Q1 2025 · 13F-HR
GRANDFIELD & DODD, LLCholdings as filed
Filed 2025-05-02 · accession 0001085146-25-002562
$1.61B
Reported value
197
Positions
2025-03-31
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | MICROSOFT CORP | $89.0M | 5.52% | 236,998 | Common | SOLE |
| 704326107 | PAYX | PAYCHEX INC | $58.6M | 3.63% | 379,557 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $54.6M | 3.38% | 272,570 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $54.3M | 3.37% | 102,038 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $52.4M | 3.25% | 259,977 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $51.4M | 3.19% | 110,391 | Common | SOLE |
| 75513E101 | RTX | RTX CORPORATION | $48.0M | 2.98% | 362,473 | Common | SOLE |
| G51502105 | JCI | JOHNSON CTLS INTL PLC | $47.4M | 2.94% | 591,933 | Common | SOLE |
| H1467J104 | CB | CHUBB LIMITED | $47.3M | 2.94% | 156,759 | Common | SOLE |
| 92345Y106 | VRSK | VERISK ANALYTICS INC | $42.7M | 2.64% | 143,305 | Common | SOLE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $40.9M | 2.53% | 164,798 | Common | SOLE |
| 052769106 | ADSK | AUTODESK INC | $37.7M | 2.34% | 144,000 | Common | SOLE |
| 863667101 | SYK | STRYKER CORPORATION | $36.7M | 2.28% | 98,571 | Common | SOLE |
| 009158106 | APD | AIR PRODS & CHEMS INC | $33.2M | 2.06% | 112,699 | Common | SOLE |
| 127190304 | CACI | CACI INTL INC | $32.3M | 2.00% | 87,934 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATLS INC | $32.2M | 2.00% | 222,158 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES INC | $31.6M | 1.96% | 281,732 | Common | SOLE |
| 440452100 | HRL | HORMEL FOODS CORP | $30.2M | 1.87% | 975,923 | Common | SOLE |
| 25243Q205 | DEO | DIAGEO PLC | $27.6M | 1.71% | 263,184 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INC | $27.5M | 1.70% | 64,011 | Common | SOLE |
| 36266G107 | GEHC | GE HEALTHCARE TECHNOLOGIES I | $26.6M | 1.65% | 329,648 | Common | SOLE |
| 896239100 | TRMB | TRIMBLE INC | $26.0M | 1.61% | 395,860 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HLDGS INC | $25.3M | 1.57% | 387,486 | Common | SOLE |
| 904767704 | — | UNILEVER PLC | $24.4M | 1.51% | 410,166 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $23.1M | 1.43% | 234,141 | Common | SOLE |
| 80105N105 | SNY | SANOFI | $21.5M | 1.33% | 387,930 | Common | SOLE |
| 75886F107 | REGN | REGENERON PHARMACEUTICALS | $21.1M | 1.31% | 33,207 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $20.9M | 1.30% | 94,278 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $20.5M | 1.27% | 228,940 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $20.4M | 1.26% | 119,538 | Common | SOLE |
| 879360105 | TDY | TELEDYNE TECHNOLOGIES INC | $20.0M | 1.24% | 40,164 | Common | SOLE |
| 962166104 | WY | WEYERHAEUSER CO MTN BE | $19.5M | 1.21% | 666,069 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $19.4M | 1.20% | 116,077 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $18.6M | 1.16% | 254,286 | Common | SOLE |
| 053332102 | AZO | AUTOZONE INC | $18.5M | 1.15% | 4,861 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $18.3M | 1.13% | 110,057 | Common | SOLE |
| 66987V109 | NVS | NOVARTIS AG | $18.2M | 1.13% | 163,225 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $18.1M | 1.12% | 116,983 | Common | SOLE |
