Nicholas Investment Partners, LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Nicholas Investment Partners, LP reported 183 stock positions worth $1.0 billion. Its top holding was BWX Technologies (BWXT) at 3.5% of the portfolio, followed by Embraer SA-Spon ADR (EMBJ, 2.3%) and Evercore Class A (EVR, 2.2%). Compared with Q3 2024, it opened 32 new positions, sold out of 33, added to 64 and reduced 41. The biggest buy was a new position in Rush Street Interactive (RSI) and the biggest sale an exit from Transmedics (TMDX).
- Most Recent 13F
- Q2 2026
- Location
- RANCHO SANTA FE, CA
- CIK
- 0001389574
- Portfolio Value
- $1.0B (Q4 2024)
- SEC Filing
- 0001085146-25-001550 ↗ filed Feb 14, 2025
Holdings Value
Holdings 183 stocks · $1.0B
| BWXT BWX Technologies Inc. | 3.52% | 323,898 | $36.1M | Add +2.5% |
| EMBJ Embraer SA-Spon ADR | 2.32% | 648,085 | $23.8M | Add +11.0% |
| EVR Evercore Inc. Class A | 2.24% | 82,704 | $22.9M | Add +4.4% |
| FTAI Ftai Aviation Ltd. | 2.20% | 156,635 | $22.6M | Reduce -0.3% |
| ALAB Astera Labs Inc. | 1.93% | 149,271 | $19.8M | Add +55.2% |
| REVG Rev Group Inc. | 1.84% | 591,708 | $18.9M | Reduce -5.9% |
| MSFT Microsoft Corp. | 1.64% | 39,895 | $16.8M | Add +9.0% |
| AVGO Broadcom Inc. | 1.53% | 67,744 | $15.7M | No change |
| RSI Rush Street Interactive Inc. | 1.46% | 1,091,091 | $15.0M | New |
| ITCI Intra-Cellular Therapies Inc. | 1.44% | 176,870 | $14.8M | Add +14.3% |
| WAL Western Alliance Bancorp | 1.42% | 174,582 | $14.6M | Add +12.7% |
| TFII Tfi International Inc. | 1.42% | 107,291 | $14.5M | Add +0.7% |
| NVDA Nvidia Corp. | 1.39% | 105,994 | $14.2M | Reduce -0.8% |
| AMZN Amazon.com Inc. | 1.33% | 62,121 | $13.6M | No change |
| CORZ Core Scientific Inc. | 1.30% | 950,534 | $13.4M | Add +68.2% |
| SKT Tanger Inc. | 1.28% | 384,870 | $13.1M | Reduce -0.5% |
| ARES Ares Management Corp. Class A | 1.25% | 72,500 | $12.8M | No change |
| SKYW Skywest Inc. | 1.24% | 126,518 | $12.7M | Reduce -2.3% |
| INSM Insmed Inc. | 1.23% | 182,743 | $12.6M | Add +80.7% |
| BOOT Boot Barn Holdings Inc. | 1.20% | 81,093 | $12.3M | Add +81.9% |
| WIX Wix.com Ltd. | 1.19% | 56,725 | $12.2M | Add +3.6% |
| KRNT Kornit Digital Ltd. | 1.16% | 385,082 | $11.9M | Add +43.1% |
| WTFC Wintrust Financial Corp. | 1.15% | 94,535 | $11.8M | Add +3.6% |
| CVX Chevron Corp. | 1.15% | 81,350 | $11.8M | No change |
| XOM Exxon Mobil Corp. | 1.11% | 105,500 | $11.3M | No change |
| DSGX The Descartes Systems Grp | 1.10% | 99,559 | $11.3M | Add +3.3% |
| APPF Appfolio Inc. Class A | 1.07% | 44,330 | $10.9M | Reduce -13.2% |
| MTG Mgic Investment Corp. | 1.05% | 453,846 | $10.8M | Reduce -41.7% |
| IWM iShares Russell 2000 ETF | 1.02% | 47,331 | $10.5M | Add +156.6% |
| MOD Modine Manufacturing Co. | 1.02% | 89,769 | $10.4M | Add +4.1% |
| CLH Clean Harbors Inc. | 1.01% | 45,090 | $10.4M | Add +1.9% |
| ITRI Itron Inc. | 0.97% | 91,111 | $9.9M | Add +2.9% |
| SHAK Shake Shack Inc. Class A | 0.97% | 76,190 | $9.9M | New |
| PIPR Piper Sandler Cos | 0.96% | 32,916 | $9.9M | Add +3.2% |
