Universal- Beteiligungs- und Servicegesellschaft mbH
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), Universal- Beteiligungs- und Servicegesellschaft mbH reported 1,911 stock positions worth $60.5 billion. Its top holding was Nvidia (NVDA) at 6.9% of the portfolio, followed by Microsoft (MSFT, 5.6%) and Apple (AAPL, 5.0%). Compared with Q3 2025, it opened 99 new positions, sold out of 85, added to 1,018 and reduced 689. The biggest buy was Apple (AAPL, shares +1%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- FRANKFURT AM MAIN, 2M
- CIK
- 0002057170
- Portfolio Value
- $60.5B (Q4 2025)
- SEC Filing
- 0002057170-26-000014 ↗ filed Jan 28, 2026
Holdings Value
Holdings 1,911 stocks · $60.5B
| NVDA Nvidia Corp. | 6.87% | 22,205,888 | $4.2B | Reduce -0.2% |
| MSFT Microsoft Corp. | 5.64% | 7,051,592 | $3.4B | Reduce -0.8% |
| AAPL Apple Inc. | 5.03% | 11,232,447 | $3.0B | Add +0.8% |
| AMZN Amazon.com Inc. | 3.61% | 9,466,248 | $2.2B | Add +1.1% |
| GOOGL Alphabet Inc. Class A | 3.60% | 6,992,961 | $2.2B | Reduce -5.7% |
| AVGO Broadcom Inc. | 2.25% | 3,917,025 | $1.4B | Add +4.9% |
| META Meta Platforms Inc. Class A | 2.24% | 2,056,315 | $1.4B | Add +2.0% |
| GOOG Alphabet Inc. Class C | 2.10% | 4,083,337 | $1.3B | Reduce -0.6% |
| TSLA Tesla Inc. | 1.31% | 1,783,041 | $795.5M | Add +1.2% |
| V Visa Inc. Class A | 1.26% | 2,176,554 | $764.4M | Reduce -0.8% |
| LLY Eli Lilly & Co. | 1.06% | 599,309 | $642.9M | Reduce -5.3% |
| JPM JPMorgan Chase & Co. | 1.05% | 1,980,599 | $634.6M | Reduce -2.7% |
| MA Mastercard Inc. Class A | 1.03% | 1,086,260 | $620.2M | Add +0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.75% | 903,938 | $452.0M | Add +0.1% |
| JNJ Johnson & Johnson | 0.74% | 2,197,155 | $450.4M | Reduce -5.4% |
| NFLX Netflix Inc. | 0.72% | 4,630,575 | $435.6M | Reduce -0.5% |
| CRM Salesforce Inc. | 0.62% | 1,417,447 | $375.6M | Add +4.7% |
| LIN Linde PLC | 0.59% | 842,026 | $359.8M | Reduce -4.8% |
| AMD Advanced Micro Devices | 0.58% | 1,639,614 | $349.7M | Add +16.3% |
| ABBV Abbvie Inc. | 0.58% | 1,539,022 | $347.9M | Add +0.6% |
| WMT Walmart Inc. | 0.52% | 2,843,072 | $316.0M | Add +1.8% |
| CSCO Cisco Systems Inc. | 0.52% | 4,077,209 | $313.0M | Reduce -4.8% |
| ADBE Adobe Inc. | 0.51% | 882,568 | $310.5M | Add +12.3% |
| INTU Intuit Inc. | 0.49% | 445,144 | $294.9M | Add +2.7% |
| MELI MercadoLibre Inc. | 0.48% | 145,250 | $292.7M | Add +8.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.48% | 5,312,814 | $291.0M | Add +8.3% |
| MU Micron Technology Inc. | 0.48% | 1,008,326 | $288.2M | Add +3.8% |
| BKNG Booking Holdings Inc. | 0.46% | 51,788 | $277.9M | Reduce -6.9% |
| COST Costco Wholesale Corp. | 0.46% | 320,557 | $275.4M | Reduce -0.3% |
| PG The Procter & Gamble Co. | 0.45% | 1,880,097 | $271.1M | Add +1.8% |
| ORCL Oracle Corp. | 0.43% | 1,341,560 | $260.0M | Add +11.9% |
| PLTR Palantir Technologies Inc. Class A | 0.43% | 1,461,366 | $259.2M | Add +4.9% |
| LRCX Lam Research Corp. | 0.43% | 1,499,069 | $257.8M | Reduce -5.5% |
| HD Home Depot Inc. | 0.42% | 730,503 | $251.9M | Reduce -6.1% |
| WFC Wells Fargo & Co. | 0.41% | 2,664,167 | $248.1M | Reduce -3.2% |
| MCD McDonald's Corp. | 0.41% | 808,539 | $247.1M | Reduce -3.9% |
| AMAT Applied Materials Inc. | 0.41% | 961,216 | $246.9M | Reduce -16.1% |
| SPGI S&P Global Inc. | 0.41% | 471,938 | $246.8M | Add +0.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.40% | 2,104,861 | $239.7M | Add +4.9% |
| MRK Merck & Co. Inc. | 0.40% | 2,251,284 | $239.0M | Reduce -6.4% |
| QCOM Qualcomm Inc. | 0.39% | 1,376,959 | $236.7M | Add +2.6% |
| KO The Coca-Cola Co. | 0.39% | 3,379,783 | $235.8M | Reduce -1.9% |
| AXP American Express Co. | 0.39% | 632,596 | $233.1M | Reduce -12.0% |
| PEP Pepsico Inc. | 0.38% | 1,616,168 | $232.6M | Add +14.2% |
| NOW ServiceNow Inc. | 0.38% | 1,501,224 | $231.0M | Add +9.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 752,668 | $219.9M | Add +0.2% |
| WELL Welltower Inc. | 0.36% | 1,167,278 | $217.8M | Reduce -1.2% |
| PLD Prologis Inc. | 0.36% | 1,699,822 | $217.5M | Add +13.8% |
