Osterweis Capital Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Osterweis Capital Management Inc. reported 238 stock positions worth $1.7 billion. Its top holding was Alphabet Class C (GOOG) at 6.5% of the portfolio, followed by Microsoft (MSFT, 4.9%) and Amazon.com (AMZN, 4.4%). Compared with Q3 2025, it opened 34 new positions, sold out of 36, added to 40 and reduced 72. The biggest buy was a new position in US Foods (USFD) and the biggest sale Microsoft (MSFT, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001007524
- Portfolio Value
- $1.7B (Q4 2025)
- SEC Filing
- 0001007524-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 238 stocks · $1.7B
| GOOG Alphabet Inc. Class C | 6.46% | 359,207 | $112.7M | Reduce -18.3% |
| MSFT Microsoft Corp. | 4.90% | 176,624 | $85.4M | Reduce -7.9% |
| AMZN Amazon.com Inc. | 4.45% | 336,333 | $77.6M | Reduce -5.0% |
| AVGO Broadcom Inc. | 3.61% | 182,116 | $63.0M | Reduce -13.8% |
| V Visa Inc. Class A | 2.84% | 141,242 | $49.5M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 2.76% | 44,778 | $48.1M | Reduce -6.7% |
| JPM JPMorgan Chase & Co. | 2.57% | 138,995 | $44.8M | Reduce -2.3% |
| DHR Danaher Corp. | 2.47% | 188,105 | $43.1M | Reduce -22.0% |
| WCN Waste Connections Inc. | 2.39% | 237,665 | $41.7M | Add +11.2% |
| ADI Analog Devices Inc. | 2.36% | 151,936 | $41.2M | Reduce -3.1% |
| AWK American Water Works Co. Inc. | 2.27% | 303,095 | $39.6M | Add +1.7% |
| AMAT Applied Materials Inc. | 2.25% | 152,877 | $39.3M | Reduce -17.7% |
| AZO AutoZone Inc. | 2.20% | 11,327 | $38.4M | Reduce -2.9% |
| APD Air Products & Chemicals Inc. | 2.03% | 143,308 | $35.4M | Reduce -3.9% |
| PGR Progressive Corp. | 1.97% | 151,278 | $34.4M | Add +0.2% |
| BRO Brown & Brown Inc. | 1.94% | 425,746 | $33.9M | Add +0.5% |
| TRNO Terreno Realty Corp. | 1.94% | 575,384 | $33.8M | Reduce -4.8% |
| LAMR Lamar Advertising Co. Class A | 1.86% | 255,798 | $32.4M | Reduce -3.3% |
| LHX L3HARRIS Technologies Inc. | 1.83% | 109,070 | $32.0M | Reduce -3.8% |
| KEYS Keysight Technologies Inc. | 1.75% | 150,363 | $30.6M | Reduce -14.3% |
| USFD US Foods Holding Corp. | 1.69% | 391,536 | $29.5M | New |
| AME Ametek Inc. | 1.68% | 143,205 | $29.4M | Reduce -3.7% |
| INTU Intuit Inc. | 1.64% | 43,190 | $28.6M | Reduce -1.6% |
| ICE Intercontinental Exchange Inc. | 1.62% | 174,553 | $28.3M | Add +39.5% |
| FERG Ferguson Enterprises Inc. | 1.52% | 119,258 | $26.6M | Reduce -5.9% |
| CRM Salesforce Inc. | 1.48% | 97,748 | $25.9M | Reduce -0.8% |
| BSX Boston Scientific Corp. | 1.47% | 269,480 | $25.7M | Reduce -5.2% |
| NVDA Nvidia Corp. | 1.42% | 132,507 | $24.7M | Reduce -2.0% |
| CP Canadian Pacific Kansas City | 1.37% | 323,619 | $23.8M | Reduce -4.0% |
| BA The Boeing Co. | 1.35% | 108,701 | $23.6M | Reduce -2.4% |
| SNPS Synopsys Inc. | 1.16% | 43,251 | $20.3M | Reduce -2.3% |
| DE Deere & Co. | 1.16% | 43,534 | $20.3M | Add +3.8% |
| NVR NVR Inc. | 1.10% | 2,625 | $19.1M | New |
| LH Labcorp Holdings Inc. | 1.09% | 76,063 | $19.1M | Reduce -2.7% |
