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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) reported 262 stock positions worth $3.5 billion. Its top holding was Kellanova (K) at 11.2% of the portfolio, followed by Walgreens Boots Alliance (WBA, 8.2%) and Skechers USA Class A (SKX, 6.5%). Compared with Q1 2025, it opened 111 new positions, sold out of 87, added to 49 and reduced 83. The biggest buy was a new position in Skechers USA Class A (SKX) and the biggest sale an exit from Discover Financial Services (DFS).

Most Recent 13F
Q4 2025
Location
CHICAGO, IL
CIK
0001132716
Portfolio Value
$3.5B (Q2 2025)
SEC Filing
0001132716-25-000019 ↗ filed Aug 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 Q4 2024 Q1 2025: $4.1B Q1 2025 Q2 2025: $3.5B $3.5B Q2 2025 Q3 2025: $3.1B Q3 2025 Q4 2025: $3.6B Q4 2025

Holdings 262 stocks · $3.5B
K Kellanova 11.16% 4,913,257 $390.8M Reduce -0.4%
WBA Walgreens Boots Alliance Inc. 8.24% 25,115,686 $288.3M Add +148.4%
SKX Skechers USA Inc. Class A 6.49% 3,598,177 $227.0M New
BPMC Blueprint Medicines Corp. 6.28% 1,713,587 $219.6M Add +11427.7%
FYBR Frontier Communications Pare 6.27% 6,029,490 $219.5M Add +14.8%
CHX Championx Corp. 5.36% 7,546,703 $187.5M Reduce -3.5%
ANSS Ansys Inc. 4.95% 492,829 $173.1M Reduce -1.5%
HES Hess Corp. 4.18% 1,055,429 $146.2M Reduce -63.8%
DNB Dun & Bradstreet Holdings Inc. 3.55% 13,678,842 $124.3M New
JNPR Juniper Networks Inc. 3.42% 3,000,000 $119.8M Reduce -52.0%
INFA Informatica Inc. Class A 3.16% 4,549,354 $110.8M New
SPR Spirit Aerosystems Hold Class A 3.08% 2,823,309 $107.7M Reduce -5.5%
LBRDK Liberty Broadband-C 2.58% 919,381 $90.4M New
SWTX Springworks Therapeutics Inc. 1.86% 1,385,517 $65.1M Add +3455.5%
COOP Mr Cooper Group Inc. 1.85% 435,000 $64.9M New
AMED Amedisys Inc. 1.33% 474,162 $46.7M Reduce -42.0%
ESGR Enstar Group Ltd. 1.13% 117,537 $39.5M Add +75.8%
NVDA Nvidia Corp. 1.05% 231,572 $36.6M Add +68.3%
IPG Interpublic Group of Cos Inc. 0.70% 1,000,000 $24.5M New
GMS GMS Inc. 0.62% 200,000 $21.8M New
SO The Southern Co. 0.59% 226,135 $20.8M Add +7.8%
OXY Occidental Petroleum Corp. 0.56% 466,400 $19.6M No change
CNP Centerpoint Energy Inc. 0.55% 524,615 $19.3M New
FL Foot Locker Inc. 0.50% 720,109 $17.6M New
MELI MercadoLibre Inc. 0.49% 6,528 $17.1M Add +45.7%
DUK Duke Energy Corp. 0.49% 144,040 $17.0M New
MAT Mattel Inc. 0.48% 843,229 $16.6M Reduce -13.0%
URI United Rentals Inc. 0.34% 15,850 $11.9M New
PNR Pentair PLC 0.34% 115,305 $11.8M Add +24.5%
DOV Dover Corp. 0.32% 61,100 $11.2M New
CLH Clean Harbors Inc. 0.28% 43,000 $9.9M New
ITUB Itau Unibanco H-Spon PRF ADR 0.28% 1,447,730 $9.8M Reduce -19.1%
NRG NRG Energy Inc. 0.28% 61,170 $9.8M Add +4.5%
APD Air Products & Chemicals Inc. 0.28% 34,475 $9.7M Reduce -1.5%
IR Ingersoll-Rand Inc. 0.28% 116,100 $9.7M Add +674.0%
ETR Entergy Corp. 0.27% 114,130 $9.5M Reduce -20.5%
AMZN Amazon.com Inc. 0.27% 43,190 $9.5M Reduce -10.6%
CCK Crown Holdings Inc. 0.26% 87,300 $9.0M New
FBIN Fortune Brands Innovations I 0.25% 167,475 $8.6M New
VMC Vulcan Materials Co. 0.25% 33,050 $8.6M Reduce -10.4%
CROX Crocs Inc. 0.24% 84,000 $8.5M New
PDD PDD Holdings Inc. 0.24% 80,143 $8.4M Add +89.5%
LX Lexinfintech Holdings L-ADR 0.24% 1,149,107 $8.3M Add +3.4%
