Virtus Advisers, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Virtus Advisers, LLC reported 426 stock positions worth $208.0 million. Its top holding was Virtus U.S. Dividend ETF (VUS) at 7.9% of the portfolio, followed by Virtus International Div ETF (VDI, 6.6%) and Centerra Gold (CGAU, 2.5%). Compared with Q3 2025, it opened 83 new positions, sold out of 60, added to 82 and reduced 92. The biggest buy was a new position in Virtus U.S. Dividend ETF (VUS) and the biggest sale SSR Mining (SSRM, shares −60%).

Most Recent 13F
Q2 2026
Location
HARTFORD, CT
CIK
0001587281
Portfolio Value
$208.0M (Q4 2025)
SEC Filing
0001587281-26-000008 ↗ filed Feb 13, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $187.9M Q1 2024 Q2 2024: $203.8M Q2 2024 Q3 2024: $213.5M Q3 2024 Q4 2024: $244.5M Q4 2024 Q1 2025: $150.5M Q1 2025 Q2 2025: $159.8M Q2 2025 Q3 2025: $177.9M Q3 2025 Q4 2025: $208.0M $208.0M Q4 2025 Q1 2026: $211.6M Q1 2026 Q2 2026: $256.8M Q2 2026

Holdings 426 stocks · $208.0M
VUS Virtus U.S. Dividend ETF 7.87% 647,801 $16.4M New
VDI Virtus International Div ETF 6.57% 434,176 $13.7M New
CGAU Centerra Gold Inc. 2.46% 287,810 $5.1M No change
BAP Credicorp Ltd. 2.38% 17,223 $4.9M Add +6789.2%
HDB HDFC Bank Ltd.-ADR 1.64% 93,098 $3.4M Reduce -1.7%
TEL Te Connectivity PLC 1.48% 13,533 $3.1M Add +1591.6%
IBN Icici Bank Ltd.-Spon ADR 1.34% 93,717 $2.8M Reduce -54.2%
CIB Grupo Cibest SA-ADR 1.30% 42,593 $2.7M Reduce -5.3%
SSRM SSR Mining Inc. 1.14% 86,662 $2.4M Reduce -59.9%
AAPL Apple Inc. 1.13% 8,610 $2.3M Reduce -7.9%
LRCX Lam Research Corp. 1.01% 12,255 $2.1M Reduce -14.2%
PRIM Primoris Services Corp. 0.99% 16,602 $2.1M Reduce -19.0%
FIX Comfort Systems USA Inc. 0.98% 2,192 $2.0M Add +11.6%
NXT Nextpower Inc. 0.94% 22,405 $2.0M No change
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 0.92% 46,813 $1.9M No change
PAHC Phibro Animal Health Corp. Class A 0.87% 48,576 $1.8M No change
TSEM Tower Semiconductor Ltd. 0.84% 14,929 $1.8M Reduce -28.2%
RDY Dr. Reddy's Laboratories-ADR 0.79% 116,945 $1.6M No change
GL Globe Life Inc. 0.78% 11,635 $1.6M Reduce -12.8%
INDA iShares MSCI India ETF 0.77% 29,492 $1.6M Reduce -28.6%
ECPG Encore Capital Group Inc. 0.76% 29,086 $1.6M Add +749.0%
WB Weibo Corp.-Spon ADR 0.76% 153,831 $1.6M Reduce -55.5%
NVDA Nvidia Corp. 0.75% 8,381 $1.6M Reduce -12.3%
VCYT Veracyte Inc. 0.73% 36,230 $1.5M No change
KN Knowles Corp. 0.65% 62,816 $1.3M Add +192.0%
ALKS Alkermes PLC 0.64% 47,708 $1.3M No change
MOG.A Moog Inc. Class A 0.63% 5,392 $1.3M No change
KSS Kohls Corp. 0.62% 63,589 $1.3M Reduce -5.6%
NCLH Norwegian Cruise Line Holdin 0.62% 57,820 $1.3M Reduce -29.2%
PENG Penguin Solutions Inc. 0.62% 65,596 $1.3M No change
ANIP Ani Pharmaceuticals Inc. 0.60% 15,906 $1.3M No change
WWD Woodward Inc. 0.58% 3,985 $1.2M No change
TILE Interface Inc. 0.58% 42,976 $1.2M No change
LE Lands' End Inc. 0.57% 82,185 $1.2M No change
AMBA Ambarella Inc. 0.57% 16,830 $1.2M Reduce -19.6%
MSFT Microsoft Corp. 0.56% 2,426 $1.2M Reduce -18.4%
MTG Mgic Investment Corp. 0.55% 39,357 $1.2M No change
ACAD Acadia Pharmaceuticals Inc. 0.55% 42,974 $1.1M No change
HWC Hancock Whitney Corp. 0.55% 18,007 $1.1M No change
DBX Dropbox Inc. Class A 0.55% 40,876 $1.1M Reduce -5.5%
FTDR Frontdoor Inc. 0.53% 19,189 $1.1M No change
DOCU Docusign Inc. 0.52% 15,900 $1.1M Add +8.7%
FN Fabrinet 0.52% 2,376 $1.1M Add +17.3%
GDOT Green Dot Corp. Class A 0.49% 80,268 $1.0M No change
CRUS Cirrus Logic Inc. 0.49% 8,600 $1.0M No change
THFF First Financial Corp. 0.48% 16,496 $997K New
EME Emcor Group Inc. 0.47% 1,607 $983K Add +5.2%
CVLT Commvault Systems Inc. 0.46% 7,690 $964K Reduce -25.9%
ARWR Arrowhead Pharmaceuticals Inc. 0.46% 14,462 $960K No change
VVX V2X Inc. 0.45% 17,295 $943K No change
LFST Lifestance Health Group Inc. 0.44% 131,202 $924K Add +13.6%
MTZ Mastec Inc. 0.43% 4,119 $895K No change
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC 0.43% 8,610 $891K No change
AB Alliancebernstein Holding LP 0.43% 22,982 $884K Reduce -15.3%
ALHC Alignment Healthcare Inc. 0.42% 44,569 $880K No change
GMAB Genmab A/S -SP ADR 0.41% 27,495 $847K No change
CAMT Camtek Ltd. 0.40% 7,757 $825K Reduce -28.4%
CRGY Crescent Energy Inc. Class A 0.39% 97,523 $818K Reduce -7.4%
NTRA Natera Inc. 0.39% 3,562 $816K Reduce -22.9%
EVER Everquote Inc. Class A 0.39% 30,005 $810K No change
RGA Reinsurance Group of America 0.39% 3,955 $805K No change
AIR Aar Corp. 0.37% 9,369 $776K No change
CDNA Caredx Inc. 0.37% 40,564 $764K No change
BMY Bristol-Myers Squibb Co. 0.37% 14,117 $761K Add +14.3%
AMSC American Superconductor Corp. 0.36% 25,990 $748K No change
NLY Annaly Capital Management Inc. 0.36% 33,361 $746K Add +33.7%
CASY Casey's General Stores Inc. 0.35% 1,332 $736K No change
EAT Brinker International Inc. 0.35% 5,093 $731K No change
ECG Everus Construction Group 0.35% 8,500 $727K New
DRS Leonardo DRS Inc. 0.35% 21,304 $726K No change
AMZN Amazon.com Inc. 0.35% 3,121 $720K Reduce -20.9%
IBEX Ibex Ltd. 0.34% 18,660 $712K Add +45.2%
