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SONA ASSET MANAGEMENT (US) LLC

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13F filer, CIK 1856405, NEW YORK, NY

SONA ASSET MANAGEMENT (US) LLC reported $4,393,187,009 across 146 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 57.28% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000905148-26-000843

Period
2025-12-31
Reported value
$4.39B
Holdings
146
Top 10 weight
57.28%
New
64
Sold out
69

Part of the filer group SONA ASSET MANAGEMENT (US) LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
LQDadded+6,615,092$729M
NSCadded+254,967$73.6M
IGSBadded+1,135,000$60M
ECHOadded+279,650$30.4M
WBDnew+1,000,000$28.8M

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
EMBexited-1,469,000-$140M
APOLLO GLOBAL MGMT INCreduced-1,200,000-$90.6M
GTLSexited-208,634-$41.8M
EAexited-185,440-$37.4M
HEWLETT PACKARD ENTERPRISE Creduced-325,000-$21.5M

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 0000905148-26-000843, largest first. % of portfolio is the value over $3,081,015,460, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
LQDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 6,042,278 shares; 2025Q2: 5,774,092 shares; 2025Q3: 396,206 shares; 2025Q4: 7,011,298 shares 7,011,298$773M25.08%+6,615,092Timeline
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: 189,280 shares; 2025Q4: 444,247 shares 444,247$128M4.16%+254,967Timeline
IGSBISHARES 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: 2,535,000 shares; 2025Q3: 1,135,000 shares; 2025Q4: 2,270,000 shares 2,270,000$120M3.9%+1,135,000Timeline
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: 925,199 shares; 2025Q3: 1,663,830 shares; 2025Q4: 1,834,874 shares 1,834,874$108M3.51%+171,044Timeline
APOLLO GLOBAL MGMT INCAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 650,000 shares; 2025Q1: 1,650,000 shares; 2025Q2: 2,100,000 shares; 2025Q3: 2,100,000 shares; 2025Q4: 900,000 shares 900,000$67.9M2.2%-1,200,000
KYIVKYIVSTAR GROUP 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: 2,137,889 shares; 2025Q4: 3,834,088 shares 3,834,088$49.8M1.62%+1,696,199Timeline
ALBEMARLE CORPALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,160,000 shares; 2024Q4: 1,160,000 shares; 2025Q1: 450,000 shares; 2025Q2: not reported; 2025Q3: 600,000 shares; 2025Q4: 600,000 shares 600,000$35.4M1.15%0
HEWLETT PACKARD ENTERPRISE CHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,400,000 shares; 2024Q4: 1,400,000 shares; 2025Q1: 1,400,000 shares; 2025Q2: 1,200,000 shares; 2025Q3: 850,000 shares; 2025Q4: 525,000 shares 525,000$34.8M1.13%-325,000
ECHOECHOSTAR 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: 25,000 shares; 2025Q4: 304,650 shares 304,650$33.1M1.07%+279,650Timeline
WBDWARNER BROS DISCOVERY 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: 774,700 shares; 2025Q3: not reported; 2025Q4: 1,000,000 shares 1,000,000$28.8M0.94%newTimeline
DCHDAUCH 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: 819,328 shares; 2025Q4: 3,737,937 shares 3,737,937$24M0.78%+2,918,609Timeline
BACCBLUE ACQUISITION CORP.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: 1,960,185 shares 1,960,185$20M0.65%newTimeline
CCCHEMOURS 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: 596,275 shares; 2025Q4: 1,651,275 shares 1,651,275$19.5M0.63%+1,055,000Timeline
UNHUNITEDHEALTH 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: 20,000 shares; 2025Q3: 32,500 shares; 2025Q4: 43,600 shares 43,600$14.4M0.47%+11,100Timeline
BORRBORR DRILLING 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: 6,386,470 shares; 2025Q4: 3,205,564 shares 3,205,564$12.9M0.42%-3,180,906Timeline
INTCINTEL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 193,000 shares; 2025Q2: 193,000 shares; 2025Q3: not reported; 2025Q4: 335,000 shares 335,000$12.4M0.4%newTimeline
