Mirabella Financial Services LLP

Name: MIRABELLA FINANCIAL SERVICES LLP 13F holdings, Q2 2025
Creator: MIRABELLA FINANCIAL SERVICES LLP
Published: 2025-08-13

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Mirabella Financial Services LLP reported 202 stock positions worth $929.3 million. Its top holding was ADS-Tec Energy (ADSE) at 24.5% of the portfolio, followed by Carvana (CVNA, 3.4%) and Kingsway (KWY, 3.2%). Compared with Q1 2025, it opened 50 new positions, sold out of 75, added to 26 and reduced 114. The biggest buy was ADS-Tec Energy (ADSE, shares +7%) and the biggest sale Microsoft (MSFT, shares −90%).

Most Recent 13F: Q2 2026
Location: London, X0
CIK: 0001538853
Portfolio Value: $929.3M (Q2 2025)
SEC Filing: 0001172661-25-003175 ↗ filed Aug 13, 2025

Holdings Value

Holdings 202 stocks · $929.3M


ADSE ADS-Tec Energy PLC	24.46%	16,480,469	$227.4M	Add +7.0%
CVNA Carvana Co.	3.44%	95,000	$32.0M	Reduce -24.0%
KWY Kingsway Corp.	3.19%	1,934,586	$29.7M	Add +10.4%
EG Everest Group Ltd.	2.84%	77,613	$26.4M	Add +378.2%
SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY	2.64%	12,861,549	$24.6M	Add +5.0%
BUSE First Busey Corp.	2.16%	878,874	$20.1M	New
KMPR Kemper Corp.	2.12%	304,747	$19.7M	Add +54.1%
GOLDEN OCEAN GROUP LTD	2.04%	2,565,720	$19.0M	Add +2.6%
MSFT Microsoft Corp.	1.95%	36,295	$18.1M	Reduce -89.8%
PPBI Pacific Premier Bancorp Inc.	1.92%	845,286	$17.8M	Add +244.1%
AXS Axis Capital Holdings Ltd.	1.84%	165,105	$17.1M	Add +28.9%
AUB Atlantic Union Bankshares Co.	1.79%	531,475	$16.6M	New
MXCT Maxcyte Inc.	1.55%	6,600,000	$14.4M	Add +78.4%
NVDA Nvidia Corp.	1.49%	87,023	$13.8M	Reduce -88.8%
TMUS T-Mobile US Inc.	1.39%	54,173	$12.9M	Add +56.0%
META Meta Platforms Inc. Class A	1.35%	17,018	$12.6M	Reduce -71.5%
AMZN Amazon.com Inc.	1.35%	56,899	$12.5M	Reduce -88.7%
FRO Frontline PLC	1.28%	725,000	$11.9M	No change
BANC Banc of California Inc.	1.28%	845,536	$11.9M	Add +0.6%
HON Honeywell International Inc.	1.12%	44,692	$10.4M	New
AA Alcoa Corp.	1.03%	325,000	$9.6M	Add +62.5%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	1.03%	112,701	$9.6M	Reduce -16.3%
MRVI Maravai Lifesciences Hldgs-A	0.97%	3,750,000	$9.0M	Add +0.3%
AAPL Apple Inc.	0.93%	42,097	$8.7M	Reduce -89.7%
GOOGL Alphabet Inc. Class A	0.88%	46,359	$8.2M	Reduce -89.3%
NFLX Netflix Inc.	0.85%	5,872	$7.9M	Reduce -19.0%
CAT Caterpillar Inc.	0.81%	19,475	$7.6M	New
