Daiwa Securities Group Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Daiwa Securities Group Inc. reported 1,322 stock positions worth $30.8 billion. Its top holding was Nvidia (NVDA) at 5.9% of the portfolio, followed by Apple (AAPL, 5.2%) and Microsoft (MSFT, 5.0%). Compared with Q3 2025, it opened 84 new positions, sold out of 81, added to 698 and reduced 350. The biggest buy was Palantir Technologies Class A (PLTR, shares +638%) and the biggest sale ServiceNow (NOW, shares −93%).
- Most Recent 13F
- Q2 2026
- Location
- CHIYODA-KU,TOKYO, M0
- CIK
- 0001481045
- Portfolio Value
- $30.8B (Q4 2025)
- SEC Filing
- 0001481045-26-000001 ↗ filed Feb 11, 2026
Holdings Value
Holdings 1,322 stocks · $30.8B
| NVDA Nvidia Corp. | 5.88% | 9,696,468 | $1.8B | Add +7.7% |
| AAPL Apple Inc. | 5.17% | 5,848,633 | $1.6B | Add +0.5% |
| MSFT Microsoft Corp. | 4.98% | 3,163,712 | $1.5B | Add +9.5% |
| AMZN Amazon.com Inc. | 4.12% | 5,482,783 | $1.3B | Add +13.8% |
| GOOGL Alphabet Inc. Class A | 3.64% | 3,573,641 | $1.1B | Reduce -2.7% |
| AVGO Broadcom Inc. | 3.53% | 3,136,360 | $1.1B | Add +10.9% |
| META Meta Platforms Inc. Class A | 3.31% | 1,543,750 | $1.0B | Add +21.7% |
| WELL Welltower Inc. | 2.70% | 4,477,906 | $831.1M | Reduce -8.8% |
| PLTR Palantir Technologies Inc. Class A | 2.58% | 4,459,068 | $792.6M | Add +637.5% |
| NFLX Netflix Inc. | 2.55% | 8,350,980 | $783.0M | Add +36.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 2.32% | 1,520,259 | $712.6M | Add +6.6% |
| DLR Digital Realty Trust Inc. | 2.29% | 4,546,218 | $703.3M | Add +10.4% |
| PLD Prologis Inc. | 2.00% | 4,812,501 | $614.4M | Reduce -9.4% |
| CCI Crown Castle Inc. | 1.25% | 4,312,955 | $383.3M | Add +9.7% |
| EQIX Equinix Inc. | 1.24% | 496,156 | $380.1M | Add +4.2% |
| GOOG Alphabet Inc. Class C | 1.23% | 1,204,856 | $378.1M | Add +8.5% |
| VTR Ventas Inc. | 1.18% | 4,705,591 | $364.1M | Add +188.7% |
| EXR Extra Space Storage Inc. | 1.18% | 2,776,654 | $361.6M | Add +7.2% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.99% | 3,654,086 | $303.1M | Add +16.0% |
| SPG Simon Property Group Inc. | 0.98% | 1,626,959 | $301.2M | Reduce -12.6% |
| ESS Essex Property Trust Inc. | 0.94% | 1,105,973 | $289.4M | Reduce -4.5% |
| TSLA Tesla Inc. | 0.93% | 638,652 | $287.2M | Add +4.1% |
| INVH Invitation Homes Inc. | 0.88% | 9,760,152 | $271.2M | Reduce -32.6% |
| KIM Kimco Realty Corp. | 0.77% | 11,731,317 | $237.8M | Reduce -3.8% |
| ELS Equity Lifestyle Properties | 0.72% | 3,656,490 | $221.6M | Add +16.2% |
| PSA Public Storage | 0.71% | 837,705 | $217.4M | Add +15.1% |
| BXP BXP Inc. | 0.67% | 3,065,995 | $206.9M | Add +52.4% |
| UDR Udr Inc. | 0.62% | 5,196,447 | $190.6M | Reduce -5.8% |
| MU Micron Technology Inc. | 0.61% | 662,155 | $189.0M | Add +90.1% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.61% | 1,511,146 | $187.2M | Reduce -16.3% |
| HST Host Hotels & Resorts Inc. | 0.60% | 10,436,837 | $185.0M | Reduce -27.2% |
| PG The Procter & Gamble Co. | 0.60% | 1,287,416 | $184.5M | Add +180.2% |
