CSS LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), CSS LLC reported 480 stock positions worth $573.5 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 3.0% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 3.0%) and SS SPDR S&P 500 ETF Trust-US (SPY, 2.5%). Compared with Q2 2025, it opened 125 new positions, sold out of 117, added to 135 and reduced 160. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale an exit from Blueprint Medicines (BPMC).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001103646
- Portfolio Value
- $573.5M (Q3 2025)
- SEC Filing
- 0001103646-25-000009 ↗ filed Nov 13, 2025
Holdings Value
Holdings 480 stocks · $573.5M
| VOO Vanguard S&P 500 ETF | 2.99% | 27,990 | $17.1M | No change |
| RSP Invesco S&P 500 Equal Weight | 2.96% | 89,472 | $17.0M | Add +0.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.47% | 21,304 | $14.2M | New |
| IAU iShares Gold Trust | 2.35% | 185,240 | $13.5M | Add +4.8% |
| CHINA FUND INC | 2.23% | 693,261 | $12.8M | Add +409.9% |
| WOLF Wolfspeed Inc. | 1.50% | 300,055 | $8.6M | New |
| STEW SRH Total Return Fund Inc. | 1.46% | 461,785 | $8.4M | No change |
| DMIIU Drugs Made in America Acquis | 1.42% | 817,000 | $8.1M | New |
| TACH Titan Acquisition Corp. Class A | 1.25% | 708,268 | $7.2M | Add +3.7% |
| BDCIU BTC Development Corp. | 1.25% | 707,880 | $7.1M | New |
| CEPF Cantor Equity Partners Class A | 1.15% | 650,000 | $6.6M | New |
| K Kellanova | 1.07% | 74,682 | $6.1M | Add +45.5% |
| ETNB 89BIO Inc. | 1.05% | 409,571 | $6.0M | New |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | 0.98% | 205,764 | $5.6M | No change |
| WENN Wen Acquisition Corp. Class A | 0.97% | 547,631 | $5.5M | Reduce -14.6% |
| VRNA Verona Pharma Ltd. | 0.86% | 46,100 | $4.9M | New |
| WDC Western Digital Corp. | 0.81% | 38,753 | $4.7M | Add +187.5% |
| IPCX Inflection Point Acquisiti-A | 0.80% | 454,422 | $4.6M | No change |
| IBIT iShares Bitcoin Trust ETF | 0.78% | 68,980 | $4.5M | Add +20.6% |
| MXE Mexico Equity and Income FD | 0.75% | 361,276 | $4.3M | Reduce -17.8% |
| CTA Simplify Managed Futures St | 0.73% | 149,060 | $4.2M | Add +6.0% |
| ARIS WATER SOLUTIONS INC-A | 0.73% | 169,003 | $4.2M | New |
| GLD SPDR Gold Shares | 0.70% | 11,314 | $4.0M | Add +36.4% |
| PSKY Paramount Skydance Class B | 0.69% | 210,146 | $4.0M | New |
| RDAG Republic Digital Acquis Class A | 0.69% | 388,581 | $4.0M | Reduce -28.1% |
| LLYVA Liberty Media Corp.-Liberty-A | 0.69% | 41,755 | $3.9M | No change |
| RAAQ Real Asset Acquisiti Class A | 0.68% | 386,748 | $3.9M | Add +1.0% |
| AVUV Avantis US Small Cap Value | 0.68% | 38,920 | $3.9M | Add +18.4% |
| AVES Avantis Emerging Markets Val | 0.63% | 62,973 | $3.6M | No change |
| AXON Axon Enterprise Inc. | 0.62% | 4,934 | $3.5M | No change |
| XRSFX Rivernorth Capital & Income | 0.62% | 239,766 | $3.5M | Add +32.6% |
| FG MERGER II CORP | 0.61% | 352,136 | $3.5M | New |
| ALE Allete Inc. | 0.61% | 52,767 | $3.5M | Add +84.9% |
| LPBB Launch Two Acquisition Class A | 0.60% | 328,620 | $3.4M | Reduce -13.2% |
| SWZ Total Return Securities Fund | 0.58% | 544,683 | $3.3M | Add +3.8% |
| EWJV iShares MSCI Japan Value ETF | 0.56% | 81,722 | $3.2M | Add +5.3% |
| FIGX Figx Capital Acquisition C-A | 0.52% | 299,799 | $3.0M | No change |
| DBC Invesco DB Commodity Index T | 0.52% | 132,642 | $3.0M | No change |
| BE Bloom Energy Corp. Class A | 0.52% | 35,224 | $3.0M | Add +152.4% |
| EFA iShares MSCI Eafe ETF | 0.52% | 31,790 | $3.0M | Add +117.6% |
| RKLB Rocket Lab Corp. | 0.52% | 61,827 | $3.0M | Reduce -0.3% |
| IVLU iShares MSCI International V | 0.52% | 83,300 | $3.0M | Add +18.5% |
| CYBR Cyberark Software Ltd./Israel | 0.49% | 5,854 | $2.8M | New |
| CHPG Championsgate Acquisitio-A | 0.48% | 273,137 | $2.8M | No change |
| DFSV Dimensional US Small Cap Val | 0.48% | 85,740 | $2.7M | Add +99.6% |
| FERA Fifth Era Acquisition Corp. Class A | 0.47% | 264,731 | $2.7M | No change |
| SMTC Semtech Corp. | 0.45% | 35,835 | $2.6M | Add +30.7% |
