Lombard Odier Asset Management (USA) Corp

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Lombard Odier Asset Management (USA) Corp reported 282 stock positions worth $322.5 million. Its top holding was Republic Services (RSG) at 2.6% of the portfolio, followed by Nexxen International (NEXN, 2.5%) and Silence Therapeutics PLC-ADR (SLN, 2.4%). Compared with Q1 2025, it opened 181 new positions, sold out of 28, added to 63 and reduced 36. The biggest buy was a new position in Duke Energy (DUK) and the biggest sale an exit from Waste Management (WM).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001491719
Portfolio Value
$322.5M (Q2 2025)
SEC Filing
0000908834-25-000253 ↗ filed Aug 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $676.7M Q1 2024 Q2 2024: $227.3M Q2 2024 Q3 2024: $231.3M Q3 2024 Q4 2024: $229.3M Q4 2024 Q1 2025: $239.1M Q1 2025 Q2 2025: $322.5M $322.5M Q2 2025 Q3 2025: $374.8M Q3 2025 Q4 2025: $185.9M Q4 2025 Q1 2026: $132.6M Q1 2026 Q2 2026: $72.0M Q2 2026

Holdings 282 stocks · $322.5M
RSG Republic Services Inc. 2.59% 33,880 $8.4M Add +24.4%
NEXN Nexxen International Ltd. 2.51% 1,066,927 $8.1M Reduce -15.6%
SLN Silence Therapeutics PLC-ADR 2.42% 1,849,734 $7.8M No change
BMI Badger Meter Inc. 2.11% 27,760 $6.8M Add +19.8%
VZ Verizon Communications Inc. 1.63% 121,145 $5.2M Add +10.1%
BRO Brown & Brown Inc. 1.57% 45,528 $5.0M Add +242.9%
TDG Transdigm Group Inc. 1.41% 2,984 $4.5M Add +403.2%
DUK Duke Energy Corp. 1.33% 36,246 $4.3M New
CZR Caesars Entertainment Inc. 1.25% 142,349 $4.0M Add +23.1%
RBC RBC Bearings Inc. 1.19% 9,963 $3.8M New
WSO Watsco Inc. 1.16% 8,493 $3.8M Add +181.5%
TRI Thomson Reuters Corp. 1.15% 18,457 $3.7M Reduce -17.3%
XOP SS SPDR S&P Og Exp & Prod 1.13% 29,000 $3.6M Add +11.5%
AGO Assured Guaranty Ltd. 1.08% 40,135 $3.5M Add +27.6%
KR Kroger Co. 1.07% 48,328 $3.5M New
LAUR Laureate Education Inc. 1.03% 141,665 $3.3M Add +13.1%
QXO Qxo Inc. 1.02% 152,440 $3.3M Add +306.7%
RACE Ferrari NV 1.02% 6,678 $3.3M New
ORLY O'reilly Automotive Inc. 1.01% 36,268 $3.3M Reduce -43.0%
AZO AutoZone Inc. 0.98% 853 $3.2M Add +8.8%
COR Cencora Inc. 0.98% 10,534 $3.2M New
ITRI Itron Inc. 0.97% 23,727 $3.1M New
APTV Aptiv PLC 0.97% 45,712 $3.1M Reduce -18.7%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.95% 9,565 $3.1M Add +30.4%
PGR Progressive Corp. 0.94% 11,396 $3.0M New
HEI Heico Corp. 0.93% 9,181 $3.0M Add +54.8%
HWM Howmet Aerospace Inc. 0.93% 16,110 $3.0M Add +0.5%
APG Api Group Corp. 0.92% 58,045 $3.0M New
NEM Newmont Corp. 0.90% 50,000 $2.9M Reduce -66.8%
BKR Baker Hughes Co. 0.89% 75,177 $2.9M Add +20.7%
DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN 0.89% 700,000 $2.9M Add +16.6%
TMHC Taylor Morrison Home Corp. 0.88% 46,086 $2.8M Add +24.5%
TSM Taiwan Semiconductor-SP ADR 0.88% 12,474 $2.8M New
TLN Talen Energy Corp. 0.87% 9,688 $2.8M Add +189.8%
GOOGL Alphabet Inc. Class A 0.86% 15,796 $2.8M Add +203.8%
NVDA Nvidia Corp. 0.82% 16,690 $2.6M New
