Groupama Asset Managment

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 27, 2026), Groupama Asset Managment reported 396 stock positions worth $6.8 billion. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Nvidia (NVDA, 6.6%) and Apple (AAPL, 5.1%). Compared with Q3 2025, it opened 6 new positions, sold out of 17, added to 86 and reduced 291. The biggest buy was Alphabet Class A (GOOGL, shares +9%) and the biggest sale an exit from RTX (RTX).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001055969
Portfolio Value
$6.8B (Q4 2025)
SEC Filing
0001752724-26-000015 ↗ filed Feb 27, 2026

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $5.5B Q1 2024 Q2 2024: $7.3B Q2 2024 Q3 2024: $3.8B Q3 2024 Q4 2024: $4.8B Q4 2024 Q1 2025: $4.9B Q1 2025 Q2 2025: $5.9B Q2 2025 Q3 2025: $6.7B Q3 2025 Q4 2025: $6.8B $6.8B Q4 2025 Q1 2026: $6.8B Q1 2026 Q2 2026: $7.9B Q2 2026

Holdings 396 stocks · $6.8B
MSFT Microsoft Corp. 7.54% 1,057,164 $510.5M Reduce -1.6%
NVDA Nvidia Corp. 6.57% 2,384,610 $444.6M Reduce -1.4%
AAPL Apple Inc. 5.07% 1,261,671 $342.9M Reduce -1.4%
GOOGL Alphabet Inc. Class A 4.48% 968,888 $303.3M Add +8.7%
AVGO Broadcom Inc. 4.43% 866,755 $299.7M Reduce -28.5%
JPM JPMorgan Chase & Co. 3.62% 760,026 $244.8M Reduce -2.2%
MU Micron Technology Inc. 3.26% 773,172 $220.7M Reduce -41.9%
AMZN Amazon.com Inc. 3.21% 941,087 $216.9M Reduce -9.0%
AEM Agnico Eagle Mines Ltd. 2.85% 1,141,959 $192.8M Reduce -25.0%
MSI Motorola Solutions Inc. 2.46% 433,839 $166.3M Add +1.2%
TMO Thermo Fisher Scientific Inc. 2.36% 275,578 $159.7M Add +12.5%
PH Parker Hannifin Corp. 2.16% 166,219 $146.1M Add +0.1%
WMT Walmart Inc. 1.98% 1,199,705 $133.7M Add +9.9%
META Meta Platforms Inc. Class A 1.96% 201,221 $132.6M Reduce -5.1%
BSX Boston Scientific Corp. 1.93% 1,366,905 $130.3M Add +2.6%
LLY Eli Lilly & Co. 1.54% 97,556 $104.5M Add +9.3%
TECK Teck Resources Ltd.-CLS B 1.50% 2,109,053 $101.5M Add +3.8%
MRK Merck & Co. Inc. 1.40% 900,786 $94.8M Add +8.2%
XPO Xpo Inc. 1.30% 648,476 $88.1M Reduce -1.1%
BKR Baker Hughes Co. 1.29% 1,921,008 $87.5M Add +32.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.20% 526,934 $80.9M Reduce -4.6%
PG The Procter & Gamble Co. 1.14% 539,314 $77.3M Add +59.1%
GEV GE Vernova Inc. 1.13% 117,308 $76.6M Reduce -1.4%
VRTX Vertex Pharmaceuticals Inc. 1.09% 163,144 $74.0M Add +276.1%
URI United Rentals Inc. 1.01% 84,442 $68.3M Add +8.8%
TMUS T-Mobile US Inc. 0.99% 331,032 $67.2M Add +1.4%
CME Cme Group Inc. 0.93% 231,345 $63.2M Reduce -2.3%
ETR Entergy Corp. 0.90% 662,319 $61.2M Add +17.0%
IONS Ionis Pharmaceuticals Inc. 0.90% 766,889 $60.7M Add +36.5%
NEE Nextera Energy Inc. 0.89% 751,748 $60.4M Add +14.5%
CYBR Cyberark Software Ltd./Israel 0.86% 130,679 $58.3M Reduce -6.6%
MET Metlife Inc. 0.85% 730,866 $57.7M Add +1.2%
C Citigroup Inc. 0.83% 479,516 $56.0M Add +1.6%
REGN Regeneron Pharmaceuticals 0.81% 71,182 $54.9M Add +13.5%
HAL Halliburton Co. 0.81% 1,941,931 $54.9M Add +19.9%
SRE Sempra 0.79% 603,131 $53.3M Add +20.9%
TTE Totalenergies SE 0.78% 946,117 $52.6M New
PNC PNC Financial Services Group 0.76% 247,656 $51.7M Reduce -6.2%
MS Morgan Stanley 0.76% 290,510 $51.6M Reduce -6.0%
TSLA Tesla Inc. 0.72% 108,502 $48.8M Reduce -7.5%
PANW Palo Alto Networks Inc. 0.65% 240,879 $44.2M Reduce -5.2%
FNV Franco-Nevada Corp. 0.57% 184,641 $38.3M Reduce -0.5%
HON Honeywell International Inc. 0.56% 193,320 $37.7M Reduce -4.4%
ABBV Abbvie Inc. 0.54% 159,794 $36.5M Reduce -0.5%
RACE Ferrari NV 0.49% 103,838 $33.1M Add +14.6%
WELL Welltower Inc. 0.49% 177,503 $32.9M Reduce -3.1%
KO The Coca-Cola Co. 0.48% 461,214 $32.2M Add +27.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.45% 268,071 $30.5M Reduce -17.2%
GOOG Alphabet Inc. Class C 0.45% 98,537 $30.3M Add +8.6%
BRK.B Berkshire Hathaway Inc. Class B 0.42% 56,729 $28.4M Reduce -1.6%
ISRG Intuitive Surgical Inc. 0.40% 47,779 $27.0M Add +11.7%
TSM Taiwan Semiconductor-SP ADR 0.39% 86,569 $26.3M Add +1.5%
HUBS HubSpot Inc. 0.38% 64,729 $26.0M Add +3.3%
EQIX Equinix Inc. 0.38% 33,885 $26.0M Add +4.9%
VLO Valero Energy Corp. 0.38% 157,084 $25.6M Reduce -9.5%
ORCL Oracle Corp. 0.38% 130,335 $25.4M Add +186.5%
V Visa Inc. Class A 0.35% 67,910 $23.8M Reduce -3.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.35% 425,294 $23.4M Reduce -3.2%
AMT American Tower Corp. 0.32% 124,118 $21.8M Add +5.5%
WTS Watts Water Technologies-A 0.31% 76,674 $21.2M Add +14.9%