| PRIM Primoris Services Corp. | 0.89% | 119,841 | $9.2M | Add +3.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.89% | 15,515 | $9.1M | No change |
| TDG Transdigm Group Inc. | 0.86% | 6,936 | $8.8M | Reduce -3.9% |
| GEV GE Vernova Inc. | 0.85% | 26,530 | $8.7M | No change |
| CDNS Cadence Design SYS Inc. | 0.85% | 28,867 | $8.7M | No change |
| PCVX Vaxcyte Inc. | 0.80% | 100,307 | $8.2M | Add +22.5% |
| OSIS Osi Systems Inc. | 0.79% | 48,299 | $8.1M | Add +3.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.76% | 177,313 | $7.8M | No change |
| AAON Aaon Inc. | 0.76% | 65,908 | $7.8M | Reduce -11.6% |
| WT Wisdomtree Inc. | 0.74% | 726,427 | $7.6M | Add +4.5% |
| MIR Mirion Technologies Inc. | 0.73% | 431,354 | $7.5M | Reduce -1.6% |
| WGS Genedx Holdings Corp. | 0.73% | 97,049 | $7.5M | Add +40.0% |
| GS Goldman Sachs Group Inc. | 0.73% | 13,000 | $7.4M | No change |
| MPWR Monolithic Power Systems Inc. | 0.72% | 12,486 | $7.4M | Reduce -27.5% |
| ALKT Alkami Technology Inc. | 0.72% | 200,013 | $7.3M | Add +46.8% |
| BILL Bill Holdings Inc. | 0.72% | 86,537 | $7.3M | New |
| SPSC SPS Commerce Inc. | 0.70% | 39,239 | $7.2M | Add +6.8% |
| VRNA Verona Pharma Ltd. | 0.70% | 154,814 | $7.2M | New |
| SNPS Synopsys Inc. | 0.69% | 14,549 | $7.1M | Reduce -4.6% |
| ARIS WATER SOLUTIONS INC-A | 0.68% | 290,758 | $7.0M | Add +6.2% |
| CCJ Cameco Corp. | 0.68% | 134,545 | $6.9M | Add +0.1% |
| FRPT Freshpet Inc. | 0.67% | 46,361 | $6.9M | Add +4.3% |
| ONTO Onto Innovation Inc. | 0.67% | 40,966 | $6.8M | Reduce -26.9% |
| ISRG Intuitive Surgical Inc. | 0.66% | 12,932 | $6.7M | No change |
| CRNX Crinetics Pharmaceuticals Inc. | 0.64% | 127,283 | $6.5M | Add +35.6% |
| SFM Sprouts Farmers Market Inc. | 0.63% | 50,660 | $6.4M | New |
| IWO iShares Russell 2000 Growth | 0.63% | 22,291 | $6.4M | Add +7.3% |
| XPO Xpo Inc. | 0.61% | 47,861 | $6.3M | No change |
| HQY Healthequity Inc. | 0.61% | 64,747 | $6.2M | New |
| MIRM Mirum Pharmaceuticals Inc. | 0.60% | 148,843 | $6.2M | Add +3.0% |
| EXE Expand Energy Corp. | 0.60% | 61,500 | $6.1M | No change |
| CR Crane Co. | 0.59% | 39,541 | $6.0M | Reduce -21.7% |
| NUVL Nuvalent Inc. Class A | 0.58% | 76,427 | $6.0M | Reduce -23.6% |
| MWA Mueller Water Products Inc. Class A | 0.58% | 264,267 | $5.9M | Add +4.2% |
| KVYO Klaviyo Inc. Class A | 0.57% | 140,555 | $5.8M | Add +63.4% |
| FN Fabrinet | 0.56% | 26,120 | $5.7M | Add +27.9% |
| WFRD Weatherford International PL | 0.54% | 76,653 | $5.5M | Reduce -25.8% |
| PRCT Procept Biorobotics Corp. | 0.54% | 68,137 | $5.5M | Add +4.3% |
| AAPL Apple Inc. | 0.51% | 20,843 | $5.2M | Add +6.8% |
| SG Sweetgreen Inc. Class A | 0.51% | 162,019 | $5.2M | Add +26.1% |
| GATX Gatx Corp. | 0.50% | 33,136 | $5.1M | New |
| ARGX Argenx SE - ADR | 0.50% | 8,251 | $5.1M | No change |
| ESTC Elastic NV | 0.49% | 50,946 | $5.0M | New |
| PLMR Palomar Holdings Inc. | 0.49% | 47,310 | $5.0M | Add +4.1% |
| AXGN Axogen Inc. | 0.48% | 295,554 | $4.9M | Add +49.9% |
| GKOS Glaukos Corp. | 0.47% | 31,961 | $4.8M | Add +54.2% |
| JPM JPMorgan Chase & Co. | 0.47% | 19,967 | $4.8M | No change |
