Goldman Sachs Group Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed March 25, 2026), Goldman Sachs Group Inc. reported 5,195 stock positions worth $702.6 billion. Its top holding was Nvidia (NVDA) at 4.4% of the portfolio, followed by Apple (AAPL, 3.8%) and Microsoft (MSFT, 3.5%). Compared with Q3 2025, it opened 442 new positions, sold out of 368, added to 2,700 and reduced 1,868. The biggest buy was Alphabet Class A (GOOGL, shares +2%) and the biggest sale Microsoft (MSFT, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0000886982
- Portfolio Value
- $702.6B (Q4 2025)
- SEC Filing
- 0000886982-26-000093 ↗ filed Mar 25, 2026
Holdings Value
Holdings 5,195 stocks · $702.6B
| NVDA Nvidia Corp. | 4.43% | 166,786,717 | $31.1B | Reduce -0.7% |
| AAPL Apple Inc. | 3.84% | 99,164,706 | $27.0B | Add +2.7% |
| MSFT Microsoft Corp. | 3.54% | 51,400,668 | $24.9B | Reduce -5.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.21% | 33,086,454 | $22.6B | Reduce -8.6% |
| GOOGL Alphabet Inc. Class A | 2.33% | 52,235,899 | $16.3B | Add +1.6% |
| AMZN Amazon.com Inc. | 2.11% | 64,210,840 | $14.8B | Add +1.1% |
| TSLA Tesla Inc. | 1.76% | 27,419,658 | $12.3B | Reduce -8.3% |
| AVGO Broadcom Inc. | 1.64% | 33,381,348 | $11.6B | Reduce -9.3% |
| META Meta Platforms Inc. Class A | 1.45% | 15,466,876 | $10.2B | Reduce -13.4% |
| IVV iShares Core S&P 500 ETF | 1.34% | 13,788,022 | $9.4B | Add +0.9% |
| VOO Vanguard S&P 500 ETF | 1.31% | 14,723,638 | $9.2B | Add +9.3% |
| GOOG Alphabet Inc. Class C | 1.06% | 23,672,281 | $7.4B | Reduce -1.9% |
| JPM JPMorgan Chase & Co. | 1.00% | 21,777,670 | $7.0B | Reduce -1.8% |
| LLY Eli Lilly & Co. | 0.91% | 5,949,894 | $6.4B | Reduce -10.6% |
| V Visa Inc. Class A | 0.77% | 15,393,446 | $5.4B | Reduce -9.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.68% | 9,515,984 | $4.8B | Add +13.8% |
| WMT Walmart Inc. | 0.53% | 33,623,537 | $3.7B | Add +18.6% |
| IWM iShares Russell 2000 ETF | 0.52% | 14,743,036 | $3.6B | Reduce -2.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.51% | 5,887,171 | $3.6B | Reduce -38.6% |
| JNJ Johnson & Johnson | 0.48% | 16,340,072 | $3.4B | Add +24.6% |
| MA Mastercard Inc. Class A | 0.48% | 5,890,060 | $3.4B | Reduce -7.0% |
| IWF iShares Russell 1000 Growth | 0.47% | 7,048,298 | $3.3B | Reduce -3.5% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.45% | 6,577,862 | $3.2B | Add +103.8% |
| XOM Exxon Mobil Corp. | 0.45% | 26,205,058 | $3.2B | Add +8.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.44% | 56,666,617 | $3.1B | Add +4.7% |
| ABBV Abbvie Inc. | 0.42% | 12,995,625 | $3.0B | Reduce -3.0% |
| EFA iShares MSCI Eafe ETF | 0.42% | 30,808,523 | $3.0B | Add +3.9% |
| ORCL Oracle Corp. | 0.42% | 14,994,625 | $2.9B | Reduce -0.1% |
| HD Home Depot Inc. | 0.39% | 7,989,409 | $2.7B | Add +11.2% |
| MS Morgan Stanley | 0.38% | 15,211,727 | $2.7B | Add +1.6% |
| CSCO Cisco Systems Inc. | 0.38% | 34,802,291 | $2.7B | Add +7.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.37% | 8,472,273 | $2.6B | Reduce -30.2% |
| MU Micron Technology Inc. | 0.36% | 8,923,576 | $2.5B | Reduce -22.1% |
| LRCX Lam Research Corp. | 0.36% | 14,840,758 | $2.5B | Add +6.7% |
| GE General Electric filed as GE AEROSPACE | 0.35% | 7,946,396 | $2.4B | Add +0.6% |
| IWD iShares Russell 1000 Value E | 0.35% | 11,560,204 | $2.4B | Add +2.0% |
| XBI SS SPDR S&P Biotech ETF | 0.35% | 19,896,418 | $2.4B | Reduce -12.5% |
| NFLX Netflix Inc. | 0.34% | 25,756,102 | $2.4B | Reduce -25.2% |
| RSP Invesco S&P 500 Equal Weight | 0.32% | 11,696,710 | $2.2B | Add +46.7% |
| PG The Procter & Gamble Co. | 0.32% | 15,617,259 | $2.2B | Reduce -6.1% |
| COST Costco Wholesale Corp. | 0.32% | 2,589,394 | $2.2B | Reduce -29.8% |
| PLTR Palantir Technologies Inc. Class A | 0.32% | 12,466,709 | $2.2B | Reduce -8.6% |
| SHOP Shopify Inc. Class A | 0.30% | 13,180,545 | $2.1B | Add +32.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.30% | 23,596,055 | $2.1B | Add +0.7% |
| HEFA Isha Curr Hedged MSCI Eafe | 0.30% | 50,393,002 | $2.1B | Add +2.2% |
| UNH Unitedhealth Group Inc. | 0.29% | 6,189,236 | $2.0B | Add +19.0% |
| MRK Merck & Co. Inc. | 0.29% | 19,348,718 | $2.0B | Add +28.8% |
| CRM Salesforce Inc. | 0.29% | 7,612,400 | $2.0B | Reduce -4.5% |
| INTU Intuit Inc. | 0.29% | 3,033,266 | $2.0B | Add +15.1% |
| KO The Coca-Cola Co. | 0.28% | 28,431,062 | $2.0B | Add +9.5% |
| AMD Advanced Micro Devices | 0.28% | 9,148,196 | $2.0B | Reduce -9.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.28% | 6,594,103 | $2.0B | Add +18.7% |
