OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC)
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) reported 175 stock positions worth $3.6 billion. Its top holding was Cyberark Software Ltd./Israel (CYBR) at 13.0% of the portfolio, followed by Chart Industries (GTLS, 10.7%) and Comerica (CMA, 8.1%). Compared with Q3 2025, it opened 68 new positions, sold out of 82, added to 15 and reduced 35. The biggest buy was a new position in Comerica (CMA) and the biggest sale an exit from Verona Pharma (VRNA).
- Most Recent 13F
- Q4 2025
- Location
- CHICAGO, IL
- CIK
- 0001132716
- Portfolio Value
- $3.6B (Q4 2025)
- SEC Filing
- 0001132716-26-000004 ↗ filed Feb 13, 2026
Holdings Value
Holdings 175 stocks · $3.6B
| CYBR Cyberark Software Ltd./Israel | 13.01% | 1,040,571 | $464.2M | Add +5.3% |
| GTLS Chart Industries Inc. | 10.66% | 1,843,737 | $380.2M | Add +44.0% |
| CMA Comerica Inc. | 8.07% | 3,311,960 | $287.9M | New |
| DAY Dayforce Inc. | 7.94% | 4,096,708 | $283.3M | New |
| RNAM Avidity Biosciences Inc. | 7.51% | 3,716,597 | $268.1M | New |
| FYBR Frontier Communications Pare | 7.37% | 6,901,367 | $262.7M | Add +17.4% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 5.47% | 3,039,453 | $195.2M | Add +271.8% |
| HOLX Hologic Inc. | 5.44% | 2,605,031 | $194.0M | New |
| EXAS Exact Sciences Corp. | 5.07% | 1,779,212 | $180.7M | New |
| CADE Cadence Bank | 3.50% | 2,916,809 | $125.0M | New |
| CFLT Confluent Inc. Class A | 3.37% | 3,970,660 | $120.1M | New |
| KLAR Klarna Group PLC | 2.03% | 2,501,675 | $72.3M | New |
| CDTX Cidara Therapeutics Inc. | 1.95% | 315,474 | $69.7M | New |
| SEE Sealed Air Corp. | 1.39% | 1,195,854 | $49.5M | New |
| SNV Synovus Financial Corp. | 0.98% | 699,181 | $35.0M | New |
| AVGO Broadcom Inc. | 0.77% | 78,896 | $27.3M | Add +892.4% |
| MAT Mattel Inc. | 0.54% | 973,829 | $19.3M | Add +3.2% |
| NVDA Nvidia Corp. | 0.51% | 97,116 | $18.1M | Reduce -48.5% |
| AEP American Electric Power | 0.42% | 130,250 | $15.0M | Add +210.1% |
| CNP Centerpoint Energy Inc. | 0.41% | 381,495 | $14.6M | Reduce -1.6% |
| LNT Alliant Energy Corp. | 0.41% | 224,205 | $14.6M | Reduce -26.0% |
| FOLD Amicus Therapeutics Inc. | 0.40% | 1,000,000 | $14.2M | New |
| CRH CRH PLC | 0.38% | 109,645 | $13.7M | New |
| PH Parker Hannifin Corp. | 0.38% | 15,460 | $13.6M | New |
| WM Waste Management Inc. | 0.38% | 61,675 | $13.6M | New |
| IWM iShares Russell 2000 ETF | 0.36% | 52,000 | $12.8M | New |
| BA The Boeing Co. | 0.31% | 51,535 | $11.2M | New |
| CROX Crocs Inc. | 0.30% | 124,000 | $10.6M | No change |
| TLN Talen Energy Corp. | 0.28% | 26,225 | $9.8M | New |
| NEE Nextera Energy Inc. | 0.25% | 109,300 | $8.8M | New |
| BTG B2GOLD Corp. | 0.23% | 1,842,462 | $8.3M | Reduce -10.4% |
| PANW Palo Alto Networks Inc. | 0.23% | 45,000 | $8.3M | New |
| GOOGL Alphabet Inc. Class A | 0.22% | 25,010 | $7.8M | New |
| PLYM Plymouth Industrial REIT Inc. | 0.22% | 350,677 | $7.7M | Reduce -46.2% |
| HI Hillenbrand Inc. | 0.21% | 239,227 | $7.6M | New |
| JENA Jena Acquisition Corp. II - A | 0.20% | 700,000 | $7.1M | No change |
| TOST Toast Inc. Class A | 0.20% | 200,000 | $7.1M | Add +150.0% |
| KNX Knight-Swift Transportation | 0.20% | 133,935 | $7.0M | New |
| TSLA Tesla Inc. | 0.17% | 13,617 | $6.1M | Add +15.4% |
| TEL Te Connectivity PLC | 0.17% | 26,355 | $6.0M | New |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.17% | 36,021 | $5.9M | New |
