Financial Sense Advisors, Inc.

Name: Financial Sense Advisors, Inc. 13F holdings, Q3 2025
Creator: Financial Sense Advisors, Inc.
Published: 2025-11-14

Q2 2026Q1 2026Q4 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Financial Sense Advisors, Inc. reported 149 stock positions worth $486.3 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 7.5% of the portfolio, followed by iShares Floating Rate Bond E (FLOT, 7.4%) and iShares Bitcoin Trust ETF (IBIT, 7.1%). Compared with Q2 2025, it opened 36 new positions, sold out of 21, added to 46 and reduced 56. The biggest buy was iShares Floating Rate Bond E (FLOT, shares +773%) and the biggest sale Alphabet Class C (GOOG, shares −99%).

Most Recent 13F: Q2 2026
Location: SAN DIEGO, CA
CIK: 0001358828
Portfolio Value: $486.3M (Q3 2025)
SEC Filing: 0001358828-25-000005 ↗ filed Nov 14, 2025

Holdings Value

Holdings 149 stocks · $486.3M


VOO Vanguard S&P 500 ETF	7.49%	59,438	$36.4M	Reduce -4.8%
FLOT iShares Floating Rate Bond E	7.43%	707,462	$36.1M	Add +772.5%
IBIT iShares Bitcoin Trust ETF	7.10%	531,055	$34.5M	Reduce -16.5%
PAAS Pan American Silver Corp.	5.56%	697,605	$27.0M	Reduce -19.4%
TSLA Tesla Inc.	5.36%	58,569	$26.0M	Reduce -0.9%
BP BP PLC-Spons ADR	4.07%	574,665	$19.8M	Add +289.5%
NEM Newmont Corp.	3.45%	199,086	$16.8M	Reduce -20.3%
TEVA Teva Pharmaceutical-SP ADR	3.34%	803,104	$16.2M	Add +19.3%
FCG First Trust Natural Gas ETF	2.59%	536,663	$12.6M	Add +370.6%
SHYG iShares 0-5 YR HY Corp. Bond	2.43%	273,186	$11.8M	Add +79.0%
BLOCK INC (XYZ 0 05/01/26)	2.23%	11,150,000	$10.8M	Reduce -37.7%
REMX Vaneck Rar Earth ND STG-Usdi	1.84%	136,206	$9.0M	New
HESM Hess Midstream LP Class A	1.74%	245,181	$8.5M	Reduce -23.3%
FCX Freeport-McMoran Inc.	1.67%	206,975	$8.1M	Add +46.0%
B Barrick Mining Corp.	1.64%	242,975	$8.0M	Reduce -5.4%
PLTR Palantir Technologies Inc. Class A	1.44%	38,375	$7.0M	No change
FSLR First Solar Inc.	1.42%	31,336	$6.9M	Reduce -3.1%
WPM Wheaton Precious Metals Corp.	1.29%	56,280	$6.3M	Reduce -30.0%
MO Altria Group Inc.	1.25%	91,776	$6.1M	Reduce -1.2%
AEM Agnico Eagle Mines Ltd.	1.21%	34,991	$5.9M	Reduce -10.4%
MSFT Microsoft Corp.	1.08%	10,135	$5.2M	Reduce -0.1%
IAU iShares Gold Trust	1.06%	70,973	$5.2M	Add +4.6%
XOM Exxon Mobil Corp.	1.06%	45,509	$5.1M	Add +0.2%
SLV iShares Silver Trust	1.04%	119,318	$5.1M	Reduce -16.8%
PSLV Sprott Physical Silver Trust	1.03%	319,006	$5.0M	Reduce -23.5%
SHLD Global X Defense Tech ETF	0.96%	66,691	$4.7M	Add +0.1%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.94%	52,173	$4.6M	New
NEE Nextera Energy Inc.	0.92%	59,210	$4.5M	Add +0.7%
AMLP Alerian MLP ETF	0.86%	88,875	$4.2M	Reduce -15.2%
TGT Target Corp.	0.85%	46,184	$4.1M	Reduce -29.0%
MRK Merck & Co. Inc.	0.83%	47,977	$4.0M	Add +1270.8%
IVZ Invesco Ltd.	0.74%	156,345	$3.6M	New
NTR Nutrien Ltd.	0.72%	60,045	$3.5M	Add +328.9%
XLE SS Energy Select Sector	0.72%	39,192	$3.5M	Add +0.1%
AMGN Amgen Inc.	0.67%	11,528	$3.3M	Add +6.7%
CVX Chevron Corp.	0.66%	20,662	$3.2M	Add +1.5%
LNG Cheniere Energy Inc.	0.64%	13,261	$3.1M	Add +0.9%
BWXT BWX Technologies Inc.	0.60%	15,703	$2.9M	Add +15.3%
