SALT Holding Corp.

WILMINGTON, DE · CIK 1996109 · 13F filing filed 2026-02-17

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$126.7m reported value +60.0% vs Q3 2025

19positions

94.9%in top 10

6 new 5 added 1 reduced 0 sold out vs Q3 2025

Options: 2 call positions ($2.3m notional), 0 put positions (— notional) – listed below, not included above.

This report includes the holdings of 2 other managers that share the investment decisions:

SAL Equity Trading, GP – reports through this filing
SAL Trading, LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q4 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	VODAFONE GROUP PLC NEW SPONSORED ADR VOD	VOD	3,821,000	$50.5m39.83%	39.83%	Unchanged
2	FERRARI N V COM RACE	RACE	66,772	$24.7m19.47%	19.47%	Added +24.3k	+24,272 57.1%
3	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		186,500	$17.1m13.53%	13.53%	Added +169.3k	+169,300 984.3%
4	ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR BUD	BUD	114,415	$7.3m5.78%	5.78%	Added +51.8k	+51,815 82.8%
5	NOKIA CORP SPONSORED ADR NOK	NOK	1,075,200	$7.0m5.49%	5.49%	New
6	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	95,589	$5.4m4.27%	4.27%	New
7	DIAGEO PLC SPON ADR NEW DEO	DEO	31,855	$2.7m2.17%	2.17%	Unchanged
8	STMICROELECTRONICS N V NY REGISTRY STM	STM	75,900	$2.0m1.55%	1.55%	Unchanged
9	TELEFONAKTIEBOLAGET LM ERICS ADR B SEK 10 ERIC	ERIC	200,000	$1.9m1.52%	1.52%	New
10	STELLANTIS N.V SHS STLA	STLA	150,493	$1.6m1.29%	1.29%	New
11	SAP SE SPON ADR SAP	SAP	6,232	$1.5m1.19%	1.19%	New
12	LOGITECH INTL S A SHS LOGI	LOGI	9,763	$978.4k0.77%	0.77%	Unchanged
13	ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH MT	MT	19,700	$897.7k0.71%	0.71%	Unchanged
14	SHELL PLC SPON ADS SHEL	SHEL	9,938	$730.2k0.58%	0.58%	New
15	MIAMI INTL HLDGS INC COM MIAX	MIAX	15,173	$673.4k0.53%	0.53%	Unchanged
16	EQUINOR ASA SPONSORED ADR EQNR	EQNR	22,000	$519.9k0.41%	0.41%	Added +1.9k	+1,864 9.3%
17	ARGENX SE SPONSORED ADR ARGX	ARGX	500	$420.5k0.33%	0.33%	Unchanged
18	WOODSIDE ENERGY GROUP LTD SPONSORED ADR WDS	WDS	23,908	$372.7k0.29%	0.29%	Reduced -5.3k	-5,308 -18.2%
19	FRONTLINE PLC COM FRO	FRO	15,200	$331.7k0.26%	0.26%	Added +200	+200 1.3%

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
STMICROELECTRONICS N V STM · Call	STM	Call	50,000	$1.3m50.0k shares	New
FRONTLINE PLC FRO · Call	FRO	Call	47,500	$1.0m47.5k shares	Reduced