Lombard Odier Asset Management (USA) Corp
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Lombard Odier Asset Management (USA) Corp reported 332 stock positions worth $374.8 million. Its top holding was Silence Therapeutics PLC-ADR (SLN) at 1.9% of the portfolio, followed by Republic Services (RSG, 1.9%) and Verizon Communications (VZ, 1.3%). Compared with Q2 2025, it opened 115 new positions, sold out of 65, added to 146 and reduced 64. The biggest buy was a new position in iShares Silver Trust (SLV) and the biggest sale Nexxen International (NEXN, shares −60%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001491719
- Portfolio Value
- $374.8M (Q3 2025)
- SEC Filing
- 0000908834-25-000342 ↗ filed Nov 14, 2025
Holdings Value
Holdings 332 stocks · $374.8M
| SLN Silence Therapeutics PLC-ADR | 1.90% | 1,844,948 | $7.1M | Reduce -0.3% |
| RSG Republic Services Inc. | 1.86% | 30,441 | $7.0M | Reduce -10.2% |
| VZ Verizon Communications Inc. | 1.34% | 114,000 | $5.0M | Reduce -5.9% |
| GOOGL Alphabet Inc. Class A | 1.27% | 19,576 | $4.8M | Add +23.9% |
| RBC RBC Bearings Inc. | 1.25% | 12,037 | $4.7M | Add +20.8% |
| TDG Transdigm Group Inc. | 1.22% | 3,477 | $4.6M | Add +16.5% |
| INTC Intel Corp. | 1.21% | 135,503 | $4.5M | Add +40.2% |
| APG Api Group Corp. | 1.15% | 124,972 | $4.3M | Add +43.5% |
| NVDA Nvidia Corp. | 1.11% | 22,254 | $4.2M | Add +33.3% |
| LAUR Laureate Education Inc. | 1.10% | 130,795 | $4.1M | Reduce -7.7% |
| AGO Assured Guaranty Ltd. | 1.07% | 47,480 | $4.0M | Add +18.3% |
| CZR Caesars Entertainment Inc. | 1.06% | 147,284 | $4.0M | Add +3.5% |
| SLV iShares Silver Trust | 1.02% | 90,000 | $3.8M | New |
| BKR Baker Hughes Co. | 0.99% | 76,500 | $3.7M | Add +1.8% |
| COR Cencora Inc. | 0.98% | 11,808 | $3.7M | Add +12.1% |
| RACE Ferrari NV | 0.97% | 7,488 | $3.6M | Add +12.1% |
| SNDK Sandisk Corp. | 0.94% | 31,334 | $3.5M | Reduce -13.6% |
| ITRI Itron Inc. | 0.93% | 28,083 | $3.5M | Add +18.4% |
| ORLY O'reilly Automotive Inc. | 0.93% | 32,307 | $3.5M | Reduce -10.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.91% | 12,222 | $3.4M | Reduce -2.0% |
| CHRW C.H. Robinson Worldwide Inc. | 0.87% | 24,554 | $3.3M | Add +69.9% |
| TMHC Taylor Morrison Home Corp. | 0.87% | 49,161 | $3.2M | Add +6.7% |
| BLDR Builders Firstsource Inc. | 0.85% | 26,278 | $3.2M | Add +140.6% |
| DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN | 0.83% | 515,000 | $3.1M | Reduce -26.4% |
| QXO Qxo Inc. | 0.82% | 161,837 | $3.1M | Add +6.2% |
| LPX Louisiana-Pacific Corp. | 0.81% | 34,290 | $3.0M | Add +302.2% |
| MSI Motorola Solutions Inc. | 0.80% | 6,582 | $3.0M | Add +13.3% |
| GLW Corning Inc. | 0.80% | 36,607 | $3.0M | New |
| HWM Howmet Aerospace Inc. | 0.79% | 15,006 | $2.9M | Reduce -6.8% |
