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

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) reported 239 stock positions worth $4.1 billion. Its top holding was Hess (HES) at 11.3% of the portfolio, followed by Discover Financial Services (DFS, 9.9%) and Intra-Cellular Therapies (ITCI, 9.9%). Compared with Q4 2024, it opened 60 new positions, sold out of 133, added to 68 and reduced 84. The biggest buy was Intra-Cellular Therapies (ITCI, shares +15139%) and the biggest sale an exit from Hashicorp Class A (HCP).

Most Recent 13F
Q4 2025
Location
CHICAGO, IL
CIK
0001132716
Portfolio Value
$4.1B (Q1 2025)
SEC Filing
0001132716-25-000010 ↗ filed May 15, 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 Q4 2024 Q1 2025: $4.1B $4.1B Q1 2025 Q2 2025: $3.5B Q2 2025 Q3 2025: $3.1B Q3 2025 Q4 2025: $3.6B Q4 2025

Holdings 239 stocks · $4.1B
HES Hess Corp. 11.30% 2,911,523 $465.1M Add +1.1%
DFS Discover Financial Services 9.91% 2,389,191 $407.8M Add +104.8%
ITCI Intra-Cellular Therapies Inc. 9.91% 3,091,133 $407.8M Add +15139.3%
K Kellanova 9.88% 4,931,978 $406.8M Add +30.9%
CHX Championx Corp. 5.66% 7,818,643 $233.0M Add +1.3%
JNPR Juniper Networks Inc. 5.49% 6,250,113 $226.2M Reduce -23.8%
BECN Beacon Roofing Supply Inc. 4.73% 1,575,016 $194.8M New
FYBR Frontier Communications Pare 4.58% 5,253,285 $188.4M Add +27.0%
ANSS Ansys Inc. 3.85% 500,433 $158.4M Add +70.2%
BERY Berry Global Group Inc. 3.32% 1,955,816 $136.5M Add +126.3%
WBA Walgreens Boots Alliance Inc. 2.74% 10,112,229 $113.0M New
SPR Spirit Aerosystems Hold Class A 2.50% 2,986,986 $102.9M Add +1.2%
HEES H&E Equipment Services Inc. 2.50% 1,085,190 $102.9M New
JWN Nordstrom Inc. 2.35% 3,950,000 $96.6M New
AMED Amedisys Inc. 1.84% 818,091 $75.8M Reduce -20.9%
X United States Steel Corp. 1.29% 1,253,217 $53.0M Reduce -8.9%
ML Moneylion Inc. 0.92% 436,111 $37.7M Add +78.4%
OXY Occidental Petroleum Corp. 0.56% 466,400 $23.0M Add +180.3%
ESGR Enstar Group Ltd. 0.54% 66,879 $22.2M Add +15.5%
RSG Republic Services Inc. 0.52% 88,200 $21.4M Add +11.9%
SO The Southern Co. 0.47% 209,700 $19.3M Add +20.8%
MAT Mattel Inc. 0.46% 969,029 $18.8M No change
NVDA Nvidia Corp. 0.36% 137,635 $14.9M Reduce -22.9%
CNI Canadian Natl Railway Co. 0.32% 133,975 $13.1M Add +16.7%
XEL Xcel Energy Inc. 0.31% 182,510 $12.9M Reduce -23.2%
LIN Linde PLC 0.30% 26,670 $12.4M Reduce -6.8%
ETR Entergy Corp. 0.30% 143,600 $12.3M New
CCRN Cross Country Healthcare Inc. 0.29% 804,764 $12.0M New
NSC Norfolk Southern Corp. 0.28% 48,113 $11.4M Reduce -6.9%
LX Lexinfintech Holdings L-ADR 0.27% 1,111,750 $11.2M Add +161.5%
NI Nisource Inc. 0.27% 277,340 $11.1M Reduce -36.1%
GPK Graphic Packaging Holding Co. 0.26% 411,200 $10.7M Add +181.1%
APD Air Products & Chemicals Inc. 0.25% 34,995 $10.3M Add +156.2%
GTES Gates Industrial Corp. UK Ltd. 0.25% 548,435 $10.1M Add +267.9%
IP International Paper Co. 0.24% 188,700 $10.1M New
CRH CRH PLC 0.24% 113,520 $10.0M Reduce -59.7%
