729 | $100.7M | Reduce -1.7% |
| LRCX Lam Research Corp. | 0.58% | 1,030,267 | $100.3M | Add +23.6% |
| WAB Wabtec Corp. | 0.56% | 465,026 | $97.4M | Add +7.4% |
| NFLX Netflix Inc. | 0.56% | 72,305 | $96.8M | Add +34.6% |
| ADSK Autodesk Inc. | 0.55% | 307,776 | $95.3M | Reduce -8.0% |
| ZTS Zoetis Inc. | 0.54% | 594,840 | $92.8M | Add +19.3% |
| MELI MercadoLibre Inc. | 0.54% | 35,312 | $92.3M | Reduce -6.0% |
| ON On Semiconductor | 0.52% | 1,722,891 | $90.3M | Reduce -1.8% |
| BSX Boston Scientific Corp. | 0.52% | 836,025 | $89.8M | Add +101.5% |
| DHR Danaher Corp. | 0.52% | 451,933 | $89.3M | Add +13.2% |
| CSCO Cisco Systems Inc. | 0.52% | 1,280,687 | $88.9M | Add +19.7% |
| PGR Progressive Corp. | 0.51% | 328,955 | $87.8M | Reduce -1.2% |
| BKNG Booking Holdings Inc. | 0.50% | 14,758 | $85.4M | Reduce -0.8% |
| ICE Intercontinental Exchange Inc. | 0.49% | 461,821 | $84.7M | Add +31.5% |
| ECL Ecolab Inc. | 0.47% | 303,773 | $81.9M | Reduce -2.0% |
| TSLA Tesla Inc. | 0.46% | 248,894 | $79.1M | Reduce -51.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.46% | 176,398 | $78.5M | Reduce -11.0% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.45% | 238,084 | $77.6M | Reduce -4.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.45% | 622,302 | $76.9M | Reduce -3.2% |
| GEV GE Vernova Inc. | 0.44% | 143,660 | $76.0M | Add +64.3% |
| MRVL Marvell Technology Inc. | 0.44% | 972,751 | $75.3M | Add +12.4% |
| REGN Regeneron Pharmaceuticals | 0.43% | 142,208 | $74.7M | Reduce -33.8% |
| VEEV Veeva Systems Inc. Class A | 0.43% | 255,320 | $73.5M | Reduce -23.1% |
| CDNS Cadence Design SYS Inc. | 0.42% | 233,633 | $72.0M | Reduce -17.4% |
| AMD Advanced Micro Devices | 0.42% | 505,423 | $71.7M | Reduce -6.5% |
| SYK Stryker Corp. | 0.41% | 179,077 | $70.9M | Reduce -2.3% |
| INCY Incyte Corp. | 0.41% | 1,031,121 | $70.2M | Add +18.7% |
| MS Morgan Stanley | 0.40% | 494,832 | $69.7M | Reduce -5.8% |
| WMT Walmart Inc. | 0.40% | 709,945 | $69.4M | Reduce -2.6% |
| ONC Beone Medicines Ltd.-ADR | 0.39% | 280,286 | $67.9M | Reduce -2.0% |
| QCOM Qualcomm Inc. | 0.39% | 418,326 | $66.6M | Reduce -1.5% |
| CTAS Cintas Corp. | 0.39% | 298,207 | $66.5M | Reduce -0.3% |
| TRMB Trimble Inc. | 0.38% | 869,904 | $66.1M | Reduce -0.2% |
| ROK Rockwell Automation Inc. | 0.38% | 197,072 | $65.5M | Reduce -1.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.37% | 709,368 | $64.6M | Add +4.4% |
| XYL Xylem Inc. | 0.37% | 498,043 | $64.4M | Add +13.0% |
| WELL Welltower Inc. | 0.37% | 416,674 | $64.1M | Add +2.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 1,349,979 | $63.9M | Reduce -3.1% |
| A Agilent Technologies Inc. | 0.37% | 533,466 | $63.0M | Add +2.4% |
| ADP Automatic Data Processing | 0.36% | 202,602 | $62.5M | Add +3.2% |
| BNTX Biontech SE-ADR | 0.36% | 586,736 | $62.5M | Reduce -12.6% |
| HCA HCA Healthcare Inc. | 0.36% | 161,640 | $61.9M | Add +3.2% |
| UNH Unitedhealth Group Inc. | 0.35% | 195,197 | $60.9M | Reduce -33.1% |
| MPWR Monolithic Power Systems Inc. | 0.34% | 80,346 | $58.8M | Add +4.8% |
| SPGI S&P Global Inc. | 0.34% | 109,959 | $58.0M | Reduce -15.9% |
| MDLZ Mondelez International Inc. Class A | 0.33% | 838,945 | $56.6M | Reduce -14.6% |
| PTC PTC Inc. | 0.32% | 321,208 | $55.4M | Reduce -14.3% |
| PFE Pfizer Inc. | 0.32% | 2,240,955 | $54.3M | Add +35.0% |
| AWK American Water Works Co. Inc. | 0.31% | 387,482 | $53.9M | Add +0.4% |
| COST Costco Wholesale Corp. | 0.30% | 52,866 | $52.3M | Reduce -6.2% |
| EXC Exelon Corp. | 0.30% | 1,203,699 | $52.3M | Add +670.4% |
| AMAT Applied Materials Inc. | 0.30% | 281,482 | $51.5M | Reduce -19.5% |
| EBAY eBay Inc. | 0.29% | 680,847 | $50.7M | Reduce -14.6% |
| KO The Coca-Cola Co. | 0.29% | 706,293 | $50.0M | Add +41.7% |
