Victory Capital Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), Victory Capital Management Inc. reported 2,428 stock positions worth $96.1 billion. Its top holding was Apple (AAPL) at 2.6% of the portfolio, followed by Nvidia (NVDA, 2.2%) and Microsoft (MSFT, 2.2%). Compared with Q4 2024, it opened 80 new positions, sold out of 79, added to 1,078 and reduced 1,200. The biggest buy was a new position in iShares MSCI Emr MRK Ex Chna (EMXC) and the biggest sale Nvidia (NVDA, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- San Antonio, TX
- CIK
- 0001040188
- Portfolio Value
- $96.1B (Q1 2025)
- SEC Filing
- 0001040188-25-000032 ↗ filed May 2, 2025
Holdings Value
Holdings 2,428 stocks · $96.1B
| AAPL Apple Inc. | 2.59% | 11,218,983 | $2.5B | Reduce -2.2% |
| NVDA Nvidia Corp. | 2.19% | 19,440,210 | $2.1B | Reduce -2.5% |
| MSFT Microsoft Corp. | 2.19% | 5,596,392 | $2.1B | Reduce -2.7% |
| AMZN Amazon.com Inc. | 1.40% | 7,090,193 | $1.3B | Reduce -1.1% |
| META Meta Platforms Inc. Class A | 1.21% | 2,016,443 | $1.2B | Reduce -2.8% |
| UITB Victoryshares Core Intermedi | 0.88% | 18,072,145 | $848.3M | Reduce -1.2% |
| GOOG Alphabet Inc. Class C | 0.88% | 5,400,445 | $843.7M | Reduce -2.7% |
| LNT Alliant Energy Corp. | 0.71% | 10,590,100 | $681.5M | Reduce -2.0% |
| AVGO Broadcom Inc. | 0.66% | 3,784,579 | $633.7M | Reduce -11.1% |
| USFD US Foods Holding Corp. | 0.65% | 9,568,121 | $626.3M | Reduce -5.0% |
| JPM JPMorgan Chase & Co. | 0.63% | 2,476,264 | $607.4M | Reduce -7.7% |
| EXPE Expedia Group Inc. | 0.59% | 3,385,596 | $569.1M | Add +27.8% |
| GOOGL Alphabet Inc. Class A | 0.58% | 3,598,033 | $556.4M | Add +1.0% |
| HIG Hartford Insurance Group Inc. | 0.57% | 4,459,632 | $551.8M | Reduce -5.2% |
| CTRA Coterra Energy Inc. | 0.57% | 18,828,688 | $544.1M | Add +5.7% |
| LLY Eli Lilly & Co. | 0.56% | 655,913 | $541.7M | Reduce -3.2% |
| FNF Fidelity National Financial | 0.56% | 8,214,280 | $534.6M | Add +1.5% |
| CPT Camden Property Trust | 0.55% | 4,341,279 | $530.9M | Reduce -1.4% |
| DGX Quest Diagnostics Inc. | 0.55% | 3,133,527 | $530.2M | Reduce -6.7% |
| XOM Exxon Mobil Corp. | 0.53% | 4,249,214 | $505.4M | Add +5.9% |
| TSLA Tesla Inc. | 0.52% | 1,925,533 | $499.0M | Reduce -7.7% |
| WTW Willis Towers Watson PLC | 0.51% | 1,455,758 | $492.0M | Reduce -26.1% |
| BKR Baker Hughes Co. | 0.51% | 11,165,010 | $490.7M | Reduce -20.5% |
| PFGC Performance Food Group Co. | 0.51% | 6,229,169 | $489.8M | Add +59.3% |
| G Genpact Ltd. | 0.51% | 9,692,244 | $488.3M | Reduce -1.6% |
| NFLX Netflix Inc. | 0.50% | 518,029 | $483.1M | Add +0.1% |
| JNJ Johnson & Johnson | 0.50% | 2,896,564 | $480.4M | Add +16.6% |
| CCK Crown Holdings Inc. | 0.49% | 5,248,943 | $468.5M | Reduce -9.2% |
| AWK American Water Works Co. Inc. | 0.49% | 3,175,135 | $468.4M | Add +0.0% |
| NNN NNN REIT Inc. | 0.46% | 10,323,835 | $440.3M | Reduce -11.8% |
| SBAC SBA Communications Corp. | 0.45% | 1,986,133 | $437.0M | Add +11.5% |
| DVN Devon Energy Corp. | 0.45% | 11,518,862 | $430.8M | Add +12.9% |
| HOLX Hologic Inc. | 0.42% | 6,609,728 | $408.3M | Add +34.4% |
| V Visa Inc. Class A | 0.42% | 1,150,234 | $403.1M | Reduce -3.2% |
| MRK Merck & Co. Inc. | 0.42% | 4,467,000 | $401.0M | Add +33.5% |
| FNV Franco-Nevada Corp. | 0.42% | 2,538,935 | $400.0M | Reduce -25.8% |
| ORI Old Republic Intl Corp. | 0.41% | 9,972,832 | $391.1M | Reduce -0.6% |
| WLK Westlake Corp. | 0.41% | 3,900,025 | $390.1M | Add +17.7% |
| COO The Cooper Cos Inc. | 0.40% | 4,519,264 | $381.2M | Reduce -0.1% |
| LAMR Lamar Advertising Co. Class A | 0.39% | 3,327,634 | $378.6M | Reduce -3.0% |
| CSCO Cisco Systems Inc. | 0.38% | 5,975,676 | $368.8M | Reduce -13.9% |
| UNH Unitedhealth Group Inc. | 0.38% | 703,785 | $368.6M | Add +12.1% |
| AXTA Axalta Coating Systems Ltd. | 0.38% | 11,068,101 | $367.1M | Reduce -2.2% |
| KNX Knight-Swift Transportation | 0.38% | 8,344,372 | $362.9M | Add +4.6% |
