Ssi Investment Management LLC

Name: SSI INVESTMENT MANAGEMENT LLC 13F holdings, Q4 2024
Creator: SSI INVESTMENT MANAGEMENT LLC
Published: 2025-02-10

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Ssi Investment Management LLC reported 89 stock positions worth $279.7 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 34.0% of the portfolio, followed by Vanguard Total Intl Stock (VXUS, 6.2%) and Ishr Ibx Usd Invgd CB ETF-Ui (LQD, 5.8%). Compared with Q3 2024, it opened 3 new positions, sold out of 4, added to 17 and reduced 40. The biggest buy was iShares 0-5 YR HY Corp. Bond (SHYG, shares +121%) and the biggest sale iShares 7-10 Year Treasury B (IEF, shares −38%).

Most Recent 13F: Q2 2026
Location: Los Angeles, CA
CIK: 0000938487
Portfolio Value: $279.7M (Q4 2024)
SEC Filing: 0001172661-25-000619 ↗ filed Feb 10, 2025

Holdings Value

Holdings 89 stocks · $279.7M


IVV iShares Core S&P 500 ETF	33.99%	161,510	$95.1M	Add +5.0%
VXUS Vanguard Total Intl Stock	6.18%	293,359	$17.3M	Add +7.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui	5.85%	153,057	$16.4M	Add +6.9%
JAAA Janus Henderson Aaa Clo ETF	4.10%	226,293	$11.5M	Add +6.8%
BKLN Invesco Senior Loan ETF	3.77%	500,269	$10.5M	Add +47.9%
SHYG iShares 0-5 YR HY Corp. Bond	3.25%	213,505	$9.1M	Add +120.5%
IWN iShares Russell 2000 Value E	3.14%	53,526	$8.8M	Add +116.0%
ICVT iShares Convertible Bond ETF	2.47%	81,358	$6.9M	Add +6.9%
SDVY First Trust Smid Cap Rising	2.35%	183,679	$6.6M	Add +56.8%
BUFR FT Vest Lad Buffervetf-Usd I	2.11%	193,428	$5.9M	Add +6.9%
IYW iShares Ustechnology ETF	1.92%	33,732	$5.4M	Add +6.2%
MSFT Microsoft Corp.	1.74%	11,572	$4.9M	Reduce -0.1%
LMBS First Trust Low Duration Opp	1.74%	100,106	$4.9M	Reduce -27.3%
FLOT iShares Floating Rate Bond E	1.68%	92,504	$4.7M	Add +1.7%
QUAL iShares MSCI USA Quality Fac	1.62%	25,393	$4.5M	Add +3.9%
NVDA Nvidia Corp.	1.56%	32,448	$4.4M	Reduce -0.1%
IEF iShares 7-10 Year Treasury B	1.49%	44,961	$4.2M	Reduce -38.2%
IYR iShares US Real Estate ETF	1.45%	43,594	$4.1M	Add +5.3%
IEMG iShares Core MSCI Emerging	1.44%	76,927	$4.0M	Reduce -32.9%
AAPL Apple Inc.	1.41%	15,710	$3.9M	Reduce -0.1%
HDEF Xtrackers MSCI Eafe High Div	1.35%	155,241	$3.8M	Add +9.0%
AMZN Amazon.com Inc.	1.05%	13,383	$2.9M	Reduce -0.1%
GOOGL Alphabet Inc. Class A	1.04%	15,428	$2.9M	Reduce -0.1%
INDA iShares MSCI India ETF	0.97%	51,669	$2.7M	Add +11.4%
META Meta Platforms Inc. Class A	0.82%	3,939	$2.3M	Reduce -0.1%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.55%	20,261	$1.5M	Reduce -0.1%
AVGO Broadcom Inc.	0.54%	6,461	$1.5M	Reduce -0.1%
EWJ iShares MSCI Japan ETF	0.46%	19,236	$1.3M	Add +11.9%
BRK.B Berkshire Hathaway Inc. Class B	0.44%	2,698	$1.2M	Reduce -0.1%
KMB Kimberly-Clark Corp.	0.41%	8,685	$1.1M	No change
L Loews Corp.	0.40%	13,232	$1.1M	No change
TSLA Tesla Inc.	0.32%	2,195	$886K	Reduce -0.1%
JPM JPMorgan Chase & Co.	0.31%	3,642	$873K	Reduce -0.1%
COST Costco Wholesale Corp.	0.30%	921	$844K	No change
