Q4 2025 · 13F-HR
Ionic Capital Management LLCholdings as filed
Filed 2026-02-17 · accession 0000929638-26-000662
$785.9M
Reported value
147
Positions
2025-12-31
Period end
The Brief · Ionic Capital Management LLC · Q4 2025
AI · grounded in 13F
Ionic Capital Management LLC established a new position in QQQ valued at $61.4M. The fund also opened new stakes in XOM for $4.1M and Array Technologies Inc for $3.2M, while increasing its holding in IWM by 50%. On the sell side, the fund trimmed its position in EEM by 71.4% and closed its position in Churchill Cap Corp X.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464288513 | HYG | ISHARES TR | $370.9M | 47.2% | 4,600,000 | PUT | SOLE |
| 464287655 | IWM | ISHARES TR | $73.8M | 9.40% | 300,000 | PUT | SOLE |
| 464287655 | IWM | ISHARES TR | $73.8M | 9.40% | 300,000 | CALL | SOLE |
| 464287234 | EEM | ISHARES TR | $54.7M | 6.96% | 1,000,000 | CALL | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $30.7M | 3.91% | 50,000 | PUT | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $30.7M | 3.91% | 50,000 | CALL | SOLE |
| 464286400 | EWZ | ISHARES INC | $22.2M | 2.83% | 700,000 | PUT | SOLE |
| F21107101 | CSTM | CONSTELLIUM SE | $4.1M | 0.52% | 218,566 | Common | SOLE |
| 894164102 | TNL | TRAVEL PLUS LEISURE CO | $4.1M | 0.52% | 57,589 | Common | SOLE |
| 668771108 | GEN | GEN DIGITAL INC | $3.9M | 0.50% | 145,000 | PUT | SOLE |
| 36262G101 | GXO | GXO LOGISTICS INCORPORATED | $3.6M | 0.46% | 68,582 | Common | SOLE |
| 682189AU9 | ON 0.5 03/01/29 | ON SEMICONDUCTOR CORP | $3.3M | 0.42% | 3,500,000 | Common | SOLE |
| 04271TAB6 | ARRY 1 12/01/28 | ARRAY TECHNOLOGIES INC | $3.2M | 0.40% | 3,500,000 | Common | SOLE |
| 04956D107 | ATMU | ATMUS FILTRATION TECHNOLOGIE | $3.1M | 0.40% | 60,003 | Common | SOLE |
| 72703X106 | PL | PLANET LABS PBC | $3.0M | 0.38% | 152,000 | PUT | SOLE |
| Y2573F102 | FLEX | FLEX LTD | $3.0M | 0.38% | 49,253 | Common | SOLE |
| 922280AD4 | VRNS 1 09/15/29 | VARONIS SYS INC | $2.8M | 0.36% | 3,000,000 | Common | SOLE |
| 73931J109 | AIOT | POWERFLEET INC | $2.8M | 0.35% | 519,977 | Common | SOLE |
| 379577208 | GMED | GLOBUS MED INC | $2.8M | 0.35% | 31,596 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $2.6M | 0.34% | 10,000 | CALL | SOLE |
| 92189F106 | GDX | VANECK ETF TRUST | $2.6M | 0.33% | 29,864 | Common | SOLE |
| 74967X103 | RH | RH | $2.5M | 0.32% | 13,900 | Common | SOLE |
| 741623102 | PRMB | PRIMO BRANDS CORPORATION | $2.4M | 0.31% | 147,438 | Common | SOLE |
| 594972887 | MSTR 8 PERP | STRATEGY INC | $2.3M | 0.29% | 28,772 | Common | SOLE |
| 98585X104 | YETI | YETI HLDGS INC | $2.2M | 0.28% | 49,500 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $2.0M | 0.26% | 17,000 | CALL | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $2.0M | 0.26% | 17,000 | PUT | SOLE |
| 46131H107 | VVR | INVESCO SR INCOME TR | $2.0M | 0.25% | 608,000 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $2.0M | 0.25% | 53,700 | CALL | SOLE |
| 34354P105 | FLS | FLOWSERVE CORP | $1.9M | 0.24% | 27,000 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $1.8M | 0.23% | 6,418 | Common | SOLE |
| 192108504 | CDE | COEUR MNG INC | $1.8M | 0.23% | 100,000 | PUT | SOLE |
| 20717M103 | 8QR | CONFLUENT INC | $1.8M | 0.23% | 58,700 | CALL | SOLE |
