Susquehanna Advisors Group, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Susquehanna Advisors Group, Inc. reported 65 stock positions worth $1.5 billion. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 24.6% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 16.1%) and Nike Class B (NKE, 6.8%). Compared with Q1 2025, it opened 43 new positions, sold out of 9, added to 7 and reduced 3. The biggest buy was a new position in Nike Class B (NKE) and the biggest sale an exit from Alphabet Class A (GOOGL).
- Most Recent 13F
- Q2 2026
- Location
- BALA CYNWYD, PA
- CIK
- 0001444949
- Portfolio Value
- $1.5B (Q2 2025)
- SEC Filing
- 0001444949-25-000005 ↗ filed Aug 14, 2025
Holdings Value
Holdings 65 stocks · $1.5B
| QQQ Invesco QQQ Trust Series 1 | 24.58% | 673,923 | $371.8M | No change |
| TSM Taiwan Semiconductor-SP ADR | 16.10% | 1,075,000 | $243.5M | Add +3.4% |
| NKE Nike Inc. Class B | 6.81% | 1,450,000 | $103.0M | New |
| PFE Pfizer Inc. | 6.62% | 4,130,000 | $100.1M | New |
| FSLR First Solar Inc. | 6.57% | 600,000 | $99.3M | New |
| INTC Intel Corp. | 6.53% | 4,410,000 | $98.8M | New |
| PDD PDD Holdings Inc. | 5.88% | 850,000 | $89.0M | New |
| NN Nextnav Inc. | 4.85% | 4,822,541 | $73.3M | No change |
| XRT SS SPDR S&P Retail ETF | 4.84% | 950,000 | $73.2M | Add +26.7% |
| B Barrick Mining Corp. | 3.44% | 2,500,000 | $52.0M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.85% | 69,873 | $43.2M | New |
| DB Deutsche Bank AG-Registered | 1.19% | 617,100 | $18.1M | Add +72.0% |
| NET Cloudflare Inc. Class A | 1.06% | 81,790 | $16.0M | New |
| RBRK Rubrik Inc. Class A | 0.89% | 150,413 | $13.5M | New |
| SVC Service Pptys TR | 0.74% | 4,700,473 | $11.2M | Add +147.0% |
| CYBR Cyberark Software Ltd./Israel | 0.58% | 21,600 | $8.8M | New |
| SMLR Semler Scientific Inc. | 0.46% | 181,494 | $7.0M | Reduce -55.5% |
| CYH Community Health Systems Inc. | 0.45% | 1,989,278 | $6.8M | Add +656.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 21,775 | $6.6M | No change |
| PARAA Paramount Global Class B | 0.43% | 505,357 | $6.5M | New |
| LIF LIFE360 Inc. | 0.36% | 84,000 | $5.5M | New |
| MCHP Microchip Technology Inc. | 0.35% | 75,000 | $5.3M | New |
| AEM Agnico Eagle Mines Ltd. | 0.31% | 38,947 | $4.6M | No change |
| ODD Oddity Tech Ltd. Class A | 0.30% | 59,200 | $4.5M | New |
| YUMC Yum China Holdings Inc. | 0.22% | 73,300 | $3.3M | No change |
| COMP Compass Inc. Class A | 0.21% | 516,198 | $3.2M | No change |
| NBR Nabors Industries Ltd. | 0.18% | 98,753 | $2.8M | Add +118.2% |
| PAAS Pan American Silver Corp. | 0.17% | 90,781 | $2.6M | New |
