Abc Arbitrage SA

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 20, 2026), Abc Arbitrage SA reported 313 stock positions worth $925.7 million. Its top holding was Diageo PLC-Sponsored ADR (DEO) at 5.1% of the portfolio, followed by British American Tob-SP ADR (BTI, 4.9%) and Rio Tinto PLC-Spon ADR (RIO, 4.2%). Compared with Q1 2026, it opened 125 new positions, sold out of 136, added to 41 and reduced 56. The biggest buy was Lloyds Banking Group PLC-ADR (LYG, shares +18306%) and the biggest sale an exit from Ericsson (lm) Tel-SP ADR (ERIC).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0002049221
Portfolio Value
$925.7M (Q2 2026)
SEC Filing
0000945621-26-000933 ↗ filed Jul 20, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q4 2024: $697.3M Q4 2024 Q1 2025: $538.1M Q1 2025 Q2 2025: $875.2M Q2 2025 Q3 2025: $1.0B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $751.9M Q1 2026 Q2 2026: $925.7M $925.7M Q2 2026

Holdings 313 stocks · $925.7M
DEO Diageo PLC-Sponsored ADR 5.07% 584,311 $47.0M Add +15.3%
BTI British American Tob-SP ADR 4.88% 731,156 $45.2M Add +87.1%
RIO Rio Tinto PLC-Spon ADR 4.17% 406,269 $38.6M Add +45.2%
LYG Lloyds Banking Group PLC-ADR 3.58% 5,689,418 $33.2M Add +18306.4%
NWG Natwest Group PLC -Spon ADR 3.54% 1,859,270 $32.8M Add +44.0%
VOD Vodafone Group PLC-SP ADR 3.47% 2,426,727 $32.1M Reduce -27.1%
ING ING Groep N.V.-Sponsored ADR 3.41% 1,006,300 $31.6M New
SHEL Shell PLC-ADR 3.17% 378,254 $29.3M Reduce -5.1%
BP BP PLC-Spons ADR 3.16% 790,506 $29.2M Add +16.8%
GSK GSK PLC-Spon ADR 3.05% 538,873 $28.2M Reduce -0.5%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 2.91% 283,637 $27.0M Add +0.2%
IHG Intercontinental Hotels-ADR 2.87% 153,668 $26.6M Add +14.5%
NGG National Grid PLC-SP ADR 2.70% 301,977 $25.0M Reduce -15.0%
NVO Novo-Nordisk A/S-Spons ADR 1.91% 369,120 $17.7M New
AMX America Movil Sab DE CV 1.44% 512,433 $13.3M Add +22.9%
AEG Aegon Ltd.-NY Reg SHR 1.43% 1,563,550 $13.2M Reduce -25.8%
RYAAY Ryanair Holdings PLC-SP ADR 1.41% 201,142 $13.0M Add +120.4%
SNN Smith & Nephew PLC -Spon ADR 1.17% 375,682 $10.8M Add +29.2%
HLN Haleon PLC-ADR 1.12% 1,109,295 $10.3M Add +132.4%
PUK Prudential PLC-ADR 0.84% 288,740 $7.7M New
HMY Harmony Gold MNG-Spon ADR 0.83% 503,723 $7.7M Reduce -32.1%
UL Unilever PLC-Sponsored ADR 0.78% 120,651 $7.3M New
SYNA Synaptics Inc. 0.77% 57,642 $7.2M New
LEG Leggett & Platt Inc. 0.77% 611,215 $7.2M New
STEL Stellar Bancorp Inc. 0.77% 180,859 $7.1M Add +13.2%
TECH Bio-Techne Corp. 0.77% 100,348 $7.1M New
DBRG Digitalbridge Group Inc. 0.76% 448,178 $7.1M Add +29.5%
NUVL Nuvalent Inc. Class A 0.76% 57,147 $7.1M New
RAMP Liveramp Holdings Inc. 0.76% 186,703 $7.0M New
APGE Apogee Therapeutics Inc. 0.76% 52,918 $7.0M New
PEN Penumbra Inc. 0.76% 22,223 $7.0M Add +72.6%
ACA Arcosa Inc. 0.76% 48,218 $7.0M New
NSA National Storage Affiliates 0.75% 156,367 $7.0M Add +44.1%
WTRG Essential Utilities Inc. 0.75% 180,276 $6.9M Add +58.2%
PHG Koninklijke Philips NVR- NY 0.70% 237,271 $6.5M New
EQNR Equinor ASA-Spon ADR 0.69% 204,684 $6.4M New
CX Cemex Sab-Spons ADR Part Cer 0.63% 487,605 $5.9M Reduce -58.5%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.61% 577,150 $5.7M New
RTO Rentokil Initial PLC-SP ADR 0.60% 195,008 $5.6M Add +39.8%
NATH Nathan's Famous Inc. 0.59% 53,957 $5.5M No change
FMS Fresenius Medical Care-ADR 0.59% 239,751 $5.4M New
LOW Lowe's Cos Inc. 0.57% 23,963 $5.3M New
MRSH Marsh & McLennan Cos 0.57% 31,663 $5.3M Add +464.1%
LEN Lennar Corp. Class A 0.57% 58,098 $5.3M Reduce -41.9%
CVX Chevron Corp. 0.56% 31,384 $5.2M Add +42.8%
CCI Crown Castle Inc. 0.56% 68,542 $5.2M New
NOK Nokia Corp.-Spon ADR 0.56% 388,602 $5.2M New
MLM Martin Marietta Materials 0.55% 8,888 $5.1M Add +202.8%
HBAN Huntington Bancshares Inc. 0.55% 288,202 $5.1M Add +343.6%
ARES Ares Management Corp. Class A 0.55% 45,693 $5.1M New
KEY Keycorp 0.55% 220,410 $5.1M Add +1125.2%
COP Conocophillips 0.55% 48,778 $5.1M New
MPC Marathon Petroleum Corp. 0.55% 19,751 $5.0M New
HIG Hartford Insurance Group Inc. 0.54% 37,754 $5.0M New
