Universal- Beteiligungs- und Servicegesellschaft mbH
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Universal- Beteiligungs- und Servicegesellschaft mbH reported 1,895 stock positions worth $58.9 billion. Its top holding was Nvidia (NVDA) at 7.1% of the portfolio, followed by Microsoft (MSFT, 6.3%) and Apple (AAPL, 4.8%). Compared with Q2 2025, it opened 159 new positions, sold out of 79, added to 1,045 and reduced 609. The biggest buy was Apple (AAPL, shares +2%) and the biggest sale Microsoft (MSFT, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- FRANKFURT AM MAIN, 2M
- CIK
- 0002057170
- Portfolio Value
- $58.9B (Q3 2025)
- SEC Filing
- 0002057170-25-000015 ↗ filed Oct 30, 2025
Holdings Value
Holdings 1,895 stocks · $58.9B
| NVDA Nvidia Corp. | 7.05% | 22,249,722 | $4.2B | Add +0.4% |
| MSFT Microsoft Corp. | 6.26% | 7,108,239 | $3.7B | Reduce -1.7% |
| AAPL Apple Inc. | 4.82% | 11,148,058 | $2.8B | Add +2.2% |
| AMZN Amazon.com Inc. | 3.49% | 9,359,723 | $2.1B | Add +1.3% |
| GOOGL Alphabet Inc. Class A | 3.06% | 7,418,115 | $1.8B | Reduce -5.7% |
| META Meta Platforms Inc. Class A | 2.52% | 2,016,341 | $1.5B | Reduce -2.5% |
| AVGO Broadcom Inc. | 2.09% | 3,734,322 | $1.2B | Reduce -2.1% |
| GOOG Alphabet Inc. Class C | 1.70% | 4,106,491 | $1.0B | Reduce -1.8% |
| TSLA Tesla Inc. | 1.33% | 1,761,248 | $783.3M | Reduce -4.8% |
| V Visa Inc. Class A | 1.27% | 2,192,973 | $748.6M | Reduce -1.8% |
| JPM JPMorgan Chase & Co. | 1.09% | 2,035,213 | $642.0M | Reduce -3.3% |
| MA Mastercard Inc. Class A | 1.04% | 1,078,406 | $613.4M | Add +3.8% |
| NFLX Netflix Inc. | 0.95% | 465,525 | $558.1M | Add +4.4% |
| LLY Eli Lilly & Co. | 0.82% | 633,011 | $483.0M | Add +9.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.77% | 902,699 | $453.8M | Add +2.1% |
| JNJ Johnson & Johnson | 0.73% | 2,322,731 | $430.7M | Reduce -5.6% |
| LIN Linde PLC | 0.71% | 884,865 | $420.3M | Add +3.8% |
| ABBV Abbvie Inc. | 0.60% | 1,529,840 | $354.2M | Reduce -0.9% |
| ORCL Oracle Corp. | 0.57% | 1,198,835 | $337.2M | Reduce -10.8% |
| CRM Salesforce Inc. | 0.55% | 1,353,670 | $320.8M | Add +8.8% |
| HD Home Depot Inc. | 0.54% | 777,597 | $315.1M | Add +8.5% |
| MELI MercadoLibre Inc. | 0.53% | 134,429 | $314.2M | Add +2.7% |
| BKNG Booking Holdings Inc. | 0.51% | 55,636 | $300.4M | Reduce -5.0% |
| COST Costco Wholesale Corp. | 0.51% | 321,597 | $297.7M | Reduce -1.6% |
| INTU Intuit Inc. | 0.50% | 433,436 | $296.0M | Reduce -0.0% |
| CSCO Cisco Systems Inc. | 0.50% | 4,281,094 | $292.9M | Add +2.5% |
| WMT Walmart Inc. | 0.49% | 2,791,996 | $287.7M | Add +0.6% |
| PG The Procter & Gamble Co. | 0.48% | 1,847,162 | $283.8M | Reduce -0.5% |
| ADBE Adobe Inc. | 0.47% | 785,827 | $277.2M | Reduce -3.9% |
