ADAPT Investment Managers SA In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), ADAPT Investment Managers SA reported 28 stock positions worth $475.4 million . Its top holding was Nvidia (NVDA) at 26.8% of the portfolio, followed by Broadcom (AVGO, 11.1% ) and Tesla (TSLA, 7.8% ). Compared with Q2 2025, it opened 17 new positions, sold out of 5, added to 7 and reduced 4. The biggest buy was a new position in Micron Technology (MU) and the biggest sale an exit from Apple (AAPL).
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CIK 0002029917
Portfolio Value $475.4M (Q3 2025) Holdings 28 stocks · $475.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 NVDA Nvidia Corp. 683,698 $127.6M Add +40.2% AVGO Broadcom Inc. 159,996 $52.8M Add +62.1% TSLA Tesla Inc. 83,166 $37.0M Add +94.8% META Meta Platforms Inc. Class A 46,616 $34.2M Add +93.1% MU Micron Technology Inc. 183,771 $30.7M New GOOG Alphabet Inc. Class C 100,000 $24.4M Add +20.5% TXN Texas Instruments Inc. 129,069 $23.7M New AMZN Amazon.com Inc. 92,450 $20.3M Reduce -20.9% MSFT Microsoft Corp. 35,600 $18.4M Reduce -45.7% TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 270,001 $13.2M Add +1007.3% INTU Intuit Inc. 18,413 $12.6M New HUBS HubSpot Inc. 26,726 $12.5M Add +87.8% AMD Advanced Micro Devices 70,630 $11.4M New SMH Vaneck Semiconductor ETF 34,434 $11.2M New XYZ Block Inc. 124,219 $9.0M Reduce -23.7% LOW Lowe's Cos Inc. 28,492 $7.2M New HD Home Depot Inc. 12,005 $4.9M New FCX Freeport-McMoran Inc. 114,453 $4.5M New TGT Target Corp. 49,812 $4.5M New NFLX Netflix Inc. 3,300 $4.0M New BAC Bank of America Corp. filed as BANK AMERICA CORP 66,982 $3.5M Reduce -53.2% KRE SS SPDR S&P Regional Bank 51,828 $3.3M New ADSK Autodesk Inc. 5,785 $1.8M New NKE Nike Inc. Class B 16,365 $1.1M New XOM Exxon Mobil Corp. 6,009 $678K New OKTA Okta Inc. 6,806 $624K New DLTR Dollar Tree Inc. 2,127 $201K New LLY Eli Lilly & Co. 199 $152K New
Options reported separately and not counted above: NVDA puts ($1.6B), TSLA puts ($1.3B), HYG puts ($649.5M), MSFT puts ($551.6M), AAPL puts ($547.5M), AMD puts ($465.1M), META puts ($337.8M), FXI puts ($329.1M), MU puts ($292.8M), AVGO puts ($288.7M), PLTR puts ($228.0M), COIN puts ($205.9M), and 84 more.
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ AAPL Apple Inc. Sold out 0.00% −8.68 GLD SPDR Gold Shares Sold out 0.00% −7.89 MSFT Microsoft Corp. Reduce -45.7% 3.88% −7.36 AMZN Amazon.com Inc. Reduce -20.9% 4.27% −4.56 JNJ Johnson & Johnson Sold out 0.00% −2.00 XYZ Block Inc. Reduce -23.7% 1.89% −1.92 BAC Bank of America Corp. Reduce -53.2% 0.73% −1.60 ANET Arista Networks Inc. Sold out 0.00% −0.07 PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.05
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ MU Micron Technology Inc. New 6.47% +6.47 TXN Texas Instruments Inc. New 4.99% +4.99 TSLA Tesla Inc. Add +94.8% 7.78% +3.11 INTU Intuit Inc. New 2.65% +2.65 AMD Advanced Micro Devices New 2.40% +2.40 SMH Vaneck Semiconductor ETF New 2.36% +2.36 TTD Trade Desk Inc./the Class A Add +1007.3% 2.78% +2.18 AVGO Broadcom Inc. Add +62.1% 11.10% +1.74 LOW Lowe's Cos Inc. New 1.51% +1.51 META Meta Platforms Inc. Class A Add +93.1% 7.20% +1.07 HD Home Depot Inc. New 1.02% +1.02 FCX Freeport-McMoran Inc. New 0.94% +0.94 TGT Target Corp. New 0.94% +0.94 NFLX Netflix Inc. New 0.83% +0.83 KRE SS SPDR S&P Regional Bank New 0.69% +0.69 ADSK Autodesk Inc. New 0.39% +0.39 NVDA Nvidia Corp. Add +40.2% 26.83% +0.30 NKE Nike Inc. Class B New 0.24% +0.24 XOM Exxon Mobil Corp. New 0.14% +0.14 OKTA Okta Inc. New 0.13% +0.13 GOOG Alphabet Inc. Class C Add +20.5% 5.12% +0.05 DLTR Dollar Tree Inc. New 0.04% +0.04 LLY Eli Lilly & Co. New 0.03% +0.03 HUBS HubSpot Inc. Add +87.8% 2.63% −0.10
