Monaco Asset Management SAM In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Monaco Asset Management SAM reported 69 stock positions worth $264.1 million . Its top holding was Viatris (VTRS) at 8.7% of the portfolio, followed by Patterson-Uti Energy (PTEN, 6.1% ) and Vale SA-SP ADR (VALE, 5.9% ). Compared with Q2 2025, it opened 15 new positions, sold out of 22, added to 23 and reduced 26. The biggest buy was a new position in Vale SA-SP ADR (VALE) and the biggest sale an exit from Barrick Mining (B).
Location Monaco, O9
CIK 0001803593
Portfolio Value $264.1M (Q3 2025) Holdings 69 stocks · $264.1M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 VTRS Viatris Inc. 2,327,163 $23.0M Add +6.3% PTEN Patterson-Uti Energy Inc. 3,107,313 $16.1M Add +1.6% VALE Vale SA-SP ADR 1,425,000 $15.5M New LULU Lululemon Athletica Inc. 69,000 $12.3M New MRVI Maravai Lifesciences Hldgs-A 3,656,337 $10.5M Add +315.0% CPRI Capri Holdings Ltd. 499,644 $10.0M Add +1.9% RCKT Rocket Pharmaceuticals Inc. 2,892,261 $9.4M Add +538.8% BIDU Baidu Inc. - Spon ADR 70,000 $9.2M Reduce -75.2% AA Alcoa Corp. 250,000 $8.2M Add +177.8% IAUX I-80 Gold Corp. 8,442,468 $8.1M Reduce -20.4% SDRL Seadrill Limited 266,047 $8.0M Add +23.7% CYTK Cytokinetics Inc. 120,000 $6.6M Add +182.3% ACLX Arcellx Inc. 78,589 $6.5M New ARVN Arvinas Inc. 710,936 $6.1M Reduce -21.1% TDOC Teladoc Health Inc. 755,000 $5.8M Add +31.3% PPTA Perpetua Resources Corp. 270,249 $5.5M Reduce -74.1% STLA Stellantis NV 591,132 $5.5M Add +162.7% NOV Nov Inc. 375,000 $5.0M New CENX Century Aluminum Company 168,752 $5.0M Reduce -26.6% CSANY Cosan SA -ADR 1,000,000 $4.6M New ASHR Xtrackers Harvest Csi 300 CH 125,000 $4.1M Reduce -71.3% NKTX Nkarta Inc. 1,970,910 $4.1M Add +24.5% HAL Halliburton Co. 165,000 $4.1M Add +65.0% CLF Cleveland-Cliffs Inc. 325,000 $4.0M Reduce -24.4% PRGO Perrigo Co. PLC 175,000 $3.9M Reduce -15.3% SOL Emeren Group Ltd. 2,005,152 $3.8M No change GOSS Gossamer Bio Inc. 1,379,416 $3.6M Reduce -61.1% JD Jd.com Inc.-ADR 100,000 $3.5M Reduce -9.1% BMA Banco Macro SA-ADR 82,700 $3.5M Add +536.1% NVAX Novavax Inc. 400,000 $3.5M Add +73.9% ZM Zoom Communications Inc. 40,000 $3.3M New QDEL Quidelortho Corp. 87,700 $2.6M Add +9.6% MSOS Advisorshares Pure US Cann 530,000 $2.5M Reduce -52.9% QURE Uniqure NV 39,913 $2.3M Reduce -43.0% NE Noble Corp. PLC 80,000 $2.3M Reduce -64.4% BG Bunge Global SA 25,000 $2.0M Add +25.0% MREO Mereo Biopharma Group PL-ADR 945,915 $1.9M Add +139.5% BTG B2GOLD Corp. 376,398 $1.9M Reduce -24.7% DVS Dolly Varden Silver Ltd. 300,600 $1.5M Reduce -1.6% INGN Inogen Inc. 183,242 $1.5M Add +3.2% GRWG Growgeneration Corp. 745,946 $1.4M