Soros Fund Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), George Soros's Soros Fund Management reported 162 stock positions worth $4.0 billion. Its top holding was Smurfit Westrock (SW) at 7.8% of the portfolio, followed by Astrazeneca PLC-Spons ADR (AZN, 5.1%) and SS SPDR S&P 500 ETF Trust-US (SPY, 4.4%). Compared with Q4 2024, it opened 75 new positions, sold out of 59, added to 40 and reduced 38. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +166%) and the biggest sale Alphabet Class A (GOOGL, shares −63%).
- Most Recent 13F
- Q2 2026
- Notable People
- George Soros
- Location
- NEW YORK, NY
- CIK
- 0001029160
- Portfolio Value
- $4.0B (Q1 2025)
- SEC Filing
- 0000902664-25-002391 ↗ filed May 15, 2025
Holdings Value
Holdings 162 stocks · $4.0B
| SW Smurfit Westrock PLC | 7.78% | 6,852,665 | $308.8M | Reduce -2.8% |
| AZN Astrazeneca PLC-Spons ADR | 5.08% | 2,742,498 | $201.6M | Reduce -13.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.42% | 313,800 | $175.5M | Add +165.9% |
| GFL GFL Environmental Inc.-Sub VT | 3.70% | 3,043,290 | $147.0M | Reduce -5.0% |
| AER Aercap Holdings NV | 3.29% | 1,279,744 | $130.8M | Reduce -13.9% |
| FLUT Flutter Entertainment PLC-Di | 3.24% | 580,743 | $128.7M | Add +285.0% |
| AEP American Electric Power | 2.42% | 878,960 | $96.0M | New |
| LBRDK Liberty Broadband-C | 2.40% | 1,119,893 | $95.2M | No change |
| ETR Entergy Corp. | 2.36% | 1,095,279 | $93.6M | New |
| CRM Salesforce Inc. | 2.32% | 342,831 | $92.0M | Add +15.3% |
| AMZN Amazon.com Inc. | 2.08% | 433,641 | $82.5M | Add +30.5% |
| GOOGL Alphabet Inc. Class A | 1.94% | 497,458 | $76.9M | Reduce -62.6% |
| SARO Standardaero Inc. | 1.81% | 2,701,218 | $72.0M | Add +119.1% |
| GS Goldman Sachs Group Inc. | 1.67% | 121,403 | $66.3M | Add +524.2% |
| JPM JPMorgan Chase & Co. | 1.43% | 230,963 | $56.7M | New |
| TKO Tko Group Holdings Inc. | 1.30% | 337,726 | $51.6M | New |
| CYBR Cyberark Software Ltd./Israel | 1.25% | 147,127 | $49.7M | Add +4.8% |
| ULS Ul Solutions Inc. Class A | 1.23% | 866,254 | $48.9M | Reduce -21.3% |
| NDAQ Nasdaq Inc. | 1.20% | 625,634 | $47.5M | Add +25.1% |
| UBER Uber Technologies Inc. | 1.17% | 638,218 | $46.5M | Reduce -29.4% |
| ASHR Xtrackers Harvest Csi 300 CH | 1.14% | 1,700,000 | $45.2M | New |
| CRBG Corebridge Financial Inc. | 1.08% | 1,362,850 | $43.0M | Add +105.2% |
| CP Canadian Pacific Kansas City | 1.05% | 594,960 | $41.8M | Add +117.4% |
| ACN Accenture PLC Class A | 1.04% | 132,482 | $41.3M | Reduce -28.3% |
| LPLA LPL Financial Holdings Inc. | 1.03% | 125,000 | $40.9M | New |
| FSLR First Solar Inc. | 0.98% | 307,144 | $38.8M | Add +41.8% |
| UNH Unitedhealth Group Inc. | 0.94% | 71,100 | $37.2M | Reduce -8.7% |
| CRH CRH PLC | 0.91% | 412,487 | $36.3M | Reduce -16.5% |
| IBKR Interactive Brokers Gro Class A | 0.83% | 198,157 | $32.8M | Reduce -11.0% |
