OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC)

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) reported 312 stock positions worth $3.9 billion. Its top holding was Hess (HES) at 9.8% of the portfolio, followed by Juniper Networks (JNPR, 7.9%) and Kellanova (K, 7.8%). Compared with Q3 2024, it opened 96 new positions, sold out of 151, added to 124 and reduced 57. The biggest buy was a new position in Discover Financial Services (DFS) and the biggest sale an exit from Catalent (CTLT).

Most Recent 13F
Q4 2025
Location
CHICAGO, IL
CIK
0001132716
Portfolio Value
$3.9B (Q4 2024)
SEC Filing
0001132716-25-000004 ↗ filed Feb 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $3.2B Q1 2024 Q2 2024: $3.3B Q2 2024 Q3 2024: $3.9B Q3 2024 Q4 2024: $3.9B $3.9B Q4 2024 Q1 2025: $4.1B Q1 2025 Q2 2025: $3.5B Q2 2025 Q3 2025: $3.1B Q3 2025 Q4 2025: $3.6B Q4 2025

Holdings 312 stocks · $3.9B
HES Hess Corp. 9.83% 2,878,800 $382.9M Reduce -3.1%
JNPR Juniper Networks Inc. 7.89% 8,200,000 $307.1M Add +40.9%
K Kellanova 7.84% 3,768,372 $305.1M Reduce -0.3%
HCP Hashicorp Inc. Class A 6.03% 6,858,790 $234.6M Add +0.2%
SMAR Smartsheet Inc. Class A 5.55% 3,854,149 $215.9M Add +670.8%
CHX Championx Corp. 5.39% 7,720,189 $209.9M Add +25.8%
DFS Discover Financial Services 5.19% 1,166,698 $202.1M New
EDR Endeavor Group Hold Class A 3.71% 4,612,518 $144.3M Reduce -1.5%
FYBR Frontier Communications Pare 3.69% 4,136,184 $143.5M Add +589.4%
SUM Summit Materials Inc. Class A 2.64% 2,033,333 $102.9M New
SPR Spirit Aerosystems Hold Class A 2.58% 2,952,014 $100.6M Add +6.2%
ANSS Ansys Inc. 2.55% 293,962 $99.2M Reduce -16.9%
ALTR Altair Engineering Inc. Class A 2.52% 897,580 $97.9M New
AMED Amedisys Inc. 2.41% 1,034,812 $94.0M Add +107.0%
BERY Berry Global Group Inc. 1.44% 864,438 $55.9M New
X United States Steel Corp. 1.20% 1,375,323 $46.7M Reduce -55.0%
CRH CRH PLC 0.67% 282,000 $26.1M New
ARCH Arch Resources Inc. 0.65% 179,259 $25.3M Add +1181.5%
BALY Bally's Corp. 0.62% 1,349,803 $24.1M Reduce -4.6%
NVDA Nvidia Corp. 0.62% 178,409 $24.0M Add +73.1%
ZUO Zuora Inc. Class A 0.58% 2,285,873 $22.7M New
ALTM Arcadium Lithium PLC 0.58% 4,400,241 $22.6M New
MELI MercadoLibre Inc. 0.56% 12,890 $21.9M Add +135.4%
ML Moneylion Inc. 0.54% 244,490 $21.0M New
XPEV Xpeng Inc. - ADR 0.53% 1,759,750 $20.8M Add +947.5%
PH Parker Hannifin Corp. 0.50% 30,380 $19.3M Add +6.0%
NRG NRG Energy Inc. 0.49% 209,410 $18.9M New
ESGR Enstar Group Ltd. 0.48% 57,901 $18.6M New
CCK Crown Holdings Inc. 0.45% 213,370 $17.6M Add +91.2%
FLUT Flutter Entertainment PLC-Di 0.45% 68,000 $17.6M Add +126.7%
MAT Mattel Inc. 0.44% 969,029 $17.2M No change
BABA Alibaba Group Holding-SP ADR 0.43% 196,410 $16.7M Add +7756.4%
XEL Xcel Energy Inc. 0.41% 237,610 $16.0M New
NI Nisource Inc. 0.41% 434,200 $16.0M New
HUBB Hubbell Inc. 0.41% 38,100 $16.0M Add +56.1%
RSG Republic Services Inc. 0.41% 78,800 $15.9M New
ALV Autoliv Inc. 0.39% 162,490 $15.2M Add +425.9%
LHX L3HARRIS Technologies Inc. 0.39% 71,290 $15.0M Add +105.5%
SO The Southern Co. 0.37% 173,610 $14.3M Add +91.4%
TEL Te Connectivity PLC 0.37% 99,600 $14.2M New
TCOM Trip.com Group Ltd.-ADR 0.33% 189,500 $13.0M New
ITUB Itau Unibanco H-Spon PRF ADR 0.33% 2,612,786 $13.0M Add +84.1%
CARR Carrier Global Corp. 0.33% 187,000 $12.8M New
DAL Delta Air Lines Inc. 0.32% 203,684 $12.3M Add +25.4%
NSC Norfolk Southern Corp. 0.31% 51,660 $12.1M Reduce -1.7%
LIN Linde PLC 0.31% 28,600 $12.0M New
CNI Canadian Natl Railway Co. 0.30% 114,800 $11.7M New
CRM Salesforce Inc. 0.29% 33,896 $11.3M Add +577.9%
DOW Dow Inc. 0.27% 261,700 $10.5M New
MSFT Microsoft Corp. 0.27% 24,844 $10.5M Add +105.0%
SHW The Sherwin-Williams Co. 0.24% 27,700 $9.4M New