| META Meta Platforms Inc. Class A | 0.95% | 25,247 | $16.7M | Reduce -1.8% |
| FSV Firstservice Corp. | 0.91% | 102,354 | $15.9M | Add +11.8% |
| CWST Casella Waste Systems Inc. Class A | 0.90% | 160,735 | $15.7M | Add +30.5% |
| GH Guardant Health Inc. | 0.80% | 135,936 | $13.9M | Reduce -36.8% |
| CECO Ceco Environmental Corp. | 0.77% | 223,682 | $13.4M | Add +6.5% |
| CPAY Corpay Inc. | 0.75% | 43,422 | $13.1M | Add +2.0% |
| LTH Life Time Group Holdings Inc. | 0.74% | 482,665 | $12.8M | Add +46.1% |
| TTAN Servicetitan Inc. Class A | 0.71% | 117,055 | $12.5M | Add +21.3% |
| AAPL Apple Inc. | 0.71% | 45,788 | $12.4M | Reduce -4.0% |
| AX Axos Financial Inc. | 0.70% | 142,685 | $12.3M | Add +0.5% |
| NOVT Novanta Inc. | 0.69% | 101,695 | $12.1M | New |
| MOD Modine Manufacturing Co. | 0.68% | 89,222 | $11.9M | Add +42.5% |
| LSCC Lattice Semiconductor Corp. | 0.68% | 160,565 | $11.8M | Add +21.4% |
| VCEL Vericel Corp. | 0.67% | 322,975 | $11.6M | Add +4.8% |
| GKOS Glaukos Corp. | 0.66% | 101,613 | $11.5M | Reduce -28.6% |
| SITM Sitime Corp. | 0.62% | 30,698 | $10.8M | Reduce -46.4% |
| VITL Vital Farms Inc. | 0.61% | 335,630 | $10.7M | Add +45.0% |
| CHYM Chime Financial Inc. Class A | 0.61% | 422,350 | $10.6M | Add +120.9% |
| MTSI Macom Technology Solutions H | 0.60% | 60,970 | $10.4M | Add +299.4% |
| AORT Artivion Inc. | 0.58% | 220,727 | $10.1M | Reduce -8.3% |
| SPXC SPX Technologies Inc. | 0.55% | 48,130 | $9.6M | Reduce -20.8% |
| TPB Turning Point Brands Inc. | 0.53% | 84,555 | $9.2M | Add +1.2% |
| RGEN Repligen Corp. | 0.51% | 54,635 | $9.0M | Reduce -25.1% |
| HURN Huron Consulting Group Inc. | 0.48% | 48,660 | $8.4M | New |
| VSEC Vse Corp. | 0.48% | 48,460 | $8.4M | New |
| WAY Waystar Holding Corp. | 0.48% | 253,275 | $8.3M | Add +15.9% |
| RMBS Rambus Inc. | 0.47% | 89,065 | $8.2M | Reduce -41.2% |
| TWST Twist Bioscience Corp. | 0.47% | 256,878 | $8.1M | New |
| ATRC Atricure Inc. | 0.46% | 203,575 | $8.1M | Reduce -36.8% |
| HNGE Hinge Health Inc. Class A | 0.46% | 172,260 | $8.0M | New |
| TWLO Twilio Inc. Class A | 0.45% | 55,215 | $7.9M | New |
| PLMR Palomar Holdings Inc. | 0.44% | 57,510 | $7.8M | New |
| GWRE Guidewire Software Inc. | 0.43% | 37,644 | $7.6M | Reduce -41.6% |
| PRCT Procept Biorobotics Corp. | 0.43% | 237,480 | $7.5M | Add +1.6% |
| MGY Magnolia Oil & Gas Corp. Class A | 0.41% | 325,647 | $7.1M | Reduce -27.6% |
| CAVA Cava Group Inc. | 0.29% | 87,415 | $5.1M | New |
| AGYS Agilysys Inc. | 0.27% | 39,420 | $4.7M | Reduce -48.5% |
| NXT Nextpower Inc. | 0.24% | 48,250 | $4.2M | New |
| ADSK Autodesk Inc. | 0.24% | 14,000 | $4.1M | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 0.22% | 5 | $3.8M | No change |
| AMPX Amprius Technologies Inc. | 0.21% | 454,830 | $3.6M | Add +142.7% |
| AFRM Affirm Holdings Inc. | 0.20% | 46,209 | $3.4M | Reduce -27.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 5,805 | $2.9M | Add +2.7% |
| EPD Enterprise Products Partners | 0.16% | 87,815 | $2.8M | No change |
