RWC Asset Management LLP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), RWC Asset Management LLP reported 57 stock positions worth $1.3 billion. Its top holding was HP (HPQ) at 9.3% of the portfolio, followed by Qualcomm (QCOM, 6.0%) and Cisco Systems (CSCO, 5.9%). Compared with Q4 2023, it opened 9 new positions, sold out of 6, added to 11 and reduced 27. The biggest buy was a new position in Sysco (SYY) and the biggest sale PDD (PDD, shares −65%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001520478
- Portfolio Value
- $1.3B (Q1 2024)
- SEC Filing
- 0001398344-24-008964 ↗ filed May 8, 2024
Holdings Value
Holdings 57 stocks · $1.3B
| HPQ HP Inc. | 9.34% | 4,073,516 | $123.1M | Reduce -5.1% |
| QCOM Qualcomm Inc. | 6.05% | 470,861 | $79.7M | Reduce -22.4% |
| CSCO Cisco Systems Inc. | 5.92% | 1,563,494 | $78.0M | Reduce -5.8% |
| B Barrick Gold Corp. | 4.87% | 3,861,159 | $64.2M | Reduce -6.3% |
| GFI Gold Fields Ltd.-Spons ADR | 3.93% | 3,264,099 | $51.9M | Add +6.9% |
| AMT American Tower Corp. | 3.54% | 236,082 | $46.6M | Reduce -5.8% |
| SYY Sysco Corp. | 3.18% | 516,719 | $41.9M | New |
| OMC Omnicom Group | 3.15% | 428,817 | $41.5M | Reduce -5.7% |
| C Citigroup Inc. | 2.96% | 616,808 | $39.0M | Add +0.8% |
| CX Cemex Sab-Spons ADR Part Cer | 2.95% | 4,315,008 | $38.9M | Add +20.7% |
| JNJ Johnson & Johnson | 2.85% | 237,267 | $37.5M | Reduce -5.8% |
| PEP Pepsico Inc. | 2.72% | 204,942 | $35.9M | Reduce -5.8% |
| KDP Keurig Dr Pepper Inc. | 2.69% | 1,158,581 | $35.5M | Reduce -3.3% |
| PBR Petroleo Brasileiro-Spon ADR | 2.67% | 2,311,045 | $35.2M | Reduce -10.1% |
| MRK Merck & Co. Inc. | 2.58% | 257,996 | $34.0M | Reduce -5.8% |
| MELI MercadoLibre Inc. | 2.54% | 22,175 | $33.5M | Reduce -8.8% |
| ABEV Ambev SA-ADR | 2.36% | 12,572,865 | $31.2M | Add +21.6% |
| PAYX Paychex Inc. | 1.97% | 211,600 | $26.0M | Reduce -5.9% |
| INFY Infosys Ltd.-SP ADR | 1.88% | 1,384,462 | $24.8M | Reduce -5.7% |
| PG The Procter & Gamble Co. | 1.86% | 151,095 | $24.5M | Reduce -5.9% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 1.77% | 1,181,155 | $23.4M | Add +89.0% |
| PM Philip Morris International | 1.72% | 247,264 | $22.7M | Reduce -6.1% |
| BIDU Baidu Inc. - Spon ADR | 1.71% | 213,667 | $22.5M | Reduce -37.7% |
| VALE Vale SA-SP ADR | 1.67% | 1,804,283 | $22.0M | Reduce -42.5% |
| CMS CMS Energy Corp. | 1.65% | 360,730 | $21.8M | Reduce -6.1% |
| PDD PDD Holdings Inc. | 1.62% | 183,789 | $21.4M | Reduce -65.4% |
| BABA Alibaba Group Holding-SP ADR | 1.54% | 281,101 | $20.3M | New |
| ES Eversource Energy | 1.52% | 334,646 | $20.0M | Reduce -5.8% |
| GGAL Grupo Financiero Galicia-ADR | 1.51% | 784,162 | $19.9M | Add +96.8% |
| EXC Exelon Corp. | 1.51% | 528,951 | $19.9M | Reduce -5.7% |
| BRX Brixmor Property Group Inc. | 1.47% | 826,792 | $19.4M | Reduce -5.6% |
| FRT Federal Realty Invs Trust | 1.35% | 174,131 | $17.8M | Reduce -5.7% |
| KOS Kosmos Energy Ltd. | 1.33% | 2,947,183 | $17.6M | Add +4.5% |
| BZ Kanzhun Ltd. - ADR | 1.16% | 875,605 | $15.3M | Add +57.7% |
| TCOM Trip.com Group Ltd.-ADR | 1.05% | 316,827 | $13.9M | New |
| LI Li Auto Inc. - ADR | 1.04% | 454,018 | $13.7M | New |
| NEM Newmont Corp. | 0.89% | 326,214 | $11.7M | No change |
| VIST Vista Energy Sab DE CV | 0.86% | 273,164 | $11.3M | No change |
| BSAC Banco Santander-Chile-ADR | 0.75% | 496,295 | $9.8M | Add +0.1% |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.73% | 1,444,375 | $9.6M | No change |
| LAR Lithium Americas Argentina C | 0.66% | 1,606,747 | $8.6M | Add +77.2% |
| CPA Copa Holdings SA Class A | 0.45% | 57,506 | $6.0M | No change |
| GTE Gran Tierra Energy Inc. | 0.42% | 772,507 | $5.5M | No change |
| SCCO Southern Copper Corp. | 0.40% | 49,753 | $5.3M | New |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.38% | 298,019 | $5.0M | Reduce -43.4% |
| TEO Telecom Argentina SA-SP ADR | 0.22% | 371,578 | $3.0M | No change |
| EDU New Oriental Educatio-SP ADR | 0.19% | 28,399 | $2.5M | New |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 0.07% | 52,998 | $977K | Reduce -9.4% |
| TAL Tal Education Group- ADR | 0.07% | 80,060 | $909K | Reduce -24.2% |
| VZ Verizon Communications Inc. | 0.05% | 15,519 | $651K | Add +2.6% |
| COF Capital One Financial Corp. | 0.04% | 3,716 | $553K | No change |
| IQ Iqiyi Inc.-ADR | 0.04% | 128,460 | $543K | New |
| LEA Lear Corp. | 0.04% | 3,451 | $500K | No change |
| IPG Interpublic Group of Cos Inc. | 0.03% | 12,312 | $402K | No change |
| JXN Jackson Financial Inc. Class A | 0.03% | 5,735 | $379K | New |
| SYF Synchrony Financial | 0.03% | 8,529 | $368K | No change |
| DAL Delta Air Lines Inc. | 0.02% | 5,724 | $274K | New |
