RWC Asset Management LLP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 1, 2024), RWC Asset Management LLP reported 54 stock positions worth $1.2 billion. Its top holding was HP (HPQ) at 11.5% of the portfolio, followed by Cisco Systems (CSCO, 6.4%) and Barrick Gold (B, 5.3%). Compared with Q1 2024, it opened 3 new positions, sold out of 6, added to 29 and reduced 13. The biggest buy was Kanzhun Ltd. - ADR (BZ, shares +76%) and the biggest sale an exit from Citigroup (C).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001520478
- Portfolio Value
- $1.2B (Q2 2024)
- SEC Filing
- 0001398344-24-013526 ↗ filed Aug 1, 2024
Holdings Value
Holdings 54 stocks · $1.2B
| HPQ HP Inc. | 11.53% | 3,822,079 | $133.8M | Reduce -6.2% |
| CSCO Cisco Systems Inc. | 6.42% | 1,569,567 | $74.6M | Add +0.4% |
| B Barrick Gold Corp. | 5.32% | 3,702,976 | $61.8M | Reduce -4.1% |
| GFI Gold Fields Ltd.-Spons ADR | 4.61% | 3,588,984 | $53.5M | Add +9.9% |
| AMT American Tower Corp. | 3.97% | 237,096 | $46.1M | Add +0.4% |
| MELI MercadoLibre Inc. | 3.49% | 24,657 | $40.5M | Add +11.2% |
| KDP Keurig Dr Pepper Inc. | 3.35% | 1,163,792 | $38.9M | Add +0.5% |
| OMC Omnicom Group | 3.33% | 430,753 | $38.6M | Add +0.5% |
| QCOM Qualcomm Inc. | 3.23% | 188,017 | $37.4M | Reduce -60.1% |
| SYY Sysco Corp. | 3.19% | 518,897 | $37.0M | Add +0.4% |
| JNJ Johnson & Johnson | 3.00% | 238,264 | $34.8M | Add +0.4% |
| PEP Pepsico Inc. | 2.92% | 205,735 | $33.9M | Add +0.4% |
| MRK Merck & Co. Inc. | 2.69% | 252,036 | $31.2M | Reduce -2.3% |
| CX Cemex Sab-Spons ADR Part Cer | 2.65% | 4,818,540 | $30.8M | Add +11.7% |
| PDD PDD Holdings Inc. | 2.53% | 220,683 | $29.3M | Add +20.1% |
| BZ Kanzhun Ltd. - ADR | 2.50% | 1,540,262 | $29.0M | Add +75.9% |
| INFY Infosys Ltd.-SP ADR | 2.23% | 1,390,865 | $25.9M | Add +0.5% |
| ABEV Ambev SA-ADR | 2.23% | 12,625,411 | $25.9M | Add +0.4% |
| PM Philip Morris International | 2.16% | 247,903 | $25.1M | Add +0.3% |
| PAYX Paychex Inc. | 2.10% | 206,035 | $24.4M | Reduce -2.6% |
| PG The Procter & Gamble Co. | 2.09% | 147,064 | $24.3M | Reduce -2.7% |
| PBR Petroleo Brasileiro-Spon ADR | 2.08% | 1,662,950 | $24.1M | Reduce -28.0% |
| CMS CMS Energy Corp. | 1.85% | 361,613 | $21.5M | Add +0.2% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 1.68% | 970,011 | $19.5M | Reduce -17.9% |
| BRX Brixmor Property Group Inc. | 1.65% | 831,076 | $19.2M | Add +0.5% |
| ES Eversource Energy | 1.64% | 335,696 | $19.0M | Add +0.3% |
| EXC Exelon Corp. | 1.58% | 531,474 | $18.4M | Add +0.5% |
| FRT Federal Realty Invs Trust | 1.52% | 174,848 | $17.7M | Add +0.4% |
| BSAC Banco Santander-Chile-ADR | 1.29% | 796,552 | $15.0M | Add +60.5% |
| KOS Kosmos Energy Ltd. | 1.20% | 2,518,711 | $14.0M | Reduce -14.5% |
| NEM Newmont Corp. | 1.18% | 326,214 | $13.7M | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 1.12% | 922,971 | $13.1M | New |
| BABA Alibaba Group Holding-SP ADR | 1.09% | 175,367 | $12.6M | Reduce -37.6% |
| VIST Vista Energy Sab DE CV | 1.07% | 273,164 | $12.4M | No change |
| GLOB Globant SA | 0.97% | 63,091 | $11.2M | New |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.84% | 1,444,375 | $9.8M | No change |
| LI Li Auto Inc. - ADR | 0.66% | 426,315 | $7.6M | Reduce -6.1% |
| GTE Gran Tierra Energy Inc. | 0.64% | 772,507 | $7.5M | No change |
| CPA Copa Holdings SA Class A | 0.47% | 57,506 | $5.5M | No change |
| LAR Lithium Americas Argentina C | 0.44% | 1,606,747 | $5.1M | No change |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.43% | 298,019 | $5.0M | No change |
| GGAL Grupo Financiero Galicia-ADR | 0.28% | 107,412 | $3.3M | Reduce -86.3% |
| TEO Telecom Argentina SA-SP ADR | 0.23% | 371,578 | $2.7M | No change |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 0.09% | 52,998 | $1.0M | No change |
| TAL Tal Education Group- ADR | 0.07% | 79,328 | $846K | Reduce -0.9% |
