Millennium Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Israel Englander's Millennium Management reported 3,923 stock positions worth $134.7 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 7.4% of the portfolio, followed by Walmart (WMT, 3.4%) and Nvidia (NVDA, 2.1%). Compared with Q3 2025, it opened 443 new positions, sold out of 361, added to 1,578 and reduced 1,863. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +93%) and the biggest sale Nvidia (NVDA, shares −17%).
- Most Recent 13F
- Q2 2026
- Notable People
- Israel Englander
- Location
- NEW YORK, NY
- CIK
- 0001273087
- Portfolio Value
- $134.7B (Q4 2025)
- SEC Filing
- 0001273087-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 3,923 stocks · $134.7B
| IVV iShares Core S&P 500 ETF | 7.37% | 14,494,278 | $9.9B | Add +93.3% |
| WMT Walmart Inc. | 3.37% | 40,777,563 | $4.5B | Add +1001.5% |
| NVDA Nvidia Corp. | 2.11% | 15,233,619 | $2.8B | Reduce -16.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.85% | 3,647,038 | $2.5B | Add +135.4% |
| IBIT iShares Bitcoin Trust ETF | 1.27% | 34,333,524 | $1.7B | Add +67.3% |
| AVGO Broadcom Inc. | 1.14% | 4,445,154 | $1.5B | Add +145.7% |
| AAPL Apple Inc. | 1.00% | 4,950,847 | $1.3B | Reduce -29.4% |
| NSC Norfolk Southern Corp. | 0.89% | 4,150,431 | $1.2B | Add +56.9% |
| MSFT Microsoft Corp. | 0.82% | 2,291,238 | $1.1B | Reduce -33.3% |
| BSX Boston Scientific Corp. | 0.76% | 11,264,790 | $1.0B | Add +32.1% |
| CYBR Cyberark Software Ltd./Israel | 0.68% | 2,047,671 | $913.4M | Add +108.0% |
| EA Electronic Arts Inc. | 0.64% | 4,195,119 | $857.2M | Add +397.6% |
| ISRG Intuitive Surgical Inc. | 0.63% | 1,486,953 | $842.2M | Add +469.8% |
| GOOGL Alphabet Inc. Class A | 0.62% | 2,684,166 | $840.1M | Reduce -25.3% |
| AMZN Amazon.com Inc. | 0.62% | 3,634,426 | $838.9M | Reduce -3.0% |
| FCX Freeport-McMoran Inc. | 0.60% | 15,937,003 | $809.4M | Add +28.8% |
| GOOG Alphabet Inc. Class C | 0.58% | 2,503,303 | $785.5M | Reduce -25.7% |
| WBD Warner Bros Discovery Inc. | 0.55% | 25,610,999 | $738.1M | Add +418.9% |
| META Meta Platforms Inc. Class A | 0.54% | 1,109,432 | $732.3M | Reduce -19.7% |
| MRK Merck & Co. Inc. | 0.53% | 6,800,351 | $715.8M | Add +790.8% |
| NVT Nvent Electric PLC | 0.46% | 6,133,892 | $625.5M | Add +24.0% |
| JPM JPMorgan Chase & Co. | 0.42% | 1,750,028 | $563.9M | Add +25.5% |
| ETHA iShares Ethereum Trust ETF | 0.42% | 25,089,335 | $562.8M | Reduce -26.0% |
| FBTC Fidelity Wise Origin Bitcoin | 0.41% | 7,293,130 | $556.0M | Reduce -2.1% |
| BLK BlackRock Inc. | 0.40% | 508,120 | $543.9M | Add +43.6% |
| EW Edwards Lifesciences Corp. | 0.39% | 6,080,938 | $518.4M | Add +241.7% |
| SPGI S&P Global Inc. | 0.38% | 984,479 | $514.5M | Add +46.9% |
| FE Firstenergy Corp. | 0.38% | 11,374,600 | $509.2M | Add +45.0% |
| CG The Carlyle Group Inc. | 0.37% | 8,340,531 | $493.0M | Add +69.2% |
| DHR Danaher Corp. | 0.35% | 2,046,427 | $468.5M | Add +120.6% |
| MRVL Marvell Technology Inc. | 0.35% | 5,484,932 | $466.1M | Add +573.9% |
| V Visa Inc. Class A | 0.34% | 1,287,815 | $451.6M | Add +7.1% |
| UNH Unitedhealth Group Inc. | 0.33% | 1,351,111 | $446.0M | Add +648.6% |
| C Citigroup Inc. | 0.30% | 3,499,976 | $408.4M | Add +43.7% |
| GM General Motors Co. | 0.30% | 5,022,079 | $408.4M | Reduce -8.6% |
| MS Morgan Stanley | 0.30% | 2,275,184 | $403.9M | Reduce -35.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.29% | 1,280,169 | $389.0M | Add +84.6% |
| ICE Intercontinental Exchange Inc. | 0.29% | 2,393,506 | $387.7M | Add +54.4% |
| PKG Packaging Corp. of America | 0.28% | 1,824,807 | $376.3M | Add +20.3% |
| KVUE Kenvue Inc. | 0.28% | 21,800,563 | $376.1M | Add +334.3% |
| LIN Linde PLC | 0.28% | 874,784 | $373.0M | Add +52.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.27% | 596,910 | $366.7M | Add +64.8% |
| IVZ Invesco Ltd. | 0.27% | 13,882,786 | $364.7M | Add +7.9% |
| SCHW Schwab (charles) Corp. | 0.27% | 3,625,894 | $362.3M | Reduce -15.8% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | 0.27% | 107,500,000 | $361.1M | Add +514.3% |
| LLY Eli Lilly & Co. | 0.27% | 334,858 | $359.9M | Add +11.5% |
| SNDK Sandisk Corp. | 0.26% | 1,499,139 | $355.9M | Add +31.4% |
| DTE DTE Energy Company | 0.26% | 2,729,226 | $352.0M | Add +227.4% |
| EXAS Exact Sciences Corp. | 0.26% | 3,441,516 | $349.5M | Add +55.2% |
| URI United Rentals Inc. | 0.25% | 423,510 | $342.8M | Add +378.1% |
| BA The Boeing Co. | 0.25% | 1,561,459 | $339.0M | Reduce -16.8% |
| LNG Cheniere Energy Inc. | 0.24% | 1,695,774 | $329.6M | Add +16.0% |
| DY Dycom Industries Inc. | 0.24% | 973,180 | $328.8M | Reduce -26.6% |
| COF Capital One Financial Corp. | 0.24% | 1,355,146 | $328.4M | Reduce -2.1% |
| CVX Chevron Corp. | 0.24% | 2,151,249 | $327.9M | Add +6.3% |
| GTLS Chart Industries Inc. | 0.24% | 1,586,588 | $327.2M | Add +94.9% |
| PG The Procter & Gamble Co. | 0.24% | 2,278,388 | $326.5M | Add +28.1% |
| MU Micron Technology Inc. | 0.23% | 1,093,398 | $312.1M | Add +36.0% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.22% | 4,404,578 | $296.8M | Add +2332.5% |
| REGN Regeneron Pharmaceuticals | 0.22% | 379,768 | $293.1M | Add +88.9% |
