Equitec Proprietary Markets, LLC In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 26, 2025), Equitec Proprietary Markets, LLC reported 33 stock positions worth $16.5 million . Its top holding was Kellanova (K) at 25.8% of the portfolio, followed by Paramount Skydance Class B (PSKY, 22.7% ) and Electronic Arts (EA, 13.3% ). Compared with Q2 2025, it opened 13 new positions, sold out of 10 and reduced 4. The biggest buy was a new position in Paramount Skydance Class B (PSKY) and the biggest sale an exit from Blueprint Medicines (BPMC).
Location CHICAGO, IL
CIK 0001143261
Portfolio Value $16.5M (Q3 2025) Holdings 33 stocks · $16.5M 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 Q2 2025 K Kellanova 51,800 $4.2M Reduce -40.2% PSKY Paramount Skydance Class B 197,500 $3.7M New EA Electronic Arts Inc. 10,900 $2.2M New ETNB 89BIO Inc. 130,200 $1.9M New KBDC Kayne Anderson BDC Inc. 121,998 $1.6M No change ARIS WATER SOLUTIONS INC-A 27,300 $673K New SPR Spirit Aerosystems Hold Class A 13,200 $510K Reduce -39.2% WES Western Midstream Partners L 9,700 $381K New ZIMV Zimvie Inc. 18,000 $341K New GME Gamestop Corp. Class A 8,625 $235K No change CDZI Cadiz Inc. 32,735 $155K Reduce -69.7% COMP Compass Inc. Class A 10,000 $80K New PMCB Pharmacyte Biotech Inc. 82,727 $80K No change TLT iShares 20+ Year Treasury BD 800 $71K No change TFSL TFS Financial Corp. 4,574 $60K Reduce -74.1% TMC TMC the Metals Co. Inc. 4,000 $25K No change GOOG Alphabet Inc. Class C 100 $24K No change LVTX Lava Therapeutics NV 12,500 $20K New AWRE Aware Inc. 7,000 $17K No change WOLF Wolfspeed Inc. 500 $14K New SIRI Sirius XM Holdings Inc. 520 $12K No change SCPH Scpharmaceuticals Inc. 2,000 $11K New LNSR Lensar Inc. 900 $11K New ALE Allete Inc. 100 $7K New JD Jd.com Inc.-ADR 125 $4K No change TEUCRIUM WHEAT FUND 1,000 $4K No change MJ Amplify Alternat Harvest ETF 83 $3K No change AMC AMC Entertainment HLDS Class A 971 $3K No change SABR Sabre Corp. 1,000 $2K No change SPY SS SPDR S&P 500 ETF Trust-US 2 $1K No change PROSHARES TR II 100 $1K No change HE Hawaiian Electric Inds 75 $828 No change STRIVE INC 160 $400 New
Options reported separately and not counted above: SPY puts ($250.5M), NFLX calls ($119.9M), PSKY puts ($16.0M), K puts ($10.5M), K calls ($6.8M), ETNB puts ($4.7M), EA puts ($2.2M), PSKY calls ($1.8M), SIRI calls ($1.6M), WBD puts ($1.2M), ETNB calls ($938K), TSLA calls ($934K), and 20 more.
Other holdings (12): bonds, preferreds, convertibles and warrants · $297K (not counted above) Security Class Shares / Principal Value Change BBAI.WS Bigbear.ai Holdings -CW28 *W EXP 12/08/202 62,500 $132K Reduce -16.7% QBTS.WS D-Wave Quantum Inc. -27 *W EXP 08/05/202 5,300 $129K No change LVWR.WS Livewire Group Inc.-27 *W EXP 09/26/202 237,735 $17K Add +131.2% NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 5,000 $9K No change CLEARBRIDGE ENERGY MI-RT RIGHT 10/10/2025 266,454 $5K New CLSKW Cleanspark Inc.-29 *W EXP 12/29/202 2,045 $982 No change ICUCW LMF Acquisition Opp -A -CW26 *W EXP 10/28/202 35,700 $967 Reduce -55.6% MSPRW MSP Recovery Inc. -27 *W EXP 05/20/202 500,000 $900 No change DRTSW Alpha Tau Medical Ltd. -27 *W EXP 99/99/999 1,900 $656 No change PARAW 7GC & Co. Holdings Class A -CW26 *W EXP 12/14/202 5,000 $134 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 $28 No change
Total filed on the 13F, all lines: $16.8M.
