Berkley W R Corp.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Berkley W R Corp. reported 193 stock positions worth $1.8 billion. Its top holding was Enterprise Products Partners (EPD) at 12.5% of the portfolio, followed by Energy Transfer (ET, 7.8%) and Nvidia (NVDA, 4.7%). Compared with Q3 2025, it opened 45 new positions, sold out of 20, added to 60 and reduced 23. The biggest buy was Alphabet Class A (GOOGL, shares +219300%) and the biggest sale Amazon.com (AMZN, shares −82%).

Most Recent 13F
Q2 2026
Location
Greenwich, CT
CIK
0000011544
Portfolio Value
$1.8B (Q4 2025)
SEC Filing
0000899140-26-000194 ↗ filed Feb 13, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.6B Q1 2024 Q2 2024: $1.8B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.8B Q4 2024 Q1 2025: $1.4B Q1 2025 Q2 2025: $1.6B Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $1.8B $1.8B Q4 2025 Q1 2026: $1.9B Q1 2026 Q2 2026: $2.0B Q2 2026

Holdings 193 stocks · $1.8B
EPD Enterprise Products Partners 12.50% 6,825,000 $218.8M Add +13.8%
ET Energy Transfer LP 7.77% 8,250,000 $136.0M Add +13.8%
NVDA Nvidia Corp. 4.72% 443,100 $82.6M Add +345.3%
KMI Kinder Morgan Inc. 4.46% 2,837,206 $78.0M No change
MSFT Microsoft Corp. 4.22% 152,600 $73.8M Add +206.4%
GOOGL Alphabet Inc. Class A 3.92% 219,400 $68.7M Add +219300.0%
TSLA Tesla Inc. 3.42% 133,300 $59.9M Add +34.1%
PAA Plains All Amer Pipeline LP 2.75% 2,684,307 $48.2M Add +39.3%
ON On Semiconductor 2.26% 731,118 $39.6M No change
WES Western Midstream Partners L 2.00% 887,163 $35.0M No change
AAM Aa Mission Acquisition Cor-A 1.97% 3,230,319 $34.5M No change
ANSC Agriculture & Natural Soluti 1.61% 2,525,578 $28.3M Reduce -22.3%
FTW Eqv Ventures Acquisition C-A 1.54% 2,574,165 $27.0M Add +258.4%
GBLI Global Indemnity Group LLC-A 1.49% 919,661 $26.1M No change
PGR Progressive Corp. 1.40% 107,589 $24.5M New
NFLX Netflix Inc. 1.33% 249,000 $23.3M New
HAYMAKER ACQUISITION CORP 4 1.28% 1,964,207 $22.4M Add +16.9%
VACH Voyager Acquisition Corp. 1.10% 1,800,824 $19.2M Add +46.1%
EVAC Eqv Ventures Acquisition C-A 1.06% 1,851,475 $18.6M Add +4.5%
KCHV Kochav Defense Acquisition-A 0.98% 1,686,575 $17.1M Add +15.8%
AMZN Amazon.com Inc. 0.92% 69,600 $16.1M Reduce -81.6%
LPAA Launch One Acquisition Corp. 0.86% 1,423,290 $15.1M Add +56.0%
CRM Salesforce Inc. 0.79% 51,900 $13.7M New
SBXDF Silverbox Corp. IV-A 0.73% 1,211,674 $12.8M Add +607.8%
GIW GIGCAPITAL8 Corp. Class A 0.73% 1,289,470 $12.8M New
JOE The St Joe Co. 0.71% 209,542 $12.4M No change
IPCX Inflection Point Acquisiti-A 0.69% 1,184,193 $12.0M Add +198.4%
CAEP Cantor Equity Partners III-A 0.61% 1,053,238 $10.7M Add +747.5%
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP 0.60% 996,278 $10.6M Add +121.8%
TACO Berto Acquisition Corp. 0.59% 1,024,734 $10.4M Add +932.8%
CEPO Cantor Equity Partners I-A 0.58% 970,527 $10.1M Add +467.6%
KFII K&F Growth Acquisition Cor-A 0.58% 975,455 $10.1M No change
CCIX Churchill Capital Corp. Ix 0.57% 936,181 $10.0M Add +2241.9%
COPL Copley Acquisition Corp. Class A 0.54% 928,219 $9.5M No change
MACI Melar Acquisition Corp. I-A 0.53% 868,489 $9.2M Add +34.5%
GTERA Globa Terra Acquisition Co. Class A 0.51% 886,763 $9.0M Add +23.6%
KVACF Keen Vision Acquisition Corp. 0.50% 749,372 $8.8M Add +5.0%
CEPV Cantor Equity Partners Class A 0.46% 792,962 $8.1M New
CAPN Cayson Acquisition Corp. 0.46% 763,302 $8.1M No change
