In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Scoggin Management LP reported 36 stock positions worth $262.4 million . Its top holding was Terawulf (WULF) at 27.7% of the portfolio, followed by Echostar Class A (ECHO, 16.6% ) and Warner Bros Discovery (WBD, 9.3% ). Compared with Q3 2025, it opened 13 new positions, sold out of 12, added to 6 and reduced 15. The biggest buy was a new position in Warner Bros Discovery (WBD) and the biggest sale Nebius (NBIS, shares −24% ).
Location NEW YORK, NY
CIK 0001086416
Portfolio Value $262.4M (Q4 2025) Holdings 36 stocks · $262.4M 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 Q3 2025 WULF Terawulf Inc. 6,325,000 $72.7M Reduce -7.7% ECHO Echostar Corp. Class A 400,000 $43.5M Add +10.3% WBD Warner Bros Discovery Inc. 850,000 $24.5M New NRGV Energy Vault Holdings Inc. 5,075,000 $23.4M Reduce -3.3% CORZ Core Scientific Inc. 1,175,000 $17.1M Add +56.7% NBIS Nebius Group NV 200,000 $16.7M Reduce -23.8% PTON Peloton Interactive Inc. Class A 2,000,000 $12.3M Add +433.3% WLAC Willow Lane Acquisition Class A 700,000 $8.8M Add +19.7% NVRI Enviri Corp. 375,000 $6.7M New VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 250,000 $4.5M No change ABR Arbor Realty Trust Inc. 500,000 $3.9M New GOOG Alphabet Inc. Class C 10,000 $3.1M Reduce -20.0% DEI Douglas Emmett Inc. 250,000 $2.7M New SKYA Skyai Inc. filed as SHARPS TECHNOLOGY INC 1,150,000 $2.3M New NAVN Navan Inc. Class A 135,000 $2.3M New SOC Sable Offshore Corp. 250,000 $2.3M Reduce -42.9% TSLA Tesla Inc. 5,000 $2.2M Reduce -66.7% LENZ Lenz Therapeutics Inc. 125,000 $2.0M Reduce -44.4% AEVA Aeva Technologies Inc. 150,000 $2.0M New MSOS Advisorshares Pure US Cann 375,000 $1.8M Reduce -62.5% AMZN Amazon.com Inc. 7,500 $1.7M No change CLNN Clene Inc. 275,000 $1.6M Add +10.0% HUT Hut 8 Corp. 25,000 $1.1M New AUID Authid Inc. 500,000 $437K Add +25.0% RTACU Renatus Tactical Acquisition 20,000 $222K Reduce -20.0% RDAGU Republic Digital Acquisition 20,000 $208K Reduce -20.0% ONCHU 1RT Acquisition Corp. 20,000 $208K Reduce -20.0% CEPF Cantor Equity Partners Class A 20,000 $206K Reduce -20.0% CEPV Cantor Equity Partners Class A 20,000 $205K New FCRS.U Futurecrest Acquisition Corp. 20,000 $205K Reduce -60.0% PCAPU Procap Acquisition Corp. 20,000 $205K Reduce -20.0% CCXIU Churchill Capital Corp. Xi 20,000 $204K New BDCIU BTC Development Corp. 20,000 $203K Reduce -60.0% CRANU Crane Harbor Acquisition Cor 20,000 $201K New DYORU Insight Digital Partners II 20,000 $201K New EVOXU Evolution Global Acquisition 20,000 $201K New
Options reported separately and not counted above: WULF calls ($78.7M), WULF puts ($63.2M), SPY puts ($51.1M), QQQ puts ($46.1M), IWM puts ($30.8M), CORZ calls ($28.4M), IBIT puts ($14.9M), NBIS calls ($12.6M), ECHO calls ($9.5M), TDS calls ($9.2M), DIS calls ($5.7M), ECHO puts ($5.4M), and 11 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $6.7M (not counted above) Total filed on the 13F, all lines: $269.1M.
