Ionic Capital Management LLC In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Ionic Capital Management LLC reported 55 stock positions worth $69.4 million . Its top holding was Alight Class A (ALIT) at 8.0% of the portfolio, followed by Dun & Bradstreet (DNB, 7.8% ) and Gxo Logistics (GXO, 6.2% ). Compared with Q3 2024, it opened 20 new positions, sold out of 31, added to 11 and reduced 22. The biggest buy was a new position in Zoominfo Technologies (GTM) and the biggest sale Constellium (CSTM, shares −47% ).
Location NEW YORK, NY
CIK 0001386462
Portfolio Value $69.4M (Q4 2024) Holdings 55 stocks · $69.4M 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 Q3 2024 ALIT Alight Inc. Class A 806,251 $5.6M Reduce -37.4% DNB Dun & Bradstreet Holdings Inc. 434,592 $5.4M Reduce -9.9% GXO Gxo Logistics Inc. 98,267 $4.3M Reduce -22.1% FLEX Flex Ltd. 98,024 $3.8M Reduce -44.6% ATMU Atmus Filtration Technologie 89,156 $3.5M Reduce -19.5% TNL Travel + Leisure Co. 69,051 $3.5M Reduce -63.7% PRGO Perrigo Co. PLC 121,601 $3.1M Reduce -63.9% KBR KBR Inc. 51,135 $3.0M Reduce -1.6% CSTM Constellium SE 281,394 $2.9M Reduce -47.1% GMED Globus Medical Inc. Class A 25,296 $2.1M No change QQQX Nuveen Nasdaq 100 DYN Overwr 74,146 $2.0M Reduce -27.1% GTM Zoominfo Technologies Inc. 175,000 $1.8M New CZR Caesars Entertainment Inc. 53,185 $1.8M Add +17.7% MAGN Magnera Corp. 97,233 $1.8M New URI United Rentals Inc. 2,430 $1.7M No change ELAN Elanco Animal Health Inc. 126,391 $1.5M Reduce -20.3% SNX TD Synnex Corp. 10,100 $1.2M Add +6.3% ECG Everus Construction Group 18,006 $1.2M New DIAX Nuveen Dow 30 Dynamic Overwr 72,407 $1.1M Reduce -30.6% WIW Western Asst Infl-LNK Opp 129,740 $1.1M Add +53.7% DDOG Datadog Inc. Class A 7,500 $1.1M New LBRDA Liberty Broadband-A 13,315 $990K Reduce -22.6% COHR Coherent Corp. 10,000 $947K Reduce -50.0% SIRI Sirius XM Holdings Inc. 39,470 $900K Reduce -38.7% INTC Intel Corp. 42,191 $846K Add +627.4% TDS Telephone and Data Systems 21,754 $742K Reduce -19.5% META Meta Platforms Inc. Class A 1,200 $703K Reduce -33.3% MANU Manchester United PLC Class A 34,180 $593K Reduce -27.7% ALLY Ally Financial Inc. 15,500 $558K New LUCK Lucky Strike Entertainment C 53,453 $535K Reduce -23.1% IBIT iShares Bitcoin Trust ETF 10,000 $531K New AMZN Amazon.com Inc. 2,400 $527K Add +92.0% ATI Ati Inc. 9,200 $506K New BCX BlackRock Resources & Commod 57,139 $488K Reduce -22.8% NCZ Virtus Convertible & Inc. FD 154,827 $485K Add +221.7% TSLA Tesla Inc. 1,200 $485K New COIN Coinbase Global Inc. Class A 1,900 $472K New AMD Advanced Micro Devices 3,900 $471K Add +30.0% X United States Steel Corp. 12,921 $439K Add +241.7% JOF Japan Smaller Capitalization 56,681 $435K New NBIS Nebius Group NV 15,000 $416K New NVDA Nvidia Corp. 3,000 $403K Add +471.4% RIVN Rivian Automotive Inc. Class A 30,000 $399K New MSTR Strategy Inc. filed as MICROSTRATEGY INC 1,369 $396K New NCV Virtus Convertible & Income 112,055 $389K Add +510.0% EVGO Evgo Inc. 95,849 $388K New SMCI Super Micro Computer Inc. 12,500 $381K New VXX Ipath Series B S&P 500 Vix filed as BARCLAYS BANK PLC 7,815 $358K New BATRK Atlanta Braves Holdings in-C 8,689 $332K New SOC Sable Offshore Corp. 10,378 $238K New BATRA Atlanta Braves Holdings in-A 4,819 $197K New DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN 32,853 $192K Add +24.4% SLND Southland Holdings Inc. 42,789 $139K Reduce -43.6% ASTS Ast Spacemobile Inc. 4,302 $91K New JOBY Joby Aviation Inc. 10,921 $89K Reduce -65.7%
Options reported separately and not counted above: HYG puts ($477.6M), HYG calls ($317.4M), QQQ calls ($25.6M), EEM calls ($10.5M), EEM puts ($10.5M), BABA calls ($5.1M), PDD calls ($3.9M), X calls ($3.7M), AUR puts ($3.1M), NEM calls ($2.1M), ZIM calls ($2.1M), FXI puts ($1.5M), and 16 more.
