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Livermore
Livermore
ZHEN

Ionic Capital Management LLC

SEC CIK
0001386462
Latest filing
Aug 14, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 17, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
119
+30 vs. Q3 2025
Portfolio value
$101.0M
+$11.2M (+12.5%) vs. Q3 2025
Filed
Feb 17, 2026
SEC
Holdings of Ionic Capital Management LLC in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
CSTMConstellium SECL A SHS218,566$4.12M4.1%00.0%UnchangedHistory
TNLTravel & Leisure Co.COM57,589$4.06M4.0%00.0%UnchangedHistory
GXOGXO Logistics, Inc.Stock68,582$3.61M3.6%−9,867−12.6%ReducedHistory
On Semiconductor Corp682189AU9NOTE 0.500% 3/0–$3.32M3.3%–––
Array Technologies, Inc.04271TAB6NOTE 1.000%12/0–$3.17M3.1%–New–
ATMUAtmus Filtration Technologies Inc.COM60,003$3.11M3.1%−8,352−12.2%ReducedHistory
FLEXFlex Ltd.Stock49,253$2.98M2.9%00.0%UnchangedHistory
Varonis Sys Inc922280AD4NOTE 1.000% 9/1–$2.79M2.8%–New–
AIOTPowerfleet, Inc.COM519,977$2.77M2.7%+165,000+46.5%AddedHistory
GMEDGlobus Medical IncStock31,596$2.76M2.7%−15,000−32.2%ReducedHistory
VanEck ETF Trust92189F106GOLD MINERS ETF29,864$2.56M2.5%−6,127−17.0%Reduced–
RHRHCOM13,900$2.49M2.5%+3,200+29.9%AddedHistory
PRMBPrimo Brands CorpCLASS A COM SHS147,438$2.41M2.4%+45,000+43.9%AddedHistory
STRKStrategy IncSERIES A PERP PF28,772$2.27M2.2%−13,437−31.8%ReducedHistory
YETIYETI Holdings, Inc.COM49,500$2.19M2.2%00.0%UnchangedHistory
VVRInvesco Senior Income TrustCOM608,000$1.99M2.0%+608,000NewHistory
FLSFlowserve CorpCOM27,000$1.87M1.9%−8,000−22.9%ReducedHistory
MUMicron Technology IncStock6,418$1.83M1.8%−3,213−33.4%ReducedHistory
QQQXNuveen NASDAQ 100 Dynamic Overwrite FundCOM SHS61,842$1.76M1.7%−7,304−10.6%ReducedHistory
MARA Holdings, Inc.565788AH9NOTE 6/0–$1.68M1.7%–New–
CFLTConfluent, Inc.CLASS A COM55,000$1.66M1.6%+55,000NewHistory
MSFTMicrosoft CorpStock3,100$1.50M1.5%+3,100NewHistory
COHRCoherent Corp.COM8,000$1.48M1.5%−10,000−55.6%ReducedHistory
WIWWestern Asset Inflation-Linked Opportunities & Income FundCEF170,464$1.46M1.5%+14,224+9.1%AddedHistory
NVDANVIDIA CorpStock7,791$1.45M1.4%−146−1.8%ReducedHistory
JHXJames Hardie Industries plcStock69,127$1.43M1.4%−22,500−24.6%ReducedHistory
GTMZoomInfo Technologies Inc.Stock140,504$1.43M1.4%+119,310+562.9%AddedHistory
SNXTD Synnex CorpCOM9,100$1.37M1.4%00.0%UnchangedHistory
BABAAlibaba Group Holding LtdADR8,994$1.32M1.3%−962−9.7%ReducedHistory
iShares Semiconductor ETF464287523ETF4,215$1.27M1.3%+1,030+32.3%Added–
GBTGGlobal Business Travel Group, Inc.COM CL A158,007$1.21M1.2%−10,000−6.0%ReducedHistory
SOLSSolstice Advanced Materials Inc.COM SHS24,500$1.19M1.2%+24,500NewHistory
Listed FDS Tr53656G498ROUN MA SEVE ETF17,762$1.17M1.2%00.0%Unchanged–
DIAXNuveen Dow 30sm Dynamic Overwrite FundSHS72,133$1.10M1.1%−274−0.4%ReducedHistory
Crane HBR Acquisition CorpG24979109CL A100,000$1.08M1.1%+100,000New–
AMDAdvanced Micro Devices IncStock4,948$1.06M1.0%+808+19.5%AddedHistory
AAPLApple Inc.Stock3,866$1.05M1.0%+318+9.0%AddedHistory
AVGOBroadcom Inc.Stock2,951$1.02M1.0%−76−2.5%ReducedHistory
WBDWarner Bros. Discovery, Inc.Stock35,000$1.01M1.0%+35,000NewHistory
PLTRPalantir Technologies Inc.Stock5,282$938.9K0.9%00.0%UnchangedHistory
