Jones Road Capital Management, L.P.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Jones Road Capital Management, L.P. reported 9 stock positions worth $34.0 million. Its top holding was Meta Platforms Class A (META) at 40.8% of the portfolio, followed by Oracle (ORCL, 18.9%) and Carpenter Technology (CRS, 16.7%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 2 and reduced 3. The biggest buy was a new position in Carpenter Technology (CRS) and the biggest sale Vistance Networks (VISN, shares −88%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001842361
- Portfolio Value
- $34.0M (Q4 2025)
- SEC Filing
- 0001842361-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 9 stocks · $34.0M
| META Meta Platforms Inc. Class A | 40.84% | 21,010 | $13.9M | Add +7.7% |
| ORCL Oracle Corp. | 18.88% | 32,900 | $6.4M | Reduce -23.3% |
| CRS Carpenter Technology | 16.69% | 18,000 | $5.7M | New |
| ATI Ati Inc. | 10.14% | 30,000 | $3.4M | Reduce -63.7% |
| AVB Avalonbay Communities Inc. | 5.18% | 9,700 | $1.8M | No change |
| MSFT Microsoft Corp. | 4.13% | 2,900 | $1.4M | No change |
| VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC | 2.67% | 50,000 | $907K | Reduce -88.5% |
| CYH Community Health Systems Inc. | 0.94% | 102,400 | $319K | No change |
| NFE New Fortress Energy Inc. | 0.54% | 159,700 | $182K | Add +45.6% |
Options reported separately and not counted above: GEV puts ($32.7M), ORCL puts ($14.6M), QQQ puts ($6.1M), AAPL puts ($4.9M), NEE calls ($4.0M).
Other holdings (7): bonds, preferreds, convertibles and warrants · $58.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 14,919,000 | $18.6M | No change |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 7,732,000 | $12.0M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 9,879,000 | $10.2M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 5,000,000 | $5.2M | New |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 5,000,000 | $4.9M | New |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 3,730,000 | $3.8M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 52,700 | $3.6M | Add +39.8% |
Total filed on the 13F, all lines: $92.4M.
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
Options Activity Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | call | Sold out | 120,000 | $62.2Mbefore exit |
| GEV GE Vernova Inc. | put | New | 50,000 | $32.7M |
| ORCL Oracle Corp. | put | Add +248.8% | 75,000 | $14.6M |
| FXI iShares China Large-Cap ETF | call | Sold out | 150,000 | $6.2Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | New | 10,000 | $6.1M |
| AAPL Apple Inc. | put | New | 18,000 | $4.9M |
| NEE Nextera Energy Inc. | call | New | 50,000 | $4.0M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | New | 5,000,000 | $5.2M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 5,000,000 | $4.9M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +39.8% | 52,700 | $3.6M |
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 | 14 | $9.3M | META, CRS, FE, ATI, ORCL |
| Q1 2026 | 9 | $23.4M | CRS, META, ORCL, ATI, AVB |
| Q4 2025 | 9 | $34.0M | META, ORCL, CRS, ATI, AVB |
| Q3 2025 | 11 | $45.7M | META, ORCL, ATI, VISN, AVB |
| Q2 2025 | 11 | $51.1M | META, ORCL, ATI, VISN, AVB |
| Q1 2025 | 17 | $83.1M | META, BKLN, ORCL, LQD, ADX |
| Q4 2024 | 21 | $108.4M | META, BKLN, HPE, LQD, ORCL |
| Q3 2024 | 19 | $98.6M | META, LQD, ORCL, BKLN, ATI |
| Q2 2024 | 20 | $94.2M | META, LQD, BKLN, THC, ORCL |
| Q1 2024 | 21 | $96.5M | META, LQD, BKLN, SPR, ORCL |