| NEXN Nexxen International Ltd. | 0.79% | 427,746 | $2.9M | Reduce -59.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.78% | 4,383 | $2.9M | Add +43.4% |
| MCK McKesson Corp. | 0.77% | 3,751 | $2.9M | Add +21.9% |
| RTX RTX Corp. | 0.77% | 17,174 | $2.9M | Add +74.7% |
| AER Aercap Holdings NV | 0.77% | 23,717 | $2.9M | Add +50.9% |
| AZO AutoZone Inc. | 0.74% | 648 | $2.8M | Reduce -24.0% |
| REVG Rev Group Inc. | 0.73% | 48,325 | $2.7M | Add +1.5% |
| BSX Boston Scientific Corp. | 0.72% | 27,824 | $2.7M | New |
| MSFT Microsoft Corp. | 0.72% | 5,235 | $2.7M | Add +11.9% |
| MRVL Marvell Technology Inc. | 0.72% | 32,032 | $2.7M | Add +60.5% |
| IWM iShares Russell 2000 ETF | 0.71% | 10,967 | $2.7M | Add +26.6% |
| XOP SS SPDR S&P Og Exp & Prod | 0.71% | 20,000 | $2.6M | Reduce -31.0% |
| APTV Aptiv PLC | 0.69% | 29,900 | $2.6M | Reduce -34.6% |
| NBR Nabors Industries Ltd. | 0.68% | 62,000 | $2.5M | Reduce -31.9% |
| ORA Ormat Technologies Inc. | 0.67% | 26,010 | $2.5M | New |
| CLF Cleveland-Cliffs Inc. | 0.67% | 205,000 | $2.5M | Reduce -40.6% |
| UNH Unitedhealth Group Inc. | 0.66% | 7,134 | $2.5M | New |
| LUV Southwest Airlines Co. | 0.64% | 74,854 | $2.4M | Add +107.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.64% | 7,688 | $2.4M | Reduce -19.6% |
| TAC Transalta Corp. | 0.62% | 171,000 | $2.3M | New |
| CLMT Calumet Inc. | 0.62% | 127,500 | $2.3M | New |
| PHM Pultegroup Inc. | 0.62% | 17,480 | $2.3M | Add +74.8% |
| GM General Motors Co. | 0.61% | 37,385 | $2.3M | New |
| BRO Brown & Brown Inc. | 0.61% | 24,231 | $2.3M | Reduce -46.8% |
| UEC Uranium Energy Corp. | 0.60% | 169,550 | $2.3M | New |
| CENX Century Aluminum Company | 0.60% | 76,500 | $2.2M | Add +26.6% |
| PGR Progressive Corp. | 0.59% | 9,029 | $2.2M | Reduce -20.8% |
| XPO Xpo Inc. | 0.59% | 17,133 | $2.2M | Add +81.7% |
| MHK Mohawk Industries Inc. | 0.59% | 17,011 | $2.2M | Add +23.6% |
| PRGO Perrigo Co. PLC | 0.58% | 98,106 | $2.2M | Add +25.7% |
| FSLR First Solar Inc. | 0.57% | 9,754 | $2.2M | Reduce -19.3% |
| CCJ Cameco Corp. | 0.57% | 25,500 | $2.1M | Add +26.6% |
| EXE Expand Energy Corp. | 0.57% | 19,959 | $2.1M | Add +73.2% |
| BIDU Baidu Inc. - Spon ADR | 0.57% | 16,077 | $2.1M | New |
| BE Bloom Energy Corp. Class A | 0.56% | 25,000 | $2.1M | New |
| BMI Badger Meter Inc. | 0.55% | 11,475 | $2.0M | Reduce -58.7% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 0.55% | 53,280 | $2.0M | Add +14.5% |
| COF Capital One Financial Corp. | 0.54% | 9,536 | $2.0M | Add +8.9% |
| WPM Wheaton Precious Metals Corp. | 0.54% | 18,063 | $2.0M | Reduce -37.7% |
| MUR Murphy Oil Corp. | 0.54% | 71,000 | $2.0M | Reduce -20.2% |
| OSIS Osi Systems Inc. | 0.54% | 8,077 | $2.0M | Add +65.1% |
| FCX Freeport-McMoran Inc. | 0.53% | 51,000 | $2.0M | Add +5.5% |
