HSBC Holdings PLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), HSBC Holdings PLC reported 2,191 stock positions worth $169.0 billion. Its top holding was Nvidia (NVDA) at 7.0% of the portfolio, followed by Microsoft (MSFT, 6.6%) and Apple (AAPL, 5.7%). Compared with Q2 2025, it opened 167 new positions, sold out of 492, added to 962 and reduced 1,030. The biggest buy was Microsoft (MSFT, shares +17%) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0000873630
- Portfolio Value
- $169.0B (Q3 2025)
- SEC Filing
- 0000873630-25-000009 ↗ filed Nov 13, 2025
Holdings Value
Holdings 2,191 stocks · $169.0B
| NVDA Nvidia Corp. | 7.03% | 63,684,941 | $11.9B | Reduce -4.4% |
| MSFT Microsoft Corp. | 6.64% | 21,688,386 | $11.2B | Add +16.7% |
| AAPL Apple Inc. | 5.65% | 37,537,871 | $9.6B | Reduce -5.4% |
| AMZN Amazon.com Inc. | 3.28% | 25,286,961 | $5.5B | Add +1.8% |
| META Meta Platforms Inc. Class A | 2.39% | 5,494,612 | $4.0B | Add +2.6% |
| AVGO Broadcom Inc. | 2.32% | 11,919,132 | $3.9B | Reduce -0.4% |
| GOOGL Alphabet Inc. Class A | 2.16% | 15,060,192 | $3.7B | Add +3.0% |
| TSLA Tesla Inc. | 2.10% | 8,014,284 | $3.5B | Add +6.5% |
| GOOG Alphabet Inc. Class C | 1.89% | 13,122,414 | $3.2B | Reduce -6.6% |
| V Visa Inc. Class A | 1.47% | 7,281,197 | $2.5B | Add +3.5% |
| JPM JPMorgan Chase & Co. | 1.27% | 6,813,518 | $2.1B | Reduce -2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.05% | 3,538,294 | $1.8B | Add +7.5% |
| JNJ Johnson & Johnson | 1.02% | 9,338,454 | $1.7B | Add +3.2% |
| UNH Unitedhealth Group Inc. | 0.90% | 4,395,293 | $1.5B | Reduce -16.1% |
| LLY Eli Lilly & Co. | 0.85% | 1,889,384 | $1.4B | Reduce -5.3% |
| BABA Alibaba Group Holding-SP ADR | 0.85% | 8,020,518 | $1.4B | Reduce -3.0% |
| ORCL Oracle Corp. | 0.84% | 5,061,762 | $1.4B | Add +33.5% |
| FER Ferrovial NV | 0.80% | 23,735,885 | $1.4B | Reduce -6.5% |
| CSCO Cisco Systems Inc. | 0.79% | 19,566,783 | $1.3B | Add +8.4% |
| HD Home Depot Inc. | 0.77% | 3,230,090 | $1.3B | Add +3.9% |
| PDD PDD Holdings Inc. | 0.66% | 8,407,658 | $1.1B | Add +94.4% |
| NFLX Netflix Inc. | 0.64% | 910,922 | $1.1B | Reduce -7.4% |
| COST Costco Wholesale Corp. | 0.62% | 1,123,958 | $1.0B | Add +5.0% |
| XOM Exxon Mobil Corp. | 0.59% | 8,804,092 | $992.3M | Add +0.3% |
| WMT Walmart Inc. | 0.55% | 9,030,900 | $932.0M | Reduce -13.0% |
| MA Mastercard Inc. Class A | 0.54% | 1,608,150 | $914.1M | Add +1.6% |
| ABBV Abbvie Inc. | 0.54% | 3,949,436 | $913.0M | Reduce -4.2% |
| PLTR Palantir Technologies Inc. Class A | 0.52% | 4,847,885 | $881.3M | Reduce -10.8% |
| CRM Salesforce Inc. | 0.48% | 3,450,214 | $818.0M | Add +4.0% |
