Basso Capital Management, L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Basso Capital Management, L.P. reported 115 stock positions worth $167.9 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 20.5% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 11.0%) and VG Morningstar TS MKT ETF-US (VTI, 10.0%). Compared with Q3 2025, it opened 41 new positions, sold out of 4, added to 31 and reduced 13. The biggest buy was iShares Russell 2000 ETF (IWM, shares +578%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −34%).

Most Recent 13F
Q2 2026
Location
STAMFORD, CT
CIK
0001287978
Portfolio Value
$167.9M (Q4 2025)
SEC Filing
0001013594-26-000243 ↗ filed Feb 17, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $106.0M Q1 2024 Q2 2024: $110.9M Q2 2024 Q3 2024: $108.7M Q3 2024 Q4 2024: $115.6M Q4 2024 Q1 2025: $117.5M Q1 2025 Q2 2025: $134.9M Q2 2025 Q3 2025: $149.4M Q3 2025 Q4 2025: $167.9M $167.9M Q4 2025 Q1 2026: $163.4M Q1 2026 Q2 2026: $405.9M Q2 2026

Holdings 115 stocks · $167.9M
VOO Vanguard S&P 500 ETF 20.49% 54,879 $34.4M Add +0.0%
SPY SS SPDR S&P 500 ETF Trust-US 11.03% 27,165 $18.5M Add +0.1%
VTI VG Morningstar TS MKT ETF-US 9.97% 49,963 $16.8M Add +3.3%
GLD SPDR Gold Shares 6.03% 25,535 $10.1M Add +3.8%
IWM iShares Russell 2000 ETF 5.49% 37,447 $9.2M Add +578.3%
RSP Invesco S&P 500 Equal Weight 5.43% 47,591 $9.1M Reduce -33.7%
PAAA Pgim Aaa Clo ETF 4.66% 152,556 $7.8M Add +38.8%
SLV iShares Silver Trust 2.95% 76,970 $5.0M Add +10.5%
MPLX MPLX LP 2.26% 71,200 $3.8M No change
GOOGL Alphabet Inc. Class A 2.19% 11,737 $3.7M Add +24.3%
ET Energy Transfer LP 1.91% 195,000 $3.2M No change
IBIT iShares Bitcoin Trust ETF 1.71% 57,685 $2.9M Reduce -0.7%
EMXC iShares MSCI Emr MRK Ex Chna 1.65% 38,230 $2.8M Add +23.7%
EPD Enterprise Products Partners 1.22% 63,800 $2.0M Reduce -0.7%
QQQM Invesco Nasdaq 100 ETF 1.22% 8,081 $2.0M Add +2.0%
CLOZ Eldridge BBB-B Clo ETF 1.13% 71,589 $1.9M Add +28.4%
FBTC Fidelity Wise Origin Bitcoin 1.12% 24,675 $1.9M Reduce -19.4%
OKE Oneok Inc. 1.11% 25,352 $1.9M No change
WMB Williams Cos Inc. 1.09% 30,450 $1.8M No change
WES Western Midstream Partners L 0.99% 42,150 $1.7M No change
PPLT Abrdn Physical Platinum SHRS 0.92% 8,286 $1.5M Add +312.2%
QQQ Invesco QQQ Trust Series 1 0.89% 2,442 $1.5M Add +94.3%
MSFT Microsoft Corp. 0.87% 3,031 $1.5M Add +20.4%
URA Global X Uranium ETF 0.83% 32,575 $1.4M Add +26.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.77% 4,386 $1.3M Reduce -25.3%
TRGP Targa Resources Corp. 0.72% 6,525 $1.2M Add +1.6%
EWY iShares MSCI South Korea ETF 0.61% 10,572 $1.0M Add +710.1%
HESM Hess Midstream LP Class A 0.60% 29,000 $1.0M Add +4.5%
PAA Plains All Amer Pipeline LP 0.58% 54,200 $973K No change
