Manufacturers Life Insurance Company, The
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Manufacturers Life Insurance Company, The reported 2,917 stock positions worth $113.8 billion. Its top holding was Apple (AAPL) at 4.0% of the portfolio, followed by Amazon.com (AMZN, 3.7%) and Microsoft (MSFT, 3.6%). Compared with Q3 2024, it opened 66 new positions, sold out of 100, added to 754 and reduced 2,061. The biggest buy was Alphabet Class A (GOOGL, shares +2%) and the biggest sale Elevance Health (ELV, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- CANADA, A6
- CIK
- 0000928047
- Portfolio Value
- $113.8B (Q4 2024)
- SEC Filing
- 0001145443-25-000028 ↗ filed Feb 14, 2025
Holdings Value
Holdings 2,917 stocks · $113.8B
| AAPL Apple Inc. | 4.00% | 18,198,754 | $4.6B | Add +2.4% |
| AMZN Amazon.com Inc. | 3.66% | 18,982,978 | $4.2B | Reduce -0.3% |
| MSFT Microsoft Corp. | 3.56% | 9,608,582 | $4.1B | Add +3.9% |
| NVDA Nvidia Corp. | 2.82% | 23,898,205 | $3.2B | Add +2.3% |
| GOOGL Alphabet Inc. Class A | 2.69% | 16,201,800 | $3.1B | Add +1.5% |
| RY Royal Bank of Canada | 1.22% | 11,473,362 | $1.4B | Reduce -4.3% |
| LLY Eli Lilly & Co. | 1.09% | 1,603,055 | $1.2B | Add +5.8% |
| LNG Cheniere Energy Inc. | 1.07% | 5,681,846 | $1.2B | Add +4.5% |
| UNH Unitedhealth Group Inc. | 0.95% | 2,138,094 | $1.1B | Add +35.5% |
| AVGO Broadcom Inc. | 0.91% | 4,468,365 | $1.0B | Reduce -6.9% |
| META Meta Platforms Inc. Class A | 0.89% | 1,731,078 | $1.0B | Add +3.3% |
| KKR KKR & Co. Inc. | 0.87% | 6,728,192 | $995.2M | Reduce -10.9% |
| WDAY Workday Inc. Class A | 0.84% | 3,722,255 | $960.5M | Add +60.7% |
| CNQ Canadian Natural Resources | 0.81% | 29,910,127 | $924.7M | Add +5.1% |
| BND Vanguard Total Bond Market | 0.81% | 12,791,301 | $919.8M | Add +15.8% |
| WMT Walmart Inc. | 0.80% | 10,080,364 | $910.8M | Reduce -4.6% |
| MS Morgan Stanley | 0.79% | 7,164,838 | $900.8M | Reduce -19.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.78% | 1,969,112 | $892.6M | Reduce -16.5% |
| TMO Thermo Fisher Scientific Inc. | 0.77% | 1,676,267 | $872.0M | Add +18.1% |
| SU Suncor Energy Inc. | 0.75% | 24,011,317 | $858.0M | Reduce -4.6% |
| CP Canadian Pacific Kansas City | 0.75% | 11,707,319 | $848.8M | Add +2.9% |
| LEN Lennar Corp. Class A | 0.73% | 6,116,558 | $834.1M | Add +3.6% |
| ENB Enbridge Inc. | 0.72% | 19,228,809 | $817.2M | Reduce -2.9% |
| CRM Salesforce Inc. | 0.71% | 2,421,133 | $809.5M | Reduce -8.3% |
| TSLA Tesla Inc. | 0.70% | 1,971,026 | $796.0M | Add +7.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.70% | 1,357,825 | $795.8M | Reduce -2.6% |
| ADI Analog Devices Inc. | 0.69% | 3,715,313 | $789.4M | Add +5.1% |
| SHOP Shopify Inc. Class A | 0.67% | 7,168,363 | $763.5M | Reduce -12.7% |
| ELV Elevance Health Inc. | 0.65% | 1,994,419 | $735.7M | Reduce -4.7% |
| GOOG Alphabet Inc. Class C | 0.61% | 3,622,528 | $689.9M | Add +1.1% |
| BN Brookfield Corp. | 0.60% | 11,866,447 | $682.5M | Add +1.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.58% | 6,838,171 | $664.7M | Add +42.7% |
| TXN Texas Instruments Inc. | 0.57% | 3,480,878 | $652.7M | Add +6.2% |
| JPM JPMorgan Chase & Co. | 0.56% | 2,677,736 | $641.9M | Reduce -0.9% |
| GS Goldman Sachs Group Inc. | 0.55% | 1,089,202 | $623.7M | Reduce -5.8% |
| TD Toronto-Dominion Bank | 0.55% | 11,642,719 | $620.7M | Reduce -13.8% |
| ORCL Oracle Corp. | 0.54% | 3,679,157 | $613.1M | Reduce -5.1% |
| GILD Gilead Sciences Inc. | 0.51% | 6,308,718 | $582.7M | Reduce -0.5% |
| FWONK Liberty Media Corp. Class C | 0.50% | 6,168,176 | $571.5M | Add +3.8% |
| VOO Vanguard S&P 500 ETF | 0.50% | 1,057,742 | $569.9M | Add +0.7% |
| SLF Sun Life Financial Inc. | 0.49% | 9,454,589 | $562.1M | Add +2.1% |
| CCI Crown Castle Inc. | 0.49% | 6,144,359 | $557.7M | Add +1.0% |
| JHEM John Hancock Multi Em MRK Et | 0.48% | 21,343,162 | $551.7M | Add +0.2% |
| V Visa Inc. Class A | 0.48% | 1,741,579 | $550.4M | Reduce -2.9% |
| NDAQ Nasdaq Inc. | 0.47% | 6,954,334 | $537.6M | Add +5.1% |
| MRK Merck & Co. Inc. | 0.44% | 5,078,200 | $505.2M | Reduce -1.4% |
| ADBE Adobe Inc. | 0.42% | 1,075,945 | $478.5M | Add +225.9% |
| URI United Rentals Inc. | 0.41% | 659,779 | $464.8M | Reduce -6.3% |