| UBER Uber Technologies Inc. | 0.47% | 2,817,018 | $276.0M | Add +9.4% |
| MCD McDonald's Corp. | 0.43% | 841,110 | $255.6M | Add +12.3% |
| PLTR Palantir Technologies Inc. Class A | 0.43% | 1,393,608 | $254.2M | Add +3.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.43% | 4,906,148 | $253.1M | Reduce -1.8% |
| NOW ServiceNow Inc. | 0.43% | 273,855 | $252.0M | Add +17.3% |
| AXP American Express Co. | 0.41% | 719,007 | $238.8M | Add +0.8% |
| AMAT Applied Materials Inc. | 0.40% | 1,145,914 | $234.6M | Reduce -0.3% |
| SPOT Spotify Technology SA | 0.40% | 335,653 | $234.3M | Add +14.9% |
| WFC Wells Fargo & Co. | 0.39% | 2,753,484 | $230.8M | Reduce -5.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.39% | 2,006,122 | $229.7M | Add +11.0% |
| SPGI S&P Global Inc. | 0.39% | 469,749 | $228.6M | Reduce -5.2% |
| KO The Coca-Cola Co. | 0.39% | 3,443,830 | $228.4M | Add +9.2% |
| AMD Advanced Micro Devices | 0.39% | 1,409,806 | $228.1M | Reduce -0.7% |
| QCOM Qualcomm Inc. | 0.38% | 1,341,997 | $223.3M | Reduce -4.6% |
| UNH Unitedhealth Group Inc. | 0.37% | 625,215 | $215.9M | Add +2.1% |
| LRCX Lam Research Corp. | 0.36% | 1,585,703 | $212.3M | Reduce -17.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 751,339 | $212.0M | Add +5.4% |
| APP AppLovin Corp. Class A | 0.36% | 293,112 | $210.6M | Add +7.9% |
| WELL Welltower Inc. | 0.36% | 1,181,037 | $210.4M | Reduce -16.4% |
| BLK BlackRock Inc. | 0.35% | 177,891 | $207.4M | Reduce -4.1% |
| MRK Merck & Co. Inc. | 0.34% | 2,405,583 | $201.9M | Add +3.4% |
| ABT Abbott Laboratories | 0.34% | 1,491,733 | $199.8M | Add +6.2% |
| PANW Palo Alto Networks Inc. | 0.34% | 976,558 | $198.8M | Reduce -4.8% |
| PEP Pepsico Inc. | 0.34% | 1,415,856 | $198.8M | Reduce -0.5% |
| XOM Exxon Mobil Corp. | 0.34% | 1,756,492 | $198.0M | Reduce -14.9% |
| GE General Electric filed as GE AEROSPACE | 0.32% | 620,463 | $186.6M | Reduce -0.6% |
| TMO Thermo Fisher Scientific Inc. | 0.32% | 384,504 | $186.5M | Reduce -3.0% |
| EQIX Equinix Inc. | 0.32% | 236,992 | $185.6M | Add +8.5% |
| LOW Lowe's Cos Inc. | 0.31% | 725,358 | $182.3M | Add +11.8% |
| MS Morgan Stanley | 0.30% | 1,112,683 | $176.9M | Reduce -6.2% |
| DHR Danaher Corp. | 0.30% | 878,738 | $174.2M | Reduce -4.0% |
| ACN Accenture PLC Class A | 0.29% | 694,520 | $171.3M | Add +5.0% |
| PLD Prologis Inc. | 0.29% | 1,493,929 | $171.1M | Reduce -0.4% |
| TT Trane Technologies PLC | 0.29% | 398,999 | $168.4M | Add +14.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 1,132,477 | $163.7M | Add +3.2% |
| MU Micron Technology Inc. | 0.28% | 971,728 | $162.6M | Reduce -11.3% |
| ISRG Intuitive Surgical Inc. | 0.27% | 360,960 | $161.4M | Add +1.6% |
| ADSK Autodesk Inc. | 0.27% | 507,541 | $161.2M | Reduce -3.7% |
