Whitebox Advisors LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Whitebox Advisors LLC reported 276 stock positions worth $1.8 billion. Its top holding was Chart Industries (GTLS) at 8.5% of the portfolio, followed by Penumbra (PEN, 7.9%) and Webster Financial (WBS, 7.3%). Compared with Q4 2025, it opened 83 new positions, sold out of 37, added to 22 and reduced 24. The biggest buy was a new position in Penumbra (PEN) and the biggest sale an exit from Cadence Bank (CADE).

Most Recent 13F
Q2 2026
Location
MINNEAPOLIS, MN
CIK
0001257391
Portfolio Value
$1.8B (Q1 2026)
SEC Filing
0001257391-26-000004 ↗ filed May 15, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $773.4M Q1 2024 Q2 2024: $745.0M Q2 2024 Q3 2024: $721.0M Q3 2024 Q4 2024: $579.3M Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.4B Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $1.8B $1.8B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 276 stocks · $1.8B
GTLS Chart Industries Inc. 8.52% 758,887 $156.9M Add +35.5%
PEN Penumbra Inc. 7.94% 445,001 $146.1M New
WBS Webster Financial Corp. 7.26% 1,925,001 $133.6M New
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) 6.00% 138,601,000 $110.5M Reduce -9.5%
LBRDK Liberty Broadband-C 4.04% 1,477,741 $74.3M Add +0.1%
VAL Valaris Ltd. 3.11% 583,937 $57.2M New
TERN Terns Pharmaceuticals Inc. 2.86% 1,000,001 $52.7M New
TFPM Triple Flag Precious Met 2.86% 1,518,950 $52.7M Reduce -0.5%
MASI Masimo Corp. 2.61% 270,001 $48.0M New
GPOR Gulfport Energy Corp. 2.52% 219,627 $46.5M Reduce -2.2%
WBD Warner Bros Discovery Inc. 2.41% 1,615,001 $44.3M Add +303.8%
CUK Carnival PLC-ADR 1.82% 1,300,036 $33.5M New
HEI.A Heico Corp. Class A 1.43% 124,737 $26.3M No change
CHRD Chord Energy Corp. 1.23% 159,476 $22.7M Reduce -8.6%
LITE Lumentum Holdings Inc. 1.17% 30,773 $21.6M New
SM SM Energy Co. 1.02% 602,301 $18.8M New
BLCO Bausch + Lomb Corp. 0.95% 1,101,854 $17.5M Add +15.8%
LBRDA Liberty Broadband-A 0.95% 348,076 $17.5M No change
GRFS Grifols SA-ADR 0.90% 2,067,798 $16.6M Reduce -21.1%
LLYVK Liberty Live Holdings Class C 0.83% 161,429 $15.2M New
DCH Dauch Corporation 0.74% 2,293,053 $13.6M Reduce -29.3%
FOX Fox Corp. Class B 0.51% 175,248 $9.3M Reduce -66.2%
CYH Community Health Systems Inc. 0.50% 3,127,884 $9.2M Add +42.1%
PPLI People Inc. filed as IAC INC 0.47% 217,383 $8.7M Add +71.8%
CSTM Constellium SE 0.46% 346,660 $8.5M Reduce -30.6%
VNME Vendome Acquisition Corp. Class A 0.45% 825,000 $8.3M No change
TACH Titan Acquisition Corp. Class A 0.45% 800,000 $8.2M No change
GIW GIGCAPITAL8 Corp. Class A 0.43% 800,000 $8.0M No change
IACOU Idea Acquisition Corp. 0.43% 797,378 $7.9M New
FERA Fifth Era Acquisition Corp. Class A 0.42% 750,000 $7.7M No change
HAVA Harvard Ave Acquisition Class A 0.41% 750,000 $7.5M New
UP Wheels Up Experience Inc. 0.40% 23,832,927 $7.4M No change
UAA Under Armour Inc. Class A 0.38% 1,186,792 $7.0M Reduce -8.8%
PONOU Pono Capital Four Inc. 0.38% 700,000 $7.0M New
MGM MGM Resorts International 0.38% 186,869 $6.9M Reduce -34.7%
XCBE X3 Acquisition Corp. Ltd. Class A 0.37% 700,000 $6.9M New
SZZL Sizzle Acquisition Corp. Class A 0.36% 650,000 $6.7M No change
SOUL Soulpower Acquisition Co. Class A 0.36% 650,000 $6.7M No change
BCAR D. Boral Arc Acquisit Class A 0.36% 650,000 $6.6M No change
WENN Wen Acquisition Corp. Class A 0.33% 600,000 $6.1M No change
HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP 0.32% 550,000 $5.9M No change
GT Goodyear Tire & Rubber Co. 0.31% 871,089 $5.8M Add +17.5%
FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III 0.31% 550,000 $5.6M No change
ACI Albertsons Cos Inc. Class A 0.30% 326,582 $5.6M Reduce -5.2%
BEP Brookfield Renewable Partner 0.30% 170,000 $5.5M No change
AACIU Armada Acquisition Corp. III 0.30% 550,000 $5.5M New
SIMA Sim Acquisition Corp. I-A 0.29% 500,000 $5.4M No change
RAAQ Real Asset Acquisiti Class A 0.29% 500,000 $5.3M No change
NPAC New Providence Acquisition-A 0.28% 500,000 $5.1M No change
SVC Service Pptys TR 0.28% 3,772,799 $5.1M Reduce -7.4%
YCY Aa Mission Acquisition-A 0.27% 500,000 $5.0M No change
RNGT Range Capital Acquisit Class A 0.27% 500,000 $5.0M No change
DBCA D. Boral Acquisition I Class A 0.27% 500,000 $4.9M New
ELBM Electra Battery Materials Co. 0.26% 8,200,099 $4.8M Reduce -4.3%
CCO Clear Channel Outdoor Holdin 0.26% 2,003,835 $4.7M Reduce -18.5%
CEPF Cantor Equity Partners Class A 0.25% 450,000 $4.6M No change
HACQU HCM IV Acquisition Corp. 0.25% 450,000 $4.5M New
ACAAU Averin Capital Acquisition C 0.24% 450,000 $4.5M New
DMII Drugs Made in America Acquis 0.24% 450,000 $4.5M No change
ILLUU Illumination Acquisition Cor 0.24% 450,000 $4.5M New
BEBE Tge Value Creative Solu Class A 0.24% 450,000 $4.4M No change
ALDF Aldel Financial II Inc. 0.23% 400,000 $4.2M No change
BEAG Bold Eagle Acquisition Cor-A 0.23% 400,000 $4.2M No change
CHAR Charlton Aria Acquisiti Class A 0.23% 399,000 $4.2M No change
DMAA Drugs Made in America Acquis 0.23% 400,000 $4.2M No change
DRDB Roman DBDR Acquisition Corp. 0.23% 400,000 $4.2M No change
SVCC Stellar V Capital Corp. Class A 0.23% 400,000 $4.2M No change
RAC Rithm Acquisition Corp. Class A 0.23% 400,000 $4.2M No change
CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II 0.22% 400,000 $4.1M No change
DAAQ Digital Asset Acquisiti Class A 0.22% 400,000 $4.1M No change
LKSP Lake Superior Acquisiti Class A 0.22% 405,103 $4.1M No change
NOEM CO2 Energy Transition Corp. 0.22% 390,000 $4.0M No change
EVAC Eqv Ventures Acquisition C-A 0.22% 400,000 $4.0M No change
EMIS Emmis Acquisition Corp. Class A 0.22% 400,000 $4.0M No change
KCAC.U Kensington Capital Acquisiti 0.22% 400,000 $4.0M New
MMTX Miluna Acquisition Class A 0.22% 400,000 $4.0M New
IPXGU Columbus Circle Capital Corp. 0.22% 400,000 $4.0M New
FGIIU FG Imperii Acquisition Corp. 0.22% 400,000 $4.0M New
CAQUU Cambridge Acquisition Corp. 0.22% 400,000 $4.0M New
PTORU Praetorian Acquisition Corp. 0.22% 400,000 $4.0M New
SORN Soren Acquisition Corp. Class A 0.21% 400,000 $4.0M New
NTWO Newbury Street II Ac Class A 0.21% 375,000 $3.9M No change
MLAA Mountain Lake Acquisiti Class A 0.21% 400,000 $3.9M New
ALOV Aldabra 4 Liquidity Opp Class A 0.21% 400,000 $3.9M New