PLMK Plum Acquisition Corp. IV 0.46% 768,888 $8.0M No change
IPEX Inflection Point Acquisition 0.45% 757,946 $7.8M No change
CHAR Charlton Aria Acquisiti Class A 0.44% 736,229 $7.7M Add +0.1%
HSPT Horizon Space Acquisition II 0.43% 722,015 $7.6M Reduce -0.0%
BLUW Blue Water Acquisition C-A filed as BLUE WTR ACQUISITION CORP. I 0.43% 731,506 $7.5M Reduce -21.3%
MRLN Merlin Inc. filed as INFLECTION POINT ACQUISITION 0.39% 633,772 $6.8M Reduce -37.4%
CUB Lionheart Holdings Class A 0.38% 631,867 $6.7M Add +0.0%
VZ Verizon Communications Inc. 0.37% 157,666 $6.4M No change
LPBB Launch Two Acquisition Class A 0.37% 612,172 $6.4M No change
PGAC Pantages Capital Acquisition 0.34% 581,865 $6.0M Add +9.3%
RANG Range Capital Acquisition Co. 0.34% 572,060 $6.0M No change
PELI Pelican Acquisition Corp. 0.34% 578,199 $5.9M Add +11.6%
CHEC Chenghe Acquisition II Class A 0.33% 570,610 $5.7M Add +9.5%
XRPN Armada Acquisition Class A 0.32% 551,981 $5.7M Add +62.2%
SIMA Sim Acquisition Corp. I-A 0.32% 521,518 $5.5M No change
CCII Cohen Circle Acquisit II - A 0.31% 525,621 $5.4M Add +0.9%
BEAG Bold Eagle Acquisition Cor-A 0.31% 508,724 $5.4M Reduce -8.0%
GPACU General Purpose Acquisition 0.30% 518,565 $5.2M New
CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II 0.29% 500,155 $5.1M Add +0.0%
TACH Titan Acquisition Corp. Class A 0.29% 496,400 $5.1M No change
GTEN Gores Holdings X Inc. Class A 0.29% 492,370 $5.0M No change
ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII 0.28% 478,169 $4.9M Reduce -26.0%
DYNC Dynamix Corp. 0.28% 476,452 $4.9M Add +39.4%
RIBB Ribbon Acquisition Corp. 0.27% 462,604 $4.8M No change
OYSE Oyster Enterprises II Acq-A 0.27% 475,872 $4.8M No change
TVAI Thayer Ventures Acquis Class A 0.27% 463,391 $4.7M No change
HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP 0.26% 423,595 $4.5M Reduce -27.1%
NMP NMP Acquisition Corp. Class A 0.25% 445,304 $4.5M No change
AEXA American Exceptionalism Class A 0.25% 391,714 $4.5M Add +12.5%
ALDF Aldel Financial II Inc. 0.25% 425,000 $4.5M No change
POLE Andretti Acquisition Corp. Class A 0.25% 421,812 $4.4M No change
PCAP Procap Acquisition Corp. Class A 0.25% 427,737 $4.3M No change
FSHP Flag Ship Acquisition Corp. 0.25% 400,938 $4.3M No change
OBA Oxley Bridge Acquisitio Class A 0.24% 424,660 $4.3M No change
COLA Columbus Acquisition Corp. 0.24% 405,031 $4.2M Add +0.1%
SPEG Silver Pegasus Acquisition-A 0.24% 415,865 $4.2M No change
SCIIU SC II Acquisition Corp. 0.24% 412,893 $4.2M New
AACB Artius II Acquisition Inc. Class A 0.23% 396,960 $4.1M No change
NPAC New Providence Acquisition-A 0.23% 396,879 $4.1M No change
FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III 0.23% 393,552 $4.1M Reduce -38.7%
SZZL Sizzle Acquisition Corp. Class A 0.23% 396,768 $4.0M No change
KOYN CSLM Digital Asset Acqu - A 0.23% 396,106 $3.9M No change
TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V 0.22% 377,192 $3.9M Add +203.6%
MCGA Yorkville Acquisition Corp. Class A 0.22% 383,347 $3.9M Add +378.1%
MLAC Mountain Lake Acquisition-A 0.22% 362,533 $3.8M Add +66.3%
LATA Galata Acqu Corp. II Class A 0.21% 371,961 $3.7M No change
UYSC Uy Scuti Acquisition Corp. 0.21% 356,642 $3.7M No change
JACS Jackson Acquisition Co. Class A 0.21% 346,265 $3.6M No change
YHNA YHN Acquisition I Ltd. 0.20% 335,894 $3.6M Reduce -50.1%
SOUL Soulpower Acquisition Co. Class A 0.20% 347,330 $3.5M Add +40.1%
