TIG Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), TIG Advisors, LLC reported 57 stock positions worth $2.1 billion. Its top holding was Ste STR SPDR PT S&P 500 ETF (SPYM) at 23.0% of the portfolio, followed by Warner Bros Discovery (WBD, 6.5%) and Avidity Biosciences (RNAM, 6.3%). Compared with Q3 2025, it opened 30 new positions, sold out of 33, added to 15 and reduced 3. The biggest buy was a new position in Avidity Biosciences (RNAM) and the biggest sale an exit from Merus (MRUS).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001358253
- Portfolio Value
- $2.1B (Q4 2025)
- SEC Filing
- 0000919574-26-001203 ↗ filed Feb 17, 2026
Holdings Value
Holdings 57 stocks · $2.1B
| SPYM Ste STR SPDR PT S&P 500 ETF | 22.99% | 5,946,012 | $477.0M | Add +0.3% |
| WBD Warner Bros Discovery Inc. | 6.51% | 4,689,293 | $135.1M | Add +452.6% |
| RNAM Avidity Biosciences Inc. | 6.26% | 1,801,683 | $130.0M | New |
| CYBR Cyberark Software Ltd./Israel | 4.84% | 225,261 | $100.5M | Reduce -23.9% |
| SEE Sealed Air Corp. | 4.52% | 2,262,334 | $93.7M | New |
| FYBR Frontier Communications Pare | 4.36% | 2,378,747 | $90.6M | Add +42.5% |
| EXAS Exact Sciences Corp. | 4.33% | 883,843 | $89.8M | New |
| HOLX Hologic Inc. | 4.29% | 1,194,808 | $89.0M | Add +5094.8% |
| AVDL Avadel Pharmaceuticals Ltd. | 4.01% | 3,859,122 | $83.2M | New |
| EA Electronic Arts Inc. | 3.92% | 397,990 | $81.3M | Add +9.8% |
| DAY Dayforce Inc. | 3.49% | 1,047,802 | $72.5M | Add +1400.8% |
| NSC Norfolk Southern Corp. | 3.06% | 219,723 | $63.4M | Add +6.3% |
| CWAN Clearwater Analytics HDS-A | 3.04% | 2,612,498 | $63.0M | New |
| SUNC Sunococorp LLC | 2.63% | 1,108,063 | $54.6M | New |
| QRVO Qorvo Inc. | 2.08% | 511,748 | $43.2M | New |
| FOLD Amicus Therapeutics Inc. | 2.01% | 2,927,424 | $41.7M | New |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 2.00% | 645,058 | $41.4M | Add +292.1% |
| CFLT Confluent Inc. Class A | 1.99% | 1,366,662 | $41.3M | New |
| DBRG Digitalbridge Group Inc. | 1.94% | 2,628,284 | $40.3M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.88% | 57,198 | $39.0M | Add +0.3% |
| TECK Teck Resources Ltd.-CLS B | 1.16% | 503,569 | $24.1M | Add +105.1% |
| BA The Boeing Co. | 1.12% | 107,106 | $23.3M | Add +628.6% |
| PLYM Plymouth Industrial REIT Inc. | 0.95% | 897,937 | $19.6M | Reduce -38.3% |
| COMP Compass Inc. Class A | 0.94% | 1,837,781 | $19.4M | Add +4766.2% |
| KMB Kimberly-Clark Corp. | 0.93% | 190,796 | $19.2M | New |
| KVUE Kenvue Inc. | 0.80% | 966,502 | $16.7M | New |
| DVAX Dynavax Technologies Corp. | 0.55% | 742,263 | $11.4M | New |
| THS Treehouse Foods Inc. | 0.31% | 272,091 | $6.4M | New |
| OBA Oxley Bridge Acquisitio Class A | 0.29% | 601,704 | $6.1M | Add +118.8% |
