EQUITEC PROPRIETARY MARKETS, LLC

Key Holdings

The portfolio is dominated by two massive positions that dictate the performance of the entire fund:

1. SPDR S&P 500 ETF Trust (SPY): This is the cornerstone holding, valued at $250.49M and representing 62.70% of the portfolio. The position size increased by an astronomical 18,800,000% (an addition of ~$250.48M). This indicates a strategic pivot toward gaining immediate, liquid beta exposure to the broader U.S. equity market. It serves as a liquidity reservoir or a macro play on the S&P 500.
2. Netflix Inc. (NFLX): A new position representing 30.01% of the portfolio ($119.89M). This is a concentrated bet on a single large-cap communication services stock. The initiation of a 100,000-share position suggests strong conviction in Netflix’s fundamental outlook or valuation at the time of purchase.
3. Paramount Skydance Corp. (PSKY): Another new and significant position at 5.40% ($21.56M). This indicates an active engagement in the media/entertainment M&A space, likely betting on the success of the Skydance merger or the restructuring of the combined entity.