Groupama Asset Managment

Name: GROUPAMA ASSET MANAGMENT 13F holdings, Q1 2026
Creator: GROUPAMA ASSET MANAGMENT
Published: 2026-05-22

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

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 22, 2026), Groupama Asset Managment reported 366 stock positions worth $6.8 billion. Its top holding was Nvidia (NVDA) at 6.0% of the portfolio, followed by Microsoft (MSFT, 5.7%) and Apple (AAPL, 4.6%). Compared with Q4 2025, it opened 35 new positions, sold out of 65, added to 119 and reduced 200. The biggest buy was a new position in RTX (RTX) and the biggest sale Microsoft (MSFT, shares −1%).

Most Recent 13F: Q2 2026
Location: PARIS, I0
CIK: 0001055969
Portfolio Value: $6.8B (Q1 2026)
SEC Filing: 0001752724-26-000039 ↗ filed May 22, 2026

Holdings Value

Holdings 366 stocks · $6.8B


NVDA Nvidia Corp.	6.01%	2,341,401	$408.3M	Reduce -1.8%
MSFT Microsoft Corp.	5.69%	1,044,807	$386.8M	Reduce -1.2%
AAPL Apple Inc.	4.58%	1,227,358	$311.5M	Reduce -2.7%
GOOGL Alphabet Inc. Class A	4.23%	999,305	$287.4M	Add +3.1%
AVGO Broadcom Inc.	3.89%	854,556	$264.5M	Reduce -1.4%
MU Micron Technology Inc.	3.33%	669,496	$226.2M	Reduce -13.4%
JPM JPMorgan Chase & Co.	3.17%	733,012	$215.6M	Reduce -3.5%
AMZN Amazon.com Inc.	2.98%	972,130	$202.5M	Add +3.3%
MSI Motorola Solutions Inc.	2.79%	436,658	$189.5M	Add +0.7%
AEM Agnico Eagle Mines Ltd.	2.74%	916,470	$186.0M	Reduce -19.8%
RTX RTX Corp.	2.38%	839,280	$161.9M	New
PH Parker Hannifin Corp.	2.30%	174,992	$156.7M	Add +5.3%
WMT Walmart Inc.	2.18%	1,191,317	$148.1M	Reduce -0.7%
TMO Thermo Fisher Scientific Inc.	1.94%	268,550	$132.0M	Reduce -2.5%
XPO Xpo Inc.	1.87%	653,083	$127.1M	Add +0.7%
AZN Astrazeneca PLC	1.87%	863,629	$126.9M	New
BKR Baker Hughes Co.	1.74%	1,932,305	$118.0M	Add +0.6%
META Meta Platforms Inc. Class A	1.63%	194,182	$111.1M	Reduce -3.5%
TECK Teck Resources Ltd.-CLS B	1.60%	2,098,372	$109.1M	Reduce -0.5%
MRK Merck & Co. Inc.	1.55%	874,963	$105.2M	Reduce -2.9%
GEV GE Vernova Inc.	1.54%	119,648	$104.4M	Add +2.0%
LLY Eli Lilly & Co.	1.29%	95,376	$87.7M	Reduce -2.2%
PANW Palo Alto Networks Inc.	1.27%	538,549	$86.3M	Add +123.6%
BSX Boston Scientific Corp.	1.27%	1,375,261	$86.3M	Add +0.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW	1.23%	522,685	$83.5M	Reduce -0.8%
HAL Halliburton Co.	1.23%	2,137,708	$83.3M	Add +10.1%
CME Cme Group Inc.	1.17%	268,871	$79.4M	Add +16.2%
ETR Entergy Corp.	1.15%	695,812	$78.2M	Add +5.1%
PG The Procter & Gamble Co.	1.12%	525,655	$75.9M	Reduce -2.5%
TTE Totalenergies SE	1.10%	922,497	$74.6M	Reduce -2.5%
VRTX Vertex Pharmaceuticals Inc.	1.09%	165,897	$74.1M	Add +1.7%
NEE Nextera Energy Inc.	1.06%	778,379	$72.3M	Add +3.5%
IONS Ionis Pharmaceuticals Inc.	0.91%	824,540	$61.9M	Add +7.5%
URI United Rentals Inc.	0.90%	83,979	$61.2M	Reduce -0.6%
SRE Sempra	0.86%	602,468	$58.5M	Reduce -0.1%
FNV Franco-Nevada Corp.	0.85%	234,241	$57.9M	Add +26.9%
REGN Regeneron Pharmaceuticals	0.81%	71,102	$54.9M	Reduce -0.1%
T AT&T Inc.	0.79%	1,856,730	$53.8M	Add +411.6%
C Citigroup Inc.	0.79%	472,683	$53.6M	Reduce -1.4%
VLO Valero Energy Corp.	0.77%	211,607	$52.3M	Add +34.7%
MET Metlife Inc.	0.74%	710,543	$50.2M	Reduce -2.8%
MS Morgan Stanley	0.71%	293,381	$48.3M	Add +1.0%
PNC PNC Financial Services Group	0.69%	224,652	$46.7M	Reduce -9.3%
HON Honeywell International Inc.	0.63%	188,791	$42.7M	Reduce -2.3%
TSLA Tesla Inc.	0.54%	98,292	$36.5M	Reduce -9.4%
WELL Welltower Inc.	0.51%	176,657	$34.9M	Reduce -0.5%
KO The Coca-Cola Co.	0.51%	451,749	$34.4M	Reduce -2.0%
EQIX Equinix Inc.	0.50%	35,007	$34.3M	Add +3.3%
ABBV Abbvie Inc.	0.50%	156,150	$34.0M	Reduce -2.3%
NFLX Netflix Inc.	0.44%	313,533	$30.1M	Add +422.7%
LRCX Lam Research Corp.	0.43%	136,822	$29.2M	Add +18.9%
TSM Taiwan Semiconductor-SP ADR	0.42%	85,345	$28.8M	Reduce -1.4%
SLB SLB Ltd. filed as SLB LIMITED	0.39%	518,117	$26.6M	Reduce -2.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.36%	254,138	$24.5M	Reduce -5.2%
WTS Watts Water Technologies-A	0.35%	82,602	$24.0M	Add +7.7%
BRK.B Berkshire Hathaway Inc. Class B	0.35%	49,303	$23.6M	Reduce -13.1%
ISRG Intuitive Surgical Inc.	0.33%	48,854	$22.5M	Add +2.3%
AGI Alamos Gold Inc. Class A	0.33%	499,286	$22.2M	Add +9.9%
RACE Ferrari NV	0.32%	75,106	$21.7M	Reduce -27.7%
