Sector breakdown

04
Consumer Discretionary 11.7%
Real Estate 3.2%
Healthcare 2.9%
Retail 2.6%
Energy 1.5%
Financials 1.0%
Materials 0.4%
Industrials 0.2%
Communication Services 0.0%
Other/Unmapped 76.5%

Full portfolio 67 positions

05
Type Streak 8Q trend
SPY SPY $104,547,800 30.89% 140,000 Put option $59,024,000 Up ×1
SLV iShares Silver Trust $43,310,700 12.80% 810,000 Call option
TCOM Trip.com Group Limited - American Depositary Shares $31,160,000 9.21% 100,000 Put option Up ×1
GDX VanEck ETF Trust $24,144,000 7.13% 320,000 Put option $17,720,100 Up ×1
GDX VanEck ETF Trust $9,054,000 2.68% 120,000 $2,630,100 Up ×1
Unknown issuer (CUSIP: 252131AM9) $7,470,000 2.21% 8,000,000 Up ×1
Unknown issuer (CUSIP: 405024AD2) $7,110,600 2.10% 7,000,000
EWZ iShares, Inc. $6,900,000 2.04% 200,000 Call option
Unknown issuer (CUSIP: 47215PAJ5) $6,884,500 2.03% 7,000,000 $-94,500
SMH SMH $6,558,900 1.94% 10,000 Put option Up ×1
IQV IQVIA Holdings, Inc. Common Stock $6,183,040 1.83% 32,000 Call option Up ×1
COPX Global X Funds $6,157,600 1.82% 80,000 Put option Up ×1
KWEB Krane Shares Trust $5,672,146 1.68% 231,800 Call option
AMT American Tower Corporation (REIT) Common Stock $5,479,595 1.62% 33,500 Call option Up ×1
JD JD.com, Inc. - American Depositary Shares $5,458,750 1.61% 55,000 Put option Up ×1
Unknown issuer (CUSIP: 89677QAB3) $5,428,500 1.60% 5,500,000 $-276,441
NLY Annaly Capital Management Inc. Common Stock $3,801,200 1.12% 170,000 Call option Up ×1
DFTX Definium Therapeutics, Inc. - Common Shares $3,763,200 1.11% 80,000 Put option Up ×1
Unknown issuer (CUSIP: 56087FAD6) $3,648,000 1.08% 4,000,000 Up ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $2,971,200 0.88% 32,000 Call option Up ×1
Unknown issuer (CUSIP: 53680QAA6) $2,838,550 0.84% 2,860,000 $95,810
Unknown issuer (CUSIP: 64049MAB6) $2,812,490 0.83% 3,000,000 $67,490
Unknown issuer (CUSIP: 29786AAQ9) $2,323,400 0.69% 2,000,000 Up ×1
XLV SELECT SECTOR SPDR TRUST $2,221,240 0.66% 14,000
TCOM Trip.com Group Limited - American Depositary Shares $1,992,000 0.59% 50,000 Up ×1
Unknown issuer (CUSIP: 90353TAM2) $1,797,000 0.53% 1,500,000 Up ×1
Unknown issuer (CUSIP: 01609WBG6) $1,771,500 0.52% 1,500,000
BHC Bausch Health Companies Inc. Common Stock $1,725,500 0.51% 350,000 Call option $-434,500 Down ×1
CHYM Chime Financial, Inc. - Class A Common Stock $1,536,000 0.45% 75,000 Call option Up ×1
ECH iShares, Inc. $1,389,500 0.41% 35,000 $594,300 Up ×1
EXE Expand Energy Corporation - Common Stock $1,367,850 0.40% 15,000
EQT EQT Corporation Common Stock $1,329,250 0.39% 25,000
NTR Nutrien Ltd. Common Shares $1,321,950 0.39% 21,000 Call option Up ×1
SILJ Amplify Junior Silver Miners ETF $1,296,000 0.38% 50,000 Call option Up ×1
EWZ iShares, Inc. $1,207,500 0.36% 35,000 $785,210 Up ×1
Unknown issuer (CUSIP: 90353TAS9) $1,156,700 0.34% 1,000,000 Up ×1
RRC Range Resources Corporation Common Stock $1,115,700 0.33% 30,000
KWEB Krane Shares Trust $1,101,150 0.33% 45,000 $106,100 Up ×1
AR Antero Resources Corporation Common Stock $1,054,200 0.31% 30,000
NLY Annaly Capital Management Inc. Common Stock $1,006,200 0.30% 45,000 Up ×1
INDA iShares Trust $987,800 0.29% 20,000 Up ×1
