Deutsche Bank AG

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 6, 2026), Deutsche Bank AG reported 3,503 stock positions worth $302.3 billion. Its top holding was Nvidia (NVDA) at 5.2% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Apple (AAPL, 3.9%). Compared with Q4 2025, it opened 121 new positions, sold out of 118, added to 2,096 and reduced 1,014. The biggest buy was Astrazeneca (AZN, shares +4471%) and the biggest sale Alphabet Class A (GOOGL, shares −8%).

Most Recent 13F
Q2 2026
Location
FRANKFURT AM MAIN, 2M
CIK
0000948046
Portfolio Value
$302.3B (Q1 2026)
SEC Filing
0000948046-26-000023 ↗ filed May 6, 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 Q4 2025 Q1 2026: $302.3B $302.3B Q1 2026 Q2 2026: $343.9B Q2 2026

Holdings 3,503 stocks · $302.3B
NVDA Nvidia Corp. 5.19% 89,902,658 $15.7B Reduce -0.6%
MSFT Microsoft Corp. 3.99% 32,615,124 $12.1B Add +2.8%
AAPL Apple Inc. 3.91% 46,564,322 $11.8B Add +0.3%
GOOGL Alphabet Inc. Class A 2.79% 29,372,834 $8.4B Reduce -7.6%
AMZN Amazon.com Inc. 2.23% 32,308,027 $6.7B Add +5.5%
META Meta Platforms Inc. Class A 1.64% 8,664,487 $5.0B Add +12.5%
GOOG Alphabet Inc. Class C 1.56% 16,400,063 $4.7B Reduce -2.5%
AVGO Broadcom Inc. 1.51% 14,788,051 $4.6B Add +6.9%
TTE Totalenergies SE 1.29% 42,925,687 $3.9B Add +6.3%
JNJ Johnson & Johnson 1.17% 14,435,647 $3.5B Add +7.0%
LLY Eli Lilly & Co. 1.08% 3,547,772 $3.3B Reduce -6.8%
TSLA Tesla Inc. 1.00% 8,122,075 $3.0B Add +1.3%
V Visa Inc. Class A 0.88% 8,810,653 $2.7B Reduce -0.2%
JPM JPMorgan Chase & Co. 0.81% 8,311,386 $2.4B Reduce -18.4%
AZN Astrazeneca PLC 0.79% 12,129,724 $2.4B Add +4471.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.74% 46,138,066 $2.2B Reduce -2.2%
AMAT Applied Materials Inc. 0.73% 6,494,721 $2.2B Add +1.1%
DB Deutsche Bank AG-Registered 0.69% 69,876,566 $2.1B Add +23.1%
ABBV Abbvie Inc. 0.69% 9,531,362 $2.1B Reduce -5.9%
XOM Exxon Mobil Corp. 0.67% 12,014,229 $2.0B Add +16.9%
ENB Enbridge Inc. 0.62% 34,578,351 $1.9B Reduce -6.9%
LIN Linde PLC 0.60% 3,638,121 $1.8B Reduce -7.7%
AEM Agnico Eagle Mines Ltd. 0.59% 8,729,296 $1.8B Add +1.9%
NFLX Netflix Inc. 0.58% 18,359,616 $1.8B Add +10.7%
BRK.B Berkshire Hathaway Inc. Class B 0.57% 3,567,471 $1.7B Add +15.4%
AMD Advanced Micro Devices 0.56% 8,258,350 $1.7B Reduce -9.5%
MDT Medtronic PLC 0.54% 19,002,414 $1.6B Add +7.1%
NEE Nextera Energy Inc. 0.54% 17,710,767 $1.6B Add +2.5%
MU Micron Technology Inc. 0.52% 4,670,917 $1.6B Add +2.7%
MA Mastercard Inc. Class A 0.52% 3,126,847 $1.6B Reduce -6.3%
MRK Merck & Co. Inc. 0.50% 12,540,774 $1.5B Reduce -1.9%
WMT Walmart Inc. 0.50% 12,082,073 $1.5B Reduce -9.1%
PLTR Palantir Technologies Inc. Class A 0.49% 10,142,047 $1.5B Reduce -7.9%
ABT Abbott Laboratories 0.48% 14,091,704 $1.4B Add +21.7%
BKNG Booking Holdings Inc. 0.48% 343,474 $1.4B Add +17.0%
PEP Pepsico Inc. 0.46% 9,012,904 $1.4B Reduce -5.2%
WMB Williams Cos Inc. 0.46% 18,968,223 $1.4B Reduce -5.3%
COST Costco Wholesale Corp. 0.45% 1,353,438 $1.3B Reduce -4.3%
AMT American Tower Corp. 0.44% 7,769,353 $1.3B Add +12.4%
PG The Procter & Gamble Co. 0.44% 9,120,974 $1.3B Add +16.2%
CSCO Cisco Systems Inc. 0.43% 16,765,902 $1.3B Add +2.3%
SLB SLB Ltd. filed as SLB LIMITED 0.43% 25,240,679 $1.3B Reduce -4.3%
UBS UBS Group AG-Reg 0.41% 31,922,626 $1.2B Add +7.8%
INTC Intel Corp. 0.41% 27,743,478 $1.2B Add +11.2%
