FMR LLC

13F filer, CIK 315066, BOSTON, MA

FMR LLC reported $1,961,271,425,547 across 5,416 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 36.44% of the portfolio.

Filed 2026-02-17 (acceptance time not in the bulk data set), ingested 2026-10-07 03:01:36 UTC13F-HR 0000315066-26-000611

Period: 2025-12-31
Reported value: $1.96T
Holdings: 5,416
Top 10 weight: 36.44%
New: 345
Sold out: 296

Part of the filer group FMR LLC

Fidelity Diversifying Solutions LLC Fidelity Institutional Asset Management Trust Co +9 others

How groups are built

Stakes and trades reported after 2025-12-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

KRSA KORSANA BIOSCIENCES INC: 13G/A 3,144,797 shares, 6.9% of the class, 13G/A filed 2026-10-07, 0000315066-26-002345 Timeline
Accepted 2026-10-07 15:47:11 UTC, ingested 2026-10-07 15:48:31 UTC
EIKN EIKON THERAPEUTICS INC: 13G/A 5,520,152 shares, 10.2% of the class, 13G/A filed 2026-10-07, 0000315066-26-002331 Timeline
Accepted 2026-10-07 15:47:11 UTC, ingested 2026-10-07 15:48:30 UTC

Largest buys vs the previous quarter

Security	Shares change	Approx. value
NFLXadded	+174,726,009	$16.4B
BAadded	+9,317,466	$2.02B
COHRadded	+10,755,793	$1.99B
NOWadded	+12,321,888	$1.89B
WDCadded	+10,037,079	$1.73B

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
METAreduced	-7,659,737	-$5.06B
MSFTreduced	-9,538,744	-$4.61B
TSMreduced	-12,054,686	-$3.66B
UBERreduced	-29,379,129	-$2.4B
NVDAreduced	-11,643,333	-$2.17B