| IJH iShares Core S&P Midcap ETF | 0.28% | 29,556,481 | $2.0B | Add +4.3% |
| ABT Abbott Laboratories | 0.28% | 15,496,045 | $1.9B | Reduce -3.9% |
| IEMG iShares Core MSCI Emerging | 0.27% | 28,635,564 | $1.9B | Reduce -8.4% |
| WFC Wells Fargo & Co. | 0.27% | 20,410,975 | $1.9B | Add +1.4% |
| RTX RTX Corp. | 0.27% | 10,338,102 | $1.9B | Add +9.8% |
| COF Capital One Financial Corp. | 0.26% | 7,600,872 | $1.8B | Reduce -2.5% |
| CAT Caterpillar Inc. | 0.26% | 3,139,546 | $1.8B | Add +5.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 11,601,398 | $1.8B | Add +21.4% |
| TMO Thermo Fisher Scientific Inc. | 0.25% | 3,066,884 | $1.8B | Add +18.1% |
| PEP Pepsico Inc. | 0.25% | 12,340,465 | $1.8B | Add +3.3% |
| VEA Vanguard Ftse Developed ETF | 0.25% | 28,224,383 | $1.8B | Reduce -1.8% |
| AXP American Express Co. | 0.25% | 4,700,803 | $1.7B | Add +8.8% |
| KLAC KLA Corp. | 0.24% | 1,416,293 | $1.7B | Reduce -27.8% |
| AMAT Applied Materials Inc. | 0.24% | 6,695,745 | $1.7B | Add +5.9% |
| APP AppLovin Corp. Class A | 0.24% | 2,475,389 | $1.7B | Reduce -22.9% |
| CVX Chevron Corp. | 0.23% | 10,710,384 | $1.6B | Add +9.3% |
| GEV GE Vernova Inc. | 0.23% | 2,455,246 | $1.6B | Reduce -5.3% |
| GSUS Goldman Sachs Marketbeta US | 0.23% | 16,755,328 | $1.6B | Reduce -1.8% |
| BSX Boston Scientific Corp. | 0.23% | 16,578,917 | $1.6B | Add +10.5% |
| ETN Eaton Corp. PLC | 0.22% | 4,844,900 | $1.5B | Reduce -3.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.22% | 14,387,316 | $1.5B | Add +1.1% |
| TTE Totalenergies SE | 0.21% | 22,853,347 | $1.5B | Add +704.3% |
| XLI SS Industrial Select Sector | 0.21% | 9,600,052 | $1.5B | Reduce -3.9% |
| AMGN Amgen Inc. | 0.21% | 4,530,258 | $1.5B | Add +1.9% |
| WBD Warner Bros Discovery Inc. | 0.21% | 51,340,535 | $1.5B | Add +231.8% |
| BSV Vanguard Short-Term Bond ETF | 0.21% | 18,536,725 | $1.5B | Add +7.7% |
| MCD McDonald's Corp. | 0.21% | 4,772,210 | $1.5B | Add +15.9% |
| QCOM Qualcomm Inc. | 0.21% | 8,500,164 | $1.5B | Add +0.3% |
| NEE Nextera Energy Inc. | 0.20% | 17,926,950 | $1.4B | Reduce -0.9% |
| AGG iShares Core U.S. Aggregate | 0.20% | 14,394,617 | $1.4B | Reduce -2.8% |
| ACN Accenture PLC Class A | 0.20% | 5,246,859 | $1.4B | Add +4.7% |
| LIN Linde PLC | 0.20% | 3,224,286 | $1.4B | Add +4.7% |
| ISRG Intuitive Surgical Inc. | 0.19% | 2,417,796 | $1.4B | Reduce -22.9% |
| PM Philip Morris International | 0.19% | 8,302,006 | $1.3B | Reduce -5.2% |
| AZN Astrazeneca PLC-Spons ADR | 0.19% | 14,411,321 | $1.3B | Add +5.4% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.18% | 22,516,338 | $1.3B | Add +1.3% |
| UBER Uber Technologies Inc. | 0.18% | 15,415,477 | $1.3B | Add +15.1% |
| SPGI S&P Global Inc. | 0.18% | 2,396,176 | $1.3B | Add +1.4% |
| CMCSA Comcast Corp. Class A | 0.17% | 41,087,238 | $1.2B | Add +42.1% |
| VZ Verizon Communications Inc. | 0.17% | 29,769,352 | $1.2B | Reduce -1.3% |
| NOW ServiceNow Inc. | 0.17% | 7,855,851 | $1.2B | Add +14.6% |
| XLK SS Technology Select Sector | 0.17% | 8,294,321 | $1.2B | Reduce -10.6% |
| TXN Texas Instruments Inc. | 0.17% | 6,867,369 | $1.2B | Reduce -35.7% |
| BLK BlackRock Inc. | 0.17% | 1,092,564 | $1.2B | Reduce -14.5% |
| APH Amphenol Corp. Class A | 0.16% | 8,541,196 | $1.2B | Reduce -29.9% |
| T AT&T Inc. | 0.16% | 45,781,842 | $1.1B | Reduce -8.2% |
| BKNG Booking Holdings Inc. | 0.16% | 209,986 | $1.1B | Reduce -6.7% |
| BABA Alibaba Group Holding-SP ADR | 0.16% | 7,665,627 | $1.1B | Reduce -34.9% |
Options reported separately and not counted above: NVDA puts ($6.3B), QQQ puts ($5.3B), HYG puts ($4.8B), NVDA calls ($4.4B), AAPL calls ($4.3B), SPY puts ($4.3B), TSLA puts ($3.9B), MSFT calls ($2.2B), TSLA calls ($2.0B), AMZN calls ($2.0B), HYG calls ($2.0B), QQQ calls ($2.0B), and 1036 more.
Other holdings (169): bonds, preferreds, convertibles and warrants · $385.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 27,035,000 | $33.2M | Add +12.3% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 9,046,000 | $14.0M | Reduce -15.3% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 11,938,000 | $13.4M | Add +44.7% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 9,627,000 | $12.5M | Add +2927.4% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 10,731,000 | $12.0M | New |
