Compass Rose Asset Management, LP Hedge Fund

CIK: 0001758811 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value ($000): $598,043 (73.7% shares, 26.3% debt)

Holdings (19)

KRE SPDR SERIES TRUST 29.6%

Value ($000) $177,170 Shares 2,800,000 Est. Cost $63.30 Unrealized —

— JD.COM INC 13.6%

Value ($000) $81,188 Shares 75,000,000 Est. Cost $1.05 Unrealized —

WBD WARNER BROS DISCOVERY INC 12.0%

Value ($000) $71,773 Shares 3,675,000 Est. Cost $13.62 Unrealized 0.0%

— PG&E CORP 8.5%

Value ($000) $50,750 Shares 50,000,000 Est. Cost $1.04 Unrealized —

SPY SPDR S&P 500 ETF TR 6.0%

Value ($000) $36,107 Shares 54,200 Est. Cost — Unrealized —

KVUE KENVUE INC 4.7%

Value ($000) $28,403 Shares 1,750,000 Est. Cost $20.06 Unrealized 0.0%

— AMERICAN WTR CAP CORP 4.2%

Value ($000) $25,063 Shares 25,000,000 Est. Cost $1.02 Unrealized —

KHC KRAFT HEINZ CO 3.9%

Value ($000) $23,436 Shares 900,000 Est. Cost $26.49 Unrealized 0.0%

EWZ ISHARES INC 3.9%

Value ($000) $23,250 Shares 750,000 Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 3.2%

Value ($000) $18,863 Shares 298,000 Est. Cost $63.30 Unrealized —

BLCO BAUSCH PLUS LOMB CORP 2.5%

Value ($000) $15,070 Shares 1,000,000 Est. Cost $16.07 Unrealized -10.3%

WBD WARNER BROS DISCOVERY INC 1.8%

Value ($000) $10,742 Shares 550,000 Est. Cost $13.62 Unrealized 0.0%

RDN RADIAN GROUP INC 1.7%

Value ($000) $9,961 Shares 275,000 Est. Cost $34.42 Unrealized 0.0%

SUZ SUZANO S A 1.7%

Value ($000) $9,917 Shares 1,055,000 Est. Cost $9.40 Unrealized —

OPTU ALTICE USA INC 1.0%

Value ($000) $6,025 Shares 2,500,000 Est. Cost $2.27 Unrealized +7.9%

KVUE KENVUE INC 0.8%

Value ($000) $4,544 Shares 280,000 Est. Cost $20.06 Unrealized 0.0%

LION LIONSGATE STUDIOS CORP 0.6%

Value ($000) $3,450 Shares 500,000 Est. Cost $6.43 Unrealized 0.0%

BHC BAUSCH HEALTH COS INC 0.3%

Value ($000) $1,613 Shares 250,000 Est. Cost $7.89 Unrealized -13.4%

VBNK VERSABANK NEW 0.1%

Value ($000) $720 Shares 59,000 Est. Cost $12.21 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KRE	SPDR SERIES TRUST	2,800,000	$177,170	29.6%	$63.30	—	Call	78464A698
—	JD.COM INC	75,000,000	$81,188	13.6%	$1.05	—	NOTE 0.250% 6/0	47215PAJ5
WBD	WARNER BROS DISCOVERY INC	3,675,000	$71,773	12.0%	$13.62	0.0%	Call	934423104
—	PG&E CORP	50,000,000	$50,750	8.5%	$1.04	—	NOTE 4.250%12/0	69331CAL2
SPY	SPDR S&P 500 ETF TR	54,200	$36,107	6.0%	—	—	Call	78462F103
KVUE	KENVUE INC	1,750,000	$28,403	4.7%	$20.06	0.0%	Call	49177J102
—	AMERICAN WTR CAP CORP	25,000,000	$25,063	4.2%	$1.02	—	NOTE 3.625% 6/1	03040WBE4
KHC	KRAFT HEINZ CO	900,000	$23,436	3.9%	$26.49	0.0%	COM	500754106
EWZ	ISHARES INC	750,000	$23,250	3.9%	—	—	Put	464286400
KRE	SPDR SERIES TRUST	298,000	$18,863	3.2%	$63.30	—	S&P REGL BKG	78464A698
BLCO	BAUSCH PLUS LOMB CORP	1,000,000	$15,070	2.5%	$16.07	-10.3%	COMMON SHARES	071705107
WBD	WARNER BROS DISCOVERY INC	550,000	$10,742	1.8%	$13.62	0.0%	COM SER A	934423104
RDN	RADIAN GROUP INC	275,000	$9,961	1.7%	$34.42	0.0%	COM	750236101
SUZ	SUZANO S A	1,055,000	$9,917	1.7%	$9.40	—	SPON ADS	86959K105
OPTU	ALTICE USA INC	2,500,000	$6,025	1.0%	$2.27	+7.9%	CL A	02156K103
KVUE	KENVUE INC	280,000	$4,544	0.8%	$20.06	0.0%	COM	49177J102
LION	LIONSGATE STUDIOS CORP	500,000	$3,450	0.6%	$6.43	0.0%	COM	53626N102
BHC	BAUSCH HEALTH COS INC	250,000	$1,613	0.3%	$7.89	-13.4%	COM	071734107
VBNK	VERSABANK NEW	59,000	$720	0.1%	$12.21	—	COM	92512J106