Groupe la Francaise

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Groupe la Francaise reported 419 stock positions worth $6.8 billion. Its top holding was Microsoft (MSFT) at 6.5% of the portfolio, followed by Totalenergies (TTE, 6.4%) and Nvidia (NVDA, 6.3%). Compared with Q3 2025, it opened 39 new positions, sold out of 361, added to 139 and reduced 179. The biggest buy was a new position in Totalenergies (TTE) and the biggest sale Ferrari (RACE, shares −11%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0002056088
Portfolio Value
$6.8B (Q4 2025)
SEC Filing
0000945621-26-000294 ↗ filed Feb 12, 2026

Holdings Value

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

Holdings 419 stocks · $6.8B

MSFT Microsoft Corp. 6.48% 924,369 $443.3M Reduce -17.3%
TTE Totalenergies SE 6.37% 6,993,136 $435.7M New
NVDA Nvidia Corp. 6.28% 2,315,013 $429.4M Reduce -19.1%
AMZN Amazon.com Inc. 3.95% 1,181,910 $270.3M Reduce -29.8%
AAPL Apple Inc. 3.88% 983,784 $265.4M Reduce -23.6%
RACE Ferrari NV 3.30% 634,557 $225.7M Reduce -11.2%
GOOGL Alphabet Inc. Class A 2.90% 642,149 $198.4M Reduce -40.8%
AVGO Broadcom Inc. 2.88% 572,704 $196.8M Reduce -6.5%
GIB Cgi Inc. 2.31% 1,710,845 $157.8M Add +2.2%
JPM JPMorgan Chase & Co. 2.18% 465,495 $149.0M Reduce -0.6%
V Visa Inc. Class A 2.15% 421,989 $147.2M Reduce -19.9%
LLY Eli Lilly & Co. 2.12% 135,742 $145.2M Reduce -26.5%
CRH CRH PLC 1.94% 1,113,404 $132.5M Reduce -20.8%
GOOG Alphabet Inc. Class C 1.87% 407,421 $127.8M Add +5.5%
META Meta Platforms Inc. Class A 1.86% 193,546 $127.1M Reduce -18.2%
ISRG Intuitive Surgical Inc. 1.46% 177,592 $99.8M Reduce -10.8%
STLA Stellantis NV 1.41% 8,789,705 $96.5M Add +39.0%
CRM Salesforce Inc. 1.36% 351,766 $92.9M Add +1.1%
NFLX Netflix Inc. 1.29% 950,715 $88.3M Reduce -6.9%
TSM Taiwan Semiconductor-SP ADR 1.28% 289,151 $87.8M Reduce -22.6%
ETN Eaton Corp. PLC 1.20% 261,522 $81.9M Reduce -31.8%
WMT Walmart Inc. 1.16% 718,177 $79.5M Reduce -36.1%
GE General Electric filed as GE AEROSPACE 1.08% 239,622 $73.8M Reduce -2.4%
TMO Thermo Fisher Scientific Inc. 1.00% 119,229 $68.6M Reduce -1.4%
BKNG Booking Holdings Inc. 0.96% 12,367 $65.8M Add +4.5%
KO The Coca-Cola Co. 0.94% 939,344 $64.4M Reduce -22.8%
NOW ServiceNow Inc. 0.87% 386,391 $59.2M Add +2.8%
AXP American Express Co. 0.84% 156,878 $57.6M Add +0.1%
MA Mastercard Inc. Class A 0.84% 100,295 $57.2M Add +5.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.79% 981,415 $53.8M Add +28.4%
DB Deutsche Bank AG-Registered 0.73% 1,291,643 $50.2M Add +64.9%
BSX Boston Scientific Corp. 0.73% 525,428 $49.9M Reduce -14.7%
TMUS T-Mobile US Inc. 0.68% 228,905 $46.5M Add +30.2%
LIN Linde PLC 0.65% 105,922 $44.5M Reduce -49.8%
ORCL Oracle Corp. 0.62% 216,960 $42.1M Reduce -48.0%
GS Goldman Sachs Group Inc. 0.61% 47,640 $41.9M Add +41.5%
BLK BlackRock Inc. 0.59% 38,722 $40.4M Add +24.4%
COST Costco Wholesale Corp. 0.56% 45,039 $38.5M Reduce -54.6%
GEV GE Vernova Inc. 0.54% 56,142 $36.7M Add +65.9%
PANW Palo Alto Networks Inc. 0.53% 205,463 $36.5M Reduce -25.1%
UBER Uber Technologies Inc. 0.49% 409,088 $33.3M Reduce -0.6%
MELI MercadoLibre Inc. 0.46% 15,521 $31.2M Add +16.1%
PWR Quanta Services Inc. 0.45% 72,639 $30.7M Add +2.6%
AEM Agnico Eagle Mines Ltd. 0.44% 177,388 $30.1M Reduce -3.7%
NEM Newmont Corp. 0.43% 295,500 $29.5M Add +1.8%
CB Chubb Ltd. 0.43% 93,576 $29.2M Reduce -9.1%
RL Ralph Lauren Corp. 0.42% 81,773 $28.9M Reduce -4.5%
B Barrick Mining Corp. 0.41% 652,499 $28.3M Reduce -0.1%
AMD Advanced Micro Devices 0.41% 132,528 $28.3M Add +107.5%
ABBV Abbvie Inc. 0.40% 120,335 $27.5M Add +344.9%
FER Ferrovial NV 0.37% 390,652 $25.4M Add +117.1%
WFC Wells Fargo & Co. 0.37% 268,015 $25.0M Add +10.5%
DHR Danaher Corp. 0.35% 104,093 $23.8M Reduce -45.7%
GM General Motors Co. 0.33% 277,623 $22.6M Add +91.6%
RSG Republic Services Inc. 0.31% 100,236 $21.2M Add +41.3%
HWM Howmet Aerospace Inc. 0.30% 99,182 $20.3M Add +10.8%
ONON On Holding AG Class A filed as ON HLDG AG 0.29% 433,953 $20.2M Add +9.1%