| UNH Unitedhealth Group Inc. | 0.36% | 635,014 | $217.1M | Add +1.6% |
| XOM Exxon Mobil Corp. | 0.36% | 1,798,178 | $216.4M | Add +2.4% |
| UBER Uber Technologies Inc. | 0.36% | 2,632,600 | $215.6M | Reduce -6.5% |
| TMO Thermo Fisher Scientific Inc. | 0.33% | 344,295 | $199.9M | Reduce -10.5% |
| APP AppLovin Corp. Class A | 0.33% | 294,591 | $199.3M | Add +0.5% |
| ISRG Intuitive Surgical Inc. | 0.33% | 351,135 | $199.1M | Reduce -2.7% |
| MS Morgan Stanley | 0.33% | 1,123,672 | $198.3M | Add +1.0% |
| GE General Electric filed as GE AEROSPACE | 0.32% | 635,461 | $193.6M | Add +2.4% |
| DHR Danaher Corp. | 0.32% | 830,447 | $191.1M | Reduce -5.5% |
| APH Amphenol Corp. Class A | 0.31% | 1,397,847 | $189.3M | Add +9.2% |
| SPOT Spotify Technology SA | 0.31% | 325,538 | $188.8M | Reduce -3.0% |
| EQIX Equinix Inc. | 0.31% | 241,596 | $185.4M | Add +1.9% |
| PANW Palo Alto Networks Inc. | 0.31% | 997,868 | $185.2M | Add +2.2% |
| GS Goldman Sachs Group Inc. | 0.30% | 208,286 | $181.1M | Add +6.3% |
| NEE Nextera Energy Inc. | 0.29% | 2,198,432 | $176.4M | Add +5.2% |
| ACN Accenture PLC Class A | 0.29% | 649,446 | $175.0M | Reduce -6.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 1,124,054 | $172.3M | Reduce -0.7% |
| LOW Lowe's Cos Inc. | 0.28% | 708,376 | $171.1M | Reduce -2.3% |
| BLK BlackRock Inc. | 0.28% | 156,053 | $168.1M | Reduce -12.3% |
| ABT Abbott Laboratories | 0.28% | 1,340,260 | $167.7M | Reduce -10.2% |
| ADI Analog Devices Inc. | 0.27% | 600,366 | $163.2M | Add +8.5% |
| NEM Newmont Corp. | 0.27% | 1,598,188 | $161.1M | Reduce -6.3% |
| GILD Gilead Sciences Inc. | 0.26% | 1,313,373 | $159.2M | Add +10.7% |
| SYK Stryker Corp. | 0.26% | 448,358 | $158.0M | Add +4.5% |
| MDT Medtronic PLC | 0.26% | 1,627,614 | $156.5M | Add +3.7% |
| ADSK Autodesk Inc. | 0.25% | 513,454 | $152.4M | Add +1.2% |
| DLR Digital Realty Trust Inc. | 0.25% | 979,019 | $152.1M | Add +8.7% |
| AMGN Amgen Inc. | 0.25% | 465,546 | $152.0M | Add +0.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.25% | 334,898 | $151.8M | Add +4.8% |
| MNST Monster Beverage Corp. | 0.25% | 1,968,350 | $151.6M | Reduce -1.9% |
| CAT Caterpillar Inc. | 0.25% | 267,333 | $151.4M | Reduce -4.4% |
| C Citigroup Inc. | 0.25% | 1,278,741 | $148.7M | Add +11.0% |
| TT Trane Technologies PLC | 0.24% | 377,011 | $146.9M | Reduce -5.5% |
| DE Deere & Co. | 0.24% | 309,983 | $144.4M | Reduce -0.2% |
| TXN Texas Instruments Inc. | 0.24% | 822,972 | $143.1M | Reduce -1.0% |
| KLAC KLA Corp. | 0.24% | 116,983 | $142.7M | Reduce -0.5% |
| VZ Verizon Communications Inc. | 0.23% | 3,479,166 | $141.6M | Add +3.8% |
| ANET Arista Networks Inc. | 0.23% | 1,048,724 | $138.0M | Add +0.4% |
| PGR Progressive Corp. | 0.22% | 595,495 | $135.8M | Reduce -6.3% |
| EW Edwards Lifesciences Corp. | 0.22% | 1,569,237 | $134.1M | Add +1.4% |
| ADP Automatic Data Processing | 0.22% | 515,298 | $132.8M | Reduce -0.3% |
| BSX Boston Scientific Corp. | 0.22% | 1,381,666 | $131.8M | Add +3.6% |
| T AT&T Inc. | 0.21% | 5,236,946 | $129.7M | Add +8.3% |
| ULTA Ulta Beauty Inc. | 0.21% | 211,299 | $128.1M | Reduce -7.0% |
| ETN Eaton Corp. PLC | 0.21% | 395,235 | $126.0M | Add +3.4% |
| SCHW Schwab (charles) Corp. | 0.21% | 1,245,747 | $124.1M | Add +5.0% |
| TMUS T-Mobile US Inc. | 0.20% | 606,025 | $122.1M | Add +10.4% |
| CVX Chevron Corp. | 0.20% | 796,652 | $121.8M | Add +1.3% |
| INTC Intel Corp. | 0.20% | 3,292,665 | $121.7M | Reduce -9.4% |
| CMCSA Comcast Corp. Class A | 0.20% | 4,044,355 | $121.5M | Add +5.7% |
| PM Philip Morris International | 0.20% | 759,299 | $120.3M | Reduce -9.3% |
| GEV GE Vernova Inc. | 0.19% | 173,316 | $113.5M | Add +2.3% |
Options reported separately and not counted above: ORACLE CORP calls ($800K), SNAP INC calls ($660K), ALPHABET INC calls ($516K), ROBINHOOD MKTS INC puts ($420K), ENPHASE ENERGY INC calls ($368K), STRATEGY INC puts ($335K), NEWMONT CORP calls ($258K), TESLA INC puts ($246K), NVIDIA CORPORATION calls ($207K), PINTEREST INC calls ($204K).