NTRA Natera Inc. 0.31% 92,256 $21.1M Add +19.5%
SLB SLB Ltd. filed as SLB LIMITED 0.30% 528,807 $20.3M Reduce -6.4%
CDNS Cadence Design SYS Inc. 0.30% 64,605 $20.2M Add +9.6%
LRCX Lam Research Corp. 0.29% 115,073 $19.7M Reduce -3.0%
UNH Unitedhealth Group Inc. 0.29% 59,388 $19.6M Reduce -8.5%
BNTX Biontech SE-ADR 0.27% 189,069 $18.0M Reduce -2.2%
MDGL Madrigal Pharmaceuticals Inc. 0.26% 30,620 $17.8M Add +11.6%
AGI Alamos Gold Inc. Class A 0.26% 454,387 $17.5M Add +43.4%
SW Smurfit Westrock PLC 0.25% 583,885 $16.8M Reduce -9.3%
CB Chubb Ltd. 0.22% 48,693 $15.2M Reduce -4.9%
COST Costco Wholesale Corp. 0.22% 17,567 $15.1M Add +17.3%
ALNY Alnylam Pharmaceuticals Inc. 0.21% 35,878 $14.3M Add +11.8%
HCA HCA Healthcare Inc. 0.21% 30,295 $14.1M Reduce -0.1%
WFC Wells Fargo & Co. 0.20% 146,979 $13.5M Add +15.5%
DHR Danaher Corp. 0.18% 54,461 $12.4M Add +22.6%
CRM Salesforce Inc. 0.15% 39,399 $10.4M Add +2.1%
SCI Service Corp. International 0.15% 129,345 $10.1M Reduce -1.6%
CSCO Cisco Systems Inc. 0.15% 129,498 $10.0M Reduce -1.3%
CRH CRH PLC 0.14% 103,490 $9.6M Reduce -1.1%
ECL Ecolab Inc. 0.14% 36,349 $9.5M Reduce -1.3%
NOW ServiceNow Inc. 0.14% 62,250 $9.5M Reduce -7.5%
CP Canadian Pacific Kansas City 0.13% 123,381 $9.1M Add +124.1%
T AT&T Inc. 0.13% 362,899 $9.0M Reduce -3.4%
LIN Linde PLC 0.13% 21,002 $8.9M Add +0.4%
WBS Webster Financial Corp. 0.13% 141,558 $8.9M Reduce -0.5%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.12% 444,142 $8.2M Add +38.0%
ABT Abbott Laboratories 0.12% 64,122 $8.0M Add +8.1%
MA Mastercard Inc. Class A 0.12% 14,018 $8.0M Reduce -9.1%
ROP Roper Technologies Inc. 0.11% 16,511 $7.3M Reduce -2.2%
INCY Incyte Corp. 0.11% 74,059 $7.3M Add +1.4%
ALC Alcon Inc. filed as ALCON AG 0.11% 114,307 $7.2M Add +52.1%
SPGI S&P Global Inc. 0.11% 13,648 $7.1M Reduce -1.3%
NEM Newmont Corp. 0.10% 71,350 $7.0M Add +7.8%
CAT Caterpillar Inc. 0.10% 12,237 $7.0M Reduce -24.4%
JNJ Johnson & Johnson 0.10% 33,784 $7.0M Reduce -8.0%
WPM Wheaton Precious Metals Corp. 0.10% 39,879 $6.4M Add +32.7%
NDAQ Nasdaq Inc. 0.09% 65,178 $6.3M Reduce -3.2%
GILD Gilead Sciences Inc. 0.09% 51,230 $6.3M Reduce -2.0%
AMD Advanced Micro Devices 0.09% 30,027 $6.3M Reduce -15.1%
KLAC KLA Corp. 0.09% 5,123 $6.2M Reduce -3.1%
MDB Mongodb Inc. 0.09% 14,822 $6.2M No change
ADBE Adobe Inc. 0.09% 17,376 $6.1M Reduce -2.6%
UNP Union Pacific Corp. 0.09% 25,824 $6.0M Reduce -2.1%
HD Home Depot Inc. 0.09% 16,954 $5.8M Reduce -10.4%
HEI Heico Corp. 0.09% 17,828 $5.8M Reduce -1.7%
UBS UBS Group AG-Reg 0.08% 153,351 $5.7M Add +6.2%
NFLX Netflix Inc. 0.08% 59,980 $5.6M Reduce -1.9%
MDT Medtronic PLC 0.08% 55,395 $5.3M Reduce -3.9%
GE General Electric filed as GE AEROSPACE 0.08% 16,684 $5.1M Reduce -4.2%
DB Deutsche Bank AG-Registered 0.07% 147,750 $4.9M Add +4.7%
MCO Moody's Corp. 0.07% 9,209 $4.7M Reduce -3.0%
PLTR Palantir Technologies Inc. Class A 0.07% 26,456 $4.7M Reduce -7.9%
ANET Arista Networks Inc. 0.07% 34,246 $4.5M Reduce -5.5%
AMGN Amgen Inc. 0.06% 12,384 $4.1M Add +0.2%
HUBB Hubbell Inc. 0.06% 8,865 $3.9M Reduce -18.3%
AME Ametek Inc. 0.05% 18,044 $3.7M Reduce -5.0%
XYL Xylem Inc. 0.05% 25,879 $3.5M Reduce -4.9%
TT Trane Technologies PLC 0.05% 9,003 $3.5M Reduce -3.0%
SCHW Schwab (charles) Corp. 0.05% 34,310 $3.4M Reduce -9.1%
APH Amphenol Corp. Class A 0.05% 24,959 $3.4M Reduce -8.4%
PM Philip Morris International 0.05% 20,746 $3.3M Reduce -7.2%
PLD Prologis Inc. 0.05% 25,385 $3.2M Add +1.5%
CMCSA Comcast Corp. Class A 0.05% 107,135 $3.2M Reduce -7.9%
CEG Constellation Energy 0.05% 8,977 $3.2M Reduce -4.9%
EMR Emerson Electric Co. 0.05% 23,236 $3.1M Reduce -1.7%
EOG EOG Resources Inc. 0.05% 29,130 $3.1M Reduce -20.2%
BKNG Booking Holdings Inc. 0.04% 553 $3.0M Reduce -8.6%
ELV Elevance Health Inc. 0.04% 8,424 $3.0M Reduce -0.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 9,855 $2.9M Reduce -6.9%
ADSK Autodesk Inc. 0.04% 9,833 $2.9M Reduce -3.1%
WAB Wabtec Corp. 0.04% 12,977 $2.8M Reduce -9.4%
CNI Canadian Natl Railway Co. 0.04% 20,220 $2.7M Add +1.8%
MCK McKesson Corp. 0.04% 3,303 $2.7M Reduce -8.2%
AMAT Applied Materials Inc. 0.04% 9,939 $2.6M Reduce -18.7%
DNLI Denali Therapeutics Inc. 0.04% 151,591 $2.5M Add +11.7%
SOLS Solstice Adv Materials Inc. 0.04% 50,610 $2.5M Add +0.2%
KMI Kinder Morgan Inc. 0.04% 86,540 $2.4M Reduce -8.6%
ALL Allstate Corp. 0.03% 11,327 $2.4M Reduce -8.7%
INTU Intuit Inc. 0.03% 3,546 $2.3M Reduce -8.5%
