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MTIM

Marathon Trading Investment Management Portfolio holdings

AUM $3.67B
1-Year Est. Return 21.97%
This Fund
S&P 500
This Quarter Est. Return
-3.4%
1 Year Est. Return
+21.97%
3 Year Est. Return
+105.71%
5 Year Est. Return
+60.89%
10 Year Est. Return
+571.51%
AUM
$4.41B
AUM Growth
+$2.96B
Cap. Flow
+$2.56B
Cap. Flow %
58%
Top 10 Hldgs %
68.18%
Holding
413
New
107
Increased
118
Reduced
93
Closed
63

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$131M
2
MSTR icon
Strategy Inc
MSTR
+$81.9M
3
AAPL icon
Apple
AAPL
+$66.2M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$51.1M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$50.5M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$25.1M
2
BAC icon
Bank of America
BAC
+$16M
3
KWEB icon
KraneShares CSI China Internet ETF
KWEB
+$6.89M
4
CRWV
CoreWeave
CRWV
+$4.83M
5
TGT icon
Target
TGT
+$3.32M

Sector Composition

Rank Sector Weight
1 Technology 7.8%
2 Consumer Discretionary 3.49%
3 Communication Services 2.67%
4 Financials 1.73%
5 Industrials 0.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLV icon
1
CALL
iShares Silver Trust
SLV
$30.7B
$1.18B 26.64%
18,242,100
+12,981,000
+247% +$650M
SLV icon
2
PUT
iShares Silver Trust
SLV
$30.7B
$946M 21.44%
14,679,400
+9,939,400
+210% +$498M
NVDA icon
3
PUT
NVIDIA
NVDA
$5.42T
$149M 3.38%
799,700
+704,000
+736% +$131M
NVDA icon
4
NVIDIA
NVDA
$5.42T
$132M 2.98%
705,664
+701,519
+16,924% +$131M
TSLA icon
5
PUT
Tesla
TSLA
$1.3T
$131M 2.98%
292,200
+173,200
+146% +$76.8M
GLD icon
6
CALL
SPDR Gold Trust
GLD
$141B
$128M 2.9%
322,500
+132,500
+70% +$50.6M
TSLA icon
7
CALL
Tesla
TSLA
$1.3T
$126M 2.87%
281,100
+29,600
+12% +$13.1M
IBIT icon
8
PUT
iShares Bitcoin Trust
IBIT
$47.8B
$83.7M 1.9%
1,686,100
+1,637,000
+3,334% +$93M
AAPL icon
9
PUT
Apple
AAPL
$4.57T
$69.6M 1.58%
256,000
+239,500
+1,452% +$64.3M
AAPL icon
10
Apple
AAPL
$4.57T
$67M 1.52%
+246,481
New +$66.2M
SPY icon
11
State Street SPDR S&P 500 ETF Trust
SPY
$823B
$59.1M 1.34%
86,612
+74,737
+629% +$50.5M
AMZN icon
12
Amazon
AMZN
$2.96T
$59M 1.34%
255,481
+156,281
+158% +$35.8M
AMZN icon
13
PUT
Amazon
AMZN
$2.96T
$58M 1.32%
251,400
+140,200
+126% +$32.1M
GOOG icon
14
PUT
Alphabet (Google) Class C
GOOG
$4.32T
$56.5M 1.28%
+180,000
New +$51.6M
GOOG icon
15
Alphabet (Google) Class C
GOOG
$4.32T
$56.4M 1.28%
179,600
+178,500
+16,227% +$51.1M
MSTR icon
16
Strategy Inc
MSTR
$38.4B
$55.3M 1.25%
364,223
+355,843
+4,246% +$81.9M
TSLA icon
17
Tesla
TSLA
$1.3T
$48.8M 1.11%
+108,518
New +$48.1M
IBIT icon
18
CALL
iShares Bitcoin Trust
IBIT
$47.8B
$45.9M 1.04%
925,400
+733,700
+383% +$41.7M
GLD icon
19
PUT
SPDR Gold Trust
GLD
$141B
$44.6M 1.01%
112,500
+52,500
+88% +$20M
PLTR icon
20
PUT
Palantir
PLTR
$413B
$36.7M 0.83%
206,500
+132,700
+180% +$24M
COIN icon
21
PUT
Coinbase
COIN
$40.5B
$36.2M 0.82%
160,200
+156,200
+3,905% +$46.5M
COIN icon
22
Coinbase
COIN
$40.5B
$33.3M 0.75%
147,126
+146,805
+45,734% +$43.7M
MSTR icon
23
PUT
Strategy Inc
MSTR
$38.4B
$30.2M 0.69%
199,000
+173,000
+665% +$39.8M
MSFT icon
24
Microsoft
MSFT
$3.71T
$30M 0.68%
+62,058
New +$31.1M
MSFT icon
25
PUT
Microsoft
MSFT
$3.71T
$29.6M 0.67%
61,300
+59,700
+3,731% +$29.9M
1
2 3 4 5

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Marathon Trading Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Marathon Trading Investment Management held 413 positions worth $4.41B, up 204% from $1.45B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Marathon Trading Investment Management deployed $2.56B of net new capital in Q4 2025, opening 107 new positions and adding to 118 existing holdings. Its largest new stake was Apple: 246,481 shares worth $67M.

By sector, the portfolio is most concentrated in Technology at 7.8% of assets, up from 2.4% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was SPDR Gold Trust, an estimated $25.1M trimmed.

  • Marathon Trading Investment Management's largest Q4 2025 buy was Apple: 246,481 shares worth $67M.
  • Marathon Trading Investment Management added most to NVIDIA in Q4 2025, an estimated $131M increase.
  • Marathon Trading Investment Management's biggest Q4 2025 reduction was SPDR Gold Trust, cutting an estimated $25.1M.
  • Marathon Trading Investment Management fully exited State Street Materials Select Sector SPDR ETF in Q4 2025, selling an estimated $1.59M.
  • Marathon Trading Investment Management's ten largest holdings make up 68% of its $4.41B portfolio in Q4 2025.
  • Marathon Trading Investment Management opened 107 new positions and closed 63 in Q4 2025.
  • Marathon Trading Investment Management's portfolio value rose 204% quarter-over-quarter to $4.41B.

Based on Marathon Trading Investment Management's 13F filing for Q4 2025, filed 13 Feb 2026.