CSS LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 18, 2025), CSS LLC reported 462 stock positions worth $534.5 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 7.0% of the portfolio, followed by Macom Technology Solutions H (MTSI, 5.5%) and Invesco S&P 500 Equal Weight (RSP, 3.2%). Compared with Q3 2024, it opened 139 new positions, sold out of 97, added to 146 and reduced 125. The biggest buy was a new position in Macom Technology Solutions H (MTSI) and the biggest sale Carnival (CCL, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001103646
- Portfolio Value
- $534.5M (Q4 2024)
- SEC Filing
- 0001085146-25-001728 ↗ filed Feb 18, 2025
Holdings Value
Holdings 462 stocks · $534.5M
| VOO Vanguard S&P 500 ETF | 7.00% | 69,450 | $37.4M | Add +0.7% |
| MTSI Macom Technology Solutions H | 5.52% | 226,997 | $29.5M | New |
| RSP Invesco S&P 500 Equal Weight | 3.23% | 98,412 | $17.2M | Add +29.0% |
| STEW SRH Total Return Fund Inc. | 2.00% | 666,055 | $10.7M | Add +0.7% |
| IAU iShares Gold Trust | 1.62% | 174,370 | $8.6M | Add +1.7% |
| ALDF Aldel Financial II Inc. | 1.50% | 805,620 | $8.0M | New |
| CCIR Cohen Circle Acquisitio Class A | 1.23% | 657,334 | $6.6M | New |
| NTWO Newbury Street II Ac Class A | 1.20% | 640,900 | $6.4M | New |
| SMR Nuscale Power Corp. | 0.98% | 291,302 | $5.2M | New |
| SOFI Sofi Technologies Inc. | 0.97% | 338,213 | $5.2M | Add +8355.3% |
| SHEL Shell PLC-ADR | 0.97% | 83,049 | $5.2M | Add +93.0% |
| DVN Devon Energy Corp. | 0.96% | 157,449 | $5.2M | Add +145.9% |
| GEAR Revelyst Inc. | 0.94% | 261,397 | $5.0M | Add +3413.9% |
| OVV Ovintiv Inc. | 0.91% | 119,441 | $4.8M | Add +9.7% |
| LPBB Launch Two Acquisition Class A | 0.89% | 478,721 | $4.8M | New |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | 0.88% | 178,784 | $4.7M | Add +17.0% |
| IBIT iShares Bitcoin Trust ETF | 0.77% | 77,590 | $4.1M | Add +21.2% |
| CIVI Civitas Resources Inc. | 0.76% | 88,880 | $4.1M | Add +107.9% |
| TDACU Translational Development Ac | 0.75% | 400,000 | $4.0M | New |
| NCLH Norwegian Cruise Line Holdin | 0.66% | 137,083 | $3.5M | New |
| MXE Mexico Equity and Income FD | 0.66% | 439,243 | $3.5M | No change |
| BP BP PLC-Spons ADR | 0.64% | 116,257 | $3.4M | Reduce -17.1% |
| TPZ Tort Electf Infra ETF-Usd Inc. filed as TORTOISE CAPITAL SERIES TRUS | 0.64% | 170,928 | $3.4M | New |
| CVE Cenovus Energy Inc. | 0.64% | 225,690 | $3.4M | Add +17.4% |
| PEO Adams Natural Resources Fund | 0.63% | 155,687 | $3.4M | Reduce -20.2% |
| GLD SPDR Gold Shares | 0.61% | 13,500 | $3.3M | Reduce -8.7% |
| SSB Southstate Bank Corp. | 0.58% | 30,968 | $3.1M | New |
| VST Vistra Corp. | 0.57% | 22,000 | $3.0M | Reduce -18.8% |
| AVUV Avantis US Small Cap Value | 0.56% | 31,100 | $3.0M | Reduce -16.2% |
| SPE Special Opportunities Fund | 0.56% | 202,802 | $3.0M | Reduce -21.5% |
| MUR Murphy Oil Corp. | 0.55% | 96,339 | $2.9M | Reduce -12.9% |
| XLE SS Energy Select Sector | 0.54% | 33,410 | $2.9M | Add +1754.0% |
| LLYVA Liberty Media Corp.-Liberty-A | 0.52% | 41,755 | $2.8M | Add +0.2% |
| AVES Avantis Emerging Markets Val | 0.52% | 59,803 | $2.8M | No change |
| AAOI Applied Optoelectronics Inc. | 0.51% | 73,590 | $2.7M | New |
| CHRD Chord Energy Corp. | 0.46% | 21,157 | $2.5M | Add +30.9% |
| ARKK ARK Innovation ETF | 0.46% | 43,320 | $2.5M | New |
| GOOGL Alphabet Inc. Class A | 0.46% | 12,977 | $2.5M | Reduce -2.0% |
| XRSFX Rivernorth Capital & Income | 0.46% | 157,788 | $2.4M | Reduce -7.2% |
| BERY Berry Global Group Inc. | 0.45% | 37,260 | $2.4M | Add +139.4% |
| EVBN Evans Bancorp Inc. | 0.45% | 55,306 | $2.4M | Add +148.4% |
| HCP Hashicorp Inc. Class A | 0.44% | 69,512 | $2.4M | Add +7.1% |
| HES Hess Corp. | 0.44% | 17,500 | $2.3M | No change |
| DBC Invesco DB Commodity Index T | 0.43% | 106,322 | $2.3M | Add +116.5% |
| TTE Totalenergies SE -Spon ADR | 0.41% | 40,175 | $2.2M | Add +162.4% |
| SWZ Total Return Securities Fund | 0.41% | 290,275 | $2.2M | No change |
