Gambit Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Gambit Capital Management, LLC reported 87 stock positions worth $139.5 million. Its top holding was Eli Lilly (LLY) at 17.1% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 8.5%) and SS SPDR S&P 500 ETF Trust-US (SPY, 8.2%). Compared with Q4 2025, it opened 10 new positions, sold out of 9, added to 19 and reduced 53. The biggest buy was a new position in Invesco S&P 500 Equal Weight (RSP) and the biggest sale Janus Henderson Aaa Clo ETF (JAAA, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- FRANKLIN, TN
- CIK
- 0002107464
- Portfolio Value
- $139.5M (Q1 2026)
- SEC Filing
- 0001951757-26-000862 ↗ filed May 14, 2026
Holdings Value
Holdings 87 stocks · $139.5M
| LLY Eli Lilly & Co. | 17.15% | 26,000 | $23.9M | Add +5.8% |
| VOO Vanguard S&P 500 ETF | 8.49% | 19,808 | $11.8M | Reduce -12.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 8.24% | 17,679 | $11.5M | Reduce -2.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 7.74% | 141,116 | $10.8M | Add +43.2% |
| SCHX Schwab US Large-Cap ETF | 4.15% | 225,731 | $5.8M | Reduce -3.1% |
| RSP Invesco S&P 500 Equal Weight | 3.73% | 27,097 | $5.2M | New |
| QUAL iShares MSCI USA Quality Fac | 2.99% | 21,767 | $4.2M | Reduce -11.5% |
| SPDW Ste STR SPDR PT DW Eu ETF | 2.90% | 88,733 | $4.1M | Add +99.2% |
| EFA iShares MSCI Eafe ETF | 2.81% | 40,294 | $3.9M | Add +53.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.77% | 26,902 | $2.5M | New |
| AAPL Apple Inc. | 1.68% | 9,242 | $2.3M | Reduce -3.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.49% | 4,347 | $2.1M | Reduce -1.9% |
| SPAB SS SPDR P Agg Bond ETF | 1.32% | 71,670 | $1.8M | Add +7.2% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.32% | 37,965 | $1.8M | Reduce -17.1% |
| SCHF Schwab Intl Equity ETF | 1.30% | 73,364 | $1.8M | Add +38.1% |
| MSFT Microsoft Corp. | 1.24% | 4,672 | $1.7M | Add +0.3% |
| SCHO Schwab Short-Term US Treas | 1.20% | 68,808 | $1.7M | New |
| BSCR Invesco Bulletshares 2027 CB | 1.19% | 84,643 | $1.7M | Add +13.1% |
| ETHA iShares Ethereum Trust ETF | 1.16% | 102,241 | $1.6M | New |
| BSCQ Invesco Bulletshares 2026 CB | 1.14% | 81,193 | $1.6M | Reduce -16.2% |
| SCHZ Schwab US Aggregate Bond ETF | 1.06% | 63,546 | $1.5M | Reduce -3.5% |
| IWM iShares Russell 2000 ETF | 0.93% | 5,211 | $1.3M | Reduce -38.9% |
| AMZN Amazon.com Inc. | 0.90% | 6,049 | $1.3M | Add +18.3% |
| GOOGL Alphabet Inc. Class A | 0.89% | 4,337 | $1.2M | Reduce -6.6% |
| NVDA Nvidia Corp. | 0.89% | 7,137 | $1.2M | Reduce -4.6% |
| GLDM SPDR Gold Minishares Trust | 0.88% | 13,258 | $1.2M | Reduce -0.7% |
| JPM JPMorgan Chase & Co. | 0.78% | 3,695 | $1.1M | Reduce -2.3% |
| BSCS Invesco Bulletshares 2028 CB | 0.75% | 51,489 | $1.1M | Add +80.7% |
| BND Vanguard Total Bond Market | 0.69% | 12,996 | $957K | New |
| PINK Simplify Health Care ETF | 0.68% | 28,326 | $953K | Add +13.0% |
| APG Api Group Corp. | 0.66% | 22,853 | $926K | Reduce -6.2% |
| MDY State Street SPDR S&P Midcap | 0.66% | 1,491 | $920K | Reduce -53.5% |
| EEM iShares MSCI Emerging Market | 0.65% | 16,049 | $911K | Add +9.9% |