CLF Cleveland-Cliffs Inc. 0.81% 345,000 $2.6M Add +32.7%
WPM Wheaton Precious Metals Corp. 0.81% 28,998 $2.6M Reduce -6.6%
NBR Nabors Industries Ltd. 0.79% 91,046 $2.6M Add +51.7%
DAR Darling Ingredients Inc. 0.77% 65,245 $2.5M Add +28.0%
MSI Motorola Solutions Inc. 0.76% 5,812 $2.4M Add +11.6%
MSFT Microsoft Corp. 0.72% 4,677 $2.3M Add +106.2%
PRMB Primo Brands Corp. 0.72% 78,247 $2.3M New
REVG Rev Group Inc. 0.70% 47,595 $2.3M Reduce -57.5%
MCK McKesson Corp. 0.70% 3,077 $2.3M Reduce -57.8%
MBLY Mobileye Global Inc. Class A 0.69% 124,226 $2.2M New
SIMO Silicon Motion Technol-ADR 0.68% 28,996 $2.2M Add +0.4%
INTC Intel Corp. 0.67% 96,657 $2.2M Reduce -6.4%
POWL Powell Industries Inc. 0.66% 10,070 $2.1M New
FCX Freeport-McMoran Inc. 0.65% 48,329 $2.1M New
PRGO Perrigo Co. PLC 0.65% 78,066 $2.1M Add +45.0%
FLUT Flutter Entertainment PLC-Di 0.64% 7,227 $2.1M Reduce -54.8%
WFRD Weatherford International PL 0.63% 40,130 $2.0M New
MUR Murphy Oil Corp. 0.62% 89,000 $2.0M Add +119.8%
FSLR First Solar Inc. 0.62% 12,083 $2.0M New
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 0.61% 46,538 $2.0M Add +7.9%
KEX Kirby Corp. 0.59% 16,698 $1.9M Add +41.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.59% 3,057 $1.9M New
NXPI NXP Semiconductors NV 0.58% 8,617 $1.9M Reduce -18.4%
VST Vistra Corp. 0.58% 9,667 $1.9M Reduce -11.7%
IWM iShares Russell 2000 ETF 0.58% 8,663 $1.9M New
COF Capital One Financial Corp. 0.58% 8,756 $1.9M New
AER Aercap Holdings NV 0.57% 15,714 $1.8M Reduce -61.4%
GSM Ferroglobe PLC 0.57% 499,391 $1.8M New
MEOH Methanex Corp. 0.56% 54,369 $1.8M New
COHR Coherent Corp. 0.56% 20,136 $1.8M Add +17.7%
PCT Purecycle Technologies Inc. 0.54% 126,861 $1.7M Reduce -20.7%
CRS Carpenter Technology 0.52% 6,035 $1.7M Reduce -6.6%
GLNG Golar LNG Ltd. 0.51% 40,274 $1.7M Reduce -24.1%
ALIT Alight Inc. Class A 0.51% 292,362 $1.7M Add +54.8%
OPCH Option Care Health Inc. 0.51% 50,822 $1.7M Reduce -14.1%
SNDK Sandisk Corp. 0.51% 36,247 $1.6M Reduce -9.4%
RKLB Rocket Lab Corp. 0.49% 44,302 $1.6M New
MRVL Marvell Technology Inc. 0.48% 19,956 $1.5M Add +7.0%
NXE Nexgen Energy Ltd. 0.48% 221,504 $1.5M New
LB Landbridge Co. LLC-A 0.46% 22,148 $1.5M Reduce -6.9%
CCJ Cameco Corp. 0.46% 20,140 $1.5M Reduce -46.3%
MHK Mohawk Industries Inc. 0.45% 13,769 $1.4M Add +89.7%
RTX RTX Corp. 0.45% 9,830 $1.4M Add +36.4%
DLTR Dollar Tree Inc. 0.44% 14,209 $1.4M Add +33.7%
CNNE Cannae Holdings Inc. 0.43% 67,218 $1.4M Add +29.1%
CHRW C.H. Robinson Worldwide Inc. 0.43% 14,455 $1.4M Add +32.6%
APD Air Products & Chemicals Inc. 0.42% 4,783 $1.3M Add +32.9%
EXE Expand Energy Corp. 0.42% 11,521 $1.3M Add +32.8%
DRVN Driven Brands Holdings Inc. 0.41% 74,715 $1.3M Add +30.1%
ALB Albemarle Corp. 0.40% 20,644 $1.3M New
BLDR Builders Firstsource Inc. 0.40% 10,921 $1.3M Add +22.3%
HAL Halliburton Co. 0.38% 60,592 $1.2M Add +66.0%
TECK Teck Resources Ltd.-CLS B 0.38% 30,159 $1.2M Add +32.6%
