Marathon Trading Investment Management LLC Q2 2025 Filing

Filed August 7, 2025

Portfolio Value

$836.5M

Holdings

271

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (271 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDR S&P 500 ETF TR	244,900	$151.3M	18.09%	Put
2	GLDSPDR GOLD TR	356,300	$108.6M	12.98%	Call
3	TLRYEURTILRAY BRANDS INC	251,800	$104.3M	12.47%
4	TSLATESLA INC	185,000	$58.8M	7.03%	Put
5	SPYSPDR S&P 500 ETF TR	79,631	$49.2M	5.88%
6	GLDSPDR GOLD TR	115,800	$35.3M	4.22%	Put
7	BACBANK AMERICA CORP	360,000	$17.0M	2.04%	Put
8	BACBANK AMERICA CORP	334,479	$15.8M	1.89%
9	NVDANVIDIA CORPORATION	89,600	$14.2M	1.69%	Put
10	MSTRMICROSTRATEGY INC	30,000	$12.1M	1.45%	Call
11	PDDPDD HOLDINGS INC	107,800	$11.3M	1.35%	Put
12	TSMTAIWAN SEMICONDUCTOR MFG LTD	48,800	$11.1M	1.32%	Put
13	STTSPDR S&P 500 ETF TR	16,500	$10.2M	1.22%	Call
14	PDYNWPALLADYNE AI CORP	25,337	$9.6M	1.15%
15	TLTISHARES TR	107,000	$9.4M	1.13%	Put
16	—SIRIUSXM HOLDINGS INC	391,200	$9.0M	1.07%	Call
17	MSTRMICROSTRATEGY INC	21,000	$8.5M	1.01%	Put
18	SLVISHARES SILVER TR	251,600	$8.3M	0.99%	Call
19	PDDPDD HOLDINGS INC	75,000	$7.8M	0.94%	Call
20	—ALIBABA GROUP HLDG LTD	67,800	$7.7M	0.92%	Call
21	WFCWELLS FARGO CO NEW	89,318	$7.2M	0.86%
22	COINCOINBASE GLOBAL INC	20,400	$7.1M	0.85%	Call
23	—AMAZON COM INC	30,600	$6.7M	0.80%	Call
24	JDJD.COM INC	200,000	$6.5M	0.78%	Put
25	IBITISHARES BITCOIN TRUST ETF	106,378	$6.5M	0.78%
26	—META PLATFORMS INC	8,800	$6.5M	0.78%	Call
27	BABAALIBABA GROUP HLDG LTD	54,400	$6.2M	0.74%	Put
28	PLTRPALANTIR TECHNOLOGIES INC	44,500	$6.1M	0.73%	Put
29	METAMETA PLATFORMS INC	8,000	$5.9M	0.71%	Put
30	TLTISHARES TR	63,469	$5.6M	0.67%
31	GOOGLALPHABET INC	31,000	$5.5M	0.65%	Put
32	IBITISHARES BITCOIN TRUST ETF	89,100	$5.5M	0.65%	Call
33	MIGAMICROSTRATEGY INC	13,366	$5.4M	0.65%
34	XLFISELECT SECTOR SPDR TR	100,500	$5.3M	0.63%	Put
35	GEGE AEROSPACE	19,800	$5.1M	0.61%	Put
36	AAPLAPPLE INC	23,800	$4.9M	0.58%	Put
37	—KRANESHARES TRUST	141,200	$4.8M	0.58%	Call
38	SLVISHARES SILVER TR	127,500	$4.2M	0.50%	Put
39	MSFTMICROSOFT CORP	8,400	$4.2M	0.50%	Put
40	WFCWELLS FARGO CO NEW	50,300	$4.0M	0.48%	Put
41	AMDADVANCED MICRO DEVICES INC	24,800	$3.5M	0.42%	Call
42	—KRANESHARES TRUST	101,200	$3.5M	0.42%	Put
43	KWEBKRANESHARES TRUST	99,118	$3.4M	0.41%
44	—BROADCOM INC	12,100	$3.3M	0.40%	Put
45	AAPLAPPLE INC	15,500	$3.2M	0.38%	Call
46	JDJD.COM INC	97,006	$3.2M	0.38%
47	DYHTARGET CORP	31,749	$3.1M	0.37%