| CORZZ Core Scientific Inc. - 29 | *W EXP 01/23/202 | 821,147 | $11.9M | Add +6.7% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 11,492,000 | $11.9M | Add +728.5% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 9,640,000 | $11.5M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 8,730,000 | $9.5M | Add +1095.9% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 8,678,000 | $9.3M | Add +6.1% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 7,910,000 | $9.2M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 8,697,000 | $8.8M | Add +304.9% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 5,935,000 | $8.4M | Add +265.9% |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 969,478 | $8.2M | Add +6.8% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 5,403,000 | $8.0M | Add +438.7% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 7,576,000 | $7.8M | Add +33.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 7,544,000 | $7.5M | Add +85.4% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 4,881,000 | $6.5M | New |
| ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) | NOTE 4.250%11/1 · principal | 4,000,000 | $6.1M | New |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 5,737,000 | $5.7M | Reduce -71.8% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 1,695,763 | $5.7M | Reduce -54.3% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 6,461,000 | $5.6M | New |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 3,910,000 | $5.6M | Reduce -26.6% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 5,478,000 | $5.5M | Add +2.1% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 5,515,000 | $5.4M | Add +10.0% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 5,000,000 | $5.0M | Reduce -34.4% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 4,875,000 | $4.6M | Add +3593.2% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 3,045,000 | $4.4M | New |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 2,320,000 | $4.2M | New |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 2,750,000 | $4.2M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 4,000,000 | $4.2M | New |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 4,172,000 | $4.1M | Reduce -6.3% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 3,975,000 | $4.1M | No change |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 5,000,000 | $4.1M | New |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 3,280 | $4.0M | No change |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 4,900,000 | $3.8M | New |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 298,455 | $3.7M | Add +0.0% |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 3,034,000 | $3.3M | New |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 3,205,000 | $3.2M | Add +829.0% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 2,002,000 | $3.2M | Add +147.2% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 4,500,000 | $3.2M | New |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 3,000,000 | $2.9M | No change |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 1,085,000 | $2.7M | New |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | 2,550,000 | $2.7M | Add +363.6% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 923,000 | $2.6M | Add +1218.6% |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 43,576 | $2.5M | New |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 2,525,000 | $2.5M | Add +24.7% |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 2,032,000 | $2.4M | Reduce -55.2% |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | 2,000,000 | $2.3M | New |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 2,500,000 | $2.3M | No change |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | 2,000,000 | $2.2M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 580,000 | $2.2M | No change |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 2,000,000 | $2.1M | No change |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 1,419,000 | $2.1M | New |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 1,450,000 | $2.0M | New |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 1,500,000 | $1.9M | New |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 1,950,000 | $1.9M | No change |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 1,600,000 | $1.8M | Reduce -66.0% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 1,842,000 | $1.8M | Reduce -79.2% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 92,515 | $1.8M | Reduce -1.1% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 1,479,000 | $1.6M | Reduce -46.5% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 21,019 | $1.5M | Reduce -59.8% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 19,109 | $1.4M | Reduce -61.1% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 1,548,000 | $1.4M | No change |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 1,414,000 | $1.4M | Add +30.0% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 1,088 | $1.4M | No change |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 1,185,000 | $1.3M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 900,000 | $1.2M | New |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 23,400 | $1.1M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 950,000 | $1.1M | Reduce -34.5% |
