BlueCrest Capital Management Ltd In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), BlueCrest Capital Management Ltd reported 33 stock positions worth $200.4 million . Its top holding was Criteo SA-Spon (CRTO) at 45.4% of the portfolio, followed by Ishr Ibx Usd Invgd CB ETF-Ui (LQD, 14.1% ) and Rithm Capital (RITM, 12.1% ). Compared with Q2 2024, it opened 17 new positions, sold out of 34, added to 4 and reduced 4. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +400% ) and the biggest sale an exit from Vaneck Junior Gold Miners (GDXJ).
Location ST HELIER, Y9
CIK 0001610880
Portfolio Value $200.4M (Q3 2024) Holdings 33 stocks · $200.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 CRTO Criteo SA-Spon 2,260,000 $90.9M No change LQD Ishr Ibx Usd Invgd CB ETF-Ui 250,000 $28.2M Add +400.0% RITM Rithm Capital Corp. 2,134,661 $24.2M No change KWEB Kranesh Csi China Internet 416,000 $14.2M No change MDY State Street SPDR S&P Midcap 12,500 $7.1M New HYG Ishr Ibx Usd Hiyld CB ETF-Ui 65,801 $5.3M Reduce -83.0% EMB iShares JP Morgan Usd Emergi 50,000 $4.7M New XLF SS Financial Select Sector 88,000 $4.0M No change VRNS Varonis Systems Inc. 50,700 $2.9M New IBIT iShares Bitcoin Trust ETF 77,000 $2.8M New MFA Mfa Financial Inc. 167,160 $2.1M No change CME Cme Group Inc. 9,000 $2.0M New RDDT Reddit Inc. Class A 30,000 $2.0M No change ON On Semiconductor 17,700 $1.3M Add +172.3% EDN Emp Distrib Y Comerc Nor-ADR filed as EMPRESA DIST Y COMERCIAL NOR 50,000 $1.1M Add +66.7% GOOGL Alphabet Inc. Class A 6,000 $995K Add +300.0% RBRK Rubrik Inc. Class A 25,000 $804K No change CLMT Calumet Inc. 40,000 $713K New BRNS Barinthus Biotherapeutics PL 542,673 $646K No change VRSN Verisign Inc. 3,000 $570K New SO The Southern Co. 6,109 $551K New BKH Black Hills Corp. 6,458 $395K New PCG P G & E Corp. 17,849 $353K New NEE Nextera Energy Inc. 4,147 $351K New POR Portland General Electric Co. 6,348 $304K New DIS The Walt Disney Co. filed as DISNEY WALT CO 3,000 $289K Reduce -2.9% LHX L3HARRIS Technologies Inc. 1,200 $285K New NFG National Fuel Gas Co. 4,273 $259K New MSFT Microsoft Corp. 600 $258K Reduce -99.1% KHC The Kraft Heinz Co. 7,000 $246K New ATHM Autohome Inc.-ADR 7,000 $228K New ETSY Etsy Inc. 4,000 $222K New WBD Warner Bros Discovery Inc. 20,000 $165K Reduce -60.0%
Options reported separately and not counted above: GLD calls ($431.4M), GLD puts ($401.0M), QQQ calls ($261.1M), HYG puts ($80.3M), XLE calls ($65.8M), QQQ puts ($61.0M), IWM puts ($32.0M), SPY puts ($16.4M), MSFT calls ($10.6M), XLE puts ($10.5M), EMB puts ($9.4M), EEM calls ($9.2M), and 16 more.
