Soros Fund Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), George Soros's Soros Fund Management reported 202 stock positions worth $5.6 billion. Its top holding was Amazon.com (AMZN) at 9.8% of the portfolio, followed by Alphabet Class A (GOOGL, 3.6%) and Salesforce (CRM, 2.5%). Compared with Q3 2025, it opened 115 new positions, sold out of 61, added to 38 and reduced 37. The biggest buy was a new position in Dayforce (DAY) and the biggest sale Smurfit Westrock (SW, shares −69%).
- Most Recent 13F
- Q2 2026
- Notable People
- George Soros
- Location
- NEW YORK, NY
- CIK
- 0001029160
- Portfolio Value
- $5.6B (Q4 2025)
- SEC Filing
- 0000902664-26-000998 ↗ filed Feb 13, 2026
Holdings Value
Holdings 202 stocks · $5.6B
| AMZN Amazon.com Inc. | 9.78% | 2,359,572 | $544.6M | Add +6.0% |
| GOOGL Alphabet Inc. Class A | 3.59% | 639,067 | $200.0M | Reduce -2.9% |
| CRM Salesforce Inc. | 2.47% | 519,246 | $137.6M | Add +12.0% |
| TKO Tko Group Holdings Inc. | 2.38% | 635,583 | $132.8M | Add +2.5% |
| MSFT Microsoft Corp. | 2.28% | 263,041 | $127.2M | Add +158.5% |
| NVDA Nvidia Corp. | 2.23% | 665,676 | $124.1M | Add +21.5% |
| AAPL Apple Inc. | 2.03% | 416,239 | $113.2M | Add +19.0% |
| KDK Kodiak AI Inc. | 1.95% | 9,967,978 | $108.9M | No change |
| TSM Taiwan Semiconductor-SP ADR | 1.91% | 349,858 | $106.3M | Add +157.1% |
| DAY Dayforce Inc. | 1.85% | 1,489,221 | $103.0M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.73% | 141,653 | $96.6M | Add +44.9% |
| SW Smurfit Westrock PLC | 1.67% | 2,402,148 | $92.9M | Reduce -69.0% |
| EXAS Exact Sciences Corp. | 1.58% | 864,009 | $87.7M | New |
| EA Electronic Arts Inc. | 1.57% | 428,402 | $87.5M | Add +289.5% |
| CYBR Cyberark Software Ltd./Israel | 1.57% | 196,092 | $87.5M | Add +189.6% |
| FIGR Figure Technology Solut Class A | 1.54% | 2,097,698 | $85.7M | Reduce -6.1% |
| NGD New Gold Inc. | 1.52% | 9,691,998 | $84.4M | New |
| CFLT Confluent Inc. Class A | 1.46% | 2,689,913 | $81.3M | New |
| CMS CMS Energy Corp. | 1.39% | 1,106,375 | $77.4M | Add +42.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.39% | 678,713 | $77.2M | Add +3.5% |
| ALLY Ally Financial Inc. | 1.37% | 1,687,493 | $76.4M | Add +128.8% |
| IDA Idacorp Inc. | 1.33% | 585,056 | $74.0M | Add +44.8% |
| SNV Synovus Financial Corp. | 1.29% | 1,438,381 | $72.0M | New |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 1.28% | 1,109,293 | $71.2M | Add +879.3% |
| FOLD Amicus Therapeutics Inc. | 1.28% | 5,000,000 | $71.2M | New |
| CWAN Clearwater Analytics HDS-A | 1.25% | 2,879,113 | $69.4M | New |
| MDLN Medline Inc. Class A | 1.19% | 1,580,000 | $66.4M | New |
| HOLX Hologic Inc. | 1.17% | 876,422 | $65.3M | New |
| CMA Comerica Inc. | 1.17% | 748,994 | $65.1M | New |
| CRBG Corebridge Financial Inc. | 1.12% | 2,068,339 | $62.4M | Add +3.1% |
| CDTX Cidara Therapeutics Inc. | 1.09% | 275,000 | $60.7M | New |