| CENTRUS ENERGY CORP (LEU 2.25 11/01/30) | NOTE 2.250%11/0 · principal | 391,000 | $1.0M | New |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 1,000,000 | $1.0M | New |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 410,000 | $1.0M | No change |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 379,383 | $1.0M | No change |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 14,962 | $998K | Reduce -76.4% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 1,100,000 | $981K | New |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 942,000 | $951K | No change |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 958,000 | $917K | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 956,000 | $908K | New |
| CELCUITY INC (CELC 2.75 08/01/31) | NOTE 2.750% 8/0 · principal | 409,000 | $886K | New |
| RAMACO RESOURCES INC (METC 0 11/01/31) | NOTE 11/0 · principal | 1,001,000 | $846K | New |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 15,920 | $802K | Reduce -61.8% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 627,000 | $800K | Reduce -7.4% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 679,000 | $695K | Reduce -86.5% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 126,000 | $669K | New |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 750,000 | $660K | No change |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 560,000 | $590K | New |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 475,000 | $558K | New |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 527,000 | $526K | No change |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 9,485 | $523K | No change |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 300,000 | $503K | New |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 503,000 | $485K | New |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 106,462 | $481K | Add +0.6% |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | 61,469 | $473K | New |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 424,000 | $414K | No change |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | 400,000 | $401K | No change |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 423,000 | $398K | No change |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 234,000 | $384K | No change |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 131,000 | $300K | Reduce -83.8% |
| NE.WS Noble Corp. PLC-28 | *W EXP 02/04/202 | 16,891 | $296K | No change |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 256,000 | $247K | No change |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 200,000 | $221K | New |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | 224,000 | $180K | New |
| CRMLW Critical Metals Corp.-28 | *W EXP 02/27/202 | 53,823 | $147K | No change |
| NOBLE CORP PLC-28 | *W EXP 02/04/202 | 16,891 | $141K | No change |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | 150,000 | $125K | New |
| SHMDW Schmid Group NV -28 | *W EXP 04/30/202 | 75,239 | $110K | No change |
| FBYDW Falcon's Beyond Global-27 | *W EXP 10/06/202 | 50,000 | $101K | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 94,000 | $93K | No change |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 29,671 | $89K | Reduce -81.5% |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 100,000 | $89K | Reduce -98.0% |
| AENTW Adara Acquisition Class A -CW26 | *W EXP 02/11/202 | 104,275 | $89K | Add +0.0% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 89,000 | $88K | No change |
| DFDVW Defi Development Corp. | *W EXP 01/21/202 | 55,578 | $86K | New |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 66,000 | $68K | No change |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 156,400 | $64K | No change |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | 239,874 | $60K | No change |
| ABVWF Above Food Ingredients- 29 | *W EXP 06/28/202 | 168,645 | $59K | No change |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 47,000 | $58K | No change |
| MDAIW Spectral AI -CW27 | *W EXP 09/11/202 | 123,629 | $56K | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 33,000 | $55K | Reduce -99.6% |