ITUB Itau Unibanco H-Spon PRF ADR 0.24% 1,789,588 $9.8M Reduce -31.5%
EMBJ Embraer SA-Spon ADR 0.23% 205,445 $9.5M Add +89.3%
AMZN Amazon.com Inc. 0.22% 48,335 $9.2M Add +53.3%
UPS United Parcel Service Class B 0.22% 81,000 $8.9M New
MELI MercadoLibre Inc. 0.21% 4,480 $8.7M Reduce -65.2%
VMC Vulcan Materials Co. 0.21% 36,900 $8.6M New
PNR Pentair PLC 0.20% 92,600 $8.1M New
SARO Standardaero Inc. 0.19% 300,000 $8.0M New
SHW The Sherwin-Williams Co. 0.19% 22,870 $8.0M Reduce -17.4%
APH Amphenol Corp. Class A 0.19% 119,940 $7.9M Add +48.3%
CACI Caci International Inc. Class A 0.19% 20,950 $7.7M New
EQC Equity Commonwealth 0.16% 4,099,688 $6.6M Add +1.2%
FTV Fortive Corp. 0.14% 81,300 $5.9M Reduce -9.0%
BA The Boeing Co. 0.14% 34,000 $5.8M Add +0.9%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.14% 62,020 $5.8M Reduce -33.6%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 0.14% 54,922 $5.6M New
NRG NRG Energy Inc. 0.14% 58,566 $5.6M Reduce -72.0%
BTG B2GOLD Corp. 0.13% 1,922,600 $5.5M Add +73.5%
BDX Becton Dickinson and Co. 0.13% 23,088 $5.3M Add +12.1%
MA Mastercard Inc. Class A 0.12% 9,300 $5.1M New
PDD PDD Holdings Inc. 0.12% 42,300 $5.0M New
HON Honeywell International Inc. 0.12% 23,250 $4.9M Reduce -30.6%
DAL Delta Air Lines Inc. 0.12% 111,114 $4.8M Reduce -45.5%
VCIC Vine Hill Capital Class A 0.12% 475,000 $4.8M No change
INTR Inter & Co. Inc. Class A 0.12% 869,275 $4.8M Add +4.2%
ARCO Arcos Dorados Holdings Inc. Class A 0.12% 590,357 $4.8M Add +13.6%
BABA Alibaba Group Holding-SP ADR 0.11% 35,447 $4.7M Reduce -82.0%
OACC Oaktree Acquisition Corp. I-A 0.11% 450,000 $4.6M No change
RENEF Cartesian Growth Corp. II- A 0.10% 356,946 $4.2M No change
CCIXU Churchill Capital Corp. Ix 0.10% 387,480 $4.2M No change
BEAGU Bold Eagle Acquisition Corp. 0.10% 400,000 $4.1M No change
KMI Kinder Morgan Inc. 0.10% 144,600 $4.1M New
STLD Steel Dynamics Inc. 0.10% 32,450 $4.1M New
LHX L3HARRIS Technologies Inc. 0.10% 19,020 $4.0M Reduce -73.3%
PH Parker Hannifin Corp. 0.10% 6,480 $3.9M Reduce -78.7%
CMC Commercial Metals Co. 0.10% 85,020 $3.9M Reduce -41.5%
AMX America Movil Sab DE CV 0.09% 253,922 $3.6M Add +22.8%
GLOB Globant SA 0.09% 30,345 $3.6M Add +23.1%
ANSC Agriculture & Natural Soluti 0.09% 334,160 $3.6M No change
NCLH Norwegian Cruise Line Holdin 0.08% 178,031 $3.4M No change
CYH Community Health Systems Inc. 0.08% 1,250,000 $3.4M No change
YMM Full Truck Alliance -SPN ADR 0.08% 257,750 $3.3M New
VALE Vale SA-SP ADR 0.08% 327,259 $3.3M Add +74.7%
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 0.08% 1,200,000 $3.2M Add +20.0%
RARE Ultragenyx Pharmaceutical Inc. 0.08% 87,811 $3.2M Add +294.1%
VSTM Verastem Inc. 0.08% 521,960 $3.1M Reduce -14.2%
KNSA Kiniksa Pharmaceuticals Inte 0.08% 139,275 $3.1M Add +39.8%
LOKVU Live Oak Acquisition Corp. V 0.07% 300,000 $3.0M New
HUBB Hubbell Inc. 0.07% 9,000 $3.0M Reduce -76.4%
SN Sharkninja Inc. 0.07% 35,000 $2.9M Add +75.0%
AXTA Axalta Coating Systems Ltd. 0.07% 85,250 $2.8M No change
