Investor: Paul Singer & Jonathan Pollock
Number of Assets: 35
Reporting Period: Q3 - 2025
Holdings at Report: $22,721,159,137
Return Since Report: +$1,126,148,804
Return Since Report: +4.96%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| GCI Liberty INC | Equity | +100% | 476,895 | 0.13% | $37.27 | N/A | $17,773,877 | N/A | N/A | N/A |
| Crown Castle Inc. (CCI) | Equity | 0% | 1,225,000 | 0.87% | $96.49 | $91.05 | $118,200,250 | $111,536,250 | -$6,664,000 | -5.64% |
| SPDR S&P Metals and Mining ETF (XME) | Put | +100% | 1,400,000 | N/A | $93.19 | N/A | $130,466,000 | N/A | N/A | N/A |
| Vaneck Gold Miners ETF (GDX) | Put | +100% | 11,500,000 | N/A | $76.40 | N/A | $878,600,000 | N/A | N/A | N/A |
| Microstrategy INC | Bond | +100% | 16,000,000 | N/A | $2.24 | N/A | $35,884,000 | N/A | N/A | N/A |
| Invesco QQQ Trust (QQQ) | Call | +100% | 1,250,000 | N/A | $600.37 | N/A | $750,462,500 | N/A | N/A | N/A |
| Triple Flag Precious Metals Corp. (TFPM) | Equity | 0% | 133,815,727 | 28.72% | $29.26 | $34.72 | $3,915,448,172 | $4,645,814,410 | +$730,366,238 | +18.65% |
| The Consumer Staples Select Sector Spdr Fund (XLP) | Put | +100% | 15,000,000 | N/A | $78.37 | N/A | $1,175,550,000 | N/A | N/A | N/A |
| Hewlett Packard Enterprise Company (HPE) | Equity | 0% | 18,630,978 | 3.36% | $24.56 | $23.93 | $457,576,820 | $445,839,304 | -$11,737,516 | -2.57% |
| Ishares Expanded Tech-software Sector ETF (IGV) | Call | +100% | 1,000,000 | N/A | $115.01 | N/A | $115,010,000 | N/A | N/A | N/A |
| Ishares Iboxx $ High Yield Corp.Orate Bond ETF (HYG) | Equity | 0% | 3,800,000 | 2.26% | $81.19 | $80.63 | $308,522,000 | $306,394,000 | -$2,128,000 | -0.69% |
| OR Royalties INC | Equity | 0% | 2,180,151 | 0.64% | $40.08 | $0.00 | $87,380,452 | $0 | -$87,380,452 | -100% |
| Phillips 66 (PSX) | Equity | 0% | 19,251,000 | 19.20% | $136.02 | $141.12 | $2,618,521,020 | $2,716,701,120 | +$98,180,100 | +3.75% |
| Sensata Technologies Holding PLC (ST) | Equity | 0% | 3,250,000 | 0.73% | $30.55 | $33.73 | $99,287,500 | $109,622,500 | +$10,335,000 | +10.41% |
| Nvidia Corporation (NVDA) | Put | +100% | 4,330,000 | N/A | $186.58 | N/A | $807,891,400 | N/A | N/A | N/A |
| Pinterest Inc. (PINS) | Equity | 0% | 28,000,000 | 6.61% | $32.17 | $26.15 | $900,760,000 | $732,060,000 | -$168,700,000 | -18.73% |
| The Health Care Select Sector SPDR Fund (XLV) | Put | +100% | 2,000,000 | N/A | $139.17 | N/A | $278,340,000 | N/A | N/A | N/A |
| Digital Realty Trust Inc. (DLR) | Put | +100% | 1,000,000 | N/A | $172.88 | N/A | $172,880,000 | N/A | N/A | N/A |
| Oxford Lane CAP corp | Equity | +100% | 1,019,239 | 0.13% | $16.93 | N/A | $17,255,716 | N/A | N/A | N/A |
| SPDR S&P Oil & Gas Exploration & Production ETF (XOP) | Put | +100% | 2,400,000 | N/A | $132.20 | N/A | $317,280,000 | N/A | N/A | N/A |
| Bill Holdings Inc. (BILL) | Equity | +100% | 3,000,000 | 1.17% | $52.97 | $54.76 | $158,910,000 | $164,280,000 | +$5,370,000 | +3.38% |
| Etsy Inc. (ETSY) | Equity | 0% | 5,000,000 | 2.43% | $66.39 | $53.89 | $331,950,000 | $269,450,000 | -$62,500,000 | -18.83% |
| Ishares Russell 1000 Value ETF (IWD) | Put | +100% | 5,000,000 | N/A | $203.59 | N/A | $1,017,950,000 | N/A | N/A | N/A |
| Uniti Group LLC | Equity | +100% | 59,012,219 | 2.65% | $6.12 | N/A | $361,154,780 | N/A | N/A | N/A |
| The Energy Select Sector SPDR Fund (XLE) | Put | +100% | 8,000,000 | N/A | $89.34 | N/A | $714,720,000 | N/A | N/A | N/A |
| Equinix Inc. (EQIX) | Equity | 0% | 150,000 | 0.86% | $783.24 | $748.52 | $117,486,000 | $112,278,000 | -$5,208,000 | -4.43% |
| Ishares Expanded Tech-software Sector ETF (IGV) | Put | +100% | 2,000,000 | N/A | $115.01 | N/A | $230,020,000 | N/A | N/A | N/A |
| Pepsico Inc. (PEP) | Equity | +100% | 1,275,000 | 1.31% | $140.44 | $149.80 | $179,061,000 | $190,988,625 | +$11,927,625 | +6.66% |
| Wheaton Precious Metals Corp. (WPM) | Put | +100% | 650,000 | N/A | $111.84 | N/A | $72,696,000 | N/A | N/A | N/A |
| Southwest Airlines Co. (LUV) | Equity | -5.28% | 51,128,500 | 11.97% | $31.91 | $41.30 | $1,631,510,435 | $2,111,351,408 | +$479,840,973 | +29.41% |
| Invesco QQQ Trust (QQQ) | Put | +100% | 2,000,000 | N/A | $600.37 | N/A | $1,200,740,000 | N/A | N/A | N/A |
| Suncor Energy Inc. (SU) | Equity | 0% | 52,670,800 | 16.15% | $41.81 | $44.26 | $2,202,166,148 | $2,330,946,254 | +$128,780,106 | +5.85% |
| Wayfair Inc. | Bond | +100% | 15,000,000 | N/A | $2.07 | N/A | $31,089,900 | N/A | N/A | N/A |
| The Industrial Select Sector SPDR Fund (XLI) | Put | +100% | 7,500,000 | N/A | $154.23 | N/A | $1,156,725,000 | N/A | N/A | N/A |
| Seadrill Limited (SDRL) | Equity | 0% | 3,703,746 | 0.82% | $30.21 | $31.74 | $111,890,167 | $117,556,898 | +$5,666,731 | +5.06% |