| PG The Procter & Gamble Co. | 0.48% | 5,302,985 | $815.4M | Reduce -7.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.45% | 14,632,916 | $752.7M | Reduce -0.7% |
| MRK Merck & Co. Inc. | 0.42% | 8,387,858 | $701.9M | Add +7.7% |
| QCOM Qualcomm Inc. | 0.41% | 4,140,280 | $688.5M | Add +8.4% |
| AMD Advanced Micro Devices | 0.40% | 4,162,033 | $672.3M | Reduce -11.0% |
| KO The Coca-Cola Co. | 0.38% | 9,643,068 | $639.9M | Reduce -19.1% |
| GE General Electric filed as GE AEROSPACE | 0.38% | 2,114,361 | $635.1M | Add +10.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 2,216,521 | $626.0M | Reduce -8.5% |
| WFC Wells Fargo & Co. | 0.36% | 7,383,669 | $616.9M | Add +4.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.36% | 5,290,735 | $605.3M | Add +2.1% |
| NOW ServiceNow Inc. | 0.36% | 655,595 | $602.8M | Add +11.1% |
| CVX Chevron Corp. | 0.34% | 3,757,480 | $583.0M | Add +16.1% |
| BKNG Booking Holdings Inc. | 0.34% | 105,212 | $568.1M | Add +18.4% |
| ADBE Adobe Inc. | 0.33% | 1,604,130 | $565.7M | Add +4.1% |
| PEP Pepsico Inc. | 0.33% | 3,991,475 | $560.8M | Reduce -9.2% |
| TXN Texas Instruments Inc. | 0.33% | 3,039,408 | $557.5M | Reduce -4.3% |
| MU Micron Technology Inc. | 0.33% | 3,304,190 | $551.4M | Add +14.9% |
| AXP American Express Co. | 0.32% | 1,638,688 | $543.9M | Reduce -5.0% |
| C Citigroup Inc. | 0.32% | 5,354,730 | $540.7M | Add +7.7% |
| GS Goldman Sachs Group Inc. | 0.30% | 648,162 | $514.8M | Reduce -12.6% |
| ABT Abbott Laboratories | 0.30% | 3,828,536 | $512.4M | Add +2.2% |
| T AT&T Inc. | 0.30% | 18,092,672 | $511.0M | Add +14.5% |
| VZ Verizon Communications Inc. | 0.30% | 11,556,288 | $507.5M | Add +4.0% |
| SPGI S&P Global Inc. | 0.30% | 1,033,488 | $502.3M | Add +5.1% |
| EEM iShares MSCI Emerging Market | 0.29% | 9,113,366 | $484.3M | Add +491.5% |
| AMAT Applied Materials Inc. | 0.28% | 2,331,113 | $476.8M | Reduce -6.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 3,276,853 | $473.5M | Add +4.1% |
| MCD McDonald's Corp. | 0.28% | 1,547,083 | $470.1M | Reduce -2.4% |
| MS Morgan Stanley | 0.28% | 2,959,751 | $469.3M | Reduce -12.2% |
| PM Philip Morris International | 0.27% | 2,804,322 | $455.4M | Add +3.8% |
| INTU Intuit Inc. | 0.27% | 664,356 | $454.1M | Add +3.7% |
| GILD Gilead Sciences Inc. | 0.26% | 3,945,025 | $440.2M | Add +17.4% |
| CAT Caterpillar Inc. | 0.26% | 917,312 | $437.0M | Reduce -0.5% |
| PFE Pfizer Inc. | 0.26% | 17,239,983 | $435.6M | Add +7.8% |
| ANET Arista Networks Inc. | 0.26% | 2,991,336 | $434.9M | Add +3.3% |
| LRCX Lam Research Corp. | 0.25% | 3,222,662 | $429.6M | Add +5.9% |
| WELL Welltower Inc. | 0.25% | 2,361,289 | $420.6M | Add +12.0% |
| INTC Intel Corp. | 0.24% | 12,266,114 | $411.7M | Add +3.1% |
