Ghisallo Capital Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Ghisallo Capital Management LLC reported 183 stock positions worth $3.7 billion. Its top holding was T-Mobile US (TMUS) at 14.3% of the portfolio, followed by Brown & Brown (BRO, 6.2%) and Dell Technologies -C (DELL, 4.9%). Compared with Q1 2025, it opened 113 new positions, sold out of 35, added to 14 and reduced 27. The biggest buy was a new position in T-Mobile US (TMUS) and the biggest sale American Electric Power (AEP, shares −82%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001825214
- Portfolio Value
- $3.7B (Q2 2025)
- SEC Filing
- 0001172661-25-003236 ↗ filed Aug 14, 2025
Holdings Value
Holdings 183 stocks · $3.7B
| TMUS T-Mobile US Inc. | 14.32% | 2,250,000 | $536.1M | New |
| BRO Brown & Brown Inc. | 6.22% | 2,100,000 | $232.8M | New |
| DELL Dell Technologies -C | 4.91% | 1,500,000 | $183.9M | New |
| PINGA 061130 CVT PUT | 4.66% | 1,296,000,000 | $174.3M | New |
| ADT Adt Inc. | 3.50% | 15,443,574 | $130.8M | Add +2988.7% |
| LOAR Loar Holdings Inc. | 2.71% | 1,175,000 | $101.2M | Add +487.5% |
| TTWO Take-Two Interactive Softwre | 2.60% | 400,000 | $97.1M | New |
| NDAQ Nasdaq Inc. | 2.39% | 1,000,000 | $89.4M | Add +900.0% |
| PRMB Primo Brands Corp. | 2.37% | 3,000,000 | $88.9M | Add +46.9% |
| CHWY Chewy Inc. Class A | 2.28% | 2,000,000 | $85.2M | New |
| MMYT Makemytrip Ltd. | 1.96% | 750,000 | $73.5M | New |
| MMYT 07/01/30 CVT PUT | 1.85% | 65,000,000 | $69.1M | New |
| SARO Standardaero Inc. | 1.83% | 2,162,869 | $68.5M | Add +60.2% |
| LPLA LPL Financial Holdings Inc. | 1.74% | 173,500 | $65.1M | New |
| GRAB HOLDINGS LTD (GRAB 0 06/15/30) filed as GRAB 06/15/30 CVT PUT | 1.35% | 47,500,000 | $50.5M | New |
| ESLT Elbit Systems Ltd. | 1.20% | 100,000 | $45.0M | New |
| QXO Qxo Inc. | 1.15% | 2,000,000 | $43.1M | New |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | 1.11% | 32,500,000 | $41.4M | New |
| SNDK Sandisk Corp. | 1.10% | 905,000 | $41.0M | New |
| AS Amer Sports Inc. | 1.04% | 1,000,000 | $38.8M | Add +2.6% |
| GLXY Galaxy Digital Inc. Class A | 1.02% | 1,750,000 | $38.3M | New |
| CNP Centerpoint Energy Inc. | 0.98% | 1,000,000 | $36.7M | New |
| ULS Ul Solutions Inc. Class A | 0.97% | 500,000 | $36.4M | Reduce -47.4% |
| OKLO Oklo Inc. | 0.97% | 650,000 | $36.4M | New |
| TTAN Servicetitan Inc. Class A | 0.96% | 341,541 | $36.1M | Add +34.8% |
| OWL Blue Owl Capital Inc. | 0.96% | 1,875,000 | $36.0M | New |
| DASH 05/15/30 CVT | 0.94% | 32,500,000 | $35.2M | New |
| CHTFK 0.375 06/30/30 CVT PUT | 0.80% | 234,000,000 | $30.0M | New |
| PINGA 0.875 07/22/29 | 0.78% | 23,000,000 | $29.3M | Reduce -14.8% |
| WAY Waystar Holding Corp. | 0.76% | 700,000 | $28.6M | Add +7.7% |
| CAI Caris Life Sciences Inc. | 0.75% | 1,048,163 | $28.0M | New |
| KTOS Kratos Defense & Security | 0.74% | 600,000 | $27.9M | New |
