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Teramo Advisors, LLC

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13F filer, CIK 1904821, Naples, FL

Teramo Advisors, LLC reported $367,454,226 across 14 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 99.78% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004871

Period
2025-09-30
Reported value
$367M
Holdings
14
Top 10 weight
99.78%
New
3
Sold out
12

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IVVadded+45,500$30.5M
RSPnew+26,300$4.99M
AAPLnew+967$246K
FEnew+4,800$220K

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
SPYreduced-65,000-$43.3M
RYNexited-175,720-$3.9M
PLexited-500,700-$3.05M
METAexited-600-$443K
AMZNexited-1,780-$391K

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 0001172661-25-004871, largest first. % of portfolio is the value over $277,519,926, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 355,000 shares; 2024Q4: 370,000 shares; 2025Q1: 410,000 shares; 2025Q2: 315,000 shares; 2025Q3: 250,000 shares 250,000$167M60.01%-65,000Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,500 shares; 2024Q4: 3,500 shares; 2025Q1: 3,500 shares; 2025Q2: 105,000 shares; 2025Q3: 150,500 shares 150,500$101M36.3%+45,500Timeline
RSPINVESCO EXCHANGE TRADED FD TQuarterly 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: 26,300 shares 26,300$4.99M1.8%newTimeline
OPERETF SER SOLUTIONSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 30,000 shares; 2025Q1: 30,000 shares; 2025Q2: 30,000 shares; 2025Q3: 30,000 shares 30,000$3M1.08%0Timeline
GOOGLALPHABET 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: 2,220 shares; 2025Q2: 2,220 shares; 2025Q3: 2,220 shares 2,220$540K0.19%0Timeline
AAPLAPPLE 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: 967 shares; 2025Q2: not reported; 2025Q3: 967 shares 967$246K0.09%newTimeline
CNPCENTERPOINT ENERGY 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: 5,710 shares; 2025Q2: 5,710 shares; 2025Q3: 5,710 shares 5,710$222K0.08%0Timeline
PMPHILIP MORRIS INTL 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: 1,360 shares; 2025Q2: 1,360 shares; 2025Q3: 1,360 shares 1,360$221K0.08%0Timeline
FEFIRSTENERGY 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: not reported; 2025Q2: not reported; 2025Q3: 4,800 shares 4,800$220K0.08%newTimeline
EFXEQUIFAX 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: not reported; 2025Q2: 794 shares; 2025Q3: 794 shares 794$204K0.07%0Timeline
VVISA 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: 591 shares; 2025Q2: 591 shares; 2025Q3: 591 shares 591$202K0.07%0Timeline
SPGIS&P GLOBAL 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: 414 shares; 2025Q2: 414 shares; 2025Q3: 414 shares 414$201K0.07%0Timeline
BSXBOSTON SCIENTIFIC 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: 2,050 shares; 2025Q2: 2,050 shares; 2025Q3: 2,050 shares 2,050$200K0.07%0Timeline

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 SHSput135,000$89.9M+10,000

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
RYNRAYONIER INC175,720$3.9Mshares
PLPLANET LABS PBC500,700$3.05Mshares
METAMETA PLATFORMS INC600$443Kshares
AMZNAMAZON COM INC1,780$391Kshares
AVGOBROADCOM INC1,160$320Kshares
XOMEXXON MOBIL CORP2,800$302Kshares
NOWSERVICENOW INC261$268Kshares
NFLXNETFLIX INC.192$257Kshares
WMTWALMART INC2,565$251Kshares
JPMJPMORGAN CHASE & CO772$224Kshares
CRMSALESFORCE INC786$214Kshares
SHELSHELL PLC3,000$211Kshares

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 0001172661-25-004871 base2025-11-14acceptance time not in the bulk data set