Susquehanna Advisors Group, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Susquehanna Advisors Group, Inc. reported 73 stock positions worth $2.6 billion. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 15.8% of the portfolio, followed by Costco Wholesale (COST, 7.9%) and Micron Technology (MU, 7.9%). Compared with Q2 2025, it opened 47 new positions, sold out of 39, added to 11 and reduced 5. The biggest buy was a new position in Costco Wholesale (COST) and the biggest sale an exit from Taiwan Semiconductor-SP ADR (TSM).
- Most Recent 13F
- Q2 2026
- Location
- BALA CYNWYD, PA
- CIK
- 0001444949
- Portfolio Value
- $2.6B (Q3 2025)
- SEC Filing
- 0001444949-25-000007 ↗ filed Nov 14, 2025
Holdings Value
Holdings 73 stocks · $2.6B
| QQQ Invesco QQQ Trust Series 1 | 15.85% | 673,923 | $404.6M | No change |
| COST Costco Wholesale Corp. | 7.94% | 219,100 | $202.8M | New |
| MU Micron Technology Inc. | 7.90% | 1,204,900 | $201.6M | New |
| META Meta Platforms Inc. Class A | 7.86% | 273,200 | $200.6M | New |
| JD Jd.com Inc.-ADR | 6.07% | 4,427,800 | $154.9M | New |
| LLY Eli Lilly & Co. | 5.12% | 171,200 | $130.6M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 5.11% | 286,100 | $130.5M | New |
| PFE Pfizer Inc. | 4.99% | 5,000,000 | $127.4M | Add +21.1% |
| PDD PDD Holdings Inc. | 4.94% | 954,200 | $126.1M | Add +12.3% |
| CRM Salesforce Inc. | 3.90% | 420,000 | $99.5M | New |
| AVGO Broadcom Inc. | 3.81% | 295,000 | $97.3M | New |
| ASML ASML Holding NV-NY Reg SHS | 3.07% | 81,000 | $78.4M | New |
| NN Nextnav Inc. | 3.03% | 5,407,345 | $77.3M | Add +12.1% |
| XRT SS SPDR S&P Retail ETF | 2.53% | 750,000 | $64.6M | Reduce -21.1% |
| SNPS Synopsys Inc. | 2.01% | 104,200 | $51.4M | New |
| AMD Advanced Micro Devices | 1.94% | 306,700 | $49.6M | New |
| BA The Boeing Co. | 1.94% | 229,400 | $49.5M | New |
| C Citigroup Inc. | 1.93% | 485,400 | $49.3M | New |
| VST Vistra Corp. | 1.92% | 250,000 | $49.0M | New |
| NFLX Netflix Inc. | 1.16% | 24,600 | $29.5M | New |
| DB Deutsche Bank AG-Registered | 0.86% | 617,100 | $21.9M | No change |
| STLA Stellantis NV | 0.63% | 1,731,900 | $16.2M | New |
| TDG Transdigm Group Inc. | 0.61% | 11,807 | $15.6M | New |
| SVC Service Pptys TR | 0.54% | 5,121,419 | $13.9M | Add +9.0% |
| JBTM JBT Marel Corp. | 0.34% | 62,400 | $8.8M | New |
| VTI VG Morningstar TS MKT ETF-US | 0.28% | 21,775 | $7.1M | No change |
| WOLF Wolfspeed Inc. | 0.27% | 243,548 | $7.0M | New |
| CVLT Commvault Systems Inc. | 0.27% | 35,900 | $6.8M | New |
| AEM Agnico Eagle Mines Ltd. | 0.26% | 38,947 | $6.6M | No change |
| CC The Chemours Co. | 0.20% | 324,668 | $5.1M | Add +337.4% |
| CLS Celestica Inc. | 0.18% | 18,900 | $4.7M | Add +21.9% |
| LADR Ladder Capital Corp.-REIT | 0.17% | 399,638 | $4.4M | New |
| PENN Penn Entertainment Inc. | 0.17% | 225,309 | $4.3M | Add +80.3% |