| PG The Procter & Gamble Co. | 0.14% | 17,146 | $2.5M | Reduce -1.7% |
| BRZE Braze Inc. Class A | 0.14% | 69,305 | $2.4M | New |
| FICO Fair Isaac Corp. | 0.13% | 1,292 | $2.2M | Reduce -0.5% |
| GOOGL Alphabet Inc. Class A | 0.11% | 6,098 | $1.9M | Add +5.2% |
| CDNL Cardinal Infrastructure GR-A | 0.11% | 76,225 | $1.8M | New |
| PLTR Palantir Technologies Inc. Class A | 0.09% | 9,202 | $1.6M | Reduce -0.4% |
| XOM Exxon Mobil Corp. | 0.07% | 10,797 | $1.3M | Reduce -5.6% |
| WDAY Workday Inc. Class A | 0.07% | 6,000 | $1.3M | No change |
| ESS Essex Property Trust Inc. | 0.06% | 4,000 | $1.0M | No change |
| UNP Union Pacific Corp. | 0.06% | 4,259 | $985K | Reduce -0.1% |
| JNJ Johnson & Johnson | 0.05% | 4,510 | $933K | Add +1.8% |
| ABBV Abbvie Inc. | 0.05% | 3,751 | $857K | Add +0.5% |
| AXP American Express Co. | 0.03% | 1,525 | $564K | No change |
| LEVI Levi Strauss & Co. Class A | 0.03% | 25,000 | $519K | Reduce -37.5% |
| MRK Merck & Co. Inc. | 0.03% | 4,431 | $466K | Add +5.9% |
| TSLA Tesla Inc. | 0.03% | 1,034 | $465K | Add +21.6% |
| HD Home Depot Inc. | 0.03% | 1,346 | $463K | Reduce -6.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.03% | 6,331 | $444K | No change |
| COST Costco Wholesale Corp. | 0.02% | 489 | $422K | Reduce -3.7% |
| ABT Abbott Laboratories | 0.02% | 3,352 | $420K | Add +3.3% |
| MS Morgan Stanley | 0.02% | 2,278 | $404K | Reduce -11.8% |
| WFC Wells Fargo & Co. | 0.02% | 4,307 | $401K | No change |
Other holdings (47): bonds, preferreds, convertibles and warrants · $617.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 76,750,000 | $76.1M | Add +8.5% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 75,804,000 | $75.7M | New |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 71,011,000 | $70.9M | New |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 70,537,000 | $70.3M | Add +30.5% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 70,305,000 | $69.4M | No change |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 68,500,000 | $67.8M | Add +585.0% |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 48,570,000 | $48.2M | No change |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 41,704,000 | $41.7M | Add +31.5% |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 41,165,000 | $41.3M | Add +43.8% |
| NVS Novartis AG-Sponsored ADR | SPONSORED ADR · principal | 87,683 | $12.1M | Reduce -1.1% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 10,595,000 | $10.4M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 8,871,000 | $8.6M | Add +33.0% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 7,750,000 | $6.9M | No change |
| SIMO Silicon Motion Technol-ADR | SPONSORED ADR · principal | 56,335 | $5.2M | Add +48.4% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 4,085,000 | $4.2M | Reduce -57.9% |
| SCHB Schwab US Broad Market ETF | US BRD MKT ETF · principal | 90,152 | $2.4M | Reduce -4.4% |
| VOO Vanguard S&P 500 ETF | S&P 500 ETF SHS · principal | 2,283 | $1.4M | Reduce -2.9% |