| CCRN Cross Country Healthcare Inc. | 0.43% | 175,436 | $2.5M | Reduce -14.8% |
| CVX Chevron Corp. | 0.43% | 15,982 | $2.5M | New |
| IPG Interpublic Group of Cos Inc. | 0.43% | 88,093 | $2.5M | Add +66.2% |
| PEO Adams Natural Resources Fund | 0.43% | 113,289 | $2.4M | Reduce -5.0% |
| SPR Spirit Aerosystems Hold Class A | 0.41% | 60,188 | $2.3M | Add +62.1% |
| COOP Mr Cooper Group Inc. | 0.40% | 10,840 | $2.3M | New |
| LNSR Lensar Inc. | 0.39% | 183,070 | $2.3M | No change |
| CET Central Securities Corp. | 0.38% | 42,607 | $2.2M | No change |
| DKS Dick's Sporting Goods Inc. | 0.38% | 9,848 | $2.2M | New |
| SHEL Shell PLC-ADR | 0.38% | 30,539 | $2.2M | Add +28.0% |
| GAM General American Investors | 0.38% | 34,593 | $2.2M | Reduce -8.0% |
| CCII Cohen Circle Acquisit II - A | 0.37% | 209,600 | $2.1M | New |
| FCRS.U Futurecrest Acquisition Corp. | 0.37% | 200,048 | $2.1M | New |
| PACH Pioneer Acquisition I Class A | 0.37% | 212,388 | $2.1M | Reduce -11.6% |
| IVZ Invesco Ltd. | 0.36% | 89,937 | $2.1M | Reduce -13.5% |
| AR Antero Resources Corp. | 0.36% | 61,440 | $2.1M | New |
| KMLM Kraneshares MT LC MN FT Id S | 0.34% | 72,407 | $1.9M | Add +5.4% |
| T AT&T Inc. | 0.33% | 67,779 | $1.9M | Reduce -16.1% |
| DFIV Dimensional International Va | 0.32% | 40,350 | $1.9M | No change |
| BRR Columbus Circle Capital Co. Class A | 0.32% | 182,561 | $1.8M | Reduce -48.8% |
| EVAC Eqv Ventures Acquisition C-A | 0.32% | 184,344 | $1.8M | New |
| GPOR Gulfport Energy Corp. | 0.32% | 10,020 | $1.8M | Add +6.1% |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | 0.32% | 33,424 | $1.8M | Reduce -33.4% |
| SPE Special Opportunities Fund | 0.31% | 115,979 | $1.8M | Reduce -1.9% |
| EQT Eqt Corp. | 0.31% | 32,940 | $1.8M | New |
| CTRA Coterra Energy Inc. | 0.31% | 75,455 | $1.8M | Add +62.5% |
| SLV iShares Silver Trust | 0.31% | 41,340 | $1.8M | New |
| GM General Motors Co. | 0.30% | 28,555 | $1.7M | Add +7.2% |
| ZIMV Zimvie Inc. | 0.30% | 91,229 | $1.7M | New |
| XPHDX Pioneer Floating Rate Fund | 0.30% | 171,845 | $1.7M | Add +135.4% |
| ZTR Virtus Total Return Fund Inc. | 0.28% | 251,963 | $1.6M | No change |
| C Citigroup Inc. | 0.28% | 15,798 | $1.6M | Reduce -34.7% |
| CORZ Core Scientific Inc. | 0.27% | 87,713 | $1.6M | Reduce -28.7% |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 0.27% | 20,473 | $1.6M | New |
| JNJ Johnson & Johnson | 0.27% | 8,377 | $1.6M | Reduce -13.9% |
| BCS Barclays PLC-Spons ADR | 0.27% | 74,741 | $1.5M | Reduce -23.4% |
| CMCSA Comcast Corp. Class A | 0.26% | 48,118 | $1.5M | Add +12.0% |
| NEE Nextera Energy Inc. | 0.26% | 20,000 | $1.5M | New |
| GH Guardant Health Inc. | 0.26% | 24,160 | $1.5M | Add +7.4% |
| SSNC Ss&c Technologies Holdings | 0.26% | 16,980 | $1.5M | Reduce -7.4% |
| TAP Molson Coors Beverage Co. Class B | 0.26% | 33,227 | $1.5M | Reduce -22.2% |
| COIN Coinbase Global Inc. Class A | 0.26% | 4,440 | $1.5M | Add +61.9% |
| ADT Adt Inc. | 0.26% | 171,870 | $1.5M | Add +28.3% |
| BTI British American Tob-SP ADR | 0.26% | 27,980 | $1.5M | Add +11.4% |
| MRK Merck & Co. Inc. | 0.26% | 17,655 | $1.5M | Reduce -23.1% |
| DFJ Wisdomtree JPN S/C DVD Fund | 0.26% | 15,556 | $1.5M | No change |
| CVAC Curevac NV | 0.26% | 273,495 | $1.5M | New |
| BMY Bristol-Myers Squibb Co. | 0.25% | 32,120 | $1.4M | Reduce -2.5% |
| SYF Synchrony Financial | 0.25% | 20,174 | $1.4M | Add +5.3% |
| MO Altria Group Inc. | 0.25% | 21,670 | $1.4M | Reduce -26.3% |
| FYBR Frontier Communications Pare | 0.25% | 38,000 | $1.4M | Add +185.7% |
| CVS CVS Health Corp. | 0.25% | 18,741 | $1.4M | Add +65.4% |
| META Meta Platforms Inc. Class A | 0.25% | 1,915 | $1.4M | Add +13.7% |
Options reported separately and not counted above: MSTR puts ($94.3M), GME puts ($43.4M), SPY puts ($42.0M), SANDISK CORP puts ($37.0M), SPY calls ($29.3M), AAL puts ($15.5M), SOFI puts ($15.2M), GLD puts ($12.4M), PSKY puts ($9.4M), RKLB puts ($7.3M), NIO puts ($7.2M), MARA puts ($6.4M), and 282 more.