| 428291108 | HXL | HEXCEL CORP NEW | $18.1M | 1.12% | 330,146 | Common | SOLE |
| 012653101 | ALB | ALBEMARLE CORP | $17.5M | 1.09% | 243,036 | Common | SOLE |
| 592688105 | MTD | METTLER TOLEDO INTERNATIONAL | $15.3M | 0.95% | 12,979 | Common | SOLE |
| 693506107 | PPG | PPG INDS INC | $14.3M | 0.89% | 130,631 | Common | SOLE |
| 192446102 | CTSH | COGNIZANT TECHNOLOGY SOLUTIO | $14.2M | 0.88% | 185,128 | Common | SOLE |
| 084670108 | BRK/A | BERKSHIRE HATHAWAY INC DEL | $13.6M | 0.84% | 17 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $12.6M | 0.78% | 106,232 | Common | SOLE |
| 773903109 | ROK | ROCKWELL AUTOMATION INC | $11.7M | 0.73% | 45,413 | Common | SOLE |
| 25179M103 | DVN | DEVON ENERGY CORP NEW | $11.7M | 0.73% | 313,047 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $9.8M | 0.61% | 19,648 | Common | SOLE |
| 92532F100 | VRTX | VERTEX PHARMACEUTICALS INC | $8.8M | 0.55% | 18,146 | Common | SOLE |
| G5960L103 | MDT | MEDTRONIC PLC | $8.5M | 0.53% | 94,368 | Common | SOLE |
| 219350105 | GLW | CORNING INC | $7.7M | 0.48% | 168,144 | Common | SOLE |
| 278865100 | ECL | ECOLAB INC | $7.6M | 0.47% | 29,984 | Common | SOLE |
| 609207105 | MDLZ | MONDELEZ INTL INC | $6.4M | 0.40% | 94,371 | Common | SOLE |
| 855244109 | SBUX | STARBUCKS CORP | $5.8M | 0.36% | 59,562 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $5.7M | 0.35% | 89,203 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $5.5M | 0.34% | 22,268 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $5.4M | 0.34% | 17,807 | Common | SOLE |
| 98956P102 | ZBH | ZIMMER BIOMET HOLDINGS INC | $5.2M | 0.32% | 45,870 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $5.1M | 0.31% | 9,267 | Common | SOLE |
| 30063P105 | EXK | EXACT SCIENCES CORP | $4.9M | 0.30% | 112,760 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $4.4M | 0.27% | 4,662 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $4.1M | 0.26% | 39,399 | Common | SOLE |
| 260003108 | DOV | DOVER CORP | $4.1M | 0.25% | 23,223 | Common | SOLE |
| 513272104 | LW | LAMB WESTON HLDGS INC | $3.9M | 0.24% | 72,762 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $3.6M | 0.22% | 13,363 | Common | SOLE |
| 55261F104 | MTB | M & T BK CORP | $3.5M | 0.22% | 19,456 | Common | SOLE |
| 902973304 | USB | US BANCORP DEL | $3.4M | 0.21% | 79,718 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $3.4M | 0.21% | 21,498 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $3.1M | 0.19% | 25,193 | Common | SOLE |
| 191216100 | KO | COCA COLA CO | $3.0M | 0.19% | 42,304 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $2.9M | 0.18% | 7,539 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP | $2.7M | 0.17% | 13,023 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATION | $2.6M | 0.16% | 12,645 | Common | SOLE |
| 929160109 | VMC | VULCAN MATLS CO | $2.5M | 0.16% | 10,811 | Common | SOLE |
| 713448108 | PEP | PEPSICO INC | $2.5M | 0.16% | 16,681 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC | $2.5M | 0.15% | 8,018 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $2.3M | 0.14% | 12,106 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $2.2M | 0.13% | 3,853 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $2.1M | 0.13% | 2,528 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $2.1M | 0.13% | 4,206 | Common | SOLE |
