SALT Holding Corp.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), SALT Holding Corp. reported 23 stock positions worth $162.8 million. Its top holding was Vodafone Group PLC-SP ADR (VOD) at 35.3% of the portfolio, followed by Ferrari (RACE, 13.9%) and Astrazeneca (AZN, 11.3%). Compared with Q4 2025, it opened 4 new positions and added to 4. The biggest buy was a new position in Novartis AG-Sponsored ADR (NVS).

Most Recent 13F
Q2 2026
Location
WILMINGTON, DE
CIK
0001996109
Portfolio Value
$162.8M (Q1 2026)
SEC Filing
0001996109-26-000005 ↗ filed May 15, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q4 2024: $78.5M Q4 2024 Q1 2025: $107.9M Q1 2025 Q2 2025: $65.3M Q2 2025 Q3 2025: $79.2M Q3 2025 Q4 2025: $126.7M Q4 2025 Q1 2026: $162.8M $162.8M Q1 2026 Q2 2026: $188.8M Q2 2026

Holdings 23 stocks · $162.8M
VOD Vodafone Group PLC-SP ADR 35.26% 3,821,000 $57.4M No change
RACE Ferrari NV 13.88% 66,772 $22.6M No change
AZN Astrazeneca PLC 11.30% 93,250 $18.4M No change
BUD Anheuser-Busch Inbev-SPN ADR 6.57% 154,173 $10.7M Add +34.8%
NVS Novartis AG-Sponsored ADR 6.27% 66,844 $10.2M New
NVO Novo-Nordisk A/S-Spons ADR 5.78% 256,134 $9.4M New
NOK Nokia Corp.-Spon ADR 5.31% 1,075,200 $8.6M No change
BTI British American Tob-SP ADR 3.43% 95,589 $5.6M No change
STM Stmicroelectronics NV-NY SHS 2.67% 125,900 $4.3M Add +65.9%
DEO Diageo PLC-Sponsored ADR 1.46% 31,855 $2.4M No change
ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS 1.38% 200,000 $2.3M No change
FRO Frontline PLC 1.34% 62,700 $2.2M Add +312.5%
SAP Sap SE-Sponsored ADR 0.70% 6,632 $1.1M Add +6.4%
STLA Stellantis NV 0.66% 150,493 $1.1M No change
MT Arcelormittal-NY Registered 0.63% 19,700 $1.0M No change
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.59% 728 $962K New
EQNR Equinor ASA-Spon ADR 0.57% 22,000 $928K No change
SHEL Shell PLC-ADR 0.57% 9,938 $924K No change
LOGI Logitech International-Reg 0.55% 9,763 $890K No change
MIAX Miami International Holdings 0.36% 15,173 $591K No change
WDS Woodside Energy Group-ADR 0.35% 23,908 $571K No change
ARGX Argenx SE - ADR 0.22% 500 $365K No change
BP BP PLC-Spons ADR 0.14% 4,800 $226K New

Options reported separately and not counted above: STM puts ($2.7M).

Portfolio Sells Q4 2025 → Q1 2026
None this quarter.

Portfolio Buys Q4 2025 → Q1 2026
NVS Novartis AG-Sponsored ADR New 6.27% +6.27
NVO Novo-Nordisk A/S-Spons ADR New 5.78% +5.78
STM Stmicroelectronics NV-NY SHS Add +65.9% 2.67% +1.12
FRO Frontline PLC Add +312.5% 1.34% +1.08
BUD Anheuser-Busch Inbev-SPN ADR Add +34.8% 6.57% +0.79
ASML ASML Holding NV-NY Reg SHS New 0.59% +0.59
BP BP PLC-Spons ADR New 0.14% +0.14
SAP Sap SE-Sponsored ADR Add +6.4% 0.70% −0.50

Options Activity Q4 2025 → Q1 2026
STM Stmicroelectronics NV-NY SHS put New 78,300 $2.7M
STM Stmicroelectronics NV-NY SHS call Sold out 50,000 $1.3Mbefore exit
FRO Frontline PLC call Sold out 47,500 $1.0Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 25$188.8MVOD, RACE, AZN, NOK, BUD
Q1 2026 23$162.8MVOD, RACE, AZN, BUD, NVS
Q4 2025 19$126.7MVOD, RACE, AZN, BUD, NOK
Q3 2025 13$79.2MVOD, RACE, BUD, DEO, STM
Q2 2025 7$65.3MVOD, RACE, STM, NVO, LOGI
Q1 2025 12$107.9MASML, LOGI, RIO, RACE, GSK
Q4 2024 11$78.5MASML, RIO, LOGI, NVO, GSK