| ZS Zscaler Inc. | 0.29% | 158,310 | $49.7M | Add +9.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 394,172 | $48.9M | Add +21.7% |
| DGX Quest Diagnostics Inc. | 0.28% | 265,771 | $47.7M | Reduce -4.6% |
| BMY Bristol-Myers Squibb Co. | 0.27% | 1,002,904 | $46.4M | Reduce -8.4% |
| SNPS Synopsys Inc. | 0.27% | 89,418 | $45.8M | Add +17.1% |
| JNJ Johnson & Johnson | 0.26% | 295,670 | $45.2M | Reduce -1.1% |
| SYF Synchrony Financial | 0.26% | 665,006 | $44.4M | Add +12.2% |
| INSM Insmed Inc. | 0.26% | 438,688 | $44.2M | Reduce -3.7% |
| IDXX Idexx Laboratories Inc. | 0.25% | 79,028 | $42.4M | Reduce -3.9% |
| ADI Analog Devices Inc. | 0.25% | 177,580 | $42.3M | Add +70.4% |
| PEP Pepsico Inc. | 0.24% | 314,457 | $41.5M | Reduce -17.7% |
| PH Parker Hannifin Corp. | 0.24% | 58,911 | $41.1M | Reduce -1.3% |
| CRDO Credo Technology Group Holdi | 0.22% | 418,771 | $38.8M | Reduce -42.5% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.22% | 74,658 | $38.0M | Reduce -58.5% |
| NBIX Neurocrine Biosciences Inc. | 0.22% | 298,551 | $37.5M | Reduce -9.8% |
| FISV Fiserv Inc. | 0.22% | 215,437 | $37.1M | Add +2.0% |
| CME Cme Group Inc. | 0.21% | 132,581 | $36.5M | Add +59.6% |
Other holdings (33): bonds, preferreds, convertibles and warrants · $96.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 12,800 | $11.5M | Add +100.0% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 10,800 | $11.0M | Add +58.8% |
| RL Ralph Lauren Corp. | CL A · principal | 9,557 | $9.5M | Add +45.8% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 8,900 | $9.0M | Add +93.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 6,500 | $6.3M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 5,900 | $5.7M | Add +25.5% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 5,600 | $5.5M | Add +9.8% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 4,900 | $5.1M | Add +716.7% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 5,250 | $5.1M | Add +356.5% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 2,950 | $4.6M | Add +637.5% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 3,500 | $3.4M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 2,850 | $3.4M | Add +171.4% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 2,880 | $2.7M | Reduce -5.0% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 1,950 | $2.2M | Reduce -26.4% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 1,700 | $1.6M | Add +54.5% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 1,200 | $1.4M | Reduce -61.3% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 1,100 | $1.4M | No change |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 1,050 | $1.2M | No change |
| NU Nu Holdings Ltd./Cayman Isl-A | ORD SHS CL A · principal | 500 | $1.1M | New |
| VMC Vulcan Materials Co. | COM · principal | 700 | $941K | New |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 900 | $891K | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 600 | $593K | No change |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 400 | $430K | No change |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 200 | $360K | No change |
| SQM Quimica Y Minera Chil-SP ADR | SPON ADR SER B · principal | 200 | $304K | New |
| BBD Banco Bradesco-ADR | SP ADR PFD NEW · principal | 350 | $295K | New |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 200 | $259K | No change |
| GFI Gold Fields Ltd.-Spons ADR | SPONSORED ADR · principal | 200 | $236K | New |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 200 | $207K | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 200 | $203K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 4,200 | $4K | No change |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 300 | $273 | Reduce -50.0% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 200 | $215 | New |
Total filed on the 13F, all lines: $17.3B.