| AMGN Amgen Inc. | 0.24% | 1,426,894 | $402.0M | Add +27.9% |
| BLK BlackRock Inc. | 0.23% | 338,741 | $394.6M | Reduce -8.4% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 795,575 | $384.6M | Reduce -7.1% |
| UBER Uber Technologies Inc. | 0.23% | 3,929,751 | $384.3M | Reduce -12.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.23% | 1,376,081 | $381.7M | Reduce -67.0% |
| RTX RTX Corp. | 0.22% | 2,257,334 | $377.3M | Add +0.1% |
| PLD Prologis Inc. | 0.22% | 3,231,872 | $369.7M | Add +8.2% |
| SCHW Schwab (charles) Corp. | 0.21% | 3,793,185 | $361.2M | Add +10.9% |
| IVV iShares Core S&P 500 ETF | 0.21% | 536,752 | $359.2M | Reduce -24.2% |
| ISRG Intuitive Surgical Inc. | 0.21% | 793,190 | $354.7M | Reduce -8.0% |
| GEV GE Vernova Inc. | 0.20% | 562,903 | $344.9M | Add +30.1% |
| SE Sea Ltd.-ADR | 0.20% | 1,905,561 | $340.4M | Reduce -1.9% |
| COF Capital One Financial Corp. | 0.20% | 1,568,338 | $332.5M | Reduce -14.3% |
| BSX Boston Scientific Corp. | 0.20% | 3,397,044 | $331.7M | Add +16.2% |
| LOW Lowe's Cos Inc. | 0.20% | 1,311,781 | $329.6M | Reduce -2.7% |
| EQIX Equinix Inc. | 0.19% | 419,376 | $327.8M | Add +9.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.19% | 493,474 | $327.2M | Reduce -3.5% |
| DHR Danaher Corp. | 0.19% | 1,622,406 | $319.9M | Add +5.6% |
| HON Honeywell International Inc. | 0.19% | 1,518,552 | $318.6M | Add +6.5% |
| MKTX Marketaxess Holdings Inc. | 0.19% | 1,798,766 | $315.4M | Add +2977.4% |
| PGR Progressive Corp. | 0.19% | 1,272,621 | $313.4M | Reduce -0.1% |
| CMI Cummins Inc. | 0.18% | 739,105 | $311.8M | Add +7.9% |
| CME Cme Group Inc. | 0.18% | 1,135,566 | $307.5M | Add +10.2% |
| CMCSA Comcast Corp. Class A | 0.18% | 9,617,973 | $303.1M | Add +11.8% |
| APP AppLovin Corp. Class A | 0.18% | 422,474 | $302.7M | Add +107.1% |
| APH Amphenol Corp. Class A | 0.18% | 2,452,367 | $302.3M | Add +28.0% |
| KLAC KLA Corp. | 0.18% | 279,972 | $300.2M | Reduce -14.2% |
| UNP Union Pacific Corp. | 0.18% | 1,265,084 | $298.8M | Reduce -2.4% |
| AMT American Tower Corp. | 0.18% | 1,551,844 | $298.3M | Add +6.2% |
| TMUS T-Mobile US Inc. | 0.18% | 1,244,778 | $298.0M | Add +1.7% |
| ADP Automatic Data Processing | 0.18% | 1,011,693 | $296.3M | Reduce -14.4% |
| ADSK Autodesk Inc. | 0.17% | 918,050 | $291.5M | Add +2.9% |
| NEE Nextera Energy Inc. | 0.17% | 3,844,816 | $290.3M | Reduce -17.7% |
Options reported separately and not counted above: UNH puts ($807.7M), MSFT puts ($785.5M), TSLA puts ($555.5M), PDD puts ($512.9M), NVDA puts ($500.7M), ORCL puts ($341.0M), EEM puts ($326.1M), NVDA calls ($291.0M), TSM puts ($290.5M), SPY puts ($277.8M), TSM calls ($262.2M), BIDU puts ($261.3M), and 475 more.
