Macquarie Group Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Macquarie Group Ltd. reported 1,525 stock positions worth $85.5 billion. Its top holding was Nvidia (NVDA) at 4.9% of the portfolio, followed by Microsoft (MSFT, 4.6%) and Apple (AAPL, 2.7%). Compared with Q2 2025, it opened 81 new positions, sold out of 128, added to 478 and reduced 790. The biggest buy was Nvidia (NVDA, shares +9%) and the biggest sale Enbridge (ENB, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Sydney, NSW 2000, C3
- CIK
- 0001418333
- Portfolio Value
- $85.5B (Q3 2025)
- SEC Filing
- 0001193125-25-279366 ↗ filed Nov 13, 2025
Holdings Value
Holdings 1,525 stocks · $85.5B
| NVDA Nvidia Corp. | 4.94% | 22,638,577 | $4.2B | Add +9.1% |
| MSFT Microsoft Corp. | 4.55% | 7,518,358 | $3.9B | Add +7.3% |
| AAPL Apple Inc. | 2.73% | 9,172,631 | $2.3B | Add +13.2% |
| AMZN Amazon.com Inc. | 2.12% | 8,249,257 | $1.8B | Add +4.1% |
| GOOGL Alphabet Inc. Class A | 1.93% | 6,786,405 | $1.6B | Add +9.8% |
| META Meta Platforms Inc. Class A | 1.49% | 1,731,778 | $1.3B | Add +8.4% |
| AVGO Broadcom Inc. | 1.43% | 3,693,776 | $1.2B | Add +2.9% |
| IVV iShares Core S&P 500 ETF | 1.32% | 1,689,368 | $1.1B | Add +61.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.09% | 1,393,025 | $928.0M | Add +35.2% |
| TSM Taiwan Semiconductor-SP ADR | 1.03% | 3,167,073 | $884.5M | Reduce -1.4% |
| V Visa Inc. Class A | 0.83% | 2,072,878 | $707.6M | Reduce -7.2% |
| MA Mastercard Inc. Class A | 0.74% | 1,113,089 | $633.0M | Reduce -2.4% |
| HWM Howmet Aerospace Inc. | 0.67% | 2,927,735 | $574.5M | Reduce -7.1% |
| MU Micron Technology Inc. | 0.61% | 3,120,619 | $522.1M | Add +10.4% |
| GOOG Alphabet Inc. Class C | 0.53% | 1,852,903 | $451.3M | Add +36.3% |
| NFLX Netflix Inc. | 0.53% | 375,743 | $450.5M | Add +0.4% |
| AMD Advanced Micro Devices | 0.51% | 2,717,638 | $439.7M | Add +42.3% |
| CDW CDW Corp. | 0.50% | 2,669,333 | $425.2M | Reduce -11.1% |
| INTU Intuit Inc. | 0.50% | 620,371 | $423.6M | Reduce -2.7% |
| ZBRA Zebra Technologies Corp. Class A | 0.49% | 1,383,367 | $418.5M | Add +108.8% |
| ICE Intercontinental Exchange Inc. | 0.48% | 2,442,696 | $411.5M | Reduce -2.4% |
| BABA Alibaba Group Holding-SP ADR | 0.48% | 2,283,302 | $408.1M | Add +0.6% |
| CRM Salesforce Inc. | 0.47% | 1,707,658 | $404.7M | Add +13.0% |
| JPM JPMorgan Chase & Co. | 0.44% | 1,184,407 | $373.5M | Reduce -0.9% |
| DHR Danaher Corp. | 0.43% | 1,867,985 | $370.3M | Add +14.5% |
| CSGP Costar Group Inc. | 0.42% | 4,267,156 | $360.0M | Reduce -11.7% |
| BKNG Booking Holdings Inc. | 0.40% | 63,410 | $342.4M | Add +17.7% |
| XOM Exxon Mobil Corp. | 0.40% | 3,035,072 | $342.2M | Add +2.5% |
| IDXX Idexx Laboratories Inc. | 0.39% | 526,630 | $336.5M | Reduce -12.5% |
| NEE Nextera Energy Inc. | 0.38% | 4,316,788 | $325.9M | Add +38.6% |
| PLD Prologis Inc. | 0.37% | 2,774,469 | $317.7M | Add +42.4% |
| TSLA Tesla Inc. | 0.37% | 706,564 | $314.2M | Add +33.4% |
| ZWS Zurn Elkay Water Solutions C | 0.36% | 7,477,566 | $309.7M | Add +86.2% |
| VEEV Veeva Systems Inc. Class A | 0.35% | 1,018,053 | $303.3M | Reduce -10.3% |
| WELL Welltower Inc. | 0.35% | 1,690,158 | $301.1M | Reduce -3.6% |
| T AT&T Inc. | 0.35% | 10,510,056 | $296.6M | Add +6.5% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.35% | 648,344 | $295.6M | Add +8.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.34% | 3,367,504 | $294.0M | Add +4.2% |
