Groupe la Francaise

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Groupe la Francaise reported 416 stock positions worth $4.7 billion. Its top holding was Microsoft (MSFT) at 7.0% of the portfolio, followed by Nvidia (NVDA, 5.5%) and Ferrari (RACE, 5.1%). Compared with Q4 2024, it opened 113 new positions, sold out of 30, added to 162 and reduced 106. The biggest buy was a new position in Ferrari (RACE) and the biggest sale Alphabet Class A (GOOGL, shares −37%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0002056088
Portfolio Value
$4.7B (Q1 2025)
SEC Filing
0000945621-25-000477 ↗ filed May 14, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q4 2024: $4.0B Q4 2024 Q1 2025: $4.7B $4.7B Q1 2025 Q2 2025: $6.1B Q2 2025 Q3 2025: $7.3B Q3 2025 Q4 2025: $6.8B Q4 2025 Q1 2026: $7.1B Q1 2026 Q2 2026: $8.1B Q2 2026

Holdings 416 stocks · $4.7B

MSFT Microsoft Corp. 6.98% 839,603 $326.7M Add +7.6%
NVDA Nvidia Corp. 5.47% 2,292,981 $256.1M Add +18.8%
RACE Ferrari NV 5.10% 561,054 $238.8M New
AMZN Amazon.com Inc. 4.58% 1,070,907 $214.2M Reduce -0.8%
AAPL Apple Inc. 4.31% 910,250 $201.7M Add +5.6%
GIB Cgi Inc. 3.37% 1,587,712 $157.6M Add +3.1%
META Meta Platforms Inc. Class A 2.59% 201,791 $121.4M Reduce -3.4%
JPM JPMorgan Chase & Co. 2.30% 437,334 $107.9M Add +19.0%
V Visa Inc. Class A 2.27% 305,233 $106.1M Add +35.0%
CRH CRH PLC 2.14% 1,154,803 $100.0M Add +86.5%
LIN Linde PLC 2.07% 210,199 $96.8M Add +13.0%
AVGO Broadcom Inc. 2.02% 542,490 $94.6M Add +34.5%
LLY Eli Lilly & Co. 1.90% 108,479 $89.0M Reduce -2.6%
GOOGL Alphabet Inc. Class A 1.89% 548,282 $88.3M Reduce -37.1%
NFLX Netflix Inc. 1.72% 82,445 $80.5M Add +119.3%
ETN Eaton Corp. PLC 1.70% 290,345 $79.6M Add +122.7%
COST Costco Wholesale Corp. 1.44% 71,923 $67.5M Add +9.2%
WMT Walmart Inc. 1.41% 773,083 $66.2M Add +27.2%
GOOG Alphabet Inc. Class C 1.35% 383,368 $63.2M New
STLA Stellantis NV 1.33% 5,365,212 $62.1M New
TSM Taiwan Semiconductor-SP ADR 1.21% 334,259 $56.5M Add +7.3%
ACN Accenture PLC Class A 1.15% 185,292 $54.0M Add +183.2%
GE General Electric filed as GE AEROSPACE 1.07% 243,792 $50.2M Reduce -0.7%
MA Mastercard Inc. Class A 1.07% 89,642 $49.9M Add +9.2%
KO The Coca-Cola Co. 1.03% 689,037 $48.2M Reduce -3.0%
AXP American Express Co. 0.96% 166,370 $45.0M Add +36.2%
TMUS T-Mobile US Inc. 0.95% 165,644 $44.3M Reduce -46.0%
CRM Salesforce Inc. 0.94% 158,797 $44.0M Add +25.1%
BKNG Booking Holdings Inc. 0.93% 9,180 $43.6M Add +39.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.87% 956,377 $40.6M Add +4.8%
ORCL Oracle Corp. 0.86% 275,157 $40.1M Add +84.0%
ISRG Intuitive Surgical Inc. 0.80% 73,945 $37.5M Add +42.4%
CB Chubb Ltd. 0.79% 124,635 $37.2M New
NOW ServiceNow Inc. 0.77% 43,292 $36.0M Add +3.1%
PANW Palo Alto Networks Inc. 0.76% 200,266 $35.4M Add +2.3%
UBER Uber Technologies Inc. 0.75% 468,015 $35.0M Reduce -2.2%
BSX Boston Scientific Corp. 0.72% 335,082 $33.6M Add +13.1%
MELI MercadoLibre Inc. 0.70% 15,583 $32.7M Reduce -16.4%
TMO Thermo Fisher Scientific Inc. 0.69% 63,793 $32.2M Reduce -2.4%
BABA Alibaba Group Holding-SP ADR 0.57% 197,992 $26.8M Add +6.8%
HLT Hilton Worldwide Holdings Inc. 0.53% 106,974 $24.6M Add +15.5%
BLK BlackRock Inc. 0.46% 23,239 $21.6M Reduce -99.1%
GEV GE Vernova Inc. 0.46% 70,292 $21.3M Add +110.3%
FISV Fiserv Inc. 0.40% 84,578 $18.6M Add +26.3%
MCD McDonald's Corp. 0.36% 55,990 $16.9M Add +17.9%
MSI Motorola Solutions Inc. 0.36% 38,917 $16.8M Reduce -10.9%
AEM Agnico Eagle Mines Ltd. 0.36% 155,851 $16.7M Add +8.9%
SNPS Synopsys Inc. 0.34% 35,945 $16.1M Reduce -7.4%
WM Waste Management Inc. 0.34% 70,957 $16.0M Add +14.6%
DB Deutsche Bank AG-Registered 0.32% 608,396 $15.0M New
TCOM Trip.com Group Ltd.-ADR 0.32% 227,386 $14.8M Reduce -13.2%
PG The Procter & Gamble Co. 0.32% 88,189 $14.8M Reduce -4.9%
UNH Unitedhealth Group Inc. 0.31% 28,198 $14.5M Reduce -4.4%