CDNS Cadence Design SYS Inc. 0.23% 26,400 $8.1M New
AMD Advanced Micro Devices 0.22% 54,921 $7.8M Add +815.4%
UPS United Parcel Service Class B 0.22% 75,180 $7.6M Reduce -7.2%
CFLT Confluent Inc. Class A 0.21% 300,000 $7.5M New
AVGO Broadcom Inc. 0.21% 26,804 $7.4M Add +61.7%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.21% 85,555 $7.3M Add +38.0%
MS Morgan Stanley 0.20% 50,000 $7.0M New
LYV Live Nation Entertainment Inc. 0.20% 46,500 $7.0M New
VST Vistra Corp. 0.19% 34,975 $6.8M New
DAL Delta Air Lines Inc. 0.19% 135,148 $6.6M Add +21.6%
IP International Paper Co. 0.19% 140,600 $6.6M Reduce -25.5%
BTG B2GOLD Corp. 0.18% 1,784,416 $6.4M Reduce -7.2%
ULTA Ulta Beauty Inc. 0.18% 13,217 $6.2M New
NSC Norfolk Southern Corp. 0.18% 24,088 $6.2M Reduce -49.9%
FIVE Five Below 0.17% 45,000 $5.9M New
EMBJ Embraer SA-Spon ADR 0.17% 102,995 $5.9M Reduce -49.9%
NVT Nvent Electric PLC 0.17% 80,000 $5.9M New
BA The Boeing Co. 0.17% 27,675 $5.8M Reduce -18.6%
FLYYQ Spirit Aviation Holdings Inc. 0.16% 1,156,492 $5.8M New
LIN Linde PLC 0.16% 12,170 $5.7M Reduce -54.4%
AMAT Applied Materials Inc. 0.16% 30,000 $5.5M New
INTC Intel Corp. 0.16% 244,210 $5.5M New
SHW The Sherwin-Williams Co. 0.15% 15,800 $5.4M Reduce -30.9%
IWM iShares Russell 2000 ETF 0.15% 25,000 $5.4M New
TTAN Servicetitan Inc. Class A 0.15% 50,000 $5.4M New
HON Honeywell International Inc. 0.15% 22,636 $5.3M Reduce -2.6%
WAB Wabtec Corp. 0.15% 25,030 $5.2M New
ARCO Arcos Dorados Holdings Inc. Class A 0.15% 661,072 $5.2M Add +12.0%
GTEN Gores Holdings X Inc. Class A 0.15% 500,000 $5.1M New
CYH Community Health Systems Inc. 0.15% 1,500,000 $5.1M Add +20.0%
INTR Inter & Co. Inc. Class A 0.14% 682,166 $5.1M Reduce -21.5%
MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR 0.13% 450,000 $4.6M New
FOUR SHIFT4 Payments Inc. Class A 0.13% 46,775 $4.6M New
PAGS Pagseguro Digital Ltd. Class A 0.12% 438,078 $4.2M New
BEAG Bold Eagle Acquisition Cor-A 0.12% 400,000 $4.2M New
TVA Texas Ventures Acquisition-A 0.12% 400,000 $4.0M New
BTI British American Tob-SP ADR 0.11% 82,631 $3.9M New
ODFL Old Dominion Freight Line 0.11% 23,320 $3.8M New
DLTR Dollar Tree Inc. 0.11% 38,000 $3.8M Add +155.0%
NOC Northrop Grumman Corp. 0.11% 7,500 $3.7M New
TEVA Teva Pharmaceutical-SP ADR 0.11% 223,596 $3.7M Add +121.8%
ECVT Ecovyst Inc. 0.11% 450,000 $3.7M New
PONY Pony AI Inc. 0.11% 279,208 $3.7M New
TECK Teck Resources Ltd.-CLS B 0.10% 90,000 $3.6M New
ANSC Agriculture & Natural Soluti 0.10% 334,160 $3.6M No change
XYF X Financial-ADR filed as X FINL 0.10% 205,614 $3.6M Add +31.2%
CCO Clear Channel Outdoor Holdin 0.10% 3,000,000 $3.5M New
FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III 0.09% 331,000 $3.3M New
GMAB Genmab A/S -SP ADR 0.09% 158,719 $3.3M Add +120.8%
GLOB Globant SA 0.09% 35,927 $3.3M Add +18.4%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.09% 40,000 $3.2M New
IONS Ionis Pharmaceuticals Inc. 0.09% 81,251 $3.2M Reduce -10.5%
VALE Vale SA-SP ADR 0.09% 327,259 $3.2M No change
BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A 0.09% 192,490 $3.2M New
BAP Credicorp Ltd. 0.09% 14,076 $3.1M Add +69.4%
META Meta Platforms Inc. Class A 0.09% 4,238 $3.1M New