| UAL United Airlines Holdings Inc. | 0.16% | 50,000 | $5.6M | New |
| SAIA Saia Inc. | 0.14% | 15,840 | $5.2M | New |
| EGHA Egh Acquisition Co. Class A | 0.14% | 500,000 | $5.1M | No change |
| MELI MercadoLibre Inc. | 0.14% | 2,500 | $5.0M | Reduce -62.0% |
| FLS Flowserve Corp. | 0.14% | 72,341 | $5.0M | New |
| HON Honeywell International Inc. | 0.14% | 25,712 | $5.0M | New |
| LYV Live Nation Entertainment Inc. | 0.14% | 34,200 | $4.9M | Reduce -49.0% |
| GTEN Gores Holdings X Inc. Class A | 0.14% | 474,941 | $4.9M | Reduce -13.7% |
| CEPV Cantor Equity Partners Class A | 0.13% | 450,000 | $4.6M | New |
| AXTA Axalta Coating Systems Ltd. | 0.13% | 140,600 | $4.5M | Add +64.9% |
| ETR Entergy Corp. | 0.13% | 48,830 | $4.5M | Reduce -76.6% |
| URI United Rentals Inc. | 0.12% | 5,400 | $4.4M | Reduce -38.4% |
| ANSC Agriculture & Natural Soluti | 0.12% | 384,160 | $4.3M | No change |
| BKNG Booking Holdings Inc. | 0.12% | 800 | $4.3M | New |
| CEG Constellation Energy | 0.12% | 12,100 | $4.3M | New |
| HWM Howmet Aerospace Inc. | 0.11% | 20,000 | $4.1M | Reduce -20.0% |
| DAL Delta Air Lines Inc. | 0.11% | 58,731 | $4.1M | Reduce -49.0% |
| BLZR Trailblazer Acquisition Class A | 0.11% | 400,000 | $4.0M | New |
| SNPS Synopsys Inc. | 0.11% | 8,000 | $3.8M | Reduce -57.5% |
| COHR Coherent Corp. | 0.10% | 20,257 | $3.7M | Add +27.2% |
| INTC Intel Corp. | 0.10% | 100,000 | $3.7M | Reduce -21.9% |
| VRT Vertiv Holdings Co. Class A | 0.10% | 22,057 | $3.6M | Add +3.1% |
| PDD PDD Holdings Inc. | 0.10% | 31,107 | $3.5M | Reduce -33.5% |
| NHIC Newhold Investment Cor III-A | 0.09% | 324,604 | $3.4M | Reduce -13.4% |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 0.09% | 324,923 | $3.3M | No change |
| OACC Oaktree Acquisition Corp. I-A | 0.09% | 300,000 | $3.2M | No change |
| TKO Tko Group Holdings Inc. | 0.09% | 15,000 | $3.1M | Add +150.0% |
| GFUZ General Fusion Group Ltd. filed as SPRING VY ACQUISITION CORP I | 0.09% | 300,000 | $3.0M | New |
| NCLH Norwegian Cruise Line Holdin | 0.08% | 135,000 | $3.0M | No change |
| APH Amphenol Corp. Class A | 0.08% | 22,110 | $3.0M | Reduce -55.8% |
| FSLR First Solar Inc. | 0.08% | 11,300 | $3.0M | New |
| CHRW C.H. Robinson Worldwide Inc. | 0.08% | 18,170 | $2.9M | Reduce -74.7% |
| ACEL Accel Entertainment Inc. | 0.08% | 246,728 | $2.8M | No change |
| GPAT GP-Act III Acquisition-A | 0.07% | 250,000 | $2.7M | Reduce -28.6% |
| AAM Aa Mission Acquisition Cor-A | 0.07% | 250,000 | $2.7M | No change |
| SVCC Stellar V Capital Corp. Class A | 0.07% | 250,000 | $2.6M | No change |
| BLUW Blue Water Acquisition C-A filed as BLUE WTR ACQUISITION CORP. I | 0.07% | 250,000 | $2.6M | No change |
| FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III | 0.07% | 250,000 | $2.6M | No change |
| NPAC New Providence Acquisition-A | 0.07% | 250,000 | $2.6M | No change |
| PFE Pfizer Inc. | 0.07% | 102,623 | $2.6M | New |
| CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II | 0.07% | 250,000 | $2.5M | No change |
| FTW Eqv Ventures Acquisition C-A | 0.07% | 242,175 | $2.5M | No change |
| TVAI Thayer Ventures Acquis Class A | 0.07% | 250,000 | $2.5M | No change |
| TLNC Talon Capital Corp. Class A | 0.07% | 250,000 | $2.5M | New |
| OBA Oxley Bridge Acquisitio Class A | 0.07% | 250,000 | $2.5M | No change |
| PACH Pioneer Acquisition I Class A | 0.07% | 250,000 | $2.5M | No change |
