Ionic Capital Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Ionic Capital Management LLC reported 80 stock positions worth $65.2 million. Its top holding was Gxo Logistics (GXO) at 5.6% of the portfolio, followed by Flex (FLEX, 4.7%) and Alight Class A (ALIT, 4.6%). Compared with Q1 2025, it opened 37 new positions, sold out of 21, added to 13 and reduced 17. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale an exit from KBR (KBR).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001386462
- Portfolio Value
- $65.2M (Q2 2025)
- SEC Filing
- 0000929638-25-003039 ↗ filed Aug 14, 2025
Holdings Value
Holdings 80 stocks · $65.2M
| GXO Gxo Logistics Inc. | 5.63% | 75,449 | $3.7M | Reduce -7.4% |
| FLEX Flex Ltd. | 4.69% | 61,253 | $3.1M | No change |
| ALIT Alight Inc. Class A | 4.58% | 527,752 | $3.0M | Reduce -2.9% |
| TNL Travel + Leisure Co. | 4.56% | 57,589 | $3.0M | No change |
| CSTM Constellium SE | 4.46% | 218,566 | $2.9M | No change |
| ATMU Atmus Filtration Technologie | 4.21% | 75,355 | $2.7M | No change |
| GMED Globus Medical Inc. Class A | 3.78% | 41,796 | $2.5M | Add +65.2% |
| RH RH | 3.10% | 10,700 | $2.0M | Add +143.2% |
| PENN Penn Entertainment Inc. | 3.07% | 112,162 | $2.0M | Add +32.5% |
| QQQX Nuveen Nasdaq 100 DYN Overwr | 2.81% | 69,146 | $1.8M | Reduce -6.7% |
| COHR Coherent Corp. | 2.50% | 18,307 | $1.6M | Add +30.8% |
| FLS Flowserve Corp. | 2.33% | 29,000 | $1.5M | Add +81.3% |
| META Meta Platforms Inc. Class A | 2.21% | 1,950 | $1.4M | New |
| SNX TD Synnex Corp. | 2.21% | 10,600 | $1.4M | Reduce -19.1% |
| URI United Rentals Inc. | 2.00% | 1,730 | $1.3M | No change |
| GTM Zoominfo Technologies Inc. | 1.95% | 125,694 | $1.3M | Reduce -17.1% |
| WIW Western Asst Infl-LNK Opp | 1.94% | 144,740 | $1.3M | Add +11.6% |
| CZR Caesars Entertainment Inc. | 1.92% | 44,185 | $1.3M | Reduce -18.5% |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 1.81% | 37,500 | $1.2M | New |
| SOC Sable Offshore Corp. | 1.62% | 48,153 | $1.1M | New |
| BLDR Builders Firstsource Inc. | 1.61% | 9,000 | $1.1M | New |
| DIAX Nuveen Dow 30 Dynamic Overwr | 1.59% | 72,407 | $1.0M | No change |
| NVDA Nvidia Corp. | 1.49% | 6,150 | $972K | Reduce -39.0% |
| CORZ Core Scientific Inc. | 1.41% | 54,000 | $922K | Reduce -22.9% |
| FL Foot Locker Inc. | 1.41% | 37,500 | $919K | New |
| SIRI Sirius XM Holdings Inc. | 1.39% | 39,470 | $907K | No change |
| TDS Telephone and Data Systems | 1.32% | 24,254 | $863K | No change |
| PRMB Primo Brands Corp. | 1.27% | 28,000 | $829K | New |
| GBTG Global Business Travel Group | 1.24% | 128,007 | $806K | New |
| AIOT Powerfleet Inc. | 1.19% | 180,677 | $779K | Add +81.0% |
| COOP Mr Cooper Group Inc. | 1.14% | 5,000 | $746K | New |
| BATRK Atlanta Braves Holdings in-C | 1.02% | 14,189 | $664K | Add +21.4% |
| TIXT Telus International Cda Inc. | 0.97% | 175,000 | $635K | New |
| AVGO Broadcom Inc. | 0.97% | 2,300 | $634K | New |
| SKX Skechers USA Inc. Class A | 0.97% | 10,000 | $631K | New |
| MANU Manchester United PLC Class A | 0.93% | 34,180 | $609K | No change |
| AMCR Amcor PLC | 0.93% | 66,000 | $607K | New |
