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NINE MASTS CAPITAL Ltd

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13F filer, CIK 1569356, CENTRAL, Hong Kong

NINE MASTS CAPITAL Ltd reported $580,733,966 across 120 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-10. Its ten largest share positions make up 74.47% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001569356-26-000001

Period
2025-12-31
Reported value
$581M
Holdings
120
Top 10 weight
74.47%
New
95
Sold out
51

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IBITnew+1,889,214$93.8M
SPYnew+104,139$71M
NSCnew+160,852$46.4M
CYBERARK SOFTWARE LTD/ISRAELnew+41,403$18.5M
QRVOnew+167,956$14.2M

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
GOOGexited-216,087-$52.6M
VALEreduced-449,720-$20.9M
HDBexited-568,939-$19.4M
CUKreduced-610,308-$18.5M
MR COOPER GROUP INCexited-48,789-$10.3M

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, Q4 2025

Share positions as resolved from 13F-HR 0001569356-26-000001, largest first. % of portfolio is the value over $580,516,848, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,171,282 shares; 2024Q4: 1,518,200 shares; 2025Q1: not reported; 2025Q2: 1,193,390 shares; 2025Q3: not reported; 2025Q4: 1,889,214 shares 1,889,214$93.8M16.16%newTimeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 83,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 104,139 shares 104,139$71M12.23%newTimeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 160,852 shares 160,852$46.4M8%newTimeline
FOXFOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 43,444 shares; 2024Q4: 43,444 shares; 2025Q1: 160,000 shares; 2025Q2: 221,086 shares; 2025Q3: 632,375 shares; 2025Q4: 653,175 shares 653,175$42.4M7.31%+20,800Timeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 41,403 shares 41,403$18.5M3.18%new
QRVOQORVO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 167,956 shares 167,956$14.2M2.45%newTimeline
ASXASE TECHNOLOGY HLDG CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 991,389 shares; 2024Q4: 1,162,852 shares; 2025Q1: 1,669,622 shares; 2025Q2: 652,368 shares; 2025Q3: 841,686 shares; 2025Q4: 739,619 shares 739,619$11.9M2.05%-102,067Timeline
GSKGSK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 205,929 shares 205,929$10.1M1.74%newTimeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 141,496 shares 141,496$9.65M1.66%newTimeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 93,717 shares 93,717$9.52M1.64%newTimeline
RYAAYRYANAIR HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 269,832 shares; 2025Q3: 168,510 shares; 2025Q4: 131,521 shares 131,521$9.49M1.64%-36,989Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 101,873 shares; 2025Q3: not reported; 2025Q4: 273,890 shares 273,890$7.86M1.35%newTimeline
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 18,127 shares; 2025Q1: not reported; 2025Q2: 2,062 shares; 2025Q3: not reported; 2025Q4: 251,849 shares 251,849$7.26M1.25%newTimeline
VRSNVERISIGN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 13,548 shares 13,548$6.77M1.17%newTimeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 78,786 shares 78,786$5.68M0.98%newTimeline
RNWRENEW ENERGY GLOBAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 908,549 shares 908,549$5.13M0.88%newTimeline
DAYDAYFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 73,879 shares 73,879$5.11M0.88%newTimeline
PBRPETROLEO BRASILEIRO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,943 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 410,245 shares 410,245$4.86M0.84%newTimeline
ETHAISHARES ETHEREUM TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 195,193 shares 195,193$4.38M0.75%newTimeline
TXNMTXNM ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 19,568 shares; 2025Q3: 42,000 shares; 2025Q4: 70,981 shares 70,981$4.18M0.72%+28,981Timeline
GTLSCHART INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,865 shares 19,865$4.1M0.71%newTimeline
HOLXHOLOGIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,000 shares; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$3.72M0.64%newTimeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 193,863 shares 193,863$3.34M0.58%newTimeline
CTLPCANTALOUPE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 280,363 shares 280,363$2.98M0.51%newTimeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 36,004 shares; 2025Q4: 19,811 shares 19,811$2.59M0.45%-16,193Timeline
NIONIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 474,500 shares 474,500$2.42M0.42%newTimeline
BTIBRITISH AMERN TOB PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 34,475 shares 34,475$1.95M0.34%newTimeline
JHGJANUS HENDERSON GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 39,523 shares 39,523$1.88M0.32%newTimeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,357 shares; 2025Q3: not reported; 2025Q4: 9,121 shares 9,121$1.7M0.29%newTimeline
CUKCARNIVAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 665,643 shares; 2025Q4: 55,335 shares 55,335$1.68M0.29%-610,308Timeline
CWANCLEARWATER ANALYTICS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 69,323 shares 69,323$1.67M0.29%newTimeline
EAELECTRONIC ARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 8,034 shares 8,034$1.64M0.28%newTimeline
CSGSCSG SYS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$1.53M0.26%newTimeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,117 shares 14,117$1.32M0.23%newTimeline
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 40,000 shares 40,000$1.29M0.22%newTimeline
MAGSLISTED FDS TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 53,725 shares; 2025Q3: not reported; 2025Q4: 18,309 shares 18,309$1.21M0.21%newTimeline
SEMRSEMRUSH HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,000 shares 100,000$1.19M0.2%newTimeline
NOWSERVICENOW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 471 shares; 2025Q1: not reported; 2025Q2: 2,152 shares; 2025Q3: 1,317 shares; 2025Q4: 7,605 shares 7,605$1.17M0.2%+6,288Timeline
FYBRFRONTIER COMMUNICATIONS PAREQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 106,381 shares; 2025Q3: 102,381 shares; 2025Q4: 30,000 shares 30,000$1.14M0.2%-72,381Timeline
BIPBROOKFIELD INFRASTRUCTURE PAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 31,549 shares 31,549$1.1M0.19%newTimeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,295 shares; 2025Q1: not reported; 2025Q2: 3,441 shares; 2025Q3: 7,941 shares; 2025Q4: 8,486 shares 8,486$1.02M0.18%+545Timeline
TGNATEGNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 46,030 shares 46,030$893K0.15%newTimeline
TWOTWO HARBORS INVENTMENT CORPOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 81,000 shares 81,000$850K0.15%newTimeline
LYBLYONDELLBASELL INDUSTRIES NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,725 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,765 shares; 2025Q4: 19,126 shares 19,126$828K0.14%+8,361Timeline
TTDTHE TRADE DESK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,235 shares; 2025Q1: not reported; 2025Q2: 20,500 shares; 2025Q3: 19,000 shares; 2025Q4: 20,500 shares 20,500$778K0.13%+1,500Timeline
VALEVALE S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 66,771 shares; 2024Q4: 253,362 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 465,997 shares; 2025Q4: 16,277 shares 16,277$756K0.13%-449,720Timeline
SEESEALED AIR CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 18,243 shares 18,243$756K0.13%newTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 6,586 shares 6,586$747K0.13%newTimeline
AIVAPARTMENT INVT & MGMT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 120,000 shares 120,000$713K0.12%newTimeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$712K0.12%newTimeline
IMXIINTERNATIONAL MONEY EXPRESSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 45,000 shares 45,000$691K0.12%newTimeline
ELMEELME COMMUNITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 247,242 shares; 2025Q4: 35,453 shares 35,453$617K0.11%-211,789Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,235 shares 4,235$584K0.1%newTimeline
AESAES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 38,900 shares 38,900$558K0.1%newTimeline
AMCOR PLCAMCOR PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,000 shares; 2025Q3: 33,000 shares; 2025Q4: 65,000 shares 65,000$542K0.09%+32,000
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,000 shares 4,000$539K0.09%newTimeline
WDSWOODSIDE ENERGY GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,317 shares; 2024Q4: 34,317 shares; 2025Q1: not reported; 2025Q2: 34,317 shares; 2025Q3: 34,317 shares; 2025Q4: 34,317 shares 34,317$535K0.09%0Timeline
KWKENNEDY-WILSON HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 55,295 shares 55,295$535K0.09%newTimeline
CSQCALAMOS STRATEGIC TOTAL RETUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 27,663 shares 27,663$531K0.09%newTimeline
SKMSK TELECOM CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,748 shares 25,748$529K0.09%newTimeline
GEHCGE HEALTHCARE TECHNOLOGIES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,316 shares; 2025Q3: not reported; 2025Q4: 6,339 shares 6,339$520K0.09%newTimeline
SCHWCHARLES SCHWAB CORP (THE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 16,569 shares; 2025Q1: not reported; 2025Q2: 8,362 shares; 2025Q3: 5,809 shares; 2025Q4: 4,095 shares 4,095$409K0.07%-1,714Timeline
VVRINVESCO SR INCOME TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 175,438 shares; 2025Q4: 122,007 shares 122,007$399K0.07%-53,431Timeline
BRWSABA CAPITAL INCOME & OPRNTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 54,542 shares 54,542$382K0.07%newTimeline
DVAXDYNAVAX TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 24,629 shares 24,629$379K0.07%newTimeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,924 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,141 shares 4,141$338K0.06%newTimeline