WELL Welltower Inc. 0.29% 107,814 $20.0M Reduce -16.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.29% 128,278 $19.7M Reduce -0.8%
APH Amphenol Corp. Class A 0.28% 142,813 $19.3M Add +75.4%
KGC Kinross Gold Corp. 0.28% 675,000 $19.0M Reduce -5.5%
CAT Caterpillar Inc. 0.27% 33,035 $18.8M Add +92.5%
WPM Wheaton Precious Metals Corp. 0.27% 155,000 $18.2M Add +4.3%
GFI Gold Fields Ltd.-Spons ADR 0.26% 410,000 $17.9M Add +12.3%
DAY Dayforce Inc. 0.26% 255,424 $17.7M Add +432.1%
WM Waste Management Inc. 0.25% 81,795 $17.4M Reduce -11.8%
ANET Arista Networks Inc. 0.24% 126,420 $16.5M Add +1.6%
KLAC KLA Corp. 0.24% 13,516 $16.4M Reduce -34.0%
AU Anglogold Ashanti PLC 0.24% 190,000 $16.2M Reduce -3.5%
FNV Franco-Nevada Corp. 0.24% 78,000 $16.2M Add +1.5%
MCD McDonald's Corp. 0.23% 55,237 $15.9M Reduce -47.6%
TXN Texas Instruments Inc. 0.23% 90,383 $15.7M Add +3.2%
PH Parker Hannifin Corp. 0.22% 17,450 $15.3M Add +15.6%
MSI Motorola Solutions Inc. 0.22% 39,979 $15.3M Reduce -52.1%
EMR Emerson Electric Co. 0.22% 111,575 $14.8M Add +10.3%
SPOT Spotify Technology SA 0.21% 25,340 $14.6M Reduce -16.7%
FSLR First Solar Inc. 0.21% 54,966 $14.4M Reduce -15.8%
PG The Procter & Gamble Co. 0.20% 97,753 $14.0M Reduce -10.6%
JCI Johnson Controls Internation 0.20% 113,786 $13.6M Add +75757.3%
AGI Alamos Gold Inc. Class A 0.20% 350,000 $13.5M Add +1.4%
EQX Equinox Gold Corp. 0.20% 950,000 $13.3M Add +18.6%
NDAQ Nasdaq Inc. 0.18% 126,536 $12.3M Add +102.5%
ACN Accenture PLC Class A 0.18% 49,802 $12.2M Reduce -61.6%
RNAM Avidity Biosciences Inc. 0.17% 162,398 $11.7M New
JAMF Jamf Holding Corp. filed as JAMF HLDG CORP 0.17% 868,718 $11.3M New
XYL Xylem Inc. 0.16% 80,067 $10.9M Add +2.0%
PAAS Pan American Silver Corp. 0.16% 207,500 $10.8M Add +6.0%
CUK Carnival PLC-ADR 0.16% 353,798 $10.7M New
PINS Pinterest Inc. Class A 0.16% 412,024 $10.7M Add +45680.4%
DDOG Datadog Inc. Class A 0.16% 78,075 $10.6M Add +2.5%
MDT Medtronic PLC 0.16% 110,516 $10.6M Add +2.5%
LRCX Lam Research Corp. 0.15% 61,770 $10.6M Add +17.1%
NGD New Gold Inc. 0.15% 1,200,000 $10.5M Reduce -36.9%
AVDL Avadel Pharmaceuticals Ltd. 0.15% 479,291 $10.3M New
VLTO Veralto Corp. 0.15% 101,588 $10.1M Add +28.3%
ADI Analog Devices Inc. 0.15% 37,107 $10.1M Add +2.7%
ADBE Adobe Inc. 0.15% 28,674 $10.0M Add +133.8%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.14% 581,150 $9.7M Reduce -2.5%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.14% 700,000 $9.4M Add +4.5%
FFIV F5 Inc. 0.14% 36,432 $9.3M Add +125527.6%
DECK Deckers Outdoor Corp. 0.13% 88,272 $9.1M Add +21.1%
PRU Prudential Financial Inc. 0.13% 80,840 $9.1M Reduce -9.1%
MS Morgan Stanley 0.13% 51,178 $9.1M Add +1669.6%
AMAT Applied Materials Inc. 0.13% 35,211 $9.0M Add +14.9%
MMYT Makemytrip Ltd. 0.13% 109,461 $9.0M Add +11.6%
AWK American Water Works Co. Inc. 0.13% 67,977 $8.8M Reduce -1.6%
PGR Progressive Corp. 0.13% 38,727 $8.8M Reduce -40.4%
TT Trane Technologies PLC 0.13% 23,336 $8.7M Reduce -71.3%
NKE Nike Inc. Class B 0.13% 138,050 $8.7M Reduce -22.3%
BHF Brighthouse Financial Inc. 0.13% 133,458 $8.6M New
HOLX Hologic Inc. 0.13% 114,945 $8.6M Add +4214.8%
CGAU Centerra Gold Inc. 0.12% 570,000 $8.2M Add +7.5%
TRV The Travelers Cos Inc. 0.12% 27,923 $8.1M Reduce -0.9%
MU Micron Technology Inc. 0.12% 27,792 $7.9M Reduce -16.7%
CDNS Cadence Design SYS Inc. 0.12% 25,355 $7.9M Reduce -40.8%
SPG Simon Property Group Inc. 0.11% 42,351 $7.8M Reduce -0.6%
FYBR Frontier Communications Pare 0.11% 204,666 $7.8M Add +35.7%
SPGI S&P Global Inc. 0.11% 14,824 $7.7M Add +2.5%
SKE Skeena Resources Ltd. 0.11% 325,000 $7.7M Reduce -8.3%
HUBS HubSpot Inc. 0.11% 19,045 $7.6M Add +54314.3%
DE Deere & Co. 0.11% 16,376 $7.6M Reduce -60.2%
SHOP Shopify Inc. Class A 0.11% 47,341 $7.6M Add +4909.6%
EA Electronic Arts Inc. 0.11% 36,240 $7.4M Add +80433.3%
LHX L3HARRIS Technologies Inc. 0.11% 24,788 $7.3M Add +1.4%
FLUT Flutter Entertainment PLC-Di 0.11% 36,351 $7.3M Add +91.4%
NTRS Northern Trust Corp. 0.10% 51,615 $7.1M Reduce -0.2%
