Manufacturers Life Insurance Company, The
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Manufacturers Life Insurance Company, The reported 2,854 stock positions worth $110.7 billion. Its top holding was Microsoft (MSFT) at 4.1% of the portfolio, followed by Amazon.com (AMZN, 3.2%) and Nvidia (NVDA, 3.1%). Compared with Q1 2025, it opened 146 new positions, sold out of 133, added to 1,036 and reduced 1,649. The biggest buy was Hologic (HOLX, shares +294%) and the biggest sale Apple (AAPL, shares −11%).
- Most Recent 13F
- Q2 2026
- Location
- CANADA, A6
- CIK
- 0000928047
- Portfolio Value
- $110.7B (Q2 2025)
- SEC Filing
- 0001145443-25-000239 ↗ filed Aug 14, 2025
Holdings Value
Holdings 2,854 stocks · $110.7B
| MSFT Microsoft Corp. | 4.10% | 9,119,660 | $4.5B | Reduce -6.5% |
| AMZN Amazon.com Inc. | 3.23% | 16,304,973 | $3.6B | Reduce -9.3% |
| NVDA Nvidia Corp. | 3.13% | 21,923,154 | $3.5B | Reduce -5.8% |
| AAPL Apple Inc. | 2.85% | 15,378,387 | $3.2B | Reduce -10.6% |
| GOOGL Alphabet Inc. Class A | 2.40% | 15,097,707 | $2.7B | Reduce -5.0% |
| META Meta Platforms Inc. Class A | 1.19% | 1,777,195 | $1.3B | Reduce -5.2% |
| AVGO Broadcom Inc. | 1.18% | 4,735,046 | $1.3B | Add +4.5% |
| LNG Cheniere Energy Inc. | 1.14% | 5,183,798 | $1.3B | Reduce -3.5% |
| LLY Eli Lilly & Co. | 1.09% | 1,546,478 | $1.2B | Reduce -2.9% |
| RY Royal Bank of Canada | 0.94% | 7,918,400 | $1.0B | Reduce -4.3% |
| TD Toronto-Dominion Bank | 0.91% | 13,815,706 | $1.0B | Add +0.8% |
| BND Vanguard Total Bond Market | 0.87% | 13,131,333 | $966.9M | Add +3.1% |
| TMO Thermo Fisher Scientific Inc. | 0.84% | 2,293,264 | $929.8M | Add +58.2% |
| KKR KKR & Co. Inc. | 0.82% | 6,793,097 | $903.7M | Reduce -12.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.82% | 1,858,099 | $902.6M | Add +6.5% |
| CNQ Canadian Natural Resources | 0.77% | 27,359,777 | $855.4M | Add +10.3% |
| WDAY Workday Inc. Class A | 0.77% | 3,528,959 | $847.0M | Reduce -5.6% |
| ORCL Oracle Corp. | 0.74% | 3,765,062 | $823.2M | Reduce -8.8% |
| ELV Elevance Health Inc. | 0.73% | 2,076,668 | $807.7M | Add +30.7% |
| CRM Salesforce Inc. | 0.73% | 2,945,661 | $803.3M | Add +13.1% |
| SU Suncor Energy Inc. | 0.70% | 20,911,602 | $779.8M | Add +3.2% |
| ADI Analog Devices Inc. | 0.70% | 3,238,265 | $770.8M | Reduce -0.2% |
| JPM JPMorgan Chase & Co. | 0.68% | 2,604,636 | $755.1M | Reduce -2.5% |
| TSLA Tesla Inc. | 0.66% | 2,313,091 | $734.8M | Reduce -3.7% |
| LEN Lennar Corp. Class A | 0.66% | 6,636,441 | $734.1M | Reduce -25.4% |
| V Visa Inc. Class A | 0.66% | 2,056,012 | $730.0M | Add +20.7% |
| ENB Enbridge Inc. | 0.65% | 16,066,888 | $724.9M | Add +0.2% |
| HOLX Hologic Inc. | 0.65% | 11,022,455 | $718.2M | Add +294.3% |
| VOO Vanguard S&P 500 ETF | 0.64% | 1,247,587 | $708.7M | Add +3.5% |
| CNI Canadian Natl Railway Co. | 0.63% | 6,705,679 | $695.0M | Add +26.6% |
| TXN Texas Instruments Inc. | 0.61% | 3,240,855 | $672.9M | Reduce -3.4% |
| ADBE Adobe Inc. | 0.60% | 1,728,969 | $668.9M | Reduce -8.8% |
| MS Morgan Stanley | 0.59% | 4,667,050 | $657.4M | Reduce -33.1% |
| CP Canadian Pacific Kansas City | 0.59% | 8,219,835 | $649.6M | Add +17.2% |
| SHOP Shopify Inc. Class A | 0.57% | 5,488,562 | $630.7M | Reduce -11.0% |
| UNH Unitedhealth Group Inc. | 0.56% | 1,984,371 | $619.1M | Reduce -9.4% |
| GS Goldman Sachs Group Inc. | 0.56% | 869,720 | $615.5M | Reduce -19.3% |
| MCK McKesson Corp. | 0.56% | 839,690 | $615.3M | Add +34.1% |
| URI United Rentals Inc. | 0.55% | 804,751 | $606.3M | Reduce -5.3% |
| FWONK Liberty Media Corp. Class C | 0.53% | 5,638,208 | $589.2M | Reduce -6.2% |
| GOOG Alphabet Inc. Class C | 0.53% | 3,302,846 | $585.9M | Reduce -8.7% |
| VEA Vanguard Ftse Developed ETF | 0.53% | 10,270,231 | $585.5M | Add +24.0% |