BKHA Black Hawk Acquisition Cor-A 0.20% 309,134 $3.5M Add +0.2%
LEGT Legato Merger Corp. III 0.20% 318,745 $3.5M Add +60.1%
YCY Aa Mission Acquisition-A 0.19% 342,434 $3.4M New
EURK Eureka Acquisition Corp. 0.19% 305,628 $3.3M No change
HVMC Highview Merger Corp. Class A 0.19% 333,856 $3.3M Add +68.3%
GPAT GP-Act III Acquisition-A 0.19% 312,290 $3.3M Add +4.8%
BSAA Best Spac I Acquisition-A 0.19% 325,255 $3.3M Add +8.9%
QSEA Quartzsea Acquisition Corp. 0.19% 317,686 $3.2M Add +10.1%
BACC Blue Acquisition Corp. Class A 0.18% 314,222 $3.2M Reduce -42.0%
RFAI RF Acquisition Corp. II 0.18% 297,878 $3.2M Reduce -68.2%
WTG Wintergreen Acquisition Corp. 0.18% 314,346 $3.2M Add +6.0%
FG MERGER II CORP 0.18% 316,028 $3.2M No change
RAC Rithm Acquisition Corp. Class A 0.18% 298,200 $3.1M No change
QUMS Quantumsphere Acquisition Co. 0.17% 303,580 $3.0M Add +104.1%
RDAG Republic Digital Acquis Class A 0.17% 297,570 $3.0M No change
GSRF GSR IV Acquisition Corp. Class A 0.17% 297,598 $3.0M No change
FACT Fact II Acquisition Corp. 0.17% 285,082 $3.0M Add +14.7%
RNGT Range Capital Acquisit Class A 0.17% 297,620 $3.0M New
EMIS Emmis Acquisition Corp. Class A 0.17% 297,048 $2.9M Reduce -0.2%
HCMA HCM III Acquisition Cor Class A 0.17% 288,927 $2.9M Add +8.9%
DRDB Roman DBDR Acquisition Corp. 0.16% 267,634 $2.8M No change
SVCC Stellar V Capital Corp. Class A 0.15% 258,308 $2.7M No change
TONT Graf Global Corp. Class A 0.15% 248,226 $2.7M No change
FVN Future Vision II Acquisition 0.15% 252,261 $2.7M Add +10.9%
WENN Wen Acquisition Corp. Class A 0.15% 259,931 $2.6M Add +162.2%
BLZR Trailblazer Acquisition Class A 0.15% 261,006 $2.6M No change
BDCI BTC Development Corp. Class A 0.15% 260,103 $2.6M Add +74.8%
ALF Centurion Acquisition Corp. 0.15% 243,164 $2.6M Add +8.6%
JENA Jena Acquisition Corp. II - A 0.14% 247,850 $2.5M No change
CRANU Crane Harbor Acquisition Cor 0.14% 247,775 $2.5M New
LWAC Lightwave Acquisition Corp. Class A 0.14% 248,050 $2.5M Add +11.1%
MESHU Meshflow Acquisition Corp. 0.14% 247,900 $2.5M New
AEAQU Activate Energy Acquisition 0.14% 247,826 $2.5M New
RDAC Rising Dragon Acquisition Co. 0.14% 234,886 $2.5M Add +0.1%
IRHOU Iron Horse Acquisition II Co. 0.14% 247,850 $2.5M New
NSTR Northstar Earth & Space Ente filed as VIKING ACQUISITION CORP I 0.14% 247,875 $2.5M New
MBVI M3-Brigade Acquisition Class A 0.14% 242,244 $2.4M No change
OACC Oaktree Acquisition Corp. I-A 0.14% 223,645 $2.4M No change
ATII Archimedes Tech Spac Partner 0.14% 228,206 $2.4M No change
CRAC Crown Reserve Acquisiti Class A 0.13% 233,496 $2.3M New
SDHI Siddhi Acquisition Corp. Class A 0.13% 224,124 $2.3M No change
BCAR D. Boral Arc Acquisit Class A 0.13% 223,168 $2.2M No change
TAVI Tavia Acquisition Corp. 0.13% 212,881 $2.2M Add +0.8%
CHPG Championsgate Acquisitio-A 0.12% 209,151 $2.1M No change
LCCC Lakeshore Acquisition III Co. 0.12% 205,374 $2.1M Add +17.0%
FERA Fifth Era Acquisition Corp. Class A 0.12% 199,544 $2.1M Add +0.4%
CEPF Cantor Equity Partners Class A 0.12% 198,840 $2.0M No change
GFUZ General Fusion Group Ltd. filed as SPRING VY ACQUISITION CORP I 0.12% 198,399 $2.0M No change
AIIA AI Infrastructure Ac-A 0.11% 201,869 $2.0M New
SAC.U Safeguard Acquisition Corp. 0.11% 198,260 $2.0M New
BIXI Bitcoin Infrastructure Class A 0.11% 202,780 $2.0M New
AXIN Axiom Intelligence Class A 0.11% 198,300 $2.0M No change
ENHA Enhanced Group Inc. filed as A PARADISE ACQUISITION CORP 0.11% 198,280 $2.0M Add +99.9%
