Nomura Holdings Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Nomura Holdings Inc. reported 1,100 stock positions worth $35.0 billion. Its top holding was Echostar Corp. (echo 3.875 11/30/30) at 55.0% of the portfolio, followed by Alibaba Group Holding (baba 0.5 06/01/31) (5.6%) and Nvidia (NVDA, 3.3%). Compared with Q3 2025, it opened 247 new positions, sold out of 243, added to 349 and reduced 472. The biggest buy was a new position in Echostar Corp. (echo 3.875 11/30/30) and the biggest sale Tesla (TSLA, shares −80%).
- Most Recent 13F
- Q2 2026
- Location
- TOKYO, M0
- CIK
- 0001163653
- Portfolio Value
- $35.0B (Q4 2025)
- SEC Filing
- 0000905148-26-000819 ↗ filed Feb 17, 2026
Holdings Value
Holdings 1,100 stocks · $35.0B
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | 54.98% | 176,923,845 | $19.2B | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | 5.56% | 13,277,163 | $1.9B | Reduce -4.3% |
| NVDA Nvidia Corp. | 3.28% | 6,147,704 | $1.1B | Reduce -8.3% |
| TSLA Tesla Inc. | 1.56% | 1,211,801 | $545.0M | Reduce -80.3% |
| DLTR Dollar Tree Inc. | 1.34% | 3,813,005 | $469.0M | Add +0.1% |
| META Meta Platforms Inc. Class A | 0.95% | 503,041 | $332.1M | Reduce -28.7% |
| GOOGL Alphabet Inc. Class A | 0.92% | 1,032,112 | $323.1M | Reduce -35.6% |
| PEP Pepsico Inc. | 0.71% | 1,742,167 | $250.0M | Add +54.6% |
| AMZN Amazon.com Inc. | 0.63% | 960,925 | $221.8M | Add +44.8% |
| MU Micron Technology Inc. | 0.62% | 765,363 | $218.4M | Add +30.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.53% | 615,151 | $186.9M | Reduce -69.0% |
| ORCL Oracle Corp. | 0.51% | 907,646 | $176.9M | Add +182.1% |
| MSFT Microsoft Corp. | 0.50% | 360,019 | $174.1M | Reduce -52.8% |
| AMD Advanced Micro Devices | 0.49% | 805,826 | $172.6M | Reduce -16.6% |
| PRKS United Parks & Resorts Inc. | 0.46% | 4,476,357 | $162.5M | No change |
| LUV Southwest Airlines Co. | 0.46% | 3,930,511 | $162.4M | Add +1.8% |
| MA Mastercard Inc. Class A | 0.45% | 274,571 | $156.7M | Add +86.6% |
| HON Honeywell International Inc. | 0.44% | 783,804 | $152.9M | Reduce -80.0% |
| PLTR Palantir Technologies Inc. Class A | 0.42% | 834,355 | $148.3M | Reduce -23.3% |
| SNPS Synopsys Inc. | 0.40% | 301,332 | $141.5M | Add +1152.4% |
| HOOD Robinhood Markets Inc. Class A | 0.38% | 1,169,759 | $132.3M | Add +18.6% |
| DASH DoorDash Inc. Class A | 0.37% | 574,772 | $130.2M | Reduce -30.5% |
| FFIV F5 Inc. | 0.36% | 497,543 | $127.0M | Add +10456.8% |
| AXP American Express Co. | 0.33% | 312,598 | $115.6M | Add +776.3% |
| CTSH Cognizant Tech Solutions-A | 0.32% | 1,353,049 | $112.3M | Add +164.1% |
| COST Costco Wholesale Corp. | 0.31% | 127,005 | $109.5M | Add +50.7% |
| SLVM Sylvamo Corp. | 0.30% | 2,150,000 | $103.5M | No change |
| UNH Unitedhealth Group Inc. | 0.29% | 308,089 | $101.7M | Reduce -42.7% |