| XLK SS Technology Select Sector | ST STR TECHN ETF · principal | 5,182 | $746K | No change |
| FTGC First Trust Global Tactical | FST TR GLB FD · principal | 27,878 | $648K | Add +8.0% |
| IEFA iShares Core MSCI Eafe ETF | CORE MSCI EAFE · principal | 6,240 | $558K | No change |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 0-5 HIGH YIELD · principal | 5,370 | $509K | No change |
| ISTB iShares Core 1-5 Year Usd Bo | CORE 1 5 YR USD · principal | 9,000 | $439K | No change |
| BIL SS SPDR BB 1-3M T-Bill ETF | ST STR BLO 1 ETF · principal | 3,365 | $307K | New |
| IGM iShares Expanded Tech Sector | EXPND TEC SC ETF · principal | 1,889 | $244K | Reduce -8.0% |
| VXUS Vanguard Total Intl Stock | VG TL INTL STK F · principal | 2,819 | $213K | Add +1.8% |
| NOBL Proshares S&P 500 Dividend A | S&P 500 DV ARIST · principal | 2,001 | $208K | Add +0.1% |
| VIOO Vanguard S&P Small-Cap 600 E | SMLLCP 600 IDX · principal | 1,542 | $171K | Add +1.3% |
| VGSH Vanguard Short-Term Treasury | SHORT TERM TREAS · principal | 2,852 | $167K | New |
| TSM Taiwan Semiconductor-SP ADR | SPONSORED ADS · principal | 473 | $144K | New |
| VXF Vanguard Extended Market ETF | EXTEND MKT ETF · principal | 471 | $98K | Add +0.4% |
| KWEB Kranesh Csi China Internet | CSI CHI INTERNET · principal | 2,291 | $78K | New |
| VUG Vanguard Mrngstar GR ETF-Sui | GROWTH ETF · principal | 143 | $70K | Add +5.9% |
| IVV iShares Core S&P 500 ETF | CORE S&P500 ETF · principal | 100 | $68K | No change |
| GLD SPDR Gold Shares | GOLD SHS · principal | 159 | $63K | No change |
| AZN Astrazeneca PLC-Spons ADR | COM · principal | 560 | $51K | New |
| IBIT iShares Bitcoin Trust ETF | SHS BEN INT · principal | 942 | $47K | Reduce -13.7% |
| BP BP PLC-Spons ADR | SPONSORED ADR · principal | 1,057 | $37K | New |
| SONY Sony Group Corp. - SP ADR | SPONSORED ADR · principal | 1,078 | $28K | New |
| UL Unilever PLC-Sponsored ADR | SPON ADR NEW · principal | 356 | $23K | New |
| ING ING Groep N.V.-Sponsored ADR | SPONSORED ADR · principal | 740 | $21K | New |
| BCS Barclays PLC-Spons ADR | ADR · principal | 687 | $17K | New |
| ETHA iShares Ethereum Trust ETF | SHS · principal | 735 | $16K | No change |
| HSBC HSBC Holdings PLC-Spons ADR | SPON ADR NEW · principal | 191 | $15K | New |
| MUFG Mitsubishi Ufj Finl-Spon ADR | SPONSORED ADS · principal | 947 | $15K | New |
| SHEL Shell PLC-ADR | SPON ADS · principal | 201 | $15K | New |
| LYG Lloyds Banking Group PLC-ADR | SPONSORED ADR · principal | 2,532 | $13K | New |
| GSK GSK PLC-Spon ADR | SPONSORED ADR · principal | 243 | $12K | New |
Total filed on the 13F, all lines: $2.4B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -7.9% | 4.90% | −0.96 |
| AZO AutoZone Inc. | Reduce -2.9% | 2.20% | −0.75 |
| TREX Trex Company Inc. | Sold out | 0.00% | −0.59 |
| AVGO Broadcom Inc. | Reduce -13.8% | 3.61% | −0.50 |
| CWAN Clearwater Analytics HDS-A | Sold out | 0.00% | −0.47 |
| RMBS Rambus Inc. | Reduce -41.2% | 0.47% | −0.46 |
| GWRE Guidewire Software Inc. | Reduce -41.6% | 0.43% | −0.44 |