| SYK Stryker Corp. | 0.27% | 429,220 | $158.7M | Add +1.5% |
| APH Amphenol Corp. Class A | 0.27% | 1,280,316 | $158.4M | Reduce -2.5% |
| NEE Nextera Energy Inc. | 0.27% | 2,089,118 | $157.7M | Add +7.1% |
| PGR Progressive Corp. | 0.27% | 635,425 | $156.9M | Add +27.9% |
| GS Goldman Sachs Group Inc. | 0.27% | 195,887 | $156.0M | Reduce -2.8% |
| DLR Digital Realty Trust Inc. | 0.26% | 900,465 | $155.7M | Reduce -16.9% |
| TXN Texas Instruments Inc. | 0.26% | 831,597 | $152.8M | Add +5.8% |
| ANET Arista Networks Inc. | 0.26% | 1,044,793 | $152.2M | Reduce -6.7% |
| ADP Automatic Data Processing | 0.26% | 517,105 | $151.8M | Reduce -3.9% |
| MDT Medtronic PLC | 0.25% | 1,569,975 | $149.5M | Reduce -3.2% |
| VZ Verizon Communications Inc. | 0.25% | 3,350,502 | $147.3M | Add +3.3% |
| NEM Newmont Corp. | 0.24% | 1,705,941 | $143.8M | Add +2.5% |
| ETN Eaton Corp. PLC | 0.24% | 382,434 | $143.1M | Reduce -14.9% |
| DE Deere & Co. | 0.24% | 310,691 | $142.1M | Add +0.5% |
| T AT&T Inc. | 0.23% | 4,834,899 | $136.5M | Reduce -6.0% |
| ADI Analog Devices Inc. | 0.23% | 553,266 | $135.9M | Add +4.7% |
| PM Philip Morris International | 0.23% | 837,331 | $135.8M | Reduce -2.4% |
| MNST Monster Beverage Corp. | 0.23% | 2,005,725 | $135.0M | Add +0.1% |
| SHW The Sherwin-Williams Co. | 0.23% | 389,721 | $134.9M | Add +4.1% |
| CAT Caterpillar Inc. | 0.23% | 279,689 | $133.5M | Reduce -2.9% |
| SNPS Synopsys Inc. | 0.23% | 269,095 | $132.8M | Reduce -6.9% |
| GILD Gilead Sciences Inc. | 0.22% | 1,186,464 | $131.7M | Reduce -4.5% |
| TMUS T-Mobile US Inc. | 0.22% | 548,817 | $131.4M | Add +1.9% |
| AMGN Amgen Inc. | 0.22% | 464,197 | $131.0M | Add +0.1% |
| BSX Boston Scientific Corp. | 0.22% | 1,333,127 | $130.2M | Reduce -1.6% |
| KLAC KLA Corp. | 0.22% | 117,610 | $126.9M | Add +3.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.21% | 319,467 | $125.1M | Add +1.8% |
| BKR Baker Hughes Co. | 0.21% | 2,553,589 | $124.4M | Reduce -8.4% |
| ULTA Ulta Beauty Inc. | 0.21% | 227,235 | $124.2M | Reduce -0.6% |
| CVX Chevron Corp. | 0.21% | 786,541 | $122.1M | Add +18.2% |
| INTC Intel Corp. | 0.21% | 3,632,709 | $121.9M | Reduce -4.3% |
| EW Edwards Lifesciences Corp. | 0.20% | 1,548,072 | $120.4M | Add +4.3% |
| CMCSA Comcast Corp. Class A | 0.20% | 3,825,597 | $120.2M | Add +3.4% |
Options reported separately and not counted above: ADVANCED MICRO DEVICES INC calls ($19.6M), SNAP INC calls ($16.2M), MATCH GROUP INC NEW calls ($7.1M), VICTORIAS SECRET AND CO calls ($6.8M), COINBASE GLOBAL INC calls ($6.7M), TESLA INC puts ($5.7M), ORACLE CORP calls ($4.8M), ETSY INC calls ($4.6M), AMPHENOL CORP calls ($4.1M), CITIGROUP INC calls ($3.9M), GOLDMAN SACHS GROUP INC calls ($3.7M), ABBVIE INC calls ($3.5M), and 49 more.