Other holdings (25): bonds, preferreds, convertibles and warrants · $517.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 228,816,000 | $421.7M | Reduce -9.8% |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 35,000,000 | $34.7M | Reduce -3.3% |
| TSM Taiwan Semiconductor-SP ADR | SPONSORED ADS · principal | 56,944 | $15.9M | Reduce 0.0% |
| SHV iShares 0-1 Year Treasury Bo | TRUST ISHARE 0-1 · principal | 85,050 | $9.4M | Add +31.1% |
| EMHY iShares J.P. Morgan Em High | JP MRGN EM HI BD · principal | 152,300 | $6.0M | Add +20.1% |
| HDB HDFC Bank Ltd.-ADR | SPONSORED ADS · principal | 138,326 | $4.7M | Reduce -2.6% |
| SHY iShares 1-3 Year Treasury Bo | 1 3 YR TREAS BD · principal | 41,200 | $3.4M | Reduce -3.5% |
| IBN Icici Bank Ltd.-Spon ADR | ADR · principal | 111,620 | $3.4M | Reduce -2.4% |
| KB KB Financial Group Inc.-ADR | SPONSORED ADR · principal | 38,213 | $3.2M | Add +3.4% |
| BABA Alibaba Group Holding-SP ADR | SPONSORED ADS · principal | 15,583 | $2.8M | Add +0.2% |
| INFY Infosys Ltd.-SP ADR | SPONSORED ADR · principal | 151,645 | $2.5M | Reduce -0.1% |
| SJNK SS SPDR BB St Hi Yield ETF | ST TERM HIGH ETF · principal | 94,750 | $2.4M | Add +139.9% |
| ITUB Itau Unibanco H-Spon PRF ADR | SPON ADR REP PFD · principal | 247,949 | $1.8M | Reduce -43.0% |
| PDD PDD Holdings Inc. | SPONSORED ADS · principal | 13,081 | $1.7M | Reduce -8.4% |
| SPSB SS SPDR P St C Corp. ETF | ST SHOR CORP ETF · principal | 35,000 | $1.1M | No change |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | IBOXX INV CP ETF · principal | 6,500 | $725K | No change |
| EMLC Vaneck JPM Em Local Curr BND | JP MRGAN EM LOC · principal | 16,000 | $408K | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 13,178 | $325K | Reduce -0.4% |
| VWOB Vanguard Emerg MKTS Gov BND | EM MK GOV BD ETF · principal | 4,500 | $301K | No change |
| BEKE Ke Holdings Inc.-ADR | SPONSORED ADS · principal | 15,179 | $289K | Add +0.6% |
| SE Sea Ltd.-ADR | SPONSORD ADS · principal | 1,598 | $286K | Add +18.7% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 20,979 | $78K | No change |
| TME Tencent Music Entertainm-ADR | SPON ADS · principal | 3,163 | $74K | No change |
| EMB iShares JP Morgan Usd Emergi | JPMORGAN USD EMG · principal | 550 | $52K | No change |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | IBOXX HI YD ETF · principal | 100 | $8K | No change |
Total filed on the 13F, all lines: $169.5B.
