Q3 2025 · 13F-HR
ARK Investment Management LLCholdings as filed
Filed 2025-11-12 · accession 0001104659-25-110217
$16.80B
Reported value
196
Positions
2025-09-30
Period end
The Brief · ARK Investment Management LLC · Q3 2025
AI · grounded in 13F
ARK Investment Management LLC established a new position in TSLA valued at $1.6B. The fund also opened new stakes in COIN for $808.5M and ROKU for $736.1M. Additional new positions include PLTR, RBLX, and HOOD.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 88160R101 | TSLA | Tesla Inc | $1.60B | 9.50% | 3,589,622 | Common | SOLE |
| 19260Q107 | COIN | Coinbase Global Inc | $808.5M | 4.81% | 2,395,540 | Common | SOLE |
| 77543R102 | ROKU | Roku Inc | $736.1M | 4.38% | 7,351,856 | Common | SOLE |
| 69608A108 | PLTR | Palantir Technologies Inc | $736.1M | 4.38% | 4,035,093 | Common | SOLE |
| 771049103 | RBLX | ROBLOX Corp | $735.9M | 4.38% | 5,312,821 | Common | SOLE |
| 770700102 | HOOD | Robinhood Markets Inc | $718.3M | 4.28% | 5,017,044 | Common | SOLE |
| 82509L107 | SHOP | Shopify Inc | $715.7M | 4.26% | 4,815,833 | Common | SOLE |
| H17182108 | CRSP | CRISPR Therapeutics AG | $634.3M | 3.78% | 9,786,973 | Common | SOLE |
| 88023B103 | TEM | Tempus AI Inc | $579.2M | 3.45% | 7,175,767 | Common | SOLE |
| 007903107 | AMD | Advanced Micro Devices Inc | $494.7M | 2.94% | 3,057,911 | Common | SOLE |
| 172573107 | CRCL | Circle Internet Group Inc | $393.4M | 2.34% | 2,966,940 | Common | SOLE |
| 09175A206 | BMNR | BitMine Immersion Technologies | $387.9M | 2.31% | 7,469,813 | Common | SOLE |
| 880770102 | TER | Teradyne Inc | $374.7M | 2.23% | 2,722,327 | Common | SOLE |
| 50077B207 | KTOS | Kratos Defense & Security Solu | $329.3M | 1.96% | 3,604,328 | Common | SOLE |
| 03945R102 | ACHR | Archer Aviation Inc | $299.9M | 1.78% | 31,301,449 | Common | SOLE |
| 07373V105 | BEAM | Beam Therapeutics Inc | $267.9M | 1.59% | 11,038,834 | Common | SOLE |
| 023135106 | AMZN | Amazon.com Inc | $267.6M | 1.59% | 1,218,608 | Common | SOLE |
| 040919102 | ARKB | ARK 21Shares Bitcoin ETF | $240.4M | 1.43% | 6,322,716 | Common | SOLE |
| 30303M102 | META | Meta Platforms Inc | $219.1M | 1.30% | 298,412 | Common | SOLE |
| G13311116 | SLMT | Brera Holdings PLC | $218.4M | 1.30% | 7,279,620 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA Corporation | $217.5M | 1.29% | 1,165,661 | Common | SOLE |
| 874039100 | TSM | Taiwan Semiconductor Manufactu | $207.2M | 1.23% | 742,028 | Common | SOLE |
| 45826J105 | NTLA | Intellia Therapeutics Inc | $205.8M | 1.23% | 11,919,178 | Common | SOLE |
| 852234103 | XYZ | Block Inc | $193.2M | 1.15% | 2,673,415 | Common | SOLE |
| 90184D100 | TWST | Twist Bioscience Corp | $189.3M | 1.13% | 6,726,808 | Common | SOLE |
| G16910120 | BLSH | Bullish | $163.9M | 0.98% | 2,576,709 | Common | SOLE |