| STN Stantec Inc. | 0.17% | 23,051 | $2.5M | New |
| CLS Celestica Inc. | 0.16% | 15,500 | $2.4M | Add +252.3% |
| PENN Penn Entertainment Inc. | 0.15% | 125,000 | $2.2M | New |
| SAND Sandstorm Gold Ltd. | 0.14% | 229,500 | $2.2M | New |
| FLYYQ Spirit Aviation Holdings Inc. | 0.14% | 431,009 | $2.2M | New |
| CAE Cae Inc. | 0.13% | 67,937 | $2.0M | New |
| DSGX The Descartes Systems Grp | 0.13% | 19,500 | $2.0M | New |
| MIR Mirion Technologies Inc. | 0.13% | 91,689 | $2.0M | New |
| MAG Mag Silver Corp. | 0.13% | 90,840 | $1.9M | New |
| FSM Fortuna Mining Corp. | 0.12% | 277,100 | $1.8M | New |
| EMA Emera Inc. | 0.11% | 35,647 | $1.6M | New |
| GFL GFL Environmental Inc.-Sub VT | 0.10% | 30,857 | $1.6M | New |
| FSV Firstservice Corp. | 0.09% | 7,812 | $1.4M | New |
| VEU Vanguard Ftse All-World Ex-U | 0.09% | 20,250 | $1.4M | No change |
| SII Sprott Inc. | 0.08% | 17,051 | $1.2M | New |
| XMTR Xometry Inc. Class A | 0.07% | 30,606 | $1.0M | New |
| TFII Tfi International Inc. | 0.06% | 10,500 | $942K | New |
| CC The Chemours Co. | 0.06% | 74,219 | $850K | No change |
| ADTN Adtran Holdings Inc. | 0.05% | 92,112 | $826K | Reduce -5.7% |
| WFG West Fraser Timber Co. Ltd. | 0.05% | 10,933 | $801K | New |
| SOFI Sofi Technologies Inc. | 0.05% | 43,492 | $792K | No change |
| ERO Ero Copper Corp. | 0.04% | 38,121 | $642K | New |
| BLDP Ballard Power Systems Inc. | 0.04% | 402,500 | $640K | New |
| SKE Skeena Resources Ltd. | 0.04% | 39,229 | $625K | New |
| CIGI Colliers Intl GR-Subord Vot | 0.03% | 4,000 | $522K | New |
| PDS Precision Drilling Corp. | 0.03% | 10,800 | $510K | New |
| BBUC Brookfield Business Class A | 0.03% | 15,066 | $470K | New |
| ASTL Algoma Steel Group Inc. | 0.03% | 56,400 | $389K | New |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.03% | 4,793 | $387K | New |
| TSEM Tower Semiconductor Ltd. | 0.02% | 8,193 | $355K | New |
| OR Or Royalties Inc. | 0.02% | 12,911 | $332K | New |
| VZLA Vizsla Silver Corp. | 0.01% | 53,100 | $156K | No change |
| BTX BlackRock Tech & Priv Eqty | 0.01% | 10,600 | $78K | No change |
| SNDL SNDL Inc. | 0.00% | 59,018 | $71K | No change |
| HAFN Hafnia Ltd. | 0.00% | 14,000 | $70K | New |
| LAR Lithium Argentina AG | 0.00% | 30,000 | $62K | New |
| CRON Cronos Group Inc. | 0.00% | 25,399 | $49K | Reduce -93.5% |
Options reported separately and not counted above: MSTR puts ($269.1M), TSM puts ($243.5M), NKE puts ($103.0M), PFE puts ($100.1M), FSLR puts ($99.3M), INTC puts ($98.8M), PDD puts ($89.0M), B puts ($52.0M), SPY puts ($51.9M), MARA puts ($50.2M), RIVN puts ($10.3M), CLSK puts ($5.5M), and 1 more.