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ NVDA Nvidia Corp. put Reduce -7.7% 8,580,000 $1.6B TSLA Tesla Inc. put Add +6.7% 2,880,000 $1.3B MSFT Microsoft Corp. put Add +83.6% 1,065,000 $551.6M AAPL Apple Inc. put Add +616.7% 2,150,000 $547.5M AMD Advanced Micro Devices put Reduce -12.9% 2,875,000 $465.1M FXI iShares China Large-Cap ETF put Add +220.0% 8,000,200 $329.1M MU Micron Technology Inc. put Add +34.6% 1,750,000 $292.8M AVGO Broadcom Inc. put Reduce -18.6% 875,000 $288.7M PLTR Palantir Technologies Inc. Class A put Reduce -10.7% 1,250,000 $228.0M COIN Coinbase Global Inc. Class A put Add +4.3% 610,000 $205.9M DELL Dell Technologies -C put Add +38.1% 1,450,000 $205.6M AMZN Amazon.com Inc. put Reduce -22.7% 850,000 $186.6M MRVL Marvell Technology Inc. put Add +320.0% 2,100,000 $176.5M AAPL Apple Inc. call Add +200.0% 450,000 $114.6M ZS Zscaler Inc. put Add +75.0% 350,000 $104.9M FXI iShares China Large-Cap ETF call Add +150.0% 2,500,000 $102.8M NFLX Netflix Inc. put Sold out 75,000 $100.4Mbefore exit ANET Arista Networks Inc. put Add +212.5% 625,000 $91.1M QCOM Qualcomm Inc. put Reduce -23.1% 500,000 $83.2M XOM Exxon Mobil Corp. put New 700,000 $78.9M MSFT Microsoft Corp. call Add +36.4% 150,000 $77.7M AVGO Broadcom Inc. call Add +350.0% 225,000 $74.2M ZS Zscaler Inc. call Add +100.0% 200,000 $59.9M ADBE Adobe Inc. put Sold out 150,000 $58.0Mbefore exit TXN Texas Instruments Inc. put Reduce -40.0% 300,000 $55.1M INTC Intel Corp. put Add +166.7% 1,600,200 $53.7M JNJ Johnson & Johnson call Sold out 350,000 $53.5Mbefore exit MRVL Marvell Technology Inc. call Add +200.0% 600,000 $50.4M MU Micron Technology Inc. call Reduce -33.3% 300,000 $50.2M ADBE Adobe Inc. call Sold out 125,000 $48.4Mbefore exit ADSK Autodesk Inc. put New 150,000 $47.7M C Citigroup Inc. put Add +50.0% 450,000 $45.7M XOM Exxon Mobil Corp. call New 400,600 $45.2M AMZN Amazon.com Inc. call Reduce -20.0% 200,000 $43.9M TSLA Tesla Inc. call Sold out 130,000 $41.3Mbefore exit PLTR Palantir Technologies Inc. Class A call Add +50.0% 225,000 $41.0M JNJ Johnson & Johnson put Sold out 250,000 $38.2Mbefore exit ANET Arista Networks Inc. call Add +150.0% 250,000 $36.4M BAC Bank of America Corp. call Sold out 750,000 $35.5Mbefore exit TTD Trade Desk Inc./the Class A call Add +183.3% 680,000 $33.3M QCOM Qualcomm Inc. call Reduce -42.9% 200,000 $33.3M AMD Advanced Micro Devices call Reduce -73.3% 200,000 $32.4M ADSK Autodesk Inc. call New 100,000 $31.8M BAC Bank of America Corp. put Reduce -70.7% 600,000 $31.0M HD Home Depot Inc. put New 75,000 $30.4M INTC Intel Corp. call Add +125.0% 900,000 $30.2M NVDA Nvidia Corp. call Reduce -35.9% 160,200 $29.9M LLY Eli Lilly & Co. put New 37,500 $28.6M KRE SS SPDR S&P Regional Bank put New 450,000 $28.5M AMGN Amgen Inc. call New 100,000 $28.2M
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Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 27 $441.2M NVDA, MSFT, SMH, AVGO, META Q1 2026 34 $294.4M AMZN, META, TXN, IBM, AMD Q4 2025 28 $494.7M MSFT, GLD, SMH, AMZN, AVGO Q3 2025 28 $475.4M NVDA, AVGO, TSLA, META, MU Q2 2025 16 $290.4M NVDA, MSFT, AVGO, AMZN, AAPL Q1 2025 17 $414.5M GOOG, AAPL, ADBE, FXI, NVDA Q4 2024 21 $215.8M AVGO, FXI, KRE, SMCI, UPS