| DFUS Dimensional US Eq MKT ETF | 0.61% | 12,076 | $856K | Reduce -0.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.57% | 2,482 | $796K | Add +164.6% |
| DGRW Wisdomtree U.S. Quality Divi | 0.55% | 8,673 | $762K | Reduce -9.4% |
| TIP iShares Tips Bond ETF | 0.51% | 6,452 | $712K | New |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.50% | 14,337 | $702K | Add +56.7% |
| COST Costco Wholesale Corp. | 0.48% | 673 | $671K | Reduce -5.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.48% | 1,527 | $667K | Reduce -0.4% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.44% | 10,351 | $613K | Reduce -75.2% |
| VBIL Vanguard 0-3M T-Bill ETF | 0.44% | 8,088 | $612K | New |
| MINT PIMCO Enhanced Short Maturit | 0.44% | 6,041 | $608K | Reduce -3.1% |
| META Meta Platforms Inc. Class A | 0.41% | 998 | $571K | Reduce -14.0% |
| SCHW Schwab (charles) Corp. | 0.40% | 5,899 | $554K | Add +0.2% |
| ABBV Abbvie Inc. | 0.40% | 2,536 | $552K | Reduce -2.5% |
| XLK SS Technology Select Sector | 0.39% | 4,101 | $545K | Add +0.6% |
| AVUV Avantis US Small Cap Value | 0.39% | 4,930 | $545K | Reduce -34.4% |
| TSLA Tesla Inc. | 0.37% | 1,396 | $519K | Reduce -4.2% |
| SPEM State Street SP PTF Em ETF | 0.37% | 10,890 | $511K | Add +32.5% |
| AVGO Broadcom Inc. | 0.36% | 1,609 | $498K | Reduce -5.8% |
| SCHP Schwab U.S. Tips ETF | 0.35% | 18,546 | $494K | New |
| SCHA Schwab US Small-Cap ETF | 0.35% | 16,587 | $482K | Reduce -42.9% |
| XLE SS Energy Select Sector | 0.34% | 7,772 | $476K | Reduce -4.5% |
| JNJ Johnson & Johnson | 0.34% | 1,943 | $475K | Reduce -33.8% |
| GOOG Alphabet Inc. Class C | 0.33% | 1,620 | $465K | No change |
| JAAA Janus Henderson Aaa Clo ETF | 0.33% | 9,094 | $458K | Reduce -84.0% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.33% | 13,872 | $457K | Reduce -14.8% |
| NFLX Netflix Inc. | 0.31% | 4,524 | $435K | Reduce -3.6% |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 7,787 | $421K | Reduce -4.9% |
| NUE Nucor Corp. | 0.30% | 2,465 | $417K | No change |
| VT Vanguard Tot World STK ETF | 0.29% | 2,920 | $404K | No change |
| V Visa Inc. Class A | 0.28% | 1,300 | $393K | Reduce -20.2% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.27% | 1,250 | $374K | Add +24.8% |
| GLD SPDR Gold Shares | 0.25% | 817 | $352K | Reduce -4.2% |
| MUB iShares National Muni Bond E | 0.25% | 3,310 | $351K | Reduce -38.5% |
| PTLC Pacer Trendpilot US Large Ca | 0.24% | 6,359 | $334K | Reduce -2.5% |
| AVDE Avantis International Equity | 0.24% | 3,885 | $330K | No change |
| RTX RTX Corp. | 0.24% | 1,704 | $329K | Add +0.8% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.22% | 1,433 | $311K | Reduce -20.2% |
| WMT Walmart Inc. | 0.22% | 2,482 | $308K | Reduce -18.1% |
| IEI iShares 3-7 Year Treasury Bo | 0.21% | 2,509 | $298K | Reduce -75.3% |
| ORCL Oracle Corp. | 0.21% | 1,961 | $288K | Reduce -4.1% |
| XOM Exxon Mobil Corp. | 0.19% | 1,566 | $266K | Reduce -21.1% |
| AAAU Goldman Sachs Physical Gold | 0.19% | 5,657 | $261K | New |
| MA Mastercard Inc. Class A | 0.18% | 516 | $258K | Reduce -18.6% |