TOST Toast Inc. Class A 0.23% 250,000 $9.1M New
LI Li Auto Inc. - ADR 0.23% 371,950 $8.9M New
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.23% 93,465 $8.9M Add +52.0%
FTAI Ftai Aviation Ltd. 0.23% 61,000 $8.8M New
OXY Occidental Petroleum Corp. 0.21% 166,400 $8.2M No change
AVGO Broadcom Inc. 0.21% 34,674 $8.0M Reduce -56.4%
HON Honeywell International Inc. 0.19% 33,500 $7.6M New
FLS Flowserve Corp. 0.19% 130,000 $7.5M New
SHOP Shopify Inc. Class A 0.19% 70,000 $7.4M Add +40.0%
TSM Taiwan Semiconductor-SP ADR 0.19% 37,500 $7.4M Add +63.0%
CFLT Confluent Inc. Class A 0.19% 262,500 $7.3M Add +36.4%
MMM 3M Co. 0.19% 56,300 $7.3M Reduce -63.1%
CMC Commercial Metals Co. 0.18% 145,270 $7.2M New
EQC Equity Commonwealth 0.18% 4,051,687 $7.2M Add +85.6%
VFC VF Corp. 0.18% 325,000 $7.0M Add +333.3%
AMZN Amazon.com Inc. 0.18% 31,540 $6.9M Reduce -11.9%
SKGR SK Growth Opportunities Co. Class A 0.18% 594,910 $6.9M No change
ROK Rockwell Automation Inc. 0.18% 24,000 $6.9M New
GDX Vaneck Gold Miners ETF 0.17% 200,000 $6.8M No change
FTV Fortive Corp. 0.17% 89,300 $6.7M Add +41.5%
AAPL Apple Inc. 0.16% 25,180 $6.3M Add +119.6%
BKR Baker Hughes Co. 0.15% 145,990 $6.0M Reduce -46.1%
BA The Boeing Co. 0.15% 33,710 $6.0M New
APH Amphenol Corp. Class A 0.14% 80,900 $5.6M New
WDAY Workday Inc. Class A 0.14% 20,900 $5.4M New
GLOB Globant SA 0.14% 24,644 $5.3M Add +18.8%
FLR Fluor Corp. 0.13% 106,130 $5.2M Reduce -39.0%
INFA Informatica Inc. Class A 0.13% 200,000 $5.2M Reduce -7.0%
VCIC Vine Hill Capital Class A 0.12% 475,000 $4.8M No change
BDX Becton Dickinson and Co. 0.12% 20,588 $4.7M Add +17.1%
SPT Sprout Social Inc. Class A 0.12% 150,000 $4.6M Reduce -6.3%
NCLH Norwegian Cruise Line Holdin 0.12% 178,031 $4.6M No change
CDE Coeur Mining Inc. 0.12% 800,000 $4.6M New
OACC Oaktree Acquisition Corp. I-A 0.12% 450,000 $4.5M New
ROKU Roku Inc. 0.11% 58,500 $4.3M Add +1.3%
BILI Bilibili Inc.-Sponsored ADR 0.11% 231,163 $4.2M New
RENEF Cartesian Growth Corp. II- A 0.11% 356,946 $4.2M No change
AS Amer Sports Inc. 0.11% 148,156 $4.1M Reduce -1.2%
CCIXU Churchill Capital Corp. Ix 0.11% 387,480 $4.1M No change
GEV GE Vernova Inc. 0.10% 12,400 $4.1M New
BEAGU Bold Eagle Acquisition Corp. 0.10% 400,000 $4.0M New
AZN Astrazeneca PLC-Spons ADR 0.10% 61,447 $4.0M New
VST Vistra Corp. 0.10% 28,910 $4.0M Reduce -68.5%
EMBJ Embraer SA-Spon ADR 0.10% 108,550 $4.0M Reduce -49.0%
GPK Graphic Packaging Holding Co. 0.10% 146,300 $4.0M New
APD Air Products & Chemicals Inc. 0.10% 13,660 $4.0M New
CLH Clean Harbors Inc. 0.10% 17,200 $4.0M Reduce -39.9%
ARCO Arcos Dorados Holdings Inc. Class A 0.10% 519,496 $3.8M Add +11.7%
JD Jd.com Inc.-ADR 0.10% 108,100 $3.7M Reduce -61.5%
ARCB Arcbest Corp. 0.10% 40,130 $3.7M New
CYH Community Health Systems Inc. 0.10% 1,250,000 $3.7M Add +25.0%
BIDU Baidu Inc. - Spon ADR 0.09% 43,756 $3.7M New
INTR Inter & Co. Inc. Class A 0.09% 834,042 $3.5M Add +263.4%
ANSC Agriculture & Natural Soluti 0.09% 334,160 $3.5M No change
ORCL Oracle Corp. 0.09% 20,729 $3.5M New
QURE Uniqure NV 0.09% 192,223 $3.4M Reduce -3.0%
ANET Arista Networks Inc. 0.09% 30,000 $3.3M New
NTES Netease Inc.-ADR 0.08% 36,000 $3.2M New
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.08% 3,000 $3.2M New
NBIX Neurocrine Biosciences Inc. 0.08% 23,111 $3.2M Reduce -27.0%
BSAC Banco Santander-Chile-ADR 0.08% 167,091 $3.2M Add +46.1%
VSTM Verastem Inc. 0.08% 608,524 $3.1M Add +41.3%
GTES Gates Industrial Corp. UK Ltd. 0.08% 149,080 $3.1M Reduce -48.0%
TEVA Teva Pharmaceutical-SP ADR 0.08% 138,025 $3.0M Add +74.4%
ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD 0.08% 16,199 $3.0M Add +145.4%
AMX America Movil Sab DE CV 0.08% 206,761 $3.0M Add +28.9%
REPL Replimune Group Inc. 0.08% 241,570 $2.9M Add +25.1%