TFC Truist Financial Corp. 0.54% 99,790 $5.0M New
BUD Anheuser-Busch Inbev-SPN ADR 0.54% 60,133 $5.0M Reduce -12.5%
WPP WPP PLC-Sponsored ADR 0.49% 291,076 $4.5M New
PSO Pearson PLC-Sponsored ADR 0.48% 281,169 $4.5M Add +25.0%
CCL Carnival Corp. Ltd. 0.47% 153,669 $4.4M New
LRCX Lam Research Corp. 0.44% 9,362 $4.1M Reduce -35.3%
ASX Ase Technology Holding -ADR 0.44% 89,531 $4.0M Add +48.4%
TXNM TXNM Energy Inc. 0.43% 70,642 $4.0M No change
CPRX Catalyst Pharmaceuticals Inc. 0.40% 117,681 $3.7M New
SONY Sony Group Corp. - SP ADR 0.39% 177,908 $3.6M New
NVR NVR Inc. 0.38% 519 $3.5M New
AES AES Corp. 0.38% 241,199 $3.5M New
PAYO Payoneer Global Inc. 0.38% 495,773 $3.5M New
OKE Oneok Inc. 0.37% 39,913 $3.5M Add +27.2%
HEI.A Heico Corp. Class A 0.37% 13,364 $3.4M New
GTLS Chart Industries Inc. 0.37% 16,251 $3.4M No change
IMXI International Money Express 0.35% 224,282 $3.2M Add +43.1%
MDV Modiv Industrial Inc. 0.35% 183,822 $3.2M New
GOOG Alphabet Inc. Class C 0.34% 8,845 $3.1M New
PPL PPL Corp. 0.33% 83,799 $3.0M New
TALK Talkspace Inc. 0.32% 573,850 $3.0M Add +47.8%
ZG Zillow Group Inc. Class A 0.32% 95,075 $3.0M New
SSL Sasol Ltd.-Sponsored ADR 0.32% 301,838 $3.0M Add +1967.1%
DAL Delta Air Lines Inc. 0.32% 31,437 $2.9M New
RELX Relx PLC - Spon ADR 0.31% 90,026 $2.9M New
E Eni SPA-Sponsored ADR 0.29% 58,156 $2.7M Add +376.4%
VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP 0.29% 77,276 $2.7M Add +191.0%
SNPS Synopsys Inc. 0.28% 5,813 $2.6M Reduce -17.3%
WFC Wells Fargo & Co. 0.27% 29,743 $2.5M New
PBR Petroleo Brasileiro-Spon ADR 0.26% 151,762 $2.5M New
DRD Drdgold Ltd.-Sponsored ADR 0.25% 107,960 $2.3M Add +125.0%
AVNS Avanos Medical Inc. 0.23% 85,529 $2.1M New
MET Metlife Inc. 0.23% 24,825 $2.1M Reduce -14.4%
GBTG Global Business Travel Group 0.20% 194,030 $1.8M New
SILA Sila Realty Trust Inc. 0.20% 59,967 $1.8M New
WSR Whitestone REIT 0.20% 95,817 $1.8M New
CZR Caesars Entertainment Inc. 0.20% 59,971 $1.8M New
D Dominion Energy Inc. 0.19% 25,522 $1.7M New
MAR Marriott International Class A 0.18% 4,563 $1.7M New
AEE Ameren Corporation 0.18% 14,859 $1.7M Add +10.6%
VECO Veeco Instruments Inc. 0.17% 21,202 $1.6M Reduce -32.7%
GSAT Globalstar Inc. 0.16% 18,008 $1.5M New
MAA Mid-America Apartment Comm 0.16% 10,446 $1.5M Add +6.5%
TMHC Taylor Morrison Home Corp. 0.16% 20,143 $1.4M New
SLP Simulations Plus Inc. 0.16% 78,869 $1.4M New
LPRO Open Lending Corp. 0.15% 450,304 $1.4M New
SLB SLB Ltd. filed as SLB LIMITED 0.14% 28,364 $1.3M Reduce -10.4%
HMC Honda Motor Co. Ltd.-Spons ADR 0.14% 48,480 $1.3M New
FRT Federal Realty Invs Trust 0.14% 10,296 $1.3M New
BNY Bank of New York Mellon Corp. 0.12% 7,789 $1.1M New
CCRN Cross Country Healthcare Inc. 0.12% 80,752 $1.1M New
DOW Dow Inc. filed as DOW HLDGS INC 0.11% 38,454 $1.1M New
EVO Evotec SE - Spon ADR 0.11% 371,936 $1.0M Reduce -26.9%
GS Goldman Sachs Group Inc. 0.11% 1,017 $1.0M New
EXR Extra Space Storage Inc. 0.10% 6,412 $932K New
TWO Two Harbors Investment Corp. 0.09% 69,374 $861K Add +34.8%
CENTA Central Garden and Pet Co. Class A 0.09% 21,044 $816K Add +163.0%
UDR Udr Inc. 0.08% 19,564 $781K Reduce -90.0%
ARGX Argenx SE - ADR 0.08% 815 $756K Reduce -47.5%
EQT Eqt Corp. 0.08% 13,951 $742K Reduce -60.6%
KMI Kinder Morgan Inc. 0.08% 22,596 $722K New
SHOP Shopify Inc. Class A 0.08% 6,323 $722K New
WEC WEC Energy Group Inc. 0.07% 5,289 $618K Reduce -46.3%
TV Grupo Televisa SA-Spon ADR 0.06% 220,265 $597K New
RF Regions Financial Corp. 0.06% 18,667 $564K Reduce -81.3%
SPCE Virgin Galactic Holdings Inc. 0.06% 188,496 $545K Add +285.2%
DUK Duke Energy Corp. 0.05% 3,527 $446K New
TSM Taiwan Semiconductor-SP ADR 0.05% 933 $446K Add +7.4%
RMD Resmed Inc. 0.05% 2,229 $434K New
CDLR Cadeler A/S-ADR 0.04% 19,029 $417K New
WLII Willow Lane Acquisition Class A 0.04% 40,000 $409K No change
SVIV Spring Valley Acquisitio-A 0.04% 40,000 $407K No change
KBON Karbon Capital Partners Class A 0.04% 40,000 $404K No change
SAC Safeguard Acquisition C Class A 0.04% 40,000 $402K No change