IHSIHS HOLDING LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,384,276 shares; 2024Q4: 3,384,276 shares; 2025Q1: 2,102,674 shares; 2025Q2: 1,802,674 shares; 2025Q3: 1,802,674 shares; 2025Q4: 1,552,674 shares 1,552,674$11.6M0.38%-250,000Timeline
RSPINVESCO EXCHANGE TRADED FD TQuarterly 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: 54,282 shares 54,282$10.4M0.34%newTimeline
XLUSELECT SECTOR SPDR 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: 221,000 shares 221,000$9.43M0.31%newTimeline
CLSKCLEANSPARK 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: 919,500 shares 919,500$9.31M0.3%newTimeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 74,186 shares; 2025Q2: 74,186 shares; 2025Q3: 47,186 shares; 2025Q4: 59,486 shares 59,486$8.72M0.28%+12,300Timeline
MUMICRON 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: 30,000 shares; 2025Q3: not reported; 2025Q4: 30,000 shares 30,000$8.56M0.28%newTimeline
SNDKSANDISK 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: 34,000 shares 34,000$8.07M0.26%newTimeline
HYGISHARES 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: 2,124 shares; 2025Q4: 87,011 shares 87,011$7.02M0.23%+84,887Timeline
IHRTIHEARTMEDIA 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: 58,114 shares; 2025Q4: 1,623,571 shares 1,623,571$6.75M0.22%+1,565,457Timeline
CMCSACOMCAST 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: 225,000 shares 225,000$6.73M0.22%newTimeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly 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: 167,224 shares; 2025Q4: 319,787 shares 319,787$6.72M0.22%+152,563Timeline
NNNEXTNAV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 32,354 shares; 2025Q1: 272,422 shares; 2025Q2: 575,128 shares; 2025Q3: 575,128 shares; 2025Q4: 378,128 shares 378,128$6.29M0.2%-197,000Timeline
AVAVAEROVIRONMENT 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: 25,500 shares 25,500$6.17M0.2%newTimeline
FMCFMC 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: 400,000 shares 400,000$5.55M0.18%newTimeline
EWYISHARES 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: 37,000 shares; 2025Q3: 74,000 shares; 2025Q4: 53,000 shares 53,000$5.15M0.17%-21,000Timeline
EWWISHARES 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: 40,000 shares; 2025Q3: 74,000 shares; 2025Q4: 74,000 shares 74,000$5.13M0.17%0Timeline
EWJISHARES 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: 61,500 shares; 2025Q4: 61,500 shares 61,500$4.97M0.16%0Timeline
URAGLOBAL X FDSQuarterly 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: 150,000 shares; 2025Q3: 150,000 shares; 2025Q4: 115,000 shares 115,000$4.91M0.16%-35,000Timeline
TERTERADYNE 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: 50,000 shares; 2025Q4: 25,000 shares 25,000$4.84M0.16%-25,000Timeline
CORZCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 550,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 461,000 shares; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$4.37M0.14%newTimeline
KWEBKRANESHARES TRUSTQuarterly 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: 125,000 shares 125,000$4.26M0.14%newTimeline
BTDRBITDEER TECHNOLOGIES GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 689,200 shares; 2024Q4: not reported; 2025Q1: 1,202,648 shares; 2025Q2: not reported; 2025Q3: 774,003 shares; 2025Q4: 374,003 shares 374,003$4.19M0.14%-400,000Timeline
COHRCOHERENT 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: 21,000 shares 21,000$3.88M0.13%newTimeline
COGTCOGENT 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: 105,000 shares 105,000$3.73M0.12%newTimeline
GSATGLOBALSTAR 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: 60,000 shares 60,000$3.66M0.12%newTimeline
ZTSZOETIS 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: 27,700 shares 27,700$3.49M0.11%newTimeline
AVGOBROADCOM 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: 10,000 shares 10,000$3.46M0.11%newTimeline
