Union Bancaire Privee, UBP SA

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 18, 2025), Union Bancaire Privee, UBP SA reported 459 stock positions worth $6.8 billion. Its top holding was Microsoft (MSFT) at 21.2% of the portfolio, followed by Amazon.com (AMZN, 3.8%) and Nvidia (NVDA, 3.2%). Compared with Q1 2025, it opened 55 new positions, sold out of 52, added to 124 and reduced 158. The biggest buy was Blue Owl Capital (OBDC, shares +5%) and the biggest sale Visa Class A (V, shares −18%).

Most Recent 13F
Q2 2026
Location
GENEVA 1, V8
CIK
0001716607
Portfolio Value
$6.8B (Q2 2025)
SEC Filing
0001716607-25-000011 ↗ filed Jul 18, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q4 2024: $5.6B Q4 2024 Q1 2025: $5.1B Q1 2025 Q2 2025: $6.8B $6.8B Q2 2025 Q3 2025: $7.0B Q3 2025 Q4 2025: $8.4B Q4 2025 Q1 2026: $7.1B Q1 2026 Q2 2026: $9.1B Q2 2026

Holdings 459 stocks · $6.8B
MSFT Microsoft Corp. 21.18% 926,256 $1.4B Reduce -6.6%
AMZN Amazon.com Inc. 3.76% 1,270,156 $255.8M Reduce -8.7%
NVDA Nvidia Corp. 3.18% 1,339,923 $216.1M Add +5.7%
V Visa Inc. Class A 2.68% 525,630 $182.3M Reduce -17.7%
AVGO Broadcom Inc. 2.48% 668,955 $168.7M Reduce -2.3%
GOOG Alphabet Inc. Class C 2.32% 953,610 $157.6M Reduce -7.9%
META Meta Platforms Inc. Class A 2.25% 196,251 $153.0M Add +0.7%
GOOGL Alphabet Inc. Class A 2.22% 842,909 $151.3M Add +2.2%
OBDC Blue Owl Capital Corp. 2.11% 67,828 $143.3M Add +5.1%
MAIN Main Street Capital Corp. 2.06% 16,319 $139.8M Add +5.1%
AAPL Apple Inc. 2.03% 653,497 $137.9M Reduce -5.2%
TSM Taiwan Semiconductor-SP ADR 2.02% 639,662 $137.2M Add +5.5%
SPGI S&P Global Inc. 1.81% 237,560 $123.0M Reduce -15.5%
ORCL Oracle Corp. 1.79% 356,056 $121.9M Add +4.4%
INTU Intuit Inc. 1.75% 154,227 $118.9M Reduce -3.6%
NDAQ Nasdaq Inc. 1.71% 1,380,872 $116.4M Reduce -5.1%
JPM JPMorgan Chase & Co. 1.47% 367,359 $99.7M Add +8.4%
HTGC Hercules Capital Inc. 1.38% 35,781 $93.9M Add +5.1%
GBDC Golub Capital BDC Inc. 1.29% 41,919 $87.5M Add +5.1%
MA Mastercard Inc. Class A 1.14% 123,466 $77.4M Reduce -2.3%
ECL Ecolab Inc. 1.05% 283,716 $71.3M Reduce -12.7%
AZO AutoZone Inc. 1.00% 20,253 $68.2M Add +487.0%
LLY Eli Lilly & Co. 1.00% 83,324 $68.0M Add +6.5%
TSLX Sixth Street Specialty Lendi 0.96% 19,319 $65.6M Add +5.1%
NFLX Netflix Inc. 0.96% 47,123 $65.2M Add +74.6%
PANW Palo Alto Networks Inc. 0.96% 348,228 $65.0M Add +15.6%
PWR Quanta Services Inc. 0.94% 170,339 $64.1M Add +7.7%
ROP Roper Technologies Inc. 0.92% 117,245 $62.7M Reduce -10.4%
ABBV Abbvie Inc. 0.88% 335,238 $59.7M Add +44717.9%
HUDSON PAC PPTYS INC 0.82% 144,000 $55.7M No change
NOW ServiceNow Inc. 0.82% 57,931 $55.5M Add +4.5%
ADBE Adobe Inc. 0.81% 141,586 $55.3M Reduce -14.3%
PH Parker Hannifin Corp. 0.78% 68,840 $53.4M Add +16.9%
GSBD Goldman Sachs BDC Inc. 0.76% 30,678 $51.7M Add +5.1%
MCD McDonald's Corp. 0.75% 184,465 $50.8M Reduce -11.9%
KO The Coca-Cola Co. 0.71% 575,864 $48.5M Add +13.2%
CRM Salesforce Inc. 0.66% 175,054 $45.2M Reduce -41.0%
CSWC Capital Southwest Corp. 0.66% 14,349 $45.1M Add +5.1%
NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP 0.64% 28,812 $43.9M Add +5.1%
AMAT Applied Materials Inc. 0.64% 48,239 $43.2M Reduce -36.0%
BRK.B Berkshire Hathaway Inc. Class B 0.62% 85,141 $42.1M Reduce -13.4%
GAIN Gladstone Investment Corp. 0.59% 19,806 $40.4M Add +5.1%
PG The Procter & Gamble Co. 0.59% 214,004 $39.9M Reduce -21.8%
CVX Chevron Corp. 0.50% 246,314 $33.9M Reduce -32.0%
ABT Abbott Laboratories 0.49% 220,421 $33.7M Reduce -12.1%
MRSH Marsh & McLennan Cos 0.49% 141,295 $33.4M Add +18.8%
MRK Merck & Co. Inc. 0.45% 367,101 $30.5M Add +322.8%
JNJ Johnson & Johnson 0.44% 160,521 $30.1M Add +2.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.44% 46,775 $29.7M Add +32.8%
RTX RTX Corp. 0.41% 208,501 $27.6M Add +1065.4%
EQT Eqt Corp. 0.40% 469,723 $27.1M Add +12713.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.39% 186,361 $26.7M New
RSG Republic Services Inc. 0.38% 105,963 $25.8M Reduce -35.9%
HON Honeywell International Inc. 0.38% 95,751 $25.8M Reduce -2.6%
AMD Advanced Micro Devices 0.38% 196,065 $25.6M Add +68.8%
MSI Motorola Solutions Inc. 0.37% 62,791 $25.1M Reduce -14.3%
HD Home Depot Inc. 0.36% 71,032 $24.8M Reduce -12.8%
TRIN Trinity Capital Inc. 0.36% 11,760 $24.7M Add +5.1%
COST Costco Wholesale Corp. 0.36% 17,639 $24.5M Add +73.7%
BSX Boston Scientific Corp. 0.34% 223,934 $23.2M Reduce -6.2%
PLTR Palantir Technologies Inc. Class A 0.34% 220,964 $23.1M Add +1.9%
VRT Vertiv Holdings Co. Class A 0.32% 201,247 $22.0M Add +452.9%
URI United Rentals Inc. 0.29% 21,344 $20.1M Add +45.7%
LAUR Laureate Education Inc. 0.29% 856,754 $19.6M Add +16.2%
VCIT Vanguard Int-Term Corporate 0.27% 227,192 $18.6M Add +16.4%
GE General Electric filed as GE AEROSPACE 0.27% 53,995 $18.4M Add +208.2%
BABA Alibaba Group Holding-SP ADR 0.26% 162,959 $17.9M Add +355.2%
NEAR iShares SH Dba ETF Usd Inc. 0.25% 338,573 $17.3M Add +4.0%
WMT Walmart Inc. 0.25% 112,423 $16.9M Reduce -56.1%
GS Goldman Sachs Group Inc. 0.24% 26,998 $16.6M Add +16.8%
UNP Union Pacific Corp. 0.23% 48,142 $15.5M Reduce -42.7%