KO The Coca-Cola Co. 0.39% 15,460,261 $1.2B Reduce -4.9%
EQIX Equinix Inc. 0.37% 1,144,762 $1.1B Add +4.6%
ANET Arista Networks Inc. 0.36% 8,969,142 $1.1B Reduce -3.6%
CVX Chevron Corp. 0.36% 5,308,245 $1.1B Add +26.8%
UBER Uber Technologies Inc. 0.34% 14,182,834 $1.0B Add +4.9%
WELL Welltower Inc. 0.34% 5,144,394 $1.0B Reduce -10.3%
CL Colgate-Palmolive Co. 0.34% 11,928,161 $1.0B Add +10.0%
GE General Electric filed as GE AEROSPACE 0.33% 3,497,770 $992.6M Add +27.1%
NEM Newmont Corp. 0.33% 9,167,397 $992.4M Add +4.3%
SPOT Spotify Technology SA 0.33% 2,046,139 $992.2M Add +37.7%
UNP Union Pacific Corp. 0.33% 4,054,641 $983.7M Add +5.5%
VZ Verizon Communications Inc. 0.33% 19,576,603 $982.7M Add +6.3%
TRP TC Energy Corp. 0.32% 15,624,978 $978.1M Add +1.6%
CAT Caterpillar Inc. 0.32% 1,360,881 $964.1M Reduce -6.2%
EXC Exelon Corp. 0.32% 19,657,029 $963.6M Reduce -6.2%
LRCX Lam Research Corp. 0.32% 4,499,280 $961.3M Reduce -5.5%
PGR Progressive Corp. 0.32% 4,820,553 $955.6M Reduce -6.7%
WFC Wells Fargo & Co. 0.31% 11,859,256 $944.1M Reduce -2.6%
T AT&T Inc. 0.31% 32,312,120 $936.7M Add +2.7%
PLD Prologis Inc. 0.30% 6,925,661 $915.4M Reduce -5.9%
HD Home Depot Inc. 0.30% 2,782,615 $915.2M Reduce -22.6%
SRE Sempra 0.30% 9,329,490 $906.5M Add +1.8%
ORCL Oracle Corp. 0.29% 6,061,402 $891.7M Reduce -7.4%
PFE Pfizer Inc. 0.29% 31,428,987 $882.5M Add +1.7%
PNC PNC Financial Services Group 0.29% 4,231,323 $880.5M Add +10.3%
C Citigroup Inc. 0.29% 7,709,106 $874.3M Add +7.7%
GILD Gilead Sciences Inc. 0.29% 6,222,328 $867.2M Add +0.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.29% 3,563,135 $863.7M Reduce -9.1%
ADP Automatic Data Processing 0.27% 4,074,317 $827.8M Add +15.3%
ADBE Adobe Inc. 0.27% 3,400,745 $826.7M Reduce -14.9%
AXP American Express Co. 0.27% 2,703,329 $817.7M Reduce -11.0%
APH Amphenol Corp. Class A 0.27% 6,405,947 $809.4M Reduce -1.4%
QCOM Qualcomm Inc. 0.27% 6,239,325 $803.5M Add +10.7%
ETN Eaton Corp. PLC 0.26% 2,232,218 $798.4M Reduce -1.3%
PH Parker Hannifin Corp. 0.26% 890,035 $796.8M Add +2.1%
AMGN Amgen Inc. 0.26% 2,255,759 $793.7M Add +3.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.26% 4,856,932 $775.7M Reduce -9.8%
GS Goldman Sachs Group Inc. 0.26% 914,767 $773.9M Reduce -5.3%
PCG P G & E Corp. 0.26% 43,896,784 $771.3M Add +3.8%
MCD McDonald's Corp. 0.25% 2,447,760 $760.7M Add +3.9%
MDLZ Mondelez International Inc. Class A 0.25% 12,875,655 $742.2M Reduce -10.3%
CNI Canadian Natl Railway Co. 0.24% 7,205,119 $740.5M Reduce -19.9%
PANW Palo Alto Networks Inc. 0.24% 4,548,713 $729.2M Add +27.9%
BA The Boeing Co. 0.24% 3,620,940 $720.7M Add +52.4%
TMUS T-Mobile US Inc. 0.23% 3,338,296 $701.1M Add +54.7%
STX Seagate Technology Holdings 0.23% 1,759,174 $689.2M Add +9.9%
WEC WEC Energy Group Inc. 0.23% 5,931,540 $686.7M Reduce -3.2%
VRTX Vertex Pharmaceuticals Inc. 0.23% 1,537,736 $686.7M Reduce -13.1%
UNH Unitedhealth Group Inc. 0.23% 2,535,308 $686.0M Add +15.1%
KLAC KLA Corp. 0.23% 465,013 $684.7M Add +9.1%
GLW Corning Inc. 0.23% 5,017,721 $682.3M Add +141.2%
A Agilent Technologies Inc. 0.23% 5,984,118 $682.1M Add +7.9%
MS Morgan Stanley 0.22% 4,121,871 $678.3M Add +3.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.22% 6,881,030 $663.2M Reduce -0.4%
GEV GE Vernova Inc. 0.22% 758,884 $662.4M Add +34.9%
TXN Texas Instruments Inc. 0.22% 3,401,347 $660.3M Reduce -1.1%

