In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Solel Partners LP reported 21 stock positions worth $540.1 million . Its top holding was Synchrony Financial (SYF) at 10.4% of the portfolio, followed by Brightstar Lottery (BRSL, 9.9% ) and CVS Health (CVS, 9.7% ). Compared with Q4 2024, it opened 2 new positions, sold out of 2, added to 8 and reduced 5. The biggest buy was a new position in Unitedhealth (UNH) and the biggest sale CVS Health (CVS, shares −46% ).
Location BOSTON, MA
CIK 0001790604
Portfolio Value $540.1M (Q1 2025) Holdings 21 stocks · $540.1M 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 Q4 2024 SYF Synchrony Financial 1,065,875 $56.4M Add +1.1% BRSL Brightstar Lottery PLC filed as INTERNATIONAL GAME TECHNOLOG 3,304,924 $53.7M Add +8.1% CVS CVS Health Corp. 774,300 $52.5M Reduce -45.6% TNL Travel + Leisure Co. 787,317 $36.4M No change UNH Unitedhealth Group Inc. 66,100 $34.6M New BASE Couchbase Inc. 2,118,393 $33.4M Add +8.8% CXM Sprinklr Inc. Class A 3,722,463 $31.1M Add +101.6% CI The Cigna Group 93,135 $30.6M Reduce -37.2% GO Grocery Outlet Holding Corp. 2,188,470 $30.6M Reduce -12.2% CZR Caesars Entertainment Inc. 1,143,300 $28.6M New LPLA LPL Financial Holdings Inc. 87,000 $28.5M No change HUM Humana Inc. 103,600 $27.4M Add +2254.6% BIOX Bioceres Crop Solutions Corp. 4,579,364 $20.9M No change AMZN Amazon.com Inc. 108,470 $20.6M No change PGRE Paramount Group Inc. 3,584,255 $15.4M Add +163.5% HLF Herbalife Ltd. 1,406,791 $12.1M Add +20.3% TRTX TPG Re Finance Trust Inc. 873,686 $7.1M Add +45.7% MLCO Melco Resorts & Entert-ADR 1,328,000 $7.0M No change PUK Prudential PLC-ADR 266,592 $5.7M No change LAW CS Disco Inc. 1,105,244 $4.5M Reduce -3.8% EVRI Everi Holdings Inc. 204,250 $2.8M Reduce -60.4%
Portfolio Sells Q4 2024 → Q1 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 Q4 2024 % Of Portfolio Change To Portfolio ▲ CVS CVS Health Corp. Reduce -45.6% 9.71% −3.26 CI The Cigna Group Reduce -37.2% 5.67% −2.64 HDB HDFC Bank Ltd.-ADR Sold out 0.00% −2.28 GO Grocery Outlet Holding Corp. Reduce -12.2% 5.66% −2.23 EVRI Everi Holdings Inc. Reduce -60.4% 0.52% −0.90 ZUO Zuora Inc. Class A Sold out 0.00% −0.85 LAW CS Disco Inc. Reduce -3.8% 0.84% −0.33
Portfolio Buys Q4 2024 → Q1 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 Q4 2024 % Of Portfolio Change To Portfolio ▼ UNH Unitedhealth Group Inc. New 6.41% +6.41 CZR Caesars Entertainment Inc. New 5.29% +5.29 HUM Humana Inc. Add +2254.6% 5.08% +4.85 CXM Sprinklr Inc. Class A Add +101.6% 5.76% +2.59 PGRE Paramount Group Inc. Add +163.5% 2.85% +1.49 HLF Herbalife Ltd. Add +20.3% 2.25% +0.66 TRTX TPG Re Finance Trust Inc. Add +45.7% 1.32% +0.28 BASE Couchbase Inc. Add +8.8% 6.18% +0.02 BRSL Brightstar Lottery PLC Add +8.1% 9.95% −1.01 SYF Synchrony Financial Add +1.1% 10.45% −3.46
Notes & Other Activity Q4 2024 → Q1 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 24 $588.5M HUM, UNH, CPT, SYF, TNL Q1 2026 19 $467.7M UNH, SYF, BRZE, TNL, CVS Q4 2025 22 $618.2M UNH, SYF, CVS, BRZE, BRSL Q3 2025 19 $519.8M UNH, BRSL, CVS, SYF, TNL Q2 2025 20 $574.5M SYF, BRSL, UNH, BASE, CVS Q1 2025 21 $540.1M SYF, BRSL, CVS, TNL, UNH Q4 2024 21 $492.9M SYF, CVS, BRSL, CI, TNL Q3 2024 17 $490.9M CVS, BRSL, SYF, GO, CI Q2 2024 21 $594.0M HUM, BIOX, SYF, BRSL, ZUO Q1 2024 18 $561.9M CI, BIOX, HUM, SYF, FNF