CMT Capital Markets Trading GmbH
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 20, 2026), CMT Capital Markets Trading GmbH reported 84 stock positions worth $151.1 million. Its top holding was Starbucks (SBUX) at 12.5% of the portfolio, followed by PDD (PDD, 4.8%) and Alibaba Group Holding-SP ADR (BABA, 4.2%). Compared with Q3 2025, it opened 23 new positions, sold out of 22, added to 22 and reduced 39. The biggest buy was Starbucks (SBUX, shares +14%) and the biggest sale Shopify Class A (SHOP, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001632813
- Portfolio Value
- $151.1M (Q4 2025)
- SEC Filing
- 0001632813-26-000004 ↗ filed Feb 20, 2026
Holdings Value
Holdings 84 stocks · $151.1M
| SBUX Starbucks Corp. | 12.46% | 223,500 | $18.8M | Add +14.0% |
| PDD PDD Holdings Inc. | 4.77% | 63,508 | $7.2M | Add +6.0% |
| BABA Alibaba Group Holding-SP ADR | 4.24% | 43,725 | $6.4M | Reduce -15.9% |
| EA Electronic Arts Inc. | 3.58% | 26,500 | $5.4M | Add +6.0% |
| GOOGL Alphabet Inc. Class A | 2.86% | 13,783 | $4.3M | Reduce -14.4% |
| WFC Wells Fargo & Co. | 2.84% | 46,000 | $4.3M | Reduce -22.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.73% | 36,195 | $4.1M | Reduce -52.3% |
| TSLA Tesla Inc. | 2.60% | 8,747 | $3.9M | New |
| AAL American Airlines Group Inc. | 2.60% | 255,750 | $3.9M | Add +120.7% |
| GS Goldman Sachs Group Inc. | 2.24% | 3,850 | $3.4M | Reduce -83.4% |
| AVGO Broadcom Inc. | 2.18% | 9,523 | $3.3M | Add +87.9% |
| C Citigroup Inc. | 2.12% | 27,500 | $3.2M | Reduce -85.5% |
| CAT Caterpillar Inc. | 2.11% | 5,562 | $3.2M | Reduce -22.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.10% | 62,226 | $3.2M | Add +5.0% |
| EWZ iShares MSCI Brazil ETF | 2.06% | 97,800 | $3.1M | Reduce -49.5% |
| MU Micron Technology Inc. | 1.92% | 10,182 | $2.9M | Reduce -75.4% |
| SNAP Snap Inc. Class A | 1.82% | 340,078 | $2.7M | Reduce -3.6% |
| MDB Mongodb Inc. | 1.74% | 6,281 | $2.6M | Reduce -73.2% |
| AAPL Apple Inc. | 1.60% | 8,887 | $2.4M | Reduce -8.8% |
| STX Seagate Technology Holdings | 1.52% | 8,319 | $2.3M | New |
| NIO Nio Inc. - ADR | 1.39% | 412,959 | $2.1M | New |
| GDX Vaneck Gold Miners ETF | 1.39% | 24,446 | $2.1M | Add +286.4% |
| LYFT LYFT Inc. Class A | 1.38% | 107,354 | $2.1M | Add +96.0% |
| SPOT Spotify Technology SA | 1.38% | 3,578 | $2.1M | New |
| MSFT Microsoft Corp. | 1.36% | 4,260 | $2.1M | Reduce -76.7% |
| PYPL PayPal Holdings Inc. | 1.33% | 34,535 | $2.0M | Add +554.0% |
| UBER Uber Technologies Inc. | 1.32% | 24,451 | $2.0M | Reduce -57.5% |
| LI Li Auto Inc. - ADR | 1.28% | 113,830 | $1.9M | Add +200.5% |
| MRVL Marvell Technology Inc. | 1.20% | 21,271 | $1.8M | Add +114.0% |
| META Meta Platforms Inc. Class A | 1.14% | 2,604 | $1.7M | New |
| SHOP Shopify Inc. Class A | 1.09% | 10,276 | $1.7M | Reduce -91.9% |
| PFE Pfizer Inc. | 1.06% | 64,100 | $1.6M | Add +364.5% |
| ADBE Adobe Inc. | 1.05% | 4,534 | $1.6M | Add +9.7% |
| GLD SPDR Gold Shares | 1.02% | 3,900 | $1.5M | Reduce -84.8% |
| NVDA Nvidia Corp. | 1.01% | 8,166 | $1.5M | Add +321.1% |
| WDC Western Digital Corp. | 0.92% | 8,033 | $1.4M | New |
| AXP American Express Co. | 0.88% | 3,600 | $1.3M | Reduce -8.3% |
| BILI Bilibili Inc.-Sponsored ADR | 0.87% | 53,203 | $1.3M | Reduce -23.9% |
| CSCO Cisco Systems Inc. | 0.82% | 16,003 | $1.2M | New |
| NFLX Netflix Inc. | 0.80% | 12,930 | $1.2M | Add +216.1% |