| HBAN Huntington Bancshares Inc. | 0.37% | 23,828,775 | $357.7M | Add +9.2% |
| ELS Equity Lifestyle Properties | 0.37% | 5,330,066 | $355.5M | Add +15.1% |
| TRMB Trimble Inc. | 0.37% | 5,398,084 | $354.4M | Reduce -4.7% |
| QCOM Qualcomm Inc. | 0.37% | 2,284,267 | $350.9M | Add +9.6% |
| COST Costco Wholesale Corp. | 0.36% | 362,772 | $343.1M | Reduce -2.5% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.35% | 4,362,111 | $340.9M | Reduce -2.8% |
| MIDD Middleby Corp. | 0.35% | 2,236,374 | $339.9M | Reduce -20.2% |
| TXT Textron Inc. | 0.35% | 4,690,417 | $338.9M | Reduce -3.2% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.35% | 2,946,356 | $336.2M | Reduce -44.3% |
| ZBRA Zebra Technologies Corp. Class A | 0.35% | 1,183,710 | $334.5M | Add +27.5% |
| RPM RPM International Inc. | 0.35% | 2,882,249 | $333.4M | Reduce -1.3% |
| ATR Aptargroup Inc. | 0.34% | 2,219,191 | $329.3M | Add +12.6% |
| PEP Pepsico Inc. | 0.34% | 2,192,523 | $328.7M | Add +2.8% |
| EBAY eBay Inc. | 0.34% | 4,782,473 | $323.9M | Reduce -19.4% |
| CHRD Chord Energy Corp. | 0.34% | 2,866,080 | $323.1M | Add +0.1% |
| ROST Ross Stores Inc. | 0.33% | 2,502,459 | $319.8M | Reduce -30.1% |
| PFG Principal Financial Group | 0.33% | 3,707,534 | $312.8M | Add +802.2% |
| AFG American Financial Group Inc. | 0.32% | 2,369,886 | $311.3M | Reduce -29.3% |
| CVX Chevron Corp. | 0.32% | 1,859,513 | $311.1M | Add +23.9% |
| AGCO Agco Corp. | 0.32% | 3,331,137 | $308.4M | Reduce -2.8% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.32% | 2,064,164 | $305.4M | Reduce -2.4% |
| ABBV Abbvie Inc. | 0.31% | 1,429,395 | $299.5M | Reduce -24.2% |
| KEYS Keysight Technologies Inc. | 0.31% | 1,991,884 | $298.3M | Add +1224.5% |
| CHKP Check Point Software Tech | 0.31% | 1,304,551 | $297.3M | Add +2704.5% |
| BMY Bristol-Myers Squibb Co. | 0.31% | 4,863,020 | $296.6M | Add +69.2% |
| PB Prosperity Bancshares Inc. | 0.31% | 4,153,840 | $296.5M | Reduce -30.7% |
| AMGN Amgen Inc. | 0.31% | 950,893 | $296.3M | Add +15.4% |
| CART Maplebear Inc. | 0.31% | 7,368,232 | $293.9M | Add +62.8% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.30% | 5,316,622 | $292.9M | New |
| PKG Packaging Corp. of America | 0.30% | 1,456,753 | $288.5M | Reduce -8.6% |
| MA Mastercard Inc. Class A | 0.30% | 525,876 | $288.2M | Add +0.0% |
| AKAM Akamai Technologies Inc. | 0.30% | 3,559,183 | $286.5M | Reduce -2.5% |
| CARR Carrier Global Corp. | 0.30% | 4,512,774 | $286.1M | Add +23.5% |
| XEL Xcel Energy Inc. | 0.29% | 3,991,391 | $282.6M | Reduce -21.7% |
| AVY Avery Dennison Corp. | 0.29% | 1,582,933 | $281.7M | Add +17.3% |
| XYL Xylem Inc. | 0.29% | 2,341,764 | $279.7M | Add +0.7% |
| RRX Regal Rexnord Corp. | 0.29% | 2,436,848 | $277.4M | Add +11.9% |
| GILD Gilead Sciences Inc. | 0.29% | 2,471,017 | $276.9M | Reduce -19.0% |
| VEA Vanguard Ftse Developed ETF | 0.29% | 5,417,005 | $275.3M | Reduce -7.5% |
| BWA Borgwarner Inc. | 0.29% | 9,602,886 | $275.1M | Reduce -21.2% |
| TFC Truist Financial Corp. | 0.29% | 6,664,320 | $274.2M | Add +922.9% |
| MKSI MKS Inc. filed as MKS INSTRS INC | 0.28% | 3,388,639 | $271.6M | Add +9.7% |
| USTB Victoryshares Short-Term Bon | 0.28% | 5,311,308 | $269.0M | Add +3.7% |
| RJF Raymond James Financial Inc. | 0.27% | 1,883,139 | $261.6M | Add +1502.0% |
| TRU Transunion | 0.27% | 3,146,693 | $261.1M | Add +15.3% |
| LECO Lincoln Electric Holdings | 0.27% | 1,351,223 | $255.6M | Add +16.2% |
| PG The Procter & Gamble Co. | 0.27% | 1,498,407 | $255.4M | Reduce -1.2% |
| FCN Fti Consulting Inc. | 0.26% | 1,549,781 | $254.3M | Add +11.0% |
| LSTR Landstar System Inc. | 0.26% | 1,654,910 | $248.6M | Add +2.1% |
| CI The Cigna Group | 0.26% | 750,948 | $247.1M | Add +38.0% |
| GPK Graphic Packaging Holding Co. | 0.25% | 9,240,697 | $239.9M | Add +1004.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.24% | 433,287 | $230.8M | Reduce -3.3% |