RTX RTX Corp.	0.59%	17,076	$2.9M	Add +27.9%
SPTM SS SPDR P S&P 1500 Comp ETF	0.59%	35,392	$2.9M	Add +0.5%
WHR Whirlpool Corp.	0.55%	34,215	$2.7M	Reduce -64.5%
XLK SS Technology Select Sector	0.54%	9,254	$2.6M	Add +1.8%
PALL Abrdn Physical Palladium SHS	0.52%	22,250	$2.5M	Add +178.1%
ARKQ ARK Autonomous Tech & Robot	0.48%	20,715	$2.3M	Reduce -48.5%
AAPL Apple Inc.	0.47%	9,002	$2.3M	Add +28.4%
KTOS Kratos Defense & Security	0.46%	24,390	$2.2M	New
EUAD Select Stoxx Eur Aer DE ETF	0.45%	46,443	$2.2M	Add +1.8%
NUKZ Range Nuclear Renaissance filed as EXCHANGE TRADED CONCEPTS TRU	0.43%	32,256	$2.1M	New
IWF iShares Russell 1000 Growth	0.42%	4,361	$2.0M	Add +1.2%
CEF Sprott Physical Gold and Sil	0.38%	50,167	$1.8M	Reduce -21.7%
KWEB Kranesh Csi China Internet	0.37%	43,278	$1.8M	Add +341.8%
COP Conocophillips	0.35%	18,251	$1.7M	Reduce -0.9%
DAX Global X Dax Germany ETF	0.35%	38,387	$1.7M	Add +0.4%
BITX 2X Bitcoin ETF	0.34%	29,700	$1.6M	Reduce -3.9%
XLI SS Industrial Select Sector	0.32%	10,075	$1.6M	Add +3.8%
MP MP Materials Corp.	0.32%	23,000	$1.5M	New
LQD Ishr Ibx Usd Invgd CB ETF-Ui	0.31%	13,681	$1.5M	Reduce -2.7%
APUE Activepassive US Equity ETF	0.31%	36,768	$1.5M	Add +0.6%
VALE Vale SA-SP ADR	0.29%	129,950	$1.4M	New
DVN Devon Energy Corp.	0.29%	39,732	$1.4M	New
NWL Newell Brands Inc.	0.28%	259,112	$1.4M	Reduce -85.8%
INTC Intel Corp.	0.27%	39,645	$1.3M	New
OIH Vaneck Oil Services ETF	0.26%	4,800	$1.2M	New
LLY Eli Lilly & Co.	0.25%	1,594	$1.2M	Reduce -2.9%
EQT Eqt Corp.	0.24%	21,759	$1.2M	Add +1.6%
PFE Pfizer Inc.	0.24%	46,305	$1.2M	Add +37.5%
NVDA Nvidia Corp.	0.24%	6,157	$1.1M	Reduce -6.3%
ABBV Abbvie Inc.	0.22%	4,724	$1.1M	Reduce -2.4%
BABA Alibaba Group Holding-SP ADR	0.22%	6,046	$1.1M	Add +1.6%
PHYS Sprott Physical Gold Trust	0.22%	36,437	$1.1M	No change
XOP SS SPDR S&P Og Exp & Prod	0.22%	8,000	$1.1M	New
QQQ Invesco QQQ Trust Series 1	0.21%	1,731	$1.0M	Reduce -0.3%
TER Teradyne Inc.	0.21%	7,471	$1.0M	Reduce -6.1%
NSC Norfolk Southern Corp.	0.21%	3,420	$1.0M	No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.20%	3,382	$954K	Add +0.5%
FBTC Fidelity Wise Origin Bitcoin	0.20%	9,540	$952K	New
UNH Unitedhealth Group Inc.	0.19%	2,728	$942K	New
AG First Majestic Silver Corp.	0.19%	74,782	$919K	Reduce -19.6%
AVGO Broadcom Inc.	0.19%	2,755	$909K	Reduce -26.6%
AVAV Aerovironment Inc.	0.18%	2,800	$882K	Add +64.7%
BHP BHP Group Ltd.-Spon ADR	0.18%	15,776	$880K	Add +199.0%
SJT San Juan Basin Royalty TR	0.17%	139,734	$844K	New
BDYN iShares DYN Act ETF	0.17%	33,341	$844K	New
RIO Rio Tinto PLC-Spon ADR	0.17%	12,500	$825K	New
MDT Medtronic PLC	0.17%	8,632	$822K	Reduce -3.7%
GLD SPDR Gold Shares	0.17%	2,285	$812K	Reduce -0.2%
USMV iShares MSCI USA Min Vol Fac	0.16%	8,406	$800K	Reduce -2.5%
USAR USA Rare Earth Inc.	0.16%	46,000	$791K	New
T AT&T Inc.	0.16%	27,692	$782K	Reduce -7.9%
BTG B2GOLD Corp.	0.16%	155,000	$767K	New
SCHG Schwab US Large-Cap Growth	0.16%	23,999	$766K	Add +8.6%
PPLT Abrdn Physical Platinum SHRS	0.16%	5,285	$755K	New
MUB iShares National Muni Bond E	0.15%	6,727	$716K	Reduce -0.3%