| FLUT Flutter Entertainment PLC-Di | 0.53% | 7,847 | $2.0M | Add +8.6% |
| NXE Nexgen Energy Ltd. | 0.52% | 216,750 | $1.9M | Reduce -2.1% |
| TLN Talen Energy Corp. | 0.51% | 4,526 | $1.9M | Reduce -53.3% |
| PSN Parsons Corp. | 0.51% | 23,162 | $1.9M | New |
| CRS Carpenter Technology | 0.51% | 7,715 | $1.9M | Add +27.8% |
| DAR Darling Ingredients Inc. | 0.49% | 59,500 | $1.8M | Reduce -8.8% |
| SNPS Synopsys Inc. | 0.49% | 3,702 | $1.8M | New |
| OPCH Option Care Health Inc. | 0.48% | 65,437 | $1.8M | Add +28.8% |
| CRC California Resources Corp. | 0.48% | 34,000 | $1.8M | New |
| PPTA Perpetua Resources Corp. | 0.48% | 89,250 | $1.8M | New |
| PRM Perimeter Solutions Inc. | 0.48% | 80,005 | $1.8M | Add +72.8% |
| PRMB Primo Brands Corp. | 0.47% | 79,410 | $1.8M | Add +1.5% |
| TRI Thomson Reuters Corp. | 0.46% | 11,102 | $1.7M | Reduce -39.9% |
| MEOH Methanex Corp. | 0.45% | 42,500 | $1.7M | Reduce -21.8% |
| TSLA Tesla Inc. | 0.45% | 3,791 | $1.7M | New |
| POWL Powell Industries Inc. | 0.44% | 5,452 | $1.7M | Reduce -45.9% |
| ACA Arcosa Inc. | 0.42% | 17,000 | $1.6M | New |
| WFRD Weatherford International PL | 0.42% | 23,000 | $1.6M | Reduce -42.7% |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.39% | 19,716 | $1.5M | New |
| CNNE Cannae Holdings Inc. | 0.38% | 76,956 | $1.4M | Add +14.5% |
| HAL Halliburton Co. | 0.37% | 56,877 | $1.4M | Reduce -6.1% |
| CCL Carnival Corp. | 0.37% | 47,852 | $1.4M | Add +18.9% |
| DRVN Driven Brands Holdings Inc. | 0.37% | 85,829 | $1.4M | Add +14.9% |
| BABA Alibaba Group Holding-SP ADR | 0.36% | 7,605 | $1.4M | Reduce -5.8% |
| GFF Griffon Corp. | 0.36% | 17,571 | $1.3M | Add +60.0% |
| SIMO Silicon Motion Technol-ADR | 0.35% | 13,965 | $1.3M | Reduce -51.8% |
| ANET Arista Networks Inc. | 0.35% | 9,074 | $1.3M | New |
| WTTR Select Water Solutions Inc. | 0.34% | 118,433 | $1.3M | Add +70.5% |
| AMZN Amazon.com Inc. | 0.34% | 5,742 | $1.3M | Add +26.9% |
Options reported separately and not counted above: SPY puts ($283.7M), AAL puts ($64.7M), CAR puts ($55.4M), XOP puts ($52.9M), GDX puts ($45.8M), TLT puts ($37.3M), SPY calls ($33.3M), RIVN puts ($32.3M), PBF puts ($28.7M), CMCSA calls ($23.6M), PFE calls ($22.9M), MRK calls ($21.8M), and 66 more.
Other holdings (5): bonds, preferreds, convertibles and warrants · $67.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | 14,000,000 | $22.1M | Reduce -30.0% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 15,000,000 | $15.6M | No change |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 14,500,000 | $14.9M | No change |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 14,000,000 | $9.0M | No change |
| UNITI GROUP INC (UNIT 7.5 12/01/27) | NOTE 7.500%12/0 · principal | 5,255,000 | $5.7M | New |
Total filed on the 13F, all lines: $442.1M.
