Q4 2025 Holdings
Filed 2026-02-17 | 1605 holdings | $50.7B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $8.9B | 13,015,600 | 17.5% |
| Invesco QQQ TR(QQQ)Put | UNIT SER 1 | 46090E103 | $2.3B | 3,768,600 | 4.6% |
| Invesco QQQ TR(QQQ)Call | UNIT SER 1 | 46090E103 | $1.9B | 3,116,300 | 3.8% |
| Spdr S&P 500 ETF TR(SPY)Call | TR UNIT | 78462F103 | $1.9B | 2,732,800 | 3.7% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $1.2B | 4,864,100 | 2.4% |
| Tesla Inc(TSLA)Put | COM | 88160R101 | $1.1B | 2,505,900 | 2.2% |
| Select Sector Spdr TR(XLF)Call | STATE STREET FIN | 81369Y605 | $964.0M | 17,601,200 | 1.9% |
| Nvidia Corporation(NVDA)Put | COM | 67066G104 | $779.9M | 4,181,900 | 1.5% |
| Select Sector Spdr TR(XLF)Put | STATE STREET FIN | 81369Y605 | $621.7M | 11,350,400 | 1.2% |
| Meta Platforms Inc(META)Call | CL A | 30303M102 | $613.5M | 929,400 | 1.2% |
| Apple Inc(AAPL)Put | COM | 037833100 | $588.0M | 2,163,000 | 1.2% |
| Meta Platforms Inc(META)Put | CL A | 30303M102 | $575.0M | 871,100 | 1.1% |
| Spdr Gold TR(GLD)Put | GOLD SHS | 78463V107 | $517.2M | 1,305,000 | 1.0% |
| Nvidia Corporation(NVDA)Call | COM | 67066G104 | $500.5M | 2,683,800 | 1.0% |
| Broadcom Inc(AVGO)Put | COM | 11135F101 | $489.8M | 1,415,200 | 1.0% |
| Alphabet Inc(GOOGL)Put | CAP STK CL A | 02079K305 | $485.2M | 1,550,100 | 1.0% |
| Spdr Gold TR(GLD)Call | GOLD SHS | 78463V107 | $465.8M | 1,175,300 | 0.9% |
| Tesla Inc(TSLA)Call | COM | 88160R101 | $350.5M | 779,300 | 0.7% |
| Vaneck ETF Trust(SMH)Put | SEMICONDUCTR ETF | 92189F676 | $309.9M | 860,400 | 0.6% |
| Taiwan Semiconductor MFG LTD(TSM)Put | SPONSORED ADS | 874039100 | $303.3M | 998,000 | 0.6% |
| Oracle Corp(ORCL)Put | COM | 68389X105 | $302.0M | 1,549,500 | 0.6% |
| Boeing Co(BA)Put | COM | 097023105 | $298.5M | 1,374,600 | 0.6% |
| Alphabet Inc(GOOGL)Call | CAP STK CL A | 02079K305 | $289.8M | 925,900 | 0.6% |
| Ishares TR(IWM)Call | RUSSELL 2000 ETF | 464287655 | $288.3M | 1,171,000 | 0.6% |
| Visa Inc(V)Call | COM CL A | 92826C839 | $279.4M | 796,800 | 0.6% |
| American Express Co(AXP) | COM | 025816109 | $271.5M | 733,883 | 0.5% |
| Amazon COM Inc(AMZN)Call | COM | 023135106 | $265.4M | 1,149,800 | 0.5% |
| Microsoft Corp(MSFT)Put | COM | 594918104 | $262.9M | 543,700 | 0.5% |
| Vaneck ETF Trust(SMH)Call | SEMICONDUCTR ETF | 92189F676 | $258.8M | 718,700 | 0.5% |
| Ishares Silver TR(SLV)Call | ISHARES | 46428Q109 | $258.4M | 4,010,900 | 0.5% |
| Carvana Co(CVNA)Call | CL A | 146869102 | $237.3M | 562,400 | 0.5% |
| Amazon COM Inc(AMZN)Put | COM | 023135106 | $236.2M | 1,023,200 | 0.5% |
| Coinbase Global Inc(COIN)Put | COM CL A | 19260Q107 | $229.3M | 1,014,100 | 0.5% |
| Ishares TR(EFA)Put | MSCI EAFE ETF | 464287465 | $223.5M | 2,327,600 | 0.4% |
| Microsoft Corp(MSFT)Call | COM | 594918104 | $221.8M | 458,700 | 0.4% |
| Apollo Global Mgmt Inc(APO)Call | COM | 03769M106 | $211.9M | 1,463,500 | 0.4% |
| Strategy Inc(MSTR)Put | CL A NEW | 594972408 | $210.7M | 1,386,900 | 0.4% |
| Alibaba Group Hldg LTD(BABA)Put | SPONSORED ADS | 01609W102 | $196.6M | 1,341,000 | 0.4% |
| Ishares Silver TR(SLV)Put | ISHARES | 46428Q109 | $195.6M | 3,035,600 | 0.4% |
| Ishares TR(HYG)Put | IBOXX HI YD ETF | 464288513 | $192.3M | 2,384,800 | 0.4% |
| American Airls Group Inc(AAL)Put | COM | 02376R102 | $191.1M | 12,466,200 | 0.4% |
| Apple Inc(AAPL)Call | COM | 037833100 | $184.9M | 680,300 | 0.4% |
| Netflix Inc(NFLX)Put | COM | 64110L106 | $181.8M | 1,939,200 | 0.4% |
| Uber Technologies Inc(UBER)Put | COM | 90353T100 | $179.9M | 2,201,400 | 0.4% |
| Alphabet Inc(GOOG)Put | CAP STK CL C | 02079K107 | $178.6M | 569,300 | 0.4% |
| American Express Co(AXP)Put | COM | 025816109 | $175.2M | 473,500 | 0.3% |
| Ishares TR(EEM)Call | MSCI EMG MKT ETF | 464287234 | $174.5M | 3,188,800 | 0.3% |
| Micron Technology Inc(MU)Put | COM | 595112103 | $172.2M | 603,200 | 0.3% |
| Select Sector Spdr TR(XLE)Put | STATE STREET ENE | 81369Y506 | $168.8M | 3,776,100 | 0.3% |
| JPMorgan Chase & Co.(JPM)Put | COM | 46625H100 | $164.3M | 510,000 | 0.3% |