DOSSIER · 13F-HR · Q2 2026

Teramo Advisors, LLC

$529M in tracked AUM across 4 positions as of Q2 2026.

TA
CIK 0001904821 · last filed Jun 30, 2026
Total AUM
$529M
as of Q2 2026
Holdings
4
positions
Whale Score
75
75
strong
Activity
no data
changes this Q
AI Analysis · Q2 2026
Comprehensive Analysis of Teramo Advisors, LLC 13F Filing
Portfolio Overview

Teramo Advisors, LLC has undergone a substantial transformation in its portfolio composition during the quarter ending September 30, 2025. The firm executed a major consolidation strategy, reducing the total number of holdings from 24 in the previous quarter to just 8. This aggressive simplification coincided with a significant decrease in total portfolio value, which dropped by 24.4%, declining from $351.59 milli...

The portfolio is currently characterized by extreme concentration. The top holding, SPY, accounts for 96.55% of the total assets, effectively making the portfolio a proxy for the S&P 500 with minor satellite positions. This structure suggests a shift away from active stock selection toward a passive, core-satellite approach where the "core" dominates the risk and return profile almost entirely.

Key Holdings

The dominant position in the portfolio is the SPDR S&P 500 ETF Trust (SPY), with a market value of approximately $256.48 million. Despite a reduction of 385,000 shares (a 12.5% decrease in stake value), SPY remains the overwhelming driver of performance. The firm holds 385,000 shares, indicating a preference for liquid, large-cap exposure.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
IVV
ISHARES TR
$270M360K50.9%
02
SPY
STATE STR SPDR S&P 500 ETF T
$258M345K48.7%
03
OPER
ETF SER SOLUTIONS
$2M20K0.4%

Filing history

2026Q2Jun 30
$529M 11.6%
4 positionsView →
2026Q1Mar 31
$474M 22.1%
4 positionsView →
2025Q4Dec 31
$388M 46.2%
12 positionsView →
2025Q3Sep 30
$266M 24.4%
8 positionsView →
2025Q2Jun 30
$352M 46.3%
23 positionsLocked
2025Q1Mar 31
$240M 1.5%
12 positionsLocked
2024Q4Dec 31
$237M 23.1%
7 positionsLocked
2024Q3Sep 30
$308M 6.6%
7 positionsLocked
2024Q2Jun 30
$289M 12.2%
9 positionsLocked
2024Q1Mar 31
$257M 9.1%
9 positionsLocked
2023Q4Dec 31
$236M 0.6%
19 positionsLocked
2023Q3Sep 30
$237M 3.6%
16 positionsLocked
Showing 12 of 19