| ATI Ati Inc. | 0.80% | 613,884 | $31.9M | Add +56.8% |
| LVS Las Vegas Sands Corp. | 0.79% | 806,962 | $31.2M | New |
| ITRI Itron Inc. | 0.78% | 296,000 | $31.0M | Reduce -3.0% |
| RUN Sunrun Inc. | 0.77% | 5,189,486 | $30.4M | Add +209.7% |
| BHF Brighthouse Financial Inc. | 0.76% | 516,904 | $30.0M | New |
| DDOG Datadog Inc. Class A | 0.75% | 299,958 | $29.8M | Add +56.1% |
| ESGR Enstar Group Ltd. | 0.71% | 85,192 | $28.3M | New |
| JWN Nordstrom Inc. | 0.70% | 1,129,912 | $27.6M | New |
| FDX FedEx Corp. | 0.68% | 111,448 | $27.2M | Add +278.1% |
| NBIX Neurocrine Biosciences Inc. | 0.67% | 239,823 | $26.5M | Add +19.9% |
| BGC BGC Group Inc. Class A | 0.65% | 2,812,453 | $25.8M | Add +40.0% |
| K Kellanova | 0.64% | 309,119 | $25.5M | New |
| MUB iShares National Muni Bond E | 0.64% | 241,400 | $25.5M | No change |
| ED Consolidated Edison Inc. | 0.63% | 225,350 | $24.9M | New |
| TECK Teck Resources Ltd.-CLS B | 0.61% | 667,818 | $24.3M | Add +92.4% |
| INSM Insmed Inc. | 0.59% | 307,211 | $23.4M | Reduce -32.5% |
| VIK Viking Holdings Ltd. | 0.56% | 557,680 | $22.2M | Reduce -38.0% |
| HEES H&E Equipment Services Inc. | 0.56% | 233,027 | $22.1M | New |
| GLW Corning Inc. | 0.54% | 470,000 | $21.5M | Add +16.1% |
| PLYA Playa Hotels & Resorts NV | 0.54% | 1,608,579 | $21.4M | New |
| ADI Analog Devices Inc. | 0.54% | 106,200 | $21.4M | New |
| VFH Vanguard Financials ETF | 0.53% | 174,588 | $20.9M | No change |
| SNOW Snowflake Inc. | 0.52% | 141,322 | $20.7M | Add +68.8% |
| DNB Dun & Bradstreet Holdings Inc. | 0.52% | 2,300,000 | $20.6M | New |
| SWTX Springworks Therapeutics Inc. | 0.51% | 456,832 | $20.2M | Reduce -23.9% |
| IEX Idex Corp. | 0.50% | 109,262 | $19.8M | Add +257.6% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.49% | 354,686 | $19.5M | No change |
| SAIL Sailpoint Inc. | 0.49% | 1,034,730 | $19.4M | New |
| SLNO Soleno Therapeutics Inc. | 0.49% | 270,663 | $19.3M | New |
| DASH DoorDash Inc. Class A | 0.49% | 105,422 | $19.3M | Reduce -31.7% |
| CSX CSX Corp. | 0.48% | 652,526 | $19.2M | Reduce -7.6% |
| HUBS HubSpot Inc. | 0.47% | 32,623 | $18.6M | New |
| NOC Northrop Grumman Corp. | 0.46% | 35,925 | $18.4M | New |
| BERY Berry Global Group Inc. | 0.46% | 261,662 | $18.3M | New |
| PRMB Primo Brands Corp. | 0.44% | 490,909 | $17.4M | New |
| KKR KKR & Co. Inc. | 0.43% | 148,147 | $17.1M | New |
| PDCO Patterson Cos Inc. | 0.43% | 545,179 | $17.0M | New |
| SGI Somnigroup International Inc. | 0.43% | 283,195 | $17.0M | New |
| PONY Pony AI Inc. | 0.42% | 1,901,848 | $16.8M | Add +114.6% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.41% | 60,000 | $16.2M | New |
| KEY Keycorp | 0.40% | 995,600 | $15.9M | Add +20.5% |
| AUR Aurora Innovation Inc. | 0.40% | 2,357,685 | $15.9M | Add +171.6% |
| WWD Woodward Inc. | 0.39% | 84,586 | $15.4M | New |