| TSLA Tesla Inc. | 0.80% | 1,650 | $524K | Add +94.1% |
| PLTR Palantir Technologies Inc. Class A | 0.80% | 3,834 | $523K | Add +2.7% |
| NXH Neighborhood Intelligence Inc. filed as BEYOND INC | 0.79% | 75,152 | $517K | New |
| NCZ Virtus Convertible & Income | 0.76% | 38,706 | $497K | No change |
| AVTR Avantor Inc. | 0.75% | 36,343 | $489K | New |
| IBIT iShares Bitcoin Trust ETF | 0.75% | 7,941 | $486K | No change |
| ETHA iShares Ethereum Trust ETF | 0.73% | 25,000 | $477K | New |
| BABA Alibaba Group Holding-SP ADR | 0.70% | 4,000 | $454K | No change |
| AMZN Amazon.com Inc. | 0.69% | 2,050 | $450K | Reduce -10.9% |
| SPRO Spero Therapeutics Inc. | 0.67% | 150,000 | $435K | New |
| AMD Advanced Micro Devices | 0.66% | 3,040 | $431K | Reduce -9.0% |
| COIN Coinbase Global Inc. Class A | 0.64% | 1,200 | $421K | Reduce -25.0% |
| SMCI Super Micro Computer Inc. | 0.64% | 8,521 | $418K | Reduce -19.0% |
| GDX Vaneck Gold Miners ETF | 0.64% | 8,000 | $416K | Add +33.3% |
| ARRY Array Technologies Inc. | 0.63% | 70,000 | $413K | New |
| LION Lionsgate Studios Corp. | 0.62% | 70,000 | $407K | New |
| NCV Virtus Convertible & Income | 0.61% | 28,013 | $398K | No change |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.58% | 932 | $377K | Reduce -32.8% |
| NAK Northern Dynasty Minerals | 0.53% | 257,500 | $345K | New |
| BATRA Atlanta Braves Holdings in-A | 0.51% | 6,819 | $336K | Add +41.5% |
| GLW Corning Inc. | 0.48% | 6,000 | $316K | New |
| APLD Applied Digital Corp. | 0.46% | 30,000 | $302K | New |
| RCL Royal Caribbean Cruises Ltd. | 0.42% | 869 | $272K | Reduce -16.1% |
| KKR KKR & Co. Inc. | 0.41% | 2,000 | $266K | New |
| PSFE Paysafe Ltd. | 0.40% | 20,419 | $258K | Add +65.1% |
| VIK Viking Holdings Ltd. | 0.35% | 4,254 | $227K | Reduce -16.2% |
| CUK Carnival PLC-ADR | 0.34% | 8,638 | $220K | New |
| IQ Iqiyi Inc.-ADR | 0.16% | 59,024 | $104K | Reduce -81.0% |
| CDE Coeur Mining Inc. | 0.15% | 10,993 | $97K | Reduce -81.4% |
| AG First Majestic Silver Corp. | 0.14% | 11,300 | $93K | New |
| LCID Lucid Group Inc. | 0.14% | 42,924 | $91K | New |
| CODI Compass Diversified Holdings | 0.13% | 13,280 | $83K | New |
| HL Hecla Mining Co. | 0.12% | 13,078 | $78K | New |
| DNUT Krispy Kreme Inc. | 0.09% | 19,913 | $58K | New |
| SATL Satellogic Inc. Class A | 0.07% | 13,477 | $49K | New |
| JBLU Jetblue Airways Corp. | 0.07% | 10,671 | $45K | New |
| SES Ses AI Corp. | 0.06% | 47,571 | $42K | New |
| IRBTQ Irobot Corp. | 0.06% | 12,992 | $41K | New |
| SPCE Virgin Galactic Holdings Inc. | 0.06% | 14,381 | $39K | New |
| WOLF Wolfspeed Inc. | 0.04% | 72,133 | $29K | New |
| MARA Mara Holdings Inc. | 0.04% | 1,799 | $28K | New |
| LVWR Livewire Group Inc. | 0.03% | 4,336 | $20K | New |
| ENPH Enphase Energy Inc. | 0.02% | 278 | $11K | New |
Options reported separately and not counted above: HYG puts ($100.8M), EEM puts ($96.5M), EWZ puts ($11.5M), EWZ calls ($11.5M), CNI calls ($6.1M), GEN puts ($4.0M), GOOGL calls ($2.8M), CDE puts ($2.7M), JOBY puts ($2.1M), AUR calls ($2.1M), AVTR puts ($1.3M), JD calls ($1.2M), and 27 more.