| IQ Iqiyi Inc.-ADR | 0.07% | 224,124 | $823K | Add +74.5% |
| VZ Verizon Communications Inc. | 0.06% | 16,070 | $663K | Add +3.5% |
| COF Capital One Financial Corp. | 0.05% | 3,894 | $539K | Add +4.8% |
| JXN Jackson Financial Inc. Class A | 0.04% | 6,210 | $461K | Add +8.3% |
| SYF Synchrony Financial | 0.04% | 9,247 | $436K | Add +8.4% |
| LEA Lear Corp. | 0.04% | 3,763 | $430K | Add +9.0% |
| IPG Interpublic Group of Cos Inc. | 0.03% | 12,899 | $375K | Add +4.8% |
| DAL Delta Air Lines Inc. | 0.03% | 7,636 | $362K | Add +33.4% |
| LLY Eli Lilly & Co. | 0.03% | 362 | $328K | New |
Other holdings (48): bonds, preferreds, convertibles and warrants · $258.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 17,000,000 | $16.6M | New |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 14,500,000 | $13.3M | Reduce -15.7% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 13,000,000 | $12.5M | Add +15.0% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 10,000,000 | $10.2M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 9,000,000 | $9.4M | New |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 8,000,000 | $9.0M | No change |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 8,500,000 | $8.5M | Reduce -54.8% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 8,500,000 | $8.5M | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 8,500,000 | $8.1M | Add +142.9% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 8,000,000 | $7.9M | New |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | 6,400,000 | $7.8M | Reduce -11.1% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 7,200,000 | $7.5M | No change |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 6,700,000 | $7.4M | Add +3.1% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 6,800,000 | $6.9M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 6,800,000 | $6.6M | Add +28.3% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 4,800,000 | $5.8M | Reduce -5.9% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 6,000,000 | $5.8M | No change |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 4,400,000 | $5.7M | Reduce -6.4% |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 5,000,000 | $5.4M | Add +31.6% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 6,000,000 | $5.4M | New |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 3,900,000 | $5.2M | New |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 4,600,000 | $5.0M | Add +9.5% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 4,200,000 | $4.7M | Reduce -6.7% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 4,000,000 | $4.5M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 4,000,000 | $4.4M | No change |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 4,300,000 | $4.1M | Add +186.7% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 3,700,000 | $4.1M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 4,200,000 | $4.1M | Reduce -37.3% |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | 4,300,000 | $3.8M | No change |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 3,500,000 | $3.8M | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 3,800,000 | $3.8M | No change |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 3,800,000 | $3.8M | No change |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 3,000,000 | $3.2M | No change |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 3,500,000 | $3.2M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 3,500,000 | $3.2M | Reduce -22.2% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 3,000,000 | $3.2M | Reduce -25.0% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,500,000 | $3.1M | No change |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 2,500,000 | $2.9M | Reduce -40.5% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 3,000,000 | $2.7M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 