| NBR Nabors Industries Ltd. | 0.16% | 102,136 | $4.2M | Add +3.4% |
| COMP Compass Inc. Class A | 0.16% | 516,198 | $4.1M | No change |
| RACE Ferrari NV | 0.16% | 8,500 | $4.1M | New |
| CYH Community Health Systems Inc. | 0.13% | 1,000,000 | $3.2M | Reduce -49.7% |
| CAMT Camtek Ltd. | 0.12% | 30,250 | $3.2M | New |
| YUMC Yum China Holdings Inc. | 0.12% | 73,300 | $3.1M | No change |
| CCO Clear Channel Outdoor Holdin | 0.12% | 1,911,519 | $3.0M | New |
| UBS UBS Group AG-Reg | 0.10% | 65,200 | $2.7M | New |
| CGAU Centerra Gold Inc. | 0.09% | 225,400 | $2.4M | New |
| BAM Brookfield Asset Mgmt-A | 0.09% | 40,300 | $2.3M | New |
| AD Array Digital Infrastructure | 0.08% | 41,757 | $2.1M | New |
| WBD Warner Bros Discovery Inc. | 0.08% | 100,260 | $2.0M | New |
| WIX Wix.com Ltd. | 0.06% | 8,646 | $1.5M | New |
| VEU Vanguard Ftse All-World Ex-U | 0.06% | 20,250 | $1.4M | No change |
| EQT Eqt Corp. | 0.05% | 24,752 | $1.3M | New |
| WFG West Fraser Timber Co. Ltd. | 0.05% | 19,510 | $1.3M | Add +78.5% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.05% | 33,827 | $1.3M | New |
| OTEX Open Text Corp. | 0.05% | 32,600 | $1.2M | New |
| SOFI Sofi Technologies Inc. | 0.04% | 43,492 | $1.1M | No change |
| JHX James Hardie Ind PLC | 0.04% | 50,212 | $965K | New |
| AQN Algonquin Power & Utilities | 0.04% | 177,400 | $953K | New |
| COHU Cohu Inc. | 0.03% | 43,469 | $884K | New |
| BTBT Bit Digital Inc. | 0.03% | 294,500 | $884K | New |
| ADTN Adtran Holdings Inc. | 0.03% | 82,552 | $774K | Reduce -10.4% |
| AR Antero Resources Corp. | 0.03% | 22,916 | $769K | New |
| RRC Range Resources Corp. | 0.02% | 16,106 | $606K | New |
| EXE Expand Energy Corp. | 0.02% | 5,584 | $593K | New |
| BIP Brookfield Infrastructure Pa | 0.02% | 16,100 | $530K | New |
| TECK Teck Resources Ltd.-CLS B | 0.02% | 11,600 | $509K | New |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.02% | 5,184 | $421K | Add +8.2% |
| BHC Bausch Health Cos Inc. | 0.02% | 63,600 | $410K | New |
| MEOH Methanex Corp. | 0.01% | 8,800 | $350K | New |
| SKE Skeena Resources Ltd. | 0.01% | 18,900 | $348K | Reduce -51.8% |
| VZLA Vizsla Silver Corp. | 0.01% | 76,000 | $328K | Add +43.1% |
| AUDC Audiocodes Ltd. | 0.01% | 22,811 | $217K | New |
| CNL Collective Mining Ltd. | 0.01% | 14,241 | $206K | New |
| BWLP BW LPG Ltd. | 0.01% | 14,400 | $206K | New |
| SNDL SNDL Inc. | 0.01% | 59,018 | $158K | No change |
| BTX BlackRock Tech & Priv Eqty | 0.00% | 10,600 | $71K | No change |
| LAR Lithium Argentina AG | 0.00% | 12,800 | $43K | Reduce -57.3% |
Options reported separately and not counted above: APP calls ($483.6M), MSTR puts ($214.5M), COST puts ($202.8M), MU puts ($201.6M), META puts ($200.6M), JD puts ($154.9M), LLY puts ($130.6M), PFE puts ($127.4M), PDD puts ($126.1M), ALNY puts ($125.8M), COOP calls ($101.3M), CRM puts ($99.5M), and 22 more.
