Victory Capital Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Victory Capital Management Inc. reported 2,434 stock positions worth $153.4 billion. Its top holding was Microsoft (MSFT) at 3.6% of the portfolio, followed by Nvidia (NVDA, 3.5%) and Amazon.com (AMZN, 2.8%). Compared with Q1 2025, it opened 106 new positions, sold out of 101, added to 1,174 and reduced 1,100. The biggest buy was Microsoft (MSFT, shares +100%) and the biggest sale Victoryshares Core Intermedi (UITB, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- San Antonio, TX
- CIK
- 0001040188
- Portfolio Value
- $153.4B (Q2 2025)
- SEC Filing
- 0001040188-25-000057 ↗ filed Aug 13, 2025
Holdings Value
Holdings 2,434 stocks · $153.4B
| MSFT Microsoft Corp. | 3.62% | 11,185,066 | $5.6B | Add +99.9% |
| NVDA Nvidia Corp. | 3.46% | 33,641,781 | $5.3B | Add +73.0% |
| AMZN Amazon.com Inc. | 2.80% | 19,584,323 | $4.3B | Add +176.2% |
| AAPL Apple Inc. | 2.56% | 19,007,062 | $3.9B | Add +69.4% |
| GOOGL Alphabet Inc. Class A | 1.21% | 10,497,083 | $1.9B | Add +191.8% |
| AVGO Broadcom Inc. | 1.16% | 6,461,529 | $1.8B | Add +70.7% |
| META Meta Platforms Inc. Class A | 1.04% | 2,152,417 | $1.6B | Add +6.7% |
| ORCL Oracle Corp. | 0.98% | 6,792,722 | $1.5B | Add +683.5% |
| UBER Uber Technologies Inc. | 0.94% | 15,509,844 | $1.4B | Add +1095.9% |
| TFC Truist Financial Corp. | 0.90% | 31,612,808 | $1.4B | Add +374.4% |
| V Visa Inc. Class A | 0.89% | 3,854,097 | $1.4B | Add +235.1% |
| GOOG Alphabet Inc. Class C | 0.84% | 7,301,459 | $1.3B | Add +35.2% |
| AMD Advanced Micro Devices | 0.84% | 9,096,717 | $1.3B | Add +651.5% |
| LLY Eli Lilly & Co. | 0.79% | 1,564,138 | $1.2B | Add +138.5% |
| CSCO Cisco Systems Inc. | 0.77% | 17,152,165 | $1.2B | Add +187.0% |
| MA Mastercard Inc. Class A | 0.73% | 1,979,762 | $1.1B | Add +276.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.67% | 3,525,069 | $1.0B | Add +1062.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.63% | 2,155,164 | $967.8M | Add +633.3% |
| MLM Martin Marietta Materials | 0.59% | 1,643,803 | $910.2M | Add +4505.1% |
| FCX Freeport-McMoran Inc. | 0.57% | 19,510,582 | $869.2M | Add +3404.6% |
| APH Amphenol Corp. Class A | 0.55% | 8,557,635 | $844.7M | Add +726.7% |
| INTU Intuit Inc. | 0.53% | 1,027,284 | $807.1M | Add +273.4% |
| NFLX Netflix Inc. | 0.51% | 587,806 | $787.1M | Add +13.5% |
| GS Goldman Sachs Group Inc. | 0.50% | 1,086,290 | $772.3M | Add +255.1% |
| BKNG Booking Holdings Inc. | 0.50% | 133,545 | $771.7M | Add +200.5% |
| HD Home Depot Inc. | 0.50% | 2,081,813 | $765.9M | Add +327.3% |
| MCHP Microchip Technology Inc. | 0.50% | 10,790,149 | $763.0M | Add +1690.1% |
| ISRG Intuitive Surgical Inc. | 0.49% | 1,373,827 | $746.0M | Add +219.1% |
| PWR Quanta Services Inc. | 0.49% | 1,982,495 | $745.4M | Add +454.9% |
| UPS United Parcel Service Class B | 0.49% | 7,230,273 | $744.2M | Add +1039.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.48% | 15,502,651 | $742.1M | Add +288.0% |
| NOW ServiceNow Inc. | 0.46% | 692,459 | $710.2M | Add +243.1% |
| UITB Victoryshares Core Intermedi | 0.45% | 14,727,145 | $693.2M | Reduce -18.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.44% | 5,464,825 | $676.7M | Add +698.6% |
| JPM JPMorgan Chase & Co. | 0.43% | 2,298,435 | $666.9M | Reduce -7.2% |
| CRM Salesforce Inc. | 0.43% | 2,414,946 | $657.2M | Add +377.2% |
| JNJ Johnson & Johnson | 0.42% | 4,216,915 | $646.0M | Add +45.6% |
| USFD US Foods Holding Corp. | 0.42% | 8,304,675 | $639.5M | Reduce -13.2% |
| GEV GE Vernova Inc. | 0.41% | 1,205,444 | $625.9M | Add +729.1% |
| PINS Pinterest Inc. Class A | 0.41% | 17,337,001 | $621.4M | Add +4827.4% |
| TSLA Tesla Inc. | 0.40% | 1,942,559 | $617.1M | Add +0.9% |
| EXPE Expedia Group Inc. | 0.40% | 3,618,333 | $610.3M | Add +6.9% |
| LNT Alliant Energy Corp. | 0.39% | 9,983,396 | $603.7M | Reduce -5.7% |
| ICE Intercontinental Exchange Inc. | 0.39% | 3,239,734 | $593.4M | Add +1459.9% |