GOOG Alphabet Inc. Class C	0.32%	75,501	$21.7M	Reduce -23.4%
V Visa Inc. Class A	0.32%	71,168	$21.5M	Add +4.8%
AMT American Tower Corp.	0.31%	123,868	$21.4M	Reduce -0.2%
COST Costco Wholesale Corp.	0.29%	19,627	$19.6M	Add +11.7%
NTRA Natera Inc.	0.28%	95,061	$19.0M	Add +3.0%
CDNS Cadence Design SYS Inc.	0.28%	67,891	$18.9M	Add +5.1%
MDGL Madrigal Pharmaceuticals Inc.	0.27%	35,238	$18.4M	Add +15.1%
ORCL Oracle Corp.	0.26%	121,578	$17.9M	Reduce -6.7%
SW Smurfit Westrock PLC	0.25%	564,888	$16.8M	Reduce -3.3%
BNTX Biontech SE-ADR	0.24%	185,036	$16.4M	Reduce -2.1%
UNH Unitedhealth Group Inc.	0.23%	57,020	$15.4M	Reduce -4.0%
HCA HCA Healthcare Inc.	0.22%	31,894	$15.1M	Add +5.3%
CP Canadian Pacific Kansas City	0.22%	185,962	$14.6M	Add +50.7%
CB Chubb Ltd.	0.20%	42,546	$13.9M	Reduce -12.6%
SCI Service Corp. International	0.20%	166,382	$13.7M	Add +28.6%
WFC Wells Fargo & Co.	0.19%	163,490	$13.0M	Add +11.2%
ECL Ecolab Inc.	0.18%	46,851	$12.5M	Add +28.9%
ALNY Alnylam Pharmaceuticals Inc.	0.18%	36,767	$12.2M	Add +2.5%
CSCO Cisco Systems Inc.	0.17%	149,572	$11.6M	Add +15.5%
LIN Linde PLC	0.17%	22,784	$11.3M	Add +8.5%
DHR Danaher Corp.	0.16%	56,483	$10.7M	Add +3.7%
WBS Webster Financial Corp.	0.15%	148,438	$10.3M	Add +4.9%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW	0.15%	454,122	$10.2M	Add +2.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.14%	193,462	$9.4M	Reduce -54.5%
UBS UBS Group AG-Reg	0.13%	288,118	$8.9M	Add +87.9%
TMUS T-Mobile US Inc.	0.12%	39,319	$8.3M	Reduce -88.1%
WPM Wheaton Precious Metals Corp.	0.12%	43,930	$8.0M	Add +10.2%
CRH CRH PLC	0.11%	96,576	$7.6M	Reduce -6.7%
ROP Roper Technologies Inc.	0.11%	21,116	$7.5M	Add +27.9%
CAT Caterpillar Inc.	0.11%	10,356	$7.3M	Reduce -15.4%
CRM Salesforce Inc.	0.10%	37,872	$7.1M	Reduce -3.9%
KLAC KLA Corp.	0.10%	4,755	$7.0M	Reduce -7.2%
ALC Alcon Inc. filed as ALCON AG	0.10%	112,208	$6.6M	Reduce -1.8%
ABT Abbott Laboratories	0.10%	63,624	$6.5M	Reduce -0.8%
HEI Heico Corp.	0.09%	23,407	$6.4M	Add +31.3%
INCY Incyte Corp.	0.09%	66,451	$6.3M	Reduce -10.3%
STLA Stellantis NV	0.09%	964,571	$5.8M	Add +308.3%
SPGI S&P Global Inc.	0.08%	13,249	$5.6M	Reduce -2.9%
JNJ Johnson & Johnson	0.08%	22,693	$5.5M	Reduce -32.8%
UNP Union Pacific Corp.	0.08%	22,833	$5.5M	Reduce -11.6%
GILD Gilead Sciences Inc.	0.08%	37,990	$5.3M	Reduce -25.8%
AMGN Amgen Inc.	0.08%	14,960	$5.3M	Add +20.8%
NEM Newmont Corp.	0.07%	46,735	$5.1M	Reduce -34.5%
MA Mastercard Inc. Class A	0.07%	10,116	$5.1M	Reduce -27.8%
SUNB Sunbelt Rentals Holdings Inc.	0.07%	97,185	$4.6M	New
MDT Medtronic PLC	0.07%	52,877	$4.6M	Reduce -4.5%
HUBB Hubbell Inc.	0.06%	8,904	$4.4M	Add +0.4%
EOG EOG Resources Inc.	0.06%	29,130	$4.2M	No change
HD Home Depot Inc.	0.06%	12,778	$4.2M	Reduce -24.6%
MCO Moody's Corp.	0.06%	9,461	$4.1M	Add +2.7%
DNLI Denali Therapeutics Inc.	0.06%	207,130	$4.0M	Add +36.6%
NOW ServiceNow Inc.	0.06%	37,385	$3.9M	Reduce -39.9%
NDAQ Nasdaq Inc.	0.06%	45,399	$3.9M	Reduce -30.4%
AMD Advanced Micro Devices	0.06%	18,918	$3.8M	Reduce -37.0%
ADBE Adobe Inc.	0.05%	15,260	$3.7M	Reduce -12.2%
MDB Mongodb Inc.	0.05%	15,147	$3.7M	Add +2.2%
PWR Quanta Services Inc.	0.05%	6,448	$3.5M	New
SOLS Solstice Adv Materials Inc.	0.05%	46,068	$3.5M	Reduce -9.0%
PLD Prologis Inc.	0.05%	26,405	$3.5M	Add +4.0%
TT Trane Technologies PLC	0.05%	8,030	$3.3M	Reduce -10.8%
DB Deutsche Bank AG-Registered	0.05%	127,771	$3.2M	Reduce -13.5%
ANET Arista Networks Inc.	0.05%	26,049	$3.2M	Reduce -23.9%
CNI Canadian Natl Railway Co.	0.04%	21,083	$3.0M	Add +4.3%
STZ Constellation Brands Inc. Class A	0.04%	19,815	$3.0M	Add +25.4%
EMR Emerson Electric Co.	0.04%	22,360	$2.9M	Reduce -3.8%
AME Ametek Inc.	0.04%	12,234	$2.6M	Reduce -32.2%
WDC Western Digital Corp.	0.04%	9,595	$2.6M	Add +241.8%
ELV Elevance Health Inc.	0.04%	8,757	$2.6M	Add +4.0%
PLTR Palantir Technologies Inc. Class A	0.04%	17,465	$2.6M	Reduce -34.0%
CEG Constellation Energy	0.03%	8,438	$2.4M	Reduce -6.0%
ADSK Autodesk Inc.	0.03%	9,821	$2.4M	Reduce -0.1%
MCK McKesson Corp.	0.03%	2,589	$2.2M	Reduce -21.6%
MDLZ Mondelez International Inc. Class A	0.03%	37,964	$2.2M	Add +45.4%
HLT Hilton Worldwide Holdings Inc.	0.03%	6,838	$2.1M	Add +4.2%
MPC Marathon Petroleum Corp.	0.03%	8,435	$2.1M	Reduce -24.8%