Other holdings (211): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 27,274,000 | $77.1M | No change |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 62,382,000 | $76.7M | Add +8.8% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 45,256,000 | $73.4M | Add +290.7% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 62,574,000 | $66.3M | Add +20.2% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 35,464,000 | $49.5M | Add +160.8% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 25,518,000 | $38.5M | Add +21.4% |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 18,936,000 | $36.4M | Add +324.6% |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 17,191,000 | $35.7M | Add +20.6% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 14,408,709 | $35.4M | New |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 24,500,000 | $33.9M | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 13,500,000 | $32.6M | New |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | 22,822,000 | $27.5M | Add +7.0% |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 14,500,000 | $27.5M | New |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 11,240,000 | $25.2M | New |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 11,897,000 | $21.2M | Reduce -20.1% |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | 16,000,000 | $20.6M | No change |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | 16,000,000 | $19.5M | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 13,976,000 | $16.8M | Reduce -17.7% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 276,272 | $16.7M | Reduce -1.5% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 10,859,000 | $16.5M | New |
| MANNKIND CORP (MNKD 2.5 03/01/26) | NOTE 2.500% 3/0 · principal | 13,980,000 | $15.9M | No change |
| TRANSOCEAN INTERNTNL LTD (RIG 4 12/15/25 *) | DEB 4.000%12/1 · principal | 13,678,000 | $13.8M | No change |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 8,037,000 | $12.6M | Reduce -22.7% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 11,261,000 | $11.9M | New |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 1,019,186 | $11.9M | Reduce -30.2% |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 39,853 | $10.8M | New |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 10,000,000 | $10.3M | Reduce -71.0% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 10,199,000 | $10.1M | Reduce -69.4% |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 138,969 | $9.9M | Add +365.9% |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | 7,352,000 | $9.8M | New |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 3,000,000 | $8.9M | No change |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 8,274,000 | $8.2M | New |
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | 303,909 | $7.6M | Add +6.3% |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 136,315 | $7.6M | Add +124.3% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 5,639,000 | $7.1M | Add +12.8% |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 7,000,000 | $6.9M | Add +250.0% |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 6,692,000 | $6.9M | Reduce -34.5% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 7,500,000 | $6.9M | Add +150.0% |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 7,105,000 | $6.8M | Add +7.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 7,036,000 | $6.6M | Add +36.6% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 6,500,000 | $6.5M | New |
| BROOKDALE SENIOR LIVING (BKD 2 10/15/26) | NOTE 2.000%10/1 · principal | 5,632,000 | $6.5M | No change |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 4,400,000 | $6.0M | Reduce -16.2% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 4,000,000 | $5.6M | Add +60.0% |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 5,000,000 | $5.6M | New |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 5,200,000 | $5.5M | Add +62.5% |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 5,000,000 | $5.3M | Reduce -28.6% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 68,550 | $4.8M | Add +142.3% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 4,552,000 | $4.7M | Add +51.7% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 3,613 | $4.6M | Reduce -80.9% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 3,116,000 | $4.6M | Reduce -80.6% |
| HERTZ CORP/THE (HTZ 8 07/15/29) | NOTE 8.000% 7/1 · principal | 3,165,999 | $4.3M | Reduce -10.2% |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 4,000,000 | $4.1M | New |
| PROS HOLDINGS INC (PRO 2.5 07/01/30) | DEBT 2.500% 7/0 · principal | 3,000,000 | $3.9M | New |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 2,977,000 | $3.8M | Reduce -17.4% |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 3,755,000 | $3.7M | No change |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 142,058 | $3.6M | Reduce -74.5% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 2,150,000 | $3.3M | No change |
| NNAVW Nextnav Inc. | *W EXP 99/99/999 | 600,219 | $3.2M | Add +91.2% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 2,500,000 | $3.2M | New |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 3,395,000 | $3.2M | Add +16.9% |
| USA RARE EARTH INC | *W EXP 03/13/203 | 424,026 | $3.1M | Add +756.0% |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | 2,935,000 | $2.9M | Reduce -41.1% |
