Millennium Management
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Israel Englander's Millennium Management reported 3,694 stock positions worth $127.5 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 6.7% of the portfolio, followed by Nvidia (NVDA, 1.4%) and Ste STR SPDR PT S&P 500 ETF (SPYM, 1.3%). Compared with Q4 2025, it opened 393 new positions, sold out of 614, added to 1,619 and reduced 1,631. The biggest buy was a new position in Ste STR SPDR PT S&P 500 ETF (SPYM) and the biggest sale Walmart (WMT, shares −98%).
- Most Recent 13F
- Q2 2026
- Notable People
- Israel Englander
- Location
- NEW YORK, NY
- CIK
- 0001273087
- Portfolio Value
- $127.5B (Q1 2026)
- SEC Filing
- 0001273087-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 3,694 stocks · $127.5B
| IVV iShares Core S&P 500 ETF | 6.65% | 12,985,806 | $8.5B | Reduce -10.4% |
| NVDA Nvidia Corp. | 1.45% | 10,585,647 | $1.8B | Reduce -30.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.29% | 21,566,182 | $1.7B | New |
| NSC Norfolk Southern Corp. | 1.03% | 4,584,086 | $1.3B | Add +10.4% |
| WBD Warner Bros Discovery Inc. | 0.95% | 43,939,392 | $1.2B | Add +71.6% |
| AAPL Apple Inc. | 0.93% | 4,668,333 | $1.2B | Reduce -5.7% |
| META Meta Platforms Inc. Class A | 0.90% | 2,004,892 | $1.1B | Add +80.7% |
| MSFT Microsoft Corp. | 0.81% | 2,798,177 | $1.0B | Add +22.1% |
| EA Electronic Arts Inc. | 0.68% | 4,275,528 | $871.7M | Add +1.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.59% | 2,232,887 | $754.6M | Add +74.4% |
| FCX Freeport-McMoran Inc. | 0.58% | 12,667,694 | $744.6M | Reduce -20.5% |
| IBIT iShares Bitcoin Trust ETF | 0.58% | 19,287,318 | $741.0M | Reduce -43.8% |
| SNDK Sandisk Corp. | 0.57% | 1,142,295 | $725.7M | Reduce -23.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.55% | 14,269,820 | $695.7M | Add +486.5% |
| AVGO Broadcom Inc. | 0.52% | 2,151,004 | $665.8M | Reduce -51.6% |
| MS Morgan Stanley | 0.52% | 3,997,261 | $657.8M | Add +75.7% |
| BLK BlackRock Inc. | 0.48% | 641,558 | $617.0M | Add +26.3% |
| VOO Vanguard S&P 500 ETF | 0.48% | 1,016,744 | $607.6M | Add +100468.1% |
| MRVL Marvell Technology Inc. | 0.47% | 6,112,977 | $605.5M | Add +11.4% |
| TSLA Tesla Inc. | 0.46% | 1,572,603 | $584.6M | Add +341.5% |
| AMZN Amazon.com Inc. | 0.46% | 2,806,889 | $584.6M | Reduce -22.8% |
| CBRE CBRE Group Inc. Class A | 0.46% | 4,294,149 | $581.7M | Add +355.0% |
| KVUE Kenvue Inc. | 0.43% | 31,801,263 | $548.3M | Add +45.9% |
| C Citigroup Inc. | 0.43% | 4,809,646 | $545.5M | Add +37.4% |
| AEP American Electric Power | 0.43% | 4,151,358 | $544.2M | Add +200.4% |
| MU Micron Technology Inc. | 0.43% | 1,605,077 | $542.3M | Add +46.8% |
| XLF SS Financial Select Sector | 0.42% | 10,731,301 | $529.8M | Add +162.2% |
| NVT Nvent Electric PLC | 0.42% | 4,478,152 | $529.7M | Reduce -27.0% |
| IVZ Invesco Ltd. | 0.41% | 21,648,675 | $525.8M | Add +55.9% |
| FE Firstenergy Corp. | 0.41% | 10,194,994 | $516.5M | Reduce -10.4% |
| GOOG Alphabet Inc. Class C | 0.40% | 1,781,986 | $511.2M | Reduce -28.8% |
| GOOGL Alphabet Inc. Class A | 0.38% | 1,663,187 | $478.3M | Reduce -38.0% |
| CTRA Coterra Energy Inc. | 0.35% | 12,730,854 | $447.4M | Add +542.1% |
| HOLX Hologic Inc. | 0.34% | 5,651,225 | $427.2M | Add +61.5% |
| ISRG Intuitive Surgical Inc. | 0.33% | 910,292 | $419.6M | Reduce -38.8% |
| SPGI S&P Global Inc. | 0.33% | 984,438 | $418.7M | Reduce 0.0% |
| LNG Cheniere Energy Inc. | 0.32% | 1,451,265 | $411.8M | Reduce -14.4% |
| MA Mastercard Inc. Class A | 0.32% | 817,074 | $408.3M | Add +204.7% |
| HBAN Huntington Bancshares Inc. | 0.32% | 25,947,023 | $406.1M | Add +986.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.32% | 622,922 | $405.1M | Reduce -82.9% |
| BMY Bristol-Myers Squibb Co. | 0.31% | 6,545,442 | $397.0M | Add +780.2% |
| IEX Idex Corp. | 0.30% | 1,995,944 | $378.3M | Add +87.6% |
| UNH Unitedhealth Group Inc. | 0.29% | 1,356,610 | $367.1M | Add +0.4% |
| BP BP PLC-Spons ADR | 0.29% | 7,799,720 | $366.6M | Add +99.7% |
| JPM JPMorgan Chase & Co. | 0.28% | 1,226,765 | $360.9M | Reduce -29.9% |
| PEN Penumbra Inc. | 0.28% | 1,098,136 | $360.6M | Add +62.0% |
| CVX Chevron Corp. | 0.28% | 1,732,061 | $358.4M | Reduce -19.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.28% | 618,044 | $356.7M | Add +3.5% |
| OVV Ovintiv Inc. | 0.27% | 5,856,068 | $347.6M | Add +2.9% |
| STEP Stepstone Group Inc. Class A | 0.27% | 7,173,424 | $342.3M | Add +61.0% |
| LRCX Lam Research Corp. | 0.27% | 1,588,727 | $339.4M | Add +43.3% |
| ROST Ross Stores Inc. | 0.26% | 1,550,276 | $335.8M | Reduce -4.0% |