| WFC Wells Fargo & Co. | 0.34% | 3,478,322 | $291.6M | Add +101.3% |
| IBIT iShares Bitcoin Trust ETF | 0.33% | 4,404,792 | $286.3M | Add +43.1% |
| MRK Merck & Co. Inc. | 0.33% | 3,404,859 | $285.8M | Reduce -2.0% |
| EQIX Equinix Inc. | 0.33% | 364,593 | $285.6M | Reduce -42.9% |
| CSCO Cisco Systems Inc. | 0.33% | 4,097,672 | $280.3M | Reduce -17.7% |
| SAP Sap SE-Sponsored ADR | 0.31% | 995,327 | $266.0M | Reduce -10.4% |
| COST Costco Wholesale Corp. | 0.30% | 276,917 | $256.3M | Reduce -7.4% |
| JNJ Johnson & Johnson | 0.30% | 1,376,439 | $255.2M | Reduce -15.4% |
| ISRG Intuitive Surgical Inc. | 0.30% | 566,127 | $253.2M | Reduce -0.1% |
| MELI MercadoLibre Inc. | 0.30% | 108,314 | $253.1M | Add +5.0% |
| MS Morgan Stanley | 0.29% | 1,581,565 | $251.4M | Add +17.1% |
| UNH Unitedhealth Group Inc. | 0.29% | 717,475 | $247.7M | Reduce -38.0% |
| RCL Royal Caribbean Cruises Ltd. | 0.29% | 756,729 | $244.9M | Add +7.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.29% | 4,743,536 | $244.7M | Add +6.2% |
| ABT Abbott Laboratories | 0.28% | 1,817,876 | $243.4M | Add +8.4% |
| SPGI S&P Global Inc. | 0.28% | 492,902 | $239.9M | Add +22.8% |
| ONB Old National Bancorp | 0.28% | 10,876,660 | $238.7M | Reduce -0.0% |
| XEL Xcel Energy Inc. | 0.28% | 3,230,866 | $238.7M | Add +85.4% |
| SNOW Snowflake Inc. | 0.27% | 1,011,879 | $228.2M | Add +0.9% |
| HD Home Depot Inc. | 0.27% | 563,227 | $228.2M | Reduce -5.1% |
| DDOG Datadog Inc. Class A | 0.26% | 1,571,916 | $223.8M | Add +29.3% |
| CSX CSX Corp. | 0.26% | 6,247,326 | $221.8M | Reduce -13.0% |
| ABBV Abbvie Inc. | 0.25% | 934,485 | $216.1M | Add +56.6% |
| VMC Vulcan Materials Co. | 0.25% | 698,562 | $214.9M | Add +180.3% |
| SMTC Semtech Corp. | 0.24% | 2,890,543 | $206.5M | Reduce -5.1% |
| WSFS WSFS Financial Corp. | 0.24% | 3,789,431 | $206.5M | Add +93.3% |
| WCN Waste Connections Inc. | 0.24% | 1,163,354 | $204.5M | Reduce -18.1% |
| EFX Equifax Inc. | 0.24% | 796,572 | $204.3M | Add +1.8% |
| CME Cme Group Inc. | 0.24% | 754,741 | $203.9M | Add +30.6% |
| LLY Eli Lilly & Co. | 0.24% | 264,571 | $201.9M | Reduce -10.6% |
| KO The Coca-Cola Co. | 0.23% | 2,963,910 | $196.6M | Reduce -23.5% |
| SNPS Synopsys Inc. | 0.23% | 394,240 | $194.5M | Add +54.0% |
| BSX Boston Scientific Corp. | 0.22% | 1,935,992 | $189.0M | Reduce -0.5% |
| FAST Fastenal Co. | 0.22% | 3,848,472 | $188.7M | Reduce -16.3% |
| CI The Cigna Group | 0.22% | 654,210 | $188.6M | Reduce -17.9% |
| SRE Sempra | 0.22% | 2,088,117 | $187.9M | Add +22.1% |
| NET Cloudflare Inc. Class A | 0.22% | 866,377 | $185.9M | Reduce -6.0% |
| ESNT Essent Group Ltd. | 0.22% | 2,911,389 | $185.0M | Reduce -8.0% |
| DUK Duke Energy Corp. | 0.22% | 1,487,862 | $184.1M | Reduce -23.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.21% | 189,498 | $183.5M | Reduce -1.6% |
| VOO Vanguard S&P 500 ETF | 0.21% | 298,954 | $183.1M | Reduce -6.8% |
| COF Capital One Financial Corp. | 0.21% | 860,592 | $182.9M | Add +22.3% |
| AZO AutoZone Inc. | 0.21% | 42,525 | $182.4M | Reduce -2.1% |
| ALL Allstate Corp. | 0.21% | 832,453 | $178.7M | Reduce -44.2% |
| AXP American Express Co. | 0.21% | 537,808 | $178.6M | Reduce -3.4% |