RL Ralph Lauren Corp. 0.29% 60,741 $13.7M Add +7.9%
SPOT Spotify Technology SA 0.28% 23,169 $13.3M New
FNV Franco-Nevada Corp. 0.26% 78,500 $12.3M Add +16.3%
KLAC KLA Corp. 0.26% 17,391 $12.1M Reduce -17.8%
CMG Chipotle Mexican Grill Inc. 0.25% 229,623 $11.7M Reduce -42.8%
ITCI Intra-Cellular Therapies Inc. 0.25% 88,438 $11.7M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.25% 96,368 $11.6M Add +43.3%
NKE Nike Inc. Class B 0.25% 175,692 $11.5M Add +206.1%
ONON On Holding AG Class A filed as ON HLDG AG 0.24% 248,837 $11.4M New
WELL Welltower Inc. 0.24% 75,908 $11.4M Add +10.8%
YUMC Yum China Holdings Inc. 0.23% 206,117 $11.0M Add +215.1%
NEM Newmont Corp. 0.23% 225,500 $10.9M Add +7.5%
HWM Howmet Aerospace Inc. 0.23% 81,570 $10.8M Add +25.9%
CRWD CrowdStrike Holdings Inc. Class A 0.23% 29,098 $10.7M Reduce -17.1%
EMR Emerson Electric Co. 0.23% 94,967 $10.6M Add +16.4%
APH Amphenol Corp. Class A 0.22% 148,362 $10.1M Add +14.1%
AGI Alamos Gold Inc. Class A 0.21% 377,000 $10.0M Add +1.9%
DESP Despegar.com Corp. 0.21% 515,000 $9.7M New
CDNS Cadence Design SYS Inc. 0.20% 36,075 $9.5M Add +7.3%
AWK American Water Works Co. Inc. 0.20% 66,958 $9.4M Reduce -16.0%
PRU Prudential Financial Inc. 0.20% 81,986 $9.4M Add +14.2%
DECK Deckers Outdoor Corp. 0.20% 78,604 $9.2M Reduce -29.0%
KGC Kinross Gold Corp. 0.19% 725,000 $9.0M Reduce -3.3%
PWR Quanta Services Inc. 0.19% 34,457 $8.8M Add +187.4%
VRT Vertiv Holdings Co. Class A 0.19% 111,794 $8.8M New
TT Trane Technologies PLC 0.19% 26,371 $8.7M Add +283.9%
PH Parker Hannifin Corp. 0.18% 13,504 $8.5M Add +82.6%
CL Colgate-Palmolive Co. 0.17% 89,835 $8.1M Reduce -3.8%
AMP Ameriprise Financial Inc. 0.17% 15,834 $7.9M Add +14.0%
XYL Xylem Inc. 0.17% 64,909 $7.9M Reduce -19.2%
ADI Analog Devices Inc. 0.17% 37,558 $7.8M Reduce -16.4%
MRSH Marsh & McLennan Cos 0.17% 32,164 $7.8M Add +12.0%
ANET Arista Networks Inc. 0.17% 99,034 $7.8M Add +83.2%
OKE Oneok Inc. 0.16% 77,949 $7.7M Add +7.9%
TRGP Targa Resources Corp. 0.16% 38,266 $7.6M Add +8.9%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.16% 800,000 $7.4M No change
FSLR First Solar Inc. 0.16% 58,330 $7.4M Reduce -6.0%
RSG Republic Services Inc. 0.16% 30,804 $7.3M Reduce -26.9%
AMD Advanced Micro Devices 0.15% 66,016 $7.0M Reduce -28.6%
B Barrick Gold Corp. 0.15% 508,889 $7.0M Add +20.4%
TXN Texas Instruments Inc. 0.15% 38,388 $6.9M Add +10.5%
WAB Wabtec Corp. 0.15% 36,547 $6.8M Add +14.8%
FER Ferrovial NV 0.15% 150,200 $6.8M New
TRV The Travelers Cos Inc. 0.14% 25,716 $6.8M Add +11.3%
FTV Fortive Corp. 0.14% 90,102 $6.7M Add +14.0%
NGD New Gold Inc. 0.14% 1,850,000 $6.6M Add +2.8%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.14% 595,883 $6.6M Reduce -4.2%
PYCR Paycor HCM Inc. 0.14% 291,372 $6.5M New
DE Deere & Co. 0.14% 13,591 $6.5M Add +4.8%
PLYA Playa Hotels & Resorts NV 0.14% 481,998 $6.4M New
DDOG Datadog Inc. Class A 0.13% 59,838 $6.3M New
SPGI S&P Global Inc. 0.13% 12,168 $6.2M Add +7.1%
MRK Merck & Co. Inc. 0.13% 70,404 $6.2M Reduce -62.9%
MMYT Makemytrip Ltd. 0.13% 57,248 $6.1M New
HD Home Depot Inc. 0.13% 16,512 $6.0M Add +9.6%
ITW Illinois Tool Works 0.13% 23,541 $5.9M Add +11.6%
GFI Gold Fields Ltd.-Spons ADR 0.13% 280,000 $5.9M Add +27.3%
XYZ Block Inc. 0.12% 102,588 $5.8M Add +64.3%
INTU Intuit Inc. 0.12% 9,482 $5.8M Reduce -30.8%
QGEN Qiagen N.V. 0.12% 144,691 $5.8M New
VLTO Veralto Corp. 0.12% 58,096 $5.7M Reduce -7.9%
SPG Simon Property Group Inc. 0.12% 34,000 $5.6M Add +12.5%
GS Goldman Sachs Group Inc. 0.12% 9,955 $5.6M Add +8408.5%
K Kellanova 0.12% 67,315 $5.6M Add +288.8%
DHR Danaher Corp. 0.12% 26,085 $5.5M Reduce -19.3%
FTNT Fortinet Inc. 0.12% 54,751 $5.4M Add +19.8%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.12% 170,097 $5.4M Add +11.9%
CAT Caterpillar Inc. 0.11% 15,968 $5.4M Add +7.0%
CHD Church & Dwight Co. Inc. 0.11% 49,103 $5.3M Add +13.5%
