Mizuho Securities USA LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Mizuho Securities USA LLC reported 683 stock positions worth $6.0 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 15.7% of the portfolio, followed by Nvidia (NVDA, 5.2%) and Apple (AAPL, 5.0%). Compared with Q3 2025, it opened 50 new positions, sold out of 48, added to 198 and reduced 410. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +453%) and the biggest sale Microsoft (MSFT, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0000812291
- Portfolio Value
- $6.0B (Q4 2025)
- SEC Filing
- 0001062993-26-000693 ↗ filed Feb 9, 2026
Holdings Value
Holdings 683 stocks · $6.0B
| SPY SS SPDR S&P 500 ETF Trust-US | 15.68% | 1,387,834 | $947.5M | Add +452.6% |
| NVDA Nvidia Corp. | 5.18% | 1,769,366 | $313.2M | Reduce -0.4% |
| AAPL Apple Inc. | 4.97% | 1,075,917 | $300.0M | Reduce -0.5% |
| MSFT Microsoft Corp. | 4.41% | 541,177 | $266.3M | Reduce -0.0% |
| AMZN Amazon.com Inc. | 2.73% | 708,336 | $165.2M | Add +0.2% |
| AVGO Broadcom Inc. | 2.29% | 343,852 | $138.5M | Add +0.4% |
| GOOGL Alphabet Inc. Class A | 2.25% | 423,629 | $135.6M | Reduce -0.0% |
| GOOG Alphabet Inc. Class C | 1.79% | 338,584 | $108.4M | Reduce -0.5% |
| META Meta Platforms Inc. Class A | 1.70% | 158,580 | $102.8M | Add +0.4% |
| TSLA Tesla Inc. | 1.46% | 204,602 | $88.0M | Add +0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.14% | 133,521 | $68.6M | Reduce -0.0% |
| LLY Eli Lilly & Co. | 1.03% | 57,823 | $62.2M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.03% | 198,217 | $62.1M | Reduce -1.0% |
| V Visa Inc. Class A | 0.68% | 122,882 | $41.1M | Reduce -0.7% |
| JNJ Johnson & Johnson | 0.60% | 175,429 | $36.3M | Add +0.0% |
| XOM Exxon Mobil Corp. | 0.59% | 307,066 | $35.6M | Reduce -1.1% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | 0.58% | 31,000,000 | $35.3M | Reduce -13.5% |
| WMT Walmart Inc. | 0.58% | 319,292 | $35.3M | Reduce -0.1% |
| NFLX Netflix Inc. | 0.55% | 308,534 | $33.2M | Reduce -0.3% |
| MA Mastercard Inc. Class A | 0.54% | 59,704 | $32.9M | Reduce -0.7% |
| ANSC Agriculture & Natural Soluti | 0.53% | 2,907,338 | $32.1M | Add +70.6% |
| COST Costco Wholesale Corp. | 0.49% | 32,269 | $29.5M | Reduce -0.1% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | 0.49% | 27,885,000 | $29.4M | Add +17.5% |
| ABBV Abbvie Inc. | 0.48% | 128,689 | $29.3M | Add +0.0% |
| PLTR Palantir Technologies Inc. Class A | 0.46% | 166,330 | $28.0M | Add +0.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.43% | 489,182 | $26.2M | Reduce -1.4% |
| HD Home Depot Inc. | 0.43% | 72,478 | $25.9M | Add +0.0% |