ISRG Intuitive Surgical Inc. 0.22% 24,035 $15.2M Add +68.1%
QCOM Qualcomm Inc. 0.22% 75,207 $15.2M Add +9.2%
TOL Toll Brothers Inc. 0.20% 121,100 $13.8M No change
VCSH Vanguard S/T Corp. Bond ETF 0.20% 174,089 $13.7M Add +1.6%
KGC Kinross Gold Corp. 0.20% 952,523 $13.7M Add +344.4%
MRVL Marvell Technology Inc. 0.20% 191,944 $13.7M Add +129.2%
VST Vistra Corp. 0.19% 80,122 $13.0M Add +677.2%
ADSK Autodesk Inc. 0.19% 26,628 $12.6M Add +65.2%
QQQ Invesco QQQ Trust Series 1 0.18% 23,693 $12.5M Add +15.8%
SPIB SS SPDR P Int C Corp. ETF 0.18% 363,549 $12.2M No change
CSCO Cisco Systems Inc. 0.17% 40,009 $11.5M Reduce -3.7%
CMI Cummins Inc. 0.16% 23,901 $11.1M Add +34.7%
CEG Constellation Energy 0.16% 39,824 $10.7M Add +1026.2%
CMG Chipotle Mexican Grill Inc. 0.15% 202,474 $10.3M Add +5.7%
OKTA Okta Inc. 0.14% 111,345 $9.7M No change
TXN Texas Instruments Inc. 0.14% 21,509 $9.7M Reduce -27.4%
CNI Canadian Natl Railway Co. 0.14% 43,024 $9.6M Add +793.4%
CDNS Cadence Design SYS Inc. 0.14% 34,674 $9.3M Add +0.6%
WM Waste Management Inc. 0.14% 30,589 $9.2M Add +42.6%
IBKR Interactive Brokers Gro Class A 0.13% 201,104 $9.1M Add +61.7%
AMGN Amgen Inc. 0.13% 4,432 $9.1M Add +94.4%
C Citigroup Inc. 0.13% 116,947 $9.1M Reduce -3.0%
PEP Pepsico Inc. 0.13% 42,926 $9.1M Reduce -14.6%
CRS Carpenter Technology 0.13% 39,745 $8.8M New
WDAY Workday Inc. Class A 0.12% 38,783 $8.3M Reduce -2.9%
NET Cloudflare Inc. Class A 0.12% 50,564 $8.3M Add +23.8%
MDB Mongodb Inc. 0.12% 44,004 $8.2M Add +119.8%
SJNK SS SPDR BB St Hi Yield ETF 0.12% 319,600 $8.1M Add +100.3%
CBRE CBRE Group Inc. Class A 0.12% 57,500 $8.0M No change
MCK McKesson Corp. 0.12% 11,179 $7.9M Reduce -60.5%
TMO Thermo Fisher Scientific Inc. 0.11% 20,895 $7.6M Reduce -84.7%
HOOD Robinhood Markets Inc. Class A 0.11% 108,092 $7.2M New
BKNG Booking Holdings Inc. 0.10% 1,320 $6.8M Add +43.6%
GHYG iShares Us&intl High Yield C 0.10% 148,188 $6.8M Add +96.9%
FISV Fiserv Inc. 0.10% 45,287 $6.8M Reduce -20.2%
GLD SPDR Gold Shares 0.10% 23,104 $6.6M Add +32.5%
CAT Caterpillar Inc. 0.09% 18,458 $6.1M Reduce -31.2%
MELI MercadoLibre Inc. 0.09% 2,713 $6.1M Reduce -1.9%
MS Morgan Stanley 0.08% 46,295 $5.7M Add +2.2%
APP AppLovin Corp. Class A 0.08% 21,023 $5.6M New
PDD PDD Holdings Inc. 0.08% 56,727 $5.4M Add +20.8%
TEAM Atlassian Corp. Class A 0.08% 29,555 $5.4M Add +1.6%
JLL Jones Lang Lasalle Inc. 0.08% 20,300 $5.2M No change
DELL Dell Technologies -C 0.08% 47,651 $5.2M Reduce -0.2%
SPG Simon Property Group Inc. 0.08% 32,100 $5.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 21,484 $5.0M Add +167.5%
DE Deere & Co. 0.07% 10,130 $5.0M Add +18.6%
DT Dynatrace Inc. 0.07% 95,014 $4.6M Reduce -26.2%
JNPR Juniper Networks Inc. 0.07% 139,080 $4.6M Reduce -40.6%
CACI Caci International Inc. Class A 0.07% 10,582 $4.5M New
LNG Cheniere Energy Inc. 0.06% 17,912 $4.1M Reduce -6.8%
NEE Nextera Energy Inc. 0.06% 62,699 $4.1M Add +37.1%
RBRK Rubrik Inc. Class A 0.06% 57,900 $4.0M New
EMB iShares JP Morgan Usd Emergi 0.06% 42,900 $4.0M No change
SE Sea Ltd.-ADR 0.06% 27,112 $3.9M Reduce -15.2%
GTLB Gitlab Inc. Class A 0.06% 96,854 $3.8M No change
XYL Xylem Inc. 0.06% 29,501 $3.8M Reduce -0.1%
VSEC Vse Corp. 0.06% 36,000 $3.7M New
TTEK Tetra Tech Inc. 0.05% 103,649 $3.7M Add +1.4%
MAR Marriott International Class A 0.05% 15,679 $3.7M Reduce -0.2%
CLH Clean Harbors Inc. 0.05% 16,009 $3.7M Reduce -14.1%
STN Stantec Inc. 0.05% 37,222 $3.6M Add +71.6%
SHOP Shopify Inc. Class A 0.05% 38,850 $3.5M New
VEEV Veeva Systems Inc. Class A 0.05% 14,167 $3.5M Reduce -13.7%
DDOG Datadog Inc. Class A 0.05% 29,064 $3.4M Reduce -25.2%
T AT&T Inc. 0.05% 147,646 $3.3M Add +990.0%
APH Amphenol Corp. Class A 0.05% 42,600 $3.3M New
CME Cme Group Inc. 0.05% 13,486 $3.3M New
MTN Vail Resorts Inc. 0.05% 19,600 $3.1M No change
YMM Full Truck Alliance -SPN ADR 0.05% 294,422 $3.1M No change
ELF Elf Beauty Inc. 0.04% 29,850 $3.0M New
WMS Advanced Drainage Systems Inc. 0.04% 25,642 $3.0M Reduce -17.9%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.04% 27,764 $3.0M No change
BZ Kanzhun Ltd. - ADR 0.04% 184,046 $3.0M Add +40.8%
NTNX Nutanix Inc. Class A 0.04% 44,112 $2.9M Reduce -2.2%
TSLA Tesla Inc. 0.04% 9,732 $2.9M Add +78.7%
WAB Wabtec Corp. 0.04% 14,170 $2.9M No change
VLTO Veralto Corp. 0.04% 28,852 $2.9M Add +5.0%
XOM Exxon Mobil Corp. 0.04% 28,002 $2.9M Reduce -53.0%
ATO Atmos Energy Corp. 0.04% 23,400 $2.9M New
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.04% 25,942 $2.8M Reduce -7.2%
PFE Pfizer Inc. 0.04% 129,946 $2.8M Reduce -30.1%
BIDU Baidu Inc. - Spon ADR 0.04% 27,352 $2.7M No change
ADI Analog Devices Inc. 0.04% 11,539 $2.7M Add +20.4%
HUBB Hubbell Inc. 0.04% 6,562 $2.7M No change
IONQ Ionq Inc. 0.04% 82,500 $2.7M Add +8150.0%
WY Weyerhaeuser Co. 0.04% 100,165 $2.6M Add +1.4%
SYK Stryker Corp. 0.04% 6,736 $2.6M No change
CCK Crown Holdings Inc. 0.04% 25,079 $2.6M No change
FDN First Trust DJ Internet Ind 0.04% 10,010 $2.6M Reduce -18.4%
SNPS Synopsys Inc. 0.04% 5,547 $2.6M Reduce -20.7%
GWRE Guidewire Software Inc. 0.04% 12,202 $2.6M Reduce -29.0%
