Royal Bank of Canada
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed November 21, 2025), Royal Bank of Canada reported 6,597 stock positions worth $513.3 billion. Its top holding was Microsoft (MSFT) at 3.7% of the portfolio, followed by Nvidia (NVDA, 2.9%) and Amazon.com (AMZN, 2.4%). Compared with Q1 2025, it opened 423 new positions, sold out of 252, added to 3,856 and reduced 2,030. The biggest buy was Nvidia (NVDA, shares +4%) and the biggest sale Apple (AAPL, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001000275
- Portfolio Value
- $513.3B (Q2 2025)
- SEC Filing
- 0001140361-25-042957 ↗ filed Nov 21, 2025
Holdings Value
Holdings 6,597 stocks · $513.3B
| MSFT Microsoft Corp. | 3.69% | 38,056,095 | $18.9B | Reduce -0.5% |
| NVDA Nvidia Corp. | 2.94% | 95,533,929 | $15.1B | Add +3.7% |
| AMZN Amazon.com Inc. | 2.43% | 56,936,237 | $12.5B | Add +4.4% |
| AAPL Apple Inc. | 2.42% | 60,615,088 | $12.4B | Reduce -4.2% |
| TD Toronto-Dominion Bank | 2.07% | 144,644,206 | $10.6B | Reduce -7.8% |
| RY Royal Bank of Canada | 1.88% | 73,176,242 | $9.6B | Add +1.4% |
| IVV iShares Core S&P 500 ETF | 1.61% | 13,311,281 | $8.3B | Add +1.5% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.41% | 65,483,432 | $7.2B | Add +13.7% |
| JPM JPMorgan Chase & Co. | 1.29% | 22,766,452 | $6.6B | Reduce -2.5% |
| TRP TC Energy Corp. | 1.21% | 127,375,528 | $6.2B | Add +39.5% |
| ENB Enbridge Inc. | 1.20% | 135,594,463 | $6.1B | Add +16.3% |
| AVGO Broadcom Inc. | 1.18% | 21,921,947 | $6.0B | Add +4.7% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.16% | 107,710,257 | $6.0B | Add +8.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.14% | 9,488,562 | $5.9B | Reduce -13.2% |
| META Meta Platforms Inc. Class A | 1.14% | 7,899,314 | $5.8B | Reduce -4.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 1.08% | 77,972,712 | $5.5B | Reduce -3.3% |
| GOOGL Alphabet Inc. Class A | 1.04% | 30,168,229 | $5.3B | Add +1.8% |
| MFC Manulife Financial Corp. | 1.02% | 163,392,137 | $5.2B | Add +10.5% |
| BN Brookfield Corp. | 0.97% | 80,555,118 | $5.0B | Add +0.4% |
| V Visa Inc. Class A | 0.90% | 13,063,915 | $4.6B | Reduce -1.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.88% | 9,264,583 | $4.5B | Reduce -4.6% |
| CP Canadian Pacific Kansas City | 0.84% | 54,530,925 | $4.3B | Add +2.9% |
| GOOG Alphabet Inc. Class C | 0.77% | 22,300,006 | $4.0B | Reduce -7.0% |
| CNQ Canadian Natural Resources | 0.74% | 121,238,062 | $3.8B | Reduce -19.6% |
| COST Costco Wholesale Corp. | 0.74% | 3,840,297 | $3.8B | Add +0.2% |
| HD Home Depot Inc. | 0.69% | 9,673,950 | $3.5B | Reduce -1.6% |
| SLF Sun Life Financial Inc. | 0.67% | 51,572,987 | $3.4B | Add +15.2% |
| TU Telus Corp. | 0.63% | 200,857,749 | $3.2B | Add +23.6% |
| CVX Chevron Corp. | 0.60% | 21,489,187 | $3.1B | Add +106.8% |
| LLY Eli Lilly & Co. | 0.58% | 3,833,199 | $3.0B | Add +0.8% |
| CNI Canadian Natl Railway Co. | 0.57% | 28,151,647 | $2.9B | Add +4.5% |
| MA Mastercard Inc. Class A | 0.55% | 4,983,319 | $2.8B | Reduce -2.2% |
| NFLX Netflix Inc. | 0.51% | 1,968,793 | $2.6B | Reduce -14.6% |
| PG The Procter & Gamble Co. | 0.50% | 16,125,008 | $2.6B | Reduce -6.7% |
| UNH Unitedhealth Group Inc. | 0.48% | 7,928,348 | $2.5B | Reduce -8.3% |
| SHOP Shopify Inc. Class A | 0.48% | 21,269,888 | $2.5B | Add +8.8% |
| VEA Vanguard Ftse Developed ETF | 0.47% | 42,455,981 | $2.4B | Add +3.1% |
| WMT Walmart Inc. | 0.46% | 24,258,068 | $2.4B | Add +3.9% |
| VOO Vanguard S&P 500 ETF | 0.46% | 4,147,081 | $2.4B | Add +25.4% |
| SU Suncor Energy Inc. | 0.45% | 61,356,252 | $2.3B | Reduce -14.7% |
| TRI Thomson Reuters Corp. | 0.44% | 11,188,389 | $2.3B | Reduce -4.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.44% | 4,051,118 | $2.2B | Add +4.3% |
| JNJ Johnson & Johnson | 0.42% | 14,239,136 | $2.2B | Reduce -4.8% |
| MCD McDonald's Corp. | 0.41% | 7,247,612 | $2.1B | Add +6.3% |
| WCN Waste Connections Inc. | 0.41% | 11,193,256 | $2.1B | Add +5.4% |
| PBA Pembina Pipeline Corp. | 0.40% | 54,661,523 | $2.1B | Add +32.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.38% | 41,056,581 | $1.9B | Reduce -7.0% |
| XOM Exxon Mobil Corp. | 0.37% | 17,704,769 | $1.9B | Reduce -3.9% |
| KO The Coca-Cola Co. | 0.37% | 26,786,503 | $1.9B | Reduce -0.7% |
| NTR Nutrien Ltd. | 0.37% | 32,479,619 | $1.9B | Reduce -13.1% |
| AEM Agnico Eagle Mines Ltd. | 0.35% | 15,304,094 | $1.8B | Reduce -0.4% |
| TSLA Tesla Inc. | 0.35% | 5,577,527 | $1.8B | Reduce -15.5% |
| CSCO Cisco Systems Inc. | 0.34% | 25,032,660 | $1.7B | Reduce -4.1% |
| HON Honeywell International Inc. | 0.34% | 7,422,437 | $1.7B | Add +3.9% |
| CRM Salesforce Inc. | 0.34% | 6,316,826 | $1.7B | Reduce -3.6% |
| ABBV Abbvie Inc. | 0.34% | 9,266,467 | $1.7B | Add +4.9% |
