Tower Research Capital LLC (TRC)
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Tower Research Capital LLC (TRC) reported 5,175 stock positions worth $3.6 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 11.7% of the portfolio, followed by Nvidia (NVDA, 3.0%) and Microsoft (MSFT, 2.7%). Compared with Q2 2025, it opened 558 new positions, sold out of 602, added to 1,548 and reduced 3,043. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +163%) and the biggest sale Microsoft (MSFT, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001533421
- Portfolio Value
- $3.6B (Q3 2025)
- SEC Filing
- 0001533421-25-000019 ↗ filed Nov 14, 2025
Holdings Value
Holdings 5,175 stocks · $3.6B
| SPY SS SPDR S&P 500 ETF Trust-US | 11.74% | 638,532 | $425.4M | Add +162.9% |
| NVDA Nvidia Corp. | 2.98% | 578,462 | $107.9M | Reduce -21.5% |
| MSFT Microsoft Corp. | 2.70% | 188,923 | $97.9M | Reduce -32.4% |
| AAPL Apple Inc. | 2.04% | 290,700 | $74.0M | Reduce -41.3% |
| AMZN Amazon.com Inc. | 1.38% | 227,038 | $49.9M | Reduce -32.4% |
| SHY iShares 1-3 Year Treasury Bo | 1.29% | 562,446 | $46.7M | Add +23228.3% |
| META Meta Platforms Inc. Class A | 1.24% | 61,394 | $45.1M | Add +2.1% |
| AVGO Broadcom Inc. | 1.18% | 129,084 | $42.6M | Add +0.4% |
| QQQ Invesco QQQ Trust Series 1 | 1.16% | 70,100 | $42.1M | Reduce -49.9% |
| SOXL Direx Dail Semi Bu 3X Et-Usd | 1.13% | 1,174,290 | $40.9M | Add +105.7% |
| GOOGL Alphabet Inc. Class A | 1.02% | 152,669 | $37.1M | Reduce -17.5% |
| JPST JPMorgan Ultra-Short Income | 0.84% | 603,010 | $30.6M | New |
| VBIL Vanguard 0-3M T-Bill ETF | 0.81% | 386,776 | $29.2M | New |
| IWB iShares Russell 1000 ETF | 0.74% | 73,673 | $26.9M | Add +532.3% |
| SGOV iShares 0-3 Month Treasury B | 0.69% | 249,038 | $25.1M | Add +7680.0% |
| TSLA Tesla Inc. | 0.65% | 52,560 | $23.4M | Reduce -31.8% |
| NFLX Netflix Inc. | 0.64% | 19,290 | $23.1M | Add +110.4% |
| COST Costco Wholesale Corp. | 0.63% | 24,504 | $22.7M | Add +49.6% |
| GOOG Alphabet Inc. Class C | 0.56% | 83,843 | $20.4M | Reduce -44.1% |
| HOOD Robinhood Markets Inc. Class A | 0.55% | 138,012 | $19.8M | Add +69.8% |
| VCIT Vanguard Int-Term Corporate | 0.52% | 224,890 | $18.9M | Add +664.0% |
| VOD Vodafone Group PLC-SP ADR | 0.51% | 1,607,426 | $18.6M | Add +3.8% |
| JPM JPMorgan Chase & Co. | 0.50% | 57,887 | $18.3M | Reduce -51.6% |
| IWM iShares Russell 2000 ETF | 0.50% | 74,467 | $18.0M | Reduce -57.8% |
| ITOT iShares Core S&P Total U.S. | 0.49% | 122,872 | $17.9M | Add +7691.5% |
| JBBB Janus Henderson B-BBB Clo Et | 0.48% | 364,711 | $17.6M | Add +589.5% |
| AZN Astrazeneca PLC-Spons ADR | 0.47% | 222,835 | $17.1M | Add +47.6% |
| SPTS SS SPDR P St Term TSY ETF | 0.47% | 581,426 | $17.0M | Add +848.2% |
| RIO Rio Tinto PLC-Spon ADR | 0.45% | 248,450 | $16.4M | Reduce -11.9% |
| XLRE SS Real Estate Select Sector | 0.41% | 349,438 | $14.7M | Add +1128.4% |
| BP BP PLC-Spons ADR | 0.40% | 422,585 | $14.6M | Reduce -30.9% |
| DEO Diageo PLC-Sponsored ADR | 0.40% | 152,394 | $14.5M | Reduce -13.1% |
| IWF iShares Russell 1000 Growth | 0.39% | 30,127 | $14.1M | Add +134.2% |