| AMD Advanced Micro Devices | 0.43% | 118,543 | $25.8M | Add +0.3% |
| PG The Procter & Gamble Co. | 0.42% | 170,146 | $25.2M | Reduce -0.3% |
| ORCL Oracle Corp. | 0.41% | 122,470 | $24.7M | Add +1.5% |
| GE General Electric filed as GE AEROSPACE | 0.38% | 76,805 | $22.9M | Reduce -0.6% |
| CSCO Cisco Systems Inc. | 0.37% | 286,938 | $22.1M | Reduce -0.5% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | 0.36% | 13,242,000 | $21.9M | New |
| UNH Unitedhealth Group Inc. | 0.36% | 65,957 | $21.8M | Reduce -0.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.35% | 68,061 | $21.0M | Add +0.3% |
| CVX Chevron Corp. | 0.34% | 137,815 | $20.8M | Reduce -1.7% |
| KO The Coca-Cola Co. | 0.34% | 281,893 | $20.6M | Reduce -0.1% |
| CLOUDFLARE INC (NET 0 08/15/26) | 0.33% | 16,767,000 | $19.7M | Add +4.8% |
| WFC Wells Fargo & Co. | 0.32% | 228,568 | $19.6M | Reduce -2.0% |
| CAT Caterpillar Inc. | 0.32% | 34,075 | $19.6M | Reduce -0.1% |
| MU Micron Technology Inc. | 0.32% | 81,731 | $19.3M | Add +0.3% |
| MRK Merck & Co. Inc. | 0.31% | 180,725 | $18.9M | Reduce -0.7% |
| GS Goldman Sachs Group Inc. | 0.30% | 21,839 | $18.0M | Reduce -0.9% |
| PM Philip Morris International | 0.30% | 113,344 | $17.8M | Reduce -0.0% |
| SBXDF Silverbox Corp. IV-A | 0.29% | 1,645,673 | $17.3M | Add +461.2% |
| RTX RTX Corp. | 0.28% | 97,626 | $17.1M | Add +0.1% |
| ABT Abbott Laboratories | 0.27% | 126,613 | $16.3M | Reduce -0.1% |
| MCD McDonald's Corp. | 0.27% | 51,854 | $16.2M | Reduce -0.2% |
| TMO Thermo Fisher Scientific Inc. | 0.27% | 27,357 | $16.2M | Reduce -0.5% |
| CRM Salesforce Inc. | 0.26% | 69,318 | $16.0M | Reduce -0.5% |
| EVERGY INC (EVRG 4.5 12/15/27) | 0.26% | 12,417,000 | $15.6M | Add +58.9% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | 0.26% | 10,000,000 | $15.4M | Reduce -28.5% |
| LPAA Launch One Acquisition Corp. | 0.25% | 1,429,255 | $15.0M | Add +51.3% |
| MS Morgan Stanley | 0.25% | 87,950 | $14.9M | Reduce -0.5% |
| PEP Pepsico Inc. | 0.25% | 99,561 | $14.8M | Reduce -0.1% |
| ISRG Intuitive Surgical Inc. | 0.24% | 25,812 | $14.8M | Reduce -1.1% |
| DMAA Drugs Made in America Acquis | 0.24% | 1,433,483 | $14.8M | Add +30.3% |
| AMAT Applied Materials Inc. | 0.24% | 58,006 | $14.6M | Reduce -0.8% |
| AXP American Express Co. | 0.24% | 39,123 | $14.3M | Reduce -1.0% |
| LRCX Lam Research Corp. | 0.24% | 91,456 | $14.3M | Reduce -0.8% |
| HAYMAKER ACQUISITION CORP 4 | 0.23% | 1,249,126 | $14.1M | Add +26.5% |
| LIN Linde PLC | 0.23% | 34,000 | $14.0M | Reduce -0.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.22% | 129,993 | $13.6M | Reduce -0.7% |
| AMGN Amgen Inc. | 0.22% | 39,209 | $13.5M | Reduce -0.0% |