JCI Johnson Controls Internation	0.78%	68,332	$7.2M	New
HUBB Hubbell Inc.	0.72%	16,473	$6.7M	Add +663.7%
AMAT Applied Materials Inc.	0.68%	34,546	$6.3M	Add +42.9%
MMM 3M Co.	0.67%	40,905	$6.2M	New
WAB Wabtec Corp.	0.64%	28,477	$6.0M	New
DKNG Draftkings Inc. Class A	0.62%	134,273	$5.8M	New
LQDA Liquidia Corp.	0.60%	451,232	$5.6M	Reduce -9.8%
NOW ServiceNow Inc.	0.58%	5,201	$5.4M	Reduce -80.9%
PH Parker Hannifin Corp.	0.57%	7,644	$5.3M	Add +215.2%
BLND Blend Labs Inc. Class A	0.57%	1,607,000	$5.3M	No change
VMC Vulcan Materials Co.	0.57%	20,199	$5.3M	New
AVGO Broadcom Inc.	0.55%	18,479	$5.1M	Reduce -85.6%
JPM JPMorgan Chase & Co.	0.55%	17,402	$5.1M	Reduce -71.4%
FFWM First Foundation Inc.	0.50%	903,630	$4.6M	Add +51.2%
TDG Transdigm Group Inc.	0.48%	2,916	$4.4M	New
INSW International Seaways Inc.	0.47%	120,000	$4.4M	Reduce -25.0%
SE Sea Ltd.-ADR	0.45%	26,201	$4.2M	Reduce -47.0%
LAB Standard Biotools Inc.	0.44%	3,434,387	$4.1M	Add +5.0%
V Visa Inc. Class A	0.41%	10,579	$3.8M	Reduce -94.1%
UBS UBS Group AG-Reg	0.40%	109,430	$3.7M	New
ACN Accenture PLC Class A	0.40%	12,345	$3.7M	Reduce -29.2%
LPG Dorian LPG Ltd.	0.38%	145,000	$3.5M	Add +7.4%
CRM Salesforce Inc.	0.36%	12,126	$3.3M	Add +3.2%
DLTR Dollar Tree Inc.	0.34%	31,540	$3.1M	New
PM Philip Morris International	0.33%	16,763	$3.1M	New
DE Deere & Co.	0.32%	5,922	$3.0M	New
DASH DoorDash Inc. Class A	0.30%	11,391	$2.8M	New
CCK Crown Holdings Inc.	0.30%	26,644	$2.7M	New
BRK.B Berkshire Hathaway Inc. Class B	0.29%	5,548	$2.7M	Reduce -75.8%
AVT Avnet Inc.	0.28%	48,700	$2.6M	New
ADSK Autodesk Inc.	0.28%	8,295	$2.6M	No change
BKNG Booking Holdings Inc.	0.27%	436	$2.5M	Reduce -95.5%
ORCL Oracle Corp.	0.26%	11,054	$2.4M	No change
ABBV Abbvie Inc.	0.26%	12,919	$2.4M	Reduce -69.5%
BWXT BWX Technologies Inc.	0.25%	16,393	$2.4M	New
HCA HCA Healthcare Inc.	0.25%	5,991	$2.3M	Reduce -95.6%
STLD Steel Dynamics Inc.	0.24%	17,710	$2.3M	Reduce -96.8%
ROK Rockwell Automation Inc.	0.23%	6,561	$2.2M	New
CTVA Corteva Inc.	0.23%	28,863	$2.2M	New
ECL Ecolab Inc.	0.23%	7,977	$2.1M	New
EU Encore Energy Corp.	0.23%	750,000	$2.1M	No change
PINS Pinterest Inc. Class A	0.23%	59,034	$2.1M	New
GOOG Alphabet Inc. Class C	0.23%	11,800	$2.1M	Reduce -89.3%
PGR Progressive Corp.	0.22%	7,691	$2.1M	Reduce -94.9%
UNH Unitedhealth Group Inc.	0.22%	6,572	$2.1M	Reduce -94.0%
HRL Hormel Foods Corp.	0.22%	68,011	$2.1M	New