GPRE Green Plains Inc. 0.37% 199,194 $1.2M New
XPO Xpo Inc. 0.37% 9,428 $1.2M Add +32.6%
GT Goodyear Tire & Rubber Co. 0.37% 114,000 $1.2M Reduce -11.2%
LUV Southwest Airlines Co. 0.36% 36,106 $1.2M New
CCL Carnival Corp. 0.35% 40,245 $1.1M Add +30.5%
WCN Waste Connections Inc. 0.35% 5,993 $1.1M New
MGM MGM Resorts International 0.34% 32,000 $1.1M Add +4.9%
OSIS Osi Systems Inc. 0.34% 4,893 $1.1M New
LEA Lear Corp. 0.34% 11,550 $1.1M Add +120.5%
CENX Century Aluminum Company 0.34% 60,411 $1.1M Reduce -4.3%
PHM Pultegroup Inc. 0.33% 9,998 $1.1M Add +32.9%
UBER Uber Technologies Inc. 0.32% 10,932 $1.0M Reduce -0.6%
AMZN Amazon.com Inc. 0.31% 4,524 $993K Add +2.8%
SN Sharkninja Inc. 0.31% 10,015 $991K New
COIN Coinbase Global Inc. Class A 0.30% 2,784 $976K New
BABA Alibaba Group Holding-SP ADR 0.28% 8,072 $915K Reduce -12.3%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.28% 26,693 $902K Add +24.1%
MATX Matson Inc. 0.28% 8,013 $892K Add +157.0%
PFGC Performance Food Group Co. 0.27% 10,131 $886K Reduce -71.0%
SGI Somnigroup International Inc. 0.27% 13,010 $885K New
GDX Vaneck Gold Miners ETF 0.27% 17,000 $885K Reduce -57.5%
SNX TD Synnex Corp. 0.27% 6,367 $864K New
GFF Griffon Corp. 0.25% 10,984 $795K Add +39.0%
TTWO Take-Two Interactive Softwre 0.25% 3,273 $795K New
APO Apollo Global Management Inc. 0.23% 5,317 $754K Reduce -72.0%
LPX Louisiana-Pacific Corp. 0.23% 8,525 $733K Reduce -64.5%
LINE Lineage Inc. 0.23% 16,734 $728K New
SHW The Sherwin-Williams Co. 0.22% 2,109 $724K Add +33.0%
KMX Carmax Inc. 0.22% 10,482 $704K New
M Macy's Inc. 0.22% 60,000 $700K No change
NSC Norfolk Southern Corp. 0.20% 2,578 $660K Add +32.8%
PRM Perimeter Solutions Inc. 0.20% 46,306 $645K Add +32.4%
FND Floor & Decor Holdings Inc. Class A 0.19% 8,244 $626K Add +34.6%
ALRM Alarm.com Holdings Inc. 0.19% 10,876 $615K New
WTTR Select Water Solutions Inc. 0.19% 69,444 $600K Add +33.0%
DBRG Digitalbridge Group Inc. 0.18% 55,136 $571K Add +17.9%
UAL United Airlines Holdings Inc. 0.17% 7,057 $562K Reduce -30.2%
DAL Delta Air Lines Inc. 0.16% 10,533 $518K Reduce -34.5%
BILL Bill Holdings Inc. 0.14% 9,632 $446K New
TWST Twist Bioscience Corp. 0.14% 12,017 $442K New
PCVX Vaxcyte Inc. 0.14% 13,446 $437K New
RAMP Liveramp Holdings Inc. 0.14% 13,204 $436K New
FSS Federal Signal Corp. 0.14% 4,094 $436K New
DHI D.R. Horton Inc. 0.13% 3,375 $435K Add +35.0%
OMC Omnicom Group 0.13% 6,043 $435K New
GNRC Generac Holdings Inc. 0.13% 3,032 $434K New
ALGN Align Technology Inc. 0.13% 2,290 $434K New
BX Blackstone Inc. 0.13% 2,893 $433K New
TPH Tri Pointe Homes Inc. 0.13% 13,509 $432K New
MAN Manpowergroup Inc. 0.13% 10,669 $431K New
CNC Centene Corp. 0.13% 7,919 $430K New
TOL Toll Brothers Inc. 0.13% 3,758 $429K New
MTG Mgic Investment Corp. 0.13% 15,389 $428K New
WH Wyndham Hotels & Resorts Inc. 0.13% 5,274 $428K New
DDS Dillards Inc. Class A 0.13% 1,024 $428K New
THO Thor Industries Inc. 0.13% 4,812 $427K New
COLM Columbia Sportswear Co. 0.13% 6,995 $427K New