| ICE Intercontinental Exchange Inc. | 0.33% | 9,112,425 | $1.7B | Add +2.8% |
| ORCL Oracle Corp. | 0.32% | 7,564,653 | $1.7B | Add +43.1% |
| IJH iShares Core S&P Midcap ETF | 0.32% | 26,588,226 | $1.6B | Add +15.4% |
| TXN Texas Instruments Inc. | 0.31% | 7,650,330 | $1.6B | Reduce -22.7% |
| BIP Brookfield Infrastructure Pa | 0.30% | 46,065,523 | $1.5B | Add +9.4% |
| PANW Palo Alto Networks Inc. | 0.30% | 7,465,354 | $1.5B | Add +18.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.30% | 12,280,476 | $1.5B | Add +3.6% |
| INTU Intuit Inc. | 0.29% | 1,914,570 | $1.5B | Reduce -2.7% |
| FTS Fortis Inc. | 0.29% | 30,859,694 | $1.5B | Add +10.4% |
| ACN Accenture PLC Class A | 0.28% | 4,862,764 | $1.5B | Reduce -4.3% |
| BX Blackstone Inc. | 0.28% | 9,626,721 | $1.4B | Add +14.4% |
| BLK BlackRock Inc. | 0.28% | 1,363,015 | $1.4B | Add +3.8% |
| QSR Restaurant Brands Intern | 0.27% | 21,107,913 | $1.4B | Reduce -6.7% |
| UNP Union Pacific Corp. | 0.27% | 6,039,998 | $1.4B | Add +18.3% |
| TMO Thermo Fisher Scientific Inc. | 0.26% | 3,316,154 | $1.3B | Add +2.8% |
| NEE Nextera Energy Inc. | 0.26% | 19,350,070 | $1.3B | Reduce -4.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.26% | 4,477,335 | $1.3B | Add +7.6% |
| MS Morgan Stanley | 0.26% | 9,341,223 | $1.3B | Reduce -0.5% |
| AZO AutoZone Inc. | 0.26% | 353,748 | $1.3B | Reduce -6.5% |
| APH Amphenol Corp. Class A | 0.25% | 13,146,884 | $1.3B | Add +1.0% |
| NOW ServiceNow Inc. | 0.25% | 1,254,212 | $1.3B | Add +7.7% |
| AMGN Amgen Inc. | 0.25% | 4,536,539 | $1.3B | Reduce -7.1% |
| BCE Bce Inc. | 0.24% | 56,089,427 | $1.2B | Add +0.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.24% | 5,487,453 | $1.2B | Add +7.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 9,836,479 | $1.2B | Reduce -12.8% |
| IWM iShares Russell 2000 ETF | 0.24% | 5,634,304 | $1.2B | Add +15.6% |
| BAM Brookfield Asset Mgmt-A | 0.23% | 21,635,508 | $1.2B | Add +15.7% |
| ADBE Adobe Inc. | 0.23% | 3,085,377 | $1.2B | Reduce -0.6% |
| UBER Uber Technologies Inc. | 0.23% | 12,750,896 | $1.2B | Add +7.4% |
| CB Chubb Ltd. | 0.23% | 4,096,047 | $1.2B | Add +0.8% |
| GS Goldman Sachs Group Inc. | 0.23% | 1,671,333 | $1.2B | Add +2.1% |
| ISRG Intuitive Surgical Inc. | 0.22% | 2,080,680 | $1.1B | Add +28.4% |
| TMUS T-Mobile US Inc. | 0.22% | 4,688,781 | $1.1B | Reduce -12.9% |
| MCK McKesson Corp. | 0.21% | 1,503,961 | $1.1B | Reduce -17.6% |
| T AT&T Inc. | 0.21% | 37,861,927 | $1.1B | Reduce -7.1% |
| HDB HDFC Bank Ltd.-ADR | 0.21% | 14,289,031 | $1.1B | Add +27.4% |
| VZ Verizon Communications Inc. | 0.21% | 25,168,689 | $1.1B | Add +8.8% |
| MRK Merck & Co. Inc. | 0.21% | 13,553,140 | $1.1B | Reduce -4.4% |
| WMB Williams Cos Inc. | 0.20% | 16,543,926 | $1.0B | Add +5.5% |
| PM Philip Morris International | 0.20% | 5,670,576 | $1.0B | Reduce -4.3% |
| VCIT Vanguard Int-Term Corporate | 0.20% | 12,123,900 | $1.0B | Add +5.7% |
| C Citigroup Inc. | 0.20% | 11,760,350 | $1.0B | Reduce -0.9% |
| DUK Duke Energy Corp. | 0.19% | 8,354,023 | $985.8M | Reduce -6.4% |
| SYK Stryker Corp. | 0.19% | 2,465,317 | $975.4M | Add +16.9% |
Options reported separately and not counted above: SPY puts ($8.5B), SPY calls ($8.4B), IWM puts ($2.9B), QQQ puts ($2.2B), IWM calls ($1.6B), QQQ calls ($1.2B), BNS puts ($929.5M), NVDA puts ($830.9M), XLE puts ($646.8M), BMO puts ($557.6M), NVDA calls ($531.3M), MSFT calls ($513.0M), and 374 more.
Other holdings (189): bonds, preferreds, convertibles and warrants · $494.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 51,003,000 | $50.8M | Add +619.4% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 19,173,000 | $25.0M | New |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 20,101,000 | $24.1M | Reduce -12.5% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 14,225,000 | $21.7M | Reduce -7.3% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 16,240,000 | $20.6M | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 17,078,000 | $18.9M | Add +4.7% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 17,470,500 | $17.8M | Add +4.0% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 11,280,000 | $17.4M | Reduce -25.1% |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 14,000,000 | $13.9M | No change |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 12,941,000 | $12.7M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 11,025,000 | $11.1M | Reduce -16.3% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 11,080,000 | $10.8M | Add +141.4% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 8,942,000 | $8.9M | Add +257.7% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 8,579,000 | $8.3M | Add +6.2% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 8,114,000 | $7.7M | Reduce -3.