Other holdings (60): bonds, preferreds, convertibles and warrants · $689.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 176,641,000 | $314.7M | Reduce -9.2% |
| SEMTECH CORP (SMTC 4 11/01/28) | NOTE 4.000%11/0 · principal | 42,000,000 | $150.8M | No change |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | 53,400,000 | $80.5M | Reduce -5.3% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 900,000 | $34.1M | New |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 430,000 | $23.6M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 249,400 | $17.4M | Reduce -63.0% |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 11,831,000 | $14.1M | Reduce -4.0% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 9,918,000 | $9.1M | Reduce -80.2% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 190,000 | $7.5M | Reduce -62.4% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 6,776,000 | $6.8M | Reduce -49.0% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 125,000 | $6.5M | Add +25.0% |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 20,000 | $5.4M | New |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 151,222,000 | $3.4M | Add +53.8% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 65,179 | $3.3M | Reduce -90.3% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 149,670,000 | $2.4M | Reduce -0.8% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 62,721,000 | $1.8M | Add +52.2% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 81,050,000 | $1.5M | Add +8.6% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 50,829,000 | $747K | Add +27.6% |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 37,850,000 | $715K | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 35,700,000 | $402K | Add +22.3% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 31,200,000 | $398K | Add +92.6% |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | 26,644,000 | $326K | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 12,500,000 | $302K | Add +212.5% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 17,500,000 | $266K | New |
| CIFRW Cipher Mining Inc. | *W EXP 08/27/202 | 50,000 | $250K | No change |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 19,567,000 | $234K | Reduce -67.2% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 19,200,000 | $214K | Add +479.9% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 20,606,000 | $194K | Reduce -47.6% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 17,500,000 | $192K | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 18,360,000 | $182K | Reduce -27.6% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 10,250,000 | $155K | No change |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 9,020,000 | $138K | Add +80.4% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 10,000,000 | $128K | Reduce -50.0% |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 10,225,000 | $114K | Reduce -21.4% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 3,500,000 | $112K | Reduce -84.9% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 10,000,000 | $101K | Reduce -64.9% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 10,254,000 | $101K | Reduce -41.4% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 10,000,000 | $100K | Add +100.0% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 10,000,000 | $99K | Add +100.0% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 7,488,000 | $97K | No change |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 10,000,000 | $96K | Add +33.3% |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 10,000,000 | $94K | New |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 9,000,000 | $89K | New |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 5,000,000 | $78K | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 5,000,000 | $70K | No change |
| LUMINAR TECHNOLOGIES INC (LAZR 11.5 01/15/30) | DEBT 11.500% 1/1 · principal | 19,109,000 | $69K | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 4,000,000 | $67K | New |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 6,000,000 | $66K | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 5,000,000 | $56K | Reduce -30.5% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 5,000,000 | $49K | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 4,500,000 | $46K | Reduce -79.5% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 2,500,000 | $34K | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 2,500,000 | $31K | New |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 2,500,000 | $28K | New |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 2,500,000 | $25K | New |
| LUMINAR TECHNOLOGIES INC (LAZR 9 01/15/30) | DEBT 9.000% 1/1 · principal | 8,190,000 | $24K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 2,500,000 | $24K | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 1,500,000 | $16K | New |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | 7,250,000 | $15K | No change |
| PIIIW P3 Health Partne -CW27 | *W EXP 11/19/202 | 50,000 | $460 | No change |
Total filed on the 13F, all lines: $3.2B.