KMI Kinder Morgan Inc.	0.03%	60,778	$2.0M	Reduce -29.8%
VZ Verizon Communications Inc.	0.03%	40,586	$2.0M	Reduce -29.1%
FTNT Fortinet Inc.	0.03%	23,701	$1.9M	New
AMAT Applied Materials Inc.	0.03%	5,595	$1.9M	Reduce -43.7%
MPWR Monolithic Power Systems Inc.	0.03%	1,742	$1.9M	Add +5.1%
GE General Electric filed as GE AEROSPACE	0.03%	6,611	$1.9M	Reduce -60.4%
PM Philip Morris International	0.03%	10,894	$1.8M	Reduce -47.5%
PFE Pfizer Inc.	0.03%	63,889	$1.8M	Reduce -21.8%
STLD Steel Dynamics Inc.	0.03%	9,955	$1.8M	No change
ADI Analog Devices Inc.	0.03%	5,433	$1.7M	Reduce -11.3%
BKNG Booking Holdings Inc.	0.02%	401	$1.7M	Reduce -27.5%
SCHW Schwab (charles) Corp.	0.02%	17,676	$1.7M	Reduce -48.5%
CMCSA Comcast Corp. Class A	0.02%	57,206	$1.6M	Reduce -46.6%
FCX Freeport-McMoran Inc.	0.02%	27,848	$1.6M	Reduce -29.3%
MO Altria Group Inc.	0.02%	24,579	$1.6M	Reduce -18.5%
BIIB Biogen Inc.	0.02%	8,753	$1.6M	Add +3.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.02%	6,451	$1.6M	Reduce -34.5%
DOC Healthpeak Properties Inc.	0.02%	94,973	$1.6M	Add +0.5%
DRI Darden Restaurants Inc.	0.02%	7,859	$1.5M	Add +10.7%
APH Amphenol Corp. Class A	0.02%	11,589	$1.5M	Reduce -53.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.02%	12,179	$1.4M	Add +35.8%
OKE Oneok Inc.	0.02%	15,840	$1.4M	Reduce -42.8%
ALL Allstate Corp.	0.02%	6,787	$1.4M	Reduce -40.1%
PSX Phillips 66	0.02%	7,713	$1.4M	Reduce -37.4%
MCD McDonald's Corp.	0.02%	4,492	$1.4M	Reduce -35.1%
CBRE CBRE Group Inc. Class A	0.02%	10,140	$1.4M	Reduce -23.9%
GS Goldman Sachs Group Inc.	0.02%	1,601	$1.4M	Add +41.4%
ETN Eaton Corp. PLC	0.02%	3,780	$1.4M	Reduce -30.4%
PCG P G & E Corp.	0.02%	76,284	$1.3M	Reduce -1.6%
EW Edwards Lifesciences Corp.	0.02%	16,690	$1.3M	New
TRGP Targa Resources Corp.	0.02%	5,191	$1.3M	Reduce -50.1%
HWM Howmet Aerospace Inc.	0.02%	5,647	$1.3M	Reduce -45.0%
PODD Insulet Corp.	0.02%	6,168	$1.3M	Reduce -1.3%
FDX FedEx Corp.	0.02%	3,554	$1.3M	Add +9.2%
VICI Vici Properties Inc. filed as VICI PPTYS INC	0.02%	46,183	$1.3M	Add +21.8%
INTC Intel Corp.	0.02%	28,419	$1.3M	Reduce -28.9%
RF Regions Financial Corp.	0.02%	47,814	$1.2M	Reduce -5.8%
PGR Progressive Corp.	0.02%	6,292	$1.2M	Reduce -38.6%
BMY Bristol-Myers Squibb Co.	0.02%	20,410	$1.2M	Reduce -27.9%
HIG Hartford Insurance Group Inc.	0.02%	8,711	$1.2M	Reduce -48.6%
ILMN Illumina Inc.	0.02%	9,545	$1.2M	Add +3.7%
KEY Keycorp	0.02%	58,465	$1.2M	Add +101.6%
PEP Pepsico Inc.	0.02%	7,497	$1.2M	Reduce -27.6%
BLK BlackRock Inc.	0.02%	1,208	$1.2M	Reduce -14.4%
PEG Public Service Enterprise GP	0.02%	13,983	$1.1M	Add +11.7%
GRMN Garmin Ltd.	0.02%	4,873	$1.1M	Add +139.8%
QCOM Qualcomm Inc.	0.02%	8,734	$1.1M	Reduce -32.7%
COF Capital One Financial Corp.	0.02%	6,143	$1.1M	Reduce -35.7%
LVS Las Vegas Sands Corp.	0.02%	20,418	$1.1M	Add +125.6%
WM Waste Management Inc.	0.02%	4,731	$1.1M	Add +74.9%
MMM 3M Co.	0.02%	7,457	$1.1M	Add +87.2%
ITUB Itau Unibanco H-Spon PRF ADR	0.02%	129,074	$1.1M	Reduce -6.6%
EBAY eBay Inc.	0.02%	11,873	$1.1M	Reduce -18.2%
KEYS Keysight Technologies Inc.	0.02%	3,800	$1.1M	Reduce -30.5%
INTU Intuit Inc.	0.02%	2,431	$1.1M	Reduce -31.4%
ACN Accenture PLC Class A	0.02%	5,231	$1.0M	Reduce -34.6%
ROST Ross Stores Inc.	0.01%	4,691	$1.0M	Add +85.4%
SSNC Ss&c Technologies Holdings	0.01%	14,809	$1.0M	Add +16.8%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	0.01%	9,906	$988K	Reduce -50.0%
EXC Exelon Corp.	0.01%	20,124	$986K	Add +5.4%
RSG Republic Services Inc.	0.01%	4,285	$939K	Add +4.2%
ADP Automatic Data Processing	0.01%	4,513	$917K	Reduce -49.2%
FITB Fifth Third Bancorp	0.01%	19,729	$917K	Reduce -12.8%
HST Host Hotels & Resorts Inc.	0.01%	47,769	$915K	Reduce -33.2%
INSM Insmed Inc.	0.01%	5,590	$914K	No change
USB US Bancorp	0.01%	17,543	$912K	New
SPOT Spotify Technology SA	0.01%	1,876	$910K	Reduce -39.5%
MNST Monster Beverage Corp.	0.01%	12,537	$908K	Reduce -55.0%
SBAC SBA Communications Corp.	0.01%	5,187	$893K	New
RGEN Repligen Corp.	0.01%	7,567	$892K	Add +1.8%
COR Cencora Inc.	0.01%	2,837	$891K	New
LOW Lowe's Cos Inc.	0.01%	3,728	$881K	Reduce -37.9%
UBER Uber Technologies Inc.	0.01%	12,153	$874K	New
CRWD CrowdStrike Holdings Inc. Class A	0.01%	2,227	$869K	Add +77.7%
CVS CVS Health Corp.	0.01%	12,083	$868K	Reduce -15.7%
ORLY O'reilly Automotive Inc.	0.01%	9,169	$846K	Reduce -19.1%
