Q4 2025 Holdings
Filed 2026-02-13 | 105 holdings | $1.5B | 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 | $375.1M | 550,000 | 24.3% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $246.2M | 1,000,000 | 16.0% |
| Vail Resorts Inc(MTN) | COM | 91879Q109 | $245.8M | 1,851,234 | 15.9% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $122.9M | 200,000 | 8.0% |
| HUT 8 Corp(HUT) | COM | 44812J104 | $106.0M | 2,307,683 | 6.9% |
| Alibaba Group Hldg LTD | NOTE 0.500% 6/0 | 01609WBG6 | $93.2M | $60,000,000 | 6.0% |
| Core Scientific Inc New(CORZ) | COM | 21874A106 | $38.5M | 2,643,729 | 2.5% |
| Vnet Group Inc(VNET) | SPONSORED ADS A | 90138A103 | $29.2M | 3,449,188 | 1.9% |
| Stratus Pptys Inc(STRS) | COM NEW | 863167201 | $27.4M | 1,134,060 | 1.8% |
| RB Global Inc(RBA) | COM | 74935Q107 | $18.9M | 183,244 | 1.2% |
| Applied Digital Corp(APLD) | COM NEW | 038169207 | $18.0M | 732,817 | 1.2% |
| RLX Technology Inc(RLX) | SPONSORED ADS | 74969N103 | $15.1M | 6,497,600 | 1.0% |
| Theravance Biopharma Inc(TBPH) | COM | G8807B106 | $13.6M | 727,161 | 0.9% |
| Baidu Inc(BIDUN)Call | SPON ADR REP A | 056752108 | $12.4M | 94,900 | 0.8% |
| Gigacloud Technology Inc(GCT) | CLASS A ORD | G38644103 | $12.3M | 312,995 | 0.8% |
| Applied Digital Corp(APLD)Call | COM NEW | 038169207 | $12.3M | 500,000 | 0.8% |
| ACM Resh Inc(ACMR) | COM CL A | 00108J109 | $9.2M | 233,988 | 0.6% |
| H World Group LTD(HTHT) | SPONSORED ADS | 44332N106 | $8.7M | 184,879 | 0.6% |
| New Oriental ED & Technology(N1UA) | SPON ADR | 647581206 | $8.6M | 155,424 | 0.6% |
| Autohome Inc(ATHM) | SP ADS RP CL A | 05278C107 | $8.2M | 367,978 | 0.5% |
| Beyond Meat Inc | NOTE 3/1 | 08862EAB5 | $8.0M | $10,000,000 | 0.5% |
| TAL Education Group(TAL) | SPONSORED ADS | 874080104 | $7.5M | 686,805 | 0.5% |
| Broadcom Inc(AVGO) | COM | 11135F101 | $7.3M | 21,180 | 0.5% |
| KT Corp(KT) | SPONSORED ADR | 48268K101 | $6.8M | 358,589 | 0.4% |
| Sequans Communications S A(SQNS) | SPONSORED ADS | 817323405 | $6.3M | 1,411,315 | 0.4% |
| Trip COM Group LTD | NOTE 0.750% 6/1 | 89677QAB3 | $6.1M | $5,000,000 | 0.4% |
| Qfin Holdings Inc(QFIN) | AMERICAN DEP | 88557W101 | $6.1M | 314,755 | 0.4% |
| Lexinfintech Hldgs LTD(LX) | ADR | 528877103 | $5.7M | 1,744,075 | 0.4% |
| Kanzhun Limited(BZ) | SPONSORED ADS | 48553T106 | $5.6M | 272,442 | 0.4% |
| Futu Hldgs LTD(FUTU) | SPON ADS CL A | 36118L106 | $4.9M | 30,000 | 0.3% |
| Jd.com Inc(JD) | SPON ADS CL A | 47215P106 | $4.7M | 165,160 | 0.3% |
| SEA LTD(SE) | SPONSORD ADS | 81141R100 | $4.7M | 37,000 | 0.3% |
| Iqiyi Inc(IQ) | SPONSORED ADS | 46267X108 | $4.3M | 2,234,402 | 0.3% |
| Perfect Corp | CL A ORD SHS | G7006A109 | $4.0M | 2,200,623 | 0.3% |
| Celestica Inc(CLS) | COM | 15101Q207 | $2.6M | 8,940 | 0.2% |
| Cronos Group Inc(CRON) | COM | 22717L101 | $2.4M | 915,867 | 0.2% |
| Lumentum Hldgs Inc(LITE) | COM | 55024U109 | $2.3M | 6,250 | 0.1% |
| NIO Inc | NOTE 3.875%10/1 | 62914VAJ5 | $2.1M | $2,250,000 | 0.1% |
| Alibaba Group Hldg LTD(BABA) | SPONSORED ADS | 01609W102 | $2.0M | 13,500 | 0.1% |
| Greentree Hospitality Group(GHG) | SPONSORED ADS | 39579V100 | $1.9M | 1,099,362 | 0.1% |
| Amazon COM Inc(AMZN) | COM | 023135106 | $1.6M | 7,000 | 0.1% |
| Dave Inc | *W EXP 01/05/202 | 23834J110 | $1.4M | 6,368 | 0.1% |
| Teradyne Inc(TER) | COM | 880770102 | $1.4M | 7,000 | 0.1% |
| YD BIO LTD | *W EXP 08/28/203 | G9835J103 | $1.2M | 100,000 | 0.1% |
| Amkor Technology Inc(AMKR) | COM | 031652100 | $1.2M | 30,800 | 0.1% |
| Lanvin Group Holdings Limite | *W EXP 01/14/202 | G5380J118 | $1.2M | 581,304 | 0.1% |
| Forafric Global PLC | *W EXP 06/09/202 | X3R81D110 | $1.1M | 100,000 | 0.1% |
| iShares Semiconductor ETF(SOXX) | ISHARES SEMICDTR | 464287523 | $933.6K | 3,100 | 0.1% |
| Taiwan Semiconductor MFG LTD(TSM) | SPONSORED ADS | 874039100 | $911.7K | 3,000 | 0.1% |
| Alliance Entertainment Holdi(AENTW) | *W EXP 02/10/202 | 01861F110 | $808.0K | 100,000 | 0.1% |