| AMAT Applied Materials Inc. | 0.39% | 3,181,474 | $590.6M | Add +126.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.38% | 4,744,440 | $587.3M | Add +403.5% |
| LH Labcorp Holdings Inc. | 0.38% | 2,197,126 | $575.7M | Add +3588.6% |
| NRG NRG Energy Inc. | 0.37% | 3,603,473 | $571.9M | Add +263.0% |
| ETN Eaton Corp. PLC | 0.37% | 1,589,632 | $567.8M | Add +444.3% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.36% | 5,138,714 | $557.0M | Add +74.4% |
| ORLY O'reilly Automotive Inc. | 0.36% | 6,169,763 | $555.2M | Add +381.7% |
| VRT Vertiv Holdings Co. Class A | 0.36% | 4,358,013 | $553.7M | Add +424.9% |
| PFGC Performance Food Group Co. | 0.35% | 6,226,327 | $544.6M | Reduce -0.1% |
| USB US Bancorp | 0.35% | 11,554,199 | $534.8M | Add +1481.4% |
| CTRA Coterra Energy Inc. | 0.35% | 21,047,677 | $534.2M | Add +11.8% |
| KLAC KLA Corp. | 0.34% | 581,447 | $526.5M | Add +245.8% |
| ACN Accenture PLC Class A | 0.34% | 1,728,827 | $518.8M | Add +438.4% |
| ROST Ross Stores Inc. | 0.33% | 3,989,050 | $511.0M | Add +59.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.33% | 637,501 | $510.7M | Add +1491.4% |
| DGX Quest Diagnostics Inc. | 0.33% | 2,809,226 | $504.6M | Reduce -10.3% |
| STT State Street Corp. | 0.33% | 4,687,068 | $504.3M | Add +789.9% |
| FNF Fidelity National Financial | 0.33% | 8,910,701 | $499.5M | Add +8.5% |
| CCK Crown Holdings Inc. | 0.32% | 4,839,157 | $498.3M | Reduce -7.8% |
| HBAN Huntington Bancshares Inc. | 0.32% | 29,590,686 | $497.6M | Add +24.2% |
| CPT Camden Property Trust | 0.32% | 4,348,047 | $490.0M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.32% | 4,529,852 | $489.7M | Add +6.6% |
| TECK Teck Resources Ltd.-CLS B | 0.32% | 11,862,579 | $486.8M | New |
| WTW Willis Towers Watson PLC | 0.31% | 1,571,945 | $481.6M | Add +8.0% |
| KKR KKR & Co. Inc. | 0.31% | 3,577,790 | $478.6M | Add +1599.1% |
| KEYS Keysight Technologies Inc. | 0.30% | 2,783,900 | $456.3M | Add +39.8% |
| QCOM Qualcomm Inc. | 0.29% | 2,797,885 | $446.2M | Add +22.5% |
| BKR Baker Hughes Co. | 0.29% | 11,434,934 | $438.8M | Add +2.4% |
| HIG Hartford Insurance Group Inc. | 0.29% | 3,456,783 | $438.6M | Reduce -22.5% |
| G Genpact Ltd. | 0.28% | 9,923,391 | $436.7M | Add +2.4% |
| RJF Raymond James Financial Inc. | 0.28% | 2,839,373 | $435.7M | Add +50.8% |
| AWK American Water Works Co. Inc. | 0.28% | 3,102,105 | $431.5M | Reduce -2.3% |
| SNPS Synopsys Inc. | 0.28% | 833,741 | $428.8M | Add +287.8% |
| TRMB Trimble Inc. | 0.27% | 5,548,559 | $421.6M | Add +2.8% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.27% | 4,533,720 | $417.1M | Add +3.9% |
| NNN NNN REIT Inc. | 0.27% | 9,469,430 | $408.9M | Reduce -8.3% |
| LNG Cheniere Energy Inc. | 0.26% | 1,666,486 | $404.3M | Add +1477.3% |
| CART Maplebear Inc. | 0.26% | 8,827,467 | $399.4M | Add +19.8% |
| LAMR Lamar Advertising Co. Class A | 0.26% | 3,231,157 | $392.1M | Reduce -2.9% |
| ORI Old Republic Intl Corp. | 0.26% | 10,177,486 | $391.2M | Add +2.0% |
| BBWI Bath & Body Works Inc. | 0.25% | 13,036,269 | $390.6M | Add +91.8% |
| ADSK Autodesk Inc. | 0.25% | 1,240,891 | $384.4M | Add +300.8% |
| MKSI MKS Inc. | 0.25% | 3,866,182 | $384.2M | Add +14.1% |
| SBAC SBA Communications Corp. | 0.25% | 1,630,163 | $382.8M | Reduce -17.9% |
| XYL Xylem Inc. | 0.24% | 2,880,556 | $372.6M | Add +23.0% |
| KNX Knight-Swift Transportation | 0.24% | 8,419,795 | $372.4M | Add +0.9% |
| PFE Pfizer Inc. | 0.24% | 15,115,367 | $371.6M | Add +220.6% |
| LECO Lincoln Electric Holdings | 0.24% | 1,777,990 | $368.6M | Add +31.6% |
| TXT Textron Inc. | 0.24% | 4,566,475 | $366.6M | Reduce -2.6% |
| UNH Unitedhealth Group Inc. | 0.23% | 1,154,308 | $360.1M | Add +64.0% |
| DVN Devon Energy Corp. | 0.23% | 11,285,306 | $359.0M | Reduce -2.0% |
| HOLX Hologic Inc. | 0.23% | 5,498,909 | $358.3M | Reduce -16.8% |
| CMS CMS Energy Corp. | 0.23% | 5,150,344 | $356.9M | Add +847.1% |
| MRK Merck & Co. Inc. | 0.23% | 4,432,168 | $350.9M | Reduce -0.8% |