| GILD Gilead Sciences Inc. | 0.21% | 1,588,539 | $176.3M | Add +10.1% |
| GTM Zoominfo Technologies Inc. | 0.21% | 16,728,210 | $175.9M | Add +100.0% |
| UBER Uber Technologies Inc. | 0.20% | 1,777,451 | $174.1M | Reduce -9.4% |
| APH Amphenol Corp. Class A | 0.20% | 1,405,604 | $173.9M | Add +272.4% |
| TMO Thermo Fisher Scientific Inc. | 0.20% | 353,635 | $171.5M | Reduce -18.9% |
| CDNS Cadence Design SYS Inc. | 0.20% | 484,912 | $170.3M | Reduce -1.1% |
| ROAD Construction Partners Inc. Class A | 0.20% | 1,322,972 | $168.0M | Reduce -11.0% |
| EXC Exelon Corp. | 0.20% | 3,723,814 | $167.6M | Add +20.5% |
| TTWO Take-Two Interactive Softwre | 0.20% | 648,670 | $167.6M | Reduce -0.2% |
| PDD PDD Holdings Inc. | 0.20% | 1,267,720 | $167.6M | Reduce -1.3% |
| AEP American Electric Power | 0.20% | 1,486,975 | $167.3M | Reduce -25.4% |
| MPWR Monolithic Power Systems Inc. | 0.19% | 180,795 | $166.4M | Reduce -7.0% |
| KRG Kite Realty Group Trust | 0.19% | 7,408,444 | $165.2M | Reduce -15.7% |
| FSS Federal Signal Corp. | 0.19% | 1,387,802 | $165.1M | Reduce -10.2% |
| C Citigroup Inc. | 0.19% | 1,614,853 | $163.9M | Add +2.3% |
| VTR Ventas Inc. | 0.19% | 2,339,311 | $163.7M | Add +35.6% |
| PGR Progressive Corp. | 0.19% | 662,394 | $163.6M | Reduce -2.3% |
Other holdings (63): bonds, preferreds, convertibles and warrants · $167.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 3,272,000 | $7.8M | Add +72.2% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 7,520,000 | $7.6M | Reduce -3.8% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 6,010,000 | $6.2M | Reduce -3.2% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 104,409 | $5.2M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 4,779,000 | $5.1M | Reduce -3.0% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 4,660,000 | $4.9M | Reduce -4.1% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 4,149,000 | $4.7M | Reduce -4.3% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 3,827,000 | $4.5M | Reduce -2.5% |
| SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) | NOTE 3.500%12/0 · principal | 2,164,000 | $4.1M | No change |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 3,280,000 | $4.0M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 54,274 | $3.8M | New |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 3,963,000 | $3.6M | No change |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 1,807,000 | $3.6M | No change |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 2,449,000 | $3.5M | No change |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 2,090,000 | $3.4M | Reduce -2.8% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 47,764 | $3.4M | No change |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 3,100,000 | $3.3M | New |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 2,581,000 | $3.3M | No change |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 2,639,000 | $3.2M | No change |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 2,850,000 | $3.1M | Reduce -6.6% |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 3,028,000 | $3.0M | New |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 3,100,000 | $3.0M | Add +100.0% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 2,850,000 | $2.9M | Reduce -5.0% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 