Other holdings (54): bonds, preferreds, convertibles and warrants · $276.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 18,800,000 | $19.0M | Reduce -4.1% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 17,200,000 | $16.1M | Reduce -11.8% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 14,500,000 | $13.4M | Add +31.8% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 11,300,000 | $11.2M | New |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 11,400,000 | $10.6M | Add +2.7% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 10,000,000 | $10.0M | New |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | 7,200,000 | $8.9M | Add +2.9% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 8,000,000 | $8.6M | Add +31.1% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 7,200,000 | $8.4M | Reduce -4.0% |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | 7,000,000 | $7.2M | Add +27.3% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 6,800,000 | $7.0M | Reduce -22.7% |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 6,500,000 | $6.8M | No change |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 5,100,000 | $6.7M | Add +24.4% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 6,700,000 | $6.7M | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 4,500,000 | $5.9M | Add +45.2% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 6,000,000 | $5.8M | New |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 4,700,000 | $5.5M | Add +9.3% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 4,200,000 | $5.2M | Reduce -6.7% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 4,000,000 | $4.8M | New |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 5,500,000 | $4.8M | New |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 5,000,000 | $4.8M | Add +25.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 3,800,000 | $4.5M | Reduce -41.5% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 5,300,000 | $4.3M | New |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 4,500,000 | $4.2M | New |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | 4,300,000 | $4.1M | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 4,000,000 | $4.1M | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 3,800,000 | $4.0M | Add +15.2% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 4,200,000 | $4.0M | Add +31.3% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 3,000,000 | $3.9M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 4,000,000 | $3.9M | Reduce -24.5% |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 3,800,000 | $3.8M | Add +660.0% |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 3,800,000 | $3.7M | Add +52.0% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 3,500,000 | $3.5M | Reduce -22.2% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 3,700,000 | $3.5M | New |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 3,500,000 | $3.4M | New |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 3,500,000 | $3.3M | Reduce -27.1% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 3,500,000 | $3.2M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 2,500,000 | $3.0M | No change |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 1,700,000 | $2.8M | Reduce -48.5% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,500,000 | $2.8M | Add +25.0% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 3,000,000 | $2.7M | Reduce -14.3% |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | 1,900,000 | $2.6M | New |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 2,700,000 | $2.5M | Add +22.7% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 2,200,000 | $2.5M | Reduce -18.5% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 2,100,000 | $2.3M | New |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 1,600,000 | $2.3M | Reduce -60.0% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 1,500,000 | $2.2M | New |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 1,400,000 | $2.0M | Reduce -53.3% |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | 700,000 | $2.0M | New |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 1,000,000 | $1.9M | New |
| MICROCHIP TECHNOLOGY INC (MCHP 0.125 11/15/24) | NOTE 0.125%11/1 · principal | 1,800,000 | $1.9M | Reduce -48.6% |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 1,500,000 | $1.9M | Add +650.0% |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | 1,600,000 | $1.7M | No change |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 500,000 | $490K | No change |
Total filed on the 13F, all lines: $1.6B.