| SGRY Surgery Partners Inc. | 0.27% | 364,373 | $5.6M | New |
| PSKY Paramount Skydance Class B | 0.27% | 416,082 | $5.6M | Add +383.7% |
| DMIIU Drugs Made in America Acquis | 0.24% | 500,000 | $5.0M | No change |
| LPCVU Launchpad Cadenza Acquisitio | 0.19% | 400,000 | $4.0M | New |
| ADACU American Drive Acquisition C | 0.19% | 400,000 | $4.0M | New |
| IRHOU Iron Horse Acquisition II Co. | 0.19% | 400,000 | $4.0M | New |
| TGNA Tegna Inc. | 0.18% | 190,480 | $3.7M | Reduce -75.7% |
| LWAC Lightwave Acquisition Corp. Class A | 0.15% | 315,406 | $3.2M | New |
| AXIN Axiom Intelligence Class A | 0.15% | 300,001 | $3.0M | New |
| EVOXU Evolution Global Acquisition | 0.11% | 223,738 | $2.2M | New |
| EGHA Egh Acquisition Co. Class A | 0.10% | 202,523 | $2.1M | New |
| SUN Sunoco LP | 0.09% | 35,100 | $1.8M | New |
| FIGX Figx Capital Acquisition C-A | 0.07% | 150,000 | $1.5M | No change |
| PACH Pioneer Acquisition I Class A | 0.07% | 150,000 | $1.5M | No change |
| HVMC Highview Merger Corp. Class A | 0.07% | 150,000 | $1.5M | No change |
| SEM Select Medical Holdings Corp. | 0.05% | 75,496 | $1.1M | New |
| BLRKU Bluerock Acquisition Corp. | 0.05% | 100,000 | $1.0M | New |
| MESHU Meshflow Acquisition Corp. | 0.05% | 100,000 | $1.0M | New |
| MBVI M3-Brigade Acquisition Class A | 0.05% | 100,000 | $1.0M | No change |
| ITHAU Ithax Acquisition Corp. III | 0.05% | 100,000 | $998K | New |
| LEG Leggett & Platt Inc. | 0.05% | 87,329 | $961K | New |
| CEPF Cantor Equity Partners Class A | 0.04% | 70,772 | $728K | No change |
| CEPV Cantor Equity Partners Class A | 0.02% | 50,000 | $513K | New |
| CAEP Cantor Equity Partners III-A | 0.02% | 50,000 | $510K | Add +100.0% |
| BLZR Trailblazer Acquisition Class A | 0.02% | 50,000 | $501K | No change |
| SSP Ew Scripps Co./the-A filed as SCRIPPS E W CO OHIO | 0.02% | 106,832 | $426K | New |
| FCRS.U Futurecrest Acquisition Corp. | 0.01% | 25,000 | $256K | No change |
| ONCH 1RT Acquisition Corp. Class A | 0.00% | 10,000 | $102K | No change |
Options reported separately and not counted above: WBD puts ($56.6M), WBD calls ($15.5M), DBRG calls ($5.3M), PSKY puts ($2.9M), CWAN puts ($2.4M), PTGX calls ($873K), STAA puts ($240K).
Other holdings (6): bonds, preferreds, convertibles and warrants · $109K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 137,500 | $30K | New |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | 74,999 | $20K | No change |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 74,999 | $20K | New |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 74,999 | $18K | New |
| MBVIW M3-Brigade Acquisition Vi Co. | *W EXP 08/18/203 | 33,330 | $12K | No change |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 16,663 | $8K | No change |
Total filed on the 13F, all lines: $2.1B.
