Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (5 quarters reported)
$1.15B in Q4 2024 → $843M now. Hover for any quarter.
As reported for the quarter ended December 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| IB Ishares Bitcoin Trust ETF | 35.9% | Added 21% | 6,090,206 | $302M |
| A2 Ark 21shares Bitcoin ETF | 17.6% | Trimmed 3.3% | 5,117,500 | $149M |
| IB Ishares Bitcoin Trust ETF Put | 9.4% | New | 1,600,000 | $79.4M |
| IG Invesco Galaxy Bitcoin ETF | 7.5% | Unchanged | 725,000 | $63.2M |
| FI Forward Inds Inc N Y | 6.4% | Unchanged | 8,108,108 | $53.6M |
| Bullish | 2.8% | Unchanged | 625,000 | $23.7M |
| SA Ssga Active Tr | 2.8% | Trimmed 42% | 590,000 | $23.4M |
| AG Alibaba Group Hldg Ltd | 1.8% | New | 105,150 | $15.4M |
| Hyperliquid Strategies Inc | 1.8% | New | 4,260,476 | $15.2M |
| IE Ishares Ethereum Tr | 1.5% | Unchanged | 555,890 | $12.5M |
| Canaan Inc | 1.4% | New | 17,500,000 | $12.1M |
| Zoom Communications Inc Call | 1.0% | New | 100,000 | $8.63M |
| IG Invesco Galaxy Ethereum ETF | 1.0% | Unchanged | 290,000 | $8.58M |
| IE Invesco Exchange Traded Fd T | 0.7% | New | 31,040 | $5.95M |
| DE Dbx ETF Tr | 0.6% | Trimmed 54% | 157,750 | $5.18M |
| IS Ishares Silver Tr Put | 0.6% | New | 75,300 | $4.85M |
| SS Select Sector SPDR Tr Call | 0.6% | New | 30,300 | $4.7M |
| SH Stubhub Hldgs Inc | 0.5% | New | 331,708 | $4.49M |
| SS Select Sector SPDR Tr Call | 0.5% | New | 100,000 | $4.47M |
| Defi Technologies Inc | 0.4% | Trimmed 45% | 4,971,695 | $3.75M |
| IS Ishares Silver Tr Call | 0.4% | New | 57,500 | $3.7M |
| DE Dbx ETF Tr Call | 0.4% | New | 110,000 | $3.61M |
| TE Terrestrial Energy Inc | 0.4% | New | 500,000 | $3.06M |
| SG SPDR Gold Tr Call | 0.3% | New | 7,400 | $2.93M |
| IE Invesco Exchange Traded Fd T Call | 0.3% | New | 15,000 | $2.87M |
| IT Ishares Tr Call | 0.3% | New | 50,000 | $2.74M |
| SG SPDR Gold Tr | 0.3% | New | 6,700 | $2.66M |
| IT Ishares Tr | 0.3% | New | 22,500 | $2.38M |
| PF Procap Finl Inc | 0.3% | New | 625,000 | $2.21M |
| SS Select Sector SPDR Tr Call | 0.3% | New | 40,000 | $2.19M |
| I Ishares Inc Call | 0.2% | New | 65,000 | $2.07M |
| Futurecrest Acquisition Corp | 0.2% | Trimmed 43% | 200,000 | $2.05M |
| MI Mf Intl Ltd | 0.2% | New | 100,000 | $1.86M |
| KT Kraneshares Trust | 0.1% | Trimmed 30% | 33,200 | $1.13M |
| Nvidia Corporation | 0.1% | New | 5,600 | $1.04M |
| SS SPDR Series Trust | 0.1% | New | 8,500 | $1.04M |
| IT Ishares Tr | 0.1% | New | 5,000 | $993K |
| VI Vanguard Index Fds | 0.1% | New | 4,640 | $886K |
| Avax One Technology Ltd | 0.1% | New | 423,729 | $640K |
| GB Grayscale Bitcoin Trust ETF | 0.1% | Unchanged | 8,335 | $570K |
| SP Shift4 Pmts Inc | 0.1% | Unchanged | 8,902 | $561K |
| IT Ishares Tr | 0.1% | New | 2,200 | $551K |
| SS SPDR Series Trust | 0.1% | New | 4,500 | $463K |
| ND Northern Dynasty Minerals Lt Call | 0.0% | New | 150,000 | $405K |
| Bnb Plus Corp | 0.0% | New | 188,210 | $231K |
| K Wave Media Ltd | 0.0% | Unchanged | 400,000 | $164K |
| Bitcoin Depot Inc | 0.0% | New | 400,000 | $44.9K |
| Hcm Iii Acquisition Corp | 0.0% | New | 14,900 | $7.45K |
| 1rt Acquisition Corp. | 0.0% | New | 12,500 | $7.25K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 4 quarters.