| LULU Lululemon Athletica Inc. | 0.27% | 455,785 | $94.7M | Add +540.7% |
| GOOG Alphabet Inc. Class C | 0.25% | 282,114 | $88.5M | Reduce -12.5% |
| INTC Intel Corp. | 0.24% | 2,290,056 | $84.5M | Add +22.5% |
| CSGP Costar Group Inc. | 0.24% | 1,234,117 | $83.0M | Add +10869.9% |
| HOUS Anywhere Real Estate Inc. | 0.23% | 5,738,624 | $81.3M | Add +2.7% |
| AVGO Broadcom Inc. | 0.23% | 230,733 | $79.9M | Reduce -58.0% |
| WBD Warner Bros Discovery Inc. | 0.23% | 2,764,502 | $79.7M | Add +1013.4% |
| BP BP PLC-Spons ADR | 0.20% | 2,060,574 | $71.6M | Add +35.3% |
| ASTS Ast Spacemobile Inc. | 0.20% | 963,847 | $70.0M | Add +5.7% |
| COHR Coherent Corp. | 0.20% | 376,758 | $69.5M | Add +976.5% |
| IONS Ionis Pharmaceuticals Inc. | 0.19% | 848,815 | $67.1M | Add +15.7% |
| HSIC Henry Schein Inc. | 0.19% | 880,374 | $66.5M | Add +34.7% |
| CAR Avis Budget Group Inc. | 0.19% | 507,261 | $65.1M | Reduce -66.0% |
| RIOT Riot Platforms Inc. | 0.18% | 5,097,390 | $64.6M | Add +34529.0% |
| CSCO Cisco Systems Inc. | 0.18% | 823,138 | $63.4M | Reduce -10.8% |
| VERX Vertex Inc. Class A | 0.18% | 3,173,345 | $63.4M | Add +31728.9% |
| COIN Coinbase Global Inc. Class A | 0.18% | 274,101 | $62.0M | Reduce -49.3% |
| BHC Bausch Health Cos Inc. | 0.17% | 8,699,533 | $60.5M | Reduce -44.6% |
| V Visa Inc. Class A | 0.17% | 166,812 | $58.5M | Add +113.6% |
| MKSI MKS Inc. | 0.17% | 364,033 | $58.2M | Reduce -14.7% |
| PG&E CORP (PCG 4.25 12/01/27) | 0.16% | 3,500,926 | $56.3M | Reduce -12.1% |
| WDAY Workday Inc. Class A | 0.16% | 252,905 | $54.3M | Add +14.3% |
| WDC Western Digital Corp. | 0.15% | 313,990 | $54.1M | Reduce -10.1% |
| LRCX Lam Research Corp. | 0.15% | 307,822 | $52.7M | Add +20.9% |
| CRCL Circle Internet Group Inc. | 0.15% | 642,206 | $50.9M | Add +43.6% |
| CORZ Core Scientific Inc. | 0.15% | 3,495,767 | $50.9M | Add +333.7% |
| DAR Darling Ingredients Inc. | 0.14% | 1,403,450 | $50.5M | New |
| CRWD CrowdStrike Holdings Inc. Class A | 0.14% | 107,234 | $50.3M | Reduce -36.8% |
| DHC Diversified Healthcare Trust | 0.14% | 10,316,466 | $50.0M | Reduce -10.7% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | 0.14% | 153,354 | $48.8M | No change |
| B Barrick Mining Corp. | 0.13% | 1,074,481 | $46.8M | New |
| TMUS T-Mobile US Inc. | 0.13% | 228,433 | $46.4M | Add +7.6% |
| AMAT Applied Materials Inc. | 0.13% | 176,247 | $45.3M | Add +35.0% |
| ISRG Intuitive Surgical Inc. | 0.13% | 79,828 | $45.2M | Add +85.2% |
| PDD PDD Holdings Inc. | 0.12% | 384,271 | $43.6M | Add +276.8% |
| ADI Analog Devices Inc. | 0.12% | 156,289 | $42.4M | Add +71.7% |
| CZR Caesars Entertainment Inc. | 0.12% | 1,793,312 | $41.9M | Reduce -25.0% |
| HD Home Depot Inc. | 0.12% | 117,436 | $40.4M | Add +243.0% |
