HBK Investments L P
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), HBK Investments L P reported 105 stock positions worth $6.0 billion. Its top holding was Cyberark Software Ltd./Israel (CYBR) at 18.8% of the portfolio, followed by Verona Pharma (VRNA, 7.5%) and Chart Industries (GTLS, 7.1%). Compared with Q2 2025, it opened 61 new positions, sold out of 46, added to 16 and reduced 16. The biggest buy was a new position in Cyberark Software Ltd./Israel (CYBR) and the biggest sale an exit from Hess (HES).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001011443
- Portfolio Value
- $6.0B (Q3 2025)
- SEC Filing
- 0001011443-25-000037 ↗ filed Nov 14, 2025
Holdings Value
Holdings 105 stocks · $6.0B
| CYBR Cyberark Software Ltd./Israel | 18.82% | 2,350,000 | $1.1B | New |
| VRNA Verona Pharma Ltd. | 7.54% | 4,263,576 | $455.0M | New |
| GTLS Chart Industries Inc. | 7.06% | 2,127,875 | $425.9M | New |
| NSC Norfolk Southern Corp. | 6.33% | 1,270,000 | $381.5M | New |
| LBRDK Liberty Broadband-C | 5.98% | 5,675,000 | $360.6M | New |
| INFA Informatica Inc. Class A | 5.34% | 12,973,197 | $322.3M | Add +56.3% |
| DAY Dayforce Inc. | 4.91% | 4,300,000 | $296.2M | New |
| IPG Interpublic Group of Cos Inc. | 4.90% | 10,580,062 | $295.3M | Add +76.6% |
| MRUS Merus NV | 4.45% | 2,850,000 | $268.3M | New |
| COOP Mr Cooper Group Inc. | 3.36% | 950,000 | $202.5M | New |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 2.90% | 2,750,000 | $175.0M | New |
| MTSR Metsera Inc. | 2.78% | 3,200,000 | $167.5M | New |
| K Kellanova | 2.72% | 2,000,000 | $164.0M | Reduce -77.0% |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 2.49% | 1,967,992 | $150.1M | New |
| AHL Aspen Insurance Holdings Class A | 2.20% | 3,613,639 | $132.7M | New |
| FYBR Frontier Communications Pare | 2.18% | 3,525,000 | $131.7M | New |
| ARKB ARK 21SHARES Bitcoin ETF | 2.05% | 3,252,037 | $123.6M | Reduce -0.5% |
| SCS Steelcase Inc. Class A | 1.58% | 5,546,945 | $95.4M | New |
| SPNS Sapiens International Corp. | 1.39% | 1,950,865 | $83.9M | New |
| VRNT Verint Systems Inc. | 0.91% | 2,722,862 | $55.1M | New |
| UBER Uber Technologies Inc. | 0.81% | 497,243 | $48.7M | Add +3.7% |
| FETH Fidelity Ethereum Fund | 0.78% | 1,126,139 | $46.8M | Add +41.8% |
| NWSA News Corp. Class A | 0.61% | 1,203,557 | $37.0M | Add +4.1% |
| WBD Warner Bros Discovery Inc. | 0.57% | 1,750,000 | $34.2M | Reduce -2.0% |
| FBTC Fidelity Wise Origin Bitcoin | 0.55% | 331,272 | $33.1M | Reduce -57.5% |
| SOLV Solventum Corp. | 0.47% | 385,642 | $28.2M | Add +6.5% |
| SNDK Sandisk Corp. | 0.44% | 234,694 | $26.3M | Reduce -14.4% |
| ETHW Bitwise Ethereum ETF | 0.41% | 833,682 | $24.9M | Add +60.8% |
| TFX Teleflex Inc. | 0.41% | 199,912 | $24.5M | New |
| CON Concentra Group Holdings Par | 0.30% | 870,548 | $18.2M | Reduce -0.6% |
| BATRK Atlanta Braves Holdings in-C | 0.29% | 427,731 | $17.8M | Add +1.6% |
| BITB Bitwise Bitcoin ETF | 0.26% | 251,122 | $15.6M | No change |
| DLR Digital Realty Trust Inc. | 0.20% | 71,022 | $12.3M | Add +92.0% |
| ETH Grayscale Ethereum Staking M | 0.20% | 311,141 | $12.2M | Reduce -70.8% |
| BTC Grayscale Bitcoin Mini ETF | 0.19% | 226,705 | $11.5M | No change |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.18% | 185,798 | $11.1M | Reduce -55.0% |
| HIMS Hims & Hers Health Inc. | 0.17% | 178,807 | $10.1M | New |
| ACHR Archer Aviation Inc. Class A | 0.16% | 1,000,000 | $9.6M | No change |
| LGN Legence Corp. Class A | 0.13% | 260,000 | $8.0M | New |
| BTSG Brightspring Health Services | 0.12% | 250,000 | $7.4M | Reduce -44.4% |