| 75629V104 | RXRX | Recursion Pharmaceuticals Inc | $163.7M | 0.97% | 33,545,499 | Common | SOLE |
| 37637K108 | GTLB | Gitlab Inc | $155.0M | 0.92% | 3,437,617 | Common | SOLE |
| 72352L106 | PINS | Pinterest Inc | $153.5M | 0.91% | 4,770,939 | Common | SOLE |
| 92337F107 | VCYT | Veracyte Inc | $153.3M | 0.91% | 4,465,775 | Common | SOLE |
| 244199105 | DE | Deere & Co | $150.5M | 0.90% | 329,201 | Common | SOLE |
| 69553P100 | PD | PagerDuty Inc | $145.8M | 0.87% | 8,827,404 | Common | SOLE |
| 632307104 | NTRA | Natera Inc | $143.7M | 0.86% | 892,593 | Common | SOLE |
| 452327109 | ILMN | Illumina Inc | $139.4M | 0.83% | 1,467,879 | Common | SOLE |
| 88025U109 | TXG | 10X Genomics Inc | $139.0M | 0.83% | 11,887,396 | Common | SOLE |
| 83406F102 | SOFI | SoFi Technologies Inc | $130.7M | 0.78% | 4,945,247 | Common | SOLE |
| 26142V105 | DKNG | DraftKings Inc | $128.6M | 0.77% | 3,438,916 | Common | SOLE |
| 008073108 | AVAV | AeroVironment Inc | $126.1M | 0.75% | 400,457 | Common | SOLE |
| 009066101 | ABNB | Airbnb Inc | $125.8M | 0.75% | 1,035,828 | Common | SOLE |
| 05605H100 | BWXT | BWX Technologies Inc | $125.6M | 0.75% | 680,996 | Common | SOLE |
| 30063P105 | EXK | Exact Sciences Corp | $119.6M | 0.71% | 2,186,168 | Common | SOLE |
| 773121108 | RKLB | Rocket Lab Corp | $119.1M | 0.71% | 2,486,795 | Common | SOLE |
| 46269C102 | IRDM | Iridium Communications Inc | $113.3M | 0.67% | 6,490,108 | Common | SOLE |
| 88339J105 | TTD | Trade Desk Inc/The | $113.1M | 0.67% | 2,306,691 | Common | SOLE |
| 02079K107 | GOOG | Alphabet Inc | $82.6M | 0.49% | 338,956 | Common | SOLE |
| 888787108 | TOST | Toast Inc | $75.3M | 0.45% | 2,063,456 | Common | SOLE |
| 896239100 | TRMB | Trimble Inc | $75.0M | 0.45% | 918,438 | Common | SOLE |
| 056752108 | BIDU | Baidu Inc | $67.0M | 0.40% | 508,388 | Common | SOLE |
| 502431109 | LHX | L3Harris Technologies Inc | $67.0M | 0.40% | 219,294 | Common | SOLE |
| 21873S108 | CRWV | CoreWeave Inc | $64.0M | 0.38% | 467,957 | Common | SOLE |
| 22788C105 | CRWD | Crowdstrike Holdings Inc | $63.9M | 0.38% | 130,239 | Common | SOLE |
| 58733R102 | MELI | MercadoLibre Inc | $60.1M | 0.36% | 25,722 | Common | SOLE |
| 25809K105 | DASH | DoorDash Inc | $57.5M | 0.34% | 211,398 | Common | SOLE |
| L8681T102 | SPOT | Spotify Technology SA | $56.0M | 0.33% | 80,285 | Common | SOLE |
| 71535D106 | PSNL | Personalis Inc | $51.6M | 0.31% | 7,910,191 | Common | SOLE |
| 40131M109 | GH | Guardant Health Inc | $49.7M | 0.30% | 795,234 | Common | SOLE |
| G65163100 | JOBY | Joby Aviation Inc | $48.6M | 0.29% | 3,010,461 | Common | SOLE |
| 81663L200 | WGS | GeneDx Holdings Corp | $48.2M | 0.29% | 446,979 | Common | SOLE |
| 18915M107 | NET | Cloudflare Inc | $47.7M | 0.28% | 222,318 | Common | SOLE |
| 00650F109 | ADPT | Adaptive Biotechnologies Corp | $47.4M | 0.28% | 3,165,636 | Common | SOLE |
