Osterweis Capital Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Osterweis Capital Management Inc. reported 240 stock positions worth $1.7 billion. Its top holding was Alphabet Class C (GOOG) at 6.3% of the portfolio, followed by Microsoft (MSFT, 5.9%) and Amazon.com (AMZN, 4.6%). Compared with Q2 2025, it opened 16 new positions, sold out of 23, added to 46 and reduced 64. The biggest buy was Eli Lilly (LLY, shares +320%) and the biggest sale Microsoft (MSFT, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001007524
- Portfolio Value
- $1.7B (Q3 2025)
- SEC Filing
- 0001007524-25-000003 ↗ filed Nov 14, 2025
Holdings Value
Holdings 240 stocks · $1.7B
| GOOG Alphabet Inc. Class C | 6.31% | 439,530 | $107.0M | Reduce -9.0% |
| MSFT Microsoft Corp. | 5.86% | 191,764 | $99.3M | Reduce -16.0% |
| AMZN Amazon.com Inc. | 4.58% | 354,201 | $77.8M | Add +0.0% |
| AVGO Broadcom Inc. | 4.11% | 211,365 | $69.7M | Reduce -1.4% |
| AZO AutoZone Inc. | 2.95% | 11,669 | $50.1M | Reduce -0.5% |
| V Visa Inc. Class A | 2.86% | 142,091 | $48.5M | Add +1.4% |
| DHR Danaher Corp. | 2.82% | 241,242 | $47.8M | Add +0.0% |
| JPM JPMorgan Chase & Co. | 2.65% | 142,286 | $44.9M | Add +0.4% |
| AWK American Water Works Co. Inc. | 2.45% | 298,059 | $41.5M | Add +1.1% |
| APD Air Products & Chemicals Inc. | 2.40% | 149,057 | $40.7M | Add +0.1% |
| BRO Brown & Brown Inc. | 2.34% | 423,591 | $39.7M | Add +28.3% |
| ADI Analog Devices Inc. | 2.27% | 156,820 | $38.5M | Reduce -0.5% |
| AMAT Applied Materials Inc. | 2.24% | 185,746 | $38.0M | Add +1.2% |
| WCN Waste Connections Inc. | 2.22% | 213,797 | $37.6M | Add +1.7% |
| PGR Progressive Corp. | 2.20% | 150,983 | $37.3M | Add +14.7% |
| LLY Eli Lilly & Co. | 2.16% | 47,982 | $36.6M | Add +319.9% |
| LHX L3HARRIS Technologies Inc. | 2.04% | 113,334 | $34.6M | Reduce -25.7% |
| TRNO Terreno Realty Corp. | 2.02% | 604,404 | $34.3M | Add +0.6% |
| LAMR Lamar Advertising Co. Class A | 1.91% | 264,491 | $32.4M | Add +0.1% |
| KEYS Keysight Technologies Inc. | 1.81% | 175,497 | $30.7M | Reduce -13.7% |
| INTU Intuit Inc. | 1.77% | 43,896 | $30.0M | Add +1.4% |
| FERG Ferguson Enterprises Inc. | 1.68% | 126,715 | $28.5M | Reduce -20.8% |
| AME Ametek Inc. | 1.65% | 148,664 | $27.9M | Add +0.6% |
| BSX Boston Scientific Corp. | 1.64% | 284,202 | $27.7M | Add +0.3% |
| NVDA Nvidia Corp. | 1.49% | 135,239 | $25.2M | Add +0.5% |
| CP Canadian Pacific Kansas City | 1.48% | 337,288 | $25.1M | New |
| BA The Boeing Co. | 1.42% | 111,369 | $24.0M | Add +0.8% |
| CRM Salesforce Inc. | 1.38% | 98,563 | $23.4M | Add +0.1% |
| LH Labcorp Holdings Inc. | 1.32% | 78,148 | $22.4M | Reduce -0.5% |
| SNPS Synopsys Inc. | 1.29% | 44,287 | $21.9M | Add +0.2% |
| ICE Intercontinental Exchange Inc. | 1.24% | 125,163 | $21.1M | New |
| DE Deere & Co. | 1.13% | 41,923 | $19.2M | Add +1.3% |
| META Meta Platforms Inc. Class A | 1.11% | 25,699 | $18.9M | Add +0.9% |
| FSV Firstservice Corp. | 1.03% | 91,594 | $17.4M | Reduce -10.8% |
| SITM Sitime Corp. | 1.02% | 57,231 | $17.2M | Add +18.8% |
| RMBS Rambus Inc. | 0.93% | 151,560 | $15.8M | Reduce -46.7% |
| GWRE Guidewire Software Inc. | 0.87% | 64,438 | $14.8M | Reduce -1.0% |
| GH Guardant Health Inc. | 0.79% | 215,011 | $13.4M | Reduce -10.5% |
| CPAY Corpay Inc. | 0.72% | 42,557 | $12.3M | Add +0.3% |
| AAPL Apple Inc. | 0.72% | 47,701 | $12.1M | Reduce -4.3% |
| AX Axos Financial Inc. | 0.71% | 141,955 | $12.0M | Add +67.1% |
| CWST Casella Waste Systems Inc. Class A | 0.69% | 123,185 | $11.7M | New |
| GKOS Glaukos Corp. | 0.68% | 142,288 | $11.6M | Add +50.8% |