| USFR Wisdomtree Floating Rate Tre | 0.39% | 280,369 | $14.1M | Add +40.7% |
| PLTR Palantir Technologies Inc. Class A | 0.38% | 74,890 | $13.7M | Reduce -69.4% |
| IVV iShares Core S&P 500 ETF | 0.37% | 19,785 | $13.2M | Reduce -32.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.36% | 168,597 | $13.2M | Add +497.8% |
| SHOP Shopify Inc. Class A | 0.36% | 86,813 | $12.9M | Add +217.4% |
| XLB SS Materials Select Sector | 0.34% | 137,239 | $12.3M | New |
| VCSH Vanguard S/T Corp. Bond ETF | 0.34% | 152,657 | $12.2M | Add +257.1% |
| CRWV Coreweave Inc. Class A | 0.33% | 86,550 | $11.8M | Add +211.5% |
| SPTI SS SPDR P Int Term TSY ETF | 0.33% | 409,534 | $11.8M | Add +23990.2% |
| BTI British American Tob-SP ADR | 0.32% | 221,403 | $11.8M | Reduce -10.8% |
| JNJ Johnson & Johnson | 0.32% | 63,379 | $11.8M | Reduce -26.8% |
| STIP iShares 0-5 Year Tips Bond E | 0.31% | 109,196 | $11.3M | New |
| XLK SS Technology Select Sector | 0.30% | 38,851 | $11.0M | Add +204379.0% |
| FENY Fidelity MSCI Energy Index | 0.30% | 441,631 | $10.9M | New |
| TBIL F/M US Treasury 3 Month Bill | 0.30% | 217,126 | $10.9M | New |
| PEP Pepsico Inc. | 0.30% | 76,405 | $10.7M | Add +10.8% |
| SAP Sap SE-Sponsored ADR | 0.29% | 39,263 | $10.5M | Add +919.5% |
| ARGX Argenx SE - ADR | 0.28% | 13,853 | $10.2M | Reduce -28.4% |
| GS Goldman Sachs Group Inc. | 0.28% | 12,548 | $10.0M | Add +2.5% |
| SNN Smith & Nephew PLC -Spon ADR | 0.27% | 273,852 | $9.9M | Reduce -23.1% |
| HD Home Depot Inc. | 0.27% | 24,442 | $9.9M | Reduce -21.5% |
| ANGL Vaneck Fallen Angel High YLD | 0.27% | 329,250 | $9.8M | Add +997627.3% |
| STM Stmicroelectronics NV-NY SHS | 0.27% | 345,211 | $9.8M | Add +791.9% |
| CRM Salesforce Inc. | 0.27% | 40,790 | $9.7M | Reduce -9.9% |
| PUK Prudential PLC-ADR | 0.27% | 345,195 | $9.7M | Reduce -10.6% |
| AEG Aegon Ltd.-NY Reg SHR | 0.27% | 1,207,468 | $9.6M | Add +46430.6% |
| RELX Relx PLC - Spon ADR | 0.27% | 201,668 | $9.6M | Add +22.1% |
| TMUS T-Mobile US Inc. | 0.26% | 38,832 | $9.3M | Add +68.3% |
| WMT Walmart Inc. | 0.26% | 89,804 | $9.3M | Reduce -16.4% |
| MCD McDonald's Corp. | 0.25% | 30,379 | $9.2M | Add +67.5% |
| FDN First Trust DJ Internet Ind | 0.25% | 31,919 | $8.9M | Add +36.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.25% | 17,687 | $8.9M | Reduce -74.0% |
| AMD Advanced Micro Devices | 0.24% | 54,830 | $8.9M | Add +85.9% |
| IVW iShares S&P 500 Growth ETF | 0.24% | 72,607 | $8.8M | Add +484.9% |
| INTU Intuit Inc. | 0.24% | 12,699 | $8.7M | Add +40.5% |
| SCHX Schwab US Large-Cap ETF | 0.24% | 327,660 | $8.6M | Add +12.3% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.23% | 140,318 | $8.4M | Add +65.0% |
| SCHA Schwab US Small-Cap ETF | 0.23% | 299,480 | $8.4M | Reduce -48.0% |
| LRCX Lam Research Corp. | 0.23% | 62,178 | $8.3M | Add +16.1% |
| TIP iShares Tips Bond ETF | 0.23% | 74,517 | $8.3M | New |
| EQNR Equinor ASA-Spon ADR | 0.23% | 338,595 | $8.3M | Add +725.2% |
| TS Tenaris SA-ADR | 0.23% | 228,748 | $8.2M | Add +3779.7% |