Portfolio Sells Q2 2025 → Q3 2025
| NEXN Nexxen International Ltd. | Reduce -59.9% | 0.79% | −1.72 |
| BMI Badger Meter Inc. | Reduce -58.7% | 0.55% | −1.56 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −1.33 |
| KR Kroger Co. | Sold out | 0.00% | −1.07 |
| WSO Watsco Inc. | Reduce -84.5% | 0.14% | −1.02 |
| BRO Brown & Brown Inc. | Reduce -46.8% | 0.61% | −0.96 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.90 |
| RSG Republic Services Inc. | Reduce -10.2% | 1.86% | −0.73 |
| TRI Thomson Reuters Corp. | Reduce -39.9% | 0.46% | −0.69 |
| HEI Heico Corp. | Reduce -62.5% | 0.30% | −0.64 |
| MBLY Mobileye Global Inc. Class A | Reduce -83.8% | 0.08% | −0.62 |
| KEX Kirby Corp. | Sold out | 0.00% | −0.59 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.58 |
| VST Vistra Corp. | Sold out | 0.00% | −0.58 |
| GSM Ferroglobe PLC | Sold out | 0.00% | −0.57 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.56 |
| SLN Silence Therapeutics PLC-ADR | Reduce -0.3% | 1.90% | −0.52 |
| GLNG Golar LNG Ltd. | Sold out | 0.00% | −0.51 |
| LB Landbridge Co. LLC-A | Sold out | 0.00% | −0.46 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.44 |
| XOP SS SPDR S&P Og Exp & Prod | Reduce -31.0% | 0.71% | −0.43 |
| ALB Albemarle Corp. | Sold out | 0.00% | −0.40 |
| TECK Teck Resources Ltd.-CLS B | Sold out | 0.00% | −0.38 |
| TLN Talen Energy Corp. | Reduce -53.3% | 0.51% | −0.36 |
| PGR Progressive Corp. | Reduce -20.8% | 0.59% | −0.35 |
| PCT Purecycle Technologies Inc. | Reduce -56.2% | 0.20% | −0.34 |
| SIMO Silicon Motion Technol-ADR | Reduce -51.8% | 0.35% | −0.32 |
| AJG Arthur J Gallagher & Co. | Reduce -19.6% | 0.64% | −0.31 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.30 |
| VZ Verizon Communications Inc. | Reduce -5.9% | 1.34% | −0.29 |
| APTV Aptiv PLC | Reduce -34.6% | 0.69% | −0.28 |
| DAR Darling Ingredients Inc. | Reduce -8.8% | 0.49% | −0.28 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −0.27 |
| WPM Wheaton Precious Metals Corp. | Reduce -37.7% | 0.54% | −0.27 |
| APD Air Products & Chemicals Inc. | Reduce -55.0% | 0.16% | −0.26 |
| RKLB Rocket Lab Corp. | Reduce -56.8% | 0.24% | −0.25 |
| AZO AutoZone Inc. | Reduce -24.0% | 0.74% | −0.24 |
| KMX Carmax Inc. | Sold out | 0.00% | −0.22 |
| POWL Powell Industries Inc. | Reduce -45.9% | 0.44% | −0.21 |
| WFRD Weatherford International PL | Reduce -42.7% | 0.42% | −0.21 |
| NSC Norfolk Southern Corp. | Sold out | 0.00% | −0.20 |
| TTWO Take-Two Interactive Softwre | Reduce -73.0% | 0.06% | −0.19 |
| CLF Cleveland-Cliffs Inc. | Reduce -40.6% | 0.67% | −0.15 |
| HWM Howmet Aerospace Inc. | Reduce -6.8% | 0.79% | −0.14 |
| GPRE Green Plains Inc. | Reduce -51.0% | 0.23% | −0.14 |
| RAMP Liveramp Holdings Inc. | Sold out | 0.00% | −0.14 |
| OMC Omnicom Group | Sold out | 0.00% | −0.13 |
| MATX Matson Inc. | Reduce -32.6% | 0.14% | −0.13 |
| MAN Manpowergroup Inc. | Sold out | 0.00% | −0.13 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −0.13 |
Portfolio Buys Q2 2025 → Q3 2025
| SLV iShares Silver Trust | New | 1.02% | +1.02 |
| GLW Corning Inc. | New | 0.80% | +0.80 |
| BSX Boston Scientific Corp. | New | 0.72% | +0.72 |
| ORA Ormat Technologies Inc. | New | 0.67% | +0.67 |
| UNH Unitedhealth Group Inc. | New | 0.66% | +0.66 |