| C Citigroup Inc. | 0.22% | 130,285 | $13.5M | Reduce -2.8% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | 0.22% | 9,195,000 | $13.5M | New |
| T AT&T Inc. | 0.22% | 516,207 | $13.4M | Reduce -0.9% |
| UBER Uber Technologies Inc. | 0.22% | 151,294 | $13.2M | Reduce -0.4% |
| AAM Aa Mission Acquisition Cor-A | 0.22% | 1,248,995 | $13.2M | Reduce -1.1% |
| INTC Intel Corp. | 0.22% | 326,481 | $13.2M | Add +2.4% |
| QCOM Qualcomm Inc. | 0.22% | 77,983 | $13.1M | Reduce -0.7% |
| NEE Nextera Energy Inc. | 0.22% | 151,642 | $13.1M | Add +1.1% |
| INTU Intuit Inc. | 0.21% | 20,301 | $12.9M | Reduce -0.1% |
| VZ Verizon Communications Inc. | 0.21% | 307,012 | $12.6M | Reduce -0.0% |
| APH Amphenol Corp. Class A | 0.21% | 89,128 | $12.6M | Add +0.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.20% | 81,037 | $12.3M | Reduce -0.3% |
| NOW ServiceNow Inc. | 0.20% | 75,538 | $12.3M | Reduce -0.3% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | 0.20% | 10,515,000 | $12.2M | Reduce -39.9% |
| VACH Voyager Acquisition Corp. | 0.20% | 1,149,773 | $12.0M | Add +52.0% |
| GEV GE Vernova Inc. | 0.20% | 19,756 | $11.8M | Reduce -0.4% |
| APP AppLovin Corp. Class A | 0.20% | 19,710 | $11.8M | Reduce -0.0% |
| BKNG Booking Holdings Inc. | 0.19% | 2,347 | $11.5M | Reduce -0.6% |
| ALF Centurion Acquisition Corp. | 0.19% | 1,078,227 | $11.4M | Add +194.0% |
| GILD Gilead Sciences Inc. | 0.19% | 90,338 | $11.4M | Reduce -0.0% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | 0.19% | 11,119,000 | $11.3M | Add +231.6% |
| ACN Accenture PLC Class A | 0.19% | 45,154 | $11.3M | Reduce -0.5% |
| SCHW Schwab (charles) Corp. | 0.19% | 121,622 | $11.3M | Reduce -2.1% |
| SPGI S&P Global Inc. | 0.19% | 22,572 | $11.3M | Reduce -0.8% |
| GTERA Globa Terra Acquisition Co. Class A | 0.19% | 1,127,433 | $11.2M | Add +27.5% |
| KLAC KLA Corp. | 0.19% | 9,567 | $11.2M | Reduce -0.5% |
| TXN Texas Instruments Inc. | 0.18% | 66,160 | $11.1M | Reduce -0.1% |
| BLK BlackRock Inc. | 0.18% | 10,506 | $11.0M | Add +0.2% |
| BSX Boston Scientific Corp. | 0.18% | 107,942 | $11.0M | Add +0.0% |
| NMP NMP Acquisition Corp. Class A | 0.18% | 1,092,300 | $10.9M | Add +7.2% |
| MACI Melar Acquisition Corp. I-A | 0.18% | 1,027,274 | $10.8M | Add +15.3% |
| BA The Boeing Co. | 0.18% | 57,017 | $10.8M | Add +3.5% |
| PFE Pfizer Inc. | 0.18% | 413,996 | $10.7M | Reduce -0.0% |
| DHR Danaher Corp. | 0.17% | 45,774 | $10.4M | Reduce -1.4% |
| WELL Welltower Inc. | 0.17% | 49,974 | $10.4M | Add +2.6% |
| FTW Eqv Ventures Acquisition C-A | 0.17% | 986,062 | $10.3M | Add +66.8% |
Options reported separately and not counted above: QQQ puts ($259K).