DFTX Definium Therapeutics, Inc. - Common Shares $940,800 0.28% 20,000 Up ×1
IBN ICICI Bank Limited Common Stock $870,900 0.26% 30,000 Up ×1
DFTX Definium Therapeutics, Inc. - Common Shares $705,600 0.21% 15,000 Call option Up ×1
HDB HDFC Bank Limited Common Stock $645,750 0.19% 25,000 Up ×1
CMPS COMPASS Pathways Plc - American Depository Shares $636,750 0.19% 45,000 $387,900
SILJ Amplify Junior Silver Miners ETF $544,320 0.16% 21,000
Unknown issuer (CUSIP: 62886HBD2) $495,750 0.15% 500,000 $7,500
TEM Tempus AI, Inc. - Class A Common Stock $405,510 0.12% 7,000 Up ×1
BHC Bausch Health Companies Inc. Common Stock $394,400 0.12% 80,000 $16,400 Up ×1
Unknown issuer (CUSIP: 98386P102) $385,560 0.11% 21,000 Up ×1
EAF GrafTech International Ltd. Common Stock $346,935 0.10% 58,703 $264,707 Up ×1
REXR Rexford Industrial Realty, Inc. Common Stock $335,000 0.10% 10,000 Up ×1
ATAI AtaiBeckley Inc. - Common Stock $316,200 0.09% 60,000 $103,800
COPX Global X Funds $307,880 0.09% 4,000 Call option Up ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $287,940 0.09% 3,000 Up ×1
CNDT Conduent Incorporated - Common Stock $247,178 0.07% 169,300 $55,178 Up ×1
AMT American Tower Corporation (REIT) Common Stock $245,355 0.07% 1,500 Up ×1
HELP Cybin Inc. - Common Stock $240,743 0.07% 36,421 $65,922
PROP Prairie Operating Co. - Common Stock $227,273 0.07% 315,000 Up ×1
QFIN Qfin Holdings, Inc. - American Depositary Shares $221,340 0.07% 14,000
FINV FinVolution Group American Depositary Shares $167,650 0.05% 35,000 Up ×1
Unknown issuer (CUSIP: 05501U601) $114,631 0.03% 12,751 Up ×1
UAMY United States Antimony Corporation Common Stock $108,900 0.03% 15,000
EVO Evotec SE - American Depositary Shares each representing 1/2 of one ordinary share $87,794 0.03% 31,355 $9,406
CCO Clear Channel Outdoor Holdings, Inc. Common Stock $72,600 0.02% 30,000 $1,500
TMQ CUSIP: 89621C105 $35,100 0.01% 10,000 $-90,550 Down ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
SLV $43,310,700 810,000 12.80%
TCOM $31,160,000 100,000 9.21%
Unknown issuer (CUSIP: 252131AM9) $7,470,000 8,000,000 2.21%
Unknown issuer (CUSIP: 405024AD2) $7,110,600 7,000,000 2.10%
EWZ $6,900,000 200,000 2.04%
SMH $6,558,900 10,000 1.94%
IQV $6,183,040 32,000 1.83%
COPX $6,157,600 80,000 1.82%
KWEB $5,672,146 231,800 1.68%
AMT $5,479,595 33,500 1.62%
JD $5,458,750 55,000 1.61%
NLY $3,801,200 170,000 1.12%
DFTX $3,763,200 80,000 1.11%
Unknown issuer (CUSIP: 56087FAD6) $3,648,000 4,000,000 1.08%
BABA $2,971,200 32,000 0.88%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPY Bought more +70K +$59.0M
GDX Bought more +250K +$17.7M
GDX Bought more +50K +$2.6M
EWZ Bought more +24K +$785K
ECH Bought more +15K +$594K
BHC Trimmed -50K -$434K
CMPS Price move only +0 +$388K
· Price move only +0 -$276K
EAF Bought more +47K +$265K
KWEB Bought more +10K +$106K

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
GLD March 31, 2026 195,000 $77,280,450
HYG June 30, 2026 820,500 $65,278,980
SPY Dec. 31, 2025 95,000 $63,287,100 No longer tracked
SLV March 31, 2026 595,000 $38,329,900 -19.7%
QQQ March 31, 2026 49,000 $30,101,190 29.0%
IAU March 31, 2026 208,000 $16,883,360 -11.6%
IBIT Dec. 31, 2025 135,000 $8,775,000