| WCN Waste Connections Inc. | 0.40% | 2,633,372 | $452.3M | Reduce -1.4% |
| DHR Danaher Corp. | 0.39% | 1,945,109 | $446.5M | Add +4.6% |
| LIN Linde PLC | 0.39% | 1,051,666 | $440.3M | Add +2.2% |
| JNJ Johnson & Johnson | 0.38% | 2,984,838 | $431.7M | Add +3.2% |
| GIB Cgi Inc. | 0.38% | 3,911,865 | $428.6M | Reduce -11.7% |
| SYK Stryker Corp. | 0.37% | 1,178,398 | $424.3M | Reduce -6.3% |
| ABBV Abbvie Inc. | 0.36% | 2,290,058 | $406.9M | Add +0.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.36% | 3,640,306 | $405.3M | Add +3.4% |
| ABT Abbott Laboratories | 0.35% | 3,539,497 | $400.4M | Reduce -14.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.34% | 8,931,340 | $392.5M | Add +0.2% |
| CNI Canadian Natl Railway Co. | 0.34% | 3,857,084 | $392.2M | Add +1.0% |
| MA Mastercard Inc. Class A | 0.34% | 732,476 | $385.7M | Add +17.5% |
| IVV iShares Core S&P 500 ETF | 0.33% | 645,926 | $380.2M | Add +29.3% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.33% | 7,569,492 | $379.0M | Add +7.2% |
| XOM Exxon Mobil Corp. | 0.33% | 3,481,301 | $374.5M | Reduce -2.9% |
| WFC Wells Fargo & Co. | 0.32% | 5,124,471 | $359.9M | Add +0.5% |
| MCK McKesson Corp. | 0.31% | 624,245 | $355.8M | Reduce -47.5% |
| AON Aon PLC Class A | 0.31% | 988,985 | $355.2M | Add +15.2% |
| CSCO Cisco Systems Inc. | 0.31% | 5,996,104 | $355.0M | Add +8.2% |
| MDT Medtronic PLC | 0.30% | 4,325,726 | $345.5M | Add +33.0% |
| FIS Fidelity National Info Serv | 0.30% | 4,237,903 | $342.3M | Reduce -4.4% |
| KLAC KLA Corp. | 0.30% | 538,196 | $339.1M | Add +10.7% |
| PG The Procter & Gamble Co. | 0.29% | 1,988,676 | $333.4M | Reduce -0.6% |
| LOW Lowe's Cos Inc. | 0.29% | 1,319,682 | $325.7M | Reduce -9.6% |
| BDX Becton Dickinson and Co. | 0.28% | 1,419,232 | $322.0M | Add +28.2% |
| UNP Union Pacific Corp. | 0.28% | 1,407,235 | $320.9M | Reduce -4.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.28% | 4,619,911 | $318.5M | Add +16.6% |
| AEM Agnico Eagle Mines Ltd. | 0.27% | 3,981,993 | $311.9M | Reduce -1.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.27% | 1,572,575 | $310.6M | Add +2.2% |
| HD Home Depot Inc. | 0.27% | 776,749 | $302.1M | Reduce -4.7% |
| VEA Vanguard Ftse Developed ETF | 0.26% | 6,266,887 | $299.7M | Add +68.0% |
| JHMD John Hancock MF Dev Intl ETF | 0.26% | 9,234,161 | $296.1M | Add +0.0% |
| AZO AutoZone Inc. | 0.26% | 91,608 | $293.3M | Reduce -1.4% |
| LVS Las Vegas Sands Corp. | 0.26% | 5,652,411 | $290.3M | Add +0.4% |
| VYM Vanguard High DVD Yield ETF | 0.25% | 2,274,060 | $290.1M | Add +20.3% |
| NFLX Netflix Inc. | 0.25% | 320,138 | $285.3M | Add +1.4% |
| MBLY Mobileye Global Inc. Class A | 0.25% | 14,211,880 | $283.1M | Add +4.6% |
| COST Costco Wholesale Corp. | 0.25% | 308,342 | $282.5M | Reduce -3.7% |
| ACN Accenture PLC Class A | 0.25% | 801,295 | $281.9M | Add +3.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.25% | 4,787,361 | $280.2M | Add +15.2% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.24% | 944,484 | $268.1M | Add +7.4% |
| SYY Sysco Corp. | 0.23% | 3,463,276 | $264.8M | Add +11.0% |
| FHB First Hawaiian Inc. | 0.23% | 10,133,308 | $263.0M | Reduce -4.6% |
| STN Stantec Inc. | 0.23% | 3,344,994 | $262.8M | Add +19.4% |
| PYPL PayPal Holdings Inc. | 0.23% | 3,011,752 | $257.1M | Add +71.3% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.22% | 4,031,116 | $255.3M | Add +26.5% |
| PM Philip Morris International | 0.22% | 2,115,862 | $254.6M | Reduce -3.4% |
| REGN Regeneron Pharmaceuticals | 0.22% | 356,410 | $253.9M | Add +5.4% |
| NTR Nutrien Ltd. | 0.22% | 5,627,597 | $252.1M | Add +1.4% |
| GPI Group 1 Automotive Inc. | 0.22% | 594,007 | $250.4M | Reduce -6.8% |
| WBD Warner Bros Discovery Inc. | 0.22% | 23,608,829 | $249.5M | Add +7.9% |
| BRO Brown & Brown Inc. | 0.22% | 2,410,115 | $245.9M | Reduce -1.7% |