| IVV iShares Core S&P 500 ETF | 0.59% | 262,883 | $180.1M | Add +17.9% |
| JPM JPMorgan Chase & Co. | 0.57% | 541,340 | $174.4M | Add +3.5% |
| O Realty Income Corp. | 0.53% | 2,910,796 | $164.1M | Reduce -26.7% |
| ADC Agree Realty Corp. | 0.53% | 2,262,991 | $163.0M | Reduce -4.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.51% | 253,762 | $155.9M | Add +13.5% |
| LLY Eli Lilly & Co. | 0.48% | 137,658 | $147.9M | Add +6.7% |
| HR Healthcare Realty Trust Inc. | 0.48% | 8,632,087 | $146.3M | Reduce -19.3% |
| AXP American Express Co. | 0.47% | 392,161 | $145.1M | Add +129.0% |
| IBN Icici Bank Ltd.-Spon ADR | 0.47% | 4,862,631 | $144.9M | Add +4.7% |
| LAMR Lamar Advertising Co. Class A | 0.46% | 1,107,328 | $140.2M | Reduce -25.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.44% | 270,209 | $135.8M | Add +9.0% |
| KRC Kilroy Realty Corp. | 0.42% | 3,491,846 | $130.5M | Reduce -2.4% |
| V Visa Inc. Class A | 0.42% | 370,422 | $129.9M | Reduce -0.8% |
| COST Costco Wholesale Corp. | 0.40% | 143,184 | $123.5M | Add +4.4% |
| EGP Eastgroup Properties Inc. | 0.40% | 692,493 | $123.4M | Reduce -2.7% |
| EPRT Essential Properties Realty | 0.39% | 3,997,593 | $118.6M | Add +4681.4% |
| GS Goldman Sachs Group Inc. | 0.38% | 131,621 | $115.7M | Add +0.8% |
| JNJ Johnson & Johnson | 0.37% | 544,488 | $112.7M | Add +0.9% |
| AMD Advanced Micro Devices | 0.36% | 513,846 | $110.0M | Add +7.8% |
| OHI Omega Healthcare Investors | 0.35% | 2,440,207 | $108.2M | Reduce -20.2% |
| CAT Caterpillar Inc. | 0.32% | 171,467 | $98.2M | Add +3.2% |
| MA Mastercard Inc. Class A | 0.31% | 167,269 | $95.5M | Add +1.3% |
| CSCO Cisco Systems Inc. | 0.31% | 1,223,165 | $94.2M | Add +0.6% |
| IBIT iShares Bitcoin Trust ETF | 0.31% | 1,895,000 | $94.1M | New |
| WMT Walmart Inc. | 0.29% | 810,687 | $90.3M | Reduce -0.4% |
| XOM Exxon Mobil Corp. | 0.29% | 750,258 | $90.3M | Reduce -0.6% |
| WY Weyerhaeuser Co. | 0.28% | 3,693,020 | $87.5M | Reduce -30.6% |
| INFY Infosys Ltd.-SP ADR | 0.28% | 4,796,200 | $85.5M | Add +26.5% |
| HD Home Depot Inc. | 0.28% | 247,926 | $85.3M | Add +1.8% |
| CTRE Caretrust REIT Inc. | 0.27% | 2,316,967 | $83.8M | Reduce -28.4% |
| RHP Ryman Hospitality Properties | 0.26% | 843,888 | $79.8M | Reduce -5.2% |
| ABBV Abbvie Inc. | 0.26% | 344,320 | $78.7M | Add +2.3% |
| AMGN Amgen Inc. | 0.25% | 238,742 | $78.1M | Add +1.4% |
| UNH Unitedhealth Group Inc. | 0.25% | 231,613 | $76.5M | Add +2.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 236,264 | $70.0M | Add +2.0% |
| CRM Salesforce Inc. | 0.22% | 256,869 | $68.0M | Add +1.1% |
| PM Philip Morris International | 0.21% | 401,515 | $64.4M | Add +5.3% |
| LIN Linde PLC | 0.21% | 148,907 | $63.5M | Add +16.0% |
| CURB Curbline Properties Corp. | 0.20% | 2,703,509 | $62.7M | Reduce -2.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.20% | 1,126,654 | $62.0M | Add +1.3% |
| MCD McDonald's Corp. | 0.20% | 200,443 | $61.3M | Add +1.7% |
| ORCL Oracle Corp. | 0.20% | 314,071 | $61.2M | Add +3.5% |
| LRCX Lam Research Corp. | 0.20% | 357,094 | $61.1M | Add +4.2% |