| TPG TPG Inc. | 0.22% | 4,584,733 | $292.7M | Add +66.9% |
| BALL Ball Corp. | 0.22% | 5,516,445 | $292.2M | Add +487.8% |
| ROST Ross Stores Inc. | 0.22% | 1,614,858 | $290.9M | Reduce -12.7% |
| NFLX Netflix Inc. | 0.21% | 3,056,387 | $286.6M | Add +81.3% |
| STEP Stepstone Group Inc. Class A | 0.21% | 4,456,150 | $286.0M | Add +14.4% |
| MDT Medtronic PLC | 0.21% | 2,975,488 | $285.8M | Reduce -38.1% |
| WFC Wells Fargo & Co. | 0.21% | 3,052,580 | $284.5M | Add +81.9% |
| FYBR Frontier Communications Pare | 0.21% | 7,455,387 | $283.8M | Add +48.3% |
| MSCI MSCI Inc. | 0.21% | 485,967 | $278.8M | Add +45.5% |
| CVS CVS Health Corp. | 0.20% | 3,464,096 | $274.9M | Reduce -35.6% |
| B Barrick Mining Corp. | 0.20% | 6,287,372 | $273.8M | Reduce -31.6% |
| PCG P G & E Corp. | 0.20% | 16,804,595 | $270.0M | Add +140.3% |
| VRT Vertiv Holdings Co. Class A | 0.20% | 1,655,245 | $268.2M | Add +151.9% |
| USB US Bancorp | 0.20% | 4,976,979 | $265.6M | Reduce -12.9% |
| HON Honeywell International Inc. | 0.19% | 1,339,184 | $261.3M | Add +17.4% |
| HOLX Hologic Inc. | 0.19% | 3,500,016 | $260.7M | Add +19.9% |
| HD Home Depot Inc. | 0.19% | 752,052 | $258.8M | Add +67.0% |
| DOV Dover Corp. | 0.19% | 1,322,901 | $258.3M | Add +149.8% |
| RAL Ralliant Corp. | 0.19% | 4,973,001 | $253.2M | Add +172.4% |
| COST Costco Wholesale Corp. | 0.19% | 291,896 | $251.7M | Reduce -12.1% |
| SU Suncor Energy Inc. | 0.18% | 5,478,063 | $243.1M | Add +151.7% |
| AMP Ameriprise Financial Inc. | 0.18% | 493,941 | $242.2M | Add +20.3% |
| CMA Comerica Inc. | 0.18% | 2,785,209 | $242.1M | Reduce -10.4% |
| AMAT Applied Materials Inc. | 0.18% | 931,841 | $239.5M | Add +182.8% |
| FHN First Horizon Corp. | 0.17% | 9,817,089 | $234.6M | Add +54.6% |
| COHR Coherent Corp. | 0.17% | 1,262,260 | $233.0M | Add +23.1% |
| AMG Affiliated Managers Group | 0.17% | 796,010 | $229.5M | Reduce -21.7% |
| PYPL PayPal Holdings Inc. | 0.17% | 3,926,164 | $229.2M | Add +141.6% |
| INSM Insmed Inc. | 0.17% | 1,311,654 | $228.3M | Reduce -43.9% |
| HII Huntington Ingalls Industrie | 0.17% | 666,448 | $226.6M | Add +49.2% |
| MUSA Murphy USA Inc. | 0.17% | 560,625 | $226.2M | Reduce -23.8% |
| AON Aon PLC Class A | 0.17% | 636,922 | $224.8M | Add +28.3% |
| XLF SS Financial Select Sector | 0.17% | 4,093,451 | $224.2M | Add +102.5% |
| OVV Ovintiv Inc. | 0.17% | 5,692,806 | $223.1M | Add +118.4% |
| DAR Darling Ingredients Inc. | 0.17% | 6,175,256 | $222.3M | Add +458.9% |
| TSN Tyson Foods Inc. Class A | 0.16% | 3,788,221 | $222.1M | Add +212.5% |
| AZN Astrazeneca PLC-Spons ADR | 0.16% | 2,396,943 | $220.4M | Add +7.6% |
| SRE Sempra | 0.16% | 2,467,150 | $217.8M | Reduce -33.5% |
| LIVN Livanova PLC | 0.16% | 3,484,082 | $214.4M | Add +17.3% |
| TMUS T-Mobile US Inc. | 0.16% | 1,055,525 | $214.3M | Add +45.3% |
Options reported separately and not counted above: IWM puts ($7.6B), QQQ puts ($5.4B), NVDA puts ($4.4B), IWM calls ($3.9B), AAPL puts ($2.5B), QQQ calls ($2.2B), AMZN puts ($2.2B), META puts ($2.1B), MSFT puts ($2.1B), SPY puts ($1.9B), GOOGL puts ($1.7B), XLF puts ($1.5B), and 1871 more.
Other holdings (144): bonds, preferreds, convertibles and warrants · $4.6B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 200,082,000 | $918.1M | Add +10.6% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 201,427,000 | $313.1M | Reduce -3.5% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 55,650,000 | $296.1M | Add +185.4% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 74,720,000 | $212.1M | Add +198.9% |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 74,000,000 | $169.8M | Add +11.4% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 37,260,000 | $124.8M | Reduce -35.4% |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 75,178,000 | $101.3M | Add +9.1% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 53,211,000 | $89.6M | New |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 35,000,000 | $89.1M | New |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 65,500,000 | $83.5M | Reduce -7.1% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 79,264,000 | $79.1M | Add +3.3% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 53,010,000 | $75.2M | Add +10.4% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 62,790,000 | $60.9M | Reduce -43.0% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 60,000,000 | $56.5M | Add +41.2% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 55,500,000 | $55.4M | Reduce -44.9% |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | 62,731,000 | $52.4M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 50,000,000 | $51.9M | Add +53.9% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 28,665,000 | $48.7M | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 50,305,000 | $48.6M | No change |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 47,250,000 | $48.5M | Add +61.5% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 47,485,000 | $47.1M | Add +3.2% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 12,510,000 | $46.4M | New |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 47,569,000 | $46.0M | No change |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 46,318,000 | $45.9M | Reduce -13.1% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 25,000,000 | $41.1M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 21,000,000 | $39.6M | Add +110.0% |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 40,000,000 | $39.4M | Add +86.0% |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 32,500,000 | $38.0M | Reduce -80.2% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 32,500,000 | $37.1M | No change |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 32,692,000 | $36.7M | Add +10.8% |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 32,475,000 | $32.8M | Add +116.5% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 25,704,000 | $32.3M | Reduce -58.0% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 30,550,000 | $30.7M | Add +24.4% |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 24,000,000 | $30.3M | Add +14.3% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 21,700,000 | $29.8M | New |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 28,000,000 | $28.8M | No change |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 26,600,000 | $28.8M | New |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 28,000,000 | $28.0M | Add +12.0% |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | 23,400,000 | $27.2M | Reduce -10.7% |
| CALLAWAY GOLF CO (CALY 2.75 05/01/26) | NOTE 2.750% 5/0 · principal | 26,800,000 | $26.7M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 19,923,000 | $26.5M | Reduce -77.5% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 25,000,000 | $25.8M | No change |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | 22,525,000 | $25.4M | New |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 24,000,000 | $24.8M | Add +11.6% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 20,000,000 | $24.7M | Reduce -13.0% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 15,500,000 | $24.6M | New |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 23,000,000 | $22.8M | Reduce -62.9% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 15,750,000 | $22.5M | Add +21.1% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 16,500,000 | $22.0M | New |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 21,842,000 | $21.7M | Add +86.7% |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 390,004 | $21.3M | New |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 21,500,000 | $20.4M | Add +4.9% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 13,000,000 | $20.1M | No change |
| HERTZ CORP/THE (HTZ 8 07/15/29) | NOTE 8.000% 7/1 · principal | 16,719,999 | $19.1M | Reduce -10.7% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 20,000,000 | $19.0M | New |
| ASTRONICS CORP (ATRO 5.5 03/15/30) | NOTE 5.500% 3/1 · principal | 7,203,000 | $18.5M | New |
| CENTRUS ENERGY CORP (LEU 2.25 11/01/30) | NOTE 2.250%11/0 · principal | 6,850,000 | $18.4M | New |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 20,000,000 | $17.9M | Reduce -42.4% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 17,500,000 | $16.8M | Reduce -30.0% |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 21,350,000 | $16.8M | New |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 16,778,000 | $16.6M | No change |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 16,200,000 | $15.4M | Add +48.7% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 13,300,000 | $15.2M | Reduce -50.7% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 15,878,000 | $14.7M | No change |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 15,000,000 | $14.6M | Reduce -65.9% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 14,000,000 | $14.4M | Reduce -30.0% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 203,939 | $14.2M | Reduce -42.3% |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 13,828,000 | $13.9M | Add +1.8% |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 13,000,000 | $13.7M | No change |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 16,600,000 | $13.6M | New |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 12,000,000 | $13.3M | No change |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 11,300,000 | $12.5M | New |
| RAMACO RESOURCES INC (METC 0 11/01/31) | NOTE 11/0 · principal | 14,775,000 | $12.5M | New |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 13,250,000 | $12.0M | Reduce -15.9% |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 10,721,000 | $11.3M | New |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 10,500,000 | $10.4M | Reduce -32.3% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 10,750,000 | $10.4M | New |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 5,000,000 | $10.2M | New |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 9,900,000 | $10.1M | Reduce -34.0% |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | 12,200,000 | $9.9M | Reduce -6.2% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 10,760,000 | $9.7M | New |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 10,425,000 | $9.1M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 7,500,000 | $8.7M | Reduce -83.2% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 9,000,000 | $8.7M | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 7,500,000 | $8.5M | New |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 8,141,000 | $8.0M | Reduce -79.5% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 8,019,000 | $8.0M | Reduce -67.3% |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 8,000,000 | $7.9M | No change |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | 5,900,000 | $7.5M | New |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 7,000,000 | $7.2M | New |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 4,575,000 | $6.8M | Reduce -84.