HBK Investments L P
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), HBK Investments L P reported 112 stock positions worth $8.5 billion. Its top holding was Cyberark Software Ltd./Israel (CYBR) at 12.9% of the portfolio, followed by Exact Sciences (EXAS, 9.2%) and Hologic (HOLX, 7.4%). Compared with Q3 2025, it opened 47 new positions, sold out of 40, added to 20 and reduced 23. The biggest buy was a new position in Exact Sciences (EXAS) and the biggest sale an exit from Verona Pharma (VRNA).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001011443
- Portfolio Value
- $8.5B (Q4 2025)
- SEC Filing
- 0001011443-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 112 stocks · $8.5B
| CYBR Cyberark Software Ltd./Israel | 12.88% | 2,450,000 | $1.1B | Add +4.3% |
| EXAS Exact Sciences Corp. | 9.15% | 7,646,637 | $776.6M | New |
| HOLX Hologic Inc. | 7.37% | 8,400,000 | $625.7M | New |
| NSC Norfolk Southern Corp. | 7.25% | 2,130,000 | $615.0M | Add +67.7% |
| DAY Dayforce Inc. | 6.40% | 7,850,000 | $542.9M | Add +82.6% |
| CFLT Confluent Inc. Class A | 5.34% | 15,000,000 | $453.6M | New |
| GTLS Chart Industries Inc. | 4.79% | 1,969,092 | $406.1M | Reduce -7.5% |
| EA Electronic Arts Inc. | 4.60% | 1,909,982 | $390.3M | New |
| CMA Comerica Inc. | 4.07% | 3,975,000 | $345.5M | New |
| RNAM Avidity Biosciences Inc. | 3.71% | 4,365,000 | $314.8M | New |
| FYBR Frontier Communications Pare | 3.50% | 7,800,000 | $296.9M | Add +121.3% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 3.48% | 4,602,260 | $295.6M | Add +67.3% |
| LBRDK Liberty Broadband-C | 3.38% | 5,908,691 | $287.2M | Add +4.1% |
| CDTX Cidara Therapeutics Inc. | 3.28% | 1,260,000 | $278.3M | New |
| WBD Warner Bros Discovery Inc. | 3.03% | 8,924,170 | $257.2M | Add +409.9% |
| FOLD Amicus Therapeutics Inc. | 2.56% | 15,250,000 | $217.2M | New |
| SNV Synovus Financial Corp. | 2.23% | 3,792,518 | $189.5M | New |
| AHL Aspen Insurance Holdings Class A | 1.97% | 4,500,000 | $166.9M | Add +24.5% |
| BHF Brighthouse Financial Inc. | 1.60% | 2,100,000 | $136.1M | New |
| TXNM TXNM Energy Inc. | 1.18% | 1,697,244 | $99.9M | New |
| ARKB ARK 21SHARES Bitcoin ETF | 0.67% | 1,966,887 | $57.1M | Reduce -39.5% |
| SNDK Sandisk Corp. | 0.66% | 234,697 | $55.7M | Add +0.0% |
| KVUE Kenvue Inc. | 0.52% | 2,535,001 | $43.7M | New |
| SIRI Sirius XM Holdings Inc. | 0.40% | 1,685,004 | $33.7M | New |
| FETH Fidelity Ethereum Fund | 0.39% | 1,126,139 | $33.3M | No change |
| NWSA News Corp. Class A | 0.36% | 1,183,664 | $30.9M | Reduce -1.6% |
| SOLV Solventum Corp. | 0.36% | 388,022 | $30.7M | Add +0.6% |
| TFX Teleflex Inc. | 0.28% | 192,372 | $23.5M | Reduce -3.8% |
| UBER Uber Technologies Inc. | 0.27% | 276,754 | $22.6M | Reduce -44.3% |