VRSK Verisk Analytics Inc. 0.11% 17,793 $5.3M Add +13.8%
ADP Automatic Data Processing 0.11% 17,126 $5.2M Add +11.3%
AVB Avalonbay Communities Inc. 0.11% 24,536 $5.2M Add +13.2%
CCEP Coca-Cola Europacific Partne 0.11% 60,311 $5.2M New
PEG Public Service Enterprise GP 0.11% 64,146 $5.2M Add +13.6%
ESGR Enstar Group Ltd. 0.11% 14,928 $5.0M New
EVRI Everi Holdings Inc. 0.11% 362,565 $5.0M New
LNG Cheniere Energy Inc. 0.11% 21,761 $4.9M Reduce -2.3%
ADSK Autodesk Inc. 0.11% 18,270 $4.9M Add +14.2%
REGN Regeneron Pharmaceuticals 0.11% 8,027 $4.9M Reduce -50.0%
KEYS Keysight Technologies Inc. 0.10% 31,486 $4.9M Add +15.1%
AER Aercap Holdings NV 0.10% 47,477 $4.9M New
JNPR Juniper Networks Inc. 0.10% 132,721 $4.8M New
TSCO Tractor Supply Company 0.10% 88,405 $4.8M Add +20.1%
MSCI MSCI Inc. 0.10% 8,436 $4.8M Reduce -97.9%
TRMB Trimble Inc. 0.10% 70,044 $4.8M Add +13.6%
FYBR Frontier Communications Pare 0.10% 131,801 $4.7M New
EQX Equinox Gold Corp. 0.10% 670,000 $4.7M Add +3.1%
BR Broadridge Financial Solutio 0.10% 19,341 $4.6M Add +14.7%
NDAQ Nasdaq Inc. 0.10% 59,451 $4.5M Add +15.1%
OTIS Otis Worldwide Corp. 0.10% 43,418 $4.5M Add +14.2%
FAST Fastenal Co. 0.09% 56,538 $4.4M Add +15.6%
ANSS Ansys Inc. 0.09% 13,370 $4.3M Add +17.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 42,415 $4.2M Add +4.8%
NTRS Northern Trust Corp. 0.09% 41,593 $4.2M Add +16.3%
FSM Fortuna Mining Corp. 0.09% 665,000 $4.1M Add +2.3%
AGS Playags Inc. 0.09% 332,629 $4.0M New
FCX Freeport-McMoran Inc. 0.09% 100,000 $4.0M Add +5.3%
PFE Pfizer Inc. 0.08% 162,213 $4.0M Add +13.5%
BEP Brookfield Renewable Partner 0.08% 162,557 $4.0M Add +20.9%
AMAT Applied Materials Inc. 0.08% 26,671 $3.9M Add +28.4%
PAYX Paychex Inc. 0.08% 25,922 $3.9M Add +15.7%
BXP BXP Inc. 0.08% 56,533 $3.9M Add +17.0%
FNA Paragon 28 Inc. 0.08% 295,590 $3.9M New
A Agilent Technologies Inc. 0.08% 32,263 $3.8M Add +13.7%
ABBV Abbvie Inc. 0.08% 18,910 $3.8M Add +14.2%
PYPL PayPal Holdings Inc. 0.08% 55,580 $3.8M Add +6778.7%
PDCO Patterson Cos Inc. 0.08% 122,435 $3.8M New
DNB Dun & Bradstreet Holdings Inc. 0.08% 424,580 $3.8M New
ITRI Itron Inc. 0.08% 35,725 $3.8M Add +352.4%
PLD Prologis Inc. 0.08% 33,671 $3.7M Reduce -16.3%
SYK Stryker Corp. 0.08% 10,007 $3.7M Add +138.0%
EA Electronic Arts Inc. 0.08% 25,244 $3.7M Add +4.7%
SRDX Surmodics Inc. 0.08% 119,500 $3.6M New
JNJ Johnson & Johnson 0.08% 22,404 $3.6M Reduce -53.6%
SKE Skeena Resources Ltd. 0.08% 350,000 $3.6M Reduce -12.5%
CGAU Centerra Gold Inc. 0.08% 560,000 $3.6M Add +1.8%
IBN Icici Bank Ltd.-Spon ADR 0.08% 113,816 $3.6M No change
IAG Iamgold Corp. 0.07% 550,000 $3.5M No change
SGRY Surgery Partners Inc. 0.07% 146,999 $3.5M New
ALL Allstate Corp. 0.07% 16,501 $3.5M Add +9.9%
ELS Equity Lifestyle Properties 0.07% 52,067 $3.4M Add +10.6%
NXT Nextpower Inc. filed as NEXTRACKER INC 0.07% 79,639 $3.4M Reduce -35.8%
CKPT Checkpoint Therapeutics Inc. 0.07% 840,000 $3.4M New
RGLD Royal Gold Inc. 0.07% 20,000 $3.2M Add +2.6%
LRCX Lam Research Corp. 0.07% 42,954 $3.2M Add +855.8%
PFG Principal Financial Group 0.07% 37,705 $3.2M Add +15.8%
PEP Pepsico Inc. 0.07% 21,421 $3.2M Reduce -54.9%
VRTX Vertex Pharmaceuticals Inc. 0.07% 6,364 $3.2M Add +13.2%
FERG Ferguson Enterprises Inc. 0.07% 19,615 $3.2M Add +19.6%
PAAS Pan American Silver Corp. 0.07% 172,524 $3.2M Add +8.7%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.07% 26,621 $3.1M Add +62.8%
EQIX Equinix Inc. 0.07% 3,762 $3.1M Add +13.2%
STE Steris PLC 0.07% 13,834 $3.1M Add +15.4%
NEE Nextera Energy Inc. 0.07% 44,898 $3.1M Reduce -49.8%
STX Seagate Technology Holdings 0.07% 34,983 $3.1M Add +3774.1%
ADBE Adobe Inc. 0.07% 7,729 $3.1M Reduce -51.5%
ZTS Zoetis Inc. 0.06% 19,268 $3.0M Add +131.6%
BF.B Brown-Forman Corp. Class B 0.06% 86,967 $3.0M Add +57.2%
TFC Truist Financial Corp. 0.06% 71,697 $3.0M Add +8.0%
DLR Digital Realty Trust Inc. 0.06% 20,419 $3.0M Add +15.9%
