Deutsche Bank AG

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Deutsche Bank AG reported 3,499 stock positions worth $306.7 billion. Its top holding was Nvidia (NVDA) at 5.5% of the portfolio, followed by Microsoft (MSFT, 5.0%) and Apple (AAPL, 4.1%). Compared with Q3 2025, it opened 143 new positions, sold out of 119, added to 1,916 and reduced 1,160. The biggest buy was Totalenergies (TTE, shares +582774%) and the biggest sale Microsoft (MSFT, shares −1%).

Most Recent 13F
Q2 2026
Location
FRANKFURT AM MAIN, 2M
CIK
0000948046
Portfolio Value
$306.7B (Q4 2025)
SEC Filing
0000948046-26-000008 ↗ filed Feb 11, 2026

Holdings Value

0$100.0B$200.0B$300.0B$400.0B Q1 2024: $215.0B Q1 2024 Q2 2024: $221.3B Q2 2024 Q3 2024: $245.2B Q3 2024 Q4 2024: $254.9B Q4 2024 Q1 2025: $251.9B Q1 2025 Q2 2025: $271.1B Q2 2025 Q3 2025: $298.0B Q3 2025 Q4 2025: $306.7B $306.7B Q4 2025 Q1 2026: $302.3B Q1 2026 Q2 2026: $343.9B Q2 2026