| JMIA Jumia Technologies AG-ADR | 0.11% | 3,213,173 | $40.1M | Add +596.0% |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | 0.11% | 341,906 | $39.4M | Add +25.4% |
| MAKEMYTRIP LIMITED (MMYT 0 02/15/28) | 0.11% | 477,972 | $39.3M | No change |
| NFLX Netflix Inc. | 0.11% | 417,285 | $39.1M | Reduce -53.0% |
| PLAY Dave & Buster's Entertainmen | 0.11% | 2,411,191 | $39.1M | No change |
| LIN Linde PLC | 0.11% | 91,413 | $39.0M | Add +1.8% |
| KLAC KLA Corp. | 0.11% | 32,012 | $38.9M | Add +20.1% |
| INTU Intuit Inc. | 0.11% | 57,638 | $38.2M | Add +14.1% |
| UBER Uber Technologies Inc. | 0.11% | 459,737 | $37.6M | Add +55.2% |
| DDOG Datadog Inc. Class A | 0.11% | 275,041 | $37.4M | Add +30.6% |
| MRVL Marvell Technology Inc. | 0.11% | 439,413 | $37.3M | Add +35.8% |
| VRNS Varonis Systems Inc. | 0.11% | 1,122,872 | $36.8M | New |
| MMSI Merit Medical Systems Inc. | 0.10% | 414,928 | $36.6M | Add +1.7% |
| DAL Delta Air Lines Inc. | 0.10% | 524,223 | $36.4M | Add +81.6% |
| ADBE Adobe Inc. | 0.10% | 103,828 | $36.3M | Add +6.0% |
| QCOM Qualcomm Inc. | 0.10% | 207,597 | $35.5M | Add +10.1% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | 0.10% | 156,460 | $35.4M | Reduce -18.4% |
| FIS Fidelity National Info Serv | 0.10% | 531,923 | $35.4M | Reduce -36.9% |
| MDT Medtronic PLC | 0.10% | 366,941 | $35.2M | Reduce -18.7% |
| LI AUTO INC (LI 0.25 05/01/28) | 0.10% | 2,052,128 | $34.7M | Reduce -0.1% |
| POST HOLDINGS INC (POST 2.5 08/15/27) filed as POST HLDGS INC | 0.10% | 348,341 | $34.5M | Add +1.8% |
| WULF Terawulf Inc. | 0.10% | 2,998,941 | $34.5M | Add +21.6% |
| REXR Rexford Industrial Realty Inc. | 0.10% | 865,145 | $33.5M | Add +58.0% |
| GE General Electric filed as GE AEROSPACE | 0.10% | 108,603 | $33.5M | Add +5.7% |
| SHOP Shopify Inc. Class A | 0.09% | 205,704 | $33.1M | Add +48.8% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | 0.09% | 861,963 | $33.0M | Add +19.3% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | 0.09% | 601,704 | $32.6M | Reduce -3.3% |
| HTZ Hertz Global Hldgs Inc. | 0.09% | 6,335,021 | $32.6M | Add +71.1% |
| CVS CVS Health Corp. | 0.09% | 406,030 | $32.2M | Reduce -56.1% |
| RITM Rithm Capital Corp. | 0.09% | 2,887,674 | $31.5M | Add +58.3% |
| GILD Gilead Sciences Inc. | 0.09% | 256,086 | $31.4M | Reduce -18.0% |
| TXN Texas Instruments Inc. | 0.09% | 180,508 | $31.3M | Add +2.5% |
| REGN Regeneron Pharmaceuticals | 0.09% | 40,395 | $31.2M | Add +63.3% |
| ORLY O'reilly Automotive Inc. | 0.09% | 340,609 | $31.1M | Add +656.5% |
Options reported separately and not counted above: META calls ($3.4B), SPY puts ($2.6B), NVDA calls ($2.6B), TSLA puts ($2.2B), QQQ puts ($2.0B), GOOGL calls ($1.3B), QQQ calls ($1.2B), MSFT calls ($1.1B), GOOGL puts ($1.1B), IWM puts ($980.0M), TSM puts ($973.5M), META puts ($811.5M), and 747 more.