| TAC Transalta Corp. | New | 0.62% | +0.62 |
| CLMT Calumet Inc. | New | 0.62% | +0.62 |
| GM General Motors Co. | New | 0.61% | +0.61 |
| UEC Uranium Energy Corp. | New | 0.60% | +0.60 |
| LPX Louisiana-Pacific Corp. | Add +302.2% | 0.81% | +0.59 |
| BIDU Baidu Inc. - Spon ADR | New | 0.57% | +0.57 |
| BE Bloom Energy Corp. Class A | New | 0.56% | +0.56 |
| INTC Intel Corp. | Add +40.2% | 1.21% | +0.54 |
| PSN Parsons Corp. | New | 0.51% | +0.51 |
| SNPS Synopsys Inc. | New | 0.49% | +0.49 |
| CRC California Resources Corp. | New | 0.48% | +0.48 |
| PPTA Perpetua Resources Corp. | New | 0.48% | +0.48 |
| BLDR Builders Firstsource Inc. | Add +140.6% | 0.85% | +0.45 |
| TSLA Tesla Inc. | New | 0.45% | +0.45 |
| CHRW C.H. Robinson Worldwide Inc. | Add +69.9% | 0.87% | +0.44 |
| ACA Arcosa Inc. | New | 0.42% | +0.42 |
| GOOGL Alphabet Inc. Class A | Add +23.9% | 1.27% | +0.41 |
| NXT Nextpower Inc. | New | 0.39% | +0.39 |
| ANET Arista Networks Inc. | New | 0.35% | +0.35 |
| ALK Alaska Air Group Inc. | New | 0.33% | +0.33 |
| XYL Xylem Inc. | New | 0.33% | +0.33 |
| RTX RTX Corp. | Add +74.7% | 0.77% | +0.32 |
| NATL NCR Atleos Corp. | New | 0.31% | +0.31 |
| DECK Deckers Outdoor Corp. | New | 0.30% | +0.30 |
| RUN Sunrun Inc. | New | 0.29% | +0.29 |
| GD General Dynamics Corp. | New | 0.29% | +0.29 |
| NVDA Nvidia Corp. | Add +33.3% | 1.11% | +0.29 |
| PHM Pultegroup Inc. | Add +74.8% | 0.62% | +0.29 |
| CASY Casey's General Stores Inc. | New | 0.29% | +0.29 |
| PRM Perimeter Solutions Inc. | Add +72.8% | 0.48% | +0.28 |
| LUV Southwest Airlines Co. | Add +107.3% | 0.64% | +0.27 |
| CENX Century Aluminum Company | Add +26.6% | 0.60% | +0.26 |
| STX Seagate Technology Holdings | New | 0.25% | +0.25 |
| MRVL Marvell Technology Inc. | Add +60.5% | 0.72% | +0.24 |
| APG Api Group Corp. | Add +43.5% | 1.15% | +0.23 |
| XPO Xpo Inc. | Add +81.7% | 0.59% | +0.22 |
| JHX James Hardie Ind PLC | New | 0.20% | +0.20 |
| CSX CSX Corp. | New | 0.20% | +0.20 |
| OSIS Osi Systems Inc. | Add +65.1% | 0.54% | +0.20 |
| AER Aercap Holdings NV | Add +50.9% | 0.77% | +0.20 |
| GIS General Mills Inc. | Add +235.4% | 0.30% | +0.19 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +43.4% | 0.78% | +0.19 |
| PATH Uipath Inc. Class A | New | 0.15% | +0.15 |
| WTTR Select Water Solutions Inc. | Add +70.5% | 0.34% | +0.15 |
| FWRD Forward Air Corp. | Add +185.1% | 0.24% | +0.15 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +127.5% | 425,900 | $283.7M |
| AAL American Airlines Group Inc. | put | Reduce -30.3% | 5,760,100 | $64.7M |
| CAR Avis Budget Group Inc. | put | Reduce -5.7% | 345,000 | $55.4M |
| TLT iShares 20+ Year Treasury BD | put | Reduce -17.4% | 417,000 | $37.3M |
| NCLH Norwegian Cruise Line Holdin | put | Sold out | 1,687,500 | $34.2Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | call | New | 50,000 | $33.3M |
| RIVN Rivian Automotive Inc. Class A | put | Add +1.9% | 2,200,000 | $32.3M |
| HLF Herbalife Ltd. | put | Sold out | 2,800,000 | $24.1Mbefore exit |
| MRK Merck & Co. Inc. | call | Add +33.3% | 260,000 | $21.8M |
| UAL United Airlines Holdings Inc. | put | Sold out | 267,000 | $21.3Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | New | 30,000 | $18.0M |