USALiberty All Star Equity FundSH BEN INT125,000$785.0K0.8%+125,000NewHistory
TSLATesla, Inc.Stock1,650$742.0K0.7%00.0%UnchangedHistory
HDRNHadron Energy, Inc.ORD SHS CL A70,000$737.8K0.7%+70,000NewHistory
ALITAlight, Inc. / DelawareCOM CL A367,752$717.1K0.7%−200,000−35.2%ReducedHistory
METAMeta Platforms, Inc.Stock1,075$709.6K0.7%−225−17.3%ReducedHistory
DBRGDigitalBridge Group, Inc.CL A NEW44,500$682.6K0.7%+44,500NewHistory
AEMAgnico Eagle Mines LtdStock4,000$678.1K0.7%+4,000NewHistory
BHFBrighthouse Financial, Inc.COM9,750$631.7K0.6%−1,250−11.4%ReducedHistory
BXMXNuveen S&P 500 BuyWrite Income FundCOM42,861$630.1K0.6%+42,861NewHistory
MANUManchester United plcORD CL A39,380$626.9K0.6%+5,200+15.2%AddedHistory
NAKNorthern Dynasty Minerals LtdCOM NEW309,000$608.7K0.6%−208,500−40.3%ReducedHistory
HYTBlackRock Corporate High Yield Fund, Inc.COM65,000$578.5K0.6%+65,000NewHistory
AVYAvery Dennison CorpCOM3,000$545.6K0.5%+3,000NewHistory
GLWCorning IncCOM6,000$525.4K0.5%00.0%UnchangedHistory
NFJVirtus Dividend, Interest & Premium Strategy FundCOM40,000$515.6K0.5%+40,000NewHistory
CIFRCipher Digital Inc.COM33,200$490.0K0.5%−46,800−58.5%ReducedHistory
UNFUnifirst CorpCOM2,500$482.3K0.5%+2,500NewHistory
AMZNAmazon Com IncStock2,050$473.2K0.5%00.0%UnchangedHistory
SPROSpero Therapeutics, Inc.COM195,939$456.5K0.5%−12,786−6.1%ReducedHistory
SIRISirius XM Holdings Inc.COMMON STOCK22,500$449.9K0.4%−7,500−25.0%ReducedHistory
SCHLScholastic CorpCOM15,000$444.4K0.4%+15,000NewHistory
IQiQIYI, Inc.SPONSORED ADS231,424$444.3K0.4%+231,424NewHistory
WOLFWolfspeed, Inc.COMMON STOCK25,519$444.3K0.4%+25,519NewHistory
BATRKAtlanta Braves Holdings, Inc.COM SER C10,689$421.7K0.4%−3,500−24.7%ReducedHistory
ETHAiShares Ethereum Trust ETFSHS18,672$418.8K0.4%−10,750−36.5%ReducedHistory
UNHUnitedHealth Group IncStock1,268$418.6K0.4%+1,268NewHistory
KGCKinross Gold CorpCOM14,500$408.3K0.4%+14,500NewHistory
CEPTCantor Equity Partners II, Inc.CL A ORD SHS35,000$394.1K0.4%+35,000NewHistory
CORZCore Scientific, Inc.COM25,000$364.0K0.4%+25,000NewHistory
CZRCaesars Entertainment, Inc.COM15,000$350.9K0.3%−45,000−75.0%ReducedHistory
XZOExzeo Group, Inc.COM SHS13,519$327.8K0.3%+13,519NewHistory
BLDRBuilders FirstSource, Inc.Stock3,000$308.7K0.3%−6,000−66.7%ReducedHistory
SSTKShutterstock, Inc.COM15,381$293.8K0.3%+15,381NewHistory
BBAIBigBear.ai Holdings, Inc.COM54,000$291.6K0.3%+54,000NewHistory
COINCoinbase Global, Inc.COM CL A1,252$283.1K0.3%−242−16.2%ReducedHistory
GENVRGen Digital Inc.COM62,410$282.1K0.3%00.0%UnchangedHistory
BATRAAtlanta Braves Holdings, Inc.COM SER A6,191$263.1K0.3%−628−9.2%ReducedHistory
VWAVWVisionWave Holdings, Inc.COM221,898$259.6K0.3%+100,900+83.4%AddedHistory
BEBloom Energy CorpCOM CL A2,987$259.5K0.3%+2,987NewHistory
GETYGetty Images Holdings, Inc.CL A COM185,000$247.9K0.2%+185,000NewHistory
USOUnited States Oil Fund, LPUNITS3,528$244.0K0.2%+3,528NewHistory
CRWVCoreWeave, Inc.Stock3,292$235.7K0.2%−3,708−53.0%ReducedHistory
CRCLCircle Internet Group, Inc.COM CL A2,928$232.2K0.2%+2,928NewHistory
MSTRStrategy IncStock1,419$215.6K0.2%−583−29.1%ReducedHistory
HYIWestern Asset High Yield Opportunity Fund Inc.COM19,113$213.3K0.2%+19,113NewHistory
SBETSharplink, Inc.COM NEW19,875$177.7K0.2%−32,125−61.8%ReducedHistory
