In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Rpo LLC reported 18 stock positions worth $19.2 million . Its top holding was Liberty All Star Equity Fund (USA) at 16.6% of the portfolio, followed by SRH Total Return Fund (STEW, 15.9% ) and Liberty All-Star Growth FD (ASG, 9.2% ). Compared with Q4 2025, it opened 7 new positions, sold out of 37, added to 3 and reduced 5. The biggest buy was SRH Total Return Fund (STEW, shares +6% ) and the biggest sale an exit from SS SPDR S&P 500 ETF Trust-US (SPY).
Location Stamford, CT
CIK 0001885066
Portfolio Value $19.2M (Q1 2026) Holdings 18 stocks · $19.2M 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 USA Liberty All Star Equity Fund 573,700 $3.2M No change STEW SRH Total Return Fund Inc. 178,990 $3.1M Add +5.9% ASG Liberty All-Star Growth FD 371,654 $1.8M Add +189.0% ETH Grayscale Ethereum Staking M 80,800 $1.6M Add +36.0% XFLT Xai Fltng Rte&alt Inc. TRS-Ui filed as XAI OCTAGN FLT RAT & ALT INM 89,904 $1.5M New SABA Saba Capital Income & Opp II 123,146 $1.0M New BSOL Bitwise Solana Staking ETF 86,700 $958K Reduce -56.9% ETHB Ishr Staked Ether TRST ETF 31,200 $841K New SOEZ Franklin Solana ETF 57,400 $817K New FETH Fidelity Ethereum Fund 35,700 $745K New VSOL Vaneck Solana ETF 65,395 $713K New BRW Saba Capital Income & Opport 94,567 $637K New XGLQX Clough Global Equity Fund 81,823 $616K Reduce -11.4% GLO Clough Global Opportunities 91,479 $510K Reduce -17.9% GLV Clough Global Dividend & Inc. 70,753 $419K No change CHW Calamos Global Dynamic Incom 47,570 $345K Reduce -23.0% CUK Carnival PLC-ADR 11,110 $286K No change ETJ Eaton Vance RSK-MGD Divers 19,442 $159K Reduce -85.8%
Options reported separately and not counted above: USO puts ($6.8M), UVXY puts ($748K).
Other holdings (4): bonds, preferreds, convertibles and warrants · $5.6M (not counted above) Security Class Shares / Principal Value Change STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal 5,000,000 $5.5M No change BULLW Webull Corp.-30 *W EXP 04/10/203 21,000 $29K No change BZAIW Burtech Acquisition -CW23 *W EXP 01/13/203 45,520 $17K No change ANNAW Aleanna Inc. Class A - 29 *W EXP 12/13/202 13,896 $11K No change
Total filed on the 13F, all lines: $24.8M.
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 ▲ SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −49.35 MSFT Microsoft Corp. Sold out 0.00% −9.72 AAPL Apple Inc. Sold out 0.00% −5.04 ARKB ARK 21SHARES Bitcoin ETF Sold out 0.00% −3.48 FBTC Fidelity Wise Origin Bitcoin Sold out 0.00% −3.06 BTCO Invsco GLXY BTCN ETF Sold out 0.00% −2.29 BITB Bitwise Bitcoin ETF Sold out 0.00% −1.97 COP Conocophillips Sold out 0.00% −1.44 ETJ Eaton Vance RSK-MGD Divers Reduce -85.8% 0.83% −0.74 FSOL Fidelity Solana Fund Sold out 0.00% −0.31 SOC Sable Offshore Corp. Sold out 0.00% −0.16 WEAV Weave Communications Inc. Sold out 0.00% −0.10 UDMY Udemy Inc. Sold out 0.00% −0.10 UAA Under Armour Inc. Class A Sold out 0.00% −0.10 SXC Suncoke Energy Inc. Sold out 0.00% −0.10 TROX Tronox Holdings PLC Sold out 0.00% −0.09 EVH Evolent Health Inc. Class A Sold out 0.00% −0.09 AHRT Ah Realty Trust Inc. Sold out 0.00% −0.09 JBLU Jetblue Airways Corp. Sold out 0.00% −0.09 BLND Blend Labs Inc. Class A Sold out 0.00% −0.09 PSEC Prospect Capital Corp. Sold out 0.00% −0.09 PAYO Payoneer