Laffer Tengler Investments, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Laffer Tengler Investments, Inc. reported 154 stock positions worth $468.6 million. Its top holding was Broadcom (AVGO) at 5.4% of the portfolio, followed by Microsoft (MSFT, 5.0%) and Goldman Sachs (GS, 3.9%). Compared with Q1 2025, it opened 43 new positions, sold out of 12, added to 41 and reduced 63. The biggest buy was US Bancorp (USB, shares +2031%) and the biggest sale an exit from NXP Semiconductors (NXPI).

Most Recent 13F
Q2 2026
Location
Scottsdale, AZ
CIK
0001307878
Portfolio Value
$468.6M (Q2 2025)
SEC Filing
0001172661-25-002953 ↗ filed Aug 7, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $305.5M Q1 2024 Q2 2024: $384.0M Q2 2024 Q3 2024: $409.7M Q3 2024 Q4 2024: $413.8M Q4 2024 Q1 2025: $377.9M Q1 2025 Q2 2025: $468.6M $468.6M Q2 2025 Q3 2025: $532.4M Q3 2025 Q4 2025: $570.8M Q4 2025 Q1 2026: $574.1M Q1 2026 Q2 2026: $671.2M Q2 2026

Holdings 154 stocks · $468.6M
AVGO Broadcom Inc. 5.43% 92,327 $25.4M Reduce -13.7%
MSFT Microsoft Corp. 5.02% 47,261 $23.5M Reduce -0.9%
GS Goldman Sachs Group Inc. 3.90% 25,853 $18.3M Reduce -7.2%
AAPL Apple Inc. 3.67% 83,900 $17.2M Add +87.8%
AXP American Express Co. 3.42% 50,273 $16.0M Reduce -6.0%
JPM JPMorgan Chase & Co. 3.24% 52,356 $15.2M Reduce -6.8%
WMT Walmart Inc. 2.98% 143,038 $14.0M Reduce -12.7%
ORCL Oracle Corp. 2.89% 62,017 $13.6M Reduce -4.2%
ABBV Abbvie Inc. 2.46% 62,198 $11.5M Reduce -5.8%
USB US Bancorp 2.45% 254,012 $11.5M Add +2031.2%
AMZN Amazon.com Inc. 2.43% 51,877 $11.4M Add +16.7%
HD Home Depot Inc. 2.37% 30,300 $11.1M Reduce -3.9%
RTX RTX Corp. 2.17% 69,557 $10.2M Reduce -11.9%
SPOT Spotify Technology SA 2.10% 12,821 $9.8M Reduce -6.1%
PANW Palo Alto Networks Inc. 2.09% 47,930 $9.8M Add +1.7%
NOW ServiceNow Inc. 2.05% 9,334 $9.6M Add +0.3%
LRCX Lam Research Corp. 2.04% 98,305 $9.6M Reduce -8.4%
GOOGL Alphabet Inc. Class A 1.97% 52,379 $9.2M Reduce -6.2%
CVX Chevron Corp. 1.94% 63,638 $9.1M Reduce -1.3%
UBER Uber Technologies Inc. 1.80% 90,545 $8.4M Add +9.8%
CARR Carrier Global Corp. 1.74% 111,195 $8.1M Reduce -13.1%
JNJ Johnson & Johnson 1.64% 50,415 $7.7M Reduce -13.1%
PWR Quanta Services Inc. 1.56% 19,276 $7.3M Add +51.0%
NVDA Nvidia Corp. 1.53% 45,477 $7.2M Add +13.2%
BAM Brookfield Asset Mgmt-A 1.53% 129,310 $7.1M Reduce -14.5%
EMR Emerson Electric Co. 1.49% 52,303 $7.0M Reduce -33.6%
TXN Texas Instruments Inc. 1.42% 32,101 $6.7M Reduce -9.9%
CMG Chipotle Mexican Grill Inc. 1.35% 112,663 $6.3M Reduce -1.3%
LHX L3HARRIS Technologies Inc. 1.31% 24,511 $6.1M Reduce -12.8%
MCD McDonald's Corp. 1.27% 20,300 $5.9M Reduce -27.0%
COST Costco Wholesale Corp. 1.25% 5,903 $5.8M Add +22.7%
