Marathon Trading Investment Management LLC Q4 2025 Filing
Filed February 13, 2026
Portfolio Value
$4.4B
Holdings
352
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (352 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | SLVISHARES SILVER TR | 18,242,100 | $1.2B | 26.64% | Call |
| 2 | SLVISHARES SILVER TR | 14,679,400 | $945.6M | 21.44% | Put |
| 3 | NVDANVIDIA CORPORATION | 799,700 | $149.1M | 3.38% | Put |
| 4 | NVDANVIDIA CORPORATION | 705,664 | $131.6M | 2.98% | |
| 5 | TSLATESLA INC | 292,200 | $131.4M | 2.98% | Put |
| 6 | GLDSPDR GOLD TR | 322,500 | $127.8M | 2.90% | Call |
| 7 | TSLATESLA INC | 281,100 | $126.4M | 2.87% | Call |
| 8 | IBITISHARES BITCOIN TRUST ETF | 1,686,100 | $83.7M | 1.90% | Put |
| 9 | AAPLAPPLE INC | 256,000 | $69.6M | 1.58% | Put |
| 10 | AAPLAPPLE INC | 246,481 | $67.0M | 1.52% | |
| 11 | SPYSPDR S&P 500 ETF TR | 86,612 | $59.1M | 1.34% | |
| 12 | AMZNAMAZON COM INC | 255,481 | $59.0M | 1.34% | |
| 13 | AMZNAMAZON COM INC | 251,400 | $58.0M | 1.32% | Put |
| 14 | GOOGLALPHABET INC | 180,000 | $56.5M | 1.28% | Put |
| 15 | GOOGALPHABET INC | 179,600 | $56.4M | 1.28% | |
| 16 | MIGASTRATEGY INC | 364,223 | $55.3M | 1.25% | |
| 17 | TSLATESLA INC | 108,518 | $48.8M | 1.11% | |
| 18 | IBITISHARES BITCOIN TRUST ETF | 925,400 | $45.9M | 1.04% | Call |
| 19 | GLDSPDR GOLD TR | 112,500 | $44.6M | 1.01% | Put |
| 20 | PLTRPALANTIR TECHNOLOGIES INC | 206,500 | $36.7M | 0.83% | Put |
| 21 | COINCOINBASE GLOBAL INC | 160,200 | $36.2M | 0.82% | Put |
| 22 | COINCOINBASE GLOBAL INC | 147,126 | $33.3M | 0.75% | |
| 23 | MSTRSTRATEGY INC | 199,000 | $30.2M | 0.69% | Put |
| 24 | MSFTMICROSOFT CORP | 62,058 | $30.0M | 0.68% | |
| 25 | MSFTMICROSOFT CORP | 61,300 | $29.6M | 0.67% | Put |
| 26 | PLTRPALANTIR TECHNOLOGIES INC | 156,987 | $27.9M | 0.63% | |
| 27 | SPYSPDR S&P 500 ETF TR | 40,400 | $27.5M | 0.62% | Put |
| 28 | JDJD.COM INC | 884,800 | $25.4M | 0.58% | Put |
| 29 | —META PLATFORMS INC | 31,700 | $20.9M | 0.47% | Call |
| 30 | METAMETA PLATFORMS INC | 31,000 | $20.5M | 0.46% | Put |
| 31 | METAMETA PLATFORMS INC | 30,775 | $20.3M | 0.46% | |
| 32 | BACBANK AMERICA CORP | 360,200 | $19.8M | 0.45% | Put |
| 33 | PDDPDD HOLDINGS INC | 173,000 | $19.6M | 0.44% | Put |
| 34 | GOOGLALPHABET INC | 60,100 | $18.8M | 0.43% | Put |
| 35 | —KRANESHARES TRUST | 520,100 | $17.7M | 0.40% | Call |
| 36 | GOOGLALPHABET INC | 55,916 | $17.5M | 0.40% | |
| 37 | JDJD.COM INC | 605,197 | $17.4M | 0.39% | |
| 38 | IRENIREN LIMITED | 454,140 | $17.2M | 0.39% | |
| 39 | AAPLAPPLE INC | 55,000 | $15.0M | 0.34% | Call |
| 40 | WBDWARNER BROS DISCOVERY INC | 506,839 | $14.6M | 0.33% | |
| 41 | —ALIBABA GROUP HLDG LTD | 95,000 | $13.9M | 0.32% | Put |
| 42 | GQ9SPDR GOLD TR | 34,812 | $13.8M | 0.31% | |
| 43 | MSTRSTRATEGY INC | 83,500 | $12.7M | 0.29% | Call |
| 44 | BEBLOOM ENERGY CORP | 145,350 | $12.6M | 0.29% | |
| 45 | IRENIREN LIMITED | 328,300 | $12.4M | 0.28% | Put |
| 46 | WBDWARNER BROS DISCOVERY INC | 420,900 | $12.1M | 0.27% | Call |
| 47 | GMEGAMESTOP CORP NEW | 422,300 | $8.5M | 0.19% | Put |
| 48 | IRENIREN LIMITED | 216,500 | $8.2M | 0.19% | Call |
| 49 | WBDWARNER BROS DISCOVERY INC | 281,200 | $8.1M | 0.18% | Put |