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0000315066-26-000611, largest first. % of portfolio is the value over $1,961,265,607,235, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Latest event	Timeline
CGMMCAPITAL GROUP EQUITY ETF TR	9	$260	<0.01%	new		Timeline
SPRUSPRUCE POWER HOLDING CORP	50	$255	<0.01%	new		Timeline
RISRTIDAL TRUST I	7	$253	<0.01%	+6		Timeline
XRMIGLOBAL X FDS	14	$250	<0.01%	+13		Timeline
CARYANGEL OAK FUNDS TRUST	119	$247	<0.01%	-6		Timeline
BUFFINNOVATOR ETFS TRUST	5	$246	<0.01%	new		Timeline
CTSOCYTOSORBENTS CORP	384	$245	<0.01%	new		Timeline
GGMEINVESCO EXCHANGE TRADED FD T	4	$243	<0.01%	0		Timeline
QNCXQUINCE THERAPEUTICS INC	70	$235	<0.01%	new		Timeline
MERSANA THERAPEUTICS INCMERSANA THERAPEUTICS INC	8	$231	<0.01%	-4,856
OPHCOPTIMUMBANK HLDGS INC	54	$230	<0.01%	new		Timeline
CGBLCAPITAL GROUP CORE BALANCED	6	$212	<0.01%	new		Timeline
CNVSCINEVERSE CORP	100	$211	<0.01%	0		Timeline
RRGBRED ROBIN GOURMET BURGERS IN	50	$202	<0.01%	0		Timeline
BTOPBITWISE FUNDS TRUST	7	$201	<0.01%	new		Timeline
NXENEXGEN ENERGY LTD	22	$200	<0.01%	0		Timeline
MOGO INCMOGO INC	180	$195	<0.01%	0
NFJVIRTUS DIVIDEND INTEREST & P	15	$193	<0.01%	new		Timeline
OXY/WSOCCIDENTAL PETE CORP	10	$193	<0.01%	-1		Timeline
TYGOTIGO ENERGY INC	140	$193	<0.01%	+40		Timeline
ARKFARK ETF TR	4	$191	<0.01%	new		Timeline
MLCOMELCO RESORTS AND ENTMNT LTD	25	$189	<0.01%	0		Timeline
CAIECALAMOS ETF TR	7	$187	<0.01%	new		Timeline
GCTSGCT SEMICONDUCTOR HLDG INC	151	$181	<0.01%	0		Timeline
MLPDGLOBAL X FDS	7	$175	<0.01%	+6		Timeline
XYZYTIDAL TRUST II	5	$170	<0.01%	new		Timeline
FNKFIRST TR EXCHANGE-TRADED ALP	3	$167	<0.01%	0		Timeline
STPZPIMCO ETF TR	3	$160	<0.01%	-2		Timeline
WNTRTIDAL TRUST II	4	$159	<0.01%	-114		Timeline
UTESETFIS SER TR I	2	$158	<0.01%	+1		Timeline
KVHIKVH INDS INC	22	$153	<0.01%	0		Timeline
AOHYANGEL OAK FUNDS TRUST	138	$153	<0.01%	+7		Timeline
PYPRINCIPAL EXCHANGE TRADED FD	29	$153	<0.01%	+2		Timeline
FBYTIDAL TRUST II	12	$151	<0.01%	new		Timeline
CGDGCAPITAL GROUP DIVIDEND GROWE	4	$143	<0.01%	new		Timeline
PLCECHILDRENS PL INC NEW	35	$139	<0.01%	-553		Timeline
CBFVCB FINL SVCS INC	4	$139	<0.01%	-6		Timeline
HFROHIGHLAND OPPS & INCOME FD	23	$138	<0.01%	0		Timeline
SNOYTIDAL TRUST II	11	$134	<0.01%	new		Timeline
WATTENERGOUS CORP	33	$132	<0.01%	new		Timeline
ACVVIRTUS DIVERSIFIED INCM & CO	5	$131	<0.01%	+4		Timeline
IZRLARK ETF TR	4	$120	<0.01%	new		Timeline
BABOTIDAL TRUST II	9	$119	<0.01%	new		Timeline
RDYYTIDAL TRUST II	3	$113	<0.01%	new		Timeline
RWXSPDR INDEX SHS FDS	4	$112	<0.01%	0		Timeline
RJETREPUBLIC AWYS HLDGS INC	6	$110	<0.01%	new		Timeline
TQQYGRANITESHARES ETF TR	7	$110	<0.01%	new		Timeline
ZEOZEO ENERGY CORP	100	$109	<0.01%	+36		Timeline
WTREWISDOMTREE TR	5	$106	<0.01%	+4		Timeline
CGIECAPITAL GROUP INTERNATIONAL	3	$104	<0.01%	new		Timeline
BWENBROADWIND INC	37	$104	<0.01%	new		Timeline
XHLFBONDBLOXX ETF TRUST	2	$101	<0.01%	0		Timeline
CGGECAPITAL GROUP GLOBAL EQUITY	3	$95	<0.01%	new		Timeline