PG The Procter & Gamble Co.	0.29%	4,852	$813K	Reduce -0.1%
UNH Unitedhealth Group Inc.	0.27%	1,480	$749K	No change
IWD iShares Russell 1000 Value E	0.27%	4,020	$744K	No change
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.26%	16,606	$730K	Reduce -0.1%
V Visa Inc. Class A	0.25%	2,209	$698K	Reduce -0.1%
SGOV iShares 0-3 Month Treasury B	0.24%	6,587	$661K	No change
ORCL Oracle Corp.	0.21%	3,604	$601K	Reduce -0.1%
JNJ Johnson & Johnson	0.21%	4,103	$593K	Reduce -0.1%
LLY Eli Lilly & Co.	0.20%	736	$568K	No change
KKR KKR & Co. Inc.	0.20%	3,698	$547K	Reduce -0.1%
MA Mastercard Inc. Class A	0.19%	998	$526K	No change
CRM Salesforce Inc.	0.18%	1,513	$506K	No change
ETN Eaton Corp. PLC	0.18%	1,511	$501K	No change
WFC Wells Fargo & Co.	0.17%	6,865	$482K	Reduce -0.1%
CSCO Cisco Systems Inc.	0.17%	8,016	$475K	Reduce -0.0%
ICE Intercontinental Exchange Inc.	0.17%	3,107	$463K	Reduce -0.1%
UNP Union Pacific Corp.	0.16%	1,985	$453K	Reduce -0.1%
HD Home Depot Inc.	0.16%	1,146	$446K	No change
KO The Coca-Cola Co.	0.16%	7,102	$442K	Reduce -0.1%
ABT Abbott Laboratories	0.15%	3,760	$425K	Reduce -0.1%
MRK Merck & Co. Inc.	0.15%	4,242	$422K	Reduce -0.1%
MCD McDonald's Corp.	0.15%	1,443	$418K	No change
ABBV Abbvie Inc.	0.15%	2,343	$416K	Reduce -0.1%
NOW ServiceNow Inc.	0.14%	365	$387K	No change
WMT Walmart Inc.	0.14%	4,249	$384K	Reduce -0.1%
AMGN Amgen Inc.	0.13%	1,437	$375K	No change
PEP Pepsico Inc.	0.13%	2,455	$373K	Reduce -0.0%
AGG iShares Core U.S. Aggregate	0.13%	3,809	$369K	No change
AMAT Applied Materials Inc.	0.13%	2,230	$363K	Reduce -0.1%
PFE Pfizer Inc.	0.13%	13,469	$357K	Reduce -0.1%
BA The Boeing Co.	0.13%	2,011	$356K	New
PH Parker Hannifin Corp.	0.12%	546	$347K	No change
DHR Danaher Corp.	0.12%	1,488	$342K	No change
CVX Chevron Corp.	0.12%	2,324	$337K	Reduce -0.1%
FWONK Liberty Media Corp. Class C	0.12%	3,499	$324K	Reduce -0.1%
TMO Thermo Fisher Scientific Inc.	0.11%	573	$298K	No change
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.11%	2,671	$297K	Reduce -0.1%
HON Honeywell International Inc.	0.10%	1,273	$288K	No change
ACN Accenture PLC Class A	0.10%	809	$285K	No change
CMCSA Comcast Corp. Class A	0.10%	7,247	$272K	Reduce -0.0%
ADBE Adobe Inc.	0.10%	603	$268K	No change
MRVL Marvell Technology Inc.	0.09%	2,347	$259K	New
NFLX Netflix Inc.	0.09%	289	$258K	No change
UBER Uber Technologies Inc.	0.09%	4,161	$251K	Reduce -0.1%
MSI Motorola Solutions Inc.	0.09%	527	$244K	No change
MS Morgan Stanley	0.09%	1,913	$241K	New
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.09%	1,977	$239K	Reduce -0.1%
LMT Lockheed Martin Corp.	0.08%	473	$230K	No change
CMI Cummins Inc.	0.08%	657	$229K	No change
AIG American International Group	0.08%	3,120	$227K	Reduce -0.1%
LIN Linde PLC	0.08%	535	$224K	No change
INTU Intuit Inc.	0.08%	352	$221K	No change
LOW Lowe's Cos Inc.	0.08%	855	$211K	No change
DE Deere & Co.	0.07%	480	$203K	No change
RIG Transocean Ltd.	0.02%	14,112	$53K	Reduce -0.1%

