Q4 2025 Holdings
Filed 2026-05-22 | 33 holdings | $614.4M | 13F-HR/A | View on SEC ↗ · Holdings Table ↗
Amended (2026-08-11) | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr S&P 500 ETF TR(SPY)PutA | TR UNIT | 78462F103 | $163.7M | 240,000 | 26.6% |
| Ishares TR(IWM)PutA | RUSSELL 2000 ETF | 464287655 | $119.4M | 485,000 | 19.4% |
| Spdr Gold TR(GLD)CallA | GOLD SHS | 78463V107 | $29.7M | 75,000 | 4.8% |
| Vale S A(VALE)CallA | SPONSORED ADS | 91912E105 | $26.7M | 2,050,000 | 4.3% |
| PG&E Corp | NOTE 4.250%12/0 | 69331CAL2 | $25.7M | $25,000,000 | 4.2% |
| Edison Intl(EIX)CallA | COM | 281020107 | $18.6M | 310,000 | 3.0% |
| American Axle & MFG Hldgs in(DCH) | COM | 024061103 | $16.3M | 2,543,044 | 2.7% |
| Sinclair Inc(SBGI) | CL A | 829242106 | $14.0M | 917,778 | 2.3% |
| Sharkninja Inc(SN)CallA | COM SHS | G8068L108 | $14.0M | 125,000 | 2.3% |
| American Axle & MFG Hldgs in(DCH)CallA | COM | 024061103 | $13.1M | 2,040,000 | 2.1% |
| ON Semiconductor Corp | NOTE 0.500% 3/0 | 682189AU9 | $12.3M | $13,000,000 | 2.0% |
| Vaneck ETF Trust(GDX)CallA | GOLD MINERS ETF | 92189F106 | $12.2M | 142,500 | 2.0% |
| Kosmos Energy LTD | NOTE 3.125% 3/1 | 500688AH9 | $12.2M | $28,300,000 | 2.0% |
| Kimberly-Clark Corp(KMB)CallA | COM | 494368103 | $12.1M | 120,000 | 2.0% |
| Spdr Series Trust(XME)PutA | STATE STREET SPD | 78464A755 | $10.4M | 100,000 | 1.7% |
| Newmont Corp(NEM)CallA | COM | 651639106 | $10.0M | 100,000 | 1.6% |
| Shift4 Pmts Inc | NOTE 0.500% 8/0 | 82452JAD1 | $9.6M | $10,000,000 | 1.6% |
| Lithium Argentina AG | NOTE 1.750% 1/1 | 53680QAA6 | $8.6M | $9,500,000 | 1.4% |
| Barrick MNG Corp(B)CallA | COM SHS | 06849F108 | $8.5M | 195,000 | 1.4% |
| Digitalocean Hldgs Inc(DOCN)PutA | COM | 25402D102 | $8.2M | 170,000 | 1.3% |
| Freeport-Mcmoran Inc(FCX)CallA | CL B | 35671D857 | $7.6M | 150,000 | 1.2% |
| YPF Sociedad Anonima(YPF)PutA | SPON ADR CL D | 984245100 | $6.9M | 190,000 | 1.1% |
| Xerox Holdings Corp | NOTE 3.750% 3/1 | 98421MAE6 | $6.4M | $21,300,000 | 1.0% |
| PG&E Corp(PCG)CallA | COM | 69331C108 | $6.4M | 400,000 | 1.0% |
| Sibanye Stillwater LTD(SBSW)CallA | SPONSORED ADR | 82575P107 | $6.4M | 450,000 | 1.0% |
| Franklin STR Pptys Corp(FSP) | COM | 35471R106 | $6.3M | 6,608,478 | 1.0% |
| LKQ Corp(LKQ)CallA | COM | 501889208 | $6.0M | 200,000 | 1.0% |
| Fluor Corp New(FLR)CallA | COM | 343412102 | $5.9M | 150,000 | 1.0% |
| Intel Corp(INTC)CallA | COM | 458140100 | $5.5M | 150,000 | 0.9% |
| Kenvue Inc(KVUE)CallA | COM | 49177J102 | $5.2M | 300,000 | 0.8% |
| Rocket LAB Corp(RKLB)PutA | COM | 773121108 | $4.2M | 60,000 | 0.7% |
| SIX Flags Entertainment Corp(FUN) | COM | 83001C108 | $1.6M | 101,500 | 0.3% |
| Tronox Holdings PLC(TROX) | SHS | G9087Q102 | $625.5K | 150,000 | 0.1% |