Lazard Asset Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Lazard Asset Management LLC reported 1,643 stock positions worth $58.9 billion. Its top holding was Microsoft (MSFT) at 4.0% of the portfolio, followed by Apple (AAPL, 3.4%) and Amazon.com (AMZN, 2.8%). Compared with Q3 2025, it opened 217 new positions, sold out of 188, added to 659 and reduced 654. The biggest buy was Crown Castle (CCI, shares +124%) and the biggest sale Microsoft (MSFT, shares −35%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001207017
- Portfolio Value
- $58.9B (Q4 2025)
- SEC Filing
- 0001207017-26-000017 ↗ filed Feb 17, 2026
Holdings Value
Holdings 1,643 stocks · $58.9B
| MSFT Microsoft Corp. | 4.05% | 4,925,233 | $2.4B | Reduce -35.3% |
| AAPL Apple Inc. | 3.40% | 7,369,513 | $2.0B | Reduce -39.2% |
| AMZN Amazon.com Inc. | 2.84% | 7,239,349 | $1.7B | Reduce -37.6% |
| NVDA Nvidia Corp. | 2.66% | 8,398,112 | $1.6B | Add +3.9% |
| GOOGL Alphabet Inc. Class A | 1.87% | 3,519,790 | $1.1B | Reduce -50.8% |
| AMT American Tower Corp. | 1.81% | 6,085,163 | $1.1B | Add +36.3% |
| CCI Crown Castle Inc. | 1.76% | 11,635,117 | $1.0B | Add +124.2% |
| EXC Exelon Corp. | 1.71% | 23,130,053 | $1.0B | Add +3.0% |
| TSM Taiwan Semiconductor-SP ADR | 1.68% | 3,249,879 | $987.6M | Reduce -28.7% |
| GOOG Alphabet Inc. Class C | 1.53% | 2,876,014 | $902.5M | Add +6.1% |
| CNI Canadian Natl Railway Co. | 1.50% | 8,903,624 | $880.6M | Reduce -0.6% |
| FER Ferrovial NV | 1.49% | 13,481,383 | $875.3M | Reduce -38.7% |
| AVGO Broadcom Inc. | 1.42% | 2,422,234 | $838.3M | Reduce -40.6% |
| V Visa Inc. Class A | 1.41% | 2,359,602 | $827.5M | Reduce -34.5% |
| CSX CSX Corp. | 1.27% | 20,660,113 | $748.9M | Reduce -32.7% |
| LLY Eli Lilly & Co. | 1.22% | 669,922 | $720.0M | Reduce -38.2% |
| TMO Thermo Fisher Scientific Inc. | 1.21% | 1,234,434 | $715.3M | Reduce -22.0% |
| ED Consolidated Edison Inc. | 1.04% | 6,165,594 | $612.4M | Add +3.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.98% | 10,499,846 | $577.5M | Reduce -46.7% |
| ICE Intercontinental Exchange Inc. | 0.90% | 3,270,198 | $529.6M | Reduce -48.9% |
| PG The Procter & Gamble Co. | 0.87% | 3,594,440 | $515.1M | Reduce -40.2% |
| APH Amphenol Corp. Class A | 0.86% | 3,752,993 | $507.2M | Reduce -39.3% |
| DHR Danaher Corp. | 0.84% | 2,172,812 | $497.4M | Reduce -34.1% |
| MRK Merck & Co. Inc. | 0.79% | 4,407,041 | $463.9M | Reduce -37.6% |
| HDB HDFC Bank Ltd.-ADR | 0.77% | 12,478,341 | $456.0M | Add +8.7% |
| AON Aon PLC Class A | 0.77% | 1,286,072 | $453.8M | Add +2.0% |
| ADI Analog Devices Inc. | 0.74% | 1,607,560 | $436.0M | Reduce -41.8% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 0.73% | 20,359,765 | $428.6M | Add +1.4% |
| IQV Iqvia Holdings Inc. | 0.73% | 1,896,950 | $427.6M | Add +3.1% |
| INFY Infosys Ltd.-SP ADR | 0.69% | 22,882,693 | $407.8M | Add +18.9% |
| QCOM Qualcomm Inc. | 0.66% | 2,286,347 | $391.1M | Reduce -32.3% |
| BSX Boston Scientific Corp. | 0.63% | 3,910,031 | $372.8M | Reduce -41.8% |
| AMX America Movil Sab DE CV | 0.62% | 17,667,555 | $365.2M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 0.61% | 543,333 | $358.6M | Reduce -0.3% |
| CRM Salesforce Inc. | 0.60% | 1,343,091 | $355.8M | Reduce -20.0% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.59% | 8,990,843 | $345.1M | Add +1.1% |
| MU Micron Technology Inc. | 0.57% | 1,176,561 | $335.8M | Reduce -22.9% |
| ADSK Autodesk Inc. | 0.56% | 1,120,649 | $331.7M | Reduce -3.4% |
| CB Chubb Ltd. | 0.56% | 1,055,024 | $329.3M | Reduce -42.0% |
| SPGI S&P Global Inc. | 0.56% | 629,250 | $328.8M | Reduce -2.6% |
| MDT Medtronic PLC | 0.56% | 3,411,802 | $327.7M | Reduce -43.1% |
| ASX Ase Technology Holding -ADR | 0.55% | 20,010,829 | $322.2M | Add +11.1% |
| AME Ametek Inc. | 0.54% | 1,547,833 | $317.8M | Reduce -41.5% |
| MRSH Marsh & McLennan Cos | 0.54% | 1,709,219 | $317.1M | Reduce -38.1% |
| KLAC KLA Corp. | 0.53% | 257,533 | $312.9M | Add +406.9% |
| ISRG Intuitive Surgical Inc. | 0.53% | 548,221 | $310.5M | Reduce -1.4% |
| ACN Accenture PLC Class A | 0.52% | 1,137,583 | $305.2M | Reduce -45.1% |
| PAC Grupo Aeroportuario Pac-ADR | 0.52% | 1,154,495 | $304.4M | Add +21.8% |
| WM Waste Management Inc. | 0.51% | 1,378,332 | $302.8M | Reduce -46.7% |
| ROK Rockwell Automation Inc. | 0.50% | 760,552 | $295.9M | Reduce -46.3% |
| VALE Vale SA-SP ADR | 0.50% | 22,480,635 | $292.9M | Add +0.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.49% | 269,974 | $288.8M | Add +12.4% |
| KO The Coca-Cola Co. | 0.48% | 4,082,098 | $285.4M | Reduce -51.5% |
| CRH CRH PLC | 0.48% | 2,243,648 | $280.0M | Reduce -18.1% |
| LIN Linde PLC | 0.47% | 645,402 | $275.1M | Reduce -32.4% |
| PBR Petroleo Brasileiro-Spon ADR | 0.47% | 23,170,764 | $274.6M | Add +7.4% |