| RNAM Avidity Biosciences Inc. | 1.09% | 840,976 | $60.7M | New |
| GTLS Chart Industries Inc. | 1.06% | 285,561 | $58.9M | Add +269.4% |
| ITT Itt Inc. | 1.03% | 329,390 | $57.2M | New |
| WWD Woodward Inc. | 0.98% | 181,258 | $54.8M | New |
| XEL Xcel Energy Inc. | 0.97% | 732,025 | $54.1M | New |
| DDOG Datadog Inc. Class A | 0.93% | 380,115 | $51.7M | Reduce -11.3% |
| BHF Brighthouse Financial Inc. | 0.90% | 774,262 | $50.2M | Add +19.5% |
| IBKR Interactive Brokers Gro Class A | 0.89% | 771,480 | $49.6M | Reduce -51.3% |
| JHG Janus Henderson Group PLC | 0.85% | 996,991 | $47.4M | New |
| TEAM Atlassian Corp. Class A | 0.83% | 286,766 | $46.5M | Add +307.3% |
| ULS Ul Solutions Inc. Class A | 0.82% | 580,520 | $45.8M | Add +21.0% |
| HI Hillenbrand Inc. | 0.79% | 1,391,980 | $44.2M | New |
| INDV Indivior Ltd. | 0.74% | 1,154,452 | $41.4M | Reduce -14.7% |
| RUN Sunrun Inc. | 0.74% | 2,229,518 | $41.0M | Reduce -47.2% |
| RDNT Radnet Inc. | 0.74% | 574,555 | $41.0M | Add +221.9% |
| REVG Rev Group Inc. | 0.70% | 641,910 | $39.0M | New |
| DBRG Digitalbridge Group Inc. | 0.66% | 2,400,000 | $36.8M | New |
| AVGO Broadcom Inc. | 0.64% | 102,379 | $35.4M | New |
| SRE Sempra | 0.63% | 396,519 | $35.0M | Add +108.5% |
| ITRI Itron Inc. | 0.63% | 375,219 | $34.8M | New |
| AAMI Acadian Asset Management Inc. | 0.62% | 737,367 | $34.7M | Add +61.3% |
| ACN Accenture PLC Class A | 0.60% | 125,259 | $33.6M | Add +24.9% |
| DASH DoorDash Inc. Class A | 0.58% | 141,816 | $32.1M | Add +34.6% |
| GFL GFL Environmental Inc.-Sub VT | 0.56% | 732,620 | $31.5M | Reduce -16.3% |
| UBER Uber Technologies Inc. | 0.55% | 372,119 | $30.4M | Add +47.0% |
| CSGS CSG Systems Intl Inc. | 0.52% | 377,410 | $28.9M | New |
| EXC Exelon Corp. | 0.49% | 622,806 | $27.1M | Add +361.3% |
| MUB iShares National Muni Bond E | 0.46% | 241,400 | $25.9M | No change |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.46% | 354,686 | $25.8M | No change |
| CADE Cadence Bank | 0.46% | 597,348 | $25.6M | New |
| TSLA Tesla Inc. | 0.46% | 56,661 | $25.5M | New |
| CRH CRH PLC | 0.45% | 200,000 | $25.0M | Add +11.8% |
| DVAX Dynavax Technologies Corp. | 0.43% | 1,569,507 | $24.1M | New |
| LLY Eli Lilly & Co. | 0.43% | 22,334 | $24.0M | New |
| CNM Core & Main Inc. Class A | 0.41% | 434,454 | $22.6M | New |
| SEE Sealed Air Corp. | 0.39% | 520,974 | $21.6M | New |
| KVUE Kenvue Inc. | 0.39% | 1,246,246 | $21.5M | New |
| XHB SS SPDR S&P Homebldrs ETF | 0.37% | 202,579 | $20.9M | New |
| GL Globe Life Inc. | 0.37% | 145,500 | $20.3M | No change |
| FLUT Flutter Entertainment PLC-Di | 0.36% | 92,988 | $20.0M | Reduce -81.0% |
| RSP Invesco S&P 500 Equal Weight | 0.36% | 104,067 | $19.9M | Reduce -87.5% |
| SNOW Snowflake Inc. | 0.36% | 90,245 | $19.8M | Reduce -65.0% |
| SGI Somnigroup International Inc. | 0.35% | 220,000 | $19.6M | Reduce -64.8% |
