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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
(-18%)
Cap. Flow
-$189M
Cap. Flow
% of AUM
-24.1%
Top 10 Holdings %
Top 10 Hldgs %
85.14%
Holding
189
New
56
Increased
16
Reduced
46
Closed
42
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco Senior Income Trust
VVR
|
+$2.01M |
| 2 |
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 |
Coherent
COHR
|
+$1.5M |
| 3 |
Hewlett Packard
HPE
|
+$1.4M |
| 4 |
STRK
Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock
STRK
|
+$1.16M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
176
PUT
Sibanye-Stillwater
SBSW
$5.97B
| – | – |
-100,000
| Closed | -$1.12M |
|
177
Super Micro Computer
SMCI
$20.2B
| – | – |
-16,551
| Closed | -$793K |
|
|
SMLR
178
CALL
DELISTED
Semler Scientific
SMLR
| – | – |
-11,500
| Closed | -$345K |
|
|
179
Telephone and Data Systems
TDS
$3.82B
| – | – |
-29,254
| Closed | -$1.15M |
|
180
CALL
Wolfspeed
WOLF
$1.34B
| – | – |
-50,000
| Closed | -$1.43M |
|
181
Lionsgate Studios
LION
$3.89B
| – | – |
-105,561
| Closed | -$728K |
|
|
MSTX
182
PUT
Defiance Daily Target 2x Long MSTR ETF
MSTX
$157M
| – | – |
-950
| Closed | -$203K |
|
|
GSRT
183
DELISTED
GSR III Acquisition Corp
GSRT
| – | – |
-50,000
| Closed | -$518K |
|
|
CRWV
184
CALL
CoreWeave
CRWV
$44.3B
| – | – |
-600
| Closed | -$82.1K |
|
|
CCCX
185
DELISTED
Churchill Capital Corp X
CCCX
| – | – |
-125,000
| Closed | -$1.61M |
|
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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.