Show all 3,503 holdings

Options reported separately and not counted above: ECHO puts ($28.0M), CZR calls ($26.4M), LUV calls ($18.8M), EW puts ($10.5M), NET calls ($10.3M), GPN calls ($6.7M), NET puts ($6.5M), CRM puts ($4.7M), HWM puts ($3.9M), ADSK puts ($3.8M), GME calls ($3.6M), NOW puts ($3.5M), and 31 more.

Other holdings (71): bonds, preferreds, convertibles and warrants · $229.5M (not counted above)
SecurityClassShares / PrincipalValueChange
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 12,643,000$17.5MReduce -21.5%
STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal 15,076,000$15.3MAdd +19.9%
ORACLE CORP (ORCL 6.5 01/15/29 D) 6.5 DEP CUM SR D 294,900$13.3MNew
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 12,427,000$12.1MAdd +16.1%
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal 7,530,000$9.5MAdd +3.4%
LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) NOTE 1.750% 1/1 · principal 9,050,000$8.6MNo change
PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) NOTE 5.500%12/0 · principal 6,462,000$8.6MReduce -32.4%
STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal 7,474,000$8.2MAdd +139.9%
PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) NOTE 2.125% 5/1 · principal 8,011,000$7.7MAdd +0.1%
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) NOTE 3.750% 3/1 · principal 7,127,000$7.4MAdd +15.8%
ALKAMI TECHNOLOGY INC (ALKTEC 1.5 03/15/30) NOTE 1.500% 3/1 · principal 8,069,000$7.2MNew
PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) NOTE 3.500% 3/0 · principal 8,070,000$7.2MNew
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal 4,772,000$7.1MReduce -60.8%
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 8,712,000$6.8MReduce -23.3%
CLEANSPARK INC (CLSK 0 06/15/30) NOTE 6/1 · principal 6,281,000$6.0MNew
WEC ENERGY GROUP INC (WEC 4.375 06/01/29) NOTE 4.375% 6/0 · principal 4,820,000$6.0MNo change
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 5,209,000$5.6MAdd +8.3%
CERENCE INC (CRNC 1.5 07/01/28) NOTE 1.500% 7/0 · principal 6,095,000$5.3MReduce -19.8%
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) NOTE 3.625% 4/1 · principal 4,507,000$4.9MReduce -52.0%
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal 4,395,000$4.4MReduce -71.7%
STRATEGY INC (MSTR 0 03/01/30) NOTE 3/0 · principal 4,477,000$3.9MNew
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 3,181,000$3.8MAdd +79.1%
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 3,849,000$3.5MAdd +1.6%
STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal 4,140,000$3.4MReduce -35.1%
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) NOTE 3.125% 9/1 · principal 2,325,000$3.3MAdd +20.8%
RIOT PLATFORMS INC (RIOT 0.75 01/15/30) NOTE 0.750% 1/1 · principal 2,358,000$2.7MReduce -42.5%
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal 2,746,000$2.6MReduce -21.1%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal 1,812,000$2.1MReduce -10.4%
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal 1,664,000$1.9MNo change
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 1,987,000$1.8MReduce -22.7%
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal 1,554,000$1.8MAdd +406.2%
REDFIN CORP (RDFN 0.5 04/01/27) NOTE 0.500% 4/0 · principal 1,721,000$1.6MNew
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) NOTE 3.500% 3/0 · principal 2,015,000$1.6MNew