| EFX Equifax Inc. | 0.46% | 1,236,214 | $268.2M | Reduce -28.8% |
| CDNS Cadence Design SYS Inc. | 0.45% | 852,094 | $266.3M | Reduce -10.7% |
| PTC PTC Inc. | 0.45% | 1,510,458 | $263.1M | Reduce -0.9% |
| SCHW Schwab (charles) Corp. | 0.44% | 2,615,026 | $261.3M | Reduce -60.0% |
| GS Goldman Sachs Group Inc. | 0.44% | 296,321 | $260.5M | Reduce -51.2% |
| XOM Exxon Mobil Corp. | 0.44% | 2,134,412 | $256.9M | Reduce -63.3% |
| MRVL Marvell Technology Inc. | 0.42% | 2,918,565 | $248.0M | Reduce -54.3% |
| BX Blackstone Inc. | 0.39% | 1,481,423 | $228.3M | Reduce -59.0% |
| TT Trane Technologies PLC | 0.38% | 579,356 | $225.5M | Reduce -47.7% |
| TX Ternium SA-Sponsored ADR | 0.38% | 5,866,281 | $224.0M | Add +0.9% |
| IVV iShares Core S&P 500 ETF | 0.38% | 325,676 | $223.1M | Add +5.9% |
| MCD McDonald's Corp. | 0.38% | 728,406 | $222.6M | Reduce -55.8% |
| PANW Palo Alto Networks Inc. | 0.35% | 1,134,137 | $208.9M | Add +59.3% |
| BAP Credicorp Ltd. | 0.35% | 720,103 | $206.7M | Reduce -0.7% |
| TSLA Tesla Inc. | 0.35% | 452,709 | $203.6M | Add +5.2% |
| ADBE Adobe Inc. | 0.34% | 574,243 | $201.0M | Reduce -25.7% |
| J Jacobs Solutions Inc. | 0.33% | 1,479,389 | $196.0M | Reduce -52.2% |
| UNH Unitedhealth Group Inc. | 0.33% | 581,411 | $191.9M | Reduce -46.2% |
| HD Home Depot Inc. | 0.32% | 553,072 | $190.3M | Reduce -54.1% |
| MA Mastercard Inc. Class A | 0.32% | 328,246 | $187.4M | Add +2.1% |
| JNJ Johnson & Johnson | 0.32% | 904,546 | $187.2M | Add +3.6% |
| AMD Advanced Micro Devices | 0.31% | 862,239 | $184.7M | Reduce -43.9% |
| CBRE CBRE Group Inc. Class A | 0.31% | 1,130,003 | $181.7M | Reduce -56.9% |
| SNPS Synopsys Inc. | 0.31% | 385,924 | $181.3M | Reduce -0.9% |
| INTU Intuit Inc. | 0.31% | 273,113 | $180.9M | Reduce -31.9% |
| ETN Eaton Corp. PLC | 0.29% | 536,782 | $171.0M | Reduce -1.8% |
| CCEP Coca-Cola Europacific Partne | 0.28% | 1,846,964 | $167.8M | Reduce -20.7% |
| FISV Fiserv Inc. | 0.27% | 2,392,157 | $160.7M | Add +45.0% |
| ARCO Arcos Dorados Holdings Inc. Class A | 0.27% | 21,471,672 | $157.6M | Add +6.7% |
| TER Teradyne Inc. | 0.27% | 812,074 | $157.2M | Reduce -3.5% |
| OMC Omnicom Group | 0.27% | 1,939,419 | $156.6M | Reduce -29.5% |
| AEM Agnico Eagle Mines Ltd. | 0.27% | 921,514 | $156.3M | Add +3.8% |
| PEP Pepsico Inc. | 0.26% | 1,071,055 | $153.7M | Add +16.2% |
| BABA Alibaba Group Holding-SP ADR | 0.26% | 1,030,104 | $151.0M | Reduce -3.9% |
| IR Ingersoll-Rand Inc. | 0.25% | 1,884,586 | $149.3M | New |
| PM Philip Morris International | 0.25% | 927,348 | $148.7M | Add +10.7% |
| COP Conocophillips | 0.25% | 1,579,501 | $147.9M | Reduce -53.4% |
| BRSL Brightstar Lottery PLC | 0.25% | 9,504,747 | $147.1M | Reduce -28.4% |
| ZBRA Zebra Technologies Corp. Class A | 0.25% | 603,398 | $146.5M | Add +82.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 1,260,954 | $143.5M | Reduce -6.1% |
| GD General Dynamics Corp. | 0.24% | 418,987 | $141.1M | Add +11.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 915,061 | $140.6M | Add +46.4% |
| ALL Allstate Corp. | 0.24% | 671,379 | $139.7M | Add +451.3% |
| CL Colgate-Palmolive Co. | 0.24% | 1,767,843 | $139.7M | Reduce -2.3% |
Options reported separately and not counted above: GH calls ($9.7M), LITE puts ($9.2M), GH puts ($7.8M), IREN calls ($5.7M), LRN calls ($4.5M), NBIS calls ($4.2M), IREN puts ($3.9M), BMRN puts ($3.0M), NBIS puts ($2.7M), BE puts ($2.6M), NTNX calls ($2.6M), BBIO calls ($2.3M), and 29 more.
Other holdings (188): bonds, preferreds, convertibles and warrants · $52.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 38,091,000 | $1.7M | Add +1.2% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 92,235,000 | $1.5M | Add +204.0% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 82,732,000 | $1.3M | Reduce -21.8% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 125,940,000 | $1.3M | Reduce -12.8% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 131,651,000 | $1.2M | Reduce -1.3% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 99,692,000 | $1.2M | Add +25.7% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 114,562,000 | $1.1M | Add +9.1% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 78,530,000 | $977K | Add +1.1% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 103,755,000 | $957K | New |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 95,038,000 | $934K | Add +12.0% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 26,789,000 | $901K | Add +31.1% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 71,139,000 | $896K | Add +5.1% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 82,440,000 | $884K | Add +6.4% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 