Q2 2025 Holdings
Filed 2025-08-14 | 1 holdings | $528.2M | 13F-HR/A | View on SEC ↗ · Holdings Table ↗
Amended (2025-11-14) | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Triple Flag Precious Metal(TFPM) | COM | 89679M104 | $3.2B | 133,815,727 | 18.0% |
| Phillips 66(PSX) | COM | 718546104 | $2.3B | 19,251,000 | 13.1% |
| Suncor Energy Inc New(SU) | COM | 867224107 | $2.0B | 52,670,800 | 11.2% |
| Southwest Airls Co(LUV) | COM | 844741108 | $1.8B | 53,978,500 | 10.0% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $1.3B | 2,160,000 | 7.6% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $1.1B | 2,000,000 | 6.3% |
| Pinterest Inc(PINS) | CL A | 72352L106 | $1.0B | 28,000,000 | 5.7% |
| Ishares TR(IWD)Put | RUS 1000 VAL ETF | 464287598 | $971.2M | 5,000,000 | 5.5% |
| Pepsico Inc(PEP)PutA | COM | 713448108 | $528.2M | 4,000,000 | 100.0% |
| Select Sector Spdr TR(XLI)Put | INDL | 81369Y704 | $516.3M | 3,500,000 | 2.9% |
| Nvidia Corporation(NVDA)Put | COM | 67066G104 | $407.6M | 2,580,000 | 2.3% |
| Hewlett Packard Enterprise C(HPE) | COM | 42824C109 | $381.0M | 18,630,978 | 2.2% |
| Ishares TR(HYG) | IBOXX HI YD ETF | 464288513 | $306.5M | 3,800,000 | 1.7% |
| Vaneck ETF Trust(SMH)Put | SEMICONDUCTR ETF | 92189F676 | $278.9M | 1,000,000 | 1.6% |
| Etsy Inc(ETSY) | COM | 29786A106 | $250.8M | 5,000,000 | 1.4% |
| Liberty Broadband Corp(LBRDK) | COM SER C | 530307305 | $234.6M | 2,384,481 | 1.3% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $215.8M | 1,000,000 | 1.2% |
| Vaneck ETF Trust(GDX)Put | GOLD MINERS ETF | 92189F106 | $208.2M | 4,000,000 | 1.2% |
| Spdr Series Trust(XME)Put | S&P METALS MNG | 78464A755 | $191.6M | 2,850,000 | 1.1% |
| Western Digital Corp(WDC) | COM | 958102105 | $144.0M | 2,250,000 | 0.8% |
| Digital Rlty TR Inc(DLR)Put | COM | 253868103 | $130.7M | 750,000 | 0.7% |
| Crown Castle Inc(CCI) | COM | 22822V101 | $125.8M | 1,225,000 | 0.7% |
| Equinix Inc(EQIX) | COM | 29444U700 | $119.3M | 150,000 | 0.7% |
| Sensata Technologies Hldg PL(ST) | SHS | G8060N102 | $97.9M | 3,250,000 | 0.6% |
| Seadrill LTD(SDRL) | COM | G7997W102 | $97.2M | 3,703,746 | 0.6% |
| Hilton Worldwide Hldgs Inc(HLT)Put | COM | 43300A203 | $85.2M | 320,000 | 0.5% |
| OR Royalties Inc.(OR) | COM SHS | 68390D106 | $56.1M | 2,180,151 | 0.3% |
| Microstrategy Inc | NOTE 0.625% 3/1 | 594972AJ0 | $44.5M | $16,000,000 | 0.3% |
| Uniti Group Inc | COM | 91325V108 | $43.7M | 10,120,963 | 0.2% |
| Sandisk Corp(SNDK) | COM | 80004C200 | $34.0M | 749,997 | 0.2% |
| Wayfair Inc | NOTE 3.500%11/1 | 94419LAR2 | $20.3M | $15,000,000 | 0.1% |