05 / 14 · The rise
The Hedge Switch
Put options as a share of the book, quarter by quarter: zero, to 62%, to zero, the quarter before the fund blew up.
From the article Situational Awareness: The $45 Billion Blowup →
Tap to enlarge SourceSEC Form 13F · CIK 0002045724 · seven filings, Q4 2024 – Q2 2026 (filed Aug 14, 2026).