Teramo Advisors, LLC

Q4 2025 13F-HR Holdings

Location
Naples, FL
Holdings as of
12/31/2025
Date filed
2/6/2026
Form type
13F-HR
Num holdings
11
Total value ($000)
$388,338
Net value change ($000)
+20,884 (5.7%)
New positions
1
Sold out positions
4
Turnover %
1.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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 43,450 43.1%
SPY 20,983 12.6%
CRM 208 NEW
GOOGL 155 28.7%
AAPL 17 6.9%
SPGI 15 7.5%
V 5 2.5%
Top Reduces (Value $000, Stocks/ETFs)
RSP -4,989 -100.0%
OPER -1,000 -33.3%
CNP -222 -100.0%
EFX -204 -100.0%
BSX -200 -100.0%
FE -5 -2.3%
PM -3 -1.4%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 52,607 (13.5% 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