Other holdings (53): bonds, preferreds, convertibles and warrants · $1.3B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 3,076,800 | $150.5M | Reduce -4.1% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 1,406,050 | $86.6M | New |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 82,260,000 | $84.7M | Reduce -0.8% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 79,150,000 | $81.2M | Reduce -0.9% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 75,755,000 | $75.0M | Add +57.6% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 73,537,000 | $75.0M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 1,179,610 | $74.1M | Reduce -8.6% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 61,882 | $73.7M | No change |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 52,255,000 | $57.7M | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 50,321,000 | $54.3M | Add +2515950.0% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 42,495 | $51.5M | No change |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 30,405,000 | $35.6M | Reduce -2.8% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 34,571,000 | $32.4M | Reduce -5.1% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 28,700,000 | $27.8M | No change |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 10,500,000 | $27.7M | No change |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 550,000 | $27.5M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 25,550,000 | $27.1M | Reduce -13.8% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 637,761 | $26.3M | Reduce -42.1% |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 26,196,000 | $26.0M | No change |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 14,350,000 | $25.4M | Reduce -5.3% |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 14,755,000 | $22.1M | Reduce -0.3% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 15,400,000 | $20.2M | Reduce -6.7% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 377,950 | $17.3M | New |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 8,100,000 | $12.5M | No change |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 10,200,000 | $12.3M | No change |
| BURLINGTON STORES INC (BURL 2.25 04/15/25) | NOTE 2.250% 4/1 · principal | 8,550,000 | $11.2M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 9,300,000 | $10.6M | No change |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 10,378,000 | $9.9M | Reduce -14.8% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 6,500,000 | $8.6M | New |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 9,700,000 | $8.0M | No change |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 5,000,000 | $4.5M | No change |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | 4,500,000 | $4.5M | Add +12.5% |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 4,179,000 | $4.1M | Reduce -47.8% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 3,900,000 | $4.0M | No change |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 3,750,000 | $3.5M | No change |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 3,450,000 | $3.4M | Reduce -6.8% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 2,700,000 | $3.0M | No change |
| LIVENT CORP (LTHM 4.125 07/15/25) | NOTE 4.125% 7/1 · principal | 1,950,000 | $2.8M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 2,500,000 | $2.4M | No change |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 2,000,000 | $1.9M | No change |
| HUBSPOT INC (HUBS 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | 777,000 | $1.9M | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 1,800,000 | $1.6M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 1,600,000 | $1.6M | Reduce -11.1% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 1,250,000 | $1.3M | No change |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 1,250,000 | $1.3M | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 1,250,000 | $1.2M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 1,250,000 | $1.2M | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 1,000,000 | $996K | New |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 28,567 | $778K | Add +3.8% |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 14,866 | $725K | Add +48.7% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 750,000 | $713K | No change |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 16,471 | $405K | Add +23.4% |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 · principal | 17,659 | $187K | No change |
Total filed on the 13F, all lines: $115.1B.