Other holdings (7): bonds, preferreds, convertibles and warrants · $880K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DFDVW Defi Development Corp. | *W EXP 01/21/202 | 430,530 | $654K | New |
| ABVWF Above Food Ingredients- 29 | *W EXP 06/28/202 | 481,988 | $169K | No change |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 17,905 | $54K | Add +0.5% |
| ECXWW Ecarx Holdings Inc. Class A-27 | *W EXP 99/99/999 | 21,687 | $1K | No change |
| CRPWF Carbon Revolution PLC | *W EXP 99/99/999 | 116,666 | $817 | No change |
| NAMMW Namib Minerals | *W EXP 06/05/203 | 10,000 | $720 | No change |
| BZFDW Buzzfeed Inc. -CW27 | *W EXP 12/03/202 | 16,667 | $317 | No change |
Total filed on the 13F, all lines: $35.0B.
Portfolio Sells Q3 2025 → Q4 2025
| TSLA Tesla Inc. | Reduce -80.3% | 1.56% | −12.43 |
| HON Honeywell International Inc. | Reduce -80.0% | 0.44% | −3.79 |
| NVDA Nvidia Corp. | Reduce -8.3% | 3.28% | −3.13 |
| NKE Nike Inc. Class B | Reduce -95.5% | 0.06% | −2.65 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -69.0% | 0.53% | −2.30 |
| AAPL Apple Inc. | Reduce -92.7% | 0.08% | −1.82 |
| META Meta Platforms Inc. Class A | Reduce -28.7% | 0.95% | −1.71 |
| MSFT Microsoft Corp. | Reduce -52.8% | 0.50% | −1.53 |
| PM Philip Morris International | Reduce -98.2% | 0.01% | −1.23 |
| GOOGL Alphabet Inc. Class A | Reduce -35.6% | 0.92% | −1.07 |
| CAR Avis Budget Group Inc. | Reduce -66.0% | 0.19% | −1.04 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −0.97 |
| PNFP Pinnacle Financial Partners | Reduce -97.7% | 0.01% | −0.95 |
| EQIX Equinix Inc. | Reduce -85.2% | 0.08% | −0.94 |
| DASH DoorDash Inc. Class A | Reduce -30.5% | 0.37% | −0.78 |
| COIN Coinbase Global Inc. Class A | Reduce -49.3% | 0.18% | −0.76 |
| SNV Synovus Financial Corp. | Reduce -96.3% | 0.02% | −0.74 |
| AVGO Broadcom Inc. | Reduce -58.0% | 0.23% | −0.70 |
| UNH Unitedhealth Group Inc. | Reduce -42.7% | 0.29% | −0.66 |
| CRL Charles River Laboratories | Reduce -99.7% | 0.00% | −0.64 |
| PLTR Palantir Technologies Inc. Class A | Reduce -23.3% | 0.42% | −0.59 |
| NFLX Netflix Inc. | Reduce -53.0% | 0.11% | −0.43 |
| LLY Eli Lilly & Co. | Reduce -94.2% | 0.02% | −0.42 |
| COO The Cooper Cos Inc. | Reduce -99.8% | 0.00% | −0.39 |
| BHC Bausch Health Cos Inc. | Reduce -44.6% | 0.17% | −0.35 |
| SMCI Super Micro Computer Inc. | Reduce -91.7% | 0.01% | −0.34 |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | Sold out | 0.00% | −0.31 |
| AMD Advanced Micro Devices | Reduce -16.6% | 0.49% | −0.31 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -36.8% | 0.14% | −0.28 |
| CVS CVS Health Corp. | Reduce -56.1% | 0.09% | −0.26 |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | Reduce -18.4% | 0.10% | −0.23 |
| CCL Carnival Corp. | Reduce -73.6% | 0.04% | −0.23 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -63.4% | 0.05% | −0.23 |
| SOLS Solstice Adv Materials Inc. | Reduce -80.6% | 0.03% | −0.22 |