HIG Hartford Insurance Group Inc. 0.03% 16,953 $2.3M Reduce -9.4%
PGR Progressive Corp. 0.03% 10,252 $2.3M Reduce -8.7%
VZ Verizon Communications Inc. 0.03% 57,217 $2.3M Reduce -8.0%
COF Capital One Financial Corp. 0.03% 9,552 $2.3M Reduce -7.1%
ADP Automatic Data Processing 0.03% 8,888 $2.3M Reduce -8.3%
STLA Stellantis NV 0.03% 236,270 $2.2M Add +56.0%
QCOM Qualcomm Inc. 0.03% 12,974 $2.2M Reduce -8.1%
STZ Constellation Brands Inc. Class A 0.03% 15,805 $2.2M Reduce -3.6%
ACN Accenture PLC Class A 0.03% 8,000 $2.1M Reduce -7.0%
CBRE CBRE Group Inc. Class A 0.03% 13,333 $2.1M Reduce -8.8%
MNST Monster Beverage Corp. 0.03% 27,860 $2.1M Reduce -21.3%
ED Consolidated Edison Inc. 0.03% 21,412 $2.1M Reduce -8.7%
MCD McDonald's Corp. 0.03% 6,923 $2.1M Reduce -8.7%
HWM Howmet Aerospace Inc. 0.03% 10,270 $2.1M Reduce -8.4%
CL Colgate-Palmolive Co. 0.03% 26,049 $2.1M Reduce -9.4%
OKE Oneok Inc. 0.03% 27,679 $2.0M Reduce -9.4%
PFE Pfizer Inc. 0.03% 81,694 $2.0M Reduce -8.5%
FCX Freeport-McMoran Inc. 0.03% 39,362 $2.0M Reduce -7.6%
TRGP Targa Resources Corp. 0.03% 10,412 $1.9M Reduce -9.4%
HLT Hilton Worldwide Holdings Inc. 0.03% 6,562 $1.9M Add +1.8%
DOV Dover Corp. 0.03% 9,528 $1.9M Reduce -8.5%
CFG Citizens Financial Group 0.03% 31,285 $1.8M Reduce -9.4%
MPC Marathon Petroleum Corp. 0.03% 11,218 $1.8M Reduce -9.4%
SPOT Spotify Technology SA 0.03% 3,102 $1.8M Add +969.7%
PODD Insulet Corp. 0.03% 6,251 $1.8M Reduce -1.8%
PFG Principal Financial Group 0.03% 19,689 $1.7M Reduce -8.6%
MO Altria Group Inc. 0.03% 30,149 $1.7M Reduce -7.9%
ETN Eaton Corp. PLC 0.03% 5,428 $1.7M Reduce -8.1%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.03% 19,824 $1.7M Add +1.8%
STLD Steel Dynamics Inc. 0.02% 9,955 $1.7M No change
ADI Analog Devices Inc. 0.02% 6,123 $1.7M Reduce -9.4%
L Loews Corp. 0.02% 15,550 $1.6M Reduce -9.4%
FRT Federal Realty Invs Trust 0.02% 15,896 $1.6M Reduce -9.4%
PSX Phillips 66 0.02% 12,315 $1.6M Reduce -9.4%
BMY Bristol-Myers Squibb Co. 0.02% 28,294 $1.5M Reduce -9.4%
DOC Healthpeak Properties Inc. 0.02% 94,536 $1.5M Reduce -2.1%
BLK BlackRock Inc. 0.02% 1,412 $1.5M Reduce -8.1%
MPWR Monolithic Power Systems Inc. 0.02% 1,658 $1.5M Reduce -3.4%
TXN Texas Instruments Inc. 0.02% 8,574 $1.5M Reduce -8.9%
PEP Pepsico Inc. 0.02% 10,360 $1.5M Reduce -7.0%
OMC Omnicom Group 0.02% 18,401 $1.5M Add +428.9%
BIIB Biogen Inc. 0.02% 8,431 $1.5M Reduce -1.1%
INTC Intel Corp. 0.02% 39,947 $1.5M Reduce -20.0%
LOW Lowe's Cos Inc. 0.02% 6,007 $1.4M Reduce -7.4%
BR Broadridge Financial Solutio 0.02% 6,471 $1.4M Reduce -9.4%
MDLZ Mondelez International Inc. Class A 0.02% 26,118 $1.4M Add +3.1%
NUE Nucor Corp. 0.02% 8,546 $1.4M Reduce -9.4%
RF Regions Financial Corp. 0.02% 50,735 $1.4M Add +4.8%
EIX Edison International 0.02% 22,788 $1.4M Reduce -8.3%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.02% 13,430 $1.3M Add +30.5%
ASX Ase Technology Holding -ADR 0.02% 81,792 $1.3M Add +1.7%
DRI Darden Restaurants Inc. 0.02% 7,100 $1.3M No change
CMI Cummins Inc. 0.02% 2,549 $1.3M Reduce -7.8%
HST Host Hotels & Resorts Inc. 0.02% 71,547 $1.3M Reduce -9.4%
EBAY eBay Inc. 0.02% 14,511 $1.3M Reduce -2.1%
AMRZ Amrize Ltd. 0.02% 28,889 $1.3M Add +12.7%
PYPL PayPal Holdings Inc. 0.02% 21,341 $1.2M Reduce -8.5%
PCG P G & E Corp. 0.02% 77,499 $1.2M Reduce -9.4%
SYK Stryker Corp. 0.02% 3,468 $1.2M Reduce -10.6%
RGEN Repligen Corp. 0.02% 7,437 $1.2M Add +384.8%
ILMN Illumina Inc. 0.02% 9,205 $1.2M Add +1.5%
CTVA Corteva Inc. 0.02% 17,909 $1.2M Reduce -9.4%
FAST Fastenal Co. 0.02% 28,400 $1.1M Reduce -9.4%
CVS CVS Health Corp. 0.02% 14,336 $1.1M Reduce -8.3%
DAL Delta Air Lines Inc. 0.02% 16,262 $1.1M Reduce -9.4%
KEYS Keysight Technologies Inc. 0.02% 5,466 $1.1M Reduce -4.0%
SSNC Ss&c Technologies Holdings 0.02% 12,678 $1.1M Add +3.9%
MSCI MSCI Inc. 0.02% 1,902 $1.1M Reduce -7.8%
STE Steris PLC 0.02% 4,260 $1.1M Reduce -9.4%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.02% 37,919 $1.1M Reduce -8.0%
CCI Crown Castle Inc. 0.02% 11,929 $1.1M Reduce -9.4%
FITB Fifth Third Bancorp 0.02% 22,622 $1.1M Reduce -3.0%
LDOS Leidos Holdings Inc. 0.02% 5,834 $1.1M Reduce -8.1%
TEL Te Connectivity PLC 0.02% 4,622 $1.1M Reduce -6.3%
BALL Ball Corp. 0.02% 19,821 $1.0M Reduce -8.1%
IBKR Interactive Brokers Gro Class A 0.02% 16,288 $1.0M Reduce -9.4%
VLTO Veralto Corp. 0.02% 10,475 $1.0M Reduce -9.4%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.02% 8,971 $1.0M Reduce -9.4%