KO The Coca-Cola Co.	0.22%	28,688	$2.0M	New
FOXA Fox Corp. Class A	0.22%	35,751	$2.0M	New
MCHP Microchip Technology Inc.	0.21%	28,300	$2.0M	New
LLY Eli Lilly & Co.	0.21%	2,528	$2.0M	Reduce -76.7%
BTI British American Tob-SP ADR	0.21%	41,420	$2.0M	New
TSN Tyson Foods Inc. Class A	0.20%	33,896	$1.9M	Reduce -95.9%
CDLX Cardlytics Inc.	0.20%	1,155,000	$1.9M	No change
DG Dollar General Corp.	0.20%	16,480	$1.9M	Reduce -96.0%
SYK Stryker Corp.	0.20%	4,567	$1.8M	Reduce -66.4%
PTC PTC Inc.	0.19%	10,343	$1.8M	No change
TSM Taiwan Semiconductor-SP ADR	0.19%	7,791	$1.8M	Reduce -96.7%
KNSL Kinsale Capital Group Inc.	0.19%	3,639	$1.8M	Reduce -96.0%
LVS Las Vegas Sands Corp.	0.18%	39,375	$1.7M	New
PEP Pepsico Inc.	0.18%	12,912	$1.7M	Reduce -74.5%
WDAY Workday Inc. Class A	0.18%	6,896	$1.7M	Add +40.9%
THO Thor Industries Inc.	0.18%	18,375	$1.6M	Reduce -95.2%
CELH Celsius Holdings Inc.	0.17%	34,996	$1.6M	New
MMYT Makemytrip Ltd.	0.17%	16,500	$1.6M	New
QRVO Qorvo Inc.	0.17%	18,362	$1.6M	New
INTU Intuit Inc.	0.17%	1,967	$1.5M	Reduce -46.4%
EPAM Epam Systems Inc.	0.16%	8,628	$1.5M	Reduce -16.5%
FORM Formfactor Inc.	0.16%	44,300	$1.5M	New
BLK BlackRock Inc.	0.16%	1,444	$1.5M	Reduce -68.6%
TXRH Texas Roadhouse Inc.	0.16%	8,101	$1.5M	New
DOX Amdocs Ltd.	0.16%	16,540	$1.5M	Add +131.3%
CME Cme Group Inc.	0.16%	5,398	$1.5M	Reduce -89.3%
BUD Anheuser-Busch Inbev-SPN ADR	0.16%	21,676	$1.5M	New
ADBE Adobe Inc.	0.16%	3,758	$1.5M	Reduce -62.0%
VECO Veeco Instruments Inc.	0.15%	69,415	$1.4M	Add +7.3%
KVUE Kenvue Inc.	0.15%	66,615	$1.4M	Reduce -55.9%
KMI Kinder Morgan Inc.	0.15%	45,879	$1.4M	Reduce -74.0%
MELI MercadoLibre Inc.	0.14%	513	$1.3M	Reduce -96.3%
TSLA Tesla Inc.	0.14%	4,208	$1.3M	Reduce -73.0%
PLTR Palantir Technologies Inc. Class A	0.14%	9,527	$1.3M	Reduce -93.7%
SNPS Synopsys Inc.	0.14%	2,457	$1.3M	Reduce -85.1%
VAL Valaris Ltd.	0.14%	30,000	$1.3M	Reduce -66.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.14%	10,123	$1.3M	Reduce -74.4%
AME Ametek Inc.	0.13%	6,648	$1.2M	Reduce -75.2%
SHOP Shopify Inc. Class A	0.13%	10,183	$1.2M	Reduce -74.5%
ELV Elevance Health Inc.	0.12%	2,935	$1.1M	Reduce -70.6%
CAMT Camtek Ltd.	0.12%	13,500	$1.1M	New
FIX Comfort Systems USA Inc.	0.12%	2,060	$1.1M	New
BSY Bentley Systems Inc. Class B	0.12%	20,400	$1.1M	Reduce -72.0%
BRO Brown & Brown Inc.	0.12%	9,684	$1.1M	Reduce -90.8%
BURL Burlington Stores Inc.	0.12%	4,602	$1.1M	New