21,062,000 | $868K | Add +20.9% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 70,141,000 | $825K | Add +57.0% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 78,987,000 | $814K | Reduce -0.8% |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 80,938,000 | $810K | New |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 42,343,000 | $800K | Add +81.5% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 20,727,000 | $770K | Reduce -53.8% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 73,892,000 | $732K | Add +4.6% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 70,184,000 | $721K | Reduce -0.2% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 54,903,000 | $713K | Reduce -32.4% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 55,229,000 | $706K | Add +1.6% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 73,302,000 | $662K | Add +38.3% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 60,845,000 | $657K | Add +1.9% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 63,848,000 | $656K | Add +194.9% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 50,793,000 | $627K | Reduce -4.1% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 53,732,000 | $623K | Reduce -38.9% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 64,150,000 | $616K | Add +2.1% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 60,401,000 | $599K | Reduce -2.3% |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 12,845,000 | $599K | Add +141.9% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 55,888,000 | $585K | Add +185.1% |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 13,473,000 | $575K | Reduce -13.6% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 56,620,000 | $562K | Add +22.2% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 36,759,000 | $547K | Reduce -21.1% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 59,840,000 | $536K | Add +71.0% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 55,404,000 | $532K | Add +131.3% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 43,574,000 | $520K | Add +12.4% |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 46,143,000 | $500K | New |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 35,212,000 | $500K | Reduce -0.3% |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 46,181,000 | $460K | Add +2.5% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 45,161,000 | $455K | Add +269.9% |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 46,090,000 | $445K | Add +2.5% |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 38,848,000 | $409K | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 44,129,000 | $406K | Add +2.5% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 41,651,000 | $403K | New |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 40,279,000 | $395K | Add +1.3% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 23,781,000 | $379K | Reduce -36.1% |
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | 12,680,000 | $343K | New |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 34,491,000 | $341K | Reduce -8.4% |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 34,400,000 | $337K | New |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 32,407,000 | $334K | Add +36.7% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 32,648,000 | $320K | Add +20.8% |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 33,635,000 | $319K | Add +801.7% |
| MITEK SYSTEMS INC (MITK 0.75 02/01/26) | NOTE 0.750% 2/0 · principal | 31,953,000 | $317K | Reduce -0.5% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 34,430,000 | $315K | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 30,934,000 | $308K | Reduce -5.6% |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 37,394,000 | $308K | New |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 31,069,000 | $307K | Add +12.9% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 32,233,000 | $299K | Add +44.6% |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 23,325,000 | $298K | Add +212.0% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 11,452,000 | $296K | Add +492.4% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 30,404,000 | $295K | Reduce -0.4% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 29,132,000 | $294K | Add +156.7% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 25,850,000 | $291K | Reduce -55.3% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 24,938,000 | $274K | Add +110.2% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 25,139,000 | $262K | No change |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | 16,804,000 | $250K | Reduce -65.3% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 19,692,000 | $250K | Add +2.5% |