| CHKP Check Point Software Tech | 0.23% | 1,581,511 | $349.9M | Add +21.2% |
| ATR Aptargroup Inc. | 0.23% | 2,226,776 | $348.3M | Add +0.3% |
Other holdings (44): bonds, preferreds, convertibles and warrants · $1.7B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 1,218,887 | $91.2M | Reduce -1.9% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 97,573,000 | $90.5M | Add +4.3% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 88,488,000 | $87.3M | Reduce -1.2% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 72,003 | $87.3M | Reduce -3.2% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 88,850,000 | $86.5M | Reduce -2.7% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 71,678 | $84.2M | Reduce -0.6% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 57,831,000 | $82.5M | Add +6.4% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 71,272,000 | $75.5M | Reduce -1.9% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 75,333,000 | $67.4M | Add +29.7% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 54,370,000 | $64.7M | Add +1.6% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 1,202,249 | $64.4M | Add +193.2% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 1,206,480 | $63.9M | Reduce -1.5% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 57,435,000 | $62.0M | Reduce -1.3% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 57,977,000 | $56.3M | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 47,761,000 | $52.8M | Reduce -2.9% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 52,418,000 | $52.6M | Reduce -0.7% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 1,278,272 | $50.8M | Reduce -13.9% |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 37,822,000 | $37.8M | Add +0.1% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 41,401,000 | $37.2M | Add +6.3% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 32,897,000 | $33.8M | Add +3.1% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 27,957,000 | $29.7M | Reduce -2.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 24,962,000 | $23.7M | Add +27.8% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 21,300,000 | $23.1M | No change |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 473,138 | $22.3M | Add +26.4% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 18,733,000 | $21.0M | Reduce -3.9% |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | 13,120,000 | $20.9M | Reduce -0.0% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 18,838,000 | $20.0M | Add +137.3% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 15,906,000 | $18.8M | Reduce -4.0% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 19,254,000 | $18.1M | Reduce -4.7% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 14,932,000 | $17.5M | Reduce -1.3% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 244,341 | $16.6M | Add +56.4% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 301,000 | $13.3M | No change |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 13,976,000 | $13.1M | Reduce -3.7% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 12,958,000 | $12.7M | Reduce -5.1% |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 12,480,000 | $11.2M | No change |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | 8,082,900 | $8.0M | New |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 232,141 | $7.5M | Reduce -4.3% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 6,410,000 | $7.4M | New |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 7,230,000 | $7.1M | Reduce -39.6% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 5,754,000 | $7.1M | Reduce -4.2% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 5,410,000 | $6.1M | New |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 3,000,000 | $3.3M | New |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 1,672,000 | $1.7M | New |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | 20,381 | $6K | Reduce -64.9% |
Total filed on the 13F, all lines: $155.1B.