| AEP American Electric Power | 0.69% | 250,000 | $25.9M | Reduce -82.2% |
| WUXIA 10/19/25 CVT EXCD | 0.69% | 24,000,000 | $25.9M | Reduce -32.4% |
| BIRK Birkenstock Holding PLC | 0.66% | 500,000 | $24.6M | New |
| WTRG Essential Utilities Inc. | 0.64% | 642,030 | $23.8M | New |
| INTC Intel Corp. | 0.60% | 1,000,000 | $22.4M | New |
| LINE Lineage Inc. | 0.58% | 500,100 | $21.8M | Reduce -50.0% |
| JPM 0.100 05/20/30 MTN | 0.52% | 17,000,000 | $19.4M | New |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.49% | 600,000 | $18.3M | New |
| ADC Agree Realty Corp. | 0.49% | 250,000 | $18.3M | New |
| WEC 3.375 06/01/28 CVT | 0.47% | 17,500,000 | $17.5M | New |
| KGS Kodiak Gas Services Inc. | 0.46% | 500,000 | $17.1M | Add +6.4% |
| CPETR 0.750 05/20/32 CVT PUT | 0.45% | 131,000,000 | $17.0M | New |
| KVYO Klaviyo Inc. Class A | 0.45% | 500,000 | $16.8M | New |
| EOS ENERGY ENTERPRISES I (EOSE 6.75 06/15/30) filed as EOSE 6.750 06/15/30 CVT | 0.45% | 15,000,000 | $16.8M | New |
| SITM Sitime Corp. | 0.44% | 77,618 | $16.5M | New |
| VSEC Vse Corp. | 0.44% | 125,000 | $16.4M | Add +400.0% |
| CABLG 1.500 12/01/30 CVT | 0.41% | 13,000,000 | $15.3M | New |
| FE 3.875 06/15/31 CVT | 0.41% | 15,000,000 | $15.2M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO | 0.40% | 15,000,000 | $14.8M | New |
| RHP Ryman Hospitality Properties | 0.40% | 150,000 | $14.8M | New |
| SFLDI 07/08/26 CVT | 0.39% | 112,000,000 | $14.7M | New |
| HUDSON PAC PPTYS INC | 0.38% | 5,250,000 | $14.4M | New |
| SRAD Sportradar Group AG-A | 0.38% | 500,000 | $14.0M | New |
| FANG Diamondback Energy Inc. | 0.37% | 100,000 | $13.7M | No change |
| CRCL Circle Internet Group Inc. | 0.36% | 75,000 | $13.6M | New |
| VIK Viking Holdings Ltd. | 0.36% | 250,000 | $13.3M | No change |
| GFL GFL Environmental Inc.-Sub VT | 0.34% | 250,000 | $12.6M | Reduce -54.5% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | 0.32% | 10,000,000 | $12.0M | Add +33.3% |
| LTH Life Time Group Holdings Inc. | 0.32% | 389,674 | $11.8M | New |
| IDA Idacorp Inc. | 0.31% | 100,000 | $11.5M | New |
| KRMN Karman Holdings Inc. | 0.30% | 225,000 | $11.3M | No change |
| LUCID GROUP INC (LCID 5 04/01/30) filed as LCID 5.000 04/01/30 CVT | 0.30% | 12,500,000 | $11.3M | New |
| ODD Oddity Tech Ltd. Class A | 0.30% | 150,000 | $11.3M | New |
| HSAI Hesai Group | 0.29% | 500,000 | $11.0M | New |
| SMA Smartstop Self Storage REIT | 0.29% | 300,000 | $10.9M | New |
| LI Li Auto Inc. - ADR | 0.29% | 400,000 | $10.8M | New |
| FTW Eqv Ventures Acquisition C-A | 0.28% | 1,000,000 | $10.5M | No change |
| SAIL Sailpoint Inc. | 0.27% | 450,000 | $10.3M | No change |
| NPAC New Providence Acquisition-A | 0.27% | 1,000,000 | $10.2M | New |
| CTRI Centuri Holdings Inc. | 0.27% | 450,000 | $10.1M | New |
| TACH Titan Acquisition Corp. Class A | 0.27% | 1,000,000 | $10.1M | New |
| QFUTG 0.500 04/01/30 CVT PUT | 0.26% | 10,000,000 | $9.8M | Reduce -16.7% |
