Teramo Advisors, LLC Hedge Fund

CIK: 0001904821 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 6, 2026

Total Value ($000): $388,338 (100.0% shares, 0.0% debt)

Holdings (11)

New Positions (1)

CRM SALESFORCE INC 0.1%

Value ($000) $208 Shares 786 Est. Cost $248.17 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CRM	SALESFORCE INC	786	$208	0.1%	$248.17	0.0%	COM	79466L302

Increased Positions (3)

IVV ISHARES TR 37.1%

Value ($000) $144,180 (+43.1%) Shares 210,500 (+39.9%) Est. Cost $645.88 Unrealized —

SPY SPDR S&P 500 ETF TR 13.5%

Value ($000) $52,607 (-41.5%) Shares 150,000 (+11.1%) Est. Cost $503.08 Unrealized —

SPY SPDR S&P 500 ETF TR 48.3%

Value ($000) $187,528 (+12.6%) Shares 275,000 (+10.0%) Est. Cost $503.08 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	210,500 (+39.9%)	$144,180 (+43.1%)	37.1%	$645.88	—	CORE S&P500 ETF	464287200
SPY	SPDR S&P 500 ETF TR	150,000 (+11.1%)	$52,607 (-41.5%)	13.5%	$503.08	—	PUT	78462F103
SPY	SPDR S&P 500 ETF TR	275,000 (+10.0%)	$187,528 (+12.6%)	48.3%	$503.08	—	TR UNIT	78462F103

Exited Positions (4)

RSP INVESCO EXCHANGE TRADED FD T 1.3%

Value ($000) $4,989 Shares 26,300 Est. Cost $189.70 Unrealized —

CNP CENTERPOINT ENERGY INC 0.1%

Value ($000) $222 Shares 5,710 Est. Cost $32.83 Unrealized +18.4%

EFX EQUIFAX INC 0.1%

Value ($000) $204 Shares 794 Est. Cost $252.97 Unrealized -13.6%

BSX BOSTON SCIENTIFIC CORP 0.1%

Value ($000) $200 Shares 2,050 Est. Cost $100.70 Unrealized -2.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RSP	INVESCO EXCHANGE TRADED FD T	26,300	$4,989	1.3%	$189.70	—	—	46137V357
CNP	CENTERPOINT ENERGY INC	5,710	$222	0.1%	$32.83	+18.4%	—	15189T107
EFX	EQUIFAX INC	794	$204	0.1%	$252.97	-13.6%	—	294429105
BSX	BOSTON SCIENTIFIC CORP	2,050	$200	0.1%	$100.70	-2.6%	—	101137107

Decreased Positions (1)

OPER ETF SER SOLUTIONS 0.5%

Value ($000) $2,001 (-33.3%) Shares 20,000 (-33.3%) Est. Cost $100.13 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OPER	ETF SER SOLUTIONS	20,000 (-33.3%)	$2,001 (-33.3%)	0.5%	$100.13	—	CLEARSHS ULTRA	26922A453

Unchanged Positions (6)

GOOGL ALPHABET INC 0.2%

Value ($000) $695 Shares 2,220 Est. Cost $180.70 Unrealized +58.1%

AAPL APPLE INC 0.1%

Value ($000) $263 Shares 967 Est. Cost $225.58 Unrealized +19.0%

SPGI S&P GLOBAL INC 0.1%

Value ($000) $216 Shares 414 Est. Cost $507.58 Unrealized -2.6%

V VISA INC 0.1%

Value ($000) $207 Shares 591 Est. Cost $336.32 Unrealized +1.2%

FE FIRSTENERGY CORP 0.1%

Value ($000) $215 Shares 4,800 Est. Cost $42.11 Unrealized +8.6%

PM PHILIP MORRIS INTL INC 0.1%

Value ($000) $218 Shares 1,360 Est. Cost $136.99 Unrealized +12.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	2,220	$695	0.2%	$180.70	+58.1%	CAP STK CL A	02079K305
AAPL	APPLE INC	967	$263	0.1%	$225.58	+19.0%	COM	037833100
SPGI	S&P GLOBAL INC	414	$216	0.1%	$507.58	-2.6%	COM	78409V104
V	VISA INC	591	$207	0.1%	$336.32	+1.2%	COM CL A	92826C839
FE	FIRSTENERGY CORP	4,800	$215	0.1%	$42.11	+8.6%	COM	337932107
PM	PHILIP MORRIS INTL INC	1,360	$218	0.1%	$136.99	+12.1%	COM	718172109