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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
2X Ether ETF92864M798ETF4$219<0.1%00.0%Unchanged–
VWAVVisionWave Holdings, Inc.COM100$926<0.1%+100NewHistory
ReNew Energy Global plcG7500M120*W EXP 08/30/202200,000$1.42K<0.1%00.0%Unchanged–
BRLSWBorealis Foods Inc.EQUITY WRT70,000$3.51K<0.1%00.0%UnchangedHistory
Bitcoin Depot IN09174P113EQUITY WRT65,132$7.31K<0.1%+65,132New–
HDRNWHadron Energy, Inc.*W EXP 08/29/20224,038$9.86K<0.1%+24,038NewHistory
GLXYGalaxy Digital Inc.CL A500$11.2K<0.1%+500NewHistory
NXATWNexus Advanced Technologies Inc.*W EXP 05/14/203400,000$12.0K<0.1%00.0%UnchangedHistory
HPAIWHelport AI Ltd*W EXP 03/31/20282,640$13.2K<0.1%00.0%UnchangedHistory
Southland Hldgs I 28 Wtfwarrants Exp 02/14/2884445C118ETF253,240$21.8K<0.1%−15,741−5.9%Reduced–
Above Food Ingredients Inc.00373V118*W EXP 06/28/20267,755$23.7K<0.1%+67,755New–
NUAIWNew ERA Energy & Digital, Inc.*W EXP 12/10/20231,068$25.5K<0.1%+31,068NewHistory
OPENZOpendoor Technologies Inc.*W EXP 11/20/20272,936$29.1K<0.1%+72,936NewHistory
LANWFLanvin Group Holdings Ltd*W EXP 99/99/9991,917,304$30.2K<0.1%00.0%UnchangedHistory
GENGen Digital Inc.Stock1,116$30.3K<0.1%00.0%UnchangedHistory
OPENLOpendoor Technologies Inc.*W EXP 11/20/20260,600$31.5K<0.1%+60,600NewHistory
BZAIWBlaize Holdings, Inc.*W EXP 01/13/20384,427$33.8K<0.1%−35,173−29.4%ReducedHistory
CRMLWCritical Metals Corp.*W EXP 02/27/20215,022$41.0K<0.1%+15,022NewHistory
OPENWOpendoor Technologies Inc.*W EXP 11/20/20255,874$50.3K<0.1%+55,874NewHistory
GCT Semiconductor Hldg Inc36170N115*W EXP 03/01/202673,000$50.7K0.1%00.0%Unchanged–
Evolv Technologies HLDNGS IN30049H110*W EXP 03/10/202197,268$53.2K0.1%00.0%Unchanged–
NIOBWNiocorp Developments Ltd*W EXP 03/17/20229,581$55.0K0.1%−167,995−85.0%ReducedHistory
BGLWWBlue Gold Ltd*W EXP 04/01/203134,194$56.5K0.1%+106,923+392.1%AddedHistory
OPENOpendoor Technologies Inc.COM12,000$70.0K0.1%−6,227−34.2%ReducedHistory
Net Power Inc.64107A113*W EXP 06/08/202163,972$82.0K0.1%−47,216−22.4%Reduced–
Archer Aviation Inc.03945R110*W EXP 09/16/20281,329$93.1K0.1%+63,968+368.5%Added–
LiveWire Group, Inc.53838J113*W EXP 09/26/2021,522,201$95.3K0.1%00.0%Unchanged–
Bed Bath & Beyond Inc075896159*W EXP 10/07/202145,121$95.8K0.1%+145,121New–
AUROWAurora Innovation, Inc.EQUITY WRT538,267$121.2K0.1%−105,500−16.4%ReducedHistory
FCXFreeport-McMoran IncStock2,500$127.0K0.1%+2,500NewHistory
TMC the metals Co Inc.87261Y114*W EXP 09/09/202112,693$145.4K0.1%−81,423−41.9%Reduced–
