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Sycale Advisors (NY) LLC

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13F filer, CIK 1811522, New York, NY

Sycale Advisors (NY) LLC reported $534,125,898 across 23 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 76.01% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004918

Period
2025-09-30
Reported value
$534M
Holdings
23
Top 10 weight
76.01%
New
4
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GLPInew+254,545$11.9M
MSFTadded+15,570$8.06M
SPOTadded+8,525$5.95M
SLMadded+187,020$5.18M
VRRMadded+204,000$5.04M

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
CMPRexited-200,454-$9.42M
EWWexited-136,500-$8.27M
TKOreduced-40,244-$8.13M
UBERexited-70,090-$6.54M
Wexited-106,588-$5.45M

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, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-004918, largest first. % of portfolio is the value over $324,641,163, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CAECAE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,295,399 shares; 2024Q4: 1,240,361 shares; 2025Q1: 1,233,825 shares; 2025Q2: 1,447,625 shares; 2025Q3: 1,556,386 shares 1,556,386$46.1M14.21%+108,761Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 56,775 shares; 2025Q2: 49,725 shares; 2025Q3: 65,295 shares 65,295$33.8M10.42%+15,570Timeline
VRRMVERRA MOBILITY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 523,308 shares; 2025Q1: 740,305 shares; 2025Q2: 997,828 shares; 2025Q3: 1,201,828 shares 1,201,828$29.7M9.14%+204,000Timeline
BURBURFORD CAPITAL LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,049,967 shares; 2024Q4: 2,157,950 shares; 2025Q1: 1,806,988 shares; 2025Q2: 1,844,310 shares; 2025Q3: 2,020,898 shares 2,020,898$24.2M7.45%+176,588Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,774 shares; 2024Q4: 182,443 shares; 2025Q1: 97,152 shares; 2025Q2: 109,102 shares; 2025Q3: 135,402 shares 135,402$22.8M7.03%+26,300Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,444 shares; 2025Q2: 6,139 shares; 2025Q3: 8,059 shares 8,059$18.8M5.8%+1,920Timeline
NNINELNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 203,658 shares; 2024Q4: 258,038 shares; 2025Q1: 222,871 shares; 2025Q2: 158,055 shares; 2025Q3: 147,361 shares 147,361$18.5M5.69%-10,694Timeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 434,630 shares; 2025Q1: 567,570 shares; 2025Q2: 388,949 shares; 2025Q3: 520,151 shares 520,151$17.9M5.51%+131,202Timeline
NCMINATIONAL CINEMEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,130,528 shares; 2025Q1: 2,393,345 shares; 2025Q2: 3,085,997 shares; 2025Q3: 3,945,070 shares 3,945,070$17.8M5.48%+859,073Timeline
SLMSLM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 443,792 shares; 2024Q4: 334,035 shares; 2025Q1: 335,838 shares; 2025Q2: 433,138 shares; 2025Q3: 620,158 shares 620,158$17.2M5.29%+187,020Timeline
GENIGENIUS SPORTS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,400,342 shares; 2025Q1: 803,235 shares; 2025Q2: 1,547,811 shares; 2025Q3: 1,309,116 shares 1,309,116$16.2M4.99%-238,695Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 245,265 shares; 2025Q2: 200,565 shares; 2025Q3: 189,811 shares 189,811$14.1M4.36%-10,754Timeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,500 shares; 2025Q3: 19,025 shares 19,025$13.3M4.09%+8,525Timeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,043 shares; 2024Q4: 44,029 shares; 2025Q1: 108,363 shares; 2025Q2: 105,103 shares; 2025Q3: 64,859 shares 64,859$13.1M4.03%-40,244Timeline
GLPIGAMING & LEISURE PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 254,545 shares 254,545$11.9M3.65%newTimeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 24,000 shares; 2025Q3: 78,800 shares 78,800$5.12M1.58%+54,800Timeline

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
SPYSTATE STR SPDR S&P 500 ETF T SHSput192,300$128M+47,300
TLTISHARES TR 20 YR TR BD ETFcall333,900$29.8M0
CAECAE INC Stockcall687,900$20.4M+235,400
IWMISHARES TR SHSput64,000$15.5Mnew
CNKCINEMARK HLDGS INC Stockcall445,000$12.5Mnew
NCMINATIONAL CINEMEDIA INC COMMON STOCKcall708,200$3.19Mnew

Principal amounts

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

SecurityTypeAmountValueChange
WAYFAIR INCWAYFAIR INC NOTE 3.250% 9/1principal2,750,000$4.17M-1,000,000

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
CMPRCIMPRESS PLC200,454$9.42Mshares
EWWISHARES INC136,500$8.27Mshares
WAYFAIR INCWAYFAIR INC5,000,000$6.76Mprincipal
UBERUBER TECHNOLOGIES INC70,090$6.54Mshares
WWAYFAIR INC106,588$5.45Mshares

How Q3 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 0001172661-25-004918 base2025-11-14acceptance time not in the bulk data set