EOG EOG Resources Inc. 1.23% 48,249 $5.8M Reduce -14.4%
SBUX Starbucks Corp. 1.18% 60,192 $5.5M Reduce -10.9%
PLTR Palantir Technologies Inc. Class A 1.15% 39,463 $5.4M Add +207.9%
CSCO Cisco Systems Inc. 1.11% 74,980 $5.2M Add +1214.3%
STLD Steel Dynamics Inc. 1.10% 40,231 $5.1M Reduce -33.2%
CRWD CrowdStrike Holdings Inc. Class A 0.98% 8,991 $4.6M Add +0.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.96% 36,325 $4.5M New
ETN Eaton Corp. PLC 0.95% 12,481 $4.5M New
TSLA Tesla Inc. 0.95% 13,996 $4.4M Add +0.2%
MDT Medtronic PLC 0.88% 47,071 $4.1M Reduce -14.0%
NEE Nextera Energy Inc. 0.86% 57,854 $4.0M Reduce -14.3%
WMB Williams Cos Inc. 0.85% 63,187 $4.0M Reduce -14.6%
PLD Prologis Inc. 0.83% 36,950 $3.9M Reduce -15.6%
ACN Accenture PLC Class A 0.77% 12,056 $3.6M New
LMT Lockheed Martin Corp. 0.69% 6,979 $3.2M Add +482.6%
V Visa Inc. Class A 0.68% 8,969 $3.2M Add +0.1%
XYL Xylem Inc. 0.55% 20,034 $2.6M Reduce -5.3%
STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) 0.48% 1,970 $2.2M Reduce -2.8%
NFLX Netflix Inc. 0.47% 1,633 $2.2M Add +73.9%
VRIG Invesco Variable Rate Invest 0.46% 86,742 $2.2M Reduce -20.3%
SYK Stryker Corp. 0.45% 5,334 $2.1M Reduce -2.8%
FANG Diamondback Energy Inc. 0.43% 14,793 $2.0M Reduce -6.9%
VRTX Vertex Pharmaceuticals Inc. 0.37% 3,926 $1.7M Reduce -5.5%
SHYG iShares 0-5 YR HY Corp. Bond 0.34% 37,330 $1.6M Reduce -3.2%
EQT Eqt Corp. 0.33% 26,446 $1.5M Add +77.1%
JAZZ Jazz Pharmaceuticals PLC 0.30% 13,450 $1.4M New
PH Parker Hannifin Corp. 0.30% 2,000 $1.4M New
ETF OPPORTUNITIES TRUST 0.29% 42,300 $1.4M Add +21.7%
VYM Vanguard High DVD Yield ETF 0.29% 10,102 $1.3M New
JAAA Janus Henderson Aaa Clo ETF 0.29% 26,377 $1.3M Reduce -5.7%
WM Waste Management Inc. 0.27% 5,488 $1.3M Add +424.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.25% 1,892 $1.2M Add +22.4%
SCHF Schwab Intl Equity ETF 0.23% 49,539 $1.1M New
BINC iShares Flex I A ETF-Usd Inc. 0.23% 20,390 $1.1M Reduce -0.1%
CLOA iShares Aaa Clo Act ETF-Usdi 0.23% 20,688 $1.1M Reduce -0.1%
GOOG Alphabet Inc. Class C 0.22% 5,793 $1.0M Add +38.2%
QQQ Invesco QQQ Trust Series 1 0.21% 1,804 $995K New
MSI Motorola Solutions Inc. 0.21% 2,350 $988K Add +370.0%
SHW The Sherwin-Williams Co. 0.20% 2,754 $946K New
HYBB iShares BB Rated Corp. Bond 0.20% 19,991 $940K Reduce -0.1%
PG The Procter & Gamble Co. 0.17% 5,031 $802K Add +42.0%
AMGN Amgen Inc. 0.17% 2,852 $796K Add +40.1%
MELI MercadoLibre Inc. 0.16% 285 $745K New
VWO Vanguard Ftse Emerging Marke 0.15% 14,421 $713K Add +131.6%
ISRG Intuitive Surgical Inc. 0.13% 1,125 $611K Add +80.0%
CAT Caterpillar Inc. 0.13% 1,551 $602K Add +70.1%
META Meta Platforms Inc. Class A 0.13% 814 $601K New
LIN Linde PLC 0.13% 1,268 $595K Add +41.0%