TXNM TXNM Energy Inc. 0.10% 119,386 $7.0M Add +70.5%
ADSK Autodesk Inc. 0.10% 23,746 $7.0M Add +1.6%
C Citigroup Inc. 0.10% 60,000 $7.0M Add +58152.4%
INTU Intuit Inc. 0.10% 10,536 $7.0M Reduce -0.0%
HASI Ha Sustainable Infrastructur 0.10% 219,651 $6.9M Add +77.7%
XYZ Block Inc. 0.10% 105,941 $6.9M Reduce -0.2%
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.10% 106,500 $6.8M Add +255.0%
FSM Fortuna Mining Corp. 0.10% 695,000 $6.8M No change
CEG Constellation Energy 0.10% 19,716 $6.7M Reduce -6.8%
ITW Illinois Tool Works 0.10% 27,061 $6.7M Reduce -1.6%
DXCM Dexcom Inc. 0.10% 98,723 $6.5M Add +10.7%
TRMB Trimble Inc. 0.10% 83,431 $6.5M Reduce -0.1%
CSGS CSG Systems Intl Inc. 0.09% 83,517 $6.4M New
PRA Proassurance Corp. 0.09% 263,195 $6.4M Add +54.1%
VRT Vertiv Holdings Co. Class A 0.09% 39,057 $6.3M Reduce -57.5%
SYK Stryker Corp. 0.09% 18,000 $6.3M Reduce -65.4%
FTV Fortive Corp. 0.09% 112,196 $6.2M Add +0.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 53,648 $6.1M Reduce -11.5%
KEYS Keysight Technologies Inc. 0.09% 29,692 $6.0M Add +1.1%
PYPL PayPal Holdings Inc. 0.09% 103,073 $6.0M Add +50.0%
TGNA Tegna Inc. 0.09% 306,721 $6.0M New
SSRM SSR Mining Inc. 0.09% 270,000 $5.9M No change
CYBR Cyberark Software Ltd./Israel 0.09% 13,096 $5.8M Reduce -35.4%
SNPS Synopsys Inc. 0.08% 12,253 $5.8M Reduce -78.3%
APO Apollo Global Management Inc. 0.08% 39,308 $5.7M Add +3.7%
QGEN Qiagen N.V. 0.08% 124,380 $5.7M Reduce -12.9%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.08% 201,631 $5.7M Add +4.1%
CCEP Coca-Cola Europacific Partne 0.08% 62,205 $5.7M Add +7.1%
EXK Endeavour Silver Corp. 0.08% 600,000 $5.6M Add +9.1%
FCX Freeport-McMoran Inc. 0.08% 110,000 $5.6M Reduce -9.5%
FAST Fastenal Co. 0.08% 138,823 $5.6M Add +4.2%
QCOM Qualcomm Inc. 0.08% 31,903 $5.5M Add +7.9%
INTC Intel Corp. 0.08% 149,365 $5.5M Add +435.5%
MSCI MSCI Inc. 0.08% 9,485 $5.4M Add +0.8%
ABT Abbott Laboratories 0.08% 43,326 $5.4M Reduce -13.8%
ADP Automatic Data Processing 0.08% 20,537 $5.3M Add +2.0%
MPWR Monolithic Power Systems Inc. 0.08% 5,758 $5.2M Add +43.6%
BTG B2GOLD Corp. 0.08% 1,150,000 $5.2M Add +9.5%
CHD Church & Dwight Co. Inc. 0.07% 61,058 $5.1M Add +4.4%
NXT Nextpower Inc. 0.07% 58,604 $5.1M Add +5.4%
GTLS Chart Industries Inc. 0.07% 24,669 $5.1M Add +89.8%
UNH Unitedhealth Group Inc. 0.07% 15,277 $5.0M Reduce -2.5%
RGLD Royal Gold Inc. 0.07% 22,500 $5.0M Add +9.8%
MRK Merck & Co. Inc. 0.07% 46,920 $4.9M Reduce -6.2%
CME Cme Group Inc. 0.07% 17,956 $4.9M Reduce -72.3%
CDE Coeur Mining Inc. 0.07% 275,000 $4.9M Reduce -17.5%
IAUX I-80 Gold Corp. 0.07% 3,300,000 $4.9M Add +6.5%
CFLT Confluent Inc. Class A 0.07% 159,999 $4.8M New
CLX Clorox Company 0.07% 47,954 $4.8M Add +66.5%
IDXX Idexx Laboratories Inc. 0.07% 7,127 $4.8M Reduce -8.2%
AVB Avalonbay Communities Inc. 0.07% 26,246 $4.8M Reduce -7.7%
OSISKO DEVELOPMENT CORP 0.07% 1,400,000 $4.7M Add +55.6%
OTIS Otis Worldwide Corp. 0.07% 53,900 $4.7M Add +3.1%
VRSK Verisk Analytics Inc. 0.07% 20,869 $4.7M Add +2.6%
T AT&T Inc. 0.07% 186,344 $4.6M Reduce -25.6%
A Agilent Technologies Inc. 0.07% 33,852 $4.6M Add +0.5%
CI The Cigna Group 0.07% 16,572 $4.6M Add +0.5%
NXPI NXP Semiconductors NV 0.06% 20,386 $4.4M Reduce -0.5%
STE Steris PLC 0.06% 16,925 $4.3M Add +3.1%
EQIX Equinix Inc. 0.06% 5,484 $4.2M Add +3.1%
GILD Gilead Sciences Inc. 0.06% 33,797 $4.1M Reduce -0.7%
MRVL Marvell Technology Inc. 0.06% 47,627 $4.0M Add +4.6%
WBD Warner Bros Discovery Inc. 0.06% 140,000 $4.0M Add +466566.7%
UBS UBS Group AG-Reg 0.06% 86,415 $4.0M Add +48.7%
TFC Truist Financial Corp. 0.06% 81,323 $4.0M Add +0.8%
PFG Principal Financial Group 0.06% 45,279 $4.0M Reduce -0.1%
HLT Hilton Worldwide Holdings Inc. 0.06% 15,425 $4.0M Reduce -14.0%
HPQ HP Inc. 0.06% 177,120 $3.9M Add +2.0%
ELS Equity Lifestyle Properties 0.06% 63,699 $3.9M Add +3.3%
EXAS Exact Sciences Corp. 0.06% 37,590 $3.8M New
DLR Digital Realty Trust Inc. 0.06% 24,296 $3.8M Reduce -0.4%