BN Brookfield Corp. 0.21% 96,265 $3.9M New
RFAMU RF Acquisition Corp. III 0.21% 387,000 $3.8M New
XSLLU Xsolla Spac 1 0.21% 385,000 $3.8M New
NCMI National Cinemedia Inc. 0.21% 1,242,084 $3.8M No change
LPBB Launch Two Acquisition Class A 0.20% 350,000 $3.7M No change
IRAB Iris Acquisition Corp. I Class A 0.20% 375,200 $3.7M New
SIRI Sirius XM Holdings Inc. 0.19% 153,943 $3.6M Reduce -9.9%
OTGA Otg Acquisition Corp. I Class A 0.19% 350,000 $3.5M No change
TRAD.U Apex Tech Acquisition Inc. 0.19% 350,000 $3.5M New
FMACU Future Money Acquisition Cor 0.19% 350,000 $3.5M New
BWIV.U Blue Water Acquisition Corp. filed as BLUE WTR ACQUISITION CORP IV 0.19% 350,000 $3.5M New
IRHO Iron Horse Acquisitions Corp. 0.19% 350,000 $3.5M No change
ZKP Lafayette Digital Acquisitio 0.19% 350,000 $3.5M New
TDAC Translational Development Ac 0.18% 305,000 $3.2M No change
EWZ iShares MSCI Brazil ETF 0.17% 83,755 $3.2M Add +299.1%
TAVI Tavia Acquisition Corp. 0.17% 300,000 $3.2M No change
MLAC Mountain Lake Acquisition-A 0.17% 300,000 $3.2M No change
GSHR Gesher Acquisition Corp. II-A 0.17% 300,000 $3.1M No change
COPL Copley Acquisition Corp. Class A 0.17% 300,000 $3.1M No change
RDAG Republic Digital Acquis Class A 0.17% 300,000 $3.1M No change
IPCX Inflection Point Acquisiti-A 0.17% 300,000 $3.1M No change
TLNC Talon Capital Corp. Class A 0.17% 300,000 $3.1M No change
BHC Bausch Health Cos Inc. 0.17% 564,672 $3.0M Add +3.7%
PAII Pyrophyte Acquisition Corp. Class A 0.17% 300,000 $3.0M No change
PACH Pioneer Acquisition I Class A 0.17% 300,000 $3.0M No change
CLBR Colombier Acq III Class A 0.16% 300,000 $3.0M New
PAACU Proem Acquisition Corp. I 0.16% 300,000 $3.0M New
CTAAU Clearthink 1 Acquisition Cor 0.16% 300,000 $3.0M New
PALOU Paloma Acquisition Corp. I 0.16% 300,000 $3.0M New
CZR Caesars Entertainment Inc. 0.16% 113,165 $3.0M Add +8.7%
EVOX Evolution Global Acquis Class A 0.16% 300,000 $3.0M No change
AACOU Abony Acquisition Corp. I 0.16% 300,000 $3.0M New
APXT Apex Treasury Corp. Class A 0.16% 300,000 $3.0M No change
GPAC General Purpose Acquisit-A 0.16% 300,000 $3.0M No change
LEGO Legato Merger Corp. IV 0.16% 300,000 $3.0M New
ADAC American Drive Acquisit Class A 0.16% 300,000 $3.0M No change
LPCV Launchpad Cadenza Acqui Class A 0.16% 300,000 $3.0M No change
VHCP Vine Hill Capital Inves Class A 0.16% 300,000 $3.0M Reduce -50.0%
AEAQ Activate Energy Acquisitio-A 0.16% 300,000 $3.0M Add +50.0%
MESH Meshflow Acquisition Co. Class A 0.16% 300,000 $3.0M Add +50.0%
SVAQ Silicon Valley Acquisit Class A 0.16% 300,000 $3.0M No change
WPAC White Pearl Acquisition Co. Class A 0.16% 300,000 $3.0M New
CHEC Chenghe Acquisition II Class A 0.15% 275,000 $2.8M No change
NBRG Newbridge Acquisition Ltd. Class A 0.15% 280,000 $2.8M New
COLO Global X MSCI Colombia ETF 0.15% 69,042 $2.7M Add +6.1%
BIII Black Spade Acquisition Class A 0.15% 276,200 $2.7M New
TONT Graf Global Corp. Class A 0.15% 250,000 $2.7M No change
LPAA Launch One Acquisition Corp. 0.15% 250,000 $2.7M No change
PNI PIMCO NY Muni Inc. II FND 0.14% 387,958 $2.7M New
OACC Oaktree Acquisition Corp. I-A 0.14% 250,000 $2.6M No change
ONCH 1RT Acquisition Corp. Class A 0.14% 260,000 $2.6M No change
RANG Range Capital Acquisition Co. 0.14% 250,000 $2.6M No change
MYN BlackRock Muniyield NY QLTY 0.14% 273,687 $2.6M New
FACT Fact II Acquisition Corp. 0.14% 250,000 $2.6M No change
ATII Archimedes Tech Spac Partner 0.14% 250,000 $2.6M No change
NHIC Newhold Investment Cor III-A 0.14% 250,000 $2.6M No change
BLUW Blue Water Acquisition C-A filed as BLUE WTR ACQUISITION CORP. I 0.14% 250,000 $2.6M No change
UAC United Acquisition Corp. I-A 0.14% 260,000 $2.5M New
SPEG Silver Pegasus Acquisition-A 0.14% 250,000 $2.5M No change
OYSE Oyster Enterprises II Acq-A 0.14% 250,000 $2.5M No change
WSTN Westin Acquisition Corp. Class A 0.14% 250,000 $2.5M No change
LAFA Lafayette Acquisition Corp. 0.14% 250,000 $2.5M No change
SAC Safeguard Acquisition C Class A 0.14% 250,000 $2.5M No change
MZYX.U Mozayyx Acquisition Corp. 0.14% 250,000 $2.5M New
NSTR Northstar Earth & Space Ente filed as VIKING ACQUISITION CORP I 0.13% 250,000 $2.5M No change
IGAC Invest Green Acquisitio Class A 0.13% 250,000 $2.5M No change
MUZE Muzero Acquisition Corp. Class A 0.13% 250,000 $2.5M New
MEVO M Evo Global Acquisitio Class A filed as M EVO GBL ACQUISITION CORP I 0.13% 250,000 $2.5M New
XPCQX PIMCO California Muni Inc. FD 0.13% 284,471 $2.4M Add +45.5%
CWEN.A Clearway Energy Inc. Class A 0.13% 60,542 $2.4M New
KFII K&F Growth Acquisition Cor-A 0.13% 225,000 $2.3M No change
LCCC Lakeshore Acquisition III Co. 0.12% 218,500 $2.3M No change
BLRK Bluerock Acquisition Corp. Class A 0.12% 218,525 $2.2M No change
CRAN Crane Harbor Acquisitio Class A 0.12% 217,635 $2.2M No change
POLE Andretti Acquisition Corp. Class A 0.12% 200,000 $2.1M No change
SCPQ Social Commerce Partner Class-A 0.12% 214,400 $2.1M No change
CEPO Cantor Equity Partners I-A 0.11% 200,000 $2.1M No change
SSAC Spacsphere Acquisition Class A 0.11% 212,043 $2.1M New
ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII 0.11% 200,000 $2.1M No change
XRPN Armada Acquisition Class A 0.11% 200,000 $2.1M No change
SBXE Silverbox Corp. V Class A 0.11% 206,900 $2.1M No change
TVAI Thayer Ventures Acquis Class A 0.11% 200,000 $2.0M No change
ENHA Enhanced Group Inc. filed as A PARADISE ACQUISITION CORP 0.11% 200,000 $2.0M No change
TMTSU Spartacus Acqu Corp. II 0.11% 200,000 $2.0M New
FVAV Fortress Value Acquis V Class A 0.11% 200,000 $2.0M New
GLED.U Galaxyedge Acquisition Corp. 0.11% 200,000 $2.0M New
BPAC Blueport Acquisition LT Class A 0.11% 200,000 $2.0M No change
KPET.U Kpet Ultra Paceline Corp. 0.11% 200,000 $2.0M New
LATA Galata Acqu Corp. II Class A 0.11% 200,000 $2.0M No change
ALUB Alussa Energy Acquisit II-A 0.11% 200,000 $2.0M No change
ALIS Calisa Acquisition Corp. 0.11% 200,000 $2.0M No change
TRGSU TRG Latin America Acquisitio 0.11% 200,000 $2.0M New
BIXI Bitcoin Infrastructure Class A 0.11% 200,000 $2.0M No change
DNMX Dynamix Corp. III Class A 0.11% 200,000 $2.0M No change
DSAC Daedalus Special Acquis Class A 0.11% 200,000 $2.0M No change
KTWO K2 Capital Acquisition Class A filed as K2 CAP ACQUISITION CORP 0.11% 200,000 $2.0M New