AVGO Broadcom Inc. 0.07% 16,576 $2.8M Reduce -52.2%
BZ Kanzhun Ltd. - ADR 0.07% 143,000 $2.7M New
IONS Ionis Pharmaceuticals Inc. 0.07% 90,779 $2.7M Add +49.9%
APTV Aptiv PLC 0.07% 46,000 $2.7M New
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 0.06% 500,000 $2.7M Add +42.9%
WMT Walmart Inc. 0.06% 30,000 $2.6M Add +20.0%
BSAC Banco Santander-Chile-ADR 0.06% 115,443 $2.6M Reduce -30.9%
EWZ iShares MSCI Brazil ETF 0.06% 100,000 $2.6M New
MLACU Mountain Lake Acquisition Co. 0.06% 250,000 $2.6M No change
NETD Nabors Energy Transition C-A 0.06% 233,912 $2.6M No change
INCY Incyte Corp. 0.06% 40,903 $2.5M Add +93.0%
SBXDF Silverbox Corp. IV-A 0.06% 242,175 $2.5M No change
POOL Pool Corp. 0.06% 7,724 $2.5M New
LPLA LPL Financial Holdings Inc. 0.06% 7,500 $2.5M New
FTW Eqv Ventures Acquisition C-A 0.06% 242,175 $2.5M No change
DXCM Dexcom Inc. 0.06% 35,851 $2.4M Add +33.3%
ACEL Accel Entertainment Inc. 0.06% 246,728 $2.4M No change
REPL Replimune Group Inc. 0.06% 250,420 $2.4M Add +3.7%
CRM Salesforce Inc. 0.06% 8,896 $2.4M Reduce -73.8%
ALDFU Aldel Financial II Inc. 0.06% 225,000 $2.3M No change
NHICU Newhold Investment Corp. III 0.06% 225,000 $2.3M New
XYF X Financial-ADR filed as X FINL 0.05% 156,714 $2.3M New
TW Tradeweb Markets Inc. Class A 0.05% 15,000 $2.2M New
AAPL Apple Inc. 0.05% 10,000 $2.2M Reduce -60.3%
ONON On Holding AG Class A filed as ON HLDG AG 0.05% 50,000 $2.2M Add +233.3%
AS Amer Sports Inc. 0.05% 80,000 $2.1M Reduce -46.0%
LEGT Legato Merger Corp. III 0.05% 193,740 $2.0M No change
RIGL Rigel Pharmaceuticals Inc. 0.05% 110,384 $2.0M Add +30.9%
ATEC Alphatec Holdings Inc. 0.05% 194,237 $2.0M Reduce -1.9%
KALV Kalvista Pharmaceuticals Inc. 0.05% 169,692 $2.0M Reduce -1.7%
INSM Insmed Inc. 0.05% 25,427 $1.9M Reduce -4.5%
GM General Motors Co. 0.05% 40,300 $1.9M New
OCUL Ocular Therapeutix Inc. 0.05% 258,363 $1.9M Reduce -4.5%
COO The Cooper Cos Inc. 0.05% 22,278 $1.9M Add +120.3%
ADT Adt Inc. 0.05% 229,607 $1.9M No change
BAX Baxter International Inc. 0.04% 54,155 $1.9M Add +61.2%
KIDS Orthopediatrics Corp. 0.04% 74,862 $1.8M Add +14.7%
GOOGL Alphabet Inc. Class A 0.04% 11,900 $1.8M New
MSFT Microsoft Corp. 0.04% 4,794 $1.8M Reduce -80.7%
AGIO Agios Pharmaceuticals Inc. 0.04% 58,722 $1.7M Add +35.5%
SWTX Springworks Therapeutics Inc. 0.04% 38,968 $1.7M Reduce -6.1%
PRCT Procept Biorobotics Corp. 0.04% 28,000 $1.6M New
AXGN Axogen Inc. 0.04% 87,428 $1.6M Reduce -37.7%
COLOMBIER ACQUISITION CORP 0.04% 150,000 $1.6M Reduce -21.8%
TEVA Teva Pharmaceutical-SP ADR 0.04% 100,788 $1.5M Reduce -27.0%
BAP Credicorp Ltd. 0.04% 8,311 $1.5M No change
POLE Andretti Acquisition Corp. Class A 0.04% 150,000 $1.5M No change
RZLT Rezolute Inc. 0.04% 502,908 $1.5M Reduce -4.4%
OFIX Orthofix Medical Inc. 0.04% 89,059 $1.5M Reduce -8.6%
VRDN Viridian Therapeutics Inc. 0.04% 107,088 $1.4M Add +140.1%
ALGN Align Technology Inc. 0.03% 9,050 $1.4M Add +24.8%
IRTC Irhythm Holdings Inc. 0.03% 13,506 $1.4M Reduce -29.6%
GMAB Genmab A/S -SP ADR 0.03% 71,877 $1.4M New
