Sector breakdown

04
Communication Services 1.7%
Consumer Discretionary 0.9%
Real Estate 0.4%
Industrials 0.3%
Healthcare 0.3%
Financials 0.2%
Materials 0.1%
Retail 0.0%
Other/Unmapped 96.1%

Full portfolio 40 positions

05
Type Streak 8Q trend
Unknown issuer (CUSIP: 464288903) $1,760,147,697 31.81% 220,101 Call option Up ×1
Unknown issuer (CUSIP: 464288953) $1,571,466,479 28.40% 196,507 Put option $1,356,654,479 Up ×1
Unknown issuer (CUSIP: 78463V957) $477,052,100 8.62% 12,950 Put option $52,700,102 Up ×2
Unknown issuer (CUSIP: 464287905) $414,741,180 7.50% 13,804 Call option $207,289,180 Up ×1
Unknown issuer (CUSIP: 464287955) $414,741,180 7.50% 13,804 Put option
GLD SPDR Gold Shares $233,350,311 4.22% 633,450 $-176,909,690 Down ×1
Unknown issuer (CUSIP: 88160R901) $198,733,500 3.59% 4,725 Call option $145,759,125 Up ×2
UNIT Uniti Group Inc. - Common Stock $92,030,577 1.66% 8,023,590 $19,396,875 Up ×2
Unknown issuer (CUSIP: 88160R951) $85,171,500 1.54% 2,025 Put option $32,197,125 Up ×1
Unknown issuer (CUSIP: 78463V907) $81,043,600 1.46% 2,200 Call option $-5,014,400 Up ×1
Unknown issuer (CUSIP: 12769G900) $30,180,000 0.55% 10,000 Call option Up ×1
CZR Caesars Entertainment, Inc. - Common Stock $28,567,060 0.52% 946,556 Up ×1
Unknown issuer (CUSIP: 84615Q953) $21,613,790 0.39% 1,265 Put option Up ×1
ADT ADT Inc. Common Stock $20,319,000 0.37% 3,126,000 $6,351,180 Up ×1
SVC Service Properties Trust - Shares of Beneficial Interest $19,148,068 0.35% 11,330,218 Up ×1
FWRD Forward Air Corporation - Common Stock $18,980,375 0.34% 1,404,913 Up ×1
ALVO Alvotech - Ordinary Shares $14,902,571 0.27% 4,038,637 $5,623,378 Up ×1
Unknown issuer (CUSIP: 84615Q903) $12,558,210 0.23% 735 Call option Up ×1
Unknown issuer (CUSIP: 84615Q103) $7,918,507 0.14% 46,345 Up ×1
GNW Genworth Financial Inc Common Stock $6,765,254 0.12% 714,388 $964,423
BXMT Blackstone Mortgage Trust, Inc. Common Stock $4,096,815 0.07% 241,700 $-531,740
ASTL Algoma Steel Group Inc. - Common Shares $3,745,971 0.07% 924,931 $-73,994
OSG Octave Specialty Group, Inc. Common Stock $3,614,420 0.07% 579,234 $920,982
Unknown issuer (CUSIP: 530715AG6) $2,146,304 0.04% 47,700,000 $39,211
AQST Aquestive Therapeutics, Inc. - Common Stock $1,910,339 0.03% 459,216 $4,593
Unknown issuer (CUSIP: 04965N104) $1,872,765 0.03% 139,239 $11,140
TRTX TPG RE Finance Trust, Inc. Common Stock $1,524,654 0.03% 182,157 $102,008
Unknown issuer (CUSIP: 722304902) $1,472,204 0.03% 193 Call option $-499,870
Unknown issuer (CUSIP: 722304952) $1,472,204 0.03% 193 Put option $-499,870
PDD PDD Holdings Inc. - American Depositary Shares $1,037,408 0.02% 13,600 $-147,880 Up ×2
AIRJW AirJoule Technologies Corporation - Warrant $65,000 0.00% 50,000 $37,000
TGEWS CUSIP: G38268119 $58,500 0.00% 325,000 $-3,250
CRMLW Critical Metals Corp. - Warrants $44,625 0.00% 12,500 $1,125
GCTSWS CUSIP: 36170N115 $36,750 0.00% 75,000 $23,175
NUCLW Eagle Nuclear Energy Corp. - Warrants $36,250 0.00% 25,000 $1,500
BNAIW Brand Engagement Network Inc. - Warrant $23,333 0.00% 166,666 $-20,000
COCHW Envoy Medical, Inc. - Warrant $13,055 0.00% 262,156 $-4,352
BGLWW Blue Gold Limited - Warrant $7,208 0.00% 75,000 $-7,792
DAICW CID HoldCo, Inc. - Warrants $769 0.00% 62,500 $-887
TVGNW Tevogen Bio Holdings Inc. - Warrant $710 0.00% 12,500 $286