Portfolio Sells Q2 2025 → Q3 2025
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −16.10 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −6.81 |
| FSLR First Solar Inc. | Sold out | 0.00% | −6.57 |
| INTC Intel Corp. | Sold out | 0.00% | −6.53 |
| B Barrick Mining Corp. | Sold out | 0.00% | −3.44 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −2.85 |
| XRT SS SPDR S&P Retail ETF | Reduce -21.1% | 2.53% | −2.31 |
| NET Cloudflare Inc. Class A | Sold out | 0.00% | −1.06 |
| RBRK Rubrik Inc. Class A | Sold out | 0.00% | −0.89 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.58 |
| SMLR Semler Scientific Inc. | Sold out | 0.00% | −0.46 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.43 |
| LIF LIFE360 Inc. | Sold out | 0.00% | −0.36 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.35 |
| CYH Community Health Systems Inc. | Reduce -49.7% | 0.13% | −0.32 |
| ODD Oddity Tech Ltd. Class A | Sold out | 0.00% | −0.30 |
| PAAS Pan American Silver Corp. | Sold out | 0.00% | −0.17 |
| STN Stantec Inc. | Sold out | 0.00% | −0.17 |
| SAND Sandstorm Gold Ltd. | Sold out | 0.00% | −0.14 |
| FLYYQ Spirit Aviation Holdings Inc. | Sold out | 0.00% | −0.14 |
| CAE Cae Inc. | Sold out | 0.00% | −0.13 |
| DSGX The Descartes Systems Grp | Sold out | 0.00% | −0.13 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −0.13 |
| MAG Mag Silver Corp. | Sold out | 0.00% | −0.13 |
| FSM Fortuna Mining Corp. | Sold out | 0.00% | −0.12 |
| EMA Emera Inc. | Sold out | 0.00% | −0.11 |
| GFL GFL Environmental Inc.-Sub VT | Sold out | 0.00% | −0.10 |
| FSV Firstservice Corp. | Sold out | 0.00% | −0.09 |
| SII Sprott Inc. | Sold out | 0.00% | −0.08 |
| XMTR Xometry Inc. Class A | Sold out | 0.00% | −0.07 |
| TFII Tfi International Inc. | Sold out | 0.00% | −0.06 |
| ERO Ero Copper Corp. | Sold out | 0.00% | −0.04 |
| BLDP Ballard Power Systems Inc. | Sold out | 0.00% | −0.04 |
| CIGI Colliers Intl GR-Subord Vot | Sold out | 0.00% | −0.03 |
| PDS Precision Drilling Corp. | Sold out | 0.00% | −0.03 |
| BBUC Brookfield Business Class A | Sold out | 0.00% | −0.03 |
| SKE Skeena Resources Ltd. | Reduce -51.8% | 0.01% | −0.03 |
| ASTL Algoma Steel Group Inc. | Sold out | 0.00% | −0.03 |
| ADTN Adtran Holdings Inc. | Reduce -10.4% | 0.03% | −0.02 |
| TSEM Tower Semiconductor Ltd. | Sold out | 0.00% | −0.02 |
| OR Or Royalties Inc. | Sold out | 0.00% | −0.02 |
| HAFN Hafnia Ltd. | Sold out | 0.00% | −0.00 |
| CRON Cronos Group Inc. | Sold out | 0.00% | −0.00 |
| LAR Lithium Argentina AG | Reduce -57.3% | 0.00% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| COST Costco Wholesale Corp. | New | 7.94% | +7.94 |
| MU Micron Technology Inc. | New | 7.90% | +7.90 |
| META Meta Platforms Inc. Class A | New | 7.86% | +7.86 |
| JD Jd.com Inc.-ADR | New | 6.07% | +6.07 |
| LLY Eli Lilly & Co. | New | 5.12% | +5.12 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 5.11% | +5.11 |
| CRM Salesforce Inc. | New | 3.90% | +3.90 |
| AVGO Broadcom Inc. | New | 3.81% | +3.81 |
| ASML ASML Holding NV-NY Reg SHS | New | 3.07% | +3.07 |
| SNPS Synopsys Inc. | New | 2.01% | +2.01 |
| AMD Advanced Micro Devices | New | 1.94% | +1.94 |
| BA The Boeing Co. | New | 1.94% | +1.94 |
| C Citigroup Inc. | New | 1.93% | +1.93 |
| VST Vistra Corp. | New | 1.92% | +1.92 |
| NFLX Netflix Inc. | New | 1.16% | +1.16 |
| STLA Stellantis NV | New | 0.63% | +0.63 |
| TDG Transdigm Group Inc. | New | 0.61% | +0.61 |
| JBTM JBT Marel Corp. | New | 0.34% | +0.34 |
| WOLF Wolfspeed Inc. | New | 0.27% | +0.27 |
| CVLT Commvault Systems Inc. | New | 0.27% | +0.27 |
| LADR Ladder Capital Corp.-REIT | New | 0.17% | +0.17 |
| RACE Ferrari NV | New | 0.16% | +0.16 |
| CC The Chemours Co. | Add +337.4% | 0.20% | +0.15 |
| CAMT Camtek Ltd. | New | 0.12% | +0.12 |
| CCO Clear Channel Outdoor Holdin | New | 0.12% | +0.12 |
| UBS UBS Group AG-Reg | New | 0.10% | +0.10 |
| CGAU Centerra Gold Inc. | New | 0.09% | +0.09 |