KO The Coca-Cola Co. 0.13% 8,287 $586K Add +100.0%
CRM Salesforce Inc. 0.12% 2,130 $581K Add +172.0%
AVAV Aerovironment Inc. 0.12% 2,000 $570K New
BX Blackstone Inc. 0.12% 3,780 $565K New
VUG Vanguard Mrngstar GR ETF-Sui 0.12% 1,260 $552K Add +87.8%
IWB iShares Russell 1000 ETF 0.12% 1,626 $552K New
LLY Eli Lilly & Co. 0.10% 627 $489K New
CMCSA Comcast Corp. Class A 0.10% 13,481 $481K Add +1.5%
ABT Abbott Laboratories 0.10% 3,492 $475K Add +57.2%
DELL Dell Technologies -C 0.10% 3,850 $472K New
NRG NRG Energy Inc. 0.10% 2,850 $458K No change
NVR NVR Inc. 0.09% 60 $443K New
PGR Progressive Corp. 0.09% 1,575 $420K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.09% 8,841 $418K New
DRI Darden Restaurants Inc. 0.09% 1,828 $398K Add +18.9%
MS Morgan Stanley 0.08% 2,807 $395K New
SELF Global Self Storage Inc. 0.08% 72,589 $388K New
APO Apollo Global Management Inc. 0.08% 2,664 $378K New
RRC Range Resources Corp. 0.08% 9,100 $370K New
SCHW Schwab (charles) Corp. 0.08% 4,025 $367K No change
DAX Global X Dax Germany ETF 0.07% 7,816 $351K Add +13.8%
TSM Taiwan Semiconductor-SP ADR 0.07% 1,511 $342K New
SCCO Southern Copper Corp. 0.07% 3,302 $334K Reduce -16.7%
HLT Hilton Worldwide Holdings Inc. 0.07% 1,250 $333K New
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.07% 700 $308K New
ICLR Icon PLC 0.07% 2,100 $305K New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 988 $291K Add +3.5%
EWD iShares MSCI Sweden ETF 0.06% 6,163 $282K Add +13.8%
IWM iShares Russell 2000 ETF 0.06% 1,305 $282K New
EWA iShares MSCI Australia ETF 0.06% 10,136 $267K Add +13.8%
VOOG Vanguard S&P 500 Growth ETF 0.06% 657 $261K New
XOM Exxon Mobil Corp. 0.05% 2,373 $256K Add +2.4%
INDA iShares MSCI India ETF 0.05% 4,452 $248K Reduce -43.0%
AMAT Applied Materials Inc. 0.05% 1,350 $247K New
BBCA JPMorgan Betabuilders Canada 0.05% 3,027 $244K New
SPGI S&P Global Inc. 0.05% 462 $244K No change
SPG Simon Property Group Inc. 0.05% 1,487 $239K New
SO The Southern Co. 0.05% 2,600 $239K No change
PSA Public Storage 0.05% 804 $236K New
UNH Unitedhealth Group Inc. 0.05% 742 $231K Add +46.9%
T AT&T Inc. 0.05% 7,888 $228K New
VGT Vanguard Info Tech ETF 0.05% 340 $226K New
BRK.B Berkshire Hathaway Inc. Class B 0.05% 457 $222K Reduce -26.4%
VGIT Vanguard Intermediate-Term T 0.05% 3,646 $218K New
ARGT Global X MSCI Argentina ETF 0.05% 2,571 $218K New
PM Philip Morris International 0.04% 1,156 $211K New
CL Colgate-Palmolive Co. 0.04% 2,237 $203K No change
VALE Vale SA-SP ADR 0.03% 15,000 $146K New
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) 0.00% 3,501 $3K Add +37.1%
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) 0.00% 2,909 $3K Reduce -2.7%
SOUTHERN CO (SO 4.5 06/15/27) 0.00% 2,663 $3K New