SBXE Silverbox Corp. V Class A 0.04% 40,000 $402K No change
HACQ HCM IV Acquisition Corp. Class-A 0.04% 40,000 $401K No change
IGAC Invest Green Acquisitio Class A 0.04% 40,000 $400K No change
GPAC General Purpose Acquisit-A 0.04% 40,000 $400K No change
KRAQ Krakacquisition Corp. Class A 0.04% 40,000 $400K No change
LPCV Launchpad Cadenza Acqui Class A 0.04% 40,000 $400K No change
LFAC Leapfrog Acquisition Class A 0.04% 40,000 $400K No change
AACI Armada Acq Corp. III-A 0.04% 40,000 $400K No change
TWLV Twelve Seas Investment Co. Class A 0.04% 40,000 $400K No change
DBCA D. Boral Acquisition I Class A 0.04% 40,000 $399K No change
SCPQ Social Commerce Partner Class-A 0.04% 40,000 $399K No change
ALOV Aldabra 4 Liquidity Opp Class A 0.04% 40,000 $398K No change
PAAC Proem Acquisition Corp. I 0.04% 40,000 $398K No change
UAC United Acquisition Corp. I-A 0.04% 40,000 $397K No change
HCIC Hennessy Capital Invest-A 0.04% 40,000 $397K No change
MUZE Muzero Acquisition Corp. Class A 0.04% 40,000 $397K No change
SORN Soren Acquisition Corp. Class A 0.04% 40,000 $397K No change
CAQ Cambridge Acquisition Corp. Class A 0.04% 40,000 $396K No change
IACO Idea Acquisition Corp. Class-A 0.04% 40,000 $396K No change
AACO Abony Acquisition Corp. I-A 0.04% 40,000 $396K No change
XSLL Xsolla Spac 1 Class A 0.04% 40,000 $396K No change
ACAA Averin Cap Acquisitio C Class-A 0.04% 39,000 $388K Reduce -2.5%
ITHA Ithax Acquisition Corp. Class A 0.04% 38,800 $387K Reduce -3.0%
OLPX Olaplex Holdings Inc. 0.04% 186,699 $383K Add +43.1%
BEBE Tge Value Creative Solu Class A 0.04% 38,000 $379K Reduce -5.0%
CEPS Cantor Equity Partners Vi -A 0.04% 35,000 $363K Reduce -12.5%
WENN Wen Acquisition Corp. Class A 0.04% 35,000 $360K Reduce -12.5%
CLBR Colombier Acq III Class A 0.04% 35,000 $359K Reduce -12.5%
INAC Indigo Acquisition Corp. 0.04% 35,000 $359K No change
SSEA Starry Sea Acquisition Corp. 0.04% 35,000 $359K Reduce -12.5%
LWAC Lightwave Acquisition Corp. Class A 0.04% 35,000 $358K No change
OBA Oxley Bridge Acquisitio Class A 0.04% 35,000 $358K Reduce -3.3%
SAAQ Space Asset Acquisition Class A 0.04% 35,000 $357K Reduce -12.5%
EVAC Eqv Ventures Acquisition C-A 0.04% 35,000 $356K Reduce -12.5%
YCY Aa Mission Acquisition-A 0.04% 35,000 $356K Reduce -12.5%
HVMC Highview Merger Corp. Class A 0.04% 35,000 $356K No change
OTGA Otg Acquisition Corp. I Class A 0.04% 35,000 $355K Reduce -12.5%
KOYN CSLM Digital Asset Acqu - A 0.04% 35,000 $355K Reduce -12.5%
CRAN Crane Harbor Acquisitio Class A 0.04% 35,000 $355K Reduce -12.5%
IEAG Infinite Eagle Class-A 0.04% 35,000 $354K Reduce -12.5%
EMIS Emmis Acquisition Corp. Class A 0.04% 35,000 $354K Reduce -12.5%
OIM Oneim Acquisition Class-A 0.04% 35,000 $352K Reduce -12.5%
GIW GIGCAPITAL8 Corp. Class A 0.04% 35,000 $352K Reduce -12.5%
DMII Drugs Made in America Acquis 0.04% 35,000 $352K Reduce -12.5%
TDWD Tailwind 2.0 Acquisitio Class A 0.04% 35,000 $351K Reduce -12.5%
ADAC American Drive Acquisit Class A 0.04% 35,000 $351K Reduce -12.5%
ARCI Archimedes Tech Spac Partner 0.04% 35,000 $350K Reduce -12.5%
MESH Meshflow Acquisition Co. Class A 0.04% 35,000 $350K Reduce -12.5%
BIXI Bitcoin Infrastructure Class A 0.04% 35,000 $350K Reduce -12.5%
XCBE X3 Acquisition Corp. Ltd. Class A 0.04% 35,000 $350K New
BLRK Bluerock Acquisition Corp. Class A 0.04% 35,000 $349K Reduce -12.5%
VHCP Vine Hill Capital Inves Class A 0.04% 35,000 $349K Reduce -12.5%
ZKP Lafayette Digital Acquisitio 0.04% 35,000 $349K Reduce -12.5%
XFLH XFLH Capital Corp. 0.04% 35,000 $349K Reduce -12.5%
ARTC Art Technology Acquisit Class A 0.04% 35,000 $348K Reduce -12.5%
GIX GIGCAPITAL9 Corp. Class A 0.04% 35,000 $348K Reduce -12.5%
FGII FG Imperii Acquisition Class A 0.04% 35,000 $348K Reduce -12.5%
PTOR Praetorian Acquisition Cor-A 0.04% 35,000 $348K Reduce -12.5%
MEVO M Evo Global Acquisitio Class A filed as M EVO GBL ACQUISITION CORP I 0.04% 35,000 $347K Reduce -12.5%
LEGO Legato Merger Corp. IV 0.04% 35,000 $347K Reduce -12.5%
PALO Paloma Acquisition Cor Class-A 0.04% 35,000 $347K Reduce -12.5%