| BAM Brookfield Asset Mgmt-A | New | 0.09% | +0.09 |
| AD Array Digital Infrastructure | New | 0.08% | +0.08 |
| WBD Warner Bros Discovery Inc. | New | 0.08% | +0.08 |
| WIX Wix.com Ltd. | New | 0.06% | +0.06 |
| EQT Eqt Corp. | New | 0.05% | +0.05 |
| GDS GDS Holdings Ltd. - ADR | New | 0.05% | +0.05 |
| OTEX Open Text Corp. | New | 0.05% | +0.05 |
| JHX James Hardie Ind PLC | New | 0.04% | +0.04 |
| AQN Algonquin Power & Utilities | New | 0.04% | +0.04 |
| COHU Cohu Inc. | New | 0.03% | +0.03 |
| BTBT Bit Digital Inc. | New | 0.03% | +0.03 |
| AR Antero Resources Corp. | New | 0.03% | +0.03 |
| RRC Range Resources Corp. | New | 0.02% | +0.02 |
| EXE Expand Energy Corp. | New | 0.02% | +0.02 |
| CLS Celestica Inc. | Add +21.9% | 0.18% | +0.02 |
| PENN Penn Entertainment Inc. | Add +80.3% | 0.17% | +0.02 |
| BIP Brookfield Infrastructure Pa | New | 0.02% | +0.02 |
| TECK Teck Resources Ltd.-CLS B | New | 0.02% | +0.02 |
| BHC Bausch Health Cos Inc. | New | 0.02% | +0.02 |
| MEOH Methanex Corp. | New | 0.01% | +0.01 |
| AUDC Audiocodes Ltd. | New | 0.01% | +0.01 |
| CNL Collective Mining Ltd. | New | 0.01% | +0.01 |
| BWLP BW LPG Ltd. | New | 0.01% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| APP AppLovin Corp. Class A | call | New | 673,100 | $483.6M |
| TSM Taiwan Semiconductor-SP ADR | put | Sold out | 1,075,000 | $243.5Mbefore exit |
| COST Costco Wholesale Corp. | put | New | 219,100 | $202.8M |
| MU Micron Technology Inc. | put | New | 1,204,900 | $201.6M |
| META Meta Platforms Inc. Class A | put | New | 273,200 | $200.6M |
| JD Jd.com Inc.-ADR | put | New | 4,427,800 | $154.9M |
| LLY Eli Lilly & Co. | put | New | 171,200 | $130.6M |
| PFE Pfizer Inc. | put | Add +21.1% | 5,000,000 | $127.4M |
| PDD PDD Holdings Inc. | put | Add +12.3% | 954,200 | $126.1M |
| ALNY Alnylam Pharmaceuticals Inc. | put | New | 275,900 | $125.8M |
| NKE Nike Inc. Class B | put | Sold out | 1,450,000 | $103.0Mbefore exit |
| COOP Mr Cooper Group Inc. | call | New | 480,800 | $101.3M |
| CRM Salesforce Inc. | put | New | 420,000 | $99.5M |
| FSLR First Solar Inc. | put | Sold out | 600,000 | $99.3Mbefore exit |
| INTC Intel Corp. | put | Sold out | 4,410,000 | $98.8Mbefore exit |
| AVGO Broadcom Inc. | put | New | 295,000 | $97.3M |
| ASML ASML Holding NV-NY Reg SHS | put | New | 81,000 | $78.4M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +28.0% | 107,500 | $71.6M |
| DDOG Datadog Inc. Class A | call | New | 486,100 | $69.2M |
| RCL Royal Caribbean Cruises Ltd. | call | New | 202,500 | $65.5M |
| ONB Old National Bancorp | call | New | 2,954,500 | $64.9M |
| GFS Globalfoundries Inc. | call | New | 1,805,600 | $64.7M |
| FTI Technipfmc PLC | call | New | 1,589,700 | $62.7M |
| CHRW C.H. Robinson Worldwide Inc. | call | New | 442,700 | $58.6M |
| SE Sea Ltd.-ADR | call | New | 310,700 | $55.5M |
| B Barrick Mining Corp. | put | Sold out | 2,500,000 | $52.0Mbefore exit |
| SNPS Synopsys Inc. | put | New | 104,200 | $51.4M |
| AMD Advanced Micro Devices | put | New | 306,700 | $49.6M |
| BA The Boeing Co. | put | New | 229,400 | $49.5M |
| C Citigroup Inc. | put | New | 485,400 | $49.3M |
| VST Vistra Corp. | put | New | 250,000 | $49.0M |
| RBLX Roblox Corp. Class A | call | New | 275,400 | $38.1M |
| NFLX Netflix Inc. | put | New | 24,600 | $29.5M |
| BABA Alibaba Group Holding-SP ADR | call | New | 125,000 | $22.3M |
| CLSK Cleanspark Inc. | put | Sold out | 500,000 | $5.5Mbefore exit |
