Victory Capital Management Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 6, 2025), Victory Capital Management Inc. reported 2,425 stock positions worth $100.1 billion. Its top holding was Apple (AAPL) at 2.9% of the portfolio, followed by Nvidia (NVDA, 2.7%) and Microsoft (MSFT, 2.4%). Compared with Q3 2024, it opened 87 new positions, sold out of 105, added to 1,014 and reduced 1,254. The biggest buy was Apple (AAPL, shares +3%) and the biggest sale Leidos (LDOS, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- San Antonio, TX
- CIK
- 0001040188
- Portfolio Value
- $100.1B (Q4 2024)
- SEC Filing
- 0001040188-25-000021 ↗ filed Feb 6, 2025
Holdings Value
Holdings 2,425 stocks · $100.1B
| AAPL Apple Inc. | 2.87% | 11,476,304 | $2.9B | Add +2.8% |
| NVDA Nvidia Corp. | 2.67% | 19,934,635 | $2.7B | Add +0.3% |
| MSFT Microsoft Corp. | 2.42% | 5,752,618 | $2.4B | Add +0.3% |
| AMZN Amazon.com Inc. | 1.57% | 7,170,023 | $1.6B | Add +4.7% |
| META Meta Platforms Inc. Class A | 1.21% | 2,075,093 | $1.2B | Reduce -9.1% |
| GOOG Alphabet Inc. Class C | 1.06% | 5,548,002 | $1.1B | Add +2.8% |
| AVGO Broadcom Inc. | 0.99% | 4,255,125 | $986.5M | Reduce -17.3% |
| TSLA Tesla Inc. | 0.84% | 2,085,957 | $842.4M | Add +1.1% |
| UITB Victoryshares Core Intermedi | 0.84% | 18,295,671 | $840.9M | Add +0.1% |
| USFD US Foods Holding Corp. | 0.68% | 10,072,400 | $679.5M | Reduce -2.0% |
| GOOGL Alphabet Inc. Class A | 0.67% | 3,562,275 | $674.3M | Reduce -2.6% |
| JPM JPMorgan Chase & Co. | 0.64% | 2,683,987 | $643.4M | Reduce -1.5% |
| LNT Alliant Energy Corp. | 0.64% | 10,806,268 | $639.1M | Reduce -1.7% |
| WTW Willis Towers Watson PLC | 0.62% | 1,969,936 | $617.1M | Reduce -1.6% |
| BKR Baker Hughes Co. | 0.58% | 14,050,573 | $576.4M | Reduce -1.4% |
| ROST Ross Stores Inc. | 0.54% | 3,582,472 | $541.9M | Add +4.1% |
| LLY Eli Lilly & Co. | 0.52% | 677,588 | $523.1M | Reduce -2.8% |
| HIG Hartford Insurance Group Inc. | 0.51% | 4,701,675 | $514.4M | Add +4.5% |
| CPT Camden Property Trust | 0.51% | 4,400,846 | $510.7M | Add +6.7% |
| DGX Quest Diagnostics Inc. | 0.51% | 3,359,986 | $506.9M | Reduce -3.0% |
| EXPE Expedia Group Inc. | 0.49% | 2,649,592 | $493.7M | Add +87.0% |
| CCK Crown Holdings Inc. | 0.48% | 5,779,691 | $477.9M | Add +1.8% |
| NNN NNN REIT Inc. | 0.48% | 11,698,576 | $477.9M | Reduce -4.8% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.47% | 5,290,954 | $472.7M | Reduce -17.8% |
| NFLX Netflix Inc. | 0.46% | 517,776 | $461.5M | Reduce -2.5% |
| AFG American Financial Group Inc. | 0.46% | 3,350,317 | $458.8M | Reduce -1.6% |
| CTRA Coterra Energy Inc. | 0.45% | 17,808,693 | $454.8M | Add +5.0% |
| FNF Fidelity National Financial | 0.45% | 8,093,184 | $454.4M | Add +1.2% |
| PB Prosperity Bancshares Inc. | 0.45% | 5,994,551 | $451.7M | Reduce -2.7% |
| XOM Exxon Mobil Corp. | 0.43% | 4,013,510 | $431.7M | Add +34.3% |
| KNX Knight-Swift Transportation | 0.42% | 7,980,109 | $423.3M | Add +6.8% |
