# EDGAR Filing Document

**Accession Number:** 0000937567
**File Stem:** 0001999371-26-003352
**Filing Date:** 2026-2
**Character Count:** 20297
**Document Hash:** 40c044b6a5d79c56a637ecbb2eb43d12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-003352.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001999371-26-003352

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ONTARIO TEACHERS PENSION PLAN BOARD
- **CENTRAL INDEX KEY:** 0000937567

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10597
- **FILM NUMBER:** 26634511

**BUSINESS ADDRESS:**
- **STREET 1:** 160 FRONT STREET WEST, SUITE 3200
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J 0G4
- **BUSINESS PHONE:** 4167305300

**MAIL ADDRESS:**
- **STREET 1:** 160 FRONT STREET WEST, SUITE 3200
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J 0G4

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** ONTARIO TEACHERS PENSION PLAN BOARD<br>**Address:** 160 Front Street West Suite 3200<br>Toronto, A6 M5J 0G4

**Form 13F File Number:** 028-10597

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jonathan Law<br>**Title:** Managing Director Corporate  Investments Compliance<br>**Phone:** 4162285900

**Signature, Place, and Date of Signing:**

/s/ Jonathan Law  Toronto, A6  02-13-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 168

**Form 13F Information Table Value Total:** $4522095979

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                | Form 13F File Number   |
|:---|:---|:---|
|  | 2774719 Ontario Ltd | 028-25088              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBVIE INC | COM | 00287Y109 |  | 63612301 | 278403 | SH |  | SOLE |  | 278403 | 0 | 0 |
| AFFIRM HLDGS INC | NOTE 0.750%12/1 | 00827BAD8 |  | 2800000 | 2500000 | PRN |  | SOLE |  | 2500000 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 42345 | 312 | SH |  | SOLE |  | 312 | 0 | 0 |
| AIRBNB INC | NOTE3/1 | 009066AB7 |  | 6945028 | 7000000 | PRN |  | SOLE |  | 7000000 | 0 | 0 |
| ALARM COM HLDGS INC | NOTE1/1 | 011642AB1 |  | 2997108 | 3000000 | PRN |  | SOLE |  | 3000000 | 0 | 0 |
| AMEREN CORP | COM | 023608102 |  | 2743154 | 27470 | SH |  | SOLE |  | 27470 | 0 | 0 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 |  | 7021140 | 458000 | SH | Put | SOLE |  | 458000 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 3542784 | 30724 | SH |  | SOLE |  | 30724 | 0 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 |  | 893054 | 27821 | SH |  | SOLE |  | 27821 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 |  | 2457250 | 32294 | SH |  | SOLE |  | 32294 | 0 | 0 |
| ARAMARK | COM | 03852U106 |  | 1235289 | 33513 | SH |  | SOLE |  | 33513 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 4577871 | 79629 | SH |  | SOLE |  | 79629 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 52643898 | 572652 | SH |  | SOLE |  | 572652 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 82860353 | 3335763 | SH |  | SOLE |  | 3335763 | 0 | 0 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 116298482 | 717272 | SH |  | SOLE |  | 717272 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 |  | 1227121 | 10338 | SH |  | SOLE |  | 10338 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 149919440 | 2725808 | SH |  | SOLE |  | 2725808 | 0 | 0 |
| BANK MONTREAL QUE | COM | 063671101 |  | 1249094 | 9618 | SH |  | SOLE |  | 9618 | 0 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 2380203 | 118536 | SH |  | SOLE |  | 118536 | 0 | 0 |
| BEAZER HOMES USA INC | COM NEW | 07556Q881 |  | 7986380 | 394000 | SH | Put | SOLE |  | 394000 | 0 | 0 |