| SLF Sun Life Financial Inc. | 0.50% | 8,355,498 | $553.1M | Reduce -2.6% |
| NDAQ Nasdaq Inc. | 0.49% | 6,107,057 | $546.1M | Reduce -7.6% |
| ABBV Abbvie Inc. | 0.49% | 2,916,325 | $541.3M | Add +8.9% |
| MDT Medtronic PLC | 0.48% | 6,155,810 | $536.6M | Add +7.8% |
| JHEM John Hancock Multi Em MRK Et | 0.47% | 17,907,902 | $522.7M | Reduce -5.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.47% | 7,354,644 | $519.3M | Add +130.2% |
| WMT Walmart Inc. | 0.47% | 5,267,866 | $515.1M | Reduce -8.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.46% | 4,126,016 | $511.7M | Reduce -12.1% |
| SYK Stryker Corp. | 0.45% | 1,271,247 | $502.9M | Add +7.5% |
| JNJ Johnson & Johnson | 0.43% | 3,130,149 | $478.1M | Reduce -7.6% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.43% | 6,901,509 | $474.3M | Reduce -4.5% |
| DHR Danaher Corp. | 0.42% | 2,376,853 | $469.5M | Add +24.6% |
| KLAC KLA Corp. | 0.42% | 520,731 | $466.4M | Add +0.5% |
| CSCO Cisco Systems Inc. | 0.42% | 6,671,579 | $462.9M | Reduce -18.4% |
| WCN Waste Connections Inc. | 0.41% | 2,443,177 | $454.3M | Add +2.2% |
| NFLX Netflix Inc. | 0.40% | 327,339 | $438.3M | Reduce -2.0% |
| MA Mastercard Inc. Class A | 0.39% | 758,559 | $426.3M | Add +17.2% |
| ABT Abbott Laboratories | 0.34% | 2,807,844 | $381.9M | Reduce -5.2% |
| AEM Agnico Eagle Mines Ltd. | 0.34% | 3,215,919 | $381.4M | Reduce -11.3% |
| GIB Cgi Inc. | 0.34% | 3,636,386 | $379.9M | Add +1.0% |
| XOM Exxon Mobil Corp. | 0.34% | 3,506,254 | $378.0M | Reduce -3.4% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.33% | 3,349,980 | $369.3M | Reduce -44.9% |
| AZO AutoZone Inc. | 0.33% | 99,046 | $367.7M | Add +13.5% |
| IVV iShares Core S&P 500 ETF | 0.33% | 585,855 | $363.8M | Add +127.6% |
| PM Philip Morris International | 0.32% | 1,974,016 | $359.5M | Reduce -1.1% |
| VYM Vanguard High DVD Yield ETF | 0.32% | 2,683,539 | $357.7M | Add +13.3% |
| STN Stantec Inc. | 0.32% | 3,287,695 | $355.9M | Reduce -23.7% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.32% | 4,410,956 | $350.7M | Add +62.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.32% | 7,399,325 | $350.1M | Reduce -11.0% |
| CCI Crown Castle Inc. | 0.31% | 3,354,581 | $344.6M | Reduce -44.3% |
| LOW Lowe's Cos Inc. | 0.31% | 1,546,061 | $343.0M | Add +13.6% |
| LIN Linde PLC | 0.31% | 728,434 | $341.8M | Reduce -14.2% |
| BKNG Booking Holdings Inc. | 0.31% | 58,483 | $338.6M | Add +42.5% |
| LMT Lockheed Martin Corp. | 0.31% | 730,480 | $338.3M | Reduce -2.3% |
| CMCSA Comcast Corp. Class A | 0.30% | 9,371,927 | $334.5M | Reduce -0.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.29% | 1,437,982 | $325.7M | Reduce -9.3% |
| JHMD John Hancock MF Dev Intl ETF | 0.29% | 8,503,434 | $325.4M | Reduce -10.9% |
| COR Cencora Inc. | 0.29% | 1,061,784 | $318.4M | Add +12.9% |
| PG The Procter & Gamble Co. | 0.29% | 1,990,642 | $317.2M | Reduce -0.6% |
| FNV Franco-Nevada Corp. | 0.28% | 1,900,526 | $310.6M | Reduce -4.0% |
| COST Costco Wholesale Corp. | 0.28% | 308,997 | $305.9M | Add +0.5% |
| NTR Nutrien Ltd. | 0.27% | 5,246,421 | $304.3M | Reduce -20.0% |
| MRSH Marsh & McLennan Cos | 0.27% | 1,341,359 | $293.3M | Add +79.3% |
| GILD Gilead Sciences Inc. | 0.26% | 2,623,932 | $290.9M | Reduce -3.5% |
| WPM Wheaton Precious Metals Corp. | 0.26% | 3,230,338 | $289.2M | Reduce -0.1% |
| WFC Wells Fargo & Co. | 0.26% | 3,602,762 | $288.7M | Reduce -14.1% |
| HD Home Depot Inc. | 0.25% | 767,020 | $281.2M | Add +0.3% |
| AMGN Amgen Inc. | 0.25% | 1,005,582 | $280.8M | Reduce -5.6% |
| INTU Intuit Inc. | 0.25% | 355,651 | $280.1M | Add +55.9% |
| WBD Warner Bros Discovery Inc. | 0.24% | 23,466,809 | $268.9M | Reduce -4.9% |
