Sycale Advisors LLC

Hedge Fund • Distressed

Sycale Advisors LLC is a Distressed Hedge Fund based in New York, NY led by Arnold Ephraim Dande Ngoje, reporting $512.7M in AUM as of Q3 2025 with 34% Industrials concentration and 77% concentrated in top 10 holdings.

CFOArnold Ephraim Dande Ngoje

Portfolio Value: $320.5M
Positions: 16
Top Holding: CAE at 14.39%
Last Reported: Q3 2025

Address505 Park Avenue, Suite 401, New York, NY, 10022, United States

Top Holdings

Largest long holdings in Sycale Advisors LLC's portfolio (77% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 CAE CAE	Aerospace & Defense Industrials	$46.1M	14.39%	+$3.2M Bought	0.49% 1.6M shares	Q1 2024 Held for 1y 8m
2 Microsoft MSFT	Software - Infrastructure Technology	$33.8M	10.55%	+$8.1M Bought	0.00% 65.3K shares	Q1 2025 Held for 8 months
3 Verra Mobility VRRM	Industrial - Infrastructure Operations Industrials	$29.7M	9.26%	+$5.0M Bought	0.75% 1.2M shares	Q4 2024 Held for 11 months
4 Burford Capital BUR	Asset Management Financial Services	$24.2M	7.54%	+$2.1M Bought	0.92% 2.0M shares	Q4 2020 Held for 4y 11m
5 Intercontinental Exchange ICE	Financial - Data & Stock Exchanges Financial Services	$22.8M	7.12%	+$4.4M Bought	0.02% 135.4K shares	Q3 2023 Held for 2y 2m
6 Mercado Libre MELI	Specialty Retail Consumer Cyclical	$18.8M	5.88%	+$4.5M Bought	0.02% 8.1K shares	Q1 2025 Held for 8 months
7 Nelnet NNI	Financial - Credit Services Financial Services	$18.5M	5.77%	-$1.3M Sold	0.41% 147.4K shares	Q4 2019 Held for 5y 11m
8 APi Group APG	Engineering & Construction Industrials	$17.9M	5.58%	-$2.2M Sold	0.13% 520.2K shares	Q4 2024 Held for 11 months
9 National CineMedia NCMI	Advertising Agencies Communication Services	$17.8M	5.55%	+$3.9M Bought	4.21% 3.9M shares	Q4 2024 Held for 11 months
10 SLM SLM	Financial - Credit Services Financial Services	$17.2M	5.36%	+$5.2M Bought	0.30% 620.2K shares	Q3 2024 Held for 1y 2m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Sycale Advisors LLC's latest filing

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GthenC

Market Value

$320.5M

Prior: $313.3M

Q/Q Change

+2.3%

+$7.2M

Net Flows % of MV

+3.97%

Turnover Ratio

16.05%

New Purchases

1 stocks

$11.9M

Added To

10 stocks

+$45.9M

Sold Out Of

4 stocks

$29.7M

Reduced Holdings

5 stocks

-$15.4M

Increased Positions

Position	Shares Δ	Change
1 Gaming and Leisure Properties GLPI	New	0 → 254.5K +$11.9M
2 iShares Bitcoin Trust IBIT	+228.33%	24.0K → 78.8K +$3.6M
3 Spotify Technology SPOT	+81.19%	10.5K → 19.0K +$6.0M
4 SLM SLM	+43.18%	433.1K → 620.2K +$5.2M
5 Microsoft MSFT	+31.31%	49.7K → 65.3K +$8.1M

Decreased Positions

Position	Shares Δ	Change
1 Cimpress plc CMPR	Sold	200.5K → 0 −$9.4M
2 iShares MSCI Mexico EWW	Sold	136.5K → 0 −$8.3M
3 Uber Technologies UBER	Sold	70.1K → 0 −$6.5M
4 Wayfair W	Sold	106.6K → 0 −$5.5M
5 TKO Group Holdings TKO	-38.29%	105.1K → 64.9K −$8.1M