Other holdings (132): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 103,538,000 | $93.6M | Reduce -1.7% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 77,867,000 | $81.0M | Add +23.7% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 80,974,000 | $80.5M | Reduce -5.8% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 50,933,000 | $66.3M | Add +3.2% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 57,922,000 | $62.5M | Reduce -4.1% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 57,419,000 | $57.3M | Reduce -14.8% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 48,595,000 | $57.1M | Add +103.0% |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 43,174,000 | $54.1M | Add +1.1% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 46,935,000 | $50.3M | Add +986.5% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 34,122,000 | $37.8M | Add +51.4% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 31,585,000 | $33.3M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 17,838,000 | $22.7M | Add +34.5% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 22,299,000 | $22.6M | Add +43.1% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 21,133,000 | $20.7M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 12,899,000 | $18.4M | Reduce -23.6% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 16,622,000 | $17.2M | Add +4.9% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 10,286,000 | $16.0M | Add +169.6% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 12,739,000 | $15.6M | Add +8.5% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 14,750,000 | $14.3M | No change |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 12,372,000 | $12.9M | Reduce -2.9% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 12,189,000 | $11.8M | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 9,500,000 | $10.8M | No change |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 10,200,000 | $10.4M | Add +15.9% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 7,729,000 | $9.9M | Add +18.4% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,909,000 | $8.9M | Reduce -9.3% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 5,146,000 | $8.2M | Reduce -56.5% |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 6,455,000 | $7.2M | New |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 6,400,000 | $7.1M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 7,579,000 | $7.0M | No change |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 5,310,000 | $6.8M | Add +29.5% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 4,545,000 | $6.7M | Add +0.2% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 4,000,000 | $6.7M | Add +81.8% |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 6,100,000 | $6.5M | No change |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 7,800,000 | $6.4M | No change |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 5,367,000 | $5.9M | Add +22.9% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 3,031,000 | $5.7M | Reduce -31.6% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 4,910,000 | $5.7M | Reduce -18.3% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 1,800,000 | $5.1M | Add +260.0% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 3,592 | $4.5M | Add +0.9% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 4,683,000 | $4.5M | No change |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 3,700,000 | $4.1M | No change |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 3,000,000 | $4.1M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 3,950,000 | $4.0M | Reduce -33.6% |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 3,656,000 | $4.0M | New |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | NOTE 2.250% 7/0 · principal | 3,200,000 | $3.8M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 3,750,000 | $3.7M | Reduce -15.7% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 1,047,384 | $3.5M | Reduce -3.0% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 3,514,000 | $3.5M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 2,583,000 | $3.4M | No change |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 