Garda Capital Partners LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Garda Capital Partners LP reported 56 stock positions worth $352.7 million . Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 70.7% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 7.2% ) and Invesco QQQ Trust Series 1 (QQQ, 3.4% ). Compared with Q1 2025, it opened 25 new positions, sold out of 74, added to 9 and reduced 22. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale an exit from Broadcom (AVGO).
Location WAYZATA, MN
CIK 0001666905
Portfolio Value $352.7M (Q2 2025) Holdings 56 stocks · $352.7M 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 Q1 2025 SPY SS SPDR S&P 500 ETF Trust-US 403,701 $249.4M New GDX Vaneck Gold Miners ETF 485,325 $25.3M New QQQ Invesco QQQ Trust Series 1 21,438 $11.8M New BRK.B Berkshire Hathaway Inc. Class B 18,967 $9.2M New KRE SS SPDR S&P Regional Bank 137,493 $8.2M New OIH Vaneck Oil Services ETF 16,442 $3.8M Add +385.2% ADBE Adobe Inc. 9,383 $3.6M Add +2.5% NVDA Nvidia Corp. 21,713 $3.4M Reduce -2.1% IWM iShares Russell 2000 ETF 15,238 $3.3M Reduce -24.3% FANG Diamondback Energy Inc. 18,356 $2.5M New XRT SS SPDR S&P Retail ETF 30,862 $2.4M Reduce -63.8% SPG Simon Property Group Inc. 13,419 $2.2M Add +291.2% PDD PDD Holdings Inc. 17,542 $1.8M Reduce -37.0% AAPL Apple Inc. 8,410 $1.7M Reduce -36.3% OXY Occidental Petroleum Corp. 32,628 $1.4M New CVX Chevron Corp. 8,408 $1.2M New EXPE Expedia Group Inc. 6,970 $1.2M Add +34.5% XOM Exxon Mobil Corp. 10,820 $1.2M New XYZ Block Inc. 16,308 $1.1M Reduce -29.0% LOW Lowe's Cos Inc. 4,695 $1.0M Add +232.7% HD Home Depot Inc. 2,805 $1.0M Add +35.2% XBI SS SPDR S&P Biotech ETF 12,265 $1.0M Reduce -45.6% TFC Truist Financial Corp. 22,741 $978K Reduce -71.6% APD Air Products & Chemicals Inc. 2,908 $820K Add +2.2% ABNB Airbnb Inc. Class A 6,033 $798K Reduce -79.2% COP Conocophillips 8,320 $747K New ZG Zillow Group Inc. Class A 9,884 $677K Add +161.7% NLY Annaly Capital Management Inc. 34,007 $640K New XEL Xcel Energy Inc. 9,208 $627K New DXCM Dexcom Inc. 6,652 $581K Reduce -82.0% PANW Palo Alto Networks Inc. 2,700 $553K Reduce -68.7% PINS Pinterest Inc. Class A 15,187 $545K Reduce -28.0% FCNCA First Citizens Bcshs Class A 268 $524K Reduce -3.9% CPRT Copart Inc. 9,909 $486K New PG The Procter & Gamble Co. 3,034 $483K New FIS Fidelity National Info Serv 5,859 $477K Reduce -63.4% PLD Prologis Inc. 4,495 $473K New MTDR Matador Resources Co. 8,861 $423K Add +91.4% MRK Merck & Co. Inc. 5,151 $408K New EPAM Epam Systems Inc. 2,253 $398K Reduce -44.8% ONB Old National Bancorp 18,639 $398K Reduce -5.7% DVN Devon Energy Corp. 11,255 $358K New RIO Rio Tinto PLC-Spon ADR 6,104 $356K New