Other holdings (181): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)

Security	Class	Shares / Principal	Value	Change
BOOKING HOLDINGS INC (BKNG 0.75 05/01/25)	NOTE 0.750% 5/0 · principal	12,830,000	$33.9M	Reduce -16.4%
BOEING CO/THE (BA 6 10/15/27)	DEP CONV PFD A	513,070	$31.6M	New
SOUTHERN CO (SO 3.875 12/15/25)	NOTE 3.875%12/1 · principal	28,459,000	$29.9M	Reduce -1.5%
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	19,671	$23.4M	Reduce -1.6%
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	22,232,000	$22.8M	Reduce -2.8%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	19,470,000	$21.4M	New
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	16,573	$20.1M	Reduce -0.6%
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	20,124,000	$18.9M	Add +46.4%
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26)	SER A MAND CNV	211,840	$18.4M	Reduce -37.2%
PG&E CORP (PCG 4.25 12/01/27)	NOTE 4.250%12/0 · principal	16,849,000	$18.3M	New
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27)	NOTE 0.500% 8/0 · principal	15,215,000	$16.4M	Add +7.7%
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)	NOTE 2.875% 3/1 · principal	15,227,000	$15.9M	Reduce -1.2%
ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25)	NOTE 6.000% 8/1 · principal	3,395,000	$15.7M	Reduce -31.1%
NCL CORPORATION LTD (NCLH 1.125 02/15/27)	NOTE 1.125% 2/1 · principal	14,840,000	$15.4M	Add +46.2%
SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25)	NOTE 1.250% 5/0 · principal	14,758,000	$15.1M	Add +111.5%
WAYFAIR INC (W 1 08/15/26)	NOTE 1.000% 8/1 · principal	16,261,000	$15.0M	Reduce -4.6%
VENTAS REALTY LP (VTR 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	13,029,000	$14.8M	Reduce -31.5%
PALO ALTO NETWORKS (PANW 0.375 06/01/25)	NOTE 0.375% 6/0 · principal	3,986,000	$14.6M	Reduce -21.8%
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	10,601,000	$14.0M	New
SEAGATE HDD CAYMAN (STX 3.5 06/01/28)	NOTE 3.500% 6/0 · principal	11,623,000	$14.0M	Add +4.0%
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28)	NOTE 2.125% 2/1 · principal	8,429,000	$13.5M	Reduce -2.9%
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B)	6.75 SE B PFD	219,060	$12.3M	New
AFFIRM HOLDINGS INC (AFRM 0 11/15/26)	NOTE 11/1 · principal	13,438,000	$12.1M	Reduce -6.6%
CABLE ONE INC (CABO 1.125 03/15/28)	NOTE 1.125% 3/1 · principal	14,425,000	$11.9M	Reduce -1.5%
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	12,923,000	$11.5M	New
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	10,382,000	$11.4M	Reduce -3.3%
HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	173,540	$10.7M	Add +333.9%
ZILLOW GROUP INC (Z 2.75 05/15/25)	NOTE 2.750% 5/1 · principal	8,929,000	$10.3M	Add +208.9%
INSMED INC (INSM 0.75 06/01/28)	NOTE 0.750% 6/0 · principal	4,752,000	$10.3M	Reduce -35.7%
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28)	NOTE 3/1 · principal	12,066,000	$10.3M	Add +0.1%
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27)	NOTE 2.250% 8/1 · principal	7,999,000	$9.8M	Reduce -3.2%
CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B)	6.75DP CNV PFD B	137,595	$9.7M	Reduce -2.1%
SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26)	NOTE 1.500% 2/1 · principal	10,069,000	$9.7M	Reduce -7.6%
AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25)	NOTE 0.125% 5/0 · principal	9,074,000	$9.6M	Reduce -3.8%
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	9,446,000	$9.3M	Reduce -1.1%
MIRUM PHARMACEUTICALS (MIRM 4 05/01/29)	NOTE 4.000% 5/0 · principal	6,013,000	$9.2M	Reduce -3.9%
PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26)	NOTE 1.750%12/1 · principal	9,672,000	$9.0M	Add +0.6%
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	7,129,000	$9.0M	Reduce -6.6%
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	7,394,000	$8.9M	Reduce -4.0%
AXON ENTERPRISE INC (AXON 0.5 12/15/27)	NOTE 0.500%12/1 · principal	3,346,000	$8.7M	Reduce -53.3%
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	9,732,000	$8.6M	Add +6.0%
LENDINGTREE INC (TREE 0.5 07/15/25)	NOTE 0.500% 7/1 · principal	8,779,000	$8.4M	Add +3.6%
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29)	NOTE 1.500%12/1 · principal	5,891,000	$8.2M	Add +0.7%
FRESHPET INC (FRPT 3 04/01/28)	NOTE 3.000% 4/0 · principal	3,695,000	$8.2M	Reduce -5.3%