| INTC Intel Corp. | 0.74% | 30,418 | $1.1M | New |
| TEVA Teva Pharmaceutical-SP ADR | 0.71% | 34,600 | $1.1M | Reduce -45.7% |
| CMG Chipotle Mexican Grill Inc. | 0.69% | 28,375 | $1.1M | Add +241.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.68% | 1,681 | $1.0M | Reduce -61.7% |
| COIN Coinbase Global Inc. Class A | 0.68% | 4,538 | $1.0M | Add +40.7% |
| KLAC KLA Corp. | 0.68% | 844 | $1.0M | Add +68.1% |
| AMZN Amazon.com Inc. | 0.66% | 4,335 | $1.0M | New |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.66% | 6,029 | $990K | Add +107.1% |
| AMD Advanced Micro Devices | 0.64% | 4,502 | $964K | Reduce -73.7% |
| CCL Carnival Corp. | 0.54% | 26,954 | $823K | Reduce -2.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.54% | 1,200 | $818K | Reduce -45.5% |
| LVS Las Vegas Sands Corp. | 0.54% | 12,500 | $814K | Reduce -22.1% |
| QCOM Qualcomm Inc. | 0.52% | 4,635 | $793K | New |
| TSM Taiwan Semiconductor-SP ADR | 0.50% | 2,505 | $761K | New |
| LULU Lululemon Athletica Inc. | 0.48% | 3,491 | $725K | Reduce -22.0% |
| ABNB Airbnb Inc. Class A | 0.45% | 5,032 | $683K | Reduce -37.0% |
| VALE Vale SA-SP ADR | 0.45% | 52,062 | $678K | Reduce -83.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.43% | 2,200 | $652K | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.42% | 40,007 | $631K | Add +35.2% |
| RGLD Royal Gold Inc. | 0.41% | 2,775 | $617K | Reduce -20.4% |
| HIMS Hims & Hers Health Inc. | 0.40% | 18,500 | $601K | New |
| JD Jd.com Inc.-ADR | 0.39% | 20,350 | $584K | Reduce -69.8% |
| UAL United Airlines Holdings Inc. | 0.37% | 4,944 | $553K | New |
| UPS United Parcel Service Class B | 0.34% | 5,185 | $514K | Add +95.8% |
| AMAT Applied Materials Inc. | 0.31% | 1,849 | $475K | New |
| ASML ASML Holding NV-NY Reg SHS | 0.30% | 422 | $451K | Reduce -71.4% |
| BIDU Baidu Inc. - Spon ADR | 0.27% | 3,172 | $414K | New |
| XYZ Block Inc. | 0.27% | 6,300 | $410K | Add +19.8% |
| FIVE Five Below | 0.27% | 2,164 | $408K | New |
| CRM Salesforce Inc. | 0.27% | 1,533 | $406K | Reduce -72.1% |
| CAR Avis Budget Group Inc. | 0.25% | 2,937 | $377K | New |
| XPEV Xpeng Inc. - ADR | 0.25% | 18,604 | $377K | Reduce -5.1% |
| PBR Petroleo Brasileiro-Spon ADR | 0.25% | 31,702 | $376K | Reduce -79.1% |
| WMT Walmart Inc. | 0.24% | 3,200 | $357K | Reduce -93.8% |
| ADSK Autodesk Inc. | 0.22% | 1,100 | $326K | Reduce -35.8% |
| NKE Nike Inc. Class B | 0.19% | 4,486 | $286K | Reduce -45.4% |
| FDX FedEx Corp. | 0.18% | 956 | $276K | New |
| FXI iShares China Large-Cap ETF | 0.17% | 6,800 | $260K | Reduce -78.3% |
| SNPS Synopsys Inc. | 0.15% | 491 | $231K | Reduce -91.7% |
| CHRW C.H. Robinson Worldwide Inc. | 0.15% | 1,426 | $229K | New |
| PLTR Palantir Technologies Inc. Class A | 0.15% | 1,279 | $227K | Reduce -90.7% |
| LRCX Lam Research Corp. | 0.15% | 1,320 | $226K | New |
| CVNA Carvana Co. | 0.14% | 510 | $215K | New |
| AI C3.AI Inc. Class A | 0.13% | 14,237 | $192K | New |
Options reported separately and not counted above: GOLDMAN SACHS GROUP INC puts ($1.3B), ADOBE INC puts ($740.7M), ALPHABET INC puts ($398.8M), META PLATFORMS INC calls ($354.9M), ALPHABET INC calls ($311.1M), APPLE INC calls ($306.0M), MICROSOFT CORP puts ($290.3M), META PLATFORMS INC puts ($282.3M), VANECK ETF TRUST puts ($278.5M), CITIGROUP INC calls ($274.5M), MICROSOFT CORP calls ($259.0M), TESLA INC puts ($252.0M), and 260 more.