PFE Pfizer Inc. 0.34% 28,111 $700K New
AMR Alpha Metallurgical Resource 0.33% 3,443 $688K Add +2.8%
NTB Bank of N.T. Butterfield&son 0.33% 13,596 $677K No change
MSGS Madison Square Garden Sports 0.32% 2,592 $670K No change
POWL Powell Industries Inc. 0.32% 2,067 $659K Add +135.7%
EIX Edison International 0.31% 10,892 $654K Add +65.0%
PBH Prestige Consumer Healthcare 0.31% 10,324 $637K No change
PRGS Progress Software Corp. 0.31% 14,800 $636K New
BWA Borgwarner Inc. 0.31% 14,091 $635K Add +587.4%
IDA Idacorp Inc. 0.30% 5,005 $633K No change
RF Regions Financial Corp. 0.30% 22,925 $621K Add +52.8%
MO Altria Group Inc. 0.30% 10,732 $619K Add +17.5%
EVRG Evergy Inc. 0.30% 8,525 $618K No change
VSXY Victoria's Secret & Co. 0.29% 11,270 $610K New
ZETA Zeta Global Holdings Corp. Class A 0.29% 29,904 $609K Add +58.2%
HMY Harmony Gold MNG-Spon ADR 0.29% 30,288 $603K New
LNT Alliant Energy Corp. 0.28% 9,114 $593K No change
COHR Coherent Corp. 0.28% 3,154 $582K No change
HAFN Hafnia Ltd. 0.27% 23,568 $570K New
EXEL Exelixis Inc. 0.27% 13,000 $570K No change
ROKU Roku Inc. 0.27% 5,228 $567K Add +62.7%
LOPE Grand Canyon Education Inc. 0.27% 3,396 $565K No change
ADC Agree Realty Corp. 0.27% 7,815 $563K No change
PEGA Pegasystems Inc. 0.27% 9,406 $562K No change
PRDO Perdoceo Education Corp. 0.27% 18,948 $556K No change
SRPT Sarepta Therapeutics Inc. 0.27% 25,800 $555K No change
YOU Clear Secure Inc. Class A 0.27% 15,797 $554K No change
OTTR Otter Tail Corp. 0.27% 6,854 $554K No change
OGE Oge Energy Corp. 0.26% 12,766 $545K No change
GOOGL Alphabet Inc. Class A 0.26% 1,734 $543K Reduce -36.8%
AVGO Broadcom Inc. 0.26% 1,568 $543K Add +45.2%
INVA Innoviva Inc. 0.26% 26,946 $539K No change
DCO Ducommun Inc. 0.26% 5,588 $532K Reduce -59.8%
ANF Abercrombie & Fitch Co. Class A 0.25% 4,200 $529K Reduce -47.5%
GCO Genesco Inc. 0.25% 21,146 $524K Reduce -10.7%
MMSI Merit Medical Systems Inc. 0.25% 5,913 $521K No change
TR Tootsie Roll Inds 0.25% 14,132 $518K No change
TD Toronto-Dominion Bank 0.25% 3,941 $510K Add +14.2%
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP 0.24% 20,100 $499K New
PLOW Douglas Dynamics Inc. 0.24% 15,250 $498K No change
FBNC First Bancorp 0.24% 9,750 $495K New
CSTM Constellium SE 0.24% 26,000 $490K No change
WLDN Willdan Group Inc. 0.23% 4,700 $487K No change
DAKT Daktronics Inc. 0.23% 24,621 $487K No change
RLI Rli Corp. 0.23% 7,466 $478K No change
HRMY Harmony Biosciences Holdings 0.23% 12,524 $469K No change
PM Philip Morris International 0.22% 2,912 $467K Reduce -29.1%
F Ford Motor Co. filed as FORD MTR CO 0.22% 35,450 $465K Add +213.7%
PRU Prudential Financial Inc. 0.22% 4,116 $465K New
NI Nisource Inc. 0.22% 10,877 $454K Reduce -20.6%
FBP First Bancorp Puerto Rico 0.22% 21,858 $453K No change
AMRX Amneal Pharmaceuticals Inc. 0.22% 35,921 $453K No change
THC Tenet Healthcare Corp. 0.22% 2,267 $450K Add +175.8%
SANM Sanmina Corp. 0.21% 2,980 $447K New
VZ Verizon Communications Inc. 0.21% 10,959 $446K Add +10.1%
BE Bloom Energy Corp. Class A 0.21% 5,070 $441K New
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.21% 4,332 $439K Add +1.7%
BBY Best Buy Co. Inc. 0.20% 6,369 $426K Add +35.5%
CFG Citizens Financial Group 0.20% 7,292 $426K Add +1.3%
CRDO Credo Technology Group Holdi 0.20% 2,954 $425K No change
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.20% 3,839 $422K Add +17.0%
MGA Magna International Inc. 0.20% 6,824 $420K Reduce -45.4%
MANH Manhattan Associates Inc. 0.20% 2,419 $419K Reduce -12.6%
GOOG Alphabet Inc. Class C 0.20% 1,322 $415K Reduce -47.5%
EHC Encompass Health Corp. 0.20% 3,901 $414K No change
INTA Intapp Inc. 0.20% 8,928 $409K No change
MU Micron Technology Inc. 0.19% 1,386 $396K Add +43.6%
VIPS Vipshop Holdings Ltd. - ADR 0.19% 22,323 $395K Reduce -1.1%
WPC WP Carey Inc. 0.19% 6,103 $393K Add +1.7%
PAGS Pagseguro Digital Ltd. Class A 0.19% 40,000 $386K No change
CHE Chemed Corp. 0.18% 895 $383K No change
VALE Vale SA-SP ADR 0.18% 28,456 $371K New
FSM Fortuna Mining Corp. 0.18% 37,681 $370K No change
PNW Pinnacle West Capital 0.18% 4,145 $368K No change
NBIX Neurocrine Biosciences Inc. 0.18% 2,584 $366K No change
JNJ Johnson & Johnson 0.18% 1,767 $366K Add +181.4%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.17% 3,118 $362K Reduce -28.1%
AVDL Avadel Pharmaceuticals Ltd. 0.17% 16,385 $353K No change
VLY Valley National Bancorp 0.17% 30,200 $353K New
LYB Lyondellbasell Indu Class A 0.17% 8,136 $352K New
EMA Emera Inc. 0.17% 6,155 $352K Add +23.1%
AWR American States Water Co. filed as AMER STATES WTR CO 0.17% 4,803 $348K No change
POST Post Holdings Inc. filed as POST HLDGS INC 0.17% 3,508 $347K No change
RIGL Rigel Pharmaceuticals Inc. 0.17% 8,027 $344K No change
CPRX Catalyst Pharmaceuticals Inc. 0.16% 14,572 $340K No change
ADMA Adma Biologics Inc. 0.16% 18,412 $336K No change
WDFC WD-40 Co. 0.15% 1,631 $321K No change
IONQ Ionq Inc. 0.15% 7,071 $317K Add +87.5%
AEM Agnico Eagle Mines Ltd. 0.15% 1,696 $316K Add +276.9%
MIRM Mirum Pharmaceuticals Inc. 0.15% 4,000 $316K No change