| THE REALREAL INC (REAL 1 03/01/28) | NOTE 1.000% 3/0 · principal | 54,000 | $51K | Add +100.0% |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | 50,000 | $50K | No change |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | 39,000 | $38K | No change |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 32,000 | $35K | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 30,000 | $29K | New |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 27,000 | $26K | No change |
| DRTSW Alpha Tau Medical Ltd. -27 | *W EXP 99/99/999 | 69,409 | $24K | No change |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 18,000 | $21K | No change |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 16,000 | $15K | No change |
| CLSKW Cleanspark Inc.-29 | *W EXP 12/29/202 | 39,595 | $15K | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 15,355 | $14K | Reduce -96.7% |
| BNAIW Brand Engagement Netwo -CW27 | *W EXP 03/14/202 | 273,919 | $12K | No change |
| SCAGW Scage Future -30 | *W EXP 05/15/203 | 225,000 | $11K | No change |
| BDMDW Baird Medical Investment -28 | *W EXP 10/01/202 | 220,004 | $11K | No change |
| OPTXW Omnilit Acquisition Class A -23 | *W EXP 99/99/999 | 45,531 | $11K | No change |
| DAVEW Dave Inc. -CW27 | *W EXP 01/05/202 | 11,707 | $11K | No change |
| ZEOWW Esgen Acquisition A -CW23 | *W EXP 03/13/202 | 256,875 | $9K | No change |
| HUBCW Hub Cyber Security Ltd.-28 | *W EXP 02/27/202 | 461,458 | $8K | No change |
| ARQQW Arqit Quantum Inc. -CW26 | *W EXP 09/03/202 | 47,320 | $7K | No change |
| EONR.WS HNR Acquisition Corp. -CW23 | *W EXP 11/15/202 | 148,700 | $7K | No change |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 12,712 | $7K | New |
| PGYWW Pagaya Technologies Ltd. -27 | *W EXP 99/99/999 | 19,009 | $6K | Add +0.0% |
| MSAIW Sportsmap Tech Acq -CW27 | *W EXP 12/19/202 | 201,766 | $6K | No change |
| AERTW Aeries Technology Inc. -CW23 | *W EXP 11/06/202 | 218,988 | $6K | No change |
| BSLKW Golden Arrow Merger A -CW26 | *W EXP 08/13/202 | 327,434 | $5K | Add +0.5% |
| RNWWW Renew Energy Global -CW26 | *W EXP 08/21/202 | 686,199 | $5K | No change |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | 125,039 | $5K | No change |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 12,134 | $5K | New |
| BENFW Beneficient Co. Group -28 | *W EXP 06/07/202 | 379,725 | $4K | No change |
| PBMWW Psyence Biomedical Ltd. | *W EXP 01/22/202 | 200,117 | $4K | No change |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 | 105,800 | $4K | No change |
| SLXNW Biomotion Sciences-CW29 | *W EXP 08/15/202 | 121,237 | $3K | Add +3.9% |
| VSEEW Digital Health Acquist-CW23 | *W EXP 99/99/999 | 40,050 | $3K | No change |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | 179,100 | $3K | No change |
| VEEAW Plum Acquisition I A -CW28 | *W EXP 09/13/202 | 32,268 | $3K | No change |
| ICUCW LMF Acquisition Opp -A -CW26 | *W EXP 10/28/202 | 211,381 | $2K | No change |
| CRPWF Carbon Revolution PLC | *W EXP 99/99/999 | 309,716 | $2K | No change |
| BAERW Wildfire New Pubco Inc.-27 | *W EXP 01/24/202 | 11,008 | $2K | No change |
| ANNAW Aleanna Inc. Class A - 29 | *W EXP 12/13/202 | 13,005 | $2K | New |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 | 19,730 | $2K | No change |
| ZOOZW Zooz Strategy Ltd.-29 | *W EXP 04/02/202 | 32,247 | $1K | No change |
| KITTW Cleantech Acquisition Corpcw | *W EXP 03/15/202 | 20,000 | $902 | No change |
| SDAWW Suncar Technology Group -28 | *W EXP 05/17/202 | 21,194 | $763 | No change |
| MRNOW Murano Global BV-28 | *W EXP 03/19/202 | 22,905 | $602 | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 27,331 | $317 | No change |
| ALURW Allurion Technologies-28 | *W EXP 08/01/203 | 15,312 | $234 | No change |
| CPTWF Captivision Inc.-28 | *W EXP 11/15/202 | 14,935 | $193 | No change |
| APLMW Apollomics Inc.-27 | *W EXP 04/01/202 | 13,799 | $153 | No change |
Total filed on the 13F, all lines: $703.0B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -5.8% | 3.54% | −0.55 |
| META Meta Platforms Inc. Class A | Reduce -13.4% | 1.45% | −0.45 |
| TRP TC Energy Corp. | Reduce -79.7% | 0.10% | −0.41 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -38.6% | 0.51% | −0.32 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -8.6% | 3.21% | −0.28 |
| NFLX Netflix Inc. | Reduce -25.2% | 0.34% | −0.25 |
| ORCL Oracle Corp. | Reduce -0.1% | 0.42% | −0.19 |
| COST Costco Wholesale Corp. | Reduce -29.8% | 0.32% | −0.18 |
| IBIT iShares Bitcoin Trust ETF | Reduce -39.1% | 0.15% | −0.17 |
| TSLA Tesla Inc. | Reduce -8.3% | 1.76% | −0.17 |