| LIN Linde PLC | 0.22% | 17,119 | $8.1M | Reduce -30.1% |
| PG The Procter & Gamble Co. | 0.22% | 52,918 | $8.1M | Reduce -33.0% |
| LLY Eli Lilly & Co. | 0.22% | 10,638 | $8.1M | Reduce -48.3% |
| V Visa Inc. Class A | 0.22% | 23,737 | $8.1M | Reduce -67.4% |
| MU Micron Technology Inc. | 0.22% | 48,369 | $8.1M | Add +38.1% |
| BABA Alibaba Group Holding-SP ADR | 0.22% | 45,223 | $8.1M | Add +83.3% |
| SPIB SS SPDR P Int C Corp. ETF | 0.22% | 234,524 | $7.9M | New |
| UNH Unitedhealth Group Inc. | 0.21% | 21,993 | $7.6M | Reduce -57.3% |
| TCOM Trip.com Group Ltd.-ADR | 0.20% | 97,428 | $7.3M | Add +691.1% |
| ORLY O'reilly Automotive Inc. | 0.20% | 67,020 | $7.2M | Add +414.1% |
| ORCL Oracle Corp. | 0.20% | 25,165 | $7.1M | Reduce -45.0% |
| LONZ PIMCO Senior Loan Active ETF | 0.19% | 137,396 | $7.0M | New |
| RSP Invesco S&P 500 Equal Weight | 0.19% | 36,977 | $7.0M | Add +138.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.19% | 24,275 | $6.8M | Add +7.6% |
| SMCI Super Micro Computer Inc. | 0.19% | 141,043 | $6.8M | Reduce -39.9% |
| ADBE Adobe Inc. | 0.19% | 19,156 | $6.8M | Reduce -0.7% |
| VNQ Vanguard Real Estate ETF | 0.18% | 73,117 | $6.7M | Add +510.1% |
| COIN Coinbase Global Inc. Class A | 0.18% | 19,554 | $6.6M | Reduce -0.1% |
| XLI SS Industrial Select Sector | 0.18% | 42,717 | $6.6M | Add +170768.0% |
| CMCSA Comcast Corp. Class A | 0.18% | 209,416 | $6.6M | Add +117.7% |
| CUK Carnival PLC-ADR | 0.18% | 247,869 | $6.6M | Add +14733.6% |
| BSJQ Invesco Bulletshares 2026 HY | 0.18% | 277,502 | $6.5M | New |
| CVX Chevron Corp. | 0.18% | 41,556 | $6.5M | Reduce -44.2% |
| NKE Nike Inc. Class B | 0.17% | 90,909 | $6.3M | Add +37.6% |
| ZROZ PIMCO 25+ YR Zero CPN US Tif | 0.17% | 93,100 | $6.3M | Add +289.6% |
Other holdings (16): bonds, preferreds, convertibles and warrants · $68K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 1,559 | $59K | Add +43.3% |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 545 | $4K | Reduce -82.3% |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 150 | $2K | No change |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 17 | $1K | Reduce -92.7% |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | 235 | $825 | New |
| RZLVW Rezolve AI PLC -CW27 | *W EXP 08/15/202 | 191 | $386 | New |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 25 | $275 | New |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 99 | $73 | New |
| EVEX.WS Eve Holdng Inc. -CW25 | *W EXP 05/09/202 | 100 | $44 | No change |
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 247 | $26 | No change |
| CRGOW Freightos Ltd.-CW28 | *W EXP 99/99/999 | 90 | $23 | No change |
| BRLSW Oxus Acquisition Corp. -CW23 | *W EXP 02/07/202 | 274 | $20 | No change |
| BZFDW Buzzfeed Inc. -CW27 | *W EXP 12/03/202 | 100 | $6 | No change |
| AERTW Aeries Technology Inc. -CW23 | *W EXP 11/06/202 | 156 | $6 | No change |
| SLDPW Decarbonization Plus -CW23 | *W EXP 12/08/202 | 7 | $3 | New |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | 11 | $1 | Add +175.0% |
Total filed on the 13F, all lines: $3.6B.
