Equitec Proprietary Markets, LLC In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Equitec Proprietary Markets, LLC reported 30 stock positions worth $34.8 million . Its top holding was United States Steel (X) at 29.2% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 24.1% ) and Intra-Cellular Therapies (ITCI, 20.9% ). Compared with Q4 2024, it opened 7 new positions, sold out of 5, added to 7 and reduced 4. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +750000% ) and the biggest sale United States Steel (X, shares −16% ).
Location CHICAGO, IL
CIK 0001143261
Portfolio Value $34.8M (Q1 2025) Holdings 30 stocks · $34.8M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 X United States Steel Corp. 239,800 $10.1M Reduce -16.1% SPY SS SPDR S&P 500 ETF Trust-US 15,002 $8.4M Add +750000.0% ITCI Intra-Cellular Therapies Inc. 55,100 $7.3M New K Kellanova 33,060 $2.7M Add +3744.2% AMED Amedisys Inc. 17,000 $1.6M Add +183.3% KBDC Kayne Anderson BDC Inc. 81,332 $1.3M New SPR Spirit Aerosystems Hold Class A 17,700 $610K Add +14.2% BLUEBIRD BIO INC 110,714 $540K New WBA Walgreens Boots Alliance Inc. 36,000 $402K New KLG WK Kellogg Co. 20,150 $402K Add +24.8% GME Gamestop Corp. Class A 14,225 $318K Reduce -1.4% CDZI Cadiz Inc. 108,046 $317K Reduce -24.2% ALTG Alta Equipment Group Inc. 55,630 $261K New BW Babcock & Wilcox Enterpr 327,365 $220K Add +28.3% PMCB Pharmacyte Biotech Inc. 82,727 $103K No change TLT iShares 20+ Year Treasury BD 800 $73K No change GOOG Alphabet Inc. Class C 200 $31K No change AB Alliancebernstein Holding LP 500 $19K New AWRE Aware Inc. 7,000 $11K New SIRI Sirius XM Holdings Inc. 480 $11K Reduce -97.2% TMC TMC the Metals Co. Inc. 4,000 $7K No change JD Jd.com Inc.-ADR 125 $5K No change TEUCRIUM WHEAT FUND 1,000 $5K No change SABR Sabre Corp. 1,000 $3K No change AMC AMC Entertainment HLDS Class A 971 $3K No change PROSHARES TR II 100 $2K No change MJ Amplify Alternat Harvest ETF 83 $2K Add +1.4% HE Hawaiian Electric Inds 75 $821 No change ASSET ENTITIES INC 160 $92 No change DAMON INC 30 $0 No change
Options reported separately and not counted above: SPY calls ($16.8M), ITCI puts ($15.2M), PARAA puts ($15.1M), X puts ($13.5M), PARAA calls ($10.3M), K calls ($9.5M), X calls ($6.5M), K puts ($4.8M), ITCI calls ($3.8M), SPY puts ($2.8M), AMED puts ($2.1M), AB puts ($927K), and 13 more.
Other holdings (11): bonds, preferreds, convertibles and warrants · $97K (not counted above) Security Class Shares / Principal Value Change BBAI.WS Bigbear.ai Holdings -CW28 *W EXP 12/08/202 85,000 $70K Reduce -5.6% QBTS.WS D-Wave Quantum Inc. -27 *W EXP 08/05/202 5,300 $20K No change ICUCW LMF Acquisition Opp -A -CW26 *W EXP 10/28/202 80,399 $3K No change MSPRW MSP Recovery Inc. -27 *W EXP 05/20/202 500,000 $2K No change LVWR.WS Livewire Group Inc.-27 *W EXP 09/26/202 66,000 $1K No change NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 5,000 $800 No change DRTSW Alpha Tau Medical Ltd. -27 *W EXP 99/99/999 1,900 $451 No change CLSKW Cleanspark Inc.-29 *W EXP 12/29/202 2,045 $364 No change PARAW 7GC & Co. Holdings Class A -CW26 *W EXP 12/14/202 5,000 $118 No change ANGHW Anghami Inc. -CW27 *W EXP 02/03/202 2,500 $33 No change SONWQ Gores Metropoulos II -CW28 *W EXP 01/18/202 2,600 $18 No change
Total filed on the 13F, all lines: $34.9M.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ X United States Steel Corp. Reduce -16.1% 29.15% −37.19 PARAA Paramount Global Class B Sold out 0.00% −6.96 CDZI Cadiz Inc. Reduce -24.2% 0.91% −4.15 SIRI Sirius XM Holdings Inc. Reduce -97.2% 0.03% −2.66 GME Gamestop Corp. Class A Reduce -1.4% 0.91% −2.17 DFS Discover Financial Services Sold out 0.00% −1.18 CPRI Capri Holdings Ltd. Sold out 0.00% −0.16 ARKK ARK Innovation ETF Sold out 0.00% −0.03 ORIGIN MATERIALS INC Sold out 0.00% −0.02