| LGN Legence Corp. Class A | 0.23% | 450,000 | $19.4M | Add +73.1% |
| ETHW Bitwise Ethereum ETF | 0.21% | 833,682 | $17.7M | No change |
| CON Concentra Group Holdings Par | 0.20% | 862,750 | $17.0M | Reduce -0.9% |
| BATRK Atlanta Braves Holdings in-C | 0.19% | 418,804 | $16.5M | Reduce -2.1% |
| PSKY Paramount Skydance Class B | 0.16% | 1,000,100 | $13.4M | New |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.14% | 185,796 | $11.9M | Reduce 0.0% |
| BTSG Brightspring Health Services | 0.13% | 300,000 | $11.2M | Add +20.0% |
| MDLN Medline Inc. Class A | 0.12% | 235,000 | $9.9M | New |
| ACHR Archer Aviation Inc. Class A | 0.11% | 1,250,000 | $9.4M | Add +25.0% |
| CWAN Clearwater Analytics HDS-A | 0.11% | 373,303 | $9.0M | New |
| ETH Grayscale Ethereum Staking M | 0.10% | 311,141 | $8.7M | No change |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.10% | 105,288 | $8.4M | Add +91.9% |
| MSTR Strategy Inc. | 0.09% | 51,564 | $7.8M | New |
| JENA Jena Acquisition Corp. II - A | 0.08% | 699,900 | $7.1M | Reduce -0.0% |
| DDOG Datadog Inc. Class A | 0.08% | 50,000 | $6.8M | New |
| GME Gamestop Corp. Class A | 0.08% | 336,553 | $6.8M | Add +483.1% |
| CRWV Coreweave Inc. Class A | 0.08% | 93,800 | $6.7M | New |
| TRIP Tripadvisor Inc. | 0.07% | 417,160 | $6.1M | No change |
| CHTR Charter Communications Inc. Class A | 0.07% | 28,590 | $6.0M | New |
| DLR Digital Realty Trust Inc. | 0.07% | 36,842 | $5.7M | Reduce -48.1% |
| BOX Box Inc. Class A | 0.07% | 186,766 | $5.6M | New |
| LION Lionsgate Studios Corp. | 0.06% | 584,659 | $5.3M | Reduce -16.3% |
| CC The Chemours Co. | 0.06% | 439,051 | $5.2M | New |
| AACB Artius II Acquisition Inc. Class A | 0.06% | 499,998 | $5.1M | No change |
| GTEN Gores Holdings X Inc. Class A | 0.06% | 500,000 | $5.1M | No change |
| ALUB.U Alussa Energy Acquisition Co. | 0.06% | 500,000 | $5.0M | New |
| ADACU American Drive Acquisition C | 0.06% | 500,000 | $5.0M | New |
| WDC Western Digital Corp. | 0.06% | 28,747 | $5.0M | Reduce -0.0% |
| DMII Drugs Made in America Acquis | 0.06% | 500,000 | $5.0M | No change |
| BEAG Bold Eagle Acquisition Cor-A | 0.06% | 450,000 | $4.8M | Reduce -9.4% |
| CEPF Cantor Equity Partners Class A | 0.05% | 450,000 | $4.6M | Reduce -10.0% |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 0.05% | 396,951 | $4.1M | Reduce -0.8% |
| KBONU Karbon Capital Partners Corp. | 0.05% | 400,000 | $4.0M | New |
| AEXA American Exceptionalism Class A | 0.05% | 350,000 | $4.0M | Reduce -30.0% |
| CHKP Check Point Software Tech | 0.05% | 20,680 | $3.8M | New |
| PMTR Perimeter Acquis Corp. I Class A | 0.04% | 360,000 | $3.7M | Reduce -10.0% |
| SBXE.U Silverbox Corp. V | 0.04% | 350,000 | $3.5M | New |
