Investor: Howard Marks
Number of Assets: 165
Reporting Period: Q3 - 2025
Holdings at Report: $6,490,256,632
Return Since Report: +$241,861,864
Return Since Report: +3.73%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Bentley Systems Inc. | Bond | +100% | 1,886,000 | N/A | $0.94 | N/A | $1,780,384 | N/A | N/A | N/A |
| Block Inc. (XYZ) | Bond | +100% | 3,371,000 | N/A | $0.91 | N/A | $3,078,565 | N/A | N/A | N/A |
| Topgolf Callaway Brands corp | Bond | +100% | 4,446,000 | N/A | $0.99 | N/A | $4,394,870 | N/A | N/A | N/A |
| Fubotv INC | Bond | +100% | 4,538,000 | N/A | $0.99 | N/A | $4,492,619 | N/A | N/A | N/A |
| Freshpet INC | Bond | +100% | 4,300,000 | N/A | $1.13 | N/A | $4,843,950 | N/A | N/A | N/A |
| Magnite Inc. | Bond | +100% | 6,637,000 | N/A | $0.98 | N/A | $6,486,340 | N/A | N/A | N/A |
| Five9 INC | Bond | +100% | 7,783,000 | N/A | $0.89 | N/A | $6,915,195 | N/A | N/A | N/A |
| Post Holdings Inc. | Bond | +100% | 1,300,000 | N/A | $1.12 | N/A | $1,461,850 | N/A | N/A | N/A |
| Q2 Hldgs Inc. | Bond | +100% | 2,701,000 | N/A | $0.99 | N/A | $2,678,041 | N/A | N/A | N/A |
| Acres Commercial Realty Corp. (ACR) | Equity | +100% | 391,380 | 0.17% | $21.16 | N/A | $8,281,600 | N/A | N/A | N/A |
| Nabors Industries LTD | Bond | +100% | 12,833,000 | N/A | $0.77 | N/A | $9,881,410 | N/A | N/A | N/A |
| Enphase Energy Inc. | Bond | +100% | 13,060,000 | N/A | $0.98 | N/A | $12,766,779 | N/A | N/A | N/A |
| Digitalocean Hldgs Inc. | Bond | +100% | 2,031,000 | N/A | $0.94 | N/A | $1,918,177 | N/A | N/A | N/A |
| Bill Holdings Inc. | Bond | +100% | 3,357,000 | N/A | $0.93 | N/A | $3,132,920 | N/A | N/A | N/A |
| Upwork Inc. | Bond | +100% | 4,646,000 | N/A | $0.97 | N/A | $4,509,709 | N/A | N/A | N/A |
| Southern Cothe | Bond | +100% | 4,557,000 | N/A | $1.11 | N/A | $5,076,498 | N/A | N/A | N/A |
| Lantheus Holdings Inc. | Bond | +100% | 6,275,000 | N/A | $1.05 | N/A | $6,615,418 | N/A | N/A | N/A |
| Liberty Latin America Ltd. (LILA) | Equity | +100% | 846,474 | 0.14% | $8.29 | $8.60 | $7,017,269 | $7,275,444 | +$258,175 | +3.68% |
| Vertex INC | Bond | +100% | 7,250,000 | N/A | $1.02 | N/A | $7,395,000 | N/A | N/A | N/A |
| Altice Usa Inc. (ATUS) | Equity | 0% | 7,500,000 | 0.36% | $2.41 | $1.94 | $18,075,000 | $14,550,000 | -$3,525,000 | -19.50% |
| Ecovyst Inc. (ECVT) | Equity | +100% | 2,859,022 | 0.50% | $8.76 | $9.26 | $25,045,032 | $26,460,249 | +$1,415,217 | +5.65% |
| Ternium S.A. (TX) | Equity | -2.41% | 897,509 | 0.63% | $34.73 | $38.00 | $31,170,487 | $34,105,342 | +$2,934,855 | +9.42% |
| Airbnb Inc. | Bond | +100% | 39,353,000 | N/A | $0.98 | N/A | $38,565,940 | N/A | N/A | N/A |