| CAH Cardinal Health Inc. | 0.18% | 1,209 | $255K | Reduce -13.8% |
| ABT Abbott Laboratories | 0.18% | 2,474 | $254K | Reduce -6.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.18% | 1,040 | $252K | Reduce -1.4% |
| LRCX Lam Research Corp. | 0.18% | 1,169 | $250K | Reduce -27.8% |
| CBOE Cboe Global Markets Inc. | 0.16% | 785 | $221K | Reduce -7.0% |
| FERG Ferguson Enterprises Inc. | 0.15% | 921 | $215K | Reduce -10.9% |
| MMM 3M Co. | 0.15% | 1,464 | $213K | Reduce -5.8% |
| SCHM Schwab US Mid Cap ETF | 0.15% | 6,690 | $207K | Reduce -79.6% |
| UNP Union Pacific Corp. | 0.15% | 846 | $205K | Reduce -17.6% |
| XLV SS Health Care Select Sector | 0.14% | 1,376 | $202K | New |
| PCT Purecycle Technologies Inc. | 0.07% | 19,200 | $100K | No change |
Options reported separately and not counted above: ELI LILLY & CO puts ($2.8M), STATE STR SPDR S&P 500 ETF T puts ($2.1M), STATE STR SPDR S&P 500 ETF T calls ($845K).
Portfolio Sells Q4 2025 → Q1 2026
| JAAA Janus Henderson Aaa Clo ETF | Reduce -84.0% | 0.33% | −1.73 |
| VOO Vanguard S&P 500 ETF | Reduce -12.3% | 8.49% | −1.64 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -75.2% | 0.44% | −1.29 |
| FBTC Fidelity Wise Origin Bitcoin | Sold out | 0.00% | −0.75 |
| MDY State Street SPDR S&P Midcap | Reduce -53.5% | 0.66% | −0.72 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.5% | 8.24% | −0.69 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -75.3% | 0.21% | −0.66 |
| DGRO iShares Core Dividend Growth | Sold out | 0.00% | −0.61 |
| IWM iShares Russell 2000 ETF | Reduce -38.9% | 0.93% | −0.58 |
| SCHM Schwab US Mid Cap ETF | Reduce -79.6% | 0.15% | −0.56 |
| QUAL iShares MSCI USA Quality Fac | Reduce -11.5% | 2.99% | −0.50 |
| SPHY SS SPDR P High Yield ETF | Sold out | 0.00% | −0.40 |
| SCHX Schwab US Large-Cap ETF | Reduce -3.1% | 4.15% | −0.33 |
| DIA SS SPDR Dow Jones Indus Avg | Sold out | 0.00% | −0.26 |
| SCHA Schwab US Small-Cap ETF | Reduce -42.9% | 0.35% | −0.25 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Sold out | 0.00% | −0.23 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -17.1% | 1.32% | −0.22 |
| BSCQ Invesco Bulletshares 2026 CB | Reduce -16.2% | 1.14% | −0.22 |
| AAPL Apple Inc. | Reduce -3.7% | 1.68% | −0.18 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.18 |
| MUB iShares National Muni Bond E | Reduce -38.5% | 0.25% | −0.16 |
| AVUV Avantis US Small Cap Value | Reduce -34.4% | 0.39% | −0.16 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.15 |
| GOOGL Alphabet Inc. Class A | Reduce -6.6% | 0.89% | −0.15 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.14 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.14 |
| META Meta Platforms Inc. Class A | Reduce -14.0% | 0.41% | −0.14 |
| V Visa Inc. Class A | Reduce -20.2% | 0.28% | −0.13 |
| NVDA Nvidia Corp. | Reduce -4.6% | 0.89% | −0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.9% | 1.49% | −0.10 |
| TSLA Tesla Inc. | Reduce -4.2% | 0.37% | −0.10 |
| JNJ Johnson & Johnson | Reduce -33.8% | 0.34% | −0.09 |
| JPM JPMorgan Chase & Co. | Reduce -2.3% | 0.78% | −0.09 |
| ORCL Oracle Corp. | Reduce -4.1% | 0.21% | −0.08 |
