Compass Rose Asset Management, LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Compass Rose Asset Management, LP reported 9 stock positions worth $107.9 million . Its top holding was Paramount Global Class B (PARAA) at 35.9% of the portfolio, followed by Unitedhealth (UNH, 24.0% ) and Intel (INTC, 10.8% ). Compared with Q1 2025, it opened 3 new positions, sold out of 9, added to 2 and reduced 2. The biggest buy was a new position in Unitedhealth (UNH) and the biggest sale an exit from Barrick Gold (B).
Location New York, NY
CIK 0001758811
Portfolio Value $107.9M (Q2 2025) Holdings 9 stocks · $107.9M 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 Q1 2025 PARAA Paramount Global Class B 3,000,000 $38.7M No change UNH Unitedhealth Group Inc. 83,000 $25.9M New INTC Intel Corp. 520,000 $11.6M Add +52.9% VALE Vale SA-SP ADR 1,105,000 $10.7M Reduce -73.0% BLCO Bausch + Lomb Corp. 820,000 $10.7M No change OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 2,600,000 $5.6M Add +108.0% BHC Bausch Health Cos Inc. 500,000 $3.3M Reduce -16.7% NXE Nexgen Energy Ltd. 100,000 $694K New WVE Wave Life Sciences Ltd. 100,000 $650K New
Options reported separately and not counted above: QQQ puts ($55.2M), ISHARES TR puts ($54.8M), ISHARES TR puts ($40.3M), MSTR puts ($31.3M), KRANESHARES TRUST calls ($27.5M), PARAA puts ($19.8M).
Other holdings (5): bonds, preferreds, convertibles and warrants · $163.4M (not counted above) Security Class Shares / Principal Value Change JD.COM INC (JD 0.25 06/01/29) NOTE 0.250% 6/0 · principal 60,000,000 $62.7M New ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 30,000,000 $38.3M New AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 25,000,000 $25.2M No change PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal 25,000,000 $24.9M Reduce -44.4% FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal 12,500,000 $12.3M No change
Total filed on the 13F, all lines: $271.3M.
Portfolio Sells Q1 2025 → Q2 2025 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ B Barrick Gold Corp. Sold out 0.00% −14.74 IWM iShares Russell 2000 ETF Sold out 0.00% −12.60 VALE Vale SA-SP ADR Reduce -73.0% 9.95% −10.74 EQX Equinox Gold Corp. Sold out 0.00% −5.22 JNPR Juniper Networks Inc. Sold out 0.00% −5.12 MCY Mercury General Corp. Sold out 0.00% −3.53 NBIS Nebius Group NV Sold out 0.00% −2.13 VG Venture Global Inc. Class A Sold out 0.00% −2.08 IHS Ihs Holding Ltd. Sold out 0.00% −1.98 SANA Sana Biotechnology Inc. Sold out 0.00% −0.21 BHC Bausch Health Cos Inc. Reduce -16.7% 3.09% +1.12
Portfolio Buys Q1 2025 → Q2 2025 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ UNH Unitedhealth Group Inc. New 24.00% +24.00 INTC Intel Corp. Add +52.9% 10.80% +6.89 OPTU Optimum Communications Inc. Class A Add +108.0% 5.16% +3.48 NXE Nexgen Energy Ltd. New 0.64% +0.64 WVE Wave Life Sciences Ltd. New 0.60% +0.60
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put New 100,000 $55.2M ISHARES TR put New 500,000 $54.8M ISHARES TR put New 500,000 $40.3M MSTR Strategy Inc. put New 77,500 $31.3M KRANESHARES TRUST call New 800,000 $27.5M WBD Warner Bros Discovery Inc. call Sold out 2,000,000 $21.5Mbefore exit PARAA Paramount Global Class B put New 1,531,100 $19.8M QQQ Invesco QQQ Trust Series 1 call Sold out 32,500 $15.2Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025 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 14 $173.2M WBD, KWEB, CMCSA, MSTR, CHTR Q1 2026 11 $115.8M KWEB, RKT, NVT, KMB, SUZ Q4 2025 13 $156.7M KVUE, KMB, KWEB, CMCSA, BLCO Q3 2025 11 $104.3M KHC, KRE, BLCO, WBD, RDN Q2 2025 9 $107.9M PARAA, UNH, INTC, VALE, BLCO Q1 2025 15 $197.8M VALE, PARAA, B, IWM, BLCO Q4 2024 13 $204.2M BKLN, VALE, EWZ, EWW, BHC Q3 2024 9 $85.9M PARAA, ACI, WBD, INTC, BHC Q2 2024 5 $44.7M WBD, PARAA, IHS, VISN, OPTU Q1 2024 4 $83.3M WBD, FXI, BABA, PARAA