DXCM Dexcom Inc. 0.09% 35,668 $3.1M Reduce -0.5%
AS Amer Sports Inc. 0.09% 80,000 $3.1M No change
BKR Baker Hughes Co. 0.09% 80,000 $3.1M New
BSAC Banco Santander-Chile-ADR 0.09% 119,793 $3.0M Add +3.8%
AZN Astrazeneca PLC-Spons ADR 0.09% 42,998 $3.0M Add +550.4%
ACEL Accel Entertainment Inc. 0.08% 246,728 $2.9M No change
PH Parker Hannifin Corp. 0.08% 4,020 $2.8M Reduce -38.0%
NCLH Norwegian Cruise Line Holdin 0.08% 135,000 $2.7M Reduce -24.2%
BAX Baxter International Inc. 0.08% 88,787 $2.7M Add +64.0%
COO The Cooper Cos Inc. 0.08% 37,214 $2.6M Add +67.0%
INSM Insmed Inc. 0.08% 26,301 $2.6M Add +3.4%
GPAT GP-Act III Acquisition-A 0.08% 250,000 $2.6M New
CCIX Churchill Capital Corp. Ix 0.08% 250,000 $2.6M New
ITGR Integer Holdings Corp. 0.08% 21,375 $2.6M New
VCIC Vine Hill Capital Class A 0.07% 250,000 $2.6M Reduce -47.4%
BDX Becton Dickinson and Co. 0.07% 15,107 $2.6M Reduce -34.6%
NETD Nabors Energy Transition C-A 0.07% 233,912 $2.6M No change
MLAC Mountain Lake Acquisition-A 0.07% 250,000 $2.6M New
SVCC Stellar V Capital Corp. Class A 0.07% 250,000 $2.6M New
FTW Eqv Ventures Acquisition C-A 0.07% 242,175 $2.5M No change
AXTA Axalta Coating Systems Ltd. 0.07% 85,250 $2.5M No change
CHAC Crane Harbor Acqu Corp. Class A 0.07% 250,000 $2.5M New
MEOH Methanex Corp. 0.07% 76,000 $2.5M New
CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II 0.07% 250,000 $2.5M New
EGHA Egh Acquisition Co. Class A 0.07% 250,000 $2.5M New
ABBV Abbvie Inc. 0.07% 13,297 $2.5M Add +1266.6%
MU Micron Technology Inc. 0.07% 20,000 $2.5M New
ALGN Align Technology Inc. 0.07% 12,755 $2.4M Add +40.9%
ASML ASML Holding NV-NY Reg SHS 0.07% 3,000 $2.4M New
ACMR Acm Research Inc. Class A 0.07% 92,121 $2.4M New
NHIC Newhold Investment Cor III-A 0.07% 225,000 $2.3M No change
ONC Beone Medicines Ltd.-ADR 0.06% 9,377 $2.3M Add +398.8%
ALC Alcon Inc. filed as ALCON AG 0.06% 25,555 $2.3M Add +219.4%
MSFT Microsoft Corp. 0.06% 4,449 $2.2M Reduce -7.2%
YMM Full Truck Alliance -SPN ADR 0.06% 186,090 $2.2M Reduce -27.8%
GTES Gates Industrial Corp. UK Ltd. 0.06% 94,620 $2.2M Reduce -82.8%
BRR Columbus Circle Capital Co. Class A 0.06% 200,000 $2.1M New
CAEP Cantor Equity Partners III-A 0.06% 200,000 $2.1M New
OACC Oaktree Acquisition Corp. I-A 0.06% 200,000 $2.1M Reduce -55.6%
CX Cemex Sab-Spons ADR Part Cer 0.06% 299,870 $2.1M New
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 0.06% 250,000 $2.1M Reduce -50.0%
LEGT Legato Merger Corp. III 0.06% 193,740 $2.1M No change
ATII Archimedes Tech Spac Partner 0.06% 200,000 $2.0M New
RZLT Rezolute Inc. 0.06% 455,701 $2.0M Reduce -9.4%
XRPN Armada Acquisition Class A 0.06% 200,000 $2.0M New
CRAQ Cal Redwood Acquisit Class A 0.06% 200,000 $2.0M New
HWM Howmet Aerospace Inc. 0.06% 10,674 $2.0M New
INCY Incyte Corp. 0.06% 28,924 $2.0M Reduce -29.3%
RIGL Rigel Pharmaceuticals Inc. 0.06% 104,890 $2.0M Reduce -5.0%
OCUL Ocular Therapeutix Inc. 0.06% 210,205 $2.0M Reduce -18.6%
ADT Adt Inc. 0.06% 229,607 $1.9M No change
MRVL Marvell Technology Inc. 0.05% 24,688 $1.9M New
AGIO Agios Pharmaceuticals Inc. 0.05% 56,810 $1.9M Reduce -3.3%
TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V 0.05% 174,923 $1.9M Reduce -41.7%
CCJ Cameco Corp. 0.05% 25,000 $1.9M New