| HTLF Heartland Financial USA Inc. | 0.40% | 34,715 | $2.1M | Reduce -26.0% |
| AMLP Alerian MLP ETF | 0.40% | 43,854 | $2.1M | Add +297.6% |
| CTA Simplify Managed Futures St | 0.39% | 74,764 | $2.1M | Add +83.6% |
| BRW Saba Capital Income & Opport | 0.39% | 273,279 | $2.1M | Reduce -2.5% |
| EWJV iShares MSCI Japan Value ETF | 0.38% | 65,581 | $2.1M | Add +23.3% |
| ZTR Virtus Total Return Fund Inc. | 0.38% | 346,748 | $2.0M | Add +11.7% |
| GAM General American Investors | 0.37% | 39,041 | $2.0M | No change |
| PARAA Paramount Global Class B | 0.37% | 188,900 | $2.0M | Reduce -1.1% |
| PR Permian Resources Corp. Class A | 0.37% | 136,377 | $2.0M | New |
| CET Central Securities Corp. | 0.36% | 42,607 | $1.9M | No change |
| C Citigroup Inc. | 0.36% | 27,506 | $1.9M | Add +1.0% |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | 0.36% | 49,394 | $1.9M | Add +1.5% |
| EXPE Expedia Group Inc. | 0.35% | 10,180 | $1.9M | Reduce -3.0% |
| T AT&T Inc. | 0.35% | 81,048 | $1.8M | No change |
| JNJ Johnson & Johnson | 0.34% | 12,627 | $1.8M | Add +20.9% |
| BMY Bristol-Myers Squibb Co. | 0.34% | 31,940 | $1.8M | Add +19.9% |
| TAP Molson Coors Beverage Co. Class B | 0.33% | 30,847 | $1.8M | Add +34.1% |
| COP Conocophillips | 0.33% | 17,787 | $1.8M | Add +146.5% |
| FANG Diamondback Energy Inc. | 0.33% | 10,650 | $1.7M | New |
| GILD Gilead Sciences Inc. | 0.32% | 18,751 | $1.7M | Reduce -2.6% |
| HPE Hewlett Packard Enterprise | 0.32% | 80,874 | $1.7M | Add +1.3% |
| SYF Synchrony Financial | 0.32% | 26,120 | $1.7M | Reduce -15.2% |
| FFNW First Financial Northwest | 0.31% | 76,824 | $1.7M | Add +10.3% |
| XHB SS SPDR S&P Homebldrs ETF | 0.31% | 15,850 | $1.7M | New |
| KR Kroger Co. | 0.31% | 26,882 | $1.6M | Reduce -3.1% |
| DELL Dell Technologies -C | 0.30% | 14,140 | $1.6M | Add +1.7% |
| BCS Barclays PLC-Spons ADR | 0.30% | 121,441 | $1.6M | No change |
| ALIT Alight Inc. Class A | 0.30% | 230,874 | $1.6M | Add +7.9% |
| JBL Jabil Inc. | 0.30% | 11,100 | $1.6M | No change |
| MRK Merck & Co. Inc. | 0.30% | 16,045 | $1.6M | Add +43.2% |
| MO Altria Group Inc. | 0.29% | 30,000 | $1.6M | Add +29.3% |
| CEF Sprott Physical Gold and Sil | 0.29% | 64,929 | $1.5M | Reduce -65.2% |
| HERZ Herzfeld Credit Income Fund | 0.29% | 652,965 | $1.5M | Reduce -6.0% |
| NTAP Netapp Inc. | 0.28% | 13,118 | $1.5M | Reduce -3.1% |
| CMCSA Comcast Corp. Class A | 0.28% | 40,474 | $1.5M | Add +15.6% |
| SMAR Smartsheet Inc. Class A | 0.28% | 26,900 | $1.5M | New |
| IVLU iShares MSCI International V | 0.28% | 55,300 | $1.5M | Reduce -3.5% |
| ADBE Adobe Inc. | 0.28% | 3,320 | $1.5M | Add +129.0% |
| GM General Motors Co. | 0.28% | 27,686 | $1.5M | Reduce -9.5% |
| ACI Albertsons Cos Inc. Class A | 0.28% | 74,861 | $1.5M | Reduce -8.7% |
| CCL Carnival Corp. | 0.27% | 58,842 | $1.5M | Reduce -98.2% |
| CSCO Cisco Systems Inc. | 0.27% | 24,760 | $1.5M | Reduce -8.3% |
| TS Tenaris SA-ADR | 0.27% | 38,680 | $1.5M | Add +33.4% |
| HPQ HP Inc. | 0.27% | 44,144 | $1.4M | No change |
| HRB H&R Block Inc. filed as BLOCK H & R INC | 0.27% | 27,138 | $1.4M | Add +118.0% |
| DFJ Wisdomtree JPN S/C DVD Fund | 0.27% | 19,006 | $1.4M | Add +5.5% |
| KHC The Kraft Heinz Co. | 0.27% | 46,465 | $1.4M | Add +33.5% |
| ALSN Allison Transmission Holding | 0.27% | 13,110 | $1.4M | Reduce -12.3% |
| FOX Fox Corp. Class B | 0.26% | 30,961 | $1.4M | Add +0.2% |
| SNX TD Synnex Corp. | 0.26% | 11,896 | $1.4M | Add +11.7% |
| ML Moneylion Inc. | 0.26% | 16,169 | $1.4M | New |
| VZ Verizon Communications Inc. | 0.26% | 34,320 | $1.4M | Add +14.4% |
| COF Capital One Financial Corp. | 0.25% | 7,618 | $1.4M | Add +7.9% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.25% | 17,620 | $1.4M | Add +51.9% |
Options reported separately and not counted above: MSTR puts ($112.7M), SPY calls ($62.8M), AAL puts ($55.2M), SPY puts ($24.0M), ARKK puts ($17.3M), SOFI puts ($10.2M), XLE puts ($8.8M), CCL puts ($8.8M), TLT calls ($7.0M), RCL puts ($6.9M), RIVN puts ($6.6M), GLD puts ($5.6M), and 304 more.