JOBY AVIATION INC (JOBY 0.75 02/15/32) NOTE 0.750% 2/1 · principal 1,801,000$1.5MNew
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal 1,388,000$1.3MReduce -24.5%
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal 1,232,000$1.3MNo change
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal 1,211,000$1.1MReduce -42.1%
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal 1,038,000$1.1MNo change
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal 775,000$999KReduce -38.9%
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal 951,000$994KNo change
ITRON INC (ITRI 1.375 07/15/30) NOTE 1.375% 7/1 · principal 980,000$985KReduce -38.6%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 832,000$964KNo change
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal 703,000$948KReduce -30.2%
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) NOTE 2.875% 3/1 · principal 764,000$895KNo change
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 621,000$862KNo change
HAEMONETICS CORP (HAE 2.5 06/01/29) NOTE 2.500% 6/0 · principal 892,000$849KNo change
MKS INC (MKSI 1.25 06/01/30) NOTE 1.250% 6/0 · principal 491,000$811KReduce -77.2%
POST HOLDINGS INC (POST 2.5 08/15/27) NOTE 2.500% 8/1 · principal 728,000$788KNo change
XEROX HOLDINGS CORP (XRX 3.75 03/15/30) NOTE 3.750% 3/1 · principal 2,850,000$760KNo change
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) NOTE 1.250%11/0 · principal 745,000$742KReduce -17.9%
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) NOTE 0.750%12/1 · principal 784,000$734KReduce -18.6%
PARSONS CORP (PSN 2.625 03/01/29) NOTE 2.625% 3/0 · principal 725,000$713KReduce -17.9%
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 721,000$684KReduce -18.8%
BLACKLINE INC (BL 1 06/01/29) NOTE 1.000% 6/0 · principal 715,000$671KReduce -20.6%
FLUOR CORP (FLR 1.125 08/15/29) NOTE 1.125% 8/1 · principal 533,000$656KNo change
REPLIGEN CORP (RGEN 1 12/15/28) NOTE 1.000%12/1 · principal 643,000$625KNo change
CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) NOTE 2.000% 3/1 · principal 580,000$590KNew
WEC ENERGY GROUP INC (WEC 4.375 06/01/27) NOTE 4.375% 6/0 · principal 483,000$582KAdd +103.8%
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 7,900$559KReduce -70.0%
LYFT INC (LYFT 0.625 03/01/29) NOTE 0.625% 3/0 · principal 513,000$518KReduce -16.9%
SOUTHERN CO (SO 4.5 06/15/27) NOTE 4.500% 6/1 · principal 465,000$517KReduce -51.0%
AEROVIRONMENT INC (AVAV 0 07/15/30) NOTE 7/1 · principal 520,000$509KNo change
BRIDGEBIO PHARMA INC (BBIO 1.75 03/01/31) NOTE 1.750% 3/0 · principal 298,000$505KNew
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) NOTE 0.250%10/0 · principal 363,000$453KReduce -40.7%
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) NOTE 2.250% 8/1 · principal 385,000$444KNo change
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) NOTE 4.750% 6/1 · principal 375,000$429KNo change
BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) NOTE 2.250% 2/0 · principal 300,000$335KNew
RFAIR RF Acquisition Corp. II RIGHT 05/01/2026 240,000$29KNo change
UNITY SOFTWARE INC (U 0 03/15/30) NOTE 3/1 · principal 6,000$6KNew
M-TRON INDUSTRIES INC RIGHT 04/15/2026 1,709$4KNo change
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 2,386$1KNo change

Total filed on the 13F, all lines: $302.5B.