2,612,000 | $2.8M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 3,000,000 | $2.8M | No change |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 2,726,000 | $2.8M | No change |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 2,841,000 | $2.8M | No change |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 54,312 | $2.7M | Reduce -3.6% |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 3,392,000 | $2.6M | Reduce -2.3% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 2,711,000 | $2.6M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 2,075,000 | $2.6M | Reduce -6.7% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 1,900,000 | $2.4M | No change |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 2,100,000 | $2.4M | Add +68.0% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 2,551,000 | $2.4M | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 525,000 | $2.3M | Reduce -36.4% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 1,600,000 | $2.3M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 2,345,000 | $2.3M | Reduce -9.6% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 2,086,000 | $2.1M | Reduce -0.7% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 2,000,000 | $2.1M | No change |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 1,900,000 | $2.0M | Reduce -7.3% |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 2,233,000 | $1.9M | No change |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 1,600,000 | $1.9M | Reduce -5.9% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 1,650,000 | $1.9M | Reduce -8.3% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 1,900,000 | $1.8M | Reduce -13.6% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 1,200,000 | $1.8M | Reduce -42.9% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 1,750,000 | $1.7M | No change |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 1,600,000 | $1.7M | No change |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 1,475,000 | $1.6M | No change |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 1,777,000 | $1.6M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 1,400,000 | $1.4M | Reduce -22.2% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 1,400,000 | $1.4M | New |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 1,200,000 | $1.4M | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 1,336,000 | $1.3M | Reduce -34.6% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 1,200,000 | $1.3M | No change |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 1,170,000 | $1.2M | Reduce -49.1% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,200,000 | $1.2M | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 1,071,000 | $1.1M | No change |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 900,000 | $956K | Reduce -10.0% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 487,000 | $637K | No change |
| WISDOMTREE INC (WT 5.75 08/15/28) | NOTE 5.750% 8/1 · principal | 120,000 | $158K | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 1,177 | $30K | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD · principal | 53,150 | $26K | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L · principal | 2,009 | $3K | Reduce -0.6% |
Total filed on the 13F, all lines: $85.7B.