UNP Union Pacific Corp. 1,477 $340K Reduce -26.4% KDP Keurig Dr Pepper Inc. 9,460 $313K New GWW WW Grainger Inc. filed as GRAINGER W W INC 299 $311K Reduce -70.4% MDT Medtronic PLC 3,392 $296K New EOG EOG Resources Inc. 2,079 $249K New MTB M & T Bank Corp. filed as M & T BK CORP 1,204 $234K Reduce -86.1% RHP Ryman Hospitality Properties 2,317 $229K Reduce -54.1% WAL Western Alliance Bancorp 2,897 $226K New MDGL Madrigal Pharmaceuticals Inc. 702 $212K New FDX FedEx Corp. 914 $208K Reduce -85.7% AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 643 $206K New JNJ Johnson & Johnson 1,343 $205K New TEVA Teva Pharmaceutical-SP ADR 12,050 $202K Reduce -32.1%
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T calls ($232.8M), NVIDIA CORPORATION puts ($159.3M), NVIDIA CORPORATION calls ($115.0M), ALPHABET INC calls ($106.6M), MICROSOFT CORP puts ($77.5M), ADVANCED MICRO DEVICES INC puts ($58.5M), ISHARES TR puts ($54.2M), MICROSOFT CORP calls ($51.5M), SELECT SECTOR SPDR TR puts ($50.0M), ISHARES TR calls ($44.7M), SELECT SECTOR SPDR TR puts ($44.3M), VANECK ETF TRUST puts ($43.0M), and 487 more.
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ AVGO Broadcom Inc. Sold out 0.00% −6.63 DDOG Datadog Inc. Class A Sold out 0.00% −3.37 XLC SS Comm Select Sector SPDR Sold out 0.00% −3.28 XLK SS Technology Select Sector Sold out 0.00% −3.25 ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −3.10 TGT Target Corp. Sold out 0.00% −3.02 XRT SS SPDR S&P Retail ETF Reduce -63.8% 0.67% −2.63 MSFT Microsoft Corp. Sold out 0.00% −2.52 DIA SS SPDR Dow Jones Indus Avg Sold out 0.00% −2.07 BX Blackstone Inc. Sold out 0.00% −2.02 USB US Bancorp Sold out 0.00% −2.01 GOOGL Alphabet Inc. Class A Sold out 0.00% −1.94 SMH Vaneck Semiconductor ETF Sold out 0.00% −1.79 ABNB Airbnb Inc. Class A Reduce -79.2% 0.23% −1.72 DLR Digital Realty Trust Inc. Sold out 0.00% −1.70 COIN Coinbase Global Inc. Class A Sold out 0.00% −1.61 TFC Truist Financial Corp. Reduce -71.6% 0.28% −1.57 EMR Emerson Electric Co. Sold out 0.00% −1.56 AMZN Amazon.com Inc. Sold out 0.00% −1.56 TTD Trade Desk Inc./the Class A Sold out 0.00% −1.47 CCL Carnival Corp. Sold out 0.00% −1.37 MRVL Marvell Technology Inc. Sold out 0.00% −1.37 META Meta Platforms Inc. Class A Sold out 0.00% −1.37 PDD PDD Holdings Inc. Reduce -37.0% 0.52% −1.33 AMD Advanced Micro Devices Sold out 0.00% −1.33 IWM iShares Russell 2000 ETF Reduce -24.3% 0.93% −1.32 TSLA Tesla Inc. Sold out 0.00% −1.30 DXCM Dexcom Inc. Reduce -82.0% 0.16% −1.25 AAPL Apple Inc. Reduce -36.3% 0.49% −1.16 ARKK ARK Innovation ETF Sold out 0.00% −1.01 AMAT Applied Materials Inc. Sold out 0.00% −0.96 ACN Accenture PLC Class A Sold out 0.00% −0.88 