Other holdings (25): bonds, preferreds, convertibles and warrants · $24.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 5,000,000 | $5.7M | New |
| MARA HOLDINGS INC (MARA 1 12/01/26) | NOTE 1.000%12/0 · principal | 6,050,000 | $5.5M | No change |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 5,500,000 | $4.5M | Add +37.5% |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 27,970 | $3.4M | Reduce -25.8% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,000,000 | $1.8M | New |
| AUROW Aurora Innovation Inc. -CW28 | *W EXP 11/03/202 | 654,988 | $570K | Reduce -12.2% |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 57,410 | $460K | New |
| TMCWW TMC the Metals Co. Inc. -CW25I | *W EXP 09/09/202 | 256,698 | $377K | New |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | 491,957 | $315K | Reduce -48.9% |
| JOBY.WS Joby Aviation Inc. -CW25 | *W EXP 08/10/202 | 100,174 | $240K | New |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | 55,000 | $239K | New |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | 290,864 | $160K | New |
| DJTWW Trump Media & Technology Gro | *W EXP 03/25/202 | 12,325 | $141K | New |
| PL.WS Planet Labs PBC -CW26 | *W EXP 12/06/202 | 148,670 | $123K | New |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 250,000 | $83K | No change |
| LVWR.WS Livewire Group Inc.-27 | *W EXP 09/26/202 | 1,522,201 | $78K | Add +471.3% |
| SLND.WS Legato Merger Corp. II -CW23 | *W EXP 02/14/202 | 274,981 | $65K | No change |
| GCTS.WS Concord Acq Class A -CW28 | *W EXP 03/01/202 | 673,000 | $65K | Add +17.4% |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 91,200 | $47K | Reduce -8.8% |
| BTMWQ Bitcoin Depot Inc.-CW23 | *W EXP 06/30/202 | 100,000 | $40K | New |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | 29,224 | $33K | Reduce -78.3% |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 1,697,432 | $32K | Add +127.1% |
| USA RARE EARTH INC | *W EXP 03/13/203 | 11,732 | $28K | New |
| NXATW K Wave Media Ltd.-28 | *W EXP 05/14/203 | 200,000 | $27K | New |
| BRLSW Oxus Acquisition Corp. -CW23 | *W EXP 02/07/202 | 70,000 | $6K | No change |
Total filed on the 13F, all lines: $89.2M.