VRDN Viridian Therapeutics Inc. 0.05% 131,294 $1.8M Add +22.6%
IMCR Immunocore Holdings PLC-ADR 0.05% 53,343 $1.7M Add +18.0%
CAT Caterpillar Inc. 0.05% 4,200 $1.6M New
IQV Iqvia Holdings Inc. 0.05% 10,275 $1.6M Add +105.5%
AACB Artius II Acquisition Inc. Class A 0.05% 160,000 $1.6M New
POLE Andretti Acquisition Corp. Class A 0.04% 150,000 $1.6M No change
TMO Thermo Fisher Scientific Inc. 0.04% 3,770 $1.5M New
SOUL Soulpower Acquisition Co. Class A 0.04% 150,000 $1.5M New
VIST Vista Energy Sab DE CV 0.04% 31,391 $1.5M New
GPRK Geopark Ltd. 0.04% 228,367 $1.5M New
WMT Walmart Inc. 0.04% 15,000 $1.5M Reduce -50.0%
PRCT Procept Biorobotics Corp. 0.04% 25,226 $1.5M Reduce -9.9%
KIDS Orthopediatrics Corp. 0.04% 65,866 $1.4M Reduce -12.0%
HLT Hilton Worldwide Holdings Inc. 0.04% 5,000 $1.3M New
ATEC Alphatec Holdings Inc. 0.04% 119,094 $1.3M Reduce -38.7%
AUTL Autolus Therapeutics PLC 0.04% 565,000 $1.3M New
SN Sharkninja Inc. 0.04% 13,000 $1.3M Reduce -62.9%
INSP Inspire Medical Systems Inc. 0.04% 9,522 $1.2M Add +19.0%
DASH DoorDash Inc. Class A 0.04% 5,000 $1.2M New
IRTC Irhythm Holdings Inc. 0.04% 7,993 $1.2M Reduce -40.8%
ARGX Argenx SE - ADR 0.03% 2,191 $1.2M New
SIG Signet Jewelers Ltd. 0.03% 15,000 $1.2M New
ANNX Annexon Inc. 0.03% 492,698 $1.2M Add +5.5%
VFC VF Corp. 0.03% 100,000 $1.2M New
ALCYF Alchemy Investments Acquisit 0.03% 100,248 $1.2M No change
RARE Ultragenyx Pharmaceutical Inc. 0.03% 31,861 $1.2M Reduce -63.7%
CRNX Crinetics Pharmaceuticals Inc. 0.03% 39,978 $1.1M Reduce -1.6%
EW Edwards Lifesciences Corp. 0.03% 14,510 $1.1M Add +32.9%
HAYMAKER ACQUISITION CORP 4 0.03% 100,248 $1.1M No change
AME Ametek Inc. 0.03% 6,085 $1.1M New
TKO Tko Group Holdings Inc. 0.03% 6,000 $1.1M New
MIRM Mirum Pharmaceuticals Inc. 0.03% 21,409 $1.1M Reduce -5.1%
SE Sea Ltd.-ADR 0.03% 6,800 $1.1M New
IDYA Ideaya Biosciences Inc. 0.03% 51,600 $1.1M Reduce -25.7%
MLYS Mineralys Therapeutics Inc. 0.03% 79,723 $1.1M Add +8.7%
ESAB Esab Corp. 0.03% 8,900 $1.1M New
TME Tencent Music Entertainm-ADR 0.03% 55,000 $1.1M New
REPL Replimune Group Inc. 0.03% 114,082 $1.1M Reduce -54.4%
VSTM Verastem Inc. 0.03% 255,253 $1.1M Reduce -51.1%
ALDF Aldel Financial II Inc. 0.03% 100,000 $1.0M Reduce -55.6%
KNSA Kiniksa Pharmaceuticals Inte 0.03% 37,602 $1.0M Reduce -73.0%
DRDB Roman DBDR Acquisition Corp. 0.03% 100,000 $1.0M New
JACS Jackson Acquisition Co. Class A 0.03% 100,000 $1.0M New
TERN Terns Pharmaceuticals Inc. 0.03% 273,619 $1.0M Reduce -18.6%
PMTR Perimeter Acquis Corp. I Class A 0.03% 100,000 $1.0M New
NPAC New Providence Acquisition-A 0.03% 100,000 $1.0M New
OYSEU Oyster Enterprises II Acquis 0.03% 100,000 $1.0M New
COPL Copley Acquisition Corp. Class A 0.03% 100,000 $1.0M New
SZZL Sizzle Acquisition Corp. Class A 0.03% 100,000 $1.0M New
PELI Pelican Acquisition Corp. 0.03% 100,000 $1.0M New
BCYC Bicycle Therapeutics PLC-ADR 0.03% 143,800 $999K Reduce -3.3%
ZK Zeekr Intelligent Techno-ADR 0.03% 39,100 $997K New
PVLA Palvella Therapeutics Inc. 0.03% 43,994 $992K Reduce -9.6%
COST Costco Wholesale Corp. 0.03% 1,000 $990K No change
NVNO Envveno Medical Corporation 0.03% 241,161 $962K Reduce -18.5%
ACAD Acadia Pharmaceuticals Inc. 0.03% 43,000 $928K New
BILI Bilibili Inc.-Sponsored ADR 0.03% 43,230 $927K New