MTD Mettler-Toledo International Sold out 0.00% −0.84 WFC Wells Fargo & Co. Sold out 0.00% −0.82 FDX FedEx Corp. Reduce -85.7% 0.06% −0.82 ADM Archer-Daniels-Midland Co. Sold out 0.00% −0.80 MTB M & T Bank Corp. Reduce -86.1% 0.07% −0.80 MU Micron Technology Inc. Sold out 0.00% −0.80 XBI SS SPDR S&P Biotech ETF Reduce -45.6% 0.29% −0.74 DELL Dell Technologies -C Sold out 0.00% −0.73 SRE Sempra Sold out 0.00% −0.72 SYF Synchrony Financial Sold out 0.00% −0.71 ROK Rockwell Automation Inc. Sold out 0.00% −0.70 PANW Palo Alto Networks Inc. Reduce -68.7% 0.16% −0.67 NSC Norfolk Southern Corp. Sold out 0.00% −0.64 DD Dupont DE Nemours Inc. Sold out 0.00% −0.61 PH Parker Hannifin Corp. Sold out 0.00% −0.58 BAC Bank of America Corp. Sold out 0.00% −0.58 DECK Deckers Outdoor Corp. Sold out 0.00% −0.55 KBE SS SPDR S&P Bank ETF Sold out 0.00% −0.55
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ SPY SS SPDR S&P 500 ETF Trust-US New 70.71% +70.71 GDX Vaneck Gold Miners ETF New 7.16% +7.16 QQQ Invesco QQQ Trust Series 1 New 3.35% +3.35 BRK.B Berkshire Hathaway Inc. Class B New 2.61% +2.61 KRE SS SPDR S&P Regional Bank New 2.31% +2.31 FANG Diamondback Energy Inc. New 0.71% +0.71 OIH Vaneck Oil Services ETF Add +385.2% 1.07% +0.58 OXY Occidental Petroleum Corp. New 0.39% +0.39 CVX Chevron Corp. New 0.34% +0.34 XOM Exxon Mobil Corp. New 0.33% +0.33 SPG Simon Property Group Inc. Add +291.2% 0.61% +0.29 COP Conocophillips New 0.21% +0.21 NLY Annaly Capital Management Inc. New 0.18% +0.18 XEL Xcel Energy Inc. New 0.18% +0.18 CPRT Copart Inc. New 0.14% +0.14 PG The Procter & Gamble Co. New 0.14% +0.14 PLD Prologis Inc. New 0.13% +0.13 MRK Merck & Co. Inc. New 0.12% +0.12 LOW Lowe's Cos Inc. Add +232.7% 0.30% +0.11 DVN Devon Energy Corp. New 0.10% +0.10 RIO Rio Tinto PLC-Spon ADR New 0.10% +0.10 KDP Keurig Dr Pepper Inc. New 0.09% +0.09 MDT Medtronic PLC New 0.08% +0.08 EOG EOG Resources Inc. New 0.07% +0.07 WAL Western Alliance Bancorp New 0.06% +0.06 MDGL Madrigal Pharmaceuticals Inc. New 0.06% +0.06 AJG Arthur J Gallagher & Co. New 0.06% +0.06 JNJ Johnson & Johnson New 0.06% +0.06 ZG Zillow Group Inc. Class A Add +161.7% 0.19% +0.05 MTDR Matador Resources Co. Add +91.4% 0.12% −0.01 HD Home Depot Inc. Add +35.2% 0.29% −0.14 EXPE Expedia Group Inc. Add +34.5% 0.33% −0.16 APD Air Products & Chemicals Inc. Add +2.2% 0.23% −0.24 ADBE Adobe Inc. Add +2.5% 1.03% −0.94