| Nu Holdings Ltd. (NU) | Equity | +100% | 4,518,884 | 1.46% | $16.01 | $17.00 | $72,347,332 | $76,798,434 | +$4,451,102 | +6.15% |
| Itaú Unibanco Holding S.A. (ITUB) | Equity | +15.10% | 12,665,801 | 1.87% | $7.34 | $7.30 | $92,966,986 | $92,460,347 | -$506,639 | -0.54% |
| Anglogold Ashanti PLC (AU) | Equity | -15.41% | 4,185,261 | 5.92% | $70.33 | $83.28 | $294,349,406 | $348,527,610 | +$54,178,204 | +18.41% |
| Fastly Inc. | Bond | +100% | 1,354,000 | N/A | $0.96 | N/A | $1,297,808 | N/A | N/A | N/A |
| Ascendis Pharma As | Bond | +100% | 1,000,000 | N/A | $1.36 | N/A | $1,363,750 | N/A | N/A | N/A |
| Groupon Inc. | Bond | +100% | 2,382,000 | N/A | $0.97 | N/A | $2,298,630 | N/A | N/A | N/A |
| Battalion Oil Corp. (BATL) | Equity | +0.13% | 3,013,823 | 0.07% | $1.21 | $1.16 | $3,646,725 | $3,496,035 | -$150,690 | -4.13% |
| Redwood Trust Inc. | Bond | +100% | 5,583,000 | N/A | $1.00 | N/A | $5,599,749 | N/A | N/A | N/A |
| Nextera Energy INC | Bond | +100% | 7,568,000 | N/A | $1.18 | N/A | $8,956,727 | N/A | N/A | N/A |
| Upstart Holdings Inc. | Bond | +100% | 11,443,000 | N/A | $0.95 | N/A | $10,899,457 | N/A | N/A | N/A |
| Snap | Bond | +100% | 15,339,000 | N/A | $0.89 | N/A | $13,697,727 | N/A | N/A | N/A |
| Spectrum Brands Holdings INC | Bond | +100% | 16,221,000 | N/A | $0.93 | N/A | $15,113,916 | N/A | N/A | N/A |
| Livanova PLC | Bond | +100% | 15,085,000 | N/A | $1.08 | N/A | $16,252,986 | N/A | N/A | N/A |
| First Majestic Silver Corp. | Bond | +100% | 18,133,000 | N/A | $1.09 | N/A | $19,679,744 | N/A | N/A | N/A |
| Cracker Barrel Old Country Store Inc. | Bond | +100% | 24,773,000 | N/A | $0.96 | N/A | $23,800,659 | N/A | N/A | N/A |
| Star Bulk Carriers Corp. (SBLK) | Equity | -39.24% | 1,962,892 | 0.73% | $18.59 | $18.26 | $36,490,162 | $35,838,482 | -$651,680 | -1.79% |
| Liberty Latin America Ltd. (LILAK) | Equity | +186.44% | 6,669,823 | 1.13% | $8.44 | $8.67 | $56,293,306 | $57,794,016 | +$1,500,710 | +2.67% |
| Core Scientific Inc. (CORZ) | Equity | +100% | 6,400,708 | 2.31% | $17.94 | $16.83 | $114,828,701 | $107,691,912 | -$7,136,789 | -6.22% |
| Irhythm Technologies INC | Bond | +100% | 900,000 | N/A | $1.38 | N/A | $1,239,300 | N/A | N/A | N/A |
| Peloton Interactive Inc. | Bond | +100% | 1,354,000 | N/A | $0.98 | N/A | $1,331,997 | N/A | N/A | N/A |
| On Semiconductor Corp. | Bond | +100% | 1,950,000 | N/A | $1.14 | N/A | $2,223,975 | N/A | N/A | N/A |
| Guess INC | Bond | +100% | 3,621,000 | N/A | $0.99 | N/A | $3,594,704 | N/A | N/A | N/A |
| Tripcom Group LTD | Bond | +100% | 4,224,000 | N/A | $1.28 | N/A | $5,404,608 | N/A | N/A | N/A |
| Magnachip Semiconductor Corp. (MX) | Equity | 0% | 2,849,858 | 0.18% | $3.13 | $2.76 | $8,920,055 | $7,865,608 | -$1,054,447 | -11.82% |