LEVI Levi Strauss & Co. Class A 0.03% 50,000 $925K New
PRAX Praxis Precision Medicines I 0.03% 21,892 $921K Reduce -18.3%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.03% 51,814 $919K New
RAAQ Real Asset Acquisiti Class A 0.03% 89,645 $911K New
SRRK Scholar Rock Holding Corp. 0.03% 25,426 $901K Reduce -7.9%
KALV Kalvista Pharmaceuticals Inc. 0.03% 79,460 $898K Reduce -53.2%
GEV GE Vernova Inc. 0.03% 1,680 $889K New
LRMR Larimar Therapeutics Inc. 0.03% 307,198 $888K Add +70.6%
QURE Uniqure NV 0.03% 63,475 $885K Reduce -44.8%
AXGN Axogen Inc. 0.03% 81,429 $884K Reduce -6.9%
MRUS Merus NV 0.03% 16,704 $879K Reduce -31.1%
SLNO Soleno Therapeutics Inc. 0.02% 10,362 $868K Reduce -39.1%
ADPT Adaptive Biotechnologies 0.02% 73,441 $856K Reduce -60.9%
ANAB Anaptysbio Inc. 0.02% 38,528 $855K Reduce -18.1%
SNDX Syndax Pharmaceuticals Inc. 0.02% 90,441 $847K Add +52.2%
PTGX Protagonist Therapeutics Inc. 0.02% 14,523 $803K Add +8.9%
OFIX Orthofix Medical Inc. 0.02% 67,518 $753K Reduce -24.2%
SPKLF Spark I Acquisition Corp. 0.02% 66,832 $728K No change
EWTX Edgewise Therapeutics Inc. 0.02% 55,292 $725K Add +38.2%
PTCT PTC Therapeutics Inc. 0.02% 14,548 $711K Reduce -37.7%
DAWN Day One Biopharmaceuticals I 0.02% 107,249 $697K Reduce -5.3%
TGTX TG Therapeutics Inc. 0.02% 19,000 $684K New
CGON CG Oncology Inc. 0.02% 26,000 $676K New
AXSM Axsome Therapeutics Inc. 0.02% 6,400 $668K New
SKIL Skillsoft Corp. 0.02% 41,692 $666K No change
KALA Kala Bio Inc. 0.02% 138,556 $660K Reduce -18.9%
IRON Disc Medicine Inc. 0.02% 12,317 $652K Reduce -9.6%
VERA Vera Therapeutics Inc. 0.02% 27,400 $646K Add +21.6%
BBIO Bridgebio Pharma Inc. 0.02% 13,771 $595K Reduce -46.0%
UWMC Uwm Holdings Corp. 0.02% 143,000 $592K No change
TMCI Treace Medical Concepts Inc. 0.02% 100,317 $590K Reduce -32.1%
CEPT Cantor Equity Partners Class A 0.02% 50,000 $552K New
NUVB Nuvation Bio Inc. 0.02% 282,464 $551K Reduce -52.3%
SBXDF Silverbox Corp. IV-A 0.02% 50,000 $548K Reduce -79.3%
MBLY Mobileye Global Inc. Class A 0.02% 30,000 $539K New
NGNE Neurogene Inc. 0.01% 34,761 $520K Reduce -37.9%
KROS Keros Therapeutics Inc. 0.01% 37,891 $506K Reduce -67.2%
ORIC Oric Pharmaceuticals Inc. 0.01% 49,000 $497K Add +2.9%
SDGR Schrodinger Inc. 0.01% 24,358 $490K Reduce -58.8%
TARS Tarsus Pharmaceuticals Inc. 0.01% 11,000 $446K New
RLAY Relay Therapeutics Inc. 0.01% 127,036 $440K Reduce -66.8%
RCUS Arcus Biosciences Inc. 0.01% 52,975 $431K Reduce -58.8%
ARVN Arvinas Inc. 0.01% 50,000 $368K New
SABR Sabre Corp. 0.01% 110,000 $348K New
CAPR Capricor Therapeutics Inc. 0.00% 17,054 $169K New
VTYX Ventyx Biosciences Inc. 0.00% 79,000 $169K New
XFOR X4 Pharmaceuticals Inc. 0.00% 80,000 $152K Add +850.1%
OCFT Oneconnect Financial Techno 0.00% 18,106 $130K Reduce -78.3%
AMC AMC Entertainment HLDS Class A 0.00% 39,688 $123K No change
IFRX Inflarx NV 0.00% 150,000 $119K Add +158.3%
IMUX Immunic Inc. 0.00% 30,000 $21K Reduce -38.6%

Options reported separately and not counted above: AAL puts ($4.4M), LCID puts ($2.6M), MGNI calls ($1.9M), CROX calls ($1.2M), HTZ puts ($1.2M), MAT calls ($985K), F puts ($868K), HOG puts ($841K), RIG puts ($766K), CC puts ($638K), SPY puts ($628K), VISN calls ($578K), and 67 more.

