DSC Meridian Capital LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), DSC Meridian Capital LP reported 9 stock positions worth $188.9 million. Its top holding was iShares Broad Usd High Yield (USHY) at 21.2% of the portfolio, followed by Grupo Aeromexico Sab DE CV (AERO, 21.2%) and Core Scientific (CORZ, 18.1%). Compared with Q4 2025, it opened 2 new positions, sold out of 2, added to 2 and reduced 1. The biggest buy was a new position in Ishr Ibx Usd Hiyld CB ETF-Ui (HYG) and the biggest sale an exit from Invesco Senior Loan ETF (BKLN).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001970572
- Portfolio Value
- $188.9M (Q1 2026)
- SEC Filing
- 0001970572-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 9 stocks · $188.9M
| USHY iShares Broad Usd High Yield | 21.16% | 1,084,952 | $40.0M | Add +27.4% |
| AERO Grupo Aeromexico Sab DE CV | 21.15% | 2,851,895 | $40.0M | Add +12.0% |
| CORZ Core Scientific Inc. | 18.06% | 2,280,252 | $34.1M | No change |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 16.95% | 402,329 | $32.0M | New |
| VST Vistra Corp. | 7.91% | 99,349 | $14.9M | No change |
| TECK Teck Resources Ltd.-CLS B | 5.41% | 197,440 | $10.2M | Reduce -33.6% |
| RKT Rocket Cos Inc. Class A | 4.97% | 659,400 | $9.4M | No change |
| EA Electronic Arts Inc. | 2.23% | 20,700 | $4.2M | New |
| GTN Gray Media Inc. | 2.16% | 939,714 | $4.1M | No change |
Options reported separately and not counted above: SPY puts ($29.3M), IWM puts ($25.4M), CORZ puts ($15.0M), WULF puts ($13.0M), SMCI puts ($3.4M), CIFR puts ($2.6M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $47.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 20,000,000 | $23.9M | Add +25.0% |
| SUPER MICRO COMPUTER INC (SMCI 2.25 07/15/28) | NOTE 2.250% 7/1 · principal | 15,000,000 | $13.1M | New |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | 11,506,000 | $10.6M | Add +20.5% |
Total filed on the 13F, all lines: $236.5M.
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
Options Activity Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -77.5% | 45,000 | $29.3M |
| IWM iShares Russell 2000 ETF | put | New | 102,500 | $25.4M |
| CORZ Core Scientific Inc. | put | New | 1,000,000 | $15.0M |
| WULF Terawulf Inc. | put | New | 900,000 | $13.0M |
| SMCI Super Micro Computer Inc. | put | New | 150,000 | $3.4M |
| CIFR Cipher Digital Inc. | put | New | 200,000 | $2.6M |
| BTU Peabody Energy Corp. | call | Sold out | 40,000 | $1.2Mbefore exit |
| DAR Darling Ingredients Inc. | call | Sold out | 21,000 | $756Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | Add +25.0% | 20,000,000 | $23.9M |
| SUPER MICRO COMPUTER INC (SMCI 2.25 07/15/28) | NOTE 2.250% 7/1 · principal | New | 15,000,000 | $13.1M |
| MARA HOLDINGS INC (MARA 0 06/01/31) | NOTE 6/0 · principal | Add +20.5% | 11,506,000 | $10.6M |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | Sold out | 8,727,000 | $7.1Mbefore 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 | 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 |