Portfolio Sells Q2 2025 → Q3 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -67.0% | 0.23% | −0.39 |
| NFLX Netflix Inc. | Reduce -7.4% | 0.64% | −0.21 |
| EMB iShares JP Morgan Usd Emergi | Reduce -90.3% | 0.02% | −0.20 |
| TIP iShares Tips Bond ETF | Reduce -78.7% | 0.04% | −0.17 |
| KO The Coca-Cola Co. | Reduce -19.1% | 0.38% | −0.17 |
| UNH Unitedhealth Group Inc. | Reduce -16.1% | 0.90% | −0.16 |
| LLY Eli Lilly & Co. | Reduce -5.3% | 0.85% | −0.15 |
| PG The Procter & Gamble Co. | Reduce -7.7% | 0.48% | −0.11 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.10 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.10 |
| EWG iShares MSCI Germany ETF | Reduce -97.8% | 0.00% | −0.10 |
| WMT Walmart Inc. | Reduce -13.0% | 0.55% | −0.10 |
| TXN Texas Instruments Inc. | Reduce -4.3% | 0.33% | −0.10 |
| ISRG Intuitive Surgical Inc. | Reduce -8.0% | 0.21% | −0.09 |
| REET iShares Global REIT ETF | Sold out | 0.00% | −0.09 |
| IBM Intl Business Machines Corp. | Reduce -8.5% | 0.37% | −0.09 |
| TLT iShares 20+ Year Treasury BD | Reduce -51.9% | 0.07% | −0.09 |
| CI The Cigna Group | Reduce -28.2% | 0.11% | −0.08 |
| IVV iShares Core S&P 500 ETF | Reduce -24.2% | 0.21% | −0.07 |
| FER Ferrovial NV | Reduce -6.5% | 0.80% | −0.07 |
| XLF SS Financial Select Sector | Reduce -59.1% | 0.04% | −0.06 |
| GD General Dynamics Corp. | Reduce -36.5% | 0.13% | −0.06 |
| ADP Automatic Data Processing | Reduce -14.4% | 0.18% | −0.06 |
| VLTO Veralto Corp. | Reduce -50.4% | 0.05% | −0.06 |
| EWY iShares MSCI South Korea ETF | Reduce -92.2% | 0.00% | −0.06 |
| COF Capital One Financial Corp. | Reduce -14.3% | 0.20% | −0.06 |
| MCO Moody's Corp. | Reduce -17.2% | 0.14% | −0.05 |
| CPRT Copart Inc. | Reduce -28.5% | 0.08% | −0.05 |
| IYF iShares US Financials ETF | Sold out | 0.00% | −0.05 |
| FISV Fiserv Inc. | Reduce -8.4% | 0.08% | −0.05 |
| INDA iShares MSCI India ETF | Reduce -83.0% | 0.01% | −0.05 |
| IYR iShares US Real Estate ETF | Sold out | 0.00% | −0.05 |
| LNG Cheniere Energy Inc. | Reduce -19.4% | 0.12% | −0.05 |
| CMG Chipotle Mexican Grill Inc. | Reduce -5.1% | 0.07% | −0.05 |
| PYPL PayPal Holdings Inc. | Reduce -23.9% | 0.08% | −0.05 |
| CLX Clorox Company | Reduce -56.4% | 0.03% | −0.05 |
| UPS United Parcel Service Class B | Reduce -15.2% | 0.08% | −0.04 |
| MRSH Marsh & McLennan Cos | Reduce -11.8% | 0.13% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -12.9% | 0.17% | −0.04 |
| PEP Pepsico Inc. | Reduce -9.2% | 0.33% | −0.04 |
| FLUT Flutter Entertainment PLC-Di | Reduce -13.3% | 0.12% | −0.04 |
| ELV Elevance Health Inc. | Reduce -8.5% | 0.10% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -12.2% | 0.23% | −0.04 |
| HES Hess Corp. | Sold out | 0.00% | −0.04 |
| TSCO Tractor Supply Company | Reduce -43.8% | 0.05% | −0.04 |
| RSP Invesco S&P 500 Equal Weight | Reduce -89.9% | 0.00% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -2.2% | 1.27% | −0.04 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -0.7% | 0.15% | −0.04 |
| NEE Nextera Energy Inc. | Reduce -17.7% | 0.17% | −0.04 |
| WM Waste Management Inc. | Reduce -14.7% | 0.11% | −0.04 |
Portfolio Buys Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Add +16.7% | 6.64% | +0.67 |