| VLO Valero Energy Corp. | 0.26% | 1,350,674 | $333.7M | Add +1850.8% |
| GM General Motors Co. | 0.26% | 4,473,755 | $333.3M | Reduce -10.9% |
| MSCI MSCI Inc. | 0.26% | 612,159 | $330.0M | Add +26.0% |
| CG The Carlyle Group Inc. | 0.26% | 6,803,055 | $329.2M | Reduce -18.4% |
| XOM Exxon Mobil Corp. | 0.26% | 1,936,937 | $328.6M | Add +129.1% |
| PPL PPL Corp. | 0.26% | 8,586,178 | $328.0M | Add +582.3% |
| CSCO Cisco Systems Inc. | 0.26% | 4,205,969 | $326.3M | Add +339.3% |
| HWM Howmet Aerospace Inc. | 0.25% | 1,385,384 | $319.3M | Add +46.6% |
| ICE Intercontinental Exchange Inc. | 0.25% | 2,008,968 | $316.0M | Reduce -16.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.25% | 653,140 | $313.0M | Add +159.1% |
| TMUS T-Mobile US Inc. | 0.25% | 1,488,585 | $312.6M | Add +41.0% |
| WBS Webster Financial Corp. | 0.24% | 4,396,548 | $305.2M | Add +984.6% |
| AMAT Applied Materials Inc. | 0.24% | 888,907 | $303.8M | Reduce -4.6% |
| AMP Ameriprise Financial Inc. | 0.24% | 683,368 | $303.7M | Add +38.4% |
| RTX RTX Corp. | 0.23% | 1,534,350 | $296.0M | Add +188.2% |
| AMD Advanced Micro Devices | 0.23% | 1,443,561 | $293.7M | Add +57.5% |
| APH Amphenol Corp. Class A | 0.23% | 2,320,894 | $293.2M | Add +75.5% |
| FERG Ferguson Enterprises Inc. | 0.23% | 1,248,903 | $291.3M | Add +119.2% |
| NRG NRG Energy Inc. | 0.23% | 1,985,961 | $290.2M | Add +221.1% |
| LYFT LYFT Inc. Class A | 0.23% | 21,765,114 | $289.5M | Add +99.4% |
| B Barrick Mining Corp. | 0.22% | 6,986,484 | $285.0M | Add +11.1% |
| WFC Wells Fargo & Co. | 0.22% | 3,548,819 | $282.5M | Add +16.3% |
| T AT&T Inc. | 0.22% | 9,487,497 | $275.0M | Add +96.1% |
| DY Dycom Industries Inc. | 0.21% | 805,770 | $273.0M | Reduce -17.2% |
| ELV Elevance Health Inc. | 0.21% | 919,171 | $269.1M | Add +102.8% |
| TPG TPG Inc. | 0.21% | 6,613,089 | $267.9M | Add +44.2% |
| LPLA LPL Financial Holdings Inc. | 0.21% | 890,253 | $267.8M | Add +192.2% |
| XLP SS Consumer Staples Sel Sect | 0.21% | 3,226,673 | $264.5M | Add +1296.0% |
| EEM iShares MSCI Emerging Market | 0.21% | 4,629,319 | $262.9M | Add +1299.0% |
| PCG P G & E Corp. | 0.21% | 14,886,138 | $261.5M | Reduce -11.4% |
| ETHA iShares Ethereum Trust ETF | 0.20% | 16,476,113 | $260.8M | Reduce -34.3% |
| AZN Astrazeneca PLC | 0.20% | 1,302,645 | $256.9M | Add +8.7% |
| WIX Wix.com Ltd. | 0.20% | 2,850,787 | $256.8M | Add +370.5% |
| CDE Coeur Mining Inc. | 0.20% | 13,656,124 | $255.6M | Add +2371.6% |
| LLY Eli Lilly & Co. | 0.20% | 275,989 | $253.8M | Reduce -17.6% |
| DOV Dover Corp. | 0.20% | 1,214,099 | $253.1M | Reduce -8.2% |
| COF Capital One Financial Corp. | 0.20% | 1,383,390 | $252.4M | Add +2.1% |
| TLN Talen Energy Corp. | 0.20% | 787,161 | $251.3M | Add +124.7% |
| BALL Ball Corp. | 0.19% | 4,120,029 | $243.5M | Reduce -25.3% |
| KKR KKR & Co. Inc. | 0.19% | 2,622,000 | $242.5M | Add +571.7% |
| BSX Boston Scientific Corp. | 0.19% | 4,337,804 | $240.8M | Reduce -61.5% |
| JAZZ Jazz Pharmaceuticals PLC | 0.19% | 1,262,511 | $238.7M | Add +5.0% |
| MRK Merck & Co. Inc. | 0.19% | 1,970,691 | $237.1M | Reduce -71.0% |
| PKG Packaging Corp. of America | 0.19% | 1,115,665 | $236.8M | Reduce -38.9% |
| SU Suncor Energy Inc. | 0.19% | 3,579,830 | $236.5M | Reduce -34.6% |
| TW Tradeweb Markets Inc. Class A | 0.18% | 1,968,423 | $231.6M | Add +434.6% |
| CMI Cummins Inc. | 0.18% | 421,350 | $226.7M | Add +62.3% |
| ORLY O'reilly Automotive Inc. | 0.18% | 2,442,944 | $225.5M | Add +350.3% |
Options reported separately and not counted above: IWM puts ($10.0B), NVDA puts ($4.1B), QQQ puts ($3.5B), IWM calls ($3.0B), MSFT puts ($2.5B), QQQ calls ($2.3B), AMZN puts ($2.3B), AAPL puts ($2.2B), META puts ($2.1B), GOOGL puts ($1.9B), TSLA puts ($1.8B), SPY puts ($1.8B), and 1752 more.
Other holdings (164): bonds, preferreds, convertibles and warrants · $6.2B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 205,553,000 | $1.5B | Add +2.7% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 157,266,000 | $841.9M | Add +110.5% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 117,545,000 | $420.9M | Add +215.5% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 246,992,000 | $343.3M | Add +22.6% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 24,510,000 | $173.3M | Add +95.9% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 114,761,000 | $112.4M | Add +82.8% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 60,911,000 | $111.5M | Add +14.5% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 114,844,000 | $107.1M | Add +623.3% |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 106,099,000 | $106.2M | Add +226.7% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 85,836,000 | $104.4M | Add +1044.5% |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 59,250,000 | $103.8M | Reduce -19.9% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 43,000,000 | $103.6M | Add +72.0% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 73,510,000 | $103.4M | Add +38.7% |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | 35,000,000 | $92.1M | No change |