| 462222100 | IONS | Ionis Pharmaceuticals Inc | $41.3M | 0.25% | 631,215 | Common | SOLE |
| 69404D108 | PACB | Pacific Biosciences of Califor | $39.6M | 0.24% | 30,924,103 | Common | SOLE |
| 91332U101 | U | Unity Software Inc | $39.1M | 0.23% | 976,973 | Common | SOLE |
| 80810D103 | SDGR | Schrodinger Inc/United States | $37.6M | 0.22% | 1,872,677 | Common | SOLE |
| 01609W102 | BABA | Alibaba Group Holding Ltd | $37.6M | 0.22% | 210,178 | Common | SOLE |
| 00091E109 | ABSI | Absci Corp | $37.0M | 0.22% | 12,162,773 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM Inc | $36.8M | 0.22% | 221,426 | Common | SOLE |
| 75734B100 | RDDT | Reddit Inc | $36.4M | 0.22% | 158,120 | Common | SOLE |
| 03969T109 | ARCT | Arcturus Therapeutics Holdings | $34.5M | 0.21% | 1,872,721 | Common | SOLE |
| 092667104 | SRTA | Strata Critical Medical Inc | $32.4M | 0.19% | 6,404,585 | Common | SOLE |
| 87151X101 | SYM | Symbotic Inc | $31.8M | 0.19% | 589,887 | Common | SOLE |
| 14167L103 | CDNA | CareDx Inc | $31.6M | 0.19% | 2,170,625 | Common | SOLE |
| 23804L103 | DDOG | Datadog Inc | $31.4M | 0.19% | 220,178 | Common | SOLE |
| 316841105 | FIG | Figma Inc | $30.4M | 0.18% | 586,023 | Common | SOLE |
| 74168J101 | PRME | Prime Medicine Inc | $30.3M | 0.18% | 5,477,851 | Common | SOLE |
| G3934V109 | GENI | Genius Sports Limited | $30.1M | 0.18% | 2,430,125 | Common | SOLE |
| 157085101 | CERS | Cerus Corp | $30.0M | 0.18% | 18,850,188 | Common | SOLE |
| 74624M102 | P | Pure Storage Inc | $29.1M | 0.17% | 347,093 | Common | SOLE |
| 732908108 | PONY | Pony AI Inc | $28.6M | 0.17% | 1,272,690 | Common | SOLE |
| 81141R100 | SE | Sea Ltd | $28.1M | 0.17% | 157,132 | Common | SOLE |
| M3760D101 | ESLT | Elbit Systems Ltd | $27.3M | 0.16% | 53,569 | Common | SOLE |
| 88428H101 | ETHQ | 3iQ Ether Staking ETF | $27.2M | 0.16% | 1,671,669 | Common | SOLE |
| 13321L108 | CCJ | Cameco Corp | $26.9M | 0.16% | 321,040 | Common | SOLE |
| 781154109 | RBRK | Rubrik Inc | $26.2M | 0.16% | 319,112 | Common | SOLE |
| 051774107 | AUR | Aurora Innovation Inc | $25.6M | 0.15% | 4,743,215 | Common | SOLE |
| 871607107 | SNPS | Synopsys Inc | $25.4M | 0.15% | 51,558 | Common | SOLE |
| 451051106 | IBTA | Ibotta Inc | $25.3M | 0.15% | 907,386 | Common | SOLE |
| 36118L106 | FUTU | Futu Holdings Ltd | $22.6M | 0.13% | 129,777 | Common | SOLE |
| G6683N103 | NU | NU Holdings Ltd | $22.5M | 0.13% | 1,407,648 | Common | SOLE |
| 46125A100 | LUNR | Intuitive Machines Inc | $21.8M | 0.13% | 2,073,233 | Common | SOLE |
| 879360105 | TDY | Teledyne Technologies Inc | $20.8M | 0.12% | 35,539 | Common | SOLE |
| 98954M200 | Z | Zillow Group Inc | $20.1M | 0.12% | 261,166 | Common | SOLE |
| 79466L302 | CRM | Salesforce Inc | $18.0M | 0.11% | 76,013 | Common | SOLE |
| 02156V109 | OKLO | Oklo Inc | $17.5M | 0.10% | 156,481 | Common | SOLE |