SFM Sprouts Farmers Market Inc. 0.04% 15,274 $2.5M Reduce -9.7%
WCN Waste Connections Inc. 0.04% 14,095 $2.4M Reduce -12.1%
SBUX Starbucks Corp. 0.04% 3,375 $2.4M Add +5.5%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 37,200 $2.4M New
MAA Mid-America Apartment Comm 0.04% 16,100 $2.4M No change
HII Huntington Ingalls Industrie 0.03% 12,463 $2.4M New
FEZ State Street SPDR Euro Stoxx 0.03% 49,680 $2.4M New
OKLO Oklo Inc. 0.03% 52,500 $2.3M New
ACWI iShares MSCI Acwi ETF 0.03% 11,836 $2.3M Reduce -69.7%
APG Api Group Corp. 0.03% 52,382 $2.3M New
ARCC Ares Capital Corp. 0.03% 102,777 $2.3M Add +5.1%
FTNT Fortinet Inc. 0.03% 21,697 $2.3M No change
EQIX Equinix Inc. 0.03% 6,519 $2.2M Add +2016.6%
DUK Duke Energy Corp. 0.03% 23,003 $2.2M Reduce -60.7%
EWY iShares MSCI South Korea ETF 0.03% 30,476 $2.1M Add +58.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 43,385 $2.0M Reduce -11.7%
BMI Badger Meter Inc. 0.03% 8,167 $2.0M Reduce -4.4%
NRG NRG Energy Inc. 0.03% 14,274 $2.0M Reduce -3.3%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.03% 119,692 $2.0M No change
EWJ iShares MSCI Japan ETF 0.03% 27,158 $2.0M Reduce -41.1%
SPSB SS SPDR P St C Corp. ETF 0.03% 63,849 $1.9M No change
SHY iShares 1-3 Year Treasury Bo 0.03% 22,558 $1.9M No change
NVO Novo-Nordisk A/S-Spons ADR 0.03% 31,028 $1.8M Reduce -10.3%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.03% 4,226 $1.8M Reduce -22.3%
AMT American Tower Corp. 0.03% 8,306 $1.8M Reduce -12.5%
CRWD CrowdStrike Holdings Inc. Class A 0.03% 4,450 $1.8M Add +2372.2%
EXE Expand Energy Corp. 0.03% 18,058 $1.8M Add +147.4%
EMR Emerson Electric Co. 0.03% 15,321 $1.8M Add +7.5%
USHY iShares Broad Usd High Yield 0.03% 47,000 $1.8M No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.03% 30,771 $1.7M Add +15.3%
IGIB iShares 5-10Y Inv Grade Corp. 0.02% 32,518 $1.7M New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.02% 22,560 $1.6M New
TKO Tko Group Holdings Inc. 0.02% 11,400 $1.6M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 13,972 $1.6M Add +3.3%
WMB Williams Cos Inc. 0.02% 31,500 $1.6M New
RDDT Reddit Inc. Class A 0.02% 13,800 $1.6M New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.02% 27,000 $1.6M New
TME Tencent Music Entertainm-ADR 0.02% 91,468 $1.6M Reduce -50.4%
SBAC SBA Communications Corp. 0.02% 8,400 $1.6M New
WELL Welltower Inc. 0.02% 12,540 $1.5M New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.02% 5,710 $1.5M New
BLD Topbuild Corp. 0.02% 4,501 $1.4M No change
IGSB iShares 1-5Y Inv Grade Corp. 0.02% 27,935 $1.4M Add +1541.3%
PGR Progressive Corp. 0.02% 6,690 $1.4M New
IWM iShares Russell 2000 ETF 0.02% 6,682 $1.4M Reduce -28.0%
MWA Mueller Water Products Inc. Class A 0.02% 56,642 $1.4M Reduce -3.0%
PSA Public Storage 0.02% 5,500 $1.4M No change
UBER Uber Technologies Inc. 0.02% 14,511 $1.3M Reduce -85.2%
INDA iShares MSCI India ETF 0.02% 26,605 $1.3M Reduce -58.9%
INFY Infosys Ltd.-SP ADR 0.02% 77,518 $1.3M No change
BXSL Blackstone Secured Lending F 0.02% 41,168 $1.3M Add +5.1%
ETR Entergy Corp. 0.02% 20,160 $1.2M Reduce -14.7%
ITRI Itron Inc. 0.02% 10,644 $1.2M Reduce -28.3%
CP Canadian Pacific Kansas City 0.02% 17,850 $1.2M Add +14.7%
URTH iShares MSCI World ETF 0.02% 7,851 $1.2M Add +823.6%
BALL Ball Corp. 0.02% 19,885 $1.1M Reduce -5.2%
MFC Manulife Financial Corp. 0.02% 4,508 $1.1M No change
CCJ Cameco Corp. 0.02% 17,404 $1.1M Add +114.0%
AAXJ iShares MSCI All Country Asi 0.02% 13,354 $1.1M Add +8.0%
HUBS HubSpot Inc. 0.02% 1,952 $1.1M Reduce -72.9%
BX Blackstone Inc. 0.02% 8,244 $1.0M Add +17.7%
XLK SS Technology Select Sector 0.01% 3,887 $975K Add +22.0%
CSX CSX Corp. 0.01% 34,486 $964K Add +8.1%
GEV GE Vernova Inc. 0.01% 2,148 $963K Reduce -7.4%
HEI Heico Corp. 0.01% 3,733 $963K New
LDOS Leidos Holdings Inc. 0.01% 7,760 $960K New
AGCO Agco Corp. 0.01% 9,114 $935K Reduce -3.9%
SLV iShares Silver Trust 0.01% 28,624 $934K Reduce -33.5%
XLF SS Financial Select Sector 0.01% 17,928 $929K No change
AWK American Water Works Co. Inc. 0.01% 6,702 $928K Add +3.6%
VGK Vanguard Ftse Europe ETF 0.01% 12,561 $927K Add +29.4%
TDG Transdigm Group Inc. 0.01% 771 $914K New
PYPL PayPal Holdings Inc. 0.01% 14,254 $912K Reduce -17.0%
NEM Newmont Corp. 0.01% 18,182 $911K Reduce -4.6%
BAH Booz Allen Hamilton Holdings 0.01% 10,935 $894K New
CTVA Corteva Inc. 0.01% 13,606 $885K Add +17.8%
DRS Leonardo DRS Inc. 0.01% 24,753 $884K New
FAST Fastenal Co. 0.01% 24,292 $879K No change
LNN Lindsay Corp. 0.01% 6,133 $878K Add +3.6%
NI Nisource Inc. 0.01% 25,320 $876K Add +16.7%
FSLR First Solar Inc. 0.01% 6,466 $866K Add +134.6%
FCX Freeport-McMoran Inc. 0.01% 22,341 $846K Reduce -53.4%
WFG West Fraser Timber Co. Ltd. 0.01% 11,373 $844K Add +3.6%
FTV Fortive Corp. 0.01% 13,416 $831K Add +21.1%
LEMB iShares JP Morgan Em Local C 0.01% 20,538 $825K Add +21.5%
EEM iShares MSCI Emerging Market 0.01% 20,780 $774K Reduce -63.0%
XLE SS Energy Select Sector 0.01% 9,058 $773K No change
DAR Darling Ingredients Inc. 0.01% 20,115 $771K Reduce -5.3%
GILD Gilead Sciences Inc. 0.01% 9,101 $745K Reduce -45.9%
