Taconic Capital Advisors LP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Taconic Capital Advisors LP reported 36 stock positions worth $1.3 billion. Its top holding was Hess (HES) at 18.2% of the portfolio, followed by Ansys (ANSS, 17.3%) and Discover Financial Services (DFS, 15.9%). Compared with Q3 2024, it opened 10 new positions, sold out of 5, added to 12 and reduced 10. The biggest buy was Discover Financial Services (DFS, shares +1406%) and the biggest sale an exit from Catalent (CTLT).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001390113
Portfolio Value
$1.3B (Q4 2024)
SEC Filing
0001085146-25-001563 ↗ filed Feb 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $778.0M Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.1B Q3 2024 Q4 2024: $1.3B $1.3B Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $865.3M Q2 2025 Q3 2025: $337.6M Q3 2025 Q4 2025: $271.1M Q4 2025 Q1 2026: $146.2M Q1 2026 Q2 2026: $166.0M Q2 2026

Holdings 36 stocks · $1.3B
HES Hess Corp. 18.17% 1,745,787 $232.2M Reduce -20.0%
ANSS Ansys Inc. 17.32% 656,216 $221.4M Reduce -2.0%
DFS Discover Financial Services 15.93% 1,174,852 $203.5M Add +1406.2%
JNPR Juniper Networks Inc. 10.83% 3,694,822 $138.4M Reduce -2.3%
CHX Championx Corp. 6.03% 2,835,977 $77.1M Add +29.7%
ALE Allete Inc. 4.29% 845,771 $54.8M Add +29.5%
FYBR Frontier Communications Pare 3.23% 1,190,000 $41.3M Add +153.9%
CORZ Core Scientific Inc. 3.22% 2,930,617 $41.2M Add +7.8%
VTOL Bristow Group Inc. 2.95% 1,097,927 $37.7M Add +4.9%
K Kellanova 2.36% 372,172 $30.1M Reduce -11.2%
ALTM Arcadium Lithium PLC 2.07% 5,156,000 $26.5M New
AMED Amedisys Inc. 1.73% 244,121 $22.2M Add +876.5%
BERY Berry Global Group Inc. 1.73% 341,725 $22.1M New
SUM Summit Materials Inc. Class A 1.50% 379,214 $19.2M New
EFXT Enerflex Ltd. 1.33% 1,711,800 $17.0M Reduce -3.4%
AXONICS INC 1.21% 225,000 $15.5M Add +0.0%
CBL CBL & Associates Properties 0.92% 399,352 $11.7M Add +340.3%
HCP Hashicorp Inc. Class A 0.88% 328,664 $11.2M Add +0.0%
GNL Global Net Lease Inc. 0.57% 1,000,000 $7.3M New
SIMO Silicon Motion Technol-ADR 0.50% 117,884 $6.4M Reduce -46.4%
CPRI Capri Holdings Ltd. 0.46% 130,000 $5.9M Reduce -81.3%
HNRG Hallador Energy Co. 0.42% 464,732 $5.3M Add +5.7%
OMC Omnicom Group 0.42% 61,712 $5.3M New
ALX Alexander's Inc. 0.28% 17,986 $3.6M Reduce -47.9%
X United States Steel Corp. 0.27% 100,000 $3.4M Reduce -82.3%
HSY The Hershey Co. 0.26% 19,850 $3.4M New
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 0.25% 1,325,000 $3.2M Add +39.5%
LTM Latam Airlines Group SA-ADR 0.22% 100,000 $2.8M New
BMRN Biomarin Pharmaceutical Inc. 0.15% 30,000 $2.0M No change
ET Energy Transfer LP 0.15% 100,000 $2.0M No change
U Unity Software Inc. 0.11% 65,000 $1.5M Reduce -13.3%
APD Air Products & Chemicals Inc. 0.11% 5,000 $1.5M New
ILMN Illumina Inc. 0.05% 5,000 $668K New
ECHO Echostar Corp. Class A 0.04% 25,000 $573K New
ECD AUTOMOTIVE DESIGN INC 0.01% 75,000 $72K No change
CONNECTM TECHNOLOGY SOLUTION 0.00% 16,496 $20K No change

Options reported separately and not counted above: CHEVRON CORPORATION calls ($116.5M), SELECT SECTOR SPDR TR puts ($25.8M), CAPRI HOLDINGS LIMITED calls ($22.6M), UNITED STATES STL CORP NEW calls ($10.2M), CAPRI HOLDINGS LIMITED puts ($2.1M).