SPY SS SPDR S&P 500 ETF Trust-US	0.14%	1,035	$689K	Add +8.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.14%	5,981	$685K	Reduce -4.9%
QCOM Qualcomm Inc.	0.14%	4,108	$683K	Add +0.4%
APIE Activepassive Intl Eqty ETF	0.13%	18,099	$642K	Reduce -9.8%
CRM Salesforce Inc.	0.13%	2,689	$637K	Reduce -6.2%
DELL Dell Technologies -C	0.13%	4,495	$637K	Reduce -6.9%
SCCO Southern Copper Corp.	0.13%	5,250	$637K	Add +1.0%
IWP iShares Russell Mid-Cap Grow	0.12%	4,239	$604K	Add +0.1%
BKR Baker Hughes Co.	0.12%	12,031	$586K	New
VST Vistra Corp.	0.12%	2,888	$566K	Reduce -34.5%
APCB Activepassive Core Bond ETF	0.12%	18,935	$565K	Add +2.8%
XES SS SPDR S&P Og Eqp & Serv	0.11%	7,717	$558K	Reduce -11.8%
TPL Texas Pacific Land Corp.	0.11%	585	$546K	New
BDVL iShares DV Equity Active ETF	0.10%	20,077	$502K	New
ALM Almonty Industries Inc.	0.10%	80,000	$482K	New
URA Global X Uranium ETF	0.10%	10,010	$477K	Add +5.3%
SPG Simon Property Group Inc.	0.10%	2,500	$469K	No change
PBT Permian Basin Royalty Trust	0.09%	25,000	$456K	No change
USFR Wisdomtree Floating Rate Tre	0.09%	8,672	$436K	New
NE Noble Corp. PLC	0.09%	15,000	$424K	New
NATO Themes Transatlantic Defense	0.08%	10,500	$411K	No change
CCJ Cameco Corp.	0.08%	4,761	$399K	New
COPX Global X Copper Miners ETF	0.08%	6,562	$392K	Add +0.2%
WMT Walmart Inc.	0.08%	3,759	$387K	Add +0.1%
AGG iShares Core U.S. Aggregate	0.08%	3,731	$374K	Reduce -1.1%
GEV GE Vernova Inc.	0.08%	596	$366K	No change
D Dominion Energy Inc.	0.08%	5,978	$366K	Add +0.1%
DHR Danaher Corp.	0.07%	1,823	$361K	No change
BBY Best Buy Co. Inc.	0.07%	4,735	$358K	Reduce -10.6%
IWO iShares Russell 2000 Growth	0.07%	1,113	$356K	Reduce -6.4%
LH Labcorp Holdings Inc.	0.07%	1,208	$347K	No change
VLO Valero Energy Corp.	0.07%	2,000	$341K	New
MBB iShares MBS ETF	0.07%	3,409	$324K	Reduce -11.6%
VSAT Viasat Inc.	0.07%	11,000	$322K	New
XLF SS Financial Select Sector	0.07%	5,895	$318K	Add +36.7%
XYZ Block Inc.	0.06%	3,802	$275K	Reduce -13.3%
IVV iShares Core S&P 500 ETF	0.06%	409	$274K	Reduce -9.9%
APMU Activepassive Interm Muni BD	0.06%	10,651	$268K	Reduce -44.6%
RIG Transocean Ltd.	0.05%	82,569	$258K	New
NMG Nouveau Monde Graphite Inc.	0.05%	90,164	$256K	New
GOOG Alphabet Inc. Class C	0.05%	1,008	$246K	Reduce -98.8%
GS Goldman Sachs Group Inc.	0.05%	300	$239K	No change
TLH iShares 10-20 Year Treasury	0.05%	2,319	$239K	New
IUSB Ishr CR Unvrse Usd BD ETF-Ui	0.05%	4,947	$231K	Reduce -6.8%
PYPL PayPal Holdings Inc.	0.05%	3,408	$229K	Reduce -9.6%
IEFA iShares Core MSCI Eafe ETF	0.05%	2,553	$223K	Reduce -30.8%
DHS Wisdomtree US High Dividend	0.05%	2,209	$223K	Reduce -0.6%
IEUR iShares Core MSCI Europe ETF	0.05%	3,238	$221K	Add +5.8%
GLDM SPDR Gold Minishares Trust	0.05%	2,870	$219K	New
EFV iShares MSCI Eafe Value ETF	0.04%	3,223	$219K	Reduce -2.4%
FISR SS Fi Sector Rotation	0.04%	8,099	$211K	No change
IWS iShares Russell Mid-Cap Valu	0.04%	1,480	$207K	New
PPTA Perpetua Resources Corp.	0.04%	10,000	$202K	New
DSX Diana Shipping Inc.	0.03%	100,000	$168K	New
TRX TRX Gold Corp.	0.03%	198,483	$124K	Reduce -16.8%
DNN Denison Mines Corp.	0.01%	13,786	$38K	New