Other holdings (177): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 30,750,000 | $80.3M | Reduce -11.5% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 67,683,000 | $79.2M | Add +18.1% |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 27,274,000 | $55.0M | Reduce -7.5% |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 733,800 | $52.0M | New |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 37,518,000 | $47.6M | Add +17.2% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 489,362 | $42.7M | Add +386.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 40,950,000 | $41.5M | Add +49.2% |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | 17,586,000 | $38.2M | No change |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 34,431,000 | $33.4M | No change |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 30,799,000 | $29.3M | Add +3.4% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 25,000,000 | $25.6M | Add +212.5% |
| IMAX CORP (IMAX 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | 22,000,000 | $23.5M | Add +12.8% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 386,687 | $23.5M | Add +50.6% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 21,200,000 | $23.2M | Add +4.4% |
| TRAVERE THERAPEUTICS INC (TVTX 2.5 09/15/25) | NOTE 2.500% 9/1 · principal | 21,110,000 | $20.9M | Add +198.2% |
| BROOKDALE SENIOR LIVING (BKD 7 11/15/25) | UNIT 11/15/2025 | 286,141 | $19.8M | Reduce -3.4% |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 16,255,000 | $18.2M | New |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 18,095,000 | $17.6M | Add +28.6% |
| MANNKIND CORP (MNKD 2.5 03/01/26) | NOTE 2.500% 3/0 · principal | 12,500,000 | $16.6M | Reduce -7.4% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 17,608,000 | $16.3M | Reduce -12.0% |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | 11,890,000 | $16.2M | Reduce -29.6% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 14,939,611 | $15.8M | New |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 16,238,000 | $15.3M | No change |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 11,404,000 | $14.1M | Reduce -45.3% |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 9,922,000 | $13.7M | Add +397.6% |
| TRANSOCEAN INTERNTNL LTD (RIG 4 12/15/25 *) | DEB 4.000%12/1 · principal | 11,858,000 | $12.4M | Reduce -5.1% |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 1,404,146 | $11.5M | Add +41.5% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 11,198,000 | $11.5M | Add +49.3% |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 9,745,000 | $11.0M | Reduce -17.0% |
| LUNRW Intuitive Machines Inc.-CW | *W EXP 99/99/999 | 1,301,106 | $10.3M | Add +43.6% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 7,500,000 | $10.0M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 9,500,000 | $9.8M | Add +72.7% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 9,347,000 | $9.7M | Add +3.9% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 179,900 | $9.0M | New |
| INSIGHT ENTERPRS (NSIT 0.75 02/15/25) | NOTE 0.750% 2/1 · principal | 4,000,000 | $8.9M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 10,000,000 | $8.5M | Add +473.7% |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 9,000,000 | $8.5M | New |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 6,250,000 | $8.3M | Add +66.7% |
| GRND.WS Grindr Inc. -26 | *W EXP 11/18/202 | 1,139,604 | $7.7M | Add +57.7% |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 6,960,000 | $7.3M | No change |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 7,800,000 | $7.3M | New |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | 7,000,000 | $7.0M | Reduce -12.5% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 6,500,000 | $6.9M | New |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | 7,289,000 | $6.9M | Reduce -6.4% |
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | 280,854 | $6.8M | Add +0.9% |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | 6,000,000 | $6.7M | New |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 5,000,000 | $6.3M | New |
| CANADIAN SOLAR INC (CSIQ 2.5 10/01/25) | NOTE 2.500%10/0 · principal | 6,732,000 | $6.3M | No change |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | 5,000,000 | $5.8M | New |
| AVPTW Avepoint Inc.-CW24 | *W EXP 09/18/202 | 998,075 | $5.6M | New |