Portfolio Sells Q1 2025 → Q2 2025
| KBR KBR Inc. | Sold out | 0.00% | −4.62 |
| DNB Dun & Bradstreet Holdings Inc. | Sold out | 0.00% | −2.16 |
| ATI Ati Inc. | Sold out | 0.00% | −1.76 |
| INTC Intel Corp. | Sold out | 0.00% | −1.57 |
| ECG Everus Construction Group | Sold out | 0.00% | −1.54 |
| ALIT Alight Inc. Class A | Reduce -2.9% | 4.58% | −1.43 |
| JOBY Joby Aviation Inc. | Sold out | 0.00% | −1.18 |
| IQ Iqiyi Inc.-ADR | Reduce -81.0% | 0.16% | −1.15 |
| X United States Steel Corp. | Sold out | 0.00% | −1.01 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.94 |
| GTM Zoominfo Technologies Inc. | Reduce -17.1% | 1.95% | −0.88 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.85 |
| NBIS Nebius Group NV | Sold out | 0.00% | −0.75 |
| VXX Ipath Series B S&P 500 Vix | Sold out | 0.00% | −0.75 |
| AZEK The Azek Co. Inc. | Sold out | 0.00% | −0.73 |
| JHX James Hardie Ord | Sold out | 0.00% | −0.70 |
| CZR Caesars Entertainment Inc. | Reduce -18.5% | 1.92% | −0.60 |
| AD Array Digital Infrastructure | Sold out | 0.00% | −0.57 |
| CPRI Capri Holdings Ltd. | Sold out | 0.00% | −0.55 |
| NVDA Nvidia Corp. | Reduce -39.0% | 1.49% | −0.55 |
| CDE Coeur Mining Inc. | Reduce -81.4% | 0.15% | −0.50 |
| QQQX Nuveen Nasdaq 100 DYN Overwr | Reduce -6.7% | 2.81% | −0.48 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −0.43 |
| CCL Carnival Corp. | Sold out | 0.00% | −0.38 |
| SNX TD Synnex Corp. | Reduce -19.1% | 2.21% | −0.33 |
| GXO Gxo Logistics Inc. | Reduce -7.4% | 5.63% | −0.30 |
| AEVA Aeva Technologies Inc. | Sold out | 0.00% | −0.23 |
| MSTR Strategy Inc. | Reduce -32.8% | 0.58% | −0.17 |
| GATE Marblegate Acquisition Cor-A | Sold out | 0.00% | −0.14 |
| AMZN Amazon.com Inc. | Reduce -10.9% | 0.69% | −0.13 |
| SLND Southland Holdings Inc. | Sold out | 0.00% | −0.08 |
| TIDAL TRUST II | Sold out | 0.00% | −0.05 |
| SMCI Super Micro Computer Inc. | Reduce -19.0% | 0.64% | −0.03 |
| VIK Viking Holdings Ltd. | Reduce -16.2% | 0.35% | −0.03 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -16.1% | 0.42% | +0.02 |
| AMD Advanced Micro Devices | Reduce -9.0% | 0.66% | +0.02 |
| COIN Coinbase Global Inc. Class A | Reduce -25.0% | 0.64% | +0.13 |
| CORZ Core Scientific Inc. | Reduce -22.9% | 1.41% | +0.47 |
Portfolio Buys Q1 2025 → Q2 2025
| META Meta Platforms Inc. Class A | New | 2.21% | +2.21 |
| YETI Yeti Holdings Inc. | New | 1.81% | +1.81 |
| SOC Sable Offshore Corp. | New | 1.62% | +1.62 |
| BLDR Builders Firstsource Inc. | New | 1.61% | +1.61 |
| FL Foot Locker Inc. | New | 1.41% | +1.41 |
| PRMB Primo Brands Corp. | New | 1.27% | +1.27 |
| GBTG Global Business Travel Group | New | 1.24% | +1.24 |
| RH RH | Add +143.2% | 3.10% | +1.18 |
| COOP Mr Cooper Group Inc. | New | 1.14% | +1.14 |
