TAM Capital Management Inc.

STAMFORD, CT · CIK 1594591 · 13F filing filed 2025-11-14

SEC-registered investment adviser since 2022 · corporation

$83.2m reported value +24.4% vs Q2 2025

5positions

100.0%in top 10

3 new 1 added 1 reduced 2 sold out vs Q2 2025

Options: 3 call positions ($107.0m notional), 1 put positions ($11.5m notional) – listed below, not included above.

Holdings, Q3 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	THE CIGNA GROUP COM CI	CI	253,514	$76.3m91.72%	91.72%	Added +144.7k	+144,706 133.0%
2	FISERV INC COM FISV	FISV	26,200	$3.4m4.06%	4.06%	New
3	ELEVANCE HEALTH INC COM ELV	ELV	15,238	$3.1m3.73%	3.73%	New
4	MAGNERA CORP COM SHS MAGN	MAGN	34,038	$398.9k0.48%	0.48%	Reduced -64.4k	-64,418 -65.4%
5	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	3,103,456	$11.3k0.01%	0.01%	New

Security	Ticker	Shares held before	Value then
JPMORGAN CHASE & CO JPM	JPM	114,518	$29.5m114.5k shares
CRONOS GROUP INC CRON	CRON	104,877	$200.3k104.9k shares

Underlying	Ticker	Type	Shares controlled	Notional	Change
THE CIGNA GROUP CI · Call	CI	Call	338,200	$97.5m338.2k shares	Added
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	17,300	$11.5m17.3k shares	New
FISERV INC FISV · Call	FISV	Call	53,200	$6.9m53.2k shares	New
CHARTER COMMUNICATIONS INC N CHTR · Call	CHTR	Call	9,600	$2.6m9.6k shares	New