SOTKSONO TEK CORP	23	$95	<0.01%	0		Timeline
MXMAGNACHIP SEMICONDUCTOR CORP	37	$94	<0.01%	0		Timeline
DGREWISDOMTREE TR	3	$94	<0.01%	new		Timeline
BOTJBANK OF THE JAMES FINL GP IN	5	$93	<0.01%	0		Timeline
NANCTIDAL TRUST I	2	$91	<0.01%	new		Timeline
FTPAPUTNAM ETF TRUST	10	$91	<0.01%	new		Timeline
GOROGOLD RESOURCE CORP	109	$90	<0.01%	-1,891		Timeline
AMYYGRANITESHARES ETF TR	4	$90	<0.01%	new		Timeline
FIXDFIRST TR EXCHNG TRADED FD VI	2	$89	<0.01%	0		Timeline
PHYLPGIM ETF TR	25	$89	<0.01%	+9		Timeline
SCLXSCILEX HOLDING CO	7	$85	<0.01%	0		Timeline
LIDRAEYE INC	45	$83	<0.01%	new		Timeline
CDEIMORGAN STANLEY ETF TRUST	1	$83	<0.01%	new		Timeline
PREFPRINCIPAL EXCHANGE TRADED FD	43	$82	<0.01%	+1		Timeline
AMDYTIDAL TRUST II	2	$76	<0.01%	new		Timeline
AIYYTIDAL TRUST II	4	$70	<0.01%	new		Timeline
GSIDGOLDMAN SACHS ETF TR	1	$69	<0.01%	new		Timeline
VHCVIRNETX HLDG CORP	4	$69	<0.01%	-3		Timeline
PSCPRINCIPAL EXCHANGE TRADED FD	12	$68	<0.01%	+5		Timeline
ACSITIDAL TRUST I	1	$67	<0.01%	0		Timeline
APVOAPTEVO THERAPEUTICS INC	7	$66	<0.01%	new		Timeline
DVLTDATAVAULT AI INC	100	$65	<0.01%	new		Timeline
BSMWINVESCO EXCH TRD SLF IDX FD	3	$65	<0.01%	-50		Timeline
GCCWISDOMTREE TR	3	$63	<0.01%	new		Timeline
MSFOTIDAL TRUST II	4	$62	<0.01%	new		Timeline
CGCVCAPITAL GROUP CONSERVATIVE E	2	$61	<0.01%	new		Timeline
USMCPRINCIPAL EXCHANGE TRADED FD	9	$59	<0.01%	0		Timeline
GUSAGOLDMAN SACHS ETF TRUST II	1	$59	<0.01%	new		Timeline
ETHGRAYSCALE ETHEREUM STAKING	2	$56	<0.01%	0		Timeline
TOONKARTOON STUDIOS INC.	78	$56	<0.01%	-20		Timeline
GXUSGOLDMAN SACHS ETF TRUST II	1	$56	<0.01%	new		Timeline
GSCGOLDMAN SACHS ETF TR	1	$54	<0.01%	new		Timeline
BHYBDBX ETF TR	1	$54	<0.01%	new		Timeline
GVUSGOLDMAN SACHS ETF TR	1	$54	<0.01%	new		Timeline
YSPYGRANITESHARES ETF TR	3	$54	<0.01%	new		Timeline
APLYTIDAL TRUST II	4	$53	<0.01%	new		Timeline
EVHYMORGAN STANLEY ETF TRUST	1	$53	<0.01%	new		Timeline
TIPZPIMCO ETF TR	1	$52	<0.01%	0		Timeline
EVSBMORGAN STANLEY ETF TRUST	1	$51	<0.01%	new		Timeline
DABSDOUBLELINE ETF TRUST	1	$51	<0.01%	new		Timeline
USINWISDOMTREE TR	1	$51	<0.01%	0		Timeline
DMBSDOUBLELINE ETF TRUST	1	$50	<0.01%	new		Timeline
EVSMMORGAN STANLEY ETF TRUST	1	$50	<0.01%	new		Timeline
EVYMMORGAN STANLEY ETF TRUST	1	$50	<0.01%	new		Timeline
EVLNMORGAN STANLEY ETF TRUST	1	$49	<0.01%	new		Timeline
VFQYVANGUARD WELLINGTON FD	0	$47	<0.01%	0	Amount filed as zero, left out of ratios.	Timeline
ABNYTIDAL TRUST II	1	$47	<0.01%	new		Timeline
IGMEBITWISE FUNDS TRUST	2	$47	<0.01%	new		Timeline
XSORXSOURCE CAPITAL	1	$46	<0.01%	new		Timeline
KTFDWS MUN INCOME TR	5	$45	<0.01%	new		Timeline
MTGPWISDOMTREE TR	1	$45	<0.01%	0		Timeline
SMWBSIMILARWEB LTD	6	$45	<0.01%	0		Timeline
BRKCTIDAL TRUST II	1	$45	<0.01%	new		Timeline
QIGWISDOMTREE TR	1	$45	<0.01%	0		Timeline
AIOVIRTUS ARTIFICIAL INTELLIGEN	2	$44	<0.01%	0		Timeline
KLXEKLX ENERGY SERVICES HOLDINGS	23	$43	<0.01%	-89		Timeline
SEMYGRANITESHARES ETF TR	2	$42	<0.01%	new		Timeline
PYPYTIDAL TRUST II	1	$41	<0.01%	new		Timeline
