Credit Industriel Et Commercial

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Credit Industriel Et Commercial reported 201 stock positions worth $442.9 million. Its top holding was Alphabet Class C (GOOG) at 10.4% of the portfolio, followed by Amazon.com (AMZN, 4.8%) and Fox Class B (FOX, 3.6%). Compared with Q2 2025, it opened 49 new positions, sold out of 63, added to 36 and reduced 89. The biggest buy was a new position in Verona Pharma (VRNA) and the biggest sale an exit from Blueprint Medicines (BPMC).

Most Recent 13F
Q2 2026
Location
PARIS FRANCE, I0
CIK
0001274419
Portfolio Value
$442.9M (Q3 2025)
SEC Filing
0001274419-25-000023 ↗ filed Nov 7, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q4 2024: $280.4M Q4 2024 Q1 2025: $442.3M Q1 2025 Q2 2025: $465.2M Q2 2025 Q3 2025: $442.9M $442.9M Q3 2025 Q4 2025: $436.1M Q4 2025 Q1 2026: $567.8M Q1 2026 Q2 2026: $545.4M Q2 2026

Holdings 201 stocks · $442.9M
GOOG Alphabet Inc. Class C 10.35% 188,230 $45.8M Add +2.0%
AMZN Amazon.com Inc. 4.79% 96,684 $21.2M No change
FOX Fox Corp. Class B 3.58% 276,443 $15.8M Add +53.3%
VRNA Verona Pharma Ltd. 3.31% 137,552 $14.7M New
DB Deutsche Bank AG-Registered 2.80% 353,240 $12.4M Add +8344.7%
CUK Carnival PLC-ADR 2.72% 455,041 $12.0M No change
IPG Interpublic Group of Cos Inc. 2.52% 399,260 $11.1M New
BEP Brookfield Renewable Partner 2.42% 416,093 $10.7M Add +50.5%
ETNB 89BIO Inc. 1.99% 600,000 $8.8M New
XLE SS Energy Select Sector 1.98% 98,317 $8.8M Reduce -28.6%
ALE Allete Inc. 1.93% 128,769 $8.6M Reduce -19.0%
MRUS Merus NV 1.91% 90,000 $8.5M New
SPNS Sapiens International Corp. 1.72% 177,135 $7.6M New
UAA Under Armour Inc. Class A 1.71% 1,517,445 $7.6M Add +197.8%
RYAAY Ryanair Holdings PLC-SP ADR 1.69% 124,600 $7.5M Reduce -40.7%
SAND Sandstorm Gold Ltd. 1.56% 553,194 $6.9M New
FYBR Frontier Communications Pare 1.56% 184,666 $6.9M Reduce -48.0%
ALC Alcon Inc. filed as ALCON AG 1.54% 91,984 $6.8M Add +62.1%
LBTYK Liberty Global Ltd. Class C 1.44% 542,958 $6.4M No change
PRA Proassurance Corp. 1.37% 252,275 $6.1M Reduce -24.2%
CYBR Cyberark Software Ltd./Israel 1.35% 12,361 $6.0M New
TXNM TXNM Energy Inc. 1.34% 105,000 $5.9M Add +775.0%
BIP Brookfield Infrastructure Pa 1.30% 174,940 $5.8M Add +582.7%
DAY Dayforce Inc. 1.12% 72,000 $5.0M New
BBU Brookfield Business PT-Unit 1.11% 150,405 $4.9M New
UHAL.B U-Haul Holding Co.-Non Voting 1.07% 82,750 $4.7M Reduce -26.3%
NWSA News Corp. Class A 1.01% 146,001 $4.5M Reduce -66.3%
FWONA Liberty Media Corp. Class A 1.00% 46,411 $4.4M Add +35.4%
HEI.A Heico Corp. Class A 0.96% 16,666 $4.2M No change
LBRDA Liberty Broadband-A 0.95% 66,372 $4.2M No change
GRFS Grifols SA-ADR 0.81% 361,455 $3.6M Reduce -0.1%
XLK SS Technology Select Sector 0.78% 12,245 $3.5M New
IWM iShares Russell 2000 ETF 0.77% 14,178 $3.4M Add +151.3%