LDOS Leidos Holdings Inc.	0.01%	5,417	$842K	Reduce -7.2%
FRT Federal Realty Invs Trust	0.01%	7,908	$840K	Reduce -50.3%
MSCI MSCI Inc.	0.01%	1,558	$840K	Reduce -18.1%
CI The Cigna Group	0.01%	3,112	$830K	Add +0.3%
OSK Oshkosh Corp.	0.01%	5,636	$830K	Add +4.2%
NSC Norfolk Southern Corp.	0.01%	2,874	$825K	Add +76.1%
IEX Idex Corp.	0.01%	4,310	$817K	New
VRSN Verisign Inc.	0.01%	3,277	$814K	New
CFG Citizens Financial Group	0.01%	13,505	$810K	Reduce -56.8%
TXN Texas Instruments Inc.	0.01%	4,158	$807K	Reduce -51.5%
TSN Tyson Foods Inc. Class A	0.01%	12,562	$805K	Add +1.3%
TEL Te Connectivity PLC	0.01%	3,848	$804K	Reduce -16.8%
NUE Nucor Corp.	0.01%	4,603	$778K	Reduce -46.1%
IBKR Interactive Brokers Gro Class A	0.01%	11,437	$767K	Reduce -29.8%
TRV The Travelers Cos Inc.	0.01%	2,614	$762K	New
EIX Edison International	0.01%	10,407	$762K	Reduce -54.3%
OTIS Otis Worldwide Corp.	0.01%	9,848	$759K	Add +245.7%
ED Consolidated Edison Inc.	0.01%	6,692	$757K	Reduce -68.8%
GLW Corning Inc.	0.01%	5,560	$756K	Reduce -19.4%
AXON Axon Enterprise Inc.	0.01%	1,759	$747K	Add +110.9%
AMRZ Amrize Ltd.	0.01%	17,054	$743K	Reduce -41.0%
CTAS Cintas Corp.	0.01%	4,283	$724K	Add +224.0%
HOLX Hologic Inc.	0.01%	9,565	$723K	Reduce -31.5%
VMC Vulcan Materials Co.	0.01%	2,622	$714K	Add +1.0%
COP Conocophillips	0.01%	5,403	$713K	No change
GM General Motors Co.	0.01%	9,548	$711K	Add +22.5%
CNQ Canadian Natural Resources	0.01%	14,523	$708K	Reduce -38.8%
OC Owens Corning	0.01%	6,411	$694K	Add +4.2%
FER Ferrovial NV	0.01%	12,377	$686K	Add +4.2%
IR Ingersoll-Rand Inc.	0.01%	8,488	$680K	Add +4.2%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC	0.01%	9,174	$658K	Reduce -31.7%
PRU Prudential Financial Inc.	0.01%	6,696	$654K	Add +66.0%
VFC VF Corp.	0.01%	38,467	$654K	No change
MRSH Marsh & McLennan Cos	0.01%	3,766	$653K	Add +68.4%
DECK Deckers Outdoor Corp.	0.01%	6,348	$635K	Add +21.9%
ZBRA Zebra Technologies Corp. Class A	0.01%	3,027	$633K	Reduce -11.5%
FOX Fox Corp. Class B	0.01%	11,805	$627K	Reduce -24.5%
AVB Avalonbay Communities Inc.	0.01%	3,812	$623K	No change
PYPL PayPal Holdings Inc.	0.01%	13,748	$622K	Reduce -35.6%
UPS United Parcel Service Class B	0.01%	6,308	$621K	Add +33.0%
SNA Snap-on Inc.	0.01%	1,706	$620K	Reduce -10.4%
EME Emcor Group Inc.	0.01%	839	$619K	New
ERIE Erie Indemnity Company Class A	0.01%	2,459	$618K	New
DAL Delta Air Lines Inc.	0.01%	9,272	$616K	Reduce -43.0%
CPT Camden Property Trust	0.01%	6,298	$615K	Add +87.8%
TPL Texas Pacific Land Corp.	0.01%	1,296	$615K	Reduce -42.3%
SYY Sysco Corp.	0.01%	8,592	$613K	New
FOXA Fox Corp. Class A	0.01%	10,187	$595K	Reduce -28.0%
FIX Comfort Systems USA Inc.	0.01%	430	$593K	New
IDXX Idexx Laboratories Inc.	0.01%	1,052	$591K	Reduce -16.9%
NXPI NXP Semiconductors NV	0.01%	2,981	$587K	Reduce -15.1%
LYV Live Nation Entertainment Inc.	0.01%	3,770	$575K	Reduce -26.2%
APP AppLovin Corp. Class A	0.01%	1,438	$572K	New
UAL United Airlines Holdings Inc.	0.01%	6,112	$563K	Add +16.6%
RCL Royal Caribbean Cruises Ltd.	0.01%	2,013	$554K	Reduce -22.5%
ABNB Airbnb Inc. Class A	0.01%	4,380	$553K	Reduce -36.1%
ACGL Arch Capital Group Ltd.	0.01%	5,744	$551K	Add +3.4%
PNR Pentair PLC	0.01%	6,220	$542K	Add +60.1%
ZTS Zoetis Inc.	0.01%	4,567	$540K	Reduce -41.5%
WMB Williams Cos Inc.	0.01%	7,225	$526K	No change
BSY Bentley Systems Inc. Class B	0.01%	14,821	$521K	Add +38.0%
AZO AutoZone Inc.	0.01%	153	$517K	Add +16.8%
FMX Fomento Economico Mex-SP ADR	0.01%	4,614	$512K	Add +4.1%
DXCM Dexcom Inc.	0.01%	8,077	$507K	Reduce -12.4%
BG Bunge Global SA	0.01%	3,976	$506K	Add +26.4%
BA The Boeing Co.	0.01%	2,515	$501K	New
SYK Stryker Corp.	0.01%	1,490	$490K	Reduce -57.0%
ICE Intercontinental Exchange Inc.	0.01%	3,108	$489K	Reduce -26.4%
JAZZ Jazz Pharmaceuticals PLC	0.01%	2,576	$487K	No change
YUM Yum! Brands Inc.	0.01%	3,070	$477K	New
DELL Dell Technologies -C	0.01%	2,902	$476K	Add +2.6%
SHG Shinhan Financial Group-ADR	0.01%	7,764	$476K	Reduce -56.5%
NKE Nike Inc. Class B	0.01%	8,911	$471K	Reduce -23.2%
WAT Waters Corp.	0.01%	1,578	$470K	Add +145.4%
CF CF Industries Holdings Inc.	0.01%	3,588	$466K	Reduce -63.2%
GL Globe Life Inc.	0.01%	3,347	$466K	New
ALV Autoliv Inc.	0.01%	4,419	$465K	Reduce -14.1%
BX Blackstone Inc.	0.01%	3,962	$456K	New