| TIXT Telus International Cda Inc. | New | 0.97% | +0.97 |
| AVGO Broadcom Inc. | New | 0.97% | +0.97 |
| SKX Skechers USA Inc. Class A | New | 0.97% | +0.97 |
| AMCR Amcor PLC | New | 0.93% | +0.93 |
| FLS Flowserve Corp. | Add +81.3% | 2.33% | +0.87 |
| COHR Coherent Corp. | Add +30.8% | 2.50% | +0.81 |
| NXH Neighborhood Intelligence Inc. | New | 0.79% | +0.79 |
| AVTR Avantor Inc. | New | 0.75% | +0.75 |
| ETHA iShares Ethereum Trust ETF | New | 0.73% | +0.73 |
| SPRO Spero Therapeutics Inc. | New | 0.67% | +0.67 |
| ARRY Array Technologies Inc. | New | 0.63% | +0.63 |
| LION Lionsgate Studios Corp. | New | 0.62% | +0.62 |
| NAK Northern Dynasty Minerals | New | 0.53% | +0.53 |
| PENN Penn Entertainment Inc. | Add +32.5% | 3.07% | +0.50 |
| GLW Corning Inc. | New | 0.48% | +0.48 |
| APLD Applied Digital Corp. | New | 0.46% | +0.46 |
| KKR KKR & Co. Inc. | New | 0.41% | +0.41 |
| TSLA Tesla Inc. | Add +94.1% | 0.80% | +0.39 |
| CUK Carnival PLC-ADR | New | 0.34% | +0.34 |
| GMED Globus Medical Inc. Class A | Add +65.2% | 3.78% | +0.33 |
| PLTR Palantir Technologies Inc. Class A | Add +2.7% | 0.80% | +0.21 |
| AIOT Powerfleet Inc. | Add +81.0% | 1.19% | +0.17 |
| BATRK Atlanta Braves Holdings in-C | Add +21.4% | 1.02% | +0.15 |
| AG First Majestic Silver Corp. | New | 0.14% | +0.14 |
| LCID Lucid Group Inc. | New | 0.14% | +0.14 |
| CODI Compass Diversified Holdings | New | 0.13% | +0.13 |
| GDX Vaneck Gold Miners ETF | Add +33.3% | 0.64% | +0.12 |
| BATRA Atlanta Braves Holdings in-A | Add +41.5% | 0.51% | +0.12 |
| HL Hecla Mining Co. | New | 0.12% | +0.12 |
| DNUT Krispy Kreme Inc. | New | 0.09% | +0.09 |
| SATL Satellogic Inc. Class A | New | 0.07% | +0.07 |
| JBLU Jetblue Airways Corp. | New | 0.07% | +0.07 |
| SES Ses AI Corp. | New | 0.06% | +0.06 |
| IRBTQ Irobot Corp. | New | 0.06% | +0.06 |
| SPCE Virgin Galactic Holdings Inc. | New | 0.06% | +0.06 |
| WOLF Wolfspeed Inc. | New | 0.04% | +0.04 |
| MARA Mara Holdings Inc. | New | 0.04% | +0.04 |
| PSFE Paysafe Ltd. | Add +65.1% | 0.40% | +0.03 |
| LVWR Livewire Group Inc. | New | 0.03% | +0.03 |
| ENPH Enphase Energy Inc. | New | 0.02% | +0.02 |
| WIW Western Asst Infl-LNK Opp | Add +11.6% | 1.94% | −0.18 |
Options Activity Q1 2025 → Q2 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | Sold out | 2,389,800 | $188.5Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -72.5% | 1,250,000 | $100.8M |
| EEM iShares MSCI Emerging Market | put | New | 2,000,000 | $96.5M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 200,000 | $93.8Mbefore exit |
| EWZ iShares MSCI Brazil ETF | put | New | 400,000 | $11.5M |
| EWZ iShares MSCI Brazil ETF | call | New | 400,000 | $11.5M |
| CNI Canadian Natl Railway Co. | call | New | 58,500 | $6.1M |
| GEN Gen Digital Inc. | put | New | 135,000 | $4.0M |