Other holdings (24): bonds, preferreds, convertibles and warrants · $236.3M (not counted above) Security Class Shares / Principal Value Change INSIGHT ENTERPRS (NSIT 0.75 02/15/25) NOTE 0.750% 2/1 · principal 15,069,000 $47.5M No change NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 559,824 $31.0M Reduce -7.5% INTERDIGITAL INC (IDCC 3.5 06/01/27) NOTE 3.500% 6/0 · principal 12,650,000 $23.5M Add +289.2% HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 338,692 $20.5M New ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal 14,922,000 $15.6M No change BROGW Brooge Holdings Ltd. *W EXP 12/20/202 11,149,777 $15.5M No change INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) NOTE 2.125% 2/1 · principal 7,666,000 $12.1M Add +24.3% ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 219,339 $9.9M Add +199.4% AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 8,500,000 $8.8M New COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) NOTE 2.875% 2/1 · principal 6,500,000 $8.2M Add +18.2% AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal 7,500,000 $7.6M New EXPEDIA GROUP INC (EXPE 0 02/15/26) NOTE 2/1 · principal 6,505,000 $6.2M Add +62.4% APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV 79,790 $5.4M Reduce -40.5% SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) NOTE 0.250%12/0 · principal 6,000,000 $4.5M Add +50.0% CENTURY ALUMINUM COMPANY (CENX 2.75 05/01/28) NOTE 2.750% 5/0 · principal 3,187,000 $3.6M No change DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 3,700,000 $3.3M New PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) NOTE 1.750%12/1 · principal 3,462,000 $3.2M Reduce -68.8% BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) UNIT 02/01/2027 56,244 $3.1M Add +710.2% AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) NOTE 3.875% 8/1 · principal 2,588,000 $2.4M New ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal 2,000,000 $2.0M No change CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) 6.75DP CNV PFD B 14,469 $727K Reduce -80.3% NIO INC (NIO 4.625 10/15/30) NOTE 4.625%10/1 · principal 800,000 $706K New INNOVATE CORP (VATE 7.5 08/01/26 *) NOTE 7.500% 8/0 · principal 1,383,000 $469K No change SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) NOTE 2.625% 2/1 · principal 500,000 $324K Reduce -80.0%
Total filed on the 13F, all lines: $436.7M.
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ GDXJ Vaneck Junior Gold Miners Sold out 0.00% −18.38 MSFT Microsoft Corp. Reduce -99.1% 0.13% −8.31 GLD SPDR Gold Shares Sold out 0.00% −7.83 HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -83.0% 2.64% −5.75 AGG iShares Core U.S. Aggregate Sold out 0.00% −4.17 URA Global X Uranium ETF Sold out 0.00% −1.50 NEM Newmont Corp. Sold out 0.00% −1.33 B Barrick Gold Corp. Sold out 0.00% −1.30 AEM Agnico Eagle Mines Ltd. Sold out 0.00% −1.28 XLE SS Energy Select Sector Sold out 0.00% −1.14 AU Anglogold Ashanti PLC Sold out 0.00% −0.83 KGC Kinross Gold Corp. Sold out 0.00% −0.83 EWZ iShares MSCI Brazil ETF Sold out 0.00% −0.82 AGI Alamos Gold Inc. Class A Sold out 0.00% −0.74 PAAS Pan American Silver Corp. Sold out 0.00% −0.72 XLU St Sr Utl SL SE SPDR ETF-Usd Sold out 0.00% −0.57 GFI Gold Fields Ltd.