Other holdings (32): bonds, preferreds, convertibles and warrants · $639K (not counted above)
SecurityClassShares / PrincipalValueChange
SBCWW Pono Capital Two Inc. -27 *W EXP 09/17/202 363,000$87KNo change
NETDW Nabors Energy Transiti-CW *W EXP 09/01/202 429,903$69KNo change
ANSCW Agriculture & Natural Solu-W *W EXP 10/01/202 250,000$68KNo change
SLDPW Decarbonization Plus -CW23 *W EXP 12/08/202 147,808$67KNo change
ZEOWW Esgen Acquisition A -CW23 *W EXP 03/13/202 350,000$37KNo change
BTMWQ Bitcoin Depot Inc.-CW23 *W EXP 06/30/202 399,500$26KNo change
SVIRF Spring Valley Acquisit-Right RIGHT 02/25/2026 350,000$25KNo change
PDYNW Sarcos Technology -CW27 *W EXP 09/24/202 27,503$21KNo change
EMCRF Embrace Change Acq-Rights RIGHT 10/25/2026 180,000$20KNo change
PERFF Perfect Corp. *W EXP 10/28/202 230,000$20KNo change
KDKRW Ares Acquisition Corp. II-28 *W EXP 99/99/999 125,000$19KNo change
TALKW Hudson Executive Inv -CW25 *W EXP 06/21/202 122,765$18KNo change
SLND.WS Legato Merger Corp. II -CW23 *W EXP 02/14/202 70,000$17KNo change
ECD AUTOMOTIVE DESIGN INC *W EXP 12/12/202 990,000$17KNo change
ML.WS Moneylion Inc. -CW27 *W EXP 09/22/202 81,233$15KReduce -55.2%
ASBPW Aspire Biopharma Holdin-CW27 *W EXP 05/23/202 300,000$14KNo change
SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 250,000$13KNo change
AMBWQ Ambipar Emergency Respons-28 *W EXP 03/03/202 40,000$12KNo change
PLMWF Plum Acquisition Corp. III-CW *W EXP 03/31/202 50,000$10KNo change
SMNRW Denali Capital Acq-CW27 *W EXP 99/99/999 257,500$10KNo change
ZCARW Zoomcar Holdings Inc. *W EXP 05/31/202 432,700$8KNo change
LANWF Lanvin Group Holdings Ltd.-27 *W EXP 01/14/202 208,968$8KNo change
NKGNW Graf Acquisition Corp.-CW28 *W EXP 05/31/202 69,942$7KNo change
ISLWF Israel Acquisitions Corp.-28 *W EXP 99/99/999 150,868$6KNo change
KVAWF Keen Vision Acquisition C-28 *W EXP 03/15/202 100,000$5KNo change
VMCWF Valuence Merger Corp. -CW27 *W EXP 99/99/999 125,000$4KNo change
PPYAW Papaya Growth Opportuni-CW23 *W EXP 12/31/202 200,000$4KNo change
ABLVW Able View Global Inc.-28 *W EXP 08/18/202 325,000$4KNo change
SVUWF Srivaru Holding Ltd.-28 *W EXP 12/08/202 430,000$4KNo change
GATEW Marblegate Acquisition -CW22 *W EXP 08/31/202 92,203$3KNo change
EMCWF Embrace Change Acquisitio-26 *W EXP 10/25/202 180,000$2KNo change
IVAWF Investcorp India Acquisi -27 *W EXP 06/01/202 125,000$2KNo change

Total filed on the 13F, all lines: $1.3B.