Portfolio Sells Q3 2025 → Q4 2025
| SHOP Shopify Inc. Class A | Reduce -91.9% | 1.09% | −6.76 |
| C Citigroup Inc. | Reduce -85.5% | 2.12% | −5.88 |
| GS Goldman Sachs Group Inc. | Reduce -83.4% | 2.24% | −5.43 |
| GLD SPDR Gold Shares | Reduce -84.8% | 1.02% | −2.76 |
| MSFT Microsoft Corp. | Reduce -76.7% | 1.36% | −2.57 |
| WMT Walmart Inc. | Reduce -93.8% | 0.24% | −1.96 |
| ORCL Oracle Corp. | Sold out | 0.00% | −1.84 |
| TGT Target Corp. | Sold out | 0.00% | −1.53 |
| MDB Mongodb Inc. | Reduce -73.2% | 1.74% | −1.28 |
| SNPS Synopsys Inc. | Reduce -91.7% | 0.15% | −1.05 |
| UBER Uber Technologies Inc. | Reduce -57.5% | 1.32% | −1.02 |
| VALE Vale SA-SP ADR | Reduce -83.4% | 0.45% | −0.97 |
| MU Micron Technology Inc. | Reduce -75.4% | 1.92% | −0.95 |
| PLTR Palantir Technologies Inc. Class A | Reduce -90.7% | 0.15% | −0.89 |
| DIS The Walt Disney Co. | Reduce -52.3% | 2.73% | −0.88 |
| JD Jd.com Inc.-ADR | Reduce -69.8% | 0.39% | −0.59 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.59 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -79.1% | 0.25% | −0.55 |
| AMD Advanced Micro Devices | Reduce -73.7% | 0.64% | −0.51 |
| RBLX Roblox Corp. Class A | Sold out | 0.00% | −0.51 |
| EWZ iShares MSCI Brazil ETF | Reduce -49.5% | 2.06% | −0.44 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -61.7% | 0.68% | −0.41 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −0.39 |
| FXI iShares China Large-Cap ETF | Reduce -78.3% | 0.17% | −0.36 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.36 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.35 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.31 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -71.4% | 0.30% | −0.30 |
| CRM Salesforce Inc. | Reduce -72.1% | 0.27% | −0.27 |
| MS Morgan Stanley | Sold out | 0.00% | −0.24 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.21 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.20 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.19 |
| IBKR Interactive Brokers Gro Class A | Sold out | 0.00% | −0.14 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.11 |
| VST Vistra Corp. | Sold out | 0.00% | −0.11 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.11 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.10 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.09 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −0.09 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −0.09 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.09 |
| F Ford Motor Co. | Sold out | 0.00% | −0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -45.5% | 0.54% | −0.07 |
| NKE Nike Inc. Class B | Reduce -45.4% | 0.19% | −0.05 |
| ADSK Autodesk Inc. | Reduce -35.8% | 0.22% | −0.01 |
| ABNB Airbnb Inc. Class A | Reduce -37.0% | 0.45% | +0.05 |
| BILI Bilibili Inc.-Sponsored ADR | Reduce -23.9% | 0.87% | +0.05 |
| XPEV Xpeng Inc. - ADR | Reduce -5.1% | 0.25% | +0.06 |
| RGLD Royal Gold Inc. | Reduce -20.4% | 0.41% | +0.12 |
Portfolio Buys Q3 2025 → Q4 2025
| SBUX Starbucks Corp. | Add +14.0% | 12.46% | +5.57 |