| BROOKDALE SENIOR LIVING (BKD 2 10/15/26) | NOTE 2.000%10/1 · principal | 5,632,000 | $5.2M | Add +22.8% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 5,100,000 | $5.1M | Add +45.7% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 5,016,000 | $5.1M | Reduce -33.3% |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | 4,992,000 | $5.0M | New |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 7,000,000 | $4.8M | Reduce -22.2% |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 4,405,000 | $4.6M | Reduce -31.2% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 4,850,000 | $4.4M | Add +142.5% |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 5,190,000 | $4.4M | Reduce -27.8% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 4,030,000 | $4.3M | Reduce -60.2% |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 4,319,000 | $4.3M | Reduce -14.1% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 3,009,000 | $4.0M | New |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 4,135,000 | $3.9M | Reduce -26.6% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 3,500,000 | $3.9M | Add +75.0% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 4,088,000 | $3.7M | Add +308.8% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 2,932,000 | $3.5M | No change |
| CMPOW Composecure Inc. -CW25 | *W EXP 12/27/202 | 749,012 | $3.5M | Add +27.8% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 2,920,000 | $3.4M | No change |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 3,075,000 | $3.4M | Reduce -56.1% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 3,160,000 | $3.3M | Reduce -63.5% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 3,533,000 | $3.1M | Reduce -12.4% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 3,096,000 | $3.0M | Add +27.3% |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | 3,000,000 | $3.0M | New |
| WORKIVA INC (WK 1.125 08/15/26) | NOTE 1.125% 8/1 · principal | 2,000,000 | $2.9M | No change |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | 3,000,000 | $2.7M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 2,500,000 | $2.6M | New |
| APPLIED OPTOELECTRONICS (AAOI 5.25 12/15/26) | NOTE 5.250%12/1 · principal | 1,000,000 | $2.4M | New |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 2,029,000 | $2.4M | Add +102.9% |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 77,539 | $2.1M | New |
| RDW.WS Redwire Corp. -CW27 | *W EXP 05/27/202 | 329,991 | $2.1M | Add +2029.7% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 2,144,000 | $2.1M | No change |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 41,155 | $2.0M | Add +133.3% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 2,045,000 | $1.9M | Reduce -41.6% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 2,000,000 | $1.9M | Reduce -60.0% |
| NOVAVAX INC (NVAX 5 12/15/27) | NOTE 5.000%12/1 · principal | 1,900,000 | $1.9M | Add +35.7% |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 1,873,000 | $1.8M | Reduce -25.1% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 1,000,000 | $1.8M | New |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | 1,362,128 | $1.7M | Add +46.5% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 2,000,000 | $1.7M | Reduce -33.3% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 1,600,000 | $1.6M | Reduce -87.8% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 1,500,000 | $1.5M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 2,000,000 | $1.5M | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 1,201,000 | $1.5M | Reduce -52.0% |
| TPI COMPOSITES INC (TPIC 5.25 03/15/28) | NOTE 5.250% 3/1 · principal | 5,813,000 | $1.4M | Add +41.3% |
| REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) | NOTE 1.750% 2/1 · principal | 1,500,000 | $1.4M | Reduce -25.0% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 1,500,000 | $1.4M | No change |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 31,535 | $1.3M | New |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | 3,500,000 | $1.3M | New |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 1,000,000 | $1.1M | New |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 1,000,000 | $1.1M | New |
| NNAVW Nextnav Inc. | *W EXP 99/99/999 | 184,468 | $1.1M | New |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | 2,500,000 | $1.0M | No change |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 1,000,000 | $1.0M | Reduce -83.5% |
| AISPW Airship AI Holdings Inc.-CW28 | *W EXP 12/21/202 | 471,228 | $966K | Add +1645.3% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 15,076 | $933K | Reduce -87.0% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 1,000,000 | $888K | New |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 700,000 | $840K | No change |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 11,325 | $796K | Add +116.6% |
| AUROW Aurora Innovation Inc. -CW28 | *W EXP 11/03/202 | 729,313 | $773K | Reduce -13.0% |
| NEOGENOMICS INC (NEO 0.25 01/15/28) | NOTE 0.250% 1/1 · principal | 880,000 | $739K | No change |
| DISH NETWORK CORP (DISH 3.375 08/15/26) | NOTE 3.375% 8/1 · principal | 884,000 | $731K | Reduce -94.1% |
| ADSEW ADS-Tec Energy PLC-WRNT | *W EXP 99/99/999 | 160,057 | $642K | New |
| BILL HOLDINGS INC (BILL 0 12/01/25) | NOTE 12/0 · principal | 647,000 | $624K | New |
| BMTX.WS BM Technologies -CW23 | *W EXP 01/04/202 | 1,014,636 | $591K | New |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 471,000 | $470K | No change |
