Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (7 quarters reported)
$571M in Q4 2024 → $744M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| SS State Str SPDR S&P 500 ETF T Put | 32.1% | Added 42% | 320,000 | $239M |
| CS Core Scientific Inc New | 15.6% | Added 3.2% | 4,550,000 | $116M |
| OP Office Pptys Income Tr | 12.7% | New | 5,551,715 | $94.4M |
| SP Service Pptys Tr | 12.4% | New | 54,700,000 | $92.4M |
| CS Core Scientific Inc New Put | 8.6% | New | 2,500,000 | $64M |
| IT Ishares Tr Put | 4.6% | New | 115,000 | $34.6M |
| Global Net Lease Inc | 3.6% | Unchanged | 3,021,832 | $27M |
| CS Core Scientific Inc New Call | 3.4% | New | 1,000,000 | $25.6M |
| CO Capital One Finl Corp | 2.1% | Unchanged | 77,100 | $15.5M |
| Echostar Corp | 2.0% | Trimmed 18% | 149,258 | $15.1M |
| Echostar Corp Put | 1.4% | New | 100,000 | $10.2M |
| Warner Bros Discovery Inc | 0.5% | New | 150,000 | $4M |
| Optimum Communications Inc | 0.5% | Added 48% | 2,520,000 | $3.65M |
| CH Community Health Sys Inc New | 0.2% | Added 100% | 400,000 | $1.34M |
| MA M3brigade Acquisition V Corp | 0.1% | New | 300,300 | $1M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 6 quarters.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| OP Office Pptys Income Tr | New | +5,551,715 | +$94.4M | 12.7% |
| SP Service Pptys Tr | New | +54,700,000 | +$92.4M | 12.4% |
| SS State Str SPDR S&P 500 ETF T | Added | +95,000 | +$70.9M | 32.1% |
| IQ Invesco Qqq Tr | Exited | −122,500 | −$70.7M | — |
| CS Core Scientific Inc New | New | +2,500,000 | +$64M | 8.6% |
| IT Ishares Tr | New | +115,000 | +$34.6M | 4.6% |
| CS Core Scientific Inc New | New | +1,000,000 | +$25.6M | 3.4% |
| Echostar Corp | New | +100,000 | +$10.2M | 1.4% |
| PF Pennymac Finl Svcs Inc New | Exited | −79,000 | −$6.9M | — |
| RC Royal Caribbean Group | Exited | −20,900 | −$5.75M | — |
Showing the 10 largest of 19 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IQ Invesco Qqq Tr | New | +122,500 | +$70.7M | 18.9% |
| SS State Str SPDR S&P 500 ETF T | Added | +99,500 | +$64.7M | 39.1% |
| IT Ishares Tr | Exited | −202,500 | −$49.8M | — |
| CS Core Scientific Inc New | Trimmed | −1,189,000 | −$17.8M | 17.7% |
| CO Capital One Finl Corp | Added | +66,100 | +$12.1M | 3.8% |
| CH Cinemark Hldgs Inc | Exited | −300,000 | −$6.97M | — |
| PF Pennymac Finl Svcs Inc New | New | +79,000 | +$6.9M | 1.8% |
| Echostar Corp | Trimmed | −58,680 | −$6.87M | 5.7% |
| RC Royal Caribbean Group | New | +20,900 | +$5.75M | 1.5% |
| Global Net Lease Inc | Trimmed | −578,168 | −$5.41M | 7.6% |
Showing the 10 largest of 16 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +57,000 | +$38.9M | 28.8% |
| IT Ishares Tr | Added | +97,500 | +$24M | 16.8% |
| Echostar Corp | Trimmed | −110,000 | −$12M | 8.8% |
| CH Cinemark Hldgs Inc | New | +300,000 | +$6.97M | 2.3% |
| Slm Corp | Exited | −200,000 | −$5.54M | — |
| CS Core Scientific Inc New | Added | +350,000 | +$5.1M | 27.4% |
| CH Community Health Sys Inc New | Trimmed | −1,627,393 | −$5.08M | 0.4% |
| Synchrony Financial | New | +44,000 | +$3.67M | 1.2% |
| CO Capital One Finl Corp | New | +11,000 | +$2.67M | 0.9% |
| Optimum Communications Inc | New | +1,250,000 | +$2.06M | 0.7% |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −100,000 | −$24.2M | 10.6% |
| CM Cipher Mining Inc | Exited | −4,404,900 | −$21.1M | — |
| CS Core Scientific Inc New | Trimmed | −779,222 | −$14M | 39.4% |
| SS SPDR S&P 500 ETF Tr | Added | +18,500 | +$12.3M | 19.1% |
| CM Cipher Mining Inc | Exited | −2,500,000 | −$3.23M | — |
| Echostar Corp | Trimmed | −40,000 | −$3.05M | 11.2% |
| SS SPDR Series Trust | Exited | −45,000 | −$2.51M | — |
| IE Invesco Exch Traded Fd Tr Ii | Exited | −35,000 | −$2.51M | — |
| Iheartmedia Inc | Trimmed | −784,016 | −$2.25M | 0.4% |
| Global Net Lease Inc | Added | +209,798 | +$1.71M | 11.9% |
Showing the 10 largest of 13 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −250,000 | −$154M | 11.6% |
| Echostar Corp | Exited | −10,618,550 | −$11.9M | — |
| IT Ishares Tr | Trimmed | −15,000 | −$3.24M | 16.7% |
| CM Cipher Mining Inc | New | +2,500,000 | +$3.23M | 1.2% |
| SS SPDR Series Trust | New | +45,000 | +$2.51M | 0.9% |
| IE Invesco Exch Traded Fd Tr Ii | New | +35,000 | +$2.51M | 0.9% |
| Slm Corp | Trimmed | −50,000 | −$1.64M | 3.1% |
| Piedmont Realty Trust Inc | Trimmed | −175,000 | −$1.28M | 1.7% |
| CH Community Health Sys Inc New | Added | +330,020 | +$1.12M | 2.5% |
| Echostar Corp | Trimmed | −38,300 | −$1.06M | 4.1% |
Showing the 10 largest of 14 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Exited | −2,300,000 | −$181M | — |
| SS SPDR S&P 500 ETF Tr | Added | +127,500 | +$71.3M | 49.8% |
| IQ Invesco Qqq Tr | Exited | −117,500 | −$60.1M | — |
| IT Ishares Tr | Added | +57,500 | +$11.5M | 13.0% |
| AH Aercap Holdings Nv | Exited | −75,000 | −$7.18M | — |
| SH Siriusxm Holdings Inc | Exited | −276,375 | −$6.3M | — |
| HP Highwoods Pptys Inc | Exited | −200,000 | −$6.12M | — |
| Slm Corp | Trimmed | −200,000 | −$5.87M | 2.6% |
| CM Cipher Mining Inc | Added | +2,153,058 | +$4.95M | 3.0% |
| Hut 8 Corp | Exited | −194,489 | −$3.99M | — |
Showing the 10 largest of 18 changes.
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