| Meritage Homes corp | Bond | +100% | 12,695,000 | N/A | $1.03 | N/A | $13,056,327 | N/A | N/A | N/A |
| Amphastar Pharmaceuticals INC | Bond | +100% | 17,825,000 | N/A | $0.91 | N/A | $16,245,661 | N/A | N/A | N/A |
| Telecom Argentina S.A. (TEO) | Equity | -0.56% | 2,629,483 | 0.38% | $7.27 | $11.83 | $19,116,341 | $31,106,784 | +$11,990,443 | +62.72% |
| Array Technologies Inc. | Bond | +100% | 24,689,000 | N/A | $0.87 | N/A | $21,467,508 | N/A | N/A | N/A |
| JBS NV | Equity | +562.34% | 1,580,400 | 0.47% | $14.93 | $0.00 | $23,595,371 | $0 | -$23,595,371 | -100% |
| Talen Energy Corporation (TLN) | Call | +100% | 65,000 | N/A | $425.38 | N/A | $27,649,700 | N/A | N/A | N/A |
| Bioxcel Therapeutics INC | Equity | 0% | 241,188 | 0.01% | $2.56 | $0.00 | $617,443 | $0 | -$617,443 | -100% |
| Transportadora De Gas Del Sur S.A. (TGS) | Equity | -58.93% | 56,522 | 0.02% | $21.03 | $31.64 | $1,188,657 | $1,788,356 | +$599,699 | +50.45% |
| Ziff Davis INC | Bond | +100% | 1,351,000 | N/A | $0.97 | N/A | $1,307,092 | N/A | N/A | N/A |
| Uber Technologies | Bond | +100% | 1,503,000 | N/A | $1.47 | N/A | $2,213,167 | N/A | N/A | N/A |
| Unity Software Inc. | Bond | +100% | 3,751,000 | N/A | $0.95 | N/A | $3,581,267 | N/A | N/A | N/A |
| Pennymac Mortgage Investment Trust | Bond | +100% | 5,411,000 | N/A | $1.00 | N/A | $5,400,178 | N/A | N/A | N/A |
| Repligen Corp. | Bond | +100% | 8,822,000 | N/A | $1.01 | N/A | $8,892,576 | N/A | N/A | N/A |
| Bridgebio Pharma Inc. | Bond | +100% | 10,757,000 | N/A | $0.99 | N/A | $10,630,605 | N/A | N/A | N/A |
| Tetra Tech Inc. | Bond | +100% | 11,905,000 | N/A | $1.08 | N/A | $12,902,043 | N/A | N/A | N/A |
| CMS Energy Corp. | Bond | +100% | 17,343,000 | N/A | $1.10 | N/A | $19,033,942 | N/A | N/A | N/A |
| Jazz Pharmaceuticals PLC | Bond | +100% | 16,700,000 | N/A | $1.19 | N/A | $19,856,300 | N/A | N/A | N/A |
| Vale S.A. (VALE) | Equity | 0% | 2,033,706 | 0.44% | $10.86 | $12.65 | $22,086,047 | $25,716,212 | +$3,630,165 | +16.44% |
| Pebblebrook Hotel Trust | Bond | +100% | 26,176,000 | N/A | $0.99 | N/A | $25,861,496 | N/A | N/A | N/A |
| Sea Ltd | Bond | +100% | 37,028,000 | N/A | $0.96 | N/A | $35,554,285 | N/A | N/A | N/A |
| Bausch + Lomb Corp. (BLCO) | Equity | +28.72% | 3,245,439 | 0.98% | $15.07 | $16.96 | $48,908,765 | $55,042,645 | +$6,133,880 | +12.54% |
| Runway Growth Finance Corp. (RWAY) | Equity | -15.34% | 8,279,667 | 1.69% | $10.16 | $9.32 | $84,121,427 | $77,166,496 | -$6,954,931 | -8.27% |
| Liberty Global Ltd. (LBTYA) | Equity | +4.13% | 8,551,191 | 1.97% | $11.46 | $11.22 | $97,996,648 | $95,901,607 | -$2,095,041 | -2.14% |