ACM Aecom 0.15% 3,302 $315K Reduce -66.5%
ABBV Abbvie Inc. 0.15% 1,364 $312K Add +45.0%
ARRY Array Technologies Inc. 0.15% 33,510 $309K Reduce -13.8%
MS Morgan Stanley 0.15% 1,733 $308K Reduce -3.8%
TATT Tat Technologies Ltd. 0.15% 6,859 $306K No change
ARE Alexandria Real Estate Equit 0.15% 6,228 $305K New
DX Dynex Capital Inc. 0.15% 21,593 $303K Add +117.0%
TNET Trinet Group Inc. 0.14% 5,100 $302K No change
CCI Crown Castle Inc. 0.14% 3,389 $301K New
CTGO Contango Silver & Gold Inc. 0.14% 11,300 $298K Add +101.8%
BY Byline Bancorp Inc. 0.14% 10,179 $297K No change
PGR Progressive Corp. 0.14% 1,295 $295K New
SFM Sprouts Farmers Market Inc. 0.14% 3,658 $291K Reduce -35.9%
QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC 0.14% 4,017 $290K No change
ADI Analog Devices Inc. 0.14% 1,054 $286K Add +177.4%
WPM Wheaton Precious Metals Corp. 0.14% 2,362 $282K New
GH Guardant Health Inc. 0.14% 2,750 $281K New
PBYI Puma Biotechnology Inc. 0.14% 47,172 $281K No change
PPC Pilgrim's Pride Corp. 0.13% 7,130 $278K No change
AMBP Ardagh Metal Packaging SA 0.13% 67,779 $278K Add +7.8%
STT State Street Corp. 0.13% 2,147 $277K Reduce -3.7%
ADTN Adtran Holdings Inc. 0.13% 31,571 $274K No change
OR Or Royalties Inc. 0.13% 7,720 $273K No change
SPGI S&P Global Inc. 0.13% 521 $272K Add +830.4%
CFFN Capitol Federal Financial Inc. 0.13% 39,238 $267K No change
CSCO Cisco Systems Inc. 0.13% 3,379 $260K Add +46.4%
EIG Employers Holdings Inc. 0.12% 5,988 $259K No change
WMK Weis Markets Inc. filed as WEIS MKTS INC 0.12% 4,022 $258K No change
APH Amphenol Corp. Class A 0.12% 1,891 $256K New
AMGN Amgen Inc. 0.12% 775 $254K Add +43.3%
ORA Ormat Technologies Inc. 0.12% 2,283 $252K No change
OSIS Osi Systems Inc. 0.12% 982 $250K No change
USB US Bancorp 0.12% 4,650 $248K New
UPST Upstart Holdings Inc. 0.12% 5,670 $248K No change
META Meta Platforms Inc. Class A 0.12% 372 $246K Reduce -50.2%
BFAM Bright Horizons Family Solut 0.12% 2,413 $245K No change
ITRG Integra Resources Corp. 0.12% 60,700 $243K No change
HAFC Hanmi Financial Corporation 0.12% 9,000 $243K New
CMC Commercial Metals Co. 0.12% 3,500 $242K New
RGTI Rigetti Computing Inc. 0.12% 10,890 $241K New
UVV Universal Corp. 0.12% 4,570 $241K No change
EBS Emergent Biosolutions Inc. 0.12% 19,500 $241K New
URBN Urban Outfitters Inc. 0.11% 3,168 $238K No change
NOW ServiceNow Inc. 0.11% 1,540 $236K Add +962.1%
ANET Arista Networks Inc. 0.11% 1,793 $235K Add +61.1%
CLBT Cellebrite Di Ltd. 0.11% 12,954 $234K No change
CPF Central Pacific Financial Co. 0.11% 7,462 $233K No change
GIL Gildan Activewear Inc. 0.11% 3,679 $230K No change
SUN Sunoco LP 0.11% 4,380 $230K No change
STRA Strategic Education Inc. 0.11% 2,844 $228K No change
MAMA Mama's Creations Inc. 0.11% 16,453 $222K No change
UFCS United Fire Group Inc. 0.11% 6,050 $220K No change
CUBI Customers Bancorp Inc. 0.11% 3,000 $219K New
DGII Digi International Inc. 0.11% 5,059 $219K No change
NVST Envista Holdings Corp. 0.10% 10,062 $218K No change
SAFT Safety Insurance Group Inc. 0.10% 2,768 $216K No change
INDV Indivior Ltd. 0.10% 6,000 $215K New
ATO Atmos Energy Corp. 0.10% 1,272 $213K New
TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP 0.10% 20,274 $213K New
TK Teekay Corp. Ltd. 0.10% 23,518 $212K Reduce -64.0%
AVNS Avanos Medical Inc. 0.10% 18,830 $211K New
CALM Cal-Maine Foods Inc. 0.10% 2,657 $211K Reduce -30.2%
EXAS Exact Sciences Corp. 0.10% 2,078 $211K Reduce -73.6%
AME Ametek Inc. 0.10% 1,023 $210K New
MDGL Madrigal Pharmaceuticals Inc. 0.10% 360 $210K New
NVT Nvent Electric PLC 0.10% 2,046 $209K Add +46.1%
SPG Simon Property Group Inc. 0.10% 1,122 $208K Reduce -8.8%
AA Alcoa Corp. 0.10% 3,900 $207K New
ALL Allstate Corp. 0.10% 992 $206K Add +47.6%
ZM Zoom Communications Inc. 0.10% 2,387 $206K New
CNC Centene Corp. 0.10% 5,000 $206K New
BIP Brookfield Infrastructure Pa 0.10% 5,921 $206K Add +85.0%
D Dominion Energy Inc. 0.10% 3,507 $205K Reduce -3.8%
CRMD Cormedix Inc. 0.10% 17,590 $205K No change
CGNT Cognyte Software Ltd. 0.10% 21,587 $203K No change
UTL Unitil Corp. 0.10% 4,177 $202K No change
AGNC AGNC Investment Corp. 0.10% 18,786 $201K Add +46.8%
GWRE Guidewire Software Inc. 0.10% 1,000 $201K No change
RDCM Radcom Ltd. 0.10% 15,356 $201K Reduce -38.2%
KE Kimball Electronics Inc. 0.10% 7,204 $200K No change
IEP Icahn Enterprises LP 0.10% 26,536 $200K Add +80.5%
MPWR Monolithic Power Systems Inc. 0.09% 217 $197K New
IRWD Ironwood Pharmaceuticals Inc. 0.09% 58,000 $195K New
MZTI The Marzetti Company 0.09% 1,188 $195K No change
SPOK Spok Holdings Inc. filed as SPOK HLDGS INC 0.09% 14,663 $193K Add +130.9%
TRMD Torm PLC-A 0.09% 9,858 $193K Add +356.4%
WES Western Midstream Partners L 0.09% 4,836 $191K New
GSL Global Ship Lease Inc. Class A 0.09% 5,437 $191K Add +47.0%
AVAH Aveanna Healthcare Holdings 0.09% 23,300 $190K New
HEI.A Heico Corp. Class A 0.09% 744 $188K Add +48.8%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.09% 1,819 $186K Reduce -37.3%
ORC Orchid Island Capital Inc. 0.09% 25,823 $186K Add +46.7%