ADPT Adaptive Biotechnologies 0.03% 187,789 $1.4M Reduce -12.2%
ARES ACQUISITION CORP II 0.03% 125,000 $1.4M Reduce -24.4%
CRNX Crinetics Pharmaceuticals Inc. 0.03% 40,613 $1.4M Add +46.7%
PVLA Palvella Therapeutics Inc. 0.03% 48,664 $1.4M New
EVLV Evolv Technologies Holdings 0.03% 430,223 $1.3M No change
IMCR Immunocore Holdings PLC-ADR 0.03% 45,196 $1.3M Reduce -0.2%
DG Dollar General Corp. 0.03% 15,000 $1.3M New
BPMC Blueprint Medicines Corp. 0.03% 14,865 $1.3M Reduce -26.2%
INSP Inspire Medical Systems Inc. 0.03% 8,000 $1.3M New
BCYC Bicycle Therapeutics PLC-ADR 0.03% 148,722 $1.3M Add +85.4%
TMCI Treace Medical Concepts Inc. 0.03% 147,695 $1.2M Reduce -46.1%
QURE Uniqure NV 0.03% 114,889 $1.2M Reduce -40.2%
SLNO Soleno Therapeutics Inc. 0.03% 17,022 $1.2M Add +113.4%
IR Ingersoll-Rand Inc. 0.03% 15,000 $1.2M New
PTCT PTC Therapeutics Inc. 0.03% 23,353 $1.2M Reduce -50.2%
KROS Keros Therapeutics Inc. 0.03% 115,518 $1.2M Add +127.0%
SDGR Schrodinger Inc. 0.03% 59,043 $1.2M Add +25.9%
MLYS Mineralys Therapeutics Inc. 0.03% 73,348 $1.2M Add +161.3%
DADA Dada Nexus Ltd.-ADR 0.03% 618,986 $1.1M New
IDYA Ideaya Biosciences Inc. 0.03% 69,474 $1.1M Reduce -4.5%
ALCYF Alchemy Investments Acquisit 0.03% 100,248 $1.1M No change
DLTR Dollar Tree Inc. 0.03% 14,900 $1.1M New
HAYMAKER ACQUISITION CORP 4 0.03% 100,248 $1.1M No change
VRNA Verona Pharma Ltd. 0.03% 17,150 $1.1M New
TPR Tapestry Inc. 0.03% 15,000 $1.1M New
NUVB Nuvation Bio Inc. 0.03% 592,119 $1.0M New
GAP The Gap Inc. 0.03% 50,000 $1.0M New
MRUS Merus NV 0.02% 24,232 $1.0M Add +66.7%
MIRM Mirum Pharmaceuticals Inc. 0.02% 22,560 $1.0M Reduce -10.0%
KR Kroger Co. 0.02% 15,000 $1.0M New
PRAX Praxis Precision Medicines I 0.02% 26,793 $1.0M Add +1.1%
RCUS Arcus Biosciences Inc. 0.02% 128,688 $1.0M Add +67.9%
RLAY Relay Therapeutics Inc. 0.02% 382,900 $1.0M Add +15.8%
KALA Kala Bio Inc. 0.02% 170,917 $979K Reduce -4.5%
COST Costco Wholesale Corp. 0.02% 1,000 $946K New
TERN Terns Pharmaceuticals Inc. 0.02% 336,144 $928K Add +139.6%
ANNX Annexon Inc. 0.02% 466,819 $901K Add +46.4%
DAWN Day One Biopharmaceuticals I 0.02% 113,250 $898K Add +126.4%
SRRK Scholar Rock Holding Corp. 0.02% 27,617 $888K New
AURA Aura Biosciences Inc. 0.02% 151,108 $885K Add +10.7%
IQV Iqvia Holdings Inc. 0.02% 5,000 $882K New
BBIO Bridgebio Pharma Inc. 0.02% 25,492 $881K Reduce -58.3%
EWTX Edgewise Therapeutics Inc. 0.02% 40,014 $880K New
ANAB Anaptysbio Inc. 0.02% 47,051 $875K New
SKIL Skillsoft Corp. 0.02% 41,692 $802K No change
EW Edwards Lifesciences Corp. 0.02% 10,920 $791K Add +11.9%
UWMC Uwm Holdings Corp. 0.02% 143,000 $781K No change
NVNO Envveno Medical Corporation 0.02% 296,031 $779K No change
AKRO Akero Therapeutics Inc. 0.02% 18,800 $761K New
ALC Alcon Inc. filed as ALCON AG 0.02% 8,000 $759K Reduce -43.0%
SNDX Syndax Pharmaceuticals Inc. 0.02% 59,438 $730K Reduce -34.1%
SPKLF Spark I Acquisition Corp. 0.02% 66,832 $722K No change
IRON Disc Medicine Inc. 0.02% 13,621 $676K Reduce -4.5%