| ITCI Intra-Cellular Therapies Inc. | 0.39% | 116,588 | $15.4M | New |
| ATSG Air Transport Services Group | 0.38% | 677,819 | $15.2M | New |
| AS Amer Sports Inc. | 0.37% | 550,270 | $14.7M | Add +0.1% |
| KRMN Karman Holdings Inc. | 0.37% | 438,580 | $14.7M | New |
| LEU Centrus Energy Corp. Class A | 0.37% | 233,305 | $14.5M | Add +4.9% |
| NKE Nike Inc. Class B | 0.36% | 227,320 | $14.4M | Add +40.0% |
| PTVE Pactiv Evergreen Inc. | 0.36% | 790,220 | $14.2M | New |
| WDC Western Digital Corp. | 0.36% | 350,000 | $14.2M | New |
| LOAR Loar Holdings Inc. | 0.35% | 196,356 | $13.9M | Reduce -12.7% |
| OC Owens Corning | 0.35% | 96,251 | $13.7M | New |
| TLT iShares 20+ Year Treasury BD | 0.34% | 150,000 | $13.7M | Add +50.0% |
| EOLS Evolus Inc. | 0.30% | 995,485 | $12.0M | Reduce -9.5% |
| GL Globe Life Inc. | 0.30% | 89,600 | $11.8M | Add +86.7% |
| ALLY Ally Financial Inc. | 0.29% | 320,973 | $11.7M | New |
| ONB Old National Bancorp | 0.28% | 525,785 | $11.1M | Reduce -52.8% |
| WAY Waystar Holding Corp. | 0.28% | 296,354 | $11.1M | Add +18.5% |
| ADT Adt Inc. | 0.28% | 1,359,600 | $11.1M | New |
| TGI Triumph Group Inc. | 0.28% | 433,839 | $11.0M | New |
| ASTS Ast Spacemobile Inc. | 0.27% | 470,000 | $10.7M | New |
| ALL Allstate Corp. | 0.26% | 50,270 | $10.4M | Reduce -29.6% |
| MCK McKesson Corp. | 0.25% | 15,000 | $10.1M | New |
| FCNCA First Citizens Bcshs Class A | 0.25% | 5,444 | $10.1M | Add +9.4% |
| BSX Boston Scientific Corp. | 0.25% | 100,000 | $10.1M | No change |
| OS Onestream Inc. | 0.25% | 467,850 | $10.0M | Reduce -62.6% |
| ALK Alaska Air Group Inc. | 0.23% | 186,448 | $9.2M | Add +6.0% |
| AZEK The Azek Co. Inc. | 0.23% | 185,000 | $9.0M | New |
| AAMI Acadian Asset Management Inc. | 0.23% | 346,293 | $9.0M | No change |
| NOW ServiceNow Inc. | 0.21% | 10,542 | $8.4M | Add +37.2% |
| WBA Walgreens Boots Alliance Inc. | 0.21% | 750,000 | $8.4M | New |
| IPG Interpublic Group of Cos Inc. | 0.21% | 305,560 | $8.3M | New |
| DHR Danaher Corp. | 0.21% | 40,000 | $8.2M | Reduce -69.3% |
| FXI iShares China Large-Cap ETF | 0.20% | 225,000 | $8.1M | New |
| RDFN Redfin Corp. | 0.20% | 870,230 | $8.0M | New |
| CME Cme Group Inc. | 0.20% | 30,028 | $8.0M | No change |
| RPD RAPID7 Inc. | 0.20% | 298,237 | $7.9M | Add +57.2% |
| KWEB Kranesh Csi China Internet | 0.20% | 225,404 | $7.9M | Reduce -88.1% |
| AA Alcoa Corp. | 0.19% | 250,192 | $7.6M | New |
| CARR Carrier Global Corp. | 0.19% | 119,636 | $7.6M | New |
| ZWS Zurn Elkay Water Solutions C | 0.19% | 225,370 | $7.4M | New |
| SYF Synchrony Financial | 0.18% | 138,402 | $7.3M | Reduce -80.4% |
| ITGR Integer Holdings Corp. | 0.18% | 61,783 | $7.3M | New |
| JD Jd.com Inc.-ADR | 0.18% | 175,000 | $7.2M | Reduce -93.6% |
| AMAT Applied Materials Inc. | 0.18% | 49,518 | $7.2M | New |
| NBIS Nebius Group NV | 0.18% | 333,333 | $7.0M | Reduce -31.3% |