Holdings 3,499 stocks · $306.7B
NVDA Nvidia Corp. 5.50% 90,446,907 $16.9B Add +0.1%
MSFT Microsoft Corp. 5.00% 31,734,061 $15.3B Reduce -1.3%
AAPL Apple Inc. 4.12% 46,428,100 $12.6B Reduce -1.4%
GOOGL Alphabet Inc. Class A 3.24% 31,786,670 $9.9B Reduce -14.5%
AMZN Amazon.com Inc. 2.30% 30,618,765 $7.1B Reduce -7.1%
GOOG Alphabet Inc. Class C 1.72% 16,817,671 $5.3B Reduce -10.6%
META Meta Platforms Inc. Class A 1.66% 7,702,059 $5.1B Reduce -11.4%
AVGO Broadcom Inc. 1.56% 13,828,369 $4.8B Reduce -10.3%
LLY Eli Lilly & Co. 1.33% 3,807,637 $4.1B Add +16.1%
TSLA Tesla Inc. 1.18% 8,022,042 $3.6B Reduce -8.8%
JPM JPMorgan Chase & Co. 1.07% 10,190,594 $3.3B Add +3.0%
V Visa Inc. Class A 1.01% 8,825,667 $3.1B Reduce -7.5%
JNJ Johnson & Johnson 0.91% 13,494,166 $2.8B Reduce -2.8%
TTE Totalenergies SE 0.86% 40,393,172 $2.6B Add +582774.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.85% 47,172,503 $2.6B Add +5.9%
ABBV Abbvie Inc. 0.75% 10,129,714 $2.3B Add +7.1%
DB Deutsche Bank AG-Registered 0.71% 56,750,099 $2.2B Reduce -34.0%
PLTR Palantir Technologies Inc. Class A 0.64% 11,011,757 $2.0B Add +11.5%
AMD Advanced Micro Devices 0.64% 9,124,413 $2.0B Add +0.4%
MA Mastercard Inc. Class A 0.62% 3,336,603 $1.9B Add +8.1%
ENB Enbridge Inc. 0.58% 37,132,967 $1.8B Reduce -6.1%
MDT Medtronic PLC 0.56% 17,748,234 $1.7B Add +0.1%
LIN Linde PLC 0.55% 3,941,719 $1.7B Add +40.2%
AMAT Applied Materials Inc. 0.54% 6,424,473 $1.7B Reduce -1.8%
BKNG Booking Holdings Inc. 0.51% 293,553 $1.6B Add +3.4%
NFLX Netflix Inc. 0.51% 16,586,252 $1.6B Add +6.8%
BRK.B Berkshire Hathaway Inc. Class B 0.51% 3,090,790 $1.6B Reduce -1.3%
WMT Walmart Inc. 0.48% 13,292,602 $1.5B Add +4.5%
AEM Agnico Eagle Mines Ltd. 0.47% 8,570,961 $1.5B Add +4.2%
ABT Abbott Laboratories 0.47% 11,579,433 $1.5B Add +8.8%
ADBE Adobe Inc. 0.46% 3,997,588 $1.4B Add +3.9%
NEE Nextera Energy Inc. 0.45% 17,281,357 $1.4B Add +2.9%
UBS UBS Group AG-Reg 0.45% 29,605,781 $1.4B Add +19.1%
PEP Pepsico Inc. 0.45% 9,511,450 $1.4B Add +0.4%
MRK Merck & Co. Inc. 0.44% 12,788,311 $1.3B Reduce -24.1%
MU Micron Technology Inc. 0.42% 4,549,881 $1.3B Add +11.7%
ORCL Oracle Corp. 0.42% 6,545,337 $1.3B Add +4.4%
CSCO Cisco Systems Inc. 0.41% 16,387,458 $1.3B Add +2.4%
HD Home Depot Inc. 0.40% 3,597,504 $1.2B Reduce -16.0%
XOM Exxon Mobil Corp. 0.40% 10,281,907 $1.2B Add +1.4%
COST Costco Wholesale Corp. 0.40% 1,414,746 $1.2B Add +25.7%
ANET Arista Networks Inc. 0.40% 9,307,396 $1.2B Add +8.4%
AMT American Tower Corp. 0.40% 6,909,301 $1.2B Reduce -8.3%
WMB Williams Cos Inc. 0.39% 20,036,698 $1.2B Add +1.2%
PGR Progressive Corp. 0.38% 5,163,933 $1.2B Reduce -5.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.38% 3,919,493 $1.2B Add +8.6%
KO The Coca-Cola Co. 0.37% 16,262,125 $1.1B Reduce -5.0%
WFC Wells Fargo & Co. 0.37% 12,181,321 $1.1B Reduce -6.0%
PG The Procter & Gamble Co. 0.37% 7,846,513 $1.1B Add +5.0%
AXP American Express Co. 0.37% 3,037,014 $1.1B Reduce -1.9%
UBER Uber Technologies Inc. 0.36% 13,524,129 $1.1B Reduce -1.3%