quarter ended December 31, 2025 · filed March 24, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IQ Invesco Qqq Tr | Exited | −894,500 | −$537M | — |
| IB Ishares Bitcoin Trust ETF | Exited | −2,000,000 | −$130M | — |
| IB Ishares Bitcoin Trust ETF | New | +1,600,000 | +$79.4M | 9.4% |
| SS SPDR S&P 500 ETF Tr | Exited | −90,000 | −$60M | — |
| IB Ishares Bitcoin Trust ETF | Added | +1,065,965 | +$52.9M | 35.9% |
| Coinbase Global Inc | Exited | −153,100 | −$51.7M | — |
| IE Ishares Ethereum Tr | Exited | −1,500,000 | −$47.3M | — |
| Iren Limited | Exited | −645,000 | −$30.3M | — |
| CS Core Scientific Inc New | Exited | −1,555,000 | −$27.9M | — |
| SA Ssga Active Tr | Trimmed | −430,000 | −$17M | 2.8% |
Showing the 10 largest of 63 changes.
quarter ended September 30, 2025 · filed March 24, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IQ Invesco Qqq Tr | New | +894,500 | +$537M | 28.5% |
| FI Forward Inds Inc N Y | New | +8,108,108 | +$207M | 11.0% |
| IB Ishares Bitcoin Trust ETF | Exited | −3,200,000 | −$196M | — |
| IB Ishares Bitcoin Trust ETF | New | +2,000,000 | +$130M | 6.9% |
| SS SPDR S&P 500 ETF Tr | New | +90,000 | +$60M | 3.2% |
| Coinbase Global Inc | New | +153,100 | +$51.7M | 2.7% |
| IE Ishares Ethereum Tr | New | +1,500,000 | +$47.3M | 2.5% |
| Circle Internet Group Inc | Exited | −238,000 | −$43.1M | — |
| Bullish | New | +625,000 | +$39.8M | 2.1% |
| IT Ishares Tr | Exited | −1,000,000 | −$36.8M | — |
Showing the 10 largest of 46 changes.
quarter ended June 30, 2025 · filed March 24, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IB Ishares Bitcoin Trust ETF | New | +3,200,000 | +$196M | 19.2% |
| SS SPDR S&P 500 ETF Tr | Exited | −323,500 | −$181M | — |
| A2 Ark 21shares Bitcoin ETF | Added | +3,388,120 | +$121M | 18.6% |
| M Microstrategy Inc | Exited | −220,000 | −$63.4M | — |
| IB Ishares Bitcoin Trust ETF | Added | +763,610 | +$46.7M | 32.7% |
| Circle Internet Group Inc | New | +238,000 | +$43.1M | 4.2% |
| IT Ishares Tr | New | +1,000,000 | +$36.8M | 3.6% |
| SA Ssga Active Tr | New | +1,020,000 | +$34.3M | 3.4% |
| SG SPDR Gold Tr | New | +100,000 | +$30.5M | 3.0% |
| Coinbase Global Inc | Exited | −160,000 | −$27.6M | — |
Showing the 10 largest of 41 changes.
quarter ended March 31, 2025 · filed March 24, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −191,500 | −$107M | 22.5% |
| IQ Invesco Qqq Tr | Exited | −199,600 | −$102M | — |
| IB Ishares Bitcoin Trust ETF | Trimmed | −2,162,100 | −$101M | 27.2% |
| M Microstrategy Inc | Added | +177,500 | +$51.2M | 7.9% |
| SA Ssga Active Tr | Exited | −1,400,000 | −$44M | — |
| A2 Ark 21shares Bitcoin ETF | Trimmed | −529,290 | −$43.5M | 19.5% |
| Coinbase Global Inc | New | +160,000 | +$27.6M | 3.4% |
| VE Vaneck ETF Trust | New | +115,300 | +$24.4M | 3.0% |
| CS Core Scientific Inc New | New | +2,015,272 | +$14.6M | 1.8% |
| IB Ishares Bitcoin Trust ETF | Added | +200,000 | +$9.36M | 2.3% |
Showing the 10 largest of 27 changes.
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