Lombard Odier Asset Management (USA) Corp

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Lombard Odier Asset Management (USA) Corp reported 332 stock positions worth $374.8 million. Its top holding was Silence Therapeutics PLC-ADR (SLN) at 1.9% of the portfolio, followed by Republic Services (RSG, 1.9%) and Verizon Communications (VZ, 1.3%). Compared with Q2 2025, it opened 115 new positions, sold out of 65, added to 146 and reduced 64. The biggest buy was a new position in iShares Silver Trust (SLV) and the biggest sale Nexxen International (NEXN, shares −60%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001491719
Portfolio Value
$374.8M (Q3 2025)
SEC Filing
0000908834-25-000342 ↗ filed Nov 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 Q2 2025 Q3 2025: $374.8M $374.8M Q3 2025 Q4 2025: $185.9M Q4 2025 Q1 2026: $132.6M Q1 2026 Q2 2026: $72.0M Q2 2026

Holdings 332 stocks · $374.8M
SLN Silence Therapeutics PLC-ADR 1.90% 1,844,948 $7.1M Reduce -0.3%
RSG Republic Services Inc. 1.86% 30,441 $7.0M Reduce -10.2%
VZ Verizon Communications Inc. 1.34% 114,000 $5.0M Reduce -5.9%
GOOGL Alphabet Inc. Class A 1.27% 19,576 $4.8M Add +23.9%
RBC RBC Bearings Inc. 1.25% 12,037 $4.7M Add +20.8%
TDG Transdigm Group Inc. 1.22% 3,477 $4.6M Add +16.5%
INTC Intel Corp. 1.21% 135,503 $4.5M Add +40.2%
APG Api Group Corp. 1.15% 124,972 $4.3M Add +43.5%
NVDA Nvidia Corp. 1.11% 22,254 $4.2M Add +33.3%
LAUR Laureate Education Inc. 1.10% 130,795 $4.1M Reduce -7.7%
AGO Assured Guaranty Ltd. 1.07% 47,480 $4.0M Add +18.3%
CZR Caesars Entertainment Inc. 1.06% 147,284 $4.0M Add +3.5%
SLV iShares Silver Trust 1.02% 90,000 $3.8M New
BKR Baker Hughes Co. 0.99% 76,500 $3.7M Add +1.8%
COR Cencora Inc. 0.98% 11,808 $3.7M Add +12.1%
RACE Ferrari NV 0.97% 7,488 $3.6M Add +12.1%
SNDK Sandisk Corp. 0.94% 31,334 $3.5M Reduce -13.6%
ITRI Itron Inc. 0.93% 28,083 $3.5M Add +18.4%
ORLY O'reilly Automotive Inc. 0.93% 32,307 $3.5M Reduce -10.9%
TSM Taiwan Semiconductor-SP ADR 0.91% 12,222 $3.4M Reduce -2.0%
CHRW C.H. Robinson Worldwide Inc. 0.87% 24,554 $3.3M Add +69.9%
TMHC Taylor Morrison Home Corp. 0.87% 49,161 $3.2M Add +6.7%
BLDR Builders Firstsource Inc. 0.85% 26,278 $3.2M Add +140.6%
DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN 0.83% 515,000 $3.1M Reduce -26.4%
QXO Qxo Inc. 0.82% 161,837 $3.1M Add +6.2%
LPX Louisiana-Pacific Corp. 0.81% 34,290 $3.0M Add +302.2%
MSI Motorola Solutions Inc. 0.80% 6,582 $3.0M Add +13.3%
GLW Corning Inc. 0.80% 36,607 $3.0M New
HWM Howmet Aerospace Inc. 0.79% 15,006 $2.9M Reduce -6.8%
NEXN Nexxen International Ltd. 0.79% 427,746 $2.9M Reduce -59.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.78% 4,383 $2.9M Add +43.4%
MCK McKesson Corp. 0.77% 3,751 $2.9M Add +21.9%
RTX RTX Corp. 0.77% 17,174 $2.9M Add +74.7%
AER Aercap Holdings NV 0.77% 23,717 $2.9M Add +50.9%
AZO AutoZone Inc. 0.74% 648 $2.8M Reduce -24.0%
REVG Rev Group Inc. 0.73% 48,325 $2.7M Add +1.5%
BSX Boston Scientific Corp. 0.72% 27,824 $2.7M New
MSFT Microsoft Corp. 0.72% 5,235 $2.7M Add +11.9%
MRVL Marvell Technology Inc. 0.72% 32,032 $2.7M Add +60.5%
IWM iShares Russell 2000 ETF 0.71% 10,967 $2.7M Add +26.6%
XOP SS SPDR S&P Og Exp & Prod 0.71% 20,000 $2.6M Reduce -31.0%
