Teramo Advisors, LLC

Q3 2025 13F-HR Holdings

Location
Naples, FL
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
14
Total value ($000)
$367,454
Net value change ($000)
+15,865 (4.5%)
New positions
3
Sold out positions
12
Turnover %
5.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/6/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
IVV 35,535 54.5%
RSP 4,989 NEW
AAPL 246 NEW
FE 220 NEW
GOOGL 149 38.1%
CNP 12 5.7%
Top Reduces (Value $000, Stocks/ETFs)
SPY -28,078 -14.4%
RYN -3,897 -100.0%
PL -3,054 -100.0%
META -443 -100.0%
AMZN -391 -100.0%
AVGO -320 -100.0%
XOM -302 -100.0%
NOW -268 -100.0%
NFLX -257 -100.0%
WMT -251 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 89,934 (24.5% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type