| NTWO Newbury Street II Ac Class A | 0.26% | 950,000 | $9.8M | No change |
| AHR American Healthcare REIT Inc. | 0.26% | 262,500 | $9.6M | Reduce -50.0% |
| AEE Ameren Corporation | 0.26% | 100,000 | $9.6M | New |
| VNOM Viper Energy Inc. | 0.25% | 250,000 | $9.5M | No change |
| LNT 3.250 05/30/28 CVT | 0.25% | 9,500,000 | $9.5M | New |
| ALDF Aldel Financial II Inc. | 0.25% | 900,000 | $9.4M | No change |
| ANICB 12/05/29 CVT PUT | 0.25% | 7,500,000 | $9.4M | Reduce -25.0% |
| CRMD Cormedix Inc. | 0.25% | 750,000 | $9.2M | New |
| XPEV Xpeng Inc. - ADR | 0.24% | 500,000 | $8.9M | New |
| IQX 4.625 03/15/30 CVT PUT | 0.24% | 10,000,000 | $8.9M | Reduce -33.3% |
| HIMS & HERS HEALTH (HIMS 0 05/15/30) filed as HIMS 05/15/30 CVT | 0.24% | 8,500,000 | $8.9M | New |
| LB Landbridge Co. LLC-A | 0.24% | 130,936 | $8.8M | Reduce -47.6% |
| MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC | 0.23% | 220,600 | $8.7M | Add +782.4% |
| KC Kingsoft Cloud Holdings-ADR | 0.23% | 695,000 | $8.7M | New |
| SLDE Slide Insurance Holdings Inc. | 0.23% | 400,000 | $8.7M | New |
| OS Onestream Inc. | 0.22% | 300,000 | $8.2M | New |
| ATII Archimedes Tech Spac Partner | 0.22% | 800,000 | $8.2M | No change |
| CHYM Chime Financial Inc. Class A | 0.21% | 225,000 | $7.8M | New |
| XTEPI 1.500 02/18/26 CVT | 0.20% | 56,000,000 | $7.4M | No change |
| AMSC American Superconductor Corp. | 0.20% | 200,000 | $7.3M | New |
| NG Novagold Resources Inc. | 0.19% | 1,741,510 | $7.1M | New |
| TBBB BBB Foods Inc. Class A | 0.19% | 250,000 | $6.9M | Reduce -50.0% |
| ETOR Etoro Group Ltd. Class A | 0.18% | 100,000 | $6.7M | New |
| NETD Nabors Energy Transition C-A | 0.18% | 599,800 | $6.7M | No change |
| ANSC Agriculture & Natural Soluti | 0.17% | 600,000 | $6.5M | No change |
| CNCK Coincheck Group NV | 0.17% | 1,174,242 | $6.4M | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $200K (not counted above)
Total filed on the 13F, all lines: $3.7B.
Portfolio Sells Q1 2025 → Q2 2025
| AEP American Electric Power | Reduce -82.2% | 0.69% | −13.10 |
| BABA 0.500 06/01/31 CVT PUT | Sold out | 0.00% | −4.81 |
| LINE Lineage Inc. | Reduce -50.0% | 0.58% | −4.68 |
| ULS Ul Solutions Inc. Class A | Reduce -47.4% | 0.97% | −3.84 |
| WUXIA 10/19/25 CVT EXCD | Reduce -32.4% | 0.69% | −2.64 |
| PINGA 0.875 07/22/29 | Reduce -14.8% | 0.78% | −2.14 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -54.5% | 0.34% | −2.05 |
| LB Landbridge Co. LLC-A | Reduce -47.6% | 0.24% | −1.38 |
| AIRBNB INC (ABNB 0 03/15/26) | Sold out | 0.00% | −1.29 |
| AHR American Healthcare REIT Inc. | Reduce -50.0% | 0.26% | −1.17 |
| IQX 4.625 03/15/30 CVT PUT | Reduce -33.3% | 0.24% | −1.17 |
| AESI Atlas Energy Solutions Inc. | Reduce -66.7% | 0.09% | −1.11 |
| WEC 4.375 06/01/27 CVT | Sold out | 0.00% | −1.05 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −1.04 |
