Q4 2025 Holdings
Filed 2026-02-17 | 31 holdings | $624.2M | 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 | $170.5M | 2,500 | 27.3% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $153.6M | 2,500 | 24.6% |
| Ishares TR(TLT)Put | 20 YR TR BD ETF | 464287432 | $113.3M | 13,000 | 18.2% |
| Garrett Motion Inc(GTX) | COM | 366505105 | $15.7M | 900,000 | 2.5% |
| Energy Transfer L P(ET) | COM UT LTD PTN | 29273V100 | $15.3M | 929,000 | 2.5% |
| Diversified Healthcare TR(DHC) | COM SH BEN INT | 25525P107 | $14.6M | 3,000,000 | 2.3% |
| American Axle & MFG Hldgs in(DCH) | COM | 024061103 | $13.8M | 2,156,574 | 2.2% |
| Celanese Corp del(CE) | COM | 150870103 | $9.9M | 235,000 | 1.6% |
| PG&E Corp(PCG) | COM | 69331C108 | $8.8M | 550,000 | 1.4% |
| Driven Brands Hldgs Inc(DRVN) | COM | 26210V102 | $8.3M | 560,000 | 1.3% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $8.3M | 75,000 | 1.3% |
| Transocean LTD(RIG) | REGISTERED SHS | H8817H100 | $7.4M | 1,800,000 | 1.2% |
| Brookdale SR Living Inc(BKD) | COM | 112463104 | $7.1M | 660,000 | 1.1% |
| Seadrill LTD(SDRL) | COM | G7997W102 | $6.9M | 200,000 | 1.1% |
| Vaneck ETF Trust(GDX) | GOLD MINERS ETF | 92189F106 | $6.9M | 80,000 | 1.1% |
| Vaneck ETF Trust(GDXJ) | JUNIOR GOLD MINE | 92189F791 | $6.8M | 60,000 | 1.1% |
| Talen Energy Corp(TLN) | COM | 87422Q109 | $6.0M | 16,000 | 1.0% |
| NRG Energy Inc(NRG) | COM NEW | 629377508 | $5.9M | 37,000 | 0.9% |
| Global Ship Lease Inc New(GSL) | COM CL A | Y27183600 | $5.6M | 160,000 | 0.9% |
| Lincoln EDL Svcs Corp(LINC) | COM | 533535100 | $4.8M | 200,000 | 0.8% |
| ADT Inc del(ADT) | COM | 00090Q103 | $4.2M | 520,000 | 0.7% |
| Lumen Technologies Inc CMN(LUMN) | COM | 550241103 | $4.1M | 525,000 | 0.7% |
| Target Hospitality Corp(TH) | COM | 87615L107 | $4.0M | 500,000 | 0.6% |
| Vistra Corp(VST) | COM | 92840M102 | $3.9M | 24,000 | 0.6% |
| DOW Inc(DOW) | COM | 260557103 | $3.5M | 150,000 | 0.6% |
| EQT Corp(EQT) | COM | 26884L109 | $3.2M | 60,000 | 0.5% |
| Compass Inc(COMP) | CL A | 20464U100 | $2.9M | 270,000 | 0.5% |
| Hudson PAC Pptys Inc(HPP) | COM | 444097406 | $2.7M | 250,000 | 0.4% |
| Willow Lane Acquisition Corp | ORD SHS CL A | G9675P102 | $2.5M | 194,185 | 0.4% |
| Coty Inc(COTY) | COM CL A | 222070203 | $2.3M | 750,000 | 0.4% |
| Strategic ED Inc(STRA) | COM | 86272C103 | $1.4M | 17,900 | 0.2% |