DSACU Daedalus Special Acquisition 0.11% 198,320 $2.0M New
VHCPU Vine Hill Capital Investment 0.11% 198,341 $2.0M New
ITHAU Ithax Acquisition Corp. III 0.11% 198,200 $2.0M New
BEBE.U Tge Value Creative Solutions 0.11% 198,440 $2.0M New
OAKU Oak Woods Acquisition Corp. Class A 0.10% 151,237 $1.8M Reduce -49.7%
TDAC Translational Development Ac 0.10% 173,530 $1.8M No change
NHIC Newhold Investment Cor III-A 0.10% 173,950 $1.8M No change
VCIC Vine Hill Capital Class A 0.10% 166,250 $1.8M Reduce -79.2%
BAYA Bayview Acquisition Corp. Class A 0.10% 149,185 $1.8M Reduce -50.0%
OTGA Otg Acquisition Corp. I Class A 0.10% 173,740 $1.7M No change
MMTX Miluna Acquisition Class A 0.10% 171,150 $1.7M New
GSHR Gesher Acquisition Corp. II-A 0.10% 163,796 $1.7M No change
RTAC Renatus Tactical Acquisiti-A 0.09% 155,358 $1.7M Reduce -8.9%
PMTR Perimeter Acquis Corp. I Class A 0.09% 148,830 $1.5M No change
FCRS Futurecrest Acquisition Class A 0.09% 149,981 $1.5M Add +51.2%
BCSS Bain Capital GSS Inv- A 0.09% 149,955 $1.5M Add +49.6%
EGHA Egh Acquisition Co. Class A 0.09% 148,800 $1.5M No change
PACH Pioneer Acquisition I Class A 0.09% 148,726 $1.5M No change
INAC Indigo Acquisition Corp. 0.09% 148,815 $1.5M No change
HCACU Hall Chadwick Acquisition Co. 0.09% 148,695 $1.5M New
LFACU Leapfrog Acquisition Corp. 0.09% 148,710 $1.5M New
ALIS Calisa Acquisition Corp. 0.08% 148,785 $1.5M New
LAFA Lafayette Acquisition Corp. 0.08% 148,800 $1.5M New
DNMX Dynamix Corp. III Class A 0.08% 148,786 $1.5M New
EVOX Evolution Global Acquis Class A 0.08% 149,026 $1.5M New
TDWD Tailwind 2.0 Acquisitio Class A 0.08% 149,040 $1.5M New
DTSQ DT Cloud Star Acquisition Co. 0.08% 132,501 $1.4M Reduce -80.3%
ALUB.U Alussa Energy Acquisition Co. 0.07% 124,088 $1.3M New
SCPQU Social Commerce Partners Cor 0.07% 124,026 $1.2M New
SVAQU Silicon Valley Acquisition C 0.07% 124,026 $1.2M New
SSEA Starry Sea Acquisition Corp. 0.07% 115,658 $1.2M New
FIGX Figx Capital Acquisition C-A 0.07% 114,092 $1.1M No change
APAC Stonebridge Acquisition Class A 0.06% 113,358 $1.1M New
NTWO Newbury Street II Ac Class A 0.06% 100,000 $1.0M No change
SOCA Solarius Capital Acquis Class A 0.06% 99,230 $997K No change
SBXE.U Silverbox Corp. V 0.06% 99,109 $995K New
BLRKU Bluerock Acquisition Corp. 0.06% 99,109 $991K New
TWLVU Twelve Seas Investment Co. II 0.06% 99,100 $986K New
DYOR Insight Digital Partners I-A 0.06% 99,210 $983K New
IGAC Invest Green Acquisitio Class A 0.06% 99,120 $975K New
TVA Texas Ventures Acquisition-A 0.06% 91,194 $971K Reduce -68.7%
SVIIF Spring Valley Acquisition-A 0.05% 69,865 $829K Reduce -72.9%
ONCH 1RT Acquisition Corp. Class A 0.04% 74,416 $759K No change
SPKLF Spark I Acquisition Corp. 0.04% 65,566 $749K New
CEPT Cantor Equity Partners Class A 0.04% 64,017 $721K Reduce -74.2%
HAVA Harvard Ave Acquisition Class A 0.04% 66,960 $665K New
TBMC Trailblazer Merger Corp. I 0.03% 43,243 $576K Reduce -79.0%
LPCVU Launchpad Cadenza Acquisitio 0.03% 49,586 $495K New
CHAC Crane Harbor Acqu Corp. Class A 0.02% 39,688 $427K Reduce -86.7%
NWAX.U New America Acquisition I Co. 0.02% 34,696 $361K New
CCXIU Churchill Capital Corp. Xi 0.01% 18,781 $192K New

Options reported separately and not counted above: NVDA puts ($82.6M), MSFT puts ($73.8M), GOOGL puts ($68.7M), TSLA puts ($59.9M), NFLX puts ($23.3M), AMZN puts ($16.1M), CRM puts ($13.7M).