| Torm PLC (TRMD) | Equity | 0% | 40,581,120 | 16.79% | $20.57 | $20.56 | $834,580,551 | $834,266,665 | -$313,886 | -0.04% |
| Ishares Russell 2000 ETF (IWM) | Put | +100% | 220,000 | N/A | $241.96 | N/A | $53,231,200 | N/A | N/A | N/A |
| Wayfair Inc. | Bond | +100% | 900,000 | N/A | $1.53 | N/A | $1,373,649 | N/A | N/A | N/A |
| Bridgebio Pharma Inc. | Bond | +100% | 1,850,000 | N/A | $1.41 | N/A | $2,600,637 | N/A | N/A | N/A |
| Two Harbors Investment Corp. | Bond | +100% | 3,724,000 | N/A | $1.00 | N/A | $3,724,001 | N/A | N/A | N/A |
| Vail Resorts Inc. | Bond | +100% | 6,090,000 | N/A | $0.99 | N/A | $6,019,965 | N/A | N/A | N/A |
| Haemonetics Corp. | Bond | +100% | 9,246,000 | N/A | $0.98 | N/A | $9,084,206 | N/A | N/A | N/A |
| Shake Shack Inc. | Bond | +100% | 11,716,000 | N/A | $0.95 | N/A | $11,152,167 | N/A | N/A | N/A |
| Shift4 Payments Inc. | Bond | +100% | 14,544,000 | N/A | $0.99 | N/A | $14,348,856 | N/A | N/A | N/A |
| WEC Energy Group INC | Bond | +100% | 12,414,000 | N/A | $1.23 | N/A | $15,256,805 | N/A | N/A | N/A |
| Coinbase Global INC | Bond | +100% | 13,010,000 | N/A | $1.26 | N/A | $16,382,842 | N/A | N/A | N/A |
| Envista Holdings Corp. | Bond | +100% | 25,479,000 | N/A | $0.95 | N/A | $24,093,579 | N/A | N/A | N/A |
| California Resources Corp. (CRC) | Equity | -49.56% | 694,502 | 0.74% | $53.18 | $48.37 | $36,933,616 | $33,595,145 | -$3,338,471 | -9.04% |
| Cable One Inc. | Bond | +100% | 58,746,000 | N/A | $0.98 | N/A | $57,365,743 | N/A | N/A | N/A |
| Sunopta Inc. (STKL) | Equity | 0% | 20,726,126 | 2.44% | $5.86 | $3.86 | $121,426,116 | $79,899,216 | -$41,526,900 | -34.20% |
| Marriott International Inc. (MAR) | Put | +100% | 150,000 | N/A | $260.44 | N/A | $39,066,000 | N/A | N/A | N/A |
| Tpi Composites Inc. (TPIC) | Equity | 0% | 4,610,003 | 0.00% | $0.03 | $0.13 | $142,910 | $585,470 | +$442,560 | +309.68% |
| Fiverr International 01112025 | Bond | +100% | 1,049,000 | N/A | $1.00 | N/A | $1,049,209 | N/A | N/A | N/A |
| Esperion Therapeutics Inc. | Bond | +100% | 2,114,000 | N/A | $1.00 | N/A | $2,109,772 | N/A | N/A | N/A |
| Neogenomics Inc. | Bond | +100% | 3,930,000 | N/A | $0.87 | N/A | $3,399,450 | N/A | N/A | N/A |
| Legence corp | Equity | +100% | 175,000 | 0.11% | $30.81 | N/A | $5,391,750 | N/A | N/A | N/A |
| Bandwidth Inc. | Bond | +100% | 8,630,000 | N/A | $0.85 | N/A | $7,370,020 | N/A | N/A | N/A |
| Bausch Health Companies Inc. (BHC) | Equity | 0% | 1,270,000 | 0.16% | $6.45 | $7.03 | $8,191,500 | $8,928,100 | +$736,600 | +8.99% |
| Blackline INC | Bond | +100% | 8,148,000 | N/A | $1.04 | N/A | $8,481,333 | N/A | N/A | N/A |
| Smartrent Inc. (SMRT) | Equity | 0% | 7,505,294 | 0.21% | $1.41 | $2.06 | $10,582,465 | $15,423,379 | +$4,840,914 | +45.74% |