K Kellanova 0.76% 41,100 $3.4M Add +6750.0%
WNS WNS Holdings Ltd. filed as WNS HLDGS LTD 0.74% 43,082 $3.3M New
STAA Staar Surgical Co. 0.74% 121,258 $3.3M New
PRO Pros Holdings Inc. 0.70% 135,000 $3.1M New
GHLD Guild Holdings Co. Class A 0.68% 150,000 $3.0M Add +87.5%
VRNT Verint Systems Inc. 0.66% 144,538 $2.9M New
XOP SS SPDR S&P Og Exp & Prod 0.61% 20,502 $2.7M Reduce -18.9%
AMWD American Woodmark Corp. 0.60% 40,000 $2.7M New
PREMIER INC-CLASS A 0.56% 90,000 $2.5M New
AAPL Apple Inc. 0.56% 9,748 $2.5M Reduce -69.5%
XBI SS SPDR S&P Biotech ETF 0.54% 23,904 $2.4M Reduce -52.9%
SRG Seritage Growth Prop- A 0.54% 561,648 $2.4M No change
NOW ServiceNow Inc. 0.53% 2,560 $2.4M Add +423.5%
ROIV Roivant Sciences Ltd. 0.53% 155,000 $2.3M No change
LION Lionsgate Studios Corp. 0.52% 332,625 $2.3M Add +45.4%
VMEO Vimeo Inc. 0.50% 287,223 $2.2M New
UBS UBS Group AG-Reg 0.50% 53,878 $2.2M Reduce -63.4%
SWK Stanley Black & Decker Inc. 0.49% 29,473 $2.2M Reduce -6.7%
BMRN Biomarin Pharmaceutical Inc. 0.49% 40,013 $2.2M No change
GES Guess? Inc. 0.45% 118,288 $2.0M Add +150.0%
PGRE Paramount Group Inc. 0.44% 299,942 $2.0M New
DE Deere & Co. 0.43% 4,177 $1.9M Add +64.5%
HONE Harborone Bancorp Inc. 0.41% 131,984 $1.8M Reduce -60.2%
ELME Elme Communities 0.38% 100,000 $1.7M New
ADP Automatic Data Processing 0.37% 5,635 $1.7M Add +24.8%
MAC COPPER LTD 0.37% 134,000 $1.6M Reduce -30.6%
GTLS Chart Industries Inc. 0.36% 8,000 $1.6M New
PPG PPG Industries Inc. 0.35% 14,802 $1.6M Add +74.5%
TASK Taskus Inc. Class A 0.35% 86,356 $1.5M No change
HAL Halliburton Co. 0.35% 62,211 $1.5M Reduce -26.3%
SRDX Surmodics Inc. 0.35% 51,200 $1.5M Reduce -13.5%
LNSR Lensar Inc. 0.34% 123,483 $1.5M Reduce -26.8%
AVDX Avidxchange Holdings Inc. 0.34% 150,000 $1.5M No change
STLA Stellantis NV 0.34% 160,841 $1.5M Add +14.9%
ABT Abbott Laboratories 0.33% 11,000 $1.5M New
SMH Vaneck Semiconductor ETF 0.33% 4,503 $1.5M Reduce -63.6%
LEN Lennar Corp. Class A 0.33% 11,477 $1.4M No change
AHL Aspen Insurance Holdings Class A 0.32% 38,936 $1.4M New
TRML Tourmaline Bio Inc. 0.32% 29,661 $1.4M New
SYK Stryker Corp. 0.32% 3,815 $1.4M Add +60.6%
SGML Sigma Lithium Corp. 0.32% 219,748 $1.4M Reduce -12.1%
SIRI Sirius XM Holdings Inc. 0.32% 60,385 $1.4M No change
WBD Warner Bros Discovery Inc. 0.31% 70,000 $1.4M Reduce -36.4%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.30% 13,053 $1.3M Reduce -12.9%
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.29% 20,000 $1.3M New
BSX Boston Scientific Corp. 0.28% 12,829 $1.3M Add +76.8%
STLD Steel Dynamics Inc. 0.28% 8,879 $1.2M Add +44.2%
KRE SS SPDR S&P Regional Bank 0.28% 19,393 $1.2M Reduce -28.9%
SHCO Soho House & Co. Inc. 0.28% 137,983 $1.2M Reduce -12.1%
MLNK Meridianlink Inc. 0.26% 58,800 $1.2M New