| 65443P102 | MASS | 908 Devices Inc | $17.1M | 0.10% | 1,953,772 | Common | SOLE |
| G5279N105 | KLAR | Klarna Group PLC | $16.9M | 0.10% | 461,712 | Common | SOLE |
| 65345M108 | NXDR | Nextdoor Holdings Inc | $16.7M | 0.10% | 7,971,035 | Common | SOLE |
| 88428J107 | SOLQ | 3iQ Solana Staking ETF | $16.3M | 0.10% | 985,476 | Common | SOLE |
| G32089107 | ETOR | Etoro Group Ltd | $16.0M | 0.10% | 387,164 | Common | SOLE |
| 149123101 | CAT | Caterpillar Inc | $14.9M | 0.09% | 31,144 | Common | SOLE |
| 67080M103 | NRIX | Nurix Therapeutics Inc | $14.0M | 0.08% | 1,510,404 | Common | SOLE |
| M5216V106 | GLBE | Global-e Online Ltd | $13.8M | 0.08% | 386,873 | Common | SOLE |
| 031162100 | AMGN | Amgen Inc | $13.3M | 0.08% | 47,265 | Common | SOLE |
| 46120E602 | ISRG | Intuitive Surgical Inc | $13.3M | 0.08% | 29,812 | Common | SOLE |
| 45337C102 | INCY | Incyte Corp | $12.5M | 0.07% | 147,335 | Common | SOLE |
| 20451W101 | CMPS | Compass Pathways Plc | $12.2M | 0.07% | 2,121,118 | Common | SOLE |
| 922475108 | VEEV | Veeva Systems Inc | $12.1M | 0.07% | 40,551 | Common | SOLE |
| 124155102 | BFLY | Butterfly Network Inc | $11.9M | 0.07% | 6,145,348 | Common | SOLE |
| 48581R205 | KSPI | Kaspi.KZ JSC | $11.6M | 0.07% | 141,780 | Common | SOLE |
| 70450Y103 | PYPL | PayPal Holdings Inc | $10.8M | 0.06% | 160,627 | Common | SOLE |
| 74765K105 | QSI | Quantum-Si Inc | $10.7M | 0.06% | 7,624,042 | Common | SOLE |
| N0731H103 | ATAI | ATAI Life Sciences NV | $10.7M | 0.06% | 2,019,551 | Common | SOLE |
| 461202103 | INTU | Intuit Inc | $10.5M | 0.06% | 15,430 | Common | SOLE |
| 92532F100 | VRTX | Vertex Pharmaceuticals Inc | $10.1M | 0.06% | 25,665 | Common | SOLE |
| 45866F104 | ICE | Intercontinental Exchange Inc | $9.6M | 0.06% | 56,843 | Common | SOLE |
| 090043100 | BILL | BILL Holdings Inc | $8.0M | 0.05% | 151,654 | Common | SOLE |
| 142152107 | CAI | Caris Life Sciences Inc | $7.4M | 0.04% | 245,350 | Common | SOLE |
| H2906T109 | GRMN | Garmin Ltd | $7.1M | 0.04% | 28,925 | Common | SOLE |
| 75886F107 | REGN | Regeneron Pharmaceuticals Inc | $6.8M | 0.04% | 12,142 | Common | SOLE |
| 500081104 | KDK | Kodiak AI Inc | $6.3M | 0.04% | 919,593 | Common | SOLE |
| 422806109 | HEI | HEICO Corp | $5.3M | 0.03% | 16,341 | Common | SOLE |
| M85548101 | SSYS | Stratasys Ltd | $5.0M | 0.03% | 446,325 | Common | SOLE |
| 88554D205 | DDD | 3D Systems Corp | $4.9M | 0.03% | 1,680,520 | Common | SOLE |
| 98423F109 | XMTR | Xometry Inc | $4.6M | 0.03% | 84,413 | Common | SOLE |
| 438516106 | HON | Honeywell International Inc | $4.6M | 0.03% | 21,714 | Common | SOLE |
| 031100100 | AME | AMETEK Inc | $4.3M | 0.03% | 22,963 | Common | SOLE |
| 34385P108 | LAB | Standard BioTools Inc | $3.9M | 0.02% | 3,021,728 | Common | SOLE |
| 69370C100 | PTC | PTC Inc | $3.6M | 0.02% | 17,790 | Common | SOLE |
