In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Fore Capital, LLC reported 22 stock positions worth $29.1 million . Its top holding was iShares Gold Trust (IAU) at 35.4% of the portfolio, followed by Vici Properties (VICI, 9.5% ) and Sprott Physical Gold and Sil (CEF, 9.0% ). Compared with Q3 2024, it opened 9 new positions, sold out of 9, added to 7 and reduced 2. The biggest buy was a new position in Vici Properties (VICI) and the biggest sale an exit from iShares Silver Trust (SLV).
Location New York, NY
CIK 0001714672
Portfolio Value $29.1M (Q4 2024) Holdings 22 stocks · $29.1M 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 Q3 2024 IAU iShares Gold Trust 208,000 $10.3M Add +16.9% VICI Vici Properties Inc. filed as VICI PPTYS INC 95,000 $2.8M New CEF Sprott Physical Gold and Sil 110,000 $2.6M No change PSLV Sprott Physical Silver Trust 240,000 $2.3M New LH Labcorp Holdings Inc. 5,900 $1.4M New ELS Equity Lifestyle Properties 20,000 $1.3M New CNC Centene Corp. 20,000 $1.2M New ACHC Acadia Healthcare Co. Inc. 30,000 $1.2M New BLCO Bausch + Lomb Corp. 57,614 $1.0M Add +9.5% PRGO Perrigo Co. PLC 38,000 $977K Add +35.7% GRFS Grifols SA-ADR 130,000 $967K New ATAT Atour Lifestyle Holdings-ADR 20,000 $538K New CCO Clear Channel Outdoor Holdin 368,650 $505K Add +3586.5% PGEN Precigen Inc. 391,811 $439K Add +27.7% EAF Graftech International Ltd. 170,000 $294K Reduce -46.9% HELP Cybin Inc. 31,421 $277K Add +70.6% MIND MEDICINE MINDMED INC 37,539 $261K Add +25.1% CTEV Claritev Corp. filed as MULTIPLAN CORPORATION 14,875 $220K No change AZUL S A 100,000 $167K New CMPS Compass Pathways PLC 35,000 $132K No change CTGO Contango Silver & Gold Inc. 11,100 $111K No change DADA Dada Nexus Ltd.-ADR 70,000 $85K Reduce -22.2%
Options reported separately and not counted above: SPY puts ($79.1M), SLV calls ($50.0M), TLTW calls ($22.7M), GDX calls ($13.6M), KWEB calls ($9.5M), EEM calls ($3.8M), JD puts ($1.7M), MIND MEDICINE MINDMED INC calls ($522K).
Other holdings (20): bonds, preferreds, convertibles and warrants · $51.9M (not counted above) Security Class Shares / Principal Value Change CONMED CORP (CNMD 2.25 06/15/27) NOTE 2.250% 6/1 · principal 7,000,000 $6.5M New ETSY INC (ETSY 0.25 06/15/28) NOTE 0.250% 6/1 · principal 5,000,000 $4.1M No change CHEGG INC (CHGG 0 09/01/26) NOTE 9/0 · principal 4,500,000 $3.7M New H WORLD GROUP LTD (HTHT 3 05/01/26) NOTE 3.000% 5/0 · principal 3,000,000 $3.2M No change LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) NOTE 1.750% 1/1 · principal 4,060,000 $3.1M Add +160.3% NCL CORPORATION LTD (NCLH 1.125 02/15/27) NOTE 1.125% 2/1 · principal 3,000,000 $3.1M No change ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) NOTE 1.500% 9/0 · principal 3,000,000 $3.0M Add +50.0% OIL STATES INTL INC (OIS 4.75 04/01/26) NOTE 4.750% 4/0 · principal 3,000,000 $2.9M No change PDD HOLDINGS INC (PDD 0 12/01/25) NOTE 12/0 · principal 3,000,000 $2.9M Add +50.0% OKTA INC (OKTA 0.375 06/15/26) NOTE 0.375% 6/1 · principal 3,000,000 $2.8M New RAPID7 INC (RPD 0.25 03/15/27) NOTE 0.250% 3/1 · principal 3,000,000 $2.8M No change HAEMONETICS CORP (HAE 0 03/01/26) NOTE 3/0 · principal 2,703,000 $2.6M New UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 2,000,000 $2.2M New GUARDANT HEALTH INC (GH 0 11/15/27) NOTE 11/1 · principal 2,500,000 $2.1M No change DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) NOTE 12/0 · principal 2,000,000 $1.8M Add +100.0% BILL HOLDINGS INC (BILL 0 04/01/27) NOTE 4/0 · principal 2,000,000 $1.8M No change FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) NOTE 0.375% 1/1 · principal 1,500,000 $1.4M No change WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) NOTE 1.750% 5/0 · principal 1,000,000 $890K No change WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) NOTE 0.250% 2/1 · principal 1,551,000 $722K Add +3.4% WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) NOTE 1.875%12/0 · principal 1,000,000 $419K New
Total filed on the 13F, all lines: $81.0M.