TK Teekay Corp. Ltd. 0.04% 34,182 $342K Add +117.7%
HSHP Himalaya Shipping Ltd. 0.04% 25,330 $338K New
MDLZ Mondelez International Inc. Class A 0.04% 5,744 $332K New
ALF Centurion Acquisition Corp. 0.04% 30,000 $326K No change
CXIIU Churchill Capital Corp. Xii 0.04% 30,000 $324K New
HLXC Helix Acquisition Corp. Class A 0.03% 30,000 $319K No change
MKLY McKinley Acquisition Co. Class A 0.03% 31,092 $316K No change
TACO Berto Acquisition Corp. 0.03% 30,000 $315K No change
CRAQ Cal Redwood Acquisit Class A 0.03% 30,000 $309K No change
FIGX Figx Capital Acquisition C-A 0.03% 30,000 $307K No change
VNME Vendome Acquisition Corp. Class A 0.03% 30,000 $306K No change
IACQU Irenic Acquisition Corp. 0.03% 30,000 $305K New
GSRF GSR IV Acquisition Corp. Class A 0.03% 30,000 $305K No change
GHXIU Gores Holdings Xi Inc. 0.03% 30,000 $305K New
KCAC Kensington Capital Acqu Class A 0.03% 30,000 $305K New
PLUN.U Plutonian Acquisition Corp. I 0.03% 30,000 $304K New
FTRA.U Futurecorp Space Acquisition 0.03% 30,000 $304K New
GUACU Berto Acquisition Corp. II 0.03% 30,000 $304K New
FVAV Fortress Value Acquis V Class A 0.03% 30,000 $303K No change
OTAI.U Starlink AI Acquisition Corp. 0.03% 30,000 $303K New
IDACU Iron Dome Acquisition I Corp. 0.03% 30,000 $303K New
CAES Cantor Equity Partners Vii-A 0.03% 30,000 $303K New
FXACU Fortunex Acquisition Corp. 0.03% 30,000 $302K New
APMCU Ampercap Acquisition Co. Class U 0.03% 30,000 $301K New
DGAC.U Disciplined Growth Acquisiti 0.03% 30,000 $301K New
KEYYU Keystone Acquisition Corp. 0.03% 30,000 $301K New
YICCU Yorkville International Capi 0.03% 30,000 $301K New
BRKHU Burtech Acquisition Corp. II 0.03% 30,000 $301K New
FWACU Futurewave Acquisition Corp. 0.03% 30,000 $301K New
ATLQU Jab Acquisition Corp. I 0.03% 30,000 $301K New
SCII SC II Acquisition Corp. Class A 0.03% 30,000 $301K No change
GSRVU GSR V Acquisition Corp. 0.03% 30,000 $300K New
LTGRU Long Table Growth Corp. 0.03% 30,000 $300K New
ISNRU Snow Rothschild Acquisition 0.03% 30,000 $300K New
CGCFU Cartesian Growth Corp. IV 0.03% 30,000 $300K New
TVIVU Texas Ventures Acquisition I 0.03% 30,000 $300K New
PTACU Patriot Acquisition Corp. 0.03% 30,000 $300K New
SHOTU RMG ML Sports Holdings 0.03% 30,000 $300K New
MZYX Mozayyx Acquisition Cor Class A 0.03% 30,000 $299K No change
TRAD Apex Tech Acquisition Inc. 0.03% 30,000 $299K No change
BIDWU Tribeca Strategic Acquisitio 0.03% 30,000 $299K New
GLED Galaxyedge Acquisition Corp. 0.03% 30,000 $298K No change
IPVVU Interprivate Investment Part 0.03% 30,000 $298K New
PECE Peace Acquisition Corp. 0.03% 30,000 $298K New
BREZ Breeze Acquisition Cor -Ord 0.03% 30,000 $297K New
CTAA Clearthink 1 Acquisitio Class A 0.03% 30,000 $297K No change
APUR Aperture Ac Class A 0.03% 30,000 $297K New
ETSS Energy Transition Special -A 0.03% 30,000 $297K New
ILLU Illumination Acquisitio Class A 0.03% 30,000 $297K No change
OHAC Oceanhawk Acquisition Corp. Class A 0.03% 30,000 $297K New
TRGS TRG Latin America Class A 0.03% 30,000 $297K No change
WAB Wabtec Corp. 0.03% 1,084 $292K New
GILD Gilead Sciences Inc. 0.03% 2,275 $287K Add +0.4%
PEP Pepsico Inc. 0.03% 1,992 $270K New
KFII K&F Growth Acquisition Cor-A 0.03% 25,000 $264K No change
AFL Aflac Inc. 0.03% 2,249 $264K New
SDHI Siddhi Acquisition Corp. Class A 0.03% 25,000 $261K No change
CHPG Championsgate Acquisitio-A 0.03% 25,000 $259K No change
KCHV Kochav Defense Acquisition-A 0.03% 25,000 $259K No change
OYSE Oyster Enterprises II Acq-A 0.03% 25,000 $257K No change
NMP NMP Acquisition Corp. Class A 0.03% 25,000 $257K No change
SOCA Solarius Capital Acquis Class A 0.03% 25,000 $257K No change
PACH Pioneer Acquisition I Class A 0.03% 25,000 $256K No change
PAII Pyrophyte Acquisition Corp. Class A 0.03% 25,000 $255K No change
MBVI M3-Brigade Acquisition Class A 0.03% 25,000 $253K No change
NMR Nomura Holdings Inc.-Spon ADR 0.03% 28,747 $252K New
TVAI Thayer Ventures Acquis Class A 0.03% 23,300 $240K No change
BMY Bristol-Myers Squibb Co. 0.03% 4,164 $240K New
KOF Coca-Cola Femsa Sab-SP ADR 0.03% 2,223 $236K Reduce -89.7%