Portfolio Sells Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ BPMC Blueprint Medicines Corp. Sold out 0.00% −47.98 SAGE Sage Therapeutics Inc. Sold out 0.00% −2.36 WBA Walgreens Boots Alliance Inc. Sold out 0.00% −2.07 K Kellanova Reduce -40.2% 25.79% −2.06 BW Babcock & Wilcox Enterpr Sold out 0.00% −1.27 KLG WK Kellogg Co. Sold out 0.00% −1.17 JNPR Juniper Networks Inc. Sold out 0.00% −1.05 RDFN Redfin Corp. Sold out 0.00% −0.81 TFSL TFS Financial Corp. Reduce -74.1% 0.37% −0.56 CDZI Cadiz Inc. Reduce -69.7% 0.94% −0.37 SPR Spirit Aerosystems Hold Class A Reduce -39.2% 3.09% −0.26 SSTK Shutterstock Inc. Sold out 0.00% −0.23 VERV Verve Therapeutics Inc. Sold out 0.00% −0.22 ASSET ENTITIES INC Sold out 0.00% −0.00
Portfolio Buys Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ PSKY Paramount Skydance Class B New 22.69% +22.69 EA Electronic Arts Inc. New 13.35% +13.35 ETNB 89BIO Inc. New 11.62% +11.62 ARIS WATER SOLUTIONS INC-A New 4.09% +4.09 WES Western Midstream Partners L New 2.31% +2.31 ZIMV Zimvie Inc. New 2.07% +2.07 COMP Compass Inc. Class A New 0.49% +0.49 LVTX Lava Therapeutics NV New 0.12% +0.12 WOLF Wolfspeed Inc. New 0.09% +0.09 SCPH Scpharmaceuticals Inc. New 0.07% +0.07 LNSR Lensar Inc. New 0.07% +0.07 ALE Allete Inc. New 0.04% +0.04 STRIVE INC New 0.00% +0.00
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 376,000 $250.5M NFLX Netflix Inc. call New 100,000 $119.9M BPMC Blueprint Medicines Corp. put Sold out 136,500 $17.5Mbefore exit PSKY Paramount Skydance Class B put New 848,300 $16.0M PARAA Paramount Global Class B put Sold out 1,064,100 $13.7Mbefore exit K Kellanova put Reduce -25.3% 127,600 $10.5M FL Foot Locker Inc. call Sold out 325,200 $8.0Mbefore exit K Kellanova call Reduce -43.5% 83,300 $6.8M PARAA Paramount Global Class B call Sold out 417,900 $5.4Mbefore exit ETNB 89BIO Inc. put New 318,100 $4.7M EA Electronic Arts Inc. put New 10,900 $2.2M PSKY Paramount Skydance Class B call New 93,800 $1.8M WBA Walgreens Boots Alliance Inc. call Sold out 149,600 $1.7Mbefore exit SIRI Sirius XM Holdings Inc. call Add +72.8% 67,900 $1.6M AMED Amedisys Inc. put Sold out 13,100 $1.3Mbefore exit WBD Warner Bros Discovery Inc. put New 63,500 $1.2M WBA Walgreens Boots Alliance Inc. put Sold out 91,300 $1.0Mbefore exit SAGE Sage Therapeutics Inc. put Sold out 113,500 $1.0Mbefore exit VERV Verve Therapeutics Inc. put Sold out 85,000 $955Kbefore exit ETNB 89BIO Inc. call New 63,800 $938K TSLA Tesla Inc. call New 2,100 $934K SCPH Scpharmaceuticals Inc. put New 160,900 $912K VRNA Verona Pharma Ltd. call New 8,200 $875K ZIMV Zimvie Inc. put New 32,100 $608K JNPR Juniper Networks Inc. call Sold out 15,000 $599Kbefore exit ARIS WATER SOLUTIONS INC-A put New 20,000 $493K WES Western Midstream Partners L call New 11,300 $444K JNPR Juniper Networks Inc. put Sold out 10,000 $399Kbefore exit SPR Spirit Aerosystems Hold Class A put Reduce -50.0% 10,000 $386K WES Western Midstream Partners L put New 9,700 $381K RKT Rocket Cos Inc. Class A put New 18,000 $349K VERV Verve Therapeutics Inc. call Sold out 28,500 $320Kbefore exit RKT Rocket Cos Inc. Class A call New 14,200 $275K MSFT Microsoft Corp. put Sold out 500 $249Kbefore exit RDFN Redfin Corp. put Sold out 18,000 $201Kbefore exit WOLF Wolfspeed Inc. put New 4,000 $114K COMP Compass Inc. Class A put New 10,000 $80K LVTX Lava Therapeutics NV put New 15,400 $24K ALE Allete Inc. put New 200 $13K LNSR Lensar Inc. put New 900 $11K AMED Amedisys Inc. call Sold out 100 $10Kbefore exit LNSR Lensar Inc. call New 200 $2K FL Foot Locker Inc. put Sold out 100 $2Kbefore exit SSTK Shutterstock Inc. put New 100 $2K HOUS Anywhere Real Estate Inc. call New 20,000 $0
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025 Security Class Change vs Q2 2025 Shares / Principal Value ▼ RGTIW Rigetti Computing -CW27 *W EXP 03/02/202 Sold out 32,000 $134Kbefore exit BBAI.WS Bigbear.ai Holdings -CW28 *W EXP 12/08/202 Reduce -16.7% 62,500 $132K LVWR.WS Livewire Group Inc.-27 *W EXP 09/26/202 Add +131.2% 237,735 $17K CLEARBRIDGE ENERGY MI-RT RIGHT 10/10/2025 New 266,454 $5K ICUCW LMF Acquisition Opp -A -CW26 *W EXP 10/28/202 Reduce -55.6% 35,700 $967
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