Lazard Asset Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Lazard Asset Management LLC reported 1,612 stock positions worth $74.1 billion. Its top holding was Microsoft (MSFT) at 5.3% of the portfolio, followed by Apple (AAPL, 4.2%) and Amazon.com (AMZN, 3.4%). Compared with Q2 2025, it opened 190 new positions, sold out of 611, added to 783 and reduced 557. The biggest buy was Ferrovial (FER, shares +40717867%) and the biggest sale Norfolk Southern (NSC, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001207017
- Portfolio Value
- $74.1B (Q3 2025)
- SEC Filing
- 0001207017-25-000074 ↗ filed Nov 14, 2025
Holdings Value
Holdings 1,612 stocks · $74.1B
| MSFT Microsoft Corp. | 5.31% | 7,606,278 | $3.9B | Reduce -0.1% |
| AAPL Apple Inc. | 4.16% | 12,113,366 | $3.1B | Add +2.6% |
| AMZN Amazon.com Inc. | 3.44% | 11,607,864 | $2.5B | Add +1.4% |
| GOOGL Alphabet Inc. Class A | 2.34% | 7,146,562 | $1.7B | Reduce -12.3% |
| NVDA Nvidia Corp. | 2.03% | 8,082,648 | $1.5B | Add +14.3% |
| AVGO Broadcom Inc. | 1.82% | 4,079,119 | $1.3B | Reduce -5.7% |
| TSM Taiwan Semiconductor-SP ADR | 1.72% | 4,558,569 | $1.3B | Add +0.9% |
| FER Ferrovial NV | 1.70% | 21,987,702 | $1.3B | Add +40717866.7% |
| V Visa Inc. Class A | 1.66% | 3,603,970 | $1.2B | Reduce -0.1% |
| CSX CSX Corp. | 1.47% | 30,690,116 | $1.1B | Reduce -11.0% |
| ICE Intercontinental Exchange Inc. | 1.45% | 6,397,796 | $1.1B | Reduce -3.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.37% | 19,702,392 | $1.0B | Add +0.3% |
| EXC Exelon Corp. | 1.36% | 22,446,103 | $1.0B | Add +32.9% |
| PG The Procter & Gamble Co. | 1.25% | 6,007,605 | $923.1M | Add +9.1% |
| AMT American Tower Corp. | 1.16% | 4,464,382 | $858.6M | Add +1984.8% |
| CNI Canadian Natl Railway Co. | 1.14% | 8,955,711 | $844.4M | Add +639137.0% |
| LLY Eli Lilly & Co. | 1.12% | 1,083,948 | $826.7M | Add +6.5% |
| TMO Thermo Fisher Scientific Inc. | 1.04% | 1,582,872 | $767.7M | Reduce -1.1% |
| APH Amphenol Corp. Class A | 1.03% | 6,184,592 | $765.3M | Reduce -5.2% |
| ADI Analog Devices Inc. | 0.91% | 2,759,919 | $678.1M | Reduce -1.7% |
| GOOG Alphabet Inc. Class C | 0.89% | 2,709,744 | $660.0M | Add +26.1% |
| BSX Boston Scientific Corp. | 0.89% | 6,719,769 | $656.1M | Add +1.3% |
| XOM Exxon Mobil Corp. | 0.88% | 5,812,338 | $655.3M | Reduce -7.0% |
| DHR Danaher Corp. | 0.88% | 3,296,709 | $653.6M | Reduce -0.6% |
| SCHW Schwab (charles) Corp. | 0.84% | 6,533,016 | $623.7M | Reduce -5.2% |
| BX Blackstone Inc. | 0.83% | 3,612,663 | $617.2M | Reduce -5.0% |
| ED Consolidated Edison Inc. | 0.81% | 5,960,553 | $599.2M | Add +121543.9% |
| MRK Merck & Co. Inc. | 0.80% | 7,063,672 | $592.9M | Add +6.9% |
| AMAT Applied Materials Inc. | 0.80% | 2,883,765 | $590.4M | Reduce -22.4% |
| MDT Medtronic PLC | 0.77% | 6,001,342 | $571.5M | Add +19.0% |
| WM Waste Management Inc. | 0.77% | 2,586,393 | $571.2M | Add +2.8% |
| QCOM Qualcomm Inc. | 0.76% | 3,375,638 | $561.6M | Add +3.5% |
| KO The Coca-Cola Co. | 0.75% | 8,407,620 | $557.6M | Reduce -1.2% |
| MRSH Marsh & McLennan Cos | 0.75% | 2,763,189 | $556.9M | Add +6.5% |
| MRVL Marvell Technology Inc. | 0.72% | 6,392,013 | $537.4M | Reduce -10.7% |
| CB Chubb Ltd. | 0.69% | 1,818,295 | $513.2M | Add +7.3% |
| ACN Accenture PLC Class A | 0.69% | 2,073,651 | $511.4M | Reduce -0.7% |
| CCI Crown Castle Inc. | 0.68% | 5,189,880 | $500.7M | Reduce -5.2% |
| MCD McDonald's Corp. | 0.68% | 1,647,378 | $500.6M | Reduce -5.8% |
| AME Ametek Inc. | 0.67% | 2,645,977 | $497.4M | Add +35.6% |
| ROK Rockwell Automation Inc. | 0.67% | 1,416,876 | $495.2M | Reduce -28.9% |
| HD Home Depot Inc. | 0.66% | 1,205,438 | $488.4M | Reduce -1.3% |
| GS Goldman Sachs Group Inc. | 0.65% | 607,201 | $479.2M | Add +5.5% |
| TT Trane Technologies PLC | 0.63% | 1,106,999 | $467.1M | Reduce -2.5% |
| J Jacobs Solutions Inc. | 0.63% | 3,096,748 | $464.1M | Reduce -2.7% |
| LIN Linde PLC | 0.61% | 954,064 | $453.3M | New |
| AON Aon PLC Class A | 0.61% | 1,260,420 | $449.4M | Reduce -30.9% |
| EFX Equifax Inc. | 0.60% | 1,736,731 | $445.5M | Add +0.6% |
| CBRE CBRE Group Inc. Class A | 0.56% | 2,624,142 | $413.5M | Reduce -4.5% |
| META Meta Platforms Inc. Class A | 0.54% | 545,000 | $400.2M | Add +23.7% |
| CRM Salesforce Inc. | 0.54% | 1,679,186 | $398.0M | Add +27.5% |
| HDB HDFC Bank Ltd.-ADR | 0.53% | 11,476,763 | $392.0M | Add +3.9% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 0.51% | 20,071,706 | $377.7M | Add +34.6% |
| ZTS Zoetis Inc. | 0.51% | 2,577,527 | $377.1M | Reduce -4.6% |