HOLX Hologic Inc. 0.02% 13,964 $1.0M Reduce -5.3%
KKR KKR & Co. Inc. 0.02% 8,116 $1.0M Reduce -9.4%
ORLY O'reilly Automotive Inc. 0.02% 11,341 $1.0M Reduce -7.5%
FOXA Fox Corp. Class A 0.02% 14,152 $1.0M Reduce -8.0%
FOX Fox Corp. Class B 0.01% 15,636 $1.0M Reduce -9.4%
PEG Public Service Enterprise GP 0.01% 12,521 $1.0M Reduce -9.4%
GS Goldman Sachs Group Inc. 0.01% 1,132 $995K Reduce -7.2%
VTR Ventas Inc. 0.01% 12,794 $990K Reduce -9.4%
ITUB Itau Unibanco H-Spon PRF ADR 0.01% 138,201 $990K Add +4.7%
LII Lennox International Inc. 0.01% 2,037 $989K Reduce -9.3%
TXT Textron Inc. 0.01% 11,278 $983K Reduce -9.4%
ZTS Zoetis Inc. 0.01% 7,801 $982K Reduce -8.8%
INSM Insmed Inc. 0.01% 5,590 $973K Reduce -57.6%
SHG Shinhan Financial Group-ADR 0.01% 17,843 $957K Add +1.8%
DASH DoorDash Inc. Class A 0.01% 4,221 $956K Reduce -9.4%
FDX FedEx Corp. 0.01% 3,255 $940K Reduce -9.5%
ABNB Airbnb Inc. Class A 0.01% 6,854 $930K Reduce -9.4%
TRMB Trimble Inc. 0.01% 11,479 $899K Reduce -9.4%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 14,057 $886K Reduce -9.4%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.01% 8,577 $878K Reduce -7.7%
ALLE Allegion PLC 0.01% 5,477 $872K Reduce -8.0%
RSG Republic Services Inc. 0.01% 4,111 $871K Add +1.8%
FICO Fair Isaac Corp. 0.01% 507 $857K Reduce -4.7%
IDXX Idexx Laboratories Inc. 0.01% 1,266 $856K Reduce -7.4%
CI The Cigna Group 0.01% 3,102 $854K Reduce -9.4%
TPR Tapestry Inc. 0.01% 6,674 $853K Reduce -7.4%
HAS Hasbro Inc. 0.01% 10,332 $847K Reduce -7.3%
EXC Exelon Corp. 0.01% 19,098 $832K Reduce -7.5%
ZBRA Zebra Technologies Corp. Class A 0.01% 3,419 $830K Reduce -9.4%
SNPS Synopsys Inc. 0.01% 1,736 $815K Reduce -9.4%
CNQ Canadian Natural Resources 0.01% 23,724 $803K Reduce -36.4%
BBY Best Buy Co. Inc. 0.01% 11,801 $790K Reduce -3.2%
HII Huntington Ingalls Industrie 0.01% 2,304 $784K Reduce -9.4%
RDY Dr. Reddy's Laboratories-ADR 0.01% 55,419 $778K Add +1.7%
Q Qnity Electronics Inc. 0.01% 9,384 $766K Reduce -9.4%
NXPI NXP Semiconductors NV 0.01% 3,509 $762K Reduce -9.3%
DD Dupont DE Nemours Inc. 0.01% 18,769 $755K Reduce -9.4%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.01% 9,749 $754K Reduce -7.7%
WDAY Workday Inc. Class A 0.01% 3,496 $751K Reduce -9.4%
FLUT Flutter Entertainment PLC-Di 0.01% 4,605 $743K Reduce -17.8%
VMC Vulcan Materials Co. 0.01% 2,596 $740K Reduce -3.9%
NKE Nike Inc. Class B 0.01% 11,603 $739K Add +10.3%
LYV Live Nation Entertainment Inc. 0.01% 5,111 $728K Reduce -5.1%
TSN Tyson Foods Inc. Class A 0.01% 12,403 $727K Reduce -5.0%
RCL Royal Caribbean Cruises Ltd. 0.01% 2,598 $725K Reduce -3.7%
MOS The Mosaic Co. 0.01% 29,708 $716K Reduce -9.4%
VFC VF Corp. 0.01% 38,467 $695K No change
AVB Avalonbay Communities Inc. 0.01% 3,812 $691K No change
OC Owens Corning 0.01% 6,153 $689K Add +1.8%
ICE Intercontinental Exchange Inc. 0.01% 4,225 $681K Reduce -6.8%
OSK Oshkosh Corp. 0.01% 5,409 $680K Add +1.8%
CSGP Costar Group Inc. 0.01% 9,891 $665K Reduce -9.4%
FER Ferrovial NV 0.01% 11,878 $657K Add +2.6%
SNA Snap-on Inc. 0.01% 1,904 $656K Reduce -9.3%
GEHC GE Healthcare Technology 0.01% 7,960 $653K Reduce -9.4%
TPL Texas Pacific Land Corp. 0.01% 2,247 $645K Reduce -9.5%
IR Ingersoll-Rand Inc. 0.01% 8,146 $645K Add +1.8%
MMM 3M Co. 0.01% 3,983 $638K Reduce -5.9%
GM General Motors Co. 0.01% 7,793 $634K Reduce -5.6%
CAH Cardinal Health Inc. 0.01% 3,037 $624K Reduce -75.2%
TFC Truist Financial Corp. 0.01% 12,629 $621K Reduce -6.0%
PAYX Paychex Inc. 0.01% 5,513 $618K Reduce -9.4%
DXCM Dexcom Inc. 0.01% 9,217 $612K Reduce -8.4%
ALV Autoliv Inc. 0.01% 5,143 $610K Reduce -86.4%
GLW Corning Inc. 0.01% 6,898 $604K Reduce -9.4%
KEY Keycorp 0.01% 28,998 $599K Reduce -9.4%
RMD Resmed Inc. 0.01% 2,478 $597K Reduce -6.8%
VRSK Verisk Analytics Inc. 0.01% 2,666 $596K Reduce -9.4%
WM Waste Management Inc. 0.01% 2,705 $594K Reduce -9.4%
IVZ Invesco Ltd. 0.01% 22,622 $594K Reduce -9.4%
LVS Las Vegas Sands Corp. 0.01% 9,049 $589K New
CRWD CrowdStrike Holdings Inc. Class A 0.01% 1,253 $587K Reduce -8.2%
A Agilent Technologies Inc. 0.01% 4,309 $586K Reduce -9.4%
UAL United Airlines Holdings Inc. 0.01% 5,242 $586K Reduce -9.4%
ROK Rockwell Automation Inc. 0.01% 1,493 $581K Reduce -6.3%
CTSH Cognizant Tech Solutions-A 0.01% 6,991 $580K Reduce -9.4%
CMG Chipotle Mexican Grill Inc. 0.01% 15,596 $568K Add +1.9%
LUV Southwest Airlines Co. 0.01% 13,731 $568K Reduce -9.4%