| BRO Brown & Brown Inc. | 0.23% | 2,344,254 | $259.9M | Reduce -1.5% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.23% | 801,588 | $256.6M | Reduce -9.4% |
| EBAY eBay Inc. | 0.23% | 3,408,416 | $253.8M | Reduce -2.4% |
| SYY Sysco Corp. | 0.23% | 3,317,234 | $251.2M | Reduce -16.1% |
| FHB First Hawaiian Inc. | 0.23% | 10,050,904 | $250.9M | Reduce -4.2% |
| CI The Cigna Group | 0.22% | 752,125 | $248.6M | Reduce -0.8% |
| MU Micron Technology Inc. | 0.22% | 2,010,415 | $247.8M | Reduce -5.1% |
| BN Brookfield Corp. | 0.22% | 3,988,658 | $246.2M | Reduce -35.2% |
Other holdings (50): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 3,586,600 | $158.8M | Reduce -0.2% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 81,180,000 | $88.1M | Reduce -0.1% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 59,563 | $70.1M | Reduce -3.8% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 59,340,000 | $65.6M | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 63,400,000 | $63.9M | Reduce -26.1% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 1,057,610 | $62.5M | Reduce -6.1% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 42,735 | $52.0M | No change |
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | 37,845,000 | $49.2M | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 36,350,000 | $46.1M | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 580,150 | $39.6M | Reduce -50.0% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 32,396,000 | $30.2M | Add +0.5% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 33,400,000 | $29.9M | Reduce -5.7% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 27,500,000 | $27.2M | Reduce -4.2% |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 400,000 | $24.6M | New |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 631,600 | $23.9M | Add +13.3% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 12,500,000 | $22.5M | Add +19.1% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 20,000,000 | $21.4M | Add +23.5% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 18,050,000 | $18.8M | New |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 14,195,000 | $18.4M | Add +0.2% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 15,100,000 | $17.9M | Add +62.4% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 12,150,000 | $17.4M | No change |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 14,600,000 | $17.3M | Reduce -5.2% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 9,200,000 | $16.6M | Reduce -9.8% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 13,000,000 | $12.2M | Reduce -3.7% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 8,500,000 | $11.0M | New |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 10,378,000 | $10.2M | No change |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 252,090 | $10.0M | No change |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 138,320 | $7.4M | Reduce -79.4% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 6,200,000 | $7.4M | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 153,500 | $7.3M | No change |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 8,700,000 | $7.2M | Reduce -10.3% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 4,900,000 | $5.2M | Add +25.6% |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 4,179,000 | $4.1M | No change |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 3,750,000 | $3.6M | No change |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 2,200,000 | $2.5M | Reduce -18.