| LMAT Lemaitre Vascular Inc. | 0.46% | 51,597 | $4.8M | Add +4.3% |
| MCW Mister Car Wash Inc. | 0.46% | 647,270 | $4.7M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.46% | 38,947 | $4.7M | No change |
| SPG Simon Property Group Inc. | 0.46% | 27,148 | $4.7M | No change |
| VFC VF Corp. | 0.45% | 214,340 | $4.6M | New |
| FSS Federal Signal Corp. | 0.45% | 49,645 | $4.6M | Add +4.8% |
| VERA Vera Therapeutics Inc. | 0.44% | 106,805 | $4.5M | Add +49.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.44% | 22,644 | $4.5M | Add +3.3% |
| CYBR Cyberark Software Ltd./Israel | 0.43% | 13,329 | $4.4M | New |
| LVS Las Vegas Sands Corp. | 0.43% | 86,127 | $4.4M | No change |
| CACI Caci International Inc. Class A | 0.42% | 10,638 | $4.3M | Reduce -42.7% |
| GOOG Alphabet Inc. Class C | 0.41% | 22,297 | $4.2M | Add +2.2% |
| TPG TPG Inc. | 0.41% | 66,689 | $4.2M | Add +2.6% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.41% | 76,057 | $4.2M | No change |
| VRT Vertiv Holdings Co. Class A | 0.40% | 36,259 | $4.1M | No change |
| LUV Southwest Airlines Co. | 0.39% | 120,089 | $4.0M | No change |
| CRDO Credo Technology Group Holdi | 0.39% | 59,788 | $4.0M | New |
| SPOT Spotify Technology SA | 0.38% | 8,699 | $3.9M | Add +703.2% |
| NOG Northern Oil and Gas Inc. | 0.37% | 101,581 | $3.8M | Reduce -8.3% |
| RVMD Revolution Medicines Inc. | 0.36% | 84,729 | $3.7M | Add +36.0% |
| ACLX Arcellx Inc. | 0.36% | 48,086 | $3.7M | Add +31.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.36% | 7,123 | $3.6M | No change |
| ELVN Enliven Therapeutics Inc. | 0.35% | 157,635 | $3.5M | Reduce -9.3% |
| LSCC Lattice Semiconductor Corp. | 0.34% | 61,710 | $3.5M | Reduce -14.3% |
| MGY Magnolia Oil & Gas Corp. Class A | 0.32% | 140,833 | $3.3M | Add +61.4% |
| IBIT iShares Bitcoin Trust ETF | 0.31% | 59,621 | $3.2M | New |
| ADMA Adma Biologics Inc. | 0.30% | 177,382 | $3.0M | Reduce -37.5% |
| WAY Waystar Holding Corp. | 0.30% | 82,854 | $3.0M | New |
| LOAR Loar Holdings Inc. | 0.30% | 40,920 | $3.0M | New |
| DX Dynex Capital Inc. | 0.29% | 237,476 | $3.0M | Reduce -40.1% |
| NOW ServiceNow Inc. | 0.29% | 2,805 | $3.0M | Add +223.5% |
| ODFL Old Dominion Freight Line | 0.28% | 16,356 | $2.9M | Reduce -17.7% |
| C Citigroup Inc. | 0.27% | 40,000 | $2.8M | No change |
| BAH Booz Allen Hamilton Holdings | 0.27% | 21,595 | $2.8M | Reduce -10.4% |
| JANX Janux Therapeutics Inc. | 0.27% | 50,958 | $2.7M | New |
| KLAC KLA Corp. | 0.26% | 4,283 | $2.7M | Reduce -50.5% |
| NVMI Nova Ltd. | 0.25% | 13,211 | $2.6M | Add +5.5% |
| NLY Annaly Capital Management Inc. | 0.25% | 140,135 | $2.6M | Reduce -56.4% |
| TGTX TG Therapeutics Inc. | 0.25% | 84,147 | $2.5M | Reduce -23.3% |
| WMB Williams Cos Inc. | 0.24% | 46,000 | $2.5M | No change |
| ELF Elf Beauty Inc. | 0.23% | 19,059 | $2.4M | No change |
| S Sentinelone Inc. Class A | 0.23% | 107,138 | $2.4M | Add +2.7% |
| CRM Salesforce Inc. | 0.23% | 7,031 | $2.4M | Add +846.3% |
| GM General Motors Co. | 0.22% | 42,010 | $2.2M | No change |