WELL Welltower Inc. 0.35% 5,736,928 $1.1B Add +20.9%
INTU Intuit Inc. 0.35% 1,599,873 $1.1B Add +19.2%
CRM Salesforce Inc. 0.34% 3,908,539 $1.0B Reduce -3.0%
NOW ServiceNow Inc. 0.34% 6,730,205 $1.0B Reduce -2.7%
SLB SLB Ltd. filed as SLB LIMITED 0.33% 26,373,025 $1.0B Reduce -1.6%
QCOM Qualcomm Inc. 0.31% 5,638,287 $964.4M Reduce -9.3%
PLD Prologis Inc. 0.31% 7,358,856 $939.4M Add +3.8%
INTC Intel Corp. 0.30% 24,942,132 $920.4M Reduce -18.7%
EXC Exelon Corp. 0.30% 20,964,736 $913.9M Add +2.9%
ADP Automatic Data Processing 0.30% 3,532,545 $908.7M Add +9.3%
CNI Canadian Natl Railway Co. 0.29% 8,998,101 $889.5M Add +15.1%
UNP Union Pacific Corp. 0.29% 3,844,047 $889.2M Add +4.8%
APH Amphenol Corp. Class A 0.29% 6,495,823 $877.8M Add +4.6%
NEM Newmont Corp. 0.29% 8,788,771 $877.6M Reduce -15.4%
SPOT Spotify Technology SA 0.28% 1,485,921 $862.9M Add +15.7%
ISRG Intuitive Surgical Inc. 0.28% 1,522,191 $862.1M Add +9.6%
CL Colgate-Palmolive Co. 0.28% 10,845,857 $857.0M Add +33.9%
GS Goldman Sachs Group Inc. 0.28% 965,869 $849.0M Add +12.9%
GE General Electric filed as GE AEROSPACE 0.28% 2,752,874 $848.0M Reduce -0.2%
TRP TC Energy Corp. 0.28% 15,384,255 $846.3M Add +63.2%
EQIX Equinix Inc. 0.27% 1,094,808 $838.8M Add +30.1%
C Citigroup Inc. 0.27% 7,158,142 $835.3M Add +28.4%
CAT Caterpillar Inc. 0.27% 1,450,183 $830.8M Add +7.6%
ACN Accenture PLC Class A 0.27% 3,093,932 $830.1M Add +13.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.27% 5,384,571 $827.1M Add +1.0%
LRCX Lam Research Corp. 0.27% 4,762,381 $815.2M Reduce -7.0%
SRE Sempra 0.26% 9,162,075 $808.9M Reduce -2.5%
VRTX Vertex Pharmaceuticals Inc. 0.26% 1,768,881 $801.9M Add +10.5%
PNC PNC Financial Services Group 0.26% 3,836,936 $800.9M Add +108.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.26% 6,911,458 $786.3M Reduce -7.0%
T AT&T Inc. 0.25% 31,460,360 $781.5M Add +15.7%
MDLZ Mondelez International Inc. Class A 0.25% 14,353,633 $772.7M Add +12.4%
PFE Pfizer Inc. 0.25% 30,898,848 $769.4M Reduce -6.7%
PH Parker Hannifin Corp. 0.25% 871,894 $766.4M Add +10.5%
GILD Gilead Sciences Inc. 0.25% 6,193,754 $760.2M Reduce -30.8%
A Agilent Technologies Inc. 0.25% 5,548,091 $754.9M Reduce -0.5%
VZ Verizon Communications Inc. 0.24% 18,423,287 $750.4M Add +1.3%
UNH Unitedhealth Group Inc. 0.24% 2,202,078 $726.9M Reduce -21.4%
TMO Thermo Fisher Scientific Inc. 0.24% 1,247,636 $722.9M Add +3.5%
ETN Eaton Corp. PLC 0.23% 2,261,548 $720.3M Add +14.8%
MCD McDonald's Corp. 0.23% 2,356,751 $720.3M Reduce -7.1%
AMGN Amgen Inc. 0.23% 2,190,809 $717.1M Reduce -17.0%
MS Morgan Stanley 0.23% 4,003,926 $710.8M Reduce -0.2%
ZTS Zoetis Inc. 0.23% 5,558,183 $699.3M Add +19.1%
LMT Lockheed Martin Corp. 0.23% 1,440,840 $696.9M Add +7.4%
DELL Dell Technologies -C 0.23% 5,517,070 $694.5M Add +24.6%
TSM Taiwan Semiconductor-SP ADR 0.22% 2,264,367 $688.1M Add +94.3%
PCG P G & E Corp. 0.22% 42,284,395 $679.5M Add +5.5%
PANW Palo Alto Networks Inc. 0.21% 3,557,904 $655.4M Add +9.8%