| HNGE Hinge Health Inc. Class A | 0.04% | 70,000 | $3.3M | Add +7.7% |
| CTEV Claritev Corp. | 0.04% | 75,000 | $3.2M | New |
| ETHV Vaneck Ethereum ETF | 0.04% | 72,028 | $3.1M | No change |
| SDHI Siddhi Acquisition Corp. Class A | 0.04% | 300,000 | $3.1M | No change |
| CCXIU Churchill Capital Corp. Xi | 0.04% | 300,000 | $3.1M | New |
| CAEP Cantor Equity Partners III-A | 0.04% | 300,000 | $3.1M | Reduce -25.0% |
| IMSR Terrestrial Energy Inc. | 0.04% | 500,000 | $3.1M | New |
| FCRS Futurecrest Acquisition Class A | 0.04% | 299,916 | $3.0M | No change |
| SOCA Solarius Capital Acquis Class A | 0.04% | 300,000 | $3.0M | No change |
| BETA Beta Technologies Inc. Class A | 0.03% | 100,000 | $2.8M | New |
| TTEK Tetra Tech Inc. | 0.03% | 76,400 | $2.6M | New |
| ONCH 1RT Acquisition Corp. Class A | 0.03% | 249,304 | $2.5M | No change |
| PAII Pyrophyte Acquisition Corp. Class A | 0.03% | 250,000 | $2.5M | No change |
| HVMC Highview Merger Corp. Class A | 0.03% | 250,000 | $2.5M | No change |
| CVLT Commvault Systems Inc. | 0.03% | 19,700 | $2.5M | Add +36.8% |
| LMRI Lumexa Imaging Holdings Inc. | 0.03% | 120,000 | $2.2M | New |
| SAC.U Safeguard Acquisition Corp. | 0.02% | 200,000 | $2.0M | New |
| BCSS Bain Capital GSS Inv- A | 0.02% | 200,005 | $2.0M | No change |
| GPACU General Purpose Acquisition | 0.02% | 200,000 | $2.0M | New |
| SOFI Sofi Technologies Inc. | 0.02% | 75,000 | $2.0M | New |
| XZO Exzeo Group Inc. | 0.02% | 80,000 | $1.9M | New |
| ANDG Andersen Group Inc. Class A | 0.02% | 74,500 | $1.9M | New |
| ASTS Ast Spacemobile Inc. | 0.02% | 25,546 | $1.9M | New |
| NIO Nio Inc. - ADR | 0.02% | 350,648 | $1.8M | Add +4.8% |
| CDNL Cardinal Infrastructure GR-A | 0.02% | 68,995 | $1.7M | New |
| CEPV Cantor Equity Partners Class A | 0.02% | 150,000 | $1.5M | New |
| KRSP Rice Acquisition Corp. 3-A | 0.02% | 149,619 | $1.5M | New |
| SLG SL Green Realty Corp. | 0.02% | 32,074 | $1.5M | Add +11.6% |
| SKYA Skyai Inc. filed as SHARPS TECHNOLOGY INC | 0.02% | 769,231 | $1.4M | No change |
| HIMS Hims & Hers Health Inc. | 0.02% | 42,088 | $1.4M | Reduce -76.5% |
| FIGX Figx Capital Acquisition C-A | 0.01% | 125,002 | $1.3M | No change |
| CEPO Cantor Equity Partners I-A | 0.01% | 110,000 | $1.1M | No change |
| LWLG Lightwave Logic Inc. | 0.01% | 350,000 | $1.1M | New |
| PENN Penn Entertainment Inc. | 0.01% | 71,467 | $1.1M | New |
Options reported separately and not counted above: NVDA puts ($1.1B), SPY calls ($573.8M), SPY puts ($287.1M), QQQ calls ($206.0M), GLD puts ($193.8M), IBIT puts ($172.6M), QQQ puts ($150.0M), TSM puts ($103.0M), IWM puts ($73.4M), TSLA puts ($50.5M), NBIS puts ($46.6M), GS puts ($44.7M), and 84 more.