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -33.1% | 0.35% | −0.61 |
| TMO Thermo Fisher Scientific Inc. | Reduce -20.1% | 0.79% | −0.53 |
| MRK Merck & Co. Inc. | Reduce -23.0% | 0.76% | −0.46 |
| REGN Regeneron Pharmaceuticals | Reduce -33.8% | 0.43% | −0.43 |
| LLY Eli Lilly & Co. | Reduce -4.2% | 2.08% | −0.42 |
| PG The Procter & Gamble Co. | Reduce -16.8% | 1.01% | −0.40 |
| TSLA Tesla Inc. | Reduce -51.8% | 0.46% | −0.38 |
| WM Waste Management Inc. | Reduce -16.1% | 0.86% | −0.27 |
| CI The Cigna Group | Reduce -56.8% | 0.14% | −0.22 |
| GOOGL Alphabet Inc. Class A | Reduce -12.5% | 2.39% | −0.21 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -99.0% | 0.00% | −0.20 |
| HD Home Depot Inc. | Reduce -14.8% | 0.68% | −0.19 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -58.5% | 0.22% | −0.18 |
| AMGN Amgen Inc. | Reduce -0.1% | 0.82% | −0.17 |
| NEE Nextera Energy Inc. | Reduce -38.9% | 0.21% | −0.17 |
| MA Mastercard Inc. Class A | Reduce -4.7% | 1.45% | −0.16 |
| BMY Bristol-Myers Squibb Co. | Reduce -8.4% | 0.27% | −0.15 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -11.0% | 0.46% | −0.15 |
| V Visa Inc. Class A | Reduce -6.1% | 1.03% | −0.15 |
| TFC Truist Financial Corp. | Reduce -82.9% | 0.03% | −0.14 |
| GILD Gilead Sciences Inc. | Reduce -4.1% | 0.97% | −0.14 |
| PEP Pepsico Inc. | Reduce -17.7% | 0.24% | −0.12 |
| KKR KKR & Co. Inc. | Reduce -76.4% | 0.04% | −0.12 |
| BMA Banco Macro SA-ADR | Sold out | 0.00% | −0.11 |
| AMP Ameriprise Financial Inc. | Reduce -51.1% | 0.11% | −0.11 |
| ORLY O'reilly Automotive Inc. | Reduce -73.4% | 0.03% | −0.10 |
| MTB M & T Bank Corp. | Reduce -84.4% | 0.02% | −0.10 |
| TXN Texas Instruments Inc. | Reduce -50.2% | 0.11% | −0.10 |
| ONC Beone Medicines Ltd.-ADR | Reduce -2.0% | 0.39% | −0.10 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -69.2% | 0.05% | −0.10 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -9.6% | 0.18% | −0.10 |
| PDD PDD Holdings Inc. | Reduce -62.5% | 0.04% | −0.09 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.09 |
| MDLZ Mondelez International Inc. Class A | Reduce -14.6% | 0.33% | −0.09 |
| PNC PNC Financial Services Group | Reduce -32.2% | 0.18% | −0.09 |
| OTIS Otis Worldwide Corp. | Reduce -21.8% | 0.20% | −0.09 |
| MAR Marriott International Class A | Reduce -48.5% | 0.10% | −0.09 |
| BSAC Banco Santander-Chile-ADR | Reduce -55.8% | 0.07% | −0.09 |
| PGR Progressive Corp. | Reduce -1.2% | 0.51% | −0.08 |
| SPGI S&P Global Inc. | Reduce -15.9% | 0.34% | −0.08 |
| MRSH Marsh & McLennan Cos | Reduce -46.0% | 0.07% | −0.08 |
| WCN Waste Connections Inc. | Reduce -22.9% | 0.17% | −0.08 |
| ALL Allstate Corp. | Reduce -21.2% | 0.19% | −0.08 |
| PATH Uipath Inc. Class A | Reduce -72.9% | 0.04% | −0.08 |
| ARE Alexandria Real Estate Equit | Reduce -91.0% | 0.01% | −0.08 |
| HR Healthcare Realty Trust Inc. | Reduce -37.2% | 0.09% | −0.08 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -61.7% | 0.04% | −0.07 |
| CLH Clean Harbors Inc. | Reduce -54.1% | 0.07% | −0.07 |
| LOW Lowe's Cos Inc. | Reduce -44.9% | 0.06% | −0.07 |
| VNET Vnet Group Inc.-ADR | Sold out | 0.00% | −0.07 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +1.1% | 6.81% | +1.79 |