| XOMETRY INC (XMTR 1 02/01/27) | NOTE 1.000% 2/0 · principal | 19,623,000 | $248K | Add +14.5% |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | 12,390,000 | $248K | Add +264.7% |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 9,406,000 | $239K | Add +398.7% |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 9,725,000 | $239K | New |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 76,278 | $230K | Add +7042.1% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 23,755,000 | $229K | Add +20.5% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 23,475,000 | $227K | Reduce -0.3% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 16,978,000 | $226K | Add +1.4% |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 27,118,000 | $214K | New |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 16,708,000 | $209K | Add +28.4% |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | 16,380,000 | $197K | Reduce -48.8% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 20,092,000 | $196K | New |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 19,153,000 | $194K | No change |
| PAR TECHNOLOGY CORP (PAR 1.5 10/15/27) | NOTE 1.500%10/1 · principal | 19,293,000 | $189K | Add +110.4% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 18,366,000 | $184K | Add +16.7% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 20,039,000 | $182K | Add +253.7% |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | 17,885,000 | $180K | Add +101.3% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 18,265,000 | $177K | Reduce -0.2% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 11,827,000 | $169K | Reduce -1.2% |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 4,732,000 | $165K | Add +1116.5% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 15,481,000 | $160K | New |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 15,975,000 | $156K | Reduce -66.2% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 16,243,000 | $155K | Add +59.4% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 7,390,000 | $154K | Add +15.7% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 10,214,000 | $153K | Reduce -26.9% |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 8,832,000 | $150K | No change |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 12,912,000 | $150K | Add +81.8% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 14,502,000 | $146K | Reduce -44.9% |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 14,281,000 | $146K | Add +0.8% |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 13,116,000 | $145K | New |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 7,056,000 | $144K | Reduce -40.0% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 12,426,000 | $140K | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 14,326,000 | $138K | Add +11.7% |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 8,094,000 | $137K | Add +33.6% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 11,219,000 | $137K | Add +17995.2% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 12,472,000 | $133K | Add +35.0% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 14,031,000 | $133K | Add +758.2% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 13,700,000 | $133K | No change |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 11,889,000 | $131K | No change |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 14,485,000 | $129K | Add +98.7% |
| PAGAYA TECHNOLOGIES LTD (PGY 6.125 10/01/29) | NOTE 6.125%10/0 · principal | 6,847,000 | $125K | New |
| CLEANSPARK INC (CLSK 0 06/15/30) | NOTE 6/1 · principal | 11,422,000 | $119K | New |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 10,311,000 | $115K | Reduce -0.3% |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | 6,740,000 | $110K | Add +40.1% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 10,514,000 | $107K | Add +160.7% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 10,000,000 | $104K | New |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 10,457,000 | $102K | No change |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 5,917,000 | $99K | No change |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 10,270,000 | $98K | New |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 8,555,000 | $96K | Reduce -78.4% |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 7,574,000 | $94K | Reduce -32.6% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 8,089,000 | $93K | Add +18711.6% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 10,554,000 | $92K | No change |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 6,749,000 | $92K | Reduce -9.3% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 7,851,000 | $81K | No change |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 8,029,000 | $80K | No change |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 7,865,000 | $77K | No change |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 8,000,000 | $76K | New |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 4,473,000 | $76K | New |
