Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$1.79B in Q2 2013 → $727M 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 |
|---|---|---|---|---|
| American Airlines Group Inc Put | 15.1% | Unchanged | 6,060,100 | $110M |
| Apple Inc Put | 7.6% | Unchanged | 190,000 | $55M |
| Rivian Automotive Inc Put | 4.3% | Trimmed 18% | 1,800,000 | $31.2M |
| IT Ishares Tr Put | 4.2% | Trimmed 14% | 357,000 | $30.9M |
| Bristol-myers Squibb Co Call | 3.6% | Unchanged | 450,000 | $25.9M |
| CN Comcast Corp New Call | 3.5% | Unchanged | 1,050,000 | $25.8M |
| Gilead Sciences Inc Call | 3.0% | Unchanged | 170,000 | $21.5M |
| BH Bausch Health Cos Inc Put | 2.7% | Added 501% | 4,000,000 | $19.7M |
| Rivian Automotive Inc | 2.4% | Unchanged | 15,000,000 | $17.8M |
| Merck & Co Inc Call | 2.3% | Unchanged | 130,000 | $16.7M |
| Pfizer Inc Call | 2.2% | Unchanged | 660,000 | $15.9M |
| BO Bank Of Amer Corp Put | 2.0% | Added 30% | 260,000 | $14.8M |
| FM Ford Mtr Co Put | 1.9% | New | 1,000,000 | $13.9M |
| SP Simon Ppty Group Inc New Call | 1.8% | Unchanged | 60,000 | $13.4M |
| Metlife Inc Call | 1.7% | Unchanged | 150,000 | $12.7M |
| CS Cisco Sys Inc Call | 1.6% | Unchanged | 100,000 | $11.7M |
| KM Kinder Morgan Inc Del Call | 1.6% | Unchanged | 360,000 | $11.5M |
| Kosmos Energy Ltd | 1.4% | Unchanged | 14,000,000 | $10.3M |
| NC Norwegian Cruise Line Hldgs Call | 1.2% | Unchanged | 400,000 | $8.44M |
| Target Corp Call | 1.1% | Unchanged | 60,000 | $7.84M |
| Gilead Sciences Inc Put | 1.0% | Unchanged | 60,000 | $7.58M |
| Bristol-myers Squibb Co Put | 1.0% | Unchanged | 125,000 | $7.2M |
| Organon & Co Call | 1.0% | New | 525,000 | $7.11M |
| Merck & Co Inc Put | 1.0% | Unchanged | 55,000 | $7.07M |
| Compass Inc Call | 1.0% | Unchanged | 572,000 | $7.05M |
| BO Bank Of Amer Corp Call | 0.9% | New | 120,000 | $6.84M |
| DW Disney Walt Co Call | 0.9% | Unchanged | 70,000 | $6.74M |
| Conagra Brands Inc Call | 0.9% | Unchanged | 500,000 | $6.73M |
| Pagaya Technologies Ltd Put | 0.9% | Unchanged | 360,000 | $6.57M |
| Verizon Communications Inc Put | 0.9% | Trimmed 25% | 150,000 | $6.35M |
| Uniti Group LLC | 0.9% | Unchanged | 5,255,000 | $6.33M |
| Freeport Mcmoran Inc Call | 0.9% | Unchanged | 100,000 | $6.29M |
| Fedex Corp Call | 0.9% | Unchanged | 20,000 | $6.26M |
| Rivian Automotive Inc Call | 0.8% | Unchanged | 350,000 | $6.07M |
| Strategy Inc | 0.8% | Unchanged | 6,000,000 | $5.54M |
| PF Prudential Finl Inc Put | 0.7% | Unchanged | 50,000 | $5.4M |
| UP United Parcel Svcs Inc Call | 0.7% | Unchanged | 50,000 | $5.38M |
| Herbalife Ltd Call | 0.7% | Unchanged | 402,500 | $5.29M |
| HG Hertz Global Hldgs Inc Put | 0.7% | Unchanged | 2,300,000 | $5.21M |
| CE Caesars Entertainment Inc Ne Call | 0.6% | Added 15% | 152,000 | $4.59M |
| Metlife Inc Put | 0.6% | Unchanged | 50,000 | $4.23M |
| Target Corp Put | 0.5% | Unchanged | 30,000 | $3.92M |
| KM Kinder Morgan Inc Del Put | 0.5% | Unchanged | 120,000 | $3.84M |
| DW Disney Walt Co Put | 0.5% | Unchanged | 37,500 | $3.61M |
| Apple Inc | 0.5% | Trimmed 3.1% | 12,000 | $3.47M |
| NI Nexxen Intl Ltd | 0.5% | Added 2.9% | 503,393 | $3.43M |
| K Kohls Corp Put | 0.4% | Unchanged | 180,000 | $3.19M |