Other holdings (26): bonds, preferreds, convertibles and warrants · $161.9M (not counted above)
SecurityClassShares / PrincipalValueChange
PELOTON INTERACTIVE INC (PTON 0 02/15/26) NOTE 2/1 · principal 27,352,000$26.4MNo change
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 22,500,000$25.7MAdd +50.0%
SOUTHERN CO (SO 4.5 06/15/27) NOTE 4.500% 6/1 · principal 17,500,000$19.2MNew
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 16,000,000$16.1MNew
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal 15,000,000$15.9MNew
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) NOTE 3/1 · principal 17,000,000$15.3MAdd +750.0%
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal 10,000,000$15.2MNo change
FIRSTENERGY CORP (FE 4 05/01/26) NOTE 4.000% 5/0 · principal 10,000,000$10.1MNew
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 9,500,000$9.2MAdd +26.7%
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 412,214$3.3MNew
BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal 29,000,000$2.5MNo change
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 20,000$2.4MNo change
EVLVW Evolv Technologies -CW26 *W EXP 07/16/202 463,341$259KNo change
BEAGR Bold Eagle Acquisition Corp. RIGHT 10/11/2029 400,000$122KNo change
BACQR Inflection Point Acquisition RIGHT 11/04/2026 250,000$81KNew
DAICW Cid Holdco Inc. -26 *W EXP 12/31/202 282,640$21KNew
TVGNW Semper Paratus Acqu -CW26 *W EXP 02/14/202 181,387$12KNo change
XAGEW Alpha Healthcare Acquis-CW27 *W EXP 07/12/202 371,250$11KNo change
RMCOW American Acq Class A -CW26 *W EXP 10/31/202 221,686$7KNo change
BRLSW Oxus Acquisition Corp. -CW23 *W EXP 02/07/202 70,030$6KNo change
FASWF Stonebridge Acquisition-CW23 *W EXP 04/02/202 135,667$6KNo change
BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 150,251$5KNo change
MSAIW Sportsmap Tech Acq -CW27 *W EXP 12/19/202 142,585$4KNo change
RDZNW Vahanna Tech Edge -CW24 *W EXP 11/30/202 65,696$3KNo change
OPTXW Omnilit Acquisition Class A -23 *W EXP 99/99/999 32,034$3KNo change
BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 110,914$2KNo change

Total filed on the 13F, all lines: $3.7B.

Portfolio Sells Q1 2025 → Q2 2025
DFS Discover Financial Services Sold out 0.00% −9.91
ITCI Intra-Cellular Therapies Inc. Sold out 0.00% −9.91
HES Hess Corp. Reduce -63.8% 4.18% −7.12
BECN Beacon Roofing Supply Inc. Sold out 0.00% −4.73
BERY Berry Global Group Inc. Sold out 0.00% −3.32
HEES H&E Equipment Services Inc. Sold out 0.00% −2.50
JWN Nordstrom Inc. Sold out 0.00% −2.35
JNPR Juniper Networks Inc. Reduce -52.0% 3.42% −2.07
X United States Steel Corp. Sold out 0.00% −1.29
ML Moneylion Inc. Sold out 0.00% −0.92
RSG Republic Services Inc. Sold out 0.00% −0.52
AMED Amedisys Inc. Reduce -42.0% 1.33% −0.51
CNI Canadian Natl Railway Co. Sold out 0.00% −0.32
XEL Xcel Energy Inc. Sold out 0.00% −0.31
CHX Championx Corp. Reduce -3.5% 5.36% −0.30
CCRN Cross Country Healthcare Inc. Sold out 0.00% −0.29
NI Nisource Inc. Sold out 0.00% −0.27
GPK Graphic Packaging Holding Co. Sold out 0.00% −0.26
CRH CRH PLC Sold out 0.00% −0.24
SARO Standardaero Inc. Sold out 0.00% −0.19
APH Amphenol Corp. Class A Sold out 0.00% −0.19
CACI Caci International Inc. Class A Sold out 0.00% −0.19
GTES Gates Industrial Corp. UK Ltd. Reduce -82.8% 0.06% −0.18
EQC Equity Commonwealth Sold out 0.00% −0.16
FTV Fortive Corp. Sold out 0.00% −0.14
LIN Linde PLC Reduce -54.4% 0.16% −0.14
FUTU Futu Holdings Ltd.-ADR Sold out 0.00% −0.14
MA Mastercard Inc. Class A Sold out 0.00% −0.12
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.11
RENEF Cartesian Growth Corp. II- A Sold out 0.00% −0.10
CCIXU Churchill Capital Corp. Ix Sold out 0.00% −0.10
NSC Norfolk Southern Corp. Reduce -49.9% 0.18% −0.10