| UNH Unitedhealth Group Inc. | 0.50% | 1,081,118 | $373.3M | Add +20.7% |
| AXP American Express Co. | 0.50% | 1,120,105 | $372.1M | Reduce -1.5% |
| AMX America Movil Sab DE CV | 0.50% | 17,703,513 | $371.8M | Add +8.8% |
| ADSK Autodesk Inc. | 0.50% | 1,159,983 | $368.5M | Add +39.6% |
| IQV Iqvia Holdings Inc. | 0.47% | 1,839,038 | $349.3M | Reduce -1.5% |
| CDNS Cadence Design SYS Inc. | 0.45% | 953,730 | $335.0M | Reduce -0.1% |
| CRH CRH PLC | 0.44% | 2,739,499 | $328.4M | Reduce -10.5% |
| COP Conocophillips | 0.43% | 3,392,604 | $320.9M | Reduce -6.3% |
| BA The Boeing Co. | 0.43% | 1,469,524 | $317.2M | Reduce -23.2% |
| SPGI S&P Global Inc. | 0.42% | 646,289 | $314.6M | Add +6.0% |
| INFY Infosys Ltd.-SP ADR | 0.42% | 19,240,608 | $313.0M | Add +340.2% |
| PTC PTC Inc. | 0.42% | 1,524,976 | $309.6M | Reduce -1.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.41% | 8,897,810 | $305.8M | Add +31.1% |
| NDSN Nordson Corp. | 0.40% | 1,299,434 | $294.9M | Reduce -16.6% |
| ODFL Old Dominion Freight Line | 0.39% | 2,054,044 | $289.2M | Add +6.2% |
| INTU Intuit Inc. | 0.37% | 400,967 | $273.8M | Add +27.0% |
| PBR Petroleo Brasileiro-Spon ADR | 0.37% | 21,569,843 | $273.1M | Add +12.7% |
| ADBE Adobe Inc. | 0.37% | 773,002 | $272.7M | Add +3.2% |
| MDLZ Mondelez International Inc. Class A | 0.36% | 4,265,489 | $266.5M | Reduce -5.2% |
| MU Micron Technology Inc. | 0.34% | 1,525,608 | $255.3M | Reduce -20.9% |
| GE General Electric filed as GE AEROSPACE | 0.34% | 828,440 | $249.2M | Add +4.0% |
| ISRG Intuitive Surgical Inc. | 0.34% | 556,008 | $248.7M | Reduce -5.6% |
| AMD Advanced Micro Devices | 0.34% | 1,535,818 | $248.5M | Reduce -4.4% |
| VALE Vale SA-SP ADR | 0.33% | 22,272,507 | $241.9M | Add +10.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.31% | 240,232 | $232.6M | Add +0.3% |
| BRSL Brightstar Lottery PLC | 0.31% | 13,279,477 | $229.1M | Reduce -3.1% |
| PAC Grupo Aeroportuario Pac-ADR | 0.30% | 947,581 | $224.8M | Add +13.4% |
| OMC Omnicom Group | 0.30% | 2,749,428 | $224.2M | Reduce -3.4% |
| URI United Rentals Inc. | 0.30% | 232,394 | $221.9M | Add +22.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.29% | 544,823 | $213.4M | Add +13.4% |
| FISV Fiserv Inc. | 0.29% | 1,649,344 | $212.6M | Add +20.3% |
| CCEP Coca-Cola Europacific Partne | 0.28% | 2,329,999 | $210.8M | Add +310.4% |
| IVV iShares Core S&P 500 ETF | 0.28% | 307,431 | $205.8M | Reduce -3.6% |
| ETN Eaton Corp. PLC | 0.28% | 546,426 | $204.5M | Reduce -3.4% |
| UL Unilever PLC | 0.27% | 3,425,384 | $203.1M | Reduce -6.5% |
| TX Ternium SA-Sponsored ADR | 0.27% | 5,813,570 | $201.9M | Add +8.5% |
| ASX Ase Technology Holding -ADR | 0.27% | 18,012,941 | $199.8M | Reduce -0.8% |
| BAP Credicorp Ltd. | 0.26% | 725,152 | $193.1M | Add +16.9% |
| SNPS Synopsys Inc. | 0.26% | 389,291 | $192.1M | Add +28.5% |
| BABA Alibaba Group Holding-SP ADR | 0.26% | 1,071,580 | $191.5M | Reduce -4.5% |
| TSLA Tesla Inc. | 0.26% | 430,442 | $191.4M | Add +45.0% |
| AVY Avery Dennison Corp. | 0.25% | 1,140,744 | $185.0M | Reduce -25.8% |
| MA Mastercard Inc. Class A | 0.25% | 321,600 | $182.9M | Add +13.3% |
| DE Deere & Co. | 0.24% | 389,322 | $178.0M | Add +28.1% |
| ESLT Elbit Systems Ltd. | 0.23% | 340,203 | $172.7M | New |
| ORCL Oracle Corp. | 0.23% | 593,032 | $166.8M | Add +370.6% |
Options reported separately and not counted above: SPY puts ($66.6M), IWM puts ($24.2M), OPEN puts ($8.0M), APP puts ($3.6M), W puts ($3.6M), BILL calls ($3.2M), BILL puts ($2.0M), PAR calls ($2.0M), BE puts ($1.7M), XMTR puts ($1.6M), BBAI puts ($1.3M), WDC puts ($1.2M), and 5 more.
Other holdings (174): bonds, preferreds, convertibles and warrants · $47.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 105,730,000 | $1.9M | Reduce -33.9% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 144,374,000 | $1.6M | Reduce -17.1% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 133,407,000 | $1.2M | Reduce -2.5% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 37,656,000 | $1.2M | Reduce -56.0% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 81,241,000 | $1.2M | Reduce -28.8% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 101,506,000 | $1.0M | Add +40.6% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 79,299,000 | $975K | Reduce -4.5% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 105,010,000 | $972K | Reduce -3.5% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 85,374,000 | $962K | Reduce -24.4% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 87,906,000 | $936K | Reduce -16.1% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 77,651,000 | $919K | Reduce -5.4% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 70,312,000 | $885K | Add +30.5% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 77,466,000 | $850K | Reduce -5.7% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 84,889,000 | $825K | Reduce -18.0% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 79,644,000 | $807K | Reduce -14.1% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 57,811,000 | $797K | Reduce -23.4% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 17,423,000 | $780K | Add +69.0% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 44,813,000 | $756K | Reduce -73.7% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 46,557,000 | $707K | New |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 67,708,000 | $703K | Reduce -2.9% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 52,955,000 | $678K | Reduce -24.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 70,627,000 | $664K | Reduce -27.3% |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 15,600,000 | $645K | Add +7.8% |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | 48,389,000 | $622K | Add +6.3% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 62,401,000 | $620K | Reduce -4.6% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 61,798,000 | $605K | Add +0.9% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 62,826,000 | $599K | Add +34.4% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 54,359,000 | $597K | Reduce -6.3% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 20,434,000 | $589K | Reduce -41.6% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 59,690,000 | $575K | Reduce -14.3% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 44,665,000 | $558K | Reduce -54.3% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 37,237,000 | $516K | Reduce -11.0% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 35,321,000 | $482K | Add +1.5% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 53,001,000 | $471K | Reduce -33.4% |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 47,236,000 | $466K | Add +0.2% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 30,344,000 | $463K | Add +76.7% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 46,330,000 | $458K | Add +0.0% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 38,663,000 | $444K | Reduce -36.7% |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 45,033,000 | $443K | Add +63.6% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 38,779,000 | $442K | Add +73.4% |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 22,249,000 | $440K | Reduce -73.0% |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 44,984,000 | $430K | Add +0.6% |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | 31,981,000 | $420K | New |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 39,655,000 | $400K | Reduce -3.3% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 43,034,000 | $393K | Add +75.6% |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 39,779,000 | $385K | Add +102.1% |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 37,641,000 | $370K | Add +123.5% |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 33,101,000 | $344K | Reduce -12.3% |
| PROS HOLDINGS INC (PRO 2.5 07/01/30) | DEBT 2.500% 7/0 · principal | 25,463,000 | $329K | Reduce -1.1% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 32,755,000 | $328K | Reduce -51.5% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 23,325,000 | $328K | Reduce -53.5% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 31,935,000 | $324K | Reduce -71.8% |
| MITEK SYSTEMS INC (MITK 0.75 02/01/26) | NOTE 0.750% 2/0 · principal | 32,125,000 | $317K | Add +54.5% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 35,000,000 | $310K | Add +40.0% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 30,526,000 | $293K | Add +8.9% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 20,554,000 | $281K | Reduce -67.0% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 27,517,000 | $272K | Reduce -5.2% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 25,139,000 | $271K | Reduce -36.0% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 27,038,000 | $260K | Add +19.1% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 19,211,000 | $255K | Reduce -11.4% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 23,713,000 | $255K | Reduce -37.