JBL Jabil Inc. 0.01% 2,476 $565K Reduce -9.4%
DECK Deckers Outdoor Corp. 0.01% 5,207 $540K Reduce -6.4%
ADM Archer-Daniels-Midland Co. 0.01% 9,292 $534K Reduce -41.2%
NTRS Northern Trust Corp. 0.01% 3,905 $533K Reduce -9.4%
ACGL Arch Capital Group Ltd. 0.01% 5,553 $533K Reduce -2.9%
SKM SK Telecom Co. Ltd.-Spon ADR 0.01% 25,371 $521K Add +1.7%
HPE Hewlett Packard Enterprise 0.01% 21,178 $509K Reduce -9.4%
ULTA Ulta Beauty Inc. 0.01% 839 $508K Reduce -9.3%
COP Conocophillips 0.01% 5,403 $506K No change
RL Ralph Lauren Corp. 0.01% 1,411 $499K Reduce -9.3%
COIN Coinbase Global Inc. Class A 0.01% 2,143 $485K Reduce -5.7%
WDC Western Digital Corp. 0.01% 2,807 $484K Reduce -4.7%
DG Dollar General Corp. 0.01% 3,628 $482K Reduce -4.3%
CRL Charles River Laboratories 0.01% 2,405 $480K Reduce -9.4%
AXON Axon Enterprise Inc. 0.01% 834 $474K Reduce -9.4%
NSC Norfolk Southern Corp. 0.01% 1,632 $471K Reduce -9.4%
UPS United Parcel Service Class B 0.01% 4,744 $471K Reduce -9.4%
TSCO Tractor Supply Company 0.01% 9,319 $466K Reduce -9.4%
MKC McCormick & Co.-Non VTG SHRS 0.01% 6,750 $460K No change
MICC The Magnum Ice Cream Co. NV 0.01% 35,444 $458K New
ROST Ross Stores Inc. 0.01% 2,530 $456K Reduce -40.7%
PRU Prudential Financial Inc. 0.01% 4,034 $455K Reduce -5.6%
DDOG Datadog Inc. Class A 0.01% 3,314 $451K Reduce -5.9%
FMX Fomento Economico Mex-SP ADR 0.01% 4,433 $448K Add +1.7%
AZO AutoZone Inc. 0.01% 131 $444K Reduce -10.3%
JAZZ Jazz Pharmaceuticals PLC 0.01% 2,576 $438K No change
WMB Williams Cos Inc. 0.01% 7,225 $434K No change
CNC Centene Corp. 0.01% 10,553 $434K Reduce -9.4%
ESS Essex Property Trust Inc. 0.01% 1,651 $432K Reduce -9.5%
NWSA News Corp. Class A 0.01% 16,147 $422K Reduce -9.4%
WST West Pharmaceutical Services 0.01% 1,530 $421K Reduce -6.0%
MRSH Marsh & McLennan Cos 0.01% 2,236 $415K Reduce -9.4%
GRMN Garmin Ltd. 0.01% 2,032 $412K Reduce -5.0%
BSY Bentley Systems Inc. Class B 0.01% 10,736 $410K Add +42.4%
AXP American Express Co. 0.01% 1,104 $408K Reduce -3.9%
ROL Rollins Inc. 0.01% 6,781 $407K Reduce -6.0%
PNR Pentair PLC 0.01% 3,886 $405K Reduce -9.5%
KR Kroger Co. 0.01% 6,403 $400K Reduce -9.4%
CLX Clorox Company 0.01% 3,847 $388K Reduce -6.1%
EPAM Epam Systems Inc. 0.01% 1,884 $386K Reduce -9.5%
TTWO Take-Two Interactive Softwre 0.01% 1,501 $384K Reduce -9.4%
GIS General Mills Inc. 0.01% 8,224 $382K Add +0.9%
AMP Ameriprise Financial Inc. 0.01% 777 $381K Reduce -9.6%
FISV Fiserv Inc. 0.01% 5,522 $371K Reduce -9.4%
CPT Camden Property Trust 0.01% 3,354 $369K Reduce -9.4%
TAP Molson Coors Beverage Co. Class B 0.01% 7,900 $369K Reduce -9.4%
CPRT Copart Inc. 0.01% 9,350 $366K Reduce -5.2%
CAG Conagra Brands Inc. 0.01% 20,931 $362K Reduce -9.4%
PKG Packaging Corp. of America 0.01% 1,755 $362K Reduce -9.4%
MKTX Marketaxess Holdings Inc. 0.01% 1,995 $362K Reduce -9.4%
IT Gartner Inc. 0.01% 1,421 $358K Reduce -9.6%
DELL Dell Technologies -C 0.01% 2,829 $356K Reduce -9.4%
AES AES Corp. 0.01% 24,454 $351K Reduce -9.4%
SPG Simon Property Group Inc. 0.01% 1,847 $342K Reduce -41.7%
GEN Gen Digital Inc. 0.01% 12,479 $339K Reduce -9.4%
APD Air Products & Chemicals Inc. 0.01% 1,356 $335K Reduce -9.5%
UDR Udr Inc. 0.00% 9,033 $331K Reduce -9.4%
PTC PTC Inc. 0.00% 1,842 $321K Reduce -4.9%
RJF Raymond James Financial Inc. 0.00% 1,984 $319K Reduce -4.2%
KDP Keurig Dr Pepper Inc. 0.00% 11,258 $315K Reduce -9.4%
MTB M & T Bank Corp. filed as M & T BK CORP 0.00% 1,562 $315K Reduce -9.3%
EG Everest Group Ltd. 0.00% 916 $311K Reduce -9.4%
WTW Willis Towers Watson PLC 0.00% 937 $308K Reduce -9.3%
DLTR Dollar Tree Inc. 0.00% 2,503 $308K Reduce -9.4%
EXAS Exact Sciences Corp. 0.00% 3,025 $307K New
TER Teradyne Inc. 0.00% 1,568 $304K Reduce -9.5%
MCHP Microchip Technology Inc. 0.00% 4,763 $303K Reduce -9.4%
NATL NCR Atleos Corp. 0.00% 7,851 $299K No change
STX Seagate Technology Holdings 0.00% 1,071 $295K Reduce -1.6%
MTCH Match Group Inc. 0.00% 9,054 $292K Reduce -9.4%
SUZ Suzano SA - Spon ADR 0.00% 30,716 $287K Add +1.7%
BG Bunge Global SA 0.00% 3,146 $280K Reduce -9.4%
AKAM Akamai Technologies Inc. 0.00% 3,192 $279K Reduce -4.7%
CSX CSX Corp. 0.00% 7,674 $278K Reduce -9.4%
TECH Bio-Techne Corp. 0.00% 4,600 $271K Reduce -9.4%
CBOE Cboe Global Markets Inc. 0.00% 1,062 $267K Reduce -9.4%
CARR Carrier Global Corp. 0.00% 5,019 $265K Add +0.8%
ES Eversource Energy 0.00% 3,933 $265K Reduce -9.5%