| SITM Sitime Corp. | Reduce -46.4% | 0.62% | −0.40 |
| RBRK Rubrik Inc. Class A | Sold out | 0.00% | −0.37 |
| APD Air Products & Chemicals Inc. | Reduce -3.9% | 2.03% | −0.37 |
| DHR Danaher Corp. | Reduce -22.0% | 2.47% | −0.35 |
| ENSG The Ensign Group Inc. | Sold out | 0.00% | −0.29 |
| ADMA Adma Biologics Inc. | Sold out | 0.00% | −0.27 |
| LH Labcorp Holdings Inc. | Reduce -2.7% | 1.09% | −0.23 |
| MGY Magnolia Oil & Gas Corp. Class A | Reduce -27.6% | 0.41% | −0.22 |
| BROS Dutch Bros Inc. Class A | Reduce -99.4% | 0.00% | −0.22 |
| ATRC Atricure Inc. | Reduce -36.8% | 0.46% | −0.21 |
| AGYS Agilysys Inc. | Reduce -48.5% | 0.27% | −0.21 |
| LHX L3HARRIS Technologies Inc. | Reduce -3.8% | 1.83% | −0.21 |
| LAD Lithia Motors Inc. | Sold out | 0.00% | −0.20 |
| BSX Boston Scientific Corp. | Reduce -5.2% | 1.47% | −0.16 |
| KVYO Klaviyo Inc. Class A | Sold out | 0.00% | −0.16 |
| META Meta Platforms Inc. Class A | Reduce -1.8% | 0.95% | −0.16 |
| FERG Ferguson Enterprises Inc. | Reduce -5.9% | 1.52% | −0.16 |
| AMZN Amazon.com Inc. | Reduce -5.0% | 4.45% | −0.14 |
| INTU Intuit Inc. | Reduce -1.6% | 1.64% | −0.13 |
| SNPS Synopsys Inc. | Reduce -2.3% | 1.16% | −0.12 |
| SPXC SPX Technologies Inc. | Reduce -20.8% | 0.55% | −0.12 |
| CP Canadian Pacific Kansas City | Reduce -4.0% | 1.37% | −0.12 |
| TRNO Terreno Realty Corp. | Reduce -4.8% | 1.94% | −0.09 |
| JPM JPMorgan Chase & Co. | Reduce -2.3% | 2.57% | −0.08 |
| AFRM Affirm Holdings Inc. | Reduce -27.3% | 0.20% | −0.08 |
| NVDA Nvidia Corp. | Reduce -2.0% | 1.42% | −0.07 |
| BA The Boeing Co. | Reduce -2.4% | 1.35% | −0.06 |
| RGEN Repligen Corp. | Reduce -25.1% | 0.51% | −0.06 |
| KEYS Keysight Technologies Inc. | Reduce -14.3% | 1.75% | −0.06 |
| LAMR Lamar Advertising Co. Class A | Reduce -3.3% | 1.86% | −0.05 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.03 |
| GKOS Glaukos Corp. | Reduce -28.6% | 0.66% | −0.03 |
| LEVI Levi Strauss & Co. Class A | Reduce -37.5% | 0.03% | −0.03 |
| AORT Artivion Inc. | Reduce -8.3% | 0.58% | −0.02 |
| V Visa Inc. Class A | Reduce -0.6% | 2.84% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -1.7% | 0.14% | −0.02 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.01 |
| FISV Fiserv Inc. | Reduce -56.9% | 0.00% | −0.01 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −0.01 |
| CR Crane Co. | Reduce -33.8% | 0.01% | −0.01 |
| HD Home Depot Inc. | Reduce -6.0% | 0.03% | −0.01 |
| DIS The Walt Disney Co. | Reduce -38.9% | 0.01% | −0.01 |
| PLTR Palantir Technologies Inc. Class A | Reduce -0.4% | 0.09% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| USFD US Foods Holding Corp. | New | 1.69% | +1.69 |
| NVR NVR Inc. | New | 1.10% | +1.10 |
| NOVT Novanta Inc. | New | 0.69% | +0.69 |
| MTSI Macom Technology Solutions H | Add +299.4% | 0.60% | +0.49 |
| HURN Huron Consulting Group Inc. | New | 0.48% | +0.48 |
| VSEC Vse Corp. | New | 0.48% | +0.48 |
| TWST Twist Bioscience Corp. | New | 0.47% | +0.47 |