| ATRC Atricure Inc. | 0.67% | 322,080 | $11.4M | Add +2.1% |
| SPXC SPX Technologies Inc. | 0.67% | 60,778 | $11.4M | Add +24.9% |
| CECO Ceco Environmental Corp. | 0.63% | 210,032 | $10.8M | Reduce -17.1% |
| MGY Magnolia Oil & Gas Corp. Class A | 0.63% | 449,967 | $10.7M | Reduce -21.8% |
| AORT Artivion Inc. | 0.60% | 240,772 | $10.2M | Add +99.7% |
| TREX Trex Company Inc. | 0.59% | 195,296 | $10.1M | Add +26.6% |
| RGEN Repligen Corp. | 0.57% | 72,930 | $9.7M | New |
| TTAN Servicetitan Inc. Class A | 0.57% | 96,510 | $9.7M | Add +173.9% |
| LSCC Lattice Semiconductor Corp. | 0.57% | 132,225 | $9.7M | New |
| VCEL Vericel Corp. | 0.57% | 308,055 | $9.7M | Add +35.0% |
| VITL Vital Farms Inc. | 0.56% | 231,415 | $9.5M | Reduce -30.4% |
| LTH Life Time Group Holdings Inc. | 0.54% | 330,325 | $9.1M | Add +33.2% |
| MOD Modine Manufacturing Co. | 0.52% | 62,602 | $8.9M | Reduce -29.9% |
| PRCT Procept Biorobotics Corp. | 0.49% | 233,685 | $8.3M | Add +38.6% |
| WAY Waystar Holding Corp. | 0.49% | 218,610 | $8.3M | New |
| TPB Turning Point Brands Inc. | 0.49% | 83,580 | $8.3M | Add +131.8% |
| AGYS Agilysys Inc. | 0.47% | 76,505 | $8.1M | No change |
| CWAN Clearwater Analytics HDS-A | 0.47% | 446,490 | $8.0M | Add +10.9% |
| RBRK Rubrik Inc. Class A | 0.37% | 76,005 | $6.3M | Reduce -1.5% |
| ENSG The Ensign Group Inc. | 0.29% | 28,845 | $5.0M | Reduce -42.8% |
| AFRM Affirm Holdings Inc. | 0.27% | 63,519 | $4.6M | Reduce -50.7% |
| ADMA Adma Biologics Inc. | 0.27% | 309,031 | $4.5M | Add +4.2% |
| ADSK Autodesk Inc. | 0.26% | 14,000 | $4.4M | Reduce -7.0% |
| CHYM Chime Financial Inc. Class A | 0.23% | 191,190 | $3.9M | New |
| BRK.A Berkshire Hathaway Inc. Class A | 0.22% | 5 | $3.8M | No change |
| BROS Dutch Bros Inc. Class A | 0.22% | 71,341 | $3.7M | Add +17915.4% |
| LAD Lithia Motors Inc. | 0.20% | 10,914 | $3.4M | Reduce -61.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 5,653 | $2.8M | Reduce -1.6% |
| EPD Enterprise Products Partners | 0.16% | 87,815 | $2.7M | No change |
| KVYO Klaviyo Inc. Class A | 0.16% | 98,528 | $2.7M | Reduce -14.1% |
| PG The Procter & Gamble Co. | 0.16% | 17,437 | $2.7M | Reduce -0.7% |
| AMPX Amprius Technologies Inc. | 0.12% | 187,445 | $2.0M | New |
| FICO Fair Isaac Corp. | 0.11% | 1,298 | $1.9M | Reduce -0.1% |
| MTSI Macom Technology Solutions H | 0.11% | 15,265 | $1.9M | New |
| PLTR Palantir Technologies Inc. Class A | 0.10% | 9,242 | $1.7M | Reduce -2.1% |
| WDAY Workday Inc. Class A | 0.09% | 6,000 | $1.4M | No change |
| GOOGL Alphabet Inc. Class A | 0.08% | 5,795 | $1.4M | Add +4.8% |
| XOM Exxon Mobil Corp. | 0.08% | 11,435 | $1.3M | Reduce -17.2% |
| ESS Essex Property Trust Inc. | 0.06% | 4,000 | $1.1M | No change |
| UNP Union Pacific Corp. | 0.06% | 4,262 | $1.0M | No change |
| LEVI Levi Strauss & Co. Class A | 0.05% | 40,000 | $932K | Reduce -20.0% |
| ABBV Abbvie Inc. | 0.05% | 3,734 | $865K | Reduce -32.6% |
| JNJ Johnson & Johnson | 0.05% | 4,431 | $822K | No change |
| HD Home Depot Inc. | 0.03% | 1,432 | $580K | No change |
| ORCL Oracle Corp. | 0.03% | 1,845 | $519K | No change |
| AXP American Express Co. | 0.03% | 1,525 | $507K | Add +35.8% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.03% | 14,455 | $497K | No change |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.03% | 6,331 | $485K | No change |
| COST Costco Wholesale Corp. | 0.03% | 508 | $470K | Reduce -38.5% |
| ABT Abbott Laboratories | 0.03% | 3,245 | $435K | Reduce -23.7% |
| MS Morgan Stanley | 0.02% | 2,583 | $411K | Add +6.2% |