| BABA Alibaba Group Holding-SP ADR | Reduce -34.9% | 0.16% | −0.14 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -30.2% | 0.37% | −0.12 |
| TXN Texas Instruments Inc. | Reduce -35.7% | 0.17% | −0.11 |
| AVGO Broadcom Inc. | Reduce -9.3% | 1.64% | −0.11 |
| NVDA Nvidia Corp. | Reduce -0.7% | 4.43% | −0.11 |
| ETHA iShares Ethereum Trust ETF | Reduce -35.3% | 0.09% | −0.11 |
| APP AppLovin Corp. Class A | Reduce -22.9% | 0.24% | −0.10 |
| V Visa Inc. Class A | Reduce -9.6% | 0.77% | −0.07 |
| CNQ Canadian Natural Resources | Reduce -80.2% | 0.02% | −0.07 |
| QSR Restaurant Brands Intern | Reduce -75.3% | 0.02% | −0.07 |
| MSI Motorola Solutions Inc. | Reduce -30.8% | 0.09% | −0.07 |
| CP Canadian Pacific Kansas City | Reduce -49.1% | 0.06% | −0.07 |
| KLAC KLA Corp. | Reduce -27.8% | 0.24% | −0.06 |
| EQIX Equinix Inc. | Reduce -39.3% | 0.09% | −0.06 |
| NKE Nike Inc. Class B | Reduce -34.3% | 0.08% | −0.06 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -78.9% | 0.01% | −0.06 |
| APH Amphenol Corp. Class A | Reduce -29.9% | 0.16% | −0.05 |
| AMT American Tower Corp. | Reduce -27.6% | 0.10% | −0.05 |
| ETN Eaton Corp. PLC | Reduce -3.4% | 0.22% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -6.1% | 0.32% | −0.05 |
| PDD PDD Holdings Inc. | Reduce -12.2% | 0.14% | −0.05 |
| ARKK ARK Innovation ETF | Reduce -70.8% | 0.02% | −0.05 |
| BLK BlackRock Inc. | Reduce -14.5% | 0.17% | −0.05 |
| RY Royal Bank of Canada | Reduce -44.9% | 0.08% | −0.05 |
| FERG Ferguson Enterprises Inc. | Reduce -42.1% | 0.06% | −0.05 |
| MRSH Marsh & McLennan Cos | Reduce -23.1% | 0.11% | −0.05 |
| ANET Arista Networks Inc. | Reduce -14.7% | 0.14% | −0.04 |
| PLTR Palantir Technologies Inc. Class A | Reduce -8.6% | 0.32% | −0.04 |
| DD Dupont DE Nemours Inc. | Reduce -33.9% | 0.02% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -7.0% | 0.48% | −0.04 |
| T AT&T Inc. | Reduce -8.2% | 0.16% | −0.04 |
| COIN Coinbase Global Inc. Class A | Reduce -17.9% | 0.05% | −0.04 |
| TD Toronto-Dominion Bank | Reduce -50.5% | 0.06% | −0.04 |
| RBLX Roblox Corp. Class A | Reduce -8.0% | 0.05% | −0.04 |
| DASH DoorDash Inc. Class A | Reduce -8.3% | 0.12% | −0.04 |
| WELL Welltower Inc. | Reduce -26.3% | 0.12% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -14.3% | 0.12% | −0.04 |
| SPOT Spotify Technology SA | Reduce -2.6% | 0.15% | −0.04 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -44.1% | 0.04% | −0.04 |
| ABT Abbott Laboratories | Reduce -3.9% | 0.28% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +1.6% | 2.33% | +0.52 |
| AAPL Apple Inc. | Add +2.7% | 3.84% | +0.28 |
| DIA SS SPDR Dow Jones Indus Avg | Add +103.8% | 0.45% | +0.23 |
| TTE Totalenergies SE | Add +704.3% | 0.21% | +0.19 |
| WBD Warner Bros Discovery Inc. | Add +231.8% | 0.21% | +0.17 |
| JNJ Johnson & Johnson | Add +24.6% | 0.48% | +0.13 |
| VOO Vanguard S&P 500 ETF | Add +9.3% | 1.31% | +0.12 |
| WMT Walmart Inc. | Add +18.6% | 0.53% | +0.11 |
| MRK Merck & Co. Inc. | Add +28.8% | 0.29% | +0.11 |
| FOXA Fox Corp. Class A | Add +312.6% | 0.13% | +0.10 |
| RSP Invesco S&P 500 Equal Weight | Add +46.7% | 0.32% | +0.10 |
| TROW T Rowe Price Group Inc. | Add +332.0% | 0.13% | +0.10 |
| LRCX Lam Research Corp. | Add +6.7% | 0.36% | +0.09 |
| AMZN Amazon.com Inc. | Add +1.1% | 2.11% | +0.09 |
| SHOP Shopify Inc. Class A | Add +32.0% | 0.30% | +0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +13.8% | 0.68% | +0.07 |
| TMO Thermo Fisher Scientific Inc. | Add +18.1% | 0.25% | +0.07 |
| WDC Western Digital Corp. | Add +82.0% | 0.11% | +0.07 |
| FOX Fox Corp. Class B | Add +455.9% | 0.08% | +0.06 |
| CSCO Cisco Systems Inc. | Add +7.3% | 0.38% | +0.06 |
| EXPE Expedia Group Inc. | Add +141.8% | 0.09% | +0.06 |
| AMAT Applied Materials Inc. | Add +5.9% | 0.24% | +0.06 |
| LUV Southwest Airlines Co. | Add +86.9% | 0.10% | +0.06 |
| TJX TJX Companies Inc. | Add +21.4% | 0.25% | +0.05 |
| XOM Exxon Mobil Corp. | Add +8.0% | 0.45% | +0.05 |
| DAY Dayforce Inc. | Add +543.5% | 0.06% | +0.05 |
| IBM Intl Business Machines Corp. | Add +18.7% | 0.28% | +0.05 |
| COHR Coherent Corp. | Add +269.8% | 0.06% | +0.05 |
| CAT Caterpillar Inc. | Add +5.3% | 0.26% | +0.05 |
| SOXX iShares Semiconductor ETF | Add +48.0% | 0.12% | +0.05 |
| TGT Target Corp. | Add +119.5% | 0.08% | +0.05 |
| CMCSA Comcast Corp. Class A | Add +42.1% | 0.17% | +0.04 |
| REGN Regeneron Pharmaceuticals | Add +15.2% | 0.12% | +0.04 |
| RTX RTX Corp. | Add +9.8% | 0.27% | +0.04 |
| MS Morgan Stanley | Add +1.6% | 0.38% | +0.04 |
| AXP American Express Co. | Add +8.8% | 0.25% | +0.04 |