| SOCA Solarius Capital Acquis Class A | 0.07% | 250,000 | $2.5M | No change |
| GEV GE Vernova Inc. | 0.07% | 3,834 | $2.5M | New |
| MBVI M3-Brigade Acquisition Class A | 0.07% | 250,000 | $2.5M | New |
| HVMC Highview Merger Corp. Class A | 0.07% | 250,000 | $2.5M | New |
| KOYN CSLM Digital Asset Acqu - A | 0.07% | 250,000 | $2.5M | No change |
| BEAG Bold Eagle Acquisition Cor-A | 0.07% | 219,217 | $2.3M | Reduce -56.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.06% | 15,000 | $2.3M | New |
| RNGT Range Capital Acquisit Class A | 0.06% | 225,000 | $2.2M | New |
| ASML ASML Holding NV-NY Reg SHS | 0.06% | 2,000 | $2.1M | New |
| WAB Wabtec Corp. | 0.06% | 10,000 | $2.1M | New |
| CCIX Churchill Capital Corp. Ix | 0.06% | 199,274 | $2.1M | Reduce -20.3% |
| ATII Archimedes Tech Spac Partner | 0.06% | 200,000 | $2.1M | No change |
| CCII Cohen Circle Acquisit II - A | 0.06% | 200,000 | $2.0M | No change |
Options reported separately and not counted above: LCID puts ($4.1M), HTZ puts ($752K), SABR puts ($706K), CC puts ($619K), HOG puts ($550K), AAL puts ($534K), CHTR puts ($510K), RIG calls ($460K), F puts ($448K), CROX puts ($425K), RIG puts ($188K), MGM puts ($181K), and 24 more.
Other holdings (25): bonds, preferreds, convertibles and warrants · $178.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 90,000,000 | $93.7M | New |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 27,352,000 | $27.1M | No change |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 12,300,000 | $19.0M | Add +392.0% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 20,000,000 | $18.3M | Reduce -9.1% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 10,000,000 | $10.2M | No change |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 7,500,000 | $8.0M | Reduce -57.1% |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 274,523 | $1.2M | Reduce -7.8% |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 9,500 | $751K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 400,000 | $134K | No change |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 133,333 | $69K | New |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 200,000 | $60K | No change |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 80,724 | $41K | New |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | 50,000 | $32K | New |
| RMCOW American Acq Class A -CW26 | *W EXP 10/31/202 | 221,686 | $29K | No change |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 | 282,640 | $24K | No change |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | 50,000 | $20K | New |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | 100,000 | $13K | New |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | 75,000 | $11K | No change |
| OPTXW Omnilit Acquisition Class A -23 | *W EXP 99/99/999 | 32,034 | $8K | No change |
| SCAGW Scage Future -30 | *W EXP 05/15/203 | 127,590 | $8K | No change |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 | 181,387 | $7K | No change |
| BNAIW Brand Engagement Netwo -CW27 | *W EXP 03/14/202 | 150,251 | $7K | No change |
| MSAIW Sportsmap Tech Acq -CW27 | *W EXP 12/19/202 | 142,585 | $6K | No change |
| BRLSW Oxus Acquisition Corp. -CW23 | *W EXP 02/07/202 | 70,030 | $4K | No change |
| BSLKW Golden Arrow Merger A -CW26 | *W EXP 08/13/202 | 110,914 | $2K | No change |
Total filed on the 13F, all lines: $3.7B.