| HNGE Hinge Health Inc. Class A | New | 0.46% | +0.46 |
| TWLO Twilio Inc. Class A | New | 0.45% | +0.45 |
| PLMR Palomar Holdings Inc. | New | 0.44% | +0.44 |
| CHYM Chime Financial Inc. Class A | Add +120.9% | 0.61% | +0.38 |
| ICE Intercontinental Exchange Inc. | Add +39.5% | 1.62% | +0.38 |
| CAVA Cava Group Inc. | New | 0.29% | +0.29 |
| NXT Nextpower Inc. | New | 0.24% | +0.24 |
| CWST Casella Waste Systems Inc. Class A | Add +30.5% | 0.90% | +0.21 |
| LTH Life Time Group Holdings Inc. | Add +46.1% | 0.74% | +0.20 |
| WCN Waste Connections Inc. | Add +11.2% | 2.39% | +0.17 |
| MOD Modine Manufacturing Co. | Add +42.5% | 0.68% | +0.16 |
| TTAN Servicetitan Inc. Class A | Add +21.3% | 0.71% | +0.14 |
| BRZE Braze Inc. Class A | New | 0.14% | +0.14 |
| CECO Ceco Environmental Corp. | Add +6.5% | 0.77% | +0.13 |
| CDNL Cardinal Infrastructure GR-A | New | 0.11% | +0.11 |
| LSCC Lattice Semiconductor Corp. | Add +21.4% | 0.68% | +0.11 |
| VCEL Vericel Corp. | Add +4.8% | 0.67% | +0.10 |
| AMPX Amprius Technologies Inc. | Add +142.7% | 0.21% | +0.09 |
| VITL Vital Farms Inc. | Add +45.0% | 0.61% | +0.05 |
| TPB Turning Point Brands Inc. | Add +1.2% | 0.53% | +0.04 |
| DE Deere & Co. | Add +3.8% | 1.16% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +5.2% | 0.11% | +0.03 |
| CPAY Corpay Inc. | Add +2.0% | 0.75% | +0.03 |
| NN Nextnav Inc. | New | 0.01% | +0.01 |
| MRK Merck & Co. Inc. | Add +5.9% | 0.03% | +0.01 |
| AEM Agnico Eagle Mines Ltd. | New | 0.01% | +0.01 |
| RBC RBC Bearings Inc. | New | 0.01% | +0.01 |
| JNJ Johnson & Johnson | Add +1.8% | 0.05% | +0.01 |
| AB Alliancebernstein Holding LP | New | 0.00% | +0.00 |
| QXO Qxo Inc. | New | 0.00% | +0.00 |
| TSLA Tesla Inc. | Add +21.6% | 0.03% | +0.00 |
| SPRY Ars Pharmaceuticals Inc. | New | 0.00% | +0.00 |
| PPTA Perpetua Resources Corp. | New | 0.00% | +0.00 |
| UBER Uber Technologies Inc. | Add +114.5% | 0.01% | +0.00 |
| C Citigroup Inc. | Add +40.5% | 0.01% | +0.00 |
| ISRG Intuitive Surgical Inc. | Add +8.2% | 0.01% | +0.00 |
| CAT Caterpillar Inc. | New | 0.00% | +0.00 |
| PTC PTC Inc. | New | 0.00% | +0.00 |
| WMT Walmart Inc. | Add +11.0% | 0.02% | +0.00 |
| IDA Idacorp Inc. | New | 0.00% | +0.00 |
| COLB Columbia Banking System Inc. | New | 0.00% | +0.00 |
| GS Goldman Sachs Group Inc. | New | 0.00% | +0.00 |
| BXSL Blackstone Secured Lending F | New | 0.00% | +0.00 |
Notes & Other Activity Q3 2025 → Q4 2025
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Add +8.5% | 76,750,000 | $76.1M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | New | 75,804,000 | $75.7M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | New | 71,011,000 | $70.9M |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | Add +30.5% | 70,537,000 | $70.3M |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Add +585.0% | 68,500,000 | $67.8M |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | Sold out | 59,000,000 | $59.0Mbefore exit |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 54,500,000 | $54.1Mbefore exit |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Add +31.5% | 41,704,000 | $41.7M |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Add +43.8% | 41,165,000 | $41.3M |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | Sold out | 27,385,000 | $27.4Mbefore exit |
