LMR Partners LLP Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$53.1B

Holdings

1,072

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (1,072 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	GQ9SPDR GOLD TR	79,402,950	$31.5B	59.21%	Put
2	EEMISHARES TR	20,000,000	$1.1B	2.06%	Call
3	NVDANVIDIA CORPORATION	5,288,900	$980.0M	1.84%	Put
4	IVVISHARES TR	1,040,000	$712.0M	1.34%
5	MIGASTRATEGY INC	4,543,852	$685.0M	1.29%	Put
6	COINCOINBASE GLOBAL INC	2,197,495	$493.0M	0.93%	Put
7	SATS 3.875 11/30/30ECHOSTAR CORP	128,258,686	$426.0M	0.80%
8	GMEGAMESTOP CORP NEW	19,248,346	$383.0M	0.72%	Put
9	TSLATESLA INC	832,654	$370.0M	0.70%	Put
10	SLVISHARES SILVER TR	5,198,200	$333.0M	0.63%	Put
11	PDDPDD HOLDINGS INC	2,918,847	$326.0M	0.61%	Put
12	IBITISHARES BITCOIN TRUST ETF	6,543,600	$322.0M	0.61%	Put
13	AMZNAMAZON COM INC	1,242,597	$282.0M	0.53%	Put
14	METAMETA PLATFORMS INC	389,804	$254.0M	0.48%	Put
15	TLTISHARES TR	2,937,200	$254.0M	0.48%	Put
16	FSLRFIRST SOLAR INC	960,454	$248.0M	0.47%	Put
17	BABA 0.5 06/01/31ALIBABA GROUP HLDG LTD	157,100,000	$243.0M	0.46%
18	WBDWARNER BROS DISCOVERY INC	8,563,673	$243.0M	0.46%	Put
19	RIVNRIVIAN AUTOMOTIVE INC	11,677,957	$228.0M	0.43%	Put
20	BABAALIBABA GROUP HLDG LTD	1,559,721	$221.0M	0.42%	Put
21	SATSECHOSTAR CORP	2,033,845	$217.0M	0.41%	Put
22	SPYSPDR S&P 500 ETF TR	317,406	$215.0M	0.40%	Put
23	AVGOBROADCOM INC	620,838	$211.0M	0.40%	Put
24	MUBISHARES TR	1,838,200	$196.0M	0.37%	Call
25	GOOGLALPHABET INC	598,003	$184.0M	0.35%	Put
26	ORCLORACLE CORP	865,223	$167.0M	0.31%	Put
27	MSFTMICROSOFT CORP	345,700	$163.0M	0.31%	Put
28	UNHUNITEDHEALTH GROUP INC	490,300	$158.0M	0.30%	Put
29	IWMISHARES TR	645,169	$157.0M	0.30%	Put
30	NDQINVESCO QQQ TR	255,609	$157.0M	0.30%
31	AAPLAPPLE INC	557,013	$148.0M	0.28%	Put
32	AZNASTRAZENECA PLC	1,516,498	$138.0M	0.26%	Put
33	CYBRCYBERARK SOFTWARE LTD	309,457	$137.0M	0.26%
34	MSTR 2.25 06/15/32STRATEGY INC	123,000,000	$135.0M	0.25%
35	BPBP PLC	3,958,572	$135.0M	0.25%	Put
36	TSMTAIWAN SEMICONDUCTOR MFG LTD	446,297	$132.0M	0.25%	Put
37	FCXFREEPORT-MCMORAN INC	2,596,600	$130.0M	0.24%	Put
38	NVSNNOVARTIS AG	952,500	$129.0M	0.24%	Put
39	EXASEXACT SCIENCES CORP	1,244,840	$125.0M	0.24%	Call
40	RIVN 4.625 03/15/29RIVIAN AUTOMOTIVE INC	100,000,000	$124.0M	0.23%
41	CIFR 1.75 05/15/30CIPHER MINING INC	33,500,000	$116.0M	0.22%
42	NIONIO INC	22,578,202	$114.0M	0.21%	Put
43	WDCWESTERN DIGITAL CORP	633,942	$108.0M	0.20%	Put
44	CRWVCOREWEAVE INC	1,451,494	$100.0M	0.19%	Put
45	MUMICRON TECHNOLOGY INC	358,047	$100.0M	0.19%	Put
46	GDXVANECK ETF TRUST	1,185,733	$99.0M	0.19%	Put
47	SOXXISHARES TR	327,932	$98.0M	0.18%	Put
48	XBISPDR SERIES TRUST	798,647	$96.0M	0.18%	Put
49	CUCAAVIS BUDGET GROUP	753,383	$95.0M	0.18%	Put