| STRATEGY INC (MSTR 0 03/01/30) | NOTE 3/0 · principal | 101,866,000 | $88.8M | New |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 65,500,000 | $88.2M | No change |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 83,594,000 | $86.8M | Add +318.0% |
| NEXTERA ENERGY INC (NEE 7.375 02/15/29) | UNIT 02/15/2029 | 1,449,980 | $73.0M | New |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 71,546,000 | $69.5M | Add +50.4% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 60,305,000 | $59.0M | Add +19.9% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 33,915,000 | $58.7M | Add +18.3% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 53,050,000 | $54.9M | Add +73.7% |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 54,318,000 | $54.2M | Add +17.3% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 24,644,000 | $44.4M | Add +17.4% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 43,019,000 | $43.0M | Add +436.5% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 35,775,000 | $42.3M | Add +682.0% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 41,585,000 | $38.7M | Reduce -12.0% |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 36,500,000 | $37.3M | Add +52.1% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 28,923,000 | $37.1M | Add +45.2% |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 41,828,000 | $36.2M | Add +202.5% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 30,000,000 | $35.2M | New |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | 30,025,000 | $34.7M | Add +33.3% |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 32,960,000 | $33.8M | Add +50.9% |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 35,500,000 | $33.7M | New |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | 675,000 | $30.9M | New |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 30,000,000 | $29.7M | New |
| ASTRONICS CORP (ATRO 5.5 03/15/30) | NOTE 5.500% 3/1 · principal | 9,503,000 | $29.2M | Add +31.9% |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | 27,400,000 | $28.9M | Add +17.1% |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 24,000,000 | $26.4M | Reduce -26.1% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 29,000,000 | $26.0M | Add +346.1% |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 30,364,000 | $25.4M | Add +82.9% |
| LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) | NOTE 1.750% 1/1 · principal | 26,200,000 | $25.4M | New |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 20,500,000 | $25.0M | Add +57.7% |
| VNET GROUP INC | NOTE 2.000%10/0 · principal | 22,000,000 | $25.0M | New |
| SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) | NOTE 3.500%12/0 · principal | 7,410,000 | $25.0M | New |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 25,000,000 | $24.8M | New |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 20,000,000 | $24.6M | Reduce -38.5% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 17,000,000 | $24.1M | Add +3.0% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 25,000,000 | $24.1M | Add +25.0% |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 19,822,000 | $23.6M | Add +240.9% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 22,500,000 | $23.4M | Reduce -10.0% |
| JOBY AVIATION INC (JOBY 0.75 02/15/32) | NOTE 0.750% 2/1 · principal | 26,100,000 | $22.4M | New |
| SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28) | NOTE 3.250%11/0 · principal | 15,000,000 | $22.2M | New |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 392,270 | $21.0M | Add +0.6% |
| CLEANSPARK INC (CLSK 0 06/15/30) | NOTE 6/1 · principal | 21,202,000 | $20.6M | Add +301.9% |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 20,000,000 | $20.0M | Reduce -50.0% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 19,000,000 | $18.2M | Reduce -41.9% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 17,250,000 | $18.2M | New |
| CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) | NOTE 2.000% 3/1 · principal | 17,500,000 | $17.8M | New |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 21,500,000 | $17.3M | Add +7.5% |
