One William Street Capital Management, L.P. In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), One William Street Capital Management, L.P. reported 11 stock positions worth $52.0 million . Its top holding was Invesco Senior Loan ETF (BKLN) at 28.4% of the portfolio, followed by TPG Re Finance Trust (TRTX, 16.1% ) and Vanguard Int-Term Corporate (VCIT, 11.4% ). Compared with Q4 2025, it opened 8 new positions, sold out of 3 and added to 1. The biggest buy was a new position in Invesco Senior Loan ETF (BKLN) and the biggest sale an exit from Invesco S&P 500 Equal Weight (RSP).
Location New York, NY
CIK 0001534300
Portfolio Value $52.0M (Q1 2026) Holdings 11 stocks · $52.0M 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 Q4 2025 BKLN Invesco Senior Loan ETF 725,000 $14.8M New TRTX TPG Re Finance Trust Inc. 1,070,000 $8.4M Add +124.3% VCIT Vanguard Int-Term Corporate 71,700 $5.9M New FLG Flagstar Bank NA 400,000 $5.3M No change SPY SS SPDR S&P 500 ETF Trust-US 7,500 $4.9M New CUZ Cousins Properties Inc. 200,500 $4.5M New RKT Rocket Cos Inc. Class A 158,337 $2.3M New ARI Apollo Commercial Real Estat 200,000 $2.1M New STWD Starwood Property Trust Inc. 114,000 $2.0M New BXMT Blackstone Mortgage Tru Class A 100,000 $1.9M New NFE New Fortress Energy Inc. 42,564 $25K No change
Options reported separately and not counted above: HYG puts ($1.0B), BKLN calls ($40.8M), HYG calls ($39.8M), SPY puts ($16.3M), IWM puts ($10.5M).
Portfolio Sells Q4 2025 → Q1 2026 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 Q4 2025 % Of Portfolio Change To Portfolio ▲ RSP Invesco S&P 500 Equal Weight Sold out 0.00% −67.29 HYG Ishr Ibx Usd Hiyld CB ETF-Ui Sold out 0.00% −9.44 GSBD Goldman Sachs BDC Inc. Sold out 0.00% −1.74
Portfolio Buys Q4 2025 → Q1 2026 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 Q4 2025 % Of Portfolio Change To Portfolio ▼ BKLN Invesco Senior Loan ETF New 28.44% +28.44 VCIT Vanguard Int-Term Corporate New 11.40% +11.40 SPY SS SPDR S&P 500 ETF Trust-US New 9.37% +9.37 CUZ Cousins Properties Inc. New 8.70% +8.70 TRTX TPG Re Finance Trust Inc. Add +124.3% 16.06% +6.44 RKT Rocket Cos Inc. Class A New 4.34% +4.34 ARI Apollo Commercial Real Estat New 4.06% +4.06 STWD Starwood Property Trust Inc. New 3.77% +3.77 BXMT Blackstone Mortgage Tru Class A New 3.68% +3.68
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +48.6% 12,815,900 $1.0B BKLN Invesco Senior Loan ETF call New 2,000,000 $40.8M HYG Ishr Ibx Usd Hiyld CB ETF-Ui call New 500,000 $39.8M SPY SS SPDR S&P 500 ETF Trust-US put New 25,000 $16.3M IWM iShares Russell 2000 ETF put Add +41.7% 42,500 $10.5M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 12 $42.3M BKLN, TRTX, VCIT, FLG, ARI Q1 2026 11 $52.0M BKLN, TRTX, VCIT, FLG, SPY Q4 2025 6 $42.7M RSP, FLG, TRTX, HYG, GSBD Q3 2025 6 $15.6M VCIT, TRTX, HOUS, FLG, ADAM Q2 2025 4 $32.7M HYG, BKLN, HOUS, NFE Q1 2025 2 $1.9M HOUS, NFE Q4 2024 2 $9.7M BKLN, NFE Q3 2024 1 $455K NFE Q2 2024 0 $0 Q1 2024 3 $66.3M HYG, LQD, HOUS