MS Morgan Stanley	0.11%	7,539	$1.1M	Reduce -74.0%
PCAR Paccar Inc.	0.11%	11,077	$1.1M	Reduce -76.3%
TOST Toast Inc. Class A	0.11%	23,851	$1.1M	New
CTRE Caretrust REIT Inc.	0.11%	34,335	$1.1M	Reduce -64.8%
VLO Valero Energy Corp.	0.11%	7,796	$1.1M	Reduce -67.1%
ULTA Ulta Beauty Inc.	0.11%	2,245	$1.1M	New
NTAP Netapp Inc.	0.11%	9,800	$1.0M	New
ROST Ross Stores Inc.	0.11%	8,130	$1.0M	New
NOC Northrop Grumman Corp.	0.11%	2,062	$1.0M	Reduce -74.1%
TECK Teck Resources Ltd.-CLS B	0.11%	25,600	$1.0M	New
ANET Arista Networks Inc.	0.11%	10,005	$1.0M	Reduce -94.9%
VRTX Vertex Pharmaceuticals Inc.	0.11%	2,299	$1.0M	Reduce -96.0%
ENTG Entegris Inc.	0.11%	12,700	$1.0M	New
SLVM Sylvamo Corp.	0.11%	20,254	$1.0M	Reduce -89.9%
CPRT Copart Inc.	0.11%	20,592	$1.0M	Reduce -74.5%
AMKR Amkor Technology Inc.	0.11%	48,223	$1.0M	New
UTZ Utz Brands Inc.	0.10%	77,590	$974K	New
ALNY Alnylam Pharmaceuticals Inc.	0.10%	2,970	$973K	Reduce -74.7%
DAL Delta Air Lines Inc.	0.10%	19,148	$946K	Reduce -98.1%
LEA Lear Corp.	0.10%	9,804	$935K	Reduce -34.3%
IDXX Idexx Laboratories Inc.	0.10%	1,718	$926K	Reduce -73.6%
MTD Mettler-Toledo International	0.10%	779	$919K	Reduce -74.8%
PANW Palo Alto Networks Inc.	0.10%	4,440	$913K	Reduce -94.2%
UNP Union Pacific Corp.	0.10%	3,878	$896K	Reduce -77.2%
KHC The Kraft Heinz Co.	0.10%	34,537	$896K	Reduce -73.8%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC	0.10%	8,197	$888K	Reduce -77.4%
PRI Primerica Inc.	0.09%	3,190	$877K	Reduce -73.5%
JNJ Johnson & Johnson	0.09%	5,660	$868K	Reduce -74.4%
GLOB Globant SA	0.09%	9,500	$863K	Reduce -79.5%
QQQ Invesco QQQ Trust Series 1	0.09%	1,504	$830K	New
WMT Walmart Inc.	0.09%	8,434	$828K	New
OLLI Ollie's Bargain Outlet Holdi	0.09%	6,226	$824K	Reduce -73.8%
IDA Idacorp Inc.	0.09%	7,009	$813K	Reduce -72.9%
OGE Oge Energy Corp.	0.09%	17,961	$801K	Reduce -73.5%
TMO Thermo Fisher Scientific Inc.	0.08%	1,921	$782K	Reduce -74.0%
FLUT Flutter Entertainment PLC-Di	0.08%	2,684	$770K	Reduce -73.2%
CRH CRH PLC	0.08%	8,164	$753K	Reduce -77.3%
CNQ Canadian Natural Resources	0.08%	23,806	$750K	Add +134.2%
PLD Prologis Inc.	0.08%	6,976	$737K	Reduce -76.7%
BMY Bristol-Myers Squibb Co.	0.08%	15,678	$729K	Reduce -77.0%
CDW CDW Corp.	0.08%	4,050	$726K	Reduce -73.0%
BLD Topbuild Corp.	0.08%	2,203	$716K	Reduce -75.1%
CHD Church & Dwight Co. Inc.	0.08%	7,414	$716K	Reduce -76.6%