AXTA Axalta Coating Systems Ltd. 0.07% 85,250 $2.9M No change
PLAOF Patria Latin American Opport 0.07% 237,964 $2.8M No change
BTG B2GOLD Corp. 0.07% 1,108,000 $2.7M New
SNOW Snowflake Inc. 0.07% 17,500 $2.7M Add +75.0%
ACEL Accel Entertainment Inc. 0.07% 246,728 $2.6M No change
SLV iShares Silver Trust 0.07% 100,000 $2.6M New
PCAR Paccar Inc. 0.07% 25,000 $2.6M New
RZLT Rezolute Inc. 0.07% 526,223 $2.6M Add +19.8%
NETD Nabors Energy Transition C-A 0.06% 233,912 $2.5M No change
MLACU Mountain Lake Acquisition Co. 0.06% 250,000 $2.5M New
BARNES GROUP INC 0.06% 52,890 $2.5M New
LX Lexinfintech Holdings L-ADR 0.06% 425,100 $2.5M New
SBXDF Silverbox Corp. IV-A 0.06% 242,175 $2.5M New
FTW Eqv Ventures Acquisition C-A 0.06% 242,175 $2.4M No change
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 0.06% 1,000,000 $2.4M No change
AXGN Axogen Inc. 0.06% 140,428 $2.3M Reduce -0.9%
OCUL Ocular Therapeutix Inc. 0.06% 270,422 $2.3M Add +22.0%
ABT Abbott Laboratories 0.06% 20,396 $2.3M Reduce -29.0%
ALDFU Aldel Financial II Inc. 0.06% 225,000 $2.3M New
WMT Walmart Inc. 0.06% 25,000 $2.3M Add +25.0%
COLOMBIER ACQUISITION CORP 0.06% 191,738 $2.3M Reduce -50.5%
MCD McDonald's Corp. 0.06% 7,500 $2.2M New
TWLO Twilio Inc. Class A 0.06% 20,000 $2.2M New
ROIV Roivant Sciences Ltd. 0.05% 179,266 $2.1M Add +22.0%
IONS Ionis Pharmaceuticals Inc. 0.05% 60,580 $2.1M Add +63.9%
PTCT PTC Therapeutics Inc. 0.05% 46,894 $2.1M Add +49.2%
DXCM Dexcom Inc. 0.05% 26,904 $2.1M Add +10.5%
TFX Teleflex Inc. 0.05% 11,593 $2.1M Add +82.8%
TMCI Treace Medical Concepts Inc. 0.05% 274,200 $2.0M Add +25.9%
PRAX Praxis Precision Medicines I 0.05% 26,503 $2.0M Reduce -31.1%
DECK Deckers Outdoor Corp. 0.05% 10,000 $2.0M Reduce -16.7%
LEGT Legato Merger Corp. III 0.05% 193,740 $2.0M New
KNSA Kiniksa Pharmaceuticals Inte 0.05% 99,632 $2.0M Add +32.5%
SN Sharkninja Inc. 0.05% 20,000 $1.9M New
INVZ Innoviz Technologies Ltd. 0.05% 1,150,000 $1.9M New
IDYA Ideaya Biosciences Inc. 0.05% 72,716 $1.9M Add +49.6%
INSM Insmed Inc. 0.05% 26,615 $1.8M Add +22.0%
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 0.05% 350,000 $1.8M New
ATEC Alphatec Holdings Inc. 0.05% 197,992 $1.8M Add +22.0%
ARES ACQUISITION CORP II 0.05% 165,422 $1.8M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.05% 15,000 $1.8M New
BMRN Biomarin Pharmaceutical Inc. 0.05% 26,840 $1.8M New
BPMC Blueprint Medicines Corp. 0.05% 20,133 $1.8M Reduce -9.5%
ON On Semiconductor 0.04% 27,500 $1.7M Add +175.0%
IRTC Irhythm Holdings Inc. 0.04% 19,191 $1.7M Reduce -22.4%
OFIX Orthofix Medical Inc. 0.04% 97,461 $1.7M Add +14.8%
ADI Analog Devices Inc. 0.04% 8,000 $1.7M Add +60.0%
EVLV Evolv Technologies Holdings 0.04% 430,223 $1.7M No change
ITCI Intra-Cellular Therapies Inc. 0.04% 20,284 $1.7M Add +17.0%
BBIO Bridgebio Pharma Inc. 0.04% 61,118 $1.7M Add +4.3%
CDLX Cardlytics Inc. 0.04% 450,000 $1.7M No change
VALE Vale SA-SP ADR 0.04% 187,296 $1.7M New
ANNX Annexon Inc. 0.04% 318,884 $1.6M Reduce -0.5%
ALGS Aligos Therapeutics Inc. 0.04% 40,096 $1.6M Reduce -40.2%
ADT Adt Inc. 0.04% 229,607 $1.6M No change
IFRX Inflarx NV 0.04% 625,589 $1.5M Reduce -21.6%
BAP Credicorp Ltd. 0.04% 8,311 $1.5M No change
KIDS Orthopediatrics Corp. 0.04% 65,292 $1.5M Add +25.5%
ALGN Align Technology Inc. 0.04% 7,250 $1.5M Add +33.0%
FFIV F5 Inc. 0.04% 6,000 $1.5M New
SWTX Springworks Therapeutics Inc. 0.04% 41,493 $1.5M Add +45.5%
POLE Andretti Acquisition Corp. Class A 0.04% 150,000 $1.5M No change
NKTR Nektar Therapeutics 0.04% 1,580,916 $1.5M Add +37.4%
INCY Incyte Corp. 0.04% 21,188 $1.5M Reduce -11.2%
KALV Kalvista Pharmaceuticals Inc. 0.04% 172,693 $1.5M Add +27.4%
ZS Zscaler Inc. 0.04% 8,100 $1.5M Add +102.5%