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ SPY SS SPDR S&P 500 ETF Trust-US Add +750000.0% 24.14% +24.13 ITCI Intra-Cellular Therapies Inc. New 20.91% +20.91 K Kellanova Add +3744.2% 7.85% +7.37 KBDC Kayne Anderson BDC Inc. New 3.80% +3.80 BLUEBIRD BIO INC New 1.55% +1.55 WBA Walgreens Boots Alliance Inc. New 1.16% +1.16 AMED Amedisys Inc. Add +183.3% 4.53% +0.81 ALTG Alta Equipment Group Inc. New 0.75% +0.75 AB Alliancebernstein Holding LP New 0.06% +0.06 AWRE Aware Inc. New 0.03% +0.03 MJ Amplify Alternat Harvest ETF Add +1.4% 0.00% −0.01 KLG WK Kellogg Co. Add +24.8% 1.16% −0.83 SPR Spirit Aerosystems Hold Class A Add +14.2% 1.75% −1.85 BW Babcock & Wilcox Enterpr Add +28.3% 0.63% −2.22
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US call New 30,000 $16.8M ITCI Intra-Cellular Therapies Inc. put New 115,200 $15.2M PARAA Paramount Global Class B put Add +87.6% 1,263,600 $15.1M X United States Steel Corp. put Reduce -63.2% 319,400 $13.5M PARAA Paramount Global Class B call Add +39.4% 858,400 $10.3M K Kellanova call Add +23.4% 115,600 $9.5M CPRI Capri Holdings Ltd. call Sold out 433,600 $9.1Mbefore exit X United States Steel Corp. call Reduce -70.5% 154,300 $6.5M K Kellanova put Add +748.5% 57,700 $4.8M ITCI Intra-Cellular Therapies Inc. call New 28,800 $3.8M SPY SS SPDR S&P 500 ETF Trust-US put New 5,000 $2.8M AMED Amedisys Inc. put Add +286.7% 23,200 $2.1M CPRI Capri Holdings Ltd. put Sold out 64,800 $1.4Mbefore exit PSTX Poseida Therapeutics Inc. put Sold out 124,200 $1.2Mbefore exit AB Alliancebernstein Holding LP put New 24,200 $927K WBA Walgreens Boots Alliance Inc. put New 82,500 $922K BLUEBIRD BIO INC put New 151,800 $741K PSTX Poseida Therapeutics Inc. call Sold out 74,100 $711Kbefore exit WBA Walgreens Boots Alliance Inc. call New 50,100 $560K JNPR Juniper Networks Inc. call Reduce -14.3% 15,000 $543K SPR Spirit Aerosystems Hold Class A put Add +50.0% 15,000 $517K AB Alliancebernstein Holding LP call New 11,300 $433K SIRI Sirius XM Holdings Inc. call Reduce -84.1% 12,000 $271K GME Gamestop Corp. Class A call Sold out 8,300 $260Kbefore exit SIRI Sirius XM Holdings Inc. put Reduce -95.7% 5,200 $117K CKPT Checkpoint Therapeutics Inc. call New 22,800 $92K BNED Barnes & Noble Education Inc. call Sold out 8,900 $89Kbefore exit KLG WK Kellogg Co. call Sold out 4,000 $72Kbefore exit CMRX Chimerix Inc. call New 2,500 $21K CKPT Checkpoint Therapeutics Inc. put New 5,000 $20K AMED Amedisys Inc. call Reduce -98.0% 100 $9K RVNC Revance Therapeutics Inc. call Sold out 300 $912before exit BBAI Bigbear.ai Holdings Inc. call Sold out 68,500 $0before exit PLCE The Children's Place Inc. put Sold out 16,600 $0before exit PLCE The Children's Place Inc. call Sold out 5,000 $0before exit IRBTQ Irobot Corp. put Sold out 200 $0before exit IRBTQ Irobot Corp. call Sold out 17,200 $0before exit JNPR Juniper Networks Inc. put Sold out 1,500 $0before exit MSTR Strategy Inc. call Sold out 6,500 $0before exit MSTR Strategy Inc. put Sold out 4,400 $0before exit NFLX Netflix Inc. call Sold out 96,000 $0before exit SMCI Super Micro Computer Inc. call Sold out 47,100 $0before exit TSLA Tesla Inc. call Sold out 21,900 $0before exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025 Security Class Change vs Q4 2024 Shares / Principal Value ▼ BBAI.WS Bigbear.ai Holdings -CW28 *W EXP 12/08/202 Reduce -5.6% 85,000 $70K CEPTON INC *W EXP 06/01/202 Sold out 52,800 $370before exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 42 $404.0M APLD, RILY, ZIM, EA, BW Q1 2026 34 $43.2M HOLX, ZIM, TERN, ACLX, TPH Q4 2025 36 $20.6M CDTX, HOLX, PSKY, EA, KBDC Q3 2025 33 $16.5M K, PSKY, EA, ETNB, KBDC Q2 2025 30 $24.7M BPMC, K, KBDC, SPR, SAGE Q1 2025 30 $34.8M X, SPY, ITCI, K, AMED Q4 2024 28 $14.6M X, PARAA, CDZI, AMED, SPR Q3 2024 29 $10.9M X, SIRI, AMED, PARAA, MGRC Q2 2024 34 $13.1M SPY, X, AMED, EVBG, DDI Q1 2024 Amended 44 $56.3M APLD, RILY, MSTR, NVDA, AMED