Helix Partners Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Helix Partners Management LP reported 11 stock positions worth $186.9 million. Its top holding was Core Scientific (CORZ) at 55.1% of the portfolio, followed by Global Net Lease (GNL, 13.3%) and Cipher Digital (CIFR, 11.3%). Compared with Q1 2025, it opened 2 new positions, added to 4 and reduced 4. The biggest buy was Core Scientific (CORZ, shares +0%) and the biggest sale Global Net Lease (GNL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001995612
- Portfolio Value
- $186.9M (Q2 2025)
- SEC Filing
- 0001995612-25-000007 ↗ filed Aug 13, 2025
Holdings Value
Holdings 11 stocks · $186.9M
| CORZ Core Scientific Inc. | 55.07% | 6,029,222 | $102.9M | Add +0.5% |
| GNL Global Net Lease Inc. | 13.29% | 3,290,202 | $24.8M | Reduce -1.1% |
| CIFR Cipher Digital Inc. | 11.27% | 4,404,900 | $21.1M | Add +0.1% |
| ECHO Echostar Corp. Class A | 5.78% | 390,000 | $10.8M | Reduce -8.9% |
| SLM SLM Corp. | 4.39% | 250,000 | $8.2M | Reduce -16.7% |
| CYH Community Health Systems Inc. | 3.60% | 1,977,765 | $6.7M | Add +20.0% |
| PDM Piedmont Realty Trust Inc. | 2.44% | 625,000 | $4.6M | Reduce -21.9% |
| KBE SS SPDR S&P Bank ETF | 1.34% | 45,000 | $2.5M | New |
| KBWB Invesco KBW Bank ETF | 1.34% | 35,000 | $2.5M | New |
| IHRT Iheartmedia Inc. Class A | 1.02% | 1,084,016 | $1.9M | Add +5.6% |
| UNIT Uniti Group LLC Com SHS | 0.46% | 200,000 | $864K | No change |
Options reported separately and not counted above: IWM puts ($44.2M), SPY puts ($30.9M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $3.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | 2,500,000 | $3.2M | New |
Total filed on the 13F, all lines: $190.1M.
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
Options Activity Q1 2025 → Q2 2025
| IWM iShares Russell 2000 ETF | put | Reduce -6.8% | 205,000 | $44.2M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -83.3% | 50,000 | $30.9M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Sold out | 10,618,550 | $11.9Mbefore exit |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | NOTE 1.750% 5/1 · principal | New | 2,500,000 | $3.2M |
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 | 10 | $370.9M | CORZ, OPI, SVC, GNL, COF |
| Q1 2026 | 11 | $156.7M | CORZ, GNL, ECHO, COF, PFSI |
| Q4 2025 | 10 | $162.0M | CORZ, GNL, ECHO, CNK, PDM |
| Q3 2025 | 7 | $167.8M | CORZ, GNL, ECHO, CYH, PDM |
| Q2 2025 | 11 | $186.9M | CORZ, GNL, CIFR, ECHO, SLM |
| Q1 2025 | 9 | $113.1M | CORZ, GNL, ECHO, CIFR, SLM |
| Q4 2024 | 14 | $181.3M | CORZ, GNL, SLM, CIFR, ECHO |