| 670699107 | QQQX | NUVEEN NASDAQ 100 DYNAMIC OV | $1.8M | 0.22% | 61,842 | Common | SOLE |
| 565788AH9 | MARA 0 06/01/31 | MARA HOLDINGS INC | $1.7M | 0.21% | 2,000,000 | Common | SOLE |
| 20717M103 | 8QR | CONFLUENT INC | $1.7M | 0.21% | 55,000 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $1.5M | 0.19% | 3,100 | Common | SOLE |
| 19247G107 | COHR | COHERENT CORP | $1.5M | 0.19% | 8,000 | Common | SOLE |
| 95766R104 | WIW | WESTERN AST INFL LKD OPP & I | $1.5M | 0.19% | 170,464 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $1.5M | 0.18% | 7,791 | Common | SOLE |
| G4253H101 | JHX | JAMES HARDIE INDS PLC | $1.4M | 0.18% | 69,127 | Common | SOLE |
| 98980F104 | GTM | ZOOMINFO TECHNOLOGIES INC | $1.4M | 0.18% | 140,504 | Common | SOLE |
| 443573100 | HUBS | HUBSPOT INC | $1.4M | 0.18% | 3,500 | CALL | SOLE |
| 87162W100 | SNX | TD SYNNEX CORPORATION | $1.4M | 0.17% | 9,100 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $1.3M | 0.17% | 8,994 | Common | SOLE |
| 464287523 | SOXX | ISHARES TR | $1.3M | 0.16% | 4,215 | Common | SOLE |
| 37890B100 | GBTG | GLOBAL BUSINESS TRAVEL GROUP | $1.2M | 0.15% | 158,007 | Common | SOLE |
| 83443Q103 | SOLS | SOLSTICE ADVANCED MATLS INC | $1.2M | 0.15% | 24,500 | Common | SOLE |
| 53656G498 | MAGS | LISTED FDS TR | $1.2M | 0.15% | 17,762 | Common | SOLE |
| 36467W109 | GME | GAMESTOP CORP NEW | $1.1M | 0.15% | 56,900 | CALL | SOLE |
| 67075F105 | XDIAX | NUVEEN DOW 30 DYNMC OVERWRT | $1.1M | 0.14% | 72,133 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $1.1M | 0.14% | 21,400 | CALL | SOLE |
| G24979109 | CHAC | CRANE HBR ACQUISITION CORP | $1.1M | 0.14% | 100,000 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $1.1M | 0.13% | 4,948 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $1.1M | 0.13% | 3,866 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $1.0M | 0.13% | 2,951 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $1.0M | 0.13% | 35,000 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $938,876 | 0.12% | 5,282 | Common | SOLE |
| 565788106 | MARA | MARA HOLDINGS INC | $898,000 | 0.11% | 100,000 | CALL | SOLE |
| 530158104 | USA | LIBERTY ALL STAR EQUITY FD | $785,000 | 0.10% | 125,000 | Common | SOLE |
| 36317J209 | GLXY | GALAXY DIGITAL INC. | $782,600 | 0.10% | 35,000 | CALL | SOLE |
| 88160R101 | TSLA | TESLA INC | $742,038 | 0.09% | 1,650 | Common | SOLE |
| G38648104 | GIG | GIGCAPITAL7 CORP | $737,800 | 0.09% | 70,000 | Common | SOLE |
| 01626W101 | ALIT | ALIGHT INC | $717,116 | 0.09% | 367,752 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $709,597 | 0.09% | 1,075 | Common | SOLE |
| 46267X108 | IQ | IQIYI INC | $697,920 | 0.09% | 363,500 | PUT | SOLE |
| 25401T603 | DBRG | DIGITALBRIDGE GROUP INC | $682,630 | 0.09% | 44,500 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTD | $678,120 | 0.09% | 4,000 | Common | SOLE |
| 46267X108 | IQ | IQIYI INC | $672,000 | 0.09% | 350,000 | CALL | SOLE |
| 10922N103 | BHF | BRIGHTHOUSE FINL INC | $631,703 | 0.08% | 9,750 | Common | SOLE |
| 6706ER101 | XBXMX | NUVEEN S&P 500 BUY-WRITE INC | $630,057 | 0.08% | 42,861 | Common | SOLE |
| G5784H106 | MANU | MANCHESTER UTD PLC NEW | $626,930 | 0.08% | 39,380 | Common | SOLE |