TPB Turning Point Brands Inc. 0.09% 1,715 $186K Reduce -74.8%
ACMR Acm Research Inc. Class A 0.09% 4,694 $185K Reduce -83.8%
ARLP Alliance Resource Partners 0.09% 7,905 $184K Add +46.4%
UNTY Unity Bancorp Inc. 0.09% 3,539 $183K No change
LOGI Logitech International-Reg 0.09% 2,244 $183K No change
RDN Radian Group Inc. 0.09% 5,060 $182K No change
IVR Invesco Mortgage Capital 0.09% 21,576 $181K Add +46.8%
HALO Halozyme Therapeutics Inc. 0.09% 2,690 $181K No change
LTC LTC Properties Inc. filed as LTC PPTYS INC 0.09% 5,208 $179K New
ACLS Axcelis Technologies Inc. 0.09% 2,221 $178K No change
GD General Dynamics Corp. 0.09% 527 $177K Add +46.4%
VRT Vertiv Holdings Co. Class A 0.09% 1,094 $177K Reduce -4.5%
BOOT Boot Barn Holdings Inc. 0.08% 1,000 $176K New
FSLY Fastly Inc. Class A 0.08% 17,200 $175K New
PCRX Pacira Biosciences Inc. 0.08% 6,765 $175K No change
LHX L3HARRIS Technologies Inc. 0.08% 589 $173K Add +47.3%
APPF Appfolio Inc. Class A 0.08% 740 $172K No change
SRAD Sportradar Group AG-A 0.08% 7,200 $171K No change
B Barrick Mining Corp. 0.08% 2,856 $171K Add +2.0%
SCHW Schwab (charles) Corp. 0.08% 1,705 $170K Add +47.0%
TBPH Theravance Biopharma Inc. 0.08% 9,100 $170K New
IDT Idt Corp. Class B 0.08% 3,240 $166K No change
WAY Waystar Holding Corp. 0.08% 5,058 $166K No change
DG Dollar General Corp. 0.08% 1,240 $165K Add +45.9%
PCVX Vaxcyte Inc. 0.08% 3,500 $161K New
IRMD Iradimed Corp. 0.08% 1,650 $161K No change
FTRE Fortrea Holdings Inc. 0.08% 9,150 $158K New
PHR Phreesia Inc. 0.08% 9,281 $157K Reduce -34.5%
KLAC KLA Corp. 0.08% 129 $157K Reduce -69.1%
PI Impinj Inc. 0.08% 900 $157K New
KRP Kimbell Royalty Partners LP 0.08% 13,299 $156K Add +46.6%
SKT Tanger Inc. 0.07% 4,650 $155K New
GLDD Great Lakes Dredge & Dock Co. 0.07% 11,737 $154K No change
SMBK Smartfinancial Inc. 0.07% 4,163 $154K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.07% 974 $150K New
DGICA Donegal Group Inc. Class A 0.07% 7,437 $149K No change
QBTS D-Wave Quantum Inc. 0.07% 5,589 $146K New
HBAN Huntington Bancshares Inc. 0.07% 8,328 $144K Reduce -4.3%
ROG Rogers Corp. 0.07% 1,573 $144K No change
SRTA Strata Critical Medical Inc. 0.07% 29,168 $140K No change
MAX Mediaalpha Inc. Class A 0.07% 10,623 $138K Reduce -43.2%
INGR Ingredion Inc. 0.07% 1,240 $137K No change
DELL Dell Technologies -C 0.07% 1,085 $137K Add +46.6%
EWBC East West Bancorp Inc. 0.07% 1,209 $136K New
IIPR Innovative Industrial Proper 0.07% 2,852 $135K New
TSLA Tesla Inc. 0.06% 299 $134K Add +49.5%
DOO BRP Inc./Ca- Sub Voting 0.06% 1,879 $133K No change
AUGO Aura Minerals Inc. 0.06% 2,635 $133K Add +46.4%
ODC Oil-Dri Corp. of America 0.06% 2,700 $132K No change
OHI Omega Healthcare Investors 0.06% 2,971 $132K No change
NXDR Nextdoor Holdings Inc. 0.06% 62,600 $131K No change
PNC PNC Financial Services Group 0.06% 623 $130K Reduce -4.2%
SLGN Silgan Holdings Inc. 0.06% 3,190 $129K No change
MFA Mfa Financial Inc. 0.06% 13,737 $128K New
SNDK Sandisk Corp. 0.06% 527 $125K New
MYGN Myriad Genetics Inc. 0.06% 20,000 $123K New
OPRX Optimizerx Corp. 0.06% 9,687 $119K Reduce -61.5%
CRNC Cerence Inc. 0.06% 11,093 $119K No change
CELH Celsius Holdings Inc. 0.06% 2,540 $116K No change
JPM JPMorgan Chase & Co. 0.06% 360 $116K Reduce -81.5%
HSTM Healthstream Inc. 0.06% 5,015 $116K No change
GNE Genie Energy Ltd. Class B 0.06% 8,316 $115K No change
JJSF J & J Snack Foods Corp. 0.05% 1,245 $113K No change
PAGP Plains GP Holdings LP 0.05% 5,859 $112K Add +46.5%
INFY Infosys Ltd.-SP ADR 0.05% 6,100 $109K New
PALI Palisade Bio Inc. 0.05% 46,000 $108K New
OOMA Ooma Inc. 0.05% 8,952 $105K No change
CMI Cummins Inc. 0.05% 205 $105K No change
DAWN Day One Biopharmaceuticals I 0.05% 11,200 $104K New
DMLP Dorchester Minerals LP 0.05% 4,607 $103K No change
RLX RLX Technology Inc.-ADR 0.05% 43,796 $102K No change
INFU Infusystem Holdings Inc. 0.05% 11,200 $100K New
CARS Cars.com Inc. 0.05% 8,155 $99K No change
GPRE Green Plains Inc. 0.05% 10,000 $98K New
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.05% 3,379 $95K New
STN Stantec Inc. 0.05% 1,000 $94K No change
ZION Zions Bancorp NA 0.05% 1,601 $94K No change
AVO Mission Produce Inc. 0.04% 7,903 $92K No change
ADUS Addus Homecare Corp. 0.04% 850 $91K Reduce -70.2%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.04% 504 $90K Add +0.8%
CNQ Canadian Natural Resources 0.04% 1,836 $85K Add +2.0%
MSI Motorola Solutions Inc. 0.04% 217 $83K Add +52.8%
ATHM Autohome Inc.-ADR 0.04% 3,700 $82K No change
YELP Yelp Inc. 0.04% 2,700 $82K No change
XRN Chiron Real Estate Inc. filed as GLOBAL MED REIT INC 0.04% 2,418 $82K Add +46.5%
VITL Vital Farms Inc. 0.04% 2,542 $81K No change
TBCH Turtle Beach Corp. 0.04% 5,699 $80K Reduce -55.5%
CVS CVS Health Corp. 0.04% 992 $79K New
ATEX Anterix Inc. 0.04% 3,500 $76K No change
PSTL Postal Realty Trust Inc. Class A 0.03% 4,247 $69K New
XP XP Inc. Class A 0.03% 4,000 $65K No change
CRC California Resources Corp. 0.03% 1,425 $64K New
BRK.B Berkshire Hathaway Inc. Class B 0.03% 124 $62K Reduce -4.6%