| TSLA Tesla Inc. | New | 2.60% | +2.60 |
| AAL American Airlines Group Inc. | Add +120.7% | 2.60% | +2.05 |
| STX Seagate Technology Holdings | New | 1.52% | +1.52 |
| EA Electronic Arts Inc. | Add +6.0% | 3.58% | +1.49 |
| AVGO Broadcom Inc. | Add +87.9% | 2.18% | +1.49 |
| PDD PDD Holdings Inc. | Add +6.0% | 4.77% | +1.48 |
| NIO Nio Inc. - ADR | New | 1.39% | +1.39 |
| SPOT Spotify Technology SA | New | 1.38% | +1.38 |
| PYPL PayPal Holdings Inc. | Add +554.0% | 1.33% | +1.19 |
| GDX Vaneck Gold Miners ETF | Add +286.4% | 1.39% | +1.19 |
| META Meta Platforms Inc. Class A | New | 1.14% | +1.14 |
| WDC Western Digital Corp. | New | 0.92% | +0.92 |
| PFE Pfizer Inc. | Add +364.5% | 1.06% | +0.91 |
| LI Li Auto Inc. - ADR | Add +200.5% | 1.28% | +0.88 |
| LYFT LYFT Inc. Class A | Add +96.0% | 1.38% | +0.88 |
| NVDA Nvidia Corp. | Add +321.1% | 1.01% | +0.86 |
| MRVL Marvell Technology Inc. | Add +114.0% | 1.20% | +0.85 |
| CSCO Cisco Systems Inc. | New | 0.82% | +0.82 |
| INTC Intel Corp. | New | 0.74% | +0.74 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +5.0% | 2.10% | +0.73 |
| AMZN Amazon.com Inc. | New | 0.66% | +0.66 |
| NFLX Netflix Inc. | Add +216.1% | 0.80% | +0.60 |
| CMG Chipotle Mexican Grill Inc. | Add +241.9% | 0.69% | +0.56 |
| QCOM Qualcomm Inc. | New | 0.52% | +0.52 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.50% | +0.50 |
| KLAC KLA Corp. | Add +68.1% | 0.68% | +0.45 |
| FUTU Futu Holdings Ltd.-ADR | Add +107.1% | 0.66% | +0.45 |
| ADBE Adobe Inc. | Add +9.7% | 1.05% | +0.44 |
| IBM Intl Business Machines Corp. | New | 0.43% | +0.43 |
| HIMS Hims & Hers Health Inc. | New | 0.40% | +0.40 |
| UAL United Airlines Holdings Inc. | New | 0.37% | +0.37 |
| AMAT Applied Materials Inc. | New | 0.31% | +0.31 |
| BIDU Baidu Inc. - Spon ADR | New | 0.27% | +0.27 |
| FIVE Five Below | New | 0.27% | +0.27 |
| CAR Avis Budget Group Inc. | New | 0.25% | +0.25 |
| UPS United Parcel Service Class B | Add +95.8% | 0.34% | +0.25 |
| COIN Coinbase Global Inc. Class A | Add +40.7% | 0.68% | +0.23 |
| BEKE Ke Holdings Inc.-ADR | Add +35.2% | 0.42% | +0.18 |
| FDX FedEx Corp. | New | 0.18% | +0.18 |
| CHRW C.H. Robinson Worldwide Inc. | New | 0.15% | +0.15 |
| LRCX Lam Research Corp. | New | 0.15% | +0.15 |
| CVNA Carvana Co. | New | 0.14% | +0.14 |
| AI C3.AI Inc. Class A | New | 0.13% | +0.13 |
| XYZ Block Inc. | Add +19.8% | 0.27% | +0.11 |
Options Activity Q3 2025 → Q4 2025
| GOLDMAN SACHS GROUP INC | put | Add +670.0% | 1,432,100 | $1.3B |
| ADOBE INC | put | Add +54.2% | 2,116,400 | $740.7M |
| ALPHABET INC | put | Add +16.5% | 1,274,200 | $398.8M |
| META PLATFORMS INC | call | Reduce -33.0% | 537,600 | $354.9M |
| ALPHABET INC | call | Add +6.6% | 994,000 | $311.1M |
| APPLE INC | call | Reduce -20.1% | 1,125,700 | $306.0M |
| MICROSOFT CORP | put | Reduce -3.5% | 600,300 | $290.3M |
| META PLATFORMS INC | put | Reduce -23.8% | 427,600 | $282.3M |
| VANECK ETF TRUST | put | Add +36.1% | 3,247,400 | $278.5M |
| CITIGROUP INC | call | Add +10.3% | 2,352,200 | $274.5M |