PENNPENN Entertainment, Inc.COM10,000$147.5K0.1%−30,000−75.0%ReducedHistory
KDKRWKodiak AI, Inc.*W EXP 09/25/203101,015$154.6K0.2%+101,015NewHistory
SBETSharplink, Inc.COM NEW19,875$177.7K0.2%−32,125−61.8%ReducedHistory
HYIWestern Asset High Yield Opportunity Fund Inc.COM19,113$213.3K0.2%+19,113NewHistory
MSTRStrategy IncStock1,419$215.6K0.2%−583−29.1%ReducedHistory
CRCLCircle Internet Group, Inc.COM CL A2,928$232.2K0.2%+2,928NewHistory
CRWVCoreWeave, Inc.Stock3,292$235.7K0.2%−3,708−53.0%ReducedHistory
USOUnited States Oil Fund, LPUNITS3,528$244.0K0.2%+3,528NewHistory
GETYGetty Images Holdings, Inc.CL A COM185,000$247.9K0.2%+185,000NewHistory
BEBloom Energy CorpCOM CL A2,987$259.5K0.3%+2,987NewHistory
VWAVWVisionWave Holdings, Inc.COM221,898$259.6K0.3%+100,900+83.4%AddedHistory
BATRAAtlanta Braves Holdings, Inc.COM SER A6,191$263.1K0.3%−628−9.2%ReducedHistory
GENVRGen Digital Inc.COM62,410$282.1K0.3%00.0%UnchangedHistory
COINCoinbase Global, Inc.COM CL A1,252$283.1K0.3%−242−16.2%ReducedHistory
BBAIBigBear.ai Holdings, Inc.COM54,000$291.6K0.3%+54,000NewHistory
SSTKShutterstock, Inc.COM15,381$293.8K0.3%+15,381NewHistory
BLDRBuilders FirstSource, Inc.Stock3,000$308.7K0.3%−6,000−66.7%ReducedHistory
XZOExzeo Group, Inc.COM SHS13,519$327.8K0.3%+13,519NewHistory
CZRCaesars Entertainment, Inc.COM15,000$350.9K0.3%−45,000−75.0%ReducedHistory
CORZCore Scientific, Inc.COM25,000$364.0K0.4%+25,000NewHistory
CEPTCantor Equity Partners II, Inc.CL A ORD SHS35,000$394.1K0.4%+35,000NewHistory
KGCKinross Gold CorpCOM14,500$408.3K0.4%+14,500NewHistory
UNHUnitedHealth Group IncStock1,268$418.6K0.4%+1,268NewHistory
ETHAiShares Ethereum Trust ETFSHS18,672$418.8K0.4%−10,750−36.5%ReducedHistory
BATRKAtlanta Braves Holdings, Inc.COM SER C10,689$421.7K0.4%−3,500−24.7%ReducedHistory
WOLFWolfspeed, Inc.COMMON STOCK25,519$444.3K0.4%+25,519NewHistory
IQiQIYI, Inc.SPONSORED ADS231,424$444.3K0.4%+231,424NewHistory
SCHLScholastic CorpCOM15,000$444.4K0.4%+15,000NewHistory
SIRISirius XM Holdings Inc.COMMON STOCK22,500$449.9K0.4%−7,500−25.0%ReducedHistory
SPROSpero Therapeutics, Inc.COM195,939$456.5K0.5%−12,786−6.1%ReducedHistory
AMZNAmazon Com IncStock2,050$473.2K0.5%00.0%UnchangedHistory
UNFUnifirst CorpCOM2,500$482.3K0.5%+2,500NewHistory
CIFRCipher Digital Inc.COM33,200$490.0K0.5%−46,800−58.5%ReducedHistory
NFJVirtus Dividend, Interest & Premium Strategy FundCOM40,000$515.6K0.5%+40,000NewHistory
GLWCorning IncCOM6,000$525.4K0.5%00.0%UnchangedHistory
