SONA ASSET MANAGEMENT (US) LLC Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$4.1T

Holdings

142

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (142 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	BABA 0.5 06/01/31ALIBABA GROUP HLDG LTD	151,801,000	$279.0B	6.80%
2	TLTISHARES TR	3,090,000	$276.2B	6.73%	Put
3	LQDISHARES TR	2,396,206	$267.1B	6.51%	Put
4	HYGISHARES TR	2,802,124	$227.5B	5.55%	Put
5	GQ9SPDR GOLD TR	550,000	$195.5B	4.77%	Put
6	APO 6.75 07/31/26APOLLO GLOBAL MGMT INC	2,100,000	$147.8B	3.61%
7	EMBISHARES TR	1,469,000	$139.8B	3.41%
8	UBER 0 12/15/25UBER TECHNOLOGIES INC	113,615,000	$138.6B	3.38%
9	F 0 03/15/26FORD MTR CO	131,000,000	$133.0B	3.24%
10	ARKKARK ETF TR	1,410,000	$121.7B	2.97%	Put
11	TXNMTXNM ENERGY INC	1,663,830	$94.1B	2.29%
12	JAZZ 2 06/15/26JAZZ INVESTMENTS I LTD	83,300,000	$88.5B	2.16%
13	TCOM 0.75 06/15/29TRIP COM GROUP LTD	65,000,000	$83.1B	2.03%
14	ETSY 0.125 10/01/26ETSY INC	77,722,000	$81.2B	1.98%
15	ON 0.5 03/01/29ON SEMICONDUCTOR CORP	83,575,000	$77.4B	1.89%
16	MTUMISHARES TR	300,000	$76.9B	1.88%	Put
17	IGSBISHARES TR	1,135,000	$60.2B	1.47%
18	COIN 0.5 06/01/26COINBASE GLOBAL INC	52,500,000	$58.3B	1.42%
19	HPE 7.625 09/01/27HEWLETT PACKARD ENTERPRISE C	850,000	$57.9B	1.41%
20	ABNB 0 03/15/26AIRBNB INC	58,250,000	$57.0B	1.39%
21	NSCNORFOLK SOUTHN CORP	189,280	$56.9B	1.39%
22	FOUR 0 12/15/25SHIFT4 PMTS INC	51,000,000	$52.5B	1.28%
23	SHOPCN 0.125 11/01/25SHOPIFY INC	49,404,000	$52.0B	1.27%
24	COIN 0.25 04/01/30COINBASE GLOBAL INC	40,000,000	$50.3B	1.23%
25	EWZISHARES INC	1,600,000	$49.6B	1.21%	Call
26	EWYISHARES INC	574,000	$46.0B	1.12%	Call
27	BTDRBITDEER TECHNOLOGIES GROUP	2,574,003	$44.0B	1.07%	Call
28	MUMICRON TECHNOLOGY INC	250,000	$41.8B	1.02%	Call
29	GTLSCHART INDS INC	208,634	$41.8B	1.02%
30	DXCM 0.375 05/15/28DEXCOM INC	44,500,000	$40.6B	0.99%
31	MCHP 0.75 06/01/30MICROCHIP TECHNOLOGY INC.	40,500,000	$39.3B	0.96%
32	AKAM 1.125 02/15/29AKAMAI TECHNOLOGIES INC	41,162,000	$38.7B	0.94%
33	KWEBKRANESHARES TRUST	909,000	$38.2B	0.93%	Call
34	EAELECTRONIC ARTS INC	185,440	$37.4B	0.91%
35	EEMISHARES TR	652,100	$34.8B	0.85%	Call
36	HTHT 3 05/01/26H WORLD GROUP LTD	30,000,000	$33.5B	0.82%
37	BBIO 2.25 02/01/29BRIDGEBIO PHARMA INC	31,230,000	$30.9B	0.75%
38	BTU 3.25 03/01/28PEABODY ENGR CORP	18,750,000	$28.2B	0.69%
39	NDQINVESCO QQQ TR	45,000	$27.0B	0.66%	Put
40	KYIVKYIVSTAR GROUP LTD	2,137,889	$26.7B	0.65%
41	TYL 0.25 03/15/26TYLER TEX INDPT SCH DIST	22,000,000	$24.2B	0.59%
42	MIGASTRATEGY INC	75,000	$24.2B	0.59%	Put
43	ALB 7.25 03/01/27ALBEMARLE CORP	600,000	$23.0B	0.56%
44	DKNG 0 03/15/28DRAFTKINGS INC NEW	25,400,000	$22.9B	0.56%
45	DBX 0 03/01/28DROPBOX INC	21,500,000	$22.2B	0.54%
46	FXIISHARES TR	500,000	$20.6B	0.50%	Call