Other holdings (85): bonds, preferreds, convertibles and warrants · $36.8M (not counted above)
SecurityClassShares / PrincipalValueChange
MARRIOTT VACATION WORLDW (VAC 0 01/15/26) NOTE 1/1 · principal 12,434,000$12.4MNo change
FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal 9,943,000$10.1MNew
SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) NOTE 1.500% 2/1 · principal 9,027,000$9.0MNo change
PROS HOLDINGS INC (PRO 2.25 09/15/27) NOTE 2.250% 9/1 · principal 2,220,000$2.2MNew
EVAC.WS Eqv Ventures Acquisition Cor *W EXP 06/30/203 590,614$207KNo change
GIWWR GIGCAPITAL8 Corp.-RTS RIGHT 09/30/2030 595,140$184KNew
TVACW Texas Ventures Acq -31 *W EXP 04/23/203 119,138$107KNo change
BLUWW Blue Water Acquisition-CW26 *W EXP 05/23/203 193,657$103KReduce -58.5%
GSRFR GSR IV Acquisition Corp.-RTS RIGHT 08/22/2030 42,514$99KReduce -0.1%
KCHVR Kochav Defense Acquisition-R RIGHT 05/21/2030 404,996$97KNo change
FACWW Cartesian Growth Corp. -30 *W EXP 05/02/203 105,350$83KReduce -65.3%
BEAGR Bold Eagle Acquisition Corp. RIGHT 10/11/2029 258,486$83KNo change
CHACR Crane Harbor Acquisition-RTS RIGHT 04/17/2030 101,204$81KReduce -16.4%
GTENW Gores Holdings X Inc.-31 *W EXP 05/02/203 99,180$74KNo change
TVAIR Thayer Ventures Acquisition RIGHT 05/15/2030 354,412$74KNo change
ALISR Calisa Acquisition Corp. RIGHT 09/11/2030 148,785$72KNew
HVIIR Hennessy Capital Investment RIGHT 01/17/2030 248,550$69KNo change
KFIIR K&F Growth Acquisition Corp. RIGHT 08/29/2031 396,920$52KNo change
CHECW Chenghe Acquisition III Co. *W EXP 09/09/203 285,305$51KAdd +9.5%
XRPNW Armada Acquisition Corp - A *W EXP 05/21/203 56,081$50KNo change
OBAWW Oxley Bridge Acq Ltd. -30 *W EXP 06/17/203 212,330$47KNo change
OYSER Oyster Enterprises II Acquis RIGHT 05/22/2030 228,022$46KNo change
COPL.WS Copley Acquisition Corp. -30 *W EXP 99/99/999 265,964$46KNo change
EMISR Emmis Acquisition Corp. RIGHT 09/12/2030 297,048$45KReduce -0.2%
BACCR Blue Acquisition Corp.-RTS RIGHT 06/11/2030 138,755$45KReduce -52.8%
HCMAW HCM III Acquisition Corp. -30 *W EXP 07/23/203 88,433$44KNo change
LATAW Galata Acquisition Corp. - 30 *W EXP 09/12/203 123,987$43KAdd +0.1%
BLZRW Trailblazer Acqui Corp. -30 *W EXP 09/30/203 87,002$42KNo change
UYSCR Uy Scuti Acquisition Corp. RIGHT 03/03/2030 207,793$42KNo change
GFUZW Spring Valley Acq Co. -30 *W EXP 09/04/203 66,133$41KNo change
FERAR Fifth Era Acquisition Corp. I RIGHT 02/21/2030 99,550$40KNo change
AACBR Artius II Acquisition Inc. RIGHT 11/27/2029 124,050$40KNo change
BSAAR Best Spac I Acquisition - RT RIGHT 05/27/2030 262,781$40KNo change
CCAQW Dune Acquisition Corp. II -30 *W EXP 04/04/203 161,463$40KReduce -23.5%
AAM.WS Aa Mission Acquisition -30 *W EXP 08/01/203 216,309$37KNo change
KOYNW CSLM Digital Asset Acquisiti *W EXP 08/28/203 98,903$35KNo change
RTACW Renatus Tactical Acqu - 30 *W EXP 05/15/203 42,169$34KNo change
SPEGR Silver Pegasus Acquisition C RIGHT 06/26/2030 142,535$34KNo change
PCAPW Procap Acq Corp. A -30 *W EXP 05/16/203 90,880$34KNo change
TACHW Titan Acquisition Corp -30 *W EXP 05/16/203 101,894$32KReduce -8.6%
CHPGR Championsgate Acquisition Co. RIGHT 05/14/2030 209,151$31KNo change
NSTR.WS Viking Acquisition Corp. I *W EXP 11/03/203 82,625$31KNew
JENA ACQUISITION CORP II-RTS RIGHT 03/31/2030 194,371$31KNo change
GSHRW Gesher Acquisition Corp. I-30 *W EXP 10/31/203 81,898$29KNo change
BIXIW Bitcoin Infrastructure Acqui *W EXP 11/06/203 101,390$28KNew
YCY.WS Aa Mission Acquisition -31 *W EXP 07/23/203 133,927$27KNew
HVMCW Highview Merger Corp. - 30 *W EXP 07/24/203 99,180$27KNo change
TDWDR Tailwind 2.0 Acquisition-RTS RIGHT 11/07/2030 149,040$24KNew