| GE General Electric filed as GE AEROSPACE | 0.20% | 197,921 | $61.0M | Add +12.0% |
| GEV GE Vernova Inc. | 0.20% | 93,218 | $60.9M | Add +34.1% |
| QCOM Qualcomm Inc. | 0.20% | 355,475 | $60.8M | Add +2.7% |
| CVX Chevron Corp. | 0.20% | 393,838 | $60.0M | Add +1.2% |
| KO The Coca-Cola Co. | 0.19% | 843,606 | $59.0M | Add +7.0% |
| INTC Intel Corp. | 0.19% | 1,597,641 | $59.0M | Add +1.4% |
| ADBE Adobe Inc. | 0.19% | 166,888 | $58.4M | Reduce -1.2% |
| BKNG Booking Holdings Inc. | 0.19% | 10,859 | $58.2M | Reduce -0.2% |
| PEP Pepsico Inc. | 0.19% | 400,366 | $57.5M | Add +4.6% |
| INTU Intuit Inc. | 0.19% | 86,244 | $57.1M | Reduce -0.4% |
| ISRG Intuitive Surgical Inc. | 0.18% | 98,413 | $55.7M | Reduce -8.1% |
| HIW Highwoods Properties Inc. | 0.18% | 2,119,235 | $54.7M | Reduce -3.9% |
| APP AppLovin Corp. Class A | 0.18% | 80,276 | $54.1M | Reduce -8.5% |
| MRK Merck & Co. Inc. | 0.17% | 492,451 | $51.8M | Reduce -12.9% |
| AMAT Applied Materials Inc. | 0.17% | 201,342 | $51.7M | Add +5.1% |
| KLAC KLA Corp. | 0.16% | 40,560 | $49.3M | Add +4.2% |
| WFC Wells Fargo & Co. | 0.16% | 516,347 | $48.1M | Add +2.0% |
| HON Honeywell International Inc. | 0.15% | 241,637 | $47.1M | Add +3.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.15% | 395,144 | $45.0M | Reduce -3.6% |
| BA The Boeing Co. | 0.15% | 206,589 | $44.9M | Add +1.0% |
| T AT&T Inc. | 0.15% | 1,797,577 | $44.7M | Add +3.0% |
| VZ Verizon Communications Inc. | 0.14% | 1,048,992 | $42.7M | Reduce -0.5% |
| TXN Texas Instruments Inc. | 0.14% | 246,203 | $42.7M | Add +4.5% |
| SHW The Sherwin-Williams Co. | 0.13% | 125,383 | $40.6M | Add +5.3% |
| GILD Gilead Sciences Inc. | 0.13% | 329,407 | $40.4M | Reduce -12.2% |
Options reported separately and not counted above: PG puts ($114.6M), MU puts ($94.2M), IBIT puts ($94.1M), AXP puts ($81.4M), SPY puts ($34.1M), AMZN puts ($25.4M), GOOG puts ($25.1M), AKAM puts ($5.2M), EOSE puts ($4.6M), MTD puts ($2.8M), DOCN calls ($2.4M), MSTR puts ($2.3M), and 15 more.
Other holdings (11): bonds, preferreds, convertibles and warrants · $55.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 10,000,000 | $13.7M | New |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 7,500,000 | $7.8M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 7,500,000 | $7.6M | Add +7.1% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 7,500,000 | $7.4M | New |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 7,500,000 | $7.2M | Add +50.0% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 4,500,000 | $5.1M | New |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 5,000,000 | $4.6M | Reduce -37.5% |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 2,862,000 | $1.9M | Add +53.7% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 21,704 | $414K | No change |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 1,881 | $89K | Reduce -8.2% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 3,000 | $75K | Reduce -25.0% |
Total filed on the 13F, all lines: $30.8B.