| TSLA Tesla Inc. | 0.02% | 850 | $378K | Add +13.3% |
| CR Crane Co. | 0.02% | 2,000 | $368K | No change |
| WFC Wells Fargo & Co. | 0.02% | 4,307 | $361K | Reduce -3.4% |
| MRK Merck & Co. Inc. | 0.02% | 4,183 | $351K | Reduce -10.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.02% | 2,620 | $300K | Reduce -11.6% |
| WMT Walmart Inc. | 0.02% | 2,767 | $285K | No change |
Other holdings (35): bonds, preferreds, convertibles and warrants · $519.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 70,750,000 | $69.3M | No change |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 70,305,000 | $68.7M | No change |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 59,000,000 | $59.0M | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 54,500,000 | $54.1M | New |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 54,037,000 | $53.2M | New |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 48,570,000 | $47.7M | No change |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 31,704,000 | $31.3M | New |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 28,635,000 | $28.3M | Add +90.9% |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | 27,385,000 | $27.4M | New |
| NVS Novartis AG-Sponsored ADR | SPONSORED ADR · principal | 88,677 | $11.4M | Add +0.4% |
| JAMF HOLDING CORP (JAMF 0.125 09/01/26) | NOTE 0.125% 9/0 · principal | 11,600,000 | $11.2M | No change |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 10,595,000 | $10.2M | No change |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 9,700,000 | $9.8M | No change |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 10,000,000 | $9.8M | New |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 7,750,000 | $6.9M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 6,671,000 | $6.6M | New |
| SIMO Silicon Motion Technol-ADR | SPONSORED ADR · principal | 37,960 | $3.6M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 3,000,000 | $3.0M | No change |
| SCHB Schwab US Broad Market ETF | US BRD MKT ETF · principal | 94,262 | $2.4M | Reduce -5.2% |
| VOO Vanguard S&P 500 ETF | S&P 500 ETF SHS · principal | 2,352 | $1.4M | Reduce -23.2% |
| XLK SS Technology Select Sector | ST STR TECHN ETF · principal | 2,591 | $730K | No change |
| FTGC First Trust Global Tactical | FST TR GLB FD · principal | 25,825 | $669K | Add +0.3% |
| IEFA iShares Core MSCI Eafe ETF | CORE MSCI EAFE · principal | 6,240 | $545K | Reduce -46.5% |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 0-5 HIGH YIELD · principal | 5,370 | $514K | No change |
| ISTB iShares Core 1-5 Year Usd Bo | CORE 1 5 YR USD · principal | 9,000 | $440K | No change |
| IGM iShares Expanded Tech Sector | EXPND TEC SC ETF · principal | 2,053 | $259K | No change |
| NOBL Proshares S&P 500 Dividend A | S&P 500 DV ARIST · principal | 1,999 | $206K | Reduce -15.5% |
| VXUS Vanguard Total Intl Stock | VG TL INTL STK F · principal | 2,769 | $203K | Add +0.5% |
| VIOO Vanguard S&P Small-Cap 600 E | SMLLCP 600 IDX · principal | 1,522 | $168K | No change |
| VXF Vanguard Extended Market ETF | EXTEND MKT ETF · principal | 469 | $98K | Add +0.2% |
| IBIT iShares Bitcoin Trust ETF | SHS BEN INT · principal | 1,092 | $71K | Reduce -39.9% |
| IVV iShares Core S&P 500 ETF | CORE S&P500 ETF · principal | 100 | $67K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | GROWTH ETF · principal | 135 | $65K | No change |
| GLD SPDR Gold Shares | GOLD SHS · principal | 159 | $57K | No change |
| ETHA iShares Ethereum Trust ETF | SHS · principal | 735 | $23K | New |
Total filed on the 13F, all lines: $2.2B.