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 7,646,000 | $7.4M | Add +39.2% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 6,937,000 | $7.3M | Add +16.2% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 6,583,000 | $6.5M | New |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 6,181,000 | $6.3M | Add +112.6% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 4,038,000 | $6.2M | Add +171.4% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 6,134,000 | $6.1M | Add +105.8% |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 5,715,000 | $5.6M | Reduce -45.2% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 4,155,000 | $5.5M | Reduce -19.4% |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 3,000,000 | $5.3M | Reduce -40.0% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 4,950,000 | $5.3M | New |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 3,865,000 | $5.1M | New |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 4,751,000 | $5.0M | New |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 4,790,000 | $4.6M | Reduce -48.4% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 4,780,000 | $4.3M | New |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 4,027,000 | $4.3M | Reduce -21.1% |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 4,700,000 | $4.3M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 3,546,000 | $4.2M | Add +6.3% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 2,329,000 | $4.2M | Add +16.4% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 4,452,000 | $4.1M | No change |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 4,320,000 | $4.1M | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 4,093,000 | $4.1M | Reduce -44.3% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 4,007,000 | $4.0M | Reduce -20.0% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 4,240,000 | $3.9M | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 4,038,000 | $3.8M | Reduce -42.6% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 2,560,000 | $3.7M | Reduce -7.9% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 3,666,000 | $3.6M | Add +41.4% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 3,786,000 | $3.4M | Reduce -87.0% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 3,412,000 | $3.4M | Reduce -44.4% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 3,401,000 | $3.3M | Add +122.9% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 3,741,000 | $3.2M | Add +25.0% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 3,290,000 | $3.1M | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 3,184,000 | $3.0M | Reduce -0.6% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 3,041,000 | $3.0M | New |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 2,626,000 | $3.0M | New |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 2,800,000 | $2.7M | Reduce -50.6% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 2,100,000 | $2.5M | Add +38.6% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 1,976,000 | $2.5M | Add +113.4% |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 2,479,000 | $2.4M | Add +95.2% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 1,903,000 | $2.4M | No change |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 2,357,000 | $2.3M | Add +135.7% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 1,743,000 | $2.2M | No change |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 2,500,000 | $2.2M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 2,117,000 | $2.1M | Reduce -40.9% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 1,785,000 | $2.1M | Add +20.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 2,227,000 | $2.1M | Reduce -46.5% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 2,191,000 | $2.1M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 1,756,000 | $2.0M | No change |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 1,983,000 | $2.0M | No change |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 1,575,000 | $2.0M | New |
| INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) | NOTE 0.500% 8/1 · principal | 2,002,000 | $2.0M | Reduce -29.2% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 1,103,000 | $2.0M | Add +10.3% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 1,526,000 | $1.9M | Add +52.5% |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 1,200,000 | $1.9M | Reduce -73.3% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 1,325,000 | $1.8M | New |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 1,832,000 | $1.7M | Reduce -68.3% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 1,335,000 | $1.5M | Add +64.8% |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 1,343,000 | $1.4M | New |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 1,135,000 | $1.3M | New |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 1,025,000 | $1.3M | New |