ALL Allstate Corp. 0.05% 17,925 $3.7M Reduce -7.8%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.05% 47,903 $3.7M Add +6.6%
CNL Collective Mining Ltd. 0.05% 250,000 $3.6M Add +16.7%
GROY Gold Royalty Corp. 0.05% 900,000 $3.6M Add +24.1%
FTNT Fortinet Inc. 0.05% 45,751 $3.6M Reduce -2.4%
PAYX Paychex Inc. 0.05% 32,244 $3.6M Add +4.7%
JNJ Johnson & Johnson 0.05% 17,719 $3.6M Reduce -28.7%
KDP Keurig Dr Pepper Inc. 0.05% 123,419 $3.5M Add +4.9%
PLD Prologis Inc. 0.05% 27,008 $3.4M Reduce -9.3%
FERG Ferguson Enterprises Inc. 0.05% 15,116 $3.4M Add +1.0%
FOLD Amicus Therapeutics Inc. 0.05% 234,202 $3.3M New
CDTX Cidara Therapeutics Inc. 0.05% 15,000 $3.3M New
SEE Sealed Air Corp. 0.05% 79,750 $3.3M New
GWW WW Grainger Inc. 0.05% 3,224 $3.3M Add +2.1%
OR Or Royalties Inc. 0.05% 90,000 $3.2M Reduce -3.4%
DC Dakota Gold Corp. 0.05% 550,000 $3.1M No change
BKR Baker Hughes Co. 0.04% 66,404 $3.0M Reduce -1.7%
MTW Manitowoc Company Inc. 0.04% 248,056 $3.0M Reduce -2.9%
BEPC Brookfield Renewable Corp. 0.04% 76,577 $2.9M Add +20051.8%
BALL Ball Corp. 0.04% 54,556 $2.9M No change
CIO City Office REIT Inc. 0.04% 412,718 $2.9M Add +103.6%
ARM Arm Holdings PLC-ADR 0.04% 25,752 $2.8M Reduce -79.4%
SHCO Soho House & Co. Inc. 0.04% 312,943 $2.8M Add +160.1%
IBN Icici Bank Ltd.-Spon ADR 0.04% 93,256 $2.8M No change
ECL Ecolab Inc. 0.04% 10,388 $2.7M Add +4.9%
ITRI Itron Inc. 0.04% 28,516 $2.6M Add +23.3%
CL Colgate-Palmolive Co. 0.04% 35,094 $2.6M Reduce -56.3%
AHL Aspen Insurance Holdings Class A 0.04% 69,550 $2.6M Add +20.9%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.04% 37,700 $2.5M Reduce -0.4%
CLH Clean Harbors Inc. 0.04% 10,780 $2.5M No change
SEMR Semrush Holdings Inc. Class A 0.04% 209,755 $2.5M New
GRAB Grab Holdings Ltd. Class A 0.04% 489,186 $2.4M Add +108.9%
DENN Denny's Corp. 0.04% 390,000 $2.4M New
BSY Bentley Systems Inc. Class B 0.03% 61,993 $2.4M Add +80.7%
REGN Regeneron Pharmaceuticals 0.03% 3,248 $2.3M Reduce -19.4%
DHIL Diamond Hill Investment Grp 0.03% 13,200 $2.2M New
GIFI Gulf Island Fabrication Inc. 0.03% 180,001 $2.2M New
QIPT Quipt Home Medical Corp. 0.03% 605,880 $2.1M New
LNSR Lensar Inc. 0.03% 183,724 $2.1M No change
EB Eventbrite Inc. Class A 0.03% 480,000 $2.1M New
BIP Brookfield Infrastructure Pa 0.03% 58,914 $2.0M New
SRG Seritage Growth Prop- A 0.03% 619,871 $2.0M No change
WY Weyerhaeuser Co. 0.03% 83,932 $2.0M No change
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.03% 81,895 $2.0M Add +5.3%
TRUE Truecar Inc. 0.03% 862,448 $1.9M New
GRFS Grifols SA-ADR 0.03% 238,928 $1.9M No change
GFL GFL Environmental Inc.-Sub VT 0.03% 43,867 $1.9M Add +8.0%
TTWO Take-Two Interactive Softwre 0.03% 7,374 $1.8M Reduce -2.1%
MRSN Mersana Therapeutics Inc. 0.03% 61,488 $1.8M New
CSL Carlisle Cos Inc. 0.03% 5,462 $1.7M No change
IMXI International Money Express 0.02% 108,000 $1.7M No change
HI Hillenbrand Inc. 0.02% 52,000 $1.6M New
UPS United Parcel Service Class B 0.02% 16,000 $1.6M Reduce -15.4%
AMT American Tower Corp. 0.02% 8,741 $1.5M Reduce -2.1%
BEP Brookfield Renewable Partner 0.02% 54,295 $1.5M No change
ATXS Astria Therapeutics Inc. 0.02% 108,800 $1.4M New
FRGE Forge Global Holdings Inc. 0.02% 30,000 $1.3M New
INBX Inhibrx Biosciences Inc. 0.02% 15,636 $1.2M Reduce -67.0%
RNW Renew Energy Global PLC-A 0.02% 213,756 $1.2M Add +128.0%
HD Home Depot Inc. 0.01% 3,007 $974K Reduce -95.5%
CARR Carrier Global Corp. 0.01% 16,747 $883K Reduce -2.9%
RUN Sunrun Inc. 0.01% 47,982 $882K Reduce -31.5%
HBAN Huntington Bancshares Inc. 0.01% 50,810 $881K Reduce -32.4%
THC Tenet Healthcare Corp. 0.01% 3,783 $751K No change
MICC The Magnum Ice Cream Co. NV 0.01% 40,801 $643K New
ROK Rockwell Automation Inc. 0.01% 1,620 $630K Reduce -0.9%
CTRE Caretrust REIT Inc. 0.01% 17,154 $620K Reduce -9.1%
OHI Omega Healthcare Investors 0.01% 13,937 $618K Reduce -11.6%
SBRA Sabra Health Care REIT Inc. 0.01% 31,852 $603K New
CBRE CBRE Group Inc. Class A 0.01% 3,749 $603K Reduce -9.0%
GTY Getty Realty Corp. 0.01% 21,890 $599K Add +4.8%
PLTR Palantir Technologies Inc. Class A 0.01% 4,159 $594K Reduce -86.3%