Other holdings (52): bonds, preferreds, convertibles and warrants · $749.3M (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 | $62.2M | No change |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 50,800,000 | $60.1M | New |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 24,805,000 | $56.9M | No change |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 47,396,000 | $39.0M | New |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 34,000,000 | $38.2M | Add +23.6% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 37,200,000 | $38.2M | New |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 22,500,000 | $37.4M | No change |
| ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) | NOTE 4.250%11/1 · principal | 24,100,000 | $36.6M | New |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 27,200,000 | $31.9M | Add +8.8% |
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | 22,500,000 | $30.3M | No change |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 22,650,000 | $28.6M | Reduce -9.9% |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 21,840,000 | $21.8M | No change |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 20,250,000 | $21.4M | No change |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 22,500,000 | $21.4M | Add +50.0% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 20,000,000 | $20.6M | No change |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 18,505,000 | $19.6M | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 12,000,000 | $18.7M | Reduce -38.5% |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 10,000,000 | $17.0M | Reduce -23.1% |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 38,250,000 | $16.3M | Reduce -6.1% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 16,500,000 | $15.7M | No change |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 6,500,000 | $13.3M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 200,000 | $13.2M | Add +100.0% |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 10,107,000 | $12.8M | Reduce -37.3% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 11,500,000 | $12.6M | Reduce -37.8% |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 9,300,000 | $8.4M | No change |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 150,000 | $7.7M | Add +50.0% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 150,000 | $7.5M | New |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 7,500,000 | $7.3M | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 4,375,000 | $7.3M | Reduce -88.3% |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | 6,382,000 | $6.3M | Reduce -63.3% |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 5,250,000 | $5.7M | New |
| PAR TECHNOLOGY CORP (PAR 2.875 04/15/26) | NOTE 2.875% 4/1 · principal | 4,830,000 | $4.9M | No change |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 5,000,000 | $4.1M | No change |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 50,000 | $2.7M | New |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 2,500,000 | $2.5M | No change |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | 200,000 | $197K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 500,000 | $185K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 200,000 | $142K | No change |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 646,400 | $126K | Reduce -7.7% |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 125,000 | $116K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 300,000 | $75K | No change |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 500,000 | $70K | No change |
| FCRS.WS Futurecrest Acquisition Corp. | *W EXP 09/30/203 | 75,001 | $55K | No change |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 125,000 | $50K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 150,000 | $42K | No change |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 62,501 | $36K | No change |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | 125,000 | $34K | No change |
| BCSS.WS Bain Capital GSS Investment | *W EXP 01/01/202 | 40,001 | $26K | No change |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | 25,000 | $20K | New |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 62,501 | $17K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 33,334 | $16K | No change |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 33,334 | $10K | No change |