3,109,000 | $3.3M | New |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 3,618,000 | $3.3M | No change |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 1,600,000 | $3.3M | Reduce -36.0% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 2,151,000 | $3.2M | Add +9.4% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 2,934,000 | $3.0M | No change |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 1,100,000 | $2.8M | Add +63.0% |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 2,800,000 | $2.8M | No change |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 3,100,000 | $2.8M | New |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 1,700,000 | $2.6M | No change |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 2,450,000 | $2.6M | Add +48.5% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 2,500,000 | $2.5M | No change |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 2,450,000 | $2.3M | Add +25.6% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 2,172,000 | $2.3M | No change |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 1,980,000 | $2.2M | Add +33.8% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 1,843,000 | $2.1M | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 425,000 | $1.8M | Reduce -19.1% |
| STRATEGY INC (MSTR 0.625 09/15/28) | NOTE 0.625% 9/1 · principal | 1,500,000 | $1.8M | New |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 1,750,000 | $1.7M | Reduce -14.6% |
| UPSTART HOLDINGS INC (UPST 2 10/01/29) | NOTE 2.000%10/0 · principal | 1,300,000 | $1.7M | New |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 1,683,000 | $1.7M | No change |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 1,506,000 | $1.6M | Add +16.3% |
| JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) | NOTE 2.500% 9/0 · principal | 1,600,000 | $1.6M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 1,700,000 | $1.5M | No change |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 1,200,000 | $1.4M | No change |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 1,250,000 | $1.2M | No change |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 1,200,000 | $1.2M | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 1,200,000 | $1.2M | No change |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 1,100,000 | $1.1M | Reduce -57.7% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 1,200,000 | $1.1M | No change |
| RIOT PLATFORMS INC (RIOT 0.75 01/15/30) | NOTE 0.750% 1/1 · principal | 970,000 | $1.1M | New |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 1,200,000 | $1.1M | No change |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | 1,040,000 | $1.0M | Add +123.2% |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 1,000,000 | $979K | No change |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 1,000,000 | $974K | No change |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 1,000,000 | $962K | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 1,000,000 | $953K | Reduce -65.5% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 363,000 | $938K | Add +53.2% |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 1,000,000 | $926K | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 1,000,000 | $908K | No change |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 800,000 | $871K | No change |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 750,000 | $812K | Reduce -94.7% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 15,583 | $804K | No change |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 800,000 | $800K | No change |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 750,000 | $797K | Reduce -61.3% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 1,025,000 | $747K | Add +20.6% |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 750,000 | $735K | No change |
| JAMF HOLDING CORP (JAMF 0.125 09/01/26) | NOTE 0.125% 9/0 · principal | 700,000 | $691K | No change |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 500,000 | $691K | Add +66.7% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 600,000 | $681K | No change |