S Sentinelone Inc. Class A 0.06% 145,870 $2.9M Add +8.4%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.06% 37,800 $2.9M No change
ALLE Allegion PLC 0.06% 22,226 $2.9M Add +3.4%
GB Global Blue Group Holding AG 0.06% 389,400 $2.9M New
BALL Ball Corp. 0.06% 55,506 $2.9M Reduce -1.8%
SSRM SSR Mining Inc. 0.06% 255,000 $2.8M Add +2.0%
DXCM Dexcom Inc. 0.06% 40,846 $2.8M Add +8.8%
ARM Arm Holdings PLC-ADR 0.06% 24,642 $2.8M Add +34.4%
IDXX Idexx Laboratories Inc. 0.06% 6,546 $2.8M Add +12.6%
AMED Amedisys Inc. 0.06% 29,649 $2.7M New
UBS UBS Group AG-Reg 0.06% 85,653 $2.7M New
NVRO Nevro LLC filed as NEVRO CORP 0.06% 465,237 $2.7M New
PTVE Pactiv Evergreen Inc. 0.06% 150,000 $2.7M New
SWKS Skyworks Solutions Inc. 0.06% 40,193 $2.7M Add +63.5%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.06% 2,669 $2.6M Add +36.9%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.06% 39,171 $2.6M Add +114.5%
BTG B2GOLD Corp. 0.06% 820,000 $2.6M Add +17.1%
CEG Constellation Energy 0.05% 12,171 $2.6M Reduce -28.2%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.05% 32,517 $2.5M Add +20.3%
APTV Aptiv PLC 0.05% 40,543 $2.5M New
FFNW First Financial Northwest 0.05% 109,382 $2.5M New
GFL GFL Environmental Inc.-Sub VT 0.05% 38,879 $2.4M Reduce -64.0%
TSVT 2SEVENTY Bio Inc. 0.05% 480,000 $2.4M New
AMPS Altus Power Inc. 0.05% 479,818 $2.4M New
MU Micron Technology Inc. 0.05% 25,477 $2.3M New
GAN Gan Ltd. 0.05% 1,295,391 $2.3M New
HPQ HP Inc. 0.05% 79,671 $2.3M New
CMRX Chimerix Inc. 0.05% 255,000 $2.2M New
WY Weyerhaeuser Co. 0.05% 72,932 $2.2M No change
VZ Verizon Communications Inc. 0.05% 47,641 $2.1M Reduce -74.8%
ML Moneylion Inc. 0.04% 24,000 $2.1M New
EXK Endeavour Silver Corp. 0.04% 450,000 $2.0M Add +28.6%
CDE Coeur Mining Inc. 0.04% 320,000 $2.0M Add +6.7%
SRG Seritage Growth Prop- A 0.04% 619,871 $2.0M New
CSL Carlisle Cos Inc. 0.04% 5,704 $2.0M Add +48.7%
MTW Manitowoc Company Inc. 0.04% 212,999 $2.0M No change
OPTINOSE INC 0.04% 207,000 $1.9M New
RNW Renew Energy Global PLC-A 0.04% 316,309 $1.9M New
TGI Triumph Group Inc. 0.04% 71,999 $1.8M New
LNSR Lensar Inc. 0.04% 126,000 $1.8M New
UPS United Parcel Service Class B 0.04% 16,050 $1.8M Reduce -15.4%
CNL Collective Mining Ltd. 0.04% 200,000 $1.7M New
GRFS Grifols SA-ADR 0.04% 238,928 $1.7M New
CLH Clean Harbors Inc. 0.04% 8,380 $1.7M Reduce -50.3%
MRVL Marvell Technology Inc. 0.03% 25,090 $1.6M New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.03% 6,593 $1.6M Add +3.3%
MKFG Markforged Holding Corp. 0.03% 341,480 $1.6M New
ACCD Accolade Inc. 0.03% 226,800 $1.6M New
CCRN Cross Country Healthcare Inc. 0.03% 105,159 $1.6M New
HASI Ha Sustainable Infrastructur 0.03% 53,193 $1.6M Reduce -20.4%
BSY Bentley Systems Inc. Class B 0.03% 38,485 $1.6M Reduce -31.8%
ERO Ero Copper Corp. 0.03% 100,000 $1.3M No change
TTWO Take-Two Interactive Softwre 0.03% 5,756 $1.2M New
SHCO Soho House & Co. Inc. 0.03% 192,952 $1.2M New
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.02% 64,365 $1.2M Reduce -41.2%
GLOB Globant SA 0.02% 8,954 $1.1M New
AMT American Tower Corp. 0.02% 5,085 $1.1M Reduce -34.6%
INBX Inhibrx Biosciences Inc. 0.02% 75,932 $1.1M New
OC Owens Corning 0.02% 7,197 $1.1M Reduce -9.1%
LOW Lowe's Cos Inc. 0.02% 4,325 $1.0M Add +29.8%
GM General Motors Co. 0.02% 21,069 $994K Reduce -50.3%
SQNS Sequans Communications S A 0.02% 470,641 $988K New
ATSG Air Transport Services Group 0.02% 42,847 $962K New
ABT Abbott Laboratories 0.02% 7,012 $890K Reduce -73.4%
ALGM Allegro Microsystems Inc. 0.02% 37,137 $878K New
ALC Alcon Inc. filed as ALCON AG 0.02% 8,010 $763K New
BLUEBIRD BIO INC 0.01% 135,000 $679K New
BECN Beacon Roofing Supply Inc. 0.01% 5,400 $668K New
GES Guess? Inc. 0.01% 60,001 $664K New
O Realty Income Corp. 0.01% 11,657 $655K Add +20.2%
NXPI NXP Semiconductors NV 0.01% 3,247 $650K New