Portfolio Sells Q3 2025 → Q4 2025
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −14.60 |
| K Kellanova | Sold out | 0.00% | −9.25 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −5.38 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −4.22 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −3.62 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −3.39 |
| MRUS Merus NV | Sold out | 0.00% | −1.97 |
| ELME Elme Communities | Sold out | 0.00% | −1.01 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.97 |
| SPNS Sapiens International Corp. | Sold out | 0.00% | −0.62 |
| NVDA Nvidia Corp. | Reduce -48.5% | 0.51% | −0.62 |
| SO The Southern Co. | Sold out | 0.00% | −0.61 |
| PKG Packaging Corp. of America | Reduce -94.3% | 0.02% | −0.50 |
| ETR Entergy Corp. | Reduce -76.6% | 0.13% | −0.49 |
| WCN Waste Connections Inc. | Sold out | 0.00% | −0.36 |
| ITUB Itau Unibanco H-Spon PRF ADR | Sold out | 0.00% | −0.35 |
| MELI MercadoLibre Inc. | Reduce -62.0% | 0.14% | −0.35 |
| EMBJ Embraer SA-Spon ADR | Sold out | 0.00% | −0.33 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −0.31 |
| KSPI JSC Kaspi.kz ADR | Sold out | 0.00% | −0.30 |
| CLH Clean Harbors Inc. | Sold out | 0.00% | −0.29 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −0.29 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.27 |
| NRG NRG Energy Inc. | Sold out | 0.00% | −0.25 |
| VST Vistra Corp. | Sold out | 0.00% | −0.25 |
| PLYM Plymouth Industrial REIT Inc. | Reduce -46.2% | 0.22% | −0.25 |
| LNT Alliant Energy Corp. | Reduce -26.0% | 0.41% | −0.24 |
| PNR Pentair PLC | Sold out | 0.00% | −0.24 |
| PONY Pony AI Inc. | Sold out | 0.00% | −0.22 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -74.7% | 0.08% | −0.22 |
| LYV Live Nation Entertainment Inc. | Reduce -49.0% | 0.14% | −0.21 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.20 |
| SNPS Synopsys Inc. | Reduce -57.5% | 0.11% | −0.19 |
| HUBG Hub Group Inc. Class A | Sold out | 0.00% | −0.19 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.19 |
| PAGS Pagseguro Digital Ltd. Class A | Sold out | 0.00% | −0.19 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.18 |
| INTR Inter & Co. Inc. Class A | Sold out | 0.00% | −0.17 |
| GTES Gates Industrial Corp. UK Ltd. | Sold out | 0.00% | −0.17 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.16 |
| META Meta Platforms Inc. Class A | Reduce -82.4% | 0.03% | −0.16 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.16 |
| MRLN Merlin Inc. | Sold out | 0.00% | −0.15 |
| URI United Rentals Inc. | Reduce -38.4% | 0.12% | −0.14 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.14 |
| MTZ Mastec Inc. | Sold out | 0.00% | −0.13 |
| FMX Fomento Economico Mex-SP ADR | Sold out | 0.00% | −0.13 |
| AEXA American Exceptionalism Class A | Reduce -87.5% | 0.02% | −0.12 |
| RAL Ralliant Corp. | Sold out | 0.00% | −0.12 |
| LIN Linde PLC | Sold out | 0.00% | −0.12 |
Portfolio Buys Q3 2025 → Q4 2025
| CMA Comerica Inc. | New | 8.07% | +8.07 |
| DAY Dayforce Inc. | New | 7.94% | +7.94 |
| RNAM Avidity Biosciences Inc. | New | 7.51% | +7.51 |
| HOLX Hologic Inc. | New | 5.44% | +5.44 |
| EXAS Exact Sciences Corp. | New | 5.07% | +5.07 |
| AL Sumisho Air Lease Corp. | Add +271.8% | 5.47% | +3.81 |
| CADE Cadence Bank | New | 3.50% | +3.50 |
| CFLT Confluent Inc. Class A | New | 3.37% | +3.37 |
| GTLS Chart Industries Inc. | Add +44.0% | 10.66% | +2.48 |
| KLAR Klarna Group PLC | New | 2.03% | +2.03 |
| CDTX Cidara Therapeutics Inc. | New | 1.95% | +1.95 |
| SEE Sealed Air Corp. | New | 1.39% | +1.39 |
| SNV Synovus Financial Corp. | New | 0.98% | +0.98 |