Other holdings (18): bonds, preferreds, convertibles and warrants · $7.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 135,500 | $7.7M | Add +171.0% |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 79,989 | $20K | Reduce -2.2% |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 30,000 | $19K | New |
| COLAR Columbus Acquisition Corp. | RIGHT 99/99/9999 | 58,195 | $17K | Reduce -41.8% |
| NOEMR CO2 Energy Transition Co.-RTS | RIGHT 10/15/2028 | 99,800 | $12K | Reduce -0.5% |
| CHPGR Championsgate Acquisition Co. | RIGHT 05/14/2030 | 99,900 | $10K | No change |
| CHARR Charlton Aria Acquisi-Rights | RIGHT 12/31/2026 | 99,900 | $10K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 36,400 | $7K | Reduce -25.7% |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | 26,243 | $7K | New |
| NMPAR NMP Acquisition Corp. | RIGHT 06/27/2030 | 34,114 | $7K | Reduce -30.0% |
| APACR Stonebridge Acquisition II C | RIGHT 09/09/2030 | 52,312 | $6K | Reduce -30.3% |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 21,344 | $5K | New |
| ATMCW Alphatime Acquisition Cor-28 | *W EXP 03/01/202 | 107,105 | $3K | No change |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | 21,743 | $3K | Reduce -78.3% |
| OAKUW Oak Woods Acquisition -28 | *W EXP 99/99/999 | 100,000 | $2K | No change |
| ECD AUTOMOTIVE DESIGN INC | *W EXP 12/12/202 | 98,294 | $983 | No change |
| EONR.WS HNR Acquisition Corp. -CW23 | *W EXP 11/15/202 | 20,537 | $205 | No change |
| GGROW Gogoro Inc. -CW27 | *W EXP 04/04/202 | 12,913 | $155 | New |
Total filed on the 13F, all lines: $6.0B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -0.0% | 4.41% | −1.15 |
| NVDA Nvidia Corp. | Reduce -0.4% | 5.18% | −1.09 |
| SPOTIFY USA INC (SPOT 0 03/15/26) | Reduce -63.9% | 0.13% | −0.43 |
| NETD Nabors Energy Transition C-A | Sold out | 0.00% | −0.28 |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | Reduce -13.5% | 0.58% | −0.25 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.0% | 1.14% | −0.23 |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | Sold out | 0.00% | −0.22 |
| NFLX Netflix Inc. | Reduce -0.3% | 0.55% | −0.21 |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | Reduce -39.9% | 0.20% | −0.20 |
| V Visa Inc. Class A | Reduce -0.7% | 0.68% | −0.20 |
| JPM JPMorgan Chase & Co. | Reduce -1.0% | 1.03% | −0.20 |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | Reduce -76.5% | 0.04% | −0.18 |
| MA Mastercard Inc. Class A | Reduce -0.7% | 0.54% | −0.18 |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | Sold out | 0.00% | −0.17 |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | Reduce -28.5% | 0.26% | −0.15 |
| YHNA YHN Acquisition I Ltd. | Sold out | 0.00% | −0.15 |
| XOM Exxon Mobil Corp. | Reduce -1.1% | 0.59% | −0.13 |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | Sold out | 0.00% | −0.13 |
| COST Costco Wholesale Corp. | Reduce -0.1% | 0.49% | −0.13 |
| PG The Procter & Gamble Co. | Reduce -0.3% | 0.42% | −0.13 |
| AFJK Aimei Health Technology Co. | Sold out | 0.00% | −0.12 |
| AAPL Apple Inc. | Reduce -0.5% | 4.97% | −0.12 |
| ASPC A Spac III Acquisition Class A | Sold out | 0.00% | −0.12 |
| RIBB Ribbon Acquisition Corp. | Reduce -97.9% | 0.00% | −0.12 |
| CVX Chevron Corp. | Reduce -1.7% | 0.34% | −0.11 |
| LIN Linde PLC | Reduce -0.5% | 0.23% | −0.10 |
| AFSC Abrdn FCSD US SC A ETF | Reduce -60.0% | 0.05% | −0.10 |
| KCHV Kochav Defense Acquisition-A | Reduce -29.8% | 0.13% | −0.10 |
| CRM Salesforce Inc. | Reduce -0.5% | 0.26% | −0.10 |
| GSRF GSR IV Acquisition Corp. Class A | Reduce -79.8% | 0.02% | −0.10 |
| HSPOF Horizon Space Acquisition I | Sold out | 0.00% | −0.09 |