Portfolio Sells Q4 2023 → Q1 2024
| PDD PDD Holdings Inc. | Reduce -65.4% | 1.62% | −3.95 |
| TPR Tapestry Inc. | Sold out | 0.00% | −3.77 |
| VALE Vale SA-SP ADR | Reduce -42.5% | 1.67% | −1.90 |
| XPEV Xpeng Inc. - ADR | Sold out | 0.00% | −1.28 |
| BIDU Baidu Inc. - Spon ADR | Reduce -37.7% | 1.71% | −1.22 |
| B Barrick Gold Corp. | Reduce -6.3% | 4.87% | −0.47 |
| PSMT Pricesmart Inc. | Sold out | 0.00% | −0.35 |
| AMT American Tower Corp. | Reduce -5.8% | 3.54% | −0.34 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -10.1% | 2.67% | −0.27 |
| QCOM Qualcomm Inc. | Reduce -22.4% | 6.05% | −0.24 |
| CAAP Corp. America Airports SA | Reduce -43.4% | 0.38% | −0.23 |
| MELI MercadoLibre Inc. | Reduce -8.8% | 2.54% | −0.19 |
| KDP Keurig Dr Pepper Inc. | Reduce -3.3% | 2.69% | −0.17 |
| CSCO Cisco Systems Inc. | Reduce -5.8% | 5.92% | −0.09 |
| PM Philip Morris International | Reduce -6.1% | 1.72% | −0.06 |
| ES Eversource Energy | Reduce -5.8% | 1.52% | −0.05 |
| INFY Infosys Ltd.-SP ADR | Reduce -5.7% | 1.88% | −0.05 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.04 |
| KR Kroger Co. | Sold out | 0.00% | −0.04 |
| TAL Tal Education Group- ADR | Reduce -24.2% | 0.07% | −0.03 |
| ZLAB Zai Lab Ltd.-ADR | Sold out | 0.00% | −0.02 |
| FRT Federal Realty Invs Trust | Reduce -5.7% | 1.35% | −0.01 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -9.4% | 0.07% | +0.01 |
| BRX Brixmor Property Group Inc. | Reduce -5.6% | 1.47% | +0.01 |
| JNJ Johnson & Johnson | Reduce -5.8% | 2.85% | +0.02 |
| PAYX Paychex Inc. | Reduce -5.9% | 1.97% | +0.05 |
| CMS CMS Energy Corp. | Reduce -6.1% | 1.65% | +0.05 |
| EXC Exelon Corp. | Reduce -5.7% | 1.51% | +0.07 |
| PEP Pepsico Inc. | Reduce -5.8% | 2.72% | +0.07 |
| HPQ HP Inc. | Reduce -5.1% | 9.34% | +0.09 |
| PG The Procter & Gamble Co. | Reduce -5.9% | 1.86% | +0.17 |
| OMC Omnicom Group | Reduce -5.7% | 3.15% | +0.33 |
| MRK Merck & Co. Inc. | Reduce -5.8% | 2.58% | +0.44 |
Portfolio Buys Q4 2023 → Q1 2024
| SYY Sysco Corp. | New | 3.18% | +3.18 |
| BABA Alibaba Group Holding-SP ADR | New | 1.54% | +1.54 |
| TCOM Trip.com Group Ltd.-ADR | New | 1.05% | +1.05 |
| LI Li Auto Inc. - ADR | New | 1.04% | +1.04 |
| GGAL Grupo Financiero Galicia-ADR | Add +96.8% | 1.51% | +1.02 |
| YPF YPF S.A.-Sponsored ADR | Add +89.0% | 1.77% | +1.00 |
| CX Cemex Sab-Spons ADR Part Cer | Add +20.7% | 2.95% | +0.96 |
| GFI Gold Fields Ltd.-Spons ADR | Add +6.9% | 3.93% | +0.77 |
| C Citigroup Inc. | Add +0.8% | 2.96% | +0.70 |
| BZ Kanzhun Ltd. - ADR | Add +57.7% | 1.16% | +0.50 |
| SCCO Southern Copper Corp. | New | 0.40% | +0.40 |
| ABEV Ambev SA-ADR | Add +21.6% | 2.36% | +0.29 |
| LAR Lithium Americas Argentina C | Add +77.2% | 0.66% | +0.24 |
| EDU New Oriental Educatio-SP ADR | New | 0.19% | +0.19 |
| BSAC Banco Santander-Chile-ADR | Add +0.1% | 0.75% | +0.05 |
| IQ Iqiyi Inc.-ADR | New | 0.04% | +0.04 |
| JXN Jackson Financial Inc. Class A | New | 0.03% | +0.03 |
| DAL Delta Air Lines Inc. | New | 0.02% | +0.02 |
| VZ Verizon Communications Inc. | Add +2.6% | 0.05% | +0.01 |
| KOS Kosmos Energy Ltd. | Add +4.5% | 1.33% | −0.02 |
Notes & Other Activity Q4 2023 → Q1 2024
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -4.1% | 18,800,000 | $19.0M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -11.8% | 17,200,000 | $16.1M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +31.8% | 14,500,000 | $13.4M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 11,300,000 | $11.2M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Add +2.7% | 11,400,000 | $10.6M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | New | 10,000,000 | $10.0M |