| AVGO Broadcom Inc. | Add +33.3% | 2.51% | +1.26 |
| AMZN Amazon.com Inc. | Add +5.8% | 2.79% | +0.31 |
| ABT Abbott Laboratories | Add +63.8% | 0.83% | +0.29 |
| GEV GE Vernova Inc. | Add +64.3% | 0.44% | +0.27 |
| EXC Exelon Corp. | Add +670.4% | 0.30% | +0.26 |
| BSX Boston Scientific Corp. | Add +101.5% | 0.52% | +0.26 |
| NFLX Netflix Inc. | Add +34.6% | 0.56% | +0.25 |
| LRCX Lam Research Corp. | Add +23.6% | 0.58% | +0.20 |
| CAH Cardinal Health Inc. | Add +607.5% | 0.17% | +0.15 |
| LAUR Laureate Education Inc. | Add +510.4% | 0.16% | +0.14 |
| TPR Tapestry Inc. | New | 0.13% | +0.13 |
| MTZ Mastec Inc. | Add +292.3% | 0.16% | +0.13 |
| MCK McKesson Corp. | Add +24.1% | 0.64% | +0.13 |
| NKE Nike Inc. Class B | Add +332.4% | 0.16% | +0.12 |
| NOW ServiceNow Inc. | Add +0.8% | 0.74% | +0.12 |
| TGT Target Corp. | Add +509.0% | 0.15% | +0.12 |
| TOST Toast Inc. Class A | Add +385.0% | 0.14% | +0.12 |
| CGON CG Oncology Inc. | New | 0.12% | +0.12 |
| ADI Analog Devices Inc. | Add +70.4% | 0.25% | +0.11 |
| ICE Intercontinental Exchange Inc. | Add +31.5% | 0.49% | +0.11 |
| PANW Palo Alto Networks Inc. | Add +1.9% | 0.96% | +0.11 |
| ZS Zscaler Inc. | Add +9.1% | 0.29% | +0.11 |
| IAG Iamgold Corp. | New | 0.11% | +0.11 |
| AEM Agnico Eagle Mines Ltd. | Add +765.5% | 0.12% | +0.11 |
| GL Globe Life Inc. | New | 0.10% | +0.10 |
| MRVL Marvell Technology Inc. | Add +12.4% | 0.44% | +0.10 |
| CSCO Cisco Systems Inc. | Add +19.7% | 0.52% | +0.10 |
| VTR Ventas Inc. | Add +622.3% | 0.12% | +0.10 |
| ROIV Roivant Sciences Ltd. | Add +5399.5% | 0.10% | +0.10 |
| ORCL Oracle Corp. | Add +31.2% | 0.20% | +0.09 |
| SUI Sun Communities Inc. | Add +1688.2% | 0.10% | +0.09 |
| ABBV Abbvie Inc. | Add +43.4% | 0.62% | +0.09 |
| DIS The Walt Disney Co. | Add +21.7% | 0.28% | +0.08 |
| GOOG Alphabet Inc. Class C | Add +3.9% | 0.98% | +0.08 |
| INCY Incyte Corp. | Add +18.7% | 0.41% | +0.08 |
| CME Cme Group Inc. | Add +59.6% | 0.21% | +0.07 |
| WAB Wabtec Corp. | Add +7.4% | 0.56% | +0.07 |
| EXEL Exelixis Inc. | Add +65.5% | 0.15% | +0.07 |
| GWRE Guidewire Software Inc. | New | 0.07% | +0.07 |
| EME Emcor Group Inc. | Add +244.0% | 0.08% | +0.07 |
| KO The Coca-Cola Co. | Add +41.7% | 0.29% | +0.06 |
| MKTX Marketaxess Holdings Inc. | New | 0.06% | +0.06 |
| VNO Vornado Realty Trust | New | 0.06% | +0.06 |
| MPWR Monolithic Power Systems Inc. | Add +4.8% | 0.34% | +0.06 |
| USB US Bancorp | Add +65.6% | 0.15% | +0.06 |
| SYF Synchrony Financial | Add +12.2% | 0.26% | +0.06 |
| SNPS Synopsys Inc. | Add +17.1% | 0.27% | +0.06 |
| JBL Jabil Inc. | New | 0.06% | +0.06 |
| DECK Deckers Outdoor Corp. | Add +797.3% | 0.06% | +0.06 |
Notes & Other Activity Q1 2025 → Q2 2025
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Add +100.0% | 12,800 | $11.5M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Add +58.8% | 10,800 | $11.0M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 9,300 | $9.8Mbefore exit |
| RL Ralph Lauren Corp. | CL A · principal | Add +45.8% | 9,557 | $9.5M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Add +93.5% | 8,900 | $9.0M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Add +25.5% | 5,900 | $5.7M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +9.8% | 5,600 | $5.5M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +716.7% | 4,900 | $5.1M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +356.5% | 5,250 | $5.1M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +637.5% | 2,950 | $4.6M |