Portfolio Sells Q1 2025 → Q2 2025
| UITB Victoryshares Core Intermedi | Reduce -18.5% | 0.45% | −0.43 |
| LNT Alliant Energy Corp. | Reduce -5.7% | 0.39% | −0.32 |
| HIG Hartford Insurance Group Inc. | Reduce -22.5% | 0.29% | −0.29 |
| XEL Xcel Energy Inc. | Reduce -80.7% | 0.03% | −0.26 |
| EBAY eBay Inc. | Reduce -59.4% | 0.09% | −0.24 |
| COO The Cooper Cos Inc. | Reduce -25.4% | 0.16% | −0.24 |
| USFD US Foods Holding Corp. | Reduce -13.2% | 0.42% | −0.23 |
| SKX Skechers USA Inc. Class A | Reduce -99.5% | 0.00% | −0.23 |
| DGX Quest Diagnostics Inc. | Reduce -10.3% | 0.33% | −0.22 |
| WLK Westlake Corp. | Reduce -4.6% | 0.18% | −0.22 |
| FNV Franco-Nevada Corp. | Reduce -27.8% | 0.20% | −0.22 |
| DVN Devon Energy Corp. | Reduce -2.0% | 0.23% | −0.21 |
| BMY Bristol-Myers Squibb Co. | Reduce -32.6% | 0.10% | −0.21 |
| AWK American Water Works Co. Inc. | Reduce -2.3% | 0.28% | −0.21 |
| SBAC SBA Communications Corp. | Reduce -17.9% | 0.25% | −0.21 |
| JPM JPMorgan Chase & Co. | Reduce -7.2% | 0.43% | −0.20 |
| NNN NNN REIT Inc. | Reduce -8.3% | 0.27% | −0.19 |
| HOLX Hologic Inc. | Reduce -16.8% | 0.23% | −0.19 |
| MRK Merck & Co. Inc. | Reduce -0.8% | 0.23% | −0.19 |
| PB Prosperity Bancshares Inc. | Reduce -32.0% | 0.13% | −0.18 |
| VEA Vanguard Ftse Developed ETF | Reduce -44.0% | 0.11% | −0.17 |
| MIDD Middleby Corp. | Reduce -14.0% | 0.18% | −0.17 |
| ON On Semiconductor | Reduce -65.3% | 0.07% | −0.17 |
| AXTA Axalta Coating Systems Ltd. | Reduce -0.4% | 0.21% | −0.17 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -35.6% | 0.14% | −0.16 |
| ELS Equity Lifestyle Properties | Reduce -3.4% | 0.21% | −0.16 |
| CCK Crown Holdings Inc. | Reduce -7.8% | 0.32% | −0.16 |
| CVX Chevron Corp. | Reduce -6.9% | 0.16% | −0.16 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -19.0% | 0.19% | −0.16 |
| PFGC Performance Food Group Co. | Reduce -0.1% | 0.35% | −0.15 |
| RPM RPM International Inc. | Reduce -2.5% | 0.20% | −0.15 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -9.8% | 0.17% | −0.14 |
| ABBV Abbvie Inc. | Reduce -1.7% | 0.17% | −0.14 |
| LAMR Lamar Advertising Co. Class A | Reduce -2.9% | 0.26% | −0.14 |
| AVY Avery Dennison Corp. | Reduce -14.5% | 0.15% | −0.14 |
| GM General Motors Co. | Reduce -77.8% | 0.02% | −0.13 |
| RRX Regal Rexnord Corp. | Reduce -31.7% | 0.16% | −0.13 |
| COST Costco Wholesale Corp. | Reduce -3.5% | 0.23% | −0.13 |
| A Agilent Technologies Inc. | Reduce -80.3% | 0.02% | −0.13 |
| CARR Carrier Global Corp. | Reduce -20.8% | 0.17% | −0.13 |
| LEN Lennar Corp. Class A | Reduce -78.4% | 0.02% | −0.12 |
| GLOB Globant SA | Reduce -11.6% | 0.09% | −0.12 |
| MCK McKesson Corp. | Reduce -23.4% | 0.13% | −0.11 |
| TXT Textron Inc. | Reduce -2.6% | 0.24% | −0.11 |
| BWA Borgwarner Inc. | Reduce -17.1% | 0.17% | −0.11 |
| LSTR Landstar System Inc. | Reduce -1.3% | 0.15% | −0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.5% | 0.13% | −0.11 |
| FCN Fti Consulting Inc. | Reduce -4.6% | 0.16% | −0.11 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -25.9% | 0.11% | −0.11 |
| AGCO Agco Corp. | Reduce -3.3% | 0.22% | −0.10 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +99.9% | 3.62% | +1.43 |
| AMZN Amazon.com Inc. | Add +176.2% | 2.80% | +1.40 |
| NVDA Nvidia Corp. | Add +73.0% | 3.46% | +1.27 |