| CRWV Coreweave Inc. Class A | put | New | 30,000 | $4.1M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | Reduce -9.2% | 176,641,000 | $314.7M |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | Sold out | 707,300 | $81.5Mbefore exit |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | Reduce -5.3% | 53,400,000 | $80.5M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | New | 900,000 | $34.1M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 750,000 | $29.8Mbefore exit |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Sold out | 414,936 | $24.4Mbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -63.0% | 249,400 | $17.4M |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | Sold out | 350,000 | $15.5Mbefore exit |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | Reduce -4.0% | 11,831,000 | $14.1M |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Sold out | 45,131,000 | $11.2Mbefore exit |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Sold out | 125,000 | $9.4Mbefore exit |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Reduce -80.2% | 9,918,000 | $9.1M |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Sold out | 140,397 | $8.5Mbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Reduce -62.4% | 190,000 | $7.5M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Reduce -49.0% | 6,776,000 | $6.8M |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | Sold out | 10,550,000 | $6.8Mbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Add +25.0% | 125,000 | $6.5M |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | Sold out | 23,729,000 | $5.9Mbefore exit |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | New | 20,000 | $5.4M |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | Add +53.8% | 151,222,000 | $3.4M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Reduce -90.3% | 65,179 | $3.3M |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | Reduce -0.8% | 149,670,000 | $2.4M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Add +52.2% | 62,721,000 | $1.8M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Add +8.6% | 81,050,000 | $1.5M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +27.6% | 50,829,000 | $747K |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | New | 37,850,000 | $715K |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +22.3% | 35,700,000 | $402K |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Add +92.6% | 31,200,000 | $398K |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | New | 26,644,000 | $326K |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Add +212.5% | 12,500,000 | $302K |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | New | 17,500,000 | $266K |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | Reduce -67.2% | 19,567,000 | $234K |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Add +479.9% | 19,200,000 | $214K |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Reduce -47.6% | 20,606,000 | $194K |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | New | 17,500,000 | $192K |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Reduce -27.6% | 18,360,000 | $182K |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | Add +80.4% | 9,020,000 | $138K |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Reduce -50.0% | 10,000,000 | $128K |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | Reduce -21.4% | 10,225,000 | $114K |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -84.9% | 3,500,000 | $112K |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Sold out | 7,500,000 | $105Kbefore exit |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -64.9% | 10,000,000 | $101K |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Reduce -41.4% | 10,254,000 | $101K |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Add +100.0% | 10,000,000 | $100K |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Add +100.0% | 10,000,000 | $99K |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Add +33.3% | 10,000,000 | $96K |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | New | 10,000,000 | $94K |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | New | 9,000,000 | $89K |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | Sold out | 7,500,000 | $80Kbefore exit |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | New | 5,000,000 | $78K |
Showing the first 50 of 73.
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 |