Total filed on the 13F, all lines: $9.2B.
Portfolio Sells Q3 2025 → Q4 2025
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −7.54 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −5.34 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −4.90 |
| MRUS Merus NV | Sold out | 0.00% | −4.45 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −3.36 |
| MTSR Metsera Inc. | Sold out | 0.00% | −2.78 |
| K Kellanova | Sold out | 0.00% | −2.72 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −2.49 |
| GTLS Chart Industries Inc. | Reduce -7.5% | 4.79% | −2.28 |
| SCS Steelcase Inc. Class A | Sold out | 0.00% | −1.58 |
| SPNS Sapiens International Corp. | Sold out | 0.00% | −1.39 |
| ARKB ARK 21SHARES Bitcoin ETF | Reduce -39.5% | 0.67% | −1.38 |
| VRNT Verint Systems Inc. | Sold out | 0.00% | −0.91 |
| FBTC Fidelity Wise Origin Bitcoin | Sold out | 0.00% | −0.55 |
| UBER Uber Technologies Inc. | Reduce -44.3% | 0.27% | −0.54 |
| BITB Bitwise Bitcoin ETF | Sold out | 0.00% | −0.26 |
| NWSA News Corp. Class A | Reduce -1.6% | 0.36% | −0.25 |
| BTC Grayscale Bitcoin Mini ETF | Sold out | 0.00% | −0.19 |
| HIMS Hims & Hers Health Inc. | Reduce -76.5% | 0.02% | −0.15 |
| DLR Digital Realty Trust Inc. | Reduce -48.1% | 0.07% | −0.14 |
| TFX Teleflex Inc. | Reduce -3.8% | 0.28% | −0.13 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.12 |
| CON Concentra Group Holdings Par | Reduce -0.9% | 0.20% | −0.10 |
| BATRK Atlanta Braves Holdings in-C | Reduce -2.1% | 0.19% | −0.10 |
| DJT Trump Media & Technology Gro | Sold out | 0.00% | −0.09 |
| LLYVA Liberty Media Corp.-Liberty-A | Sold out | 0.00% | −0.07 |
| WAY Waystar Holding Corp. | Sold out | 0.00% | −0.06 |
| NTSK Netskope Inc. Class A | Sold out | 0.00% | −0.06 |
| STUB Stubhub Holdings Inc. Class A | Sold out | 0.00% | −0.06 |
| AEXA American Exceptionalism Class A | Reduce -30.0% | 0.05% | −0.04 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce 0.0% | 0.14% | −0.04 |
| EVTL Vertical Aerospace Ltd. | Sold out | 0.00% | −0.04 |
| B Barrick Mining Corp. | Sold out | 0.00% | −0.04 |
| JENA Jena Acquisition Corp. II - A | Reduce -0.0% | 0.08% | −0.03 |
| NWS News Corp. Class B | Sold out | 0.00% | −0.03 |
| CAEP Cantor Equity Partners III-A | Reduce -25.0% | 0.04% | −0.03 |
| SFD Smithfield Foods Inc. | Sold out | 0.00% | −0.03 |
| SCCO Southern Copper Corp. | Sold out | 0.00% | −0.03 |
| NWL Newell Brands Inc. | Reduce -55.4% | 0.01% | −0.03 |
| CEPF Cantor Equity Partners Class A | Reduce -10.0% | 0.05% | −0.03 |
| BEAG Bold Eagle Acquisition Cor-A | Reduce -9.4% | 0.06% | −0.03 |
| OMDA Omada Health Inc. | Sold out | 0.00% | −0.03 |
| OLN Olin Corp. | Sold out | 0.00% | −0.03 |
| LITE Lumentum Holdings Inc. | Sold out | 0.00% | −0.03 |
| WOLF Wolfspeed Inc. | Reduce -72.5% | 0.00% | −0.02 |
| CEPT Cantor Equity Partners Class A | Sold out | 0.00% | −0.02 |
| RIG Transocean Ltd. | Sold out | 0.00% | −0.02 |
| PMTR Perimeter Acquis Corp. I Class A | Reduce -10.0% | 0.04% | −0.02 |
| TMS Teamshares Inc. | Reduce -0.8% | 0.05% | −0.02 |
| FOX Fox Corp. Class B | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| EXAS Exact Sciences Corp. | New | 9.15% | +9.15 |
| HOLX Hologic Inc. | New | 7.37% | +7.37 |
| CFLT Confluent Inc. Class A | New | 5.34% | +5.34 |
| EA Electronic Arts Inc. | New | 4.60% | +4.60 |
| CMA Comerica Inc. | New | 4.07% | +4.07 |
| RNAM Avidity Biosciences Inc. | New | 3.71% | +3.71 |
| CDTX Cidara Therapeutics Inc. | New | 3.28% | +3.28 |
| FOLD Amicus Therapeutics Inc. | New | 2.56% | +2.56 |
| WBD Warner Bros Discovery Inc. | Add +409.9% | 3.03% | +2.46 |
| SNV Synovus Financial Corp. | New | 2.23% | +2.23 |
| BHF Brighthouse Financial Inc. | New | 1.60% | +1.60 |
| DAY Dayforce Inc. | Add +82.6% | 6.40% | +1.49 |
| FYBR Frontier Communications Pare | Add +121.3% | 3.50% | +1.32 |
| TXNM TXNM Energy Inc. | New | 1.18% | +1.18 |
| NSC Norfolk Southern Corp. | Add +67.7% | 7.25% | +0.92 |
| AL Sumisho Air Lease Corp. | Add +67.3% | 3.48% | +0.58 |
| KVUE Kenvue Inc. | New | 0.52% | +0.52 |
| SIRI Sirius XM Holdings Inc. | New | 0.40% | +0.40 |
| SNDK Sandisk Corp. | Add +0.0% | 0.66% | +0.22 |