SOXX iShares Semiconductor ETF 0.01% 3,097 $740K Reduce -19.5%
VGT Vanguard Info Tech ETF 0.01% 1,114 $731K No change
HWM Howmet Aerospace Inc. 0.01% 4,248 $665K New
DHR Danaher Corp. 0.01% 3,694 $640K Reduce -98.8%
MU Micron Technology Inc. 0.01% 5,500 $635K Reduce -6.8%
ANF Abercrombie & Fitch Co. Class A 0.01% 7,939 $622K Add +374.3%
VRSK Verisk Analytics Inc. 0.01% 2,001 $611K Reduce -34.6%
AR Antero Resources Corp. 0.01% 16,562 $609K Add +330.6%
IVV iShares Core S&P 500 ETF 0.01% 1,197 $590K Reduce -32.2%
TRP TC Energy Corp. 0.01% 13,796 $584K Reduce -13.4%
XEL Xcel Energy Inc. 0.01% 9,838 $584K Reduce -24.9%
ARM Arm Holdings PLC-ADR 0.01% 3,515 $582K No change
HDB HDFC Bank Ltd.-ADR 0.01% 7,500 $578K No change
CPRT Copart Inc. 0.01% 11,966 $577K Reduce -50.7%
TRGP Targa Resources Corp. 0.01% 3,716 $569K Reduce -65.6%
QUAL iShares MSCI USA Quality Fac 0.01% 3,048 $553K Reduce -64.8%
KKR KKR & Co. Inc. 0.01% 4,444 $549K Reduce -80.8%
ADP Automatic Data Processing 0.01% 2,070 $545K Reduce -47.7%
SCI Service Corp. International 0.01% 6,470 $526K Reduce -57.9%
GNRC Generac Holdings Inc. 0.01% 5,892 $515K New
IXC iShares Global Energy ETF 0.01% 13,497 $514K No change
CLOA iShares Aaa Clo Act ETF-Usdi 0.01% 9,615 $499K No change
EXC Exelon Corp. 0.01% 13,344 $499K Add +10.3%
DECK Deckers Outdoor Corp. 0.01% 5,136 $495K New
HACK Amplify Cybersecurity ETF 0.01% 5,681 $484K No change
COR Cencora Inc. 0.01% 1,610 $477K Reduce -64.3%
TOST Toast Inc. Class A 0.01% 11,194 $476K Add +109.9%
MSCI MSCI Inc. 0.01% 836 $473K Reduce -71.9%
AEM Agnico Eagle Mines Ltd. 0.01% 4,374 $464K Reduce -35.9%
AXON Axon Enterprise Inc. 0.01% 717 $464K New
HLI Houlihan Lokey Inc. 0.01% 2,506 $458K Reduce -56.0%
NXT Nextpower Inc. filed as NEXTRACKER INC 0.01% 8,766 $449K Add +39.9%
XLV SS Health Care Select Sector 0.01% 3,313 $444K Reduce -13.1%
VRRM Verra Mobility Corp. 0.01% 17,497 $443K Reduce -60.0%
KEYS Keysight Technologies Inc. 0.01% 2,657 $438K Reduce -57.0%
PBR Petroleo Brasileiro-Spon ADR 0.01% 34,813 $431K No change
IT Gartner Inc. 0.01% 1,055 $427K New
MDLZ Mondelez International Inc. Class A 0.01% 7,227 $422K Add +64.3%
VOO Vanguard S&P 500 ETF 0.01% 733 $416K New
CTAS Cintas Corp. 0.01% 2,158 $413K Reduce -8.1%
SMH Vaneck Semiconductor ETF 0.01% 1,480 $412K No change
GIB Cgi Inc. 0.01% 3,926 $408K Reduce -4.7%
TTC Toro Co. 0.01% 5,622 $399K Reduce -57.0%
CNM Core & Main Inc. Class A 0.01% 6,680 $396K Reduce -64.9%
POOL Pool Corp. 0.01% 1,318 $388K Reduce -52.1%
IGV iShares Expanded Tech-Softwa 0.01% 3,711 $386K Reduce -12.7%
TSCO Tractor Supply Company 0.01% 7,253 $376K Reduce -68.7%
KLAC KLA Corp. 0.01% 415 $375K Add +123.1%
PCTY Paylocity Holding Corp. 0.01% 2,044 $362K Reduce -52.2%
EWZ iShares MSCI Brazil ETF 0.01% 13,590 $355K Reduce -20.1%
WPM Wheaton Precious Metals Corp. 0.01% 3,716 $352K Reduce -28.4%
DPZ Domino's Pizza Inc. 0.01% 796 $351K No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.01% 1,956 $347K Reduce -78.0%
BR Broadridge Financial Solutio 0.01% 1,437 $344K Reduce -62.9%
EWA iShares MSCI Australia ETF 0.01% 13,120 $342K No change
MTD Mettler-Toledo International 0.00% 282 $337K Reduce -49.9%
TEVA Teva Pharmaceutical-SP ADR 0.00% 20,000 $335K No change
MANH Manhattan Associates Inc. 0.00% 1,650 $320K Reduce -29.2%
CWEN Clearway Energy Inc. Class C 0.00% 11,490 $319K New
ODFL Old Dominion Freight Line 0.00% 1,980 $319K New
BF.B Brown-Forman Corp. Class B 0.00% 12,085 $317K Add +2959.5%
PTC PTC Inc. 0.00% 1,860 $315K Add +93.8%
EVRG Evergy Inc. 0.00% 5,138 $308K New
IDXX Idexx Laboratories Inc. 0.00% 578 $305K Reduce -70.4%
PCG P G & E Corp. 0.00% 24,477 $301K Reduce -68.4%
VITL Vital Farms Inc. 0.00% 7,979 $298K Add +115.1%
J Jacobs Solutions Inc. 0.00% 2,598 $295K Reduce -39.3%
AEP American Electric Power 0.00% 3,162 $283K Reduce -69.1%
IBN Icici Bank Ltd.-Spon ADR 0.00% 8,000 $271K Reduce -33.3%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.00% 2,384 $271K Reduce -65.4%
IYG iShares U.S. Financial Servi 0.00% 3,000 $254K No change
LI Li Auto Inc. - ADR 0.00% 10,284 $250K Reduce -11.8%
ALL Allstate Corp. 0.00% 1,500 $249K No change
AES AES Corp. 0.00% 25,872 $242K Reduce -53.1%
TECK Teck Resources Ltd.-CLS B 0.00% 6,402 $230K Add +4.3%
BMY Bristol-Myers Squibb Co. 0.00% 5,643 $222K No change
ZTS Zoetis Inc. 0.00% 1,450 $216K Reduce -65.0%
CMCSA Comcast Corp. Class A 0.00% 6,057 $214K Reduce -43.6%
COP Conocophillips 0.00% 2,792 $212K Reduce -66.8%
LULU Lululemon Athletica Inc. 0.00% 895 $207K Reduce -67.7%
MGM MGM Resorts International 0.00% 5,895 $203K Reduce -0.7%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.00% 6,766 $202K Add +88.2%
PICK iShares MSCI Global Metals & 0.00% 5,347 $202K No change
KEY Keycorp 0.00% 13,500 $198K No change
RF Regions Financial Corp. 0.00% 9,900 $197K No change
STKL Sunopta Inc. 0.00% 32,679 $194K Add +3.6%
EA Electronic Arts Inc. 0.00% 1,228 $194K Reduce -23.3%
VWO Vanguard Ftse Emerging Marke 0.00% 4,292 $187K No change
JBBB Janus Henderson B-BBB Clo Et 0.00% 4,261 $175K No change