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) 0.00% 2,559 $3K Reduce -2.5%
DUKE ENERGY CORP (DUK 4.125 04/15/26) 0.00% 2,610 $3K Reduce -2.7%
TWO HARBORS INV CORP (TWO 6.25 01/15/26) 0.00% 2,670 $3K Reduce -3.0%
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) 0.00% 3,007 $3K Reduce -3.1%
ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) 0.00% 2,632 $3K Reduce -3.1%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) 0.00% 2,488 $3K New
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) 0.00% 2,482 $3K New
NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) filed as NEW MTN FIN CORP 0.00% 2,561 $3K Reduce -3.0%
VENTAS REALTY LP (VTR 3.75 06/01/26) 0.00% 2,182 $3K Reduce -3.1%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) 0.00% 2,217 $3K Reduce -2.9%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) 0.00% 1,779 $3K Reduce -2.5%
ALLIANT ENERGY CORP (LNT 3.875 03/15/26) 0.00% 2,391 $3K Reduce -2.0%
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) 0.00% 2,491 $3K Reduce -2.2%
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) 0.00% 2,289 $2K Reduce -2.8%
FIRSTENERGY CORP (FE 4 05/01/26) 0.00% 2,219 $2K Reduce -2.8%
PARSONS CORP (PSN 0.25 08/15/25) 0.00% 1,261 $2K Reduce -2.7%
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) 0.00% 1,984 $2K Reduce -2.8%
MERITAGE HOMES CORP (MTH 1.75 05/15/28) 0.00% 2,000 $2K New
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) 0.00% 1,524 $2K Reduce -2.7%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) 0.00% 1,970 $2K Reduce -2.8%
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) 0.00% 1,348 $2K Reduce -2.7%
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) 0.00% 1,644 $1K New
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) 0.00% 1,500 $1K No change
TETRA TECH INC (TTEK 2.25 08/15/28) 0.00% 1,215 $1K Reduce -2.6%
Other holdings (9): bonds, preferreds, convertibles and warrants · $27.9M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 3,282$3.9MReduce -2.6%
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV 51,450$3.9MReduce -2.6%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 3,300$3.8MReduce -2.6%
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 51,425$3.5MReduce -2.8%
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD 64,890$3.5MReduce -2.6%
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 49,765$2.9MReduce -2.6%
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D 54,820$2.9MAdd +124.5%
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG 34,530$2.3MAdd +48.6%
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 35,660$1.1MReduce -2.6%

Total filed on the 13F, all lines: $496.5M.