| PSKY Paramount Skydance Class B | New | 0.16% | +0.16 |
| MDLN Medline Inc. Class A | New | 0.12% | +0.12 |
| CWAN Clearwater Analytics HDS-A | New | 0.11% | +0.11 |
| LGN Legence Corp. Class A | Add +73.1% | 0.23% | +0.10 |
| MSTR Strategy Inc. | New | 0.09% | +0.09 |
| DDOG Datadog Inc. Class A | New | 0.08% | +0.08 |
| CRWV Coreweave Inc. Class A | New | 0.08% | +0.08 |
| CHTR Charter Communications Inc. Class A | New | 0.07% | +0.07 |
| BOX Box Inc. Class A | New | 0.07% | +0.07 |
| CC The Chemours Co. | New | 0.06% | +0.06 |
| ALUB.U Alussa Energy Acquisition Co. | New | 0.06% | +0.06 |
| ADACU American Drive Acquisition C | New | 0.06% | +0.06 |
| GME Gamestop Corp. Class A | Add +483.1% | 0.08% | +0.05 |
| KBONU Karbon Capital Partners Corp. | New | 0.05% | +0.05 |
| CHKP Check Point Software Tech | New | 0.05% | +0.05 |
| SBXE.U Silverbox Corp. V | New | 0.04% | +0.04 |
| CTEV Claritev Corp. | New | 0.04% | +0.04 |
| CCXIU Churchill Capital Corp. Xi | New | 0.04% | +0.04 |
| IMSR Terrestrial Energy Inc. | New | 0.04% | +0.04 |
| BETA Beta Technologies Inc. Class A | New | 0.03% | +0.03 |
| TTEK Tetra Tech Inc. | New | 0.03% | +0.03 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +91.9% | 0.10% | +0.03 |
| LMRI Lumexa Imaging Holdings Inc. | New | 0.03% | +0.03 |
| SAC.U Safeguard Acquisition Corp. | New | 0.02% | +0.02 |
| GPACU General Purpose Acquisition | New | 0.02% | +0.02 |
| SOFI Sofi Technologies Inc. | New | 0.02% | +0.02 |
| XZO Exzeo Group Inc. | New | 0.02% | +0.02 |
| ANDG Andersen Group Inc. Class A | New | 0.02% | +0.02 |
| ASTS Ast Spacemobile Inc. | New | 0.02% | +0.02 |
| CDNL Cardinal Infrastructure GR-A | New | 0.02% | +0.02 |
| CEPV Cantor Equity Partners Class A | New | 0.02% | +0.02 |
Options Activity Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | put | Add +288.4% | 5,939,500 | $1.1B |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +23.5% | 841,400 | $573.8M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +35.5% | 421,000 | $287.1M |
| QQQ Invesco QQQ Trust Series 1 | call | New | 335,400 | $206.0M |
| IBIT iShares Bitcoin Trust ETF | put | Add +565.3% | 3,476,600 | $172.6M |
| QQQ Invesco QQQ Trust Series 1 | put | Add +1.3% | 244,100 | $150.0M |
| IWM iShares Russell 2000 ETF | put | Reduce -28.8% | 298,200 | $73.4M |
| XOP SS SPDR S&P Og Exp & Prod | put | Sold out | 495,000 | $65.4Mbefore exit |
| TSLA Tesla Inc. | put | Add +182.9% | 112,300 | $50.5M |
| NBIS Nebius Group NV | put | Reduce -19.6% | 556,800 | $46.6M |
| GS Goldman Sachs Group Inc. | put | Add +440.4% | 50,800 | $44.7M |
| LTM Latam Airlines Group SA-ADR | put | Reduce -25.0% | 625,000 | $33.8M |
| WBD Warner Bros Discovery Inc. | put | New | 1,086,900 | $31.3M |
| OMF Onemain Holdings Inc. | put | New | 453,800 | $30.7M |
| GME Gamestop Corp. Class A | put | Reduce -8.9% | 1,232,400 | $24.7M |
| WBD Warner Bros Discovery Inc. | call | Add +105.3% | 851,800 | $24.5M |
| TFX Teleflex Inc. | put | Sold out | 200,000 | $24.5Mbefore exit |
| AGNC AGNC Investment Corp. | put | Reduce -74.1% | 1,800,000 | $19.3M |
| MSTR Strategy Inc. | put | Reduce -8.3% | 122,000 | $18.5M |
| ARCC Ares Capital Corp. | put | Add +366.7% | 700,000 | $14.2M |
| XLF SS Financial Select Sector | put | New | 255,300 | $14.0M |
| COIN Coinbase Global Inc. Class A | put | Sold out | 40,500 | $13.7Mbefore exit |
| LDOS Leidos Holdings Inc. | put | Sold out | 68,000 | $12.8Mbefore exit |
| CHTR Charter Communications Inc. Class A | put | New | 49,500 | $10.3M |
| HIMS Hims & Hers Health Inc. | put | Reduce -6.5% | 300,800 | $9.8M |
| GME Gamestop Corp. Class A | call | Add +48.3% | 453,200 | $9.1M |
| CVLT Commvault Systems Inc. | put | Reduce -9.6% | 68,100 | $8.5M |
| PMT Pennymac Mortgage Investment | put | Reduce -17.9% | 666,700 | $8.4M |
| ECHO Echostar Corp. Class A | put | New | 75,800 | $8.2M |
| JPM JPMorgan Chase & Co. | put | Reduce -4.1% | 23,400 | $7.5M |
| COP Conocophillips | put | Sold out | 76,700 | $7.3Mbefore exit |
| JEF Jefferies Financial Group Inc. | put | Sold out | 108,000 | $7.1Mbefore exit |
| EOG EOG Resources Inc. | put | Sold out | 61,300 | $6.9Mbefore exit |
| SNDK Sandisk Corp. | put | Sold out | 61,200 | $6.9Mbefore exit |
| CRWV Coreweave Inc. Class A | put | New | 93,800 | $6.7M |