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | 250,000 | $675K | New |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 600,000 | $660K | Reduce -76.9% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 667,000 | $651K | No change |
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 150,000 | $642K | Reduce -58.3% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 500,000 | $603K | No change |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 600,000 | $599K | No change |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 448,000 | $576K | Reduce -79.6% |
| STRATEGY INC (MSTR 2.25 06/15/32) | NOTE 2.250% 6/1 · principal | 500,000 | $559K | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 100,000 | $536K | Reduce -94.1% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 500,000 | $507K | No change |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 500,000 | $496K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 500,000 | $485K | No change |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · 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 |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 500,000 | $477K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 500,000 | $472K | No change |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 387,000 | $462K | New |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 500,000 | $456K | Reduce -87.5% |
| CENTRUS ENERGY CORP (LEU 2.25 11/01/30) | NOTE 2.250%11/0 · principal | 160,000 | $434K | New |
| UNITI GROUP INC (UNIT 7.5 12/01/27) | NOTE 7.500%12/0 · principal | 358,000 | $396K | No change |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 300,000 | $351K | Reduce -40.0% |
| SABRE GLBL INC (SABHLD 7.32 08/01/26) | NOTE 7.320% 8/0 · principal | 328,000 | $341K | No change |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 300,000 | $273K | No change |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 250,000 | $257K | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 150,000 | $252K | No change |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 599 | $220K | New |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 200,000 | $206K | No change |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 200,000 | $204K | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 150,000 | $191K | Reduce -91.3% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 160,000 | $159K | No change |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 100,000 | $98K | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 11,442 | $10K | Reduce -12.5% |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 11,442 | $6K | New |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 11,442 | $4K | New |
Total filed on the 13F, all lines: $61.6B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -0.8% | 5.64% | −0.61 |
| NFLX Netflix Inc. | Reduce -0.5% | 0.72% | −0.23 |
| NVDA Nvidia Corp. | Reduce -0.2% | 6.87% | −0.18 |
| LIN Linde PLC | Reduce -4.8% | 0.59% | −0.12 |
| HD Home Depot Inc. | Reduce -6.1% | 0.42% | −0.12 |
| UBER Uber Technologies Inc. | Reduce -6.5% | 0.36% | −0.11 |
| FISV Fiserv Inc. | Reduce -43.0% | 0.04% | −0.09 |
| SPOT Spotify Technology SA | Reduce -3.0% | 0.31% | −0.09 |
| SHW The Sherwin-Williams Co. | Reduce -26.4% | 0.15% | −0.08 |
| BLK BlackRock Inc. | Reduce -12.3% | 0.28% | −0.07 |
| ABT Abbott Laboratories | Reduce -10.2% | 0.28% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -6.9% | 0.46% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -0.3% | 0.46% | −0.05 |
| TT Trane Technologies PLC | Reduce -5.5% | 0.24% | −0.04 |
| SNPS Synopsys Inc. | Reduce -12.8% | 0.18% | −0.04 |
| PGR Progressive Corp. | Reduce -6.3% | 0.22% | −0.04 |
| ELF Elf Beauty Inc. | Reduce -95.6% | 0.00% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -2.7% | 1.05% | −0.04 |
| QGEN Qiagen N.V. | Reduce -24.0% | 0.13% | −0.04 |
| COIN Coinbase Global Inc. Class A | Reduce -15.4% | 0.05% | −0.04 |
| ADP Automatic Data Processing | Reduce -0.3% | 0.22% | −0.04 |