Other holdings (131): bonds, preferreds, convertibles and warrants · $1.2B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 105,338,000 | $96.5M | Reduce -0.2% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 73,039,000 | $83.2M | Reduce -18.7% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 85,974,000 | $81.0M | Reduce -6.7% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 49,358,000 | $72.8M | Reduce -21.6% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 62,940,000 | $68.7M | Add +9.5% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 67,419,000 | $68.3M | Reduce -3.1% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 60,408,000 | $67.1M | Reduce -4.3% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 52,554,000 | $64.1M | Reduce -10.3% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 42,717,000 | $50.7M | Add +28.6% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 31,585,000 | $34.1M | Add +46.3% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 23,942,000 | $29.8M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 22,542,000 | $25.8M | Add +801.7% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 16,874,000 | $21.9M | Add +4.2% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 21,133,000 | $20.6M | Add +19.2% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 15,842,000 | $19.9M | Add +30.3% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 15,580,000 | $17.2M | Reduce -16.0% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 14,262,000 | $16.4M | Add +28.6% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 11,835,000 | $16.4M | Add +73.7% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 11,739,000 | $14.9M | No change |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 12,737,000 | $14.6M | Reduce -0.9% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 14,750,000 | $14.0M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 13,258,000 | $13.8M | Reduce -18.6% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 9,500,000 | $11.5M | New |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 8,800,000 | $10.1M | Reduce -14.1% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 6,555,000 | $9.0M | Reduce -2.4% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 4,535,000 | $7.5M | Reduce -69.1% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 6,529,000 | $7.2M | Add +8.3% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 6,013,000 | $7.2M | Add +30.4% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 7,579,000 | $6.9M | Add +7.1% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 2,104,000 | $6.8M | Add +12.3% |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 7,800,000 | $6.7M | No change |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 6,100,000 | $6.7M | Add +369.2% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 4,431,000 | $6.2M | Add +134.3% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 3,816,000 | $6.0M | New |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 4,100,000 | $5.8M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 5,950,000 | $5.7M | Reduce -25.9% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 2,500,000 | $5.0M | No change |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 2,198,000 | $4.9M | Add +273.8% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 4,320,000 | $4.9M | No change |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 4,367,000 | $4.7M | Reduce -38.7% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 3,561 | $4.6M | Reduce -8.4% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 4,450,000 | $4.4M | Reduce -64.9% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 4,683,000 | $4.4M | Reduce -6.0% |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | 3,200,000 | $4.3M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 3,700,000 | $4.1M | No change |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 1,700,000 | $4.1M | Reduce -79.6% |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 3,000,000 | $3.6M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 2,583,000 | $3.6M | Reduce -34.8% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 3,514,000 | $3.6M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 3,990,000 | $3.5M | Reduce -41.2% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 3,618,000 | $3.2M | Reduce -17.2% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 1,966,000 | $3.2M | Reduce -46.5% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 3,050,000 | $3.1M | Add +19.6% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 2,200,000 | $3.1M | Add +340.0% |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 3,500,000 | $3.0M | No change |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 2,934,000 | $3.0M | Reduce -42.3% |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 2,800,000 | $2.7M | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 2,900,000 | $2.7M | No change |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 1,079,462 | $2.7M | Reduce -58.0% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 2,600,000 | $2.6M | Add +143.0% |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 1,650,000 | $2.6M | Add +43.5% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 1,843,000 | $2.6M | No change |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 2,500,000 | $2.5M | No change |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 2,500,000 | $2.5M | No change |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 1,700,000 | $2.5M | No change |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 2,600,000 | $2.4M | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 525,000 | $2.4M | Add +600.0% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 1,715,000 | $2.3M | Reduce -65.5% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,105,000 | $2.2M | Reduce -51.1% |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 675,000 | $2.1M | No change |
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | 1,600,000 | $2.1M | No change |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 1,950,000 | $2.1M | New |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 2,172,000 | $2.1M | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 2,050,000 | $2.0M | Add +173.3% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 1,940,000 | $2.0M | Reduce -6.7% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 1,683,000 | $1.7M | No change |
| JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) | NOTE 2.500% 9/0 · principal | 1,600,000 | $1.7M | New |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 1,700,000 | $1.5M | No change |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 360,000 | $1.5M | Reduce -72.3% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 1,600,000 | $1.5M | Reduce -63.4% |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 1,480,000 | $1.4M | No change |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 1,200,000 | $1.4M | Reduce -57.5% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 750,000 | $1.3M | Reduce -86.0% |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 1,295,000 | $1.2M | Reduce -18.7% |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 1,250,000 | $1.2M | No change |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 1,225,000 | $1.2M | New |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 1,200,000 | $1.2M | Add +20.0% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 1,200,000 | $1.1M | Add +71.4% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 1,200,000 | $1.1M | Add +20.0% |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 1,200,000 | $1.0M | Add +20.0% |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 1,000,000 | $1.0M | New |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 1,000,000 | $971K | No change |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 1,000,000 | $970K | No change |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 1,000,000 | $956K | Reduce -44.4% |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 1,000,000 | $913K | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 1,000,000 | $910K | Reduce -23.1% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 800,000 | $890K | No change |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 850,000 | $856K | New |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 300,000 | $849K | Add +20.0% |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 800,000 | $795K | Reduce -43.5% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 15,583 | $777K | No change |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 750,000 | $728K | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 500,000 | $699K | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 667,000 | $682K | Reduce -83.5% |
| JAMF HOLDING CORP (JAMF 0.125 09/01/26) | NOTE 0.125% 9/0 · principal | 700,000 | $673K | No change |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 500,000 | $649K | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 600,000 | $595K | No change |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 600,000 | $591K | No change |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 237,000 | $574K | Reduce -20.2% |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 500,000 | $539K | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 500,000 | $523K | Reduce -28.6% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 500,000 | $493K | Reduce -66.7% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 500,000 | $490K | No change |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 500,000 | $484K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 500,000 | $484K | No change |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 500,000 | $480K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 500,000 | $472K | No change |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | 466,000 | $464K | Add +33.1% |
