BNP PARIBAS FINANCIAL MARKETS Q3 2025 Filing

Filed November 13, 2025

Portfolio Value

$187.3B

Holdings

4,746

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (4,746 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NVDANVIDIA Corp	24,270,780	$8.2B	4.40%	Put
2	IWMiShares Russell 2000 ETF	4,720,509	$7.3B	3.88%	Put
3	TSLATesla Inc	6,401,567	$6.4B	3.40%	Put
4	NDQNASDAQ 100 Index	1,222,915	$5.9B	3.13%	Put
5	MSFTMicrosoft Corp	7,342,607	$5.4B	2.89%	Put
6	AMZNAmazon.com Inc	11,881,509	$4.4B	2.33%	Put
7	AAPLApple Inc	11,737,298	$4.3B	2.28%	Put
8	METAMeta Platforms Inc	4,260,595	$4.1B	2.20%	Put
9	SPYSPDR S&P 500 ETF Trust	2,128,905	$4.1B	2.19%	Put
10	GOOGLAlphabet Inc	7,876,706	$3.4B	1.80%	Put
11	AVGOBroadcom Inc	5,930,677	$3.0B	1.61%	Put
12	JPMJPMorgan Chase & Co	6,117,607	$2.7B	1.45%	Put
13	AMDAdvanced Micro Devices Inc	5,596,637	$2.3B	1.21%	Put
14	IVViShares Core S&P 500 ETF	3,189,043	$2.1B	1.14%
15	GOOGAlphabet Inc	4,202,398	$1.8B	0.96%	Put
16	BACBank of America Corp	10,334,647	$1.3B	0.71%	Put
17	UNHUnitedHealth Group Inc	2,126,507	$1.3B	0.71%	Put
18	SMHVanEck Semiconductor ETF	1,464,142	$1.2B	0.64%	Put
19	EEMiShares MSCI Emerging Markets ETF	3,364,529	$1.2B	0.62%	Put
20	GEGeneral Electric Co	3,229,885	$1.1B	0.60%	Put
21	MUMicron Technology Inc	4,267,057	$1.1B	0.59%	Put
22	CSCOCisco Systems Inc	14,762,336	$1.1B	0.58%	Put
23	TRVCCitigroup Inc	3,851,519	$1.0B	0.55%	Put
24	XOMExxon Mobil Corp	5,928,124	$1.0B	0.54%	Put
25	NFLXNetflix Inc	603,646	$993.4M	0.53%	Put
26	AMATApplied Materials Inc	2,305,654	$919.4M	0.49%	Put
27	ABBVAbbVie Inc	3,005,086	$885.8M	0.47%	Put
28	ORCLOracle Corp	1,653,220	$884.0M	0.47%	Put
29	BRK/BBerkshire Hathaway Inc	1,296,177	$879.1M	0.47%	Put
30	VVisa Inc	2,260,734	$863.5M	0.46%	Put
31	XLKTechnology Select Sector SPDR Fund	1,211,673	$861.0M	0.46%	Put
32	DWDMorgan Stanley	3,287,644	$837.3M	0.45%	Put
33	CVXChevron Corp	3,492,346	$792.3M	0.42%	Put
34	PLTRPalantir Technologies Inc	2,985,825	$773.9M	0.41%	Put
35	PDDPDD Holdings Inc	5,050,502	$768.8M	0.41%	Put
36	QCOMQUALCOMM Inc	3,554,794	$768.0M	0.41%	Put
37	ADIAnalog Devices Inc	2,418,468	$735.9M	0.39%	Put
38	TXNTexas Instruments Inc	2,758,652	$716.2M	0.38%	Put
39	XLEEnergy Select Sector SPDR Fund	2,724,479	$702.2M	0.37%	Put
40	ADBEAdobe Inc	1,622,221	$695.5M	0.37%	Put
41	LLYEli Lilly & Co	479,695	$654.0M	0.35%	Put
42	LRCXLam Research Corp	2,727,545	$646.4M	0.35%	Put
43	GQ9SPDR Gold Shares	827,654	$643.8M	0.34%	Put
44	CRMSalesforce Inc	2,116,926	$640.6M	0.34%	Put
45	AXPAMERICAN EXPRESS COMPANY	1,317,281	$610.8M	0.33%	Put
46	FLUTFlutter Entertainment PLC	2,386,821	$606.3M	0.32%
47	WFCWells Fargo & Co	3,887,479	$604.7M	0.32%	Put
48	XBISPDR S&P Biotech ETF	5,965,336	$603.0M	0.32%	Put
49	TLTiShares 20 Year Treasury Bond ETF	830,977	$587.5M	0.31%	Put