| JENA Jena Acquisition Corp. II - A | 0.12% | 700,000 | $7.1M | No change |
| PR Permian Resources Corp. Class A | 0.12% | 550,000 | $7.0M | New |
| TRIP Tripadvisor Inc. | 0.11% | 417,160 | $6.8M | Reduce -20.5% |
| AEXA American Exceptionalism Class A | 0.09% | 500,000 | $5.5M | New |
| DJT Trump Media & Technology Gro | 0.09% | 314,716 | $5.2M | New |
| BEAG Bold Eagle Acquisition Cor-A | 0.09% | 496,589 | $5.2M | Reduce -0.7% |
| GTEN Gores Holdings X Inc. Class A | 0.08% | 500,000 | $5.1M | New |
| CEPF Cantor Equity Partners Class A | 0.08% | 499,999 | $5.1M | New |
| AACB Artius II Acquisition Inc. Class A | 0.08% | 499,998 | $5.1M | Reduce 0.0% |
| DMIIU Drugs Made in America Acquis | 0.08% | 500,000 | $5.0M | New |
| LION Lionsgate Studios Corp. | 0.08% | 698,555 | $4.8M | Add +89.0% |
| ETHV Vaneck Ethereum ETF | 0.07% | 72,028 | $4.4M | New |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.07% | 54,870 | $4.3M | New |
| LLYVA Liberty Media Corp.-Liberty-A | 0.07% | 45,482 | $4.3M | Reduce -75.5% |
| SKYA Skyai Inc. filed as SHARPS TECHNOLOGY INC | 0.07% | 769,231 | $4.2M | New |
| CAEP Cantor Equity Partners III-A | 0.07% | 400,000 | $4.1M | No change |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 0.07% | 400,000 | $4.1M | No change |
| PMTR Perimeter Acquis Corp. I Class A | 0.07% | 400,000 | $4.1M | No change |
| WAY Waystar Holding Corp. | 0.06% | 100,000 | $3.8M | New |
| NTSK Netskope Inc. Class A | 0.06% | 160,000 | $3.6M | New |
| WDC Western Digital Corp. | 0.06% | 28,749 | $3.5M | Add +10.4% |
| STUB Stubhub Holdings Inc. Class A | 0.06% | 200,000 | $3.4M | New |
| HNGE Hinge Health Inc. Class A | 0.05% | 65,000 | $3.2M | Add +62.5% |
| FCRS.U Futurecrest Acquisition Corp. | 0.05% | 300,000 | $3.2M | New |
| SDHI Siddhi Acquisition Corp. Class A | 0.05% | 300,000 | $3.0M | No change |
| SOCA Solarius Capital Acquis Class A | 0.05% | 300,000 | $3.0M | New |
| CVLT Commvault Systems Inc. | 0.05% | 14,400 | $2.7M | New |
| ONCH 1RT Acquisition Corp. Class A | 0.04% | 249,304 | $2.6M | New |
| EVTL Vertical Aerospace Ltd. | 0.04% | 500,000 | $2.6M | New |
| NIO Nio Inc. - ADR | 0.04% | 334,760 | $2.6M | New |
| HVMCU Highview Merger Corp. | 0.04% | 250,000 | $2.5M | New |
| PAII Pyrophyte Acquisition Corp. Class A | 0.04% | 250,000 | $2.5M | New |
| NWL Newell Brands Inc. | 0.04% | 448,699 | $2.4M | New |
| B Barrick Mining Corp. | 0.04% | 65,000 | $2.1M | New |
| BCSS.U Bain Capital GSS Investment | 0.03% | 200,000 | $2.0M | New |
| NWS News Corp. Class B | 0.03% | 57,586 | $2.0M | New |
| SFD Smithfield Foods Inc. | 0.03% | 80,000 | $1.9M | New |
| SCCO Southern Copper Corp. | 0.03% | 15,151 | $1.8M | Add +1.0% |
| SLG SL Green Realty Corp. | 0.03% | 28,741 | $1.7M | New |
| WOLF Wolfspeed Inc. | 0.03% | 58,826 | $1.7M | New |
| OMDA Omada Health Inc. | 0.03% | 75,000 | $1.7M | No change |
| OLN Olin Corp. | 0.03% | 63,212 | $1.6M | New |
| GME Gamestop Corp. Class A | 0.03% | 57,713 | $1.6M | Add +102.3% |
| LITE Lumentum Holdings Inc. | 0.03% | 9,500 | $1.5M | New |
| CEPT Cantor Equity Partners Class A | 0.02% | 141,445 | $1.5M | Reduce -5.7% |
| RIG Transocean Ltd. | 0.02% | 475,000 | $1.5M | New |
| EZET Franklin Ethereum ETF | 0.02% | 39,678 | $1.3M | New |
| FIGX Figx Capital Acquisition C-A | 0.02% | 125,002 | $1.2M | No change |
| CEPO Cantor Equity Partners I-A | 0.02% | 110,000 | $1.2M | Reduce -37.1% |
| FOX Fox Corp. Class B | 0.02% | 20,000 | $1.1M | New |
| IWM iShares Russell 2000 ETF | 0.02% | 4,433 | $1.1M | New |