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	6,655,000	$8.0M	Reduce -5.2%
FORD MOTOR COMPANY (F 0 03/15/26)	NOTE 3/1 · principal	8,188,000	$7.9M	Reduce -51.9%
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	6,234,000	$7.7M	Add +18.5%
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27)	NOTE 1.000% 9/1 · principal	7,078,000	$7.5M	Reduce -3.7%
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	6,847,000	$7.5M	Reduce -3.7%
WORKIVA INC (WK 1.25 08/15/28)	NOTE 1.250% 8/1 · principal	6,978,000	$7.4M	Add +47.9%
DATADOG INC (DDOG 0.125 06/15/25)	NOTE 0.125% 6/1 · principal	4,575,000	$7.1M	Add +0.7%
UNITY SOFTWARE INC (U 0 11/15/26)	NOTE 11/1 · principal	7,666,000	$7.0M	Add +3.2%
HUBSPOT INC (HUBS 0.375 06/01/25)	NOTE 0.375% 6/0 · principal	2,818,000	$6.9M	Reduce -3.8%
PG&E CORP (PCG 6 12/01/27 A)	PFD CONV SER A	136,920	$6.8M	New
INTERDIGITAL INC (IDCC 3.5 06/01/27)	NOTE 3.500% 6/0 · principal	2,694,000	$6.8M	Reduce -3.5%
ADVANCED ENERGY IND (AEIS 2.5 09/15/28)	NOTE 2.500% 9/1 · principal	6,214,000	$6.8M	Reduce -4.1%
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	165,205	$6.7M	Add +1.3%
STRIDE INC (LRN 1.125 09/01/27)	NOTE 1.125% 9/0 · principal	3,257,000	$6.6M	Reduce -1.4%
EQUINOX GOLD CORP (EQXCN 4.75 10/15/28)	NOTE 4.750%10/1 · principal	5,963,000	$6.5M	Reduce -2.0%
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27)	NOTE 2.625%12/1 · principal	4,850,000	$6.5M	Reduce -4.5%
GUARDANT HEALTH INC (GH 0 11/15/27)	NOTE 11/1 · principal	7,647,000	$6.4M	Reduce -3.6%
BLOOM ENERGY CORP (BE 3 06/01/28)	NOTE 3.000% 6/0 · principal	4,630,000	$6.4M	Reduce -3.8%
INSULET CORPORATION (PODD 0.375 09/01/26)	NOTE 0.375% 9/0 · principal	5,024,000	$6.3M	Reduce -3.8%
EVERGY INC (EVRG 4.5 12/15/27)	NOTE 4.500%12/1 · principal	5,717,000	$6.2M	New
TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29)	NOTE 2.250% 3/0 · principal	6,507,000	$6.2M	New
SPOTIFY USA INC (SPOT 0 03/15/26)	NOTE 3/1 · principal	5,765,000	$6.1M	Reduce -3.9%
BURLINGTON STORES INC (BURL 1.25 12/15/27)	NOTE 1.250%12/1 · principal	4,052,000	$6.1M	Reduce -28.6%
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29)	NOTE 3.125% 1/1 · principal	4,412,000	$6.0M	Reduce -7.3%
AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25)	NOTE 6.500% 7/0 · principal	5,133,000	$6.0M	Reduce -37.4%
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	5,778,000	$6.0M	Reduce -4.0%
POST HOLDINGS INC (POST 2.5 08/15/27)	NOTE 2.500% 8/1 · principal	4,986,000	$5.8M	Reduce -6.2%
BLOCK INC (XYZ 0.25 11/01/27)	NOTE 0.250%11/0 · principal	6,659,000	$5.8M	Add +114.0%
IMPINJ INC (PI 1.125 05/15/27)	NOTE 1.125% 5/1 · principal	3,976,000	$5.6M	Reduce -3.7%
PENNYMAC CORP (PMT 5.5 03/15/26)	NOTE 5.500% 3/1 · principal	5,425,000	$5.3M	No change
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26)	NOTE 0.375% 6/1 · principal	5,403,000	$5.3M	Reduce -51.9%
AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29)	NOTE 2.000% 3/1 · principal	5,645,000	$5.3M	Reduce -38.8%
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29)	NOTE 3.625% 4/1 · principal	4,425,000	$5.2M	Add +2.8%
WISDOMTREE INC (WT 5.75 08/15/28)	NOTE 5.750% 8/1 · principal	4,000,000	$5.1M	No change
SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28)	NOTE 3.500%12/0 · principal	3,750,000	$5.1M	New
Q2 HOLDINGS INC (QTWO 0.75 06/01/26)	NOTE 0.750% 6/0 · principal	3,995,000	$4.9M	Reduce -3.9%
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28)	NOTE 1.000% 8/1 · principal	4,523,000	$4.9M	Reduce -42.6%
WAYFAIR INC (W 3.25 09/15/27)	NOTE 3.250% 9/1 · principal	4,564,000	$4.9M	Reduce -46.2%
GREENBRIER COS INC (GBX 2.875 04/15/28)	NOTE 2.875% 4/1 · principal	3,843,000	$4.7M	Reduce -8.3%
SEMTECH CORP (SMTC 1.625 11/01/27)	NOTE 1.625%11/0 · principal	2,611,000	$4.6M	Reduce -3.7%
IMAX CORP (IMAX 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	4,311,000	$4.6M	New
SNAP INC (SNAP 0 05/01/27)	NOTE 5/0 · principal	5,100,000	$4.4M	Reduce -8.4%
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	3,558,000	$4.2M	Reduce -3.7%
COLLEGIUM PHARMA INC (COLL 2.875 02/15/29)	NOTE 2.875% 2/1 · principal	4,000,000	$4.2M	Reduce -5.9%
CONMED CORP (CNMD 2.25 06/15/27)	NOTE 2.250% 6/1 · principal	4,376,000	$4.1M	No change
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	3,750,000	$4.0M	New
AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29)	NOTE 3.875% 8/1 · principal	4,000,000	$4.0M	Reduce -47.8%
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26)	NOTE 3.625% 6/1 · principal	3,953,000	$3.9M	Reduce -64.0%
CHEGG INC (CHGG 0.125 03/15/25)	NOTE 0.125% 3/1 · principal	4,000,000	$3.9M	No change
BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29)	NOTE 2.250% 2/0 · principal	4,500,000	$3.8M	No change
UNITED STATES STEEL CORP (X 5 11/01/26)	NOTE 5.000%11/0 · principal	1,482,000	$3.8M	Add +1352.9%
HAEMONETICS CORP (HAE 0 03/01/26)	NOTE 3/0 · principal	4,031,000	$3.8M	No change
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27)	NOTE 5.500% 3/1 · principal	3,767,000	$3.6M	Add +15.3%
MAKEMYTRIP LIMITED (MMYT 0 02/15/28)	NOTE 2/1 · principal	1,234,000	$3.6M	Reduce -3.7%
SEA LTD (SEALTD 2.375 12/01/25)	NOTE 2.375%12/0 · principal	2,835,000	$3.6M	New
CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28)	NOTE 3.875% 9/1 · principal	3,561,000	$3.6M	No change
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26)	NOTE 4.250% 8/1 · principal	3,500,000	$3.6M	Reduce -57.0%
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28)	NOTE 3.750% 3/1 · principal	3,250,000	$3.4M	No change
TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28)	NOTE 1.500% 6/0 · principal	3,223,000	$3.3M	Reduce -4.0%
NCL CORPORATION LTD (NCLH 5.375 08/01/25)	NOTE 5.375% 8/0 · principal	2,307,000	$3.3M	New
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)	NOTE 3.250%12/1 · principal	3,500,000	$3.3M	No change
EXACT SCIENCES CORP (EXAS 0.375 03/15/27)	NOTE 0.375% 3/1 · principal	3,500,000	$3.2M	No change
NRG ENERGY INC (NRG 2.75 06/01/48)	DBCV 2.750% 6/0 · principal	1,456,000	$3.2M	Reduce -3.9%
EVOLENT HEALTH INC (EVH 3.5 12/01/29)	NOTE 3.500%12/0 · principal	3,750,000	$3.2M	New
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27)	NOTE 2.500% 3/1 · principal	2,875,000	$3.0M	Reduce -36.6%
CNX RESOURCES CORP (CNX 2.25 05/01/26)	NOTE 2.250% 5/0 · principal	1,041,000	$3.0M	Reduce -60.4%
CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28)	NOTE 2.375%12/1 · principal	2,267,000	$2.9M	Reduce -10.6%
VERINT SYSTEMS INC (VRNT 0.25 04/15/26)	NOTE 0.250% 4/1 · principal	3,000,000	$2.8M	No change
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	2,683,000	$2.8M	No change
JAMF HOLDING CORP (JAMF 0.125 09/01/26)	NOTE 0.125% 9/0 · principal	3,000,000	$2.7M	No change
FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27)	NOTE 0.375% 1/1 · principal	3,000,000	$2.7M	No change
NEXTERA ENERGY INC (NEE 7.299 06/01/27)	UNIT 06/01/2027	54,250	$2.6M	Add +34.9%
RIVIAN AUTO INC (RIVN 4.625 03/15/29)	NOTE 4.625% 3/1 · principal	2,613,000	$2.6M	Add +27.8%
NCL CORPORATION LTD (NCLH 2.5 02/15/27)	NOTE 2.500% 2/1 · principal	2,500,000	$2.6M	No change
I3 VERTICALS LLC (IIIV 1 02/15/25)	NOTE 1.000% 2/1 · principal	2,600,000	$2.5M	No change
PEGASYSTEMS INC (PEGA 0.75 03/01/25)	NOTE 0.750% 3/0 · principal	2,500,000	$2.5M	No change
LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28)	NOTE 0.500% 6/1 · principal	2,500,000	$2.4M	No change
DAYFORCE INC (DAY 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	2,500,000	$2.4M	Reduce -30.9%
CENTURY ALUMINUM COMPANY (CENX 2.75 05/01/28)	NOTE 2.750% 5/0 · principal	2,025,000	$2.4M	No change
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	2,500,000	$2.3M	No change
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	2,500,000	$2.2M	No change
XOMETRY INC (XMTR 1 02/01/27)	NOTE 1.000% 2/0 · principal	2,000,000	$2.1M	Reduce -33.3%
ARBOR REALTY TRUST INC (ABR 7.5 08/01/25)	NOTE 7.500% 8/0 · principal	2,000,000	$2.0M	No change
SABRE GLBL INC (SABHLD 4 04/15/25)	NOTE 4.000% 4/1 · principal	2,000,000	$2.0M	New
MESA LABORATORIES INC (MLAB 1.375 08/15/25)	NOTE 1.375% 8/1 · principal	2,000,000	$1.9M	No change
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29)	NOTE 5.125%11/1 · principal	2,000,000	$1.9M	New
PROS HOLDINGS INC (PRO 2.25 09/15/27)	NOTE 2.250% 9/1 · principal	2,000,000	$1.9M	No change
NEXTERA ENERGY INC (NEE 6.926 09/01/25)	UNIT 09/01/2025	43,800	$1.8M	Reduce -32.8%
ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26)	NOTE 0.250% 6/1 · principal	2,000,000	$1.8M	No change
ZIFF DAVIS INC (ZD 1.75 11/01/26)	NOTE 1.750%11/0 · principal	1,850,000	$1.7M	No change