Portfolio Sells Q3 2024 → Q4 2024
| ELV Elevance Health Inc. | Reduce -4.7% | 0.65% | −0.32 |
| TD Toronto-Dominion Bank | Reduce -13.8% | 0.55% | −0.21 |
| MCK McKesson Corp. | Reduce -47.5% | 0.31% | −0.21 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -16.5% | 0.78% | −0.18 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -96.6% | 0.01% | −0.13 |
| FSV Firstservice Corp. | Reduce -36.1% | 0.22% | −0.13 |
| RY Royal Bank of Canada | Reduce -4.3% | 1.22% | −0.11 |
| B Barrick Gold Corp. | Reduce -36.5% | 0.10% | −0.10 |
| MCD McDonald's Corp. | Reduce -41.0% | 0.13% | −0.10 |
| DIA SS SPDR Dow Jones Indus Avg | Sold out | 0.00% | −0.10 |
| QSR Restaurant Brands Intern | Reduce -32.8% | 0.15% | −0.10 |
| URI United Rentals Inc. | Reduce -6.3% | 0.41% | −0.10 |
| AMAT Applied Materials Inc. | Reduce -12.1% | 0.21% | −0.09 |
| INTU Intuit Inc. | Reduce -40.5% | 0.13% | −0.09 |
| CHTR Charter Communications Inc. Class A | Reduce -53.6% | 0.08% | −0.09 |
| AMD Advanced Micro Devices | Reduce -11.6% | 0.14% | −0.08 |
| MPWR Monolithic Power Systems Inc. | Reduce -21.6% | 0.08% | −0.08 |
| GIB Cgi Inc. | Reduce -11.7% | 0.38% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -1.4% | 0.44% | −0.07 |
| IVW iShares S&P 500 Growth ETF | Reduce -96.1% | 0.00% | −0.07 |
| SU Suncor Energy Inc. | Reduce -4.6% | 0.75% | −0.07 |
| ABT Abbott Laboratories | Reduce -14.6% | 0.35% | −0.07 |
| IMO Imperial Oil Ltd. | Reduce -12.1% | 0.21% | −0.06 |
| TRI Thomson Reuters Corp. | Reduce -19.2% | 0.20% | −0.06 |
| IYC iShares US Consumer Discreti | Sold out | 0.00% | −0.06 |
| LOW Lowe's Cos Inc. | Reduce -9.6% | 0.29% | −0.06 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -12.3% | 0.19% | −0.06 |
| IYF iShares US Financials ETF | Reduce -86.7% | 0.01% | −0.06 |
| PBA Pembina Pipeline Corp. | Reduce -46.6% | 0.05% | −0.06 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -96.4% | 0.00% | −0.06 |
| BCE Bce Inc. | Reduce -20.1% | 0.07% | −0.06 |
| QUAL iShares MSCI USA Quality Fac | Sold out | 0.00% | −0.06 |
| NEE Nextera Energy Inc. | Reduce -21.2% | 0.12% | −0.06 |
| ATS Ats Corp. | Reduce -77.2% | 0.02% | −0.05 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -30.6% | 0.09% | −0.05 |
| CB Chubb Ltd. | Reduce -22.4% | 0.14% | −0.05 |
| RCI Rogers Communications Inc. Class B | Reduce -5.2% | 0.13% | −0.05 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -28.9% | 0.08% | −0.05 |
| EWA iShares MSCI Australia ETF | Sold out | 0.00% | −0.05 |
| OTEX Open Text Corp. | Reduce -14.9% | 0.12% | −0.05 |
| ORCL Oracle Corp. | Reduce -5.1% | 0.54% | −0.05 |
| LPLA LPL Financial Holdings Inc. | Reduce -55.7% | 0.07% | −0.04 |
| MLM Martin Marietta Materials | Reduce -71.9% | 0.02% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -2.9% | 0.33% | −0.04 |
| XPO Xpo Inc. | Reduce -84.4% | 0.01% | −0.04 |
| ALGM Allegro Microsystems Inc. | Reduce -95.3% | 0.00% | −0.04 |
| FCX Freeport-McMoran Inc. | Reduce -5.2% | 0.10% | −0.04 |
| IWM iShares Russell 2000 ETF | Reduce -96.7% | 0.00% | −0.04 |
| IGF iShares Global Infrastructur | Reduce -39.3% | 0.05% | −0.04 |
| IEMG iShares Core MSCI Emerging | Reduce -28.3% | 0.07% | −0.04 |