| BELLRING BRANDS INC | COMMON STOCK | 07831C103 |  | 261954 | 9800 | SH |  | SOLE |  | 9800 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 954154 | 14256 | SH |  | SOLE |  | 14256 | 0 | 0 |
| BJS WHSL CLUB HLDGS INC | COM | 05550J101 |  | 1848406 | 20531 | SH |  | SOLE |  | 20531 | 0 | 0 |
| BLACK HILLS CORP | COM | 092113109 |  | 3807826 | 54852 | SH |  | SOLE |  | 54852 | 0 | 0 |
| BLOCK INC | NOTE5/0 | 852234AJ2 |  | 6888136 | 7000000 | PRN |  | SOLE |  | 7000000 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 2779416 | 519 | SH |  | SOLE |  | 519 | 0 | 0 |
| BOSTON BEER INC | CL A | 100557107 |  | 5985222 | 30673 | SH |  | SOLE |  | 30673 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 21446599 | 224925 | SH |  | SOLE |  | 224925 | 0 | 0 |
| BOYD GAMING CORP | COM | 103304101 |  | 917523 | 10764 | SH |  | SOLE |  | 10764 | 0 | 0 |
| BRUNSWICK CORP | COM | 117043109 |  | 3506726 | 47235 | SH |  | SOLE |  | 47235 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 72062298 | 249480 | SH |  | SOLE |  | 249480 | 0 | 0 |
| CABLE ONE INC | NOTE 1.125% 3/1 | 12685JAG0 |  | 1016712 | 1250000 | PRN |  | SOLE |  | 1250000 | 0 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 6891338 | 62603 | SH |  | SOLE |  | 62603 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 206863470 | 853538 | SH |  | SOLE |  | 853538 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 99839278 | 1889464 | SH |  | SOLE |  | 1889464 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 2514278 | 4549 | SH |  | SOLE |  | 4549 | 0 | 0 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 |  | 1576292 | 34462 | SH |  | SOLE |  | 34462 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 1453891 | 37921 | SH |  | SOLE |  | 37921 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 1219309 | 5841 | SH |  | SOLE |  | 5841 | 0 | 0 |
| CHEWY INC | CL A | 16679L109 |  | 912180 | 27600 | SH |  | SOLE |  | 27600 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 3096641 | 83693 | SH |  | SOLE |  | 83693 | 0 | 0 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 1416902 | 12453 | SH |  | SOLE |  | 12453 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 3179291 | 40234 | SH |  | SOLE |  | 40234 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 1992617 | 66665 | SH |  | SOLE |  | 66665 | 0 | 0 |
| CONAGRA BRANDS INC | COM | 205887102 |  | 685164 | 39582 | SH |  | SOLE |  | 39582 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 742616 | 7477 | SH |  | SOLE |  | 7477 | 0 | 0 |
| COPT DEFENSE PROPERTIES | SHS BEN INT | 22002T108 |  | 2578394 | 92748 | SH |  | SOLE |  | 92748 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 5335298 | 6187 | SH |  | SOLE |  | 6187 | 0 | 0 |
| COTY INC | COM CL A | 222070203 |  | 741396 | 240713 | SH |  | SOLE |  | 240713 | 0 | 0 |
| COUSINS PPTYS INC | COM NEW | 222795502 |  | 2347243 | 91049 | SH |  | SOLE |  | 91049 | 0 | 0 |
| CROCS INC | COM | 227046109 |  | 418791 | 4897 | SH |  | SOLE |  | 4897 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 3657001 | 41150 | SH |  | SOLE |  | 41150 | 0 | 0 |
| CUBESMART | COM | 229663109 |  | 4621213 | 128189 | SH |  | SOLE |  | 128189 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 160319073 | 314074 | SH |  | SOLE |  | 314074 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 2261238 | 12288 | SH |  | SOLE |  | 12288 | 0 | 0 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 837396 | 23261 | SH |  | SOLE |  | 23261 | 0 | 0 |