Show all 3,499 holdings

Options reported separately and not counted above: ECHO puts ($32.7M), CZR calls ($23.4M), ASTS puts ($9.0M), CNK calls ($5.8M), PG puts ($5.4M), JD.COM INC (JD 0.25 06/01/29) puts ($4.9M), GPN calls ($4.5M), PENG calls ($4.4M), ALNY puts ($4.1M), BFH puts ($3.7M), WELL puts ($3.5M), B puts ($2.5M), and 34 more.

Other holdings (74): bonds, preferreds, convertibles and warrants · $289.9M (not counted above)
SecurityClassShares / PrincipalValueChange
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal 26,393,000$27.2MAdd +23.1%
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 16,099,000$25.0MAdd +4.8%
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal 17,934,000$18.6MReduce -19.6%
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal 12,161,000$17.2MReduce -12.9%
PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) NOTE 5.500%12/0 · principal 9,562,000$15.9MNo change
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal 15,500,000$15.5MReduce -14.8%
STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal 12,576,000$13.0MNo change
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 10,700,000$10.1MReduce -21.5%
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) NOTE 3.625% 4/1 · principal 9,398,000$9.1MAdd +720.1%
LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) NOTE 1.750% 1/1 · principal 9,050,000$8.2MNo change
PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) NOTE 2.125% 5/1 · principal 8,000,000$8.0MReduce -20.0%
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal 7,280,000$8.0MNew
CERENCE INC (CRNC 1.5 07/01/28) NOTE 1.500% 7/0 · principal 7,595,000$6.8MAdd +4.2%
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) NOTE 3.750% 3/1 · principal 6,154,000$6.2MAdd +32.2%
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 4,810,000$6.0MReduce -24.5%
HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal 5,542,000$6.0MReduce -14.7%
WEC ENERGY GROUP INC (WEC 4.375 06/01/29) NOTE 4.375% 6/0 · principal 4,820,000$5.6MReduce -11.5%
STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal 6,378,000$5.2MNew
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 11,351,000$4.8MReduce -16.3%
RIOT PLATFORMS INC (RIOT 0.75 01/15/30) NOTE 0.750% 1/1 · principal 4,104,000$4.6MNew
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal 3,478,000$3.9MAdd +14.4%
STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal 3,115,000$3.6MNew
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 3,788,000$3.5MReduce -44.0%
MKS INC (MKSI 1.25 06/01/30) NOTE 1.250% 6/0 · principal 2,151,000$2.7MNo change
GUESS INC (GES 3.75 04/15/28) NOTE 3.750% 4/1 · principal 2,700,000$2.7MReduce -50.0%
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 2,571,000$2.6MReduce -65.1%
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) NOTE 3.125% 9/1 · principal 1,925,000$2.6MAdd +47.5%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 1,776,000$2.3MReduce -29.4%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal 2,022,000$2.2MReduce -8.2%
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 26,300$2.1MAdd +43.6%
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal 2,092,000$1.9MReduce -42.1%
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal 1,839,000$1.8MNew
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal 1,664,000$1.8MReduce -39.1%
ITRON INC (ITRI 1.375 07/15/30) NOTE 1.375% 7/1 · principal 1,597,000$1.6MNo change
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal 1,269,000$1.5MNo change
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal 1,335,000$1.3MAdd +46.5%
CLOUDFLARE INC (NET 0 08/15/26) NOTE 8/1 · principal 1,149,000$1.3MReduce -14.2%
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal 1,232,000$1.3MNew
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal 867,000$1.2MReduce -25.4%
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal 1,007,000$1.2MAdd +42.2%
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 900,000$1.2MReduce -82.9%
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal 877,000$1.2MAdd +17.4%
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal 1,038,000$1.2MNew
NUTANIX INC (NTNX 0.5 12/15/29) NOTE 0.500%12/1 · principal 1,145,000$1.1MNew
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) NOTE 0.750%12/1 · principal 963,000$1.1MNew
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 1,063,000$1.1MNew
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal 951,000$1.0MReduce -15.4%
SOUTHERN CO (SO 4.5 06/15/27) NOTE 4.500% 6/1 · principal 950,000$1.0MReduce -8.0%
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) NOTE 1.250%11/0 · principal 907,000$997KNew
ALLIANT ENERGY CORP (LNT 3.875 03/15/26) NOTE 3.875% 3/1 · principal 957,000$994KReduce -15.6%
BLACKLINE INC (BL 1 06/01/29) NOTE 1.000% 6/0 · principal 901,000$949KNo change
HAEMONETICS CORP (HAE 2.5 06/01/29) NOTE 2.500% 6/0 · principal 892,000$924KNew
PARSONS CORP (PSN 2.625 03/01/29) NOTE 2.625% 3/0 · principal 883,000$908KReduce -12.6%
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 888,000$895KNo change
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) NOTE 2.875% 3/1 · principal 764,000$838KReduce -56.8%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 832,000$834KNo change
XEROX HOLDINGS CORP (XRX 3.75 03/15/30) NOTE 3.750% 3/1 · principal 2,850,000$834KReduce -44.1%
NABORS INDUSTRIES INC (NBR 1.75 06/15/29) NOTE 1.750% 6/1 · principal 1,000,000$805KNew
POST HOLDINGS INC (POST 2.5 08/15/27) NOTE 2.500% 8/1 · principal 728,000$783KReduce -17.6%
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 621,000$771KReduce -44.5%
LYFT INC (LYFT 0.625 03/01/29) NOTE 0.625% 3/0 · principal 617,000$742KNo change
REPLIGEN CORP (RGEN 1 12/15/28) NOTE 1.000%12/1 · principal 643,000$702KReduce -15.5%
UPSTART HOLDINGS INC (UPST 1 11/15/30) NOTE 1.000%11/1 · principal 793,000$691KNew
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) NOTE 0.250%10/0 · principal 612,000$662KNew
FLUOR CORP (FLR 1.125 08/15/29) NOTE 1.125% 8/1 · principal 533,000$607KNo change
AEROVIRONMENT INC (AVAV 0 07/15/30) NOTE 7/1 · principal 520,000$564KNo change
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) NOTE 2.250% 4/0 · principal 375,000$531KNo change
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) NOTE 2.250% 8/1 · principal 385,000$487KNo change
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) NOTE 4.750% 6/1 · principal 375,000$400KNo change
WORKIVA INC (WK 1.25 08/15/28) NOTE 1.250% 8/1 · principal 310,000$306KNo change
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal 307,000$303KNew
WEC ENERGY GROUP INC (WEC 4.375 06/01/27) NOTE 4.375% 6/0 · principal 237,000$268KReduce -34.2%
RFAIR RF Acquisition Corp. II RIGHT 05/01/2026 240,000$29KNo change
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 2,386$11KNo change

Total filed on the 13F, all lines: $307.0B.