50	MARAMARA HOLDINGS INC	10,761,600	$95.0M	0.18%	Put
51	MDBMONGODB INC	226,900	$93.0M	0.18%	Put
52	HYGISHARES TR	1,126,200	$90.0M	0.17%	Put
53	WWAYFAIR INC	39,500,000	$90.0M	0.17%
54	NSCNORFOLK SOUTHN CORP	308,080	$88.0M	0.17%
55	SOFISOFI TECHNOLOGIES INC	3,296,400	$85.0M	0.16%	Put
56	ETHAISHARES ETHEREUM TR	3,672,800	$81.0M	0.15%	Put
57	IBNICICI BANK LIMITED	2,666,414	$79.0M	0.15%
58	SNDKSANDISK CORP	341,016	$78.0M	0.15%	Put
59	SMCISUPER MICRO COMPUTER INC	2,651,300	$76.0M	0.14%	Put
60	CYTK 4 11/15/26CYTOKINETICS INC	12,500,000	$75.0M	0.14%
61	MSTR 0.625 09/15/28STRATEGY INC	65,000,000	$74.0M	0.14%
62	SOXLDIREXION SHS ETF TR	1,750,000	$73.0M	0.14%	Put
63	UBERUBER TECHNOLOGIES INC	926,600	$73.0M	0.14%	Put
64	FBTCFIDELITY WISE ORIGIN BITCOIN	958,200	$73.0M	0.14%	Put
65	KVUEKENVUE INC	4,276,784	$72.0M	0.14%	Call
66	NFLXNETFLIX INC	805,054	$71.0M	0.13%	Put
67	MSTR 0 12/01/29STRATEGY INC	87,500,000	$71.0M	0.13%
68	TTWOTAKE-TWO INTERACTIVE SOFTWAR	284,703	$70.0M	0.13%	Put
69	IM8NINSMED INC	412,910	$70.0M	0.13%	Put
70	CLSCELESTICA INC	232,500	$68.0M	0.13%
71	MTSI 0.25 03/15/26MACOM TECH SOLUTIONS HLDGS I	32,000,000	$66.0M	0.12%
72	ARGXARGENX SE	77,806	$65.0M	0.12%	Call
73	NBISNEBIUS GROUP N.V.	773,090	$64.0M	0.12%	Put
74	CIENCIENA CORP	272,000	$63.0M	0.12%
75	CHTRCHARTER COMMUNICATIONS INC N	305,076	$62.0M	0.12%	Put
76	MSTR 0.875 03/15/31STRATEGY INC	60,500,000	$61.0M	0.11%
77	INTCINTEL CORP	1,667,412	$59.0M	0.11%	Put
78	CORZWCORE SCIENTIFIC INC NEW	6,987,579	$58.0M	0.11%
79	GOOGALPHABET INC	191,363	$58.0M	0.11%	Put
80	NKENIKE INC	908,903	$57.0M	0.11%	Put
81	GTLSCHART INDS INC	274,370	$56.0M	0.11%
82	PCG 4.25 12/01/27PG&E CORP	55,000,000	$56.0M	0.11%
83	GEGE AEROSPACE	183,024	$54.0M	0.10%	Put
84	HALO 1 08/15/28HALOZYME THERAPEUTICS INC	40,508,000	$53.0M	0.10%
85	AXTAAXALTA COATING SYS LTD	1,624,000	$52.0M	0.10%
86	BSXBOSTON SCIENTIFIC CORP	556,527	$51.0M	0.10%	Put
87	WMTWALMART INC	464,100	$51.0M	0.10%	Put
88	SNPSSYNOPSYS INC	107,300	$49.0M	0.09%	Put
89	TCOM 0.75 06/15/29TRIP COM GROUP LTD	40,000,000	$49.0M	0.09%
90	NVONOVO-NORDISK A S	987,800	$49.0M	0.09%	Put
91	BTU 3.25 03/01/28PEABODY ENGR CORP	29,000,000	$48.0M	0.09%
92	ZMZOOM COMMUNICATIONS INC	585,701	$48.0M	0.09%	Put
93	INTUINTUIT	75,406	$48.0M	0.09%	Put
94	AZOAUTOZONE INC	13,908	$46.0M	0.09%	Call
95	NIO 3.875 10/15/29NIO INC	47,500,000	$45.0M	0.08%
96	CSCOCISCO SYS INC	593,213	$44.0M	0.08%	Put
97	IONS 1.75 06/15/28IONIS PHARMACEUTICALS INC	27,300,000	$43.0M	0.08%
98	SNOWSNOWFLAKE INC	215,500	$42.0M	0.08%	Put
99	UNIT 7.5 12/01/27UNITI GROUP LLC	40,000,000	$42.0M	0.08%
100	RNAAVIDITY BIOSCIENCES INC	598,525	$42.0M	0.08%

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