Q2 2025 Holdings
Filed 2025-08-12 | 12 holdings | $225.5M | 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 | $142.1M | 230,000 | 63.0% |
| Pennymac Corp | NOTE 8.500% 6/0 | 70932AAH6 | $26.0M | $26,051,000 | 11.5% |
| Redwood Trust Inc | NOTE 7.750% 6/1 | 758075AF2 | $20.5M | $20,717,000 | 9.1% |
| Ready Capital Corp(RC) | COM | 75574U101 | $17.1M | 3,908,983 | 7.6% |
| Rithm Ppty TR Inc | 9.875 FXD-FLT C | 38983D862 | $5.5M | $218,613 | 2.4% |
| Apple Hospitality REIT Inc(APLE) | COM NEW | 03784Y200 | $4.7M | 400,000 | 2.1% |
| Elme Communities(ELME) | SH BEN INT | 939653101 | $2.6M | 162,797 | 1.1% |
| Flexshopper Inc(FPAYQ) | COM NEW | 33939J303 | $2.0M | 1,629,544 | 0.9% |
| Global NET Lease Inc(GNL) | COM NEW | 379378201 | $1.5M | 200,000 | 0.7% |
| Rithm Capital Corp(RITM) | COM NEW | 64828T201 | $1.5M | 133,714 | 0.7% |
| Park Hotels & Resorts Inc(PK) | COM | 700517105 | $1.1M | 110,000 | 0.5% |
| Brightspire Capital Inc(BRSP) | COM CL A | 10949T109 | $998.9K | 197,800 | 0.4% |