| ZYNEX INC (ZYXI 5 05/15/26) | NOTE 5.000% 5/1 · principal | 2,000,000 | $1.3M | No change |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,215,000 | $1.3M | Add +209.2% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 1,295,000 | $1.2M | Add +362.5% |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 515,000 | $1.1M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 1,110,000 | $1.0M | Reduce -78.4% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 1,042,000 | $1.0M | New |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 1,050,000 | $1.0M | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 1,067,000 | $987K | No change |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 910,000 | $968K | Reduce -3.8% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 908,000 | $966K | No change |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 1,000,000 | $933K | No change |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | 972,000 | $929K | No change |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 898,000 | $892K | No change |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 755,000 | $847K | Reduce -24.9% |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 705,000 | $775K | No change |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 708,000 | $689K | New |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 525,000 | $607K | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 200,000 | $595K | No change |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 635,000 | $567K | No change |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 230,000 | $324K | Reduce -57.4% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 200,000 | $300K | New |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 29,388 | $258K | Reduce -1.1% |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 11,428 | $243K | Reduce -18.6% |
| TWO HARBORS INV CORP (TWO 6.25 01/15/26) | NOTE 6.250% 1/1 · principal | 225,000 | $223K | Add +125.0% |
| CALLAWAY GOLF CO (CALY 2.75 05/01/26) | NOTE 2.750% 5/0 · principal | 209,000 | $203K | No change |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 160,000 | $142K | No change |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 145,000 | $138K | No change |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% · principal | 5,347 | $134K | Reduce -4.1% |
| QBTS.WS D-Wave Quantum Inc. -27 | *W EXP 08/05/202 | 12,476 | $112K | New |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 50,000 | $53K | No change |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 40,000 | $40K | New |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 33,000 | $39K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F · principal | 2,081 | $37K | Reduce -62.2% |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 71,095 | $31K | Add +19.8% |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 11,000 | $31K | No change |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | 30,000 | $30K | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 25,000 | $27K | Reduce -94.4% |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 6,000 | $24K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A · principal | 15,872 | $19K | Add +6.1% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 18,000 | $18K | No change |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 20,000 | $14K | Reduce -98.9% |
| CORZZ Core Scientific Inc. - 29 | *W EXP 01/23/202 | 781 | $13K | No change |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A · principal | 557 | $13K | Reduce -71.1% |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 10,000 | $11K | No change |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | 10,000 | $11K | No change |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 938 | $10K | Reduce -0.1% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 10,000 | $10K | No change |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | 10,000 | $10K | No change |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E · principal | 288 | $9K | Reduce -62.5% |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 10,000 | $9K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E · principal | 442 | $8K | Reduce -65.1% |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 5,000 | $7K | Reduce -99.6% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 7,000 | $7K | No change |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 8,000 | $6K | No change |
| IRS.WS Irsa Inversiones Y Rep -CW26 | *W EXP 05/12/202 | 3,770 | $6K | New |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L · principal | 4,593 | $6K | Reduce -6.7% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 5,000 | $5K | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 6,000 | $5K | No change |