| ONB Old National Bancorp | 0.34% | 855,685 | $19.1M | No change |
| BGC BGC Group Inc. Class A | 0.34% | 2,110,763 | $18.8M | Reduce -52.0% |
| UNH Unitedhealth Group Inc. | 0.34% | 56,791 | $18.7M | Add +19.7% |
| ZTS Zoetis Inc. | 0.34% | 148,448 | $18.7M | New |
| PONY Pony AI Inc. | 0.32% | 1,231,714 | $17.9M | Reduce -40.8% |
| OWL Blue Owl Capital Inc. | 0.32% | 1,186,576 | $17.7M | New |
| CFG Citizens Financial Group | 0.31% | 298,507 | $17.4M | New |
| XLF SS Financial Select Sector | 0.31% | 312,270 | $17.1M | New |
| TXN Texas Instruments Inc. | 0.31% | 98,191 | $17.0M | New |
| ZBRA Zebra Technologies Corp. Class A | 0.29% | 66,426 | $16.1M | Add +38.1% |
| AIG American International Group | 0.29% | 186,001 | $15.9M | New |
| SEMR Semrush Holdings Inc. Class A | 0.27% | 1,285,100 | $15.3M | New |
| DD Dupont DE Nemours Inc. | 0.27% | 368,000 | $14.8M | Reduce -8.0% |
| AMRZ Amrize Ltd. | 0.26% | 266,667 | $14.4M | Reduce -55.6% |
| ETR Entergy Corp. | 0.26% | 155,799 | $14.4M | Reduce -53.9% |
| SYF Synchrony Financial | 0.25% | 167,394 | $14.0M | Add +5.5% |
| HON Honeywell International Inc. | 0.25% | 71,055 | $13.9M | Reduce -28.9% |
| FWONK Liberty Media Corp. Class C | 0.25% | 140,000 | $13.8M | New |
| CTLP Cantaloupe Inc. | 0.24% | 1,251,880 | $13.3M | Add +0.6% |
| EVGO Evgo Inc. | 0.24% | 4,500,000 | $13.1M | Add +12.5% |
| HUM Humana Inc. | 0.23% | 50,530 | $12.9M | Reduce -15.7% |
| ENPH Enphase Energy Inc. | 0.23% | 400,000 | $12.8M | Add +300.0% |
| FXI iShares China Large-Cap ETF | 0.22% | 325,000 | $12.4M | New |
| SARO Standardaero Inc. | 0.22% | 424,600 | $12.2M | Reduce -38.1% |
| MDB Mongodb Inc. | 0.21% | 28,373 | $11.9M | Reduce -20.1% |
| ATXS Astria Therapeutics Inc. | 0.21% | 873,400 | $11.4M | New |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.18% | 161,288 | $10.2M | New |
| WEC WEC Energy Group Inc. | 0.18% | 96,245 | $10.1M | New |
| ALEX Alexander & Baldwin Inc. | 0.16% | 440,176 | $9.1M | New |
| DLR Digital Realty Trust Inc. | 0.16% | 57,418 | $8.9M | New |
| FRGE Forge Global Holdings Inc. | 0.16% | 198,530 | $8.8M | New |
| CVLT Commvault Systems Inc. | 0.16% | 70,000 | $8.8M | Reduce -67.8% |
| PTGX Protagonist Therapeutics Inc. | 0.16% | 100,000 | $8.7M | New |
| SAIL Sailpoint Inc. | 0.15% | 425,000 | $8.6M | Reduce -67.2% |
| CME Cme Group Inc. | 0.15% | 30,028 | $8.2M | No change |
| BG Bunge Global SA | 0.14% | 86,568 | $7.7M | New |
| COIN Coinbase Global Inc. Class A | 0.14% | 33,984 | $7.7M | New |
| RAL Ralliant Corp. | 0.14% | 149,089 | $7.6M | No change |
| BETA Beta Technologies Inc. Class A | 0.14% | 268,520 | $7.6M | New |
| TRIP Tripadvisor Inc. | 0.14% | 520,000 | $7.6M | New |
| ORA Ormat Technologies Inc. | 0.14% | 68,190 | $7.5M | New |
| BRCB Black Rock Coffee Bar Inc. Class A | 0.14% | 338,250 | $7.5M | Reduce -12.4% |