-Spons ADR Sold out 0.00% −0.50 EQX Equinox Gold Corp. Sold out 0.00% −0.40 SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.30 CDE Coeur Mining Inc. Sold out 0.00% −0.26 BTG B2GOLD Corp. Sold out 0.00% −0.26 IAG Iamgold Corp. Sold out 0.00% −0.25 HL Hecla Mining Co. Sold out 0.00% −0.22 TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.19 ASHR Xtrackers Harvest Csi 300 CH Sold out 0.00% −0.17 CGAU Centerra Gold Inc. Sold out 0.00% −0.15 ADBE Adobe Inc. Sold out 0.00% −0.13 INTC Intel Corp. Sold out 0.00% −0.13 TSLA Tesla Inc. Sold out 0.00% −0.10 FALN iShares Fallen Angels ETF Sold out 0.00% −0.10 EGO Eldorado Gold Corp. Sold out 0.00% −0.10 GDX Vaneck Gold Miners ETF Sold out 0.00% −0.10 AMT American Tower Corp. Sold out 0.00% −0.09 NKE Nike Inc. Class B Sold out 0.00% −0.07 SBUX Starbucks Corp. Sold out 0.00% −0.07 IWM iShares Russell 2000 ETF Sold out 0.00% −0.06 WBD Warner Bros Discovery Inc. Reduce -60.0% 0.08% −0.02 DIS The Walt Disney Co. Reduce -2.9% 0.14% +0.06
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +400.0% 14.09% +12.59 MDY State Street SPDR S&P Midcap New 3.55% +3.55 EMB iShares JP Morgan Usd Emergi New 2.33% +2.33 VRNS Varonis Systems Inc. New 1.43% +1.43 IBIT iShares Bitcoin Trust ETF New 1.39% +1.39 CME Cme Group Inc. New 0.99% +0.99 ON On Semiconductor Add +172.3% 0.64% +0.52 GOOGL Alphabet Inc. Class A Add +300.0% 0.50% +0.42 EDN Emp Distrib Y Comerc Nor-ADR Add +66.7% 0.55% +0.42 CLMT Calumet Inc. New 0.36% +0.36 VRSN Verisign Inc. New 0.28% +0.28 SO The Southern Co. New 0.27% +0.27 BKH Black Hills Corp. New 0.20% +0.20 PCG P G & E Corp. New 0.18% +0.18 NEE Nextera Energy Inc. New 0.17% +0.17 POR Portland General Electric Co. New 0.15% +0.15 LHX L3HARRIS Technologies Inc. New 0.14% +0.14 NFG National Fuel Gas Co. New 0.13% +0.13 KHC The Kraft Heinz Co. New 0.12% +0.12 ATHM Autohome Inc.-ADR New 0.11% +0.11 ETSY Etsy Inc. New 0.11% +0.11
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ GLD SPDR Gold Shares call Reduce -9.0% 1,775,000 $431.4M GLD SPDR Gold Shares put Add +13.8% 1,650,000 $401.0M QQQ Invesco QQQ Trust Series 1 call Add +27.4% 535,000 $261.1M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +519.2% 1,000,000 $80.3M GDXJ Vaneck Junior Gold Miners call Sold out 1,900,000 $80.0Mbefore exit XLE SS Energy Select Sector call Add +13.6% 750,000 $65.8M QQQ Invesco QQQ Trust Series 1 put New 125,000 $61.0M KRE SS SPDR S&P Regional Bank put Sold out 850,000 $41.7Mbefore exit IWM iShares Russell 2000 ETF put Add +7.4% 145,000 $32.0M SPY SS SPDR S&P 500 ETF Trust-US put Reduce -45.7% 28,500 $16.4M EZA iShares MSCI South Africa Et call Sold out 300,000 $13.0Mbefore exit XLE SS Energy Select Sector put Reduce -20.0% 120,000 $10.5M EMB iShares JP Morgan Usd Emergi put Reduce -75.2% 100,000 $9.4M EEM iShares MSCI Emerging Market call New 200,000 $9.2M GDXJ Vaneck Junior Gold Miners put Sold out 200,000 $8.4Mbefore exit SMH Vaneck Semiconductor ETF put Sold out 32,000 $8.3Mbefore exit CME Cme Group Inc. put New 30,000 $6.6M FXI iShares China Large-Cap ETF call Reduce -84.0% 200,000 $6.4M LQD Ishr Ibx Usd Invgd CB ETF-Ui put Sold out 50,000 $5.4Mbefore exit XLF SS Financial Select Sector call New 100,000 $4.5M EWZ iShares MSCI Brazil ETF call Reduce -79.3% 150,000 $4.4M FXI iShares China Large-Cap ETF put New 130,000 $4.1M HYG Ishr Ibx Usd Hiyld CB ETF-Ui call Sold out 50,000 $3.9Mbefore exit INDA iShares MSCI India ETF put Reduce -83.3% 50,000 $2.9M NVDA Nvidia Corp. put Sold out 11,000 $1.4Mbefore exit TCOM Trip.com Group Ltd.