Portfolio Sells Q2 2025 → Q3 2025
| ENB Enbridge Inc. | Reduce -99.3% | 0.00% | −0.38 |
| DFIV Dimensional International Va | Sold out | 0.00% | −0.32 |
| EQIX Equinix Inc. | Reduce -42.9% | 0.33% | −0.29 |
| MSCI MSCI Inc. | Reduce -56.2% | 0.13% | −0.19 |
| DIS The Walt Disney Co. | Reduce -71.7% | 0.06% | −0.19 |
| ADI Analog Devices Inc. | Reduce -51.0% | 0.16% | −0.17 |
| BAX Baxter International Inc. | Reduce -98.5% | 0.00% | −0.16 |
| CDW CDW Corp. | Reduce -11.1% | 0.50% | −0.16 |
| ALL Allstate Corp. | Reduce -44.2% | 0.21% | −0.16 |
| SNV Synovus Financial Corp. | Reduce -93.3% | 0.01% | −0.16 |
| UNH Unitedhealth Group Inc. | Reduce -38.0% | 0.29% | −0.15 |
| GTLS Chart Industries Inc. | Reduce -100.0% | 0.00% | −0.15 |
| V Visa Inc. Class A | Reduce -7.2% | 0.83% | −0.15 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −0.15 |
| MNDY Monday.com Ltd. | Reduce -43.9% | 0.07% | −0.14 |
| SSB Southstate Bank Corp. | Sold out | 0.00% | −0.14 |
| OWL Blue Owl Capital Inc. | Reduce -74.4% | 0.04% | −0.13 |
| VRSN Verisign Inc. | Reduce -91.5% | 0.01% | −0.13 |
| TTD Trade Desk Inc./the Class A | Reduce -96.8% | 0.00% | −0.13 |
| CAG Conagra Brands Inc. | Reduce -99.4% | 0.00% | −0.12 |
| INTU Intuit Inc. | Reduce -2.7% | 0.50% | −0.12 |
| HUBS HubSpot Inc. | Reduce -44.1% | 0.10% | −0.12 |
| CYBR Cyberark Software Ltd./Israel | Reduce -95.5% | 0.01% | −0.11 |
| ODFL Old Dominion Freight Line | Reduce -36.3% | 0.12% | −0.11 |
| KO The Coca-Cola Co. | Reduce -23.5% | 0.23% | −0.11 |
| SAP Sap SE-Sponsored ADR | Reduce -10.4% | 0.31% | −0.10 |
| KVUE Kenvue Inc. | Reduce -43.4% | 0.07% | −0.10 |
| CI The Cigna Group | Reduce -17.9% | 0.22% | −0.10 |
| CSCO Cisco Systems Inc. | Reduce -17.7% | 0.33% | −0.10 |
| FIS Fidelity National Info Serv | Reduce -35.4% | 0.09% | −0.09 |
| EWBC East West Bancorp Inc. | Reduce -50.2% | 0.09% | −0.09 |
| CPRT Copart Inc. | Reduce -46.0% | 0.08% | −0.09 |
| WCN Waste Connections Inc. | Reduce -18.1% | 0.24% | −0.09 |
| CNI Canadian Natl Railway Co. | Reduce -91.8% | 0.00% | −0.08 |
| ICE Intercontinental Exchange Inc. | Reduce -2.4% | 0.48% | −0.08 |
| ISRG Intuitive Surgical Inc. | Reduce -0.1% | 0.30% | −0.08 |
| BAH Booz Allen Hamilton Holdings | Reduce -97.7% | 0.00% | −0.08 |
| CMA Comerica Inc. | Reduce -97.4% | 0.00% | −0.08 |
| DOV Dover Corp. | Reduce -34.7% | 0.10% | −0.08 |
| INSP Inspire Medical Systems Inc. | Reduce -91.3% | 0.00% | −0.08 |
| HSY The Hershey Co. | Reduce -40.8% | 0.13% | −0.08 |
| PBH Prestige Consumer Healthcare | Reduce -17.6% | 0.12% | −0.07 |
| NKE Nike Inc. Class B | Reduce -23.7% | 0.18% | −0.07 |
| PATH Uipath Inc. Class A | Sold out | 0.00% | −0.07 |
| TDY Teledyne Technologies Inc. | Reduce -44.8% | 0.11% | −0.07 |
| TRV The Travelers Cos Inc. | Reduce -31.5% | 0.15% | −0.07 |
| SCHW Schwab (charles) Corp. | Reduce -33.2% | 0.14% | −0.07 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −0.07 |
| CP Canadian Pacific Kansas City | Reduce -98.0% | 0.00% | −0.07 |
| J Jacobs Solutions Inc. | Reduce -43.8% | 0.11% | −0.07 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +9.1% | 4.94% | +0.91 |
| AAPL Apple Inc. | Add +13.2% | 2.73% | +0.69 |
| GOOGL Alphabet Inc. Class A | Add +9.8% | 1.93% | +0.59 |
| IVV iShares Core S&P 500 ETF | Add +61.7% | 1.32% | +0.53 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +35.2% | 1.09% | +0.30 |
| MSFT Microsoft Corp. | Add +7.3% | 4.55% | +0.27 |