| BKR Baker Hughes Co. | Reduce -9.2% | 0.17% | −0.04 |
| AZO AutoZone Inc. | Reduce -4.7% | 0.09% | −0.03 |
| CME Cme Group Inc. | Reduce -17.9% | 0.14% | −0.03 |
| ROL Rollins Inc. | Reduce -39.1% | 0.05% | −0.03 |
| PM Philip Morris International | Reduce -9.3% | 0.20% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.2% | 0.15% | −0.03 |
| ORLY O'reilly Automotive Inc. | Reduce -3.3% | 0.12% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -0.7% | 0.15% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -2.3% | 0.28% | −0.03 |
| RBLX Roblox Corp. Class A | Reduce -7.3% | 0.03% | −0.03 |
| DGX Quest Diagnostics Inc. | Reduce -35.9% | 0.03% | −0.03 |
| MCD McDonald's Corp. | Reduce -3.9% | 0.41% | −0.03 |
| PSA Public Storage | Reduce -11.2% | 0.09% | −0.03 |
| VICI Vici Properties Inc. | Reduce -26.7% | 0.04% | −0.03 |
| K Kellanova | Sold out | 0.00% | −0.02 |
| PKG Packaging Corp. of America | Reduce -29.6% | 0.05% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -1.0% | 0.24% | −0.02 |
| CVLT Commvault Systems Inc. | Reduce -67.6% | 0.01% | −0.02 |
| LNG Cheniere Energy Inc. | Reduce -11.6% | 0.05% | −0.02 |
| CARR Carrier Global Corp. | Reduce -11.9% | 0.07% | −0.02 |
| PFE Pfizer Inc. | Reduce -7.0% | 0.17% | −0.02 |
| CHTR Charter Communications Inc. Class A | Reduce -21.3% | 0.03% | −0.02 |
| AXP American Express Co. | Reduce -12.0% | 0.39% | −0.02 |
| VMC Vulcan Materials Co. | Reduce -9.0% | 0.09% | −0.02 |
| FAST Fastenal Co. | Reduce -6.7% | 0.06% | −0.02 |
| CMG Chipotle Mexican Grill Inc. | Reduce -8.2% | 0.11% | −0.02 |
| ALAB Astera Labs Inc. | Reduce -55.3% | 0.01% | −0.02 |
| CPRT Copart Inc. | Reduce -17.1% | 0.05% | −0.02 |
| DHI D.R. Horton Inc. | Reduce -20.6% | 0.04% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| AAPL Apple Inc. | Add +0.8% | 5.03% | +0.21 |
| MU Micron Technology Inc. | Add +3.8% | 0.48% | +0.20 |
| AMD Advanced Micro Devices | Add +16.3% | 0.58% | +0.19 |
| AVGO Broadcom Inc. | Add +4.9% | 2.25% | +0.16 |
| CACC Credit Acceptance Corp. | Add +764.8% | 0.15% | +0.13 |
| AMZN Amazon.com Inc. | Add +1.1% | 3.61% | +0.12 |
| CRM Salesforce Inc. | Add +4.7% | 0.62% | +0.08 |
| PLD Prologis Inc. | Add +13.8% | 0.36% | +0.07 |
| HL Hecla Mining Co. | Add +170.6% | 0.08% | +0.06 |
| BAC Bank of America Corp. | Add +8.3% | 0.48% | +0.05 |
| C Citigroup Inc. | Add +11.0% | 0.25% | +0.05 |
| PEP Pepsico Inc. | Add +14.2% | 0.38% | +0.05 |
| APH Amphenol Corp. Class A | Add +9.2% | 0.31% | +0.04 |
| ADBE Adobe Inc. | Add +12.3% | 0.51% | +0.04 |
| ZTS Zoetis Inc. | Add +57.8% | 0.17% | +0.04 |
| WDC Western Digital Corp. | Add +13.2% | 0.11% | +0.04 |
| GILD Gilead Sciences Inc. | Add +10.7% | 0.26% | +0.04 |
| ADI Analog Devices Inc. | Add +8.5% | 0.27% | +0.04 |
| VRTX Vertex Pharmaceuticals Inc. | Add +4.8% | 0.25% | +0.04 |
| UPS United Parcel Service Class B | Add +15.7% | 0.14% | +0.04 |
| REGN Regeneron Pharmaceuticals | Add +0.8% | 0.14% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +6.3% | 0.30% | +0.03 |
| LITE Lumentum Holdings Inc. | Add +8.1% | 0.06% | +0.03 |
| WMT Walmart Inc. | Add +1.8% | 0.52% | +0.03 |
| AER Aercap Holdings NV | Add +30.9% | 0.10% | +0.03 |
| BMY Bristol-Myers Squibb Co. | Add +5.5% | 0.16% | +0.03 |
| AMGN Amgen Inc. | Add +0.3% | 0.25% | +0.03 |
| MS Morgan Stanley | Add +1.0% | 0.33% | +0.03 |
| FITB Fifth Third Bancorp | Add +97.9% | 0.05% | +0.03 |
| PWR Quanta Services Inc. | Add +33.8% | 0.10% | +0.03 |
| STLA Stellantis NV | Add +1.6% | 0.09% | +0.03 |
| FCX Freeport-McMoran Inc. | Add +13.9% | 0.08% | +0.02 |
| APG Api Group Corp. | Add +143.0% | 0.04% | +0.02 |
| NEE Nextera Energy Inc. | Add +5.2% | 0.29% | +0.02 |
| RGLD Royal Gold Inc. | Add +514.7% | 0.03% | +0.02 |
| EXPE Expedia Group Inc. | Add +23.6% | 0.06% | +0.02 |
| PH Parker Hannifin Corp. | Add +5.5% | 0.14% | +0.02 |
| XOM Exxon Mobil Corp. | Add +2.4% | 0.36% | +0.02 |
| ECL Ecolab Inc. | Add +25.9% | 0.14% | +0.02 |
| SPGI S&P Global Inc. | Add +0.5% | 0.41% | +0.02 |
| PCAR Paccar Inc. | Add +20.3% | 0.08% | +0.02 |
| LMND Lemonade Inc. | New | 0.02% | +0.02 |