CAH Cardinal Health Inc.	0.01%	2,081	$440K	Reduce -31.5%
CMI Cummins Inc.	0.01%	810	$436K	Reduce -68.2%
FICO Fair Isaac Corp.	0.01%	407	$434K	Reduce -19.7%
QGEN Qiagen N.V.	0.01%	12,500	$434K	New
BBY Best Buy Co. Inc.	0.01%	6,757	$434K	Reduce -42.7%
FIS Fidelity National Info Serv	0.01%	9,139	$429K	New
AVY Avery Dennison Corp.	0.01%	2,457	$424K	New
CTVA Corteva Inc.	0.01%	5,025	$421K	Reduce -71.9%
FLUT Flutter Entertainment PLC-Di	0.01%	5,413	$417K	Add +17.6%
AXP American Express Co.	0.01%	1,346	$407K	Add +21.9%
APD Air Products & Chemicals Inc.	0.01%	1,390	$404K	Add +2.5%
WAB Wabtec Corp.	0.01%	1,612	$403K	Reduce -87.6%
SNPS Synopsys Inc.	0.01%	1,001	$397K	Reduce -42.3%
AKAM Akamai Technologies Inc.	0.01%	3,383	$389K	Add +6.0%
ESS Essex Property Trust Inc.	0.01%	1,589	$385K	Reduce -3.8%
TPR Tapestry Inc.	0.01%	2,719	$384K	Reduce -59.3%
PKG Packaging Corp. of America	0.01%	1,800	$382K	Add +2.6%
ROK Rockwell Automation Inc.	0.01%	1,064	$382K	Reduce -28.7%
A Agilent Technologies Inc.	0.01%	3,330	$380K	Reduce -22.7%
ROL Rollins Inc.	0.01%	7,106	$380K	Add +4.8%
DDOG Datadog Inc. Class A	0.01%	3,185	$376K	Reduce -3.9%
NWSA News Corp. Class A	0.01%	14,697	$366K	Reduce -9.0%
CRL Charles River Laboratories	0.01%	2,121	$366K	Reduce -11.8%
WBD Warner Bros Discovery Inc.	0.01%	13,320	$366K	New
APTV Aptiv PLC	0.01%	5,227	$363K	Add +72.9%
KR Kroger Co.	0.01%	5,004	$362K	Reduce -21.9%
WDAY Workday Inc. Class A	0.01%	2,731	$355K	Reduce -21.9%
AMP Ameriprise Financial Inc.	0.01%	797	$354K	Add +2.6%
SPG Simon Property Group Inc.	0.01%	1,894	$353K	Add +2.5%
TFC Truist Financial Corp.	0.01%	7,480	$344K	Reduce -40.8%
NATL NCR Atleos Corp.	0.01%	7,851	$342K	No change
MKC McCormick & Co.-Non VTG SHRS	0.01%	6,750	$340K	No change
MOS The Mosaic Co.	0.01%	13,328	$340K	Reduce -55.1%
ALLE Allegion PLC	0.00%	2,227	$324K	Reduce -59.3%
SWKS Skyworks Solutions Inc.	0.00%	5,914	$317K	New
BR Broadridge Financial Solutio	0.00%	1,948	$317K	Reduce -69.9%
CINF Cincinnati Financial Corp.	0.00%	2,005	$315K	New
UDR Udr Inc.	0.00%	9,265	$313K	Add +2.6%
TSCO Tractor Supply Company	0.00%	6,684	$303K	Reduce -28.3%
LUV Southwest Airlines Co.	0.00%	7,920	$298K	Reduce -42.3%
FAST Fastenal Co.	0.00%	6,344	$294K	Reduce -77.7%
CAG Conagra Brands Inc.	0.00%	18,598	$292K	Reduce -11.2%
HPE Hewlett Packard Enterprise	0.00%	12,216	$291K	Reduce -42.3%
MTZ Mastec Inc.	0.00%	904	$291K	Reduce -8.0%
CARR Carrier Global Corp.	0.00%	5,154	$290K	Add +2.7%
CCJ Cameco Corp.	0.00%	1,819	$275K	Reduce -5.7%
TAP Molson Coors Beverage Co. Class B	0.00%	6,326	$272K	Reduce -19.9%
VRT Vertiv Holdings Co. Class A	0.00%	1,080	$271K	New
LULU Lululemon Athletica Inc.	0.00%	1,751	$268K	Add +47.0%
TER Teradyne Inc.	0.00%	904	$268K	Reduce -42.4%
WST West Pharmaceutical Services	0.00%	1,047	$262K	Reduce -31.6%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC	0.00%	2,893	$261K	Reduce -66.3%
HOOD Robinhood Markets Inc. Class A	0.00%	3,755	$260K	New
Q Qnity Electronics Inc.	0.00%	2,238	$258K	Reduce -76.2%
JBHT Hunt (jb) Transprt SVCS Inc.	0.00%	1,211	$257K	New
CLX Clorox Company	0.00%	2,422	$251K	Reduce -37.0%
CVNA Carvana Co.	0.00%	793	$249K	New
CTSH Cognizant Tech Solutions-A	0.00%	4,033	$247K	Reduce -42.3%
DASH DoorDash Inc. Class A	0.00%	1,591	$239K	Reduce -62.3%
HAS Hasbro Inc.	0.00%	2,494	$233K	Reduce -75.9%
CSGP Costar Group Inc.	0.00%	5,705	$230K	Reduce -42.3%
GIS General Mills Inc.	0.00%	6,123	$228K	Reduce -25.6%
INVH Invitation Homes Inc.	0.00%	9,100	$226K	Add +2.6%
ATR Aptargroup Inc.	0.00%	1,785	$225K	No change
CNC Centene Corp.	0.00%	6,706	$220K	Reduce -36.5%
EPAM Epam Systems Inc.	0.00%	1,593	$216K	Reduce -15.4%
RMD Resmed Inc.	0.00%	941	$211K	Reduce -62.0%
MTD Mettler-Toledo International	0.00%	167	$211K	New
CL Colgate-Palmolive Co.	0.00%	2,464	$210K	Reduce -90.5%
ES Eversource Energy	0.00%	3,020	$209K	Reduce -23.2%
VRSK Verisk Analytics Inc.	0.00%	1,098	$208K	Reduce -58.8%
CDW CDW Corp.	0.00%	1,713	$207K	New
DD Dupont DE Nemours Inc.	0.00%	4,477	$205K	Reduce -76.2%
GDDY GoDaddy Inc. Class A	0.00%	2,463	$204K	New
BDX Becton Dickinson and Co.	0.00%	1,275	$200K	Add +2.6%
TU Telus Corp.	0.00%	11,008	$197K	No change
MICC The Magnum Ice Cream Co. NV	0.00%	13,898	$177K	Reduce -60.8%
SUZ Suzano SA - Spon ADR	0.00%	17,247	$173K	Reduce -43.9%