| G Genpact Ltd. | 0.42% | 9,853,437 | $423.2M | Add +18.1% |
| LAMR Lamar Advertising Co. Class A | 0.42% | 3,429,076 | $417.5M | Reduce -0.6% |
| COO The Cooper Cos Inc. | 0.42% | 4,525,018 | $416.0M | Add +14.6% |
| CSCO Cisco Systems Inc. | 0.41% | 6,942,592 | $411.0M | Add +3.1% |
| FNV Franco-Nevada Corp. | 0.40% | 3,423,240 | $402.5M | Reduce -1.9% |
| TRMB Trimble Inc. | 0.40% | 5,665,332 | $400.3M | Add +4.1% |
| TGT Target Corp. | 0.40% | 2,925,254 | $395.4M | Reduce -32.3% |
| AWK American Water Works Co. Inc. | 0.39% | 3,174,395 | $395.2M | Add +120.7% |
| BWA Borgwarner Inc. | 0.39% | 12,193,122 | $387.6M | Reduce -0.5% |
| AXTA Axalta Coating Systems Ltd. | 0.39% | 11,321,994 | $387.4M | Add +9.6% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.38% | 4,487,821 | $382.9M | Add +7.1% |
| WLK Westlake Corp. | 0.38% | 3,313,847 | $379.9M | Add +20.9% |
| MIDD Middleby Corp. | 0.38% | 2,803,279 | $379.7M | Reduce -3.4% |
| V Visa Inc. Class A | 0.38% | 1,188,153 | $375.5M | Reduce -3.3% |
| TXT Textron Inc. | 0.37% | 4,844,843 | $370.6M | Reduce -13.1% |
| EBAY eBay Inc. | 0.37% | 5,936,508 | $367.8M | Add +1.4% |
| SBAC SBA Communications Corp. | 0.36% | 1,781,231 | $363.0M | Add +46.5% |
| ORI Old Republic Intl Corp. | 0.36% | 10,027,922 | $362.9M | Reduce -8.6% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.36% | 2,115,645 | $361.1M | Reduce -3.6% |
| RPM RPM International Inc. | 0.36% | 2,919,474 | $359.3M | Reduce -3.6% |
| JNJ Johnson & Johnson | 0.36% | 2,483,527 | $359.2M | Reduce -6.7% |
| PKG Packaging Corp. of America | 0.36% | 1,593,721 | $358.8M | Reduce -25.3% |
| ZBRA Zebra Technologies Corp. Class A | 0.36% | 928,517 | $358.6M | Reduce -10.4% |
| HBAN Huntington Bancshares Inc. | 0.35% | 21,825,092 | $355.1M | Add +7.4% |
| HOLX Hologic Inc. | 0.35% | 4,917,551 | $354.5M | Add +0.5% |
| AKAM Akamai Technologies Inc. | 0.35% | 3,651,542 | $349.3M | Add +6.9% |
| GLOB Globant SA | 0.34% | 1,606,110 | $344.4M | Add +6.4% |
| XEL Xcel Energy Inc. | 0.34% | 5,095,929 | $344.1M | Reduce -7.2% |
| COST Costco Wholesale Corp. | 0.34% | 372,227 | $341.1M | Reduce -7.9% |
| RRX Regal Rexnord Corp. | 0.34% | 2,176,963 | $337.7M | Add +20.1% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.34% | 2,975,179 | $336.5M | Reduce -5.6% |
| ABBV Abbvie Inc. | 0.33% | 1,884,871 | $334.9M | Reduce -3.3% |
| CHRD Chord Energy Corp. | 0.33% | 2,864,456 | $334.9M | Add +27.6% |
| DVN Devon Energy Corp. | 0.33% | 10,203,812 | $334.0M | Add +2.3% |
| MRK Merck & Co. Inc. | 0.33% | 3,345,122 | $332.8M | Add +12.5% |
| ON On Semiconductor | 0.33% | 5,273,394 | $332.5M | Add +25.7% |
| PFGC Performance Food Group Co. | 0.33% | 3,910,406 | $330.6M | Add +154.2% |
| PEP Pepsico Inc. | 0.32% | 2,133,762 | $324.5M | Add +1.6% |
| MKSI MKS Inc. filed as MKS INSTRS INC | 0.32% | 3,088,283 | $322.4M | Add +1.1% |
| AGCO Agco Corp. | 0.32% | 3,426,674 | $320.3M | Reduce -2.9% |
| QCOM Qualcomm Inc. | 0.32% | 2,083,403 | $320.1M | Add +10.4% |