ROL Rollins Inc. 0.03% 5,645 $236K New
XYZ Block Inc. 0.03% 3,079 $234K New
DKNG Draftkings Inc. Class A 0.02% 9,057 $229K New
GWW WW Grainger Inc. 0.02% 161 $219K New
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.02% 1,914 $218K New
ICE Intercontinental Exchange Inc. 0.02% 1,759 $217K New
CCAQ Collective Acquisition Corp. 0.02% 20,733 $216K No change
CHAR Charlton Aria Acquisiti Class A 0.02% 20,000 $216K No change
CUB Lionheart Holdings Class A 0.02% 20,000 $215K No change
HST Host Hotels & Resorts Inc. 0.02% 8,997 $213K New
NTWO Newbury Street II Ac Class A 0.02% 20,000 $213K No change
AACB Artius II Acquisition Inc. Class A 0.02% 20,000 $210K No change
RDAG Republic Digital Acquis Class A 0.02% 20,000 $206K No change
CEPV Cantor Equity Partners Class A 0.02% 20,000 $206K No change
TLNC Talon Capital Corp. Class A 0.02% 20,000 $206K No change
GCGRU General Catalyst Global Resi 0.02% 20,000 $206K New
HCMA HCM III Acquisition Cor Class A 0.02% 20,000 $206K No change
PCAP Procap Acquisition Corp. Class A 0.02% 20,000 $206K No change
SPEG Silver Pegasus Acquisition-A 0.02% 20,000 $205K No change
AIIA AI Infrastructure Ac-A 0.02% 20,000 $205K No change
MTAL Metals Acquisition II Class A 0.02% 20,100 $204K No change
APAC Stonebridge Acquisition Class A 0.02% 20,000 $203K No change
MCAHU Mountain Crest Acquisition 6 0.02% 20,000 $203K New
BLZR Trailblazer Acquisition Class A 0.02% 20,000 $202K No change
DKS Dick's Sporting Goods Inc. 0.02% 892 $202K New
LATA Galata Acqu Corp. II Class A 0.02% 20,000 $202K No change
RNGT Range Capital Acquisit Class A 0.02% 20,000 $202K No change
LAFA Lafayette Acquisition Corp. 0.02% 20,000 $202K No change
BDCI BTC Development Corp. Class A 0.02% 20,000 $201K No change
APXT Apex Treasury Corp. Class A 0.02% 20,000 $201K No change
CAIIU Collective Acquisition Corp. 0.02% 20,000 $201K New
ALUB Alussa Energy Acquisit II-A 0.02% 20,000 $201K No change
DYOR Insight Digital Partners I-A 0.02% 20,000 $201K No change
EVOX Evolution Global Acquis Class A 0.02% 20,000 $200K No change
NHIV Newhold Investment Corp. IV-A 0.02% 20,000 $200K New
DNMX Dynamix Corp. III Class A 0.02% 20,000 $200K No change
FMAC Future Money Acquisition Cor 0.02% 20,000 $200K No change
KPET Kpet Ultra Paceline Cor Class A 0.02% 20,000 $200K No change
PONO Pono Capital Four Inc. Class A 0.02% 20,000 $199K No change
AACP Apogee Acquisition Corp. Class A 0.02% 20,000 $199K New
ACGC Acp Holdings Acquisitio Class A 0.02% 20,000 $199K New
BHAV Bhav Acquisition Corp. Class A 0.02% 20,000 $199K No change
QLEP Quantum Leap Acqui Cor Class A 0.02% 20,000 $199K New
QADR Qdro Acquisition Corp. Class A 0.02% 20,000 $198K No change
BWIV Blue Water Acquisition Class A filed as BLUE WTR ACQUISITION CORP IV 0.02% 20,000 $198K No change
SUMA Suma Acquisition Corp. Class A 0.02% 20,000 $198K No change
ARCL Arc Group Acquisition I Corp. 0.02% 20,000 $198K New
MYX Maywood Acquisition C2-Class-A 0.02% 20,000 $198K New
RREV Rre Ventures Acqui Corp. Class-A 0.02% 20,000 $197K New
UA Under Armour Inc. Class C 0.02% 29,709 $185K New
TAVI Tavia Acquisition Corp. 0.02% 15,654 $167K No change
JACS Jackson Acquisition Co. Class A 0.02% 15,000 $160K No change
ABEV Ambev SA-ADR 0.02% 47,831 $150K New
ESPR Esperion Therapeutics Inc. 0.01% 42,553 $134K New
WEN The Wendy's Co. 0.01% 14,196 $118K New
Other holdings (68): bonds, preferreds, convertibles and warrants · $378K (not counted above)
SecurityClassShares / PrincipalValueChange
PECER Peace Acquisition Corp.-Right RIGHT 05/19/2031 30,000$14KNew
SAAQW Space Asset Acquisition Corp. *W EXP 03/31/203 13,333$12KNew
SAC.WS Safeguard Acquisition Corp. *W EXP 99/99/999 20,000$12KNo change
GIXXR GIGCAPITAL9 Corp.-RTS RIGHT 12/01/2030 40,000$10KNew
CRANR Crane Harbor Acquisition-RTS RIGHT 12/09/2030 40,000$9KNo change
SCPQW Social Commerce Partner - 30 *W EXP 02/13/203 20,000$9KNo change
ADACW American Dr Acq A -30 *W EXP 02/06/203 13,333$8KNo change
IEAGR Infinite Eagle Acquis-Rights RIGHT 01/13/2031 40,000$8KNo change