| ORCL Oracle Corp. | Add +683.5% | 0.98% | +0.85 |
| UBER Uber Technologies Inc. | Add +1095.9% | 0.94% | +0.84 |
| AMD Advanced Micro Devices | Add +651.5% | 0.84% | +0.71 |
| GOOGL Alphabet Inc. Class A | Add +191.8% | 1.21% | +0.63 |
| TFC Truist Financial Corp. | Add +374.4% | 0.90% | +0.61 |
| IBM Intl Business Machines Corp. | Add +1062.2% | 0.67% | +0.59 |
| MLM Martin Marietta Materials | Add +4505.1% | 0.59% | +0.58 |
| FCX Freeport-McMoran Inc. | Add +3404.6% | 0.57% | +0.54 |
| AVGO Broadcom Inc. | Add +70.7% | 1.16% | +0.50 |
| VRTX Vertex Pharmaceuticals Inc. | Add +633.3% | 0.63% | +0.48 |
| APH Amphenol Corp. Class A | Add +726.7% | 0.55% | +0.48 |
| V Visa Inc. Class A | Add +235.1% | 0.89% | +0.47 |
| MCHP Microchip Technology Inc. | Add +1690.1% | 0.50% | +0.47 |
| MA Mastercard Inc. Class A | Add +276.5% | 0.73% | +0.43 |
| UPS United Parcel Service Class B | Add +1039.5% | 0.49% | +0.41 |
| PINS Pinterest Inc. Class A | Add +4827.4% | 0.41% | +0.39 |
| PWR Quanta Services Inc. | Add +454.9% | 0.49% | +0.39 |
| CSCO Cisco Systems Inc. | Add +187.0% | 0.77% | +0.39 |
| DIS The Walt Disney Co. | Add +698.6% | 0.44% | +0.37 |
| GEV GE Vernova Inc. | Add +729.1% | 0.41% | +0.36 |
| LH Labcorp Holdings Inc. | Add +3588.6% | 0.38% | +0.36 |
| INTU Intuit Inc. | Add +273.4% | 0.53% | +0.35 |
| ICE Intercontinental Exchange Inc. | Add +1459.9% | 0.39% | +0.35 |
| GS Goldman Sachs Group Inc. | Add +255.1% | 0.50% | +0.33 |
| TECK Teck Resources Ltd.-CLS B | New | 0.32% | +0.32 |
| USB US Bancorp | Add +1481.4% | 0.35% | +0.32 |
| HD Home Depot Inc. | Add +327.3% | 0.50% | +0.31 |
| BAC Bank of America Corp. | Add +288.0% | 0.48% | +0.31 |
| ASML ASML Holding NV-NY Reg SHS | Add +1491.4% | 0.33% | +0.31 |
| VRT Vertiv Holdings Co. Class A | Add +424.9% | 0.36% | +0.30 |
| NOW ServiceNow Inc. | Add +243.1% | 0.46% | +0.30 |
| BKNG Booking Holdings Inc. | Add +200.5% | 0.50% | +0.29 |
| ETN Eaton Corp. PLC | Add +444.3% | 0.37% | +0.29 |
| CRM Salesforce Inc. | Add +377.2% | 0.43% | +0.29 |
| KKR KKR & Co. Inc. | Add +1599.1% | 0.31% | +0.29 |
| STT State Street Corp. | Add +789.9% | 0.33% | +0.28 |
| NRG NRG Energy Inc. | Add +263.0% | 0.37% | +0.27 |
| ISRG Intuitive Surgical Inc. | Add +219.1% | 0.49% | +0.26 |
| TJX TJX Companies Inc. | Add +403.5% | 0.38% | +0.26 |
| LNG Cheniere Energy Inc. | Add +1477.3% | 0.26% | +0.24 |
| ORLY O'reilly Automotive Inc. | Add +381.7% | 0.36% | +0.23 |
| ACN Accenture PLC Class A | Add +438.4% | 0.34% | +0.23 |
| LLY Eli Lilly & Co. | Add +138.5% | 0.79% | +0.23 |
| KLAC KLA Corp. | Add +245.8% | 0.34% | +0.22 |
| ROK Rockwell Automation Inc. | Add +1508.6% | 0.22% | +0.21 |
| APO Apollo Global Management Inc. | Add +1670.1% | 0.22% | +0.20 |
| ES Eversource Energy | Add +1109.3% | 0.23% | +0.20 |
Notes & Other Activity Q1 2025 → Q2 2025