CCRN Cross Country Healthcare Inc. 0.26% 81,106 $1.2M Reduce -39.1%
BKNG Booking Holdings Inc. 0.26% 213 $1.2M Add +353.2%
PFE Pfizer Inc. 0.26% 45,109 $1.1M New
ALL Allstate Corp. 0.26% 5,265 $1.1M Reduce -23.4%
ODP The Odp Corp. filed as THE ODP CORP 0.25% 40,181 $1.1M New
BIRK Birkenstock Holding PLC 0.25% 24,688 $1.1M Add +77.3%
WFC Wells Fargo & Co. 0.25% 13,305 $1.1M Reduce -35.6%
LOGI Logitech International-Reg 0.25% 10,150 $1.1M Reduce -63.1%
PBPB Potbelly Corp. 0.24% 61,403 $1.0M New
EWZ iShares MSCI Brazil ETF 0.23% 33,028 $1.0M Reduce -58.8%
AIG American International Group 0.23% 12,817 $1.0M Reduce -42.5%
IMXI International Money Express 0.23% 72,000 $1.0M New
EEM iShares MSCI Emerging Market 0.22% 18,589 $993K Add +152.8%
ALMS Alumis Inc. 0.22% 247,002 $986K Reduce -36.2%
INBX Inhibrx Biosciences Inc. 0.22% 28,958 $975K Reduce -54.9%
CIO City Office REIT Inc. 0.21% 135,144 $941K New
XLY SS Consumer Disc Select Sect 0.21% 3,827 $917K Reduce -79.3%
SCPH Scpharmaceuticals Inc. 0.20% 160,000 $907K New
MET Metlife Inc. 0.20% 10,567 $870K New
EPD Enterprise Products Partners 0.19% 26,705 $835K No change
PHLT Performant Healthcare Inc. 0.19% 108,000 $835K New
CMCSA Comcast Corp. Class A 0.18% 25,756 $809K Reduce -33.0%
SNPS Synopsys Inc. 0.18% 1,636 $807K New
SCS Steelcase Inc. Class A 0.18% 45,323 $780K New
WOW Wideopenwest Inc. 0.17% 145,187 $749K New
PAYX Paychex Inc. 0.17% 5,867 $744K Add +1.3%
MGM MGM Resorts International 0.17% 21,119 $732K Reduce -13.0%
SOXX iShares Semiconductor ETF 0.16% 2,618 $710K Reduce -44.9%
AQN Algonquin Power & Utilities 0.16% 130,000 $698K No change
F Ford Motor Co. filed as FORD MTR CO 0.16% 57,475 $687K Reduce -72.8%
SQNS Sequans Communications-ADR 0.15% 70,000 $662K Add +17.0%
HBI Hanesbrands Inc. 0.15% 100,000 $659K New
CSX CSX Corp. 0.15% 18,397 $653K Reduce -46.9%
MELI MercadoLibre Inc. 0.14% 274 $640K Reduce -4.2%
MAR Marriott International Class A 0.14% 2,446 $637K Reduce -3.9%
RF Regions Financial Corp. 0.14% 23,380 $617K Reduce -38.3%
HD Home Depot Inc. 0.14% 1,520 $616K Reduce -43.2%
SYY Sysco Corp. 0.14% 7,317 $602K New
AXON Axon Enterprise Inc. 0.13% 832 $597K Add +65.1%
CDNS Cadence Design SYS Inc. 0.13% 1,627 $572K Reduce -59.3%
TT Trane Technologies PLC 0.13% 1,330 $561K New
HRB H&R Block Inc. filed as BLOCK H & R INC 0.12% 10,604 $536K Add +11.7%
INTU Intuit Inc. 0.12% 775 $529K Add +42.7%
INFA Informatica Inc. Class A 0.12% 20,935 $520K New
PDD PDD Holdings Inc. 0.11% 3,852 $509K Reduce -37.3%
MDT Medtronic PLC 0.11% 5,292 $504K Reduce -71.1%
FITB Fifth Third Bancorp 0.11% 11,181 $498K Reduce -63.6%
CAT Caterpillar Inc. 0.11% 1,025 $489K Reduce -70.4%
RNW Renew Energy Global PLC-A 0.11% 62,503 $481K Reduce -45.4%
ITRG Integra Resources Corp. 0.11% 159,842 $466K Reduce -60.5%