HDRNW GIGCAPITAL7 Corp.-A - 29 *W EXP 08/29/202 59,246$24KReduce -43.0%
DNMXW Dynamix Corp. III *W EXP 10/10/203 74,393$24KNew
TMSWW Live Oak Acquisition Co.-CW29 *W EXP 99/99/999 23,861$24KNo change
SDHIR Siddhi Acquisition Corp. RIGHT 09/15/2029 124,850$22KNo change
RDAGW Republic Digital Acqu - 30 *W EXP 05/01/203 38,313$22KNo change
LCCCR Lakeshore Acquisition III Co. RIGHT 08/01/2026 101,180$22KNo change
LAFAR Lafayette Acquisition Corp. RIGHT 10/24/2030 148,800$20KNew
MCGAW Yorkville Acquisition - 30 *W EXP 06/06/203 39,676$20KNo change
LWACW Lightwave Acquisition Corp. *W EXP 06/06/203 109,794$20KReduce -1.3%
INACR Indigo Acquisition Corp. RIGHT 04/02/2027 148,815$19KNo change
MMTXW Miluna Acquisition Corp. *W EXP 09/29/203 171,150$19KNew
FCRS.WS Futurecrest Acquisition Corp. *W EXP 09/30/203 24,805$18KNo change
NHICW Newhold Investment Corp. - 30 *W EXP 01/30/203 50,065$18KNo change
HSPTR Horizon Space Acquisition II RIGHT 03/30/2026 106,993$17KNo change
CUBWW Lionheart Holdings - WT *W EXP 06/07/203 98,980$17KNo change
BDCIW BTC Development Corp. - 30 *W EXP 09/11/203 37,204$17KNo change
DYORW Insight Digital Partners II *W EXP 10/28/203 49,605$16KNew
PACHW Pioneer Acquisition I Corp. *W EXP 06/16/203 74,363$16KNo change
SZZLR Sizzle Acquisition Corp. -RTS RIGHT 04/02/2030 99,192$16KNo change
ASPCR A Spac III Acquisition Corp. RIGHT 01/02/2026 81,046$15KNo change
NMPAR NMP Acquisition Corp. RIGHT 06/27/2030 85,484$15KNo change
FACTW Fact II Acquisition Corp. -29 *W EXP 11/26/203 39,523$14KNo change
BCSS.WS Bain Capital GSS Investment *W EXP 01/01/202 20,042$13KNo change
COLAR Columbus Acquisition Corp. RIGHT 99/99/9999 39,874$13KReduce -19.9%
MBVIW M3-Brigade Acquisition Vi Co. *W EXP 08/18/203 31,172$12KReduce -61.4%
VACHW Voyager Acquisition Corp. -CW *W EXP 05/16/203 59,990$11KNo change
ONCHW 1RT Acquisition Corp.-A -31 *W EXP 06/26/203 18,604$11KNo change
APACR Stonebridge Acquisition II C RIGHT 09/09/2030 89,281$11KAdd +38.5%
CRACW Crown Reserve Acquisition Co. *W EXP 10/06/203 116,748$10KNew
QUMSR Quantumsphere Acquisition Co. RIGHT 08/06/2030 35,110$7KNew
CHENGHE ACQUISITION II CO *W EXP 05/30/203 74,685$7KNo change
HAVAR Harvard Ave Acquisition RIGHT 99/99/9999 66,960$7KNew
TACOW Berto Acquisition Corp. - 30 *W EXP 05/01/203 17,860$7KNo change
CRACR Crown Reserve Acquisitio-RTS RIGHT 10/06/2030 34,776$7KNew
RIBBR Ribbon Acquisition Corp. RIGHT 12/31/2026 35,724$6KNo change
TDACW Translational Dev -A -CW26 *W EXP 12/18/202 17,254$5KNo change
CAPNR Cayson Acquisition Corp. RIGHT 99/99/9999 16,197$4KNo change

Total filed on the 13F, all lines: $1.8B.

Portfolio Sells Q3 2025 → Q4 2025
AMZN Amazon.com Inc. Reduce -81.6% 0.92% −4.56
VC Visteon Corp. Sold out 0.00% −3.16
OZK Bank Ozk Sold out 0.00% −2.36
NTR Nutrien Ltd. Sold out 0.00% −1.69
NETD Nabors Energy Transition C-A Sold out 0.00% −1.00
GOOG Alphabet Inc. Class C Sold out 0.00% −0.96
ANSC Agriculture & Natural Soluti Reduce -22.3% 1.61% −0.72
RFAI RF Acquisition Corp. II Reduce -68.2% 0.18% −0.48
VCIC Vine Hill Capital Class A Reduce -79.2% 0.10% −0.46
ASPC A Spac III Acquisition Class A Sold out 0.00% −0.42
DTSQ DT Cloud Star Acquisition Co. Reduce -80.3% 0.08% −0.38
AFJK Aimei Health Technology Co. Sold out 0.00% −0.34
DMIIU Drugs Made in America Acquis Sold out 0.00% −0.33
MRLN Merlin Inc. Reduce -37.4% 0.39% −0.31
IBAC Ib Acquisition Corp. Sold out 0.00% −0.28
YHNA YHN Acquisition I Ltd. Reduce -50.1% 0.20% −0.26
GSRT GSR III Acquisition Corp. Sold out 0.00% −0.23
BRR Columbus Circle Capital Co. Class A Sold out 0.00% −0.21
INFQ Infleqtion Inc. Sold out 0.00% −0.20
FAC Factorial Energy Inc. Reduce -38.7% 0.23% −0.19
