Nathaniel Simons – Meritage Group Options Positions & Derivatives (Jun 30, 2025)

As of Jun 30, 2025, the Meritage Group portfolio disclosed options positions in its latest SEC 13F filing reported on Aug 13, 2025. These filings include call and put options tied to underlying equity holdings, providing a deeper look at the fund's use of derivatives for exposure and hedging.

The reported options activity included 41 call contracts and 61 put contracts across companies such as SPDR S&P 500 (SPY), Electronic Arts Inc. (EA), Verizon Communications Inc. (VZ). Options positions can signal strategies around hedging risk, enhancing leverage, or adjusting portfolio exposure during market shifts.

Balances

Meritage Group Options Activity

Date	Symbol	Name	Option	Quantity	Value
Q4 2016	HBI Hanesbrands Inc.	Hanesbrands Inc.	CALL	750,000	$16,178
Q4 2016	SPY SPDR S&P 500	SPDR S&P 500	PUT	3,300,000	$737,649
Q4 2016	TEVA Teva Pharmaceutical Industries	Teva Pharmaceutical Industries	CALL	811,300	$29,410
Q4 2016	WFC Wells Fargo & Company	Wells Fargo & Company	CALL	500,300	$27,572
Q3 2016	ABBV AbbVie Inc.	AbbVie Inc.	PUT	200,000	$12,614
Q3 2016	ADSK Autodesk, Inc.	Autodesk, Inc.	CALL	222,800	$16,115
Q3 2016	AMZN Amazon.com, Inc.	Amazon.com, Inc.	PUT	44,800	$37,511
Q3 2016	GM General Motors Company	General Motors Company	CALL	627,300	$19,929
Q3 2016	SPY SPDR S&P 500	SPDR S&P 500	PUT	2,500,000	$540,750
Q2 2016	ADSK Autodesk, Inc.	Autodesk, Inc.	CALL	222,800	$12,062
Q2 2016	GM General Motors Company	General Motors Company	CALL	819,300	$23,186
Q2 2016	SPY SPDR S&P 500	SPDR S&P 500	PUT	3,100,000	$649,373
Q2 2016	WFC Wells Fargo & Company	Wells Fargo & Company	PUT	623,200	$29,496
Q1 2016	ADSK Autodesk, Inc.	Autodesk, Inc.	CALL	222,600	$12,980
Q1 2016	GM General Motors Company	General Motors Company	CALL	1,000,000	$31,430
Q1 2016	SPY SPDR S&P 500	SPDR S&P 500	PUT	3,700,000	$760,424
Q4 2015	AMAT Applied Materials, Inc.	Applied Materials, Inc.	CALL	600,000	$11,202
Q4 2015	GLD SPDR Gold Trust	SPDR Gold Trust	CALL	500,000	$50,730
Q4 2015	SPY SPDR S&P 500	SPDR S&P 500	PUT	1,400,000	$285,418
Q3 2015	AMAT Applied Materials, Inc.	Applied Materials, Inc.	CALL	600,000	$8,814
Q3 2015	EEM iShares MSCI Emerging Index Fun	iShares MSCI Emerging Index Fun	CALL	600,000	$19,668
Q3 2015	GLD SPDR Gold Trust	SPDR Gold Trust	CALL	500,000	$53,430
Q3 2015	SPY SPDR S&P 500	SPDR S&P 500	CALL	2,837,300	$543,712
Q3 2015	WFC Wells Fargo & Company	Wells Fargo & Company	PUT	198,200	$10,178
Q2 2015	AMAT Applied Materials, Inc.	Applied Materials, Inc.	CALL	600,000	$11,532
Q2 2015	GLD SPDR Gold Trust	SPDR Gold Trust	CALL	500,000	$56,185
Q2 2015	SPY SPDR S&P 500	SPDR S&P 500	PUT	500,000	$102,925
Q2 2015	WFC Wells Fargo & Company	Wells Fargo & Company	PUT	398,200	$22,395
Q1 2015	AMAT Applied Materials, Inc.	Applied Materials, Inc.	CALL	600,000	$13,536
Q1 2015	GLD SPDR Gold Trust	SPDR Gold Trust	CALL	500,000	$56,830

Page 2 of 4 • 102 total positions

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