IP International Paper Co. 0.10% 9,696 $450K Add +16.0%
KMX Carmax Inc. 0.10% 10,001 $449K Add +24.1%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.10% 4,992 $448K Reduce -27.9%
CTSH Cognizant Tech Solutions-A 0.10% 6,665 $447K Reduce -75.9%
JNJ Johnson & Johnson 0.09% 2,261 $419K New
CB Chubb Ltd. 0.09% 1,483 $419K New
YUM Yum! Brands Inc. 0.09% 2,705 $411K Reduce -35.5%
ZIMV Zimvie Inc. 0.09% 21,636 $410K New
GM General Motors Co. 0.09% 6,685 $408K Reduce -85.4%
M Macy's Inc. 0.09% 21,000 $377K No change
TSN Tyson Foods Inc. Class A 0.08% 6,500 $353K No change
COF Capital One Financial Corp. 0.08% 1,592 $338K Reduce -38.5%
KLAC KLA Corp. 0.07% 291 $314K Reduce -59.6%
SWKS Skyworks Solutions Inc. 0.07% 4,008 $309K Reduce -24.9%
NVDA Nvidia Corp. 0.07% 1,632 $304K Reduce -80.7%
BHC Bausch Health Cos Inc. 0.07% 46,797 $302K No change
LAR Lithium Argentina AG 0.07% 90,000 $301K No change
MA Mastercard Inc. Class A 0.07% 521 $296K Reduce -23.3%
CMI Cummins Inc. 0.06% 678 $286K Reduce -76.6%
MOS The Mosaic Co. 0.06% 8,019 $278K Reduce -44.6%
META Meta Platforms Inc. Class A 0.06% 372 $273K Reduce -61.6%
ESI Element Solutions Inc. 0.06% 10,709 $270K No change
ADI Analog Devices Inc. 0.06% 1,079 $265K Reduce -37.0%
IJR iShares Core S&P Small-Cap E 0.06% 2,189 $260K Reduce -57.5%
CTLP Cantaloupe Inc. 0.05% 22,480 $238K Reduce -78.1%
KWEB Kranesh Csi China Internet 0.05% 5,607 $236K Reduce -86.5%
XLB SS Materials Select Sector 0.05% 2,599 $233K Reduce -45.5%
GAP The Gap Inc. 0.05% 10,676 $228K Reduce -60.2%
MAS Masco Corp. 0.05% 3,242 $228K Reduce -29.6%
FXI iShares China Large-Cap ETF 0.05% 4,919 $202K Reduce -89.3%
AZO AutoZone Inc. 0.05% 47 $202K Reduce -73.5%
UBER Uber Technologies Inc. 0.04% 2,008 $197K Reduce -71.8%
AAL American Airlines Group Inc. 0.04% 17,084 $192K Reduce -21.0%
AMD Advanced Micro Devices 0.04% 1,186 $192K Reduce -76.9%
EMN Eastman Chemical Co. 0.04% 3,000 $189K No change
RSP Invesco S&P 500 Equal Weight 0.04% 978 $186K Reduce -57.3%
ITB iShares U.S. Home Constructi 0.04% 1,663 $178K Reduce -70.7%
ACI Albertsons Cos Inc. Class A 0.04% 10,000 $175K No change
TTEC Ttec Holdings Inc. filed as TTEC HLDGS INC 0.04% 49,580 $167K No change
ZION Zions Bancorp NA 0.04% 2,910 $165K New
ADSK Autodesk Inc. 0.04% 501 $159K Reduce -57.3%
ZS Zscaler Inc. 0.02% 363 $109K Reduce -23.4%
LI Li Auto Inc. - ADR 0.02% 3,986 $101K Add +26.7%
NBIS Nebius Group NV 0.02% 863 $97K Reduce -73.0%
FER Ferrovial NV 0.02% 1,260 $72K New
STT State Street Corp. 0.02% 600 $70K Reduce -81.6%
CMA Comerica Inc. 0.01% 944 $65K Reduce -85.9%
XME SS SPDR S&P Metals Mining 0.01% 689 $64K Reduce -86.9%
S Sentinelone Inc. Class A 0.01% 3,000 $53K No change
RMBS Rambus Inc. 0.01% 505 $53K New
PATH Uipath Inc. Class A 0.01% 3,044 $41K Add +13.1%