SXC Suncoke Energy Inc. 0.03% 8,401 $60K Reduce -78.0%
UBS UBS Group AG-Reg 0.03% 1,608 $59K Reduce -36.2%
ES Eversource Energy 0.03% 868 $58K Add +44.7%
JBSS John B. Sanfilippo & Son Inc. filed as SANFILIPPO JOHN B & SON INC 0.02% 649 $46K No change
KGC Kinross Gold Corp. 0.02% 1,116 $43K Reduce -88.2%
GE General Electric filed as GE AEROSPACE 0.02% 139 $43K Reduce -88.2%
CMCL Caledonia Mining Corp. PLC 0.02% 1,600 $42K New
ULTA Ulta Beauty Inc. 0.02% 55 $33K New
ROST Ross Stores Inc. 0.02% 180 $32K New
HEI Heico Corp. 0.02% 100 $32K Reduce -47.4%
JBL Jabil Inc. 0.02% 140 $32K New
SCCO Southern Copper Corp. 0.01% 201 $29K New
APA Apa Corp. 0.01% 1,161 $28K Reduce -50.8%
IDXX Idexx Laboratories Inc. 0.01% 41 $28K Reduce -83.0%
RNG Ringcentral Inc. Class A 0.01% 959 $28K Reduce -66.3%
CTAS Cintas Corp. 0.01% 147 $28K No change
SVC Service Pptys TR 0.01% 14,988 $28K No change
PTON Peloton Interactive Inc. Class A 0.01% 4,420 $27K No change
MCO Moody's Corp. 0.01% 53 $27K No change
VLTO Veralto Corp. 0.01% 241 $24K Reduce -83.3%
LH Labcorp Holdings Inc. 0.01% 95 $24K No change
TRGP Targa Resources Corp. 0.01% 129 $24K Reduce -93.9%
DOLE Dole PLC 0.01% 1,490 $22K Reduce -66.3%
QFIN Qfin Holdings Inc.-ADR 0.01% 1,154 $22K Reduce -15.9%
FOLD Amicus Therapeutics Inc. 0.01% 1,523 $22K Reduce -66.3%
LLY Eli Lilly & Co. 0.01% 20 $21K Reduce -80.0%
WSM Williams-Sonoma Inc. 0.01% 114 $20K Reduce -88.1%
ADBE Adobe Inc. 0.01% 55 $19K Reduce -93.6%
KEYS Keysight Technologies Inc. 0.01% 85 $17K New
AIG American International Group 0.01% 175 $15K New
HCA HCA Healthcare Inc. 0.01% 32 $15K Reduce -88.3%
PODD Insulet Corp. 0.01% 51 $14K No change
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.01% 160 $12K New
MDXG Mimedx Group Inc. 0.01% 1,794 $12K Reduce -66.3%
DECK Deckers Outdoor Corp. 0.01% 111 $12K No change
ADSK Autodesk Inc. 0.01% 38 $11K No change
VEEV Veeva Systems Inc. Class A 0.01% 47 $10K No change
CBRE CBRE Group Inc. Class A 0.01% 65 $10K Reduce -31.6%
QCOM Qualcomm Inc. 0.01% 61 $10K Reduce -88.2%
MPC Marathon Petroleum Corp. 0.00% 63 $10K New
NEM Newmont Corp. 0.00% 100 $10K New
TUA Sim St Treas Fut Strat ETF filed as SIMPLIFY EXCHANGE TRADED FUN 0.00% 431 $9K Reduce -4.0%
WTW Willis Towers Watson PLC 0.00% 25 $8K No change
VABS Virtus Nwflt Secr Inc. ETF-Ui 0.00% 332 $8K Add +21.2%
HUBS HubSpot Inc. 0.00% 20 $8K No change
AFL Aflac Inc. 0.00% 70 $8K New
RMD Resmed Inc. 0.00% 31 $7K No change
NDSN Nordson Corp. 0.00% 30 $7K New
USIG iShares Broad Usd Investment 0.00% 133 $7K Add +79.7%
INTU Intuit Inc. 0.00% 10 $7K No change
ETFIS SER TR I 0.00% 169 $6K Reduce -58.8%
COST Costco Wholesale Corp. 0.00% 7 $6K Reduce -46.1%
FTNT Fortinet Inc. 0.00% 68 $5K Reduce -91.9%
ASMF Virtus As Futures ETF 0.00% 200 $5K No change
NFLT Virtus Newfleet Multi-Sector 0.00% 204 $5K Add +42.7%
SCHX Schwab US Large-Cap ETF 0.00% 169 $5K Reduce -7.7%
USMV iShares MSCI USA Min Vol Fac 0.00% 45 $4K Add +25.0%
PFFA Virtus Infracap US Pref STCK 0.00% 168 $4K No change
VEMY Vir S/H Emrg MKT HY BND ETF 0.00% 124 $3K Reduce -24.4%
TYA Simplify Intermediate Term 0.00% 247 $3K Reduce -12.1%
DVYE iShares Emerging Markets Div 0.00% 101 $3K Add +818.2%
JOET Virtus Terranova US Qual Mom 0.00% 74 $3K Add +48.0%
TLTW iShares 20+ Bond Buywrite 0.00% 137 $3K Add +1.5%
VT Vanguard Tot World STK ETF 0.00% 22 $3K Reduce -15.4%
JEPI JPMorgan Equity Premium Inco 0.00% 53 $3K Reduce -10.2%
TSM Taiwan Semiconductor-SP ADR 0.00% 8 $2K New
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.00% 37 $2K Reduce -2.6%
SCHD Schwab US DVD Equity ETF 0.00% 50 $1K Reduce -40.5%
PFFR Infracap REIT Preferred ETF 0.00% 66 $1K Add +135.7%
LVHI Franklin International Low V 0.00% 28 $1K Reduce -31.7%
SEIX Virtus Seix Senior Loan ETF 0.00% 44 $1K Add +41.9%
VPC Virtus Private Credit Strate 0.00% 57 $1K Add +5.6%
NVS Novartis AG-Sponsored ADR 0.00% 7 $965 New
VSHY Virtus Nwflt SHRT Dur Hi YLD 0.00% 34 $741 No change
NMR Nomura Holdings Inc.-Spon ADR 0.00% 76 $638 New
NWG Natwest Group PLC -Spon ADR 0.00% 34 $595 New
SPHD Invesco S&P 500 High Dividen 0.00% 12 $576 No change
REM iShares Mortgage Real Estate 0.00% 23 $510 No change
VIV Telefonica Brasil-ADR 0.00% 27 $320 New
Other holdings (66): bonds, preferreds, convertibles and warrants · $3.1M (not counted above)
SecurityClassShares / PrincipalValueChange
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal 38,000$202KNew
WESTERN DIGITAL CORP (WDC 3 11/15/28) NOTE 3.000%11/1 · principal 30,000$138KNo change
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal 35,000$118KReduce -46.1%
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal 77,000$94KNo change
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 65,000$86KNo change
OSI SYSTEMS INC (OSIS 2.25 08/01/29) NOTE 2.250% 8/0 · principal 54,000$80KNo change
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal 47,000$77KReduce -42.7%
MKS INC (MKSI 1.25 06/01/30) NOTE 1.250% 6/0 · principal 59,000$75KNew