| HERTZ CORP/THE (HTZ 8 07/15/29) | NOTE 8.000% 7/1 · principal | 17,388,798 | $17.1M | Add +4.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 14,500,000 | $16.6M | Add +118.2% |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 17,925,000 | $15.9M | Reduce -16.0% |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 16,200,000 | $15.7M | No change |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 15,000,000 | $15.5M | Reduce -30.2% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 244,921 | $13.8M | New |
| SUPER MICRO COMPUTER INC (SMCI 2.25 07/15/28) | NOTE 2.250% 7/1 · principal | 15,500,000 | $13.5M | New |
| WISDOMTREE INC (WT 3.25 08/15/29) | NOTE 3.250% 8/1 · principal | 10,000,000 | $13.5M | Add +100.0% |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 13,000,000 | $13.5M | No change |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 11,000,000 | $12.1M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 10,090,000 | $11.1M | Add +676.1% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 10,760,000 | $10.3M | No change |
| NEOGENOMICS INC (NEO 0.25 01/15/28) | NOTE 0.250% 1/1 · principal | 10,863,000 | $10.0M | New |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 12,925,000 | $9.3M | Add +24.0% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 9,000,000 | $8.8M | No change |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 8,500,000 | $8.7M | Reduce -29.2% |
| PPL CORPORATION (PPL 7 02/15/29) | UNIT 02/15/2029 | 170,000 | $8.7M | New |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,000,000 | $7.6M | New |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 7,558,000 | $7.5M | New |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 7,500,000 | $7.2M | Reduce -57.1% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 6,000,000 | $6.4M | Reduce -76.7% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 6,000,000 | $6.1M | No change |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 4,600,000 | $5.8M | Reduce -82.7% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 6,250,000 | $5.6M | Add +400.0% |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 6,000,000 | $5.4M | New |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 5,000,000 | $5.0M | New |
| VERITONE INC (VERI 1.75 11/15/26) | NOTE 1.750%11/1 · principal | 5,250,000 | $5.0M | No change |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | 5,425,000 | $5.0M | Reduce -91.3% |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | 4,400,000 | $4.7M | Reduce -25.4% |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 5,000,000 | $4.4M | New |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 3,500,000 | $4.2M | New |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 4,285,000 | $3.9M | New |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 3,938,000 | $3.5M | New |
| ARROWHEAD RESEARCH CORP (ARWR 0 01/15/32) | NOTE 1/1 · principal | 3,375,000 | $3.5M | New |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 3,750,000 | $3.4M | Reduce -65.1% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 3,773,000 | $3.3M | New |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 3,270,000 | $3.1M | No change |
| COGENT BIOSCIENCES INC (COGT 1.625 11/15/31) | NOTE 1.625%11/1 · principal | 2,000,000 | $2.4M | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,000,000 | $2.4M | Reduce -85.0% |
| VSE CORP (VSEC 5.75 02/01/29) | UNIT 02/01/2029 | 42,744 | $2.1M | New |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 1,733,000 | $1.6M | New |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 500,000 | $1.3M | Reduce -90.0% |
| ZENAS BIOPHARMA INC (ZBIO 2.5 04/01/32) | NOTE 2.500% 4/0 · principal | 1,200,000 | $1.2M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 1,000,000 | $1.2M | New |
| RAMACO RESOURCES INC (METC 0 11/01/31) | NOTE 11/0 · principal | 1,500,000 | $1.2M | Reduce -89.8% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 15,168 | $1.1M | New |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 1,000,000 | $1.1M | No change |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 4,000,000 | $1.1M | Reduce -27.3% |
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | 375,000 | $993K | No change |
| CELCUITY INC (CELC 2.75 08/01/31) | NOTE 2.750% 8/0 · principal | 350,000 | $856K | No change |
| BRIDGEBIO PHARMA INC (BBIO 1.75 03/01/31) | NOTE 1.750% 3/0 · principal | 500,000 | $849K | New |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 1,103,000 | $844K | New |
| INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30) | DBCV 1.875% 3/1 · principal | 875,000 | $839K | New |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 800,000 | $747K | Reduce -92.9% |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 1,522,804 | $735K | Add +142.7% |
| CENTRUS ENERGY CORP (LEU 2.25 11/01/30) | NOTE 2.250%11/0 · principal | 350,000 | $710K | Reduce -94.9% |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | 16,049 | $660K | New |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 650,000 | $637K | No change |
| LCI INDUSTRIES (LCII 3 03/01/30) | NOTE 3.000% 3/0 · principal | 400,000 | $483K | New |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 150,000 | $460K | No change |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 200,000 | $450K | No change |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 435,000 | $422K | Reduce -92.0% |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 400,000 | $413K | Reduce -96.3% |
| ALPHATEC HOLDINGS INC (ATEC 0.75 03/15/30) | NOTE 0.750% 3/1 · principal | 350,000 | $359K | New |
| IQIYI INC (IQ 4.625 03/15/30) | NOTE 4.625% 3/1 · principal | 400,000 | $354K | New |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 345,000 | $344K | No change |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | 135,000 | $320K | Reduce -88.1% |
| UNITY SOFTWARE INC (U 0 03/15/30) | NOTE 3/1 · principal | 300,000 | $300K | New |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 799,862 | $280K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 1,300,000 | $273K | No change |
| MCEWEN INC (MUX 5.25 08/15/30) | NOTE 5.250% 8/1 · principal | 110,000 | $232K | New |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | 509,930 | $230K | Add +1.0% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 3,551 | $230K | Reduce -98.3% |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 764,370 | $229K | Add +247.4% |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 995,000 | $213K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 700,000 | $211K | No change |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 3,654 | $210K | New |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 3,469 | $204K | New |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 641,000 | $192K | No change |
| IEAGR Infinite Eagle Acquis-Rights | RIGHT 01/13/2031 | 900,000 | $162K | New |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 2,000,000 | $160K | Add +33.3% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 290,000 | $150K | No change |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 150,000 | $146K | No change |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 206,400 | $144K | New |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 646,192 | $142K | Add +7.2% |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | 700,000 | $140K | No change |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 709,339 | $121K | Add +1.5% |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 400,000 | $120K | No change |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 450,000 | $117K | No change |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 645,000 | $116K | No change |
| HAVAR Harvard Ave Acquisition | RIGHT 99/99/9999 | 950,000 | $114K | No change |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 626,206 | $106K | Add +5.2% |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | 527,965 | $100K | Add +2.8% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 73,200 | $95K | New |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 499,700 | $90K | No change |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 670,000 | $84K | Add +6.2% |
| PSNYW Polestar Auto Class C-1 ADS | ADS CL C-1 | 16,350 | $83K | No change |
| HCACR Hall Chadwick Acquisi-Rights | RIGHT 11/20/2030 | 275,000 | $66K | No change |
| IGACR Invest Green Acquisition-RTS | RIGHT 11/17/2030 | 286,000 | $54K | Add +10.0% |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 150,000 | $38K | No change |
| SCIIR SC II Acquisition Corp.-RT | RIGHT 11/26/2030 | 162,700 | $36K | Reduce -21.8% |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | 125,000 | $24K | No change |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | 150,000 | $18K | No change |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 10,000 | $12K | No change |
Total filed on the 13F, all lines: $133.7B.
Portfolio Sells Q4 2025 → Q1 2026
| WMT Walmart Inc. | Reduce -97.7% | 0.09% | −3.28 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -82.9% | 0.32% | −1.53 |
| IVV iShares Core S&P 500 ETF | Reduce -10.4% | 6.65% | −0.72 |
| IBIT iShares Bitcoin Trust ETF | Reduce -43.8% | 0.58% | −0.68 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.68 |