EPR Epr Properties filed as EPR PPTYS 0.01% 12,140 $623K Reduce -3.7%
ESS Essex Property Trust Inc. 0.01% 1,989 $606K Reduce -4.1%
CTRE Caretrust REIT Inc. 0.01% 20,572 $588K Add +14.3%
UDR Udr Inc. 0.01% 13,076 $578K New
NNN NNN REIT Inc. 0.01% 13,710 $576K Add +9.2%
RYN Rayonier Inc. 0.01% 20,535 $572K New
LTC LTC Properties Inc. filed as LTC PPTYS INC 0.01% 16,219 $567K Add +3.9%
PBA Pembina Pipeline Corp. 0.01% 14,281 $566K Reduce -1.0%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 7,935 $565K Reduce -3.0%
EPRT Essential Properties Realty 0.01% 17,131 $559K New
REG Regency Centers Corp. 0.01% 7,635 $553K Reduce -6.4%
OHI Omega Healthcare Investors 0.01% 14,545 $545K Add +2.9%
FR First Industrial Realty TR 0.01% 9,885 $536K New
PSA Public Storage 0.01% 1,833 $535K Add +5.3%
BRX Brixmor Property Group Inc. 0.01% 20,138 $529K Reduce -8.6%
SKT Tanger Inc. 0.01% 16,021 $526K Reduce -11.0%
OR Osisko Gold Royalties Ltd. 0.01% 25,000 $526K New
DM Desktop Metal Inc. Class A 0.01% 105,389 $517K New
LAMR Lamar Advertising Co. Class A 0.01% 4,534 $510K No change
BLKB Blackbaud Inc. 0.01% 8,138 $505K New
UE Urban Edge Properties 0.01% 26,492 $500K No change
CDP Copt Defense Properties 0.01% 18,233 $494K No change
FRT Federal Realty Invs Trust 0.01% 5,092 $493K Reduce -6.2%
AKR Acadia Realty Trust 0.01% 23,165 $489K New
LWAY Lifeway Foods Inc. 0.01% 19,906 $487K New
CSCO Cisco Systems Inc. 0.01% 8,010 $484K Add +23.5%
RHP Ryman Hospitality Properties 0.01% 5,175 $484K Reduce -3.1%
TTEC Ttec Holdings Inc. filed as TTEC HLDGS INC 0.01% 146,002 $480K New
QCOM Qualcomm Inc. 0.01% 2,956 $467K Add +9.4%
ROK Rockwell Automation Inc. 0.01% 1,734 $465K Reduce -6.3%
KMI Kinder Morgan Inc. 0.01% 16,330 $461K Add +6.9%
HST Host Hotels & Resorts Inc. 0.01% 31,406 $456K Reduce -6.7%
ECL Ecolab Inc. 0.01% 1,800 $455K No change
MCO Moody's Corp. 0.01% 896 $420K Reduce -13.5%
BNTX Biontech SE-ADR 0.01% 4,200 $418K No change
CCI Crown Castle Inc. 0.01% 4,014 $412K Reduce -6.5%
PODD Insulet Corp. 0.01% 1,500 $411K No change
CYBR Cyberark Software Ltd./Israel 0.01% 1,200 $409K New
ED Consolidated Edison Inc. 0.01% 3,680 $397K Reduce -0.7%
PLTR Palantir Technologies Inc. Class A 0.01% 5,408 $391K Reduce -27.8%
SBAC SBA Communications Corp. 0.01% 1,777 $385K Add +9.6%
PGR Progressive Corp. 0.01% 1,396 $383K Reduce -41.3%
NWN Northwest Natural Holding Co. 0.01% 9,137 $381K New
CMI Cummins Inc. 0.01% 1,174 $380K Add +15.3%
NJR New Jersey Resources Corp. 0.01% 7,739 $374K Reduce -6.3%
OGS One Gas Inc. 0.01% 5,055 $373K Reduce -2.9%
EXC Exelon Corp. 0.01% 8,208 $363K Reduce -13.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.01% 4,292 $363K Reduce -9.8%
TRP TC Energy Corp. 0.01% 7,498 $360K Reduce -5.1%
ATO Atmos Energy Corp. 0.01% 2,384 $360K New
THC Tenet Healthcare Corp. 0.01% 2,666 $358K No change
ETR Entergy Corp. 0.01% 4,234 $356K Reduce -17.1%
VRSN Verisign Inc. 0.01% 1,374 $350K No change
MRNA Moderna Inc. 0.01% 10,005 $338K Reduce -63.1%
CNI Canadian Natl Railway Co. 0.01% 3,381 $335K No change
WBA Walgreens Boots Alliance Inc. 0.01% 30,000 $335K New
UNP Union Pacific Corp. 0.01% 1,401 $331K Reduce -50.6%
CP Canadian Pacific Kansas City 0.01% 4,634 $330K No change
HON Honeywell International Inc. 0.01% 1,541 $330K Reduce -37.1%
IQV Iqvia Holdings Inc. 0.01% 1,600 $298K No change
SRE Sempra 0.01% 4,183 $293K Reduce -9.4%
APO Apollo Global Management Inc. 0.01% 1,903 $270K New
BRK.B Berkshire Hathaway Inc. Class B 0.01% 554 $267K Add +23.1%
STT State Street Corp. 0.01% 2,816 $258K Add +8.1%
EIX Edison International 0.01% 4,438 $254K Reduce -19.1%
GILD Gilead Sciences Inc. 0.01% 2,264 $252K New
ICLR Icon PLC 0.01% 1,300 $240K No change
GIL Gildan Activewear Inc. 0.01% 5,335 $238K Reduce -15.3%
LNTH Lantheus Holdings Inc. 0.00% 2,250 $224K No change
DOV Dover Corp. 0.00% 1,196 $214K Reduce -15.5%
NTR Nutrien Ltd. 0.00% 5,185 $213K Add +34.5%