| MIAX Miami International Holdings | 0.12% | 154,560 | $6.9M | Add +48.2% |
| PLYM Plymouth Industrial REIT Inc. | 0.12% | 313,225 | $6.9M | New |
| FUN Six Flags Entertainment Corp. | 0.12% | 440,000 | $6.7M | New |
| STUB Stubhub Holdings Inc. Class A | 0.12% | 486,599 | $6.6M | Reduce -44.4% |
| Q Qnity Electronics Inc. | 0.12% | 80,000 | $6.5M | Reduce -60.0% |
| TTWO Take-Two Interactive Softwre | 0.12% | 25,478 | $6.5M | No change |
| UDMY Udemy Inc. | 0.12% | 1,100,000 | $6.4M | New |
| RDN Radian Group Inc. | 0.12% | 178,767 | $6.4M | No change |
| GLXY Galaxy Digital Inc. Class A | 0.11% | 271,911 | $6.1M | Reduce -0.7% |
| OS Onestream Inc. | 0.11% | 330,000 | $6.1M | Add +2.3% |
| ETOR Etoro Group Ltd. Class A | 0.11% | 172,220 | $6.1M | Add +4.2% |
| ADI Analog Devices Inc. | 0.10% | 21,400 | $5.8M | Reduce -62.1% |
| BKU Bankunited Inc. | 0.10% | 129,704 | $5.8M | New |
| LGN Legence Corp. Class A | 0.10% | 128,560 | $5.5M | Reduce -3.8% |
| D Dominion Energy Inc. | 0.10% | 91,323 | $5.4M | New |
| EWC iShares MSCI Canada ETF | 0.09% | 97,700 | $5.3M | No change |
| VVX V2X Inc. | 0.09% | 92,800 | $5.1M | Reduce -13.2% |
| NP Neptune Insurance Holdi Class A | 0.09% | 171,000 | $5.0M | New |
| FLR Fluor Corp. | 0.09% | 122,052 | $4.8M | New |
| GSAT Globalstar Inc. | 0.09% | 78,881 | $4.8M | New |
| WBD Warner Bros Discovery Inc. | 0.08% | 150,000 | $4.3M | New |
| BL Blackline Inc. | 0.07% | 75,000 | $4.1M | New |
| CRCL Circle Internet Group Inc. | 0.07% | 51,707 | $4.1M | Reduce -74.5% |
| BLSH Bullish | 0.07% | 108,200 | $4.1M | Reduce -47.3% |
| GEHC GE Healthcare Technology | 0.07% | 47,298 | $3.9M | New |
| AMD Advanced Micro Devices | 0.07% | 17,201 | $3.7M | New |
| LION Lionsgate Studios Corp. | 0.07% | 400,972 | $3.7M | Add +33.7% |
| ROG Rogers Corp. | 0.06% | 37,197 | $3.4M | New |
| MTZ Mastec Inc. | 0.06% | 14,704 | $3.2M | New |
| AMTM Amentum Holdings Inc. | 0.06% | 109,303 | $3.2M | New |
| VKTX Viking Therapeutics Inc. | 0.06% | 90,000 | $3.2M | New |
| PCH Potlatchdeltic Corp. | 0.05% | 75,900 | $3.0M | New |
| AERO Grupo Aeromexico Sab DE CV | 0.05% | 125,000 | $2.7M | New |
| CBC Central Bancompany | 0.05% | 110,820 | $2.7M | New |
| WLTH Wealthfront Corp. | 0.04% | 182,960 | $2.5M | New |
| PD Pagerduty Inc. | 0.04% | 184,592 | $2.4M | New |
| PZZA Papa John's Intl Inc. | 0.04% | 62,731 | $2.4M | New |
| OKLO Oklo Inc. | 0.04% | 32,147 | $2.3M | New |
| CMCSA Comcast Corp. Class A | 0.04% | 73,440 | $2.2M | New |
| CPNG Coupang Inc. | 0.04% | 92,732 | $2.2M | New |
| SMR Nuscale Power Corp. | 0.04% | 150,211 | $2.1M | New |
| RPD RAPID7 Inc. | 0.04% | 134,845 | $2.0M | No change |
| WMT Walmart Inc. | 0.04% | 17,744 | $2.0M | New |
| J Jacobs Solutions Inc. | 0.03% | 13,031 | $1.7M | New |
| RBRK Rubrik Inc. Class A | 0.03% | 21,971 | $1.7M | New |
| ANDG Andersen Group Inc. Class A | 0.03% | 62,600 | $1.6M | New |