| Freeport Mcmoran Inc Put | 0.4% | Unchanged | 50,000 | $3.14M |
| CE Caesars Entertainment Inc Ne | 0.4% | Trimmed 37% | 100,000 | $3.02M |
| CN Cleveland-cliffs Inc New | 0.4% | Trimmed 13% | 279,814 | $2.63M |
| Microsoft Corp Call | 0.4% | Unchanged | 7,000 | $2.61M |
| Dauch Corp | 0.3% | Added 1.1% | 465,000 | $2.52M |
| IB International Business Machs Put | 0.3% | Trimmed 50% | 8,700 | $2.45M |
| Td Synnex Corporation | 0.3% | Added 42% | 9,117 | $2.44M |
| Mgm Resorts International Call | 0.3% | Unchanged | 50,000 | $2.39M |
| Mgm Resorts International | 0.3% | Trimmed 26% | 50,000 | $2.39M |
| CS Cisco Sys Inc Put | 0.3% | Unchanged | 20,000 | $2.35M |
| Medical Properties Trust Inc Put | 0.3% | Unchanged | 500,000 | $2.31M |
| Crescent Energy Company | 0.3% | Added 170% | 235,098 | $2.31M |
| Archer Daniels Midland Co Put | 0.3% | Unchanged | 30,000 | $2.29M |
Showing top 60 of 142 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS State Str SPDR S&P 500 ETF T | Exited | −250,000 | −$163M | — |
| Avis Budget Group Inc | Trimmed | −230,000 | −$34M | 0.3% |
| Citigroup Inc | Exited | −160,000 | −$18.1M | — |
| BH Bausch Health Cos Inc | Added | +3,334,000 | +$16.4M | 2.7% |
| N Ncl Corp Ltd | Exited | −14,500,000 | −$14.2M | — |
| FM Ford Mtr Co | New | +1,000,000 | +$13.9M | 1.9% |
| Newmont Corp | Exited | −100,000 | −$10.8M | — |
| Unitedhealth Group Inc | Exited | −40,000 | −$10.8M | — |
| Citigroup Inc | Exited | −80,000 | −$9.07M | — |
| Organon & Co | New | +525,000 | +$7.11M | 1.0% |
Showing the 10 largest of 240 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS State Str SPDR S&P 500 ETF T | New | +250,000 | +$163M | 17.0% |
| SS SPDR S&P 500 ETF Tr | Exited | −136,000 | −$92.7M | — |
| VE Vaneck ETF Trust | Exited | −615,000 | −$52.7M | — |
| SS SPDR Series Trust | Exited | −400,000 | −$50.5M | — |
| CN Comcast Corp New | New | +1,050,000 | +$30.1M | 3.1% |
| Pbf Energy Inc | Exited | −950,000 | −$25.8M | — |
| Avis Budget Group Inc | Trimmed | −100,000 | −$14.6M | 3.7% |
| VG Vodafone Group PLC New | Exited | −800,000 | −$10.6M | — |
| Verizon Communications Inc | New | +200,000 | +$10M | 1.0% |
| HG Hertz Global Hldgs Inc | Added | +2,100,000 | +$9.68M | 1.1% |
Showing the 10 largest of 328 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −289,900 | −$198M | 8.6% |
| Apple Inc | New | +190,000 | +$51.7M | 4.8% |
| SS SPDR S&P 500 ETF Tr | Exited | −50,000 | −$33.3M | — |
| CN Comcast Corp New | Exited | −750,000 | −$23.6M | — |
| IQ Invesco Qqq Tr | Exited | −30,000 | −$18M | — |
| K Kohls Corp | Trimmed | −750,000 | −$15.3M | 0.3% |
| IT Ishares Tr | Exited | −60,000 | −$14.5M | — |
| Metlife Inc | New | +150,000 | +$11.8M | 1.1% |
| VG Vodafone Group PLC New | New | +800,000 | +$10.6M | 1.0% |
| FC Frontier Communications Pare | Exited | −265,000 | −$9.9M | — |
Showing the 10 largest of 413 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +238,700 | +$159M | 19.0% |
| NC Norwegian Cruise Line Hldg L | Exited | −1,687,500 | −$34.2M | — |
| SS SPDR S&P 500 ETF Tr | New | +50,000 | +$33.3M | 2.2% |
| AA American Airls Group Inc | Trimmed | −2,500,000 | −$28.1M | 4.3% |