Other holdings (69): bonds, preferreds, convertibles and warrants · $1.0B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 194,546,000 | $418.6M | New |
| SEMTECH CORP (SMTC 4 11/01/28) | NOTE 4.000%11/0 · principal | 42,000,000 | $97.2M | Add +2.4% |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 707,300 | $81.5M | New |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | 56,400,000 | $70.8M | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 675,000 | $45.9M | Add +387.4% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 49,963,000 | $45.1M | Reduce -34.2% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 675,000 | $31.8M | Reduce -48.1% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 750,000 | $29.8M | New |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 430,000 | $26.7M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 414,936 | $24.4M | Reduce -26.6% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 505,000 | $19.0M | Reduce -40.6% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 350,000 | $15.5M | Reduce -53.3% |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 12,331,000 | $15.4M | Add +264.8% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 13,276,000 | $13.9M | Reduce -77.1% |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | 45,131,000 | $11.2M | Add +263.1% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 125,000 | $9.4M | New |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 140,397 | $8.5M | Add +60.5% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 7,193,000 | $7.8M | Reduce -56.7% |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 10,550,000 | $6.8M | No change |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | 23,729,000 | $5.9M | Add +314.2% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 100,000 | $5.4M | Reduce -75.0% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 150,800,000 | $2.8M | Add +1.7% |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 98,352,000 | $2.7M | Add +9.6% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 74,650,000 | $952K | New |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 41,221,000 | $741K | Reduce -26.4% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 59,667,000 | $672K | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 39,829,000 | $568K | Reduce -13.6% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 23,131,000 | $415K | Reduce -8.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 39,350,000 | $373K | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 29,200,000 | $323K | Add +94.7% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 28,500,000 | $283K | New |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 20,000,000 | $277K | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 25,360,000 | $249K | Add +13.6% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 22,000,000 | $217K | Add +25.7% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 16,200,000 | $179K | New |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 10,250,000 | $179K | Reduce -8.9% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 17,500,000 | $174K | Add +714.0% |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 13,000,000 | $161K | New |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 7,488,000 | $112K | Reduce -16.8% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 7,500,000 | $105K | Add +50.0% |
| LUMINAR TECHNOLOGIES INC (LAZR 11.5 01/15/30) | DEBT 11.500% 1/1 · principal | 19,109,000 | $87K | No change |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 7,500,000 | $80K | New |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 7,500,000 | $70K | Add +200.0% |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 5,000,000 | $68K | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 4,250,000 | $64K | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 4,000,000 | $61K | Reduce -50.0% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 5,000,000 | $60K | New |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 5,000,000 | $58K | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 5,000,000 | $57K | New |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 5,000,000 | $57K | New |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 4,776,000 | $50K | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 5,000,000 | $50K | Reduce -48.1% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 5,000,000 | $50K | New |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 5,000,000 | $50K | Add +42.9% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 5,000,000 | $49K | Add +233.3% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 5,000,000 | $48K | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 5,000,000 | $46K | New |
| CIFRW Cipher Mining Inc. | *W EXP 08/27/202 | 50,000 | $38K | No change |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 3,311,000 | $36K | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 3,500,000 | $33K | Add +40.0% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 3,840,000 | $32K | New |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 2,500,000 | $32K | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 3,234,000 | $32K | New |
| LUMINAR TECHNOLOGIES INC (LAZR 9 01/15/30) | DEBT 9.000% 1/1 · principal | 8,190,000 | $28K | No change |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 2,500,000 | $27K | New |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 2,500,000 | $24K | New |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 2,500,000 | $24K | No change |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | 7,250,000 | $6K | Add +81.3% |
| PIIIW P3 Health Partne -CW27 | *W EXP 11/19/202 | 50,000 | $565 | No change |
Total filed on the 13F, all lines: $2.5B.