| BKNG Booking Holdings Inc. | 0.17% | 1,500 | $6.9M | Reduce -28.3% |
| FBMS First Bancshares Inc. | 0.17% | 197,205 | $6.7M | New |
| DESP Despegar.com Corp. | 0.17% | 352,384 | $6.6M | New |
| NVDA Nvidia Corp. | 0.16% | 57,753 | $6.3M | New |
| LCII Lci Industries | 0.16% | 70,740 | $6.2M | New |
| LAZ Lazard Inc. | 0.15% | 133,950 | $5.8M | Add +15.8% |
| SFD Smithfield Foods Inc. | 0.14% | 276,560 | $5.6M | New |
| DHI D.R. Horton Inc. | 0.14% | 43,700 | $5.6M | Reduce -73.1% |
| FSUN Firstsun Capital Bancorp | 0.14% | 150,000 | $5.4M | New |
| TDY Teledyne Technologies Inc. | 0.12% | 9,264 | $4.6M | Reduce -41.0% |
| TTAM Titan America SA | 0.11% | 325,694 | $4.4M | New |
| RKT Rocket Cos Inc. Class A | 0.11% | 360,400 | $4.4M | New |
| EWC iShares MSCI Canada ETF | 0.10% | 97,700 | $4.0M | No change |
| BOW Bowhead Specialty Holdings I | 0.10% | 96,254 | $3.9M | New |
| ALKT Alkami Technology Inc. | 0.10% | 148,700 | $3.9M | New |
| FG F&G Annuities & Life Inc. | 0.09% | 100,000 | $3.6M | New |
| UCB United Community Banks | 0.09% | 120,000 | $3.4M | New |
| EVGO Evgo Inc. | 0.08% | 1,125,400 | $3.0M | Add +99.2% |
| CFLT Confluent Inc. Class A | 0.07% | 125,000 | $2.9M | New |
| CRWV Coreweave Inc. Class A | 0.07% | 75,000 | $2.8M | New |
| TTAN Servicetitan Inc. Class A | 0.07% | 27,356 | $2.6M | Add +9.4% |
| NET Cloudflare Inc. Class A | 0.07% | 22,951 | $2.6M | New |
| PENN Penn Entertainment Inc. | 0.06% | 150,000 | $2.4M | Reduce -63.7% |
| SPNT Siriuspoint Ltd. | 0.06% | 138,678 | $2.4M | New |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.05% | 20,000 | $2.2M | Reduce -96.5% |
| HG Hamilton Insurance Grou Class B | 0.05% | 100,000 | $2.1M | Reduce -50.0% |
| AFRM Affirm Holdings Inc. | 0.05% | 45,000 | $2.0M | New |
| SYRE Spyre Therapeutics Inc. | 0.05% | 125,000 | $2.0M | Reduce -50.0% |
| SPSB SS SPDR P St C Corp. ETF | 0.05% | 65,336 | $2.0M | Add +29.9% |
| EQH Equitable Holdings Inc. | 0.05% | 37,500 | $2.0M | New |
| PSN Parsons Corp. | 0.05% | 30,751 | $1.8M | New |
| CIFR Cipher Digital Inc. | 0.04% | 775,956 | $1.8M | New |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 0.04% | 150,000 | $1.7M | Reduce -68.4% |
| NPB Northpointe Bancshares Inc. | 0.04% | 100,358 | $1.4M | New |
| GME Gamestop Corp. Class A | 0.03% | 60,500 | $1.4M | New |
| PACB Pacific Biosciences of Calif | 0.03% | 1,000,000 | $1.2M | Reduce -57.9% |
| PCG P G & E Corp. | 0.02% | 57,542 | $989K | Reduce -47.2% |
| EFSI Eagle Financial Services Inc. | 0.02% | 25,000 | $820K | New |
| XLF SS Financial Select Sector | 0.02% | 12,270 | $611K | No change |
| CBLL Ceribell Inc. | 0.01% | 25,356 | $487K | Add +1.4% |
| SASR Sandy Spring Bancorp Inc. | 0.01% | 15,458 | $432K | New |
| KMTS Kestra Medical Technologies | 0.01% | 15,000 | $374K | New |
| BBNX Beta Bionics Inc. | 0.01% | 25,968 | $318K | New |