WFWOORI FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,868 shares; 2025Q4: 4,868 shares 4,868$286K0.05%0Timeline
XFLTXAI OCTAGON FLOATING RATE & ALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 94,820 shares; 2025Q4: 53,804 shares 53,804$258K0.04%-41,016Timeline
TLYSTILLYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,817 shares 28,817$57.3K0.01%newTimeline
LZMLIFEZONE METALS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,709 shares 12,709$54.3K0.01%newTimeline
SPWHSPORTSMANS WHSE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 36,922 shares 36,922$53.9K0.01%newTimeline
UEICUNIVERSAL ELECTRS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,581 shares 12,581$45.4K0.01%newTimeline
RZLVREZOLVE AI PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 15,401 shares 15,401$39.6K0.01%newTimeline
RXTRACKSPACE TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 40,237 shares 40,237$39.1K0.01%newTimeline
XRXXEROX HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,022 shares 16,022$38K0.01%newTimeline
CCOCLEAR CHANNEL OUTDOOR HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,940 shares 16,940$37.4K0.01%newTimeline
GOLDEN MATRIX GROUP INCGOLDEN MATRIX GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 46,648 shares 46,648$37.4K0.01%new
OPADOFFERPAD SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,384 shares 28,384$34.3K0.01%newTimeline
KLTRKALTURA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 18,812 shares 18,812$30.9K0.01%newTimeline
ADVADVANTAGE SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 34,990 shares 34,990$30.8K0.01%newTimeline
MYPSPLAYSTUDIOS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 44,494 shares 44,494$29K<0.01%newTimeline
NNBRNN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 22,422 shares 22,422$28.7K<0.01%newTimeline
GETYGETTY IMAGES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,968 shares 20,968$28.1K<0.01%newTimeline
DHXDHI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 17,854 shares 17,854$27.7K<0.01%newTimeline
RDZNROADZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,309 shares 11,309$27.3K<0.01%newTimeline
MAPSWM TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 32,084 shares 32,084$26.5K<0.01%newTimeline
BAERBRIDGER AEROSPACE GRP HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 13,698 shares 13,698$25.1K<0.01%newTimeline
HFFGHF FOODS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,307 shares 11,307$24.3K<0.01%newTimeline
SLQTSELECTQUOTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,714 shares 16,714$23.6K<0.01%newTimeline
HAINHAIN CELESTIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 21,834 shares 21,834$23.4K<0.01%newTimeline
PROKPROKIDNEY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,244 shares 10,244$22.9K<0.01%newTimeline
OVIDOVID THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 13,960 shares 13,960$22.8K<0.01%newTimeline
ABOSACUMEN PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,637 shares 10,637$22.4K<0.01%newTimeline
LUNGPULMONX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,106 shares 10,106$22.3K<0.01%newTimeline
CCCCC4 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,472 shares 11,472$21.9K<0.01%newTimeline
Bitcoin Depot IncBitcoin Depot IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,602 shares 16,602$21.4K<0.01%new
BTBTBIT DIGITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,309 shares 11,309$21.4K<0.01%newTimeline
LNAILUNAI BIOWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 24,220 shares 24,220$21.4K<0.01%newTimeline
AGLAGILON HEALTH INC COM (DE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 30,517 shares 30,517$21K<0.01%newTimeline
ARAYACCURAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,202 shares 25,202$20.8K<0.01%newTimeline
PMVPPMV PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,607 shares 16,607$20.8K<0.01%newTimeline
WTIW & T OFFSHORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,730 shares 12,730$20.8K<0.01%newTimeline
SEERSEER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,751 shares 10,751$19.7K<0.01%newTimeline
STRIVE INCSTRIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 26,362 shares 26,362$19.5K<0.01%new
TELATELA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,486 shares 16,486$19.5K<0.01%newTimeline
FATEFATE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,445 shares 19,445$19.1K<0.01%newTimeline
DCGODOCGO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 21,133 shares 21,133$18.6K<0.01%newTimeline
REIRING ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,491 shares 20,491$17.8K<0.01%newTimeline
ATNMACTINIUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,940 shares 12,940$17.6K<0.01%newTimeline
ALXOALX ONCOLOGY HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 15,475 shares 15,475$17.5K<0.01%newTimeline