Options reported separately and not counted above: SPY puts ($30.0M), DVN calls ($9.6M), VALE calls ($3.3M), NE calls ($1.4M), NWL calls ($472K), DSX calls ($84K).

Other holdings (3): bonds, preferreds, convertibles and warrants · $55.6M (not counted above)

Security	Class	Shares / Principal	Value	Change
NEXTERA ENERGY INC (NEE 7.234 11/01/27)	UNIT 11/01/2027	435,426	$20.5M	New
HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	272,953	$18.5M	New
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	437,215	$16.6M	Add +84.3%

Total filed on the 13F, all lines: $541.9M.

Portfolio Sells Q2 2025 → Q3 2025


GOOG Alphabet Inc. Class C	Reduce -98.8%	0.05%	−3.79
IBIT iShares Bitcoin Trust ETF	Reduce -16.5%	7.10%	−2.51
NWL Newell Brands Inc.	Reduce -85.8%	0.28%	−2.14
GDXJ Vaneck Junior Gold Miners	Sold out	0.00%	−2.14
BLOCK INC (XYZ 0 05/01/26)	Reduce -37.7%	2.23%	−1.99
WHR Whirlpool Corp.	Reduce -64.5%	0.55%	−1.86
HESM Hess Midstream LP Class A	Reduce -23.3%	1.74%	−1.29
VOO Vanguard S&P 500 ETF	Reduce -4.8%	7.49%	−1.27
TGT Target Corp.	Reduce -29.0%	0.85%	−0.73
PAAS Pan American Silver Corp.	Reduce -19.4%	5.56%	−0.51
WPM Wheaton Precious Metals Corp.	Reduce -30.0%	1.29%	−0.49
MSTR Strategy Inc.	Sold out	0.00%	−0.48
ARKQ ARK Autonomous Tech & Robot	Reduce -48.5%	0.48%	−0.41
AMLP Alerian MLP ETF	Reduce -15.2%	0.86%	−0.41
SCHD Schwab US DVD Equity ETF	Sold out	0.00%	−0.39
SIL Global X Silver Miners ETF	Sold out	0.00%	−0.33
TBF Proshares Short 20+ Treasury	Sold out	0.00%	−0.28
PSLV Sprott Physical Silver Trust	Reduce -23.5%	1.03%	−0.23
AMD Advanced Micro Devices	Sold out	0.00%	−0.20
NGD New Gold Inc.	Sold out	0.00%	−0.18
MSFT Microsoft Corp.	Reduce -0.1%	1.08%	−0.17
NEM Newmont Corp.	Reduce -20.3%	3.45%	−0.14
JD Jd.com Inc.-ADR	Sold out	0.00%	−0.12
SLV iShares Silver Trust	Reduce -16.8%	1.04%	−0.12
CDE Coeur Mining Inc.	Sold out	0.00%	−0.11
QUAL iShares MSCI USA Quality Fac	Sold out	0.00%	−0.11
MO Altria Group Inc.	Reduce -1.2%	1.25%	−0.10
CEF Sprott Physical Gold and Sil	Reduce -21.7%	0.38%	−0.10
VST Vistra Corp.	Reduce -34.5%	0.12%	−0.09
SBSW Sibanye-Stillwater Ltd.-ADR	Sold out	0.00%	−0.09
BITX 2X Bitcoin ETF	Reduce -3.9%	0.34%	−0.08
PAA Plains All Amer Pipeline LP	Sold out	0.00%	−0.07
AVGO Broadcom Inc.	Reduce -26.6%	0.19%	−0.07
LQD Ishr Ibx Usd Invgd CB ETF-Ui	Reduce -2.7%	0.31%	−0.07
ETN Eaton Corp. PLC	Sold out	0.00%	−0.07
LLY Eli Lilly & Co.	Reduce -2.9%	0.25%	−0.07
VRT Vertiv Holdings Co. Class A	Sold out	0.00%	−0.06
APMU Activepassive Interm Muni BD	Reduce -44.6%	0.06%	−0.06
CRM Salesforce Inc.	Reduce -6.2%	0.13%	−0.06
LYB Lyondellbasell Indu Class A	Sold out	0.00%	−0.06
T AT&T Inc.	Reduce -7.9%	0.16%	−0.05
COP Conocophillips	Reduce -0.9%	0.35%	−0.05