SKT Tanger Inc. 0.01% 17,677 $590K Reduce -6.4%
EPRT Essential Properties Realty 0.01% 19,860 $589K Add +9.7%
JLL Jones Lang Lasalle Inc. 0.01% 1,734 $583K New
IVT Inventrust Properties Corp. 0.01% 20,675 $583K New
CDP Copt Defense Properties 0.01% 20,944 $582K No change
ALEX Alexander & Baldwin Inc. 0.01% 27,588 $569K Reduce -14.8%
HST Host Hotels & Resorts Inc. 0.01% 31,646 $561K New
BRX Brixmor Property Group Inc. 0.01% 21,399 $561K Reduce -3.5%
REG Regency Centers Corp. 0.01% 8,109 $560K No change
FCPT Four Corners Property Trust 0.01% 24,218 $558K New
KIM Kimco Realty Corp. 0.01% 27,480 $557K No change
GLPI Gaming and Leisure Propertie 0.01% 12,372 $553K No change
NNN NNN REIT Inc. 0.01% 13,872 $550K Add +3.7%
RY Royal Bank of Canada 0.01% 3,123 $533K Reduce -12.6%
CMI Cummins Inc. 0.01% 986 $503K Reduce -2.1%
EPR Epr Properties filed as EPR PPTYS 0.01% 9,913 $495K No change
MCO Moody's Corp. 0.01% 960 $490K No change
VNO Vornado Realty Trust 0.01% 14,525 $483K New
PFE Pfizer Inc. 0.01% 19,572 $449K Reduce -74.7%
BWMN Bowman Consulting Group Ltd. 0.01% 13,000 $429K No change
STN Stantec Inc. 0.01% 4,500 $425K No change
NEE Nextera Energy Inc. 0.01% 5,613 $420K Reduce -71.4%
ZTS Zoetis Inc. 0.01% 3,547 $411K Reduce -87.7%
GRND Grindr Inc. 0.01% 30,000 $406K Add +3847.4%
NWN Northwest Natural Holding Co. 0.01% 8,668 $405K Reduce -13.2%
CNI Canadian Natl Railway Co. 0.01% 4,081 $404K Reduce -91.0%
TTEK Tetra Tech Inc. 0.01% 12,000 $402K Add +4.3%
PEG Public Service Enterprise GP 0.01% 4,993 $401K Add +1394.9%
BMI Badger Meter Inc. 0.01% 2,300 $401K Reduce -4.2%
BNTX Biontech SE-ADR 0.01% 4,200 $400K Reduce -10.3%
TRP TC Energy Corp. 0.01% 7,198 $397K Reduce -11.1%
OKE Oneok Inc. 0.01% 5,374 $395K Add +10.6%
SR Spire Inc. 0.01% 4,763 $394K Reduce -12.3%
SBAC SBA Communications Corp. 0.01% 2,006 $388K Reduce -52.1%
CP Canadian Pacific Kansas City 0.01% 5,252 $387K Reduce -96.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.01% 3,331 $387K No change
ACM Aecom 0.01% 4,052 $386K Reduce -11.0%
ETR Entergy Corp. 0.01% 4,163 $385K Reduce -12.7%
ED Consolidated Edison Inc. 0.01% 3,873 $385K Reduce -2.0%
AWR American States Water Co. filed as AMER STATES WTR CO 0.01% 5,288 $383K Add +2.2%
UNP Union Pacific Corp. 0.01% 1,643 $380K Reduce -29.7%
KMI Kinder Morgan Inc. 0.01% 13,776 $379K Add +2.1%
EXC Exelon Corp. 0.01% 8,568 $373K Reduce -6.2%
NJR New Jersey Resources Corp. 0.01% 8,086 $373K Reduce -8.6%
NSC Norfolk Southern Corp. 0.01% 1,289 $372K No change
OGS One Gas Inc. 0.01% 4,805 $371K Reduce -12.9%
PBA Pembina Pipeline Corp. 0.01% 9,585 $366K Reduce -9.4%
IQV Iqvia Holdings Inc. 0.01% 1,600 $360K No change
GIL Gildan Activewear Inc. 0.01% 5,735 $359K Add +1.8%
HON Honeywell International Inc. 0.00% 1,714 $334K Reduce -2.7%
VRSN Verisign Inc. 0.00% 1,374 $334K Reduce -0.8%
CSCO Cisco Systems Inc. 0.00% 4,354 $323K Reduce -57.0%
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.00% 13,000 $323K No change
SFM Sprouts Farmers Market Inc. 0.00% 4,000 $319K Reduce -11.1%
TASK Taskus Inc. Class A 0.00% 26,800 $316K Reduce -76.9%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.00% 3,445 $313K Add +53.9%
MGA Magna International Inc. 0.00% 5,141 $274K Add +1.3%
UNFI United Natural Foods Inc. 0.00% 7,500 $252K New
PL Planet Labs PBC 0.00% 12,500 $246K New
PNR Pentair PLC 0.00% 2,348 $245K Add +0.6%
LDOS Leidos Holdings Inc. 0.00% 1,325 $239K No change
ICLR Icon PLC 0.00% 1,300 $237K No change
CCJ Cameco Corp. 0.00% 2,565 $235K Reduce -61.2%
PNC PNC Financial Services Group 0.00% 1,110 $232K Reduce -1.0%
NTR Nutrien Ltd. 0.00% 3,712 $229K Add +3.2%
STT State Street Corp. 0.00% 1,691 $218K Reduce -1.7%
PODD Insulet Corp. 0.00% 750 $213K No change
BRK.B Berkshire Hathaway Inc. Class B 0.00% 497 $210K Reduce -87.6%
EMN Eastman Chemical Co. 0.00% 3,000 $191K No change
URI United Rentals Inc. 0.00% 235 $190K No change
MRNA Moderna Inc. 0.00% 6,005 $177K Reduce -67.4%
TXT Textron Inc. 0.00% 2,000 $174K New