| CZR Caesars Entertainment Inc. | Reduce -25.0% | 0.12% | −0.21 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −0.20 |
| CIEN Ciena Corp. | Sold out | 0.00% | −0.19 |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | Sold out | 0.00% | −0.19 |
| PRO Pros Holdings Inc. | Sold out | 0.00% | −0.19 |
| FIS Fidelity National Info Serv | Reduce -36.9% | 0.10% | −0.18 |
| PCG P G & E Corp. | Sold out | 0.00% | −0.18 |
| STRIDE INC (LRN 1.125 09/01/27) | Sold out | 0.00% | −0.18 |
| BJRI Bj's Restaurants Inc. | Reduce -59.0% | 0.07% | −0.17 |
| APP AppLovin Corp. Class A | Reduce -59.6% | 0.05% | −0.17 |
| LI AUTO INC (LI 0.25 05/01/28) | Reduce -0.1% | 0.10% | −0.17 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -39.4% | 0.08% | −0.16 |
| KDP Keurig Dr Pepper Inc. | Reduce -65.9% | 0.04% | −0.16 |
| GOOG Alphabet Inc. Class C | Reduce -12.5% | 0.25% | −0.15 |
| KBR KBR Inc. | Sold out | 0.00% | −0.15 |
| PG&E CORP (PCG 4.25 12/01/27) | Reduce -12.1% | 0.16% | −0.15 |
Portfolio Buys Q3 2025 → Q4 2025
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | New | 54.98% | +54.98 |
| FFIV F5 Inc. | Add +10456.8% | 0.36% | +0.36 |
| SNPS Synopsys Inc. | Add +1152.4% | 0.40% | +0.34 |
| AXP American Express Co. | Add +776.3% | 0.33% | +0.27 |
| CSGP Costar Group Inc. | Add +10869.9% | 0.24% | +0.23 |
| LULU Lululemon Athletica Inc. | Add +540.7% | 0.27% | +0.21 |
| WBD Warner Bros Discovery Inc. | Add +1013.4% | 0.23% | +0.20 |
| RIOT Riot Platforms Inc. | Add +34529.0% | 0.18% | +0.18 |
| VERX Vertex Inc. Class A | Add +31728.9% | 0.18% | +0.18 |
| COHR Coherent Corp. | Add +976.5% | 0.20% | +0.18 |
| CTSH Cognizant Tech Solutions-A | Add +164.1% | 0.32% | +0.15 |
| DAR Darling Ingredients Inc. | New | 0.14% | +0.14 |
| B Barrick Mining Corp. | New | 0.13% | +0.13 |
| MU Micron Technology Inc. | Add +30.5% | 0.62% | +0.12 |
| VRNS Varonis Systems Inc. | New | 0.11% | +0.11 |
| POST HOLDINGS INC (POST 2.5 08/15/27) | Add +1.8% | 0.10% | +0.10 |
| JMIA Jumia Technologies AG-ADR | Add +596.0% | 0.11% | +0.09 |
| KMX Carmax Inc. | New | 0.09% | +0.09 |
| SPSC SPS Commerce Inc. | New | 0.08% | +0.08 |
| IREN LTD (IREN 3.25 06/15/30) | New | 0.07% | +0.07 |
| CORZ Core Scientific Inc. | Add +333.7% | 0.15% | +0.07 |
| WOLF Wolfspeed Inc. | New | 0.07% | +0.07 |
| POWI Power Integrations Inc. | New | 0.07% | +0.07 |
| ORLY O'reilly Automotive Inc. | Add +656.5% | 0.09% | +0.06 |
| UNIT Uniti Group Inc. | New | 0.06% | +0.06 |
| RXST Rxsight Inc. | New | 0.06% | +0.06 |
| PH Parker Hannifin Corp. | Add +758.3% | 0.07% | +0.06 |
| PDD PDD Holdings Inc. | Add +276.8% | 0.12% | +0.06 |
| CCC CCC Intelligent Solutions Ho | New | 0.05% | +0.05 |
| SGRY Surgery Partners Inc. | Add +665.9% | 0.08% | +0.05 |
| UTHR United Therapeutics Corp. | Add +952.0% | 0.06% | +0.05 |
| ECHO Echostar Corp. Class A | Add +6096.7% | 0.05% | +0.05 |
| FISV Fiserv Inc. | Add +656.4% | 0.08% | +0.04 |
| HD Home Depot Inc. | Add +243.0% | 0.12% | +0.04 |
| PINS Pinterest Inc. Class A | Add +1606.4% | 0.05% | +0.04 |