3,300,000 | $2.7M | Add +22.2% |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | 1,600,000 | $2.5M | Reduce -15.8% |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 1,600,000 | $2.3M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 2,100,000 | $2.1M | No change |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 2,200,000 | $2.1M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,700,000 | $2.0M | Reduce -32.0% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 1,500,000 | $2.0M | New |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 1,700,000 | $1.9M | Reduce -22.7% |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 500,000 | $491K | No change |
Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q1 2024 → Q2 2024
| C Citigroup Inc. | Sold out | 0.00% | −2.96 |
| QCOM Qualcomm Inc. | Reduce -60.1% | 3.23% | −2.82 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −1.71 |
| VALE Vale SA-SP ADR | Sold out | 0.00% | −1.67 |
| GGAL Grupo Financiero Galicia-ADR | Reduce -86.3% | 0.28% | −1.23 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −1.05 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -28.0% | 2.08% | −0.59 |
| BABA Alibaba Group Holding-SP ADR | Reduce -37.6% | 1.09% | −0.46 |
| SCCO Southern Copper Corp. | Sold out | 0.00% | −0.40 |
| LI Li Auto Inc. - ADR | Reduce -6.1% | 0.66% | −0.39 |
| EDU New Oriental Educatio-SP ADR | Sold out | 0.00% | −0.19 |
| KOS Kosmos Energy Ltd. | Reduce -14.5% | 1.20% | −0.13 |
| YPF YPF S.A.-Sponsored ADR | Reduce -17.9% | 1.68% | −0.09 |
| TAL Tal Education Group- ADR | Reduce -0.9% | 0.07% | +0.00 |
| MRK Merck & Co. Inc. | Reduce -2.3% | 2.69% | +0.11 |
| PAYX Paychex Inc. | Reduce -2.6% | 2.10% | +0.13 |
| PG The Procter & Gamble Co. | Reduce -2.7% | 2.09% | +0.23 |
| B Barrick Gold Corp. | Reduce -4.1% | 5.32% | +0.45 |
| HPQ HP Inc. | Reduce -6.2% | 11.53% | +2.19 |
Portfolio Buys Q1 2024 → Q2 2024
| BZ Kanzhun Ltd. - ADR | Add +75.9% | 2.50% | +1.33 |
| BEKE Ke Holdings Inc.-ADR | New | 1.12% | +1.12 |
| GLOB Globant SA | New | 0.97% | +0.97 |
| MELI MercadoLibre Inc. | Add +11.2% | 3.49% | +0.95 |
| PDD PDD Holdings Inc. | Add +20.1% | 2.53% | +0.91 |
| GFI Gold Fields Ltd.-Spons ADR | Add +9.9% | 4.61% | +0.67 |
| KDP Keurig Dr Pepper Inc. | Add +0.5% | 3.35% | +0.65 |
| BSAC Banco Santander-Chile-ADR | Add +60.5% | 1.29% | +0.55 |
| CSCO Cisco Systems Inc. | Add +0.4% | 6.42% | +0.51 |
| PM Philip Morris International | Add +0.3% | 2.16% | +0.45 |
| AMT American Tower Corp. | Add +0.4% | 3.97% | +0.43 |
| INFY Infosys Ltd.-SP ADR | Add +0.5% | 2.23% | +0.35 |
| CMS CMS Energy Corp. | Add +0.2% | 1.85% | +0.20 |
| PEP Pepsico Inc. | Add +0.4% | 2.92% | +0.20 |
| BRX Brixmor Property Group Inc. | Add +0.5% | 1.65% | +0.18 |
| OMC Omnicom Group | Add +0.5% | 3.33% | +0.18 |
| FRT Federal Realty Invs Trust | Add +0.4% | 1.52% | +0.17 |
| JNJ Johnson & Johnson | Add +0.4% | 3.00% | +0.15 |
| ES Eversource Energy | Add +0.3% | 1.64% | +0.12 |
| EXC Exelon Corp. | Add +0.5% | 1.58% | +0.08 |
| IQ Iqiyi Inc.-ADR | Add +74.5% | 0.07% | +0.03 |
| LLY Eli Lilly & Co. | New | 0.03% | +0.03 |
| JXN Jackson Financial Inc. Class A | Add +8.3% | 0.04% | +0.01 |
| DAL Delta Air Lines Inc. | Add +33.4% | 0.03% | +0.01 |
| SYF Synchrony Financial | Add +8.4% | 0.04% | +0.01 |
| SYY Sysco Corp. | Add +0.4% | 3.19% | +0.01 |
| VZ Verizon Communications Inc. | Add +3.5% | 0.06% | +0.01 |
| COF Capital One Financial Corp. | Add +4.8% | 0.05% | +0.00 |
| IPG Interpublic Group of Cos Inc. | Add +4.8% | 0.03% | +0.00 |
| LEA Lear Corp. | Add +9.0% | 0.04% | −0.00 |
| ABEV Ambev SA-ADR | Add +0.4% | 2.23% | −0.14 |
| CX Cemex Sab-Spons ADR Part Cer | Add +11.7% | 2.65% | −0.30 |
Notes & Other Activity Q1 2024 → Q2 2024
