Matthew Halbower's event-driven fund - merger arbitrage and special situations expressed through equities.
| # | Holding | Our call | % of book | Value | Shares | QoQ |
|---|---|---|---|---|---|---|
| 1 | EA | Sell | 18.6% | $2.61B | 12.8M | Added+17% |
| 2 | SPYPut | — | — | $1.96B | 3.01M | Added+32% |
| 3 | BA | Hold | 10.0% | $1.41B | 7.07M | Added+7% |
| 4 | WBD | Hold | 9.8% | $1.38B | 50.2M | Added+9% |
| 5 | CAR | Avoid | 7.3% | $1.03B | 7.05M | Added+127% |
| 6 | BAPut | Hold | — | $1.00B | 5.04M | Trimmed-8% |
| 7 | NSC | Hold | 6.6% | $924M | 3.22M | Added+7% |
| 8 | KVUE | Hold | 6.4% | $896M | 52.0M | Trimmed-8% |
| 9 | UNHCall | Sell | — | $768M | 2.84M | — |
| 10 | MASI | — | 4.0% | $565M | 3.18M | NEW |
| 11 | SPY | — | 2.7% | $377M | 580K | Added+5700% |
| 12 | CORZ | Avoid | 2.6% | $372M | 24.9M | Trimmed-3% |
| 13 | TECK | — | 2.6% | $360M | 6.96M | Added+7% |
| 14 | HOLOGIC INC | — | 2.4% | $340M | 4.50M | Added+6% |
| 15 | ARCELLX INC | — | 2.3% | $330M | 2.87M | NEW |
| 16 | CNTA | — | 2.3% | $325M | 8.17M | NEW |
| 17 | NFLXPut | Buy | — | $323M | 3.36M | Added+833% |
| 18 | NFLX | Buy | 2.1% | $297M | 3.09M | Added+865% |
| 19 | SATS | — | 2.0% | $276M | 2.36M | Added+232% |
| 20 | CWAN | — | 1.9% | $269M | 11.4M | Added+338% |
| 21 | APELLIS PHARMACEUTICALS INC | — | 1.5% | $211M | 5.25M | NEW |
| 22 | AMICUS THERAPEUTIC | — | 1.4% | $202M | 14.0M | Added+22% |
| 23 | DBRG | — | 1.3% | $181M | 11.8M | Added+2% |
| 24 | UNHPut | Sell | — | $175M | 645K | NEW |
| 25 | TXNM | Buy | 1.2% | $164M | 2.80M | Added+70% |
| 26 | GEO GROUP INC | — | 1.1% | $161M | 9.56M | Added+64% |
| 27 | CARNIVAL CORP | — | 1.1% | $157M | 6.06M | Added+39% |
| 28 | AIR LEASE CORP | — | 1.1% | $156M | 2.40M | Added+7% |
| 29 | SGRY | — | 1.1% | $151M | 12.7M | Added+27% |
| 30 | UNH | Sell | 1.0% | $139M | 512K | Added+30% |
| 31 | WBDPut | Hold | — | $134M | 4.87M | Added+38% |
| 32 | WBS | Buy | 0.9% | $130M | 1.87M | NEW |
| 33 | LBRDK | — | 0.9% | $125M | 2.49M | — |
| 34 | NFLXCall | Buy | — | $123M | 1.28M | Added+924% |
| 35 | CARCall | Avoid | — | $113M | 776K | Added+1008% |
| 36 | SLAB | Hold | 0.7% | $104M | 500K | NEW |
| 37 | QQQPut | — | — | $98.1M | 170K | NEW |
| 38 | CORZPut | Avoid | — | $86.8M | 5.80M | Added+314% |
| 39 | CARNIVAL CORPPut | — | — | $82.2M | 3.17M | Added+20% |
| 40 | CZR | Hold | 0.5% | $70.0M | 2.65M | NEW |
| 41 | KVUECall | Hold | — | $53.4M | 3.10M | Trimmed-24% |
| 42 | UALPut | Hold | — | $48.8M | 530K | NEW |
| 43 | CORZCall | Avoid | — | $47.9M | 3.20M | Added+38% |
| 44 | UAL | Hold | 0.3% | $46.0M | 500K | NEW |
| 45 | ONESTREAM INC | — | 0.3% | $45.4M | 1.89M | NEW |
| 46 | PSKY | Buy | 0.3% | $37.0M | 4.10M | Added+19% |