SVIV Spring Valley Acquisitio-A 0.11% 200,000 $2.0M New
KRAQ Krakacquisition Corp. Class A 0.11% 200,000 $2.0M New
LEO BNY Mellon Strategic Muni 0.10% 305,421 $1.9M No change
CXE MFS High Income Municipal TR 0.10% 512,763 $1.9M No change
JACS Jackson Acquisition Co. Class A 0.10% 175,000 $1.9M No change
SABR Sabre Corp. 0.10% 1,272,216 $1.8M New
ILF iShares Latin America 40 ETF 0.10% 50,841 $1.8M New
EWW iShares MSCI Mexico ETF 0.10% 23,965 $1.8M Reduce -24.5%
MBI Mbia Inc. 0.10% 304,461 $1.8M No change
BACC Blue Acquisition Corp. Class A 0.10% 175,000 $1.8M No change
INAC Indigo Acquisition Corp. 0.10% 175,000 $1.8M No change
R Ryder System Inc. 0.10% 8,702 $1.8M Reduce -7.8%
AXIN Axiom Intelligence Class A 0.10% 175,000 $1.8M No change
NWSA News Corp. Class A 0.09% 68,507 $1.7M Reduce -72.4%
WLAC Willow Lane Acquisition Class A 0.09% 150,000 $1.6M No change
CEPT Cantor Equity Partners Class A 0.09% 145,000 $1.6M No change
SBI Western Asset Intermediate 0.09% 204,801 $1.6M No change
WTG Wintergreen Acquisition Corp. 0.08% 150,000 $1.5M No change
CHPG Championsgate Acquisitio-A 0.08% 150,000 $1.5M No change
JENA Jena Acquisition Corp. II - A 0.08% 150,000 $1.5M No change
EGHA Egh Acquisition Co. Class A 0.08% 150,000 $1.5M No change
GTERA Globa Terra Acquisition Co. Class A 0.08% 150,000 $1.5M No change
GFUZ General Fusion Group Ltd. filed as SPRING VY ACQUISITION CORP I 0.08% 150,000 $1.5M No change
CRAQ Cal Redwood Acquisit Class A 0.08% 150,000 $1.5M No change
SSEA Starry Sea Acquisition Corp. 0.08% 150,000 $1.5M No change
FIGX Figx Capital Acquisition C-A 0.08% 150,000 $1.5M No change
FCRS Futurecrest Acquisition Class A 0.08% 150,000 $1.5M No change
MBVI M3-Brigade Acquisition Class A 0.08% 150,000 $1.5M No change
KOYN CSLM Digital Asset Acqu - A 0.08% 150,000 $1.5M No change
BBCQ Bleichroeder Acquis II Class A 0.08% 150,000 $1.5M New
MERC Mercer International Inc. 0.08% 1,057,658 $1.5M Add +54.2%
HCAC Hall Chadwick Acquisition-A 0.08% 150,000 $1.5M No change
TWLV Twelve Seas Investment Co. Class A 0.08% 150,000 $1.5M No change
DYOR Insight Digital Partners I-A 0.08% 145,682 $1.5M No change
HCICU Hennessy Capital Investment 0.08% 144,434 $1.4M New
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP 0.08% 130,000 $1.4M No change
CAR Avis Budget Group Inc. 0.08% 9,491 $1.4M Reduce -14.4%
USAS Americas Gold and Silver Cor 0.07% 250,000 $1.3M No change
IPEX Inflection Point Acquisition 0.07% 125,000 $1.3M No change
CAEP Cantor Equity Partners III-A 0.07% 125,000 $1.3M No change
CCII Cohen Circle Acquisit II - A 0.07% 125,000 $1.3M No change
LWAC Lightwave Acquisition Corp. Class A 0.07% 125,000 $1.3M No change
ARTC Art Technology Acquisit Class A 0.07% 126,066 $1.2M New
AFB Allianceberstein NTL Muni 0.07% 113,648 $1.2M No change
HRI Herc Holdings Inc. filed as HERC HLDGS INC 0.07% 12,130 $1.2M Add +45.6%
IHRT Iheartmedia Inc. Class A 0.06% 400,000 $1.2M Add +220.0%
COMP Compass Inc. Class A 0.06% 154,894 $1.1M New
HPP Hudson Pacific Properties Inc. 0.06% 189,080 $1.1M Add +1618.4%
CUB Lionheart Holdings Class A 0.06% 100,000 $1.1M No change
FVN Future Vision II Acquisition 0.06% 100,000 $1.1M No change
PLMK Plum Acquisition Corp. IV 0.06% 100,000 $1.1M No change
FISV Fiserv Inc. 0.06% 18,702 $1.0M Add +22.2%
SOCA Solarius Capital Acquis Class A 0.06% 100,000 $1.0M No change
CCXI Churchill Capital Corp. Class A 0.06% 100,000 $1.0M No change
OBA Oxley Bridge Acquisitio Class A 0.06% 100,000 $1.0M No change
MCGA Yorkville Acquisition Corp. Class A 0.05% 100,000 $1.0M No change
WLIIU Willow Lane Acquisition Corp. 0.05% 100,000 $1.0M New
MTAL.U Metals Acquisition Corp. II 0.05% 100,000 $1.0M New
HCMA HCM III Acquisition Cor Class A 0.05% 100,000 $1.0M No change
HVMC Highview Merger Corp. Class A 0.05% 100,000 $1.0M No change
BLZR Trailblazer Acquisition Class A 0.05% 100,000 $1.0M No change
MKLY McKinley Acquisition Co. Class A 0.05% 100,000 $1.0M No change
SUMAU Suma Acquisition Corp. 0.05% 100,000 $1.0M New
BDCI BTC Development Corp. Class A 0.05% 100,000 $999K No change
SCII SC II Acquisition Corp. Class A 0.05% 100,000 $997K No change
OIM Oneim Acquisition Class-A 0.05% 100,000 $996K New
SAAQ Space Asset Acquisition Class A 0.05% 100,000 $996K New
TDWD Tailwind 2.0 Acquisitio Class A 0.05% 100,000 $992K No change
QADRU Qdro Acquisition Corp. 0.05% 100,000 $991K New
ITHA Ithax Acquisition Corp. Class A 0.05% 100,000 $990K No change
ARCI Archimedes Tech Spac Partner 0.05% 100,000 $985K New
WHR Whirlpool Corp. 0.05% 17,413 $939K Add +33.8%
PSFE Paysafe Ltd. 0.04% 120,335 $819K New
CEPS Cantor Equity Partners Vi -A 0.04% 75,000 $758K New
LFAC Leapfrog Acquisition Class A 0.04% 75,000 $744K No change
PENN Penn Entertainment Inc. 0.04% 49,065 $737K New
CE Celanese Corp. 0.04% 11,206 $737K Reduce -47.2%
PCAP Procap Acquisition Corp. Class A 0.04% 70,281 $716K No change
FUN Six Flags Entertainment Corp. 0.04% 40,180 $713K Reduce -13.0%
ACHC Acadia Healthcare Co. Inc. 0.04% 29,955 $701K Reduce -36.9%
MFM Aberdeen Municipal Income 0.04% 125,000 $674K No change
IPFXU Inflection Point Acquisition 0.03% 56,400 $571K New
CEPV Cantor Equity Partners Class A 0.03% 50,000 $505K No change
VSXY Victoria's Secret & Co. 0.03% 10,890 $505K Add +7.4%
NBR Nabors Industries Ltd. 0.03% 5,632 $485K New
KLXE KLX Energy Services Holding 0.03% 179,058 $466K Add +5.2%
MHD BlackRock Muniholdings Fund 0.02% 39,677 $448K New
NWAX New America Acquisition Class A 0.02% 35,000 $350K No change
FMC FMC Corp. 0.02% 17,622 $303K Reduce -63.8%
BAX Baxter International Inc. 0.02% 17,130 $288K New
PCG P G & E Corp. 0.01% 15,000 $264K No change
DC Dakota Gold Corp. 0.01% 34,872 $176K New
UCFI CN Healthy Food Tech Group C 0.01% 30,000 $165K No change
LUMN Lumen Technologies Inc. 0.01% 20,000 $139K New
PRGO Perrigo Co. PLC 0.01% 10,360 $111K New
DISTOKEN ACQUISITION CORP 0.00% 100,000 $1K No change

Options reported separately and not counted above: SPY puts ($325.2M), IWM puts ($186.0M), NVDA puts ($139.5M), SMCI puts ($104.7M), TSM puts ($67.6M), IBIT puts ($57.6M), NBIS puts ($51.9M), AAPL puts ($50.8M), MARA puts ($35.7M), WBD puts ($30.2M), TSLA puts ($27.9M), TERN puts ($26.4M), and 11 more.