| MCK McKesson Corp. | 0.24% | 342,352 | $230.4M | Add +28.9% |
| UBND Victoryshares Core Plus Bond | 0.24% | 10,516,523 | $229.3M | No change |
| STLD Steel Dynamics Inc. | 0.24% | 1,816,525 | $227.2M | Add +433.1% |
| ON On Semiconductor | 0.24% | 5,563,728 | $226.4M | Add +5.5% |
Other holdings (42): bonds, preferreds, convertibles and warrants · $1.7B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 74,394 | $91.8M | Add +2.3% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 1,242,727 | $90.8M | Add +0.1% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 91,294,000 | $90.0M | Add +1.4% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 89,588,000 | $87.7M | Add +1.4% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 72,087 | $86.6M | Add +2.2% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 93,511,000 | $84.3M | Add +3.0% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 72,653,000 | $78.7M | Add +1.2% |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 28,614,000 | $70.2M | Reduce -37.2% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 53,535,000 | $68.9M | Add +3.3% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 66,696,000 | $66.5M | Reduce -11.4% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 54,346,000 | $66.1M | Add +39.4% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 58,179,000 | $65.2M | Add +1.0% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 1,484,788 | $60.3M | Reduce -13.4% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 1,225,018 | $59.1M | Add +31.4% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 49,172,000 | $54.8M | Add +1.8% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 58,090,000 | $54.7M | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 52,772,000 | $54.1M | Add +0.8% |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 37,766,000 | $38.2M | Add +0.9% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 38,945,000 | $34.4M | Add +52.3% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 31,920,000 | $34.2M | Add +1.1% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 28,520,000 | $31.6M | Add +1.3% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 19,497,000 | $23.5M | Add +3.4% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 21,300,000 | $23.1M | No change |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 410,102 | $20.3M | New |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 20,201,000 | $19.0M | Add +21.3% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 19,526,000 | $18.6M | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 374,436 | $17.9M | Add +291.6% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 15,135,000 | $17.8M | Add +909.0% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 16,572,000 | $17.5M | Add +4.9% |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | 13,122,000 | $17.3M | Reduce -0.3% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 301,000 | $13.7M | No change |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 13,650,000 | $13.3M | Add +4.3% |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 13,400,000 | $13.1M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 14,517,000 | $12.9M | Add +5.6% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 11,980,000 | $11.7M | No change |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 12,480,000 | $11.0M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 10,530,000 | $10.5M | Reduce -61.4% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 156,233 | $9.3M | Add +2.9% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 242,487 | $8.6M | Add +1.5% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 7,940,000 | $7.9M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 6,004,000 | $7.3M | Add +2.6% |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | 58,111 | $9K | Reduce -0.8% |
Total filed on the 13F, all lines: $97.7B.