SHOO Steven Madden Ltd. filed as MADDEN STEVEN LTD 0.13% 17,785 $426K New
DCI Donaldson Co. Inc. 0.13% 6,146 $426K New
EXP Eagle Materials Inc. 0.13% 2,108 $426K New
HUN Huntsman Corp. 0.13% 40,886 $426K New
AMBA Ambarella Inc. 0.13% 6,438 $425K New
AYI Acuity Inc. 0.13% 1,423 $425K New
AFG American Financial Group Inc. 0.13% 3,358 $424K New
KHC The Kraft Heinz Co. 0.13% 16,409 $424K New
EMN Eastman Chemical Co. 0.13% 5,665 $423K New
AMCR Amcor PLC 0.13% 45,977 $423K New
IBP Installed Building Products 0.13% 2,329 $420K New
AIT Applied Industrial Tech Inc. 0.13% 1,804 $419K New
PNC PNC Financial Services Group 0.13% 2,248 $419K New
AEO American Eagle Outfitters 0.13% 43,546 $419K New
RIVN Rivian Automotive Inc. Class A 0.13% 30,484 $419K New
CLDX Celldex Therapeutics Inc. 0.13% 20,567 $419K New
SCCO Southern Copper Corp. 0.13% 4,129 $418K New
ESAB Esab Corp. 0.13% 3,464 $418K New
BBY Best Buy Co. Inc. 0.13% 6,194 $416K New
TXT Textron Inc. 0.13% 5,145 $413K New
EEFT Euronet Worldwide Inc. 0.13% 4,069 $413K New
LEN Lennar Corp. Class A 0.13% 3,729 $412K Reduce -22.5%
EPAM Epam Systems Inc. 0.13% 2,332 $412K New
CNX CNX Resources Corp. 0.13% 12,241 $412K New
MRCY Mercury Systems Inc. 0.13% 7,605 $410K Add +19.2%
KKR KKR & Co. Inc. 0.13% 3,066 $408K New
RVLV Revolve Group Inc. Class A 0.13% 20,131 $404K New
WTS Watts Water Technologies-A 0.12% 1,636 $402K New
AM Antero Midstream Corp. 0.12% 21,195 $402K New
CYH Community Health Systems Inc. 0.12% 118,000 $401K Reduce -11.9%
NSP Insperity Inc. 0.12% 6,662 $401K New
SCI Service Corp. International 0.12% 4,908 $400K New
FTI Technipfmc PLC 0.12% 11,595 $399K New
MGY Magnolia Oil & Gas Corp. Class A 0.12% 17,749 $399K New
QRVO Qorvo Inc. 0.12% 4,673 $397K New
VLO Valero Energy Corp. 0.12% 2,941 $395K New
EOG EOG Resources Inc. 0.12% 3,291 $394K New
OMCL Omnicell Inc. 0.12% 13,362 $393K New
RHI Robert Half Inc. 0.12% 9,548 $392K New
ALLY Ally Financial Inc. 0.12% 9,984 $389K Add +29.2%
ROKU Roku Inc. 0.12% 4,419 $388K New
STLD Steel Dynamics Inc. 0.12% 3,016 $386K Reduce -87.9%
WU Western Union Co. 0.12% 45,698 $385K New
DHT DHT Holdings Inc. 0.12% 35,205 $381K New
WRBY Warby Parker Inc. Class A 0.12% 17,252 $378K New
GTM Zoominfo Technologies Inc. 0.12% 37,258 $377K Reduce -68.3%
FDX FedEx Corp. 0.12% 1,654 $376K New
QLYS Qualys Inc. 0.12% 2,619 $374K New
SANM Sanmina Corp. 0.12% 3,791 $371K New
CRL Charles River Laboratories 0.11% 2,443 $371K New
ZBRA Zebra Technologies Corp. Class A 0.11% 1,201 $370K New
CSL Carlisle Cos Inc. 0.11% 989 $369K New
PNR Pentair PLC 0.11% 3,535 $363K New
MLI Mueller Industries Inc. 0.11% 4,538 $361K New
YELP Yelp Inc. 0.11% 10,484 $359K New
PJT PJT Partners Inc. Class A 0.11% 2,144 $354K New
CAVA Cava Group Inc. 0.11% 4,168 $351K New
CPT Camden Property Trust 0.11% 3,099 $349K New
NKE Nike Inc. Class B 0.11% 4,904 $348K New
GKOS Glaukos Corp. 0.11% 3,371 $348K New
GIS General Mills Inc. 0.11% 6,662 $345K New