BBJP JPMorgan Betabuilders Japan 0.55% 13,945 $919K Add +102.4%
CPER United States Copper Index 0.53% 25,475 $891K Add +164.0%
LNG Cheniere Energy Inc. 0.44% 3,800 $739K No change
TRP TC Energy Corp. 0.44% 13,370 $735K No change
FSK FS KKR Capital Corp. 0.42% 47,500 $703K Reduce -20.8%
BRK.B Berkshire Hathaway Inc. Class B 0.36% 1,194 $600K Add +2032.1%
WHF Whitehorse Finance Inc. 0.33% 80,000 $556K Reduce -30.5%
DFUV Dimensional US Marketwide Va 0.33% 11,800 $550K No change
NVO Novo-Nordisk A/S-Spons ADR 0.30% 9,750 $496K Add +50.0%
ITOT iShares Core S&P Total U.S. 0.29% 3,312 $492K New
SCHD Schwab US DVD Equity ETF 0.29% 17,534 $481K New
GSLC Goldman Activebeta US LC ETF 0.23% 2,958 $392K New
PALL Abrdn Physical Palladium SHS 0.23% 2,690 $391K New
VGSH Vanguard Short-Term Treasury 0.23% 6,477 $380K Add +88.0%
GOOG Alphabet Inc. Class C 0.22% 1,179 $370K Add +76.8%
DGRO iShares Core Dividend Growth 0.19% 4,500 $312K New
SUN Sunoco LP 0.18% 5,680 $298K No change
DABS Doubleline Asset-Backed ETF 0.17% 5,500 $280K Add +57.1%
JAAA Janus Henderson Aaa Clo ETF 0.16% 5,413 $274K New
AMZN Amazon.com Inc. 0.16% 1,138 $263K Reduce -38.3%
LIN Linde PLC 0.15% 592 $252K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.15% 867 $252K No change
VXF Vanguard Extended Market ETF 0.15% 1,198 $251K No change
META Meta Platforms Inc. Class A 0.14% 350 $231K Add +75.0%
XLE SS Energy Select Sector 0.13% 5,010 $224K No change
NVDA Nvidia Corp. 0.13% 1,198 $223K Add +199.5%
KWEB Kranesh Csi China Internet 0.13% 6,500 $221K Reduce -7.5%
VTV Vanguard Mrngstr Val ETF-Aui 0.13% 1,155 $221K New
BXSL Blackstone Secured Lending F 0.13% 8,200 $216K New
JPM JPMorgan Chase & Co. 0.12% 604 $195K No change
SOXX iShares Semiconductor ETF 0.11% 641 $193K Reduce -13.3%
PBA Pembina Pipeline Corp. 0.11% 5,001 $190K No change
IVW iShares S&P 500 Growth ETF 0.11% 1,522 $188K Add +657.2%
VG Venture Global Inc. Class A 0.10% 25,000 $171K New
VPU Vanguard Utilities ETF 0.10% 902 $167K No change
MO Altria Group Inc. 0.08% 2,315 $133K Add +208.7%
SU Suncor Energy Inc. 0.07% 2,700 $120K No change
VHT Vanguard Health Care ETF 0.07% 398 $115K No change
QUAL iShares MSCI USA Quality Fac 0.07% 568 $113K New
KO The Coca-Cola Co. 0.07% 1,606 $112K New
ABBV Abbvie Inc. 0.06% 472 $108K New
ED Consolidated Edison Inc. 0.06% 1,042 $103K Add +62.3%
OEF iShares S&P 100 ETF 0.06% 300 $103K New
IJH iShares Core S&P Midcap ETF 0.05% 1,352 $89K Reduce -93.7%
AAPL Apple Inc. 0.05% 324 $88K New
BMY Bristol-Myers Squibb Co. 0.05% 1,584 $85K New
AVGO Broadcom Inc. 0.05% 240 $83K New
CNQ Canadian Natural Resources 0.05% 2,400 $81K No change
AEE Ameren Corporation 0.05% 796 $79K No change
PSX Phillips 66 0.05% 612 $79K No change
MS Morgan Stanley 0.05% 444 $79K New