CAPR Capricor Therapeutics Inc. 0.04% 104,798 $1.4M Add +26.4%
FNA Paragon 28 Inc. 0.04% 138,854 $1.4M Reduce -7.9%
AGIO Agios Pharmaceuticals Inc. 0.04% 43,330 $1.4M Add +105.5%
RIGL Rigel Pharmaceuticals Inc. 0.04% 84,311 $1.4M Reduce -27.9%
CRNX Crinetics Pharmaceuticals Inc. 0.04% 27,687 $1.4M Add +12.1%
ORIC Oric Pharmaceuticals Inc. 0.04% 174,846 $1.4M Add +22.0%
YUMC Yum China Holdings Inc. 0.04% 28,900 $1.4M New
STNE Stoneco Ltd. Class A 0.04% 173,478 $1.4M Add +5.9%
PLRX Pliant Therapeutics Inc. 0.04% 103,563 $1.4M Add +22.0%
RLAY Relay Therapeutics Inc. 0.04% 330,699 $1.4M Add +195.1%
IMCR Immunocore Holdings PLC-ADR 0.03% 45,274 $1.3M Add +28.9%
ABBV Abbvie Inc. 0.03% 7,488 $1.3M Add +553.4%
ADPT Adaptive Biotechnologies 0.03% 213,829 $1.3M Add +29.4%
KALA Kala Bio Inc. 0.03% 178,934 $1.2M Add +10.0%
AFYA Afya Ltd. Class A 0.03% 77,815 $1.2M Add +27.8%
SNDX Syndax Pharmaceuticals Inc. 0.03% 90,232 $1.2M Add +0.8%
ALC Alcon Inc. filed as ALCON AG 0.03% 14,039 $1.2M Add +16.9%
ATXS Astria Therapeutics Inc. 0.03% 129,666 $1.2M Add +4.4%
RCUS Arcus Biosciences Inc. 0.03% 76,646 $1.1M Add +140.6%
ALLK Allakos LLC 0.03% 936,797 $1.1M Add +20.5%
BCYC Bicycle Therapeutics PLC-ADR 0.03% 80,236 $1.1M Add +123.0%
MLTX Moonlake Immunotherapeutics 0.03% 20,740 $1.1M Add +29.6%
AURA Aura Biosciences Inc. 0.03% 136,516 $1.1M Add +27.7%
IOVA Iovance Biotherapeutics Inc. 0.03% 149,913 $1.1M Add +31.8%
ALCYF Alchemy Investments Acquisit 0.03% 100,248 $1.1M No change
ARQT Arcutis Biotherapeutics Inc. 0.03% 77,555 $1.1M Reduce -15.7%
HAYMAKER ACQUISITION CORP 4 0.03% 100,248 $1.1M No change
MIRM Mirum Pharmaceuticals Inc. 0.03% 25,059 $1.0M Add +51.5%
BOX Box Inc. Class A 0.03% 32,500 $1.0M New
KPTI Karyopharm Therapeutics Inc. 0.03% 1,483,727 $1.0M Add +24.0%
SKIL Skillsoft Corp. 0.03% 41,692 $999K No change
LION Lionsgate Studios Corp. 0.03% 130,774 $994K No change
BAX Baxter International Inc. 0.03% 33,604 $980K Reduce -21.0%
SONO Sonos Inc. 0.03% 65,000 $978K New
ITOS Iteos Therapeutics Inc. 0.02% 125,589 $965K Add +90.5%
BLCO Bausch + Lomb Corp. 0.02% 52,460 $947K Add +34.5%
ELF Elf Beauty Inc. 0.02% 7,500 $942K New
RARE Ultragenyx Pharmaceutical Inc. 0.02% 22,284 $937K Add +4.8%
COO The Cooper Cos Inc. 0.02% 10,112 $930K Add +22.0%
XFOR X4 Pharmaceuticals Inc. 0.02% 1,264,358 $928K Reduce -18.4%
SDGR Schrodinger Inc. 0.02% 46,914 $905K Add +65.7%
IRON Disc Medicine Inc. 0.02% 14,257 $904K Reduce -2.9%
XNCR Xencor Inc. 0.02% 39,040 $897K Add +22.0%
NVNO Envveno Medical Corporation 0.02% 296,031 $894K No change
SLN Silence Therapeutics PLC-ADR 0.02% 128,990 $887K Add +50.5%
OVID Ovid Therapeutics Inc. 0.02% 943,416 $881K Add +50.2%
VRDN Viridian Therapeutics Inc. 0.02% 44,600 $855K New
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.02% 2,937 $851K New
UWMC Uwm Holdings Corp. 0.02% 143,000 $839K New
VYNE THERAPEUTICS INC 0.02% 245,800 $823K New
ONON On Holding AG Class A filed as ON HLDG AG 0.02% 15,000 $822K New
ZM Zoom Communications Inc. 0.02% 10,000 $816K New
KROS Keros Therapeutics Inc. 0.02% 50,897 $806K Add +105.6%
MGNI Magnite Inc. 0.02% 50,000 $796K New
TERN Terns Pharmaceuticals Inc. 0.02% 140,300 $777K Add +192.3%
NGNE Neurogene Inc. 0.02% 32,734 $748K Add +270.8%
BSX Boston Scientific Corp. 0.02% 8,334 $744K Add +22.1%
LRMR Larimar Therapeutics Inc. 0.02% 188,543 $730K Reduce -7.0%
EW Edwards Lifesciences Corp. 0.02% 9,760 $723K Add +39.4%
SPKLF Spark I Acquisition Corp. 0.02% 66,832 $711K No change
CNTB Connect Biopharma Hldgs Ltd. 0.02% 510,701 $705K No change
CGEM Cullinan Therapeutics Inc. 0.02% 56,095 $683K Add +22.0%
SLRN Acelyrin Inc. 0.02% 211,938 $665K Add +29.4%
ABNB Airbnb Inc. Class A 0.02% 5,000 $657K New
DAWN Day One Biopharmaceuticals I 0.02% 50,020 $634K New