| DDOG Datadog Inc. Class A | 0.22% | 15,528 | $2.2M | Add +291.9% |
| CW Curtiss-Wright Corp. | 0.21% | 6,178 | $2.2M | No change |
| ZS Zscaler Inc. | 0.20% | 11,412 | $2.1M | New |
| MTN Vail Resorts Inc. | 0.20% | 10,911 | $2.0M | New |
| AXON Axon Enterprise Inc. | 0.20% | 3,430 | $2.0M | No change |
| RNAM Avidity Biosciences Inc. | 0.20% | 69,570 | $2.0M | New |
| COP Conocophillips | 0.19% | 20,000 | $2.0M | No change |
| MDB Mongodb Inc. | 0.19% | 8,373 | $1.9M | New |
| WK Workiva Inc. | 0.19% | 17,478 | $1.9M | New |
| INTU Intuit Inc. | 0.18% | 2,953 | $1.9M | Reduce -27.3% |
| SPRY Ars Pharmaceuticals Inc. | 0.18% | 172,018 | $1.8M | Reduce -14.8% |
| XYZ Block Inc. | 0.17% | 20,208 | $1.7M | New |
| BBIO Bridgebio Pharma Inc. | 0.16% | 59,892 | $1.6M | Add +68.0% |
| PANW Palo Alto Networks Inc. | 0.15% | 8,440 | $1.5M | No change |
| ASML ASML Holding NV-NY Reg SHS | 0.15% | 2,187 | $1.5M | Reduce -61.5% |
| TSLA Tesla Inc. | 0.15% | 3,752 | $1.5M | Add +11.2% |
| NTRA Natera Inc. | 0.15% | 9,468 | $1.5M | Add +46.4% |
| BXSL Blackstone Secured Lending F | 0.14% | 43,118 | $1.4M | Reduce -34.4% |
| FCNCA First Citizens Bcshs Class A | 0.12% | 566 | $1.2M | No change |
| NET Cloudflare Inc. Class A | 0.11% | 10,590 | $1.1M | Add +108.7% |
| HUBS HubSpot Inc. | 0.11% | 1,635 | $1.1M | Add +108.5% |
| TEAM Atlassian Corp. Class A | 0.11% | 4,678 | $1.1M | New |
| RL Ralph Lauren Corp. | 0.11% | 4,710 | $1.1M | No change |
| ROST Ross Stores Inc. | 0.10% | 6,988 | $1.1M | No change |
| SHOP Shopify Inc. Class A | 0.10% | 9,569 | $1.0M | No change |
| BIRK Birkenstock Holding PLC | 0.09% | 16,449 | $932K | Add +105.4% |
| CVCO Cavco Industries Inc. | 0.09% | 2,059 | $919K | Reduce -90.8% |
| CAVA Cava Group Inc. | 0.08% | 7,670 | $865K | No change |
| AXSM Axsome Therapeutics Inc. | 0.08% | 10,135 | $858K | No change |
| ANET Arista Networks Inc. | 0.08% | 7,710 | $852K | New |
| ORCL Oracle Corp. | 0.08% | 5,100 | $850K | No change |
| WTW Willis Towers Watson PLC | 0.08% | 2,700 | $846K | No change |
| DKNG Draftkings Inc. Class A | 0.08% | 21,710 | $808K | Reduce -10.3% |
| RGEN Repligen Corp. | 0.08% | 5,587 | $804K | Reduce -87.2% |
| HROW Harrow Inc. | 0.08% | 23,822 | $799K | Reduce -65.7% |
| KRYS Krystal Biotech Inc. | 0.08% | 5,086 | $797K | Reduce -73.0% |
| IHI iShares U.S. Medical Devices | 0.08% | 13,629 | $795K | New |
| LRCX Lam Research Corp. | 0.08% | 10,783 | $779K | New |
| CRMD Cormedix Inc. | 0.07% | 94,132 | $762K | New |
| BHVN Biohaven Ltd. | 0.07% | 18,673 | $697K | Reduce -26.6% |
| PRAX Praxis Precision Medicines I | 0.06% | 8,481 | $653K | New |
| FLS Flowserve Corp. | 0.06% | 10,833 | $623K | No change |
| XENE Xenon Pharmaceuticals Inc. | 0.06% | 14,658 | $575K | No change |
| HALO Halozyme Therapeutics Inc. | 0.05% | 11,395 | $545K | Reduce -94.6% |
| MRVL Marvell Technology Inc. | 0.05% | 4,906 | $542K | New |
| MELI MercadoLibre Inc. | 0.05% | 308 | $524K | No change |
| CYTK Cytokinetics Inc. | 0.05% | 11,049 | $520K | No change |