Portfolio Sells Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Reduce -16.0% | 5.86% | −1.19 |
| ODFL Old Dominion Freight Line | Reduce -99.5% | 0.01% | −1.15 |
| FERG Ferguson Enterprises Inc. | Reduce -20.8% | 1.68% | −0.48 |
| TECH Bio-Techne Corp. | Sold out | 0.00% | −0.48 |
| BOOT Boot Barn Holdings Inc. | Sold out | 0.00% | −0.43 |
| ACMR Acm Research Inc. Class A | Sold out | 0.00% | −0.43 |
| VERX Vertex Inc. Class A | Sold out | 0.00% | −0.41 |
| LAD Lithia Motors Inc. | Reduce -61.8% | 0.20% | −0.40 |
| HNGE Hinge Health Inc. Class A | Sold out | 0.00% | −0.38 |
| PLMR Palomar Holdings Inc. | Sold out | 0.00% | −0.36 |
| LHX L3HARRIS Technologies Inc. | Reduce -25.7% | 2.04% | −0.33 |
| DUOL Duolingo | Sold out | 0.00% | −0.29 |
| RELY Remitly Global Inc. | Sold out | 0.00% | −0.29 |
| AFRM Affirm Holdings Inc. | Reduce -50.7% | 0.27% | −0.28 |
| KEYS Keysight Technologies Inc. | Reduce -13.7% | 1.81% | −0.26 |
| CAVA Cava Group Inc. | Sold out | 0.00% | −0.26 |
| VITL Vital Farms Inc. | Reduce -30.4% | 0.56% | −0.23 |
| RMBS Rambus Inc. | Reduce -46.7% | 0.93% | −0.20 |
| ENSG The Ensign Group Inc. | Reduce -42.8% | 0.29% | −0.19 |
| MGY Magnolia Oil & Gas Corp. Class A | Reduce -21.8% | 0.63% | −0.17 |
| IBM Intl Business Machines Corp. | Reduce -91.5% | 0.01% | −0.10 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| FSV Firstservice Corp. | Reduce -10.8% | 1.03% | −0.08 |
| KVYO Klaviyo Inc. Class A | Reduce -14.1% | 0.16% | −0.08 |
| GWRE Guidewire Software Inc. | Reduce -1.0% | 0.87% | −0.08 |
| RBRK Rubrik Inc. Class A | Reduce -1.5% | 0.37% | −0.06 |
| ADI Analog Devices Inc. | Reduce -0.5% | 2.27% | −0.05 |
| FICO Fair Isaac Corp. | Reduce -0.1% | 0.11% | −0.03 |
| ADSK Autodesk Inc. | Reduce -7.0% | 0.26% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -38.5% | 0.03% | −0.02 |
| MOD Modine Manufacturing Co. | Reduce -29.9% | 0.52% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -17.2% | 0.08% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -0.7% | 0.16% | −0.02 |
| ABBV Abbvie Inc. | Reduce -32.6% | 0.05% | −0.01 |
| ABT Abbott Laboratories | Reduce -23.7% | 0.03% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.01 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −0.01 |
| FISV Fiserv Inc. | Reduce -18.5% | 0.01% | −0.01 |
| HON Honeywell International Inc. | Reduce -31.4% | 0.01% | −0.01 |
| CVBF CVB Financial Corp. | Sold out | 0.00% | −0.01 |
| CVX Chevron Corp. | Reduce -54.7% | 0.01% | −0.01 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.01 |
| COP Conocophillips | Reduce -65.4% | 0.00% | −0.01 |
| AJG Arthur J Gallagher & Co. | Reduce -58.3% | 0.00% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.6% | 0.17% | −0.01 |
| DIS The Walt Disney Co. | Reduce -11.6% | 0.02% | −0.01 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.00 |
| CXT Crane NXT Co. | Sold out | 0.00% | −0.00 |
| ECL Ecolab Inc. | Sold out | 0.00% | −0.00 |
| HEI Heico Corp. | Reduce -20.9% | 0.01% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| LLY Eli Lilly & Co. | Add +319.9% | 2.16% | +1.61 |