BREZR Breeze Acquisition C- Rights RIGHT 03/03/2031 30,000$8KNew
OHACR Oceanhawk Acquisition Corp. Class R RIGHT 05/19/2031 30,000$8KNew
BEBE.WS Tge Value Creative Solutions *W EXP 09/16/203 20,000$8KNo change
DBCAW D. Boral Acquisition I Corp. *W EXP 01/30/203 20,000$8KNo change
PAACW Proem Acquisition Corp. I *W EXP 01/29/203 20,000$8KNo change
IGACR Invest Green Acquisition-RTS RIGHT 11/17/2030 40,000$7KNo change
LFACW Leapfrog Acquisition Corp. *W EXP 11/10/203 20,000$7KNo change
PALOW Paloma Acquisition Corp. I *W EXP 02/12/203 20,000$7KNo change
CTAAR Clearthink 1 Acquisition Cor RIGHT 01/26/2031 30,000$7KNo change
APEX TECH ACQUISITION INC-R RIGHT 02/17/2027 30,000$7KNo change
AACIW Armada Acquisition Corp. III *W EXP 02/13/203 20,000$7KNo change
MEVOW M Evo Global Acq -31 *W EXP 02/18/203 17,500$6KReduce -12.5%
HCICR Hennessy Capital Investm-RTS RIGHT 02/02/2031 40,000$6KNo change
AACOW Abony Acquisition Corp. -CW27 *W EXP 01/29/203 13,333$6KNo change
ALOVW Aldabra 4 Liquidity Opportun *W EXP 12/23/203 13,333$6KNew
SBXE.WS Silverbox Corp. V *W EXP 09/16/203 13,333$6KNo change
BIXIW Bitcoin Infrastructure Acqui *W EXP 11/06/203 20,000$6KNo change
VHCPW Vine Hill Capital Investment *W EXP 11/25/203 13,333$6KNo change
MUZEW Muzero Acquisition - 30 *W EXP 01/30/203 20,000$6KNew
BLRKW Bluerock Acquisition Corp. *W EXP 12/12/203 13,333$6KNo change
TWLVR Twelve Seas Investment Co. II RIGHT 11/21/2030 40,000$6KNo change
SUMAR Suma Acquisition Corp. Class R RIGHT 03/05/2031 20,000$6KNo change
SCIIR SC II Acquisition Corp.-RT RIGHT 11/26/2030 30,000$6KNo change
LEGO.WS Legato Merger Corp. IV *W EXP 99/99/999 13,333$6KNew
XCBEW X3 Acquisition Corp. Ltd. *W EXP 12/19/203 20,000$5KNo change
TRGSR TRG Latin America Acquisitio RIGHT 02/20/2031 30,000$5KNo change
LPCVW Launchpad Cadenza Acquisitio *W EXP 12/15/203 13,333$5KNo change
GPACW General Purpose Acquisition *W EXP 12/03/203 20,000$5KNo change
PTORW Praetorian Acquisition Corp. *W EXP 01/16/203 13,333$5KNew
FGIIW FG Imperii Acquisition Corp. *W EXP 10/14/203 20,000$5KNo change
MKLYR McKinley Acquisition Corp. RIGHT 07/25/2030 20,000$5KNo change
APURR Aperture Ac- Rights RIGHT 05/06/2031 30,000$5KNew
ITHAW Ithax Acquisition Corp. III *W EXP 11/17/203 20,000$5KNo change
MYXXR Maywood Acquisition Corp. 2 RIGHT 02/24/2031 20,000$5KNew
XSLLW Xsolla Spac 1 *W EXP 01/12/203 20,000$5KNew
ARCLR Arc Group Acquisition I Corp. RIGHT 04/21/2031 20,000$5KNew
GIWWR GIGCAPITAL8 Corp.-RTS RIGHT 09/30/2030 18,000$5KReduce -10.0%
BHAVR Bhav Acquisition Corp.-RTS RIGHT 03/18/2031 20,000$5KNew
IACOW Idea Acquisition Corp.-30 *W EXP 01/06/203 13,333$5KNo change
ETSS.WS Energy Transition Special Op *W EXP 99/99/999 15,000$5KNew
AI INFRASTRUCTURE ACQUISITIO RIGHT 99/99/9999 20,000$4KNo change
AACPR Apogee Acquisition Corp. Class R RIGHT 03/27/2031 20,000$4KNew
PONOR Pono Capital Four Inc.-RTS RIGHT 02/20/2031 20,000$4KNew
CAQUW Cambridge Acquisition Corp. *W EXP 01/30/203 13,333$4KNo change
MESHW Meshflow Acquisition Corp. *W EXP 11/20/203 13,333$4KNo change
SORNW Soren Acquisition Corp. *W EXP 12/19/203 13,333$4KNo change
XFLH CAPITAL CORP RIGHT 12/31/2029 40,000$4KNo change
FMACR Future Money Acquisition-RT RIGHT 03/16/2031 20,000$3KNo change
DMIIR Drugs Made in America Acq-RT RIGHT 09/16/2030 40,000$3KNo change
APACR Stonebridge Acquisition II C RIGHT 09/09/2030 20,000$3KNo change
TDWDR Tailwind 2.0 Acquisition-RTS RIGHT 11/07/2030 25,000$3KNo change
EMISR Emmis Acquisition Corp. RIGHT 09/12/2030 20,000$3KNo change
QLEP.WS Quantum Leap Acqu-31 *W EXP 03/11/202 20,000$3KNew
ARCLW Arc Group Acquisition I Corp. *W EXP 04/01/203 20,000$2KNew
PECEW Pece Acq Co. -31 *W EXP 05/19/203 30,000$2KNew
AACPW Apogee Acquisition Corp. *W EXP 03/27/203 20,000$2KNew
LAFAR Lafayette Acquisition Corp. RIGHT 10/24/2030 20,000$2KNo change
GALAXYEDGE ACQUISITION CO-R RIGHT 99/99/9999 10,095$2KNew
MYXXW Maywood Acquisition Corp. 2 *W EXP 04/14/203 20,000$1KNew
LGLGR LGL Group Inc./the - R RGT 17,400$71New

Total filed on the 13F, all lines: $926.1M.