| CNK Cinemark Holdings Inc. | call | Reduce -58.1% | 288,400 | $6.7M |
| CACI Caci International Inc. Class A | put | Sold out | 13,200 | $6.6Mbefore exit |
| DJT Trump Media & Technology Gro | put | Sold out | 390,300 | $6.4Mbefore exit |
| BXSL Blackstone Secured Lending F | put | Add +133.8% | 233,800 | $6.2M |
| COIN Coinbase Global Inc. Class A | call | Sold out | 17,800 | $6.0Mbefore exit |
| OPEN Opendoor Technologies Inc. | put | New | 1,015,000 | $5.9M |
| SIRI Sirius XM Holdings Inc. | call | Reduce -72.5% | 285,100 | $5.7M |
| SAIC Science Applications Inte | put | Sold out | 56,700 | $5.6Mbefore exit |
| RSP Invesco S&P 500 Equal Weight | put | New | 29,400 | $5.6M |
| IWD iShares Russell 1000 Value E | put | New | 26,600 | $5.6M |
| UBER Uber Technologies Inc. | call | Add +47.1% | 64,000 | $5.2M |
| UBER Uber Technologies Inc. | put | Add +22.8% | 64,000 | $5.2M |
| RIVN Rivian Automotive Inc. Class A | put | New | 262,000 | $5.2M |
| BAH Booz Allen Hamilton Holdings | put | Sold out | 41,100 | $4.1Mbefore exit |
| AGNC AGNC Investment Corp. | call | Sold out | 400,000 | $3.9Mbefore exit |
Showing the first 50 of 104.
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
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | New | 50,800,000 | $60.1M |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | New | 47,396,000 | $39.0M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +23.6% | 34,000,000 | $38.2M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | New | 37,200,000 | $38.2M |
| ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) | NOTE 4.250%11/1 · principal | New | 24,100,000 | $36.6M |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | Add +8.8% | 27,200,000 | $31.9M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | Reduce -9.9% | 22,650,000 | $28.6M |
| SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28) | NOTE 3.250%11/0 · principal | Sold out | 19,000,000 | $28.0Mbefore exit |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | Sold out | 24,957,000 | $26.9Mbefore exit |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | Add +50.0% | 22,500,000 | $21.4M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | New | 18,505,000 | $19.6M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -38.5% | 12,000,000 | $18.7M |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | Sold out | 18,056,000 | $18.0Mbefore exit |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | Reduce -23.1% | 10,000,000 | $17.0M |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | Reduce -6.1% | 38,250,000 | $16.3M |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | Sold out | 8,447,000 | $14.1Mbefore exit |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | New | 6,500,000 | $13.3M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +100.0% | 200,000 | $13.2M |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | Reduce -37.3% | 10,107,000 | $12.8M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Reduce -37.8% | 11,500,000 | $12.6M |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | Sold out | 12,500,000 | $11.9Mbefore exit |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Sold out | 10,723,000 | $11.3Mbefore exit |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Add +50.0% | 150,000 | $7.7M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | New | 150,000 | $7.5M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Reduce -88.3% | 4,375,000 | $7.3M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Sold out | 100,000 | $7.0Mbefore exit |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | Reduce -63.3% | 6,382,000 | $6.3M |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | New | 5,250,000 | $5.7M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Sold out | 100,000 | $5.2Mbefore exit |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | New | 50,000 | $2.7M |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | Sold out | 1,000,000 | $982Kbefore exit |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | Reduce -7.7% | 646,400 | $126K |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | Sold out | 125,000 | $34Kbefore exit |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | New | 25,000 | $20K |
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 |