IR Ingersoll-Rand Inc. 0.00% 2,151 $170K Reduce -98.2%
EW Edwards Lifesciences Corp. 0.00% 1,939 $165K Reduce -26.8%
ERII Energy Recovery Inc. 0.00% 12,000 $162K No change
GES Guess? Inc. 0.00% 9,600 $161K New
SOLV Solventum Corp. 0.00% 1,991 $158K Add +8950.0%
LNTH Lantheus Holdings Inc. 0.00% 2,250 $150K No change
CHKP Check Point Software Tech 0.00% 682 $127K No change
VITL Vital Farms Inc. 0.00% 3,600 $115K Add +71.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.00% 441 $112K Reduce -96.9%
CRL Charles River Laboratories 0.00% 561 $112K Reduce -2.6%
ALC Alcon Inc. filed as ALCON AG 0.00% 1,200 $96K Reduce -85.0%
MCHI iShares MSCI China ETF 0.00% 1,500 $90K Reduce -88.6%
APD Air Products & Chemicals Inc. 0.00% 400 $85K Reduce -18.4%
TD Toronto-Dominion Bank 0.00% 875 $83K No change
LOW Lowe's Cos Inc. 0.00% 264 $64K Reduce -32.1%
ZEO Zeo Energy Corp. 0.00% 43,761 $48K No change
CTLP Cantaloupe Inc. 0.00% 3,720 $40K Reduce -89.0%
BABA Alibaba Group Holding-SP ADR 0.00% 295 $39K Reduce -92.0%
OTEX Open Text Corp. 0.00% 1,114 $36K No change
CTSH Cognizant Tech Solutions-A 0.00% 431 $36K No change
STX Seagate Technology Holdings 0.00% 128 $35K Reduce -99.4%
GLW Corning Inc. 0.00% 360 $32K No change
SNA Snap-on Inc. 0.00% 90 $31K No change
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.00% 337 $31K No change
OMC Omnicom Group 0.00% 360 $29K No change
YUM Yum! Brands Inc. 0.00% 184 $28K No change
RTX RTX Corp. 0.00% 173 $28K Reduce -90.0%
GEN Gen Digital Inc. 0.00% 1,009 $27K No change
BR Broadridge Financial Solutio 0.00% 115 $26K No change
MAA Mid-America Apartment Comm 0.00% 182 $25K Reduce -95.5%
NTAP Netapp Inc. 0.00% 236 $25K No change
WSM Williams-Sonoma Inc. 0.00% 137 $24K No change
TSCO Tractor Supply Company 0.00% 469 $23K No change
RF Regions Financial Corp. 0.00% 838 $23K Reduce -18.6%
GLDM SPDR Gold Minishares Trust 0.00% 300 $22K No change
SLB SLB Ltd. filed as SLB LIMITED 0.00% 580 $20K Reduce -94.8%
EBAY eBay Inc. 0.00% 213 $19K No change
LMT Lockheed Martin Corp. 0.00% 42 $18K Reduce -94.1%
ITT Itt Inc. 0.00% 110 $16K No change
CAH Cardinal Health Inc. 0.00% 66 $14K Reduce -99.5%
PLYM Plymouth Industrial REIT Inc. 0.00% 600 $13K No change
COPX Global X Copper Miners ETF 0.00% 207 $13K New
XOM Exxon Mobil Corp. 0.00% 120 $13K Reduce -98.2%
TSLA Tesla Inc. 0.00% 30 $11K Reduce -99.3%
COR Cencora Inc. 0.00% 33 $11K Add +65.0%
GD General Dynamics Corp. 0.00% 38 $11K Reduce -90.3%
WDC Western Digital Corp. 0.00% 62 $11K Reduce -19.5%
COIN Coinbase Global Inc. Class A 0.00% 50 $10K Reduce -96.7%
RMD Resmed Inc. 0.00% 37 $9K Add +68.2%
AER Aercap Holdings NV 0.00% 56 $8K No change
SYF Synchrony Financial 0.00% 92 $8K No change
HUBB Hubbell Inc. 0.00% 15 $7K No change
JBL Jabil Inc. 0.00% 29 $7K No change
TOST Toast Inc. Class A 0.00% 181 $6K Reduce -35.6%
NBIS Nebius Group NV 0.00% 80 $6K Reduce -94.3%
EME Emcor Group Inc. 0.00% 10 $6K No change
FTI Technipfmc PLC 0.00% 150 $6K Reduce -99.0%
LII Lennox International Inc. 0.00% 12 $6K No change
GRMN Garmin Ltd. 0.00% 28 $6K Reduce -64.1%
AMRZ Amrize Ltd. 0.00% 116 $5K Reduce -98.4%
SNOW Snowflake Inc. 0.00% 25 $5K Reduce -99.8%
BMY Bristol-Myers Squibb Co. 0.00% 89 $4K Reduce -95.1%
SOLS Solstice Adv Materials Inc. 0.00% 82 $4K Reduce -81.4%
THCH TH International Ltd./Cayman 0.00% 1,427 $4K No change
TWLO Twilio Inc. Class A 0.00% 25 $3K Reduce -66.7%
HAS Hasbro Inc. 0.00% 40 $3K Reduce -81.8%
MAT Mattel Inc. 0.00% 160 $3K New
CVAC Curevac NV 0.00% 700 $3K Reduce -17.6%
MO Altria Group Inc. 0.00% 50 $2K Reduce -66.7%
CHEER HLDG INC 0.00% 1,759 $2K New
SW Smurfit Westrock PLC 0.00% 36 $1K Reduce -99.9%
KD Kyndryl Holdings Inc. 0.00% 40 $868 Reduce -58.3%
GEHC GE Healthcare Technology 0.00% 8 $564 Reduce -93.5%
PLUG Plug Power Inc. 0.00% 221 $420 Reduce -98.5%
NGVT Ingevity Corp. 0.00% 6 $307 No change
RIG Transocean Ltd. 0.00% 67 $242 No change
WAB Wabtec Corp. 0.00% 1 $184 Reduce -99.9%
EMBC Embecta Corp. 0.00% 12 $119 No change