AVYAvery Dennison CorpCOM3,000$545.6K0.5%+3,000NewHistory
HYTBlackRock Corporate High Yield Fund, Inc.COM65,000$578.5K0.6%+65,000NewHistory
NAKNorthern Dynasty Minerals LtdCOM NEW309,000$608.7K0.6%−208,500−40.3%ReducedHistory
MANUManchester United plcORD CL A39,380$626.9K0.6%+5,200+15.2%AddedHistory
BXMXNuveen S&P 500 BuyWrite Income FundCOM42,861$630.1K0.6%+42,861NewHistory
BHFBrighthouse Financial, Inc.COM9,750$631.7K0.6%−1,250−11.4%ReducedHistory
AEMAgnico Eagle Mines LtdStock4,000$678.1K0.7%+4,000NewHistory
DBRGDigitalBridge Group, Inc.CL A NEW44,500$682.6K0.7%+44,500NewHistory
METAMeta Platforms, Inc.Stock1,075$709.6K0.7%−225−17.3%ReducedHistory
ALITAlight, Inc. / DelawareCOM CL A367,752$717.1K0.7%−200,000−35.2%ReducedHistory
HDRNHadron Energy, Inc.ORD SHS CL A70,000$737.8K0.7%+70,000NewHistory
TSLATesla, Inc.Stock1,650$742.0K0.7%00.0%UnchangedHistory
USALiberty All Star Equity FundSH BEN INT125,000$785.0K0.8%+125,000NewHistory
PLTRPalantir Technologies Inc.Stock5,282$938.9K0.9%00.0%UnchangedHistory
WBDWarner Bros. Discovery, Inc.Stock35,000$1.01M1.0%+35,000NewHistory
AVGOBroadcom Inc.Stock2,951$1.02M1.0%−76−2.5%ReducedHistory
AAPLApple Inc.Stock3,866$1.05M1.0%+318+9.0%AddedHistory
AMDAdvanced Micro Devices IncStock4,948$1.06M1.0%+808+19.5%AddedHistory
Crane HBR Acquisition CorpG24979109CL A100,000$1.08M1.1%+100,000New–
DIAXNuveen Dow 30sm Dynamic Overwrite FundSHS72,133$1.10M1.1%−274−0.4%ReducedHistory
Listed FDS Tr53656G498ROUN MA SEVE ETF17,762$1.17M1.2%00.0%Unchanged–
SOLSSolstice Advanced Materials Inc.COM SHS24,500$1.19M1.2%+24,500NewHistory
GBTGGlobal Business Travel Group, Inc.COM CL A158,007$1.21M1.2%−10,000−6.0%ReducedHistory
iShares Semiconductor ETF464287523ETF4,215$1.27M1.3%+1,030+32.3%Added–
BABAAlibaba Group Holding LtdADR8,994$1.32M1.3%−962−9.7%ReducedHistory
SNXTD Synnex CorpCOM9,100$1.37M1.4%00.0%UnchangedHistory
GTMZoomInfo Technologies Inc.Stock140,504$1.43M1.4%+119,310+562.9%AddedHistory
JHXJames Hardie Industries plcStock69,127$1.43M1.4%−22,500−24.6%ReducedHistory
NVDANVIDIA CorpStock7,791$1.45M1.4%−146−1.8%ReducedHistory
WIWWestern Asset Inflation-Linked Opportunities & Income FundCEF170,464$1.46M1.5%+14,224+9.1%AddedHistory
COHRCoherent Corp.COM8,000$1.48M1.5%−10,000−55.6%ReducedHistory
MSFTMicrosoft CorpStock3,100$1.50M1.5%+3,100NewHistory
CFLTConfluent, Inc.CLASS A COM55,000$1.66M1.6%+55,000NewHistory
MARA Holdings, Inc.565788AH9NOTE 6/0–$1.68M1.7%–New–

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