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 6,644,000 | $6.6M | Reduce -46.9% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 6,000,000 | $6.5M | New |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 5,815,000 | $6.3M | New |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | 5,000,000 | $6.0M | Reduce -37.5% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 6,500,000 | $5.8M | New |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 5,435,000 | $5.4M | New |
| CLEANSPARK INC (CLSK 0 06/15/30) | NOTE 6/1 · principal | 5,275,000 | $5.4M | New |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | 100,207 | $5.0M | New |
| VERITONE INC (VERI 1.75 11/15/26) | NOTE 1.750%11/1 · principal | 5,250,000 | $4.9M | No change |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 4,000,000 | $4.0M | No change |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 3,270,000 | $3.2M | No change |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 627,445 | $2.8M | Add +26.6% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 2,500,000 | $2.7M | New |
| FASTLY INC (FSLY 0 03/15/26) | NOTE 3/1 · principal | 2,760,000 | $2.7M | Reduce -83.8% |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 2,500,000 | $2.5M | No change |
| COGENT BIOSCIENCES INC (COGT 1.625 11/15/31) | NOTE 1.625%11/1 · principal | 2,000,000 | $2.3M | New |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | 1,135,000 | $2.3M | Add +740.7% |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | NOTE 3.750% 6/3 · principal | 1,050,000 | $1.8M | Reduce -90.5% |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 5,500,000 | $1.6M | Reduce -58.6% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,300,000 | $1.3M | Reduce -90.2% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 1,250,000 | $1.2M | New |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 1,000,000 | $1.1M | New |
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | 375,000 | $1.0M | New |
| CELCUITY INC (CELC 2.75 08/01/31) | NOTE 2.750% 8/0 · principal | 350,000 | $759K | Reduce -90.1% |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 650,000 | $708K | Reduce -90.2% |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 150,000 | $524K | No change |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 200,000 | $493K | New |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 1,300,000 | $416K | No change |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 345,000 | $380K | New |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 799,862 | $302K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 995,000 | $249K | No change |
| DYNAVAX TECHNOLOGIES CORP | DEBT 2.000% 3/1 · principal | 225,000 | $235K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 700,000 | $231K | No change |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 1,500,000 | $210K | Reduce -25.0% |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 641,000 | $208K | Reduce -13.4% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 290,000 | $206K | No change |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 602,600 | $195K | Reduce -6.9% |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 150,000 | $162K | New |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 400,000 | $160K | No change |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | 700,000 | $147K | No change |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | 504,930 | $126K | New |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 631,000 | $126K | Add +40.7% |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 595,006 | $116K | Add +53.7% |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 645,000 | $113K | Reduce -7.9% |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 698,947 | $112K | Reduce -0.1% |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 450,000 | $108K | No change |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | 513,750 | $108K | Add +2.8% |
| PSNYW Polestar Auto Class C-1 ADS | ADS CL C-1 | 16,350 | $104K | No change |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 220,000 | $68K | New |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 499,700 | $65K | No change |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 150,000 | $38K | Reduce -54.0% |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | 150,000 | $19K | No change |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 10,000 | $12K | Reduce -99.6% |
Total filed on the 13F, all lines: $139.2B.