ACN Accenture PLC Class A 0.01% 159 $39K Add +91.6%
FCX Freeport-McMoran Inc. 0.01% 906 $36K Add +160.3%
LWAY Lifeway Foods Inc. 0.01% 1,272 $35K Reduce -90.4%
TSM Taiwan Semiconductor-SP ADR 0.01% 124 $35K Reduce -92.9%
LAMR Lamar Advertising Co. Class A 0.01% 248 $30K Reduce -16.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 171 $25K Reduce -73.1%
KBE SS SPDR S&P Bank ETF 0.00% 363 $22K Reduce -90.6%
CFLT Confluent Inc. Class A 0.00% 1,000 $20K No change
CHR Cheer Holding Inc. Class A 0.00% 26,966 $18K No change
ZEO Zeo Energy Corp. 0.00% 10,845 $15K New
TKNO Alpha Teknova Inc. 0.00% 2,000 $12K No change
ROST Ross Stores Inc. 0.00% 72 $11K New
PLYM Plymouth Industrial REIT Inc. 0.00% 400 $9K New
SNOW Snowflake Inc. 0.00% 39 $9K Reduce -93.3%
XYZ Block Inc. 0.00% 78 $6K Reduce -99.2%
BX Blackstone Inc. 0.00% 17 $3K Reduce -61.4%
THCH TH International Ltd./Cayman 0.00% 856 $2K No change

Options reported separately and not counted above: XLE puts ($46.6M), SMH puts ($27.9M), IWM puts ($26.6M), FXI puts ($26.0M), SOXX puts ($18.8M), QQQ puts ($18.0M), XBI puts ($14.0M), NVDA puts ($13.0M), XLY puts ($13.0M), AAPL puts ($12.8M), XLK puts ($12.5M), EWZ puts ($12.4M), and 121 more.

Other holdings (17): bonds, preferreds, convertibles and warrants · $184.4M (not counted above)
SecurityClassShares / PrincipalValueChange
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 550,000$37.0MNo change
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD 625,000$31.0MNo change
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D 480,000$25.4MAdd +108.7%
AIRBNB INC (ABNB 0 03/15/26) NOTE 3/1 · principal 23,000,000$22.4MNo change
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 275,000$13.8MNo change
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A 275,000$10.9MNo change
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 225,000$8.7MNo change
JD.COM INC (JD 0.25 06/01/29) NOTE 0.250% 6/0 · principal 6,500,000$6.9MNo change
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 6,627,000$6.1MNo change
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 5,000,000$4.7MAdd +66.7%
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 2,500,000$4.6MNo change
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) NOTE 0.750% 6/0 · principal 4,000,000$3.8MNo change
ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal 4,000,000$3.5MNo change
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal 2,000,000$2.6MNo change
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) NOTE 3.250%12/1 · principal 2,500,000$2.4MNo change
TRIPADVISOR INC (TRIP 0.25 04/01/26) NOTE 0.250% 4/0 · principal 600,000$584KNo change
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 11,820$82KNo change

Total filed on the 13F, all lines: $627.3M.