| SKYH.WS Yellowstone Acquisit A -CW25 | *W EXP 01/25/202 | 151,642 | $443K | Reduce -31.8% |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | 500,000 | $334K | Reduce -75.0% |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 410,481 | $302K | Add +125.7% |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 300,000 | $280K | New |
| CIFRW Cipher Mining Inc. | *W EXP 08/27/202 | 206,706 | $280K | New |
| CUTERA INC (CUTR 4 06/01/29) | NOTE 4.000% 6/0 · principal | 2,875,000 | $245K | No change |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 1,169,468 | $211K | Add +392.0% |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 381,227 | $191K | No change |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | 602,455 | $181K | New |
| RZLVW Rezolve AI PLC -CW27 | *W EXP 08/15/202 | 229,260 | $169K | Add +5.8% |
| EVEX.WS Eve Holdng Inc. -CW25 | *W EXP 05/09/202 | 331,986 | $163K | Add +144.3% |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | 1,288,152 | $155K | New |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 811,078 | $130K | New |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 402,810 | $121K | New |
| CCIRW Cohen Circle Acquisition-29 | *W EXP 01/31/202 | 260,882 | $117K | New |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 829,957 | $116K | New |
| ML.WS Moneylion Inc. -CW27 | *W EXP 09/22/202 | 20,345 | $112K | Add +71.6% |
| RNWWW Renew Energy Global -CW26 | *W EXP 08/21/202 | 683,059 | $111K | Add +223.4% |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 743,065 | $104K | Add +600.1% |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 539,536 | $103K | New |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 683,708 | $96K | Add +53.3% |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 653,424 | $88K | Add +48.5% |
| NETDW Nabors Energy Transiti-CW | *W EXP 09/01/202 | 472,155 | $76K | Add +554.4% |
| ANSCW Agriculture & Natural Solu-W | *W EXP 10/01/202 | 262,100 | $71K | No change |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 543,649 | $65K | Add +43.4% |
| CBDMD INC (YCBD 8 PERP A) | 8% SER A CUM PFD | 74,998 | $59K | Add +0.8% |
| NTWOW Newbury Street II Acq - 29 | *W EXP 06/01/203 | 320,450 | $48K | New |
| SATLW Satellogic Inc.-A -23 | *W EXP 01/25/202 | 128,208 | $47K | New |
| CUTERA INC (CUTR 2.25 06/01/28) | NOTE 2.250% 6/0 · principal | 500,000 | $43K | No change |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 26,268 | $43K | Add +57.7% |
| OPFI.WS Oppfi Inc. -CW26 | *W EXP 07/20/202 | 47,546 | $41K | Reduce -89.6% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 36,000 | $38K | No change |
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 502,197 | $34K | Reduce -4.4% |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 302,026 | $33K | Add +61.4% |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 307,110 | $33K | Add +28.9% |
| PSQH.WS Colombier Acq Class A -CW28 | *W EXP 07/19/202 | 37,179 | $30K | New |
| BBAI.WS Bigbear.ai Holdings -CW28 | *W EXP 12/08/202 | 18,662 | $30K | No change |
| LOTWW Lotus Technology Inc.-28 | *W EXP 02/22/202 | 129,801 | $29K | No change |
| BTMWQ Bitcoin Depot Inc.-CW23 | *W EXP 06/30/202 | 432,053 | $29K | Reduce -20.1% |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 184,263 | $27K | New |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 115,471 | $24K | New |
| LVWR.WS Livewire Group Inc.-27 | *W EXP 09/26/202 | 427,954 | $22K | Add +0.1% |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | 551,573 | $19K | No change |
| OABIW Omniab Inc. - CW26 | *W EXP 99/99/999 | 54,656 | $19K | No change |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 | 120,044 | $18K | No change |
| ALTAIR ENGINEERING INC (ALTR 1.75 06/15/27) | NOTE 1.750% 6/1 · principal | 11,000 | $17K | New |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 15,000 | $14K | New |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 158,948 | $14K | New |
| AMPWF Ardagh Metal Packaging -CW26 | *W EXP 08/04/202 | 342,828 | $10K | Reduce -32.6% |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 51,000 | $10K | Reduce -49.0% |
| TALKW Hudson Executive Inv -CW25 | *W EXP 06/21/202 | 62,480 | $8K | New |
| PRCWF Procaps Group SA -CW26 | *W EXP 09/29/202 | 174,491 | $7K | Add +7.7% |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 50,000 | $6K | New |
| ADVWW Advantage Solutions in-CW25 | *W EXP 10/28/202 | 365,900 | $4K | Reduce -13.6% |
| COEPW Bull Horn Holdings Corp.-CW25 | *W EXP 10/28/202 | 38,848 | $2K | No change |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | 27,550 | $2K | No change |
| BAERW Wildfire New Pubco Inc.-27 | *W EXP 01/24/202 | 36,478 | $2K | No change |
| NKGNW Graf Acquisition Corp.-CW28 | *W EXP 05/31/202 | 12,795 | $1K | No change |
| MYPSW Playstudios Inc. -CW26 | *W EXP 99/99/999 | 37,725 | $943 | No change |
| CCGWW Cheche Group Inc. - 28 | *W EXP 10/01/203 | 20,000 | $800 | No change |