| UPSTART HOLDINGS INC (UPST 2 10/01/29) | NOTE 2.000%10/0 · principal | 5,782,000 | $73K | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 6,547,000 | $65K | New |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 2,767,000 | $65K | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 5,519,000 | $62K | Reduce -57.1% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 5,737,000 | $62K | Reduce -24.1% |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 6,366,000 | $58K | No change |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 4,960,000 | $51K | No change |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 4,899,000 | $50K | Reduce -85.2% |
| INOTIV INC (NOTV 3.25 10/15/27) | NOTE 3.250%10/1 · principal | 18,065,000 | $44K | No change |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 4,540,000 | $42K | Reduce -67.1% |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 1,928,000 | $39K | New |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 3,477,000 | $38K | New |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 2,734,000 | $36K | Reduce -20.2% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 4,041,000 | $35K | New |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 3,802,000 | $34K | Reduce -37.0% |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 3,476,000 | $33K | New |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 1,975,000 | $29K | Reduce -78.9% |
| PAR TECHNOLOGY CORP (PAR 2.875 04/15/26) | NOTE 2.875% 4/1 · principal | 2,688,000 | $28K | No change |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 2,432,000 | $26K | Reduce -60.9% |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 1,859,000 | $26K | Reduce -86.7% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 2,138,000 | $24K | New |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 2,396,000 | $24K | New |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 2,500,000 | $24K | New |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 2,472,000 | $23K | Add +162.1% |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 1,949,000 | $22K | New |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 1,833,000 | $20K | New |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 1,840,000 | $19K | New |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 27,008,000 | $19K | Reduce -27.0% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 1,207,000 | $17K | Reduce -92.2% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 1,193,000 | $16K | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 570,000 | $16K | Reduce -96.1% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 1,376,000 | $16K | No change |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 1,396,000 | $15K | Reduce -96.4% |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 20,670,000 | $14K | No change |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 960,000 | $12K | Reduce -87.8% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 1,000,000 | $10K | New |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 370,000 | $8K | New |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 423,000 | $6K | Reduce -82.0% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 102,000 | $5K | Reduce -97.7% |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 272,000 | $5K | Add +277.8% |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | 369,000 | $4K | New |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | 371,000 | $4K | New |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 312,000 | $4K | Reduce -94.5% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 305,000 | $3K | No change |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 177,000 | $2K | No change |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 · principal | 197,078 | $2K | No change |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D · principal | 144,190 | $1K | Add +6169.1% |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 74,000 | $1K | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A · principal | 99,613 | $1K | New |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 111,000 | $1K | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 851 | $766 | Reduce -79.7% |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF · principal | 88,260 | $706 | New |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 851 | $443 | New |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 851 | $340 | New |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L · principal | 9,320 | $117 | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | 6,368 | $88 | No change |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV · principal | 1,652 | $25 | No change |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG · principal | 2,019 | $24 | No change |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV · principal | 1,367 | $18 | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A · principal | 145 | $2 | No change |