HBAN Huntington Bancshares Inc. 0.00% 15,045 $261K Reduce -2.9%
FSLR First Solar Inc. 0.00% 994 $260K Reduce -8.6%
TKO Tko Group Holdings Inc. 0.00% 1,240 $259K Reduce -9.5%
CHRW C.H. Robinson Worldwide Inc. 0.00% 1,580 $254K Reduce -3.4%
BBD Banco Bradesco-ADR 0.00% 76,140 $254K Reduce -70.2%
VEEV Veeva Systems Inc. Class A 0.00% 1,123 $251K No change
CZR Caesars Entertainment Inc. 0.00% 10,705 $250K Reduce -9.4%
OTIS Otis Worldwide Corp. 0.00% 2,849 $249K Reduce -9.4%
CTAS Cintas Corp. 0.00% 1,322 $249K Reduce -2.4%
LULU Lululemon Athletica Inc. 0.00% 1,191 $248K Reduce -5.1%
INVH Invitation Homes Inc. 0.00% 8,872 $247K Reduce -9.4%
WAT Waters Corp. 0.00% 643 $244K New
CCJ Cameco Corp. 0.00% 1,928 $242K Add +5.9%
BDX Becton Dickinson and Co. 0.00% 1,243 $241K Reduce -9.5%
APTV Aptiv PLC 0.00% 3,023 $230K Reduce -9.4%
EA Electronic Arts Inc. 0.00% 1,111 $227K Reduce -9.4%
LEN Lennar Corp. Class A 0.00% 2,185 $225K Reduce -9.4%
ATR Aptargroup Inc. 0.00% 1,785 $218K No change
MTZ Mastec Inc. 0.00% 983 $214K Reduce -6.2%
SYF Synchrony Financial 0.00% 2,484 $207K New
TU Telus Corp. 0.00% 11,008 $199K No change
AMCR Amcor PLC 0.00% 22,704 $189K Reduce -9.4%
VTRS Viatris Inc. 0.00% 11,872 $148K Reduce -9.4%

Options reported separately and not counted above: TECK calls ($238K), TTE calls ($201K), COIN puts ($187K), PANW calls ($20K), SCHW puts ($17K).

Other holdings (36): bonds, preferreds, convertibles and warrants · $62.6M (not counted above)
SecurityClassShares / PrincipalValueChange
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal 6,967,000$7.0MNew
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 4,000,000$3.7MNew
ITRON INC (ITRI 0 03/15/26) NOTE 3/1 · principal 3,500,000$3.5MNew
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal 3,200,000$3.4MNew
PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal 2,850,000$2.9MNew
BILL HOLDINGS INC (BILL 0 04/01/30) NOTE 4/0 · principal 3,100,000$2.9MNew
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal 2,550,000$2.7MNew
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 2,000,000$2.7MNew
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal 2,350,000$2.7MNew
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 1,918,000$2.4MNew
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal 1,450,000$2.2MNew
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 2,200,000$2.2MNew
LYFT INC (LYFT 0.625 03/01/29) NOTE 0.625% 3/0 · principal 1,600,000$1.9MNew
AXON ENTERPRISE INC (AXON 0.5 12/15/27) NOTE 0.500%12/1 · principal 750,000$1.9MNew
MERITAGE HOMES CORP (MTH 1.75 05/15/28) NOTE 1.750% 5/1 · principal 1,700,000$1.7MNew
CYTOKINETICS INC (CYTK 3.5 07/01/27) NOTE 3.500% 7/0 · principal 1,150,000$1.6MNew
VARONIS SYSTEM INC (VRNS 1 09/15/29) NOTE 1.000% 9/1 · principal 1,650,000$1.5MNew
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) NOTE 1.250%11/0 · principal 1,350,000$1.5MNew
AEROVIRONMENT INC (AVAV 0 07/15/30) NOTE 7/1 · principal 1,300,000$1.4MNew
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 1,350,000$1.4MNew
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal 1,250,000$1.4MNew
PARSONS CORP (PSN 2.625 03/01/29) NOTE 2.625% 3/0 · principal 1,200,000$1.3MNew
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal 800,000$1.1MNew
REPLIGEN CORP (RGEN 1 12/15/28) NOTE 1.000%12/1 · principal 900,000$997KNew
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) NOTE 2.250% 4/0 · principal 700,000$987KNew
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal 700,000$790KNew
UPWORK INC (UPWK 0.25 08/15/26) NOTE 0.250% 8/1 · principal 700,000$685KNew
NUTANIX INC (NTNX 0.5 12/15/29) NOTE 0.500%12/1 · principal 700,000$676KNew
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) NOTE 0.500% 8/0 · principal 650,000$631KNew
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) NOTE 0.750%12/1 · principal 550,000$615KNew
MARA HOLDINGS INC (MARA 0 03/01/30) NOTE 3/0 · principal 750,000$600KNew
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 500,000$476KNew
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) NOTE 2.625%12/1 · principal 400,000$461KNew
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) NOTE 0.750% 6/0 · principal 400,000$393KNew
WORKIVA INC (WK 1.25 08/15/28) NOTE 1.250% 8/1 · principal 350,000$347KNew
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A · principal 17,850$7KNew

Total filed on the 13F, all lines: $6.8B.