| AVGO Broadcom Inc. | Add +892.4% | 0.77% | +0.68 |
| FOLD Amicus Therapeutics Inc. | New | 0.40% | +0.40 |
| CRH CRH PLC | New | 0.38% | +0.38 |
| PH Parker Hannifin Corp. | New | 0.38% | +0.38 |
| WM Waste Management Inc. | New | 0.38% | +0.38 |
| IWM iShares Russell 2000 ETF | New | 0.36% | +0.36 |
| FYBR Frontier Communications Pare | Add +17.4% | 7.37% | +0.35 |
| BA The Boeing Co. | New | 0.31% | +0.31 |
| TLN Talen Energy Corp. | New | 0.28% | +0.28 |
| AEP American Electric Power | Add +210.1% | 0.42% | +0.27 |
| NEE Nextera Energy Inc. | New | 0.25% | +0.25 |
| PANW Palo Alto Networks Inc. | New | 0.23% | +0.23 |
| GOOGL Alphabet Inc. Class A | New | 0.22% | +0.22 |
| HI Hillenbrand Inc. | New | 0.21% | +0.21 |
| KNX Knight-Swift Transportation | New | 0.20% | +0.20 |
| TEL Te Connectivity PLC | New | 0.17% | +0.17 |
| FUTU Futu Holdings Ltd.-ADR | New | 0.17% | +0.17 |
| UAL United Airlines Holdings Inc. | New | 0.16% | +0.16 |
| SAIA Saia Inc. | New | 0.14% | +0.14 |
| FLS Flowserve Corp. | New | 0.14% | +0.14 |
| HON Honeywell International Inc. | New | 0.14% | +0.14 |
| CEPV Cantor Equity Partners Class A | New | 0.13% | +0.13 |
| BKNG Booking Holdings Inc. | New | 0.12% | +0.12 |
| CEG Constellation Energy | New | 0.12% | +0.12 |
| BLZR Trailblazer Acquisition Class A | New | 0.11% | +0.11 |
| TOST Toast Inc. Class A | Add +150.0% | 0.20% | +0.11 |
| GFUZ General Fusion Group Ltd. | New | 0.09% | +0.09 |
| FSLR First Solar Inc. | New | 0.08% | +0.08 |
| PFE Pfizer Inc. | New | 0.07% | +0.07 |
| TLNC Talon Capital Corp. Class A | New | 0.07% | +0.07 |
| GEV GE Vernova Inc. | New | 0.07% | +0.07 |
| HVMC Highview Merger Corp. Class A | New | 0.07% | +0.07 |
| MBVI M3-Brigade Acquisition Class A | New | 0.07% | +0.07 |
| TJX TJX Companies Inc. | New | 0.06% | +0.06 |
| RNGT Range Capital Acquisit Class A | New | 0.06% | +0.06 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.06% | +0.06 |
| WAB Wabtec Corp. | New | 0.06% | +0.06 |
Options Activity Q3 2025 → Q4 2025
| LCID Lucid Group Inc. | put | Reduce -12.2% | 2,777,800 | $4.1M |
| VRT Vertiv Holdings Co. Class A | call | Sold out | 75,000 | $1.4Mbefore exit |
| HOG Harley-Davidson Inc. | put | Reduce -33.3% | 250,000 | $550K |
| AAL American Airlines Group Inc. | put | Reduce -41.4% | 5,460,000 | $534K |
| CHTR Charter Communications Inc. Class A | put | Add +2.9% | 21,100 | $510K |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 96,000 | $347Kbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 68,500 | $240Kbefore exit |
| CROX Crocs Inc. | call | Sold out | 125,000 | $231Kbefore exit |
| CMCSA Comcast Corp. Class A | call | New | 100,000 | $173K |
| TLT iShares 20+ Year Treasury BD | call | Sold out | 50,000 | $122Kbefore exit |
| SVC Service Pptys TR | call | Sold out | 600,000 | $105Kbefore exit |
| XOP SS SPDR S&P Og Exp & Prod | call | Sold out | 37,000 | $101Kbefore exit |
| NKE Nike Inc. Class B | call | Sold out | 29,500 | $82Kbefore exit |
| LYV Live Nation Entertainment Inc. | put | Sold out | 32,500 | $52Kbefore exit |
| MAT Mattel Inc. | call | Sold out | 355,000 | $44Kbefore exit |
| B Barrick Mining Corp. | call | Sold out | 143,000 | $41Kbefore exit |
| TPH Tri Pointe Homes Inc. | put | Sold out | 23,600 | $31Kbefore exit |
| SMH Vaneck Semiconductor ETF | put | Sold out | 10,300 | $31Kbefore exit |
| WT Wisdomtree Inc. | put | New | 100,000 | $30K |
| GDX Vaneck Gold Miners ETF | call | Sold out | 13,500 | $27Kbefore exit |
| RIOT Riot Platforms Inc. | call | Sold out | 29,200 | $24Kbefore exit |