| LGL.WS LGL Group Inc./the -CW25 | *W EXP 11/16/202 | 8,600 | $5K | No change |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 3,000 | $5K | Reduce -96.7% |
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | 4,212 | $4K | Reduce -38.0% |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 4,000 | $4K | Reduce -86.2% |
| LMP CAPITAL AND INCOME FUND | RIGHT 07/11/2025 | 39,475 | $3K | Reduce -32.0% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | 4,204 | $3K | Add +98.2% |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF · principal | 1,794 | $2K | Add +52.4% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 2,000 | $2K | No change |
| BBAI.WS Bigbear.ai Holdings -CW28 | *W EXP 12/08/202 | 1,000 | $2K | New |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 1,787 | $2K | New |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 274 | $2K | New |
| ALVOW Alvotech SA -27 | *W EXP 99/99/999 | 1,397 | $2K | Add +251.9% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 · principal | 3,808 | $2K | Reduce -41.2% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 · principal | 2,778 | $1K | Add +16.7% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% · principal | 2,200 | $1K | Add +340.0% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV · principal | 1,877 | $1K | Reduce -26.8% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 335 | $1K | New |
| HPKEW Highpeak Energy Inc. | *W EXP 08/21/202 | 1,500 | $1K | No change |
| MSAIW Sportsmap Tech Acq -CW27 | *W EXP 12/19/202 | 25,000 | $1K | No change |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 1,000 | $1K | No change |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | 1,000 | $1K | No change |
| CRPWF Carbon Revolution PLC | *W EXP 99/99/999 | 33,333 | $1K | New |
| MNYWW Moneyhero Ltd.-28 | *W EXP 09/13/202 | 27,735 | $1K | Reduce -0.3% |
| RTACW Renatus Tactical Acqu - 30 | *W EXP 05/15/203 | 500 | $1K | New |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG · principal | 701 | $470 | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D · principal | 863 | $460 | New |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD · principal | 714 | $380 | Add +38.9% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 · principal | 726 | $340 | Add +62.8% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV · principal | 399 | $290 | Add +39800.0% |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C · principal | 525 | $240 | Reduce -26.6% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 · principal | 514 | $230 | Add +14.0% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A · principal | 490 | $180 | Reduce -11.9% |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF · principal | 142 | $160 | New |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A · principal | 456 | $150 | Reduce -60.5% |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 · principal | 129 | $110 | Reduce -18.4% |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B · principal | 98 | $60 | Reduce -72.7% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 · principal | 110 | $50 | Reduce -86.0% |
| ALURW Allurion Technologies-28 | *W EXP 08/01/203 | 68 | $0 | No change |
| BKKT.WS Bakkt Holdings Inc. -CW26 | *W EXP 10/25/202 | 250 | $0 | No change |
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B · principal | 17 | $0 | Reduce -98.1% |
| BRISTOL MYERS - CELGENE CVR | RIGHT 12/30/2030 | 2,475 | $0 | No change |
| BFLYW Butterfly Network Inc. -CW25 | *W EXP 02/12/202 | 17 | $0 | No change |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 3 | $0 | Reduce -25.0% |
| DJTWW Trump Media & Technology Gro | *W EXP 03/25/202 | 1 | $0 | New |
| ORGNW Origin Materials -CW26 | *W EXP 06/25/202 | 500 | $0 | New |
| OUSTW Ouster Inc.-28 | *W EXP 09/29/202 | 57 | $0 | No change |
| SQFTW Presidio Property TRST -CW27 | *W EXP 01/24/202 | 8,053 | $0 | No change |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 200 | $0 | No change |
| RGTIW Rigetti Computing -CW27 | *W EXP 03/02/202 | 7 | $0 | No change |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 33 | $0 | No change |
| SONWQ Gores Metropoulos II -CW28 | *W EXP 01/18/202 | 117 | $0 | No change |
| USGOW US Goldmining Inc.-28 | *W EXP 99/99/999 | 100 | $0 | No change |
| RBOT.WS Vicarious Surgical Inc.-CW27 | *W EXP 09/17/202 | 10 | $0 | No change |
| GRABW Grab Holdings Ltd.-CW 26 | *W EXP 99/99/999 | 120 | $0 | No change |
| RNWWW Renew Energy Global -CW26 | *W EXP 08/21/202 | 233 | $0 | No change |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 15 | $0 | No change |
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 421 | $0 | Add +90.5% |