Portfolio Sells Q2 2025 → Q3 2025
BPMC Blueprint Medicines Corp. Sold out 0.00% −3.33
MAG Mag Silver Corp. Sold out 0.00% −3.26
COOP Mr Cooper Group Inc. Sold out 0.00% −3.19
SWTX Springworks Therapeutics Inc. Sold out 0.00% −2.45
DNB Dun & Bradstreet Holdings Inc. Sold out 0.00% −1.97
JNPR Juniper Networks Inc. Sold out 0.00% −1.87
NWSA News Corp. Class A Reduce -66.3% 1.01% −1.75
ANSS Ansys Inc. Sold out 0.00% −1.57
FYBR Frontier Communications Pare Reduce -48.0% 1.56% −1.22
SGRY Surgery Partners Inc. Sold out 0.00% −1.17
ESGR Enstar Group Ltd. Sold out 0.00% −0.92
RYAAY Ryanair Holdings PLC-SP ADR Reduce -40.7% 1.69% −0.91
AAPL Apple Inc. Reduce -69.5% 0.56% −0.85
EVRI Everi Holdings Inc. Sold out 0.00% −0.84
BASE Couchbase Inc. Sold out 0.00% −0.73
ETWO E2OPEN Parent Holdings Inc. Sold out 0.00% −0.68
XLY SS Consumer Disc Select Sect Reduce -79.3% 0.21% −0.66
SSBK Southern States Bancshares Sold out 0.00% −0.62
UBS UBS Group AG-Reg Reduce -63.4% 0.50% −0.57
GB Global Blue Group Holding AG Sold out 0.00% −0.56
RDFN Redfin Corp. Sold out 0.00% −0.54
XLE SS Energy Select Sector Reduce -28.6% 1.98% −0.53
SKX Skechers USA Inc. Class A Sold out 0.00% −0.52
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.50
BLKB Blackbaud Inc. Sold out 0.00% −0.46
HONE Harborone Bancorp Inc. Reduce -60.2% 0.41% −0.43
SMH Vaneck Semiconductor ETF Reduce -63.6% 0.33% −0.41
GM General Motors Co. Reduce -85.4% 0.09% −0.39
ICAD Icad Inc. Sold out 0.00% −0.37
XBI SS SPDR S&P Biotech ETF Reduce -52.9% 0.54% −0.36
CTSH Cognizant Tech Solutions-A Reduce -75.9% 0.10% −0.36
F Ford Motor Co. Reduce -72.8% 0.16% −0.34
AGS Playags Inc. Sold out 0.00% −0.32
FXI iShares China Large-Cap ETF Reduce -89.3% 0.05% −0.32
FL Foot Locker Inc. Sold out 0.00% −0.32
LOW Lowe's Cos Inc. Sold out 0.00% −0.30
RACE Ferrari NV Sold out 0.00% −0.29
LOGI Logitech International-Reg Reduce -63.1% 0.25% −0.28
PARAA Paramount Global Class B Sold out 0.00% −0.28
PRA Proassurance Corp. Reduce -24.2% 1.37% −0.27
EWZ iShares MSCI Brazil ETF Reduce -58.8% 0.23% −0.27
SATX Satixfy Communications Ltd. Sold out 0.00% −0.26
ALE Allete Inc. Reduce -19.0% 1.93% −0.26
LIN Linde PLC Sold out 0.00% −0.25
KWEB Kranesh Csi China Internet Reduce -86.5% 0.05% −0.25
UHAL.B U-Haul Holding Co.-Non Voting Reduce -26.3% 1.07% −0.25
GNRC Generac Holdings Inc. Sold out 0.00% −0.25
SNA Snap-on Inc. Sold out 0.00% −0.24
MDT Medtronic PLC Reduce -71.1% 0.11% −0.23
NVDA Nvidia Corp. Reduce -80.7% 0.07% −0.22

Portfolio Buys Q2 2025 → Q3 2025
VRNA Verona Pharma Ltd. New 3.31% +3.31
GOOG Alphabet Inc. Class C Add +2.0% 10.35% +3.31
DB Deutsche Bank AG-Registered Add +8344.7% 2.80% +2.78
IPG Interpublic Group of Cos Inc. New 2.52% +2.52