| WINVW Winvest Acquisition -CW23 | *W EXP 08/09/202 | 25,000 | $685 | No change |
| ZCARW Zoomcar Holdings Inc. | *W EXP 05/31/202 | 18,800 | $355 | No change |
| GDEV INC | *W EXP 99/99/999 | 10,000 | $180 | No change |
Total filed on the 13F, all lines: $1.7B.
Portfolio Sells Q3 2024 → Q4 2024
| CCL Carnival Corp. | Reduce -98.2% | 0.27% | −10.62 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -99.9% | 0.01% | −5.74 |
| SMTC Semtech Corp. | Reduce -97.1% | 0.09% | −2.15 |
| HONDU HCM II Acquisition Corp. | Sold out | 0.00% | −1.60 |
| VACHU Voyager Acquisition Corp. | Sold out | 0.00% | −1.37 |
| RCL Royal Caribbean Cruises Ltd. | Sold out | 0.00% | −0.70 |
| LPAA Launch One Acquisition Corp. | Sold out | 0.00% | −0.68 |
| CEF Sprott Physical Gold and Sil | Reduce -65.2% | 0.29% | −0.54 |
| AAN The Aaron's Co. Inc. | Sold out | 0.00% | −0.41 |
| CTLT Catalent Inc. | Sold out | 0.00% | −0.40 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −0.37 |
| W Wayfair Inc. Class A | Sold out | 0.00% | −0.35 |
| PI Impinj Inc. | Sold out | 0.00% | −0.34 |
| VGR Vector Group Ltd. | Sold out | 0.00% | −0.32 |
| ALF Centurion Acquisition Corp. | Sold out | 0.00% | −0.30 |
| BNT Brookfield Wealth Solutions | Reduce -71.8% | 0.14% | −0.30 |
| HAYN Haynes International Inc. | Sold out | 0.00% | −0.28 |
| STER Sterling Check Corp. | Sold out | 0.00% | −0.28 |
| PRFT Perficient Inc. | Sold out | 0.00% | −0.27 |
| AXONICS INC | Sold out | 0.00% | −0.26 |
| EMO Clearbridge Energy Midstream | Sold out | 0.00% | −0.26 |
| PWSC Powerschool Holdings Inc. Class A | Sold out | 0.00% | −0.24 |
| CONSOLIDATED COMM HLDGS INC | Sold out | 0.00% | −0.22 |
| AMED Amedisys Inc. | Sold out | 0.00% | −0.21 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.21 |
| VZIO Vizio Holding Corp. Class A | Sold out | 0.00% | −0.21 |
| AGCO Agco Corp. | Sold out | 0.00% | −0.19 |
| AY Atlantica Sustainable Infras | Sold out | 0.00% | −0.18 |
| PEO Adams Natural Resources Fund | Reduce -20.2% | 0.63% | −0.18 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.17 |
| EQT Eqt Corp. | Reduce -93.9% | 0.01% | −0.17 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.16 |
| XTTPX Tortoise Pipeline & Energy | Sold out | 0.00% | −0.16 |
| EVRG Evergy Inc. | Sold out | 0.00% | −0.16 |
| SRCL Stericycle Inc. | Sold out | 0.00% | −0.16 |
| FTW.U Eqv Ventures Acquisition Cor | Sold out | 0.00% | −0.16 |
| XNDPX Tortoise Energy Independence | Sold out | 0.00% | −0.16 |
| CF CF Industries Holdings Inc. | Reduce -85.0% | 0.03% | −0.15 |
| BP BP PLC-Spons ADR | Reduce -17.1% | 0.64% | −0.15 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −0.15 |
| PCF High Income Securities Fund | Reduce -91.6% | 0.01% | −0.14 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.14 |
| SQSP Squarespace Inc. Class A | Sold out | 0.00% | −0.13 |
| CRM Salesforce Inc. | Reduce -71.0% | 0.08% | −0.13 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.13 |
| MUR Murphy Oil Corp. | Reduce -12.9% | 0.55% | −0.13 |
| WSM Williams-Sonoma Inc. | Sold out | 0.00% | −0.13 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.12 |
| INBX Inhibrx Biosciences Inc. | Reduce -44.5% | 0.15% | −0.11 |
| NVEI Nuvei Corp.-Subordinate VTG | Sold out | 0.00% | −0.11 |
Portfolio Buys Q3 2024 → Q4 2024
| MTSI Macom Technology Solutions H | New | 5.52% | +5.52 |
| ALDF Aldel Financial II Inc. | New | 1.50% | +1.50 |
| CCIR Cohen Circle Acquisitio Class A | New | 1.23% | +1.23 |
| NTWO Newbury Street II Ac Class A | New | 1.20% | +1.20 |
| SMR Nuscale Power Corp. | New | 0.98% | +0.98 |
| SOFI Sofi Technologies Inc. | Add +8355.3% | 0.97% | +0.97 |
| LPBB Launch Two Acquisition Class A | New | 0.89% | +0.89 |
| GEAR Revelyst Inc. | Add +3413.9% | 0.94% | +0.89 |
| RSP Invesco S&P 500 Equal Weight | Add +29.0% | 3.23% | +0.76 |
| TDACU Translational Development Ac | New | 0.75% | +0.75 |
| NCLH Norwegian Cruise Line Holdin | New | 0.66% | +0.66 |
| TPZ Tort Electf Infra ETF-Usd Inc. | New | 0.64% | +0.64 |
| SSB Southstate Bank Corp. | New | 0.58% | +0.58 |
| DVN Devon Energy Corp. | Add +145.9% | 0.96% | +0.51 |
| AAOI Applied Optoelectronics Inc. | New | 0.51% | +0.51 |
| XLE SS Energy Select Sector | Add +1754.0% | 0.54% | +0.51 |
| SHEL Shell PLC-ADR | Add +93.0% | 0.97% | +0.46 |
| ARKK ARK Innovation ETF | New | 0.46% | +0.46 |
| VOO Vanguard S&P 500 ETF | Add +0.7% | 7.00% | +0.44 |
| CIVI Civitas Resources Inc. | Add +107.9% | 0.76% | +0.37 |
| PR Permian Resources Corp. Class A | New | 0.37% | +0.37 |
| IBIT iShares Bitcoin Trust ETF | Add +21.2% | 0.77% | +0.35 |
| FANG Diamondback Energy Inc. | New | 0.33% | +0.33 |
| XHB SS SPDR S&P Homebldrs ETF | New | 0.31% | +0.31 |
| AMLP Alerian MLP ETF | Add +297.6% | 0.40% | +0.30 |
| EVBN Evans Bancorp Inc. | Add +148.4% | 0.45% | +0.29 |
| SMAR Smartsheet Inc. Class A | New | 0.28% | +0.28 |
| ML Moneylion Inc. | New | 0.26% | +0.26 |