DIS The Walt Disney Co.	Reduce -4.9%	0.14%	−0.05
IYW iShares Ustechnology ETF	Sold out	0.00%	−0.05
UEC Uranium Energy Corp.	Sold out	0.00%	−0.05
FRO Frontline PLC	Sold out	0.00%	−0.04
ASML ASML Holding NV-NY Reg SHS	Sold out	0.00%	−0.04
WBA Walgreens Boots Alliance Inc.	Sold out	0.00%	−0.04
USMV iShares MSCI USA Min Vol Fac	Reduce -2.5%	0.16%	−0.04
APIE Activepassive Intl Eqty ETF	Reduce -9.8%	0.13%	−0.03

Portfolio Buys Q2 2025 → Q3 2025


FLOT iShares Floating Rate Bond E	Add +772.5%	7.43%	+6.41
BP BP PLC-Spons ADR	Add +289.5%	4.07%	+2.98
FCG First Trust Natural Gas ETF	Add +370.6%	2.59%	+1.94
REMX Vaneck Rar Earth ND STG-Usdi	New	1.84%	+1.84
XLU St Sr Utl SL SE SPDR ETF-Usd	New	0.94%	+0.94
SHYG iShares 0-5 YR HY Corp. Bond	Add +79.0%	2.43%	+0.81
MRK Merck & Co. Inc.	Add +1270.8%	0.83%	+0.76
IVZ Invesco Ltd.	New	0.74%	+0.74
TEVA Teva Pharmaceutical-SP ADR	Add +19.3%	3.34%	+0.55
NTR Nutrien Ltd.	Add +328.9%	0.72%	+0.52
KTOS Kratos Defense & Security	New	0.46%	+0.46
NUKZ Range Nuclear Renaissance	New	0.43%	+0.43
PALL Abrdn Physical Palladium SHS	Add +178.1%	0.52%	+0.32
MP MP Materials Corp.	New	0.32%	+0.32
KWEB Kranesh Csi China Internet	Add +341.8%	0.37%	+0.29
VALE Vale SA-SP ADR	New	0.29%	+0.29
DVN Devon Energy Corp.	New	0.29%	+0.29
INTC Intel Corp.	New	0.27%	+0.27
OIH Vaneck Oil Services ETF	New	0.26%	+0.26
XOP SS SPDR S&P Og Exp & Prod	New	0.22%	+0.22
FBTC Fidelity Wise Origin Bitcoin	New	0.20%	+0.20
UNH Unitedhealth Group Inc.	New	0.19%	+0.19
SJT San Juan Basin Royalty TR	New	0.17%	+0.17
BDYN iShares DYN Act ETF	New	0.17%	+0.17
RIO Rio Tinto PLC-Spon ADR	New	0.17%	+0.17
USAR USA Rare Earth Inc.	New	0.16%	+0.16
BTG B2GOLD Corp.	New	0.16%	+0.16
PPLT Abrdn Physical Platinum SHRS	New	0.16%	+0.16
FCX Freeport-McMoran Inc.	Add +46.0%	1.67%	+0.15
BKR Baker Hughes Co.	New	0.12%	+0.12
BHP BHP Group Ltd.-Spon ADR	Add +199.0%	0.18%	+0.12
AAPL Apple Inc.	Add +28.4%	0.47%	+0.12
TPL Texas Pacific Land Corp.	New	0.11%	+0.11
BWXT BWX Technologies Inc.	Add +15.3%	0.60%	+0.11
RTX RTX Corp.	Add +27.9%	0.59%	+0.11
BDVL iShares DV Equity Active ETF	New	0.10%	+0.10
ALM Almonty Industries Inc.	New	0.10%	+0.10
USFR Wisdomtree Floating Rate Tre	New	0.09%	+0.09
NE Noble Corp. PLC	New	0.09%	+0.09
CCJ Cameco Corp.	New	0.08%	+0.08
VLO Valero Energy Corp.	New	0.07%	+0.07
VSAT Viasat Inc.	New	0.07%	+0.07
AVAV Aerovironment Inc.	Add +64.7%	0.18%	+0.06
BABA Alibaba Group Holding-SP ADR	Add +1.6%	0.22%	+0.06
RIG Transocean Ltd.	New	0.05%	+0.05
NMG Nouveau Monde Graphite Inc.	New	0.05%	+0.05
TLH iShares 10-20 Year Treasury	New	0.05%	+0.05
GLDM SPDR Gold Minishares Trust	New	0.05%	+0.05
IWS iShares Russell Mid-Cap Valu	New	0.04%	+0.04
PPTA Perpetua Resources Corp.	New	0.04%	+0.04