BLACKLINE INC (BL 1 06/01/29) NOTE 1.000% 6/0 · principal 70,000$74KNo change
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal 51,000$68KNew
WISDOMTREE INC (WT 3.25 08/15/29) NOTE 3.250% 8/1 · principal 57,000$68KNo change
RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 52,000$65KNo change
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) NOTE 3.750% 5/1 · principal 25,000$63KReduce -28.6%
GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) NOTE 3.250% 6/1 · principal 38,000$61KNo change
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) NOTE 1.500% 9/0 · principal 41,000$57KReduce -52.3%
GUARDANT HEALTH INC (GH 1.25 02/15/31) DEBT 1.250% 2/1 · principal 31,000$57KReduce -29.6%
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal 40,000$57KNew
SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) NOTE 3.500%12/0 · principal 20,000$55KReduce -65.5%
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 44,000$55KNew
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) NOTE 1.000% 9/1 · principal 36,000$53KReduce -23.4%
HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal 47,000$51KNo change
BANDWIDTH INC (BAND 0.5 04/01/28) NOTE 0.500% 4/0 · principal 58,000$50KNo change
PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) NOTE 5.500%12/0 · principal 30,000$50KNo change
GREENBRIER COS INC (GBX 2.875 04/15/28) NOTE 2.875% 4/1 · principal 46,000$49KNo change
ENOVIS CORP (ENOV 3.875 10/15/28) NOTE 3.875%10/1 · principal 50,000$49KNo change
ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) NOTE 4.250%11/1 · principal 32,000$48KNew
CONMED CORP (CNMD 2.25 06/15/27) NOTE 2.250% 6/1 · principal 50,000$48KNo change
PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) NOTE 3.500% 3/0 · principal 47,000$47KNo change
MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) NOTE 4.000% 5/0 · principal 18,000$46KNew
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal 44,000$46KNew
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal 42,000$46KNew
OKTA INC (OKTA 0.375 06/15/26) NOTE 0.375% 6/1 · principal 47,000$46KNo change
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) NOTE 2.250% 4/0 · principal 32,000$45KNew
PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) NOTE 2.125% 5/1 · principal 44,000$44KNo change
ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) NOTE 2.250% 6/0 · principal 46,000$44KNo change
VARONIS SYSTEM INC (VRNS 1 09/15/29) NOTE 1.000% 9/1 · principal 47,000$44KNo change
WAYFAIR INC (W 3.5 11/15/28) NOTE 3.500%11/1 · principal 19,000$43KReduce -42.4%
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 42,000$43KNo change
LIVANOVA PLC (LIVN 2.5 03/15/29) NOTE 2.500% 3/1 · principal 37,000$43KNo change
EPR PROPERTIES (EPR 5.75 PERP C) PFD C CV 5.75% · principal 1,857$42KNo change
RINGCENTRAL INC (RNG 0 03/15/26) NOTE 3/1 · principal 42,000$41KNo change
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) NOTE 1.750% 8/1 · principal 43,000$41KNew
ALARM.COM HLDGS INC (ALRM 0 01/15/26) NOTE 1/1 · principal 41,000$41KNo change
INNOVIVA INC (INVA 2.125 03/15/28) NOTE 2.125% 3/1 · principal 40,000$41KNo change
DAYFORCE INC (DAY 0.25 03/15/26) NOTE 0.250% 3/1 · principal 41,000$41KNo change
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) NOTE 0.750%12/1 · principal 36,000$40KNew
ZIFF DAVIS INC (ZD 3.625 03/01/28) DEBT 3.625% 3/0 · principal 40,000$39KNo change
STRIDE INC (LRN 1.125 09/01/27) NOTE 1.125% 9/0 · principal 27,000$37KReduce -22.9%
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) NOTE 1.250%11/0 · principal 31,000$34KNew
STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal 32,000$33KNo change
CENTRUS ENERGY CORP (LEU 2.25 11/01/30) NOTE 2.250%11/0 · principal 12,000$32KNew
PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal 31,000$32KNo change
UPSTART HOLDINGS INC (UPST 2 10/01/29) NOTE 2.000%10/0 · principal 25,000$32KNew
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal 20,000$31KNo change
STRATEGY INC (MSTR 0.625 03/15/30) NOTE 0.625% 3/1 · principal 23,000$29KReduce -42.5%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 20,000$26KNo change
BURLINGTON STORES INC (BURL 1.25 12/15/27) NOTE 1.250%12/1 · principal 16,000$24KNew
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A · principal 1,150$799No change
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV · principal 800$529No change
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV · principal 600$452No change
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D · principal 850$439New
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD · principal 850$428No change
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF · principal 400$316No change
BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) UNIT 02/01/2027 · principal 200$252New
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A · principal 66$80No change
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L · principal 22$27No change

Total filed on the 13F, all lines: $211.1M.