| XAIR Beyond Air Inc. | 0.00% | 500,000 | $136K | Reduce -50.0% |
| GOOG Alphabet Inc. Class C | 0.00% | 633 | $99K | Add +8.9% |
| GRAB Grab Holdings Ltd. Class A | 0.00% | 12,258 | $56K | New |
Options reported separately and not counted above: FSLR calls ($202.3M), TLT calls ($195.7M), SPY puts ($111.9M), AAPL puts ($100.0M), XLE puts ($70.1M), FXI puts ($53.8M), UNH puts ($52.4M), IWM puts ($49.9M), ASHR puts ($37.2M), ALLY puts ($36.5M), NET calls ($33.8M), XOP puts ($32.9M), and 8 more.
Other holdings (27): bonds, preferreds, convertibles and warrants · $1.6B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 159,436,000 | $156.0M | Reduce -6.5% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 166,500,000 | $155.3M | Add +16.2% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 129,500,000 | $154.5M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 136,500,000 | $148.1M | New |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 131,250,000 | $129.5M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 100,000,000 | $98.5M | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 94,000,000 | $92.2M | Add +50.4% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 94,754,000 | $91.0M | No change |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 79,136,000 | $77.6M | No change |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 72,250,000 | $66.4M | Add +23.5% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 70,000,000 | $64.7M | Add +288.9% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 60,000,000 | $64.3M | New |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 60,000,000 | $63.7M | New |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 72,500,000 | $63.0M | Add +52.6% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 35,000,000 | $36.0M | New |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 30,500,000 | $28.2M | Add +369.2% |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 34,950,000 | $24.9M | New |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 21,250,000 | $22.0M | No change |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | 73,000,000 | $19.0M | Reduce -18.9% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 19,300,000 | $18.9M | Reduce -89.8% |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | 30,000,000 | $17.9M | No change |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | 74,000,000 | $17.5M | Reduce -25.3% |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 10,500,000 | $10.0M | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 10,000,000 | $9.7M | Reduce -56.5% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 10,000,000 | $8.5M | No change |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 1,500,000 | $1.3M | New |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 1,000,000 | $952K | No change |
Total filed on the 13F, all lines: $5.6B.
