Morgan Stanley
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed May 27, 2026), Morgan Stanley reported 7,913 stock positions worth $1.67 trillion. Its top holding was Apple (AAPL) at 3.7% of the portfolio, followed by Nvidia (NVDA, 3.6%) and Microsoft (MSFT, 3.5%). Compared with Q3 2025, it opened 427 new positions, sold out of 389, added to 3,932 and reduced 2,935. The biggest buy was Alphabet Class C (GOOG, shares +2%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0000895421
- Portfolio Value
- $1.67T (Q4 2025)
- SEC Filing
- 0000895421-26-000187 ↗ filed May 27, 2026
Holdings Value
Holdings 7,913 stocks · $1.67T
| AAPL Apple Inc. | 3.74% | 230,483,035 | $62.7B | Add +0.6% |
| NVDA Nvidia Corp. | 3.61% | 323,733,984 | $60.4B | Add +0.2% |
| MSFT Microsoft Corp. | 3.50% | 121,220,561 | $58.6B | Add +0.8% |
| GOOGL Alphabet Inc. Class A | 2.28% | 121,794,366 | $38.1B | Reduce -0.1% |
| AMZN Amazon.com Inc. | 2.23% | 161,580,340 | $37.3B | Reduce -0.8% |
| AVGO Broadcom Inc. | 1.51% | 72,964,756 | $25.3B | Reduce -0.1% |
| META Meta Platforms Inc. Class A | 1.48% | 37,553,102 | $24.8B | Add +2.2% |
| GOOG Alphabet Inc. Class C | 1.35% | 71,841,419 | $22.5B | Add +1.6% |
| JPM JPMorgan Chase & Co. | 1.28% | 66,385,268 | $21.4B | Add +1.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.19% | 29,324,506 | $20.0B | Reduce -27.9% |
| LLY Eli Lilly & Co. | 1.00% | 15,593,019 | $16.8B | Add +2.7% |
| IVV iShares Core S&P 500 ETF | 0.98% | 24,028,236 | $16.5B | Reduce -1.2% |
| V Visa Inc. Class A | 0.98% | 46,863,081 | $16.4B | Reduce -2.5% |
| TSLA Tesla Inc. | 0.96% | 35,783,015 | $16.1B | Reduce -1.0% |
| VOO Vanguard S&P 500 ETF | 0.92% | 24,568,372 | $15.4B | Reduce -3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.79% | 26,280,201 | $13.2B | Reduce -1.1% |
| IWF iShares Russell 1000 Growth | 0.78% | 27,636,174 | $13.1B | Add +2.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.59% | 16,041,841 | $9.9B | Reduce -34.7% |
| JNJ Johnson & Johnson | 0.57% | 46,325,589 | $9.6B | Reduce -4.0% |
| WMT Walmart Inc. | 0.56% | 84,273,016 | $9.4B | Reduce -1.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.56% | 104,883,248 | $9.4B | Add +4.9% |
| BND Vanguard Total Bond Market | 0.55% | 124,929,480 | $9.3B | Add +15.0% |
| MA Mastercard Inc. Class A | 0.55% | 16,046,550 | $9.2B | Add +0.8% |
| ABBV Abbvie Inc. | 0.55% | 40,041,940 | $9.1B | Reduce -3.9% |
| XOM Exxon Mobil Corp. | 0.54% | 74,457,855 | $9.0B | Reduce -0.6% |
| IWD iShares Russell 1000 Value E | 0.50% | 39,663,587 | $8.3B | Add +9.0% |
| COST Costco Wholesale Corp. | 0.49% | 9,523,423 | $8.2B | Add +1.1% |
| NFLX Netflix Inc. | 0.48% | 85,349,973 | $8.0B | Add +0.3% |
| HD Home Depot Inc. | 0.45% | 22,113,754 | $7.6B | Reduce -1.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.42% | 14,385,761 | $7.0B | Reduce -2.6% |
| PG The Procter & Gamble Co. | 0.42% | 48,823,274 | $7.0B | Reduce -4.9% |
| IEMG iShares Core MSCI Emerging | 0.41% | 102,793,787 | $6.9B | Add +4.0% |
| TMO Thermo Fisher Scientific Inc. | 0.41% | 11,894,277 | $6.9B | Reduce -6.5% |
| GS Goldman Sachs Group Inc. | 0.39% | 7,462,643 | $6.6B | Reduce -3.0% |
| UBER Uber Technologies Inc. | 0.39% | 80,196,924 | $6.6B | Add +2.3% |
| KO The Coca-Cola Co. | 0.39% | 93,199,753 | $6.5B | Reduce -2.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.38% | 33,171,922 | $6.3B | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 112,791,313 | $6.2B | Add +9.9% |
| RSP Invesco S&P 500 Equal Weight | 0.36% | 31,346,217 | $6.0B | Add +7.9% |
| CSCO Cisco Systems Inc. | 0.35% | 75,326,258 | $5.8B | Add +0.3% |
| VEA Vanguard Ftse Developed ETF | 0.34% | 90,491,038 | $5.7B | Add +44.0% |
| PANW Palo Alto Networks Inc. | 0.34% | 30,462,984 | $5.6B | Reduce -1.0% |
| CVX Chevron Corp. | 0.33% | 36,305,638 | $5.5B | Reduce -0.8% |
| GLD SPDR Gold Shares | 0.33% | 13,893,741 | $5.5B | Add +22.4% |
| RTX RTX Corp. | 0.33% | 29,783,584 | $5.5B | Add +0.3% |
| AMD Advanced Micro Devices | 0.32% | 25,041,819 | $5.4B | Reduce -16.7% |
| ORCL Oracle Corp. | 0.32% | 27,125,099 | $5.3B | Add +1.9% |
| NEE Nextera Energy Inc. | 0.32% | 65,670,440 | $5.3B | Reduce -0.6% |
| UNH Unitedhealth Group Inc. | 0.31% | 15,790,095 | $5.2B | Add +3.6% |
| PLTR Palantir Technologies Inc. Class A | 0.31% | 29,206,906 | $5.2B | Reduce -3.4% |
| AMGN Amgen Inc. | 0.31% | 15,744,528 | $5.2B | Reduce -1.0% |
| BX Blackstone Inc. | 0.30% | 32,862,165 | $5.1B | Add +2.0% |
| CRM Salesforce Inc. | 0.30% | 19,009,146 | $5.0B | Reduce -0.9% |
| WFC Wells Fargo & Co. | 0.30% | 53,574,153 | $5.0B | Reduce -2.9% |
| AXP American Express Co. | 0.29% | 13,199,234 | $4.9B | Reduce -0.3% |
| MRK Merck & Co. Inc. | 0.28% | 44,946,021 | $4.7B | Add +0.8% |
| MU Micron Technology Inc. | 0.28% | 16,396,655 | $4.7B | Add +5.1% |
| MCD McDonald's Corp. | 0.28% | 15,270,740 | $4.7B | Reduce -1.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.28% | 13,792,394 | $4.6B | Reduce -0.1% |