VAW Vanguard Materials ETF 0.00% 1,000 $166K No change
MRNA Moderna Inc. 0.00% 6,497 $159K Reduce -70.5%
DXCM Dexcom Inc. 0.00% 2,380 $158K Reduce -60.4%
SMR Nuscale Power Corp. 0.00% 4,612 $154K Add +9.1%
MCHI iShares MSCI China ETF 0.00% 3,579 $150K Add +32.1%
IXJ iShares Global Healthcare Et 0.00% 1,750 $150K No change
SHEL Shell PLC-ADR 0.00% 2,187 $147K Reduce -75.4%
ITUB Itau Unibanco H-Spon PRF ADR 0.00% 22,000 $146K No change
IBB iShares Biotechnology ETF 0.00% 1,150 $142K Reduce -47.7%
VWOB Vanguard Emerg MKTS Gov BND 0.00% 2,535 $141K No change
TLT iShares 20+ Year Treasury BD 0.00% 2,000 $140K Reduce -52.7%
ARRY Array Technologies Inc. 0.00% 23,754 $135K Reduce -19.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.00% 2,275 $133K No change
GDX Vaneck Gold Miners ETF 0.00% 2,174 $110K Reduce -7.9%
EQNR Equinor ASA-Spon ADR 0.00% 5,100 $109K No change
RIO Rio Tinto PLC-Spon ADR 0.00% 2,150 $108K Reduce -11.5%
BN Brookfield Corp. 0.00% 2,040 $107K Add +96.2%
CHWY Chewy Inc. Class A 0.00% 2,500 $107K No change
VALE Vale SA-SP ADR 0.00% 10,706 $104K No change
APO Apollo Global Management Inc. 0.00% 895 $102K Reduce -47.7%
CQQQ Invesco China Technology ETF 0.00% 2,600 $98K Reduce -25.7%
LYFT LYFT Inc. Class A 0.00% 6,000 $94K Reduce -25.0%
SLF Sun Life Financial Inc. 0.00% 1,669 $94K No change
BP BP PLC-Spons ADR 0.00% 3,000 $91K No change
IEI iShares 3-7 Year Treasury Bo 0.00% 716 $85K Reduce -84.4%
GM General Motors Co. 0.00% 1,700 $84K Reduce -60.9%
BXMT Blackstone Mortgage Tru Class A 0.00% 5,000 $84K New
NTR Nutrien Ltd. 0.00% 1,583 $79K No change
IEF iShares 7-10 Year Treasury B 0.00% 1,000 $76K No change
LMND Lemonade Inc. 0.00% 1,745 $73K No change
TD Toronto-Dominion Bank 0.00% 1,133 $70K No change
CHRD Chord Energy Corp. 0.00% 672 $66K No change
ZM Zoom Communications Inc. 0.00% 1,124 $64K New
VRTX Vertex Pharmaceuticals Inc. 0.00% 139 $61K No change
EWU iShares MSCI United Kingdom 0.00% 1,917 $61K No change
SRE Sempra 0.00% 761 $57K Reduce -94.3%
SONY Sony Group Corp. - SP ADR 0.00% 2,500 $56K No change
XLP SS Consumer Staples Sel Sect 0.00% 778 $50K No change
SNOW Snowflake Inc. 0.00% 255 $48K No change
AXP American Express Co. 0.00% 150 $48K Reduce -90.6%
ARKG ARK Genomic Revolution ETF 0.00% 1,910 $46K No change
NKE Nike Inc. Class B 0.00% 750 $46K Add +158.6%
GLW Corning Inc. 0.00% 837 $43K No change
ARTY iShares Future AI & Tech ETF 0.00% 1,243 $43K No change
NTES Netease Inc.-ADR 0.00% 315 $42K New
LHX L3HARRIS Technologies Inc. 0.00% 158 $39K No change
UNH Unitedhealth Group Inc. 0.00% 123 $38K Reduce -99.8%
IHE iShares US Pharmaceuticals E 0.00% 660 $37K No change
BBD Banco Bradesco-ADR 0.00% 15,000 $36K New
COMT iShares Gsci Commodity Dynam 0.00% 1,530 $34K New
NVS Novartis AG-Sponsored ADR 0.00% 281 $34K No change
ALB Albemarle Corp. 0.00% 500 $32K No change
COIN Coinbase Global Inc. Class A 0.00% 105 $32K New
FLNC Fluence Energy Inc. 0.00% 5,638 $31K No change
QQQM Invesco Nasdaq 100 ETF 0.00% 131 $30K No change
BDX Becton Dickinson and Co. 0.00% 230 $29K Reduce -24.6%
PSQ Proshares Short QQQ 0.00% 1,000 $27K New
CL Colgate-Palmolive Co. 0.00% 350 $25K No change
XLY SS Consumer Disc Select Sect 0.00% 130 $24K No change
EOG EOG Resources Inc. 0.00% 192 $23K No change
SIRI Sirius XM Holdings Inc. 0.00% 1,190 $23K No change
NUE Nucor Corp. 0.00% 167 $22K Reduce -86.9%
GOVT iShares US Treasury Bond ETF 0.00% 952 $22K Reduce -15.4%
UL Unilever PLC 0.00% 341 $21K No change
DOG Proshares Short DOW30 0.00% 1,000 $20K New
DXJ Wisdomtree Japan Hedged Eq 0.00% 240 $20K Reduce -92.9%
MLP Maui Land & Pineapple Co. filed as MAUI LD & PINEAPPLE INC 0.00% 950 $17K No change
LOW Lowe's Cos Inc. 0.00% 73 $16K No change
DLB Dolby Laboratories Inc. Class A 0.00% 211 $16K No change
ASX Ase Technology Holding -ADR 0.00% 1,446 $15K No change
CVS CVS Health Corp. 0.00% 213 $15K No change
JD Jd.com Inc.-ADR 0.00% 500 $14K No change
QS Quantumscape Corp. 0.00% 2,000 $13K No change
CPNG Coupang Inc. 0.00% 500 $13K No change
DEO Diageo PLC-Sponsored ADR 0.00% 151 $13K Reduce -89.0%
TTE Totalenergies SE -Spon ADR 0.00% 212 $13K No change
TM Toyota Motor Corp. -Spon ADR 0.00% 74 $13K No change
TUSK Mammoth Energy Services Inc. 0.00% 4,230 $12K No change
CWB SS SPDR BB Conv Sec ETF 0.00% 200 $12K Reduce -95.3%
SPR Spirit Aerosystems Hold Class A 0.00% 300 $12K No change
VEON Veon Ltd. 0.00% 319 $11K No change
IONS Ionis Pharmaceuticals Inc. 0.00% 265 $11K No change
BIIB Biogen Inc. 0.00% 82 $10K No change
MMM 3M Co. 0.00% 68 $10K No change
ABNB Airbnb Inc. Class A 0.00% 82 $9K No change
SNY Sanofi-ADR 0.00% 190 $9K No change
IMVP Invesco India Exchange-Trade 0.00% 265 $7K No change
GSK GSK PLC-Spon ADR 0.00% 183 $7K No change
UPS United Parcel Service Class B 0.00% 68 $7K No change
INTC Intel Corp. 0.00% 259 $6K No change
AMTM Amentum Holdings Inc. 0.00% 266 $6K New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.00% 85 $6K No change
INMB Inmune Bio Inc. 0.00% 1,000 $5K New
VOD Vodafone Group PLC-SP ADR 0.00% 581 $4K No change
LBRDK Liberty Broadband-C 0.00% 37 $4K No change