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
MDTMEDTRONIC PLC COMput20,300$121K+10,300
MDTMEDTRONIC PLC COMcall10,000$77.5K-20,000
VALEVALE S A SPONSORED ADSput11,500$16.4K-8,200
LINLINDE PLC COMput45,400$1.88K-5,300

Principal amounts

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

SecurityTypeAmountValueChange
ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG LTD NOTE 0.500% 6/0principal63,000$98Mnew
QQQINVESCO QQQ TR COMprincipal40,453$19Mnew
NIO INCNIO INC NOTE 4.625%10/1principal19,250$17M+14,900
LIBERTY INTERACTIVE LLCLIBERTY INTERACTIVE LLC DEB 3.750% 2/1principal10,200$714K+5,400
PRENWPRENETICS GLOBAL LTD *W EXP 05/18/202principal362,456$10.2Knew
FISCALNOTE HOLDINGS INCFISCALNOTE HOLDINGS INC *W EXP 07/29/202principal299,447$9.13Knew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
GOOGALPHABET INC216,087$52.6Mshares
HDBHDFC BANK LTD568,939$19.4Mshares
MR COOPER GROUP INCMR COOPER GROUP INC48,789$10.3Mshares
DEODIAGEO PLC78,872$7.53Mshares
VALEVALE S A100,000$5.21Mcall
ISRLFISRAEL ACQUISITIONS CORP CL A400,000$5.04Mshares
GRNDGRINDR INC241,300$3.62Mshares
BIPCBROOKFIELD INFRASTRUCTURE CO65,261$2.68Mshares
SPYSTATE STR SPDR S&P 500 ETF T200,000$2.46Mcall
LILI AUTO INC69,296$1.81Mshares
SHOPSHOPIFY INC11,000$1.63Mshares
UUNITY SOFTWARE INC100,000$1.57Mcall
HLNHALEON PLC163,003$1.46Mshares
WBDWARNER BROS DISCOVERY INC175,000$1.37Mcall
TTDTHE TRADE DESK INC20,500$1.35Mput
PDDPDD HOLDINGS INC39,500$1.34Mcall
DVNDEVON ENERGY CORP NEW29,868$1.05Mshares
XPEVXPENG INC30,887$739Kshares
NFLXNETFLIX INC.2,000$638Kcall
TGTTARGET CORP25,000$556Kcall
RELXRELX PLC9,284$443Kshares
AAPLAPPLE INC16,000$389Kcall
NOWSERVICENOW INC1,500$338Kput
AXPAMERICAN EXPRESS CO938$312Kshares
NFENEW FORTRESS ENERGY INC1,722,200$301Kput
RBLXROBLOX CORP1,851$256Kshares
AMDADVANCED MICRO DEVICES INC15,000$247Kcall
DDOGDATADOG INC20,300$239Kput
DDOGDATADOG INC10,000$217Kcall
LIBERTY INTERACTIVE LLCLIBERTY INTERACTIVE LLC2,127$202Kprincipal
AMDADVANCED MICRO DEVICES INC16,500$179Kput
DVNDEVON ENERGY CORP NEW66,400$168Kput
XBISPDR SERIES TRUST20,000$146Kput
DDOGDATADOG INC883$126Kshares
GEHCGE HEALTHCARE TECHNOLOGIES I15,900$118Kput
XOMEXXON MOBIL CORP11,500$109Kput
AAPLAPPLE INC31,800$90.6Kput
SPYSTATE STR SPDR S&P 500 ETF T20,000$69.3Kput
AXPAMERICAN EXPRESS CO7,200$41.4Kput
SCHWCHARLES SCHWAB CORP (THE)31,500$37.2Kput
GEHCGE HEALTHCARE TECHNOLOGIES I20,000$36Kcall
XBISPDR SERIES TRUST20,000$35.3Kcall
CCLCARNIVAL CORP3,000,000$30Kput
WBDWARNER BROS DISCOVERY INC210,000$24.1Kput
PDDPDD HOLDINGS INC40,000$23.8Kput
NFLXNETFLIX INC.3,200$23.7Kput
UUNITY SOFTWARE INC100,000$20.5Kput
TGTTARGET CORP27,500$19.5Kput
KKELLANOVA40,000$13Kput
XOMEXXON MOBIL CORP8,200$6.44Kcall
RBLXROBLOX CORP11,000$4.67Kput

How Q4 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 0001569356-26-000001 base2026-02-10acceptance time not in the bulk data set