NGNE Neurogene Inc. 0.02% 56,015 $656K Add +71.1%
TSLA Tesla Inc. 0.02% 2,500 $648K Add +400.0%
PTGX Protagonist Therapeutics Inc. 0.02% 13,340 $645K New
AMD Advanced Micro Devices 0.01% 6,000 $616K New
OCFT Oneconnect Financial Techno 0.01% 83,257 $558K New
VERA Vera Therapeutics Inc. 0.01% 22,525 $541K Add +95.3%
ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD 0.01% 1,880 $512K Reduce -88.4%
TAL Tal Education Group- ADR 0.01% 37,000 $489K New
AZN Astrazeneca PLC-Spons ADR 0.01% 6,611 $486K Reduce -89.2%
ROIV Roivant Sciences Ltd. 0.01% 42,819 $432K Reduce -76.1%
WRD Weride Inc.-ADR 0.01% 31,350 $425K New
JANX Janux Therapeutics Inc. 0.01% 15,040 $406K New
MLCO Melco Resorts & Entert-ADR 0.01% 76,800 $405K New
LRMR Larimar Therapeutics Inc. 0.01% 180,027 $387K Reduce -4.5%
BMRN Biomarin Pharmaceutical Inc. 0.01% 5,258 $372K Reduce -80.4%
GRAB Grab Holdings Ltd. Class A 0.01% 70,291 $318K New
TRML Tourmaline Bio Inc. 0.01% 17,860 $272K New
ORIC Oric Pharmaceuticals Inc. 0.01% 47,642 $266K Reduce -72.8%
LION Lionsgate Studios Corp. 0.01% 35,000 $261K Reduce -73.2%
CGEM Cullinan Therapeutics Inc. 0.01% 32,903 $249K Reduce -41.3%
DYN Dyne Therapeutics Inc. 0.01% 21,422 $224K Add +70.2%
DRUG Bright Minds Biosciences Inc. 0.01% 5,963 $215K New
EH Ehang Holdings Ltd.-SPS ADR 0.01% 10,000 $209K New
ARQT Arcutis Biotherapeutics Inc. 0.01% 13,201 $206K Reduce -83.0%
CATX Perspective Therapeutics Inc. 0.01% 96,060 $205K Reduce -22.1%
ABBV Abbvie Inc. 0.01% 973 $204K Reduce -87.0%
SLN Silence Therapeutics PLC-ADR 0.00% 62,639 $177K Reduce -51.4%
CNTB Connect Biopharma Hldgs Ltd. 0.00% 268,946 $148K Reduce -47.3%
AMC AMC Entertainment HLDS Class A 0.00% 39,688 $114K Reduce -47.8%
ERAS Erasca Inc. 0.00% 75,627 $104K Reduce -67.1%
KPTI Karyopharm Therapeutics Inc. 0.00% 23,640 $88K Reduce -76.1%
VYNE THERAPEUTICS INC 0.00% 45,557 $72K Reduce -81.5%
CRVS Corvus Pharmaceuticals Inc. 0.00% 20,850 $66K Reduce -47.9%
CCCC C4 Therapeutics Inc. 0.00% 39,868 $64K Reduce -71.0%
XFOR X4 Pharmaceuticals Inc. 0.00% 252,602 $60K Reduce -80.0%
IFRX Inflarx NV 0.00% 58,073 $59K Reduce -90.7%
IMUX Immunic Inc. 0.00% 48,865 $53K Reduce -76.1%
VERU Veru Inc. 0.00% 101,018 $49K Reduce -69.4%
INO Inovio Pharmaceuticals Inc. 0.00% 29,375 $48K Reduce -86.9%
CNTX Context Therapeutics Inc. 0.00% 67,631 $41K Reduce -78.1%
PEPG Pepgen Inc. 0.00% 26,559 $37K New
MERSANA THERAPEUTICS INC 0.00% 97,731 $34K Reduce -76.2%
INZY Inozyme Pharma Inc. 0.00% 34,788 $32K Reduce -82.7%
ACRV Acrivon Therapeutics Inc. 0.00% 15,576 $32K Reduce -84.8%
STRO Sutro Biopharma Inc. Com SHS 0.00% 28,278 $18K Reduce -90.6%
NKTR Nektar Therapeutics 0.00% 19,923 $14K Reduce -98.7%

Options reported separately and not counted above: AAL puts ($6.1M), LCID puts ($3.2M), HTZ puts ($2.1M), TSLA puts ($1.8M), TLT calls ($1.7M), XRX puts ($1.2M), RIG puts ($927K), MGM puts ($752K), CHTR puts ($654K), HOG puts ($642K), PTON puts ($588K), CC puts ($546K), and 46 more.