| TSLA Tesla Inc. | Add +6.5% | 2.10% | +0.55 |
| GOOGL Alphabet Inc. Class A | Add +3.0% | 2.16% | +0.50 |
| PDD PDD Holdings Inc. | Add +94.4% | 0.66% | +0.36 |
| ORCL Oracle Corp. | Add +33.5% | 0.84% | +0.30 |
| EEM iShares MSCI Emerging Market | Add +491.5% | 0.29% | +0.24 |
| MKTX Marketaxess Holdings Inc. | Add +2977.4% | 0.19% | +0.18 |
| BIDU Baidu Inc. - Spon ADR | Add +1472.6% | 0.17% | +0.16 |
| APP AppLovin Corp. Class A | Add +107.1% | 0.18% | +0.13 |
| JNJ Johnson & Johnson | Add +3.2% | 1.02% | +0.13 |
| EWJ iShares MSCI Japan ETF | Add +598.3% | 0.14% | +0.12 |
| GLD SPDR Gold Shares | Add +679.4% | 0.12% | +0.11 |
| EWI iShares MSCI Italy ETF | New | 0.10% | +0.10 |
| MU Micron Technology Inc. | Add +14.9% | 0.33% | +0.10 |
| WDC Western Digital Corp. | Add +63.8% | 0.13% | +0.08 |
| HOOD Robinhood Markets Inc. Class A | Add +167.8% | 0.11% | +0.08 |
| INTC Intel Corp. | Add +3.1% | 0.24% | +0.07 |
| ANET Arista Networks Inc. | Add +3.3% | 0.26% | +0.07 |
| AME Ametek Inc. | Add +88.5% | 0.15% | +0.06 |
| LRCX Lam Research Corp. | Add +5.9% | 0.25% | +0.06 |
| GE General Electric | Add +10.8% | 0.38% | +0.06 |
| TRMB Trimble Inc. | Add +136.1% | 0.10% | +0.06 |
| APH Amphenol Corp. Class A | Add +28.0% | 0.18% | +0.06 |
| GEV GE Vernova Inc. | Add +30.1% | 0.20% | +0.06 |
| NEM Newmont Corp. | Add +11.3% | 0.16% | +0.05 |
| PCG P G & E Corp. | Add +67.3% | 0.12% | +0.05 |
| C Citigroup Inc. | Add +7.7% | 0.32% | +0.05 |
| CVX Chevron Corp. | Add +16.1% | 0.34% | +0.05 |
| WELL Welltower Inc. | Add +12.0% | 0.25% | +0.04 |
| CMI Cummins Inc. | Add +7.9% | 0.18% | +0.04 |
| FUTU Futu Holdings Ltd.-ADR | Add +126.5% | 0.06% | +0.04 |
| HD Home Depot Inc. | Add +3.9% | 0.77% | +0.04 |
| AEM Agnico Eagle Mines Ltd. | Add +42.3% | 0.08% | +0.04 |
| VICI Vici Properties Inc. | Add +44.9% | 0.15% | +0.04 |
| AMGN Amgen Inc. | Add +27.9% | 0.24% | +0.04 |
| B Barrick Mining Corp. | Add +112.1% | 0.05% | +0.04 |
| RJF Raymond James Financial Inc. | Add +33.9% | 0.13% | +0.04 |
| O Realty Income Corp. | Add +39.1% | 0.13% | +0.03 |
| IXP iShares Global Comm Services | Add +60.7% | 0.08% | +0.03 |
| SPG Simon Property Group Inc. | Add +22.0% | 0.13% | +0.03 |
| GLW Corning Inc. | Add +14.8% | 0.08% | +0.03 |
| TJX TJX Companies Inc. | Add +4.1% | 0.28% | +0.03 |
| IBKR Interactive Brokers Gro Class A | Add +363.3% | 0.04% | +0.03 |
| WAT Waters Corp. | Add +90.0% | 0.09% | +0.03 |
| DDOG Datadog Inc. Class A | Add +137.7% | 0.05% | +0.03 |
| BNY Bank of New York Mellon Corp. | Add +9.5% | 0.17% | +0.03 |
| ALL Allstate Corp. | Add +29.1% | 0.13% | +0.03 |
| XYZ Block Inc. | Add +154.5% | 0.05% | +0.03 |
| DELL Dell Technologies -C | Add +56.5% | 0.07% | +0.03 |
| MRVL Marvell Technology Inc. | Add +61.2% | 0.07% | +0.03 |
Options Activity Q2 2025 → Q3 2025
| UNH Unitedhealth Group Inc. | put | Reduce -15.0% | 2,350,000 | $807.7M |
| MSFT Microsoft Corp. | put | Add +201.3% | 1,524,100 | $785.5M |
| TSLA Tesla Inc. | put | Add +79.2% | 1,269,700 | $555.5M |
| PDD PDD Holdings Inc. | put | Add +7161.1% | 3,906,500 | $512.9M |
| NVDA Nvidia Corp. | put | Add +4.3% | 2,690,000 | $500.7M |