Global Inc. Sold out 0.00% −0.09 BMBL Bumble Inc. Class A Sold out 0.00% −0.09 BDN Brandywine Realty Trust Sold out 0.00% −0.08 VTEX Vtex Class A Sold out 0.00% −0.08 GDRX Goodrx Holdings Inc. Class A Sold out 0.00% −0.08 WEST Westrock Coffee Co. Sold out 0.00% −0.08 NWL Newell Brands Inc. Sold out 0.00% −0.08 RBBN Ribbon Communications Inc. Sold out 0.00% −0.08 CLVT Clarivate PLC Sold out 0.00% −0.08 AUR Aurora Innovation Inc. Sold out 0.00% −0.08 RXRX Recursion Pharmaceuticals-A Sold out 0.00% −0.08 FUFU Bitfufu Inc. Class A Sold out 0.00% −0.08 CINT Ci&t Inc./United States-A Sold out 0.00% −0.08 CODI Compass Diversified Holdings Sold out 0.00% −0.08 RC Ready Capital Corp. Sold out 0.00% −0.08 AMC AMC Entertainment HLDS Class A Sold out 0.00% −0.06 BTBT Bit Digital Inc. Sold out 0.00% −0.03 BSOL Bitwise Solana Staking ETF Reduce -56.9% 4.98% +0.71 CHW Calamos Global Dynamic Incom Reduce -23.0% 1.80% +1.20 GLO Clough Global Opportunities Reduce -17.9% 2.65% +1.83 XGLQX Clough Global Equity Fund Reduce -11.4% 3.20% +2.29
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 ▼ STEW SRH Total Return Fund Inc. Add +5.9% 15.91% +11.85 ASG Liberty All-Star Growth FD Add +189.0% 9.18% +8.30 XFLT Xai Fltng Rte&alt Inc. TRS-Ui New 8.03% +8.03 ETH Grayscale Ethereum Staking M Add +36.0% 8.34% +6.18 SABA Saba Capital Income & Opp II New 5.33% +5.33 ETHB Ishr Staked Ether TRST ETF New 4.38% +4.38 SOEZ Franklin Solana ETF New 4.25% +4.25 FETH Fidelity Ethereum Fund New 3.88% +3.88 VSOL Vaneck Solana ETF New 3.71% +3.71 BRW Saba Capital Income & Opport New 3.31% +3.31
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 561,000 $382.6Mbefore exit SPY SS SPDR S&P 500 ETF Trust-US call Sold out 300,000 $204.6Mbefore exit NVDA Nvidia Corp. put Sold out 237,000 $44.2Mbefore exit MSFT Microsoft Corp. put Sold out 55,000 $26.6Mbefore exit BAC Bank of America Corp. call Sold out 445,000 $24.5Mbefore exit XME SS SPDR S&P Metals Mining put Sold out 233,000 $24.1Mbefore exit BAC Bank of America Corp. put Sold out 416,000 $22.9Mbefore exit COP Conocophillips put Sold out 244,000 $22.8Mbefore exit COP Conocophillips call Sold out 237,000 $22.2Mbefore exit NVDA Nvidia Corp. call Sold out 114,000 $21.3Mbefore exit AAPL Apple Inc. put Sold out 60,000 $16.3Mbefore exit QCOM Qualcomm Inc. put Sold out 93,000 $15.9Mbefore exit MSFT Microsoft Corp. call Sold out 31,000 $15.0Mbefore exit MS Morgan Stanley put Sold out 73,000 $13.0Mbefore exit MS Morgan Stanley call Sold out 46,000 $8.2Mbefore exit USO United States Oil Fund LP put New 53,500 $6.8M QCOM Qualcomm Inc. call Sold out 20,000 $3.4Mbefore exit XME SS SPDR S&P Metals Mining call Sold out 12,000 $1.2Mbefore exit UVXY Proshares Ultra Vix St Futur put New 14,300 $748K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026 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 12 $14.7M USA, STEW, ASG, XRPZ, GLO Q1 2026 18 $19.2M USA, STEW, ASG, ETH, XFLT Q4 2025 48 $77.1M SPY, MSFT, AAPL, USA, BSOL Q3 2025 21 $55.6M SPY, FBTC, BITB, IBIT, CUK Q2 2025 17 $33.8M FBTC, IBIT, BITB, STEW, ARKB Q1 2025 19 $43.9M BAC, ISRG, XME, CSCO, AAPL Q4 2024 64 $70.5M BITB, FBTC, COP, SPY, NUE Q3 2024 24 $64.4M FBTC, SPY, BITB, COP, NUE Q2 2024 28 $63.7M FBTC, BITB, COP, HQH, XGDVX Q1 2024 30 $67.7M FBTC, BITB, HQH, HQL, BSTZ