APTV Aptiv PLC 0.69% 29,900 $2.6M Reduce -34.6%
NBR Nabors Industries Ltd. 0.68% 62,000 $2.5M Reduce -31.9%
ORA Ormat Technologies Inc. 0.67% 26,010 $2.5M New
CLF Cleveland-Cliffs Inc. 0.67% 205,000 $2.5M Reduce -40.6%
UNH Unitedhealth Group Inc. 0.66% 7,134 $2.5M New
LUV Southwest Airlines Co. 0.64% 74,854 $2.4M Add +107.3%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.64% 7,688 $2.4M Reduce -19.6%
TAC Transalta Corp. 0.62% 171,000 $2.3M New
CLMT Calumet Inc. 0.62% 127,500 $2.3M New
PHM Pultegroup Inc. 0.62% 17,480 $2.3M Add +74.8%
GM General Motors Co. 0.61% 37,385 $2.3M New
BRO Brown & Brown Inc. 0.61% 24,231 $2.3M Reduce -46.8%
UEC Uranium Energy Corp. 0.60% 169,550 $2.3M New
CENX Century Aluminum Company 0.60% 76,500 $2.2M Add +26.6%
PGR Progressive Corp. 0.59% 9,029 $2.2M Reduce -20.8%
XPO Xpo Inc. 0.59% 17,133 $2.2M Add +81.7%
MHK Mohawk Industries Inc. 0.59% 17,011 $2.2M Add +23.6%
PRGO Perrigo Co. PLC 0.58% 98,106 $2.2M Add +25.7%
FSLR First Solar Inc. 0.57% 9,754 $2.2M Reduce -19.3%
CCJ Cameco Corp. 0.57% 25,500 $2.1M Add +26.6%
EXE Expand Energy Corp. 0.57% 19,959 $2.1M Add +73.2%
BIDU Baidu Inc. - Spon ADR 0.57% 16,077 $2.1M New
BE Bloom Energy Corp. Class A 0.56% 25,000 $2.1M New
BMI Badger Meter Inc. 0.55% 11,475 $2.0M Reduce -58.7%
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 0.55% 53,280 $2.0M Add +14.5%
COF Capital One Financial Corp. 0.54% 9,536 $2.0M Add +8.9%
WPM Wheaton Precious Metals Corp. 0.54% 18,063 $2.0M Reduce -37.7%
MUR Murphy Oil Corp. 0.54% 71,000 $2.0M Reduce -20.2%
OSIS Osi Systems Inc. 0.54% 8,077 $2.0M Add +65.1%
FCX Freeport-McMoran Inc. 0.53% 51,000 $2.0M Add +5.5%
FLUT Flutter Entertainment PLC-Di 0.53% 7,847 $2.0M Add +8.6%
NXE Nexgen Energy Ltd. 0.52% 216,750 $1.9M Reduce -2.1%
TLN Talen Energy Corp. 0.51% 4,526 $1.9M Reduce -53.3%
PSN Parsons Corp. 0.51% 23,162 $1.9M New
CRS Carpenter Technology 0.51% 7,715 $1.9M Add +27.8%
DAR Darling Ingredients Inc. 0.49% 59,500 $1.8M Reduce -8.8%
SNPS Synopsys Inc. 0.49% 3,702 $1.8M New
OPCH Option Care Health Inc. 0.48% 65,437 $1.8M Add +28.8%
CRC California Resources Corp. 0.48% 34,000 $1.8M New
PPTA Perpetua Resources Corp. 0.48% 89,250 $1.8M New
PRM Perimeter Solutions Inc. 0.48% 80,005 $1.8M Add +72.8%
PRMB Primo Brands Corp. 0.47% 79,410 $1.8M Add +1.5%
TRI Thomson Reuters Corp. 0.46% 11,102 $1.7M Reduce -39.9%
MEOH Methanex Corp. 0.45% 42,500 $1.7M Reduce -21.8%
TSLA Tesla Inc. 0.45% 3,791 $1.7M New
POWL Powell Industries Inc. 0.44% 5,452 $1.7M Reduce -45.9%
ACA Arcosa Inc. 0.42% 17,000 $1.6M New
WFRD Weatherford International PL 0.42% 23,000 $1.6M Reduce -42.7%
NXT Nextpower Inc. filed as NEXTRACKER INC 0.39% 19,716 $1.5M New
CNNE Cannae Holdings Inc. 0.38% 76,956 $1.4M Add +14.5%
HAL Halliburton Co. 0.37% 56,877 $1.4M Reduce -6.1%
CCL Carnival Corp. 0.37% 47,852 $1.4M Add +18.9%
DRVN Driven Brands Holdings Inc. 0.37% 85,829 $1.4M Add +14.9%
BABA Alibaba Group Holding-SP ADR 0.36% 7,605 $1.4M Reduce -5.8%
GFF Griffon Corp. 0.36% 17,571 $1.3M Add +60.0%
SIMO Silicon Motion Technol-ADR 0.35% 13,965 $1.3M Reduce -51.8%
ANET Arista Networks Inc. 0.35% 9,074 $1.3M New
WTTR Select Water Solutions Inc. 0.34% 118,433 $1.3M Add +70.5%
AMZN Amazon.com Inc. 0.34% 5,742 $1.3M Add +26.9%