Other holdings (25): bonds, preferreds, convertibles and warrants · $86.0M (not counted above)
SecurityClassShares / PrincipalValueChange
PELOTON INTERACTIVE INC (PTON 0 02/15/26) NOTE 2/1 · principal 27,352,000$25.8MNo change
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 15,000,000$19.3MNew
FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal 13,500,000$13.0MReduce -42.5%
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal 10,000,000$11.9MNo change
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 7,500,000$7.3MNew
BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal 29,000,000$3.3MNo change
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) NOTE 3/1 · principal 2,000,000$1.8MNo change
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 20,000$1.7MNew
INFINERA CORP (INFN 3.75 08/01/28) NOTE 3.750% 8/0 · principal 1,250,000$1.6MNo change
EVLVW Evolv Technologies -CW26 *W EXP 07/16/202 463,341$77KNo change
Colombier Acquisition - 29 *W EXP 11/24/202 90,000$69KReduce -10.0%
KDKRW Ares Acquisition Corp. II-28 *W EXP 99/99/999 82,711$24KNo change
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 60,000$13KReduce -47.5%
XAGEW Alpha Healthcare Acquis-CW27 *W EXP 07/12/202 371,250$13KNo change
TVGNW Semper Paratus Acqu -CW26 *W EXP 02/14/202 181,387$9KNo change
BRLSW Oxus Acquisition Corp. -CW23 *W EXP 02/07/202 70,030$8KNo change
MSAIW Sportsmap Tech Acq -CW27 *W EXP 12/19/202 142,585$8KNo change
REEWF Cartesian Growth Corp. II -28 *W EXP 07/12/202 118,982$7KNo change
RMCOW American Acq Class A -CW26 *W EXP 10/31/202 221,686$5KNo change
IVAWF Investcorp India Acquisi -27 *W EXP 06/01/202 209,630$5KNo change
FASWF Stonebridge Acquisition-CW23 *W EXP 04/02/202 135,667$4KNo change
BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 110,914$4KNo change
RDZNW Vahanna Tech Edge -CW24 *W EXP 11/30/202 65,696$4KNo change
BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 150,251$3KNo change
OPTXW Omnilit Acquisition Class A -23 *W EXP 99/99/999 32,034$2KNo change

Total filed on the 13F, all lines: $4.2B.

Portfolio Sells Q4 2024 → Q1 2025
HCP Hashicorp Inc. Class A Sold out 0.00% −6.03
SMAR Smartsheet Inc. Class A Sold out 0.00% −5.55
EDR Endeavor Group Hold Class A Sold out 0.00% −3.71
SUM Summit Materials Inc. Class A Sold out 0.00% −2.64
ALTR Altair Engineering Inc. Class A Sold out 0.00% −2.52
JNPR Juniper Networks Inc. Reduce -23.8% 5.49% −2.39
ARCH Arch Resources Inc. Sold out 0.00% −0.65
BALY Bally's Corp. Sold out 0.00% −0.62
ZUO Zuora Inc. Class A Sold out 0.00% −0.58
ALTM Arcadium Lithium PLC Sold out 0.00% −0.58
AMED Amedisys Inc. Reduce -20.9% 1.84% −0.57
XPEV Xpeng Inc. - ADR Sold out 0.00% −0.53
CCK Crown Holdings Inc. Sold out 0.00% −0.45
FLUT Flutter Entertainment PLC-Di Sold out 0.00% −0.45
CRH CRH PLC Reduce -59.7% 0.24% −0.43
PH Parker Hannifin Corp. Reduce -78.7% 0.10% −0.40
ALV Autoliv Inc. Sold out 0.00% −0.39
TEL Te Connectivity PLC Sold out 0.00% −0.37
MELI MercadoLibre Inc. Reduce -65.2% 0.21% −0.35
NRG NRG Energy Inc. Reduce -72.0% 0.14% −0.35
HUBB Hubbell Inc. Reduce -76.4% 0.07% −0.34
TCOM Trip.com Group Ltd.-ADR Sold out 0.00% −0.33
CARR Carrier Global Corp. Sold out 0.00% −0.33
BABA Alibaba Group Holding-SP ADR Reduce -82.0% 0.11% −0.31
LHX L3HARRIS Technologies Inc. Reduce -73.3% 0.10% −0.29
DOW Dow Inc. Sold out 0.00% −0.27
NVDA Nvidia Corp. Reduce -22.9% 0.36% −0.25
TOST Toast Inc. Class A Sold out 0.00% −0.23
CRM Salesforce Inc. Reduce -73.8% 0.06% −0.23
LI Li Auto Inc. - ADR Sold out 0.00% −0.23
FTAI Ftai Aviation Ltd. Sold out 0.00% −0.23