Portfolio Sells Q3 2024 → Q4 2024
CTLT Catalent Inc. Sold out 0.00% −10.48
HES Hess Corp. Reduce -20.0% 18.17% −8.28
JNPR Juniper Networks Inc. Reduce -2.3% 10.83% −2.32
CPRI Capri Holdings Ltd. Reduce -81.3% 0.46% −2.17
ANSS Ansys Inc. Reduce -2.0% 17.32% −1.71
X United States Steel Corp. Reduce -82.3% 0.27% −1.51
SIMO Silicon Motion Technol-ADR Reduce -46.4% 0.50% −0.69
K Kellanova Reduce -11.2% 2.36% −0.66
ALX Alexander's Inc. Reduce -47.9% 0.28% −0.46
GBTG Global Business Travel Group Sold out 0.00% −0.36
SRCL Stericycle Inc. Sold out 0.00% −0.27
HUBS HubSpot Inc. Sold out 0.00% −0.20
SRPT Sarepta Therapeutics Inc. Sold out 0.00% −0.06
U Unity Software Inc. Reduce -13.3% 0.11% −0.04
EFXT Enerflex Ltd. Reduce -3.4% 1.33% +0.39

Portfolio Buys Q3 2024 → Q4 2024
DFS Discover Financial Services Add +1406.2% 15.93% +14.95
ALTM Arcadium Lithium PLC New 2.07% +2.07
FYBR Frontier Communications Pare Add +153.9% 3.23% +1.75
BERY Berry Global Group Inc. New 1.73% +1.73
AMED Amedisys Inc. Add +876.5% 1.73% +1.52
SUM Summit Materials Inc. Class A New 1.50% +1.50
AXONICS INC Add +0.0% 1.21% +1.21
HCP Hashicorp Inc. Class A Add +0.0% 0.88% +0.88
CBL CBL & Associates Properties Add +340.3% 0.92% +0.72
GNL Global Net Lease Inc. New 0.57% +0.57
ALE Allete Inc. Add +29.5% 4.29% +0.55
OMC Omnicom Group New 0.42% +0.42
CORZ Core Scientific Inc. Add +7.8% 3.22% +0.35
HSY The Hershey Co. New 0.26% +0.26
LTM Latam Airlines Group SA-ADR New 0.22% +0.22
CHX Championx Corp. Add +29.7% 6.03% +0.15
APD Air Products & Chemicals Inc. New 0.11% +0.11
ILMN Illumina Inc. New 0.05% +0.05
HNRG Hallador Energy Co. Add +5.7% 0.42% +0.05
ECHO Echostar Corp. Class A New 0.04% +0.04
OPTU Optimum Communications Inc. Class A Add +39.5% 0.25% +0.04
VTOL Bristow Group Inc. Add +4.9% 2.95% −0.29

Options Activity Q3 2024 → Q4 2024
CHEVRON CORPORATION call New 804,600 $116.5M
INVESCO QQQ TR put Sold out 100,000 $48.8Mbefore exit
SELECT SECTOR SPDR TR put Add +1408.5% 301,700 $25.8M
CAPRI HOLDINGS LIMITED call Add +25.0% 500,000 $22.6M
UNITED STATES STL CORP NEW call New 300,000 $10.2M
TAPESTRY INC call Sold out 200,000 $9.4Mbefore exit
CAPRI HOLDINGS LIMITED put Reduce -85.6% 100,000 $2.1M