| 311900104 | FAST | FASTENAL CO | $2.1M | 0.13% | 26,550 | Common | SOLE |
| 194162103 | CL | COLGATE PALMOLIVE CO | $2.0M | 0.12% | 20,957 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $2.0M | 0.12% | 3,489 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $1.9M | 0.12% | 5,318 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING IN | $1.9M | 0.12% | 6,360 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $1.9M | 0.12% | 3,693 | Common | SOLE |
| 922042775 | VEU | VANGUARD INTL EQUITY INDEX F | $1.9M | 0.12% | 31,213 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $1.9M | 0.12% | 14,163 | Common | SOLE |
| 64125C109 | NBIX | NEUROCRINE BIOSCIENCES INC | $1.8M | 0.11% | 16,570 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $1.7M | 0.11% | 68,306 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTL INC | $1.7M | 0.11% | 8,139 | Common | SOLE |
| 291011104 | EMR | EMERSON ELEC CO | $1.7M | 0.10% | 15,095 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $1.6M | 0.10% | 11,224 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD | $1.5M | 0.10% | 30,960 | Common | SOLE |
| 127097103 | CTRA | COTERRA ENERGY INC | $1.4M | 0.09% | 50,104 | Common | SOLE |
| 922908637 | VV | VANGUARD INDEX FDS | $1.4M | 0.09% | 5,550 | Common | SOLE |
| 464287622 | IWB | ISHARES TR | $1.4M | 0.09% | 4,523 | Common | SOLE |
| 09061G101 | BMRN | BIOMARIN PHARMACEUTICAL INC | $1.3M | 0.08% | 18,712 | Common | SOLE |
| 45337C102 | INCY | INCYTE CORP | $1.3M | 0.08% | 21,065 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $1.2M | 0.07% | 3,802 | Common | SOLE |
| 92826C839 | V | VISA INC | $1.2M | 0.07% | 3,385 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $1.2M | 0.07% | 5,532 | Common | SOLE |
| 462222100 | IONS | IONIS PHARMACEUTICALS INC | $1.1M | 0.07% | 37,761 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $1.1M | 0.07% | 10,122 | Common | NONE |
| 907818108 | UNP | UNION PAC CORP | $1.0M | 0.06% | 4,398 | Common | SOLE |
| 443510607 | HUBB | HUBBELL INC | $1.0M | 0.06% | 3,122 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $1.0M | 0.06% | 6,484 | Common | NONE |
| 30161Q104 | EXEL | EXELIXIS INC | $972,141 | 0.06% | 26,331 | Common | SOLE |
| 494368103 | KMB | KIMBERLY-CLARK CORP | $922,297 | 0.06% | 6,485 | Common | SOLE |
| 941848103 | WAT | WATERS CORP | $845,868 | 0.05% | 2,295 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $818,701 | 0.05% | 3,032 | Common | SOLE |
| 92204A504 | VHT | VANGUARD WORLD FD | $806,103 | 0.05% | 3,045 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $781,239 | 0.05% | 2,874 | Common | SOLE |
| 372303206 | GMAB | GENMAB A/S | $781,105 | 0.05% | 39,893 | Common | SOLE |
| 337738108 | FISV | FISERV INC | $760,980 | 0.05% | 3,446 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB CO | $753,649 | 0.05% | 12,356 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $741,424 | 0.05% | 4,280 | Common | NONE |
| 88160R101 | TSLA | TESLA INC | $682,368 | 0.04% | 2,633 | Common | SOLE |