| PCAP Procap Acquisition Corp. Class A | 0.02% | 100,002 | $1.0M | No change |
| HCMA HCM III Acquisition Cor Class A | 0.02% | 100,002 | $1.0M | New |
| GT Goodyear Tire & Rubber Co. | 0.02% | 122,000 | $913K | New |
| COCO The Vita Coco Co. Inc. | 0.01% | 20,000 | $849K | New |
| TETH 21SHARES Etherm Stak ETF-Usd | 0.01% | 40,215 | $836K | New |
| ALNY Alnylam Pharmaceuticals Inc. | 0.01% | 1,231 | $561K | New |
| VIA Via Transportation Inc. Class A | 0.01% | 10,000 | $481K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.01% | 697 | $464K | New |
| RKLB Rocket Lab Corp. | 0.01% | 9,200 | $441K | Add +46.0% |
Options reported separately and not counted above: SPY calls ($454.0M), NVDA puts ($285.4M), SPY puts ($207.0M), GLD puts ($173.8M), QQQ puts ($144.7M), IWM puts ($101.3M), TSM puts ($94.7M), NBIS puts ($77.8M), AGNC puts ($68.1M), XOP puts ($65.4M), CPA puts ($55.5M), MSTR puts ($42.9M), and 80 more.
Other holdings (48): bonds, preferreds, convertibles and warrants · $754.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TWO HARBORS INV CORP (TWO 6.25 01/15/26) | NOTE 6.250% 1/1 · principal | 62,077,000 | $61.4M | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 37,500,000 | $57.1M | New |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 24,805,000 | $51.5M | Add +264.5% |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 22,500,000 | $50.2M | Reduce -48.0% |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 16,107,000 | $36.1M | Reduce -15.7% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 19,500,000 | $35.9M | Reduce -15.2% |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 25,150,000 | $35.3M | New |
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | 22,500,000 | $29.5M | Reduce -18.2% |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 25,000,000 | $28.3M | Add +150.0% |
| SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28) | NOTE 3.250%11/0 · principal | 19,000,000 | $28.0M | No change |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | 24,957,000 | $26.9M | No change |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 40,750,000 | $26.1M | No change |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 27,500,000 | $25.3M | Add +37.5% |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 21,840,000 | $21.8M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 20,000,000 | $21.5M | New |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 20,250,000 | $21.0M | No change |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 18,500,000 | $20.5M | New |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 13,000,000 | $20.5M | Reduce -59.4% |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 18,056,000 | $18.0M | No change |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | 17,382,000 | $16.7M | Reduce -12.6% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 16,500,000 | $15.8M | Add +17.9% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 15,000,000 | $15.3M | Add +50.0% |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | 8,447,000 | $14.1M | Reduce -68.1% |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 12,500,000 | $11.9M | Add +47.1% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 10,723,000 | $11.3M | Reduce -38.7% |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 9,300,000 | $9.8M | Reduce -61.7% |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 7,500,000 | $7.3M | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 100,000 | $7.0M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 100,000 | $6.8M | No change |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 100,000 | $5.2M | No change |