ACRV Acrivon Therapeutics Inc. 0.02% 102,784 $619K Add +29.7%
MRUS Merus NV 0.02% 14,540 $611K Add +46.5%
PRQR Proqr Therapeutics NV 0.02% 227,020 $602K New
MERSANA THERAPEUTICS INC 0.02% 410,029 $586K Reduce -28.1%
ADSK Autodesk Inc. 0.02% 1,983 $586K Reduce -60.3%
ERAS Erasca Inc. 0.01% 229,600 $576K Add +228.0%
NARI Inari Medical Inc. 0.01% 11,102 $567K Reduce -26.5%
INZY Inozyme Pharma Inc. 0.01% 201,232 $557K Reduce -11.1%
STRO Sutro Biopharma Inc. Com SHS 0.01% 300,621 $553K Reduce -11.1%
THRD Third Harmonic Bio Inc. 0.01% 53,740 $553K Add +2.8%
MRVL Marvell Technology Inc. 0.01% 5,000 $552K Reduce -50.0%
VTYX Ventyx Biosciences Inc. 0.01% 244,000 $534K Add +22.0%
GPCR Structure Therapeutics Inc. 0.01% 19,520 $529K Add +8.4%
TM Toyota Motor Corp. -Spon ADR 0.01% 2,700 $525K New
ASAN Asana Inc. Class A 0.01% 25,000 $507K No change
ESTC Elastic NV 0.01% 5,000 $495K New
CCCC C4 Therapeutics Inc. 0.01% 137,360 $494K Add +497.2%
WVE Wave Life Sciences Ltd. 0.01% 39,767 $492K New
ISRG Intuitive Surgical Inc. 0.01% 935 $488K New
VERA Vera Therapeutics Inc. 0.01% 11,531 $488K Reduce -63.3%
TXN Texas Instruments Inc. 0.01% 2,500 $469K Add +100.0%
NOW ServiceNow Inc. 0.01% 438 $464K New
DELL Dell Technologies -C 0.01% 4,000 $461K New
DNLI Denali Therapeutics Inc. 0.01% 21,039 $429K Reduce -31.6%
INO Inovio Pharmaceuticals Inc. 0.01% 225,000 $412K New
PD Pagerduty Inc. 0.01% 22,500 $411K New
BOLD Boundless Bio Inc. 0.01% 140,000 $406K Add +163.3%
CATX Perspective Therapeutics Inc. 0.01% 123,243 $393K Add +73.8%
CRGX Cargo Therapeutics Inc. 0.01% 26,899 $388K Add +22.0%
ARGX Argenx SE - ADR 0.01% 610 $375K Reduce -69.5%
CGON CG Oncology Inc. 0.01% 12,834 $368K Add +16.4%
SLNO Soleno Therapeutics Inc. 0.01% 7,977 $359K Reduce -48.6%
MLYS Mineralys Therapeutics Inc. 0.01% 28,068 $346K Reduce -9.7%
CNTX Context Therapeutics Inc. 0.01% 308,758 $324K No change
SMCI Super Micro Computer Inc. 0.01% 10,000 $305K New
AMC AMC Entertainment HLDS Class A 0.01% 75,994 $302K Reduce -1.3%
CYPH Cypherpunk Technologies Inc. filed as LEAP THERAPEUTICS INC 0.01% 105,108 $302K Reduce -36.3%
DYN Dyne Therapeutics Inc. 0.01% 12,584 $296K Reduce -34.9%
ALKS Alkermes PLC 0.01% 9,710 $279K Reduce -80.6%
SEPN Septerna Inc. 0.01% 12,118 $278K New
PANW Palo Alto Networks Inc. 0.01% 1,412 $257K New
ARDX Ardelyx Inc. 0.01% 49,701 $252K Reduce -18.2%
HAPN Happen Inc. filed as LENDINGCLUB CORP 0.01% 15,000 $243K New
FTNT Fortinet Inc. 0.01% 2,537 $240K New
NERV Minerva Neurosciences Inc. 0.01% 107,256 $238K No change
INTU Intuit Inc. 0.01% 377 $237K New
SCYX Scynexis Inc. 0.01% 195,393 $236K Add +22.0%
ZTO Zto Express Cayman Inc.-ADR 0.01% 11,800 $231K New
PYXS Pyxis Oncology Inc. 0.01% 146,400 $228K New
BDTX Black Diamond Therapeutics I 0.01% 104,560 $224K Add +15.3%
VERU Veru Inc. 0.01% 329,861 $215K No change
CRVS Corvus Pharmaceuticals Inc. 0.01% 40,000 $214K New
IMUX Immunic Inc. 0.01% 204,579 $205K Add +90.0%
ZURA Zura Bio Ltd. 0.01% 80,912 $202K No change
TSLA Tesla Inc. 0.01% 500 $202K New
ALT Altimmune Inc. 0.01% 26,899 $194K Add +22.0%
SVRA Savara Inc. 0.00% 48,482 $149K Add +26.0%
HLVX Hillevax Inc. 0.00% 51,779 $107K No change
GTM Zoominfo Technologies Inc. 0.00% 10,000 $105K No change
ALEC Alector Inc. 0.00% 50,000 $95K New
RAPT THERAPEUTICS INC 0.00% 40,000 $63K New
DTIL Precision Biosciences Inc. 0.00% 15,534 $59K Add +22.0%
AGEN Agenus Inc. 0.00% 12,888 $35K Reduce -43.7%

Options reported separately and not counted above: HTZ puts ($2.1M), LCID puts ($2.0M), AAL puts ($1.7M), COTY puts ($1.6M), HOG puts ($805K), RIG puts ($757K), XRX puts ($561K), VSAT puts ($553K), MGM puts ($524K), HLF puts ($499K), CPRI puts ($494K), F puts ($450K), and 69 more.