| BAC Bank of America Corp. | Add +4.7% | 0.44% | +0.04 |
| CRWV Coreweave Inc. Class A | Add +237.9% | 0.09% | +0.04 |
| GILD Gilead Sciences Inc. | Add +22.9% | 0.15% | +0.04 |
| RUN Sunrun Inc. | Add +470.2% | 0.05% | +0.04 |
| AZN Astrazeneca PLC-Spons ADR | Add +5.4% | 0.19% | +0.04 |
| UPS United Parcel Service Class B | Add +45.4% | 0.09% | +0.04 |
| KO The Coca-Cola Co. | Add +9.5% | 0.28% | +0.03 |
| SYF Synchrony Financial | Add +28.9% | 0.10% | +0.03 |
| TRGP Targa Resources Corp. | Add +49.0% | 0.09% | +0.03 |
| OMC Omnicom Group | Add +89.5% | 0.07% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +19.0% | 0.29% | +0.03 |
| FTNT Fortinet Inc. | Add +61.0% | 0.09% | +0.03 |
| COR Cencora Inc. | Add +32.8% | 0.10% | +0.03 |
| AMGN Amgen Inc. | Add +1.9% | 0.21% | +0.03 |
Options Activity Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | put | Reduce -17.8% | 34,029,400 | $6.3B |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -25.2% | 8,699,800 | $5.3B |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -16.8% | 59,080,800 | $4.8B |
| NVDA Nvidia Corp. | call | Add +18.7% | 23,467,700 | $4.4B |
| AAPL Apple Inc. | call | Add +77.6% | 15,883,200 | $4.3B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -59.5% | 6,250,000 | $4.3B |
| TSLA Tesla Inc. | put | Reduce -16.0% | 8,772,200 | $3.9B |
| MSFT Microsoft Corp. | call | Add +29.6% | 4,605,900 | $2.2B |
| TSLA Tesla Inc. | call | Add +300.3% | 4,442,800 | $2.0B |
| AMZN Amazon.com Inc. | call | Add +77.5% | 8,578,000 | $2.0B |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | Add +5.0% | 24,489,300 | $2.0B |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -67.7% | 3,178,200 | $2.0B |
| AAPL Apple Inc. | put | Add +84.3% | 6,638,300 | $1.8B |
| TLT iShares 20+ Year Treasury BD | put | Add +15.5% | 20,313,100 | $1.8B |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Reduce -67.4% | 2,436,500 | $1.7B |
| TLT iShares 20+ Year Treasury BD | call | Add +84.9% | 17,614,400 | $1.5B |
| AMD Advanced Micro Devices | call | Add +16.9% | 6,381,800 | $1.4B |
| MSFT Microsoft Corp. | put | Reduce -6.4% | 2,794,500 | $1.4B |
| TSM Taiwan Semiconductor-SP ADR | put | Add +626.0% | 4,367,500 | $1.3B |
| IEF iShares 7-10 Year Treasury B | put | Add +2669.9% | 11,824,900 | $1.1B |
| IWM iShares Russell 2000 ETF | put | Reduce -74.2% | 4,290,400 | $1.1B |
| GOOGL Alphabet Inc. Class A | call | Add +38.7% | 3,265,700 | $1.0B |
| AMD Advanced Micro Devices | put | Reduce -9.1% | 4,768,500 | $1.0B |
| EFA iShares MSCI Eafe ETF | call | Add +42.7% | 10,519,300 | $1.0B |
| GOOG Alphabet Inc. Class C | call | Add +641.9% | 3,110,200 | $976.0M |
| AMZN Amazon.com Inc. | put | Reduce -34.5% | 3,696,600 | $853.2M |
| IBIT iShares Bitcoin Trust ETF | put | Reduce -35.7% | 16,657,200 | $827.0M |
| AVGO Broadcom Inc. | put | Reduce -3.8% | 2,338,100 | $809.2M |
| BRK.B Berkshire Hathaway Inc. Class B | call | Add +52.2% | 1,490,000 | $748.9M |
| TGT Target Corp. | call | Add +1975.2% | 6,790,000 | $663.7M |
| SMH Vaneck Semiconductor ETF | call | Add +620.2% | 1,825,000 | $657.2M |
| GLD SPDR Gold Shares | put | Reduce -38.0% | 1,621,300 | $642.5M |
| LLY Eli Lilly & Co. | call | Reduce -29.2% | 587,300 | $631.2M |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -4.4% | 4,243,500 | $622.0M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | Reduce -25.9% | 5,591,700 | $616.1M |
| LLY Eli Lilly & Co. | put | Reduce -1.9% | 571,800 | $614.5M |
| NFLX Netflix Inc. | call | Add +67.8% | 6,262,000 | $587.1M |
| TTE Totalenergies SE | put | New | 8,462,100 | $553.6M |
| DIA SS SPDR Dow Jones Indus Avg | put | Add +83.8% | 1,109,000 | $533.0M |
| META Meta Platforms Inc. Class A | put | Reduce -0.4% | 767,900 | $506.9M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Add +140.1% | 4,587,000 | $505.4M |
| EWZ iShares MSCI Brazil ETF | call | Add +24.3% | 15,882,000 | $504.6M |
| GOOGL Alphabet Inc. Class A | put | Reduce -27.2% | 1,572,400 | $492.2M |
| FXI iShares China Large-Cap ETF | put | Reduce -50.4% | 12,823,100 | $491.0M |
| EEM iShares MSCI Emerging Market | put | Reduce -58.1% | 8,784,800 | $480.6M |
| FXI iShares China Large-Cap ETF | call | Reduce -26.3% | 12,463,200 | $477.2M |
| BAC Bank of America Corp. | put | Reduce -6.1% | 8,274,400 | $455.1M |
| EFA iShares MSCI Eafe ETF | put | Reduce -32.2% | 4,622,600 | $443.9M |
| CSCO Cisco Systems Inc. | call | Reduce -58.5% | 5,478,700 | $422.0M |
| BABA Alibaba Group Holding-SP ADR | put | Reduce -43.3% | 2,811,800 | $412.2M |
Showing the first 50 of 950.
