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JONES ROAD CAPITAL MANAGEMENT, L.P.

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13F filer, CIK 1842361, NEW YORK, NY

JONES ROAD CAPITAL MANAGEMENT, L.P. reported $160,147,534 across 26 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 81.05% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001842361-25-000004

Period
2025-03-31
Reported value
$160M
Holdings
26
Top 10 weight
81.05%
New
3
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ORCLadded+16,710$2.34M
MSFTnew+4,000$1.5M
VISNadded+232,000$1.23M
ADXadded+48,880$928K
BAPRAadded+14,700$880K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GLWexited-149,737-$7.12M
HPEreduced-450,000-$6.94M
METAreduced-7,480-$4.31M
ATIreduced-45,468-$2.37M
BAXexited-61,109-$1.78M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001842361-25-000004, largest first. % of portfolio is the value over $140,425,034, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,580 shares; 2024Q4: 34,780 shares; 2025Q1: 27,300 shares 27,300$15.7M11.21%-7,480Timeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 447,152 shares; 2024Q4: 547,152 shares; 2025Q1: 505,000 shares 505,000$10.5M7.44%-42,152Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,490 shares; 2024Q4: 55,890 shares; 2025Q1: 72,600 shares 72,600$10.2M7.23%+16,710Timeline
LQDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,173 shares; 2024Q4: 95,173 shares; 2025Q1: 87,700 shares 87,700$9.53M6.79%-7,473Timeline
ADXADAMS DIVERSIFIED EQUITY FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 375,103 shares; 2024Q4: 370,120 shares; 2025Q1: 419,000 shares 419,000$7.96M5.67%+48,880Timeline
ATIATI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,345 shares; 2024Q4: 155,345 shares; 2025Q1: 109,877 shares 109,877$5.72M4.07%-45,468Timeline
XGDVXGABELLI DIVID & INCOME TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 200,000 shares; 2025Q1: 236,000 shares 236,000$5.69M4.06%+36,000Timeline
FCTFIRST TR SR FLTG RATE INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 430,933 shares; 2024Q4: 430,933 shares; 2025Q1: 398,000 shares 398,000$4.04M2.87%-32,933Timeline
VISNVISTANCE NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 375,000 shares; 2025Q1: 607,000 shares 607,000$3.22M2.3%+232,000Timeline
BAPRABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 38,200 shares; 2025Q1: 52,900 shares 52,900$3.17M2.25%+14,700Timeline
AVBAVALONBAY CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,061 shares; 2024Q4: 12,061 shares; 2025Q1: 13,600 shares 13,600$2.92M2.08%+1,539Timeline
BHRBRAEMAR HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,229,347 shares; 2024Q4: 1,163,744 shares; 2025Q1: 973,000 shares 973,000$2.42M1.73%-190,744Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,000 shares 4,000$1.5M1.07%newTimeline
BABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,000 shares; 2025Q1: 6,300 shares 6,300$1.07M0.77%+300Timeline
HPEHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 510,000 shares; 2025Q1: 60,000 shares 60,000$926K0.66%-450,000Timeline
CYHCOMMUNITY HEALTH SYS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 164,732 shares; 2024Q4: 164,732 shares; 2025Q1: 286,000 shares 286,000$772K0.55%+121,268Timeline
JFRNUVEEN FLOATING RATE INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,804 shares; 2024Q4: 21,804 shares; 2025Q1: 65,227 shares 65,227$552K0.39%+43,423Timeline
NPFDNUVEEN VRIABL RAT PFD & INMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,639 shares; 2024Q4: 19,639 shares; 2025Q1: 23,600 shares 23,600$443K0.32%+3,961Timeline
ALURWALLURION TECHNOLOGIES INC WT PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 44,393 shares; 2024Q4: 44,393 shares; 2025Q1: 44,393 shares 44,393$143K0.1%0Timeline
UNITED HOMES GROUP INCUNITED HOMES GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,500 shares; 2024Q4: 2,500 shares; 2025Q1: 2,500 shares 2,500$7K<0.01%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
HYGISHARES TR IBOXX HI YD ETFput250,000$19.7Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
NEXTERA ENERGY CAP HLDGS INCNEXTERA ENERGY CAP HLDGS INC NOTE 3.000% 3/0principal17,400,000$20.1Mnew
DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BNDprincipal15,000,000$16.3M0
FIRSTENERGY CORPFIRSTENERGY CORP NOTE 4.000% 5/0principal12,000,000$12.2M0
PG&E CORPPG&E CORP NOTE 4.250%12/0principal5,000,000$5.29M0
SPIRIT AEROSYSTEMS INCSPIRIT AEROSYSTEMS INC CNVprincipal100,000$137K0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MUMICRON TECHNOLOGY INC200,000$16.8Mcall
ORCLORACLE CORP100,000$16.7Mcall
ETNEATON CORP PLC40,000$13.3Mcall
GLWCORNING INC149,737$7.12Mshares
SPRSPIRIT AEROSYSTEMS HLDGS INC200,000$6.82Mcall
HPEHEWLETT PACKARD ENTERPRISE C160,000$3.42Mput
PCGPG&E CORP100,000$2.02Mcall
BAXBAXTER INTL INC61,109$1.78Mshares
MPMP MATERIALS CORP100,000$1.56Mcall
BSLBLACKSTONE SENI FLTN RAT 20280,903$1.16Mshares
BRAEMAR HOTELS & RESORTS INCBRAEMAR HOTELS & RESORTS INC1,000,000$920Kprincipal
BGBBLACKSTONE STRATEGIC CRED 2039,751$486Kshares
ROIVROIVANT SCIENCES LTD10,000$118Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001842361-25-000004 base2025-05-14acceptance time not in the bulk data set