Q4 2025 Holdings
Filed 2026-02-17 | 109 holdings | $12.2B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Aspen Insurance Holdings LTD | ORD SHS CL A | G05384501 | $2.8B | 75,418,220 | 22.9% |
| Echostar Corp | NOTE 3.875%11/3 | 278768AB2 | $1.6B | $473,175,801 | 13.0% |
| ADT Inc del(ADT) | COM | 00090Q103 | $823.1M | 102,000,366 | 6.7% |
| Hilton Grand Vacations Inc(HGV) | COM | 43283X105 | $816.5M | 18,245,825 | 6.7% |
| Vaneck ETF Trust(SMH)Put | SEMICONDUCTR ETF | 92189F676 | $792.3M | 2,200,000 | 6.5% |
| Phoenix ED Partners Inc(PXED) | COM | 718968100 | $754.5M | 24,901,319 | 6.2% |
| Grupo Aeromexico SAB de CV(AERO) | SPONSORED ADS | 40054J109 | $604.0M | 27,505,017 | 4.9% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $413.2M | 606,000 | 3.4% |
| Ishares TR(IVV) | CORE S&P500 ETF | 464287200 | $377.9M | 551,725 | 3.1% |
| Nvidia Corporation(NVDA)Put | COM | 67066G104 | $376.7M | 2,020,000 | 3.1% |
| Oracle Corp(ORCL)Put | COM | 68389X105 | $292.4M | 1,500,000 | 2.4% |
| Echostar Corp(SATS) | CL A | 278768106 | $267.8M | 2,463,991 | 2.2% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $205.2M | 833,500 | 1.7% |
| Carmax Inc(KMX) | COM | 143130102 | $195.0M | 5,046,474 | 1.6% |
| Global Business Travel Group(GBTG) | COM CL A | 37890B100 | $175.1M | 22,884,991 | 1.4% |
| Rackspace Technology Inc(RXT) | COM | 750102105 | $125.8M | 129,609,000 | 1.0% |
| Welltower Inc(WELL) | COM | 95040Q104 | $95.5M | 514,660 | 0.8% |
| Nvidia Corporation(NVDA) | COM | 67066G104 | $93.3M | 500,000 | 0.8% |
| Prologis Inc.(PLD) | COM | 74340W103 | $77.6M | 607,590 | 0.6% |
| Equinix Inc(EQIX) | COM | 29444U700 | $67.5M | 88,070 | 0.6% |
| Uniti Group LLC(UNIT) | COM SHS | 912932100 | $67.3M | 9,596,073 | 0.6% |
| Comcast Corp New(CMCSA) | CL A | 20030N101 | $66.8M | 2,234,600 | 0.5% |
| USA Today Co Inc(TDAY) | COM | 36472T109 | $62.5M | 12,128,756 | 0.5% |
| Figure Technology Solutio(FIGR) | COM CL A | 349381103 | $49.8M | 1,548,527 | 0.4% |
| Digital Rlty TR Inc(DLR) | COM | 253868103 | $48.0M | 310,500 | 0.4% |
| Ventas Inc(VTR) | COM | 92276F100 | $44.4M | 573,400 | 0.4% |
| Extra Space Storage Inc(EXR) | COM | 30225T102 | $38.2M | 293,720 | 0.3% |
| Kennametal Inc(KMT) | COM | 489170100 | $38.1M | 1,340,673 | 0.3% |
| Community Health SYS Inc New(CYH) | COM | 203668108 | $36.9M | 11,838,609 | 0.3% |
| Public Storage Oper Co(PSA) | COM | 74460D109 | $36.4M | 140,290 | 0.3% |
| Concentrix Corp(CNXC)Put | COM | 20602D101 | $34.5M | 829,700 | 0.3% |
| UDR Inc(UDR) | COM | 902653104 | $32.5M | 885,490 | 0.3% |
| Simon Ppty Group Inc New(SPG) | COM | 828806109 | $31.3M | 169,000 | 0.3% |
| Realty Income Corp(O) | COM | 756109104 | $28.7M | 508,760 | 0.2% |
| Camden Ppty TR(CPT) | SH BEN INT | 133131102 | $27.9M | 253,690 | 0.2% |
| IAC Inc(IAC) | COM NEW | 44891N208 | $27.4M | 700,000 | 0.2% |
| Midcap Financial Invstmnt Co(MFIC) | COM NEW | 03761U502 | $27.3M | 2,388,870 | 0.2% |
| Brixmor Ppty Group Inc(BRX) | COM | 11120U105 | $26.9M | 1,024,300 | 0.2% |
| Janus Detroit STR TR(JAAA) | HENDRSON AAA CL | 47103U845 | $25.3M | 500,000 | 0.2% |
| Kimco Rlty Corp(KIM) | COM | 49446R109 | $25.1M | 1,239,460 | 0.2% |
| Iron MTN Inc del(IRM) | COM | 46284V101 | $22.0M | 265,539 | 0.2% |
| Agree Rlty Corp(ADC) | COM | 008492100 | $21.5M | 298,880 | 0.2% |
| Sabre Corp(SABR) | COM | 78573M104 | $19.6M | 14,400,819 | 0.2% |
| SSgA Active TR(PRIV) | SPDR SSGA IG PUB | 78470P622 | $19.3M | 760,000 | 0.2% |
| Aeva Technologies Inc(AEVA) | COM NEW | 00835Q202 | $18.5M | 1,390,725 | 0.2% |
| Kite Rlty Group TR(KRG) | COM NEW | 49803T300 | $18.4M | 768,330 | 0.2% |
| American Homes 4 Rent(AMH) | CL A | 02665T306 | $17.6M | 546,880 | 0.1% |
| Invitation Homes Inc(INVH) | COM | 46187W107 | $16.4M | 589,860 | 0.1% |
| Omega Healthcare Invs Inc(OHI) | COM | 681936100 | $16.0M | 361,110 | 0.1% |
| Vici Pptys Inc(VICI) | COM | 925652109 | $16.0M | 568,370 | 0.1% |