ALPHAVEST ACQUISITION CORP Sold out 0.00% −0.18
BLUW Blue Water Acquisition C-A Reduce -21.3% 0.43% −0.18
CHAC Crane Harbor Acqu Corp. Class A Reduce -86.7% 0.02% −0.17
BACC Blue Acquisition Corp. Class A Reduce -42.0% 0.18% −0.17
IMSR Terrestrial Energy Inc. Sold out 0.00% −0.17
HSPOF Horizon Space Acquisition I Sold out 0.00% −0.17
SVIIF Spring Valley Acquisition-A Reduce -72.9% 0.05% −0.17
ONEN One Nuclear Energy Inc. Reduce -26.0% 0.28% −0.15
TVA Texas Ventures Acquisition-A Reduce -68.7% 0.06% −0.15
HDRN Hadron Energy Inc. Reduce -27.1% 0.26% −0.15
ALPHATIME ACQUISITION CORP Sold out 0.00% −0.14
OAKU Oak Woods Acquisition Corp. Class A Reduce -49.7% 0.10% −0.13
CEPT Cantor Equity Partners Class A Reduce -74.2% 0.04% −0.13
TBMC Trailblazer Merger Corp. I Reduce -79.0% 0.03% −0.13
BAYA Bayview Acquisition Corp. Class A Reduce -50.0% 0.10% −0.12
BEAG Bold Eagle Acquisition Cor-A Reduce -8.0% 0.31% −0.07
HSPT Horizon Space Acquisition II Reduce -0.0% 0.43% −0.06
WLAC Willow Lane Acquisition Class A Sold out 0.00% −0.05
NOEM CO2 Energy Transition Corp. Sold out 0.00% −0.04
EMCGF Embrace Change Acquisition C Sold out 0.00% −0.03
RTAC Renatus Tactical Acquisiti-A Reduce -8.9% 0.09% −0.03
EMIS Emmis Acquisition Corp. Class A Reduce -0.2% 0.17% −0.03
FRNM Freenome Inc. Sold out 0.00% −0.01

Portfolio Buys Q3 2025 → Q4 2025
GOOGL Alphabet Inc. Class A Add +219300.0% 3.92% +3.92
NVDA Nvidia Corp. Add +345.3% 4.72% +3.50
MSFT Microsoft Corp. Add +206.4% 4.22% +2.51
PGR Progressive Corp. New 1.40% +1.40
NFLX Netflix Inc. New 1.33% +1.33
FTW Eqv Ventures Acquisition C-A Add +258.4% 1.54% +1.05
CRM Salesforce Inc. New 0.79% +0.79
GIW GIGCAPITAL8 Corp. Class A New 0.73% +0.73
SBXDF Silverbox Corp. IV-A Add +607.8% 0.73% +0.61
PAA Plains All Amer Pipeline LP Add +39.3% 2.75% +0.59
CCIX Churchill Capital Corp. Ix Add +2241.9% 0.57% +0.54
CAEP Cantor Equity Partners III-A Add +747.5% 0.61% +0.53
TACO Berto Acquisition Corp. Add +932.8% 0.59% +0.53
TSLA Tesla Inc. Add +34.1% 3.42% +0.51
CEPV Cantor Equity Partners Class A New 0.46% +0.46
CEPO Cantor Equity Partners I-A Add +467.6% 0.58% +0.46
IPCX Inflection Point Acquisiti-A Add +198.4% 0.69% +0.42
GPACU General Purpose Acquisition New 0.30% +0.30
VLOS Velos Acquisition I Corp. Add +121.8% 0.60% +0.29
VACH Voyager Acquisition Corp. Add +46.1% 1.10% +0.24
SCIIU SC II Acquisition Corp. New 0.24% +0.24
LPAA Launch One Acquisition Corp. Add +56.0% 0.86% +0.23
YCY Aa Mission Acquisition-A New 0.19% +0.19
RNGT Range Capital Acquisit Class A New 0.17% +0.17
MCGA Yorkville Acquisition Corp. Class A Add +378.1% 0.22% +0.17
CRANU Crane Harbor Acquisition Cor New 0.14% +0.14
MESHU Meshflow Acquisition Corp. New 0.14% +0.14
AEAQU Activate Energy Acquisition New 0.14% +0.14
IRHOU Iron Horse Acquisition II Co. New 0.14% +0.14
NSTR Northstar Earth & Space Ente New 0.14% +0.14
TMS Teamshares Inc. Add +203.6% 0.22% +0.14
CRAC Crown Reserve Acquisiti Class A New 0.13% +0.13
EPD Enterprise Products Partners Add +13.8% 12.50% +0.12
AIIA AI Infrastructure Ac-A New 0.11% +0.11
SAC.U Safeguard Acquisition Corp. New 0.11% +0.11
BIXI Bitcoin Infrastructure Class A New 0.11% +0.11
DSACU Daedalus Special Acquisition New 0.11% +0.11
VHCPU Vine Hill Capital Investment New 0.11% +0.11
ITHAU Ithax Acquisition Corp. III New 0.11% +0.11
BEBE.U Tge Value Creative Solutions New 0.11% +0.11
MMTX Miluna Acquisition Class A New 0.10% +0.10
XRPN Armada Acquisition Class A Add +62.2% 0.32% +0.09
HCACU Hall Chadwick Acquisition Co. New 0.09% +0.09
LFACU Leapfrog Acquisition Corp. New 0.09% +0.09
ALIS Calisa Acquisition Corp. New 0.08% +0.08
LAFA Lafayette Acquisition Corp. New 0.08% +0.08