| LNC Lincoln National Corp. | 0.03% | 34,015 | $1.5M | New |
| CCO Clear Channel Outdoor Holdin | 0.03% | 680,000 | $1.5M | New |
| LULU Lululemon Athletica Inc. | 0.03% | 7,225 | $1.5M | New |
| GO Grocery Outlet Holding Corp. | 0.02% | 137,330 | $1.4M | New |
| CRL Charles River Laboratories | 0.02% | 6,778 | $1.4M | New |
| VOYG Voyager Technologies Inc. Class A | 0.02% | 51,600 | $1.3M | New |
| EME Emcor Group Inc. | 0.02% | 2,021 | $1.2M | New |
| BLLN Billiontoone Inc. Class A | 0.02% | 14,500 | $1.2M | New |
| VSEC Vse Corp. | 0.02% | 6,616 | $1.1M | New |
| LCID Lucid Group Inc. | 0.02% | 96,100 | $1.0M | New |
| BLDR Builders Firstsource Inc. | 0.02% | 9,828 | $1.0M | New |
| ES Eversource Energy | 0.02% | 14,890 | $1.0M | New |
| SPSB SS SPDR P St C Corp. ETF | 0.02% | 30,268 | $914K | Reduce -5.2% |
| FWONA Liberty Media Corp. Class A | 0.02% | 10,200 | $912K | New |
| VIA Via Transportation Inc. Class A | 0.02% | 30,000 | $870K | No change |
| SHOP Shopify Inc. Class A | 0.02% | 5,376 | $865K | New |
| WSC Willscot Holdings Corp. | 0.02% | 45,138 | $850K | New |
| RKT Rocket Cos Inc. Class A | 0.02% | 43,868 | $849K | New |
| RBLX Roblox Corp. Class A | 0.01% | 10,335 | $837K | New |
| QXO Qxo Inc. | 0.01% | 41,095 | $793K | New |
| CEPV Cantor Equity Partners Class A | 0.01% | 75,000 | $769K | New |
| TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP | 0.01% | 71,432 | $750K | New |
| TGNA Tegna Inc. | 0.01% | 36,673 | $712K | Reduce -92.3% |
| KRMN Karman Holdings Inc. | 0.01% | 9,543 | $698K | Reduce -97.4% |
| JPM JPMorgan Chase & Co. | 0.01% | 2,165 | $698K | New |
| U Unity Software Inc. | 0.01% | 14,882 | $657K | Reduce -70.2% |
| MP MP Materials Corp. | 0.01% | 12,368 | $625K | New |
| CODI Compass Diversified Holdings | 0.01% | 124,827 | $599K | New |
| ALAB Astera Labs Inc. | 0.01% | 3,359 | $559K | New |
| PCT Purecycle Technologies Inc. | 0.01% | 58,903 | $506K | New |
| FRMI Fermi Inc. | 0.01% | 60,539 | $484K | New |
| AAOI Applied Optoelectronics Inc. | 0.01% | 11,576 | $404K | New |
| HUN Huntsman Corp. | 0.01% | 38,435 | $384K | New |
| PPTA Perpetua Resources Corp. | 0.01% | 11,406 | $276K | New |
| FICO Fair Isaac Corp. | 0.00% | 133 | $225K | Reduce -20.4% |
| ROIV Roivant Sciences Ltd. | 0.00% | 9,492 | $206K | New |
| PNFP Pinnacle Financial Partners | 0.00% | 2,153 | $205K | New |
| FRMM Forum Markets Inc. filed as ETHZILLA CORPORATION | 0.00% | 35,482 | $174K | New |
| NAK Northern Dynasty Minerals | 0.00% | 64,305 | $127K | New |
| CORZ Core Scientific Inc. | 0.00% | 5,458 | $79K | New |
Options reported separately and not counted above: XOP puts ($415.5M), XLE puts ($162.7M), CRWV puts ($123.2M), SMH puts ($104.4M), SPY puts ($102.3M), AMZN calls ($69.2M), HUN calls ($59.0M), RUN calls ($36.8M), IRM calls ($27.2M), CFLT calls ($24.6M), PONY calls ($14.5M), DIS calls ($11.4M), and 3 more.