FTRE Fortrea Holdings Inc. 0.11% 69,014 $341K New
STKL Sunopta Inc. 0.10% 58,366 $339K Add +16.4%
MTH Meritage Homes Corp. 0.10% 5,050 $338K New
ALLE Allegion PLC 0.10% 2,345 $338K New
HOLX Hologic Inc. 0.10% 5,164 $336K New
H Hyatt Hotels Corp. Class A 0.10% 2,406 $336K New
COP Conocophillips 0.10% 3,740 $336K New
WST West Pharmaceutical Services 0.10% 1,504 $329K New
TGT Target Corp. 0.10% 3,269 $322K New
AWI Armstrong World Industries 0.10% 1,978 $321K New
CUBE Cubesmart 0.10% 7,519 $320K New
ICUI Icu Medical Inc. 0.10% 2,392 $316K New
SNA Snap-on Inc. 0.10% 1,008 $314K New
REGN Regeneron Pharmaceuticals 0.10% 594 $312K New
CGNX Cognex Corp. 0.10% 9,758 $310K New
COO The Cooper Cos Inc. 0.10% 4,345 $309K New
MEDP Medpace Holdings Inc. 0.10% 980 $308K New
FIX Comfort Systems USA Inc. 0.10% 573 $307K New
FN Fabrinet 0.10% 1,041 $307K New
FWRD Forward Air Corp. 0.10% 12,499 $307K Reduce -66.4%
FBP First Bancorp Puerto Rico 0.10% 14,704 $306K New
BDX Becton Dickinson and Co. 0.09% 1,758 $303K New
CMCSA Comcast Corp. Class A 0.09% 8,428 $301K New
ABNB Airbnb Inc. Class A 0.09% 2,253 $298K New
POST Post Holdings Inc. filed as POST HLDGS INC 0.09% 2,730 $298K New
YOU Clear Secure Inc. Class A 0.09% 10,558 $293K New
MMSI Merit Medical Systems Inc. 0.09% 3,120 $292K New
HLT Hilton Worldwide Holdings Inc. 0.09% 1,090 $290K New
VRNS Varonis Systems Inc. 0.09% 5,616 $285K New
VAC Marriott Vacations World 0.09% 3,868 $280K New
RVTY Revvity Inc. 0.09% 2,885 $279K New
WSM Williams-Sonoma Inc. 0.09% 1,695 $277K New
UHS Universal Health Services-B 0.08% 1,511 $274K New
A Agilent Technologies Inc. 0.08% 2,270 $268K New
CAMT Camtek Ltd. 0.08% 3,162 $267K New
NTAP Netapp Inc. 0.08% 2,502 $267K New
BA The Boeing Co. 0.08% 1,263 $265K New
AN Autonation Inc. 0.08% 1,294 $257K Reduce -93.8%
DLB Dolby Laboratories Inc. Class A 0.08% 3,429 $255K New
WFC Wells Fargo & Co. 0.08% 3,155 $253K New
BAH Booz Allen Hamilton Holdings 0.08% 2,427 $253K New
FTDR Frontdoor Inc. 0.08% 4,282 $252K New
AKAM Akamai Technologies Inc. 0.08% 3,158 $252K New
RMD Resmed Inc. 0.08% 974 $251K New
AXSM Axsome Therapeutics Inc. 0.08% 2,406 $251K New
DDOG Datadog Inc. Class A 0.08% 1,853 $249K New
ABR Arbor Realty Trust Inc. 0.08% 23,161 $248K New
PAYC Paycom Software Inc. 0.08% 1,068 $247K New
FRSH Freshworks Inc. Class A 0.08% 16,520 $246K New
OTIS Otis Worldwide Corp. 0.08% 2,475 $245K New
VMI Valmont Industries 0.08% 743 $243K New
DBX Dropbox Inc. Class A 0.08% 8,474 $242K New
RDDT Reddit Inc. Class A 0.07% 1,597 $240K New
AMD Advanced Micro Devices 0.07% 1,690 $240K New
WAB Wabtec Corp. 0.07% 1,138 $238K New
PKG Packaging Corp. of America 0.07% 1,258 $237K New
GTES Gates Industrial Corp. UK Ltd. 0.07% 10,282 $237K New
ELS Equity Lifestyle Properties 0.07% 3,835 $237K New
TPL Texas Pacific Land Corp. 0.07% 220 $232K New
CVNA Carvana Co. 0.07% 688 $232K New
KFY Korn Ferry 0.07% 3,129 $229K New
GNW Genworth Financial Inc. 0.07% 29,374 $229K New
