Sycale Advisors (NY) LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 12, 2024), Sycale Advisors (NY) LLC reported 16 stock positions worth $271.5 million. Its top holding was Intercontinental Exchange (ICE) at 12.5% of the portfolio, followed by Epr Properties (EPR, 11.5%) and Burford Capital (BUR, 10.4%). Compared with Q1 2024, it opened 2 new positions, sold out of 2, added to 7 and reduced 7. The biggest buy was a new position in Epr Properties (EPR) and the biggest sale Cinemark (CNK, shares −70%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001811522
Portfolio Value
$271.5M (Q2 2024)
SEC Filing
0001172661-24-003235 ↗ filed Aug 12, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $243.3M Q1 2024 Q2 2024: $271.5M $271.5M Q2 2024 Q3 2024: $259.2M Q3 2024 Q4 2024: $289.8M Q4 2024 Q1 2025: $281.8M Q1 2025 Q2 2025: $313.3M Q2 2025 Q3 2025: $320.5M Q3 2025 Q4 2025: $284.1M Q4 2025 Q1 2026: $197.8M Q1 2026 Q2 2026: $224.5M Q2 2026

Holdings 16 stocks · $271.5M
ICE Intercontinental Exchange Inc. 12.45% 246,918 $33.8M Add +1.2%
EPR Epr Properties filed as EPR PPTYS 11.53% 745,671 $31.3M New
BUR Burford Capital Ltd. 10.38% 2,159,673 $28.2M Add +38.6%
NNI Nelnet Inc. Class A 8.65% 232,903 $23.5M Reduce -24.6%
CAE Cae Inc. 7.03% 1,027,433 $19.1M Add +147.5%
LH Labcorp Holdings Inc. 6.99% 93,200 $19.0M Add +200.7%
UBER Uber Technologies Inc. 6.83% 255,037 $18.5M New
TKO Tko Group Holdings Inc. 6.17% 155,186 $16.8M Reduce -49.2%
GRND Grindr Inc. 5.51% 1,222,355 $15.0M Reduce -11.9%
ACWI iShares MSCI Acwi ETF 4.91% 118,528 $13.3M Add +610.9%
GOOGL Alphabet Inc. Class A 4.88% 72,749 $13.3M Reduce -62.3%
BALY Bally's Corp. 4.45% 1,009,180 $12.1M Reduce -5.3%
CNK Cinemark Holdings Inc. 4.04% 507,434 $11.0M Reduce -70.1%
FLUT Flutter Entertainment PLC-Di 2.28% 33,906 $6.2M Add +323.8%
FERG Ferguson Jersey Ltd. 2.07% 28,993 $5.6M Reduce -1.1%
W Wayfair Inc. Class A 1.83% 94,367 $5.0M Add +24.4%

Options reported separately and not counted above: RSP puts ($53.4M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $23.8M (not counted above)
SecurityClassShares / PrincipalValueChange
WAYFAIR INC (W 1 08/15/26) NOTE 1.000% 8/1 · principal 20,750,000$18.8MAdd +5.1%
AIR TRANSPORT SERVICES G (ATSG 1.125 10/15/24) NOTE 1.125%10/1 · principal 5,100,000$5.0MNo change

Total filed on the 13F, all lines: $295.3M.

Portfolio Sells Q1 2024 → Q2 2024
CNK Cinemark Holdings Inc. Reduce -70.1% 4.04% −8.49
GOOGL Alphabet Inc. Class A Reduce -62.3% 4.88% −7.10
TKO Tko Group Holdings Inc. Reduce -49.2% 6.17% −4.67
LGF.B Lions Gate Entertainment-B Sold out 0.00% −3.71
NNI Nelnet Inc. Class A Reduce -24.6% 8.65% −3.37
BALY Bally's Corp. Reduce -5.3% 4.45% −1.65
LIONS GATE ENTMNT CORP Sold out 0.00% −0.57
FERG Ferguson Jersey Ltd. Reduce -1.1% 2.07% −0.56
GRND Grindr Inc. Reduce -11.9% 5.51% −0.27

Portfolio Buys Q1 2024 → Q2 2024
EPR Epr Properties New 11.53% +11.53
UBER Uber Technologies Inc. New 6.83% +6.83
LH Labcorp Holdings Inc. Add +200.7% 6.99% +4.20
ACWI iShares MSCI Acwi ETF Add +610.9% 4.91% +4.15
CAE Cae Inc. Add +147.5% 7.03% +3.51
FLUT Flutter Entertainment PLC-Di Add +323.8% 2.28% +1.63
BUR Burford Capital Ltd. Add +38.6% 10.38% +0.16
W Wayfair Inc. Class A Add +24.4% 1.83% −0.28
ICE Intercontinental Exchange Inc. Add +1.2% 12.45% −1.33

Options Activity Q1 2024 → Q2 2024
RSP Invesco S&P 500 Equal Weight put Reduce -40.1% 324,900 $53.4M

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

Notes & Other Activity Q1 2024 → Q2 2024
WAYFAIR INC (W 1 08/15/26) NOTE 1.000% 8/1 · principal Add +5.1% 20,750,000 $18.8M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 22$224.5MSPOT, TKO, MSFT, NFLX, APG
Q1 2026 16$197.8MICE, SPOT, MSFT, CAE, TKO
Q4 2025 15$284.1MCAE, MSFT, ICE, VRRM, SPOT
Q3 2025 16$320.5MCAE, MSFT, VRRM, BUR, ICE
Q2 2025 19$313.3MCAE, BUR, VRRM, MSFT, ICE
Q1 2025 19$281.8MCAE, NNI, BUR, MSFT, APG
Q4 2024 17$289.8MEPR, CAE, NNI, BUR, ICE
Q3 2024 14$259.2MEPR, BUR, CAE, NNI, ICE
Q2 2024 16$271.5MICE, EPR, BUR, NNI, CAE
Q1 2024 16$243.3MICE, CNK, NNI, GOOGL, TKO