| NVDA Nvidia Corp. | Reduce -30.5% | 1.45% | −0.66 |
| AVGO Broadcom Inc. | Reduce -51.6% | 0.52% | −0.62 |
| BSX Boston Scientific Corp. | Reduce -61.5% | 0.19% | −0.57 |
| MRK Merck & Co. Inc. | Reduce -71.0% | 0.19% | −0.35 |
| DHR Danaher Corp. | Reduce -91.1% | 0.03% | −0.32 |
| ISRG Intuitive Surgical Inc. | Reduce -38.8% | 0.33% | −0.30 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -62.1% | 0.13% | −0.29 |
| EW Edwards Lifesciences Corp. | Reduce -70.5% | 0.11% | −0.27 |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | Sold out | 0.00% | −0.27 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.26 |
| LIN Linde PLC | Reduce -92.0% | 0.03% | −0.25 |
| GOOGL Alphabet Inc. Class A | Reduce -38.0% | 0.38% | −0.25 |
| SCHW Schwab (charles) Corp. | Reduce -82.0% | 0.05% | −0.22 |
| IFF Intl Flavors & Fragrances | Reduce -99.6% | 0.00% | −0.22 |
| URI United Rentals Inc. | Reduce -85.4% | 0.04% | −0.22 |
| V Visa Inc. Class A | Reduce -61.2% | 0.12% | −0.22 |
| ETHA iShares Ethereum Trust ETF | Reduce -34.3% | 0.20% | −0.21 |
| FYBR Frontier Communications Pare | Sold out | 0.00% | −0.21 |
| USB US Bancorp | Reduce -99.8% | 0.00% | −0.20 |
| VRT Vertiv Holdings Co. Class A | Reduce -98.9% | 0.00% | −0.20 |
| CVS CVS Health Corp. | Reduce -94.4% | 0.01% | −0.19 |
| GOOG Alphabet Inc. Class C | Reduce -28.8% | 0.40% | −0.18 |
| MDT Medtronic PLC | Reduce -84.1% | 0.03% | −0.18 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.18 |
| REGN Regeneron Pharmaceuticals | Reduce -83.5% | 0.04% | −0.18 |
| AMG Affiliated Managers Group | Reduce -99.3% | 0.00% | −0.17 |
| AMZN Amazon.com Inc. | Reduce -22.8% | 0.46% | −0.16 |
| MUSA Murphy USA Inc. | Reduce -98.4% | 0.00% | −0.16 |
| AON Aon PLC Class A | Reduce -96.9% | 0.01% | −0.16 |
| OTIS Otis Worldwide Corp. | Reduce -96.3% | 0.01% | −0.15 |
| PYPL PayPal Holdings Inc. | Reduce -84.7% | 0.02% | −0.15 |
| BA The Boeing Co. | Reduce -56.0% | 0.11% | −0.14 |
| HON Honeywell International Inc. | Reduce -76.4% | 0.06% | −0.14 |
| HII Huntington Ingalls Industrie | Reduce -83.7% | 0.03% | −0.14 |
| JPM JPMorgan Chase & Co. | Reduce -29.9% | 0.28% | −0.14 |
| BIIB Biogen Inc. | Reduce -91.7% | 0.01% | −0.13 |
| CMCSA Comcast Corp. Class A | Reduce -81.1% | 0.03% | −0.13 |
| PG The Procter & Gamble Co. | Reduce -54.6% | 0.12% | −0.13 |
| ELAN Elanco Animal Health Inc. | Reduce -91.2% | 0.01% | −0.12 |
| AYI Acuity Inc. | Reduce -91.7% | 0.01% | −0.12 |
| D Dominion Energy Inc. | Reduce -87.5% | 0.02% | −0.12 |
| EVR Evercore Inc. Class A | Reduce -87.1% | 0.02% | −0.12 |
| SLB SLB Ltd. | Reduce -89.8% | 0.02% | −0.12 |
| CP Canadian Pacific Kansas City | Reduce -95.6% | 0.01% | −0.12 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −0.12 |
Portfolio Buys Q4 2025 → Q1 2026
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 1.29% | +1.29 |
| VOO Vanguard S&P 500 ETF | Add +100468.1% | 0.48% | +0.48 |
| BAC Bank of America Corp. | Add +486.5% | 0.55% | +0.45 |
| WBD Warner Bros Discovery Inc. | Add +71.6% | 0.95% | +0.40 |
| META Meta Platforms Inc. Class A | Add +80.7% | 0.90% | +0.36 |
| CBRE CBRE Group Inc. Class A | Add +355.0% | 0.46% | +0.34 |
| TSLA Tesla Inc. | Add +341.5% | 0.46% | +0.34 |
| CTRA Coterra Energy Inc. | Add +542.1% | 0.35% | +0.31 |
| AEP American Electric Power | Add +200.4% | 0.43% | +0.31 |
| TSM Taiwan Semiconductor-SP ADR | Add +74.4% | 0.59% | +0.30 |
| HBAN Huntington Bancshares Inc. | Add +986.6% | 0.32% | +0.29 |
| BMY Bristol-Myers Squibb Co. | Add +780.2% | 0.31% | +0.28 |
| VLO Valero Energy Corp. | Add +1850.8% | 0.26% | +0.25 |
| XLF SS Financial Select Sector | Add +162.2% | 0.42% | +0.25 |
| PPL PPL Corp. | Add +582.3% | 0.26% | +0.22 |
| WBS Webster Financial Corp. | Add +984.6% | 0.24% | +0.22 |
| MS Morgan Stanley | Add +75.7% | 0.52% | +0.22 |
| MA Mastercard Inc. Class A | Add +204.7% | 0.32% | +0.21 |
| CSCO Cisco Systems Inc. | Add +339.3% | 0.26% | +0.20 |
| XLP SS Consumer Staples Sel Sect | Add +1296.0% | 0.21% | +0.19 |
| MU Micron Technology Inc. | Add +46.8% | 0.43% | +0.19 |
| CDE Coeur Mining Inc. | Add +2371.6% | 0.20% | +0.19 |
| EEM iShares MSCI Emerging Market | Add +1299.0% | 0.21% | +0.19 |
| BP BP PLC-Spons ADR | Add +99.7% | 0.29% | +0.19 |
| XOM Exxon Mobil Corp. | Add +129.1% | 0.26% | +0.18 |
| DASH DoorDash Inc. Class A | Add +1976.0% | 0.17% | +0.16 |
| RTX RTX Corp. | Add +188.2% | 0.23% | +0.16 |
| PFSI Pennymac Financial Services | Add +3868.6% | 0.16% | +0.16 |
| IEX Idex Corp. | Add +87.6% | 0.30% | +0.16 |
| WIX Wix.com Ltd. | Add +370.5% | 0.20% | +0.15 |