Portfolio Sells Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Reduce -16.6% | 2.11% | −0.69 |
| MSFT Microsoft Corp. | Reduce -33.3% | 0.82% | −0.64 |
| AAPL Apple Inc. | Reduce -29.4% | 1.00% | −0.47 |
| ETHA iShares Ethereum Trust ETF | Reduce -26.0% | 0.42% | −0.46 |
| ABBV Abbvie Inc. | Reduce -99.0% | 0.00% | −0.38 |
| BAC Bank of America Corp. | Reduce -76.2% | 0.10% | −0.33 |
| META Meta Platforms Inc. Class A | Reduce -19.7% | 0.54% | −0.29 |
| SOXX iShares Semiconductor ETF | Reduce -99.8% | 0.00% | −0.23 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.23 |
| NEM Newmont Corp. | Reduce -94.4% | 0.01% | −0.22 |
| CRH CRH PLC | Reduce -58.7% | 0.14% | −0.22 |
| JHG Janus Henderson Group PLC | Reduce -87.4% | 0.03% | −0.22 |
| MPC Marathon Petroleum Corp. | Reduce -90.3% | 0.02% | −0.22 |
| NBIS Nebius Group NV | Reduce -95.9% | 0.01% | −0.22 |
| K Kellanova | Sold out | 0.00% | −0.21 |
| LPLA LPL Financial Holdings Inc. | Reduce -71.1% | 0.08% | −0.21 |
| MCD McDonald's Corp. | Reduce -85.2% | 0.03% | −0.20 |
| FIX Comfort Systems USA Inc. | Reduce -82.6% | 0.04% | −0.20 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -2.1% | 0.41% | −0.20 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -64.0% | 0.09% | −0.19 |
| CAH Cardinal Health Inc. | Reduce -79.6% | 0.06% | −0.19 |
| CSX CSX Corp. | Reduce -92.4% | 0.01% | −0.19 |
| CNP Centerpoint Energy Inc. | Reduce -99.2% | 0.00% | −0.18 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -86.3% | 0.02% | −0.18 |
| PEG Public Service Enterprise GP | Reduce -93.5% | 0.01% | −0.18 |
| ARES Ares Management Corp. Class A | Reduce -99.1% | 0.00% | −0.18 |
| TMO Thermo Fisher Scientific Inc. | Reduce -89.5% | 0.02% | −0.18 |
| ARGX Argenx SE - ADR | Reduce -82.6% | 0.04% | −0.17 |
| SEE Sealed Air Corp. | Reduce -96.2% | 0.01% | −0.17 |
| RJF Raymond James Financial Inc. | Reduce -79.9% | 0.03% | −0.17 |
| MDT Medtronic PLC | Reduce -38.1% | 0.21% | −0.16 |
| FSLR First Solar Inc. | Reduce -83.1% | 0.04% | −0.16 |
| NEE Nextera Energy Inc. | Reduce -97.9% | 0.00% | −0.16 |
| MS Morgan Stanley | Reduce -35.4% | 0.30% | −0.16 |
| COR Cencora Inc. | Reduce -62.0% | 0.09% | −0.16 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −0.16 |
| ABNB Airbnb Inc. Class A | Reduce -90.0% | 0.02% | −0.15 |
| FDN First Trust DJ Internet Ind | Sold out | 0.00% | −0.15 |
| ETH Grayscale Ethereum Staking M | Sold out | 0.00% | −0.15 |
| MNST Monster Beverage Corp. | Reduce -87.8% | 0.02% | −0.14 |
| STX Seagate Technology Holdings | Reduce -89.5% | 0.02% | −0.13 |
| DD Dupont DE Nemours Inc. | Reduce -95.7% | 0.00% | −0.13 |
| CVS CVS Health Corp. | Reduce -35.6% | 0.20% | −0.13 |
| SYY Sysco Corp. | Reduce -47.7% | 0.09% | −0.13 |
| INFY Infosys Ltd.-SP ADR | Reduce -95.8% | 0.01% | −0.12 |
| MMM 3M Co. | Reduce -71.9% | 0.04% | −0.12 |
| SF Stifel Financial Corp. | Reduce -89.3% | 0.01% | −0.12 |
| VRSK Verisk Analytics Inc. | Reduce -88.0% | 0.01% | −0.12 |
| CAT Caterpillar Inc. | Reduce -75.5% | 0.04% | −0.12 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.12 |
Portfolio Buys Q3 2025 → Q4 2025
| IVV iShares Core S&P 500 ETF | Add +93.3% | 7.37% | +3.26 |
| WMT Walmart Inc. | Add +1001.5% | 3.37% | +3.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +135.4% | 1.85% | +1.00 |
| AVGO Broadcom Inc. | Add +145.7% | 1.14% | +0.65 |
| ISRG Intuitive Surgical Inc. | Add +469.8% | 0.63% | +0.53 |
| EA Electronic Arts Inc. | Add +397.6% | 0.64% | +0.50 |
| MRK Merck & Co. Inc. | Add +790.8% | 0.53% | +0.48 |
| WBD Warner Bros Discovery Inc. | Add +418.9% | 0.55% | +0.47 |
| MRVL Marvell Technology Inc. | Add +573.9% | 0.35% | +0.29 |
| CYBR Cyberark Software Ltd./Israel | Add +108.0% | 0.68% | +0.29 |