Other holdings (21): bonds, preferreds, convertibles and warrants · $32.1M (not counted above) Security Class Shares / Principal Value Change MARA HOLDINGS INC (MARA 1 12/01/26) NOTE 1.000%12/0 · principal 6,050,000 $5.5M Reduce -36.6% WAYFAIR INC (W 1 08/15/26) NOTE 1.000% 8/1 · principal 5,800,000 $5.4M Reduce -17.1% LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) NOTE 0.500% 6/1 · principal 5,000,000 $4.8M New SNAP INC (SNAP 0.125 03/01/28) NOTE 0.125% 3/0 · principal 5,622,000 $4.6M Reduce -26.2% DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) NOTE 12/0 · principal 3,500,000 $3.1M Reduce -41.7% CONFLUENT INC (CFLT 0 01/15/27) NOTE 1/1 · principal 2,500,000 $2.3M Reduce -65.9% GCMGW GCM Grosvenor Inc. A -CW25 *W EXP 11/17/202 1,122,835 $1.4M Reduce -39.4% CMPOW Composecure Inc. -CW25 *W EXP 12/27/202 289,662 $1.3M Reduce -44.7% ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD 20,000 $1.1M New MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) NOTE 3.250%12/1 · principal 1,050,000 $986K Reduce -58.8% AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 858,719 $910K Reduce -34.7% ACHR.WS Archer Aviation Inc. -CW26 *W EXP 09/16/202 69,000 $222K Reduce -94.6% ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 100,000 $150K New SLND.WS Legato Merger Corp. II -CW23 *W EXP 02/14/202 274,981 $66K No change GBGWF Global Blue Group Holding AG *W EXP 08/28/202 2,130,088 $65K Reduce -11.7% SEATW Vivid Seats Inc. -CW26 *W EXP 10/18/202 124,297 $44K Reduce -79.6% GATEW Marblegate Acquisition -CW22 *W EXP 08/31/202 1,190,045 $39K No change LANWF Lanvin Group Holdings Ltd.-27 *W EXP 01/14/202 747,561 $30K Reduce -30.8% LVWR.WS Livewire Group Inc.-27 *W EXP 09/26/202 266,430 $14K Reduce -31.9% MSSWF Metal SKY Star Acq -CW27 *W EXP 03/31/202 108,948 $4K Reduce -25.7% CHEER HLDG INC *W EXP 02/13/202 2,188,580 $3K No change
Total filed on the 13F, all lines: $101.5M.
Portfolio Sells Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ CSTM Constellium SE Reduce -47.1% 4.17% −3.54 PRGO Perrigo Co. PLC Reduce -63.9% 4.51% −3.37 TNL Travel + Leisure Co. Reduce -63.7% 5.02% −2.79 GLD SPDR Gold Shares Sold out 0.00% −2.58 BECN Beacon Roofing Supply Inc. Sold out 0.00% −2.45 AAPL Apple Inc. Sold out 0.00% −2.12 GDX Vaneck Gold Miners ETF Sold out 0.00% −2.10 PFGC Performance Food Group Co. Sold out 0.00% −1.36 MSFT Microsoft Corp. Sold out 0.00% −1.25 PSLV Sprott Physical Silver Trust Sold out 0.00% −1.00 AVGO Broadcom Inc. Sold out 0.00% −0.92 XBI SS SPDR S&P Biotech ETF Sold out 0.00% −0.85 MXE Mexico Equity and Income FD Sold out 0.00% −0.84 IWM iShares Russell 2000 ETF Sold out 0.00% −0.83 SMH Vaneck Semiconductor ETF Sold out 0.00% −0.74 RIOT Riot Platforms Inc. Sold out 0.00% −0.66 POLEU Andretti Acquisition Corp. II Sold out 0.00% −0.56 IGV iShares Expanded Tech-Softwa Sold out 0.00% −0.50 ENPH Enphase Energy Inc. Sold out 0.00% −0.50 TMUS T-Mobile US Inc. Sold out 0.00% −0.50 AMTM Amentum Holdings Inc. Sold out 0.00% −0.48 GTLB Gitlab Inc. Class A Sold out 0.00% −0.47 ALIT Alight Inc. Class A Reduce -37.4% 8.04% −0.45 FTW.U Eqv Ventures Acquisition Cor Sold out 0.00% −0.44 DVY iShares Select Dividend ETF Sold out 0.00% −0.41 MBLY Mobileye Global Inc. Class A Sold out 0.00% −0.37 MXF Mexico Fund Inc. Sold out 0.00% −0.32 NFLX Netflix Inc. Sold out 0.00% −0.32 VIVID SEATS INC Sold out 0.00% −0.26 COHR Coherent Corp. Reduce -50.0% 1.37% −0.22 AD Array Digital Infrastructure Sold out 0.00% −0.22 AMC AMC Entertainment HLDS Class A Sold out 0.00% −0.20 GME Gamestop Corp. Class A Sold out 0.00% −0.17 QS Quantumscape Corp. Sold out 0.00% −0.11 SIRI Sirius XM Holdings Inc. Reduce -38.7% 1.30% −0.06 SLND Southland Holdings Inc. Reduce -43.6% 0.20% −0.05 JOBY Joby Aviation Inc. Reduce -65.7% 0.13% −0.01 EVEX Eve Holding Inc. Sold out 0.00% −0.00 LVWR Livewire Group Inc. Sold out 0.00% −0.00 LUCK Lucky Strike Entertainment C Reduce -23.1% 0.77% +0.04 BCX BlackRock Resources & Commod Reduce -22.8% 0.70% +0.07 META Meta Platforms Inc. Class A Reduce -33.3% 1.01% +0.09 ELAN Elanco Animal Health Inc. Reduce -20.3% 2.21% +0.13 FLEX Flex Ltd. Reduce -44.6% 5.42% +0.15 MANU Manchester United PLC Class A Reduce -27.7% 0.85% +0.17 DIAX Nuveen Dow 30 Dynamic Overwr Reduce -30.6% 1.57% +0.19 LBRDA Liberty Broadband-A Reduce -22.6% 1.43% +0.25 GXO Gxo Logistics Inc. Reduce -22.1% 6.16% +0.31 TDS Telephone and Data Systems Reduce -19.5% 1.07% +0.51 QQQX Nuveen Nasdaq 100 DYN Overwr Reduce -27.1% 2.89% +0.61
Portfolio Buys Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ GTM Zoominfo Technologies Inc. New 2.65% +2.65 MAGN Magnera Corp. New 2.55% +2.55 ECG Everus Construction Group New 1.71% +1.71 DDOG Datadog Inc. Class A New 1.54% +1.54 INTC Intel Corp. Add +627.4% 1.22% +1.10 WIW Western Asst Infl-LNK Opp Add +53.7% 1.55% +0.88 CZR Caesars Entertainment Inc. Add +17.7% 2.56% +0.88 ALLY Ally Financial Inc. New 0.80% +0.80 IBIT iShares Bitcoin Trust ETF New 0.76% +0.76 ATI Ati Inc. New 0.73% +0.73 TSLA Tesla Inc. New 0.70% +0.70 SNX TD Synnex Corp. Add +6.3% 1.71% +0.69 COIN Coinbase Global Inc. Class A New 0.68% +0.68 JOF Japan Smaller Capitalization New 0.63% +0.63 NBIS Nebius Group NV New 0.60% +0.60 RIVN Rivian Automotive Inc. Class A New 0.58% +0.58 MSTR Strategy Inc. New 0.57% +0.57 NCZ Virtus Convertible & Inc. FD Add +221.7% 0.70% +0.57 EVGO Evgo Inc. New 0.56% +0.56 AMZN Amazon.com Inc. Add +92.0% 0.76% +0.55 SMCI Super Micro Computer Inc. New 0.55% +0.55 NVDA Nvidia Corp. Add +471.4% 0.58% +0.52 VXX Ipath Series B S&P 500 Vix New 0.52% +0.52 X United States Steel Corp. Add +241.7% 0.63% +0.51 NCV Virtus Convertible & Income Add +510.0% 0.56% +0.50 BATRK Atlanta Braves Holdings in-C New 0.48% +0.48 SOC Sable Offshore Corp. New 0.34% +0.34 BATRA Atlanta Braves Holdings in-A New 0.28% +0.28 AMD Advanced Micro Devices Add +30.0% 0.68% +0.24 ASTS Ast Spacemobile Inc. New 0.13% +0.13 DCH Dauch Corporation Add +24.4% 0.28% +0.13
