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ICM

Ionic Capital Management Portfolio holdings

AUM $1.37B
1-Year Est. Return 48.26%
This Fund
S&P 500
This Quarter Est. Return
+7.74%
1 Year Est. Return
+48.26%
3 Year Est. Return
+102.88%
5 Year Est. Return
+263.79%
10 Year Est. Return
+1,986.54%
AUM
$786M
AUM Growth
-$173M
Cap. Flow
-$189M
Cap. Flow %
-24.1%
Top 10 Hldgs %
85.14%
Holding
189
New
56
Increased
16
Reduced
46
Closed
42

Top Buys

Rank Stock Value
1
VVR icon
Invesco Senior Income Trust
VVR
+$2.01M
2
MSFT icon
Microsoft
MSFT
+$1.55M
3
CFLT
Confluent
CFLT
+$1.35M
4
GTM
ZoomInfo Technologies
GTM
+$1.23M
5
SOLS
Solstice Advanced Materials
SOLS
+$1.15M

Top Sells

Rank Stock Value
1
CCCX
Churchill Capital Corp X
CCCX
+$1.61M
2
COHR icon
Coherent
COHR
+$1.5M
3
HPE icon
Hewlett Packard
HPE
+$1.4M
4
STRK
Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock
STRK
+$1.16M
5
TDS icon
Telephone and Data Systems
TDS
+$1.15M

Sector Composition

Rank Sector Weight
1 Technology 3.03%
2 Consumer Discretionary 2.12%
3 Materials 1.09%
4 Industrials 0.93%
5 Communication Services 0.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRMLW icon
126
Critical Metals Corp Warrants
CRMLW
$14.3M
$41K 0.01%
+15,022
New +$77.6K
BZAIW
127
Blaize Holdings Warrants
BZAIW
$8.15M
$33.8K ﹤0.01%
84,427
-35,173
-29% -$24.8K
OPENL
128
Opendoor Technologies Inc Series A Warrants
OPENL
$6.62M
$31.5K ﹤0.01%
+60,600
New +$51.8K
GEN icon
129
Gen Digital
GEN
$15.1B
$30.3K ﹤0.01%
1,116
– –
LANV.WS
130
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
$30.2K ﹤0.01%
1,917,304
– –
OPENZ
131
Opendoor Technologies Inc Series Z Warrants
OPENZ
$5.82M
$29.1K ﹤0.01%
+72,936
New +$44.1K
NUAIW
132
New Era Energy & Digital Inc Warrants
NUAIW
$15M
$25.5K ﹤0.01%
+31,068
New +$38.5K
ABVEW
133
DELISTED
Above Food Ingredients Inc Warrants
ABVEW
$23.7K ﹤0.01%
+67,755
New +$51.2K
SLND.WS icon
134
Southland Holdings Warrants
SLND.WS
$2.04M
$21.8K ﹤0.01%
253,240
-15,741
-6% -$2.71K
HPAIW
135
Helport AI Warrants
HPAIW
$377K
$13.2K ﹤0.01%
82,640
– –
KWMWW
136
K Wave Media Ltd
KWMWW
$116K
$12K ﹤0.01%
400,000
– –
GLXY
137
Galaxy Digital Inc
GLXY
$4.66B
$11.2K ﹤0.01%
+500
New +$15.5K
HDRNW
138
Hadron Energy Warrant
HDRNW
$2.84M
$9.86K ﹤0.01%
+24,038
New +$16.4K
BTMWW
139
DELISTED
Bitcoin Depot Inc Warrant
BTMWW
$7.31K ﹤0.01%
+65,132
New +$13.5K
BRLSW icon
140
Borealis Foods Inc Warrant
BRLSW
$802K
$3.51K ﹤0.01%
70,000
– –
RNWWW
141
ReNew Energy Global PLC Warrant
RNWWW
$48.2K
$1.42K ﹤0.01%
200,000
– –
VWAV
142
VisionWave Holdings
VWAV
$90.5M
$926 ﹤0.01%
+100
New +$1.04K
ETHU
143
2x Ether ETF
ETHU
$731M
$219 ﹤0.01%
4
– –
AMAT icon
144
PUT
Applied Materials
AMAT
$447B
– –
-4,700
Closed -$962K
AMCR icon
145
CALL
Amcor
AMCR
$19.7B
– –
-14,000
Closed -$573K
AMCR icon
146
Amcor
AMCR
$19.7B
– –
-24,160
Closed -$988K
ASML icon
147
PUT
ASML
ASML
$693B
– –
-800
Closed -$774K
ASTS icon
148
AST SpaceMobile
ASTS
$17.7B
– –
-5,005
Closed -$246K
AUR icon
149
Aurora
AUR
$11.7B
– –
-33,246
Closed -$179K
AUR icon
150
PUT
Aurora
AUR
$11.7B
– –
-200,000
Closed -$1.08M
4 5
6
7 8

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Ionic Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Ionic Capital Management held 189 positions worth $786M, down 18% from $958M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Ionic Capital Management withdrew a net $189M in Q4 2025, closing 42 positions and reducing 46 holdings. Its most notable exit was Churchill Capital Corp X, an estimated $1.61M position sold in full.

By sector, the portfolio is most concentrated in Technology at 3% of assets, up from 2.3% a quarter earlier, followed by Consumer Discretionary and Materials.

Against the trend, Ionic Capital Management opened a new position in Invesco Senior Income Trust worth $1.99M.

  • Ionic Capital Management's largest Q4 2025 buy was Invesco Senior Income Trust: 608,000 shares worth $1.99M.
  • Ionic Capital Management added most to ZoomInfo Technologies in Q4 2025, an estimated $1.23M increase.
  • Ionic Capital Management's biggest Q4 2025 reduction was Coherent, cutting an estimated $1.5M.
  • Ionic Capital Management fully exited Churchill Capital Corp X in Q4 2025, selling an estimated $1.61M.
  • Ionic Capital Management's ten largest holdings make up 85% of its $786M portfolio in Q4 2025.
  • Ionic Capital Management opened 56 new positions and closed 42 in Q4 2025.
  • Ionic Capital Management's portfolio value fell 18% quarter-over-quarter to $786M.

Based on Ionic Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.