Portfolio Sells Q3 2025 → Q4 2025
| NOW ServiceNow Inc. | Reduce -93.1% | 0.12% | −2.00 |
| CPTL GBL X MRST CP Alc LDR ETF-Ui | Reduce -99.9% | 0.00% | −1.33 |
| INVH Invitation Homes Inc. | Reduce -32.6% | 0.88% | −0.56 |
| VICI Vici Properties Inc. | Reduce -82.8% | 0.07% | −0.43 |
| O Realty Income Corp. | Reduce -26.7% | 0.53% | −0.28 |
| WELL Welltower Inc. | Reduce -8.8% | 2.70% | −0.26 |
| HST Host Hotels & Resorts Inc. | Reduce -27.2% | 0.60% | −0.23 |
| SPG Simon Property Group Inc. | Reduce -12.6% | 0.98% | −0.21 |
| SUI Sun Communities Inc. | Reduce -16.3% | 0.61% | −0.18 |
| HR Healthcare Realty Trust Inc. | Reduce -19.3% | 0.48% | −0.18 |
| WY Weyerhaeuser Co. | Reduce -30.6% | 0.28% | −0.16 |
| LAMR Lamar Advertising Co. Class A | Reduce -25.1% | 0.46% | −0.16 |
| KIM Kimco Realty Corp. | Reduce -3.8% | 0.77% | −0.13 |
| ESS Essex Property Trust Inc. | Reduce -4.5% | 0.94% | −0.11 |
| CTRE Caretrust REIT Inc. | Reduce -28.4% | 0.27% | −0.11 |
| KRC Kilroy Realty Corp. | Reduce -2.4% | 0.42% | −0.09 |
| OHI Omega Healthcare Investors | Reduce -20.2% | 0.35% | −0.09 |
| UDR Udr Inc. | Reduce -5.8% | 0.62% | −0.08 |
| PLD Prologis Inc. | Reduce -9.4% | 2.00% | −0.06 |
| COLD Americold Realty Trust Inc. | Reduce -49.3% | 0.07% | −0.06 |
| HIW Highwoods Properties Inc. | Reduce -3.9% | 0.18% | −0.06 |
| MAA Mid-America Apartment Comm | Reduce -65.5% | 0.03% | −0.06 |
| AGNG GLB X Aging Population ETF | Reduce -91.1% | 0.00% | −0.05 |
| UBER Uber Technologies Inc. | Reduce -10.6% | 0.11% | −0.04 |
| EXP Eagle Materials Inc. | Sold out | 0.00% | −0.04 |
| ADC Agree Realty Corp. | Reduce -4.2% | 0.53% | −0.04 |
| VRT Vertiv Holdings Co. Class A | Reduce -53.0% | 0.04% | −0.04 |
| APP AppLovin Corp. Class A | Reduce -8.5% | 0.18% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.03 |
| SOCL Global X Social Media ETF | Reduce -58.8% | 0.02% | −0.03 |
| EPR Epr Properties | Reduce -84.4% | 0.01% | −0.03 |
| MELI MercadoLibre Inc. | Reduce -21.2% | 0.06% | −0.03 |
| FERG Ferguson Enterprises Inc. | Reduce -54.8% | 0.02% | −0.03 |
| ETN Eaton Corp. PLC | Reduce -4.0% | 0.11% | −0.03 |
| TMUS T-Mobile US Inc. | Reduce -1.9% | 0.12% | −0.03 |
| EME Emcor Group Inc. | Reduce -27.1% | 0.06% | −0.03 |
| SE Sea Ltd.-ADR | Reduce -37.8% | 0.02% | −0.03 |
| CDNS Cadence Design SYS Inc. | Reduce -7.4% | 0.11% | −0.03 |
| TT Trane Technologies PLC | Reduce -8.3% | 0.12% | −0.03 |
| BRX Brixmor Property Group Inc. | Reduce -71.5% | 0.01% | −0.03 |
| URI United Rentals Inc. | Reduce -18.3% | 0.06% | −0.03 |
| FISV Fiserv Inc. | Reduce -9.0% | 0.02% | −0.03 |
| VLTO Veralto Corp. | Reduce -45.8% | 0.02% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -12.8% | 0.06% | −0.02 |
| ACM Aecom | Reduce -43.0% | 0.02% | −0.02 |
| HEAL Global X Healthtech ETF | Reduce -54.0% | 0.02% | −0.02 |
| FAST Fastenal Co. | Reduce -4.9% | 0.06% | −0.02 |
| AZO AutoZone Inc. | Reduce -22.7% | 0.03% | −0.02 |
| HERO Global X Video Games& Esport | Reduce -40.7% | 0.02% | −0.02 |
| PWR Quanta Services Inc. | Reduce -15.7% | 0.09% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| PLTR Palantir Technologies Inc. Class A | Add +637.5% | 2.58% | +2.20 |
| VTR Ventas Inc. | Add +188.7% | 1.18% | +0.80 |