| UNH Unitedhealth Group Inc. | Add +648.6% | 0.33% | +0.28 |
| EW Edwards Lifesciences Corp. | Add +241.7% | 0.39% | +0.27 |
| NSC Norfolk Southern Corp. | Add +56.9% | 0.89% | +0.24 |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | Add +514.3% | 0.27% | +0.23 |
| KVUE Kenvue Inc. | Add +334.3% | 0.28% | +0.21 |
| IFF Intl Flavors & Fragrances | Add +2332.5% | 0.22% | +0.21 |
| FCX Freeport-McMoran Inc. | Add +28.8% | 0.60% | +0.20 |
| DHR Danaher Corp. | Add +120.6% | 0.35% | +0.20 |
| URI United Rentals Inc. | Add +378.1% | 0.25% | +0.19 |
| BALL Ball Corp. | Add +487.8% | 0.22% | +0.18 |
| IBIT iShares Bitcoin Trust ETF | Add +67.3% | 1.27% | +0.17 |
| DTE DTE Energy Company | Add +227.4% | 0.26% | +0.16 |
| EXAS Exact Sciences Corp. | Add +55.2% | 0.26% | +0.16 |
| SNDK Sandisk Corp. | Add +31.4% | 0.26% | +0.16 |
| WAT Waters Corp. | Add +2281.7% | 0.15% | +0.15 |
| OTIS Otis Worldwide Corp. | Add +1047.0% | 0.15% | +0.14 |
| DAR Darling Ingredients Inc. | Add +458.9% | 0.17% | +0.14 |
| D Dominion Energy Inc. | Add +3693.4% | 0.14% | +0.14 |
| TSM Taiwan Semiconductor-SP ADR | Add +84.6% | 0.29% | +0.13 |
| IWB iShares Russell 1000 ETF | New | 0.13% | +0.13 |
| REGN Regeneron Pharmaceuticals | Add +88.9% | 0.22% | +0.13 |
| JAZZ Jazz Pharmaceuticals PLC | Add +346.9% | 0.15% | +0.12 |
| RAL Ralliant Corp. | Add +172.4% | 0.19% | +0.12 |
| AMAT Applied Materials Inc. | Add +182.8% | 0.18% | +0.12 |
| MU Micron Technology Inc. | Add +36.0% | 0.23% | +0.12 |
| BSX Boston Scientific Corp. | Add +32.1% | 0.76% | +0.12 |
| DOV Dover Corp. | Add +149.8% | 0.19% | +0.12 |
| VRT Vertiv Holdings Co. Class A | Add +151.9% | 0.20% | +0.12 |
| SPGI S&P Global Inc. | Add +46.9% | 0.38% | +0.11 |
| RNAM Avidity Biosciences Inc. | Add +7182.4% | 0.12% | +0.11 |
| PCG P G & E Corp. | Add +140.3% | 0.20% | +0.11 |
| CG The Carlyle Group Inc. | Add +69.2% | 0.37% | +0.11 |
| TSN Tyson Foods Inc. Class A | Add +212.5% | 0.16% | +0.11 |
| VRTX Vertex Pharmaceuticals Inc. | Add +791.0% | 0.12% | +0.11 |
| IT Gartner Inc. | Add +5982.2% | 0.11% | +0.11 |
| GTLS Chart Industries Inc. | Add +94.9% | 0.24% | +0.11 |
| PEN Penumbra Inc. | Add +190.5% | 0.16% | +0.11 |
| TTD Trade Desk Inc./the Class A | Add +776.9% | 0.13% | +0.11 |
| SU Suncor Energy Inc. | Add +151.7% | 0.18% | +0.11 |
| ORCL Oracle Corp. | Add +538.9% | 0.14% | +0.11 |
Options Activity Q3 2025 → Q4 2025
| IWM iShares Russell 2000 ETF | put | Add +1.1% | 30,678,500 | $7.6B |
| QQQ Invesco QQQ Trust Series 1 | put | Add +27.3% | 8,722,600 | $5.4B |
| NVDA Nvidia Corp. | put | Reduce -24.9% | 23,513,200 | $4.4B |
| IWM iShares Russell 2000 ETF | call | Add +6.5% | 15,680,700 | $3.9B |
| AAPL Apple Inc. | put | Add +1.3% | 9,012,900 | $2.5B |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -49.1% | 3,652,200 | $2.2B |
| AMZN Amazon.com Inc. | put | Reduce -13.5% | 9,441,500 | $2.2B |
| META Meta Platforms Inc. Class A | put | Add +27.4% | 3,166,200 | $2.1B |
| MSFT Microsoft Corp. | put | Reduce -30.7% | 4,260,200 | $2.1B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +74.3% | 2,722,000 | $1.9B |
| GOOGL Alphabet Inc. Class A | put | Add +1.5% | 5,439,400 | $1.7B |
| XLF SS Financial Select Sector | put | Reduce -6.2% | 27,048,800 | $1.5B |
| TSLA Tesla Inc. | put | Reduce -16.5% | 2,911,400 | $1.3B |
| AAPL Apple Inc. | call | Reduce -13.4% | 4,612,200 | $1.3B |
| NVDA Nvidia Corp. | call | Reduce -20.4% | 6,526,500 | $1.2B |
| AVGO Broadcom Inc. | put | Reduce -4.9% | 3,032,500 | $1.0B |
| EEM iShares MSCI Emerging Market | put | Reduce -36.5% | 17,637,200 | $964.9M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -37.3% | 11,660,000 | $940.1M |