NVDA March 31, 2026 40,000 $7,460,000 34.1%
LH June 30, 2025 28,400 $6,609,816 17.5%
CEF March 31, 2026 110,000 $5,038,000
ACHC June 30, 2025 164,000 $4,972,480 23.7%
CRM March 31, 2026 15,000 $3,973,650 25.7%
NVO Dec. 31, 2025 64,000 $3,551,360 -26.7%
CNC June 30, 2025 50,000 $3,035,500 16.0%
EWZ Sept. 30, 2025 105,000 $3,029,250
PSLV June 30, 2025 240,000 $2,784,000
KWEB Sept. 30, 2025 70,000 $2,403,100
AR March 31, 2026 65,000 $2,239,900 -19.7%
ELS March 31, 2026 35,000 $2,121,350 -6.7%
OSCR Dec. 31, 2025 110,000 $2,082,300 115.3%
SA June 30, 2025 178,007 $2,077,342 85.7%
VICI June 30, 2025 60,000 $1,957,200 -30.5%
XLV Dec. 31, 2025 14,000 $1,948,380 7.4%
QFIN Dec. 31, 2025 60,000 $1,726,800 -66.5%
ELS June 30, 2025 24,000 $1,600,800 -5.5%
MMYT June 30, 2026 40,000 $1,491,600 -16.3%
ELV Dec. 31, 2025 4,000 $1,292,480 10.2%
MNMD March 31, 2026 95,000 $1,272,050 No longer tracked
HUM March 31, 2026 4,600 $1,178,198 124.0%
SILJ June 30, 2025 95,000 $1,151,400
PRGO Sept. 30, 2025 41,500 $1,108,880 -36.0%
CVE March 31, 2026 65,000 $1,099,800 22.1%
CNQ March 31, 2026 30,000 $1,015,500 -0.6%
PPTA Dec. 31, 2025 50,000 $1,011,500 -15.8%
CNC June 30, 2026 30,000 $982,200 -1.9%
IAUXWS March 31, 2026 1,055,000 $970,600 No longer tracked
PBR March 31, 2026 80,000 $948,000 4.3%
OXY March 31, 2026 23,000 $945,760 -10.6%
CHYM Dec. 31, 2025 44,000 $887,480 8.3%
VZLA Dec. 31, 2025 195,000 $842,400 No longer tracked
JD June 30, 2025 20,000 $822,400 -21.0%
VICI Dec. 31, 2025 25,000 $815,250 -19.5%
UNH June 30, 2026 3,000 $811,770 -10.5%
VGZ March 31, 2026 380,000 $748,360 No longer tracked
ATAT June 30, 2025 25,000 $708,750 -0.8%
MOH March 31, 2026 4,000 $694,160 42.2%
GRFS March 31, 2026 70,000 $654,500 -8.9%
ARGT Dec. 31, 2025 9,300 $648,768
NU June 30, 2026 45,000 $646,650 0.5%
BKR March 31, 2026 13,000 $592,020 -8.3%
WBD Sept. 30, 2025 50,000 $573,000 58.4%
EQT March 31, 2026 10,000 $536,000 -21.2%
IQV Dec. 31, 2025 2,600 $493,844 14.6%
ODV March 31, 2026 140,000 $488,600 No longer tracked
PGEN Sept. 30, 2025 341,811 $485,372 159.6%
OKTA Dec. 31, 2025 5,250 $481,425 144.6%
FUTU Sept. 30, 2025 3,500 $432,565 -41.3%
CDE June 30, 2025 70,000 $414,400 99.3%
HL June 30, 2025 70,000 $389,200 187.1%
PAAS June 30, 2025 15,000 $387,450 60.2%
EXE March 31, 2026 3,500 $386,260 -22.1%
MAG June 30, 2025 25,000 $382,000 No longer tracked
RRC March 31, 2026 10,000 $352,600 -15.4%
SBSW June 30, 2025 70,000 $320,600 38.0%
AZULQ June 30, 2025 190,000 $311,600 No longer tracked
CTEV June 30, 2025 14,875 $306,871 -47.4%
MELI Dec. 31, 2025 130 $303,802 -15.8%
HAL March 31, 2026 10,000 $282,600 -18.3%
UAMY March 31, 2026 55,000 $276,100 -54.3%
AG June 30, 2025 40,000 $267,600 113.7%
UROY Dec. 31, 2025 60,000 $258,000 12.1%
PAM Sept. 30, 2025 3,000 $208,140 27.2%
UEC June 30, 2025 30,000 $143,400 No longer tracked
DNN June 30, 2025 100,000 $130,000 No longer tracked
DADA June 30, 2025 70,000 $129,500 No longer tracked
PLL June 30, 2025 15,000 $94,500 No longer tracked
NG Dec. 31, 2025 10,000 $88,000 No longer tracked
EVO June 30, 2025 17,005 $56,797 -61.9%
CMPS Sept. 30, 2025 20,000 $56,000 107.7%
ODVWZ March 31, 2026 24,999 $2,186 No longer tracked