SHW The Sherwin-Williams Co. 0.34% 3,632 $1.3M Add +72.2%
ALK Alaska Air Group Inc. 0.33% 25,060 $1.2M New
XYL Xylem Inc. 0.33% 8,370 $1.2M New
LEA Lear Corp. 0.33% 12,132 $1.2M Add +5.0%
GT Goodyear Tire & Rubber Co. 0.32% 159,000 $1.2M Add +39.5%
NATL NCR Atleos Corp. 0.31% 29,782 $1.2M New
DECK Deckers Outdoor Corp. 0.30% 11,265 $1.1M New
GIS General Mills Inc. 0.30% 22,347 $1.1M Add +235.4%
HEI Heico Corp. 0.30% 3,443 $1.1M Reduce -62.5%
MGM MGM Resorts International 0.30% 32,000 $1.1M No change
RUN Sunrun Inc. 0.29% 63,750 $1.1M New
ALIT Alight Inc. Class A 0.29% 337,723 $1.1M Add +15.5%
SGI Somnigroup International Inc. 0.29% 13,010 $1.1M No change
SNX TD Synnex Corp. 0.29% 6,685 $1.1M Add +5.0%
GD General Dynamics Corp. 0.29% 3,206 $1.1M New
SN Sharkninja Inc. 0.29% 10,466 $1.1M Add +4.5%
CASY Casey's General Stores Inc. 0.29% 1,904 $1.1M New
M Macy's Inc. 0.29% 60,000 $1.1M No change
UBER Uber Technologies Inc. 0.29% 10,932 $1.1M No change
FND Floor & Decor Holdings Inc. Class A 0.28% 14,314 $1.1M Add +73.6%
PFGC Performance Food Group Co. 0.28% 10,131 $1.1M No change
WCN Waste Connections Inc. 0.28% 5,993 $1.1M No change
STX Seagate Technology Holdings 0.25% 3,999 $944K New
RKLB Rocket Lab Corp. 0.24% 19,125 $916K Reduce -56.8%
FWRD Forward Air Corp. 0.24% 35,640 $914K Add +185.1%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.24% 26,000 $894K Reduce -2.6%
AEO American Eagle Outfitters 0.24% 51,724 $885K Add +18.8%
GPRE Green Plains Inc. 0.23% 97,538 $857K Reduce -51.0%
JHX James Hardie Ind PLC 0.20% 40,000 $768K New
CSX CSX Corp. 0.20% 20,981 $745K New
PCT Purecycle Technologies Inc. 0.20% 55,596 $731K Reduce -56.2%
DBRG Digitalbridge Group Inc. 0.19% 60,230 $705K Add +9.2%
FDX FedEx Corp. 0.18% 2,865 $676K Add +73.2%
DHI D.R. Horton Inc. 0.17% 3,664 $621K Add +8.6%
UAL United Airlines Holdings Inc. 0.16% 6,380 $616K Reduce -9.6%
APD Air Products & Chemicals Inc. 0.16% 2,152 $587K Reduce -55.0%
PATH Uipath Inc. Class A 0.15% 42,934 $574K New
DAL Delta Air Lines Inc. 0.15% 10,059 $571K Reduce -4.5%
PCVX Vaxcyte Inc. 0.15% 15,427 $556K Add +14.7%
RVTY Revvity Inc. 0.15% 6,236 $547K Add +116.2%
SCCO Southern Copper Corp. 0.15% 4,481 $544K Add +8.5%
LINE Lineage Inc. 0.14% 13,922 $538K Reduce -16.8%
MATX Matson Inc. 0.14% 5,402 $533K Reduce -32.6%
WSO Watsco Inc. 0.14% 1,317 $532K Reduce -84.5%
DCI Donaldson Co. Inc. 0.14% 6,470 $530K Add +5.3%
SNA Snap-on Inc. 0.14% 1,526 $529K Add +51.4%
TPH Tri Pointe Homes Inc. 0.14% 15,542 $528K Add +15.1%
EMN Eastman Chemical Co. 0.14% 8,359 $527K Add +47.6%
HOLX Hologic Inc. 0.14% 7,800 $526K Add +51.0%
EXP Eagle Materials Inc. 0.14% 2,257 $526K Add +7.1%
AFG American Financial Group Inc. 0.14% 3,609 $526K Add +7.5%
WTS Watts Water Technologies-A 0.14% 1,883 $526K Add +15.1%
ZBH Zimmer Biomet Holdings Inc. 0.14% 5,336 $526K New
RHI Robert Half Inc. 0.14% 15,409 $524K Add +61.4%
H Hyatt Hotels Corp. Class A 0.14% 3,689 $524K Add +53.3%
PKG Packaging Corp. of America 0.14% 2,402 $523K Add +90.9%
STLD Steel Dynamics Inc. 0.14% 3,754 $523K Add +24.5%
AIT Applied Industrial Tech Inc. 0.14% 2,005 $523K Add +11.1%
MLI Mueller Industries Inc. 0.14% 5,170 $523K Add +13.9%
AKAM Akamai Technologies Inc. 0.14% 6,893 $522K Add +118.3%