Portfolio Sells Q3 2025 → Q4 2025
RTX RTX Corp. Sold out 0.00% −2.24
AVGO Broadcom Inc. Reduce -28.5% 4.43% −1.54
AEM Agnico Eagle Mines Ltd. Reduce -25.0% 2.85% −0.98
MSFT Microsoft Corp. Reduce -1.6% 7.54% −0.76
META Meta Platforms Inc. Class A Reduce -5.1% 1.96% −0.36
AMZN Amazon.com Inc. Reduce -9.0% 3.21% −0.18
NVDA Nvidia Corp. Reduce -1.4% 6.57% −0.16
CYBR Cyberark Software Ltd./Israel Reduce -6.6% 0.86% −0.15
PANW Palo Alto Networks Inc. Reduce -5.2% 0.65% −0.12
DIS The Walt Disney Co. Reduce -17.2% 0.45% −0.10
HON Honeywell International Inc. Reduce -4.4% 0.56% −0.08
VLO Valero Energy Corp. Reduce -9.5% 0.38% −0.06
ALV Autoliv Inc. Reduce -86.4% 0.01% −0.06
MU Micron Technology Inc. Reduce -41.9% 3.26% −0.06
TSLA Tesla Inc. Reduce -7.5% 0.72% −0.06
SW Smurfit Westrock PLC Reduce -9.3% 0.25% −0.05
FNV Franco-Nevada Corp. Reduce -0.5% 0.57% −0.05
PWR Quanta Services Inc. Sold out 0.00% −0.05
UNH Unitedhealth Group Inc. Reduce -8.5% 0.29% −0.04
NOW ServiceNow Inc. Reduce -7.5% 0.14% −0.04
JPM JPMorgan Chase & Co. Reduce -2.2% 3.62% −0.04
HD Home Depot Inc. Reduce -10.4% 0.09% −0.03
PNC PNC Financial Services Group Reduce -6.2% 0.76% −0.03
NFLX Netflix Inc. Reduce -1.9% 0.08% −0.03
T AT&T Inc. Reduce -3.4% 0.13% −0.02
FTNT Fortinet Inc. Sold out 0.00% −0.02
TRV The Travelers Cos Inc. Sold out 0.00% −0.02
VRSN Verisign Inc. Sold out 0.00% −0.02
IPG Interpublic Group of Cos Inc. Sold out 0.00% −0.02
CME Cme Group Inc. Reduce -2.3% 0.93% −0.02
EW Edwards Lifesciences Corp. Sold out 0.00% −0.02
CAH Cardinal Health Inc. Reduce -75.2% 0.01% −0.02
BNTX Biontech SE-ADR Reduce -2.2% 0.27% −0.02
COR Cencora Inc. Sold out 0.00% −0.02
ROP Roper Technologies Inc. Reduce -2.2% 0.11% −0.02
BILL Bill Holdings Inc. Sold out 0.00% −0.02
EOG EOG Resources Inc. Reduce -20.2% 0.05% −0.02
SFM Sprouts Farmers Market Inc. Sold out 0.00% −0.02
ABBV Abbvie Inc. Reduce -0.5% 0.54% −0.01
SCI Service Corp. International Reduce -1.6% 0.15% −0.01
INSM Insmed Inc. Reduce -57.6% 0.01% −0.01
DD Dupont DE Nemours Inc. Reduce -9.4% 0.01% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.6% 0.42% −0.01
MA Mastercard Inc. Class A Reduce -9.1% 0.12% −0.01
ANET Arista Networks Inc. Reduce -5.5% 0.07% −0.01
CAT Caterpillar Inc. Reduce -24.4% 0.10% −0.01
HUBB Hubbell Inc. Reduce -18.3% 0.06% −0.01
GL Globe Life Inc. Sold out 0.00% −0.01
ECL Ecolab Inc. Reduce -1.3% 0.14% −0.01
BBD Banco Bradesco-ADR Reduce -70.2% 0.00% −0.01

Portfolio Buys Q3 2025 → Q4 2025
GOOGL Alphabet Inc. Class A Add +8.7% 4.48% +1.25
VRTX Vertex Pharmaceuticals Inc. Add +276.1% 1.09% +0.84
TTE Totalenergies SE New 0.78% +0.78
TMO Thermo Fisher Scientific Inc. Add +12.5% 2.36% +0.59
LLY Eli Lilly & Co. Add +9.3% 1.54% +0.53
PG The Procter & Gamble Co. Add +59.1% 1.14% +0.37
MRK Merck & Co. Inc. Add +8.2% 1.40% +0.36
IONS Ionis Pharmaceuticals Inc. Add +36.5% 0.90% +0.35
WMT Walmart Inc. Add +9.9% 1.98% +0.30
REGN Regeneron Pharmaceuticals Add +13.5% 0.81% +0.29
PH Parker Hannifin Corp. Add +0.1% 2.16% +0.28
BKR Baker Hughes Co. Add +32.8% 1.29% +0.24
HAL Halliburton Co. Add +19.9% 0.81% +0.22
ORCL Oracle Corp. Add +186.5% 0.38% +0.18
TECK Teck Resources Ltd.-CLS B Add +3.8% 1.50% +0.16
NEE Nextera Energy Inc. Add +14.5% 0.89% +0.15
NTRA Natera Inc. Add +19.5% 0.31% +0.13
KO The Coca-Cola Co. Add +27.3% 0.48% +0.12
ETR Entergy Corp. Add +17.0% 0.90% +0.12
GOOG Alphabet Inc. Class C Add +8.6% 0.45% +0.12
SRE Sempra Add +20.9% 0.79% +0.12
ISRG Intuitive Surgical Inc. Add +11.7% 0.40% +0.11
C Citigroup Inc. Add +1.6% 0.83% +0.11
AGI Alamos Gold Inc. Class A Add +43.4% 0.26% +0.09
MDGL Madrigal Pharmaceuticals Inc. Add +11.6% 0.26% +0.08
CP Canadian Pacific Kansas City Add +124.1% 0.13% +0.07
DHR Danaher Corp. Add +22.6% 0.18% +0.05
ORLA Orla Mining Ltd. Add +38.0% 0.12% +0.05
ALC Alcon Inc. Add +52.1% 0.11% +0.04
WFC Wells Fargo & Co. Add +15.5% 0.20% +0.04
WTS Watts Water Technologies-A Add +14.9% 0.31% +0.03
TSM Taiwan Semiconductor-SP ADR Add +1.5% 0.39% +0.03
WPM Wheaton Precious Metals Corp. Add +32.7% 0.10% +0.03
SPOT Spotify Technology SA Add +969.7% 0.03% +0.02
NEM Newmont Corp. Add +7.8% 0.10% +0.02
CRM Salesforce Inc. Add +2.1% 0.15% +0.02
OMC Omnicom Group Add +428.9% 0.02% +0.02
COST Costco Wholesale Corp. Add +17.3% 0.22% +0.02
INCY Incyte Corp. Add +1.4% 0.11% +0.02
STLA Stellantis NV Add +56.0% 0.03% +0.02
RGEN Repligen Corp. Add +384.8% 0.02% +0.01
UBS UBS Group AG-Reg Add +6.2% 0.08% +0.01
DB Deutsche Bank AG-Registered Add +4.7% 0.07% +0.01
LVS Las Vegas Sands Corp. New 0.01% +0.01
AMGN Amgen Inc. Add +0.2% 0.06% +0.01
DNLI Denali Therapeutics Inc. Add +11.7% 0.04% +0.01
MICC The Magnum Ice Cream Co. NV New 0.01% +0.01
EL Estee Lauder Companies Class A Add +30.5% 0.02% +0.01
ASX Ase Technology Holding -ADR Add +1.7% 0.02% +0.01