RMD Resmed Inc.	0.08%	2,740	$710K	New
BAM Brookfield Asset Mgmt-A	0.08%	12,767	$708K	Reduce -70.0%
JLL Jones Lang Lasalle Inc.	0.07%	2,688	$691K	Reduce -77.2%
ARGX Argenx SE - ADR	0.07%	1,217	$674K	Reduce -73.3%
CRWD CrowdStrike Holdings Inc. Class A	0.07%	1,296	$663K	Reduce -78.0%
LAD Lithia Motors Inc.	0.07%	1,921	$652K	Reduce -90.6%
RRC Range Resources Corp.	0.07%	15,895	$649K	Reduce -74.9%
RS Reliance Inc.	0.07%	2,029	$640K	Reduce -74.2%
OMC Omnicom Group	0.07%	8,836	$636K	No change
EXPD Expeditors Intl Wash Inc.	0.07%	5,537	$635K	Reduce -74.0%
TAP Molson Coors Beverage Co. Class B	0.07%	12,862	$621K	Reduce -72.8%
MKC McCormick & Co.-Non VTG SHRS	0.07%	8,119	$618K	Reduce -74.5%
RPM RPM International Inc.	0.07%	5,566	$614K	Reduce -73.3%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	0.07%	7,346	$609K	Reduce -97.1%
EXTR Extreme Networks Inc.	0.06%	31,400	$564K	Reduce -6.6%
SKYT Skywater Technology Inc.	0.06%	55,381	$545K	Add +73.0%
CTRA Coterra Energy Inc.	0.06%	20,559	$524K	Reduce -75.2%
F Ford Motor Co. filed as FORD MTR CO	0.06%	47,247	$515K	Reduce -80.9%
CMCSA Comcast Corp. Class A	0.06%	14,300	$513K	Reduce -75.8%
CSGP Costar Group Inc.	0.06%	6,333	$511K	Reduce -76.7%
PNC PNC Financial Services Group	0.05%	2,721	$509K	Reduce -75.9%
CEPU Central Puerto-Sponsored ADR	0.05%	43,525	$508K	Reduce -19.1%
SAIA Saia Inc.	0.05%	1,842	$507K	Reduce -97.5%
USB US Bancorp	0.05%	10,968	$498K	Reduce -76.4%
IPG Interpublic Group of Cos Inc.	0.05%	20,063	$491K	No change
OXY Occidental Petroleum Corp.	0.05%	11,608	$490K	Reduce -76.1%
ESTC Elastic NV	0.05%	5,800	$489K	Add +5.5%
GILD Gilead Sciences Inc.	0.05%	4,377	$487K	New
IBP Installed Building Products	0.05%	2,671	$484K	Reduce -76.5%
ODFL Old Dominion Freight Line	0.05%	2,900	$473K	Reduce -98.2%
FDS Factset Research Systems Inc.	0.05%	982	$441K	Reduce -72.0%
NXPI NXP Semiconductors NV	0.05%	1,967	$432K	Reduce -73.2%
BN Brookfield Corp.	0.04%	6,545	$406K	Reduce -85.3%
LBTYA Liberty Global Ltd. Class A	0.04%	40,000	$401K	No change
GM General Motors Co.	0.04%	7,917	$391K	Reduce -99.0%
SU Suncor Energy Inc.	0.04%	10,198	$383K	Reduce -85.5%
CP Canadian Pacific Kansas City	0.04%	4,292	$341K	Reduce -86.3%
SNOW Snowflake Inc.	0.03%	1,200	$269K	New
WK Workiva Inc.	0.03%	3,451	$236K	No change
OABI Omniab Inc.	0.02%	100,381	$175K	No change
CRESY Cresud S.A.-Spons ADR	0.02%	15,903	$171K	Reduce -64.7%