| BERY Berry Global Group Inc. | Add +139.4% | 0.45% | +0.26 |
| TTE Totalenergies SE -Spon ADR | Add +162.4% | 0.41% | +0.23 |
| DBC Invesco DB Commodity Index T | Add +116.5% | 0.43% | +0.23 |
| RIVN Rivian Automotive Inc. Class A | New | 0.23% | +0.23 |
| UNH Unitedhealth Group Inc. | New | 0.21% | +0.21 |
| CTA Simplify Managed Futures St | Add +83.6% | 0.39% | +0.20 |
| RKLB Rocket Lab USA Inc. | Add +114.1% | 0.24% | +0.20 |
| COP Conocophillips | Add +146.5% | 0.33% | +0.19 |
| OSIS Osi Systems Inc. | Add +322.2% | 0.24% | +0.19 |
| K Kellanova | Add +753.2% | 0.21% | +0.18 |
| APP AppLovin Corp. Class A | Add +105.6% | 0.22% | +0.18 |
| TBNK Territorial Bancorp Inc. | Add +583.5% | 0.20% | +0.17 |
| HIG Hartford Insurance Group Inc. | New | 0.17% | +0.17 |
| FBMS First Bancshares Inc. | Add +293.9% | 0.21% | +0.17 |
| IWM iShares Russell 2000 ETF | New | 0.17% | +0.17 |
| MP MP Materials Corp. | New | 0.16% | +0.16 |
| ASPCU A Spac III Acquisition Corp. | New | 0.16% | +0.16 |
| RPD RAPID7 Inc. | New | 0.16% | +0.16 |
| CFB Crossfirst Bankshares Inc. | New | 0.16% | +0.16 |
| ALTM Arcadium Lithium PLC | New | 0.16% | +0.16 |
| CCRN Cross Country Healthcare Inc. | New | 0.15% | +0.15 |
| OVV Ovintiv Inc. | Add +9.7% | 0.91% | +0.15 |
Options Activity Q3 2024 → Q4 2024
| MSTR Strategy Inc. | put | Add +9.3% | 389,200 | $112.7M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | New | 107,100 | $62.8M |
| AAL American Airlines Group Inc. | put | Reduce -0.3% | 3,164,300 | $55.2M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -75.0% | 41,000 | $24.0M |
| ARKK ARK Innovation ETF | put | Add +25.3% | 304,900 | $17.3M |
| SOFI Sofi Technologies Inc. | put | Reduce -3.0% | 661,600 | $10.2M |
| XLE SS Energy Select Sector | put | Add +194.0% | 102,900 | $8.8M |
| TLT iShares 20+ Year Treasury BD | call | New | 80,000 | $7.0M |
| RIVN Rivian Automotive Inc. Class A | put | Add +4.2% | 495,300 | $6.6M |
| GLD SPDR Gold Shares | put | Reduce -70.4% | 23,100 | $5.6M |
| JNPR Juniper Networks Inc. | call | Reduce -0.6% | 141,900 | $5.3M |
| EEM iShares MSCI Emerging Market | put | Reduce -48.5% | 120,000 | $5.0M |
| KRE SS SPDR S&P Regional Bank | put | Reduce -25.0% | 80,000 | $4.8M |
| DDOG Datadog Inc. Class A | put | Add +179.2% | 33,500 | $4.8M |
| DASH DoorDash Inc. Class A | put | Add +87.9% | 26,300 | $4.4M |
| SMR Nuscale Power Corp. | put | New | 232,300 | $4.2M |
| RKLB Rocket Lab USA Inc. | put | Reduce -1.2% | 161,600 | $4.1M |
| IWM iShares Russell 2000 ETF | put | Add +28.6% | 18,000 | $4.0M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 8,000 | $3.9Mbefore exit |
| ARKK ARK Innovation ETF | call | Reduce -67.9% | 65,100 | $3.7M |
| XLF SS Financial Select Sector | put | Reduce -60.5% | 75,000 | $3.6M |
| NCLH Norwegian Cruise Line Holdin | put | Add +40.2% | 139,400 | $3.6M |
| XLE SS Energy Select Sector | call | Add +14.3% | 40,000 | $3.4M |
| MSTR Strategy Inc. | call | New | 11,500 | $3.3M |
| AMZN Amazon.com Inc. | put | Add +130.8% | 15,000 | $3.3M |
| PLTR Palantir Technologies Inc. Class A | put | Add +320.0% | 42,000 | $3.2M |
| X United States Steel Corp. | call | Add +9.4% | 88,800 | $3.0M |
| VAC Marriott Vacations World | put | Sold out | 41,000 | $3.0Mbefore exit |
| SIRI Sirius XM Holdings Inc. | call | Reduce -14.3% | 119,049 | $2.7M |
| PARAA Paramount Global Class B | put | Add +20.8% | 259,300 | $2.7M |
| TWLO Twilio Inc. Class A | put | Add +78.8% | 24,500 | $2.6M |
| TSLA Tesla Inc. | put | Add +225.0% | 6,500 | $2.6M |
| NET Cloudflare Inc. Class A | put | Add +166.7% | 24,000 | $2.6M |
| UNH Unitedhealth Group Inc. | put | New | 5,000 | $2.5M |
| NFLX Netflix Inc. | put | New | 2,800 | $2.5M |
| TOST Toast Inc. Class A | put | Add +570.0% | 67,000 | $2.4M |
| EWU iShares MSCI United Kingdom | call | Sold out | 60,700 | $2.3Mbefore exit |
| XHB SS SPDR S&P Homebldrs ETF | put | New | 21,000 | $2.2M |
| EEM iShares MSCI Emerging Market | call | New | 50,000 | $2.1M |
| TXN Texas Instruments Inc. | put | New | 11,000 | $2.1M |
| ADP Automatic Data Processing | put | New | 7,000 | $2.0M |
| PCG P G & E Corp. | put | Reduce -36.2% | 97,000 | $2.0M |
| MARA Mara Holdings Inc. | put | Add +343.5% | 116,200 | $1.9M |
| ROKU Roku Inc. | put | Add +36.8% | 26,000 | $1.9M |
| CMCSA Comcast Corp. Class A | call | New | 50,000 | $1.9M |
| APD Air Products & Chemicals Inc. | put | Add +44.4% | 6,500 | $1.9M |
| AFRM Affirm Holdings Inc. | put | Add +500.0% | 30,000 | $1.8M |
| DVN Devon Energy Corp. | call | New | 55,300 | $1.8M |
| BILL Bill Holdings Inc. | put | New | 21,000 | $1.8M |
| XLI SS Industrial Select Sector | put | Sold out | 13,000 | $1.8Mbefore exit |