| UNH Unitedhealth Group Inc. | 0.32% | 627,739 | $317.5M | Add +3.8% |
| ATR Aptargroup Inc. | 0.31% | 1,971,672 | $309.7M | Reduce -6.4% |
| ELS Equity Lifestyle Properties | 0.31% | 4,630,189 | $308.4M | Reduce -0.4% |
| SW Smurfit Westrock PLC | 0.30% | 5,491,092 | $295.8M | Add +4456.7% |
| A Agilent Technologies Inc. | 0.29% | 2,155,325 | $289.5M | Reduce -6.1% |
| GILD Gilead Sciences Inc. | 0.28% | 3,051,567 | $281.9M | Add +19.1% |
| VEA Vanguard Ftse Developed ETF | 0.28% | 5,859,085 | $280.2M | Reduce -0.2% |
| LSTR Landstar System Inc. | 0.28% | 1,621,511 | $278.7M | Add +0.7% |
| MA Mastercard Inc. Class A | 0.28% | 525,676 | $276.8M | Add +1.6% |
| XYL Xylem Inc. | 0.27% | 2,326,024 | $269.9M | Add +42.9% |
| FCN Fti Consulting Inc. | 0.27% | 1,396,258 | $266.9M | Reduce -27.6% |
| USTB Victoryshares Short-Term Bon | 0.26% | 5,122,240 | $257.1M | Add +23.1% |
| PG The Procter & Gamble Co. | 0.25% | 1,517,274 | $254.4M | Add +0.6% |
| TRU Transunion | 0.25% | 2,728,000 | $252.9M | Add +1.1% |
| AVY Avery Dennison Corp. | 0.25% | 1,349,871 | $252.6M | Reduce -4.7% |
| CARR Carrier Global Corp. | 0.25% | 3,655,080 | $249.5M | Reduce -10.8% |
| HD Home Depot Inc. | 0.25% | 637,238 | $247.9M | Reduce -1.5% |
| PM Philip Morris International | 0.24% | 2,014,387 | $242.4M | Reduce -1.3% |
| ISRG Intuitive Surgical Inc. | 0.24% | 455,217 | $237.6M | Reduce -0.4% |
| APTV Aptiv PLC | 0.23% | 3,882,254 | $234.8M | Add +6.1% |
| MO Altria Group Inc. | 0.23% | 4,488,007 | $234.7M | Add +2.1% |
| GS Goldman Sachs Group Inc. | 0.23% | 407,673 | $233.4M | Reduce -12.4% |
| ADBE Adobe Inc. | 0.23% | 522,917 | $232.5M | Add +12.4% |
| ARE Alexandria Real Estate Equit | 0.23% | 2,334,977 | $227.8M | Reduce -35.6% |
| GPN Global Payments Inc. | 0.23% | 2,021,415 | $226.5M | Reduce -29.1% |
| RL Ralph Lauren Corp. | 0.23% | 975,048 | $225.2M | Reduce -20.1% |
| UBND Victoryshares Core Plus Bond | 0.22% | 10,516,523 | $224.7M | Add +5.3% |
| ICLR Icon PLC | 0.22% | 1,060,320 | $222.4M | Reduce -17.0% |
Other holdings (44): bonds, preferreds, convertibles and warrants · $1.6B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 45,572,000 | $120.3M | Reduce -4.9% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 1,240,938 | $107.8M | Reduce -0.1% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 90,039,000 | $89.4M | Reduce -0.7% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 72,745 | $88.7M | Reduce -0.2% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 88,349,000 | $85.5M | Reduce -0.6% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 70,554 | $84.3M | Reduce -0.0% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 90,743,000 | $81.4M | Add +1.0% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 75,241,000 | $77.4M | Reduce -14.3% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 71,760,000 | $73.6M | Reduce -0.3% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 1,714,981 | $70.2M | Reduce -22.4% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 57,625,000 | $60.1M | Reduce -0.3% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 51,839,000 | $59.0M | Reduce -0.7% |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 52,910,000 | $52.3M | Reduce -37.1% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 52,339,000 | $51.7M | Reduce -0.3% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 932,141 | $51.3M | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 48,305,000 | $50.8M | Add +3.7% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 38,975,000 | $43.0M | New |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 37,411,000 | $37.8M | Reduce -0.4% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 31,589,000 | $32.4M | Reduce -0.4% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 28,161,000 | $29.2M | Reduce -0.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 27,303,000 | $28.9M | Reduce -1.1% |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | 13,159,000 | $26.9M | Reduce -52.1% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 25,570,000 | $22.9M | No change |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 21,300,000 | $21.8M | No change |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 21,345,000 | $21.5M | Add +51.0% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 18,863,000 | $21.1M | Reduce -1.6% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 15,795,000 | $20.7M | Reduce -3.5% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 16,658,000 | $15.5M | Reduce -3.3% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 301,000 | $13.7M | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 13,090,000 | $12.6M | Reduce -2.4% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 13,742,000 | $12.3M | Reduce -3.6% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 11,980,000 | $11.6M | Reduce -7.7% |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 12,480,000 | $10.8M | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) | NOTE 2.250% 6/1 · principal | 10,738,000 | $10.5M | Reduce -14.6% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 238,926 | $9.7M | Add +52.5% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 151,784 | $9.2M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 5,851,000 | $7.1M | Reduce -1.0% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 95,604 | $4.7M | Add +165.6% |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | 4,025,000 | $4.0M | Reduce -1.5% |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | 2,351,000 | $2.3M | Reduce -52.1% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 1,500,000 | $1.6M | New |
| WINNEBAGO INDUSTRIES (WGO 1.5 04/01/25) | NOTE 1.500% 4/0 · principal | 1,000,000 | $973K | Reduce -5.6% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 25,845 | $970K | Reduce -61.6% |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | 58,551 | $13K | Reduce -0.3% |
Total filed on the 13F, all lines: $101.7B.