KMI Kinder Morgan Inc. Sold out 0.00% −0.10
STLD Steel Dynamics Inc. Sold out 0.00% −0.10
LHX L3HARRIS Technologies Inc. Sold out 0.00% −0.10
CMC Commercial Metals Co. Sold out 0.00% −0.10
AMX America Movil Sab DE CV Sold out 0.00% −0.09
OPTU Optimum Communications Inc. Class A Sold out 0.00% −0.08
HUBB Hubbell Inc. Sold out 0.00% −0.07
BZ Kanzhun Ltd. - ADR Sold out 0.00% −0.07
APTV Aptiv PLC Sold out 0.00% −0.07
EMBJ Embraer SA-Spon ADR Reduce -49.9% 0.17% −0.06
EWZ iShares MSCI Brazil ETF Sold out 0.00% −0.06
MLACU Mountain Lake Acquisition Co. Sold out 0.00% −0.06
POOL Pool Corp. Sold out 0.00% −0.06
LPLA LPL Financial Holdings Inc. Sold out 0.00% −0.06
CRM Salesforce Inc. Sold out 0.00% −0.06
IP International Paper Co. Reduce -25.5% 0.19% −0.06
BDX Becton Dickinson and Co. Reduce -34.6% 0.07% −0.05
TW Tradeweb Markets Inc. Class A Sold out 0.00% −0.05

Portfolio Buys Q1 2025 → Q2 2025
SKX Skechers USA Inc. Class A New 6.49% +6.49
BPMC Blueprint Medicines Corp. Add +11427.7% 6.28% +6.24
WBA Walgreens Boots Alliance Inc. Add +148.4% 8.24% +5.49
DNB Dun & Bradstreet Holdings Inc. New 3.55% +3.55
INFA Informatica Inc. Class A New 3.16% +3.16
LBRDK Liberty Broadband-C New 2.58% +2.58
COOP Mr Cooper Group Inc. New 1.85% +1.85
SWTX Springworks Therapeutics Inc. Add +3455.5% 1.86% +1.82
FYBR Frontier Communications Pare Add +14.8% 6.27% +1.69
IPG Interpublic Group of Cos Inc. New 0.70% +0.70
NVDA Nvidia Corp. Add +68.3% 1.05% +0.68
GMS GMS Inc. New 0.62% +0.62
ESGR Enstar Group Ltd. Add +75.8% 1.13% +0.59
CNP Centerpoint Energy Inc. New 0.55% +0.55
FL Foot Locker Inc. New 0.50% +0.50
DUK Duke Energy Corp. New 0.49% +0.49
URI United Rentals Inc. New 0.34% +0.34
DOV Dover Corp. New 0.32% +0.32
CLH Clean Harbors Inc. New 0.28% +0.28
MELI MercadoLibre Inc. Add +45.7% 0.49% +0.28
CCK Crown Holdings Inc. New 0.26% +0.26
IR Ingersoll-Rand Inc. Add +674.0% 0.28% +0.25
FBIN Fortune Brands Innovations I New 0.25% +0.25
CROX Crocs Inc. New 0.24% +0.24
CDNS Cadence Design SYS Inc. New 0.23% +0.23
CFLT Confluent Inc. Class A New 0.21% +0.21
AMD Advanced Micro Devices Add +815.4% 0.22% +0.21
MS Morgan Stanley New 0.20% +0.20
LYV Live Nation Entertainment Inc. New 0.20% +0.20
VST Vistra Corp. New 0.19% +0.19
ULTA Ulta Beauty Inc. New 0.18% +0.18
FIVE Five Below New 0.17% +0.17
NVT Nvent Electric PLC New 0.17% +0.17
FLYYQ Spirit Aviation Holdings Inc. New 0.16% +0.16
AMAT Applied Materials Inc. New 0.16% +0.16
INTC Intel Corp. New 0.16% +0.16
IWM iShares Russell 2000 ETF New 0.15% +0.15
TTAN Servicetitan Inc. Class A New 0.15% +0.15
WAB Wabtec Corp. New 0.15% +0.15
GTEN Gores Holdings X Inc. Class A New 0.15% +0.15
NRG NRG Energy Inc. Add +4.5% 0.28% +0.14
AVGO Broadcom Inc. Add +61.7% 0.21% +0.14
PNR Pentair PLC Add +24.5% 0.34% +0.14
MRLN Merlin Inc. New 0.13% +0.13
FOUR SHIFT4 Payments Inc. Class A New 0.13% +0.13
SO The Southern Co. Add +7.8% 0.59% +0.12
PAGS Pagseguro Digital Ltd. Class A New 0.12% +0.12
BEAG Bold Eagle Acquisition Cor-A New 0.12% +0.12
PDD PDD Holdings Inc. Add +89.5% 0.24% +0.12
TVA Texas Ventures Acquisition-A New 0.12% +0.12

Options Activity Q1 2025 → Q2 2025
AAL American Airlines Group Inc. put Add +14.7% 10,810,000 $4.4M
LCID Lucid Group Inc. put Add +4.4% 2,965,100 $2.6M
MGNI Magnite Inc. call Add +303.7% 432,000 $1.9M
TLT iShares 20+ Year Treasury BD call Sold out 1,650,000 $1.7Mbefore exit
CROX Crocs Inc. call New 125,000 $1.2M
XRX Xerox Holdings Corp. put Sold out 278,300 $1.2Mbefore exit
MAT Mattel Inc. call New 355,000 $985K
F Ford Motor Co. put Add +373.1% 924,900 $868K
HOG Harley-Davidson Inc. put Add +56.3% 375,000 $841K
RIG Transocean Ltd. put Add +10.0% 883,400 $766K
SPY SS SPDR S&P 500 ETF Trust-US put Add +124.1% 190,500 $628K