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ STATE STR SPDR S&P 500 ETF T call Add +150.9% 376,800 $232.8M NVIDIA CORPORATION put Add +366.5% 1,008,100 $159.3M NVIDIA CORPORATION call Add +265.3% 727,700 $115.0M ALPHABET INC call Add +8736.8% 600,900 $106.6M MICROSOFT CORP put Add +140.4% 155,800 $77.5M ADVANCED MICRO DEVICES INC put Add +88.2% 412,100 $58.5M ISHARES TR put Reduce -24.9% 1,264,200 $54.2M MICROSOFT CORP call Add +57.9% 103,600 $51.5M SELECT SECTOR SPDR TR put Add +85.5% 197,500 $50.0M ISHARES TR call Reduce -31.4% 1,068,100 $44.7M SELECT SECTOR SPDR TR put Add +27.8% 536,500 $44.3M VANECK ETF TRUST put Add +35.1% 192,400 $43.0M ISHARES TR call Add +30.8% 282,700 $43.0M SELECT SECTOR SPDR TR call Add +28.2% 517,000 $42.7M VANECK ETF TRUST call Add +5.5% 191,300 $42.7M ADVANCED MICRO DEVICES INC call Add +51.9% 294,000 $41.7M ISHARES TR put Reduce -4.3% 261,800 $39.5M STATE STR SPDR DOW JONES IND put Add +10.8% 87,300 $38.5M STATE STR SPDR DOW JONES IND call Add +11.1% 85,400 $37.6M SELECT SECTOR SPDR TR call Add +38.9% 146,400 $37.1M BANK OF AMER CORP put Add +197.6% 734,100 $34.7M SPDR SERIES TRUST call Add +140.1% 552,700 $32.8M STATE STR SPDR S&P 500 ETF T put Reduce -84.0% 52,800 $32.6M EXXON MOBIL CORP put Add +65.6% 248,600 $26.8M EXXON MOBIL CORP call Add +62.1% 243,200 $26.2M TESLA INC put Add +163.6% 82,500 $26.2M BANK OF AMER CORP call Reduce -53.4% 534,100 $25.3M SELECT SECTOR SPDR TR call Sold out 262,000 $25.3Mbefore exit SELECT SECTOR SPDR TR put Sold out 262,000 $25.3Mbefore exit APPLIED MATLS INC call Add +250.1% 136,200 $24.9M TESLA INC call Reduce -62.4% 77,500 $24.6M BROADCOM INC put Reduce -54.5% 86,300 $23.8M APPLIED MATLS INC put Add +208.1% 117,400 $21.5M INTUIT call Add +9.2% 27,200 $21.4M ZSCALER INC put Add +54.0% 65,300 $20.5M INTUIT put Add +22.3% 25,800 $20.3M CROWDSTRIKE HLDGS INC put Add +48.1% 39,700 $20.2M ISHARES INC call Add +29.7% 675,000 $19.5M SPDR INDEX SHS FDS put Reduce -7.3% 319,900 $19.1M CROWDSTRIKE HLDGS INC call Add +43.1% 37,200 $18.9M LAM RESEARCH CORP call Add +1002.3% 190,700 $18.6M LAM RESEARCH CORP put Add +1002.3% 190,700 $18.6M UBER TECHNOLOGIES INC call Reduce -22.7% 196,300 $18.3M ADOBE INC put Reduce -1.3% 46,800 $18.1M ANALOG DEVICES INC call Add +425.0% 73,500 $17.5M UBER TECHNOLOGIES INC put Reduce -26.7% 187,400 $17.5M KRANESHARES TRUST call New 500,000 $17.2M META PLATFORMS INC call Reduce -82.0% 22,800 $16.8M ANALOG DEVICES INC put Add +413.9% 70,400 $16.8M MERCADOLIBRE INC put Add +16.4% 6,400 $16.7M
Showing the first 50 of 540.
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 7 $140.8M IVV, BKLN, ILF, EWZ, AMZN Q1 2026 3 $38.9M IBIT, AMZN, BITB Q4 2025 1 $1.7M ILF Q3 2025 0 $0 Q2 2025 56 $352.7M SPY, GDX, QQQ, BRK.B, KRE Q1 2025 105 $178.3M AVGO, DDOG, XRT, XLC, XLK Q4 2024 33 $124.2M SPY, KWEB, PDD, IWM, F Q3 2024 49 $401.4M SPY, QQQ, SLB, OXY, F Q2 2024 51 $186.5M SPY, QQQ, GDX, PPG, NUE Q1 2024 23 $213.8M SPY, QQQ, GDX, AAPL, EWZ