| MA Mastercard Inc. Class A | Reduce -18.6% | 0.18% | −0.07 |
| AVGO Broadcom Inc. | Reduce -5.8% | 0.36% | −0.07 |
| DGRW Wisdomtree U.S. Quality Divi | Reduce -9.4% | 0.55% | −0.07 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.4% | 0.48% | −0.06 |
| ABT Abbott Laboratories | Reduce -6.5% | 0.18% | −0.05 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -14.8% | 0.33% | −0.05 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -20.2% | 0.22% | −0.05 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -3.5% | 1.06% | −0.04 |
| IBM Intl Business Machines Corp. | Reduce -1.4% | 0.18% | −0.04 |
| ABBV Abbvie Inc. | Reduce -2.5% | 0.40% | −0.03 |
| DFUS Dimensional US Eq MKT ETF | Reduce -0.1% | 0.61% | −0.03 |
| MMM 3M Co. | Reduce -5.8% | 0.15% | −0.03 |
| CAH Cardinal Health Inc. | Reduce -13.8% | 0.18% | −0.02 |
| UNP Union Pacific Corp. | Reduce -17.6% | 0.15% | −0.02 |
| WMT Walmart Inc. | Reduce -18.1% | 0.22% | −0.02 |
| PTLC Pacer Trendpilot US Large Ca | Reduce -2.5% | 0.24% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| RSP Invesco S&P 500 Equal Weight | New | 3.73% | +3.73 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +43.2% | 7.74% | +2.09 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 1.77% | +1.77 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +99.2% | 2.90% | +1.49 |
| SCHO Schwab Short-Term US Treas | New | 1.20% | +1.20 |
| ETHA iShares Ethereum Trust ETF | New | 1.16% | +1.16 |
| EFA iShares MSCI Eafe ETF | Add +53.1% | 2.81% | +1.00 |
| BND Vanguard Total Bond Market | New | 0.69% | +0.69 |
| TIP iShares Tips Bond ETF | New | 0.51% | +0.51 |
| VBIL Vanguard 0-3M T-Bill ETF | New | 0.44% | +0.44 |
| SCHF Schwab Intl Equity ETF | Add +38.1% | 1.30% | +0.39 |
| SCHP Schwab U.S. Tips ETF | New | 0.35% | +0.35 |
| VTI VG Morningstar TS MKT ETF-US | Add +164.6% | 0.57% | +0.35 |
| BSCS Invesco Bulletshares 2028 CB | Add +80.7% | 0.75% | +0.33 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +56.7% | 0.50% | +0.21 |
| AAAU Goldman Sachs Physical Gold | New | 0.19% | +0.19 |
| XLV SS Health Care Select Sector | New | 0.14% | +0.14 |
| BSCR Invesco Bulletshares 2027 CB | Add +13.1% | 1.19% | +0.13 |
| SPEM State Street SP PTF Em ETF | Add +32.5% | 0.37% | +0.09 |
| SPAB SS SPDR P Agg Bond ETF | Add +7.2% | 1.32% | +0.08 |
| EEM iShares MSCI Emerging Market | Add +9.9% | 0.65% | +0.08 |
| AMZN Amazon.com Inc. | Add +18.3% | 0.90% | +0.06 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +24.8% | 0.27% | +0.04 |
| PINK Simplify Health Care ETF | Add +13.0% | 0.68% | +0.03 |
| RTX RTX Corp. | Add +0.8% | 0.24% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +0.2% | 0.40% | −0.02 |
| XLK SS Technology Select Sector | Add +0.6% | 0.39% | −0.03 |
| MSFT Microsoft Corp. | Add +0.3% | 1.24% | −0.37 |
| LLY Eli Lilly & Co. | Add +5.8% | 17.15% | −1.84 |
Options Activity Q4 2025 → Q1 2026
| ELI LILLY & CO | put | New | 3,000 | $2.8M |
| STATE STR SPDR S&P 500 ETF T | put | New | 3,300 | $2.1M |
| STATE STR SPDR S&P 500 ETF T | call | New | 1,300 | $845K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.