| ORCL Oracle Corp. | Add +182.1% | 0.51% | +0.04 |
| FDX FedEx Corp. | Add +1008.3% | 0.05% | +0.04 |
| BKNG Booking Holdings Inc. | Add +264.6% | 0.08% | +0.04 |
| KREF KKR Real Estate Finance Trus | Add +370.8% | 0.06% | +0.04 |
| NX Quanex Building Products | New | 0.04% | +0.04 |
| LITE Lumentum Holdings Inc. | Add +31.8% | 0.09% | +0.04 |
| AUPH Aurinia Pharmaceuticals Inc. | Add +265.6% | 0.05% | +0.03 |
| OMER Omeros Corp. | Add +1399.6% | 0.03% | +0.03 |
| V Visa Inc. Class A | Add +113.6% | 0.17% | +0.03 |
| ISRG Intuitive Surgical Inc. | Add +85.2% | 0.13% | +0.03 |
| WEX Wex Inc. | New | 0.03% | +0.03 |
| FSSL FS Specialty Lending Fund | New | 0.03% | +0.03 |
| ET Energy Transfer LP | New | 0.03% | +0.03 |
| URG Ur-Energy Inc. | New | 0.03% | +0.03 |
| WPC WP Carey Inc. | Add +3044.4% | 0.03% | +0.03 |
Options Activity Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | call | Reduce -27.1% | 5,098,900 | $3.4B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +1120.6% | 3,844,900 | $2.6B |
| NVDA Nvidia Corp. | call | Add +82.8% | 13,688,800 | $2.6B |
| TSLA Tesla Inc. | put | Reduce -39.2% | 4,967,600 | $2.2B |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -44.5% | 3,237,000 | $2.0B |
| GOOGL Alphabet Inc. Class A | call | Reduce -22.4% | 4,245,200 | $1.3B |
| QQQ Invesco QQQ Trust Series 1 | call | Add +33.0% | 1,916,500 | $1.2B |
| MSFT Microsoft Corp. | call | Reduce -5.0% | 2,345,100 | $1.1B |
| GOOGL Alphabet Inc. Class A | put | Add +99.6% | 3,391,700 | $1.1B |
| IWM iShares Russell 2000 ETF | put | Reduce -25.9% | 3,981,300 | $980.0M |
| TSM Taiwan Semiconductor-SP ADR | put | Add +14.6% | 3,203,400 | $973.5M |
| META Meta Platforms Inc. Class A | put | Reduce -9.8% | 1,229,400 | $811.5M |
| NVDA Nvidia Corp. | put | Add +13.3% | 4,013,900 | $748.6M |
| IWM iShares Russell 2000 ETF | call | Add +0.1% | 2,497,800 | $614.9M |
| GLD SPDR Gold Shares | call | Reduce -35.8% | 1,474,600 | $584.4M |
| PEP Pepsico Inc. | call | Add +296.7% | 4,038,000 | $579.5M |
| PLTR Palantir Technologies Inc. Class A | put | Add +91.7% | 2,903,100 | $516.0M |
| TSLA Tesla Inc. | call | Add +649.3% | 996,600 | $448.2M |
| AAPL Apple Inc. | call | Reduce -35.7% | 1,646,900 | $447.7M |
| MU Micron Technology Inc. | put | Add +1962.7% | 1,443,900 | $412.1M |
| AMZN Amazon.com Inc. | call | Reduce -7.8% | 1,691,700 | $390.5M |
| HON Honeywell International Inc. | call | Reduce -43.8% | 1,907,500 | $372.1M |
| AXP American Express Co. | call | Reduce -21.8% | 906,200 | $335.2M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +927.5% | 4,110,000 | $331.4M |
| CRWV Coreweave Inc. Class A | call | Add +91.1% | 4,263,300 | $305.3M |
| FXI iShares China Large-Cap ETF | call | Reduce -1.3% | 7,157,400 | $274.1M |
| EWZ iShares MSCI Brazil ETF | call | Add +24.4% | 8,368,300 | $265.9M |
| BABA Alibaba Group Holding-SP ADR | call | Add +476.8% | 1,783,500 | $261.4M |