Other holdings (27): bonds, preferreds, convertibles and warrants · $1.9B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 194,500,000 | $221.2M | Add +5.3% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 143,436,000 | $180.3M | Reduce -3.4% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 195,500,000 | $175.7M | Reduce -16.5% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 149,399,000 | $173.2M | New |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 164,927,000 | $160.8M | Add +73.6% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 138,750,000 | $137.6M | Add +12.1% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 133,500,000 | $137.5M | Reduce -15.0% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 92,500,000 | $93.4M | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 85,000,000 | $86.0M | Add +161.5% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 83,609,000 | $83.4M | Add +7.5% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 90,385,000 | $83.3M | New |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 77,500,000 | $73.3M | Add +7.3% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 41,000,000 | $41.1M | Reduce -31.7% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 40,175,000 | $40.2M | Add +6.6% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 10,250,000 | $38.1M | Reduce -8.9% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 35,000,000 | $36.4M | Reduce -26.3% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 37,348,000 | $36.1M | Add +27.3% |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 581,067 | $31.7M | New |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 5,000,000 | $14.2M | New |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 10,500,000 | $10.3M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 10,000,000 | $10.0M | New |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 10,000,000 | $9.1M | No change |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 1,062,761 | $9.0M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 5,000,000 | $5.5M | Reduce -95.0% |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 1,000,000 | $991K | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 33,026 | $30K | New |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 200 | $104 | New |
Total filed on the 13F, all lines: $7.5B.
Portfolio Sells Q3 2025 → Q4 2025
| SW Smurfit Westrock PLC | Reduce -69.0% | 1.67% | −5.85 |
| RSP Invesco S&P 500 Equal Weight | Reduce -87.5% | 0.36% | −3.23 |
| FLUT Flutter Entertainment PLC-Di | Reduce -81.0% | 0.36% | −2.48 |
| ARMK Aramark | Sold out | 0.00% | −1.99 |
| IBKR Interactive Brokers Gro Class A | Reduce -51.3% | 0.89% | −1.59 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −1.04 |
| SNOW Snowflake Inc. | Reduce -65.0% | 0.36% | −0.97 |
| RUN Sunrun Inc. | Reduce -47.2% | 0.74% | −0.93 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.92 |
| MRUS Merus NV | Sold out | 0.00% | −0.87 |
| SGI Somnigroup International Inc. | Reduce -64.8% | 0.35% | −0.85 |
| CVLT Commvault Systems Inc. | Reduce -67.8% | 0.16% | −0.78 |
| PONY Pony AI Inc. | Reduce -40.8% | 0.32% | −0.74 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.70 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −0.69 |
| BGC BGC Group Inc. Class A | Reduce -52.0% | 0.34% | −0.61 |
| SPNS Sapiens International Corp. | Sold out | 0.00% | −0.59 |
| KRMN Karman Holdings Inc. | Reduce -97.4% | 0.01% | −0.59 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.55 |
| CRCL Circle Internet Group Inc. | Reduce -74.5% | 0.07% | −0.54 |
| VMEO Vimeo Inc. | Sold out | 0.00% | −0.50 |
| SAIL Sailpoint Inc. | Reduce -67.2% | 0.15% | −0.50 |
| SCS Steelcase Inc. Class A | Sold out | 0.00% | −0.50 |
| DDOG Datadog Inc. Class A | Reduce -11.3% | 0.93% | −0.46 |
| IAS Integral Ad Science Holding | Sold out | 0.00% | −0.46 |
| ETR Entergy Corp. | Reduce -53.9% | 0.26% | −0.46 |
| DD Dupont DE Nemours Inc. | Reduce -8.0% | 0.27% | −0.44 |
| CTRE Caretrust REIT Inc. | Sold out | 0.00% | −0.42 |