STKSTHE ONE GROUP HOSPITALITY IN	22	$39	<0.01%	-8		Timeline
NXTEINVESTMENT MANAGERS SER TR I	1	$39	<0.01%	new		Timeline
EBMTEAGLE BANCORP MONT INC	2	$38	<0.01%	-4,403		Timeline
GIPRGENERATION INCOME PPTYS INC	60	$38	<0.01%	new		Timeline
NTSEWISDOMTREE TR	1	$38	<0.01%	new		Timeline
CVNYTIDAL TRUST II	1	$37	<0.01%	new		Timeline
OARKTIDAL TRUST II	1	$36	<0.01%	new		Timeline
TYLGGLOBAL X FDS	1	$36	<0.01%	new		Timeline
GOPTIDAL TRUST I	1	$36	<0.01%	new		Timeline
GDOCGOLDMAN SACHS ETF TR	1	$35	<0.01%	new		Timeline
IQSTIQSTEL INC	12	$35	<0.01%	new		Timeline
GMEYTIDAL TRUST II	1	$35	<0.01%	new		Timeline
BBUBROOKFIELD BUSINESS PARTNERS L	1	$35	<0.01%	0		Timeline
YBITTIDAL TRUST II	1	$34	<0.01%	new		Timeline
CGICCAPITAL GROUP INTERNATIONAL	1	$33	<0.01%	new		Timeline
GFLWVICTORY PORTFOLIOS II	1	$32	<0.01%	new		Timeline
DFVEDOUBLELINE ETF TRUST	1	$32	<0.01%	new		Timeline
EMMFWISDOMTREE TR	1	$32	<0.01%	-5		Timeline
IETHBITWISE FUNDS TRUST	1	$31	<0.01%	new		Timeline
CGXUCAPITAL GROUP INTL FOCUS EQT	1	$30	<0.01%	new		Timeline
CCEFCALAMOS ETF TR	1	$29	<0.01%	new		Timeline
WYYWIDEPOINT CORP	5	$29	<0.01%	new		Timeline
ELDWISDOMTREE TR	1	$29	<0.01%	0		Timeline
QSMLWISDOMTREE TR	1	$29	<0.01%	new		Timeline
PEPSMORGAN STANLEY ETF TRUST	1	$29	<0.01%	new		Timeline
RBLYTIDAL TRUST II	1	$29	<0.01%	new		Timeline
YLDPRINCIPAL EXCHANGE TRADED FD	15	$28	<0.01%	+1		Timeline
FTEKFUEL TECH INC	18	$28	<0.01%	new		Timeline
DYLGGLOBAL X FDS	1	$27	<0.01%	0		Timeline
CAIQCALAMOS ETF TR	1	$26	<0.01%	new		Timeline
DCMTDOUBLELINE ETF TRUST	1	$26	<0.01%	new		Timeline
JPIEJ P MORGAN EXCHANGE TRADED F	5	$25	<0.01%	-2		Timeline
RAAAADVISOR MANAGED PORTFOLIOS	1	$25	<0.01%	new		Timeline
PCLN2023 ETF SERIES TRUST	1	$25	<0.01%	new		Timeline
PGRIFRANKLIN TEMPLETON ETF TR	1	$25	<0.01%	new		Timeline
RCLOADVISOR MANAGED PORTFOLIOS	1	$25	<0.01%	new		Timeline
TENJISHARES TR	1	$25	<0.01%	new		Timeline
GTRWISDOMTREE TR	1	$25	<0.01%	new		Timeline
CADBX ETF TR	1	$25	<0.01%	new		Timeline
LSPDLIGHTSPEED COMMERCE INC	2	$24	<0.01%	0		Timeline
PALIPALISADE BIO INC	10	$24	<0.01%	new		Timeline
YQQQTIDAL TRUST II	2	$24	<0.01%	-22		Timeline
CRCOTIDAL TRUST II	1	$24	<0.01%	new		Timeline
TLTXGLOBAL X FDS	1	$24	<0.01%	new		Timeline
NUGYGRANITESHARES ETF TR	1	$23	<0.01%	new		Timeline
FFLSNORTHERN LTS FD TR II	1	$23	<0.01%	new		Timeline
HYRMDBX ETF TR	1	$23	<0.01%	new		Timeline
RYLGGLOBAL X FDS	1	$22	<0.01%	-118		Timeline
MAGGMADISON ETFS TRUST	1	$21	<0.01%	new		Timeline
AZYYGRANITESHARES ETF TR	1	$21	<0.01%	new		Timeline
NOTVINOTIV INC	35	$20	<0.01%	-39		Timeline
SPRETIDAL TRUST I	1	$20	<0.01%	new		Timeline
FBYYGRANITESHARES ETF TR	1	$20	<0.01%	new		Timeline
CGNTCOGNYTE SOFTWARE LTD	2	$19	<0.01%	0		Timeline
BBYYGRANITESHARES ETF TR	1	$19	<0.01%	new		Timeline
Applied Therapeutics IncApplied Therapeutics Inc	184	$18	<0.01%	-17,298
ABTCAMERICAN BITCOIN CORP.	10	$17	<0.01%	new		Timeline
SKY QUARRY INC.SKY QUARRY INC.	76	$17	<0.01%	new
QRMIGLOBAL X FDS	1	$16	<0.01%	0		Timeline
TSMYTIDAL TRUST II	1	$16	<0.01%	new		Timeline