| PAR TECHNOLOGY CORP (PAR 2.875 04/15/26) | NOTE 2.875% 4/1 · principal | 4,830,000 | $5.1M | No change |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 100,000 | $5.0M | No change |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 5,000,000 | $3.8M | No change |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 2,500,000 | $2.5M | No change |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 1,000,000 | $982K | Reduce -69.2% |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 700,000 | $140K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 500,000 | $120K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 200,000 | $120K | New |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | 200,000 | $108K | No change |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 125,000 | $95K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 300,000 | $60K | No change |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 62,501 | $56K | New |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 125,000 | $44K | New |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 150,000 | $37K | New |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 125,000 | $34K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 33,334 | $24K | New |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 33,334 | $22K | Add +0.1% |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 62,501 | $15K | No change |
Total filed on the 13F, all lines: $6.8B.
Portfolio Sells Q2 2025 → Q3 2025
| HES Hess Corp. | Sold out | 0.00% | −25.17 |
| K Kellanova | Reduce -77.0% | 2.72% | −11.23 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −8.28 |
| AZEK The Azek Co. Inc. | Sold out | 0.00% | −7.72 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −5.05 |
| CHX Championx Corp. | Sold out | 0.00% | −4.26 |
| DNB Dun & Bradstreet Holdings Inc. | Sold out | 0.00% | −3.95 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −2.99 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −2.48 |
| GMS GMS Inc. | Sold out | 0.00% | −1.55 |
| RDFN Redfin Corp. | Sold out | 0.00% | −1.28 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −1.22 |
| ANSS Ansys Inc. | Sold out | 0.00% | −1.21 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -57.5% | 0.55% | −0.93 |
| RYAAY Ryanair Holdings PLC-SP ADR | Sold out | 0.00% | −0.49 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -55.0% | 0.18% | −0.39 |
| ARKB ARK 21SHARES Bitcoin ETF | Reduce -0.5% | 2.05% | −0.31 |
| ETH Grayscale Ethereum Staking M | Reduce -70.8% | 0.20% | −0.31 |
| FUN Six Flags Entertainment Corp. | Sold out | 0.00% | −0.24 |
| MRP Millrose Properties | Sold out | 0.00% | −0.23 |
| LLYVA Liberty Media Corp.-Liberty-A | Reduce -75.5% | 0.07% | −0.23 |
| QXO Qxo Inc. | Sold out | 0.00% | −0.22 |
| PGRE Paramount Group Inc. | Sold out | 0.00% | −0.16 |
| SITM Sitime Corp. | Sold out | 0.00% | −0.10 |
| BTSG Brightspring Health Services | Reduce -44.4% | 0.12% | −0.09 |
| ETHA iShares Ethereum Trust ETF | Sold out | 0.00% | −0.08 |
| SIRI Sirius XM Holdings Inc. | Sold out | 0.00% | −0.07 |
| DDOG Datadog Inc. Class A | Sold out | 0.00% | −0.07 |
| CON Concentra Group Holdings Par | Reduce -0.6% | 0.30% | −0.06 |
| LCID Lucid Group Inc. | Reduce -86.8% | 0.01% | −0.05 |
| MNTN MNTN Inc. Class A | Sold out | 0.00% | −0.04 |
| KRT Karat Packaging Inc. | Sold out | 0.00% | −0.04 |
| GPN Global Payments Inc. | Sold out | 0.00% | −0.03 |
