Helix Partners Management LP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Helix Partners Management LP reported 9 stock positions worth $113.1 million. Its top holding was Core Scientific (CORZ) at 38.4% of the portfolio, followed by Global Net Lease (GNL, 23.6%) and Echostar Class A (ECHO, 9.7%). Compared with Q4 2024, it sold out of 5, added to 5 and reduced 4. The biggest buy was Echostar Class A (ECHO, shares +19%) and the biggest sale Core Scientific (CORZ, shares −3%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001995612
Portfolio Value
$113.1M (Q1 2025)
SEC Filing
0001995612-25-000004 ↗ filed May 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q4 2024: $181.3M Q4 2024 Q1 2025: $113.1M $113.1M Q1 2025 Q2 2025: $186.9M Q2 2025 Q3 2025: $167.8M Q3 2025 Q4 2025: $162.0M Q4 2025 Q1 2026: $156.7M Q1 2026 Q2 2026: $370.9M Q2 2026

Holdings 9 stocks · $113.1M
CORZ Core Scientific Inc. 38.41% 6,000,000 $43.4M Reduce -2.5%
GNL Global Net Lease Inc. 23.64% 3,325,000 $26.7M Reduce -0.8%
ECHO Echostar Corp. Class A 9.69% 428,300 $11.0M Add +19.1%
CIFR Cipher Digital Inc. 8.95% 4,400,000 $10.1M Add +95.8%
SLM SLM Corp. 7.79% 300,000 $8.8M Reduce -40.0%
PDM Piedmont Realty Trust Inc. 5.21% 800,000 $5.9M Add +14.3%
CYH Community Health Systems Inc. 3.93% 1,647,745 $4.4M Add +0.1%
IHRT Iheartmedia Inc. Class A 1.50% 1,026,163 $1.7M Add +123.1%
UNIT Uniti Group LLC Com SHS 0.89% 200,000 $1.0M Reduce -27.3%

Options reported separately and not counted above: SPY puts ($167.8M), IWM puts ($43.9M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $11.9M (not counted above)
SecurityClassShares / PrincipalValueChange
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal 10,618,550$11.9MNo change

Total filed on the 13F, all lines: $125.0M.

Portfolio Sells Q4 2024 → Q1 2025
CORZ Core Scientific Inc. Reduce -2.5% 38.41% −9.30
AER Aercap Holdings NV Sold out 0.00% −3.96
SIRI Sirius XM Holdings Inc. Sold out 0.00% −3.48
HIW Highwoods Properties Inc. Sold out 0.00% −3.37
HUT Hut 8 Corp. Sold out 0.00% −2.20
HUDSON PAC PPTYS INC Sold out 0.00% −0.32
UNIT Uniti Group LLC Com SHS Reduce -27.3% 0.89% +0.06
SLM SLM Corp. Reduce -40.0% 7.79% +0.18
GNL Global Net Lease Inc. Reduce -0.8% 23.64% +10.15

Portfolio Buys Q4 2024 → Q1 2025
ECHO Echostar Corp. Class A Add +19.1% 9.69% +5.14
CIFR Cipher Digital Inc. Add +95.8% 8.95% +3.20
PDM Piedmont Realty Trust Inc. Add +14.3% 5.21% +1.68
CYH Community Health Systems Inc. Add +0.1% 3.93% +1.22
IHRT Iheartmedia Inc. Class A Add +123.1% 1.50% +0.99

Options Activity Q4 2024 → Q1 2025
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 2,300,000 $180.9Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US put Add +73.9% 300,000 $167.8M
QQQ Invesco QQQ Trust Series 1 put Sold out 117,500 $60.1Mbefore exit
IWM iShares Russell 2000 ETF put Add +35.4% 220,000 $43.9M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 10$370.9MCORZ, OPI, SVC, GNL, COF
Q1 2026 11$156.7MCORZ, GNL, ECHO, COF, PFSI
Q4 2025 10$162.0MCORZ, GNL, ECHO, CNK, PDM
Q3 2025 7$167.8MCORZ, GNL, ECHO, CYH, PDM
Q2 2025 11$186.9MCORZ, GNL, CIFR, ECHO, SLM
Q1 2025 9$113.1MCORZ, GNL, ECHO, CIFR, SLM
Q4 2024 14$181.3MCORZ, GNL, SLM, CIFR, ECHO