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -62.6% | 1.94% | −4.44 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −4.20 |
| JD Jd.com Inc.-ADR | Reduce -93.6% | 0.18% | −2.22 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −2.15 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −1.82 |
| SW Smurfit Westrock PLC | Reduce -2.8% | 7.78% | −1.82 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -96.5% | 0.05% | −1.49 |
| KWEB Kranesh Csi China Internet | Reduce -88.1% | 0.20% | −1.21 |
| J Jacobs Solutions Inc. | Sold out | 0.00% | −1.01 |
| SYF Synchrony Financial | Reduce -80.4% | 0.18% | −0.98 |
| VTR Ventas Inc. | Sold out | 0.00% | −0.82 |
| SRPT Sarepta Therapeutics Inc. | Sold out | 0.00% | −0.71 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.71 |
| VLY Valley National Bancorp | Sold out | 0.00% | −0.69 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.66 |
| OS Onestream Inc. | Reduce -62.6% | 0.25% | −0.65 |
| ACN Accenture PLC Class A | Reduce -28.3% | 1.04% | −0.60 |
| CG The Carlyle Group Inc. | Sold out | 0.00% | −0.59 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −0.57 |
| AUB Atlantic Union Bankshares Co. | Sold out | 0.00% | −0.55 |
| DHR Danaher Corp. | Reduce -69.3% | 0.21% | −0.55 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.53 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −0.53 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.48 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.47 |
| VIK Viking Holdings Ltd. | Reduce -38.0% | 0.56% | −0.44 |
| DHI D.R. Horton Inc. | Reduce -73.1% | 0.14% | −0.43 |
| ADC Agree Realty Corp. | Sold out | 0.00% | −0.38 |
| PRVA Privia Health Group Inc. | Sold out | 0.00% | −0.35 |
| ONB Old National Bancorp | Reduce -52.8% | 0.28% | −0.33 |
| AER Aercap Holdings NV | Reduce -13.9% | 3.29% | −0.30 |
| ORA Ormat Technologies Inc. | Sold out | 0.00% | −0.26 |
| XHB SS SPDR S&P Homebldrs ETF | Sold out | 0.00% | −0.25 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.24 |
| CRH CRH PLC | Reduce -16.5% | 0.91% | −0.24 |
| ASB Associated Banc-Corp. | Sold out | 0.00% | −0.24 |
| BA The Boeing Co. | Sold out | 0.00% | −0.24 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.24 |
| CTRE Caretrust REIT Inc. | Sold out | 0.00% | −0.24 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.22 |
| WULF Terawulf Inc. | Sold out | 0.00% | −0.22 |
| UBER Uber Technologies Inc. | Reduce -29.4% | 1.17% | −0.21 |
| INSM Insmed Inc. | Reduce -32.5% | 0.59% | −0.20 |
| RNR Renaissancere Holdings Ltd. | Sold out | 0.00% | −0.20 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −0.20 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.19 |
| DASH DoorDash Inc. Class A | Reduce -31.7% | 0.49% | −0.17 |
| IBKR Interactive Brokers Gro Class A | Reduce -11.0% | 0.83% | −0.17 |
| AIG American International Group | Sold out | 0.00% | −0.17 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −0.16 |
Portfolio Buys Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +165.9% | 4.42% | +2.67 |
| AEP American Electric Power | New | 2.42% | +2.42 |
| ETR Entergy Corp. | New | 2.36% | +2.36 |
| FLUT Flutter Entertainment PLC-Di | Add +285.0% | 3.24% | +2.25 |
| JPM JPMorgan Chase & Co. | New | 1.43% | +1.43 |
| GS Goldman Sachs Group Inc. | Add +524.2% | 1.67% | +1.39 |
| TKO Tko Group Holdings Inc. | New | 1.30% | +1.30 |
| ASHR Xtrackers Harvest Csi 300 CH | New | 1.14% | +1.14 |
| SARO Standardaero Inc. | Add +119.1% | 1.81% | +1.04 |
| LPLA LPL Financial Holdings Inc. | New | 1.03% | +1.03 |