Total filed on the 13F, all lines: $513.8B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -4.2% | 2.42% | −0.72 |
| UNH Unitedhealth Group Inc. | Reduce -8.3% | 0.48% | −0.53 |
| CNQ Canadian Natural Resources | Reduce -19.6% | 0.74% | −0.30 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.6% | 0.88% | −0.28 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -13.2% | 1.14% | −0.23 |
| SU Suncor Energy Inc. | Reduce -14.7% | 0.45% | −0.18 |
| PG The Procter & Gamble Co. | Reduce -6.7% | 0.50% | −0.16 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -53.5% | 0.11% | −0.14 |
| V Visa Inc. Class A | Reduce -1.7% | 0.90% | −0.14 |
| JNJ Johnson & Johnson | Reduce -4.8% | 0.42% | −0.13 |
| XOM Exxon Mobil Corp. | Reduce -3.9% | 0.37% | −0.12 |
| HD Home Depot Inc. | Reduce -1.6% | 0.69% | −0.12 |
| TMUS T-Mobile US Inc. | Reduce -12.9% | 0.22% | −0.10 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -32.9% | 0.17% | −0.10 |
| AMGN Amgen Inc. | Reduce -7.1% | 0.25% | −0.09 |
| TXN Texas Instruments Inc. | Reduce -22.7% | 0.31% | −0.09 |
| PH Parker Hannifin Corp. | Reduce -32.4% | 0.17% | −0.08 |
| PEP Pepsico Inc. | Reduce -11.8% | 0.17% | −0.08 |
| MA Mastercard Inc. Class A | Reduce -2.2% | 0.55% | −0.08 |
| MRK Merck & Co. Inc. | Reduce -4.4% | 0.21% | −0.08 |
| ACN Accenture PLC Class A | Reduce -4.3% | 0.28% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -7.0% | 0.77% | −0.07 |
| AZO AutoZone Inc. | Reduce -6.5% | 0.26% | −0.07 |
| QSR Restaurant Brands Intern | Reduce -6.7% | 0.27% | −0.07 |
| MDT Medtronic PLC | Reduce -11.3% | 0.19% | −0.06 |
| KO The Coca-Cola Co. | Reduce -0.7% | 0.37% | −0.06 |
| MCK McKesson Corp. | Reduce -17.6% | 0.21% | −0.06 |
| NEE Nextera Energy Inc. | Reduce -4.3% | 0.26% | −0.06 |
| TFC Truist Financial Corp. | Reduce -24.9% | 0.12% | −0.06 |
| CRM Salesforce Inc. | Reduce -3.6% | 0.34% | −0.06 |
| PFE Pfizer Inc. | Reduce -12.6% | 0.14% | −0.05 |
| DUK Duke Energy Corp. | Reduce -6.4% | 0.19% | −0.05 |
| AMT American Tower Corp. | Reduce -38.5% | 0.06% | −0.05 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -30.4% | 0.12% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -11.9% | 0.18% | −0.05 |
| NTR Nutrien Ltd. | Reduce -13.1% | 0.37% | −0.05 |
| VXF Vanguard Extended Market ETF | Reduce -56.8% | 0.03% | −0.05 |
| SPGI S&P Global Inc. | Reduce -13.1% | 0.16% | −0.04 |
| T AT&T Inc. | Reduce -7.1% | 0.21% | −0.04 |
| ABT Abbott Laboratories | Reduce -11.1% | 0.17% | −0.04 |
| EOG EOG Resources Inc. | Reduce -11.1% | 0.11% | −0.04 |
| AEP American Electric Power | Reduce -7.8% | 0.13% | −0.04 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -71.1% | 0.02% | −0.04 |
| LIN Linde PLC | Reduce -8.0% | 0.16% | −0.04 |
| TSLA Tesla Inc. | Reduce -15.5% | 0.35% | −0.04 |
| TD Toronto-Dominion Bank | Reduce -7.8% | 2.07% | −0.04 |
| KMB Kimberly-Clark Corp. | Reduce -14.5% | 0.07% | −0.04 |
| LOW Lowe's Cos Inc. | Reduce -18.0% | 0.07% | −0.04 |
| ADP Automatic Data Processing | Reduce -11.7% | 0.12% | −0.03 |
| BAC Bank of America Corp. | Reduce -7.0% | 0.38% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +3.7% | 2.94% | +0.70 |
| AVGO Broadcom Inc. | Add +4.7% | 1.18% | +0.39 |
| TRP TC Energy Corp. | Add +39.5% | 1.21% | +0.24 |
| CVX Chevron Corp. | Add +106.8% | 0.60% | +0.21 |
| EMA Emera Inc. | New | 0.19% | +0.19 |
| BMO Bank of Montreal | Add +13.7% | 1.41% | +0.18 |
| ORCL Oracle Corp. | Add +43.1% | 0.32% | +0.16 |
| AMZN Amazon.com Inc. | Add +4.4% | 2.43% | +0.11 |
| TU Telus Corp. | Add +23.6% | 0.63% | +0.11 |
| BNS Bank of Nova Scotia | Add +8.0% | 1.16% | +0.10 |
| SLF Sun Life Financial Inc. | Add +15.2% | 0.67% | +0.09 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +59.8% | 0.18% | +0.09 |
| VOO Vanguard S&P 500 ETF | Add +25.4% | 0.46% | +0.08 |
| IWR iShares Russell Mid-Cap ETF | Add +204.2% | 0.11% | +0.07 |
| AMD Advanced Micro Devices | Add +47.7% | 0.16% | +0.07 |
| BA The Boeing Co. | Add +49.5% | 0.17% | +0.06 |
| TWLO Twilio Inc. Class A | Add +1663.6% | 0.07% | +0.06 |
| APH Amphenol Corp. Class A | Add +1.0% | 0.25% | +0.06 |
| CHTR Charter Communications Inc. Class A | Add +446.7% | 0.08% | +0.06 |
| CCJ Cameco Corp. | Add +7.8% | 0.15% | +0.06 |
| SHOP Shopify Inc. Class A | Add +8.8% | 0.48% | +0.06 |
| PANW Palo Alto Networks Inc. | Add +18.6% | 0.30% | +0.06 |
| COR Cencora Inc. | Add +235.5% | 0.08% | +0.06 |
| RY Royal Bank of Canada | Add +1.4% | 1.88% | +0.05 |
| TSM Taiwan Semiconductor-SP ADR | Add +7.0% | 0.24% | +0.05 |
| HOOD Robinhood Markets Inc. Class A | Add +229.2% | 0.06% | +0.05 |
| GEV GE Vernova Inc. | Add +22.0% | 0.10% | +0.05 |
| RCL Royal Caribbean Cruises Ltd. | Add +129.0% | 0.07% | +0.05 |
| HDB HDFC Bank Ltd.-ADR | Add +27.4% | 0.21% | +0.05 |
