Kim, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Kim, LLC reported 17 stock positions worth $384.6 million. Its top holding was Sound Point Meridian Capital (SPMC) at 38.6% of the portfolio, followed by Return STKD BND & Fut YD ETF (RSBY, 15.0%) and Return Stacked US S&F YD ETF (RSSY, 14.1%). Compared with Q3 2025, it opened 1 new position, added to 2 and reduced 4. The biggest buy was Sound Point Meridian Capital (SPMC, shares +0%) and the biggest sale Return Stacked US S&F YD ETF (RSSY, shares −31%).
- Most Recent 13F
- Q2 2026
- Location
- WICHITA, KS
- CIK
- 0001888968
- Portfolio Value
- $384.6M (Q4 2025)
- SEC Filing
- 0001888968-26-000001 ↗ filed Feb 2, 2026
Holdings Value
Holdings 17 stocks · $384.6M
| SPMC Sound Point Meridian Capital | 38.58% | 10,790,928 | $148.4M | Add +0.1% |
| RSBY Return STKD BND & Fut YD ETF | 15.02% | 3,755,000 | $57.8M | Reduce -24.9% |
| RSSY Return Stacked US S&F YD ETF | 14.13% | 2,830,000 | $54.3M | Reduce -30.6% |
| VSH Vishay Intertechnology Inc. | 11.67% | 3,096,454 | $44.9M | Reduce -2.0% |
| ASPN Aspen Aerogels Inc. | 9.04% | 12,280,426 | $34.8M | No change |
| TE T1 Energy Inc. | 2.26% | 1,300,000 | $8.7M | Reduce -81.7% |
| KORE GROUP HLDGS INC | 2.19% | 2,000,000 | $8.4M | No change |
| CHYM Chime Financial Inc. Class A | 1.89% | 289,032 | $7.3M | New |
| SMRT Smartrent Inc. | 1.40% | 2,656,173 | $5.4M | No change |
| NZF Nuveen Municipal Credit Inc. | 0.82% | 250,000 | $3.1M | No change |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.74% | 243,700 | $2.8M | No change |
| MMLP Martin Midstream Partners LP | 0.64% | 949,957 | $2.5M | Add +87.6% |
| MYI BlackRock Muniyield QLTY III | 0.58% | 204,185 | $2.2M | No change |
| FIP Ftai Infrastructure Inc. | 0.35% | 293,901 | $1.4M | No change |
| XMYDX BlackRock Muniyield Fund | 0.32% | 117,981 | $1.2M | No change |
| NAD Nuveen Quality Municipal Inc. | 0.31% | 100,000 | $1.2M | No change |
| MHD BlackRock Muniholdings Fund | 0.07% | 22,805 | $268K | No change |
Options reported separately and not counted above: SPY puts ($272.8M), PLTR puts ($88.9M), MMLP calls ($112K).
Other holdings (56): bonds, preferreds, convertibles and warrants · $488.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 27,000,000 | $27.0M | Add +316.0% |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 26,126,000 | $25.7M | New |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 25,231,000 | $25.2M | No change |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 25,000,000 | $24.7M | Add +150.0% |
| MITEK SYSTEMS INC (MITK 0.75 02/01/26) | NOTE 0.750% 2/0 · principal | 20,000,000 | $19.8M | No change |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 14,800,000 | $19.2M | Add +48.0% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 19,055,000 | $18.9M | New |
| CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28) | NOTE 3.875% 9/1 · principal | 15,000,000 | $17.8M | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 15,384,000 | $16.1M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 15,000,000 | $15.6M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 15,000,000 | $15.1M | Add +134.4% |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 15,000,000 | $14.9M | No change |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 10,000,000 | $14.9M | Add +42.9% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 12,000,000 | $13.7M | Add +140.0% |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 7,500,000 | $11.2M | Add +66.7% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 9,000,000 | $11.0M | Reduce -21.7% |
| SNAP INC (SNAP 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 10,000,000 | $9.7M | No change |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 10,000,000 | $9.5M | New |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 9,000,000 | $8.6M | No change |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 8,000,000 | $8.2M | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 7,500,000 | $8.0M | New |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 7,500,000 | $7.8M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 7,500,000 | $7.5M | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 8,000,000 | $7.2M | New |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 7,000,000 | $7.1M | Reduce -30.0% |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 6,867,000 | $6.9M | Add +14.4% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,500,000 | $6.9M | Reduce -70.0% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 6,000,000 | $6.6M | New |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 6,665,000 | $6.5M | Reduce -27.3% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 6,000,000 | $6.2M | Add +100.0% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 5,382,000 | $6.1M | No change |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 5,000,000 | $6.0M | Add +100.0% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 6,000,000 | $5.8M | Reduce -36.8% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 5,658,000 | $5.4M | No change |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 5,000,000 | $5.4M | New |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 5,000,000 | $5.0M | Reduce -37.5% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 5,000,000 | $5.0M | Add +100.0% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 5,000,000 | $4.8M | New |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | 4,000,000 | $4.6M | New |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 3,000,000 | $4.6M | Reduce -45.5% |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 4,000,000 | $3.9M | No change |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 3,689,000 | $3.7M | Add +23.0% |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 4,000,000 | $3.7M | No change |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 2,500,000 | $3.0M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 2,500,000 | $2.5M | No change |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 2,500,000 | $2.5M | New |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 2,500,000 | $2.5M | Reduce -72.2% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 2,500,000 | $2.5M | No change |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 2,500,000 | $2.5M | No change |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 2,500,000 | $2.3M | No change |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 2,000,000 | $2.1M | Reduce -33.3% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 2,000,000 | $1.9M | No change |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 2,000,000 | $1.9M | New |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 2,000,000 | $1.9M | No change |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 1,500,000 | $1.5M | No change |
| OUSTZ Ouster Inc. -CW25 | *W EXP 03/11/202 | 274,200 | $17K | No change |
Total filed on the 13F, all lines: $873.2M.
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +33.3% | 400,000 | $272.8M |
| PLTR Palantir Technologies Inc. Class A | put | New | 500,000 | $88.9M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 700,000 | $56.8Mbefore exit |
| MMLP Martin Midstream Partners LP | call | Reduce -58.5% | 43,100 | $112K |
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
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Add +316.0% | 27,000,000 | $27.0M |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | New | 26,126,000 | $25.7M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Add +150.0% | 25,000,000 | $24.7M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +48.0% | 14,800,000 | $19.2M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | New | 19,055,000 | $18.9M |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | New | 15,384,000 | $16.1M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | New | 15,000,000 | $15.6M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +134.4% | 15,000,000 | $15.1M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Add +42.9% | 10,000,000 | $14.9M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Add +140.0% | 12,000,000 | $13.7M |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | Add +66.7% | 7,500,000 | $11.2M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Reduce -21.7% | 9,000,000 | $11.0M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Sold out | 6,500,000 | $9.8Mbefore exit |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | New | 10,000,000 | $9.5M |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | Sold out | 8,159,000 | $8.1Mbefore exit |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | New | 7,500,000 | $8.0M |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | Sold out | 7,000,000 | $7.5Mbefore exit |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | New | 8,000,000 | $7.2M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Reduce -30.0% | 7,000,000 | $7.1M |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Add +14.4% | 6,867,000 | $6.9M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -70.0% | 1,500,000 | $6.9M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | New | 6,000,000 | $6.6M |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | Reduce -27.3% | 6,665,000 | $6.5M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Add +100.0% | 6,000,000 | $6.2M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Add +100.0% | 5,000,000 | $6.0M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | Reduce -36.8% | 6,000,000 | $5.8M |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | New | 5,000,000 | $5.4M |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -37.5% | 5,000,000 | $5.0M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Add +100.0% | 5,000,000 | $5.0M |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | Sold out | 4,500,000 | $4.9Mbefore exit |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | New | 5,000,000 | $4.8M |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | New | 4,000,000 | $4.6M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | Reduce -45.5% | 3,000,000 | $4.6M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Add +23.0% | 3,689,000 | $3.7M |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | Sold out | 2,500,000 | $3.5Mbefore exit |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Sold out | 2,776,000 | $2.9Mbefore exit |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | New | 2,500,000 | $2.5M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 2,500,000 | $2.5Mbefore exit |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | Reduce -72.2% | 2,500,000 | $2.5M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | Reduce -33.3% | 2,000,000 | $2.1M |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | Sold out | 2,000,000 | $2.0Mbefore exit |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | New | 2,000,000 | $1.9M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Sold out | 1,393,000 | $1.3Mbefore exit |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Sold out | 1,030,000 | $1.0Mbefore 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 | 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 |