47	REAL 4 02/15/31THE REALREAL INC	15,097,000	$19.5B	0.48%
48	NVDANVIDIA CORPORATION	100,000	$18.7B	0.45%	Put
49	BORRBORR DRILLING LTD	6,386,470	$17.2B	0.42%
50	CYBRCYBERARK SOFTWARE LTD	33,376	$16.1B	0.39%
51	SATSECHOSTAR CORP	185,000	$14.1B	0.34%	Call
52	DCHAMERICAN AXLE & MFG HLDGS IN	2,319,328	$13.9B	0.34%	Call
53	DBX 0 03/01/26DROPBOX INC	14,000,000	$13.9B	0.34%
54	EXAS 0.375 03/15/27EXACT SCIENCES CORP	13,250,000	$12.7B	0.31%
55	W 1 08/15/26WAYFAIR INC	12,500,000	$12.3B	0.30%
56	IHSIHS HOLDING LIMITED	1,802,674	$12.3B	0.30%
57	GEGGEO GROUP INC NEW	550,000	$11.3B	0.27%	Call
58	UNHUNITEDHEALTH GROUP INC	32,500	$11.2B	0.27%
59	TSLATESLA INC	25,000	$11.1B	0.27%	Call
60	CCOCAMECO CORP	132,500	$11.1B	0.27%
61	XHBSPDR SERIES TRUST	100,000	$11.1B	0.27%	Call
62	UNIT 7.5 12/01/27UNITI GROUP LLC	9,500,000	$10.4B	0.25%
63	NEE 7.299 06/01/27NEXTERA ENERGY INC	200,000	$10.0B	0.24%
64	CCCHEMOURS CO	596,275	$9.4B	0.23%
65	CELC 2.75 08/01/31CELCUITY INC	7,000,000	$9.3B	0.23%
66	EXAS 0.375 03/01/28EXACT SCIENCES CORP	9,750,000	$9.1B	0.22%
67	TECK/BTECK RESOURCES LTD	200,000	$8.8B	0.21%	Call
68	BABAALIBABA GROUP HLDG LTD	47,186	$8.4B	0.21%
69	KK0NEXTNAV INC	575,128	$8.2B	0.20%
70	VVISA INC	22,200	$7.6B	0.18%	Put
71	URAGLOBAL X FDS	150,000	$7.2B	0.17%
72	UNITUNITI GROUP LLC	1,136,000	$7.0B	0.17%
73	TERTERADYNE INC	50,000	$6.9B	0.17%
74	BLCOBAUSCH PLUS LOMB CORP	455,332	$6.9B	0.17%
75	IBITISHARES BITCOIN TRUST ETF	100,000	$6.5B	0.16%	Call
76	VSH 2.25 09/15/30VISHAY INTERTECHNOLOGY INC	7,000,000	$6.4B	0.16%
77	OPTUALTICE USA INC	2,600,000	$6.3B	0.15%
78	KVUEKENVUE INC	350,000	$5.7B	0.14%	Call
79	CORZCORE SCIENTIFIC INC NEW	300,000	$5.4B	0.13%	Call
80	GFRGREENFIRE RES LTD NEW	1,157,749	$5.3B	0.13%
81	ASHRDBX ETF TR	157,000	$5.2B	0.13%
82	FYBRFRONTIER COMMUNICATIONS PARE	136,623	$5.1B	0.12%
83	EWWISHARES INC	74,000	$5.0B	0.12%
84	CIFRCIPHER MINING INC	400,000	$5.0B	0.12%	Call
85	EWJISHARES INC	61,500	$4.9B	0.12%
86	WBDWARNER BROS DISCOVERY INC	250,000	$4.9B	0.12%	Put
87	FQIDIGITAL RLTY TR INC	27,200	$4.7B	0.11%
88	VISNCOMMSCOPE HLDG CO INC	300,000	$4.6B	0.11%
89	GLNGGOLAR LNG LTD	100,000	$4.0B	0.10%	Put
90	DUOLDUOLINGO INC	12,500	$4.0B	0.10%	Put
91	ASMLASML HOLDING N V	4,000	$3.9B	0.09%
92	DLTRDOLLAR TREE INC	40,000	$3.8B	0.09%
93	BKLNINVESCO EXCH TRADED FD TR II	167,224	$3.5B	0.09%
94	CHTRCHARTER COMMUNICATIONS INC N	12,500	$3.4B	0.08%
95	HTZHERTZ GLOBAL HLDGS INC	500,000	$3.4B	0.08%
96	CZRCAESARS ENTERTAINMENT INC NE	125,000	$3.4B	0.08%
97	INTCINTEL CORP	100,000	$3.4B	0.08%	Call
98	EQTEQT CORP	60,000	$3.3B	0.08%
99	LTHLIFE TIME GROUP HOLDINGS INC	115,000	$3.2B	0.08%
100	LITELUMENTUM HLDGS INC	19,000	$3.1B	0.08%

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