-ADR put New 20,000 $1.2M LIT Global X Lithium & Battery T put Sold out 30,000 $1.2Mbefore exit DXJ Wisdomtree Japan Hedged Eq put Sold out 10,000 $1.1Mbefore exit CPRI Capri Holdings Ltd. call New 24,700 $1.0M MU Micron Technology Inc. put New 10,000 $1.0M TSLA Tesla Inc. put Sold out 4,500 $890Kbefore exit AMT American Tower Corp. put Sold out 2,700 $525Kbefore exit ADBE Adobe Inc. put Sold out 900 $500Kbefore exit INTC Intel Corp. put Reduce -63.3% 20,000 $469K ACI Albertsons Cos Inc. Class A call New 25,000 $462K IWM iShares Russell 2000 ETF call Sold out 2,100 $426Kbefore exit HPE Hewlett Packard Enterprise call New 20,000 $409K DIS The Walt Disney Co. put Sold out 3,000 $298Kbefore exit NKE Nike Inc. Class B put Sold out 3,600 $271Kbefore exit SBUX Starbucks Corp. put Sold out 3,200 $249Kbefore exit NOVAQ Sunnova Energy International put Sold out 20,000 $112Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 Reduce -7.5% 559,824 $31.0M INTERDIGITAL INC (IDCC 3.5 06/01/27) NOTE 3.500% 6/0 · principal Add +289.2% 12,650,000 $23.5M HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV New 338,692 $20.5M BREAD FINANCIAL HLDGS (BFH 4.25 06/15/28) NOTE 4.250% 6/1 · principal Sold out 15,000,000 $20.0Mbefore exit WAYFAIR INC (W 3.5 11/15/28) NOTE 3.500%11/1 · principal Sold out 9,300,000 $12.9Mbefore exit INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) NOTE 2.125% 2/1 · principal Add +24.3% 7,666,000 $12.1M ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Add +199.4% 219,339 $9.9M JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) CONVERTIBLE BOND · principal Sold out 10,565,000 $9.3Mbefore exit AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal New 8,500,000 $8.8M STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) NOTE 6.750% 7/1 · principal Sold out 8,321,000 $8.6Mbefore exit COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) NOTE 2.875% 2/1 · principal Add +18.2% 6,500,000 $8.2M AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) NOTE 1.125% 2/1 · principal New 7,500,000 $7.6M CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) NOTE 4.500% 8/1 · principal Sold out 4,000,000 $6.3Mbefore exit EXPEDIA GROUP INC (EXPE 0 02/15/26) NOTE 2/1 · principal Add +62.4% 6,505,000 $6.2M APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV Reduce -40.5% 79,790 $5.4M PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) NOTE 1.750%12/0 · principal Sold out 4,139,000 $5.0Mbefore exit SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) NOTE 0.250%12/0 · principal Add +50.0% 6,000,000 $4.5M DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal New 3,700,000 $3.3M PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) NOTE 1.750%12/1 · principal Reduce -68.8% 3,462,000 $3.2M BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) UNIT 02/01/2027 Add +710.2% 56,244 $3.1M AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) NOTE 3.875% 8/1 · principal New 2,588,000 $2.4M SHOPIFY INC (SHOPCN 0.125 11/01/25) NOTE 0.125%11/0 · principal Sold out 2,596,000 $2.4Mbefore exit VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26) NOTE 1.625% 3/1 · principal Sold out 2,000,000 $1.9Mbefore exit CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) 6.75DP CNV PFD B Reduce -80.3% 14,469 $727K NIO INC (NIO 4.625 10/15/30) NOTE 4.625%10/1 · principal New 800,000 $706K SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) NOTE 2.625% 2/1 · principal Reduce -80.0% 500,000 $324K VWEWQ Vintage Wine Estates -CW27 *W EXP 06/08/202 Sold out 4,509,552 $45Kbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 213 $2.1B RSP, SPCX, SPYM, SMH, AMZN Q1 2026 152 $728.7M WIX, CRTO, BAC, PFSI, C Q4 2025 114 $2.4B IVV, VST, WFC, C, BAC Q3 2025 Amended 95 $1.4B OEF, NVDA, PCG, KWEB, MSFT Q2 2025 55 $714.2M IBIT, HYG, NVDA, CRTO, UNH Q1 2025 31 $491.6M ASHR, CRTO, SPY, TSM, GLD Q4 2024 40 $1.6B IVV, ASHR, XBI, CRTO, IBIT Q3 2024 33 $200.4M CRTO, LQD, RITM, KWEB, MDY Q2 2024 50 $356.9M CRTO, GDXJ, MSFT, HYG, GLD Q1 2024 60 $199.1M CRTO, RITM, EMB, SPY, XLF