| TBBB BBB Foods Inc. Class A | Reduce -50.0% | 0.19% | −1.01 |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | Sold out | 0.00% | −0.96 |
| HE Hawaiian Electric Inds | Reduce -75.0% | 0.07% | −0.91 |
| QFUTG 0.500 04/01/30 CVT PUT | Reduce -16.7% | 0.26% | −0.83 |
| ANICB 12/05/29 CVT PUT | Reduce -25.0% | 0.25% | −0.78 |
| KRP Kimbell Royalty Partners LP | Reduce -50.0% | 0.14% | −0.78 |
| VNET 2.500 04/01/30 CVT PUT | Sold out | 0.00% | −0.69 |
| MINISO GROUP HOLDING LTD | Sold out | 0.00% | −0.68 |
| VNET Vnet Group Inc.-ADR | Sold out | 0.00% | −0.67 |
| CHHNG 1.500 03/26/30 CVT PUT | Sold out | 0.00% | −0.66 |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | Sold out | 0.00% | −0.60 |
| RACE Ferrari NV | Sold out | 0.00% | −0.56 |
| FG F&G Annuities & Life Inc. | Reduce -50.0% | 0.07% | −0.44 |
| YANKU 3.500 10/03/29 CVT PUT | Sold out | 0.00% | −0.43 |
| COIN 0.250 04/01/30 CVT | Sold out | 0.00% | −0.41 |
| BOW Bowhead Specialty Holdings I | Reduce -16.7% | 0.10% | −0.34 |
| VG Venture Global Inc. Class A | Reduce -75.0% | 0.04% | −0.33 |
| ATEN 2.750 04/01/30 CVT | Sold out | 0.00% | −0.31 |
| CON Concentra Group Holdings Par | Reduce -25.0% | 0.08% | −0.31 |
| FLOC Flowco Holdings Inc. Class A | Reduce -50.0% | 0.03% | −0.29 |
| NTNX 0.500 12/15/29 CVT | Sold out | 0.00% | −0.28 |
| VLY Valley National Bancorp | Sold out | 0.00% | −0.28 |
| DEC Diversified Energy Co. PLC | Sold out | 0.00% | −0.24 |
| TWFG TWFG Inc. | Reduce -16.7% | 0.09% | −0.24 |
| APPLIED DIGITAL CORP | Sold out | 0.00% | −0.23 |
| THRY Thryv Holdings Inc. | Sold out | 0.00% | −0.23 |
| SFD Smithfield Foods Inc. | Reduce -50.0% | 0.05% | −0.23 |
| BKV BKV Corporation | Reduce -33.3% | 0.06% | −0.22 |
| INR Infinity Natural Resour Class A | Reduce -50.0% | 0.04% | −0.22 |
| NPCE Neuropace Inc. | Reduce -75.0% | 0.01% | −0.21 |
| LTM Latam Airlines Group SA-ADR | Reduce -25.0% | 0.08% | −0.20 |
| TARS Tarsus Pharmaceuticals Inc. | Sold out | 0.00% | −0.18 |
| DELTA 01/21/30 CVT PUT | Sold out | 0.00% | −0.18 |
| CAKE 2.000 03/15/30 CVT | Sold out | 0.00% | −0.17 |
| PONY Pony AI Inc. | Sold out | 0.00% | −0.15 |
| STIM Neuronetics Inc. | Sold out | 0.00% | −0.13 |
Portfolio Buys Q1 2025 → Q2 2025
| TMUS T-Mobile US Inc. | New | 14.32% | +14.32 |
| BRO Brown & Brown Inc. | New | 6.22% | +6.22 |
| DELL Dell Technologies -C | New | 4.91% | +4.91 |
| PINGA 061130 CVT PUT | New | 4.66% | +4.66 |
| ADT Adt Inc. | Add +2988.7% | 3.50% | +3.13 |
| TTWO Take-Two Interactive Softwre | New | 2.60% | +2.60 |
| CHWY Chewy Inc. Class A | New | 2.28% | +2.28 |
| MMYT Makemytrip Ltd. | New | 1.96% | +1.96 |
| MMYT 07/01/30 CVT PUT | New | 1.85% | +1.85 |
| LPLA LPL Financial Holdings Inc. | New | 1.74% | +1.74 |
| NDAQ Nasdaq Inc. | Add +900.0% | 2.39% | +1.71 |
| LOAR Loar Holdings Inc. | Add +487.5% | 2.71% | +1.44 |
| GRAB HOLDINGS LTD (GRAB 0 06/15/30) | New | 1.35% | +1.35 |
| ESLT Elbit Systems Ltd. | New | 1.20% | +1.20 |