| AMZN Amazon.com Inc. | Add +13.8% | 4.12% | +0.53 |
| MU Micron Technology Inc. | Add +90.1% | 0.61% | +0.42 |
| EPRT Essential Properties Realty | Add +4681.4% | 0.39% | +0.38 |
| AVGO Broadcom Inc. | Add +10.9% | 3.53% | +0.37 |
| PG The Procter & Gamble Co. | Add +180.2% | 0.60% | +0.36 |
| GOOG Alphabet Inc. Class C | Add +8.5% | 1.23% | +0.31 |
| IBIT iShares Bitcoin Trust ETF | New | 0.31% | +0.31 |
| AXP American Express Co. | Add +129.0% | 0.47% | +0.28 |
| NVDA Nvidia Corp. | Add +7.7% | 5.88% | +0.18 |
| BXP BXP Inc. | Add +52.4% | 0.67% | +0.17 |
| META Meta Platforms Inc. Class A | Add +21.7% | 3.31% | +0.16 |
| LLY Eli Lilly & Co. | Add +6.7% | 0.48% | +0.15 |
| AAPL Apple Inc. | Add +0.5% | 5.17% | +0.15 |
| AMD Advanced Micro Devices | Add +7.8% | 0.36% | +0.10 |
| IVV iShares Core S&P 500 ETF | Add +17.9% | 0.59% | +0.08 |
| ELS Equity Lifestyle Properties | Add +16.2% | 0.72% | +0.07 |
| AVAV Aerovironment Inc. | Add +1587.8% | 0.08% | +0.07 |
| NFLX Netflix Inc. | Add +36.9% | 2.55% | +0.07 |
| BKSY Blacksky Technology Inc. | New | 0.05% | +0.05 |
| GEV GE Vernova Inc. | Add +34.1% | 0.20% | +0.05 |
| QQQ Invesco QQQ Trust Series 1 | Add +13.5% | 0.51% | +0.05 |
| CAT Caterpillar Inc. | Add +3.2% | 0.32% | +0.05 |
| RGEN Repligen Corp. | Add +154.3% | 0.07% | +0.05 |
| LRCX Lam Research Corp. | Add +4.2% | 0.20% | +0.04 |
| SITM Sitime Corp. | Add +325.3% | 0.05% | +0.04 |
| FLS Flowserve Corp. | New | 0.04% | +0.04 |
| RRX Regal Rexnord Corp. | New | 0.04% | +0.04 |
| AMCR Amcor PLC | Add +4.0% | 0.05% | +0.04 |
| AMAT Applied Materials Inc. | Add +5.1% | 0.17% | +0.04 |
| FIX Comfort Systems USA Inc. | Add +782.0% | 0.04% | +0.03 |
| AA Alcoa Corp. | New | 0.03% | +0.03 |
| AME Ametek Inc. | Add +37.9% | 0.10% | +0.03 |
| KRMN Karman Holdings Inc. | Add +74.6% | 0.07% | +0.03 |
| AMGN Amgen Inc. | Add +1.4% | 0.25% | +0.03 |
| QTUM Defiance Quantum ETF | Add +97.5% | 0.06% | +0.03 |
| CRS Carpenter Technology | New | 0.03% | +0.03 |
| JNJ Johnson & Johnson | Add +0.9% | 0.37% | +0.03 |
| TSM Taiwan Semiconductor-SP ADR | Add +23.5% | 0.12% | +0.03 |
| CSCO Cisco Systems Inc. | Add +0.6% | 0.31% | +0.02 |
| WDC Western Digital Corp. | Add +45.7% | 0.05% | +0.02 |
| EXPE Expedia Group Inc. | Add +100.2% | 0.04% | +0.02 |
| CRH CRH PLC | Add +41.2% | 0.08% | +0.02 |
| LEU Centrus Energy Corp. Class A | Add +152.5% | 0.05% | +0.02 |
| GS Goldman Sachs Group Inc. | Add +0.8% | 0.38% | +0.02 |
| GM General Motors Co. | Add +11.7% | 0.07% | +0.02 |
| INSM Insmed Inc. | Add +961.6% | 0.02% | +0.02 |
| STX Seagate Technology Holdings | Add +48.9% | 0.05% | +0.02 |
| PYPL PayPal Holdings Inc. | Add +58.6% | 0.08% | +0.02 |
Options Activity Q3 2025 → Q4 2025
| PG The Procter & Gamble Co. | put | New | 800,000 | $114.6M |
| MU Micron Technology Inc. | put | New | 330,000 | $94.2M |
| IBIT iShares Bitcoin Trust ETF | put | New | 1,895,000 | $94.1M |
| AXP American Express Co. | put | New | 220,000 | $81.4M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 50,000 | $34.1M |
| AMZN Amazon.com Inc. | put | New | 110,000 | $25.4M |
| GOOG Alphabet Inc. Class C | put | New | 80,000 | $25.1M |