Portfolio Buys Q3 2024 → Q4 2024
| GOOGL Alphabet Inc. Class A | Add +1.5% | 2.69% | +0.35 |
| WDAY Workday Inc. Class A | Add +60.7% | 0.84% | +0.34 |
| AAPL Apple Inc. | Add +2.4% | 4.00% | +0.34 |
| NVDA Nvidia Corp. | Add +2.3% | 2.82% | +0.31 |
| TSLA Tesla Inc. | Add +7.3% | 0.70% | +0.27 |
| ADBE Adobe Inc. | Add +225.9% | 0.42% | +0.27 |
| LNG Cheniere Energy Inc. | Add +4.5% | 1.07% | +0.21 |
| BMO Bank of Montreal | Add +42.7% | 0.58% | +0.20 |
| UNH Unitedhealth Group Inc. | Add +35.5% | 0.95% | +0.13 |
| PYPL PayPal Holdings Inc. | Add +71.3% | 0.23% | +0.10 |
| NSC Norfolk Southern Corp. | Add +293.6% | 0.14% | +0.10 |
| TIP iShares Tips Bond ETF | Add +3416.0% | 0.10% | +0.09 |
| FWONK Liberty Media Corp. Class C | Add +3.8% | 0.50% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +68.0% | 0.26% | +0.09 |
| INDA iShares MSCI India ETF | Add +207.6% | 0.14% | +0.09 |
| ICLR Icon PLC | Add +2566.6% | 0.09% | +0.08 |
| MBLY Mobileye Global Inc. Class A | Add +4.6% | 0.25% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +29.3% | 0.33% | +0.08 |
| POST Post Holdings Inc. | Add +403.1% | 0.10% | +0.08 |
| QQQ Invesco QQQ Trust Series 1 | Add +441.5% | 0.09% | +0.08 |
| GOOG Alphabet Inc. Class C | Add +1.1% | 0.61% | +0.08 |
| BND Vanguard Total Bond Market | Add +15.8% | 0.81% | +0.07 |
| LULU Lululemon Athletica Inc. | Add +11.4% | 0.20% | +0.07 |
| IWO iShares Russell 2000 Growth | New | 0.07% | +0.07 |
| JHCP Jhancock Core Plus Bond ETF | New | 0.07% | +0.07 |
| EPAM Epam Systems Inc. | Add +719.2% | 0.08% | +0.07 |
| MA Mastercard Inc. Class A | Add +17.5% | 0.34% | +0.07 |
| COR Cencora Inc. | Add +67.7% | 0.17% | +0.07 |
| MRVL Marvell Technology Inc. | Add +30.6% | 0.13% | +0.07 |
| DELL Dell Technologies -C | Add +362.4% | 0.08% | +0.06 |
| WFC Wells Fargo & Co. | Add +0.5% | 0.32% | +0.06 |
| WBD Warner Bros Discovery Inc. | Add +7.9% | 0.22% | +0.06 |
| DIS The Walt Disney Co. | Add +3.4% | 0.36% | +0.06 |
| MTN Vail Resorts Inc. | Add +42.1% | 0.16% | +0.05 |
| PCAR Paccar Inc. | Add +162.2% | 0.09% | +0.05 |
| GIL Gildan Activewear Inc. | Add +276.9% | 0.07% | +0.05 |
| NFLX Netflix Inc. | Add +1.4% | 0.25% | +0.05 |
| CM Can Imperial BK of Commerce | Add +26.5% | 0.22% | +0.05 |
| CSCO Cisco Systems Inc. | Add +8.2% | 0.31% | +0.05 |
| AON Aon PLC Class A | Add +15.2% | 0.31% | +0.05 |
| APO Apollo Global Management Inc. | Add +553.3% | 0.05% | +0.05 |
| TLT iShares 20+ Year Treasury BD | Add +119.8% | 0.10% | +0.05 |
| BN Brookfield Corp. | Add +1.1% | 0.60% | +0.05 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +389.6% | 0.06% | +0.05 |
| BDX Becton Dickinson and Co. | Add +28.2% | 0.28% | +0.05 |
| NDAQ Nasdaq Inc. | Add +5.1% | 0.47% | +0.04 |
| MDT Medtronic PLC | Add +33.0% | 0.30% | +0.04 |
| XLC SS Comm Select Sector SPDR | New | 0.04% | +0.04 |
| OMC Omnicom Group | Add +445.6% | 0.06% | +0.04 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +16.6% | 0.28% | +0.04 |
Notes & Other Activity Q3 2024 → Q4 2024