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +759.0% 6,072,400 $477.6M HYG Ishr Ibx Usd Hiyld CB ETF-Ui call New 4,035,100 $317.4M QQQ Invesco QQQ Trust Series 1 put Sold out 240,000 $117.1Mbefore exit EFA iShares MSCI Eafe ETF put Sold out 1,000,000 $83.6Mbefore exit QQQ Invesco QQQ Trust Series 1 call Reduce -44.4% 50,000 $25.6M FXI iShares China Large-Cap ETF call Sold out 400,000 $12.7Mbefore exit EEM iShares MSCI Emerging Market call New 250,000 $10.5M EEM iShares MSCI Emerging Market put New 250,000 $10.5M KWEB Kranesh Csi China Internet call Sold out 250,000 $8.5Mbefore exit GME Gamestop Corp. Class A call Sold out 250,000 $5.7Mbefore exit BABA Alibaba Group Holding-SP ADR call Add +55.7% 60,400 $5.1M BAX Baxter International Inc. call Sold out 110,900 $4.2Mbefore exit PDD PDD Holdings Inc. call Add +17.6% 40,000 $3.9M X United States Steel Corp. call Reduce -29.7% 107,600 $3.7M AVPT Avepoint Inc. put Sold out 304,000 $3.6Mbefore exit GOOGL Alphabet Inc. Class A call Sold out 21,200 $3.5Mbefore exit DVY iShares Select Dividend ETF put Sold out 25,000 $3.4Mbefore exit AUR Aurora Innovation Inc. put Add +233.3% 500,000 $3.1M PYPL PayPal Holdings Inc. call Sold out 39,000 $3.0Mbefore exit DIS The Walt Disney Co. call Sold out 26,400 $2.5Mbefore exit TME Tencent Music Entertainm-ADR call Sold out 204,200 $2.5Mbefore exit INTC Intel Corp. call Sold out 100,000 $2.3Mbefore exit AMD Advanced Micro Devices call Sold out 13,600 $2.2Mbefore exit NEM Newmont Corp. call New 57,400 $2.1M ZIM Zim Integrated Shipping Serv call Reduce -26.5% 99,100 $2.1M PFE Pfizer Inc. call Sold out 67,500 $2.0Mbefore exit KGC Kinross Gold Corp. call Sold out 190,800 $1.8Mbefore exit DIREXION SHS ETF TR put Sold out 57,700 $1.5Mbefore exit FXI iShares China Large-Cap ETF put Reduce -90.0% 50,000 $1.5M JOBY Joby Aviation Inc. put Add +16.1% 175,600 $1.4M AVGO Broadcom Inc. call New 6,000 $1.4M AVGO Broadcom Inc. put New 6,000 $1.4M SYF Synchrony Financial call Sold out 26,400 $1.3Mbefore exit NVDA Nvidia Corp. call Sold out 10,000 $1.2Mbefore exit NVDA Nvidia Corp. put Sold out 10,000 $1.2Mbefore exit AUR Aurora Innovation Inc. call New 175,000 $1.1M LLY Eli Lilly & Co. call Sold out 1,200 $1.1Mbefore exit APP AppLovin Corp. Class A put Sold out 7,500 $979Kbefore exit SHOP Shopify Inc. Class A put Sold out 12,200 $978Kbefore exit NBIS Nebius Group NV call New 35,000 $970K ASTS Ast Spacemobile Inc. call New 45,000 $950K RDW Redwire Corp. put Reduce -46.5% 51,700 $851K EVGO Evgo Inc. put New 200,000 $810K ZIM Zim Integrated Shipping Serv put Reduce -41.7% 35,000 $751K RBLX Roblox Corp. Class A put Sold out 14,000 $620Kbefore exit ACHR Archer Aviation Inc. Class A put Sold out 200,000 $606Kbefore exit BIDU Baidu Inc. - Spon ADR call New 7,000 $590K PTON Peloton Interactive Inc. Class A call New 65,000 $566K RVLV Revolve Group Inc. Class A put Sold out 22,700 $563Kbefore exit JD Jd.com Inc.-ADR call Reduce -77.3% 14,300 $496K