VISNVISTANCE NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 700,000 shares; 2024Q4: 1,364,443 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 300,000 shares; 2025Q4: 188,715 shares 188,715$3.42M0.11%-111,285Timeline
HPPHUDSON PACIFIC PROPERTIES INQuarterly 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: 310,989 shares 310,989$3.37M0.11%newTimeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 337,559 shares; 2024Q4: 337,559 shares; 2025Q1: 150,059 shares; 2025Q2: 40,000 shares; 2025Q3: 60,000 shares; 2025Q4: 60,000 shares 60,000$3.22M0.1%0Timeline
TICTIC 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: 200,000 shares; 2025Q4: 300,000 shares 300,000$3.03M0.1%+100,000Timeline
DMIIDRUGS MADE IN AMER ACQ II 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: 300,000 shares 300,000$2.97M0.1%newTimeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 190,000 shares; 2024Q4: 250,000 shares; 2025Q1: 125,000 shares; 2025Q2: 430,000 shares; 2025Q3: 125,000 shares; 2025Q4: 125,000 shares 125,000$2.92M0.09%0Timeline
HTZHERTZ GLOBAL 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: 500,000 shares; 2025Q4: 556,956 shares 556,956$2.86M0.09%+56,956Timeline
CHTRCHARTER COMMUNICATIONS 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: 12,500 shares; 2025Q4: 13,500 shares 13,500$2.82M0.09%+1,000Timeline
DGDOLLAR GEN 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: 20,000 shares; 2025Q3: 20,000 shares; 2025Q4: 20,000 shares 20,000$2.66M0.09%0Timeline
HIIHUNTINGTON INGALLS 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: 7,500 shares; 2025Q4: 7,500 shares 7,500$2.55M0.08%0Timeline
TACTRANSALTA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares; 2025Q3: 200,000 shares; 2025Q4: 200,000 shares 200,000$2.53M0.08%0Timeline
MPMP MATERIALS 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: 50,000 shares 50,000$2.53M0.08%newTimeline
DLTRDOLLAR TREE 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: 40,000 shares; 2025Q3: 40,000 shares; 2025Q4: 20,000 shares 20,000$2.46M0.08%-20,000Timeline
WRBYWARBY PARKER 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$2.18M0.07%newTimeline
TDAYUSA TODAY CO 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: 400,000 shares 400,000$2.06M0.07%newTimeline
IFFINTERNATIONAL FLAVORS&FRAGRAQuarterly 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: 30,000 shares 30,000$2.02M0.07%newTimeline
LITGLOBAL X FDSQuarterly 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: 31,000 shares 31,000$2.01M0.07%newTimeline
RKTROCKET COS 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$1.94M0.06%newTimeline
METCRAMACO RES 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: 101,400 shares 101,400$1.83M0.06%newTimeline
RIOTRIOT PLATFORMS 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: 125,000 shares; 2025Q4: 125,000 shares 125,000$1.58M0.05%0Timeline
LITELUMENTUM 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: 77,200 shares; 2025Q3: 19,000 shares; 2025Q4: 4,274 shares 4,274$1.58M0.05%-14,726Timeline
EVACUEQV VENTURES AC CORP. IIQuarterly 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: 150,000 shares; 2025Q4: 150,000 shares 150,000$1.52M0.05%0Timeline
WULFTERAWULF INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,804,869 shares; 2024Q4: 500,000 shares; 2025Q1: not reported; 2025Q2: 2,695,461 shares; 2025Q3: not reported; 2025Q4: 125,000 shares 125,000$1.44M0.05%newTimeline
TKRTIMKEN 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: 14,000 shares; 2025Q3: 14,000 shares; 2025Q4: 14,000 shares 14,000$1.18M0.04%0Timeline
VOYGVOYAGER TECHNOLOGIES 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: 43,000 shares 43,000$1.12M0.04%newTimeline
GLWCORNING 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: 12,000 shares 12,000$1.05M0.03%newTimeline