| Dexcom Inc. | Bond | +100% | 12,963,000 | N/A | $0.99 | N/A | $12,875,499 | N/A | N/A | N/A |
| Biomarin Pharmaceutical Inc. (BMRN) | Bond | +100% | 19,719,000 | N/A | $0.95 | N/A | $18,742,909 | N/A | N/A | N/A |
| Aerovironment INC | Bond | +100% | 17,763,000 | N/A | $1.24 | N/A | $22,052,764 | N/A | N/A | N/A |
| JD.com Inc. | Bond | +100% | 23,821,000 | N/A | $1.08 | N/A | $25,655,217 | N/A | N/A | N/A |
| Etsy | Bond | +100% | 39,330,000 | N/A | $0.89 | N/A | $34,836,547 | N/A | N/A | N/A |
| Echostar Corp. (SATS) | Equity | +100% | 600,000 | 0.92% | $76.36 | $106.77 | $45,816,000 | $64,059,000 | +$18,243,000 | +39.82% |
| Kilroy Realty Corp. (KRC) | Equity | 0% | 1,850,011 | 1.57% | $42.25 | $40.29 | $78,162,964 | $74,536,943 | -$3,626,021 | -4.64% |
| Ftai Aviation Ltd. (FTAI) | Equity | +100% | 585,175 | 1.96% | $166.86 | $177.66 | $97,642,300 | $103,962,191 | +$6,319,890 | +6.47% |
| Expand Energy Corp. (EXE) | Equity | -0.00% | 5,062,363 | 10.82% | $106.24 | $112.90 | $537,825,445 | $571,515,471 | +$33,690,026 | +6.26% |
| Wingstop Inc. (WING) | Put | +100% | 50,000 | N/A | $251.68 | N/A | $12,584,000 | N/A | N/A | N/A |
| SPDR S&P 500 ETF Trust (SPY) | Put | +100% | 330,000 | N/A | $666.18 | N/A | $219,839,400 | N/A | N/A | N/A |
| Evolent Health INC | Bond | +100% | 1,015,000 | N/A | $0.81 | N/A | $817,582 | N/A | N/A | N/A |
| Snap Inc. | Bond | +100% | 2,063,000 | N/A | $0.96 | N/A | $1,976,104 | N/A | N/A | N/A |
| Cerence INC | Bond | +100% | 4,061,000 | N/A | $0.83 | N/A | $3,387,367 | N/A | N/A | N/A |
| Verint Systems Inc. | Bond | +100% | 4,626,000 | N/A | $0.98 | N/A | $4,539,262 | N/A | N/A | N/A |
| HDFC Bank Limited (HDB) | Equity | +78.22% | 151,206 | 0.10% | $34.16 | $35.88 | $5,165,196 | $5,424,515 | +$259,319 | +5.02% |
| Blackstone Mortgage Trust Inc. | Bond | +100% | 6,939,000 | N/A | $0.99 | N/A | $6,834,915 | N/A | N/A | N/A |
| Alvotech Sa | Warrant | +100% | 4,666,667 | N/A | $1.52 | N/A | $7,087,733 | N/A | N/A | N/A |
| Redfin Corp. | Bond | +100% | 8,120,000 | N/A | $0.93 | N/A | $7,539,420 | N/A | N/A | N/A |
| LI Auto INC | Bond | +100% | 7,279,000 | N/A | $1.14 | N/A | $8,321,716 | N/A | N/A | N/A |
| Travere Therapeutics Inc. | Bond | +100% | 9,213,000 | N/A | $1.13 | N/A | $10,432,987 | N/A | N/A | N/A |
| Alvotech (ALVO) | Equity | 0% | 1,563,676 | 0.26% | $8.19 | $5.60 | $12,806,506 | $8,756,586 | -$4,049,920 | -31.62% |
| MKS INC | Bond | +100% | 16,705,000 | N/A | $1.10 | N/A | $18,333,737 | N/A | N/A | N/A |
| Sea Limited (SE) | Equity | +69.28% | 141,368 | 0.51% | $178.73 | $123.98 | $25,266,702 | $17,526,805 | -$7,739,897 | -30.63% |