| LVS Las Vegas Sands Corp. | New | 0.79% | +0.79 |
| BHF Brighthouse Financial Inc. | New | 0.76% | +0.76 |
| ESGR Enstar Group Ltd. | New | 0.71% | +0.71 |
| JWN Nordstrom Inc. | New | 0.70% | +0.70 |
| K Kellanova | New | 0.64% | +0.64 |
| ED Consolidated Edison Inc. | New | 0.63% | +0.63 |
| CRBG Corebridge Financial Inc. | Add +105.2% | 1.08% | +0.58 |
| HEES H&E Equipment Services Inc. | New | 0.56% | +0.56 |
| CP Canadian Pacific Kansas City | Add +117.4% | 1.05% | +0.55 |
| PLYA Playa Hotels & Resorts NV | New | 0.54% | +0.54 |
| ADI Analog Devices Inc. | New | 0.54% | +0.54 |
| DNB Dun & Bradstreet Holdings Inc. | New | 0.52% | +0.52 |
| SAIL Sailpoint Inc. | New | 0.49% | +0.49 |
| SLNO Soleno Therapeutics Inc. | New | 0.49% | +0.49 |
| FDX FedEx Corp. | Add +278.1% | 0.68% | +0.47 |
| HUBS HubSpot Inc. | New | 0.47% | +0.47 |
| NOC Northrop Grumman Corp. | New | 0.46% | +0.46 |
| BERY Berry Global Group Inc. | New | 0.46% | +0.46 |
| PRMB Primo Brands Corp. | New | 0.44% | +0.44 |
| KKR KKR & Co. Inc. | New | 0.43% | +0.43 |
| PDCO Patterson Cos Inc. | New | 0.43% | +0.43 |
| SGI Somnigroup International Inc. | New | 0.43% | +0.43 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.41% | +0.41 |
| WWD Woodward Inc. | New | 0.39% | +0.39 |
| ITCI Intra-Cellular Therapies Inc. | New | 0.39% | +0.39 |
| ATSG Air Transport Services Group | New | 0.38% | +0.38 |
| RUN Sunrun Inc. | Add +209.7% | 0.77% | +0.37 |
| KRMN Karman Holdings Inc. | New | 0.37% | +0.37 |
| PTVE Pactiv Evergreen Inc. | New | 0.36% | +0.36 |
| WDC Western Digital Corp. | New | 0.36% | +0.36 |
| OC Owens Corning | New | 0.35% | +0.35 |
| IEX Idex Corp. | Add +257.6% | 0.50% | +0.34 |
| ALLY Ally Financial Inc. | New | 0.29% | +0.29 |
| ADT Adt Inc. | New | 0.28% | +0.28 |
| TGI Triumph Group Inc. | New | 0.28% | +0.28 |
| ASTS Ast Spacemobile Inc. | New | 0.27% | +0.27 |
| AUR Aurora Innovation Inc. | Add +171.6% | 0.40% | +0.26 |
| ATI Ati Inc. | Add +56.8% | 0.80% | +0.26 |
| TECK Teck Resources Ltd.-CLS B | Add +92.4% | 0.61% | +0.26 |
| MCK McKesson Corp. | New | 0.25% | +0.25 |
Options Activity Q4 2024 → Q1 2025
| FSLR First Solar Inc. | call | New | 1,600,000 | $202.3M |
| TLT iShares 20+ Year Treasury BD | call | Add +64.1% | 2,150,000 | $195.7M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -33.3% | 200,000 | $111.9M |
| AAPL Apple Inc. | put | Add +200.0% | 450,000 | $100.0M |
| KWEB Kranesh Csi China Internet | put | Sold out | 3,000,000 | $87.7Mbefore exit |
| XLE SS Energy Select Sector | put | New | 750,000 | $70.1M |
| JD Jd.com Inc.-ADR | put | Sold out | 1,750,000 | $60.7Mbefore exit |
| KWEB Kranesh Csi China Internet | call | Sold out | 2,000,000 | $58.5Mbefore exit |
| FXI iShares China Large-Cap ETF | put | New | 1,500,000 | $53.8M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Sold out | 500,000 | $53.4Mbefore exit |
| UNH Unitedhealth Group Inc. | put | New | 100,000 | $52.4M |
| BABA Alibaba Group Holding-SP ADR | call | Sold out | 600,000 | $50.9Mbefore exit |
| IWM iShares Russell 2000 ETF | put | Reduce -66.7% | 250,000 | $49.9M |
| JETS US Global Jets ETF | call | Sold out | 1,500,000 | $38.0Mbefore exit |
| ASHR Xtrackers Harvest Csi 300 CH | put | New | 1,400,000 | $37.2M |
| ALLY Ally Financial Inc. | put | New | 1,000,000 | $36.5M |
| NET Cloudflare Inc. Class A | call | New | 300,000 | $33.8M |
| XOP SS SPDR S&P Og Exp & Prod | put | New | 250,000 | $32.9M |
| TAN Invesco Solar ETF | put | New | 1,000,000 | $30.5M |
| CRM Salesforce Inc. | call | New | 100,000 | $26.8M |
| MCHP Microchip Technology Inc. | call | New | 500,000 | $24.2M |