| ZBRA Zebra Technologies Corp. Class A | Add +108.8% | 0.49% | +0.24 |
| GOOG Alphabet Inc. Class C | Add +36.3% | 0.53% | +0.23 |
| AVGO Broadcom Inc. | Add +2.9% | 1.43% | +0.21 |
| MU Micron Technology Inc. | Add +10.4% | 0.61% | +0.18 |
| ZWS Zurn Elkay Water Solutions C | Add +86.2% | 0.36% | +0.18 |
| AMD Advanced Micro Devices | Add +42.3% | 0.51% | +0.18 |
| VONV Vanguard Russell 1000 Value | Add +6414.6% | 0.18% | +0.17 |
| VMC Vulcan Materials Co. | Add +180.3% | 0.25% | +0.17 |
| WFC Wells Fargo & Co. | Add +101.3% | 0.34% | +0.17 |
| BABA Alibaba Group Holding-SP ADR | Add +0.6% | 0.48% | +0.16 |
| TSLA Tesla Inc. | Add +33.4% | 0.37% | +0.16 |
| APH Amphenol Corp. Class A | Add +272.4% | 0.20% | +0.16 |
| XEL Xcel Energy Inc. | Add +85.4% | 0.28% | +0.13 |
| PLD Prologis Inc. | Add +42.4% | 0.37% | +0.12 |
| SPXC SPX Technologies Inc. | Add +152.5% | 0.19% | +0.12 |
| ABBV Abbvie Inc. | Add +56.6% | 0.25% | +0.12 |
| NEE Nextera Energy Inc. | Add +38.6% | 0.38% | +0.12 |
| LRGG Nomura Focused Large Growth | New | 0.11% | +0.11 |
| AGG iShares Core U.S. Aggregate | New | 0.11% | +0.11 |
| WSFS WSFS Financial Corp. | Add +93.3% | 0.24% | +0.11 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +8.0% | 0.35% | +0.11 |
| IBIT iShares Bitcoin Trust ETF | Add +43.1% | 0.33% | +0.10 |
| GTM Zoominfo Technologies Inc. | Add +100.0% | 0.21% | +0.10 |
| MRSH Marsh & McLennan Cos | Add +251.8% | 0.14% | +0.09 |
| PPG PPG Industries Inc. | Add +2194.0% | 0.10% | +0.09 |
| NWS News Corp. Class B | Add +8539.8% | 0.08% | +0.08 |
| BLK BlackRock Inc. | Add +238.7% | 0.11% | +0.08 |
| LHX L3HARRIS Technologies Inc. | Add +95.0% | 0.13% | +0.08 |
| WK Workiva Inc. | Add +81.3% | 0.16% | +0.07 |
| PWR Quanta Services Inc. | Add +74.9% | 0.16% | +0.07 |
| D Dominion Energy Inc. | Add +71.9% | 0.16% | +0.07 |
| WDC Western Digital Corp. | Add +818.4% | 0.08% | +0.07 |
| KTOS Kratos Defense & Security | Add +30.1% | 0.12% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +52.1% | 0.14% | +0.07 |
| REXR Rexford Industrial Realty Inc. | Add +600.8% | 0.08% | +0.07 |
| SPOT Spotify Technology SA | Add +193.5% | 0.11% | +0.07 |
| U Unity Software Inc. | Add +1.6% | 0.18% | +0.07 |
| ORCL Oracle Corp. | Add +42.2% | 0.16% | +0.07 |
| SNPS Synopsys Inc. | Add +54.0% | 0.23% | +0.07 |
| BIDU Baidu Inc. - Spon ADR | Add +12.6% | 0.16% | +0.06 |
| ABEV Ambev SA-ADR | Add +523.0% | 0.08% | +0.06 |
| DDOG Datadog Inc. Class A | Add +29.3% | 0.26% | +0.06 |
| SRE Sempra | Add +22.1% | 0.22% | +0.06 |
| MS Morgan Stanley | Add +17.1% | 0.29% | +0.06 |
Notes & Other Activity Q2 2025 → Q3 2025
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +72.2% | 3,272,000 | $7.8M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Reduce -3.8% | 7,520,000 | $7.6M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | Reduce -3.2% | 6,010,000 | $6.2M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -3.0% | 4,779,000 | $5.1M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Reduce -4.1% | 4,660,000 | $4.9M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -4.3% | 4,149,000 | $4.7M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -2.5% | 3,827,000 | $4.5M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | New | 54,274 | $3.8M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Reduce -2.8% | 2,090,000 | $3.4M |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | New | 3,100,000 | $3.3M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Reduce -6.6% | 2,850,000 | $3.1M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Sold out | 781,000 | $3.1Mbefore exit |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | New | 3,028,000 | $3.0M |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Add +100.0% | 3,100,000 | $3.0M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Reduce -5.0% | 2,850,000 | $2.9M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Reduce -3.6% | 54,312 | $2.7M |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | Reduce -2.3% | 3,392,000 | $2.6M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Reduce -6.7% | 2,075,000 | $2.6M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +68.0% | 2,100,000 | $2.4M |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | Reduce -36.4% | 525,000 | $2.3M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -9.6% | 2,345,000 | $2.3M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -0.7% | 2,086,000 | $2.1M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Reduce -7.3% | 1,900,000 | $2.0M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Sold out | 1,300,000 | $2.0Mbefore exit |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Sold out | 1,700,000 | $1.9Mbefore exit |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Reduce -5.9% | 1,600,000 | $1.9M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -8.3% | 1,650,000 | $1.9M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -13.6% | 1,900,000 | $1.8M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Reduce -42.9% | 1,200,000 | $1.8M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 1,000,000 | $1.5Mbefore exit |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | Sold out | 1,500,000 | $1.5Mbefore exit |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Reduce -22.2% | 1,400,000 | $1.4M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | New | 1,400,000 | $1.4M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | New | 1,200,000 | $1.4M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Reduce -34.6% | 1,336,000 | $1.3M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Reduce -49.1% | 1,170,000 | $1.2M |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | Sold out | 1,200,000 | $1.2Mbefore exit |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Reduce -10.0% | 900,000 | $956K |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Sold out | 600,000 | $593Kbefore exit |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Sold out | 611 | $7Kbefore exit |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L · principal | Reduce -0.6% | 2,009 | $3K |
| CNMD Conmed Corp. | COM | Reduce -100.0% | 0 | $0 |
| VMI Valmont Industries | COM | New | 0 | $0 |
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 | 928 | $23.2B | IVV, NVDA, AAPL, SPY, GOOGL |
| Q1 2026 | 812 | $16.8B | IVV, SPY, NVDA, AAPL, MSFT |
| Q4 2025 | 829 | $22.8B | IVV, VOO, NVDA, AAPL, MSFT |
| Q3 2025 | 1,525 | $85.5B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q2 2025 | 1,573 | $81.4B | MSFT, NVDA, AMZN, AAPL, META |
| Q1 2025Amended | 1,638 | $80.4B | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q4 2024 | 1,598 | $82.5B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q3 2024 | 1,589 | $92.5B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q2 2024 | 1,828 | $87.0B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 1,849 | $88.0B | MSFT, NVDA, AMZN, AAPL, GOOGL |