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 2,500,000 | $2.4M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 2,000,000 | $1.9M | No change |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 1,700,000 | $1.7M | Reduce -37.0% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 1,600,000 | $1.6M | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 1,700,000 | $1.5M | Reduce -5.6% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 1,250,000 | $1.2M | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 1,000,000 | $991K | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 1,000,000 | $973K | Add +25.0% |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 26,008 | $811K | Reduce -5.9% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 750,000 | $727K | No change |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 13,224 | $612K | Reduce -4.8% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 500,000 | $507K | No change |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 6,169 | $373K | Reduce -4.7% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 14,938 | $353K | Reduce -3.7% |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 · principal | 17,659 | $156K | No change |
Total filed on the 13F, all lines: $111.8B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -10.6% | 2.85% | −0.81 |
| UNH Unitedhealth Group Inc. | Reduce -9.4% | 0.56% | −0.54 |
| LEN Lennar Corp. Class A | Reduce -25.4% | 0.66% | −0.31 |
| CCI Crown Castle Inc. | Reduce -44.3% | 0.31% | −0.29 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -99.9% | 0.00% | −0.25 |
| BMO Bank of Montreal | Reduce -44.9% | 0.33% | −0.23 |
| UNP Union Pacific Corp. | Reduce -69.1% | 0.08% | −0.21 |
| MS Morgan Stanley | Reduce -33.1% | 0.59% | −0.19 |
| LLY Eli Lilly & Co. | Reduce -2.9% | 1.09% | −0.17 |
| BDX Becton Dickinson and Co. | Reduce -65.6% | 0.05% | −0.15 |
| PYPL PayPal Holdings Inc. | Reduce -60.7% | 0.09% | −0.13 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.12 |
| NVR NVR Inc. | Reduce -89.2% | 0.01% | −0.11 |
| MRK Merck & Co. Inc. | Reduce -21.8% | 0.21% | −0.11 |
| JNJ Johnson & Johnson | Reduce -7.6% | 0.43% | −0.11 |
| PCAR Paccar Inc. | Reduce -38.4% | 0.14% | −0.11 |
| ADBE Adobe Inc. | Reduce -8.8% | 0.60% | −0.09 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -35.0% | 0.19% | −0.09 |
| BN Brookfield Corp. | Reduce -35.2% | 0.22% | −0.09 |
| MCD McDonald's Corp. | Reduce -27.2% | 0.15% | −0.08 |
| IYJ iShares U.S. Industrials ETF | Sold out | 0.00% | −0.08 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -98.7% | 0.00% | −0.08 |
| PH Parker Hannifin Corp. | Reduce -58.3% | 0.06% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -3.4% | 0.34% | −0.07 |
| WDAY Workday Inc. Class A | Reduce -5.6% | 0.77% | −0.07 |
| LIN Linde PLC | Reduce -14.2% | 0.31% | −0.07 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -99.4% | 0.00% | −0.07 |
| NSC Norfolk Southern Corp. | Reduce -60.0% | 0.05% | −0.07 |
| CSCO Cisco Systems Inc. | Reduce -18.4% | 0.42% | −0.07 |
| AMGN Amgen Inc. | Reduce -5.6% | 0.25% | −0.06 |
| OMC Omnicom Group | Reduce -85.7% | 0.01% | −0.06 |
| REGN Regeneron Pharmaceuticals | Reduce -4.7% | 0.18% | −0.06 |
| FTS Fortis Inc. | Reduce -40.2% | 0.09% | −0.06 |
| AJG Arthur J Gallagher & Co. | Reduce -9.4% | 0.23% | −0.06 |
| RCI Rogers Communications Inc. Class B | Reduce -66.0% | 0.03% | −0.06 |
| SYY Sysco Corp. | Reduce -16.1% | 0.23% | −0.06 |
| FIS Fidelity National Info Serv | Reduce -28.8% | 0.15% | −0.06 |
| DKS Dick's Sporting Goods Inc. | Reduce -85.9% | 0.01% | −0.06 |
| IYF iShares US Financials ETF | Reduce -34.4% | 0.11% | −0.05 |
| CL Colgate-Palmolive Co. | Reduce -42.2% | 0.06% | −0.05 |
| WRB WR Berkley Corp. | Reduce -25.6% | 0.14% | −0.05 |
| LNG Cheniere Energy Inc. | Reduce -3.5% | 1.14% | −0.05 |
| DTE DTE Energy Company | Reduce -46.6% | 0.05% | −0.05 |
| BRO Brown & Brown Inc. | Reduce -1.5% | 0.23% | −0.05 |
| TFII Tfi International Inc. | Reduce -65.5% | 0.03% | −0.05 |