Portfolio Sells Q1 2026 → Q2 2026
ERIC Ericsson (lm) Tel-SP ADR Sold out 0.00% −3.50
VOD Vodafone Group PLC-SP ADR Reduce -27.1% 3.47% −3.18
SHEL Shell PLC-ADR Reduce -5.1% 3.17% −1.76
ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −1.30
NGG National Grid PLC-SP ADR Reduce -15.0% 2.70% −1.29
CX Cemex Sab-Spons ADR Part Cer Reduce -58.5% 0.63% −1.15
GSK GSK PLC-Spon ADR Reduce -0.5% 3.05% −0.93
SEMR Semrush Holdings Inc. Class A Sold out 0.00% −0.84
UAL United Airlines Holdings Inc. Sold out 0.00% −0.84
CSGS CSG Systems Intl Inc. Sold out 0.00% −0.80
UDR Udr Inc. Reduce -90.0% 0.08% −0.80
FOLD Amicus Therapeutics Inc. Sold out 0.00% −0.78
HTBK Heritage Commerce Corp. Sold out 0.00% −0.77
FFWM First Foundation Inc. Sold out 0.00% −0.76
TPH Tri Pointe Homes Inc. Sold out 0.00% −0.75
LNKB Linkbancorp Inc. Sold out 0.00% −0.73
HMY Harmony Gold MNG-Spon ADR Reduce -32.1% 0.83% −0.69
DAWN Day One Biopharmaceuticals I Sold out 0.00% −0.65
AEG Aegon Ltd.-NY Reg SHR Reduce -25.8% 1.43% −0.61
LEN Lennar Corp. Class A Reduce -41.9% 0.57% −0.59
SNCY Sun Country Airlines Holding Sold out 0.00% −0.58
MASI Masimo Corp. Sold out 0.00% −0.56
PRA Proassurance Corp. Sold out 0.00% −0.56
NIO Nio Inc. - ADR Sold out 0.00% −0.54
ADP Automatic Data Processing Sold out 0.00% −0.52
MT Arcelormittal-NY Registered Sold out 0.00% −0.51
AVB Avalonbay Communities Inc. Sold out 0.00% −0.50
FFIC Flushing Financial Corp. Sold out 0.00% −0.47
ACLX Arcellx Inc. Sold out 0.00% −0.46
TRV The Travelers Cos Inc. Sold out 0.00% −0.46
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −0.45
APLS Apellis Pharmaceuticals Inc. Sold out 0.00% −0.45
STKL Sunopta Inc. Sold out 0.00% −0.41
CVGW Calavo Growers Inc. Sold out 0.00% −0.40
AMT American Tower Corp. Sold out 0.00% −0.36
BLFY Blue Foundry Bancorp Sold out 0.00% −0.35
HD Home Depot Inc. Sold out 0.00% −0.33
WMB Williams Cos Inc. Sold out 0.00% −0.32
SAP Sap SE-Sponsored ADR Sold out 0.00% −0.31
CWEN.A Clearway Energy Inc. Class A Sold out 0.00% −0.30
RF Regions Financial Corp. Reduce -81.3% 0.06% −0.29
DHR Danaher Corp. Sold out 0.00% −0.28
ONTF ON24 Inc. Sold out 0.00% −0.27
HEI Heico Corp. Sold out 0.00% −0.27
REG Regency Centers Corp. Sold out 0.00% −0.26
KOF Coca-Cola Femsa Sab-SP ADR Reduce -89.7% 0.03% −0.25
CUK Carnival PLC-ADR Sold out 0.00% −0.24
V Visa Inc. Class A Sold out 0.00% −0.24
Z Zillow Group Inc. Class C Sold out 0.00% −0.23
EQT Eqt Corp. Reduce -60.6% 0.08% −0.22

Portfolio Buys Q1 2026 → Q2 2026
LYG Lloyds Banking Group PLC-ADR Add +18306.4% 3.58% +3.56
ING ING Groep N.V.-Sponsored ADR New 3.41% +3.41
NVO Novo-Nordisk A/S-Spons ADR New 1.91% +1.91
BTI British American Tob-SP ADR Add +87.1% 4.88% +1.84
NWG Natwest Group PLC -Spon ADR Add +44.0% 3.54% +0.98
PUK Prudential PLC-ADR New 0.84% +0.84
UL Unilever PLC-Sponsored ADR New 0.78% +0.78
SYNA Synaptics Inc. New 0.77% +0.77
LEG Leggett & Platt Inc. New 0.77% +0.77
TECH Bio-Techne Corp. New 0.77% +0.77
NUVL Nuvalent Inc. Class A New 0.76% +0.76
RAMP Liveramp Holdings Inc. New 0.76% +0.76
APGE Apogee Therapeutics Inc. New 0.76% +0.76
ACA Arcosa Inc. New 0.76% +0.76
RYAAY Ryanair Holdings PLC-SP ADR Add +120.4% 1.41% +0.71
PHG Koninklijke Philips NVR- NY New 0.70% +0.70
RIO Rio Tinto PLC-Spon ADR Add +45.2% 4.17% +0.69
EQNR Equinor ASA-Spon ADR New 0.69% +0.69
ORLA Orla Mining Ltd. New 0.61% +0.61
FMS Fresenius Medical Care-ADR New 0.59% +0.59
LOW Lowe's Cos Inc. New 0.57% +0.57
CCI Crown Castle Inc. New 0.56% +0.56
NOK Nokia Corp.-Spon ADR New 0.56% +0.56
ARES Ares Management Corp. Class A New 0.55% +0.55
COP Conocophillips New 0.55% +0.55
MPC Marathon Petroleum Corp. New 0.55% +0.55
HIG Hartford Insurance Group Inc. New 0.54% +0.54