Other holdings (274): bonds, preferreds, convertibles and warrants · $5.2B (not counted above)
SecurityClassShares / PrincipalValueChange
WESTERN DIGITAL CORP (WDC 3 11/15/28) NOTE 3.000%11/1 · principal 204,400,000$1.5BNo change
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal 71,025,000$716.1MNo change
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal 102,197,086$365.1MAdd +86.0%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) NOTE 0.500%12/1 · principal 32,097,500$226.9MReduce -10.3%
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 159,900,000$221.8MAdd +6.7%
SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) NOTE 3.500%12/0 · principal 64,504,000$216.8MReduce -3.2%
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal 142,807,000$174.7MAdd +14.0%
SNOWFLAKE INC (SNOW 0 10/01/27) NOTE 10/0 · principal 137,450,000$162.3MAdd +1.9%
APPLIED DIGITAL CORP (APLD 2.75 06/01/30) NOTE 2.750% 6/0 · principal 60,800,000$161.2MNo change
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal 131,732,000$136.3MAdd +11.8%
STRATEGY INC (MSTR 2.25 06/15/32) NOTE 2.250% 6/1 · principal 112,000,000$114.2MAdd +0.5%
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 120,456,000$111.6MAdd +33.8%
CENTRUS ENERGY CORP (LEU 2.25 11/01/30) NOTE 2.250%11/0 · principal 45,600,000$92.5MNo change
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal 77,237,000$74.0MAdd +19.3%
STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal 86,050,000$71.8MAdd +6.2%
JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) NOTE 2.500% 9/0 · principal 72,371,000$69.6MReduce -14.9%
UPSTART HOLDINGS INC (UPST 2 10/01/29) NOTE 2.000%10/0 · principal 64,900,000$63.3MReduce -7.3%
MARA HOLDINGS INC (MARA 0 03/01/30) NOTE 3/0 · principal 69,850,000$61.6MNo change
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal 40,762,000$51.3MReduce -14.2%
MARA HOLDINGS INC (MARA 0 06/01/31) NOTE 6/0 · principal 52,000,000$47.7MReduce -29.7%
STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal 42,000,000$46.0MAdd +13.5%
STRATEGY INC (MSTR 0 03/01/30) NOTE 3/0 · principal 51,782,000$45.2MNew
UPSTART HOLDINGS INC (UPST 1 11/15/30) NOTE 1.000%11/1 · principal 60,730,000$43.0MNo change
MARA HOLDINGS INC (MARA 2.125 09/01/31) NOTE 2.125% 9/0 · principal 49,950,000$42.3MAdd +19.1%
ORACLE CORP (ORCL 6.5 01/15/29 D) 6.5 DEP CUM SR D 900,000$40.5MNew
OMEROS CORP (OMER 9.5 06/15/29) NOTE 9.500% 6/1 · principal 18,033,000$36.4MNo change
HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal 29,321,000$35.0MReduce -9.3%
WOLFSPEED INC (WOLF 2.5 06/15/31) NOTE 2.500% 6/1 · principal 21,545,000$31.2MAdd +3.2%
WAYFAIR INC (W 3.5 11/15/28) NOTE 3.500%11/1 · principal 17,900,000$31.2MReduce -37.3%
CLEANSPARK INC (CLSK 0 06/15/30) NOTE 6/1 · principal 28,635,000$27.6MReduce -36.6%
SUNRUN INC (RUN 4 03/01/30) NOTE 4.000% 3/0 · principal 20,650,000$24.6MReduce -30.1%
IREN LTD (IREN 3.25 06/15/30) NOTE 3.250% 6/1 · principal 9,764,000$22.1MNo change
AMC GLOBAL MEDIA INC (AMCX 4.25 02/15/29 *) NOTE 4.250% 2/1 · principal 23,730,000$21.0MNo change
FLUENCE ENERGY INC (FLNC 2.25 06/15/30) NOTE 2.250% 6/1 · principal 20,000,000$20.1MNew
PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) NOTE 1.500% 9/1 · principal 13,274,000$17.7MReduce -24.1%
GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) NOTE 3.250% 6/1 · principal 10,000,000$16.4MNo change
NABORS INDUSTRIES INC (NBR 1.75 06/15/29) NOTE 1.750% 6/1 · principal 17,000,000$15.4MReduce -43.1%
STRATEGY INC (MSTR 0.875 03/15/31) NOTE 0.875% 3/1 · principal 12,596,000$12.1MReduce -3.8%
XEROX HOLDINGS CORP (XRX 3.75 03/15/30) NOTE 3.750% 3/1 · principal 44,600,000$10.4MNo change
NIO INC (NIO 4.625 10/15/30) NOTE 4.625%10/1 · principal 10,000,000$9.9MNo change
HERTZ CORP/THE (HTZ 8 07/15/29) NOTE 8.000% 7/1 · principal 9,255,994$9.0MAdd +4.0%
UPSTART HOLDINGS INC (UPST 0.25 08/15/26) NOTE 0.250% 8/1 · principal 7,604,000$7.5MNo change
SEMTECH CORP (SMTC 1.625 11/01/27) NOTE 1.625%11/0 · principal 3,500,000$7.4MNo change
GROUPON INC (GRPN 6.25 03/15/27 *) NOTE 6.250% 3/1 · principal 6,300,000$6.3MNo change
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) NOTE 0.250%10/0 · principal 5,000,000$6.2MNo change
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal 6,500,000$5.1MAdd +30.0%
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 5,000,000$4.9MNew
NUTANIX INC (NTNX 0.5 12/15/29) NOTE 0.500%12/1 · principal 5,000,000$4.5MNew
EVOLENT HEALTH INC DEBT 4.500% 8/1 · principal 8,500,000$4.2MReduce -26.1%
T1 ENERGY INC (TE 5.25 12/01/30) NOTE 5.250%12/0 · principal 3,000,000$3.1MReduce -50.0%
VERITONE INC (VERI 1.75 11/15/26) NOTE 1.750%11/1 · principal 1,600,000$1.5MNo change
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) DEB 3.750% 2/1 · principal 43,663,000$1.3MNo change
IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 1,117,500$1.1MNo change
GME.WS Gamestop Corp. *W EXP 10/30/202 286,722$1.1MNo change
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) DEB 4.000%11/1 · principal 21,809,000$872KNo change
NUCLW Eagle Nuclear Energy Corp. *W EXP 02/25/203 459,345$638KNew