| NRG NRG Energy Inc. | Add +221.1% | 0.23% | +0.15 |
| KKR KKR & Co. Inc. | Add +571.7% | 0.19% | +0.15 |
| TW Tradeweb Markets Inc. Class A | Add +434.6% | 0.18% | +0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +159.1% | 0.25% | +0.15 |
| KVUE Kenvue Inc. | Add +45.9% | 0.43% | +0.15 |
| DDOG Datadog Inc. Class A | Add +739.2% | 0.17% | +0.15 |
| PSX Phillips 66 | Add +393.6% | 0.17% | +0.15 |
| CWAN Clearwater Analytics HDS-A | Add +522.6% | 0.17% | +0.15 |
| PCAR Paccar Inc. | Add +676.5% | 0.16% | +0.14 |
| NSC Norfolk Southern Corp. | Add +10.4% | 1.03% | +0.14 |
| IVZ Invesco Ltd. | Add +55.9% | 0.41% | +0.14 |
| HOLX Hologic Inc. | Add +61.5% | 0.34% | +0.14 |
| ORLY O'reilly Automotive Inc. | Add +350.3% | 0.18% | +0.14 |
| FERG Ferguson Enterprises Inc. | Add +119.2% | 0.23% | +0.13 |
| LPLA LPL Financial Holdings Inc. | Add +192.2% | 0.21% | +0.13 |
| MRVL Marvell Technology Inc. | Add +11.4% | 0.47% | +0.13 |
| FTI Technipfmc PLC | Add +156.2% | 0.17% | +0.13 |
| T AT&T Inc. | Add +96.1% | 0.22% | +0.13 |
| PEN Penumbra Inc. | Add +62.0% | 0.28% | +0.13 |
| LRCX Lam Research Corp. | Add +43.3% | 0.27% | +0.13 |
Options Activity Q4 2025 → Q1 2026
| IWM iShares Russell 2000 ETF | put | Add +30.9% | 40,169,200 | $10.0B |
| NVDA Nvidia Corp. | put | Add +0.5% | 23,618,000 | $4.1B |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -30.6% | 6,049,600 | $3.5B |
| IWM iShares Russell 2000 ETF | call | Reduce -23.5% | 11,990,300 | $3.0B |
| MSFT Microsoft Corp. | put | Add +61.5% | 6,878,900 | $2.5B |
| QQQ Invesco QQQ Trust Series 1 | call | Add +8.6% | 3,964,500 | $2.3B |
| AMZN Amazon.com Inc. | put | Add +15.8% | 10,935,400 | $2.3B |
| AAPL Apple Inc. | put | Reduce -3.4% | 8,706,700 | $2.2B |
| META Meta Platforms Inc. Class A | put | Add +14.2% | 3,616,700 | $2.1B |
| GOOGL Alphabet Inc. Class A | put | Add +20.6% | 6,560,100 | $1.9B |
| TSLA Tesla Inc. | put | Add +68.6% | 4,909,800 | $1.8B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +0.4% | 2,733,300 | $1.8B |
| XLF SS Financial Select Sector | put | Add +6.4% | 28,767,800 | $1.4B |
| XLE SS Energy Select Sector | put | Add +20.5% | 22,869,800 | $1.4B |
| CRH CRH PLC | call | Reduce -43.2% | 240,500 | $1.4B |
| CRH CRH PLC | put | Add +450.4% | 199,800 | $1.4B |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +45.0% | 16,906,400 | $1.3B |
| AAPL Apple Inc. | call | Add +13.3% | 5,225,100 | $1.3B |
| NVDA Nvidia Corp. | call | Add +13.1% | 7,378,900 | $1.3B |
| AMD Advanced Micro Devices | put | Add +25.4% | 5,275,900 | $1.1B |
| MSFT Microsoft Corp. | call | Add +77.3% | 2,781,800 | $1.0B |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +199.4% | 1,572,800 | $1.0B |
| EEM iShares MSCI Emerging Market | put | Reduce -4.2% | 16,895,300 | $959.5M |
| AMZN Amazon.com Inc. | call | Add +41.3% | 4,494,000 | $936.0M |
| AVGO Broadcom Inc. | put | Reduce -6.8% | 2,825,400 | $874.5M |
| META Meta Platforms Inc. Class A | call | Add +9.4% | 1,494,900 | $855.3M |
| GOOG Alphabet Inc. Class C | put | Add +1.9% | 2,795,500 | $801.9M |
| XOM Exxon Mobil Corp. | put | Add +2.8% | 4,595,300 | $779.6M |
| NFLX Netflix Inc. | put | Add +89.9% | 7,918,600 | $761.4M |
| BRK.B Berkshire Hathaway Inc. Class B | put | Add +52.7% | 1,515,000 | $726.0M |
| GOOGL Alphabet Inc. Class A | call | Add +32.0% | 2,316,400 | $666.1M |
| TSLA Tesla Inc. | call | Add +9.1% | 1,732,000 | $643.9M |
| PLTR Palantir Technologies Inc. Class A | put | Add +47.5% | 4,278,200 | $625.8M |
| MU Micron Technology Inc. | put | Add +29.7% | 1,819,700 | $614.8M |
| AZN Astrazeneca PLC | put | Reduce -38.8% | 40,400 | $587.7M |
| KRE SS SPDR S&P Regional Bank | call | Add +633.8% | 8,774,800 | $571.7M |
| TSM Taiwan Semiconductor-SP ADR | put | Add +226.1% | 1,671,400 | $564.8M |
| AVGO Broadcom Inc. | call | Reduce -1.1% | 1,725,800 | $534.2M |
| XLF SS Financial Select Sector | call | Add +131.9% | 10,445,750 | $515.7M |
| XLE SS Energy Select Sector | call | Add +15.4% | 8,352,300 | $511.7M |
| XLY SS Consumer Disc Select Sect | put | Reduce -3.1% | 4,424,900 | $482.2M |
| LLY Eli Lilly & Co. | put | Add +2.1% | 498,500 | $458.5M |
| MU Micron Technology Inc. | call | Add +55.2% | 1,332,600 | $450.2M |
| GOOG Alphabet Inc. Class C | call | Add +17.9% | 1,560,200 | $447.6M |
| SMH Vaneck Semiconductor ETF | call | Add +20.1% | 1,120,500 | $429.6M |
| XOM Exxon Mobil Corp. | call | Add +49.1% | 2,506,800 | $425.3M |
| V Visa Inc. Class A | put | Add +47.8% | 1,387,500 | $419.4M |
| WMT Walmart Inc. | put | Add +95.7% | 3,342,900 | $415.5M |
| COST Costco Wholesale Corp. | put | Add +48.2% | 401,200 | $399.8M |