| NOW ServiceNow Inc. | Add +7.7% | 0.25% | +0.04 |
| CEG Constellation Energy | Add +51.2% | 0.08% | +0.04 |
| BEN Franklin Templeton Inc. | Add +1083.0% | 0.05% | +0.04 |
| DELL Dell Technologies -C | Add +137.4% | 0.06% | +0.04 |
| ISRG Intuitive Surgical Inc. | Add +28.4% | 0.22% | +0.04 |
| ENB Enbridge Inc. | Add +16.3% | 1.20% | +0.04 |
| SPOT Spotify Technology SA | Add +68.3% | 0.08% | +0.04 |
| UBER Uber Technologies Inc. | Add +7.4% | 0.23% | +0.04 |
| TT Trane Technologies PLC | Add +11.0% | 0.18% | +0.04 |
| KR Kroger Co. | Add +138.9% | 0.07% | +0.04 |
| FERG Ferguson Enterprises Inc. | Add +70.5% | 0.07% | +0.04 |
| GE General Electric | Add +11.8% | 0.18% | +0.04 |
| PKG Packaging Corp. of America | Add +411.6% | 0.05% | +0.04 |
| AMAT Applied Materials Inc. | Add +29.0% | 0.12% | +0.03 |
| TROW T Rowe Price Group Inc. | Add +345.4% | 0.04% | +0.03 |
| IRM Iron Mountain Inc. | Add +310.3% | 0.04% | +0.03 |
| PWR Quanta Services Inc. | Add +5.4% | 0.12% | +0.03 |
| NTNX Nutanix Inc. Class A | Add +198.6% | 0.05% | +0.03 |
| BAM Brookfield Asset Mgmt-A | Add +15.7% | 0.23% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +2.1% | 0.23% | +0.03 |
| CG The Carlyle Group Inc. | Add +915.8% | 0.03% | +0.03 |
Options Activity Q1 2025 → Q2 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +22.5% | 13,729,700 | $8.5B |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +34.5% | 13,642,300 | $8.4B |
| IWM iShares Russell 2000 ETF | put | Reduce -10.9% | 13,447,500 | $2.9B |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -6.9% | 3,926,900 | $2.2B |
| IWM iShares Russell 2000 ETF | call | Add +137.6% | 7,516,500 | $1.6B |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -42.4% | 2,167,000 | $1.2B |
| BNS Bank of Nova Scotia | put | Add +70.4% | 16,817,000 | $929.5M |
| NVDA Nvidia Corp. | put | Add +57.8% | 5,259,400 | $830.9M |
| XLE SS Energy Select Sector | put | Reduce -0.8% | 7,625,900 | $646.8M |
| BMO Bank of Montreal | put | Add +8.6% | 5,040,000 | $557.6M |
| NVDA Nvidia Corp. | call | Reduce -13.1% | 3,362,800 | $531.3M |
| MSFT Microsoft Corp. | call | Add +78.4% | 1,031,400 | $513.0M |
| TSLA Tesla Inc. | call | Add +267.8% | 1,568,500 | $498.3M |
| XLF SS Financial Select Sector | put | Reduce -6.6% | 9,010,800 | $471.9M |
| CM Can Imperial BK of Commerce | put | Add +22.9% | 6,113,000 | $433.0M |
| BCE Bce Inc. | put | Reduce -18.7% | 14,473,200 | $320.9M |
| TU Telus Corp. | put | Add +57.4% | 19,214,000 | $308.6M |
| TSLA Tesla Inc. | put | Add +10.2% | 867,800 | $275.7M |
| META Meta Platforms Inc. Class A | call | Add +374.6% | 367,800 | $271.5M |
| CNQ Canadian Natural Resources | put | Add +300.4% | 8,307,800 | $260.9M |
| WFC Wells Fargo & Co. | put | Reduce -20.2% | 3,227,400 | $258.6M |
| TD Toronto-Dominion Bank | put | Reduce -10.6% | 3,084,500 | $226.6M |
| RCI Rogers Communications Inc. Class B | put | Reduce -7.3% | 6,745,000 | $200.1M |
| BCE Bce Inc. | call | Add +7.2% | 8,712,100 | $193.1M |
| EFA iShares MSCI Eafe ETF | put | Reduce -36.5% | 2,089,200 | $186.8M |
| AAPL Apple Inc. | call | Add +291.7% | 861,400 | $176.7M |
| ENB Enbridge Inc. | put | Reduce -2.5% | 3,725,000 | $168.8M |
| TRP TC Energy Corp. | put | Add +0.6% | 3,337,000 | $162.8M |
| PLTR Palantir Technologies Inc. Class A | call | Add +38.0% | 1,161,600 | $158.3M |
| DASH DoorDash Inc. Class A | put | New | 619,000 | $152.6M |
| EWC iShares MSCI Canada ETF | put | New | 3,200,000 | $147.8M |
| SU Suncor Energy Inc. | put | Add +108.1% | 3,850,000 | $144.2M |
| DASH DoorDash Inc. Class A | call | New | 569,400 | $140.4M |
| BMO Bank of Montreal | call | Reduce -6.3% | 1,219,100 | $134.9M |
| ORCL Oracle Corp. | call | Add +19046.9% | 612,700 | $134.0M |
| WMT Walmart Inc. | call | Add +66.3% | 1,330,000 | $130.0M |
| CSCO Cisco Systems Inc. | call | Add +17.0% | 1,855,500 | $128.7M |
| NFLX Netflix Inc. | call | New | 90,000 | $120.5M |
| COST Costco Wholesale Corp. | put | Sold out | 116,900 | $110.6Mbefore exit |
| TXN Texas Instruments Inc. | call | Add +96.4% | 525,000 | $109.0M |
| NET Cloudflare Inc. Class A | call | Add +532.9% | 550,000 | $107.7M |
| CAT Caterpillar Inc. | put | Add +175.2% | 275,200 | $106.8M |
| JPM JPMorgan Chase & Co. | call | Add +212.0% | 368,500 | $106.8M |
| INTU Intuit Inc. | call | New | 132,500 | $104.4M |
| NOW ServiceNow Inc. | call | Add +135.0% | 94,000 | $96.6M |
| GS Goldman Sachs Group Inc. | put | Reduce -34.4% | 132,000 | $93.4M |
| SLF Sun Life Financial Inc. | put | Reduce -5.4% | 1,402,400 | $93.2M |
| MFC Manulife Financial Corp. | put | Add +0.0% | 2,873,100 | $91.8M |
| BNS Bank of Nova Scotia | call | Add +24.4% | 1,622,500 | $89.7M |
| CM Can Imperial BK of Commerce | call | Add +7.5% | 1,225,100 | $86.8M |
Showing the first 50 of 427.