Options reported separately and not counted above: TTE calls ($1.3M), GOOG calls ($214K), TECK RESOURCES LTD calls ($122K), TTE puts ($70K).

Other holdings (25): bonds, preferreds, convertibles and warrants · $45.8M (not counted above)

Security	Class	Shares / Principal	Value	Change
DATADOG INC (DDOG 0 12/01/29)	NOTE 12/0 · principal	7,367,000	$7.1M	Add +5.7%
DEXCOM INC (DXCM 0.375 05/15/28)	NOTE 0.375% 5/1 · principal	4,500,000	$4.1M	Add +12.5%
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30)	NOTE 2.875% 1/1 · principal	3,200,000	$3.5M	No change
PG&E CORP (PCG 4.25 12/01/27)	NOTE 4.250%12/0 · principal	2,850,000	$3.0M	No change
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	2,150,000	$3.0M	Add +12.1%
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26)	NOTE 3.625% 6/1 · principal	2,500,000	$2.5M	Add +13.6%
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	2,350,000	$2.2M	No change
SNOWFLAKE INC (SNOW 0 10/01/29)	NOTE 10/0 · principal	1,450,000	$1.8M	No change
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	1,800,000	$1.7M	Add +100.0%
MERITAGE HOMES CORP (MTH 1.75 05/15/28)	NOTE 1.750% 5/1 · principal	1,700,000	$1.6M	No change
LYFT INC (LYFT 0.625 03/01/29)	NOTE 0.625% 3/0 · principal	1,600,000	$1.6M	No change
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	1,500,000	$1.5M	Add +15.4%
NUTANIX INC (NTNX 0.5 12/15/29)	NOTE 0.500%12/1 · principal	1,500,000	$1.4M	Add +114.3%
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29)	NOTE 1.250%11/0 · principal	1,350,000	$1.4M	No change
TETRA TECH INC (TTEK 2.25 08/15/28)	DBCV 2.250% 8/1 · principal	1,250,000	$1.3M	No change
COINBASE GLOBAL INC (COIN 0.25 04/01/30)	NOTE 0.250% 4/0 · principal	1,350,000	$1.2M	No change
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	1,200,000	$1.2M	No change
CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30)	NOTE 2.000% 3/1 · principal	1,050,000	$1.1M	New
ARROWHEAD RESEARCH CORP (ARWR 0 01/15/32)	NOTE 1/1 · principal	1,000,000	$991K	New
VARONIS SYSTEM INC (VRNS 1 09/15/29)	NOTE 1.000% 9/1 · principal	1,000,000	$871K	Reduce -39.4%
UPWORK INC (UPWK 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	700,000	$688K	No change
MARA HOLDINGS INC (MARA 0 03/01/30)	NOTE 3/0 · principal	750,000	$662K	No change
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27)	NOTE 2.625%12/1 · principal	400,000	$482K	No change
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	500,000	$477K	No change
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30)	NOTE 0.750% 6/0 · principal	400,000	$397K	No change

