Isabella Capital Management LLP In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 3, 2026), Isabella Capital Management LLP reported 1 stock position worth $15.6 million . Its top holding was Ishr Ibx Usd Hiyld CB ETF-Ui (HYG) at 100.0% of the portfolio. Compared with Q1 2026, it added to 1. The biggest buy was Ishr Ibx Usd Hiyld CB ETF-Ui (HYG, shares +11% ).
Location LONDON, X0
CIK 0002134988
Portfolio Value $15.6M (Q2 2026) Holdings 1 stocks · $15.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 HYG Ishr Ibx Usd Hiyld CB ETF-Ui 195,000 $15.6M Add +11.4%
Options reported separately and not counted above: HYG puts ($40.0M).
Other holdings (6): bonds, preferreds, convertibles and warrants · $132.8M (not counted above) Security Class Shares / Principal Value Change ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 71,000,000 $83.9M Add +158.2% MARA HOLDINGS INC (MARA 2.125 09/01/31) NOTE 2.125% 9/0 · principal 25,000,000 $28.0M Add +85.2% WEIBO CORP (WB 1.375 12/01/30) NOTE 1.375%12/0 · principal 15,000,000 $15.0M New SUPER MICRO COMPUTER INC (SMCI 0 06/15/30) NOTE 6/1 · principal 5,500,000 $4.9M New ALPHABET INC (GOOGL 6.25 05/15/29 A) DEP SHS RP1/20 A 10,000 $506K New ALPHABET INC (GOOGL 6.25 05/15/29 B) DEP SHS RP1/20 B 10,000 $501K New
Total filed on the 13F, all lines: $148.4M.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ None this quarter.
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +11.4% 100.00% 0.00
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ SMCI Super Micro Computer Inc. put Sold out 50,000 $1.1Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026 Security Class Change vs Q1 2026 Shares / Principal Value ▼ ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Add +158.2% 71,000,000 $83.9M MARA HOLDINGS INC (MARA 2.125 09/01/31) NOTE 2.125% 9/0 · principal Add +85.2% 25,000,000 $28.0M WEIBO CORP (WB 1.375 12/01/30) NOTE 1.375%12/0 · principal New 15,000,000 $15.0M STRATEGY INC (MSTR 0.875 03/15/31) NOTE 0.875% 3/1 · principal Sold out 10,000,000 $9.7Mbefore exit STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal Sold out 11,000,000 $9.2Mbefore exit STRATEGY INC (MSTR 0 03/01/30) NOTE 3/0 · principal Sold out 10,000,000 $8.7Mbefore exit SUPER MICRO COMPUTER INC (SMCI 0 06/15/30) NOTE 6/1 · principal New 5,500,000 $4.9M STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal Sold out 2,500,000 $2.8Mbefore exit ALPHABET INC (GOOGL 6.25 05/15/29 A) DEP SHS RP1/20 A New 10,000 $506K ALPHABET INC (GOOGL 6.25 05/15/29 B) DEP SHS RP1/20 B New 10,000 $501K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.