LDOS Leidos Holdings Inc. 0.00% 1,566 $212K Add +6.2%
BG Bunge Global SA 0.00% 2,738 $209K Reduce -13.6%
PNR Pentair PLC 0.00% 2,185 $195K New
PNC PNC Financial Services Group 0.00% 1,046 $183K Reduce -15.4%
RUN Sunrun Inc. 0.00% 28,038 $169K Reduce -31.4%
EW Edwards Lifesciences Corp. 0.00% 2,340 $167K Reduce -13.5%
IR Ingersoll-Rand Inc. 0.00% 2,008 $163K Reduce -33.7%
MCK McKesson Corp. 0.00% 238 $158K Reduce -7.0%
CHKP Check Point Software Tech 0.00% 682 $158K New
WST West Pharmaceutical Services 0.00% 677 $153K Reduce -92.2%
VEEV Veeva Systems Inc. Class A 0.00% 613 $146K New
EQH Equitable Holdings Inc. 0.00% 2,726 $145K Add +45.1%
DAY Dayforce Inc. 0.00% 2,405 $143K New
URI United Rentals Inc. 0.00% 218 $141K Reduce -20.7%
HOLX Hologic Inc. 0.00% 2,233 $139K Reduce -7.6%
RY Royal Bank of Canada 0.00% 1,179 $135K New
PPG PPG Industries Inc. 0.00% 1,197 $130K Add +4.8%
GROY Gold Royalty Corp. 0.00% 86,364 $129K New
CCJ Cameco Corp. 0.00% 2,981 $126K New
LPLA LPL Financial Holdings Inc. 0.00% 376 $125K New
CHR Cheer Holding Inc. Class A 0.00% 88,035 $117K New
HPE Hewlett Packard Enterprise 0.00% 6,515 $104K Reduce -83.7%
APD Air Products & Chemicals Inc. 0.00% 400 $103K No change
GIS General Mills Inc. 0.00% 1,715 $102K Add +22.1%
DELL Dell Technologies -C 0.00% 1,041 $101K New
BKR Baker Hughes Co. 0.00% 2,305 $101K Add +9.3%
EBAY eBay Inc. 0.00% 1,498 $100K New
CRL Charles River Laboratories 0.00% 590 $99K Add +44.6%
GLW Corning Inc. 0.00% 2,111 $98K New
SYY Sysco Corp. 0.00% 1,325 $98K New
INTC Intel Corp. 0.00% 5,010 $97K Add +7.1%
PCAR Paccar Inc. 0.00% 978 $96K Reduce -96.5%
WSM Williams-Sonoma Inc. 0.00% 583 $96K Add +13.0%
CTSH Cognizant Tech Solutions-A 0.00% 1,229 $95K Add +7.9%
YUM Yum! Brands Inc. 0.00% 602 $95K Reduce -10.2%
BA The Boeing Co. 0.00% 650 $87K No change
ALB Albemarle Corp. 0.00% 1,134 $85K No change
MCHI iShares MSCI China ETF 0.00% 1,500 $83K New
BAH Booz Allen Hamilton Holdings 0.00% 657 $70K New
GEN Gen Digital Inc. 0.00% 2,533 $69K Reduce -15.5%
MS Morgan Stanley 0.00% 574 $68K New
SYF Synchrony Financial 0.00% 1,236 $67K Add +35.5%
AMCR Amcor PLC 0.00% 6,662 $65K New
HUBB Hubbell Inc. 0.00% 168 $57K New
KR Kroger Co. 0.00% 780 $52K New
HCA HCA Healthcare Inc. 0.00% 143 $49K New
CAH Cardinal Health Inc. 0.00% 356 $49K Reduce -52.8%
ELV Elevance Health Inc. 0.00% 107 $46K Reduce -98.0%
RMD Resmed Inc. 0.00% 204 $45K New
USB US Bancorp 0.00% 941 $41K New
RF Regions Financial Corp. 0.00% 1,847 $41K New
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 0.00% 698 $40K Reduce -50.6%
LMT Lockheed Martin Corp. 0.00% 90 $38K No change
JBL Jabil Inc. 0.00% 246 $34K Add +35.2%
AFL Aflac Inc. 0.00% 305 $34K New
FFIV F5 Inc. 0.00% 125 $34K New
GRMN Garmin Ltd. 0.00% 153 $33K New
SNA Snap-on Inc. 0.00% 99 $33K Reduce -60.1%
EME Emcor Group Inc. 0.00% 86 $33K Add +79.2%
NTAP Netapp Inc. 0.00% 356 $32K Reduce -51.2%
RTX RTX Corp. 0.00% 173 $20K Reduce -74.3%
XOM Exxon Mobil Corp. 0.00% 120 $12K No change
ITT Itt Inc. 0.00% 110 $12K No change
COIN Coinbase Global Inc. Class A 0.00% 67 $11K Add +17.5%
CARR Carrier Global Corp. 0.00% 173 $10K Reduce -98.8%
TSLA Tesla Inc. 0.00% 30 $7K Reduce -38.8%
BMY Bristol-Myers Squibb Co. 0.00% 89 $5K No change
THCH TH International Ltd./Cayman 0.00% 1,427 $4K New
SNOW Snowflake Inc. 0.00% 25 $3K No change
KD Kyndryl Holdings Inc. 0.00% 100 $3K Add +150.0%
MO Altria Group Inc. 0.00% 50 $3K No change
MAT Mattel Inc. 0.00% 160 $3K New
HAS Hasbro Inc. 0.00% 40 $2K New
TWLO Twilio Inc. Class A 0.00% 25 $2K No change
GEHC GE Healthcare Technology 0.00% 33 $2K New
SLI Standard Lithium Ltd. 0.00% 1,000 $1K No change
OGN Organon & Co. 0.00% 50 $638 New
NGVT Ingevity Corp. 0.00% 6 $184 No change
EMBC Embecta Corp. 0.00% 4 $47 No change
COSCIENS BIOPHARMA INC 0.00% 1 $3 No change
TLRY Tilray Brands Inc. 0.00% 1 $1 No change