| ORCL Oracle Corp. | put | Add +4000.0% | 1,230,000 | $341.0M |
| EEM iShares MSCI Emerging Market | put | Add +27.8% | 6,110,000 | $326.1M |
| NVDA Nvidia Corp. | call | Reduce -18.6% | 1,559,800 | $291.0M |
| TSM Taiwan Semiconductor-SP ADR | put | Reduce -71.7% | 1,050,000 | $290.5M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +18.1% | 419,200 | $277.8M |
| TSM Taiwan Semiconductor-SP ADR | call | Add +58.2% | 944,500 | $262.2M |
| BIDU Baidu Inc. - Spon ADR | put | New | 2,000,000 | $261.3M |
| QQQ Invesco QQQ Trust Series 1 | put | Add +18.2% | 437,100 | $261.2M |
| META Meta Platforms Inc. Class A | call | Add +27.6% | 334,700 | $245.4M |
| MSFT Microsoft Corp. | call | Reduce -46.4% | 375,100 | $194.0M |
| IBM Intl Business Machines Corp. | call | Add +1626.0% | 583,400 | $164.6M |
| BRK.B Berkshire Hathaway Inc. Class B | put | Add +1507.5% | 319,900 | $160.4M |
| AAPL Apple Inc. | put | Reduce -74.6% | 576,600 | $146.6M |
| CRM Salesforce Inc. | put | Add +19.5% | 604,200 | $143.4M |
| TSLA Tesla Inc. | call | Reduce -40.8% | 315,300 | $140.1M |
| AMZN Amazon.com Inc. | put | Reduce -59.0% | 577,100 | $126.3M |
| DB Deutsche Bank AG-Registered | put | Add +57.2% | 3,464,900 | $121.8M |
| DB Deutsche Bank AG-Registered | call | Reduce -18.1% | 3,398,300 | $119.5M |
| GOOG Alphabet Inc. Class C | put | Reduce -77.6% | 485,000 | $117.5M |
| TLT iShares 20+ Year Treasury BD | call | Reduce -27.5% | 1,250,000 | $112.1M |
| GOOGL Alphabet Inc. Class A | put | Add +110.3% | 440,000 | $106.3M |
| BKNG Booking Holdings Inc. | put | Add +1710.0% | 18,100 | $97.7M |
| AMZN Amazon.com Inc. | call | Add +41.0% | 425,100 | $93.1M |
| NFLX Netflix Inc. | call | Reduce -45.3% | 77,100 | $92.3M |
| CELH Celsius Holdings Inc. | put | Reduce -12.0% | 1,598,300 | $91.9M |
| GOOG Alphabet Inc. Class C | call | Reduce -9.8% | 374,900 | $91.3M |
| NFLX Netflix Inc. | put | Reduce -38.3% | 76,000 | $90.1M |
| TLT iShares 20+ Year Treasury BD | put | Sold out | 985,300 | $86.8Mbefore exit |
| AVGO Broadcom Inc. | put | Sold out | 236,000 | $65.1Mbefore exit |
| SCHW Schwab (charles) Corp. | put | Add +11.8% | 656,500 | $62.3M |
| AAPL Apple Inc. | call | Reduce -26.2% | 237,000 | $60.3M |
| RSP Invesco S&P 500 Equal Weight | call | New | 300,000 | $56.6M |
| DXCM Dexcom Inc. | call | Add +21.6% | 786,500 | $52.6M |
| PG The Procter & Gamble Co. | call | Reduce -48.7% | 301,900 | $46.4M |
| DELL Dell Technologies -C | put | New | 300,000 | $41.4M |
| CRM Salesforce Inc. | call | Add +12.3% | 173,000 | $41.0M |
| EEM iShares MSCI Emerging Market | call | Reduce -3.4% | 765,000 | $40.8M |
| MS Morgan Stanley | call | Add +6.3% | 254,900 | $40.2M |
| UBER Uber Technologies Inc. | put | Reduce -55.5% | 397,700 | $38.7M |
| ADSK Autodesk Inc. | put | Add +10.0% | 116,200 | $36.8M |
| TJX TJX Companies Inc. | put | Add +13.9% | 250,500 | $36.2M |
| GLD SPDR Gold Shares | put | Add +143.9% | 100,000 | $35.4M |
| KLAC KLA Corp. | put | Add +41.3% | 33,200 | $35.2M |
| GE General Electric | put | Add +7.9% | 114,800 | $34.3M |
| JNJ Johnson & Johnson | call | Add +143.1% | 182,100 | $33.7M |
Showing the first 50 of 424.