| AKAM Akamai Technologies Inc. | put | New | 60,000 | $5.2M |
| EOSE Eos Energy Enterprises Inc. | put | New | 400,000 | $4.6M |
| MTD Mettler-Toledo International | put | New | 2,000 | $2.8M |
| DOCN Digitalocean Holdings Inc. | call | New | 50,000 | $2.4M |
| MSTR Strategy Inc. | put | New | 15,000 | $2.3M |
| BILL Bill Holdings Inc. | call | New | 35,000 | $1.9M |
| LCID Lucid Group Inc. | put | New | 140,000 | $1.5M |
| F Ford Motor Co. | put | New | 100,000 | $1.3M |
| VG Venture Global Inc. Class A | put | New | 139,400 | $951K |
| TLRY Tilray Brands Inc. | put | New | 75,500 | $682K |
| BTDR Bitdeer Technologies Group-A | put | New | 50,000 | $561K |
| BTQ BTQ Technologies Corp. | put | New | 92,900 | $476K |
| RCAT Red Cat Holdings Inc. | put | New | 56,200 | $446K |
| BBAI Bigbear.ai Holdings Inc. | put | New | 41,400 | $224K |
| FRMI Fermi Inc. | put | New | 13,300 | $106K |
| VUZI Vuzix Corp. | call | New | 22,700 | $86K |
| VUZI Vuzix Corp. | put | New | 12,000 | $45K |
| SPCE Virgin Galactic Holdings Inc. | put | New | 13,400 | $43K |
| CGC Canopy Growth Corp. | put | New | 13,900 | $16K |
| ONDS Ondas Inc. | put | New | 1,100 | $11K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Sold out | 35,000,000 | $44.0Mbefore exit |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Sold out | 25,000,000 | $24.7Mbefore exit |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | Sold out | 15,000,000 | $18.4Mbefore exit |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | New | 10,000,000 | $13.7M |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | Sold out | 12,800,000 | $12.4Mbefore exit |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +7.1% | 7,500,000 | $7.6M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | New | 7,500,000 | $7.4M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Add +50.0% | 7,500,000 | $7.2M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | New | 4,500,000 | $5.1M |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Sold out | 5,000,000 | $4.9Mbefore exit |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Reduce -37.5% | 5,000,000 | $4.6M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Sold out | 4,750,000 | $4.5Mbefore exit |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | Sold out | 2,500,000 | $2.5Mbefore exit |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | Add +53.7% | 2,862,000 | $1.9M |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | Reduce -8.2% | 1,881 | $89K |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Reduce -25.0% | 3,000 | $75K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,113 | $44.1B | NVDA, MSFT, AAPL, GOOGL, AVGO |
| Q1 2026 | 1,094 | $34.5B | NVDA, MSFT, AAPL, GOOGL, AVGO |
| Q4 2025 | 1,322 | $30.8B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 1,318 | $29.5B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q2 2025 | 1,286 | $27.0B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,266 | $23.6B | AAPL, MSFT, NVDA, WELL, AMZN |
| Q4 2024 | 1,259 | $22.2B | AAPL, NVDA, MSFT, WELL, DLR |
| Q3 2024 | 1,259 | $21.4B | WELL, AAPL, DLR, MSFT, PLD |
| Q2 2024 | 1,296 | $18.5B | PLD, WELL, DLR, MSFT, AAPL |
| Q1 2024 | 1,294 | $17.4B | PLD, WELL, SPG, DLR, MSFT |