| CVX Chevron Corp. | Reduce -3.9% | 0.16% | −0.05 |
| KKR KKR & Co. Inc. | Reduce -12.6% | 0.82% | −0.04 |
| AMZN Amazon.com Inc. | Reduce -9.3% | 3.23% | −0.04 |
| EWI iShares MSCI Italy ETF | Sold out | 0.00% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -0.6% | 0.29% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| HOLX Hologic Inc. | Add +294.3% | 0.65% | +0.48 |
| AVGO Broadcom Inc. | Add +4.5% | 1.18% | +0.45 |
| CM Can Imperial BK of Commerce | Add +130.2% | 0.47% | +0.30 |
| IVV iShares Core S&P 500 ETF | Add +127.6% | 0.33% | +0.19 |
| MCK McKesson Corp. | Add +34.1% | 0.56% | +0.15 |
| TMO Thermo Fisher Scientific Inc. | Add +58.2% | 0.84% | +0.15 |
| DEO Diageo PLC-Sponsored ADR | Add +72871.7% | 0.14% | +0.14 |
| IVW iShares S&P 500 Growth ETF | Add +329.5% | 0.17% | +0.13 |
| CNI Canadian Natl Railway Co. | Add +26.6% | 0.63% | +0.13 |
| VEA Vanguard Ftse Developed ETF | Add +24.0% | 0.53% | +0.13 |
| BKNG Booking Holdings Inc. | Add +42.5% | 0.31% | +0.12 |
| TD Toronto-Dominion Bank | Add +0.8% | 0.91% | +0.12 |
| MCHP Microchip Technology Inc. | Add +582.0% | 0.14% | +0.12 |
| INTU Intuit Inc. | Add +55.9% | 0.25% | +0.12 |
| CP Canadian Pacific Kansas City | Add +17.2% | 0.59% | +0.11 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +62.0% | 0.32% | +0.11 |
| GSK GSK PLC-Spon ADR | Add +275.5% | 0.15% | +0.10 |
| KMX Carmax Inc. | Add +795.5% | 0.11% | +0.10 |
| MRSH Marsh & McLennan Cos | Add +79.3% | 0.27% | +0.09 |
| V Visa Inc. Class A | Add +20.7% | 0.66% | +0.09 |
| KLAC KLA Corp. | Add +0.5% | 0.42% | +0.08 |
| ELV Elevance Health Inc. | Add +30.7% | 0.73% | +0.07 |
| IEMG iShares Core MSCI Emerging | Add +112.5% | 0.11% | +0.06 |
| CLS Celestica Inc. | Add +2.5% | 0.13% | +0.06 |
| AME Ametek Inc. | Add +277.1% | 0.08% | +0.06 |
| UPS United Parcel Service Class B | Add +130.4% | 0.12% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | Add +2.5% | 0.16% | +0.06 |
| CRM Salesforce Inc. | Add +13.1% | 0.73% | +0.06 |
| IWO iShares Russell 2000 Growth | New | 0.06% | +0.06 |
| BAM Brookfield Asset Mgmt-A | Add +25.5% | 0.21% | +0.05 |
| IEF iShares 7-10 Year Treasury B | Add +5080.3% | 0.05% | +0.05 |
| AON Aon PLC Class A | Add +142.0% | 0.10% | +0.05 |
| DHR Danaher Corp. | Add +24.6% | 0.42% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +3.5% | 0.64% | +0.05 |
| MA Mastercard Inc. Class A | Add +17.2% | 0.39% | +0.05 |
| BTSG Brightspring Health Services | Add +936.4% | 0.05% | +0.04 |
| AMRZ Amrize Ltd. | New | 0.04% | +0.04 |
| DE Deere & Co. | Add +30.6% | 0.17% | +0.04 |
| GE General Electric | Add +3.9% | 0.20% | +0.04 |
| IYM iShares U.S. Basic Materials | New | 0.04% | +0.04 |
| ON On Semiconductor | Add +260.8% | 0.05% | +0.04 |
| CNQ Canadian Natural Resources | Add +10.3% | 0.77% | +0.04 |
| COR Cencora Inc. | Add +12.9% | 0.29% | +0.04 |
| COIN Coinbase Global Inc. Class A | Add +974.4% | 0.04% | +0.04 |
| GIL Gildan Activewear Inc. | Add +24.3% | 0.16% | +0.04 |
| VOX Vanguard Communication Servi | Add +204.6% | 0.05% | +0.04 |
| MC Moelis & Co. Class A | Add +1161.8% | 0.04% | +0.03 |
| ICLR Icon PLC | Add +83.2% | 0.11% | +0.03 |
| VGK Vanguard Ftse Europe ETF | Add +62.6% | 0.08% | +0.03 |
| SYK Stryker Corp. | Add +7.5% | 0.45% | +0.03 |
Notes & Other Activity Q1 2025 → Q2 2025
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | Reduce -0.2% | 3,586,600 | $158.8M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Reduce -0.1% | 81,180,000 | $88.1M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -3.8% | 59,563 | $70.1M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | New | 59,340,000 | $65.6M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -26.1% | 63,400,000 | $63.9M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Sold out | 51,790,000 | $63.3Mbefore exit |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Reduce -6.1% | 1,057,610 | $62.5M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Sold out | 50,401,000 | $51.1Mbefore exit |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Sold out | 49,835,000 | $50.1Mbefore exit |