| XLK SS Technology Select Sector | put | Reduce -3.8% | 2,865,600 | $380.8M |
Showing the first 50 of 1,931.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +2.7% | 205,553,000 | $1.5B |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +110.5% | 157,266,000 | $841.9M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Add +215.5% | 117,545,000 | $420.9M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Add +22.6% | 246,992,000 | $343.3M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Sold out | 55,650,000 | $296.1Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Add +95.9% | 24,510,000 | $173.3M |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Add +82.8% | 114,761,000 | $112.4M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Add +14.5% | 60,911,000 | $111.5M |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Add +623.3% | 114,844,000 | $107.1M |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | Add +226.7% | 106,099,000 | $106.2M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +1044.5% | 85,836,000 | $104.4M |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Reduce -19.9% | 59,250,000 | $103.8M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +72.0% | 43,000,000 | $103.6M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Add +38.7% | 73,510,000 | $103.4M |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | Sold out | 75,178,000 | $101.3Mbefore exit |
| STRATEGY INC (MSTR 0 03/01/30) | NOTE 3/0 · principal | New | 101,866,000 | $88.8M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Add +318.0% | 83,594,000 | $86.8M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Sold out | 79,264,000 | $79.1Mbefore exit |
| NEXTERA ENERGY INC (NEE 7.375 02/15/29) | UNIT 02/15/2029 | New | 1,449,980 | $73.0M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | Add +50.4% | 71,546,000 | $69.5M |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Add +19.9% | 60,305,000 | $59.0M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Add +18.3% | 33,915,000 | $58.7M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Sold out | 60,000,000 | $56.5Mbefore exit |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Sold out | 55,500,000 | $55.4Mbefore exit |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +73.7% | 53,050,000 | $54.9M |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | Add +17.3% | 54,318,000 | $54.2M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 50,000,000 | $51.9Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Sold out | 47,485,000 | $47.1Mbefore exit |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Add +17.4% | 24,644,000 | $44.4M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Add +436.5% | 43,019,000 | $43.0M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Add +682.0% | 35,775,000 | $42.3M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Reduce -12.0% | 41,585,000 | $38.7M |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Add +52.1% | 36,500,000 | $37.3M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Add +45.2% | 28,923,000 | $37.1M |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | Add +202.5% | 41,828,000 | $36.2M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 30,000,000 | $35.2M |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | Add +33.3% | 30,025,000 | $34.7M |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | Add +50.9% | 32,960,000 | $33.8M |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | New | 35,500,000 | $33.7M |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | New | 675,000 | $30.9M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | Sold out | 24,000,000 | $30.3Mbefore exit |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | Sold out | 21,700,000 | $29.8Mbefore exit |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | New | 30,000,000 | $29.7M |
| ASTRONICS CORP (ATRO 5.5 03/15/30) | NOTE 5.500% 3/1 · principal | Add +31.9% | 9,503,000 | $29.2M |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | Add +17.1% | 27,400,000 | $28.9M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Sold out | 28,000,000 | $28.8Mbefore exit |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Sold out | 28,000,000 | $28.0Mbefore exit |
| CALLAWAY GOLF CO (CALY 2.75 05/01/26) | NOTE 2.750% 5/0 · principal | Sold out | 26,800,000 | $26.7Mbefore exit |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | Reduce -26.1% | 24,000,000 | $26.4M |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Add +346.1% | 29,000,000 | $26.0M |
Showing the first 50 of 161.
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 |