Q4 2025 Holdings
Filed 2026-02-11 | 52 holdings | $306.0M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr Gold TR(GLD)Put | GOLD SHS | 78463V107 | $49.5M | 125,000 | 16.2% |
| Ishares Silver TR(SLV)Call | ISHARES | 46428Q109 | $38.3M | 595,000 | 12.5% |
| Ishares TR(HYG)Put | IBOXX HI YD ETF | 464288513 | $32.3M | 400,000 | 10.5% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $30.1M | 49,000 | 9.8% |
| Spdr Gold TR(GLD)Call | GOLD SHS | 78463V107 | $27.7M | 70,000 | 9.1% |
| Ishares Gold TR(IAU) | ISHARES NEW | 464285204 | $16.9M | 208,000 | 5.5% |
| Vaneck ETF Trust(GDX)Put | GOLD MINERS ETF | 92189F106 | $16.7M | 195,000 | 5.5% |
| Vaneck ETF Trust(GDX)Call | GOLD MINERS ETF | 92189F106 | $12.9M | 150,000 | 4.2% |
| Alibaba Group Hldg LTD | NOTE 0.500% 6/0 | 01609WBG6 | $10.9M | $7,000,000 | 3.6% |
| Nvidia Corporation(NVDA)Put | COM | 67066G104 | $7.5M | 40,000 | 2.4% |
| Jd.com Inc | NOTE 0.250% 6/0 | 47215PAJ5 | $7.0M | $7,000,000 | 2.3% |
| Kraneshares Trust(KWEB)Call | CSI CHI INTERNET | 500767306 | $5.1M | 150,000 | 1.7% |
| Sprott Asset Management LP(CEF/U) | PHYSICAL GOLD AN | 85208R101 | $5.0M | 110,000 | 1.6% |
| Shift4 Pmts Inc | NOTE 0.500% 8/0 | 82452JAD1 | $4.8M | $5,000,000 | 1.6% |
| Centene Corp del(CNC)Call | COM | 15135B101 | $3.3M | 80,000 | 1.1% |
| Oil STS Intl Inc | NOTE 4.750% 4/0 | 678026AK1 | $3.0M | $3,000,000 | 1.0% |
| Neogenomics Inc | NOTE 0.250% 1/1 | 64049MAB6 | $2.7M | $3,000,000 | 0.9% |
| Salesforce Inc(CRM)Call | COM | 79466L302 | $2.6M | 10,000 | 0.9% |
| Lithium Argentina AG | NOTE 1.750% 1/1 | 53680QAA6 | $2.6M | $2,860,000 | 0.8% |
| NU Hldgs LTD(NU)Call | ORD SHS CL A | G6683N103 | $2.3M | 140,000 | 0.8% |
| Antero Resources Corp(AR) | COM | 03674X106 | $2.2M | 65,000 | 0.7% |
| Equity Lifestyle Pptys Inc(ELS) | COM | 29472R108 | $2.1M | 35,000 | 0.7% |
| Enphase Energy Inc | NOTE 3/0 | 29355AAK3 | $1.7M | $2,000,000 | 0.6% |
| Salesforce Inc(CRM) | COM | 79466L302 | $1.3M | 5,000 | 0.4% |
| Humana Inc(HUM) | COM | 444859102 | $1.2M | 4,600 | 0.4% |
| Cenovus Energy Inc(CVE) | COM | 15135U109 | $1.1M | 65,000 | 0.4% |
| Mind Medicine Mindmed Inc(BRD1EUR)Call | COM NEW | 60255C885 | $1.1M | 80,000 | 0.4% |
| Canadian NAT RES LTD(CNQ) | COM | 136385101 | $1.0M | 30,000 | 0.3% |
| I-80 Gold Corp(IAU-WU) | *W EXP 11/16/202 | 44955L155 | $970.6K | 1,055,000 | 0.3% |
| Petroleo Brasileiro SA Petro(PBR) | SPONSORED ADR | 71654V408 | $948.0K | 80,000 | 0.3% |
| Occidental Pete Corp(OXY) | COM | 674599105 | $945.8K | 23,000 | 0.3% |
| Bausch Health COS Inc(BHC) | COM | 071734107 | $834.0K | 120,000 | 0.3% |
| Bausch Health COS Inc(BHC)Call | COM | 071734107 | $834.0K | 120,000 | 0.3% |
| Vista Gold Corp(VGZ) | COM NEW | 927926303 | $748.4K | 380,000 | 0.2% |
| Bill Holdings Inc | NOTE 4/0 | 090043AD2 | $728.6K | $768,000 | 0.2% |
| Molina Healthcare Inc(MOH) | COM | 60855R100 | $694.2K | 4,000 | 0.2% |
| Grifols S A(GRFS) | SP ADR REP B NVT | 398438408 | $654.5K | 70,000 | 0.2% |
| Baker Hughes Company(BKR) | CL A | 05722G100 | $592.0K | 13,000 | 0.2% |
| NU Hldgs LTD(NU) | ORD SHS CL A | G6683N103 | $585.9K | 35,000 | 0.2% |
| Cybin Inc(HELP) | COM NEW | 23256X407 | $543.3K | 66,421 | 0.2% |
| Graftech Intl LTD(EAF) | COM NEW | 384313607 | $542.9K | 35,000 | 0.2% |
| EQT Corp(EQT) | COM | 26884L109 | $536.0K | 10,000 | 0.2% |
| NCL Corp LTD | NOTE 1.125% 2/1 | 62886HBD2 | $500.0K | $500,000 | 0.2% |
| Osisko Development Corp(ODV) | COM NEW | 68828E809 | $488.6K | 140,000 | 0.2% |
| Expand Energy Corporation(EXE) | COM | 165167735 | $386.3K | 3,500 | 0.1% |
| Range RES Corp(RRC) | COM | 75281A109 | $352.6K | 10,000 | 0.1% |
| Halliburton Co(HAL) | COM | 406216101 | $282.6K | 10,000 | 0.1% |
| United States Antimony Corp(UAMY) | COM | 911549103 | $276.1K | 55,000 | 0.1% |
| Mind Medicine Mindmed Inc(BRD1EUR) | COM NEW | 60255C885 | $200.9K | 15,000 | 0.1% |
| Evotec AG(EVO) | SPONSORED ADS | 30050E105 | $96.6K | 31,355 | 0.0% |