Q3 2025 Holdings
Filed 2025-11-14 | 284 holdings | $4.1B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Alibaba Group Hldg LTD | NOTE 0.500% 6/0 | 01609WBG6 | $279.0M | $151,801,000 | 6.8% |
| Ishares TR(TLT)Put | 20 YR TR BD ETF | 464287432 | $266.3M | 2,980,000 | 6.5% |
| Ishares TR(HYG)Put | IBOXX HI YD ETF | 464288513 | $227.3M | 2,800,000 | 5.5% |
| Ishares TR(LQD)Put | IBOXX INV CP ETF | 464287242 | $222.9M | 2,000,000 | 5.4% |
| Apollo Global Mgmt Inc | SER A MAND CNV | 03769M304 | $147.8M | 2,100,000 | 3.6% |
| Ishares TR(EMB) | JPMORGAN USD EMG | 464288281 | $139.8M | 1,469,000 | 3.4% |
| Uber Technologies Inc | NOTE12/1 | 90353TAJ9 | $138.6M | $113,615,000 | 3.4% |
| Ford MTR Co | NOTE3/1 | 345370CZ1 | $133.0M | $131,000,000 | 3.2% |
| ARK ETF TR(ARKK)Put | INNOVATION ETF | 00214Q104 | $121.7M | 1,410,000 | 3.0% |
| Spdr Gold TR(GLD)Put | GOLD SHS | 78463V107 | $106.6M | 300,000 | 2.6% |
| Txnm Energy Inc(TXNM) | COM | 69349H107 | $94.1M | 1,663,830 | 2.3% |
| Spdr Gold TR(GLD)Call | GOLD SHS | 78463V107 | $88.9M | 250,000 | 2.2% |
| Jazz Investments I LTD | NOTE 2.000% 6/1 | 472145AF8 | $88.5M | $83,300,000 | 2.2% |
| Trip COM Group LTD | NOTE 0.750% 6/1 | 89677QAB3 | $83.1M | $65,000,000 | 2.0% |
| Etsy Inc | NOTE 0.125%10/0 | 29786AAJ5 | $81.2M | $77,722,000 | 2.0% |
| ON Semiconductor Corp | NOTE 0.500% 3/0 | 682189AU9 | $77.4M | $83,575,000 | 1.9% |
| Ishares TR(MTUM)Put | MSCI USA MMENTM | 46432F396 | $76.9M | 300,000 | 1.9% |
| Ishares TR(IGSB) | ISHS 1-5YR INVS | 464288646 | $60.2M | 1,135,000 | 1.5% |
| Coinbase Global Inc | NOTE 0.500% 6/0 | 19260QAB3 | $58.3M | $52,500,000 | 1.4% |
| Hewlett Packard Enterprise C(HPEPC) | 7.625 MAND CONV | 42824C208 | $57.9M | 850,000 | 1.4% |
| Airbnb Inc | NOTE3/1 | 009066AB7 | $57.0M | $58,250,000 | 1.4% |
| Norfolk Southn Corp(NSC) | COM | 655844108 | $56.9M | 189,280 | 1.4% |
| Shift4 Pmts Inc | NOTE12/1 | 82452JAB5 | $52.5M | $51,000,000 | 1.3% |
| Shopify Inc | NOTE 0.125%11/0 | 82509LAA5 | $52.0M | $49,404,000 | 1.3% |
| Coinbase Global Inc | NOTE 0.250% 4/0 | 19260QAF4 | $50.3M | $40,000,000 | 1.2% |
| Ishares Inc(EWZ)Call | MSCI BRAZIL ETF | 464286400 | $46.5M | 1,500,000 | 1.1% |
| Ishares TR(LQD) | IBOXX INV CP ETF | 464287242 | $44.2M | 396,206 | 1.1% |
| Micron Technology Inc(MU)Call | COM | 595112103 | $41.8M | 250,000 | 1.0% |
| Chart Inds Inc(GTLS) | COM | 16115Q308 | $41.8M | 208,634 | 1.0% |
| Dexcom Inc | NOTE 0.375% 5/1 | 252131AM9 | $40.6M | $44,500,000 | 1.0% |
| Ishares Inc(EWY)Call | MSCI STH KOR ETF | 464286772 | $40.1M | 500,000 | 1.0% |
| Microchip Technology Inc. | NOTE 0.750% 6/0 | 595017BG8 | $39.3M | $40,500,000 | 1.0% |
| Akamai Technologies Inc | NOTE 1.125% 2/1 | 00971TAN1 | $38.7M | $41,162,000 | 0.9% |
| Kraneshares Trust(KWEB)Call | CSI CHI INTERNET | 500767306 | $38.2M | 909,000 | 0.9% |
| Electronic Arts Inc(EA) | COM | 285512109 | $37.4M | 185,440 | 0.9% |
| Ishares TR(EEM)Call | MSCI EMG MKT ETF | 464287234 | $34.8M | 652,100 | 0.8% |
| H World Group LTD | NOTE 3.000% 5/0 | 44332NAB2 | $33.5M | $30,000,000 | 0.8% |
| Bridgebio Pharma Inc | NOTE 2.250% 2/0 | 10806XAD4 | $30.9M | $31,230,000 | 0.8% |
| Bitdeer Technologies Group(BTDR)Call | CL A ORD SHS | G11448100 | $30.8M | 1,800,000 | 0.8% |
| Peabody Engr Corp | NOTE 3.250% 3/0 | 704551AD2 | $28.2M | $18,750,000 | 0.7% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $27.0M | 45,000 | 0.7% |
| Kyivstar Group LTD(KYIV) | ORD SHS | G5331N101 | $26.7M | 2,137,889 | 0.7% |
| Tyler TEX Indpt SCH Dist | NOTE 0.250% 3/1 | 902252AB1 | $24.2M | $22,000,000 | 0.6% |
| Strategy Inc(MSTR)Put | CL A NEW | 594972408 | $24.2M | 75,000 | 0.6% |
| Albemarle Corp(ALBPA) | 7.25% DEP SHS A | 012653200 | $23.0M | 600,000 | 0.6% |
| Draftkings Inc New | NOTE3/1 | 26142RAB0 | $22.9M | $25,400,000 | 0.6% |
| Dropbox Inc | NOTE3/0 | 26210CAD6 | $22.2M | $21,500,000 | 0.5% |
| Ishares TR(FXI)Call | CHINA LG-CAP ETF | 464287184 | $20.6M | 500,000 | 0.5% |
| The Realreal Inc | DEBT 4.000% 2/1 | 88339PAJ0 | $19.5M | $15,097,000 | 0.5% |
| Nvidia Corporation(NVDA)Put | COM | 67066G104 | $18.7M | 100,000 | 0.5% |