Isabella Capital Management LLP

Portfolio Overview

Isabella Capital Management LLP disclosed 8 positions worth $188.3M in its Form 13F-HR for Q2 2026 — $148.4M in common stock plus $40.0M of put/call option positions (reported at underlying notional value, not premium at risk), led by $BABA (Alibaba Group Holding Ltd) at 56.5% of the equity portfolio. During the quarter the fund opened 4 new positions and exited 5 — including a new stake in $WB and a full exit from $MSTR. The portfolio is most concentrated in Industrials (56.5% of disclosed assets). All figures are sourced directly from Isabella Capital Management LLP’s Form 13F-HR filing with the SEC under CIK 2134988.

• 

  Alibaba Group Holding Ltd

  $BABA

  —

  Quality

  $83.9M71,000,000 sh

• ISHARES TR - IBOXX HI YD ETF PUT

  —

  Quality

  $40.0M500,000 sh
• 

  MARA Holdings, Inc.

  $MARA

  36.1#2,231

  Quality

  $28.0M25,000,000 sh

• ISHARES TR - IBOXX HI YD ETF

  —

  Quality

  $15.6M195,000 sh
• 

  WEIBO Corp

  $WB

  —

  Quality

  $15.0M15,000,000 sh
• 

  Super Micro Computer, Inc.

  $SMCI

  61.8

  Quality

  $4.9M5,500,000 sh
• 

  Alphabet Inc.

  $GOOG

  78.1

  Quality

  $505.6K10,000 sh

• ALPHABET INC - DEP SHS RP1/20 B

  —

  Quality

  $500.8K10,000 sh

Company	Quality	Value	Shares
Alibaba Group Holding Ltd$BABA	—	$83.9M	71,000,000
ISHARES TR - IBOXX HI YD ETF PUT	—	$40.0M	500,000
MARA Holdings, Inc.$MARA	36.1#2,231	$28.0M	25,000,000
ISHARES TR - IBOXX HI YD ETF	—	$15.6M	195,000
WEIBO Corp$WB	—	$15.0M	15,000,000
Super Micro Computer, Inc.$SMCI	61.8	$4.9M	5,500,000
Alphabet Inc.$GOOG	78.1	$505.6K	10,000
ALPHABET INC - DEP SHS RP1/20 B	—	$500.8K	10,000

Showing top 8 of 8 holdings.

Full Holdings — Isabella Capital Management LLP (Q2 2026)

All 8 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$BABA	Alibaba Group Holding Ltd	$83.9M	56.5%	+158%	—
2	—	ISHARES TR - IBOXX HI YD ETF	$40.0M	—	+0%	—
3	$MARA	MARA Holdings, Inc.	$28.0M	18.9%	+85%	36.1
4	—	ISHARES TR - IBOXX HI YD ETF	$15.6M	10.5%	+11%	—
5	$WB	WEIBO Corp	$15.0M	10.1%	NEW	—
6	$SMCI	Super Micro Computer, Inc.	$4.9M	3.3%	NEW	61.8
7	$GOOG	Alphabet Inc.	$505,640	0.3%	NEW	78.1
8	—	ALPHABET INC - DEP SHS RP1/20 B	$500,847	0.3%	NEW	—