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -2.5% | 2.19% | −0.48 |
| TGT Target Corp. | Reduce -86.4% | 0.04% | −0.35 |
| AVGO Broadcom Inc. | Reduce -11.1% | 0.66% | −0.33 |
| TSLA Tesla Inc. | Reduce -7.7% | 0.52% | −0.32 |
| TROW T Rowe Price Group Inc. | Reduce -87.0% | 0.04% | −0.30 |
| SW Smurfit Westrock PLC | Reduce -97.4% | 0.01% | −0.29 |
| AAPL Apple Inc. | Reduce -2.2% | 2.59% | −0.28 |
| MSFT Microsoft Corp. | Reduce -2.7% | 2.19% | −0.24 |
| ICLR Icon PLC | Sold out | 0.00% | −0.22 |
| GPN Global Payments Inc. | Reduce -95.0% | 0.01% | −0.22 |
| ROST Ross Stores Inc. | Reduce -30.1% | 0.33% | −0.21 |
| ARE Alexandria Real Estate Equit | Reduce -82.6% | 0.04% | −0.19 |
| LINE Lineage Inc. | Reduce -99.7% | 0.00% | −0.18 |
| GOOG Alphabet Inc. Class C | Reduce -2.7% | 0.88% | −0.18 |
| AMZN Amazon.com Inc. | Reduce -1.1% | 1.40% | −0.17 |
| PB Prosperity Bancshares Inc. | Reduce -30.7% | 0.31% | −0.14 |
| A Agilent Technologies Inc. | Reduce -44.1% | 0.15% | −0.14 |
| AFG American Financial Group Inc. | Reduce -29.3% | 0.32% | −0.13 |
| FLEX Flex Ltd. | Reduce -58.4% | 0.08% | −0.13 |
| BJ Bj's Wholesale Club Holdings | Reduce -44.3% | 0.35% | −0.12 |
| BNY Bank of New York Mellon Corp. | Reduce -67.3% | 0.07% | −0.12 |
| WTW Willis Towers Watson PLC | Reduce -26.1% | 0.51% | −0.10 |
| TTD Trade Desk Inc./the Class A | Reduce -29.5% | 0.05% | −0.10 |
| BWA Borgwarner Inc. | Reduce -21.2% | 0.29% | −0.10 |
| MSI Motorola Solutions Inc. | Reduce -44.4% | 0.12% | −0.10 |
| CDP Copt Defense Properties | Reduce -75.5% | 0.02% | −0.08 |
| SAIA Saia Inc. | Reduce -97.3% | 0.00% | −0.08 |
| VOO Vanguard S&P 500 ETF | Reduce -50.3% | 0.08% | −0.08 |
| INFY Infosys Ltd.-SP ADR | Reduce -64.8% | 0.03% | −0.07 |
| IWM iShares Russell 2000 ETF | Reduce -97.3% | 0.00% | −0.07 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -63.5% | 0.04% | −0.07 |
| BKR Baker Hughes Co. | Reduce -20.5% | 0.51% | −0.07 |
| UPS United Parcel Service Class B | Reduce -41.5% | 0.07% | −0.06 |
| HD Home Depot Inc. | Reduce -23.6% | 0.19% | −0.06 |
| PVH PVH Corp. | Reduce -75.5% | 0.01% | −0.06 |
| ANET Arista Networks Inc. | Reduce -9.5% | 0.12% | −0.06 |
| DIOD Diodes Inc. | Reduce -32.3% | 0.06% | −0.06 |
| GS Goldman Sachs Group Inc. | Reduce -25.0% | 0.17% | −0.06 |
| TKO Tko Group Holdings Inc. | Reduce -92.5% | 0.01% | −0.06 |
| PKG Packaging Corp. of America | Reduce -8.6% | 0.30% | −0.06 |
| KTB Kontoor Brands Inc. | Reduce -74.1% | 0.01% | −0.06 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −0.06 |
| FTDR Frontdoor Inc. | Reduce -92.1% | 0.00% | −0.05 |
| WFC Wells Fargo & Co. | Reduce -42.5% | 0.08% | −0.05 |
| NOW ServiceNow Inc. | Reduce -2.9% | 0.17% | −0.05 |
| VICTORY PORTFOLIOS II | Reduce -63.0% | 0.03% | −0.05 |
| AKAM Akamai Technologies Inc. | Reduce -2.5% | 0.30% | −0.05 |
| ITGR Integer Holdings Corp. | Reduce -72.1% | 0.02% | −0.05 |
| VRNT Verint Systems Inc. | Reduce -39.0% | 0.04% | −0.05 |
| XEL Xcel Energy Inc. | Reduce -21.7% | 0.29% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| EMXC iShares MSCI Emr MRK Ex Chna | New | 0.30% | +0.30 |
| CHKP Check Point Software Tech | Add +2704.5% | 0.31% | +0.30 |
| PFG Principal Financial Group | Add +802.2% | 0.33% | +0.29 |
| KEYS Keysight Technologies Inc. | Add +1224.5% | 0.31% | +0.29 |