| PRAX Praxis Precision Medicines I | New | 0.02% | +0.02 |
| CIEN Ciena Corp. | Add +111.7% | 0.03% | +0.02 |
| EW Edwards Lifesciences Corp. | Add +1.4% | 0.22% | +0.02 |
| VTR Ventas Inc. | Add +9.0% | 0.11% | +0.02 |
| INSM Insmed Inc. | Add +89.5% | 0.03% | +0.02 |
| COF Capital One Financial Corp. | Add +2.3% | 0.14% | +0.02 |
| CTSH Cognizant Tech Solutions-A | Add +4.8% | 0.07% | +0.02 |
| EOSE Eos Energy Enterprises Inc. | Add +2431.5% | 0.02% | +0.02 |
Options Activity Q3 2025 → Q4 2025
| ADVANCED MICRO DEVICES INC | call | Sold out | 121,100 | $19.6Mbefore exit |
| MATCH GROUP INC NEW | call | Sold out | 200,000 | $7.1Mbefore exit |
| VICTORIAS SECRET AND CO | call | Sold out | 250,000 | $6.8Mbefore exit |
| COINBASE GLOBAL INC | call | Sold out | 20,000 | $6.7Mbefore exit |
| ETSY INC | call | Sold out | 70,000 | $4.6Mbefore exit |
| AMPHENOL CORP | call | Sold out | 33,100 | $4.1Mbefore exit |
| CITIGROUP INC | call | Sold out | 38,000 | $3.9Mbefore exit |
| GOLDMAN SACHS GROUP INC | call | Sold out | 4,700 | $3.7Mbefore exit |
| ABBVIE INC | call | Sold out | 15,200 | $3.5Mbefore exit |
| JPMORGAN CHASE & CO | call | Sold out | 11,200 | $3.5Mbefore exit |
| CATERPILLAR INC | call | Sold out | 7,400 | $3.5Mbefore exit |
| UBER TECHNOLOGIES INC | call | Sold out | 33,200 | $3.3Mbefore exit |
| INTERNATIONAL BUSINESS MACHS | call | Sold out | 10,500 | $3.0Mbefore exit |
| AT&T INC | call | Sold out | 103,500 | $2.9Mbefore exit |
| JOHNSON & JOHNSON | call | Sold out | 15,100 | $2.8Mbefore exit |
| MORGAN STANLEY | call | Sold out | 17,000 | $2.7Mbefore exit |
| MICRON TECHNOLOGY INC | call | Sold out | 15,500 | $2.6Mbefore exit |
| WELLS FARGO & CO | call | Sold out | 30,400 | $2.5Mbefore exit |
| BANK OF AMER CORP | call | Sold out | 48,300 | $2.5Mbefore exit |
| WALMART INC | call | Sold out | 23,800 | $2.5Mbefore exit |
| CORNING INC | call | Sold out | 29,600 | $2.4Mbefore exit |
| BERKSHIRE HATHAWAY INC DEL | call | Sold out | 4,800 | $2.4Mbefore exit |
| AMERICAN EXPRESS CO | call | Sold out | 7,200 | $2.4Mbefore exit |
| MASTERCARD INCORPORATED | call | Sold out | 4,200 | $2.4Mbefore exit |
| COCA COLA CO | call | Sold out | 35,600 | $2.4Mbefore exit |
| VISA INC | call | Sold out | 6,900 | $2.4Mbefore exit |
| PROLOGIS INC. | call | Sold out | 20,500 | $2.3Mbefore exit |
| NEXTERA ENERGY INC | call | Sold out | 30,500 | $2.3Mbefore exit |
| HOME DEPOT INC | call | Sold out | 5,600 | $2.3Mbefore exit |
| MCDONALDS CORP | call | Sold out | 7,400 | $2.2Mbefore exit |
| PROGRESSIVE CORP | call | Sold out | 9,100 | $2.2Mbefore exit |
| DISNEY WALT CO | call | Sold out | 19,600 | $2.2Mbefore exit |
| UNION PAC CORP | call | Sold out | 9,400 | $2.2Mbefore exit |
| MONOLITHIC PWR SYS INC | call | Sold out | 2,300 | $2.1Mbefore exit |
| THERMO FISHER SCIENTIFIC INC | call | Sold out | 4,100 | $2.0Mbefore exit |
| BROADCOM INC | call | Sold out | 6,100 | $2.0Mbefore exit |
| MERCK & CO INC | call | Sold out | 21,900 | $1.8Mbefore exit |
| ARISTA NETWORKS INC | call | Sold out | 12,000 | $1.7Mbefore exit |
| LAM RESEARCH CORP | call | Sold out | 12,100 | $1.6Mbefore exit |
| VERIZON COMMUNICATIONS INC | call | Sold out | 36,100 | $1.6Mbefore exit |
| HEWLETT PACKARD ENTERPRISE C | call | Sold out | 62,600 | $1.5Mbefore exit |
| TJX COS INC NEW | call | Sold out | 10,500 | $1.5Mbefore exit |
| KLA CORP | call | Sold out | 1,400 | $1.5Mbefore exit |
| UNITEDHEALTH GROUP INC | call | Sold out | 4,300 | $1.5Mbefore exit |
| GENERAL MTRS CO | call | Sold out | 23,700 | $1.4Mbefore exit |
| BLACKROCK INC | call | Sold out | 1,200 | $1.4Mbefore exit |
| WASTE MGMT INC DEL | call | Sold out | 6,300 | $1.4Mbefore exit |
| NIKE INC | call | Sold out | 17,600 | $1.2Mbefore exit |
| MICROSOFT CORP | call | Sold out | 2,200 | $1.1Mbefore exit |
| APPLIED MATLS INC | call | Sold out | 5,400 | $1.1Mbefore exit |