ETNB 89BIO Inc. New 1.99% +1.99
MRUS Merus NV New 1.91% +1.91
SPNS Sapiens International Corp. New 1.72% +1.72
FOX Fox Corp. Class B Add +53.3% 3.58% +1.57
SAND Sandstorm Gold Ltd. New 1.56% +1.56
CYBR Cyberark Software Ltd./Israel New 1.35% +1.35
TXNM TXNM Energy Inc. Add +775.0% 1.34% +1.20
DAY Dayforce Inc. New 1.12% +1.12
BIP Brookfield Infrastructure Pa Add +582.7% 1.30% +1.11
BBU Brookfield Business PT-Unit New 1.11% +1.11
UAA Under Armour Inc. Class A Add +197.8% 1.71% +0.96
BEP Brookfield Renewable Partner Add +50.5% 2.42% +0.91
XLK SS Technology Select Sector New 0.78% +0.78
K Kellanova Add +6750.0% 0.76% +0.75
WNS WNS Holdings Ltd. New 0.74% +0.74
STAA Staar Surgical Co. New 0.74% +0.74
PRO Pros Holdings Inc. New 0.70% +0.70
VRNT Verint Systems Inc. New 0.66% +0.66
AMWD American Woodmark Corp. New 0.60% +0.60
PREMIER INC-CLASS A New 0.56% +0.56
IWM iShares Russell 2000 ETF Add +151.3% 0.77% +0.51
VMEO Vimeo Inc. New 0.50% +0.50
ALC Alcon Inc. Add +62.1% 1.54% +0.47
PGRE Paramount Group Inc. New 0.44% +0.44
NOW ServiceNow Inc. Add +423.5% 0.53% +0.42
ELME Elme Communities New 0.38% +0.38
GTLS Chart Industries Inc. New 0.36% +0.36
GHLD Guild Holdings Co. Class A Add +87.5% 0.68% +0.34
ABT Abbott Laboratories New 0.33% +0.33
GES Guess? Inc. Add +150.0% 0.45% +0.32
AHL Aspen Insurance Holdings Class A New 0.32% +0.32
TRML Tourmaline Bio Inc. New 0.32% +0.32
FWONA Liberty Media Corp. Class A Add +35.4% 1.00% +0.30
AL Sumisho Air Lease Corp. New 0.29% +0.29
MLNK Meridianlink Inc. New 0.26% +0.26
PFE Pfizer Inc. New 0.26% +0.26
ODP The Odp Corp. New 0.25% +0.25
PBPB Potbelly Corp. New 0.24% +0.24
LION Lionsgate Studios Corp. Add +45.4% 0.52% +0.23
IMXI International Money Express New 0.23% +0.23
CIO City Office REIT Inc. New 0.21% +0.21
SCPH Scpharmaceuticals Inc. New 0.20% +0.20
BKNG Booking Holdings Inc. Add +353.2% 0.26% +0.20
MET Metlife Inc. New 0.20% +0.20
PHLT Performant Healthcare Inc. New 0.19% +0.19
SNPS Synopsys Inc. New 0.18% +0.18

Options Activity Q2 2025 → Q3 2025
XLE SS Energy Select Sector put Add +10.6% 522,100 $46.6M
IWM iShares Russell 2000 ETF put Add +144.4% 110,000 $26.6M
SOXX iShares Semiconductor ETF put Add +27.5% 69,500 $18.8M
QQQ Invesco QQQ Trust Series 1 put Reduce -25.0% 30,000 $18.0M
XLY SS Consumer Disc Select Sect put Reduce -37.1% 54,200 $13.0M
AAPL Apple Inc. put Reduce -13.7% 50,300 $12.8M
XLK SS Technology Select Sector put New 44,500 $12.5M
MSFT Microsoft Corp. put Reduce -20.0% 20,000 $10.4M
ALC Alcon Inc. put Reduce -11.9% 125,000 $9.3M
CAT Caterpillar Inc. put Reduce -12.1% 18,900 $9.0M
F Ford Motor Co. put Add +0.5% 704,100 $8.4M
EEM iShares MSCI Emerging Market put Add +200.0% 150,000 $8.0M
DE Deere & Co. put Add +1.4% 14,200 $6.5M