ENPHASE ENERGY INC (ENPH 0 03/01/28)	NOTE 3/0 · principal	2,073,000	$1.7M	No change
EZCORP INC (EZPW 2.375 05/01/25)	NOTE 2.375% 5/0 · principal	1,660,000	$1.6M	No change
AIRBNB INC (ABNB 0 03/15/26)	NOTE 3/1 · principal	1,733,000	$1.6M	Reduce -27.0%
3D SYSTEMS CORP (DDD 0 11/15/26)	NOTE 11/1 · principal	1,750,000	$1.6M	No change
SHAKE SHACK INC (SHAK 0 03/01/28)	NOTE 3/0 · principal	1,500,000	$1.5M	No change
ZIFF DAVIS INC (ZD 3.625 03/01/28)	DEBT 3.625% 3/0 · principal	1,542,000	$1.5M	No change
INNOVIVA INC (INVA 2.125 03/15/28)	NOTE 2.125% 3/1 · principal	1,531,000	$1.4M	No change
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	1,213,000	$1.3M	New
SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26)	NOTE 0.250%12/0 · principal	2,250,000	$1.3M	No change
ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28)	NOTE 1.000%12/0 · principal	1,500,000	$1.1M	New
RINGCENTRAL INC (RNG 0 03/01/25)	NOTE 3/0 · principal	1,050,000	$1.0M	No change
UBER TECHNOLOGIES INC (UBER 0 12/15/25)	NOTE 12/1 · principal	1,021,000	$1.0M	Add +7.0%
DEXCOM INC (DXCM 0.375 05/15/28)	NOTE 0.375% 5/1 · principal	1,115,000	$997K	Reduce -90.1%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27)	NOTE 0.375% 9/0 · principal	986,000	$989K	No change
SSR MINING INC (SSRMCN 2.5 04/01/39)	NOTE 2.500% 4/0 · principal	1,000,000	$961K	Reduce -60.0%
PELOTON INTERACTIVE INC (PTON 0 02/15/26)	NOTE 2/1 · principal	1,000,000	$930K	No change
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	763,000	$740K	Reduce -83.6%
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN)	MTNF 0.600% 5/2 · principal	725,000	$738K	No change
PARSONS CORP (PSN 0.25 08/15/25)	NOTE 0.250% 8/1 · principal	319,000	$651K	No change
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28)	NOTE 3.750% 5/1 · principal	329,000	$646K	Reduce -95.1%
SNAP INC (SNAP 0.125 03/01/28)	NOTE 0.125% 3/0 · principal	770,000	$630K	No change
ALLIANT ENERGY CORP (LNT 3.875 03/15/26)	NOTE 3.875% 3/1 · principal	583,000	$598K	Add +37.8%
SNAP INC (SNAP 0.75 08/01/26)	NOTE 0.750% 8/0 · principal	573,000	$556K	Reduce -5.8%
M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	328,000	$525K	Reduce -95.0%
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26)	NOTE 2.000% 6/1 · principal	514,000	$521K	Reduce -86.0%
EXACT SCIENCES CORP (EXAS 0.375 03/01/28)	NOTE 0.375% 3/0 · principal	591,000	$521K	New
EXPEDIA GROUP INC (EXPE 0 02/15/26)	NOTE 2/1 · principal	479,000	$475K	Reduce -83.9%
UPWORK INC (UPWK 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	500,000	$461K	No change
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26)	CONVERTIBLE BOND · principal	463,000	$429K	Reduce -92.4%
COINBASE GLOBAL INC (COIN 0.5 06/01/26)	NOTE 0.500% 6/0 · principal	386,000	$404K	Reduce -25.9%
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	465,000	$400K	Reduce -13.1%
ON SEMICONDUCTOR CORP (ON 0 05/01/27)	NOTE 5/0 · principal	305,000	$399K	No change
MIDDLEBY CORP (MIDD 1 09/01/25)	NOTE 1.000% 9/0 · principal	357,000	$399K	No change
GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25)	NOTE 1.250% 3/1 · principal	242,000	$357K	Reduce -93.0%
MICROSTRATEGY INC (MSTR 0 02/15/27)	NOTE 2/1 · principal	156,000	$321K	Reduce -93.6%
ZTO EXPRESS KY INC (ZTO 1.5 09/01/27)	NOTE 1.500% 9/0 · principal	313,000	$309K	No change
VARONIS SYSTEM INC (VRNS 1.25 08/15/25)	NOTE 1.250% 8/1 · principal	166,000	$241K	No change
PDD HOLDINGS INC (PDD 0 12/01/25)	NOTE 12/0 · principal	242,000	$232K	No change
EURONET WORLDWIDE INC (EEFT 0.75 03/15/49)	NOTE 0.750% 3/1 · principal	223,000	$220K	Reduce -29.9%
H WORLD GROUP LTD (HTHT 3 05/01/26)	NOTE 3.000% 5/0 · principal	174,000	$183K	No change
PEABODY ENERGY CORP (BTU 3.25 03/01/28)	NOTE 3.250% 3/0 · principal	124,000	$156K	No change
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	98,000	$100K	No change
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	92,000	$91K	No change
PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25)	NOTE 6.375% 3/0 · principal	92,000	$91K	No change
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27)	NOTE 0.250% 3/0 · principal	62,000	$59K	Reduce -97.9%
BLOCK INC (XYZ 0.125 03/01/25)	NOTE 0.125% 3/0 · principal	44,000	$44K	No change
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	28,000	$38K	No change