| 47 | HCA | Buy | 0.3% | $35.5M | 75.0K | NEW |
| 48 | QQQ | — | 0.2% | $34.6M | 60.0K | NEW |
| 49 | PSKYPut | Buy | — | $33.4M | 3.70M | — |
| 50 | NSCPut | Hold | — | $29.6M | 103K | NEW |
| 51 | KVUEPut | Hold | — | $25.9M | 1.50M | Trimmed-80% |
| 52 | PNFP | Hold | 0.2% | $25.8M | 300K | NEW |
| 53 | THC | Buy | 0.2% | $23.6M | 125K | NEW |
| 54 | ORCL | Hold | 0.2% | $22.8M | 155K | NEW |
| 55 | EWUPut | — | — | $22.8M | 500K | NEW |
| 56 | DAY ONE BIOPHARMACEUTICALS I | — | 0.1% | $17.2M | 800K | NEW |
| 57 | SATSPut | — | — | $14.0M | 120K | Added+20% |
| 58 | CARNIVAL CORPCall | — | — | $12.9M | 500K | NEW |
| 59 | EWGPut | — | — | $11.9M | 300K | NEW |
| 60 | GPCR | — | 0.1% | $11.8M | 245K | NEW |
| 61 | CHTRPut | Buy | — | $10.8M | 50.0K | — |
| 62 | ORCLPut | Hold | — | $10.3M | 70.0K | NEW |
| 63 | BACall | Hold | — | $9.95M | 50.0K | NEW |
| 64 | AMC | — | 0.1% | $9.18M | 9.37M | NEW |
| 65 | LBRDA | — | 0.1% | $8.54M | 170K | — |
| 66 | RNA | — | 0.1% | $8.06M | 603K | NEW |
| 67 | KWEB | — | 0.1% | $7.11M | 250K | NEW |
| 68 | AES | Hold | 0.1% | $7.04M | 500K | NEW |
| 69 | SATSCall | — | — | $5.85M | 50.0K | NEW |
| 70 | FPS | — | 0.0% | $4.68M | 160K | NEW |
| 71 | GDXPut | — | — | $4.59M | 50.0K | NEW |
| 72 | UPS | Hold | 0.0% | $4.43M | 45.0K | NEW |
| 73 | SPYCall | — | — | $3.25M | 5.00K | NEW |
| 74 | DCH | — | 0.0% | $3.08M | 520K | NEW |
| 75 | COPXPut | — | — | $2.86M | 37.5K | NEW |
| 76 | MDLN | Hold | 0.0% | $2.23M | 50.0K | NEW |
| 77 | CANTALOUPE INC | — | 0.0% | $2.16M | 200K | NEW |
| 78 | PRTCY | — | 0.0% | $1.04M | 70.0K | — |
| 79 | CXW | — | 0.0% | $946K | 50.0K | NEW |
| 80 | ATLANTA BRAVES HLDGS INC | — | 0.0% | $854K | 20.0K | Trimmed-78% |
| 81 | GEO GROUP INCCall | — | — | $841K | 50.0K | NEW |
| 82 | ENTREPRENEURSHARES SERIES TR | — | 0.0% | $777K | 46.0K | NEW |
| 83 | CRWV | Hold | 0.0% | $736K | 9.50K | Trimmed-92% |
| 84 | FRMI | — | 0.0% | $730K | 125K | Added+67% |
| 85 | RDDT | Buy | 0.0% | $673K | 5.00K | NEW |
| 86 | WYFICall | — | — | $417K | 35.0K | Added+250% |
| 87 | CRWVPut | Hold | — | $387K | 5.00K | Trimmed-97% |
| 88 | GLXY | Hold | 0.0% | $369K | 20.0K | NEW |
| 89 | KTOS | Sell | 0.0% | $353K | 5.00K | NEW |
| 90 | FRMICall | — | — | $292K | 50.0K | NEW |
| 91 | CIFR | Avoid | 0.0% | $193K | 15.0K | NEW |
| 92 | WYFI | — | 0.0% | $119K | 10.0K | — |
Source: SEC Form 13F-HR. Positions are as-of quarter end (filed up to 45 days later) and cover US-listed equities only — shorts, non-US listings and most derivatives don’t appear. Values as reported by the filer. “Our call” is TENK/calls’s independent SEC-grounded verdict, not the fund’s view.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.