| AMZN Amazon.com Inc. | put | Add +3.1% | 1,094,800 | $252.7M |
| CTSH Cognizant Tech Solutions-A | put | Add +84.7% | 3,035,000 | $251.9M |
| DLTR Dollar Tree Inc. | call | New | 2,000,000 | $246.0M |
| KWEB Kranesh Csi China Internet | put | Add +8.4% | 6,715,900 | $228.7M |
| XBI SS SPDR S&P Biotech ETF | call | Add +207.5% | 1,727,400 | $210.6M |
| XHB SS SPDR S&P Homebldrs ETF | call | Add +2757.1% | 2,000,000 | $205.9M |
| AMD Advanced Micro Devices | put | Add +50.5% | 946,800 | $202.8M |
| SLV iShares Silver Trust | call | Add +154.9% | 3,134,900 | $202.0M |
| EQIX Equinix Inc. | call | Sold out | 250,000 | $195.8Mbefore exit |
| EQIX Equinix Inc. | put | Sold out | 250,000 | $195.8Mbefore exit |
| COIN Coinbase Global Inc. Class A | call | Reduce -1.9% | 855,300 | $193.4M |
| AAPL Apple Inc. | put | Reduce -70.0% | 693,400 | $188.5M |
| EEM iShares MSCI Emerging Market | put | Reduce -36.2% | 3,439,300 | $188.2M |
| APLD Applied Digital Corp. | call | Add +50.0% | 7,500,000 | $183.9M |
| IMO Imperial Oil Ltd. | put | New | 2,000,000 | $172.6M |
| TSM Taiwan Semiconductor-SP ADR | call | Reduce -69.1% | 524,000 | $159.2M |
| DASH DoorDash Inc. Class A | call | Reduce -22.2% | 700,000 | $158.5M |
| WULF Terawulf Inc. | call | Add +14.6% | 13,474,600 | $154.8M |
| IBIT iShares Bitcoin Trust ETF | put | Sold out | 2,343,800 | $152.3Mbefore exit |
| GPN Global Payments Inc. | call | Add +875.0% | 1,950,000 | $150.9M |
| AMD Advanced Micro Devices | call | Add +25.0% | 700,300 | $150.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +10.2% | 219,200 | $149.5M |
Showing the first 50 of 704.
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
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | Sold out | 65,231 | $1.7Mbefore exit |
| DFDVW Defi Development Corp. | *W EXP 01/21/202 | New | 430,530 | $654K |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | Add +0.5% | 17,905 | $54K |
| LIMNW Liminatus Pharma Inc. Class A-28 | *W EXP 04/30/203 | Sold out | 97,325 | $12Kbefore exit |
| ASBPW Aspire Biopharma Holdin-CW27 | *W EXP 02/14/203 | Sold out | 150,000 | $5Kbefore exit |
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 | 1,086 | $23.6B | MU, ALIBABA GROUP HOLDING (BABA 0.5 06/01/31), AMD, NVDA, TECK |
| Q1 2026 | 1,040 | $12.0B | ALIBABA GROUP HOLDING (BABA 0.5 06/01/31), DLTR, TECK, NVDA, CTSH |
| Q4 2025 | 1,100 | $35.0B | ECHOSTAR CORP (ECHO 3.875 11/30/30), ALIBABA GROUP HOLDING (BABA 0.5 06/01/31), NVDA, TSLA, DLTR |
| Q3 2025 | 1,094 | $19.5B | TSLA, NVDA, HON, TSM, NKE |
| Q2 2025Amended | 738 | $12.4B | TSLA, NVDA, EQIX, TSM, CCI |
| Q1 2025 | 994 | $18.7B | COINBASE GLOBAL INC (COIN 0.5 06/01/26), NVDA, TSLA, NKE, PSX |
| Q4 2024 | 1,449 | $18.8B | TSLA, NVDA, COINBASE GLOBAL INC (COIN 0.5 06/01/26), BP, EQIX |
| Q3 2024Amended | 856 | $13.0B | NVDA, TSLA, COINBASE GLOBAL INC (COIN 0.5 06/01/26), META, DLTR |
| Q2 2024 | 1,069 | $15.5B | NVDA, DLTR, CTSH, TXN, CTLT |
| Q1 2024 | 914 | $12.3B | DLTR, CTSH, CTLT, JCI, APTV |