Portfolio Sells Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Reduce -32.4% | 2.70% | −1.05 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -49.9% | 1.16% | −0.92 |
| AAPL Apple Inc. | Reduce -41.3% | 2.04% | −0.70 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -74.0% | 0.25% | −0.65 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −0.64 |
| AMZN Amazon.com Inc. | Reduce -32.4% | 1.38% | −0.61 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -100.0% | 0.00% | −0.54 |
| IWM iShares Russell 2000 ETF | Reduce -57.8% | 0.50% | −0.53 |
| PLTR Palantir Technologies Inc. Class A | Reduce -69.4% | 0.38% | −0.52 |
| V Visa Inc. Class A | Reduce -67.4% | 0.22% | −0.47 |
| VTWO Vanguard Russell 2000 ETF | Reduce -100.0% | 0.00% | −0.46 |
| JPM JPMorgan Chase & Co. | Reduce -51.6% | 0.50% | −0.43 |
| XOM Exxon Mobil Corp. | Reduce -76.5% | 0.14% | −0.42 |
| AGG iShares Core U.S. Aggregate | Reduce -88.2% | 0.05% | −0.39 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -76.5% | 0.12% | −0.35 |
| MA Mastercard Inc. Class A | Reduce -75.0% | 0.12% | −0.35 |
| APP AppLovin Corp. Class A | Reduce -89.5% | 0.09% | −0.31 |
| TQQQ Proshares Ultrapro QQQ | Reduce -75.2% | 0.14% | −0.30 |
| IJH iShares Core S&P Midcap ETF | Reduce -100.0% | 0.00% | −0.30 |
| QCOM Qualcomm Inc. | Reduce -66.6% | 0.16% | −0.28 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -100.0% | 0.00% | −0.28 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -100.0% | 0.00% | −0.28 |
| WFC Wells Fargo & Co. | Reduce -82.5% | 0.06% | −0.27 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -98.8% | 0.00% | −0.26 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -98.9% | 0.00% | −0.25 |
| UNH Unitedhealth Group Inc. | Reduce -57.3% | 0.21% | −0.22 |
| CI The Cigna Group | Reduce -82.1% | 0.04% | −0.22 |
| PGR Progressive Corp. | Reduce -73.5% | 0.07% | −0.22 |
| ERIC Ericsson (lm) Tel-SP ADR | Reduce -74.1% | 0.08% | −0.22 |
| LLY Eli Lilly & Co. | Reduce -48.3% | 0.22% | −0.21 |
| MSTR Strategy Inc. | Reduce -80.1% | 0.04% | −0.21 |
| MRK Merck & Co. Inc. | Reduce -77.8% | 0.06% | −0.20 |
| VHT Vanguard Health Care ETF | Reduce -99.9% | 0.00% | −0.20 |
| IWN iShares Russell 2000 Value E | Reduce -85.9% | 0.04% | −0.20 |
| MAGS Roundhill Magnificent Seven | Sold out | 0.00% | −0.19 |
| IWV iShares Russell 3000 ETF | Sold out | 0.00% | −0.19 |
| SPUU Dir Dai S&P 500 Bu 2X ETF-US | Reduce -91.0% | 0.02% | −0.19 |
| FTSL First Trust Senior Loan ETF | Reduce -78.6% | 0.05% | −0.18 |
| BAC Bank of America Corp. | Reduce -57.7% | 0.16% | −0.18 |
| SPXL Direxion Daily S&P 500 Bull | Reduce -88.0% | 0.03% | −0.18 |
| XME SS SPDR S&P Metals Mining | Reduce -95.5% | 0.01% | −0.17 |
| ABBV Abbvie Inc. | Reduce -69.7% | 0.10% | −0.17 |
| SCHA Schwab US Small-Cap ETF | Reduce -48.0% | 0.23% | −0.16 |
| WMB Williams Cos Inc. | Reduce -73.7% | 0.06% | −0.16 |