Portfolio Sells Q1 2025 → Q2 2025
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −18.07 |
| CRM Salesforce Inc. | Sold out | 0.00% | −11.52 |
| MU Micron Technology Inc. | Sold out | 0.00% | −7.93 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −1.25 |
| SMLR Semler Scientific Inc. | Reduce -55.5% | 0.46% | −0.88 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.83 |
| BAM Brookfield Asset Mgmt-A | Sold out | 0.00% | −0.71 |
| CRON Cronos Group Inc. | Reduce -93.5% | 0.00% | −0.06 |
| ADTN Adtran Holdings Inc. | Reduce -5.7% | 0.05% | −0.02 |
| AG First Majestic Silver Corp. | Sold out | 0.00% | −0.02 |
| HIVE Hive Digital Technologies LT | Sold out | 0.00% | −0.01 |
| EU Encore Energy Corp. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| NKE Nike Inc. Class B | New | 6.81% | +6.81 |
| PFE Pfizer Inc. | New | 6.62% | +6.62 |
| FSLR First Solar Inc. | New | 6.57% | +6.57 |
| INTC Intel Corp. | New | 6.53% | +6.53 |
| PDD PDD Holdings Inc. | New | 5.88% | +5.88 |
| B Barrick Mining Corp. | New | 3.44% | +3.44 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 2.85% | +2.85 |
| NET Cloudflare Inc. Class A | New | 1.06% | +1.06 |
| RBRK Rubrik Inc. Class A | New | 0.89% | +0.89 |
| CYBR Cyberark Software Ltd./Israel | New | 0.58% | +0.58 |
| PARAA Paramount Global Class B | New | 0.43% | +0.43 |
| DB Deutsche Bank AG-Registered | Add +72.0% | 1.19% | +0.41 |
| CYH Community Health Systems Inc. | Add +656.2% | 0.45% | +0.38 |
| LIF LIFE360 Inc. | New | 0.36% | +0.36 |
| MCHP Microchip Technology Inc. | New | 0.35% | +0.35 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.4% | 16.10% | +0.34 |
| ODD Oddity Tech Ltd. Class A | New | 0.30% | +0.30 |
| SVC Service Pptys TR | Add +147.0% | 0.74% | +0.29 |
| PAAS Pan American Silver Corp. | New | 0.17% | +0.17 |
| STN Stantec Inc. | New | 0.17% | +0.17 |
| PENN Penn Entertainment Inc. | New | 0.15% | +0.15 |
| SAND Sandstorm Gold Ltd. | New | 0.14% | +0.14 |
| FLYYQ Spirit Aviation Holdings Inc. | New | 0.14% | +0.14 |
| CAE Cae Inc. | New | 0.13% | +0.13 |
| DSGX The Descartes Systems Grp | New | 0.13% | +0.13 |
| MIR Mirion Technologies Inc. | New | 0.13% | +0.13 |
| CLS Celestica Inc. | Add +252.3% | 0.16% | +0.13 |
| MAG Mag Silver Corp. | New | 0.13% | +0.13 |
| FSM Fortuna Mining Corp. | New | 0.12% | +0.12 |
| XRT SS SPDR S&P Retail ETF | Add +26.7% | 4.84% | +0.11 |
| EMA Emera Inc. | New | 0.11% | +0.11 |
| GFL GFL Environmental Inc.-Sub VT | New | 0.10% | +0.10 |
| FSV Firstservice Corp. | New | 0.09% | +0.09 |
| SII Sprott Inc. | New | 0.08% | +0.08 |
| XMTR Xometry Inc. Class A | New | 0.07% | +0.07 |
| TFII Tfi International Inc. | New | 0.06% | +0.06 |
| WFG West Fraser Timber Co. Ltd. | New | 0.05% | +0.05 |
| ERO Ero Copper Corp. | New | 0.04% | +0.04 |
| BLDP Ballard Power Systems Inc. | New | 0.04% | +0.04 |
| SKE Skeena Resources Ltd. | New | 0.04% | +0.04 |
| CIGI Colliers Intl GR-Subord Vot | New | 0.03% | +0.03 |
| PDS Precision Drilling Corp. | New | 0.03% | +0.03 |
| BBUC Brookfield Business Class A | New | 0.03% | +0.03 |
| ASTL Algoma Steel Group Inc. | New | 0.03% | +0.03 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 0.03% | +0.03 |
| TSEM Tower Semiconductor Ltd. | New | 0.02% | +0.02 |
| OR Or Royalties Inc. | New | 0.02% | +0.02 |
| NBR Nabors Industries Ltd. | Add +118.2% | 0.18% | +0.01 |
| HAFN Hafnia Ltd. | New | 0.00% | +0.00 |
| LAR Lithium Argentina AG | New | 0.00% | +0.00 |
Options Activity Q1 2025 → Q2 2025
| TSM Taiwan Semiconductor-SP ADR | put | Add +3.4% | 1,075,000 | $243.5M |
| GOOGL Alphabet Inc. Class A | put | Sold out | 1,280,000 | $197.9Mbefore exit |
| CRM Salesforce Inc. | put | Sold out | 470,000 | $126.1Mbefore exit |
| NKE Nike Inc. Class B | put | New | 1,450,000 | $103.0M |
| PFE Pfizer Inc. | put | New | 4,130,000 | $100.1M |
| FSLR First Solar Inc. | put | New | 600,000 | $99.3M |
| INTC Intel Corp. | put | New | 4,410,000 | $98.8M |
| PDD PDD Holdings Inc. | put | New | 850,000 | $89.0M |
| MU Micron Technology Inc. | put | Sold out | 1,000,000 | $86.9Mbefore exit |
| B Barrick Mining Corp. | put | New | 2,500,000 | $52.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 84,000 | $51.9M |
| IQ Iqiyi Inc.-ADR | put | Sold out | 20,746,300 | $46.9Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | New | 194,546,000 | $418.6M |