| NVS Novartis AG-Sponsored ADR | SPONSORED ADR · principal | Reduce -1.1% | 87,683 | $12.1M |
| JAMF HOLDING CORP (JAMF 0.125 09/01/26) | NOTE 0.125% 9/0 · principal | Sold out | 11,600,000 | $11.2Mbefore exit |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Add +33.0% | 8,871,000 | $8.6M |
| SIMO Silicon Motion Technol-ADR | SPONSORED ADR · principal | Add +48.4% | 56,335 | $5.2M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Reduce -57.9% | 4,085,000 | $4.2M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 3,000,000 | $3.0Mbefore exit |
| SCHB Schwab US Broad Market ETF | US BRD MKT ETF · principal | Reduce -4.4% | 90,152 | $2.4M |
| VOO Vanguard S&P 500 ETF | S&P 500 ETF SHS · principal | Reduce -2.9% | 2,283 | $1.4M |
| FTGC First Trust Global Tactical | FST TR GLB FD · principal | Add +8.0% | 27,878 | $648K |
| BIL SS SPDR BB 1-3M T-Bill ETF | ST STR BLO 1 ETF · principal | New | 3,365 | $307K |
| IGM iShares Expanded Tech Sector | EXPND TEC SC ETF · principal | Reduce -8.0% | 1,889 | $244K |
| VXUS Vanguard Total Intl Stock | VG TL INTL STK F · principal | Add +1.8% | 2,819 | $213K |
| NOBL Proshares S&P 500 Dividend A | S&P 500 DV ARIST · principal | Add +0.1% | 2,001 | $208K |
| VIOO Vanguard S&P Small-Cap 600 E | SMLLCP 600 IDX · principal | Add +1.3% | 1,542 | $171K |
| VGSH Vanguard Short-Term Treasury | SHORT TERM TREAS · principal | New | 2,852 | $167K |
| TSM Taiwan Semiconductor-SP ADR | SPONSORED ADS · principal | New | 473 | $144K |
| VXF Vanguard Extended Market ETF | EXTEND MKT ETF · principal | Add +0.4% | 471 | $98K |
| KWEB Kranesh Csi China Internet | CSI CHI INTERNET · principal | New | 2,291 | $78K |
| VUG Vanguard Mrngstar GR ETF-Sui | GROWTH ETF · principal | Add +5.9% | 143 | $70K |
| AZN Astrazeneca PLC-Spons ADR | COM · principal | New | 560 | $51K |
| IBIT iShares Bitcoin Trust ETF | SHS BEN INT · principal | Reduce -13.7% | 942 | $47K |
| BP BP PLC-Spons ADR | SPONSORED ADR · principal | New | 1,057 | $37K |
| SONY Sony Group Corp. - SP ADR | SPONSORED ADR · principal | New | 1,078 | $28K |
| UL Unilever PLC-Sponsored ADR | SPON ADR NEW · principal | New | 356 | $23K |
| ING ING Groep N.V.-Sponsored ADR | SPONSORED ADR · principal | New | 740 | $21K |
| BCS Barclays PLC-Spons ADR | ADR · principal | New | 687 | $17K |
| HSBC HSBC Holdings PLC-Spons ADR | SPON ADR NEW · principal | New | 191 | $15K |
| MUFG Mitsubishi Ufj Finl-Spon ADR | SPONSORED ADS · principal | New | 947 | $15K |
| SHEL Shell PLC-ADR | SPON ADS · principal | New | 201 | $15K |
| LYG Lloyds Banking Group PLC-ADR | SPONSORED ADR · principal | New | 2,532 | $13K |
| GSK GSK PLC-Spon ADR | SPONSORED ADR · principal | New | 243 | $12K |
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 |