EXLS Exlservice Holdings Inc. 0.07% 5,195 $227K New
LIN Linde PLC 0.07% 477 $224K New
BLK BlackRock Inc. 0.07% 213 $223K New
WMB Williams Cos Inc. 0.07% 3,528 $222K New
ITW Illinois Tool Works 0.07% 896 $222K New
GLBE Global-E Online Ltd. 0.07% 6,372 $214K New
FOXA Fox Corp. Class A 0.07% 3,810 $214K New
DOCS Doximity Inc. Class A 0.07% 3,480 $213K New
TEL Te Connectivity PLC 0.07% 1,249 $211K New
EME Emcor Group Inc. 0.07% 392 $210K New
LCII Lci Industries 0.06% 2,278 $208K New
HD Home Depot Inc. 0.06% 562 $206K New
FTAI Ftai Aviation Ltd. 0.06% 1,783 $205K New

Options reported separately and not counted above: SPY puts ($115.7M), AAL puts ($92.7M), CAR puts ($61.9M), XOP puts ($50.3M), TLT puts ($44.6M), NCLH puts ($34.2M), BHC puts ($33.6M), GDX puts ($31.2M), RIVN puts ($29.7M), CMCSA calls ($26.8M), HLF puts ($24.1M), BMY calls ($22.0M), and 64 more.

Other holdings (4): bonds, preferreds, convertibles and warrants · $77.1M (not counted above)
SecurityClassShares / PrincipalValueChange
STRATEGY INC (MSTR 0.875 03/15/31) NOTE 0.875% 3/1 · principal 20,000,000$37.9MNo change
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 15,000,000$15.3MNo change
NCL CORPORATION LTD (NCLH 1.125 02/15/27) NOTE 1.125% 2/1 · principal 14,500,000$14.3MNo change
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 14,000,000$9.6MNew

Total filed on the 13F, all lines: $399.6M.

Portfolio Sells Q1 2025 → Q2 2025
WM Waste Management Inc. Sold out 0.00% −2.80
NEM Newmont Corp. Reduce -66.8% 0.90% −2.14
ORLY O'reilly Automotive Inc. Reduce -43.0% 1.01% −1.53
BERY Berry Global Group Inc. Sold out 0.00% −1.52
RBA RB Global Inc. Sold out 0.00% −1.47
WTRG Essential Utilities Inc. Sold out 0.00% −1.44
NBN Northeast Bank Sold out 0.00% −1.38
MCK McKesson Corp. Reduce -57.8% 0.70% −1.35
AN Autonation Inc. Reduce -93.8% 0.08% −1.34
CCK Crown Holdings Inc. Sold out 0.00% −1.31
GFL GFL Environmental Inc.-Sub VT Sold out 0.00% −1.21
STLD Steel Dynamics Inc. Reduce -87.9% 0.12% −1.19
AER Aercap Holdings NV Reduce -61.4% 0.57% −1.17
PM Philip Morris International Sold out 0.00% −1.16
NUE Nucor Corp. Sold out 0.00% −1.13
GWW WW Grainger Inc. Sold out 0.00% −1.09
BBW Build-A-Bear Workshop Inc. Sold out 0.00% −1.01
EXPE Expedia Group Inc. Sold out 0.00% −0.98
NEXN Nexxen International Ltd. Reduce -15.6% 2.51% −0.91
PFGC Performance Food Group Co. Reduce -71.0% 0.27% −0.88
NRG NRG Energy Inc. Sold out 0.00% −0.87
APO Apollo Global Management Inc. Reduce -72.0% 0.23% −0.85
FLUT Flutter Entertainment PLC-Di Reduce -54.8% 0.64% −0.84
REVG Rev Group Inc. Reduce -57.5% 0.70% −0.78
MPC Marathon Petroleum Corp. Sold out 0.00% −0.73
LPX Louisiana-Pacific Corp. Reduce -64.5% 0.23% −0.70
DMRC Digimarc Corp. Sold out 0.00% −0.57
SGHC Super Group SGHC Ltd. Sold out 0.00% −0.55
PD Pagerduty Inc. Sold out 0.00% −0.50
GDX Vaneck Gold Miners ETF Reduce -57.5% 0.27% −0.49
NXT Nextpower Inc. Sold out 0.00% −0.49