GD General Dynamics Corp. 0.05% 230 $77K New
SOBO South Bow Corp. 0.04% 2,674 $73K No change
JNJ Johnson & Johnson 0.04% 325 $67K New
PM Philip Morris International 0.04% 389 $62K No change
HD Home Depot Inc. 0.03% 170 $58K New
MCD McDonald's Corp. 0.03% 183 $56K New
IYW iShares Ustechnology ETF 0.03% 270 $54K New
BP BP PLC-Spons ADR 0.03% 1,500 $52K No change
PEP Pepsico Inc. 0.03% 352 $51K No change
ETR Entergy Corp. 0.03% 506 $47K New
SPYM Ste STR SPDR PT S&P 500 ETF 0.03% 582 $47K No change
XLV SS Health Care Select Sector 0.03% 286 $44K New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.02% 884 $38K Reduce -33.7%
HON Honeywell International Inc. 0.02% 172 $34K New
SO The Southern Co. 0.02% 370 $32K New
LLY Eli Lilly & Co. 0.02% 28 $30K New
ORCL Oracle Corp. 0.02% 151 $29K New
MOAT Vaneck Morningstar Wide Moat 0.02% 270 $28K No change
PG The Procter & Gamble Co. 0.02% 192 $28K New
CVX Chevron Corp. 0.02% 179 $27K New
DUK Duke Energy Corp. 0.01% 212 $25K New
LMT Lockheed Martin Corp. 0.01% 51 $25K New
EMR Emerson Electric Co. 0.01% 185 $25K New
IJR iShares Core S&P Small-Cap E 0.01% 202 $24K New
AZO AutoZone Inc. 0.01% 7 $24K New
SCHG Schwab US Large-Cap Growth 0.01% 692 $23K No change
DYNF Ishrs US E F R A ETF-Usd Inc. 0.01% 292 $18K No change
EWS iShares MSCI Singapore ETF 0.01% 500 $14K New
MA Mastercard Inc. Class A 0.01% 22 $13K New
UNH Unitedhealth Group Inc. 0.01% 36 $12K New
CLOB Vaneck Aa-BB Clo ETF 0.01% 185 $9K No change
XLP SS Consumer Staples Sel Sect 0.00% 100 $8K New
CSCO Cisco Systems Inc. 0.00% 100 $8K New
EEMS iShares MSCI Emerging MKT SM 0.00% 105 $7K Add +38.2%
FETH Fidelity Ethereum Fund 0.00% 140 $4K Reduce -98.7%

Portfolio Sells Q3 2025 → Q4 2025
RSP Invesco S&P 500 Equal Weight Reduce -33.7% 5.43% −3.69
FBTC Fidelity Wise Origin Bitcoin Reduce -19.4% 1.12% −0.92
IJH iShares Core S&P Midcap ETF Reduce -93.7% 0.05% −0.89
IBIT iShares Bitcoin Trust ETF Reduce -0.7% 1.71% −0.82
IBM Intl Business Machines Corp. Reduce -25.3% 0.77% −0.34
KBA Kraneshares Bosera MSCI Chin Sold out 0.00% −0.34
FETH Fidelity Ethereum Fund Reduce -98.7% 0.00% −0.31
FXE Invesco Currencyshares Euro Sold out 0.00% −0.25
WHF Whitehorse Finance Inc. Reduce -30.5% 0.33% −0.20
FSK FS KKR Capital Corp. Reduce -20.8% 0.42% −0.18
STIP iShares 0-5 Year Tips Bond E Sold out 0.00% −0.14
EPD Enterprise Products Partners Reduce -0.7% 1.22% −0.13
AMZN Amazon.com Inc. Reduce -38.3% 0.16% −0.11
KWEB Kranesh Csi China Internet Reduce -7.5% 0.13% −0.07
SOXX iShares Semiconductor ETF Reduce -13.3% 0.11% −0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -33.7% 0.02% −0.02
INDA iShares MSCI India ETF Sold out 0.00% −0.00

Portfolio Buys Q3 2025 → Q4 2025
IWM iShares Russell 2000 ETF Add +578.3% 5.49% +4.59