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -1.3% 5.00% −0.58
META Meta Platforms Inc. Class A Reduce -11.4% 1.66% −0.48
DB Deutsche Bank AG-Registered Reduce -34.0% 0.71% −0.31
HD Home Depot Inc. Reduce -16.0% 0.40% −0.18
AVGO Broadcom Inc. Reduce -10.3% 1.56% −0.15
TSLA Tesla Inc. Reduce -8.8% 1.18% −0.14
AMZN Amazon.com Inc. Reduce -7.1% 2.30% −0.12
NOW ServiceNow Inc. Reduce -2.7% 0.34% −0.09
AMT American Tower Corp. Reduce -8.3% 0.40% −0.09
ENB Enbridge Inc. Reduce -6.1% 0.58% −0.09
UBER Uber Technologies Inc. Reduce -1.3% 0.36% −0.09
UNH Unitedhealth Group Inc. Reduce -21.4% 0.24% −0.09
VICI Vici Properties Inc. Reduce -72.3% 0.03% −0.09
CSX CSX Corp. Reduce -34.6% 0.16% −0.09
GILD Gilead Sciences Inc. Reduce -30.8% 0.25% −0.09
V Visa Inc. Class A Reduce -7.5% 1.01% −0.08
XEL Xcel Energy Inc. Reduce -47.9% 0.07% −0.08
PGR Progressive Corp. Reduce -5.5% 0.38% −0.07
PNW Pinnacle West Capital Reduce -83.6% 0.01% −0.07
PYPL PayPal Holdings Inc. Reduce -17.6% 0.15% −0.07
CB Chubb Ltd. Reduce -35.3% 0.14% −0.06
PBA Pembina Pipeline Corp. Reduce -58.9% 0.04% −0.06
TMUS T-Mobile US Inc. Reduce -14.2% 0.14% −0.06
BLK BlackRock Inc. Reduce -20.6% 0.14% −0.06
MSTR Strategy Inc. Reduce -12.7% 0.04% −0.05
AZO AutoZone Inc. Reduce -16.1% 0.10% −0.05
GEV GE Vernova Inc. Reduce -32.4% 0.12% −0.05
K Kellanova Sold out 0.00% −0.05
COP Conocophillips Reduce -30.6% 0.10% −0.05
DASH DoorDash Inc. Class A Reduce -13.7% 0.12% −0.05
BSX Boston Scientific Corp. Reduce -15.0% 0.21% −0.05
INTC Intel Corp. Reduce -18.7% 0.30% −0.05
DLR Digital Realty Trust Inc. Reduce -18.0% 0.11% −0.05
ICE Intercontinental Exchange Inc. Reduce -22.3% 0.11% −0.04
CRH CRH PLC Reduce -18.5% 0.19% −0.04
CEG Constellation Energy Reduce -36.6% 0.08% −0.04
TXN Texas Instruments Inc. Reduce -9.3% 0.19% −0.04
TT Trane Technologies PLC Reduce -18.6% 0.10% −0.04
OKE Oneok Inc. Reduce -25.9% 0.10% −0.04
ULTA Ulta Beauty Inc. Reduce -45.6% 0.05% −0.04
SMTC Semtech Corp. Reduce -91.6% 0.00% −0.04
AJG Arthur J Gallagher & Co. Reduce -24.2% 0.06% −0.04
MRK Merck & Co. Inc. Reduce -24.1% 0.44% −0.04
FAST Fastenal Co. Reduce -24.8% 0.05% −0.04
NI Nisource Inc. Reduce -14.0% 0.14% −0.03
LLYVA Liberty Live Holdings Class A Reduce -99.7% 0.00% −0.03
QCOM Qualcomm Inc. Reduce -9.3% 0.31% −0.03
PFE Pfizer Inc. Reduce -6.7% 0.25% −0.03
SPG Simon Property Group Inc. Reduce -12.8% 0.16% −0.03
IRM Iron Mountain Inc. Reduce -12.1% 0.07% −0.03