| GROUPON INC (GRPN 4.875 06/30/30 UNRS) | NOTE 4.875% 6/3 · principal | 3,000,000 | $2.8M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 2,500,000 | $2.6M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 2,431,000 | $2.6M | Add +4020.3% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 2,544,000 | $2.5M | New |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 2,500,000 | $2.4M | Reduce -89.6% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 2,580,000 | $2.4M | Add +3.2% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 2,525,000 | $2.3M | New |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 2,557,000 | $2.3M | New |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 4,950,000 | $2.3M | Reduce -16.8% |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 2,000,000 | $2.1M | Add +33.3% |
| CIFRW Cipher Mining Inc. | *W EXP 08/27/202 | 414,342 | $2.1M | Add +215.8% |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 2,000,000 | $2.0M | New |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 1,476,000 | $1.8M | No change |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 2,000,000 | $1.7M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 1,600,000 | $1.6M | Reduce -91.0% |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 47,678 | $1.5M | Reduce -62.0% |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 201,520 | $1.5M | Reduce -1.2% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 1,500,000 | $1.5M | Reduce -76.0% |
| DISH NETWORK CORP (DISH 3.375 08/15/26) | NOTE 3.375% 8/1 · principal | 1,491,000 | $1.5M | Add +11.6% |
| PL.WS Planet Labs PBC -CW26 | *W EXP 12/06/202 | 391,377 | $1.4M | Add +301.3% |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | 1,000,000 | $1.3M | New |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 1,000,000 | $1.3M | Reduce -88.2% |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 757,383 | $1.2M | Reduce -9.4% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 24,012 | $1.2M | Reduce -67.1% |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | 2,062,007 | $1.2M | Add +36.1% |
| JOBY.WS Joby Aviation Inc. -CW25 | *W EXP 08/10/202 | 183,055 | $1.1M | New |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 851,373 | $1.0M | Add +12.9% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 1,000,000 | $1.0M | Reduce -75.0% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 14,044 | $957K | New |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 11,233 | $890K | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 33,262 | $848K | Add +4.0% |
| BILL HOLDINGS INC (BILL 0 12/01/25) | NOTE 12/0 · principal | 647,000 | $638K | No change |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 630,000 | $638K | New |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | 475,281 | $570K | Reduce -14.3% |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 471,000 | $471K | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 8,805 | $439K | New |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 761,739 | $427K | Add +137.5% |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 4,167 | $422K | Reduce -99.0% |
| AMPX.WS Amprius Technologies Inc. | *W EXP 09/14/202 | 114,343 | $418K | New |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 1,201,096 | $396K | Reduce -8.4% |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 950,373 | $352K | No change |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 1,162,788 | $350K | Add +1.1% |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 521,141 | $339K | Add +40.4% |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 09/25/203 | 284,810 | $303K | New |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 301,000 | $299K | Add +975.0% |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 1,600,882 | $272K | Add +3.4% |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 751,715 | $256K | Reduce -10.5% |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 394,899 | $249K | No change |
| AISPW Airship AI Holdings Inc.-CW28 | *W EXP 12/21/202 | 148,227 | $248K | Reduce -2.5% |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | 67,286 | $227K | Add +33.5% |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 830,457 | $216K | No change |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 532,646 | $208K | No change |
| RAAQW REAL ASSET AQC Corp -30 | *W EXP 04/24/203 | 445,207 | $200K | Add +39.7% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 205,000 | $197K | New |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 43,070 | $190K | Reduce -5.2% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 189,000 | $189K | New |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | 225,000 | $188K | No change |
| BTMWQ Bitcoin Depot Inc.-CW23 | *W EXP 06/30/202 | 703,814 | $175K | Add +6.0% |
| TDACW Translational Dev -A -CW26 | *W EXP 12/18/202 | 582,037 | $169K | Reduce -1.1% |
| WLACW Willow Lane Acquisition - 29 | *W EXP 10/31/203 | 60,000 | $168K | Reduce -40.0% |
| RAC.WS Rithm Acquisition Corp. - 30 | *W EXP 99/99/999 | 246,166 | $162K | No change |
| KYIVW Kyivstar Group Ltd. -30 | *W EXP 08/14/203 | 37,617 | $153K | New |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 655,424 | $151K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 273,810 | $148K | Reduce -32.0% |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 | 215,711 | $145K | Add +119.2% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 129,000 | $143K | New |
| BULLW Webull Corp.-30 | *W EXP 04/10/203 | 22,559 | $137K | Reduce -73.3% |
| NETDW Nabors Energy Transiti-CW | *W EXP 09/01/202 | 472,155 | $132K | No change |
| NXATW K Wave Media Ltd.-28 | *W EXP 05/14/203 | 910,853 | $132K | No change |