| Marriott Vacations Worldwide Corp. | Bond | +100% | 35,832,000 | N/A | $0.96 | N/A | $34,244,642 | N/A | N/A | N/A |
| Conmed Corp. | Bond | +100% | 40,513,000 | N/A | $0.95 | N/A | $38,649,661 | N/A | N/A | N/A |
| Grab Holdings Limited (GRAB) | Equity | +4.54% | 12,094,495 | 1.46% | $6.02 | $5.19 | $72,808,859 | $62,770,429 | -$10,038,430 | -13.79% |
| Cemex S.A.B. De C.V. (CX) | Equity | -29.59% | 10,448,824 | 1.89% | $8.99 | $11.42 | $93,934,927 | $119,325,570 | +$25,390,643 | +27.03% |
| Garrett Motion Inc. (GTX) | Equity | -13.55% | 31,894,816 | 8.74% | $13.62 | $17.05 | $434,407,393 | $543,647,139 | +$109,239,746 | +25.15% |
| Oracle Corporation (ORCL) | Put | +100% | 500,000 | N/A | $281.24 | N/A | $140,620,000 | N/A | N/A | N/A |
| Lyft INC | Bond | +100% | 1,100,000 | N/A | $1.29 | N/A | $1,423,125 | N/A | N/A | N/A |
| Herbalife Ltd | Bond | +100% | 2,847,000 | N/A | $0.93 | N/A | $2,653,404 | N/A | N/A | N/A |
| Affirm Holdings Inc. | Bond | +100% | 4,291,000 | N/A | $0.96 | N/A | $4,098,969 | N/A | N/A | N/A |
| Winnebago Industries INC | Bond | +100% | 4,908,000 | N/A | $0.90 | N/A | $4,407,384 | N/A | N/A | N/A |
| Ziff Davis Inc. | Bond | +100% | 6,376,000 | N/A | $0.96 | N/A | $6,132,118 | N/A | N/A | N/A |
| Dayforce Inc. | Bond | +100% | 9,382,000 | N/A | $0.98 | N/A | $9,192,014 | N/A | N/A | N/A |
| Snap | Bond | +100% | 12,977,000 | N/A | $0.92 | N/A | $12,003,623 | N/A | N/A | N/A |
| Parsons corp | Bond | +100% | 12,910,000 | N/A | $1.14 | N/A | $14,749,675 | N/A | N/A | N/A |
| Okta Inc. | Bond | +100% | 16,906,000 | N/A | $0.98 | N/A | $16,491,373 | N/A | N/A | N/A |
| Oaktree Specialty Lending Corp. (OCSL) | Equity | 0% | 1,852,456 | 0.49% | $13.05 | $13.59 | $24,174,550 | $25,174,877 | +$1,000,327 | +4.14% |
| Teladoc Health Inc. | Bond | +100% | 40,638,000 | N/A | $0.94 | N/A | $38,158,859 | N/A | N/A | N/A |
| Freeport-Mcmoran Inc. (FCX) | Equity | -24.61% | 1,504,865 | 1.19% | $39.22 | $47.46 | $59,020,805 | $71,420,893 | +$12,400,088 | +21.01% |
| Transalta Corp. (TAC) | Equity | +5.42% | 6,415,253 | 1.76% | $13.66 | $13.94 | $87,648,382 | $89,396,551 | +$1,748,169 | +1.99% |
| Talen Energy Corp. (TLN) | Equity | +124.23% | 291,117 | 2.49% | $425.38 | $358.70 | $123,835,349 | $104,422,212 | -$19,413,137 | -15.68% |
| Novocure Ltd | Bond | +100% | 4,337,000 | N/A | $0.99 | N/A | $4,309,893 | N/A | N/A | N/A |
| Guardant Health Inc. | Bond | +100% | 4,647,000 | N/A | $0.96 | N/A | $4,475,061 | N/A | N/A | N/A |
| LCI Industries | Bond | +100% | 6,406,000 | N/A | $0.96 | N/A | $6,159,369 | N/A | N/A | N/A |
| Expand Energy Corp. (CHKEL) | Warrant | +100% | 95,294 | N/A | $96.71 | N/A | $9,215,892 | N/A | N/A | N/A |
