Q1 2026 · 13F-HR
Isabella Capital Management LLPholdings as filed
Filed 2026-05-15 · accession 0000902664-26-002480
$134.9M
Reported value
9
Positions
2026-03-31
Period end
The Brief · Isabella Capital Management LLP · Q1 2026
AI · grounded in 13F
Isabella Capital Management LLP closed its position in [[stock:EQXCN 4.75 10/15/28]] for a reduction of $11.79M. The fund established a new position in [[stock:MSTR 0 03/01/30]] worth $8.72M and added SMCI with a new position of $1.14M. Additionally, the fund increased its holdings in [[stock:MARA 2.125 09/01/31]] by 35% and [[stock:BABA 0.5 06/01/31]] by 14.58%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464288513 | HYG | ISHARES TR | $39.8M | 29.5% | 500,000 | PUT | SOLE |
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $38.2M | 28.3% | 27,500,000 | Common | SOLE |
| 464288513 | HYG | ISHARES TR | $13.9M | 10.3% | 175,000 | Common | SOLE |
| 565788AD8 | MARA 2.125 09/01/31 | MARA HOLDINGS INC | $11.5M | 8.54% | 13,500,000 | Common | SOLE |
| 594972AL5 | MSTR 0.875 03/15/31 | STRATEGY INC | $9.7M | 7.17% | 10,000,000 | Common | SOLE |
| 594972AS0 | MSTR 0 12/01/29 | STRATEGY INC | $9.2M | 6.82% | 11,000,000 | Common | SOLE |
| 594972AU5 | MSTR 0 03/01/30 | STRATEGY INC | $8.7M | 6.46% | 10,000,000 | Common | SOLE |
| 594972AQ4 | MSTR 0.625 09/15/28 | STRATEGY INC | $2.8M | 2.04% | 2,500,000 | Common | SOLE |
| 86800U302 | SMCI | SUPER MICRO COMPUTER INC | $1.1M | 0.84% | 50,000 | PUT | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.