Options reported separately and not counted above: NVDA calls ($223.8M), DB puts ($12.4M), JPM puts ($1.8M), GS puts ($1.3M), HD puts ($1.3M), MS puts ($1.2M), MCD puts ($1.1M), IBM puts ($1.0M), AXP puts ($962K), C puts ($934K), PFE puts ($921K), WFC puts ($839K), and 19 more.

Other holdings (8): bonds, preferreds, convertibles and warrants · $47.5M (not counted above)
SecurityClassShares / PrincipalValueChange
AIRBNB INC (ABNB 0 03/15/26) NOTE 3/1 · principal 18,000,000$17.8MNo change
ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) NOTE 2.250% 6/0 · principal 9,000,000$8.5MNew
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 8,500,000$7.7MNew
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) NOTE 3.250%12/1 · principal 5,800,000$5.5MNo change
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal 3,000,000$3.7MNo change
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) NOTE 3.500% 3/0 · principal 2,500,000$2.1MNew
TRIPADVISOR INC (TRIP 0.25 04/01/26) NOTE 0.250% 4/0 · principal 2,000,000$2.0MNo change
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 18,180$80KNo change

Total filed on the 13F, all lines: $6.9B.

Portfolio Sells Q3 2025 → Q4 2025

RACE Ferrari NV Reduce -11.2% 3.30% −1.42
MSFT Microsoft Corp. Reduce -17.3% 6.48% −1.29
AMZN Amazon.com Inc. Reduce -29.8% 3.95% −1.00
ORCL Oracle Corp. Reduce -48.0% 0.62% −0.97
NVDA Nvidia Corp. Reduce -19.1% 6.28% −0.88
LIN Linde PLC Reduce -49.8% 0.65% −0.72
ETN Eaton Corp. PLC Reduce -31.8% 1.20% −0.70
COST Costco Wholesale Corp. Reduce -54.6% 0.56% −0.68
GOOGL Alphabet Inc. Class A Reduce -40.8% 2.90% −0.61
AAPL Apple Inc. Reduce -23.6% 3.88% −0.54
META Meta Platforms Inc. Class A Reduce -18.2% 1.86% −0.49
WMT Walmart Inc. Reduce -36.1% 1.16% −0.40
NFLX Netflix Inc. Reduce -6.9% 1.29% −0.37
HD Home Depot Inc. Reduce -95.5% 0.01% −0.36
CRH CRH PLC Reduce -20.8% 1.94% −0.36
ORLY O'reilly Automotive Inc. Sold out 0.00% −0.34
TT Trane Technologies PLC Reduce -71.3% 0.13% −0.33
MSI Motorola Solutions Inc. Reduce -52.1% 0.22% −0.30
SNPS Synopsys Inc. Reduce -78.3% 0.08% −0.30
V Visa Inc. Class A Reduce -19.9% 2.15% −0.28
FISV Fiserv Inc. Sold out 0.00% −0.22
ACN Accenture PLC Class A Reduce -61.6% 0.18% −0.21
ARM Arm Holdings PLC-ADR Reduce -79.4% 0.04% −0.20
PANW Palo Alto Networks Inc. Reduce -25.1% 0.53% −0.19
MCD McDonald's Corp. Reduce -47.6% 0.23% −0.19
VRNA Verona Pharma Ltd. Sold out 0.00% −0.19
DHR Danaher Corp. Reduce -45.7% 0.35% −0.17
SYK Stryker Corp. Reduce -65.4% 0.09% −0.17
CME Cme Group Inc. Reduce -72.3% 0.07% −0.17
CP Canadian Pacific Kansas City Reduce -96.6% 0.01% −0.15
DE Deere & Co. Reduce -60.2% 0.11% −0.15
KO The Coca-Cola Co. Reduce -22.8% 0.94% −0.13
IR Ingersoll-Rand Inc. Reduce -98.2% 0.00% −0.13
TSM Taiwan Semiconductor-SP ADR Reduce -22.6% 1.28% −0.12
CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.12
CASY Casey's General Stores Inc. Sold out 0.00% −0.11
VRT Vertiv Holdings Co. Class A Reduce -57.5% 0.09% −0.10
PGR Progressive Corp. Reduce -40.4% 0.13% −0.09
CDNS Cadence Design SYS Inc. Reduce -40.8% 0.12% −0.09
BSX Boston Scientific Corp. Reduce -14.7% 0.73% −0.09
ALE Allete Inc. Sold out 0.00% −0.09
TDG Transdigm Group Inc. Sold out 0.00% −0.08
ETNB 89BIO Inc. Sold out 0.00% −0.08
SPOT Spotify Technology SA Reduce -16.7% 0.21% −0.08
K Kellanova Sold out 0.00% −0.08
MRUS Merus NV Sold out 0.00% −0.08
WNS WNS Holdings Ltd. Sold out 0.00% −0.07
SPNS Sapiens International Corp. Sold out 0.00% −0.07
STX Seagate Technology Holdings Reduce -99.4% 0.00% −0.07
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.07