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

Portfolio Sells Q4 2025 → Q1 2026


MSFT Microsoft Corp.	Reduce -1.2%	5.69%	−1.86
TMUS T-Mobile US Inc.	Reduce -88.1%	0.12%	−0.87
CYBR Cyberark Software Ltd./Israel	Sold out	0.00%	−0.86
NVDA Nvidia Corp.	Reduce -1.8%	6.01%	−0.57
AVGO Broadcom Inc.	Reduce -1.4%	3.89%	−0.54
AAPL Apple Inc.	Reduce -2.7%	4.58%	−0.49
JPM JPMorgan Chase & Co.	Reduce -3.5%	3.17%	−0.45
TMO Thermo Fisher Scientific Inc.	Reduce -2.5%	1.94%	−0.42
HUBS HubSpot Inc.	Sold out	0.00%	−0.38
META Meta Platforms Inc. Class A	Reduce -3.5%	1.63%	−0.33
LLY Eli Lilly & Co.	Reduce -2.2%	1.29%	−0.25
BAC Bank of America Corp.	Reduce -54.5%	0.14%	−0.21
TSLA Tesla Inc.	Reduce -9.4%	0.54%	−0.18
RACE Ferrari NV	Reduce -27.7%	0.32%	−0.17
GOOG Alphabet Inc. Class C	Reduce -23.4%	0.32%	−0.13
MET Metlife Inc.	Reduce -2.8%	0.74%	−0.11
AEM Agnico Eagle Mines Ltd.	Reduce -19.8%	2.74%	−0.11
ORCL Oracle Corp.	Reduce -6.7%	0.26%	−0.11
URI United Rentals Inc.	Reduce -0.6%	0.90%	−0.11
DIS The Walt Disney Co.	Reduce -5.2%	0.36%	−0.09
NOW ServiceNow Inc.	Reduce -39.9%	0.06%	−0.08
PNC PNC Financial Services Group	Reduce -9.3%	0.69%	−0.08
BRK.B Berkshire Hathaway Inc. Class B	Reduce -13.1%	0.35%	−0.07
UNH Unitedhealth Group Inc.	Reduce -4.0%	0.23%	−0.06
XYL Xylem Inc.	Sold out	0.00%	−0.05
CRM Salesforce Inc.	Reduce -3.9%	0.10%	−0.05
GE General Electric	Reduce -60.4%	0.03%	−0.05
MA Mastercard Inc. Class A	Reduce -27.8%	0.07%	−0.04
ABBV Abbvie Inc.	Reduce -2.3%	0.50%	−0.04
C Citigroup Inc.	Reduce -1.4%	0.79%	−0.04
NDAQ Nasdaq Inc.	Reduce -30.4%	0.06%	−0.04
AMD Advanced Micro Devices	Reduce -37.0%	0.06%	−0.04
ADBE Adobe Inc.	Reduce -12.2%	0.05%	−0.04
WAB Wabtec Corp.	Reduce -87.6%	0.01%	−0.04
PLTR Palantir Technologies Inc. Class A	Reduce -34.0%	0.04%	−0.03
CRH CRH PLC	Reduce -6.7%	0.11%	−0.03
NEM Newmont Corp.	Reduce -34.5%	0.07%	−0.03
APH Amphenol Corp. Class A	Reduce -53.6%	0.02%	−0.03
DOV Dover Corp.	Sold out	0.00%	−0.03
CL Colgate-Palmolive Co.	Reduce -90.5%	0.00%	−0.03
SCHW Schwab (charles) Corp.	Reduce -48.5%	0.02%	−0.03
PFG Principal Financial Group	Sold out	0.00%	−0.03
PG The Procter & Gamble Co.	Reduce -2.5%	1.12%	−0.03
DB Deutsche Bank AG-Registered	Reduce -13.5%	0.05%	−0.03
HD Home Depot Inc.	Reduce -24.6%	0.06%	−0.02
L Loews Corp.	Sold out	0.00%	−0.02
BNTX Biontech SE-ADR	Reduce -2.1%	0.24%	−0.02
CMCSA Comcast Corp. Class A	Reduce -46.6%	0.02%	−0.02
ABT Abbott Laboratories	Reduce -0.8%	0.10%	−0.02
PM Philip Morris International	Reduce -47.5%	0.03%	−0.02