CEPFCANTOR EQUITY PARTNERS IV INQuarterly 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: 100,000 shares; 2025Q4: 100,000 shares 100,000$1.03M0.03%0Timeline
ECECOPETROL S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: 200,000 shares; 2025Q3: 200,000 shares; 2025Q4: 100,000 shares 100,000$1M0.03%-100,000Timeline
BLZRTRAILBLAZER ACQUISITION 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: 100,000 shares 100,000$1M0.03%newTimeline
ASOACADEMY SPORTS & OUTDOORS INQuarterly 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$999K0.03%newTimeline
AMBAAMBARELLA 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: 14,000 shares 14,000$992K0.03%newTimeline
LGNLEGENCE 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: 15,000 shares 15,000$646K0.02%newTimeline
POETPOET TECHNOLOGIES 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$633K0.02%newTimeline
IMSRTERRESTRIAL 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: 100,000 shares 100,000$611K0.02%newTimeline
HCM III ACQUISITION CORPHCM III ACQUISITION 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: 50,000 shares; 2025Q4: 50,000 shares 50,000$514K0.02%0
FCRSFUTURECREST ACQUISITION 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: 50,000 shares 50,000$505K0.02%newTimeline
INVZINNOVIZ TECHNOLOGIES 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: 500,000 shares; 2025Q4: 500,000 shares 500,000$427K0.01%0Timeline
VRMVROOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 29,785 shares; 2025Q2: 14,472 shares; 2025Q3: 14,472 shares; 2025Q4: 13,346 shares 13,346$265K0.01%-1,126Timeline
MBVIUM3-BRIGADE ACQUISITION VI 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: 25,000 shares; 2025Q4: 25,000 shares 25,000$253K0.01%0Timeline
THCHTH INTERNATIONAL LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$249K0.01%0Timeline
KYIVWKYIVSTAR GROUP 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: 25,000 shares; 2025Q4: 25,000 shares 25,000$88.5K<0.01%0Timeline
DMIIRDRUGS MADE IN AMER ACQ II 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: 300,000 shares 300,000$42K<0.01%newTimeline
BLZRWTRAILBLAZER ACQUISITION 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: 33,332 shares 33,332$16K<0.01%newTimeline
FUTURECREST ACQUISITION CORPFUTURECREST ACQUISITION 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: 12,500 shares 12,500$9.12K<0.01%new
FISCALNOTE HOLDINGS INCFISCALNOTE 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: 150,000 shares; 2025Q2: 150,000 shares; 2025Q3: 150,000 shares; 2025Q4: 150,000 shares 150,000$4.58K<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
QQQINVESCO QQQ TR COMput452,000$278M+407,000
SPYSTATE STR SPDR S&P 500 ETF T SHScall200,000$136Mnew
INTCINTEL CORP COMcall3,680,000$136M+3,580,000
RSPINVESCO EXCHANGE TRADED FD T COMcall590,500$113Mnew
EWZISHARES INC MSCI BRAZIL ETFcall3,300,000$105M+1,800,000
KMBKIMBERLY-CLARK CORP Stockcall875,500$88.3Mnew
QQQINVESCO QQQ TR COMcall100,000$61.4Mnew
TLTISHARES TR 20 YR TR BD ETFput600,000$52.3M-2,380,000
TLTISHARES TR 20 YR TR BD ETFcall600,000$52.3M+490,000
IWMISHARES TR SHSput200,000$49.2Mnew
IWMISHARES TR SHScall200,000$49.2Mnew
NVDANVIDIA CORPORATION COMput175,000$32.6M+75,000
MSTRSTRATEGY INC Stockput200,000$30.4M+125,000
KYIVKYIVSTAR GROUP LTD ORD SHScall2,137,300$27.7Mnew
ITBISHARES TR US HOME CONS ETFcall200,000$19.3Mnew
IBITISHARES BITCOIN TRUST ETF SHSput370,800$18.4Mnew
ARKKARK ETF TR INNOVATION ETFput200,000$15.4M-1,210,000
RKTROCKET COS INC COM CL Acall563,000$10.9Mnew
DCHDAUCH CORP COMcall1,500,000$9.62M0
NVDANVIDIA CORPORATION COMcall50,000$9.32Mnew
BTDRBITDEER TECHNOLOGIES GROUP Stockcall500,000$5.61M-1,300,000
FCXFREEPORT MCMORAN INC Stockcall100,000$5.08Mnew
CORZCORE SCIENTIFIC INC NEW COMcall300,000$4.37M0
OKLOOKLO INC Stockcall20,000$1.44Mnew
SNDKSANDISK CORP COMcall5,000$1.19Mnew
OUSTOUSTER INC Stockcall10,000$216K0