HYINWISDOMTREE TR	1	$16	<0.01%	0		Timeline
NCVVIRTUS CONVERTIBLE & INCOME	1	$15	<0.01%	0		Timeline
DXLGDESTINATION XL GROUP INC	16	$15	<0.01%	-7,869		Timeline
SMYYGRANITESHARES ETF TR	1	$13	<0.01%	new		Timeline
YDESYD BIO LTD	1	$12	<0.01%	0		Timeline
DISOTIDAL TRUST II	1	$12	<0.01%	new		Timeline
MSTKETF OPPORTUNITIES TRUST	1	$11	<0.01%	new		Timeline
SBDSSOLO BRANDS INC	2	$10	<0.01%	new		Timeline
FATAQFAT BRANDS INC CL A COM (DE)	32	$10	<0.01%	new		Timeline
SSYSSTRATASYS LTD	1	$9	<0.01%	0		Timeline
DMADESTRA MULTI-ALTERNATIVE FD	1	$9	<0.01%	new		Timeline
TRIBTRINITY BIOTECH INVT LTD	11	$9	<0.01%	new		Timeline
BNKKBONK INC	3	$8	<0.01%	new		Timeline
RKTOROCKET ONE INC	8	$8	<0.01%	new		Timeline
ARCOARCOS DORADOS HLDGS INC	1	$7	<0.01%	new		Timeline
BDSXBIODESIX INC	1	$7	<0.01%	0		Timeline
KSCPKNIGHTSCOPE INC	2	$7	<0.01%	new		Timeline
TRONTRON INC	6	$7	<0.01%	-15		Timeline
AGPUAXE COMPUTE INC	1	$7	<0.01%	new		Timeline
PFNPIMCO INCOME STRATEGY FD II	1	$6	<0.01%	new		Timeline
ZTRVIRTUS TOTAL RETURN FD INC	1	$6	<0.01%	-4		Timeline
HIPSGRANITESHARES ETF TR	0	$6	<0.01%	new	Amount filed as zero, left out of ratios.	Timeline
GNPXGENPREX INC	3	$5	<0.01%	new		Timeline
WKHSWORKHORSE GROUP INC	1	$5	<0.01%	new		Timeline
RMTIROCKWELL MED INC	6	$5	<0.01%	0		Timeline
NVVENUVVE HOLDING CORP	2	$5	<0.01%	new		Timeline
DIPSTIDAL TRUST II	0	$5	<0.01%	new	Amount filed as zero, left out of ratios.	Timeline
IMNNIMUNON INC	1	$4	<0.01%	new		Timeline
CETXCEMTREX INC	1	$3	<0.01%	new		Timeline
OPTXSYNTEC OPTICS HLDGS INC	1	$3	<0.01%	0		Timeline
NNDMNANO DIMENSION LTD	2	$3	<0.01%	0		Timeline
ASRVAMERISERV FINL INC	1	$3	<0.01%	0		Timeline
BZFDBUZZFEED INC	3	$3	<0.01%	-173		Timeline
TWNPQTWIN HOSPITALITY GROUP INC CL	4	$3	<0.01%	new		Timeline
FABTQFAT BRANDS INC COM CL B (DE)	2	$3	<0.01%	new		Timeline
TRAWTRAWS PHARMA INC	2	$2	<0.01%	0		Timeline
MBOTMICROBOT MED INC	1	$2	<0.01%	-310		Timeline
GDHGGOLDEN HEAVEN GROUP HLDGS LT	1	$2	<0.01%	0		Timeline
FORAFORIAN INC	1	$2	<0.01%	new		Timeline
CGTXCOGNITION THERAPEUTICS INC	1	$1	<0.01%	0		Timeline
OPTTOCEAN PWR TECHNOLOGIES INC	3	$1	<0.01%	-1,292		Timeline
CHGAAVALON GLOBOCARE CORP	1	$1	<0.01%	new		Timeline
ADITXT INCADITXT INC	1	$1	<0.01%	new
XTIAXTI AEROSPACE INC	0	$0	0%	-1	Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.	Timeline
DLTHDULUTH HLDGS INC	0	$0	0%	0	Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.	Timeline
LSTALISATA THERAPEUTICS INC	0	$0	0%	0	Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.	Timeline
COSMCOSMOS HEALTH INC	0	$0	0%	-4,000	Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.	Timeline
COCPCOCRYSTAL PHARMA INC	0	$0	0%	new	Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.	Timeline
CENNCENNTRO INC	0	$0	0%	-4	Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.	Timeline
GEOVAX LABS INCGEOVAX LABS INC	1	$0	0%	0	Value filed as zero, left out of ratios.
ECDAECD AUTOMOTIVE DESIGN INCCOM P	1	$0	0%	new	Value filed as zero, left out of ratios.	Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