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

Notes & Other Activity Q3 2024 → Q4 2024
FLDDW Fold Holdings Inc. -23 *W EXP 02/14/203 Sold out 752,750 $151Kbefore exit
QBTS.WS D-Wave Quantum Inc. -27 *W EXP 08/05/202 Sold out 199,500 $18Kbefore exit
PLAOW Patria Latin American-CW27 *W EXP 99/99/999 Sold out 375,000 $16Kbefore exit
BLEUACACIA LTD RIGHT 10/30/2026 Sold out 500,000 $16Kbefore exit
ML.WS Moneylion Inc. -CW27 *W EXP 09/22/202 Reduce -55.2% 81,233 $15K
GHIXW Gores Holding Ix -CW24 *W EXP 01/14/202 Sold out 150,000 $11Kbefore exit
RBOT.WS Vicarious Surgical Inc.-CW27 *W EXP 09/17/202 Sold out 230,000 $10Kbefore exit
JWSWF Jaws Mustang Acq C -CW26 *W EXP 01/30/202 Sold out 447,738 $10Kbefore exit
TLGWF TLGY Acquisition Corp. -23 *W EXP 11/09/202 Sold out 375,329 $9Kbefore exit
PHYWF PHYT WS -CW *W EXP 05/03/202 Sold out 150,000 $9Kbefore exit
NPABW New Providence Acq A -CW27 *W EXP 11/09/202 Sold out 196,618 $9Kbefore exit
FIACW Focus Impact Acquisit -CW23 *W EXP 99/99/999 Sold out 300,000 $8Kbefore exit
PSEWF Paysafe Ltd. -CW26 *W EXP 03/30/202 Sold out 275,000 $7Kbefore exit
BLEUACACIA LTD *W EXP 10/30/202 Sold out 250,000 $7Kbefore exit
EVTWF Vertical Aerospace Ltd. -CW26 *W EXP 12/16/202 Sold out 344,980 $6Kbefore exit
FNVWF Finnovate Acquisition -CW23 *W EXP 09/30/202 Sold out 239,999 $5Kbefore exit
SBXC.WS Silverbox Corp. III-28 *W EXP 02/28/202 Sold out 45,433 $5Kbefore exit
BCSAW Blockchain Coinvestors Acqui *W EXP 11/01/202 Sold out 200,000 $4Kbefore exit
ZPTAW Zapata Computing Hol- CW23 *W EXP 02/14/202 Sold out 109,262 $4Kbefore exit
XOSWW Xos Inc. -CW26 *W EXP 08/20/202 Sold out 133,332 $4Kbefore exit
CCGWW Cheche Group Inc. - 28 *W EXP 10/01/203 Sold out 239,102 $4Kbefore exit
TGAWF Target Global Acq I -CW27 *W EXP 12/08/202 Sold out 41,666 $3Kbefore exit
AEAEW Altenergy Acquisition -CW23 *W EXP 10/29/202 Sold out 229,395 $3Kbefore exit
DPCSW DP Cap Acquisition A -CW23 *W EXP 11/08/202 Sold out 125,000 $2Kbefore exit
ZAPWF Zapp Electric Vehicles -28 *W EXP 99/99/999 Sold out 200,000 $2Kbefore exit
HYZON MOTORS INC *W EXP 10/02/202 Sold out 86,560 $2Kbefore exit
MCAAW Mountain & Co. I Acq -CW23 *W EXP 09/30/202 Sold out 100,000 $1Kbefore exit
NVEI Nuvei Corp.-Subordinate VTG SUB VTG SHS Sold out 0 $0before exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$166.0MVTOL, CBL, BLD, ECHO, JHG
Q1 2026Amended 13$146.2MVTOL, CBL, HOLX, ECHO, GNL
Q4 2025Amended 21$271.1MVTOL, EXAS, CYBR, TGNA, HOLX
Q3 2025Amended 25$337.6MVTOL, CYBR, K, IPG, VRNA
Q2 2025Amended 39$865.3MHES, ANSS, JNPR, CORZ, FYBR
Q1 2025Amended 35$1.1BHES, JNPR, ANSS, DFS, ITCI
Q4 2024Amended 36$1.3BHES, ANSS, DFS, JNPR, CHX
Q3 2024Amended 29$1.1BHES, ANSS, JNPR, CTLT, CHX
Q2 2024Amended 34$1.2BHES, ANSS, CTLT, JNPR, CHX
Q1 2024Amended 26$778.0MHES, ANSS, PXD, FYBR, JNPR