| QXO Qxo Inc. | New | 1.15% | +1.15 |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | New | 1.11% | +1.11 |
| SNDK Sandisk Corp. | New | 1.10% | +1.10 |
| GLXY Galaxy Digital Inc. Class A | New | 1.02% | +1.02 |
| CNP Centerpoint Energy Inc. | New | 0.98% | +0.98 |
| OKLO Oklo Inc. | New | 0.97% | +0.97 |
| OWL Blue Owl Capital Inc. | New | 0.96% | +0.96 |
| DASH 05/15/30 CVT | New | 0.94% | +0.94 |
| CHTFK 0.375 06/30/30 CVT PUT | New | 0.80% | +0.80 |
| CAI Caris Life Sciences Inc. | New | 0.75% | +0.75 |
| KTOS Kratos Defense & Security | New | 0.74% | +0.74 |
| BIRK Birkenstock Holding PLC | New | 0.66% | +0.66 |
| WTRG Essential Utilities Inc. | New | 0.64% | +0.64 |
| INTC Intel Corp. | New | 0.60% | +0.60 |
| JPM 0.100 05/20/30 MTN | New | 0.52% | +0.52 |
| GDS GDS Holdings Ltd. - ADR | New | 0.49% | +0.49 |
| ADC Agree Realty Corp. | New | 0.49% | +0.49 |
| WEC 3.375 06/01/28 CVT | New | 0.47% | +0.47 |
| CPETR 0.750 05/20/32 CVT PUT | New | 0.45% | +0.45 |
| KVYO Klaviyo Inc. Class A | New | 0.45% | +0.45 |
| EOS ENERGY ENTERPRISES I (EOSE 6.75 06/15/30) | New | 0.45% | +0.45 |
| SITM Sitime Corp. | New | 0.44% | +0.44 |
| CABLG 1.500 12/01/30 CVT | New | 0.41% | +0.41 |
| FE 3.875 06/15/31 CVT | New | 0.41% | +0.41 |
| FORD MOTOR COMPANY (F 0 03/15/26) | New | 0.40% | +0.40 |
| RHP Ryman Hospitality Properties | New | 0.40% | +0.40 |
| SFLDI 07/08/26 CVT | New | 0.39% | +0.39 |
| HUDSON PAC PPTYS INC | New | 0.38% | +0.38 |
| SRAD Sportradar Group AG-A | New | 0.38% | +0.38 |
| CRCL Circle Internet Group Inc. | New | 0.36% | +0.36 |
| LTH Life Time Group Holdings Inc. | New | 0.32% | +0.32 |
| IDA Idacorp Inc. | New | 0.31% | +0.31 |
| LUCID GROUP INC (LCID 5 04/01/30) | New | 0.30% | +0.30 |
| ODD Oddity Tech Ltd. Class A | New | 0.30% | +0.30 |
| HSAI Hesai Group | New | 0.29% | +0.29 |
| SMA Smartstop Self Storage REIT | New | 0.29% | +0.29 |
Notes & Other Activity Q1 2025 → Q2 2025
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Sold out | 300,000 | $17.7Mbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 400,000 | $17.6Mbefore 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 | 291 | $4.1B | SPCX, DLR, GOOGL, GOOG, SMCI |
| Q1 2026 | 272 | $3.6B | MDLN, XPEV, HYUHI 05/04/31 CVT PUT, TSLA, NVDA |
| Q4 2025 | 205 | $2.2B | XPEV, BABA 091532 CVT PUT, CHPAC 091830 CVT PUT, ULS, PINGA 061130 CVT PUT |
| Q3 2025 | 215 | $3.1B | BABA 091532 CVT PUT, NBIS, CHPAC 091830 CVT PUT, FOX, PINGA 061130 CVT PUT |
| Q2 2025 | 183 | $3.7B | TMUS, BRO, DELL, PINGA 061130 CVT PUT, ADT |
| Q1 2025 | 105 | $1.1B | AEP, PRMB, LINE, ULS, BABA 0.500 06/01/31 CVT PUT |
| Q4 2024 | 106 | $1.7B | BA, AJG, LINE, VIK, FANG |
| Q3 2024 | 130 | $1.8B | FANG, DELL, GEHC, PIAIF, TCOM |
| Q2 2024Amended | 118 | $1.1B | CCC, BABA 0.500 06/01/31 CVT PUT, DLR, KVUE, BIRK |
| Q1 2024 | 99 | $791.9M | NDAQ, ARM, BUD, MTDR, CRBG |