MSFT Microsoft Corp. Reduce -80.7% 0.04% −0.23
DAL Delta Air Lines Inc. Reduce -45.5% 0.12% −0.20
FLS Flowserve Corp. Sold out 0.00% −0.19
SHOP Shopify Inc. Class A Sold out 0.00% −0.19
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.19
CFLT Confluent Inc. Class A Sold out 0.00% −0.19
MMM 3M Co. Sold out 0.00% −0.19
VFC VF Corp. Sold out 0.00% −0.18
SKGR SK Growth Opportunities Co. Class A Sold out 0.00% −0.18
ROK Rockwell Automation Inc. Sold out 0.00% −0.18
GDX Vaneck Gold Miners ETF Sold out 0.00% −0.17
BKR Baker Hughes Co. Sold out 0.00% −0.15
NI Nisource Inc. Reduce -36.1% 0.27% −0.14
AVGO Broadcom Inc. Reduce -52.2% 0.07% −0.14
WDAY Workday Inc. Class A Sold out 0.00% −0.14
FLR Fluor Corp. Sold out 0.00% −0.13
INFA Informatica Inc. Class A Sold out 0.00% −0.13
SPT Sprout Social Inc. Class A Sold out 0.00% −0.12
CDE Coeur Mining Inc. Sold out 0.00% −0.12

Portfolio Buys Q4 2024 → Q1 2025
ITCI Intra-Cellular Therapies Inc. Add +15139.3% 9.91% +9.86
BECN Beacon Roofing Supply Inc. New 4.73% +4.73
DFS Discover Financial Services Add +104.8% 9.91% +4.72
WBA Walgreens Boots Alliance Inc. New 2.74% +2.74
HEES H&E Equipment Services Inc. New 2.50% +2.50
JWN Nordstrom Inc. New 2.35% +2.35
K Kellanova Add +30.9% 9.88% +2.05
BERY Berry Global Group Inc. Add +126.3% 3.32% +1.88
HES Hess Corp. Add +1.1% 11.30% +1.46
ANSS Ansys Inc. Add +70.2% 3.85% +1.30
FYBR Frontier Communications Pare Add +27.0% 4.58% +0.89
ML Moneylion Inc. Add +78.4% 0.92% +0.38
OXY Occidental Petroleum Corp. Add +180.3% 0.56% +0.35
ETR Entergy Corp. New 0.30% +0.30
CCRN Cross Country Healthcare Inc. New 0.29% +0.29
CHX Championx Corp. Add +1.3% 5.66% +0.27
IP International Paper Co. New 0.24% +0.24
UPS United Parcel Service Class B New 0.22% +0.22
LX Lexinfintech Holdings L-ADR Add +161.5% 0.27% +0.21
VMC Vulcan Materials Co. New 0.21% +0.21
PNR Pentair PLC New 0.20% +0.20
SARO Standardaero Inc. New 0.19% +0.19
CACI Caci International Inc. Class A New 0.19% +0.19
GTES Gates Industrial Corp. UK Ltd. Add +267.9% 0.25% +0.17
GPK Graphic Packaging Holding Co. Add +181.1% 0.26% +0.16
APD Air Products & Chemicals Inc. Add +156.2% 0.25% +0.15
FUTU Futu Holdings Ltd.-ADR New 0.14% +0.14
EMBJ Embraer SA-Spon ADR Add +89.3% 0.23% +0.13
MA Mastercard Inc. Class A New 0.12% +0.12
PDD PDD Holdings Inc. New 0.12% +0.12
RSG Republic Services Inc. Add +11.9% 0.52% +0.11
SO The Southern Co. Add +20.8% 0.47% +0.10
KMI Kinder Morgan Inc. New 0.10% +0.10
STLD Steel Dynamics Inc. New 0.10% +0.10
YMM Full Truck Alliance -SPN ADR New 0.08% +0.08
LOKVU Live Oak Acquisition Corp. V New 0.07% +0.07
BZ Kanzhun Ltd. - ADR New 0.07% +0.07
APTV Aptiv PLC New 0.07% +0.07
BTG B2GOLD Corp. Add +73.5% 0.13% +0.06
EWZ iShares MSCI Brazil ETF New 0.06% +0.06
ESGR Enstar Group Ltd. Add +15.5% 0.54% +0.06
POOL Pool Corp. New 0.06% +0.06
LPLA LPL Financial Holdings Inc. New 0.06% +0.06
NHICU Newhold Investment Corp. III New 0.06% +0.06
XYF X Financial-ADR New 0.05% +0.05
TW Tradeweb Markets Inc. Class A New 0.05% +0.05
RARE Ultragenyx Pharmaceutical Inc. Add +294.1% 0.08% +0.05
APH Amphenol Corp. Class A Add +48.3% 0.19% +0.05
GM General Motors Co. New 0.05% +0.05
AMZN Amazon.com Inc. Add +53.3% 0.22% +0.05

Options Activity Q4 2024 → Q1 2025
AAL American Airlines Group Inc. put Reduce -11.5% 9,425,000 $6.1M
LCID Lucid Group Inc. put Add +80.3% 2,840,100 $3.2M
HTZ Hertz Global Hldgs Inc. put Add +27.8% 1,194,300 $2.1M
TSLA Tesla Inc. put Add +19.1% 12,500 $1.8M
TLT iShares 20+ Year Treasury BD call New 1,650,000 $1.7M
COTY Coty Inc. Class A put Sold out 1,264,500 $1.6Mbefore exit