| GOOGL Alphabet Inc. Class A | call | New | 15,700 | $2.8M |
| X United States Steel Corp. | call | Sold out | 55,700 | $2.4Mbefore exit |
| JOBY Joby Aviation Inc. | put | Add +0.5% | 201,000 | $2.1M |
| AUR Aurora Innovation Inc. | call | Add +300.0% | 400,000 | $2.1M |
| WMT Walmart Inc. | call | Sold out | 18,000 | $1.5Mbefore exit |
| ORCL Oracle Corp. | call | Sold out | 10,100 | $1.4Mbefore exit |
| AVTR Avantor Inc. | put | New | 100,000 | $1.3M |
| NFLX Netflix Inc. | call | Sold out | 1,400 | $1.3Mbefore exit |
| SPOT Spotify Technology SA | call | Sold out | 2,300 | $1.3Mbefore exit |
| JD Jd.com Inc.-ADR | call | Add +165.7% | 38,000 | $1.2M |
| OUST Ouster Inc. | put | New | 50,000 | $1.2M |
| NEM Newmont Corp. | call | New | 20,000 | $1.2M |
| TEAM Atlassian Corp. Class A | call | Sold out | 5,400 | $1.1Mbefore exit |
| CRM Salesforce Inc. | call | Sold out | 4,200 | $1.1Mbefore exit |
| INTC Intel Corp. | call | Add +11.1% | 50,000 | $1.1M |
| SNOW Snowflake Inc. | call | Sold out | 7,400 | $1.1Mbefore exit |
| AUR Aurora Innovation Inc. | put | Reduce -69.2% | 200,000 | $1.0M |
| U Unity Software Inc. | call | Sold out | 50,000 | $980Kbefore exit |
| DDOG Datadog Inc. Class A | call | Sold out | 9,800 | $972Kbefore exit |
| PDD PDD Holdings Inc. | call | Add +48.3% | 8,900 | $931K |
| NXH Neighborhood Intelligence Inc. | put | New | 125,000 | $860K |
| BILI Bilibili Inc.-Sponsored ADR | call | New | 40,000 | $858K |
| NVDA Nvidia Corp. | call | Sold out | 7,500 | $813Kbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 7,500 | $813Kbefore exit |
| ELF Elf Beauty Inc. | put | New | 6,500 | $809K |
| CAVA Cava Group Inc. | call | Sold out | 8,000 | $756Kbefore exit |
| BIDU Baidu Inc. - Spon ADR | call | Add +25.7% | 8,800 | $755K |
| META Meta Platforms Inc. Class A | call | Sold out | 1,300 | $749Kbefore exit |
| NBIS Nebius Group NV | call | Sold out | 34,500 | $728Kbefore exit |
| IQ Iqiyi Inc.-ADR | put | Reduce -25.4% | 400,000 | $708K |
| AEVA Aeva Technologies Inc. | put | Sold out | 100,000 | $700Kbefore exit |
| TME Tencent Music Entertainm-ADR | call | New | 35,000 | $682K |
| QS Quantumscape Corp. | put | New | 100,000 | $672K |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -10.6% | 5,900 | $669K |
| COMP Compass Inc. Class A | call | New | 100,000 | $628K |
| AI C3.AI Inc. Class A | call | New | 25,000 | $614K |
| PL Planet Labs PBC | put | New | 100,000 | $610K |
| MSTR Strategy Inc. | put | New | 1,500 | $606K |
| MSTR Strategy Inc. | call | New | 1,500 | $606K |
| RXRX Recursion Pharmaceuticals-A | call | Sold out | 100,000 | $529Kbefore exit |
| COIN Coinbase Global Inc. Class A | put | New | 1,500 | $526K |
| AVGO Broadcom Inc. | call | Sold out | 3,100 | $519Kbefore exit |
Showing the first 50 of 61.