| CP Canadian Pacific Kansas City | New | 1.48% | +1.48 |
| ICE Intercontinental Exchange Inc. | New | 1.24% | +1.24 |
| CWST Casella Waste Systems Inc. Class A | New | 0.69% | +0.69 |
| RGEN Repligen Corp. | New | 0.57% | +0.57 |
| LSCC Lattice Semiconductor Corp. | New | 0.57% | +0.57 |
| WAY Waystar Holding Corp. | New | 0.49% | +0.49 |
| SITM Sitime Corp. | Add +18.8% | 1.02% | +0.38 |
| AORT Artivion Inc. | Add +99.7% | 0.60% | +0.37 |
| TTAN Servicetitan Inc. Class A | Add +173.9% | 0.57% | +0.34 |
| TPB Turning Point Brands Inc. | Add +131.8% | 0.49% | +0.32 |
| AX Axos Financial Inc. | Add +67.1% | 0.71% | +0.31 |
| CHYM Chime Financial Inc. Class A | New | 0.23% | +0.23 |
| BROS Dutch Bros Inc. Class A | Add +17915.4% | 0.22% | +0.22 |
| NVDA Nvidia Corp. | Add +0.5% | 1.49% | +0.17 |
| SPXC SPX Technologies Inc. | Add +24.9% | 0.67% | +0.16 |
| AMAT Applied Materials Inc. | Add +1.2% | 2.24% | +0.16 |
| AMPX Amprius Technologies Inc. | New | 0.12% | +0.12 |
| MTSI Macom Technology Solutions H | New | 0.11% | +0.11 |
| JPM JPMorgan Chase & Co. | Add +0.4% | 2.65% | +0.10 |
| GKOS Glaukos Corp. | Add +50.8% | 0.68% | +0.08 |
| TREX Trex Company Inc. | Add +26.6% | 0.59% | +0.07 |
| BRO Brown & Brown Inc. | Add +28.3% | 2.34% | +0.07 |
| LTH Life Time Group Holdings Inc. | Add +33.2% | 0.54% | +0.07 |
| ATRC Atricure Inc. | Add +2.1% | 0.67% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +4.8% | 0.08% | +0.02 |
| PGR Progressive Corp. | Add +14.7% | 2.20% | +0.02 |
| AXP American Express Co. | Add +35.8% | 0.03% | +0.01 |
| TSLA Tesla Inc. | Add +13.3% | 0.02% | +0.01 |
| MS Morgan Stanley | Add +6.2% | 0.02% | +0.00 |
| BAC Bank of America Corp. | New | 0.00% | +0.00 |
| PANW Palo Alto Networks Inc. | Add +35.7% | 0.01% | +0.00 |
| MMM 3M Co. | New | 0.00% | +0.00 |
| MU Micron Technology Inc. | Add +205.5% | 0.00% | +0.00 |
| TMO Thermo Fisher Scientific Inc. | Add +151.4% | 0.00% | +0.00 |
| AMD Advanced Micro Devices | New | 0.00% | +0.00 |
| ULTA Ulta Beauty Inc. | New | 0.00% | +0.00 |
| NFLX Netflix Inc. | Add +20.1% | 0.01% | +0.00 |
| SOLV Solventum Corp. | New | 0.00% | +0.00 |
| PSKY Paramount Skydance Class B | New | 0.00% | +0.00 |
| PHG Koninklijke Philips NVR- NY | New | 0.00% | 0.00 |
| AME Ametek Inc. | Add +0.6% | 1.65% | −0.01 |
| BA The Boeing Co. | Add +0.8% | 1.42% | −0.02 |
| VCEL Vericel Corp. | Add +35.0% | 0.57% | −0.03 |
| META Meta Platforms Inc. Class A | Add +0.9% | 1.11% | −0.05 |
| ADMA Adma Biologics Inc. | Add +4.2% | 0.27% | −0.07 |
| TRNO Terreno Realty Corp. | Add +0.6% | 2.02% | −0.07 |
| CWAN Clearwater Analytics HDS-A | Add +10.9% | 0.47% | −0.07 |
| LAMR Lamar Advertising Co. Class A | Add +0.1% | 1.91% | −0.08 |
| AWK American Water Works Co. Inc. | Add +1.1% | 2.45% | −0.10 |
Notes & Other Activity Q2 2025 → Q3 2025
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | New | 59,000,000 | $59.0M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | New | 54,500,000 | $54.1M |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | New | 54,037,000 | $53.2M |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | Sold out | 51,943,000 | $51.8Mbefore exit |
| INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) | NOTE 0.500% 8/1 · principal | Sold out | 52,201,000 | $51.7Mbefore exit |
| LENDINGTREE INC (TREE 0.5 07/15/25) | NOTE 0.500% 7/1 · principal | Sold out | 37,142,000 | $36.9Mbefore exit |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | New | 31,704,000 | $31.3M |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | Sold out | 30,327,000 | $30.1Mbefore exit |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Add +90.9% | 28,635,000 | $28.3M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Sold out | 28,579,000 | $28.0Mbefore exit |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | New | 27,385,000 | $27.4M |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | Sold out | 17,721,000 | $17.6Mbefore exit |
| NVS Novartis AG-Sponsored ADR | SPONSORED ADR · principal | Add +0.4% | 88,677 | $11.4M |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | New | 10,000,000 | $9.8M |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | New | 6,671,000 | $6.6M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Sold out | 5,000,000 | $5.1Mbefore exit |
| SIMO Silicon Motion Technol-ADR | SPONSORED ADR · principal | New | 37,960 | $3.6M |
| SCHB Schwab US Broad Market ETF | US BRD MKT ETF · principal | Reduce -5.2% | 94,262 | $2.4M |
| VOO Vanguard S&P 500 ETF | S&P 500 ETF SHS · principal | Reduce -23.2% | 2,352 | $1.4M |
| FTGC First Trust Global Tactical | FST TR GLB FD · principal | Add +0.3% | 25,825 | $669K |
| IEFA iShares Core MSCI Eafe ETF | CORE MSCI EAFE · principal | Reduce -46.5% | 6,240 | $545K |
| NOBL Proshares S&P 500 Dividend A | S&P 500 DV ARIST · principal | Reduce -15.5% | 1,999 | $206K |
| VXUS Vanguard Total Intl Stock | VG TL INTL STK F · principal | Add +0.5% | 2,769 | $203K |
| SPY SS SPDR S&P 500 ETF Trust-US | TR UNIT · principal | Sold out | 253 | $156Kbefore exit |
| VXF Vanguard Extended Market ETF | EXTEND MKT ETF · principal | Add +0.2% | 469 | $98K |
| IBIT iShares Bitcoin Trust ETF | SHS BEN INT · principal | Reduce -39.9% | 1,092 | $71K |
| ETHA iShares Ethereum Trust ETF | SHS · principal | New | 735 | $23K |
| VDE Vanguard Energy ETF | ENERGY ETF · principal | Sold out | 34 | $4Kbefore exit |
| GRNY Fundstr Gran SH US LRG Cap | FUND GRAN US ETF · principal | Sold out | 100 | $2Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 200 | $1.8B | GOOG, AAPL, AMZN, AMAT, ADI |
| Q1 2026 | 197 | $1.6B | GOOG, AMZN, MSFT, AMAT, AVGO |
| Q4 2025 | 238 | $1.7B | GOOG, MSFT, AMZN, AVGO, V |
| Q3 2025 | 240 | $1.7B | GOOG, MSFT, AMZN, AVGO, AZO |
| Q2 2025 | 247 | $1.6B | MSFT, GOOG, AMZN, AVGO, V |
| Q1 2025Amended | 298 | $1.5B | MSFT, GOOG, AMZN, V, UNH |
| Q4 2024Amended | 157 | $1.6B | GOOG, MSFT, AMZN, V, AVGO |
| Q3 2024 | 159 | $1.7B | MSFT, GOOG, AMZN, PGR, BDX |
| Q2 2024 | 162 | $1.5B | MSFT, GOOG, AMZN, ADI, TGT |
| Q1 2024 | 160 | $1.5B | MSFT, GOOG, AMZN, TGT, MU |