| DBX Dropbox Inc. Class A | call | Sold out | 750,000 | $22.5Mbefore exit |
| BABA Alibaba Group Holding-SP ADR | put | Sold out | 250,000 | $21.2Mbefore exit |
| DAR Darling Ingredients Inc. | call | Sold out | 500,000 | $16.8Mbefore exit |
| CFLT Confluent Inc. Class A | call | New | 550,000 | $12.9M |
| RUN Sunrun Inc. | call | New | 1,500,000 | $8.8M |
| XLB SS Materials Select Sector | call | Sold out | 100,000 | $8.4Mbefore exit |
| AKAM Akamai Technologies Inc. | call | New | 104,400 | $8.4M |
| RPD RAPID7 Inc. | call | Add +709.6% | 202,400 | $5.4M |
| SMCI Super Micro Computer Inc. | call | Sold out | 75,000 | $2.3Mbefore exit |
| GME Gamestop Corp. Class A | call | New | 75,000 | $1.7M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 172,000,000 | $182.8Mbefore exit |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Reduce -6.5% | 159,436,000 | $156.0M |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Add +16.2% | 166,500,000 | $155.3M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | New | 129,500,000 | $154.5M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | New | 136,500,000 | $148.1M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Add +50.4% | 94,000,000 | $92.2M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Sold out | 86,000,000 | $82.6Mbefore exit |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | Sold out | 87,450,000 | $81.1Mbefore exit |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | Add +23.5% | 72,250,000 | $66.4M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Add +288.9% | 70,000,000 | $64.7M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | New | 60,000,000 | $64.3M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | New | 60,000,000 | $63.7M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +52.6% | 72,500,000 | $63.0M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Sold out | 62,722,000 | $58.8Mbefore exit |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Sold out | 47,000,000 | $45.2Mbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 825,000 | $41.1Mbefore exit |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Sold out | 25,500,000 | $36.6Mbefore exit |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | New | 35,000,000 | $36.0M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +369.2% | 30,500,000 | $28.2M |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | New | 34,950,000 | $24.9M |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | Reduce -18.9% | 73,000,000 | $19.0M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -89.8% | 19,300,000 | $18.9M |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Reduce -25.3% | 74,000,000 | $17.5M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Reduce -56.5% | 10,000,000 | $9.7M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | Sold out | 4,178,000 | $3.8Mbefore exit |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | New | 1,500,000 | $1.3M |
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 | 230 | $5.7B | AMZN, TSM, GOOGL, NVDA, EA |
| Q1 2026 | 223 | $5.4B | AMZN, EA, NVDA, TSM, GOOGL |
| Q4 2025 | 202 | $5.6B | AMZN, GOOGL, CRM, TKO, MSFT |
| Q3 2025 | 147 | $4.4B | AMZN, SW, GOOGL, RSP, TKO |
| Q2 2025 | 141 | $3.8B | SW, GFL, LBRDK, FLUT, IBKR |
| Q1 2025 | 162 | $4.0B | SW, AZN, SPY, GFL, AER |
| Q4 2024 | 146 | $4.0B | SW, GOOGL, AZN, IWM, GFL |
| Q3 2024 | 138 | $3.5B | SW, AZN, AER, BABA, XLF |
| Q2 2024 | 136 | $3.2B | SPY, AZN, WRK, GOOGL, AER |
| Q1 2024 | 135 | $2.6B | GOOGL, AER, AEL, NVO, CERE |