Portfolio Sells Q3 2025 → Q4 2025
| MRUS Merus NV | Sold out | 0.00% | −5.05 |
| K Kellanova | Sold out | 0.00% | −4.77 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −4.19 |
| CYBR Cyberark Software Ltd./Israel | Reduce -23.9% | 4.84% | −3.99 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −3.54 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −2.81 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −2.77 |
| VRNT Verint Systems Inc. | Sold out | 0.00% | −2.36 |
| AVDX Avidxchange Holdings Inc. | Sold out | 0.00% | −2.02 |
| ETNB 89BIO Inc. | Sold out | 0.00% | −1.98 |
| TRML Tourmaline Bio Inc. | Sold out | 0.00% | −1.83 |
| BHF Brighthouse Financial Inc. | Sold out | 0.00% | −1.76 |
| HBI Hanesbrands Inc. | Sold out | 0.00% | −1.25 |
| OMC Omnicom Group | Sold out | 0.00% | −1.11 |
| PLYM Plymouth Industrial REIT Inc. | Reduce -38.3% | 0.95% | −1.06 |
| SNV Synovus Financial Corp. | Sold out | 0.00% | −0.87 |
| TGNA Tegna Inc. | Reduce -75.7% | 0.18% | −0.80 |
| CCRN Cross Country Healthcare Inc. | Sold out | 0.00% | −0.74 |
| PRA Proassurance Corp. | Sold out | 0.00% | −0.72 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.47 |
| ZIMV Zimvie Inc. | Sold out | 0.00% | −0.47 |
| HOUS Anywhere Real Estate Inc. | Sold out | 0.00% | −0.42 |
| SRDX Surmodics Inc. | Sold out | 0.00% | −0.37 |
| QXO Qxo Inc. | Sold out | 0.00% | −0.26 |
| FWRD Forward Air Corp. | Sold out | 0.00% | −0.21 |
| MTSR Metsera Inc. | Sold out | 0.00% | −0.19 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.16 |
| LWAY Lifeway Foods Inc. | Sold out | 0.00% | −0.13 |
| VISN Vistance Networks Inc. | Sold out | 0.00% | −0.11 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −0.09 |
| TASK Taskus Inc. Class A | Sold out | 0.00% | −0.09 |
| CTLP Cantaloupe Inc. | Sold out | 0.00% | −0.08 |
| PFGC Performance Food Group Co. | Sold out | 0.00% | −0.07 |
| CORZ Core Scientific Inc. | Sold out | 0.00% | −0.05 |
| UNP Union Pacific Corp. | Sold out | 0.00% | −0.03 |
| KDP Keurig Dr Pepper Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| RNAM Avidity Biosciences Inc. | New | 6.26% | +6.26 |
| WBD Warner Bros Discovery Inc. | Add +452.6% | 6.51% | +5.49 |
| SEE Sealed Air Corp. | New | 4.52% | +4.52 |
| EXAS Exact Sciences Corp. | New | 4.33% | +4.33 |
| HOLX Hologic Inc. | Add +5094.8% | 4.29% | +4.19 |
| AVDL Avadel Pharmaceuticals Ltd. | New | 4.01% | +4.01 |
| DAY Dayforce Inc. | Add +1400.8% | 3.49% | +3.20 |
| CWAN Clearwater Analytics HDS-A | New | 3.04% | +3.04 |
| SUNC Sunococorp LLC | New | 2.63% | +2.63 |
| QRVO Qorvo Inc. | New | 2.08% | +2.08 |
| FOLD Amicus Therapeutics Inc. | New | 2.01% | +2.01 |
| CFLT Confluent Inc. Class A | New | 1.99% | +1.99 |
| DBRG Digitalbridge Group Inc. | New | 1.94% | +1.94 |
| AL Sumisho Air Lease Corp. | Add +292.1% | 2.00% | +1.35 |
| KMB Kimberly-Clark Corp. | New | 0.93% | +0.93 |
| BA The Boeing Co. | Add +628.6% | 1.12% | +0.93 |
| COMP Compass Inc. Class A | Add +4766.2% | 0.94% | +0.92 |
| KVUE Kenvue Inc. | New | 0.80% | +0.80 |
| DVAX Dynavax Technologies Corp. | New | 0.55% | +0.55 |
| FYBR Frontier Communications Pare | Add +42.5% | 4.36% | +0.52 |
| TECK Teck Resources Ltd.-CLS B | Add +105.1% | 1.16% | +0.50 |
| THS Treehouse Foods Inc. | New | 0.31% | +0.31 |
| SGRY Surgery Partners Inc. | New | 0.27% | +0.27 |
| LPCVU Launchpad Cadenza Acquisitio | New | 0.19% | +0.19 |
| ADACU American Drive Acquisition C | New | 0.19% | +0.19 |