| DAYFORCE INC | NOTE 0.250% 3/1 | 15677JAD0 |  | 4949956 | 5000000 | PRN |  | SOLE |  | 5000000 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 83504905 | 733980 | SH |  | SOLE |  | 733980 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 2494084 | 18785 | SH |  | SOLE |  | 18785 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 2921075 | 7008 | SH |  | SOLE |  | 7008 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 1597531 | 46359 | SH |  | SOLE |  | 46359 | 0 | 0 |
| DROPBOX INC | NOTE3/0 | 26210CAD6 |  | 5042199 | 5000000 | PRN |  | SOLE |  | 5000000 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 2988983 | 23174 | SH |  | SOLE |  | 23174 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 11461948 | 134451 | SH |  | SOLE |  | 134451 | 0 | 0 |
| EPR PPTYS | COM SH BEN INT | 26884U109 |  | 700197 | 14032 | SH |  | SOLE |  | 14032 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 1122932 | 17813 | SH |  | SOLE |  | 17813 | 0 | 0 |
| ESSEX PPTY TR INC | COM | 297178105 |  | 241269 | 922 | SH |  | SOLE |  | 922 | 0 | 0 |
| EVERGY INC | COM | 30034W106 |  | 3694018 | 50959 | SH |  | SOLE |  | 50959 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 |  | 927471 | 13775 | SH |  | SOLE |  | 13775 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 3551857 | 12537 | SH |  | SOLE |  | 12537 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 |  | 5145147 | 114924 | SH |  | SOLE |  | 114924 | 0 | 0 |
| FIVE BELOW INC | COM | 33829M101 |  | 1868154 | 9918 | SH |  | SOLE |  | 9918 | 0 | 0 |
| FORD MTR CO | NOTE3/1 | 345370CZ1 |  | 31212492 | 30000000 | PRN |  | SOLE |  | 30000000 | 0 | 0 |
| FOX CORP | CL A COM | 35137L105 |  | 1524313 | 20861 | SH |  | SOLE |  | 20861 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 113863906 | 369652 | SH |  | SOLE |  | 369652 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 4624658 | 99455 | SH |  | SOLE |  | 99455 | 0 | 0 |
| GENTEX CORP | COM | 371901109 |  | 2887854 | 124102 | SH |  | SOLE |  | 124102 | 0 | 0 |
| GFL ENVIRONMENTAL INC | SUB VTG SHS | 36168Q104 |  | 964427692 | 22450784 | SH |  | SOLE |  | 22450784 | 0 | 0 |
| GOODYEAR TIRE  RUBR CO | COM | 382550101 |  | 1169276 | 133479 | SH |  | SOLE |  | 133479 | 0 | 0 |
| GRAHAM HLDGS CO | COM CL B | 384637104 |  | 1800605 | 1639 | SH |  | SOLE |  | 1639 | 0 | 0 |
| GRAND CANYON ED INC | COM | 38526M106 |  | 2002871 | 12043 | SH |  | SOLE |  | 12043 | 0 | 0 |
| H WORLD GROUP LTD | NOTE 3.000% 5/0 | 44332NAB2 |  | 20418494 | 16000000 | PRN |  | SOLE |  | 16000000 | 0 | 0 |
| HAEMONETICS CORP MASS | NOTE3/0 | 405024AB6 |  | 1980399 | 2000000 | PRN |  | SOLE |  | 2000000 | 0 | 0 |
| HARLEY DAVIDSON INC | COM | 412822108 |  | 1173462 | 57270 | SH |  | SOLE |  | 57270 | 0 | 0 |
| HEALTHPEAK PROPERTIES INC | COM | 42250P103 |  | 6217605 | 386667 | SH |  | SOLE |  | 386667 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 2400836 | 8358 | SH |  | SOLE |  | 8358 | 0 | 0 |
| INGREDION INC | COM | 457187102 |  | 1459732 | 13239 | SH |  | SOLE |  | 13239 | 0 | 0 |
| INVITATION HOMES INC | COM | 46187W107 |  | 4269628 | 153639 | SH |  | SOLE |  | 153639 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 890961500 | 11050000 | SH |  | SOLE |  | 11050000 | 0 | 0 |
| JETBLUE AIRWAYS CORP | NOTE 0.500% 4/0 | 477143AP6 |  | 1475994 | 1500000 | PRN |  | SOLE |  | 1500000 | 0 | 0 |
| KB HOME | COM | 48666K109 |  | 4354852 | 77200 | SH | Put | SOLE |  | 77200 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 3792070 | 156374 | SH |  | SOLE |  | 156374 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 5789896 | 45741 | SH |  | SOLE |  | 45741 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 1539175 | 14698 | SH |  | SOLE |  | 14698 | 0 | 0 |
| LEAR CORP | COM NEW | 521865204 |  | 3546641 | 30948 | SH |  | SOLE |  | 30948 | 0 | 0 |