| 743713109 | PRLB | Proto Labs Inc | $3.6M | 0.02% | 71,797 | Common | SOLE |
| 052769106 | ADSK | Autodesk Inc | $3.5M | 0.02% | 11,025 | Common | SOLE |
| 00214Q500 | PRNT | The 3D Printing ETF | $3.3M | 0.02% | 142,696 | Common | SOLE |
| 40434L105 | HPQ | HP Inc | $3.2M | 0.02% | 117,932 | Common | SOLE |
| M51474118 | GILT | Gilat Satellite Networks Ltd | $3.2M | 0.02% | 246,235 | Common | SOLE |
| 594918104 | MSFT | Microsoft Corp | $3.2M | 0.02% | 6,124 | Common | SOLE |
| 63008G203 | NNDM | Nano Dimension Ltd | $3.0M | 0.02% | 1,935,939 | Common | SOLE |
| 24906P109 | XRAY | DENTSPLY SIRONA Inc | $2.9M | 0.02% | 226,543 | Common | SOLE |
| M87915274 | TSEM | Tower Semiconductor Ltd | $2.9M | 0.02% | 39,638 | Common | SOLE |
| 57667T100 | MTLS | Materialise NV | $2.8M | 0.02% | 505,829 | Common | SOLE |
| G7T16G103 | S3P | Sapiens International Corp NV | $2.8M | 0.02% | 64,757 | Common | SOLE |
| 539830109 | LMT | Lockheed Martin Corp | $2.7M | 0.02% | 5,392 | Common | SOLE |
| M8740S227 | TATT | TAT Technologies Ltd | $2.6M | 0.02% | 62,805 | Common | SOLE |
| M96088105 | URGN | UroGen Pharma Ltd | $2.5M | 0.02% | 126,720 | Common | SOLE |
| M2197Q107 | CLBT | Cellebrite DI Ltd | $2.5M | 0.01% | 133,518 | Common | SOLE |
| M2682V108 | CYBR | CyberArk Software Ltd | $2.4M | 0.01% | 5,062 | Common | SOLE |
| 881624209 | TEVA | Teva Pharmaceutical Industries | $2.4M | 0.01% | 118,721 | Common | SOLE |
| M0854Q105 | ALLT | Allot Ltd | $2.3M | 0.01% | 226,442 | Common | SOLE |
| M6191J100 | FROG | JFrog Ltd | $2.2M | 0.01% | 47,390 | Common | SOLE |
| M98068105 | WIX | Wix.com Ltd | $2.2M | 0.01% | 12,494 | Common | SOLE |
| M7516K103 | NVMI | Nova Ltd | $2.2M | 0.01% | 6,930 | Common | SOLE |
| M20791105 | CAMT | Camtek Ltd | $2.2M | 0.01% | 20,950 | Common | SOLE |
| M84137104 | SMWB | SimilarWeb Ltd | $2.1M | 0.01% | 230,053 | Common | SOLE |
| M81865111 | RDCM | RADCOM Ltd | $2.1M | 0.01% | 144,570 | Common | SOLE |
| M7S750159 | NYAX | Nayax Ltd | $2.1M | 0.01% | 43,117 | Common | SOLE |
| M5425M103 | INMD | Inmode Ltd | $2.1M | 0.01% | 137,597 | Common | SOLE |
| M7S64L123 | PGY | Pagaya Technologies Ltd | $2.0M | 0.01% | 66,533 | Common | SOLE |
| 559166103 | MGIC | Magic Software Enterprises Ltd | $1.9M | 0.01% | 91,821 | Common | SOLE |
| M22465104 | CHKP | Check Point Software Technologies Ltd | $1.9M | 0.01% | 8,953 | Common | SOLE |
| M4R82T106 | FVRR | Fiverr International Ltd | $1.8M | 0.01% | 75,569 | Common | SOLE |
| 653656108 | NICE | Nice Ltd | $1.8M | 0.01% | 12,638 | Common | SOLE |
| M8744T106 | TBLA | Taboola.com Ltd | $1.8M | 0.01% | 530,584 | Common | SOLE |
| M8T80P204 | NEXN | Nexxen International Ltd | $1.8M | 0.01% | 194,362 | Common | SOLE |
| M6158M104 | ITRN | Ituran Location and Control Ltd | $1.8M | 0.01% | 50,002 | Common | SOLE |