| WELL Welltower Inc. | Sold out | 0.00% | −0.03 |
| TRIP Tripadvisor Inc. | Reduce -20.5% | 0.11% | −0.03 |
| CHYM Chime Financial Inc. Class A | Sold out | 0.00% | −0.02 |
| CEPO Cantor Equity Partners I-A | Reduce -37.1% | 0.02% | −0.02 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.02 |
| BSTZ BlackRock Sci & Tech TRM TR | Sold out | 0.00% | −0.02 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.02 |
| ALLT Allot Ltd. | Sold out | 0.00% | −0.02 |
| VIK Viking Holdings Ltd. | Sold out | 0.00% | −0.02 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.02 |
| BEAG Bold Eagle Acquisition Cor-A | Reduce -0.7% | 0.09% | −0.02 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −0.02 |
| BTX BlackRock Tech & Priv Eqty | Sold out | 0.00% | −0.02 |
| AACB Artius II Acquisition Inc. Class A | Reduce 0.0% | 0.08% | −0.02 |
| VOYG Voyager Technologies Inc. Class A | Sold out | 0.00% | −0.01 |
| TTAN Servicetitan Inc. Class A | Sold out | 0.00% | −0.01 |
| CEPT Cantor Equity Partners Class A | Reduce -5.7% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| CYBR Cyberark Software Ltd./Israel | New | 18.82% | +18.82 |
| VRNA Verona Pharma Ltd. | New | 7.54% | +7.54 |
| GTLS Chart Industries Inc. | New | 7.06% | +7.06 |
| NSC Norfolk Southern Corp. | New | 6.33% | +6.33 |
| LBRDK Liberty Broadband-C | New | 5.98% | +5.98 |
| DAY Dayforce Inc. | New | 4.91% | +4.91 |
| MRUS Merus NV | New | 4.45% | +4.45 |
| COOP Mr Cooper Group Inc. | New | 3.36% | +3.36 |
| AL Sumisho Air Lease Corp. | New | 2.90% | +2.90 |
| MTSR Metsera Inc. | New | 2.78% | +2.78 |
| WNS WNS Holdings Ltd. | New | 2.49% | +2.49 |
| AHL Aspen Insurance Holdings Class A | New | 2.20% | +2.20 |
| FYBR Frontier Communications Pare | New | 2.18% | +2.18 |
| IPG Interpublic Group of Cos Inc. | Add +76.6% | 4.90% | +1.93 |
| SCS Steelcase Inc. Class A | New | 1.58% | +1.58 |
| SPNS Sapiens International Corp. | New | 1.39% | +1.39 |
| INFA Informatica Inc. Class A | Add +56.3% | 5.34% | +1.26 |
| VRNT Verint Systems Inc. | New | 0.91% | +0.91 |
| TFX Teleflex Inc. | New | 0.41% | +0.41 |
| FETH Fidelity Ethereum Fund | Add +41.8% | 0.78% | +0.37 |
| ETHW Bitwise Ethereum ETF | Add +60.8% | 0.41% | +0.22 |
| HIMS Hims & Hers Health Inc. | New | 0.17% | +0.17 |
| LGN Legence Corp. Class A | New | 0.13% | +0.13 |
| PR Permian Resources Corp. Class A | New | 0.12% | +0.12 |
| AEXA American Exceptionalism Class A | New | 0.09% | +0.09 |
| DJT Trump Media & Technology Gro | New | 0.09% | +0.09 |
| GTEN Gores Holdings X Inc. Class A | New | 0.08% | +0.08 |
| CEPF Cantor Equity Partners Class A | New | 0.08% | +0.08 |
| DMIIU Drugs Made in America Acquis | New | 0.08% | +0.08 |
| DLR Digital Realty Trust Inc. | Add +92.0% | 0.20% | +0.07 |
| ETHV Vaneck Ethereum ETF | New | 0.07% | +0.07 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.07% | +0.07 |
| SKYA Skyai Inc. | New | 0.07% | +0.07 |
| WAY Waystar Holding Corp. | New | 0.06% | +0.06 |
| NTSK Netskope Inc. Class A | New | 0.06% | +0.06 |
| STUB Stubhub Holdings Inc. Class A | New | 0.06% | +0.06 |
| FCRS.U Futurecrest Acquisition Corp. | New | 0.05% | +0.05 |
| SOCA Solarius Capital Acquis Class A | New | 0.05% | +0.05 |
| CVLT Commvault Systems Inc. | New | 0.05% | +0.05 |
| ONCH 1RT Acquisition Corp. Class A | New | 0.04% | +0.04 |
| EVTL Vertical Aerospace Ltd. | New | 0.04% | +0.04 |
| NIO Nio Inc. - ADR | New | 0.04% | +0.04 |
| HVMCU Highview Merger Corp. | New | 0.04% | +0.04 |
| PAII Pyrophyte Acquisition Corp. Class A | New | 0.04% | +0.04 |