| 66510M204 | NAK | NORTHERN DYNASTY MINERALS LT | $608,730 | 0.08% | 309,000 | Common | SOLE |
| 09255P107 | HYT | BLACKROCK CORPOR HI YLD FD I | $578,500 | 0.07% | 65,000 | Common | SOLE |
| 496902404 | KGC | KINROSS GOLD CORP | $563,200 | 0.07% | 20,000 | PUT | SOLE |
| 053611109 | AVY | AVERY DENNISON CORP | $545,640 | 0.07% | 3,000 | Common | SOLE |
| 219350105 | GLW | CORNING INC | $525,360 | 0.07% | 6,000 | Common | SOLE |
| 92840R101 | NFJ | VIRTUS DIVIDEND INTEREST & P | $515,600 | 0.07% | 40,000 | Common | SOLE |
| 17253J106 | CIFR | CIPHER MINING INC | $490,032 | 0.06% | 33,200 | Common | SOLE |
| 904708104 | UNF | UNIFIRST CORP MASS | $482,250 | 0.06% | 2,500 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $473,181 | 0.06% | 2,050 | Common | SOLE |
| 84833T103 | SPRO | SPERO THERAPEUTICS INC | $456,538 | 0.06% | 195,939 | Common | SOLE |
| 829933100 | SIRI | SIRIUSXM HOLDINGS INC | $449,888 | 0.06% | 22,500 | Common | SOLE |
| 807066105 | SCHL | SCHOLASTIC CORP | $444,450 | 0.06% | 15,000 | Common | SOLE |
| 46267X108 | IQ | IQIYI INC | $444,334 | 0.06% | 231,424 | Common | SOLE |
| 97785W106 | WOLF | WOLFSPEED INC | $444,286 | 0.06% | 25,519 | Common | SOLE |
| 047726302 | BATRK | ATLANTA BRAVES HLDGS INC | $421,681 | 0.05% | 10,689 | Common | SOLE |
| 46438R105 | ETHA | ISHARES ETHEREUM TR | $418,813 | 0.05% | 18,672 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $418,579 | 0.05% | 1,268 | Common | SOLE |
| 496902404 | KGC | KINROSS GOLD CORP | $408,320 | 0.05% | 14,500 | Common | SOLE |
| G1827P106 | CEPT | CANTOR EQUITY PARTNERS II IN | $394,100 | 0.05% | 35,000 | Common | SOLE |
| 594972408 | MSTR | STRATEGY INC | $379,875 | 0.05% | 2,500 | PUT | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $364,000 | 0.05% | 25,000 | Common | SOLE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $360,115 | 0.05% | 3,500 | CALL | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $350,850 | 0.04% | 15,000 | Common | SOLE |
| 86384P109 | STUB | STUBHUB HLDGS INC | $338,250 | 0.04% | 25,000 | CALL | SOLE |
| 30234F101 | XZO | EXZEO GROUP INC | $327,836 | 0.04% | 13,519 | Common | SOLE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $308,670 | 0.04% | 3,000 | Common | SOLE |
| 825690100 | SSTK | SHUTTERSTOCK INC | $293,777 | 0.04% | 15,381 | Common | SOLE |
| 08975B109 | BBAI | BIGBEAR AI HLDGS INC | $291,600 | 0.04% | 54,000 | Common | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $283,127 | 0.04% | 1,252 | Common | SOLE |
| 668771116 | GENVR | GEN DIGITAL INC | $282,093 | 0.04% | 62,410 | Common | SOLE |
| 047726104 | BATRA | ATLANTA BRAVES HLDGS INC | $263,056 | 0.03% | 6,191 | Common | SOLE |
| 927950113 | VWAVW | VISIONWAVE HOLDINGS INC | $259,621 | 0.03% | 221,898 | Common | SOLE |
| 093712107 | BE | BLOOM ENERGY CORP | $259,540 | 0.03% | 2,987 | Common | SOLE |
| 374275105 | GETY | GETTY IMAGES HOLDINGS INC | $247,900 | 0.03% | 185,000 | Common | SOLE |
| 91232N207 | USO | UNITED STS OIL FD LP | $243,996 | 0.03% | 3,528 | Common | SOLE |
| 21873S108 | CRWV | COREWEAVE INC | $235,740 | 0.03% | 3,292 | Common | SOLE |
| 172573107 | CRCL | CIRCLE INTERNET GROUP INC | $232,190 | 0.03% | 2,928 | Common | SOLE |
| 594972408 | MSTR | STRATEGY INC | $215,617 | 0.03% | 1,419 | Common | SOLE |