Portfolio Sells Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ SLV iShares Silver Trust Sold out 0.00% −12.31 XBI SS SPDR S&P Biotech ETF Sold out 0.00% −10.71 XLV SS Health Care Select Sector Sold out 0.00% −6.68 ALB Albemarle Corp. Sold out 0.00% −1.85 SQM Quimica Y Minera Chil-SP ADR Sold out 0.00% −1.81 EAF Graftech International Ltd. Reduce -46.9% 1.01% −0.82 LAR Lithium Americas Argentina C Sold out 0.00% −0.57 DADA Dada Nexus Ltd.-ADR Reduce -22.2% 0.29% −0.45 HYMC Hycroft Mining Holding Co. Class A Sold out 0.00% −0.43 LUMINAR TECHNOLOGIES INC Sold out 0.00% −0.23 BMRA Biomerica Inc. Sold out 0.00% −0.08
Portfolio Buys Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ VICI Vici Properties Inc. New 9.54% +9.54 PSLV Sprott Physical Silver Trust New 7.96% +7.96 LH Labcorp Holdings Inc. New 4.65% +4.65 ELS Equity Lifestyle Properties New 4.58% +4.58 CNC Centene Corp. New 4.16% +4.16 ACHC Acadia Healthcare Co. Inc. New 4.09% +4.09 GRFS Grifols SA-ADR New 3.32% +3.32 ATAT Atour Lifestyle Holdings-ADR New 1.85% +1.85 CCO Clear Channel Outdoor Holdin Add +3586.5% 1.74% +1.67 AZUL S A New 0.57% +0.57 PGEN Precigen Inc. Add +27.7% 1.51% +0.25 HELP Cybin Inc. Add +70.6% 0.95% +0.24 PRGO Perrigo Co. PLC Add +35.7% 3.36% +0.17 MIND MEDICINE MINDMED INC Add +25.1% 0.90% +0.16 BLCO Bausch + Lomb Corp. Add +9.5% 3.58% −0.82 IAU iShares Gold Trust Add +16.9% 35.39% −2.96
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -15.6% 135,000 $79.1M GLD SPDR Gold Shares call Sold out 235,000 $57.1Mbefore exit SLV iShares Silver Trust call Add +131.7% 1,900,000 $50.0M TLTW iShares 20+ Bond Buywrite call New 260,000 $22.7M GDX Vaneck Gold Miners ETF call Add +100.0% 400,000 $13.6M KWEB Kranesh Csi China Internet call Add +225.0% 325,000 $9.5M EEM iShares MSCI Emerging Market call New 90,000 $3.8M FXI iShares China Large-Cap ETF call Sold out 100,000 $3.2Mbefore exit JD Jd.com Inc.-ADR put New 50,000 $1.7M MIND MEDICINE MINDMED INC call New 75,000 $522K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ CONMED CORP (CNMD 2.25 06/15/27) NOTE 2.250% 6/1 · principal New 7,000,000 $6.5M CHEGG INC (CHGG 0 09/01/26) NOTE 9/0 · principal New 4,500,000 $3.7M LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) NOTE 1.750% 1/1 · principal Add +160.3% 4,060,000 $3.1M ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) NOTE 1.500% 9/0 · principal Add +50.0% 3,000,000 $3.0M PDD HOLDINGS INC (PDD 0 12/01/25) NOTE 12/0 · principal Add +50.0% 3,000,000 $2.9M OKTA INC (OKTA 0.375 06/15/26) NOTE 0.375% 6/1 · principal New 3,000,000 $2.8M HAEMONETICS CORP (HAE 0 03/01/26) NOTE 3/0 · principal New 2,703,000 $2.6M UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal New 2,000,000 $2.2M DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) NOTE 12/0 · principal Add +100.0% 2,000,000 $1.8M WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) NOTE 0.250% 2/1 · principal Add +3.4% 1,551,000 $722K WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) NOTE 1.875%12/0 · principal New 1,000,000 $419K
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 35 $31.7M GDX, XLV, TCOM, ECH, EXE Q1 2026 16 $15.1M GDX, HYG, KWEB, ECH, NU Q4 2025 28 $40.7M IAU, CEF, AR, ELS, CRM Q3 2025 29 $39.6M IAU, CEF, XLV, ELS, NVO Q2 2025 22 $26.9M IAU, CEF, KWEB, PRGO, EWZ Q1 2025 35 $37.5M IAU, CEF, PSLV, VICI, LH Q4 2024 22 $29.1M IAU, VICI, CEF, PSLV, LH Q3 2024 22 $23.1M IAU, SLV, CEF, XBI, XLV Q2 2024 30 $28.2M IAU, CEF, VNQ, PSQ, NUGT Q1 2024 22 $16.1M IAU, CEF, VICI, DAL, HUM