Portfolio Sells Q4 2025 → Q1 2026
GOOGL Alphabet Inc. Class A Reduce -7.6% 2.79% −0.45
NVDA Nvidia Corp. Reduce -0.6% 5.19% −0.31
JPM JPMorgan Chase & Co. Reduce -18.4% 0.81% −0.26
LLY Eli Lilly & Co. Reduce -6.8% 1.08% −0.25
ADBE Adobe Inc. Reduce -14.9% 0.27% −0.18
INTU Intuit Inc. Reduce -22.1% 0.18% −0.17
GOOG Alphabet Inc. Class C Reduce -2.5% 1.56% −0.16
PLTR Palantir Technologies Inc. Class A Reduce -7.9% 0.49% −0.15
NOW ServiceNow Inc. Reduce -11.0% 0.21% −0.13
V Visa Inc. Class A Reduce -0.2% 0.88% −0.13
CRM Salesforce Inc. Reduce -10.3% 0.22% −0.12
ORCL Oracle Corp. Reduce -7.4% 0.29% −0.12
ACN Accenture PLC Class A Reduce -23.6% 0.16% −0.12
MA Mastercard Inc. Class A Reduce -6.3% 0.52% −0.10
BAC Bank of America Corp. Reduce -2.2% 0.74% −0.10
HD Home Depot Inc. Reduce -22.6% 0.30% −0.10
APP AppLovin Corp. Class A Reduce -19.7% 0.09% −0.10
AXP American Express Co. Reduce -11.0% 0.27% −0.10
IBM Intl Business Machines Corp. Reduce -9.1% 0.29% −0.09
PYPL PayPal Holdings Inc. Reduce -46.9% 0.06% −0.09
ES Eversource Energy Reduce -71.6% 0.03% −0.08
EXPE Expedia Group Inc. Reduce -62.5% 0.04% −0.08
AMD Advanced Micro Devices Reduce -9.5% 0.56% −0.08
ISRG Intuitive Surgical Inc. Reduce -11.3% 0.21% −0.08
SBAC SBA Communications Corp. Reduce -69.9% 0.03% −0.07
BSX Boston Scientific Corp. Reduce -1.4% 0.14% −0.07
ABBV Abbvie Inc. Reduce -5.9% 0.69% −0.07
PGR Progressive Corp. Reduce -6.7% 0.32% −0.07
LMT Lockheed Martin Corp. Reduce -43.8% 0.16% −0.07
ADSK Autodesk Inc. Reduce -19.3% 0.12% −0.06
STLA Stellantis NV Reduce -52.5% 0.03% −0.06
SE Sea Ltd.-ADR Reduce -36.1% 0.04% −0.06
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -93.2% 0.00% −0.06
WFC Wells Fargo & Co. Reduce -2.6% 0.31% −0.06
COF Capital One Financial Corp. Reduce -5.9% 0.14% −0.06
DELL Dell Technologies -C Reduce -42.5% 0.17% −0.05
SHOP Shopify Inc. Class A Reduce -4.8% 0.13% −0.05
TEAM Atlassian Corp. Class A Reduce -40.0% 0.02% −0.05
CNI Canadian Natl Railway Co. Reduce -19.9% 0.24% −0.05
TTWO Take-Two Interactive Softwre Reduce -21.7% 0.07% −0.04
QGEN Qiagen N.V. Reduce -25.4% 0.07% −0.04
FFIV F5 Inc. Reduce -57.7% 0.04% −0.04
IT Gartner Inc. Reduce -8.3% 0.06% −0.04
MDB Mongodb Inc. Reduce -16.7% 0.04% −0.04
OHI Omega Healthcare Investors Reduce -74.5% 0.01% −0.04
FICO Fair Isaac Corp. Reduce -20.1% 0.04% −0.04
RIO Rio Tinto PLC-Spon ADR Reduce -71.1% 0.02% −0.04
DIS The Walt Disney Co. Reduce -0.4% 0.22% −0.04
TSM Taiwan Semiconductor-SP ADR Reduce -25.9% 0.19% −0.04
WDAY Workday Inc. Class A Reduce -15.6% 0.04% −0.04

Portfolio Buys Q4 2025 → Q1 2026
AZN Astrazeneca PLC Add +4471.3% 0.79% +0.78
TTE Totalenergies SE Add +6.3% 1.29% +0.43
XOM Exxon Mobil Corp. Add +16.9% 0.67% +0.27
JNJ Johnson & Johnson Add +7.0% 1.17% +0.26
AMAT Applied Materials Inc. Add +1.1% 0.73% +0.20
GLW Corning Inc. Add +141.2% 0.23% +0.17
CVX Chevron Corp. Add +26.8% 0.36% +0.16
SNDK Sandisk Corp. Add +12.3% 0.22% +0.15
TRGP Targa Resources Corp. Add +97.2% 0.21% +0.13
LITE Lumentum Holdings Inc. Add +1104.5% 0.13% +0.12
AEM Agnico Eagle Mines Ltd. Add +1.9% 0.59% +0.11
COHR Coherent Corp. Add +582.8% 0.13% +0.11