Principal amounts

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

SecurityTypeAmountValueChange
ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 0.500% 3/0principal152,175,000$145M+68,600,000
ETSY INCETSY INC NOTE 0.125%10/0principal119,222,000$121M+41,500,000
ITRON INCITRON INC NOTE 3/1principal110,965,000$110Mnew
AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0principal105,002,000$106Mnew
TRIP COM GROUP LTDTRIP COM GROUP LTD NOTE 0.750% 6/1principal65,000,000$80M0
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1principal64,300,000$74.5M-19,000,000
BILL HOLDINGS INCBILL HOLDINGS INC NOTE 4/0principal80,150,000$74Mnew
MICROCHIP TECHNOLOGY INC.MICROCHIP TECHNOLOGY INC. NOTE 0.750% 6/0principal69,563,000$68.3M+29,063,000
AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1principal46,318,000$45.8M+5,156,000
FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1principal42,500,000$44.1M-88,500,000
DEXCOM INCDEXCOM INC NOTE 0.375% 5/1principal47,500,000$43.8M+3,000,000
COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.250% 4/0principal40,000,000$41.1M0
H WORLD GROUP LTDH WORLD GROUP LTD Convertible bondprincipal30,000,000$38.3M0
TYLER TEX INDPT SCH DISTTYLER TEX INDPT SCH DIST NOTE 0.250% 3/1principal37,000,000$37.4M+15,000,000
Dropbox IncDropbox Inc Convertible bondprincipal34,500,000$34.2M+20,500,000
LI AUTO INCLI AUTO INC NOTE 0.250% 5/0principal31,500,000$31.8Mnew
SPOTIFY USA INCSPOTIFY USA INC NOTE 3/1principal26,500,000$30.2Mnew
DRAFTKINGS INC NEWDRAFTKINGS INC NEW CNVprincipal32,900,000$30.1M+7,500,000
COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0principal25,024,000$25M-27,476,000
DROPBOX INCDROPBOX INC NOTE 3/0principal24,500,000$24.7M+3,000,000
BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertibleprincipal21,730,000$24.5M-9,500,000
THE REALREAL INCTHE REALREAL INC DEBT 4.000% 2/1principal13,897,000$23.6M-1,200,000
COGENT BIOSCIENCES INCCOGENT BIOSCIENCES INC NOTE 1.625%11/1principal16,000,000$18.7Mnew
PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0principal16,877,000$17.4Mnew
EXACT SCIENCES CORPEXACT SCIENCES CORP NOTE 0.375% 3/1principal13,811,000$14.4M+561,000
WAYFAIR INCWAYFAIR INC NOTE 1.000% 8/1principal14,095,000$14.1M+1,595,000
PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 1.000% 4/1principal11,670,000$11.6Mnew
STRATEGY INCSTRATEGY INC NOTE12/0principal12,500,000$10.3Mnew
EXACT SCIENCES CORPEXACT SCIENCES CORP NOTE 0.375% 3/0principal8,611,000$8.85M-1,139,000
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1principal7,000,000$6.31M0
GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0principal5,612,000$5.04Mnew
ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG LTD NOTE 0.500% 6/0principal2,801,000$4.33M-149,000,000