Portfolio Buys Q3 2025 → Q4 2025

TTE Totalenergies SE New 6.37% +6.37
STLA Stellantis NV Add +39.0% 1.41% +0.61
GOOG Alphabet Inc. Class C Add +5.5% 1.87% +0.59
DB Deutsche Bank AG-Registered Add +64.9% 0.73% +0.36
ABBV Abbvie Inc. Add +344.9% 0.40% +0.32
AMD Advanced Micro Devices Add +107.5% 0.41% +0.28
GIB Cgi Inc. Add +2.2% 2.31% +0.27
GEV GE Vernova Inc. Add +65.9% 0.54% +0.25
BAC Bank of America Corp. Add +28.4% 0.79% +0.25
GS Goldman Sachs Group Inc. Add +41.5% 0.61% +0.25
CRM Salesforce Inc. Add +1.1% 1.36% +0.24
FER Ferrovial NV Add +117.1% 0.37% +0.23
DAY Dayforce Inc. Add +432.1% 0.26% +0.21
GM General Motors Co. Add +91.6% 0.33% +0.21
JCI Johnson Controls Internation Add +75757.3% 0.20% +0.20
RNAM Avidity Biosciences Inc. New 0.17% +0.17
CAT Caterpillar Inc. Add +92.5% 0.27% +0.17
JAMF Jamf Holding Corp. New 0.17% +0.17
CUK Carnival PLC-ADR New 0.16% +0.16
PINS Pinterest Inc. Class A Add +45680.4% 0.16% +0.16
AVDL Avadel Pharmaceuticals Ltd. New 0.15% +0.15
APH Amphenol Corp. Class A Add +75.4% 0.28% +0.14
AXP American Express Co. Add +0.1% 0.84% +0.14
FFIV F5 Inc. Add +125527.6% 0.14% +0.14
MS Morgan Stanley Add +1669.6% 0.13% +0.13
BHF Brighthouse Financial Inc. New 0.13% +0.13
HOLX Hologic Inc. Add +4214.8% 0.13% +0.12
BLK BlackRock Inc. Add +24.4% 0.59% +0.12
HUBS HubSpot Inc. Add +54314.3% 0.11% +0.11
SHOP Shopify Inc. Class A Add +4909.6% 0.11% +0.11
EA Electronic Arts Inc. Add +80433.3% 0.11% +0.11
TMUS T-Mobile US Inc. Add +30.2% 0.68% +0.10
NDAQ Nasdaq Inc. Add +102.5% 0.18% +0.10
C Citigroup Inc. Add +58152.4% 0.10% +0.10
BKNG Booking Holdings Inc. Add +4.5% 0.96% +0.10
MA Mastercard Inc. Class A Add +5.6% 0.84% +0.10
NEM Newmont Corp. Add +1.8% 0.43% +0.10
CSGS CSG Systems Intl Inc. New 0.09% +0.09
ADBE Adobe Inc. Add +133.8% 0.15% +0.09
RSG Republic Services Inc. Add +41.3% 0.31% +0.09
WFC Wells Fargo & Co. Add +10.5% 0.37% +0.09
TGNA Tegna Inc. New 0.09% +0.09
AL Sumisho Air Lease Corp. Add +255.0% 0.10% +0.07
EQX Equinox Gold Corp. Add +18.6% 0.20% +0.07
CFLT Confluent Inc. Class A New 0.07% +0.07
INTC Intel Corp. Add +435.5% 0.08% +0.07
PH Parker Hannifin Corp. Add +15.6% 0.22% +0.07
ONON On Holding AG Class A Add +9.1% 0.29% +0.06
WBD Warner Bros Discovery Inc. Add +466566.7% 0.06% +0.06
LRCX Lam Research Corp. Add +17.1% 0.15% +0.06

Options Activity Q3 2025 → Q4 2025

NVDA Nvidia Corp. call New 1,200,000 $223.8M
HD Home Depot Inc. put Add +15.6% 3,700 $1.3M
MS Morgan Stanley put Reduce -13.3% 6,500 $1.2M
MCD McDonald's Corp. put Reduce -22.2% 3,500 $1.1M
AXP American Express Co. put Reduce -50.9% 2,600 $962K
C Citigroup Inc. put Reduce -61.9% 8,000 $934K
PFE Pfizer Inc. put Add +146.7% 37,000 $921K
AZO AutoZone Inc. put Sold out 200 $864Kbefore exit
WFC Wells Fargo & Co. put Reduce -48.6% 9,000 $839K
ORCL Oracle Corp. put Add +42.3% 3,700 $721K
CAH Cardinal Health Inc. put Reduce -50.0% 2,500 $514K
AAPL Apple Inc. put Sold out 2,000 $509Kbefore exit
TSN Tyson Foods Inc. Class A put New 5,000 $293K
META Meta Platforms Inc. Class A put New 300 $198K
WMT Walmart Inc. put Reduce -25.0% 1,500 $167K
BARCLAYS PLC put New 120,000 $16K
GRINDR INC call New 120,000 $9K

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

ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) NOTE 2.250% 6/0 · principal New 9,000,000 $8.5M
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal New 8,500,000 $7.7M
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) NOTE 3.500% 3/0 · principal New 2,500,000 $2.1M

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