Portfolio Sells Q1 2025 → Q2 2025
NXPI NXP Semiconductors NV Sold out 0.00% −1.36
ABBV Abbvie Inc. Reduce -5.8% 2.46% −1.20
MCD McDonald's Corp. Reduce -27.0% 1.27% −1.03
CVX Chevron Corp. Reduce -1.3% 1.94% −0.91
JNJ Johnson & Johnson Reduce -13.1% 1.64% −0.90
STLD Steel Dynamics Inc. Reduce -33.2% 1.10% −0.89
WMT Walmart Inc. Reduce -12.7% 2.98% −0.82
EMR Emerson Electric Co. Reduce -33.6% 1.49% −0.80
HD Home Depot Inc. Reduce -3.9% 2.37% −0.69
EOG EOG Resources Inc. Reduce -14.4% 1.23% −0.68
RTX RTX Corp. Reduce -11.9% 2.17% −0.60
SBUX Starbucks Corp. Reduce -10.9% 1.18% −0.58
EQIX Equinix Inc. Sold out 0.00% −0.51
PLD Prologis Inc. Reduce -15.6% 0.83% −0.47
MDT Medtronic PLC Reduce -14.0% 0.88% −0.43
BAM Brookfield Asset Mgmt-A Reduce -14.5% 1.53% −0.41
CARR Carrier Global Corp. Reduce -13.1% 1.74% −0.41
NEE Nextera Energy Inc. Reduce -14.3% 0.86% −0.41
JPM JPMorgan Chase & Co. Reduce -6.8% 3.24% −0.41
AXP American Express Co. Reduce -6.0% 3.42% −0.39
WMB Williams Cos Inc. Reduce -14.6% 0.85% −0.32
GOOGL Alphabet Inc. Class A Reduce -6.2% 1.97% −0.32
TXN Texas Instruments Inc. Reduce -9.9% 1.42% −0.27
VRIG Invesco Variable Rate Invest Reduce -20.3% 0.46% −0.26
LHX L3HARRIS Technologies Inc. Reduce -12.8% 1.31% −0.25
FANG Diamondback Energy Inc. Reduce -6.9% 0.43% −0.24
CMG Chipotle Mexican Grill Inc. Reduce -1.3% 1.35% −0.17
VRTX Vertex Pharmaceuticals Inc. Reduce -5.5% 0.37% −0.16
GS Goldman Sachs Group Inc. Reduce -7.2% 3.90% −0.12
XYL Xylem Inc. Reduce -5.3% 0.55% −0.12
SYK Stryker Corp. Reduce -2.8% 0.45% −0.09
SHYG iShares 0-5 YR HY Corp. Bond Reduce -3.2% 0.34% −0.09
JAAA Janus Henderson Aaa Clo ETF Reduce -5.7% 0.29% −0.09
WPM Wheaton Precious Metals Corp. Sold out 0.00% −0.06
PAAS Pan American Silver Corp. Sold out 0.00% −0.06
FCX Freeport-McMoran Inc. Sold out 0.00% −0.06
CLOA iShares Aaa Clo Act ETF-Usdi Reduce -0.1% 0.23% −0.05
IVV iShares Core S&P 500 ETF Sold out 0.00% −0.05
INDA iShares MSCI India ETF Reduce -43.0% 0.05% −0.05
BINC iShares Flex I A ETF-Usd Inc. Reduce -0.1% 0.23% −0.05
HYBB iShares BB Rated Corp. Bond Reduce -0.1% 0.20% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -26.4% 0.05% −0.04
PLTM Graniteshares Platinum Trust Sold out 0.00% −0.03
SCCO Southern Copper Corp. Reduce -16.7% 0.07% −0.03
LRCX Lam Research Corp. Reduce -8.4% 2.04% −0.02
NRG ENERGY INC (NRG 2.75 06/01/48) Sold out 0.00% −0.00
BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) Sold out 0.00% −0.00
SOUTHERN CO (SO 3.875 12/15/25) Sold out 0.00% −0.00
ALLIANT ENERGY CORP (LNT 3.875 03/15/26) Reduce -2.0% 0.00% −0.00
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) Reduce -2.2% 0.00% −0.00

Portfolio Buys Q1 2025 → Q2 2025
USB US Bancorp Add +2031.2% 2.45% +2.32
AAPL Apple Inc. Add +87.8% 3.67% +1.05
CSCO Cisco Systems Inc. Add +1214.3% 1.11% +1.02
TJX TJX Companies Inc. New 0.96% +0.96
ETN Eaton Corp. PLC New 0.95% +0.95
PLTR Palantir Technologies Inc. Class A Add +207.9% 1.15% +0.86
ACN Accenture PLC Class A New 0.77% +0.77
PWR Quanta Services Inc. Add +51.0% 1.56% +0.70
LMT Lockheed Martin Corp. Add +482.6% 0.69% +0.55