Showing the first 50 of 345.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | Reduce -11.5% | 30,750,000 | $80.3M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Add +18.1% | 67,683,000 | $79.2M |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 40,977,000 | $57.9Mbefore exit |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | Reduce -7.5% | 27,274,000 | $55.0M |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | New | 733,800 | $52.0M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Add +17.2% | 37,518,000 | $47.6M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +386.6% | 489,362 | $42.7M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +49.2% | 40,950,000 | $41.5M |
| RBC BEARINGS INC (RBC 5 10/15/24 A) | 5% CNV PFD SR A | Sold out | 294,827 | $39.3Mbefore exit |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Add +3.4% | 30,799,000 | $29.3M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Sold out | 21,487,000 | $27.9Mbefore exit |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Add +212.5% | 25,000,000 | $25.6M |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | Sold out | 17,750,000 | $25.1Mbefore exit |
| IMAX CORP (IMAX 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | Add +12.8% | 22,000,000 | $23.5M |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | Add +50.6% | 386,687 | $23.5M |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | Add +4.4% | 21,200,000 | $23.2M |
| TRAVERE THERAPEUTICS INC (TVTX 2.5 09/15/25) | NOTE 2.500% 9/1 · principal | Add +198.2% | 21,110,000 | $20.9M |
| BROOKDALE SENIOR LIVING (BKD 7 11/15/25) | UNIT 11/15/2025 | Reduce -3.4% | 286,141 | $19.8M |
| PETIQ INC (PETQ 4 06/01/26) | NOTE 4.000% 6/0 · principal | Sold out | 16,000,000 | $18.7Mbefore exit |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | New | 16,255,000 | $18.2M |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | Add +28.6% | 18,095,000 | $17.6M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.125 11/15/24) | NOTE 0.125%11/1 · principal | Sold out | 16,717,000 | $16.7Mbefore exit |
| MANNKIND CORP (MNKD 2.5 03/01/26) | NOTE 2.500% 3/0 · principal | Reduce -7.4% | 12,500,000 | $16.6M |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | Reduce -12.0% | 17,608,000 | $16.3M |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | Reduce -29.6% | 11,890,000 | $16.2M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | New | 14,939,611 | $15.8M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Reduce -45.3% | 11,404,000 | $14.1M |
| SAREPTA THERAPEUTICS INC (SRPT 1.5 11/15/24) | DBCV 1.500%11/1 · principal | Sold out | 8,197,000 | $13.9Mbefore exit |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Add +397.6% | 9,922,000 | $13.7M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Sold out | 10,753,000 | $13.1Mbefore exit |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Sold out | 12,726,000 | $13.1Mbefore exit |
| TRANSOCEAN INTERNTNL LTD (RIG 4 12/15/25 *) | DEB 4.000%12/1 · principal | Reduce -5.1% | 11,858,000 | $12.4M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | Add +41.5% | 1,404,146 | $11.5M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +49.3% | 11,198,000 | $11.5M |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | Reduce -17.0% | 9,745,000 | $11.0M |
| DISH NETWORK CORP (DISH 0 12/15/25) | NOTE 12/1 · principal | Sold out | 12,437,000 | $10.8Mbefore exit |
| LUNRW Intuitive Machines Inc.-CW | *W EXP 99/99/999 | Add +43.6% | 1,301,106 | $10.3M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 7,500,000 | $10.0M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +72.7% | 9,500,000 | $9.8M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +3.9% | 9,347,000 | $9.7M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | New | 179,900 | $9.0M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Add +473.7% | 10,000,000 | $8.5M |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | New | 9,000,000 | $8.5M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Add +66.7% | 6,250,000 | $8.3M |
| GRND.WS Grindr Inc. -26 | *W EXP 11/18/202 | Add +57.7% | 1,139,604 | $7.7M |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | New | 7,800,000 | $7.3M |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | Reduce -12.5% | 7,000,000 | $7.0M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | New | 6,500,000 | $6.9M |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | Reduce -6.4% | 7,289,000 | $6.9M |
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | Add +0.9% | 280,854 | $6.8M |
Showing the first 50 of 189.
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 | 556 | $743.0M | RSP, VOO, WDC, IAU, SPY |
| Q1 2026 | 525 | $632.8M | RSP, VOO, IAU, PEN, HOLX |
| Q4 2025 | 528 | $597.7M | VOO, RSP, IAU, SWZ, SOFI |
| Q3 2025 | 480 | $573.5M | VOO, RSP, SPY, IAU, CHINA FUND INC |
| Q2 2025 | 472 | $537.1M | RSP, VOO, IAU, STEW, BPMC |
| Q1 2025 | 459 | $499.3M | VOO, AXON, RSP, STEW, IAU |
| Q4 2024 | 462 | $534.5M | VOO, MTSI, RSP, STEW, IAU |
| Q3 2024 | 420 | $554.6M | CCL, VOO, SPY, RSP, SMTC |
| Q2 2024 | 424 | $457.3M | VOO, SPY, RSP, STEW, ALFUU |
| Q1 2024 | 414 | $409.7M | SPY, VOO, STEW, RSP, PEO |