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | New | 17,000,000 | $16.6M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Sold out | 14,500,000 | $13.4Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -15.7% | 14,500,000 | $13.3M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +15.0% | 13,000,000 | $12.5M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Sold out | 11,400,000 | $10.6Mbefore exit |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | New | 9,000,000 | $9.4M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -54.8% | 8,500,000 | $8.5M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | New | 8,500,000 | $8.5M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +142.9% | 8,500,000 | $8.1M |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | New | 8,000,000 | $7.9M |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | Reduce -11.1% | 6,400,000 | $7.8M |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | Add +3.1% | 6,700,000 | $7.4M |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Sold out | 7,000,000 | $7.2Mbefore exit |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +28.3% | 6,800,000 | $6.6M |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Reduce -5.9% | 4,800,000 | $5.8M |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | Reduce -6.4% | 4,400,000 | $5.7M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Add +31.6% | 5,000,000 | $5.4M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | New | 6,000,000 | $5.4M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | New | 3,900,000 | $5.2M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +9.5% | 4,600,000 | $5.0M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | Sold out | 5,500,000 | $4.8Mbefore exit |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Sold out | 5,000,000 | $4.8Mbefore exit |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Reduce -6.7% | 4,200,000 | $4.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 3,800,000 | $4.5Mbefore exit |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | Add +186.7% | 4,300,000 | $4.1M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | New | 3,700,000 | $4.1M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Reduce -37.3% | 4,200,000 | $4.1M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Sold out | 3,700,000 | $3.5Mbefore exit |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | Sold out | 3,500,000 | $3.4Mbefore exit |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Reduce -22.2% | 3,500,000 | $3.2M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -25.0% | 3,000,000 | $3.2M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -40.5% | 2,500,000 | $2.9M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Sold out | 1,700,000 | $2.8Mbefore exit |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Add +22.2% | 3,300,000 | $2.7M |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | Reduce -15.8% | 1,600,000 | $2.5M |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Sold out | 1,500,000 | $2.2Mbefore exit |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | New | 2,200,000 | $2.1M |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | Sold out | 1,400,000 | $2.0Mbefore exit |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | Sold out | 700,000 | $2.0Mbefore exit |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Reduce -32.0% | 1,700,000 | $2.0M |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | New | 1,500,000 | $2.0M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Sold out | 1,000,000 | $1.9Mbefore exit |
| MICROCHIP TECHNOLOGY INC (MCHP 0.125 11/15/24) | NOTE 0.125%11/1 · principal | Sold out | 1,800,000 | $1.9Mbefore exit |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -22.7% | 1,700,000 | $1.9M |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | Sold out | 1,600,000 | $1.7Mbefore 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 | 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 |