| ABT Abbott Laboratories | 0.27% | 36,727,533 | $4.6B | Reduce -4.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 14,859,806 | $4.4B | Reduce -7.3% |
| SPGI S&P Global Inc. | 0.26% | 8,333,099 | $4.4B | Add +3.3% |
| GE General Electric filed as GE AEROSPACE | 0.26% | 13,924,762 | $4.3B | Add +2.5% |
| SHOP Shopify Inc. Class A | 0.25% | 26,453,143 | $4.3B | Reduce -9.7% |
| IWM iShares Russell 2000 ETF | 0.25% | 17,121,140 | $4.2B | Reduce -5.7% |
| IVW iShares S&P 500 Growth ETF | 0.25% | 33,646,152 | $4.1B | Add +0.6% |
| ETN Eaton Corp. PLC | 0.25% | 12,978,790 | $4.1B | Add +1.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.25% | 13,513,371 | $4.1B | Reduce -10.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 26,541,902 | $4.1B | Reduce -2.1% |
| CAT Caterpillar Inc. | 0.24% | 7,075,119 | $4.1B | Reduce -2.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 35,447,892 | $4.0B | Reduce -2.8% |
| DASH DoorDash Inc. Class A | 0.24% | 17,536,824 | $4.0B | Add +2.3% |
| GEV GE Vernova Inc. | 0.24% | 6,054,474 | $4.0B | Add +12.8% |
| SPOT Spotify Technology SA | 0.23% | 6,600,718 | $3.8B | Reduce -2.5% |
| HON Honeywell International Inc. | 0.23% | 19,425,421 | $3.8B | Add +4.7% |
| PM Philip Morris International | 0.22% | 23,419,685 | $3.8B | Reduce -4.2% |
| BLK BlackRock Inc. | 0.22% | 3,508,220 | $3.8B | Add +0.1% |
| APP AppLovin Corp. Class A | 0.22% | 5,561,646 | $3.7B | Add +10.7% |
| PEP Pepsico Inc. | 0.21% | 24,956,082 | $3.6B | Add +0.1% |
| NET Cloudflare Inc. Class A | 0.21% | 18,009,245 | $3.6B | Reduce -5.3% |
| MELI MercadoLibre Inc. | 0.21% | 1,729,499 | $3.5B | Reduce -13.0% |
| NOW ServiceNow Inc. | 0.21% | 22,733,483 | $3.5B | Reduce -12.9% |
| LRCX Lam Research Corp. | 0.20% | 19,886,007 | $3.4B | Add +0.1% |
| INTU Intuit Inc. | 0.20% | 5,100,857 | $3.4B | Add +1.2% |
| ISRG Intuitive Surgical Inc. | 0.19% | 5,741,035 | $3.3B | Reduce -8.9% |
| AGG iShares Core U.S. Aggregate | 0.19% | 32,483,415 | $3.2B | Add +4.0% |
| IVE iShares S&P 500 Value ETF | 0.19% | 15,278,856 | $3.2B | Add +7.5% |
| QCOM Qualcomm Inc. | 0.19% | 18,615,425 | $3.2B | Reduce -0.6% |
| BKNG Booking Holdings Inc. | 0.19% | 594,231 | $3.2B | Reduce -13.5% |
| C Citigroup Inc. | 0.19% | 26,961,521 | $3.1B | Reduce -1.4% |
| JPST JPMorgan Ultra-Short Income | 0.19% | 61,468,768 | $3.1B | Add +2.4% |
| EFA iShares MSCI Eafe ETF | 0.18% | 31,617,599 | $3.0B | Add +15.5% |
| LIN Linde PLC | 0.18% | 7,086,440 | $3.0B | Reduce -5.8% |
| AMAT Applied Materials Inc. | 0.18% | 11,470,835 | $2.9B | Add +3.4% |
| UNP Union Pacific Corp. | 0.17% | 12,636,050 | $2.9B | Add +5.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.17% | 6,216,679 | $2.9B | Reduce -3.8% |
| VWO Vanguard Ftse Emerging Marke | 0.17% | 53,912,443 | $2.9B | Add +5.7% |
| GILD Gilead Sciences Inc. | 0.17% | 23,512,734 | $2.9B | Reduce -0.9% |
| CEG Constellation Energy | 0.17% | 8,054,637 | $2.8B | Add +0.5% |
| ADI Analog Devices Inc. | 0.17% | 10,450,624 | $2.8B | Add +1.9% |
Other holdings (283): bonds, preferreds, convertibles and warrants · $1.2B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 46,901 | $56.8M | Reduce -2.7% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 39,558 | $49.5M | Add +4.8% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 34,990,000 | $33.8M | Reduce -3.8% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 20,780,000 | $32.3M | Reduce -35.7% |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 352,242 | $28.2M | Add +741.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 27,370,000 | $27.0M | Add +12.3% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 26,938,000 | $27.0M | Add +15.0% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 18,452,000 | $23.2M | Add +24.3% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 17,562,000 | $22.8M | Add +8.1% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 20,001,000 | $18.9M | Add +6.0% |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 16,340,000 | $16.3M | New |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 12,906,000 | $15.9M | Reduce -13.7% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 14,889,000 | $15.3M | Reduce -20.6% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 371,154 | $15.2M | Add +93.7% |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 13,585,000 | $15.0M | New |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 11,482,000 | $14.6M | Add +3.3% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 15,135,000 | $14.5M | Add +4.2% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 10,849,000 | $14.4M | Add +2.8% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 12,607,000 | $13.8M | Reduce -2.0% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 13,345,000 | $13.7M | Add +3.9% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 13,826,000 | $13.3M | New |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 15,916,000 | $13.0M | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 9,760,000 | $13.0M | Reduce -30.1% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 9,875,000 | $12.5M | Reduce -21.8% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 12,764,000 | $12.4M | Add +392.3% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 13,745,000 | $12.3M | Reduce -11.4% |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 11,741,000 | $11.8M | Add +7.1% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 11,576,000 | $11.7M | Reduce -7.3% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 11,240,000 | $11.6M | Reduce -18.8% |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | 13,835,000 | $11.5M | New |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 8,855,000 | $11.3M | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 11,438,000 | $11.3M | Reduce -1.6% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 10,658,000 | $10.9M | Reduce -14.7% |
| T1 ENERGY INC | *W EXP 07/09/202 | 9,236,836 | $10.8M | No change |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 7,202,000 | $10.7M | Reduce -29.0% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 10,095,000 | $10.6M | Add +84.6% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 8,560,000 | $10.6M | Add +4.1% |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 191,149 | $10.5M | Reduce -22.4% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 175,554 | $10.4M | Reduce -40.1% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 8,850,000 | $10.2M | Add +15.2% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 9,550,000 | $10.2M | Add +7.3% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 11,010,000 | $10.1M | New |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 8,151,000 | $9.6M | Reduce -25.1% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 9,365,000 | $9.5M | Add +14.5% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 8,635,000 | $9.3M | Add +6.9% |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 8,408,000 | $9.1M | New |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 9,445,000 | $9.0M | Add +5.2% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 134,150 | $8.9M | Add +27.9% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 7,584,000 | $8.8M | Reduce -64.7% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 7,711,000 | $8.8M | Add +17.1% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 8,940,000 | $8.8M | Add +6.9% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 8,285,000 | $8.6M | Add +6.0% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 7,020,000 | $8.5M | Reduce -52.7% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 9,248,000 | $8.5M | Add +5.5% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 7,496,000 | $8.5M | Reduce -30.8% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 104,760 | $7.9M | Reduce -16.9% |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 8,374,000 | $7.9M | Add +1.6% |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 8,015,000 | $7.8M | Add +4.4% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 149,595 | $7.7M | Reduce -50.1% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 154,081 | $7.6M | Reduce -4.4% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 7,657,000 | $7.5M | Reduce -7.8% |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 7,085,000 | $7.4M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 6,500,000 | $7.1M | Add +13.2% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 7,111,000 | $7.1M | Add +4.0% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 2,485,000 | $7.1M | Reduce -57.4% |
| BLACKBERRY LTD (BBCN 3 02/15/29) | NOTE 3.000% 2/1 · principal | 5,500,000 | $6.9M | No change |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 6,924,000 | $6.8M | Add +18.7% |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 7,210,000 | $6.6M | Add +2.3% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,370,000 | $6.3M | Reduce -52.9% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 4,044,000 | $6.2M | Reduce -34.1% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 5,444,000 | $6.1M | Add +149.3% |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 5,700,000 | $6.0M | New |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 6,577,000 | $5.9M | Reduce -42.5% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 5,754,000 | $5.8M | Reduce -19.9% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 3,955,000 | $5.6M | Add +7.8% |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 14,815 | $5.4M | Add +23.5% |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 6,820,000 | $5.3M | New |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 4,422,000 | $5.3M | Add +186.8% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 5,471,000 | $5.3M | Reduce -48.8% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 4,983,000 | $5.1M | Reduce -1.6% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 4,943,000 | $5.1M | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 67,300 | $4.6M | Reduce -32.4% |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 6,900,000 | $4.6M | No change |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 4,655,000 | $4.4M | No change |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 4,202,000 | $4.2M | Add +31.2% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 4,051,000 | $4.0M | Add +627.3% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 3,918,000 | $3.9M | New |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 46,295 | $3.6M | Reduce -31.0% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 3,398,000 | $3.6M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 3,335,000 | $3.5M | Reduce -52.4% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 3,341,000 | $3.3M | Add +1491.0% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 3,244,000 | $3.2M | Add +16.4% |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 3,225,000 | $3.2M | No change |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 2,191,000 | $3.1M | Reduce -44.5% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 3,365,000 | $3.0M | Reduce -13.8% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 3,005,000 | $3.0M | Add +22.4% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 2,699,000 | $2.7M | No change |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 20,935 | $2.6M | Reduce -40.1% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 2,855,000 | $2.6M | Add +318.6% |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 2,370,000 | $2.5M | No change |
| JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) | NOTE 2.500% 9/0 · principal | 2,611,000 | $2.5M | New |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | 50,000 | $2.5M | New |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 2,703,000 | $2.5M | No change |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 1,752,000 | $2.4M | Add +397.7% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 2,461,000 | $2.4M | Reduce -59.7% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 2,430,000 | $2.3M | New |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 2,487,000 | $2.3M | Add +17.3% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 1,541,000 | $2.2M | Reduce -56.0% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 54,268 | $2.2M | Add +33.6% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 2,210,000 | $2.1M | Add +7.3% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 1,867,000 | $2.1M | Reduce -22.1% |
| SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) | NOTE 3.500%12/0 · principal | 750,000 | $2.1M | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 39,504 | $2.0M | Reduce -82.6% |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | 2,520,000 | $2.0M | Reduce -10.6% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 2,026,000 | $2.0M | Add +15.4% |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 2,106,000 | $2.0M | No change |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 2,056,000 | $2.0M | No change |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 1,305,000 | $1.9M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 1,310,000 | $1.8M | Reduce -75.9% |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 1,880,000 | $1.8M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 1,947,000 | $1.8M | Add +137.4% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 1,539,000 | $1.7M | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 88,322 | $1.7M | Add +16.1% |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 1,731,000 | $1.7M | Reduce -12.6% |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 1,585,000 | $1.6M | Reduce -76.3% |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 1,463,000 | $1.5M | No change |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 1,650,000 | $1.5M | Add +28.4% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 1,500,000 | $1.5M | No change |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 1,012,000 | $1.5M | Add +1.2% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 30,630 | $1.5M | Add +5.3% |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 1,464,000 | $1.5M | Add +77.7% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 1,280,000 | $1.5M | New |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 950,000 | $1.4M | Reduce -67.8% |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 1,470,000 | $1.3M | Reduce -89.0% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 571,000 | $1.2M | No change |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 806,000 | $1.1M | No change |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 727,000 | $1.1M | Add +2.3% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 1,130,000 | $1.1M | No change |
| ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) | NOTE 4.250%11/1 · principal | 720,000 | $1.1M | New |
| VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26) | NOTE 1.625% 3/1 · principal | 809,000 | $1.1M | Reduce -78.2% |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 837,000 | $1.1M | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 1,072,000 | $1.0M | Reduce -78.4% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 603,000 | $1.0M | Add +8.1% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 1,000,000 | $998K | Reduce -92.9% |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 278,000 | $970K | Reduce -67.1% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 225,000 | $927K | No change |
| SUNRUN INC (RUN 0 02/01/26) | NOTE 2/0 · principal | 950,000 | $898K | No change |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 700,000 | $866K | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 823,000 | $821K | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 895,608 | $806K | Add +143.6% |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 261,243 | $786K | Reduce -6.2% |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 10/28/203 | 342,279 | $726K | New |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 6,894 | $687K | Add +363.9% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 25,777 | $642K | Add +1.9% |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | 500,000 | $637K | New |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 581,000 | $593K | No change |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 26,461 | $587K | Add +0.9% |
| WEIBO CORP (WB 1.375 12/01/30) | NOTE 1.375%12/0 · principal | 500,000 | $579K | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 10,901 | $549K | Reduce -68.8% |
| ZYNGA INC (ZNGA 0 12/15/26) | NOTE 12/1 · principal | 500,000 | $548K | No change |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 482,000 | $533K | Reduce -17.2% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 200,000 | $516K | Add +66.7% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 310,000 | $516K | Reduce -87.0% |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 191,000 | $480K | Reduce -51.1% |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 351,000 | $471K | No change |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 315,000 | $467K | New |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 895,907 | $466K | New |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 135,086 | $451K | Reduce -97.5% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 420,000 | $366K | No change |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 895,907 | $358K | New |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 302,000 | $349K | Reduce -76.8% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 343,000 | $333K | Add +139.9% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 78,000 | $289K | Reduce -96.8% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 262,000 | $286K | Reduce -87.5% |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 613,000 | $259K | No change |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 250,000 | $246K | New |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 256,000 | $236K | No change |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 244,000 | $227K | No change |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 223,000 | $226K | No change |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 120,000 | $219K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 222,000 | $209K | No change |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 188,000 | $202K | No change |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 6,221 | $186K | Reduce -3.9% |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 178,000 | $180K | No change |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 120,000 | $176K | New |
| XOMETRY INC (XMTR 1 02/01/27) | NOTE 1.000% 2/0 · principal | 140,000 | $176K | No change |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | 150,000 | $174K | No change |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 171,000 | $173K | Reduce -93.9% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 8,381 | $160K | Reduce -1.6% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 94,000 | $149K | Reduce -99.3% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 142,000 | $135K | Reduce -0.7% |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 160,000 | $129K | No change |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 127,000 | $119K | No change |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 2,371 | $112K | Add +3.7% |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 1,851,000 | $111K | Reduce -13.7% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 80,000 | $110K | New |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 65,000 | $104K | Reduce -97.4% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 50,000 | $102K | No change |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 100,000 | $102K | No change |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 8,062 | $99K | Reduce -90.5% |
Largest 200 of 283 shown.