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Reduce -4.1% | 3,076,800 | $150.5M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | New | 1,406,050 | $86.6M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -0.8% | 82,260,000 | $84.7M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Reduce -0.9% | 79,150,000 | $81.2M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Add +57.6% | 75,755,000 | $75.0M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | New | 73,537,000 | $75.0M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Reduce -8.6% | 1,179,610 | $74.1M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 52,255,000 | $57.7M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Add +2515950.0% | 50,321,000 | $54.3M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Reduce -2.8% | 30,405,000 | $35.6M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Reduce -5.1% | 34,571,000 | $32.4M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | New | 550,000 | $27.5M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Reduce -13.8% | 25,550,000 | $27.1M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Reduce -42.1% | 637,761 | $26.3M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | Reduce -5.3% | 14,350,000 | $25.4M |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | Reduce -0.3% | 14,755,000 | $22.1M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -6.7% | 15,400,000 | $20.2M |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | New | 377,950 | $17.3M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Reduce -14.8% | 10,378,000 | $9.9M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 6,500,000 | $8.6M |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Sold out | 11,000,000 | $8.2Mbefore exit |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Add +12.5% | 4,500,000 | $4.5M |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | Reduce -47.8% | 4,179,000 | $4.1M |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Reduce -6.8% | 3,450,000 | $3.4M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -11.1% | 1,600,000 | $1.6M |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | Sold out | 19,011 | $1.2Mbefore exit |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | New | 1,000,000 | $996K |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | Add +3.8% | 28,567 | $778K |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | Add +48.7% | 14,866 | $725K |
| EQUITY COMMONWEALTH (EQC 6.5 PERP D) | 6.5% CNV PFD D | Sold out | 26,104 | $659Kbefore exit |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +23.4% | 16,471 | $405K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 2,825 | $126.6B | MSFT, NVDA, AMZN, GOOGL, AAPL |
| Q1 2026 | 2,760 | $115.0B | MSFT, NVDA, AMZN, GOOGL, AAPL |
| Q4 2025 | 2,800 | $120.4B | MSFT, NVDA, AMZN, AAPL, GOOGL |
| Q3 2025 | 2,850 | $120.5B | MSFT, NVDA, AMZN, AAPL, GOOGL |
| Q2 2025 | 2,854 | $110.7B | MSFT, AMZN, NVDA, AAPL, GOOGL |
| Q1 2025 | 2,840 | $104.4B | AAPL, MSFT, AMZN, NVDA, GOOGL |
| Q4 2024 | 2,917 | $113.8B | AAPL, AMZN, MSFT, NVDA, GOOGL |
| Q3 2024 | 2,948 | $113.0B | AAPL, MSFT, AMZN, NVDA, GOOGL |
| Q2 2024 | 2,943 | $106.6B | MSFT, AAPL, AMZN, NVDA, GOOGL |
| Q1 2024 | 2,931 | $107.4B | MSFT, AMZN, AAPL, GOOGL, NVDA |