Portfolio Sells Q3 2024 → Q4 2024
| LDOS Leidos Holdings Inc. | Reduce -88.5% | 0.04% | −0.38 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -97.4% | 0.01% | −0.33 |
| BNY Bank of New York Mellon Corp. | Reduce -62.1% | 0.19% | −0.28 |
| MAN Manpowergroup Inc. | Reduce -89.3% | 0.02% | −0.27 |
| TGT Target Corp. | Reduce -32.3% | 0.40% | −0.26 |
| IEMG iShares Core MSCI Emerging | Reduce -79.2% | 0.05% | −0.22 |
| ARE Alexandria Real Estate Equit | Reduce -35.6% | 0.23% | −0.19 |
| DRI Darden Restaurants Inc. | Reduce -87.7% | 0.03% | −0.18 |
| YUM Yum! Brands Inc. | Reduce -86.7% | 0.03% | −0.17 |
| FCN Fti Consulting Inc. | Reduce -27.6% | 0.27% | −0.16 |
| ICLR Icon PLC | Reduce -17.0% | 0.22% | −0.14 |
| MSI Motorola Solutions Inc. | Reduce -41.7% | 0.21% | −0.14 |
| TXT Textron Inc. | Reduce -13.1% | 0.37% | −0.11 |
| NNN NNN REIT Inc. | Reduce -4.8% | 0.48% | −0.11 |
| PKG Packaging Corp. of America | Reduce -25.3% | 0.36% | −0.09 |
| DUK Duke Energy Corp. | Reduce -56.1% | 0.06% | −0.08 |
| LLY Eli Lilly & Co. | Reduce -2.8% | 0.52% | −0.08 |
| MMS Maximus Inc. | Reduce -95.8% | 0.00% | −0.08 |
| CIEN Ciena Corp. | Reduce -79.9% | 0.03% | −0.08 |
| AMD Advanced Micro Devices | Reduce -11.9% | 0.15% | −0.08 |
| CAT Caterpillar Inc. | Reduce -25.8% | 0.17% | −0.07 |
| CARR Carrier Global Corp. | Reduce -10.8% | 0.25% | −0.07 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.07 |
| EMXC iShares MSCI Emr MRK Ex Chna | Sold out | 0.00% | −0.07 |
| CHH Choice Hotels Intl Inc. | Reduce -99.1% | 0.00% | −0.07 |
| SON Sonoco Products Co. | Reduce -91.6% | 0.01% | −0.07 |
| VST Vistra Corp. | Reduce -68.4% | 0.04% | −0.06 |
| META Meta Platforms Inc. Class A | Reduce -9.1% | 1.21% | −0.06 |
| JNJ Johnson & Johnson | Reduce -6.7% | 0.36% | −0.06 |
| AMAT Applied Materials Inc. | Reduce -12.3% | 0.16% | −0.06 |
| GPN Global Payments Inc. | Reduce -29.1% | 0.23% | −0.06 |
| SUM Summit Materials Inc. Class A | Reduce -63.7% | 0.06% | −0.06 |
| ATSG Air Transport Services Group | Sold out | 0.00% | −0.06 |
| NWE Northwestern Energy Group Inc. | Reduce -53.0% | 0.05% | −0.06 |
| AVY Avery Dennison Corp. | Reduce -4.7% | 0.25% | −0.05 |
| OXM Oxford Industries Inc. | Reduce -86.7% | 0.01% | −0.05 |
| BWA Borgwarner Inc. | Reduce -0.5% | 0.39% | −0.05 |
| CNS Cohen & Steers Inc. | Reduce -30.4% | 0.10% | −0.05 |
| HUN Huntsman Corp. | Reduce -95.3% | 0.00% | −0.05 |
| BJ Bj's Wholesale Club Holdings | Reduce -17.8% | 0.47% | −0.05 |
| A Agilent Technologies Inc. | Reduce -6.1% | 0.29% | −0.04 |
| BC Brunswick Corp. | Reduce -21.0% | 0.07% | −0.04 |
| PSX Phillips 66 | Reduce -48.5% | 0.04% | −0.04 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -20.5% | 0.12% | −0.04 |
| ABBV Abbvie Inc. | Reduce -3.3% | 0.33% | −0.04 |
| CL Colgate-Palmolive Co. | Reduce -6.7% | 0.21% | −0.04 |
| NUE Nucor Corp. | Reduce -59.4% | 0.02% | −0.04 |
| VNQ Vanguard Real Estate ETF | Reduce -40.1% | 0.05% | −0.04 |
| SEM Select Medical Holdings Corp. | Reduce -91.7% | 0.00% | −0.04 |
| CPB The Campbell's Company | Reduce -62.4% | 0.02% | −0.04 |
Portfolio Buys Q3 2024 → Q4 2024
| AAPL Apple Inc. | Add +2.8% | 2.87% | +0.33 |
| AMZN Amazon.com Inc. | Add +4.7% | 1.57% | +0.32 |
| TSLA Tesla Inc. | Add +1.1% | 0.84% | +0.31 |
| NVDA Nvidia Corp. | Add +0.3% | 2.67% | +0.31 |
| SW Smurfit Westrock PLC | Add +4456.7% | 0.30% | +0.29 |
| EXPE Expedia Group Inc. | Add +87.0% | 0.49% | +0.29 |
| PFGC Performance Food Group Co. | Add +154.2% | 0.33% | +0.21 |
