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Skaana Management Portfolio holdings

AUM $296M
1-Year Est. Return 65.1%
This Fund
S&P 500
This Quarter Est. Return
-8.57%
1 Year Est. Return
+65.1%
3 Year Est. Return
+167.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$309M
AUM Growth
-$49.8M
Cap. Flow
-$51.8M
Cap. Flow %
-16.75%
Top 10 Hldgs %
52.36%
Holding
211
New
30
Increased
20
Reduced
29
Closed
30

Top Buys

Rank Stock Value
1
CORZW icon
Core Scientific Inc Tranche 1 Warrants
CORZW
+$17.3M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$4.73M
3
BA.PRA
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
+$1.99M
4
ALB.PRA icon
Albemarle Corp Depositary Shares
ALB.PRA
+$569K
5
NVAX icon
Novavax
NVAX
+$515K

Top Sells

Rank Stock Value
1
EPR.PRC icon
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
+$12.7M
2
EOSE icon
Eos Energy Enterprises
EOSE
+$5.54M
3
BBAI icon
BigBear.ai
BBAI
+$4.34M
4
APO.PRA
Apollo Global Management Series A
APO.PRA
+$3.63M
5
IREN icon
Iris Energy
IREN
+$2.19M

Sector Composition

Rank Sector Weight
1 Technology 0.81%
2 Consumer Discretionary 0.6%
3 Industrials 0.17%
4 Healthcare 0.15%
5 Consumer Staples 0.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IREN icon
126
Iris Energy
IREN
$14.6B
– –
-42,500
Closed -$2.19M
LCID icon
127
CALL
Lucid Motors
LCID
$3.04B
– –
-95,900
Closed -$2.28M
NNAVW
128
DELISTED
NextNav Inc Warrant
NNAVW
– –
-83,054
Closed -$449K
OPEN icon
129
Opendoor
OPEN
$3.97B
– –
-10,333
Closed -$74K
PGY icon
130
Pagaya Technologies
PGY
$1.83B
– –
-8,692
Closed -$221K
RGTIW icon
131
Rigetti Computing Warrants
RGTIW
$164M
– –
-21,932
Closed -$402K
SE icon
132
CALL
Sea Limited
SE
$68.3B
– –
-1,400
Closed -$250K
SMR icon
133
CALL
NuScale Power
SMR
$3.28B
– –
-6,300
Closed -$227K
SMR icon
134
PUT
NuScale Power
SMR
$3.28B
– –
-6,600
Closed -$238K
SPR
135
CALL
DELISTED
Spirit AeroSystems
SPR
– –
-3,600
Closed -$139K
UKOMW
136
DELISTED
Ucommune International Ltd Warrant
UKOMW
– –
-48,592
Closed -$335
UPST icon
137
CALL
Upstart Holdings
UPST
$2.9B
– –
-10,000
Closed -$508K
WULF icon
138
TeraWulf
WULF
$9.36B
– –
-10,000
Closed -$134K
BTSGU icon
139
BrightSpring Health Services Unit
BTSGU
$1.66B
– –
-10,573
Closed -$1.07M
BTSG icon
140
PUT
BrightSpring Health Services
BTSG
$12.4B
– –
-1,500
Closed -$44.3K
USARW
141
DELISTED
USA Rare Earth Inc Warrant
USARW
– –
-9,951
Closed -$71.8K
LEV.WS.A
142
DELISTED
The Lion Electric Company Warrants to purchase common shares
LEV.WS.A
$0 ﹤0.01%
240,426
– –
ASCBR
143
DELISTED
A SPAC II Acquisition Corp. Right
ASCBR
$0 ﹤0.01%
25,319
– –
SLNAW
144
DELISTED
Selina Hospitality PLC Warrant
SLNAW
$0 ﹤0.01%
100
– –
SHPWW
145
DELISTED
Shapeways Holdings, Inc. Warrants
SHPWW
$0 ﹤0.01%
155,696
– –
CSSEL
146
DELISTED
Chicken Soup for the Soul Entertainment, Inc. Warrant
CSSEL
$0 ﹤0.01%
156,418
– –
FAZEW
147
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$0 ﹤0.01%
242,802
– –
AGILW
148
DELISTED
AgileThought Inc Warrant
AGILW
$0 ﹤0.01%
46,807
– –
ZEV.WS
149
DELISTED
Lightning eMotors, Inc. Redeemable Warrants, each whole warrant exercisable 1/20th of a share of common stock at an exercise price of $230.00 per whole share
ZEV.WS
$0 ﹤0.01%
392,968
– –
GRNAW
150
DELISTED
GreenLight Biosciences Holdings, PBC Warrant
GRNAW
$0 ﹤0.01%
5,000
– –
3 4 5
6
7

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CA
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XSC
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TOTUOP
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CIC
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RWPA
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Skaana Management's Q4 2025 Portfolio in Review

As of Q4 2025, Skaana Management held 211 positions worth $309M, down 14% from $359M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Skaana Management withdrew a net $51.8M in Q4 2025, closing 30 positions and reducing 29 holdings. Its most notable exit was Iris Energy, an estimated $2.19M position sold in full.

By sector, the portfolio is most concentrated in Technology at 0.81% of assets, down from 2.5% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Skaana Management opened a new position in State Street SPDR S&P 500 ETF Trust worth $4.77M.

  • Skaana Management's largest Q4 2025 buy was State Street SPDR S&P 500 ETF Trust: 7,000 shares worth $4.77M.
  • Skaana Management added most to Core Scientific Inc Tranche 1 Warrants in Q4 2025, an estimated $17.3M increase.
  • Skaana Management's biggest Q4 2025 reduction was EPR Properties 5.75% Series C Preferred Shares, cutting an estimated $12.7M.
  • Skaana Management fully exited Iris Energy in Q4 2025, selling an estimated $2.19M.
  • Skaana Management's ten largest holdings make up 52% of its $309M portfolio in Q4 2025.
  • Skaana Management opened 30 new positions and closed 30 in Q4 2025.
  • Skaana Management's portfolio value fell 14% quarter-over-quarter to $309M.

Based on Skaana Management's 13F filing for Q4 2025, filed 10 Feb 2026.