48	MSFTMICROSOFT CORP	6,200	$3.1M	0.37%	Call
49	BABAALIBABA GROUP HLDG LTD	27,167	$3.1M	0.37%
50	MUMICRON TECHNOLOGY INC	24,700	$3.0M	0.36%	Put
51	VVISA INC	8,500	$3.0M	0.36%
52	ARKTARK ETF TR	42,600	$3.0M	0.36%	Put
53	BAC 7.25 PERP LBANK AMERICA CORP	2,464	$3.0M	0.36%
54	TGTTARGET CORP	30,000	$3.0M	0.35%	Call
55	UBERUBER TECHNOLOGIES INC	31,600	$2.9M	0.35%	Call
56	CRWVCOREWEAVE INC	17,757	$2.9M	0.35%
57	INTCINTEL CORP	124,981	$2.8M	0.33%
58	NFLXNETFLIX INC	2,000	$2.7M	0.32%	Call
59	GEVGE VERNOVA INC	5,000	$2.6M	0.32%	Put
60	MRKMERCK & CO INC	33,221	$2.6M	0.31%
61	AMZNAMAZON COM INC	11,400	$2.5M	0.30%	Put
62	NBISNEBIUS GROUP N.V.	45,000	$2.5M	0.30%	Call
63	MUMICRON TECHNOLOGY INC	20,100	$2.5M	0.30%	Call
64	COINCOINBASE GLOBAL INC	7,000	$2.5M	0.29%	Put
65	AQLTISHARES TR	30,000	$2.4M	0.29%	Put
66	CCITIGROUP INC	26,600	$2.3M	0.27%	Put
67	—VANECK ETF TRUST	8,000	$2.2M	0.27%	Call
68	AMDADVANCED MICRO DEVICES INC	15,100	$2.1M	0.26%	Put
69	—JD.COM INC	65,000	$2.1M	0.25%	Call
70	—COREWEAVE INC	13,000	$2.1M	0.25%	Call
71	TSLATESLA INC	6,594	$2.1M	0.25%
72	AAPLAPPLE INC	10,090	$2.1M	0.25%
73	AQLTISHARES TR	22,500	$2.0M	0.24%	Call
74	GMEGAMESTOP CORP NEW	81,333	$2.0M	0.24%
75	—VANECK ETF TRUST	11,700	$2.0M	0.24%	Put
76	UNHUNITEDHEALTH GROUP INC	6,223	$1.9M	0.23%
77	NVDANVIDIA CORPORATION	12,200	$1.9M	0.23%	Call
78	AMDADVANCED MICRO DEVICES INC	13,178	$1.9M	0.22%
79	IVPEFISHARES INC	25,000	$1.8M	0.21%	Call
80	UBERUBER TECHNOLOGIES INC	18,673	$1.7M	0.21%
81	SNOWSNOWFLAKE INC	7,500	$1.7M	0.20%	Put
82	LULULULULEMON ATHLETICA INC	7,000	$1.7M	0.20%
83	IWMISHARES TR	7,300	$1.6M	0.19%
84	TSMTAIWAN SEMICONDUCTOR MFG LTD	6,900	$1.6M	0.19%	Call
85	SBUXSTARBUCKS CORP	16,800	$1.5M	0.18%	Put
86	—GAMESTOP CORP NEW	60,500	$1.5M	0.18%	Call
87	UBERUBER TECHNOLOGIES INC	15,500	$1.4M	0.17%	Put
88	CRCLCIRCLE INTERNET GROUP INC	7,959	$1.4M	0.17%
89	METAMETA PLATFORMS INC	1,951	$1.4M	0.17%
90	AMZNAMAZON COM INC	6,558	$1.4M	0.17%
91	LYFTLYFT INC	90,000	$1.4M	0.17%	Put
92	SCHWSCHWAB CHARLES CORP	15,000	$1.4M	0.16%	Call
93	LVLNSPDR SERIES TRUST	21,412	$1.3M	0.15%
94	GDXVANECK ETF TRUST	23,575	$1.2M	0.15%
95	—UNITED STS OIL FD LP	16,500	$1.2M	0.14%	Call
96	CRCLCIRCLE INTERNET GROUP INC	6,600	$1.2M	0.14%	Put
97	—AMC ENTMT HLDGS INC	376,700	$1.2M	0.14%	Call
98	COCHWENVOY MEDICAL INC	32,888	$1.2M	0.14%
99	NKENIKE INC	16,155	$1.1M	0.14%
100	INTCINTEL CORP	50,800	$1.1M	0.14%	Put

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