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 26,320,000 | $252K | Reduce -50.9% |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 5,310,000 | $238K | Reduce -82.4% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 16,747,000 | $236K | Reduce -52.6% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 11,764,000 | $232K | Reduce -64.8% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 23,958,000 | $228K | Add +48.0% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 23,550,000 | $225K | Reduce -11.3% |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 19,153,000 | $219K | Reduce -3.4% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 15,386,000 | $212K | Reduce -2.6% |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 7,442,000 | $212K | Add +41244.4% |
| XOMETRY INC (XMTR 1 02/01/27) | NOTE 1.000% 2/0 · principal | 17,141,000 | $207K | Reduce -18.8% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 22,298,000 | $206K | Add +76.6% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 14,752,000 | $206K | Reduce -53.5% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 21,649,000 | $200K | Reduce -76.8% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 13,964,000 | $199K | Reduce -19.5% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 19,717,000 | $195K | Add +1.3% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 19,603,000 | $189K | Reduce -57.7% |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 10,340,000 | $185K | Reduce -3.8% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 17,910,000 | $184K | Reduce -79.3% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 18,304,000 | $181K | Reduce -61.2% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 15,736,000 | $175K | Reduce -68.6% |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 14,170,000 | $169K | New |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 13,954,000 | $165K | Reduce -61.8% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 11,973,000 | $156K | Reduce -51.7% |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 11,232,000 | $144K | Reduce -64.8% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 13,700,000 | $138K | Reduce -3.2% |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 9,377,000 | $136K | New |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 13,014,000 | $136K | Add +28.6% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 11,862,000 | $136K | New |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 5,917,000 | $133K | Reduce -71.2% |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | 14,087,000 | $132K | Reduce -25.9% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 12,208,000 | $128K | Reduce -58.5% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 12,853,000 | $127K | Add +6.9% |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 13,814,000 | $126K | Reduce -11.7% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 12,308,000 | $124K | Reduce -32.9% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 12,826,000 | $121K | New |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 11,889,000 | $118K | Reduce -67.0% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 11,351,000 | $117K | Reduce -47.7% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 12,426,000 | $115K | No change |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 8,832,000 | $113K | New |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | 8,941,000 | $112K | Reduce -59.0% |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 7,903,000 | $111K | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 4,379,000 | $106K | Reduce -69.0% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 9,240,000 | $103K | Reduce -65.0% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 10,457,000 | $100K | Reduce -13.2% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 6,388,000 | $97K | Reduce -50.7% |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 6,060,000 | $96K | Reduce -28.6% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 10,188,000 | $96K | Add +143.3% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 10,554,000 | $91K | New |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | 8,885,000 | $90K | Reduce -49.2% |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | 9,169,000 | $89K | Reduce -22.5% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 8,965,000 | $88K | No change |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 7,477,000 | $83K | Reduce -67.3% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 7,556,000 | $81K | Reduce -82.4% |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | 4,810,000 | $80K | Reduce -59.1% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 8,029,000 | $80K | Reduce -40.4% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 7,851,000 | $79K | No change |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 7,102,000 | $77K | Add +0.0% |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 7,865,000 | $76K | No change |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 7,291,000 | $75K | Reduce -62.8% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 6,222,000 | $67K | Reduce -62.9% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 4,675,000 | $65K | Reduce -6.1% |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | 3,397,000 | $61K | Add +3.4% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 3,814,000 | $60K | New |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 5,676,000 | $57K | Reduce -52.7% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 6,050,000 | $57K | Reduce -81.1% |
| IMAX CORP (IMAX 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | 4,800,000 | $56K | No change |
| HERTZ CORP/THE (HTZ 8 07/15/29) | NOTE 8.000% 7/1 · principal | 4,143,077 | $56K | Reduce -4.8% |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 6,366,000 | $55K | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 6,036,000 | $55K | Reduce -87.2% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 4,395,000 | $54K | Reduce -90.5% |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 4,960,000 | $53K | No change |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 5,665,000 | $51K | Add +194.6% |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 5,000,000 | $49K | No change |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 1,933,000 | $47K | Reduce -22.7% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 4,033,000 | $46K | Reduce -77.2% |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 1,886,000 | $45K | New |
| INOTIV INC (NOTV 3.25 10/15/27) | NOTE 3.250%10/1 · principal | 18,065,000 | $44K | No change |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 3,330,000 | $43K | Reduce -81.6% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 4,357,000 | $43K | Reduce -65.2% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 3,426,000 | $41K | New |
| PROS HOLDINGS INC (PRO 2.25 09/15/27) | NOTE 2.250% 9/1 · principal | 4,076,000 | $40K | Reduce -35.1% |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 37,008,000 | $35K | Reduce -5.1% |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 3,730,000 | $35K | Reduce -44.6% |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 2,344,000 | $33K | Add +0.0% |
| PAR TECHNOLOGY CORP (PAR 2.875 04/15/26) | NOTE 2.875% 4/1 · principal | 2,688,000 | $30K | Reduce -1.5% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 2,600,000 | $26K | No change |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 2,510,000 | $23K | Reduce -75.4% |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 20,670,000 | $19K | Reduce -9.2% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 1,635,000 | $17K | Reduce -93.3% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 1,376,000 | $17K | Reduce -93.6% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 980,000 | $16K | Reduce -98.2% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 1,193,000 | $15K | Add +490.6% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 1,076,000 | $12K | Reduce -98.5% |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 389,000 | $11K | New |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 905,000 | $9K | Reduce -96.4% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 943,000 | $9K | Reduce -82.8% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 428,000 | $7K | No change |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 177,000 | $4K | Reduce -85.0% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 305,000 | $3K | No change |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 · principal | 197,078 | $2K | New |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 111,000 | $1K | Reduce -86.3% |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 74,000 | $1K | No change |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 33,000 | $1K | No change |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 72,000 | $939 | Reduce -98.6% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 62,000 | $780 | Reduce -99.6% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 43,000 | $453 | Reduce -99.9% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L · principal | 9,320 | $119 | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | 6,368 | $89 | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D · principal | 2,300 | $24 | New |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG · principal | 2,019 | $24 | New |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV · principal | 1,652 | $23 | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV · principal | 1,367 | $19 | New |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A · principal | 145 | $2 | New |
Total filed on the 13F, all lines: $74.2B.
Portfolio Sells Q2 2025 → Q3 2025
| NSC Norfolk Southern Corp. | Reduce -99.9% | 0.00% | −1.28 |
| MSFT Microsoft Corp. | Reduce -0.1% | 5.31% | −0.47 |
| AEP American Electric Power | Reduce -90.3% | 0.05% | −0.46 |
| ICE Intercontinental Exchange Inc. | Reduce -3.5% | 1.45% | −0.40 |
| AON Aon PLC Class A | Reduce -30.9% | 0.61% | −0.39 |
| WIX Wix.com Ltd. | Reduce -93.4% | 0.02% | −0.35 |
| ROK Rockwell Automation Inc. | Reduce -28.9% | 0.67% | −0.34 |
| V Visa Inc. Class A | Reduce -0.1% | 1.66% | −0.29 |
| ACN Accenture PLC Class A | Reduce -0.7% | 0.69% | −0.26 |
| ES Eversource Energy | Sold out | 0.00% | −0.26 |
| CSX CSX Corp. | Reduce -11.0% | 1.47% | −0.25 |
| AMAT Applied Materials Inc. | Reduce -22.4% | 0.80% | −0.24 |
| LH Labcorp Holdings Inc. | Reduce -51.1% | 0.19% | −0.21 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -90.7% | 0.02% | −0.19 |
| BA The Boeing Co. | Reduce -23.2% | 0.43% | −0.18 |
| NICE Nice Ltd. - Spon ADR | Reduce -44.6% | 0.13% | −0.18 |
| CCI Crown Castle Inc. | Reduce -5.2% | 0.68% | −0.18 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.17 |
| KO The Coca-Cola Co. | Reduce -1.2% | 0.75% | −0.17 |
| AVY Avery Dennison Corp. | Reduce -25.8% | 0.25% | −0.16 |
| ISRG Intuitive Surgical Inc. | Reduce -5.6% | 0.34% | −0.15 |
| XOM Exxon Mobil Corp. | Reduce -7.0% | 0.88% | −0.14 |
| ZTS Zoetis Inc. | Reduce -4.6% | 0.51% | −0.13 |
| CYBR Cyberark Software Ltd./Israel | Reduce -86.5% | 0.02% | −0.13 |
| TT Trane Technologies PLC | Reduce -2.5% | 0.63% | −0.13 |
| MRVL Marvell Technology Inc. | Reduce -10.7% | 0.72% | −0.12 |
| SAP Sap SE-Sponsored ADR | Reduce -92.6% | 0.01% | −0.12 |
| BDX Becton Dickinson and Co. | Reduce -58.2% | 0.08% | −0.12 |
| DHR Danaher Corp. | Reduce -0.6% | 0.88% | −0.12 |
| SCHW Schwab (charles) Corp. | Reduce -5.2% | 0.84% | −0.12 |
| CPRT Copart Inc. | Reduce -99.4% | 0.00% | −0.12 |
| NDSN Nordson Corp. | Reduce -16.6% | 0.40% | −0.11 |
| CL Colgate-Palmolive Co. | Reduce -17.3% | 0.20% | −0.11 |
| ASA ASA Gold and Precious Metals | Reduce -99.1% | 0.00% | −0.11 |
| ADI Analog Devices Inc. | Reduce -1.7% | 0.91% | −0.11 |
| MCD McDonald's Corp. | Reduce -5.8% | 0.68% | −0.10 |
| MDLZ Mondelez International Inc. Class A | Reduce -5.2% | 0.36% | −0.10 |
| SQM Quimica Y Minera Chil-SP ADR | Sold out | 0.00% | −0.08 |
| NVMI Nova Ltd. | Reduce -52.3% | 0.07% | −0.08 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -35.9% | 0.20% | −0.07 |
| UL Unilever PLC | Reduce -6.5% | 0.27% | −0.07 |
| RELX Relx PLC - Spon ADR | Reduce -4.7% | 0.18% | −0.06 |
| COP Conocophillips | Reduce -6.3% | 0.43% | −0.06 |
| HSIC Henry Schein Inc. | Reduce -49.9% | 0.04% | −0.06 |
| TEKY Lazard Next Gen Tech ETF | Sold out | 0.00% | −0.06 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -7.4% | 0.17% | −0.06 |
| MFG Mizuho Financial Group-ADR | Reduce -40.9% | 0.10% | −0.06 |
| JHX James Hardie Ord | Sold out | 0.00% | −0.06 |
| LMT Lockheed Martin Corp. | Reduce -58.5% | 0.04% | −0.06 |
| EA Electronic Arts Inc. | Reduce -63.2% | 0.04% | −0.05 |
Portfolio Buys Q2 2025 → Q3 2025
| FER Ferrovial NV | Add +40717866.7% | 1.70% | +1.70 |
| CNI Canadian Natl Railway Co. | Add +639137.0% | 1.14% | +1.14 |
| AMT American Tower Corp. | Add +1984.8% | 1.16% | +1.09 |
| ED Consolidated Edison Inc. | Add +121543.9% | 0.81% | +0.81 |
| LIN Linde PLC | New | 0.61% | +0.61 |
| AAPL Apple Inc. | Add +2.6% | 4.16% | +0.46 |
| NVDA Nvidia Corp. | Add +14.3% | 2.03% | +0.33 |
| GOOG Alphabet Inc. Class C | Add +26.1% | 0.89% | +0.31 |
| INFY Infosys Ltd.-SP ADR | Add +340.2% | 0.42% | +0.30 |
| EXC Exelon Corp. | Add +32.9% | 1.36% | +0.24 |
| ESLT Elbit Systems Ltd. | New | 0.23% | +0.23 |
| CCEP Coca-Cola Europacific Partne | Add +310.4% | 0.28% | +0.20 |