| Guardant Health INC | Bond | +100% | 9,240,000 | N/A | $1.30 | N/A | $12,053,726 | N/A | N/A | N/A |
| MGP Ingredients INC | Bond | +100% | 17,275,000 | N/A | $0.96 | N/A | $16,554,739 | N/A | N/A | N/A |
| Alarmcom Holdings Inc. | Bond | +100% | 24,757,000 | N/A | $0.99 | N/A | $24,484,673 | N/A | N/A | N/A |
| Nabors Industries Ltd. (NBR) | Equity | +100% | 737,112 | 0.61% | $40.87 | $39.73 | $30,125,767 | $29,281,774 | -$843,993 | -2.80% |
| XP Inc. (XP) | Equity | +100% | 2,032,877 | 0.77% | $18.79 | $17.70 | $38,197,758 | $35,971,759 | -$2,225,999 | -5.83% |
| Vista Energy S.A.B. De C.V. (VIST) | Equity | -10.68% | 1,841,319 | 1.27% | $34.40 | $49.34 | $63,341,373 | $90,850,679 | +$27,509,306 | +43.43% |
| Nokia Oyj (NOK) | Equity | 0% | 18,752,229 | 1.81% | $4.81 | $6.27 | $90,198,221 | $117,482,715 | +$27,284,494 | +30.25% |
| Telephone And Data Systems Inc. (TDS) | Equity | +100% | 3,688,386 | 2.91% | $39.24 | $38.49 | $144,732,266 | $141,965,977 | -$2,766,289 | -1.91% |
| Block Inc. (XYZ) | Bond | +100% | 10,014,000 | N/A | $0.97 | N/A | $9,761,146 | N/A | N/A | N/A |
| Fluor Corp. | Bond | +100% | 10,471,000 | N/A | $1.19 | N/A | $12,450,019 | N/A | N/A | N/A |
| PPL Corp. | Bond | +100% | 15,733,000 | N/A | $1.14 | N/A | $17,978,885 | N/A | N/A | N/A |
| Enphase Energy Inc. | Bond | +100% | 28,622,000 | N/A | $0.87 | N/A | $24,860,834 | N/A | N/A | N/A |
| Sarepta Therapeutics Inc. | Bond | +100% | 34,930,000 | N/A | $0.88 | N/A | $30,815,489 | N/A | N/A | N/A |
| Kanzhun Limited (BZ) | Equity | +4.60% | 1,643,572 | 0.77% | $23.36 | $19.96 | $38,393,841 | $32,805,697 | -$5,588,144 | -14.55% |
| Jetblue Airways Corp. | Bond | +100% | 68,263,000 | N/A | $0.98 | N/A | $66,644,139 | N/A | N/A | N/A |
| CBL & Associates Properties Inc. (CBL) | Equity | 0% | 3,005,126 | 1.85% | $30.58 | $37.10 | $91,896,783 | $111,490,175 | +$19,593,392 | +21.32% |
| Viper Energy INC | Equity | +100% | 6,285,062 | 4.83% | $38.22 | N/A | $240,215,074 | N/A | N/A | N/A |
| Summit Hotel Properties Inc. | Bond | +100% | 29,441,000 | N/A | $0.98 | N/A | $28,984,664 | N/A | N/A | N/A |
| United States Cellular Corp. (USM) | Equity | +100% | 724,444 | 0.73% | $50.01 | $48.80 | $36,229,444 | $35,352,867 | -$876,577 | -2.42% |
| Full Truck Alliance Co. Ltd. (YMM) | Equity | +106.13% | 3,797,697 | 0.99% | $12.97 | $11.72 | $49,256,130 | $44,509,009 | -$4,747,121 | -9.64% |
| Barrick Mining corp | Equity | +4.57% | 3,302,086 | 2.18% | $32.77 | $0.00 | $108,209,358 | $0 | -$108,209,358 | -100% |
| Indivior PLC (INDV) | Equity | -2.88% | 10,692,053 | 5.19% | $24.11 | $36.05 | $257,785,398 | $385,448,511 | +$127,663,113 | +49.52% |