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
HYGISHARES TR2,800,000$227Mput
LQDISHARES TR2,000,000$223Mput
EMBISHARES TR1,469,000$140Mshares
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC113,615,000$139Mprincipal
GLDSPDR GOLD TR300,000$107Mput
GLDSPDR GOLD TR250,000$88.9Mcall
MTUMISHARES TR300,000$76.9Mput
AIRBNB INC CLASS AAIRBNB INC CLASS A58,250,000$57Mprincipal
Shift4 Payments IncShift4 Payments Inc51,000,000$52.5Mprincipal
Shopify IncShopify Inc49,404,000$52Mprincipal
MUMICRON TECHNOLOGY INC250,000$41.8Mcall
GTLSCHART INDS INC208,634$41.8Mshares
EWYISHARES INC500,000$40Mcall
KWEBKRANESHARES TRUST909,000$38.2Mcall
EAELECTRONIC ARTS INC185,440$37.4Mshares
EEMISHARES TR652,100$34.8Mcall
PEABODY ENGR CORPPEABODY ENGR CORP18,750,000$28.2Mprincipal
FXIISHARES TR500,000$20.6Mcall
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL33,376$16.1Mshares
ECHOECHOSTAR CORP160,000$12.2Mcall
GEOGEO GROUP INC550,000$11.3Mcall
TSLATESLA INC25,000$11.1Mcall
CCJCAMECO CORP132,500$11.1Mshares
XHBSPDR SERIES TRUST100,000$11.1Mcall
UNITI GROUP LLCUNITI GROUP LLC9,500,000$10.4Mprincipal
NEENEXTERA ENERGY INC200,000$10Mshares
CELCUITY INCCELCUITY INC7,000,000$9.34Mprincipal
TECKTECK RESOURCES LTD200,000$8.78Mcall
VVISA INC22,200$7.58Mput
UNITUNITI GROUP LLC1,136,000$6.95Mshares
BLCOBAUSCH PLUS LOMB CORP455,332$6.86Mshares
IBITISHARES BITCOIN TRUST ETF100,000$6.5Mcall
OPTUOPTIMUM COMMUNICATIONS INC2,600,000$6.27Mshares
KVUEKENVUE INC350,000$5.68Mcall
GFRGREENFIRE RES LTD NEW1,157,749$5.35Mshares
ASHRDBX ETF TR157,000$5.18Mshares
FYBRFRONTIER COMMUNICATIONS PARE136,623$5.1Mshares
CIFRCIPHER DIGITAL INC400,000$5.04Mcall
WBDWARNER BROS DISCOVERY INC250,000$4.88Mput
DLRDIGITAL RLTY TR INC27,200$4.7Mshares
GLNGGOLAR LNG LTD100,000$4.04Mput
DUOLDUOLINGO INC12,500$4.02Mput
ASMLASML HLDG NV4,000$3.87Mshares
LTHLIFE TIME GROUP HOLDINGS INC115,000$3.17Mshares
EWZISHARES INC100,000$3.1Mshares
PSFEPAYSAFE LIMITED239,188$3.09Mshares
CCLCARNIVAL CORP106,100$3.07Mshares
DMIIUDRUGS MADE IN AMER ACQ II CO300,000$2.98Mshares
EYENATIONAL VISION HLDGS INC100,000$2.92Mshares
ORCLORACLE CORP10,000$2.81Mput
GRABGRAB HOLDINGS LIMITED433,200$2.61Mshares
WLACWILLOW LANE ACQUISITION CORP200,000$2.32Mshares
SPYSTATE STR SPDR S&P 500 ETF T3,394$2.26Mshares
RHRH10,400$2.11Mshares
ALNYALNYLAM PHARMACEUTICALS INC4,104$1.87Mshares
DDOGDATADOG INC12,390$1.76Mshares
HUTHUT 8 CORP50,000$1.74Mshares
HCM II ACQUISITION CORPHCM II ACQUISITION CORP100,000$1.64Mshares
BLZRUTRAILBLAZER ACQUISITION CORP100,000$1.02Mshares
EHTHEHEALTH INC232,589$1Mshares
SYMSYMBOTIC INC17,500$943Kcall
AMCOR PLCAMCOR PLC113,800$931Kcall
AXONAXON ENTERPRISE INC1,250$897Kshares
HTZWWHERTZ GLOBAL HLDGS INC200,000$744Kshares
CODICOMPASS DIVERSIFIED100,200$663Kput
SOUNSOUNDHOUND AI INC39,000$627Kshares
FCRSUFUTURECREST ACQUISITION CORP50,000$530Kshares
ONON SEMICONDUCTOR CORP7,872$388Kshares
TDSTELEPHONE & DATA SYS INC9,398$369Kshares

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 0000905148-26-000843 base2026-02-17acceptance time not in the bulk data set