Options Activity Q2 2025 → Q3 2025


SPY SS SPDR S&P 500 ETF Trust-US	put	New	45,000	$30.0M
DVN Devon Energy Corp.	call	New	275,000	$9.6M
SLV iShares Silver Trust	call	Sold out	200,000	$6.6Mbefore exit
VALE Vale SA-SP ADR	call	New	300,000	$3.3M
MSTR Strategy Inc.	call	Sold out	5,000	$2.0Mbefore exit
NE Noble Corp. PLC	call	New	50,000	$1.4M
ASML ASML Holding NV-NY Reg SHS	call	Sold out	1,500	$1.2Mbefore exit
IBIT iShares Bitcoin Trust ETF	call	Sold out	15,000	$918Kbefore exit
TGT Target Corp.	call	Sold out	5,000	$493Kbefore exit
NWL Newell Brands Inc.	call	Sold out	90,000	$486Kbefore exit
NWL Newell Brands Inc.	call	New	90,000	$472K
DSX Diana Shipping Inc.	call	New	50,000	$84K

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


NEXTERA ENERGY INC (NEE 7.234 11/01/27)	UNIT 11/01/2027	New	435,426	$20.5M
HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	New	272,953	$18.5M
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	Add +84.3%	437,215	$16.6M

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	134	$460.0M	VOO, EMB, FCX, NORTHERN OIL & GAS INC (NOG 3.625 04/15/29), TSLA
Q1 2026	139	$431.3M	VOO, EMB, FCX, NORTHERN OIL & GAS INC (NOG 3.625 04/15/29), TSLA
Q4 2025	143	$472.0M	VOO, FLOT, TSLA, IBIT, TEVA
Q3 2025	149	$486.3M	VOO, FLOT, IBIT, PAAS, TSLA
Q2 2025	134	$405.2M	IBIT, VOO, PAAS, TSLA, BLOCK INC (XYZ 0 05/01/26)
Q1 2025	112	$349.8M	VOO, IBIT, PAAS, TSLA, BLOCK INC (XYZ 0 05/01/26)
Q4 2024	104	$297.7M	VOO, IBIT, TSLA, BLOCK INC (XYZ 0 05/01/26), PAAS
Q3 2024	119	$362.4M	VOO, EMB, IBIT, TSLA, B
Q2 2024	111	$315.7M	VOO, IBIT, GOOG, B, PAAS
Q1 2024	108	$281.3M	VOO, MSTR, B, GOOG, PAAS