| NVDA Nvidia Corp. | Reduce -21.5% | 2.98% | −0.16 |
| SPMO Invesco S&P 500 Momentum ETF | Sold out | 0.00% | −0.16 |
| GOOG Alphabet Inc. Class C | Reduce -44.1% | 0.56% | −0.15 |
| MLI Mueller Industries Inc. | Reduce -90.8% | 0.02% | −0.15 |
| AIT Applied Industrial Tech Inc. | Reduce -92.9% | 0.01% | −0.15 |
| IBB iShares Biotechnology ETF | Reduce -87.2% | 0.03% | −0.15 |
Portfolio Buys Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +162.9% | 11.74% | +7.69 |
| SHY iShares 1-3 Year Treasury Bo | Add +23228.3% | 1.29% | +1.28 |
| JPST JPMorgan Ultra-Short Income | New | 0.84% | +0.84 |
| VBIL Vanguard 0-3M T-Bill ETF | New | 0.81% | +0.81 |
| SOXL Direx Dail Semi Bu 3X Et-Usd | Add +105.7% | 1.13% | +0.74 |
| SGOV iShares 0-3 Month Treasury B | Add +7680.0% | 0.69% | +0.68 |
| IWB iShares Russell 1000 ETF | Add +532.3% | 0.74% | +0.64 |
| ITOT iShares Core S&P Total U.S. | Add +7691.5% | 0.49% | +0.49 |
| VCIT Vanguard Int-Term Corporate | Add +664.0% | 0.52% | +0.46 |
| SPTS SS SPDR P St Term TSY ETF | Add +848.2% | 0.47% | +0.42 |
| JBBB Janus Henderson B-BBB Clo Et | Add +589.5% | 0.48% | +0.42 |
| XLRE SS Real Estate Select Sector | Add +1128.4% | 0.41% | +0.37 |
| HOOD Robinhood Markets Inc. Class A | Add +69.8% | 0.55% | +0.34 |
| XLB SS Materials Select Sector | New | 0.34% | +0.34 |
| SPTI SS SPDR P Int Term TSY ETF | Add +23990.2% | 0.33% | +0.33 |
| STIP iShares 0-5 Year Tips Bond E | New | 0.31% | +0.31 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +497.8% | 0.36% | +0.31 |
| NFLX Netflix Inc. | Add +110.4% | 0.64% | +0.31 |
| XLK SS Technology Select Sector | Add +204379.0% | 0.30% | +0.30 |
| FENY Fidelity MSCI Energy Index | New | 0.30% | +0.30 |
| TBIL F/M US Treasury 3 Month Bill | New | 0.30% | +0.30 |
| SHOP Shopify Inc. Class A | Add +217.4% | 0.36% | +0.27 |
| ANGL Vaneck Fallen Angel High YLD | Add +997627.3% | 0.27% | +0.27 |
| AEG Aegon Ltd.-NY Reg SHR | Add +46430.6% | 0.27% | +0.27 |
| SAP Sap SE-Sponsored ADR | Add +919.5% | 0.29% | +0.26 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +257.1% | 0.34% | +0.24 |
| IWF iShares Russell 1000 Growth | Add +134.2% | 0.39% | +0.24 |
| STM Stmicroelectronics NV-NY SHS | Add +791.9% | 0.27% | +0.24 |
| TIP iShares Tips Bond ETF | New | 0.23% | +0.23 |
| TS Tenaris SA-ADR | Add +3779.7% | 0.23% | +0.22 |
| SPIB SS SPDR P Int C Corp. ETF | New | 0.22% | +0.22 |
| AVGO Broadcom Inc. | Add +0.4% | 1.18% | +0.22 |
| IVW iShares S&P 500 Growth ETF | Add +484.9% | 0.24% | +0.20 |
| CRWV Coreweave Inc. Class A | Add +211.5% | 0.33% | +0.20 |
| EQNR Equinor ASA-Spon ADR | Add +725.2% | 0.23% | +0.20 |
| LONZ PIMCO Senior Loan Active ETF | New | 0.19% | +0.19 |
| COST Costco Wholesale Corp. | Add +49.6% | 0.63% | +0.19 |
| AZN Astrazeneca PLC-Spons ADR | Add +47.6% | 0.47% | +0.19 |
| TCOM Trip.com Group Ltd.-ADR | Add +691.1% | 0.20% | +0.18 |