EQIX Equinix Inc. Add +4.9% 0.38% +0.01

Options Activity Q3 2025 → Q4 2025
TTE Totalenergies SE call New 145,860 $201K
PANW Palo Alto Networks Inc. call Reduce -16.7% 7,500 $20K
SCHW Schwab (charles) Corp. put New 12,000 $17K

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
RACE Ferrari NV COM · principal Sold out 16,900,000 $16.6Mbefore exit
QGEN Qiagen N.V. COM SHS · principal Sold out 15,000,000 $15.3Mbefore exit
COIN Coinbase Global Inc. Class A COM CL A · principal Sold out 6,550,000 $7.3Mbefore exit
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal New 6,967,000 $7.0M
MSFT Microsoft Corp. COM · principal Sold out 5,000,000 $5.7Mbefore exit
ZS Zscaler Inc. COM · principal Sold out 4,750,000 $4.7Mbefore exit
DDOG Datadog Inc. Class A CL A COM · principal Sold out 4,567,000 $4.6Mbefore exit
BILL Bill Holdings Inc. COM · principal Sold out 4,450,000 $4.1Mbefore exit
ALNY Alnylam Pharmaceuticals Inc. COM · principal Sold out 4,000,000 $4.0Mbefore exit
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal New 4,000,000 $3.7M
DXCM Dexcom Inc. COM · principal Sold out 4,000,000 $3.7Mbefore exit
ITRON INC (ITRI 0 03/15/26) NOTE 3/1 · principal New 3,500,000 $3.5M
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal New 3,200,000 $3.4M
PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal New 2,850,000 $2.9M
BILL HOLDINGS INC (BILL 0 04/01/30) NOTE 4/0 · principal New 3,100,000 $2.9M
WELL Welltower Inc. COM · principal Sold out 1,900,000 $2.8Mbefore exit
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal New 2,550,000 $2.7M
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal New 2,000,000 $2.7M
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal New 2,350,000 $2.7M
PCG P G & E Corp. COM · principal Sold out 1,867,850 $2.6Mbefore exit
NET Cloudflare Inc. Class A CL A COM · principal Sold out 2,100,000 $2.4Mbefore exit
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal New 1,918,000 $2.4M
LYV Live Nation Entertainment Inc. COM · principal Sold out 2,000,000 $2.2Mbefore exit
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal New 1,450,000 $2.2M
CYBR Cyberark Software Ltd./Israel SHS · principal Sold out 2,000,000 $2.2Mbefore exit
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal New 2,200,000 $2.2M
LYFT INC (LYFT 0.625 03/01/29) NOTE 0.625% 3/0 · principal New 1,600,000 $1.9M
AXON ENTERPRISE INC (AXON 0.5 12/15/27) NOTE 0.500%12/1 · principal New 750,000 $1.9M
BTG B2GOLD Corp. COM · principal Sold out 1,000,000 $1.7Mbefore exit
HALO Halozyme Therapeutics Inc. COM · principal Sold out 1,200,000 $1.7Mbefore exit
MERITAGE HOMES CORP (MTH 1.75 05/15/28) NOTE 1.750% 5/1 · principal New 1,700,000 $1.7M
CYTOKINETICS INC (CYTK 3.5 07/01/27) NOTE 3.500% 7/0 · principal New 1,150,000 $1.6M
NEE Nextera Energy Inc. COM · principal Sold out 1,350,000 $1.6Mbefore exit
SNOW Snowflake Inc. COM SHS · principal Sold out 1,000,000 $1.6Mbefore exit
F Ford Motor Co. COM · principal Sold out 1,550,000 $1.6Mbefore exit
AXON Axon Enterprise Inc. COM · principal Sold out 500,000 $1.6Mbefore exit
VARONIS SYSTEM INC (VRNS 1 09/15/29) NOTE 1.000% 9/1 · principal New 1,650,000 $1.5M
AWK American Water Works Co. Inc. COM · principal Sold out 1,500,000 $1.5Mbefore exit
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) NOTE 1.250%11/0 · principal New 1,350,000 $1.5M
DASH DoorDash Inc. Class A CL A · principal Sold out 1,300,000 $1.5Mbefore exit
LITE Lumentum Holdings Inc. COM · principal Sold out 600,000 $1.5Mbefore exit
RIVN Rivian Automotive Inc. Class A COM CL A · principal Sold out 1,500,000 $1.4Mbefore exit
AEROVIRONMENT INC (AVAV 0 07/15/30) NOTE 7/1 · principal New 1,300,000 $1.4M
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal New 1,350,000 $1.4M
VRNS Varonis Systems Inc. COM · principal Sold out 1,250,000 $1.4Mbefore exit
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal New 1,250,000 $1.4M
LYFT LYFT Inc. Class A CL A COM · principal Sold out 1,000,000 $1.3Mbefore exit
PARSONS CORP (PSN 2.625 03/01/29) NOTE 2.625% 3/0 · principal New 1,200,000 $1.3M
AVAV Aerovironment Inc. COM · principal Sold out 1,000,000 $1.2Mbefore exit
EXAS Exact Sciences Corp. COM · principal Sold out 1,200,000 $1.1Mbefore exit

Showing the first 50 of 96.

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 372$7.9BNVDA, MU, GOOGL, MSFT, AVGO
Q1 2026 366$6.8BNVDA, MSFT, AAPL, GOOGL, AVGO
Q4 2025 396$6.8BMSFT, NVDA, AAPL, GOOGL, AVGO
Q3 2025 405$6.7BMSFT, NVDA, AVGO, AAPL, AEM
Q2 2025 341$5.9BMSFT, NVDA, AVGO, AAPL, AMZN
Q1 2025 346$4.9BMSFT, NVDA, AAPL, AMZN, JPM
Q4 2024 353$4.8BMSFT, NVDA, AAPL, AMZN, GOOGL
Q3 2024 412$3.8BMSFT, NVDA, AAPL, AVGO, GOOGL
Q2 2024 396$7.3BTM, MUFG, MSFT, SONY, SMFG
Q1 2024 457$5.5BMSFT, ASML, NVDA, AAPL, NVO