INTC Intel Corp. Add +11.2% 0.41% +0.10
OKE Oneok Inc. Add +61.4% 0.20% +0.10
ED Consolidated Edison Inc. Add +60.3% 0.22% +0.10
GEV GE Vernova Inc. Add +34.9% 0.22% +0.10
MU Micron Technology Inc. Add +2.7% 0.52% +0.10
EQIX Equinix Inc. Add +4.6% 0.37% +0.10
NEE Nextera Energy Inc. Add +2.5% 0.54% +0.09
TMUS T-Mobile US Inc. Add +54.7% 0.23% +0.09
STX Seagate Technology Holdings Add +9.9% 0.23% +0.08
BABA Alibaba Group Holding-SP ADR Add +1567.9% 0.09% +0.08
COP Conocophillips Add +25.8% 0.18% +0.08
VZ Verizon Communications Inc. Add +6.3% 0.33% +0.08
NFLX Netflix Inc. Add +10.7% 0.58% +0.08
BA The Boeing Co. Add +52.4% 0.24% +0.07
PG The Procter & Gamble Co. Add +16.2% 0.44% +0.07
TER Teradyne Inc. Add +127.1% 0.08% +0.06
KMI Kinder Morgan Inc. Add +16.9% 0.19% +0.06
BRK.B Berkshire Hathaway Inc. Class B Add +15.4% 0.57% +0.06
KLAC KLA Corp. Add +9.1% 0.23% +0.06
CL Colgate-Palmolive Co. Add +10.0% 0.34% +0.06
T AT&T Inc. Add +2.7% 0.31% +0.06
GE General Electric Add +27.1% 0.33% +0.05
PBA Pembina Pipeline Corp. Add +95.9% 0.08% +0.05
AMT American Tower Corp. Add +12.4% 0.44% +0.05
O Realty Income Corp. Add +38.0% 0.14% +0.05
TRP TC Energy Corp. Add +1.6% 0.32% +0.05
PBR Petroleo Brasileiro-Spon ADR Add +102610.1% 0.05% +0.05
SPOT Spotify Technology SA Add +37.7% 0.33% +0.05
AEP American Electric Power Add +54.1% 0.11% +0.05
OXY Occidental Petroleum Corp. Add +92.3% 0.07% +0.04
NEM Newmont Corp. Add +4.3% 0.33% +0.04
DVN Devon Energy Corp. Add +35.2% 0.09% +0.04
PFE Pfizer Inc. Add +1.7% 0.29% +0.04
AU Anglogold Ashanti PLC Add +11.1% 0.18% +0.04
ETR Entergy Corp. Add +53.5% 0.09% +0.04
NI Nisource Inc. Add +13.2% 0.18% +0.04
SUNB Sunbelt Rentals Holdings Inc. New 0.04% +0.04
VLO Valero Energy Corp. Add +29.7% 0.08% +0.04

Options Activity Q4 2025 → Q1 2026
ECHO Echostar Corp. Class A put Reduce -20.3% 239,500 $28.0M
LUV Southwest Airlines Co. call New 500,000 $18.8M
EW Edwards Lifesciences Corp. put New 131,400 $10.5M
NET Cloudflare Inc. Class A call New 50,000 $10.3M
ASTS Ast Spacemobile Inc. put Sold out 124,200 $9.0Mbefore exit
GPN Global Payments Inc. call Add +72.4% 100,000 $6.7M
NET Cloudflare Inc. Class A put New 31,700 $6.5M
CNK Cinemark Holdings Inc. call Sold out 250,000 $5.8Mbefore exit
PG The Procter & Gamble Co. put Sold out 37,500 $5.4Mbefore exit
JD.COM INC (JD 0.25 06/01/29) put Sold out 4,857,000 $4.9Mbefore exit
CRM Salesforce Inc. put New 25,200 $4.7M
PENG Penguin Solutions Inc. call Sold out 226,700 $4.4Mbefore exit
HWM Howmet Aerospace Inc. put New 17,000 $3.9M
ADSK Autodesk Inc. put New 15,700 $3.8M
BFH Bread Financial Holdings Inc. put Sold out 50,000 $3.7Mbefore exit
GME Gamestop Corp. Class A call Add +49.8% 157,300 $3.6M
NOW ServiceNow Inc. put New 33,900 $3.5M
WELL Welltower Inc. put Sold out 19,000 $3.5Mbefore exit
BKNG Booking Holdings Inc. put New 800 $3.4M
DELL Dell Technologies -C put New 19,000 $3.1M
JCI Johnson Controls Internation put New 22,000 $2.9M
NEM Newmont Corp. put Sold out 23,000 $2.3Mbefore exit
AAPL Apple Inc. put Sold out 8,100 $2.2Mbefore exit
STLA Stellantis NV call Sold out 195,000 $2.1Mbefore exit
