DSC Meridian Capital LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), DSC Meridian Capital LP reported 9 stock positions worth $200.0 million. Its top holding was Invesco Senior Loan ETF (BKLN) at 21.9% of the portfolio, followed by Core Scientific (CORZ, 20.5%) and Vistra (VST, 13.2%). Compared with Q2 2025, it opened 3 new positions, sold out of 4, added to 3 and reduced 1. The biggest buy was a new position in Teck Resources Ltd.-CLS B (TECK) and the biggest sale iShares Broad Usd High Yield (USHY, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001970572
- Portfolio Value
- $200.0M (Q3 2025)
- SEC Filing
- 0001970572-25-000009 ↗ filed Nov 14, 2025
Holdings Value
Holdings 9 stocks · $200.0M
| BKLN Invesco Senior Loan ETF | 21.92% | 2,094,279 | $43.8M | Add +85.1% |
| CORZ Core Scientific Inc. | 20.46% | 2,280,252 | $40.9M | Add +150.6% |
| VST Vistra Corp. | 13.16% | 134,349 | $26.3M | No change |
| COOP Mr Cooper Group Inc. | 11.47% | 108,853 | $22.9M | Add +988.5% |
| TECK Teck Resources Ltd.-CLS B | 11.43% | 520,740 | $22.9M | New |
| USHY iShares Broad Usd High Yield | 8.80% | 465,711 | $17.6M | Reduce -54.0% |
| TLN Talen Energy Corp. | 5.46% | 25,673 | $10.9M | No change |
| ELME Elme Communities | 4.58% | 543,081 | $9.2M | New |
| GTN Gray Media Inc. | 2.72% | 939,714 | $5.4M | New |
Options reported separately and not counted above: SPY puts ($264.5M), DAR calls ($3.1M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $25.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 16,000,000 | $21.8M | Add +33.3% |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 4,727,000 | $3.6M | New |
Total filed on the 13F, all lines: $225.4M.
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 397,000 | $264.5M |
| RUN Sunrun Inc. | call | Sold out | 200,000 | $1.6Mbefore 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 2025 → Q3 2025
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | Add +33.3% | 16,000,000 | $21.8M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | Sold out | 1,203,516 | $13.0Mbefore exit |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Sold out | 9,500,000 | $12.9Mbefore exit |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | New | 4,727,000 | $3.6M |
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 | 11 | $303.9M | AERO, AZUL, CORZ, USHY, BKLN |
| Q1 2026 | 9 | $188.9M | USHY, AERO, CORZ, HYG, VST |
| Q4 2025 | 9 | $203.9M | AERO, CORZ, USHY, BKLN, VST |
| Q3 2025 | 9 | $200.0M | BKLN, CORZ, VST, COOP, TECK |
| Q2 2025 | 10 | $148.1M | USHY, VST, BKLN, K, CORZ |
| Q1 2025 | 6 | $101.1M | USHY, BKLN, VST, HYG, TLN |
| Q4 2024 | 11 | $124.8M | BKLN, VCLT, USHY, VST, HCP |
| Q3 2024 | 13 | $111.1M | USHY, VCLT, TLT, BKLN, VST |
| Q2 2024 | 11 | $121.7M | USHY, TLT, VCLT, BKLN, TECK |
| Q1 2024Amended | 5 | $80.6M | TLT, VCLT, BKLN, TECK, SLCA |