In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 11, 2026), Sycale Advisors (NY) LLC reported 22 stock positions worth $224.5 million . Its top holding was Spotify Technology (SPOT) at 8.7% of the portfolio, followed by Tko (TKO, 7.3% ) and Microsoft (MSFT, 7.0% ). Compared with Q1 2026, it opened 9 new positions, sold out of 3, added to 4 and reduced 8. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale an exit from Intercontinental Exchange (ICE).
Location New York, NY
CIK 0001811522
Portfolio Value $224.5M (Q2 2026) Holdings 22 stocks · $224.5M 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 Q1 2026 SPOT Spotify Technology SA 42,731 $19.6M No change TKO Tko Group Holdings Inc. 80,861 $16.3M Add +0.3% MSFT Microsoft Corp. 42,189 $15.7M Reduce -21.6% NFLX Netflix Inc. 217,673 $15.5M Add +57.3% APG Api Group Corp. 359,139 $15.2M Reduce -2.4% META Meta Platforms Inc. Class A 21,026 $11.8M New GENI Genius Sports Ltd. 1,936,060 $11.7M Reduce -4.9% CAE Cae Inc. 446,527 $11.2M Reduce -41.5% NNI Nelnet Inc. Class A 83,053 $11.1M Reduce -17.3% AXON Axon Enterprise Inc. 19,399 $10.9M New MELI MercadoLibre Inc. 6,306 $10.7M Reduce -20.4% SHOP Shopify Inc. Class A 89,430 $10.2M New FERG Ferguson Enterprises Inc. 42,109 $10.0M Add +321.5% FLEX Flex Ltd. 53,780 $8.7M New SNOW Snowflake Inc. 29,440 $7.5M New NOW ServiceNow Inc. 70,310 $7.0M New DDOG Datadog Inc. Class A 25,525 $6.6M New QXO Qxo Inc. 382,657 $6.6M Reduce -38.9% SPGI S&P Global Inc. 15,891 $6.5M New PLTR Palantir Technologies Inc. Class A 37,641 $4.4M Reduce -24.5% GPRK Geopark Ltd. 454,682 $4.1M Add +34.1% EWW iShares MSCI Mexico ETF 40,200 $3.0M New
Options reported separately and not counted above: SPY puts ($57.9M), IWM puts ($43.5M).
Portfolio Sells Q1 2026 → Q2 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 Q1 2026 % Of Portfolio Change To Portfolio ▲ ICE Intercontinental Exchange Inc. Sold out 0.00% −13.82 CAE Cae Inc. Reduce -41.5% 4.98% −5.06 QXO Qxo Inc. Reduce -38.9% 2.95% −3.20 MSFT Microsoft Corp. Reduce -21.6% 7.01% −3.06 NCMI National Cinemedia Inc. Sold out 0.00% −2.24 MELI MercadoLibre Inc. Reduce -20.4% 4.77% −2.16 PLTR Palantir Technologies Inc. Class A Reduce -24.5% 1.96% −1.73 NNI Nelnet Inc. Class A Reduce -17.3% 4.93% −1.62 APG Api Group Corp. Reduce -2.4% 6.78% −0.77 W Wayfair Inc. Class A Sold out 0.00% −0.19 GENI Genius Sports Ltd. Reduce -4.9% 5.23% +0.67
Portfolio Buys Q1 2026 → Q2 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 Q1 2026 % Of Portfolio Change To Portfolio ▼ META Meta Platforms Inc. Class A New 5.28% +5.28 AXON Axon Enterprise Inc. New 4.84% +4.84 SHOP Shopify Inc. Class A New 4.55% +4.55 FLEX Flex Ltd. New 3.88% +3.88 SNOW Snowflake Inc. New 3.34% +3.34 FERG Ferguson Enterprises Inc. Add +321.5% 4.45% +3.27 NOW ServiceNow Inc. New 3.11% +3.11 DDOG Datadog Inc. Class A New 2.96% +2.96 SPGI S&P Global Inc. New 2.88% +2.88 EWW iShares MSCI Mexico ETF New 1.35% +1.35 GPRK Geopark Ltd. Add +34.1% 1.84% +0.21 NFLX Netflix Inc. Add +57.3% 6.92% +0.20 TKO Tko Group Holdings Inc. Add +0.3% 7.25% −0.97
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 77,500 $57.9M IWM iShares Russell 2000 ETF put New 144,800 $43.5M BUR Burford Capital Ltd. call Sold out 204,900 $926Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026 Security Class Change vs Q1 2026 Shares / Principal Value ▼ WAYFAIR INC (W 3.25 09/15/27) NOTE 3.250% 9/1 · principal Sold out 1,316,000 $1.8Mbefore exit
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 22 $224.5M SPOT, TKO, MSFT, NFLX, APG Q1 2026 16 $197.8M ICE, SPOT, MSFT, CAE, TKO Q4 2025 15 $284.1M CAE, MSFT, ICE, VRRM, SPOT Q3 2025 16 $320.5M CAE, MSFT, VRRM, BUR, ICE Q2 2025 19 $313.3M CAE, BUR, VRRM, MSFT, ICE Q1 2025 19 $281.8M CAE, NNI, BUR, MSFT, APG Q4 2024 17 $289.8M EPR, CAE, NNI, BUR, ICE Q3 2024 14 $259.2M EPR, BUR, CAE, NNI, ICE Q2 2024 16 $271.5M ICE, EPR, BUR, NNI, CAE Q1 2024 16 $243.3M ICE, CNK, NNI, GOOGL, TKO