Portfolio Sells Q3 2025 → Q4 2025
SSRM SSR Mining Inc. Reduce -59.9% 1.14% −2.74
IBN Icici Bank Ltd.-Spon ADR Reduce -54.2% 1.34% −2.13
WB Weibo Corp.-Spon ADR Reduce -55.5% 0.76% −1.65
CVLT Commvault Systems Inc. Reduce -25.9% 0.46% −0.64
PRIM Primoris Services Corp. Reduce -19.0% 0.99% −0.59
ACM Aecom Reduce -66.5% 0.15% −0.57
ACMR Acm Research Inc. Class A Reduce -83.8% 0.09% −0.55
NCLH Norwegian Cruise Line Holdin Reduce -29.2% 0.62% −0.51
DCO Ducommun Inc. Reduce -59.8% 0.26% −0.50
BBSI Barrett Business SVCS Inc. Sold out 0.00% −0.49
ARW Arrow Electronics Inc. Sold out 0.00% −0.47
INDA iShares MSCI India ETF Reduce -28.6% 0.77% −0.44
AMBA Ambarella Inc. Reduce -19.6% 0.57% −0.40
IFS Intercorp Financial Services Sold out 0.00% −0.33
OSPN Onespan Inc. Sold out 0.00% −0.30
MSFT Microsoft Corp. Reduce -18.4% 0.56% −0.30
OGN Organon & Co. Sold out 0.00% −0.30
JPM JPMorgan Chase & Co. Reduce -81.5% 0.06% −0.29
TPB Turning Point Brands Inc. Reduce -74.8% 0.09% −0.29
GL Globe Life Inc. Reduce -12.8% 0.78% −0.29
RITM Rithm Capital Corp. Sold out 0.00% −0.28
NVDA Nvidia Corp. Reduce -12.3% 0.75% −0.25
MGPI MGP Ingredients Inc. Sold out 0.00% −0.24
SPCE Virgin Galactic Holdings Inc. Sold out 0.00% −0.24
CAMT Camtek Ltd. Reduce -28.4% 0.40% −0.24
OPRX Optimizerx Corp. Reduce -61.5% 0.06% −0.23
MGA Magna International Inc. Reduce -45.4% 0.20% −0.23
AAPL Apple Inc. Reduce -7.9% 1.13% −0.21
SFM Sprouts Farmers Market Inc. Reduce -35.9% 0.14% −0.21
TK Teekay Corp. Ltd. Reduce -64.0% 0.10% −0.20
ENB Enbridge Inc. Sold out 0.00% −0.20
OSW Onespaworld Holdings Ltd. Sold out 0.00% −0.20
META Meta Platforms Inc. Class A Reduce -50.2% 0.12% −0.19
TRGP Targa Resources Corp. Reduce -93.9% 0.01% −0.19
DBX Dropbox Inc. Class A Reduce -5.5% 0.55% −0.19
HDB HDFC Bank Ltd.-ADR Reduce -1.7% 1.64% −0.18
EA Electronic Arts Inc. Sold out 0.00% −0.18
GE General Electric Reduce -88.2% 0.02% −0.18
KLAC KLA Corp. Reduce -69.1% 0.08% −0.18
NFLX Netflix Inc. Sold out 0.00% −0.18
GRNT Granite Ridge Resources Inc. Sold out 0.00% −0.17
FMS Fresenius Medical Care-ADR Sold out 0.00% −0.16
KGC Kinross Gold Corp. Reduce -88.2% 0.02% −0.16
ADBE Adobe Inc. Reduce -93.6% 0.01% −0.16
ZTS Zoetis Inc. Sold out 0.00% −0.16
AB Alliancebernstein Holding LP Reduce -15.3% 0.43% −0.16
EBAY eBay Inc. Sold out 0.00% −0.15
AMN Amn Healthcare Services Inc. Sold out 0.00% −0.15
PM Philip Morris International Reduce -29.1% 0.22% −0.15
DKS Dick's Sporting Goods Inc. Sold out 0.00% −0.15

Portfolio Buys Q3 2025 → Q4 2025
VUS Virtus U.S. Dividend ETF New 7.87% +7.87
VDI Virtus International Div ETF New 6.57% +6.57
BAP Credicorp Ltd. Add +6789.2% 2.38% +2.34
TEL Te Connectivity PLC Add +1591.6% 1.48% +1.38
ECPG Encore Capital Group Inc. Add +749.0% 0.76% +0.68
THFF First Financial Corp. New 0.48% +0.48
KN Knowles Corp. Add +192.0% 0.65% +0.37
ECG Everus Construction Group New 0.35% +0.35
PFE Pfizer Inc. New 0.34% +0.34
PRGS Progress Software Corp. New 0.31% +0.31
VSXY Victoria's Secret & Co. New 0.29% +0.29
HMY Harmony Gold MNG-Spon ADR New 0.29% +0.29
HAFN Hafnia Ltd. New 0.27% +0.27
BWA Borgwarner Inc. Add +587.4% 0.31% +0.25
ONT Onterris Inc. New 0.24% +0.24
FBNC First Bancorp New 0.24% +0.24
PRU Prudential Financial Inc. New 0.22% +0.22
SANM Sanmina Corp. New 0.21% +0.21
BE Bloom Energy Corp. Class A New 0.21% +0.21
VALE Vale SA-SP ADR New 0.18% +0.18
VLY Valley National Bancorp New 0.17% +0.17
LYB Lyondellbasell Indu Class A New 0.17% +0.17
POWL Powell Industries Inc. Add +135.7% 0.32% +0.17
F Ford Motor Co. Add +213.7% 0.22% +0.15
ARE Alexandria Real Estate Equit New 0.15% +0.15
CCI Crown Castle Inc. New 0.14% +0.14
PGR Progressive Corp. New 0.14% +0.14
WPM Wheaton Precious Metals Corp. New 0.14% +0.14
GH Guardant Health Inc. New 0.14% +0.14
APH Amphenol Corp. Class A New 0.12% +0.12
THC Tenet Healthcare Corp. Add +175.8% 0.22% +0.12
USB US Bancorp New 0.12% +0.12
HAFC Hanmi Financial Corporation New 0.12% +0.12
CMC Commercial Metals Co. New 0.12% +0.12
RGTI Rigetti Computing Inc. New 0.12% +0.12
EBS Emergent Biosolutions Inc. New 0.12% +0.12
SPGI S&P Global Inc. Add +830.4% 0.13% +0.12
JNJ Johnson & Johnson Add +181.4% 0.18% +0.11
EIX Edison International Add +65.0% 0.31% +0.11
CUBI Customers Bancorp Inc. New 0.11% +0.11
FN Fabrinet Add +17.3% 0.52% +0.10
INDV Indivior Ltd. New 0.10% +0.10
ATO Atmos Energy Corp. New 0.10% +0.10