CMI Cummins Inc. 0.14% 1,236 $522K New
COLM Columbia Sportswear Co. 0.14% 9,959 $521K Add +42.4%
CSL Carlisle Cos Inc. 0.14% 1,581 $520K Add +59.9%
WRBY Warby Parker Inc. Class A 0.14% 18,818 $519K Add +9.1%
PNC PNC Financial Services Group 0.14% 2,578 $518K Add +14.7%
MTG Mgic Investment Corp. 0.14% 18,221 $517K Add +18.4%
DDS Dillards Inc. Class A 0.14% 840 $516K Reduce -18.0%
APO Apollo Global Management Inc. 0.14% 3,864 $515K Reduce -27.3%
EEFT Euronet Worldwide Inc. 0.14% 5,860 $515K Add +44.0%
ESNT Essent Group Ltd. 0.14% 8,094 $514K New
WH Wyndham Hotels & Resorts Inc. 0.14% 6,435 $514K Add +22.0%
FTI Technipfmc PLC 0.14% 12,985 $512K Add +12.0%
THO Thor Industries Inc. 0.14% 4,930 $511K Add +2.5%
WU Western Union Co. 0.14% 63,963 $511K Add +40.0%
BX Blackstone Inc. 0.14% 2,990 $511K Add +3.4%
GLBE Global-E Online Ltd. 0.14% 14,268 $510K Add +123.9%
DHT DHT Holdings Inc. 0.14% 42,585 $509K Add +21.0%
ICUI Icu Medical Inc. 0.14% 4,239 $509K Add +77.2%
NTAP Netapp Inc. 0.14% 4,287 $508K Add +71.3%
FSS Federal Signal Corp. 0.14% 4,260 $507K Add +4.0%
GKOS Glaukos Corp. 0.14% 6,213 $507K Add +84.3%
CAVA Cava Group Inc. 0.14% 8,373 $506K Add +100.9%
SCI Service Corp. International 0.13% 6,075 $506K Add +23.8%
BW Babcock & Wilcox Enterpr 0.13% 174,250 $505K New
BC Brunswick Corp. 0.13% 7,982 $505K New
COP Conocophillips 0.13% 5,323 $504K Add +42.3%
PAYC Paycom Software Inc. 0.13% 2,410 $502K Add +125.7%
EOG EOG Resources Inc. 0.13% 4,469 $501K Add +35.8%
TXT Textron Inc. 0.13% 5,929 $501K Add +15.2%
WSM Williams-Sonoma Inc. 0.13% 2,542 $497K Add +50.0%
RVLV Revolve Group Inc. Class A 0.13% 23,270 $496K Add +15.6%
RIVN Rivian Automotive Inc. Class A 0.13% 33,625 $494K Add +10.3%
TWST Twist Bioscience Corp. 0.13% 17,494 $492K Add +45.6%
BLK BlackRock Inc. 0.13% 420 $490K Add +97.2%
PNR Pentair PLC 0.13% 4,372 $484K Add +23.7%
BYD Boyd Gaming Corp. 0.13% 5,597 $484K New
MSCI MSCI Inc. 0.13% 836 $474K New
WFC Wells Fargo & Co. 0.13% 5,659 $474K Add +79.4%
TSN Tyson Foods Inc. Class A 0.13% 8,708 $473K New
ITW Illinois Tool Works 0.13% 1,802 $470K Add +101.1%
OMCL Omnicell Inc. 0.13% 15,388 $469K Add +15.2%
ALLY Ally Financial Inc. 0.12% 11,930 $468K Add +19.5%
QLYS Qualys Inc. 0.12% 3,524 $466K Add +34.6%
BILL Bill Holdings Inc. 0.12% 8,771 $465K Reduce -8.9%
HUN Huntsman Corp. 0.12% 51,684 $464K Add +26.4%
AYI Acuity Inc. 0.12% 1,345 $463K Reduce -5.5%
BA The Boeing Co. 0.12% 2,146 $463K Add +69.9%
RRC Range Resources Corp. 0.12% 12,288 $463K New
KMI Kinder Morgan Inc. 0.12% 16,295 $461K New
DBX Dropbox Inc. Class A 0.12% 15,109 $456K Add +78.3%
RPM RPM International Inc. 0.12% 3,853 $454K New
ABNB Airbnb Inc. Class A 0.12% 3,740 $454K Add +66.0%
WIX Wix.com Ltd. 0.12% 2,556 $454K New
GNW Genworth Financial Inc. 0.12% 50,701 $451K Add +72.6%
AMD Advanced Micro Devices 0.12% 2,769 $448K Add +63.9%
PJT PJT Partners Inc. Class A 0.12% 2,446 $435K Add +14.1%
V Visa Inc. Class A 0.11% 1,261 $430K New
EXLS Exlservice Holdings Inc. 0.11% 9,767 $430K Add +88.0%
IBP Installed Building Products 0.11% 1,734 $428K Reduce -25.6%
VLO Valero Energy Corp. 0.11% 2,509 $427K Reduce -14.7%
A Agilent Technologies Inc. 0.11% 3,306 $424K Add +45.6%
ARCB Arcbest Corp. 0.11% 6,064 $424K New