Options reported separately and not counted above: SPY puts ($16.1M), KRE puts ($5.4M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $23.5M (not counted above)

Security	Class	Shares / Principal	Value	Change
TXNM ENERGY INC (TXNM 5.75 06/01/54)	NOTE 5.750% 6/0 · principal	17,000,000	$22.1M	New
ADSEW ADS-Tec Energy PLC-WRNT	*W EXP 99/99/999	128,864	$1.4M	Add +756.9%

Total filed on the 13F, all lines: $952.8M.

Portfolio Sells Q1 2025 → Q2 2025


MSFT Microsoft Corp.	Reduce -89.8%	1.95%	−3.71
AAPL Apple Inc.	Reduce -89.7%	0.93%	−2.93
STLD Steel Dynamics Inc.	Reduce -96.8%	0.24%	−2.74
AMZN Amazon.com Inc.	Reduce -88.7%	1.35%	−2.74
V Visa Inc. Class A	Reduce -94.1%	0.41%	−2.25
UNH Unitedhealth Group Inc.	Reduce -94.0%	0.22%	−2.23
NVDA Nvidia Corp.	Reduce -88.8%	1.49%	−2.11
TSN Tyson Foods Inc. Class A	Reduce -95.9%	0.20%	−2.05
APO Apollo Global Management Inc.	Sold out	0.00%	−2.03
GOOGL Alphabet Inc. Class A	Reduce -89.3%	0.88%	−1.97
DAL Delta Air Lines Inc.	Reduce -98.1%	0.10%	−1.78
HCA HCA Healthcare Inc.	Reduce -95.6%	0.25%	−1.76
KNSL Kinsale Capital Group Inc.	Reduce -96.0%	0.19%	−1.71
BKNG Booking Holdings Inc.	Reduce -95.5%	0.27%	−1.64
PGR Progressive Corp.	Reduce -94.9%	0.22%	−1.58
GM General Motors Co.	Reduce -99.0%	0.04%	−1.50
TSM Taiwan Semiconductor-SP ADR	Reduce -96.7%	0.19%	−1.45
RYAN Ryan Specialty Holdings Inc.	Sold out	0.00%	−1.33
DG Dollar General Corp.	Reduce -96.0%	0.20%	−1.33
NVR NVR Inc.	Sold out	0.00%	−1.08
ODFL Old Dominion Freight Line	Reduce -98.2%	0.05%	−1.07
THO Thor Industries Inc.	Reduce -95.2%	0.18%	−1.07
VRTX Vertex Pharmaceuticals Inc.	Reduce -96.0%	0.11%	−1.06
SAIA Saia Inc.	Reduce -97.5%	0.05%	−1.03
MELI MercadoLibre Inc.	Reduce -96.3%	0.14%	−1.01
ANET Arista Networks Inc.	Reduce -94.9%	0.11%	−0.53
KB KB Financial Group Inc.-ADR	Reduce -97.1%	0.07%	−0.52
GOOG Alphabet Inc. Class C	Reduce -89.3%	0.23%	−0.50
SLVM Sylvamo Corp.	Reduce -89.9%	0.11%	−0.46
PANW Palo Alto Networks Inc.	Reduce -94.2%	0.10%	−0.46
BRO Brown & Brown Inc.	Reduce -90.8%	0.12%	−0.44
CME Cme Group Inc.	Reduce -89.3%	0.16%	−0.41
PLTR Palantir Technologies Inc. Class A	Reduce -93.7%	0.14%	−0.40
EXP Eagle Materials Inc.	Sold out	0.00%	−0.38
AVGO Broadcom Inc.	Reduce -85.6%	0.55%	−0.36
NOW ServiceNow Inc.	Reduce -80.9%	0.58%	−0.35
XPEL Xpel Inc.	Sold out	0.00%	−0.31
GPGI Gpgi Inc.	Sold out	0.00%	−0.24
BRK.B Berkshire Hathaway Inc. Class B	Reduce -75.8%	0.29%	−0.23
ASX Ase Technology Holding -ADR	Sold out	0.00%	−0.21
VALE Vale SA-SP ADR	Sold out	0.00%	−0.21
T AT&T Inc.	Sold out	0.00%	−0.20
KOF Coca-Cola Femsa Sab-SP ADR	Sold out	0.00%	−0.20
LAD Lithia Motors Inc.	Reduce -90.6%	0.07%	−0.19
IFS Intercorp Financial Services	Sold out	0.00%	−0.19
CDNS Cadence Design SYS Inc.	Sold out	0.00%	−0.18
DHT DHT Holdings Inc.	Sold out	0.00%	−0.18
LLY Eli Lilly & Co.	Reduce -76.7%	0.21%	−0.17
SNPS Synopsys Inc.	Reduce -85.1%	0.14%	−0.16
PSMT Pricesmart Inc.	Sold out	0.00%	−0.16