| ORCL Oracle Corp. | Add +370.6% | 0.23% | +0.18 |
| AEM Agnico Eagle Mines Ltd. | Add +566.3% | 0.20% | +0.18 |
| NKE Nike Inc. Class B | Add +501.4% | 0.22% | +0.18 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.9% | 1.72% | +0.16 |
| GD General Dynamics Corp. | Add +349.2% | 0.17% | +0.14 |
| AME Ametek Inc. | Add +35.6% | 0.67% | +0.13 |
| TLK Telkom Indonesia Persero-ADR | Add +34.6% | 0.51% | +0.12 |
| UBER Uber Technologies Inc. | Add +344.3% | 0.16% | +0.12 |
| TSLA Tesla Inc. | Add +45.0% | 0.26% | +0.11 |
| GIL Gildan Activewear Inc. | Add +95.2% | 0.22% | +0.11 |
| SU Suncor Energy Inc. | Add +173.2% | 0.17% | +0.11 |
| ADSK Autodesk Inc. | Add +39.6% | 0.50% | +0.10 |
| B Barrick Mining Corp. | Add +524.9% | 0.11% | +0.10 |
| MDT Medtronic PLC | Add +19.0% | 0.77% | +0.10 |
| GRMN Garmin Ltd. | Add +530.5% | 0.12% | +0.10 |
| CP Canadian Pacific Kansas City | Add +281.2% | 0.14% | +0.09 |
| URI United Rentals Inc. | Add +22.9% | 0.30% | +0.08 |
| BN Brookfield Corp. | New | 0.08% | +0.08 |
| UNH Unitedhealth Group Inc. | Add +20.7% | 0.50% | +0.08 |
| MANH Manhattan Associates Inc. | Add +76.4% | 0.20% | +0.07 |
| KGC Kinross Gold Corp. | New | 0.07% | +0.07 |
| FROG Jfrog Ltd. | Add +1669.6% | 0.08% | +0.07 |
| TEL Te Connectivity PLC | Add +101.9% | 0.12% | +0.07 |
| PM Philip Morris International | Add +98.4% | 0.18% | +0.07 |
| DB Deutsche Bank AG-Registered | New | 0.07% | +0.07 |
| AMP Ameriprise Financial Inc. | Add +139.9% | 0.13% | +0.06 |
| SLB SLB Ltd. | Add +31.1% | 0.41% | +0.06 |
| PRIM Primoris Services Corp. | Add +56.6% | 0.10% | +0.06 |
| NFLX Netflix Inc. | Add +80.5% | 0.20% | +0.06 |
| INTC Intel Corp. | Add +392.4% | 0.07% | +0.06 |
| AMX America Movil Sab DE CV | Add +8.8% | 0.50% | +0.06 |
| FIX Comfort Systems USA Inc. | Add +10.8% | 0.16% | +0.05 |
| ITW Illinois Tool Works | Add +146.4% | 0.09% | +0.05 |
| BAP Credicorp Ltd. | Add +16.9% | 0.26% | +0.05 |
| PANW Palo Alto Networks Inc. | Add +51.1% | 0.20% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +61.3% | 0.13% | +0.05 |
| GPN Global Payments Inc. | Add +69.1% | 0.13% | +0.05 |
| META Meta Platforms Inc. Class A | Add +23.7% | 0.54% | +0.04 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 100,000 | $66.6M |
| IWM iShares Russell 2000 ETF | put | New | 100,000 | $24.2M |
| OPEN Opendoor Technologies Inc. | put | New | 1,000,000 | $8.0M |
| APP AppLovin Corp. Class A | put | New | 5,000 | $3.6M |
| W Wayfair Inc. Class A | put | New | 40,000 | $3.6M |
| BILL Bill Holdings Inc. | call | New | 60,000 | $3.2M |
| BILL Bill Holdings Inc. | put | New | 38,100 | $2.0M |
| PAR Par Technology Corp. | call | New | 50,000 | $2.0M |
| BE Bloom Energy Corp. Class A | put | New | 20,000 | $1.7M |
| XMTR Xometry Inc. Class A | put | New | 30,000 | $1.6M |
| BBAI Bigbear.ai Holdings Inc. | put | New | 200,000 | $1.3M |
| WDC Western Digital Corp. | put | New | 10,000 | $1.2M |
| PGY Pagaya Technologies Ltd. Class A | put | New | 25,000 | $742K |
| SRPT Sarepta Therapeutics Inc. | call | New | 37,500 | $723K |
| PL Planet Labs PBC | put | New | 50,000 | $649K |
| PLUG Plug Power Inc. | put | New | 200,000 | $466K |
| PRCH Porch Group Inc. | call | New | 20,000 | $336K |
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
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Sold out | 101,901,000 | $100.4Mbefore exit |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Sold out | 73,354,000 | $74.4Mbefore exit |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | Sold out | 53,275,000 | $51.1Mbefore exit |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | Sold out | 42,534,000 | $42.6Mbefore exit |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Sold out | 25,000,000 | $34.6Mbefore exit |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | Sold out | 33,591,000 | $33.4Mbefore exit |
| AGG iShares Core U.S. Aggregate | CORE US AGGBD ET · principal | Sold out | 278,910 | $27.7Mbefore exit |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Sold out | 20,021,000 | $27.1Mbefore exit |
| Q2 HOLDINGS INC (QTWO 0.125 11/15/25) | NOTE 0.125%11/1 · principal | Sold out | 26,516,000 | $26.2Mbefore exit |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | Sold out | 18,438,000 | $26.0Mbefore exit |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | Sold out | 27,027,000 | $25.7Mbefore exit |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 641,900 | $25.5Mbefore exit |