TFC Truist Financial Corp. New 0.54% +0.54
KEY Keycorp Add +1125.2% 0.55% +0.50
IHG Intercontinental Hotels-ADR Add +14.5% 2.87% +0.49
WPP WPP PLC-Sponsored ADR New 0.49% +0.49
HLN Haleon PLC-ADR Add +132.4% 1.12% +0.48
CCL Carnival Corp. Ltd. New 0.47% +0.47
MRSH Marsh & McLennan Cos Add +464.1% 0.57% +0.44
HBAN Huntington Bancshares Inc. Add +343.6% 0.55% +0.42
CPRX Catalyst Pharmaceuticals Inc. New 0.40% +0.40
SONY Sony Group Corp. - SP ADR New 0.39% +0.39
AES AES Corp. New 0.38% +0.38
NVR NVR Inc. New 0.38% +0.38
PAYO Payoneer Global Inc. New 0.38% +0.38
HEI.A Heico Corp. Class A New 0.37% +0.37
MDV Modiv Industrial Inc. New 0.35% +0.35
GOOG Alphabet Inc. Class C New 0.34% +0.34
PPL PPL Corp. New 0.33% +0.33
MLM Martin Marietta Materials Add +202.8% 0.55% +0.32
ZG Zillow Group Inc. Class A New 0.32% +0.32
DAL Delta Air Lines Inc. New 0.32% +0.32
RELX Relx PLC - Spon ADR New 0.31% +0.31
SSL Sasol Ltd.-Sponsored ADR Add +1967.1% 0.32% +0.29
WFC Wells Fargo & Co. New 0.27% +0.27

Notes & Other Activity Q1 2026 → Q2 2026
PL.WS Planet Labs PBC -CW26 *W EXP 12/06/202 Sold out 37,299 $614Kbefore exit
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Sold out 6,237 $268Kbefore exit
PECER Peace Acquisition Corp.-Right RIGHT 05/19/2031 New 30,000 $14K
SAAQW Space Asset Acquisition Corp. *W EXP 03/31/203 New 13,333 $12K
GIXXR GIGCAPITAL9 Corp.-RTS RIGHT 12/01/2030 New 40,000 $10K
BREZR Breeze Acquisition C- Rights RIGHT 03/03/2031 New 30,000 $8K
OHACR Oceanhawk Acquisition Corp. Class R RIGHT 05/19/2031 New 30,000 $8K
SSACR Spacsphere Acquisition C-RTS RIGHT 02/06/2031 Sold out 40,000 $7Kbefore exit
MEVOW M Evo Global Acq -31 *W EXP 02/18/203 Reduce -12.5% 17,500 $6K
ALOVW Aldabra 4 Liquidity Opportun *W EXP 12/23/203 New 13,333 $6K
MUZEW Muzero Acquisition - 30 *W EXP 01/30/203 New 20,000 $6K
SVAQW Silicon Valley Acquisition C *W EXP 12/08/203 Sold out 20,000 $6Kbefore exit
LEGO.WS Legato Merger Corp. IV *W EXP 99/99/999 New 13,333 $6K
PTORW Praetorian Acquisition Corp. *W EXP 01/16/203 New 13,333 $5K
APURR Aperture Ac- Rights RIGHT 05/06/2031 New 30,000 $5K
IPXGW Columbus Circle Capital Corp. *W EXP 02/11/203 Sold out 13,333 $5Kbefore exit
MYXXR Maywood Acquisition Corp. 2 RIGHT 02/24/2031 New 20,000 $5K
XSLLW Xsolla Spac 1 *W EXP 01/12/203 New 20,000 $5K
BPACR Blueport Acquisition Ltd. R RIGHT 02/13/2027 Sold out 25,000 $5Kbefore exit
ARCLR Arc Group Acquisition I Corp. RIGHT 04/21/2031 New 20,000 $5K
GIWWR GIGCAPITAL8 Corp.-RTS RIGHT 09/30/2030 Reduce -10.0% 18,000 $5K
BHAVR Bhav Acquisition Corp.-RTS RIGHT 03/18/2031 New 20,000 $5K
ETSS.WS Energy Transition Special Op *W EXP 99/99/999 New 15,000 $5K
AACPR Apogee Acquisition Corp. Class R RIGHT 03/27/2031 New 20,000 $4K
PONOR Pono Capital Four Inc.-RTS RIGHT 02/20/2031 New 20,000 $4K
QLEP.WS Quantum Leap Acqu-31 *W EXP 03/11/202 New 20,000 $3K
ARCLW Arc Group Acquisition I Corp. *W EXP 04/01/203 New 20,000 $2K
PECEW Pece Acq Co. -31 *W EXP 05/19/203 New 30,000 $2K
AACPW Apogee Acquisition Corp. *W EXP 03/27/203 New 20,000 $2K
GALAXYEDGE ACQUISITION CO-R RIGHT 99/99/9999 New 10,095 $2K
SSACW Spacsphere Acquisition - 31 *W EXP 02/06/203 Sold out 20,000 $2Kbefore exit
MYXXW Maywood Acquisition Corp. 2 *W EXP 04/14/203 New 20,000 $1K
BLACKROCK UTILITIES INFR- RT RIGHT 04/02/2026 Sold out 39,733 $318before exit
LGLGR LGL Group Inc./the - R RGT New 17,400 $71

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 313$925.7MDEO, BTI, RIO, LYG, NWG
Q1 2026 325$751.9MVOD, DEO, SHEL, BP, NGG
Q4 2025 305$1.1BBTI, HMY, DEO, VOD, ERIC
Q3 2025 199$1.0BAZN, SBSW, VOD, BTI, DEO
Q2 2025 196$875.2MERIC, BTI, VOD, DEO, RELX
Q1 2025 191$538.1MERIC, AZN, BTI, DEO, RIO
Q4 2024 192$697.3MDEO, TS, BTI, BP, VOD