| SEMTECH CORP (SMTC 4 11/01/28) | NOTE 4.000%11/0 · principal | Add +2.4% | 42,000,000 | $97.2M |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | New | 707,300 | $81.5M |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | New | 56,400,000 | $70.8M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +387.4% | 675,000 | $45.9M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Reduce -34.2% | 49,963,000 | $45.1M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Reduce -48.1% | 675,000 | $31.8M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | New | 750,000 | $29.8M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | New | 430,000 | $26.7M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Reduce -26.6% | 414,936 | $24.4M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Reduce -40.6% | 505,000 | $19.0M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 12,132,000 | $16.1Mbefore exit |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | Reduce -53.3% | 350,000 | $15.5M |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | Add +264.8% | 12,331,000 | $15.4M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Reduce -77.1% | 13,276,000 | $13.9M |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Add +263.1% | 45,131,000 | $11.2M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | New | 125,000 | $9.4M |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Add +60.5% | 140,397 | $8.5M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | Reduce -56.7% | 7,193,000 | $7.8M |
| SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) | NOTE 0.250%12/0 · principal | Sold out | 82,881,000 | $7.6Mbefore exit |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | Sold out | 70,305,000 | $6.1Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | Add +314.2% | 23,729,000 | $5.9M |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | Sold out | 110,000 | $5.5Mbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Reduce -75.0% | 100,000 | $5.4M |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | Add +1.7% | 150,800,000 | $2.8M |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | Add +9.6% | 98,352,000 | $2.7M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 74,650,000 | $952K |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Reduce -26.4% | 41,221,000 | $741K |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 59,667,000 | $672K |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Reduce -13.6% | 39,829,000 | $568K |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 50,867,000 | $508Kbefore exit |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -8.0% | 23,131,000 | $415K |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | New | 39,350,000 | $373K |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +94.7% | 29,200,000 | $323K |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | New | 28,500,000 | $283K |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | New | 20,000,000 | $277K |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Add +13.6% | 25,360,000 | $249K |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +25.7% | 22,000,000 | $217K |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Sold out | 19,600,000 | $208Kbefore exit |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | New | 16,200,000 | $179K |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -8.9% | 10,250,000 | $179K |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Add +714.0% | 17,500,000 | $174K |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | New | 13,000,000 | $161K |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Sold out | 14,794,000 | $144Kbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 14,338,000 | $143Kbefore exit |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Reduce -16.8% | 7,488,000 | $112K |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Sold out | 10,000,000 | $108Kbefore exit |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Add +50.0% | 7,500,000 | $105K |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | Sold out | 9,500,000 | $98Kbefore exit |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Sold out | 10,500,000 | $90Kbefore exit |
Showing the first 50 of 81.
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 | 65 | $2.5B | QQQ, GEV, TSM, BABA, PFE |
| Q1 2026 | 65 | $1.5B | QQQ, PFE, MA, TSM, SHOP |
| Q4 2025 | 89 | $2.7B | QQQ, MU, META, AMZN, NVDA |
| Q3 2025 | 73 | $2.6B | QQQ, COST, MU, META, JD |
| Q2 2025 | 65 | $1.5B | QQQ, TSM, NKE, PFE, FSLR |
| Q1 2025 | 31 | $1.1B | QQQ, GOOGL, TSM, CRM, MU |
| Q4 2024 | 37 | $1.4B | QQQ, MSFT, UAL, AMD, PFE |