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 464288903) $1,760,147,697 220,101 31.81%
Unknown issuer (CUSIP: 464287955) $414,741,180 13,804 7.50%
Unknown issuer (CUSIP: 12769G900) $30,180,000 10,000 0.55%
CZR $28,567,060 946,556 0.52%
Unknown issuer (CUSIP: 84615Q953) $21,613,790 1,265 0.39%
SVC $19,148,068 11,330,218 0.35%
FWRD $18,980,375 1,404,913 0.34%
Unknown issuer (CUSIP: 84615Q903) $12,558,210 735 0.23%
Unknown issuer (CUSIP: 84615Q103) $7,918,507 46,345 0.14%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
· Bought more +5K +$207.3M
GLD Trimmed -320K -$176.9M
· Bought more +3K +$145.8M
· Bought more +3K +$52.7M
· Bought more +600 +$32.2M
UNIT Bought more +280K +$19.4M
ADT Bought more +1.0M +$6.4M
ALVO Bought more +1.3M +$5.6M
· Bought more +200 -$5.0M
GNW Price move only +0 +$964K

1 position hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
IWM June 30, 2026 62,365 $1,546,652,000 -6.4%
RSP Dec. 31, 2025 529,100 $100,370,270 10.2%
IGV June 30, 2026 2,000 $16,010,000 22.7%
GNW Sept. 30, 2025 1,969,200 $15,320,376 8.2%
TSLA June 30, 2026 39,400 $14,646,950 -9.5%
UNIT (filed as UNITXXXX) Sept. 30, 2025 3,234,638 $13,973,636 32.4%
NVDA Sept. 30, 2025 88,400 $13,966,316 28.2%
BSII June 30, 2025 975,000 $9,857,250 No longer tracked
AAM March 31, 2026 600,000 $6,402,000 No longer tracked
TSLA Sept. 30, 2025 15,200 $4,828,432 -14.4%
IWM Dec. 31, 2025 16,080 $3,890,717 14.3%
MAGN Dec. 31, 2025 316,854 $3,713,529 -22.7%
QQQ June 30, 2025 6,810 $3,193,345 35.0%
HYG June 30, 2026 37,500 $2,983,500
AMC June 30, 2026 2,751,699 $2,696,665 55.3%
GENVR March 31, 2026 579,230 $2,618,120 114.4%
OPTU June 30, 2026 1,765,918 $2,295,693 -33.8%
CCO June 30, 2026 756,426 $1,792,730 -0.8%
AISPW June 30, 2025 298,015 $333,777
BSIIW June 30, 2025 325,000 $71,500 No longer tracked
AAMWS March 31, 2026 300,000 $50,910 No longer tracked
SVIWF Dec. 31, 2025 25,000 $32,500 No longer tracked
SVIIR Dec. 31, 2025 50,000 $26,000 No longer tracked
LSBPW Sept. 30, 2025 232,323 $9,270 No longer tracked
VSTEW June 30, 2025 75,000 $2,543 No longer tracked
CREVW March 31, 2026 141,666 $1,034 No longer tracked
ALURWS March 31, 2026 15,311 $234 No longer tracked