| DPZ Domino's Pizza Inc. | 0.05% | 1,209 | $507K | Add +42.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.05% | 1,218 | $490K | Reduce -2.8% |
| FOUR SHIFT4 Payments Inc. Class A | 0.05% | 4,513 | $468K | No change |
| PODD Insulet Corp. | 0.04% | 1,755 | $458K | No change |
| TOL Toll Brothers Inc. | 0.04% | 3,608 | $454K | Reduce -2.8% |
| CMG Chipotle Mexican Grill Inc. | 0.04% | 6,810 | $411K | No change |
| TXRH Texas Roadhouse Inc. | 0.04% | 2,173 | $392K | No change |
| ATSG Air Transport Services Group | 0.04% | 16,834 | $370K | Reduce -78.8% |
| SMCI Super Micro Computer Inc. | 0.03% | 11,019 | $336K | New |
| MA Mastercard Inc. Class A | 0.03% | 605 | $319K | New |
| V Visa Inc. Class A | 0.03% | 842 | $266K | New |
Other holdings (37): bonds, preferreds, convertibles and warrants · $102.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 5,690,000 | $6.9M | No change |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 3,750,000 | $5.8M | No change |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 3,925,000 | $5.0M | No change |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 3,980,000 | $4.8M | No change |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | 4,800,000 | $4.7M | Add +26.3% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 4,285,000 | $4.7M | No change |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 4,250,000 | $4.6M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 4,225,000 | $4.0M | New |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 4,000,000 | $4.0M | No change |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 3,000,000 | $3.6M | No change |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 2,000,000 | $3.5M | No change |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 2,250,000 | $3.4M | No change |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 2,250,000 | $3.4M | No change |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 3,160,000 | $3.3M | Reduce -40.7% |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | 1,500,000 | $3.3M | No change |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 3,500,000 | $3.2M | No change |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 3,100,000 | $3.2M | No change |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 3,015,000 | $3.1M | Reduce -28.2% |
| HCI GROUP INC (HCI 4.75 06/01/42) | NOTE 4.750% 6/0 · principal | 2,000,000 | $3.1M | No change |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 2,470,000 | $3.1M | No change |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 2,500,000 | $2.5M | No change |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,775,000 | $2.4M | New |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 1,750,000 | $2.3M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 2,250,000 | $2.1M | New |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 1,880,000 | $2.1M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 1,500,000 | $1.5M | New |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 1,250,000 | $1.3M | New |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | 550,000 | $1.1M | Reduce -47.6% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 1,000,000 | $1.1M | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 1,000,000 | $1.1M | Reduce -63.0% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 1,000,000 | $1.0M | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 1,000,000 | $1.0M | New |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 1,000,000 | $1.0M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 565,000 | $661K | No change |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 250,000 | $300K | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | 98,440 | $61K | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV · principal | 73,455 | $46K | Add +101.1% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q3 2024 → Q4 2024
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −1.40 |
| HALO Halozyme Therapeutics Inc. | Reduce -94.6% | 0.05% | −1.17 |
| MTG Mgic Investment Corp. | Reduce -41.7% | 1.05% | −0.99 |
| MPWR Monolithic Power Systems Inc. | Reduce -27.5% | 0.72% | −0.90 |
| CVCO Cavco Industries Inc. | Reduce -90.8% | 0.09% | −0.89 |
| RRR Red Rock Resorts Inc. Class A | Sold out | 0.00% | −0.69 |
| SHOO Steven Madden Ltd. | Sold out | 0.00% | −0.61 |
| RGEN Repligen Corp. | Reduce -87.2% | 0.08% | −0.59 |
| YOU Clear Secure Inc. Class A | Sold out | 0.00% | −0.58 |
| KEX Kirby Corp. | Sold out | 0.00% | −0.54 |
| CACI Caci International Inc. Class A | Reduce -42.7% | 0.42% | −0.54 |
| BLBD Blue Bird Corp. | Sold out | 0.00% | −0.53 |
| CDNA Caredx Inc. | Sold out | 0.00% | −0.53 |
| ONTO Onto Innovation Inc. | Reduce -26.9% | 0.67% | −0.52 |
| MRUS Merus NV | Sold out | 0.00% | −0.49 |
| NUVL Nuvalent Inc. Class A | Reduce -23.6% | 0.58% | −0.46 |
| PSN Parsons Corp. | Sold out | 0.00% | −0.43 |
| KLAC KLA Corp. | Reduce -50.5% | 0.26% | −0.42 |
| NLY Annaly Capital Management Inc. | Reduce -56.4% | 0.25% | −0.41 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.39 |
| IBB iShares Biotechnology ETF | Sold out | 0.00% | −0.39 |
| RXST Rxsight Inc. | Sold out | 0.00% | −0.38 |
| DKS Dick's Sporting Goods Inc. | Sold out | 0.00% | −0.37 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.36 |
| WFRD Weatherford International PL | Reduce -25.8% | 0.54% | −0.36 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -61.5% | 0.15% | −0.34 |
| BCAX Bicara Therapeutics Inc. | Sold out | 0.00% | −0.31 |
| ASTH Astrana Health Inc. | Sold out | 0.00% | −0.28 |
| ADMA Adma Biologics Inc. | Reduce -37.5% | 0.30% | −0.28 |
| RLAY Relay Therapeutics Inc. | Sold out | 0.00% | −0.27 |
| KRYS Krystal Biotech Inc. | Reduce -73.0% | 0.08% | −0.27 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.27 |
| ARCB Arcbest Corp. | Sold out | 0.00% | −0.27 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.26 |
| HROW Harrow Inc. | Reduce -65.7% | 0.08% | −0.24 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.24 |
| CR Crane Co. | Reduce -21.7% | 0.59% | −0.23 |
| GERN Geron Corp. | Sold out | 0.00% | −0.23 |
