UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
09-30-2025
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
RPO LLC
Address:
6 Landmark Square, 4th Floor
Stamford, CT 06901
Form 13F File Number:
028-21641

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Zuzana Guggenheimer
Title:
CFO
Phone:
203-485-8813


Signature, Place, and Date of Signing:

/s/Zuzana Guggenheimer
                         [Signature]
Stamford, CONNECTICUT
                 [City, State]
11-12-2025
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
44
Form 13F Information table Value Total:
959185209
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
21SHARES ETHEREUM ETFSHS04071F1022,088,320100,400SHSOLE100,400 0 0
ALEANNA INC*W EXP 12/13/20201444V1112,64013,896SHSOLE13,896 0 0
ARK 21SHARES BITCOIN ETFSHS BEN INT0409191022,949,21177,570SHSOLE77,570 0 0
BANK AMERICA CORPCOM06050510424,247,300470,000SHCallSOLE470,000 0 0
BANK AMERICA CORPCOM06050510427,858,600540,000SHPutSOLE540,000 0 0
BITWISE BITCOIN ETF TRSHS BEN INT09174C1043,825,59761,485SHSOLE61,485 0 0
BITWISE ETHEREUM ETFSHS0919551041,270,33242,600SHSOLE42,600 0 0
BLAIZE HLDGS INC*W EXP 01/13/20309291511528,27745,520SHSOLE45,520 0 0
CALAMOS GBL DYN INCOME FUNDCOM12811L107465,96561,799SHSOLE61,799 0 0
CARNIVAL PLCADS14365C1033,235,436122,369SHSOLE122,369 0 0
CLOUGH GLOBAL DIVID & INCOMECOM18913Y103420,98070,753SHSOLE70,753 0 0
CLOUGH GLOBAL EQUITY FDCOM18914C100702,60992,327SHSOLE92,327 0 0
CLOUGH GLOBAL OPPORTUNITIESSH BEN INT18914E106635,430111,479SHSOLE111,479 0 0
COINSHARES BITCOIN ETFCOM91916J1001,750,96154,159SHSOLE54,159 0 0
CONOCOPHILLIPSCOM20825C10422,417,830237,000SHCallSOLE237,000 0 0
CONOCOPHILLIPSCOM20825C10423,079,960244,000SHPutSOLE244,000 0 0
FIDELITY ETHEREUM FDSHS31613E1032,152,29051,800SHSOLE51,800 0 0
FIDELITY WISE ORIGIN BITCOINSHS3159481094,966,24749,757SHSOLE49,757 0 0
FRANKLIN TEMPLETON DIGITAL HBITCOIN ETF SHS3549211082,343,83435,400SHSOLE35,400 0 0
GRAYSCALE BITCOIN MINI TR ETSHS NEW3899302072,323,91745,900SHSOLE45,900 0 0
INVESCO GALAXY BITCOIN ETFCOM SHS BEN INT46091J1012,314,40320,300SHSOLE20,300 0 0
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F1013,718,00057,200SHSOLE57,200 0 0
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F1013,900,00060,000SHCallSOLE60,000 0 0
ISHARES ETHEREUM TRSHS46438R1051,559,74549,500SHSOLE49,500 0 0
MICROSOFT CORPCOM59491810416,056,45031,000SHCallSOLE31,000 0 0
MICROSOFT CORPCOM59491810428,487,25055,000SHPutSOLE55,000 0 0
MORGAN STANLEYCOM NEW6174464487,789,04049,000SHCallSOLE49,000 0 0
MORGAN STANLEYCOM NEW61744644811,763,04074,000SHPutSOLE74,000 0 0
NUVEEN DOW 30 DYNMC OVERWRTSHS67075F105584,73039,270SHSOLE39,270 0 0
NVIDIA CORPORATIONCOM67066G10421,270,120114,000SHCallSOLE114,000 0 0
NVIDIA CORPORATIONCOM67066G10444,219,460237,000SHPutSOLE237,000 0 0
QUALCOMM INCCOM7475251033,826,28023,000SHCallSOLE23,000 0 0
QUALCOMM INCCOM74752510315,471,48093,000SHPutSOLE93,000 0 0
SEAGATE HDD CAYMANNOTE 3.500% 6/081180WBL414,333,5005,000,000PRNSOLE5,000,000 0 0
SPDR S&P 500 ETF TRTR UNIT78462F10312,948,54019,437SHSOLE19,437 0 0
SPDR S&P 500 ETF TRTR UNIT78462F103239,824,800360,000SHCallSOLE360,000 0 0
SPDR S&P 500 ETF TRTR UNIT78462F103360,403,380541,000SHPutSOLE541,000 0 0
SPDR SERIES TRUSTS&P METALS MNG78464A7556,523,30070,000SHCallSOLE70,000 0 0
SPDR SERIES TRUSTS&P METALS MNG78464A75521,992,840236,000SHPutSOLE236,000 0 0
SRH TOTAL RETURN FUND INCCOM1015071013,068,859168,990SHSOLE168,990 0 0
STRATEGY INCNOTE 0.625% 9/1594972AQ49,463,5005,000,000PRNSOLE5,000,000 0 0
SUNRUN INCCOM86771W105518,70030,000SHPutSOLE30,000 0 0
VANECK BITCOIN ETFSH BEN INT92189K1052,254,37669,644SHSOLE69,644 0 0
WEBULL CORP*W EXP 04/10/203G9572D111127,68021,000SHSOLE21,000 0 0