Portfolio Buys Q4 2025 → Q1 2026


RTX RTX Corp.	New	2.38%	+2.38
AZN Astrazeneca PLC	New	1.87%	+1.87
T AT&T Inc.	Add +411.6%	0.79%	+0.66
PANW Palo Alto Networks Inc.	Add +123.6%	1.27%	+0.62
XPO Xpo Inc.	Add +0.7%	1.87%	+0.57
BKR Baker Hughes Co.	Add +0.6%	1.74%	+0.44
HAL Halliburton Co.	Add +10.1%	1.23%	+0.41
GEV GE Vernova Inc.	Add +2.0%	1.54%	+0.40
VLO Valero Energy Corp.	Add +34.7%	0.77%	+0.39
NFLX Netflix Inc.	Add +422.7%	0.44%	+0.36
MSI Motorola Solutions Inc.	Add +0.7%	2.79%	+0.33
FNV Franco-Nevada Corp.	Add +26.9%	0.85%	+0.29
ETR Entergy Corp.	Add +5.1%	1.15%	+0.25
CME Cme Group Inc.	Add +16.2%	1.17%	+0.23
NEE Nextera Energy Inc.	Add +3.5%	1.06%	+0.17
PH Parker Hannifin Corp.	Add +5.3%	2.30%	+0.14
LRCX Lam Research Corp.	Add +18.9%	0.43%	+0.14
EQIX Equinix Inc.	Add +3.3%	0.50%	+0.12
CP Canadian Pacific Kansas City	Add +50.7%	0.22%	+0.08
SUNB Sunbelt Rentals Holdings Inc.	New	0.07%	+0.07
AGI Alamos Gold Inc. Class A	Add +9.9%	0.33%	+0.07
COST Costco Wholesale Corp.	Add +11.7%	0.29%	+0.06
STLA Stellantis NV	Add +308.3%	0.09%	+0.05
SCI Service Corp. International	Add +28.6%	0.20%	+0.05
PWR Quanta Services Inc.	New	0.05%	+0.05
UBS UBS Group AG-Reg	Add +87.9%	0.13%	+0.05
ECL Ecolab Inc.	Add +28.9%	0.18%	+0.04
WTS Watts Water Technologies-A	Add +7.7%	0.35%	+0.04
LIN Linde PLC	Add +8.5%	0.17%	+0.03
WDC Western Digital Corp.	Add +241.8%	0.04%	+0.03
FTNT Fortinet Inc.	New	0.03%	+0.03
ORLA Orla Mining Ltd.	Add +2.3%	0.15%	+0.03
CSCO Cisco Systems Inc.	Add +15.5%	0.17%	+0.02
WPM Wheaton Precious Metals Corp.	Add +10.2%	0.12%	+0.02
DNLI Denali Therapeutics Inc.	Add +36.6%	0.06%	+0.02
WBS Webster Financial Corp.	Add +4.9%	0.15%	+0.02
EW Edwards Lifesciences Corp.	New	0.02%	+0.02
AMGN Amgen Inc.	Add +20.8%	0.08%	+0.02
IONS Ionis Pharmaceuticals Inc.	Add +7.5%	0.91%	+0.01
USB US Bancorp	New	0.01%	+0.01
COR Cencora Inc.	New	0.01%	+0.01
SBAC SBA Communications Corp.	New	0.01%	+0.01
HCA HCA Healthcare Inc.	Add +5.3%	0.22%	+0.01
UBER Uber Technologies Inc.	New	0.01%	+0.01
IEX Idex Corp.	New	0.01%	+0.01
VRSN Verisign Inc.	New	0.01%	+0.01
STZ Constellation Brands Inc. Class A	Add +25.4%	0.04%	+0.01
MDLZ Mondelez International Inc. Class A	Add +45.4%	0.03%	+0.01
TRV The Travelers Cos Inc.	New	0.01%	+0.01
GRMN Garmin Ltd.	Add +139.8%	0.02%	+0.01

Options Activity Q4 2025 → Q1 2026


TTE Totalenergies SE	call	Reduce -53.1%	68,340	$1.3M
TECK Teck Resources Ltd.-CLS B	call	Sold out	25,000	$238Kbefore exit
GOOG Alphabet Inc. Class C	call	New	8,600	$214K
COIN Coinbase Global Inc. Class A	put	Sold out	6,000	$187Kbefore exit
TECK RESOURCES LTD	call	New	33,000	$122K
TTE Totalenergies SE	put	New	45,900	$70K
PANW Palo Alto Networks Inc.	call	Sold out	7,500	$20Kbefore exit
SCHW Schwab (charles) Corp.	put	Sold out	12,000	$17Kbefore exit

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

Notes & Other Activity Q4 2025 → Q1 2026


DATADOG INC (DDOG 0 12/01/29)	NOTE 12/0 · principal	Add +5.7%	7,367,000	$7.1M
DEXCOM INC (DXCM 0.375 05/15/28)	NOTE 0.375% 5/1 · principal	Add +12.5%	4,500,000	$4.1M
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	Sold out	3,500,000	$3.5Mbefore exit
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	Add +12.1%	2,150,000	$3.0M
BILL HOLDINGS INC (BILL 0 04/01/30)	NOTE 4/0 · principal	Sold out	3,100,000	$2.9Mbefore exit
FORD MOTOR COMPANY (F 0 03/15/26)	NOTE 3/1 · principal	Sold out	2,550,000	$2.7Mbefore exit
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28)	NOTE 1.000% 8/1 · principal	Sold out	2,000,000	$2.7Mbefore exit
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26)	NOTE 3.625% 6/1 · principal	Add +13.6%	2,500,000	$2.5M
AXON ENTERPRISE INC (AXON 0.5 12/15/27)	NOTE 0.500%12/1 · principal	Sold out	750,000	$1.9Mbefore exit
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	Add +100.0%	1,800,000	$1.7M
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	Sold out	1,150,000	$1.6Mbefore exit
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	Add +15.4%	1,500,000	$1.5M
NUTANIX INC (NTNX 0.5 12/15/29)	NOTE 0.500%12/1 · principal	Add +114.3%	1,500,000	$1.4M
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27)	NOTE 2.500% 7/1 · principal	Sold out	800,000	$1.1Mbefore exit
CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30)	NOTE 2.000% 3/1 · principal	New	1,050,000	$1.1M
ARROWHEAD RESEARCH CORP (ARWR 0 01/15/32)	NOTE 1/1 · principal	New	1,000,000	$991K
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	Sold out	700,000	$987Kbefore exit
VARONIS SYSTEM INC (VRNS 1 09/15/29)	NOTE 1.000% 9/1 · principal	Reduce -39.4%	1,000,000	$871K
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	Sold out	700,000	$790Kbefore exit
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27)	NOTE 0.500% 8/0 · principal	Sold out	650,000	$631Kbefore exit
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29)	NOTE 0.750%12/1 · principal	Sold out	550,000	$615Kbefore exit
WORKIVA INC (WK 1.25 08/15/28)	NOTE 1.250% 8/1 · principal	Sold out	350,000	$347Kbefore exit
PG&E CORP (PCG 6 12/01/27 A)	PFD CONV SER A · principal	Sold out	17,850	$7Kbefore exit

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