Portfolio Buys Q3 2025 → Q4 2025
TTE Totalenergies SE Add +582774.1% 0.86% +0.86
LLY Eli Lilly & Co. Add +16.1% 1.33% +0.50
MU Micron Technology Inc. Add +11.7% 0.42% +0.19
AMD Advanced Micro Devices Add +0.4% 0.64% +0.14
PNC PNC Financial Services Group Add +108.3% 0.26% +0.14
TSM Taiwan Semiconductor-SP ADR Add +94.3% 0.22% +0.12
UBS UBS Group AG-Reg Add +19.1% 0.45% +0.11
TRP TC Energy Corp. Add +63.2% 0.28% +0.10
LIN Linde PLC Add +40.2% 0.55% +0.10
CRWV Coreweave Inc. Class A Add +22624.0% 0.09% +0.09
C Citigroup Inc. Add +28.4% 0.27% +0.08
STX Seagate Technology Holdings Add +102.0% 0.14% +0.08
BAC Bank of America Corp. Add +5.9% 0.85% +0.07
ISRG Intuitive Surgical Inc. Add +9.6% 0.28% +0.07
WELL Welltower Inc. Add +20.9% 0.35% +0.06
CL Colgate-Palmolive Co. Add +33.9% 0.28% +0.06
REGN Regeneron Pharmaceuticals Add +9.7% 0.19% +0.06
EXPE Expedia Group Inc. Add +55.0% 0.12% +0.06
SNDK Sandisk Corp. Add +184.2% 0.07% +0.06
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +1091.2% 0.06% +0.06
ED Consolidated Edison Inc. Add +101.4% 0.12% +0.06
CAT Caterpillar Inc. Add +7.6% 0.27% +0.06
RMD Resmed Inc. Add +126.0% 0.11% +0.05
EQIX Equinix Inc. Add +30.1% 0.27% +0.05
BA The Boeing Co. Add +47.5% 0.17% +0.05
VRTX Vertex Pharmaceuticals Inc. Add +10.5% 0.26% +0.05
CPRT Copart Inc. Add +94.0% 0.13% +0.05
PH Parker Hannifin Corp. Add +10.5% 0.25% +0.05
COST Costco Wholesale Corp. Add +25.7% 0.40% +0.05
GS Goldman Sachs Group Inc. Add +12.9% 0.28% +0.05
ES Eversource Energy Add +78.1% 0.12% +0.05
COF Capital One Financial Corp. Add +17.0% 0.20% +0.05
ACN Accenture PLC Class A Add +13.6% 0.27% +0.05
CSCO Cisco Systems Inc. Add +2.4% 0.41% +0.04
WMT Walmart Inc. Add +4.5% 0.48% +0.04
CNI Canadian Natl Railway Co. Add +15.1% 0.29% +0.04
CCI Crown Castle Inc. Add +40.5% 0.21% +0.04
FFIV F5 Inc. Add +175.2% 0.08% +0.04
ALC Alcon Inc. Add +40.7% 0.13% +0.04
RKLB Rocket Lab Corp. Add +174.5% 0.05% +0.04
TMO Thermo Fisher Scientific Inc. Add +3.5% 0.24% +0.04
INTU Intuit Inc. Add +19.2% 0.35% +0.04
WCN Waste Connections Inc. Add +105.2% 0.08% +0.04
IBM Intl Business Machines Corp. Add +8.6% 0.38% +0.04
PLD Prologis Inc. Add +3.8% 0.31% +0.03
PLTR Palantir Technologies Inc. Class A Add +11.5% 0.64% +0.03
ABVX Abivax SA-ADR New 0.03% +0.03
RIO Rio Tinto PLC-Spon ADR Add +102.6% 0.06% +0.03
KEY Keycorp Add +132.7% 0.06% +0.03
MA Mastercard Inc. Class A Add +8.1% 0.62% +0.03