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | New | 37,845,000 | $49.2M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 36,350,000 | $46.1M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -50.0% | 580,150 | $39.6M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Add +0.5% | 32,396,000 | $30.2M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -5.7% | 33,400,000 | $29.9M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Sold out | 28,575,000 | $28.6Mbefore exit |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -4.2% | 27,500,000 | $27.2M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Sold out | 10,500,000 | $25.8Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 25,550,000 | $25.4Mbefore exit |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 25,000,000 | $25.0Mbefore exit |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | New | 400,000 | $24.6M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Add +13.3% | 631,600 | $23.9M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +19.1% | 12,500,000 | $22.5M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +23.5% | 20,000,000 | $21.4M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | New | 18,050,000 | $18.8M |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | Add +0.2% | 14,195,000 | $18.4M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Add +62.4% | 15,100,000 | $17.9M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -5.2% | 14,600,000 | $17.3M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Reduce -9.8% | 9,200,000 | $16.6M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Reduce -3.7% | 13,000,000 | $12.2M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | New | 8,500,000 | $11.0M |
| BURLINGTON STORES INC (BURL 2.25 04/15/25) | NOTE 2.250% 4/1 · principal | Sold out | 8,550,000 | $9.3Mbefore exit |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Sold out | 8,100,000 | $9.1Mbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Reduce -79.4% | 138,320 | $7.4M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | New | 6,200,000 | $7.4M |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | Reduce -10.3% | 8,700,000 | $7.2M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +25.6% | 4,900,000 | $5.2M |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | Reduce -18.5% | 2,200,000 | $2.5M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Sold out | 2,000,000 | $1.9Mbefore exit |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Reduce -37.0% | 1,700,000 | $1.7M |
| HUBSPOT INC (HUBS 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | Sold out | 777,000 | $1.6Mbefore exit |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Reduce -5.6% | 1,700,000 | $1.5M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | New | 1,000,000 | $991K |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Add +25.0% | 1,000,000 | $973K |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | Reduce -5.9% | 26,008 | $811K |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | Reduce -4.8% | 13,224 | $612K |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 500,000 | $597Kbefore exit |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | Reduce -4.7% | 6,169 | $373K |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Reduce -3.7% | 14,938 | $353K |
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 |