| DIS The Walt Disney Co. | Reduce -0.7% | 0.22% | −0.09 |
| PM Philip Morris International | Reduce -0.0% | 0.30% | −0.09 |
| TXN Texas Instruments Inc. | Reduce -0.1% | 0.18% | −0.09 |
| T AT&T Inc. | Reduce -0.9% | 0.22% | −0.09 |
| SOCA Solarius Capital Acquis Class A | Reduce -83.0% | 0.02% | −0.09 |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | Sold out | 0.00% | −0.08 |
| NOW ServiceNow Inc. | Reduce -0.3% | 0.20% | −0.08 |
| BKNG Booking Holdings Inc. | Reduce -0.6% | 0.19% | −0.08 |
| BAC Bank of America Corp. | Reduce -1.4% | 0.43% | −0.08 |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | Sold out | 0.00% | −0.07 |
| FISV Fiserv Inc. | Reduce -1.1% | 0.04% | −0.07 |
| ABT Abbott Laboratories | Reduce -0.1% | 0.27% | −0.07 |
| SSEAU Starry Sea Acquisition Corp. | Sold out | 0.00% | −0.07 |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | Sold out | 0.00% | −0.07 |
| UBER Uber Technologies Inc. | Reduce -0.4% | 0.22% | −0.07 |
| INAC Indigo Acquisition Corp. | Reduce -61.8% | 0.03% | −0.07 |
| CMCSA Comcast Corp. Class A | Reduce -1.3% | 0.12% | −0.07 |
| SPGI S&P Global Inc. | Reduce -0.8% | 0.19% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -0.0% | 0.21% | −0.07 |
Portfolio Buys Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +452.6% | 15.68% | +12.32 |
| SNOWFLAKE INC (SNOW 0 10/01/27) | New | 0.36% | +0.36 |
| AVGO Broadcom Inc. | Add +0.4% | 2.29% | +0.23 |
| SBXDF Silverbox Corp. IV-A | Add +461.2% | 0.29% | +0.22 |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | New | 0.22% | +0.22 |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | New | 0.17% | +0.17 |
| SCIIU SC II Acquisition Corp. | New | 0.17% | +0.17 |
| ANSC Agriculture & Natural Soluti | Add +70.6% | 0.53% | +0.16 |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | New | 0.14% | +0.14 |
| YCY Aa Mission Acquisition-A | New | 0.13% | +0.13 |
| HDRN Hadron Energy Inc. | Add +747.7% | 0.15% | +0.13 |
| FORD MOTOR COMPANY (F 0 03/15/26) | New | 0.12% | +0.12 |
| MU Micron Technology Inc. | Add +0.3% | 0.32% | +0.12 |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | Add +231.6% | 0.19% | +0.12 |
| QUMS Quantumsphere Acquisition Co. | New | 0.12% | +0.12 |
| SSEA Starry Sea Acquisition Corp. | New | 0.11% | +0.11 |
| ALF Centurion Acquisition Corp. | Add +194.0% | 0.19% | +0.11 |
| CRH CRH PLC | New | 0.10% | +0.10 |
| GIW GIGCAPITAL8 Corp. Class A | New | 0.09% | +0.09 |
| APAC Stonebridge Acquisition Class A | New | 0.09% | +0.09 |
| CRAC Crown Reserve Acquisiti Class A | New | 0.08% | +0.08 |
| AIIA AI Infrastructure Ac-A | New | 0.08% | +0.08 |
| MCGA Yorkville Acquisition Corp. Class A | Add +916.9% | 0.09% | +0.08 |
| CVNA Carvana Co. | New | 0.08% | +0.08 |
| MLAC Mountain Lake Acquisition-A | Add +123.5% | 0.16% | +0.08 |
| CAEP Cantor Equity Partners III-A | Add +570.3% | 0.09% | +0.08 |
| TSLA Tesla Inc. | Add +0.1% | 1.46% | +0.07 |
| EVERGY INC (EVRG 4.5 12/15/27) | Add +58.9% | 0.26% | +0.07 |
| FIRSTENERGY CORP (FE 4 05/01/26) | New | 0.07% | +0.07 |
| BPACU Blueport Acquisition Ltd. | New | 0.07% | +0.07 |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | New | 0.06% | +0.06 |
| INTC Intel Corp. | Add +2.4% | 0.22% | +0.06 |
| STRATEGY INC (MSTR 0.625 09/15/28) | Add +200.0% | 0.16% | +0.06 |
| LKSP Lake Superior Acquisiti Class A | New | 0.06% | +0.06 |
| HCMA HCM III Acquisition Cor Class A | Add +89.5% | 0.09% | +0.06 |
| SIMA Sim Acquisition Corp. I-A | Add +135.3% | 0.11% | +0.06 |
| LAFA Lafayette Acquisition Corp. | New | 0.05% | +0.05 |
| LPAA Launch One Acquisition Corp. | Add +51.3% | 0.25% | +0.05 |
