Teramo Advisors, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 1, 2024), Teramo Advisors, LLC reported 6 stock positions worth $221.9 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 91.8% of the portfolio, followed by Rayonier (RYN, 4.6%) and Clearshares Ultra-Short Matu (OPER, 1.4%). Compared with Q2 2024, it sold out of 1 and added to 1. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +4%) and the biggest sale an exit from Shell PLC-ADR (SHEL).

Most Recent 13F
Q2 2026
Location
Naples, FL
CIK
0001904821
Portfolio Value
$221.9M (Q3 2024)
SEC Filing
0001172661-24-004451 ↗ filed Nov 1, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $200.0M Q1 2024 Q2 2024: $201.9M Q2 2024 Q3 2024: $221.9M $221.9M Q3 2024 Q4 2024: $235.1M Q4 2024 Q1 2025: $246.4M Q1 2025 Q2 2025: $274.4M Q2 2025 Q3 2025: $277.5M Q3 2025 Q4 2025: $335.7M Q4 2025 Q1 2026: $370.3M Q1 2026 Q2 2026: $409.8M Q2 2026

Holdings 6 stocks · $221.9M
SPY SS SPDR S&P 500 ETF Trust-US 91.81% 355,000 $203.7M Add +4.4%
RYN Rayonier Inc. 4.64% 320,000 $10.3M No change
OPER Clearshares Ultra-Short Matu 1.35% 30,000 $3.0M No change
PL Planet Labs PBC 1.14% 1,132,700 $2.5M No change
IVV iShares Core S&P 500 ETF 0.91% 3,500 $2.0M No change
XOM Exxon Mobil Corp. 0.15% 2,800 $328K No change

Options reported separately and not counted above: SPY puts ($86.1M).

Portfolio Sells Q2 2024 → Q3 2024
SHEL Shell PLC-ADR Sold out 0.00% −0.11

Portfolio Buys Q2 2024 → Q3 2024
SPY SS SPDR S&P 500 ETF Trust-US Add +4.4% 91.81% +0.17

Options Activity Q2 2024 → Q3 2024
SPY SS SPDR S&P 500 ETF Trust-US put Add +7.1% 150,000 $86.1M
QQQ Invesco QQQ Trust Series 1 put Sold out 22,500 $10.8Mbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 3$409.8MIVV, SPY, OPER
Q1 2026 3$370.3MIVV, SPY, OPER
Q4 2025 10$335.7MSPY, IVV, OPER, GOOGL, AAPL
Q3 2025 13$277.5MSPY, IVV, RSP, OPER, GOOGL
Q2 2025 22$274.4MSPY, IVV, RYN, PL, OPER
Q1 2025 19$246.4MSPY, RYN, PL, OPER, IVV
Q4 2024 6$235.1MSPY, RYN, PL, OPER, IVV
Q3 2024 6$221.9MSPY, RYN, OPER, PL, IVV
Q2 2024 7$201.9MSPY, RYN, OPER, PL, IVV
Q1 2024 7$200.0MSPY, IVV, IONQ, OPER, PL