| TFC Truist Financial Corp. | Add +922.9% | 0.29% | +0.26 |
| RJF Raymond James Financial Inc. | Add +1502.0% | 0.27% | +0.25 |
| SKX Skechers USA Inc. Class A | Add +15774.3% | 0.23% | +0.23 |
| GPK Graphic Packaging Holding Co. | Add +1004.9% | 0.25% | +0.23 |
| BBWI Bath & Body Works Inc. | Add +14732.0% | 0.21% | +0.21 |
| STLD Steel Dynamics Inc. | Add +433.1% | 0.24% | +0.20 |
| PRMB Primo Brands Corp. | New | 0.19% | +0.19 |
| PFGC Performance Food Group Co. | Add +59.3% | 0.51% | +0.18 |
| BMY Bristol-Myers Squibb Co. | Add +69.2% | 0.31% | +0.15 |
| JNJ Johnson & Johnson | Add +16.6% | 0.50% | +0.14 |
| GFLW VS Free Cash Flow Growth ETF | Add +279.7% | 0.17% | +0.12 |
| CART Maplebear Inc. | Add +62.8% | 0.31% | +0.12 |
| DVN Devon Energy Corp. | Add +12.9% | 0.45% | +0.11 |
| CTRA Coterra Energy Inc. | Add +5.7% | 0.57% | +0.11 |
| CI The Cigna Group | Add +38.0% | 0.26% | +0.11 |
| CVX Chevron Corp. | Add +23.9% | 0.32% | +0.11 |
| VGK Vanguard Ftse Europe ETF | New | 0.10% | +0.10 |
| FNF Fidelity National Financial | Add +1.5% | 0.56% | +0.10 |
| EXPE Expedia Group Inc. | Add +27.8% | 0.59% | +0.10 |
| XOM Exxon Mobil Corp. | Add +5.9% | 0.53% | +0.09 |
| VWO Vanguard Ftse Emerging Marke | Add +767.3% | 0.11% | +0.09 |
| AMGN Amgen Inc. | Add +15.4% | 0.31% | +0.09 |
| AWK American Water Works Co. Inc. | Add +0.0% | 0.49% | +0.09 |
| RPRX Royalty Pharma PLC Class A | Add +270.4% | 0.12% | +0.09 |
| SBAC SBA Communications Corp. | Add +11.5% | 0.45% | +0.09 |
| MCK McKesson Corp. | Add +28.9% | 0.24% | +0.09 |
| MRK Merck & Co. Inc. | Add +33.5% | 0.42% | +0.08 |
| VZ Verizon Communications Inc. | Add +59.4% | 0.16% | +0.08 |
| LEN Lennar Corp. Class A | Add +152.1% | 0.14% | +0.08 |
| TKR Timken Co. | Add +108.8% | 0.14% | +0.07 |
| HOLX Hologic Inc. | Add +34.4% | 0.42% | +0.07 |
| UAL United Airlines Holdings Inc. | Add +783.1% | 0.08% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +12.1% | 0.38% | +0.07 |
| FANG Diamondback Energy Inc. | Add +50.6% | 0.19% | +0.07 |
| ELS Equity Lifestyle Properties | Add +15.1% | 0.37% | +0.06 |
| TOL Toll Brothers Inc. | Add +149.5% | 0.11% | +0.06 |
| MSGS Madison Square Garden Sports | Add +523.2% | 0.07% | +0.06 |
| NVST Envista Holdings Corp. | Add +161.3% | 0.10% | +0.06 |
| ZM Zoom Communications Inc. | Add +119.5% | 0.11% | +0.06 |
| LDOS Leidos Holdings Inc. | Add +130.3% | 0.10% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +150.6% | 0.09% | +0.05 |
| MCD McDonald's Corp. | Add +30.1% | 0.17% | +0.05 |
| ESNT Essent Group Ltd. | Add +1272.6% | 0.06% | +0.05 |
| SLB SLB Ltd. | Add +79.0% | 0.10% | +0.05 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 0.05% | +0.05 |
| MSM MSC Industrial Direct Co. Class A | Add +445.4% | 0.06% | +0.05 |
Notes & Other Activity Q4 2024 → Q1 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +2.3% | 74,394 | $91.8M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +0.1% | 1,242,727 | $90.8M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +1.4% | 91,294,000 | $90.0M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +1.4% | 89,588,000 | $87.7M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +2.2% | 72,087 | $86.6M |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | Add +3.0% | 93,511,000 | $84.3M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +1.2% | 72,653,000 | $78.7M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Reduce -37.2% | 28,614,000 | $70.2M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Add +3.3% | 53,535,000 | $68.9M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -11.4% | 66,696,000 | $66.5M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +39.4% | 54,346,000 | $66.1M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Add +1.0% | 58,179,000 | $65.2M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Reduce -13.4% | 1,484,788 | $60.3M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Add +31.4% | 1,225,018 | $59.1M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +1.8% | 49,172,000 | $54.8M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | New | 58,090,000 | $54.7M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Add +0.8% | 52,772,000 | $54.1M |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | Sold out | 52,910,000 | $52.3Mbefore exit |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Add +0.9% | 37,766,000 | $38.2M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Add +52.3% | 38,945,000 | $34.4M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +1.1% | 31,920,000 | $34.2M |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Add +1.3% | 28,520,000 | $31.6M |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | Add +3.4% | 19,497,000 | $23.5M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Sold out | 21,345,000 | $21.5Mbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | New | 410,102 | $20.3M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Add +21.3% | 20,201,000 | $19.0M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | New | 19,526,000 | $18.6M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Add +291.6% | 374,436 | $17.9M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Add +909.0% | 15,135,000 | $17.8M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Add +4.9% | 16,572,000 | $17.5M |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | Reduce -0.3% | 13,122,000 | $17.3M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Add +4.3% | 13,650,000 | $13.3M |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | New | 13,400,000 | $13.1M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +5.6% | 14,517,000 | $12.9M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Reduce -61.4% | 10,530,000 | $10.5M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) | NOTE 2.250% 6/1 · principal | Sold out | 10,738,000 | $10.5Mbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +2.9% | 156,233 | $9.3M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +1.5% | 242,487 | $8.6M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | New | 7,940,000 | $7.9M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +2.6% | 6,004,000 | $7.3M |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Sold out | 4,025,000 | $4.0Mbefore exit |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | Sold out | 2,351,000 | $2.3Mbefore exit |
| WINNEBAGO INDUSTRIES (WGO 1.5 04/01/25) | NOTE 1.500% 4/0 · principal | Sold out | 1,000,000 | $973Kbefore exit |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Sold out | 25,845 | $970Kbefore exit |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | Reduce -0.8% | 58,111 | $9K |
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 |