Total filed on the 13F, all lines: $58.9B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -35.3% | 4.05% | −1.27 |
| AAPL Apple Inc. | Reduce -39.2% | 3.40% | −0.76 |
| AMAT Applied Materials Inc. | Reduce -88.5% | 0.14% | −0.65 |
| AMZN Amazon.com Inc. | Reduce -37.6% | 2.84% | −0.60 |
| ICE Intercontinental Exchange Inc. | Reduce -48.9% | 0.90% | −0.55 |
| GOOGL Alphabet Inc. Class A | Reduce -50.8% | 1.87% | −0.47 |
| XOM Exxon Mobil Corp. | Reduce -63.3% | 0.44% | −0.45 |
| BX Blackstone Inc. | Reduce -59.0% | 0.39% | −0.44 |
| SCHW Schwab (charles) Corp. | Reduce -60.0% | 0.44% | −0.40 |
| AVGO Broadcom Inc. | Reduce -40.6% | 1.42% | −0.39 |
| BAC Bank of America Corp. | Reduce -46.7% | 0.98% | −0.39 |
| PG The Procter & Gamble Co. | Reduce -40.2% | 0.87% | −0.37 |
| AXP American Express Co. | Reduce -76.7% | 0.16% | −0.34 |
| HD Home Depot Inc. | Reduce -54.1% | 0.32% | −0.34 |
| NDSN Nordson Corp. | Reduce -88.0% | 0.06% | −0.33 |
| MRVL Marvell Technology Inc. | Reduce -54.3% | 0.42% | −0.30 |
| MCD McDonald's Corp. | Reduce -55.8% | 0.38% | −0.30 |
| J Jacobs Solutions Inc. | Reduce -52.2% | 0.33% | −0.29 |
| ZTS Zoetis Inc. | Reduce -58.4% | 0.23% | −0.28 |
| KO The Coca-Cola Co. | Reduce -51.5% | 0.48% | −0.27 |
| WM Waste Management Inc. | Reduce -46.7% | 0.51% | −0.26 |
| V Visa Inc. Class A | Reduce -34.5% | 1.41% | −0.25 |
| BSX Boston Scientific Corp. | Reduce -41.8% | 0.63% | −0.25 |
| CBRE CBRE Group Inc. Class A | Reduce -56.9% | 0.31% | −0.25 |
| TT Trane Technologies PLC | Reduce -47.7% | 0.38% | −0.25 |
| UL Unilever PLC-Sponsored ADR | Reduce -88.1% | 0.04% | −0.23 |
| BA The Boeing Co. | Reduce -63.3% | 0.20% | −0.23 |
| MDT Medtronic PLC | Reduce -43.1% | 0.56% | −0.21 |
| MRSH Marsh & McLennan Cos | Reduce -38.1% | 0.54% | −0.21 |
| FER Ferrovial NV | Reduce -38.7% | 1.49% | −0.21 |
| GS Goldman Sachs Group Inc. | Reduce -51.2% | 0.44% | −0.20 |
| CSX CSX Corp. | Reduce -32.7% | 1.27% | −0.20 |
| MDLZ Mondelez International Inc. Class A | Reduce -58.3% | 0.16% | −0.20 |
| COP Conocophillips | Reduce -53.4% | 0.25% | −0.18 |
| UNH Unitedhealth Group Inc. | Reduce -46.2% | 0.33% | −0.18 |
| ADI Analog Devices Inc. | Reduce -41.8% | 0.74% | −0.17 |
| ACN Accenture PLC Class A | Reduce -45.1% | 0.52% | −0.17 |
| APH Amphenol Corp. Class A | Reduce -39.3% | 0.86% | −0.17 |
| ROK Rockwell Automation Inc. | Reduce -46.3% | 0.50% | −0.17 |
| ODFL Old Dominion Freight Line | Reduce -57.8% | 0.23% | −0.16 |
| EFX Equifax Inc. | Reduce -28.8% | 0.46% | −0.15 |
| LIN Linde PLC | Reduce -32.4% | 0.47% | −0.14 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -63.5% | 0.15% | −0.13 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -78.9% | 0.07% | −0.13 |
| CB Chubb Ltd. | Reduce -42.0% | 0.56% | −0.13 |
| AME Ametek Inc. | Reduce -41.5% | 0.54% | −0.13 |
| AVY Avery Dennison Corp. | Reduce -63.6% | 0.13% | −0.12 |
| GE General Electric | Reduce -49.9% | 0.22% | −0.12 |
| ORCL Oracle Corp. | Reduce -44.7% | 0.11% | −0.12 |
| ESLT Elbit Systems Ltd. | Reduce -62.0% | 0.13% | −0.11 |
Portfolio Buys Q3 2025 → Q4 2025
| CCI Crown Castle Inc. | Add +124.2% | 1.76% | +1.08 |
| AMT American Tower Corp. | Add +36.3% | 1.81% | +0.66 |
| GOOG Alphabet Inc. Class C | Add +6.1% | 1.53% | +0.64 |
| NVDA Nvidia Corp. | Add +3.9% | 2.66% | +0.63 |
| KLAC KLA Corp. | Add +406.9% | 0.53% | +0.46 |
| EXC Exelon Corp. | Add +3.0% | 1.71% | +0.35 |
| ASX Ase Technology Holding -ADR | Add +11.1% | 0.55% | +0.28 |
| INFY Infosys Ltd.-SP ADR | Add +18.9% | 0.69% | +0.27 |
| IQV Iqvia Holdings Inc. | Add +3.1% | 0.73% | +0.26 |
| IR Ingersoll-Rand Inc. | New | 0.25% | +0.25 |
| HDB HDFC Bank Ltd.-ADR | Add +8.7% | 0.77% | +0.25 |
| ED Consolidated Edison Inc. | Add +3.4% | 1.04% | +0.23 |
| TTE Totalenergies SE | New | 0.23% | +0.23 |
| TLK Telkom Indonesia Persero-ADR | Add +1.4% | 0.73% | +0.22 |
| PAC Grupo Aeroportuario Pac-ADR | Add +21.8% | 0.52% | +0.21 |
| ALL Allstate Corp. | Add +451.3% | 0.24% | +0.20 |
| USB US Bancorp | Add +5250.6% | 0.19% | +0.19 |
| ASML ASML Holding NV-NY Reg SHS | Add +12.4% | 0.49% | +0.18 |
