Comparing Q3 and Q4 2022: Boothbay Fund Management, LLC's Top Holdings

Boothbay Fund Management, LLC is a hedge fund and alternative asset management firm with a focus on providing clients with high-quality, risk-adjusted returns. Like many hedge funds, Boothbay discloses its top holdings via quarterly filings with the SEC. In this post, we'll be examining the changes in the firm's holdings between Q3 and Q4 of 2022.

SPDR S&P 500 ETF TR Leads the Way

One of the standout holdings for Boothbay in Q4 was the SPDR S&P 500 ETF TR. According to the 13F filings, the firm increased its call holdings from 260,100 shares in Q3 to 296,000 shares in Q4 – a 21.8% increase. The value of these holdings also increased from $92,903,000 to $113,199,000, representing a 21.8% increase. The firm also held put options on the same ETF, which saw a decrease in holdings from 205,200 shares in Q3 to 141,800 shares in Q4, representing a 26% decrease in holdings.

In addition to these options, Boothbay also substantially increased its direct holdings in SPY from 119,883 shares in Q3 to 140,951 shares in Q4, which is a 25.9% increase in holdings. The value of Boothbay's direct holdings in SPY also increased in Q4, from $42,820,000 in Q3 to $53,903,000 in Q4.

High Turnover and New Additions

In between Q3 and Q4, Boothbay made a number of other significant changes to its portfolio. The firm reduced its holdings in SPDR Gold TR call options to 0 shares, and at the same time, the firm increased its holdings in Invetsco QQQ TR put options from 0 shares in Q3 to 180,600 shares in Q4, representing a significant addition to the firm's portfolio of options. This increase in options in Invetsco QQQ TR resulted in the firm's total Q4 value of holdings reaching $22,648,000 from $14,377,000 in Q3.

The firm also added new positions during the quarter, such as 1,029,898 shares of RMG Acquisition Corp. III, valued at $20,462,000. Additionally, the firm doubled its holdings in AXIOS Sustainable Grw Acq Co from 1.1M shares in Q3 to 2.2M shares in Q4, indicating a bullish outlook on the company.

Conclusion

Overall, Boothbay Fund Management's Q4 13F filings reveal a portfolio with a relatively high turnover rate and a few notable holdings that saw significant gains throughout the quarter. The shift into call options in SPDR S&P 500 ETF TR and put options in Invetsco QQQ TR demonstrates a market outlook strategy that is likely to capitalize on the US's growing economic health. It remains to be seen whether Boothbay Fund Management, LLC will continue to hold the same positions or make significant changes in future filings.