| M81873107 | RDWR | Radware Ltd | $1.8M | 0.01% | 67,391 | Common | SOLE |
| M6240T109 | KMDA | Kamada Ltd | $1.8M | 0.01% | 256,217 | Common | SOLE |
| M25133105 | CGNT | Cognyte Software Ltd | $1.8M | 0.01% | 210,050 | Common | SOLE |
| M68830112 | MDWD | MediWound Ltd | $1.7M | 0.01% | 96,879 | Common | SOLE |
| M8216R109 | RSKD | Riskified Ltd | $1.7M | 0.01% | 368,310 | Common | SOLE |
| M15342104 | AUDC | AudioCodes Ltd | $1.7M | 0.01% | 180,164 | Common | SOLE |
| M7518J104 | ODD | Oddity Tech Ltd | $1.7M | 0.01% | 27,476 | Common | SOLE |
| 60741F104 | MBLY | Mobileye Global Inc | $1.7M | 0.01% | 120,887 | Common | SOLE |
| M78673114 | PERI | Perion Network Ltd | $1.6M | 0.01% | 171,322 | Common | SOLE |
| 72815L107 | PLTK | Playtika Holding Corp | $1.6M | 0.01% | 420,301 | Common | SOLE |
| M70700105 | NNOX | Nano-X Imaging Ltd | $1.4M | 0.01% | 384,788 | Common | SOLE |
| 00214Q104 | ARKK | ARK Innovation ETF | $1.4M | 0.01% | 16,471 | Common | SOLE |
| 369604301 | GE | GE Aerospace | $1.3M | 0.01% | 4,393 | Common | SOLE |
| M7S64H106 | MNDY | Monday.com Ltd | $1.3M | 0.01% | 6,721 | Common | SOLE |
| 615394202 | MOG/A | Moog Inc | $1.2M | 0.01% | 6,009 | Common | SOLE |
| M9607U115 | VLN | Valens Semiconductor Ltd | $1.2M | 0.01% | 691,880 | Common | SOLE |
| 533900106 | LECO | Lincoln Electric Holdings Inc | $1.2M | 0.01% | 5,148 | Common | SOLE |
| 483007704 | KALU | Kaiser Aluminum Corp | $996,367 | 0.01% | 12,913 | Common | SOLE |
| 911312106 | UPS | United Parcel Service Inc | $970,034 | 0.01% | 11,613 | Common | SOLE |
| 016255101 | ALGN | Align Technology Inc | $777,366 | 0.00% | 6,208 | Common | SOLE |
| 464287614 | IWF | iShares Russell 1000 Growth ETF | $338,557 | 0.00% | 723 | Common | SOLE |
| 00214Q302 | ARKG | ARK Genomic Revolution ETF | $195,814 | 0.00% | 7,051 | Common | SOLE |
| 46438R105 | ETHA | iShares Ethereum Trust ETF | $139,652 | 0.00% | 4,432 | Common | SHARED |
| 576690101 | MTRN | Materion Corp | $83,842 | 0.00% | 694 | Common | SOLE |
| 26614N102 | DD | DuPont de Nemours Inc | $71,746 | 0.00% | 921 | Common | SOLE |
| 428291108 | HXL | Hexcel Corp | $70,851 | 0.00% | 1,130 | Common | SOLE |
| 88579Y101 | MMM | 3M Co | $70,762 | 0.00% | 456 | Common | SOLE |
| 05368V106 | AVNT | Avient Corporation | $69,821 | 0.00% | 2,119 | Common | SOLE |
| 466313103 | JBL | Jabil Inc | $67,540 | 0.00% | 311 | Common | SOLE |
| 277461406 | KODK | Eastman Kodak Co | $66,087 | 0.00% | 10,310 | Common | SOLE |
| 01741R102 | ATI | ATI Inc | $60,354 | 0.00% | 742 | Common | SOLE |
| 144285103 | CRS | Carpenter Technology Corp | $59,175 | 0.00% | 241 | Common | SOLE |
| 489170100 | KMT | Kennametal Inc | $57,620 | 0.00% | 2,753 | Common | SOLE |
| 277432100 | EMN | Eastman Chemical Co | $53,719 | 0.00% | 852 | 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.