| MCGAW Yorkville Acquisition - 30 | *W EXP 06/06/203 | 107,280 | $129K | New |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 108,198 | $119K | Add +332.8% |
| SVCCW Stellar V Capital Corp.-Class-29 | *W EXP 10/15/202 | 335,762 | $117K | No change |
| NTWOW Newbury Street II Acq - 29 | *W EXP 06/01/203 | 443,780 | $113K | No change |
| CHACR Crane Harbor Acquisition-RTS | RIGHT 04/17/2030 | 35,130 | $109K | No change |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 300,805 | $108K | Add +0.7% |
| FLDDW Fold Holdings Inc. -23 | *W EXP 02/14/203 | 204,299 | $103K | Add +0.6% |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 271,579 | $101K | No change |
| ACHR.WS Archer Aviation Inc. -CW26 | *W EXP 09/16/202 | 43,837 | $96K | Reduce -77.0% |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 56,000 | $95K | Reduce -6.7% |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 33,473 | $89K | No change |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 23,398 | $86K | Add +1.4% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 86,000 | $85K | New |
| GSHRW Gesher Acquisition Corp. I-30 | *W EXP 10/31/203 | 226,262 | $76K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 372,908 | $75K | No change |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 140,625 | $72K | No change |
| ANSCW Agriculture & Natural Solu-W | *W EXP 10/01/202 | 262,100 | $70K | No change |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 289,368 | $69K | Add +92.9% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 74,000 | $67K | New |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 305,019 | $67K | Add +154.0% |
| RUMBW Rumble Inc.-CW28 | *W EXP 09/16/202 | 30,780 | $61K | No change |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 | 220,835 | $60K | No change |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 375,778 | $59K | No change |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 132,521 | $58K | Add +46.5% |
| XRPNW Armada Acquisition Corp - A | *W EXP 05/21/203 | 60,034 | $57K | No change |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | 31,250 | $54K | New |
| LVWR.WS Livewire Group Inc.-27 | *W EXP 09/26/202 | 748,037 | $54K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 20,000 | $54K | No change |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 144,586 | $53K | Reduce -52.9% |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 19,445 | $52K | Reduce -45.8% |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 80,613 | $52K | Add +1944.8% |
| ANNAW Aleanna Inc. Class A - 29 | *W EXP 12/13/202 | 265,398 | $50K | No change |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | 87,453 | $47K | No change |
| CCIIW Cohen Circle Acq II -30 | *W EXP 07/01/203 | 52,400 | $47K | New |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 184,594 | $47K | No change |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | 301,600 | $44K | New |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 158,948 | $42K | No change |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 27,500 | $41K | Reduce -90.0% |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | 207,222 | $40K | Add +452.6% |
| RTACW Renatus Tactical Acqu - 30 | *W EXP 05/15/203 | 32,500 | $39K | No change |
| CHPGR Championsgate Acquisition Co. | RIGHT 05/14/2030 | 34,142 | $38K | New |
| RNWWW Renew Energy Global -CW26 | *W EXP 08/21/202 | 833,864 | $38K | No change |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 36,000 | $37K | New |
| MRNOW Murano Global BV-28 | *W EXP 03/19/202 | 251,454 | $37K | No change |
| BBAI.WS Bigbear.ai Holdings -CW28 | *W EXP 12/08/202 | 16,662 | $35K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 134,326 | $34K | No change |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 29,000 | $33K | New |
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 548,901 | $32K | Add +9.7% |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 13,960 | $31K | No change |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 33,000 | $31K | New |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 14,132 | $30K | New |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 186,736 | $26K | New |
| DAAQW Digital Asset Acquisition-30 | *W EXP 04/01/203 | 42,970 | $26K | Add +24.6% |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 147,591 | $25K | Add +54.6% |
| LGL.WS LGL Group Inc./the -CW25 | *W EXP 11/16/202 | 12,215 | $23K | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 21,000 | $23K | Reduce -99.9% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 23,000 | $23K | New |
| ADSEW ADS-Tec Energy PLC-WRNT | *W EXP 99/99/999 | 20,099 | $23K | Reduce -20.4% |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | 100,000 | $21K | No change |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | 55,158 | $21K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 25,000 | $15K | New |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 49,400 | $14K | No change |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 14,000 | $13K | New |
| GCLWW GCL Global Holdings-A -CW26 | *W EXP 02/13/203 | 150,000 | $11K | No change |
| OABIW Omniab Inc. - CW26 | *W EXP 99/99/999 | 54,656 | $9K | No change |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | 91,835 | $9K | No change |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | 27,550 | $9K | No change |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 51,000 | $9K | No change |
Largest 200 of 211 shown.
Total filed on the 13F, all lines: $1.7B.