BBSI Barrett Business SVCS Inc. Sold out 0.00% −0.47
TRI Thomson Reuters Corp. Reduce -17.3% 1.15% −0.46
APTV Aptiv PLC Reduce -18.7% 0.97% −0.43
GTM Zoominfo Technologies Inc. Reduce -68.3% 0.12% −0.37
CASY Casey's General Stores Inc. Sold out 0.00% −0.36
OPCH Option Care Health Inc. Reduce -14.1% 0.51% −0.35
MUSA Murphy USA Inc. Sold out 0.00% −0.35
GLNG Golar LNG Ltd. Reduce -24.1% 0.51% −0.33
AGCO Agco Corp. Sold out 0.00% −0.32
INTC Intel Corp. Reduce -6.4% 0.67% −0.31
GEV GE Vernova Inc. Sold out 0.00% −0.30
SNDK Sandisk Corp. Reduce -9.4% 0.51% −0.29
SMWB Similarweb Ltd. Sold out 0.00% −0.28
NXPI NXP Semiconductors NV Reduce -18.4% 0.58% −0.26
LB Landbridge Co. LLC-A Reduce -6.9% 0.46% −0.25
GOLD Gold.com Inc. Sold out 0.00% −0.23
BABA Alibaba Group Holding-SP ADR Reduce -12.3% 0.28% −0.23
FWRD Forward Air Corp. Reduce -66.4% 0.10% −0.22
WPM Wheaton Precious Metals Corp. Reduce -6.6% 0.81% −0.20

Portfolio Buys Q1 2025 → Q2 2025
DUK Duke Energy Corp. New 1.33% +1.33
RBC RBC Bearings Inc. New 1.19% +1.19
KR Kroger Co. New 1.07% +1.07
TDG Transdigm Group Inc. Add +403.2% 1.41% +1.06
RACE Ferrari NV New 1.02% +1.02
COR Cencora Inc. New 0.98% +0.98
ITRI Itron Inc. New 0.97% +0.97
PGR Progressive Corp. New 0.94% +0.94
APG Api Group Corp. New 0.92% +0.92
TSM Taiwan Semiconductor-SP ADR New 0.88% +0.88
BRO Brown & Brown Inc. Add +242.9% 1.57% +0.87
NVDA Nvidia Corp. New 0.82% +0.82
QXO Qxo Inc. Add +306.7% 1.02% +0.81
PRMB Primo Brands Corp. New 0.72% +0.72
MBLY Mobileye Global Inc. Class A New 0.69% +0.69
POWL Powell Industries Inc. New 0.66% +0.66
FCX Freeport-McMoran Inc. New 0.65% +0.65
WFRD Weatherford International PL New 0.63% +0.63
FSLR First Solar Inc. New 0.62% +0.62
TLN Talen Energy Corp. Add +189.8% 0.87% +0.59
SPY SS SPDR S&P 500 ETF Trust-US New 0.59% +0.59
IWM iShares Russell 2000 ETF New 0.58% +0.58
COF Capital One Financial Corp. New 0.58% +0.58
GSM Ferroglobe PLC New 0.57% +0.57
MEOH Methanex Corp. New 0.56% +0.56
GOOGL Alphabet Inc. Class A Add +203.8% 0.86% +0.53
WSO Watsco Inc. Add +181.5% 1.16% +0.52
RKLB Rocket Lab Corp. New 0.49% +0.49
NXE Nexgen Energy Ltd. New 0.48% +0.48
ALB Albemarle Corp. New 0.40% +0.40
GPRE Green Plains Inc. New 0.37% +0.37
MSFT Microsoft Corp. Add +106.2% 0.72% +0.37
LUV Southwest Airlines Co. New 0.36% +0.36
WCN Waste Connections Inc. New 0.35% +0.35
OSIS Osi Systems Inc. New 0.34% +0.34
SN Sharkninja Inc. New 0.31% +0.31
COIN Coinbase Global Inc. Class A New 0.30% +0.30
SGI Somnigroup International Inc. New 0.27% +0.27
HEI Heico Corp. Add +54.8% 0.93% +0.27
SNX TD Synnex Corp. New 0.27% +0.27
BMI Badger Meter Inc. Add +19.8% 2.11% +0.26
TTWO Take-Two Interactive Softwre New 0.25% +0.25
LINE Lineage Inc. New 0.23% +0.23
KMX Carmax Inc. New 0.22% +0.22
ALRM Alarm.com Holdings Inc. New 0.19% +0.19
LEA Lear Corp. Add +120.5% 0.34% +0.15
MUR Murphy Oil Corp. Add +119.8% 0.62% +0.14
BILL Bill Holdings Inc. New 0.14% +0.14
TWST Twist Bioscience Corp. New 0.14% +0.14