REGN Regeneron Pharmaceuticals 0.11% 746 $419K Add +25.6%
GNRC Generac Holdings Inc. 0.11% 2,498 $418K Reduce -17.6%
RKT Rocket Cos Inc. Class A 0.11% 21,500 $417K New
KO The Coca-Cola Co. 0.11% 6,226 $413K New
NSP Insperity Inc. 0.11% 8,377 $412K Add +25.7%
QRVO Qorvo Inc. 0.11% 4,523 $412K Reduce -3.2%
AMBA Ambarella Inc. 0.11% 4,950 $408K Reduce -23.1%
WST West Pharmaceutical Services 0.11% 1,557 $408K Add +3.5%
ODFL Old Dominion Freight Line 0.11% 2,895 $408K New
IT Gartner Inc. 0.11% 1,549 $407K New
GTM Zoominfo Technologies Inc. 0.11% 37,258 $406K No change
CCC CCC Intelligent Solutions Ho 0.11% 44,452 $405K New
POST Post Holdings Inc. filed as POST HLDGS INC 0.11% 3,765 $405K Add +37.9%
AWI Armstrong World Industries 0.11% 2,064 $405K Add +4.3%
ZM Zoom Communications Inc. 0.11% 4,780 $394K New
STKL Sunopta Inc. 0.10% 66,820 $392K Add +14.5%
DOV Dover Corp. 0.10% 2,337 $390K New
UHS Universal Health Services-B 0.10% 1,904 $389K Add +26.0%
CAKE The Cheesecake Factory Inc. 0.10% 7,036 $384K New
CROX Crocs Inc. 0.10% 4,595 $384K New
FIG Figma Inc. Class A 0.10% 7,400 $384K New
ESAB Esab Corp. 0.10% 3,422 $382K Reduce -1.2%
TMO Thermo Fisher Scientific Inc. 0.10% 786 $381K New
ANF Abercrombie & Fitch Co. Class A 0.10% 4,439 $380K New
MRSH Marsh & McLennan Cos 0.10% 1,883 $379K New
CL Colgate-Palmolive Co. 0.10% 4,562 $365K New
IOT Samsara Inc. Class A 0.10% 9,745 $363K New
GTES Gates Industrial Corp. UK Ltd. 0.10% 14,601 $362K Add +42.0%
FBP First Bancorp Puerto Rico 0.10% 16,424 $362K Add +11.7%
CVNA Carvana Co. 0.10% 955 $360K Add +38.8%
PEN Penumbra Inc. 0.10% 1,422 $360K New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.10% 2,468 $357K New
CSW CSW Industrials Inc. 0.10% 1,468 $356K New
TT Trane Technologies PLC 0.09% 841 $355K New
RMD Resmed Inc. 0.09% 1,271 $348K Add +30.5%
LIN Linde PLC 0.09% 732 $348K Add +53.5%
MMSI Merit Medical Systems Inc. 0.09% 4,158 $346K Add +33.3%
TEL Te Connectivity PLC 0.09% 1,569 $344K Add +25.6%
MUSA Murphy USA Inc. 0.09% 884 $343K New
EME Emcor Group Inc. 0.09% 523 $340K Add +33.4%
VEEV Veeva Systems Inc. Class A 0.09% 1,115 $332K New
MRCY Mercury Systems Inc. 0.09% 4,206 $326K Reduce -44.7%
ADBE Adobe Inc. 0.09% 913 $322K New
AMP Ameriprise Financial Inc. 0.08% 647 $318K New
ALGN Align Technology Inc. 0.08% 2,537 $318K Add +10.8%
YOU Clear Secure Inc. Class A 0.08% 9,493 $317K Reduce -10.1%
WMB Williams Cos Inc. 0.08% 4,949 $314K Add +40.3%
ALRM Alarm.com Holdings Inc. 0.08% 5,902 $313K Reduce -45.7%
MTD Mettler-Toledo International 0.08% 253 $311K New
VRNS Varonis Systems Inc. 0.08% 5,398 $310K Reduce -3.9%
IEX Idex Corp. 0.08% 1,883 $306K New
DKS Dick's Sporting Goods Inc. 0.08% 1,373 $305K New
DDOG Datadog Inc. Class A 0.08% 2,138 $304K Add +15.4%
OKTA Okta Inc. 0.08% 3,304 $303K New
CYH Community Health Systems Inc. 0.08% 94,000 $302K Reduce -20.3%
DOCS Doximity Inc. Class A 0.08% 4,122 $302K Add +18.4%
UTHR United Therapeutics Corp. 0.08% 717 $301K New
OTIS Otis Worldwide Corp. 0.08% 3,240 $296K Add +30.9%
IDXX Idexx Laboratories Inc. 0.08% 463 $296K New
AUR Aurora Innovation Inc. 0.08% 54,844 $296K New
MNDY Monday.com Ltd. 0.08% 1,502 $291K New
GPOR Gulfport Energy Corp. 0.08% 1,607 $291K New
DLB Dolby Laboratories Inc. Class A 0.08% 4,011 $290K Add +17.0%