TWO Two Harbors Investment Corp. New 0.10% +0.10
AVNS Avanos Medical Inc. New 0.10% +0.10
AME Ametek Inc. New 0.10% +0.10
MDGL Madrigal Pharmaceuticals Inc. New 0.10% +0.10
AA Alcoa Corp. New 0.10% +0.10
MU Micron Technology Inc. Add +43.6% 0.19% +0.10
ZM Zoom Communications Inc. New 0.10% +0.10

Notes & Other Activity Q3 2025 → Q4 2025
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal New 38,000 $202K
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal Reduce -46.1% 35,000 $118K
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal Sold out 77,000 $106Kbefore exit
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal Sold out 62,000 $85Kbefore exit
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal Reduce -42.7% 47,000 $77K
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal Sold out 74,000 $76Kbefore exit
MKS INC (MKSI 1.25 06/01/30) NOTE 1.250% 6/0 · principal New 59,000 $75K
ITRON INC (ITRI 1.375 07/15/30) NOTE 1.375% 7/1 · principal Sold out 63,000 $72Kbefore exit
SEA LTD (SEALTD 2.375 12/01/25) NOTE 2.375%12/0 · principal Sold out 35,000 $69Kbefore exit
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal New 51,000 $68K
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) NOTE 3.750% 5/1 · principal Reduce -28.6% 25,000 $63K
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal Sold out 47,000 $61Kbefore exit
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) NOTE 1.000% 4/1 · principal Sold out 59,000 $59Kbefore exit
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) NOTE 1.500% 9/0 · principal Reduce -52.3% 41,000 $57K
GUARDANT HEALTH INC (GH 1.25 02/15/31) DEBT 1.250% 2/1 · principal Reduce -29.6% 31,000 $57K
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal New 40,000 $57K
SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) NOTE 3.500%12/0 · principal Reduce -65.5% 20,000 $55K
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal New 44,000 $55K
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) NOTE 1.000% 9/1 · principal Reduce -23.4% 36,000 $53K
ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) NOTE 4.250%11/1 · principal New 32,000 $48K
MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) NOTE 4.000% 5/0 · principal New 18,000 $46K
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal New 44,000 $46K
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal New 42,000 $46K
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) NOTE 2.250% 4/0 · principal New 32,000 $45K
WAYFAIR INC (W 3.5 11/15/28) NOTE 3.500%11/1 · principal Reduce -42.4% 19,000 $43K
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) NOTE 1.750% 8/1 · principal New 43,000 $41K
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) NOTE 0.750%12/1 · principal New 36,000 $40K
UNITI GROUP INC (UNIT 7.5 12/01/27) NOTE 7.500%12/0 · principal Sold out 36,000 $39Kbefore exit
STRIDE INC (LRN 1.125 09/01/27) NOTE 1.125% 9/0 · principal Reduce -22.9% 27,000 $37K
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) NOTE 1.250%11/0 · principal New 31,000 $34K
CENTRUS ENERGY CORP (LEU 2.25 11/01/30) NOTE 2.250%11/0 · principal New 12,000 $32K
UPSTART HOLDINGS INC (UPST 2 10/01/29) NOTE 2.000%10/0 · principal New 25,000 $32K
STRATEGY INC (MSTR 0.625 03/15/30) NOTE 0.625% 3/1 · principal Reduce -42.5% 23,000 $29K
BURLINGTON STORES INC (BURL 1.25 12/15/27) NOTE 1.250%12/1 · principal New 16,000 $24K
COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) NOTE 2.875% 2/1 · principal Sold out 19,000 $22Kbefore exit
FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) NOTE 11/0 · principal Sold out 20,000 $20Kbefore exit
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D · principal New 850 $439
BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) UNIT 02/01/2027 · principal New 200 $252

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 444$256.8MVUS, VDI, VEM, CGAU, BAP
Q1 2026 432$211.6MVUS, VDI, BAP, CGAU, VEM
Q4 2025 426$208.0MVUS, VDI, CGAU, BAP, HDB
Q3 2025Amended 403$177.9MSSRM, IBN, WB, CGAU, HDB
Q2 2025Amended 376$159.8MIBN, CGAU, VCLN, AAPL, MSFT
Q1 2025Amended 349$150.5MIBN, CGAU, AAPL, VCLN, MMYT
Q4 2024 461$244.5MOCCI, APP, PLTR, HYG, JNK
Q3 2024 453$213.5MOCCI, HYG, APP, TPVG, CEG
Q2 2024 447$203.8MOXFORD LANE CAP CORP, REGN, NVDA, VRTX, TPVG
Q1 2024 421$187.9MTCPC, FANG, OXFORD LANE CAP CORP, REGN, NVDA