| XLI SS Industrial Select Sector | Add +170768.0% | 0.18% | +0.18 |
| CUK Carnival PLC-ADR | Add +14733.6% | 0.18% | +0.18 |
| BSJQ Invesco Bulletshares 2026 HY | New | 0.18% | +0.18 |
| ORLY O'reilly Automotive Inc. | Add +414.1% | 0.20% | +0.17 |
| HLN Haleon PLC-ADR | Add +24152.6% | 0.16% | +0.16 |
| VNQ Vanguard Real Estate ETF | Add +510.1% | 0.18% | +0.16 |
| IWD iShares Russell 1000 Value E | Add +339175.0% | 0.15% | +0.15 |
| BABA Alibaba Group Holding-SP ADR | Add +83.3% | 0.22% | +0.15 |
| KBWB Invesco KBW Bank ETF | Add +2929.1% | 0.15% | +0.14 |
| LABU DRXN DLY S&P BT BL 3X ETF-Ui | Add +664.7% | 0.15% | +0.14 |
| SCHD Schwab US DVD Equity ETF | Add +353203.9% | 0.14% | +0.14 |
Notes & Other Activity Q2 2025 → Q3 2025
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 3,516 | $140Kbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Sold out | 1,142 | $78Kbefore exit |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +43.3% | 1,559 | $59K |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Sold out | 590 | $44Kbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 1,054 | $40Kbefore exit |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Sold out | 737 | $35Kbefore exit |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Sold out | 538 | $29Kbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Sold out | 440 | $24Kbefore exit |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Sold out | 154 | $9Kbefore exit |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | Reduce -82.3% | 545 | $4K |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Sold out | 78 | $2Kbefore exit |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | Sold out | 66 | $2Kbefore exit |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Reduce -92.7% | 17 | $1K |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | New | 235 | $825 |
| RZLVW Rezolve AI PLC -CW27 | *W EXP 08/15/202 | New | 191 | $386 |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | New | 25 | $275 |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | New | 99 | $73 |
| SLDPW Decarbonization Plus -CW23 | *W EXP 12/08/202 | New | 7 | $3 |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | Add +175.0% | 11 | $1 |
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 | 5,161 | $4.1B | SPY, NVDA, IVV, AAPL, SPIB |
| Q1 2026 | 5,066 | $3.8B | QQQ, SOXL, AAPL, MSFT, MU |
| Q4 2025 | 5,101 | $4.1B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q3 2025 | 5,175 | $3.6B | SPY, NVDA, MSFT, AAPL, AMZN |
| Q2 2025 | 5,219 | $3.7B | SPY, MSFT, NVDA, AAPL, QQQ |
| Q1 2025 | 5,109 | $3.4B | QQQ, MSFT, AAPL, NVDA, AMZN |
| Q4 2024 | 5,588 | $5.0B | AAPL, MSFT, NVDA, AMZN, SPY |
| Q3 2024 | 5,598 | $3.8B | QQQ, SPY, SMCI, MSFT, NVDA |
| Q2 2024 | 5,573 | $5.9B | MSFT, AAPL, NVDA, SPY, AMZN |
| Q1 2024 | 5,738 | $4.2B | SPY, MSFT, NVDA, AAPL, AMZN |