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Quarry LP
Quarry LP is a hedge fund and SEC-registered investment adviser headquartered in New York, NY. Incorporated in Delaware, it manages over $700 million in assets as of March 2025. The firm primarily serves pooled investment vehicles and institutional clients, and maintains a lean staff—recent filings indicate approximately 14 employees. Quarry LP is the investment adviser to TQ Master Fund LP and has been active in the SEC reporting universe since at least 2022.
Investment Strategy
Quarry LP manages diversified, multi-asset portfolios with both discretionary and systematic strategies. Its approach includes equity, fixed income, commodities, and alternative investments as evidenced by large positions in ETFs such as SPDR Gold Trust and iShares 20+ Year Treasury Bond ETF, as well as direct investments in US listed equities and other securities. The firm focuses on active management involving deep research and seeks to generate absolute returns for its investors across varying market conditions. Its client base is exclusively pooled investment vehicles.
Latest 13F Filing Activity
Quarry LP filed their most recent 13F report on Jun 30, 2025 disclosing 1,618 equity positions and 9 options positions with a total 13F market value of $470M. The fund increased holdings in Kellanova, Ansys Inc., Frontier Communications Pare among other positions. Quarry LP reduced exposure to Discover Finl SVCS, Blaize HLDGS Inc., Aa Mission Acquisition Corp. among others.
Top Holdings
Equity Positions (1,618)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
H HES | HESS CORP | 4.74% | $22.3M | 160,770 | $149.22 | $138.54 | +$3.4M |
K K | KELLANOVA | 4.04% | $19.0M | 238,781 | $79.54 | $79.53 | +$18.9M |
C CHX | CHAMPIONX CORPORATION | 3.38% | $15.9M | 639,504 | $29.19 | $24.84 | -$4.4M |
F FYBR | FRONTIER COMMUNICATIONS PARE | 3.07% | $14.4M | 396,829 | $36.20 | $36.40 | +$9.3M |
I IPG | INTERPUBLIC GROUP COS INC | 3.05% | $14.3M | 586,060 | $26.07 | $24.48 | +$5.7M |
Options Positions (9)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SWTX | SPRINGWORKS THERAPEUTICS INC | New | Call | $13.4M | 2,850 | $46.99 | $46.99 | +2,850 | +$13.4M |
T TLT | ISHARES TR | Sold | Call | $8.8M | 1,000 | $88.25 | $90.76 | -1,000 | -$9.4M |
G GLD | SPDR GOLD TR | Bought | Call | $3.8M | 125 | $304.83 | $304.83 | +125 | +$3.8M |
D DJT | TRUMP MEDIA & TECHNOLOGY GRO | New | Put | $2.8M | 1,550 | $18.04 | $18.04 | +1,550 | +$2.8M |
C CVX | CHEVRON CORP NEW | New | Call | $2.5M | 170 | $143.19 | $143.19 | +170 | +$2.5M |
Industry Allocation
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