| NWL Newell Brands Inc. | New | 0.04% | +0.04 |
| LION Lionsgate Studios Corp. | Add +89.0% | 0.08% | +0.04 |
| B Barrick Mining Corp. | New | 0.04% | +0.04 |
| BCSS.U Bain Capital GSS Investment | New | 0.03% | +0.03 |
| NWS News Corp. Class B | New | 0.03% | +0.03 |
| SFD Smithfield Foods Inc. | New | 0.03% | +0.03 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +127.2% | 681,500 | $454.0M |
| NVDA Nvidia Corp. | put | Add +334.1% | 1,529,400 | $285.4M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -47.1% | 310,700 | $207.0M |
| GLD SPDR Gold Shares | put | Reduce -26.7% | 488,900 | $173.8M |
| QQQ Invesco QQQ Trust Series 1 | put | Add +492.1% | 241,000 | $144.7M |
| IWM iShares Russell 2000 ETF | put | Add +38.0% | 418,500 | $101.3M |
| NBIS Nebius Group NV | put | Add +20.1% | 692,800 | $77.8M |
| AGNC AGNC Investment Corp. | put | Add +164.2% | 6,959,600 | $68.1M |
| XOP SS SPDR S&P Og Exp & Prod | put | Reduce -43.0% | 495,000 | $65.4M |
| CPA Copa Holdings SA Class A | put | Add +68.1% | 466,900 | $55.5M |
| MSTR Strategy Inc. | put | Reduce -63.6% | 133,000 | $42.9M |
| GME Gamestop Corp. Class A | put | Add +130.3% | 1,352,400 | $36.9M |
| CVX Chevron Corp. | call | Sold out | 249,300 | $35.7Mbefore exit |
| IBIT iShares Bitcoin Trust ETF | put | Reduce -49.9% | 522,600 | $34.0M |
| NLY Annaly Capital Management Inc. | put | Sold out | 1,725,000 | $32.5Mbefore exit |
| COST Costco Wholesale Corp. | put | Sold out | 31,600 | $31.3Mbefore exit |
| DDOG Datadog Inc. Class A | call | Add +30.0% | 200,200 | $28.5M |
| WMT Walmart Inc. | put | Sold out | 252,900 | $24.7Mbefore exit |
| TFX Teleflex Inc. | put | New | 200,000 | $24.5M |
| SIRI Sirius XM Holdings Inc. | call | Add +10.4% | 1,035,200 | $24.1M |
| CNK Cinemark Holdings Inc. | put | Reduce -41.4% | 834,600 | $23.4M |
| CNK Cinemark Holdings Inc. | call | Reduce -16.8% | 688,400 | $19.3M |
| HIMS Hims & Hers Health Inc. | put | New | 321,800 | $18.3M |
| TSLA Tesla Inc. | put | Reduce -28.7% | 39,700 | $17.7M |
| IWM iShares Russell 2000 ETF | call | Sold out | 80,200 | $17.3Mbefore exit |
| CVLT Commvault Systems Inc. | put | Reduce -67.7% | 75,300 | $14.2M |
| COIN Coinbase Global Inc. Class A | put | New | 40,500 | $13.7M |
| LDOS Leidos Holdings Inc. | put | Reduce -9.2% | 68,000 | $12.8M |
| FUN Six Flags Entertainment Corp. | put | Sold out | 400,000 | $12.2Mbefore exit |
| XOP SS SPDR S&P Og Exp & Prod | call | Sold out | 83,300 | $10.5Mbefore exit |
| TCOM Trip.com Group Ltd.-ADR | put | Reduce -10.8% | 123,600 | $9.3M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | Sold out | 84,000 | $9.2Mbefore exit |
| BAC Bank of America Corp. | put | New | 166,800 | $8.6M |
| GME Gamestop Corp. Class A | call | Reduce -20.7% | 305,600 | $8.3M |
| WBD Warner Bros Discovery Inc. | call | New | 415,000 | $8.1M |
| JPM JPMorgan Chase & Co. | put | New | 24,400 | $7.7M |
| GS Goldman Sachs Group Inc. | put | New | 9,400 | $7.5M |
| C Citigroup Inc. | put | New | 72,000 | $7.3M |
| JEF Jefferies Financial Group Inc. | put | New | 108,000 | $7.1M |
| SOLZ Solana ETF | put | New | 313,600 | $6.9M |
| SNDK Sandisk Corp. | put | Reduce -18.4% | 61,200 | $6.9M |
| TRIP Tripadvisor Inc. | put | Reduce -20.5% | 417,200 | $6.8M |
| CACI Caci International Inc. Class A | put | Reduce -9.0% | 13,200 | $6.6M |
| DJT Trump Media & Technology Gro | put | Reduce -11.1% | 390,300 | $6.4M |
| COIN Coinbase Global Inc. Class A | call | New | 17,800 | $6.0M |
| PLD Prologis Inc. | put | New | 50,000 | $5.7M |