| POST HOLDINGS INC (POST 2.5 08/15/27) | New | 0.05% | +0.05 |
| FTW Eqv Ventures Acquisition C-A | Add +66.8% | 0.17% | +0.05 |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | New | 0.05% | +0.05 |
| ARES Ares Management Corp. Class A | New | 0.04% | +0.04 |
| VACH Voyager Acquisition Corp. | Add +52.0% | 0.20% | +0.04 |
| FIX Comfort Systems USA Inc. | New | 0.04% | +0.04 |
| SNDK Sandisk Corp. | New | 0.04% | +0.04 |
| KOYN CSLM Digital Asset Acqu - A | Add +63.4% | 0.04% | +0.04 |
| AMD Advanced Micro Devices | Add +0.3% | 0.43% | +0.04 |
| BDCI BTC Development Corp. Class A | Add +337.2% | 0.05% | +0.04 |
| TACO Berto Acquisition Corp. | Add +240.8% | 0.06% | +0.04 |
| POLE Andretti Acquisition Corp. Class A | Add +102.7% | 0.09% | +0.04 |
Options Activity Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -99.9% | 125 | $259K |
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
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +171.0% | 135,500 | $7.7M |
| SVIRF Spring Valley Acquisit-Right | RIGHT 02/25/2026 | Sold out | 100,000 | $55Kbefore exit |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | Reduce -2.2% | 79,989 | $20K |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | New | 30,000 | $19K |
| COLAR Columbus Acquisition Corp. | RIGHT 99/99/9999 | Reduce -41.8% | 58,195 | $17K |
| QSEAR Quartzsea Acquisition Corp. | RIGHT 02/18/2030 | Sold out | 65,254 | $16Kbefore exit |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | Sold out | 100,000 | $14Kbefore exit |
| HSPTR Horizon Space Acquisition II | RIGHT 03/30/2026 | Sold out | 100,000 | $12Kbefore exit |
| NOEMR CO2 Energy Transition Co.-RTS | RIGHT 10/15/2028 | Reduce -0.5% | 99,800 | $12K |
| BSAAR Best Spac I Acquisition - RT | RIGHT 05/27/2030 | Sold out | 100,000 | $10Kbefore exit |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | Sold out | 100,000 | $10Kbefore exit |
| WTGUR Wintergreen Acquisition-RT | RIGHT 99/99/9999 | Sold out | 100,000 | $10Kbefore exit |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | Sold out | 62,341 | $9Kbefore exit |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | Sold out | 50,100 | $8Kbefore exit |
| PGACR Pantages Capital Acquis-RT | RIGHT 11/15/2029 | Sold out | 49,931 | $7Kbefore exit |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | Reduce -25.7% | 36,400 | $7K |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | New | 26,243 | $7K |
| NMPAR NMP Acquisition Corp. | RIGHT 06/27/2030 | Reduce -30.0% | 34,114 | $7K |
| QUMSR Quantumsphere Acquisition Co. | RIGHT 08/06/2030 | Sold out | 357,801 | $6Kbefore exit |
| RDACR Rising Dragon Acquisition Co. | RIGHT 11/15/2028 | Sold out | 41,647 | $6Kbefore exit |
| APACR Stonebridge Acquisition II C | RIGHT 09/09/2030 | Reduce -30.3% | 52,312 | $6K |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | Sold out | 54,200 | $5Kbefore exit |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | New | 21,344 | $5K |
| SCAGW Scage Future -30 | *W EXP 05/15/203 | Sold out | 74,000 | $4Kbefore exit |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | Reduce -78.3% | 21,743 | $3K |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | Sold out | 25,000 | $3Kbefore exit |
| FVNNR Future Vision II Acquisi-RTS | RIGHT 06/29/2029 | Sold out | 25,773 | $1Kbefore exit |
| FORLW Four Leaf Acquisition Cor-28 | *W EXP 03/15/202 | Sold out | 54,877 | $1Kbefore exit |
| HSPWF Horizon Space Acquisition-28 | *W EXP 12/27/202 | Sold out | 50,000 | $500before exit |
| GGROW Gogoro Inc. -CW27 | *W EXP 04/04/202 | New | 12,913 | $155 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.