Reduce -26.6% HRTX Heron Therapeutics Inc. 1,002,476 $1.3M Reduce -7.2% VNDA Vanda Pharmaceuticals Inc. 247,805 $1.2M Reduce -18.8% PLRX Pliant Therapeutics Inc. 822,693 $1.2M Add +17.1% LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV 33,536 $1.2M Reduce -6.9% TALO Talos Energy Inc. 110,000 $1.1M Add +29.4% DVN Devon Energy Corp. 30,000 $1.1M No change TEVA Teva Pharmaceutical-SP ADR 50,000 $1.0M Reduce -50.0% WFRD Weatherford International PL 14,500 $992K Reduce -77.7% PRQR Proqr Therapeutics NV 460,000 $980K No change FATE Fate Therapeutics Inc. 770,000 $970K Add +14.1% TEO Telecom Argentina SA-SP ADR 120,000 $872K New OFIX Orthofix Medical Inc. 58,059 $850K Add +3.0% PSKY Paramount Skydance Class B 42,500 $804K New FET Forum Energy Technologies Inc. 30,000 $801K Reduce -40.0% ALCO Alico Inc. 22,005 $763K No change GT Goodyear Tire & Rubber Co. 100,000 $748K Add +42.9% RUM Rum Group Inc. filed as RUMBLE INC 100,000 $724K New VTYX Ventyx Biosciences Inc. 225,603 $702K Reduce -70.4% PRTA Prothena Corp. PLC 70,000 $683K No change QTTB Q32 Bio Inc. 311,137 $616K Reduce -47.4% TVRD Tvardi Therapeutics Inc. 13,590 $530K New ALGN Align Technology Inc. 4,000 $501K New YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 20,000 $486K New CC The Chemours Co. 30,000 $475K New LXRX Lexicon Pharmaceuticals Inc. 350,000 $473K Reduce -34.2% RTAC Renatus Tactical Acquisiti-A 40,592 $443K Reduce -11.0% GGAL Grupo Financiero Galicia-ADR 15,000 $413K New TDW Tidewater Inc. 5,469 $292K New
Options reported separately and not counted above: SPY puts ($899.3M), SLV calls ($101.7M), QQQ puts ($87.1M), EWZ calls ($52.7M), MSFT puts ($41.4M), COST puts ($39.3M), SMH puts ($34.3M), NVDA puts ($27.1M), LLY puts ($26.7M), AZO puts ($21.5M), XLV puts ($14.1M), AAPL puts ($10.2M), and 3 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $4.5M (not counted above) Security Class Shares / Principal Value Change IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 10,000,000 $4.5M New
Total filed on the 13F, all lines: $268.6M.
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ B Barrick Mining Corp. Sold out 0.00% −10.73 BIDU Baidu Inc. - Spon ADR Reduce -75.2% 3.49% −5.68 PARAA Paramount Global Class B Sold out 0.00% −4.28 ASHR Xtrackers Harvest Csi 300 CH Reduce -71.3% 1.56% −2.98 PPTA Perpetua Resources Corp. Reduce -74.1% 2.07% −2.73 NE Noble Corp. PLC Reduce -64.4% 0.86% −1.41 SAGE Sage Therapeutics Inc. Sold out 0.00% −1.27 NKE Nike Inc. Class B Sold out 0.00% −1.21 LMT Lockheed Martin Corp. Sold out 0.00% −1.14 WFRD Weatherford International PL Reduce -77.7% 0.38% −0.86 MAG Mag Silver Corp. Sold out 0.00% −0.76 VAL