| 50 | STTSPDR S&P 500 ETF TR | 11,600 | $7.9M | 0.18% | Call |
| 51 | GOOGLALPHABET INC | 25,000 | $7.8M | 0.18% | Call |
| 52 | WOLFWOLFSPEED INC | 450,000 | $7.8M | 0.18% | Put |
| 53 | —SIRIUSXM HOLDINGS INC | 391,200 | $7.8M | 0.18% | Call |
| 54 | PDDPDD HOLDINGS INC | 62,986 | $7.1M | 0.16% | |
| 55 | RIVNRIVIAN AUTOMOTIVE INC | 353,100 | $7.0M | 0.16% | Put |
| 56 | SBETSHARPLINK GAMING INC | 771,150 | $6.9M | 0.16% | |
| 57 | —VANECK ETF TRUST | 76,900 | $6.8M | 0.16% | Put |
| 58 | PDDPDD HOLDINGS INC | 58,200 | $6.6M | 0.15% | Call |
| 59 | BABAALIBABA GROUP HLDG LTD | 44,694 | $6.5M | 0.15% | |
| 60 | NDQINVESCO QQQ TR | 9,561 | $5.9M | 0.13% | |
| 61 | WFCWELLS FARGO CO NEW | 59,667 | $5.6M | 0.13% | |
| 62 | —VANECK ETF TRUST | 61,000 | $5.5M | 0.12% | Call |
| 63 | INTCINTEL CORP | 147,600 | $5.4M | 0.12% | Put |
| 64 | KVUEKENVUE INC | 300,100 | $5.2M | 0.12% | Put |
| 65 | INTCINTEL CORP | 129,600 | $4.8M | 0.11% | Call |
| 66 | WFCWELLS FARGO CO NEW | 50,000 | $4.7M | 0.11% | Put |
| 67 | IBITISHARES BITCOIN TRUST ETF | 90,900 | $4.5M | 0.10% | |
| 68 | SMCISUPER MICRO COMPUTER INC | 150,000 | $4.4M | 0.10% | Put |
| 69 | —ALIBABA GROUP HLDG LTD | 27,500 | $4.0M | 0.09% | Call |
| 70 | CORZCORE SCIENTIFIC INC NEW | 272,800 | $4.0M | 0.09% | Call |
| 71 | INTCINTEL CORP | 103,514 | $3.8M | 0.09% | |
| 72 | PYPLPAYPAL HLDGS INC | 60,688 | $3.5M | 0.08% | |
| 73 | MUXMCEWEN INC. | 190,300 | $3.5M | 0.08% | |
| 74 | AMDADVANCED MICRO DEVICES INC | 16,100 | $3.4M | 0.08% | Call |
| 75 | COINCOINBASE GLOBAL INC | 15,000 | $3.4M | 0.08% | Call |
| 76 | —GAMESTOP CORP NEW | 159,000 | $3.2M | 0.07% | Call |
| 77 | —KRANESHARES TRUST | 91,600 | $3.1M | 0.07% | Put |
| 78 | BAC 7.25 PERP LBANK AMERICA CORP | 2,464 | $3.1M | 0.07% | |
| 79 | NVDANVIDIA CORPORATION | 16,100 | $3.0M | 0.07% | Call |
| 80 | KVUEKENVUE INC | 174,088 | $3.0M | 0.07% | |
| 81 | PYPLPAYPAL HLDGS INC | 51,300 | $3.0M | 0.07% | Put |
| 82 | CORZCORE SCIENTIFIC INC NEW | 205,373 | $3.0M | 0.07% | |
| 83 | MUMICRON TECHNOLOGY INC | 9,600 | $2.7M | 0.06% | Put |
| 84 | GEVGE VERNOVA INC | 4,000 | $2.6M | 0.06% | Put |
| 85 | CMGCHIPOTLE MEXICAN GRILL INC | 69,698 | $2.6M | 0.06% | |
| 86 | APLDAPPLIED DIGITAL CORP | 100,000 | $2.5M | 0.06% | |
| 87 | HIMSHIMS & HERS HEALTH INC | 75,000 | $2.4M | 0.06% | Put |
| 88 | AVGOBROADCOM INC | 6,963 | $2.4M | 0.05% | |
| 89 | —JD.COM INC | 79,300 | $2.3M | 0.05% | Call |
| 90 | RIVNRIVIAN AUTOMOTIVE INC | 110,997 | $2.2M | 0.05% | |
| 91 | OPENOPENDOOR TECHNOLOGIES INC | 373,800 | $2.2M | 0.05% | |
| 92 | LAESSEALSQ CORP | 570,300 | $2.2M | 0.05% | Call |
| 93 | COMPCOMPASS INC | 203,700 | $2.2M | 0.05% | Call |
| 94 | ETHAISHARES ETHEREUM TR | 93,000 | $2.1M | 0.05% | Put |
| 95 | —ISHARES ETHEREUM TR | 90,500 | $2.0M | 0.05% | Call |
| 96 | STUBSTUBHUB HLDGS INC | 150,000 | $2.0M | 0.05% | Call |
| 97 | NBISNEBIUS GROUP N.V. | 23,876 | $2.0M | 0.05% | |
| 98 | ARMARM HOLDINGS PLC | 18,000 | $2.0M | 0.04% | |
| 99 | —AMAZON COM INC | 8,500 | $2.0M | 0.04% | Call |
| 100 | MARAMARA HOLDINGS INC | 216,866 | $1.9M | 0.04% |
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