| 075887109 | BDX | BECTON DICKINSON & CO | $666,794 | 0.04% | 2,911 | Common | SOLE |
| 359694106 | FUL | FULLER H B CO | $663,563 | 0.04% | 11,824 | Common | SOLE |
| 922908629 | VO | VANGUARD INDEX FDS | $661,809 | 0.04% | 2,559 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $648,360 | 0.04% | 9,146 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $646,925 | 0.04% | 7,369 | Common | SOLE |
| 244199105 | DE | DEERE & CO | $639,724 | 0.04% | 1,363 | Common | NONE |
| 055622104 | BP | BP PLC | $628,731 | 0.04% | 18,607 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $618,648 | 0.04% | 12,170 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $617,569 | 0.04% | 662 | Common | SOLE |
| 67103H107 | ORLY | OREILLY AUTOMOTIVE INC | $617,442 | 0.04% | 431 | Common | SOLE |
| 922042866 | VPL | VANGUARD INTL EQUITY INDEX F | $593,447 | 0.04% | 8,190 | Common | SOLE |
| 670100205 | NVO | NOVO-NORDISK A S | $578,713 | 0.04% | 8,334 | Common | NONE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $566,199 | 0.04% | 2,277 | Common | SOLE |
| 922908751 | VB | VANGUARD INDEX FDS | $543,087 | 0.03% | 2,449 | Common | SOLE |
| 46982L108 | J | JACOBS SOLUTIONS INC | $540,741 | 0.03% | 4,473 | Common | SOLE |
| 464288414 | MUB | ISHARES TR | $539,326 | 0.03% | 5,115 | Common | SOLE |
| 87612E106 | TGT | TARGET CORP | $526,601 | 0.03% | 5,046 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $510,504 | 0.03% | 13,484 | Common | SOLE |
| 209115104 | ED | CONSOLIDATED EDISON INC | $503,767 | 0.03% | 4,555 | Common | SOLE |
| 31428X106 | FDX | FEDEX CORP | $489,754 | 0.03% | 2,009 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $487,099 | 0.03% | 7,893 | Common | NONE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $484,725 | 0.03% | 1,553 | Common | SOLE |
| 046353108 | AZNN | ASTRAZENECA PLC | $478,044 | 0.03% | 6,504 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $465,906 | 0.03% | 808 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $465,061 | 0.03% | 1,994 | Common | SOLE |
| 02209S103 | MO | ALTRIA GROUP INC | $456,332 | 0.03% | 7,603 | Common | SOLE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $454,754 | 0.03% | 15,939 | Common | NONE |
| 031100100 | AME | AMETEK INC | $434,137 | 0.03% | 2,522 | Common | SOLE |
| 09227Q100 | BLKB | BLACKBAUD INC | $420,699 | 0.03% | 6,780 | Common | SOLE |
| 254709108 | DFSEUR | DISCOVER FINL SVCS | $405,634 | 0.03% | 2,376 | Common | SOLE |
| 464287465 | EFA | ISHARES TR | $402,261 | 0.02% | 4,921 | Common | SOLE |
| 26875P101 | EOG | EOG RES INC | $395,492 | 0.02% | 3,084 | Common | NONE |
| 464288158 | SUB | ISHARES TR | $394,416 | 0.02% | 3,735 | Common | SOLE |
| 806857108 | SLB | SCHLUMBERGER LTD | $387,528 | 0.02% | 9,271 | Common | SOLE |
| 03027X100 | AMT | AMERICAN TOWER CORP NEW | $379,277 | 0.02% | 1,743 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $373,246 | 0.02% | 1,871 | Common | SOLE |
| 955306105 | WST | WEST PHARMACEUTICAL SVSC INC | $373,208 | 0.02% | 1,667 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $366,988 | 0.02% | 1,367 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY | $354,630 | 0.02% | 3,039 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $346,543 | 0.02% | 739 | Common | SOLE |
