Q4 2025 · 13F-HR
Isabella Capital Management LLPholdings as filed
Filed 2026-05-15 · accession 0000902664-26-002481
$140.6M
Reported value
8
Positions
2025-12-31
Period end
The Brief · Isabella Capital Management LLP · Q4 2025
AI · grounded in 13F
Isabella Capital Management LLP established a new position in HYG valued at $59.26M. The fund also initiated a position in ALIBABA GROUP HLDG LTD [[stock:BABA 0.5 06/01/31]] for $37.34M. Additional new holdings include STRATEGY INC [[stock:MSTR 0.875 03/15/31]] at $11.97M and EQUINOX GOLD CORP [[stock:EQXCN 4.75 10/15/28]] at $11.79M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464288513 | HYG | ISHARES TR | $40.3M | 28.7% | 500,000 | PUT | SOLE |
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $37.3M | 26.6% | 24,000,000 | Common | SOLE |
| 464288513 | HYG | ISHARES TR | $18.9M | 13.5% | 235,000 | Common | SOLE |
| 594972AL5 | MSTR 0.875 03/15/31 | STRATEGY INC | $12.0M | 8.52% | 11,600,000 | Common | SOLE |
| 29446YAC0 | EQXCN 4.75 10/15/28 | EQUINOX GOLD CORP | $11.8M | 8.39% | 5,000,000 | Common | SOLE |
| 594972AS0 | MSTR 0 12/01/29 | STRATEGY INC | $9.0M | 6.44% | 11,000,000 | Common | SOLE |
| 565788AD8 | MARA 2.125 09/01/31 | MARA HOLDINGS INC | $8.2M | 5.84% | 10,000,000 | Common | SOLE |
| 594972AQ4 | MSTR 0.625 09/15/28 | STRATEGY INC | $2.9M | 2.09% | 2,500,000 | Common | 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.