Compass Rose Asset Management, LP Hedge Fund

CIK: 0001758811 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 11, 2026

Total Value ($000): $1,228,881 (87.6% shares, 12.4% debt)

Holdings (25)

New Positions (14)

— ISHARES TR 13.1%

Value ($000) $161,260 Shares 2,000,000 Est. Cost — Unrealized —

CMCSA COMCAST CORP NEW 5.7%

Value ($000) $70,000 Shares 2,500,000 Est. Cost $28.53 Unrealized 0.0%

NFLX NETFLIX INC 3.8%

Value ($000) $46,880 Shares 500,000 Est. Cost — Unrealized —

— SPDR SERIES TRUST 2.8%

Value ($000) $34,050 Shares 1,000,000 Est. Cost — Unrealized —

KMB KIMBERLY-CLARK CORP 2.5%

Value ($000) $30,267 Shares 300,000 Est. Cost $108.41 Unrealized 0.0%

KMB KIMBERLY-CLARK CORP 1.6%

Value ($000) $19,774 Shares 196,000 Est. Cost $108.41 Unrealized 0.0%

KWEB KRANESHARES TRUST 1.5%

Value ($000) $18,728 Shares 550,000 Est. Cost $34.05 Unrealized —

CMCSA COMCAST CORP NEW 1.3%

Value ($000) $15,393 Shares 515,000 Est. Cost $28.53 Unrealized 0.0%

UPS UNITED PARCEL SERVICE INC 0.8%

Value ($000) $10,316 Shares 104,000 Est. Cost $92.75 Unrealized 0.0%

AERO GRUPO AEROMEXICO SAB DE CV 0.7%

Value ($000) $8,021 Shares 365,269 Est. Cost $21.96 Unrealized —

BMA BANCO MACRO SA 0.5%

Value ($000) $6,437 Shares 71,390 Est. Cost $90.16 Unrealized —

AIG AMERICAN INTL GROUP INC 0.4%

Value ($000) $5,219 Shares 61,000 Est. Cost $79.68 Unrealized 0.0%

KREF KKR REAL ESTATE FIN TR INC 0.2%

Value ($000) $2,754 Shares 335,000 Est. Cost $8.22 Unrealized —

— BOEING CO 0.1%

Value ($000) $1,562 Shares 22,624 Est. Cost $69.06 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES TR	2,000,000	$161,260	13.1%	—	—	PUT	464288953
CMCSA	COMCAST CORP NEW	2,500,000	$70,000	5.7%	$28.53	0.0%	CALL	20030N101
NFLX	NETFLIX INC	500,000	$46,880	3.8%	—	—	CALL	64110L106
—	SPDR SERIES TRUST	1,000,000	$34,050	2.8%	—	—	CALL	500767906
KMB	KIMBERLY-CLARK CORP	300,000	$30,267	2.5%	$108.41	0.0%	CALL	494368103
KMB	KIMBERLY-CLARK CORP	196,000	$19,774	1.6%	$108.41	0.0%	COM	494368103
KWEB	KRANESHARES TRUST	550,000	$18,728	1.5%	$34.05	—	CSI CHI INTERNET	500767306
CMCSA	COMCAST CORP NEW	515,000	$15,393	1.3%	$28.53	0.0%	CL A	20030N101
UPS	UNITED PARCEL SERVICE INC	104,000	$10,316	0.8%	$92.75	0.0%	CL B	911312106
AERO	GRUPO AEROMEXICO SAB DE CV	365,269	$8,021	0.7%	$21.96	—	SPONSORED ADS	40054J109
BMA	BANCO MACRO SA	71,390	$6,437	0.5%	$90.16	—	SPON ADR B	05961W105
AIG	AMERICAN INTL GROUP INC	61,000	$5,219	0.4%	$79.68	0.0%	COM NEW	026874784
KREF	KKR REAL ESTATE FIN TR INC	335,000	$2,754	0.2%	$8.22	—	COM	48251K100
—	BOEING CO	22,624	$1,562	0.1%	$69.06	—	DEP CONV PFD A	097023204

Increased Positions (4)

SPY SPDR S&P 500 ETF TR 42.2%

Value ($000) $518,259 (+1335.3%) Shares 760,000 (+1302.2%) Est. Cost — Unrealized —

KVUE KENVUE INC 2.4%

Value ($000) $29,239 (+543.4%) Shares 1,695,000 (+505.4%) Est. Cost $16.89 Unrealized -3.7%

KVUE KENVUE INC 2.8%

Value ($000) $34,500 (+21.5%) Shares 2,000,000 (+14.3%) Est. Cost $16.89 Unrealized -3.7%