| Herbalife Ltd | Exited | −2,800,000 | −$24.1M | — |
| BH Bausch Health Cos Inc | Trimmed | −3,334,000 | −$21.5M | 0.7% |
| UA United Airls Hldgs Inc | Exited | −267,000 | −$21.3M | — |
| IQ Invesco Qqq Tr | New | +30,000 | +$18M | 1.2% |
| IT Ishares Tr | Added | +57,500 | +$13.9M | 1.0% |
| BA Bank America Corp | New | +200,000 | +$10.3M | 0.7% |
Showing the 10 largest of 439 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AA American Airls Group Inc | Trimmed | −7,115,000 | −$79.8M | 7.1% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −128,800 | −$79.6M | 8.8% |
| Herbalife Ltd | New | +2,800,000 | +$24.1M | 1.8% |
| UA United Airls Hldgs Inc | New | +267,000 | +$21.3M | 1.6% |
| VE Vaneck ETF Trust | Trimmed | −400,000 | −$20.8M | 2.4% |
| IB International Business Machs | Exited | −75,000 | −$18.6M | — |
| Unitedhealth Group Inc | New | +50,000 | +$15.6M | 1.2% |
| SS SPDR Series Trust | Trimmed | −100,000 | −$12.6M | 3.8% |
| Carnival Corp | Exited | −600,000 | −$11.7M | — |
| Kosmos Energy Ltd | New | +14,000,000 | +$9.63M | 0.7% |
Showing the 10 largest of 353 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AA American Airls Group Inc | Added | +7,875,100 | +$83.1M | 12.8% |
| SS SPDR S&P 500 ETF Tr | Added | +125,500 | +$70.2M | 13.9% |
| Carnival Corp | Trimmed | −3,330,000 | −$65M | 0.9% |
| Apple Inc | Exited | −250,000 | −$62.6M | — |
| NC Norwegian Cruise Line Hldg L | New | +1,875,000 | +$35.6M | 2.8% |
| US United States Stl Corp New | Exited | −986,600 | −$33.5M | — |
| Zillow Group Inc | Exited | −450,000 | −$33.3M | — |
| SS Select Sector SPDR Tr | Exited | −375,000 | −$32.1M | — |
| Avis Budget Group | New | +416,000 | +$31.6M | 2.5% |
| BH Bausch Health Cos Inc | New | +4,875,000 | +$31.5M | 2.5% |
Showing the 10 largest of 325 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AA American Airls Group Inc | Trimmed | −4,750,000 | −$82.8M | 9.6% |
| UA United Airls Hldgs Inc | Trimmed | −708,300 | −$68.8M | 0.9% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −89,400 | −$52.4M | 8.2% |
| BH Bausch Health Cos Inc | Exited | −6,100,000 | −$49.8M | — |
| NC Norwegian Cruise Line Hldg L | Exited | −1,500,000 | −$30.8M | — |
| IT Ishares Tr | Added | +220,000 | +$19.2M | 1.8% |
| Avis Budget Group | Exited | −188,000 | −$16.5M | — |
| Merck & Co Inc | New | +105,000 | +$10.4M | 0.8% |
| N Ncl Corp Ltd | Exited | −7,500,000 | −$9.3M | — |
| Gilead Sciences Inc | New | +100,000 | +$9.24M | 0.7% |
Showing the 10 largest of 334 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +244,500 | +$140M | 10.7% |
| Lumen Technologies Inc | Trimmed | −14,383,500 | −$102M | 1.3% |
| AA American Airls Group Inc | Trimmed | −6,000,000 | −$67.4M | 9.2% |
| SS SPDR Ser Tr | New | +500,000 | +$65.8M | 4.4% |
| VE Vaneck ETF Trust | New | +1,000,000 | +$39.8M | 2.7% |
| Intel Corp | Exited | −1,000,000 | −$31M | — |
| Kb Home | Trimmed | −330,000 | −$28.3M | 2.7% |
| Zillow Group Inc | Exited | −500,000 | −$23.2M | — |
| Zillow Group Inc | Trimmed | −200,000 | −$12.8M | 1.3% |
| Carnival Corp | Added | +600,000 | +$11.1M | 4.8% |
Showing the 10 largest of 337 changes.
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