DOW Dow Inc. 0.00% 122 $3K No change
HAL Halliburton Co. 0.00% 210 $3K Reduce -95.4%
HLN Haleon PLC-ADR 0.00% 229 $2K No change
XCHYX Calamos Convert & High Inc. 0.00% 248 $2K Reduce -99.3%
SPCE Virgin Galactic Holdings Inc. 0.00% 616 $2K No change
SOLV Solventum Corp. 0.00% 17 $1K No change
APLE Apple Hospitality REIT Inc. 0.00% 100 $1K No change
CRNC Cerence Inc. 0.00% 74 $699 No change
CARM Carisma Therapeutics Inc. 0.00% 535 $190 No change
COKE Coca-Cola Consolidated Inc. 0.00% 700 $111 Reduce -90.0%
LEVGQ The Lion Electric Co. filed as THE LION ELECTRIC COMPANY 0.00% 2,500 $99 No change
OGN Organon & Co. 0.00% 11 $79 Reduce -77.1%
ONCT Oncternal Therapeutics Inc. 0.00% 175 $74 New
TASEKO MINES LTD 0.00% 26 $64 No change
CODA Coda Octopus Group Inc. 0.00% 6 $39 Add +200.0%
HRL Hormel Foods Corp. 0.00% 1,000 $24 No change
ALTO Alto Ingredients Inc. 0.00% 5 $5 No change
TENX Tenax Therapeutics Inc. 0.00% 1 $5 No change
DSS DSS Inc. 0.00% 1 $1 New
AUMN Golden Minerals Co. 0.00% 7 $1 No change
GURE Gulf Resources Inc. 0.00% 1 $1 New
FURY Fury Gold Mines Ltd. 0.00% 1 $0 New
TTOO T2 Biosystems Inc. 0.00% 1 $0 No change

Options reported separately and not counted above: REGN puts ($9K).

Other holdings (41): bonds, preferreds, convertibles and warrants · $82.3M (not counted above)
SecurityClassShares / PrincipalValueChange
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) NOTE 3.125% 1/1 · principal 5,381,000$7.0MAdd +66.3%
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal 4,055,000$5.3MAdd +9.4%
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal 4,900,000$5.0MNew
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 4,520,000$4.4MNo change
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal 2,840,000$4.3MReduce -25.5%
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal 2,915,000$3.8MAdd +148.1%
SOUTHERN CO (SO 3.875 12/15/25) NOTE 3.875%12/1 · principal 4,115,000$3.8MNo change
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal 3,155,000$3.7MAdd +17.9%
MIDDLEBY CORP (MIDD 1 09/01/25) NOTE 1.000% 9/0 · principal 3,337,000$3.2MReduce -14.9%
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) NOTE 2.625%12/1 · principal 2,670,000$2.9MReduce -10.3%
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal 2,740,000$2.8MAdd +24.3%
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal 2,550,000$2.6MAdd +410.0%
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 3,025,000$2.6MNo change
INSULET CORPORATION (PODD 0.375 09/01/26) NOTE 0.375% 9/0 · principal 2,080,000$2.5MReduce -39.5%
BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) NOTE 1.250% 5/1 · principal 2,945,000$2.4MNo change
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) NOTE 1.000% 9/1 · principal 2,130,000$2.3MNo change
SHOPIFY INC (SHOPCN 0.125 11/01/25) NOTE 0.125%11/0 · principal 2,282,000$2.0MReduce -59.8%
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) NOTE 0.125% 1/1 · principal 2,245,000$1.9MAdd +25.1%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal 1,915,000$1.8MReduce -41.1%
ETSY INC (ETSY 0.125 10/01/26) NOTE 0.125%10/0 · principal 2,075,000$1.7MNo change
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal 1,885,000$1.7MNo change
LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) NOTE 0.500% 6/1 · principal 1,817,000$1.6MNo change
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 1,860,000$1.6MAdd +27.4%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 1,480$1.5MNo change
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) NOTE 1.750% 6/1 · principal 1,425,000$1.3MNo change
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal 1,125,000$1.2MReduce -75.0%
SEA LTD (SEALTD 2.375 12/01/25) NOTE 2.375%12/0 · principal 745,000$1.1MAdd +29.6%
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal 1,145,000$1.0MNo change
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) NOTE 12/1 · principal 850,000$911KNo change
ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal 991,000$849KNo change
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 955,000$758KReduce -84.0%
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) NOTE 2.500% 3/1 · principal 525,000$581KNo change
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) NOTE 2.250% 4/0 · principal 520,000$556KNo change
CYTOKINETICS INC (CYTK 3.5 07/01/27) NOTE 3.500% 7/0 · principal 480,000$446KNo change
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal 180,000$263KReduce -30.2%
NCL CORPORATION LTD (NCLH 1.125 02/15/27) NOTE 1.125% 2/1 · principal 285,000$237KReduce -90.9%
ITRON INC (ITRI 0 03/15/26) NOTE 3/1 · principal 164,000$186KReduce -27.4%
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal 181,000$179KNew
TELADOC HEALTH INC (TDOC 1.25 06/01/27) NOTE 1.250% 6/0 · principal 128,000$118KReduce -68.1%
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) NOTE 3.250%12/1 · principal 118,000$110KNo change
H WORLD GROUP LTD (HTHT 3 05/01/26) NOTE 3.000% 5/0 · principal 60,000$55KNo change

Total filed on the 13F, all lines: $6.9B.