Total filed on the 13F, all lines: $1.67T.
Portfolio Sells Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -27.9% | 1.19% | −0.45 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -34.7% | 0.59% | −0.30 |
| HD Home Depot Inc. | Reduce -1.7% | 0.45% | −0.10 |
| NOW ServiceNow Inc. | Reduce -12.9% | 0.21% | −0.08 |
| MELI MercadoLibre Inc. | Reduce -13.0% | 0.21% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -4.9% | 0.42% | −0.06 |
| ACN Accenture PLC Class A | Reduce -37.4% | 0.12% | −0.06 |
| SPOT Spotify Technology SA | Reduce -2.5% | 0.23% | −0.06 |
| ADP Automatic Data Processing | Reduce -14.2% | 0.16% | −0.06 |
| CPNG Coupang Inc. | Reduce -13.6% | 0.08% | −0.05 |
| TMUS T-Mobile US Inc. | Reduce -8.9% | 0.15% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -15.9% | 0.16% | −0.05 |
| IONQ Ionq Inc. | Reduce -25.7% | 0.05% | −0.05 |
| PANW Palo Alto Networks Inc. | Reduce -1.0% | 0.34% | −0.04 |
| AJG Arthur J Gallagher & Co. | Reduce -9.5% | 0.12% | −0.04 |
| BSV Vanguard Short-Term Bond ETF | Reduce -20.9% | 0.14% | −0.04 |
| ABT Abbott Laboratories | Reduce -4.9% | 0.27% | −0.04 |
| ABBV Abbvie Inc. | Reduce -3.9% | 0.55% | −0.04 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -20.9% | 0.13% | −0.04 |
| LIN Linde PLC | Reduce -5.8% | 0.18% | −0.04 |
| NET Cloudflare Inc. Class A | Reduce -5.3% | 0.21% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -13.5% | 0.19% | −0.03 |
| ZTS Zoetis Inc. | Reduce -8.7% | 0.12% | −0.03 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -29.7% | 0.09% | −0.03 |
| SHW The Sherwin-Williams Co. | Reduce -13.7% | 0.12% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -20.9% | 0.06% | −0.03 |
| T AT&T Inc. | Reduce -2.6% | 0.16% | −0.03 |
| ROP Roper Technologies Inc. | Reduce -13.7% | 0.09% | −0.03 |
| SBUX Starbucks Corp. | Reduce -18.8% | 0.11% | −0.03 |
| MTB M & T Bank Corp. | Reduce -35.7% | 0.05% | −0.03 |
| PGR Progressive Corp. | Reduce -8.2% | 0.13% | −0.03 |
| AUR Aurora Innovation Inc. | Reduce -11.2% | 0.04% | −0.02 |
| LNG Cheniere Energy Inc. | Reduce -7.0% | 0.08% | −0.02 |
| PLTR Palantir Technologies Inc. Class A | Reduce -3.4% | 0.31% | −0.02 |
| MDY State Street SPDR S&P Midcap | Reduce -37.3% | 0.04% | −0.02 |
| URI United Rentals Inc. | Reduce -9.2% | 0.08% | −0.02 |
| FAST Fastenal Co. | Reduce -16.4% | 0.05% | −0.02 |
| VOO Vanguard S&P 500 ETF | Reduce -3.5% | 0.92% | −0.02 |
| CSGP Costar Group Inc. | Reduce -38.1% | 0.02% | −0.02 |
| ANET Arista Networks Inc. | Reduce -2.4% | 0.14% | −0.02 |
| ORLY O'reilly Automotive Inc. | Reduce -4.4% | 0.09% | −0.02 |
| CRWV Coreweave Inc. Class A | Reduce -26.7% | 0.01% | −0.02 |
| XLF SS Financial Select Sector | Reduce -13.7% | 0.13% | −0.02 |
| ARKK ARK Innovation ETF | Reduce -38.1% | 0.02% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.1% | 0.79% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -6.4% | 0.16% | −0.02 |
| SAP Sap SE-Sponsored ADR | Reduce -18.8% | 0.05% | −0.02 |
| IWB iShares Russell 1000 ETF | Reduce -30.3% | 0.05% | −0.02 |
| VST Vistra Corp. | Reduce -1.7% | 0.08% | −0.02 |
| GRAB Grab Holdings Ltd. Class A | Reduce -22.4% | 0.03% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | Add +1.6% | 1.35% | +0.30 |
| LLY Eli Lilly & Co. | Add +2.7% | 1.00% | +0.30 |
| AAPL Apple Inc. | Add +0.6% | 3.74% | +0.21 |
| MU Micron Technology Inc. | Add +5.1% | 0.28% | +0.12 |
| VEA Vanguard Ftse Developed ETF | Add +44.0% | 0.34% | +0.11 |
| GLD SPDR Gold Shares | Add +22.4% | 0.33% | +0.08 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +116.6% | 0.15% | +0.08 |
| BND Vanguard Total Bond Market | Add +15.0% | 0.55% | +0.06 |
| MRK Merck & Co. Inc. | Add +0.8% | 0.28% | +0.06 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +95.9% | 0.10% | +0.05 |