| UNITI GROUP INC (UNIT 7.5 12/01/27) | NOTE 7.500%12/0 · principal | 358,000 | $396K | New |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 328,000 | $336K | No change |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 216,000 | $325K | Reduce -86.8% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 300,000 | $269K | No change |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 250,000 | $252K | New |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 500,000 | $246K | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 150,000 | $227K | No change |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 50,000 | $227K | Reduce -50.0% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 200,000 | $212K | New |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 200,000 | $211K | Reduce -88.6% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 160,000 | $170K | No change |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 100,000 | $101K | New |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 100,000 | $97K | Reduce -91.7% |
Total filed on the 13F, all lines: $60.0B.
Portfolio Sells Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Reduce -1.7% | 6.26% | −0.27 |
| META Meta Platforms Inc. Class A | Reduce -2.5% | 2.52% | −0.25 |
| V Visa Inc. Class A | Reduce -1.8% | 1.27% | −0.16 |
| INTU Intuit Inc. | Reduce -0.0% | 0.50% | −0.12 |
| BKNG Booking Holdings Inc. | Reduce -5.0% | 0.51% | −0.10 |
| ADBE Adobe Inc. | Reduce -3.9% | 0.47% | −0.10 |
| CMG Chipotle Mexican Grill Inc. | Reduce -7.7% | 0.13% | −0.09 |
| SPGI S&P Global Inc. | Reduce -5.2% | 0.39% | −0.08 |
| FTNT Fortinet Inc. | Reduce -21.3% | 0.12% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -1.6% | 0.51% | −0.08 |
| DLR Digital Realty Trust Inc. | Reduce -16.9% | 0.26% | −0.08 |
| PYPL PayPal Holdings Inc. | Reduce -17.0% | 0.18% | −0.07 |
| ELV Elevance Health Inc. | Reduce -11.4% | 0.15% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -14.9% | 0.34% | −0.07 |
| SUI Sun Communities Inc. | Reduce -49.8% | 0.06% | −0.07 |
| STLA Stellantis NV | Reduce -39.1% | 0.07% | −0.06 |
| PSA Public Storage | Reduce -28.1% | 0.12% | −0.06 |
| CSX CSX Corp. | Reduce -31.6% | 0.13% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -0.5% | 0.48% | −0.05 |
| PM Philip Morris International | Reduce -2.4% | 0.23% | −0.05 |
| ESS Essex Property Trust Inc. | Reduce -28.9% | 0.09% | −0.05 |
| FERG Ferguson Enterprises Inc. | Reduce -21.9% | 0.15% | −0.05 |
| ETN Eaton Corp. PLC | Reduce -14.9% | 0.24% | −0.05 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.05 |
| IDXX Idexx Laboratories Inc. | Reduce -34.7% | 0.12% | −0.05 |
| AMP Ameriprise Financial Inc. | Reduce -13.2% | 0.14% | −0.05 |
| INVH Invitation Homes Inc. | Reduce -18.4% | 0.10% | −0.04 |
| ADP Automatic Data Processing | Reduce -3.9% | 0.26% | −0.04 |
| SNPS Synopsys Inc. | Reduce -6.9% | 0.23% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -4.8% | 0.34% | −0.04 |
| BSX Boston Scientific Corp. | Reduce -1.6% | 0.22% | −0.04 |
| HES Hess Corp. | Sold out | 0.00% | −0.04 |
| T AT&T Inc. | Reduce -6.0% | 0.23% | −0.04 |
| CARR Carrier Global Corp. | Reduce -6.6% | 0.09% | −0.04 |
| WELL Welltower Inc. | Reduce -16.4% | 0.36% | −0.04 |
| AMRZ Amrize Ltd. | Reduce -16.8% | 0.12% | −0.04 |
| ROL Rollins Inc. | Reduce -27.5% | 0.08% | −0.03 |
| FDS Factset Research Systems Inc. | Reduce -14.0% | 0.04% | −0.03 |
| HWM Howmet Aerospace Inc. | Reduce -17.4% | 0.15% | −0.03 |
| CTAS Cintas Corp. | Reduce -8.7% | 0.12% | −0.03 |
| DHR Danaher Corp. | Reduce -4.0% | 0.30% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -5.6% | 0.39% | −0.03 |
| MAR Marriott International Class A | Reduce -10.2% | 0.13% | −0.03 |
| CHTR Charter Communications Inc. Class A | Reduce -1.9% | 0.05% | −0.03 |
| CL Colgate-Palmolive Co. | Reduce -7.5% | 0.10% | −0.03 |
| ICE Intercontinental Exchange Inc. | Reduce -3.1% | 0.15% | −0.03 |
| EBAY eBay Inc. | Reduce -32.4% | 0.10% | −0.03 |
| MRSH Marsh & McLennan Cos | Reduce -1.2% | 0.17% | −0.03 |
| TTD Trade Desk Inc./the Class A | Reduce -34.1% | 0.02% | −0.03 |
| ALGN Align Technology Inc. | Reduce -23.1% | 0.03% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +2.2% | 4.82% | +0.77 |
| NVDA Nvidia Corp. | Add +0.4% | 7.05% | +0.71 |
| APP AppLovin Corp. Class A | Add +7.9% | 0.36% | +0.19 |