Total filed on the 13F, all lines: $1.3B.

Portfolio Sells Q3 2024 → Q4 2024


IEF iShares 7-10 Year Treasury B	Reduce -38.2%	1.49%	−1.24
IEMG iShares Core MSCI Emerging	Reduce -32.9%	1.44%	−1.08
LMBS First Trust Low Duration Opp	Reduce -27.3%	1.74%	−0.85
DHI D.R. Horton Inc.	Sold out	0.00%	−0.17
MSFT Microsoft Corp.	Reduce -0.1%	1.74%	−0.16
MU Micron Technology Inc.	Sold out	0.00%	−0.09
VZ Verizon Communications Inc.	Sold out	0.00%	−0.08
MRSH Marsh & McLennan Cos	Sold out	0.00%	−0.08
XLU St Sr Utl SL SE SPDR ETF-Usd	Reduce -0.1%	0.55%	−0.08
AMAT Applied Materials Inc.	Reduce -0.1%	0.13%	−0.04
JNJ Johnson & Johnson	Reduce -0.1%	0.21%	−0.04
BRK.B Berkshire Hathaway Inc. Class B	Reduce -0.1%	0.44%	−0.04
KO The Coca-Cola Co.	Reduce -0.1%	0.16%	−0.04
META Meta Platforms Inc. Class A	Reduce -0.1%	0.82%	−0.04
MRK Merck & Co. Inc.	Reduce -0.1%	0.15%	−0.03
PG The Procter & Gamble Co.	Reduce -0.1%	0.29%	−0.03
UBER Uber Technologies Inc.	Reduce -0.1%	0.09%	−0.03
ABBV Abbvie Inc.	Reduce -0.1%	0.15%	−0.03
PEP Pepsico Inc.	Reduce -0.0%	0.13%	−0.03
ICE Intercontinental Exchange Inc.	Reduce -0.1%	0.17%	−0.03
UNP Union Pacific Corp.	Reduce -0.1%	0.16%	−0.03
PFE Pfizer Inc.	Reduce -0.1%	0.13%	−0.02
ORCL Oracle Corp.	Reduce -0.1%	0.21%	−0.02
CMCSA Comcast Corp. Class A	Reduce -0.0%	0.10%	−0.02
ABT Abbott Laboratories	Reduce -0.1%	0.15%	−0.01
CVX Chevron Corp.	Reduce -0.1%	0.12%	−0.01
AIG American International Group	Reduce -0.1%	0.08%	−0.01
RIG Transocean Ltd.	Reduce -0.1%	0.02%	−0.00
TJX TJX Companies Inc.	Reduce -0.1%	0.09%	−0.00
WMT Walmart Inc.	Reduce -0.1%	0.14%	+0.01
CSCO Cisco Systems Inc.	Reduce -0.0%	0.17%	+0.01
DIS The Walt Disney Co.	Reduce -0.1%	0.11%	+0.01
AAPL Apple Inc.	Reduce -0.1%	1.41%	+0.01
BAC Bank of America Corp.	Reduce -0.1%	0.26%	+0.01
KKR KKR & Co. Inc.	Reduce -0.1%	0.20%	+0.01
FWONK Liberty Media Corp. Class C	Reduce -0.1%	0.12%	+0.01
V Visa Inc. Class A	Reduce -0.1%	0.25%	+0.02
JPM JPMorgan Chase & Co.	Reduce -0.1%	0.31%	+0.02
WFC Wells Fargo & Co.	Reduce -0.1%	0.17%	+0.02
NVDA Nvidia Corp.	Reduce -0.1%	1.56%	+0.05
GOOGL Alphabet Inc. Class A	Reduce -0.1%	1.04%	+0.07
AMZN Amazon.com Inc.	Reduce -0.1%	1.05%	+0.10
TSLA Tesla Inc.	Reduce -0.1%	0.32%	+0.10
AVGO Broadcom Inc.	Reduce -0.1%	0.54%	+0.11

Portfolio Buys Q3 2024 → Q4 2024


SHYG iShares 0-5 YR HY Corp. Bond	Add +120.5%	3.25%	+1.65
IWN iShares Russell 2000 Value E	Add +116.0%	3.14%	+1.56
BKLN Invesco Senior Loan ETF	Add +47.9%	3.77%	+1.06
SDVY First Trust Smid Cap Rising	Add +56.8%	2.35%	+0.73
BA The Boeing Co.	New	0.13%	+0.13
IVV iShares Core S&P 500 ETF	Add +5.0%	33.99%	+0.13
MRVL Marvell Technology Inc.	New	0.09%	+0.09
IYW iShares Ustechnology ETF	Add +6.2%	1.92%	+0.09
MS Morgan Stanley	New	0.09%	+0.09
BUFR FT Vest Lad Buffervetf-Usd I	Add +6.9%	2.11%	+0.04
ICVT iShares Convertible Bond ETF	Add +6.9%	2.47%	+0.04
EWJ iShares MSCI Japan ETF	Add +11.9%	0.46%	−0.01
JAAA Janus Henderson Aaa Clo ETF	Add +6.8%	4.10%	−0.01
QUAL iShares MSCI USA Quality Fac	Add +3.9%	1.62%	−0.06
INDA iShares MSCI India ETF	Add +11.4%	0.97%	−0.06
FLOT iShares Floating Rate Bond E	Add +1.7%	1.68%	−0.09
HDEF Xtrackers MSCI Eafe High Div	Add +9.0%	1.35%	−0.11
IYR iShares US Real Estate ETF	Add +5.3%	1.45%	−0.16
LQD Ishr Ibx Usd Invgd CB ETF-Ui	Add +6.9%	5.85%	−0.32
VXUS Vanguard Total Intl Stock	Add +7.4%	6.18%	−0.57

