Q4 2025 Holdings
Filed 2026-02-11 | 1351 holdings | $11.5B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr Gold TR(GLD)Put | GOLD SHS | 78463V107 | $680.9M | 1,718,200 | 5.9% |
| Spdr S&P 500 ETF TR(SPY)Call | TR UNIT | 78462F103 | $506.1M | 742,200 | 4.4% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $308.9M | 453,000 | 2.7% |
| Ishares Gold TR(IAU)Put | ISHARES NEW | 464285204 | $193.6M | 2,385,500 | 1.7% |
| Micron Technology Inc(MU)Put | COM | 595112103 | $129.3M | 453,100 | 1.1% |
| Amgen Inc(AMGN)Call | COM | 031162100 | $100.1M | 305,700 | 0.9% |
| Alphabet Inc(GOOGL)Call | CAP STK CL A | 02079K305 | $85.4M | 272,700 | 0.7% |
| United Parcel Service Inc(UPS)Call | CL B | 911312106 | $80.9M | 815,600 | 0.7% |
| Vaneck ETF Trust(GDX)Call | GOLD MINERS ETF | 92189F106 | $79.4M | 925,200 | 0.7% |
| Applied Matls Inc(AMAT)Put | COM | 038222105 | $78.0M | 303,700 | 0.7% |
| JPMorgan Chase & Co.(JPM)Call | COM | 46625H100 | $77.7M | 241,000 | 0.7% |
| JPMorgan Chase & Co.(JPM)Put | COM | 46625H100 | $65.2M | 202,200 | 0.6% |
| Cisco SYS Inc(CSCO)Call | COM | 17275R102 | $63.8M | 828,000 | 0.6% |
| Tesla Inc(TSLA)Put | COM | 88160R101 | $61.8M | 137,500 | 0.5% |
| Goldman Sachs Group Inc(GS)Call | COM | 38141G104 | $61.2M | 69,600 | 0.5% |
| Advanced Micro Devices Inc(AMD)Put | COM | 007903107 | $58.0M | 270,800 | 0.5% |
| Realty Income Corp(O)Call | COM | 756109104 | $57.1M | 1,013,600 | 0.5% |
| Apple Inc(AAPL)Call | COM | 037833100 | $56.2M | 206,700 | 0.5% |
| Ishares TR(SOXX)Put | ISHARES SEMICDTR | 464287523 | $55.4M | 183,800 | 0.5% |
| Teradyne Inc(TER)Put | COM | 880770102 | $51.7M | 267,200 | 0.5% |
| Thermo Fisher Scientific Inc(TMO)Put | COM | 883556102 | $51.2M | 88,300 | 0.4% |
| LAM Research Corp(LRCX)Put | COM NEW | 512807306 | $50.9M | 297,600 | 0.4% |
| Tesla Inc(TSLA)Call | COM | 88160R101 | $50.5M | 112,200 | 0.4% |
| Amphenol Corp(APH)Put | NEW CL A | 032095101 | $50.3M | 372,200 | 0.4% |
| Ishares TR(EFA)Call | MSCI EAFE ETF | 464287465 | $48.7M | 506,800 | 0.4% |
| Corning Inc(GLW)Put | COM | 219350105 | $48.0M | 548,200 | 0.4% |
| Apple Inc(AAPL)Put | COM | 037833100 | $46.0M | 169,300 | 0.4% |
| Nike Inc(NKE)Put | CL B | 654106103 | $45.8M | 718,200 | 0.4% |
| Mcdonalds Corp(MCD)Call | COM | 580135101 | $45.5M | 149,000 | 0.4% |
| Amazon COM Inc(AMZN)Call | COM | 023135106 | $44.0M | 190,600 | 0.4% |
| Blackstone Inc(BX)Call | COM | 09260D107 | $43.9M | 284,800 | 0.4% |
| Crowdstrike Hldgs Inc(CRWD)Put | CL A | 22788C105 | $42.8M | 91,400 | 0.4% |
| Broadcom Inc(AVGO)Put | COM | 11135F101 | $42.7M | 123,500 | 0.4% |
| Marvell Technology Inc(MRVL)Put | COM | 573874104 | $42.2M | 496,700 | 0.4% |
| Nextera Energy Inc(NEE)Put | COM | 65339F101 | $41.7M | 519,800 | 0.4% |
| Atlassian Corporation(TEAM)Put | CL A | 049468101 | $41.4M | 255,400 | 0.4% |
| Ishares TR(IWM)Call | RUSSELL 2000 ETF | 464287655 | $39.5M | 160,300 | 0.3% |
| Berkshire Hathaway Inc del(BRK/B)Put | CL B NEW | 084670702 | $39.4M | 78,400 | 0.3% |
| AT&T Inc(T)Call | COM | 00206R102 | $39.4M | 1,586,400 | 0.3% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $38.9M | 158,100 | 0.3% |
| Berkshire Hathaway Inc del(BRK/B)Call | CL B NEW | 084670702 | $38.7M | 77,000 | 0.3% |
| GE Vernova Inc(GEV)Put | COM | 36828A101 | $38.4M | 58,700 | 0.3% |
| CVS Health Corp(CVS)Put | COM | 126650100 | $36.9M | 464,600 | 0.3% |
| ARM Holdings PLC(ARM)Put | SPONSORED ADS | 042068205 | $36.6M | 334,900 | 0.3% |
| Amgen Inc(AMGN)Put | COM | 031162100 | $36.3M | 110,800 | 0.3% |
| Palo Alto Networks Inc(PANW)Put | COM | 697435105 | $36.2M | 196,400 | 0.3% |
| Oracle Corp(ORCL)Put | COM | 68389X105 | $36.1M | 185,400 | 0.3% |
| LAS Vegas Sands Corp(LVS)Put | COM | 517834107 | $35.7M | 548,400 | 0.3% |
| Johnson & Johnson(JNJ)Put | COM | 478160104 | $35.6M | 172,000 | 0.3% |
| Markel Group Inc(MKL)Call | COM | 570535104 | $35.3M | 16,400 | 0.3% |