DNMX Dynamix Corp. III Class A New 0.08% +0.08
EVOX Evolution Global Acquis Class A New 0.08% +0.08
TDWD Tailwind 2.0 Acquisitio Class A New 0.08% +0.08
WENN Wen Acquisition Corp. Class A Add +162.2% 0.15% +0.08

Options Activity Q3 2025 → Q4 2025
NVDA Nvidia Corp. put Add +345.3% 443,100 $82.6M
MSFT Microsoft Corp. put Add +206.4% 152,600 $73.8M
GOOGL Alphabet Inc. Class A put Add +219300.0% 219,400 $68.7M
TSLA Tesla Inc. put Add +34.1% 133,300 $59.9M
NFLX Netflix Inc. put New 249,000 $23.3M
AMZN Amazon.com Inc. put Reduce -81.6% 69,600 $16.1M
GOOG Alphabet Inc. Class C put Sold out 59,800 $14.5Mbefore exit
CRM Salesforce Inc. put New 51,900 $13.7M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2025 → Q4 2025
FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal New 9,943,000 $10.1M
GOPRO INC (GPRO 1.25 11/15/25) NOTE 1.250%11/1 · principal Sold out 4,973,000 $5.0Mbefore exit
REDFIN CORP (RDFN 0 10/15/25) NOTE 10/1 · principal Sold out 4,974,000 $4.9Mbefore exit
PROS HOLDINGS INC (PRO 2.25 09/15/27) NOTE 2.250% 9/1 · principal New 2,220,000 $2.2M
GIWWR GIGCAPITAL8 Corp.-RTS RIGHT 09/30/2030 New 595,140 $184K
BLUWW Blue Water Acquisition-CW26 *W EXP 05/23/203 Reduce -58.5% 193,657 $103K
GSRFR GSR IV Acquisition Corp.-RTS RIGHT 08/22/2030 Reduce -0.1% 42,514 $99K
FACWW Cartesian Growth Corp. -30 *W EXP 05/02/203 Reduce -65.3% 105,350 $83K
CHACR Crane Harbor Acquisition-RTS RIGHT 04/17/2030 Reduce -16.4% 101,204 $81K
ALISR Calisa Acquisition Corp. RIGHT 09/11/2030 New 148,785 $72K
CHECW Chenghe Acquisition III Co. *W EXP 09/09/203 Add +9.5% 285,305 $51K
EMISR Emmis Acquisition Corp. RIGHT 09/12/2030 Reduce -0.2% 297,048 $45K
BACCR Blue Acquisition Corp.-RTS RIGHT 06/11/2030 Reduce -52.8% 138,755 $45K
LATAW Galata Acquisition Corp. - 30 *W EXP 09/12/203 Add +0.1% 123,987 $43K
CCAQW Dune Acquisition Corp. II -30 *W EXP 04/04/203 Reduce -23.5% 161,463 $40K
TACHW Titan Acquisition Corp -30 *W EXP 05/16/203 Reduce -8.6% 101,894 $32K
NSTR.WS Viking Acquisition Corp. I *W EXP 11/03/203 New 82,625 $31K
BIXIW Bitcoin Infrastructure Acqui *W EXP 11/06/203 New 101,390 $28K
YCY.WS Aa Mission Acquisition -31 *W EXP 07/23/203 New 133,927 $27K
TDWDR Tailwind 2.0 Acquisition-RTS RIGHT 11/07/2030 New 149,040 $24K
HDRNW GIGCAPITAL7 Corp.-A - 29 *W EXP 08/29/202 Reduce -43.0% 59,246 $24K
DNMXW Dynamix Corp. III *W EXP 10/10/203 New 74,393 $24K
LAFAR Lafayette Acquisition Corp. RIGHT 10/24/2030 New 148,800 $20K
LWACW Lightwave Acquisition Corp. *W EXP 06/06/203 Reduce -1.3% 109,794 $20K
MMTXW Miluna Acquisition Corp. *W EXP 09/29/203 New 171,150 $19K
DYORW Insight Digital Partners II *W EXP 10/28/203 New 49,605 $16K
COLAR Columbus Acquisition Corp. RIGHT 99/99/9999 Reduce -19.9% 39,874 $13K
MBVIW M3-Brigade Acquisition Vi Co. *W EXP 08/18/203 Reduce -61.4% 31,172 $12K
APACR Stonebridge Acquisition II C RIGHT 09/09/2030 Add +38.5% 89,281 $11K
CRACW Crown Reserve Acquisition Co. *W EXP 10/06/203 New 116,748 $10K
QUMSR Quantumsphere Acquisition Co. RIGHT 08/06/2030 New 35,110 $7K
HAVAR Harvard Ave Acquisition RIGHT 99/99/9999 New 66,960 $7K
CRACR Crown Reserve Acquisitio-RTS RIGHT 10/06/2030 New 34,776 $7K
EMCWF Embrace Change Acquisitio-26 *W EXP 10/25/202 Sold out 37,000 $422before exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 266$2.0BEPD, ET, KMI, PAA, ON
Q1 2026 238$1.9BEPD, ET, KMI, PAA, WES
Q4 2025 193$1.8BEPD, ET, NVDA, KMI, MSFT
Q3 2025 169$1.5BEPD, ET, AMZN, KMI, VC
Q2 2025 165$1.6BKMI, EPD, ET, AMZN, CRM
Q1 2025 126$1.4BKMI, EPD, ET, TSLA, NVDA
Q4 2024 125$1.8BKMI, EPD, ET, AMZN, AAPL
Q3 2024 134$1.4BKMI, EPD, ET, NVDA, AMD
Q2 2024 140$1.8BKMI, EPD, AAPL, ET, GOOGL
Q1 2024 145$1.6BEPD, KMI, ET, INTC, ORI