KDKRWKodiak AI, Inc.*W EXP 09/25/203101,015$154.6K0.2%+101,015NewHistory
PENNPENN Entertainment, Inc.COM10,000$147.5K0.1%−30,000−75.0%ReducedHistory
TMC the metals Co Inc.87261Y114*W EXP 09/09/202112,693$145.4K0.1%−81,423−41.9%Reduced–
FCXFreeport-McMoran IncStock2,500$127.0K0.1%+2,500NewHistory
AUROWAurora Innovation, Inc.EQUITY WRT538,267$121.2K0.1%−105,500−16.4%ReducedHistory
Bed Bath & Beyond Inc075896159*W EXP 10/07/202145,121$95.8K0.1%+145,121New–
LiveWire Group, Inc.53838J113*W EXP 09/26/2021,522,201$95.3K0.1%00.0%Unchanged–
Archer Aviation Inc.03945R110*W EXP 09/16/20281,329$93.1K0.1%+63,968+368.5%Added–
Net Power Inc.64107A113*W EXP 06/08/202163,972$82.0K0.1%−47,216−22.4%Reduced–
OPENOpendoor Technologies Inc.COM12,000$70.0K0.1%−6,227−34.2%ReducedHistory
BGLWWBlue Gold Ltd*W EXP 04/01/203134,194$56.5K0.1%+106,923+392.1%AddedHistory
NIOBWNiocorp Developments Ltd*W EXP 03/17/20229,581$55.0K0.1%−167,995−85.0%ReducedHistory
Evolv Technologies HLDNGS IN30049H110*W EXP 03/10/202197,268$53.2K0.1%00.0%Unchanged–
GCT Semiconductor Hldg Inc36170N115*W EXP 03/01/202673,000$50.7K0.1%00.0%Unchanged–

Options (24)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Ionic Capital Management LLC in Q4 2025
SecurityClassPutsCalls
iShares Tr464288513IBOXX HI YD ETF$370.9M–
iShares Russell 2000 ETF464287655ETF$73.8M$73.8M
Invesco QQQ Trust Series I46090E103ETF$30.7M$30.7M
iShares Tr464287234MSCI EMG MKT ETF–$54.7M
iShares Inc464286400MSCI BRAZIL ETF$22.2M–
XOMExxonMobil Holdings CorpCOM$2.05M$2.05M
GENGen Digital Inc.Stock$3.94M–
PLPlanet Labs PBCCOM CL A$3.00M–
CRMSalesforce, Inc.Stock–$2.65M
INTCIntel CorpStock–$1.98M
CDECoeur Mining, Inc.COM NEW$1.78M–
CFLTConfluent, Inc.CLASS A COM–$1.78M
HUBSHubSpot IncCOM–$1.40M
IQiQIYI, Inc.SPONSORED ADS$697.9K$672.0K
GMEGameStop Corp.Stock–$1.14M
FCXFreeport-McMoran IncStock–$1.09M
MARAMARA Holdings, Inc.COM–$898.0K
GLXYGalaxy Digital Inc.CL A–$782.6K
KGCKinross Gold CorpCOM$563.2K–
MSTRStrategy IncStock$379.9K–
BLDRBuilders FirstSource, Inc.Stock–$360.1K
STUBStubHub Holdings, Inc.CL A–$338.3K
2X Ether ETF92864M798ETF$207.9K–
XXITwenty One Capital, Inc.COM SHS CL A–$175.2K

Sold out since Q3 2025 (16)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of Ionic Capital Management LLC sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
INFQInfleqtion, Inc.SHS CL A125,000$1.61M1.8%History
HPEHewlett Packard Enterprise CoCOM57,000$1.40M1.6%History
TDSTelephone & Data Systems IncCOM NEW29,254$1.15M1.3%History
AMCRAmcor plcORD120,800$988.1K1.1%History
SMCISuper Micro Computer, Inc.Stock16,551$793.5K0.9%History
LIONLionsgate Studios Corp.COM105,561$728.4K0.8%History
COOPMaverick Merger Sub 2, LLCCOM2,799$590.0K0.7%History
GSR III Acquisition Corp.G4R103107CL A50,000$518.0K0.6%–
LWAYLifeway Foods, Inc.COM18,000$499.7K0.6%History
Joby Aviation, Inc.G65163118*W EXP 08/10/20252,415$314.5K0.4%–
EAElectronic Arts Inc.COM1,500$302.6K0.3%History
SBSWSibanye Stillwater LtdSPONSORED ADR25,460$286.2K0.3%History
PCTTWPureCycle Technologies, Inc.*W EXP 01/28/20275,205$254.2K0.3%History
ASTSAST SpaceMobile, Inc.COM CL A5,005$245.6K0.3%History
RKTRocket Companies, Inc.Stock10,935$211.9K0.2%History
AURAurora Innovation, Inc.CLASS A COM33,246$179.2K0.2%History