AXSM Axsome Therapeutics Inc. 0.08% 2,379 $289K Reduce -1.1%
FRSH Freshworks Inc. Class A 0.08% 24,410 $287K Add +47.8%
MBLY Mobileye Global Inc. Class A 0.08% 20,103 $284K Reduce -83.8%
ADI Analog Devices Inc. 0.08% 1,154 $284K New
HNGE Hinge Health Inc. Class A 0.07% 5,731 $281K New
CNC Centene Corp. 0.07% 7,883 $281K Reduce -0.5%
KFY Korn Ferry 0.07% 3,992 $279K Add +27.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.07% 2,541 $277K New
PAYX Paychex Inc. 0.07% 2,165 $274K New
ISRG Intuitive Surgical Inc. 0.07% 610 $273K New
PEP Pepsico Inc. 0.07% 1,940 $272K New
DASH DoorDash Inc. Class A 0.07% 1,001 $272K New
CRM Salesforce Inc. 0.07% 1,142 $271K New
LOW Lowe's Cos Inc. 0.07% 1,075 $270K New
CHWY Chewy Inc. Class A 0.07% 6,667 $270K New
MA Mastercard Inc. Class A 0.07% 474 $270K New
CW Curtiss-Wright Corp. 0.07% 493 $268K New
LOPE Grand Canyon Education Inc. 0.07% 1,179 $259K New
BOX Box Inc. Class A 0.07% 7,978 $257K New
VRTX Vertex Pharmaceuticals Inc. 0.07% 651 $255K New
BCPC Balchem Corp. 0.07% 1,693 $254K New
DTM DT Midstream Inc. 0.07% 2,233 $252K New
FTNT Fortinet Inc. 0.07% 2,956 $249K New
R Ryder System Inc. 0.07% 1,308 $247K New
COTY Coty Inc. Class A 0.07% 60,762 $245K New
DRI Darden Restaurants Inc. 0.06% 1,269 $242K New
EW Edwards Lifesciences Corp. 0.06% 3,105 $241K New
BMBL Bumble Inc. Class A 0.06% 39,649 $241K New
STE Steris PLC 0.06% 967 $239K New
MEDP Medpace Holdings Inc. 0.06% 463 $238K Reduce -52.8%
AN Autonation Inc. 0.06% 1,082 $237K Reduce -16.4%
ZWS Zurn Elkay Water Solutions C 0.06% 5,020 $236K New
PHIN Phinia Inc. 0.06% 4,101 $236K New
ECL Ecolab Inc. 0.06% 844 $231K New
TTWO Take-Two Interactive Softwre 0.06% 882 $228K Reduce -73.0%
FLEX Flex Ltd. 0.06% 3,836 $222K New
URBN Urban Outfitters Inc. 0.06% 3,088 $221K New
PRKS United Parks & Resorts Inc. 0.06% 4,241 $219K New
ALL Allstate Corp. 0.06% 1,016 $218K New
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC 0.06% 1,364 $211K New
SSNC Ss&c Technologies Holdings 0.06% 2,354 $209K New
PG The Procter & Gamble Co. 0.05% 1,329 $204K New
CTRA Coterra Energy Inc. 0.05% 8,479 $201K New
KWEB Kranesh Csi China Internet 0.05% 4,762 $200K New
XRX Xerox Holdings Corp. 0.05% 45,900 $173K New
HAYW Hayward Holdings Inc. 0.04% 10,766 $163K New
TMC TMC the Metals Co. Inc. 0.04% 21,354 $136K New

Options reported separately and not counted above: SPY puts ($283.7M), AAL puts ($64.7M), CAR puts ($55.4M), XOP puts ($52.9M), GDX puts ($45.8M), TLT puts ($37.3M), SPY calls ($33.3M), RIVN puts ($32.3M), PBF puts ($28.7M), CMCSA calls ($23.6M), PFE calls ($22.9M), MRK calls ($21.8M), and 66 more.

Other holdings (5): bonds, preferreds, convertibles and warrants · $67.3M (not counted above)
SecurityClassShares / PrincipalValueChange
STRATEGY INC (MSTR 0.875 03/15/31) NOTE 0.875% 3/1 · principal 14,000,000$22.1MReduce -30.0%
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 15,000,000$15.6MNo change
NCL CORPORATION LTD (NCLH 1.125 02/15/27) NOTE 1.125% 2/1 · principal 14,500,000$14.9MNo change
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 14,000,000$9.0MNo change
UNITI GROUP INC (UNIT 7.5 12/01/27) NOTE 7.500%12/0 · principal 5,255,000$5.7MNew

Total filed on the 13F, all lines: $442.1M.