| MACYS INC | COM | 55616P104 |  | 1294886 | 58725 | SH |  | SOLE |  | 58725 | 0 | 0 |
| MARZETTI COMPANY | COM | 513847103 |  | 1882938 | 11452 | SH |  | SOLE |  | 11452 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 910777 | 2980 | SH |  | SOLE |  | 2980 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 30368101 | 46006 | SH |  | SOLE |  | 46006 | 0 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 576615 | 4151 | SH |  | SOLE |  | 4151 | 0 | 0 |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 |  | 2765883 | 59252 | SH |  | SOLE |  | 59252 | 0 | 0 |
| MURPHY USA INC | COM | 626755102 |  | 2902116 | 7192 | SH |  | SOLE |  | 7192 | 0 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 1829131 | 22847 | SH |  | SOLE |  | 22847 | 0 | 0 |
| NATIONAL STORAGE AFFILIATES | COM SHS BEN IN | 637870106 |  | 7205850 | 255436 | SH |  | SOLE |  | 255436 | 0 | 0 |
| NEW YORK TIMES CO | CL A | 650111107 |  | 3552013 | 51167 | SH |  | SOLE |  | 51167 | 0 | 0 |
| NEXSTAR MEDIA GROUP INC | COMMON STOCK | 65336K103 |  | 2405330 | 11846 | SH |  | SOLE |  | 11846 | 0 | 0 |
| NNN REIT INC | COM | 637417106 |  | 2696861 | 68051 | SH |  | SOLE |  | 68051 | 0 | 0 |
| NUTANIX INC | NOTE 0.250%10/0 | 67059NAH1 |  | 11213913 | 10000000 | PRN |  | SOLE |  | 10000000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 137305963 | 736225 | SH |  | SOLE |  | 736225 | 0 | 0 |
| OMEGA HEALTHCARE INVS INC | COM | 681936100 |  | 4800825 | 108273 | SH |  | SOLE |  | 108273 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 |  | 1774562 | 21976 | SH |  | SOLE |  | 21976 | 0 | 0 |
| ONE GAS INC | COM | 68235P108 |  | 2926230 | 37880 | SH |  | SOLE |  | 37880 | 0 | 0 |
| PARK HOTELS  RESORTS INC | COM | 700517105 |  | 5254832 | 502374 | SH |  | SOLE |  | 502374 | 0 | 0 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 1779611 | 46676 | SH |  | SOLE |  | 46676 | 0 | 0 |
| POLARIS INC | COM | 731068102 |  | 3154341 | 49871 | SH |  | SOLE |  | 49871 | 0 | 0 |
| PONY AI INC | SPONSORED ADS | 732908108 |  | 94141685 | 6492530 | SH |  | DFND | 1 | 6492530 | 0 | 0 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 |  | 6661828 | 138817 | SH |  | SOLE |  | 138817 | 0 | 0 |
| POST HLDGS INC | COM | 737446104 |  | 786160 | 7937 | SH |  | SOLE |  | 7937 | 0 | 0 |
| POST HLDGS INC | COM | 737446104 |  | 5249650 | 53000 | SH | Put | SOLE |  | 53000 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 862296 | 6017 | SH |  | SOLE |  | 6017 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 8553899 | 32963 | SH |  | SOLE |  | 32963 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 2050515 | 36376 | SH |  | SOLE |  | 36376 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 367792 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| RINGCENTRAL INC | NOTE3/1 | 76680RAH0 |  | 3265461 | 3311000 | PRN |  | SOLE |  | 3311000 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 1266841 | 64274 | SH |  | SOLE |  | 64274 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 854704 | 10548 | SH |  | SOLE |  | 10548 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 136683793 | 351309 | SH |  | SOLE |  | 351309 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 81721051 | 453653 | SH |  | SOLE |  | 453653 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 421448 | 1511 | SH |  | SOLE |  | 1511 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 177468242 | 669919 | SH |  | SOLE |  | 669919 | 0 | 0 |
| SEA LTD | NOTE 0.250% 9/1 | 81141RAG5 |  | 9714811 | 10000000 | PRN |  | SOLE |  | 10000000 | 0 | 0 |
| SEABRIDGE GOLD INC | COM | 811916105 |  | 49349998 | 1664634 | SH |  | DFND |  | 1664634 | 0 | 0 |