WLACW Willow Lane Acquisition - 29 *W EXP 10/31/203 186,827$542KNo change
KYIVW Kyivstar Group Ltd. -30 *W EXP 08/14/203 100,000$365KNo change
RAAQW REAL ASSET AQC Corp -30 *W EXP 04/24/203 250,000$333KNo change
XRXDW Xerox Holdings Corp. *W EXP 02/11/202 3,474,536$314KNew
HDRNW GIGCAPITAL7 Corp.-A - 29 *W EXP 08/29/202 804,500$256KNo change
CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 69,750$243KNo change
GIWWR GIGCAPITAL8 Corp.-RTS RIGHT 09/30/2030 800,000$240KNo change
FERAR Fifth Era Acquisition Corp. I RIGHT 02/21/2030 750,000$225KNo change
BCARW D Boral Arc Acquisition - 30 *W EXP 07/23/203 325,000$192KNo change
FACWW Cartesian Growth Corp. -30 *W EXP 05/02/203 275,000$187KNo change
VCICW Vine Hill Capital Class A-2 *W EXP 07/01/203 132,500$162KNo change
DRTSW Alpha Tau Medical Ltd. -27 *W EXP 99/99/999 136,018$136KNo change
TACHW Titan Acquisition Corp -30 *W EXP 05/16/203 400,000$133KNo change
SOULPOWER ACQUISITION CORP RIGHT 99/99/9999 650,000$117KNo change
SZZLR Sizzle Acquisition Corp. -RTS RIGHT 04/02/2030 650,000$111KNo change
ALISR Calisa Acquisition Corp. RIGHT 09/11/2030 200,000$110KNo change
IPCXR Inflection Point Acquisition RIGHT 04/25/2030 300,000$105KNo change
VNMEW Vendome Acquisition Corp. I *W EXP 07/03/202 412,500$103KNo change
WENNW Wen Acquisition Corp.-A -31 *W EXP 99/99/999 300,000$96KNo change
APADR A Paradise Acquisition Corp. RIGHT 07/29/2025 200,000$90KNo change
HAVAR Harvard Ave Acquisition RIGHT 99/99/9999 750,000$90KNo change
RNGTW Range Capital Acquisition Co. *W EXP 09/29/203 250,000$90KNo change
BULLW Webull Corp.-30 *W EXP 04/10/203 64,397$88KNo change
CCAQW Dune Acquisition Corp. II -30 *W EXP 04/04/203 300,000$87KNo change
RAC.WS Rithm Acquisition Corp. - 30 *W EXP 99/99/999 133,333$85KNo change
XCBEW X3 Acquisition Corp. Ltd. *W EXP 12/19/203 350,000$84KNew
BEAGR Bold Eagle Acquisition Corp. RIGHT 10/11/2029 400,000$84KNo change
FTW.WS Presidio Pubco Inc. *W EXP 03/04/203 99,997$81KNew
VWAVW Visionwave Holdings Inc. *W EXP 07/14/203 93,000$80KNo change
BZAIW Burtech Acquisition -CW23 *W EXP 01/13/203 209,250$80KNo change
MLACR Mountain Lake Acquisition Co. RIGHT 11/15/2028 300,000$78KNo change
WHITE PEARL ACQUISITION CORP RIGHT 09/10/2030 300,000$78KNew
IPEXR Inflection Point Acquisition RIGHT 99/99/9999 125,000$76KNo change
OPTXW Omnilit Acquisition Class A -23 *W EXP 99/99/999 69,750$75KNo change
DAAQW Digital Asset Acquisition-30 *W EXP 04/01/203 200,000$75KNo change
DBCAW D. Boral Acquisition I Corp. *W EXP 01/30/203 250,000$75KNew
RANGR Range Capital Acquisition Co. RIGHT 99/99/9999 250,000$75KNo change
ALDFW Aldel Financial II Inc. - 29 *W EXP 09/26/203 200,000$70KNo change
LKSPR Lake Superior Acquisition Co. RIGHT 09/19/2030 57,871$67KNo change
NOEMR CO2 Energy Transition Co.-RTS RIGHT 10/15/2028 390,000$66KNo change
RDAGW Republic Digital Acqu - 30 *W EXP 05/01/203 150,000$66KNo change
BEBE.WS Tge Value Creative Solutions *W EXP 09/16/203 225,000$65KNo change
ATIIW Archimedes Tech-30 *W EXP 10/15/202 125,000$64KNo change
NUAIW New Era Helium Inc. -29 *W EXP 12/06/202 34,875$63KNo change
BLUWW Blue Water Acquisition-CW26 *W EXP 05/23/203 125,000$63KNo change
SIMAW Sim Acquisition Corp. - 29 *W EXP 06/01/203 250,000$63KNo change
SPEGR Silver Pegasus Acquisition C RIGHT 06/26/2030 250,000$62KNo change
ALOVW Aldabra 4 Liquidity Opportun *W EXP 12/23/203 133,333$60KNew
EVOXW Evolution Global Acquisition *W EXP 10/22/203 150,000$60KNew
XRPNW Armada Acquisition Corp - A *W EXP 05/21/203 100,000$60KNo change
IRAB.WS Iris Acq Corp. II -31 *W EXP 08/15/203 187,600$58KNew
HVIIR Hennessy Capital Investment RIGHT 01/17/2030 200,000$57KNo change
EMISR Emmis Acquisition Corp. RIGHT 09/12/2030 400,000$56KNo change
CHARR Charlton Aria Acquisi-Rights RIGHT 12/31/2026 399,000$56KNo change
COLAR Columbus Acquisition Corp. RIGHT 99/99/9999 150,000$54KNo change
BACCR Blue Acquisition Corp.-RTS RIGHT 06/11/2030 175,000$53KNo change
WSTNR Westin Acquisition Corp.-RTS RIGHT 09/17/2030 250,000$53KNo change
GFUZW Spring Valley Acq Co. -30 *W EXP 09/04/203 50,000$52KNo change
NHICW Newhold Investment Corp. - 30 *W EXP 01/30/203 125,000$51KNo change
FACTW Fact II Acquisition Corp. -29 *W EXP 11/26/203 125,000$50KNo change
SAC.WS Safeguard Acquisition Corp. *W EXP 99/99/999 125,000$50KNo change
TLNCW Talon Capital Corp.-30 *W EXP 08/27/203 100,000$50KNo change
IRHOR Iron Horse Acquisiti- Rights RIGHT 07/11/2030 350,000$50KNo change
PAII.WS Pyrophyte Acquisition Corp. I *W EXP 07/30/203 150,000$50KNo change
MMTXW Miluna Acquisition Corp. *W EXP 09/29/203 400,000$48KNo change
BBCQW Bleichroeder Acquisition Cor *W EXP 12/23/203 50,000$48KNew
IGACR Invest Green Acquisition-RTS RIGHT 11/17/2030 250,000$48KNo change
SVCCW Stellar V Capital Corp.-Class-29 *W EXP 10/15/202 200,000$44KNo change
OTGAW Otg Acquisition Corp. I - 30 *W EXP 09/05/203 175,000$44KNo change
NOEMW CO2 Energy Transition -28 *W EXP 08/17/202 390,000$43KNo change
SVAQW Silicon Valley Acquisition C *W EXP 12/08/203 150,000$43KNo change
SORNW Soren Acquisition Corp. *W EXP 12/19/203 133,333$43KNew