| AMRZ Amrize Ltd. | Reduce -55.6% | 0.26% | −0.40 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -16.3% | 0.56% | −0.38 |
| KEY Keycorp | Sold out | 0.00% | −0.37 |
| TPG TPG Inc. | Sold out | 0.00% | −0.36 |
| AS Amer Sports Inc. | Sold out | 0.00% | −0.36 |
| SRAD Sportradar Group AG-A | Sold out | 0.00% | −0.36 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.34 |
| FIGR Figure Technology Solut Class A | Reduce -6.1% | 1.54% | −0.31 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −0.31 |
| WAY Waystar Holding Corp. | Sold out | 0.00% | −0.29 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −0.28 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.27 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.26 |
| Q Qnity Electronics Inc. | Reduce -60.0% | 0.12% | −0.25 |
| PHLT Performant Healthcare Inc. | Sold out | 0.00% | −0.24 |
| ADT Adt Inc. | Sold out | 0.00% | −0.24 |
| NIQ Niq Global Intelligence PLC | Sold out | 0.00% | −0.23 |
| HON Honeywell International Inc. | Reduce -28.9% | 0.25% | −0.23 |
| BLSH Bullish | Reduce -47.3% | 0.07% | −0.22 |
| STUB Stubhub Holdings Inc. Class A | Reduce -44.4% | 0.12% | −0.22 |
| ADI Analog Devices Inc. | Reduce -62.1% | 0.10% | −0.21 |
| SARO Standardaero Inc. | Reduce -38.1% | 0.22% | −0.21 |
Portfolio Buys Q3 2025 → Q4 2025
| DAY Dayforce Inc. | New | 1.85% | +1.85 |
| EXAS Exact Sciences Corp. | New | 1.58% | +1.58 |
| NGD New Gold Inc. | New | 1.52% | +1.52 |
| CFLT Confluent Inc. Class A | New | 1.46% | +1.46 |
| SNV Synovus Financial Corp. | New | 1.29% | +1.29 |
| FOLD Amicus Therapeutics Inc. | New | 1.28% | +1.28 |
| CWAN Clearwater Analytics HDS-A | New | 1.25% | +1.25 |
| MDLN Medline Inc. Class A | New | 1.19% | +1.19 |
| HOLX Hologic Inc. | New | 1.17% | +1.17 |
| CMA Comerica Inc. | New | 1.17% | +1.17 |
| AL Sumisho Air Lease Corp. | Add +879.3% | 1.28% | +1.11 |
| CDTX Cidara Therapeutics Inc. | New | 1.09% | +1.09 |
| RNAM Avidity Biosciences Inc. | New | 1.09% | +1.09 |
| MSFT Microsoft Corp. | Add +158.5% | 2.28% | +1.08 |
| EA Electronic Arts Inc. | Add +289.5% | 1.57% | +1.07 |
| TSM Taiwan Semiconductor-SP ADR | Add +157.1% | 1.91% | +1.04 |
| ITT Itt Inc. | New | 1.03% | +1.03 |
| WWD Woodward Inc. | New | 0.98% | +0.98 |
| XEL Xcel Energy Inc. | New | 0.97% | +0.97 |
| JHG Janus Henderson Group PLC | New | 0.85% | +0.85 |
| CYBR Cyberark Software Ltd./Israel | Add +189.6% | 1.57% | +0.82 |
| HI Hillenbrand Inc. | New | 0.79% | +0.79 |
| ALLY Ally Financial Inc. | Add +128.8% | 1.37% | +0.71 |
| GTLS Chart Industries Inc. | Add +269.4% | 1.06% | +0.70 |
| REVG Rev Group Inc. | New | 0.70% | +0.70 |
| DBRG Digitalbridge Group Inc. | New | 0.66% | +0.66 |
| AVGO Broadcom Inc. | New | 0.64% | +0.64 |
| ITRI Itron Inc. | New | 0.63% | +0.63 |
| TEAM Atlassian Corp. Class A | Add +307.3% | 0.83% | +0.58 |
| CSGS CSG Systems Intl Inc. | New | 0.52% | +0.52 |
| CADE Cadence Bank | New | 0.46% | +0.46 |
| TSLA Tesla Inc. | New | 0.46% | +0.46 |
| DVAX Dynavax Technologies Corp. | New | 0.43% | +0.43 |
| LLY Eli Lilly & Co. | New | 0.43% | +0.43 |
| RDNT Radnet Inc. | Add +221.9% | 0.74% | +0.43 |
| CNM Core & Main Inc. Class A | New | 0.41% | +0.41 |
| SEE Sealed Air Corp. | New | 0.39% | +0.39 |
| KVUE Kenvue Inc. | New | 0.39% | +0.39 |
| XHB SS SPDR S&P Homebldrs ETF | New | 0.37% | +0.37 |
| EXC Exelon Corp. | Add +361.3% | 0.49% | +0.35 |
| ZTS Zoetis Inc. | New | 0.34% | +0.34 |
| OWL Blue Owl Capital Inc. | New | 0.32% | +0.32 |
| CFG Citizens Financial Group | New | 0.31% | +0.31 |
| XLF SS Financial Select Sector | New | 0.31% | +0.31 |
| TXN Texas Instruments Inc. | New | 0.31% | +0.31 |
| AIG American International Group | New | 0.29% | +0.29 |
| SEMR Semrush Holdings Inc. Class A | New | 0.27% | +0.27 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +44.9% | 1.73% | +0.25 |
| FWONK Liberty Media Corp. Class C | New | 0.25% | +0.25 |
| SRE Sempra | Add +108.5% | 0.63% | +0.24 |
Options Activity Q3 2025 → Q4 2025