| SERVICE CORP INTL | COM | 817565104 |  | 2044685 | 26224 | SH |  | SOLE |  | 26224 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 1084004 | 5856 | SH |  | SOLE |  | 5856 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 1875024 | 232345 | SH |  | SOLE |  | 232345 | 0 | 0 |
| SNAP INC | NOTE5/0 | 83304AAF3 |  | 5588721 | 6000000 | PRN |  | SOLE |  | 6000000 | 0 | 0 |
| SNAP INC | NOTE 0.125% 3/0 | 83304AAH9 |  | 3637704 | 4000000 | PRN |  | SOLE |  | 4000000 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 676117 | 7573 | SH |  | SOLE |  | 7573 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 2170670 | 24893 | SH |  | SOLE |  | 24893 | 0 | 0 |
| SOUTHWEST GAS HLDGS INC | COM | 844895102 |  | 1375304 | 17187 | SH |  | SOLE |  | 17187 | 0 | 0 |
| SPECTRUM BRANDS INC | NOTE 3.375% 6/0 | 84762LAZ8 |  | 3769786 | 4000000 | PRN |  | SOLE |  | 4000000 | 0 | 0 |
| SPOTIFY USA INC | NOTE3/1 | 84921RAB6 |  | 17065400 | 15000000 | PRN |  | SOLE |  | 15000000 | 0 | 0 |
| SUN CMNTYS INC | COM | 866674104 |  | 3853105 | 31096 | SH |  | SOLE |  | 31096 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 2078458 | 21263 | SH |  | SOLE |  | 21263 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 818940 | 1821 | SH |  | SOLE |  | 1821 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 3968894 | 23909 | SH |  | SOLE |  | 23909 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 13141926 | 22680 | SH |  | SOLE |  | 22680 | 0 | 0 |
| THOR INDS INC | COM | 885160101 |  | 477005 | 4646 | SH |  | SOLE |  | 4646 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 2379265 | 15489 | SH |  | SOLE |  | 15489 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 2906631 | 58121 | SH |  | SOLE |  | 58121 | 0 | 0 |
| TRAEGER INC | COMMON STOCK | 89269P103 |  | 26668521 | 24693075 | SH |  | DFND |  | 24693075 | 0 | 0 |
| TRIPADVISOR INC | NOTE 0.250% 4/0 | 896945AD4 |  | 6127796 | 6237000 | PRN |  | SOLE |  | 6237000 | 0 | 0 |
| UBER TECHNOLOGIES INC | NOTE 0.875%12/0 | 90353TAM2 |  | 19450547 | 15000000 | PRN |  | SOLE |  | 15000000 | 0 | 0 |
| UGI CORP NEW | COM | 902681105 |  | 3082735 | 82360 | SH |  | SOLE |  | 82360 | 0 | 0 |
| UNITY SOFTWARE INC | NOTE11/1 | 91332UAB7 |  | 2408160 | 2500000 | PRN |  | SOLE |  | 2500000 | 0 | 0 |
| US FOODS HLDG CORP | COM | 912008109 |  | 3129847 | 41554 | SH |  | SOLE |  | 41554 | 0 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 1097592 | 8265 | SH |  | SOLE |  | 8265 | 0 | 0 |
| VAIL RESORTS INC | NOTE1/0 | 91879QAN9 |  | 9950000 | 10000000 | PRN |  | SOLE |  | 10000000 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 3965029 | 51241 | SH |  | SOLE |  | 51241 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 |  | 2184024 | 77668 | SH |  | SOLE |  | 77668 | 0 | 0 |
| VISTEON CORP | COM NEW | 92839U206 |  | 1370106 | 14407 | SH |  | SOLE |  | 14407 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 184711987 | 1657948 | SH |  | SOLE |  | 1657948 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 5113755 | 48490 | SH |  | SOLE |  | 48490 | 0 | 0 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 843032 | 35586 | SH |  | SOLE |  | 35586 | 0 | 0 |
| WP CAREY INC | COM | 92936U109 |  | 7111008 | 110488 | SH |  | SOLE |  | 110488 | 0 | 0 |
| YETI HLDGS INC | COM | 98585X104 |  | 3880202 | 87847 | SH |  | SOLE |  | 87847 | 0 | 0 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 10393673 | 115588 | SH |  | SOLE |  | 115588 | 0 | 0 |
| ZOOMINFO TECHNOLOGIES INC | COMMON STOCK | 98980F104 |  | 162120 | 15941 | SH |  | SOLE |  | 15941 | 0 | 0 |

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