MEVOW M Evo Global Acq -31 *W EXP 02/18/203 125,000$43KNew
DRDBW Roman DBDR Acquisition -30 *W EXP 10/31/203 200,000$42KNo change
KTWOR K2 Capital Acquisition C-RTS RIGHT 07/30/2027 200,000$42KNew
KFIIR K&F Growth Acquisition Corp. RIGHT 08/29/2031 225,000$41KNo change
YCY.WS Aa Mission Acquisition -31 *W EXP 07/23/203 250,000$40KNo change
EVAC.WS Eqv Ventures Acquisition Cor *W EXP 06/30/203 133,333$40KNo change
TVAIR Thayer Ventures Acquisition RIGHT 05/15/2030 200,000$40KNo change
VHCPW Vine Hill Capital Investment *W EXP 11/25/203 100,000$40KAdd +0.1%
GSHRW Gesher Acquisition Corp. I-30 *W EXP 10/31/203 150,000$39KNo change
LCCCR Lakeshore Acquisition III Co. RIGHT 08/01/2026 218,500$39KNo change
CRANR Crane Harbor Acquisition-RTS RIGHT 12/09/2030 217,635$39KNo change
TAVIR Tavia Acquisition Corp. RIGHT 11/26/2029 300,000$39KNo change
SSACR Spacsphere Acquisition C-RTS RIGHT 02/06/2031 212,043$38KNew
BPACR Blueport Acquisition Ltd. R RIGHT 02/13/2027 200,000$38KNo change
EGHAR Egh Acquisition Corp.-RTS RIGHT 99/99/9999 150,000$38KNo change
OACCW Oaktree Acquisition III -31 *W EXP 09/01/203 50,000$38KNo change
CLBR.WS Colombier Acquisition - 31 *W EXP 12/31/203 37,500$37KNew
SVIVW Spring Valley Acquisition Co. *W EXP 01/22/203 50,000$37KNew
NBRGR Newbridge Acquisitio- Rights RIGHT 09/25/2030 280,000$36KNew
GPACW General Purpose Acquisition *W EXP 12/03/203 150,000$36KNo change
APXTW Apex Treasury Corp. -30 *W EXP 10/07/203 150,000$36KNo change
DMIIR Drugs Made in America Acq-RT RIGHT 09/16/2030 450,000$36KNo change
HCACR Hall Chadwick Acquisi-Rights RIGHT 11/20/2030 150,000$36KNo change
UAC.WS United Acquisition Corp. I *W EXP 99/99/999 65,000$36KNew
LPAAW Launch One Acquisition - 29 *W EXP 06/01/203 255,571$35KNo change
BKHAR Black Hawk Acquisition C-RTS RIGHT 06/20/2025 25,000$34KNo change
NTWOW Newbury Street II Acq - 29 *W EXP 06/01/203 187,500$34KNo change
AXINR Axiom Intelligence Acquisiti RIGHT 06/10/2030 175,000$33KNo change
AEAQW Activate Energy Acquisition *W EXP 11/10/203 100,000$33KNo change
CRAQR Cal Redwood Acquisition Corp. RIGHT 05/15/2030 150,000$33KNo change
CHECW Chenghe Acquisition III Co. *W EXP 09/09/203 137,500$33KNo change
BIII.WS Black Spade Acquisition III *W EXP 99/99/999 92,066$32KNew
LEGO.WS Legato Merger Corp. IV *W EXP 99/99/999 100,000$32KNew
HOVRW Pono Capital Three Inc.-A-28 *W EXP 02/14/202 100,000$32KNo change
NPACW New Providence Acq A -CW28 *W EXP 04/24/203 166,666$32KNo change
OYSER Oyster Enterprises II Acquis RIGHT 05/22/2030 250,000$31KNo change
ADACW American Dr Acq A -30 *W EXP 02/06/203 100,000$30KAdd +0.1%
KRAQW Krakacq Corp. -31 *W EXP 12/23/203 50,000$30KNew
LAFAR Lafayette Acquisition Corp. RIGHT 10/24/2030 250,000$30KNo change
DNMXW Dynamix Corp. III *W EXP 10/10/203 100,000$30KNo change
BIXIW Bitcoin Infrastructure Acqui *W EXP 11/06/203 100,000$30KNo change
SBXE.WS Silverbox Corp. V *W EXP 09/16/203 68,966$29KNo change
VACHW Voyager Acquisition Corp. -CW *W EXP 05/16/203 193,612$29KNo change
SCPQW Social Commerce Partner - 30 *W EXP 02/13/203 107,200$29KNo change
MUZEW Muzero Acquisition - 30 *W EXP 01/30/203 125,000$29KNew
SSEAR Starry Sea Acquisition C-RTS RIGHT 07/07/2030 150,000$29KNo change
ONCHW 1RT Acquisition Corp.-A -31 *W EXP 06/26/203 65,000$28KNo change
CAPNR Cayson Acquisition Corp. RIGHT 99/99/9999 125,000$28KNo change
LPBBW Launch Two Acquisition -29 *W EXP 10/09/202 175,000$27KNo change
INACR Indigo Acquisition Corp. RIGHT 04/02/2027 175,000$27KNo change
PACHW Pioneer Acquisition I Corp. *W EXP 06/16/203 150,000$27KNo change
AIRJW Power & Digital Acq -CW24 *W EXP 03/15/202 46,500$26KNo change
MLAAW Mountain Lake Acquisition Co. *W EXP 99/99/999 200,000$26KNew
JENA ACQUISITION CORP II-RTS RIGHT 03/31/2030 150,000$26KNo change
PLMKW Plum Acquisition Corp. IV-30 *W EXP 08/19/202 50,000$25KNo change
NSTR.WS Viking Acquisition Corp. I *W EXP 11/03/203 83,333$25KNo change
ZKPW Lafayette Digital Acqu - 31 *W EXP 12/23/203 87,500$25KNew
DMAAR Drugs Made in America Ac-RTS RIGHT 12/09/2029 400,000$24KNo change
BLRKW Bluerock Acquisition Corp. *W EXP 12/12/203 72,841$24KNo change
ALUB.WS Alussa Energy Acquisition-30 *W EXP 99/99/999 66,666$24KNo change
SAAQW Space Asset Acquisition Corp. *W EXP 03/31/203 33,333$23KNew
LPCVW Launchpad Cadenza Acquisitio *W EXP 12/15/203 100,000$23KAdd +0.1%
TWLVR Twelve Seas Investment Co. II RIGHT 11/21/2030 150,000$23KNo change
COPL.WS Copley Acquisition Corp. -30 *W EXP 99/99/999 150,000$23KNo change
WTGUR Wintergreen Acquisition-RT RIGHT 99/99/9999 150,000$23KNo change
VLOSW M3-Brigade Acquisition -30 *W EXP 99/99/999 75,000$22KNo change
FCRS.WS Futurecrest Acquisition Corp. *W EXP 09/30/203 37,500$22KNo change
RIBBR Ribbon Acquisition Corp. RIGHT 12/31/2026 125,000$22KNo change
SCIIR SC II Acquisition Corp.-RT RIGHT 11/26/2030 100,000$22KNo change
SVIAW Procap Financial Inc. *W EXP 12/05/203 75,000$21KNo change
CHPGR Championsgate Acquisition Co. RIGHT 05/14/2030 150,000$21KNo change
DSACW Daedalus Spec Acq -30 *W EXP 11/24/203 50,000$21KNo change

Largest 200 of 274 shown.

Total filed on the 13F, all lines: $7.1B.