KWEB Kranesh Csi China Internet put Reduce -34.8% 150,000 $6.3M
WFC Wells Fargo & Co. put Reduce -17.1% 72,500 $6.1M
NOW ServiceNow Inc. put Add +164.0% 6,600 $6.1M
UBER Uber Technologies Inc. put Reduce -1.8% 56,200 $5.5M
BKNG Booking Holdings Inc. put Add +100.0% 1,000 $5.4M
META Meta Platforms Inc. Class A put Reduce -29.1% 7,300 $5.4M
GM General Motors Co. put Reduce -36.7% 86,400 $5.3M
STLD Steel Dynamics Inc. put Add +65.1% 35,000 $4.9M
KVUE Kenvue Inc. call New 300,000 $4.9M
PZZA Papa John's Intl Inc. call New 100,000 $4.8M
PDD PDD Holdings Inc. put Add +49.5% 30,200 $4.0M
MOS The Mosaic Co. put Reduce -40.5% 110,000 $3.8M
AIG American International Group put Reduce -35.2% 46,100 $3.6M
LIN Linde PLC put Sold out 7,100 $3.3Mbefore exit
RBLX Roblox Corp. Class A put Sold out 30,000 $3.2Mbefore exit
PFE Pfizer Inc. put Add +800.0% 112,500 $2.9M
EBAY eBay Inc. put Reduce -0.7% 30,000 $2.7M
ABT Abbott Laboratories put New 20,000 $2.7M
ADI Analog Devices Inc. put Add +4.0% 10,400 $2.6M
MET Metlife Inc. put New 30,000 $2.5M
GNRC Generac Holdings Inc. put Sold out 16,400 $2.3Mbefore exit
USB US Bancorp put Sold out 50,000 $2.3Mbefore exit
HXL Hexcel Corp. put Sold out 40,000 $2.3Mbefore exit
FITB Fifth Third Bancorp put Reduce -16.7% 50,000 $2.2M
TT Trane Technologies PLC put New 5,000 $2.1M
SYY Sysco Corp. put New 24,000 $2.0M
SCHW Schwab (charles) Corp. put Sold out 20,000 $1.8Mbefore exit
DB Deutsche Bank AG-Registered put Sold out 59,000 $1.7Mbefore exit
STT State Street Corp. put Reduce -32.4% 15,000 $1.7M
JPM JPMorgan Chase & Co. put Reduce -21.4% 5,500 $1.7M
ABNB Airbnb Inc. Class A put Sold out 12,500 $1.7Mbefore exit
ARM Arm Holdings PLC-ADR put Sold out 10,000 $1.6Mbefore exit
CMCSA Comcast Corp. Class A put Reduce -54.5% 50,000 $1.6M
RMBS Rambus Inc. put New 15,000 $1.6M
SNA Snap-on Inc. put Sold out 5,000 $1.6Mbefore exit
ZS Zscaler Inc. put Reduce -50.0% 5,000 $1.5M
CB Chubb Ltd. put New 4,700 $1.3M

Showing the first 50 of 85.

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

Notes & Other Activity Q2 2025 → Q3 2025
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D Add +108.7% 480,000 $25.4M
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal Add +66.7% 5,000,000 $4.7M
NEXTERA ENERGY INC (NEE 6.926 09/01/25) UNIT 09/01/2025 Sold out 40,000 $1.6Mbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 190$545.4MJHG, PEN, RYAAY, WBD, GOOG
Q1 2026 202$567.8MGOOG, CUK, ACLX, HOLX, FOX
Q4 2025 198$436.1MGOOG, FOX, RYAAY, AMZN, RNAM
Q3 2025 201$442.9MGOOG, AMZN, FOX, VRNA, DB
Q2 2025Amended 215$465.2MGOOG, AMZN, BPMC, MAG, COOP
Q1 2025 203$442.3MGOOGL, ITCI, AMZN, DFS, PLYA
Q4 2024Amended 165$280.4MEWZ, GOOG, CUK, LBTYA, EDR