50	HYGiShares iBoxx $ High Yield Corporate Bond ETF	6,040,248	$585.3M	0.31%	Put
51	TMUST-Mobile US Inc	2,135,645	$583.2M	0.31%	Put
52	JNJJohnson & Johnson	2,579,266	$578.6M	0.31%	Put
53	BABAAlibaba Group Holding Ltd	1,558,963	$573.2M	0.31%	Put
54	COSTCostco Wholesale Corp	531,138	$572.0M	0.31%	Put
55	GSGoldman Sachs Group Inc	441,279	$544.5M	0.29%	Put
56	INTCIntel Corp	10,668,845	$538.0M	0.29%	Put
57	XLFFinancial Select Sector SPDR Fund	691,940	$536.6M	0.29%	Put
58	XLIIndustrial Select Sector SPDR Fund	3,382,333	$521.7M	0.28%
59	UBERUber Technologies Inc	1,744,793	$515.2M	0.28%	Put
60	MRKMerck & Co Inc	5,734,334	$513.8M	0.27%	Put
61	BACVerizon Communications Inc	10,296,155	$506.4M	0.27%	Put
62	IBMInternational Business Machines Corp	1,393,794	$501.7M	0.27%	Put
63	DASHDoorDash Inc	856,626	$495.8M	0.26%	Put
64	PGRProgressive Corp	1,925,468	$491.5M	0.26%	Put
65	RSPInvesco S&P 500 Equal Weight ETF	2,506,899	$488.7M	0.26%	Put
66	MAMastercard Inc	780,131	$483.3M	0.26%	Put
67	COINCoinbase Global Inc	388,324	$479.2M	0.26%	Put
68	INTUIntuit Inc	626,927	$477.1M	0.25%	Put
69	GDXVanEck Gold Miners ETF USA	1,233,207	$468.9M	0.25%	Put
70	LINLinde PLC	884,763	$452.0M	0.24%	Put
71	BXBlackstone Inc	1,229,713	$447.5M	0.24%	Put
72	WDCWestern Digital Corp	1,695,741	$438.7M	0.23%	Put
73	XLVHealth Care Select Sector SPDR Fund	1,888,364	$438.4M	0.23%	Put
74	EFAiShares MSCI EAFE ETF	1,281,209	$431.6M	0.23%	Put
75	DISWalt Disney Co	1,943,316	$423.5M	0.23%	Put
76	FXIiShares China Large-Cap ETF	3,458,503	$416.6M	0.22%	Put
77	ABTAbbott Laboratories	2,598,695	$409.9M	0.22%	Put
78	HDHome Depot Inc	825,366	$409.8M	0.22%	Put
79	KLACKLA Corp	239,049	$401.2M	0.21%	Put
80	PFEPfizer Inc	9,720,546	$398.3M	0.21%	Put
81	WMTWalmart Inc	2,856,394	$397.3M	0.21%	Put
82	XLUUtilities Select Sector SPDR Fund	3,212,454	$393.6M	0.21%	Put
83	BABoeing Co	906,685	$392.7M	0.21%	Put
84	LULULululemon Athletica Inc	1,045,398	$391.1M	0.21%	Put
85	SESea Ltd	2,137,760	$385.8M	0.21%	Put
86	CMCSAComcast Corp	11,890,916	$382.7M	0.20%	Put
87	CATCaterpillar Inc	570,838	$375.7M	0.20%	Put
88	GEVGE Vernova Inc	599,251	$374.7M	0.20%	Put
89	CRWDCrowdstrike Holdings Inc	410,042	$373.9M	0.20%	Put
90	FCXFreeport-McMoRan Inc	6,465,932	$362.9M	0.19%	Put
91	ACNAccenture PLC	1,401,062	$360.4M	0.19%	Put
92	APPAppLovin Corp	483,705	$359.7M	0.19%	Put
93	CCLCarnival Corp	9,810,057	$358.4M	0.19%	Put
94	BKNGBooking Holdings Inc	52,362	$350.0M	0.19%	Put
95	TSMTaiwan Semiconductor Manufacturing Co Ltd	835,206	$347.0M	0.19%	Put
96	SMCISuper Micro Computer Inc	3,133,958	$344.8M	0.18%	Put
97	CICigna Group	822,961	$333.7M	0.18%	Put
98	NKENIKE Inc	2,798,639	$329.3M	0.18%	Put
99	SLViShares Silver Trust	4,170,081	$323.5M	0.17%	Put
100	ABNBAirbnb Inc	1,987,231	$323.1M	0.17%	Put

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