| AWK American Water Works Co. Inc. | Add +120.7% | 0.39% | +0.19 |
| CART Maplebear Inc. | Add +11501.2% | 0.19% | +0.19 |
| GOOG Alphabet Inc. Class C | Add +2.8% | 1.06% | +0.17 |
| PLTR Palantir Technologies Inc. Class A | Add +149.8% | 0.13% | +0.10 |
| G Genpact Ltd. | Add +18.1% | 0.42% | +0.10 |
| XOM Exxon Mobil Corp. | Add +34.3% | 0.43% | +0.09 |
| SBAC SBA Communications Corp. | Add +46.5% | 0.36% | +0.08 |
| GILD Gilead Sciences Inc. | Add +19.1% | 0.28% | +0.07 |
| TRMB Trimble Inc. | Add +4.1% | 0.40% | +0.07 |
| HBAN Huntington Bancshares Inc. | Add +7.4% | 0.35% | +0.06 |
| ADP Automatic Data Processing | Add +44.6% | 0.17% | +0.06 |
| GM General Motors Co. | Add +80.9% | 0.11% | +0.06 |
| CSCO Cisco Systems Inc. | Add +3.1% | 0.41% | +0.06 |
| MS Morgan Stanley | Add +58.0% | 0.12% | +0.06 |
| CTRA Coterra Energy Inc. | Add +5.0% | 0.45% | +0.06 |
| ULTA Ulta Beauty Inc. | Add +364.6% | 0.07% | +0.06 |
| XYL Xylem Inc. | Add +42.9% | 0.27% | +0.05 |
| INGM Ingram Micro Holding Corp. | New | 0.05% | +0.05 |
| UPS United Parcel Service Class B | Add +73.7% | 0.14% | +0.05 |
| IWM iShares Russell 2000 ETF | Add +312.4% | 0.07% | +0.05 |
| GLOB Globant SA | Add +6.4% | 0.34% | +0.05 |
| USTB Victoryshares Short-Term Bon | Add +23.1% | 0.26% | +0.05 |
| TKR Timken Co. | Add +418.4% | 0.06% | +0.05 |
| CHRD Chord Energy Corp. | Add +27.6% | 0.33% | +0.05 |
| SYBT Stock Yards Bancorp Inc. | Add +120.2% | 0.08% | +0.05 |
| GFLW VS Free Cash Flow Growth ETF | New | 0.05% | +0.05 |
| MTH Meritage Homes Corp. | Add +2199.9% | 0.05% | +0.04 |
| EOG EOG Resources Inc. | Add +30.2% | 0.18% | +0.04 |
| RRX Regal Rexnord Corp. | Add +20.1% | 0.34% | +0.04 |
| TCOM Trip.com Group Ltd.-ADR | Add +5490.3% | 0.04% | +0.04 |
| JBL Jabil Inc. | Add +50.8% | 0.09% | +0.04 |
| BHF Brighthouse Financial Inc. | Add +2632.8% | 0.04% | +0.04 |
| XLF SS Financial Select Sector | Add +32.7% | 0.13% | +0.04 |
| SFBS Servisfirst Bancshares Inc. | Add +106.4% | 0.07% | +0.04 |
| KEY Keycorp | Add +57.0% | 0.10% | +0.04 |
| NVST Envista Holdings Corp. | Add +6247.9% | 0.04% | +0.04 |
| COP Conocophillips | Add +33.0% | 0.18% | +0.04 |
| ATKR Atkore Inc. | Add +3948.4% | 0.04% | +0.04 |
| PFE Pfizer Inc. | Add +47.8% | 0.14% | +0.04 |
| FTNT Fortinet Inc. | Add +9.8% | 0.14% | +0.04 |
| UNM Unum Group | Add +23.3% | 0.11% | +0.04 |
| ETSY Etsy Inc. | Add +703.8% | 0.04% | +0.04 |
| STT State Street Corp. | Add +82.8% | 0.07% | +0.04 |
Notes & Other Activity Q3 2024 → Q4 2024
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Reduce -4.9% | 45,572,000 | $120.3M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -0.1% | 1,240,938 | $107.8M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Reduce -0.7% | 90,039,000 | $89.4M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -0.2% | 72,745 | $88.7M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -0.6% | 88,349,000 | $85.5M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -0.0% | 70,554 | $84.3M |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | Add +1.0% | 90,743,000 | $81.4M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -14.3% | 75,241,000 | $77.4M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -0.3% | 71,760,000 | $73.6M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Reduce -22.4% | 1,714,981 | $70.2M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -0.3% | 57,625,000 | $60.1M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Reduce -0.7% | 51,839,000 | $59.0M |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | Reduce -37.1% | 52,910,000 | $52.3M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -0.3% | 52,339,000 | $51.7M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | New | 932,141 | $51.3M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +3.7% | 48,305,000 | $50.8M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 38,975,000 | $43.0M |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Reduce -0.4% | 37,411,000 | $37.8M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Reduce -0.4% | 31,589,000 | $32.4M |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Reduce -0.2% | 28,161,000 | $29.2M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Reduce -1.1% | 27,303,000 | $28.9M |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | Reduce -52.1% | 13,159,000 | $26.9M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Add +51.0% | 21,345,000 | $21.5M |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | Reduce -1.6% | 18,863,000 | $21.1M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -3.5% | 15,795,000 | $20.7M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -3.3% | 16,658,000 | $15.5M |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | New | 301,000 | $13.7M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Reduce -2.4% | 13,090,000 | $12.6M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Reduce -3.6% | 13,742,000 | $12.3M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Reduce -7.7% | 11,980,000 | $11.6M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) | NOTE 2.250% 6/1 · principal | Reduce -14.6% | 10,738,000 | $10.5M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +52.5% | 238,926 | $9.7M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | New | 151,784 | $9.2M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -1.0% | 5,851,000 | $7.1M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Add +165.6% | 95,604 | $4.7M |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Reduce -1.5% | 4,025,000 | $4.0M |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | Reduce -52.1% | 2,351,000 | $2.3M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | New | 1,500,000 | $1.6M |
| WINNEBAGO INDUSTRIES (WGO 1.5 04/01/25) | NOTE 1.500% 4/0 · principal | Reduce -5.6% | 1,000,000 | $973K |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Reduce -61.6% | 25,845 | $970K |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25) | NOTE 1.250% 3/1 · principal | Sold out | 62,000 | $99Kbefore exit |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | Sold out | 23,000 | $26Kbefore exit |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | Reduce -0.3% | 58,551 | $13K |
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 | 2,441 | $176.8B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q1 2026 | 2,373 | $154.7B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 2,381 | $175.6B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025 | 2,373 | $169.3B | QCOM, NVDA, MSFT, AAPL, AMZN |
| Q2 2025 | 2,434 | $153.4B | MSFT, NVDA, AMZN, AAPL, GOOGL |
| Q1 2025 | 2,428 | $96.1B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 2,425 | $100.1B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 2,440 | $102.2B | AAPL, MSFT, NVDA, META, AMZN |
| Q2 2024 | 2,433 | $98.1B | MSFT, NVDA, AAPL, AMZN, META |
| Q1 2024 | 2,434 | $100.7B | MSFT, NVDA, AAPL, AMZN, META |