Options Activity Q3 2025 → Q4 2025
ECHO Echostar Corp. Class A put Add +692.6% 300,400 $32.7M
CZR Caesars Entertainment Inc. call New 1,000,000 $23.4M
CAH Cardinal Health Inc. put Sold out 111,600 $17.5Mbefore exit
ASTS Ast Spacemobile Inc. put Add +0.7% 124,200 $9.0M
ARES Ares Management Corp. Class A put Sold out 39,400 $6.3Mbefore exit
CNK Cinemark Holdings Inc. call New 250,000 $5.8M
PG The Procter & Gamble Co. put Add +150.0% 37,500 $5.4M
JD.COM INC (JD 0.25 06/01/29) put Reduce -7.1% 4,857,000 $4.9M
GPN Global Payments Inc. call Reduce -30.1% 58,000 $4.5M
PENG Penguin Solutions Inc. call New 226,700 $4.4M
ALNY Alnylam Pharmaceuticals Inc. put Add +26.8% 10,400 $4.1M
BFH Bread Financial Holdings Inc. put Add +224.7% 50,000 $3.7M
WELL Welltower Inc. put New 19,000 $3.5M
BOX Box Inc. Class A put Sold out 95,400 $3.1Mbefore exit
UNIT Uniti Group Inc. call Sold out 500,000 $3.1Mbefore exit
VOYA Voya Financial Inc. put Sold out 39,600 $3.0Mbefore exit
NET Cloudflare Inc. Class A put Sold out 12,800 $2.7Mbefore exit
HAE Haemonetics Corp. call Sold out 53,200 $2.6Mbefore exit
B Barrick Mining Corp. put New 57,000 $2.5M
NEM Newmont Corp. put New 23,000 $2.3M
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) put Sold out 1,168,000 $2.1Mbefore exit
RIVN Rivian Automotive Inc. Class A put Add +1149.4% 108,700 $2.1M
STLA Stellantis NV call New 195,000 $2.1M
KKR KKR & Co. Inc. put New 16,500 $2.1M
LI AUTO INC (LI 0.25 05/01/28) put Sold out 1,791,000 $2.0Mbefore exit
EL Estee Lauder Companies Class A put Sold out 23,000 $2.0Mbefore exit
F Ford Motor Co. call Add +7.1% 150,000 $2.0M
SNOW Snowflake Inc. put New 8,000 $1.8M
ASTS Ast Spacemobile Inc. call New 20,000 $1.5M
HASI Ha Sustainable Infrastructur call Sold out 44,000 $1.4Mbefore exit
TTE Totalenergies SE call New 20,000 $1.3M
PRO Pros Holdings Inc. call Sold out 50,000 $1.1Mbefore exit
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) put Sold out 1,105,000 $1.1Mbefore exit
FIVN FIVE9 Inc. call Sold out 40,000 $968Kbefore exit
GPRO Gopro Inc. Class A call Sold out 400,000 $848Kbefore exit
ATEC Alphatec Holdings Inc. call Reduce -55.6% 40,000 $842K
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) call Reduce -75.4% 500,000 $664K
STRATEGY INC (MSTR 0.875 03/15/31) put New 628,000 $645K
NIO INC (NIO 3.875 10/15/29) put Reduce -13.9% 625,000 $589K
NIO INC (NIO 4.625 10/15/30) put Reduce -13.8% 640,000 $563K
MARA HOLDINGS INC (MARA 0 03/01/30) put New 566,000 $444K
PRGS Progress Software Corp. call Sold out 9,000 $395Kbefore exit
CLEANSPARK INC (CLSK 0 06/15/30) put New 343,000 $355K
ON On Semiconductor put New 2,100 $114K
RPD RAPID7 Inc. call Sold out 5,000 $94Kbefore exit
CMI Cummins Inc. put Sold out 200 $84Kbefore exit
ALVOW Alvotech SA -27 call Reduce -1.1% 46,769 $30K
SPWRW Sunpower Inc.-CW27 call Reduce -25.0% 75,000 $18K
STLNW Oncology Institute Inc. CW-22 call Reduce -14.2% 96,600 $12K
FBYDW Falcon's Beyond Global-27 call Sold out 6,040 $10Kbefore exit

Showing the first 50 of 60.