Portfolio Sells Q4 2025 → Q1 2026
CADE Cadence Bank Sold out 0.00% −8.01
CMA Comerica Inc. Sold out 0.00% −6.77
CYBR Cyberark Software Ltd./Israel Sold out 0.00% −4.75
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) Reduce -9.5% 6.00% −2.48
CFLT Confluent Inc. Class A Sold out 0.00% −1.99
EXAS Exact Sciences Corp. Sold out 0.00% −1.94
CDTX Cidara Therapeutics Inc. Sold out 0.00% −1.72
FOX Fox Corp. Class B Reduce -66.2% 0.51% −1.59
CIVI Civitas Resources Inc. Sold out 0.00% −0.72
GRFS Grifols SA-ADR Reduce -21.1% 0.90% −0.63
ZTS Zoetis Inc. Sold out 0.00% −0.58
DCH Dauch Corporation Reduce -29.3% 0.74% −0.56
RYAAY Ryanair Holdings PLC-SP ADR Sold out 0.00% −0.53
GLIBK Liberty Capital Corp. Class C Sold out 0.00% −0.49
CHKP Check Point Software Tech Sold out 0.00% −0.42
GPOR Gulfport Energy Corp. Reduce -2.2% 2.52% −0.39
TGNA Tegna Inc. Sold out 0.00% −0.34
NWSA News Corp. Class A Reduce -72.4% 0.09% −0.31
HOUS Anywhere Real Estate Inc. Sold out 0.00% −0.31
AAM Aa Mission Acquisition Cor-A Sold out 0.00% −0.30
TFPM Triple Flag Precious Met Reduce -0.5% 2.86% −0.30
ECH iShares MSCI Chile ETF Sold out 0.00% −0.29
MGM MGM Resorts International Reduce -34.7% 0.38% −0.28
DMB BNY Mellon Muni BND Infra Sold out 0.00% −0.21
FTW Eqv Ventures Acquisition C-A Sold out 0.00% −0.20
SVC Service Pptys TR Reduce -7.4% 0.28% −0.19
ELBM Electra Battery Materials Co. Reduce -4.3% 0.26% −0.17
CHAC Crane Harbor Acqu Corp. Class A Sold out 0.00% −0.13
TBN Tamboran Resources Corp. Sold out 0.00% −0.13
VHCP Vine Hill Capital Inves Class A Reduce -50.0% 0.16% −0.13
CSTM Constellium SE Reduce -30.6% 0.46% −0.12
VACH Voyager Acquisition Corp. Sold out 0.00% −0.10
COLA Columbus Acquisition Corp. Sold out 0.00% −0.10
GLIBA Liberty Capital Corp. Sold out 0.00% −0.10
PELI Pelican Acquisition Corp. Sold out 0.00% −0.09
XBNYX BlackRock New York Muni Inc. Sold out 0.00% −0.09
CAPN Cayson Acquisition Corp. Sold out 0.00% −0.08
CCO Clear Channel Outdoor Holdin Reduce -18.5% 0.26% −0.08
RIBB Ribbon Acquisition Corp. Sold out 0.00% −0.08
MHN BlackRock Muniholding NY QLT Sold out 0.00% −0.08
ACI Albertsons Cos Inc. Class A Reduce -5.2% 0.30% −0.07
EPU iShares MSCI Peru and Global Sold out 0.00% −0.06
BYND Beyond Meat Inc. Sold out 0.00% −0.04
EWW iShares MSCI Mexico ETF Reduce -24.5% 0.10% −0.04
OSISKO DEVELOPMENT CORP Sold out 0.00% −0.04
PSKY Paramount Skydance Class B Sold out 0.00% −0.04
PNW Pinnacle West Capital Sold out 0.00% −0.03
NEXM Nexmetals Mining Corp. Sold out 0.00% −0.03
MUE BlackRock Munihold QLT FD II Sold out 0.00% −0.03
FMC FMC Corp. Reduce -63.8% 0.02% −0.03

Portfolio Buys Q4 2025 → Q1 2026
PEN Penumbra Inc. New 7.94% +7.94
WBS Webster Financial Corp. New 7.26% +7.26
VAL Valaris Ltd. New 3.11% +3.11
TERN Terns Pharmaceuticals Inc. New 2.86% +2.86
MASI Masimo Corp. New 2.61% +2.61
CUK Carnival PLC-ADR New 1.82% +1.82
WBD Warner Bros Discovery Inc. Add +303.8% 2.41% +1.69
GTLS Chart Industries Inc. Add +35.5% 8.52% +1.32
LITE Lumentum Holdings Inc. New 1.17% +1.17
SM SM Energy Co. New 1.02% +1.02
LLYVK Liberty Live Holdings Class C New 0.83% +0.83
IACOU Idea Acquisition Corp. New 0.43% +0.43
HAVA Harvard Ave Acquisition Class A New 0.41% +0.41
PONOU Pono Capital Four Inc. New 0.38% +0.38
XCBE X3 Acquisition Corp. Ltd. Class A New 0.37% +0.37
AACIU Armada Acquisition Corp. III New 0.30% +0.30
DBCA D. Boral Acquisition I Class A New 0.27% +0.27
HACQU HCM IV Acquisition Corp. New 0.25% +0.25
ACAAU Averin Capital Acquisition C New 0.24% +0.24
ILLUU Illumination Acquisition Cor New 0.24% +0.24
KCAC.U Kensington Capital Acquisiti New 0.22% +0.22
MMTX Miluna Acquisition Class A New 0.22% +0.22
IPXGU Columbus Circle Capital Corp. New 0.22% +0.22
FGIIU FG Imperii Acquisition Corp. New 0.22% +0.22
CAQUU Cambridge Acquisition Corp. New 0.22% +0.22
PTORU Praetorian Acquisition Corp. New 0.22% +0.22
SORN Soren Acquisition Corp. Class A New 0.21% +0.21
MLAA Mountain Lake Acquisiti Class A New 0.21% +0.21
ALOV Aldabra 4 Liquidity Opp Class A New 0.21% +0.21
BN Brookfield Corp. New 0.21% +0.21
RFAMU RF Acquisition Corp. III New 0.21% +0.21
XSLLU Xsolla Spac 1 New 0.21% +0.21
IRAB Iris Acquisition Corp. I Class A New 0.20% +0.20
TRAD.U Apex Tech Acquisition Inc. New 0.19% +0.19
FMACU Future Money Acquisition Cor New 0.19% +0.19
BWIV.U Blue Water Acquisition Corp. New 0.19% +0.19
ZKP Lafayette Digital Acquisitio New 0.19% +0.19
PPLI People Inc. Add +71.8% 0.47% +0.16
CLBR Colombier Acq III Class A New 0.16% +0.16
PAACU Proem Acquisition Corp. I New 0.16% +0.16
CTAAU Clearthink 1 Acquisition Cor New 0.16% +0.16
PALOU Paloma Acquisition Corp. I New 0.16% +0.16
AACOU Abony Acquisition Corp. I New 0.16% +0.16
LEGO Legato Merger Corp. IV New 0.16% +0.16
WPAC White Pearl Acquisition Co. Class A New 0.16% +0.16
NBRG Newbridge Acquisition Ltd. Class A New 0.15% +0.15
BIII Black Spade Acquisition Class A New 0.15% +0.15
PNI PIMCO NY Muni Inc. II FND New 0.14% +0.14
MYN BlackRock Muniyield NY QLTY New 0.14% +0.14
UAC United Acquisition Corp. I-A New 0.14% +0.14

Options Activity Q4 2025 → Q1 2026
SPY SS SPDR S&P 500 ETF Trust-US put Add +11.1% 500,000 $325.2M
IWM iShares Russell 2000 ETF put New 750,000 $186.0M
NVDA Nvidia Corp. put Reduce -20.0% 800,000 $139.5M
SMCI Super Micro Computer Inc. put Add +119.0% 4,600,000 $104.7M
WOLF Wolfspeed Inc. put Sold out 4,000,000 $69.6Mbefore exit
OIH Vaneck Oil Services ETF put Sold out 227,700 $64.8Mbefore exit
IBIT iShares Bitcoin Trust ETF put Reduce -50.0% 1,500,000 $57.6M
NBIS Nebius Group NV put New 500,000 $51.9M
AAPL Apple Inc. put New 200,000 $50.8M
MARA Mara Holdings Inc. put Add +12.9% 4,369,200 $35.7M
PLTR Palantir Technologies Inc. Class A put Sold out 200,000 $35.5Mbefore exit
WBD Warner Bros Discovery Inc. put New 1,100,000 $30.2M
RIVN Rivian Automotive Inc. Class A put Sold out 1,456,300 $28.7Mbefore exit
TSLA Tesla Inc. put New 75,000 $27.9M
TERN Terns Pharmaceuticals Inc. put New 500,000 $26.4M
KKR KKR & Co. Inc. put Sold out 200,000 $25.5Mbefore exit
XOP SS SPDR S&P Og Exp & Prod put Sold out 200,000 $25.3Mbefore exit
LUMN Lumen Technologies Inc. put Reduce -18.6% 3,500,000 $24.3M
RUN Sunrun Inc. put Sold out 962,500 $17.7Mbefore exit
HLF Herbalife Ltd. put Sold out 970,000 $12.5Mbefore exit
WOLF Wolfspeed Inc. call Sold out 600,000 $10.4Mbefore exit