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
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -9.8% | 228,816,000 | $421.7M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Reduce -3.3% | 35,000,000 | $34.7M |
| TSM Taiwan Semiconductor-SP ADR | SPONSORED ADS · principal | Reduce 0.0% | 56,944 | $15.9M |
| SHV iShares 0-1 Year Treasury Bo | TRUST ISHARE 0-1 · principal | Add +31.1% | 85,050 | $9.4M |
| EMHY iShares J.P. Morgan Em High | JP MRGN EM HI BD · principal | Add +20.1% | 152,300 | $6.0M |
| HDB HDFC Bank Ltd.-ADR | SPONSORED ADS · principal | Reduce -2.6% | 138,326 | $4.7M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Sold out | 4,000 | $4.7Mbefore exit |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Sold out | 3,597 | $4.4Mbefore exit |
| SHY iShares 1-3 Year Treasury Bo | 1 3 YR TREAS BD · principal | Reduce -3.5% | 41,200 | $3.4M |
| IBN Icici Bank Ltd.-Spon ADR | ADR · principal | Reduce -2.4% | 111,620 | $3.4M |
| KB KB Financial Group Inc.-ADR | SPONSORED ADR · principal | Add +3.4% | 38,213 | $3.2M |
| BABA Alibaba Group Holding-SP ADR | SPONSORED ADS · principal | Add +0.2% | 15,583 | $2.8M |
| INFY Infosys Ltd.-SP ADR | SPONSORED ADR · principal | Reduce -0.1% | 151,645 | $2.5M |
| SJNK SS SPDR BB St Hi Yield ETF | ST TERM HIGH ETF · principal | Add +139.9% | 94,750 | $2.4M |
| ITUB Itau Unibanco H-Spon PRF ADR | SPON ADR REP PFD · principal | Reduce -43.0% | 247,949 | $1.8M |
| PDD PDD Holdings Inc. | SPONSORED ADS · principal | Reduce -8.4% | 13,081 | $1.7M |
| BIL SS SPDR BB 1-3M T-Bill ETF | ST STR BLO 1 ETF · principal | Sold out | 17,900 | $1.6Mbefore exit |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Reduce -0.4% | 13,178 | $325K |
| BEKE Ke Holdings Inc.-ADR | SPONSORED ADS · principal | Add +0.6% | 15,179 | $289K |
| SE Sea Ltd.-ADR | SPONSORD ADS · principal | Add +18.7% | 1,598 | $286K |
| PKX Posco Holdings Inc. -Spon ADR | SPONSORED ADR · principal | Sold out | 4,161 | $202Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,406 | $207.7B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 2,374 | $167.4B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q4 2025Amended | 2,305 | $175.6B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025 | 2,191 | $169.0B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 2,515 | $154.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 2,539 | $149.9B | MSFT, AAPL, NVDA, AMZN, META |
| Q4 2024 | 2,625 | $161.2B | NVDA, MSFT, AAPL, AMZN, META |
| Q3 2024 | 2,571 | $160.0B | MSFT, NVDA, AAPL, AMZN, META |
| Q2 2024 | 2,524 | $155.2B | MSFT, NVDA, AAPL, AMZN, META |
| Q1 2024 | 2,600 | $140.4B | MSFT, AAPL, NVDA, AMZN, META |