Kim, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Kim, LLC reported 22 stock positions worth $536.8 million. Its top holding was Sound Point Meridian Capital (SPMC) at 35.9% of the portfolio, followed by Return Stacked US S&F YD ETF (RSSY, 17.3%) and Return STKD BND & Fut YD ETF (RSBY, 14.9%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 3 and reduced 1. The biggest buy was a new position in Sound Point Meridian Capital (SPMC) and the biggest sale an exit from Mach Natural Resources (MNR).
- Most Recent 13F
- Q2 2026
- Location
- WICHITA, KS
- CIK
- 0001888968
- Portfolio Value
- $536.8M (Q2 2025)
- SEC Filing
- 0000923338-25-000005 ↗ filed Aug 11, 2025
Holdings Value
Holdings 22 stocks · $536.8M
| SPMC Sound Point Meridian Capital | 35.92% | 10,784,192 | $192.8M | New |
| RSSY Return Stacked US S&F YD ETF | 17.27% | 5,000,000 | $92.7M | No change |
| RSBY Return STKD BND & Fut YD ETF | 14.89% | 5,000,000 | $79.9M | No change |
| ASPN Aspen Aerogels Inc. | 13.54% | 12,280,426 | $72.7M | No change |
| VSH Vishay Intertechnology Inc. | 9.35% | 3,159,384 | $50.2M | No change |
| TE T1 Energy Inc. | 1.64% | 7,167,835 | $8.8M | No change |
| BZ Kanzhun Ltd. - ADR | 1.12% | 336,552 | $6.0M | No change |
| TXO Txo Partners LP | 1.08% | 385,515 | $5.8M | Reduce -2.5% |
| KORE Kore Group Holdings Inc. | 0.89% | 2,000,000 | $4.8M | No change |
| NZF Nuveen Municipal Credit Inc. | 0.56% | 250,000 | $3.0M | No change |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.50% | 243,700 | $2.7M | No change |
| SMRT Smartrent Inc. | 0.49% | 2,656,173 | $2.6M | No change |
| RIVN Rivian Automotive Inc. Class A | 0.46% | 178,791 | $2.5M | No change |
| MYI BlackRock Muniyield QLTY III | 0.40% | 203,124 | $2.1M | Add +1.1% |
| XPEV Xpeng Inc. - ADR | 0.37% | 110,000 | $2.0M | No change |
| DDL Dingdong Cayman Ltd. -SPN ADR | 0.35% | 928,008 | $1.9M | No change |
| FIP Ftai Infrastructure Inc. | 0.34% | 293,901 | $1.8M | No change |
| BLND Blend Labs Inc. Class A | 0.23% | 370,786 | $1.2M | No change |
| XMYDX BlackRock Muniyield Fund | 0.22% | 117,349 | $1.2M | Add +1.1% |
| NAD Nuveen Quality Municipal Inc. | 0.21% | 100,000 | $1.1M | No change |
| CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC | 0.14% | 153,767 | $769K | No change |
| MHD BlackRock Muniholdings Fund | 0.05% | 22,686 | $254K | Add +1.1% |
Options reported separately and not counted above: SPY puts ($92.7M).
Other holdings (55): bonds, preferreds, convertibles and warrants · $426.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EVOLENT HEALTH INC (EVH 1.5 10/15/25) | NOTE 1.500%10/1 · principal | 20,372,000 | $20.2M | New |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 13,500,000 | $15.3M | Add +17.4% |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 15,463,000 | $15.1M | Add +60.3% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 10,500,000 | $15.0M | Add +110.0% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 15,000,000 | $15.0M | New |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | 15,000,000 | $15.0M | Add +20.0% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 15,231,000 | $14.9M | Add +470.7% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 15,000,000 | $14.9M | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 15,000,000 | $14.6M | Add +66.7% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 15,000,000 | $14.5M | Add +25.0% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 14,000,000 | $13.9M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 13,027,000 | $12.6M | Reduce -10.2% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 12,000,000 | $12.4M | Add +20.0% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 9,000,000 | $10.5M | No change |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 10,740,000 | $10.4M | New |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 10,000,000 | $9.7M | New |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 10,000,000 | $9.6M | New |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 9,000,000 | $8.9M | Reduce -10.0% |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 9,000,000 | $8.7M | New |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 5,500,000 | $8.6M | No change |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 9,000,000 | $8.4M | Reduce -14.3% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 4,500,000 | $8.1M | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 7,000,000 | $7.9M | New |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 7,276,000 | $7.8M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,000,000 | $7.7M | New |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 7,000,000 | $7.6M | New |
| OMNICELL INC (OMCL 0.25 09/15/25) | NOTE 0.250% 9/1 · principal | 7,308,000 | $7.2M | No change |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | 7,000,000 | $6.7M | New |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 7,000,000 | $6.6M | Reduce -12.5% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 5,000,000 | $6.6M | Reduce -28.6% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 5,000,000 | $6.0M | New |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 6,000,000 | $5.8M | No change |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 6,000,000 | $5.8M | New |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 5,000,000 | $5.8M | New |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 5,000,000 | $5.5M | New |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 4,500,000 | $5.4M | Reduce -35.7% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 5,000,000 | $5.3M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 5,000,000 | $5.2M | New |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 4,500,000 | $4.8M | Reduce -10.0% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 5,500,000 | $4.8M | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 3,000,000 | $4.6M | New |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 4,000,000 | $4.0M | New |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 4,000,000 | $3.9M | New |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 4,000,000 | $3.6M | New |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 3,000,000 | $3.6M | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 2,530,000 | $2.7M | New |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 2,500,000 | $2.5M | Reduce -16.7% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 2,500,000 | $2.5M | New |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 2,000,000 | $2.3M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 2,000,000 | $1.9M | No change |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 2,000,000 | $1.9M | Reduce -71.4% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 2,000,000 | $1.8M | Reduce -66.7% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 1,393,000 | $1.3M | Reduce -65.2% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 1,000,000 | $995K | New |
| OUSTZ Ouster Inc. -CW25 | *W EXP 03/11/202 | 274,200 | $32K | No change |
Total filed on the 13F, all lines: $963.1M.