WBD Warner Bros Discovery Inc. call Sold out 350,000 $10.1Mbefore exit
MPT Medical Properties Trust Inc. put Add +0.8% 1,791,000 $8.3M
MARA Mara Holdings Inc. call New 1,000,000 $8.2M
HTZ Hertz Global Hldgs Inc. put Reduce -6.4% 1,469,700 $6.8M
SRPT Sarepta Therapeutics Inc. put Reduce -73.5% 214,600 $4.7M
BTDR Bitdeer Technologies Group-A put New 392,800 $3.4M
NIO Nio Inc. - ADR put Sold out 485,000 $2.5Mbefore exit
AMC AMC Entertainment HLDS Class A put Reduce -64.0% 1,000,000 $980K
BYND Beyond Meat Inc. put Sold out 955,600 $784Kbefore exit
NFE New Fortress Energy Inc. put Sold out 400,000 $456Kbefore exit
LUMN Lumen Technologies Inc. call Sold out 40,000 $311Kbefore exit

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

Notes & Other Activity Q4 2025 → Q1 2026
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal Add +86.0% 102,197,086 $365.1M
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) NOTE 0.500%12/1 · principal Reduce -10.3% 32,097,500 $226.9M
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Add +6.7% 159,900,000 $221.8M
SPHERE ENTERTAINMENT CO (SPHR 3.5 12/01/28) NOTE 3.500%12/0 · principal Reduce -3.2% 64,504,000 $216.8M
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal Add +14.0% 142,807,000 $174.7M
SNOWFLAKE INC (SNOW 0 10/01/27) NOTE 10/0 · principal Add +1.9% 137,450,000 $162.3M
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal Add +11.8% 131,732,000 $136.3M
STRATEGY INC (MSTR 2.25 06/15/32) NOTE 2.250% 6/1 · principal Add +0.5% 112,000,000 $114.2M
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal Add +33.8% 120,456,000 $111.6M
RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal Add +19.3% 77,237,000 $74.0M
STRATEGY INC (MSTR 0 12/01/29) NOTE 12/0 · principal Add +6.2% 86,050,000 $71.8M
JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) NOTE 2.500% 9/0 · principal Reduce -14.9% 72,371,000 $69.6M
UPSTART HOLDINGS INC (UPST 2 10/01/29) NOTE 2.000%10/0 · principal Reduce -7.3% 64,900,000 $63.3M
COINBASE GLOBAL INC (COIN 0.5 06/01/26) NOTE 0.500% 6/0 · principal Sold out 61,021,000 $60.9Mbefore exit
ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) NOTE 4.000% 3/1 · principal Reduce -14.2% 40,762,000 $51.3M
MARA HOLDINGS INC (MARA 0 06/01/31) NOTE 6/0 · principal Reduce -29.7% 52,000,000 $47.7M
STRATEGY INC (MSTR 0.625 09/15/28) NOTE 0.625% 9/1 · principal Add +13.5% 42,000,000 $46.0M
STRATEGY INC (MSTR 0 03/01/30) NOTE 3/0 · principal New 51,782,000 $45.2M
MARA HOLDINGS INC (MARA 2.125 09/01/31) NOTE 2.125% 9/0 · principal Add +19.1% 49,950,000 $42.3M
ORACLE CORP (ORCL 6.5 01/15/29 D) 6.5 DEP CUM SR D New 900,000 $40.5M
FRESHPET INC (FRPT 3 04/01/28) NOTE 3.000% 4/0 · principal Sold out 31,436,000 $36.7Mbefore exit
HERBALIFE LTD (HLF 4.25 06/15/28) NOTE 4.250% 6/1 · principal Reduce -9.3% 29,321,000 $35.0M
WOLFSPEED INC (WOLF 2.5 06/15/31) NOTE 2.500% 6/1 · principal Add +3.2% 21,545,000 $31.2M
WAYFAIR INC (W 3.5 11/15/28) NOTE 3.500%11/1 · principal Reduce -37.3% 17,900,000 $31.2M
CLEANSPARK INC (CLSK 0 06/15/30) NOTE 6/1 · principal Reduce -36.6% 28,635,000 $27.6M
SUNRUN INC (RUN 4 03/01/30) NOTE 4.000% 3/0 · principal Reduce -30.1% 20,650,000 $24.6M
WISDOMTREE INC (WT 3.25 08/15/29) NOTE 3.250% 8/1 · principal Sold out 20,000,000 $24.0Mbefore exit
FLUENCE ENERGY INC (FLNC 2.25 06/15/30) NOTE 2.250% 6/1 · principal New 20,000,000 $20.1M
PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) NOTE 1.500% 9/1 · principal Reduce -24.1% 13,274,000 $17.7M
NABORS INDUSTRIES INC (NBR 1.75 06/15/29) NOTE 1.750% 6/1 · principal Reduce -43.1% 17,000,000 $15.4M
COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) NOTE 2.875% 2/1 · principal Sold out 10,700,000 $15.1Mbefore exit
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal Sold out 12,500,000 $14.9Mbefore exit
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal Sold out 12,359,000 $12.5Mbefore exit
STRATEGY INC (MSTR 0.875 03/15/31) NOTE 0.875% 3/1 · principal Reduce -3.8% 12,596,000 $12.1M
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) NOTE 4.750% 6/1 · principal Sold out 11,250,000 $12.0Mbefore exit
TWO HARBORS INV CORP (TWO 6.25 01/15/26) NOTE 6.250% 1/1 · principal Sold out 9,279,000 $9.2Mbefore exit
HERTZ CORP/THE (HTZ 8 07/15/29) NOTE 8.000% 7/1 · principal Add +4.0% 9,255,994 $9.0M
LI AUTO INC (LI 0.25 05/01/28) NOTE 0.250% 5/0 · principal Sold out 5,500,000 $5.5Mbefore exit
PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) NOTE 7.250% 8/1 · principal Sold out 5,406,000 $5.4Mbefore exit
KOSMOS ENERGY LTD (KOS 3.125 03/15/30) NOTE 3.125% 3/1 · principal Add +30.0% 6,500,000 $5.1M
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal New 5,000,000 $4.9M
NUTANIX INC (NTNX 0.5 12/15/29) NOTE 0.500%12/1 · principal New 5,000,000 $4.5M
GOSSAMER BIO INC (GOSS 5 06/01/27) NOTE 5.000% 6/0 · principal Sold out 6,504,000 $4.4Mbefore exit
EVOLENT HEALTH INC DEBT 4.500% 8/1 · principal Reduce -26.1% 8,500,000 $4.2M
T1 ENERGY INC (TE 5.25 12/01/30) NOTE 5.250%12/0 · principal Reduce -50.0% 3,000,000 $3.1M
CARDLYTICS INC (CDLX 4.25 04/01/29) NOTE 4.250% 4/0 · principal Sold out 7,404,000 $2.9Mbefore exit
NUCLW Eagle Nuclear Energy Corp. *W EXP 02/25/203 New 459,345 $638K
XRXDW Xerox Holdings Corp. *W EXP 02/11/202 New 3,474,536 $314K
CHACR Crane Harbor Acquisition-RTS RIGHT 04/17/2030 Sold out 225,000 $180Kbefore exit
XCBEW X3 Acquisition Corp. Ltd. *W EXP 12/19/203 New 350,000 $84K

Showing the first 50 of 86.

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 306$1.9BPEN, TECH, WBS, CZR, AZUL
Q1 2026Amended 276$1.8BGTLS, PEN, WBS, SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29), LBRDK
Q4 2025Amended 233$1.6BSUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29), CADE, GTLS, CMA, CYBR
Q3 2025Amended 185$1.5BVRNA, SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29), LBRDK, CYBR, COOP
Q2 2025Amended 165$1.4BSUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29), LBRDK, CHX, COOP, AZEK
Q1 2025Amended 126$1.2BSUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29), BERY, LBRDK, SPY, CHX
Q4 2024Amended 94$579.3MLBRDK, PPLI, TFPM, HEI.A, GRFS
Q3 2024Amended 94$721.0MLBRDK, TFPM, PPLI, GRFS, HEI.A
Q2 2024Amended 98$745.0MLBRDK, PPLI, TFPM, VAL, CHRD
Q1 2024Amended 87$773.4MLBRDK, PPLI, TFPM, AESI, VAL