Q4 2025 Holdings
Filed 2026-02-17 | 213 holdings | $1.1B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $92.7M | 136,000 | 8.6% |
| American Airls Group Inc(AAL)Put | COM | 02376R102 | $88.3M | 5,760,100 | 8.2% |
| Vaneck ETF Trust(GDX)Put | GOLD MINERS ETF | 92189F106 | $52.7M | 615,000 | 4.9% |
| Apple Inc(AAPL)Put | COM | 037833100 | $51.7M | 190,000 | 4.8% |
| Spdr Series Trust(XOP)Put | STATE STREET SPD | 78468R556 | $50.5M | 400,000 | 4.7% |
| Avis Budget Group(CAR)Put | COM | 053774105 | $44.3M | 345,000 | 4.1% |
| Rivian Automotive Inc(RIVN)Put | COM CL A | 76954A103 | $43.4M | 2,200,000 | 4.0% |
| Ishares TR(TLT)Put | 20 YR TR BD ETF | 464287432 | $36.3M | 417,000 | 3.4% |
| PBF Energy Inc(PBF)Put | CL A | 69318G106 | $25.8M | 950,000 | 2.4% |
| Bristol-Myers Squibb Co(BMY)Call | COM | 110122108 | $25.6M | 475,000 | 2.4% |
| Merck & Co Inc(MRK)Call | COM | 58933Y105 | $20.5M | 195,000 | 1.9% |
| Rivian Automotive Inc | NOTE 4.625% 3/1 | 76954AAB9 | $18.9M | $15,000,000 | 1.8% |
| Citigroup Inc(C)Call | COM NEW | 172967424 | $18.7M | 160,000 | 1.7% |
| Gilead Sciences Inc(GILD)Call | COM | 375558103 | $16.6M | 135,000 | 1.5% |
| Unitedhealth Group Inc(UNH)Call | COM | 91324P102 | $16.5M | 50,000 | 1.5% |
| Pfizer Inc(PFE)Call | COM | 717081103 | $16.4M | 660,000 | 1.5% |
| Newmont Corp(NEM)Put | COM | 651639106 | $15.0M | 150,000 | 1.4% |
| NCL Corp LTD | NOTE 1.125% 2/1 | 62886HBD2 | $14.5M | $14,500,000 | 1.3% |
| Strategy Inc | NOTE 0.875% 3/1 | 594972AL5 | $14.4M | $14,000,000 | 1.3% |
| Gilead Sciences Inc(GILD)Put | COM | 375558103 | $12.3M | 100,000 | 1.1% |
| Metlife Inc(MET)Call | COM | 59156R108 | $11.8M | 150,000 | 1.1% |
| Simon Ppty Group Inc New(SPG)Call | COM | 828806109 | $11.1M | 60,000 | 1.0% |
| Bank America Corp(BAC)Put | COM | 060505104 | $11.0M | 200,000 | 1.0% |
| Vodafone Group PLC New(VOD)Call | SPONSORED ADR | 92857W308 | $10.6M | 800,000 | 1.0% |
| Kinder Morgan Inc del(KMI)Call | COM | 49456B101 | $9.9M | 360,000 | 0.9% |
| Citigroup Inc(C)Put | COM NEW | 172967424 | $9.3M | 80,000 | 0.9% |
| Norwegian Cruise Line Hldg L(NCLH)Call | SHS | G66721104 | $8.9M | 400,000 | 0.8% |
| Conagra Brands Inc(CAG)Call | COM | 205887102 | $8.7M | 500,000 | 0.8% |
| Cisco SYS Inc(CSCO)Call | COM | 17275R102 | $7.7M | 100,000 | 0.7% |
| Freeport-Mcmoran Inc(FCX)Call | CL B | 35671D857 | $7.1M | 140,000 | 0.7% |
| Rivian Automotive Inc(RIVN)Call | COM CL A | 76954A103 | $6.9M | 350,000 | 0.6% |
| Merck & Co Inc(MRK)Put | COM | 58933Y105 | $6.8M | 65,000 | 0.6% |
| Bristol-Myers Squibb Co(BMY)Put | COM | 110122108 | $6.7M | 125,000 | 0.6% |
| Ford MTR Co(F)Put | COM | 345370860 | $6.6M | 500,000 | 0.6% |
| Compass Inc(COMP)Call | CL A | 20464U100 | $6.0M | 572,000 | 0.6% |
| Kosmos Energy LTD | NOTE 3.125% 3/1 | 500688AH9 | $6.0M | $14,000,000 | 0.6% |
| Ishares Silver TR(SLV)Call | ISHARES | 46428Q109 | $6.0M | 93,200 | 0.6% |
| Alphabet Inc(GOOGL) | CAP STK CL A | 02079K305 | $5.9M | 18,823 | 0.5% |
| Target Corp(TGT)Call | COM | 87612E106 | $5.9M | 60,000 | 0.5% |
| Uniti Group LLC | NOTE 7.500%12/0 | 91325VAB4 | $5.8M | $5,255,000 | 0.5% |
| Fedex Corp(FDX)Call | COM | 31428X106 | $5.5M | 19,000 | 0.5% |
| Herbalife LTD(HLF)Call | COM SHS | G4412G101 | $5.2M | 402,500 | 0.5% |
| International Business Machs(IBM)Put | COM | 459200101 | $5.2M | 17,500 | 0.5% |
| Verizon Communications Inc(VZ) | COM | 92343V104 | $5.0M | 123,000 | 0.5% |
| Bausch Health COS Inc(BHC)Put | COM | 071734107 | $4.6M | 666,000 | 0.4% |
| United Parcel Service Inc(UPS)Call | CL B | 911312106 | $4.0M | 40,000 | 0.4% |
| Metlife Inc(MET)Put | COM | 59156R108 | $3.9M | 50,000 | 0.4% |
| Kohls Corp(KSS)Put | COM | 500255104 | $3.7M | 180,000 | 0.3% |
| Caesars Entertainment Inc NE(CZR)Call | COM | 12769G100 | $3.4M | 146,800 | 0.3% |
| Talen Energy Corp(TLN) | COM | 87422Q109 | $3.4M | 9,101 | 0.3% |