| BZ Kanzhun Ltd. - ADR | SPONSORED ADS · principal | Sold out | 3,700 | $4.3Mbefore exit |
| ZBH Zimmer Biomet Holdings Inc. | COM · principal | Sold out | 2,600 | $3.4Mbefore exit |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Add +171.4% | 2,850 | $3.4M |
| DHR Danaher Corp. | COM · principal | Sold out | 3,200 | $3.1Mbefore exit |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Sold out | 2,900 | $2.9Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Reduce -5.0% | 2,880 | $2.7M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Reduce -26.4% | 1,950 | $2.2M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +54.5% | 1,700 | $1.6M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Reduce -61.3% | 1,200 | $1.4M |
| NU Nu Holdings Ltd./Cayman Isl-A | ORD SHS CL A · principal | New | 500 | $1.1M |
| OKE Oneok Inc. | COM · principal | Sold out | 1,025 | $1.1Mbefore exit |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Sold out | 800 | $1.0Mbefore exit |
| VMC Vulcan Materials Co. | COM · principal | New | 700 | $941K |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | New | 900 | $891K |
| INTR Inter & Co. Inc. Class A | CLASS A COM · principal | Sold out | 500 | $845Kbefore exit |
| LOW Lowe's Cos Inc. | COM · principal | Sold out | 900 | $816Kbefore exit |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Sold out | 500 | $644Kbefore exit |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 450 | $595Kbefore exit |
| SQM Quimica Y Minera Chil-SP ADR | SPON ADR SER B · principal | New | 200 | $304K |
| BBD Banco Bradesco-ADR | SP ADR PFD NEW · principal | New | 350 | $295K |
| BSX Boston Scientific Corp. | COM · principal | Sold out | 350 | $286Kbefore exit |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | Sold out | 100 | $238Kbefore exit |
| GFI Gold Fields Ltd.-Spons ADR | SPONSORED ADR · principal | New | 200 | $236K |
| SOLV Solventum Corp. | COM SHS · principal | Sold out | 200 | $231Kbefore exit |
| GGG Graco Inc. | COM · principal | Sold out | 200 | $210Kbefore exit |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | New | 200 | $207K |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Sold out | 3,600 | $3Kbefore exit |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Reduce -50.0% | 300 | $273 |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | New | 200 | $215 |
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 | 660 | $22.1B | NVDA, AAPL, MSFT, GOOGL, AVGO |
| Q1 2026 | 673 | $19.2B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q4 2025Amended | 662 | $20.0B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q3 2025 | 635 | $19.0B | MSFT, NVDA, AAPL, GOOGL, AMZN |
| Q2 2025 | 646 | $17.2B | MSFT, NVDA, AAPL, AMZN, AVGO |
| Q1 2025 | 640 | $15.9B | MSFT, NVDA, AAPL, GOOGL, LLY |
| Q4 2024 | 638 | $17.2B | MSFT, NVDA, AAPL, GOOGL, AMZN |
| Q3 2024 | 638 | $17.3B | MSFT, NVDA, AAPL, GOOGL, LLY |
| Q2 2024 | 642 | $16.4B | MSFT, NVDA, AAPL, GOOGL, LLY |
| Q1 2024 | 647 | $15.5B | MSFT, AAPL, NVDA, GOOGL, MRK |