Teramo Advisors, LLC
Portfolio value QoQ: +11.6% 13F does not disclose cash
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 9.7% Est. buys $48,677,850 · sells $63,475,450
Median holding: 2.0 quarters Tracked Q1 2025–Q2 2026 · 15.4% still held
Put-notional exposure: 22.6% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
Sector breakdown
Full portfolio 4 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| IVV | $269,600,400 | 50.94% | 360,000 | $76,903,450 | Up ×5 | ||
| SPY | $138,152,450 | 26.10% | 185,000 | $-37,439,350 | Down ×2 | ||
| SPY | $119,483,200 | 22.58% | 160,000 | Put option | $15,428,800 | ||
| OPER | $2,001,500 | 0.38% | 20,000 | $-100 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| IVV | $269,600,400 | 50.94% | up ×5 |
Top movers (QoQ)
Exited positions
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.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| RSP | Dec. 31, 2025 | 26,300 | $4,989,110 | 10.2% |
| RYN | Sept. 30, 2025 | 175,720 | $3,897,470 | -32.0% |
| PL | Sept. 30, 2025 | 500,700 | $3,054,270 | 34.8% |
| GOOGL | March 31, 2026 | 2,220 | $694,860 | 19.5% |
| META | Sept. 30, 2025 | 600 | $442,854 | -0.9% |
| AMZN | Sept. 30, 2025 | 1,780 | $390,514 | 14.6% |
| AVGO | Sept. 30, 2025 | 1,160 | $319,754 | 7.6% |
| XOM | Sept. 30, 2025 | 2,800 | $301,840 | 45.5% |
| NOW | Sept. 30, 2025 | 261 | $268,329 | -27.0% |
| AAPL | March 31, 2026 | 967 | $262,889 | 31.5% |
| NFLX | Sept. 30, 2025 | 192 | $257,113 | -94.4% |
| WMT | Sept. 30, 2025 | 2,565 | $250,806 | 1.2% |
| JPM | Sept. 30, 2025 | 772 | $223,811 | 5.4% |
| CNP | Dec. 31, 2025 | 5,710 | $221,548 | -1.4% |
| PM | March 31, 2026 | 1,360 | $218,144 | 13.4% |
| SPGI | March 31, 2026 | 414 | $216,352 | -9.2% |
| FE | March 31, 2026 | 4,800 | $214,896 | -14.4% |
| AAPL | June 30, 2025 | 967 | $214,800 | 62.6% |
| CRM | Sept. 30, 2025 | 786 | $214,334 | -1.0% |
| SHEL | Sept. 30, 2025 | 3,000 | $211,230 | 34.5% |
| CRM | March 31, 2026 | 786 | $208,219 | 25.7% |
| V | March 31, 2026 | 591 | $207,270 | 19.3% |
| EFX | Dec. 31, 2025 | 794 | $203,685 | -35.5% |
| BSX | Dec. 31, 2025 | 2,050 | $200,142 | -55.3% |