| BAC Bank of America Corp. | Add +9.9% | 0.37% | +0.05 |
| IWD iShares Russell 1000 Value E | Add +9.0% | 0.50% | +0.05 |
| LRCX Lam Research Corp. | Add +0.1% | 0.20% | +0.04 |
| AMAT Applied Materials Inc. | Add +3.4% | 0.18% | +0.04 |
| MDLN Medline Inc. Class A | New | 0.04% | +0.04 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +120.2% | 0.07% | +0.04 |
| GEV GE Vernova Inc. | Add +12.8% | 0.24% | +0.04 |
| CSCO Cisco Systems Inc. | Add +0.3% | 0.35% | +0.04 |
| ROIV Roivant Sciences Ltd. | Add +31.7% | 0.08% | +0.04 |
| CGGR Cap Group Growth Equity | Add +94.6% | 0.07% | +0.03 |
| INTC Intel Corp. | Add +20.4% | 0.14% | +0.03 |
| RPRX Royalty Pharma PLC Class A | Add +25.2% | 0.13% | +0.03 |
| IEFA iShares Core MSCI Eafe ETF | Add +4.9% | 0.56% | +0.03 |
| WDC Western Digital Corp. | Add +6.5% | 0.09% | +0.03 |
| FCX Freeport-McMoran Inc. | Add +10.1% | 0.10% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +1.4% | 1.28% | +0.03 |
| EFA iShares MSCI Eafe ETF | Add +15.5% | 0.18% | +0.03 |
| RKT Rocket Cos Inc. Class A | Add +461.2% | 0.03% | +0.03 |
| RTX RTX Corp. | Add +0.3% | 0.33% | +0.03 |
| RSP Invesco S&P 500 Equal Weight | Add +7.9% | 0.36% | +0.02 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +288.0% | 0.03% | +0.02 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +155.9% | 0.04% | +0.02 |
| SNDK Sandisk Corp. | Add +7.2% | 0.04% | +0.02 |
| NDAQ Nasdaq Inc. | Add +62.6% | 0.05% | +0.02 |
| ONON On Holding AG Class A | Add +40.9% | 0.07% | +0.02 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +208.0% | 0.03% | +0.02 |
| PBUS Invesco MSCI USA ETF | Add +19.6% | 0.13% | +0.02 |
| SPGI S&P Global Inc. | Add +3.3% | 0.26% | +0.02 |
| ET Energy Transfer LP | Add +41.6% | 0.09% | +0.02 |
| VXUS Vanguard Total Intl Stock | Add +39.3% | 0.07% | +0.02 |
| TLT iShares 20+ Year Treasury BD | Add +31.3% | 0.10% | +0.02 |
| DG Dollar General Corp. | Add +35.0% | 0.05% | +0.02 |
| VCIT Vanguard Int-Term Corporate | Add +22.4% | 0.12% | +0.02 |
| XBI SS SPDR S&P Biotech ETF | Add +8.3% | 0.08% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +4.0% | 0.41% | +0.02 |
| COF Capital One Financial Corp. | Add +3.9% | 0.13% | +0.02 |
| ABVX Abivax SA-ADR | Add +114.3% | 0.03% | +0.02 |
| GM General Motors Co. | Add +3.9% | 0.06% | +0.02 |
| NEM Newmont Corp. | Add +11.6% | 0.07% | +0.02 |
| PFE Pfizer Inc. | Add +19.2% | 0.13% | +0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -2.7% | 46,901 | $56.8M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +4.8% | 39,558 | $49.5M |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Reduce -3.8% | 34,990,000 | $33.8M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -35.7% | 20,780,000 | $32.3M |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | Add +741.2% | 352,242 | $28.2M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +12.3% | 27,370,000 | $27.0M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Add +15.0% | 26,938,000 | $27.0M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +24.3% | 18,452,000 | $23.2M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +8.1% | 17,562,000 | $22.8M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +6.0% | 20,001,000 | $18.9M |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | New | 16,340,000 | $16.3M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Reduce -13.7% | 12,906,000 | $15.9M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -20.6% | 14,889,000 | $15.3M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Add +93.7% | 371,154 | $15.2M |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | New | 13,585,000 | $15.0M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Add +3.3% | 11,482,000 | $14.6M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Add +4.2% | 15,135,000 | $14.5M |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | Add +2.8% | 10,849,000 | $14.4M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -2.0% | 12,607,000 | $13.8M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +3.9% | 13,345,000 | $13.7M |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | New | 13,826,000 | $13.3M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Sold out | 10,769,000 | $13.1Mbefore exit |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | New | 15,916,000 | $13.0M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -30.1% | 9,760,000 | $13.0M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -21.8% | 9,875,000 | $12.5M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | Add +392.3% | 12,764,000 | $12.4M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -11.4% | 13,745,000 | $12.3M |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | Add +7.1% | 11,741,000 | $11.8M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Reduce -7.3% | 11,576,000 | $11.7M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -18.8% | 11,240,000 | $11.6M |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | New | 13,835,000 | $11.5M |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | Reduce -1.6% | 11,438,000 | $11.3M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Reduce -14.7% | 10,658,000 | $10.9M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Reduce -29.0% | 7,202,000 | $10.7M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Add +84.6% | 10,095,000 | $10.6M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Add +4.1% | 8,560,000 | $10.6M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | Reduce -22.4% | 191,149 | $10.5M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -40.1% | 175,554 | $10.4M |
| SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28) | NOTE 3.250%11/0 · principal | Sold out | 7,007,000 | $10.3Mbefore exit |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +15.2% | 8,850,000 | $10.2M |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Add +7.3% | 9,550,000 | $10.2M |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | New | 11,010,000 | $10.1M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Reduce -25.1% | 8,151,000 | $9.6M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +14.5% | 9,365,000 | $9.5M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Sold out | 9,551,000 | $9.5Mbefore exit |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Add +6.9% | 8,635,000 | $9.3M |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 8,408,000 | $9.1M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Add +5.2% | 9,445,000 | $9.0M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +27.9% | 134,150 | $8.9M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | Reduce -64.7% | 7,584,000 | $8.8M |
Showing the first 50 of 237.
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 | 8,129 | $1.89T | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q1 2026 | 8,025 | $1.66T | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q4 2025Amended | 7,913 | $1.67T | AAPL, NVDA, MSFT, GOOGL, AMZN |
| Q3 2025Amended | 7,873 | $1.65T | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q2 2025 | 7,795 | $1.53T | MSFT, NVDA, AAPL, AMZN, META |
| Q1 2025 | 7,800 | $1.40T | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024Amended | 7,656 | $1.43T | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q3 2024Amended | 7,608 | $1.38T | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024Amended | 7,546 | $1.29T | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q1 2024Amended | 7,505 | $1.25T | MSFT, AAPL, NVDA, AMZN, SPY |