MGM MGM Resorts International put Reduce -33.9% 82,600 $752K
CHTR Charter Communications Inc. Class A put Add +144.1% 20,500 $654K
HOG Harley-Davidson Inc. put Add +2.1% 240,000 $642K
PTON Peloton Interactive Inc. Class A put Reduce -41.9% 290,500 $588K
CPRI Capri Holdings Ltd. put Sold out 12,600 $494Kbefore exit
META Meta Platforms Inc. Class A put New 16,000 $452K
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 1,550,000 $438Kbefore exit
LYV Live Nation Entertainment Inc. put Reduce -84.9% 32,500 $370K
XLI SS Industrial Select Sector put New 113,500 $361K
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -34.6% 85,000 $346K
XBI SS SPDR S&P Biotech ETF put Add +300.0% 200,000 $329K
SWTX Springworks Therapeutics Inc. put New 45,000 $315K
NCLH Norwegian Cruise Line Holdin put Reduce -19.3% 188,800 $267K
SRRK Scholar Rock Holding Corp. call Sold out 40,000 $203Kbefore exit
IWM iShares Russell 2000 ETF put Add +25.0% 45,000 $172K
EWTX Edgewise Therapeutics Inc. put New 45,000 $169K
XIFR XPLR Infrastructure LP put Reduce -24.0% 20,600 $165K
STWD Starwood Property Trust Inc. put Add +24.9% 172,500 $160K
OMF Onemain Holdings Inc. put Add +12.8% 34,400 $135K
RSP Invesco S&P 500 Equal Weight put Sold out 50,000 $125Kbefore exit
OCUL Ocular Therapeutix Inc. call New 120,000 $123K
SLNO Soleno Therapeutics Inc. call Add +50.0% 15,000 $123K
F Ford Motor Co. put Reduce -62.5% 195,500 $115K
RSP Invesco S&P 500 Equal Weight call Sold out 45,000 $114Kbefore exit
VISN Vistance Networks Inc. call New 450,000 $113K
DXCM Dexcom Inc. call Sold out 20,000 $108Kbefore exit
VERA Vera Therapeutics Inc. call Add +166.7% 40,000 $103K
VRNA Verona Pharma Ltd. call Sold out 25,000 $100Kbefore exit
TPH Tri Pointe Homes Inc. put New 18,000 $86K
NKE Nike Inc. Class B put Sold out 68,000 $84Kbefore exit
CCL Carnival Corp. put Reduce -76.0% 120,000 $83K
LEGN Legend Biotech Corp.-ADR put Sold out 20,000 $81Kbefore exit
QQQ Invesco QQQ Trust Series 1 put New 16,000 $72K
INCY Incyte Corp. call Add +175.0% 55,000 $71K
BGS B&G Foods Inc. put Reduce -3.3% 113,600 $60K
AER Aercap Holdings NV call New 112,500 $59K
XBI SS SPDR S&P Biotech ETF call Sold out 90,000 $56Kbefore exit
IWM iShares Russell 2000 ETF call Sold out 45,000 $55Kbefore exit
TGTX TG Therapeutics Inc. call Sold out 40,000 $55Kbefore exit
CAPR Capricor Therapeutics Inc. call Sold out 30,000 $54Kbefore exit
AES AES Corp. call New 150,000 $53K
ET Energy Transfer LP call New 320,000 $50K
DYN Dyne Therapeutics Inc. call Sold out 20,000 $49Kbefore exit
IRTC Irhythm Holdings Inc. call Sold out 15,000 $45Kbefore exit

Showing the first 50 of 91.

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

Notes & Other Activity Q4 2024 → Q1 2025
REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) NOTE 1.750% 2/1 · principal Sold out 40,000,000 $38.3Mbefore exit
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal New 15,000,000 $19.3M
FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal Reduce -42.5% 13,500,000 $13.0M
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Sold out 300,000 $8.3Mbefore exit
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal New 7,500,000 $7.3M
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF New 20,000 $1.7M
Colombier Acquisition - 29 *W EXP 11/24/202 Reduce -10.0% 90,000 $69K
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 Reduce -47.5% 60,000 $13K
CSLWF Consilium Acquisition -27 *W EXP 99/99/999 Sold out 67,295 $6Kbefore exit
WINVW Winvest Acquisition -CW23 *W EXP 08/09/202 Sold out 17,995 $299before 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