Valaris Ltd. Sold out 0.00% −0.72 PRGO Perrigo Co. PLC Reduce -15.3% 1.48% −0.62 DNA Ginkgo Bioworks Holdings Inc. Sold out 0.00% −0.53 ETSY Etsy Inc. Sold out 0.00% −0.47 PAAS Pan American Silver Corp. Sold out 0.00% −0.44 NKTR Nektar Therapeutics Sold out 0.00% −0.43 INTC Intel Corp. Sold out 0.00% −0.42 HRTX Heron Therapeutics Inc. Reduce -7.2% 0.48% −0.37 VTYX Ventyx Biosciences Inc. Reduce -70.4% 0.27% −0.35 SDGR Schrodinger Inc. Sold out 0.00% −0.30 GOSS Gossamer Bio Inc. Reduce -61.1% 1.37% −0.28 BORR Borr Drilling Ltd. Sold out 0.00% −0.26 TEVA Teva Pharmaceutical-SP ADR Reduce -50.0% 0.38% −0.25 LYB Lyondellbasell Indu Class A Sold out 0.00% −0.22 ARVN Arvinas Inc. Reduce -21.1% 2.29% −0.22 CRGX Cargo Therapeutics Inc. Sold out 0.00% −0.22 CYPH Cypherpunk Technologies Inc. Sold out 0.00% −0.12 CTNM Contineum Therapeutics Inc. Class A Sold out 0.00% −0.11 QTTB Q32 Bio Inc. Reduce -47.4% 0.23% −0.10 SGML Sigma Lithium Corp. Sold out 0.00% −0.09 NBR Nabors Industries Ltd. Sold out 0.00% −0.08 TECX Tectonic Therapeutic Inc. Sold out 0.00% −0.08 VNDA Vanda Pharmaceuticals Inc. Reduce -18.8% 0.47% −0.08 ORIC Oric Pharmaceuticals Inc. Sold out 0.00% −0.08 MSOS Advisorshares Pure US Cann Reduce -52.9% 0.96% −0.07 FET Forum Energy Technologies Inc. Reduce -40.0% 0.30% −0.07 RTAC Renatus Tactical Acquisiti-A Reduce -11.0% 0.17% −0.04 JD Jd.com Inc.-ADR Reduce -9.1% 1.32% −0.04 LXRX Lexicon Pharmaceuticals Inc. Reduce -34.2% 0.18% −0.01 BTG B2GOLD Corp. Reduce -24.7% 0.71% +0.02 LKFT Lakefront Biotherapeutic-ADR Reduce -6.9% 0.44% +0.06 GRWG Growgeneration Corp. Reduce -26.6% 0.53% +0.17 DVS Dolly Varden Silver Ltd. Reduce -1.6% 0.57% +0.18 CLF Cleveland-Cliffs Inc. Reduce -24.4% 1.50% +0.26 CENX Century Aluminum Company Reduce -26.6% 1.88% +0.31 QURE Uniqure NV Reduce -43.0% 0.88% +0.51 IAUX I-80 Gold Corp. Reduce -20.4% 3.05% +0.59
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ VALE Vale SA-SP ADR New 5.86% +5.86 LULU Lululemon Athletica Inc. New 4.65% +4.65 MRVI Maravai Lifesciences Hldgs-A Add +315.0% 3.97% +3.17 RCKT Rocket Pharmaceuticals Inc. Add +538.8% 3.57% +3.15 ACLX Arcellx Inc. New 2.44% +2.44 AA Alcoa Corp. Add +177.8% 3.11% +2.11 CYTK Cytokinetics Inc. Add +182.3% 2.50% +1.97 NOV Nov Inc. New 1.88% +1.88 CSANY Cosan SA -ADR New 1.74% +1.74 VTRS Viatris Inc. Add +6.3% 8.72% +1.32 ZM Zoom Communications Inc. New 1.25% +1.25 STLA Stellantis NV Add +162.7% 2.07% +1.21 BMA Banco Macro SA-ADR Add +536.1% 1.32% +0.98 SDRL Seadrill Limited Add +23.7% 3.04% +0.91 HAL Halliburton Co. Add +65.0% 1.54% +0.77 NVAX Novavax Inc. Add +73.9% 1.31% +0.76 NKTX Nkarta Inc. Add +24.5% 1.54% +0.55 CPRI Capri Holdings Ltd. Add +1.9% 3.77% +0.48 MREO Mereo Biopharma Group PL-ADR Add +139.5% 0.74% +0.33 TEO Telecom Argentina SA-SP ADR New 0.33% +0.33 TDOC Teladoc Health Inc. Add +31.3% 2.21% +0.31 PSKY Paramount Skydance Class B New 0.30% +0.30 RUM Rum Group Inc. New 0.27% +0.27 TVRD Tvardi Therapeutics Inc. New 0.20% +0.20 ALGN Align Technology Inc. New 0.19% +0.19 YPF YPF S.A.