| PLTR Palantir Technologies Inc. Class A | Add +3.8% | 0.43% | +0.10 |
| NEM Newmont Corp. | Add +2.5% | 0.24% | +0.07 |
| BX Blackstone Inc. | Add +64.8% | 0.15% | +0.07 |
| HD Home Depot Inc. | Add +8.5% | 0.54% | +0.06 |
| WDC Western Digital Corp. | Add +119.6% | 0.07% | +0.05 |
| LOW Lowe's Cos Inc. | Add +11.8% | 0.31% | +0.05 |
| MCD McDonald's Corp. | Add +12.3% | 0.43% | +0.04 |
| CVX Chevron Corp. | Add +18.2% | 0.21% | +0.03 |
| HOOD Robinhood Markets Inc. Class A | Add +34.9% | 0.07% | +0.03 |
| UBER Uber Technologies Inc. | Add +9.4% | 0.47% | +0.03 |
| TJX TJX Companies Inc. | Add +3.2% | 0.28% | +0.03 |
| KLAC KLA Corp. | Add +3.0% | 0.22% | +0.03 |
| PGR Progressive Corp. | Add +27.9% | 0.27% | +0.03 |
| ORLY O'reilly Automotive Inc. | Add +6.4% | 0.15% | +0.02 |
| NEE Nextera Energy Inc. | Add +7.1% | 0.27% | +0.02 |
| FSLR First Solar Inc. | Add +4.2% | 0.09% | +0.02 |
| DHI D.R. Horton Inc. | Add +28.3% | 0.06% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +2.1% | 0.37% | +0.02 |
| CMI Cummins Inc. | Add +4.0% | 0.10% | +0.02 |
| PL Planet Labs PBC | Add +231.0% | 0.02% | +0.02 |
| BE Bloom Energy Corp. Class A | Add +929.7% | 0.02% | +0.02 |
| TPR Tapestry Inc. | Add +20.0% | 0.06% | +0.02 |
| CDNS Cadence Design SYS Inc. | Add +6.3% | 0.15% | +0.02 |
| CEG Constellation Energy | Add +20.5% | 0.13% | +0.02 |
| ELS Equity Lifestyle Properties | Add +70.4% | 0.05% | +0.02 |
| GLW Corning Inc. | Add +8.9% | 0.05% | +0.02 |
| HL Hecla Mining Co. | Add +207.2% | 0.02% | +0.02 |
| SCCO Southern Copper Corp. | Add +8.3% | 0.08% | +0.01 |
| VRNS Varonis Systems Inc. | Add +147.1% | 0.02% | +0.01 |
| W Wayfair Inc. Class A | Add +1208.8% | 0.02% | +0.01 |
| WULF Terawulf Inc. | Add +53.1% | 0.02% | +0.01 |
| XYL Xylem Inc. | Add +4.6% | 0.14% | +0.01 |
| PI Impinj Inc. | New | 0.01% | +0.01 |
| MO Altria Group Inc. | Add +10.8% | 0.10% | +0.01 |
| GH Guardant Health Inc. | Add +54.4% | 0.03% | +0.01 |
| VRT Vertiv Holdings Co. Class A | Add +7.4% | 0.09% | +0.01 |
| MSI Motorola Solutions Inc. | Add +5.2% | 0.19% | +0.01 |
| LITE Lumentum Holdings Inc. | Add +35.6% | 0.02% | +0.01 |
| MDB Mongodb Inc. | Add +31.6% | 0.03% | +0.01 |
| MP MP Materials Corp. | Add +368.6% | 0.01% | +0.01 |
| AEP American Electric Power | Add +26.1% | 0.05% | +0.01 |
| EYE National Vision Holdings Inc. | New | 0.01% | +0.01 |
| IBKR Interactive Brokers Gro Class A | Add +21.4% | 0.04% | +0.01 |
| NET Cloudflare Inc. Class A | Add +20.1% | 0.06% | +0.01 |
| VOYA Voya Financial Inc. | Add +148.5% | 0.02% | +0.01 |
| LYV Live Nation Entertainment Inc. | Add +58.9% | 0.03% | +0.01 |
| IONS Ionis Pharmaceuticals Inc. | Add +31.8% | 0.02% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| ADVANCED MICRO DEVICES INC | call | Add +24.5% | 121,100 | $19.6M |
| SNAP INC | call | New | 2,100,100 | $16.2M |
| ADOBE INC | call | Sold out | 20,000 | $7.7Mbefore exit |
| CONSTELLATION BRANDS INC | put | Sold out | 45,000 | $7.3Mbefore exit |
| MATCH GROUP INC NEW | call | New | 200,000 | $7.1M |
| VICTORIAS SECRET AND CO | call | New | 250,000 | $6.8M |
| COINBASE GLOBAL INC | call | New | 20,000 | $6.7M |
| CONAGRA BRANDS INC | put | Sold out | 300,000 | $6.1Mbefore exit |
| TESLA INC | put | New | 13,000 | $5.7M |
| COHERENT CORP | call | Sold out | 60,000 | $5.4Mbefore exit |
| ETSY INC | call | New | 70,000 | $4.6M |
| CITIGROUP INC | call | Add +25.8% | 38,000 | $3.9M |
| GOLDMAN SACHS GROUP INC | call | Add +23.7% | 4,700 | $3.7M |
| ABBVIE INC | call | Add +26.7% | 15,200 | $3.5M |
| JPMORGAN CHASE & CO | call | Add +24.4% | 11,200 | $3.5M |
| CATERPILLAR INC | call | Add +23.3% | 7,400 | $3.5M |
| S&P GLOBAL INC | call | Sold out | 4,400 | $2.3Mbefore exit |
| HOME DEPOT INC | call | New | 5,600 | $2.3M |
| ELI LILLY & CO | call | Sold out | 2,900 | $2.3Mbefore exit |
| DISNEY WALT CO | call | Reduce -83.6% | 19,600 | $2.2M |
| SERVICENOW INC | call | Sold out | 2,100 | $2.2Mbefore exit |
| NETFLIX INC. | call | Sold out | 1,600 | $2.1Mbefore exit |
| BROADCOM INC | call | Add +56.4% | 6,100 | $2.0M |
| ALPHABET INC | call | New | 7,800 | $1.9M |
| META PLATFORMS INC | call | Sold out | 2,500 | $1.8Mbefore exit |
| NVIDIA CORPORATION | call | Add +57.1% | 9,900 | $1.8M |
| SALESFORCE INC | call | Sold out | 6,500 | $1.8Mbefore exit |
| ARISTA NETWORKS INC | call | New | 12,000 | $1.7M |
| HEWLETT PACKARD ENTERPRISE C | call | New | 62,600 | $1.5M |
| TJX COS INC NEW | call | New | 10,500 | $1.5M |
| GENERAL MTRS CO | call | New | 23,700 | $1.4M |
| BLACKROCK INC | call | New | 1,200 | $1.4M |
| BOOKING HOLDINGS INC | call | Sold out | 200 | $1.1Mbefore exit |
| TESLA INC | call | New | 2,200 | $965K |
| APPLE INC | call | New | 3,700 | $945K |
| INTEL CORP | call | New | 22,000 | $738K |
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