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -1.9% | 1,218,887 | $91.2M |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | Add +4.3% | 97,573,000 | $90.5M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -1.2% | 88,488,000 | $87.3M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -3.2% | 72,003 | $87.3M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Reduce -2.7% | 88,850,000 | $86.5M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -0.6% | 71,678 | $84.2M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +6.4% | 57,831,000 | $82.5M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -1.9% | 71,272,000 | $75.5M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Sold out | 28,614,000 | $70.2Mbefore exit |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Add +29.7% | 75,333,000 | $67.4M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 66,696,000 | $66.5Mbefore exit |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Add +1.6% | 54,370,000 | $64.7M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Add +193.2% | 1,202,249 | $64.4M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Reduce -1.5% | 1,206,480 | $63.9M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -1.3% | 57,435,000 | $62.0M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 57,977,000 | $56.3M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Reduce -2.9% | 47,761,000 | $52.8M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -0.7% | 52,418,000 | $52.6M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Reduce -13.9% | 1,278,272 | $50.8M |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Add +0.1% | 37,822,000 | $37.8M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Add +6.3% | 41,401,000 | $37.2M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +3.1% | 32,897,000 | $33.8M |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | Reduce -2.0% | 27,957,000 | $29.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +27.8% | 24,962,000 | $23.7M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Add +26.4% | 473,138 | $22.3M |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | Reduce -3.9% | 18,733,000 | $21.0M |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | Reduce -0.0% | 13,120,000 | $20.9M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +137.3% | 18,838,000 | $20.0M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -4.0% | 15,906,000 | $18.8M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -4.7% | 19,254,000 | $18.1M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Reduce -1.3% | 14,932,000 | $17.5M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +56.4% | 244,341 | $16.6M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Reduce -3.7% | 13,976,000 | $13.1M |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | Sold out | 13,400,000 | $13.1Mbefore exit |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Reduce -5.1% | 12,958,000 | $12.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 10,530,000 | $10.5Mbefore exit |
| REDWOOD TRUST INC (RWT 7.75 06/15/27) | NOTE 7.750% 6/1 · principal | New | 8,082,900 | $8.0M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -4.3% | 232,141 | $7.5M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | New | 6,410,000 | $7.4M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Reduce -39.6% | 7,230,000 | $7.1M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -4.2% | 5,754,000 | $7.1M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 5,410,000 | $6.1M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | New | 3,000,000 | $3.3M |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | New | 1,672,000 | $1.7M |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | Reduce -64.9% | 20,381 | $6K |
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 |