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
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | Sold out | 6,800,000 | $6.4Mbefore exit |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | New | 5,000,000 | $5.7M |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | Sold out | 5,622,000 | $4.8Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Sold out | 5,000,000 | $4.6Mbefore exit |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | Add +37.5% | 5,500,000 | $4.5M |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | Reduce -25.8% | 27,970 | $3.4M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 1,000,000 | $1.8M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Sold out | 20,000 | $988Kbefore exit |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Sold out | 1,050,000 | $973Kbefore exit |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Sold out | 20,000 | $964Kbefore exit |
| AUROW Aurora Innovation Inc. -CW28 | *W EXP 11/03/202 | Reduce -12.2% | 654,988 | $570K |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | New | 57,410 | $460K |
| TMCWW TMC the Metals Co. Inc. -CW25I | *W EXP 09/09/202 | New | 256,698 | $377K |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | Reduce -48.9% | 491,957 | $315K |
| JOBY.WS Joby Aviation Inc. -CW25 | *W EXP 08/10/202 | New | 100,174 | $240K |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | New | 55,000 | $239K |
| GATEW Marblegate Acquisition -CW22 | *W EXP 08/31/202 | Sold out | 1,190,045 | $190Kbefore exit |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | New | 290,864 | $160K |
| DJTWW Trump Media & Technology Gro | *W EXP 03/25/202 | New | 12,325 | $141K |
| PL.WS Planet Labs PBC -CW26 | *W EXP 12/06/202 | New | 148,670 | $123K |
| LVWR.WS Livewire Group Inc.-27 | *W EXP 09/26/202 | Add +471.3% | 1,522,201 | $78K |
| CMPOW Composecure Inc. -CW25 | *W EXP 12/27/202 | Sold out | 18,958 | $72Kbefore exit |
| GCTS.WS Concord Acq Class A -CW28 | *W EXP 03/01/202 | Add +17.4% | 673,000 | $65K |
| GBGWF Global Blue Group Holding AG | *W EXP 08/28/202 | Sold out | 2,130,088 | $47Kbefore exit |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | Reduce -8.8% | 91,200 | $47K |
| BTMWQ Bitcoin Depot Inc.-CW23 | *W EXP 06/30/202 | New | 100,000 | $40K |
| BBAI.WS Bigbear.ai Holdings -CW28 | *W EXP 12/08/202 | Sold out | 40,450 | $33Kbefore exit |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | Reduce -78.3% | 29,224 | $33K |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | Add +127.1% | 1,697,432 | $32K |
| USA RARE EARTH INC | *W EXP 03/13/203 | New | 11,732 | $28K |
| NXATW K Wave Media Ltd.-28 | *W EXP 05/14/203 | New | 200,000 | $27K |
| HOLLEY INC | *W EXP 11/30/202 | Sold out | 84,067 | $4Kbefore exit |
| MSSWF Metal SKY Star Acq -CW27 | *W EXP 03/31/202 | Sold out | 108,948 | $1Kbefore 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 | 81 | $93.0M | FLEX, AKAM, TNL, CSTM, META |
| Q1 2026 | 100 | $99.5M | IWM, QQQ, CSTM, TNL, FLEX |
| Q4 2025 | 87 | $86.0M | CSTM, TNL, GXO, ATMU, FLEX |
| Q3 2025 | 67 | $79.8M | GXO, TNL, CSTM, ATMU, FLEX |
| Q2 2025 | 80 | $65.2M | GXO, FLEX, ALIT, TNL, CSTM |
| Q1 2025 | 64 | $53.7M | ALIT, GXO, ATMU, TNL, KBR |
| Q4 2024 | 55 | $69.4M | ALIT, DNB, GXO, FLEX, ATMU |
| Q3 2024 | 66 | $112.2M | ALIT, PRGO, TNL, CSTM, GXO |
| Q2 2024 | 74 | $125.2M | TNL, CSTM, PRGO, ALIT, FLEX |
| Q1 2024 | 59 | $118.8M | ALIT, CSTM, TNL, LUCK, FLEX |