Security	Type	Amount	Value	Change
WBDWARNER BROS DISCOVERY INC Stock	call	200,000	$5.76M	+50,000
GTGOODYEAR TIRE & RUBR CO COM	put	6,200	$54.3K	new

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

The largest 100 of 192. All 192

Security	Type	Amount	Value	Change
ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3	principal	241,343,777	$806M	+44,362,202
WESTERN DIGITAL CORPWESTERN DIGITAL CORP NOTE 3.000%11/1	principal	25,416,000	$117M	+827,000
MKS INC.MKS INC. NOTE 1.250% 6/0	principal	74,773,000	$95.4M	-10,033,000
STRATEGY INCSTRATEGY INC NOTE 2.250% 6/1	principal	67,139,000	$74.2M	+58,519,000
SEAGATE HDD CAYMANSEAGATE HDD CAYMAN NOTE 3.500% 6/0	principal	19,504,000	$65.5M	-489,000
ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0	principal	51,831,000	$61.7M	-6,810,000
GRANITE CONSTR INCGRANITE CONSTR INC NOTE 3.750% 5/1	principal	23,845,000	$60.5M	-163,000
REDFIN CORPREDFIN CORP NOTE 0.500% 4/0	principal	57,134,000	$53.5M	+1,866,000
RIOT PLATFORMS INCRIOT PLATFORMS INC NOTE 0.750% 1/1	principal	43,509,000	$49.1M	new
COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.250% 4/0	principal	45,954,000	$47M	-12,897,000
TRAVERE THERAPEUTICS INCTRAVERE THERAPEUTICS INC CNV	principal	30,262,000	$43M	+26,505,000
BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC NOTE 2.500% 3/1	principal	22,312,000	$42.1M	+16,045,000
VENTAS RLTY LTD PARTNERSHIPVENTAS RLTY LTD PARTNERSHIP NOTE 3.750% 6/0	principal	29,173,000	$41.2M	-2,430,000
LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 1.500%12/1	principal	6,504,000	$34.5M	-289,000
CYTOKINETICS INCCYTOKINETICS INC NOTE 3.500% 7/0	principal	23,885,000	$34M	-7,140,000
LYFT INCLYFT INC Convertible	principal	28,145,000	$33.8M	-7,109,000
WOLFSPEED INCWOLFSPEED INC NOTE 2.500% 6/1	principal	22,336,000	$33.1M	new
PG&E CORPPG&E CORP NOTE 4.250%12/0	principal	31,809,000	$32.7M	+8,124,000
MACOM TECH SOLUTIONS HLDGS IMACOM TECH SOLUTIONS HLDGS I NOTE 0.250% 3/1	principal	14,024,000	$29.1M	0
ALNYLAM PHARMACEUTICALS INCALNYLAM PHARMACEUTICALS INC NOTE 1.000% 9/1	principal	19,494,000	$28.7M	+2,800,000
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 0.875%12/0	principal	20,940,000	$27.2M	0
LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500% 6/1	principal	9,476,000	$26.9M	-582,000
INTERDIGITAL INCINTERDIGITAL INC NOTE 3.500% 6/0	principal	6,126,000	$25.2M	0
AIRBNB INC CLASS AAIRBNB INC CLASS A CLASS A	principal	25,500,000	$25.2M	-1,000,000
FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1	principal	24,081,000	$25M	-500,000
GRANITE CONSTR INCGRANITE CONSTR INC NOTE 3.250% 6/1	principal	15,344,000	$24.5M	0
STRATEGY INCSTRATEGY INC NOTE 0.625% 9/1	principal	19,982,000	$23.3M	+8,235,000
SNOWFLAKE INCSNOWFLAKE INC NOTE 10/0	principal	14,155,000	$21.9M	+1,517,000
RIVIAN AUTOMOTIVE INCRIVIAN AUTOMOTIVE INC NOTE 3.625%10/1	principal	18,867,000	$21.1M	-3,947,000
RIVIAN AUTOMOTIVE INCRIVIAN AUTOMOTIVE INC NOTE 4.625% 3/1	principal	16,491,000	$20.7M	0
ADVANCED ENERGY INDSADVANCED ENERGY INDS NOTE 2.500% 9/1	principal	12,393,000	$20.3M	+2,568,000
LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1	principal	13,641,000	$19.8M	+1,066,000
LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500%12/1	principal	5,324,000	$19.7M	-2,759,000
DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BND	principal	19,060,000	$19.6M	0
PELOTON INTERACTIVE INCPELOTON INTERACTIVE INC NOTE 2/1	principal	19,314,000	$19M	0
LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DEL NOTE 2.250% 8/1	principal	14,984,000	$19M	0
SNOWFLAKE INCSNOWFLAKE INC NOTE 10/0	principal	12,670,000	$18.8M	-11,320,000
LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN Convertible	principal	16,799,000	$17.6M	new
ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 0.500% 3/0	principal	18,640,000	$17.6M	-229,000
CLOUDFLARE INCCLOUDFLARE INC NOTE 8/1	principal	14,508,000	$17M	0
SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC NOTE 3.500% 3/0	principal	18,570,000	$16.5M	0
PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0	principal	16,022,000	$16.5M	-44,597,000
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD Convertible	principal	12,195,000	$16.2M	0
CABLE ONE INCCABLE ONE INC NOTE 3/1	principal	15,921,000	$15.7M	+13,921,000
MIRUM PHARMACEUTICALS INCMIRUM PHARMACEUTICALS INC NOTE 4.000% 5/0	principal	6,055,000	$15.6M	0
EXPEDIA GROUP INCEXPEDIA GROUP INC NOTE 2/1	principal	13,824,000	$15.4M	-500,000