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
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | Add +619.4% | 51,003,000 | $50.8M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | New | 19,173,000 | $25.0M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Reduce -12.5% | 20,101,000 | $24.1M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Reduce -7.3% | 14,225,000 | $21.7M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 16,240,000 | $20.6M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +4.7% | 17,078,000 | $18.9M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +4.0% | 17,470,500 | $17.8M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Reduce -25.1% | 11,280,000 | $17.4M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 16,168,000 | $16.1Mbefore exit |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 12,144,000 | $16.1Mbefore exit |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Sold out | 11,849,000 | $14.2Mbefore exit |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -16.3% | 11,025,000 | $11.1M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +141.4% | 11,080,000 | $10.8M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Sold out | 7,877,000 | $9.0Mbefore exit |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Add +257.7% | 8,942,000 | $8.9M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Add +6.2% | 8,579,000 | $8.3M |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Reduce -3.6% | 8,114,000 | $7.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Add +39.2% | 7,646,000 | $7.4M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Add +16.2% | 6,937,000 | $7.3M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | New | 6,583,000 | $6.5M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Add +112.6% | 6,181,000 | $6.3M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Add +171.4% | 4,038,000 | $6.2M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Add +105.8% | 6,134,000 | $6.1M |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | Reduce -45.2% | 5,715,000 | $5.6M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -19.4% | 4,155,000 | $5.5M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Reduce -40.0% | 3,000,000 | $5.3M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | New | 4,950,000 | $5.3M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | New | 3,865,000 | $5.1M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | New | 4,751,000 | $5.0M |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | Reduce -48.4% | 4,790,000 | $4.6M |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | New | 4,780,000 | $4.3M |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | Reduce -21.1% | 4,027,000 | $4.3M |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 4,450,000 | $4.3Mbefore exit |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Add +6.3% | 3,546,000 | $4.2M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +16.4% | 2,329,000 | $4.2M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Reduce -44.3% | 4,093,000 | $4.1M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -20.0% | 4,007,000 | $4.0M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Reduce -42.6% | 4,038,000 | $3.8M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | Reduce -7.9% | 2,560,000 | $3.7M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Add +41.4% | 3,666,000 | $3.6M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -87.0% | 3,786,000 | $3.4M |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Reduce -44.4% | 3,412,000 | $3.4M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Add +122.9% | 3,401,000 | $3.3M |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | Add +25.0% | 3,741,000 | $3.2M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | New | 3,041,000 | $3.0M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -0.6% | 3,184,000 | $3.0M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | New | 2,626,000 | $3.0M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Sold out | 3,400,000 | $2.9Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -50.6% | 2,800,000 | $2.7M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Sold out | 2,567,000 | $2.6Mbefore exit |
Showing the first 50 of 154.
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 | 6,906 | $590.3B | AAPL, NVDA, RY, MSFT, GOOGL |
| Q1 2026 | 6,801 | $527.2B | AAPL, NVDA, MSFT, IVV, RY |
| Q4 2025 | 6,782 | $568.3B | IVV, NVDA, AAPL, MSFT, VOO |
| Q3 2025 | 6,673 | $561.4B | MSFT, NVDA, AAPL, IVV, AMZN |
| Q2 2025Amended | 6,597 | $513.3B | MSFT, NVDA, AMZN, AAPL, TD |
| Q1 2025Amended | 6,425 | $446.5B | MSFT, AAPL, AMZN, NVDA, TD |
| Q4 2024 | 6,380 | $461.8B | MSFT, AAPL, NVDA, AMZN, RY |
| Q3 2024 | 6,318 | $449.4B | MSFT, AAPL, NVDA, AMZN, TD |
| Q2 2024Amended | 6,844 | $414.1B | MSFT, AAPL, NVDA, AMZN, RY |
| Q1 2024Amended | 6,765 | $409.7B | MSFT, AAPL, TD, AMZN, NVDA |