| BIOMARIN PHARMACEUTICAL (BMRN 0.599 08/01/24) | NOTE 0.599% 8/0 · principal | Sold out | 10,000,000 | $9.9Mbefore exit |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | Add +2.9% | 7,200,000 | $8.9M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | Add +31.1% | 8,000,000 | $8.6M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Reduce -4.0% | 7,200,000 | $8.4M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Sold out | 8,000,000 | $8.1Mbefore exit |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Add +27.3% | 7,000,000 | $7.2M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -22.7% | 6,800,000 | $7.0M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 4,600,000 | $7.0Mbefore exit |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Add +24.4% | 5,100,000 | $6.7M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Add +45.2% | 4,500,000 | $5.9M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | New | 6,000,000 | $5.8M |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | Add +9.3% | 4,700,000 | $5.5M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Sold out | 5,500,000 | $5.5Mbefore exit |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -6.7% | 4,200,000 | $5.2M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | New | 4,000,000 | $4.8M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | New | 5,500,000 | $4.8M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Add +25.0% | 5,000,000 | $4.8M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Reduce -41.5% | 3,800,000 | $4.5M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | New | 5,300,000 | $4.3M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | New | 4,500,000 | $4.2M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Add +15.2% | 3,800,000 | $4.0M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +31.3% | 4,200,000 | $4.0M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -24.5% | 4,000,000 | $3.9M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Add +660.0% | 3,800,000 | $3.8M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Add +52.0% | 3,800,000 | $3.7M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -22.2% | 3,500,000 | $3.5M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 3,700,000 | $3.5M |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | Sold out | 3,500,000 | $3.4Mbefore exit |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | New | 3,500,000 | $3.4M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Reduce -27.1% | 3,500,000 | $3.3M |
| CYBERARK SOFTWARE LTD (CYBR 0 11/15/24) | NOTE 11/1 · principal | Sold out | 2,300,000 | $3.3Mbefore exit |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | New | 3,500,000 | $3.2M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Reduce -48.5% | 1,700,000 | $2.8M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Add +25.0% | 2,500,000 | $2.8M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Reduce -14.3% | 3,000,000 | $2.7M |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | Sold out | 2,500,000 | $2.7Mbefore exit |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | New | 1,900,000 | $2.6M |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Add +22.7% | 2,700,000 | $2.5M |
| MICROSTRATEGY INC (MSTR 0.75 12/15/25) | NOTE 0.750%12/1 · principal | Sold out | 1,500,000 | $2.5Mbefore exit |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -18.5% | 2,200,000 | $2.5M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | New | 2,100,000 | $2.3M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Reduce -60.0% | 1,600,000 | $2.3M |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | New | 1,500,000 | $2.2M |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | Sold out | 1,400,000 | $2.1Mbefore exit |
Showing the first 50 of 56.
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 | 101 | $2.4B | M, SJM, KHC, CMCSA, HPQ |
| Q1 2026 | 118 | $2.2B | M, CMCSA, HPQ, KHC, EXC |
| Q4 2025 | 109 | $1.8B | M, HPQ, EXC, LEA, GFI |
| Q3 2025 | 117 | $1.8B | M, HPQ, EXC, LEA, CSCO |
| Q2 2025 | 102 | $1.6B | HPQ, M, EXC, CSCO, CEG |
| Q1 2025 | 85 | $1.6B | HPQ, EXC, M, B, CSCO |
| Q4 2024 | 89 | $1.7B | HPQ, EXC, CSCO, B, KDP |
| Q3 2024 | 69 | $1.4B | HPQ, CSCO, B, AMT, EXC |
| Q2 2024 | 54 | $1.2B | HPQ, CSCO, B, GFI, AMT |
| Q1 2024 | 57 | $1.3B | HPQ, QCOM, CSCO, B, GFI |