Portfolio Sells Q2 2025 → Q3 2025
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −1.43 |
| AZEK The Azek Co. Inc. | Sold out | 0.00% | −1.33 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −1.08 |
| XJEQX Abrdn Japan Equity Fund Inc. | Reduce -93.1% | 0.06% | −0.90 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.77 |
| CAEP Cantor Equity Partners III-A | Reduce -85.7% | 0.10% | −0.67 |
| DVN Devon Energy Corp. | Reduce -90.8% | 0.06% | −0.60 |
| INSM Insmed Inc. | Sold out | 0.00% | −0.51 |
| COP Conocophillips | Reduce -81.4% | 0.11% | −0.49 |
| VST Vistra Corp. | Sold out | 0.00% | −0.45 |
| OSIS Osi Systems Inc. | Sold out | 0.00% | −0.43 |
| XPHTX Pioneer High Income Fund | Sold out | 0.00% | −0.42 |
| RDFN Redfin Corp. | Sold out | 0.00% | −0.40 |
| HES Hess Corp. | Sold out | 0.00% | −0.40 |
| FAC Factorial Energy Inc. | Reduce -74.5% | 0.12% | −0.39 |
| BRR Columbus Circle Capital Co. Class A | Reduce -48.8% | 0.32% | −0.38 |
| CRAQ Cal Redwood Acquisit Class A | Reduce -77.7% | 0.10% | −0.37 |
| OBAWU Oxley Bridge Acquisition Ltd. | Sold out | 0.00% | −0.36 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.35 |
| RDAG Republic Digital Acquis Class A | Reduce -28.1% | 0.69% | −0.34 |
| CEPT Cantor Equity Partners Class A | Reduce -58.8% | 0.19% | −0.32 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −0.32 |
| OVV Ovintiv Inc. | Sold out | 0.00% | −0.31 |
| HAL Halliburton Co. | Reduce -90.5% | 0.04% | −0.31 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.30 |
| CNC Centene Corp. | Sold out | 0.00% | −0.30 |
| WENN Wen Acquisition Corp. Class A | Reduce -14.6% | 0.97% | −0.30 |
| FOX Fox Corp. Class B | Sold out | 0.00% | −0.29 |
| BTX BlackRock Tech & Priv Eqty | Sold out | 0.00% | −0.28 |
| CHRD Chord Energy Corp. | Sold out | 0.00% | −0.26 |
| SM SM Energy Co. | Sold out | 0.00% | −0.25 |
| FL Foot Locker Inc. | Sold out | 0.00% | −0.24 |
| GB Global Blue Group Holding AG | Sold out | 0.00% | −0.23 |
| BP BP PLC-Spons ADR | Reduce -52.7% | 0.24% | −0.23 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −0.23 |
| TACO Berto Acquisition Corp. | Reduce -88.7% | 0.03% | −0.23 |
| BULL Webull Corp. | Sold out | 0.00% | −0.23 |
| KR Kroger Co. | Sold out | 0.00% | −0.22 |
| AGS Playags Inc. | Sold out | 0.00% | −0.22 |
| TALO Talos Energy Inc. | Sold out | 0.00% | −0.21 |
| U Unity Software Inc. | Sold out | 0.00% | −0.21 |
| CHX Championx Corp. | Sold out | 0.00% | −0.21 |
| OMC Omnicom Group | Sold out | 0.00% | −0.20 |
| CIVI Civitas Resources Inc. | Reduce -89.7% | 0.03% | −0.20 |
| MDT Medtronic PLC | Reduce -69.3% | 0.09% | −0.20 |
| BACCU Blue Acquisition Corp. | Sold out | 0.00% | −0.20 |
| HRB H&R Block Inc. | Sold out | 0.00% | −0.20 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −0.20 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.19 |
| KHC The Kraft Heinz Co. | Reduce -80.7% | 0.04% | −0.18 |
Portfolio Buys Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | New | 2.47% | +2.47 |
| CHINA FUND INC | Add +409.9% | 2.23% | +1.85 |
| WOLF Wolfspeed Inc. | New | 1.50% | +1.50 |
| DMIIU Drugs Made in America Acquis | New | 1.42% | +1.42 |
| BDCIU BTC Development Corp. | New | 1.25% | +1.25 |
| CEPF Cantor Equity Partners Class A | New | 1.15% | +1.15 |
| ETNB 89BIO Inc. | New | 1.05% | +1.05 |
| VRNA Verona Pharma Ltd. | New | 0.86% | +0.86 |
| ARIS WATER SOLUTIONS INC-A | New | 0.73% | +0.73 |
| PSKY Paramount Skydance Class B | New | 0.69% | +0.69 |
| WDC Western Digital Corp. | Add +187.5% | 0.81% | +0.65 |
| FG MERGER II CORP | New | 0.61% | +0.61 |
| CYBR Cyberark Software Ltd./Israel | New | 0.49% | +0.49 |
| BE Bloom Energy Corp. Class A | Add +152.4% | 0.52% | +0.46 |
| CVX Chevron Corp. | New | 0.43% | +0.43 |
| COOP Mr Cooper Group Inc. | New | 0.40% | +0.40 |
| DKS Dick's Sporting Goods Inc. | New | 0.38% | +0.38 |
| CCII Cohen Circle Acquisit II - A | New | 0.37% | +0.37 |
| FCRS.U Futurecrest Acquisition Corp. | New | 0.37% | +0.37 |
| AR Antero Resources Corp. | New | 0.36% | +0.36 |
| EVAC Eqv Ventures Acquisition C-A | New | 0.32% | +0.32 |
| EQT Eqt Corp. | New | 0.31% | +0.31 |
| K Kellanova | Add +45.5% | 1.07% | +0.31 |
| SLV iShares Silver Trust | New | 0.31% | +0.31 |
| ZIMV Zimvie Inc. | New | 0.30% | +0.30 |
| IAU iShares Gold Trust | Add +4.8% | 2.35% | +0.30 |
| EFA iShares MSCI Eafe ETF | Add +117.6% | 0.52% | +0.27 |
| WNS WNS Holdings Ltd. | New | 0.27% | +0.27 |
| ALE Allete Inc. | Add +84.9% | 0.61% | +0.27 |
| NEE Nextera Energy Inc. | New | 0.26% | +0.26 |
| CVAC Curevac NV | New | 0.26% | +0.26 |