-Sponsored ADR New 0.18% +0.18 CC The Chemours Co. New 0.18% +0.18 BG Bunge Global SA Add +25.0% 0.77% +0.16 GGAL Grupo Financiero Galicia-ADR New 0.16% +0.16 PLRX Pliant Therapeutics Inc. Add +17.1% 0.46% +0.15 TALO Talos Energy Inc. Add +29.4% 0.40% +0.13 TDW Tidewater Inc. New 0.11% +0.11 QDEL Quidelortho Corp. Add +9.6% 0.98% +0.10 INGN Inogen Inc. Add +3.2% 0.57% +0.09 OFIX Orthofix Medical Inc. Add +3.0% 0.32% +0.08 FATE Fate Therapeutics Inc. Add +14.1% 0.37% +0.08 GT Goodyear Tire & Rubber Co. Add +42.9% 0.28% +0.01 PTEN Patterson-Uti Energy Inc. Add +1.6% 6.10% −0.78
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +575.0% 1,350,000 $899.3M SLV iShares Silver Trust call New 2,400,000 $101.7M QQQ Invesco QQQ Trust Series 1 put Add +480.0% 145,000 $87.1M EWZ iShares MSCI Brazil ETF call Add +1600.0% 1,700,000 $52.7M COST Costco Wholesale Corp. put Add +4.9% 42,500 $39.3M SMH Vaneck Semiconductor ETF put Add +250.0% 105,000 $34.3M NVDA Nvidia Corp. put Add +16.0% 145,000 $27.1M LLY Eli Lilly & Co. put New 35,000 $26.7M AZO AutoZone Inc. put New 5,000 $21.5M LMT Lockheed Martin Corp. put Sold out 45,500 $21.1Mbefore exit XLV SS Health Care Select Sector put New 101,500 $14.1M MA Mastercard Inc. Class A put Sold out 20,000 $11.2Mbefore exit BMO Bank of Montreal put New 75,000 $9.8M ABBV Abbvie Inc. put New 35,000 $8.1M V Visa Inc. Class A put Sold out 10,000 $3.6Mbefore exit NFLX Netflix Inc. put Sold out 2,500 $3.3Mbefore exit PM Philip Morris International put Sold out 15,700 $2.9Mbefore exit CRWV Coreweave Inc. Class A put Sold out 11,000 $1.8Mbefore exit
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 Security Class Change vs Q2 2025 Shares / Principal Value ▼ IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 New 10,000,000 $4.5M
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 35 $261.4M BABA, TDOC, DEO, FISV, SLV Q1 2026 56 $304.7M PTEN, SLV, TDOC, DEO, VTRS Q4 2025 66 $327.9M PTEN, VTRS, DEO, BIDU, TDOC Q3 2025 69 $264.1M VTRS, PTEN, VALE, LULU, MRVI Q2 2025 76 $264.0M B, BIDU, VTRS, PTEN, PPTA Q1 2025 66 $197.6M B, BIDU, VTRS, ASHR, PARAA Q4 2024 67 $224.8M VTRS, BIDU, B, BABA, PARAA Q3 2024 58 $238.9M VTRS, GDXJ, NEM, BIDU, ZM Q2 2024 54 $199.8M NEM, VTRS, ZM, PYPL, BIDU Q1 2024 49 $225.5M VTRS, AA, TEVA, GDX, ZM