| VTEB Vanguard Tax-Exempt Bond ETF | TAX EXEMPT BD · principal | Sold out | 511,530 | $25.1Mbefore exit |
| IGSB iShares 1-5Y Inv Grade Corp. | ISHS 1-5YR INVS · principal | Sold out | 468,286 | $24.7Mbefore exit |
| ENCORE CAPITAL GROUP INC (ECPG 3.25 10/01/25) | NOTE 3.250%10/0 · principal | Sold out | 22,472,000 | $23.6Mbefore exit |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | Sold out | 23,500,000 | $23.6Mbefore exit |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | Sold out | 22,662,000 | $22.5Mbefore exit |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Sold out | 19,492,000 | $18.4Mbefore exit |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | Sold out | 18,582,000 | $16.9Mbefore exit |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | Sold out | 16,051,000 | $15.4Mbefore exit |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Sold out | 13,675,000 | $14.6Mbefore exit |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | Sold out | 14,824,000 | $14.3Mbefore exit |
| MESA LABORATORIES INC (MLAB 1.375 08/15/25) | NOTE 1.375% 8/1 · principal | Sold out | 14,159,000 | $14.1Mbefore exit |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Sold out | 15,000,000 | $14.0Mbefore exit |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | Sold out | 12,853,000 | $12.3Mbefore exit |
| MBB iShares MBS ETF | MBS ETF · principal | Sold out | 127,524 | $12.0Mbefore exit |
| FARO TECHNOLOGIES INC (FARO 5.5 02/01/28) | NOTE 5.500% 2/0 · principal | Sold out | 9,470,000 | $11.5Mbefore exit |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | Sold out | 10,000,000 | $11.0Mbefore exit |
| VGSH Vanguard Short-Term Treasury | SHORT TERM TREAS · principal | Sold out | 180,782 | $10.6Mbefore exit |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | Sold out | 9,780,000 | $10.4Mbefore exit |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | Sold out | 10,892,000 | $10.4Mbefore exit |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Sold out | 9,689,000 | $9.4Mbefore exit |
| TRAVERE THERAPEUTICS INC (TVTX 2.5 09/15/25) | NOTE 2.500% 9/1 · principal | Sold out | 9,460,000 | $9.3Mbefore exit |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | Sold out | 9,000,000 | $8.8Mbefore exit |
| GROUPON INC (GRPN 6.25 03/15/27 *) | NOTE 6.250% 3/1 · principal | Sold out | 5,924,000 | $8.3Mbefore exit |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | Sold out | 8,181,000 | $7.0Mbefore exit |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | Sold out | 7,402,000 | $6.7Mbefore exit |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Sold out | 6,909,000 | $6.6Mbefore exit |
| MUB iShares National Muni Bond E | NATIONAL MUN ETF · principal | Sold out | 61,136 | $6.4Mbefore exit |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | Sold out | 6,297,000 | $5.7Mbefore exit |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Sold out | 4,503 | $5.5Mbefore exit |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | Sold out | 5,615,000 | $5.4Mbefore exit |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Sold out | 5,152,000 | $5.0Mbefore exit |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | Sold out | 5,000,000 | $4.9Mbefore exit |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | Sold out | 4,171,000 | $4.7Mbefore exit |
| IEF iShares 7-10 Year Treasury B | 7-10 YR TRSY BD · principal | Sold out | 47,035 | $4.5Mbefore exit |
| TLT iShares 20+ Year Treasury BD | 20 YR TR BD ETF · principal | Sold out | 50,729 | $4.5Mbefore exit |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | Sold out | 3,420,000 | $4.1Mbefore exit |
| THE REALREAL INC (REAL 1 03/01/28) | NOTE 1.000% 3/0 · principal | Sold out | 4,876,000 | $3.9Mbefore exit |
| VCSH Vanguard S/T Corp. Bond ETF | SHRT TRM CORP BD · principal | Sold out | 46,720 | $3.7Mbefore exit |
Showing the first 50 of 261.
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 | 1,726 | $66.0B | NVDA, AAPL, MSFT, AMZN, EXC |
| Q1 2026 | 1,661 | $60.7B | AAPL, MSFT, NVDA, AMZN, AMT |
| Q4 2025 | 1,643 | $58.9B | MSFT, AAPL, AMZN, NVDA, GOOGL |
| Q3 2025 | 1,612 | $74.1B | MSFT, AAPL, AMZN, GOOGL, NVDA |
| Q2 2025 | 2,033 | $65.5B | MSFT, AMZN, AAPL, GOOGL, V |
| Q1 2025 | 2,078 | $59.6B | MSFT, AAPL, AMZN, V, GOOGL |
| Q4 2024 | 2,154 | $63.2B | MSFT, AMZN, AAPL, GOOGL, V |
| Q3 2024 | 2,109 | $69.6B | MSFT, AMZN, AAPL, GOOGL, ICE |
| Q2 2024 | 2,068 | $73.9B | MSFT, AMZN, GOOGL, AAPL, V |
| Q1 2024Amended | 1,850 | $76.0B | MSFT, AMZN, GOOGL, V, AAPL |