| IRHOU Iron Horse Acquisition II Co. | New | 0.19% | +0.19 |
| PSKY Paramount Skydance Class B | Add +383.7% | 0.27% | +0.17 |
| LWAC Lightwave Acquisition Corp. Class A | New | 0.15% | +0.15 |
| AXIN Axiom Intelligence Class A | New | 0.15% | +0.15 |
| OBA Oxley Bridge Acquisitio Class A | Add +118.8% | 0.29% | +0.12 |
| EVOXU Evolution Global Acquisition | New | 0.11% | +0.11 |
| EGHA Egh Acquisition Co. Class A | New | 0.10% | +0.10 |
| SUN Sunoco LP | New | 0.09% | +0.09 |
| SEM Select Medical Holdings Corp. | New | 0.05% | +0.05 |
| BLRKU Bluerock Acquisition Corp. | New | 0.05% | +0.05 |
| MESHU Meshflow Acquisition Corp. | New | 0.05% | +0.05 |
| ITHAU Ithax Acquisition Corp. III | New | 0.05% | +0.05 |
| LEG Leggett & Platt Inc. | New | 0.05% | +0.05 |
| CEPV Cantor Equity Partners Class A | New | 0.02% | +0.02 |
| SSP Ew Scripps Co./the-A | New | 0.02% | +0.02 |
| CAEP Cantor Equity Partners III-A | Add +100.0% | 0.02% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.3% | 1.88% | −0.47 |
| EA Electronic Arts Inc. | Add +9.8% | 3.92% | −0.60 |
| NSC Norfolk Southern Corp. | Add +6.3% | 3.06% | −0.77 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +0.3% | 22.99% | −5.68 |
Options Activity Q3 2025 → Q4 2025
| WBD Warner Bros Discovery Inc. | put | Add +118.1% | 1,962,700 | $56.6M |
| WBD Warner Bros Discovery Inc. | call | Add +439.2% | 539,200 | $15.5M |
| BA The Boeing Co. | call | Sold out | 50,000 | $10.8Mbefore exit |
| RKT Rocket Cos Inc. Class A | put | Sold out | 421,500 | $8.2Mbefore exit |
| CNM Core & Main Inc. Class A | call | Sold out | 100,000 | $5.4Mbefore exit |
| DBRG Digitalbridge Group Inc. | call | New | 346,800 | $5.3M |
| HOLX Hologic Inc. | call | Sold out | 70,900 | $4.8Mbefore exit |
| PLYM Plymouth Industrial REIT Inc. | put | Sold out | 156,500 | $3.5Mbefore exit |
| RKT Rocket Cos Inc. Class A | call | Sold out | 170,000 | $3.3Mbefore exit |
| PSKY Paramount Skydance Class B | put | New | 215,000 | $2.9M |
| EXAS Exact Sciences Corp. | call | Sold out | 49,700 | $2.7Mbefore exit |
| CWAN Clearwater Analytics HDS-A | put | New | 100,000 | $2.4M |
| VISN Vistance Networks Inc. | put | Sold out | 118,000 | $1.8Mbefore exit |
| BHP BHP Group Ltd.-Spon ADR | put | Sold out | 25,000 | $1.4Mbefore exit |
| CNM Core & Main Inc. Class A | put | Sold out | 25,000 | $1.3Mbefore exit |
| PZZA Papa John's Intl Inc. | call | Sold out | 25,000 | $1.2Mbefore exit |
| PTGX Protagonist Therapeutics Inc. | call | New | 10,000 | $873K |
| FWRD Forward Air Corp. | put | Sold out | 28,400 | $728Kbefore exit |
| CORZ Core Scientific Inc. | put | Sold out | 20,000 | $359Kbefore exit |
| STAA Staar Surgical Co. | put | New | 10,400 | $240K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | New | 137,500 | $30K |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | New | 74,999 | $20K |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | New | 74,999 | $18K |
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 | 82 | $2.2B | SPYM, BLD, JHG, NSC, ROKU |
| Q1 2026 | 90 | $2.1B | SPYM, CWAN, HOLX, WBD, JHG |
| Q4 2025 | 57 | $2.1B | SPYM, WBD, RNAM, CYBR, SEE |
| Q3 2025 | 60 | $1.6B | SPYM, CYBR, MRUS, K, EA |
| Q2 2025 | 45 | $1.8B | SPYM, HES, SWTX, SKX, AMED |
| Q1 2025 | 50 | $1.5B | BECN, K, ITCI, HES, AMED |
| Q4 2024 | 45 | $1.3B | K, HES, SMAR, SUM, ANSS |
| Q3 2024 | 39 | $1.5B | EDR, SRCL, JNPR, SQSP, NVEI |
| Q2 2024 | 42 | $1.2B | EDR, X, HCP, CTLT, WRK |
| Q1 2024 | 34 | $857.5M | X, PXD, EDR, ANSS, HES |