| META Meta Platforms Inc. Class A | call | Add +4.1% | 1,365,900 | $901.6M |
| AMD Advanced Micro Devices | put | Reduce -15.4% | 4,207,700 | $901.1M |
| GOOG Alphabet Inc. Class C | put | Add +23.7% | 2,743,100 | $860.8M |
| XLE SS Energy Select Sector | put | Reduce -17.9% | 18,975,300 | $848.4M |
| MSFT Microsoft Corp. | call | Reduce -45.5% | 1,569,100 | $758.8M |
| AMZN Amazon.com Inc. | call | Reduce -23.7% | 3,181,100 | $734.3M |
| TSLA Tesla Inc. | call | Reduce -36.5% | 1,586,900 | $713.7M |
| AVGO Broadcom Inc. | call | Reduce -4.9% | 1,745,300 | $604.0M |
| DIA SS SPDR Dow Jones Indus Avg | put | Reduce -49.0% | 1,175,000 | $564.7M |
| GOOGL Alphabet Inc. Class A | call | Add +33.2% | 1,755,000 | $549.3M |
| XLY SS Consumer Disc Select Sect | put | Reduce -16.9% | 4,565,600 | $545.2M |
| XOM Exxon Mobil Corp. | put | Add +25.7% | 4,470,500 | $538.0M |
| LLY Eli Lilly & Co. | put | Add +13.2% | 488,200 | $524.7M |
| PLTR Palantir Technologies Inc. Class A | put | Add +2.8% | 2,900,200 | $515.5M |
| MA Mastercard Inc. Class A | put | Add +21.5% | 874,600 | $499.3M |
| BRK.B Berkshire Hathaway Inc. Class B | put | Add +8.9% | 992,000 | $498.6M |
| XLK SS Technology Select Sector | put | Reduce -3.9% | 2,979,800 | $429.0M |
| XLU St Sr Utl SL SE SPDR ETF-Usd | put | Reduce -2.0% | 9,893,600 | $422.4M |
| ORCL Oracle Corp. | put | Add +114.6% | 2,135,600 | $416.2M |
| GOOG Alphabet Inc. Class C | call | Add +17.7% | 1,322,800 | $415.1M |
| MU Micron Technology Inc. | put | Add +27.9% | 1,403,400 | $400.5M |
| NFLX Netflix Inc. | put | Reduce -45.6% | 4,169,900 | $391.0M |
| STT State Street Corp. | call | Add +7830.0% | 3,013,400 | $388.8M |
| JPM JPMorgan Chase & Co. | put | Add +8.1% | 1,173,900 | $378.3M |
| EFA iShares MSCI Eafe ETF | put | Add +6.6% | 3,895,000 | $374.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +266.3% | 525,300 | $358.2M |
| CRM Salesforce Inc. | put | Reduce -11.9% | 1,341,100 | $355.3M |
| SMH Vaneck Semiconductor ETF | put | Add +15.5% | 968,800 | $348.9M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Sold out | 3,075,000 | $342.8Mbefore exit |
| QCOM Qualcomm Inc. | put | Add +33.5% | 1,975,100 | $337.8M |
| SMH Vaneck Semiconductor ETF | call | Add +37.5% | 933,000 | $336.0M |
| V Visa Inc. Class A | put | Add +8.0% | 938,800 | $329.2M |
Showing the first 50 of 1,984.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +10.6% | 200,082,000 | $918.1M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -3.5% | 201,427,000 | $313.1M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Add +185.4% | 55,650,000 | $296.1M |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Sold out | 63,428,000 | $287.7Mbefore exit |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Sold out | 129,602,000 | $256.1Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +198.9% | 74,720,000 | $212.1M |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Add +11.4% | 74,000,000 | $169.8M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Reduce -35.4% | 37,260,000 | $124.8M |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | Add +9.1% | 75,178,000 | $101.3M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | New | 53,211,000 | $89.6M |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | New | 35,000,000 | $89.1M |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | Reduce -7.1% | 65,500,000 | $83.5M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Add +3.3% | 79,264,000 | $79.1M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Add +10.4% | 53,010,000 | $75.2M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Sold out | 59,128,000 | $67.8Mbefore exit |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Reduce -43.0% | 62,790,000 | $60.9M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 60,218,000 | $59.8Mbefore exit |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Add +41.2% | 60,000,000 | $56.5M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Reduce -44.9% | 55,500,000 | $55.4M |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | New | 62,731,000 | $52.4M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +53.9% | 50,000,000 | $51.9M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Sold out | 33,553,000 | $51.0Mbefore exit |
| IMAX CORP (IMAX 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | Sold out | 41,946,000 | $49.6Mbefore exit |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Add +61.5% | 47,250,000 | $48.5M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Sold out | 45,800,000 | $48.2Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Add +3.2% | 47,485,000 | $47.1M |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | New | 12,510,000 | $46.4M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | Sold out | 45,000,000 | $46.3Mbefore exit |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | Reduce -13.1% | 46,318,000 | $45.9M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | New | 25,000,000 | $41.1M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Add +110.0% | 21,000,000 | $39.6M |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | Add +86.0% | 40,000,000 | $39.4M |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | Reduce -80.2% | 32,500,000 | $38.0M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +10.8% | 32,692,000 | $36.7M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Sold out | 35,500,000 | $35.2Mbefore exit |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | Sold out | 34,894,000 | $34.6Mbefore exit |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | Add +116.5% | 32,475,000 | $32.8M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Reduce -58.0% | 25,704,000 | $32.3M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +24.4% | 30,550,000 | $30.7M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | Add +14.3% | 24,000,000 | $30.3M |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | New | 21,700,000 | $29.8M |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 26,600,000 | $28.8M |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Add +12.0% | 28,000,000 | $28.0M |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | Reduce -10.7% | 23,400,000 | $27.2M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -77.5% | 19,923,000 | $26.5M |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | New | 22,525,000 | $25.4M |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Add +11.6% | 24,000,000 | $24.8M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Reduce -13.0% | 20,000,000 | $24.7M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | New | 15,500,000 | $24.6M |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | Sold out | 26,067,000 | $24.6Mbefore exit |
Showing the first 50 of 159.
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 | 3,648 | $142.5B | IVV, SPY, SPCX, NVDA, NSC |
| Q1 2026 | 3,694 | $127.5B | IVV, NVDA, SPYM, NSC, WBD |
| Q4 2025 | 3,923 | $134.7B | IVV, WMT, NVDA, SPY, IBIT |
| Q3 2025 | 3,844 | $122.0B | IVV, NVDA, AAPL, MSFT, IBIT |
| Q2 2025 | 3,799 | $108.0B | IVV, IBIT, NVDA, MSFT, AMZN |
| Q1 2025 | 3,778 | $99.5B | IVV, NVDA, META, AMZN, IBIT |
| Q4 2024 | 3,892 | $111.9B | IVV, AVGO, IBIT, META, NVDA |
| Q3 2024 | 3,901 | $111.3B | SPY, IVV, MSFT, NVDA, SPOT |
| Q2 2024 | 3,767 | $117.2B | IVV, AAPL, AMZN, SPY, NVDA |
| Q1 2024 | 3,942 | $113.8B | SPY, IVV, AMZN, MRK, AAPL |