| CAKE The Cheesecake Factory Inc. | put | Add +14.3% | 20,000 | $21K |
| ANET Arista Networks Inc. | call | Sold out | 23,500 | $20Kbefore exit |
| IWM iShares Russell 2000 ETF | put | New | 45,000 | $11K |
| ET Energy Transfer LP | call | Sold out | 600,000 | $9Kbefore exit |
| EXE Expand Energy Corp. | call | New | 20,000 | $8K |
| SKT Tanger Inc. | put | Sold out | 13,500 | $8Kbefore exit |
| AVGO Broadcom Inc. | call | New | 40,000 | $6K |
| DOCN Digitalocean Holdings Inc. | put | New | 15,000 | $3K |
| MGNI Magnite Inc. | call | Reduce -86.2% | 32,000 | $800 |
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
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | New | 90,000,000 | $93.7M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Sold out | 20,000,000 | $30.4Mbefore exit |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Sold out | 18,000,000 | $20.7Mbefore exit |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | Add +392.0% | 12,300,000 | $19.0M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | Reduce -9.1% | 20,000,000 | $18.3M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Sold out | 15,000,000 | $16.1Mbefore exit |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Sold out | 16,000,000 | $16.0Mbefore exit |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 10,000,000 | $13.7Mbefore exit |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Sold out | 7,000,000 | $9.9Mbefore exit |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Reduce -57.1% | 7,500,000 | $8.0M |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | Sold out | 19,000,000 | $3.8Mbefore exit |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | Reduce -7.8% | 274,523 | $1.2M |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | Sold out | 89,434 | $103Kbefore exit |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | New | 133,333 | $69K |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | Sold out | 187,499 | $61Kbefore exit |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | Sold out | 50,000 | $56Kbefore exit |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | Sold out | 165,500 | $44Kbefore exit |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | Sold out | 250,000 | $44Kbefore exit |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | New | 80,724 | $41K |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | New | 50,000 | $32K |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | Sold out | 120,000 | $28Kbefore exit |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | Sold out | 175,000 | $28Kbefore exit |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | Sold out | 75,000 | $26Kbefore exit |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | Sold out | 24,800 | $23Kbefore exit |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | Sold out | 125,000 | $23Kbefore exit |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | New | 50,000 | $20K |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | New | 100,000 | $13K |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | Sold out | 65,696 | $4Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025Amended | 175 | $3.6B | CYBR, GTLS, CMA, DAY, RNAM |
| Q3 2025Amended | 189 | $3.1B | CYBR, VRNA, K, GTLS, FYBR |
| Q2 2025Amended | 262 | $3.5B | K, WBA, SKX, BPMC, FYBR |
| Q1 2025Amended | 239 | $4.1B | HES, DFS, ITCI, K, CHX |
| Q4 2024Amended | 312 | $3.9B | HES, JNPR, K, HCP, SMAR |
| Q3 2024Amended | 367 | $3.9B | HES, K, CTLT, HCP, JNPR |
| Q2 2024Amended | 385 | $3.3B | HES, JNPR, HCP, CTLT, ETRN |
| Q1 2024Amended | 370 | $3.2B | PXD, HES, JNPR, X, CERE |