Options reported separately and not counted above: DB puts ($8.2M), JPM puts ($2.3M), AXP puts ($1.9M), C puts ($1.5M), WFC puts ($1.3M), DE puts ($1.3M), MCD puts ($1.2M), IBM puts ($1.1M), BAC puts ($1.0M), AZO puts ($763K), CAH puts ($689K), GS puts ($656K), and 10 more.

Other holdings (3): bonds, preferreds, convertibles and warrants · $14.3M (not counted above)
SecurityClassShares / PrincipalValueChange
AIRBNB INC (ABNB 0 03/15/26) NOTE 3/1 · principal 11,000,000$10.5MNew
DROPBOX INC (DBX 0 03/01/26) NOTE 3/0 · principal 2,000,000$2.0MNew
TRIPADVISOR INC (TRIP 0.25 04/01/26) NOTE 0.250% 4/0 · principal 2,000,000$1.9MNew

Total filed on the 13F, all lines: $4.7B.

Portfolio Sells Q4 2024 → Q1 2025

GOOGL Alphabet Inc. Class A Reduce -37.1% 1.89% −2.08
AMZN Amazon.com Inc. Reduce -0.8% 4.58% −1.30
SW Smurfit Westrock PLC Sold out 0.00% −0.75
TMUS T-Mobile US Inc. Reduce -46.0% 0.95% −0.74
META Meta Platforms Inc. Class A Reduce -3.4% 2.59% −0.57
MSCI MSCI Inc. Reduce -97.9% 0.10% −0.43
DECK Deckers Outdoor Corp. Reduce -29.0% 0.20% −0.37
CMG Chipotle Mexican Grill Inc. Reduce -42.8% 0.25% −0.36
MRK Merck & Co. Inc. Reduce -62.9% 0.13% −0.33
LLY Eli Lilly & Co. Reduce -2.6% 1.90% −0.30
BLK BlackRock Inc. Reduce -99.1% 0.46% −0.29
WPM Wheaton Precious Metals Corp. Sold out 0.00% −0.19
REGN Regeneron Pharmaceuticals Reduce -50.0% 0.11% −0.18
MSI Motorola Solutions Inc. Reduce -10.9% 0.36% −0.15
TCOM Trip.com Group Ltd.-ADR Reduce -13.2% 0.32% −0.15
VZ Verizon Communications Inc. Reduce -74.8% 0.05% −0.14
TMO Thermo Fisher Scientific Inc. Reduce -2.4% 0.69% −0.14
SNPS Synopsys Inc. Reduce -7.4% 0.34% −0.13
AMD Advanced Micro Devices Reduce -28.6% 0.15% −0.13
FSLR First Solar Inc. Reduce -6.0% 0.16% −0.13
ADBE Adobe Inc. Reduce -51.5% 0.07% −0.12
EXPD Expeditors Intl Wash Inc. Sold out 0.00% −0.12
PEP Pepsico Inc. Reduce -54.9% 0.07% −0.11
MELI MercadoLibre Inc. Reduce -16.4% 0.70% −0.10
INTU Intuit Inc. Reduce -30.8% 0.12% −0.09
CRWD CrowdStrike Holdings Inc. Class A Reduce -17.1% 0.23% −0.09
KLAC KLA Corp. Reduce -17.8% 0.26% −0.09
WDAY Workday Inc. Class A Sold out 0.00% −0.08
JNJ Johnson & Johnson Reduce -53.6% 0.08% −0.08
MDB Mongodb Inc. Sold out 0.00% −0.08
TW Tradeweb Markets Inc. Class A Sold out 0.00% −0.08
UNH Unitedhealth Group Inc. Reduce -4.4% 0.31% −0.07
PG The Procter & Gamble Co. Reduce -4.9% 0.32% −0.07
NEE Nextera Energy Inc. Reduce -49.8% 0.07% −0.07
ADI Analog Devices Inc. Reduce -16.4% 0.17% −0.07
PCAR Paccar Inc. Reduce -96.5% 0.00% −0.07
WST West Pharmaceutical Services Reduce -92.2% 0.00% −0.07
DHR Danaher Corp. Reduce -19.3% 0.12% −0.07
GFL GFL Environmental Inc.-Sub VT Reduce -64.0% 0.05% −0.07
XYL Xylem Inc. Reduce -19.2% 0.17% −0.06
CLH Clean Harbors Inc. Reduce -50.3% 0.04% −0.06
RSG Republic Services Inc. Reduce -26.9% 0.16% −0.05
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.05
ABT Abbott Laboratories Reduce -73.4% 0.02% −0.05
ELV Elevance Health Inc. Reduce -98.0% 0.00% −0.05
AWK American Water Works Co. Inc. Reduce -16.0% 0.20% −0.05
QRVO Qorvo Inc. Sold out 0.00% −0.04
CEG Constellation Energy Reduce -28.2% 0.05% −0.04
AVY Avery Dennison Corp. Sold out 0.00% −0.04
NXT Nextpower Inc. Reduce -35.8% 0.07% −0.04