DIGITALOCEAN HLDGS INCDIGITALOCEAN HLDGS INC CNV	principal	16,000,000	$15.4M	0
DATADOG INCDATADOG INC NOTE 12/0	principal	15,065,000	$15M	new
BLACKLINE INCBLACKLINE INC NOTE 1.000% 6/0	principal	14,136,000	$14.9M	0
FRESHPET INCFRESHPET INC NOTE 3.000% 4/0	principal	12,686,000	$14.8M	-623,000
NEXTERA ENERGY CAP HLDGS INCNEXTERA ENERGY CAP HLDGS INC NOTE 3.000% 3/0	principal	11,935,000	$14.8M	0
EVERGY INCEVERGY INC NOTE 4.500%12/1	principal	12,014,000	$14.6M	-539,000
COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0	principal	14,340,000	$14.3M	0
UPSTART HLDGS INCUPSTART HLDGS INC NOTE 1.000%11/1	principal	16,337,000	$14.2M	new
APPLIED DIGITAL CORPAPPLIED DIGITAL CORP NOTE 2.750% 6/0	principal	5,147,000	$13.9M	new
GUARDANT HEALTH INCGUARDANT HEALTH INC DEBT 1.250% 2/1	principal	7,345,000	$13.4M	-583,000
MARA HOLDINGS INCMARA HOLDINGS INC NOTE 2.125% 9/0	principal	16,245,000	$13M	-27,146,000
DEXCOM INCDEXCOM INC NOTE 0.375% 5/1	principal	13,762,000	$12.7M	0
STRATEGY INCSTRATEGY INC NOTE12/0	principal	15,120,000	$12.4M	new
CENTRUS ENERGY CORPCENTRUS ENERGY CORP NOTE 2.250%11/0	principal	4,578,000	$12.3M	new
PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1	principal	11,080,000	$12.2M	0
CARDLYTICS INCCARDLYTICS INC NOTE 4.250% 4/0	principal	31,141,000	$12.1M	-3,450,000
MICROCHIP TECHNOLOGY INC.MICROCHIP TECHNOLOGY INC. NOTE 0.750% 6/0	principal	12,184,000	$11.9M	-500,000
AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 0.750%12/1	principal	10,726,000	$11.9M	new
TETRA TECH INC NEWTETRA TECH INC NEW DBCV 2.250% 8/1	principal	10,573,000	$11.5M	-3,052,000
GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0	principal	12,578,000	$11.3M	0
WEC ENERGY GROUP INCWEC ENERGY GROUP INC Convertible	principal	9,565,000	$11.2M	0
STRATEGY INCSTRATEGY INC NOTE 0.625% 3/1	principal	8,845,000	$11.1M	-22,495,000
IONIS PHARMACEUTICALS INCIONIS PHARMACEUTICALS INC NOTE 1.750% 6/1	principal	6,989,000	$11.1M	0
BURLINGTON STORES INCBURLINGTON STORES INC NOTE 1.250%12/1	principal	7,331,000	$10.9M	+3,328,000
WEC ENERGY GROUP INCWEC ENERGY GROUP INC NOTE 4.375% 6/0	principal	9,560,000	$10.8M	0
SPHERE ENTERTAINMENT COSPHERE ENTERTAINMENT CO Convertible	principal	3,935,000	$10.8M	0
ZYNGA INCZYNGA INC NOTE 12/1	principal	9,800,000	$10.7M	0
IRHYTHM HOLDINGS INCIRHYTHM HOLDINGS INC NOTE 1.500% 9/0	principal	7,678,000	$10.7M	0
FLUOR CORPFLUOR CORP NOTE 1.125% 8/1	principal	8,924,000	$10.2M	0
MARRIOTT VACATION WORLDWMARRIOTT VACATION WORLDW NOTE 1/1	principal	10,000,000	$9.96M	0
SOUTHERN COSOUTHERN CO NOTE 4.500% 6/1	principal	9,101,000	$9.71M	-3,785,000
BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible	principal	8,650,000	$9.71M	0
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1	principal	8,393,000	$9.7M	0
BOX INCBOX INC NOTE 1.500% 9/1	principal	9,813,000	$9.54M	0
UGI CORP NEWUGI CORP NEW NOTE 5.000% 6/0	principal	6,605,000	$9.36M	0
CENTERPOINT ENERGY INCCENTERPOINT ENERGY INC NOTE 4.250% 8/1	principal	8,478,000	$9.27M	0
ITRON INCITRON INC NOTE 1.375% 7/1	principal	9,046,000	$9.14M	+2,441,000
AEROVIRONMENT INCAEROVIRONMENT INC NOTE 7/1	principal	8,420,000	$9.14M	-3,556,000
REPLIGEN CORPREPLIGEN CORP NOTE 1.000%12/1	principal	8,141,000	$8.89M	0
CMS ENERGY CORPCMS ENERGY CORP NOTE 3.375% 5/0	principal	8,302,000	$8.88M	+3,259,000
HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC NOTE 1.000% 8/1	principal	6,654,000	$8.83M	-2,882,000
NORTHERN OIL & GAS INCNORTHERN OIL & GAS INC NOTE 3.625% 4/1	principal	9,054,000	$8.72M	0
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1	principal	9,691,000	$8.7M	0
GUIDEWIRE SOFTWARE INCGUIDEWIRE SOFTWARE INC NOTE 1.250%11/0	principal	7,784,000	$8.56M	new
MARA HOLDINGS INCMARA HOLDINGS INC NOTE 6/0	principal	10,264,000	$8.54M	new
NUTANIX INCNUTANIX INC Convertible	principal	7,581,000	$8.51M	0
TRANSMEDICS GROUP INCTRANSMEDICS GROUP INC NOTE 1.500% 6/0	principal	5,431,000	$8.12M	0
DROPBOX INCDROPBOX INC NOTE 3/0	principal	8,033,000	$8.1M	0
HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 2.500% 6/0	principal	7,677,000	$7.95M	+2,752,000
BILL HOLDINGS INCBILL HOLDINGS INC NOTE 4/0	principal	8,412,000	$7.73M	new
CNX RES CORPCNX RES CORP NOTE 2.250% 5/0	principal	2,694,000	$7.71M	-1,340,000
AMERICAN WTR CAP CORPAMERICAN WTR CAP CORP NOTE 3.625% 6/1	principal	7,694,000	$7.66M	-3,655,000
SNAP INCSNAP INC Convertible	principal	8,758,000	$7.64M	0
SOLARIS ENERGY INFRAS INCSOLARIS ENERGY INFRAS INC NOTE 0.250%10/0	principal	7,044,000	$7.62M	new

