In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Sycale Advisors (NY) LLC reported 14 stock positions worth $259.2 million . Its top holding was Epr Properties (EPR) at 14.6% of the portfolio, followed by Burford Capital (BUR, 10.5% ) and Cae (CAE, 9.4% ). Compared with Q2 2024, it opened 2 new positions, sold out of 4, added to 5 and reduced 7. The biggest buy was Ferguson Enterprises (FERG, shares +256% ) and the biggest sale an exit from iShares MSCI Acwi ETF (ACWI).
Location New York, NY
CIK 0001811522
Portfolio Value $259.2M (Q3 2024) Holdings 14 stocks · $259.2M 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 Q2 2024 EPR Epr Properties filed as EPR PPTYS 769,624 $37.7M Add +3.2% BUR Burford Capital Ltd. 2,049,967 $27.2M Reduce -5.1% CAE Cae Inc. 1,295,399 $24.3M Add +26.1% NNI Nelnet Inc. Class A 203,658 $23.1M Reduce -12.6% ICE Intercontinental Exchange Inc. 136,774 $22.0M Reduce -44.6% FERG Ferguson Enterprises Inc. 103,196 $20.5M Add +255.9% UBER Uber Technologies Inc. 248,937 $18.7M Reduce -2.4% LH Labcorp Holdings Inc. 80,180 $17.9M Reduce -14.0% GRND Grindr Inc. 1,331,189 $15.9M Add +8.9% TKO Tko Group Holdings Inc. 120,043 $14.9M Reduce -22.6% HHH Howard Hughes Holdings Inc. 154,936 $12.0M New SLM SLM Corp. 443,792 $10.1M New W Wayfair Inc. Class A 143,903 $8.1M Add +52.5% FLUT Flutter Entertainment PLC-Di 29,118 $6.9M Reduce -14.1%
Options reported separately and not counted above: SPY puts ($234.5M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $39.2M (not counted above) Total filed on the 13F, all lines: $298.4M.
Portfolio Sells Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ ACWI iShares MSCI Acwi ETF Sold out 0.00% −4.91 GOOGL Alphabet Inc. Class A Sold out 0.00% −4.88 BALY Bally's Corp. Sold out 0.00% −4.45 CNK Cinemark Holdings Inc. Sold out 0.00% −4.04 ICE Intercontinental Exchange Inc. Reduce -44.6% 8.48% −3.98 TKO Tko Group Holdings Inc. Reduce -22.6% 5.73% −0.44 LH Labcorp Holdings Inc. Reduce -14.0% 6.91% −0.07 BUR Burford Capital Ltd. Reduce -5.1% 10.49% +0.10 NNI Nelnet Inc. Class A Reduce -12.6% 8.90% +0.25 FLUT Flutter Entertainment PLC-Di Reduce -14.1% 2.67% +0.39 UBER Uber Technologies Inc. Reduce -2.4% 7.22% +0.39
Portfolio Buys Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ FERG Ferguson Enterprises Inc. Add +255.9% 7.90% +5.84 HHH Howard Hughes Holdings Inc. New 4.63% +4.63 SLM SLM Corp. New 3.92% +3.92 EPR Epr Properties Add +3.2% 14.56% +3.03 CAE Cae Inc. Add +26.1% 9.37% +2.34 W Wayfair Inc. Class A Add +52.5% 3.12% +1.29 GRND Grindr Inc. Add +8.9% 6.13% +0.61
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 408,700 $234.5M RSP Invesco S&P 500 Equal Weight put Sold out 324,900 $53.4Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 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