| DX Dynex Capital Inc. | Reduce -40.1% | 0.29% | −0.22 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −0.21 |
| TDG Transdigm Group Inc. | Reduce -3.9% | 0.86% | −0.19 |
| VCEL Vericel Corp. | Sold out | 0.00% | −0.17 |
| APPF Appfolio Inc. Class A | Reduce -13.2% | 1.07% | −0.16 |
| ASND Ascendis Pharma A/S | Sold out | 0.00% | −0.13 |
| BAH Booz Allen Hamilton Holdings | Reduce -10.4% | 0.27% | −0.13 |
| SPRY Ars Pharmaceuticals Inc. | Reduce -14.8% | 0.18% | −0.12 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.12 |
| ODFL Old Dominion Freight Line | Reduce -17.7% | 0.28% | −0.12 |
| ARHS Arhaus Inc. | Sold out | 0.00% | −0.11 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −0.11 |
Portfolio Buys Q3 2024 → Q4 2024
| RSI Rush Street Interactive Inc. | New | 1.46% | +1.46 |
| ALAB Astera Labs Inc. | Add +55.2% | 1.93% | +1.42 |
| SHAK Shake Shack Inc. Class A | New | 0.97% | +0.97 |
| BILL Bill Holdings Inc. | New | 0.72% | +0.72 |
| VRNA Verona Pharma Ltd. | New | 0.70% | +0.70 |
| SFM Sprouts Farmers Market Inc. | New | 0.63% | +0.63 |
| CORZ Core Scientific Inc. | Add +68.2% | 1.30% | +0.62 |
| HQY Healthequity Inc. | New | 0.61% | +0.61 |
| IWM iShares Russell 2000 ETF | Add +156.6% | 1.02% | +0.60 |
| GATX Gatx Corp. | New | 0.50% | +0.50 |
| ESTC Elastic NV | New | 0.49% | +0.49 |
| INSM Insmed Inc. | Add +80.7% | 1.23% | +0.48 |
| MCW Mister Car Wash Inc. | New | 0.46% | +0.46 |
| KRNT Kornit Digital Ltd. | Add +43.1% | 1.16% | +0.45 |
| VFC VF Corp. | New | 0.45% | +0.45 |
| BOOT Boot Barn Holdings Inc. | Add +81.9% | 1.20% | +0.44 |
| CYBR Cyberark Software Ltd./Israel | New | 0.43% | +0.43 |
| WGS Genedx Holdings Corp. | Add +40.0% | 0.73% | +0.43 |
| CRDO Credo Technology Group Holdi | New | 0.39% | +0.39 |
| SPOT Spotify Technology SA | Add +703.2% | 0.38% | +0.34 |
| IBIT iShares Bitcoin Trust ETF | New | 0.31% | +0.31 |
| WAY Waystar Holding Corp. | New | 0.30% | +0.30 |
| LOAR Loar Holdings Inc. | New | 0.30% | +0.30 |
| ITCI Intra-Cellular Therapies Inc. | Add +14.3% | 1.44% | +0.29 |
| ALKT Alkami Technology Inc. | Add +46.8% | 0.72% | +0.28 |
| JANX Janux Therapeutics Inc. | New | 0.27% | +0.27 |
| KVYO Klaviyo Inc. Class A | Add +63.4% | 0.57% | +0.26 |
| WIX Wix.com Ltd. | Add +3.6% | 1.19% | +0.25 |
| EMBJ Embraer SA-Spon ADR | Add +11.0% | 2.32% | +0.21 |
| NOW ServiceNow Inc. | Add +223.5% | 0.29% | +0.21 |
| CRM Salesforce Inc. | Add +846.3% | 0.23% | +0.21 |
| PRIM Primoris Services Corp. | Add +3.7% | 0.89% | +0.21 |
| ARIS WATER SOLUTIONS INC-A | Add +6.2% | 0.68% | +0.21 |
| ZS Zscaler Inc. | New | 0.20% | +0.20 |
| MTN Vail Resorts Inc. | New | 0.20% | +0.20 |
| RNAM Avidity Biosciences Inc. | New | 0.20% | +0.20 |
| AXGN Axogen Inc. | Add +49.9% | 0.48% | +0.19 |
| GKOS Glaukos Corp. | Add +54.2% | 0.47% | +0.19 |
| MDB Mongodb Inc. | New | 0.19% | +0.19 |
| EVR Evercore Inc. Class A | Add +4.4% | 2.24% | +0.19 |
| WK Workiva Inc. | New | 0.19% | +0.19 |
| DDOG Datadog Inc. Class A | Add +291.9% | 0.22% | +0.17 |
| XYZ Block Inc. | New | 0.17% | +0.17 |
| CRNX Crinetics Pharmaceuticals Inc. | Add +35.6% | 0.64% | +0.15 |