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

The largest 100 of 296. All 296

Security	Shares before	Value before	Type
MTSRMETSERA INC	13,891,986	$727M	shares
TOTALENERGIES SE -SPON ADRTOTALENERGIES SE -SPON ADR	11,736,874	$701M	shares
SPRSPIRIT AEROSYSTEMS HLDGS INC	12,533,436	$484M	shares
UNILEVER PLCUNILEVER PLC	8,107,217	$481M	shares
MERUS N VMERUS N V	2,810,935	$265M	shares
CUSHMAN & WAKEFIELD UK HOLDCCUSHMAN & WAKEFIELD UK HOLDC	7,899,968	$126M	shares
MR COOPER GROUP INCMR COOPER GROUP INC	428,820	$90.4M	shares
KKELLANOVA	945,637	$77.6M	shares
AKROAKERO THERAPEUTICS INC	1,079,657	$51.3M	shares
BLOOM ENERGY CORPBLOOM ENERGY CORP	11,205,000	$46.2M	principal
INTERPUBLIC GROUP COSINTERPUBLIC GROUP COS	1,200,613	$33.5M	shares
LNWOLIGHT & WONDER INC	349,378	$29.3M	shares
LXPLXP INDUSTRIAL TRUST	3,105,371	$27.8M	shares
STUBSTUBHUB HLDGS INC	1,253,740	$21.1M	shares
HPPHUDSON PAC PPTYS INC	6,334,398	$17.5M	shares
VIMEO INCVIMEO INC	2,201,735	$17.1M	shares
VNETVNET GROUP INC	1,647,094	$17M	shares
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC	12,768,000	$15.6M	principal
NAKANAKAMOTO INC	11,571,300	$12.4M	shares
BLOOM ENERGY CORPBLOOM ENERGY CORP	2,419,000	$10.8M	principal
SHIFT4 PMTS INCSHIFT4 PMTS INC	104,800	$9.99M	shares
FIVERR INTL LTDFIVERR INTL LTD	10,000,000	$9.95M	principal
DVSDOLLY VARDEN SILVER LTD	1,959,415	$9.84M	shares
SOUTHERN COSOUTHERN CO	8,224,000	$9.26M	principal
NOAHNOAH HLDGS LTD	721,400	$8.36M	shares
Shift4 Payments IncShift4 Payments Inc	7,764,000	$7.97M	principal
PENN ENTERTAINMENT INCPENN ENTERTAINMENT INC	7,297,000	$7.53M	principal
VERINT SYS INCVERINT SYS INC	319,988	$6.48M	shares
FURYFURY GOLD MINES LIMITED	9,536,321	$6.17M	shares
ALEALLETE INC	89,133	$5.92M	shares
LLYVALIBERTY MEDIA CORP	59,920	$5.65M	shares
PROPROS Holdings Inc	237,574	$5.44M	shares
SPIRIT AEROSYSTEMS INCSPIRIT AEROSYSTEMS INC	3,437,000	$5.06M	principal
FIDELITY COVINGTON TRUSTFIDELITY COVINGTON TRUST	160,027	$4.8M	shares
Q2 HLDGS INCQ2 HLDGS INC	4,171,000	$4.31M	principal
LXLEXINFINTECH HLDGS LTD	782,196	$4.17M	shares
LLYVKLIBERTY MEDIA CORP DEL	39,669	$3.85M	shares
SHAKE SHACK INCSHAKE SHACK INC	3,500,000	$3.31M	principal
Rithm Property Trust IncRithm Property Trust Inc	1,285,420	$3.24M	shares
ODPTHE ODP CORP	110,545	$3.08M	shares
MREOMEREO BIOPHARMA GROUP PLC	1,454,900	$3M	shares
DISH NETWORK CORPORATIONDISH NETWORK CORPORATION	2,990,000	$2.95M	principal
VERINT SYS INCVERINT SYS INC	144,700	$2.93M	call
VERITEX HLDGS INCVERITEX HLDGS INC	77,084	$2.58M	shares
BOX INCBOX INC	1,997,000	$2.49M	principal
SLSRSOLARIS RES INC	319,831	$2.04M	shares
AVIDXCHANGE HOLDINGS INCAVIDXCHANGE HOLDINGS INC	160,245	$1.59M	shares
FFDIFIDELITY COVINGTON TRUST	45,000	$1.36M	shares
UMACUNUSUAL MACHS INC	87,000	$1.31M	shares
ZIMVIE INCZIMVIE INC	68,608	$1.3M	shares
NOODLES & CONOODLES & CO	1,640,214	$1.04M	shares
SAPIENS INTERNATIONAL CORPSAPIENS INTERNATIONAL CORP	22,853	$983K	shares
XEROX HOLDINGS CORPXEROX HOLDINGS CORP	2,000,000	$962K	principal
FIDELITY MERRIMACK STR TRFIDELITY MERRIMACK STR TR	14,998	$718K	shares
INFORMATICA INCINFORMATICA INC	24,710	$614K	shares
LIVEPERSON, INC.LIVEPERSON, INC.	912,374	$532K	shares
PREMIER INCPREMIER INC	14,107	$392K	shares
HANESBRANDS INCHANESBRANDS INC	58,200	$384K	shares
WIDEOPENWEST INCWIDEOPENWEST INC	56,749	$293K	shares
BRYBerry Corp	65,422	$247K	shares
NYXHNYXOAH S A	48,692	$224K	shares
POTBELLY CORPPOTBELLY CORP	10,505	$179K	shares
APUETRUST FOR PROFESSIONAL MANAG	4,201	$171K	shares
CORECARD CORPORATIONCORECARD CORPORATION	5,499	$148K	shares
FSMFORTUNA MNG CORP	15,000	$134K	shares
COMPANHIA PARANAENSE DE ENE…COMPANHIA PARANAENSE DE ENERGI	13,275	$130K	shares
Vital Energy IncVital Energy Inc	7,290	$123K	shares
INVESCOINVESCO	5,931	$123K	shares
GOVZISHARES TR	12,577	$122K	shares
VAIL RESORTS INCVAIL RESORTS INC	124,000	$122K	principal
HSIIHEIDRICK & STRUGGLES INTL IN	2,277	$113K	shares
MAC Copper LtdMAC Copper Ltd	8,727	$107K	shares
SCSSTEELCASE INC-CLASS A	5,676	$97.6K	shares
SCPHARMACEUTICALS INCSCPHARMACEUTICALS INC	15,274	$86.6K	shares
ZROZPIMCO ETF TR	1,230	$83.6K	shares
CENTRAIS ELETRICAS BRASILEIRCENTRAIS ELETRICAS BRASILEIR	7,982	$82.7K	shares
MRC GLOBAL INCMRC GLOBAL INC	5,527	$79.7K	shares
YieldMax MSTR Option Income…YieldMax MSTR Option Income Strat…	5,395	$75.3K	shares
APIETRUST FOR PROFESSIONAL MANAG	2,059	$73.1K	shares
Tourmaline Bio IncTourmaline Bio Inc	1,451	$69.4K	shares
IVERSIFIED ENERGY COMPANY PIVERSIFIED ENERGY COMPANY P	4,696	$65.6K	shares
89BIO INC89BIO INC	4,424	$65K	shares
ISHARES TRISHARES TR	2,422	$61K	shares
ARIS WATER SOLUTIONS INCARIS WATER SOLUTIONS INC	2,196	$54.2K	shares
PGREPARAMOUNT GROUP INC	7,959	$52.1K	shares
MPTMEDICAL PROPERTIES TRUST INC	10,000	$50.7K	put
INTEGRAL AD SCIENCE HLDNG COINTEGRAL AD SCIENCE HLDNG CO	4,943	$50.3K	shares
HARBORONE BANCORP INC NEWHARBORONE BANCORP INC NEW	3,459	$47K	shares
Surmodics IncSurmodics Inc	1,506	$45K	shares
ADAPYADAPTIMMUNE THERAPEUTICS PLC S	340,409	$44.3K	shares
IBTHISHARES TR	1,955	$44K	shares
IRBTQIROBOT CORP	10,229	$36.7K	shares
JRVRJAMES RIVER GROUP HOLDINGS I	6,532	$36.3K	shares
GUARANTY BANCSHARES INCGUARANTY BANCSHARES INC	576	$28.1K	shares
APCBTRUST FOR PROFESSIONAL MANAG	909	$27.1K	shares
FITESPDR SERIES TRUST	250	$21.4K	shares
MERIDIANLINK INCMERIDIANLINK INC	1,032	$20.6K	shares
UHGUNITED HOMES GROUP INC	4,552	$18.8K	shares
PERFORMANT HEALTHCARE INCPERFORMANT HEALTHCARE INC	2,077	$16.1K	shares
ILLRTRILLER GROUP INC COM	18,872	$15.7K	shares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0000315066-26-000611	base		2026-02-17	acceptance time not in the bulk data set	2026-10-07 03:01:36 UTC