| MICROSOFT CORP | call | Reduce -23.1% | 535,500 | $259.0M |
| TESLA INC | put | Add +14.7% | 560,300 | $252.0M |
| SPDR GOLD TR | call | New | 634,300 | $251.4M |
| JPMORGAN CHASE & CO | call | Reduce -20.6% | 774,700 | $249.6M |
| SHOPIFY INC | call | Add +27.3% | 1,490,000 | $239.8M |
| GOLDMAN SACHS GROUP INC | call | Reduce -14.3% | 251,600 | $221.2M |
| ROBINHOOD MKTS INC | call | Reduce -16.9% | 1,653,400 | $187.0M |
| AMAZON COM INC | put | Add +39.7% | 770,600 | $177.9M |
| SPDR GOLD TR | put | Add +6.7% | 438,100 | $173.6M |
| NETFLIX INC. | put | Add +140.5% | 1,838,000 | $172.3M |
| ALIBABA GROUP HLDG LTD | call | Add +390.7% | 1,140,800 | $167.2M |
| VANECK ETF TRUST | call | Add +20.1% | 1,917,100 | $164.4M |
| CITIGROUP INC | put | Add +5.1% | 1,398,600 | $163.2M |
| TAIWAN SEMICONDUCTOR MANUFAC | put | Add +0.3% | 486,200 | $147.8M |
| TESLA INC | call | Add +22.7% | 222,400 | $100.0M |
| ADOBE INC | call | Add +149.1% | 263,000 | $92.0M |
| NVIDIA CORPORATION | put | Reduce -20.8% | 484,500 | $90.4M |
| AMERICAN EXPRESS CO | call | Reduce -7.9% | 238,000 | $88.0M |
| AMAZON COM INC | call | Add +54.0% | 352,100 | $81.3M |
| JPMORGAN CHASE & CO | put | Reduce -72.6% | 248,600 | $80.1M |
| PAYPAL HLDGS INC | put | Reduce -7.3% | 1,318,400 | $77.0M |
| ADVANCED MICRO DEVICES INC | put | Reduce -6.5% | 359,300 | $76.9M |
| AMERICAN EXPRESS CO | put | Add +10.3% | 204,000 | $75.5M |
| ALIBABA GROUP HLDG LTD | put | New | 498,800 | $73.1M |
| NETFLIX INC. | call | Add +352.4% | 680,900 | $63.8M |
| ROBINHOOD MKTS INC | put | Reduce -0.9% | 555,900 | $62.9M |
| BROADCOM INC | put | Reduce -55.4% | 173,600 | $60.1M |
| SALESFORCE INC | call | Reduce -9.8% | 225,400 | $59.7M |
| STATE STR SPDR S&P 500 ETF T | put | Reduce -15.0% | 85,000 | $58.0M |
| SHOPIFY INC | put | Add +44.6% | 350,000 | $56.3M |
| STARBUCKS CORP | put | Add +3.6% | 652,100 | $54.9M |
| SPOTIFY TECHNOLOGY S A | put | New | 94,000 | $54.6M |
| INTERNATIONAL BUSINESS MACHS | put | Add +3.0% | 183,300 | $54.3M |
| VALE S A | put | Reduce -3.2% | 3,922,300 | $51.1M |
| PDD HOLDINGS INC | call | Reduce -4.8% | 446,500 | $50.6M |
| SELECT SECTOR SPDR TR | put | Add +165.6% | 1,110,100 | $49.6M |
| ASML HLDG NV | put | Add +69.4% | 43,700 | $46.8M |
| STARBUCKS CORP | call | Add +14.8% | 535,800 | $45.1M |
| COINBASE GLOBAL INC | call | Reduce -28.4% | 193,400 | $43.7M |
| TAIWAN SEMICONDUCTOR MANUFAC | call | Add +10.6% | 143,500 | $43.6M |
Showing the first 50 of 276.
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 | 103 | $191.1M | META, AXP, MSFT, AAPL, BABA |
| Q1 2026 | 101 | $216.2M | JPM, AXP, META, CRM, BIDU |
| Q4 2025Amended | 84 | $151.1M | SBUX, PDD, BABA, EA, GOOGL |
| Q3 2025 | 83 | $240.7M | C, SHOP, GS, SBUX, MSFT |
| Q2 2025 | 72 | $207.7M | SHOP, ADBE, C, DIS, BABA |
| Q1 2025 | 71 | $241.8M | META, SBUX, AXP, DIS, TSM |
| Q4 2024 | 61 | $167.9M | SBUX, NFLX, BABA, IBM, WFC |
| Q3 2024 | 73 | $218.9M | NFLX, FDX, SBUX, GDX, BP |
| Q2 2024 | 75 | $351.7M | NVDA, NFLX, AVGO, META, PDD |
| Q1 2024 | 61 | $219.2M | AAPL, NFLX, AAL, C, W |