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
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal Add +23.1% 26,393,000 $27.2M
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Add +4.8% 16,099,000 $25.0M
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal Reduce -19.6% 17,934,000 $18.6M
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal Reduce -12.9% 12,161,000 $17.2M
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal Reduce -14.8% 15,500,000 $15.5M
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal Reduce -21.5% 10,700,000 $10.1M
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) NOTE 3.625% 4/1 · principal Add +720.1% 9,398,000 $9.1M
PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) NOTE 2.125% 5/1 · principal Reduce -20.0% 8,000,000 $8.0M
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal New 7,280,000 $8.0M
CERENCE INC (CRNC 1.5 07/01/28) NOTE 1.500% 7/0 · principal Add +4.2% 7,595,000 $6.8M
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) NOTE 3.750% 3/1 · principal Add +32.2% 6,154,000 $6.2M
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal Reduce -24.5% 4,810,000 $6.0M
HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal Reduce -14.7% 5,542,000 $6.0M
WEC ENERGY GROUP INC (WEC 4.375 06/01/29) NOTE 4.375% 6/0 · principal Reduce -11.5% 4,820,000 $5.6M
LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) NOTE 0.500% 6/1 · principal Sold out 3,903,000 $5.4Mbefore exit
STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal New 6,378,000 $5.2M
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal Reduce -16.3% 11,351,000 $4.8M
RIOT PLATFORMS INC (RIOT 0.75 01/15/30) NOTE 0.750% 1/1 · principal New 4,104,000 $4.6M
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal Add +14.4% 3,478,000 $3.9M
STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal New 3,115,000 $3.6M
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal Reduce -44.0% 3,788,000 $3.5M
H WORLD GROUP LTD (HTHT 3 05/01/26) NOTE 3.000% 5/0 · principal Sold out 2,986,000 $3.3Mbefore exit
GUESS INC (GES 3.75 04/15/28) NOTE 3.750% 4/1 · principal Reduce -50.0% 2,700,000 $2.7M
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal Reduce -65.1% 2,571,000 $2.6M
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) NOTE 3.125% 9/1 · principal Add +47.5% 1,925,000 $2.6M
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal Reduce -29.4% 1,776,000 $2.3M
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) NOTE 0.250% 3/0 · principal Sold out 1,987,000 $2.3Mbefore exit
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal Reduce -8.2% 2,022,000 $2.2M
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF Add +43.6% 26,300 $2.1M
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal Reduce -42.1% 2,092,000 $1.9M
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal New 1,839,000 $1.8M
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal Reduce -39.1% 1,664,000 $1.8M
UBER TECHNOLOGIES INC (UBER 0 12/15/25) NOTE 12/1 · principal Sold out 1,289,000 $1.6Mbefore exit
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal Sold out 982,000 $1.4Mbefore exit
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal Add +46.5% 1,335,000 $1.3M
CLOUDFLARE INC (NET 0 08/15/26) NOTE 8/1 · principal Reduce -14.2% 1,149,000 $1.3M
WAYFAIR INC (W 3.25 09/15/27) NOTE 3.250% 9/1 · principal Sold out 876,000 $1.3Mbefore exit
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal New 1,232,000 $1.3M
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal Sold out 826,000 $1.3Mbefore exit
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal Reduce -25.4% 867,000 $1.2M
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal Add +42.2% 1,007,000 $1.2M
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal Reduce -82.9% 900,000 $1.2M
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal Add +17.4% 877,000 $1.2M
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal New 1,038,000 $1.2M
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) NOTE 1.500% 9/0 · principal Sold out 833,000 $1.1Mbefore exit
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) NOTE 2.500% 3/1 · principal Sold out 793,000 $1.1Mbefore exit
NUTANIX INC (NTNX 0.5 12/15/29) NOTE 0.500%12/1 · principal New 1,145,000 $1.1M
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) NOTE 0.500% 8/0 · principal Sold out 1,087,000 $1.1Mbefore exit
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) NOTE 0.750%12/1 · principal New 963,000 $1.1M
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal New 1,063,000 $1.1M

Showing the first 50 of 75.

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 3,581$343.9BNVDA, AAPL, MSFT, GOOGL, AMZN
Q1 2026 3,503$302.3BNVDA, MSFT, AAPL, GOOGL, AMZN
Q4 2025 3,499$306.7BNVDA, MSFT, AAPL, GOOGL, AMZN
Q3 2025 3,472$298.0BNVDA, MSFT, AAPL, GOOGL, AMZN
Q2 2025 3,475$271.1BMSFT, NVDA, AAPL, GOOGL, AMZN
Q1 2025 3,460$251.9BMSFT, AAPL, NVDA, GOOGL, AMZN
Q4 2024Amended 3,444$254.9BMSFT, NVDA, AAPL, GOOGL, AMZN
Q3 2024Amended 3,476$245.2BMSFT, AAPL, NVDA, GOOGL, AMZN
Q2 2024Amended 3,433$221.3BMSFT, NVDA, AAPL, GOOGL, AMZN
Q1 2024Amended 3,484$215.0BMSFT, NVDA, AAPL, GOOGL, AMZN