Showing the first 50 of 59.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ ENPHASE ENERGY INC (ENPH 0 03/01/26) NOTE 3/0 · principal Sold out 6,300,000 $5.9Mbefore exit MARA HOLDINGS INC (MARA 1 12/01/26) NOTE 1.000%12/0 · principal Reduce -36.6% 6,050,000 $5.5M WAYFAIR INC (W 1 08/15/26) NOTE 1.000% 8/1 · principal Reduce -17.1% 5,800,000 $5.4M LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) NOTE 0.500% 6/1 · principal New 5,000,000 $4.8M SNAP INC (SNAP 0.125 03/01/28) NOTE 0.125% 3/0 · principal Reduce -26.2% 5,622,000 $4.6M VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal Sold out 3,000,000 $3.7Mbefore exit DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) NOTE 12/0 · principal Reduce -41.7% 3,500,000 $3.1M CONFLUENT INC (CFLT 0 01/15/27) NOTE 1/1 · principal Reduce -65.9% 2,500,000 $2.3M FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal Sold out 2,000,000 $2.0Mbefore exit GCMGW GCM Grosvenor Inc. A -CW25 *W EXP 11/17/202 Reduce -39.4% 1,122,835 $1.4M CMPOW Composecure Inc. -CW25 *W EXP 12/27/202 Reduce -44.7% 289,662 $1.3M ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD New 20,000 $1.1M MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) NOTE 3.250%12/1 · principal Reduce -58.8% 1,050,000 $986K AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 Reduce -34.7% 858,719 $910K AVPTW Avepoint Inc.-CW24 *W EXP 09/18/202 Sold out 111,955 $297Kbefore exit LUNRW Intuitive Machines Inc.-CW *W EXP 99/99/999 Sold out 116,069 $291Kbefore exit ACHR.WS Archer Aviation Inc. -CW26 *W EXP 09/16/202 Reduce -94.6% 69,000 $222K EVLVW Evolv Technologies -CW26 *W EXP 07/16/202 Sold out 450,000 $171Kbefore exit ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 New 100,000 $150K GBGWF Global Blue Group Holding AG *W EXP 08/28/202 Reduce -11.7% 2,130,088 $65K EVEX.WS Eve Holdng Inc. -CW25 *W EXP 05/09/202 Sold out 579,516 $64Kbefore exit SEATW Vivid Seats Inc. -CW26 *W EXP 10/18/202 Reduce -79.6% 124,297 $44K FUFUW Bitfufu Inc.-28 *W EXP 03/01/202 Sold out 95,643 $36Kbefore exit LANWF Lanvin Group Holdings Ltd.-27 *W EXP 01/14/202 Reduce -30.8% 747,561 $30K T1 ENERGY INC *W EXP 07/09/202 Sold out 498,277 $28Kbefore exit LVWR.WS Livewire Group Inc.-27 *W EXP 09/26/202 Reduce -31.9% 266,430 $14K MNTSW Momentus Inc.-CW26 *W EXP 08/12/202 Sold out 1,292,255 $12Kbefore exit GBBKR Global Blockchain Acq - RTS RIGHT 05/09/2027 Sold out 160,781 $12Kbefore exit CPTWF Captivision Inc.-28 *W EXP 11/15/202 Sold out 189,170 $8Kbefore exit MSSWF Metal SKY Star Acq -CW27 *W EXP 03/31/202 Reduce -25.7% 108,948 $4K TETWF Technology & Telecommuni -27 *W EXP 04/15/202 Sold out 116,526 $3Kbefore exit ALSWF Alpha Star Acquisition -CW23 *W EXP 12/13/202 Sold out 146,697 $2Kbefore exit COEPW Bull Horn Holdings Corp.-CW25 *W EXP 10/28/202 Sold out 93,559 $1Kbefore exit IVDAW Iveda Solutions Inc. -CW27 *W EXP 04/01/202 Sold out 20,000 $607before 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 81 $93.0M FLEX, AKAM, TNL, CSTM, META Q1 2026 100 $99.5M IWM, QQQ, CSTM, TNL, FLEX Q4 2025 87 $86.0M CSTM, TNL, GXO, ATMU, FLEX Q3 2025 67 $79.8M GXO, TNL, CSTM, ATMU, FLEX Q2 2025 80 $65.2M GXO, FLEX, ALIT, TNL, CSTM Q1 2025 64 $53.7M ALIT, GXO, ATMU, TNL, KBR Q4 2024 55 $69.4M ALIT, DNB, GXO, FLEX, ATMU Q3 2024 66 $112.2M ALIT, PRGO, TNL, CSTM, GXO Q2 2024 74 $125.2M TNL, CSTM, PRGO, ALIT, FLEX Q1 2024 59 $118.8M ALIT, CSTM, TNL, LUCK, FLEX