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
Options Activity Q1 2025 → Q2 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 3,000,200 | $236.7Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 150,000 | $92.7M |
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
| EVOLENT HEALTH INC (EVH 1.5 10/15/25) | NOTE 1.500%10/1 · principal | New | 20,372,000 | $20.2M |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | Add +17.4% | 13,500,000 | $15.3M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Add +60.3% | 15,463,000 | $15.1M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +110.0% | 10,500,000 | $15.0M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | New | 15,000,000 | $15.0M |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | Add +20.0% | 15,000,000 | $15.0M |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Add +470.7% | 15,231,000 | $14.9M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 14,750,000 | $14.8Mbefore exit |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +66.7% | 15,000,000 | $14.6M |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +25.0% | 15,000,000 | $14.5M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -10.2% | 13,027,000 | $12.6M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Add +20.0% | 12,000,000 | $12.4M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | New | 10,740,000 | $10.4M |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | New | 10,000,000 | $9.7M |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | New | 10,000,000 | $9.6M |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | Sold out | 9,500,000 | $9.5Mbefore exit |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | Reduce -10.0% | 9,000,000 | $8.9M |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | New | 9,000,000 | $8.7M |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | Reduce -14.3% | 9,000,000 | $8.4M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 4,500,000 | $8.1M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 8,000,000 | $8.0Mbefore exit |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 7,000,000 | $7.9M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | New | 5,000,000 | $7.7M |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | New | 7,000,000 | $7.6M |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | New | 7,000,000 | $6.7M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Reduce -12.5% | 7,000,000 | $6.6M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -28.6% | 5,000,000 | $6.6M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | New | 5,000,000 | $6.0M |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | New | 6,000,000 | $5.8M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | New | 5,000,000 | $5.8M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | New | 5,000,000 | $5.5M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Reduce -35.7% | 4,500,000 | $5.4M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | New | 5,000,000 | $5.3M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | New | 5,000,000 | $5.2M |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | Reduce -10.0% | 4,500,000 | $4.8M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Sold out | 5,000,000 | $4.7Mbefore exit |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | New | 3,000,000 | $4.6M |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | Sold out | 5,000,000 | $4.4Mbefore exit |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | New | 4,000,000 | $4.0M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | New | 4,000,000 | $3.9M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | New | 4,000,000 | $3.6M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 3,000,000 | $3.6M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | New | 2,530,000 | $2.7M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Sold out | 2,500,000 | $2.6Mbefore exit |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Reduce -16.7% | 2,500,000 | $2.5M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | New | 2,500,000 | $2.5M |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | New | 2,000,000 | $2.3M |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Reduce -71.4% | 2,000,000 | $1.9M |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Reduce -66.7% | 2,000,000 | $1.8M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Reduce -65.2% | 1,393,000 | $1.3M |
Showing the first 50 of 51.
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 | 19 | $326.8M | SPMC, ASPN, VSH, RSBY, KORE GROUP HLDGS INC |
| Q1 2026 | 16 | $297.7M | SPMC, RSBY, ASPN, RSSY, VSH |
| Q4 2025 | 17 | $384.6M | SPMC, RSBY, RSSY, VSH, ASPN |
| Q3 2025 | 16 | $522.4M | SPMC, ASPN, RSSY, RSBY, VSH |
| Q2 2025Amended | 22 | $536.8M | SPMC, RSSY, RSBY, ASPN, VSH |
| Q1 2025 | 22 | $361.4M | RSSY, RSBY, ASPN, VSH, TE |
| Q4 2024 | 24 | $573.7M | ASPN, RSSY, QIS, RSBY, VSH |
| Q3 2024 | 24 | $774.9M | ASPN, RSSY, RSBY, QIS, VSH |
| Q2 2024 | 72 | $884.3M | ASPN, RSSY, QIS, VSH, ARES ACQUISITION CORP II |
| Q1 2024 | 77 | $795.1M | ASPN, QIS, VSH, SCRM, ARES ACQUISITION CORP II |