Portfolio Sells Q2 2025 → Q3 2025
NEXN Nexxen International Ltd. Reduce -59.9% 0.79% −1.72
BMI Badger Meter Inc. Reduce -58.7% 0.55% −1.56
DUK Duke Energy Corp. Sold out 0.00% −1.33
KR Kroger Co. Sold out 0.00% −1.07
WSO Watsco Inc. Reduce -84.5% 0.14% −1.02
BRO Brown & Brown Inc. Reduce -46.8% 0.61% −0.96
NEM Newmont Corp. Sold out 0.00% −0.90
RSG Republic Services Inc. Reduce -10.2% 1.86% −0.73
TRI Thomson Reuters Corp. Reduce -39.9% 0.46% −0.69
HEI Heico Corp. Reduce -62.5% 0.30% −0.64
MBLY Mobileye Global Inc. Class A Reduce -83.8% 0.08% −0.62
KEX Kirby Corp. Sold out 0.00% −0.59
NXPI NXP Semiconductors NV Sold out 0.00% −0.58
VST Vistra Corp. Sold out 0.00% −0.58
GSM Ferroglobe PLC Sold out 0.00% −0.57
COHR Coherent Corp. Sold out 0.00% −0.56
SLN Silence Therapeutics PLC-ADR Reduce -0.3% 1.90% −0.52
GLNG Golar LNG Ltd. Sold out 0.00% −0.51
LB Landbridge Co. LLC-A Sold out 0.00% −0.46
DLTR Dollar Tree Inc. Sold out 0.00% −0.44
XOP SS SPDR S&P Og Exp & Prod Reduce -31.0% 0.71% −0.43
ALB Albemarle Corp. Sold out 0.00% −0.40
TECK Teck Resources Ltd.-CLS B Sold out 0.00% −0.38
TLN Talen Energy Corp. Reduce -53.3% 0.51% −0.36
PGR Progressive Corp. Reduce -20.8% 0.59% −0.35
PCT Purecycle Technologies Inc. Reduce -56.2% 0.20% −0.34
SIMO Silicon Motion Technol-ADR Reduce -51.8% 0.35% −0.32
AJG Arthur J Gallagher & Co. Reduce -19.6% 0.64% −0.31
COIN Coinbase Global Inc. Class A Sold out 0.00% −0.30
VZ Verizon Communications Inc. Reduce -5.9% 1.34% −0.29
APTV Aptiv PLC Reduce -34.6% 0.69% −0.28
DAR Darling Ingredients Inc. Reduce -8.8% 0.49% −0.28
GDX Vaneck Gold Miners ETF Sold out 0.00% −0.27
WPM Wheaton Precious Metals Corp. Reduce -37.7% 0.54% −0.27
APD Air Products & Chemicals Inc. Reduce -55.0% 0.16% −0.26
RKLB Rocket Lab Corp. Reduce -56.8% 0.24% −0.25
AZO AutoZone Inc. Reduce -24.0% 0.74% −0.24
KMX Carmax Inc. Sold out 0.00% −0.22
POWL Powell Industries Inc. Reduce -45.9% 0.44% −0.21
WFRD Weatherford International PL Reduce -42.7% 0.42% −0.21
NSC Norfolk Southern Corp. Sold out 0.00% −0.20
TTWO Take-Two Interactive Softwre Reduce -73.0% 0.06% −0.19
CLF Cleveland-Cliffs Inc. Reduce -40.6% 0.67% −0.15
HWM Howmet Aerospace Inc. Reduce -6.8% 0.79% −0.14
GPRE Green Plains Inc. Reduce -51.0% 0.23% −0.14
RAMP Liveramp Holdings Inc. Sold out 0.00% −0.14
OMC Omnicom Group Sold out 0.00% −0.13
MATX Matson Inc. Reduce -32.6% 0.14% −0.13
MAN Manpowergroup Inc. Sold out 0.00% −0.13
TOL Toll Brothers Inc. Sold out 0.00% −0.13

Portfolio Buys Q2 2025 → Q3 2025
SLV iShares Silver Trust New 1.02% +1.02
GLW Corning Inc. New 0.80% +0.80
BSX Boston Scientific Corp. New 0.72% +0.72
ORA Ormat Technologies Inc. New 0.67% +0.67
UNH Unitedhealth Group Inc. New 0.66% +0.66
TAC Transalta Corp. New 0.62% +0.62
CLMT Calumet Inc. New 0.62% +0.62
GM General Motors Co. New 0.61% +0.61
UEC Uranium Energy Corp. New 0.60% +0.60
LPX Louisiana-Pacific Corp. Add +302.2% 0.81% +0.59
BIDU Baidu Inc. - Spon ADR New 0.57% +0.57
BE Bloom Energy Corp. Class A New 0.56% +0.56
INTC Intel Corp. Add +40.2% 1.21% +0.54
PSN Parsons Corp. New 0.51% +0.51
SNPS Synopsys Inc. New 0.49% +0.49
CRC California Resources Corp. New 0.48% +0.48
PPTA Perpetua Resources Corp. New 0.48% +0.48
BLDR Builders Firstsource Inc. Add +140.6% 0.85% +0.45
TSLA Tesla Inc. New 0.45% +0.45
CHRW C.H. Robinson Worldwide Inc. Add +69.9% 0.87% +0.44
ACA Arcosa Inc. New 0.42% +0.42
GOOGL Alphabet Inc. Class A Add +23.9% 1.27% +0.41
NXT Nextpower Inc. New 0.39% +0.39
ANET Arista Networks Inc. New 0.35% +0.35
ALK Alaska Air Group Inc. New 0.33% +0.33
XYL Xylem Inc. New 0.33% +0.33
RTX RTX Corp. Add +74.7% 0.77% +0.32
NATL NCR Atleos Corp. New 0.31% +0.31
DECK Deckers Outdoor Corp. New 0.30% +0.30
RUN Sunrun Inc. New 0.29% +0.29
GD General Dynamics Corp. New 0.29% +0.29
NVDA Nvidia Corp. Add +33.3% 1.11% +0.29
PHM Pultegroup Inc. Add +74.8% 0.62% +0.29