| DFSV Dimensional US Small Cap Val | Add +99.6% | 0.48% | +0.24 |
| GLD SPDR Gold Shares | Add +36.4% | 0.70% | +0.23 |
| EWZ iShares MSCI Brazil ETF | New | 0.22% | +0.22 |
| SMTC Semtech Corp. | Add +30.7% | 0.45% | +0.22 |
| SCS Steelcase Inc. Class A | New | 0.21% | +0.21 |
| IPG Interpublic Group of Cos Inc. | Add +66.2% | 0.43% | +0.19 |
| PM Philip Morris International | New | 0.19% | +0.19 |
| USA Liberty All Star Equity Fund | New | 0.18% | +0.18 |
| APACU Stonebridge Acquisition II C | New | 0.17% | +0.17 |
| CCRD Corecard Corp. | New | 0.17% | +0.17 |
| XPHDX Pioneer Floating Rate Fund | Add +135.4% | 0.30% | +0.16 |
| RRC Range Resources Corp. | New | 0.16% | +0.16 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.16% | +0.16 |
| FYBR Frontier Communications Pare | Add +185.7% | 0.25% | +0.16 |
| MCGA Yorkville Acquisition Corp. Class A | New | 0.15% | +0.15 |
| MDY State Street SPDR S&P Midcap | New | 0.14% | +0.14 |
| SPR Spirit Aerosystems Hold Class A | Add +62.1% | 0.41% | +0.14 |
| NSC Norfolk Southern Corp. | New | 0.13% | +0.13 |
| IBIT iShares Bitcoin Trust ETF | Add +20.6% | 0.78% | +0.13 |
Options Activity Q2 2025 → Q3 2025
| MSTR Strategy Inc. | put | Add +7.0% | 292,700 | $94.3M |
| GME Gamestop Corp. Class A | put | Add +10.4% | 1,590,000 | $43.4M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +31.3% | 63,000 | $42.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Reduce -40.5% | 44,000 | $29.3M |
| NEE Nextera Energy Inc. | call | Sold out | 239,500 | $16.6Mbefore exit |
| AAL American Airlines Group Inc. | put | Add +9.1% | 1,383,400 | $15.5M |
| SOFI Sofi Technologies Inc. | put | Add +8.5% | 574,900 | $15.2M |
| GLD SPDR Gold Shares | put | Add +34.6% | 35,000 | $12.4M |
| BPMC Blueprint Medicines Corp. | put | Sold out | 94,300 | $12.1Mbefore exit |
| PSKY Paramount Skydance Class B | put | New | 499,000 | $9.4M |
| IWP iShares Russell Mid-Cap Grow | put | Sold out | 62,100 | $8.6Mbefore exit |
| NIO Nio Inc. - ADR | put | Add +26.8% | 940,300 | $7.2M |
| MARA Mara Holdings Inc. | put | Add +11.8% | 349,000 | $6.4M |
| ECHO Echostar Corp. Class A | put | Add +75.6% | 78,950 | $6.0M |
| PARAA Paramount Global Class B | put | Sold out | 457,900 | $5.9Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | New | 70,000 | $5.7M |
| K Kellanova | put | Add +116.8% | 67,000 | $5.5M |
| KRE SS SPDR S&P Regional Bank | call | Sold out | 92,500 | $5.5Mbefore exit |
| EEM iShares MSCI Emerging Market | put | Reduce -25.4% | 100,000 | $5.3M |
| ETNB 89BIO Inc. | put | New | 356,000 | $5.2M |
| RIVN Rivian Automotive Inc. Class A | put | Reduce -7.0% | 346,700 | $5.1M |
| MP MP Materials Corp. | put | Add +63.7% | 74,800 | $5.0M |
| IGV iShares Expanded Tech-Softwa | call | Sold out | 45,700 | $5.0Mbefore exit |
| XLV SS Health Care Select Sector | put | Add +75.0% | 35,000 | $4.9M |
| IWP iShares Russell Mid-Cap Grow | call | Sold out | 33,000 | $4.6Mbefore exit |
| KRE SS SPDR S&P Regional Bank | put | Reduce -14.1% | 72,000 | $4.6M |
| ZS Zscaler Inc. | call | Sold out | 14,500 | $4.6Mbefore exit |
| IBIT iShares Bitcoin Trust ETF | call | Add +113.3% | 64,000 | $4.2M |
| SMCI Super Micro Computer Inc. | put | Reduce -8.1% | 79,800 | $3.8M |
| HIMS Hims & Hers Health Inc. | put | Add +220.0% | 64,000 | $3.6M |
| ALE Allete Inc. | put | Add +54300.0% | 54,400 | $3.6M |
| TLT iShares 20+ Year Treasury BD | call | Reduce -78.3% | 40,000 | $3.6M |
| XLE SS Energy Select Sector | put | Add +3.9% | 39,600 | $3.5M |
| ARKK ARK Innovation ETF | call | Reduce -71.3% | 38,500 | $3.3M |
| COIN Coinbase Global Inc. Class A | put | Reduce -36.3% | 8,600 | $2.9M |
| APLD Applied Digital Corp. | put | Add +701.3% | 120,200 | $2.8M |
| K Kellanova | call | Reduce -27.0% | 31,900 | $2.6M |
| RIOT Riot Platforms Inc. | put | Add +110.1% | 133,600 | $2.5M |
| VERV Verve Therapeutics Inc. | put | Sold out | 223,600 | $2.5Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | Sold out | 31,100 | $2.5Mbefore exit |
| RUN Sunrun Inc. | put | Add +8.8% | 142,000 | $2.5M |
| PYPL PayPal Holdings Inc. | call | Sold out | 31,000 | $2.3Mbefore exit |
| XLF SS Financial Select Sector | put | Add +700.0% | 40,000 | $2.2M |
| HTZ Hertz Global Hldgs Inc. | put | Reduce -7.4% | 311,200 | $2.1M |
| QBTS D-Wave Quantum Inc. | put | New | 85,100 | $2.1M |
| QS Quantumscape Corp. | put | Add +187.9% | 166,100 | $2.0M |
| SPHR Sphere Entertainment Co. | put | New | 32,500 | $2.0M |
| W Wayfair Inc. Class A | put | Reduce -2.6% | 22,400 | $2.0M |
| PLTR Palantir Technologies Inc. Class A | put | Add +92.7% | 10,600 | $1.9M |