Notes & Other Activity Q3 2024 → Q4 2024


BOOKING HOLDINGS INC (BKNG 0.75 05/01/25)	NOTE 0.750% 5/0 · principal	Reduce -16.4%	12,830,000	$33.9M
BOEING CO/THE (BA 6 10/15/27)	DEP CONV PFD A	New	513,070	$31.6M
SOUTHERN CO (SO 3.875 12/15/25)	NOTE 3.875%12/1 · principal	Reduce -1.5%	28,459,000	$29.9M
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	Reduce -1.6%	19,671	$23.4M
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	Reduce -2.8%	22,232,000	$22.8M
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	New	19,470,000	$21.4M
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	Reduce -0.6%	16,573	$20.1M
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	Add +46.4%	20,124,000	$18.9M
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26)	SER A MAND CNV	Reduce -37.2%	211,840	$18.4M
PG&E CORP (PCG 4.25 12/01/27)	NOTE 4.250%12/0 · principal	New	16,849,000	$18.3M
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27)	NOTE 0.500% 8/0 · principal	Add +7.7%	15,215,000	$16.4M
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)	NOTE 2.875% 3/1 · principal	Reduce -1.2%	15,227,000	$15.9M
ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25)	NOTE 6.000% 8/1 · principal	Reduce -31.1%	3,395,000	$15.7M
NCL CORPORATION LTD (NCLH 1.125 02/15/27)	NOTE 1.125% 2/1 · principal	Add +46.2%	14,840,000	$15.4M
SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25)	NOTE 1.250% 5/0 · principal	Add +111.5%	14,758,000	$15.1M
WAYFAIR INC (W 1 08/15/26)	NOTE 1.000% 8/1 · principal	Reduce -4.6%	16,261,000	$15.0M
VENTAS REALTY LP (VTR 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	Reduce -31.5%	13,029,000	$14.8M
PALO ALTO NETWORKS (PANW 0.375 06/01/25)	NOTE 0.375% 6/0 · principal	Reduce -21.8%	3,986,000	$14.6M
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	New	10,601,000	$14.0M
SEAGATE HDD CAYMAN (STX 3.5 06/01/28)	NOTE 3.500% 6/0 · principal	Add +4.0%	11,623,000	$14.0M
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28)	NOTE 2.125% 2/1 · principal	Reduce -2.9%	8,429,000	$13.5M
TETRA TECH INC (TTEK 2.25 08/15/28)	DBCV 2.250% 8/1 · principal	Sold out	9,867,000	$12.9Mbefore exit
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B)	6.75 SE B PFD	New	219,060	$12.3M
AFFIRM HOLDINGS INC (AFRM 0 11/15/26)	NOTE 11/1 · principal	Reduce -6.6%	13,438,000	$12.1M
CABLE ONE INC (CABO 1.125 03/15/28)	NOTE 1.125% 3/1 · principal	Reduce -1.5%	14,425,000	$11.9M
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	New	12,923,000	$11.5M
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	Reduce -3.3%	10,382,000	$11.4M
HP ENTERPRISE CO (HPE 7.625 09/01/27)	7.625 MAND CONV	Add +333.9%	173,540	$10.7M
MONGODB INC (MDB 0.25 01/15/26)	NOTE 0.250% 1/1 · principal	Sold out	7,495,000	$10.3Mbefore exit
ZILLOW GROUP INC (Z 2.75 05/15/25)	NOTE 2.750% 5/1 · principal	Add +208.9%	8,929,000	$10.3M
INSMED INC (INSM 0.75 06/01/28)	NOTE 0.750% 6/0 · principal	Reduce -35.7%	4,752,000	$10.3M
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28)	NOTE 3/1 · principal	Add +0.1%	12,066,000	$10.3M
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27)	NOTE 2.250% 8/1 · principal	Reduce -3.2%	7,999,000	$9.8M
CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B)	6.75DP CNV PFD B	Reduce -2.1%	137,595	$9.7M
SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26)	NOTE 1.500% 2/1 · principal	Reduce -7.6%	10,069,000	$9.7M
AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25)	NOTE 0.125% 5/0 · principal	Reduce -3.8%	9,074,000	$9.6M
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	Reduce -1.1%	9,446,000	$9.3M
MIRUM PHARMACEUTICALS (MIRM 4 05/01/29)	NOTE 4.000% 5/0 · principal	Reduce -3.9%	6,013,000	$9.2M
PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26)	NOTE 1.750%12/1 · principal	Add +0.6%	9,672,000	$9.0M
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	Reduce -6.6%	7,129,000	$9.0M
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	Reduce -4.0%	7,394,000	$8.9M
AXON ENTERPRISE INC (AXON 0.5 12/15/27)	NOTE 0.500%12/1 · principal	Reduce -53.3%	3,346,000	$8.7M
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	Add +6.0%	9,732,000	$8.6M
NATERA INC (NTRA 2.25 05/01/27)	NOTE 2.250% 5/0 · principal	Sold out	2,567,000	$8.5Mbefore exit
LENDINGTREE INC (TREE 0.5 07/15/25)	NOTE 0.500% 7/1 · principal	Add +3.6%	8,779,000	$8.4M
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29)	NOTE 1.500%12/1 · principal	Add +0.7%	5,891,000	$8.2M
FRESHPET INC (FRPT 3 04/01/28)	NOTE 3.000% 4/0 · principal	Reduce -5.3%	3,695,000	$8.2M
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	Reduce -5.2%	6,655,000	$8.0M
FORD MOTOR COMPANY (F 0 03/15/26)	NOTE 3/1 · principal	Reduce -51.9%	8,188,000	$7.9M
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	Add +18.5%	6,234,000	$7.7M

Showing the first 50 of 147.

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	70	$290.8M	IVV, LQD, SPHY, JAAA, JMTG
Q1 2026	219	$1.2B	IVV, WESTERN DIGITAL CORP (WDC 3 11/15/28), NEXTERA ENERGY CAPITAL (NEE 3 03/01/27), UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028), LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30)
Q4 2025	68	$267.6M	IVV, LQD, VXUS, IEMG, IYW
Q3 2025	67	$264.5M	IVV, LQD, IEMG, VXUS, IYW
Q2 2025	66	$248.0M	IVV, LQD, IYW, VXUS, JAAA
Q1 2025	88	$247.2M	IVV, LQD, VXUS, IEF, JAAA
Q4 2024	89	$279.7M	IVV, VXUS, LQD, JAAA, BKLN
Q3 2024	90	$262.1M	IVV, VXUS, LQD, JAAA, IEF
Q2 2024	87	$252.8M	IVV, VXUS, LQD, FLOT, BKLN
Q1 2024	87	$252.6M	IVV, VXUS, LQD, IEF, FLOT