Showing the first 50 of 66.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -1.7% | 103,538,000 | $93.6M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Sold out | 73,039,000 | $83.2Mbefore exit |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +23.7% | 77,867,000 | $81.0M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Reduce -5.8% | 80,974,000 | $80.5M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +3.2% | 50,933,000 | $66.3M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Sold out | 52,554,000 | $64.1Mbefore exit |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Reduce -4.1% | 57,922,000 | $62.5M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -14.8% | 57,419,000 | $57.3M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | Add +103.0% | 48,595,000 | $57.1M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Add +1.1% | 43,174,000 | $54.1M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Add +986.5% | 46,935,000 | $50.3M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Add +51.4% | 34,122,000 | $37.8M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +34.5% | 17,838,000 | $22.7M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +43.1% | 22,299,000 | $22.6M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Reduce -23.6% | 12,899,000 | $18.4M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Add +4.9% | 16,622,000 | $17.2M |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | Add +169.6% | 10,286,000 | $16.0M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Add +8.5% | 12,739,000 | $15.6M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Reduce -2.9% | 12,372,000 | $12.9M |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | New | 12,189,000 | $11.8M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Add +15.9% | 10,200,000 | $10.4M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Add +18.4% | 7,729,000 | $9.9M |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | Sold out | 6,555,000 | $9.0Mbefore exit |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -9.3% | 1,909,000 | $8.9M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Reduce -56.5% | 5,146,000 | $8.2M |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | New | 6,455,000 | $7.2M |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | New | 6,400,000 | $7.1M |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | Add +29.5% | 5,310,000 | $6.8M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +0.2% | 4,545,000 | $6.7M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +81.8% | 4,000,000 | $6.7M |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Add +22.9% | 5,367,000 | $5.9M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Reduce -31.6% | 3,031,000 | $5.7M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -18.3% | 4,910,000 | $5.7M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +260.0% | 1,800,000 | $5.1M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +0.9% | 3,592 | $4.5M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -33.6% | 3,950,000 | $4.0M |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | New | 3,656,000 | $4.0M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -15.7% | 3,750,000 | $3.7M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Reduce -3.0% | 1,047,384 | $3.5M |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | New | 3,109,000 | $3.3M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | Reduce -36.0% | 1,600,000 | $3.3M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Add +9.4% | 2,151,000 | $3.2M |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | Sold out | 3,050,000 | $3.1Mbefore exit |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | Sold out | 3,500,000 | $3.0Mbefore exit |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | Add +63.0% | 1,100,000 | $2.8M |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | New | 3,100,000 | $2.8M |
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | Add +48.5% | 2,450,000 | $2.6M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Sold out | 2,500,000 | $2.5Mbefore exit |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | Add +25.6% | 2,450,000 | $2.3M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Add +33.8% | 1,980,000 | $2.2M |
Showing the first 50 of 89.
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 |