Other holdings (26): bonds, preferreds, convertibles and warrants · $109.8M (not counted above)
SecurityClassShares / PrincipalValueChange
REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) NOTE 1.750% 2/1 · principal 40,000,000$38.3MNo change
PELOTON INTERACTIVE INC (PTON 0 02/15/26) NOTE 2/1 · principal 27,352,000$25.5MNo change
FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal 23,500,000$18.4MNo change
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal 10,000,000$10.7MNo change
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 300,000$8.3MNo change
BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal 29,000,000$4.8MReduce -27.5%
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) NOTE 3/1 · principal 2,000,000$1.8MNo change
INFINERA CORP (INFN 3.75 08/01/28) NOTE 3.750% 8/0 · principal 1,250,000$1.5MNo change
Colombier Acquisition - 29 *W EXP 11/24/202 100,000$149KReduce -22.6%
EVLVW Evolv Technologies -CW26 *W EXP 07/16/202 463,341$148KNo change
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 114,255$69KNo change
XAGEW Alpha Healthcare Acquis-CW27 *W EXP 07/12/202 371,250$21KNo change
FASWF Stonebridge Acquisition-CW23 *W EXP 04/02/202 135,667$16KNo change
KDKRW Ares Acquisition Corp. II-28 *W EXP 99/99/999 82,711$12KNo change
RDZNW Vahanna Tech Edge -CW24 *W EXP 11/30/202 65,696$11KNo change
TVGNW Semper Paratus Acqu -CW26 *W EXP 02/14/202 181,387$11KNo change
REEWF Cartesian Growth Corp. II -28 *W EXP 07/12/202 118,982$10KNo change
BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 150,251$9KNo change
CSLWF Consilium Acquisition -27 *W EXP 99/99/999 67,295$6KNo change
MSAIW Sportsmap Tech Acq -CW27 *W EXP 12/19/202 142,585$6KNo change
RMCOW American Acq Class A -CW26 *W EXP 10/31/202 221,686$6KNo change
BRLSW Oxus Acquisition Corp. -CW23 *W EXP 02/07/202 70,030$5KNo change
BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 110,914$5KNo change
IVAWF Investcorp India Acquisi -27 *W EXP 06/01/202 209,630$4KNo change
OPTXW Omnilit Acquisition Class A -23 *W EXP 99/99/999 32,034$4KNo change
WINVW Winvest Acquisition -CW23 *W EXP 08/09/202 17,995$299No change

Total filed on the 13F, all lines: $4.0B.

Portfolio Sells Q3 2024 → Q4 2024
CTLT Catalent Inc. Sold out 0.00% −6.00
MRO Marathon Oil Corp. Sold out 0.00% −5.70
SRCL Stericycle Inc. Sold out 0.00% −4.43
AXONICS INC Sold out 0.00% −3.84
PRFT Perficient Inc. Sold out 0.00% −2.05
X United States Steel Corp. Reduce -55.0% 1.20% −1.58
ACI Albertsons Cos Inc. Class A Sold out 0.00% −1.42
RYAAY Ryanair Holdings PLC-SP ADR Sold out 0.00% −0.56
HES Hess Corp. Reduce -3.1% 9.83% −0.53
TECK Teck Resources Ltd.-CLS B Sold out 0.00% −0.45
CEG Constellation Energy Sold out 0.00% −0.38
MMM 3M Co. Reduce -63.1% 0.19% −0.35
ANSS Ansys Inc. Reduce -16.9% 2.55% −0.35
RCM R1 RCM Inc. Sold out 0.00% −0.32
PEG Public Service Enterprise GP Sold out 0.00% −0.31
PDD PDD Holdings Inc. Sold out 0.00% −0.27
ST Sensata Technologies Holdplc Sold out 0.00% −0.26
CCJ Cameco Corp. Sold out 0.00% −0.26
JBHT Hunt (jb) Transprt SVCS Inc. Sold out 0.00% −0.25
NUE Nucor Corp. Sold out 0.00% −0.24
UAL United Airlines Holdings Inc. Sold out 0.00% −0.20
NXPI NXP Semiconductors NV Sold out 0.00% −0.20
ELS Equity Lifestyle Properties Sold out 0.00% −0.20
JD Jd.com Inc.-ADR Reduce -61.5% 0.10% −0.19
PNR Pentair PLC Sold out 0.00% −0.18
EGP Eastgroup Properties Inc. Sold out 0.00% −0.18
VST Vistra Corp. Reduce -68.5% 0.10% −0.18
WH Wyndham Hotels & Resorts Inc. Sold out 0.00% −0.18
EQT Eqt Corp. Sold out 0.00% −0.18
SBRA Sabra Health Care REIT Inc. Sold out 0.00% −0.17
INVH Invitation Homes Inc. Sold out 0.00% −0.16
APTV Aptiv Irish Holdings Ltd. Sold out 0.00% −0.16
BRX Brixmor Property Group Inc. Sold out 0.00% −0.16