KKR KKR & Co. Inc. put Sold out 16,500 $2.1Mbefore exit
F Ford Motor Co. call Sold out 150,000 $2.0Mbefore exit
SNOW Snowflake Inc. put Sold out 8,000 $1.8Mbefore exit
AVGO Broadcom Inc. put New 5,600 $1.7M
B Barrick Mining Corp. put Reduce -26.3% 42,000 $1.7M
NVDA Nvidia Corp. put Sold out 9,100 $1.7Mbefore exit
RIVN Rivian Automotive Inc. Class A put Reduce -8.0% 100,000 $1.5M
ASTS Ast Spacemobile Inc. call Sold out 20,000 $1.5Mbefore exit
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) put New 1,382,000 $1.4M
TTE Totalenergies SE call Sold out 20,000 $1.3Mbefore exit
NVDA Nvidia Corp. call New 6,400 $1.1M
AVGO Broadcom Inc. call New 3,500 $1.1M
MSFT Microsoft Corp. call New 2,500 $925K
STRATEGY INC (MSTR 0.625 03/15/30) put New 769,000 $883K
ATEC Alphatec Holdings Inc. call Sold out 40,000 $842Kbefore exit
BE Bloom Energy Corp. Class A call New 6,000 $813K
CAH Cardinal Health Inc. put New 3,800 $803K
NIO INC (NIO 4.625 10/15/30) put Add +23.4% 790,000 $781K
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) call Sold out 500,000 $664Kbefore exit
STRATEGY INC (MSTR 0.875 03/15/31) put Sold out 628,000 $645Kbefore exit
NIO INC (NIO 3.875 10/15/29) put Sold out 625,000 $589Kbefore exit
MARA HOLDINGS INC (MARA 0 03/01/30) put Sold out 566,000 $444Kbefore exit
EXEEL Chesapeake Energy Corp. -CW26 call Sold out 11 $1Kbefore exit
OPENW Opendoor Technologies Inc.-26 call Reduce -60.8% 167 $102
OPENL Opendoor Technologies Inc.-26 call Reduce -60.8% 167 $42

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

Notes & Other Activity Q4 2025 → Q1 2026
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal Sold out 26,393,000 $27.2Mbefore exit
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal Sold out 17,934,000 $18.6Mbefore exit
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Reduce -21.5% 12,643,000 $17.5M
STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal Add +19.9% 15,076,000 $15.3M
ORACLE CORP (ORCL 6.5 01/15/29 D) 6.5 DEP CUM SR D New 294,900 $13.3M
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal Add +16.1% 12,427,000 $12.1M
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal Add +3.4% 7,530,000 $9.5M
PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) NOTE 5.500%12/0 · principal Reduce -32.4% 6,462,000 $8.6M
STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal Add +139.9% 7,474,000 $8.2M
PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) NOTE 2.125% 5/1 · principal Add +0.1% 8,011,000 $7.7M
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) NOTE 3.750% 3/1 · principal Add +15.8% 7,127,000 $7.4M
ALKAMI TECHNOLOGY INC (ALKTEC 1.5 03/15/30) NOTE 1.500% 3/1 · principal New 8,069,000 $7.2M
PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) NOTE 3.500% 3/0 · principal New 8,070,000 $7.2M
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal Reduce -60.8% 4,772,000 $7.1M
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal Reduce -23.3% 8,712,000 $6.8M
CLEANSPARK INC (CLSK 0 06/15/30) NOTE 6/1 · principal New 6,281,000 $6.0M
HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal Sold out 5,542,000 $6.0Mbefore exit
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal Add +8.3% 5,209,000 $5.6M
CERENCE INC (CRNC 1.5 07/01/28) NOTE 1.500% 7/0 · principal Reduce -19.8% 6,095,000 $5.3M
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) NOTE 3.625% 4/1 · principal Reduce -52.0% 4,507,000 $4.9M
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal Reduce -71.7% 4,395,000 $4.4M
STRATEGY INC (MSTR 0 03/01/30) NOTE 3/0 · principal New 4,477,000 $3.9M
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal Add +79.1% 3,181,000 $3.8M
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal Add +1.6% 3,849,000 $3.5M
STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal Reduce -35.1% 4,140,000 $3.4M
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) NOTE 3.125% 9/1 · principal Add +20.8% 2,325,000 $3.3M
RIOT PLATFORMS INC (RIOT 0.75 01/15/30) NOTE 0.750% 1/1 · principal Reduce -42.5% 2,358,000 $2.7M
GUESS INC (GES 3.75 04/15/28) NOTE 3.750% 4/1 · principal Sold out 2,700,000 $2.7Mbefore exit
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal Reduce -21.1% 2,746,000 $2.6M
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal Reduce -10.4% 1,812,000 $2.1M
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal Reduce -22.7% 1,987,000 $1.8M
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal Add +406.2% 1,554,000 $1.8M
REDFIN CORP (RDFN 0.5 04/01/27) NOTE 0.500% 4/0 · principal New 1,721,000 $1.6M
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) NOTE 3.500% 3/0 · principal New 2,015,000 $1.6M
JOBY AVIATION INC (JOBY 0.75 02/15/32) NOTE 0.750% 2/1 · principal New 1,801,000 $1.5M
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal Sold out 1,335,000 $1.3Mbefore exit
CLOUDFLARE INC (NET 0 08/15/26) NOTE 8/1 · principal Sold out 1,149,000 $1.3Mbefore exit
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal Reduce -24.5% 1,388,000 $1.3M
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal Sold out 867,000 $1.2Mbefore exit
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal Sold out 900,000 $1.2Mbefore exit
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal Sold out 877,000 $1.2Mbefore exit
NUTANIX INC (NTNX 0.5 12/15/29) NOTE 0.500%12/1 · principal Sold out 1,145,000 $1.1Mbefore exit
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal Reduce -42.1% 1,211,000 $1.1M
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal Sold out 1,063,000 $1.1Mbefore exit
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal Reduce -38.9% 775,000 $999K
ALLIANT ENERGY CORP (LNT 3.875 03/15/26) NOTE 3.875% 3/1 · principal Sold out 957,000 $994Kbefore exit
ITRON INC (ITRI 1.375 07/15/30) NOTE 1.375% 7/1 · principal Reduce -38.6% 980,000 $985K
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal Reduce -30.2% 703,000 $948K
MKS INC (MKSI 1.25 06/01/30) NOTE 1.250% 6/0 · principal Reduce -77.2% 491,000 $811K
NABORS INDUSTRIES INC (NBR 1.75 06/15/29) NOTE 1.750% 6/1 · principal Sold out 1,000,000 $805Kbefore exit

Showing the first 50 of 67.

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