| IWM iShares Russell 2000 ETF | put | Add +2300.0% | 60,000 | $14.5M |
| KSS Kohls Corp. | put | Reduce -13.9% | 930,000 | $14.3M |
| NEM Newmont Corp. | put | Add +50.0% | 150,000 | $12.6M |
| BHC Bausch Health Cos Inc. | put | Reduce -66.0% | 1,716,000 | $11.1M |
| BAC Bank of America Corp. | put | New | 200,000 | $10.3M |
| NCLH Norwegian Cruise Line Holdin | call | Reduce -50.0% | 400,000 | $9.9M |
| CSCO Cisco Systems Inc. | call | Reduce -33.3% | 100,000 | $6.8M |
| FSLR First Solar Inc. | call | Sold out | 32,200 | $5.3Mbefore exit |
| RIVN Rivian Automotive Inc. Class A | call | Reduce -14.3% | 300,000 | $4.4M |
| DAL Delta Air Lines Inc. | call | Reduce -30.0% | 70,000 | $4.0M |
| INTC Intel Corp. | call | New | 100,000 | $3.4M |
| TLT iShares 20+ Year Treasury BD | call | New | 30,000 | $2.7M |
| MEOH Methanex Corp. | call | Sold out | 80,500 | $2.7Mbefore exit |
| MPT Medical Properties Trust Inc. | put | New | 500,000 | $2.5M |
| ACN Accenture PLC Class A | put | New | 10,000 | $2.5M |
| RUN Sunrun Inc. | put | Sold out | 281,800 | $2.3Mbefore exit |
| WHR Whirlpool Corp. | put | Sold out | 20,000 | $2.0Mbefore exit |
| CZR Caesars Entertainment Inc. | call | Add +56.4% | 74,300 | $2.0M |
| BE Bloom Energy Corp. Class A | call | New | 20,000 | $1.7M |
| CRWV Coreweave Inc. Class A | put | Add +140.0% | 12,000 | $1.6M |
| MBLY Mobileye Global Inc. Class A | call | Sold out | 80,500 | $1.4Mbefore exit |
| CSCO Cisco Systems Inc. | put | New | 20,000 | $1.4M |
| XRX Xerox Holdings Corp. | put | Reduce -75.5% | 350,000 | $1.3M |
| MSTR Strategy Inc. | call | Reduce -50.0% | 3,800 | $1.2M |
| PLUG Plug Power Inc. | call | Sold out | 805,500 | $1.2Mbefore exit |
| NBIS Nebius Group NV | put | New | 10,500 | $1.2M |
| CCL Carnival Corp. | call | Add +200.0% | 30,000 | $867K |
| CLF Cleveland-Cliffs Inc. | put | New | 70,000 | $854K |
| MUR Murphy Oil Corp. | put | New | 30,000 | $852K |
| ENPH Enphase Energy Inc. | put | Sold out | 20,100 | $797Kbefore exit |
| CZR Caesars Entertainment Inc. | put | Sold out | 25,000 | $710Kbefore exit |
| UEC Uranium Energy Corp. | put | New | 52,500 | $700K |
| NBR Nabors Industries Ltd. | call | Sold out | 12,500 | $350Kbefore exit |
| PRMB Primo Brands Corp. | call | New | 15,000 | $332K |
| ALIT Alight Inc. Class A | call | Add +65.9% | 100,700 | $328K |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -81.3% | 1,500 | $270K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| STRATEGY INC (MSTR 0.875 03/15/31) | NOTE 0.875% 3/1 · principal | Reduce -30.0% | 14,000,000 | $22.1M |
| UNITI GROUP INC (UNIT 7.5 12/01/27) | NOTE 7.500%12/0 · principal | New | 5,255,000 | $5.7M |
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 | 73 | $72.0M | AAPL, NEXN, CZR, CLF, DCH |
| Q1 2026 | 192 | $132.6M | CZR, AAPL, GOOGL, DCH, CLF |
| Q4 2025 | 146 | $185.9M | GOOGL, VZ, TLN, AAPL, CZR |
| Q3 2025 | 332 | $374.8M | SLN, RSG, VZ, GOOGL, RBC |
| Q2 2025 | 282 | $322.5M | RSG, NEXN, SLN, BMI, VZ |
| Q1 2025 | 129 | $239.1M | NEXN, NEM, WM, RSG, ORLY |
| Q4 2024 | 208 | $229.3M | XLE, SLN, GDX, VZ, EXPE |
| Q3 2024 | 180 | $231.3M | SLN, OPCH, VZ, GDX, AGO |
| Q2 2024 | 170 | $227.3M | SLN, Z, AD, OPCH, VZ |
| Q1 2024 | 218 | $676.7M | SPY, TLT, SLN, Z, AAPL |