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
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Add +12.3% | 27,035,000 | $33.2M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -15.3% | 9,046,000 | $14.0M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +44.7% | 11,938,000 | $13.4M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +2927.4% | 9,627,000 | $12.5M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | New | 10,731,000 | $12.0M |
| CORZZ Core Scientific Inc. - 29 | *W EXP 01/23/202 | Add +6.7% | 821,147 | $11.9M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +728.5% | 11,492,000 | $11.9M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | New | 9,640,000 | $11.5M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Sold out | 10,206,000 | $10.2Mbefore exit |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Add +1095.9% | 8,730,000 | $9.5M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Add +6.1% | 8,678,000 | $9.3M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +304.9% | 8,697,000 | $8.8M |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | Add +265.9% | 5,935,000 | $8.4M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | Add +6.8% | 969,478 | $8.2M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Add +438.7% | 5,403,000 | $8.0M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +33.5% | 7,576,000 | $7.8M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Sold out | 2,373,000 | $7.6Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +85.4% | 7,544,000 | $7.5M |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | New | 4,881,000 | $6.5M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Sold out | 5,000,000 | $6.4Mbefore exit |
| ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) | NOTE 4.250%11/1 · principal | New | 4,000,000 | $6.1M |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -71.8% | 5,737,000 | $5.7M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Reduce -54.3% | 1,695,763 | $5.7M |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | New | 6,461,000 | $5.6M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Sold out | 5,227,000 | $5.6Mbefore exit |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | Reduce -26.6% | 3,910,000 | $5.6M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Add +2.1% | 5,478,000 | $5.5M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | Add +10.0% | 5,515,000 | $5.4M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Sold out | 5,010,000 | $5.0Mbefore exit |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -34.4% | 5,000,000 | $5.0M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +3593.2% | 4,875,000 | $4.6M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | New | 3,045,000 | $4.4M |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | New | 2,320,000 | $4.2M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | New | 2,750,000 | $4.2M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | New | 4,000,000 | $4.2M |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Reduce -6.3% | 4,172,000 | $4.1M |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | New | 5,000,000 | $4.1M |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | New | 4,900,000 | $3.8M |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Add +0.0% | 298,455 | $3.7M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | Sold out | 3,399,000 | $3.5Mbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 84,936 | $3.3Mbefore exit |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 3,034,000 | $3.3M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Add +829.0% | 3,205,000 | $3.2M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Add +147.2% | 2,002,000 | $3.2M |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | New | 4,500,000 | $3.2M |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | New | 1,085,000 | $2.7M |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | Add +363.6% | 2,550,000 | $2.7M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +1218.6% | 923,000 | $2.6M |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | New | 43,576 | $2.5M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | Add +24.7% | 2,525,000 | $2.5M |
Showing the first 50 of 110.
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 | 5,453 | $952.9B | NVDA, AAPL, MSFT, SPY, GOOGL |
| Q1 2026 | 5,364 | $760.6B | NVDA, AAPL, SPY, MSFT, GOOGL |
| Q4 2025Amended | 5,195 | $702.6B | NVDA, AAPL, MSFT, SPY, GOOGL |
| Q3 2025 | 5,117 | $691.2B | NVDA, MSFT, AAPL, SPY, AMZN |
| Q2 2025 | 4,977 | $618.3B | NVDA, MSFT, SPY, AAPL, META |
| Q1 2025Amended | 4,927 | $527.2B | AAPL, SPY, MSFT, NVDA, AMZN |
| Q4 2024 | 4,869 | $521.4B | AAPL, NVDA, SPY, MSFT, AMZN |
| Q3 2024 | 4,663 | $523.1B | AAPL, SPY, MSFT, NVDA, AMZN |
| Q2 2024 | 4,545 | $511.3B | MSFT, AAPL, SPY, NVDA, AMZN |
| Q1 2024 | 4,548 | $474.7B | SPY, MSFT, AAPL, NVDA, IVV |