| 95768B107 | HYI | WESTERN ASSET HIGH YIELD OPP | $213,301 | 0.03% | 19,113 | Common | SOLE |
| 92864M798 | ETHU | VOLATILITY SHS TR | $207,860 | 0.03% | 3,800 | PUT | SOLE |
| 820014405 | SBET | SHARPLINK GAMING INC | $177,683 | 0.02% | 19,875 | Common | SOLE |
| 90138L109 | XXI | TWENTY ONE CAP INC | $175,200 | 0.02% | 20,000 | CALL | SOLE |
| 500081112 | KDKRW | KODIAK AI INC. | $154,553 | 0.02% | 101,015 | Common | SOLE |
| 707569109 | PENN | PENN ENTERTAINMENT INC | $147,500 | 0.02% | 10,000 | Common | SOLE |
| 87261Y114 | TMCWW | TMC THE METALS COMPANY INC | $145,374 | 0.02% | 112,693 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $126,975 | 0.02% | 2,500 | Common | SOLE |
| 051774115 | AUROW | AURORA INNOVATION INC | $121,164 | 0.02% | 538,267 | Common | SOLE |
| 075896159 | BBBY/WS | BED BATH & BEYOND INC | $95,780 | 0.01% | 145,121 | Common | SOLE |
| 53838J113 | LVWR/WS | LIVEWIRE GROUP INC | $95,290 | 0.01% | 1,522,201 | Common | SOLE |
| 03945R110 | ACHR/WS | ARCHER AVIATION INC | $93,122 | 0.01% | 81,329 | Common | SOLE |
| 64107A113 | NPWR/WS | NET POWER INC | $81,986 | 0.01% | 163,972 | Common | SOLE |
| 683712103 | OPEN | OPENDOOR TECHNOLOGIES INC | $69,960 | 0.01% | 12,000 | Common | SOLE |
| G1331C112 | BGLWW | BLUE GOLD LTD | $56,523 | 0.01% | 134,194 | Common | SOLE |
| 654484153 | NIOBW | NIOCORP DEVS LTD | $55,021 | 0.01% | 29,581 | Common | SOLE |
| 30049H110 | EVLVW | EVOLV TECHNOLOGIES HLDNGS IN | $53,183 | 0.01% | 197,268 | Common | SOLE |
| 36170N115 | GCTS/WS | GCT SEMICONDUCTOR HLDG INC | $50,677 | 0.01% | 673,000 | Common | SOLE |
| 683712129 | OPENW | OPENDOOR TECHNOLOGIES INC | $50,287 | 0.01% | 55,874 | Common | SOLE |
| G2662B111 | CRMLW | CRITICAL METALS CORP | $41,010 | 0.01% | 15,022 | Common | SOLE |
| 092915115 | BZAIW | BLAIZE HLDGS INC | $33,762 | 0.00% | 84,427 | Common | SOLE |
| 683712137 | OPENL | OPENDOOR TECHNOLOGIES INC | $31,530 | 0.00% | 60,600 | Common | SOLE |
| 668771108 | GEN | GEN DIGITAL INC | $30,344 | 0.00% | 1,116 | Common | SOLE |
| G5380J118 | LANV/WS | LANVIN GROUP HOLDINGS LIMITE | $30,198 | 0.00% | 1,917,304 | Common | SOLE |
| 683712145 | OPENZ | OPENDOOR TECHNOLOGIES INC | $29,131 | 0.00% | 72,936 | Common | SOLE |
| 64428N117 | NUAIW | NEW ERA ENERGY & DIGITAL INC | $25,479 | 0.00% | 31,068 | Common | SOLE |
| 00373V118 | ABVEW | ABOVE FOOD INGREDIENTS INC | $23,714 | 0.00% | 67,755 | Common | SOLE |
| 84445C118 | SLND/WS | SOUTHLAND HLDGS INC | $21,779 | 0.00% | 253,240 | Common | SOLE |
| G4R52R111 | HPAIW | HELPORT AI LTD | $13,156 | 0.00% | 82,640 | Common | SOLE |
| G53151125 | KWMWW | K WAVE MEDIA LTD | $12,040 | 0.00% | 400,000 | Common | SOLE |
| 36317J209 | GLXY | GALAXY DIGITAL INC. | $11,180 | 0.00% | 500 | Common | SOLE |
| G38648120 | GIGGW | GIGCAPITAL7 CORP | $9,856 | 0.00% | 24,038 | Common | SOLE |
| 09174P113 | BTMWW | BITCOIN DEPOT INC | $7,314 | 0.00% | 65,132 | Common | SOLE |
| 09973D113 | BRLSW | BOREALIS FOODS INC | $3,507 | 0.00% | 70,000 | Common | SOLE |
| G7500M120 | RNWWW | RENEW ENERGY GLOBAL PLC | $1,420 | 0.00% | 200,000 | Common | SOLE |
| 927950105 | VWAV | VISIONWAVE HOLDINGS INC | $926 | 0.00% | 100 | Common | SOLE |
| 92864M798 | ETHU | VOLATILITY SHS TR | $219 | 0.00% | 4 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.