Portfolio Sells Q1 2025 → Q2 2025
V Visa Inc. Class A Reduce -17.7% 2.68% −1.51
AMZN Amazon.com Inc. Reduce -8.7% 3.76% −1.35
DHR Danaher Corp. Reduce -98.8% 0.01% −1.24
TMO Thermo Fisher Scientific Inc. Reduce -84.7% 0.11% −1.22
MSFT Microsoft Corp. Reduce -6.6% 21.18% −1.20
SPGI S&P Global Inc. Reduce -15.5% 1.81% −0.94
CRM Salesforce Inc. Reduce -41.0% 0.66% −0.91
GOOG Alphabet Inc. Class C Reduce -7.9% 2.32% −0.89
AAPL Apple Inc. Reduce -5.2% 2.03% −0.80
CVX Chevron Corp. Reduce -32.0% 0.50% −0.67
ROP Roper Technologies Inc. Reduce -10.4% 0.92% −0.56
ECL Ecolab Inc. Reduce -12.7% 1.05% −0.53
MCD McDonald's Corp. Reduce -11.9% 0.75% −0.52
UNH Unitedhealth Group Inc. Reduce -99.8% 0.00% −0.51
ADBE Adobe Inc. Reduce -14.3% 0.81% −0.44
NDAQ Nasdaq Inc. Reduce -5.1% 1.71% −0.42
BRK.B Berkshire Hathaway Inc. Class B Reduce -13.4% 0.62% −0.41
RSG Republic Services Inc. Reduce -35.9% 0.38% −0.39
AMAT Applied Materials Inc. Reduce -36.0% 0.64% −0.35
PG The Procter & Gamble Co. Reduce -21.8% 0.59% −0.31
MCK McKesson Corp. Reduce -60.5% 0.12% −0.26
MSI Motorola Solutions Inc. Reduce -14.3% 0.37% −0.24
MA Mastercard Inc. Class A Reduce -2.3% 1.14% −0.23
HD Home Depot Inc. Reduce -12.8% 0.36% −0.21
WMT Walmart Inc. Reduce -56.1% 0.25% −0.18
UNP Union Pacific Corp. Reduce -42.7% 0.23% −0.16
ABT Abbott Laboratories Reduce -12.1% 0.49% −0.15
FISV Fiserv Inc. Reduce -20.2% 0.10% −0.13
INTU Intuit Inc. Reduce -3.6% 1.75% −0.13
BSX Boston Scientific Corp. Reduce -6.2% 0.34% −0.12
UBER Uber Technologies Inc. Reduce -85.2% 0.02% −0.12
XOM Exxon Mobil Corp. Reduce -53.0% 0.04% −0.10
DUK Duke Energy Corp. Reduce -60.7% 0.03% −0.10
CSCO Cisco Systems Inc. Reduce -3.7% 0.17% −0.09
JNPR Juniper Networks Inc. Reduce -40.6% 0.07% −0.09
ANSS Ansys Inc. Sold out 0.00% −0.08
CAT Caterpillar Inc. Reduce -31.2% 0.09% −0.08
HUBS HubSpot Inc. Reduce -72.9% 0.02% −0.06
ACWI iShares MSCI Acwi ETF Reduce -69.7% 0.03% −0.06
WDAY Workday Inc. Class A Reduce -2.9% 0.12% −0.06
IJH iShares Core S&P Midcap ETF Sold out 0.00% −0.05
DT Dynatrace Inc. Reduce -26.2% 0.07% −0.05
PFE Pfizer Inc. Reduce -30.1% 0.04% −0.05
INDA iShares MSCI India ETF Reduce -58.9% 0.02% −0.05
KKR KKR & Co. Inc. Reduce -80.8% 0.01% −0.04
COHR Coherent Corp. Sold out 0.00% −0.04
FSK FS KKR Capital Corp. Sold out 0.00% −0.04
ROK Rockwell Automation Inc. Sold out 0.00% −0.03
EEM iShares MSCI Emerging Market Reduce -63.0% 0.01% −0.03
EWJ iShares MSCI Japan ETF Reduce -41.1% 0.03% −0.03

Portfolio Buys Q1 2025 → Q2 2025
OBDC Blue Owl Capital Corp. Add +5.1% 2.11% +2.09
MAIN Main Street Capital Corp. Add +5.1% 2.06% +2.04
HTGC Hercules Capital Inc. Add +5.1% 1.38% +1.37
GBDC Golub Capital BDC Inc. Add +5.1% 1.29% +1.27
TSLX Sixth Street Specialty Lendi Add +5.1% 0.96% +0.96
ORCL Oracle Corp. Add +4.4% 1.79% +0.88
ABBV Abbvie Inc. Add +44717.9% 0.88% +0.87
AZO AutoZone Inc. Add +487.0% 1.00% +0.76
GSBD Goldman Sachs BDC Inc. Add +5.1% 0.76% +0.75
CSWC Capital Southwest Corp. Add +5.1% 0.66% +0.66
NMFC New Mountain Finance Corp. Add +5.1% 0.64% +0.64
GAIN Gladstone Investment Corp. Add +5.1% 0.59% +0.59
NVDA Nvidia Corp. Add +5.7% 3.18% +0.52
NFLX Netflix Inc. Add +74.6% 0.96% +0.48
EQT Eqt Corp. Add +12713.0% 0.40% +0.39
TJX TJX Companies Inc. New 0.39% +0.39
RTX RTX Corp. Add +1065.4% 0.41% +0.36
TRIN Trinity Capital Inc. Add +5.1% 0.36% +0.36
MRK Merck & Co. Inc. Add +322.8% 0.45% +0.31
VRT Vertiv Holdings Co. Class A Add +452.9% 0.32% +0.27
GE General Electric Add +208.2% 0.27% +0.21
COST Costco Wholesale Corp. Add +73.7% 0.36% +0.18
BABA Alibaba Group Holding-SP ADR Add +355.2% 0.26% +0.17
PWR Quanta Services Inc. Add +7.7% 0.94% +0.17
VST Vistra Corp. Add +677.2% 0.19% +0.17
AMD Advanced Micro Devices Add +68.8% 0.38% +0.15
KGC Kinross Gold Corp. Add +344.4% 0.20% +0.15
CEG Constellation Energy Add +1026.2% 0.16% +0.14
CNI Canadian Natl Railway Co. Add +793.4% 0.14% +0.13
CRS Carpenter Technology New 0.13% +0.13
URI United Rentals Inc. Add +45.7% 0.29% +0.12
META Meta Platforms Inc. Class A Add +0.7% 2.25% +0.12
HOOD Robinhood Markets Inc. Class A New 0.11% +0.11
PH Parker Hannifin Corp. Add +16.9% 0.78% +0.10
MRVL Marvell Technology Inc. Add +129.2% 0.20% +0.10
ADSK Autodesk Inc. Add +65.2% 0.19% +0.10
ISRG Intuitive Surgical Inc. Add +68.1% 0.22% +0.09
APP AppLovin Corp. Class A New 0.08% +0.08
AMGN Amgen Inc. Add +94.4% 0.13% +0.07
CACI Caci International Inc. Class A New 0.07% +0.07
CMI Cummins Inc. Add +34.7% 0.16% +0.06