SUZ SUZANO S A 1.2%

Value ($000) $14,944 (+50.7%) Shares 1,600,000 (+51.7%) Est. Cost $9.38 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	760,000 (+1302.2%)	$518,259 (+1335.3%)	42.2%	—	—	CALL	78462F103
KVUE	KENVUE INC	1,695,000 (+505.4%)	$29,239 (+543.4%)	2.4%	$16.89	-3.7%	COM	49177J102
KVUE	KENVUE INC	2,000,000 (+14.3%)	$34,500 (+21.5%)	2.8%	$16.89	-3.7%	CALL	49177J102
SUZ	SUZANO S A	1,600,000 (+51.7%)	$14,944 (+50.7%)	1.2%	$9.38	—	SPON ADS	86959K105

Exited Positions (8)

KRE SPDR SERIES TRUST 14.4%

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

EWZ ISHARES INC 1.9%

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

KRE SPDR SERIES TRUST 1.5%

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

WBD WARNER BROS DISCOVERY INC 0.9%

Value ($000) $10,742 Shares 550,000 Est. Cost $13.62 Unrealized +71.6%

RDN RADIAN GROUP INC 0.8%

Value ($000) $9,961 Shares 275,000 Est. Cost $34.42 Unrealized +1.0%

LION LIONSGATE STUDIOS CORP 0.3%

Value ($000) $3,450 Shares 500,000 Est. Cost $6.43 Unrealized +10.6%

BHC BAUSCH HEALTH COS INC 0.1%

Value ($000) $1,613 Shares 250,000 Est. Cost $7.89 Unrealized -16.6%

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	14.4%	$63.30	—	CALL	78464A698
EWZ	ISHARES INC	750,000	$23,250	1.9%	—	—	PUT	464286400
KRE	SPDR SERIES TRUST	298,000	$18,863	1.5%	$63.30	—	—	78464A698
WBD	WARNER BROS DISCOVERY INC	550,000	$10,742	0.9%	$13.62	+71.6%	—	934423104
RDN	RADIAN GROUP INC	275,000	$9,961	0.8%	$34.42	+1.0%	—	750236101
LION	LIONSGATE STUDIOS CORP	500,000	$3,450	0.3%	$6.43	+10.6%	—	53626N102
BHC	BAUSCH HEALTH COS INC	250,000	$1,613	0.1%	$7.89	-16.6%	—	071734107
VBNK	VERSABANK NEW	59,000	$720	0.1%	$12.21	—	—	92512J106

Decreased Positions (4)

WBD WARNER BROS DISCOVERY INC 1.9%

Value ($000) $23,338 (-67.5%) Shares 809,800 (-78.0%) Est. Cost $13.62 Unrealized +71.6%

KHC KRAFT HEINZ CO 0.8%

Value ($000) $9,700 (-58.6%) Shares 400,000 (-55.6%) Est. Cost $26.49 Unrealized -7.0%

OPTU OPTIMUM COMMUNICATIONS INC 0.1%

Value ($000) $825 (-86.3%) Shares 500,000 (-80.0%) Est. Cost $2.27 Unrealized -10.5%

BLCO BAUSCH PLUS LOMB CORP 1.3%

Value ($000) $15,372 (+2.0%) Shares 900,000 (-10.0%) Est. Cost $16.07 Unrealized -1.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WBD	WARNER BROS DISCOVERY INC	809,800 (-78.0%)	$23,338 (-67.5%)	1.9%	$13.62	+71.6%	CALL	934423104
KHC	KRAFT HEINZ CO	400,000 (-55.6%)	$9,700 (-58.6%)	0.8%	$26.49	-7.0%	COM	500754106
OPTU	OPTIMUM COMMUNICATIONS INC	500,000 (-80.0%)	$825 (-86.3%)	0.1%	$2.27	-10.5%	CL A	02156K103
BLCO	BAUSCH PLUS LOMB CORP	900,000 (-10.0%)	$15,372 (+2.0%)	1.3%	$16.07	-1.3%	COMMON SHARES	071705107

Unchanged Positions (3)

— JD.COM INC 6.2%

Value ($000) $75,868 Shares 75,000,000 Est. Cost $1.05 Unrealized —

— PG&E CORP 4.2%

Value ($000) $51,250 Shares 50,000,000 Est. Cost $1.04 Unrealized —

— AMERICAN WTR CAP CORP 2.0%

Value ($000) $24,925 Shares 25,000,000 Est. Cost $1.02 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	JD.COM INC	75,000,000	$75,868	6.2%	$1.05	—	NOTE 0.250% 6/0	47215PAJ5
—	PG&E CORP	50,000,000	$51,250	4.2%	$1.04	—	NOTE 4.250%12/0	69331CAL2
—	AMERICAN WTR CAP CORP	25,000,000	$24,925	2.0%	$1.02	—	NOTE 3.625% 6/1	03040WBE4