| SLB SLB Ltd. | Add +1.1% | 0.59% | +0.17 |
| VALE Vale SA-SP ADR | Add +0.9% | 0.50% | +0.17 |
| LMT Lockheed Martin Corp. | Add +339.1% | 0.20% | +0.17 |
| AON Aon PLC Class A | Add +2.0% | 0.77% | +0.16 |
| MMM 3M Co. | Add +632.2% | 0.18% | +0.16 |
| PANW Palo Alto Networks Inc. | Add +59.3% | 0.35% | +0.16 |
| AEE Ameren Corporation | Add +6051.1% | 0.16% | +0.16 |
| QLTY GMO U.S. Quality ETF | Add +65.1% | 0.16% | +0.13 |
| LRCX Lam Research Corp. | Add +135.1% | 0.17% | +0.13 |
| BMY Bristol-Myers Squibb Co. | Add +292.0% | 0.14% | +0.12 |
| TJX TJX Companies Inc. | Add +46.4% | 0.24% | +0.12 |
| HCA HCA Healthcare Inc. | Add +70.6% | 0.20% | +0.12 |
| ZBRA Zebra Technologies Corp. Class A | Add +82.2% | 0.25% | +0.12 |
| PGR Progressive Corp. | Add +1566.7% | 0.12% | +0.11 |
| TX Ternium SA-Sponsored ADR | Add +0.9% | 0.38% | +0.11 |
| IVV iShares Core S&P 500 ETF | Add +5.9% | 0.38% | +0.10 |
| JNJ Johnson & Johnson | Add +3.6% | 0.32% | +0.10 |
| PBR Petroleo Brasileiro-Spon ADR | Add +7.4% | 0.47% | +0.10 |
| AJG Arthur J Gallagher & Co. | New | 0.09% | +0.09 |
| TSLA Tesla Inc. | Add +5.2% | 0.35% | +0.09 |
| PEP Pepsico Inc. | Add +16.2% | 0.26% | +0.09 |
| ARCO Arcos Dorados Holdings Inc. Class A | Add +6.7% | 0.27% | +0.08 |
| VLTO Veralto Corp. | Add +68.6% | 0.16% | +0.08 |
| B Barrick Mining Corp. | Add +1.5% | 0.19% | +0.08 |
| HPQ HP Inc. | Add +625.0% | 0.09% | +0.08 |
| MGA Magna International Inc. | Add +128.8% | 0.11% | +0.07 |
| RTX RTX Corp. | Add +412.6% | 0.09% | +0.07 |
| MA Mastercard Inc. Class A | Add +2.1% | 0.32% | +0.07 |
| AZN Astrazeneca PLC-Spons ADR | Add +0.2% | 0.21% | +0.07 |
| PM Philip Morris International | Add +10.7% | 0.25% | +0.07 |
| GD General Dynamics Corp. | Add +11.4% | 0.24% | +0.07 |
| AEM Agnico Eagle Mines Ltd. | Add +3.8% | 0.27% | +0.06 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 100,000 | $66.6Mbefore exit |
| IWM iShares Russell 2000 ETF | put | Sold out | 100,000 | $24.2Mbefore exit |
| GH Guardant Health Inc. | call | New | 95,000 | $9.7M |
| LITE Lumentum Holdings Inc. | put | New | 25,000 | $9.2M |
| GH Guardant Health Inc. | put | New | 76,000 | $7.8M |
| IREN Iren Ltd. | call | New | 150,000 | $5.7M |
| LRN Stride Inc. | call | New | 70,000 | $4.5M |
| NBIS Nebius Group NV | call | New | 50,000 | $4.2M |
| IREN Iren Ltd. | put | New | 104,000 | $3.9M |
| APP AppLovin Corp. Class A | put | Sold out | 5,000 | $3.6Mbefore exit |
| W Wayfair Inc. Class A | put | Sold out | 40,000 | $3.6Mbefore exit |
| BMRN Biomarin Pharmaceutical Inc. | put | New | 50,000 | $3.0M |
| NBIS Nebius Group NV | put | New | 32,000 | $2.7M |
| BE Bloom Energy Corp. Class A | put | Add +50.0% | 30,000 | $2.6M |
| NTNX Nutanix Inc. Class A | call | New | 50,000 | $2.6M |
| BBIO Bridgebio Pharma Inc. | call | New | 30,000 | $2.3M |
| ON On Semiconductor | put | New | 40,000 | $2.2M |
| PGY Pagaya Technologies Ltd. Class A | call | New | 100,000 | $2.1M |
| BILL Bill Holdings Inc. | put | Sold out | 38,100 | $2.0Mbefore exit |
| PAR Par Technology Corp. | call | Sold out | 50,000 | $2.0Mbefore exit |
| DOCN Digitalocean Holdings Inc. | put | New | 40,000 | $1.9M |
| BBIO Bridgebio Pharma Inc. | put | New | 24,000 | $1.8M |
| PGY Pagaya Technologies Ltd. Class A | put | Add +220.0% | 80,000 | $1.7M |
| NTNX Nutanix Inc. Class A | put | New | 32,000 | $1.7M |
| XMTR Xometry Inc. Class A | put | Sold out | 30,000 | $1.6Mbefore exit |
| GLXY Galaxy Digital Inc. Class A | put | New | 66,000 | $1.5M |
| SMCI Super Micro Computer Inc. | call | New | 50,000 | $1.5M |
| CORZ Core Scientific Inc. | call | New | 100,000 | $1.5M |
| DBX Dropbox Inc. Class A | call | New | 50,000 | $1.4M |
| BILL Bill Holdings Inc. | call | Reduce -58.3% | 25,000 | $1.4M |
| WDC Western Digital Corp. | put | Sold out | 10,000 | $1.2Mbefore exit |
| OPEN Opendoor Technologies Inc. | put | Reduce -80.0% | 200,000 | $1.2M |
| CRMD Cormedix Inc. | call | New | 100,000 | $1.2M |
| BTG B2GOLD Corp. | call | New | 250,000 | $1.1M |
| GLXY Galaxy Digital Inc. Class A | call | New | 50,000 | $1.1M |
| INDI Indie Semiconductor Inc. Class A | call | New | 300,000 | $1.1M |
| APLD Applied Digital Corp. | put | New | 40,000 | $981K |
| CRMD Cormedix Inc. | put | New | 80,000 | $930K |
| PL Planet Labs PBC | put | Sold out | 50,000 | $649Kbefore exit |
| FOUR SHIFT4 Payments Inc. Class A | call | New | 10,000 | $630K |
| CORZ Core Scientific Inc. | put | New | 40,000 | $582K |
| WULF Terawulf Inc. | call | New | 50,000 | $575K |
| ON On Semiconductor | call | New | 10,000 | $542K |
| BBAI Bigbear.ai Holdings Inc. | put | Reduce -50.0% | 100,000 | $540K |
| SRPT Sarepta Therapeutics Inc. | call | Reduce -33.3% | 25,000 | $538K |