RBRK Rubrik Inc. Class A New 0.06% +0.06
TSM Taiwan Semiconductor-SP ADR Add +5.5% 2.02% +0.06
VSEC Vse Corp. New 0.06% +0.06
MDB Mongodb Inc. Add +119.8% 0.12% +0.05
SHOP Shopify Inc. Class A New 0.05% +0.05
APH Amphenol Corp. Class A New 0.05% +0.05
CME Cme Group Inc. New 0.05% +0.05
ELF Elf Beauty Inc. New 0.04% +0.04
T AT&T Inc. Add +990.0% 0.05% +0.04

Options Activity Q1 2025 → Q2 2025
REGN Regeneron Pharmaceuticals put New 5 $9K

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
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal Sold out 10,908,000 $9.7Mbefore exit
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) NOTE 3.125% 1/1 · principal Add +66.3% 5,381,000 $7.0M
BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) NOTE 0.750% 5/0 · principal Sold out 2,812,000 $6.3Mbefore exit
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal Add +9.4% 4,055,000 $5.3M
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal New 4,900,000 $5.0M
PALO ALTO NETWORKS (PANW 0.375 06/01/25) NOTE 0.375% 6/0 · principal Sold out 1,405,000 $4.6Mbefore exit
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal Reduce -25.5% 2,840,000 $4.3M
DATADOG INC (DDOG 0.125 06/15/25) NOTE 0.125% 6/1 · principal Sold out 3,579,000 $3.9Mbefore exit
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal Add +148.1% 2,915,000 $3.8M
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal Add +17.9% 3,155,000 $3.7M
MIDDLEBY CORP (MIDD 1 09/01/25) NOTE 1.000% 9/0 · principal Reduce -14.9% 3,337,000 $3.2M
ZILLOW GROUP INC (Z 2.75 05/15/25) NOTE 2.750% 5/1 · principal Sold out 3,560,000 $3.2Mbefore exit
WORLD KINECT GROUP (WKC 3.25 07/01/28) NOTE 3.250% 7/0 · principal Sold out 3,025,000 $3.1Mbefore exit
NCL CORPORATION LTD (NCLH 5.375 08/01/25) NOTE 5.375% 8/0 · principal Sold out 2,770,000 $3.0Mbefore exit
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) NOTE 2.625%12/1 · principal Reduce -10.3% 2,670,000 $2.9M
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal Add +24.3% 2,740,000 $2.8M
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal Add +410.0% 2,550,000 $2.6M
ZSCALER INC. (ZS 0.125 07/01/25) NOTE 0.125% 7/0 · principal Sold out 2,005,000 $2.6Mbefore exit
INSULET CORPORATION (PODD 0.375 09/01/26) NOTE 0.375% 9/0 · principal Reduce -39.5% 2,080,000 $2.5M
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) NOTE 1.250% 9/1 · principal Sold out 2,555,000 $2.3Mbefore exit
SHOPIFY INC (SHOPCN 0.125 11/01/25) NOTE 0.125%11/0 · principal Reduce -59.8% 2,282,000 $2.0M
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) NOTE 0.125% 1/1 · principal Add +25.1% 2,245,000 $1.9M
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal Reduce -41.1% 1,915,000 $1.8M
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal Add +27.4% 1,860,000 $1.6M
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal Reduce -75.0% 1,125,000 $1.2M
SEA LTD (SEALTD 2.375 12/01/25) NOTE 2.375%12/0 · principal Add +29.6% 745,000 $1.1M
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal Reduce -84.0% 955,000 $758K
EXPEDIA GROUP INC (EXPE 0 02/15/26) NOTE 2/1 · principal Sold out 655,000 $595Kbefore exit
NIO INC (NIO 4.625 10/15/30) NOTE 4.625%10/1 · principal Sold out 750,000 $511Kbefore exit
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) NOTE 1.750% 8/1 · principal Sold out 400,000 $334Kbefore exit
WAYFAIR INC (W 1 08/15/26) NOTE 1.000% 8/1 · principal Sold out 330,000 $311Kbefore exit
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal Reduce -30.2% 180,000 $263K
NCL CORPORATION LTD (NCLH 1.125 02/15/27) NOTE 1.125% 2/1 · principal Reduce -90.9% 285,000 $237K
ITRON INC (ITRI 0 03/15/26) NOTE 3/1 · principal Reduce -27.4% 164,000 $186K
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal New 181,000 $179K
GUARDANT HEALTH INC (GH 0 11/15/27) NOTE 11/1 · principal Sold out 161,000 $142Kbefore exit
TELADOC HEALTH INC (TDOC 1.25 06/01/27) NOTE 1.250% 6/0 · principal Reduce -68.1% 128,000 $118K
SABRE GLBL INC (SABHLD 4 04/15/25) NOTE 4.000% 4/1 · principal Sold out 69,000 $69Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 472$9.1BMSFT, INDA, AMAT, GOOGL, NVDA
Q1 2026 462$7.1BMSFT, NVDA, GOOGL, AAPL, AMZN
Q4 2025 473$8.4BMSFT, NVDA, AAPL, AMZN, GOOGL
Q3 2025 451$7.0BMSFT, AMZN, NVDA, GOOGL, JPM
Q2 2025 459$6.8BMSFT, AMZN, NVDA, V, AVGO
Q1 2025 456$5.1BMSFT, AMZN, V, GOOG, AAPL
Q4 2024Amended 490$5.6BMSFT, AMZN, GOOG, V, AAPL