| 45826J105 | NTLA | INTELLIA THERAPEUTICS INC | $345,866 | 0.02% | 48,645 | Common | SOLE |
| 94106L109 | WM | WASTE MGMT INC DEL | $341,477 | 0.02% | 1,475 | Common | SOLE |
| 097023105 | BA | BOEING CO | $334,940 | 0.02% | 1,963 | Common | SOLE |
| 968223206 | WLY | WILEY JOHN & SONS INC | $328,719 | 0.02% | 7,376 | Common | SOLE |
| 26614N102 | DD | DUPONT DE NEMOURS INC | $327,397 | 0.02% | 4,383 | Common | SOLE |
| 427866108 | HSY | HERSHEY CO | $324,569 | 0.02% | 1,897 | Common | SOLE |
| 29084Q100 | EME | EMCOR GROUP INC | $318,251 | 0.02% | 861 | Common | SOLE |
| 92338C103 | VLTO | VERALTO CORP | $310,086 | 0.02% | 3,182 | Common | SOLE |
| 681919106 | OMC | OMNICOM GROUP INC | $304,694 | 0.02% | 3,675 | Common | NONE |
| 26441C204 | DUK | DUKE ENERGY CORP NEW | $303,095 | 0.02% | 2,485 | Common | SOLE |
| 462260100 | IOVA | IOVANCE BIOTHERAPEUTICS INC | $302,947 | 0.02% | 90,975 | Common | SOLE |
| 25434V708 | DFAC | DIMENSIONAL ETF TRUST | $298,329 | 0.02% | 9,043 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $297,188 | 0.02% | 1,775 | Common | SOLE |
| 25434V724 | DFUV | DIMENSIONAL ETF TRUST | $297,042 | 0.02% | 7,208 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $295,576 | 0.02% | 312 | Common | SOLE |
| 278642103 | EBAY | EBAY INC. | $295,303 | 0.02% | 4,360 | Common | SOLE |
| 14448C104 | CARR | CARRIER GLOBAL CORPORATION | $274,395 | 0.02% | 4,328 | Common | SOLE |
| 88579Y101 | MMM | 3M CO | $264,732 | 0.02% | 1,802 | Common | SOLE |
| 29446M102 | EQNR | EQUINOR ASA | $264,500 | 0.02% | 10,000 | Common | SOLE |
| 808524102 | SCHB | SCHWAB STRATEGIC TR | $263,570 | 0.02% | 12,242 | Common | SOLE |
| 464287614 | IWF | ISHARES TR | $263,235 | 0.02% | 729 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $257,742 | 0.02% | 2,700 | Common | SOLE |
| 00206R102 | T | AT&T INC | $256,457 | 0.02% | 9,068 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC | $256,221 | 0.02% | 1,668 | Common | NONE |
| 25434V401 | DFUS | DIMENSIONAL ETF TRUST | $254,016 | 0.02% | 4,199 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $248,773 | 0.02% | 54 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $240,330 | 0.01% | 538 | Common | SOLE |
| 670346105 | NUE | NUCOR CORP | $238,875 | 0.01% | 1,985 | Common | NONE |
| 464287598 | IWD | ISHARES TR | $236,141 | 0.01% | 1,255 | Common | SOLE |
| 25434V807 | DFIV | DIMENSIONAL ETF TRUST | $230,492 | 0.01% | 5,856 | Common | SOLE |
| 487836108 | K | KELLANOVA | $230,234 | 0.01% | 2,791 | Common | SOLE |
| 169656105 | CMG | CHIPOTLE MEXICAN GRILL INC | $230,213 | 0.01% | 4,585 | Common | SOLE |
| 461202103 | INTU | INTUIT | $229,018 | 0.01% | 373 | Common | SOLE |
| 464287499 | IWR | ISHARES TR | $227,562 | 0.01% | 2,675 | Common | SOLE |
| 45768S105 | IOSP | INNOSPEC INC | $227,400 | 0.01% | 2,400 | Common | SOLE |
| 693475105 | PNC | PNC FINL SVCS GROUP INC | $214,088 | 0.01% | 1,218 | Common | SOLE |
| 29444U700 | EQIX | EQUINIX INC | $213,622 | 0.01% | 262 | Common | NONE |
| 032095101 | APH | AMPHENOL CORP NEW | $213,561 | 0.01% | 3,256 | Common | SOLE |
| 372460105 | GPC | GENUINE PARTS CO | $202,300 | 0.01% | 1,698 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.