Portfolio Buys Q4 2024 → Q1 2025

RACE Ferrari NV New 5.10% +5.10
GOOG Alphabet Inc. Class C New 1.35% +1.35
STLA Stellantis NV New 1.33% +1.33
NFLX Netflix Inc. Add +119.3% 1.72% +0.82
CB Chubb Ltd. New 0.79% +0.79
CRH CRH PLC Add +86.5% 2.14% +0.70
ETN Eaton Corp. PLC Add +122.7% 1.70% +0.60
ACN Accenture PLC Class A Add +183.2% 1.15% +0.57
V Visa Inc. Class A Add +35.0% 2.27% +0.52
DB Deutsche Bank AG-Registered New 0.32% +0.32
SPOT Spotify Technology SA New 0.28% +0.28
ITCI Intra-Cellular Therapies Inc. New 0.25% +0.25
ONON On Holding AG Class A New 0.24% +0.24
ORCL Oracle Corp. Add +84.0% 0.86% +0.24
DESP Despegar.com Corp. New 0.21% +0.21
VRT Vertiv Holdings Co. Class A New 0.19% +0.19
BABA Alibaba Group Holding-SP ADR Add +6.8% 0.57% +0.18
JPM JPMorgan Chase & Co. Add +19.0% 2.30% +0.17
NKE Nike Inc. Class B Add +206.1% 0.25% +0.17
GEV GE Vernova Inc. Add +110.3% 0.46% +0.16
YUMC Yum China Holdings Inc. Add +215.1% 0.23% +0.15
FER Ferrovial NV New 0.15% +0.15
PYCR Paycor HCM Inc. New 0.14% +0.14
PLYA Playa Hotels & Resorts NV New 0.14% +0.14
DDOG Datadog Inc. Class A New 0.13% +0.13
MMYT Makemytrip Ltd. New 0.13% +0.13
QGEN Qiagen N.V. New 0.12% +0.12
TT Trane Technologies PLC Add +283.9% 0.19% +0.12
MCD McDonald's Corp. Add +17.9% 0.36% +0.12
GS Goldman Sachs Group Inc. Add +8408.5% 0.12% +0.12
LIN Linde PLC Add +13.0% 2.07% +0.12
CCEP Coca-Cola Europacific Partne New 0.11% +0.11
ESGR Enstar Group Ltd. New 0.11% +0.11
EVRI Everi Holdings Inc. New 0.11% +0.11
AER Aercap Holdings NV New 0.10% +0.10
JNPR Juniper Networks Inc. New 0.10% +0.10
FYBR Frontier Communications Pare New 0.10% +0.10
PWR Quanta Services Inc. Add +187.4% 0.19% +0.09
AGS Playags Inc. New 0.09% +0.09
ISRG Intuitive Surgical Inc. Add +42.4% 0.80% +0.09
K Kellanova Add +288.8% 0.12% +0.08
FNA Paragon 28 Inc. New 0.08% +0.08
PDCO Patterson Cos Inc. New 0.08% +0.08
PYPL PayPal Holdings Inc. Add +6778.7% 0.08% +0.08
DNB Dun & Bradstreet Holdings Inc. New 0.08% +0.08
AEM Agnico Eagle Mines Ltd. Add +8.9% 0.36% +0.08
SRDX Surmodics Inc. New 0.08% +0.08
BSX Boston Scientific Corp. Add +13.1% 0.72% +0.08
SGRY Surgery Partners Inc. New 0.07% +0.07
WM Waste Management Inc. Add +14.6% 0.34% +0.07

Options Activity Q4 2024 → Q1 2025

DB Deutsche Bank AG-Registered put New 375,000 $8.2M
JPM JPMorgan Chase & Co. put New 9,500 $2.3M
AXP American Express Co. put New 7,000 $1.9M
C Citigroup Inc. put New 21,000 $1.5M
WFC Wells Fargo & Co. put New 18,500 $1.3M
DE Deere & Co. put New 2,800 $1.3M
MCD McDonald's Corp. put New 4,000 $1.2M
IBM Intl Business Machines Corp. put New 4,500 $1.1M
BAC Bank of America Corp. put New 25,000 $1.0M
AZO AutoZone Inc. put New 200 $763K
CAH Cardinal Health Inc. put New 5,000 $689K
GS Goldman Sachs Group Inc. put New 1,200 $656K
LOW Lowe's Cos Inc. put New 2,500 $583K
CAG Conagra Brands Inc. put New 19,000 $507K
ORCL Oracle Corp. put New 3,500 $489K
JCI Johnson Controls Internation put New 5,000 $401K
HD Home Depot Inc. put New 1,000 $366K
MS Morgan Stanley put New 3,000 $350K
CAT Caterpillar Inc. put New 1,000 $330K
AVGO Broadcom Inc. put New 1,500 $251K
GIS General Mills Inc. put New 4,000 $239K
CPB The Campbell's Company put New 5,000 $200K

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

Notes & Other Activity Q4 2024 → Q1 2025

AIRBNB INC (ABNB 0 03/15/26) NOTE 3/1 · principal New 11,000,000 $10.5M
DROPBOX INC (DBX 0 03/01/26) NOTE 3/0 · principal New 2,000,000 $2.0M
TRIPADVISOR INC (TRIP 0.25 04/01/26) NOTE 0.250% 4/0 · principal New 2,000,000 $1.9M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 445$8.1BNVDA, TTE, MSFT, AAPL, GOOGL
Q1 2026 416$7.1BTTE, NVDA, MSFT, AAPL, AMZN
Q4 2025 419$6.8BMSFT, TTE, NVDA, AMZN, AAPL
Q3 2025 740$7.3BMSFT, NVDA, AMZN, RACE, AAPL
Q2 2025 410$6.1BMSFT, NVDA, AMZN, RACE, AAPL
Q1 2025 416$4.7BMSFT, NVDA, RACE, AMZN, AAPL
Q4 2024 333$4.0BMSFT, NVDA, AMZN, AAPL, GIB