| ROKU Roku Inc. | call | Sold out | 22,000 | $1.9Mbefore exit |
Showing the first 50 of 378.
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
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | Add +8.8% | 62,382,000 | $76.7M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Add +290.7% | 45,256,000 | $73.4M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +20.2% | 62,574,000 | $66.3M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +160.8% | 35,464,000 | $49.5M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Add +21.4% | 25,518,000 | $38.5M |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | Add +324.6% | 18,936,000 | $36.4M |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Add +20.6% | 17,191,000 | $35.7M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | New | 14,408,709 | $35.4M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Sold out | 19,458,000 | $35.0Mbefore exit |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | New | 24,500,000 | $33.9M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | New | 13,500,000 | $32.6M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 761,694 | $30.3Mbefore exit |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | Add +7.0% | 22,822,000 | $27.5M |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | New | 14,500,000 | $27.5M |
| IMAX CORP (IMAX 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | Sold out | 22,650,000 | $25.5Mbefore exit |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | New | 11,240,000 | $25.2M |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | Reduce -20.1% | 11,897,000 | $21.2M |
| TRAVERE THERAPEUTICS INC (TVTX 2.5 09/15/25) | NOTE 2.500% 9/1 · principal | Sold out | 21,110,000 | $20.9Mbefore exit |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | New | 16,000,000 | $19.5M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | Reduce -17.7% | 13,976,000 | $16.8M |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | Reduce -1.5% | 276,272 | $16.7M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | New | 10,859,000 | $16.5M |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | Sold out | 12,500,000 | $15.6Mbefore exit |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | Reduce -22.7% | 8,037,000 | $12.6M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | New | 11,261,000 | $11.9M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | Reduce -30.2% | 1,019,186 | $11.9M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Sold out | 10,282,000 | $11.7Mbefore exit |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Sold out | 10,000,000 | $11.3Mbefore exit |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | New | 39,853 | $10.8M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | Reduce -71.0% | 10,000,000 | $10.3M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Reduce -69.4% | 10,199,000 | $10.1M |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Add +365.9% | 138,969 | $9.9M |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | New | 7,352,000 | $9.8M |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | Sold out | 13,160,000 | $9.4Mbefore exit |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | New | 8,274,000 | $8.2M |
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | Add +6.3% | 303,909 | $7.6M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | Add +124.3% | 136,315 | $7.6M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Add +12.8% | 5,639,000 | $7.1M |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | Sold out | 61,491 | $7.1Mbefore exit |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | Add +250.0% | 7,000,000 | $6.9M |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | Reduce -34.5% | 6,692,000 | $6.9M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +150.0% | 7,500,000 | $6.9M |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | Add +7.0% | 7,105,000 | $6.8M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +36.6% | 7,036,000 | $6.6M |
| CANADIAN SOLAR INC (CSIQ 2.5 10/01/25) | NOTE 2.500%10/0 · principal | Sold out | 6,732,000 | $6.6Mbefore exit |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | New | 6,500,000 | $6.5M |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | Reduce -16.2% | 4,400,000 | $6.0M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Add +60.0% | 4,000,000 | $5.6M |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | New | 5,000,000 | $5.6M |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | Add +62.5% | 5,200,000 | $5.5M |
Showing the first 50 of 194.
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 |