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ NBIS Nebius Group NV Reduce -23.8% 6.38% −5.30 TDS Telephone and Data Systems Sold out 0.00% −4.28 LENZ Lenz Therapeutics Inc. Reduce -44.4% 0.76% −3.39 WULF Terawulf Inc. Reduce -7.7% 27.70% −3.30 ETHE Grayscale Ethereum Staking E Sold out 0.00% −3.12 DIS The Walt Disney Co. Sold out 0.00% −2.27 SOC Sable Offshore Corp. Reduce -42.9% 0.86% −2.17 ATEX Anterix Inc. Sold out 0.00% −1.91 TSLA Tesla Inc. Reduce -66.7% 0.86% −1.79 MSOS Advisorshares Pure US Cann Reduce -62.5% 0.67% −1.22 KVUE Kenvue Inc. Sold out 0.00% −0.80 CLW Clearwater Paper Corp. Sold out 0.00% −0.41 VECO Veeco Instruments Inc. Sold out 0.00% −0.22 HURC Hurco Companies Inc. Sold out 0.00% −0.20 XPEL Xpel Inc. Sold out 0.00% −0.20 FCRS.U Futurecrest Acquisition Corp. Reduce -60.0% 0.08% −0.13 BDCIU BTC Development Corp. Reduce -60.0% 0.08% −0.12 CEPT Cantor Equity Partners Class A Sold out 0.00% −0.10 CAEP Cantor Equity Partners III-A Sold out 0.00% −0.10 USIO Usio Inc. Sold out 0.00% −0.04 RTACU Renatus Tactical Acquisition Reduce -20.0% 0.08% −0.03 PCAPU Procap Acquisition Corp. Reduce -20.0% 0.08% −0.03 ONCHU 1RT Acquisition Corp. Reduce -20.0% 0.08% −0.03 RDAGU Republic Digital Acquisition Reduce -20.0% 0.08% −0.02 CEPF Cantor Equity Partners Class A Reduce -20.0% 0.08% −0.02 GOOG Alphabet Inc. Class C Reduce -20.0% 1.20% −0.01 NRGV Energy Vault Holdings Inc. Reduce -3.3% 8.92% +2.74
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ WBD Warner Bros Discovery Inc. New 9.34% +9.34 ECHO Echostar Corp. Class A Add +10.3% 16.57% +5.60 PTON Peloton Interactive Inc. Class A Add +433.3% 4.70% +3.36 NVRI Enviri Corp. New 2.56% +2.56 ABR Arbor Realty Trust Inc. New 1.48% +1.48 CORZ Core Scientific Inc. Add +56.7% 6.52% +1.19 DEI Douglas Emmett Inc. New 1.05% +1.05 SKYA Skyai Inc. New 0.89% +0.89 NAVN Navan Inc. Class A New 0.88% +0.88 AEVA Aeva Technologies Inc. New 0.76% +0.76 WLAC Willow Lane Acquisition Class A Add +19.7% 3.37% +0.69 HUT Hut 8 Corp. New 0.44% +0.44 CEPV Cantor Equity Partners Class A New 0.08% +0.08 CCXIU Churchill Capital Corp. Xi New 0.08% +0.08 CRANU Crane Harbor Acquisition Cor New 0.08% +0.08 DYORU Insight Digital Partners II New 0.08% +0.08 EVOXU Evolution Global Acquisition New 0.08% +0.08 CLNN Clene Inc. Add +10.0% 0.62% +0.02 AUID Authid Inc. Add +25.0% 0.17% −0.34
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ WULF Terawulf Inc. call Add +61.2% 6,850,000 $78.7M WULF Terawulf Inc. put Add +109.5% 5,500,000 $63.2M SPY SS SPDR S&P 500 ETF Trust-US put Reduce -50.0% 75,000 $51.1M IWM iShares Russell 2000 ETF put New 125,000 $30.8M CORZ Core Scientific Inc. call Add +2.6% 1,950,000 $28.4M IBIT iShares Bitcoin Trust ETF put Reduce -7.7% 300,000 $14.9M NBIS Nebius Group NV call Add +500.0% 150,000 $12.6M ECHO Echostar Corp. Class A call Reduce -61.1% 87,500 $9.5M KVUE Kenvue Inc. call Sold out 400,000 $6.5Mbefore exit DIS The Walt Disney Co. call New 50,000 $5.7M ECHO Echostar Corp. Class A put Reduce -60.0% 50,000 $5.4M NLY Annaly Capital Management Inc. call Sold out 250,000 $5.1Mbefore exit SOC Sable Offshore Corp. call Sold out 250,000 $4.4Mbefore exit PRMB Primo Brands Corp. call New 250,000 $4.1M WBD Warner Bros Discovery Inc. call Reduce -50.0% 125,000 $3.6M HUT Hut 8 Corp. put Sold out 100,000 $3.5Mbefore exit CRWV Coreweave Inc. Class A call Sold out 25,000 $3.4Mbefore exit AAPL Apple Inc. put New 12,500 $3.4M NRGV Energy Vault Holdings Inc. call Reduce -28.6% 625,000 $2.9M UNFI United Natural Foods Inc. call Sold out 75,000 $2.8Mbefore exit AGNC AGNC Investment Corp. call Sold out 250,000 $2.4Mbefore exit MSOS Advisorshares Pure US Cann put Sold out 500,000 $2.4Mbefore exit IREN Iren Ltd. put Sold out 50,000 $2.3Mbefore exit HUT Hut 8 Corp. call New 50,000 $2.3M GRPN Groupon Inc. call Reduce -60.0% 100,000 $1.8M AEVA Aeva Technologies Inc. call New 125,000 $1.7M MSOS Advisorshares Pure US Cann call Reduce -66.7% 250,000 $1.2M SOC Sable Offshore Corp. put Reduce -55.6% 100,000 $902K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025 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 48 $422.5M WULF, CORZ, NRGV, WBD, SHAZ Q1 2026 30 $254.0M WULF, CORZ, NRGV, ECHO, APO Q4 2025 36 $262.4M WULF, ECHO, WBD, NRGV, CORZ Q3 2025 35 $252.3M WULF, NBIS, ECHO, NRGV, CORZ Q2 2025 42 $210.6M WULF, CORZ, NBIS, SHCO, TDS Q1 2025 37 $202.0M TDS, PFLT, SHCO, QQQ, WULF Q4 2024 31 $190.4M APO, SHCO, ESI, NBIS, WULF Q3 2024 44 $181.2M ESI, APO, TDS, SHCO, CORZ Q2 2024 37 $149.7M APO, ESI, TDS, SHCO, CRH Q1 2024 34 $134.6M ESI, APO, CRH, SHCO, TLT