| SAIC Science Applications Inte | put | Reduce -9.1% | 56,700 | $5.6M |
| UBER Uber Technologies Inc. | put | Reduce -19.4% | 52,100 | $5.1M |
| NIO Nio Inc. - ADR | put | Add +59.8% | 602,500 | $4.6M |
| IYR iShares US Real Estate ETF | put | Sold out | 46,700 | $4.4Mbefore exit |
Showing the first 50 of 93.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | New | 37,500,000 | $57.1M |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Add +264.5% | 24,805,000 | $51.5M |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | Reduce -48.0% | 22,500,000 | $50.2M |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | Reduce -15.7% | 16,107,000 | $36.1M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -15.2% | 19,500,000 | $35.9M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | New | 25,150,000 | $35.3M |
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | Reduce -18.2% | 22,500,000 | $29.5M |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | Add +150.0% | 25,000,000 | $28.3M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +37.5% | 27,500,000 | $25.3M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | New | 20,000,000 | $21.5M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | New | 18,500,000 | $20.5M |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | Reduce -59.4% | 13,000,000 | $20.5M |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | Reduce -12.6% | 17,382,000 | $16.7M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Add +17.9% | 16,500,000 | $15.8M |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | Add +50.0% | 15,000,000 | $15.3M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Sold out | 14,600,000 | $15.2Mbefore exit |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Sold out | 15,000,000 | $14.9Mbefore exit |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | Reduce -68.1% | 8,447,000 | $14.1M |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | Add +47.1% | 12,500,000 | $11.9M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Reduce -38.7% | 10,723,000 | $11.3M |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | Reduce -61.7% | 9,300,000 | $9.8M |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | New | 7,500,000 | $7.3M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | New | 100,000 | $7.0M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 100,000 | $3.8Mbefore exit |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | Reduce -69.2% | 1,000,000 | $982K |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | New | 200,000 | $120K |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | New | 62,501 | $56K |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | New | 125,000 | $44K |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | New | 150,000 | $37K |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | New | 33,334 | $24K |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | Add +0.1% | 33,334 | $22K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 128 | $7.8B | BLD, EA, PEN, NSC, KVUE |
| Q1 2026 | 160 | $7.3B | HOLX, EA, PEN, NSC, MASI |
| Q4 2025 | 112 | $8.5B | CYBR, EXAS, HOLX, NSC, DAY |
| Q3 2025Amended | 105 | $6.0B | CYBR, VRNA, GTLS, NSC, LBRDK |
| Q2 2025Amended | 91 | $5.0B | HES, K, BPMC, AZEK, ESGR |
| Q1 2025Amended | 74 | $5.0B | HES, K, ITCI, BERY, BECN |
| Q4 2024Amended | 74 | $4.3B | HES, K, SMAR, ALTR, EDR |
| Q3 2024Amended | 69 | $4.6B | HES, MRO, K, SWN, SRCL |
| Q2 2024Amended | 70 | $3.6B | HES, WRK, EDR, MRO, ETRN |
| Q1 2024Amended | 61 | $3.5B | PXD, HES, WRK, FBTC, AXONICS INC |