NVDA Nvidia Corp. Add +13.2% 1.53% +0.38
JAZZ Jazz Pharmaceuticals PLC New 0.30% +0.30
PH Parker Hannifin Corp. New 0.30% +0.30
VYM Vanguard High DVD Yield ETF New 0.29% +0.29
NFLX Netflix Inc. Add +73.9% 0.47% +0.23
SCHF Schwab Intl Equity ETF New 0.23% +0.23
UBER Uber Technologies Inc. Add +9.8% 1.80% +0.21
QQQ Invesco QQQ Trust Series 1 New 0.21% +0.21
WM Waste Management Inc. Add +424.7% 0.27% +0.20
SHW The Sherwin-Williams Co. New 0.20% +0.20
AMZN Amazon.com Inc. Add +16.7% 2.43% +0.19
MELI MercadoLibre Inc. New 0.16% +0.16
MSI Motorola Solutions Inc. Add +370.0% 0.21% +0.15
CRWD CrowdStrike Holdings Inc. Class A Add +0.3% 0.98% +0.14
META Meta Platforms Inc. Class A New 0.13% +0.13
AVAV Aerovironment Inc. New 0.12% +0.12
BX Blackstone Inc. New 0.12% +0.12
EQT Eqt Corp. Add +77.1% 0.33% +0.12
IWB iShares Russell 1000 ETF New 0.12% +0.12
LLY Eli Lilly & Co. New 0.10% +0.10
DELL Dell Technologies -C New 0.10% +0.10
NVR NVR Inc. New 0.09% +0.09
BAC Bank of America Corp. New 0.09% +0.09
NOW ServiceNow Inc. Add +0.3% 2.05% +0.09
MS Morgan Stanley New 0.08% +0.08
SELF Global Self Storage Inc. New 0.08% +0.08
APO Apollo Global Management Inc. New 0.08% +0.08
RRC Range Resources Corp. New 0.08% +0.08
VWO Vanguard Ftse Emerging Marke Add +131.6% 0.15% +0.08
TSM Taiwan Semiconductor-SP ADR New 0.07% +0.07
HLT Hilton Worldwide Holdings Inc. New 0.07% +0.07
CRM Salesforce Inc. Add +172.0% 0.12% +0.07
DIA SS SPDR Dow Jones Indus Avg New 0.07% +0.07
ICLR Icon PLC New 0.07% +0.07
IWM iShares Russell 2000 ETF New 0.06% +0.06
VOOG Vanguard S&P 500 Growth ETF New 0.06% +0.06
AMAT Applied Materials Inc. New 0.05% +0.05
BBCA JPMorgan Betabuilders Canada New 0.05% +0.05
VUG Vanguard Mrngstar GR ETF-Sui Add +87.8% 0.12% +0.05
SPG Simon Property Group Inc. New 0.05% +0.05
PSA Public Storage New 0.05% +0.05

Notes & Other Activity Q1 2025 → Q2 2025
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -2.6% 3,282 $3.9M
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV Reduce -2.6% 51,450 $3.9M
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -2.6% 3,300 $3.8M
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A Reduce -2.8% 51,425 $3.5M
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD Reduce -2.6% 64,890 $3.5M
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV Reduce -2.6% 49,765 $2.9M
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D Add +124.5% 54,820 $2.9M
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG Add +48.6% 34,530 $2.3M
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Reduce -2.6% 35,660 $1.1M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 167$671.2MLRCX, GS, AVGO, GOOGL, AXP
Q1 2026 141$574.1MGS, LRCX, AVGO, MSFT, GOOGL
Q4 2025 172$570.8MAVGO, GS, MSFT, AXP, LRCX
Q3 2025 122$532.4MAVGO, MSFT, GS, AXP, JPM
Q2 2025 154$468.6MAVGO, MSFT, GS, AAPL, AXP
Q1 2025 123$377.9MMSFT, AVGO, GS, AXP, WMT
Q4 2024 139$413.8MAVGO, MSFT, AXP, GS, WMT
Q3 2024 167$409.7MAAPL, AVGO, MSFT, AXP, USB
Q2 2024 384$384.0MAAPL, AVGO, MSFT, AXP, JPM
Q1 2024 399$305.5MMSFT, AVGO, AAPL, JPM, AXP