VISN Vistance Networks Inc. call Add +22.2% 550,000 $578K
META Meta Platforms Inc. Class A put Sold out 16,000 $452Kbefore exit
XLI SS Industrial Select Sector put Sold out 113,500 $361Kbefore exit
FOUR SHIFT4 Payments Inc. Class A call New 35,000 $354K
MRVL Marvell Technology Inc. call New 75,000 $341K
SWTX Springworks Therapeutics Inc. put Sold out 45,000 $315Kbefore exit
REPL Replimune Group Inc. call New 169,000 $308K
IWM iShares Russell 2000 ETF call New 105,000 $288K
AAPL Apple Inc. call New 74,000 $279K
RARE Ultragenyx Pharmaceutical Inc. call New 60,000 $238K
CLMT Calumet Inc. put New 175,000 $234K
FSLR First Solar Inc. call New 15,000 $189K
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 500,000 $173K
IWM iShares Russell 2000 ETF put Sold out 45,000 $172Kbefore exit
EWTX Edgewise Therapeutics Inc. put Sold out 45,000 $169Kbefore exit
UAL United Airlines Holdings Inc. put New 87,500 $165K
GLD SPDR Gold Shares call New 31,500 $154K
XBI SS SPDR S&P Biotech ETF put Reduce -47.5% 105,000 $149K
RIG Transocean Ltd. call New 400,000 $140K
INSM Insmed Inc. put New 27,000 $138K
QURE Uniqure NV call Add +23.1% 80,000 $124K
QQQ Invesco QQQ Trust Series 1 put Add +25.0% 20,000 $117K
PTON Peloton Interactive Inc. Class A put Add +37.7% 400,000 $114K
TLT iShares 20+ Year Treasury BD put New 600,000 $102K
INSP Inspire Medical Systems Inc. put New 10,000 $86K
CCL Carnival Corp. put Sold out 120,000 $83Kbefore exit
SLNO Soleno Therapeutics Inc. call Reduce -33.3% 10,000 $75K
IRM Iron Mountain Inc. put New 25,000 $70K
XBI SS SPDR S&P Biotech ETF call New 70,000 $67K
AER Aercap Holdings NV call Sold out 112,500 $59Kbefore exit
ALKS Alkermes PLC put New 25,000 $58K
AES AES Corp. call Sold out 150,000 $53Kbefore exit
INCY Incyte Corp. call Reduce -36.4% 35,000 $50K
CAPR Capricor Therapeutics Inc. put New 33,000 $44K
XLV SS Health Care Select Sector put New 70,000 $41K
CE Celanese Corp. call Sold out 70,000 $40Kbefore exit
SLNO Soleno Therapeutics Inc. put Reduce -33.3% 12,000 $40K
BPMC Blueprint Medicines Corp. put Sold out 10,000 $31Kbefore exit
BIIB Biogen Inc. call New 20,000 $30K

Showing the first 50 of 72.

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

Notes & Other Activity Q1 2025 → Q2 2025
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal Add +50.0% 22,500,000 $25.7M
SOUTHERN CO (SO 4.5 06/15/27) NOTE 4.500% 6/1 · principal New 17,500,000 $19.2M
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal New 16,000,000 $16.1M
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal New 15,000,000 $15.9M
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) NOTE 3/1 · principal Add +750.0% 17,000,000 $15.3M
FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal Sold out 13,500,000 $13.0Mbefore exit
FIRSTENERGY CORP (FE 4 05/01/26) NOTE 4.000% 5/0 · principal New 10,000,000 $10.1M
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal Add +26.7% 9,500,000 $9.2M
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 New 412,214 $3.3M
INFINERA CORP (INFN 3.75 08/01/28) NOTE 3.750% 8/0 · principal Sold out 1,250,000 $1.6Mbefore exit
BACQR Inflection Point Acquisition RIGHT 11/04/2026 New 250,000 $81K
Colombier Acquisition - 29 *W EXP 11/24/202 Sold out 90,000 $69Kbefore exit
KDKRW Ares Acquisition Corp. II-28 *W EXP 99/99/999 Sold out 82,711 $24Kbefore exit
DAICW Cid Holdco Inc. -26 *W EXP 12/31/202 New 282,640 $21K
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 Sold out 60,000 $13Kbefore exit
REEWF Cartesian Growth Corp. II -28 *W EXP 07/12/202 Sold out 118,982 $7Kbefore exit
IVAWF Investcorp India Acquisi -27 *W EXP 06/01/202 Sold out 209,630 $5Kbefore 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