SLV iShares Silver Trust Add +10.5% 2.95% +0.98
PAAA Pgim Aaa Clo ETF Add +38.8% 4.66% +0.86
PPLT Abrdn Physical Platinum SHRS Add +312.2% 0.92% +0.73
GOOGL Alphabet Inc. Class A Add +24.3% 2.19% +0.65
EWY iShares MSCI South Korea ETF Add +710.1% 0.61% +0.54
QQQ Invesco QQQ Trust Series 1 Add +94.3% 0.89% +0.39
BRK.B Berkshire Hathaway Inc. Class B Add +2032.1% 0.36% +0.34
CPER United States Copper Index Add +164.0% 0.53% +0.34
ITOT iShares Core S&P Total U.S. New 0.29% +0.29
SCHD Schwab US DVD Equity ETF New 0.29% +0.29
EMXC iShares MSCI Emr MRK Ex Chna Add +23.7% 1.65% +0.26
BBJP JPMorgan Betabuilders Japan Add +102.4% 0.55% +0.24
GSLC Goldman Activebeta US LC ETF New 0.23% +0.23
PALL Abrdn Physical Palladium SHS New 0.23% +0.23
DGRO iShares Core Dividend Growth New 0.19% +0.19
GLD SPDR Gold Shares Add +3.8% 6.03% +0.17
JAAA Janus Henderson Aaa Clo ETF New 0.16% +0.16
LIN Linde PLC New 0.15% +0.15
VTV Vanguard Mrngstr Val ETF-Aui New 0.13% +0.13
BXSL Blackstone Secured Lending F New 0.13% +0.13
CLOZ Eldridge BBB-B Clo ETF Add +28.4% 1.13% +0.13
GOOG Alphabet Inc. Class C Add +76.8% 0.22% +0.11
VG Venture Global Inc. Class A New 0.10% +0.10
IVW iShares S&P 500 Growth ETF Add +657.2% 0.11% +0.10
VGSH Vanguard Short-Term Treasury Add +88.0% 0.23% +0.09
NVDA Nvidia Corp. Add +199.5% 0.13% +0.08
QUAL iShares MSCI USA Quality Fac New 0.07% +0.07
KO The Coca-Cola Co. New 0.07% +0.07
ABBV Abbvie Inc. New 0.06% +0.06
OEF iShares S&P 100 ETF New 0.06% +0.06
NVO Novo-Nordisk A/S-Spons ADR Add +50.0% 0.30% +0.05
AAPL Apple Inc. New 0.05% +0.05
BMY Bristol-Myers Squibb Co. New 0.05% +0.05
AVGO Broadcom Inc. New 0.05% +0.05
DABS Doubleline Asset-Backed ETF Add +57.1% 0.17% +0.05
MS Morgan Stanley New 0.05% +0.05
MO Altria Group Inc. Add +208.7% 0.08% +0.05
GD General Dynamics Corp. New 0.05% +0.05
JNJ Johnson & Johnson New 0.04% +0.04
META Meta Platforms Inc. Class A Add +75.0% 0.14% +0.04
HD Home Depot Inc. New 0.03% +0.03
MCD McDonald's Corp. New 0.03% +0.03
IYW iShares Ustechnology ETF New 0.03% +0.03
ETR Entergy Corp. New 0.03% +0.03
XLV SS Health Care Select Sector New 0.03% +0.03
HON Honeywell International Inc. New 0.02% +0.02
SO The Southern Co. New 0.02% +0.02
ED Consolidated Edison Inc. Add +62.3% 0.06% +0.02
LLY Eli Lilly & Co. New 0.02% +0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 135$405.9MVOO, VTI, PAAA, SPY, IWM
Q1 2026 137$163.4MVOO, SPY, VTI, GLD, IWM
Q4 2025 115$167.9MVOO, SPY, VTI, GLD, IWM
Q3 2025 78$149.4MVOO, SPY, VTI, RSP, GLD
Q2 2025 77$134.9MVOO, SPY, VTI, RSP, GLD
Q1 2025 72$117.5MVOO, SPY, VTI, RSP, GLD
Q4 2024 75$115.6MVOO, SPY, RSP, VTI, GLD
Q3 2024 73$108.7MVOO, SPY, VTI, RSP, GLD
Q2 2024 75$110.9MVOO, SPY, VTI, RSP, GLD
Q1 2024 70$106.0MVOO, SPY, VTI, RSP, GLD