| DOCN Digitalocean Holdings Inc. | call | New | 10,000 | $481K |
| PLUG Plug Power Inc. | put | Sold out | 200,000 | $466Kbefore exit |
| WULF Terawulf Inc. | put | New | 32,000 | $368K |
| HTZ Hertz Global Hldgs Inc. | put | New | 50,000 | $257K |
| APLD Applied Digital Corp. | call | New | 10,000 | $245K |
Showing the first 50 of 51.
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
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +1.2% | 38,091,000 | $1.7M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Add +204.0% | 92,235,000 | $1.5M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -21.8% | 82,732,000 | $1.3M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Reduce -12.8% | 125,940,000 | $1.3M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -1.3% | 131,651,000 | $1.2M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | Add +25.7% | 99,692,000 | $1.2M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +9.1% | 114,562,000 | $1.1M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Sold out | 101,506,000 | $1.0Mbefore exit |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Add +1.1% | 78,530,000 | $977K |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Sold out | 85,374,000 | $962Kbefore exit |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | New | 103,755,000 | $957K |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | Add +12.0% | 95,038,000 | $934K |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Add +31.1% | 26,789,000 | $901K |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +5.1% | 71,139,000 | $896K |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Add +6.4% | 82,440,000 | $884K |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | Add +20.9% | 21,062,000 | $868K |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Add +57.0% | 70,141,000 | $825K |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -0.8% | 78,987,000 | $814K |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | New | 80,938,000 | $810K |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Add +81.5% | 42,343,000 | $800K |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Reduce -53.8% | 20,727,000 | $770K |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +4.6% | 73,892,000 | $732K |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Reduce -0.2% | 70,184,000 | $721K |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Reduce -32.4% | 54,903,000 | $713K |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Add +1.6% | 55,229,000 | $706K |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | Add +38.3% | 73,302,000 | $662K |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Add +1.9% | 60,845,000 | $657K |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Add +194.9% | 63,848,000 | $656K |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Reduce -4.1% | 50,793,000 | $627K |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Reduce -38.9% | 53,732,000 | $623K |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 62,401,000 | $620Kbefore exit |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Add +2.1% | 64,150,000 | $616K |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -2.3% | 60,401,000 | $599K |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Add +141.9% | 12,845,000 | $599K |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | Add +185.1% | 55,888,000 | $585K |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | Reduce -13.6% | 13,473,000 | $575K |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Add +22.2% | 56,620,000 | $562K |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Reduce -21.1% | 36,759,000 | $547K |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Add +71.0% | 59,840,000 | $536K |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Add +131.3% | 55,404,000 | $532K |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Add +12.4% | 43,574,000 | $520K |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 46,143,000 | $500K |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | Reduce -0.3% | 35,212,000 | $500K |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | Add +2.5% | 46,181,000 | $460K |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +269.9% | 45,161,000 | $455K |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | Add +2.5% | 46,090,000 | $445K |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Sold out | 22,249,000 | $440Kbefore exit |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | New | 38,848,000 | $409K |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +2.5% | 44,129,000 | $406K |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | New | 41,651,000 | $403K |
Showing the first 50 of 187.
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 |