| XOP SS SPDR S&P Og Exp & Prod | put | New | 3,290,700 | $415.5M |
| XLE SS Energy Select Sector | put | New | 3,639,800 | $162.7M |
| FXI iShares China Large-Cap ETF | call | Sold out | 3,225,000 | $132.7Mbefore exit |
| CRWV Coreweave Inc. Class A | put | New | 1,720,100 | $123.2M |
| SMH Vaneck Semiconductor ETF | put | Reduce -6.5% | 290,000 | $104.4M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -20.6% | 150,000 | $102.3M |
| KWEB Kranesh Csi China Internet | call | Sold out | 2,400,000 | $100.8Mbefore exit |
| TLT iShares 20+ Year Treasury BD | call | Sold out | 1,000,000 | $89.4Mbefore exit |
| AMZN Amazon.com Inc. | call | Add +100.0% | 300,000 | $69.2M |
| HUN Huntsman Corp. | call | New | 5,900,000 | $59.0M |
| RUN Sunrun Inc. | call | Reduce -11.1% | 2,000,000 | $36.8M |
| IRM Iron Mountain Inc. | call | New | 327,700 | $27.2M |
| CFLT Confluent Inc. Class A | call | Reduce -56.3% | 813,900 | $24.6M |
| FSLR First Solar Inc. | call | Sold out | 100,000 | $22.1Mbefore exit |
| PONY Pony AI Inc. | call | New | 1,000,000 | $14.5M |
| DIS The Walt Disney Co. | call | New | 100,000 | $11.4M |
| WOLF Wolfspeed Inc. | call | New | 591,900 | $10.3M |
| WBD Warner Bros Discovery Inc. | call | Sold out | 500,000 | $9.8Mbefore exit |
| RIVN Rivian Automotive Inc. Class A | put | New | 475,000 | $9.4M |
| WOLF Wolfspeed Inc. | put | Sold out | 5,869,000 | $7.1Mbefore exit |
| ENVX Enovix Corp. | call | New | 250,000 | $1.8M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +5.3% | 194,500,000 | $221.2M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Reduce -3.4% | 143,436,000 | $180.3M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -16.5% | 195,500,000 | $175.7M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | New | 149,399,000 | $173.2M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Add +73.6% | 164,927,000 | $160.8M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 135,788,000 | $137.7Mbefore exit |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Add +12.1% | 138,750,000 | $137.6M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -15.0% | 133,500,000 | $137.5M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Sold out | 84,500,000 | $94.0Mbefore exit |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Add +161.5% | 85,000,000 | $86.0M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Add +7.5% | 83,609,000 | $83.4M |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | New | 90,385,000 | $83.3M |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | Add +7.3% | 77,500,000 | $73.3M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Reduce -31.7% | 41,000,000 | $41.1M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Add +6.6% | 40,175,000 | $40.2M |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Reduce -8.9% | 10,250,000 | $38.1M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Reduce -26.3% | 35,000,000 | $36.4M |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Add +27.3% | 37,348,000 | $36.1M |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | New | 581,067 | $31.7M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Sold out | 25,000,000 | $31.1Mbefore exit |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | Sold out | 18,080,000 | $24.4Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Sold out | 23,000,000 | $22.0Mbefore exit |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Sold out | 20,000,000 | $20.2Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | New | 5,000,000 | $14.2M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | New | 10,000,000 | $10.0M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | New | 1,062,761 | $9.0M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Reduce -95.0% | 5,000,000 | $5.5M |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | Sold out | 4,000,000 | $5.1Mbefore exit |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 33,026 | $30K |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 200 | $104 |
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 |