Portfolio Buys Q1 2025 → Q2 2025


ADSE ADS-Tec Energy PLC	Add +7.0%	24.46%	+14.69
KWY Kingsway Corp.	Add +10.4%	3.19%	+2.60
EG Everest Group Ltd.	Add +378.2%	2.84%	+2.59
BUSE First Busey Corp.	New	2.16%	+2.16
SKIN Skinhealth Systems Inc.	Add +5.0%	2.64%	+1.95
AUB Atlantic Union Bankshares Co.	New	1.79%	+1.79
PPBI Pacific Premier Bancorp Inc.	Add +244.1%	1.92%	+1.70
KMPR Kemper Corp.	Add +54.1%	2.12%	+1.56
AXS Axis Capital Holdings Ltd.	Add +28.9%	1.84%	+1.30
GOLDEN OCEAN GROUP LTD	Add +2.6%	2.04%	+1.18
HON Honeywell International Inc.	New	1.12%	+1.12
MXCT Maxcyte Inc.	Add +78.4%	1.55%	+1.12
TMUS T-Mobile US Inc.	Add +56.0%	1.39%	+0.99
CAT Caterpillar Inc.	New	0.81%	+0.81
JCI Johnson Controls Internation	New	0.78%	+0.78
AA Alcoa Corp.	Add +62.5%	1.03%	+0.77
BANC Banc of California Inc.	Add +0.6%	1.28%	+0.77
HUBB Hubbell Inc.	Add +663.7%	0.72%	+0.69
MMM 3M Co.	New	0.67%	+0.67
WAB Wabtec Corp.	New	0.64%	+0.64
MRVI Maravai Lifesciences Hldgs-A	Add +0.3%	0.97%	+0.62
DKNG Draftkings Inc. Class A	New	0.62%	+0.62
VMC Vulcan Materials Co.	New	0.57%	+0.57
AMAT Applied Materials Inc.	Add +42.9%	0.68%	+0.53
PH Parker Hannifin Corp.	Add +215.2%	0.57%	+0.51
TDG Transdigm Group Inc.	New	0.48%	+0.48
UBS UBS Group AG-Reg	New	0.40%	+0.40
FFWM First Foundation Inc.	Add +51.2%	0.50%	+0.36
DLTR Dollar Tree Inc.	New	0.34%	+0.34
PM Philip Morris International	New	0.33%	+0.33
DE Deere & Co.	New	0.32%	+0.32
DASH DoorDash Inc. Class A	New	0.30%	+0.30
CCK Crown Holdings Inc.	New	0.30%	+0.30
LAB Standard Biotools Inc.	Add +5.0%	0.44%	+0.29
AVT Avnet Inc.	New	0.28%	+0.28
BWXT BWX Technologies Inc.	New	0.25%	+0.25
LPG Dorian LPG Ltd.	Add +7.4%	0.38%	+0.25
ROK Rockwell Automation Inc.	New	0.23%	+0.23
CTVA Corteva Inc.	New	0.23%	+0.23
ECL Ecolab Inc.	New	0.23%	+0.23
PINS Pinterest Inc. Class A	New	0.23%	+0.23
CRM Salesforce Inc.	Add +3.2%	0.36%	+0.22
HRL Hormel Foods Corp.	New	0.22%	+0.22
KO The Coca-Cola Co.	New	0.22%	+0.22
FOXA Fox Corp. Class A	New	0.22%	+0.22
MCHP Microchip Technology Inc.	New	0.21%	+0.21
BTI British American Tob-SP ADR	New	0.21%	+0.21
LVS Las Vegas Sands Corp.	New	0.18%	+0.18
CELH Celsius Holdings Inc.	New	0.17%	+0.17
MMYT Makemytrip Ltd.	New	0.17%	+0.17

Options Activity Q1 2025 → Q2 2025


SPY SS SPDR S&P 500 ETF Trust-US	put	New	26,000	$16.1M
KRE SS SPDR S&P Regional Bank	put	New	90,700	$5.4M
QQQM Invesco Nasdaq 100 ETF	call	Sold out	7,500	$1.4Mbefore exit
FRO Frontline PLC	call	Sold out	17,200	$255Kbefore exit
VG Venture Global Inc. Class A	call	Sold out	22,600	$233Kbefore exit
TRMD Torm PLC-A	call	Sold out	13,800	$227Kbefore exit
STNG Scorpio Tankers Inc.	call	Sold out	3,800	$143Kbefore exit
NFE New Fortress Energy Inc.	call	Sold out	14,600	$121Kbefore exit
NVGS Navigator Holdings Ltd.	call	Sold out	7,000	$93Kbefore exit
INSW International Seaways Inc.	call	Sold out	1,800	$60Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025


AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29)	NOTE 3.875% 8/1 · principal	Sold out	87,250,000	$87.1Mbefore exit
TXNM ENERGY INC (TXNM 5.75 06/01/54)	NOTE 5.750% 6/0 · principal	New	17,000,000	$22.1M
UNITED STATES STEEL CORP (X 5 11/01/26)	NOTE 5.000%11/0 · principal	Sold out	2,200,000	$7.0Mbefore exit
ADSEW ADS-Tec Energy PLC-WRNT	*W EXP 99/99/999	Add +756.9%	128,864	$1.4M

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	660	$941.7M	ADSE, IWM, OCFC, BUSE, FSUN
Q1 2026	878	$986.9M	ADSE, BUSE, EG, FSUN, OCFC
Q4 2025	657	$977.9M	ADSE, CVNA, BUSE, KWY, SKIN
Q3 2025Amended	248	$1.1B	ADSE, CVNA, MSFT, NVDA, KWY
Q2 2025	202	$929.3M	ADSE, CVNA, KWY, EG, SKIN
Q1 2025Amended	227	$2.4B	ADSE, MSFT, AMZN, AAPL, NVDA
Q4 2024	224	$1.1B	ADSE, MSFT, NVDA, AMZN, GOOGL
Q3 2024	145	$1.8B	TLN, GOOGL, BRK.A, LBRDK, CUK
Q2 2024	413	$1.2B	GOOGL, CUK, LBRDK, NWSA, FOX
Q1 2024	484	$1.4B	GOOGL, LBTYA, LBRDK, CUK, ADSE