CASY Casey's General Stores Inc. New 0.29% +0.29
PRM Perimeter Solutions Inc. Add +72.8% 0.48% +0.28
LUV Southwest Airlines Co. Add +107.3% 0.64% +0.27
CENX Century Aluminum Company Add +26.6% 0.60% +0.26
STX Seagate Technology Holdings New 0.25% +0.25
MRVL Marvell Technology Inc. Add +60.5% 0.72% +0.24
APG Api Group Corp. Add +43.5% 1.15% +0.23
XPO Xpo Inc. Add +81.7% 0.59% +0.22
JHX James Hardie Ind PLC New 0.20% +0.20
CSX CSX Corp. New 0.20% +0.20
OSIS Osi Systems Inc. Add +65.1% 0.54% +0.20
AER Aercap Holdings NV Add +50.9% 0.77% +0.20
GIS General Mills Inc. Add +235.4% 0.30% +0.19
SPY SS SPDR S&P 500 ETF Trust-US Add +43.4% 0.78% +0.19
PATH Uipath Inc. Class A New 0.15% +0.15
WTTR Select Water Solutions Inc. Add +70.5% 0.34% +0.15
FWRD Forward Air Corp. Add +185.1% 0.24% +0.15

Options Activity Q2 2025 → Q3 2025
SPY SS SPDR S&P 500 ETF Trust-US put Add +127.5% 425,900 $283.7M
AAL American Airlines Group Inc. put Reduce -30.3% 5,760,100 $64.7M
CAR Avis Budget Group Inc. put Reduce -5.7% 345,000 $55.4M
TLT iShares 20+ Year Treasury BD put Reduce -17.4% 417,000 $37.3M
NCLH Norwegian Cruise Line Holdin put Sold out 1,687,500 $34.2Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US call New 50,000 $33.3M
RIVN Rivian Automotive Inc. Class A put Add +1.9% 2,200,000 $32.3M
HLF Herbalife Ltd. put Sold out 2,800,000 $24.1Mbefore exit
MRK Merck & Co. Inc. call Add +33.3% 260,000 $21.8M
UAL United Airlines Holdings Inc. put Sold out 267,000 $21.3Mbefore exit
QQQ Invesco QQQ Trust Series 1 put New 30,000 $18.0M
IWM iShares Russell 2000 ETF put Add +2300.0% 60,000 $14.5M
KSS Kohls Corp. put Reduce -13.9% 930,000 $14.3M
NEM Newmont Corp. put Add +50.0% 150,000 $12.6M
BHC Bausch Health Cos Inc. put Reduce -66.0% 1,716,000 $11.1M
BAC Bank of America Corp. put New 200,000 $10.3M
NCLH Norwegian Cruise Line Holdin call Reduce -50.0% 400,000 $9.9M
CSCO Cisco Systems Inc. call Reduce -33.3% 100,000 $6.8M
FSLR First Solar Inc. call Sold out 32,200 $5.3Mbefore exit
RIVN Rivian Automotive Inc. Class A call Reduce -14.3% 300,000 $4.4M
DAL Delta Air Lines Inc. call Reduce -30.0% 70,000 $4.0M
INTC Intel Corp. call New 100,000 $3.4M
TLT iShares 20+ Year Treasury BD call New 30,000 $2.7M
MEOH Methanex Corp. call Sold out 80,500 $2.7Mbefore exit
MPT Medical Properties Trust Inc. put New 500,000 $2.5M
ACN Accenture PLC Class A put New 10,000 $2.5M
RUN Sunrun Inc. put Sold out 281,800 $2.3Mbefore exit
WHR Whirlpool Corp. put Sold out 20,000 $2.0Mbefore exit
CZR Caesars Entertainment Inc. call Add +56.4% 74,300 $2.0M
BE Bloom Energy Corp. Class A call New 20,000 $1.7M
CRWV Coreweave Inc. Class A put Add +140.0% 12,000 $1.6M
MBLY Mobileye Global Inc. Class A call Sold out 80,500 $1.4Mbefore exit
CSCO Cisco Systems Inc. put New 20,000 $1.4M
XRX Xerox Holdings Corp. put Reduce -75.5% 350,000 $1.3M
MSTR Strategy Inc. call Reduce -50.0% 3,800 $1.2M
PLUG Plug Power Inc. call Sold out 805,500 $1.2Mbefore exit
NBIS Nebius Group NV put New 10,500 $1.2M
CCL Carnival Corp. call Add +200.0% 30,000 $867K
CLF Cleveland-Cliffs Inc. put New 70,000 $854K
MUR Murphy Oil Corp. put New 30,000 $852K
ENPH Enphase Energy Inc. put Sold out 20,100 $797Kbefore exit
CZR Caesars Entertainment Inc. put Sold out 25,000 $710Kbefore exit
UEC Uranium Energy Corp. put New 52,500 $700K
NBR Nabors Industries Ltd. call Sold out 12,500 $350Kbefore exit
PRMB Primo Brands Corp. call New 15,000 $332K
ALIT Alight Inc. Class A call Add +65.9% 100,700 $328K
BABA Alibaba Group Holding-SP ADR call Reduce -81.3% 1,500 $270K

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
STRATEGY INC (MSTR 0.875 03/15/31) NOTE 0.875% 3/1 · principal Reduce -30.0% 14,000,000 $22.1M
UNITI GROUP INC (UNIT 7.5 12/01/27) NOTE 7.500%12/0 · principal New 5,255,000 $5.7M

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