PCVX Vaxcyte Inc. New 0.14% +0.14

Options Activity Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -40.8% 187,200 $115.7M
AAL American Airlines Group Inc. put Reduce -46.3% 8,260,100 $92.7M
CAR Avis Budget Group Inc. put Reduce -12.0% 366,000 $61.9M
XOP SS SPDR S&P Og Exp & Prod put Reduce -20.0% 400,000 $50.3M
NCLH Norwegian Cruise Line Holdin put Reduce -10.0% 1,687,500 $34.2M
BHC Bausch Health Cos Inc. put Add +3.6% 5,050,000 $33.6M
GDX Vaneck Gold Miners ETF put Reduce -40.0% 600,000 $31.2M
RIVN Rivian Automotive Inc. Class A put Add +48.0% 2,160,000 $29.7M
CMCSA Comcast Corp. Class A call Add +15.4% 750,000 $26.8M
HLF Herbalife Ltd. put New 2,800,000 $24.1M
UAL United Airlines Holdings Inc. put New 267,000 $21.3M
PBF PBF Energy Inc. Class A put Add +46.1% 950,000 $20.6M
IBM Intl Business Machines Corp. call Sold out 75,000 $18.6Mbefore exit
UNH Unitedhealth Group Inc. call New 50,000 $15.6M
CCL Carnival Corp. put Sold out 600,000 $11.7Mbefore exit
KSS Kohls Corp. put Add +200.0% 1,080,000 $9.2M
TLT iShares 20+ Year Treasury BD call Sold out 100,000 $9.1Mbefore exit
HTZ Hertz Global Hldgs Inc. put Reduce -25.7% 1,155,000 $7.9M
NEM Newmont Corp. put Add +100.0% 100,000 $5.8M
F Ford Motor Co. put New 500,000 $5.4M
FSLR First Solar Inc. call New 32,200 $5.3M
HLF Herbalife Ltd. call New 402,500 $3.5M
MSTR Strategy Inc. call Reduce -19.1% 7,600 $3.1M
NFE New Fortress Energy Inc. put Add +250.0% 840,000 $2.8M
MEOH Methanex Corp. call New 80,500 $2.7M
RUN Sunrun Inc. put New 281,800 $2.3M
WHR Whirlpool Corp. put New 20,000 $2.0M
BE Bloom Energy Corp. Class A put Sold out 100,000 $2.0Mbefore exit
BYD Boyd Gaming Corp. put Sold out 25,000 $1.6Mbefore exit
MBLY Mobileye Global Inc. Class A call New 80,500 $1.4M
KOS Kosmos Energy Ltd. call New 700,000 $1.2M
PLUG Plug Power Inc. call New 805,500 $1.2M
CRWV Coreweave Inc. Class A put New 5,000 $815K
ENPH Enphase Energy Inc. put New 20,100 $797K
MUR Murphy Oil Corp. call New 32,500 $731K
CZR Caesars Entertainment Inc. put New 25,000 $710K
CLF Cleveland-Cliffs Inc. put Sold out 70,000 $575Kbefore exit
IWM iShares Russell 2000 ETF put New 2,500 $539K
HAL Halliburton Co. put Sold out 20,000 $507Kbefore exit
NVDA Nvidia Corp. put Reduce -25.0% 3,000 $474K
ALIT Alight Inc. Class A call Add +51.8% 60,700 $344K
DMRC Digimarc Corp. call Sold out 25,000 $321Kbefore exit
CCL Carnival Corp. call New 10,000 $281K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal New 14,000,000 $9.6M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 73$72.0MAAPL, NEXN, CZR, CLF, DCH
Q1 2026 192$132.6MCZR, AAPL, GOOGL, DCH, CLF
Q4 2025 146$185.9MGOOGL, VZ, TLN, AAPL, CZR
Q3 2025 332$374.8MSLN, RSG, VZ, GOOGL, RBC
Q2 2025 282$322.5MRSG, NEXN, SLN, BMI, VZ
Q1 2025 129$239.1MNEXN, NEM, WM, RSG, ORLY
Q4 2024 208$229.3MXLE, SLN, GDX, VZ, EXPE
Q3 2024 180$231.3MSLN, OPCH, VZ, GDX, AGO
Q2 2024 170$227.3MSLN, Z, AD, OPCH, VZ
Q1 2024 218$676.7MSPY, TLT, SLN, Z, AAPL