| WTFC Wintrust Financial Corp. | Add +3.6% | 1.15% | +0.14 |
| VERA Vera Therapeutics Inc. | Add +49.3% | 0.44% | +0.12 |
| TEAM Atlassian Corp. Class A | New | 0.11% | +0.11 |
| MGY Magnolia Oil & Gas Corp. Class A | Add +61.4% | 0.32% | +0.10 |
| DSGX The Descartes Systems Grp | Add +3.3% | 1.10% | +0.09 |
| ANET Arista Networks Inc. | New | 0.08% | +0.08 |
Notes & Other Activity Q3 2024 → Q4 2024
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | Add +26.3% | 4,800,000 | $4.7M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.125 11/15/24) | NOTE 0.125%11/1 · principal | Sold out | 4,650,000 | $4.6Mbefore exit |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 4,225,000 | $4.0M |
| CYBERARK SOFTWARE LTD (CYBR 0 11/15/24) | NOTE 11/1 · principal | Sold out | 2,100,000 | $3.9Mbefore exit |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Reduce -40.7% | 3,160,000 | $3.3M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Reduce -28.2% | 3,015,000 | $3.1M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 1,775,000 | $2.4M |
| MONGODB INC (MDB 0.25 01/15/26) | NOTE 0.250% 1/1 · principal | Sold out | 1,700,000 | $2.3Mbefore exit |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 2,250,000 | $2.1M |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | Sold out | 1,800,000 | $1.7Mbefore exit |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | Sold out | 1,925,000 | $1.7Mbefore exit |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | Sold out | 1,800,000 | $1.7Mbefore exit |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | New | 1,500,000 | $1.5M |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | New | 1,250,000 | $1.3M |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | Reduce -47.6% | 550,000 | $1.1M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 1,000,000 | $1.1M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -63.0% | 1,000,000 | $1.1M |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | New | 1,000,000 | $1.0M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | New | 1,000,000 | $1.0M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | New | 1,000,000 | $1.0M |
| NATERA INC (NTRA 2.25 05/01/27) | NOTE 2.250% 5/0 · principal | Sold out | 250,000 | $827Kbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | New | 98,440 | $61K |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV · principal | Add +101.1% | 73,455 | $46K |
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 | 175 | $1.6B | BWXT, RVMD, CALY, MOD, CRS |
| Q1 2026 | 178 | $1.2B | BWXT, INSM, KTOS, GEV, RVMD |
| Q4 2025 | 177 | $1.2B | BWXT, INSM, KTOS, EMBJ, RVMD |
| Q3 2025 | 181 | $1.1B | BWXT, KTOS, RSI, INSM, EMBJ |
| Q2 2025 | 183 | $999.7M | BWXT, EMBJ, RSI, REVG, INSM |
| Q1 2025 | 166 | $863.4M | EMBJ, BWXT, REVG, RSI, INSM |
| Q4 2024 | 183 | $1.0B | BWXT, EMBJ, EVR, FTAI, ALAB |
| Q3 2024 | 184 | $978.9M | BWXT, FTAI, EMBJ, EVR, MTG |
| Q2 2024 | 157 | $859.9M | MPWR, BWXT, WFRD, NVDA, REVG |
| Q1 2024 | 168 | $886.1M | BWXT, MPWR, XOM, EVR, LSCC |