CPRI Capri Holdings Ltd. Sold out 0.00% −0.16
AMH American Homes 4 Rent- A Sold out 0.00% −0.15
FBIN Fortune Brands Innovations I Sold out 0.00% −0.15
EQIX Equinix Inc. Sold out 0.00% −0.15
RHP Ryman Hospitality Properties Sold out 0.00% −0.15
CDP Copt Defense Properties Sold out 0.00% −0.15
ECL Ecolab Inc. Sold out 0.00% −0.15
NPAB New Providence Acquisition-A Sold out 0.00% −0.15
AVGO Broadcom Inc. Reduce -56.4% 0.21% −0.15
NVR NVR Inc. Sold out 0.00% −0.14
OKTA Okta Inc. Sold out 0.00% −0.14
PAAS Pan American Silver Corp. Sold out 0.00% −0.13
FR First Industrial Realty TR Sold out 0.00% −0.13
FCX Freeport-McMoran Inc. Sold out 0.00% −0.13
MTH Meritage Homes Corp. Sold out 0.00% −0.12
SHO Sunstone Hotel Investors Inc. Sold out 0.00% −0.12
WCN Waste Connections Inc. Sold out 0.00% −0.11

Portfolio Buys Q3 2024 → Q4 2024
DFS Discover Financial Services New 5.19% +5.19
SMAR Smartsheet Inc. Class A Add +670.8% 5.55% +4.83
FYBR Frontier Communications Pare Add +589.4% 3.69% +3.14
SUM Summit Materials Inc. Class A New 2.64% +2.64
ALTR Altair Engineering Inc. Class A New 2.52% +2.52
JNPR Juniper Networks Inc. Add +40.9% 7.89% +2.06
BERY Berry Global Group Inc. New 1.44% +1.44
AMED Amedisys Inc. Add +107.0% 2.41% +1.17
CRH CRH PLC New 0.67% +0.67
CHX Championx Corp. Add +25.8% 5.39% +0.63
ARCH Arch Resources Inc. Add +1181.5% 0.65% +0.60
ZUO Zuora Inc. Class A New 0.58% +0.58
ALTM Arcadium Lithium PLC New 0.58% +0.58
ML Moneylion Inc. New 0.54% +0.54
NRG NRG Energy Inc. New 0.49% +0.49
XPEV Xpeng Inc. - ADR Add +947.5% 0.53% +0.48
ESGR Enstar Group Ltd. New 0.48% +0.48
BABA Alibaba Group Holding-SP ADR Add +7756.4% 0.43% +0.42
XEL Xcel Energy Inc. New 0.41% +0.41
NI Nisource Inc. New 0.41% +0.41
RSG Republic Services Inc. New 0.41% +0.41
TEL Te Connectivity PLC New 0.37% +0.37
TCOM Trip.com Group Ltd.-ADR New 0.33% +0.33
CARR Carrier Global Corp. New 0.33% +0.33
ALV Autoliv Inc. Add +425.9% 0.39% +0.32
LIN Linde PLC New 0.31% +0.31
CNI Canadian Natl Railway Co. New 0.30% +0.30
NVDA Nvidia Corp. Add +73.1% 0.62% +0.29
MELI MercadoLibre Inc. Add +135.4% 0.56% +0.27
DOW Dow Inc. New 0.27% +0.27
FLUT Flutter Entertainment PLC-Di Add +126.7% 0.45% +0.27
SPR Spirit Aerosystems Hold Class A Add +6.2% 2.58% +0.26
CRM Salesforce Inc. Add +577.9% 0.29% +0.26
SHW The Sherwin-Williams Co. New 0.24% +0.24
TOST Toast Inc. Class A New 0.23% +0.23
LI Li Auto Inc. - ADR New 0.23% +0.23
FTAI Ftai Aviation Ltd. New 0.23% +0.23
HON Honeywell International Inc. New 0.19% +0.19
FLS Flowserve Corp. New 0.19% +0.19
CMC Commercial Metals Co. New 0.18% +0.18
CCK Crown Holdings Inc. Add +91.2% 0.45% +0.18
ROK Rockwell Automation Inc. New 0.18% +0.18
LHX L3HARRIS Technologies Inc. Add +105.5% 0.39% +0.17
SO The Southern Co. Add +91.4% 0.37% +0.16
BA The Boeing Co. New 0.15% +0.15
APH Amphenol Corp. Class A New 0.14% +0.14
HUBB Hubbell Inc. Add +56.1% 0.41% +0.14
VFC VF Corp. Add +333.3% 0.18% +0.14
WDAY Workday Inc. Class A New 0.14% +0.14
MSFT Microsoft Corp. Add +105.0% 0.27% +0.13

Options Activity Q3 2024 → Q4 2024
AAL American Airlines Group Inc. put Add +8.9% 10,645,000 $1.7M
RIG Transocean Ltd. put Add +99.2% 803,400 $757K
NFE New Fortress Energy Inc. put Sold out 51,100 $659Kbefore exit
F Ford Motor Co. put Reduce -8.8% 520,900 $450K
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 1,550,000 $438K
NBR Nabors Industries Ltd. put Sold out 19,100 $226Kbefore exit
IWM iShares Russell 2000 ETF put New 36,000 $216K
SRRK Scholar Rock Holding Corp. call New 40,000 $203K
PTGX Protagonist Therapeutics Inc. call Sold out 40,000 $164Kbefore exit
TSLA Tesla Inc. put Reduce -79.0% 10,500 $132K
CAR Avis Budget Group Inc. call Sold out 15,000 $128Kbefore exit
RSP Invesco S&P 500 Equal Weight put New 50,000 $125K