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -0.2% | 105,338,000 | $96.5M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Reduce -18.7% | 73,039,000 | $83.2M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Reduce -6.7% | 85,974,000 | $81.0M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Reduce -21.6% | 49,358,000 | $72.8M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +9.5% | 62,940,000 | $68.7M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -3.1% | 67,419,000 | $68.3M |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Reduce -4.3% | 60,408,000 | $67.1M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Reduce -10.3% | 52,554,000 | $64.1M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Add +28.6% | 42,717,000 | $50.7M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +46.3% | 31,585,000 | $34.1M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Add +801.7% | 22,542,000 | $25.8M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Add +4.2% | 16,874,000 | $21.9M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | Add +19.2% | 21,133,000 | $20.6M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Add +30.3% | 15,842,000 | $19.9M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -16.0% | 15,580,000 | $17.2M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Add +28.6% | 14,262,000 | $16.4M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Add +73.7% | 11,835,000 | $16.4M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Reduce -0.9% | 12,737,000 | $14.6M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Reduce -18.6% | 13,258,000 | $13.8M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 9,500,000 | $11.5M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Reduce -14.1% | 8,800,000 | $10.1M |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | Reduce -2.4% | 6,555,000 | $9.0M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Reduce -69.1% | 4,535,000 | $7.5M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Add +8.3% | 6,529,000 | $7.2M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Add +30.4% | 6,013,000 | $7.2M |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | Sold out | 4,976,000 | $7.0Mbefore exit |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +7.1% | 7,579,000 | $6.9M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +12.3% | 2,104,000 | $6.8M |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | Add +369.2% | 6,100,000 | $6.7M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Add +134.3% | 4,431,000 | $6.2M |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | New | 3,816,000 | $6.0M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | New | 4,100,000 | $5.8M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -25.9% | 5,950,000 | $5.7M |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | Add +273.8% | 2,198,000 | $4.9M |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Reduce -38.7% | 4,367,000 | $4.7M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -8.4% | 3,561 | $4.6M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -64.9% | 4,450,000 | $4.4M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Reduce -6.0% | 4,683,000 | $4.4M |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | New | 3,200,000 | $4.3M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | Reduce -79.6% | 1,700,000 | $4.1M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -34.8% | 2,583,000 | $3.6M |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Reduce -41.2% | 3,990,000 | $3.5M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Sold out | 3,374,000 | $3.3Mbefore exit |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | Reduce -17.2% | 3,618,000 | $3.2M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Reduce -46.5% | 1,966,000 | $3.2M |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | Add +19.6% | 3,050,000 | $3.1M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +340.0% | 2,200,000 | $3.1M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -42.3% | 2,934,000 | $3.0M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Reduce -58.0% | 1,079,462 | $2.7M |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | Add +143.0% | 2,600,000 | $2.6M |
Showing the first 50 of 102.
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 | 1,976 | $64.2B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q1 2026 | 1,933 | $57.2B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q4 2025 | 1,911 | $60.5B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025 | 1,895 | $58.9B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q2 2025 | 1,815 | $55.2B | MSFT, NVDA, AAPL, AMZN, META |
| Q1 2025 | 1,820 | $48.7B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q4 2024 | 977 | $49.7B | MSFT, NVDA, AAPL, AMZN, GOOGL |