RSP Invesco S&P 500 Equal Weight call New 45,000 $114K
DXCM Dexcom Inc. call New 20,000 $108K
XBI SS SPDR S&P Biotech ETF put Reduce -28.6% 50,000 $101K
NKE Nike Inc. Class B put New 68,000 $84K
LEGN Legend Biotech Corp.-ADR put New 20,000 $81K
IRTC Irhythm Holdings Inc. put Sold out 25,000 $72Kbefore exit
SPY SS SPDR S&P 500 ETF Trust-US put Add +13.0% 130,000 $67K
SYRS Syros Pharmaceuticals Inc. call Sold out 113,000 $65Kbefore exit
THO Thor Industries Inc. put Sold out 100,000 $63Kbefore exit
PRAX Praxis Precision Medicines I put Sold out 25,000 $61Kbefore exit
COO The Cooper Cos Inc. put New 12,000 $56K
XBI SS SPDR S&P Biotech ETF call Reduce -33.3% 90,000 $56K
IWM iShares Russell 2000 ETF call Reduce -71.9% 45,000 $55K
TGTX TG Therapeutics Inc. call Add +100.0% 40,000 $55K
CAPR Capricor Therapeutics Inc. call New 30,000 $54K
CCL Carnival Corp. put Reduce -43.9% 500,000 $51K
INSM Insmed Inc. call Sold out 18,000 $50Kbefore exit
DYN Dyne Therapeutics Inc. call New 20,000 $49K
IRTC Irhythm Holdings Inc. call New 15,000 $45K
SRPT Sarepta Therapeutics Inc. put Sold out 10,000 $44Kbefore exit
IMCR Immunocore Holdings PLC-ADR call New 17,500 $43K
PRAX Praxis Precision Medicines I call Reduce -23.1% 10,000 $42K
KRE SS SPDR S&P Regional Bank call Sold out 25,000 $40Kbefore exit
AGIO Agios Pharmaceuticals Inc. call Sold out 20,000 $38Kbefore exit
XLV SS Health Care Select Sector call New 60,000 $38K
VERA Vera Therapeutics Inc. call New 15,000 $36K
UBER Uber Technologies Inc. put Sold out 19,000 $32Kbefore exit
QURE Uniqure NV call New 115,000 $32K
MRNA Moderna Inc. call Sold out 15,000 $31Kbefore exit
KPTI Karyopharm Therapeutics Inc. call New 400,000 $30K
RGNX Regenxbio Inc. call New 80,000 $30K
ARKG ARK Genomic Revolution ETF call Sold out 70,000 $30Kbefore exit
CYH Community Health Systems Inc. call New 270,000 $27K
RYTM Rhythm Pharmaceuticals Inc. call Sold out 20,000 $26Kbefore exit
MDT Medtronic PLC call Sold out 25,000 $26Kbefore exit
SNDX Syndax Pharmaceuticals Inc. put New 100,000 $25K
PCVX Vaxcyte Inc. put Sold out 10,000 $25Kbefore exit
BAX Baxter International Inc. call New 50,000 $24K

Showing the first 50 of 94.

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2024 → Q4 2024
SPIRIT AIRLINES INC (SAVE 1 05/15/26) NOTE 1.000% 5/1 · principal Sold out 77,636,000 $23.8Mbefore exit
BANDWIDTH INC (BAND 0.5 04/01/28) NOTE 0.500% 4/0 · principal Sold out 10,000,000 $7.8Mbefore exit
BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal Reduce -27.5% 29,000,000 $4.8M
Colombier Acquisition - 29 *W EXP 11/24/202 Reduce -22.6% 100,000 $149K
USARW Inflection Point Acquis-C-28 *W EXP 08/31/202 Sold out 100,248 $23Kbefore exit
SBXC.WS Silverbox Corp. III-28 *W EXP 02/28/202 Sold out 88,226 $10Kbefore exit
PLAOW Patria Latin American-CW27 *W EXP 99/99/999 Sold out 174,189 $7Kbefore exit
APXIW Apx Acquisition Corp. I -23 *W EXP 99/99/999 Sold out 89,465 $6Kbefore exit
JWSWF Jaws Mustang Acq C -CW26 *W EXP 01/30/202 Sold out 168,845 $5Kbefore exit
SEDA.WS SDCL Edge Acq Class A -CW28 *W EXP 99/99/999 Sold out 47,479 $5Kbefore exit
FNVWF Finnovate Acquisition -CW23 *W EXP 09/30/202 Sold out 127,590 $2Kbefore exit
EVCOW Everest Consolidator Acquisi *W EXP 99/99/999 Sold out 76,252 $2Kbefore exit
MCAAW Mountain & Co. I Acq -CW23 *W EXP 09/30/202 Sold out 133,215 $2Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q4 2025Amended 175$3.6BCYBR, GTLS, CMA, DAY, RNAM
Q3 2025Amended 189$3.1BCYBR, VRNA, K, GTLS, FYBR
Q2 2025Amended 262$3.5BK, WBA, SKX, BPMC, FYBR
Q1 2025Amended 239$4.1BHES, DFS, ITCI, K, CHX
Q4 2024Amended 312$3.9BHES, JNPR, K, HCP, SMAR
Q3 2024Amended 367$3.9BHES, K, CTLT, HCP, JNPR
Q2 2024Amended 385$3.3BHES, JNPR, HCP, CTLT, ETRN
Q1 2024Amended 370$3.2BPXD, HES, JNPR, X, CERE